香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 | 截 | 至 | 截 | 至 | 二零二五年 | 二零二四年 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 三月三十一日 | 三月三十一日 | 止年度 | 附 | 註 | 止年度 | | | | | | | | | | 人民幣千元 | 人民幣千元 | | | | | | | | | | | | | | 收 | 益 | 1,618,544 | 5 | 1,440,982 | | | | | | | | | | | 銷售成本 | (1,671,550) | (1,310,193) | | | | | | | | | | | | | （毛 | 損）╱毛 | 利 | (53,006) | 1 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 北大資源（控股）有限公司 Peking University Resources (Holdings) Company Limited （於百慕達註冊成立之有限公司） （股份代號：00618） 截至二零二五年三月三十一日止年度之 全年業績公佈 北 大 資 源（控 股）有 限 公 司（「本 公 司」）董 事（「董 事」）會（「董 事 會」）欣 然 公 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 五 年 三 月 三 十 一 日 止 年 度 之 經 審 核 綜 合 業 績 及 財 務 狀 況，連 同 截 至 二 零 二 四 年 三 月 三 十 一 日 止 年 度 之 比 較 數 字。 – 1 – 綜合損益表 截至二零二五年三月三十一日止年度 | 截 | 至 | 截 | 至 | 二零二五年 | 二零二四年 | | | ...

其中，该公司的资本承担应透过向合伙企业注入出售公司(于本公告日期为公司的全资附属公司安泰国 际投资集团(香港)有限公司)的全部股权的方式结清。因此，该公司订立合伙协议及公司将向合伙企业作 出注资将导致视作出售公司于出售公司的股权。 合伙企业的主要目的为直接或间接投资于特殊机遇资产以及与之相关的一个或多个集体投资工具的合伙 权益及其他权益，以及探索与医疗保健行业相关的项目机会，以为合伙人取得理想投资回报。 据悉，出售公司主要从事投资控股。 出售集团，包括出售公司及由出售公司持有的17间附属公司(其中 7间从事实质性业务)，主要在中国从事物业发展业务。出售公司的各附属公司均为中间控股公司或在中 国持有物业发展项目的公司。 智通财经APP讯，北大资源(00618)公布，于2025年5月7日(联交所交易时间后)，该公司(作为劣后级有限 合伙人)与苏州遨泽(作为普通合伙人)及重庆京嘉汇(作为优先有限合伙人)订立合伙协议。根据合伙协 议，该公司、苏州遨泽及重庆京嘉汇同意设立合伙企业，总资本承担为人民币100,010,000元，乃由以下 人士出资：(i)苏州遨泽为人民币1万元;(ii)该公司为人民币3000万元;及(iii ...

Financial Performance - The group's revenue decreased by 2.2% to approximately RMB 746,509,000, primarily due to a reduction in delivered property area, resulting in a revenue decline of about RMB 57,618,000 from property development and RMB 25,133,000 from e-commerce and distribution[1]. - The loss attributable to the company's owners during the reporting period was approximately RMB 1,265,687,000, compared to a profit of approximately RMB 155,781,000 in the same period last year[2]. - For the six months ended September 30, 2023, the group reported revenue of RMB 1,272,964,000, which was adjusted to RMB 763,093,000 after reclassification[61]. - The net profit for the period was RMB 166,054,000, with no adjustments made[61]. - The company reported a pre-tax loss of RMB 1,376,759 thousand for the six months ended September 30, 2024, compared to a pre-tax profit of RMB 182,246 thousand in the same period last year[79]. - The basic loss attributable to shareholders for the six months ending September 30, 2024, was RMB (1,265,687,000), a significant decline from a profit of RMB 155,781,000 in the same period of 2023[100]. Assets and Liabilities - As of September 30, 2024, the total assets amounted to approximately RMB 10,834,600,000, while total liabilities were approximately RMB 9,315,200,000, resulting in a net asset value per share of RMB 0.562[7]. - The group's cash and cash equivalents, including restricted cash, were approximately RMB 625,200,000 as of September 30, 2024, down from RMB 904,100,000 as of March 31, 2024[8]. - The group's debt-to-equity ratio increased to 1.22 as of September 30, 2024, compared to 0.70 as of March 31, 2024[8]. - Current liabilities rose to RMB 8,161,746,000 from RMB 7,676,516,000, reflecting increased financial obligations[44]. - The total estimated liabilities as of September 30, 2024, are approximately RMB 1,683,924,000, significantly up from RMB 739,909,000 as of March 31, 2024[125]. Cash Flow and Financial Management - The company aims to maintain operational liquidity and resolve existing debt as its primary business objectives[25]. - The company completed the sale of a 90% stake in Ezhou Jinfeng on May 16, 2024, to enhance liquidity, resulting in a cash inflow of RMB 900,000[112]. - The company reported a total cash inflow of RMB 900,000 from the sale of subsidiaries, with net cash outflow from sold cash and cash equivalents amounting to RMB (543,000)[98]. Strategic Initiatives - The company plans to continue seeking profitable investment opportunities aligned with its development strategy to maintain satisfactory performance growth and enhance shareholder value[22]. - The company has established a "Big Health+" model by upgrading some pharmacies to include traditional Chinese medicine and related services, enhancing brand effect[23]. - The company plans to leverage national policies that support the development of chain pharmacies and brand building, indicating a strategic direction for future growth[38]. Segment Performance - The group operates in four reportable