Financial Performance - The total revenue for the year 2024 was approximately RMB 486.7 million, a decrease of about 4.3% compared to 2023[14]. - Revenue from knitted fabric products was RMB 112.9 million, accounting for 23.2% of total revenue, while revenue from lingerie products was RMB 371.4 million, making up 76.3%[8]. - The gross profit for 2024 was RMB 104.15 million, resulting in a gross margin of 21.4%[7]. - The company reported a loss before tax of RMB 13.0 million for the year, compared to a loss of RMB 2.3 million in 2023[7]. - Total revenue for the group decreased by approximately RMB 21.9 million or 4.3%, from RMB 508.6 million in the previous year to RMB 486.7 million[30]. - Revenue for the knitting fabric and underwear manufacturing business was approximately RMB 484.4 million with a gross profit of RMB 103.7 million, reflecting stable demand for high-quality sportswear and underwear[28]. - Knitting fabric sales decreased from RMB 136.6 million to RMB 112.9 million, accounting for 23.2% of total revenue, down from 26.9%[30]. - Underwear product sales remained stable at approximately RMB 371.4 million, representing 76.3% of total revenue, with a unit price increase of about 11.2% compensating for a decrease in sales volume[31]. - The group recorded a net loss of RMB 20.3 million for the year, compared to a net loss of approximately RMB 9.7 million in the previous year[43]. Assets and Liabilities - Total assets amounted to RMB 612.2 million, with total liabilities of RMB 348.3 million, resulting in a total equity of RMB 264.2 million[7]. - Cash and cash equivalents at the end of 2024 were RMB 250.6 million, down from RMB 270.1 million in 2023[7]. - The current ratio remained stable at 1.2, indicating consistent liquidity management[7]. - Trade receivables increased to approximately RMB 57.6 million, with an average collection period rising to about 39 days from 27 days[47]. - As of December 31, 2024, the group had fixed-rate bank loans and other loans amounting to RMB 85.0 million and RMB 54.4 million, respectively, compared to RMB 55.0 million and RMB 54.4 million in 2023[50]. Market and Economic Outlook - Revenue from the Chinese market was RMB 180.2 million, representing 37.0% of total revenue, while revenue from Japan was RMB 243.8 million, accounting for 50.1%[9]. - In 2024, China's GDP is projected to grow by 5.0%, with quarterly growth rates of 5.3%, 4.7%, 4.6%, and 5.4%[20]. - The total value of China's goods trade reached RMB 43.85 trillion in 2024, marking a 5% year-on-year increase[21]. - The textile and apparel export value from China is expected to reach USD 301.1 billion in 2024, reflecting a 2.8% year-on-year growth[21]. Strategic Initiatives - The company plans to optimize its product mix and strengthen supply chain management to maintain competitiveness in a challenging global economic environment[14]. - The company is focusing on enhancing risk management and financial flexibility to adapt to the changing market dynamics[14]. - The group will continue to focus on high-quality functional fabrics and lingerie business, aiming to expand its global marketing network and deepen cooperation with internationally renowned brands to capture more market opportunities[61]. - The group plans to optimize fabric product structure and increase investment in niche areas such as leisure lingerie, actively improving product quality to meet diverse customer demands[61]. Environmental, Social, and Governance (ESG) Efforts - The report aims to communicate with stakeholders and address their main expectations and concerns regarding sustainability[86]. - The group is committed to sustainable development policies and practices, as outlined in the report[86]. - The report includes performance data related to environmental, social, and governance (ESG) aspects[84]. - The company has established a governance framework for environmental, social, and governance (ESG) issues, ensuring a mature mechanism and processes for managing these responsibilities[92]. - The ESG working group has identified two significant risks: product quality risk and business concentration risk, with measures in place to mitigate their impact[98]. - The company emphasizes honest, equal, and transparent communication with stakeholders, enhancing its engagement channels[100]. - The group has established a quality management system to enhance quality control throughout the production process, adhering to various inspection standards[122]. Employee and Workplace Management - The total employee cost for the group was approximately RMB 157.5 million, an increase from RMB 150.0 million in 2023, with around 2,400 employees as of December 31, 2024[56]. - The group has established a diverse training program to support employee growth and self-actualization, aligning with the company's development[162]. - The group provides various employee benefits, including statutory holidays, paid annual leave, and medical insurance, ensuring fair promotion opportunities based on performance[164]. - The group has implemented measures to ensure the safe storage and handling of flammable materials, particularly during high-temperature conditions[170]. - The group has not experienced any significant labor disputes related to compensation, recruitment, or promotion that affected operations[167]. Environmental Impact and Compliance - The total greenhouse gas emissions during the reporting period amounted to 22,706.56 tons of CO2 equivalent[146]. - The company has established a "Waste Gas Emission Management Measures" to regulate measures for reducing waste gas emissions[146]. - The company has implemented various energy-saving measures, including replacing inefficient equipment and installing energy-efficient motors[155]. - The company has updated its hazardous waste emergency response plan to enhance its ability to handle incidents effectively[149]. - The company has conducted an environmental incident drill to improve emergency response capabilities among its teams[149].