公司牛肉业务有望受益牛价反转，谨慎预估若景气高点较2024 年底部涨价22%至2022 年前高均价，牛 羊肉归母净利增厚约5.2 亿元。公司子公司银蕨农场近五年全年牛羊肉产销量接近35-40 万吨，占新西 兰总产量30%，其中牛肉占比接近60%，主要出口至中国和美国，有望受益于未来全球牛肉价格上行趋 势。此外，公司旗下的综合食品、生猪养殖及肉制品等非牛肉业务板块合理估值预计接近65-72 亿元。 公司牛羊肉业务2023-2024 年由于牛价低迷导致业绩亏损，未来伴随牛价周期上行或迎净利扭亏，估值 有望迎来修复。 盈利预测与估值：首次覆盖，给予"优于大市"评级。我们预计公司2025-2027年归母净利分别为 4.96/6.01/7.05 亿元， 利润年增速分别为129.7%/21.1%/17.3%，每股收益分别为0.53/0.64/0.75 元，预估 合理价格区间为10.4-11.1 元，较当前股价有28-37%溢价空间。 风险提示：行业发生不可控牛羊猪疫情死亡事件，贸易政策变化引发的盈利不确定性风险，牛羊猪价格 大幅波动带来的盈利波动。 公司是较为稀缺的优质牛肉上市标的，拥有新西兰稳定的牛羊肉资源。公司前身为 ...

2025年4月29日，*ST中地(000736.SZ)发布2025年一季报。 公司截至2025年3月31日，*ST中地营业总收入为117.70亿元，在已披露的同业公司中排名第7，较去年 同报告期营业总收入增加81.39亿元，实现2年连续上涨，同比较去年同期上涨224.19%。截至2025年3月 31日，*ST中地归母净利润为-4.93亿元，在已披露的同业公司中排名第85，较去年同报告期归母净利润 减少2.77亿元。截至2025年3月31日，*ST中地经营活动现金净流入为-1.06亿元，在已披露的同业公司中 排名第64，较去年同报告期经营活动现金净流入减少13.40亿元，同比较去年同期下降108.56%。 公司股东户数为5.09万户，前十大股东持股数量为4.57亿股，占总股本比例为61.12%，前十大股东持股 情况如下： | 序号 | 股东名称 | 持股比例 | | --- | --- | --- | | I | 中交房地产集团有限公司 | 52.16% | | 2 | 重庆渝富资本运营集团有限公司 | 3.80% | | 3 | 湖南华夏投资集团有限公司 | 1.36% | | 4 | 香港中央结算有限公司 ...

1） 生猪养殖业务：亏损进一步缩窄，毛利率3.16%（ yoy+17.01pct）公司持续推进降本增效和内部协 同，2024 年该板块实现营收18.96 亿元（yoy+51.24%），子公司光明农牧公司实现营收18.96 亿元 （yoy+51.24%），净利润亏损3.79 亿元，较2023 年亏损大幅缩窄，全年生猪出栏量101.9 万头； 2） 生猪屠宰、深加工及分销：收入规模整体承压，多渠道发力2024 年该板块实现营收45.96 亿元 （yoy-9.88%），其中猪肉制品营收31.66（yoy-7.43%），罐头食品营收14.30 亿元（yoy-14.88%）。 事件：3 月28 日，公司发布2024 年年报，2024 年公司实现营收219.87 亿元（yoy-1.70%），实现归母净 利润2.16 亿元（yoy-4.22%），实现扣非归母净利润0.86 亿元（ yoy-43.64%）。其中2024Q4 实现营收 56.03 亿元（yoy-5.36%），实现归母净利润-1.65 亿元（yoy-78.22%），实现扣非归母净利润-2.06 亿元 （yoy-139.40%）。 2024 年品牌食品增长稳健，肉 ...

