Financial Performance - The company's revenue for the year ended December 31, 2023, was approximately RMB 144,600,000, an increase of 289.5% compared to RMB 37,100,000 for the year ended December 31, 2022[3]. - Gross profit for the year was approximately RMB 20,600,000, up 163.5% from RMB 7,800,000 in the previous year, with a gross margin of 14.2% compared to 21.0% in 2022[3]. - The net profit attributable to the owners of the company was approximately RMB 44,500,000, a significant turnaround from a loss of RMB 55,800,000 in the previous year, resulting in a net profit margin of 30.7%[3]. - Basic earnings per share for the year were RMB 5.25, compared to a loss per share of RMB 7.05 in 2022[3]. - The company reported a pre-tax profit of RMB 37,826,000 for the year, compared to a pre-tax loss of RMB 48,191,000 in the previous year[5]. - The company recorded a total comprehensive income of approximately RMB 44,300,000, compared to a loss of RMB 50,700,000 in the previous year[59]. - The company reported a net profit attributable to shareholders of RMB 44,456,000 for the year ended December 31, 2023, compared to a net loss of RMB 55,805,000 in 2022[35]. - Pre-tax profit improved by RMB 86,800,000 or 178.5% to approximately RMB 37,800,000, compared to a loss of RMB 86,000,000 in the previous year[57]. Revenue Breakdown - Total revenue for the group in 2023 was RMB 144,645,000, a significant increase from RMB 37,140,000 in 2022, representing a growth of approximately 288%[22]. - Revenue from solar power generation was RMB 14,780,000 in 2023, up from RMB 12,269,000 in 2022, indicating a growth of about 12.3%[22]. - Revenue from energy storage sales and production was RMB 11,232,000 in 2023, down from RMB 12,731,000 in 2022, reflecting a decline of approximately 11.8%[22]. - Total revenue for the solar and energy storage segment reached RMB 54,819,000, while logistics services generated RMB 89,826,000, leading to a combined total revenue of RMB 144,645,000 for the year ended December 31, 2023[24]. - The solar and energy storage segment reported a profit of RMB 11,323,000, whereas the logistics services segment incurred a loss of RMB 1,007,000, resulting in an overall profit of RMB 10,316,000[24]. Liabilities and Financial Position - Total liabilities decreased to approximately RMB 341,500,000 as of December 31, 2023, from RMB 467,100,000 a year earlier, with a debt-to-equity ratio of 2.5, down from 2.8[3]. - As of December 31, 2023, the group's net current liabilities and total liabilities were approximately RMB 157,497,000 and RMB 134,443,000 respectively[14]. - The company’s total assets decreased from RMB 302,946,000 in 2022 to RMB 207,037,000 in 2023, reflecting a reduction of approximately 31.6%[25][26]. - Total liabilities also decreased from RMB 467,099,000 in 2022 to RMB 341,480,000 in 2023, indicating a decline of about 26.8%[26]. - The net debt as of December 31, 2023, was approximately RMB 134,400,000, down from RMB 164,200,000 a year earlier, reflecting an improvement in the company's debt situation[61]. - The company recorded an operating capital deficit of RMB 157,500,000 as of December 31, 2023, compared to RMB 192,300,000 in the previous year, showing a reduction in operational liquidity issues[61]. Investments and Acquisitions - The group has invested RMB 8,500,000 in a flywheel lithium iron phosphate hybrid energy storage system to enhance profitability[17]. - The company announced the acquisition of a controlling stake in Changzhou Zhilian Cloud for RMB 20,000,000, expected to enhance logistics capabilities[43]. - The company has entered into a conditional sale agreement to acquire Changzhou Zhiliang Cloud for RMB 20,000,000 (approximately HKD 22,000,000) to further invest and expand its logistics business[76]. - The company has invested in a 15% stake in Shenyang Guoyun Micro Control Energy Technology Co., Ltd., valued at RMB 2,881,005 as of December 31, 2023[71]. Operational Highlights - The company is engaged in the research, production, and sale of high-efficiency monocrystalline products, energy storage products, and lithium battery products, as well as providing consulting services for solar power station operations[11]. - The company continues to provide EPC services for rooftop distributed generation projects across various regions in China, maintaining its core business focus[40]. - The company observed a rebound in procurement orders in the second half of 2023, suggesting a recovery in demand for its lithium battery energy storage systems[40]. - The company has undertaken over 30 distributed photovoltaic EPC projects since 2017, with a notable project in Shanghai this year reaching a scale of 4,000 kW[77]. - The company is focused on accelerating its EPC business in response to national policies promoting carbon neutrality and the growth of distributed photovoltaic power generation[77]. Cost Management and Efficiency - Administrative and general expenses decreased by RMB 5,200,000 or 14.4% to RMB 30,600,000 due to cost control measures[53]. - Research and development expenses decreased by RMB 2,200,000 or 65.9% to RMB 1,200,000, reflecting strict cost control in response to macroeconomic challenges[54]. - Financing costs remained stable at RMB 14,032,000 in 2023, slightly up from RMB 14,017,000 in 2022, indicating effective cost management[32]. Corporate Governance and Compliance - The company is committed to maintaining high standards of corporate governance and has complied with the corporate governance code, with ongoing reviews of its governance structure[83]. - The audit committee consists of two independent non-executive directors, ensuring compliance with corporate governance codes[90]. - The independent auditor's report indicated significant uncertainties regarding the company's ability to continue as a going concern, with net current liabilities of approximately RMB 157.5 million and total liabilities of approximately RMB 134.4 million as of December 31, 2023[99]. Future Outlook and Strategy - The company plans to sell low-utilization properties to alleviate cash flow pressure and improve operational capital[62]. - The company has no plans to expand traditional solar manufacturing capacity and will cautiously plan for the expansion of rooftop distributed generation projects and energy storage businesses based on market conditions[67]. - The company plans to expand into smart logistics and renewable energy sectors, with progress expected to resume as the Chinese economy recovers from the pandemic[75]. - The company is actively seeking opportunities for partnerships with local governments and industry experts to enter hazardous materials transportation and logistics finance sectors[76].