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 486.7 million, a decrease of 4.2% compared to RMB 508.6 million in 2023[3] - The gross profit for the same period was RMB 104.2 million, down from RMB 105.4 million in the previous year, reflecting a slight decline of 1.2%[3] - The company incurred a loss before tax of RMB 13.0 million, compared to a loss of RMB 2.3 million in 2023, indicating a significant increase in losses[3] - The net loss for the year was RMB 20.3 million, which is a 109.4% increase from the net loss of RMB 9.7 million in the prior year[3] - Basic and diluted loss per share was RMB 2.94, compared to RMB 0.32 in the previous year, showing a substantial increase in loss per share[3] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 409.1 million, slightly up from RMB 407.7 million in 2023[4] - The company's cash and bank balances decreased to RMB 250.6 million from RMB 270.1 million in the previous year, a decline of 7.5%[4] - Current liabilities increased to RMB 346.3 million from RMB 331.2 million, reflecting a rise of 4.5%[5] - The company's total equity decreased to RMB 264.2 million from RMB 282.5 million, a decline of 6.5%[5] Revenue Breakdown - Revenue from lingerie products was RMB 361,770,000 in 2024, slightly up from RMB 361,339,000 in 2023, indicating a growth of 0.1%[12] - Revenue from knitted fabrics decreased by 19.1% to RMB 82,774,000 in 2024 from RMB 102,283,000 in 2023[12] - The segment profit for lingerie products was RMB 28,746,000, while knitted fabrics reported a loss of RMB 5,539,000 for the year ended December 31, 2024[15] New Business Segments - The company began providing space measurement services and industrial drones after acquiring Youying Intelligent Technology (Shenzhen) Co., Ltd. in 2023, marking a new operational segment[13] - Revenue from space measurement services, industrial drones, and measurement robots was RMB 2,341,000 in 2024, compared to RMB 1,753,000 in 2023, reflecting a growth of 33.4%[15] Other Income and Expenses - Total other income for the year 2024 was RMB 9,504,000, a significant increase of 141% compared to RMB 3,941,000 in 2023[19] - The interest income from bank deposits decreased to RMB 945,000 in 2024 from RMB 1,033,000 in 2023, reflecting a decline of approximately 8.5%[19] - The net foreign exchange gain increased to RMB 6,594,000 in 2024, up 171% from RMB 2,429,000 in 2023[19] - Financing costs rose to RMB 10,529,000 in 2024, compared to RMB 5,779,000 in 2023, marking an increase of 82%[22] Tax and Dividends - The total tax expense for 2024 was RMB 7,305,000, slightly down from RMB 7,353,000 in 2023, a decrease of about 0.7%[23] - No dividends were declared or proposed for the year 2024, consistent with 2023[31] Trade Receivables and Payables - Trade receivables increased to RMB 65,595,000 in 2024 from RMB 48,884,000 in 2023, representing a growth of 34.2%[35] - The aging analysis of trade receivables shows that amounts overdue by 90 days or more rose to RMB 5,201,000 in 2024 from RMB 676,000 in 2023, indicating a significant increase in overdue receivables[36] - Trade payables decreased to RMB 54,932,000 in 2024 from RMB 64,353,000 in 2023, a decline of 14.8%[41] Market and Economic Outlook - The global economic growth rate for 2024 is projected at 3.2%, slightly lower than 2023, with China's GDP growth expected at 5.0%[43] - The total value of China's goods trade reached RMB 43.85 trillion in 2024, marking a year-on-year growth of 5%[44] - China's textile and apparel exports totaled USD 301.1 billion in 2024, with a year-on-year increase of 2.8%[44] Strategic Initiatives - The group is actively exploring new product application scenarios to broaden its potential customer base, particularly in the digital twin city and smart construction sectors[49] - The group aims to enhance operational efficiency through comprehensive participation in R&D, sales, daily operations, and financial management[49] - The company aims to expand its global marketing network and deepen collaborations with internationally renowned brands to capture more market opportunities in the quality functional fabric and lingerie business[82] Corporate Governance - The company emphasizes adherence to corporate governance codes to enhance accountability and transparency to shareholders[86] - The annual general meeting of shareholders is scheduled to be held on May 23, 2025[90] - The company has appointed Shinewing (HK) CPA Limited as its auditor for the review year[92]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 240,469,000, a slight decrease of 0.3% compared to RMB 241,217,000 for the same period in 2023[12]. - The company reported a loss before tax of RMB 11,443,000, compared to a loss of RMB 8,816,000 in the same period last year[12]. - The net loss for the six months ended June 30, 2024, was RMB 16,269,000, compared to a net loss of RMB 11,444,000 in the prior year, representing a 42% increase in losses[58]. - The group reported a loss before tax of RMB 11,443,000 for the six months ended June 30, 2024, compared to a loss of RMB 8,816,000 for the same period in 2023[82]. - The company reported a loss of approximately RMB 13,822,000 for the six months ended June 30, 2024, compared to a loss of RMB 9,485,000 for the same period in 2023, indicating an increase in loss of about 46.5%[91]. Profitability and Margins - Gross profit increased to RMB 52,473,000, representing a gross margin of 21.8%, up from 18.8% in the previous year[12][13]. - Gross profit for the same period increased to RMB 52,473 thousand, up 16.4% from RMB 45,258 thousand year-over-year[58]. - Gross margin improved from approximately 18.8% for the six months ended June 30, 2023, to approximately 21.8% for the same period in 2024[21]. Assets and Liabilities - Total assets decreased to RMB 606,867,000 from RMB 619,935,000 as of December 31, 2023[12]. - Current liabilities increased slightly to RMB 335,021,000 from RMB 331,238,000 as of December 31, 2023[12]. - The company’s equity attributable to owners decreased to RMB 255,996,000 from RMB 268,377,000, reflecting a decline in shareholder value[61]. - Total liabilities increased slightly to RMB 339,207,000 as of June 30, 2024, compared to RMB 337,447,000 as of December 31, 2023[84]. Cash Flow and Liquidity - The net cash and cash equivalents decreased to RMB 235,341,000 from RMB 270,118,000 as of December 31, 2023[12]. - Cash used in operating activities was RMB 24,771,000, a significant