segments: medical and pharmaceutical retail, e-commerce and distribution, property development, and property investment and management[65]. - The e-commerce and distribution segment generated revenue of RMB 337,437 thousand, down from RMB 337,180 thousand in the previous year, indicating a slight decrease of 0.1%[79]. - The property development segment reported revenue of RMB 1,540,025 thousand, significantly up from RMB 363,171 thousand in the prior year, reflecting a growth of approximately 324.5%[79]. Legal and Compliance Issues - The group is involved in ongoing litigation regarding unpaid debts totaling RMB 1,458,500,000, with a court ruling requiring repayment[163]. - A civil judgment ordered the group to repay RMB 620,000,000 in trust loans, with ongoing negotiations for debt settlement[165]. - The company is involved in a civil lawsuit where it is required to repay approximately RMB 590 million in principal, along with interest and penalties, due to a loan default by a subsidiary[168]. - The company is actively negotiating repayment plans with creditors, demonstrating a proactive approach to managing its financial liabilities[169]. Share Capital and Ownership - As of September 30, 2024, the company had issued and paid-up capital of 2,737,417,279 shares, with a total value of 27,374 thousand HKD[152]. - The company completed a capital reorganization on May 8, 2024, resulting in a new share capital of HKD 1,500,000,000, divided into 150,000,000,000 new shares with a par value of HKD 0.01 each[193]. - The company’s capital structure has been significantly altered due to the share consolidation and subsequent reduction in par value[193].

Financial Performance - For the six months ended September 30, 2024, the company reported a revenue of RMB 746,509 thousand, a decrease of 2.3% compared to RMB 763,093 thousand for the same period in 2023[2]. - The net loss for the period was RMB 1,354,773 thousand, compared to a profit of RMB 166,054 thousand in the same period last year, indicating a significant decline in performance[4]. - The basic and diluted loss per share for the period was RMB (46.80), compared to earnings of RMB 6.83 per share in the previous year[4]. - The total comprehensive loss for the period was RMB 1,321,453 thousand, compared to a total comprehensive income of RMB 274,196 thousand in the previous year[10]. - The net profit for the six months ended September 30, 2024, was RMB 299,156,000, a decrease of 82.1% compared to RMB 1,673,744,000 in the same period last year[55]. - Revenue decreased by 2.2% to approximately RMB 746,509,000, primarily due to a reduction in delivered property area, resulting in a decline of approximately RMB 57,618,000[109]. - Gross profit decreased by approximately RMB 34,229,000 to about RMB 19,516,000, mainly due to reduced gross profit from delivered properties[109]. Assets and Liabilities - The company's total non-current assets increased to RMB 1,995,856 thousand as of September 30, 2024, up from RMB 1,830,931 thousand as of March 31, 2024[15]. - Current assets decreased to RMB 8,838,697 thousand from RMB 9,692,018 thousand, reflecting a reduction in liquidity[15]. - The total liabilities increased to RMB 9,315,213 thousand as of September 30, 2024, compared to RMB 8,676,054 thousand as of March 31, 2024[15]. - Total assets as of September 30, 2024, were RMB 10,834,553 thousand, a decrease from RMB 11,522,949 thousand as of March 31, 2024[46][52]. - The company's cash and cash equivalents decreased to RMB 607,387 thousand from RMB 890,197 thousand, indicating a decline in cash reserves[15]. - The debt-to-equity ratio increased to 1.22 from 0.70, indicating a rise in leverage[123]. Revenue Segmentation - The group operates in four reportable segments: Medical and Pharmaceutical Retail, E-commerce and Distribution, Property Development, and Property Investment and Management[38]. - Revenue from customer contracts for the six months ended September 30, 2024, was RMB 690,215,000, a decrease of 3.1% compared to RMB 714,376,000 for the same period in 2023[53]. - Medical and consulting services revenue increased significantly to RMB 6,638,000, up 75.5% from RMB 3,789,000 year-over-year[53]. - Distribution business revenue decreased by 7.45% to approximately RMB 312,047,000, with a loss of RMB 8,400,000 during the reporting period[101]. - Real estate development revenue decreased by 15.87% to approximately RMB 305,553,000, resulting in a loss of approximately RMB 1,223,331,000[102]. - Property investment and management revenue increased by 15.55% to approximately RMB 56,294,000, but recorded a loss of approximately RMB 37,359,000[107]. Operational Changes and Strategies - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and customer engagement[44]. - The company has upgraded and transformed traditional pharmacies into a "pharmacy + traditional Chinese medicine clinic" model, with 9 stores upgraded since acquiring 56% of Wuhan Yekaitai Pharmaceutical Co., Ltd.