Financial Performance - The total revenue for the year ended December 31, 2023, was RMB 375,161,000, a decrease of 2.7% compared to RMB 385,472,000 in 2022[5] - The gross profit for the same period was RMB 45,753,000, down 42.8% from RMB 79,838,000 in the previous year[5] - The net loss attributable to the owners of the company for 2023 was RMB 230,665,000, compared to a loss of RMB 340,411,000 in 2022, representing a 32.3% improvement[5] - The group reported a pre-tax loss of RMB 193,801,000 for the year ending December 31, 2023, compared to a pre-tax loss of RMB 301,723,000 for the year ending December 31, 2022[21][22] - The group recorded a net loss of RMB 230,665,000 for the year 2023, compared to a net loss of RMB 340,411,000 in 2022, indicating an improvement of 32.3%[51] - The basic and diluted loss per share for 2023 was RMB 15.34, compared to RMB 22.64 in 2022, indicating a reduction in loss per share by 32.4%[5] - Net loss recorded during the reporting period was approximately RMB 211,900,000, compared to a net profit of about RMB 315,100,000 for the year ended December 31, 2022[84] Assets and Liabilities - Total assets decreased from RMB 1,073,409,000 in 2022 to RMB 804,309,000 in 2023, a decline of 25%[6] - Non-current assets decreased from RMB 1,398,744,000 in 2022 to RMB 1,257,257,000 in 2023, a reduction of 10.1%[6] - Current liabilities increased from RMB 815,243,000 in 2022 to RMB 829,732,000 in 2023, an increase of 1.8%[6] - As of December 31, 2023, the group had a net current liability of approximately RMB 452,948,000, an increase from RMB 325,335,000 as of December 31, 2022[12] - Total liabilities as of December 31, 2023, were approximately RMB 1,016,100,000, compared to about RMB 1,050,900,000 in 2022, with a debt-to-equity ratio increasing to 59.7% from 50.3%[88] Cash Flow and Financing - The company's cash and cash equivalents decreased from RMB 35,067,000 in 2022 to RMB 32,508,000 in 2023, a decline of 7.3%[6] - The board believes that the group has sufficient cash resources to meet its operational funding and financial obligations for at least the next twelve months[14] - The group is actively seeking additional financing and loan sources to settle existing financial obligations and fund future operations and capital expenditures[16] - The group is actively exploring various financing options with multiple financial institutions to secure operational funding for the foreseeable future[68] Revenue Breakdown - External sales for the infrastructure and dredging business segment amounted to RMB 30,069,000, while the environmental dredging and water management segment generated RMB 9,006,000 in external sales for the year ending December 31, 2023[21] - Revenue from the infrastructure and reclamation business was RMB 30,069 thousand, down 68.9% from RMB 96,497 thousand in 2022[33] - Revenue from environmental dredging and water management business was RMB 9,006 thousand, a decline of 47.3% from RMB 17,071 thousand in 2022[33] - Revenue from other maritime business increased to RMB 334,300 thousand, up 24.2% from RMB 269,218 thousand in 2022[33] - The infrastructure and land reclamation segment generated revenue of approximately RMB 30,100,000, a significant decrease of about 68.8% compared to the previous year, primarily due to economic downturns and project delays[70] - The environmental dredging and water management segment recorded revenue of approximately RMB 9,000,000, a decrease of about 47.2% due to a reduction in the number of projects undertaken during the reporting period[70] - The other maritime operations segment achieved revenue of approximately RMB 334,300,000, an increase of 24.2%, driven by a higher number of executed projects, particularly in offshore wind power construction[72] Cost Management - Total operating costs increased to RMB 329,408,000 in 2023 from RMB 305,634,000 in 2022, reflecting a rise of 7.8%[50] - The group continues to implement cost control measures to improve