Financial Proceeds and Utilization - The unutilized net proceeds from the rights issue for repaying corporate bonds are expected to be utilized by December 2025[5]. Share Options and Issuance - As of the report date, there are no unexercised options, with a total of 39,582,816 shares available for issuance under the share option scheme, representing approximately 2.3% of the company's issued shares[6]. - The weighted average closing price of shares prior to the exercise of options for the year ending December 31, 2024, was HKD 0.69[9].

目錄 | 公司資料 | 2 | | --- | --- | | 企業簡介 | 4 | | 主席報告 | 5 | | 管理層討論及分析 | 6 | | 董事及高級管理人員簡歷 | 26 | | 董事會報告 | 29 | | 企業管治報告 | 39 | | 環境、社會及管治報告 | 56 | | 獨立核數師報告 | 80 | | 綜合財務報表 | 87 | | 五年財務概要 | 192 | 2024 年 報 2024 ANNUAL REPORT 2024 Annual Report 年報 姜森林先生 （審核委員會主席） 屈衛東先生 胡曉琳女士 薪酬委員會 胡曉琳女士 （薪酬委員會主席） 張志祥先生 屈衛東先生 姜森林先生 公司資料 上市地點 香港聯合交易所有限公司 股份代號：00527 執行董事 袁萬永先生 （主席） 張志祥先生 （行政總裁） 寧忠志先生 獨立非執行董事 屈衛東先生 胡曉琳女士 姜森林先生 審核委員會 提名委員會 屈衛東先生 （提名委員會主席） 張志祥先生 胡曉琳女士 姜森林先生 公司秘書 黃鈺琪女士 授權代表 張志祥先生 黃鈺琪女士 主要往來銀行 香港： 中國銀行（香港）有限公司 中國民生銀行股 ...

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was RMB 336,274,000, a decrease of 2.5% from RMB 343,811,000 in 2023[3]. - The gross profit for the same period was RMB 119,166,000, down 5.4% from RMB 125,962,000 in 2023[3]. - The operating profit significantly decreased to RMB 31,357,000, a decline of 56.5% compared to RMB 72,098,000 in 2023[3]. - The net loss for the year was RMB 125,777,000, compared to a loss of RMB 94,773,000 in 2023, representing a 32.7% increase in losses[3]. - Revenue from electricity sales for the year ended December 31, 2024, was RMB 234,020,000, a decrease of 6.8% from RMB 251,163,000 in 2023[18]. - The group recognized revenue from electricity price subsidies of RMB 85,431,000 for the year ended December 31, 2024, down from RMB 91,581,000 in 2023[18]. - The company's basic loss per share for 2024 was RMB 0.079, compared to RMB 0.099 in 2023, with a total loss attributable to shareholders of RMB 132,517,000 in 2024 versus RMB 108,955,000 in 2023[28]. - The gross profit for the year ended December 31, 2024, was approximately RMB 119,166,000, resulting in a gross margin of about 35%, down from 37% in the previous year[60]. - The operating profit decreased significantly to RMB 31,357,000, a decline of 57% from RMB 72,098,000 in the previous year[56]. - The net loss for the year ended December 31, 2024, was approximately RMB 125,777,000, an increase of 33% compared to RMB 94,773,000 in the previous year[66]. Assets and Liabilities - Total assets increased to RMB 2,479,411,000, up from RMB 1,865,469,000 in 2023, reflecting a growth of 32.9%[5]. - Total liabilities rose to RMB 2,392,742,000, an increase of 44.7% from RMB 1,653,481,000 in 2023[7]. - Non-current assets increased significantly to RMB 1,632,028,000, up from RMB 957,724,000 in 2023, marking a growth of 70.3%[5]. - The company’s cash and cash equivalents decreased to RMB 244,609,000 from RMB 385,512,000 in 2023, a decline of 36.6%[5]. - As of December 31, 2024, the group's current liabilities exceeded current assets by approximately RMB 252,551,000, and a net loss of approximately RMB 125,777,000 was recorded for the year[16]. - The total amount of loans receivable from independent third parties was approximately RMB 112,495,000 in 2024, down from RMB 127,775,000 in 2023, with interest rates ranging from 5% to 18%[doc id='37']. - The total trade payables increased to RMB 25,672,000 in 2024 from RMB 21,196,000 in 2023, reflecting a growth of approximately 21.7%[doc id='38']. - The company's total debt increased to approximately RMB 2,076,627,000, up by about RMB 557,092,000 from RMB 1,519,535,000 in the previous year[69]. - The current ratio dropped to 77% from 222% in the previous year, indicating a significant decline in liquidity[56]. - The average collection period for trade receivables increased to 246 days from 177 days in the previous year, indicating slower collection[56]. Revenue Sources - Revenue from wind farm operations for the year ended December 31, 2024, was approximately RMB 319,451,000, a decrease of about 7% compared to RMB 342,744,000 for the year ended December 31, 2023[42]. - One customer contributed over 10% of the total revenue, with contributions of RMB 319,451,000 in 2024 and RMB 342,708,000 in 2023[25]. Impairment and Provisions - The company recorded a provision for impairment of trade receivables amounting to RMB 2,030,000 for both 2024 and 2023, indicating no change in the impairment