Financial Performance - For the six months ended December 31, 2022, the revenue was approximately RMB 70,756,000, an increase of about 0.14% compared to RMB 70,654,000 for the same period in 2021[2]. - The operating loss for the same period was approximately RMB 3,073,000, compared to an operating loss of RMB 1,962,000 in the prior year[2]. - The net loss attributable to the company's owners for the six months ended December 31, 2022, was approximately RMB 3,087,000, compared to RMB 1,997,000 in the previous year[2]. - Basic and diluted loss per share for the period was RMB 0.30, compared to RMB 0.19 for the same period in 2021[6]. - Gross profit for the six months was RMB 18,937,000, down from RMB 21,395,000 in the same period last year[6]. - The company reported a total comprehensive loss of RMB 3,087,000 for the six months ended December 31, 2022, compared to a loss of RMB 35,884,000 for the year ended June 30, 2022[20]. - The group recorded a gross profit of approximately RMB 18,937,000, down from RMB 21,395,000 in the same period last year, primarily due to increased employee costs[56]. - The group reported a loss attributable to owners of the company of approximately RMB 3,087,000, compared to RMB 1,997,000 in the same period last year[60]. Cash Flow and Assets - As of December 31, 2022, total equity was approximately RMB 1,738,248,000[2]. - The total assets less current liabilities amounted to RMB 1,756,431,000 as of December 31, 2022[11]. - The cash and cash equivalents at the end of the period were RMB 1,437,390,000, a slight increase from RMB 1,422,284,000 at the end of the previous year[15]. - The net increase in cash and cash equivalents for the period was RMB 3,722,000, compared to RMB 4,164,000 in the prior year, indicating a decline of 10.6%[15]. - The total unallocated corporate assets amounted to RMB 1,523,108 thousand, slightly increasing from RMB 1,510,123 thousand as of June 30, 2022[35]. - Total assets as of December 31, 2022, were RMB 1,811,707 thousand, a decrease from RMB 1,821,676 thousand as of June 30, 2022, reflecting a decline of about 0.55%[35]. Revenue Sources - Total revenue from the sale of automation instruments and technical products was RMB 67,284,000, slightly down from RMB 69,050,000 in the previous year, representing a decrease of 2.6%[21]. - The revenue from entrusted processing services increased significantly to RMB 3,472,000 from RMB 1,250,000, marking a growth of 178.0%[21]. - The company did not report any revenue from the sale of watch instruments during the current period, compared to RMB 354,000 in the previous year[21]. - The sales of clock instruments were approximately RMB 0, with a reported loss of about RMB 4,416,000, compared to RMB 5,791,000 in the same period last year[50]. Expenses and Costs - Employee costs for the six months ended December 31, 2022, amounted to RMB 18,959,000, slightly increasing from RMB 18,163,000 in the previous year[26]. - The cost of sales and services for the six months ended December 31, 2022, was RMB 51,819,000, an increase from RMB 49,259,000 in the previous year[26]. - Research and development expenses recognized as costs were RMB 2,691,000 for the current period, compared to RMB 2,786,000 in the previous year[26]. - Depreciation of property, plant, and equipment was RMB 11,440,000 for the six months ended December 31, 2022, down from RMB 11,875,000 in the prior year[26]. Dividends and Shareholder Returns - The company did not recommend any interim dividend for the six months ended December 31, 2022, consistent with the previous year[2]. - The group did not approve or pay any dividends during the reporting period, maintaining a dividend of RMB 0 per share[39]. - The board does not recommend any interim dividend for the six months ended December 31, 2022[79]. Corporate Governance and Compliance - The group has complied with all major provisions of the Corporate Governance Code during the period, except for a specific deviation noted[91]. - The company has adopted a standard code for securities trading by directors, ensuring compliance throughout the reporting period[93]. - The remuneration committee consists of three independent non-executive directors, responsible for proposing remuneration policies for directors and senior management[96]. - The nomination committee has been established since 2008, reviewing board structure and diversity at least annually[98]. - The audit committee, also established in 2008, provides independent opinions on financial reporting systems and risk management[99]. - The audit committee reviewed the unaudited interim results for the six months ending December 31, 2022, ensuring compliance with relevant accounting standards[100]. Future Outlook and Plans - The group has no significant expansion plans due to global market instability, and future development plans will be approached cautiously[52]. - The group has no significant future investment or capital asset plans as of December 31, 2022[72]. - The group plans to utilize approximately HKD 652,000,000 for the construction of production facilities for new products, HKD 194,000,000 for R&D, HKD 45,000,000 for network development and sales support services, and HKD 4,000,000 for information system development[74]. Employment and Staff - As of December 31, 2022, the group employed a total of 477 staff, an increase from 467 on June 30, 2022, with employee costs amounting to approximately RMB 18,959,000[70]. - Management compensation for the six months ended December 31, 2022, was RMB 1,488 thousand, an increase from RMB 1,418 thousand in the same period of 2021, reflecting a growth of about 4.9%[44]. Debt and Liabilities - The group has no bank loans as of December 31, 2022, maintaining a low debt ratio of approximately 0.04[63][65]. - The group has no significant contingent liabilities as of December 31, 2022[78].

