第一，天然成分构筑健康基底。茶叶鲜叶中蕴含的茶多酚、蛋白质、生物碱等物质，是其健康属性的核 心支撑。研究表明，茶多酚具有强大的抗氧化能力，儿茶素类成分对多种器官肿瘤具有预防和抑制作 用；黑木耳多糖与茶多酚协同作用，可显著改善动脉粥样硬化症状。这些天然成分的发现，让茶从"传 统饮品"升级为"功能性健康产品"，为茶产业向保健领域延伸奠定了科学基础。 在大健康产业蓬勃发展的浪潮中，中国茶产业迎来重要里程碑。经中国保健协会批准，中国保健协会茶 产业与健康分会正式成立，碧生源董事长赵一弘当选为首任会长。这一行业组织的诞生，不仅标志着茶 产业与健康领域的深度融合有了专业平台支撑，更在"中国国际保健博览会"上崭露头角，分会荣获"优 秀参展企业"荣誉称号，为传统茶产业注入强心剂。 在此背景下，"更健康更年轻，茶产业站在一个全新的起点"成为行业共识。当千年茶文化邂逅现代健康 理念，当传统制茶工艺碰撞年轻消费潮流，茶产业正以崭新姿态，从"饮品"向"健康解决方案"转型， 从"传统文化符号"向"国潮消费新宠"蜕变。 茶产业，传统养生文化的现代演绎 茶，作为中华文明的重要载体，自神农尝百草起，便与养生结下不解之缘。在中医理论中，茶不仅 ...

Financial Performance - The company achieved revenue of RMB 484.3 million for the year ended December 31, 2024, a decrease of 10.8% compared to RMB 542.9 million in 2023[15]. - The total comprehensive income for 2024 was RMB 16.8 million, recovering from a total comprehensive loss of RMB 358.6 million in 2023[15]. - The revenue from the four health teas in 2024 was RMB 256.6 million, down 11.3% from RMB 289.4 million in 2023, primarily due to strategic adjustments and a reduction in settlement prices[89]. - The revenue from weight loss products in 2024 was RMB 148.0 million, a decrease of 8.5% from RMB 161.8 million in 2023, attributed to a decline in market share of the orlistat product[89]. - The gross profit margin for 2024 increased to 67.3%, up 3.5 percentage points from 63.8% in 2023, due to optimization of less competitive products and a decrease in procurement costs for weight loss products[90]. - The sales cost for 2024 was RMB 158.5 million, a decrease of 19.4% from RMB 196.7 million in 2023[90]. - The other income for 2024 was RMB 11.8 million, slightly up from RMB 11.0 million in 2023, mainly from interest income and government subsidies[91]. - In 2024, the company's sales and marketing expenses amounted to RMB 199.4 million, a decrease of 37.8% from RMB 320.7 million in 2023, representing 41.2% of total revenue[92]. - Employee benefits expenses in 2024 decreased by RMB 81.9 million compared to 2023, primarily due to strategic adjustments in the operating model and a reduction in sales personnel[93]. - Advertising expenses in 2024 decreased by RMB 41.2 million from 2023, mainly due to reduced advertising spending[94]. - Administrative expenses for 2024 were RMB 89.5 million, down 41.5% from RMB 153.1 million in 2023, accounting for 18.5% of total revenue[97]. - Research and development costs in 2024 were RMB 29.4 million, a decrease of 15.8% from RMB 34.9 million in 2023, representing 6.1% of total revenue[101]. - The company recorded a total comprehensive income of RMB 16.8 million in 2024, a significant improvement from a comprehensive loss of RMB 358.6 million in 2023[105]. - The net cash inflow from operating activities for continuing operations in 2024 was RMB 10.5 million, compared to a cash outflow of RMB 33.0 million in 2023[107]. - The net cash outflow from financing activities in 2024 was RMB 103.8 million, primarily due to dividend distributions to shareholders[107]. - The company's other net income in 2024 was RMB 6.4 million, up from RMB 0.7 million in 2023, including investment income of RMB 2.7 million[102]. - The share of profit from investments accounted for using the equity method was RMB 5.1 million in 2024, compared to RMB 1.0 million in 2023[103]. - As of December 31, 2024, the company's financial assets measured at fair value through profit or loss amounted to RMB 794 million, a decrease from RMB 901 million as of December 31, 2023[108]. - The company holds approximately RMB 698 million in receivables measured at amortized cost through the fund, along with restricted cash and cash equivalents of about RMB 135 million[109]. - The group's cash and cash equivalents, including bank balances and deposits, totaled RMB 1,478 million as of December 31, 2024, down from RMB 2,885 million a year earlier[110]. - The company's capital expenditures for 2024 were RMB 50 million, a decrease from RMB 68 million in 2023[114]. - The total inventory as of December 31, 2024, was RMB 264.11 million, an increase from RMB 235.69 million in 2023, with inventory turnover days reduced to 58 days from 123 days[116]. - The company's debt-to-asset ratio as of December 31, 2024, was 15.2%, down from 21.4% a year prior[121]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures in 2024[118]. - The company has no significant contingent liabilities or guarantees as of December 31, 2024[122]. - The company has not approved any major investments or capital asset purchases as of the report date[120]. Operational Efficiency and Strategy - The company implemented a partnership mechanism in September 2023, which was fully rolled out in 2024 across e-commerce and OTC business segments, enhancing operational efficiency[16]. - The company expanded its offline sales network to nearly 300,000 non-prescription drug stores across 31 provinces, regions, and municipalities in China by the end of 2024[6]. - The company operates 63 online stores across 18 e-commerce platforms, actively embracing new retail formats such as O2O and B2C[6]. - The company aims to continue innovating and providing high-quality health products and services, positioning itself as a leader in the health industry[7]. - The company faced multiple challenges in 2024, including external environmental changes and insufficient domestic demand, but management responded proactively to achieve satisfactory operational results[15]. - The company will enhance its partner mechanism starting September 2024, focusing on profit-oriented incentives to improve long-term market development awareness among partners[17]. - By 2025, the company aims to optimize its product and business layout while continuing to invest in R&D to drive product innovation and enhance consumer experience[17]. - The company plans to strengthen strategic partnerships with top 100 national chains and diversify marketing activities to improve inventory turnover rates[17]. - The company will focus