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].

Financial Performance - For the fiscal year ending December 31, 2023, the company's revenue was approximately RMB 2,219,336,000, an increase of about 50.73% compared to RMB 1,472,400,000 in 2022[13] - The net loss attributable to the parent company for the fiscal year was approximately RMB 11,555,000, a significant improvement from a net loss of RMB 78,122,000 in 2022[13] - Basic and diluted loss per share for the year was approximately RMB 0.02, compared to a loss of RMB 0.15 per share in 2022[13] - Gross profit rose significantly from approximately RMB 23,916,000 (1.62% gross margin) to approximately RMB 101,637,000 (4.58% gross margin) due to increased sales volume and improved product margins[25] - The total loss for the fiscal year was approximately RMB 3,325,000, a significant improvement from a loss of RMB 79,976,000 in the previous year, representing only 0.15% of total revenue[33] - The net loss attributable to the parent company's owners was approximately RMB 11,555,000, compared to RMB 78,122,000 in the previous year, with net loss rates of 0.52% and 5.31% respectively[34] Strategic Plans and Goals - The company plans to enhance its industrial chain layout and increase R&D investment to capture development opportunities in the water-saving irrigation sector[12] - The company aims to become a leading technology-driven agricultural enterprise with a valuation of over RMB 10 billion, focusing on modern agriculture and digital empowerment[14] - The company is committed to aligning with national policies and seizing opportunities for high-quality development in the agricultural sector[14] - The company emphasizes the importance of green and water-saving economies as new engines for global economic development[12] - The company is focused on expanding its marketing achievements and enhancing its product offerings in the irrigation sector[12] Operational Highlights - Engineering revenue surged by 175.20% to approximately RMB 1,045,367,000, while trading revenue decreased by 20.94% to approximately RMB 615,256,000[24] - Operating costs increased by approximately 46.20% to RMB 2,117,699,000, with direct material costs accounting for 74.24% of total operating costs[27] - Sales expenses slightly increased by 3.60% to approximately RMB 23,910,000, representing 1.08% of total revenue, down from 1.58% the previous year[28] - Management expenses rose by approximately 14.32% to RMB 51,386,000, accounting for 2.32% of total revenue, down from 3.05% the previous year[29] Acquisitions and Investments - The company has made strategic acquisitions, including a 51% stake in Shihezi Silk Road Tianyang Pre-mixed Concrete Co., Ltd., effective February 28, 2023[18] - The group agreed to acquire 100% equity of Beijing Tianye International Agricultural Engineering Technology Co., Ltd. for RMB 20,161,900, with shareholder approval received on January 15, 2024[47] - The group completed the acquisition of 51% equity in Shihezi City Silk Road Tianyang Ready-Mixed Concrete Co., Ltd. for RMB 15,647,200, with shareholder approval on February 3, 2023[55] - The company invested approximately RMB 20,786,000 in new factories and machinery during the year, along with RMB 2,554,000 in construction projects[139] Governance and Compliance - The board consists of seven directors, including three executive directors and four independent non-executive directors, ensuring a balanced governance structure[63] - The company has established three committees: the Remuneration Committee, Audit Committee, and Nomination Committee, to oversee various aspects of corporate governance[68] - The board has reviewed its corporate governance practices and found them effective as of December 31, 2023[68] - The company has adopted a standard code of conduct for securities trading, confirming compliance by all directors and supervisors for the reporting year[84] - The company has a structured nomination process for new directors, considering various factors such as experience, integrity, and diversity[89] Internal Control and Audit - The internal control system is effective and complies with national regulations and securities regulatory requirements, providing reasonable assurance for the company's management and financial reporting[199] - The audit committee held four meetings in the fiscal year ending December 31, 2023, with a 100% attendance rate from all members[95] - The company reported a good financial condition with a sound internal control system, reflecting its operational status and business results accurately[196] - The audit report issued by the accounting firm provided a standard unqualified opinion, indicating that the financial statements fairly represent the company's financial position as of December 31, 2023[200] Employee and Diversity Initiatives - The group employed a total of 407 employees as of December 31, 2023, an increase from 384 in 2022[49] - The company is committed to improving gender diversity in its workforce and aims to increase the representation of women at all levels[92] - Approximately 76% of the company's employees are male, while about 24% are female, indicating a gender diversity challenge in the agricultural sector[92] Shareholder Relations and Dividends - The board recommended not to declare any final dividend for the year ended December 31, 2023, consistent with 2022[57] - 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 and internal regulations[109] - The board of directors will consider the group's financial condition, liquidity, and any restrictions imposed by lenders when deciding on dividend distributions[110] Market Position and Risks - The company faced significant risks and uncertainties, which are discussed in detail in the management discussion and analysis section of the annual report[136] - The company is optimistic about the future development of the agricultural water-saving industry, which is expected to have a broad market outlook[198] - The company has been expanding its digital agriculture and agricultural service business segments[136]

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 ...

