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，概不對因本公告全部 或任何部份內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 YUE DA INTERNATIONAL HOLDINGS LIMITED 悅達國際控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：629） 截至二零二三年六月三十日止六個月 之中期業績公告 中期業績 悅達國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，本公司 及其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月（「期內」）的 未經審核簡明綜合中期業績連同過往期間的比較數字如下： ...

Financial Performance - The company's factoring business recorded operating revenue of RMB 102,618,000, an increase of approximately 76.0% compared to the previous year[9]. - The net profit attributable to shareholders rose from RMB 15,114,000 to RMB 30,543,000, with basic earnings per share increasing from RMB 1.29 to RMB 2.61[9]. - Total factoring receivables increased by 32.1% compared to the previous year, with overall revenue rising by 27.0%[18]. - Interest income and management fee income for the year were approximately RMB 21,880,000 and RMB 5,003,000, respectively, compared to RMB 29,728,000 and RMB 7,122,000 in the previous year[12]. - The average return on investment for the year was 14.01%, up from 9.66% in the previous year[24]. Business Strategy and Expansion - The company plans to actively expand its customer base and seek opportunities in the telecommunications factoring sector and other potential industries[20]. - The company aims to diversify its existing business areas to enhance overall long-term benefits for the group and its shareholders[20]. - The group plans to continue developing its existing factoring financial services, accounts receivable management, and collection services, while also expanding its factoring business through communication factoring and exploring potential investment opportunities[59]. - The group is exploring potential investment opportunities to further diversify its existing business, although no formal agreements have been identified yet[34]. - The company aims to expand its customer base and explore opportunities in the communications industry and other potential sectors[67]. Risk Management - The company maintains strict risk control measures to minimize risks associated with factoring services[14]. - The company will remain vigilant regarding potential impacts from a slow global economic recovery and will take necessary measures to mitigate these effects[20]. - The group aims to leverage its network of state-owned enterprises in China to enhance risk control in its factoring business[60]. - The group is conducting more prudent due diligence on potential new clients due to the slowdown in China's economic growth, aiming to improve the overall quality of its client base[32]. - The company has conducted a risk assessment to identify major business risks and has developed an internal audit plan based on these assessments[169]. Corporate Governance - The board does not recommend the payment of any dividends for the current year, consistent with the previous year[51]. - The company has no predetermined dividend payout ratio, and future dividends will depend on the board's discretion based on profitability and financial conditions[76]. - The board is committed to improving corporate governance and has adhered to the corporate governance code throughout the year[77]. - The board of directors is responsible for overseeing the preparation of the group's financial statements, ensuring they present a true and fair view of the financial position, performance, and cash flows[90]. - The company has adopted a board diversity policy to maintain a competitive advantage, considering various factors such as skills, experience, and gender[92]. Environmental Impact - The total greenhouse gas emissions for 2022 amounted to 4.223 tons of CO2 equivalent, an increase from 3.786 tons in 2021[37]. - The group emitted 4.223 tons of CO2 equivalent greenhouse gases during the reporting period, an increase of 12% compared to last year[124]. - The density of emissions was 0.013 tons of CO2 equivalent per square meter of total office area[124]. - The group aims to reduce emission density by 10% by 2031, with a baseline emission density of 0.013 tons of CO2 equivalent per square meter as of 2021, which has increased by 12% since then[159]. - The company encourages employees to use public transport and online meetings to reduce carbon footprint[130]. Financial Position - As of December 31, 2022, the company's total equity was RMB 105,965,000, unchanged from 2021, while reserves increased to RMB 319,437,000 from RMB 288,894,000[69]. - The total current liabilities as of December 31, 2022, amounted to RMB 396,354,000, up from RMB 302,690,000 in 2021, primarily due to other payables and borrowings[69]. - The company has secured credit financing against factoring receivables totaling RMB 100,000,000 as of December 31, 2022, an increase from RMB 50,000,000 in 2021[74]. - The group's net asset value as of December 31, 2022, was RMB 425,402,000, representing an increase of approximately 7.7% from RMB 394,859,000 in 2021[93]. - The debt-to-asset ratio was approximately 53.0% as of December 31, 2022, up from 44.2% in 2021[93]. Stakeholder Engagement - The company is committed to continuous communication with shareholders, especially during the annual general meeting, to encourage their participation[173]. - The company has engaged stakeholders, including employees and customers, to better understand their needs and expectations[166]. - The company has a clear division of responsibilities between the chairman and the CEO, ensuring effective governance and communication with shareholders[188]. - The board members have diverse backgrounds and expertise, contributing to strategic planning and operational management[110]. - The company has appointed a company secretary who has completed at least 15 hours of relevant professional training to enhance skills and knowledge[172]. Climate Change Considerations - The company does not have a formal policy regarding climate change, viewing it as an environmental, social, and governance issue[198]. - Acute physical climate risks are expected to increase, potentially damaging local infrastructure and disrupting human resources[200]. - Long-term chronic climate risks may raise capital, operational, human resource costs, and insurance premiums[200]. - The company anticipates increased procurement expenses for new technologies and practices during the transition period[200]. - Stricter environmental laws and carbon pricing may lead to increased operational costs in the short to medium term[200].