Financial Performance - The company's revenue for the fiscal year ended June 30, 2022, was approximately RMB 138,344,000, an increase of 8.0% compared to RMB 128,079,000 in the previous year[5] - The operating loss for the year was RMB 35,273,000, representing a 30.5% increase from RMB 27,024,000 in the prior year[5] - The loss attributable to shareholders was RMB 35,884,000, up 38.5% from RMB 25,900,000 in the previous year[5] - The gross profit for the year was approximately RMB 32,441,000, a significant increase of 196.5% compared to the previous year[10] - The group's revenue for the year was approximately RMB 138,344,000, representing an increase of about 8.0% compared to RMB 128,079,000 in the previous year[21] - Gross profit for the year was approximately RMB 32,441,000, up from RMB 10,941,000 in the previous year, while operating loss was approximately RMB 35,273,000 compared to RMB 27,024,000 in the previous year[22] - The automation instruments and technology products segment recorded a gross profit of approximately RMB 32,778,000, significantly higher than RMB 11,048,000 in the previous year due to increased sales and effective cost reduction measures[22] - Basic and diluted loss per share for the year was RMB 3.46, compared to RMB 2.50 in the previous year[28] Assets and Liabilities - The net asset value at year-end was approximately RMB 1,739,997,000, a decrease of 2.0% from RMB 1,774,929,000 in the previous year[5] - As of June 30, 2022, the group had cash and cash equivalents of approximately RMB 1,433,668,000, slightly up from RMB 1,418,120,000 in the previous year[29] - The group had no bank loans as of June 30, 2022, maintaining a debt ratio of approximately 0.05[30][32] Market and Product Segments - Sales from the high-precision industrial automation instruments and technology products segment were approximately RMB 134,768,000, accounting for 97.4% of total revenue[15] - The clock and watch instruments segment reported sales of approximately RMB 3,576,000, representing 2.6% of total revenue, down from 4.3% in the previous year[16] Corporate Strategy and Development - The company has no major expansion plans due to global market instability, and future development plans will be approached cautiously[19] - The company continues to focus on research and development, maintaining advanced technical standards and product quality in the automation instruments industry[10] - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[63] Governance and Management - The company has maintained compliance with most of the corporate governance code provisions as outlined in the Listing Rules, emphasizing accountability and transparency[66] - The company’s management team has extensive experience, with key members having over 23 years in accounting and financial reporting[58] - The board consists of four executive directors and three independent non-executive directors, ensuring a balanced composition with relevant knowledge and experience[69] - The board held four meetings during the fiscal year, with all members attending every meeting, indicating strong engagement[74] - The company has adopted a standard code for securities trading by directors, which all directors confirmed compliance with for the year[68] Risk Management and Compliance - The company emphasizes the effectiveness of its risk management and internal control systems, which were reviewed annually by the board[116] - The audit committee provided independent opinions on the effectiveness of the financial reporting system and internal controls[105] - The company has established a framework for risk management to achieve business objectives and safeguard assets[117] Environmental and Social Responsibility - The company has a strong focus on corporate social responsibility, integrating it into its culture and values for sustainable development[128] - The company has established a comprehensive management manual covering quality, environment, and occupational health and safety, which includes 20 procedural documents[130] - The company has implemented a program to identify and evaluate environmental factors affecting its operations, ensuring compliance with relevant laws and regulations[132] - The company aims to reduce non-production related water usage by 10% to 15% over the next five years[152] - The company plans to decrease electricity consumption per production unit by 10% to 15% within the next five years[153] Employee Management and Training - The group employed a total of 467 staff as of June 30, 2022, with employee costs