decrease from RMB 94,890,000 in the previous year[66]. - Cash and bank balances decreased to RMB 235,341,000 from RMB 270,118,000, reflecting a reduction in liquidity[60]. - Cash and cash equivalents decreased by RMB 34,919,000, with a balance of RMB 235,341,000 as of June 30, 2024[67]. Trade Receivables and Inventory - Trade receivables increased to approximately RMB 70.5 million as of June 30, 2024, due to increased sales activities and extended credit terms to domestic customers[30]. - Trade receivables rose significantly to RMB 69,275,000 from RMB 46,576,000, indicating improved sales performance or collection issues[61]. - Inventory balance increased to approximately RMB 73.8 million as of June 30, 2024, reflecting higher raw material purchases and finished goods due to anticipated sales growth in the second half of 2024[29]. Expenses - Selling and distribution expenses increased by approximately RMB 1.1 million to about RMB 10.2 million for the six months ended June 30, 2024, driven by increased sales volume of underwear products[23]. - Administrative expenses rose by approximately 29.2% to about RMB 54.8 million for the six months ended June 30, 2024, compared to RMB 42.4 million in 2023, mainly due to increased personnel costs and R&D expenses[24]. - Total employee costs, including directors' remuneration, amounted to RMB 80,227,000 for the six months ended June 30, 2024, up from RMB 72,408,000 in the previous year, reflecting an increase of approximately 10.3%[8]. Strategic Initiatives - The company is focusing on enhancing its digital capabilities to improve efficiency and reduce costs in the construction sector[15]. - The group is actively developing Youying's digital business in alignment with China's "Digital China" strategy, exploring market opportunities with government departments and partners[17]. - The company is focusing on the development of smart city infrastructure technology services, leveraging advanced technologies such as IoT, big data, and 5G[43]. - The company plans to increase resource investment and business innovation in the smart city sector to achieve a comprehensive strategic transformation[43]. Acquisitions and Investments - The group acquired Youying Intelligent Technology (Shenzhen) Co., Ltd., which focuses on data collection services and sales software and hardware, generating revenue of RMB 2.0 million in the first half of 2024, below expectations due to longer-than-anticipated technology development and integration processes[16]. - The company acquired 40% of Youying Intelligent Technology (Shenzhen) Co., Ltd. for a total consideration of RMB 74 million, which includes a cash payment of RMB 34 million and a deemed consideration of RMB 24 million based on a capital injection of RMB 40 million[72]. - The acquisition is expected to diversify the company's revenue sources and capitalize on the development opportunities in China's smart city market[72]. Market Outlook - The company anticipates a global economic growth rate of 3.2% for 2024, driven by strong exports and consumer spending in Asia, particularly in China and India[14]. - The digital twin technology market in China is projected to reach RMB 5.8 billion by 2029, with a compound annual growth rate of approximately 30%[41]. - The group aims to position itself as a leading provider of smart city high-tech infrastructure services, leveraging opportunities in digital twin technology[41]. Governance and Compliance - The company has adhered to corporate governance codes and standards throughout the reporting period[46]. - The Audit Committee has reviewed the unaudited interim results for the six months ending June 30, 2024[54].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 240,469,000, a slight decrease of 0.31% compared to RMB 241,217,000 for the same period in 2023[2] - The loss before tax for the period was RMB (11,443,000), compared to a loss of RMB (8,816,000) in the previous year, indicating a deterioration in performance[2] - The net loss for the period was RMB (16,269,000), compared to RMB (11,444,000) in the same period last year, reflecting a 42% increase in losses[2] - The group reported a loss before tax of RMB 11,443,000 for the six months ended June 30, 2024, compared to a loss of RMB 8,816,000 for the same period in 2023[12] - The basic and diluted loss per share for the six months ended June 30, 2024, was RMB 13,822,000, compared to RMB 9,485,000 for the same period in 2023, indicating an increase in loss[21] Revenue Breakdown - For the six months ended June 30, 2024, the total revenue was RMB 240,469,000, with external sales from lingerie products at RMB 183,009,000, knitted fabrics at RMB 55,420,000, and spatial measurement at RMB 2,040,000[12] - The revenue breakdown for the first half of 2024 shows knitted fabrics at RMB 55.42 million (23.0%), underwear products at RMB 183.01 million (76.1%), and spatial measurement at RMB 2.04 million (0.9%) of total revenue[34] - Revenue from lingerie products increased to approximately RMB 183.0 million, representing a growth of RMB 6.5 million or about 3.7%, and accounted for approximately 76.1% of total revenue[35] Cost and Profitability - Cost of sales decreased to RMB (187,996,000), down from RMB (195,959,000), resulting in a gross profit of RMB 52,473,000, an increase of 16% year-on-year[2] - Gross profit increased by approximately RMB 7.2 million or 15.9% to RMB 52.5 million, with the gross margin rising from 18.8% in 2023 to 21.8% in 2024[37] - The lingerie segment showed a loss of RMB 4,961,000, while the knitted fabrics segment generated a profit of RMB 7,586,000, and the spatial measurement segment incurred a loss of RMB 4,080,000[12] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 401,898,000, a slight decrease from RMB 407,694,000 as of December 31, 2023[4] - Current liabilities increased to RMB 335,021,000 from RMB 331,238,000, indicating a rise in short-term financial obligations[5] - The total liabilities as of June 30, 2024, were RMB 339,207,000, slightly up from RMB 337,447,000 as of December 31, 2023[13] - The total equity attributable to the owners of the company decreased to RMB 255,996,000 from RMB 268,377,000, reflecting a decline in shareholder value[5] Cash