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佈之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部分內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 YUSEI HOLDINGS LIMITED 友成控股有限公司* （於開曼群島註冊成立之有限公司） (股份代號: 96) 截至二零二二年十二月三十一日止年度 經審核年度業績公佈 友成控股有限公司（「本公司」）之董事會現呈列本公司及其附屬公司（「本集團」）於 截至二零二二年十二月三十一日止年度之經審核綜合業績 (業績已經本公司審計委員會審 閱)，連同二零二一年比較數字如下： 綜合損益表 截至二零二二年十二月三十一日止年度 附註 二零二二年 二零二一年 人民幣千元 人民幣千元 營業額 3 1,765,736 1,462,235 銷售成本 (1,562,695) (1,296,055) 毛利 203,041 166,180 其他經營收入及收益 4 38,782 29,785 外幣匯兌(損)益淨額 (113) 95 銷售費用 (106,317) (70,796) 管理費用 (62,869) (55,412) 財務 ...

Financial Performance - For the six months ended June 30, 2022, the total sales revenue was approximately RMB 726,193,000, representing an increase of about 0.9% compared to RMB 719,430,000 for the same period in 2021[14]. - The gross profit for the same period was approximately RMB 78,695,000, a decrease of about 14.0% from RMB 91,466,000 in the previous year[14]. - The profit attributable to shareholders decreased to approximately RMB 11,537,000 from RMB 17,622,000 in the previous year[17]. - The company reported a pre-tax profit of RMB 16,518 thousand, down from RMB 25,556 thousand in the previous year, reflecting a decrease of approximately 35.5%[61]. - Net profit for the period was RMB 11,537 thousand, compared to RMB 17,622 thousand in 2021, marking a decline of around 34.6%[61]. - Total comprehensive income for the period was RMB 11,345 thousand, down from RMB 17,764 thousand, representing a decrease of approximately 36.1%[64]. - Basic and diluted earnings per share for the period were RMB 0.0181, down from RMB 0.0277 in the previous year, reflecting a decrease of approximately 34.5%[61]. Expenses and Costs - Research and development expenses amounted to approximately RMB 34,190,000, compared to RMB 29,523,000 in the previous year, impacting the gross profit margin[11][14]. - The increase in sales expenses to RMB 50,069,000 was primarily due to rising transportation, packaging, and labor costs, reflecting a 28.1% increase from the previous year[14]. - The cost of goods sold for the period was RMB 647,498 thousand, slightly up from RMB 627,964 thousand in the previous year, indicating a rise in operational costs[78]. Assets and Liabilities - As of June 30, 2022, total equity was approximately RMB 792,031,000, with current assets of about RMB 1,005,314,000[18]. - The company's total assets as of June 30, 2022, were RMB 1,005,314 thousand, a decrease from RMB 1,061,593 thousand at the end of 2021[66]. - Current liabilities decreased to RMB 831,860 thousand from RMB 998,194 thousand, indicating a reduction of about 16.7%[66]. - The company's net current assets improved to RMB 173,454 thousand, compared to RMB 63,399 thousand in the previous year, showing a significant increase[66]. - Accounts payable and accrued expenses totaled RMB 395,759 thousand, a decrease of 36.5% from RMB 623,411 thousand as of December 31, 2021[95]. - Contract liabilities decreased significantly to RMB 522 thousand from RMB 61,404 thousand year-over-year, indicating a substantial reduction in deferred revenue[95]. Cash Flow - For the six months ended June 30, 2022, the net cash flow from operating activities was RMB (81,316) thousand, a decrease from RMB 52,450 thousand in the same period of 2021[71]. - The net cash flow from investing activities was RMB (89,254) thousand, compared to RMB (58,399) thousand in the prior year, indicating increased investment outflows[71]. - The net cash flow from financing activities significantly increased to RMB 186,554 thousand from RMB 6,640 thousand year-over-year, reflecting a strong financing position[71]. - The total cash and cash equivalents at the end of the period rose to RMB 59,277 thousand, up from RMB 53,608 thousand at the end of 2021[71]. - The company reported a net increase in cash and cash equivalents of RMB 15,984 thousand for the period, compared to a minimal increase of RMB 691 thousand in the previous year[71]. Strategic Plans and Operations - The company plans to enhance automation and improve production processes to increase efficiency and maintain competitive advantages[11]. - The company is considering establishing factories closer to major clients to provide faster and more efficient services[11]. - The group plans to establish a wholly-owned subsidiary in Mexico to produce and sell automotive parts molds and components in the Americas market[32]. - The group intends to set up a wholly-owned subsidiary in Serbia to expand into the European market[32]. - The management aims to enhance product quality and expand the customer base by leveraging expertise in mold and plastic parts production[28]. Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[46]. - The board of directors approved the financial statements on August 31, 2022, ensuring compliance with regulatory requirements[98]. - The company has implemented a non-competition agreement with 株式會社友成機工 to clearly delineate business operations and avoid future competition[53]. Shareholder Information - The company reported a significant shareholder structure, with 株式會社友成機工 holding 36.65% of the shares, and Superview International Investment Limited holding 17.42%[40][41]. - As of June 30, 2022, the company did not purchase, sell, or redeem any of its listed shares[47]. - The company has not granted any rights to directors for purchasing shares as of June 30, 2022[44]. Risk Management - The group has not implemented any foreign currency hedging policies to mitigate exchange rate risks but is considering it for significant risks[24]. - The company has a financial risk management policy in place to ensure all payables are settled within the payment terms, which range from 30 to 120 days[97]. - The company continues to monitor its financial position closely to adapt to market conditions and maintain liquidity[99].

