近日，天业节水公司职工自主开垦的"绿色菜园"迎来首轮丰收，原本杂草丛生的闲置荒地经过数月精心 打理，现已结满黄瓜、小白菜、茼蒿等时令蔬菜，不仅成为展现团队协作与生态理念的示范窗口，更 以"降本增效"的实际成果为职工生活增添新活力。 目前菜园内生机盎然：黄瓜藤蔓缀满翠绿果实，小白菜叶片肥嫩青翠，茼蒿清香扑鼻。丰收期间，职工 们分批采摘新鲜蔬菜，部分用于食堂加工，部分由参与者共享，真正实现"从田间到餐桌"的零距离绿色 供给。通过自产蔬菜替代部分采购需求，每月可节省食堂成本约15%，同时减少运输环节的碳排放，实 现经济效益与生态效益双提升。 劳动教育润人心 勤俭理念入日常 闲置荒地焕新颜 资源盘活显成效 年初，为响应绿色环保号召，单位组织职工利用业余时间对院内闲置地块开展整治。大家分工协作，翻 土整地、播撒种子、搭建藤架，将300余平方米荒地打造成标准化菜园。职工们轮流参与浇水、除草等 日常维护，既减少人工支出，又增强团队凝聚力，让"劳动实践角"成为凝聚团队合力的新载体。 降本增效双丰收 绿色供给惠职工 "亲手播种到收获的过程，让我体会到'粒粒皆辛苦'的真谛。"职工代表张师傅捧着黄瓜感慨道。菜园建 设不仅丰富了业余 ...

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately RMB 1,498,562,000, a decrease of about 32.44% compared to RMB 2,218,204,000 for the fiscal year ending December 31, 2023[14]. - The net loss attributable to the parent company for the fiscal year ending December 31, 2024, was approximately RMB 39,536,000, compared to a net loss of RMB 7,358,000 for the fiscal year ending December 31, 2023[14]. - Basic and diluted loss per share for the year was approximately RMB 0.08, compared to a loss of RMB 0.01 for the fiscal year ending December 31, 2023[14]. - Trade revenue decreased by 18.48% from approximately RMB 615,256,000 to approximately RMB 501,560,000, while engineering revenue fell by 44.64% from approximately RMB 1,044,235,000 to approximately RMB 578,052,000[19]. - Gross profit decreased from approximately RMB 102,420,000 (gross margin of 4.62%) to approximately RMB 50,433,000 (gross margin of 3.37%) due to reduced income from certain engineering projects[20]. - Operating costs for the year ended December 31, 2024, were approximately RMB 1,448,129,000, down about 31.56% from RMB 2,115,783,000 for the previous year[21]. - Net loss for the year ended December 31, 2024, was approximately RMB 44,799,000, compared to a net loss of approximately RMB 6,266,000 for the same period last year[26]. - The company's revenue for the year ended December 31, 2024, was approximately RMB 1,498,562,000, a decrease of about 32.44% compared to RMB 2,218,204,000 for the year ended December 31, 2023[19]. - The company reported a net loss of RMB 147,078,350.04, an improvement from a loss of RMB 160,843,946.80 in the previous year[180]. - The total comprehensive income for the fiscal year 2024 was 13,765,596.76 RMB, a recovery from a loss of -19,255,086.52 RMB in the previous year, suggesting some improvement in overall financial health[188]. Strategic Initiatives - The company aims to enhance its product structure and adjust its business strategy while ensuring existing sales volume, focusing on technological innovation and project implementation in 2025[15]. - The company plans to actively expand its market channels and innovate marketing models while adhering to a path of technological innovation and product structure adjustment[15]. - The company will leverage national water network projects and high-standard farmland construction opportunities to develop various water conservancy projects, including reservoir construction and land improvement[15]. - The company is committed to becoming a comprehensive service provider for modern water-saving agriculture, focusing on five major business sectors: plastic product R&D and production, water conservancy engineering, plastic product sales, land transfer, and smart agricultural information networks[16]. - The company will continue to deepen its focus on the "modern agriculture" sector as part of its strategic development plan[16]. Governance and Compliance - The board consists of seven directors, including three executive directors and four independent non-executive directors, ensuring a balanced governance structure[46]. - The group has established three committees (Remuneration, Audit, and Nomination) to oversee various aspects of corporate governance[49]. - The group has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange listing rules for the year ending December 31, 2024[44]. - The board confirms its responsibility for preparing the group's accounts, ensuring accuracy and compliance with auditing standards[75]. - The company has maintained compliance with all relevant laws and regulations without any significant violations during the reporting period[131]. Human Resources - The group employed a total of 500 employees as of December 31, 2024, an increase from 407 employees in 2023[38]. - Approximately 75% of the group's employees are male, while about 25% are female, indicating a gender diversity challenge in the workforce[67]. Financial Position - The company's current ratio and quick ratio were approximately 1.43 and 1.07, respectively, as of December 31, 2024[30]. - The company's capital expenditure related to the acquisition of properties, plants, and equipment was approximately RMB 574,000, consistent with the previous year[32]. - The debt-to-equity ratio as of December 31, 2024, was 15.83%, slightly up from 15.55% in the previous year[33]. - Total current assets amounted to RMB 1,021,449,372.56, a slight decrease of 0.45% from RMB 1,025,913,660.44 at the end of the previous year[164]. - Total assets reached RMB 1,232,947,050.30, a decrease of 1.30% from RMB 1,249,254,163.22 at the end of the previous year[172]. - Total liabilities increased to RMB 822,938,882.22, up 6.38% from