amounting to approximately RMB 38,276,000, up from RMB 34,720,000 in the previous year[41] - The total number of employees is 467, with 289 male and 178 female employees[166] - Employee turnover rate for males is 10.9% and for females is 15.9%[166] - The company has maintained strict compliance with labor laws, preventing child labor and forced labor throughout the year[188] - The average training hours for new employee onboarding in 2022 was 1,060 hours, a significant increase compared to previous years[184] Quality Assurance and Customer Support - The group has implemented a robust quality management system to monitor and ensure product reliability and safety[194] - The group received no complaints regarding product quality this year[197] - The company established a domestic free hotline service for end-users to address inquiries and complaints, enhancing customer support[196]

Financial Performance - The company's revenue for the six months ended December 31, 2021, was approximately RMB 70,654,000, an increase of about 32.5% compared to RMB 53,326,000 for the same period in 2020[3] - Operating loss for the same period was approximately RMB 1,962,000, significantly reduced from RMB 13,535,000 in the prior year[3] - Net loss attributable to shareholders for the six months was approximately RMB 1,997,000, down from RMB 13,603,000 in the previous year[3] - Basic and diluted loss per share for the period was RMB 0.19, compared to RMB 1.31 for the same period in 2020[3] - Gross profit for the period was RMB 21,395,000, compared to RMB 624,000 in the same period last year[8] - The company reported a net loss of RMB 2,841,000 in total comprehensive income for the period, compared to RMB 18,387,000 in the previous year[11] - Total comprehensive expenses amounted to RMB 32,789,000 for the six months ending December 31, 2021[16] - Reported segment revenue for the six months ended December 31, 2021, was RMB 70,654,000, an increase from RMB 53,326,000 in the same period of 2020, representing a growth of approximately 32.5%[45] - The net loss attributable to shareholders for the period was approximately RMB 1,997,000, a significant improvement from RMB 13,603,000 in the same period of 2020[73] Cash Flow and Assets - Operating cash flow for the six months ending December 31, 2021, was RMB 2,603,000, a significant improvement from a cash outflow of RMB 28,689,000 in the previous year[18] - Cash and cash equivalents at the end of December 31, 2021, were RMB 1,422,284,000, compared to RMB 1,434,420,000 at the end of the previous year[18] - Total assets less current liabilities amounted to RMB 1,790,504,000 as of December 31, 2021[13] - The total accounts receivable as of December 31, 2021, was RMB 80,212,000, down from RMB 83,447,000 as of June 30, 2021[51] - The company reported a total of RMB 71,712,000 in accounts receivable, net of impairment losses, as of December 31, 2021, compared to RMB 75,240,000 as of June 30, 2021[51] - The total accounts payable as of December 31, 2021, was RMB 14,397,000, a decrease from RMB 20,696,000 as of June 30, 2021[53] Equity and Dividends - As of December 31, 2021, total equity attributable to shareholders was approximately RMB 1,772,088,000[3] - The company did not recommend any interim dividend for the six months ended December 31, 2021, consistent with the previous year[3] - As of December 31, 2021, the total equity attributable to shareholders decreased by approximately RMB 2,841,000 to about RMB 1,772,088,000 compared to RMB 1,774,929,000 as of June 30, 2021[78] Expenses and Costs - Employee costs for the six months ended December 31, 2021, were RMB 18,163,000, slightly down from RMB 18,264,000 in the same period of 2020, indicating a decrease of about 0.6%[28] - Depreciation of property, plant, and equipment for the six months ended December 31, 2021, was RMB 11,875,000, a significant decrease from RMB 19,914,000 in the same period of 2020, reflecting a reduction of approximately 40.3%[31] - Research and development expenses for the six months ended December 31, 2021, were RMB 2,786,000, compared to RMB 2,706,000 in the same period of 2020, showing an increase of about 2.9%[31] Market and Operational Strategy - The company continues to monitor market conditions and is focused on improving operational efficiency and expanding its market presence[45] - The group continues to focus on the production and expansion of high-precision industrial automation instruments and technical products[64] - The group aims to enhance product reliability and stability through improved