on profitability in its e-commerce operations, aiming to reduce operational and logistics costs while exploring new business models[17]. - The company will implement a performance management system and enhance employee training to improve operational efficiency and product supply assurance[18]. - The company is committed to adapting to market changes by modernizing the Bishi Yuan brand through social media and content marketing strategies[17]. - The company will actively explore new e-commerce models such as O2O, B2C, live streaming, and interest-based e-commerce to meet changing consumer purchasing scenarios[17]. - The company has streamlined its agency product structure, significantly improving operational quality and sales performance in key product categories[40]. - The company successfully upgraded and transformed its health products, expanding their market for liver protection, sleep aid, and immune enhancement[62]. - The company applied for 2 invention patents and received 3 invention patents and 1 utility model patent, enhancing the technological content of its products[62]. - The company implemented strict quality control measures, combining manual and equipment monitoring to ensure product quality parameters are met[67]. - The BI system underwent comprehensive optimization and performance upgrades to enhance data security and provide precise real-time analysis[67]. - The company aims to enhance its online and offline operations by leveraging member resources and deepening cooperation with offline businesses[78]. - The company is expanding its presence on new retail platforms like Douyin and Kuaishou, aiming to increase market share and improve advertising efficiency[81]. - The company is committed to optimizing its product and channel strategies to strengthen brand influence and market position, particularly through content marketing and collaboration with media platforms[82]. Innovation and R&D - The company holds 25 health food approvals and 117 patents, including 21 invention patents, demonstrating its commitment to innovation[6]. - The R&D department published two academic articles in core journals by July 2024 to support the registration of new weight loss products[65]. - In 2024, the company accelerated the development of new health food products in response to new industry regulations, enhancing its innovation capabilities[61]. - The company aims to focus on "weight management" and "gastrointestinal health" while expanding its product categories to include OTC drugs, health foods, and regular foods[76]. - The company plans to optimize product structure and innovate marketing models to achieve high-quality development by 2025[76]. - The company is committed to modern production management and continuous improvement of production processes to ensure high-quality products[66]. Market Trends and Consumer Behavior - The company forecasts that the consumer health product industry in China is expected to reach $62.401 billion by 2025, with a growth rate exceeding 6%[32]. - In China, 62% of consumers prioritize health in their daily lives, significantly higher than the US (41%) and the UK (29%)[34]. - 74% of Chinese consumers indicated they would increase health-related spending if overall consumption levels decline[34]. - The global health and wellness food market is projected to grow by $627.6 billion from 2025 to 2029, with a CAGR of 9.8%[34]. - The company ranks among the top sellers in health food and weight loss categories on Tmall and JD platforms[39]. - The e-commerce business achieved its best operational results since inception by optimizing product structure and marketing strategies[41]. - During the Double Eleven sales event, the Pinduoduo platform saw daily sales exceed 50,000 units for the main product, Fibrous Tea[45]. - The flagship store's monthly sales increased from over RMB 800,000 in September-October to over RMB 1 million in November-December[45]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes a systematic approach to ESG management, with a top-down strategy involving the board for decision-making and risk assessment[144]. - The ESG report is prepared in accordance with the Hong Kong Stock Exchange's guidelines, ensuring compliance and transparency in environmental, social, and governance matters[140]. - The board reviews and approves the ESG report annually to ensure it accurately reflects significant ESG issues and their impact on sustainable development[145]. - The company has established effective communication with stakeholders to understand their needs and concerns regarding ESG factors[145]. - The management team is committed to collecting relevant ESG data and reporting on performance regularly to ensure accountability[144]. - The company has a dedicated ESG leadership team, led by the CEO, to oversee the management and effectiveness of ESG strategies[144]. - The report includes quantifiable data to reflect the company's performance in environmental and social indicators, adhering to the principle of materiality[142]. - The company emphasizes the importance of stakeholder engagement for sustainable development, utilizing various communication channels to gather feedback and expectations[146]. - Key environmental, social, and governance (ESG) issues identified include air pollutant and greenhouse gas emissions management, supply chain management, and employee treatment[153]. - The company has implemented a "lean production" plan to optimize production processes, upgrade equipment, and improve energy efficiency, contributing to sustainable business development[157]. - No significant violations of environmental laws and regulations were reported during the reporting period, ensuring compliance with relevant legislation[158]. - The company actively promotes environmental awareness among employees and adheres to environmental laws and regulations[157]. - Key performance indicators