Financial Performance - For the year ended December 31, 2022, the company's revenue was approximately RMB 1,443,455,000, an increase of about 29.85% compared to RMB 1,111,618,000 in 2021[15]. - The net loss attributable to the parent company for the year was approximately RMB 78,176,000, compared to a net loss of RMB 66,836,000 in 2021[15]. - The basic and diluted loss per share for the year was approximately RMB 0.15, compared to a loss of RMB 0.13 in 2021[15]. - The total loss for the year ended December 31, 2022, was approximately RMB 80,420,000, compared to a loss of approximately RMB 62,845,000 the previous year, representing about 5.57% of total revenue[31]. - Net loss attributable to the owners of the parent company increased from approximately RMB 66,836,000 to approximately RMB 78,176,000, with net loss rates of approximately 5.42% and 6.01% for the respective years[32]. - Gross profit decreased from approximately RMB 69,253,000 (gross margin of 6.23%) to approximately RMB 20,755,000 (gross margin of 1.44%) due to lower gross margins from trade revenue[24]. - Operating costs increased by approximately 36.49% to about RMB 1,422,700,000 from RMB 1,042,365,000, with direct material costs accounting for approximately 39.59% of total operating costs[25]. - Trade revenue increased by 55.53% from approximately RMB 500,369,000 to approximately RMB 778,227,000, while engineering revenue rose by 69.24% from approximately RMB 224,452,000 to approximately RMB 379,856,000[22]. Strategic Focus and Development - The company is focusing on the national rural revitalization and food security strategy, implementing a "go global" development strategy[16]. - The company aims to achieve a "100 billion water-saving" target in 2023, emphasizing high-quality agricultural industry development[17]. - The company plans to enhance its comprehensive strength by providing full technical support and after-sales service to customers[17]. - The company is committed to promoting the construction of modern agricultural industry clusters and advancing the "Kang'er well" and "plain water cellar" projects[16]. - The company is adjusting its development direction in response to the severe pandemic situation and intense market competition in the water-saving irrigation industry[14]. - The company emphasizes innovation in finance, research, and models to achieve professional, intensive, and large-scale development[16]. - The company is implementing a comprehensive layout of "water, fertilizer, and salt" products and modern agricultural industry clusters[16]. - The company plans to transform from a "pure manufacturer" to a "comprehensive service provider" in the agricultural sector, focusing on a strategic development model that integrates products, engineering, and trade[37]. Corporate Governance - The board consists of seven directors, including three executive directors and four independent non-executive directors, ensuring a balanced governance structure[63]. - The board held a total of six meetings during the fiscal year ending December 31, 2022, with all directors present at each meeting[70]. - The company has established three committees: the remuneration committee, audit committee, and nomination committee, to oversee various aspects of corporate governance[68]. - The board has reviewed its corporate governance practices and found them to be effective as of December 31, 2022[68]. - Independent non-executive directors have confirmed their independence annually, with no director serving more than nine years in their role[63]. - The company emphasizes strict corporate governance practices to enhance credibility and transparency, thereby boosting shareholder confidence[61]. - The board is responsible for comprehensive strategic planning and development decisions, delegating daily operations to management[67]. - The company secretary maintains detailed records of board meetings, ensuring compliance with applicable laws and regulations[73]. - The board has mechanisms in place to obtain independent views and opinions, which are reviewed annually for effectiveness[65]. - The company held three shareholder meetings during the fiscal year to maintain ongoing dialogue with shareholders[70]. - The company has established a balanced distribution of power between the Chairman and the General Manager to ensure effective governance[75]. - All independent non-executive directors serve a term of three years, with re-election occurring at the annual general meeting[79]. - The company provided over 15 hours of relevant professional training to its company secretary during the fiscal year ending December 31, 2022[83]. - The Remuneration Committee held three meetings during the fiscal year, with all members achieving a 100% attendance rate[86]. - The Nomination Committee reviewed the nomination and appointment policies for new directors, ensuring alignment with the company's business strategy[92]. - The company has adopted a standard code of conduct for securities trading, confirming compliance by all directors and supervisors for the fiscal year[84]. - The company emphasizes the importance of diversity in the board composition, considering various factors such as education, experience, and gender[89]. - The Chairman encourages full participation from all directors in board meetings and committees[76]. - The company has implemented ongoing professional development programs for directors to enhance their knowledge and skills[80]. - The Remuneration Committee reviewed the remuneration policies and discussed