process quality control and new product designs[62] - The group has no significant expansion plans due to global market instability, indicating a cautious approach to future development[67] Governance and Compliance - The audit committee reviewed the unaudited interim results for the six months ended December 31, 2021, and confirmed compliance with relevant accounting standards[115] - The company has adhered to all major provisions of the Corporate Governance Code, except for the deviation regarding the roles of the Chairman and CEO[106] - The remuneration committee consists of three independent non-executive directors, responsible for recommending remuneration policies for directors and senior management[111] - The nomination committee has been established since 2008, reviewing the board's structure and diversity at least annually[113] - The company has maintained a balanced board with three independent non-executive directors to ensure checks and balances[107] Other Financial Information - The company has no bank loans as of December 31, 2021, maintaining a stable capital structure[77] - The group recorded a net foreign exchange gain of RMB 839,000 for the six months ended December 31, 2021, compared to a loss of RMB 16,000 in the same period of 2020[26] - The group has no major contingent liabilities as of December 31, 2021[93] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[105]

Financial Performance - The company's revenue for the fiscal year ended June 30, 2021, was approximately RMB 128,079,000, an increase of 29.1% compared to RMB 99,206,000 in the previous year[6] - The operating loss for the year was RMB 27,024,000, a significant improvement from the previous year's loss of RMB 96,325,000, representing a decrease of 71.9%[6] - The loss attributable to shareholders was RMB 25,900,000, down 70.5% from RMB 87,940,000 in the prior year[6] - The basic and diluted loss per share was RMB 2.50, compared to RMB 8.48 in the previous year, reflecting a 70.5% reduction[6] - The gross profit for the year was approximately RMB 10,941,000, compared to a gross loss of approximately RMB 5,742,000 in the previous year[23] - The total equity attributable to shareholders decreased by approximately RMB 32,789,000 to about RMB 1,774,929,000 as of June 30, 2021[30] - The company reported a loss of approximately RMB 25,900,000 for the year, compared to a loss of approximately RMB 87,940,000 in the previous year[182] - The board of directors did not recommend any final dividend for the year, consistent with the previous year where no dividend was paid[181] Revenue Segmentation - Sales from the automation instruments and technology products segment were approximately RMB 122,511,000, accounting for about 95.7% of total revenue, compared to 93.8% in the previous year[16] - The sales from the clocks and instruments segment were approximately RMB 5,568,000, representing 4.3% of total revenue, down from 6.2% in the previous year[17] Cash and Assets - As of June 30, 2021, the company's cash and cash equivalents amounted to approximately RMB 1,418,120,000, a decrease from RMB 1,462,143,000 as of June 30, 2020[28] - The net asset value of the company was approximately RMB 1,774,929,000, a decrease of 1.8% from RMB 1,807,718,000 in the previous year[6] - The company had no bank borrowings as of June 30, 2021, consistent with the previous year[29] Future Plans and Development - The company plans to continue expanding its product line and improving specifications to capture new customers and markets[11] - There are no significant expansion plans due to global market instability, and the company will proceed cautiously with future development plans[19] - The company plans to utilize approximately HKD 711,000,000 for the construction of production facilities for new products and approximately HKD 129,000,000 for research and development[32] Corporate Governance - The company has maintained compliance with the majority of the corporate governance code as stipulated in the Listing Rules, emphasizing accountability and transparency[61] - The board of directors consists of four executive directors and three independent non-executive directors, ensuring a balanced composition with relevant knowledge and experience[64] - The board held three meetings during the fiscal year ending June 30, 2021, with all members attending each meeting[69] - The company has established corporate governance policies and regularly reviews compliance with legal and regulatory requirements[68] - The company is committed to maintaining high