Financial Performance - Total revenue for 2024 reached RMB 548.0 million, an increase of 12.3% compared to 2023[3] - Gross profit for 2024 was RMB 81.5 million, up RMB 3.6 million or 4.7% from 2023[3] - The loss attributable to owners of the company for 2024 was RMB 153.4 million, an improvement from a loss of RMB 222.1 million in 2023[3] - Basic and diluted loss per share for 2024 was RMB 20.6 cents[3] - The company reported a total comprehensive loss of RMB 150.4 million for 2024, compared to RMB 220.0 million in 2023[6] - The company reported a net loss of RMB 153,367,000 for the year ending December 31, 2024[13] - The company’s total comprehensive loss before tax for 2024 was RMB (163,788) thousand, compared to a loss of RMB (195,256) thousand in 2023, indicating a reduction in losses[30] - The company reported a net loss of RMB 153.367 million for the year ended December 31, 2024, compared to a net loss of RMB 222.148 million in 2023, indicating an improvement in financial performance[42] Revenue Breakdown - MLCC sales contributed RMB 497,715 thousand in 2024, up 12.8% from RMB 441,495 thousand in 2023[32] - The investment and financial services segment generated RMB 50,284 thousand in revenue for 2024, compared to RMB 46,521 thousand in 2023, reflecting a 5.9% increase[32] - Total revenue from the MLCC segment reached RMB 497.7 million in 2024, representing a 13% increase compared to 2023, driven by a 5% increase in sales volume and a 7% increase in average product price[55] - Revenue from the MLCC segment was RMB 497.7 million, up RMB 56.2 million or 12.7% year-over-year, attributed to market conditions[68] Profitability Metrics - The gross profit margin decreased by 1.1 percentage points to 14.9% in 2024, with the MLCC business margin dropping from 7.1% in 2023 to 6.3% in 2024[3] - Other income decreased slightly to RMB 16,474 thousand in 2024 from RMB 17,975 thousand in 2023[36] - Financing costs increased to RMB 56,539 thousand in 2024, compared to RMB 34,224 thousand in 2023, marking a significant rise of 65.3%[38] - The company’s asset management fee income decreased to RMB 40,742 thousand in 2024 from RMB 49,708 thousand in 2023, a decline of 18.5%[32] - Research and development costs amounted to RMB 62.4 million, a decrease of RMB 2.9 million compared to the previous year, due to better cost control[71] Financial Position - Non-current assets totaled RMB 1,458.0 million as of December 31, 2024, compared to RMB 1,008.3 million in 2023[7] - Current liabilities increased to RMB 1,359.2 million in 2024 from RMB 963.6 million in 2023[8] - Total equity decreased to RMB 517.6 million in 2024 from RMB 668.0 million in 2023[8] - The company's current liabilities exceeded its current assets by RMB 603.423 million as of December 31, 2024, raising significant doubts about its ability to continue as a going concern[53] - The company's trade payables increased to RMB 148.137 million in 2024, compared to RMB 116.045 million in 2023, indicating a rise in obligations to suppliers[48] - The group had total bank credit facilities of RMB 828.0 million as of December 31, 2024, with RMB 780.4 million utilized[89] - The debt-to-assets ratio increased to approximately 75.9% as of December 31, 2024, from 65.7% on December 31, 2023, due to an increase in bank and other loans[90] Cash Flow and Liquidity - Cash and cash equivalents stood at RMB 63,702,000 as of December 31, 2024[13] - The company has initiated plans to improve liquidity and financial conditions, including cash flow forecasts covering at least 12 months from December 31, 2024[16] - A supplementary loan agreement was established in September 2024 to revise the repayment plan, allowing the company to