Financial Performance - For the year ended December 31, 2021, the total sales revenue was approximately RMB 1,462,235,000, an increase of 11.0% compared to RMB 1,317,660,000 for the year ended December 31, 2020[10]. - The net profit attributable to shareholders for the year ended December 31, 2021, was approximately RMB 51,518,000, a decrease of 1.8% from RMB 52,449,000 for the year ended December 31, 2020[20]. - Gross profit for the year ended December 31, 2021, was approximately RMB 166,180,000, an increase of 2.7% from RMB 161,784,000 in 2020[14]. - The gross profit margin decreased to approximately 11.4% for the year ended December 31, 2021, down from 12.3% in 2020[15]. - The group's revenue for the year ended December 31, 2021, was RMB 1,462,235,000, representing an increase of 10.9% compared to RMB 1,317,660,000 in 2020[43]. - The net profit for the year was RMB 51,883,000, a decrease of 1.7% from RMB 52,775,000 in 2020[43]. - The group reported a pre-tax profit of RMB 53,798,000, down from RMB 56,747,000 in the previous year[43]. - The company reported a total comprehensive income of RMB 53,953,000 for the year, compared to RMB 51,153,000 in 2020, indicating a growth of 5.5%[167]. Expenses and Costs - Research and development expenses for the year ended December 31, 2021, were approximately RMB 71,014,000, up from RMB 58,216,000 in 2020[9]. - Selling expenses increased by approximately 27.2% to about RMB 70,796,000 for the year ended December 31, 2021, compared to RMB 55,665,000 in 2020[16]. - Financial costs increased by approximately 29.5% to about RMB 17,657,000 for the year ended December 31, 2021, compared to RMB 13,638,000 in 2020, primarily due to increased bank borrowings[19]. - Employee compensation costs totaled approximately RMB 260,896,000, compared to RMB 212,538,000 in 2020, marking an increase of 22.7%[24]. - Distribution expenses increased to RMB 70,796,000 from RMB 55,665,000, reflecting a rise of 27.1%[165]. - Management expenses decreased slightly to RMB 55,412,000 from RMB 57,267,000, showing a reduction of 3.2%[165]. - The company reported a significant increase in depreciation and amortization expenses, rising to RMB 115,938,000 from RMB 98,876,000 in 2020[176]. Assets and Liabilities - As of December 31, 2021, total equity was approximately RMB 780,686,000, an increase from RMB 735,022,000 in 2020, representing a growth of 6.5%[21]. - Current assets amounted to RMB 1,061,593,000, up from RMB 925,309,000 in 2020, indicating a growth of 14.7%[21]. - The total liabilities were RMB 1,036,526,000, with current liabilities at RMB 998,194,000, which increased from RMB 861,675,000 in 2020, reflecting a rise of 15.9%[21]. - The group's total assets as of December 31, 2021, were RMB 1,817,212,000, compared to RMB 1,603,153,000 in 2020, reflecting a growth of 13.4%[43]. - Non-current assets increased to RMB 755,619,000 in 2021 from RMB 677,844,000 in 2020, representing an increase of approximately 11.5%[169]. - Current liabilities increased to RMB 998,194,000 in 2021, up from RMB 861,675,000 in 2020, which is an increase of approximately 15.9%[171]. - The company's total equity increased to RMB 780,686,000 in 2021 from RMB 735,022,000 in 2020, reflecting a growth of approximately 6.2%[171]. Strategic Initiatives - The company plans to establish production lines in Mexico and Serbia to serve the Americas and European markets, enhancing its competitive advantage[9]. - The company aims to strengthen its core technology advantages and improve production efficiency through increased automation and process enhancements[9]. - The company has established wholly-owned subsidiaries in Mexico and Serbia to produce and sell automotive parts molds, indicating a strategic expansion into the Americas and Europe[32]. - The company aims to enhance product quality and expand its customer base by leveraging its expertise in mold manufacturing and automation technologies[30]. - The company has invested significantly in automation equipment