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，概不對因本公告全部或任 何部份內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 YUE DA INTERNATIONAL HOLDINGS LIMITED 達 國 際 控 股 有 限 公 司 悅 （於開曼群島註冊成立的有限公司） （股份代號：629） 截至二零二二年十二月三十一日止年度之 業績公告 及建議修訂組織章程大綱及細則 年度業績 悅達國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈，本公司及 其附屬公司（統稱「本集團」）截至二零二二年十二月三十一日止年度（「本年度」） 之經審核綜合年度業績與上年的比較數字如下： 綜合損益及其他全面收入表 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 收入 3 傳統保理業務產生的收入 26,883 36,850 通訊類保理業務產生的收入 75,735 21,442 102,618 58,292 其他收入 319 1,174 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 38,770 thousand, a 39.8% increase from RMB 27,735 thousand for the same period in 2021[8] - Profit before tax for the same period was RMB 18,819 thousand, down 27.2% from RMB 25,907 thousand in 2021[8] - Net profit for the six months ended June 30, 2022, was RMB 10,800 thousand, a decrease of 31.9% compared to RMB 15,857 thousand in 2021[8] - Basic and diluted earnings per share for the period were RMB 0.92, down from RMB 1.36 in the previous year[8] - The company reported a decrease in administrative expenses to RMB 3,445 thousand for the six months ended June 30, 2022, down from RMB 5,468 thousand in 2021, a reduction of 37.0%[8] - Financing costs increased to RMB 4,825 thousand in the first half of 2022, compared to RMB 3,243 thousand in the same period of 2021, an increase of 48.8%[8] - Net cash flow from operating activities for the six months ended June 30, 2022, was RMB 36,238 thousand, a decrease of 34% from RMB 54,795 thousand in the same period of 2021[15] - The company reported a net foreign exchange gain of RMB 81 thousand for the six months ended June 30, 2022, significantly down from RMB 8,820 thousand in the same period of 2021[29] - The total profit and comprehensive income amounted to RMB 10,800,000, down from RMB 15,857,000 in the previous year, with basic earnings per share at RMB 0.92, compared to RMB 1.36 last year[74] Assets and Liabilities - Non-current assets as of June 30, 2022, totaled RMB 209,677 thousand, compared to RMB 202,578 thousand as of December 31, 2021, reflecting a 3.4% increase[9] - Current assets increased to RMB 532,154 thousand as of June 30, 2022, from RMB 505,165 thousand at the end of 2021, representing a 5.3% growth[9] - Total liabilities as of June 30, 2022, were RMB 316,690 thousand, compared to RMB 302,690 thousand at the end of 2021, indicating a 4.6% increase[9] - The company's total equity attributable to owners increased to RMB 405,659 thousand as of June 30, 2022, from RMB 394,859 thousand at the end of 2021, a rise of 2.0%[11] - The total amount of other payables and accrued expenses increased to RMB 15,477,000 as of June 30, 2022, from RMB 13,467,000 as of December 31, 2021[49] - As of June 30, 2022, the total principal amount of traditional factoring receivables was RMB 226,720,000, down from RMB 288,293,000 as of December 31, 2021, representing a decrease of approximately 21.4%[79] Cash Flow and Financing - The company’s cash and cash equivalents increased by RMB 22,258 thousand, reaching RMB 46,712 thousand at the end of the reporting period, compared to RMB 13,704 thousand at the end of the same period in 2021[15] - The company raised new bank loans of RMB 50,000 thousand during the reporting period, maintaining the same amount as in the previous year[15] - The company had bank loans of RMB 50,000,000 as of June 30, 2022, with a fixed annual interest rate of 6.3%, unchanged from the previous year[53] - The group issued credit facilities secured by factoring receivables totaling RMB 50,000,000 as of June 30, 2022, unchanged from December 31, 2021[95] - The company will continue to utilize internal resources, bank loans, and other borrowings to develop its factoring business, and is considering asset securitization as a financing option[90] Business Operations - The company recorded operating income of RMB 38,770,000 for its commercial factoring business, an increase of approximately 39.8% compared to RMB 27,735,000 in the same period last year[74] - The group reported other receivables and prepayments of RMB 683,796,000 as of June 30, 2022, compared to RMB 672,163,000 as of December 31, 2021, indicating a marginal increase[38] - The outstanding principal amount of receivables under telecommunications factoring was RMB 435,564,000 as of June 30, 2022, an increase from RMB 391,998,000 as of December 31, 2021, reflecting an increase of approximately 11.1%[83] - Service income from telecommunications factoring reached RMB 25,900,000, significantly up from RMB 6,412,000 in the same period last year, marking an increase of approximately 303.5%[83] - The company plans to further develop its factoring business, including telecommunications factoring, accounts receivable consulting services, and exploring potential investment opportunities[85] - The company has established partnerships with China's three major telecommunications service providers for telecommunications factoring services, which are expected to yield higher interest income compared to traditional factoring[87] Shareholder and Governance - The board currently includes independent non-executive directors, but the number is below the required threshold, necessitating immediate action to rectify this[103] - The company is actively seeking suitable candidates to fill the vacancies in the board and committees to comply with Listing Rules within three months from the 2021 annual general meeting[103] - The audit committee's membership has decreased to two members, which is below the minimum requirement of three members as per Listing Rules[103] - The company has adopted a share option scheme approved on May 20, 2021, aimed at incentivizing selected participants who contribute to the group, with no unexercised options as of June 30, 2022[111] - Jiangsu Yueda Group Limited holds 808,979,333 shares, representing 69.22% of the total issued share capital, indicating significant control over the company[107] - As of June 30, 2022, major shareholders include Yueda Capital (Hong Kong) Limited with 600,000,000 shares (51.34%) and Yueda Group (Hong Kong) Limited with 208,979,333 shares (17.88%) of the total issued share capital[107]

