Group 1 - The core point of the article is that Tongtong AI Social (00628.HK) has announced a new agreement with Gome Xinda and the borrower Ningbo Multilateral Huishang International Trade Co., Ltd., which will take effect on August 26, 2025, when the previous agreement expires [1] - Under the new agreement, Gome Xinda can provide factoring loans to the borrower during the term, with the total outstanding balance not exceeding RMB 210 million [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 佈 之 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，概不就因本公佈全部 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。 Tong Tong AI Social Group Limited 通 通 AI 社 交 集 團 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：628） – 1 – 新協議 新協議之主要條款載列如下。 日期 二零二五年八月二十六日 訂約方： 須予披露交易 就提供保理貸款 與寧波多邊惠商國際貿易有限公司訂立新框架協議 茲提述本公司日期為二零二二年八月二十六日之公佈，內容有關根據先前協議 向借款人提供保理貸款。 由於先前協議之年期將於二零二五年八月二十六日屆滿，於二零二五年八月二 十六日，國美信達與借款人訂立新協議，據此，國美信達可於年期內不時向借 款人提供保理貸款，惟於年期內不時之尚未償還餘額總額不得超過人民幣2.1億 元。 由於根據新協議擬進行交易有關之上市規則第14.07條之最高適用百分比率高於 5 %但低於25 %，訂立 ...

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之內容概不 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。 董事會會議召開日期 通 通 AI 社交集團有限公司 Tong Tong AI Social Group Limited （於百慕達註冊成立之有限公司） （股份代號：628） 香港，二零二五年八月十九日 於本公告日期，本公司執行董事為周亞飛先生及宋晨曦先生；非執行董事為 魏婷女士及吳茜女士；以及獨立非執行董事為麥佑基先生、羅文鈺教授及黃 嵩教授。 通通AI社交集團有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈，本公司 將於二零二五年八月二十九日（星期五）舉行董事會會議，藉以（其中包括）考 慮及批准本公司及其附屬公司截至二零二五年六月三十日止六個月之未經審 核中期業績及其刊發、考慮派發中期股息的建議（如有）及處理任何其他事項。 承董事會命 通通AI社交集團有限公司 主席 周亞飛 ...

截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 通通AI社交集團有限公司 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00628 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 5,201,123,120 | | 0 | | 5,201,123,120 | | 增加 / 減少 (-) | | | 0 | | | | | | 本月底結存 | | | 5,201,123,120 | | 0 | | 5,201,123,120 | 第 2 頁 ...

Financial Performance - For the fiscal year ending December 31, 2024, the company reported a revenue increase of 222.1%, rising from RMB 82 million in the previous year to RMB 264.1 million[13]. - The company's profit before tax also saw a significant increase of 47.1%, from RMB 46.1 million to RMB 67.8 million[13]. - The company recorded a profit attributable to owners of RMB 39,600,000, an increase from RMB 37,000,000 in the corresponding period, primarily due to significant revenue growth and reduced financial costs[17]. - The group recorded an operating profit of RMB 67,800,000, compared to RMB 46,100,000 in the corresponding period, with net profit attributable to the company’s owners at RMB 39,600,000, up from RMB 37,000,000[40]. - The company's revenue increased significantly by RMB 182,100,000 or 222.1% to RMB 264,100,000 during the reporting period, compared to RMB 82,000,000 in the corresponding period, primarily due to the acquisitions of CashBox and Beijing Liheng, as well as the expansion of commercial factoring and other financial services[34]. Acquisitions and Strategic Developments - The acquisition of CashBox Group Technology (Hong Kong) Limited contributed RMB 139.9 million to the company's revenue following its acquisition on June 21, 2024[13]. - The company also acquired Beijing Liheng Group in August 2024, which added RMB 10.5 million to its revenue[13]. - CashBox's acquisition of Beijing Liheng Group will allow the company to consolidate its financial performance into the group’s financial statements, enhancing its operational control and economic benefits[14]. - The acquisition of Tianjin Guanchuang is still pending approval from the People's Bank of China, which has not been obtained as of December 31, 2024[64]. - The company believes that the acquisition of Tianjin Guanchuang will play a crucial role in its business development and create more growth opportunities and synergies[66]. Business Strategy and Market Focus - The company is focusing on the integration of financial technology and the real economy, aiming to enhance service efficiency and quality through technological empowerment[10]. - The company plans to expand its digital internet ecosystem by integrating new technologies and business lines, particularly in the context of Web 3.0[10]. - The company aims to maintain a stable financial performance while optimizing its revenue structure to create new growth momentum for brand value[10]. - The company aims to