Group 1 - The core viewpoint of the article highlights that Tongtian Wine Industry (00389) reported a revenue of 59.695 million RMB for the six months ending June 30, 2025, representing a year-on-year growth of 6.3% [1] - The company recorded a profit attributable to owners and total comprehensive income of 62,000 RMB, a significant recovery from a loss of 261 million RMB in the same period last year [1] - Basic earnings per share were reported at 0.02 RMB [1] Group 2 - The increase in revenue is attributed to stable growth in demand for high-end wine products in China, which helped maintain stable sales and gross margins for the company's high-end wine segment [1]

Core Viewpoint - Tongtian Wine Industry (00389.HK) reported a revenue increase of approximately 6% to around RMB 59.695 million for the six months ending June 30, 2025, driven by stable demand for high-end wine products in China [1] Financial Performance - The profit attributable to owners and non-controlling interests for the period was approximately RMB 460,000, a significant recovery from a loss of about RMB 26 million in the same period of 2024 [1] - Basic and diluted earnings per share were RMB 0.02, compared to a loss of RMB 0.8651 per share in 2024 [1] Market Dynamics - The slight increase in revenue was primarily due to stable growth in demand for high-end wine products in China, which helped maintain stable sales and gross margins for the company's high-end wine offerings [1]

Group 1 - The core viewpoint of the article is that Tongtian Wine Industry (00389) reported a revenue of 59.695 million yuan for the six months ending June 30, 2025, representing a year-on-year growth of 6.3% [1] - The company recorded a profit attributable to owners of 62,000 yuan, a significant recovery from a loss of 261 million yuan in the same period last year [1] - Basic earnings per share were reported at 0.02 cents [1] Group 2 - The slight increase in revenue is primarily attributed to stable growth in demand for high-end wine products in China, which helped maintain stable sales and gross margins for the company's high-end wine segment [1]

[FINANCIAL HIGHLIGHTS](index=1&type=section&id=FINANCIAL%20HIGHLIGHTS) This section provides a concise overview of the company's key financial performance indicators for the first half of 2025 Key Financial Indicators for the Six Months Ended June 30, 2025 | Indicator | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Revenue | Approx. RMB 59,695,000 | Approx. RMB 56,141,000 | Up approx. 6% | | Gross Profit | Approx. RMB 7,454,000 | Approx. RMB 6,737,000 | Up approx. 6% | | Profit (Loss) for the Period | Approx. RMB 460,000 | Approx. RMB (260,872,000) | Turned loss into profit | | Basic and Diluted Earnings (Loss) Per Share | RMB 0.02 cents | RMB (86.51) cents | Turned loss into profit | [CONDENSED CONSOLIDATED FINANCIAL STATEMENTS](index=2&type=section&id=CONDENSED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) [CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME](index=2&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENT%20OF%20PROFIT%20OR%20LOSS%20AND%20OTHER%20COMPREHENSIVE%20INCOME) The company turned loss into profit in the first half of 2025, recording a profit of RMB 0.46 million, compared to a loss of RMB 261 million in the same period last year, primarily due to significant impairment losses on biological assets, inventories, property, plant and equipment, and trade receivables in the prior period, which did not recur in the current period, alongside an approximate 6% year-on-year increase in revenue Condensed Consolidated Statement of Profit or Loss (For the six months ended June 30) | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | **Revenue** | **59,695** | **56,141** | | Cost of Sales | (52,241) | (49,404) | | **Gross Profit** | **7,454** | **6,737** | | Other income, gains and losses | 113 | (91,362) | | Selling and distribution expenses | (2,059) | (2,686) | | Administrative and other operating expenses | (4,448) | (8,810) | | Impairment losses | 92 (net reversal) | (160,585) | | **Profit (Loss) before tax** | **642** | **(260,928)** | | Income tax expense | (182) | (16) | | **Total Profit (Loss) for the period** | **460** | **(260,944)** | | Profit (Loss) attributable to owners of the Company | 62 | (260,872) | | **Basic Earnings (Loss) Per Share** | **0.02 RMB