Financial Performance - Total revenue for the year was RMB 58,292,000, an increase of 22.3% compared to the previous year[6]. - Profit attributable to owners of the company increased to RMB 15,114,000 from RMB 10,499,000, with basic earnings per share rising to RMB 1.29 from RMB 0.90[6][17]. - The total amount of factoring receivables decreased by 40.9% compared to the previous year[8]. - Communication factoring business recorded outstanding principal of RMB 391,998,000, significantly up from RMB 39,118,000 in the previous year[9]. - The average return on total factoring business for the year was 9.66%, up from 8.93% in the previous year[22]. - The company recorded a net foreign exchange gain this year, contrasting with a net loss in the previous year[17]. - No dividends were recommended for the year, consistent with the previous year[18]. - The company adopted a more conservative approach in granting factoring loans, leading to a 21.8% decrease in overall income[8]. - Traditional factoring business recorded total receivables principal of RMB 288,293,000 as of December 31, 2021, down from RMB 487,847,000 in 2020[25]. - Interest income and management fee income for the traditional factoring business were RMB 29,728,000 and RMB 7,122,000 respectively in 2021, compared to RMB 34,931,000 and RMB 12,184,000 in the previous year[25]. Business Strategy and Expansion - The company plans to actively expand its customer base and explore opportunities in the communication factoring sector and other potential industries[12]. - The company aims to diversify its existing business areas to enhance long-term benefits for the group and its shareholders[12]. - The company aims to expand its factoring services by developing communications factoring, accounts receivable consulting services, and exploring potential investment opportunities[33]. - The company has established partnerships with China's three major telecommunications operators for communications factoring services, which are expected to yield higher interest income than traditional factoring[35]. - The group plans to focus on expanding its factoring business and exploring opportunities in the telecommunications sector and other potential industries[40]. Risk Management and Compliance - The company maintains a rigorous risk control framework, focusing on clients with strong financial backgrounds, particularly state-owned listed companies[28]. - The company is negotiating additional bank credit facilities and exploring asset securitization as alternative financing options[39]. - The average comprehensive return rate for factoring services ranges from approximately 8.7% to 10.5%, including an annual interest rate of about 6.0% to 10.0%[28]. - The company has identified several potential new clients for traditional factoring but will conduct more cautious due diligence due to the slowing economic growth and the impact of COVID-19[34]. - The company is collaborating with several professional technology service companies to provide risk screening and related technical services for supplier clients[33]. Corporate Governance - The board of directors is responsible for formulating the company's strategy, objectives, policies, and business plans, and overseeing their execution[59]. - The board has established internal guidelines requiring approval for significant investment plans, mergers, major asset sales, and substantial capital expenditures[59]. - The board held a total of 5 regular meetings during the year, with attendance rates varying among directors[63]. - All directors confirmed compliance with the standard code of conduct for securities trading during the year[73]. - The company has implemented a training program for directors to ensure they are updated on relevant regulations and business developments[69]. - The roles of the chairman and the CEO are clearly separated to maintain a balance of power[70]. - The current CEO, Dr. Wang, focuses on overall business operations and strategic planning[71]. - The company has three permanent committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined responsibilities[63]. - The board encourages continuous professional development for directors to enhance their knowledge and skills[66]. - The company has adopted insurance to cover costs incurred by directors and senior officers in the execution of their duties[63]. Audit and Financial Oversight - The external auditor received approximately HKD 1,930,000 for audit services and HKD 870,000 for non-audit services this year[79]. - The audit committee held two meetings this year to review the annual and interim reports and related transactions[86]. - The remuneration committee held one meeting this year to review and recommend directors' remuneration and performance adjustments[88]. - The nomination committee conducted two meetings this year to review the board's structure and confirm the independence of non-executive directors[92]. - The audit committee is responsible for monitoring the integrity of financial statements and reviewing the effectiveness of internal controls[83]. - The audit committee ensures timely responses to issues raised by the external auditor in their audit communications[83]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers the company's performance in these areas for the year ending December 31, 2021[107]. - The company has established key performance indicators (KPIs) for measuring its ESG impact, ensuring consistency in data presentation for meaningful comparisons[108]. - The board confirms its responsibility for the company's ESG strategy and risk assessment, adhering to all relevant reporting guidelines[110]. - The company has established a sustainability strategy that is reviewed annually to align with long-term business goals[112]. - The board is committed to forming an ESG working group to assess and manage environmental, social, and governance matters in the next reporting period[112]. - The company emphasizes the importance of stakeholder engagement, conducting surveys to understand their needs and expectations[113]. - The five key issues identified for the company include data protection, customer service, climate change, employment, and supply chain management[127]. - The company has not generated significant adverse environmental impacts due to its operations being limited to office activities[129]. - The company aims to enhance its ESG performance and maintain close communication with stakeholders regarding improvements[127]. - The company is dedicated to integrating sustainability further into its core strategy to create greater value for stakeholders and society[113]. Employee Engagement and Welfare - The workforce consists of 16 employees, with a distribution of 62% full-time and 