Group 1 - The core viewpoint of the article highlights that Mobi Development has been actively repurchasing its shares, indicating management's confidence in the company's financial health and future prospects [1][3] - As of July 10, 2025, Mobi Development repurchased 83,000 shares at an average price of HKD 0.12 per share, totaling approximately HKD 9,918, with a cumulative repurchase of 3.821 million shares this year, representing 0.47% of the total share capital [1] - The recent share repurchase activity is seen as a strategy to stabilize the stock price and enhance investor confidence, while also potentially improving financial metrics such as earnings per share by reducing the number of shares in circulation [1] Group 2 - Mobi Development operates in the telecommunications sector, focusing on the research, development, and production of communication infrastructure equipment [2] - The company provides products and solutions for communication network construction, including base station antennas and RF devices, and maintains business relationships with various telecom operators [2] - The company's performance and growth prospects are influenced by the overall trends in the telecommunications industry, market competition, and its own technological innovation capabilities [2]

7月7日港股公司回购一览 | 代码 | 简称 | 回购股数 | 回购金额（万 | 回购最高价 | 回购最低价 | 年内累计回购金额 | | --- | --- | --- | --- | --- | --- | --- | | | | （万股） | 港元） | （港元） | （港元） | （万港元） | | 00700 | 腾讯控股 | 100.20 | 50058.94 | 502.000 | 494.400 | 3854195.72 | | 01299 | 友邦保险 | 550.00 | 37676.01 | 69.150 | 68.050 | 1635193.90 | | 00418 | 方正控股 | 1038.60 | 1174.36 | 1.150 | 1.110 | 3540.93 | | 01681 | 康臣药业 | 40.60 | 448.53 | 11.080 | 10.960 | 3689.99 | | 01907 | 中国旭阳 集团 | 175.00 | 435.95 | 2.510 | 2.480 | 14713.68 | | 02039 | 中集集团 | 48.83 | 309.43 ...

Financial Performance - In 2024, the company's revenue decreased to RMB 515.1 million, down 19.6% from RMB 640.8 million in 2023[23]. - Gross profit for 2024 was RMB 66.9 million, a decline of 30.5% compared to RMB 96.3 million in 2023[23]. - The net loss attributable to shareholders increased to RMB 120.5 million in 2024, compared to RMB 59.2 million in 2023, reflecting a worsening financial position[23]. - The gearing ratio increased to 10.7% in 2024 from 7.6% in 2023, indicating a rise in the company's financial leverage[23]. - The basic loss per share was approximately RMB 0.15[33]. - The net loss for 2024 was approximately RMB 120.53 million, representing a year-on-year increase of approximately 103.6%[33]. - The Group's gross profit decreased by approximately 30.5% to approximately RMB 66.93 million, with a gross profit margin dropping from approximately 15.0% in 2023 to approximately 13.0%[105]. - The Group's loss for the year was approximately RMB 120.53 million, resulting in a net profit margin of approximately -23.4% compared to -9.2% in 2023[127]. Asset and Liquidity Position - Total assets decreased to RMB 1,046.9 million in 2024 from RMB 1,247.7 million in 2023, indicating a reduction in the company's asset base[23]. - The current ratio fell to 1.11 in 2024 from 1.21 in 2023, suggesting a decline in short-term financial health[23]. - As of December 31, 2024, the Group reported net current assets of approximately RMB 75.98 million, a decrease from RMB 153.05 million in 2023[187]. - Cash and cash equivalents slightly decreased to approximately RMB 192.66 million in 2024 from RMB 198.67 million in 2023[192]. - Pledged bank deposits decreased to approximately RMB 78.74 million in 2024 from RMB 132.36 million in 2023, indicating a reduction in secured borrowings[192]. - The average trade payables turnover days increased to 431 days in 2024 from 387 days in 2023, indicating a longer payment period to suppliers[191]. Sales and Revenue Breakdown - In 2024, the Company's operating revenue was approximately RMB 515.15 million, representing a year-on-year decrease of approximately 19.6%[33]. - Sales of antenna systems decreased by approximately 36.4% to approximately RMB 162.53 million, down from approximately RMB 255.64 million in 2023[61]. - Sales of base station RF subsystems decreased by approximately 14.6% to approximately RMB 279.80 million, compared to approximately RMB 327.65 million in 2023[61]. - Revenue from antenna system products fell by approximately 36.4% to approximately RMB 162.53 million (2023: RMB 255.64 million), primarily due to reduced capital project construction by global telecommunications operators[69]. - Revenue from base station RF subsystem products decreased by approximately 14.6% to approximately RMB 279.80 million (2023: RMB 327.65 million), influenced by adjustments in production layouts by major international equipment manufacturer customers[76]. - Revenue from coverage extension solutions and other products increased by approximately 26.5% to approximately RMB 72.82 million (2023: RMB 57.56 million), driven by demand for extensive 5G network coverage[81]. Strategic Initiatives and Market Position - The company actively engaged in centralized procurement projects with domestic operators and expanded its international customer base amid a challenging market environment[26]. - The Group maintained strategic cooperative relationships with major domestic equipment manufacturers and deepened collaboration in essential business segments like antennas and RF[34]. - The Group is actively exploring new business areas such as "communications + energy saving/new energy," developing projects including renovation of old communities and photovoltaic projects[40]. - The Group aims to solidify its market position in traditional business areas while expanding into new business areas, including vertically derived ventures and new energy scenarios[43]. - The Group is focusing on new business areas such as "communications + energy saving/new energy" to establish a "second growth curve"[168]. - The Group has strategically expanded into new business areas such as "communications + energy saving/new energy," achieving breakthroughs in projects related to smart cities and community renovations[101]. Research and Development - Research and development expenses increased by approximately 4.0% to approximately RMB 65.04 million, reflecting increased investments in new products and businesses[112]. - The Group's R&D team completed the development of new technologies and products, positioning itself for further performance growth in the future[79]. - The Group plans to increase R&D investment to develop new product platforms that support customers in their technological evolution towards 5G and 6G[185]. - The Group is enhancing its R&D capabilities to align with customer needs and maintain a dominant position in the overseas market[167]. Market Trends and Future Outlook - By 2025, cumulative investment in 5G network construction in China is expected to reach RMB1.8 trillion, driving over RMB3.5 trillion in investment across the industrial chain[47]. - The penetration rate of 5G users in China is expected to exceed 70% by 2027[47]. - The global 5G market is expected to see an additional 80 operators from 60 markets entering the market in the coming years[48]. - The anticipated demand for comprehensive optimization of 5G network coverage is expected to drive growth in the communications sector[155]. - Emerging markets are projected to contribute over 45% of global growth in base station antennas and RF devices over the next five years[159]. - The global market size for base station antennas and RF is projected to exceed USD 30 billion by 2028[159]. Operational Efficiency - The average inventory turnover days improved to approximately 103 days in 2024 from 111 days in 2023, while average trade receivables turnover days increased to 214 days from 203 days[191]. - Distribution and selling expenses decreased by approximately 6.9% to approximately RMB 39.23 million, mainly due to reductions in various operational costs[110]. - Administrative expenses increased by approximately 3.6% to approximately RMB 77.85 million, driven by higher office and welfare expenses[111]. - Finance costs rose by approximately 39.9% to approximately RMB 4.59 million, mainly due to increased interest expenses[118]. Environmental and Compliance - The Group has not breached any environmental regulations and is committed to energy conservation and compliance with relevant laws in mainland China and Hong Kong[146][148]. - The Group's production process is characterized by low emissions and energy consumption, ensuring minimal environmental impact[146]. - The Group's future operational activities are expected to remain unaffected by environmental policies, as it strives for both cost reduction and environmental protection[147].

