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]

Financial Performance - The total revenue for the year ended December 31, 2021, was RMB 430,989,000, representing an increase of 3.9% from RMB 418,160,000 in 2020[9]. - Gross profit before tax for 2021 was RMB 77,475,000, down from RMB 98,180,000 in 2020, indicating a decrease of 21.0%[9]. - The net loss for the year was RMB 11,850,000, compared to a profit of RMB 16,260,000 in the previous year[9]. - The total comprehensive loss for the year was RMB 12,278,000, contrasting with a comprehensive income of RMB 8,164,000 in 2020[9]. - The group recorded a revenue of approximately RMB 431.0 million for the year, representing an increase of about 3.1% compared to RMB 418.2 million in 2020[19]. - The group reported a loss of approximately RMB 14.3 million for the year, compared to a profit of RMB 8.9 million in 2020[28]. - The group's revenue for the year was approximately RMB 431.0 million, an increase of about RMB 12.8 million or approximately 3.1% compared to RMB 418.2 million in the previous year[35]. Revenue Breakdown - Revenue from fabric products was RMB 119,733,000, accounting for 27.8% of total revenue, up from 21.4% in 2020[13]. - Revenue from lingerie products was RMB 311,256,000, making up 72.2% of total revenue, down from 78.6% in 2020[13]. - Revenue from the Chinese market was RMB 250,961,000, representing 58.2% of total revenue, an increase from 38.0% in 2020[16]. - Revenue from the Japanese market was RMB 162,267,000, accounting for 37.6% of total revenue, down from 57.7% in 2020[16]. - Sales of knitted fabrics amounted to approximately RMB 119.7 million, representing 27.8% of total revenue, up from 21.4% in the previous year[36]. - Sales of lingerie products were approximately RMB 311.3 million, accounting for 72.2% of total revenue, down from 78.6% in the previous year[37]. Cost and Expenses - The cost of sales increased by approximately 10.5% to about RMB 353.5 million, up from RMB 320.0 million in the previous year[41]. - Gross profit decreased by approximately RMB 20.7 million or about 21.1% to approximately RMB 77.5 million, with a gross margin of 18.0%, down from 23.5% in the previous year[42]. - Other income and gains were approximately RMB 6.6 million, down from RMB 7.1 million in the previous year, primarily due to a reduction in government grants[44]. - Selling and distribution expenses increased by approximately RMB 2.2 million to about RMB 14.6 million, compared to RMB 12.4 million in the previous year[46]. - Administrative expenses increased to approximately RMB 75.5 million, up from RMB 71.4 million in 2020, primarily due to increased employee costs[47]. - Employee costs rose from approximately RMB 111.5 million in 2020 to RMB 137.0 million in the review year, mainly due to increased retirement benefits and pension expenses[47]. Assets and Liabilities - The total assets as of December 31, 2021, were RMB 477,816,000, slightly up from RMB 476,962,000 in 2020[9]. - Cash and cash equivalents at the end of 2021 were RMB 161,408,000, an increase from RMB 140,599,000 in 2020[9]. - Inventory increased to approximately RMB 88.2 million from RMB 59.1 million in 2020, mainly due to higher average unit costs of new materials and increased stock for upcoming sales orders[54]. - Trade receivables decreased to approximately RMB 34.7 million from RMB 51.6 million in 2020, with an average turnover period of about 37 days, down from 40 days in 2020[56]. - The group maintained a capital debt ratio of approximately 21.6% as of December 31, 2021, consistent with the previous year[58]. - The group's bank loans amounted to approximately RMB 87.7 million and RMB 10.3 million as of December 31, 2021, secured by properties and right-of-use assets[65]. Market and Economic Conditions - The group expects continued improvement in macroeconomic conditions and a gradual recovery in product demand as vaccination rates increase globally[21]. - The global economic growth forecast has been adjusted down to 4.4% due to inflation and supply-side disruptions, posing risks to the group's business[70]. - China's total import and export volume reached RMB 39.1 trillion in 2021, with a year-on-year growth of 21.4%[20]. - The textile and apparel export value was USD 322.71 billion, marking a 9% increase year-on-year, achieving