Financial Performance - For the year ended 31 December 2024, the Group achieved total revenue of approximately RMB 4,484 million, representing a year-on-year increase of approximately 2.8%[19] - The total profit before income tax amounted to approximately RMB 34 million, reflecting a year-on-year increase of approximately 21.0%[19] - The Group's gross profit for 2024 was approximately RMB 751 million, down from RMB 994 million in 2023[14] - The profit attributable to owners of the Company for 2024 was a loss of RMB 55 million, compared to a loss of RMB 22 million in 2023[14] - The Group achieved total revenue of approximately RMB 4.484 billion for the year ended December 31, 2024, representing a year-on-year increase of about 2.8%[24] - Gross profit decreased by approximately RMB243.7 million or approximately 24.5%, from approximately RMB994.9 million in 2023 to approximately RMB751.2 million in 2024[151] - Revenue from Solar EPC business increased by approximately 192.0%, while gross profit margin decreased from approximately 7.7% to approximately 5.7%[155] - Revenue from Wind Power EPC business amounted to approximately RMB801.3 million with a gross profit margin of approximately 2.8%[156] - Sale of electricity decreased by approximately 10.8% in 2024, with a gross profit margin of approximately 56.0% compared to 59.2% in 2023[157] - Distribution expenses increased by approximately RMB1.7 million or approximately 3.8%, in line with the increase in revenue[159] - Administrative expenses decreased by approximately RMB10.4 million or approximately 3.4% compared to 2023[164] Asset and Liability Management - Non-current assets increased to approximately RMB 8,803 million in 2024, up from RMB 8,528 million in 2023[14] - Current liabilities rose to approximately RMB 12,428 million in 2024, compared to RMB 10,796 million in 2023[14] - As of December 31, 2024, the Group had outstanding bank and other loans and bonds payable of approximately RMB7,622 million with effective interest rates ranging from 3.3% to 6.8%[165] - Capital expenditures for the year amounted to approximately RMB567.1 million, down from approximately RMB1,097.6 million in 2023[167] Operational Developments - The scale of the Group's self-owned power stations reached approximately 1.1GW by the end of 2024, with accelerated construction of implemented projects[21] - The Group signed several large-scale clean energy EPC contracts in Shandong, Hebei, and Guangdong, continuing to expand the revenue of the EPC general contracting business[22] - Key development projects in Gansu, Guangxi, and Hainan were progressing steadily, supporting the overall layout of clean energy projects[20] - The Group's self-owned power station capacity is approximately 1.1 GW, with ongoing projects in Gansu, Guangxi, and Hainan[25] Innovation and Recognition - The New Materials Company was recognized as a state-level specialized and innovative "little giant" enterprise and awarded the title "Guangdong Green Factory" during the year[23] - The Group completed acceptance reviews for 31 scientific research projects and initiated 20 new projects during the year, with 41 projects currently under research[27] - As of the end of 2024, the Group held 375 valid patents and software copyrights, with 52 new patents granted during the year[28] Corporate Governance - The Board held a total of 7 meetings during the reporting period[59] - At least one-third of the Board members are independent non-executive directors, in compliance with Listing Rules[50] - The Company will assess the independence of independent non-executive directors at least annually[50] - Directors are encouraged to express their views openly during Board meetings[50] - The Company provides sufficient resources for Directors to fulfill their duties and seek independent professional advice when necessary[53] - The Board meetings are held regularly at least four times a year, approximately quarterly[51] - Notice of board meetings is sent to all Directors at least 14 days prior to regular meetings[51] - Independent non-executive directors are required to confirm their independence annually[50] - The Company maintains an updated list of Directors, identifying independent non-executive directors and their roles[56] - The Board's composition reflects a balance of experience and diversity in nationality, ethnicity, and professional expertise[49] Board Composition and Diversity - The Board consists of 7 male directors and 1 female director, resulting in a male to female ratio of approximately 7:3 in the workforce, including senior management[100] - The Board has not set any measurable objectives for implementing the diversity policy during the year[100] - The current composition of the Board is considered sufficiently diversified in terms of gender for a company in the renewable energy sector[101] - The Nomination Committee will periodically discuss and agree on further measurable objectives for achieving diversity on the Board[101] Committees and Meetings - The Audit Committee held 3 meetings during the year ended December 31, 2024[84] - The Remuneration Committee held 1 meeting to assess individual performance of the Directors and review remuneration packages during the year ended December 31, 2024[91] - The Remuneration Committee did not recommend any bonuses or share options for the year ended December 31, 2024[93] - The Nomination Committee conducted five meetings in the year ended December 31, 2024, with two meetings focused on reviewing policies for senior management appointments and promotions[105] Internal Control and Risk Management - The Group's internal control systems are considered effective and adequate, with no material