Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 10,675,171,000, a decrease of 7.6% compared to RMB 11,551,515,000 for the same period in 2023[8]. - Gross profit for the same period was RMB 1,430,489,000, down 22.8% from RMB 1,854,183,000 year-on-year[8]. - Operating loss for the six months was RMB 1,091,062,000, compared to an operating profit of RMB 781,198,000 in the previous year[8]. - The net loss for the period was RMB 1,526,940,000, a significant decline from a profit of RMB 170,012,000 in the same period last year[9]. - The company reported a basic and diluted loss per share of RMB 2.349 for the six months ended June 30, 2024[10]. - For the six months ended June 30, 2024, the group recorded a loss of RMB 1,526,940,000[21]. - The company reported a significant increase in cash and cash equivalents, totaling RMB 5,220,635 thousand compared to RMB 5,693,844 thousand, reflecting a decrease of approximately 8.31%[12]. - The company reported a net loss of RMB 600,609 thousand from other gains/losses for the six months ended June 30, 2024, compared to a gain of RMB 182,811 thousand in 2023[66]. - The company’s total comprehensive loss for the six months ending June 30, 2024, is RMB 1,210,438[58]. Asset and Liability Management - As of June 30, 2024, total non-current assets amounted to RMB 23,709,057 thousand, an increase from RMB 23,246,129 thousand as of December 31, 2023, reflecting a growth of approximately 1.98%[11]. - Current assets reached RMB 31,824,898 thousand, up from RMB 31,263,965 thousand, indicating an increase of about 1.79%[12]. - The company's total liabilities increased to RMB 31,911,654 thousand from RMB 29,511,143 thousand, representing a rise of approximately 8.12%[13]. - The net asset value decreased to RMB 15,742,081 thousand from RMB 17,438,010 thousand, a decline of about 9.71%[13]. - The total assets as of June 30, 2024, amount to RMB 55,533,955, with total liabilities of RMB 39,791,874[58]. - The total liabilities in the renewable energy segment are RMB 14,153,431 as of June 30, 2024[58]. - The total debt increased by approximately RMB 1,741,325,000 or 12% to RMB 16,221,539,000[167]. - The asset-liability ratio as of June 30, 2024, was approximately 29%, up from 27% as of December 31, 2023[168]. Cash Flow and Financing Activities - The total cash flow from operating activities was adjusted to RMB 2,640,645 thousand, up from RMB 806,546 thousand year-on-year[16]. - The net cash used in investing activities was RMB 936,844 thousand, a decrease from RMB 1,158,181 thousand in the previous year[18]. - The financing activities generated a net cash inflow of RMB 1,315,874 thousand, compared to RMB 1,205,574 thousand in the same period of 2023[18]. - The company has outstanding borrowings totaling RMB 2,183,445,000, with overdue interest recognized at RMB 46,698,000[113]. - The total bank and other borrowings as of June 30, 2024, is RMB 16,221,539,000, up from RMB 14,480,214,000 as of December 31, 2023[110]. - The group has received a court order to comply with repayment obligations and is currently in discussions to renegotiate the repayment schedule[111]. Impairment and Credit Losses - Financial assets impairment loss for the period was RMB 1,056,193,000, compared to RMB 219,712,000 in the previous year, indicating a significant increase in impairment[8]. - The expected credit loss provision for trade receivables as of June 30, 2024, is RMB 1,263,468 thousand, with a total carrying amount of RMB 9,857,592 thousand[29]. - The significant increase in trade receivables impairment loss for the six months ended June 30, 2024, is attributed to liquidity issues in the new energy sector, leading to overdue payments[33]. - The company applies a simplified approach for expected credit loss provisioning for trade receivables, using historical loss experience adjusted for macroeconomic factors[29]. - The total expected credit loss provision for financial assets measured at amortized cost (excluding trade receivables) was RMB (2,164,957) thousand, with a total carrying amount of RMB 4,724,148 thousand[36]. Revenue and Segment Performance - Revenue from the Chinese market for the six months ending June 30, 2024, is RMB 9,595,472, down from RMB 10,296,043 in the previous year, indicating a decrease of approximately 6.8%[60]. - The property segment reported a loss of RMB 405,703, while the tourism segment incurred a loss of RMB 290,782 for the six months ending June 30, 2024[58]. - Revenue from the New Energy segment was RMB 10,159,694 thousand, down from RMB 11,257,595 thousand, representing a decline of 9.7%[61]. - The health, education, and other sectors saw a significant revenue increase of approximately RMB 248,704,000 or 