Financial Performance - Revenue decreased to approximately RMB 515.15 million, a decline of about 19.6% compared to the previous year[4] - Gross margin fell from approximately 15.0% in 2023 to about 13.0% in 2024[4] - Loss attributable to owners of the company was approximately RMB 120.53 million, with a basic loss per share of about RMB 14.93[4] - Total revenue for 2024 was RMB 515,148 thousand, a decrease of 19.6% compared to RMB 640,849 thousand in 2023[15] - The company reported a pre-tax loss of RMB 100,215 thousand for 2024, compared to a loss of RMB 52,806 thousand in 2023[15] - The net loss for the year was approximately RMB 120.53 million, with a net margin of about -23.4%[58] - The pre-tax loss for 2024 was approximately RMB 100.22 million, compared to RMB 52.81 million in 2023, with a pre-tax net margin of about -19.5%[56] Revenue Breakdown - The Antenna Systems segment reported a revenue of RMB 162,534 thousand, down 36.4% from RMB 255,635 thousand in 2023[15] - The Base Station RF Subsystem segment generated RMB 279,796 thousand, a decline of 14.6% from RMB 327,654 thousand in the previous year[15] - The Coverage Extension Solutions segment saw an increase in revenue to RMB 72,818 thousand, up 26.4% from RMB 57,560 thousand in 2023[15] - Revenue from external customers in China was RMB 235,526 thousand, down 28.7% from RMB 330,439 thousand in 2023[20] - Domestic sales revenue from telecom operators decreased by approximately 40.7% to about RMB 90.25 million, accounting for about 17.5% of total revenue[46] - Sales to international operators decreased by approximately 36.9% to about RMB 48.21 million, representing about 9.4% of total revenue[47] - Sales to international equipment customers increased by approximately 0.8% to about RMB 253.13 million, making up about 49.1% of total revenue[48] Expenses and Costs - Research and development expenses increased to RMB 65.04 million from RMB 62.51 million in the previous year[5] - Financial costs increased to RMB 4,593 thousand in 2024 from RMB 3,279 thousand in 2023, reflecting higher interest expenses[22] - Administrative expenses rose by approximately 3.6% to about RMB 77.85 million, driven by increases in various operational costs[53] - Other income decreased by approximately 9.7% to about RMB 31.41 million, primarily due to a reduction in government subsidies[50] - The company recognized government grants related to expenses amounting to RMB 11,973 thousand, compared to RMB 14,808 thousand in 2023[21] Assets and Liabilities - Total assets decreased to RMB 738.46 million from RMB 894.02 million year-on-year[6] - Current liabilities decreased to RMB 662.48 million from RMB 740.97 million in the previous year[6] - Trade receivables (net of credit loss provisions) decreased to RMB 226.77 million in 2024 from RMB 259.76 million in 2023[32] - Trade payables decreased to RMB 336.24 million in 2024 from RMB 369.37 million in 2023[34] - The company recorded net current assets of approximately RMB 75.98 million as of December 31, 2024, compared to RMB 153.05 million in 2023[80] - The company's cash and cash equivalents amounted to approximately RMB 192.66 million as of December 31, 2024, down from RMB 198.67 million in 2023[81] - The leverage ratio increased to approximately 10.7% as of December 31, 2024, compared to 7.6% in 2023, indicating a rise in bank borrowings[81] Corporate Governance - The company does not recommend the payment of any final dividend for the year[4] - The audit committee, consisting of three independent non-executive directors, reviewed the group's annual performance for the year ended December 31, 2024[89] - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[88] - The company has complied with the corporate governance code provisions during the year, with the exception of the separation of roles between the chairman and CEO[88] - The preliminary announcement of the group's consolidated financial position and results for the year ended December 31, 2024, has been confirmed by Deloitte[91] Market Outlook and Strategy - The company is focusing on new business areas such as "telecom + energy saving/new energy" to create a second growth curve, with multiple new projects in development[39] - The company is actively exploring opportunities in the "communication + energy-saving/new energy" sectors, which are expected to drive future growth[77] - By the end of 2024, global 5G connections are expected to exceed 2 billion, with projections indicating that by 2028, 5G users will surpass 4G, marking a significant shift in mobile communication technology[69] - Emerging markets are anticipated to contribute over 45% of the global increase in base station antennas and RF devices over the next five years, highlighting substantial growth potential[69] - The global market for base station antennas and RF is projected to exceed $30 billion by 2028, indicating a promising outlook for the industry[69] - The company is focusing on the development of new product platforms to address the evolution of 5G and 5G-A/6G technologies, aiming for steady market share expansion[78] Research and Development - The company has completed self-research and development of various RF technologies and products, which are expected to contribute to future revenue growth[43] - The company is continuously improving its R&D capabilities to align with customer needs, maintaining a strong position in the overseas market[72] - The company has developed multiple industry-leading antenna products, including green antennas and multi-band integrated antennas, to meet the growing demand for 5G and satellite communication technologies[75]

MOBI 摩托 MOBI Development Co., Ltd. 比 發 展 有 限 公 司 座 (Incorporated in the Cayman Islands with limited liability) ( 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ) Stock Code 股份代號：947 歷比智慧公交 202 中 期 報 告 INTERIM REPORT - 1 | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ...

