Financial Performance - The total comprehensive loss for the year ended December 31, 2023, was RMB 497,165,000, compared to a loss of RMB 327,718,000 in 2022, representing an increase in loss of approximately 51.7%[4]. - The company reported a basic loss per share of approximately RMB 335,800,000 for the year, compared to RMB 294,878,000 in 2022, reflecting a worsening financial performance[18]. - Total comprehensive income for the year ended December 31, 2023, was RMB 474,793,000, a decrease of 14.5% from RMB 555,727,000 in 2022[41]. - The company reported a net loss for the year of RMB (328,649,000), compared to a net loss of RMB (290,319,000) in the previous year[173]. - The company’s revenue for the year ended December 31, 2023, was RMB 474,793,000, a decrease of approximately 14.6% from RMB 555,727,000 in 2022[172]. Revenue Sources - Revenue from solar power plant customers A, B, and C totaled RMB 116,079,000, RMB 96,703,000, and RMB 0 respectively, showing a mixed performance compared to the previous year[13]. - Revenue from electricity sales decreased to RMB 286,256,000, down 25.8% from RMB 385,695,000 in the previous year[41]. - Revenue from solar power plant operation and maintenance services increased to RMB 121,856,000, up 4.9% from RMB 116,991,000 in 2022[41]. - The revenue from financial services increased by approximately 25.7% from RMB 53,041,000 in the previous year to RMB 66,681,000[92]. - The company’s revenue primarily comes from electricity sales, including renewable energy subsidies, and from providing operation and maintenance services for solar power plants[184]. Assets and Liabilities - Non-current assets amounted to RMB 1,758,436,000, a decrease from RMB 804,414,000 in the previous year, indicating a significant reduction in asset value[5]. - The total value of assets classified as held for sale was RMB 1,252,629,000, indicating potential future divestitures[27]. - The company reported a total non-current liability of RMB 632,413,000, a decrease from RMB 1,641,748,000 in the previous year, indicating improved financial leverage[6]. - The total liabilities increased to RMB 2,028,118,000 from RMB 804,414,000, indicating a significant rise in financial obligations[34]. - The net asset value decreased to RMB 2,930,038,000 from RMB 3,434,116,000, reflecting a decline in the company's equity[35]. Cash Flow and Financing - The company completed the sale of several subsidiaries for a total cash consideration of approximately RMB 407,848,000, which may impact future revenue streams[30]. - The company’s cash and cash equivalents decreased to RMB 254,778,000 in 2023 from RMB 301,979,000 in 2022[176]. - The company expects to have sufficient working capital to fund its operations for the next twelve months, considering ongoing financing and operational measures[183]. - The company anticipates that the outstanding balance from the sale of subsidiaries will be settled within the next 12 months[193]. - Interest expenses on loans and borrowings decreased to RMB 155,769,000 in 2023 from RMB 178,597,000 in 2022, indicating a reduction of approximately 12.8%[186]. Employee and Administrative Expenses - Employee benefits expenses increased to approximately RMB 234,962,000 from RMB 173,094,000, reflecting a significant rise in compensation costs[125]. - Administrative expenses rose by approximately 15.8% from RMB 167,011,000 to RMB 193,473,000, mainly due to increased employee benefit costs[150]. - The company has approximately 1,375 employees as of December 31, 2023, compared to 769 in 2022, indicating a significant increase in workforce[125]. Acquisitions and Investments - The company is entering the digital health management business with the acquisition of Beijing Eagle Eye Intelligent Health Technology Co., Ltd., expected to generate revenue in 2024[67]. - The company has completed the acquisition of several solar power companies, with total cash consideration of RMB 407,848,000[58]. - The company acquired a 69.45% stake in Beijing Eagle Eye Intelligent Health Technology Co., Ltd. for a total consideration of RMB 6,000,000[107]. - The company recorded a goodwill impairment loss of approximately RMB 4,019,000 due to the new acquisition of health management services[99]. Operational Performance - The total power generation capacity of the solar power plants owned by the company decreased to 401,352 MWh, down about 21.6% from 511,840 MWh in the previous year[161]. - As of December 31, 2023, the company has completed solar power plants with a total capacity of 290 MW, down from 359.8 MW in the previous year[91]. - The carrying amount of completed solar power plants was approximately RMB 939,706,000, down from RMB 2,049,134,000 in 2022[74]. - The company recorded a gross profit of RMB 219,648,000 in 2023, down from RMB 267,689,000 in 2022[173]. - The gross profit decreased by approximately 17.9% from RMB 267,689,000 to RMB 219,648,000, with the gross profit margin dropping from about 48.2% to 46.3%[95]. Compliance and Regulatory Matters - The company is actively cooperating with relevant Chinese government agencies regarding compliance checks on solar power project equity transfers[124]. - The company has not recorded any significant events after December 31, 2023, up to the date of this announcement[130].