RMB 773,547,489.16 year-over-year[172]. - Total equity decreased to RMB 410,008,168.08, down 13.83% from RMB 475,706,674.06 at the end of the previous year[173]. Audit and Internal Control - The audit report issued by Lixin Certified Public Accountants confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2024, and its operating results for the fiscal year 2024[145]. - The company has established a comprehensive internal control system that meets national regulations and effectively manages key operational areas[144]. - The auditors assess the appropriateness of accounting policies selected by management and the reasonableness of estimates and disclosures made[160]. - The audit procedures include testing the accuracy of management's calculations related to inventory impairment and evaluating the reasonableness of cost estimates associated with inventory[155]. Shareholder Relations - The board of directors encourages continuous dialogue with shareholders and ensures that all directors make efforts to attend shareholder meetings[76]. - The company aims to provide stable and sustainable returns to shareholders through its dividend policy, which is subject to various factors including compliance with Chinese company law[81]. - The company reported no dividends for the fiscal year ending December 31, 2024, consistent with the previous year[97]. - Shareholders holding 10% or more of the issued shares can request the board to convene an extraordinary general meeting within two months[79].

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately RMB 1,498,562,000, a decrease of about 32.44% compared to RMB 2,218,204,000 in 2023[3]. - The net loss attributable to the parent company for the year was approximately RMB 39,536,000, compared to a net loss of RMB 7,358,000 in 2023[3]. - Basic and diluted loss per share for the year was approximately RMB 0.08, compared to a loss of RMB 0.01 in 2023[6]. - Total operating costs for the year were approximately RMB 1,550,051,248, compared to RMB 2,216,522,358 in the previous year[5]. - The company reported a total comprehensive loss of RMB 44,798,789 for the year, compared to a loss of RMB 6,265,677 in the previous year[6]. - The company experienced a significant increase in financial expenses, which rose to RMB 4,025,619 from RMB 1,621,993 in the previous year[5]. - The company reported a net asset acquisition of -¥31,487.17, with goodwill amounting to ¥31,488.17[47]. - The company reported a credit impairment loss of -¥7,773,581.84, compared to a gain of ¥205,371.78 in the previous year[52]. - The total income tax expense for the current period was ¥5,214,888.35, down from ¥7,255,768.32 in the previous year, representing a decrease of about 28%[53]. - The basic earnings per share (EPS) for the year ended December 31, 2024, is -0.08, compared to -0.01 in the previous period, reflecting a significant decline in net profit attributable to shareholders of -39,535,871.71[55]. - The net loss for the year ending December 31, 2024, was approximately RMB 44,799,000, compared to a net loss of RMB 6,266,000 for the previous year, representing a loss margin of about 3.00%[80]. - The net loss attributable to the owners of the parent company was approximately RMB 39,536,000, compared to RMB 7,358,000 for the previous year, with loss margins of 2.64% and 0.33% respectively[81]. Assets and Liabilities - The company's total assets as of December 31, 2024, amounted to RMB 1,232,947,050, a decrease from RMB 1,249,254,163 at the end of the previous year[7]. - Total liabilities amounted to RMB 822,938,882.22, an increase from RMB 773,547,489.16 at the end of the previous year, representing a growth of 6.4%[8]. - Current liabilities totaled RMB 715,947,792.19, slightly decreased from RMB 723,625,607.87, while non-current liabilities increased significantly from RMB 49,921,881.29 to RMB 106,991,090.03[8]. - The company's equity attributable to shareholders decreased to RMB 381,717,665.12 from RMB 441,383,001.27, reflecting a decline of 13.5%[8]. - The company has a total outstanding bank loan of RMB 64,892,000 as of December 31, 2024, down from RMB 73,972,000 in 2023[86]. - The total accounts payable at the end of the period is 452,530,564.05, an increase from 439,958,267.49 at the beginning of the year[71]. - The total tax payable at the end of the period is 7,643,636.04, significantly higher than 4,959,317.44 at the beginning of the year[72]. Cash Flow and Financial Management - Cash and cash equivalents increased to RMB 422,324,054 from RMB 342,509,536 at the end of the previous year[7]. - The company has established a financial policy to optimize cash flow and ensure timely repayment of debts[92]. - The current ratio and quick ratio are approximately 1.43 and 1.07 respectively as of December 31, 2024, compared to 1.42 and 1.00 in 2023[88]. - The company's capital debt ratio is 15.83% as of December 31, 2024, slightly up from 15.55% in 2023[91]. Operational Highlights - The company has a production capacity of 6 million tons of drip irrigation materials annually, positioning itself as a leading one-stop service provider in the water-saving irrigation sector[10]. - The company has included 17 subsidiaries