[97]. - The company has established a new Yekaitai Traditional Chinese Medicine Clinic in Hangzhou, integrating traditional Chinese medicine with modern healthcare concepts[97]. - The company aims to capitalize on unprecedented opportunities in e-commerce, focusing on full-channel marketing and enhancing data-driven decision-making[179]. - The group plans to further expand its regional real estate development business and actively promote project delivery[106]. - The group aims to optimize business and inventory management to ensure healthy development in response to challenges[101]. Governance and Management - The board of directors is composed of executive directors and independent non-executive directors, led by Chairman Huang Qihao[195]. - The executive team includes key figures such as Huang Zhuguang and Hou Ruilin, highlighting leadership stability[195]. - The company emphasizes transparency and accountability in its operations through board structure[195]. - The company is focused on strategic decision-making and governance with a diverse board composition[195]. - The company is likely to explore market expansion and new strategies in upcoming reports[195]. Legal and Contingent Liabilities - The company has total contingent liabilities including pending litigation as detailed in the "Significant Litigation" section[86]. - The group is involved in significant litigation concerning an unpaid debt of approximately RMB 1,458.5 million, with a court ruling requiring repayment and the auction of collateral[136]. - Another litigation involves an unpaid trust loan of RMB 620 million, with a court ruling mandating repayment and the auction of collateral[139]. - The group is also facing a civil lawsuit regarding unpaid construction project payments of approximately RMB 105.3 million, with a court ruling requiring payment of RMB 50.1 million[140]. Share Options and Employee Incentives - The company has adopted a new share option plan effective from August 28, 2023, which will be valid for ten years[79]. - The company granted a total of 600,000,000 stock options under the 2023 Share Scheme, allowing the purchase of 600,000,000 shares[81]. - The maximum number of shares that can be granted to any single participant within any 12-month period is capped at 1% of the total issued shares, which amounts to 9,129,669 shares[159]. - The vesting period for the granted options is not less than 12 months, although the board may allow a shorter vesting period at its discretion[160]. - The company has a total of 544,700,000 unexercised options granted to various participants[166]. Market Conditions and Economic Outlook - The GDP growth rate for the first three quarters of 2024 is reported at 4.8%, with fixed asset investment increasing by 3.4%[90]. - The overall retail market for pharmaceuticals has seen a slight decline, with offline markets experiencing negative growth while online markets maintain double-digit growth[91]. - The digital e-commerce market in China is experiencing rapid growth driven by policy support, technological innovation, and consumer upgrades[176]. - The Chinese real estate market faces challenges, but government policies are being implemented to support recovery, including controlling new construction and optimizing existing inventory[180].

| 2 3 | | 公司資料 | 目錄 公司概要 | | --- | --- | --- | --- | | 4-5 | | | 主席報告 | | 6-26 | 管理層討論及分析 | | | | 27-39 | 企業管治報告 | | | | 40-107 | 環境、社會及管治報告 | | | | 108-112 | 董事及高級管理人員簡歷 | | | | 113-121 | | | 董事會報告 | | 獨立核數師報告 | 122-128 | 綜合損益表 | 129 | | --- | --- | --- | --- | | 綜合全面收益表 | 130 | 綜合財務狀況表 | 131-132 | | 綜合權益變動表 | 133-134 | 綜合現金流量表 | 135-136 | 137-262 綜合財務報表附註 263-264 投資物業詳情 265 五年財務概要 266 財務摘要 公司概要 公司業務領域 北大資源（控股）有限公司（「北大資源」或「本公司」，連同其附屬公司統稱為「本集團」）原名方正數碼（控股）有限公司。 本公司於香港聯合交易所有限公司（「聯交所」）主板上市（股份代號：618.HK）。本集團主要於中 ...