Financial Performance - Revenue decreased by approximately 27.7% to about RMB 249.8 million for the six months ended June 30, 2024[2] - Gross margin declined from approximately 20.1% in the first half of 2023 to about 18.6% in the first half of 2024[2] - Loss attributable to owners of the company was approximately RMB 31.58 million, with a basic loss per share of RMB 3.92[3] - The company reported a pre-tax loss of RMB 31.56 million compared to a loss of RMB 3.40 million in the same period last year[3] - The company reported a pre-tax loss of RMB 31,563 thousand for the six months ended June 30, 2024, compared to a pre-tax loss of RMB 3,399 thousand for the same period in 2023[15] - Gross profit decreased by approximately RMB 2,309 million or about 33.2% to RMB 4,647 million in the first half of 2024, with a gross margin of approximately 18.6% compared to 20.1% in the same period last year[31] - The company recorded a loss of approximately RMB 3,158 million in the first half of 2024, an increase of about RMB 2,811 million or approximately 810.1% compared to the same period last year[39] Revenue Breakdown - Total revenue for the six months ended June 30, 2024, was RMB 249,805 thousand, a decrease of 27.7% from RMB 345,737 thousand for the same period in 2023[15] - Revenue from the antenna systems segment was RMB 82,615 thousand, down 22.7% from RMB 106,878 thousand in the previous year[11] - Revenue from the base station RF subsystem segment was RMB 138,329 thousand, a decrease of 36.6% compared to RMB 217,900 thousand in the prior year[11] - Revenue from the Chinese market was RMB 110,929 thousand, down from RMB 133,746 thousand in the same period last year[13] - Revenue from major domestic telecom operators decreased by approximately 20.2% to about RMB 44.83 million, accounting for approximately 17.9% of total revenue[29] - Sales to Chinese equipment manufacturers decreased by approximately 32.2% to about RMB 44.88 million, representing approximately 18.0% of total revenue[29] - Direct sales to international operators decreased by approximately 12.0% to about RMB 31.68 million, accounting for approximately 12.7% of total revenue[30] - Sales to international equipment manufacturers decreased by approximately 33.6% to about RMB 119.7 million, making up approximately 47.9% of total revenue[30] Expenses and Costs - Research and development expenses remained stable at approximately RMB 35.91 million compared to RMB 35.78 million in the previous year[3] - The company incurred financial costs of RMB 2,063 thousand, down from RMB 3,079 thousand in the previous year[16] - Other income and expenses decreased by approximately 36.6% to RMB 1,864 million in the first half of 2024, primarily due to a reduction in non-operating income[32] - Distribution and selling expenses decreased by approximately 12.2% to RMB 1,923 million in the first half of 2024, attributed to reductions in various operational costs[33] - Administrative expenses decreased by approximately 5.7% to RMB 3,944 million in the first half of 2024, due to enhanced cost control measures[34] - R&D expenses increased by approximately 0.4% to RMB 3,591 million in the first half of 2024, mainly due to increased travel and material costs[35] - Financing costs decreased by approximately 33.1% to RMB 206 million in the first half of 2024, primarily due to reduced bank loan interest expenses[36] Assets and Liabilities - Total assets decreased from RMB 894.02 million as of December 31, 2023, to RMB 800.04 million as of June 30, 2024[4] - Current liabilities decreased from RMB 740.97 million to RMB 667.47 million during the same period[4] - Trade receivables decreased from RMB 259.76 million to RMB 245.01 million[5] - Cash and cash equivalents decreased from RMB 198.67 million to RMB 188.94 million[5] - As of June 30, 2024, the company reported net current assets of approximately RMB 132.6 million, a decrease from RMB 153.1 million as of December 31, 2023[47] - The leverage ratio as of June 30, 2024, was approximately 8.8%, an increase from 7.6% as of December 31, 2023[47] - The average inventory turnover days increased to approximately 132 days as of June 30, 2024, compared to 125 days for the same period in 2023[47] - The average turnover days for trade receivables increased to approximately 238 days as of June 30, 2024, compared to 201 days for the same period in 2023[47] Strategic Initiatives and Future Outlook - The company achieved a significant breakthrough in green antenna technology, with expectations for mass delivery in the second half of 2024[25] - The company plans to continue optimizing its cost structure to enhance operational efficiency, with overall expenses decreasing compared to the same period last year[24] - The company maintains its position as a key supplier for major customers while actively expanding into new growth areas, particularly in the "communication energy-saving" sector[24] - Future sales are expected to benefit from the gradual release of network construction demands from domestic and overseas operators in the second half of 2024[25] - The company plans to expand into diversified markets and customer groups, focusing on "communication + energy saving/renewable