a historical high[20]. - The textile industry in China achieved an export value of USD 314.47 billion, an increase of 8.4% year-on-year, with clothing exports reaching USD 170.26 billion, up 24%[27]. Governance and Management - The group aims to maintain a prudent and stable business strategy while exploring investment opportunities outside its core business[23]. - The group's ultimate controlling shareholder successfully restructured in 2021, which is expected to improve overall financing capabilities[71]. - The board did not recommend a final dividend for the year under review[68]. - There were no significant acquisitions or disposals during the year[69]. Environmental, Social, and Governance (ESG) Initiatives - The company focuses on sustainable development and has implemented policies and practices to address environmental, social, and governance (ESG) issues in 2021[105]. - The report emphasizes stakeholder engagement and responses to their expectations and concerns regarding sustainability[105]. - The company is committed to monitoring its performance to provide comprehensive disclosures on its ESG efforts[107]. - The company established an Environment, Social, and Governance (ESG) working group to assist the board in managing ESG issues[118]. - The ESG working group is responsible for formulating and reviewing the company's ESG management policies and strategies, as well as monitoring the progress of related goals[128]. - The company aims to enhance risk management related to ESG issues in the future[129]. Employee and Workplace Practices - The employee turnover rate is 26%, with 1,503 employees reported[177]. - The company employs 596 male and 492 female employees, with a total of 1,906 employees[177]. - The company emphasizes equal employment opportunities and prohibits discrimination based on various factors[168]. - The company provides various employee benefits, including medical insurance and paid leave[173]. - The company has established a production safety committee to manage occupational health and safety matters[179]. - The group has not experienced any work-related fatalities in the past three years, with 322 days lost due to work-related injuries during the reporting period[185]. Quality Control and Product Responsibility - The company emphasizes the importance of product quality as a key competitive advantage in the market[146]. - The company has established strict quality control policies and procedures to ensure compliance with legal and customer standards[149]. - The company conducts various tests on its products, including physical, chemical, and microbiological tests, to assess health and safety[150]. - The company has a procedure for handling defective materials, including returns and repairs[150]. - The company recognizes the need for close and long-term relationships with suppliers to maintain product quality[144].

Financial Performance - Revenue for the six months ended June 30, 2021, was approximately RMB 190.4 million, a decrease of about 1.5% compared to RMB 193.3 million in the same period of 2020[11] - Gross profit for the same period was RMB 42.6 million, resulting in a gross margin of 22.4%, down from 24.8% in 2020[5][7] - The company recorded a loss of RMB 1.0 million for the period, an improvement from a loss of RMB 1.7 million in the previous year[11] - For the six months ended June 30, 2021, the total revenue of the group was approximately RMB 190.4 million, a decrease of about RMB 2.9 million or approximately 1.5% compared to RMB 193.3 million for the same period in 2020[16] - The gross profit decreased by approximately RMB 5.3 million or about 11.1% to approximately RMB 42.6 million, resulting in a slight decline in gross margin from approximately 24.8% in 2020 to about 22.4% in 2021[21] - The group recorded a loss before tax of approximately RMB 1.7 million, a decrease of about RMB 0.7 million from a loss of RMB 1.0 million in the same period of 2020[30] - The company reported a basic and diluted loss per share of RMB 0.2, an improvement from RMB 0.3 in the previous year[75] - The net profit attributable to the owners for the six months ended June 30, 2021, was RMB 1,008,000, compared to a loss of RMB 1,688,000 for the same period in 2020[114] Revenue Breakdown - The company’s knitted fabric revenue was approximately