Customer Experience and Satisfaction - The company aims to enhance customer experience and satisfaction by establishing closer customer relationships and providing personalized solutions[1]. Real Estate Market Conditions - The Chinese real estate market continues to face challenges, but government policies are aimed at stabilizing and supporting the sector, indicating significant structural demand[3]. - In December 2023, the central government announced a RMB 300 billion fund to support the purchase of unsold residential properties, alongside measures to lower down payment ratios[4]. - The group has accelerated the pre-sale of suitable properties by formulating sales strategies tailored to each property development project and enhancing communication with partner banks to expedite the collection of proceeds from pre-sales and sales of developed properties[50]. - The group has implemented cost control measures by closely monitoring budget costs at each stage of property development and adopting a cost management system for real-time cost control, aiming to improve cost-effectiveness in the pre-sale and sales processes[51]. - The overall performance reflects ongoing challenges in the real estate market, with continued downward trends in sales and new construction[135]. Financial Performance - The company reported total revenue of RMB 1,440,982,000 for the year ending March 31, 2024, a decrease of 72.8% compared to RMB 5,174,870,000 for the previous year[20]. - Gross profit for the year was RMB 130,789,000, down 82.8% from RMB 760,808,000 in the prior year[20]. - The company incurred a net loss of RMB 750,242,000 for the year, compared to a profit of RMB 1,018,855,000 in the previous year[20]. - The company reported a total comprehensive loss of RMB (655,914,000) for the year, compared to a total comprehensive income of RMB 1,164,784,000 in the previous year[28]. - The company’s total equity attributable to owners decreased from RMB 1,461,494,000 in 2023 to RMB 1,034,504,000 in 2024[42]. - The company reported a basic loss attributable to shareholders of RMB (785,629) thousand for the year ended March 31, 2024, compared to a profit of RMB 966,690 thousand for the year ended March 31, 2023[112]. Business Strategy and Operations - The company plans to maintain operational liquidity and address existing debt while focusing on expanding its light asset business model[5]. - The company plans to expand its store network, aiming to reach 20 integrated Chinese medicine and pharmacy locations by the end of the year[12]. - The company is focusing on a dual-channel strategy of "new openings + acquisitions" to enhance its market presence in Wuhan and surrounding areas[13]. - The company aims to provide diversified services combining traditional Chinese medicine and pharmacy, enhancing customer experience[14]. - The company aims to enhance revenue from medical and pharmaceutical retail, as well as e-commerce and information product distribution, to generate additional operating cash flow[49]. E-commerce and Market Trends - E-commerce market in China is expected to continue rapid growth, driven by post-pandemic consumer demand and government policies[15]. - The company will strengthen its role as a key intermediary for brands and e-commerce platforms, offering comprehensive marketing services[16]. - E-commerce is evolving with a focus on quality and personalization, driven by technological advancements such as IoT and 5G, while facing challenges from increased competition[131]. - In 2023, China's online retail sales reached RMB 15.4 trillion, an increase of 11.0% year-on-year, with physical goods sales accounting for RMB 13.0 trillion, up 8.4%[132]. - In Q1 2024, online retail sales amounted to RMB 3.3 trillion, growing 12.4% year-on-year, while physical goods sales were RMB 2.8 trillion, up 11.6%[132]. Financial Position and Assets - Non-current assets increased to RMB 1,830,931,000 in 2024 from RMB 1,638,953,000 in 2023, representing an increase of approximately 11.7%[31]. - Current assets decreased to RMB 9,692,018,000 in 2024 from RMB 11,009,672,000 in 2023, a decline of about 11.9%[31]. - Total liabilities decreased from RMB 9,320,030,000 in 2023 to RMB 7,676,516,000 in 2024, a reduction of approximately 17.6%[31]. - The company reported a net asset value of RMB 2,507,742,000 in 2024, slightly down from RMB 2,535,557,000 in 2023[35]. - The group’s total assets as of March 31, 2024, were approximately RMB 11,522,900,000, down from RMB 12,648,600,000 as of March 31, 2023[165]. Legal and Compliance Issues - The company is involved in multiple significant legal proceedings, indicating ongoing financial and operational challenges[184]. - The company is facing substantial liabilities from various lawsuits, which may impact its financial stability and future operations[184]. - The outcomes of these legal proceedings could significantly affect the company's cash flow and overall financial health[184]. - The civil lawsuit filed by CITIC Trust against Hong Kong Tianhe Holdings involves an unpaid debt of approximately RMB 1,050,000,000, including interest up to November 10, 2021[190]. - The court ruled that Hong Kong Tianhe must repay CITIC Trust approximately RMB 735,800,000 in principal and interest, along with overdue interest and penalties[190]. Employee and Operational Changes - Employee count increased to approximately 744 as of March 31, 2024, up from 454 on March 31, 2023, primarily due to the acquisition of Ye Kai Tai Pharmaceutical[197]. - The company has a stock option plan that allows for the issuance of options not exceeding 10% of the issued shares, totaling 163,396,901 shares, with 147,051,211 options granted by March 31, 2023[200].