cents** | **(86.51) RMB cents** | [CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION](index=3&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENT%20OF%20FINANCIAL%20POSITION) As of June 30, 2025, the company's financial position remained stable, with total assets of RMB 218 million and net assets of RMB 158 million, both showing a slight increase from the end of 2024, notably, bank and cash balances significantly increased from RMB 0.755 million to RMB 38.06 million, indicating a substantial improvement in liquidity Summary of Condensed Consolidated Statement of Financial Position | Item | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Non-current assets** | **28,241** | **28,668** | | **Current assets** | **190,107** | **188,766** | | Of which: Inventories | 60,205 | 48,700 | | Of which: Trade receivables | 71,016 | 76,680 | | Of which: Bank and cash balances | 38,060 | 755 | | **Current liabilities** | **60,456** | **60,109** | | **Non-current liabilities** | **107** | **–** | | **Net assets** | **157,785** | **157,325** | | **Total equity** | **157,785** | **157,325** | [Notes to the Financial Statements](index=4&type=section&id=Notes%20to%20the%20Financial%20Statements) [Revenue and Segment Information](index=4&type=section&id=Revenue%20and%20Segment%20Information) The Group's core business is the manufacturing and sale of wine products in China, representing its sole operating segment, with sweet wine sales revenue doubling year-on-year, while dry wine sales, the primary revenue driver, slightly decreased, and brandy and other product revenues remained relatively stable - The Group is primarily engaged in the manufacturing and sale of wine products in China, which constitutes its sole reportable operating segment, with all revenue, assets, and liabilities primarily attributable to the China region[18](index=18&type=chunk)[19](index=19&type=chunk) Revenue Analysis by Major Product Category (For the six months ended June 30) | Product Category | 2025 (RMB thousands) | 2024 (RMB thousands) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Sweet Wine | 5,160 | 2,549 | Up 102.4% | | Dry Wine | 43,398 | 44,850 | Down 3.2% | | Brandy | 4,818 | 5,078 | Down 5.1% | | Others | 6,319 | 3,664 | Up 72.5% | | **Total** | **59,695** | **56,141** | **Up 6.3%** | [Dividends](index=8&type=section&id=Dividends) The Board did not recommend the payment of any interim dividend for the six months ended June 30, 2025, consistent with the policy for the same period last year - No dividends were paid or proposed by the company for the six months ended June 30, 2025 and 2024[31](index=31&type=chunk)[33](index=33&type=chunk) [Earnings (Loss) Per Share](index=8&type=section&id=Earnings%20%28Loss%29%20Per%20Share) In the first half of 2025, the company's basic and diluted earnings per share were both RMB 0.02 cents, marking a significant performance turnaround compared to a loss per share of RMB 86.51 cents in the same period of 2024 Earnings (Loss) Per Share Calculation | Item | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Profit (Loss) used for calculation (RMB thousands) | 62 | (260,872) | | Weighted average number of ordinary shares (thousands of shares) | 301,562 | 301,562 | | **Basic and Diluted Earnings (Loss) Per Share (RMB cents)** | **0.02** | **(86.51)** | [Trade Receivables and Payables](index=9&type=section&id=Trade%20Receivables%20and%20Payables) As of June 30, 2025, trade receivables amounted to RMB 71.02 million, a slight decrease from the beginning of the period, with 93% of accounts aged within 90 days, indicating a healthy status, while trade payables increased slightly to RMB 16.27 million Aging Analysis of Trade Receivables | Aging | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | 0 to 90 days | 65,959 | 68,837 | | 91 to 180 days | 751 | 4,237 | | 181 to 365 days | 821 | 117 | | Over 365 days | 3,485 | 3,489 | | **Total** | **71,016** | **76,680** | Aging Analysis of Trade Payables | Aging | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | 0 to 90 days | 7,562 | 7,973 | | 91 to 180 days | 1,337 | 4,385 | | 181 to 365 days | 2,359 | 2,627 | | Over 365 days | 5,010 | 312 | | **Total** | **16,268** | **15,297** | [MANAGEMENT DISCUSSION AND ANALYSIS](index=11&type=section&id=MANAGEMENT%20DISCUSSION%20AND%20ANALYSIS) [Loss of Control of Certain