the performance of executive directors during the fiscal year[88]. - The audit committee held four meetings during the year ended December 31, 2022, with all members attending 100% of the meetings[93]. - The external auditor, Tianjian, provided audit services amounting to RMB 750,000 for both 2021 and 2022, with no non-audit services rendered[97]. - The board of directors confirmed the effectiveness of the internal control system, with no significant deficiencies reported in risk management or compliance[100]. - The company has adopted a whistleblowing policy to encourage stakeholders to report any misconduct, ensuring confidentiality and fair handling of concerns[101]. - The company maintains a commitment to transparency, providing timely disclosures to shareholders and encouraging ongoing dialogue through various channels[105]. - Shareholders holding 10% or more of the issued shares can request a special general meeting, which the board must convene within two months of the request[106]. - The audit committee reviewed the financial reports and internal audit plans for the upcoming year, ensuring compliance and independence of the external auditor[95]. - The company’s internal audit manager prioritizes high-risk areas for audits, ensuring regular checks on financial and operational aspects[100]. - The audit committee's recommendations for the reappointment of the external auditor were accepted by the board[95]. - The company has established procedures for handling and disclosing insider information in compliance with relevant regulations[100]. Shareholder Relations and Dividends - The company will not distribute any final dividends for the year ended December 31, 2022, consistent with the previous year[56]. - The company aims to provide stable and sustainable returns to shareholders through its dividend policy, which is subject to approval by shareholders and must comply with Chinese company law[108]. - The board will review the dividend policy periodically, and there is no guarantee of recommending or declaring dividends in any given period[110]. - The financial status of the group includes considerations of liquidity and expected working capital needs, as well as any restrictions on dividend distribution imposed by lenders[110]. - The company did not recommend any dividend distribution for the year ending December 31, 2022, consistent with the previous year[134]. - The company has no distributable reserves for shareholders as of December 31, 2022, the same as the previous year[139]. Operational Insights - The company employed a total of 384 employees as of December 31, 2022, down from 527 in 2021[51]. - The company has no contingent liabilities as of December 31, 2022, consistent with the previous year[46]. - The company has been focusing on digital agriculture and agricultural service business layouts[133]. - The company is engaged in the design, manufacturing, and sales of drip irrigation systems and related components, as well as installation services[133]. - The company faced a decrease in the percentage of revenue from its largest customer compared to the previous year, which was 11.45%[140]. - The largest customer accounted for about 10.24% of the total revenue, while the top five customers represented approximately 23.05%[140]. - The company has not reported any changes in the board of directors as of December 31, 2022[130]. - The company has not disclosed any significant related party transactions during the year[140]. Financial Management and Compliance - The company has implemented strict financial management practices to ensure compliance with relevant accounting standards[184]. - The supervisory board actively participated in management decision-making and regularly reviewed financial statements to strengthen oversight[184]. - The company implemented key internal controls related to revenue recognition, evaluating their design and operational effectiveness[194]. - Monthly analysis of operating revenue and gross margin was conducted to identify significant fluctuations and their causes[194]. - The company assessed the reasonableness of inventory impairment provisions and management's past forecasts against actual results[196]. - Management's estimates of the net realizable value of inventory were reviewed, including the accuracy of calculations[196]. - The company ensured that information related to revenue and inventory impairment provisions was appropriately reported in the financial statements[196][198]. - Management is responsible for preparing financial statements in accordance with accounting standards, ensuring fair representation[198]. - The governance layer oversees the financial reporting process of the company[199]. - The audit opinion does not cover other information outside the financial statements[197]. - The company evaluated its ability to continue as a going concern, disclosing relevant matters as necessary[198]. - The audit aimed to provide reasonable assurance that the financial statements are free from material misstatement due to fraud or error[200]. Future Outlook - The future market outlook is promising, with plans to complete 1.1 million acres of new efficient water-saving irrigation construction tasks during the planning period[35]. - The company is optimistic about the future development of the agricultural water-saving industry, which is a national requirement with a broad market outlook[185]. - The company plans to continue its focus on high-standard farmland construction, which is expected to drive future growth[185].

