Temper™ More由具备不同作用机制的精异丙甲草胺与草铵磷复配而成。这两种有效成分强强结合，在防除草 甘膦抗性杂草时独辟蹊径，效果持久。该产品杀草谱广，对豚草、牵牛及水麻等对草甘磷、原卟啉原氧化酶 抑制剂类(PPO)及乙酰乳酸合成酶抑制剂类除草剂产生耐药性的禾本科与阔叶杂草药均有显著药效。 双重作用机制加持下的Temper™ More凭借广谱防效与持久药效，可为种植大豆、玉米及棉花等作物扫清杂草 障碍，为收获竞争优势夯实基础。抓住种植早期窗口，尽早用药防控杂草，有利于优化农作规划，精简用 药，帮助农民节省时间与金钱。 智通财经APP获悉，安道麦股份有限公司(000553.SZ)近日宣布，新款除草剂Temper™ More在美国获准登记。 TemperTM More具备优异持久的免耕除草效果，有助于击破大田作物杂草对除草剂的顽固抗性。安道麦凭借 独有的Sesgama®制剂技术开发出了这一解决方案，为农民提供又一个管理杂草抗性的高效工具。 杂草抗药性一直困扰着美国各地的农民，防除侵略性杂草变得越来越困难。单独施用草甘磷在很多情况下不 再有效，往往需要多次喷施，这不仅增加了成本负担，加深了物流运输的复杂程度， ...

业绩回顾 4Q24 业绩符合市场预期，1Q25 业绩略超我们的预期公司公布2024 全年业绩，实现收入294.88 亿元 （YoY-10.0%）；归母净利润-29.03 亿元（YoY 续亏）。其中4Q24 实现营业收入79.65 亿元 我们维持2025 年净利润4.69 亿元，新引入2026 年净利润预测6.27 亿元，考虑到公司1Q25 扭亏为盈，业 绩有望逐步修复，我们重新采用P/E估值法估值，当前股价对应2025/26 P/E 为30.8/23.0x。考虑到板块情 绪回暖及公司季度业绩改善明显，我们上调目标价33.3%至7.2 元，对应2025/26 P/E 为35.8/26.8x，长期 布局价值仍然明显，维持"跑赢行业"评级，目标价较当前股价有16.3%上涨空间。 （QoQ+20.4%），归母净利润-10.65 亿元（亏损环比增加12.9%），以固定汇率计算公司2024 全年销售 价格同比下滑8%，销量同比持平。根据公司公告，公司4Q24 单季度销量同比增加8%，毛利率为24.7% （QoQ+4.4ppt, YoY+5.3ppt），销售费用率为12.5%（QoQ-3.3ppt，YoY+0.1ppt）， ...

公司最新资产负债率为46.45%，较上季度资产负债率减少0.76个百分点。 公司最新毛利率为42.14%，在已披露的同业公司中排名第7，较上季度毛利率增加23.39个百分点。最新 ROE为2.55%，在已披露的同业公司中排名第3，较去年同期ROE增加0.16个百分点。 2025年4月29日，天府文旅(000558.SZ)发布2025年一季报。 公司营业总收入为1.79亿元，在已披露的同业公司中排名第10，较去年同报告期营业总收入增加8500.13 万元，同比较去年同期上涨90.54%。归母净利润为2778.92万元，在已披露的同业公司中排名第8，较去 年同报告期归母净利润增加131.93万元，同比较去年同期上涨4.98%。经营活动现金净流入为-5209.17万 元。 公司摊薄每股收益为0.02元，在已披露的同业公司中排名第10，较去年同报告期摊薄每股收益基本持 平，同比较去年同期上涨5.37%。 公司股东户数为8.10万户，前十大股东持股数量为5.31亿股，占总股本比例为41.15%，前十大股东持股 情况如下： | 序号 | 股东名称 | 持股比例 | | --- | --- | --- | | T | 成都 ...