develop a multi-dimensional interconnected business ecosystem under the new Web 3.0 model, connecting users and merchants to enhance its overall internet service capabilities[33]. - The company is committed to responding to national policy directions by promoting inclusive finance and digital transformation[10]. Revenue Sources and Growth Areas - Revenue from commercial factoring increased by RMB 4,600,000 or 6.1% to RMB 80,400,000, driven by an expansion in commercial factoring loan scale in China[17]. - Revenue from other financial services surged by RMB 27,100,000 or 437.1% to RMB 33,300,000, attributed to strengthened business promotion efforts during the reporting period[17]. - The commercial factoring business recorded an increase in income to RMB 80,400,000, up from RMB 75,800,000 in the corresponding period, driven by an increase in loan amounts to high-quality clients from RMB 1.5 billion to RMB 1.8 billion[25]. - The income from other financial services surged to RMB 33,300,000, a significant increase from RMB 6,200,000 in the corresponding period, attributed to enhanced business promotion efforts[27]. Economic and Market Trends - The overall economic growth target for China in 2024 was successfully achieved at 5%, despite geopolitical challenges[6]. - The global supply chain finance industry in China reached approximately RMB 41.3 trillion in 2023, growing by 11.9% year-on-year, with a projected compound annual growth rate of 20.88% over the next five years[20]. - The number of internet users in China is expected to reach 1.108 billion by December 2024, with an internet penetration rate of 78.6%[21]. - The global gaming market is projected to reach RMB 1,216.335 billion in 2024, reflecting a year-on-year growth of 3.31%[21]. - The market for Web3.0-related businesses is expected to reach USD 800 billion in 2024 and rapidly increase to USD 1.5 trillion by 2030, indicating a significant shift in traditional business models[23]. Corporate Governance and Management - The company appointed Mr. Zhou Yafei as Executive Director and Chairman of the Board starting from March 26, 2021, with extensive experience in finance and accounting[86]. - Mr. Song Chenxi rejoined the company as Chief Financial Officer in October 2023, having previously held various financial management roles in other companies[87]. - The company is actively expanding its board with experienced professionals to enhance governance and strategic oversight[95]. - The strategic committee is chaired by Mr. Zhou Yafei, indicating a strong focus on long-term growth strategies[86]. - The company is committed to maintaining high standards of corporate governance through its audit and remuneration committees[89]. Risks and Compliance - The VIE contract with Beijing Liheng may not comply with future Chinese regulatory changes, posing significant risks to the company's operations[149]. - The VIE contract may not provide effective control over Beijing Liheng compared to direct ownership, potentially impacting governance and management decisions[150]. - The company may incur economic risks due to operational difficulties faced by Beijing Liheng, although it is not liable for its losses[158]. - The implementation of the new Foreign Investment Law in China introduces uncertainties regarding the validity of Beijing Liheng's contractual arrangements[160]. - The board will review compliance with the Beijing Liheng contractual arrangements at least annually and may hire external legal advisors if necessary[163]. Financial Position and Capital Structure - The total equity of the group as of December 31, 2024, was RMB 2,465,100,000, an increase from RMB 1,684,200,000 as of December 31, 2023[73]. - Cash and cash equivalents decreased to RMB 130,500,000 as of December 31, 2024, down from RMB 284,400,000 as of December 31, 2023[73]. - The group completed the acquisition of CashBox, issuing 2,500,000,000 new ordinary shares at HKD 0.08 per share, increasing the total number of issued shares to 5,201,123,120 as of December 31, 2024[76]. - The company has a total issued share capital of 5,201,123,120 shares as of December 31, 2024[187]. - The group recorded cash outflow from operating activities of RMB 152,300,000 during the reporting period, compared to RMB 84,200,000 in the corresponding period[74].