and is focused on improving production efficiency and reducing labor costs[30]. - The company is actively seeking new customers while maintaining its existing client base to mitigate risks associated with fluctuating growth rates and profit margins[34]. Corporate Governance - The company has a significant shareholder structure, with Masuda-san and Masuda Toshimitsu each holding 36.65% of the company's issued share capital, totaling 233,316,864 shares[63]. - The company has a public float of at least 25% of its total issued share capital as of the report date[72]. - The audit committee, consisting of three independent non-executive directors, has reviewed the audited consolidated financial statements for the year ending December 31, 2021[74]. - The company has adopted a code of conduct for securities trading by directors, which complies with the standards set out in the listing rules[73]. - The board of directors consists of two executive directors, two non-executive directors, and three independent non-executive directors, maintaining independence as per listing rules[85]. - The board held five meetings during the year to review business strategies and financial performance[85]. - The company is committed to high standards of corporate governance, aligning with the long-term interests of shareholders[83]. Risk Management - The company has implemented a risk management strategy to address financial risks, including foreign currency, interest rate, credit, and liquidity risks[36]. - The board is responsible for reviewing and maintaining adequate risk management and internal control systems to safeguard shareholder interests[117]. - The board believes that the existing risk management and internal control systems are robust and sufficient to protect the interests of shareholders and the group's assets[117]. - The group recognizes control over subsidiaries when it has the power to govern their financial and operating policies[190]. - The group reassesses control over an investee if any of the control factors change[190]. Audit and Compliance - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2021[132]. - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with disclosure requirements[132]. - The audit committee assists the board in overseeing the financial reporting process and the quality of financial disclosures[111]. - The company emphasizes transparency and timely disclosure of performance through interim and annual announcements[111]. - The company has established a framework for internal controls and financial reporting, which is monitored by the audit committee[74].

Financial Performance - Total sales revenue for the six months ended June 30, 2021, was approximately RMB 719,430,000, an increase of 33.1% compared to RMB 540,575,000 for the same period in 2020[8]. - Gross profit for the same period was approximately RMB 91,466,000, representing a 63.7% increase from RMB 55,876,000 in the prior year[9]. - Profit attributable to shareholders increased to approximately RMB 17,622,000, compared to RMB 532,000 in the same period last year[15]. - The company achieved a profit before tax of RMB 25,556,000, a significant increase from RMB 1,068,000 in the prior year, marking a growth of 2,295.5%[60]. - Net profit for the period was RMB 17,622,000, compared to RMB 379,000 in the previous year, reflecting a substantial increase[60]. - Basic and diluted earnings per share rose to RMB 0.0277 from RMB 0.0009, indicating a significant improvement in profitability[60]. - Total comprehensive income for the period was RMB 17,764,000, compared to RMB 973,000 in the same period last year, showing a growth of 1,724.5%[63]. Expenses and Costs - Research and development expenses amounted to approximately RMB 29,523,000, with a focus on mold development and automation improvements[5]. - Sales expenses increased by approximately 34.5% to RMB 39,099,000, primarily due to increased sales revenue[11]. - Management expenses rose by approximately 15.7% to RMB 