internal control weaknesses identified[119] - The Group is in the process of improving and establishing an internal control manual to enhance its internal control and risk management system[123] - The Board conducts periodic reviews of internal control and risk management systems at least annually[118] Shareholder Engagement - The Company maintains a transparent and timely disclosure policy to keep shareholders informed of business performance and strategies[125] - The annual general meeting provides a forum for direct dialogue between the Board and shareholders, with all relevant documents sent at least 20 business days prior[126] - The Company held its annual general meeting on June 27, 2024, where shareholders approved amendments to the existing bye-laws to align with Core Shareholder Protection Standards and applicable laws of Bermuda[140] Management Team - The Group has a strong management team with diverse backgrounds in finance, energy, and corporate governance[186] - The company is focused on expanding its operational capabilities and enhancing management efficiency through experienced leadership[179] - The Group's strategic direction includes leveraging expertise in energy management and financial operations to drive growth[178] - Continuous development of new strategies and technologies is a priority for the Group to maintain competitive advantage in the market[176]

Revenue and Financial Performance - Revenue for the year ended December 31, 2024, was RMB 4,484,454,000, representing an increase of 2.84% compared to RMB 4,360,280,000 in 2023[3] - For the year ending December 31, 2024, total revenue reached RMB 4,484,454,000, a slight increase from RMB 4,360,280,000 in 2023, representing a growth of approximately 2.84%[17] - The construction services segment generated RMB 3,066,637,000, accounting for 68.38% of total revenue, significantly up from RMB 1,671,698,000 (38.34%) in the previous year[17] - The revenue from solar EPC business increased by approximately 192.0% to RMB 1,795.0 million in 2024, while the gross margin decreased from 7.7% to 5.7%[30] - The revenue from wind EPC business was approximately RMB 801.3 million with a gross margin of 2.8%[31] Losses and Earnings Per Share - The company reported a loss attributable to owners of the company of RMB 55,137,000 for 2024, compared to a loss of RMB 22,743,000 in 2023, indicating a significant increase in losses[5] - Basic and diluted loss per share for the year was RMB (0.022), compared to RMB (0.009) in the previous year, reflecting a worsening financial position[5] - The company reported a basic loss per share of RMB (0.022) for the year ending December 31, 2024, compared to RMB (0.009) in 2023, indicating a deterioration in performance[22] Assets and Liabilities - Total assets increased to RMB 22,805,882,000 in 2024 from RMB 21,638,452,000 in 2023, showing a growth of approximately 5.39%[7] - Non-current assets rose to RMB 8,803,397,000 in 2024, up from RMB 8,528,079,000 in 2023, indicating a growth of about 3.21%[6] - Current liabilities increased to RMB 12,427,613,000 in 2024 from RMB 10,795,996,000 in 2023, representing an increase of approximately 15.11%[7] - The total equity attributable to owners of the company decreased to RMB 4,231,924,000 in 2024 from RMB 4,318,158,000 in 2023, a decline of approximately 1.99%[7] - Trade receivables increased to RMB 7,901,839,000 from RMB 6,111,527,000, reflecting a growth of approximately 29.3% year-over-year[23] - The total amount of trade receivables, net of provision for losses, was RMB 6,809,611,000, an increase from RMB 5,091,689,000 in 2023[23] - The accounts receivable for trade amounted to RMB 5,785.9 million as of December 31, 2024, an increase from RMB 4,382.6 million in 2023[24] - The accounts payable totaled RMB 4,325.5 million as of December 31, 2024, compared to RMB 3,338.1 million in 2023[25] Dividends - The company did not declare any final dividend for the year ended December 31, 2024, consistent with the previous year[3] - The company did not declare any dividends for the year ending December 31, 2024, consistent with the previous year[20] - The company did not recommend a final dividend for the year ended December 31, 2024, consistent with the previous year[38] Operating Profit and Expenses - The company reported a net operating profit of RMB 481,652,000 for 2024, down from RMB 547,842,000 in 2023, indicating a decline of about 12.06%[4] - The gross profit decreased by approximately RMB 243.7 million or 24.5% to about RMB 751.2 million in 2024, down from RMB 994.9 million in 2023[28] - The income tax expense for the year was RMB 17,058,000, slightly down from RMB 17,650,000 in 2023, with a corporate tax rate of 25% applicable to most subsidiaries[18] Capital Expenditures and Financing - Capital expenditures for the year were approximately RMB 567.1 million, down from RMB 1,097.6 million in 2023[37] - The company has outstanding bank loans and bonds totaling approximately RMB 7,622.2 million with interest rates ranging from 3.3% to 6.8%[36] - The company completed the issuance of the first batch of bonds amounting to RMB 100 million with a coupon rate of 3.45%[39] Governance and Compliance - The audit committee has been established in compliance with listing rules and is responsible for overseeing the financial reporting process and internal control procedures[42] - The audit committee consists of three independent non-executive directors, chaired by Mr. Yi Yongfa[42] - The financial figures in the announcement are consistent with the audited consolidated financial statements for the fiscal year 2024[44] - The annual performance announcement will be available on the Hong Kong Stock