Financial Performance - The company's revenue increased significantly from RMB 82,000,000 in the previous year to RMB 264,100,000, representing a growth of 222.1%[3] - Operating profit rose from RMB 46,100,000 to RMB 67,800,000, marking an increase of 47.1%[3] - The net profit attributable to the company was RMB 39,600,000, compared to RMB 37,000,000 in the previous year[3] - Total comprehensive income for the year was RMB 88,302,000, up from RMB 51,880,000[7] - Basic earnings per share increased from 0.98 to 1.37[5] - The company reported a pre-tax profit of RMB 67,770 million for the year, resulting in a net profit of RMB 58,506 million after tax expenses of RMB 9,264 million[19] - The group recorded a profit attributable to owners of the company of RMB 39,600,000, up from RMB 37,000,000 in the corresponding period[72] Dividend Policy - The company does not recommend the distribution of a final dividend for the reporting period[4] - The board does not recommend the payment of a final dividend for the reporting period[73] - The company did not recommend any dividend distribution for the years ended December 31, 2024, and December 31, 2023[32] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 2,525,904,000, an increase from RMB 1,684,195,000 in 2023, reflecting a growth of approximately 50%[9] - Non-current assets totaled RMB 1,125,393,000, compared to RMB 371,533,000 in the previous year, indicating a significant increase of about 202%[9] - Current assets reached RMB 1,482,098,000, up from RMB 1,330,673,000, representing a growth of approximately 11.4%[9] - The company's net equity stood at RMB 2,465,067,000, a substantial rise from RMB 1,684,195,000, marking an increase of around 46%[10] - The total liabilities decreased to RMB 60,837,000 from RMB 1,684,195,000, showing a reduction of approximately 96.4%[10] Market Expansion and Strategy - The company plans to continue expanding its market presence and developing new technologies[3] - The management indicated a positive outlook for the upcoming fiscal year, anticipating continued growth in user data and market share[11] - The company aims to become a market leader in "Technology + Finance" integrated services[73] - The group plans to leverage opportunities in the supply chain finance industry, which is projected to grow at a compound annual growth rate of 10.3% over the next five years, exceeding RMB 60 trillion by 2027[133] Acquisitions and Business Segments - The group has started engaging in game development and publishing, as well as acquiring several companies including Guomei Xin International Investment Limited and CashBox Group Technology (Hong Kong) Limited[16] - The acquisition of CashBox Group Technology contributed RMB 139,900,000 to the group's revenue[67] - The acquisition of Beijing Liheng Group is expected to enhance the company's overall internet service capabilities and diversify its business in a challenging market environment[93] - The company completed the acquisition of 100% of the issued shares of Guomei Xin International Investment Limited, which indirectly holds 47.7% equity in CashBox, and acquired a 3.3% interest in CashBox[142] Financial Services and Revenue Streams - The company's main business includes investment holding and providing commercial factoring and other financial services in China[12] - Revenue from commercial factoring increased by RMB 4,600,000 or 6.1% to RMB 80,400,000[71] - Revenue from other financial services surged by RMB 27,100,000 or 437.1% to RMB 33,300,000[71] - The business segment generated revenue of RMB 80,371 million, while the financial services segment contributed RMB 33,331 million[19] Credit Management and Risk Assessment - The company maintained a strong liquidity position with no overdue loans reported, reflecting robust financial health[36] - The expected credit loss provision for commercial factoring loans was RMB 14,944,000 in 2024, up from RMB 11,473,000 in 2023, indicating a rise of 30.1%[35] - The company is focusing on enhancing the quality of borrowers by evaluating their scale and strength to mitigate risks[121] - The company has established its own credit policies and approval procedures for loan applications[115] Employee and Operational Performance - The group employed a total of 381 employees as of December 31, 2024, compared to 31 employees as of December 31, 2023, with total employee compensation amounting to RMB 20,100,000 during the reporting period[147] - Administrative expenses increased to RMB 56,000,000 from RMB 25,200,000, mainly due to the acquisition of CashBox and Beijing Liheng, resulting in a rise in employee costs[98] Economic Outlook and Industry Trends - The global economic growth is projected at 3.2%, with China's GDP growth expected to reach 5%[74] - The scale of China's supply chain finance industry reached approximately RMB 41.3 trillion in 2023, representing a year-on-year growth of 11.9% and a five-year compound annual growth rate of 20.88%[75] - The market for Web 3.0-related businesses is projected to reach USD 800 billion in 2024, rapidly climbing to USD 1.5 trillion by 2030[80] Compliance and Governance - The company has adhered to all corporate governance codes as stipulated by the Hong Kong Stock Exchange, with no significant deviations reported[148] - The Audit Committee has been established in accordance with Listing Rule 3.21, consisting of four members, including three independent non-executive directors[162]