智通财经APP讯，江山控股(00295)发布公告，锦州银行股份有限公司(锦州银行，一间于中华人民共和国(中国)成立的公司，其H股于联交所主板上市(00416))与辽宁金融控股集团有限公司(要约人，一间于中国成立的有限责任公司)于2024年1月26日联合刊发公告，内容有关：要约人提出自愿有条件全面现金要约，以每股内资股人民币1.25元收购锦州银行的全部已发行内资股(内资股)(要约人及其一致行动人士已持有的股份除外)(内资股要约)。 于本公告日期，该公司持有1.075亿股内资股。该公司已与锦州银行联络，现阶段无法获得有关内资股要约的进一步详情。公司将根据公司及股东的整体利益考虑是否接受该内资股要约。倘公司决定出售其持有的内资股，预期出售事项将构成上市规则第 14章项下公司的主要交易，须遵守公告及股东批准规定。公司将根据上市规则于适当时候作出进一步公告。 ...

智通财经APP讯，江山控股(00295)公布，于2024年1月29日，该公司间接全资附属扬州启星新能源发展有限公司拟向北京亿鑫丰泰科技合伙(有限合伙)出售陕西亿润新能源科技有限公司的60%股权，总代价为人民币420万元。预期该集团将就建议出售事项实现亏损约人民币550万元。 据悉，目标公司主要从事提供太阳能发电厂运营及维护服务。 董事认为，此乃该集团出售目标公司的良机，以便更好地将集团的资源分配予集团其他业务分部，并透过削减集团的亏损提升集团的财务状况。 ...

Financial Performance - The company's revenue for the six months ended June 30, 2023, was RMB 232.66 million, a decrease of approximately 18.4% compared to RMB 284.98 million for the same period in 2022[8]. - Gross profit for the same period was RMB 96.86 million, down about 25.8% from RMB 130.56 million in the previous year, resulting in a gross margin decrease from 45.8% to 41.6%[16]. - The company reported a net loss attributable to shareholders of RMB 4.18 million, an improvement from a loss of RMB 89.47 million in the prior year[8]. - Revenue from electricity sales decreased by approximately 28.9% to RMB 153.55 million from RMB 215.86 million year-on-year[13]. - Revenue from providing financial services increased by approximately 63.9% to RMB 28.52 million from RMB 17.41 million in the previous year[12]. - The company reported a basic and diluted loss per share of approximately RMB 0.03 for the six months ended June 30, 2023, compared to RMB 0.61 for the same period in 2022[150]. - Adjusted EBITDA for the first half of 2023 was RMB 100,130 thousand, down from RMB 132,969 thousand in the first half of 2022, indicating a decrease of about 24.6%[129]. Assets and Liabilities - The company held a total asset value of RMB 5.95 billion as of June 30, 2023, compared to RMB 6.00 billion at the end of 2022[8]. - Non-current assets totaled RMB 3.69 billion, showing a slight increase from RMB 3.67 billion in the previous year[8]. - The group's cash and cash equivalents decreased to approximately RMB 181,530,000 as of June 30, 2023, from RMB 301,979,000 as of December 31, 2022, indicating a decline of about 39.9%[36]. - The total amount of loans and borrowings increased by approximately 1.1% to RMB 2,056,465,000 as of June 30, 2023, compared to RMB 2,034,419,000 as of December 31, 2022[38]. - The total liabilities increased slightly to RMB 1,778,690 thousand from RMB 1,765,184 thousand, with non-current liabilities rising to RMB 1,659,739 thousand[82]. - The company's equity attributable to owners was RMB 3,345,519 thousand, a marginal decrease from RMB 3,346,066 thousand[82]. Operational Highlights - Total installed capacity of solar power plants held by the company remained at 359.8 MW as of June 30, 2023, with a total generation of approximately 211,330 MWh, a decrease of about 26.8% from 288,885 MWh in the previous year[13]. - The company plans to continue operating solar power plants, optimize asset allocation efficiency, and enhance equipment performance while transitioning to new businesses in other energy and health sectors[54]. - The company has identified solar power plants, financial