avoid immediate repayment of loans totaling RMB 441,517,000[14] - The company is actively negotiating with banks regarding loan terms and financial covenants to ensure compliance and avoid defaults[17] - The company plans to restructure its cash borrowings and has a good historical repayment record with banks[16] Strategic Initiatives - The company has taken measures to accelerate the collection of receivables and effectively control costs and expenditures[17] - The company plans to enhance its core competitiveness through the development of new materials and processes, while expanding its product lines to include larger size MLCCs with high reliability for industrial and automotive applications[66] - The company aims to explore new markets and expand its international strategy to increase market share through continuous innovation and quality improvement[66] - The company has made significant breakthroughs in R&D and delivery of automotive-grade products during the reporting period[56] - The company will strengthen the monitoring and management of existing fund projects and implement strategies to improve investment performance in 2024[67] Production and Capacity - The new production base in Chuzhou has commenced mass production, while the Dongguan base is set to start production in Q2 2024, significantly enhancing production capacity and technical capabilities[56] - The company has optimized its sales structure and increased production, leading to a significant reduction in sales and research expenses compared to 2023[55] - The company’s inventory levels in the MLCC industry have normalized after a prolonged destocking period, with downstream demand beginning to recover gradually[55] Employee and Operational Metrics - The total number of employees as of December 31, 2024, was 1,257, a slight decrease from 1,285 in 2023[94] - Capital expenditures for the year ended December 31, 2024, were approximately RMB 194.0 million, down from RMB 330.2 million in 2023[88] Dividend Policy - The company did not recommend the payment of a final dividend for the year ended December 31, 2024[3] - The company did not declare or propose any dividends for the years ended December 31, 2024, and 2023[41] - The group reported no final dividend for the year ended December 31, 2024, consistent with 2023[93]

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。 TIANLI HOLDINGS GROUP LIMITED 天 利 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：117） 董事會會議召開日期 天利控股集團有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司將於2025年3 月28日（星期五）舉行董事會會議，藉以（其中包括）考慮並批准本公司及其附屬公司 截至2024年12月31日止年度之全年業績及其發佈，以及考慮派付末期股息（如有）。 承董事會命 天利控股集團有限公司 於本公告日期，董事會包括兩名執行董事，即周春華先生（主席）及潘彤先生（行政總 裁）；以及三名獨立非執行董事，即朱健宏先生、徐學川先生及焦捷女士。 主席 周春華 香港，2025年3月11日 ...

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。 TIANLI HOLDINGS GROUP LIMITED 天 利 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：117） 天利控股集團有限公司 主席 周春華 補充公告 有關收購機器之須予披露交易 茲提述天利控股集團有限公司（「本公司」）日期為二零二五年二月二十五日內容有關 收購機器之公告（「該公告」）。除文義另有所指外，本公告所用之詞彙與該公告所界 定者具有相同涵義。 本公告乃就東榮之最終實益擁有人之身份及背景提供補充資料而作出。 就董事經作出一切合理查詢後所深知、盡悉及確信，基於本公司可獲得之資料，東 榮由香港居民兼電子行業商人麥賴明妃女士最終擁有100%權益。 誠如該公告所披露，就董事經作出一切合理查詢後所深知、盡悉及確信，東榮及其 最終實益擁有人均為獨立第三方。 1 本公告為該公告之補充，並應與該公告一併閱覽。上述額外資料並不會影響該公告 所載的其他資料及內容。除 ...

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。 TIANLI HOLDINGS GROUP LIMITED 天 利 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：117） 有關收購機器之須予披露交易 收購事項 董事會宣佈，於二零二五年二月二十五日，東宇陽（作為買方，本公司之間接全資 附屬公司）與東榮（作為賣方）訂立購買合約，據此，東宇陽同意向東榮收購機器， 代價為175,000,000日圓（相當於約9,100,000港元）。 上市規則之涵義 由於有關收購事項之一項或多項適用百分比率（定義見上市規則）超過5%但低於 25%，收購事項構成本公司之須予披露交易，並須遵守上市規則第14章項下之通 知及公告規定。 1 收購事項 董事會宣佈，於二零二五年二月二十五日，東宇陽（作為買方，本公司之間接全資附 屬公司）與東榮（作為賣方）訂立購買合約，據此，東宇陽同意向東榮收購機器，代價 為175,000,000日圓（相當於約9,100, ...