cash flow from operations[16] - The group plans to strengthen cost control and optimize capital structure to support business development amid economic slowdown[93] - The group’s total employee costs decreased to RMB 58,244,000 in 2023 from RMB 62,702,000 in 2022, a reduction of 7.4%[50] Equity and Dividends - The company's equity attributable to owners decreased from RMB 679,675,000 in 2022 to RMB 449,010,000 in 2023, a decrease of 33.9%[7] - The board does not recommend any final dividend for the year ending December 31, 2023, consistent with 2022[95] Governance and Compliance - The company has adopted the corporate governance code and has complied with all applicable provisions during the reporting period[98] - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and financial reporting systems for the year ending December 31, 2023[100] - The external auditor confirmed that the financial figures in the announcement align with the audited consolidated financial statements for the year ending December 31, 2023[102] Employee Information - As of December 31, 2023, the company had 443 employees, a decrease from 471 employees in 2022[94]

Financial Performance - The company reported a significant increase in revenue for the six months ended June 30, 2023, with total revenue reaching RMB 500 million, representing a 25% year-over-year growth[12]. - Revenue for the Group increased by 27.8% to approximately RMB 220.7 million, up from approximately RMB 172.7 million in the corresponding period of 2022[28]. - The Group recorded a profit of approximately RMB 25.0 million during the Reporting Period, compared to a loss of approximately RMB 5.9 million in the first half of 2022[18]. - Profit before tax for the six months ended June 30, 2023, was RMB 44,935,000, a substantial rise from RMB 3,762,000 in the same period of 2022[126]. - The total comprehensive income for the period was RMB 24,986,000, compared to a loss of RMB 5,890,000 in the previous year, marking a turnaround[126]. - The Group's gross profit increased by 159% from approximately RMB 28.5 million to approximately RMB 73.7 million for the Reporting Period[36]. - The overall gross profit margin of the Group increased from 16.5% to 33.4% for the Reporting Period[42]. Revenue Segmentation - The CRD Business segment experienced a significant decline in revenue, down approximately 56.2% to RMB 20.9 million due to project delays[29]. - The EPD and Water Management Business segment's revenue decreased by 27.2% to approximately RMB 3.5 million, attributed to fewer projects launched[30]. - Other Marine Business revenue increased by 64.5% to approximately RMB 191.8 million, driven by enhanced equipment capabilities[31]. - The Property Management Business revenue increased by 22.2% to approximately RMB 4.4 million from approximately RMB 3.6 million in the corresponding period of 2022[35]. - The Capital and Reclamation Dredging Business generated revenue of RMB 20,948,000, a significant decrease of 56.1% from RMB 47,708,000 in the previous year[170]. - The Environmental Protection Dredging and Water Management Business reported revenue of RMB 3,474,000, down 27.2% from RMB 4,774,000 in the prior year[170]. - The Other Marine Business saw a substantial increase in revenue to RMB 191,822,000, up 64.4% from RMB 116,645,000 in the same period last year[170]. - Revenue from external customers for the six months ended June 30, 2023, was RMB 208,761,000 from Mainland China, an increase from RMB 130,595,000 in the same period of 2022, representing a growth of approximately 60%[196]. Operational Efficiency and Investments - Investment in new technologies has been prioritized, with RMB 50 million allocated for R&D in environmental protection equipment, aiming to enhance operational efficiency[12]. - The gross profit margin improved to 35%, up from 30% in the previous year, reflecting better cost management and operational efficiencies[12]. - The Group's strategic focus includes improving