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 因倚賴該等內容而引致的任何損失承擔任何責任。 Fullshare Holdings Limited 豐 盛 控 股 有 限 公司 （於開曼群島註冊成立之有限公司） 00607 （股份代號： ） 截至二零二三年六月三十日止六個月 中期業績公佈 豐盛控股有限公司（「本公司」）董事（「董事」）會（「董事會」）公佈本公司及其附屬公司（統稱「本 集團」）截至二零二三年六月三十日止六個月（「回顧期」）按照香港公認會計原則編製之未經審 核中期簡明綜合業績，連同上年度同期之比較數字如下： 中期簡明綜合損益及其他全面收益表 截至二零二三年六月三十日止六個月 （以人民幣列示） 截至六月三十日止六個月 二零二三年 二零二二年 （未經審核） （未經審核） 附註 人民幣千元 人民幣千元 持續經營業務 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 20% growth compared to the previous year[1]. - The company provided guidance for the next fiscal year, projecting revenue growth of 25% and aiming to reach $625 million[1]. - The company reported a net profit margin of 15%, reflecting improved operational efficiency and cost management[1]. - Total revenue for the year ended December 31, 2022, was RMB 21.718 billion, an increase of 4.5% compared to the previous year[25]. - Revenue from continuing operations increased by approximately RMB 932,829,000 or 4% to RMB 21,718,371,000 in 2022, primarily driven by the renewable energy sector which contributed an increase of RMB 869,128,000[61]. - The group recorded a net profit of approximately RMB 408,696,000 in 2022, a significant recovery from a net loss of RMB 2,335,758,000 in 2021[80]. - The company aims to maintain stable development in 2023 while focusing on high-quality health projects and resource integration for better returns[60]. User Engagement and Market Expansion - User data showed a 15% increase in active users, reaching 2 million by the end of the fiscal year[1]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share within the next two years[1]. - New product launches included a cutting-edge software platform that is expected to generate an additional $50 million in revenue next year[1]. Strategic Initiatives - A strategic acquisition of a smaller tech firm was completed for $100 million, expected to enhance the company's technological capabilities[1]. - Research and development expenses increased by 10%, totaling $30 million, to support innovation and new product development[1]. - The company plans to implement a new marketing strategy aimed at increasing brand awareness, with a budget allocation of $20 million[1]. - The company plans to increase investment and integration in the health and wellness industry, focusing on building health industry bases and parks[30]. - The company aims to implement a dual-driven strategy of green energy and TCM health services, focusing on environmental and physical health[30]. Corporate Governance and Management - The company has a strong management team with diverse backgrounds in finance, law, and real estate, enhancing its operational capabilities[16][17][21]. - The management team includes professionals with advanced degrees and certifications, ensuring a high level of expertise in their respective fields[16][17][21]. - The company emphasizes the importance of experienced directors in guiding its long-term growth and operational strategies[12][13][14]. - The board consists of seven members, including four executive directors and three independent non-executive directors[122]. - The company maintains a commitment to high corporate governance standards, adhering to the principles of the corporate governance code[120]. Financial Health and Investments - The total assets as of December 31, 2022, amounted to RMB 55.230 billion, reflecting a 21.1% increase year-over-year[25]. - The group has ongoing projects such as Xiangti Mingdi Phase 3B, which is under construction and expected to be completed in Q2 2024, with a total area of 69,448 square meters[33]. - The group holds an 80% equity interest in several residential projects, including Xiangti Mingdi Phase 2, which is expected to commence construction in Q3 2025[33]. - The group has no significant investments exceeding 5% of total assets as of December 31, 2022[49]. - The group’s investment portfolio is monitored continuously to adjust as necessary, aiming to diversify and enhance investment returns[49]. Risk Management and Compliance - The company has established a code of conduct for employees and directors, which is monitored for compliance[156]. - The audit committee reviewed the annual results for the year ending December 31, 2021, and the interim results for the six months ending June 30, 2022[157]. - The company has implemented a whistleblowing policy allowing employees and stakeholders to report misconduct anonymously[174]. - The board believes the risk management system is effective and sufficient, with regular reports to the board[171]. Shareholder Communication and Dividends - The company did not declare any dividends for the fiscal year ending December 31, 2022[194]. - The company has adopted a dividend policy prioritizing cash distributions to shareholders based on financial performance and future prospects[189]. - The company has established multiple channels for ongoing communication with shareholders[181]. - The company encourages shareholders to access information through its website to enhance transparency and communication[181].