38% part-time[156]. - Employee retention rate during the reporting period was 100%, with no employees leaving the company[161]. - The company provides various social insurance benefits, including pension and medical insurance, in compliance with local laws[162]. - The company emphasizes equal opportunities in recruitment and promotion, ensuring no discrimination based on age, gender, or other factors[164]. - The company engages employees through a reward and punishment system, recognizing good performance with incentives and organizing team-building activities[167]. - The company reported zero work-related deaths and injuries for the years 2019, 2020, and 2021, maintaining a death rate of 0.00%[172]. - During the reporting period, 100% of employees received training, with an average training duration of 24.00 hours per employee[175]. - The company has established a COVID-19 task force to implement strict monitoring and emergency plans, including a "14+7" quarantine policy for employees returning from Hong Kong[171]. - The company adheres to all relevant occupational health and safety laws in mainland China, including the Labor Law and the Occupational Disease Prevention Law[170]. - The company has not recorded any significant violations related to health and safety, advertising, or privacy issues during the reporting period[183]. Procurement and Supplier Management - The procurement process involves obtaining at least three quotes and requires approval from multiple departments before proceeding[178]. - The company has a strict risk management framework for factoring business, including due diligence on clients' repayment capabilities[180]. - The company has not established long-term relationships with suppliers during the reporting period[179]. - All employees are required to maintain confidentiality regarding business secrets, with strict penalties for violations[185]. - The company actively promotes integrity and anti-corruption measures among its employees, including signing anti-bribery agreements[187]. - The average training hours for each employee on anti-corruption during the reporting period was 2.00 hours[191]. - The company has no specific policies regarding community participation and donations during the reporting period[192]. - The company has not faced any legal cases related to corruption during the reporting period[191]. - The company encourages employees to participate in community projects and activities[192]. - The company has established a reporting policy to provide clear guidelines for reporting inappropriate workplace behavior[191]. - The company complies with all applicable laws against corruption and bribery in China[191]. - The company has six prohibitions and six bans in place to prevent misconduct and ensure compliance[188]. Governance Structure - The board of directors includes experienced professionals with over 30 years of experience in finance and accounting[194][197]. - The company has a direct wholly-owned subsidiary involved in commercial factoring[194]. - The company has a strong governance structure with independent non-executive directors[200].

Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 27,735 thousand, a 30.5% increase from RMB 21,245 thousand in the same period of 2020[9] - Interest income increased to RMB 23,079 thousand, up 54.8% from RMB 14,892 thousand year-on-year[9] - Profit before tax for the period was RMB 25,907 thousand, compared to RMB 7,034 thousand in the previous year, representing a significant increase of 268.5%[9] - Total comprehensive income for the period was RMB 15,857 thousand, compared to RMB 2,863 thousand in the same period last year, marking a growth of 453.5%[9] - Basic and diluted earnings per share for the period were RMB 1.36, compared to RMB 0.25 in the previous year, reflecting a 444% increase[9] - The net cash generated from operating activities for the six months ended June 30, 2021, was RMB 54,795,000, compared to RMB 22,500,000 for the same period in 2020, representing a significant increase of 143%[25] - The total profit and comprehensive income for the six months ended June 30, 2021, reached RMB 15,857,000, compared to RMB 2,863,000 for the same period in 2020, representing a significant increase[47] Assets and Liabilities - Non-current assets as of June 30, 2021, totaled RMB 104,674 thousand, an increase from RMB 61,868 thousand as of December 31, 2020[10] - Current assets decreased to RMB 384,309 thousand from RMB 709,126 thousand at the end of 2020, primarily due to a reduction in bank deposits[10] - Total liabilities decreased significantly from RMB 385,179 thousand to RMB 84,894 thousand, indicating improved financial stability[10] - The company reported a net asset value of RMB 395,602 thousand as of June 30, 2021, compared to RMB 379,745 thousand at the end of 2020[12] - The total amount of factoring receivables decreased to RMB 466,788,000 as of June 30, 2021, from RMB 521,800,000 as of December 31, 2020, indicating a decline of approximately 10.5%[49] - Other receivables and prepayments totaled RMB 1,330,000, down from RMB 4,681,000 in the previous year, reflecting a decrease of about 71.6%[49] - Bank loans due within one year amounted to RMB 50,000,000 as of June 30, 2021, a significant decrease from RMB 356,519,000 as of December 31, 2020[62] - The company reported other payables totaling RMB 8,639,000, down from RMB 12,637,000 in the previous year, indicating a reduction of approximately 31.6%[61] Cash Flow and Financing - The cash and cash equivalents decreased by RMB 7,356,000 for the six months ended June 30, 2021, compared to a decrease of RMB 148,587,000 in the same period of 2020[25] - The company raised RMB 50,000,000 in new bank loans during the six months ended June 30, 2021, maintaining the same amount as in the previous year[25] - The company reported a net cash outflow from financing activities of RMB 279,737,000 for the six months ended June 30, 2021, compared to an inflow of RMB 47,590,000 in the same period of 2020[25] Foreign Exchange and Taxation - The net foreign exchange gain for the six months ended June 30, 2021, was RMB 8,820,000, compared to a loss of RMB 6,601,000 in the same period of 2020, showing a turnaround of RMB 15,421,000[40] - The income tax expense for the six months ended June 30, 2021, was RMB 10,050,000, compared to RMB 4,171,000 for the same period in 2020, indicating an increase of 141%[41] Business Strategy and Market Presence - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[9] - The group is exploring potential investment opportunities to diversify its existing business, although no formal agreements have been established as of the report date[86] - The group plans to continue utilizing internal resources and bank loans to develop its commercial factoring business, with ongoing discussions for additional bank financing[87] - The group has established partnerships with three leading telecom service providers to enhance its installment payment services, which yield higher interest income compared to traditional factoring[84] - The group remains vigilant regarding the operational impacts of COVID-19 and is actively seeking opportunities in the telecom factoring sector and other promising industries[88] Corporate Governance - The company has adopted the corporate governance code as per the listing rules, with all directors confirming compliance throughout the period[98] - The audit committee reviewed the group's accounting principles and interim unaudited results during a meeting on July 30, 2021[100] - The remuneration committee regularly reviews and discusses remuneration policies and levels for executive directors[101] - The nomination committee is responsible for reviewing the composition of the board and selecting candidates with the necessary skills and experience[101] - Non-executive directors rotate every three years as per the company's articles of association[99] - The company has confirmed that all directors and their associates had no interests or short positions in the company's shares as of June 30, 2021[104] Shareholder Information - As of June 30, 2021, major shareholders include Yueda Capital (Hong Kong) holding 600,000,000 shares, representing 51.34% of the issued share capital[105] - Jiangsu Yueda Group holds 808,979,333 shares, accounting for 69.22% of the company's issued share capital[106] Share Options - The company has established a new share option scheme as of May 20, 2021, replacing the previous scheme that was terminated on the same date[109] - As of June 30, 2021, no unexercised share options were outstanding under the share option scheme[109]

Financial Performance - Total revenue for the year was RMB 47,658,000, a decrease of 6.0% compared to RMB 50,688,000 in 2019[7] - Profit attributable to owners increased to RMB 10,499,000, up from RMB 7,821,000 in 2019, with basic earnings per share rising to RMB 0.90 from RMB 0.67[20] - The total loan amount for traditional factoring decreased by 9.7% due to the economic slowdown and COVID-19, resulting in a 7.1% decline in overall income[9] - The factoring business generated operating income of RMB 47,658,000, with a classified profit of RMB 38,471,000[22] - The average return rate for the year was 8.93%, compared to 8.64% in 2019[24] - No dividends were recommended for the year, consistent with 2019[21] - The company's net asset value increased by approximately 2.8% to RMB 379,745,000 from RMB 369,246,000 in 2019[42] - The debt-to-asset ratio was approximately 50.7%, slightly down from 51.0% in 2019[42] - The bank borrowings as of December 31, 2020, were RMB 356,519,000, an increase from RMB 347,211,000 in 2019[43] - The company's available reserves for distribution to shareholders amounted to RMB 185,594,000 as of December 31, 2020[194] - The company reported no dividend payment for the year ending December 31, 2020[188] Business Development - The company initiated telecom factoring business with three leading telecom operators, with outstanding principal amount of RMB 39,118,000 as of December 31, 2020[10] - The company plans to expand its traditional factoring business through its network of state-owned enterprises in China[32] - The company has established partnerships with the three major telecom operators in China to offer installment payment factoring services, which will yield higher interest and fee income compared to traditional factoring[35] - The company aims to diversify its existing business areas to enhance long-term benefits for shareholders[14] - The company is exploring potential investment opportunities to diversify its existing business, although no formal agreements have been established yet[37] Risk Management - The company maintains strict risk control measures to minimize risks associated with its factoring business, focusing on financially stable and reputable clients[31] - The company is focused on managing credit risk, which is a significant risk in its factoring business[198] - The company has a significant credit risk management strategy in place to mitigate potential defaults by clients[198] - The company is monitoring exchange rate fluctuations, particularly concerning euro-denominated bank loans[197] - The group faces credit risk and liquidity risk in its factoring business, with certain assets and liabilities subject to foreign exchange risk[49] Corporate Governance - The board plans to distribute dividends from surplus funds, limited to amounts that can be supported by operating net profits, with no predetermined payout ratio[51] - The board has committed to enhancing corporate governance standards and has adhered to all provisions of the corporate governance code throughout the year, with some exceptions noted[54] - The board's main responsibilities include formulating the company's strategy, monitoring operational and financial performance, and ensuring effective risk management policies[58] - The company has implemented a code of conduct for employees and directors to ensure compliance and ethical behavior[61] - The board has established three permanent committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined responsibilities[61] - The Audit Committee is responsible for monitoring the integrity of financial statements and reviewing significant judgments related to financial reporting[82] - The Audit Committee held two meetings this year to review the company's annual and interim reports, as well as related party transactions, and provided recommendations to the Board[84] - The company emphasizes continuous communication with shareholders, particularly during the annual general meeting, to encourage participation[97] - The company is committed to complying with all disclosure responsibilities as per listing rules and applicable laws[97] Employee and Community Engagement - The group employed approximately 20 staff in management, administration, and factoring business across Hong Kong and mainland China as of