in its consolidated financial statements, indicating a broad operational scope[12]. - The company plans to focus on technological innovation and project implementation in 2025, optimizing product structure and adjusting operational strategies[83]. - The company aims to enhance its core competitiveness through increased R&D investment and the establishment of a professional R&D team[83]. - The market outlook is positive, with the government prioritizing water-saving industries and investing over RMB 100 billion to support modernization of irrigation areas[82]. Accounting Policies and Compliance - The company’s financial statements were approved by the board on March 28, 2025, ensuring compliance with relevant regulations[11]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting[17]. - The company will implement the new accounting standard "Interpretation No. 17" starting from January 1, 2024, which will not have a significant impact on its financial position and operating results[24]. - The company will make necessary adjustments to align the accounting policies and periods of subsidiaries with its own when preparing consolidated financial statements[23]. - The company has not made any significant changes to its accounting estimates during the reporting period[33]. - The company has not reported any significant changes in its accounting policies during the reporting period[34]. Taxation and Incentives - The company has obtained a high-tech enterprise certificate valid for three years, allowing it to enjoy a reduced corporate income tax rate of 15% for the 2024 fiscal year[38]. - The company’s subsidiaries, including Gansu Tianye and Aksu Tianye, will also benefit from a 15% corporate income tax rate in 2024 due to compliance with the western development tax incentive policy[38]. - The company’s subsidiaries are eligible for a tax reduction policy for small and micro enterprises, allowing a 20% tax rate on income exceeding 100,000 but not exceeding 300,000[37]. - The company has no profits generated in Hong Kong, thus no need to pay Hong Kong profits tax[54]. Employee and Governance - The company employed a total of 500 employees as of December 31, 2024, an increase from 407 in 2023[96]. - The board of directors includes three executive directors: Chairman Zhou Gang, Han Gen, and Jiang Dayong[112]. - There are four independent non-executive directors: Li Lianjun, Gu Li, Hong Weide, and He Xinlin[112].

Financial Performance - The total revenue for the six months ended June 30, 2024, was approximately RMB 1,017,421,000, an increase of about 9.58% compared to RMB 928,462,000 for the same period last year[1] - The unaudited net profit for the six months ended June 30, 2024, reached approximately RMB 13,857,000, compared to RMB 7,613,000 for the same period last year[2] - The basic earnings per share for the six months ended June 30, 2024, was approximately RMB 0.0317, compared to RMB 0.00966 for the same period last year[4] - Total revenue for the six months ended June 30, 2024, was RMB 1,017,421,000, an increase from RMB 928,462,000 in the same period of 2023, representing a growth of approximately 9.6%[12] - The net profit attributable to the parent company for the six months ended June 30, 2024, was approximately RMB 16,487,000, a substantial increase from RMB 5,020,000 in the same period of 2023, indicating a growth of about 228.5%[17] - Basic earnings per share for the six months ended June 30, 2024, was RMB 0.0317, compared to RMB 0.0097 for the same period in 2023[17] Operating Costs and Expenses - The total operating costs for the six months ended June 30, 2024, were RMB 1,001,086,000, compared to RMB 928,477,000 for the same period last year[3] - Selling expenses for the six months ended June 30, 2024, were approximately RMB 8,284,000, down about RMB 4,881,000 or 37.08% from RMB 13,165,000 in the previous year[33] - Administrative expenses increased to approximately RMB 27,077,000, up about RMB 5,144,000 or 23.45% from RMB 21,933,000 in the previous year[33] - The net financial expenses for the six months ended June 30, 2024, were approximately RMB 1,388,000, compared to a net financial income of approximately RMB (111,000) in the previous year[33] - The gross profit for the same period was approximately RMB 58,598,000, with a gross margin of about 5.76%, up from RMB 39,062,000 and a gross margin of 4.21% in the previous year, indicating a margin increase of approximately 1.55%[32] Cash Flow and Financial Position - Cash flow from operating activities for the six months ended June 30, 2024, was RMB 74,064,000, compared to a negative cash flow of RMB 60,277,000 for the same period last year[8] - The total assets as of June 30, 2024, amounted to RMB 1,417,829,000, compared to RMB 1,219,950,000 as of December 31, 2023[5] - The total liabilities as of June 30, 2024, were RMB 948,057,000, compared to RMB 769,279,000 as of December 31, 2023[6] - The company's capital debt ratio as of June 30, 2024, is 11.49%, down from 16.34% on December 31, 2023, indicating improved financial stability[39] - The company has no significant contingent liabilities as of June 30, 2024, reflecting a strong risk management position[40] Revenue