Revenue Performance - Revenue from solar and energy storage decreased by approximately RMB 7,900,000 or 46.4% to about RMB 9,100,000 compared to the same period in 2022, primarily due to weak demand for lithium battery storage products [12]. - Revenue from logistics services increased by 100% to approximately RMB 6,300,000 during the same period, indicating significant growth in this segment [8]. - Revenue for the six months ended June 30, 2023, was RMB 15,430,000, a decrease of 9.1% compared to RMB 16,971,000 for the same period in 2022 [86]. - The company reported total revenue of RMB 15,430,000 for the six months ended June 30, 2023, compared to RMB 16,971,000 for the same period in 2022, reflecting a decrease of about 9.1% [109]. - Revenue from the sale of energy storage products decreased significantly to RMB 1,720,000 in 2023 from RMB 10,852,000 in 2022, representing a decline of approximately 84.2% [109]. - The logistics services segment generated revenue of RMB 6,326,000 in 2023, which was not reported in the previous year [109]. Profitability - Gross profit for the period was approximately RMB 4,800,000, a decrease of about 15.7% from approximately RMB 5,800,000 in the same period of 2022, attributed to reduced revenue [14]. - The company's profit before tax for the period was approximately RMB 48,700,000, an increase of about RMB 54,600,000 compared to a loss of approximately RMB 5,900,000 in the same period of 2022 [23]. - The total profit and comprehensive income for the period was approximately RMB 48,700,000, compared to a loss of approximately RMB 4,200,000 in the same period of 2022 [26]. - The company reported a net profit of approximately RMB 48.7 million for the six months ended June 30, 2023, compared to a net loss of RMB 12.2 million in the previous period [101]. - Basic earnings per share for the period was RMB 6.22, a significant improvement from a loss of RMB 1.55 per share in 2022 [86]. - The company achieved a gross profit of RMB 5,330,000 for the six months ended June 30, 2023, with an unallocated income of RMB 71,477,000 [116]. Expenses and Costs - Gross profit for the same period was RMB 4,854,000, down 15.7% from RMB 5,757,000 in 2022 [86]. - Other income for the period was approximately RMB 3,600,000, down 13.2% from approximately RMB 4,200,000 in the same period of 2022, mainly due to decreased rental income from property sales [15]. - Administrative expenses increased by approximately RMB 1,000,000 or 8.1% to about RMB 13,900,000, mainly due to increased legal and professional fees related to debt reduction and property sales [20]. - Research and development expenses decreased by approximately RMB 1,200,000 or 66.2% to about RMB 600,000, attributed to strict cost control measures implemented by the company [21]. - Interest expenses for the period were approximately RMB 7,200,000, a decrease of about RMB 700,000 from approximately RMB 7,900,000 in the same period of 2022, due to reduced borrowing costs following property sales [22]. - Employee costs totaled RMB 3,178,000 for the six months ended June 30, 2023, compared to RMB 3,300,000 for the same period in 2022, reflecting a decrease of 3.7% [132]. Financial Position - The group recorded a current ratio of 0.3 as of June 30, 2023, down from 0.54 as of December 31, 2022, indicating a decline in liquidity [28]. - The group reported a net debt of approximately RMB 130,800,000 as of June 30, 2023, a decrease from approximately RMB 164,200,000 as of December 31, 2022 [28]. - Total assets as of June 30, 2023, were RMB 77,774,000, a decrease from RMB 226,011,000 at the end of 2022 [88]. - Total liabilities as of June 30, 2023, were approximately RMB 130.811 million, with current liabilities netting around RMB 180.421 million [101]. - The company’s cash and cash equivalents decreased to RMB 12,144,000 from RMB 22,544,000 at the end of 2022 [88]. - The company reported a decrease in cash and cash equivalents to RMB 12,144 million from RMB 42,614 million at the end of the previous period [97]. Strategic Initiatives - The company continues to focus on improving energy supply efficiency and increasing the proportion of renewable energy in global energy supply through investment and technology development [9]. - The group plans to expand into new businesses, including smart logistics and renewable energy, following the establishment of a new headquarters in Jiangsu Province [39]. - The company is focused on expanding its operations in solar energy and battery products, indicating a strategic shift towards renewable energy solutions [99]. - The company is exploring partnerships with international firms to enhance its technological capabilities and market reach [170]. - The company is actively negotiating with interested parties for debt restructuring to facilitate discussions with creditors regarding loan repayment extensions and refinancing [104]. - The company has adopted strict controls over its operational and investment activities to manage financial stability [104]. Shareholder Information - The company completed subscription agreements on June 30, 2023, issuing a total of 158,341,800 shares at a subscription price of HKD 0.105 per share, raising approximately RMB 8,000,000 for general working capital and debt repayment [32]. - The company maintains a public float of at least 25% of its issued shares as required by listing rules [55]. - The beneficial ownership of Mr. Zhang