RMB 49.4 million, while lingerie products generated about RMB 141.1 million in revenue during the review period[11] - The revenue from knitted fabrics was approximately RMB 49.4 million, an increase of about RMB 15.1 million or 44.0% compared to RMB 34.3 million in 2020, accounting for approximately 25.9% of total revenue[18] - The revenue from underwear products was approximately RMB 141.1 million, a decrease of RMB 18.0 million or approximately 11.3% compared to RMB 159.1 million in 2020, accounting for approximately 74.1% of total revenue[19] - The external sales for lingerie products amounted to RMB 141,069 thousand, while knitted fabric sales were RMB 49,351 thousand[100] Assets and Liabilities - Total assets amounted to RMB 482.7 million, with total liabilities of RMB 195.8 million, resulting in total equity of RMB 287.7 million[5] - Non-current assets as of June 30, 2021, were RMB 195.7 million, compared to RMB 212.2 million at the end of 2020[5] - Trade receivables and bills receivable rose to approximately RMB 80.3 million as of June 30, 2021, compared to RMB 56.6 million as of December 31, 2020, primarily due to increased sales activities and extended credit terms to domestic customers[34] - Trade payables increased to approximately RMB 47.8 million as of June 30, 2021, from RMB 44.3 million as of December 31, 2020, driven by higher raw material purchases in anticipation of increased sales orders[35] - The net asset value decreased to RMB 287,667 thousand from RMB 298,227 thousand, reflecting the overall loss during the period[79] Inventory and Receivables - The company’s inventory turnover days increased to 87 days from 80 days in the previous year[7] - As of June 30, 2021, inventory balance increased to approximately RMB 81.0 million, up from RMB 59.1 million as of December 31, 2020, reflecting an increase in raw material purchases and finished goods due to anticipated sales growth in the second half of 2021[33] - Trade receivables as of June 30, 2021, totaled RMB 80,326,000, compared to RMB 51,600,000 as of December 31, 2020[122] Expenses - The selling and distribution expenses increased by approximately RMB 0.6 million to about RMB 6.0 million, primarily due to increased sales volume and distribution costs of fabric products[26] - The administrative expenses decreased by approximately 14.6% to about RMB 33.1 million, mainly due to reduced rental expenses as the group no longer rented certain office properties[27] - The total employee costs, including director remuneration, amounted to RMB 58,583,000 for the six months ended June 30, 2021, compared to RMB 54,548,000 in the previous year[111] Financing and Cash Flow - The financing costs remained stable at approximately RMB 2.6 million, with actual bank borrowing rates ranging from 4.38% to 5.22%[28] - The company incurred financing costs of RMB (2,542) thousand during the reporting period[100] - Cash and cash equivalents decreased by RMB (22,425) thousand, with a balance of RMB 114,693 thousand as of June 30, 2021[92] - The net cash used in operating activities was RMB (19,058) thousand, a significant decrease from RMB 472 thousand in the previous year[92] Market Outlook - The textile export value decreased by 7.38% year-on-year in the first half of 2021, reflecting challenges in the international market[10] - The company anticipates a gradual recovery in garment export orders, which is expected to positively impact lingerie product revenue[12] - Demand for Chinese textiles is expected to remain stable in the second half of the year due to economic recovery and vaccination efforts[49] Corporate Governance - The company adheres to corporate governance codes and has maintained compliance throughout the reporting period[54] - The Audit Committee has reviewed the unaudited condensed consolidated interim results for the six months ended June 30, 2021[69] - The company has a Compensation Committee responsible for determining the remuneration policies for directors and senior management[70] - The Nomination Committee is tasked with reviewing the board's structure and proposing changes to align with the company's strategy[72] Shareholder Information - As of June 30, 2021, the major shareholder, Junfeng Investment Limited, holds 260,661,501 shares, representing 52.73% of the total shares[64] - Junfeng