Financial Performance - For the six months ended December 31, 2023, the company reported a revenue of RMB 38,752,000, compared to RMB 34,890,000 for the same period in 2022, representing an increase of approximately 5.4%[20] - The gross profit for the period was RMB 3,862,000, up from RMB 1,126,000 in the previous year, indicating a significant improvement in profitability[20] - Operating loss for the period was RMB 12,750,000, compared to a loss of RMB 10,854,000 in the prior year, reflecting a deterioration in operational efficiency[20] - The company reported a pre-tax loss of RMB 21,278,000, which is an increase from RMB 16,079,000 in the same period last year, highlighting ongoing financial challenges[20] - Total comprehensive income attributable to owners of the company was RMB 3,092,000, a recovery from a loss of RMB 17,909,000 in the previous year[20] - The basic and diluted loss per share for the period was RMB (0.77), compared to RMB (0.83) in the previous year, showing a slight improvement in loss per share[20] - The group recorded a net loss of approximately RMB 21,278,000 for the reporting period, compared to a net loss of RMB 16,079,000 in the previous year[67] - The group recorded a pre-tax loss of RMB 21,278,000 for the six months ending December 31, 2023, compared to a pre-tax loss of RMB 16,079,000 in the same period of the previous year[126][127] Revenue and Sales - Revenue for the period reached RMB 38,752,000, an increase of 165% compared to the previous year[30] - Sales of frozen concentrated orange juice and related products increased from approximately RMB 1,852,000 to about RMB 30,425,000 during the reporting period[44] - For the six months ending December 31, 2023, the group reported total revenue of RMB 38,752,000, with revenue from the manufacturing and sale of frozen concentrated orange juice at RMB 30,425,000 and fresh orange juice at RMB 8,327,000[126] - For the six months ending December 31, 2023, the company reported a revenue of approximately RMB 8,327,000, a decrease of 34.7% from RMB 12,756,000 in the same period last year[168] Assets and Liabilities - The company’s cash and cash equivalents increased to RMB 12,186,000 from RMB 5,030,000, indicating improved liquidity[22] - Current liabilities decreased to RMB 309,207,000 from RMB 372,317,000, suggesting better management of short-term obligations[22] - The company’s total assets less current liabilities showed a decrease to RMB (155,285,000) from RMB (250,710,000), indicating a worsening financial position[22] - The group’s current assets as of December 31, 2023, were approximately RMB 58,614,000, up from RMB 24,121,000 as of June 30, 2023[47] - The company's total liabilities as of December 31, 2023, were RMB 205,359,000, compared to RMB 206,588,000 as of June 30, 2023[159] Cash Flow - As of December 31, 2023, the company reported a net cash outflow from operating activities of RMB 16,035 thousand, compared to a net inflow of RMB 11,785 thousand in the previous period[99] - The net cash used in investing activities was RMB 50,072 thousand, significantly higher than RMB 3,642 thousand in the prior period[99] - The net cash inflow from financing activities was RMB 73,258 thousand, contrasting with a net outflow of RMB 4,779 thousand in the previous period[99] - The company recorded a total cash and cash equivalents increase of RMB 7,151 thousand, compared to an increase of RMB 3,364 thousand in the prior period[99] - The total cash and cash equivalents at the end of the period amounted to RMB 12,186 thousand, up from RMB 8,750 thousand at the end of the previous period[99] Operational Efficiency - Distribution costs decreased from approximately RMB 2,009,000 in the same period last year to about RMB 746,000, a reduction of approximately 62.9%[46] - The group’s financing costs increased to RMB 8,528,000 for the six months ending December 31, 2023, compared to RMB 5,225,000 in the previous year[130] Future Plans and Challenges - The company plans to utilize the net proceeds of approximately HKD 74,710,000 from a share subscription for debt repayment and general working capital[34] - The company is focusing on developing new products to support revenue growth, leveraging its strengths in the beverage industry[43] - The overall business environment remains challenging due to uncertain global economic prospects[43] Shareholder Information - The company has adopted a share award plan but did not grant any shares during the reporting period[35] - The group did not declare any interim dividends for the six months ended December 31, 2023[68] - The company did not recommend the payment of an interim dividend for the six months ending December 31, 2023, consistent with the previous year[117] - The company has consolidated its share capital, with every ten shares merged into one share effective from February 26, 2024[89] Compliance and Standards - The company has adopted new and revised International Financial Reporting Standards effective from July 1, 2023, but this did not result in significant changes to accounting policies or reported amounts[84] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period[98]

Financial Performance - The company reported revenue of approximately RMB 38,752,000 for the six months ended December 31, 2023, representing a 165% increase compared to RMB 14,608,000 in the same period last year[13]. - Gross profit for the period was approximately RMB 3,862,000, up 243% from RMB 1,126,000, with a gross margin of 10.0% compared to 7.7% in the previous year[16]. - The company experienced a net loss of RMB 21,278,000, compared to a net loss of RMB 16,079,000 in the previous year, reflecting a 32% increase in losses[18]. - The company incurred a pre-tax loss of RMB 21,278,000 for the six months ended December 31, 2023, compared to a loss of RMB 10,780,000 in the previous period, indicating a worsening of 97.5%[50]. - The group reported a pre-tax loss of RMB 16,079,000, with segment performance showing a loss of RMB 7,615,000[52]. Revenue Breakdown - The sales of frozen concentrated orange juice surged to approximately RMB 30,425,000 from RMB 1,852,000, driven by a strategic focus on this core business[15]. - The company reported a total revenue of RMB 38,752,000 for the six months ended December 31, 2023, compared to RMB 30,425,000 