assessment[35]. - The company has recognized a provision for impairment of RMB 28,681,000 in 2024, compared to RMB 24,872,000 in 2023, reflecting an increase of approximately 15.5%[doc id='37']. Corporate Governance and Compliance - The company has adopted and complied with the corporate governance code as per the listing rules, with the exception of the chairman's absence at the annual general meeting due to other commitments[95]. - All directors confirmed compliance with the standard code of conduct for securities trading for the year ending December 31, 2024[96]. - The audit committee consists of three independent non-executive directors, with Mr. Jiang Senlin serving as the chairman[97]. - The company has engaged external compliance and legal advisors to ensure all transactions comply with applicable laws and regulations[99]. - The financial figures in the preliminary announcement for the year ending December 31, 2024, have been reviewed by the auditors and are consistent with the audited financial statements[100]. Future Plans and Strategic Initiatives - The company plans to enhance the efficiency of energy storage stations in the Chabei management area through technological innovation and refined operations, aiming to develop benchmark projects in the industry[52]. - The company will actively explore strategic partnerships in various sectors, including electric vehicles and green building projects, to promote the integration of renewable energy[54]. - The company aims to expand its operations and maintenance services beyond North China, enhancing service quality and efficiency through advanced technology and management experience[54]. - The company will increase investment in energy storage technology research and development, collaborating with research institutions to explore new storage technologies such as solid-state and flow batteries[52]. - The company recognizes the importance of social responsibility and aims to create more value for society while contributing to the global carbon neutrality goal[55]. - The company will seek opportunities for cooperation, development, or acquisition in new clean energy sectors beyond wind power, aiming to build a diversified and complementary energy structure[54]. - The company anticipates that energy storage will play a crucial role in addressing the intermittency and volatility of renewable energy generation, enhancing energy utilization efficiency and stability[52]. Share and Bond Issuance - The company agreed to issue new convertible bonds with a principal amount of HKD 356,375,000, which will mature in 2025 and carry an interest rate of 10%[75]. - If the new convertible bonds are fully converted, a total of 1,979,861,111 new shares will be issued, representing approximately 100.04% of the company's issued share capital as of the agreement date[76]. - The company has conditionally agreed to issue 590,615,905 new shares and convertible bonds with a principal amount of RMB 933,689,137, with a total consideration of approximately HKD 115.8 million and HKD 1,016.7 million respectively[81]. - The company has conditionally agreed to issue 119,437,859 new shares and convertible bonds with a principal amount of HKD 161,701,291, with a total consideration of HKD 23,409,820 and HKD 161,701,291 respectively[82]. - The company has conditionally agreed to issue HKD 98 million convertible bonds to TradArt Flagship Investment SPC for raising additional funds[83]. - The company plans to acquire a 50% stake in Hebei Jiaotou Deneng Energy Co., Ltd. for a consideration not exceeding RMB 7.5 million (approximately HKD 8.2 million)[83]. - The company aims to upgrade its power generation units and invest in new equipment and potential opportunities using the funds raised from the share subscription and convertible bond agreements[84].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 173,602,000, a decrease of 9% compared to RMB 190,165,000 for the same period in 2023[7]. - Gross profit for the same period was RMB 64,580,000, down 8% from RMB 70,228,000 in 2023[7]. - Operating profit decreased by 13% to RMB 56,385,000 from RMB 64,711,000 year-on-year[7]. - The net loss for the period was RMB 21,844,000, compared to a loss of RMB 21,080,000 in the previous year, representing a 4% increase in losses[7]. - Revenue from wind farm operations was approximately RMB 171,128,000, a decrease of about 10% from RMB 190,165,000 in the same period last year[11]. - The group recorded a loss of approximately RMB 21,844,000 