Group 1 - The company reported a revenue of RMB 237 million for the six months ending June 30, 2025, representing a year-on-year decrease of 1.4% [1] - Gross profit amounted to RMB 54.877 million, showing a year-on-year increase of 5% [1] - The loss attributable to the company's owners was RMB 24.629 million, compared to a loss of RMB 13.822 million in the same period last year [1] - Basic loss per share was RMB 0.050 [1]

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 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之任何損失承擔任何責任。 截至二零二五年六月三十日止六個月之 未經審核中期業績公告 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」）截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 之 未 經 審 核 簡 明 綜 合 業 績，連 同 二 零 二 四 年 同 期 之 比 較 數 字，乃 根 據 香 港 財 務 報 告 準 則 編 製 如下： – 1 – 簡明綜合損益及其他全面收益表 GREATIME INTERNATIONAL HOLDINGS LIMITED 截至二零二五年六月三十日止六個月 廣泰國際控股有限公司 | 截至六月三十日止六個月 | 二零二五年 | 二零二四年 | | | | | | | | | --- | --- | --- | --- ...

格隆汇8月19日丨广泰国际控股(00844.HK)公布，公司将于2025年8月29日召开董事会会议，以（其中包 括）审议及通过集团截至2025年6月30日止六个月的中期业绩及其发布，以及宣派中期股息（如有）。 ...

（股份代號：844） 董事會會議通告 廣 泰 國 際 控 股 有 限 公 司（「本公司」）之 董 事 會（「董事會」）謹 此 宣 佈，本 公 司 將 於 二 零 二 五 年 八 月 二 十 九 日 星 期 五 舉 行 董 事 會 會 議，藉 以 批 准（其 中 包 括）本 公 司 及 其 附 屬 公 司 截 至 二 零 二 五 年 六 月 三 十 日 止 半 年 度 之 中 期 業 績 及 宣 派 中 期 股 息（如 有）。 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） 廣泰國際控股有限公司 主 席 王 彬 香港，二零二五年八月十九日 於 本 公 告 日 期，董 事 會 成 員 包 括 三 位 執 行 董 事 王 彬 先 生、杜 書 偉 先 生 及 舒 ...

致：香港交易及結算所有限公司 公司名稱: 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） 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00844 | 說明 | | | | | | | | 法定/註冊股份數目 | | 面值 | | 法定/註冊股本 | | 上月底結存 | | | 1,000,000,000 | | | | | 增加 / 減少 (-) | | | 0 | | | | | 本月底結存 | | | 1,000,000,000 | | | | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 本月底法定/註冊股本總額： 備註： 無票面值丶法定股本 : 不適用 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分 ...

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]