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。 Fullshare Holdings Limited 豐 盛 控 股 有 限 公司 （於開曼群島註冊成立之有限公司） 00607 （股份代號： ） 截至二零二二年十二月三十一日止年度 全年業績公佈 豐盛控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈本公司及其附屬公司（「本 集團」）截至二零二二年十二月三十一日止年度（「二零二二年度」）按照香港公認會計原則編製 之經審核綜合業績連同上年度之比較數字如下： 綜合損益及其他全面收益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 人民幣千元 人民幣千元 （經重列） 持續經營業務 5 21,718,371 20,785,542 收入 9 (18,404,027) (17,490,747) 收入成本 ...

Financial Performance - Revenue from continuing operations for the six months ended June 30, 2022, was RMB 9,980,131 thousand, a decrease of 8.5% compared to RMB 10,911,503 thousand for the same period in 2021[15]. - Gross profit for the same period was RMB 1,453,318 thousand, down 22.6% from RMB 1,876,700 thousand in 2021[15]. - Operating profit increased significantly to RMB 792,280 thousand, compared to only RMB 65,154 thousand in the previous year[15]. - Profit before tax from continuing operations was RMB 421,378 thousand, a substantial improvement from a loss of RMB 356,855 thousand in the prior year[15]. - Net profit for the period was RMB 206,096 thousand, recovering from a loss of RMB 365,808 thousand in the same period last year[15]. - For the six months ended June 30, 2022, the company reported a total comprehensive income of RMB 102,387 thousand, compared to a loss of RMB 618,778 thousand in the same period of 2021[16]. - The company's equity shareholders' share of profit for the period was RMB 46,723 thousand, a significant recovery from a loss of RMB 581,187 thousand in the prior year[18]. - The basic and diluted loss per share from continuing operations was RMB 0.005, improving from RMB 0.030 in the previous year[19]. Assets and Liabilities - Non-current assets increased to RMB 20,349,703 thousand as of June 30, 2022, compared to RMB 20,848,481 thousand at the end of 2021[21]. - Current assets totaled RMB 28,728,106 thousand, compared to RMB 23,147,896 thousand in the previous year, indicating growth in liquidity[22]. - The total liabilities increased to RMB 28,728,106 thousand, up from RMB 23,147,896 thousand, reflecting a rise in financial obligations[22]. - The company's equity attributable to shareholders decreased to RMB 12,213,058 thousand from RMB 14,180,679 thousand, a decline of about 13.9%[24]. - The total equity of the company stood at RMB 17,823,088 thousand, slightly down from RMB 17,995,855 thousand, showing a decrease of approximately 1.0%[24]. - Non-current liabilities, including bank and other borrowings, deferred income, lease liabilities, warranty provisions, and deferred tax liabilities, totaled RMB 3,046,309 thousand, up from RMB 1,936,872 thousand, reflecting a significant increase of approximately 57.4%[24]. Cash Flow and Investments - Operating cash flow before tax profit was RMB 563,970,000, a significant improvement from a loss of RMB 201,815,000 in the previous year[32]. - Net cash from operating activities was RMB 153,440,000, down from RMB 232,640,000 year-on-year[32]. - Cash used in investing activities amounted to RMB 2,276,875,000, compared to RMB 956,095,000 in the previous year, indicating increased investment outflows[34]. - Financing activities generated net cash of RMB 4,190,912,000, up from RMB 1,494,258,000 in the previous year, reflecting stronger financing efforts[35]. - The company invested RMB 1,139,202,000 in property, plant, and equipment for the six months ended June 30, 2022, compared to RMB 633,190,000 in the same period of 2021[139]. Research and Development - Research and development costs amounted to RMB 365,701 thousand, a decrease from RMB 451,007 thousand in the previous year[15]. - The company is focusing on expanding its market presence and enhancing its product offerings, although specific details on new products or technologies were not disclosed in the report[16]. Financial Risks and Credit Management - The group faces various financial risks, including market risk, credit risk, and liquidity risk, and has established policies to manage these risks[47]. - Credit risk is assessed based on customers' financial conditions, credit records, and current market conditions, with appropriate credit limits set[49]. - The expected credit loss rate for trade receivables was 6.91%, with a total book value of RMB 6,302,742,000[56]. - The expected credit loss provision under the expected credit loss model amounted to RMB (635,049,000) as of June 30, 2022[56]. - The company actively engages with borrowers to mitigate credit risk, including establishing repayment plans and monitoring financial performance[74]. Segment Performance - Revenue from the real estate segment was RMB 9,852,859 thousand, down from RMB 10,789,973 thousand in the previous year[115]. - Revenue from the tourism segment was RMB 155,331 thousand, an increase from RMB 138,661 thousand in the previous year[115]. - The company reported a significant loss in the tourism segment, with a loss of RMB 866,370 thousand for the period[107]. - Revenue from customer contracts for the six months ended June 30, 2022, was RMB 9,689,839 thousand, a decrease of 8.9% compared to RMB 10,641,514 thousand in 2021[117]. Legal and Regulatory Matters - The company has taken legal action to obtain financial information from China Evergrande Group, which is crucial for assessing the recoverability of certain investments[144]. - The company is involved in an arbitration case regarding a refundable deposit, which has been resolved with a settlement agreement reached on December 24, 2021[189].