is 142,470,887 shares, representing approximately 15.80% of the issued share capital [57]. - The company is actively seeking to fill vacancies for independent non-executive directors and committee members to comply with listing rules [47]. - The company has established a goal for female representation on the board to be no less than 10% [50]. - The company has no other persons or corporations holding shares that need to be recorded as of June 30, 2023 [63]. Legal and Compliance - The audit committee has reviewed the interim financial statements, ensuring internal controls and risk management are in place [52]. - The company is involved in a legal case regarding an outstanding loan of approximately USD 513,000 (around RMB 3,443,000) as of April 27, 2021 [165]. - The company has not reported any options that have lapsed or been cancelled during the period under the new share option scheme [82]. - The company reported no expenses related to the new share option plan for the six months ending June 30, 2023 [161]. Future Outlook - The company expects a revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies [170]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2025 [170]. - A strategic acquisition of a local solar technology firm was completed, expected to enhance production capacity by 40% [170]. - The company launched a new solar panel product line, projected to contribute an additional RMB 200 million in revenue [170].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 卡姆丹克太陽能系統集團有限公司 Comtec Solar Systems Group Limited （於開曼群島註冊成立的有限公司） （股份代號：712） 截至二零二三年六月三十日止六個月的 中期業績公佈 業績摘要 • 期內收益約為人民幣15,400,000元，較二零二二年同期約人民幣17,000,000元 減少9.1%； • 期內毛利約為人民幣4,900,000元，較二零二二年同期毛利約人民幣5,800,000 元減少15.7%； • 期內毛利率為31.5%，而二零二二年同期則錄得毛利率33.9%； • 作為本集團剔除資本集中、效益表現不佳的上游業務之策略的一部分，本 公司於二零二二年六月一日公佈出售位於上海的若干物業，代價為人民幣 180,000,000元。出售事項經已完成，而本集團於期內錄得出售物業淨收益約 人民幣68,100,000元。該等物業包括兩項土地使用權及七幢工廠大廈。本集 ...

Financial Performance - The company's revenue for the year was approximately RMB 37.1 million, a decrease of 32.3% compared to RMB 54.8 million for the year ended December 31, 2021, primarily due to significant adverse impacts from the shutdown of battery production and sales in Shanghai [9]. - Gross profit for the year was approximately RMB 7.8 million, an increase of 15.5% compared to RMB 6.8 million for the year ended December 31, 2021 [9]. - The net loss and total comprehensive expenses for the year were approximately RMB 50.7 million, a decrease of about 17.2% compared to RMB 61.3 million for the year ended December 31, 2021, indicating an improvement in profitability [9]. - The company reported a loss per share of RMB 0.0705, compared to a loss per share of RMB 0.0685 for the year ended December 31, 2021 [9]. - Total revenue decreased by RMB 17,700,000 or 32.3% to RMB 37,100,000 for the year ended December 31, 2022, primarily due to reduced sales of energy storage products caused by the resurgence of COVID-19 in China [16]. - Cost of sales and services decreased by 39.0% to RMB 29,300,000, aligning with the revenue decline [17]. - Other income rose by approximately RMB 700,000 or 5.6% to RMB 13,300,000, mainly due to increased government subsidies for clean energy activities [19]. - The company reported other losses of approximately RMB 26,300,000, compared to other income of RMB 14,900,000 in the previous year, primarily due to fair value losses on properties [20]. - Selling and distribution expenses increased by RMB 3,400,000 or 278.0% to RMB 4,600,000, driven by intensified marketing efforts [23]. - Administrative and general expenses decreased by RMB 1,200,000 or 3.3% to RMB 35,700,000, consistent with the revenue decline [24]. - Research and development expenses remained stable at RMB 3,400,000, with ongoing investments in improving energy storage system efficiency [25]. - The company recorded a pre-tax loss of approximately RMB 48,200,000, a decrease of RMB 11,700,000 or 19.6% from the previous year [27]. - The group reported a net loss of approximately RMB 50,689,000 for the year [193]. Future Outlook - The company is optimistic about future growth opportunities in the solar energy sector, driven by global trends in climate change and environmental justice [8]. - The company anticipates diversified and stable profit growth as the electric vehicle and green energy sectors gain global attention [14]. - The company plans to continue developing solar energy businesses, including investment, development, construction, and operation of solar photovoltaic power stations [14]. - The company plans to issue 155,414,011 shares at HKD 0.157 per share, which will help repay loans totaling HKD 18,380,000 [195]. - The company anticipates a gradual recovery of its business in 2023 as COVID-related travel bans and quarantine measures are lifted in China [195]. Debt and Liquidity - A property sale agreement was signed for RMB 180 million, with a deposit of RMB 179.5 million received, aimed at improving the company's liquidity [13]. - Net debt as of December 31, 2022, was approximately RMB 164,200,000, an increase from RMB 113,500,000 the previous year [32]. - As of December 31, 2022, the group reported a net current liability of approximately RMB 192,258,000 [46]. - The group's debt-to-equity ratio as of December 31, 2022, was 2.8, with net liabilities amounting to approximately RMB 164,200,000 [47]. - The group is in discussions with creditors regarding debt restructuring and aims to