Exchange and the company's website[45] Future Outlook - The company expects to continue its operations based on the assessment of sufficient resources for the foreseeable future[9] - The company has not applied any new international financial reporting standards that are not yet effective, indicating a stable approach to accounting practices[11] - The company’s management is assessing the impact of the new international financial reporting standards but does not expect significant effects on the financial statements[12] - The company’s deferred tax assets and liabilities related to the new international tax regulations are currently not applicable, as the legislation has not yet come into effect[19] Share Incentive Plan - No instructions were given to purchase any shares using company resources for unexecuted rewards under the share incentive plan for the year ending December 31, 2024[43]

Financial Performance - The company reported a significant increase in revenue, achieving a total of HKD 1.2 billion for the first half of 2024, representing a 15% growth compared to the same period last year[6]. - The Group's revenue decreased by RMB 856 million or 38.3%, from RMB 2,232 million in the first half of 2023 to RMB 1,376 million in the first half of 2024[72]. - Revenue for the six months ended June 30, 2024, was RMB 1,375,933,000, a decrease of 38.4% compared to RMB 2,231,691,000 in the same period of 2023[99]. - Profit for the period was RMB 11,137,000, a significant decline from RMB 60,730,000 in the prior year, indicating a decrease of 81.7%[99]. - Total comprehensive loss for the period was RMB 21,812,000, compared to a total comprehensive income of RMB 7,372,000 in the same period of 2023[100]. - Basic and diluted loss per share attributable to owners of the Company was RMB (0.007), compared to earnings of RMB 0.009 per share in the previous year[103]. User and Market Growth - User data indicates a rise in active users to 3 million, up from 2.5 million, marking a 20% increase year-over-year[6]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[6]. - The company has provided a positive outlook for the second half of 2024, projecting a revenue growth of 10% to 12%[6]. Product and Service Development - New product launches are expected to contribute an additional HKD 300 million in revenue by the end of 2024[6]. - The company has not disclosed any new product or technology developments in the provided content[62]. Financial Management and Expenses - Research and development expenses increased by 30% to HKD 150 million, focusing on renewable energy technologies[6]. - Administrative expenses decreased by RMB 16.55 million or 10.6% due to various cost-saving policies implemented by the Group[83]. - The company reported net finance costs of RMB 257,688,000, an increase from RMB 231,875,000 in the prior year[99]. - The Group's finance costs for the six months ended June 30, 2024, included RMB 57,355 in interest on amounts due to related parties, compared to RMB 21,288 in 2023[166]. Corporate Governance and Compliance - The board of directors has confirmed compliance with corporate governance standards, ensuring effective accountability and transparency[6]. - Amendments to the bye-laws of the Company were approved by shareholders at the annual general meeting on June 28, 2024[8]. Share Option and Award Plans - The maximum number of shares that may be issued under the Share Option Scheme is 18,026,332 shares, representing 1.00% of the Company's issued share capital[11]. - The Share Option Scheme was terminated on December 19, 2018, and the options granted prior to termination remain valid until May 21, 2027[19]. - The New Share Option Scheme allows options to be exercised at any time during a 10-year period from the date of grant[31]. - The Share Award Plan allows for a total of 75,632,453 shares to be purchased, which is 3% of the issued share capital as of the report date[43]. Assets and Liabilities - As of June 30, 2024, total assets amounted to RMB 20,689,317, a decrease of 4.4% from RMB 21,638,452 as of December 31, 2023[106]. - Total liabilities related to contracts with customers increased from RMB 68,641 as of December 31, 2023, to RMB 109,869 as of June 30, 2024, for construction services[163]. - The total cash outflow for leases for the six months ended June 30, 2024, was RMB 24,295,000, compared to RMB 18,622,000 for the same period in 2023, indicating a year-over-year increase of 30.5%[186]. Cash Flow and Financing Activities - For the six months ended June 30, 2024, net cash used in operating activities was RMB (127,953,000), a significant decrease compared to RMB 340,086,000 in the same period of 2023[119]. - The company reported a repayment of bank and other loans totaling RMB (1,968,264,000) for the six months ended June 30, 2024, compared to RMB (1,254,525,000) in the same period of 2023[121]. - Cash and cash equivalents stood at RMB 215,953, a significant increase from RMB 1,883,283, indicating a change in liquidity management[106]. Risk Management - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[132]. - There have been no significant changes in risk management policies since the year ended December 31, 2023[132]. Segment Performance - Revenue from construction services was RMB 570,211, accounting for 41.44% of total revenue, down from RMB 840,521 (37.66%) in 2023[146]. - Revenue from product sales was RMB 419,657, representing 30.50% of total revenue, a significant decline from RMB 948,821 (42.52%) in 2023[146]. - Revenue from electricity sales increased to RMB 328,733, which is 23.89% of total revenue, compared to RMB 388,998 (17.43%) in 2023[146].