Financial Performance - Total revenue for the year was approximately HK$480.5 million, a decrease from HK$548.7 million in 2023, representing a decline of about 12.5%[22] - The gross profit margin improved to approximately 20.2%, up from 16.1% in the previous year, indicating a positive trend in profitability[22] - The revenue from the Property Investment Business and the Music and Entertainment Business segments increased, contributing positively to overall performance[20] - Total revenue for the year was approximately HK$480.5 million, a decrease from HK$548.7 million in 2023, with a gross margin of 20.2% compared to 16.1% in the previous year[24] - The Manufacturing and Sales Business contributed 76.0% to total revenue in 2024, up from 63.2% in 2023, while the Property Development Business dropped from 29.3% to 14.9%[25] Business Segments - The Manufacturing and Sales Business segment saw an increase in purchase orders due to enhanced production and operational efficiency, leading to more competitive pricing[20] - The revenue from the Manufacturing and Sales Business increased by approximately 5.3% to approximately HK$365.1 million for the Year (Year 2023: approximately HK$346.6 million) due to increased sales orders from both overseas and domestic clients[43] - The segment loss margin for the Manufacturing and Sales Business decreased to approximately 4.7% (Year 2023: approximately 14.6%) attributed to improved gross profit margin and cost-saving measures[45] - Revenue from the Music and Entertainment Business increased by approximately 18.0% to approximately HK$4.7 million (Year 2023: approximately HK$4.0 million), with a segment profit of approximately HK$433,000 compared to a loss of approximately HK$3.4 million in the previous year[47] Property Development Challenges - The Property Development Business faced significant challenges due to a slowdown in the PRC's real estate sector, resulting in subdued demand for leasing and sales[12] - The segment loss for the Year was primarily due to decreased revenue caused by poor economic conditions in the PRC, leading to postponed expansion or relocation plans by purchasers[69] - The Group will reassess the risk and profitability of property development projects in light of the unfavorable property market conditions in the PRC[118] Loans and Credit Risk - New loans granted during the year amounted to approximately HK$6.5 million, an increase from HK$6.0 million in 2023, with an average loan interest rate of 16.1% compared to 18.0% in the previous year[34] - Interest income from loans decreased by approximately 12.2% to around HK$5.0 million, down from HK$5.7 million in 2023, resulting in a segment loss of approximately HK$779,000 compared to a gain of HK$3.1 million in the previous year[34] - The Group faced a concentration of credit risk, with 63% of total loans receivable due from two independent third parties, totaling approximately HK$19.4 million[38] - The Group recognized a net impairment loss on loans receivable of approximately HK$3.2 million, compared to a reversal of impairment loss of approximately HK$389,000 in 2023[34] Corporate Governance - The Company maintained compliance with all code provisions set out in the Corporate Governance Code throughout the year[149][150] - The Board consists of eight members, including two executive Directors, three non-executive Directors, and three independent non-executive Directors, ensuring a balanced composition for independent decision-making[155] - The Company has adopted the Corporate Governance Code and has complied with all its provisions during the year, with no known non-compliance incidents[159] - The independent non-executive Directors are required to keep up-to-date with the Company's business affairs and contribute independent judgment on key