standards of corporate governance and regulatory compliance, aligning with best practices in the industry[61] Environmental and Social Responsibility - The company emphasizes its commitment to environmental, social, and governance (ESG) responsibilities, holding at least one board meeting annually to assess ESG risks and strategies[112] - The company has received ISO certifications for quality management (ISO 9001), environmental management (ISO 14001), and occupational health and safety management (OHSAS 18001), with the latest certifications valid until January 2022[114] - The company has established a waste management system to ensure compliance with national environmental standards, including the Environmental Protection Law of China[119] - The company is committed to continuous improvement in its environmental performance through preventive and control measures[115] Employee and Labor Practices - The company employed a total of 489 staff as of June 30, 2021, down from 529 staff in the previous year[39] - The total number of employees is 489, with 301 male and 188 female[149] - Employee turnover rate is 16% for males and 22.2% for females[150] - The company provided training to 810 employees, with 56.9% being male and 43.1% female[157] - The company has implemented safety and labor protection measures, ensuring a comfortable working environment[152] - The company adheres to all relevant labor laws and regulations, including social insurance and medical insurance plans[150] Supply Chain and Product Quality - The company has established relationships with over 100 independent suppliers located in China, ensuring a stable supply of raw materials and components[161] - The company has not faced any significant difficulties in obtaining sufficient supplies for production, indicating a robust supply chain[163] - The company has maintained compliance with all relevant laws and regulations regarding health, safety, and product quality, including the Consumer Rights Protection Law in China[164] Community Engagement - The company actively participates in community activities to understand local needs, including events celebrating the 100th anniversary of the Communist Party of China[173] - The company plans to continue engaging with local communities through various activities in the future[173]

Financial Performance - The company's revenue for the six months ended December 31, 2020, was approximately RMB 53,326,000, a decrease of about 19.3% compared to RMB 66,052,000 for the same period in 2019[3] - Operating loss for the same period was approximately RMB 13,535,000, improved from a loss of RMB 19,555,000 in the prior year[3] - Net loss attributable to shareholders for the six months was approximately RMB 13,603,000, compared to RMB 19,663,000 in the same period of 2019[3] - Basic and diluted loss per share for the period was RMB 1.31, compared to RMB 1.90 in the previous year[3] - Gross profit for the period was RMB 624,000, compared to RMB 177,000 in the same period of 2019[8] - The total comprehensive expenses for the six months ended December 31, 2020, amounted to RMB (18,387,000), compared to RMB (87,940,000) for the previous period, showing a reduction in losses[16] - The group recorded a net loss of RMB 13,603,000 for the six months ended December 31, 2020, compared to a net loss of RMB 19,663,000 for the same period in 2019, indicating a reduction in losses by 30.8%[36][37] Equity and Assets - As of December 31, 2020, total equity attributable to shareholders was approximately RMB 1,789,331,000[3] - The total equity as of December 31, 2020, was RMB 1,789,331,000, a decrease from RMB 1,894,356,000 as of June 30, 2019, reflecting a decline of approximately 5.5%[16] - Total assets less current liabilities amounted to RMB 1,808,500,000 as of December 31, 2020[13] - The overall total assets of the company were RMB 1,872,076,000 as of December 31, 2020, slightly down from RMB 1,884,652,000 as of June 30, 2020[45] Cash Flow - The net cash used in operating activities for the six months ended December 31, 2020, was RMB (28,689,000), compared to RMB (3,630,000) for the same period in 2019, indicating a significant increase in cash outflow[18] - The cash and cash equivalents at the end of the period were RMB 1,434,420,000, slightly down from RMB 1,438,804,000 at the end of 2019[18] - The net cash generated from investing activities for the six months ended December 31, 2020, was RMB 1,701,000, a decrease from RMB 4,510,000 in the same period of 2019[18] Revenue Sources - Revenue from the sale of automation