for the reporting period, compared to a loss of RMB 21,080,000 for the same period last year, attributed to decreased electricity generation and sales[22]. - Basic and diluted loss per share for the period was RMB (0.022), compared to a restated loss of RMB (0.041) for the same period last year[80]. - The company reported a loss attributable to owners of the company of RMB (36,818,000) for the six months ended June 30, 2024, compared to RMB (29,431,000) in the previous year, representing an increase in loss of approximately 25.2%[117]. Revenue and Sales - Revenue from wind power operations was approximately RMB 171,128,000, down about 10% from RMB 190,165,000 in the same period last year, primarily due to a decrease in electricity generation and sales[15]. - The revenue from external customers for the six months ended June 30, 2024, was RMB 173,602 thousand, a decrease of 8.7% compared to RMB 190,165 thousand for the same period in 2023[109]. - The company reported a significant customer (Customer A) contributing over 10% of total revenue, with contributions of RMB 171,128 thousand for the six months ended June 30, 2024, down from RMB 190,165 thousand in the previous year[108]. Expenses and Costs - Administrative expenses increased by approximately 20% to about RMB 22,469,000, compared to RMB 18,700,000 for the same period last year[19]. - Total operating expenses for the six months ended June 30, 2024, amounted to RMB 131,491 thousand, a decrease of 5.8% from RMB 138,637 thousand in the same period of 2023[112]. - The total employee costs for the reporting period amounted to approximately RMB 24,686,000, compared to RMB 22,875,000 for the six months ended June 30, 2023[44]. - Interest expenses for bank loans and other loans decreased to RMB 63,765,000 from RMB 72,376,000, representing a reduction of approximately 11.1% year-over-year[114]. Assets and Liabilities - Total assets decreased from RMB 1,865,469 thousand as of December 31, 2023, to RMB 1,755,965 thousand as of June 30, 2024, representing a decline of approximately 5.9%[82]. - Total liabilities decreased from RMB 1,653,481 thousand to RMB 1,587,677 thousand, reflecting a decrease of approximately 4%[83]. - The company's borrowings decreased from RMB 1,238,293 thousand to RMB 807,603 thousand, a reduction of about 34.8%[83]. - The company's cash and cash equivalents decreased from RMB 385,512 thousand to RMB 244,468 thousand, a decline of approximately 36.6%[82]. Financing Activities - The company issued convertible bonds totaling HKD 313,795,000 with an interest rate of 8% and a conversion price of HKD 0.485 per share[32]. - A new convertible bond was issued for HKD 356,375,000 with an interest rate of 10% and a conversion price of HKD 0.18 per share, potentially increasing the issued share capital by approximately 100.04%[33]. - The company raised approximately HKD 229.9 million through a rights issue, issuing 1,277,353,730 shares at a subscription price of HKD 0.18 per share[35]. - The company plans to issue 590,615,905 new shares and RMB 933,689,137 in convertible bonds, raising approximately HKD 115.8 million and HKD 1,016.7 million respectively[45]. Strategic Initiatives - The company aims to accelerate its wind power business and seek new development opportunities in the renewable energy sector[9]. - The company plans to leverage national policy reforms to enhance development quality and profitability in the renewable energy sector[8]. - The company aims to become a pillar in the renewable energy sector in northern China, focusing on wind power and exploring opportunities in hydrogen energy[53]. - The company will continue to seek acquisition opportunities in mature power plants to enhance its operational capabilities in North China[53]. Cash Flow - Cash flow from operating activities showed a net cash inflow of RMB 20,635 thousand for the six months ended June 30, 2024, compared to RMB 54,897 thousand for the same period in 2023, indicating a decrease of approximately 62.5%[86]. - The net decrease in cash and cash equivalents for the six months ended June 30, 2024, was RMB (141,936) thousand, a significant increase from RMB (52,561) thousand in the prior year, reflecting a rise of approximately 169.5%[87]. Corporate Governance - The company has complied with the corporate governance code as per the listing rules during the reporting period[62]. - The company maintained a public float of at least 25% of its total issued share capital during the reporting period[75].