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 1,375,933, a decrease of 38.4% compared to RMB 2,231,691 for the same period in 2023[1] - Gross profit for the same period was RMB 444,858, down from RMB 503,783, representing a decline of 11.6%[2] - The company reported a loss attributable to owners of the company of RMB (16,461) for the six months ended June 30, 2024, compared to a profit of RMB 23,835 in the prior year[3] - Operating profit decreased to RMB 293,577 from RMB 311,577, a decline of 5.8% year-on-year[2] - For the six months ended June 30, 2024, the total revenue of the group was RMB 1,375,933 thousand, compared to RMB 2,231,691 thousand for the same period in 2023, representing a decrease of approximately 38.3%[13] - The group reported a gross profit of RMB 444,858 thousand for the six months ended June 30, 2024, down from RMB 503,783 thousand in the same period of 2023, indicating a decline of about 11.6%[13] - The net loss attributable to equity holders for the six months ended June 30, 2024, was RMB (16,461) thousand, compared to a profit of RMB 23,835 thousand for the same period in 2023[17] - The basic loss per share for the six months ended June 30, 2024, was RMB (0.007), compared to earnings of RMB 0.009 per share for the same period in 2023[17] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 20,689,317, down from RMB 21,638,452 as of December 31, 2023, indicating a decrease of 4.4%[4] - Non-current liabilities decreased to RMB 5,047,503 from RMB 5,433,710, a reduction of 7.1%[5] - Current liabilities totaled RMB 10,817,528, slightly up from RMB 10,795,996, reflecting a marginal increase of 0.2%[5] - The company’s cash and cash equivalents were RMB 215,953 as of June 30, 2024, compared to RMB 1,883,283 at the end of 2023, indicating a significant decrease[4] Revenue Breakdown - The group’s construction services segment generated revenue of RMB 632,679 thousand for the six months ended June 30, 2024, down from RMB 840,521 thousand in the same period of 2023, a decrease of about 25%[13] - The product sales segment reported revenue of RMB 618,055 thousand for the six months ended June 30, 2024, compared to RMB 1,362,769 thousand for the same period in 2023, a decline of approximately 54.6%[13] - Revenue for the first half of 2024 decreased by RMB 855.8 million or 38.3% to RMB 1,375.9 million compared to RMB 2,231.7 million in the same period of 2023[25] - Gross profit decreased by RMB 59 million or 11.7%, from RMB 504 million in the first half of 2023 to RMB 445 million in the first half of 2024[25] - The construction contract revenue from curtain walls and green buildings decreased by 53.3%, while the gross margin increased from 6.7% to 7.7%[26] - Solar EPC revenue decreased by 3.0%, with gross margin improving from 8.9% to 20.7% due to lower material costs and more quality projects[27] - Power sales revenue decreased by 15.5%, maintaining a stable gross margin of 56.0%[28] - Product sales revenue decreased significantly due to intense competition in the photovoltaic business[29] Expenses and Costs - The company’s financing costs increased to RMB (267,747) from RMB (246,626), representing an increase of 8.5% year-on-year[2] - Administrative expenses decreased by RMB 16.55 million or 10.6% due to cost-saving measures implemented by the company[32] Capital and Investments - Capital expenditure for the period was RMB 218 million, primarily for the investment in self-operated solar power plants[33] - As of June 30, 2024, the company had outstanding bank and other loans of approximately RMB 6.959 billion, with interest rates ranging from 4.74% to 6.64%[34] - The group has capital commitments of RMB 539,906 thousand as of June 30, 2024, compared to RMB 543,365 thousand as of December 31, 2023[38] Corporate Governance and Strategy - The group aims to enhance economic efficiency and transition into a leading clean energy operator, focusing on high-quality development and core competitiveness[37] - The group plans to increase ESG responsibility investments and promote sustainable social development through clean energy and low-carbon construction industries[37] - The audit committee, composed of three independent non-executive directors, has reviewed the group's interim performance announcement[43] - The company has adopted good corporate governance elements to ensure effective accountability and compliance with the Hong Kong Stock Exchange listing rules[41] - The company’s articles of association were amended and approved by shareholders at the annual general meeting held on June 28, 2024[45] Employee and Dividend Information - As of June 30, 2024, the total number of employees in the group is 1,165, down from 1,243 as of December 31, 2023[39] - The group did not recommend the payment of an interim dividend for the period, consistent with the previous year[18] - The company does not recommend the distribution of any interim dividend for the six months ended June 30, 2024, consistent with the previous year[40] Miscellaneous - No significant acquisitions or disposals of subsidiaries or joint ventures occurred during the reporting period[35] - No purchases, sales, or redemptions of the company's listed securities occurred during the reporting period[44] - The mid-term performance announcement is available on the Hong Kong Stock Exchange website and the company's website[46]