Financial Performance - The company reported a significant increase in revenue, rising from RMB 39.6 million in the corresponding period to RMB 60.8 million, representing a growth of 53.5%[14]. - The pre-tax profit surged from RMB 3.5 million to RMB 33.6 million, marking an increase of 860%[14]. - The company recorded a profit attributable to owners of RMB 25.3 million, compared to a loss of RMB 2.2 million in the corresponding period[14]. - The group recorded a net profit after tax of RMB 25,400,000 during the interim period, compared to a net loss of RMB 2,200,000 in the corresponding period[24]. - The company achieved a profit before tax of RMB 33,596,000, compared to RMB 3,506,000 in the previous year, indicating a significant improvement[50]. - The net profit for the period was RMB 25,388,000, a turnaround from a loss of RMB 2,229,000 in the same period last year[50]. - Total comprehensive income for the period was RMB 33,613,000, up from RMB 29,984,000 in the previous year, reflecting a growth of 12.2%[51]. - The company’s basic earnings per share increased to RMB 0.89, compared to a loss per share of RMB 0.08 in the previous year[51]. Revenue Sources - Revenue from other financial services increased by 423.3%, from RMB 3 million to RMB 15.7 million, due to enhanced business promotion efforts[14]. - Revenue from commercial factoring increased by 7.1%, from RMB 36.6 million to RMB 39.2 million, driven by the expansion of commercial factoring loan scales in China[14]. - Revenue from financial information services rose to RMB 15,700,000 during the interim period, up from RMB 3,000,000 in the corresponding period, driven by enhanced business promotion efforts[20]. - For the six months ended June 30, 2024, total revenue from external customers was RMB 60,804,000, with contributions of RMB 39,172,000 from commercial factoring, RMB 15,659,000 from other financial services, and RMB 5,973,000 from game development and publishing[70]. Business Strategy and Development - The company aims to become a leading "technology + finance" integrated service group, exploring new business opportunities in the digital economy and Web3.0[15]. - Management believes that continuous development of the "technology + finance" integrated service business will lead to steady growth[15]. - The company aims to leverage emerging technologies like big data and AI to enhance service capabilities and explore diversified financial service solutions[16]. - The group aims to optimize supply chain financial services and explore new paths for "technology + finance" integration to enhance operational efficiency[38]. Economic Context - In the first half of 2024, China's GDP grew by 5.0%, with a second-quarter growth rate of 4.7%, indicating a slowdown compared to the first quarter[16]. - The global economic growth rate is expected to decline to around 2.9% in 2024, influenced by tightening monetary policies and geopolitical tensions[16]. - The digital economy's core industry value-added is projected to account for 10% of GDP by 2025, as per the "14th Five-Year Plan" for digital economy development[17]. - As of December 2023, the number of internet users in China reached 1.092 billion, with an internet penetration rate of 77.5%[17]. Operational Metrics - The average loan balance net amount increased by RMB 112,000,000 or 11.5% to RMB 1,090,000,000 during the reporting period[18]. - The total balance of ordinary loans increased to RMB 1,172,400,000 as of June 30, 2024, from RMB 1,054,800,000 as of December 31, 2023, due to the expansion of commercial factoring business[27]. - The average interest rate for commercial factoring business during the period was approximately 7.2% to 8.0%[31]. - The company continues to focus on high-quality clients, resulting in a decrease in the number of clients but an increase in the loan amount for commercial factoring[18]. Acquisitions and Investments - The acquisition of CashBox Group Technology (Hong Kong) Limited contributed an additional RMB 6 million to revenue[14]. - The company has paid RMB 576,000,000 as a non-current asset under prepayments for the acquisition of Tianjin Guanchuang Meitong E-commerce Co., Ltd., which is still pending approval from the People's Bank of China[34]. - The renewal of the payment business license for Tianjin Guanchuang was successfully completed, valid until January 2028, allowing the company to proceed with the acquisition application[35]. - The company anticipates that the acquisition of Tianjin Guanchuang will provide significant development opportunities and synergies for future growth[35]. - The company completed the acquisition of 100% of the issued shares of Gome Xin International Investment, which indirectly holds 47.7% of CashBox, making it a wholly-owned subsidiary[41]. Financial Position - As of June 30, 2024, the total equity of the group was RMB 2,435,200,000, an