Breakdown - Revenue from PVC/PE pipes increased significantly to RMB 161,552,000, up from RMB 115,899,000, marking an increase of about 39.3% year-over-year[12] - Installation service revenue surged to RMB 416,650,000, compared to RMB 266,857,000 in the previous year, reflecting a growth of approximately 56.0%[12] - Trade revenue decreased from approximately RMB 462,623,000 to RMB 390,258,000, accounting for 49.83% to 38.36% of total revenue[32] Accounts Receivable - The company reported a significant increase in accounts receivable, which rose to RMB 227,572,000 from RMB 158,278,000[5] - Accounts receivable as of June 30, 2024, totaled RMB 292,507,000, an increase from RMB 223,213,000 as of December 31, 2023, representing a rise of approximately 31.1%[19] Corporate Governance and Compliance - The company has complied with the corporate governance code during the six months ending June 30, 2024[54] - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed internal controls and financial reporting matters[53] - The company has adopted the standard code of conduct for securities trading and all directors and supervisors have confirmed compliance during the reporting period[55] - There are no provisions in the company's articles of association or Chinese law regarding preemptive rights for existing shareholders when new shares are issued[56] Employee and Shareholder Information - The company has a total of approximately 407 full-time employees as of June 30, 2024, emphasizing the importance of employee quality for business growth[42] - The major shareholder, Xinjiang Tianye (Group) Co., Ltd., holds 98.98% of the domestic shares and 60.42% of the total issued share capital as of June 30, 2024[48] - Longmao Holdings owns 14,407,000 H shares, representing approximately 7.12% of the total issued H shares of the company[50] - The total issued share capital of the company is 519,521,560 shares, including domestic shares and H shares[50] - The ownership percentage of Longmao Holdings in the total issued share capital is approximately 2.77%[50] - Mr. Ding Wei is the sole owner of Longmao Holdings and is considered to have an interest in the 14,407,000 H shares held by Longmao Holdings[51] - Ms. Wang Bing, as Mr. Ding's spouse, is also considered to have an interest in the 14,407,000 H shares held by Longmao Holdings[51] Strategic Initiatives - The company plans to continue increasing investment in water-saving irrigation technology research and development to maintain industry leadership[38] - The company is focusing on expanding its agricultural supply chain layout, particularly in digital agricultural services and agricultural trade logistics[38] - The company aims to enhance core competitiveness through deepening industry-academic-research cooperation and accelerating technology transformation[38] Dividend Policy - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[1] - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[18] Asset Management - The company recorded no asset impairment losses for the six months ended June 30, 2024, and the same for the previous year[34] Equity Transactions - The company has entered into a conditional equity transfer agreement to acquire 100% of Beijing Tianye International Agricultural Engineering Technology Co., Ltd. for RMB 20,161,900 as of November 30, 2023[46] - There were no purchases, sales, or redemptions of any listed securities by the company or its subsidiaries during the six months ending June 30, 2024[57]

Financial Performance - For the six months ended June 30, 2024, total revenue was approximately RMB 1,017,421,000, an increase of about 9.58% compared to RMB 928,462,000 for the same period last year[1]. - The unaudited net profit for the six months ended June 30, 2024, reached approximately RMB 13,857,000, up from RMB 7,613,000 in the same period last year[2]. - The unaudited net profit attributable to the owners of the parent company for the six months ended June 30, 2024, was approximately RMB 16,487,000, compared to RMB 5,020,000 for the same period last year[2]. - Basic earnings per share for the six months ended June 30, 2024, were approximately RMB 0.0317, compared to RMB 0.00966 for the same period last year[3]. - The total operating costs for the six months ended June 30, 2024, were RMB 1,001,086,000, compared to RMB 928,477,000 for the same period last year[2]. - The company reported a total comprehensive loss of RMB 4,663 thousand for the six months ended June 30, 2024, compared to a loss of RMB 22,050 thousand in the same period of 2023, indicating an improvement in financial performance[6]. - The company’s gross profit margin for the six months ended June 30, 2024, was impacted by a decrease in sales of drip irrigation products, which totaled RMB 33,274 thousand, down from RMB 41,990 thousand in the same period of 2023[11]. - The company’s income from installation services significantly increased to RMB 416,650 thousand for the six months ended June 30, 2024, compared to RMB 266,857 thousand in the same period of 2023, reflecting a growth of approximately 56%[11]. - The unaudited gross profit for the six months ended June 30, 2024, reached approximately RMB 58,598,000, with a