project capacity and seeking growth in emerging markets[20]. - Cost control measures are being implemented to improve cash flow and generate greater positive cash inflows from operations[156]. Cash Flow and Financial Position - Cash flow from operating activities increased by 15%, totaling RMB 120 million, providing a solid foundation for future investments[12]. - Operating cash flows before movements in working capital increased to RMB 103,038,000 in 2023 from RMB 63,487,000 in 2022, representing a growth of 62.4%[133]. - Cash generated from operations rose to RMB 67,672,000 in 2023, compared to RMB 36,649,000 in 2022, marking an increase of 84.7%[133]. - The Group's cash and cash equivalents at the end of the period increased to RMB 40,610,000 in 2023 from RMB 28,216,000 in 2022, an increase of 43.9%[134]. - The Group's total liabilities decreased by about 6.7% to approximately RMB 980.5 million compared to the corresponding period last year[61]. - The Group's debt-to-equity ratio improved to 45.8% as of June 30, 2023, down from 50.3% as of December 31, 2022, primarily due to repayment of bank borrowings[64]. Strategic Outlook - The company provided an optimistic outlook for the second half of 2023, projecting a revenue increase of 30% compared to the first half, driven by ongoing projects and new contract wins[12]. - Market expansion efforts are underway, with plans to enter two new provinces in China by the end of 2023, targeting a 20% increase in market share[12]. - The Group aims to explore dredging project opportunities in Southeast Asia, specifically in Indonesia, Bangladesh, Myanmar, and Thailand[20]. - The company is exploring potential acquisitions to bolster its service offerings, with a focus on companies specializing in dredging and environmental services[12]. Shareholder Information - The company aims to maintain a dividend payout ratio of 40% for the fiscal year, ensuring shareholder returns while reinvesting in growth initiatives[12]. - As of June 30, 2023, Ms. Zhou Shuhua holds 701,819,500 ordinary shares, representing approximately 46.67% of the company's shareholding[88]. - Mr. Liu Kaijin is the beneficial owner of 526,019,500 shares, accounting for about 34.98% of the total shares[99]. - The 2021 Share Option Scheme allows for the issuance of up to 150,388,150 shares, which is 10% of the total shares in issue as of June 17, 2021[102]. Governance and Compliance - As of June 30, 2023, the Audit Committee has reviewed the unaudited consolidated results prior to Board approval, ensuring compliance with accounting principles[106]. - The Remuneration Committee is responsible for reviewing the remuneration packages of executive Directors and senior management, ensuring alignment with corporate goals[108]. - The Nomination Committee is tasked with assessing the independence of independent non-executive Directors and reviewing the Board's structure and composition[116].

香港交易及結算所有限公司以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。 China Dredging Environment Protection Holdings Limited 中 國 疏 浚 環 保 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） (股份代號：871) 有關截至二零二三年六月三十日止六個月 未經審核中期業績公告之 補充公告 茲提述中國疏濬環保控股有限公司（「本公司」，連同其附屬公司稱為「本集 團」）截至二零二三年六月三十日止六個月未經審核中期業績公告(「2023 年中期 業績」)。除文義另有所指外，本公告所用詞彙與中期業績內所界定者具有相同涵 義。 本公司注意到在 2023 年中期業績的第 25 頁，標題為「每股虧損 」項下的字句存 在下面劃線標出的兩處無意的排印錯誤: “報告期間每股虧損為約人民幣 0.33 元，而去年同期則為每股虧損約人民幣 1.17 元。” 本公司确认相关字句應按以下所示更正修改: “報告期間每股虧損為約人民幣 0.33 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 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。 China Dredging Environment Protection Holdings Limited 中 國 疏 浚 環 保 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：871） 截至二零二三年六月三十日止六個月 未經審核中期業績公告 中國疏浚環保控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈，本公 司及其附屬公司（「本集團」）截至二零二三年六月三十日止六個月（「報告期間」）的 未經審核簡明綜合中期業績，以及截至二零二二年六月三十日止六個月的未經審 核的比較數據如下（均根據香港財務報告準則（「香港財務報告準則」）編製並以人 民幣（「人民幣」）呈列）： 簡明綜合損益及其他全面收益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 人民幣千元 人民幣千元 附註 （未經審核） （未經審核） ...