Flow and Liquidity - Cash and bank balances decreased to RMB 235,341,000 from RMB 270,118,000, showing a decline in liquidity[4] - The group's current ratio remained stable at approximately 1.2 as of June 30, 2024, with cash and cash equivalents at approximately RMB 235.3 million, down from RMB 270.1 million as of December 31, 2023[48] - The total cash outflow for leases was approximately RMB 3,412,000 for the six months ended June 30, 2024, compared to RMB 1,664,000 for the same period in 2023, indicating a 105% increase[26] Employee and Administrative Costs - Employee costs, including directors' remuneration, totaled RMB 80,227,000 for the six months ended June 30, 2024, compared to RMB 72,408,000 for the same period in 2023, reflecting an increase of 10%[19] - Administrative expenses increased by approximately 29.2% to about RMB 54.8 million, driven by higher employee compensation and R&D costs[40] Research and Development - The research and development costs recognized as expenses for the six months ended June 30, 2024, were RMB 4,382,000, significantly higher than RMB 1,227,000 for the same period in 2023, marking a 258% increase[19] Market and Growth Potential - The company anticipates strong revenue contributions from new products, including high-precision UAVs and 3D laser measurement robots, expected to launch in Q4 2024[32] - The construction information industry market size in China is expected to reach RMB 80.68 billion by 2025, reflecting the significant commercial potential of digital transformation in the construction sector[31] - The digital twin market in China is projected to reach RMB 5.8 billion by 2029, with a compound annual growth rate (CAGR) of approximately 30%[56] Corporate Governance and Transparency - The company has adhered to corporate governance codes and standards throughout the reporting period[60] - The audit committee has reviewed the group's interim results for the six months ending June 30, 2024, ensuring the adequacy and effectiveness of financial reporting and internal controls[62] - The interim report will be published on the Hong Kong Stock Exchange and the company's website, ensuring transparency for shareholders[63]

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 508,622,000, representing an increase of 8.4% from RMB 469,044,000 in 2022[6] - Gross profit for the same period was RMB 105,449,000, with a gross margin of 20.7%, slightly up from 20.6% in 2022[6] - The company reported a net loss of RMB 9,664,000 for the year, compared to a loss of RMB 156,000 in 2022[6] - The group's revenue for the year was approximately RMB 509 million, an increase of about 8.4% compared to 2022, with revenue from knitted fabrics and underwear products recorded at RMB 136.6 million and RMB 370.2 million respectively[17] - The functional fabric and lingerie manufacturing business achieved approximately 8.0% stable revenue growth during the year[37] - The company reported a loss before tax of approximately RMB 2.3 million, a decline from a profit of RMB 6.3 million in 2022, primarily due to increased administrative expenses and reduced other income[50] - The group recorded a loss of approximately RMB 9.7 million for the year, compared to a loss of about RMB 0.2 million for the previous year, primarily due to a decrease in profit before tax of approximately RMB 8.6 million[52] Revenue Sources - Revenue from lingerie products accounted for 72.8% of total revenue, increasing from 70.7% in the previous year, while fabric products contributed 26.9%[8] - Revenue from the Japanese market increased to RMB 226,873,000, representing 44.6% of total revenue, up from 41.8% in 2022[10] - Sales of knitted fabrics amounted to approximately RMB 136.6 million, accounting for 26.9% of total revenue, while sales volume increased to 4,670 tons from 4,483 tons in 2022[39] - Sales of lingerie products reached approximately RMB 370.2 million, representing 72.8% of total revenue, with sales volume increasing from approximately 27.8 million pieces in 2022 to 28.6 million pieces in 2023[41] Assets and Liabilities - Non-current assets totaled RMB 212,241,000, while current assets were RMB 407,694,000, leading to a total asset value of RMB 619,935,000[6] - The company’s cash and cash equivalents increased to RMB 270,118,000, up from RMB 227,951,000 in 2022[6] - The capital debt ratio rose to 25.4% in 2023 from 20.4% in 2022, indicating a higher level of leverage[6] - The current ratio as of December 31, 2023, was 1.2, down from 1.5 the previous year, reflecting a decrease in liquidity[57] - The group’s total liabilities to total assets ratio increased to approximately 25.4% from 20.4% the previous year, suggesting a higher leverage position[57] Strategic Initiatives - The company plans to adopt flexible strategies to adapt to market changes and ensure sustainable business growth[16] - The company is focusing on the development of functional fabrics and lingerie manufacturing to contribute positively to overall revenue and financial health[16] - The company plans to enhance operations through R&D, sales, and financial management while optimizing technology and product development[34] - The company aims to leverage the development opportunities in China's smart city initiatives, focusing on high-tech infrastructure services and advanced software and hardware development[76] - The company intends to position itself as a leading enterprise in smart city high-tech infrastructure services, aiming to become a "digital space service provider" and a practitioner of digital China[76] Market and Economic Outlook - The Chinese real estate market is expected to recover, with significant potential and opportunities driven by urbanization and key projects aimed at stabilizing the market, projected to be important tools for investment and consumption promotion in 2024[19] - The global GDP growth rate for 2023 was 2.6%, with China's GDP exceeding RMB 126 trillion, growing by 5.2%, which is 2.2 percentage points faster than in 2022[28] - The OECD forecasts a global GDP growth rate of approximately 2.9% for 2024, with China's GDP growth projected at around 4.7%[74] Environmental, Social, and Governance (ESG) Initiatives - The group has established an ESG governance