for the same period last year, reflecting a year-over-year increase of 27.5%[50]. - Total revenue for the group was RMB 14,608,000, with a segment revenue breakdown of RMB 11,855,000 from frozen concentrated orange juice and RMB 12,756,000 from fresh squeezed orange juice[52]. Assets and Liabilities - Trade receivables increased significantly to RMB 24,067,000 from RMB 1,018,000, marking a 2,264% increase[21]. - Cash and cash equivalents rose to RMB 12,186,000, a 142% increase from RMB 5,030,000[21]. - Inventory levels increased to RMB 18,076,000 from RMB 6,619,000, reflecting a 173% rise[21]. - As of December 31, 2023, current assets amounted to RMB 58,614,000, a significant increase from RMB 24,121,000 as of June 30, 2023, representing a 143.5% growth[37]. - The total liabilities as of December 31, 2023, were RMB 309,207,000, down from RMB 372,317,000 as of June 30, 2023, indicating a reduction of 16.9%[37]. - Non-current liabilities include borrowings of RMB 18,936,000 and lease liabilities of RMB 21,587,000[62]. - The group’s total liabilities net of equity amounted to RMB (196,346,000) at the end of the reporting period[62]. Expenses - Distribution costs decreased by approximately 62.9% from RMB 2,009,000 to RMB 746,000[6]. - Administrative expenses increased to RMB 16,704,000 from RMB 12,059,000, indicating a rise of approximately 38.5%[6]. Shareholder Information - The company did not declare any interim dividend for the six months ended December 31, 2023[19]. - The company does not recommend the payment of an interim dividend for the six months ending December 31, 2023[55]. - The weighted average number of ordinary shares for calculating basic and diluted loss per share was 2,752,242,978[72]. - The company issued 1,123,500,000 new ordinary shares at a price of HKD 0.067 per share, raising approximately HKD 74,710,000 for debt repayment and general working capital[79]. - The net proceeds from the share subscription amounted to approximately HKD 74,710,000 after deducting related expenses[91]. - The net amount of unutilized proceeds from the share issuance is expected to be used by December 31, 2024[80]. Corporate Governance - The board confirmed compliance with the corporate governance code throughout the reporting period[82]. - The audit committee reviewed the accounting principles and practices adopted by the group during the reporting period[84]. - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management[94]. Employee Information - The company has 121 employees as of December 31, 2023, a slight increase from 120 employees in the previous year[42]. Risk Management - The company has established a foreign exchange risk management policy to mitigate risks associated with currency fluctuations, particularly involving the US dollar[38]. Capital Expenditures - The company has not made any capital expenditures during the reporting period, consistent with the previous year[41]. Share Consolidation - The company has implemented a share consolidation plan, merging every ten shares into one, effective February 26, 2024[42].

Employee Compensation and Management - For the fiscal year ending June 30, 2023, the total employee compensation for the top five highest-paid employees was RMB 1,907,000, a decrease of 6.7% from RMB 2,044,000 in the previous year[16] - The company has a competitive compensation policy to attract and retain talent, reflecting market conditions and individual qualifications[127] - The board of directors and senior management have established service contracts with a fixed term of three years, subject to re-election and other relevant regulations[125] - The company has not paid any compensation to directors for joining or leaving the group during the fiscal year ending June 30, 2023[13] Financial Performance - Total revenue for the year 2023 was RMB 21,366,000, a decrease of 29.2% compared to RMB 30,172,000 in 2022[81] - Gross profit for 2023 was RMB 6,608,000, down 7.9% from RMB 7,178,000 in the previous year[81] - The company reported a net loss of RMB 26,998,000 for 2023, which is a 32.2% improvement from a loss of RMB 39,816,000 in 2022[81] - EBITDA for the year increased significantly to RMB 19,373,000, a 339.5% increase from RMB 4,408,000 in 2022[81] - The revenue from frozen concentrated orange juice decreased to RMB 11,735,000 in 2023 from RMB 14,212,000 in 2022, representing a decline of approximately 17.4%[46] - The revenue from freshly squeezed orange juice also saw a significant drop, falling to RMB 4,233,000 in 2023 from RMB 7,653,000 in 2022, a decrease of about 44.5%[46] Assets and Liabilities - The depreciation expense for the fiscal year ending June 30, 2023, was RMB 885,000, an increase of 28.5% compared to RMB 689,000 for the previous year[28] - The total cash outflow for leases was RMB 399,000, which is a significant increase of 103.6% from RMB 196,000 in the previous year[28] - The total lease liabilities as of June 30, 2023, amounted to RMB 1,334,000, an increase of 21.9% from RMB 1,095,000 in the previous year[34] - As of June 30, 2023, the carrying amount of right-of-use assets was approximately RMB 11,975,000, up from RMB 6,762,000 in the previous year, indicating a growth of 77.5%[28] - Trade payables decreased to RMB 73,475,000 in 2023 from RMB 100,847,000 in 2022, indicating a reduction of approximately 27.2%[58] - Trade receivables decreased by 76.6% to RMB 1,018,000 from RMB 4,351,000 in the previous year[81] - Inventory increased by 10.1% to RMB 6,619,000 compared to RMB 6,013,000 in 2022[81] Impairment and Losses - The company did not recognize any impairment losses for the fiscal year ending June 30, 2023, compared to an impairment reversal of RMB 1,500,000 in the previous year[24] - The company has not confirmed any impairment losses for right-of-use assets as the recoverable amount exceeded the carrying amount for both fiscal years[40] - For the fiscal year ending June 30, 2023, the group did not recognize any impairment losses on its properties, plants, and equipment, while an impairment loss of RMB 1,500,000 was reversed for the fiscal year ending June 30, 2022[45] Corporate Governance - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[154] - The company is committed to maintaining high standards of corporate governance to protect shareholders' interests[158] - The