Corporate Governance - The Company has introduced measures to comply with the Corporate Governance Code, focusing on promoting an ethical and healthy corporate culture[4] - The Company welcomes shareholder views and suggestions to enhance transparency and improve current practices[6] - The Company has no internal audit function; effectiveness of internal controls is reviewed by an external independent professional advisor[11] - The Company maintains a transparent and timely disclosure policy to keep shareholders informed of business performance and strategies[14] - The annual general meeting (AGM) provides a platform for direct dialogue between the Board and shareholders, with all relevant documents sent at least 20 business days prior[15] - The Board considers the policies regarding shareholders' communication effective for the year ended December 31, 2023[19] - The Company will continue to review and improve its practices based on experience and regulatory changes[6] - The Company has revised its existing articles of association to align with the Listing Rules and Bermuda laws[2] - The Company engages independent scrutineers to ensure proper counting of votes at general meetings[18] Financial Performance - The company reported a revenue of RMB XX million for the year ended December 31, 2023, representing an increase/decrease of XX% compared to RMB XX million in 2022[31] - For the year ended December 31, 2023, the Group achieved total revenue of RMB4,360 million, representing a year-on-year decrease of 15.3%[44] - The operating profit amounted to approximately RMB548 million, reflecting a year-on-year decrease of 6.0%[44] - The total profit before tax was RMB28 million, indicating a significant year-on-year decrease of 80.3%[44] - Revenue from the clean energy business was RMB1.380 billion, down 53.6% year-on-year, while tariff revenue increased by 10.8% to RMB766 million[45] - The green building business generated revenue of RMB1,057 million, a slight decrease of 1.8% year-on-year[45] - Revenue from the new material business reached RMB85 million, representing a year-on-year increase of 9.1%[45] - Revenue for the year ended December 31, 2023, was RMB 4,360,280, compared to RMB 5,146,301 in 2022, representing a decrease of approximately 15.2%[157] - Gross profit for the year was RMB 994,876, down from RMB 1,125,050 in the previous year, indicating a decline of about 11.6%[157] - Operating profit decreased to RMB 547,842 from RMB 582,532, reflecting a reduction of approximately 5.9%[157] - Profit for the year was RMB 10,729, significantly lower than RMB 108,084 in 2022, marking a decline of around 90.1%[157] - Total comprehensive loss for the year amounted to RMB 5,590, compared to a total comprehensive income of RMB 1,724 in 2022[157] Board Structure and Composition - The board of directors saw changes with Mr. Wang Dongkai appointed as Chairman on April 27, 2023, and Mr. Zhou Guangyan as Vice-chairman on March 12, 2024[36] - The Company has established an audit committee to oversee financial reporting and internal control procedures, ensuring compliance with listing rules[58] - The Board of Directors consists of nine members, including three executive directors and six non-executive directors, ensuring a strong independent element[66] - The Board meets at least four times a year, with additional ad-hoc meetings as necessary to discuss overall strategy and financial performance[71] - At least one-third of the Board consists of independent non-executive directors, ensuring compliance with Listing Rules[75] - The Board encourages open and candid expression of views during meetings[75] - The Company has established an Audit Committee consisting of three independent non-executive Directors, which reviewed the consolidated financial statements for the year ended December 31, 2023[101] Risk Management and Internal Controls - The Board reviewed the Company's risk management and internal control systems for the year ended December 31, 2023, deeming them effective and adequate[6] - The Company plans to improve and establish an internal control manual to enhance its internal control and risk management system[154] - The Board considers the internal control systems of the Group to be effective and adequate[149] - No material internal control weaknesses have been identified according to the external independent professional advisors[153] Research and Development - During the year, the Company added 60 new patents, including one international patent[50] - The R&D of key technology for new LCD dimming products won the first prize in the Guangdong High-Tech Enterprise Association's science and technology award[50] - The company aims to transform into a leading clean energy enterprise with core competitiveness, focusing on high-quality green power operations[53] - The company is investing $100 million in R&D for new technologies aimed at improving energy efficiency[197] Shareholder Engagement - The company is actively engaging with shareholders, allowing them to submit inquiries in writing to the principal office in Hong Kong[36] - The Company has adopted the Model Code for Securities Transactions by Directors, confirming compliance throughout the year[62] - The Company has been recognized for its corporate governance practices, ensuring transparency and accountability to protect shareholder interests[60] Future Outlook and Strategy - The company is exploring new strategies for market expansion and product development, although specific details were not disclosed in the provided content[31] - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to $1.32 billion[198] - New product launches are expected to contribute an additional $200 million in revenue, with a focus on renewable energy solutions[199] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[200] - A strategic acquisition of a local competitor is anticipated to enhance operational efficiency and is expected to generate $50 million in cost savings annually[196] Financial Liabilities and Equity - Total liabilities increased to RMB 16,229,706, up from RMB 13,938,965, representing a growth of approximately 17.4% year-over-year[160] - Current liabilities rose to RMB 10,795,996, compared to RMB 8,024,696 in the previous year, indicating an increase of about 34.6%[160] - The total equity of the Group was reported at RMB4,886,709,000[183] - The Group's retained profits were reported at RMB1,785,080,000[183]