TIANLI HOLDINGS GROUP LIMITED 天 利 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：117） | | 董事委員會 | | | | | --- | --- | --- | --- | --- | | 董事 | | 審核委員會 | 薪酬委員會 | 提名委員會 | | 周春華先生 | | | M | M | | 朱健宏先生 | | C | M | C | | 徐學川先生 | | M | C | M | | 焦捷女士 | | M | | | 附註： C： 有關董事委員會的主席 周春華先生 （主席） 潘彤先生 （行政總裁） 獨立非執行董事 朱健宏先生 徐學川先生 焦捷女士 董事會已設立三個董事委員會，並制定有關職權範圍。下表提供各董事會成員於各 董事委員會所擔任的職務資料（自二零二五年一月三十一日起生效）。 董事名單與其角色和職能 天利控股集團有限公司董事會（「董事會」）成員載列如下（自二零二五年一月三十一 日起生效）： 執行董事 M： 有關董事委員會的成員 香港，二零二五年一月二十八日 ...

獨立非執行董事辭任及 審核委員會成員變動 獨立非執行董事辭任 天利控股集團有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，蔡大維先生 （「蔡先生」）已提呈辭任獨立非執行董事，自二零二五年一月三十一日起生效，以投 入更多時間於其他個人事務及事業。因此，蔡先生於同日將不再擔任董事會轄下審 核委員會成員。 蔡先生已確認，彼與董事會並無意見分歧，亦無有關彼辭任之事宜須敦請本公司股 東及香港聯合交易所有限公司垂注。 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。 TIANLI HOLDINGS GROUP LIMITED 天 利 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：117） 董事會謹藉此機會對蔡先生於擔任獨立非執行董事期間對本公司作出的寶貴貢獻 致以衷心感謝。 主席 周春華 香港，二零二五年一月二十八日 於本公告日期，董事會包括兩名執行董事，即周春華先生（主席）及潘彤先生（行政總裁）； 以及三名獨立非執 ...

TIANLI HOLDINGS GROUP LIMITED 天 利 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：117） 董事名單與其角色和職能 天利控股集團有限公司董事會（「董事會」）成員載列如下： 執行董事 周春華先生 （主席） 潘彤先生 （行政總裁） 朱健宏先生 蔡大維先生 徐學川先生 焦捷女士 董事會已設立三個董事委員會，並制定有關職權範圍。下表提供各董事會成員於各 董事委員會所擔任的職務資料。 | | 董事委員會 | | | | | --- | --- | --- | --- | --- | | 董事 | | 審核委員會 | 薪酬委員會 | 提名委員會 | | 周春華先生 | | | M | M | | 朱健宏先生 | | C | M | C | | 蔡大維先生 | | M | | | | 徐學川先生 | | M | C | M | 附註： C： 有關董事委員會的主席 M： 有關董事委員會的成員 香港，二零二四年十二月十日 獨立非執行董事 ...

天 利 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：117） 委任獨立非執行董事 及 更換授權代表 委任獨立非執行董事 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。 TIANLI HOLDINGS GROUP LIMITED 2 據董事會作出一切合理查詢後所深知及確信，截至本公告日期，除上文所披露者 外，(1)焦女士於本公告日期前過去三年並無在其證券於香港或海外任何證券市場上 市的其他上市公司擔任任何董事職務；(2)焦女士並無於本公司股份中擁有香港法例 第571章證券及期貨條例第XV部所界定的任何權益；及(3)概無有關焦女士的資料須 根據上市規則第13.51(2)(h)至13.51(2)(v)條予以披露。 董事會謹藉此機會熱烈歡迎焦女士加入董事會。 天利控股集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈，焦捷女士 （「焦女士」）已獲委任為獨立非執行董事，自二零二四年十二月十日起生效。焦女士 之履 ...