5,281% due to bulk commodity trading[151]. - The investment and financial services segment recorded a loss of approximately RMB 429,390,000, a significant increase from a loss of RMB 21,491,000 for the six months ended June 30, 2023[134]. Management and Governance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[194]. - The company has received written statements confirming compliance with non-competition commitments from its major shareholders during the review period[189]. - The company has no specific plans for significant investments or acquisitions targeting major capital assets or other businesses in the near future[179]. - The company plans to enhance financial management policies to improve capital efficiency and strengthen internal governance to mitigate operational and financial risks[146]. Market Conditions and Strategic Outlook - The overall economic environment remains uncertain, but the company aims to maintain stable development across all sectors and focus on high-quality health projects for investment[146]. - The real estate market in China is currently in a downturn, with continuous price declines, despite gradual policy relaxations[147]. - The company will adjust its investment portfolio based on actual market conditions to enhance profitability amid evolving economic policies[148]. - The company continues to focus on property investment, development, and sales, alongside expanding its tourism and financial services sectors[19].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 10,675,171, a decrease of 7.6% compared to RMB 11,551,515 for the same period in 2023[1]. - Gross profit for the period was RMB 1,430,489, down 22.8% from RMB 1,854,183 in the previous year[1]. - Operating loss for the six months was RMB (1,091,062), compared to a profit of RMB 781,198 in the same period last year[2]. - Total comprehensive loss for the period amounted to RMB (1,717,016), compared to a loss of RMB (167,543) in the previous year[4]. - Basic and diluted loss per share was RMB (2.349), compared to RMB (0.325) in the same period last year[4]. - The group recorded a loss of RMB 1,526,940,000 for the six months ended June 30, 2024[9]. - The total loss before tax for the six months ended June 30, 2024, was RMB 1,694,762 thousand, indicating a challenging financial period for the company[17]. - The company reported a net loss attributable to equity shareholders of RMB (1,495,728) thousand for the six months ended June 30, 2024, compared to a loss of RMB (172,544) thousand in the same period of 2023[33]. Asset and Liability Management - Non-current assets increased to RMB 23,709,057 as of June 30, 2024, from RMB 23,246,129 as of December 31, 2023[5]. - Current liabilities rose to RMB 31,911,654, compared to RMB 29,511,143 at the end of 2023[6]. - The company reported a net asset value of RMB 15,742,081, down from RMB 17,438,010 at the end of 2023[6]. - As of June 30, 2024, total assets were reported at RMB 55,533,955 thousand, while total liabilities stood at RMB 39,791,874 thousand, reflecting a significant asset-liability structure[17]. - The group’s net current liabilities stood at RMB 86,756,000 as of June 30, 2024[9]. - The company’s current ratio was approximately 1 as of June 30, 2024, down from 1.1 as of December 31, 2023[90]. - The asset-liability ratio was approximately 29% as of June 30, 2024, compared to 27% as of December 31, 2023[89]. Impairment and Financial Losses - The company incurred a financial asset impairment loss of RMB (1,056,193), significantly higher than RMB (219,712) in the previous year[1]. - For the six months ended June 30, 2024, the impairment losses recognized in profit or loss amounted to RMB 1,056,193 thousand, a significant increase from RMB 219,712 thousand in the same period of 2023, representing a rise of approximately 380%[14]. - Net impairment losses on financial assets increased by RMB 836,481,000 or 381% to about RMB 1,056,193,000, largely due to adverse market factors affecting trade receivables in the renewable energy division[79]. Cash Flow and Financing - Cash and cash equivalents decreased to RMB 5,220,635 from RMB 5,693,844 at the end of 2023[5]. - The group has unused bank financing available amounting to RMB 468,459,000 as of June 30, 2024[9]. - The company has not utilized certain financial resources, which are critical for assessing its ability to continue as a going concern[9]. - The company has a total of RMB 16,221,539,000 in borrowings as of June 30, 2024, up from RMB 14,480,214,000 as of December 31, 2023, indicating a growth of about 12.1%[46]. - The company has guaranteed bank and other borrowings of RMB 836,937,000 as of December 31, 2023, which is an increase from RMB 