implement these plans by December 31, 2023 [48]. - The group plans to sell low-utilization assets and properties to improve its capital structure and reduce its debt ratio [47]. - The company received RMB 180,000,000 from the sale of properties in Shanghai to repay debts and support general working capital [195]. - The net cash proceeds from the third subscriber's payment are expected to be approximately HKD 5,620,000, intended for debt repayment [195]. Corporate Governance - The company has maintained good corporate governance practices, focusing on transparency and accountability to shareholders [116]. - The board of directors consists of five members, including one executive director and two independent non-executive directors [155]. - The independent non-executive directors play a crucial role in the board, providing unbiased opinions on the group's strategy and performance [162]. - The company has established multiple channels for independent non-executive directors to express their opinions openly as needed [164]. - The audit committee, consisting of two independent non-executive directors, has reviewed the financial statements for the six months ending June 30, 2022, and confirmed compliance with applicable accounting standards [179]. - The company has implemented a mechanism for the nomination committee to review the effectiveness of the independent director system annually [165]. - The board meetings are held regularly to discuss the overall strategy, operations, and financial performance of the group [171]. - The company has purchased appropriate insurance for potential legal actions against directors and senior officers [168]. - The company is focused on ensuring compliance with corporate governance policies and regulations [189]. Shareholder Information - The company’s major shareholders include Zhang Yi, holding approximately 18.00% of the issued shares, and Dai Ji, holding approximately 8.53% [80]. - Major shareholders include Carrie Wang with 142,470,887 shares (18.00%) and Fonty with 130,513,461 shares (16.49%) as of December 31, 2022 [84]. - The company’s major shareholders also include Advanced Gain Limited with 47,728,179 shares (6.03%) and Sun Da with 104,885,179 shares (13.25%) as of December 31, 2022 [84]. - The company has a total of 32,176,544 shares potentially issuable upon exercise of all unexercised options under the old share option scheme, representing approximately 4.06% of the issued share capital [87]. - The new share option scheme allows for a total of 22,982,956 shares to be issued upon exercise of options, which is approximately 2.90% of the issued share capital as of December 31, 2022 [92]. - The company did not declare any dividends for the year due to plans to retain cash for operational needs and potential future investment opportunities [65]. - As of December 31, 2022, there were no distributable reserves available for shareholders [68]. Operational Highlights - The company primarily engages in solar energy business, focusing on distributed generation projects for industrial, commercial, and residential buildings [61]. - The company provides solar EPC services for distributed generation projects primarily to clients in various provinces including Guangdong, Fujian, and Zhejiang [14]. - The largest customer accounted for 30.5% of total sales, while the top five customers together represented 73.5% of total sales [136]. - The largest supplier accounted for 46.9% of total procurement, and the top five suppliers together represented 90% of total procurement [137]. - The company has established long-term relationships with suppliers, averaging approximately 12 years, ensuring stable supply of polysilicon feedstock [138]. - The company is committed to environmental protection and has implemented measures to comply with environmental laws and regulations, including wastewater and chemical waste management [140]. Risk Management - The board is responsible for the effectiveness of the internal control and risk management systems, which are designed to manage risks associated with business objectives [122]. - The company has adopted financial risk management policies to manage currency, interest rate, credit, and liquidity risks, with monthly reviews of management accounts and capital structure [124]. - The company has implemented strict policies to ensure compliance with applicable laws and regulations, including hiring professional consultants to stay updated on regulatory developments [125]. - The company has no significant liabilities related to retirement benefits beyond the mandatory contributions to the MPF scheme [133]. - The company has complied with all relevant laws and regulations that have a significant impact on its operations during the reporting period [143]. Audit and Compliance - The audit committee has reached a consensus with management regarding the actions to address the audit opinion [197]. - The company paid RMB 1,100,000 for audit services and RMB 150,000 for non-audit services to its auditor during the year [199].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 卡姆丹克太陽能系統集團有限公司 Comtec Solar Systems Group Limited （於開曼群島註冊成立的有限公司） （股份代號：712） 截至二零二二年十二月三十一日止年度 的年度業績公佈 業績摘要 • 年內收益約為人民幣37,100,000元，較截至二零二一年十二月三十一日止年 度約人民幣54,800,000元同比減少32.26%； • 年內毛利約為人民幣7,800,000元，較截至二零二一年十二月三十一日止年 度約人民幣6,800,000元同比增加15.46%； • 年內毛利率約為21.0%，而截至二零二一年十二月三十一日止年度的毛利率 則為12.3%； • 年內本公司擁有人應佔淨虧損約為人民幣55,800,000元，較截至二零二一年 ...