Subsidiaries](index=11&type=section&id=Loss%20of%20Control%20of%20Certain%20Subsidiaries) The company continues to face a loss of control over its key subsidiaries in Tonghua, held by former executive directors, consequently, the financial positions of these subsidiaries were not consolidated into the Group's financial statements for the reporting period, and the Board is developing measures to mitigate losses - The company's key subsidiaries in Tonghua, China, remain in a state of lost control, and therefore their financial positions have not been consolidated into the financial statements for this interim period[44](index=44&type=chunk)[47](index=47&type=chunk) [Industry Overview](index=11&type=section&id=Industry%20Overview) In the first half of 2025, China's overall consumer market experienced a moderate recovery, yet the wine industry faced severe challenges with domestic production significantly declining by 26.7% year-on-year, while the imported wine market showed a trend of "decreasing volume but increasing value," indicating a shift towards higher quality and premium products - China's economy continued to recover, with total retail sales of consumer goods increasing by **5.0%** year-on-year in the first half of 2025, and tobacco and alcohol sales growing by **5.5%**[45](index=45&type=chunk)[48](index=48&type=chunk) - The domestic wine industry faced difficulties, with wine production by enterprises above designated size significantly decreasing by **26.7%** year-on-year, and market recovery yet to materialize[45](index=45&type=chunk)[48](index=48&type=chunk) - The imported wine market showed a "decreasing volume, increasing value" phenomenon: import volume decreased by **12.67%** year-on-year, but total import value increased by **1.45%**, indicating a premiumization trend in consumption[46](index=46&type=chunk)[49](index=49&type=chunk) [Financial Review](index=12&type=section&id=Financial%20Review) Against the backdrop of an industry downturn, the Group recorded total revenue of RMB 59.7 million in the first half of 2025, an increase of approximately 6% year-on-year, successfully turning a loss into a profit of RMB 0.46 million, primarily due to a substantial impairment charge of RMB 251 million on assets of the Tonghua subsidiaries, which were no longer under control, in the prior period, with no such impact in the current period - In the first half of 2025, the Group's total revenue was **RMB 59,695,000**, representing an approximate **6%** year-on-year increase, with sweet wine and dry wine sales accounting for **81%** of total revenue[52](index=52&type=chunk)[55](index=55&type=chunk) - The Group recorded a total profit and comprehensive income of **RMB 460,000**, compared to a total loss of **RMB 260,944,000** in the same period last year, with the performance turnaround primarily attributed to an impairment charge of **RMB 250,956,000** on the assets of the Tonghua subsidiaries in the prior period due to the inability to obtain their financial information[54](index=54&type=chunk)[55](index=55&type=chunk) [Operation Review](index=13&type=section&id=Operation%20Review) Facing challenges, the Group accelerated the development of its mid-to-high-end product lines and expanded health-oriented products, with production at the Shandong base increasing by 37.35% year-on-year, while the East China market contributed 78% of revenue as the core market, and online sales showed strong performance, accounting for 60% and becoming the primary sales channel - The Group's production base in Baiyanghe, Shandong, produced **3,475 metric tons** of various products, an increase of approximately **37.35%** compared to **2,530 metric tons** in the same period last year[61](index=61&type=chunk)[64](index=64&type=chunk) Revenue by Region and Channel Distribution | Dimension | Item | Revenue Contribution | | :--- | :--- | :--- | | **Regional Distribution** | East China | 78% | | | North China | 12% | | | Central-South China | 7% | | | Southwest China | 2% | | **Channel Distribution** | Online Sales | 60% | | | Offline Sales | 40% | - The company's strategy includes accelerating R&D for mid-to-high-end product lines, diversifying mass-market offerings (e.g., low-alcohol, organic products), optimizing its O2O sales network, and integrating big data and AI technologies to enhance supply chain efficiency[57](index=57&type=chunk)[58](index=58&type=chunk) [Business