International Limited is wholly owned by Junfeng Investment Limited, which is 98.48% owned by Yongtai Group[65] Other Information - The company has not conducted any significant acquisitions or sales in the six months ending June 30, 2021[51] - There have been no major events affecting the company's operations or financial performance after June 30, 2021[52] - The company has not established any arrangements for directors or their family members to benefit from purchasing the company's shares or debt securities as of June 30, 2021[62] - No interim dividend was declared for the six months ended June 30, 2021, consistent with the previous year[46]

(於英屬維爾京群島註冊成立之有限公司) 股份編號：844 廣泰國際控股有限公司 GREATIME INTERNATIONAL HOLDINGS LIMITED 非財務 年度報告2020 1 廣泰國際控股有限公司 • 二零二零年年報 目錄 公司資料 財務概要 2 3 主席函件 6 管理層討論及分析 8 董事及高級管理層之履歷簡介 15 環境、社會及管治報告 20 企業管治報告 63 董事會報告 77 獨立核數師報告 85 綜合損益及其他全面收益表 91 綜合財務狀況表 92 綜合權益變動表 94 綜合現金流量表 96 綜合財務報表附註 98 公司資料 | --- | --- | |------------------------------------------------------------------------|-----------------------------------------------------| | | | | 執行董事 | 總部及香港主要營業地點 | | 王彬先生 | 香 港 | | 田英女士 | 灣 仔 | | 杜書偉先生 | 皇后大道東 183 號 | | 非執行董事 ...

Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 193.3 million, a decrease of 14.4% compared to RMB 225.9 million in 2019[15] - Gross profit for the same period was RMB 47.9 million, down from RMB 54.5 million in 2019[5] - The company recorded a loss of RMB 1.7 million for the period, compared to a profit of RMB 6.3 million in 2019[15] - For the six months ended June 30, 2020, the company recorded revenue of approximately RMB 193.3 million, a decrease of about RMB 32.6 million or approximately 14.4% compared to RMB 225.9 million in the same period of 2019[19] - Gross profit decreased by approximately RMB 6.6 million or about 12.1% to RMB 47.9 million, while the gross margin slightly increased from approximately 24.1% to 24.8%[25] - The group's profit before tax for the six months ended June 30, 2020, was approximately RMB 3.9 million, a decrease from RMB 9.3 million in the same period of 2019, primarily due to a decline in gross profit from knitted fabrics and underwear products[33] - The group reported a loss of approximately RMB 1.7 million for the six months ended June 30, 2020, down from a profit of RMB 6.3 million in the same period of 2019, resulting in a loss margin of 0.9% compared to a profit margin of 2.8% in 2019[35] - Total comprehensive income for the period was a loss of RMB 1,159 thousand, significantly lower than the comprehensive income of RMB 5,031 thousand in 2019[76] - The basic and diluted loss per share for the six months ended June 30, 2020, was approximately RMB 1,688,000, compared to a profit of RMB 6,273,000 for the same period in 2019[116] Assets and Liabilities - Non-current assets as of June 30, 2020, were RMB 220.3 million, down from RMB 248.2 million at the end of 2019[5] - Current assets increased to RMB 267.7 million from RMB 210.6 million in December 2019[5] - The total assets amounted to RMB 488.0 million, compared to RMB 458.7 million at the end of 2019[5] - Current liabilities rose to RMB 197,159 thousand from RMB 166,297 thousand, reflecting increased operational obligations[82] - Total liabilities as of June 30, 2020, were RMB 199,115,000, up from RMB 168,670,000 as of June 30, 2019, indicating a rise of about 18.0%[107] - The group maintained a debt-to-asset ratio of approximately 21.1% as of June 30, 2020, slightly down from 21.4% as of December 31, 2019[40] Cash Flow and Financing - The company's cash and bank balances increased to RMB 105,084 thousand from RMB 93,755 thousand, indicating stronger cash flow management[78] - Cash and cash equivalents increased by RMB 10,454 thousand during the period, compared to a decrease of RMB 14,223 thousand in the same period last year[89] - The net cash generated from operating activities was RMB 472 thousand, a recovery from a net cash outflow of RMB 772 thousand in the previous year[89] - The company incurred financing costs of RMB 2,967 thousand, which is an increase compared to the previous year's financing costs[102] - The group obtained new bank borrowings of approximately RMB 75,000,000 for the six months ended June 30, 2020, up from RMB 50,000,000 for the same period in 2019[127] - The group repaid bank borrowings of