board composition includes a balance of executive and independent non-executive directors, maintaining high levels of independence[168] - The company has confirmed that all independent non-executive directors meet the independence criteria as per listing rules[168] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the standards set out in the listing rules[148] Future Plans and Challenges - The company plans to develop new products, including bottled Chinese tea drinks and zero-sugar sodas, to support revenue growth[84] - The company faces significant challenges in the upcoming year due to an uncertain global economic outlook[87] - The company is exploring new locations in Hong Kong for establishing new production facilities[84] Committees and Meetings - The Audit Committee held three meetings during the reporting period, with attendance recorded as follows: Mr. Ma Youheng (Chairman) attended 2 out of 2 meetings, Ms. Zhong Yingyi attended 2 out of 3 meetings, and Mr. Zhong Shui Rong attended 2 out of 2 meetings[200] - The Audit Committee discussed and reviewed the group's interim and final performance, as well as the effectiveness of internal controls during the reporting period[199] - The Remuneration Committee has reviewed the group's remuneration policy and assessed the performance and remuneration of directors and senior management during the reporting period[186] - The Nomination Committee has evaluated the existing structure, composition, and diversity of the board, ensuring it meets governance standards and the group's requirements[190]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部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。 森美（集團）控股有限公司 Summi (Group) Holdings Limited （於開曼群島註冊成立的有限公司） （股份代號： 00756） 截至二零二三年六月三十日止年度 年度業績公告 財務概要 二零二三年 二零二二年 %變動 人民幣千元 人民幣千元 （概約） 綜合損益及其他全面收益表 收入 21,366 30,172 (29.2%) 毛利 6,608 7,178 (7.9%) 年內虧損 (26,998) (39,816) (32.2%) 扣除利息、稅項、折舊及攤銷前 盈利(EBITDA（) 附註） 19,373 4,408 339.5% ...

Financial Performance - The total comprehensive income for the six months ended December 31, 2022, was RMB 19,341,000, with a net cash increase of RMB 3,364,000[6]. - The group reported a pre-tax loss of RMB (32,731,000) for the six months ended December 31, 2022[14]. - The company recorded a revenue of approximately RMB 14,608,000, a decrease of about 25.6% compared to RMB 19,635,000 in the previous year[73]. - Gross profit for the period was approximately RMB 1,126,000, down about 46.3% from RMB 2,096,000 in the previous year, resulting in a gross margin of approximately 7.7% compared to 10.7% last year[76]. - The company reported a net loss of approximately RMB 16,079,000, compared to a net loss of RMB 32,731,000 in the previous year[78]. - The net loss for the period was RMB 16,079,000, representing a 50.9% decrease from RMB 32,731,000 in the prior period, with basic and diluted loss per share at RMB (0.83) compared to RMB (1.4)[88]. - The operating loss for the six months was RMB 10,854,000, significantly improved from a loss of RMB 20,145,000 in the prior year, showing a reduction of approximately 46.0%[156]. - The company’s total liabilities amounted to RMB 387,529,000, an increase from RMB 343,454,000 in the previous year, representing a rise of approximately 12.8%[159]. - The company’s total assets decreased to RMB 102,419,000 from RMB 111,395,000, reflecting a decline of about 8.0%[159]. Cash Flow and Liquidity - Operating cash flow for the period was RMB 11,785,000, while cash used in investing activities was RMB (3,642,000)[6]. - Cash and cash equivalents increased by 61.4% to RMB 8,750,000 from RMB 5,420,000[72]. - The total cash and cash equivalents at the end of the period were RMB 8,750,000, compared to RMB 7,235,000 at the end of the previous year[6]. - The group aims to maintain sufficient liquidity to meet upcoming liabilities and avoid unacceptable losses[116]. Inventory and Receivables - Inventory surged by 265.4% to RMB 21,970,000 from RMB 6,013,000[72]. - Trade receivables rose by 76.4% to RMB 7,675,000 from RMB 4,351,000[72]. - Trade receivables were approximately RMB 7,675,000, up from RMB 4,351,000, and inventory increased to RMB 21,970,000 from RMB 6,013,000[95]. Expenses and Cost Management - Distribution costs decreased by approximately 56.5%, from RMB 4,618,000 to RMB 2,009,000[77]. - Administrative expenses decreased from approximately RMB 19,763,000 to about RMB 12,059,000 during the reporting period[92]. - The group incurred interest expenses of RMB 5,225,000, a decrease from RMB 12,586,000 in the previous year[184]. - The company’s bank loan interest decreased significantly to RMB 3,803,000 from RMB 11,247,000 year-on-year[184]. Government Grants and Taxation - Government grants received amounted to RMB 2,074,000, an increase from RMB 1,872,000 in the previous year[23]. - The group’s Malaysian operations were subject to a tax rate of 24% on estimated taxable profits[27]. Dividends and Shareholder Returns - The group did not declare an interim dividend for the six months ended December 31, 2022, consistent with the previous year[28]. - The company decided not to declare any interim dividend for the six months ended December 31, 2022[79]. Operational Developments - The company is developing new products such as bottled Chinese tea and sugar-free soda water, although development has been impacted by COVID-19[90]. - The group has not disclosed any new product developments or market expansion strategies in the current report[172]. Corporate Governance and Compliance - The group has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management[113]. - The board has ensured compliance with listing rules regarding the appointment of independent non-executive directors following recent resignations[112]. - The group has taken immediate action to comply with listing rules after recent changes in board composition[134]. - The audit committee has reviewed the accounting principles and practices adopted by the group during the reporting period[137]. Foreign Exchange and Risk Management - The group has implemented a foreign exchange risk management policy to mitigate risks associated with currency fluctuations, particularly involving USD[117]. - The company recorded a foreign exchange loss of RMB 1,830,000 during the period, compared to a gain of RMB 3,022,000 in the previous year[156].

