Financial Performance - In 2024, the Group's revenue was RMB 3,706,198, a decrease of 48.6% compared to RMB 7,192,853 in 2023[21]. - The gross profit for 2024 was RMB 104,039, down 77.3% from RMB 458,003 in 2023[21]. - The Group reported a loss attributable to owners of the parent of RMB 227,084 in 2024, compared to a profit of RMB 111,906 in 2023[21]. - Current assets decreased to RMB 3,187,190 in 2024 from RMB 4,738,265 in 2023, a decline of 32.7%[21]. - The net assets of the Group were RMB 962,432 in 2024, down from RMB 1,193,109 in 2023[21]. - The Group's revenue decreased by 48.5% from approximately RMB 7,192.9 million in 2023 to approximately RMB 3,706.2 million in 2024 due to reduced external shipment volume and a sharp decline in photovoltaic module prices[142]. - The total external shipment volume of photovoltaic modules decreased from 6,683.1 MW in 2023 to 4,576.2 MW in 2024, reflecting a significant reduction in market activity[135]. - Gross profit fell to approximately RMB104.0 million in 2024, down 77.3% from RMB458.0 million in 2023, with gross profit margin decreasing from 6.4% to 2.8%[147]. - Loss attributable to owners of the parent was approximately RMB227.1 million in 2024, compared to a profit of approximately RMB111.9 million in 2023, mainly due to decreased revenue and gross profit[159]. Market Dynamics - The photovoltaic industry is experiencing a slowdown in new installations, but emerging markets are showing strong demand, providing new growth opportunities[61]. - The photovoltaic industry is recognized as the most cost-effective source of electricity in many regions, driving continued demand growth for photovoltaic products[104]. - Trade protectionism is intensifying in major photovoltaic markets, posing threats to China's foreign trade exports driven by price advantages[77]. - The prices of silicon materials, silicon wafers, cells, and modules have all seen considerable declines, putting pressure on the gross profit margins across various segments[66]. - Emerging markets, particularly in the Middle East and Asia-Pacific, are showing strong demand growth, compensating for the slowdown in traditional markets like the US and Europe[65]. - The photovoltaic industry is expected to see stable growth in 2025 as inventory levels in Europe are digested, with emerging markets in the Middle East and Africa becoming new growth points[188]. Technological Advancements - The Group is committed to enhancing technological reserves and has partnered with West Lake University for research on perovskite technology[39][42]. - The Group's focus on high-efficiency monocrystalline products has positioned it as a leader in the photovoltaic market[116]. - The Group is conducting research on N-type HJT technology, perovskite technology, BIPV products, and offshore floating modules to upgrade mass production technology and expand market sales[139]. - The Group plans to increase R&D and production of multiple varieties of 8-inch semiconductor monocrystalline silicon and 13-15 inch semiconductor monocrystalline silicon by 2025 to meet chip market demand[129]. - The Group has signed an industry-school cooperation agreement with Southeast University to enhance R&D in zero-carbon buildings and BIPV technology, aiming to improve photoelectric conversion efficiency and reduce production costs[126]. Strategic Initiatives - The Group plans to strengthen cooperation with state-owned enterprises and improve its overseas business layout to achieve profit targets in 2025[38][41]. - The Group aims to establish a digital information factory and improve the ERP system to enhance operational efficiency and management levels[46]. - The Group's operational strategy includes a flexible sales and marketing approach to balance inventory levels and sales[141]. - The Group aims to enhance core competitiveness through strategic collaboration and technological innovation, focusing on domestic and international markets[194]. - The international strategy includes a "large customers + localization" dual-drive approach, with a focus on Southeast Asia and Central and Eastern Europe for market expansion[194]. Production Capacity and Efficiency - As of December 2024, the Group's module production capacity was 10.2GW[13]. - The output of the Jinzhou and Jianhu bases showed steady growth, with well-controlled yield and fragmentation rates, contributing to cost reduction and efficiency improvement[40][43]. - The Group aims to optimize its production capacity layout to enhance overall competitiveness and profitability amid improving supply-demand dynamics[103]. - The Group's production lines are capable of producing large-size products (182 mm and 210 mm), which are becoming the mainstream in the market, enhancing shipment volume and gross profit margin potential[139]. - The Group is investing in upgrading existing production capacity and facilities to align with technological advancements and improve production efficiency[130]. Financial Health and Management - The Group's current ratio improved to 1.2 from 1.1 in the previous year, indicating better short-term financial health[174]. - The net debt to equity ratio as of December 31, 2024, was 17.9%, a significant improvement from -59.7% in the previous year, indicating a shift towards a more leveraged position[174]. - The Group reported a net cash inflow from operating activities of approximately RMB 180.9 million in 2024, a significant turnaround from a net cash outflow of RMB 692.1 million in 2023[175]. - Administrative expenses reduced to approximately RMB220.0 million in 2024 from RMB279.0 million in 2023, due to enhanced operational efficiency and cost control measures[149]. - The Group is establishing a comprehensive risk management system to address price fluctuations, policy, and technological risks[194]. Market Expansion and Customer Base - The Group achieved sales of RMB 533 million from overseas orders, successfully entering new markets such as Kenya and Ukraine despite rising trade protectionism[34][36]. - The domestic sales team added 16 new customers, whose orders accounted for 43% of the annual sales volume, contributing to an increased market share of the Group's own brands[33][36]. - The Group's module sales are primarily directed towards large state-owned enterprises and international corporations, enhancing its market presence[121]. - The Group plans to establish localized production bases and R&D centers in target markets to adapt to changing demand structures and effectively respond to trade protection barriers[107]. Environmental and Regulatory Context - In 2024, global clean energy investment exceeded USD 2.0 trillion, about twice the total investment in fossil energy, indicating a strong shift towards energy transition[60]. - By 2030, G20 countries need to significantly enhance their renewable energy capacity, with a target of 9,400 GW, reflecting the urgent need for energy transition[100]. - The photovoltaic industry is expected to experience broader development opportunities due to the deepening of "dual carbon" goals and the acceleration of global energy transition[194].