China Shuifa Singyes Energy Holdings Limited 中國水發興業能源集團有限公司 (incorporated in Bermuda with limited liability) （ 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ） (Stock Code: 750) （股份代號：750） NOTIFICATION LETTER 通知信函 9 December 2024 各位非登記持有人 （附註1） ： 中國水發興業能源集團有限公司（「本公司」） — 刊發日期為2024年12月9日之通函（「本次公司通訊」） 本公司的本次公司通訊之中、英文版本已分別上載於本公司網站（www.sfsyenergy.com)及香港聯合交易所有限公司（「聯交所」）之網站（www.hkexnews.hk)（「網站 版本」）。本公司建議 閣下閱覽本公司本次公司通訊的網站版本。 Dear Non-registered Shareholder(s) (Note 1), China Shuifa Singyes Energy Holdings Limited (the "Company") – No ...

9 December 2024 China Shuifa Singyes Energy Holdings Limited 中國水發興業能源集團有限公司 (incorporated in Bermuda with limited liability) （ 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ） (Stock Code: 750) （股份代號：750） NOTIFICATION LETTER 通知信函 Dear Registered Shareholders, China Shuifa Singyes Energy Holding Limited (the "Company") – Notice of publication of Circular dated 9 December 2024 and Proxy Form (the "Current Corporate Communication") on website The English and Chinese versions of the Company's Current Corporate Communications are no ...

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通告之內容概不負責，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通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 - 1 - 特別股東大會通告 茲通告中國水發興業能源集團有限公司（「本公司」）謹訂於2024年12月30日（星期一）上午 11時30分假座香港灣仔皇后大道東248號大新金融中心35樓舉行特別股東大會（「特別股東 大會」），藉以考慮及酌情通過本公司下列決議案（不論有否修訂）為普通決議案： 除文義另有所指外，本通告所用詞彙與本公司日期為2024年12月9日之通函（「通函 」）所界 定者具有相同涵義。 普通決議案 「動議： (b) 謹此授權任何一名董事為及代表本公司於彼認為為使EPC總承包服務框架協議或其 項下擬進行的任何交易生效或就此而言可能屬必要、適宜或權宜時簽立一切文件及 辦理一切有關事宜及採取一切其他有關步驟。」 承董事會命 750 (a) 謹此批准、確認及追認本公司與水發集團公司訂立之日期為2024年11月5日之 ...

此乃要件 請即處理 董事會函件載於本通函第4頁至第13頁。獨立董事委員會函件載於本通函第14頁至第15頁，當 中載有其致獨立股東之推薦建議。獨立財務顧問富域資本有限公司函件載於本通函第16頁至第 29頁，當中載有其致獨立董事委員會及獨立股東之意見。 閣下如對本通函任何方面或應採取的行動有任何疑問，應諮詢 閣下的股票經紀或其他持牌證 券交易商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已將名下的中國水發興業能源集團有限公司（「本公司」）股份全部出售或轉讓，應立即將 本通函及隨附的代表委任表格送交買主或承讓人或經手買賣或轉讓的銀行、股票經紀或其他代 理商，以便轉交買主或承讓人。 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通函的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就因本通函全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 China Shuifa Singyes Energy Holdings Limited 750 持續關連交易 訂立EPC總承包服務框架協議 及 特別股東大會通告 獨立董事委員會及獨立股東的獨立財務顧問 本公司謹訂於2024 ...

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內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而 產生或因依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 茲提述中國水發興業能源集團有限公司（「本公司」）日期為2024年11月5日之公告，內容有 關EPC總承包服務框架協議（「該公告」）。除另有界定者外，本公告所用詞彙與該公告所界 定者具有相同涵義。 誠如該公告所披露，一份載有（其中包括）(i)EPC總承包服務框架協議項下擬進行交易的進 一步詳情；(ii)獨立董事委員會就EPC總承包服務框架協議的推薦建議；(iii)獨立財務顧問 就EPC總承包服務框架協議的意見；及(iv)召開股東特別大會的通知之通函（「通函」）預期 將於2024年12月6日或之前寄發予本公司股東。 由於本公司需要額外時間落實通函及獨立財務顧問需要額外時間落實致獨立董事委員會 及獨立股東的意見函件，以供載入通函，故預期通函的寄發日期將延遲至2024年12月12 日或之前。 750 延遲寄發通函 承董事會命 ...

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內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而 產生或因依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 持續關連交易 訂立EPC總承包服務框架協議 獨立董事委員會及獨立股東之獨立財務顧問 EPC總承包服務框架協議 於2024年11月5日，本公司與水發集團公司簽訂EPC總承包服務框架協議，據此，自 2024年11月5日起至2026年12月31日止期間，本集團將向水發集團承包若干EPC及相關 服務。 上市規則之涵義 於本公告日期，水發集團公司為持有本公司約74.09%已發行股份的控股股東。因此， 水發集團公司為本公司的關連人士，EPC總承包服務框架協議項下之交易構成本公司 之持續關連交易。由於按年度計算，EPC總承包服務框架協議項下擬進行的交易中之 一項或多項的適用百分比率（除盈利比率外）超過5%，故根據上市規則第14A章，EPC 總承包服務框架協議須遵守有關申報、公告、年度審核及獨立股東批准的規定。 - 1 - 750 ...

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]