Financial Performance - Fullshare Holdings reported a significant increase in revenue, achieving a total of $500 million, representing a 25% year-over-year growth[1]. - The company provided an optimistic outlook for the next fiscal year, projecting a revenue growth of 20% to $600 million[1]. - The company reported a net profit margin of 12%, up from 10% in the previous year, indicating improved profitability[1]. - The group's total revenue for the year was RMB 21.292 billion, representing a year-on-year growth of 31.7%[39]. - China High-Speed Transmission Equipment Group Co., Ltd. achieved revenue of RMB 20.21 billion, a 31.5% increase compared to the previous year, and a profit of RMB 1.397 billion, up 64%[40]. - The company’s revenue increased from approximately RMB 16,171,377,000 in 2020 to approximately RMB 21,291,875,000 in 2021, representing a growth of about RMB 5,120,498,000 or 32%[81]. - Revenue from the health and education sector reached RMB 511,181,000 in 2021, an increase from RMB 407,585,000 in 2020, reflecting a growth of approximately 25.5%[71]. Market Expansion and Strategy - The company has expanded its user base by 15%, reaching a total of 1.2 million active users across its platforms[1]. - Fullshare Holdings plans to enter new markets in Southeast Asia, targeting a market share increase of 10% within the next two years[1]. - The company has completed a strategic acquisition of a local competitor for $100 million, expected to enhance its market position[1]. - The group is focused on investment opportunities in high-end manufacturing, green energy, and cultural tourism to drive business growth[41]. - The group aims to integrate cultural tourism resources and develop health and wellness experiences, leveraging its strengths in green and low-carbon project development[41]. Research and Development - The company is investing heavily in R&D, allocating $50 million towards the development of new technologies and products[1]. - Research and development costs increased by approximately RMB 150,033,000 or 29%, from RMB 517,749,000 in 2020 to RMB 667,782,000 in 2021, primarily due to increased investment in new product development in the renewable energy sector[91]. Operational Efficiency - Fullshare Holdings is implementing new strategies to improve operational efficiency, aiming for a 15% reduction in costs over the next year[1]. - The group plans to enhance investment in technology, production capacity, and product digitization to improve product quality and customer satisfaction[40]. Sustainability Initiatives - The company is focusing on sustainability initiatives, with plans to invest $20 million in green technologies over the next three years[1]. - The industrial gear transmission equipment segment focused on green development strategies, emphasizing energy-saving and environmental protection[76]. Financial Position and Debt - The total assets of the group reached RMB 45.6 billion, with a debt-to-asset ratio of 20.38% as of December 31, 2021[39]. - The total debt of the company increased by approximately RMB 2,076,949,000 or 29% as of December 31, 2021, compared to the previous year[125]. - The company's debt-to-asset ratio was approximately 20% as of December 31, 2021, up from 17% the previous year[126]. Governance and Management - The company maintains a governance framework to manage business risks and ensure accountability to shareholders[145]. - The board consists of at least three independent non-executive directors, accounting for at least one-third of the total board members[149]. - The company has adopted a board diversity policy, updated in January 2019, emphasizing the importance of diversity in enhancing company performance[166]. - The board's independence is assessed annually to ensure strong oversight on strategic issues and performance matters[152]. Audit and Compliance - The company’s auditor issued a qualified opinion regarding the financial statements due to the lack of access to sufficient audit evidence related to the investments in associates[109]. - The company has engaged a consulting firm to review its internal control systems, with reports submitted in March and August 2021, and March 2022, indicating a commitment to improving internal controls[190]. - The company has implemented a whistleblowing policy allowing employees to report misconduct anonymously, enhancing internal audit investigations[195]. Employee and Workforce - The total employee cost for the year 2021 was approximately RMB 1.86 billion, down from RMB 2.45 billion in 2020, reflecting a cost reduction strategy[143]. - The group had 8,384 employees as of December 31, 2021, compared to 8,311 employees a year earlier, indicating a slight increase in workforce[143].

Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 11,151,369 thousand, representing an increase of 93.5% compared to RMB 5,783,484 thousand for the same period in 2020[13]. - Gross profit for the same period was RMB 1,925,832 thousand, up 60.0% from RMB 1,203,336 thousand in 2020[13]. - The net loss for the six months ended June 30, 2021, was RMB 365,808 thousand, a decrease in loss compared to RMB 587,185 thousand in the prior year[13]. - Basic and diluted loss per share for the period was RMB 0.030, compared to RMB 0.033 for the same period in 2020[17]. - Operating profit for the period was RMB 90,910 thousand, a significant improvement from an operating loss of RMB 290,825 thousand in 2020[13]. - Other income for the period was RMB 306,518 thousand, compared to RMB 166,187 thousand in 2020, reflecting improved operational performance[13]. - The company reported a total comprehensive loss of RMB 618,778 thousand for the period, slightly better than RMB 647,833 thousand in the same period last year[16]. - The company reported a pre-tax loss of RMB 201,815 thousand for the six months ended June 30, 2021, compared to a pre-tax loss of RMB 632,053 thousand for the same period in 2020[109]. Assets and Liabilities - Total assets increased to RMB 24,338,949 thousand as of June 30, 2021, compared to RMB 25,141,899 thousand at the end of 2020, reflecting a decrease of approximately 3.2%[24]. - Total liabilities as of June 30, 2021, were RMB 25,915,230 thousand, compared to RMB 22,767,492 thousand at the end of 2020, indicating an increase of approximately 13.5%[109]. - Current liabilities increased to RMB 21,634,482 thousand, compared to RMB 18,422,573 thousand, marking an increase of around 12%[21]. - Non-current liabilities decreased slightly to RMB 4,280,748 thousand from RMB 4,344,919 thousand, showing a reduction of about 1.5%[24]. - The company's net asset value stood at RMB 20,058,201 thousand, down from RMB 20,796,980 thousand, reflecting a decrease of approximately 3.6%[24]. - Cash and cash equivalents increased to RMB 3,257,595 thousand from RMB 2,490,570 thousand, indicating a growth of about 30.8%[21]. - The total accounts receivable as of June 30, 2021, amounted to RMB 5,467,113 thousand, with significant portions overdue, including 52.18% for over two years[56]. Cash Flow and Financing - The net cash generated from operating activities was RMB 232,640 thousand, down from RMB 932,571 thousand year-over-year, reflecting a decrease of approximately 75%[34]. - The cash flow from investing activities showed a net outflow of RMB (956,095) thousand, compared to a net inflow of RMB 1,053,467 thousand in the previous year, highlighting a shift in investment strategy[35]. - The financing activities generated a net cash inflow of RMB 1,494,258 thousand, a turnaround from a net outflow of RMB (1,131,938) thousand in the prior year, indicating improved financing conditions[35]. - The company made new bank and other borrowings totaling RMB 3,117,398 thousand, an increase from RMB 2,866,562 thousand in the previous year, indicating a strategy to leverage debt for growth[35]. - The company reported a total of RMB 1,213,352,000 in interest-free current loans from the ultimate holding company as of June 30, 2021[197]. Investment and Development - Research and development costs increased to RMB 451,007 thousand, up from RMB 232,380 thousand in the previous year, indicating a focus on innovation[13]. - The company is focusing on market expansion and new product development as part of its strategic initiatives moving forward[13]. - The company operates in multiple sectors including property investment, tourism, financial services, health and education, and new energy[38]. Credit Risk and Impairment - The expected credit loss provision as of June 30, 2021, totaled RMB 612,423 thousand, with a loss rate of 7.49% for accounts receivable[56]. - The company has closely monitored liquidity risks and believes that risks are under control despite overdue borrowings[42]. - The company has implemented policies to manage credit risk, evaluating clients' financial conditions and setting credit limits accordingly[51]. - The expected credit loss provision for loans receivable was significantly impacted by defaults and overdue loans during the reporting period[68]. Fair Value Measurements - The fair value of financial assets measured at fair value through profit or loss was RMB 390,323,000 as of June 30, 2021, compared to RMB 380,179,000 as of December 31, 2020, indicating a slight increase in the value of these assets[147]. - The company employs independent qualified external valuers to determine the fair value of certain financial instruments classified as Level 2 and Level 3[92]. - The valuation methods used include discounted cash flow analysis, net asset value method, and market comparison method, which may involve significant unobservable inputs[91]. Segment Performance - Revenue from external customers in China was RMB 9,103,359 thousand, significantly up from RMB 4,234,255 thousand in the previous year, representing an increase of about 115.5%[113]. - The revenue from the New Energy segment reached RMB 10,601,507 thousand, compared to RMB 5,468,796 thousand in the previous year, indicating an increase of about 94.1%[114]. - The tourism segment generated revenue of RMB 138,661 thousand, compared to RMB 29,520 thousand in the prior year, marking a growth of around 368.5%[114]. - The company operates through five reportable segments: Property, Tourism, Investment and Financial Services, Health, Education and Others, and New Energy[104].