December 31, 2020[48] - The group has provided various training programs for management and employees to enhance relevant business or skill sets during the year[48] - Each employee received an average of 1 hour of training during the reporting period to enhance their professional knowledge and performance[160] - The company encourages employee participation in community projects and activities, although there are no specific policies for community engagement[173] - The company provides various social insurance benefits to employees, including pension, medical insurance, and maternity insurance[148] Environmental Responsibility - The company emphasizes environmental responsibility and sustainable development as a leading state-owned enterprise in China[200] - The group generated 43.29 tons of CO2 equivalent emissions during the reporting period, with 4% from fossil fuel combustion (Scope 1) and 96% from purchased electricity (Scope 2) [126] - The group consumed 49,833 kWh of electricity during the reporting period, with an estimated electricity consumption of approximately 44,516 kWh based on electricity costs [131] - The group has not reported any significant adverse environmental impacts from its operations, which are limited to office activities[121] - The group has not generated significant hazardous waste during its operations [127] - The group encourages employees to use public transportation and online meetings to reduce carbon emissions [129] - The group has implemented energy-saving measures, such as turning off idle air conditioning and lights after hours [134] - The group does not involve the use of packaging materials in its operations, thus no data is available [136] - The group has not reported any complaints from the surrounding community regarding air pollution, odors, noise, or light pollution [137] Safety and Compliance - The company emphasized the importance of safety production, implementing measures such as accountability for safety performance and employee safety education[155] - During the reporting period, there were no work-related deaths or injuries, with zero cases of work injuries resulting in lost workdays[158] - There were no significant violations related to health and safety, advertising, labeling, or privacy issues during the reporting period[165] - The company is committed to anti-corruption and bribery laws, with no legal cases related to corruption faced during the reporting period[172]

Financial Performance - Revenue from continuing operations for the six months ended June 30, 2020, was RMB 6,353,000, compared to RMB 7,092,000 for the same period in 2019, representing a decrease of approximately 10.4%[10] - The total comprehensive income for the period was RMB 2,863,000, down from RMB 3,924,000 in the previous year, indicating a decline of about 27%[10] - Basic earnings per share from continuing operations was RMB 0.25, a decrease from RMB 0.59 in the same period last year, reflecting a drop of approximately 57.6%[10] - Total revenue reported for the six months ended June 30, 2020, was RMB 21,245 thousand, a decrease of 16.5% compared to RMB 25,580 thousand for the same period in 2019[39] - The company reported a profit before tax of RMB 7,034 thousand for the six months ended June 30, 2020, down 47.3% from RMB 13,317 thousand in the same period of 2019[39] - The total profit and comprehensive income for the period was RMB 2,863,000, down from RMB 6,909,000 in the previous year, with basic earnings per share at RMB 0.25 compared to RMB 0.59 last year[87] Assets and Liabilities - Non-current assets as of June 30, 2020, totaled RMB 1,970,000, compared to RMB 1,730,000 as of December 31, 2019, showing an increase of about 13.9%[11] - Current assets decreased to RMB 814,417,000 from RMB 752,490,000, representing an increase of approximately 8.2%[11] - Total liabilities increased significantly, with current liabilities rising to RMB 439,631,000 from RMB 33,865,000, indicating a substantial increase[11] - The company has a total equity attributable to owners of the company of RMB 372,109,000, slightly up from RMB 369,246,000 in the previous year[13] - The company's total liabilities decreased from RMB 6,362,000 to RMB 5,718,000 in payables to related companies, indicating a reduction of 10.2%[64] - The debt-to-asset ratio was approximately 54.4% as of June 30, 2020, compared to 51.0% as of December 31, 2019[103] Cash Flow - The company reported a net cash and cash equivalents of RMB 57,812,000, down from RMB 206,399,000, reflecting a decrease of approximately 72%[11] - For the six months ended June 30, 2020, the net cash generated from operating activities was RMB 22,500 thousand, a decrease of 61.2% compared to RMB 58,026 thousand for the same period in 2019[26] - The cash and cash equivalents at the end of the period were RMB 57,812 thousand, a decrease of 71.9% from RMB 201,118 thousand at the end of June 30, 2019[26] - The company raised RMB 50,000 thousand in new bank borrowings during the reporting period[26] Foreign Exchange and Taxation - The company incurred a net loss of RMB 6,601 thousand from foreign exchange, compared to a gain of RMB 2,550 thousand in the same period of 2019[39] - The current tax expense for the period was RMB 3,734,000, down from RMB 5,262,000 in the previous year[44] - The company’s effective tax rate remained at 25% for its subsidiaries in China[45] Operational Strategy - The company plans to focus on market expansion and new product development to drive future growth[10] - The company is exploring potential mergers and acquisitions to enhance its market position and operational capabilities[10] - The company is focusing on expanding its existing commercial factoring business, including services such as telecom installment payment services and accounts receivable consulting services[91] - The company plans to actively expand its customer base and explore opportunities in the telecommunications consumer finance sector[102] - The management remains vigilant regarding the operational impacts of COVID-19 and is prepared to take necessary measures to mitigate its effects[102] Corporate Governance - The board confirmed compliance with the corporate governance code throughout the period, with minor exceptions noted[111] - The company has adopted the standard code for securities transactions by directors and confirmed compliance during the entire period[112] - The board of directors includes both executive and independent non-executive members, ensuring diverse governance[123] Shareholder Information - As of June 30, 2020, directors held a total of 1,130,666 shares, representing approximately 0.10% of the company's issued share capital[117] - Major shareholders include Yueda Capital (Hong Kong) holding 600,000,000 shares, representing 51.34% of the issued share capital[119] - Jiangsu Yueda Group holds 808,979,333 shares, accounting for 69.22% of the issued share capital[119] - Yueda Capital Holdings Limited is a controlled company with 600,000,000 shares, also representing 51.34%[119] Employee Information - As of June 30, 2020, the company's commercial factoring business had approximately 17 employees, led by an experienced management team with over 20 years of banking and factoring experience[92] - The company employed approximately 23 staff in management, administration, and commercial factoring roles across Hong Kong and mainland China as of June 30, 2020[108]