Financial Performance - The company reported a revenue of HK$243 million for the year ended December 31, 2022, reflecting a significant increase compared to the previous year[10]. - Revenue for 2022 was RMB 385,472,000, a slight decrease of 0.24% from RMB 387,389,000 in 2021[16]. - For the financial year 2022, the Group recorded total revenue of approximately RMB 385.5 million, representing a decrease of 0.5% compared to RMB 387.4 million in 2021[30]. - The Group achieved a gross profit of approximately RMB 79.8 million in 2022, significantly up from RMB 34.9 million in 2021[30]. - The Group recorded a net loss of approximately RMB 315.1 million for the year, influenced by a decrease in fair values of investment properties amounting to approximately RMB 142.6 million[30]. - The company reported a profit before tax loss of RMB 301,723,000 for 2022, compared to a profit of RMB 40,642,000 in 2021[16]. - The income tax expense for 2022 was RMB 13,412,000, compared to a tax credit of RMB 613,000 in 2021[16]. - The company’s total equity as of December 31, 2022, was RMB 234,526,000, a decrease from RMB 238,723,000 in 2021[21]. - The Group recorded a net loss of approximately RMB 315.1 million for the reporting period, compared to a net profit of approximately RMB 41.3 million for the year ended December 31, 2021[70]. - The loss per share for the reporting period was approximately RMB 22.64, compared to earnings per share of approximately RMB 1.64 in 2021[71]. Operational Highlights - The management highlighted a 15% growth in user data, indicating an expanding customer base and increased engagement[10]. - The Group plans to stabilize project management and team structures as a top priority for the upcoming year[34]. - The Group is committed to maintaining its core dredging and marine business operations while ensuring quality service for clients[35]. - The Group is actively monitoring market conditions and implementing measures to mitigate the negative impacts of the pandemic, focusing on project cost control and stabilizing operations[97][101]. - The Group aims to leverage opportunities in China's rapidly developing offshore wind power industry to participate in more construction projects[34]. - The Group is leveraging the rapid development of offshore wind power construction to capture more business opportunities in maritime services[95]. Strategic Initiatives - Future outlook includes a projected revenue growth of 20% for the upcoming fiscal year, driven by new project acquisitions and market expansion strategies[10]. - The company is investing in new technologies, with a budget allocation of HK$50 million for research and development in environmental protection solutions[10]. - Market expansion efforts are focused on Southeast Asia, with plans to enter two new countries by the end of 2023[10]. - The company is considering strategic acquisitions to enhance its service offerings, targeting firms with complementary capabilities in dredging and environmental services[10]. - A new product line aimed at sustainable dredging solutions is set to launch in Q2 2023, expected to contribute an additional HK$30 million in revenue[10]. Corporate Governance - The company plans to enhance its corporate governance practices in line with the latest CG Code amendments, ensuring compliance and transparency[10]. - The Company has complied with all applicable code provisions under the Corporate Governance Code[135]. - The Board comprises two executive Directors and three independent non-executive Directors as of the date of the annual report[143]. - The Company is committed to maintaining good corporate governance practices and procedures[142]. - The independent directors contribute to the Group's strategic direction and risk management, leveraging their industry expertise[121]. Financial Position - Non-current assets decreased to RMB 1,398,744,000 in 2022 from RMB 1,641,985,000 in 2021, representing a decline of 14.8%[18]. - Current assets also fell to RMB 489,908,000 in 2022, down 22% from RMB 627,664,000 in 2021[18]. - Total net assets decreased to RMB 837,764,000 in 2022 from RMB 1,160,689,000 in 2021, a reduction of 27.7%[18]. - Current liabilities remained relatively stable at RMB 815,243,000 in 2022, compared to RMB 822,041,000 in 2021[18]. - Total liabilities amounted to approximately RMB 1,050.9 million as of December 31, 2022, down from approximately RMB 1,109.0 million as of December 31, 2021[79]. - The gearing ratio increased to 50.3% as of December 31, 2022, compared to 46.1% in 2021[79]. Challenges and Risks - The Group's operational challenges were exacerbated by the COVID-19 pandemic, impacting construction schedules and costs[29]. - In 2022, the environmental dredging and water management business was severely impacted by project delays, but the Group expects normal progress to resume as the economy recovers[95]. - The allowance for expected credit losses on trade receivables and contract assets was approximately RMB 164.7 million for the Reporting Period, a significant increase from a reversal of approximately RMB 7.5 million in the previous year[53]. Human Resources - The total staff cost for the reporting period was approximately RMB 62.7 million, an increase from approximately RMB 56.7 million in 2021, with a reduction in employees from 522 to 471[100][102]. - The Group has implemented timely health and safety measures for employees to support recovery and development[99].

香港交易及結算所有限公司以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。 China Dredging Environment Protection Holdings Limited 中 國 疏 浚 環 保 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：871） 截至二零二二年十二月三十一日止年度 全年業績公告 中國疏浚環保控股有限公司（「本公司」）及其附屬公司（統稱「本集團」）董事（「董事」） 會（「董事會」）宣佈本集團截至二零二二年十二月三十一日止年度之經審核綜合財 務業績連同截至二零二一年十二月三十一日止年度之經審核比較數字載列如下， 兩者均以中華人民共和國（「中國」）之法定貨幣人民幣（「人民幣」）呈列。 ...