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of RMB 173,602,000, a decrease of 8.7% compared to RMB 190,165,000 for the same period in 2023[2] - Gross profit for the same period was RMB 64,580,000, down from RMB 70,228,000, reflecting a gross margin decline[2] - Operating profit decreased to RMB 56,385,000 from RMB 64,711,000, indicating a decline of 12.8% year-over-year[2] - The company incurred a net loss of RMB 21,844,000, slightly higher than the loss of RMB 21,080,000 in the previous year[2] - Basic and diluted loss per share for the period was RMB 0.022, compared to a restated loss of RMB 0.041 for the same period last year[2] - The company reported a total of RMB 582,067,000 in current trade and other receivables as of June 30, 2024, an increase from RMB 520,211,000 at the end of 2023[17] - The company recorded a loss of approximately RMB 21,844,000 for the reporting period, compared to a loss of RMB 21,080,000 for the same period in 2023[31] - The reported loss for the period was approximately RMB 21,844,000, compared to a loss of RMB 21,080,000 in the same period last year, primarily attributed to decreased electricity generation and sales[39] Revenue Breakdown - Revenue from electricity sales was RMB 125,113,000, down from RMB 139,018,000, reflecting a decline in sales volume[7] - For the six months ended June 30, 2024, revenue from wind farm operations was approximately RMB 171,128,000, a decrease of about 10% compared to RMB 190,165,000 for the same period in 2023[28] - The company's total revenue for the reporting period was approximately RMB 173,602,000, down from RMB 190,165,000 for the six months ended June 30, 2023, representing a decrease of about 8%[31] - The group's revenue from wind power operations was approximately RMB 171,128,000, a decrease of about 10% compared to RMB 190,165,000 in the same period last year, primarily due to reduced electricity generation and sales[32] Expenses and Costs - For the six months ended June 30, 2024, the total sales and administrative expenses amounted to RMB 131,491,000, a decrease of 5.8% from RMB 138,637,000 for the same period in 2023[8] - Interest expenses on bank loans and other loans decreased to RMB 26,810,000, down 27.5% from RMB 37,042,000 in the previous year[9] - The income tax expense for the six months ended June 30, 2024, was RMB 14,446,000, an increase of 10.4% compared to RMB 13,089,000 for the same period in 2023[10] - Administrative expenses increased by approximately 20% to about RMB 22,469,000, compared to RMB 18,700,000 in the same period last year[36] - Financing costs for the reporting period were approximately RMB 63,765,000, a decrease from RMB 72,376,000 in the same period last year, mainly due to reduced interest expenses from other loans[37] - The tax expense increased from approximately RMB 13,089,000 to about RMB 14,446,000 due to an increase in taxable profits[38] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 1,755,965,000, down from RMB 1,865,469,000 at the end of 2023[4] - Total liabilities decreased to RMB 1,587,677,000 from RMB 1,653,481,000, showing a reduction of 4%[5] - Cash and cash equivalents decreased to RMB 244,468,000 from RMB 385,512,000, indicating a significant cash outflow[4] - The company’s total borrowings amounted to RMB 1,470,802,000 as of June 30, 2024, down from RMB 1,519,535,000 as of December 31, 2023[25] - The group's capital debt ratio was approximately 90% as of June 30, 2024, compared to about 89% at the end of the previous year, calculated as total liabilities divided by total assets[41] Shareholder Actions