Financial Performance - Revenue from electricity sales increased to RMB 453 million, representing a 9.8% growth compared to RMB 412.6 million in the previous year [17] - Revenue for the year ended December 31, 2023, was RMB 4,360,280 thousand, a decrease of 15.2% from RMB 5,146,301 thousand in 2022 [41] - The company reported a basic loss per share of RMB (0.009) for the year ended December 31, 2023, compared to a profit of RMB 0.017 in the previous year [39] - The net profit attributable to the owners of the company was a loss of RMB 22,743 thousand, compared to a profit of RMB 43,418 thousand in the previous year [42] - The company reported a total comprehensive loss of RMB 5,590 thousand for the year, compared to a comprehensive income of RMB 1,724 thousand in 2022 [56] - Basic and diluted earnings per share for the year were RMB (0.009), down from RMB 0.017 in 2022 [42] - For the year ended December 31, 2023, total revenue decreased by RMB 786 million or 15.3% to RMB 4,360.3 million from RMB 5,146.3 million in 2022 [105] - Gross profit for the year ended December 31, 2023, decreased by RMB 130.2 million or 11.6% to RMB 994.9 million from RMB 1,125.1 million in 2022 [105] Assets and Liabilities - Total assets and net assets of Zhuhai Jiudui as of October 28, 2023, were RMB 113.67 million and RMB 5.848 million, respectively [4] - Total assets increased to RMB 21,638,452 thousand from RMB 19,400,334 thousand, representing an increase of 11.5% [58] - The company's outstanding bank and other loans amounted to approximately RMB 8.966 billion, with effective interest rates ranging from 4.5% to 6.5% [82] - The total assets and net assets of Tongyu Qiang Wind Power Co., Ltd. at the time of sale were RMB 840,201,000 and RMB 51,096,000, respectively [62] Expenses - Administrative expenses decreased by RMB 75.8 million or 19.8% compared to the previous year [22] - The company’s distribution expenses decreased by RMB 23.3 million or 34.1%, aligning with the overall revenue decline [81] Capital Expenditures - Capital expenditures for the year amounted to RMB 1,097.6 million, down from RMB 1,132.9 million in the previous year, primarily for wind and solar photovoltaic projects [24] - The capital expenditure for the year 2023 was RMB 543,365,000, down from RMB 1,166,586,000 in 2022 [84] Revenue Segmentation - Revenue from the facade and green building segment decreased by 1.8%, with a gross margin decline from 9.7% to 8.0% [18] - Revenue from construction services was RMB 1,671.7 million, accounting for 38.34% of total revenue, while product sales increased significantly to RMB 1,851.5 million, representing 41.64% of total revenue [104] - Solar EPC business revenue increased by 64.8% to RMB 614.7 million, with gross margin rising from 0.9% to 7.7% [78] - Electricity sales revenue grew by 10.8% in 2023, with a stable gross margin of 59.2% compared to 59.7% in 2022 [108] Dividends and Recommendations - The company does not recommend a final dividend for the year ending December 31, 2023, consistent with the previous year [11] - The company did not declare any dividends for the year ended December 31, 2023, compared to RMB 45.2 million distributed in 2022 [99] Acquisitions and Sales - Zhuhai Jiudui New Energy Technology Co., Ltd. increased its equity stake to 90% for a cash consideration of RMB 82 million, resulting in a gain of RMB 10.298 million recognized in "other income" [4] - Hunan Green Energy acquired 51% equity in Shui Fa Clean Energy for a total subscription price of RMB 503,774,500 (approximately HKD 569,265,185) on March 29, 2023 [61] - Tongyu Gaodengsai Power Co., Ltd. sold 100% equity of Tongyu Qiang Wind Power Co., Ltd. to Qingdao Chengtai Green Energy Co., Ltd. for RMB 67,000,000, generating a profit of RMB 15,904,000 [62] - The company recognized a gain of RMB 19,669 thousand from the sale of subsidiaries during the year [47] Other Information - The company has no significant post-reporting date events to disclose as of the approval date of the financial statements [30] - The company holds a cumulative project scale of approximately 955 MW, including distributed and centralized photovoltaic power stations in mainland China and one overseas solar power station [108] - The company’s subsidiaries in mainland China can enjoy a preferential tax rate of 15% due to their qualification as high-tech enterprises [97] - The company did not experience any dilution effect as the exercise price of share options was higher than the average market price of its shares [100] - The company has not made any acquisitions or significant market expansions during the reporting period [115] - The company’s financial performance has been reviewed by its audit committee, ensuring compliance with financial reporting standards [118]