instruments and technology products for the six months ended December 31, 2020, was RMB 52,638,000, down from RMB 61,055,000 in 2019, representing a decrease of approximately 13.3%[25] - Sales of high-precision industrial automation instruments and technical products amounted to approximately RMB 52,638,000, accounting for about 98.7% of total revenue, compared to 92.4% in the same period of 2019[61] Expenses and Liabilities - Research and development expenses decreased to RMB 2,706,000 from RMB 3,022,000, a decline of 10.5%[30] - The cost of sold inventory was RMB 52,702,000, down from RMB 65,875,000, representing a decrease of 20.0%[30] - Reportable segment liabilities rose to RMB 21,381,000 as of December 31, 2020, compared to RMB 15,502,000 as of June 30, 2020, indicating an increase of 37.9%[47] Dividends and Shareholder Information - The company did not recommend any interim dividend for the six months ended December 31, 2020, consistent with the previous year[3] - The company did not declare or pay any dividends during the interim period, consistent with the previous year where no dividends were paid[52] - As of December 31, 2020, the total number of issued shares was 1,037,500,000, with major shareholder Huang Xun Song holding approximately 36.89%[96] Government Grants and Taxation - The group received government grants amounting to RMB 1,118,000 during the reporting period, which was not recorded in the previous year[26] - The group did not incur any income tax liabilities for the period due to tax losses recorded, maintaining a tax rate of 15% for qualified high-tech enterprises[34] Corporate Governance - The audit committee reviewed the unaudited interim results for the six months ended December 31, 2020, and confirmed compliance with relevant accounting standards and regulations[114] - The company has complied with all major provisions of the Corporate Governance Code, except for the deviation regarding the roles of the Chairman and CEO[104][105] Future Outlook - The company continues to focus on enhancing its automation technology and expanding its market presence, although specific future product launches or technological advancements were not detailed in the report[43] - The company will closely monitor the developments of COVID-19 and assess its impact on business operations[66] - The group plans to continue monitoring industry developments and regularly review its business expansion plans[87]

中國高精密自動化集團有限公司 CHINA HIGH PRECISION AUTOMATION GROUP LIMITED ( 於 開 曼 群島 註冊 成 立 的 有 限 公 司 ) 股份代號: 591 Maza JNR 年 報 2019/2020 目錄 2 財務摘要 公司資料 3 主席報告 4 管理層討論與分析 5 董事及高級管理人員履歷 10 企業管治報告 13 24 環境、社會及管治報告 31 董事報告書 獨立核數師報告 38 綜合損益表 43 綜合損益及其他全面收益表 44 綜合財務狀況表 45 綜合權益變動表 47 綜合現金流量表 48 49 綜合財務報表附註 財務概要 120 財務摘要 | --- | --- | --- | --- | |----------------------|---------------------------|---------------------------|-------------------| | | 二零二零年 \n人民幣千元 | 二零一九年 \n人民幣千元 | 升幅╱（降幅） \n% | | | | | | | 營業額 | 99,206 | 132,22 ...

Financial Performance - The group's revenue for the six months ended December 31, 2019, was approximately RMB 66,052,000, a decrease of about 6.9% compared to RMB 70,924,000 for the same period in 2018[3]. - The operating loss for the six months ended December 31, 2019, was approximately RMB 19,555,000, compared to an operating loss of RMB 16,315,000 for the same period in 2018[3]. - The net loss attributable to shareholders for the six months ended December 31, 2019, was approximately RMB 19,663,000, compared to RMB 16,315,000 for the same period in 2018[3]. - Basic and diluted loss per share for the six months ended December 31, 2019, was RMB 1.90[3]. - Gross profit for the six months ended December 31, 2019, was RMB 177,000, compared to RMB 5,468,000 for the same period in 2018[8]. - Total comprehensive loss attributable to shareholders for the six months ended December 31, 2019, was RMB 18,381,000, compared to RMB 13,630,000 for the same period in 2018[11]. - The net loss for the six months ended December 31, 2019, was RMB 19,663,000, compared to a loss of RMB 47,482,000 for the previous period, indicating an improvement of approximately 58.7%[15]. - The total comprehensive income for the period was a loss of RMB 18,381,000, which is a significant reduction from the loss of RMB 44,996,000 in the prior period[15]. - The company reported a pre-tax loss of RMB 19,663,000 for the six months ended December 31, 2019, compared to a loss of RMB 16,315,000 for the same period in 2018, indicating an increase in losses of approximately 14.4%[59]. Equity and Dividends - As of December 