MLCC Segment Performance - MLCC segment achieved sales revenue of RMB205.6 million in the first half of 2024, representing a 5.84% increase compared to the same period in 2023[14] - The average price of MLCC products rose by approximately 10% year-over-year, driven by an increase in the proportion of high-frequency, high-capacitance industrial-grade products[14] - Revenue from the MLCC segment increased by RMB11.3 million or 5.8% to RMB205.6 million, driven by higher average product prices[33][37] - MLCC segment revenue for the six months ended 30 June 2024 was RMB 205.6 million, with a segment loss of RMB 54.1 million[134] - MLCC segment revenue for the six months ended 30 June 2023 was RMB 194.25 million, with a segment loss of RMB 69.12 million[135] - Revenue from MLCC sales rose to RMB 205,602 thousand in 2024, up 5.8% from RMB 194,252 thousand in 2023[143] - MLCC segment assets increased to RMB 1,430,026 thousand as of June 30, 2024, compared to RMB 1,360,081 thousand at the end of 2023, reflecting a growth of 5.1%[138][139] Production Capacity and Expansion - The Group's new production base in Chuzhou has been put into operation, while the Dongguan base completed relocation and expansion, gradually increasing production capacity[20] - The company's new production bases in Chuzhou and Dongguan are operational, with capacity gradually increasing to meet the growing demand in industrial and automotive markets[21] - The net book value of the Group's property, plant, and equipment increased to RMB959.7 million as of 30 June 2024, up by RMB46.2 million from 31 December 2023, primarily due to additions for MLCC production equipment[51] - Capital commitments decreased to RMB150.5 million as of 30 June 2024 from RMB261.9 million at the end of 2023, mainly due to the completion of new factory construction in the MLCC segment[53] - Capital commitments outstanding at the end of the reporting period totaled RMB 156,512 thousand, a decrease from RMB 259,524 thousand at the end of 2023[192] R&D and Product Development - The Group continues to invest in R&D, focusing on ultra-micro, high capacitance, high temperature, and high reliability products to enhance competitiveness in the high-end market[19] - The company increased R&D investment and technical cooperation, focusing on ultra-micro, high-capacity, high-temperature, and high-reliability product layouts to enhance competitiveness in the high-end market[21] - The company expanded its product portfolio to include consumer-grade, automotive-grade, and industrial-grade products, with a shift from small-size to large-size, high-capacity, and high-voltage specifications[21] - Research and development costs decreased by RMB3.7 million to RMB27.8 million, reflecting better cost control in new product and technology development[43][48] - Research and development costs for the current period amounted to RMB 27,758 thousand in 2024, down 11.7% from RMB 31,438 thousand in 2023[148] - Staff costs included in research and development increased to RMB 16,369 thousand in 2024, up 43.6% from RMB 11,399 thousand in 2023[149] - R&D costs include depreciation of RMB 1,402,000 (H1 2023: RMB 1,815,000) and employee costs of RMB 16,369,000 (H1 2023: RMB 11,399,000)[150] Financial Performance and Ratios - Total revenue for the six months ended 30 June 2024 was RMB219.4 million, an increase of RMB6.79 million or 3.2% compared to the same period in 2023[33][37] - The Group's gross profit margin improved to 12.4%, up 4.2 percentage points from the previous year, with the MLCC segment's gross profit margin reaching 6.47% compared to a gross loss margin of 0.5% in 2023[34][38] - Revenue for the six months ended 30 June 2024 increased to RMB 219,404 thousand, up 3.2% from RMB 212,614 thousand in the same period last year[107] - Gross profit for the six months ended 30 June 2024 was RMB 27,099 thousand, a significant increase from RMB 17,454 thousand in the same period last year[107] - Loss from operations for the six months ended 30 June 2024 improved to RMB 41,102 thousand, compared to RMB 60,219 thousand in the same period last year[107] - Loss for the period decreased to RMB 59,169 thousand, down