Prospects](index=15&type=section&id=Business%20Prospects) Despite the market being at a historical low, the Group believes new structural opportunities are emerging, and in the future, the company plans to align with trends of "light and easy-to-drink" beverages and category diversification by introducing Japanese alcoholic beverages like sake, aiming to create a "wine + Japanese light beverage" second growth curve targeting young and female consumers, while continuously strengthening the refined operation of e-commerce and social e-commerce channels - The company believes online channels remain a growth engine, expecting e-commerce and social e-commerce to continue capturing structural demand following industry consolidation[66](index=66&type=chunk)[68](index=68&type=chunk) - To adapt to market changes, the company plans to introduce Japanese alcoholic beverages such as sake, leveraging their 'low-alcohol, easy-to-drink, and food-pairing friendly' attributes to create a "wine + Japanese light beverage" second growth curve, targeting young and female consumers[67](index=67&type=chunk)[69](index=69&type=chunk) [Other Corporate Information](index=16&type=section&id=Other%20Corporate%20Information) [LIQUIDITY AND FINANCIAL RESOURCES](index=16&type=section&id=LIQUIDITY%20AND%20FINANCIAL%20RESOURCES) The Group maintains a healthy liquidity position, primarily funding its operations through internal operating cash flow, with cash and cash equivalents (excluding Tonghua subsidiaries for which financial information is unavailable) amounting to approximately RMB 38.06 million as of June 30, 2025 - The Group maintains a sound and positive working capital position, funding its operations through internal cash flows generated from operations[75](index=75&type=chunk)[78](index=78&type=chunk) - As of June 30, 2025, the Group's cash and cash equivalents amounted to approximately **RMB 38,060,000** (excluding Tonghua subsidiaries)[75](index=75&type=chunk)[78](index=78&type=chunk) [Employment and remuneration policy](index=17&type=section&id=Employment%20and%20remuneration%20policy) As of June 30, 2025, the Group (excluding Tonghua subsidiaries) employed 82 staff members, consistent with the end of 2024, and total salaries and related costs for the reporting period were approximately RMB 1.46 million, a significant decrease from RMB 9.15 million in the same period last year Staff and Remuneration Costs | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Number of employees (excluding Tonghua) | 82 | 82 | | **Item** | **For the six months ended June 30, 2025** | **For the six months ended June 30, 2024** | | Total salaries and related costs (RMB) | Approx. 1,460,000 | Approx. 9,149,000 | [Share Option Scheme](index=17&type=section&id=Share%20Option%20Scheme) As of June 30, 2025, a total of 29,405,480 unexercised share options were outstanding under the share option scheme, representing 10% of the company's issued shares, with no new options granted, exercised, or lapsed during the reporting period - As of June 30, 2025, the total number of granted but unexercised share options was **29,405,480**, with an exercise price of **HKD 0.92** and a weighted average remaining contractual life of **0.46 years**[83](index=83&type=chunk)[90](index=90&type=chunk)[91](index=91&type=chunk) - During the six months ended June 30, 2025, no share options were exercised, granted, lapsed, or forfeited[90](index=90&type=chunk)[91](index=91&type=chunk)[93](index=93&type=chunk) [CORPORATE GOVERNANCE](index=19&type=section&id=CORPORATE%20GOVERNANCE) The company complied with the principles of the Corporate Governance Code during the reporting period, with one deviation: the roles of Chairman and Chief Executive Officer were not separated, both held by Mr. Sun Jialiang, an arrangement the Board believes facilitates the Group's management and decision-making efficiency - The company deviated from the Corporate Governance Code's requirement for separation of the roles of Chairman and Chief Executive Officer, with Mr. Sun Jialiang holding both positions, an arrangement the Board believes contributes to efficient decision-making[99](index=99&type=chunk)[103](index=103&type=chunk)

格隆汇8月7日丨通天酒业(00389.HK)公告，公司网站将由"www.tontine-wines.com.hk"更改 为"www.00389.hk"，自2025年8月7日起生效。公司就刊登于香港联合交易所有限公司网站提交的所有公 布、通告或其他文件亦将于此公司新网站刊登。 ...