31, 2019, total equity attributable to shareholders was RMB 1,875,975,000[3]. - The board of directors did not recommend any interim dividend for the six months ended December 31, 2019[3]. - The total equity amounted to RMB 1,875,975,000, a decrease from RMB 1,939,352,000 as of July 1, 2018, reflecting a decline of approximately 3.3%[15]. - The total equity attributable to shareholders decreased to RMB 674,237,000 as of December 31, 2019, from RMB 741,382,000 as of July 1, 2018, reflecting a decline of approximately 9.1%[15]. - The total equity attributable to shareholders decreased by approximately RMB 18,381,000 to about RMB 1,875,975,000 as of December 31, 2019, compared to RMB 1,894,356,000 as of June 30, 2019[108]. Cash Flow and Assets - Cash used in operating activities was RMB (3,630,000) for the six months ended December 31, 2019, an improvement from RMB (8,684,000) in the same period of 2018[17]. - The net cash generated from investing activities was RMB 4,510,000, slightly higher than RMB 4,362,000 in the previous year[17]. - The cash and cash equivalents at the end of the period were RMB 1,438,804,000, compared to RMB 1,434,889,000 at the end of the previous year, showing a slight increase[17]. - The total assets less current liabilities as of December 31, 2019, was RMB 1,896,210,000[13]. - The group's total assets were RMB 1,957,997,000 as of December 31, 2019, a slight decrease from RMB 1,974,112,000 as of June 30, 2019[75]. Sales and Revenue Breakdown - Sales of automation instruments and technical products amounted to RMB 61,055,000, down from RMB 69,216,000 in the previous year, representing a decline of 11.5%[46]. - Sales of clock instruments increased significantly to RMB 4,997,000 from RMB 1,708,000, marking a growth of 193.5%[46]. - The group reported other income of RMB 2,179,000, which includes bank interest income and rental income, compared to RMB 1,087,000 in the previous year, reflecting an increase of 100.5%[47]. - Reported segment revenue for the six months ended December 31, 2019, was RMB 66,052,000, a decrease of 6.6% from RMB 70,924,000 in the same period of 2018[73]. - Sales of high-precision industrial automation instruments and technical products amounted to approximately RMB 61,055,000, accounting for about 92.4% of total revenue, down from 97.6% in the same period last year[93]. Employee and Operational Costs - Employee costs decreased to RMB 19,094,000 in the first half of 2019 from RMB 22,150,000 in the same period of 2018, reflecting a reduction of about 13%[5]. - Research and development expenses were RMB 3,022,000 for the six months ended December 31, 2019, down from RMB 3,689,000 in the previous year, representing a decrease of approximately 18.1%[53]. - The depreciation of property, plant, and equipment was RMB 21,448,000 for the first half of 2019, slightly down from RMB 22,216,000 in the same period of 2018, a decrease of about 3.5%[53]. - The cost of goods sold was RMB 65,875,000 for the six months ended December 31, 2019, compared to RMB 65,456,000 in the same period of 2018, showing a marginal increase of about 0.6%[53]. Lease Accounting Changes - The company has adopted the new Hong Kong Financial Reporting Standard No. 16 "Leases," which came into effect on July 1, 2019, impacting the accounting treatment of leases[21]. - The total lease liabilities recognized on July 1, 2019, amounted to RMB 4,254,000, with current lease liabilities at RMB 1,724,000 and non-current lease liabilities at RMB 2,530,000[39]. - The impact of adopting HKFRS 16 resulted in a positive effect on the consolidated income statement compared to the previous accounting policy, as the group now recognizes interest expenses on lease liabilities and depreciation on right-of-use assets[44]. - The group utilized incremental borrowing rates of 5.46% and 5.70% for discounting lease liabilities as of July 1, 2019[37]. - The company will assess the likelihood of exercising renewal options when determining the lease term, considering all relevant facts and circumstances[34]. Corporate Governance and Compliance - The company has complied with all major provisions of the Corporate Governance Code, except for the deviation regarding the roles of the Chairman and CEO[139]. - The Audit Committee reviewed the unaudited interim results for the six months ended December 31, 2019, and confirmed compliance with relevant accounting standards and regulations[149]. - The company’s shares have been suspended from trading since August 22, 2012, and will remain suspended until further notice[151].