807,716,000[44]. Operational Efficiency and Cost Management - The group aims to optimize operating costs and prioritize capital expenditures to minimize cash outflows[9]. - The total expenses for the six months ended June 30, 2024, were RMB 10,329,674 thousand, down from RMB 10,957,054 thousand in the same period of 2023, indicating cost control measures[24]. - Financing costs decreased to RMB 564,378 thousand in the six months ended June 30, 2024, from RMB 604,576 thousand in the same period of 2023, reflecting lower interest expenses[26]. - Administrative expenses decreased by approximately RMB 110,005,000 or 21% to about RMB 412,775,000, primarily due to the absence of provisions for overdue loan penalties[77]. Business Segments and Revenue Sources - Revenue from property development and sales in the property segment increased to RMB 2,583 thousand from RMB 154 thousand year-over-year[20]. - The renewable energy segment reported a loss of RMB 80,219 thousand, contributing to the overall performance challenges faced by the company[17]. - The health, education, and other businesses generated revenue of approximately RMB 253,413,000, compared to RMB 4,709,000 for the six months ended June 30, 2023[66]. - The investment and financial services segment recorded a loss of approximately RMB 429,390,000, an increase from a loss of RMB 21,491,000 for the six months ended June 30, 2023[60]. Corporate Governance and Compliance - The company emphasizes maintaining robust financial management policies to enhance the effective use of funds and strengthen internal governance to control operational and financial risks[98]. - The company has adopted the standard code of conduct for securities trading by directors as per Appendix C3 of the listing rules[106]. - All directors have confirmed compliance with the standard code during the review period[106].

Financial Performance - In the fiscal year 2023, the company reported a revenue increase of approximately RMB 3,127,445,000 or 14.4%, reaching about RMB 24,845,816,000 compared to RMB 21,718,371,000 in 2022[191] - The new energy sector contributed approximately RMB 24,077,148,000 or 96.9% of total revenue in 2023, up from RMB 21,079,654,000 in 2022[191] - The property sector generated revenue of approximately RMB 254,155,000, accounting for 1% of total revenue in 2023, compared to RMB 225,713,000 in 2022[191] - The tourism sector produced revenue of approximately RMB 360,389,000, representing 1.5% of total revenue in 2023, down from RMB 397,495,000 in 2022[191] - Revenue from health, education, and other sectors was approximately RMB 151,444,000, making up 0.6% of total revenue in 2023, compared to RMB 9,332,000 in 2022[191] Financial Position - The asset-liability ratio as of December 31, 2023, is approximately 27%, an increase from 23% as of December 31, 2022[5] - The net equity of the group as of December 31, 2023, is approximately RMB 17,438,010,000, down from RMB 18,120,248,000 as of December 31, 2022[5] - Total bank and other borrowings as of December 31, 2023, amount to approximately RMB 13,721,973,000, compared to RMB 12,143,445,000 as of December 31, 2022[7] - As of the end of the fiscal year on December 31, 2023, the company's total distributable reserves amounted to RMB 16,913,004,000, an increase from RMB 16,487,373,000 in the previous year[126] Governance and Compliance - The group’s management believes that the current governance structure effectively balances power and authority within the board and management[16] - The board confirmed that the internal control system is effective and sufficient, with plans to enhance its effectiveness through continuous internal control review[42] - The Audit Committee is responsible for reviewing the group's interim and annual performance, ensuring the effectiveness of the internal financial control system[60] - The Risk Management Committee identifies overall risks, including environmental, social, and governance risks[64] - The company has complied with insider information handling and disclosure procedures throughout the fiscal year 2023[84] Shareholder Communication and Rights - The company has established multiple channels for ongoing communication with shareholders and potential investors[70] - The company has a whistleblowing policy in place for reporting suspected fraud, corruption, or misconduct[44] - The company has established a procedure for shareholders to make inquiries to the board during the annual general meeting[92] - Shareholders can request a special general meeting to address specified matters, provided they hold at least 10% of the voting shares[89] - The company updated its shareholder communication policy on March 31, 2022, to ensure timely and