framework to better fulfill its social responsibilities to stakeholders[117] - The board of directors is responsible for overseeing environmental, social, and governance (ESG) issues, which are considered equally important as other corporate matters[121] - The group identified two relatively high ESG risks: product quality risk and business concentration risk, and has implemented measures to mitigate their impact[123] - The group is committed to integrating environmental, social, and governance (ESG) risks into its risk management system and will conduct regular risk assessments[124] - The group has established a robust ESG risk management system and continuously improves its ESG risk management procedures[124] Employee and Management Information - The group employed approximately 2,200 employees as of December 31, 2023, with total employee costs amounting to RMB 150.0 million, an increase from RMB 139.7 million as of December 31, 2022[67] - Mr. Wang has been appointed as Executive Director with an annual director's fee of HKD 1,200,000, effective for an initial term of three years[79] - Mr. Shu has also been appointed as Executive Director with the same annual director's fee of HKD 1,200,000, under a similar three-year agreement[81] - Mr. Du has been appointed as Executive Director, receiving an annual director's fee of HKD 1,200,000, with a three-year initial term[86] Acquisitions and Investments - The group acquired a 40% stake in Youying Intelligent Technology (Shenzhen) Co., Ltd. for a total consideration of RMB 74 million, marking its entry into the technology sector[22] - The group acquired Eagle Group in May 2023 for a total consideration of RMB 74.0 million, becoming its largest shareholder[69] - Eagle Group recorded an annual net loss of approximately RMB 13.5 million, which is a shortfall of over RMB 38.5 million compared to the profit guarantee[71] Quality and Compliance - The company has established a quality management system to ensure product quality throughout the production and operational processes[153] - Products are certified to meet OEKO-TEX® STANDARD 100, ensuring they are free from harmful substances[151] - The company strictly prohibits the use of banned chemicals in its products, adhering to regulations from the EU, the US, Japan, and China[151] - The group has implemented a customer complaint handling system to ensure timely responses and high customer satisfaction[161] - No customer complaints regarding product quality were received during the reporting period[162]

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 508,622,000, an increase of 8.9% compared to RMB 469,044,000 in 2022[4] - Gross profit for the same period was RMB 105,449,000, representing a gross margin of 20.8%, up from RMB 96,693,000 in 2022[4] - The company reported a net loss of RMB 9,664,000 for the year, compared to a loss of RMB 156,000 in the previous year, indicating a significant decline in profitability[4] - Basic and diluted loss per share for the year was RMB 0.32, compared to RMB 0.03 in 2022, highlighting a deterioration in earnings per share[4] - The group reported a loss before tax of approximately RMB 2.3 million, a decline from a profit of RMB 6.3 million in the previous year, driven by increased administrative expenses and reduced other income[84] - The group reported a net loss of RMB 9.7 million for the year, compared to a net loss of RMB 0.2 million in the previous year[86] Assets and Liabilities - Total assets as of December 31, 2023, were RMB 407,694,000, an increase from RMB 341,935,000 in 2022[5] - Current liabilities increased to RMB 331,238,000 from RMB 234,610,000 in the previous year, reflecting a rise in trade payables and other payables[7] - The company’s non-current assets decreased to RMB 212,241,000 from RMB 164,162,000, primarily due to a reduction in property, plant, and equipment[5] - Trade receivables increased to RMB 48,884,000 in 2023 from RMB 31,988,000 in 2022, representing a growth of approximately 52.7%[52] - Trade payables increased to RMB 64,353,000 in 2023 from RMB 43,446,000 in 2022, marking an increase of 48.0%[60] Revenue Breakdown - Revenue from lingerie products reached RMB 361,339,000, up 11.8% from RMB 323,102,000 in the previous year[26] - Revenue from knitted fabrics was RMB 102,283,000, a slight increase of 4.5% compared to RMB 97,889,000 in 2022[26] - Sales of lingerie products increased from approximately RMB 331.8 million in 2022 to RMB 370.2 million in 2023, accounting for 72.8% of total revenue[74] - The sales volume of knitted fabrics rose to approximately 4,670 tons in 2023, while revenue from knitted fabrics was approximately RMB 136.6 million, a slight decrease from RMB 137.2 million in 2022[73] Expenses and Costs - The cost of sales increased by approximately 8.3% to about RMB 403.2 million, primarily due to higher sales of knitted fabrics and lingerie products[76] - Financing costs increased to RMB 5,779,000 in 2023 from RMB 5,275,000 in 2022, reflecting higher interest expenses[35] - The income tax expense for the year was RMB 7,353,000, compared to RMB 6,419,000 in the previous year, indicating a rise in tax obligations[36] - The group incurred employee costs totaling RMB 150,033,000 in 2023, up from RMB 139,720,000 in 2022, reflecting a year-on-year increase of approximately 7.4%[45] - Administrative expenses increased by 17.0% to approximately RMB 84.6 million, mainly due to higher R&D costs, which amounted to RMB 6.2 million[82] New Initiatives and Acquisitions - The company plans to continue expanding its product offerings and market presence, focusing on manufacturing and processing services in the lingerie and knitted fabric sectors[9] - The company began providing space measurement services, industrial drones, and measurement robots following the acquisition of Eagle Intelligent Technology (Shenzhen) Co., Ltd.