Financial Performance - For the six months ended June 30, 2023, total revenue was RMB 2,231,691, a decrease of 27.7% compared to RMB 3,085,905 for the same period in 2022[51]. - Domestic revenue from Mainland China accounted for 90.02% of total revenue at RMB 2,008,934, down from 97.19% in the previous year[51]. - Overseas revenue increased to RMB 222,757, representing 9.98% of total revenue, compared to 2.81% in the prior year[51]. - Construction contracts revenue for the six months ended June 30, 2023, was RMB 11,376, significantly down from RMB 49,979 in 2022[56]. - Sale of products revenue decreased to RMB 133,187 from RMB 168,569 in the same period last year[56]. - Total income for the six months ended June 30, 2023, was RMB 14,991,000, representing a 22.5% decrease from RMB 19,296,000 in 2022[57]. - Service income significantly declined to RMB 698,000, a decrease of 75.7% compared to RMB 2,869,000 in the same period last year[57]. Cash Flow and Financing Activities - For the six months ended June 30, 2023, the net cash used in financing activities was RMB (20,213,000), a significant decrease compared to RMB 760,791,000 in the same period of 2022[3]. - The total cash and cash equivalents at the end of the period were RMB 435,660,000, down from RMB 934,870,000 at the end of June 2022, indicating a decrease of approximately 53.4%[3]. - The Group's capital injection by a non-controlling shareholder was RMB 39,995,000, a decrease from RMB 542,198,000 in the previous year[3]. - Interest paid during the period was RMB (153,808,000), a slight decrease from RMB (158,733,000) in the previous year[3]. - The cash outflow for leases for the six months ended June 30, 2023, was RMB 2,646,000, compared to RMB 3,045,000 for the same period in 2022, showing a decrease of about 13.1%[95]. - Cash flows used in investing activities totaled RMB 380,128,000 for the six months ended June 30, 2023, a decrease from RMB 818,615,000 in the same period of 2022, indicating a 53.6% reduction[120]. - The Group's cash generated from operations was RMB 361,447,000, with income tax paid amounting to RMB 21,361,000 for the six months ended June 30, 2023[120]. Borrowings and Liabilities - The Group's borrowings, including interest payable, amounted to RMB 2,798,796,000 as of June 30, 2023, compared to RMB 1,456,861,000 at the end of the previous year, reflecting an increase of approximately 92.3%[7]. - The Group's trade and bills payables stood at RMB 3,102,262,000, indicating a stable liability position[7]. - Total segment liabilities as of June 30, 2023, were RMB 13,915,722, compared to RMB 7,852,744 in borrowings[44]. - The Group's total liabilities were RMB 13,915,722,000 as of June 30, 2023, slightly up from RMB 13,900,638,000 at the end of 2022[188]. - Current liabilities increased to RMB 8,296,531,000 as of June 30, 2023, compared to RMB 7,986,369,000 at the end of 2022[188]. Assets and Investments - The total assets of the group as of June 30, 2023, were RMB 19,362,007, compared to RMB 13,900,638 in the previous year[24]. - Segment assets after elimination as of June 30, 2023, totaled RMB 19,342,965, compared to RMB 13,915,722 as of December 31, 2022[44]. - The net carrying amount of property, plant, and equipment was approximately RMB 4,948,491,000, down from RMB 5,338,928,000 as of December 31, 2022, representing a decrease of about 7.3%[90]. - The Group's non-current assets decreased to RMB 91,849,000 as of June 30, 2023, from RMB 116,057,000 in the previous year[68]. - The total contract assets as of June 30, 2023, amounted to RMB 3,912,221,000, slightly up from RMB 3,904,782,000 as of December 31, 2022, indicating a marginal increase of 0.4%[99]. - The net carrying amount of investment properties as of June 30, 2023, was RMB 338,526,000, slightly up from RMB 334,797,000 as of December 31, 2022, representing an increase of approximately 1.1%[97]. Shareholder and Equity Information - The equity attributable to the equity holders of the Company was RMB 4,327,854,000 as of June 30, 2023, down from RMB 4,357,557,000 at the end of 2022[188]. - Non-controlling interests increased to RMB 1,099,389,000 as of June 30, 2023, from RMB 1,103,812,000 at the end of 2022[188]. - The Group did not recommend the distribution of an interim dividend for the period[155]. Accounting and Compliance - The financial statements for the six months ended June 30, 2023, have not been audited and are presented in Renminbi (RMB)[133]. - The company adopted several new and amended accounting standards effective January 1, 2023, without making retrospective adjustments, which may impact future financial reporting[111]. - The company has not recognized any share option expense during the reporting period, as all expenses related to the share option scheme had been fully amortized prior to January 1, 2022[109]. Other Notable Events - The acquisition of 51% equity in Shuifa Clean Energy was completed on March 29, 2023, for a total subscription price of RMB 503,774,500 (approximately HK$569,265,185)[133]. - Tongyu Gaodengsai Electric Power Co., Ltd. disposed of 100% equity interests in Tongyu Qiangfeng Power Co., Ltd. for a cash consideration of RMB 67,000,000, resulting in a gain of RMB 15,904,000 recorded in "Other gains – net"[137].

本集團資金的主要來源包括銀行及其他借貸、水發集團墊款以及應收項目合約、產 品銷售及電力銷售收入。於二零二三年六月三十日，本集團的未償還銀行及其他貸 款約為人民幣78.53億元，而未償還債券約為人民幣1.78億元。 此外，本集團亦有應付水發集團的未償還結餘約人民幣2.06億元，該款項按年利率 6%計息。 於報告期間後，本集團並無任何重大期後事項。 承擔 | --- | --- | --- | |--------------------------|--------------|----------------| | | | | | | 二零二三年 | 二零二二年 | | | 六月三十日 | 十二月三十一日 | | | 人民幣千元 | 人民幣千元 | | | （未經審核） | （經重列） | | | | | | 已訂約但未撥備： | | | | 權益投資注資 | 889,461 | 995,074 | | 建設樓宇及太陽能光伏電站 | 48,686 | 171,512 | | | 938,147 | 1,166,586 | 股息 審核委員會 本公司遵守上市規則第3.21至3.23條及守則第D.3段的規定，成立審核 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 China Shuifa Singyes Energy Holdings Limited 750 業績保證更新 及 有關截至二零二一年及二零二二年十二月三十一日止年度年報的澄清 業績保證更新 茲提述中國水發興業能源集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）日期 為二零二零年十二月十五日及二零二一年一月五日之公告（「該等公告」），內容有關涉及 本公司間接全資附屬公司珠海興業綠色建築科技有限公司（「投資者」）向江西亞興建設有 限公司（「目標公司」）收購合共40%股權及注資人民幣19,900,000元的須予披露交易。除文 義另有所指外，本公告「業績保證更新」一節中所用詞彙與該等公告所界定者具有相同涵 義。 本公告乃本公司根據香港聯合交易所有限公司證券上市規則（「上市規則」）第14.36B(1)條 及第14.36B(2)條作出，以根據注資協議知會本公司股東及潛在投資者有關保證利潤的最 ...