comprehensive information dissemination to shareholders[87] Incentive and Share Option Plans - A total of 17,521,400 incentive shares were purchased under the incentive share plan, with 221,200 shares becoming invalid in 2018 and 17,300,200 shares becoming invalid in 2019[79] - No incentive shares were granted, vested, cancelled, or invalidated during the fiscal year 2023, and there were no unexercised incentive shares as of January 1 and December 31, 2023[79] - The incentive share plan is valid for five years and expired on July 6, 2023, with all purchased incentive shares sold as per the board's instructions[79] - The share incentive plan allows for a maximum of 986,453,086 shares to be granted, which is 5% of the total issued share capital at the time of adoption[107] - The share option plan is valid for five years and will expire on August 16, 2023, with no further options to be granted thereafter[99] Major Transactions and Investments - The group did not engage in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the fiscal year 2023[12] - The group has no specific plans for major investments or acquisitions in significant capital assets or other businesses in the near future, but will continue to seek new business development opportunities[12] - The company plans to use the net proceeds from both subscription agreements to repay loans and payables[115][119] Risk Management - The company emphasizes the importance of good corporate risk management for sustainable development and shareholder value[193] - The company selected revenue, net profit/loss, net asset value, and operating cash flow as key indicators for assessing profitability and debt repayment capacity[192] - The risk management committee held four meetings during the fiscal year 2023, with attendance records documented in the report[81] Director Interests and Transactions - The chairman and CEO, Mr. Chi Chang Kwan, holds a beneficial interest of 26.81% in the company, amounting to 170,685,859 shares[146] - As of December 31, 2023, Mr. Ji directly held 18,190,200 shares and had an interest in 152,495,659 shares held by Magnolia Wealth International Limited, totaling 170,685,859 shares[196] - No significant transactions, arrangements, or contracts were established with directors or their related entities during the fiscal year ending in 2023[199]

Financial Performance - For the fiscal year ending December 31, 2023, the revenue from continuing operations increased to RMB 24,845,816,000, representing a growth of approximately 16% from RMB 21,718,371,000 in 2022[1] - The gross profit from sales and services was RMB 3,541,723,000, compared to RMB 3,314,344,000 in the previous year[1] - Operating profit decreased significantly to RMB 687,031,000 from RMB 1,662,306,000 in 2022[1] - The company reported a loss before tax of RMB 444,860,000, compared to a profit of RMB 714,729,000 in the previous year[2] - The loss from continuing operations was RMB 455,449,000, a decline from a profit of RMB 267,123,000 in 2022[3] - Total comprehensive loss for the year was RMB 455,449,000, compared to a profit of RMB 408,696,000 in the previous year[4] - The company recognized other income of RMB 410,329,000, down from RMB 430,385,000 in 2022[27] - The company reported a pre-tax loss from continuing operations of RMB (444,860,000) for the year ending December 31, 2023[36] - The company reported a significant increase in prepayments to RMB 1,325,068 thousand in 2023, compared to RMB 1,065,817 thousand in 2022, an increase of approximately 24.4%[58] - The company reported a net loss attributable to equity shareholders of RMB 950,538,000 for the year ended December 31, 2023, compared to RMB 160,981,000 in 2022[155] Revenue Segments - The revenue from the new energy segment, which includes the sale of gear products, was RMB 17,055,230,000, compared to RMB 15,733,627,000 in 2022[23] - The total revenue from external customers across various segments reached RMB 24,845,816, with the largest contribution from the New Energy segment at RMB 24,077,148[36] - The revenue from the sale of subsidiaries in 2023 was RMB 2,449,000, compared to RMB 8,026,000 in 2022, representing a decrease of approximately 69.5%[30] - Revenue from green building services and construction services was approximately RMB 443,000 in 2023, down from RMB 2,017,000 in 2022, indicating a decline in this segment[99] Costs and Expenses - The cost of sales and services rose to RMB 21,304,093,000, an increase of RMB 2,900,066,000 or 16% from RMB 18,404,027,000 in 2022[16] - Total expenses for the reporting period amounted to RMB 23,807,365, an increase from RMB 20,596,418 in the previous year, representing a growth of approximately 10.7%[1] - Cost