related to emissions include measures to reduce industrial waste gas and improve overall air quality[160]. - The company's nitrogen oxide emissions decreased from 112.67 kg in 2023 to 108.09 kg in 2024, representing a reduction of approximately 4.6%[161]. - The total greenhouse gas emissions (Scope 1) reduced from 356.37 tons CO2 equivalent in 2023 to 331.69 tons CO2 equivalent in 2024, a decrease of about 6.9%[163]. - The total greenhouse gas emissions (Scope 2) decreased from 1,331.90 tons CO2 equivalent in 2023 to 1,224.83 tons CO2 equivalent in 2024, reflecting a reduction of approximately 8.0%[163]. - The total hazardous waste emissions dropped significantly from 10.35 tons in 2023 to 5.84 tons in 2024, a decrease of about 43.5%[169]. - The total electricity consumption decreased from 1,493,900 kWh in 2023 to 1,365,900 kWh in 2024, representing a reduction of approximately 8.6%[176]. - The total natural gas consumption reduced from 60,252 m³ in 2023 to 57,802 m³ in 2024, a decrease of about 4.1%[176]. - The total fuel consumption decreased from 38,118 liters in 2023 to 30,000 liters in 2024, reflecting a reduction of approximately 21.4%[176]. - The density of hazardous waste emissions per million RMB revenue improved from 0.02 tons in 2023 to 0.01 tons in 2024, indicating enhanced efficiency[169]. - The company implemented measures to reduce waste generation and promote recycling, including encouraging employees to minimize food waste and adopt paperless practices[170]. - The company aims to enhance resource efficiency and reduce ecological footprint through its "4R" strategy: Replace, Reuse, Reduce, and Recycle[172]. - Water consumption decreased from 15,068 tons in 2023 to 8,329 tons in 2024, a reduction of approximately 44.3%[179]. - Water consumption density improved from 27.75 tons per million revenue in 2023 to 17.20 tons per million revenue in 2024, a decrease of approximately 38.2%[179]. - Packaging materials consumed increased from 585 tons in 2023 to 710 tons in 2024, an increase of approximately 21.4%[180]. - Packaging material density improved from 1.08 tons per million revenue in 2023 to 1.47 tons per million revenue in 2024, an increase of approximately 36.1%[180]. - The company achieved its environmental targets, including a 3% reduction in air emissions density and greenhouse gas emissions density compared to 2021[182]. - The company has implemented policies to reduce environmental impact, including compliance with Chinese environmental laws and monitoring air pollutants[184]. - The company is committed to energy conservation, aiming for a 2% reduction in electricity and natural gas consumption density by 2024 compared to 2021[182]. - The company has established flexible work arrangements and preventive measures to mitigate climate-related operational risks[189]. - The company regularly monitors climate-related trends and regulations to manage potential legal and reputational risks[190]. - The company has set a three-year target plan for environmental impact reduction, with specific goals for waste and resource management[181]. Employee Management and Training - As of December 31, 2024, the company had 128 employees in mainland China and Hong Kong, down from 179 employees as of December 31, 2023[127]. - Employee costs, including director remuneration, amounted to RMB 56.9 million for the year ending December 31, 2024, a decrease from RMB 210.9 million in 2023[127]. - The company emphasizes the recruitment, motivation, and retention of suitable talent, investing significantly in continuous education and training programs for employees[127]. - The company appointed Mr. Feng Bing as an independent non-executive director starting October 2023, who has over 31 years of corporate management and consulting experience[133]. - Mr. Zhao Yihong serves as the CEO of the group, with a background detailed in the board introduction[134]. - The group has a strong management team with extensive experience in various sectors, including pharmaceuticals and media, enhancing operational efficiency[136][137]. - The company provides competitive compensation, including basic salary, performance pay, and bonuses, linked to employee performance[194]. - The company has a standard working time of 7.5 hours per day and offers various types of leave, including annual leave and maternity leave[193]. - There were no fatalities or work-related injuries reported in the past three years, maintaining a 0% fatality rate[199]. - The company emphasizes a balanced work-life environment and adheres to relevant labor laws and regulations[193]. - All employees receive an employee handbook detailing employment terms, compensation, and policies[196]. - The company has implemented a recruitment management system to ensure fair hiring practices[196]. - Regular internal safety training is conducted to enhance employee awareness of occupational safety[198]. - The company encourages employee participation in training programs to improve skills and career development[199]. - Percentage of trained employees: Male 69.62%, Female 30.38%[200]. - Percentage of trained employees by type: Senior Management 7.59%, Middle Management 12.66%, Junior Employees 79.75%[200]. - Average training hours per employee: Male 232 hours, Female 166 hours[200]. - Average training hours by employee type: Senior Management 300 hours, Middle Management 98 hours, Junior Employees 76 hours[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。 BESUNYEN HOLDINGS COMPANY LIMITED 碧生源控股有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：926） 全年業績公告 截至二零二四年十二月三十一日止年度 財務摘要 於二零二四年，本集團持續經營業務收入為人民幣484.3百萬元，較二零二三年的持續 經營業務收入人民幣542.9百萬元減少10.8%。 於二零二四年，本集團持續經營業務毛利為人民幣325.8百萬元，較二零二三年的持續 經營業務毛利人民幣346.2百萬元減少5.9%。於二零二四年，本集團的持續經營業務毛 利率為67.3%，較二零二三年的持續經營業務毛利率63.8%上升3.5個百分點。 於二零二四年，本集團持續經營業務的運營開支（包括銷售及市場營銷開支、行政開支 以及研究及開發成本）總額為人民幣318.2百萬元，較二零二三年的持續經營業務的運 營開支總額人民幣508.7百萬元減少37.4%。 – 1 – 於 ...