Financial Performance - For the six months ended September 30, 2023, the income tax expense was RMB 16,192,000, a decrease of 89.2% compared to RMB 150,188,000 for the same period in 2022[1]. - The company’s total revenue decreased by approximately 66.9% to about RMB 1,272,964,000, down from RMB 3,846,310,000 for the six months ended September 30, 2022, primarily due to a reduction in delivered area in property development[78]. - Gross profit decreased by 89.1% to approximately RMB 54,002,000, with the gross margin dropping from 12.9% to 4.2%[78]. - The profit before tax for the six months was RMB 182,246,000, down from RMB 214,963,000 in the prior year, reflecting a decrease of approximately 15.3%[133]. - The net profit for the period was RMB 166,054,000, compared to RMB 64,775,000 in the previous year, showing an increase of about 156.5%[133]. - The basic earnings per share for the company was RMB 1.71, up from RMB 1.34 in the same period last year, representing an increase of approximately 27.6%[133]. - Total comprehensive income for the period was RMB 274,196,000, down from RMB 354,693,000 in the previous year, indicating a decrease of 22.6%[179]. - The company's other comprehensive income, net of tax, was RMB 108,142,000, a significant decrease from RMB 289,918,000 in the prior year, reflecting a decline of 62.7%[179]. - The total comprehensive income attributable to owners of the company was RMB 263,923,000, compared to RMB 376,120,000 in the previous year, a decrease of 29.8%[179]. Assets and Liabilities - As of September 30, 2023, total assets were approximately RMB 11,951,600,000, and total liabilities were approximately RMB 8,780,900,000, reflecting a decrease in liabilities from RMB 10,113,100,000 as of March 31, 2023[62]. - The net asset value per share increased to RMB 0.347 from RMB 0.278 as of March 31, 2023, attributed to profits during the reporting period[62]. - The total current assets decreased to RMB 10,309,086,000 from RMB 11,009,672,000, representing a decline of approximately 6.36%[160]. - The total liabilities decreased from RMB 9,320,030,000 to RMB 7,960,977,000, a reduction of about 14.56%[161]. - The total equity attributable to owners of the company increased to RMB 1,725,417,000 from RMB 1,461,494,000, reflecting a growth of 18.06%[161]. Cash Flow and Financial Stability - The cash and cash equivalents at the end of the period were RMB 665,904,000, down from RMB 696,114,000, a decrease of 4.83%[166]. - The net cash generated from operating activities was RMB 8,399,000, a significant recovery from a cash outflow of RMB (136,641,000) in the previous period[166]. - The company has diversified its operations into four reportable segments, including e-commerce and distribution, property development, and property investment and management[169]. - The company is actively monitoring cash flow and risk management to maintain financial stability[107]. - The company has a strategy to balance liquidity and flexibility through interest-bearing bank borrowings[107]. Dividends and Shareholder Value - The company did not declare or pay any dividends for the six months ended September 30, 2023, consistent with the same period in 2022[3]. - The board does not recommend the distribution of any interim dividend for the six months ended September 30, 2023[131]. - The group is focused on enhancing shareholder value through strategic investments and expanding its revenue and profit potential in various sectors[96]. Business Operations and Market Expansion - The company is transitioning from traditional IT distribution to e-commerce, focusing resources on the development of its e-commerce business[55]. - The retail pharmacy sector is expected to expand significantly due to ongoing healthcare reforms and policies promoting retail pharmacies[47]. - The company plans to expand its retail pharmacy business through a combination of new store openings and acquisitions, aiming to achieve a mid-to-high scale of store numbers in Wuhan and surrounding areas[155]. - The company is committed to identifying profitable investment opportunities aligned with its long-term development strategy despite challenges in the real estate market[152]. - The company is actively pursuing policies to enhance shareholder value and maintain satisfactory performance growth[152]. Legal and Contingent Liabilities - The company is involved in ongoing civil litigation regarding unpaid construction project payments amounting to approximately RMB 105.3 million[32]. - A separate civil lawsuit involves an unpaid loan principal of approximately RMB 300 million with an interest rate of about 10.4%, totaling around RMB 389.4 million including penalties[33]. - The company faces contingent liabilities of approximately RMB 922,886,000 related to guarantees provided for mortgage financing to property buyers[88]. - The group has contingent liabilities related to outstanding debts totaling approximately RMB 1,458,513,000, with a court ruling requiring repayment[109]. - A separate court ruling mandates repayment of RMB 620,000,000 in trust loans, with ongoing negotiations for settlement[111]. Management and Employee Compensation - The total remuneration for key management personnel was RMB 5,688,000 for the six months ended September 30, 2023, a decrease of 24.6% from RMB 7,538,000 in the same period of 2022[15]. - The group maintains a competitive compensation structure for employees, ensuring performance-based bonuses and training programs[116]. - The 2023 share plan aims to incentivize eligible participants and enhance the overall value of the company and its shares[118]. Acquisitions and Investments - The company entered into an equity transfer agreement to acquire 55.5556% of Wuhan Yekaitai Pharmaceutical Chain Co., Ltd. for RMB 45,000,000 on August 16, 2023[19]. - The company acquired a 55.5556% stake in Yekaitai Pharmaceutical for RMB 45 million and an additional 44.4444% stake for RMB 36 million, making it a wholly-owned subsidiary[151]. - The group has no specific future plans for major investments or capital assets as of September 30, 2023, but is actively seeking new investment opportunities in real estate, e-commerce, and healthcare sectors[96].