increase from RMB 1,684,200,000 as of December 31, 2023[39]. - The group's cash and cash equivalents decreased to RMB 194,100,000 from RMB 284,400,000 as of December 31, 2023, indicating improved fund utilization[39]. - The liquidity ratio as of June 30, 2024, was 26.1, down from 73.9 as of December 31, 2023[39]. - The total non-current assets amounted to RMB 1,047,358,000 as of June 30, 2024, a significant increase from RMB 371,533,000 at the end of 2023[52]. - The total liabilities for trade payables were RMB 28,124,000 as of June 30, 2024, compared to RMB 50,000 as of December 31, 2023[101]. Governance and Compliance - The company has adopted the corporate governance code as per the Listing Rules and has complied with all provisions except for certain deviations[116]. - The audit committee consists of three independent non-executive directors and one non-executive director, ensuring compliance with listing rules[124]. - The board of directors includes two executive directors, two non-executive directors, and three independent non-executive directors[125]. - The company is committed to maintaining compliance with updated accounting standards and ensuring accurate financial reporting[59]. Shareholder Information - Swiree Capital Limited holds 1,653,073,872 shares, representing 31.78% of the company's issued share capital[114]. - Du Juan holds a total of 2,185,286,341 shares through her spouse, representing 42.02% of the company's issued share capital[114]. - Mega Bright Capital Resources Limited, controlled by Huang Guangyu, also holds 2,185,286,341 shares, accounting for 42.02% of the total[114]. - The total number of issued shares as of June 30, 2024, is 5,201,123,120 shares[115].

Financial Performance - Revenue increased significantly from RMB 39,600,000 for the six months ended June 30, 2023, to RMB 60,800,000 for the six months ended June 30, 2024, representing a growth of approximately 53.5%[2] - Operating profit surged by 860% to RMB 33,600,000 for the six months ended June 30, 2024, compared to RMB 3,500,000 for the same period in 2023[2] - The net profit for the six months ended June 30, 2024, was RMB 25,400,000, a turnaround from a loss of RMB 2,200,000 in the same period of 2023[2] - Basic earnings per share for the six months ended June 30, 2024, was RMB 0.89, compared to a loss per share of RMB 0.08 for the same period in 2023[4] - The adjusted profit before tax for the group was RMB 33,596,000, with a net profit of RMB 25,388,000 for the six months ended June 30, 2024[22] - The group's profit before tax for the six months ended June 30, 2024, was RMB 25,275,000, compared to a loss of RMB 2,229,000 for the same period in 2023, indicating a significant turnaround[30] - The company reported a profit attributable to owners of RMB 25,300,000, a significant increase from a loss of RMB 2,200,000 in the corresponding period[49] - The company recorded a net profit after tax of RMB 25,400,000, compared to a net loss of RMB 2,200,000 in the previous period[59] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 2,488,644,000, an increase from RMB 1,684,195,000 as of December 31, 2023[5] - The total assets of the group as of June 30, 2024, amounted to RMB 2,490,644,000, with total liabilities of RMB 55,401,000[23] - Non-current assets increased to RMB 1,047,358,000 as of June 30, 2024, compared to RMB 371,533,000 as of December 31, 2023[5] - The total balance of ordinary loans increased to RMB 1,172,394,000 as of June 30, 2024, from RMB 1,054,831,000 as of December 31, 2023, due to the expansion of the commercial factoring business[63] - The expected credit loss provision increased to RMB 13,347,000 as of June 30, 2024, from RMB 11,473,000 as of December 31, 2023, attributed to the increase in receivables[64] Revenue Streams - The revenue from commercial factoring business was RMB 39,172,000, while other financial services generated RMB 15,659,000, and game development and publishing contributed RMB 5,973,000[22] - Revenue from advertising services was RMB 255,000, while recharge service revenue reached RMB 5,718,000, indicating diversification in revenue streams[25] - The company recorded an increase in income from other financial services to RMB 15,700,000, up from RMB 3,000,000 in the previous period, driven by enhanced business promotion efforts[54] - The revenue from the commercial factoring business increased by RMB 2,600,000 or 7.1%, reaching RMB 39,200,000, attributed to the expansion of commercial factoring loan scales in China[49] - The company’s revenue increased by RMB 21,200,000 or 53.5% to RMB 60,800,000 during the reporting period, primarily due to the expansion of commercial factoring and other financial services, as well as the acquisition of CashBox[55] Acquisitions and Investments - The company completed a capital reorganization on June 21, 2024, reducing the par value of shares from HKD 0.1 to HKD 0.01 and issuing 2,500,000,000 shares for the acquisition of a subsidiary, totaling RMB 522,303,000[43] - The acquisition of CashBox contributed an additional RMB 6,000,000 to revenue following its completion on June 21, 2024[49] - The goodwill generated from the acquisition of