services, and liquefied natural gas trading as its main business segments[108]. - The company has plans for market expansion and new product development, focusing on enhancing its solar power generation capabilities[83]. Expenses and Income - Administrative expenses increased by approximately 9.4% to RMB 96.67 million, primarily due to higher employee benefits costs[17]. - Other income increased significantly by approximately 22.1 times to RMB 41.92 million, driven by higher dividend and interest income[16]. - The company reported a financial expense of RMB 79,991,000 for the six months ended June 30, 2023, a decrease of 25.2% from RMB 106,852,000 in the previous year[77]. - The total employee benefit expenses for the six months ended June 30, 2023, amounted to approximately RMB 101,807,000, an increase from RMB 83,022,000 for the same period in 2022, reflecting a focus on attracting and retaining talent[46]. Cash Flow - The company reported a net cash outflow from operating activities of RMB (225,580) thousand for the six months ended June 30, 2023, compared to a net inflow of RMB 90,525 thousand in the same period of 2022[87]. - Investment activities generated a net cash inflow of RMB 91,504 thousand, a decrease from RMB 352,064 thousand in the prior year[87]. - Net cash used in financing activities was RMB 9,907,000, a significant improvement compared to RMB 905,306,000 in the previous year[89]. - The net decrease in cash and cash equivalents was RMB 143,983,000, compared to a decrease of RMB 462,717,000 in the same period last year[89]. Shareholder Information - Major shareholder Miao Yu holds 4,169,300,000 shares, representing 27.86% of the company's equity, while Xiang Jun holds 756,831,000 shares, representing 5.06%[60]. - The company did not declare any interim dividend for the six months ended June 30, 2023, consistent with the previous year[67]. - The company did not declare or propose any dividends for the six months ended June 30, 2023, consistent with the previous year[151]. Market Conditions - Future guidance indicates a cautious outlook due to market conditions, with a focus on cost management and operational efficiency[83]. - In the first half of 2023, China added 78.42 million kW of new solar power capacity, bringing the cumulative installed capacity to 470 million kW, with total solar power generation reaching 266.3 billion kWh[54].

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分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 KONG SUN HOLDINGS LIMITED 江 山 控 股 有 限 公 司 （於香港註冊成立之有限公司） （股份代號：295） 截至二零二三年六月三十日止六個月的 未經審核中期業績公告 江山控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其附屬公司 （統稱「本集團」）截至二零二三年六月三十日止六個月的未經審核簡明綜合中期業績如下。 簡明綜合損益表 截至二零二三年六月三十日止六個月 （除非另有說明，以人民幣呈列） 截至六月三十日止六個月 二零二三年 二零二二年 附註 人民幣千元 人民幣千元 （未經審核） （未經審核） 收入 3 232,658 284,980 銷售成本 (135,794) (154,424) ...

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分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 KONG SUN HOLDINGS LIMITED 江 山 控 股 有 限 公 司 （於香港註冊成立之有限公司） （股份代號：295） 有關截至二零二二年十二月三十一日止年度 年報之 補充公告 茲提述江山控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）於二零二三年四月 二十六日刊發之截至二零二二年十二月三十一日止年度（「二零二二年財政年度」）之年報（「年 報」）。除另行界定外，本公告所用詞彙與年報內所界定者具相同涵義。 董事會謹此補充以下額外資料，內容有關年報所披露於二零二二年十二月三十一日之提 供金融服務產生的應收貸款。 ...