Financial Performance - As of December 31, 2022, the Group reported total revenue of RMB4.914 billion, a year-on-year decrease of 24.4%[7] - The operating profit for the same period was approximately RMB436 million, reflecting a year-on-year decrease of 24.8%[7] - Total profit amounted to RMB47 million, representing a significant year-on-year decrease of 83.8%[7] - The financial summary indicates a trend of declining profits over the past five years, with a notable loss of RMB995.228 million in 2020[4] - The Group's revenue decreased by RMB1,589.1 million or 24.4%, from RMB6,503.4 million in 2021 to RMB4,914.3 million in 2022[130] - Gross profit decreased by RMB111.3 million or 10.4%, from RMB1,075.0 million in 2021 to RMB963.7 million in 2022[130] - Revenue from curtain wall and green building EPC dropped by 33.7%, while gross profit margin increased from 8.5% to 9.7%[158] - Revenue from Solar EPC business increased by 4.4%, but gross profit margin dropped from 2.3% to 0.9% due to high material costs[158] - Wind Power EPC revenue amounted to RMB 1,911.5 million, representing a decrease of 38.1%, with a gross profit margin of 22.8%[158] - Sale of products increased by 29.4% from RMB 610.2 million in 2021 to RMB 789.2 million in 2022[152] - The Directors did not recommend a final dividend for the year ended December 31, 2022, compared to HK$0.020 per share in 2021[188] Corporate Governance - The company has adopted corporate governance practices in compliance with the applicable code provisions, ensuring effective accountability[10] - All directors committed sufficient time and attention to the company's affairs, ensuring high levels of corporate governance[20] - The company has implemented a board diversity policy since 2013 to enhance governance practices[24] - Continuous professional development activities were attended by all directors to update their knowledge and skills[20] - The Company has arranged appropriate liability insurance for its Directors and officers, with no claims made during 2022[33] - Independent non-executive Directors provide significant independent advice on the Company's strategy and performance[32] - The Company maintains a list of Directors, identifying independent non-executive Directors and their roles[32] - The Company has adopted a board diversity policy to ensure a balanced skill set and diverse perspectives among Directors[53] - The Company ensures that all Directors are subject to retirement by rotation at least once every three years[38] - The Audit Committee reviewed the Group's consolidated financial statements for the six months ended June 30, 2022, and the year ended December 31, 2022[55] - The Audit Committee consists of three independent non-executive directors, with Simon Yick Wing Fat as the Chairman, and has held 2 meetings during the year[56] - The Company Secretary confirmed completion of no less than 15 hours of relevant professional training during the year[70] - The Remuneration Committee, consisting of five members, is responsible for recommending remuneration policies for Directors and senior management[60] - The Nomination Committee held one meeting during the year to review the appointment and promotion policies for senior management[66] - The Company has adopted a board diversity policy to ensure a balanced selection of candidates based on measurable objectives[64] - The Company Secretary is responsible for ensuring compliance with applicable laws and corporate governance matters[69] - The Company engaged independent scrutineers to ensure proper counting of votes at general meetings, with results posted on the Company and HKEX websites in a timely manner[114] - The Nomination Committee held 1 meeting during the year ended December 31, 2022, to review senior management appointment policies[93] - The Company Secretary confirmed participation in at least 15 hours of relevant professional training during the year[99] - The Board is responsible for the Group's internal control and risk management systems, conducting periodic reviews at least annually[104] - The Group appointed external independent professional advisors to review the effectiveness of its internal control system for the year ended December 31, 2022[107] - The Company continues to adopt a transparent and timely disclosure policy to keep shareholders informed of business performance and strategies[111] - The Company welcomes shareholder views and suggestions to improve transparency[119] Business Strategy and Operations - The company focuses on three main business areas to strengthen industry development[8] - The Company is focused on renewable energy solutions, including Building Integrated Photovoltaic (BIPV) systems, which integrate photovoltaic technology into building designs[122] - The Group diversified its business into Wind Power EPC in 2020, aiming to grow into a renewable energy-focused enterprise[122] - The Company provides engineering design services and engages in the sale of curtain wall materials, leveraging its extensive experience in the curtain wall business[122] - The company plans to shift focus from Solar EPC to Wind Power EPC due to profitability concerns[158] - The company engaged in several large-scale projects in North East China during 2022[158] - The overall revenue breakdown indicates a significant reliance on construction contracts, which accounted for a total of RMB 3,387.3 million in 2022[152] Financial Management - The Group's outstanding bank and other loans as of December 31, 2022, were approximately RMB 6,783 million, with effective interest rates ranging from 5.33% to 6.42%[180] - The Group had an outstanding balance of approximately RMB 952 million due to Shuifa BVI, bearing interest at 6% per annum, repayable by December 31, 2023[180] - Capital expenditures for the year amounted to RMB 1,259.1 million, primarily for wind power and solar photovoltaic power stations, as well as acquisitions of subsidiaries[180] - The Group's capital commitments included RMB 995,074 for equity investment and RMB 171,512 for the construction of solar photovoltaic power stations[188] - The gross profit margin for wind EPC was 22.8%, while the gross profit margin for solar EPC was 0.9%[180] - As of December 31, 2022, the Group had approximately 1,500 employees, with employee salary and other benefit expenses amounting to RMB 255 million, similar to the previous year[189] - The Group's remuneration policies are based on individual employee performance and are reviewed annually[189]