Financial Performance - The company reported revenue of approximately RMB 30,172,000 for the year ended June 30, 2022, a decrease of 72.9% compared to RMB 111,168,000 in 2021[10]. - Gross profit for the same period was RMB 7,178,000, an increase of 69.7% from RMB 4,231,000 in the previous year, resulting in a gross margin of 23.8%[10][12]. - The company experienced a net loss of RMB 39,816,000, which is a 17.9% improvement from a loss of RMB 48,518,000 in 2021[10]. - EBITDA for the year was RMB 4,408,000, representing a significant increase of 147.5% from RMB 1,781,000 in the prior year[10]. - The sales revenue of Semir products decreased by 80% from approximately RMB 104,977,000 to RMB 20,969,000 due to a reduction in export business[34]. - The sales revenue of frozen concentrated orange juice and related products increased from approximately RMB 6,191,000 to RMB 9,203,000, with stable international futures prices[35]. - The net loss for the period was approximately RMB 39,816,000, compared to a net loss of RMB 48,518,000 in the same period last year[40]. - The company has developed a series of new products to support revenue growth in the catering industry[34]. - The company reported a significant increase in other income, totaling RMB 25,297,000, compared to RMB 3,794,000 in the previous year, marking an increase of approximately 566.5%[194]. - The basic and diluted loss per share improved to RMB (1.74) from RMB (2.83), indicating a reduction in loss per share of approximately 38.5%[194]. Liquidity and Financial Position - Cash and cash equivalents increased by 43.8% to RMB 5,420,000 from RMB 3,770,000 in 2021[10]. - As of June 30, 2022, the net current liabilities amounted to approximately RMB 310,936,000, an increase from RMB 263,134,000 in 2021[41]. - The group's cash and cash equivalents were approximately RMB 5,420,000 as of June 30, 2022, compared to RMB 3,770,000 in 2021[42]. - Total bank and other borrowings were approximately RMB 183,264,000, down from RMB 259,458,000 in 2021[42]. - The current ratio was 0.09 in 2022, a decrease from 0.11 in 2021[45]. - The company has entered into a loan restructuring agreement with several banks, extending the principal amount of approximately RMB 116,000,000 for a period of 5 years, with banks agreeing not to initiate legal actions for any breaches of the original agreement[158]. - The company is actively implementing measures to improve its financial condition, including controlling operational and administrative costs, optimizing production and human resources, and expanding overseas markets[160]. - The group reported a loss of RMB 39,816,000 for the year ending June 30, 2022, with net current liabilities amounting to RMB 310,936,000[184]. - The company's total assets decreased to RMB 32,518,000 from RMB 31,567,000, indicating a slight increase of approximately 3%[196]. - The company's financing costs decreased to RMB 26,599,000 from RMB 30,491,000, reflecting a reduction of about 12.3%[194]. Business Strategy and Operations - The company is focusing on expanding its business in Southeast Asia despite challenges from currency appreciation and intense competition[12][17]. - Management is exploring new locations for setting up additional facilities to diversify its business and enhance profitability[13]. - The overall strategy includes a commitment to enhancing core competitiveness to become a leading manufacturer in the Chinese juice beverage industry[15]. - The group has implemented sustainable agricultural guidelines to protect soil, conserve water, and minimize greenhouse gas emissions in its self-operated orange orchards[63]. - The group is committed to complying with environmental protection laws and regulations in China, which may lead to significant capital expenditures[67]. - The company has established a competitive compensation policy to attract and retain talent, ensuring smooth business operations[82]. Corporate Governance - The company has adopted a code of conduct for directors' securities transactions, which complies with the standards set out in the listing rules[104]. - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[114]. - The board of directors maintains a high level of independence, with over one-third of its members being independent non-executive directors[123]. - The company has implemented a code of conduct for directors regarding securities trading, ensuring compliance with standard regulations[119]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests[117]. - The company has adopted the Corporate Governance Code principles and all relevant provisions as per the listing rules[118]. - The company appointed Ms. Zhong Yingyi on July 11, 2022, and Mr. Yan Kangzhuo and Mr. Zheng Jingye on July 20, 2022, to comply with listing rules after the resignation of three independent non-executive directors[125]. - The board held two meetings during the reporting period, with all executive directors attending both meetings and the independent non-executive directors attending at least one meeting each[130]. - The company has purchased directors and officers liability insurance to comply with corporate governance code provisions[135]. - The company emphasizes the importance of continuous professional development for all directors, ensuring they are updated on relevant laws and governance policies[135]. Risk Management - The group faces foreign exchange risks primarily related to currencies pegged to the US dollar, with most revenues denominated in RMB[46]. - The board has established a foreign exchange risk management policy to mitigate related risks using forward contracts and various derivatives[46]. - The Audit Committee noted significant uncertainties that could affect the group's ability to continue as a going concern[151]. - The independent auditor has expressed no opinion on the financial statements due to significant uncertainties affecting the group's ability to continue as a going concern[183]. - The company has appointed an independent consultant to review significant monitoring aspects, including financial and operational controls, to reduce overall business and operational risks[169]. - The board confirmed that the risk management and internal control systems are effective and comply with corporate governance code requirements[169]. Shareholder Information - The company has established multiple channels to communicate with shareholders, including its website where annual reports and announcements are published[177]. - The company encourages shareholders to provide feedback to enhance transparency and corporate governance practices[180]. - The company has adopted a dividend policy that considers its financial performance, cash flow, and overall business conditions before declaring dividends[179]. - There were no interim dividends declared for the reporting period, consistent with the previous year[69]. - The board does not recommend the declaration of a final dividend for the reporting period, similar to the previous year[70].