Financial Performance - Revenue for the six months ended December 31, 2024, was RMB 36.8 million, a decrease of 40.0% compared to RMB 61.3 million in the same period of 2023[3] - The company reported a pre-tax loss of RMB 17.8 million, which is an increase of 52.1% from a loss of RMB 11.7 million in the previous year[3] - The company recorded total revenue of approximately RMB 36,800,000 for the review period, a decrease of 40.0% compared to RMB 61,300,000 for the same period last year[13] - The fruit distribution business generated revenue of approximately RMB 7,900,000, a decline of 68.8% from RMB 25,400,000 in the previous year[16] - The air conditioning distribution business reported revenue of approximately RMB 26,900,000, down 25.1% from RMB 35,900,000 in the same period last year[17] - The company reported a loss attributable to owners of approximately RMB 14,500,000, an increase from RMB 11,800,000 in the previous year[23] - The company recorded a total comprehensive loss of RMB (14,328) thousand for the six months ended December 31, 2024, compared to a total comprehensive loss of RMB (12,618) thousand for the same period in 2023[51] - The group incurred a loss of RMB 17,825 thousand for the six months ended December 31, 2024, compared to a loss of RMB 11,814 thousand for the same period in 2023, indicating a worsening of approximately 50%[60] Assets and Liabilities - Total assets decreased by 8.2% to RMB 146.9 million as of December 31, 2024, down from RMB 160.1 million[4] - The company's total assets as of December 31, 2024, were RMB 146,895 thousand, down from RMB 160,068 thousand as of June 30, 2024[47] - The group’s total liabilities increased to RMB 24,651 thousand as of December 31, 2024, compared to RMB 23,087 thousand as of June 30, 2024, marking an increase of approximately 7%[60] - The company's current ratio and quick ratio as of December 31, 2024, are approximately 3.8 and 3.5, respectively, compared to 5.1 and 4.6 as of June 30, 2024[33] - The net asset liability ratio increased from approximately -3.5% as of June 30, 2024, to approximately 2.8% as of December 31, 2024, primarily due to a decrease in cash and cash equivalents[36] Cash Flow and Financing - Cash and cash equivalents fell by 53.6% to RMB 7.8 million from RMB 16.8 million[4] - The company reported a net cash outflow from operating activities of RMB (6,139) thousand for the six months ended December 31, 2024, compared to RMB (21,459) thousand for the same period in 2023, indicating an improvement in cash flow management[52] - The group had approximately RMB 11,200,000 in bank loans and other borrowings as of December 31, 2024, down from RMB 12,000,000 as of June 30, 2024[33] - The company raised RMB 2,940 thousand through non-controlling interest injections during the reporting period, contributing to its financing activities[52] - The group obtained financing of RMB 1,000,000 from a licensed lender in China, with an annual interest rate of 5.9%, to be repaid by September 23, 2024[102] Operational Strategy - The company plans to optimize its planting strategy to manage overall yield and crop production, focusing on high-value fruits[7] - The air conditioning distribution business, launched in late 2021, aims to diversify revenue sources and is currently in a development phase[7] - The company will continue to monitor macroeconomic conditions and adjust strategies for its planting and fruit distribution businesses to maintain competitiveness[11] - The company emphasizes the importance of operational efficiency and plans to expand into the commercial building market to enhance economies of scale[11] Employee and Management - Employee costs increased to approximately RMB 8,300,000, up by RMB 2,700,000 compared to RMB 5,600,000 in the same period last year[19] - The group has adopted a competitive compensation scheme to attract and retain talent, with 90 long-term employees as of December 31, 2024, up from 61 as of June 30, 2024[39] - The total remuneration for key management personnel for the six months ended December 31, 2024, was RMB 935,000, an increase from RMB 863,000 in the previous year[104] Risks and Challenges - The geopolitical tensions may continue to impact consumer confidence and economic activity in China, affecting the company's outlook[8] - The company faces risks from climate change and natural disasters that could significantly impact productivity and financial performance in its planting business[25] - The company faces various risks related to its cultivation, including regulatory, supply and demand, climate, and price risks, which are actively managed through regular reviews and market analysis[82][83][84][85] Shareholder and Capital Management - The board did not recommend the payment of an interim dividend for the six months ended December 31, 2023[29] - The company has no capital commitments as of December 31, 2024[37] - The company underwent a capital reorganization, reducing the total issued shares from 2,980,105,859 to 14,900,529 through a share consolidation[94] - The company's capital management strategy remains consistent with the previous year, focusing on maximizing shareholder value[97] Compliance and Governance - The company has adopted the corporate governance code as per the listing rules and has complied with all provisions of the code[121][122] - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing the company's financial controls and risk management systems[126]

铜关税引爆市场！板块异动拉升，000737，3天2板！ | ◎ 隐藏标签 | 最新, | 涨幅↓ | 活动 | | --- | --- | --- | --- | | 福达合金 | 17.99 | 10.03% | 1.6 | | 603045 融 | | | | | 今日首板 | | | | | 众源新材 | 10.99 | 10.01% | 1.0 | | 603527 融 | | | | | 今日首板 | | | | | 合金投资 | 5.43 | 9.92% | 0.4 | | 000633 | | | | | 今日首板 股吧人气 | | | | | 锐新科技 | 18.00 | 8.24% | 1.3 | | 300828 | | | | | 北方铜业 | 12.57 | 6.35% | 0.7 | | 000737 融 | | | | | 人气龙头 股吧人气 | | | | | 精艺股份 | 8.18 | 5.01% | 0.3 | | 002295 | | | | | 宁波富邦 | 9.71 | 4.07% | 0.3 | | 600768 | | | | | 白相右仔 | | | | | | ...