[27] - In 2023, the group acquired Youying Intelligent Technology (Shenzhen) Co., Ltd., focusing on data collection services and high-precision UAVs, contributing to the development of digital twin businesses[66] - Youying Group recorded an annual net loss of approximately RMB 13.5 million, significantly missing the profit guarantee by over RMB 38.5 million due to prolonged technology development and application delays[106] Market and Economic Context - The total value of imports and exports in China for 2023 was RMB 41.76 trillion, a slight increase of 0.2% year-on-year[63] - The GDP growth rate for China in 2023 was 5.2%, accelerating by 2.2 percentage points compared to 2022, with GDP exceeding RMB 126 trillion[62] - The digital twin city market size in China was approximately RMB 90 billion in 2023, with expectations to grow to RMB 135 billion in 2024[65] - The group anticipates global GDP growth of approximately 2.9% in 2024, with China's GDP growth projected at around 4.7%[109] Financial Management and Policies - The group maintains a cautious financial management policy and monitors its capital structure based on the total debt to total assets ratio[95] - The group has not proposed any final dividends for the year under review[102] - The group does not have a foreign currency hedging policy and will consider hedging or accounting for significant foreign currency risks as necessary[97]

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 241,217 thousand, a slight increase of 1.3% compared to RMB 236,913 thousand in the same period of 2022[5] - Gross profit decreased to RMB 45,258 thousand, representing a gross margin of 18.8%, down from 24.5% in the previous year[7] - The company reported a loss before tax of RMB (8,816) thousand, compared to a profit of RMB 14,960 thousand in the same period last year[5] - The group recorded a loss attributable to shareholders of approximately RMB 9.5 million, compared to a profit of RMB 12.1 million in the same period of 2022[17] - The net loss for the period was RMB 11,444 thousand, compared to a profit of RMB 12,064 thousand in the same period last year[75] - The group reported a pre-tax loss of approximately RMB 8.8 million, a decrease from a profit of RMB 15.0 million in the same period of 2022[35] - The company reported a basic and diluted loss per share of RMB (1.9) compared to earnings of RMB 2.4 in the previous year[75] - The company reported a loss attributable to owners of approximately RMB 9,485,000 for the six months ended June 30, 2023, compared to a profit of RMB 12,064,000 for the same period in 2022[126] Assets and Liabilities - Total assets increased to RMB 551,530 thousand as of June 30, 2023, up from RMB 506,097 thousand at the end of 2022[5] - Trade receivables increased significantly to RMB 59,115 thousand from RMB 29,356 thousand, reflecting a 101.5% increase year-on-year[76] - Current liabilities rose to RMB 267,515 thousand, up from RMB 234,610 thousand, indicating a 14.0% increase[78] - Total liabilities rose to RMB 269,199,000 as of June 30, 2023, from RMB 237,673,000 as of December 31, 2022[117] - The company's total equity increased to RMB 282,331 thousand from RMB 268,424 thousand, reflecting a growth of 5.2%[78] Revenue Breakdown - The revenue from knitted fabrics was approximately RMB 64.7 million, a decrease of 1.4% compared to RMB 65.6 million in the same period of 2022, while revenue from underwear products increased by 3% to approximately RMB 176.5 million from RMB 171.3 million[17] - The total revenue from the group's business segments for the six months ended June 30, 2023, was broken down as follows: knitted fabrics accounted for 26.8% and underwear products accounted for 73.2%[22] - The lingerie segment generated external sales of RMB 176,497,000, while the knitted fabric segment generated RMB 64,661,000 for the six months ended June 30, 2023[111] Operational Challenges - The company faced challenges due to geopolitical influences and rising global material and energy prices, impacting overall economic activities[9] - China's textile and apparel exports fell by 8.8% year-on-year to USD 142.68 billion in the first half of 2023, with textile exports down 10.9% and apparel down 5.9%[10] - The group anticipates a 4.0% decline in annual export growth for 2023 due to weak global economic conditions[52] Strategic Initiatives - The company is focusing on expanding its market presence amid increasing competition from other major textile exporting countries like Vietnam[9] - The management anticipates a gradual recovery in domestic demand, supported by government consumption stimulus policies and evolving retail models[10] - The establishment of the National Data Bureau in March 2023 is expected to create significant opportunities for the group in AI-driven infrastructure technology services[53] Acquisitions and Investments - The group acquired a 40% stake in Youying Intelligent Technology for a total consideration of RMB 74.0 million, becoming its largest shareholder[20] - Youying Intelligent Technology is engaged in high-precision spatial measurement and modeling services, with expected net profits of RMB 25.0 million, RMB 50.0 million, and RMB 80.0 million from 2023 to 2025[21] - The company made a cash outflow of RMB 25,571,000 for the acquisition of subsidiaries during the reporting period[86] Governance and Compliance - The company has established a remuneration committee to oversee compensation policies for directors and senior management, enhancing governance and transparency[70] - The company confirmed that all directors complied with the standard code of conduct for securities trading during the reporting period[61] - The Audit Committee has reviewed the unaudited interim results for the six months ended June 30, 2023[69] Cash Flow and Financial Health - Cash and cash equivalents decreased significantly to RMB 101,298 thousand from RMB 227,951 thousand, a decline of 55.6%[76] - Cash used in operating activities for the six months ended June 30, 2023, was RMB 94,890,000, an increase from RMB 46,048,000 in the same period of 2022[85] - The company raised RMB 66,000,000 in new borrowings, which was offset by the same amount in loan repayments[86]