Financial Performance - The revenue from continuing operations for the first half of 2024 was RMB 254.3 million, a decrease of 25.8% compared to RMB 342.8 million in the same period of 2023[23]. - The group's gross profit from continuing operations for the first half of 2024 was RMB 173.4 million, a decrease of 22.1% compared to RMB 222.6 million in the same period of 2023[24]. - The gross profit margin for the first half of 2024 was 68.2%, an increase of 3.3 percentage points from 64.9% in the same period of 2023[24]. - Total operating expenses for the first half of 2024 were RMB 169.3 million, down 22.6% from RMB 218.8 million in the same period of 2023[24]. - The total comprehensive income for the first half of 2024 was RMB 8.5 million, compared to a total comprehensive loss of RMB 174.5 million in the same period of 2023[24]. - Revenue from the four tea products was RMB 135.4 million, a decrease of 17.1% year-on-year, while revenue from weight loss products was RMB 82.1 million, down 29.3% year-on-year[25]. - The company achieved a comprehensive income attributable to owners of RMB 8.5 million in the first half of 2024, a growth of 66.7% from RMB 5.1 million in the same period of 2023[25]. - The company reported a significant increase in total revenue from RMB 342,828,000 for the six months ended June 30, 2023, to RMB 254,286,000 for the same period in 2024, indicating a decline in performance[92]. - The company recorded a loss of RMB 116,219 thousand during the period, compared to a loss of RMB 7,813 thousand in the previous period[73]. Operational Highlights - The company has established partnerships covering nearly 290,000 OTC pharmacies and medical third-party terminals across 31 provinces, regions, and municipalities in China[2]. - The company operates 63 online stores across 18 e-commerce platforms, enhancing its market presence and product sales[2]. - The company continues to focus on herbal health and weight management, expanding its product line with new offerings such as Orlistat weight loss medication and probiotics[1]. - The company aims to maintain its industry-leading position by embracing new retail formats like Douyin and Kuaishou[2]. - The company expanded its offline OTC business to nearly 290,000 pharmacies across 31 provinces, regions, and municipalities in China[25]. - The e-commerce business operated 63 stores across 18 platforms for the sale of its products in the first half of 2024[25]. - The company implemented a new partner model for its e-commerce operations, leading to significant improvements in operational efficiency and cost reduction[29]. Research and Development - The company has received 26 health food approvals and holds 114 patents, including 20 invention patents, demonstrating its commitment to innovation[2]. - The company continued to advance R&D collaborations with universities, focusing on the scientific validation of health products, demonstrating significant efficacy in reducing disease risk factors[41]. - The company published 2 academic papers and obtained 1 utility model patent in the first half of 2024, supporting the development of new health products[42]. Marketing and Brand Strategy - The brand "Besunyen" has been recognized as a "China Famous Trademark" and has been awarded multiple accolades for credibility in the health product sector[2]. - The company is committed to providing high-quality health products and services, positioning itself as a leader in the health industry[2]. - The company targeted business professionals by advertising in high-end office elevators, effectively reaching the target audience and enhancing brand recall[36]. - The company expanded its marketing efforts in lower-tier cities, integrating products and services with local pharmacies to enhance consumer health awareness[37]. - The company implemented a content marketing strategy across social media platforms, driving sales growth for products like B420 coffee and PQQ cross-border products[39]. - The company established a deep partnership with influencers on Douyin, significantly enhancing brand exposure and achieving leading sales in the probiotic coffee category[32]. - During the Women's Day promotion, the company collaborated with top influencers on Kuaishou, achieving a single event sales GMV exceeding 20 million[33]. Financial Position and Cash Flow - Net cash inflow from operating activities for continuing operations was RMB 12.35 million in the first half of 2024, a significant decrease from RMB 44.31 million in the same period of 2023[56]. - The ending cash and cash equivalents balance was RMB 184.52 million as of June 30, 2024, down from RMB 264.96 million at the end of the same period in 2023[56]. - The Group's cash and cash equivalents, including bank balances, were RMB 2,481 million as of June 30, 2024, down from RMB 2,885 million as of December 31, 2023[58]. - Total inventory as of June 30, 2024, was RMB 198.58 million, down from RMB 235.69 million as of December 31, 2023[60]. - The Group's debt-to-asset ratio was 16.9% as of June 30, 2024, compared to 21.4% as of December 31, 2023[63]. - The company reported a net cash inflow from operating activities of RMB 12,354 thousand for the six months ended June 30, 2024, down from RMB 44,314 thousand in the same period of 2023, a decrease of about 72%[74]. - Cash and cash equivalents at the end of the period were RMB 184,518 thousand, compared to RMB 264,961 thousand at the end of the previous year, a decrease of approximately 30%[75]. Employee and Administrative Expenses - Employee benefits expenses decreased by RMB 48.2 million in the first half of 2024 compared to the first half of 2023, primarily due to a reduction in the number of sales personnel[50]. - Total administrative expenses for the first half of 2024 amounted to RMB 43.4 million, a 13.6% increase from RMB 38.2 million in the first half of 2023, mainly due to higher professional and consulting service fees[50]. - The group had 151 employees as of June 30, 2024, down from 179 employees as of December 31, 2023[66]. - Employee costs for the six months ended June 30, 2024, were RMB 24.5 million, a decrease of 70% from RMB 81.6 million in the same period of 2023[66]. Shareholder Information - The board proposed an interim dividend of HKD 0.9 per share, totaling approximately HKD 110,039,000, subject to shareholder approval[131]. - The total number of issued shares is 122,265,585[146]. - Zhao Yihong holds 62,975,657 shares, representing 51.51% of the total issued shares[145]. - Foreshore Holding Group Limited and its associated entities collectively own 61,219,437 shares, accounting for 50.07% of the total issued shares[147]. - The share option plan allows for a maximum issuance of 12,226,558 shares, which is 10% of the total issued shares[152]. - The share option plan was approved on April 11, 2024, and is valid for ten years[149]. - Each eligible participant in the share option plan can receive options not exceeding 1% of the total issued shares within any twelve-month period[153]. Compliance and Governance - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO[162][163]. - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[164]. - The interim financial information for the six months ending June 30, 2024, has been reviewed by the auditors[165]. - The board has confirmed compliance with the standard code of conduct for securities transactions by directors for the six months ending June 30, 2024[166].