gross margin of about 5.76%, compared to RMB 39,062,000 and 4.21% in the same period last year, reflecting an increase of approximately 1.55% in gross margin[29]. - Trade revenue decreased from approximately RMB 462,623,000 in the same period last year to about RMB 390,258,000, accounting for 49.83% of total revenue, down to 38.36%[29]. - The unaudited net profit attributable to the owners of the parent company for the six months ended June 30, 2024, was approximately RMB 16,487,000, compared to RMB 5,020,000 in the same period last year, primarily due to increased gross profit from engineering projects and products[33]. Cash Flow and Assets - Net cash flow from operating activities for the six months ended June 30, 2024, was RMB 74,064 thousand, compared to a negative cash flow of RMB (60,277) thousand in the same period of 2023[7]. - The company’s cash and cash equivalents increased to RMB 417,649 thousand as of June 30, 2024, up from RMB 196,226 thousand at the end of June 30, 2023[7]. - The total assets as of June 30, 2024, amounted to RMB 1,417,829,000, an increase from RMB 1,219,950,000 as of December 31, 2023[4]. - Total liabilities as of June 30, 2024, were RMB 948,057,000, compared to RMB 769,279,000 as of December 31, 2023[5]. - The company reported a total of RMB 488,094,000 in accounts payable as of June 30, 2024, compared to RMB 436,695,000 as of December 31, 2023[4]. - The accounts receivable as of June 30, 2024, totaled RMB 292,507,000, an increase from RMB 223,213,000 as of December 31, 2023[19]. - The company has a provision for bad debts amounting to RMB 64,935,000, which represents 20.66% of total accounts receivable as of June 30, 2024[20]. - The company reported a bank balance of RMB 417,649,000 as of June 30, 2024, compared to RMB 196,226,000 for the same date in 2023[27]. Expenses and Investments - Research and development expenses for the six months ended June 30, 2024, were RMB 2,738,000, compared to RMB 2,461,000 for the same period last year[2]. - The company incurred a corporate income tax expense of RMB 4,334 thousand for the six months ended June 30, 2024, compared to RMB 600 thousand in the same period of 2023, indicating a higher taxable income[14]. - The company’s financing activities generated a net cash inflow of RMB 23,587 thousand for the six months ended June 30, 2024, compared to a net outflow of RMB (8,900) thousand in the same period of 2023[7]. - The company’s capital expenditure contracted but not provided for in the consolidated financial statements amounted to RMB 730,000 as of June 30, 2024, unchanged from December 31, 2023[23]. - The unaudited sales expenses for the six months ended June 30, 2024, were approximately RMB 8,284,000, a decrease of about RMB 4,881,000 or 37.08% compared to the same period last year[30]. Corporate Governance and Compliance - The company has complied with the corporate governance code during the six months ending June 30, 2024, with no known violations by the directors[50]. - The company has adopted a standard code for securities trading, and all directors and supervisors confirmed compliance during the six months ending June 30, 2024[51]. - The audit committee reviewed the accounting principles and practices adopted by the group and discussed internal controls and financial reporting matters, including the review of unaudited interim financial statements[49]. - There were no purchases, sales, or redemptions of any listed securities by the company or its subsidiaries during the six months ending June 30, 2024[53]. - The company does not have provisions regarding preemptive rights in its articles of association or under Chinese law[52]. - No conflicts of interest were reported among directors, supervisors, and senior management regarding the group's business during the six months ending June 30, 2024[48]. Strategic Focus and Future Plans - The company continues to focus on expanding its market presence in the irrigation systems sector, leveraging its capabilities in manufacturing and installation services[8]. - The company plans to enhance research and development investment in water-saving irrigation technology to maintain industry leadership and accelerate technology transformation[35]. - The company aims to expand its agricultural full industry chain layout, focusing on digital agricultural services and agricultural trade logistics[35]. Shareholding and Equity - As of June 30, 2024, Xinjiang Tianye (Group) Co., Ltd. holds 313,886,921 shares, representing approximately 98.98% of the total issued domestic shares and 60.42% of the total equity[44]. - The total number of issued shares is 519,521,560, which includes both domestic and H shares[45]. - Changmao Holdings Limited holds 14,407,000 H shares, accounting for approximately 7.12% of the total issued H shares and 2.77% of the total equity[46]. - The company and its subsidiaries did not engage in any arrangements for the purchase of shares or bonds by directors, supervisors, or senior management during the six months ending June 30, 2024[43]. - The company’s total equity attributable to owners increased to RMB 430,674 thousand as of June 30, 2024, from RMB 426,011 thousand at the beginning of the year[6].