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 3,706,198 thousand, a decrease of 48.6% compared to RMB 7,192,853 thousand in 2023[3] - The gross profit for the same period was RMB 104,039 thousand, down 77.3% from RMB 458,003 thousand in the previous year[3] - The company incurred a net loss attributable to shareholders of RMB 226,996 thousand, compared to a profit of RMB 141,668 thousand in 2023, representing a significant decline[4] - Total revenue from external customers decreased to RMB 3,706,198 thousand in 2024 from RMB 7,192,853 thousand in 2023, representing a decline of approximately 48.6%[18] - The total reported segment loss for the company was RMB (226,996) thousand in 2024 compared to a profit of RMB 141,668 thousand in 2023[13] - The company reported a loss before tax of RMB 232,211,000 for 2024, compared to a profit of RMB 157,130,000 in 2023[30] - The net loss attributable to shareholders was approximately RMB 227.1 million, compared to a net profit of RMB 111.9 million in 2023, primarily due to declines in revenue and gross profit[71] Revenue Breakdown - Revenue from Segment A (Manufacturing and Trading of Photovoltaic Components) dropped to RMB 3,529,839 thousand in 2024 from RMB 7,021,656 thousand in 2023, a decrease of about 49.7%[13] - Revenue from photovoltaic module manufacturing and sales was RMB 3,527,729,000, down 38.8% from RMB 5,779,995,000 in 2023[20] - Revenue from semiconductor manufacturing and sales increased to RMB 46,412,000, up 9.0% from RMB 42,488,000 in 2023[20] - Revenue from photovoltaic power station construction and operation was RMB 129,947,000, slightly up from RMB 128,667,000 in 2023[20] Assets and Liabilities - Total current assets decreased to RMB 3,187,190 thousand from RMB 4,738,265 thousand in 2023, reflecting a reduction of 32.7%[7] - Current liabilities also decreased to RMB 2,748,573 thousand from RMB 4,121,752 thousand, a decline of 33.3%[7] - Non-current assets totaled RMB 795,839 thousand, down from RMB 929,930 thousand in 2023, indicating a decrease of 14.4%[7] - The total value of trade receivables and contract assets was RMB 1,412,672,000 in 2024, with a total loss provision of RMB 48,995,000[39] - The company’s total liabilities decreased from RMB 1,223,923,000 in 2023 to RMB 954,205,000 in 2024, reflecting a reduction of approximately 21.9%[43] Cash Flow and Financing - The company’s cash and cash equivalents decreased to RMB 270,699 thousand from RMB 578,364 thousand, a reduction of 53.3%[7] - The net cash inflow from operating activities in 2024 is approximately RMB 180.9 million, compared to a net cash outflow of RMB 692.1 million in 2023[76] - Financing costs decreased to RMB 59,999,000 in 2024 from RMB 71,118,000 in 2023, indicating improved cost management[29] - The company had no borrowings as of December 31, 2024, compared to RMB 18,000,000 in 2023[35] Operational Efficiency - Employee costs totaled RMB 259,695,000 in 2024, down from RMB 297,375,000 in 2023, reflecting a reduction in salaries and benefits[28] - Administrative expenses for the year were approximately RMB 220.0 million, down from RMB 279.0 million in 2023, attributed to enhanced operational efficiency and cost control measures[66] - The company recorded an impairment loss of approximately RMB 107.9 million on property, plant, and equipment, compared to no impairment in 2023[68] Strategic Focus and Future Plans - The company plans to focus on new product development and market expansion strategies to improve future performance[2] - The company plans to focus on expanding its semiconductor and photovoltaic sectors to drive future growth[20] - The company aims to improve operational efficiency and strictly control costs in response to the oversupply and intense competition in the photovoltaic market[59] - The company is actively engaged in the development, design, construction, operation, and maintenance of photovoltaic power stations, providing comprehensive solutions in the renewable energy sector[47] Market Conditions and Challenges - The photovoltaic industry is facing severe challenges, with sales prices below cost, leading to significant financial declines for many companies in 2024[81] - The Chinese government is promoting market adjustments and encouraging the development of high-efficiency battery technologies to support sustainable growth in the photovoltaic industry[82] - The overseas photovoltaic market is expected to gradually recover and stabilize by 2025, with emerging markets in the Middle East and Africa becoming new growth points[83] Corporate Governance - The company has adopted the standard code of conduct for directors' securities transactions as per the Hong Kong Stock Exchange listing rules, confirming compliance for the financial year ending December 31, 2024[89] - The company continuously reviews and enhances its corporate governance practices, adhering to the corporate governance code outlined in the listing rules for the year ending December 31, 2024[90] - The auditor, Ernst & Young, has verified and agreed with the figures presented in the group's consolidated income statement, comprehensive income statement, and financial position statement for the year[92]

Financial Performance - Revenue for the six months ended 30 June 2024 was RMB 1,693,242 thousand, a significant decrease compared to RMB 3,472,597 thousand in the same period of 2023[4] - Gross profit for the six months ended 30 June 2024 was RMB 21,965 thousand, a sharp decline from RMB 233,784 thousand in the same period of 2023[4] - The Group reported a loss of RMB 101,719 thousand for the six months ended 30 June 2024, compared to a profit of RMB 127,146 thousand in the same period of 2023[4] - Basic loss per share attributable to ordinary equity holders of the parent was RMB 3.04 cents for the six months ended 30 June 2024, compared to earnings of RMB 3.01 cents in the same period of 2023[4] - The Group's revenue decreased by 51.2% from approximately RMB3,472.6 million in H1 2023 to approximately RMB1,693.2 million in H1 2024, primarily due to reduced photovoltaic module shipments and a sharp decline in module prices[40] - Gross profit margin dropped to 1.3% in H1 2024 from 6.7% in H1 2023, representing a 5.4 percentage point decrease, mainly due to declining module prices and inventory write-downs[41] - Sales cost decreased from RMB 3,238.8 million in H1 2023 to RMB 1,671.3 million in H1 2024, primarily due to reduced shipments of photovoltaic modules[44] - Gross profit dropped by 90.6% to RMB 22.0 million in H1 2024, with gross margin declining from 6.7% to 1.3% due to sharp price declines and inventory impairment[44] - Loss attributable to owners of the parent was RMB 101.1 million in H1 2024, compared to a profit of RMB 99.9 million in H1 2023, mainly due to decreased revenue and gross profit[47][52] - The Group's loss before tax for the six months ended 30 June 2024 was RMB122,207,000, compared to a profit of RMB121,369,000 in the same period in 2023[118] - The Group reported a basic loss per share of RMB101,147,000 for the six months ended 30 June 2024, compared to a profit of RMB99,909,000 for the same period in 2023[124] Photovoltaic Industry Trends - Global PV demand is expected to increase slightly by 0–12% in 2024, with the number of gigawatt-scale markets expected to reach 39[5] - The PV industry in China has entered a stage of steady growth after a reshuffle, with the market gradually returning to rationality from explosive growth[5] - China's newly installed PV capacity in the first half of 2024 reached 102.5 GW, a year-on-year increase of 30.7%[6] - Cumulative installed solar power generation