Credit Impairment and Expected Credit Loss - The audited financial results reported a credit impairment loss of approximately RMB 22,600,000 for the fiscal year 2021, with trade receivables and other receivables contributing RMB 20,400,000 and RMB 2,200,000 respectively [7]. - The expected credit loss provision for the fiscal year 2021 was estimated at approximately RMB 37,500,000, compared to a carryover of approximately RMB 35,400,000 from the fiscal year 2020 [5]. - The largest non-credit impaired debtor's outstanding balance decreased significantly from approximately RMB 22,370,000 as of December 31, 2021, to approximately RMB 750,000 by September 30, 2022, indicating a substantial reduction in credit risk [13]. - The expected credit loss model adopted a 35% expected credit loss rate based on Moody's global default rates for the fiscal year 2021, reflecting a conservative approach [6]. - The majority of the group's trade receivables were overdue for more than 180 days, leading to a higher expected credit loss value due to the aging of receivables [9]. - The company did not recognize any provision for expected credit losses in the unaudited results due to the initial assessment being below RMB 2,100,000 [5]. - The independent valuation firm applied a simplified flow rate matrix method to determine the expected credit loss rate, which increased with the aging of receivables [9]. - The board emphasized that the expected credit loss provision is a forward-looking estimate and does not represent actual losses incurred [11]. - The company plans to adjust the impairment loss for prudence based on subsequent events after the publication of the unaudited results [6]. Audit Process and Delays - The company faced delays in the audit process due to COVID-19 restrictions in China, impacting the assessment of financial assets [3]. Company Leadership - The executive director is Mr. Zhang Yi, with non-executive directors Mr. Dai Ji and Mr. Qiao Fenglin, and independent non-executive directors Dr. Zhen Jiasheng and Mr. Jiang Qiang [15].

Revenue and Profitability - The revenue from the solar business decreased by RMB 33,400,000 or 66.3% to RMB 17,000,000 for the six months ended June 30, 2022, compared to RMB 50,400,000 for the same period in 2021[11]. - Revenue for the six months ended June 30, 2022, was RMB 16,971,000, a decrease of 66.3% compared to RMB 50,347,000 for the same period in 2021[80]. - Gross profit for the period was approximately RMB 5,800,000, a decrease of about 27.1% from RMB 7,900,000 in the same period last year[13]. - Gross profit for the same period was RMB 5,757,000, down 27.1% from RMB 7,902,000 in 2021[80]. - The pre-tax loss for the period was approximately RMB 5,900,000, a decrease of RMB 12,800,000 or 68.5% from a loss of RMB 18,700,000 in the same period last year[23]. - The company reported a pre-tax loss of RMB 5,900,000 (approximately $0.9 million) for the six months ended June 30, 2022[118]. - The total loss and comprehensive expenses for the period were approximately RMB 4,200,000, compared to RMB 18,800,000 in the same period of 2021[25]. - Total comprehensive loss for the period was RMB 4,242,000, compared to RMB 18,763,000 in the prior year, indicating a reduction in losses[80]. Expenses and Costs - The cost of sales and services decreased by 73.6% to RMB 11,200,000 for the six months ended June 30, 2022, from RMB 42,400,000 in the same period of 2021[12]. - Administrative expenses decreased by RMB 4,500,000 or 26.2% to RMB 12,900,000, compared to RMB 17,500,000 in the same period of 2021[18]. - Research and development expenses increased by RMB 100,000 or 6.9% to RMB 1,800,000, compared to RMB 1,700,000 in the same period of 2021[19]. - Interest expenses for the six months ended June 30, 2022, were RMB 7,851,000, compared to RMB 7,236,000 in the same period of 2021[91]. - The total employee costs for the six months ended June 30, 2022, amounted to RMB 3,291 thousand, down 29% from RMB 4,621 thousand in the same period of 2021[138]. Financial Position - As of June 30, 2022, the company's current ratio was 0.3, an increase from 0.2 as of December 31, 2021[27]. - The debt-to-equity ratio was 3.7 as of June 30, 2022, compared to 3.6 as of December 31, 2021[27]. - The company recorded a working capital deficit of approximately RMB 301.9 million as of June 30, 2022, down from approximately RMB 313.5 million as of December 31, 2021[27]. - The company’s total liabilities as of June 30, 2022, were RMB 405,385,000, compared to RMB 370,785,000 at the end of 2021, showing an increase in leverage[83]. - The company’s total equity attributable to owners as of June 30, 2022, was RMB (119,864,000), reflecting a decrease from RMB (79,987,000) in the previous year[88]. - The company’s cash and cash equivalents increased to RMB 42,614,000 as of June 30, 2022, up from RMB 5,526,000 in 2021[93]. Shareholder Information - The board decided not to declare an interim dividend for the period[26]. - The board decided not to declare an interim dividend for the six months ended June 30, 2022, to preserve cash for future operational needs and potential investment opportunities[40]. - Mr. Zhang holds 142,470,887 shares, representing approximately 18.0% of the company's issued share capital[45]. - Mr. Dai owns 67,500,000 shares, which is about 8.53% of the company's issued share capital[45]. - Fonty Holdings Limited has a beneficial ownership of 130,513,461 shares, equating to 16.49% of the issued share capital[49]. Debt and Financing - The company is actively negotiating with creditors regarding a debt repayment plan and aims to implement de-leveraging and restructuring solutions in the second half of 2022 and the next fiscal year[32]. - The company has received commitments from shareholders for financial support in the form of debt and/or equity to meet its financial obligations in the foreseeable future[100]. - The company is actively negotiating with interested parties for debt restructuring to facilitate discussions with creditors regarding loan repayment extensions[100]. - The company plans to sell leased land, buildings, and investment properties to provide