energy" as a second growth curve[40] - The global 5G network construction is progressing steadily, with expectations for significant development opportunities in the future, including over 420 operators expected to commercialize 5G networks by 2025[40] - The company aims to become a leading global supplier of mobile communication RF technology, continuously expanding its customer pipeline and maintaining technological leadership in products[42] - The company is actively exploring new business areas in energy-saving and renewable energy, with ongoing projects in photovoltaic solutions and smart city applications[45] Customer and Market Dynamics - Major customers contributed significantly to sales, with customer A1 generating RMB 44,875 thousand and customer B1 contributing RMB 114,973 thousand for the six months ended June 30, 2024[12] - Customized antenna sales increased by 100% year-on-year to approximately RMB 7.03 million, reflecting the company's responsiveness to customer needs[25] - The company is confident in its market share growth in base station antennas and RF subsystems due to ongoing network construction demands[42] - The company is focused on expanding its presence in emerging markets, increasing brand exposure through international exhibitions[42] - The company achieved breakthroughs in government and enterprise network customers, with several billion-level projects in negotiation stages, indicating strong future growth potential[43] Dividend and Financial Commitments - The company did not declare any interim dividends for the six months ended June 30, 2024[19] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024[52] - The company has capital commitments of approximately RMB 13.88 million related to the acquisition of properties, plants, and equipment as of June 30, 2024[51] - The company has approximately RMB 72.98 million in bank balances pledged to banks for financing as of June 30, 2024[50] - The company has no significant contingent liabilities as of June 30, 2024[51]

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Financial Performance - Revenue for 2023 was RMB 640.8 million, a decrease of 6.7% from RMB 687.0 million in 2022[22]. - Gross profit for 2023 was RMB 96.3 million, down from RMB 106.8 million in 2022[22]. - Net loss attributable to shareholders for 2023 was RMB 59.2 million, compared to a net loss of RMB 229.8 million in 2022, indicating an improvement[22]. - The Group's gross profit decreased by approximately 9.9% to approximately RMB 96.31 million, with a gross profit margin declining from approximately 15.6% in 2022 to approximately 15.0%[108]. - The net loss for 2023 was approximately RMB 59.20 million, representing a year-on-year decrease of approximately 74.2%[31]. - The Group's loss for the year was approximately RMB 59.20 million in 2023, compared to a loss of approximately RMB 229.76 million in 2022, resulting in a net profit margin of approximately -9.2%[129]. Assets and Liabilities - Total assets decreased to RMB 1,247.7 million in 2023 from RMB 1,310.2 million in 2022[22]. - The current ratio slightly decreased to 1.21 in 2023 from 1.25 in 2022[22]. - The gearing ratio increased to 7.6% in 2023 from 2.9% in 2022, indicating higher financial leverage[22]. - As of December 31, 2023, the Group had net current assets of approximately RMB 153.05 million, a decrease from RMB 186.29 million in 2022[199]. Operational Efficiency - Inventory turnover days improved to 111 days in 2023 from 124 days in 2022[22]. - Accounts receivable turnover days improved to 203 days in 2023 from 222 days in 2022[22]. - The average inventory turnover improved to approximately 111 days in 2023 from 124 days in 2022, indicating better working capital management[200]. - The average receivables turnover improved to approximately 203 days in 2023 from 222 days in 2022, reflecting enhanced efficiency in managing trade receivables[200]. Market Position and Strategy - The Group maintained its position as a key supplier for major domestic equipment manufacturers, achieving stable order fulfillment and large-scale shipments[29]. - The domestic market sales showed significant growth compared to 2022, driven by the successful execution of bid-winning projects[32]. - The Group's strategic focus will continue on market driving, technology R&D, and cost improvement to enhance core competitiveness[30]. - The Group is exploring new business areas such as photovoltaic and smart city projects, aiming to attract new customer segments[38]. - The Group anticipates that the recovery of international production bases will provide continuous growth opportunities in the future[37]. - The Group aims to optimize customer size and structure, which is expected to become a new performance growth segment[38]. - The Group aims to enhance its comprehensive competitiveness and achieve steady growth by optimizing its customer base and structure, and by implementing a differentiated competitive strategy[58]. Sales Performance - In 2023, the Company's operating revenue was approximately RMB 640.85 million, representing a year-on-year decrease of approximately 6.7%[31]. - Sales of antenna systems increased by approximately 23.5% to approximately RMB 255.64 