capacity in China reached approximately 710 million KW by the end of June 2024, a year-on-year increase of 51.6%[6] - China's PV module output is expected to exceed 750 GW in 2024, a year-on-year increase of 50.3%[7] - Global PV module demand is expected to reach 570 GW to 620 GW in 2024, with a growth rate of around 25%[9] - Europe's PV module demand is expected to increase by around 20% in 2024, reaching 97 GW to 115 GW[10] - The US commissioned 251 new solar power units with a total installed capacity of 10,669 MW from January to May 2024, accounting for 74% of total installed capacity[12] - India installed 12,156 MW of photovoltaic systems in the first half of 2024, a significant increase compared to the previous year[13] - The US solar module production capacity increased by 11 GW in the first quarter of 2024, the largest quarterly increase in history[12] - India plans to achieve 337 GW of renewable energy installations from 2026 to 2027, with PV accounting for more than 50%[13] - US solar module capacity increased by 11 GW in Q1 2024, marking the largest quarterly increase in history[14] - US added 251 solar units from January to May 2024, with a total installed capacity of 10,669 MW, accounting for 74% of total new capacity[14] - India installed over 85 GW of solar capacity, with 12,156 MW added in the first half of 2024, a 400% YoY increase[14] - India aims to achieve 337 GW of renewable energy capacity by 2026-2027, with solar accounting for over 50%[14] Group Operations and Production Capacity - The Group's module production capacity reached 9.8GW as of the end of June 2024[3] - Total production capacity of the company's production bases reached 9.8 GW as of June 2024, with 8.0 GW located in Yancheng, Jiangsu[22][24][25] - The company's monocrystalline module products, including N-type and P-type high-efficiency modules, large-format modules, and flexible modules, have become mainstream in the market[23][26] - The company has introduced SHARP's 40-year quality assurance system for photovoltaic products, ensuring stable and reliable product quality[28] - The company's module sales are primarily to large state-owned enterprises and international multinationals, including State Power Investment Corporation and SHARP Corporation[27] - The company is actively expanding its photovoltaic system business, including EPC, BAPV, and BIPV, leveraging national policies promoting green buildings and carbon neutrality[29] - The company's Yancheng production base benefits from local government preferential policies and reduced capital expenditure through plant rentals[24] - The company's products have been recognized with multiple industry awards, including being ranked No. 14 in the 2024 China Photovoltaic Module Enterprises Top 20[21] - The company's module production technology and processes have been refined since 2009, focusing on high-efficiency monocrystalline products[23][26] - The company anticipates broad development prospects for its BIPV business due to the large building volume and potential for distributed photovoltaic generation in China[29] - The Group's photovoltaic system business includes traditional distributed power station EPC, BAPV, and BIPV, with BIPV expected to have broad development prospects due to China's green building policies[30] - The Group has signed an industry-school cooperation agreement with Southeast University to establish a BIPV R&D line, aiming to enhance photoelectric conversion efficiency and lower production costs[31] - The BIPV structural components developed by the Group have obtained over 20 patent authorizations, enhancing market competitiveness and technical strength[32] - The Group's module production lines can produce large-format modules (182mm/210mm) with power exceeding 710W, maintaining a leading position in automation and packaging technology[38] - The Group has completed capacity upgrades and new high-efficiency capacity investments since 2018, significantly improving production efficiency and cost-effectiveness[37] - Large-format modules (182mm/210mm) have become mainstream products, with market share far exceeding smaller sizes, and the Group's production lines are fully capable of manufacturing these sizes[38] - The Group is developing advanced technologies including N-type HJT, perovskite, BIPV, offshore floating modules, and flexible modules to enhance product competitiveness[38] - The Group maintains a strong client base in China and overseas, with increasing market demand expected to stabilize module price declines[39] - Production costs are expected to decrease further due to government policy support and optimized production processes at the Group's main production base[39] - The Group is implementing flexible sales strategies to accelerate inventory turnover and improve operational efficiency[39] Semiconductor Business - The semiconductor business showed growth in H1 2024 due to increased customer orders following market adjustments and destocking[33] - The Group plans to increase R&D and production of 8-inch semiconductor monocrystalline silicon and silicon carbide in 2024 to meet customer demand[33] - The Group's semiconductor business is expected to maintain growth and contribute profits in the long term, driven by the growth of the Chinese semiconductor market[36] Costs and Expenses - Selling and distribution expenses decreased from RMB 60.3 million in H1 2023 to RMB 38.9 million in H1 2024, mainly due to lower photovoltaic module prices affecting warranty obligations[45] - Administrative expenses reduced from RMB 115.8 million in H1 2023 to RMB 102.8 million in H1 2024, driven by improved operational efficiency and cost control[45] - Finance costs decreased by 12.3% from RMB 35.8 million in H1 2023 to RMB 31.4 million in H1 2024, with the company aiming to further reduce costs and diversify financing channels[45] - Research and development costs decreased to RMB9,564,000 in 2024 from RMB21,035,000 in 2023[118] - The cost of inventories sold in 2024 was RMB1,652,733,000, a decrease from RMB2,524,203,000 in 2023[118] - The cost of services rendered in 2024 was RMB18,544,000, significantly lower than RMB714,610,000 in 2023[118] - Staff costs and depreciation included in the cost of inventories sold and services rendered totaled RMB156,869,000 in 2024, compared to RMB154,340,000 in 2023[119] Inventory and Receivables - Inventory turnover days increased to 53 days in H1 2024 from 24 days at the end of 2023, reflecting reduced external shipments of photovoltaic modules[48][53] - Trade receivables turnover days rose to 218 days in H1 2024 from 94 days at the end of 2023, due to delayed settlements by some customers[49][54] - Trade payables turnover days increased to 235 days in H1 2024 from 168 days at the end of 2023, as suppliers extended credit lines and payment terms[50][55] - Inventories as of 30 June 2024 totaled RMB665,978,000, with finished goods accounting for RMB584,244,000[124] - Trade and bills receivables as of 30 June 2024 amounted to RMB1,785,618,000, with trade receivables within 1 year totaling RMB1,590,228,000[126][127] - The Group allows credit periods of 30 to 90 days for customers, with some domestic photovoltaic module sales granted credit periods exceeding 180 days[127] - As of 30 June 2024, no bills receivable were pledged as security, compared to RMB181,813,000 as of 31 December 