additional operating funds[100]. - The company had other borrowings amounting to RMB 8,900,000, with interest rates ranging from 10% to 24%[157]. Asset Management - Non-current assets as of June 30, 2022, totaled RMB 219,329,000, down from RMB 234,557,000 at the end of 2021[83]. - Current assets increased to RMB 103,491,000 from RMB 57,332,000 at the end of 2021, reflecting improved liquidity[83]. - Trade receivables decreased significantly to RMB 1,097,000 from RMB 7,486,000, indicating tighter credit control[83]. - The company reported a financial asset impairment reversal of RMB 16,379,000, which was not present in the previous year[80]. - The company recorded a fair value loss on investment properties of RMB 6,621,000 for the six months ended June 30, 2022[91]. Stock Options and Employee Incentives - The total number of shares that may be issued upon the exercise of all unexercised options under the old share option scheme is 33,408,544 shares, approximately 4.22% of the issued share capital as of June 30, 2022[53]. - The total number of stock options granted as of December 31, 2021, is 33,401,544[61]. - The total number of stock options granted under the old plan includes various vesting percentages across multiple dates[68]. - The company continues to manage its stock option plans to align with corporate governance and employee retention strategies[72]. - The total compensation for directors and key management personnel for the six months ended June 30, 2022, was RMB 663,000, a decrease of 48.0% from RMB 1,278,000 in the same period of 2021[177].

Financial Performance - Revenue for the year was approximately RMB 54.8 million, a decrease of 0.3% compared to RMB 55 million for the previous year[9]. - Gross profit for the year was approximately RMB 6.8 million, an increase of 74.4% compared to RMB 3.9 million for the previous year[9]. - Net loss attributable to owners of the company was approximately RMB 53.2 million, a decrease of about 19% compared to RMB 65.7 million for the previous year[9]. - Loss per share for the year was RMB 6.85, compared to RMB 9.18 for the previous year[9]. - Total revenue decreased by RMB 200,000 or 0.3% to RMB 54,800,000 compared to the previous year, primarily due to a decline in revenue from solar power station installation services[16]. - Cost of sales and services decreased by 6.1% to RMB 48,100,000, mainly due to increased sales of energy storage products[17]. - Other income rose by RMB 4,400,000 or 53.7% to RMB 12,600,000, mainly due to increased rental income[20]. - Net other income increased by RMB 26,000,000 or 234.2% to RMB 14,900,000, primarily due to a reduction in fair value losses on investment properties and convertible bonds[21]. - The company recorded a pre-tax loss of approximately RMB 60,000,000, a decrease of RMB 10,900,000 or 15.4% compared to the previous year[25]. - The company reported a total loss of approximately RMB 61,300,000, an improvement from a loss of RMB 66,800,000 in the previous year[28]. Business Focus and Strategy - The company focuses on solar energy business, including consulting services for solar photovoltaic power stations and sales of lithium battery energy storage systems[10]. - The company provides EPC services for rooftop distributed generation projects, primarily serving clients from various provinces in China[10]. - The company anticipates benefiting from global trends in climate change and environmental justice, expecting continued improvement in business revenue and profitability[15]. - The company is optimistic about the future growth of profits due to the focus on the electric vehicle industry and green energy[15]. - The company has suspended its upstream manufacturing business and is focusing on downstream solar energy operations, including investment and operation of solar power plants[58]. - The company focuses on solar energy business, primarily engaging in distributed generation projects for industrial, commercial, and residential buildings, as well as providing lithium battery systems for electric vehicles and energy storage customers[79]. Asset Management and Sales - The company plans to sell low-utilization properties to reduce debt and improve working capital[31]. - The total land area of the properties is approximately 40,387.4 square meters, including two plots in Shanghai with areas of 27,823.60 square meters and 12,563.8 square meters respectively[42]. - The total construction area of the buildings on the properties is approximately 40,038.06 square meters, with five factory buildings on the first plot and two on the second[42]. - The properties were mortgaged to secure an outstanding loan amounting to approximately RMB 115,000,000, including accrued interest[42]. - The total consideration for the property transaction is RMB 180,000,000, with an initial deposit of RMB 10,000,000 already transferred to an escrow account[43][44]. - The estimated value of the properties as of December 31, 2021, was approximately RMB 169,000,000, based on independent valuation methods[47]. - The company expects to record an unaudited gain of approximately RMB 22,000,000 from the sale, based on the price minus the property’s book value of approximately RMB 120,000,000 as of December 31, 2021[57]. - The net proceeds from the sale, after deducting related expenses and taxes, are estimated to be around RMB 142,000,000, with approximately RMB 115,000,000 allocated for loan repayment and about RMB 27,000,000 for general working capital[57]. - The sale is seen as an opportunity to maximize shareholder returns by liquidating underutilized properties in a stagnant industrial property market in China[58]. Financial Position and Liquidity - As of December 31, 2021, the current ratio was 0.2, down from 0.3 the previous year, indicating liquidity challenges[30]. - The company aims to reduce its capital debt ratio and improve its working capital through the proceeds from the sale, which will strengthen its financial position and increase cash flow[61]. - As of December 31, 2021, the company recorded an unaudited net loss attributable to shareholders of approximately RMB 45,000,000, with current liabilities