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） （股份代號：840） 公告 — 截至二零二三年三月三十一日止 三個月的自願業績公告 摘要 本公司根據上市規則第13章自願作出本公告。董事會宣佈本集團截至二零二三年三月 三十一日止三個月的未經審核綜合業績。 截至二零二三年三月三十一日止三個月，歸屬於本公司所有者的未經審核綜合收益總 額約為人民幣488,000元。 ...

Financial Performance - Total revenue for the six months ended June 30, 2022, was approximately RMB 673,151,000, an increase of about 75.26% compared to RMB 384,095,000 for the same period last year[1] - The unaudited net loss for the six months ended June 30, 2022, was approximately RMB 23,812,000, compared to a net profit of RMB 751,000 for the same period last year[1] - Basic loss per share for the six months ended June 30, 2022, was approximately RMB 0.04719, compared to RMB 0.00025 for the same period last year[1] - The total operating costs for the six months ended June 30, 2022, were RMB 698,478,000, compared to RMB 387,286,000 for the same period last year[4] - The company reported a total profit of RMB (24,514) thousand for the six months ended June 30, 2022, compared to a loss of RMB (127) thousand in the same period of 2021[29] Revenue Breakdown - Revenue from drip irrigation pipes and accessories decreased to RMB 27,211 thousand from RMB 35,918 thousand, while PVC/PE pipe revenue fell to RMB 105,772 thousand from RMB 135,945 thousand[21] - Trade revenue surged from approximately RMB 51,182,000 to approximately RMB 427,746,000, accounting for 63.54% of total revenue, up from 13.33%[45] Expenses - Research and development expenses for the six months ended June 30, 2022, were RMB 3,729,000, an increase from RMB 2,509,000 for the same period last year[4] - The unaudited selling expenses for the six months ended June 30, 2022, were approximately RMB 16,863,500, a decrease of about 5.98% from RMB 17,936,000 in the previous year[46] - The unaudited administrative expenses decreased by approximately 8.44% to about RMB 19,046,000 from RMB 20,803,000 year-on-year[46] - The unaudited financial expenses increased by approximately 36.08% to about RMB 958,000, compared to a financial income of approximately RMB 704,080 in the previous year[46] Assets and Liabilities - Total assets as of June 30, 2022, were RMB 953,513,000, compared to RMB 964,976,000 as of December 31, 2021[10] - Total liabilities as of June 30, 2022, were RMB 448,233,000, compared to RMB 435,884,000 as of December 31, 2021[10] - The total amount of accounts payable as of June 30, 2022, was RMB 216,830,000, down from RMB 232,012,000 as of December 31, 2021[36] Cash Flow - Cash and cash equivalents as of June 30, 2022, were RMB 126,643,000, down from RMB 148,328,000 as of December 31, 2021[8] - The net cash flow from operating activities for the six months ended June 30, 2022, was RMB (36,171) thousand, an improvement from RMB (46,986) thousand in the same period of 2021[14] Shareholder Information - The company has a registered capital of RMB 519,521,560 and a total of 519,521,560 shares issued[16] - Xinjiang Tianye Company holds 202,164,995 shares, representing approximately 63.75% of the total issued domestic shares[66] - Xinjiang Tianye Holdings owns about 35.23% of the total issued domestic shares with 111,721,926 shares[66] - Changmao Holdings owns 14,407,000 H shares, accounting for approximately 7.12% of the total issued H shares[70] - The total number of issued shares for the company is 519,521,560, including both domestic and H shares[69] Corporate Governance - The company has complied with the Corporate Governance Code during the six months ending June 30, 2022[74] - The audit committee reviewed the accounting principles and internal controls during the reporting period[73] - The company has adopted a standard code for securities trading for its directors and supervisors[75] - There are no provisions in the company's articles of association regarding preemptive rights for existing shareholders[76] Future Plans and Strategy - The company plans to acquire a 51% stake in Shihezi Silk Road Tianyang Precast Concrete Co., Ltd., making it a subsidiary[61] - A new wholly-owned subsidiary, Xinjiang Tianye Modern Agricultural Technology Co., Ltd., was established to engage in the production and sales of water-saving equipment and engineering services, expanding the company's market reach[62] - The company aims to