2023[128] - Accounts receivable for domestic component sales have a credit period of up to 180 days due to the construction cycle of power plants[129] - Contract assets from industrial product sales decreased to RMB 95,122,000 as of June 30, 2024, from RMB 181,947,000 as of December 31, 2023[130] - Prepayments for raw materials increased to RMB 161,076,000 as of June 30, 2024, from RMB 122,363,000 as of December 31, 2023[131] - Pledged deposits decreased to RMB 622,218,000 as of June 30, 2024, from RMB 1,346,754,000 as of December 31, 2023[132] Cash Flow and Financing - Net cash outflow from operating activities was approximately RMB121.7 million in the first half of 2024, compared to RMB314.8 million in the same period of 2023[56] - The Group had 2,555 employees as of 30 June 2024, down from 2,887 employees at the end of 2023[58][62] - The Group upgraded its monocrystalline silicon module production capacity to better compete in the photovoltaic industry and meet growing demand[60][63] - The Group is exposed to foreign currency risk primarily through US Dollar and Euro transactions, but uses natural hedging strategies to mitigate this risk[57][61] - The Directors are confident in the Group's long-term development despite current over-capacity challenges in the photovoltaic module industry[64][66] - No interim dividend was recommended for the six months ended 30 June 2024[65][67] - The company repaid bank loans and other loans amounting to RMB 595,062 thousand in 2024, a decrease from RMB 671,999 thousand in 2023[95] - Proceeds from bank loans and other loans were RMB 452,805 thousand in 2024, down from RMB 517,733 thousand in 2023[95] - Net cash flows used in financing activities totaled RMB 175,827 thousand in 2024, a significant reduction from RMB 439,054 thousand in 2023[95] - The company's cash and cash equivalents decreased by RMB 379,652 thousand in 2024, compared to a decrease of RMB 348,693 thousand in 2023[95] - Total current bank and other borrowings amounted to RMB 1,073,090,000 as of June 30, 2024, down from RMB 1,195,684,000 as of December 31, 2023[134] - Other loans secured by bills receivable decreased to RMB 12,941,000 as of June 30, 2024, from RMB 16,153,000 as of December 31, 2023[136] Corporate Governance and Shareholding - Mr. TAN Wenhua holds a beneficial interest in 556,924,443 shares, representing 16.76% of the company's total shares[69][70] - Mr. TAN Wenhua, through You Hua Investment Corporation, holds an additional 155,320,308 shares, bringing his total interest to 712,244,751 shares, or 21.43% of the company[70][71] - Hiramatsu International Corp. holds 304,261,692 shares, representing 9.15% of the company's total shares[73] - Hanako Hiramatsu is deemed to have an interest in 304,261,692 shares through Hiramatsu International Corp., representing 9.15% of the company[73] - Madam SZE Tan Hung holds a beneficial interest in 218,521,000 shares, representing 6.57% of the company's total shares[73] - Mr. TUNG Ching Sai is deemed to have an interest in 218,521,000 shares through his spouse, Madam SZE Tan Hung, representing 6.57% of the company[73] - The company has complied with the Corporate Governance Code requirements for the six months ended 30 June 2024[75][78] - The company did not have any share schemes during the six months ended 30 June 2024[81] - The company and its subsidiaries did not purchase, redeem, or sell any listed securities during the six months ended 30 June 2024[81] - Dr. Wong Wing Kuen, Albert, resigned as an independent non-executive director of Dexin China Holdings Company Limited on 11 June 2024[82] Tax and Regulatory - Income tax credit of RMB 4.0 million in H1 2024, compared to an expense of RMB 22.4 million in H1 2023, mainly due to recognition of deferred tax assets and reduced assessable profit[46][51] - The statutory tax rate for the Company's subsidiary in Germany is 15%, with no taxable profits reported for the period[122] - Jinzhou Yangguang, a PRC subsidiary, is eligible for a reduced income tax rate of 15% due to its "High and New Technology Enterprise" status[122] - Jiangsu Yueyang and Liaoning Semiconductor are entitled to a reduced income tax rate of 15% for the six months ended 30 June 2024 and 2023, with renewal applications still in progress[123] - Jiangsu Zhiding is eligible for a reduced income tax rate of 15% and enjoys a three-year tax exemption period for its photovoltaic system construction project, with a 50% reduction in corporate income tax for the fourth to sixth profit-making years[123] Related Party Transactions - Sales of goods to entities controlled by directors increased to RMB 1,090,000 in 2024 from RMB 632,000 in 2023, a 72.5% increase[152] - Sales of electricity to entities controlled by directors decreased to RMB 1,051,000 in 2024 from RMB 1,222,000 in 2023, a 14% decrease[152] - Maintenance services income from entities controlled by directors decreased to RMB 385,000 in 2024 from RMB 496,000 in 2023, a 22.4% decrease[152] - Purchase of goods from entities controlled by directors increased to RMB 1,116,000 in 2024 from RMB 693,000 in 2023, a 61% increase[152] - The Group had an outstanding balance due to a director of a subsidiary amounting to RMB 2,155,000 (equivalent to HK$2,365,000) as at the end of the reporting period, with a 5% annual interest rate[159] - Trade and bills receivables from entities controlled by directors decreased to RMB 742,000 in 2024 from RMB 1,019,000 in 2023, a 27.2% decrease[159] - Prepayment, other receivables, and other assets from entities controlled by directors were RMB 2,667,000 in 2024, compared to none in 2023[159] - Trade payables to entities controlled by directors decreased to RMB 18,000 in 2024 from RMB 651,000 in 2023, a 97.2% decrease[159] - Trade and bills receivables from associates of the Group decreased to RMB 15,954,000 in 2024 from RMB 17,954,000 in 2023, an 11.1% decrease[159] - Short-term loan from a director of the Company increased to RMB 2,155,000 in 2024 from RMB 1,672,000 in 2023, a 28.9% increase[159] Assets and Liabilities - Total non-current assets increased to RMB 943,371 thousand as of 30 June 2024, up from RMB 929,930 thousand at 31 December 2023[90] - Total current assets decreased to RMB 3,750,543 thousand as of 30 June 2024, down from RMB 4,738,