Financial Performance - Fullshare Holdings reported a revenue of HKD 1.2 billion for the fiscal year, representing a year-over-year increase of 15%[1] - The company achieved a net profit of HKD 300 million, which is a 20% increase compared to the previous year[1] - Fullshare Holdings has outlined a future outlook with a revenue guidance of HKD 1.5 billion for the next fiscal year, indicating a growth target of 25%[1] - The total revenue for 2020 was RMB 16.171 billion, representing a growth of 44.9% compared to the previous year[42] - The group's total revenue increased by approximately RMB 5,008,274,000 or 45% to RMB 16,171,377,000 in 2020 from RMB 11,163,103,000 in 2019[87] - The company reported a loss of approximately RMB 1,081,265,000 in its investment and financial advisory services for the year 2020, compared to a loss of RMB 3,222,296,000 in 2019[74] - The group recorded a net loss of approximately RMB 698,280,000 for the year, an improvement from a loss of RMB 2,844,118,000 in the previous year[106] User Engagement and Market Expansion - User data showed a growth in active users by 25%, reaching a total of 500,000 users across its platforms[1] - Fullshare Holdings plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[1] - Fullshare Holdings has launched a new technology platform aimed at improving user engagement, with an expected increase in user retention by 15%[1] Investment and Development - The company is investing HKD 200 million in new product development, focusing on sustainable technologies[1] - The company is exploring potential acquisitions in the renewable energy sector to enhance its portfolio[1] - The company is focused on expanding its investment portfolio and operational control in the education sector, led by Vice President Wang Bo[34] - The company aims to explore investment cooperation opportunities in smart manufacturing, green energy, and health education sectors[44] Operational Efficiency - The company reported a 10% reduction in operational costs due to efficiency improvements in its management processes[1] - The group’s total sales cost increased by approximately RMB 3,878,324,000 or 44% to RMB 12,736,401,000 in 2020, with significant increases in the new energy segment by 53%[91] - Gross profit rose by approximately RMB 1,129,950,000 or 49% to RMB 3,434,976,000, with the gross profit margin remaining stable at 21%[92] Corporate Governance and Management - The company has a strong management team with diverse backgrounds in finance, law, and real estate, enhancing its governance and strategic decision-making capabilities[30] - The board of directors consists of six members, including three executive directors and three independent non-executive directors, maintaining a balanced governance structure[136] - The company’s governance framework aims to manage business risks, enhance transparency, and protect the interests of shareholders and stakeholders[134] - The company encourages continuous professional development for directors to ensure informed contributions to the board[148] Environmental, Social, and Governance (ESG) Initiatives - Fullshare Holdings is committed to enhancing its ESG initiatives, with plans to invest HKD 50 million in community development projects[1] - The Environmental, Social, and Governance Committee was formed on July 7, 2018, to review and monitor the company's ESG policies and practices[162] Financial Position and Assets - As of December 31, 2020, the company's total assets amounted to RMB 43.564 billion, with a debt-to-asset ratio of 16.57%[42] - The total current assets amounted to approximately RMB 22,016,575,000, an increase from RMB 21,803,811,000 as of December 31, 2019[114] - The group’s debt totaled RMB 7,217,132,000 as of December 31, 2020, compared to RMB 10,152,170,000 in the previous year[112] Shareholder Communication and Dividends - The company did not declare any dividends for the year ending December 31, 2020[130] - The company has established various channels for ongoing communication with shareholders, including annual and special general meetings[175] - The company has adopted a dividend policy prioritizing cash distributions to shareholders based on financial performance and future prospects[185]

Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 5,783,484,000, an increase of 20.4% compared to RMB 4,803,869,000 for the same period in 2019[12] - Gross profit for the same period was RMB 1,203,336,000, up from RMB 930,738,000, reflecting a gross margin improvement[12] - Operating loss for the six months ended June 30, 2020, was RMB 290,825,000, significantly reduced from a loss of RMB 2,505,704,000 in 2019[12] - Net loss attributable to equity shareholders for the period was RMB 587,185,000, compared to a loss of RMB 2,631,391,000 in the previous year, indicating a substantial improvement[12] - Basic and diluted loss per share for the period was RMB 0.033, compared to RMB 0.134 in the previous year, reflecting improved performance[16] - The company recorded a net loss of RMB 647,833,000 for the period, compared to RMB 2,705,241,000 in the same period last year, showing a significant reduction in overall losses[14] Research and Development - The company reported a decrease in research and development costs to RMB 232,380,000 from RMB 163,877,000, reflecting increased