issues[161] Future Strategies - Future strategies include optimizing cost structures, expanding high-margin product lines, and investing in automation and digital printing technologies[11] - The Group aims to drive sustainable growth and restore profitability while enhancing product and service quality to meet evolving customer expectations[16] - The Group plans to diversify and expand operations cautiously in response to market challenges[105] - The Group will continue to upgrade machinery to enhance production efficiency, reduce defect rates, and lower manpower costs[112] Economic Outlook - The Group anticipates facing economic and political uncertainties in 2025, impacting demand across its business segments[105] - The Group expects to face various challenges in 2025 due to ongoing political and economic tensions, which may negatively impact consumer purchasing power and export sales of printing products[108] - Competition in the domestic printing market in the PRC is anticipated to intensify, prompting the Group to enhance procurement capabilities and improve production efficiency to reduce costs[111] Capital Expenditure and Commitments - Capital expenditure for property, plant, and equipment amounted to approximately HK$8.5 million, an increase of 57.4% from HK$5.4 million in the previous year[127][131] - Capital expenditure for properties under development for sale reached approximately HK$148.6 million, up 102.5% from HK$73.5 million in the previous year[127][131] - As of December 31, 2024, the Group had capital commitments of approximately HK$111.1 million, a decrease of 26.1% from HK$150.4 million as of December 31, 2023[128][132] Employee and Staff Costs - Total staff costs for the year were approximately HK$163.0 million, a decrease of 6.8% from HK$174.2 million in the previous year[136][141] - The Group had approximately 940 full-time employees as of December 31, 2024, down from approximately 1,000 in the previous year[136][141]

Receivables - The total amount of receivables is approximately HKD 19,400,000, with 63% owed by two independent third parties, compared to 53% in the previous year[5]. - The total value of receivables from the top five borrowers is approximately HKD 25,900,000, down from HKD 32,800,000 in the previous year[5]. - The amount owed to a non-controlling shareholder of a subsidiary is approximately HKD 15,900,000, slightly down from HKD 16,500,000 in the previous year[7]. Borrowings - The total borrowings as of December 31, 2024, include secured bank loans of approximately HKD 131,300,000, an increase from HKD 93,500,000 in the previous year[7]. - The company has unsecured bank borrowings of approximately HKD 16,100,000, which was not present in the previous year[8]. - The company has secured bank loans that require repayment within six years, amounting to approximately HKD 31,500,000[8]. Pledged Assets - The total value of pledged assets is approximately HKD 199,800,000, down from HKD 386,800,000 in the previous year[10]. - The company has no other pledged assets apart from those mentioned[10]. Lease Liabilities - The average interest rate for lease liabilities ranges from 2.98% to 5.88%[8]. Annual Performance Announcement - The company maintains all other information in the annual performance announcement unchanged[11].

智通财经APP讯，天府文旅(000558.SZ)发布公告，近期，公司已分别与中共大邑县委宣传部("大邑县委 宣传部")、自贡市文化广播电视和旅游局("自贡市文广旅局")、绵阳文化旅游集团有限公司("绵阳文旅 集团")、雅安文化旅游集团有限责任公司("雅安文旅集团")、广元市文化旅游康养发展集团有限公司 ("广元市文旅康养集团")签署了《影视文旅融合发展合作框架协议书》。公司拟分别与内江市文广旅 局、攀枝花市文广旅局签署《影视文旅融合发展合作框架协议书》。 协议双方拟进行项目合作，完善甲方影视配套，完善影视拍摄全产业链服务配套项目等，打造集制作、 出品、数字版权交易于一体的影视全产业链服务体系。 以上系列战略合作框架协议的签署，旨在通过多方合作推动公司深耕影视业务，延伸影视制作产业链， 促进影旅业务融合发展。一是以影视文旅为牵引，充分发挥各方优势，协同挖掘市场潜力，加深文化产 业领域的合作，推动区域旅游、文化、影视产业高质量融合发展，实现城市IP与影视IP的有机联动，打 造影视文旅地标。二是深耕影视制片服务，拟进一步完善影视制作业务中专业化勘景、服化道支持体 系，以及为剧组提供吃住行服务等业务，同时建立拍景资源 ...