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of RMB 1,693,242 thousand, a decrease of 51.2% compared to RMB 3,472,597 thousand in the same period of 2023[1]. - The gross profit for the same period was RMB 21,965 thousand, significantly down from RMB 233,784 thousand in 2023, indicating a decline in profitability[1]. - The company recorded a loss before tax of RMB 105,754 thousand, compared to a profit of RMB 149,534 thousand in the previous year[1]. - The net loss attributable to equity holders of the parent for the period was RMB 101,147 thousand, compared to a profit of RMB 99,909 thousand in 2023[2]. - Basic and diluted loss per share for the period was RMB (3.04), compared to earnings of RMB 3.01 per share in the same period last year[2]. - The total cost of goods sold for the six months ended June 30, 2024, was RMB 1,652,733,000, a decrease of 34.5% from RMB 2,524,203,000 in the prior year[19]. - The gross profit recorded was approximately RMB 22.0 million, with a gross margin of 1.3%, down 90.6% and 5.4 percentage points from RMB 233.8 million and 6.7% in the same period of 2023, mainly due to the sharp decline in module prices and inventory impairment[44]. - The company recorded a net loss attributable to shareholders of approximately RMB 101.1 million, compared to a net profit of approximately RMB 99.9 million in the same period of 2023, primarily due to the decrease in revenue and gross profit[51]. Assets and Liabilities - Total non-current assets as of June 30, 2024, amounted to RMB 943,371 thousand, a slight increase from RMB 929,930 thousand as of December 31, 2023[3]. - Current assets decreased to RMB 3,750,543 thousand from RMB 4,738,265 thousand at the end of 2023, reflecting a reduction in liquidity[3]. - The company's total liabilities decreased from RMB 4,121,752 thousand to RMB 3,301,058 thousand, indicating improved financial stability[3]. - Cash and cash equivalents at the end of the period were RMB 198,666 thousand, down from RMB 600,443 thousand at the end of June 2023[5]. - The company reported a net cash outflow from operating activities of RMB 121,717 thousand, compared to RMB 314,841 thousand in the same period last year[5]. - As of June 30, 2024, trade receivables and contract assets amounted to RMB 1,785,618,000, a decrease from RMB 1,974,652,000 as of December 31, 2023[22]. - The company’s accounts payable increased to RMB 1,831,654,000 as of June 30, 2024, compared to RMB 2,533,356,000 as of December 31, 2023[24]. - The company reported contract assets of RMB 121,546,000 as of June 30, 2024, down from RMB 213,402,000 as of December 31, 2023, a decrease of 43.1%[25]. - The company's accounts payable for property, plant, and equipment increased to RMB 79,058,000 as of June 30, 2024, compared to RMB 75,767,000 as of December 31, 2023, reflecting a growth of 3.4%[29]. - The accounts payable for freight increased to RMB 32,371,000 as of June 30, 2024, from RMB 29,758,000 as of December 31, 2023, indicating a rise of 5.4%[29]. Operational Efficiency and Costs - The company aims to enhance product quality and leverage cost advantages from larger product lines to capture market share, supported by favorable government policies and production environments[1]. - The company is committed to improving operational efficiency and strictly controlling costs in response to the current challenging industry conditions[40]. - Financing costs decreased by 12.3% from approximately RMB 35.8 million in the first half of 2023 to approximately RMB 31.4 million in the first half of 2024, as the company gradually reduces financing costs[49]. - The company aims to strengthen its market share by leveraging its significant production capacity and cost advantages in the photovoltaic module sector[39]. Production and Capacity - The total production capacity for solar modules reached 9.8 GW by the end of June 2024, with the Jiangsu Yancheng production base contributing 8.0 GW[34][35]. - The company continues to expand its production capacity to meet the growing demand for solar products, driven by global energy transition trends[32]. - The company has upgraded its monocrystalline module production capacity to better utilize favorable external production environments and meet the increasing demand for photovoltaic products[61]. - The company has invested in upgrading existing production capacity and facilities since 2018 to enhance production efficiency and reduce costs[39]. Research and Development - The company is conducting multiple research projects on N-type heterojunction technology, perovskite technology, BIPV products, offshore modules, and flexible modules to upgrade mass production technology and expand market sales[1]. - The company has established a research collaboration with Southeast University to enhance BIPV component efficiency and reduce production costs, resulting in over 20 patents granted for BIPV structural components[37]. Market Outlook - The company anticipates continued growth in demand for photovoltaic products driven by technological advancements, cost reductions, and supportive government policies, contributing to a sustainable and high-quality development in the photovoltaic industry[60]. - The company expects the market price decline of photovoltaic modules to stabilize gradually due to increasing downstream installation demand and a slowdown in capacity surplus in the photovoltaic industry[1]. - The company aims to enhance its market share by improving product quality and reducing production costs through efficient capacity layout[35]. Corporate Governance - The board of directors does not recommend the distribution of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[62]. - The company has adopted a standard code of conduct for securities trading by directors, ensuring compliance throughout the reporting period[63]. - The audit committee has reviewed the accounting principles and practices adopted by the company, including the interim performance for the six months ended June 30, 2024[64]. - There have been no purchases, redemptions, or sales of the company's listed securities by the company or its subsidiaries during the reporting period[65]. - The detailed interim report for the six months ended June 30, 2024, will be sent to shareholders and made available on the Hong Kong Stock Exchange and the company's website[66].

Financial Performance - Total revenue for 2023 reached RMB 7,192,853, an increase of 4.7% compared to RMB 6,869,362 in 2022[14] - Gross profit for the year was RMB 458,003, representing a gross margin improvement from RMB 271,264 in 2022[14] - The profit attributable to owners of the parent was RMB 111,906, a significant recovery from a loss of RMB 957,163 in the previous year[14] - The basic earnings per share for 2023 was RMB 3.37, compared to RMB 28.80 in 2022[14] - The company recorded a profit from continuing operations of approximately RMB 141.7 million, a significant turnaround from a loss of approximately RMB 134.7 million in 2022[65] - Total comprehensive income for the year was RMB 125,412,000, significantly lower than RMB 1,084,703,000 in the previous year[140] - Profit for the year from continuing operations was RMB 141,668,000, compared to a loss of RMB 134,729,000 in the previous year[132] - The company reported a cash outflow from operations of RMB 1,565,831,000 for the year 2023, compared to a cash inflow of RMB 2,448,812,000 in 2022[188] Production Capacity - The total production capacity of the Group's modules reached 9.8 GW by the end of December 2023[12] - The total production capacity of components reached an annual capacity of 9.8GW[37] - As of December 31, 2023, the module production capacity of the Group was 9.8GW[122] Market and Industry Trends - In 2023, the global installed capacity of renewable energy reached nearly 510GW, with a year-on-year growth of approximately 50%, and solar PV accounted for about 375GW, up by approximately 31.8%[33] - The global PV industry has surpassed hydropower for the first time, becoming the most cost-effective energy source in most countries[49] - The EU's newly installed PV capacity is expected to reach 56GW in 2023, maintaining an annual growth rate of over 40% for three consecutive years[54] - The US solar PV industry is forecasted to install 33GW of new capacity in 2023, with imports from China increasing by nearly 22% to 30.2GW[57] - China's newly installed solar PV capacity reached 216.9GW, a year-on-year increase of 148.12%, equivalent