Financial Performance - The company reported a total revenue of RMB 555.73 million for the year 2022, a decrease of 44% compared to RMB 992.76 million in 2021[10]. - Gross profit for 2022 was RMB 267.69 million, down 54% from RMB 580.40 million in the previous year[10]. - The company incurred a net loss of RMB 290.32 million in 2022, significantly improved from a loss of RMB 935.34 million in 2021[10]. - The company's revenue decreased by approximately 44.0% from RMB 992,756,000 for the year ended December 31, 2021, to RMB 555,727,000 for the year ended December 31, 2022, primarily due to a decline in electricity sales[41]. - Revenue from electricity sales dropped approximately 56.9% from RMB 895,825,000 for the year ended December 31, 2021, to RMB 385,695,000 for the year ended December 31, 2022, attributed to reduced total electricity generation following the sale of subsidiaries[43]. - The total electricity generation from solar power plants owned by the company decreased by approximately 57.0%, from 1,189,413 MWh to 511,840 MWh[43]. - Revenue from solar power plant operation and maintenance services increased by approximately 78.7%, from RMB 65,463,000 to RMB 116,991,000, due to the commencement of several service contracts[43]. - The company's gross profit decreased by approximately 53.9% from RMB 580,398,000 to RMB 267,689,000, with the gross profit margin declining from approximately 58.5% to 48.2%[46]. - Financial expenses decreased by approximately 62.7% from RMB 498,295,000 to RMB 186,081,000, due to a reduction in loans and borrowings[54]. Assets and Liabilities - The total assets of the company decreased to RMB 6.00 billion in 2022 from RMB 8.23 billion in 2021[10]. - Non-current assets totaled RMB 3.67 billion, down from RMB 4.44 billion in the previous year[10]. - The carrying amount of completed and in-progress solar power plants decreased from RMB 2,844,751,000 to RMB 2,049,134,000[55]. - Financial assets measured at fair value through other comprehensive income decreased by approximately 64.1% from RMB 1,186,361,000 as of December 31, 2021, to RMB 760,194,000 as of December 31, 2022[61]. - Accounts receivable, notes receivable, and other receivables decreased by approximately 16.2% from RMB 2,626,491,000 as of December 31, 2021, to RMB 2,200,899,000 as of December 31, 2022, primarily due to the sale of subsidiaries[63]. - Total loans and borrowings decreased by approximately 43.3% from RMB 3,587,727,000 as of December 31, 2021, to RMB 2,034,419,000 as of December 31, 2022, mainly due to reduced funding for sold subsidiaries[68]. - Cash and cash equivalents amounted to approximately RMB 301,979,000 as of December 31, 2022, down from RMB 699,574,000 as of December 31, 2021[65]. - The total amount of pledged assets as of December 31, 2022, was approximately RMB 998,866,000, down from RMB 2,054,066,000 as of December 31, 2021[74]. Credit Risk and Loans - The expected credit loss for loans was approximately RMB 18,771,000 in 2022, compared to RMB 12,767,000 in 2021, indicating an increase in loan impairment[18]. - The credit risk assessment involves evaluating factors such as repayment ability, repayment history, and collateral effectiveness[24]. - The credit committee, composed of five senior management members, is responsible for approving and monitoring the credit policies and loan portfolio[19]. - The company employs a general approach to measure expected credit losses for receivables[23]. - The company has identified six major clients with outstanding loans, with amounts ranging from RMB 3,300,000 to RMB 4,500,000, all at an annual interest rate of 12%[16]. - The company has increased its credit risk monitoring efforts, including sampling loan documents to ensure compliance with approval procedures[20]. - The company’s credit risk classification includes three stages, with significant increases in credit risk triggering different assessment protocols[24]. - The company is considering legal actions to recover loans from several customers, indicating a proactive approach to managing credit risk[31]. - The company has identified that the loans may incur certain losses but still possess recoverability, categorizing the risk level as stage three[31]. Employee and Governance - As of December 31, 2022, the group had approximately 769 employees, a decrease from 837 employees in 2021, with total employee benefits expenditure amounting to RMB 173,094,000, up from RMB 131,668,000 in 2021[81]. - The company emphasizes the importance of maintaining strong relationships with employees, customers, and business partners, providing competitive compensation and development opportunities[114]. - The board consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors[180]. - The company has complied with