更改公司網站 中國通天酒業集團有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司網站將由 「 www.tontine-wines.com.hk 」更改為「 www.00389.hk 」，自二零二五年八月七日起生效。本 公司就刊登於香港聯合交易所有限公司網站提交的所有公佈、通告或其他文件亦將於此 本公司新網站刊登。 承董事會命 中國通天酒業集團有限公司 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佈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。 CHINA TONTINE WINES GROUP LIMITED 中國通天酒業集團有限公司 （於百慕達註冊成立的有限公司） （股份代號：389） 主席、行政總裁兼執行董事 孫佳良 香港，二零二五年八月七日 於本公佈日期，董事會執行董事為孫佳良先生及黃楚武先生；非執行董事為李瑜鴻先生 及朱明徽先生；及獨立非執行董事為李良先生、雷美嘉女士及陳偉傑先生。 ...

Group 1 - The company, Tongtian Liquor Industry (00389.HK), announced that it will hold a board meeting on August 15, 2025, to approve its interim results for the six months ending June 30, 2025, and to consider the declaration of an interim dividend, if any [1]

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佈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。 CHINA TONTINE WINES GROUP LIMITED 中國通天酒業集團有限公司 （於百慕達註冊成立的有限公司） （股份代號：389） 中國通天酒業集團有限公司 主席、行政總裁兼執行董事 孫佳良 香港，二零二五年八月一日 於本公佈日期，執行董事為孫佳良先生及黃楚武先生；非執行董事為李瑜鴻先生及朱明 徽先生；及獨立非執行董事為李良先生、雷美嘉女士及陳偉傑先生。 董事會召開日期 中國通天酒業集團有限公司（「本公司」）董事會（「董事會」）謹此公佈，本公司將於二零 二五年八月十五日（星期五）舉行董事會會議，以（其中包括）批准本公司及其附屬公司截 至二零二五年六月三十日止六個月的中期業績及其發佈，並考慮宣派中期股息（如有）。 繼續暫停買賣 本公司股份已由二零二四年九月二日上午九時正起於聯交所暫停買賣，並將繼續暫停直 至另行通知為止。 本公司股東及潛在投資者於投資或買賣本公司證券時務請謹慎行事。 承董事會 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國通天酒業集團有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00389 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.1 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.1 | HKD | | 100,000,000 | 本月底法定/註冊 ...

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 107,988,000, a decrease of 43% compared to RMB 189,139,000 in 2023[4] - Gross profit for 2024 was RMB 7,361,000, resulting in a gross profit margin of 7%, down from 14.88% in 2023[4] - Total comprehensive loss attributable to owners of the Company for 2024 was RMB 321,302,000, compared to a loss of RMB 80,199,000 in 2023[4] - Basic and diluted loss per share for 2024 was (106.55) RMB cents, compared to (26.59) RMB cents in 2023[4] - The Group recorded a loss and total comprehensive expense of RMB347,437,000 for the year[45] - The Group reported a net loss attributable to equity owners of approximately RMB 321.3 million for the year ended December 31, 2024[76] Assets and Liabilities - Non-current assets decreased to RMB 28,668,000 in 2024 from RMB 199,743,000 in 2023[9] - Current assets also declined to RMB 188,766,000 in 2024 from RMB 353,691,000 in 2023[9] - Shareholders' equity dropped significantly to RMB 92,577,000 in 2024 from RMB 403,920,000 in 2023[9] - Current liabilities of the Group stood at RMB 60.1 million, while available bank and cash balances were only RMB 755,000 as of December 31, 2024[76] - The Group's financial position as of December 31, 2024, is outlined in the consolidated financial statements[117] Operational Efficiency - The current ratio decreased to 3.14 in 2024 from 6.7 in 2023, indicating reduced liquidity[9] - The gearing ratio increased to 28% in 2024 from 10% in 2023, reflecting higher financial leverage[9] - Inventory turnover days increased to 329 days in 2024 from 408 days in 2023, suggesting slower inventory movement[9] - The inventory turnover days improved to approximately 329.24 days from 408 days in the previous year, indicating effective inventory management[53][58] - Trade receivables turnover days stood at 327.74 days, with trade receivables amounting to RMB 76,680,000, highlighting ongoing efforts in marketing and brand promotion[54][59] Governance and Management Changes - The company appointed Mr. Sun Jialiang as Chairman and CEO on September 30, 2024[11] - Mr. Wang Guangyuan resigned as Chairman and CEO on June 12, 2024[11] - The company experienced significant changes in its