Financial Performance - Total revenue for the year was RMB 50,689,000, an increase of 12.5% compared to RMB 45,000,000 in 2018[7] - The mining business generated revenue of RMB 13,665,000, a decrease of 67.7% from RMB 42,000,000 in 2018[7] - The company recorded a profit attributable to owners of RMB 30,177,000, compared to a loss of RMB 46,515,000 in 2018[7] - Basic earnings per share from continuing and discontinued operations were RMB 2.58[7] - The factoring business achieved operating income of RMB 50,689,000, contributing to a classified profit of RMB 39,331,000[14] - The factoring business recorded operating income of RMB 50,689,000 in the current year, an increase from RMB 45,069,000 in 2018, representing a growth of approximately 3.6%[17] - As of December 31, 2019, the total amount of loans granted was RMB 540,009,000, with interest income and management fee income recorded at RMB 35,963,000 and RMB 14,726,000 respectively, compared to RMB 32,448,000 and RMB 10,522,000 in 2018, indicating increases of 10.5% and 39.5%[17] - The group’s net asset value increased by approximately 9.6% to RMB 369,246,000 as of December 31, 2019, compared to RMB 336,837,000 in 2018[48] - The debt ratio was approximately 51.0% as of December 31, 2019, a significant decrease from 71.1% in 2018[48] - Bank borrowings stood at RMB 347,211,000 as of December 31, 2019, slightly down from RMB 348,624,000 in 2018[49] Business Operations - The company successfully sold its mining subsidiary for RMB 230,800,000, generating a gain of approximately RMB 34,647,000 from the sale[9] - The mining operations were terminated following the sale of the subsidiary in October 2019[8] - The company plans to expand its factoring business by developing telecom installment payment services, accounts receivable consulting services, and exploring potential investment opportunities[24] - The company is currently in final negotiations with two major telecom service operators in China to provide installment payment services, expected to launch in the second half of 2020, with anticipated higher income from interest and fees compared to existing factoring services[28] - The company has joined the International Factoring Association to enhance its business network and develop accounts receivable consulting services for one-time revenue[29] - The company is exploring potential investment opportunities to diversify its existing business, although no formal agreements have been established yet[30] - The company will continue to utilize internal resources and bank loans to develop its factoring business, and is considering asset securitization as an additional financing option[31] Corporate Governance - The board did not recommend any dividend for the year, consistent with 2018[15] - The board plans to distribute dividends only from operating net profits that can be sustained, with no predetermined payout ratio[56] - The board is responsible for overseeing the company's strategic direction and ensuring compliance with corporate governance standards[63] - The company has adopted a board diversity policy, considering various factors such as skills, experience, and gender to maintain competitive advantage[81] - The chairman and CEO roles are clearly separated to ensure a balance of power and authority within the company[75] - The company has established three permanent committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined responsibilities[67] - The Audit Committee is responsible for reviewing the effectiveness of the external auditor and ensuring their independence and objectivity[86] - The company has implemented a standard code for securities trading by directors, ensuring compliance throughout the year[77] Environmental, Social, and Governance (ESG) Initiatives - The company is committed to complying with statutory requirements regarding identified important environmental, social, and governance aspects[120] - Stakeholder feedback is regularly solicited to identify potential environmental, social, and governance risks and improve management practices[110] - The group actively engages with employees, customers, local communities, and NGOs to gather insights and support[111] - The company maintains a focus on key operational areas, including supply chain management and community investment[120] - The company has committed to adhering to all applicable environmental laws and regulations related to its operations[126] - 75% of water used in mining operations is recycled, demonstrating the company's commitment to water resource conservation[147] - The company has implemented measures to reduce emissions by encouraging employees to use public transportation and conduct online meetings[140] Employee Management - The employee turnover rate during the reporting period was 38%, with 8 employees leaving the company[153] - The company emphasizes employee health and safety, providing safety training and personal protective equipment[168] - 100% of employees are covered by social insurance, including pension and medical insurance[160] - The company has a diverse workforce, with 29% female and 71% male employees[158] - The company has established a transparent recruitment and promotion mechanism based on performance evaluations[161] - The total number of employees is 287, with a total of 7,344 training hours provided[177] - 94% of male employees and 86% of female employees participated in training programs[177] - The company has a strict recruitment process to ensure no child or forced labor is employed, adhering to the Labor Law of the People's Republic of China[178] Risk Management - The company is committed to identifying, monitoring, and managing risks associated with its business activities, with the Board responsible for the internal control system and risk management procedures[96] - The company has implemented strict risk control measures in its factoring business to mitigate associated risks[181] - There were no significant violations related to health and safety, advertising, labeling, or privacy issues during the reporting period[181]