from RMB 69,744 thousand in the same period last year[107] - Total comprehensive loss for the period was RMB 58,817 thousand, an improvement from RMB 64,229 thousand in the same period last year[107] - Loss per share attributable to owners of the Company improved to RMB 7.94 cents, compared to RMB 9.36 cents in the same period last year[109] - Total reportable segment loss from external customers improved to RMB 44,649 thousand in 2024 from RMB 58,955 thousand in 2023, a reduction of 24.3%[141] Investment and Financial Services - The company manages 11 funds with a total capital commitment of approximately $647.8 million, of which the company has committed $89.9 million and invested $77.5 million[27] - The six funds invested by the company resulted in a net loss of RMB 7.2 million for the six months ended 30 June 2024, despite generating asset management fee income of RMB 21 million[27] - The company's investments are spread across five countries or regions: Australia, Hong Kong, PRC, UK, and the US, in the form of debt, common equity, or preferred equity[31] - The company made no new investments during the six months ended 30 June 2024[32] - Investment and financial services segment revenue for the six months ended 30 June 2024 was RMB 20.95 million, with a segment profit of RMB 9.43 million[134] - Investment and financial services segment revenue for the six months ended 30 June 2023 was RMB 20.28 million, with a segment profit of RMB 10.17 million[135] - Asset management fee income increased slightly to RMB 20,953 thousand in 2024 from RMB 20,281 thousand in 2023, a growth of 3.3%[143] Market Trends and Future Outlook - The MLCC industry's inventory levels have returned to normal, with downstream orders gradually increasing month by month, indicating a recovery in the end-market for the second half of 2024[14] - The MLCC market is expected to grow due to demand from IoT, 5G, new energy vehicles, and AI servers, with the Group focusing on expanding in automotive electronics and communication base stations[66] - MLCC market is expected to grow in the long term due to demand from IoT, 5G communications, new energy vehicles, and AI servers, despite challenges in 2024[67] - The company plans to expand its market share in automotive electronics, communication base stations, and data centers, while continuing to invest in R&D, equipment, and automation[67] - The company has increased its product lines to include larger-sized MLCCs with high capacity, high Q, high temperature, and high voltage characteristics, meeting industrial and automotive-grade reliability requirements[67] Financial Position and Liabilities - The Group's financial assets at fair value through profit or loss (FVPL) decreased by 1% to RMB407.9 million as of 30 June 2024, mainly due to a fair value loss of RMB7.2 million and exchange rate depreciation effects[51] - Accounts and bills receivables decreased by RMB38.7 million to RMB308.5 million as of 30 June 2024, driven by accelerated collection efforts in the first half of 2024[51] - Cash and bank balances increased by RMB19.3 million to RMB66.2 million as of 30 June 2024, primarily due to additional drawdowns of bank and other loans[51] - Trade and bills payables increased by RMB14.4 million to RMB130.4 million as of 30 June 2024, mainly due to higher MLCC production during the period[53] - Bank and other loans increased by RMB100.1 million to RMB815.9 million as of 30 June 2024, driven by additional drawdowns[53] - The Group's net current liabilities increased to RMB205.3 million as of 30 June 2024, compared to net current assets of RMB41.8 million as of 31 December 2023[54] - Current assets decreased to RMB844.9 million as of 30 June 2024 from RMB1,005.4 million as of 31 December 2023[54] - Current liabilities increased to RMB1,050.2 million as of 30 June 2024 from RMB963.6 million as of 31 December 2023[54] - The Group's current ratio decreased to 0.8 as of 30 June 2024 from 1.0 as of 31 December 2023[54] - The Group's gearing ratio increased to 69.5% as of 30 June 2024 from 65.5% as of 31 December 2023[56] - The Group's banking facilities increased to RMB868.0 million as of 30 June 