to the total newly installed global solar PV capacity in 2022[82] Asset Management - Current assets decreased to RMB 4,738,265 from RMB 6,732,819 in 2022, reflecting a strategic focus on optimizing asset management[14] - Non-current assets decreased to RMB 929,930 from RMB 1,004,472 in 2022, indicating a shift in asset allocation strategy[14] - The overall net assets of the Group stood at RMB 1,193,109, slightly down from RMB 1,205,698 in 2022, reflecting ongoing adjustments in financial strategy[14] - Total current liabilities were RMB 4,121,752,000, down from RMB 6,117,099,000, reflecting improved financial management[160] Strategic Initiatives - The Group is actively pursuing overseas markets to drive sales growth, enhancing its market presence and customer base[19] - The company plans to enhance product technology innovation by constructing new module laboratories and implementing high-end technologies, which will help reduce costs and improve profitability[44] - The company aims to expand its market share by enhancing brand influence and market channels, particularly in key markets such as China, Europe, the Americas, and India[39] - The Group has optimized supply chain management to reduce costs and improve operational efficiency, ultimately boosting profitability[34] Corporate Governance - The company has established a Remuneration Committee to ensure transparent remuneration policies for directors and senior management[150] - The company is focused on enhancing its corporate governance practices, as evidenced by the establishment of various board committees[150] - The Group acknowledges its responsibilities under the Securities and Futures Ordinance and the Listing Rules for immediate announcement of inside information[192] Research and Development - The Group has obtained 327 national patents and received numerous awards, including being ranked 15th among the Top 20 PRC Photovoltaic Module Companies in 2023[97] - The Group is committed to delivering high-quality PV products and comprehensive after-sales services to drive the advancement of the clean energy industry[45] Gender Diversity - The workforce composition as of December 31, 2023, was 36.7% female and 63.3% male, indicating a commitment to gender diversity[176] - The company plans to continue its commitment to gender diversity and equality within the board and all employees[181]

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 7,192.9 million, representing a 4.7% increase from RMB 6,869.4 million in 2022[15] - The profit from continuing operations for the year was RMB 141.7 million, a significant turnaround from a loss of RMB 134.7 million in the previous year[15] - The gross profit for the year was RMB 458.0 million, compared to RMB 271.3 million in 2022, indicating improved profitability[17] - The annual profit for 2023 was RMB 141,668 thousand, a significant decrease from RMB 1,112,088 thousand in 2022, representing a decline of approximately 87.3%[18] - The total comprehensive income for 2023 was RMB 125,412 thousand, down from RMB 1,084,703 thousand in 2022, indicating a decrease of about 88.4%[18] - The profit attributable to the parent company's shareholders was RMB 95,650 thousand in 2023, compared to RMB 929,778 thousand in 2022, reflecting a decline of approximately 89.7%[18] - The pre-tax profit from continuing operations for 2023 was RMB 157,130,000, a significant recovery from a loss of RMB 118,543,000 in 2022[89] - The total pre-tax profit for 2023 was RMB 157,130,000, compared to RMB 1,269,433,000 in 2022, indicating a shift due to discontinued operations[89] Assets and Liabilities - The total liabilities decreased by 31.5% to RMB 4,475.1 million from RMB 6,531.6 million in 2022[15] - The net assets of the group as of December 31, 2023, were RMB 1,193.1 million, slightly down from RMB 1,205.7 million in 2022[6] - Cash and cash equivalents decreased to RMB 578.4 million from RMB 937.9 million in the previous year[5] - Inventory levels reduced significantly to RMB 326.8 million from RMB 587.6 million in 2022, reflecting better inventory management[5] - The company reported a significant increase in trade receivables, which rose to RMB 2,188.1 million from RMB 1,558.9 million in 2022[5] - The total value of trade receivables and contract assets was RMB 1,953,190,000, with an expected credit loss rate of 0.97% for amounts due within one year[76] - The company has a total of RMB 1,403,010,000 in current liabilities as of December 31, 2023, compared to RMB 1,246,979,000 in 2022[110] Revenue Breakdown - Revenue from the manufacturing and sales of photovoltaic components was RMB 5,779,995 thousand in 2023, slightly down from RMB 5,839,067 thousand in 2022[41] - Revenue from the mainland China market was RMB 5,981,401 thousand in 2023, up from RMB 5,193,815 thousand in 2022, marking an increase of approximately 15.2%[36] - The company’s service revenue grew to RMB 1,241,703 thousand in 2023, compared to RMB 805,283 thousand in 2022, representing a growth of about 54.3%[41] - Sales of industrial products decreased to RMB 35,633,000 in 2023 from RMB 318,662,000 in 2022, representing an 88.8% decline[64] - Construction services revenue fell to RMB 2,363,000 in 2023 from RMB 10,356,000 in 2022, a decrease of 77.2%[64] Cost and Expenses - The cost of goods sold for the year was RMB 5,459,114,000, down from RMB 5,724,220,000 in 2022, a reduction of 4.6%[84] - Sales cost increased from approximately RMB 6,598.1 million for the year ended December 31, 2022, to approximately RMB 6,734.9 million for the current year, primarily due to overall revenue growth[147] - The company’s employee costs increased to RMB 297,375,000 in 2023 from RMB 219,469,000 in 2022, an increase of 35.5%[84] - Sales and distribution expenses increased from RMB 79.9 million in 2022 to RMB 100.6 million in 2023, primarily due to the absence of prior year adjustments[174] Cash Flow and Financing - In 2023, the company experienced a net cash outflow of approximately RMB 1,648.3 million from operating activities, compared to a net cash inflow of approximately RMB 2,397.4 million in 2022[198] - The primary reason for the cash outflow in 2023 was a decrease in trade and other payables, along with an increase in trade receivables[198] - The group’s financing costs decreased from RMB 78.8 million in 2022 to RMB 71.1 million in 2023, indicating a gradual reduction in financing expenses[175] - The interest expense on financial liabilities not measured at fair value through profit or loss totaled RMB 71,118,000 in 2023, down from RMB 78,793,000 in 2022[88] Operational Highlights - The company reported a net foreign exchange gain of RMB 30,999,000 in 2023, down from RMB 43,919,000 in 2022, a decline of 29.4%[65] - The company’s photovoltaic module shipments increased from 4,205.3 MW in 2022 to 6,683.1 MW in 2023, representing a growth of 58.9%[120] - The group aims to enhance product diversification and competitiveness through the development of all-black modules and advanced technologies like N-type HJT and perovskite technology[144] - The group has established partnerships with Southeast University for R&D in BIPV technology, focusing on improving efficiency and reducing production costs[165] - The company anticipates continued growth in photovoltaic product demand driven by supportive government policies and the transition to renewable energy[161] Strategic Initiatives - The company plans to continue focusing on market expansion and new product development to drive future growth[3] - The company plans to continue expanding its market presence, particularly in Europe and Asia, as indicated by the revenue growth in these regions[36] - The company has ongoing investments in new technologies and product development to enhance its competitive edge in the market[41] - The group has established direct supply relationships with large component customers, enhancing its market share and competitive advantage in the photovoltaic industry[142] - The group completed the acquisition of Jiangsu Yueyang in June 2023, with its full-year performance expected to contribute to the group's results in 2024[171]