Financial Performance - The company reported a total revenue of HK$243 million for the period, reflecting a significant increase compared to the previous year[8]. - The net profit margin improved to 15%, up from 10% in the same period last year, indicating better cost management and operational efficiency[8]. - The company reported a revenue of RMB 1.2 billion for the six months ended June 30, 2022, representing a year-on-year increase of 15%[14]. - Revenue for the six months ended June 30, 2022, was RMB 172,731,000, representing a 17.6% increase from RMB 146,807,000 in the same period of 2021[22]. - The Group recorded a loss of approximately RMB 5.9 million during the Reporting Period, compared to a profit of approximately RMB 176.3 million in the first half of 2021[19]. - The profit for the period was calculated after deducting total staff costs of RMB 30,560,000, which increased from RMB 28,364,000 in 2021[150]. - The loss attributable to owners of the Company for the period was RMB (17,626,000), compared to a profit of RMB 168,076,000 for the same period in 2021, indicating a significant decline[157]. Revenue Guidance and Growth Targets - The company has set a revenue guidance of HK$500 million for the next fiscal year, representing a growth target of approximately 25%[8]. - The company has set a revenue guidance of RMB 2.5 billion for the next fiscal year, reflecting an expected growth of 25%[14]. - New product launches are anticipated to contribute an additional RMB 300 million in revenue over the next six months[14]. Market Expansion and Strategic Initiatives - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[8]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[14]. - A strategic acquisition of a local competitor is being considered to enhance service offerings and operational capabilities[8]. - The company is exploring potential acquisitions to enhance its service offerings, with a budget of RMB 200 million earmarked for this purpose[14]. - A strategic partnership with local governments is expected to facilitate new project opportunities, potentially increasing project volume by 30%[14]. Research and Development - New product development initiatives are underway, with an investment of HK$50 million allocated for R&D in environmental protection technologies[8]. - Ongoing research and development efforts are focused on sustainable dredging technologies, with an investment of RMB 50 million allocated for 2022[14]. - The company is exploring partnerships with technology firms to integrate advanced analytics into its service delivery[8]. Cost Management and Operational Efficiency - The company aims to reduce operational costs by 10% through improved supply chain management and efficiency measures[8]. - The Group's operating costs increased by 10.0% to approximately RMB 144.3 million during the Reporting Period[29]. - The Group aims to improve operational efficiency by 15% through the implementation of advanced technologies in its processes[14]. - Marketing and promotion expenses decreased by 86.2% from approximately RMB 2.5 million to approximately RMB 0.3 million due to tightened cost control[32]. - Administrative expenses decreased by 34.3% from approximately RMB 24.1 million to approximately RMB 15.9 million, attributed to enhanced cost control measures[32]. Financial Position and Liabilities - Total equity as of June 30, 2022, amounted to approximately RMB 1,154.8 million, a slight decrease from approximately RMB 1,160.7 million as of December 31, 2021[33]. - Total liabilities were approximately RMB 1,047.0 million, representing a decrease of about 5.6% compared to the corresponding period last year[33]. - The Group's bank borrowings were secured by charges over certain dredgers and land owned by the Group, along with personal guarantees from key individuals[37]. - The Group's cash flow projections cover a period of not less than twelve months from the end of the reporting period, indicating a focus on future liquidity[102]. Shareholder Information and Corporate Governance - The Group issued and allotted 508,240,000 consolidated shares at a price of HK$0.20 per share, raising gross proceeds of approximately HK$101.6 million[36]. - The Company has determined that no interim dividend will be paid for the reporting period, consistent with the previous year[72]. - The Company has complied with all applicable code provisions of the Corporate Governance Code during the reporting period[66]. - All Directors confirmed compliance with the Model Code regarding securities dealings during the reporting period[81]. Segment Performance - The CRD Business segment generated revenue of approximately RMB 47.7 million, representing a 25.9% increase compared to the same period in 2021[24]. - The EPD and Water Management Business segment saw revenue decrease by 75.5% to approximately RMB 4.8 million due to fewer projects launched[25]. - Other Marine Business contributed approximately RMB 116.6 million in revenue, marking a 36.4% increase compared to the same period in 2021[29]. - Revenue from the Capital and Reclamation Dredging Business was RMB 47,708,000, up from RMB 37,896,000, indicating a growth of 26.5% year-over-year[106]. - Environmental Protection Dredging and Water Management Business revenue decreased to RMB 4,774,000 from RMB 19,457,000, a decline of 75.5%[106]. - Other Marine Business revenue increased to RMB 116,645,000 from RMB 85,542,000, representing a growth of 36.4%[106].