listing rules regarding the independence of directors, confirming that all independent non-executive directors are independent[181]. - The remuneration committee is responsible for formulating compensation policies and providing recommendations to the board regarding the remuneration of executive directors and senior management[198]. - The company has adopted a diversity policy for board members, considering various factors such as gender, age, and professional experience during the selection process[200]. Future Plans and Strategy - The company aims to optimize its asset structure and enhance the efficiency of power generation equipment in the future[8]. - The company plans to continue focusing on clean energy business and accelerate new business transformation practices[8]. - The group plans to continue operating solar power plants, optimize asset allocation efficiency, and enhance the performance of power station equipment while transitioning to new businesses in other energy and health sectors[86]. - The company is actively exploring investment opportunities in other energy, technology, and health sectors[7]. - The company is focused on mitigating grid power limitation risks by developing solar projects in regions with strong energy demand and improving inter-provincial transmission networks[120]. Compliance and Regulatory Risks - The company faces significant risks from government policy changes affecting the solar energy industry, including tax incentives and regulatory adjustments[119]. - The company operates primarily in China, and its performance is heavily influenced by the country's economic, political, and legal developments[122]. - The company has not engaged in foreign exchange hedging activities, which may expose it to currency depreciation risks affecting dividend payments to overseas shareholders[124]. - The company is committed to environmental sustainability and has adhered to relevant laws and regulations impacting its operations as of December 31, 2022[113]. Dividends and Shareholder Relations - The company did not recommend the payment of a final dividend for the year ended December 31, 2022[101]. - The company has no predetermined dividend payout ratio, and any changes to the dividend policy must be approved by the board[106][107]. - The company reported no distributable reserves as of December 31, 2022, indicating limited capacity for dividend distribution[128].

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，並明確表示概不就因本公告全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 KONG SUN HOLDINGS LIMITED 江 山 控 股 有 限 公 司 （於香港註冊成立之有限公司） （股份代號：295） 截至二零二二年十二月三十一日止年度的 全年業績公告 江山控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其附屬公司 （統稱「本集團」）截至二零二二年十二月三十一日止年度的經審核綜合業績，連同二零 二一年相應年度的比較數字如下： ...

Financial Performance - The group reported a revenue of RMB 992.76 million in 2021, down from RMB 1,478.21 million in 2020, indicating a decrease of approximately 32.9%[16]. - The gross profit for 2021 was RMB 580.40 million, a decline from RMB 921.25 million in 2020, reflecting a decrease of about 37.0%[16]. - The net loss for the year was RMB 935.34 million, compared to a loss of RMB 625.73 million in 2020, representing an increase in losses of approximately 49.5%[16]. - Revenue from electricity sales dropped by about 34.9% from RMB 1,375,490,000 to RMB 895,825,000, primarily due to the sale of subsidiaries which reduced total electricity generation[26]. - Revenue from financial services decreased by approximately 19.5% to RMB 30.01 million in 2021, down from RMB 37.30 million in 2020[22]. - Revenue from the trading of liquefied natural gas plummeted by approximately 96.7% to RMB 1.45 million in 2021, compared to RMB 44.38 million in 2020[23]. - The group's revenue decreased by approximately 32.8% from RMB 1,478,209,000 for the year ended December 31, 2020, to RMB 992,756,000 for the year ended December 31, 2021[25]. - The group's gross profit decreased by approximately 37.0% from RMB 921,248,000 to RMB 580,398,000, with the gross profit margin declining from about 62.3% to 58.5%[30]. - Other net income increased by approximately 90.7% from RMB 18,202,000 to RMB 34,708,000, mainly due to the reversal of other payables[31]. - The net loss from the sale of subsidiaries amounted to approximately RMB 484,570,000 for the year ended December 31, 2021, compared to RMB 182,220,000 in 2020[33]. Assets and Liabilities - The total liabilities of the group decreased to RMB 4.47 billion as of December 31, 2021, down from RMB 9.60 billion in 2020, a reduction of about 53.4%[16]. - The total loans and borrowings decreased by approximately 42.9% to RMB 3,587,727,000 as of December 31, 2021, down from RMB 6,285,578,000 in 2020, primarily due to the sale of subsidiaries[52]. - Accounts receivable, notes