Financial Performance - The revenue from continuing operations for the first half of 2024 was RMB 254.3 million, a decrease of 25.8% compared to RMB 342.8 million in the same period of 2023[1]. - The gross profit from continuing operations for the first half of 2024 was RMB 173.4 million, down 22.1% from RMB 222.6 million in the same period of 2023, with a gross profit margin of 68.2%, up from 64.9%[1]. - Operating expenses for continuing operations totaled RMB 169.3 million, a decrease of 22.6% from RMB 218.8 million in the same period of 2023[1]. - The total comprehensive income for the first half of 2024 was RMB 8.5 million, compared to a total comprehensive loss of RMB 174.5 million in the same period of 2023[2]. - Basic and diluted earnings per share for continuing operations were RMB 6.39, down from RMB 9.13 in the first half of 2023[2]. - Total revenue for the six months ended June 30, 2024, was RMB 254,286 thousand, with tea products contributing RMB 167,576 thousand and weight loss and other pharmaceuticals contributing RMB 86,710 thousand[14]. - Gross profit for the tea products segment was RMB 128,364 thousand, while the weight loss and other pharmaceuticals segment reported a gross profit of RMB 45,071 thousand[14]. - The operating profit for the continuing operations was RMB 11,655 thousand, with a profit from continuing operations of RMB 7,813 thousand[14]. - The company reported a net profit of RMB 5,130,000 for the six months ended June 30, 2023[15]. - The company incurred a net loss of RMB 326,000 from the sale of Zhuhai Kangbaina Pharmaceutical Co., Ltd.[24]. Assets and Liabilities - Non-current assets as of June 30, 2024, amounted to RMB 329.5 million, an increase from RMB 277.1 million as of December 31, 2023[5]. - Current assets totaled RMB 347.2 million as of June 30, 2024, down from RMB 427.9 million as of December 31, 2023[5]. - The total assets as of June 30, 2024, were RMB 676.7 million, compared to RMB 704.9 million as of December 31, 2023[5]. - Total liabilities decreased from RMB 150,973 thousand as of December 31, 2023, to RMB 114,248 thousand as of June 30, 2024, representing a reduction of approximately 24%[6]. - Total equity increased from RMB 553,970 thousand as of December 31, 2023, to RMB 562,435 thousand as of June 30, 2024, reflecting a growth of about 1.5%[6]. - The total current liabilities decreased from RMB 145,661 thousand to RMB 109,467 thousand, a decline of approximately 25%[6]. - Trade receivables decreased to RMB 34,466,000 as of June 30, 2024, down from RMB 48,286,000 as of December 31, 2023[37]. - Trade payables decreased to RMB 2,085,000 as of June 30, 2024, compared to RMB 16,547,000 as of December 31, 2023[38]. - The group’s cash and cash equivalents, including bank balances, were RMB 248.1 million as of June 30, 2024, compared to RMB 288.5 million as of December 31, 2023[74]. - The group’s debt-to-asset ratio as of June 30, 2024, was 16.9%, down from 21.4% as of December 31, 2023[80]. Dividends and Shareholder Information - The board proposed an interim dividend of HKD 0.9 per share, totaling approximately HKD 110 million, subject to shareholder approval[2]. - The board proposed an interim dividend of HKD 0.9 per share, totaling HKD 110,039,026.5, subject to shareholder approval[39]. - The interim report for the six months ending June 30, 2024, will be sent to shareholders and published on the company's website[94]. Operational Strategies and Market Performance - The group expanded its offline OTC business to nearly 290,000 pharmacies across 31 provinces and cities in China, while online sales were conducted through 63 stores on 18 e-commerce platforms[40]. - The group launched a new partner model for offline channels, focusing on deepening the layout of weight loss products while maintaining stable pricing across channels[41]. - The group successfully exported over 10,000 boxes of its Changrun Tea to the United States and launched the "Besunyen Vita Eslife WEIGHT HEALTH CAPSULE" in collaboration with New Zealand partners[46]. - The group implemented a short video collaboration mechanism with thousands of influencers on Douyin, enhancing brand exposure and reputation[47]. - The group achieved significant operational cost reductions by restructuring its e-commerce operations and optimizing service platform costs[44]. - The online and offline sales strategies included interactive promotions through chain pharmacies and live streaming to enhance customer engagement and sales[42]. - The group maintained strict price management to prevent malicious low pricing and ensure healthy market operations across various sales channels[43]. - The company has established a deep cooperation with Douyin and Kuaishou, developing multiple new products based on platform data and market trends[48]. - The company has expanded its marketing strategy by integrating short drama marketing, significantly increasing brand exposure and targeting specific consumer groups[49]. - The company has focused on the business weight loss market by utilizing elevator advertising in high-end office buildings, effectively reaching white-collar consumers[51]. Research and Development - The company has made significant advancements in R&D, including clinical trials for new health products in collaboration with universities[56]. - The company has filed for multiple patents, including a new product technology support patent for its "Bishengyuan Lingzhi Goji Fuling Tea"[57]. Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[89]. - The company plans to review its governance structure periodically to ensure effective leadership and decision-making[88]. - The company has complied with various legal regulations, with no significant non-compliance issues reported for the first half of 2024[83]. - The company has established a strong relationship with suppliers and customers, with no significant disputes reported[85]. Future Outlook - The company plans to address market changes and economic challenges in the second half of 2024 by optimizing mechanisms and focusing on reform outcomes[59]. - The company aims to enhance its competitiveness by expanding multi-channel product layouts and refining online and offline operations[60]. - The company plans to continue brand building and product development to meet the growing health demands of consumers[60].