Financial Performance - The company reported a total revenue of HK$243 million for the year, with a significant increase compared to the previous year[9]. - The company's revenue for 2021 was RMB 387,389,000, representing a 35.3% increase from RMB 286,341,000 in 2020[17]. - For the financial year 2021, the Group recorded total revenue of approximately RMB 387.4 million, representing an increase of 35.3% compared to RMB 286.3 million in 2020[30]. - The net profit for 2021 was RMB 41,255,000, a significant recovery from a net loss of RMB 537,364,000 in 2020[17]. - The net profit for the Reporting Period was approximately RMB 41.3 million, a significant recovery from a net loss of approximately RMB 537.4 million in 2020[46]. - The Group achieved a gross profit of approximately RMB 34.9 million in 2021, compared to a gross loss in 2020[30]. - The profit attributable to owners of the company was RMB 22,593,000 in 2021, compared to a loss of RMB 526,583,000 in 2020[17]. - The Group's operating cost increased by about 6.8%, from approximately RMB329.9 million in 2020 to approximately RMB352.5 million in 2021[42]. Future Outlook and Growth Strategies - Future outlook includes an expected revenue growth of 20% for the next fiscal year, driven by new project acquisitions[2]. - Market expansion plans include entering two new provinces in China by the end of the next fiscal year[2]. - The company is considering strategic acquisitions to enhance its service offerings and market presence[2]. - The Group aims to leverage opportunities from the rapid development of China's offshore wind power industry to participate in more wind power construction projects[31]. - The Group plans to stabilize projects, teams, and management systems as a top priority for the upcoming year[31]. Operational Efficiency and Investments - The company is investing in new technology development, with a budget allocation of HK$50 million for R&D initiatives[2]. - The company plans to enhance its operational efficiency by implementing advanced dredging technologies[2]. - The Group invested RMB 230 million in a 2,300-ton self-propelled fixed-crane vessel to capitalize on the rapid development of marine wind power constructions in mainland China[59]. Corporate Governance and Management - The board emphasized the importance of corporate governance and compliance with the latest regulations[2]. - The company has a strong governance structure with independent non-executive directors contributing to strategic oversight[92]. - The Company has complied with all applicable code provisions under the Corporate Governance Code[113]. - The Board is committed to maintaining good corporate governance practices and procedures[112]. - The Company has established a remuneration committee responsible for reviewing the remuneration policy and structure for Directors and senior management, with no changes proposed during the Review Period[146][148]. Risk Management and Internal Controls - The risk management and internal control systems are designed to safeguard the Group's assets and ensure compliance with relevant regulations, although they can only provide reasonable assurance against material misstatement or loss[186]. - The Group's internal control systems are reviewed at least annually to ensure their effectiveness in managing risks[185]. - The Audit Committee reviewed key risk management and internal control issues identified by the external auditor, concluding that the systems are reasonably and adequately implemented with room for improvement[192]. Employee and Operational Insights - As of December 31, 2021, the Group had 522 employees, an increase from 454 in 2020, with total staff costs amounting to approximately RMB 56.7 million[68]. - The ongoing impact of COVID-19 has caused significant disruptions, including delays in project schedules and increased construction costs[30]. - The construction efficiency of various projects has decreased due to the pandemic, posing risks and pressures on the Group's operations[30]. Shareholder Communication and Meetings - The annual general meeting for the year ended December 31, 2020, was held on June 17, 2021, providing a platform for direct communication between the Board and Shareholders[199]. - The Company communicates with Shareholders through annual reports, interim reports, and statutory announcements[194]. - Resolutions at general meetings are taken by poll, with results posted on the Stock Exchange and Company's websites on the same day[199].