30,346,000 compared to RMB 26,237,000 in the prior year[12]. - The cost of goods sold for the six months ended June 30, 2021, was RMB 627,964,000, up from RMB 460,646,000 in 2020, reflecting a rise of approximately 36.3%[78]. Assets and Liabilities - The company's equity as of June 30, 2021, was approximately RMB 752,786,000, with total current assets of approximately RMB 883,333,000[16]. - The company's total assets as of June 30, 2021, were RMB 758,706,000, an increase from RMB 741,478,000 at the end of 2020[65]. - Current liabilities decreased to RMB 811,101,000 from RMB 861,675,000, indicating improved liquidity management[65]. - The total liabilities, including accounts payable and accrued expenses, amounted to RMB 495,565,000 as of June 30, 2021, down from RMB 557,029,000 as of December 31, 2020, a reduction of about 11.0%[95]. Cash Flow - Net cash inflow from operating activities for the six months ended June 30, 2021, was RMB 52,450,000, compared to RMB 36,476,000 for the same period in 2020, representing an increase of approximately 43.8%[70]. - Net cash outflow from investing activities for the six months ended June 30, 2021, was RMB (58,399,000), compared to RMB (25,380,000) in 2020, indicating a significant increase in investment activities[70]. - Net cash inflow from financing activities for the six months ended June 30, 2021, was RMB 6,640,000, a recovery from a net outflow of RMB (36,896,000) in the previous year[70]. - The net increase in cash and cash equivalents for the six months ended June 30, 2021, was RMB 691,000, compared to a decrease of RMB (25,800,000) in 2020, showing improved liquidity[70]. Corporate Governance - The company has maintained compliance with corporate governance standards, ensuring effective risk management and adherence to listing rules[58]. - The company has established an audit committee composed of three independent non-executive directors, responsible for reviewing financial reports and internal control procedures[45]. - The company has adopted a code of conduct for directors' securities transactions and has not violated relevant standards[44]. Strategic Initiatives - The company continues to consider establishing factories closer to major clients to enhance service efficiency and maintain competitive advantages[5]. - The management aims to enhance product quality and expand the customer base by leveraging expertise in mold and plastic component production[26]. - The company is actively expanding its international business, including establishing a wholly-owned subsidiary in Mexico to produce and sell automotive parts molds[30]. - The company plans to establish a wholly-owned subsidiary in Serbia to further penetrate the European market[30]. - The company is investing heavily in high-quality production equipment to ensure precision in manufacturing automotive components[30]. Shareholder Information - The company’s major shareholders include Mr. Masuda and Mr. Masuda Toshimitsu, each holding 36.65% of the company’s shares[33]. - Superview International Investment Limited holds 17.42% of the company's shares, making it the second-largest shareholder[40]. - 丁宏廣 holds 9.44% of the company's shares, making him the third-largest shareholder[40]. - The company did not engage in any significant acquisitions or disposals of subsidiaries for the six months ended June 30, 2021[23]. - The board of directors proposed not to declare an interim dividend for the six months ended June 30, 2021[31].

YUSEI (於開曼群島註冊成立之有限公司) 友成控股有限公司 * YUSEI HOLDINGS LIMITED (股份代號：00096) . 2020 年 報 * 僅供識別 目 錄 | --- | --- | |--------------------------|--------| | | 頁次 | | 公司資料 | 2 | | 管理層討論及分析 | 3-8 | | 董事會報告書 | 9-17 | | 企業管治報告 | 18-24 | | 董事及高級管理人員之履歷 | 25-26 | | 獨立核數師報告書 | 27-33 | | 綜合損益表 | 34 | | 綜合損益及其他全面收益表 | 35 | | 綜合財務狀況報表 | 36-37 | | 綜合權益變動表 | 38 | | 綜合現金流量表 | 39-40 | | 綜合財務報表附註 | 41-102 | 公司資料 | --- | --- | |--------------------------|----------------------------------------| | 註冊辦事處 | 主要股份過戶登記處 | | Century Yard | ...