approximately RMB 70,000,000 for the six months ended June 30, 2020, compared to RMB 50,000,000 for the same period in 2019[127] Inventory and Receivables - Inventory increased to approximately RMB 65.6 million as of June 30, 2020, from RMB 61.7 million as of December 31, 2019, reflecting an increase in raw material purchases and finished goods in anticipation of higher sales in the second half of 2020[36] - Trade receivables rose to approximately RMB 72.6 million as of June 30, 2020, from RMB 39.9 million as of December 31, 2019, due to increased sales activities and extended credit terms to domestic customers[37] - Trade receivables as of June 30, 2020, totaled RMB 72,565,000, a significant increase from RMB 39,920,000 as of December 31, 2019, reflecting a growth of approximately 81.9%[124] Market and Operational Strategy - The textile and apparel industry faced significant challenges, with a 19.4% year-on-year decline in China's clothing exports in the first half of 2020[14] - The company continues to focus on diversifying its business to mitigate risks and revenue sources[15] - The company is actively expanding its fabric and underwear product markets, seeking strategic partnerships with customers in the ASEAN region to adapt to market changes and mitigate risks[17] - The company plans to maintain its focus on the lingerie and knitted fabric segments, which are critical to its operational strategy moving forward[98] - The company has continued to monitor the impact of the COVID-19 pandemic on its operations and financial condition, indicating a proactive approach to risk management[97] Corporate Governance and Shareholder Information - The company emphasizes good corporate governance practices and has adhered to the corporate governance code during the reporting period[56] - Major shareholder Junfeng Investment Limited holds 260,661,501 shares, representing 52.73% of the company's voting shares[66] - No interim dividend was declared for the six months ending June 30, 2020, consistent with the previous year[49] - No significant acquisitions or disposals were made during the six months ending June 30, 2020[54] - There were no major events occurring after June 30, 2020, that would significantly impact the group's operations and financial performance[55] Employee and Operational Costs - Administrative expenses decreased by approximately 6.3% to about RMB 38.8 million, with total employee costs reducing to RMB 19.7 million from RMB 25.0 million in the same period of 2019[30] - The total employee costs, including directors' remuneration, amounted to RMB 54,548,000, down 12.7% from RMB 62,542,000 in the previous year[113] - Short-term employee benefits for key management personnel amounted to RMB 5,637,000 for the six months ended June 30, 2020, compared to RMB 5,223,000 for the same period in 2019, reflecting an increase of approximately 7.9%[134]

Financial Performance - The company reported a revenue of RMB 410.2 million for the year ended December 31, 2019, representing an increase of approximately 18.1% compared to 2018[14]. - Gross profit increased by approximately 50.2% to about RMB 100.0 million, with a gross margin of 24.4%[14]. - The loss attributable to shareholders decreased to approximately RMB 6.7 million from RMB 20.1 million in the previous year[14]. - The group recorded revenue of approximately RMB 410.2 million in 2019, up from RMB 347.2 million in 2018, while the loss for the year was approximately RMB 6.7 million, an improvement from a loss of RMB 20.1 million in 2018[24]. - The group's profit before tax improved to approximately RMB 0.3 million, compared to a loss of RMB 19.7 million in 2018, driven by increased revenue and gross profit[46]. - The annual loss decreased to approximately RMB 6.7 million from RMB 20.1 million in 2018, primarily due to an increase in gross profit of about RMB 33.4 million[48]. Revenue Breakdown - Revenue from fabric products was RMB 109.4 million, accounting for 26.7% of total revenue, while revenue from lingerie products was RMB 300.8 million, accounting for 73.3%[10]. - Revenue distribution by region showed Japan at RMB 210.1 million (51.2%), China at RMB 174.4 million (42.5%), and the USA at RMB 11.7 million (2.9%) for 2019[12]. - The group's knitted fabric revenue was approximately RMB 109.4 million, while revenue