Financial Performance - The company reported a revenue of RMB 1.2 billion for the six months ended June 30, 2021, representing a year-on-year increase of 15%[29]. - The Group recorded a profit of approximately RMB 176.3 million for the reporting period, compared to a loss of approximately RMB 73.7 million in the first half of 2020, with profit attributable to shareholders at approximately RMB 168.1 million[54]. - Revenue for the six months ended June 30, 2021, increased to RMB 146,807,000, up 22.5% from RMB 119,935,000 in 2020[153]. - Gross profit for the same period was RMB 15,633,000, compared to a loss of RMB 14,571,000 in 2020, indicating a significant turnaround[153]. - Profit before tax reached RMB 181,213,000, a substantial increase from a loss of RMB 73,187,000 in the previous year[153]. - Total comprehensive income for the period was RMB 176,345,000, compared to a loss of RMB 73,677,000 in 2020[153]. - Basic earnings per share for the period was RMB 13.41, recovering from a loss of RMB 8.00 per share in 2020[153]. Revenue Segmentation - Revenue from the Capital and Reclamation Dredging (CRD) Business segment was approximately RMB 37.9 million, representing an increase of 30.5% from the corresponding period in 2020, primarily due to effective COVID-19 control in mainland China[62]. - The Environmental Protection Dredging and Water Management Business segment saw increased revenue due to the smooth progress of certain environmental protection dredging projects during the reporting period[55]. - The Environmental Dredging and Water Management segment generated revenue of approximately RMB 19.5 million, marking a significant increase of 488.9% compared to the same period in 2020[67]. - Other Marine Business contributed approximately RMB 85.5 million in revenue, reflecting a 2.5% increase from the previous year[68]. - The Property Management Business recorded revenue of approximately RMB 3.9 million, a decrease of 5.7% compared to approximately RMB 4.1 million in the same period of 2020[68]. Cost Management and Financial Position - The Group's operating costs slightly decreased by 2.5% from approximately RMB 134.5 million to approximately RMB 131.2 million[69]. - Administrative expenses decreased by 12.1% to approximately RMB 24.1 million, down from approximately RMB 27.5 million in the same period last year[78]. - Finance costs decreased by 32.6% to approximately RMB 17.4 million compared to the corresponding period last year[78]. - The Group's net current liabilities decreased to approximately RMB 317.8 million from RMB 557.4 million as of December 31, 2020, resulting in a current ratio of 0.65[82]. - Total liabilities as of June 30, 2021, were approximately RMB 1,158.7 million, a decrease of about 15.5% compared to the same period last year[82]. - The Group's gearing ratio improved to 43.9% from 74.2% as of December 31, 2020, primarily due to the redemption of Bonds during the Reporting Period[82]. Strategic Initiatives and Future Outlook - The company expects a revenue growth of 10-15% for the next fiscal year, driven by increased demand in environmental protection projects[29]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in regional contracts by 2023[29]. - A strategic acquisition of a local competitor is under consideration to enhance market share and operational capabilities[29]. - The Group plans to launch a newly built 2300-ton self-propelled fixed crane vessel for the marine wind-powered market in the second half of the year to capitalize on business opportunities in this sector[61]. - The management emphasized a focus on sustainable practices, aiming for a 25% reduction in carbon emissions by 2025[29]. Shareholder and Capital Structure - The Company issued 508,240,000 consolidated Shares at a price of HK$0.20 per share, raising gross proceeds of approximately HK$101.6 million[87]. - Approximately HK$98.4 million of the net proceeds from the share issuance was used to fully redeem Bonds, with the remaining balance of approximately HK$1.2 million allocated for general working capital[87]. - The 2021 Share Option Scheme was adopted on June 17, 2021, allowing for the issuance of up to 150,388,150 shares, which is 10% of the total shares in issue[129]. - The registered capital of Jiangsu Xingyu is RMB39,315,800[116]. Operational Challenges - The Group's overseas construction projects faced significant delays and impacts on production output due to the pandemic, despite domestic projects resuming normal operations[55]. - The Group continues to explore dredging projects in Indonesia, Bangladesh, Myanmar, and Thailand, despite challenges posed by the pandemic in these regions[55]. - The Group's construction projects in mainland China are expected to remain stable due to effective pandemic control and economic recovery[102]. Governance and Compliance - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[138]. - The Audit Committee reviewed the unaudited consolidated results for the reporting period prior to recommending them to the Board for approval[138]. - The Remuneration Committee is responsible for reviewing the remuneration packages of all executive Directors and senior management[141]. - The Nomination Committee assessed the independence of the independent non-executive Directors as part of its responsibilities[141].