receivable, and other receivables decreased by approximately 26.3% to RMB 2,626,491,000 as of December 31, 2021, from RMB 3,561,766,000 in 2020, mainly due to the sale of subsidiaries[46]. - The company's cash and cash equivalents amounted to approximately RMB 699,574,000, an increase of about 314.5% from RMB 168,947,000 in 2020[49]. - The company's accounts payable and other payables decreased by approximately 52.3% to RMB 506,230,000 as of December 31, 2021, from RMB 1,060,610,000 in 2020, primarily due to the sale of subsidiaries[48]. - Lease liabilities decreased to approximately RMB 145,238,000 as of December 31, 2021, from RMB 182,228,000 in 2020, mainly due to the sale of subsidiaries[55]. - The carrying amount of completed solar power plants and those under construction was approximately RMB 2,844,751,000 and RMB 6,904,000, respectively, as of December 31, 2021[39]. Operational Highlights - In 2021, the total installed capacity of the group reached 529.8 MW, with a total power generation of approximately 1,189,413 MWh, representing a 3.3% increase compared to 2020[13]. - The group holds 17 operational solar power plants across various provinces in China, including Shaanxi, Anhui, and Henan[20]. - The group aims to optimize its solar power asset structure and enhance the efficiency of power generation equipment in the future[13]. - The group plans to continue exploring investment opportunities in the clean energy sector and expand its business operations[13]. - Revenue from providing solar power plant operation and maintenance services increased by approximately 211.2% from RMB 21,038,000 to RMB 65,463,000, attributed to new service contracts[26]. Governance and Management - The company has adopted a stock option plan to incentivize and reward eligible participants contributing to the group's business success[65]. - The company has established an audit committee to oversee financial reporting, risk management, and internal control principles[179]. - The remuneration committee is responsible for determining the remuneration of executive directors and senior management, ensuring that performance-linked pay is aligned with corporate goals[182]. - The nomination committee confirmed that the current board structure is appropriate and does not require changes as of December 31, 2021[187]. - The chairman and CEO roles are currently held by the same individual, which the board believes ensures consistency in leadership and effective strategic planning[175]. - The company has established a comprehensive insurance policy to protect directors against legal liabilities arising from corporate activities[173]. Market and Industry Outlook - The clean energy industry is expected to experience new development opportunities driven by global climate goals and supportive government policies in China[67]. - The company faces significant risks from government policy changes affecting the solar energy industry, including tax incentives and feed-in tariffs[97]. - Since 2014, the national power generation capacity utilization rate has declined due to slower electricity consumption growth, leading to concerns about grid curtailment for solar energy projects[98]. - Electricity prices, a major driver of the company's profitability, may decrease to levels comparable to coal energy, impacting the profitability of new solar energy projects[99]. - The company is focused on developing solar projects in regions with strong energy demand to mitigate grid curtailment risks[98]. Employee and Social Responsibility - The company emphasizes the importance of maintaining good relationships with employees, customers, and business partners for sustainable development[92]. - The total contributions to the retirement plan recorded in the consolidated income statement for the year ended December 31, 2021, amounted to approximately RMB 24,620,000, an increase from RMB 15,325,000 in 2020[154]. - The company has established a mandatory provident fund plan for employees in Hong Kong, with both employer and employee contributing 5% of the employee's relevant income, capped at HKD 30,000 per month[154]. - The company is committed to environmental sustainability and has implemented practices to ensure effective resource utilization[91]. Shareholder Information - The company did not purchase, sell, or redeem any of its listed securities during the year ended December 31, 2021[134]. - The company has not reported any distributable reserves as of December 31, 2021, indicating potential limitations on dividend payments[106]. - The board does not recommend the payment of a final dividend for the year ending December 31, 2021[82]. - The company has no predetermined dividend payout ratio, and any changes to the dividend policy must be approved by the board[86].