Financial Performance - Total sales decreased from approximately RMB 58,798,000 to RMB 19,635,000, a decline of about 66.6% due to COVID-19 disruptions in Hong Kong and Malaysia [13]. - Gross profit fell to approximately RMB 2,096,000, down about 82.5% from RMB 11,992,000, resulting in a gross margin of 10.7%, compared to 20.4% in the previous year [21]. - EBITDA improved to a loss of RMB 6,664,000, compared to a loss of RMB 4,713,000 in the same period last year, indicating a 41.4% increase in operational efficiency [13]. - Sales revenue from the company's products decreased by 68.8% to approximately RMB 16,709,000 from RMB 53,505,000 due to the pandemic [19]. - The operating loss for the six months ended December 31, 2021, was RMB 20,145,000, compared to an operating loss of RMB 17,695,000 for the same period in 2020, indicating a deterioration in operational performance [67]. - The net loss for the period was approximately RMB 32,731,000, compared to a net loss of RMB 21,966,000 in the previous year, reflecting a year-over-year increase in losses of approximately 48.9% [67]. - The total comprehensive loss attributable to owners of the company for the period was RMB 29,709,000, compared to a comprehensive income of RMB 23,607,000 in the previous year, indicating a significant shift in financial performance [73]. Cash and Liquidity - Cash and cash equivalents increased by 91.9% to RMB 7,235,000 from RMB 3,770,000 [10]. - Current assets as of December 31, 2021, were approximately RMB 79,533,000, up from RMB 31,567,000 as of June 30, 2021 [26]. - Cash and cash equivalents increased to approximately RMB 7,235,000 from RMB 3,770,000 as of June 30, 2021 [27]. - The net cash used in operating activities for the six months ended December 31, 2021, was RMB (6,664,000), compared to RMB (13,209,000) for the same period in 2020, indicating an improvement of approximately 49.6% [78]. - The cash and cash equivalents at the end of the period were RMB 7,235,000, down from RMB 22,708,000 at the end of the same period in 2020, a decrease of approximately 68.2% [78]. Assets and Liabilities - Total assets as of December 31, 2021, were RMB 128,736,000, down from RMB 145,717,000 as of June 30, 2021, indicating a decrease of approximately 11.7% [68]. - Current liabilities decreased to approximately RMB 162,399,000 from RMB 294,701,000 as of June 30, 2021 [26]. - The company’s total liabilities as of December 31, 2021, were RMB 312,164,000, compared to RMB 119,326,000 as of June 30, 2021, reflecting a substantial increase in leverage [70]. - Total liabilities amounted to RMB 414,027,000 as of December 31, 2021 [90]. - The company’s non-current liabilities included RMB 250,257,000 as of December 31, 2021, compared to RMB 57,291,000 as of June 30, 2021 [120]. Inventory and Receivables - Inventory surged by 291.6% to RMB 22,160,000 from RMB 5,659,000, reflecting increased stock levels [10]. - Trade and other receivables rose by 126.5% to RMB 50,138,000 from RMB 22,138,000, indicating improved credit management [10]. - Trade receivables as of December 31, 2021, included RMB 6,405,000 that were neither overdue nor impaired, compared to RMB 2,587,000 as of June 30, 2021, reflecting an increase of approximately 147% [114]. Operational Developments - The company established a subsidiary in Chenzhou, Hunan, and a joint venture in Shenyang, Liaoning, to diversify operations and explore new markets [14]. - The company plans to invest more resources to enhance the brand and improve profitability in China, Hong Kong, and Southeast Asia [13]. - The company has three high-efficiency frozen concentrated orange juice production plants and one non-concentrated orange juice plant strategically located in major citrus-producing areas in China [35]. - The company employs an integrated operating model, enhancing the value chain as one of the few Chinese concentrated orange juice producers operating upstream with self-managed orange orchards [36]. Governance and Compliance - The audit committee reviews financial information and oversees financial reporting procedures [60]. - The investment and compliance committee evaluates long-term investment projects and recommends to the board [61]. - The company confirms compliance with the corporate governance code during the reporting period [62]. Shareholder Information - Rui Er Holdings Company holds 1,309,881,110 shares, representing 57.40% ownership [47]. - Yang's spouse holds the same 1,309,881,110 shares, also reflecting 57.40% ownership due to marital rights [49]. - Hu Mingyue holds 120,784,960 shares, accounting for 5.29% ownership [47]. Costs and Expenditures - Distribution costs decreased from approximately RMB 9,142,000 to RMB 4,618,000, a reduction of about 49.5% year-on-year [22]. - Administrative expenses reduced from approximately RMB 25,056,000 to RMB 19,763,000 [22]. - Financing costs increased to approximately RMB 12,586,000 from RMB 4,270,000 in the previous year [23]. - Capital expenditures for the period were approximately RMB 350,000, down from RMB 4,270,000 in the previous year [34]. - The company incurred approximately RMB 350,000,000 in capital expenditures for property, plant, and equipment during the six months ended December 31, 2021, a decrease from RMB 4,270,000 in the same period last year [105]. Share Option Scheme - A share option scheme was adopted to attract and retain qualified personnel, effective for ten years from June 7, 2008 [52]. - The maximum number of shares that can be issued under the share option scheme is capped at 10% of the issued shares as of November 5, 2012 [53]. - The company has established a share option plan to incentivize and reward contributors to the group, with a maximum of 10% of the issued share capital available for awards [126]. - No shares were granted to eligible participants under the share incentive plan during the reporting period, resulting in zero RMB deducted from profit or loss [128].