focus on cost reduction and efficiency improvement while aligning with national agricultural development strategies, including the construction of high-standard farmland and water-saving irrigation facilities[51][52] Employee Information - Employee benefits expenses related to retirement plans amounted to approximately RMB 6,124,000 for the six months ended June 30, 2022, reflecting the company's commitment to employee welfare[58] - The company has approximately 540 full-time employees, emphasizing the importance of employee quality for business growth and profitability[57] Financial Stability - The company has not encountered any liquidity issues during the reporting period, relying primarily on cash generated from operations for funding[53] - There are no significant contingent liabilities reported as of June 30, 2022, indicating a stable financial position[54] - The company does not face significant foreign exchange risks as its operations are primarily conducted in RMB, mitigating currency mismatch concerns[56] Other Information - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2022, consistent with the previous year[1] - The company recorded no asset impairment losses for the six months ended June 30, 2022, compared to RMB 3,305,000 in the same period last year[48] - The company reversed credit impairment losses of RMB 15,000 for the six months ended June 30, 2022, compared to no reversals in the previous year[49] - The company has committed capital expenditures of RMB 1,011,000 for property, plant, and equipment acquisitions as of June 30, 2022, compared to RMB 926,000 at the end of the previous year[37] - The company's capital debt ratio as of June 30, 2022, was 11.68%, an increase from 8.21% as of December 31, 2021, indicating a higher reliance on debt financing[53] - No purchases, sales, or redemptions of the company's listed securities occurred during the six months ending June 30, 2022[79] - The company has not reported any significant events after the six months ending June 30, 2022[77]

Financial Performance - The company reported an unaudited consolidated loss attributable to owners of approximately RMB 11,529,000 for the three months ended March 31, 2022[2]. - Total operating revenue for the same period was RMB 256,291,000, a significant increase from RMB 141,017,000 in the previous year, representing an 82% year-over-year growth[4]. - Total operating costs increased to RMB 268,313,000 from RMB 143,525,000, indicating a rise of 87% year-over-year[4]. - The company recorded a net loss of RMB 11,382,000 for the three months ended March 31, 2022, compared to a net loss of RMB 2,312,000 in the same period last year[6]. - Basic and diluted earnings per share were both reported at -0.0222, compared to -0.0053 in the previous year[6]. - The revenue from drip irrigation belts and accessories decreased to RMB 10,721,000 from RMB 13,462,000 year-over-year[11]. Strategic Initiatives - The company aims to enhance its overall strength and competitive advantage by focusing on "products + agricultural services + engineering + trade" in 2022[13]. - The government is expected to play a major role in funding high-standard farmland construction, which presents a significant market opportunity for the company[13]. - The company plans to expand its engineering business in southern Xinjiang and mainland China, as well as actively promote trade growth[13]. Corporate Governance - The company has a registered capital of RMB 519,521,560 and a total of 519,521,560 shares outstanding[8]. - The board of directors consists of three executive directors and four independent non-executive directors[15]. - The chairman of the board is Mr. Li He[15]. - The board includes Mr. Huang Dong and Mr. Tan Xinmin as executive directors[15]. - Independent non-executive directors include Mr. Li Lianjun, Mr. Yin Feihu, Ms. Gu Li, and Mr. Hong Weide[15]. - The company is based in Xinjiang, China[15]. Announcement Details - The announcement is dated April 20, 2022[15]. - The announcement does not provide specific financial data or performance metrics[15]. - No future outlook or strategic initiatives are mentioned in the provided content[15]. - The document primarily focuses on the composition of the board of directors[15].