and Fundraising - The company did not recommend any interim dividend for the reporting period, consistent with the previous year[12] - The company raised approximately HKD 229.9 million through a rights issue, with a net amount of about HKD 211.0 million after expenses[48] - A total of 1,187,403,730 shares were issued during the rights issue, with a conversion ratio of 2 existing shares for 5 new shares[48] - The net proceeds from the rights issue are allocated for debt repayment, future business development, and general working capital[49] - The company plans to issue 590,615,905 new shares and RMB 933,689,137 convertible bonds, raising approximately RMB 1,020 million for upgrading power generation equipment and operational funding[56] Strategic Plans and Future Outlook - The company plans to continue focusing on renewable energy projects and expanding its market presence in the coming periods[1] - The company has ongoing construction for the first phase of the Baotou Silver Wind project, which is expected to contribute to future revenue[30] - The company aims to become a pillar in the renewable energy sector in Northern China, focusing on wind power and exploring opportunities in hydrogen energy[60] - The company plans to strengthen its operations in existing wind farms and expand maintenance services to surrounding areas[60] - The company will seek to raise funds in the capital market to support future development projects[60] Employee and Operational Metrics - The company’s employee benefit costs, including directors' remuneration, rose to RMB 24,686,000, an increase of 7.9% from RMB 22,875,000 in the previous year[8] - The total employee cost for the reporting period was approximately RMB 24,686,000, an increase from RMB 22,875,000 for the six months ended June 30, 2023[56] - The company has 140 full-time employees as of June 30, 2024, up from 136 employees as of December 31, 2023[56] - The average utilization hours for the Hong Song wind farm were approximately 969 hours for the six months ended June 30, 2024, compared to 1,063 hours for the same period in 2023[29] Compliance and Governance - The company has complied with the corporate governance code as per the listing rules during the reporting period[61] - The audit committee reviewed the unaudited financial performance of the group during the reporting period[65]

Fund Utilization - The net proceeds from the issuance of the 2023 convertible bonds amounted to HKD 19.4 million, with actual uses including HKD 13.4 million for loan repayment and HKD 6 million for general working capital [1]. - The anticipated timeline for the unused net proceeds from the rights issue includes HKD 92 million for bond repayment by December 2024 and HKD 70 million for note repayment by June 2024 [2]. - Future business development is projected to utilize HKD 27.8 million, with an expected actual use of HKD 1 million by June 2024 [2]. - The total expected use of proceeds from the rights issue is HKD 211 million, with actual uses amounting to HKD 113.7 million and remaining HKD 97.3 million [2].

報告期間確認 管理層討論及分析 中國瑞風新能源控股有限公司 16 於二零一七年十二月十二日，本公司與所有票據持有人訂立一份修訂契據（「修訂契據」），將可換股票據的到期 日由二零一七年十二月十五日延長至二零一九年六月十五日。除延長到期日外，可換股票據的所有其他條款及 條件維持不變。修訂契據已於二零一七年十二月十五日香港聯合交易所有限公司（「聯交所」）批准上市後成為無 條件契據。 管理層討論及分析 承德利保 根據該框架協議，本集團作為投資方負責為該等項目提供資金，而北辰電網負責前期工作，包括利用自身人力 資源、開展項目區域評估工作及營銷規劃。因此，本集團支付首期按金以支持該等項目。然而，由於該等項目 未能獲中國地方政府批准，而無法繼續進行。於報告期間，鑒於本集團的最新發展計劃，本集團以書面形式通 知北辰電網終止與北辰電網的未來合作，並要求北辰電網全額償還按金。 融資成本 於截至二零二三年十二月三十一日止年度，本公司向投資者發行本金額3,000,000港元的額外公司債券（「公司債 券」）。本金額37,895,000港元的公司債券於截至二零二三年十二月三十一日止年度已到期及贖回（截至二零二二 年十二月三十一日止年度： ...