Financial Performance - The group's profit for the reporting period was approximately RMB 166,054,000, a significant increase from RMB 64,775,000 for the six months ended September 30, 2022, reflecting a strong recovery[1]. - Revenue decreased by approximately 66.9% to about RMB 1,272,964,000, down from RMB 3,846,310,000 for the same period last year, primarily due to a reduction in delivered property area[1]. - Gross profit decreased by 89.1% to approximately RMB 54,002,000, with the gross margin dropping from 12.9% to 4.2%[1]. - The total comprehensive income for the period was RMB 274,196,000, compared to RMB 354,693,000 in the previous period, reflecting a decrease of approximately 22.7%[17]. - The income attributable to the owners of the company was RMB 263,923,000, down from RMB 376,120,000, indicating a decline of about 29.8%[19]. - The company reported a net profit of RMB 166,054,000 for the six months ended September 30, 2023, compared to RMB 64,775,000 in the same period of 2022, reflecting an increase of 156.5%[102]. - The company reported a pre-tax profit of RMB 214,963 thousand for the six months ended September 30, 2023, compared to a pre-tax profit of RMB 182,246 thousand in the previous period, indicating a growth of 17.9%[140]. Expenses and Liabilities - Total sales and distribution expenses, along with administrative and other operating expenses, decreased by 18.6% to approximately RMB 135,141,000[1]. - Financial expenses decreased by 58.2% to approximately RMB 57,893,000 due to reduced interest-bearing financial debts[1]. - Income tax expenses decreased by 89.2% to approximately RMB 16,192,000, reflecting lower corporate income tax and land appreciation tax[1]. - Total liabilities as of September 30, 2023, were RMB 8,780,917 thousand, compared to RMB 10,113,068 thousand as of March 31, 2023, showing a reduction of about 13.2%[142]. - The company recognized an expected liability provision of RMB 999,011,000 related to guaranteed liabilities and contractual arrangements[153]. Assets and Equity - The total assets as of September 30, 2023, were approximately RMB 11,951,600,000, down from RMB 12,648,600,000 as of March 31, 2023[5]. - The group's net asset value per share increased to RMB 34.7 cents from RMB 27.8 cents, driven by profits during the reporting period[5]. - Total equity increased significantly to RMB 3,170,709 thousand from RMB 2,535,557 thousand, a growth of approximately 25.09%[124]. Cash Flow and Liquidity - The group's cash and cash equivalents, including restricted cash, were approximately RMB 679,800,000 as of September 30, 2023, down from RMB 725,900,000 as of March 31, 2023[7]. - The group’s cash flow situation is closely monitored to maintain a balance between liquidity and flexibility[14]. - The company raised approximately HKD 116,023,000 for debt repayment and general working capital[60]. Legal Proceedings - The group is actively involved in significant legal proceedings, including a civil lawsuit with a principal amount of RMB 1,458,513,000 related to unpaid debts[26]. - Five Minerals International has filed a civil lawsuit against Wuhan Tianhe and others for an outstanding trust loan principal of RMB 620 million, with a court ruling requiring repayment including interest and costs[29]. - CITIC Trust has initiated legal proceedings for an unpaid debt of approximately RMB 1.05 billion, including interest, against several subsidiaries, with a court hearing scheduled for November 2023[30]. - The company has entered into negotiations with the plaintiff regarding a repayment plan for the civil judgment[36]. Employee and Compensation - As of September 30, 2023, the company had approximately 617 employees, an increase from 454 employees as of March 31, 2023, primarily due to the acquisition of Ye Kai Tai Pharmaceuticals[42]. - The company has a competitive compensation policy for its employees, ensuring that salary levels are attractive and providing training programs in addition to retirement benefits and medical insurance[42]. Strategic Focus and Market Outlook - The company is focused on enhancing its long-term profitability and shareholder value through strategic investments and market expansion efforts[37]. - The real estate market in China is facing challenges, but government policies are expected to support market recovery and structural improvement[53]. - The company plans to play a key intermediary role between brands and e-commerce platforms, providing comprehensive network marketing services[62]. - The company aims to expand its store network through a "new openings + acquisitions" model, targeting a significant increase in store numbers in Wuhan and surrounding areas[63]. - The company is focusing on integrating traditional Chinese medicine services with retail, offering diverse services including consultations and recovery therapies[64]. Shareholder Actions - The board does not recommend the distribution of any interim dividends for the six months ending September 30, 2023[65]. - The company adopted a new share option plan on August 28, 2023, which is effective for ten years and allows for the issuance of share rewards and options to eligible