and total liabilities of approximately RMB 296,400,000 and RMB 97,100,000 respectively[61]. Corporate Governance - The board has decided not to declare any dividends for the period due to plans to retain cash for operational needs and potential future investment opportunities[83]. - As of December 31, 2021, there were no distributable reserves available for shareholders[86]. - The company has not made any charitable donations during the review year[87]. - The management team includes experienced professionals with backgrounds in finance, operations, and medical fields, enhancing the company's strategic capabilities[76][74]. - The company is committed to considering its dividend policy based on financial performance and overall industry and economic conditions in the future[84]. - The board of directors includes independent non-executive directors who provide independent opinions to the board[91]. - The company has no significant transactions or contracts involving directors or their related entities as of December 31, 2021[94]. - The company has established an Audit Committee, which consists of three independent non-executive directors, and has reviewed the financial statements for the six months ending June 30, 2021, ensuring compliance with applicable accounting standards[199]. - The Audit Committee held a total of seven meetings during the reporting period, with all members attending all meetings except for one member who attended one out of one meeting[200]. - The company has a Remuneration Committee responsible for recommending remuneration for all executive directors and senior management, ensuring compliance with corporate governance codes[200]. Risk Management - The company has adopted financial risk management policies to manage currency, interest rate, credit, and liquidity risks[147]. - The board is responsible for managing business risks, including market volatility and pricing pressures in the solar industry[146]. - The internal control and risk management systems have been reviewed and deemed sufficient and effective by the board[149]. Shareholder Information - As of December 31, 2021, Mr. Zhang Yi holds 143,470,887 shares, representing 18.12% of the company's issued share capital[98]. - Mr. Dai Ji owns 67,500,000 shares, accounting for 8.53% of the company's issued share capital[98]. - Fonty Holdings Limited, a major shareholder, possesses 131,513,461 shares, which is 16.61% of the total issued share capital[101]. - The company issued 22,556,896 shares on March 5, 2021, following the exercise of convertible bonds worth $2,000,000[104]. - A second issuance of 22,556,896 shares occurred on March 18, 2021, also related to the exercise of convertible bonds worth $2,000,000[105]. - The total number of shares outstanding increased to 778,288,502 after the second issuance[105]. Stock Option Plans - The company has a stock option plan adopted on October 2, 2009, aimed at incentivizing eligible individuals for future contributions[107]. - The new share option plan was adopted on December 31, 2018, and became unconditional on January 17, 2019, replacing the old plan[111]. - The total number of shares that may be issued under the new share option plan is capped at 10% of the total issued shares as of the adoption date, equating to 209,770,358 shares[111]. - The total number of stock options granted under the new stock option plan as of December 31, 2021, is 36,403,456[128]. - The company has implemented a stock option plan to incentivize and retain key personnel[123]. - The total number of stock options granted reflects the company's commitment to employee engagement and performance alignment[123]. Environmental Commitment - The company is committed to environmental protection and has implemented measures to comply with environmental laws and regulations[161].

Business Focus and Strategy - The company focuses on downstream solar business, particularly rooftop distributed generation projects for commercial and residential buildings, and lithium battery systems for electric vehicles and energy storage customers[9]. - A strategic cooperation framework agreement was signed with Jiangsu Changzhou Tianning Economic Development Zone Management Committee to develop a comprehensive cooperation in new energy asset trading platforms and renewable energy businesses[9]. - The company has closed capital-intensive upstream operations and is now concentrating on developing downstream solar businesses, including investment, development, construction, and operation of solar photovoltaic power stations[10]. - The company provides design, procurement, and construction (EPC) services for rooftop distributed generation projects to clients primarily from Guangdong, Fujian, Tianjin, Zhejiang, Shandong, Anhui, Hebei, Henan, Hubei, and Hunan[10]. - The company anticipates benefiting from global trends in climate change awareness and environmental justice, which are expected to improve business revenue and profitability[9]. - The company aims for diversified and stable profit growth by continuously supporting the global electric vehicle, green energy, and energy storage industries[10]. Financial Performance - Revenue increased by RMB 21,800,000 or 76.7% to RMB 50,300,000 for the six months ended June 30, 2021, primarily due to increased sales of energy storage products[12]. - Cost of sales and services rose by 44.4% to RMB 42,400,000, consistent with the revenue growth in downstream business[14]. - Gross profit increased by approximately 965.5% to RMB 7,900,000, compared to a gross loss of RMB 900,000 in the same period last year[15]. - Other income rose by approximately 12.3% to RMB 3,300,000, compared to RMB 3,000,000 in the same period last year[16]. - Other losses increased by 183.6% to RMB 3,200,000, primarily due to an increase in foreign exchange losses of approximately RMB 1,000,000[17]. - Research and development expenses increased by RMB 1,100,000 or 196.7% to RMB 1,700,000, reflecting active investment in new products and services[21]. - Loss before tax decreased by RMB 13,800,000 or 42.4% to RMB 18,700,000 compared to RMB 32,500,000 in the same period last year[23]. - Total