Financial Performance - The group's revenue for the review period was approximately RMB 36,800,000, a decrease of 40.0% compared to RMB 61,300,000 for the same period last year [18]. - The company reported a loss attributable to shareholders of approximately RMB 14,500,000, compared to RMB 11,800,000 for the six months ending December 31, 2023 [32]. - The company reported a net loss of CNY (17,825,000) for the current period, compared to a net loss of CNY (11,814,000) in the prior period, reflecting a worsening financial position [54]. - The company’s total comprehensive loss for the period was RMB 17,677,000, compared to RMB 12,618,000 in the previous year, indicating an increase of about 40.2% [55]. - The company reported a basic and diluted loss per share of RMB 14,476 for the six months ended December 31, 2024, compared to RMB 11,814 for the same period in 2023 [90]. Revenue Breakdown - The fruit distribution business recorded revenue of approximately RMB 7,900,000, a significant decrease of 68.8% compared to RMB 25,400,000 for the same period last year [22]. - The air conditioning distribution business generated revenue of approximately RMB 26,900,000, down 25.1% from RMB 35,900,000 for the same period last year [23]. - The new consumer products and other sales and distribution business contributed approximately RMB 300,000, still in the early development stage [24]. - Revenue from Customer A amounted to 6,857,000 RMB for the six months ended December 31, 2024, while Customer B contributed 9,861,000 RMB [78]. - The sales of fruits amounted to RMB 1,595,000, while air conditioning sales reached RMB 26,905,000 for the six months ended December 31, 2024 [80]. Operational Strategies - The group plans to expand its air conditioning distribution business to diversify revenue sources and mitigate risks associated with other business segments [8]. - The group aims to enhance operational efficiency and core competitiveness to address current challenges and improve overall competitiveness [11]. - The group plans to adjust its planting and fruit distribution strategies to maintain competitiveness in response to market conditions [14]. - The group is developing online and offline sales and distribution channels for consumables and other products through its joint ventures [10]. - The group aims to enhance operational efficiency and expand into the commercial building market [14]. Cost Management - Employee costs for the period amounted to RMB 8,300,000, an increase of RMB 2,700,000 compared to RMB 5,600,000 for the six months ending December 31, 2023 [27]. - General and administrative expenses reached approximately RMB 10,500,000, an increase from RMB 7,800,000 for the six months ending December 31, 2023 [29]. - The company has adopted a strict cost control and prudent financial policy to ensure sufficient operating funds [45]. - The total operating expenses increased to CNY (10,455,000) from CNY (7,779,000), which may affect future operational efficiency [54]. Market Conditions - The geopolitical tensions may continue to impact consumer confidence and economic activity in China in the short term [11]. - The fruit distribution business is expected to face challenges in demand recovery due to slow domestic consumption improvement [37]. - The group remains optimistic about the gradual improvement of the Chinese consumer market, despite potential external factors affecting the pace of recovery [14]. - The company faces risks from climate change and natural disasters affecting its fruit planting operations [34]. Financial Position - As of December 31, 2024, the group had bank borrowings and other debts amounting to approximately RMB 11,200,000, down from RMB 12,000,000 on June 30, 2024 [44]. - The group's cash and cash equivalents were approximately RMB 7,800,000 as of December 31, 2024, a decrease from RMB 16,800,000 on June 30, 2024 [44]. - The current ratio and quick ratio as of December 31, 2024, were approximately 3.8 and 3.5, respectively, compared to 5.1 and 4.6 on June 30, 2024 [44]. - The net asset liability ratio increased from approximately -3.5% on June 30, 2024, to approximately 2.8% on December 31, 2024, primarily due to a decrease in cash and cash equivalents [47]. Governance and Compliance - The audit committee, composed of three independent non-executive directors, is responsible for reviewing the company's financial controls and risk management systems [108]. - The company has adhered to all corporate governance rules as of December 31, 2024 [105]. - The board of directors includes one executive director and three independent non-executive directors, indicating a diverse governance structure [109]. Future Outlook - The group believes in the long-term growth potential of the Chinese market despite facing challenges during the review period [7]. - The company has not provided specific guidance for future performance, but the current trends indicate challenges ahead [54]. - The company has not disclosed any other customers contributing more than 10% of total revenue during the periods [79].