Financial Performance - The company's revenue for the year ended June 30, 2019, was approximately RMB 132,223,000, an increase of 23.8% compared to RMB 106,840,000 in the previous year[5]. - The operating loss for the year was RMB 48,003,000, a decrease of 19.8% from RMB 59,874,000 in the previous year[5]. - The net loss attributable to shareholders was RMB 47,482,000, down 19.9% from RMB 59,256,000 in the previous year[5]. - The gross loss for the year was approximately RMB 3,997,000, a significant improvement from a gross loss of RMB 22,466,000 in the previous year, attributed to increased sales and new product designs that effectively reduced raw material costs[21]. - The basic and diluted loss per share for the year was RMB 4.58, improved from RMB 5.71 in the previous year[26]. - The group reported a loss attributable to shareholders of approximately RMB 47,482,000 for the year, compared to a loss of RMB 59,256,000 in the previous year[139]. - The company’s total assets decreased to RMB 1,912,691 thousand in 2019 from RMB 1,958,036 thousand in 2018, a decline of approximately 2.3%[191]. - The company’s total equity decreased to RMB 1,894,356 thousand in 2019 from RMB 1,939,413 thousand in 2018, a decrease of about 2.3%[191]. - The company recorded a foreign exchange gain of RMB 2,842 thousand in 2019, compared to a loss of RMB 2,494 thousand in 2018, indicating a positive shift in currency impact[188]. Revenue Sources - Sales of high-precision industrial automation instruments and technical products amounted to approximately RMB 130,125,000, accounting for 98.4% of total revenue[14]. - The sales of clock instruments were approximately RMB 2,098,000, representing 1.6% of total revenue, with a segment loss of RMB 10,697,000[15]. - The group's revenue for the year was approximately RMB 132,223,000, an increase of about 23.8% compared to RMB 106,840,000 in the previous year, primarily due to increased sales of automation instruments and technology products[20]. Operational Strategy - The company plans to continue leveraging its R&D team to enhance product performance and maintain a competitive edge in the market[9]. - The company has no major expansion plans due to global market instability and will proceed cautiously with future development plans[18]. - The company aims to strengthen its customer service system to drive product upgrades and enhance service quality[9]. - The company has a strong focus on research and development, with key personnel involved in various new product development projects[54]. - The company is positioned for future growth through ongoing product innovation and market expansion strategies[54]. Corporate Governance - The company emphasizes corporate governance standards, adhering to most of the corporate governance code provisions as per the Stock Exchange Listing Rules[56]. - The board of directors consists of four executive directors and three independent non-executive directors, ensuring a balanced composition with relevant knowledge and experience[59]. - The board held six meetings during the fiscal year ending June 30, 2019, with all members attending every meeting[63]. - The company conducted a review of its corporate governance practices and compliance with applicable laws and regulations[62]. - The company has received independence confirmation from all independent non-executive directors, affirming their status[67]. Environmental and Social Responsibility - The total wastewater discharge in 2019 was 4,685 tons, a decrease of 16% from 5,577 tons in 2018[99]. - The chemical oxygen demand (COD) in 2019 was 248.3 kg, down from 295 kg in 2018, representing a reduction of approximately 16%[99]. - The company maintained zero workplace accidents throughout the year, adhering to strict safety protocols[93]. - The group has implemented a comprehensive energy-saving management system to enhance resource utilization and prevent pollution[100]. - The company has a strict policy against child labor and forced labor, ensuring compliance with national labor laws[97]. Risk Management - The company has established a risk management and internal control system, which was reviewed annually, covering all significant controls including financial, operational, and compliance[86]. - The audit committee reviewed the effectiveness of the internal audit function and found no significant deficiencies in any functions or procedures during the year[86]. - The board is responsible for ensuring that the financial statements fairly present the company's financial position[84]. Shareholder Engagement - The company encourages shareholder engagement through various communication channels, enhancing investor confidence[91]. - The company has a policy allowing shareholders holding at least 10% of the paid-up capital to request a special general meeting[88]. Audit and Financial Reporting - The independent auditor's report confirmed that the consolidated financial statements fairly present the financial position of the group as of June 30, 2019[173]. - The audit aimed to obtain reasonable assurance that the financial statements are free from material misstatement due to fraud or error[181]. - The audit committee assists the board in overseeing the financial reporting process[180]. Employee Management - The group employed a total of 552 staff as of June 30, 2019, down from 685 in the previous year, with employee costs amounting to approximately RMB 38,104,000[38]. - The group has established a training program for employees, covering various aspects including safety training and professional skills enhancement[96].