Financial Performance - For the six months ended June 30, 2020, the total sales revenue was approximately RMB 540,575,000, a decrease of 9.0% compared to RMB 593,763,000 for the same period in 2019[8]. - The gross profit for the same period was approximately RMB 55,876,000, down about 18.7% from RMB 68,704,000 in the previous year[9]. - The profit attributable to shareholders for the six months ended June 30, 2020, was approximately RMB 532,000, a significant decline from RMB 15,077,000 in the same period of 2019[15]. - The company's revenue for the first half of 2020 was RMB 540,575 thousand, a decrease of 8.95% compared to RMB 593,763 thousand in 2019[76]. - Gross profit for the first half of 2020 was RMB 55,876 thousand, down 18.66% from RMB 68,704 thousand in the same period last year[76]. - The net profit for the period was RMB 379 thousand, a significant decline of 97.52% compared to RMB 15,218 thousand in 2019[78]. - The total comprehensive income for the period was RMB 973 thousand, down from RMB 15,385 thousand in the previous year, reflecting a decrease of 93.66%[78]. - The pre-tax profit for the first half of 2020 was RMB 532,000, compared to RMB 15,077,000 in the same period of 2019, indicating a significant decline[101]. Expenses and Liabilities - The company's selling expenses decreased by approximately 8.3% to RMB 29,069,000 from RMB 31,702,000 in the previous year[12]. - The management expenses increased by approximately 3.2% to RMB 26,237,000 compared to RMB 25,908,000 in the previous year[13]. - Current liabilities decreased to RMB 408,448 thousand from RMB 487,938 thousand, a reduction of 16.26%[81]. - Total payables and accrued expenses were RMB 408,448,000 as of June 30, 2020, down from RMB 487,938,000 at the end of 2019, showing a reduction of approximately 16.3%[110]. Assets and Equity - As of June 30, 2020, the equity was approximately RMB 690,681,000, with current assets of approximately RMB 818,924,000[16]. - The company's total assets as of June 30, 2020, were RMB 818,924 thousand, compared to RMB 935,050 thousand at the end of 2019, indicating a decrease of 12.43%[81]. - Trade receivables as of June 30, 2020, were RMB 371,669,000, a decrease from RMB 435,748,000 as of December 31, 2019, representing a decline of about 14.7%[104]. Cash Flow - Cash inflow from operating activities was RMB 36,476 thousand, a substantial increase from RMB 3,222 thousand in the same period last year[87]. Shareholder Structure - The company has a significant shareholder structure, with Masuda Katsunori and Masuda Toshimitsu each holding 233,316,864 shares, representing 36.65% of the total equity[46]. - Xu Yong holds 90,086,400 shares, accounting for 14.15% of the company's equity[46]. - The company has a total of 110,880,000 shares held by Superview International Investment Limited, which represents 17.42% of the equity[53]. - The company has a total of 60,104,640 shares held by Ding Hongguang, representing 9.44% of the equity[53]. - Conpri holds a 25.8% interest in the issued share capital of the company through its ownership in Yucheng Machinery[53]. Corporate Governance - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with the standards set forth in the listing rules[57]. - The company has established an audit committee consisting of three independent non-executive directors to review financial reports and internal control procedures[58]. - The company has adopted and complied with the corporate governance code, ensuring adherence to relevant regulations[73]. - The company has not purchased directors and officers insurance, believing that the board understands the business risks adequately[73]. Operational Challenges - The company faced challenges due to COVID-19, leading to reduced product orders from some customers, impacting overall financial performance[7]. Future Plans - The company plans to utilize approximately HKD 30 million of unutilized net proceeds for the construction of a new factory in Changchun, China, instead of Tianjin, to meet operational needs[30]. Dividend Policy - The board has proposed not to declare an interim dividend for the six months ending June 30, 2020[43]. - The company did not declare any dividends for the period, maintaining a focus on reinvestment[76]. Compliance and Reporting - The company has disclosed sufficient information in accordance with applicable accounting standards and regulations[56]. - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant financial impact on the interim financial statements[90]. - The unaudited condensed consolidated income statement for the six months ended June 30, 2020, is available for review[75].