2023 年 報 （於開曼群島註冊成立的有限公司） 股份代號: 926 http://ir.besunyen.com 年 報 2023 碧生源控股有限公 司 於2023年底，本集團線下銷售業務通過218家 經分銷商覆蓋了全國31個省、自治區及直轄市 的 近290,000家 非 處 方 藥（「OTC」）藥 房 及 醫 藥 第三終端。本集團線上電商業務在18個電商平 台上開設85個店舖進行四茶、奧利司他及本集 團其他產品的銷售。本集團主動擁抱銷售新形 勢 的 發 展，在 抖 音、快 手、O2O、B2C等新零 售方面不斷嘗試。透過以上成熟和創新的渠 道，本集團新產品可以更快速地進入市場，從 而使得本集團的產品銷售持續保持行業領先地 位。 本集團將繼續堅持以市場為導向，以科技為動 力，以質量為生命，不斷創新，努力為消費者 提供更多高品質的健康產品和服務，成為健康 產業的領航者。 | 目錄 | | | | | --- | --- | --- | --- | | 2 | 公司資料 | 97 | 獨立核數師報告 | | 4 | 董事長及首席執行官報告 | 103 | 綜合全面收益表 | | 27 | 管理層討論及分析 | ...

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。 全年業績公告 截至二零二三年十二月三十一日止年度 – 1 – – 2 – 綜合全面收益表 – 3 – 已終止經營業務 已終止經營業務年內虧損 9 (198,409) (27,820) 以下各方應佔： 本公司擁有人 — 持續經營業務 (159,105) (76,569) — 已終止經營業務 (140,138) (22,520) 非控股權益 — 持續經營業務 — — — 已終止經營業務 (58,271) (5,300) 年內本公司擁有人應佔每股虧損（人民幣元）： 每股基本虧損 — 持續經營業務 6 (1.30) (1.36) — 已終止經營業務 6 (1.15) (0.40) 每股攤薄虧損 — 持續經營業務 6 (1.30) (1.36) — 已終止經營業務 6 (1.15) (0.40) – 4 – – 5 – | --- | --- | --- | --- | |-------------------- ...

Financial Performance - The group's operating expenses for the first half of 2023 amounted to RMB 222.6 million, a decrease of 1.4% compared to RMB 225.7 million in the same period of 2022[10] - The group's gross profit from continuing operations for the first half of 2023 was RMB 222.2 million, a decrease of 8.3% compared to RMB 242.3 million in the same period of 2022[23] - The group's gross profit margin from continuing operations for the first half of 2023 was 64.8%, an increase of 4.8 percentage points compared to 60.0% in the same period of 2022[23] - The company's attributable comprehensive loss for the first half of 2023 was RMB 116.2 million, with a comprehensive income from continuing operations of RMB 1.3 million and a comprehensive loss from discontinued operations of RMB 117.5 million[24] - The company's revenue from continuing operations in the first half of 2023 was RMB 343.0 million, a decrease of 15.1% compared to the same period in 2022[32] - The company's total comprehensive loss for the first half of 2023 was RMB 174.5 million, with a comprehensive income from continuing operations of RMB 1.3 million and a comprehensive loss from discontinued operations of RMB 175.8 million[33] - The company's revenue in the first half of 2023 was RMB 343.0 million, a year-on-year decrease of 15.1%, with revenue from "Four Teas" at RMB 163.4 million (down 3.9%) and revenue from weight-loss drugs at RMB 116.2 million (down 3.1%)[35] - Sales cost for the first half of 2023 was RMB 120,827 thousand, compared to RMB 161,487 thousand in the same period of 2022[103] - Gross profit for the first half of 2023 was RMB 222,160 thousand, with a gross margin of 64.8%, up from 60.0% in 2022[103] - Sales and marketing expenses for the first half of 2023 were RMB 162.1 million, almost unchanged from RMB 162.4 million in 2022[104] - Employee benefits expenses decreased by RMB 6.6 million in the first half of 2023 compared to the same period in 2022, mainly due to a reduction in sales staff[105] - R&D costs for the first half of 2023 were RMB 18,609 thousand, accounting for 5.4% of revenue, up from 1.0% in 2022[107] - Total revenue for 2023 was RMB 342.987 million, a decrease from RMB 403.774 million in 2022[128] - Revenue from weight loss products in 2023 was RMB 116.184 million, accounting for 33.9% of total revenue, down 3.1% from 2022[128][129] - Revenue from other health products in 2023 was RMB 54.313 million, a significant decrease of 28.9% from 2022[128][129] - Marketing and promotional expenses in 2023 were RMB 66.251 million, a decrease of RMB 10.7 million from 2022, mainly due to reduced e-commerce platform promotion fees[131] - Administrative expenses in 2023 were RMB 41.8 million, a 29.3% decrease from 2022, driven by cost optimization and organizational restructuring[133] - The company's asset-liability ratio as of June 30, 2023, was 19.0%, down from 31.5% at the end of 2022[145] - The company sold 51% equity in target companies for a total consideration of RMB 137.7 million, resulting in a post-tax loss of RMB 175.8 million from discontinued operations[144] - Employee costs for the first half of 2023 were RMB 81.8 million, down from RMB 95.4 million in the same period in 2022[148] - The company's total inventory as of June 30, 2023, was RMB 35.3 million, a significant decrease from RMB 109.239 million in 2022[143] - Revenue for the first half of 2023 was RMB 343.0 million, a decrease of 15.1% compared to RMB 403.8 million in the same period of 2022[150] - Gross profit margin increased to 64.8% in the first half of 2023, up 4.8 percentage points from 60.0% in the same period of 2022, driven by higher-margin products and reduced procurement costs for weight-loss drugs[151] - Advertising expenses increased by RMB 18.7 million in the first half of 2023 compared to the same period in 2022[152] - R&D costs rose to RMB 18.6 million in the first half of 2023, up from RMB 4.2 million in the same period of 2022, primarily due to outsourced R&D activities[155] - The company recorded a total comprehensive loss of RMB 174.5 million in the first half of 2023, compared to a loss of RMB 9.1 million in the same period of 