Financial Performance - Revenue for the fiscal year ending June 30, 2024, was RMB 168.6 million, representing a 53.3% increase from RMB 110.0 million in the previous year[2] - The company reported a loss attributable to shareholders of RMB 25.6 million, a 56.4% improvement compared to a loss of RMB 58.7 million in the prior year[2] - Total assets decreased by 14.9% to RMB 160.1 million from RMB 188.1 million year-over-year[3] - The net cash and cash equivalents fell by 35.6% to RMB 16.8 million from RMB 26.1 million[3] - The current ratio improved by 88.9% to 5.1 from 2.7 in the previous year, indicating better short-term financial health[3] - Other income and gains amounted to approximately RMB 5.1 million, compared to RMB 4.8 million in the previous year, mainly from government subsidies and interest income from receivables[24] - The company reported a loss attributable to owners of approximately RMB 25.6 million for the year ending June 30, 2024, a decrease from RMB 58.7 million in 2023, primarily due to the absence of impairment losses on result plants and gains from financial assets[34] - The company has no reserves available for distribution as of June 30, 2024, mirroring the situation from the previous year[65] - The company does not recommend a final dividend for the year ending June 30, 2024, consistent with the previous year[41] Business Operations - The company shifted its focus in the planting business to passion fruit, aiming to improve fruit quality and yield without significant resource investment[9] - The distribution business recorded significant year-on-year revenue growth, contributing positively to the overall financial performance[10] - The fruit distribution business generated revenue of approximately RMB 106.5 million, up 91.5% from RMB 55.6 million in the previous year, primarily due to the acquisition of Shaanxi Pinshang Agricultural Products Trading Co., Ltd.[22] - The air conditioning distribution business achieved revenue of approximately RMB 60.8 million, a 13.1% increase from RMB 53.8 million in the previous year, driven by market expansion in Shenzhen[23] - The planting business, focusing on passion fruit cultivation, recorded revenue of approximately RMB 1.3 million, up 98.9% from RMB 0.7 million in the previous year[20] - The group anticipates continued growth in domestic consumption in China, driven by an expanding middle class, despite competitive pressures and price sensitivity in the market[17] - The group aims to enhance operational efficiency and gradually expand its business scale in the air conditioning distribution sector, which is becoming a necessity for Chinese households[17] Strategic Initiatives - The company successfully raised approximately HKD 15.5 million through a rights issue in the second half of 2023 to support business development[6] - The company aims to optimize resource allocation by reallocating funds initially intended for a distribution center to enhance the planting business in Guangxi Province[9] - The board will continue to seek suitable market opportunities while managing operations effectively to improve overall profitability and shareholder returns[16] - The company announced a proposed rights issue at a subscription price of HKD 0.035 per share, aiming to raise up to approximately HKD 43.7 million[43] - The planned use of the rights issue proceeds includes HKD 7.13 million for inventory purchases and HKD 1.38 million for repaying bank loans[90] Risk Management - The company is maintaining flexibility in its overall strategy to respond to economic risks and geopolitical tensions[11] - The company faces risks from climate change and natural disasters that could significantly impact the productivity of its fruit plantations, ultimately