Xinjiang Tianye Water Saving Irrigation 新疆天業節水灌溉股份有限公司 System Company Limited * 股份代號: 840 2 0 2 3 年 報 Annual Report 2023 二零二三年年報 Xinjiang Tianye Water Saving Irrigation System Company Limited 新疆天業節水灌溉股份有限公司 2 0 2 3 ANNUAL REPORT Stock Code: 840 Xinjiang Tianye Water Saving Irrigation 新疆天業節水灌溉股份有限公司 System Company Limited * 目錄 2 公司資料 4 主席報告書 6 管理層討論及分析 15 企業管治報告 28 董事、監事及高級管理層 34 董事會報告 49 監事會報告 52 審計報告 60 合併資產負債表（資產） 62 合併資產負債表（負債和所有者權益） 65 母公司資產負債表（資產） 67 母公司資產負債表（負債和所有者權益） 69 合併利潤表 72 母公司利潤表 74 合併現金流量表 78 ...

Financial Performance - For the year ended December 31, 2023, the total revenue was approximately RMB 2,219,336,000, an increase of about 50.73% compared to RMB 1,472,400,000 in 2022[3] - The net loss attributable to the parent company for the year was approximately RMB 11,555,000, a significant improvement from a net loss of RMB 78,122,000 in 2022[3] - Basic and diluted loss per share for the year was approximately RMB 0.02, compared to a loss of RMB 0.15 in 2022[3] - The total profit for the year ended December 31, 2023, was -3,325,238.78, compared to -79,976,042.29 in the previous year, indicating a significant improvement[50] - The basic earnings per share for the current period was -0.02, an improvement from -0.15 in the previous year[53] - The company reported a loss attributable to the parent company's ordinary shareholders of -11,554,963.31, an improvement from -78,122,417.92 in the previous year[53] Operating Costs and Expenses - Total operating costs for the year were approximately RMB 2,218,559,384.36, compared to RMB 1,530,021,305.77 in the previous year[5] - Selling expenses totaled RMB 23.91 million, a marginal increase of 3.6% from RMB 23.08 million in the previous year[47] - Management expenses increased to RMB 51.39 million, up 14.4% from RMB 44.95 million in the previous year[47] - Financial expenses for the current period were RMB 1.68 million, a decrease of 33.0% from RMB 2.51 million in the previous year[49] - The company incurred a total of RMB 19.66 million in asset impairment losses, down from RMB 22.93 million in the previous year, indicating a reduction of 14.3%[49] Assets and Liabilities - Cash and cash equivalents at the end of the year were RMB 340,794,909.54, up from RMB 238,772,242.82 at the end of the previous year[8] - Total assets as of December 31, 2023, amounted to RMB 1,219,949,729.65, compared to RMB 1,076,495,914.88 at the end of the previous year[8] - As of December 31, 2023, total liabilities amounted to RMB 769,279,427.37, an increase of 28.5% from RMB 599,239,867.59 at the end of the previous year[10] - Current liabilities totaled RMB 719,357,546.08, reflecting a significant increase of 32.8% compared to RMB 541,673,377.61 from the previous year[10] - The company's equity attributable to shareholders decreased to RMB 416,346,629.49, down 6.2% from RMB 444,024,279.72 at the end of the previous year[10] Revenue Breakdown - Revenue from engineering services amounted to RMB 1.05 billion, up from RMB 379.86 million in the same period last year, indicating a growth of 176.5%[46] - Engineering revenue increased by 175.20% to approximately RMB 1,045,367,000, while trading revenue decreased by 20.94% to approximately RMB 615,256,000[79] - Gross profit rose from approximately RMB 23,916,000 (gross margin of 1.62%) to approximately RMB 101,637,000 (gross margin of 4.58%) due to increased sales volume and improved product margins[81] Inventory and Receivables - The company experienced a decrease in inventory, which stood at RMB 258,129,517.76 compared to RMB 347,121,169.78 in the previous year[8] - The total accounts receivable at the end of the period was 223,213,258.76, with a net value of 158,278,023.98 after deducting bad debt provisions[55] - The aging analysis of accounts receivable showed that 101,043,813.85 was within one year, indicating a healthy collection period[55] Corporate Governance and Compliance - The financial statements were approved by the board on March 28, 2024, ensuring compliance with relevant accounting standards[13] - The company operates under the continuous operation basis, with no significant doubts regarding its ability to continue operations in the next 12 months[19] - The company adhered to the corporate governance code as per the Hong Kong Stock Exchange rules for the year ending December 31, 2023[113] - The audit committee reviewed the consolidated annual performance for the year ending December 31, 2023, including discussions on financial reporting and internal controls[119] Taxation and Accounting Policies - The corporate income tax rates applicable