Financial Performance - The company reported a total revenue of HK$243 million for the year 2020, reflecting a significant increase compared to the previous year[8]. - The net profit for the year was HK$50 million, representing a profit margin of approximately 20.6%[8]. - Revenue for the year ended December 31, 2020, was RMB 286,341,000, a decrease of 35.3% compared to RMB 442,368,000 in 2019[17]. - Net loss attributable to owners of the company for 2020 was RMB 526,583,000, compared to a loss of RMB 517,586,000 in 2019[17]. - The Group recorded total revenue of approximately RMB 286.3 million for the fiscal year 2020, a decrease of 35.3% from approximately RMB 442.4 million in the fiscal year 2019[32]. - The net loss for the Reporting Period was approximately RMB 537.4 million, an increase of about 3.0% compared to a net loss of approximately RMB 522.0 million for the year ended 31 December 2019[53]. - The Group's total equity was reported at (RMB 56,229) in 2020, down from RMB 400,343 in 2019[22]. - The Group's bank balances and cash were reported at RMB 119,000 in 2020, a decrease from RMB 128,000 in 2019[22]. - The Group's share capital was RMB 167,914 in 2020, with reserves showing a deficiency of (RMB 224,143)[22]. Operational Challenges - The Group faced unprecedented risks and pressures due to the COVID-19 pandemic, resulting in delays and increased construction costs[30]. - The pandemic's impact on operations was significant, with disruptions occurring both domestically and internationally throughout the year[41]. - The Group's dredging business revenue was significantly impacted by the COVID-19 pandemic, while the property rental services of the Xingyu International Houseware Plaza were less affected[69]. - The outbreak of COVID-19 disrupted the Group's operations, leading to a forced suspension of local operations until late March to early April 2020[61]. - The Group faced significant operational challenges due to the COVID-19 pandemic, impacting project progress and leading to a net loss of approximately RMB 537.4 million for the year[32]. Strategic Initiatives - The company plans to invest HK$100 million in R&D for new environmental protection technologies over the next three years[8]. - Future guidance estimates a revenue growth of 15% for the upcoming fiscal year, driven by new project acquisitions and market expansion[8]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market presence[8]. - The Group aims to stabilize projects, teams, and management systems as a top priority for the current year while seeking opportunities in the rapidly developing offshore wind power industry in China[34]. - The Group plans to participate in more wind power construction projects to establish a solid foundation for future development[35]. Governance and Management - The company has a diverse board with members holding various qualifications in economics, engineering, and management[117]. - The management team has a strong background in both public and private sectors, contributing to strategic decision-making[117]. - The Group's chief financial officer, Mr. Xu Wenyue, oversees daily accounting and financial matters in both the PRC and Hong Kong[126]. - The Company has adopted a Model Code for Directors' securities transactions, ensuring compliance with required standards throughout the Review Period[140]. - The Board of Directors consists of three executive directors and three independent non-executive directors, ensuring a balanced composition[146]. Shareholder Actions - The company completed a share consolidation on March 9, 2021, consolidating every two HK$0.10 shares into one HK$0.20 share, resulting in an authorized share capital of HK$1,000,000,000 divided into 5,000,000,000 shares[79]. - The company issued 508,240,000 new consolidated shares at a price of HK$0.20 per share on March 30, 2021, representing approximately 33.80% of the issued share capital[81]. - The gross proceeds from the share issuance were approximately HK$101.6 million, with net proceeds of approximately HK$99.6 million, used primarily to redeem bonds[81]. - The company redeemed bonds amounting to HK$98,359,241 on March 30, 2021, as part of the bond settlement agreement[84]. - The remaining balance of approximately HK$1.2 million from the share issuance was allocated for general working capital[81].