affecting revenue and financial performance[35] - The management acknowledges the challenges faced in the planting business due to external factors such as weather and pests, and is implementing tailored solutions to mitigate these risks[18] Corporate Governance - The board consists of five members, including one executive director, one non-executive director, and three independent non-executive directors[116] - The company has established a remuneration committee to review and approve the overall remuneration policy and compensation packages for executive directors and senior management[101] - The company has received annual independence confirmations from all independent non-executive directors, and the board considers them to be independent[73] - The company has established three committees: audit, nomination, and remuneration, each with specific responsibilities[133] - The board has established a mechanism for assessing its independence, with satisfactory results from the annual review[125] - The company emphasizes transparency and accountability to investors and shareholders through its governance practices[113] Environmental, Social, and Governance (ESG) - The company is committed to complying with all local environmental laws and regulations while promoting environmental awareness among employees and business partners[185] - The company has invested in energy-saving technologies, such as solar installations and building design improvements, to reduce energy and fuel consumption[195] - The company aims to minimize adverse environmental impacts while maximizing shareholder returns through effective resource utilization and cost reduction[1] - The company identified key ESG areas for the 2023/2024 fiscal year, including air emissions, resource usage, and health and safety[175] - The management team regularly assesses ESG activities and reports to the board for approval and implementation, ensuring compliance with relevant laws and regulations[169] Employee and Talent Management - The company has adopted a competitive compensation scheme to attract and retain talent, with 61 long-term employees as of June 30, 2024, up from 59 in 2023[52] - The remuneration committee has adopted a competitive compensation policy for directors and senior executives, balancing fixed and variable remuneration to attract and retain talent[138] - As of June 30, 2024, the annual remuneration for senior management (excluding directors) is categorized, with one individual earning up to RMB 1 million[142] Shareholder Engagement - The company maintains a shareholder communication policy to ensure transparency and interaction with shareholders, utilizing various channels such as press releases and reports[154] - Stakeholder engagement is prioritized, with various communication channels established to gather feedback and address concerns from shareholders, employees, customers, and suppliers[172]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何 部 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 ASIAN CITRUS HOLDINGS LIMITED 亞洲果業控股有限公司 （於百慕達註冊成立的有限公司） （股份代號：73） 截 至 二 零 二 四 年 六 月 三 十 日 止 年 度 全 年 業 績 公 告 亞 洲 果 業 控 股 有 限 公 司（「本 公 司」）董 事（「董 事」）會（「董 事 會」）宣 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 四 年 六 月 三 十 日 止 年 度 經 審 核 綜 合 業 績，連 同 截 至 二 零 二 三 年 六 月 三 十 日 止 年 度 之 比 較 數 字。 財 務 摘 要 | --- | --- | --- | --- | |- ...

智通财经APP讯，亚洲果业(00073)发布公告，有关公司全资附属公司Cheer Kind与合营伙伴订立合营协议的相关事宜。根据合营协议，合营公司将于中国从事二手车中介及买卖业务。 基于内部理由及合营公司的初步计划尚未落实，合营伙伴决定终止合营协议项下拟进行活动。Cheer Kind与合营伙伴于2024年4月18日订立终止协议，双方互相协定终止合营协议(终止)，并解除及取消各自于其项下的责任，自终止协议日期起生效。 于本公告日期，除有关合营协议及成立合营公司产生的初步设立成本及专业费用外，公司并无产生与合营协议有关的其他重大资本承担及开支。根据终止协议，Cheer Kind及合营伙伴确认，合营协议项下一切权利及责任已告终止。截至本公告日期，合营公司尚未展开业务营运，亦未订立任何合约或对外产生任何负债。 董事会认为，终止不会对集团的财政状况及营运构成任何重大不利影响。 ...