Financial Performance - For the year ended December 31, 2023, the company reported total revenue of RMB 343,811,000, an increase of 12.9% from RMB 304,443,000 in 2022[3] - The gross profit for the same period was RMB 125,962,000, representing a significant increase of 96.5% compared to RMB 64,114,000 in the previous year[3] - The operating profit surged to RMB 72,098,000, compared to only RMB 992,000 in 2022, indicating a substantial improvement in operational efficiency[3] - The company recorded a net loss of RMB 94,773,000 for the year, which is a 41.6% reduction from the net loss of RMB 162,020,000 in 2022[5] - Revenue from electricity sales increased to RMB 251,163 thousand in 2023, up from RMB 220,602 thousand in 2022, reflecting a growth of about 13.8%[41] - Revenue from wind farm operations for the year ended December 31, 2023, was approximately RMB 342,744,000, an increase of about 15% compared to RMB 298,870,000 for the year ended December 31, 2022[99] - The gross profit for the year ended December 31, 2023, was approximately RMB 125,962,000, with a gross margin of 37%, compared to RMB 64,114,000 and a gross margin of 21% in 2022[141] - The net loss for the year ended December 31, 2023, was RMB 94,773,000, a reduction of 42% from RMB 162,020,000 in the previous year[171] Assets and Liabilities - Total assets decreased to RMB 1,865,469,000 from RMB 2,008,215,000, reflecting a decline of 7.1% year-over-year[13] - Total liabilities decreased from RMB 1,893,058 thousand in 2022 to RMB 1,653,481 thousand in 2023, representing a reduction of approximately 12.7%[24] - The company’s equity attributable to owners increased to RMB 211,988,000 from RMB 115,157,000, showing a significant improvement in financial stability[13] - The company’s total equity and liabilities amounted to RMB 1,865,469 thousand in 2023, down from RMB 2,008,215 thousand in 2022, a decrease of approximately 7.1%[24] - The company’s borrowings decreased from RMB 1,400,619 thousand in 2022 to RMB 1,238,293 thousand in 2023, a reduction of about 11.6%[24] - The company reported a year-end balance of RMB 297,256,000 in accounts receivable, an increase from RMB 281,075,000 at the end of 2022[90] - The average trade payables increased to RMB 107,713,000 in 2023 from RMB 151,366,000 in 2022, indicating a decrease in liabilities[118] Cash Flow and Financing - The company’s cash and cash equivalents stood at RMB 385,512,000, down from RMB 420,843,000 in the previous year, a decrease of 8.4%[13] - The company plans to raise funds in the capital market to support future development projects and strengthen internal management and risk control[108] - The total amount of loans receivable from independent third parties was approximately RMB 127,775,000 in 2023, down from RMB 136,790,000 in 2022[96] - Financing costs for the year ended December 31, 2023, were approximately RMB 142,755,000, a slight decrease from RMB 156,469,000 in 2022 due to lower interest rates on new loans[170] - The company issued additional corporate bonds with a principal amount of HKD 3,000,000 during the year ended December 31, 2023[148] - The company has fully repaid the principal amount of HKD 64,751,000 of bonds that were outstanding as of December 31, 2022[154] Business Strategy and Development - The company is actively pursuing opportunities in the wind power sector, capitalizing on favorable government policies aimed at promoting renewable energy[11] - The company plans to leverage the anticipated growth in the wind power industry to achieve rapid business expansion in the coming years[11] - The company plans to focus on the development and operation of various forms of renewable energy, aiming to establish a leading position in the renewable energy sector in northern China[106] - The company will explore new business models such as wind power + energy storage and wind power + hydrogen to expand its business boundaries and enhance market competitiveness[106] - The company aims to optimize the layout of wind farms and improve the performance and efficiency of wind power equipment to achieve higher electricity generation and better economic benefits[106] - The group aims to expand its renewable energy resources, focusing on wind power while exploring opportunities in other clean energy sectors[109] - The group plans to actively seek partnerships for the development or acquisition of projects in solar and biomass energy, aiming for a diversified energy structure[132] - The group is exploring hydrogen energy-related