Financial Performance - The total revenue for the year ended December 31, 2019, was approximately RMB 1,301,618,000, an increase of 2.1% compared to RMB 1,274,993,000 for the year ended December 31, 2018[10]. - Gross profit for the year ended December 31, 2019, was approximately RMB 135,931,000, a decrease of about 25.9% from RMB 183,385,000 for the year ended December 31, 2018[11]. - Profit attributable to shareholders for the year ended December 31, 2019, was RMB 35,108,000, a decline of approximately 61.5% compared to RMB 91,303,000 for the year ended December 31, 2018[17]. - The total comprehensive income for the year was RMB 35,423 thousand, down 61.6% from RMB 92,023 thousand in 2018[170]. - Basic and diluted earnings per share for 2019 were 0.055 cents, compared to 0.153 cents in 2018, reflecting a decline of 64.0%[170]. Assets and Liabilities - The total assets of the group as of December 31, 2019, were RMB 1,497,511 thousand, compared to RMB 1,485,884 thousand in 2018, showing a slight increase of about 0.8%[45]. - The company's equity attributable to shareholders increased to RMB 689,483 thousand from RMB 662,884 thousand in 2018, reflecting a growth of 4.0%[174]. - The total liabilities decreased from RMB 441,260 thousand in 2018 to RMB 468,013 thousand in 2019, reflecting an increase of about 6.1%[176]. Cash Flow and Investments - The operating cash flow for 2019 was RMB 72,828 thousand, a decrease from RMB 119,351 thousand in 2018, reflecting a decline of about 39.0%[179]. - The company invested RMB 68,703 thousand in property, plant, and equipment in 2019, compared to RMB 115,350 thousand in 2018, which is a reduction of about 40.5%[181]. - The company’s net cash used in investing activities was RMB 59,222 thousand in 2019, compared to RMB 140,822 thousand in 2018, indicating a decrease of approximately 57.9%[181]. Employee and Compensation - The total employee count as of December 31, 2019, was approximately 2,200, down from 2,500 in 2018, with total employee compensation costs around RMB 202.85 million[27]. - The group employed approximately 2,200 employees with total employee compensation costs amounting to RMB 202,847,000 as of December 31, 2019[56]. Strategic Plans and Operations - The group continued to focus on mold research and development, enhancing automation and improving production processes to increase efficiency[9]. - The company plans to establish factories closer to major clients to provide faster and more efficient services[9]. - The management plans to enhance product quality and expand the customer base by leveraging expertise in the mold and plastic parts production industry[34]. - The group is focusing on maintaining its customer base while actively seeking new clients, emphasizing careful selection based on pricing and industry reputation[36]. Governance and Compliance - The board of directors includes executive directors and independent non-executive directors, with specific re-election proposals for certain members at the upcoming annual general meeting[59]. - The company emphasizes compliance with relevant laws and regulations, ensuring adherence in all significant aspects of its operations[55]. - The audit committee consists of three independent non-executive directors, responsible for reviewing financial reports and internal controls[75]. Environmental and Social Responsibility - The group is committed to environmental protection and sustainable development, focusing on energy conservation and emission reduction[54]. - The company has established strong relationships with employees, customers, and business partners, emphasizing a people-centric approach[53]. Audit and Financial Reporting - The company confirmed that its financial statements for the fiscal year ended December 31, 2019, were prepared in accordance with applicable accounting standards and provided a fair representation of the group's financial position[111]. - The audit aimed to obtain reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error[159]. - The audit report includes communication with the audit committee regarding planned audit scope, timing, and significant audit findings[162]. Shareholder Engagement - The company has established an investor relations department to facilitate regular two-way communication with shareholders and potential investors[130]. - Shareholders can request a special general meeting if they hold at least 10% of the voting shares[129]. - The company ensures that all voting at the annual general meeting is conducted by poll, with results published on the company's and stock exchange's websites[128].

Financial Performance - Total sales revenue for the six months ended June 30, 2019, was approximately RMB 593,763,000, a decrease of 7.3% compared to RMB 640,346,000 for the same period in 2018[10]. - Gross profit for the same period was approximately RMB 68,704,000, down about 29.0% from RMB 96,763,000 in 2018, primarily due to rising production material costs and increased research and development expenses[11]. - Profit attributable to shareholders decreased to approximately RMB 15,077,000 from RMB 39,599,000 in the previous year[16]. - The company's profit before tax was RMB 19,603,000, a decline of 59.3% from RMB 48,186,000 in the previous year[77]. - Net profit for the period was RMB 15,218,000, representing a decrease of 61.6% compared to RMB 39,599,000 in 2018[77]. - Basic and diluted earnings per share were RMB 0.024, down from RMB 0.068 in the same period last year[77]. - Total comprehensive income for the period was RMB 