loss and comprehensive expenses for the period amounted to approximately RMB 18,800,000, down from RMB 32,500,000 in the previous year[25]. - The company reported a net loss of RMB 19,501,000 for the six months ended June 30, 2021, compared to a net loss of RMB 31,161,000 for the same period in 2020, representing a 37.5% improvement in losses[156]. - The basic and diluted loss per share improved to RMB (2.56) from RMB (4.45) year-over-year[146]. Financial Position and Ratios - As of June 30, 2021, the current ratio was 0.3, and the debt-to-equity ratio was 5.6, indicating a stable financial position[27]. - Total assets as of June 30, 2021, were RMB 230,582,000, down from RMB 240,276,000 at the end of 2020[149]. - Current liabilities rose to RMB 416,439,000 from RMB 434,601,000, showing a decrease in overall liabilities[149]. - The company had cash and cash equivalents of RMB 5,526,000, up from RMB 5,126,000 at the end of 2020[149]. - The company’s total equity increased from RMB 2,556,000,000 as of January 1, 2021, to RMB 2,708,000,000 as of June 30, 2021[156]. - The company’s total liabilities decreased from RMB 1,899,517,000 as of January 1, 2021, to RMB 1,899,517,000 as of June 30, 2021[156]. Shareholder Information - The company will not declare an interim dividend for the six months ending June 30, 2021, due to plans to reserve cash for future operational needs and potential investment opportunities[41]. - As of the report date, the company maintained a public float of at least 25% of its issued shares as required by listing rules[43]. - Mr. Zhang holds 143,970,887 shares, representing an 18.50% equity interest in the company[47]. - Major shareholders include Fonty Holdings Limited with 132,013,461 shares (16.96%) and Mr. Sun with 104,885,179 shares (13.48%)[51]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[42]. - The company may consider its dividend policy based on financial performance, overall industry, and economic conditions in the future[41]. Environmental and Social Responsibility - The company reported zero harmful waste sludge and dust for the year 2020, indicating effective waste management practices[94]. - The company has implemented a greenhouse gas monitoring system to track emissions, ensuring compliance with environmental regulations[93]. - The company is committed to reducing its environmental impact and has established policies to promote energy efficiency and sustainable practices[100]. - The company has trained employees to enhance environmental awareness and promote a green office environment[100]. - The company has adhered to all applicable laws and regulations regarding corporate social responsibility during the reporting period[90]. - The company has established a waste monitoring system and upgraded pollution control facilities to further reduce emissions[97]. - The company has a long-term vision focused on minimizing operational environmental impacts and fostering community development through investments[89]. Employee Management and Welfare - The group had a total of 62 employees as of December 31, 2020, down from 122 in 2019[107]. - The overall employee turnover rate, after accounting for replacements and recruitment, was approximately 49% for the year ending December 31, 2020[109]. - Employee turnover rates by gender were 43% for females and 53% for males[110]. - The group has implemented internal policies to ensure compliance with labor regulations across local operations[117]. - The group has established a comprehensive benefits system to support employee development and promotion[118]. - The group is focused on enhancing employee welfare and communication to reduce turnover rates[110]. - The company reported zero work-related injuries and zero lost workdays in 2020, maintaining a safe working environment[121]. - Training hours significantly decreased to 98 hours in 2020 from 245 hours in 2019, primarily due to social distancing measures related to the COVID-19 pandemic[124]. Research and Development - The company is engaged in the research, production, and sales of high-efficiency monocrystalline products, energy storage products, and lithium battery products, as well as the investment and operation of solar photovoltaic power stations[163]. - Research and development expenses increased to RMB 1,712,000 from RMB 577,000, reflecting a focus on innovation[146]. Quality Control and Supplier Management - The company has a total of 154 suppliers in China, adhering to a transparent supplier qualification system based on price, quality, cost, delivery, and after-sales service[129]. - The company has implemented a quality management system to regulate production and improve product quality, aiming to reduce defective products and resource waste[129]. - The company has implemented strict quality assurance processes to ensure high-quality products and effective after-sales service[131]. Financial Activities and Cash Flow - The company has implemented a cash flow plan, including commitments from shareholders to provide necessary financial support[168]. - The company generated net cash inflow from investing activities of RMB 21,311,000 for the six months ended June 30, 2021, compared to RMB 4,268,000 in the same period of 2020[161]. - Operating cash flow before changes in working capital was RMB (4,316,000) for the six months ended June 30, 2021, an improvement from RMB (10,028,000) in the same period of 2020[159]. Challenges and Losses - The company recorded a loss of RMB (3,335,000) from the write-off of subsidiaries, indicating challenges in its subsidiary operations[191]. - The company reported a net foreign exchange loss of RMB (2,467,000), compared to a loss of RMB (1,461,000) in the previous year, indicating a significant increase in losses[191].

卡姆丹克 ® 卡 姆 丹 克 太 陽 能 系 統 集 團 有 限 公 司 Comtec Solar Systems Group Limited (於開曼群島註冊成立的有限公司) 股份代號: 712 | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | ■ ■ | | | | | | | | | | | | | | | 年度 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------|-------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | 目 錄 | | 公司資料 | | | | | | | | | 2 | | 主席報告 | | | | | | | | | 4 | | 管 ...