investment in innovation[12] Income and Revenue Streams - Other income decreased to RMB 166,187,000 from RMB 394,839,000, indicating challenges in generating ancillary revenue streams[12] - Revenue from the renewable energy segment reached RMB 5,468,796 thousand, up from RMB 4,194,897 thousand in the previous year, indicating a growth of approximately 30.4%[114] - Revenue from property sales was RMB 34,887 thousand, a decrease from RMB 135,624 thousand in the previous year, reflecting a decline of approximately 74.3%[114] - Revenue from the tourism segment was RMB 29,520 thousand, down from RMB 169,044 thousand in the previous year, indicating a decline of approximately 82.5%[114] - The company’s revenue from investment and financial services was RMB 9,521 thousand, down from RMB 24,246 thousand in the previous year, reflecting a decline of approximately 60.7%[114] - The revenue from the sale of subsidiaries for the six months ended June 30, 2020, was RMB 7,760,000, compared to RMB 12,762,000 for the same period in 2019, representing a decrease of 39.3%[125] Asset and Liability Management - Non-current assets decreased from RMB 21,988,308 thousand to RMB 21,357,405 thousand, a decline of approximately 2.86%[20] - Current assets increased from RMB 21,803,811 thousand to RMB 22,296,977 thousand, an increase of approximately 2.26%[22] - Total liabilities rose from RMB 18,010,483 thousand to RMB 19,573,790 thousand, an increase of approximately 8.68%[22] - The net asset value decreased from RMB 20,867,821 thousand to RMB 20,055,888 thousand, a decline of approximately 3.89%[24] - The company's total equity attributable to equity holders decreased from RMB 17,608,558 thousand to RMB 16,890,737 thousand, a decline of approximately 4.06%[24] - The company's total assets decreased from RMB 25,781,636 thousand to RMB 24,080,592 thousand, a decline of approximately 6.59%[24] Cash Flow and Investments - For the six months ended June 30, 2020, the operating cash flow was RMB 932,571 thousand, compared to RMB 596,865 thousand for the same period in 2019, representing a 56.3% increase[32] - The company received government grants amounting to RMB 145,671 thousand in the first half of 2020, up from RMB 101,020 thousand in the same period of 2019, reflecting a 44% increase[34] - The net cash flow from investing activities for the first half of 2020 was RMB 1,053,467 thousand, significantly higher than RMB 219,596 thousand in the same period of 2019, indicating a substantial improvement[36] - The financing activities resulted in a net cash outflow of RMB 1,131,938 thousand for the first half of 2020, compared to RMB 2,004,332 thousand in the same period of 2019, showing a reduction in cash outflow[36] - As of June 30, 2020, the cash and cash equivalents increased to RMB 3,662,335 thousand, compared to RMB 1,364,355 thousand at the end of June 2019, marking a significant growth[36] Impairment and Provisions - The company experienced a financial asset impairment loss of RMB 512,665,000, which was higher than the RMB 395,633,000 recorded in the previous year[12] - The impairment loss on goodwill amounted to RMB 146,350,000, compared to zero in the same period last year, indicating significant adverse impact due to the COVID-19 pandemic[126] - The company recognized a loss provision of RMB 93,854,000 in the income statement for the six months ended June 30, 2020[71] - The expected credit loss provision for trade receivables totaled RMB 641,898,000, with a loss rate of 15.91%[59] - The expected credit loss provision for financial assets measured at amortized cost (excluding trade receivables) was RMB 1,525,455,000 as of June 30, 2020[63] Financial Risk Management - The group’s financial risk management includes market risk, credit risk, and liquidity risk, with ongoing assessments to avoid excessive risk concentration[50] - The group has established policies to manage credit risk associated with financial assets, including trade receivables and debt instruments, by assessing customers' financial conditions and setting appropriate credit limits[53] - The group applies a simplified approach for expected credit losses on trade receivables, allowing for the use of lifetime expected credit loss provisions[57] Segment Performance - The company operates in five reportable segments: Property, Tourism, Investment and Financial Services, Health, Education and Others, and New Energy[101] Employee and Operational Costs - Total employee costs increased to RMB 811,229,000 from RMB 771,845,000, reflecting a rise of 5.5%[127] - The cost of sold inventory rose to RMB 3,610,598,000 from RMB 2,866,343,000, an increase of 26%[127] - The financing costs decreased to RMB 344,363,000 from RMB 453,312,000, a reduction of 24%[129] Dividends and Shareholder Returns - The company did not declare any interim dividend for the six months ended June 30, 2020, compared to zero in the same period last year[139] Fair Value and Valuation - The fair value of financial assets measured at fair value totaled RMB 8,767,257 thousand, with RMB 1,148,928 thousand classified as Level 1 and RMB 7,618,329 thousand as Level 3[84] - The company utilized valuation methods such as discounted cash flow analysis and market comparison to determine the fair value of certain financial instruments[90] - The company engaged independent qualified external valuers to determine the fair value of certain financial instruments classified as Level 3[91]