Revenue Performance - Total revenue for the year ended December 31, 2024, was HKD 480,543,855, a decrease of 12.4% compared to HKD 548,688,967 in 2023[2] - Revenue from goods and services decreased to HKD 467,945,752, down 13.3% from HKD 540,232,497 in the previous year[2] - Rental income increased significantly to HKD 7,615,773, up 173.5% from HKD 2,783,890 in 2023[2] - The lending business generated revenue of HKD 4,982,330, down 12.2% from HKD 5,672,580 in the previous year[20] - The manufacturing and sales business reported revenue of HKD 365,060,228, an increase of 5.3% from HKD 346,642,843 in 2023[20] - The music and entertainment business saw revenue rise to HKD 4,703,192, up 18.0% from HKD 3,985,706[20] - Property development revenue decreased significantly to HKD 71,428,074, down 55.6% from HKD 160,429,227[20] - The property investment business generated revenue of HKD 7,615,773, a substantial increase from HKD 2,783,890 in 2023[20] Profit and Loss - Gross profit for the year was HKD 97,225,823, an increase of 10.5% from HKD 88,347,519 in 2023[3] - The company reported a loss before tax of HKD 72,515,182, slightly improved from a loss of HKD 74,716,847 in the previous year[3] - The net loss for the year was HKD 77,101,473, compared to a net loss of HKD 82,071,950 in 2023, indicating a 6.5% improvement[4] - The company reported a total comprehensive loss of HKD 65,338,710 for the year ended December 31, 2023, compared to a loss of HKD 97,012,358 for the year ended December 31, 2024[7] - Basic loss per share improved to HKD (30.39) from HKD (32.35) in the previous year[4] Assets and Liabilities - Total assets decreased to HKD 745,607,517 from HKD 690,422,827, reflecting a growth of 8.0%[5] - Current liabilities increased significantly to HKD 367,336,524, up 37.7% from HKD 266,695,942 in 2023[6] - The company's net asset value decreased to HKD 625,789,729 from HKD 722,802,087, a decline of 13.4%[6] - Total assets as of December 31, 2024, amounted to HKD 1,077,092,328, compared to HKD 1,068,154,181 in 2023[22] - Total liabilities increased to HKD 451,302,599 in 2024 from HKD 345,352,094 in 2023[22] Cash Flow and Investments - The company recognized a foreign exchange loss of HKD 12,257,535 from overseas operations during the year[7] - The company transferred HKD 38,512,183 from property, plant, and equipment to investment properties, reflecting a strategic shift in asset allocation[7] - The group received cash investment income of approximately HKD 3,000,000 from Zhong Wei during the year, recorded as other income[70] Financial Ratios - The group’s current ratio decreased to 2.0 times in 2024 from 2.6 times in 2023, and the quick ratio fell to 1.1 times from 1.5 times[73] - The debt-to-equity ratio increased to 34.1% in 2024 from 22.6% in 2023, primarily due to an increase in total borrowings[76] Operational Highlights - The company has implemented new accounting standards that had no significant impact on its financial position or performance for the current and prior years[11] - The company successfully delivered new industrial buildings and dormitories, adjusting sales and marketing strategies in response to challenges in the property development market[41] - The group has delivered approximately 83,000 square meters of total floor area, representing about 20% of the estimated total development area of the Zhongxing Industrial Park[63] Future Outlook - The group anticipates facing various challenges in 2025 due to ongoing economic and political uncertainties, including increased trade tariffs and weakened purchasing power among customers[79] - The group plans to carefully review strategies across all business segments and diversify its operations in response to complex market conditions[79] - The group plans to expand its lending business despite anticipated risks due to increased market competition[80] Corporate Governance - The board emphasizes the importance of good corporate governance practices to enhance shareholder value and investor confidence[100] - All directors confirmed compliance with the standard code of conduct for securities trading during the year[101] Miscellaneous - The company has not adopted new Hong Kong Financial Reporting Standards that are not yet effective, indicating a cautious approach to regulatory changes[13] - The company did not declare or recommend any dividends for the years ending December 31, 2024, and 2023[32] - The audit committee reviewed the financial statements and the group's performance for the year, with Deloitte providing an unqualified opinion on the financial statements[102]

NO Neway Group Holdings Limited 中 星 集 團 控 股 有 限 公 司 (Incorporated in Bermuda with limited liability 於百慕達註冊成立之有限公司) Stock Code 股份代號: 00055 24 Interim Report 中 期 報 告 | --- | --- | |------------------------------------------------|------------------------------------------------| | | | | CORPORATE INFORMATION | 公司資料 | | BOARD OF DIRECTORS | 董事會 | | Executive directors: | 執行董事︰ | | Mr. SUEK Ka Lun, Ernie (Chairman) | 薛嘉麟先生 （主席） | | Mr. SUEK Chai Hong (Chief Executive Officer) | 薛濟匡先生 （行政總裁） | | Non-executive di ...