CashBox amounted to RMB 450,850,000, calculated from the transfer price of RMB 522,303,000, non-controlling interests of RMB 195,132,000, and identifiable net assets of RMB 266,585,000[47] - The company acquired 100% of the issued shares of Gome Xin International Investment, which indirectly holds a 47.7% stake in CashBox, making it a wholly-owned subsidiary[79] Employee and Administrative Expenses - Employee benefits expenses increased to RMB 7,498,000 for the six months ended June 30, 2024, up from RMB 5,002,000 in the same period of 2023, reflecting a 49.9% increase[27] - The total employee compensation (excluding directors' remuneration) for the period was approximately RMB 6,500,000, compared to RMB 4,300,000 in the corresponding period[83] - The company's administrative expenses rose to RMB 15,800,000, an increase of RMB 5,900,000 from the previous period, mainly due to legal and professional fees related to the CashBox acquisition[57] Financial Management and Policies - The group maintained a prudent treasury policy, with all bank deposits in HKD, RMB, and USD, and no hedging policies were adopted[82] - The company has no overdue loans as of June 30, 2024, indicating strong credit management practices[33] - The group recorded cash outflow from operating activities of RMB 89,100,000, compared to RMB 122,100,000 in the corresponding period, primarily due to an increase in trade receivables and loans receivable of RMB 116,800,000[76] Regulatory and Compliance - The group has adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2024, including HKFRS 16 related to lease liabilities in sale and leaseback transactions[9] - The company is awaiting the completion of regulatory approvals for the change of control of Tianjin Guanchuang, which remains pending as of the reporting date[37] - The renewal of Tianjin Guanchuang's payment business license is valid until January 2028, which is expected to provide a clearer approval timeline from the People's Bank of China[71] - The company plans to resubmit approval materials to the People's Bank of China after the new regulations come into effect on May 1, 2024[71] Future Outlook and Strategy - The company plans to continue exploring new business opportunities in the digital economy and Web 3.0 to drive growth and diversify its strategic transformation[50] - The company is actively seeking to enhance its financial technology innovation capabilities by leveraging emerging technologies such as big data, blockchain, and artificial intelligence[52] - The company aims to optimize supply chain financial services and enhance risk awareness while exploring the integration of technology and finance[74]

Corporate Governance - The board of directors discussed the overall strategy, annual and interim performance, internal controls, corporate governance, capital, financial matters, and acquisitions for the year ending December 31, 2023[2]. - The remuneration committee reviewed the compensation of executive directors and senior management, ensuring compliance with corporate governance codes[15]. - The audit committee consists of four independent non-executive directors, ensuring independent oversight of financial reporting and compliance[22]. - The company secretary has undergone professional training as required by listing rules, ensuring compliance with governance standards[25]. - The board of directors is responsible for appointing and reappointing directors, ensuring they possess relevant expertise and contribute to the company's decision-making process[32]. - The nomination committee is tasked with recommending candidates for board appointments, considering their achievements and experience in relevant industries[20]. - The board of directors held eight meetings during the review year to discuss overall strategy, operational and financial performance, and approve annual and interim reports[43]. - The board consists of executive, non-executive, and independent directors, ensuring a balanced skill set and expertise to support sustainable development[101]. - The board of directors and senior management play a crucial role in the risk management and internal control compliance system, with regular meetings to monitor business risks and review financial data[107]. - The board is responsible for setting strategic guidance and overseeing business performance, with qualified management handling daily operations[131]. ESG Commitment - The company is committed to enhancing transparency and promoting investor relations, valuing shareholder feedback[34]. - The ESG report covers the financial year from January 1, 2023, to December 31, 2023, focusing on key performance indicators related to environmental, social, and governance aspects[37]. - The company will continue to review other potential ESG aspects to determine their inclusion in future reports[38]. - The company emphasizes the importance of integrating ESG risk management into its business strategy to ensure long-term sustainable development[40]. - A cross-departmental working group has been established to identify significant ESG issues and monitor business performance based on ESG indicators and initiatives[40]. - The