to various subsidiaries are as follows: 15% for Gansu Tianye, Akesu Tianye, Tiancheng Water Saving, and others; 20% for Kuitun Water Saving and others; and 25% for Silk Road Tianyang and Tianfu Ecology[36] - The company obtained a high-tech enterprise certificate on November 9, 2023, allowing it to enjoy a reduced corporate income tax rate of 15% for the 2023 fiscal year[39] - The company has implemented the accounting policy changes as per the "Interpretation No. 16 of the Accounting Standards for Enterprises," effective from January 1, 2023, regarding deferred income tax liabilities and assets[30] Mergers and Acquisitions - The company completed a merger with Shihezi City Silk Road Tianyang Pre-mixed Concrete Co., Ltd., acquiring a 51% equity stake for a total merger cost of approximately RMB 16.12 million[41] - The company completed the acquisition of 51% equity in Shihezi City Silk Road Tianyang Ready-Mixed Concrete Co., Ltd. for RMB 15,647,200, with the financial performance included in the consolidated financial statements[109] Employee and Shareholder Information - The company employed a total of 407 employees as of December 31, 2023, an increase from 384 in 2022[104] - The company did not recommend any dividend for the year ended December 31, 2023, consistent with the previous year[51] - The company has no plans to declare any final dividends for the year ended December 31, 2023[112] Future Outlook - The company aims to become a billion-level agricultural technology company focused on the entire water-saving agricultural industry chain[91] - The company plans to acquire 100% equity of Beijing Tianye International Agricultural Engineering Technology Co., Ltd. for RMB 20,161,900, with shareholder approval expected on January 15, 2024[102]

Financial Performance - Total revenue for the six months ended June 30, 2023, was approximately RMB 928,462,000, an increase of about 37.93% compared to RMB 673,151,000 for the same period last year[2] - The unaudited net profit for the six months ended June 30, 2023, reached approximately RMB 7,613,000, compared to a net loss of approximately RMB 23,812,000 for the same period last year[2] - Basic earnings per share for the six months ended June 30, 2023, was approximately RMB 0.00966, compared to a loss per share of RMB 0.04719 for the same period last year[6] - The company reported a total profit of RMB 5,020 thousand for the six months ended June 30, 2023, recovering from a net loss of RMB (24,514) thousand in the same period of 2022[25] - The corporate income tax expense for the six months ended June 30, 2023, was RMB 600 thousand, slightly up from RMB 511 thousand in the same period of 2022[23] - The company recorded a net profit attributable to the owners of the parent company of approximately RMB 5,020,000 for the six months ended June 30, 2023, compared to a net loss of approximately RMB 24,514,000 in the same period last year, primarily due to asset disposal gains and increased gross profit from engineering projects and products[48] Revenue Breakdown - Revenue from drip irrigation products and accessories increased to RMB 41,990 thousand in 2023 from RMB 27,211 thousand in 2022, representing a growth of 54.3%[21] - Trade revenue slightly decreased from approximately RMB 427,746,000 to RMB 462,623,000, accounting for 49.83% of total revenue, down from 63.54%[43] Operating Costs and Expenses - The total operating costs for the six months ended June 30, 2023, were RMB 928,477,000, compared to RMB 698,478,000 for the same period last year[4] - Unaudited selling expenses decreased by approximately RMB 3,698,500 or about 21.93%, from RMB 16,863,500 to RMB 13,165,000, mainly due to significant reductions in rental and unloading labor costs[44] - Unaudited administrative expenses increased by approximately RMB 2,887,000 or about 15.16%, from RMB 19,046,000 to RMB 21,933,000[44] - The company reported unaudited financial expenses of approximately RMB -111,000, a decrease of about RMB 1,069,000 or approximately 111.59% compared to RMB 958,000 in the previous year, primarily due to increased interest income[44] Assets and Liabilities - The company's total assets as of June 30, 2023, amounted to RMB 1,190,662,000, compared to RMB 1,029,410,000 as of December 31, 2022[8] - Current assets totaled RMB 958,194,000 as of June 30, 2023, compared to RMB 794,590,000 as of December 31, 2022[8] - The company's total liabilities as of June 30, 2023, were RMB 721,815,000, compared to RMB 582,613,000 as of December 31, 2022[9] - The company’s capital debt ratio as of June 30, 2023, was 