Financial Performance - The company reported a revenue of approximately RMB 111,168,000 for the year ended June 30, 2021, representing a growth of about 118% compared to RMB 50,993,000 in 2020[6]. - Gross profit for the same period was RMB 4,231,000, a decrease of approximately RMB 3,496,000 from RMB 7,727,000 in 2020, resulting in a gross margin of 3.8% compared to 15.2% in the previous year[8]. - The company recorded a net loss of RMB 48,518,000 for the year, a significant decline from a profit of RMB 315,417,000 in 2020[6]. - The company reported a loss before tax of RMB 48,518 thousand, compared to a profit of RMB 315,417 thousand in the previous year, marking a substantial decrease[183]. - The company reported a loss of RMB 48,518 thousand for the year ended June 30, 2021, compared to a profit of RMB 315,417 thousand in the previous year, indicating a significant decline in profitability[198]. - The total comprehensive income for the year was RMB 286,047 thousand, down from RMB 315,416 thousand in the previous year, reflecting overall reduced earnings[198]. Cash and Liquidity - Cash and cash equivalents decreased by 45% to RMB 3,770,000 from RMB 6,842,000 in 2020[6]. - As of June 30, 2021, the company's cash and cash equivalents were approximately RMB 3,770,000, down from RMB 6,842,000 in the previous year[31]. - The company’s cash and cash equivalents decreased to RMB 3,770 thousand from RMB 6,842 thousand, a decline of 44.9%[188]. - The company recorded a significant decrease in financing costs, which were RMB 30,491 thousand compared to RMB 46,020 thousand in the previous year, indicating improved financial management[198]. - The company is actively negotiating with banks and financial institutions to raise short-term or long-term financing as part of its additional financing plan[145]. Debt and Liabilities - The net debt of the company improved to RMB 236,743,000 from RMB 330,907,000 in 2020, reflecting a reduction of 28%[9]. - The company has entered into a loan restructuring agreement with several banks, agreeing to extend the principal amount of approximately RMB 116 million for a period of 5 years[144]. - The group reported a loss of RMB 48,518,000 for the year ended June 30, 2021[173]. - As of June 30, 2021, the group's current liabilities net amount was RMB 263,134,000, and the equity attributable to shareholders was a deficit of RMB 236,585,000[173]. - A total of RMB 113,317,000 of borrowings were overdue or in breach of related agreements, which may lead to immediate repayment demands[174]. Business Operations and Strategy - The company is diversifying its business and has established a subsidiary in Chenzhou, Hunan, and a joint venture in Shenyang, Liaoning, which are expected to become strong profit growth points in the foreseeable future[9]. - The company is exploring different beverage products and has achieved initial success in expanding its product range and sales network[8]. - The management is committed to enhancing the company's core competitiveness to become a leading manufacturer in China's juice beverage industry[11]. - The company has implemented sustainable agricultural guidelines to protect soil, conserve water, and minimize greenhouse gas emissions in its self-operated orange orchards[58]. Corporate Governance - The board of directors consists of two executive directors and three independent non-executive directors, ensuring a balanced composition[118]. - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[112]. - The independent non-executive directors have confirmed their independence according to the guidelines set out in the listing rules[119]. - The company has established a code of conduct for directors regarding securities trading, which complies with the standards set out in the listing rules[116]. - The company emphasizes diversity in its board composition, aligning with corporate governance standards[134]. Employee and Compensation - The total employee compensation for the reporting period was approximately RMB 9,657,000, a decrease from RMB 13,074,000 in the previous year[74]. - The group had 121 employees, an increase from 113 employees in the previous year[40]. - The company continues to focus on providing competitive compensation and benefits to its employees[40]. Environmental Commitment - The company is committed to complying with environmental protection laws and regulations in China, which may lead to significant capital expenditures[62]. - The company aims to improve energy efficiency and reduce resource consumption through environmentally friendly policies in its production facilities and offices[58]. Shareholder Information - The company’s total issued shares as of June 30, 2021, were 2,282,082,652, with a market capitalization of approximately HKD 374,261,554.90[34]. - There were no interim dividends declared during the reporting period, consistent with the previous year[64]. - The company has not recommended a final dividend for the reporting period, similar to the previous year[65].