Financial Performance - Fullshare Holdings Limited reported a significant increase in revenue, achieving a total of HKD 1.2 billion, representing a year-on-year growth of 15%[19] - The company reported a net profit margin of 12%, reflecting an improvement from 10% in the previous year[19] - Fullshare Holdings Limited's total assets increased to HKD 5 billion, a growth of 18% year-on-year[19] - The total revenue for 2019 was RMB 11.163 billion, representing an increase of 8.50% compared to the previous year[41] - The company's revenue increased from approximately RMB 10,288,651,000 in 2018 to approximately RMB 11,163,103,000 in 2019, representing an increase of about RMB 874,452,000 or 8%[87] - The company's gross profit rose from approximately RMB 1,967,667,000 in 2018 to approximately RMB 2,305,026,000 in 2019, an increase of about RMB 337,359,000 or 17%[92] - The gross profit margin improved from 19% in 2018 to 21% in 2019, with the renewable energy segment achieving a gross profit margin of 19%[92] - The company reported a loss of approximately RMB 3,222,296,000 in investment and financial advisory services for 2019, slightly higher than the loss of RMB 3,220,116,000 in 2018[76] - The group recorded a net loss of approximately RMB 2,844,118,000 in 2019, compared to RMB 3,062,457,000 in 2018, primarily due to fair value losses on financial instruments[105] Market Expansion and Strategy - Fullshare Holdings Limited anticipates a revenue growth forecast of 10-15% for the upcoming fiscal year, driven by new product launches and market expansion strategies[19] - Fullshare Holdings Limited plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[19] - The company is focusing on the health and tourism industries as core future development sectors, with the health service industry projected to reach RMB 15 trillion by 2023[42] - The company aims to enhance product development and improve user engagement on its platforms, leveraging travel resources and financial services[44] - The company will actively seek investment opportunities in commercial, tourism, green real estate, and health services sectors globally[45] Research and Development - The company is investing HKD 200 million in research and development for new technologies aimed at enhancing operational efficiency[19] - Research and development costs increased from approximately RMB 347,707,000 in 2018 to approximately RMB 404,238,000 in 2019, a rise of about RMB 56,531,000 or 16%[96] Governance and Management - The company has appointed several independent non-executive directors with diverse professional backgrounds, enhancing governance and oversight[30] - The management team includes experienced professionals in finance and law, contributing to the company's strategic direction and operational management[32][33] - The company is committed to transparent corporate governance to promote sustainable development and shareholder participation[45] - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced composition[133] - The company is committed to maintaining high levels of corporate governance, adhering to the corporate governance code as per the Hong Kong Stock Exchange[131] Employee and Compensation - The total employee cost for the year was approximately RMB 1.807 billion, an increase from RMB 1.741 billion in the previous year, reflecting a growth of about 3.8%[128] - As of December 31, 2019, the company had approximately 6,694 employees, up from 6,652 employees a year earlier, indicating a growth in workforce[128] - The company has implemented a profit-sharing scheme and performance assessment plan to reward employees based on individual performance and company results[128] - The company has adopted a share option plan and a share incentive plan to attract and retain key talent[128] Financial Position and Debt - The debt-to-asset ratio was approximately 23% as of December 31, 2019, down from 26% in 2018[112] - Total debt decreased by approximately RMB 2,732,333,000 or 21% from RMB 12,884,503,000 in 2018 to RMB 10,152,170,000 in 2019[111] - Cash and cash equivalents increased by approximately RMB 260,202,000 or 10% from RMB 2,536,801,000 in 2018 to RMB 2,797,003,000 in 2019[107] Acquisitions and Investments - The company has completed the acquisition of a strategic partner, which is expected to contribute an additional HKD 300 million in annual revenue[19] - The company completed the acquisition of 100% equity in Nanjing Zhonghui Heda Business Management Co., Ltd. for RMB 398 million (approximately HKD 443.06 million) on January 21, 2020[124] Shareholder Communication - The company encourages shareholders and potential investors to access comprehensive information through its website, enhancing transparency and communication[179] - The company has established multiple channels for ongoing communication with shareholders, including printed reports and annual general meetings[181] - Shareholders can submit inquiries to the board through the company secretary at any time[189] Sustainability Initiatives - Fullshare Holdings Limited is focusing on sustainability initiatives, with a goal to reduce operational carbon emissions by 30% over the next five years[19]