Revenue Performance - Revenue for the six months ended December 31, 2023, was RMB 61.3 million, representing a 190.5% increase compared to RMB 21.1 million in the same period of 2022[2] - The group recorded total revenue of approximately RMB 61,348,000 for the review period, a significant increase of 190.1% compared to RMB 21,145,000 in the same period last year[21] - For the six months ended December 31, 2023, the total revenue from external customers was RMB 61,348 thousand, compared to RMB 21,145 thousand for the same period in 2022, representing a growth of approximately 189%[79] - Revenue from fruit distribution business was RMB 25,443,000 for the six months ended December 31, 2023, up from RMB 1,247,000 in the same period of 2022, indicating a growth of about 1,943%[87] - Revenue from air conditioning distribution business increased to RMB 35,905,000 in the first half of 2023, compared to RMB 19,898,000 in the same period of 2022, reflecting an increase of approximately 80%[87] Business Segments - The air conditioning distribution business generated revenue of approximately RMB 35.9 million during the review period, reflecting growth from the previous year[9] - The planting business generated revenue of approximately RMB 60,000, reflecting a decrease of 90.1% due to adverse weather conditions affecting crop quality[24] - The fruit distribution business achieved revenue of approximately RMB 25,400,000, marking a substantial increase of 3,672.1% compared to RMB 700,000 in the previous year, aided by the acquisition of Shanxi Pinshang[25] - The air conditioning distribution business reported revenue of approximately RMB 35,900,000, an increase of 80.4% from RMB 19,900,000 in the same period last year, driven by rising demand for air conditioning in Chinese households[27] Financial Position - Total assets as of December 31, 2023, were RMB 179.8 million, a decrease of 4.4% from RMB 188.1 million in June 2023[3] - Current assets increased by 12.4% to RMB 67.0 million from RMB 59.6 million in June 2023[3] - Cash and cash equivalents decreased by 8.0% to RMB 24.0 million from RMB 26.1 million in June 2023[3] - The company’s equity increased by 2.1% to RMB 151.1 million from RMB 148.0 million in June 2023[3] - Total liabilities decreased to RMB 28,660 thousand from RMB 40,150 thousand as of June 30, 2023, indicating a reduction in financial obligations[79] Loss and Expenses - The loss before tax improved by 38.1%, reducing to RMB 11.7 million from RMB 18.9 million in the previous year[2] - The company recorded a net loss attributable to shareholders of RMB (11,814,000) for the six months ended December 31, 2023, an improvement from a loss of RMB (18,634,000) in the prior year[60] - Employee costs increased slightly by 5.7% to approximately RMB 5,600,000, mainly due to the inclusion of costs from Shanxi Pinshang and an increase in staff at Jinlong Construction[29] - General and administrative expenses rose to approximately RMB 7,800,000, up from RMB 5,700,000 in the previous year, largely due to costs associated with corporate actions[32] Cash Flow and Financing - Cash used in operating activities for the six months ended December 31, 2023, was RMB (24,447) thousand, slightly higher than RMB (22,510) thousand in the previous year[69] - The net cash generated from financing activities was RMB 14,198 thousand, compared to RMB 4,975 thousand in the previous year, primarily due to the issuance of shares amounting to RMB 15,761 thousand[69] - The company’s cash and cash equivalents decreased by RMB 1,999 thousand, ending the period at RMB 24,003 thousand[69] - The company obtained bank loans totaling RMB 6,900,000 during the six months ended December 31, 2023, with a remaining balance of RMB 4,185,000 secured against prepayments to suppliers[130] Share Capital and Equity - As of December 31, 2023, the company issued a total of 2,980,105,859 shares, increasing from 2,499,637,884 shares as of June 30, 2023, through a rights issue raising up to approximately HKD 43,700,000[42] - The company issued 480,467,975 new shares through a rights issue, raising approximately RMB 15,761,000, which will enhance its capital base[121] - The company plans a capital reorganization involving a share consolidation where every 200 existing shares of HKD 0.01 will be consolidated into 1 share of HKD 2.00[142] - The company’s total equity increased to RMB 151,105,000 as of December 31, 2023, compared to RMB 147,962,000 at the end of the previous period[62] Risk Management - The group faced various risks related to its cultivation, including regulatory, supply and demand, climate, and price risks, which are actively managed through regular reviews and market analysis[108][109][110] - The company has established a credit control department to mitigate credit risk and regularly reviews overdue balances by senior management[113] Corporate Governance - The company has fully complied with the corporate governance code during the reporting period[167] - The audit committee, consisting of three independent non-executive directors, reviewed the effectiveness of financial controls and risk management systems[171] - Changes in the board composition include the resignation of Mr. Ng Ong Nee as executive director and chairman on November 25, 2023, and the appointment of Ms. Li Ziying as executive director and chairman on the same date[169]