Financial Performance - Revenue increased by approximately 19% from RMB 49,477,000 to RMB 58,798,000 for the six months ended December 31, 2020[13]. - Gross profit surged by 1,319% to RMB 11,992,000, with a gross margin of 20.40%, up 18.69 percentage points from the previous year[7]. - EBITDA loss reduced by 56% to RMB 4,713,000 compared to a loss of RMB 10,630,000 in the same period last year[13]. - The company's net loss for the reporting period was approximately RMB 21,966,000, a significant decline from a profit of approximately RMB 329,037,000 in the same period last year, primarily due to a one-time gain from loan repayment agreements last year[30]. - The operating loss for the six months ended December 31, 2020, was RMB 17,695,000, a decline from an operating profit of RMB 335,970,000 in the prior year[73]. - Total comprehensive income attributable to owners for the period was RMB 23,607,000, down from RMB 348,139,000 in the previous year[74]. - The company reported a total comprehensive loss of RMB 21,966,000 for the six months ended December 31, 2020[78]. - The group reported a loss before tax of RMB 21,965,000 for the six months ended December 31, 2020, compared to a profit before tax of RMB 329,041,000 for the same period in 2019[89][91]. Liquidity and Financial Health - Cash and bank balances increased by 355% to RMB 31,126,000, significantly improving liquidity[9]. - Net current liabilities improved to approximately RMB 101,929,000 from RMB 294,934,000, reflecting a substantial enhancement in financial health[14]. - Cash and cash equivalents increased to RMB 22,708,000 as of December 31, 2020, compared to RMB 6,842,000 as of June 30, 2020[75]. - Total assets less current liabilities amounted to RMB 48,382,000 as of December 31, 2020, compared to RMB (135,660,000) as of June 30, 2020[75]. - The total liabilities increased from RMB 521,253,000 as of June 30, 2020, to RMB 472,521,000 as of December 31, 2020, indicating a reduction in financial obligations[96]. - The company successfully restructured bank loans totaling approximately RMB 99,444,000, extending the loan term to five years[14]. - The total borrowings of the company as of December 31, 2020, were approximately RMB 264,157,000, a decrease from approximately RMB 274,198,000 as of June 30, 2020[33]. Market Expansion and Investments - The company established a subsidiary in Chenzhou, Hunan, and a joint venture in Shenyang, Liaozhong, indicating ongoing market expansion efforts[15]. - The company plans to invest more resources to enhance the brand and profitability in China, Hong Kong, and Southeast Asia[13]. - Capital expenditures during the reporting period were approximately RMB 4,270,000, compared to RMB 3,596,000 for the same period last year[39]. Shareholder Information - Rui Er Holdings Company Limited holds 1,309,881,110 shares, representing 75.13% of the issued share capital[53]. - Ms. Hu Mingyue owns 120,784,960 shares, accounting for 6.93% of the issued share capital[53]. - The company did not declare any interim dividend for the six months ended December 31, 2020[31]. - The company did not recommend the payment of an interim dividend for the six months ended December 31, 2020, compared to no dividend for the same period in 2019[110]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests[62]. - The board consists of two executive directors and three independent non-executive directors, ensuring accountability and transparency[63]. - The company has established various committees, including the Audit Committee and the Remuneration Committee, to oversee financial reporting and governance practices[67][68]. Operational Performance - The sales revenue of the company's products increased by 139% from approximately RMB 22,382,000 to approximately RMB 53,505,000 during the reporting period[24]. - The sales revenue of frozen concentrated orange juice and related products decreased from approximately RMB 27,095,000 to approximately RMB 5,293,000 due to the adverse effects of the COVID-19 pandemic on the global economy[25]. - The segment revenue from frozen concentrated orange juice was RMB 5,293,000, while the revenue from freshly squeezed orange juice was RMB 53,505,000, contributing to the overall segment performance[89]. - The segment performance for frozen concentrated orange juice showed a loss of RMB 4,802,000, while freshly squeezed orange juice reported a loss of RMB 9,236,000, contributing to a total segment loss of RMB 14,038,000[89]. Cash Flow and Expenses - The net cash used in operating activities was RMB (13,209,000), compared to RMB (15,795,000) in the previous year, indicating an improvement[82]. - The company generated RMB 38,100,000 in net cash from financing activities, significantly higher than RMB 10,270,000 in the prior year[82]. - The company’s cash flow from investment activities showed a net outflow of RMB (9,028,000), contrasting with a net inflow of RMB 4,648,000 in the previous year[82]. - Financing costs decreased to RMB 4,270,000 for the six months ended December 31, 2020, down from RMB 6,929,000 in the same period of 2019, indicating improved cost management[102]. Share Options and Management Compensation - The company has a share option scheme in place to attract and retain qualified personnel, which was adopted on June 7, 2008[58]. - The maximum number of shares that can be issued under the share option scheme is capped at 10% of the issued shares as of November 5, 2012[61]. - The company granted a total of 222,600,000 share options under its share option plan, with various exercise prices ranging from HKD 0.75 to HKD 1.15[132]. - The total compensation for key management personnel during the period included short-term benefits of RMB 412,000 and post-employment benefits of RMB 78,000, totaling RMB 490,000[140].