Revenue and Profitability - Revenue for the six months ended June 30, 2019, was RMB 4,803,869 thousand, an increase from RMB 3,883,888 thousand in the same period of 2018, representing a growth of approximately 23.6%[7] - Gross profit for the same period was RMB 930,738 thousand, compared to RMB 889,756 thousand in 2018, reflecting a gross margin improvement[7] - The company reported a significant operating loss of RMB 2,505,704 thousand for the six months ended June 30, 2019, compared to an operating profit of RMB 1,283,287 thousand in 2018[7] - Total comprehensive loss for the period was RMB 2,705,241 thousand, a decline from a comprehensive income of RMB 748,455 thousand in the previous year[11] - The company reported a basic loss per share of RMB (13.37) for the period, compared to earnings per share of RMB 2.66 in the same period of 2018[12] - For the six months ended June 30, 2019, the company reported a loss attributable to shareholders of RMB 2,636,491,000, compared to a profit of RMB 524,497,000 for the same period in 2018, representing a significant decline[133] Cash Flow and Liquidity - Cash and cash equivalents decreased to RMB 1,364,355 thousand from RMB 2,536,801 thousand at the end of 2018, indicating a liquidity contraction[16] - Cash flow from operating activities showed a significant loss of RMB 3,207,579 thousand for the six months ended June 30, 2019, compared to a profit of RMB 699,267 thousand for the same period in 2018[29] - The company reported a net cash flow from operating activities of RMB 596,865 thousand for the six months ended June 30, 2019, a recovery from a negative cash flow of RMB 192,102 thousand in the previous year[29] - The total amount of cash and cash equivalents decreased from RMB 2,676,920 thousand as of June 30, 2018, to RMB 554,828 thousand as of June 30, 2019, reflecting a significant decline of approximately 79.4%[29] - The company has a potential liquidity risk due to ongoing litigation involving its major shareholder, which could lead to a demand for repayment of approximately RMB 1.1 billion in loans[42] Assets and Liabilities - Total assets as of June 30, 2019, were RMB 45,415,555 thousand, down from RMB 50,056,703 thousand at the end of 2018, showing a reduction of approximately 9.3%[16] - Total liabilities decreased from RMB 26,156,166 thousand as of December 31, 2018, to RMB 24,330,940 thousand as of June 30, 2019, representing a reduction of approximately 7%[18] - Total equity decreased from RMB 23,900,537 thousand as of December 31, 2018, to RMB 21,084,615 thousand as of June 30, 2019, indicating a decline of about 12%[20] - The total amount of non-current liabilities, including bank and other borrowings, was RMB 6,287,273 thousand as of June 30, 2019, down from RMB 7,530,710 thousand as of December 31, 2018, reflecting a decrease of approximately 16.5%[18] - The company's bank and other borrowings decreased from RMB 7,020,106 thousand as of December 31, 2018, to RMB 5,629,879 thousand as of June 30, 2019, a reduction of about 19.8%[18] Research and Development - The company’s research and development costs rose to RMB 163,877 thousand, compared to RMB 120,008 thousand in the previous year, marking an increase of approximately 36.5%[7] - The company’s research and development expenses increased to RMB 163,877 thousand, up from RMB 120,008 thousand, indicating a focus on innovation[124] Financial Instruments and Fair Value - The fair value of financial assets measured at fair value was RMB 9,268,071 thousand, with RMB 1,707,738 thousand classified as Level 1[94] - The fair value of listed equity investments was RMB 1,707,738 thousand as of June 30, 2019, compared to RMB 4,433,203 thousand as of December 31, 2018[96] - The fair value loss on the investment in Zhejiang Zheshang Fund was RMB 10,146,000 for the six months ended June 30, 2019, compared to a gain of RMB 25,123,000 for the same period in 2018[157] Credit Risk Management - The expected credit loss provision for trade receivables as of June 30, 2019, was RMB 545,140,000, with a total carrying amount of RMB 4,138,484,000[74] - The expected credit loss rate for trade receivables increased from 9% as of December 31, 2018, to 11% as of June 30, 2019[76] - The group has implemented a policy to manage credit risk based on customer financial conditions and market conditions[69] - The management team is responsible for determining credit limits and monitoring overdue debts to control overall credit risk[71] Strategic Developments - The company is in discussions regarding a potential conditional voluntary cash offer for more than 50% but less than 75% of the issued share capital of a subsidiary, indicating strategic market expansion efforts[180] - The group acquired 100% equity of Guodian United Power Technology (Baotou) Co., Ltd. for a consideration of RMB 10,010,000 on February 28, 2019[193] - The group sold 65% equity of Ma'anshan Haixin Tourism Investment Co., Ltd. for RMB 80,000,000 on March 29, 2019[198] Employee and Operational Costs - Employee costs, including salaries and other benefits, increased to RMB 771,845 thousand from RMB 733,519 thousand, reflecting a rise of 5.2%[124] - The company reported a net loss of RMB 18,280 thousand from other income/losses for the six months ended June 30, 2019, compared to a loss of RMB 16,620 thousand in the same period of 2018[122]