participants[45]. - The 2023 share plan allows for the issuance of up to 10% of the total shares issued as of the adoption date, equating to 912,966,911 shares[46]. - The company has not yet granted any rewards under the 2023 share plan as of the announcement date[48]. Market Trends - The Chinese digital e-commerce market is expected to continue rapid growth in 2023, driven by post-pandemic consumption expansion and supportive government policies[57]. - The pharmaceutical retail industry benefits from favorable policies and has unique risk resistance capabilities, with leading companies expanding rapidly through store openings[58]. - The retail pharmacy sector is expected to expand significantly as the main profit source for medical institutions shifts from pharmaceutical sales to medical services[179]. - In the first three quarters of 2023, online retail sales in China reached RMB 1,081.98 billion, a year-on-year increase of 11.6%[183].

Financial Performance - The company recorded revenue of RMB 5.17 billion for the reporting period, a decrease of 56% compared to the previous year[10]. - The company achieved a profit of RMB 1.02 billion, an increase of 334.93% year-on-year, successfully turning a loss into a profit[10]. - Total equity increased from RMB 2.39 billion at the end of the previous year to RMB 2.54 billion[10]. - The equity attributable to owners improved from a deficit of RMB 462 million to RMB 1.46 billion, with the debt-to-equity ratio decreasing from 1.89 to 0.76[10]. - The group's revenue decreased by 56.1% to approximately RMB 5,174,900,000, down from RMB 11,799,600,000 in the previous 15-month period[30]. - Profit for the year was approximately RMB 1,018,900,000, a significant improvement from a loss of RMB 433,700,000 in the previous period[30]. - Gross profit decreased by approximately RMB 393,600,000 to about RMB 760,800,000, primarily due to a reduction in the area of delivered properties[30]. - Other income and gains decreased by approximately RMB 3,782,900,000 to about RMB 1,992,700,000, attributed to the sale of subsidiaries[30]. - Total liabilities decreased by approximately 36.5% to about RMB 10,113,100,000 from RMB 15,878,900,000[34]. - Total assets decreased to approximately RMB 12,648,600,000 from RMB 18,267,400,000, reflecting a decline in property values[34]. - Cash and cash equivalents increased to approximately RMB 725,900,000 from RMB 683,900,000[35]. - The company’s basic and diluted earnings per share were approximately RMB 13.71, down from RMB 23.53 in the previous period[31]. Business Strategy and Operations - The company plans to gradually invest resources into new financial services, including investment and management of special opportunity assets[12]. - The company aims to focus on the integration of technology and real estate, promoting a diversified ecological development model[12]. - The company will continue to optimize its asset-liability structure by divesting from underperforming real estate businesses[10]. - The company is actively managing risks and ensuring stable operations while advancing project deliveries in response to changing internal and external environments[25]. - The company is transitioning from traditional IT distribution to e-commerce platforms, influenced by legal challenges from creditors and former major shareholders[29]. - The company has entered into equity transfer agreements to sell 100% of the issued share capital of certain subsidiaries for HKD 1,000,000 and RMB 1,000,000, respectively, which will result in the company no longer having any interests in these target groups[63]. - The company aims to maintain satisfactory performance growth and enhance shareholder value by identifying profitable investment opportunities aligned with its development strategy[65]. - The company has no specific future plans for major investments or capital assets as of March 31, 2023, but is actively seeking new investment opportunities in real estate and e-commerce to enhance revenue and shareholder value[52]. Legal and Compliance Issues - The group is involved in significant legal proceedings, including a civil lawsuit regarding an outstanding debt of approximately RMB 1,458.5 million[47]. - The group is also facing a civil lawsuit concerning an unpaid trust loan of RMB 620 million, with ongoing negotiations for debt settlement[48]. - The group has a contingent liability of approximately RMB 1.05 billion related to unpaid debts, including interest accrued until November 10, 2021[49]. - The group maintains a policy of conducting transactions only with reputable third parties, continuously monitoring accounts receivable to mitigate bad debt risk[41]. - The group is actively responding to legal proceedings and negotiating settlements for outstanding debts with involved parties[47]. - Zhejiang Resources is involved in a civil lawsuit regarding unpaid construction project payments totaling approximately RMB 105.3 million[50]. - Western Trust has filed a civil lawsuit against Zhejiang Resources for an unpaid loan principal of approximately RMB 300 million, with total claims including interest and penalties amounting to approximately RMB 389.4 