Financial Performance - Total revenue for the six months ended June 30, 2024, was HKD 199,197,000, an increase of 7.4% compared to HKD 185,114,000 for the same period in 2023[1] - Gross profit for the same period was HKD 43,468,000, significantly up from HKD 6,497,000 in 2023, indicating a substantial improvement in profitability[2] - The company reported a loss before tax of HKD 39,534,000, a reduction of 42.8% from a loss of HKD 68,893,000 in the previous year[2] - The net loss attributable to the owners of the company for the period was HKD 40,056,000, down from HKD 57,287,000 in 2023, reflecting a 30.1% improvement[3] - The company reported a total comprehensive loss of HKD 73,208,000 for the six months ended June 30, 2024, compared to a loss of HKD 57,287,000 for the same period in 2023[6] - Basic loss per share for the six months ended June 30, 2024, was HKD 40,056, compared to HKD 57,287 for the same period in 2023[25] Revenue Breakdown - The total revenue for the six months ended June 30, 2024, was HKD 199,197,000, an increase of 7.4% from HKD 185,114,000 in the same period of 2023[14] - Revenue from manufacturing and sales increased to HKD 177,671,000, up from HKD 165,539,000, reflecting a growth of 7.3%[10] - Revenue from the music and entertainment segment rose to HKD 1,814,000, compared to HKD 1,408,000, marking a growth of 28.8%[10] - The company’s revenue from the Hong Kong market was HKD 70,384,000, an increase from HKD 68,965,000, reflecting a growth of 2.0%[11] - Revenue from the China market was HKD 88,989,000, slightly up from HKD 88,442,000, indicating a growth of 0.6%[11] Assets and Liabilities - Cash and cash equivalents increased to HKD 120,175,000 from HKD 99,494,000, representing a 20.7% rise[4] - Total assets as of June 30, 2024, were HKD 800,936,000, compared to HKD 690,423,000 at the end of 2023, marking a 15.9% increase[4] - Current liabilities rose to HKD 367,768,000 from HKD 266,696,000, indicating a 37.8% increase[5] - The company's net asset value decreased to HKD 674,313,000 from HKD 722,802,000, a decline of 6.7%[5] - Total liabilities increased to HKD 452,773,000 from HKD 345,352,000, representing a rise of 31.1%[16] Operational Efficiency - The company reported a significant reduction in selling and distribution expenses to HKD 12,677,000 from HKD 16,341,000, a decrease of 22.1%[2] - The manufacturing and sales business reported a loss of HKD 8,617,000, compared to a loss of HKD 50,246,000 in the previous year, indicating an improvement in performance[14] - Gross margin for the manufacturing and sales business increased by 19.8% to approximately 17.9%, attributed to cost-saving measures and reduced material consumption[44] Investments and Development - The group acquired properties, plants, and equipment worth approximately HKD 546,000 for the six months ending June 30, 2024, compared to HKD 1,300,000 for the same period in 2023[26] - The total value of properties held for sale and under development increased to HKD 333,346,000 as of June 30, 2024, from HKD 258,459,000 as of December 31, 2023[28] - The company has begun pre-sales of properties under development, collecting deposits from customers as part of its sales agreements[37] - The company is actively seeking potential property development and management projects in China[53] Corporate Governance - The audit committee consists of one non-executive director and two independent non-executive directors, who reviewed accounting policies and discussed the group's audit, internal controls, risk management, and financial reporting matters[71] - The board acknowledges the importance of good corporate governance practices in maintaining and enhancing shareholder value and investor confidence[74] - The group's interim results for the period are unaudited but have been reviewed by the audit committee and the group's auditor, Deloitte[75] Future Outlook - The company plans to allocate resources to expand its music licensing business and invest in music performances in overseas markets and the Greater Bay Area[46] - The company plans to enhance sales and marketing efforts for the industrial park, including organizing more visits for potential clients and providing additional sales incentives to property agents[53] - The group plans to continue allocating more resources to expand and develop sales teams in Hong Kong, overseas, and China to optimize the product portfolio and provide more value-added services[58]