of goods sold reached RMB 19,133,831, compared to RMB 16,232,978 in the prior year, indicating an increase of about 17.6%[1] - The company’s total employee benefits expenses increased to RMB 2,172,443 from RMB 1,884,147, marking a rise of approximately 15.3%[1] - The company’s research and development costs were RMB 904,473, up from RMB 744,816, representing an increase of about 21.4%[1] Asset Management - The total assets as of December 31, 2023, amounted to RMB 54,510,094, while total liabilities were RMB 37,072,084, resulting in a net asset position[36] - The impairment loss on property, plant, and equipment decreased to RMB (4,931,000) in 2023 from RMB (18,331,000) in 2022, showing an improvement in asset management[30] - The company’s total classified assets reached RMB 43,518,291, with the New Energy segment holding the largest share at RMB 32,529,027[36] - Non-current assets located in China increased to RMB 18,132,074 in 2023 from RMB 16,049,150 in 2022, showing a growth of about 12.9%[44] - The company’s total assets as of December 31, 2022, were RMB 55,229,834, up from RMB 44,258,711 in 2021, reflecting a growth of approximately 24.8%[48] Liabilities and Financial Obligations - The company’s total liabilities as of December 31, 2022, were RMB 37,109,586, an increase from RMB 20,183,635 in the previous year, indicating a rise in financial obligations[48] - The company’s overdue borrowings amounted to RMB 2,206,636,000, with overdue interest of RMB 140,827,000 recognized, compared to RMB 335,363,000 and RMB 14,470,000 in the previous year, respectively[118] - The company’s total liabilities decreased to RMB 29,511,143 thousand in 2023 from RMB 30,181,512 thousand in 2022, a reduction of about 2.2%[59] - The company’s total liabilities decreased from RMB 10,387,604,000 in 2022 to RMB 7,625,165,000 in 2023, indicating a reduction of approximately 26.7%[189] - The group has a total secured borrowings amounting to RMB 3,346,246,000 for current liabilities and RMB 3,697,600,000 for non-current liabilities as of December 31, 2023, compared to RMB 2,661,941,000 and RMB 3,142,417,000 respectively in 2022[196] Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[1] - The group plans to maintain stable development across its sectors while focusing on high-quality health projects for prudent investments in 2024[103] - The group emphasizes that a diversified business portfolio will provide stable income and synergistic effects for its development[103] - The group is committed to improving its business portfolio and cash flow by exiting low-return projects[103] Shareholder Information - The basic and diluted loss per share for 2023 was RMB 1.722, compared to RMB 0.669 in 2022, reflecting increased losses per share[79] - The weighted average number of ordinary shares issued for the year ended December 31, 2023, was 551,864,890, an increase from 452,213,068 in 2022[156] - The company approved a share consolidation of 1 share for every 50 shares on November 30, 2023, effective December 4, 2023[135] - The weighted average number of ordinary shares issued as of December 31, 2023, was adjusted to account for 17,521,400 shares from the share incentive plan and 5,306,000,000 new shares issued after the share subscription completed on October 19, 2023[136] Legal and Compliance Issues - The group has faced financial responsibilities related to the sale of subsidiary equity and certain overdue loans, leading to the freezing of some investment properties by Chinese courts[88] - The group has established a settlement agreement with Jiangsu Anke, but has failed to comply with the repayment schedule[195] - The group believes that the outstanding liabilities can be settled through internal funds or the sale of non-core assets without significant impact on operations[194]

Revenue and Profitability - Revenue for the six months ended June 30, 2023, was RMB 11,551,515 thousand, an increase of 15.7% compared to RMB 9,980,131 thousand in the same period of 2022[11]. - The net profit attributable to equity shareholders for the period was RMB 170,012 thousand, compared to RMB 206,096 thousand in the previous year, reflecting a decline of 17.5%[12]. - The operating profit decreased slightly to RMB 781,198 thousand from RMB 792,280 thousand year-on-year[11]. - The adjusted profit before tax from continuing operations for the six months ended June 30, 2023, was RMB 180,006 thousand, compared to RMB 421,378 thousand for the same period in 2022, indicating a decrease of approximately 57.3%[104]. - The company reported a loss attributable to equity shareholders from continuing operations of RMB 172,544,000 for the six months ended June 30, 2023, compared to a loss of RMB 