board, with multiple resignations and appointments throughout 2024[11][18][25] - The Audit Committee and Remuneration Committee were established with new members appointed on September 30, 2024[21][22] - The company is focusing on enhancing its governance structure with the appointment of new independent non-executive directors[18] - The Nomination Committee was formed with Mr. Sun Jialiang as Chairman, emphasizing the company's commitment to leadership stability[25] - The company secretary position was filled by Mr. Lai Wai Hing on November 13, 2024, indicating a focus on compliance and governance[18] - The company is undergoing a strategic review of its board composition to improve oversight and decision-making processes[25] - The company has seen a high turnover in executive positions, which may impact operational continuity and strategic direction[11][25] - The company is actively seeking to strengthen its leadership team to navigate future challenges and opportunities in the market[25] Market Performance - The sales revenue of sweet wine and dry wine accounted for 84.2% of the Group's total revenue, while brandy and other wine products accounted for 15.8%[36] - Revenue from the Eastern Region market was RMB 81,825,000, accounting for 75.8% of the group's total revenue, indicating strong market performance in that region[57][60] - In 2024, online sales accounted for 55% of the Group's total sales, while offline sales made up 45%[66] - In 2024, China's wine imports reached 280 million liters, with an import value of RMB 11.55 billion, reflecting year-on-year increases of 13.6% and 37.2%, respectively[62] - The Group anticipates that diversification into niche categories such as white wine and sparkling wine will be a key trend moving forward[63] Employee and Compensation - The Group employed a workforce of 82 in Hong Kong and China, with total salaries and related costs amounting to approximately RMB19,421,000, an increase from RMB17,980,000 in 2023[185] - The total salary and related costs for the year amount to RMB 19,421,000, compared to RMB 17,980,000 in 2023, reflecting an increase of approximately 8%[187] - The Group has adopted a share option scheme to motivate employees and reward their performance[184] - The 2023 Share Option Scheme aims to incentivize and retain high-caliber employees, with eligibility based on contributions to the Group's development[130] Shareholder Information - Bon Voyage Development Limited holds 40,000,000 shares of the company, representing approximately 13.27% of the issued share capital[84] - As of December 31, 2024, Mr. Wang Guangyuan holds 49,517,872 shares, representing approximately 16.42% of the company's issued share capital[165] - Mr. Li Jerry Y. and Mr. Zhu Minghui each hold 49,517,872 shares, also representing approximately 16.42% of the company's issued share capital, in addition to being beneficial owners of 20,000,000 shares each, which is about 6.63%[166] - The total number of shares held by Sky Source International Investments Limited is 69,517,872, accounting for approximately 23.05% of the issued share capital of the company[166] - The total number of Shares that may be issued under the 2023 Share Option Scheme shall not exceed 10% of the total number of Shares in issue on the Adoption Date[134] Compliance and Regulatory - The Company has maintained the prescribed public float as required under the Listing Rules throughout the year[191] - The Company has obtained all necessary permits and environmental approvals for its business operations, ensuring compliance with applicable environmental protection standards[197] - The existing auditor, Prism Hong Kong Limited, will retire at the upcoming annual general meeting and is eligible for re-appointment[200]