Economic Challenges - The Group faced significant challenges in various business segments, with the US import market declining by double digits during the year[12]. - A conservative approach will be maintained to address global economic challenges, including geopolitical issues and rising interest rates[18]. - The overall economic environment, including the impact of the Ukraine war, has led to increased logistics costs and changes in customer procurement strategies[12]. - The Group expects to face challenges in 2024 due to economic and political uncertainties, which may negatively impact customer purchasing power, particularly in the Manufacturing and Sales Business and Trading Business[115][118]. Business Performance - Total revenue for the year was approximately HK$548.7 million, an increase of 22.1% from HK$449.4 million in 2022[24]. - Gross profit margin decreased to approximately 16.1% from 21.0% in the previous year[24]. - The Lending Business generated revenue of approximately HK$5.7 million, a 49.9% increase from HK$3.8 million in 2022[38]. - The Property Development Business contributed approximately HK$160 million in revenue from the delivery of industrial buildings[24]. - The Manufacturing and Sales Business revenue decreased to approximately HK$346.6 million, representing 63.2% of total revenue, down from 91.6% in 2022[27]. - The revenue from the music and entertainment segment increased by approximately 4.7% to about HK$4.0 million, with over 60% derived from musical work licensing income[51]. Financial Position - The Group's total borrowings as of December 31, 2023, amounted to approximately HK$163.4 million, a decrease from approximately HK$195.9 million as of December 31, 2022[103][107]. - The current ratio as of December 31, 2023, was 2.6 times, down from 3.0 times in the previous year, primarily due to an increase in contract liabilities of approximately HK$27.1 million[104][102]. - The gearing ratio decreased from 24.9% in 2022 to 22.6% in 2023, attributed to a reduction in total borrowings[104][102]. - The Group's cash and cash equivalents as of December 31, 2023, were approximately HK$196.1 million, slightly down from approximately HK$200.9 million in 2022[104][105]. Corporate Governance - The Company complied with the Corporate Governance Code throughout the year, with no incidents of non-compliance noted[163]. - The Board comprises eight members, including two executive directors, three non-executive directors, and three independent non-executive directors, ensuring a balance of expertise and experience[165]. - The Company is committed to enhancing its corporate governance practices in line with the latest developments[162]. - The Company appointed Ms. SIN Chui Pik, Christine on 28 September 2023, restoring compliance with multiple Listing Rules[179]. Strategic Initiatives - The Group has implemented restructuring measures to enhance efficiency and resilience, which will continue to be intensified in 2024[17]. - The Group aims to focus on sustainability through diversification and dedication to core businesses[17]. - The Group plans to extend its supply chain to better meet changing customer demands[17]. - The Group plans to enhance its procurement ability and production efficiency to reduce overall production costs in the Manufacturing and Sales Business, amidst intensified competition in the domestic market[117][120]. Property Development - As of December 31, 2023, Zhongda Qingyuan has completed approximately 79% of the construction work for the first stage of the Zhongxing Industrial Park, which includes 20 industrial buildings with a total gross floor area of approximately 139,000 sq. m.[68]. - The total construction area of the Zhongxing Industrial Park is approximately 165,000 sq. m., with around 70% completed as of the report date[69]. - The Group has provided financial guarantees of approximately HK$134 million related to transitional guarantees for mortgage loans to purchasers of the industrial buildings[75]. - The Group has signed provisional sales agreements for industrial buildings with a total gross floor area of approximately 27,000 sq. m, expecting delivery to purchasers in 2024[130]. Employee and Operational Changes - The Group's total staff costs for the year were approximately HK$174.2 million, compared to HK$189.6 million in 2022, with a reduction in full-time employees from approximately 1,190 to 1,000[153]. - As of December 31, 2023, the Group had approximately 1,000 full-time employees, a decrease from about 1,190 employees as of December 31, 2022[157]. - Directors are encouraged to attend external seminars and training programs at the Company's expense to stay updated on legal, regulatory, and market changes[200].