94,776,000 for the same period in 2022[130]. Expenses and Costs - Gross profit for the same period was RMB 1,854,183 thousand, representing a gross margin of 16.1%, up from RMB 1,453,318 thousand in 2022[11]. - Total operating expenses for the six months ended June 30, 2023, were RMB 10,957,054 thousand, an increase of 15% from RMB 9,530,764 thousand in the previous year[119]. - Financing costs increased to RMB 604,576 thousand in the first half of 2023, compared to RMB 379,175 thousand in the same period of 2022, marking a rise of 59.5%[121]. - The company reported a significant decrease in current tax expenses in China, which fell to RMB 135,752 thousand from RMB 423,247 thousand year-on-year[123]. Assets and Liabilities - The company’s total assets as of June 30, 2023, were RMB 25,000,000 thousand, reflecting a growth from the previous year[11]. - Total liabilities decreased slightly to RMB 29,801,175 thousand as of June 30, 2023, from RMB 30,181,512 thousand as of December 31, 2022[24]. - The net asset value was RMB 17,962,008 thousand as of June 30, 2023, compared to RMB 18,120,248 thousand as of December 31, 2022[24]. - The company’s total equity attributable to equity shareholders decreased to RMB 11,586,104 thousand as of June 30, 2023, from RMB 12,039,043 thousand as of December 31, 2022[24]. Cash Flow and Financing - The net cash generated from operating activities was RMB 74,022 thousand, down 77.2% from RMB 324,333 thousand year-on-year[30]. - Cash and cash equivalents at the end of the period were RMB 4,504,742 thousand, a decrease of 19.4% from RMB 5,579,164 thousand at the end of the previous period[35]. - The cash flow from financing activities generated a net cash inflow of RMB 1,205,574 thousand, down 71.2% from RMB 4,190,912 thousand in the same period last year[35]. - The company raised new bank and other borrowings amounting to RMB 4,460,744 thousand, a decrease of 21.5% from RMB 5,683,025 thousand in the previous period[35]. Research and Development - Research and development costs increased to RMB 459,359 thousand, up from RMB 365,701 thousand, indicating a focus on innovation[11]. - The company’s research and development costs increased to RMB 459,359 thousand, up from RMB 365,701 thousand, indicating a focus on innovation and development[119]. Financial Risks and Credit Losses - The group is exposed to various financial risks, including market risk, credit risk, and liquidity risk, and has established policies to manage these risks[50]. - As of June 30, 2023, the expected credit loss provision for trade receivables was RMB 739,320 thousand, with a total carrying value of RMB 7,197,444 thousand[60]. - The expected credit loss provision for other receivables as of June 30, 2023, was RMB 581,267 thousand, with a total carrying value of RMB 3,019,153 thousand and an expected loss rate of 19.25%[69]. - The expected credit loss model is based on historical loss rates and forward-looking macroeconomic data[66]. Fair Value and Investments - The fair value of financial assets measured at fair value is RMB 5,741,874,000, with RMB 158,967,000 classified as Level 1, and RMB 5,582,907,000 classified as Level 3[80]. - The company recognized a fair value gain of RMB 11,524,000 in profit or loss for the six months ended June 30, 2023[87]. - The total fair value loss recognized in other comprehensive income for the same period was RMB 459,974,000[87]. - The fair value of non-listed equity investments was RMB 878,333,000 as of June 30, 2023, reflecting a slight increase from the previous period[87]. Segment Performance - The real estate segment generated revenue of RMB 126,650 thousand, while the tourism segment reported RMB 160,994 thousand, and the financial services segment incurred a loss of RMB 21,491 thousand[103]. - The renewable energy segment reported sales of gear products amounting to RMB 8,250,777 thousand, up from RMB 6,641,397 thousand, representing a growth of 24.2%[108]. - Revenue from external customers in China for the six months ended June 30, 2023, was RMB 10,296,043 thousand, up from RMB 8,694,245 thousand in the same period of 2022, marking a growth of approximately 18.4%[106]. Management and Governance - Management is closely monitoring liquidity risk and believes that risks are under control due to sufficient collateral for guaranteed loans and the group's financial condition[41]. - The company did not declare any interim dividend for the six months ended June 30, 2023, and 2022[128]. - The company’s subsidiaries qualified as high-tech enterprises are expected to continue enjoying a preferential tax rate of 15% for three years from the approval date[124].

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].