million[50]. - A court ruling in March 2023 confirmed that Zhejiang Resources must repay the outstanding principal, interest, and penalties to Western Trust[50]. Corporate Governance - The board consists of four executive directors and three independent non-executive directors, with no significant relationships among them[76]. - The company has adopted all provisions of the Corporate Governance Code as per the Listing Rules, demonstrating commitment to high governance standards[74]. - The board aims to maintain at least one female director in the future, with decisions based on the strengths and contributions of selected candidates[92]. - The remuneration committee held two meetings during the reporting period to review and discuss the remuneration policies for all directors[87]. - The audit committee held a total of five meetings during the reporting period, reviewing the independent auditor's report on the annual financial statements and discussing the group's internal controls[98]. - The company has adopted an insider information disclosure policy to ensure timely and fair public announcements of material information[103]. - The company continues to adopt a going concern basis in preparing its consolidated financial statements, with no significant uncertainties affecting its ability to operate[105]. - The company encourages continuous professional development for all directors to enhance their knowledge and skills in corporate governance[81]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development and has integrated ESG management into its core business strategy[118]. - The ESG report was prepared in accordance with the guidelines set forth by the Hong Kong Stock Exchange[120]. - The report quantifies key performance indicators and includes supplementary explanations for disclosed data[122]. - The group aims to reduce operational negative impacts on the environment and society, integrating sustainability into all business sectors[138]. - The group has identified five core areas for its sustainability strategy: environment, employees, customers, supply chain, and community[138]. - The group supports the United Nations Sustainable Development Goals (SDGs) and has selected eight goals most relevant to its business[139]. - The group conducts regular meetings to assess the effectiveness of current policies and develop solutions to enhance overall ESG performance[136]. - The group emphasizes communication with stakeholders, including investors, customers, suppliers, employees, and regulatory bodies, to incorporate their expectations into ESG strategies[147]. - The group aims to create long-term value for stakeholders through sustainable development initiatives[144]. - The company identified 8 high-importance environmental issues and 10 social issues for the fiscal year 2022 based on its operational focus and stakeholder expectations[151]. Market Trends and Economic Outlook - The outlook for the real estate industry in 2023 remains cautiously optimistic, with expectations of slow recovery in the Chinese economy and ongoing geopolitical uncertainties affecting consumer confidence[66]. - The e-commerce market in China is expected to continue rapid growth in 2023, driven by post-pandemic consumption trends and government policies aimed at expanding domestic demand[70]. - The digital economy in China is expected to see the core industry contribute 10% to GDP by 2025, highlighting the growth potential in the ICT distribution sector[163]. - The demand for ICT products is increasing due to accelerated digital transformation in government and enterprises, driven by remote work and learning needs[163]. - The real estate sector has seen favorable policies, including reduced mortgage rates and increased loan limits, contributing to a more stable market environment[166]. Sustainability and Environmental Impact - The group aims to reduce electricity and water consumption by 5%, non-hazardous materials by 8%, and greenhouse gas emissions by 10% by 2030[173]. - The group reported a reduction in sulfur oxides (SOx) emissions to 0.60 kg in 2022 from 2.21 kg in 2021[176]. - The group implemented measures to encourage public transport use, aiming to reduce reliance on private vehicles and lower greenhouse gas emissions[175]. - The total number of employees decreased to 478 in 2022 from 891 in 2021, impacting greenhouse gas emissions per employee[180]. - The group has adopted a "sponge city" design concept to utilize rainwater, reducing the demand for fresh water[179]. - The group has no harmful waste emissions as all hazardous waste is handled by qualified disposal companies[181]. - Total harmless waste emissions decreased to 24.72 tons in 2022 from 117.00 tons in 2021, representing a reduction of approximately 78.8%[185]. - The group reported a packaging consumption of 0.3 tons in the reporting period, with an average consumption of approximately 0.00063 tons per employee[196]. - The company strictly adheres to the Environmental Protection Law of the People's Republic of China and the Solid Waste Pollution Prevention and Control Law, which outline requirements for pollutant emissions and energy management[200].