from underwear products was about RMB 300.8 million[24]. - Revenue from knitted fabrics was approximately RMB 109.4 million, accounting for about 26.7% of total revenue, while underwear products generated approximately RMB 300.8 million, accounting for about 73.3%[35][36]. Asset and Liability Management - Non-current assets totaled RMB 248.2 million, while current assets were RMB 210.6 million[8]. - The company’s total assets amounted to RMB 458.7 million, with total equity of RMB 290.1 million[8]. - The capital debt ratio was 21.4%, reflecting a manageable level of debt[8]. - Cash and cash equivalents decreased to RMB 93.8 million from RMB 147.7 million in the previous year[8]. - The current ratio was 1.3, indicating a stable liquidity position[8]. Market and Economic Conditions - In 2019, revenue for large-scale textile enterprises in China decreased by 1.5% compared to the previous year, with total profits dropping by 11.6%[15]. - The overall economic growth in China slowed to 6% in the third quarter of 2019, the lowest recorded since 1992, impacting the textile industry significantly[22]. - The group maintains a neutral outlook for the future of the Chinese textile and apparel industry despite ongoing risks and challenges[16]. - The group anticipates challenges due to ongoing geopolitical risks and the impact of the COVID-19 pandemic, which has led to significant uncertainty in supply and demand across the industry[67]. Operational Strategies - The group plans to continue developing its business in Myanmar, expecting it to provide stable sales and become a key pillar for sustainable profitability[17]. - The group aims to diversify its business to reduce operational risks and expand revenue sources[24]. - The group is actively expanding into new markets in Southeast Asia, including strategic partnerships with ASEAN countries to mitigate market changes and diversify risks[29]. - The group anticipates significant opportunities along the "Belt and Road" initiative, leveraging the rapid development of the textile industry in Myanmar[29]. - The group is actively adjusting production capacity and exploring investment opportunities to mitigate operational risks in a challenging business environment[69]. Governance and Management - The board of directors is responsible for overseeing the company's business, policies, financial performance, and corporate governance functions[153]. - The company has established procedures to ensure effective risk management and internal control systems[157]. - The company has a structured approach to reviewing director's fees based on current market conditions and responsibilities[90]. - The company emphasizes the importance of stakeholder communication and interaction through diverse channels to understand stakeholder expectations and optimize its sustainable development strategy[135]. Employee and Labor Practices - The total employee cost for the group was approximately RMB 118.3 million for the year, an increase from RMB 110.2 million in the previous year[63]. - The employee recruitment process is conducted fairly, focusing on work experience, skills, and performance, without discrimination based on age, gender, nationality, or other factors[188]. - Employees receive various benefits, including medical insurance, paid annual leave, and transportation allowances[190]. - The company prohibits child labor and forced labor, ensuring compliance with labor laws and regulations[188]. - 75% of the workforce is male, while 25% is female, indicating a gender distribution within the company[195]. Sustainability and ESG Reporting - The report is prepared in accordance with the Hong Kong Stock Exchange's ESG Reporting Guidelines[130]. - The company aims to continuously optimize and improve its disclosures for a more comprehensive operational performance[129]. - The report outlines the company's efforts and achievements in sustainable development for the year 2019[126]. - The company emphasizes its commitment to sustainable development to mitigate risks and seize business opportunities[151]. - Important issues identified include health and safety, employment and welfare, corporate governance and risk management, product responsibility, employee development and training, labor standards, product and service quality, and indoor air quality[146].