company aims to maintain consistency in its ESG reporting methodology compared to the previous year for comparability[39]. - The company has established a governance structure to enhance the management of ESG matters, with a working group formed by senior management to support the board in executing ESG strategies and objectives[76]. - The company has identified 13 sustainability issues based on stakeholder feedback, categorizing them into six groups, including environmental protection and compliance[98]. - The board is committed to ensuring the accuracy of the ESG report, preventing false statements or significant omissions, and will continue to review progress against set goals[78]. - The company is committed to sustainable development and has released an ESG report detailing its strategies and overall ESG performance[63]. Risk Management and Compliance - The company emphasizes the importance of compliance and risk management as the foundation for healthy development, continuously strengthening compliance management and internal control mechanisms[75]. - The audit committee is responsible for reviewing the financial statements and monitoring the financial reporting, risk management, and internal control systems[48]. - The company maintains a robust risk management framework, with clear responsibilities for risk identification, assessment, monitoring, and reporting[82]. - The group has established an internal control system to ensure compliance and mitigate risks, emphasizing the importance of a standardized business process to prevent legal liabilities and regulatory penalties[105]. - The group has implemented internal supervision mechanisms and anonymous reporting channels to enhance compliance operations and prevent corruption[86]. - The group has implemented anti-corruption training for employees and management to enhance integrity and improve supervision mechanisms, aiming to foster a clean corporate culture[110]. - The company has implemented anti-money laundering policies and training for employees to mitigate risks associated with high credit risk transactions[133]. - The company is committed to enhancing its anti-money laundering practices and regularly trains employees to raise awareness and skills[138]. - During the reporting period, there were no lawsuits against the group or its employees related to corruption, bribery, or money laundering[164]. Stakeholder Engagement - The company engages with various stakeholders, including customers, government, suppliers, and the community, to promote transparency and corporate social responsibility[69]. - The company believes that stakeholder engagement is crucial for business success and actively seeks opportunities to improve products and services based on stakeholder insights[93]. - The company has adopted a shareholder communication policy to provide clear and comprehensive performance information through interim and annual reports[60]. Employee Welfare and Development - The company provides diverse training programs for employees to enhance their job competencies, with a commitment to employee welfare and development[145]. - The employee turnover rate during the reporting period is not specified, but the company offers various benefits to maintain a comfortable work environment[160]. - The company strictly adheres to labor laws and regulations, ensuring no child or forced labor is employed[150]. - The employee demographics show a total of 31 employees, with 14 males and 17 females, and the majority (23) aged between 31-51 years[153]. - The group provided training for 24 employees, totaling 254 hours, with an average training time of 8.19 hours per employee, representing 77% of the workforce[174]. - The group has a 100% coverage rate for social insurance for all contract employees[176]. Environmental Impact - The total greenhouse gas emissions increased to 42.35 tons of CO2 equivalent, with a density of 1.57 tons of CO2 equivalent per person, down from 2.02 in the previous year[191][193]. - The group aims to maintain its greenhouse gas emissions density at 90% to 120% of the baseline level by the end of the next reporting period[193]. - The total amount of paper waste increased to 165.73 kg in 2023 from 118.13 kg in 2022[197]. - The total density of harmless waste per person decreased to 6.14 kg in 2023 from 6.56 kg in 2022[197]. - The company is committed to energy conservation through various measures aimed at reducing energy consumption in the long term[200]. - The group has prioritized suppliers with environmental certifications, such as ISO 14001, in its procurement process[185]. Customer Relations - The company emphasizes a customer-centric service philosophy, focusing on customer needs and privacy protection[140]. - The group has adopted strict customer service standards to prevent false advertising and deceptive practices, ensuring regular communication with clients to assess their business needs[127]. - There were no confirmed incidents of customer information leakage during the reporting period[167]. - The group has not received any customer complaints regarding its products and services during the reporting period[169].