2022[156] - The company's total comprehensive loss attributable to owners for the six months ended June 30, 2023, was RMB 116,219 thousand, compared to a loss of RMB 6,621 thousand in the same period in 2022[177] - The loss from discontinued operations for the six months ended June 30, 2023, was RMB 117,501 thousand, compared to a loss of RMB 2,591 thousand in the same period in 2022[177] - The company's total assets decreased from RMB 1,537,138 thousand as of December 31, 2022, to RMB 911,200 thousand as of June 30, 2023[179][181] - The company's total liabilities decreased from RMB 484,728 thousand as of December 31, 2022, to RMB 173,082 thousand as of June 30, 2023[181] - The company's total equity decreased from RMB 1,052,410 thousand as of January 1, 2023, to RMB 738,118 thousand as of June 30, 2023[183] - The company's non-current assets decreased from RMB 794,366 thousand as of December 31, 2022, to RMB 334,251 thousand as of June 30, 2023[179] - The company's current assets decreased from RMB 742,772 thousand as of December 31, 2022, to RMB 576,949 thousand as of June 30, 2023[179] - The company's inventory decreased from RMB 109,239 thousand as of December 31, 2022, to RMB 35,300 thousand as of June 30, 2023[179] - The company's cash and cash equivalents increased from RMB 230,320 thousand as of December 31, 2022, to RMB 264,961 thousand as of June 30, 2023[179] - The company's total comprehensive loss for the six months ended June 30, 2023, was RMB 174,490 thousand, compared to a loss of RMB 9,110 thousand in the same period in 2022[183] Sales and Distribution - The group's offline sales business covered nearly 410,000 OTC pharmacies and supermarkets across 31 provinces, autonomous regions, and municipalities through 118 distributors and 98 sub-distributors in the first half of 2023[16] - The group's online sales team operated 120 stores on 36 e-commerce platforms, selling products including the four teas, Orlistat, and other group products in the first half of 2023[16] - The group's offline sales team directly serves nearly 100,000 OTC pharmacies and supermarkets[16] - The group has been actively exploring new retail channels such as Douyin, Kuaishou, O2O, and B2C to accelerate market entry for new products[16] - The company's offline sales business covered nearly 410,000 OTC pharmacies and third terminals across 31 provinces, autonomous regions, and municipalities through 118 distributors and 98 sub-distributors[26] - The company's online sales team operates 120 stores on 36 e-commerce platforms, focusing on products like "Four Teas" and Orlistat[26] - The company is actively exploring new retail models such as TikTok, Kuaishou, O2O, B2C, and cross-border e-commerce to accelerate market entry for new products[26] - The company implemented a "one-row-one-control" promotional marketing campaign in the weight loss and intestinal health product categories, focusing on core and regional key chains[27] - The company leveraged O2O, membership platforms, and live streaming to enhance consumer engagement and increase purchase intent[28] - The company has implemented a strategy to enhance sales through data-driven analysis, focusing on metrics such as distribution rate, number of stores, customer order growth, and single-store productivity[79] - The e-commerce division has improved inventory management, reducing inventory turnover time and minimizing losses from expired products, while also decreasing inventory levels and capital tied up in stock[85] - The company has strengthened platform communication and resource collaboration, securing favorable terms and policy support from platforms like JD.com during major promotions such as 38, 55, and 618[87] - The company has leveraged high-speed rail media to enhance brand influence, focusing on short-term high exposure strategies to rapidly cover target markets and boost brand momentum[90] - The company has targeted the family demographic in the new retail era, aiming to capture growth opportunities in lower-tier markets[92] - The company has engaged with Generation Z through campus activities and collaborations with academic institutions, promoting a healthy lifestyle and gathering creative insights for product development and marketing[94] - The company achieved a closed-loop operation system for product promotion and sales on the Douyin platform, enhancing the effectiveness of platform promotion and acquiring more high-quality new customers[114] - The company expanded its e-commerce channels by adding Baidu Health Mall and Dewu platform in the first half of 2023[115] - The company collaborated with China High-Speed Rail to reach a large number of passengers and release brand potential[118] Research and Development - The group has 38 health food approvals and 116 patented technologies, including 18 invention patents[4] - The group's production base for the four teas is located in Beijing's Fangshan District, with facilities and processes compliant with national GMP standards and certified by ISO9001, ISO22000, and HACCP systems[15] - The company completed the national key R&D project on the evaluation system and demonstration research