15,385,000, compared to RMB 39,552,000 in 2018, reflecting a significant decline[80]. Expenses and Costs - Financial expenses increased by approximately 21.8% to RMB 9,086,000 compared to RMB 7,460,000 in the same period of 2018[15]. - Sales expenses rose by approximately 0.5% to RMB 31,702,000, mainly due to increased costs of packaging materials[12]. - Management expenses decreased by about 3.0% to RMB 25,908,000, attributed to enhanced cost control measures[13]. - The cost of goods sold for the six months ended June 30, 2019, was RMB 525,059 thousand, a decrease from RMB 543,583 thousand in 2018, representing a reduction of approximately 3.4%[102]. Assets and Liabilities - The company's equity as of June 30, 2019, was approximately RMB 677,931,000, with current assets of about RMB 762,497,000[17]. - As of June 30, 2019, total assets amounted to RMB 762,497 thousand, a decrease of 16.7% from RMB 915,616 thousand as of December 31, 2018[82]. - Current liabilities decreased to RMB 296,615 thousand as of June 30, 2019, from RMB 478,804 thousand at the end of 2018, a reduction of 38.0%[82]. - Total liabilities decreased to RMB 257,950 thousand as of June 30, 2019, from RMB 618,680 thousand at the end of 2018, a decrease of 58.3%[82]. - The company's equity attributable to shareholders increased to RMB 680,485 thousand as of June 30, 2019, compared to RMB 665,297 thousand at the end of 2018, an increase of 2.0%[82]. - The company’s net current assets improved to RMB 143,817 thousand as of June 30, 2019, compared to RMB 106,034 thousand at the end of 2018, an increase of 35.6%[82]. Cash Flow - Net cash inflow from operating activities for the six months ended June 30, 2019, was RMB 3,222 thousand, down 90.9% from RMB 35,584 thousand in the same period of 2018[87]. - The company reported a net increase in cash and cash equivalents of RMB 3,439 thousand for the six months ended June 30, 2019, compared to a decrease of RMB 1,516 thousand in the prior year[87]. - The company’s cash and cash equivalents at the end of the period were RMB 109,055 thousand, up from RMB 54,503 thousand at the end of 2018, an increase of 100.0%[87]. Shareholder Information - The company has a 36.63% equity interest held by Yucheng Co., Ltd., which is primarily engaged in the design, manufacturing, and sales of injection molds[65]. - Masuda holds a 49.8% interest in Yucheng Co., Ltd., which in turn owns 36.63% of the company's issued share capital[53]. - Conpri holds a 25.8% interest in Yucheng Co., Ltd., and is considered to hold 194,304,000 shares of the company[59]. - Superview International Investment Limited owns 92,400,000 shares, representing a 17.42% equity interest in the company[56]. - The company’s major shareholders include Yucheng Co., Ltd. and Conpri, with significant stakes in the company[56]. - The company’s equity interests are distributed among various stakeholders, including Masuda and his family members[65]. Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors to review financial reports and internal controls[62]. - The company has adopted a code of conduct for directors' securities transactions, ensuring compliance with the relevant standards[61]. - The company reported no rights granted to directors for acquiring shares or bonds as of June 30, 2019[60]. - The board believes that the management's focus on risk control and compliance with listing rules is sufficient, negating the need for directors' and officers' insurance[75]. Future Plans and Investments - The company plans to establish factories closer to major clients to provide faster and more efficient services[8]. - The company plans to establish a wholly-owned subsidiary in Mexico to produce and sell automotive parts molds and components in the Americas market[48]. - The company utilized approximately HKD 10.2 million from the first subscription proceeds for the construction of a new factory and the purchase of processing centers and injection molding machines[21]. - The company plans to fully utilize the remaining proceeds from the first subscription by June 30, 2020, for the construction of the factory and purchase of machinery[21]. Operational Focus - The company continued to focus on mold research and development, enhancing automation and improving production processes to increase efficiency[8]. - The company has invested significantly in automation equipment since 2017 to enhance production efficiency and reduce labor costs[45]. - The company has strengthened communication with European, American, and Japanese clients to understand industry developments and customer requirements[46]. - The company emphasizes strict product quality requirements, particularly for automotive components, to ensure effective operation of related equipment[45]. Compliance and Accounting - The company adopted HKFRS 16 "Leases" on January 1, 2019, applying a modified retrospective approach without restating prior year comparatives[95]. - The company classified leases as operating leases based on the assessment of whether the majority of risks and rewards of ownership were transferred[98]. - As of January 1, 2019, lease liabilities were recognized at the present value of remaining lease payments, discounted using the incremental borrowing rate[99]. - The effective tax rate for the company's subsidiaries in China is 25%, with certain subsidiaries benefiting from a reduced rate of 15% due to high-tech enterprise status[105]. - The company has not made any provisions for Hong Kong profits tax as there were no assessable profits during the two years[104].