Financial Performance - For the first half of 2021, the company reported revenue of approximately RMB 563.68 million, a decrease of 27.2% compared to RMB 774.25 million in the same period of 2020[10]. - The gross profit for the first half of 2021 was approximately RMB 345.35 million, down 29.3% from RMB 488.44 million in the first half of 2020[10]. - The company incurred a loss of RMB 153.30 million in the first half of 2021, compared to a loss of RMB 33.49 million in the same period of 2020[10]. - Revenue from electricity sales decreased by approximately 27.5% to RMB 532,676,000 for the six months ended June 30, 2021, compared to RMB 734,915,000 for the same period in 2020[22]. - The company's gross profit decreased by approximately 29.3% to RMB 345,353,000 for the six months ended June 30, 2021, compared to RMB 488,442,000 for the same period in 2020[26]. - The net loss for the period was RMB 153.298 million, compared to a net loss of RMB 33.487 million in the prior year, representing a significant increase in losses[121]. - The company reported a loss per share of RMB 1.02 for the period, compared to a loss per share of RMB 0.34 in the previous year[120]. Operational Capacity - As of June 30, 2021, the total installed capacity of the company's solar power plants was 838.8 MW, with a total power generation of approximately 718,774 MWh, an increase of 2.4% year-on-year[7]. - The total installed capacity of completed solar power plants owned by the company as of June 30, 2021, is 838.8 MW, with 29 plants across various provinces in China[13]. - The installed capacity of completed solar power plants as of June 30, 2021, was 838.8 MW, down from 1,178.8 MW as of December 31, 2020[37]. Financial Position - Total liabilities as of June 30, 2021, were approximately RMB 69.54 billion, a reduction of about RMB 2.65 billion from December 31, 2020[7]. - The total assets of the company as of June 30, 2021, were approximately RMB 115.03 billion, down from RMB 143.03 billion at the end of 2020[10]. - Accounts receivable increased by approximately 15.1% to RMB 4,100,389,000 as of June 30, 2021, from RMB 3,561,766,000 as of December 31, 2020[44]. - The company's liabilities-to-equity ratio was approximately 1.22 as of June 30, 2021, compared to 1.36 as of December 31, 2020[49]. - The company's equity attributable to owners was RMB 4.466 billion, down from RMB 4.621 billion at the end of 2020, a decrease of 3.3%[126]. Cash Flow - The net cash flow from operating activities for the six months ended June 30, 2021, was RMB 399,849,000, compared to RMB 604,165,000 for the same period in 2020, representing a decrease of approximately 33.8%[141][142]. - The net cash flow from investing activities for the six months ended June 30, 2021, was RMB 800,707,000, a significant increase compared to RMB 138,674,000 in the previous year[166]. - The net cash flow used in financing activities for the six months ended June 30, 2021, was RMB 1,176,255,000, compared to RMB 813,672,000 in the same period of 2020, indicating an increase of approximately 44.7%[167]. - The company raised RMB 475,000,000 from new loans and borrowings during the six months ended June 30, 2021, compared to RMB 322,500,000 in the same period of 2020[167]. - The company repaid loans and borrowings totaling RMB 1,244,875,000 during the current period, which is an increase from RMB 831,022,000 in the previous year[167]. Strategic Focus - The company aims to optimize its solar power asset structure and enhance the efficiency of power generation equipment in the future[7]. - The company is actively exploring investment opportunities in other clean energy sectors and expanding its solar and wind power operation and maintenance services[7]. - The company plans to continue its focus on clean energy business and contribute to environmental protection through green low-carbon energy development[7]. - The company plans to continue advancing its solar power plant operations strategy and optimize asset allocation efficiency to ensure cash flow security[67]. - The company will continue to explore investment opportunities in other clean energy sectors to enhance asset returns and shareholder value[67]. Employee and Governance - The company has approximately 660 employees as of June 30, 2021, an increase from 622 employees as of December 31, 2020[63]. - The company has adopted the corporate governance code as per the listing rules, ensuring investor confidence[108]. - The company believes that consolidating the roles of Chairman and CEO under the same individual enhances internal leadership consistency[111]. Share Option Plan - The total number of shares that can be issued upon the exercise of all options granted under the share option plan shall not exceed 10% of the total issued shares of the company at the time the plan was adopted, which is 176,266,251 shares[76]. - The share option plan is valid for ten years from the date of adoption, which is July 21, 2019, and no further options can be granted after the expiration date[84]. - The options granted but not exercised as of June 30, 2021, include 16,000,000 shares at an exercise price of HKD 0.30, representing 0.11% of the total issued shares[87]. - The company may grant options exceeding the 10% limit to specified participants with shareholder approval, detailing the number and terms of the options in a circular to shareholders[79].