2024 from RMB788.0 million as of 31 December 2023[54] - Utilized banking facilities increased to RMB760.4 million as of 30 June 2024 from RMB643.6 million as of 31 December 2023[54] - The Group's revenue is mainly denominated in Renminbi, US dollars, and HK$, while purchases are mainly in Renminbi, US dollars, HK$, and Japanese Yen[58] - The Group has pledged assets with carrying amounts of approximately RMB652.7 million as securities for bank and other loans facilities as of 30 June 2024[59] - The Group's cash flow projections cover a period of not less than 12 months from 30 June 2024, with confidence in sufficient working capital[125] - The Group is exploring debt or equity financing arrangements to improve financial ratios[125] - The Group is implementing measures to speed up the collection of outstanding accounts and bills receivables[125] - The Group did not meet certain financial covenants for bank loans as of 30 June 2024, leading to renegotiations with lenders[124] - The Group's current liabilities include bank and other loans totaling RMB 815,948,000, with RMB 170,101,000 repayable within 12 months, RMB 425,500,000 repayable on demand but expected after 12 months, and RMB 220,347,000 reclassified as current liabilities due to loan agreement provisions[124] - The Group breached certain terms of bank loans with a carrying amount of RMB 509,517,000 at 30 June 2024, primarily related to the asset-liability ratio and current ratio of a subsidiary and the net assets level of another subsidiary[186] - The Group is in negotiations with lenders to extend the repayment period for RMB 401,500,000 of loans, which were originally due within one year, for at least the next 12 months[188] - The directors believe that adequate alternative sources of finance are available to ensure the continuing operations of the Group, even if lenders demand immediate repayment[189] Corporate Governance and Shareholding - The Board is committed to maintaining high corporate governance standards and has complied with the Corporate Governance Code throughout the six months ended 30 June 2024[74][78] - Mr. Zhou Chunhua holds 7,358,000 shares, representing approximately 0.99% of the total issued shares as of 30 June 2024[82] - Cosmic Riches Investments Limited holds 93,443,650 shares, representing 12.55% of the total issued shares[85] - China Tian Yuan Manganese Limited holds 60,590,482 shares, representing 8.13% of the total issued shares[85] - The total issued shares of the company as of 30 June 2024 are 744,750,000[86] - Ms. Du Weilin is deemed to have an interest in 93,443,650 shares held by Cosmic Riches Investments Limited[88] - Ningxia Tianyuan Manganese Industry Group Co., Ltd. and Mr. Jia Tianjiang are deemed to have an interest in 60,590,482 shares held by China Tian Yuan Manganese Limited[88] - Ms. Dong Jufeng is deemed to have an interest in 60,590,482 shares held by China Tian Yuan Manganese Limited due to her being the spouse of Mr. Jia Tianjiang[88] - The Share Award Scheme, adopted on 14 July 2017, is valid for 10 years and the total number of shares to be awarded shall not exceed 10% of the issued share capital as of the Adoption Date[90] - No shares were purchased or granted under the Share Award Scheme during the period ended 30 June 2024[92] - Mr. Zhou Chunhua, a Director of the Company, participated in the Share Award Scheme during the six months ended 30 June 2024[95] - The fair value of the awarded shares is based on the fair value at the date of grant[94] Expenses and Costs - Selling and distribution costs rose by 9.7% to RMB10.2 million, attributed to increased sales efforts in the MLCC segment[41][46] - Administrative expenses decreased by RMB2.0 million to RMB43.7 million, mainly due to reduced staff costs[42][47] - Finance costs increased by RMB7.7 million to RMB15.8 million, driven by additional bank loan interest in the first half of 2024[44][49] - Administrative expenses decreased to RMB 43,691 thousand, compared to RMB 45,724 thousand in the same period last year[107] - Finance costs increased to RMB 15,832 thousand, up from RMB 8,124 thousand in the same period last year[107] - Other income increased to