Financial Performance - Total sales revenue for the year ended December 31, 2018, was approximately RMB 1,274,993,000, an increase of 2.2% compared to RMB 1,247,392,000 for the year ended December 31, 2017[11]. - Gross profit for the year ended December 31, 2018, was approximately RMB 183,385,000, a decrease of about 9.2% from RMB 201,942,000 for the previous year, primarily due to rising production material costs and increased R&D expenses[12]. - Selling expenses increased by approximately 11.7% to RMB 52,217,000 for the year ended December 31, 2018, compared to RMB 46,747,000 for the previous year, driven by higher sales revenue and increased packaging material costs[13]. - Management expenses decreased by approximately 21.9% to RMB 49,435,000 for the year ended December 31, 2018, down from RMB 63,278,000, due to enhanced operational efficiency[15]. - Profit attributable to shareholders increased by approximately 9.5% to RMB 91,421,000 for the year ended December 31, 2018, compared to RMB 83,495,000 for the previous year[15]. - The net profit for the year was RMB 91,421,000, up 9.3% from RMB 83,495,000 in 2017[29]. - The total comprehensive income for the year was RMB 92,023,000, compared to RMB 83,817,000 in 2017, reflecting a growth of 9.4%[149]. Assets and Liabilities - As of December 31, 2018, total equity was approximately RMB 665,297,000, with current assets totaling approximately RMB 915,616,000[15]. - Total assets increased to RMB 1,485,884,000 from RMB 1,236,305,000, reflecting a growth of 20.2%[29]. - The total liabilities increased to RMB 820,587,000 from RMB 726,323,000, marking a rise of 12.9%[29]. - The company's non-current assets increased to RMB 570,268 thousand in 2018 from RMB 512,132 thousand in 2017[151]. - The company's current liabilities increased to RMB 809,582 thousand in 2018 from RMB 698,623 thousand in 2017[151]. - The company's net current assets improved to RMB 106,034 thousand in 2018, compared to RMB 25,550 thousand in 2017[151]. Shareholder Information - The company’s net asset value per share was approximately RMB 1.35, with a leverage ratio of 20.9% as of December 31, 2018[15]. - The board proposed a bonus share issue, with one bonus share for every five shares held, which was approved at the annual general meeting[15]. - The board proposed a final dividend of RMB 0.016 per share, subject to approval at the upcoming annual general meeting[27]. - The top five customers accounted for 45% of total sales, with the largest customer contributing 17%[42]. Employee and Operational Efficiency - As of December 31, 2018, the company employed approximately 2,500 staff, down from about 2,980 in 2017, with total employee compensation amounting to approximately RMB 227,340,000[16]. - The company is committed to investing in automation equipment and building automated factories to improve production efficiency and reduce labor costs[19]. - Management aims to enhance product quality and expand the customer base by leveraging expertise in the mold and plastic parts production industry[19]. Strategic Plans and Investments - The company plans to establish factories closer to major clients to provide faster and more efficient services[10]. - Future investments will focus on land acquisition and factory construction to meet customer demands in the automotive industry over the next three to five years[22]. - The company plans to allocate HKD 19,000,000 from the subscription proceeds for the development of a new factory in Hubei, China, and the remaining HKD 1,891,630 for general working capital[16]. Governance and Compliance - The company has established an audit committee to oversee financial reporting and internal controls, ensuring compliance with applicable accounting standards[58]. - The company has adopted a code of conduct for securities trading by directors, adhering to the standards set forth in the listing rules[57]. - The company’s board of directors includes independent non-executive members, enhancing governance and oversight[58]. - The company encourages continuous professional development for all directors, providing updates on the group's performance and regulatory developments[82]. Risk Management - The company faces exchange rate risks due to transactions in RMB, USD, and JPY, with no current foreign currency hedging policy in place[18]. - The company emphasizes the importance of risk management and internal control systems to protect shareholder interests and assets[99]. Accounting Standards and Financial Reporting - The company adopted HKFRS 9, which changed the accounting treatment for financial asset impairment from an incurred loss model to an expected credit loss model[180]. - The company anticipates that the adoption of new accounting standards will not have a significant impact on its consolidated financial statements in the foreseeable future[185]. - The consolidated financial statements are prepared based on historical cost, reflecting the fair value of the consideration paid for goods and services received[192].