businesses, including hydrogen vehicle production and hydrogen station construction[133] Shareholder Information - The weighted average number of ordinary shares issued increased to 1,100,066,000 shares in 2023 from 663,067,000 shares in 2022, reflecting a significant increase in share capital[66] - The basic loss per share improved to RMB (0.099) in 2023 from RMB (0.236) in 2022, indicating a reduction in losses per share[66] - The company increased its authorized share capital from HKD 100 million to HKD 500 million by consolidating 8 billion shares at a par value of HKD 0.05 each, effective from July 6, 2023[191] - The rights issue completed on August 22, 2023, resulted in the issuance of 1,187,403,730 shares at a subscription price of HKD 0.18 per share, raising approximately HKD 211 million net of expenses[192] - The company granted 179,900,000 share options at an exercise price of HKD 0.18 per share, with adjustments made post-consolidation and rights issue, resulting in 59,295,040 shares at an exercise price of HKD 0.546[194] Operational Efficiency - The average days sales outstanding decreased to 177 days from 289 days in the previous year, indicating improved efficiency in receivables collection[162] - The current ratio improved to 222% as of December 31, 2023, compared to 189% in 2022[162] - The cost of sales for the year ended December 31, 2023, was approximately RMB 217,849,000, which accounted for about 63% of total revenue, down from 79% in 2022[165] - The company has recognized a provision for impairment of trade receivables amounting to RMB 2,030,000 for both 2023 and 2022, indicating consistent risk management practices[77] Social Responsibility - The group emphasizes its commitment to social responsibility and aims to contribute to the global carbon neutrality goal[135]

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。 CHINA RUIFENG RENEWABLE ENERGY HOLDINGS LIMITED 中 國 瑞 風 新 能 源 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：00527） 有關截至二零二二年十二月三十一日止年度的年報的補充資料 茲提述中國瑞風新能源控股有限公司（「本公司」）日期為二零二三年三月 三十一日的截至二零二二年十二月三十一日止年度之年報（「二零二二年年報」） 以及本公司日期為二零二一年十一月二十九日及二零二一年十二月十日的公 告（「該等公告」），內容有關（其中包括）提供財務資助。除文義另有所指外，本 公告所用詞彙將與二零二二年年報及該等公告所界定者具有相同涵義。 除二零二二年年報所提供的資料外，董事會謹此向股東及本公司潛在投資者 提供下列有關應收貸款及其他應收款項的進一步資料： ...

Financial Performance - The company reported a net loss attributable to owners of RMB 129,715 thousand for the six months ended June 30, 2023, compared to a loss of RMB 91,787 thousand for the same period in 2022[8]. - For the six months ended June 30, 2023, total revenue was RMB 962,944 thousand, a decrease of 8.9% compared to RMB 1,057,240 thousand for the same period in 2022[62]. - The company reported a basic loss per share for the period, calculated based on the loss attributable to shareholders divided by the weighted average number of ordinary shares in issue[74]. - The company reported a loss attributable to owners of the company of RMB 29,431,000, compared to a loss of RMB 38,065,000 for the same period in 2022[108]. - Basic loss per share improved to RMB (0.014) for the six months ended June 30, 2023, compared to RMB (0.019) for the same period in 2022[108]. - The loss for the reporting period was approximately RMB 21,080,000, an improvement from a loss of RMB 39,453,000 in the same period of 2022, primarily due to increased electricity generation and sales[189][197]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 1,940,091 thousand, a decrease of 3.4% from RMB 2,008,215 thousand as of December 31, 2022[7]. - Total liabilities decreased to RMB 1,851,662 thousand as of June 30, 2023, compared to RMB 1,893,058 thousand as of December 31, 2022, reflecting a reduction of 2.2%[8]. - The total equity attributable to the owners of the company was RMB 88,429 thousand as of June 30, 2023, down from RMB 115,157 thousand as of December 31, 2022, indicating a decline of 23.2%[8]. - Non-current assets, including property, plant, and equipment, totaled RMB 808,628 thousand as of June 30, 2023, compared to RMB 878,931 thousand as of December 31, 2022, representing a decrease of 7.9%[7]. - Current assets increased slightly to RMB 912,096 thousand as of June 30, 2023, from RMB 905,924 thousand as of December 31, 2022, showing a growth of 0.2%[7]. - The company’s total liabilities to total assets ratio was approximately 95.4% as of June 30, 2023, indicating a high level of leverage[8]. - Total borrowings of the group as of June 30, 2023, were approximately RMB 1,692,276,000, a decrease of about RMB 30,794,000 from RMB 1,723,070,000 as of December 31, 