16.34%, up from 11.68% as of December 31, 2022, indicating a slight increase in leverage[51] Cash Flow - The net cash flow from operating activities for the six months ended June 30, 2023, was RMB (60,277) thousand, compared to RMB (36,171) thousand for the same period in 2022, indicating a decline in operational cash flow[13] - The company’s financing activities resulted in a net cash outflow of RMB (8,900) thousand for the first half of 2023, compared to a net inflow of RMB 14,636 thousand in the same period of 2022[13] - The company’s investment activities generated a net cash inflow of RMB 26,657 thousand for the first half of 2023, a significant increase from RMB (150) thousand in the same period of 2022[13] - The company’s cash and cash equivalents decreased to RMB 196,226,000 as of June 30, 2023, from RMB 238,746,000 as of December 31, 2022[8] Dividend and Shareholder Information - The board of directors recommended not to declare an interim dividend for the six months ended June 30, 2023[2] - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2023, consistent with the previous year[26] - Major shareholders include Xinjiang Tianye Co., Ltd. holding approximately 63.75% of the domestic shares and Xinjiang Tianye (Group) Co., Ltd. holding approximately 35.23%[64] - Longmao Holdings Limited holds 14,407,000 H-shares, representing approximately 7.12% of the company's total issued shares[66] - The total number of issued shares for the company is 519,521,560, including domestic and H-shares[67] Employee and Governance - The company has approximately 381 full-time employees as of June 30, 2023, emphasizing the importance of employee quality for business growth and profitability[54] - The company has complied with the Corporate Governance Code as per the listing rules during the six months ending June 30, 2023[69] Investments and Acquisitions - The company completed the acquisition of 51% equity in Shihezi City Silk Road Tianyang Pre-mixed Concrete Co., Ltd. for RMB 15,647,200, approved by shareholders on February 3, 2023[61] - The company sold a batch of properties and equipment for RMB 26,608,400 to Xinjiang Tianye Co., Ltd., with the transaction approved by shareholders on March 31, 2023[61] - The company has no major investment plans as of June 30, 2023, indicating a focus on existing operations rather than new capital expenditures[58] Strategic Focus - The company aims to leverage opportunities in rural revitalization and agricultural development, focusing on water-saving digital agriculture services and expanding its business in modern agricultural industry clusters[49] - The company is committed to achieving higher quality, efficiency, and sustainable development through financial, research, and model innovations[49] Miscellaneous - There were no purchases, sales, or redemptions of the company's listed securities during the six months ending June 30, 2023[73] - The company did not have any mortgaged or secured assets during the six months ending June 30, 2023[74] - The company had no impairment losses for assets for the six months ended June 30, 2023, and the same period last year[46] - The company recorded a reversal of credit impairment losses of RMB 3.69 for the current period, compared to RMB 15,000 for the same period last year[47] - Accounts receivable increased from RMB 189,317,000 as of December 31, 2022, to RMB 251,569,000 as of June 30, 2023[29] - Accounts payable decreased slightly from RMB 333,094,000 as of December 31, 2022, to RMB 329,596,000 as of June 30, 2023[33]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性不發表任何聲明，並明確表示概不會就本公告全部或任何部份 內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 新 疆 天 業 節 水 灌 溉 股 份 有 限 公 司 XINJIANG TIANYE WATER SAVING IRRIGATION SYSTEM COMPANY LIMITED* （於中華人民共和國註冊成立的股份有限公司） 840 （股份代號： ） 有關(1)主要交易 — 增資協議 未能達成二零二二年度之收入保證；及 (2)截至二零二二年十二月三十一日止年度之年報之 補充公告 茲提述新疆天業節水灌溉股份有限公司（「本公司」，連同其子公司統稱為「本集團」） 截至二零二二年十二月三十一日止年度之年報（「二零二二年年報」）、本公司日期為 二零二一年六月二十一日有關增資協議之通函（「該通函」），以及本公司日期為二零 二二年十一月三日之補充公告（「該公告」）。除另有註明外，本公告所用詞彙與二零 二二年年報及該通函所界定者具有相同涵義。 除二零二二年年報第42及43頁「收入保證」一節所披露之資料外，董事會根據上市規 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不會就本公告全部或任何部份內容而 產生或因依賴該等內容而引致之任何損失承擔任何責任。 新 疆 天 業 節 水 灌 溉 股 份 有 限 公 司 XINJIANG TIANYE WATER SAVING IRRIGATION SYSTEM COMPANY LIMITED* （於中華人民共和國註冊成立的股份有限公司） （股份代號：840） 截至二零二三年六月三十日止六個月之中期業績公告 摘要 • 截至二零二三年六月三十日止六個月的營業總收入約為人民幣928,462,000元，較 去年同期約人民幣673,151,000元上升約37.93%。 • 截至二零二三年六月三十日止六個月未經審計的淨利潤達約人民幣7,613,000元， 去年同期淨虧損約為人民幣23,812,000元。截至二零二三年六月三十日止六個月未 經審計歸屬於母公司所有者的淨利潤達約人民幣5,020,000元，去年同期淨虧損約 24,514,000元。 • 截至二零二三年六月三十日止六個月的每股股份基本收益約為人民幣0.00966元（二 ...