Financial Performance - The company's revenue for the year ended December 31, 2022, was approximately RMB 469.0 million, representing an increase of about 8.8% compared to RMB 430.9 million in 2021[16]. - Gross profit for 2022 was RMB 96.7 million, with a gross margin of 20.6%, up from 18.0% in 2021[6]. - The company reported a pre-tax profit of RMB 6.3 million, a significant recovery from a loss of RMB 11.9 million in the previous year[6]. - The revenue breakdown by product category showed that knitted fabric products generated RMB 137.2 million (29.3% of total revenue), while lingerie products accounted for RMB 331.8 million (70.7%)[8]. - The overall order volume for the group increased during the review year due to the easing of the pandemic and improvements in the global economic environment[25]. - The group's total revenue for the year was approximately RMB 469.0 million, an increase of about RMB 38.0 million or approximately 8.8% compared to RMB 431.0 million in the previous year[31]. - Gross profit increased by approximately RMB 19.2 million or about 24.8% to approximately RMB 96.7 million, with a gross margin rising from 18.0% to 20.6%[36]. - Other income and gains amounted to approximately RMB 9.4 million, up from RMB 6.6 million in the previous year, primarily due to the recovery of impairment losses on trade receivables[37]. Regional and Product Revenue Distribution - Revenue distribution by region indicated that China contributed RMB 214.0 million (45.6%), Japan RMB 196.0 million (41.8%), and other regions RMB 58.1 million (13.0%) in total[9]. - The group's knitted fabric revenue was approximately 137.2 million RMB, while underwear product revenue was about 331.8 million RMB[25]. - Revenue from knitted fabrics was approximately RMB 137.2 million, accounting for 29.3% of total revenue, up from 27.8% in the previous year[32]. - Revenue from lingerie products was approximately RMB 331.8 million, representing 70.7% of total revenue, an increase of about RMB 20.5 million from the previous year[33]. Cash Flow and Liquidity - The company maintained a current ratio of 1.5, indicating a stable liquidity position compared to 1.4 in 2021[6]. - Cash and cash equivalents increased to RMB 228.0 million from RMB 161.4 million in the previous year, reflecting improved cash flow management[6]. - Trade receivables increased to approximately RMB 35.9 million from RMB 34.7 million, with an average collection period decreasing to about 29 days from 37 days[47]. - Trade payables increased to approximately RMB 76.2 million from RMB 59.8 million, with an average payment period increasing to about 67 days from 54 days[48]. Market Outlook and Strategy - The company plans to leverage the recovery of the economy to secure more orders and implement effective cost control measures moving forward[16]. - The textile and apparel industry in China is showing resilience and growth potential despite facing challenges from external factors[15]. - The company aims to continue expanding its market presence and enhancing product offerings in response to competitive pressures[16]. - The group maintains a cautiously optimistic outlook for the textile and apparel industry in China, despite facing ongoing challenges[19]. - The group aims to diversify its business portfolio to mitigate risks and enhance revenue sources[25]. - The group will continue to seek new business opportunities with investment potential to further enrich its business portfolio[20]. Governance and Management - The board did not recommend the payment of a final dividend for the year under review, consistent with the previous year[59]. - The group does not have any significant contingent liabilities as of December 31, 2022[55]. - The group has no foreign currency hedging policy, which may require price adjustments to offset production cost increases due to foreign currency fluctuations[54]. - The group faced cash flow interest rate risks due to floating rate borrowings, but management believes the risk is manageable given the current market conditions[53]. Environmental, Social, and Governance (ESG) Practices - The company focuses on sustainable development and has made efforts in environmental, social, and governance (ESG) practices during the reporting period from January 1, 2022, to December 31, 2022[91]. - The report adheres to the ESG reporting guidelines set by the Hong Kong Stock Exchange, ensuring compliance with mandatory disclosure requirements[94]. - The company has established a framework for identifying and managing ESG risks, ensuring responsible operations and stakeholder engagement[91]. - The ESG working group is responsible for implementing the ESG strategy and reports directly to the board, ensuring accountability and oversight[101]. - The company has identified two high-risk and three medium-risk ESG issues through its risk assessment process, indicating a proactive approach to risk management[103]. - The group emphasizes responsible operations in product responsibility and environmental management, ensuring compliance with relevant policies and regulations[120]. - The group is committed to responsible environmental management and aims to build a low-carbon, environmentally friendly manufacturing system[147]. Employee Management and Safety - The group emphasizes responsible employment management, recognizing talent as the primary productivity and strategic resource[176]. - Employee compensation includes basic salary, medical insurance, discretionary bonuses, and retirement benefits, along with various allowances and paid leave[180]. - The group prioritizes employee health and safety, establishing a production safety committee to manage workplace safety matters[186]. - The group reported a total of 387 days lost due to work-related injuries during the reporting period, with no fatalities or government penalties incurred[193]. - The group has implemented a feedback system to gather employee suggestions regarding the work environment, meals, accommodation, and transportation[183]. Community Engagement and Philanthropy - The group donated a total of RMB 9,328.26 during the reporting period, including RMB 6,143.89 and RMB 2,184.37 for pandemic relief efforts[200].

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，並明確表示概不就因本公告全部 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。 GREATIME INTERNATIONAL HOLDINGS LIMITED 廣泰國際控股有限公司 （於英屬維爾京群島註冊成立之有限公司） （股份代號：844） 截至二零二二年十二月三十一日止年度之 末期業績公告 廣泰國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及 其附屬公司（統稱「本集團」）於截至二零二二年十二月三十一日止年度（「回顧年」） 之經審核綜合業績，連同截至二零二一年十二月三十一日止年度之比較數字， 乃根據香港財務報告準則（「香港財務報告準則」）編製於下文。 ...