Financial Performance - The Group recorded a gross profit of approximately RMB 233.8 million with a gross margin of 6.7%, compared to RMB 111.0 million and a gross margin of 4.7% in the same period of 2022, marking an increase of 110.6% and 2 percentage points respectively [19]. - Revenue from continuing operations for the six months ended June 30, 2023, was RMB 3,472,597, an increase from RMB 2,362,942 in the same period of 2022 [104]. - The profit for the period ended June 30, 2023, is RMB 99,909,000, compared to a profit of RMB 285,924,000 for the same period in the previous year, indicating a decrease of about 65.1% [128]. - Total comprehensive income for the period after tax was RMB 111,509, down from RMB 121,387 in the same period of 2022 [105]. - The company reported a profit for the period from continuing operations of RMB 127,146, compared to RMB 28,041 in the same period of 2022 [104]. - The company reported total comprehensive income of RMB 84,272,000 for the six months ended June 30, 2023, down from RMB 111,509,000 in the prior year, representing a decline of approximately 24.4% [128]. Revenue Growth - Total revenue for the six months ended June 30, 2023, reached RMB 3,472,597, an increase from RMB 2,362,942 in the same period of 2022, representing a growth of approximately 47.0% [156]. - Revenue from the manufacture and trading of photovoltaic modules was RMB 2,648,812, up from RMB 2,252,522, indicating a growth of about 17.6% year-over-year [156]. - Revenue from construction and operation of photovoltaic power plants was RMB 79,681, compared to RMB 86,557, showing a decrease of approximately 8.0% [156]. - The company reported processing services revenue of RMB 715,762, which is an increase from RMB 613, indicating a growth of about 16.7% [156]. - Geographic revenue breakdown shows that Mainland China contributed RMB 2,720,350, while Japan contributed RMB 556,862, reflecting strong performance in these markets [158]. Cost and Expenses - Revenue cost for the period increased from approximately RMB 2,252.0 million in the first half of last year to approximately RMB 3,238.8 million, primarily due to revenue growth [14]. - The Group's administrative expenses rose to approximately RMB 115.8 million from RMB 80.3 million in the corresponding period of 2022, mainly due to increased staff costs and R&D investments [20]. - The cost of inventories sold for the six months ended June 30, 2023, was RMB 2,524,203,000, compared to RMB 2,167,405,000 in 2022, indicating an increase in costs [200]. - Research and development costs for the six months ended June 30, 2023, amounted to RMB 21,035,000, up from RMB 5,270,000 in the same period of 2022, highlighting increased investment in R&D [200]. - Salaries, wages, and other benefits increased to RMB 121,369,000 for the six months ended June 30, 2023, from RMB 105,157,000 in 2022, reflecting higher personnel costs [200]. Financing and Cash Flow - The Group's financing costs decreased from approximately RMB 45.0 million in the first half of 2022 to approximately RMB 35.8 million in the first half of 2023, a reduction of 20.4% [24]. - The net cash outflow from operating activities was approximately RMB1,330.8 million in the first half of 2023, compared to a net cash inflow of approximately RMB311.3 million in the same period of 2022 [48]. - The company reported a net cash flow from financing activities of RMB 576,874,000, up from RMB 80,438,000 in the previous period [112]. - The net cash flows generated from investing activities were RMB 405,202,000, compared to a net outflow of RMB 320,685,000 in the previous period [112]. - The company experienced a net foreign exchange gain of RMB 40,796,000 in the first half of 2023 [178]. Assets and Liabilities - The current ratio of the Group as of June 30, 2023, was 1.12, slightly up from 1.1 as of December 31, 2022 [48]. - The Group had net borrowings of approximately RMB713.2 million as of June 30, 2023, down from RMB1,913.3 million as of December 31, 2022 [48]. - Total non-current liabilities decreased from RMB 414,494,000 as of 31 December 2022 to RMB 382,657,000 as of 30 June 2023, a reduction of approximately 7.7% [84]. - Current assets decreased significantly to RMB 5,266,785,000 from RMB 6,732,819,000, representing a decline of 21.8% [106]. - Total current liabilities decreased to RMB 4,723,479,000 from RMB 6,117,099,000, a reduction of 22.8% [106]. Market and Strategic Initiatives - The Group anticipates broad development prospects for its Building Integrated Photovoltaics (BIPV) business, driven by national policies advocating for carbon neutrality and green building initiatives [2]. - The Group has established a direct supply relationship with large module customers, leveraging significant production capacity and cost advantages to maintain a stable product supply [8]. - The Group is well-prepared to meet the long-term prospects of the photovoltaic industry, driven by the transition to green energy and supportive government policies [31]. - The company is focused on expanding its market presence and enhancing its technological capabilities as indicated by its ongoing R&D investments and tax incentives [185][186]. - The company continues to explore new strategies for market expansion and product development in the renewable energy sector [164]. Employee and Operational Metrics - As of June 30, 2023, the number of employees in the Group increased to 3,512 from 3,029 as of December 31, 2022 [30]. - The inventory turnover days increased to 42 days during the period, up from 29 days as of December 31, 2022, due to increased production to meet sales orders [23]. - The Group's EBITDA from continuing operations was approximately RMB263.5 million, representing 7.6% of revenue, compared to RMB228.6 million or 9.7% of revenue in the corresponding period of 2022 [48]. - The company has identified four reportable segments for performance assessment, including photovoltaic modules, construction and operation of power plants, and semiconductor trading [164]. - The company has adopted new accounting standards, including HKFRS 17, which pertains to insurance contracts, with no material impact on the financial position or performance reported [120].

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。 Solargiga Energy Holdings Limited 陽 光 能 源 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：757） 截至二零二三年六月三十日止六個月的中期業績公佈 財務摘要 截至六月三十日止六個月 二零二三年 二零二二年 變動 人民幣百萬元 人民幣百萬元 （重列） 收益 3,472.6 2,362.9 +47.0% 持續經營業務之期間利潤 127.1 28.0 +353.9% 歸屬於母公司股東的持續經營 業務之期間利潤 99.9 7.8 +1,180.8% 歸屬於非控制性權益的持續經營業 務之期間利潤 27.2 20.2 +34.7% 歸屬於母公司股東之期間利潤 99.9 67.8 +47.3% ...