RMB 12,152 thousand, compared to RMB 5,445 thousand in the same period last year[107] - Total interest expense on financial liabilities not at FVPL decreased to RMB 15,832 thousand in 2024 from RMB 21,335 thousand in 2023, a reduction of 25.8%[145] - Key management personnel remuneration for the six months ended 30 June 2024 was RMB 4,541 thousand, down from RMB 5,955 thousand in the same period of 2023[196] Assets and Liabilities - The Group's investment property remained stable at RMB23.7 million as of 30 June 2024, comparable to RMB24.1 million at the end of 2023[51] - Prepayments, deposits, and other receivables increased by RMB3.9 million to RMB48.9 million as of 30 June 2024, primarily due to deposits for property, plant, and equipment acquisitions[51] - Deferred income, accruals, and other payables decreased by RMB27.0 million to RMB82.3 million as of 30 June 2024, mainly due to the settlement of payables for production equipment acquired in 2023[53] - Total non-current assets increased to RMB 1,243,653,000 as of 30 June 2024, up from RMB 1,008,347,000 at the end of 2023[110] - Current assets decreased to RMB 844,844,000 as of 30 June 2024, down from RMB 1,005,443,000 at the end of 2023[110] - Total current liabilities increased to RMB 1,050,193,000 as of 30 June 2024, up from RMB 963,625,000 at the end of 2023[110] - Net current liabilities stood at RMB 205,349,000 as of 30 June 2024, compared to net current assets of RMB 41,818,000 at the end of 2023[110] - Total equity decreased to RMB 609,146,000 as of 30 June 2024, down from RMB 667,963,000 at the end of 2023[112] - Property, plant, and equipment carrying amount increased to RMB 959,726,000 as of 30 June 2024 (31 December 2023: RMB 913,518,000)[162] - Investment properties carrying amount decreased to RMB 23,715,000 as of 30 June 2024 (31 December 2023: RMB 24,122,000)[164] - Financial assets at amortized cost decreased to RMB 386,327 thousand as of 30 June 2024 from RMB 401,932 thousand at the end of 2023[200] - Financial liabilities at amortized cost increased to RMB 1,441,318 thousand as of 30 June 2024 from RMB 1,299,477 thousand at the end of 2023[200] - Bank and other loans rose to RMB 1,224,462 thousand as of 30 June 2024, up from RMB 1,074,836 thousand at the end of 2023[200] Cash Flow and Financing - Net cash generated from operating activities was RMB 919,000 for the six months ended 30 June 2024, compared to a net cash used of RMB 71,471,000 in the same period of 2023[116] - Net cash used in investing activities was RMB 97,370,000 for the six months ended 30 June 2024, compared to RMB 86,994,000 in the same period of 2023[116] - Net cash generated from financing activities was RMB 128,254,000 for the six months ended 30 June 2024, compared to RMB 203,196,000 in the same period of 2023[116] - Cash and cash equivalents at the end of the period were RMB 63,308,000 as of 30 June 2024, down from RMB 108,007,000 at the end of the same period in 2023[116] - The Group's cash and cash equivalents amounted to RMB 63,308,000 as of 30 June 2024[124] - The Group incurred a net loss of RMB 59,169,000 for the six months ended 30 June 2024[124] - The Group's current liabilities exceeded its current assets by

Financial Performance - Total revenue for the six months ended June 30, 2024, was approximately RMB 219.4 million, an increase of about RMB 6.79 million or 3.2% compared to the same period in 2023[1]. - Loss attributable to owners of the company for the six months ended June 30, 2024, was RMB 59.2 million, compared to a loss of RMB 69.7 million in the same period of 2023[1]. - Basic loss per share for the six months ended June 30, 2024, was RMB 7.94, compared to RMB 9.36 for the same period in 2023[1]. - The company reported a total comprehensive loss of RMB 58.8 million for the six months ended June 30, 2024, compared to RMB 64.2 million for the same period in 2023[3]. - The company reported a net loss of RMB 59,169,000 for the six months ended June 30, 2024, with current liabilities exceeding current assets by RMB 205,349,000[9]. - The company did not declare an interim dividend for the six months ended June 30, 2024[1]. - The net loss before tax