Financial Performance - Revenue for the six months ended June 30, 2022, increased by approximately 24.4% to RMB 236.9 million compared to RMB 190.4 million in 2021[15] - Gross profit rose by about 35.9% to RMB 57.9 million from RMB 42.6 million in the previous year[15] - The net profit attributable to shareholders for the period was approximately RMB 12.1 million, a significant recovery from a loss of RMB 1.0 million in 2021[15] - The gross margin improved to 24.5% in 2022 from 22.4% in 2021[9] - The company reported a pre-tax profit of RMB 14.96 million, up from RMB 1.65 million in the previous year[7] - The group achieved a gross profit of approximately RMB 57.9 million, an increase of about RMB 15.3 million or approximately 35.9% compared to RMB 42.6 million in the same period of 2021, with a gross margin rising from approximately 22.4% to 24.4%[27] - For the six months ended June 30, 2022, the group's profit before tax was approximately RMB 15.0 million, a significant increase from RMB 1.7 million in the same period of 2021[35] - The group's net profit for the six months ended June 30, 2022, increased to approximately RMB 12.1 million, up from a loss of RMB 1.0 million in the same period of 2021[37] - Basic and diluted earnings per share were RMB 2.4, compared to a loss of RMB 0.2 per share in the same period last year[78] - Total comprehensive income for the period was RMB 16,656 thousand, compared to a total comprehensive loss of RMB 10,560 thousand in the previous year[78] Revenue Breakdown - Revenue from knitted fabrics was approximately RMB 65.6 million, an increase of about RMB 16.2 million or 32.8% compared to RMB 49.4 million in the same period of 2021, accounting for about 27.7% of total revenue[24] - Revenue from underwear products was approximately RMB 171.3 million, an increase of RMB 30.2 million or approximately 21.4% compared to RMB 141.1 million in the same period of 2021, accounting for about 72.3% of total revenue[25] - For the six months ended June 30, 2022, the total revenue was RMB 236,913 thousand, with external sales of lingerie products at RMB 171,269 thousand and knitted fabric at RMB 65,644 thousand[103] Assets and Liabilities - Non-current assets as of June 30, 2022, were RMB 173.8 million, down from RMB 185.4 million at the end of 2021[7] - Current assets increased to RMB 321.1 million from RMB 292.5 million at the end of 2021[7] - The total assets amounted to RMB 494.9 million, compared to RMB 477.8 million at the end of 2021[7] - Total liabilities were RMB 206,242 thousand, slightly up from RMB 205,455 thousand at the end of 2021, showing stable financial leverage[82] - The company's net asset value increased to RMB 288,350 thousand as of June 30, 2022, compared to RMB 271,694 thousand at the end of 2021, reflecting growth in equity[82] Cash Flow and Working Capital - The net cash used in operating activities for the six months ended June 30, 2022, was RMB (46,048) thousand, compared to RMB (19,058) thousand for the same period in 2021[94] - The net cash used in investing activities was RMB (1,289) thousand for the six months ended June 30, 2022, compared to RMB (3,004) thousand in the previous year[94] - The net cash used in financing activities was RMB (3,210) thousand for the six months ended June 30, 2022, compared to RMB (363) thousand in the previous year[94] - Cash and bank balances decreased to RMB 114,942 thousand from RMB 161,408 thousand at the end of 2021, indicating a reduction in liquidity[80] - The group's current ratio as of June 30, 2022, was approximately 1.6, up from 1.4 at the end of 2021[42] Expenses and Costs - Sales and distribution expenses increased to approximately RMB 6.3 million, up from RMB 6.0 million in the previous year, mainly due to increased sales volume and distribution costs[31] - Administrative expenses rose by approximately 17.8% to about RMB 39.0 million, primarily driven by increased employee benefits and depreciation costs[32] - The total employee costs, including director remuneration, amounted to RMB 67,839,000, up from RMB 63,213,000 in the previous year[114] - The financing costs for the six months ended June 30, 2022, totaled RMB 2,652,000, compared to RMB 2,550,000 in the previous year[111] Market and Economic Conditions - The textile and apparel export from China grew by 12% year-on-year to USD 80.2 billion in the first half of 2022[11] - Japan remained the largest export market for the group, with exports to Japan amounting to approximately USD 83.54 billion, a slight increase of 4.4% year-on-year[17] - Economic growth is expected to slow down due to monetary tightening policies, impacting consumer sentiment, with hopes for a rebound in clothing demand in the second half of the year[53] Corporate Governance and Management - The company has adhered to corporate governance codes and standards throughout the reporting period[59] - The board of directors decided not to declare any interim dividend for the six months ending June 30, 2022[52] - The Audit Committee has reviewed the unaudited interim results for the six months ending June 30, 2022[73] - The company has established a Remuneration Committee responsible for determining the remuneration policies for directors and senior management[74] - The Nomination Committee is tasked with reviewing the board's structure and proposing changes to align with the company's strategy[75] Other Notable Information - The group maintained stable domestic sales performance, with support from national "promote consumption" policies despite fluctuations due to pandemic-related lockdowns[16] - The group continued to explore new markets for fabrics and underwear products to mitigate market risks and seek new development opportunities[19] - No significant acquisitions or disposals were made during the six months ending June 30, 2022[57] - There were no major events after June 30, 2022, that significantly impacted the group's operations and financial performance[58] - No share options were granted under the share option scheme during the six months ending June 30, 2022[65] - Directors and key executives had no interests in the company's shares or related securities as of June 30, 2022[66] - Major shareholders hold 52.73% of the company's voting shares, totaling 260,661,501 shares[69]