Financial Performance - In 2022, the Group's revenue reached RMB 6,869,362, a year-on-year increase of 48.2% from RMB 4,640,843 in 2021[27]. - The Group's profit attributable to owners of the parent for 2022 was RMB 957,108, compared to a profit of RMB 193,222 in 2021, marking a significant turnaround[27]. - Gross profit was RMB 271.3 million, with a gross profit margin of 3.9%[31]. - The Group's revenue reached RMB 6,869.4 million, representing a 48% year-on-year increase[31]. - Profit from discontinued operations increased significantly from RMB 237.1 million in 2021 to RMB 1,246.8 million in 2022 following the disposal of equity interest in Qujing Yangguang[137]. - Profit attributable to owners of the parent rose to RMB 957.1 million in 2022, compared to RMB 193.2 million in 2021, mainly due to the gain on the disposal of equity interest[137]. - The Group anticipates continued growth in external shipment volume and revenue due to strong customer demand and production cost reductions[131]. - The Group's administrative expenses increased to RMB 264.6 million in 2022 from RMB 138.4 million in 2021, primarily due to higher research and development investments[154]. - The Group's equity interest in Youhua Silicon was reduced from 100% to 53.7% following the disposal for approximately RMB 227.4 million completed on March 17, 2022[141]. - A special dividend of HKD 0.07 per ordinary share was proposed following the disposal, reflecting the Group's strong financial performance[1]. Production Capacity and Growth - The total installed capacity of photovoltaic products in China reached 288.7 GW in 2022, with a year-on-year increase of over 55%[20]. - The Group's annual production capacity for monocrystalline silicon ingots and wafers was 7.4 GW as of December 30, 2022[6]. - Module production capacity has been expanded to 8.2 GW as planned[31]. - The cumulative installed solar power capacity in China reached approximately 390 GW by the end of 2022, a year-on-year increase of 28.1%[40]. - The Group's total production capacity for monocrystalline silicon rods and wafers was 7.4 GW each, with module production capacity reaching 8.2 GW[75]. - The production capacity of monocrystalline silicon ingots in Qujing increased from 4.3 GW at the end of 2021 to 6 GW by the end of 2022, while monocrystalline silicon wafers increased from 2.5 GW to 4 GW[88]. - The Group's production line can produce large-size modules (182mm and 210mm) with conversion efficiencies exceeding 660 watts, enhancing product competitiveness[126]. - The Group plans to expand monocrystalline module production capacity to leverage favorable external production environments and meet rising demand[1]. - The Group is expanding production capacity of monocrystalline silicon modules to leverage current technological advantages and meet increasing demand[196]. Market Trends and Opportunities - The global export volume of photovoltaic products in 2022 reached a record high of US$51.25 billion, up 80.3% year-on-year[10]. - The International Energy Agency forecasts that global installed capacity of renewable energy generation will increase by 2,400 GW from 2022 to 2027, with solar and wind accounting for approximately 90% of this growth[11]. - The NEA set an annual target of approximately 490 GW of installed capacity for solar power generation in 2023, indicating strong future growth potential[20]. - The Group aims to capitalize on the photovoltaic industry's "golden age" and expand its business in BIPV and semiconductor product manufacturing[36]. - The expected explosive growth in the photovoltaic market post-grid parity presents significant opportunities for the Group[1]. - The global photovoltaic power generation capacity is expected to continue rapid growth in 2023, driven by supportive government policies and market competition[197]. - The Group aims to position itself as a leading supplier of monocrystalline photovoltaic modules, ready to capitalize on the anticipated explosive growth in market demand post-grid parity[198]. Government Policies and Support - The photovoltaic industry in China is supported by favorable government policies aimed at promoting carbon neutrality and renewable energy development[10]. - The NEA in China is promoting renewable energy development, targeting an annual generation of approximately 3.3 trillion kWh by 2025, with solar power expected to double[62]. - The BIPV segment is expected to become a new growth driver for the photovoltaic industry due to government support for green building initiatives[35]. - The Indian government approved a second phase of the Production Linked Incentive scheme worth up to US$2.4 billion to boost solar module manufacturing[44]. - The EU's REPowerEU plan aims to end reliance on Russian fossil fuels and accelerate solar energy growth, with solar expected to be a cornerstone of the EU's renewable energy transition by 2030[66]. - The Group's photovoltaic system business is expected to benefit from government policies promoting carbon neutrality and green building initiatives, indicating strong future growth potential[79]. Operational Efficiency and Management - Inventory turnover days remained stable at 29 days in 2022, compared to 26 days in 2021, as the Group focused on improving inventory management[137]. - Trade receivables turnover days decreased to 92 days in 2022 from 98 days in 2021, reflecting improved collection efficiency[137]. - Trade payables turnover days increased to 163 days in 2022 from 123 days in 2021, indicating a strategic approach to utilizing operating funds for business growth[137]. - The Group's current ratio improved to 1.1 from 0.84 in 2021, indicating better liquidity management[1]. - The net debt to equity ratio improved to -158.7% as of December 31, 2022, compared to 140.1% in 2021, indicating a strong financial position[1]. - The Group's employee count decreased to 3,029 as of December 31, 2022, down from 3,937 a year earlier[150]. Research and Development - The Group has obtained 287 national patents and received numerous awards, including being ranked 72nd among the TOP 100 Global Competitive Renewable Energy Enterprises[49]. - The Group's BIPV research and development line was established in cooperation with Southeast University to focus on zero-carbon buildings and BIPV technology[82]. - The Group has developed four series of BIPV products that have passed CCC, CQC, and GB8624-2012 certifications, and has obtained six patent authorizations for independently developed BIPV structural components[82]. - The Group's focus on high-efficiency N-type silicon products positions it well for future market demands, with industry-leading performance metrics[111]. - The Group has invested in upgrading existing production capacity and developing new low-cost, high-efficiency production capacity since 2018[90]. - The Group's advanced production technologies have significantly reduced production costs while ensuring product quality and stability, maintaining a leading position in the industry[100]. Challenges and Risks - The semiconductor business faced challenges in 2022 due to reduced customer orders and supply chain issues, but is expected to grow in the coming years as pandemic restrictions ease[58]. - Impairment losses on trade receivables and contract assets amounted to RMB 21.2 million in 2022, compared to a reversal of RMB 19.8 million in 2021, attributed to an increase in receivables aged over one year[154]. - The Group recognized impairment losses of RMB 43.0 million on property, plant, and equipment in 2022 due to the discontinuation of certain photovoltaic module productions[154]. - Finance costs decreased significantly from RMB 102.3 million in 2021 to RMB 78.8 million in 2022, with the Group aiming to further reduce these costs in the future[154]. - Income tax expense was RMB 16.3 million in 2022, down from RMB 47.0 million in 2021, mainly due to a decrease in assessable profit from certain profitable subsidiaries in Mainland China[154].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部分內容 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。 Solargiga Energy Holdings Limited 陽 光 能 源 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：757） 截至二零二二年十二月三十一日止年度的全年業績公佈 財務摘要 截至十二月三十一日止 二零二二年 二零二一年 變動 人民幣百萬 人民幣百萬 收益 6,869.4 4,640.8 +48.0% 歸屬於母公司股東的利潤 957.1 193.2 +395.4% 每股基本盈利 — 普通股 人民幣28.80分 人民幣5.84分 +393.2% ...