platform for traditional Chinese medicine health products[95] - The company completed the development and academic research of a new product, Poria and Alisma Tablets, with weight-loss health functions[124] - The company plans to focus on R&D, market trends, and consumer demand, particularly in weight management and gastrointestinal health, while exploring new retail channels[127] Corporate Governance and Shareholding - Executive Director Zhao Yihong holds a 51.34% beneficial interest in the company's shares, including direct and indirect holdings through controlled entities[48][49] - Foreshore Holding Group Limited, controlled by Zhao Yihong, holds a 50.07% stake in the company's issued shares[54] - Peng Wei, a major shareholder, holds an 8.41% stake in the company's issued shares[54] - Everyoung Investment Holdings Limited, controlled by Peng Wei, holds a 7.59% stake in the company's issued shares[54] - The company's total issued shares as of June 30, 2023, amounted to 122,265,585 shares[56] - The company's board has decided not to declare any dividends for the six months ended June 30, 2023[63] Operational Efficiency and Cost Management - The company is optimizing its organizational structure and product portfolio to improve operational efficiency and profitability[35] - The company's wage, bonus, and other allowances expenses for the six months ended June 30, 2023, totaled RMB 4,687,000[68] - The company's pension costs for the six months ended June 30, 2023, amounted to RMB 143,000[68] - The company's total employee benefits expenses for the six months ended June 30, 2023, were RMB 4,830,000[68] - The company has signed non-cancellable operating leases for offices and staff dormitories, with future minimum lease payments not recognized as liabilities on the balance sheet[70] - The company's capital commitments for property, plant, and equipment as of June 30, 2023, amounted to RMB 7,211,000[69] - Capital expenditures for property, plant, and equipment totaled RMB 3.2 million in the first half of 2023, down from RMB 11.4 million in the same period of 2022[164] - Inventory levels decreased significantly, with finished goods inventory dropping to RMB 28.8 million as of June 30, 2023, from RMB 59.8 million as of December 31, 2022[166] - The company utilized RMB 125.9 million from a rights issue for its intended purposes as of June 30, 2023[163] - Capital commitments for property, plant, and equipment stood at RMB 7.2 million as of June 30, 2023, down from RMB 12.6 million as of December 31, 2022[195] - The company allocated funds for investments in funds and other financial assets to generate investment income while maintaining liquidity[194] Cash Flow and Financial Position - Cash and cash equivalents, including time deposits, amounted to RMB 377.9 million as of June 30, 2023, down from RMB 483.8 million as of December 31, 2022[161] - Bank borrowings decreased to RMB 5.0 million as of June 30, 2023, with an interest rate of 4.70%, compared to RMB 177.6 million as of December 31, 2022[162] - Operating cash flow from continuing operations increased to RMB 44,126 thousand in H1 2023, compared to a negative RMB 52,704 thousand in H1 2022[185] - Net cash inflow from operating activities reached RMB 88,197 thousand in H1 2023, a significant improvement from RMB 9,505 thousand in H1 2022[185] - Proceeds from the sale of financial assets at fair value through profit or loss amounted to RMB 263,170 thousand in H1 2023, slightly lower than RMB 411,898 thousand in H1 2022[185] - Net cash inflow from investing activities decreased to RMB 18,013 thousand in H1 2023 from RMB 85,016 thousand in H1 2022[185] - Net cash outflow from financing activities was RMB 71,313 thousand in H1 2023, higher than RMB 49,463 thousand in H1 2022[185] Sustainability and Corporate Responsibility - The company emphasized sustainable development, employee welfare, and maintaining strong relationships with suppliers and customers[197] - The company invested in employee education and training programs to enhance skills and collaboration[198] Financial Reporting Standards - The interim financial information was prepared in accordance with International Accounting Standard 34 "Interim Financial Reporting"[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。 碧 生 源 控 股 有 限 公司 BESUNYEN HOLDINGS COMPANY LIMITED （於開曼群島註冊成立的有限公司） （股份代號：926） 中期業績公告 截至二零二三年六月三十日止六個月 本集團的經營業績 本集團二零二三年上半年的持續經營業務收入為人民幣343.0百萬元，較二零二二年同 期的持續經營業務收入人民幣403.8百萬元減少15.1%。 本集團二零二三年上半年的持續經營業務毛利為人民幣222.2百萬元，較二零二二年同 期的持續經營業務毛利人民幣242.3百萬元減少8.3%。本集團二零二三年上半年的持續 經營業務毛利率為64.8%，較二零二二年同期的持續經營業務毛利率60.0%上升4.8個百 分點。 本集團二零二三年上半年持續經營業務的運營開支（包括銷售及市場營銷開支、行政開 ...

（於開曼群島註冊成立的有限公司） 股份代號: 926 年 報 2022 http://ir.besunyen.com 年 報 2022 碧生源控股有限公 司 公司簡介 碧生源控股有限公司（「本公司」）及其附屬公司 （統稱「本集團」）乃中華人民共和國（「中國」）功 能保健茶的領先供應商，主要從事功能保健茶 及藥品的研究開發、生產、銷售及推廣業務。 二十年來，本集團本著「草本健康，功能好茶」 的理念生產碧生源牌常潤茶和碧生源牌常菁茶 （原名「碧生源牌減肥茶」）（統稱「兩茶」），近年 來，本公司持續深耕兩茶業務並陸續推出碧生 源牌纖纖茶、碧生源牌清源茶（與兩茶統稱「四 茶」）等系列功能茶產品。截至二零二二年十二 月三十一日，四茶累計銷量突破58.43億袋，累 計銷售額超過人民幣78.77億元。本集團自二零 一五年四月開始銷售來利牌奧利司他減肥膠 囊，二零一七年十月收購中山萬漢製藥有限公 司（「中山萬漢」）及中山萬遠新藥研發有限公司 （「中山萬遠」，合稱「中山萬漢萬遠」），中山萬 漢萬遠的主要業務為研發、生產及銷售碧生源 牌奧利司他減肥膠囊等非處方藥品（「 OTC」）， 從而使得本集團的產品佈局從減肥保健茶市場 延伸 ...