for the six months ended June 30, 2024, was RMB (56,934) thousand, an improvement from RMB (68,343) thousand in 2023, indicating a reduction of approximately 16.7%[18]. Revenue Segmentation - Total revenue for the MLCC segment was RMB 205,602,000, while the investment and financial services segment generated RMB 20,953,000, leading to a total revenue of RMB 226,555,000 for the six months ended June 30, 2024[15]. - Revenue from customer contracts for MLCC was RMB 205,602 thousand for the six months ended June 30, 2024, compared to RMB 194,252 thousand in 2023, reflecting an increase of about 5.5%[20]. - Revenue from the MLCC segment was RMB 205.6 million, up RMB 11.3 million or 5.8%, driven by an increase in average product prices[40]. Cost and Expenses - Research and development costs for the six months ended June 30, 2024, were RMB 27.8 million, down from RMB 31.4 million in the same period of 2023[2]. - Selling and distribution costs totaled RMB 10.2 million, an increase of 9.7% due to higher sales levels in the MLCC segment[43]. - Administrative expenses decreased to RMB 43.7 million, down RMB 2.0 million, mainly due to reduced employee costs[44]. - Financing costs increased to RMB 15.8 million, up RMB 7.7 million, primarily due to additional bank loan interest[46]. Assets and Liabilities - Total non-current assets as of June 30, 2024, amounted to RMB 1,243.7 million, an increase from RMB 1,008.3 million as of December 31, 2023[4]. - Current assets as of June 30, 2024, totaled RMB 844.8 million, a decrease from RMB 1,005.4 million as of December 31, 2023[4]. - Total liabilities as of June 30, 2024, were RMB 1,050.2 million, compared to RMB 963.6 million as of December 31, 2023[5]. - The current ratio decreased to 0.8 from 1.0, primarily due to an increase in bank loans[57]. - The group's debt-to-asset ratio increased to approximately 69.5% as of June 30, 2024, compared to 65.5% as of December 31, 2023, due to an increase in bank and other loans[59]. Cash Flow and Financing - As of June 30, 2024, the company's cash and cash equivalents amounted to RMB 63,308,000[9]. - Cash and bank balances totaled RMB 66.2 million, an increase of RMB 19.3 million, mainly from additional bank and other loans[51]. - The group had total bank credit facilities amounting to RMB 868.0 million, with RMB 760.4 million utilized[58]. - The company is actively negotiating loan terms with banks to address financial covenants and improve liquidity, including potential debt restructuring and capital injection[10]. Operational Developments - The company has established new production bases in Chuzhou and Dongguan, enhancing production capacity for high-end products to meet growing market demands[34]. - The company continues to invest in R&D and technical collaborations, focusing on ultra-micro, high-capacity, high-temperature, and high-reliability product developments[34]. - The company has successfully developed several niche products for specialized circuit applications, including three-terminal, copper terminal, and gold terminal MLCCs[34]. - The company’s MLCC division is experiencing a gradual recovery in demand, with inventory levels returning to normal after previous destocking and capacity adjustments[33]. Market and Strategic Initiatives - The group aims to enhance its core competitiveness through the development of new materials and processes, focusing on high-capacity and high-temperature products[63]. - The group plans to strengthen its fund management and risk control measures to protect investors' interests while exploring new business opportunities[63]. - The group is committed to expanding its market share by actively pursuing international strategies and enhancing product quality through continuous innovation[63]. - The group has implemented foreign exchange risk hedging measures to mitigate potential currency risks due to fluctuations in exchange rates[61]. Employee and Governance - The group reported a total of 1,223 employees as of June 30, 2024, down from 1,273 employees as of December 31, 2023[64]. - The group has maintained compliance with corporate governance codes as per the Hong Kong Stock Exchange regulations[67].