Financial Performance - Revenue for 2023 reached RMB 82,024 thousand, a 2.25% increase from RMB 80,219 thousand in 2022[2] - Operating profit for 2023 was RMB 46,084 thousand, compared to RMB 54,508 thousand in 2022, reflecting a decrease of 15.5%[2] - Net profit for the year was RMB 36,997 thousand, a significant recovery from a loss of RMB 5,638 thousand in 2022[2] - Basic earnings per share for 2023 was RMB 1.37, compared to a loss of RMB 0.21 per share in 2022[2] - The company reported a total of RMB 51,880 thousand in comprehensive income for 2023, down from RMB 80,267 thousand in 2022[3] - The company recorded a profit before tax of RMB 46,100,000, an increase of RMB 42,600,000 compared to the previous year's profit before tax of RMB 3,500,000[54] - The company recorded a net profit after tax of RMB 37,000,000 for the year, compared to a net loss after tax of RMB 5,600,000 in the previous year[54] - The company reported a pre-tax profit of RMB 4,901,000 for the year 2023, a significant decrease from RMB 30,238,000 in 2022[179] Assets and Liabilities - Total current assets decreased to RMB 1,330,673 thousand in 2023 from RMB 1,664,091 thousand in 2022, a decline of 20.0%[4] - Total assets minus current liabilities increased to RMB 1,684,195 thousand in 2023 from RMB 1,632,880 thousand in 2022, an increase of 3.2%[4] - As of December 31, 2023, total assets were valued at RMB 1,702,206,000, with allocated assets of RMB 1,242,059,000[173] - The asset-to-liability ratio was 0.38% as of December 31, 2023, a significant decrease from 24.10% a year prior, due to the repayment of all bank loans[95] - The total liabilities for the year included no lease liabilities, indicating a potential reduction in financial obligations[188] Revenue Segments - The business factoring segment contributed 92% of the company's total revenue for the year, emphasizing its importance as the main income source[30] - Revenue from commercial factoring business increased to RMB 75.8 million in 2023, up from RMB 70.1 million in 2022[40] - Other financial services revenue decreased from RMB 10.1 million in 2022 to RMB 6.2 million in 2023, due to restrictions on app content in some mobile application stores[40] - The company's financial services segment generated RMB 238,000 in revenue for the year 2023[173] Credit and Loans - Trade receivables and loans receivable increased to RMB 1,043,488 thousand in 2023 from RMB 921,235 thousand in 2022, marking a growth of 13.3%[4] - The expected credit loss provision was RMB 3,400,000, significantly lower than the previous year's provision of RMB 43,000[55] - The expected credit loss provision for accounts receivable was RMB 11,473 million as of December 31, 2023, compared to RMB 8,068 million in the previous year[152] - The non-performing loan ratio remained at 0%, with no provisions required for bad debts[76] Operational Efficiency - The company has focused on improving the quality of commercial factoring clients, resulting in a decrease in the number of clients but an increase in loan scale[40] - The company has implemented strict risk control measures for new loans and accounts receivable, resulting in no new overdue items during the year[62] - The company maintained stable interest rates charged to commercial factoring borrowers[40] Strategic Initiatives - The company plans to continue expanding its financial services in China, focusing on commercial insurance and other financial services[12] - The company is actively seeking additional opportunities to increase revenue, particularly in the gaming industry, and is progressing with the proposed acquisition of CashBox[34] - The company is exploring the acquisition of CashBox, which is expected to leverage its extensive user base and enhance business diversification[93] - The company is actively pursuing the acquisition of Tianjin Guanchuang, with a payment of RMB 576,000,000 made as a prepayment, which has been classified as a non-current asset since 2019[114] Economic Environment - The overall economic environment remains challenging, but China's GDP exceeded RMB 126 trillion in 2023, with a year-on-year growth of 5.2%[32] - The People's Bank of China maintained the 1-year LPR at 3.45% and reduced the 5-year LPR by 25 basis points to 3.95%, indicating a more accommodative financing environment[119] - The International Monetary Fund (IMF) projected global growth of 3.1% for 2024, an improvement from 2023, driven by stronger-than-expected resilience in the US and some large emerging markets[118] Governance and Compliance - The company has established an audit committee to review and supervise financial reporting procedures and risk management[140] - The company has complied with the corporate governance code, although it has not strictly adhered to certain provisions due to the absence of a chairman as of December 31, 2023[105] - The company confirmed that all directors have complied with the standards for securities trading as of December 31, 2023[106] Employment and Staff - As of December 31, 2023, the group employed 31 staff, an increase from 22 staff in the previous year, and complied with applicable social insurance regulations[129]