Financial Performance - Total revenue for the six months ended June 30, 2019, was RMB 42,552,000, a decrease of 13.5% from RMB 49,291,000 in the same period of 2018[11] - Revenue from customer contracts was RMB 24,064,000, down 41.5% from RMB 41,068,000 year-on-year[11] - Interest income increased significantly to RMB 18,488,000, up 125.7% from RMB 8,223,000 in the previous year[11] - The company reported a profit of RMB 3,924,000 for the period, compared to a loss of RMB 18,298,000 in the same period last year[11] - Basic and diluted earnings per share were RMB 0.34, recovering from a loss of RMB 1.49 per share in the previous year[11] - The company reported a total comprehensive loss of RMB (18,298) thousand for the period, compared to a loss of RMB (17,378) thousand in the prior year[20] - The company reported a tax expense of RMB 5,805,000 for the six months ended June 30, 2019, compared to RMB 997,000 for the same period in 2018[84] - The total depreciation and amortization for the period was RMB 5,768,000, down from RMB 6,088,000 in the previous year[86] - The company did not declare any dividends for the six months ended June 30, 2019[87] Assets and Liabilities - Non-current assets totaled RMB 265,003,000 as of June 30, 2019, slightly down from RMB 267,009,000 at the end of 2018[12] - Current assets decreased to RMB 784,453,000 from RMB 896,826,000 at the end of 2018, primarily due to a reduction in receivables[12] - Total liabilities decreased to RMB 398,388,000 from RMB 399,092,000 at the end of 2018, indicating stable financial management[15] - Cash and cash equivalents increased to RMB 201,118,000 from RMB 162,563,000, reflecting improved liquidity[12] - The company's net asset value increased by approximately 1.16% to RMB 340,761,000 as of June 30, 2019, compared to RMB 336,837,000 at the end of 2018[154] - The company's debt-to-asset ratio improved to approximately 67.5% as of June 30, 2019, down from 71.1% at the end of 2018[154] - As of June 30, 2019, the group's accounts receivable amounted to RMB 561,701,000, a decrease from RMB 709,565,000 as of December 31, 2018[98] - The group had a total of RMB 275,937,000 in payables to related companies, an increase from RMB 188,269,000 as of December 31, 2018[108] - Bank loans as of June 30, 2019, amounted to RMB 347,278,000, slightly down from RMB 348,624,000 as of December 31, 2018[121] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2019, was RMB 58,026 thousand, a significant improvement compared to a net cash used of RMB (372,766) thousand for the same period in 2018[20] - The cash and cash equivalents at the end of the period were RMB 201,118 thousand, down from RMB 333,699 thousand at the end of June 30, 2018[20] - The company reported a total cash outflow from financing activities of RMB (24,812) thousand, compared to an inflow of RMB 205,230 thousand in the previous year[20] - The company recorded a cash inflow of RMB 157,865 thousand from related party loans during the period[20] - The group incurred RMB 1,395,000 for the purchase of properties, plants, and equipment in the six months ended June 30, 2019, compared to RMB 5,247,000 in the same period of 2018[91] Business Segments - Mining business revenue for the six months ended June 30, 2019, was RMB 16,972,000, while factoring-related business revenue was RMB 25,580,000, totaling RMB 42,552,000[78] - The company reported a loss of RMB 3,174,000 from the mining business, but a profit of RMB 21,526,000 from factoring-related services, resulting in a consolidated profit of RMB 18,352,000[78] - For the six months ended June 30, 2019, the mining business generated revenue of RMB 16,972,000, a decrease of approximately 48.6% compared to RMB 33,046,000 in the same period of 2018[140] - The commercial factoring business recorded revenue of RMB 25,580,000, an increase of approximately 57.5% from RMB 16,245,000 in the previous year[148] - The company plans to terminate its mining operations and focus on the commercial factoring business following the sale of its mining assets[153] Accounting Policies and Standards - The company has applied new accounting standards, including HKFRS 16 on leases, which may impact future financial reporting[25] - The group applies the exemption for short-term leases and low-value asset leases, recognizing lease payments as expenses on a straight-line basis over the lease term[33] - The cumulative effect of initially applying HKFRS 16 is recognized on January 1, 2019, with no restatement of comparative information[51] - The company applied the modified retrospective approach under HKFRS 16, resulting in adjustments to retained earnings as of January 1, 2019[63] - The company has maintained its accounting policies consistent with those used in the preparation of the annual financial statements for the year ended December 31, 2018[22] Corporate Governance and Shareholder Information - The major shareholders include Yueda Capital (Hong Kong) holding 51.34% of the issued share capital and Jiangsu Yueda Group holding 69.22%[171][172] - The board of directors has adopted the standard code for securities transactions and confirmed compliance throughout the reporting period[163] - The audit committee reviewed the group's accounting principles and practices during a meeting on August 1, 2019[165] - The group has no plans for the repurchase, sale, or redemption of its securities during the reporting period[161] - The board of directors will review the capital structure every six months, considering capital costs and associated risks[156] Employee and Management Information - The group employed approximately 333 staff across management, administration, and mining roles in Hong Kong and mainland China as of June 30, 2019[160] - Short-term employee benefits for directors and key management personnel increased to RMB 2,122,000 from RMB 1,038,000 year-on-year, reflecting a growth of approximately 104.1%[135]