2022[172]. Revenue and Sales - Major customer A contributed RMB 190,165 thousand in revenue for the six months ended June 30, 2023, up from RMB 175,454 thousand in the same period of 2022, representing an increase of 8.9%[63]. - The company has recognized revenue from power sales of RMB 139,018,000 and electricity price subsidies of RMB 51,147,000 for the six months ended June 30, 2023, compared to RMB 127,025,000 and RMB 48,429,000 in the same period of 2022[84]. - Revenue from wind power business for the six months ended June 30, 2023, was approximately RMB 190.165 million, an increase of about 8% compared to RMB 175.454 million for the same period in 2022[120]. - The company's revenue for the first half of 2023 was approximately RMB 190,165,000, an increase of 6% compared to RMB 179,744,000 in the same period of 2022[189]. - Operating revenue from wind farm operations was approximately RMB 190,165,000, an increase of about 8% from RMB 175,454,000 in the same period of 2022[190]. Expenses and Costs - The cost of sales and administrative expenses totaled RMB 138,637 thousand for the six months ended June 30, 2023, compared to RMB 148,423 thousand for the same period in 2022, indicating a decrease of 6.0%[68]. - Interest expenses on bank loans and other loans were RMB 37,042 thousand for the six months ended June 30, 2023, down from RMB 53,442 thousand in the same period of 2022, reflecting a reduction of 30.6%[71]. - Administrative expenses decreased by approximately 13% to about RMB 18,700,000, compared to RMB 21,420,000 in the same period of 2022[193]. - Sales costs for the reporting period were approximately RMB 119,937,000, accounting for about 63% of the group's revenue, compared to approximately 71% in the same period of 2022[164]. - Tax expenses increased from approximately RMB 7,776,000 in the first half of 2022 to about RMB 13,089,000 in the reporting period due to increased taxable profits from the Hong Song project[196]. Strategic Initiatives - The company plans to continue its market expansion and product development strategies to enhance future performance[16]. - The company aims to enhance development quality and efficiency, striving for large scale, significant market share, and strong profitability and competitiveness in the renewable energy sector[157]. - The company is positioned to benefit from increased policy support for the clean energy sector as part of China's strategic initiatives in the 14th Five-Year Plan[157]. - The company plans to focus resources on accelerating the development of its wind power business and seeks new development opportunities in the renewable energy sector[184]. - The company aims to secure a solid market position in the renewable energy industry in the near future[184]. Cash and Financial Assets - The cash and cash equivalents as of June 30, 2023, were RMB 370,071 thousand, a decrease from RMB 420,843 thousand as of December 31, 2022, reflecting a decline of 12.0%[7]. - The company’s financial assets at fair value through profit or loss remained stable at RMB 4,260 thousand as of June 30, 2023, unchanged from December 31, 2022[36]. - The company has issued and outstanding bonds amounting to approximately HKD 147,504,000 and HKD 151,311,000 as of June 30, 2023, and December 31, 2022, respectively[175]. - The company issued convertible bonds totaling HKD 19.54 million, with a conversion price of HKD 0.06 per share, maturing in 2026[135]. - The company is currently negotiating with noteholders regarding the settlement of the remaining balance of the notes[123]. Operational Highlights - The company has one operating segment, which is the generation of wind power using wind turbine blades in China, with no further segment analysis presented[61]. - The company has a wind power plant under construction in Baotou, Inner Mongolia, with a first phase project capacity of 49.8 MW, expected to contribute to future revenues[160]. - The average utilization hours of the Hebei Hongsong Wind Power Plant were approximately 1,063 hours and 996 hours for the six months ended June 30, 2023, and June 30, 2022, respectively[160]. - The company recorded property, plant, and equipment acquisitions of approximately RMB 537,000,000 and disposals of approximately RMB 65,000,000 for the six months ended June 30, 2023, compared to RMB 1,094,000,000 and RMB 106,000,000 in 2022, respectively[99]. - The accounts receivable balance as of June 30, 2023, was approximately RMB 189,436,000, an increase from RMB 136,816,000 as of December 31, 2022[104].