Financial Performance - The company reported revenue of approximately RMB 51,000,000 and a gross profit of RMB 7,700,000 for the reporting period[13]. - The net profit for the period was approximately RMB 315,400,000, marking a significant turnaround compared to a net loss of RMB 2,383,670,000 in the previous year[9][13]. - Cash and cash equivalents increased by 57% to RMB 6,842,000 compared to RMB 4,364,000 in the previous year[9]. - Trade receivables decreased by 86% to RMB 2,629,000 from RMB 19,252,000 in the previous year[9]. - The gross profit for the current reporting period was approximately RMB 7,727,000, compared to a gross loss of approximately RMB 19,700,000 in the previous year[35]. - The net profit for the current reporting period was approximately RMB 315,416,000, a significant improvement from a net loss of approximately RMB 2,383,670,000 in the previous year[40]. - As of June 30, 2020, the net current liabilities were approximately RMB 294,934,000, down from RMB 831,853,000 in the previous year[41]. - The group reported a reserve deficit of approximately RMB 480,961,000 as of June 30, 2020, compared to RMB 630,771,000 in 2019[84]. - The group’s financial performance and position over the past five fiscal years are summarized in the annual report, although this summary is not part of the audited consolidated financial statements[79]. Operational Challenges - The company faced significant operational disruptions due to COVID-19, impacting business in China, Hong Kong, and Malaysia, leading to lower-than-expected revenue[12]. - The company reported a significant decline in revenue during the first half of 2020 due to COVID-19 related restrictions, with operations in China and Malaysia temporarily halted[23]. - Sales of frozen concentrated orange juice and related products decreased from approximately RMB 27,376,000 in the previous year to about RMB 15,685,000 in the current reporting period, a decline of approximately RMB 11,691,000 due to interruptions caused by COVID-19[32]. - The company expects its financial performance for the fiscal year ending June 30, 2020, to be negatively impacted by COVID-19, although the extent remains uncertain[23]. Debt Management - The company reduced its bank borrowings from approximately RMB 768,000,000 to about RMB 274,000,000 following a loan repayment agreement with several banks[12]. - The company successfully negotiated a loan repayment agreement with several banks, resulting in a waiver of approximately USD 20,490,000 in outstanding debts, improving the financial situation significantly[22]. - The company anticipates further improvement in its financial condition following the restructuring of approximately USD 17,555,000 in bank loans, which is expected to be deferred until 2024[22]. - The total remaining outstanding bank loans after the repayment agreement is approximately HKD 209,000,000[22]. - The company plans to issue bonds and convertible bonds totaling HKD 180,000,000 to repay part of its outstanding debts[108]. - The convertible bonds can be converted into approximately 395,721,925 shares, representing about 22.7% of the enlarged issued share capital post-conversion[108]. - The company expects to raise HKD 42,300,000 from the exercise of warrants, which will be used for financing costs and operational restructuring in China[109]. - The total consideration payable by the controlling shareholder for the subscription agreement is approximately HKD 186,000,000[107]. - After the completion of the fundraising and loan repayment, the company's outstanding debt is expected to decrease to HKD 209,000,000, significantly reducing its liabilities[113]. - The company anticipates a substantial improvement in its liquidity position and a relief in interest burden following the debt restructuring[113]. Corporate Governance - The company has adopted a dividend policy that considers its ability to pay dividends based on financial performance, cash flow, and overall business conditions[185]. - The board has the discretion to declare dividends, subject to shareholder approval, and may consider special dividends in addition to interim or final dividends[185]. - The company will regularly review and reassess its dividend policy and its effectiveness[186]. - The company aims to enhance corporate governance and welcomes shareholder feedback to improve transparency[188]. - The company has adhered to all applicable code provisions in the Corporate Governance Code during the reporting period[138]. - The board consists of two executive directors and three independent non-executive directors, maintaining a high level of independence with over one-third being independent[141]. - The company has established a nomination committee to identify suitable candidates for directorship, ensuring qualifications align with business operations[148]. - The company has purchased directors and officers liability insurance to cover legal claims against directors and executives[152]. - The company’s governance policies and the latest developments in applicable laws and regulations are regularly updated and communicated to the directors[156]. Risk Management - The company has established a risk management and internal control system that ensures timely, accurate, and complete information transmission for monitoring and improving risk management[169]. - The board of directors is responsible for assessing the nature and extent of risks the company is willing to take to achieve strategic objectives, ensuring an effective risk management system is in place[170]. - The internal audit department reviewed significant monitoring aspects, including financial and operational controls, to reduce overall business and operational risks[175]. - The company has implemented measures to improve liquidity and financial conditions in response to significant uncertainties affecting its ability to continue as a going concern[176]. - The risk management system includes identifying risks, assessing risk parameters, and implementing key risk control points across business divisions[174]. - The company adheres to international financial reporting standards and accounting principles to ensure the integrity and reliability of its financial statements[174]. - The audit committee supervises the management in identifying uncertainties and determining the level of associated risks[174]. Employee and Operational Developments - The company had 113 employees as of June 30, 2020, compared to 104 employees in the previous year[53]. - Employee compensation for the group was approximately RMB 13,074,000 during the reporting period, down from RMB 25,033,000 in 2019[93]. - The company has been actively rebuilding its sales network and developing new products related to its brand, aiming to capitalize on the brand's advantages[31]. - The company is developing a new product line, with samples sent to distributors, and plans to launch these products within 2020 to expand its product range and leverage its strengths in the food service industry[31]. Environmental and Sustainability Practices - The group has implemented sustainable agricultural guidelines to protect soil, conserve water, and minimize greenhouse gas emissions in its self-operated orange orchards[72]. - The group has adhered to all relevant environmental protection laws and regulations in China, although future changes in these laws could lead to significant capital expenditures[74].