million, while sales of base station RF subsystems decreased by approximately 19.4% to approximately RMB 327.65 million[63]. - Revenue from antenna system products increased significantly by approximately 23.5% to approximately RMB 255.64 million (2022: approximately RMB 207.00 million), driven by centralized procurement projects from major domestic operators[76]. - Sales revenue to domestic operators increased significantly by approximately 71.9% to approximately RMB 152.10 million, accounting for approximately 23.7% of total revenue[92]. - Direct sales to international operators decreased by approximately 13.3% to approximately RMB 76.38 million, accounting for approximately 11.9% of total revenue[100]. - Sales to international equipment manufacturer customers decreased by approximately 31.1% to approximately RMB 251.16 million, accounting for approximately 39.2% of total revenue[104]. - The Group's revenue from major domestic equipment manufacturers remained stable with a slight increase of approximately 1.0% to approximately RMB 143.38 million, accounting for approximately 22.4% of total revenue[96]. Research and Development - The Group has undertaken multiple R&D projects from both domestic and overseas customers, laying a foundation for future sales revenue growth[183][184]. - The Group plans to increase investment in R&D and develop new product platforms to adapt to the evolution of 5G technology and application innovation[194][195]. - The Group aims to enhance core competitiveness through technological innovation and customer demand alignment[70]. Future Outlook - The Group is optimistic about future growth opportunities in new business areas such as photovoltaic and smart city projects[86]. - The gradual resumption of capital project construction and exploration of 5G applications are expected to create new sources of growth for the Group[86]. - By 2025, it is estimated that there will be 6.50 million 5G base stations worldwide, indicating significant future market opportunities[167]. - The market size of the 5G base station RF industry is expected to exceed RMB 60 billion by 2025, driven by increasing RF investment in base stations[187][188]. Competitive Landscape - The Group's antenna system and RF subsystem products face varying levels of competition, which may necessitate price reductions and increased capital expenditures, potentially impacting profit margins[151]. - The Group's competitive advantage in deploying 5G overseas is strengthened by its leading technology and accumulated experience in the field[183][184]. - The Group has successfully maintained its competitive advantage in the overseas market through continuous technology accumulation and market expansion, winning bids from international operators[179]. Compliance and Sustainability - The Group has complied with all relevant laws and regulations in mainland China and Hong Kong, with no material breaches reported as of December 31, 2023[154]. - The Group's production process is characterized by low emissions and energy consumption, aligning with environmental regulations and policies[156].

Financial Performance - Revenue decreased to approximately RMB 640.85 million, a decline of about 6.7% compared to the previous year[4] - Gross profit margin fell from approximately 15.6% in 2022 to about 15.0% in 2023[4] - Loss attributable to owners of the company was approximately RMB 59.20 million[4] - Basic loss per share was approximately RMB 0.0728[4] - No final dividend is recommended for the year[4] - The company reported a pre-tax loss of RMB 52,806,000, significantly improved from a loss of RMB 222,082,000 in 2022[17] - The company reported a loss attributable to equity holders of RMB 59.195 million in 2023, compared to a loss of RMB 229.761 million in 2022[36] - The net loss for the year was approximately RMB 59.20 million, with a net margin of about -9.2% compared to -33.4% in 2022[69] - Gross profit decreased by approximately 9.9% to about RMB 96.31 million, with a gross margin dropping from approximately 15.6% in 2022 to about 15.0% in 2023[58] Revenue Breakdown - Total revenue for 2023 was RMB 640,849,000, a decrease of 6.7% from RMB 687,000,000 in 2022[17] - Antenna Systems revenue increased to RMB 255,635,000, up 23.5% from RMB 206,999,000 in 2022[21] - Base Station RF Subsystem revenue decreased to RMB 327,654,000, down 19.4% from RMB 406,628,000 in 2022[21] - Coverage Extension Solutions revenue decreased to RMB 57,560,000, down 21.5% from RMB 73,373,000 in 2022[21] - Major customer A1 contributed RMB 242,973,000 to total revenue, down 30.4% from RMB 348,959,000 in 2022[22] - Revenue from China increased to RMB 330,439,000, up 18.9% from RMB 278,030,000 in 2022[23] - The company's sales revenue from domestic operators increased significantly by approximately 71.9% to about RMB 152.10 million, accounting for approximately 23.7% of total revenue[53] - Sales to international equipment manufacturer customers fell by approximately 31.1% to about RMB 251.16 million, representing about 39.2% of total revenue[57] Expenses and Costs - Research and development expenses decreased to RMB 62.51 million from RMB 86.30 million[5] - Financial costs decreased to RMB 3,279,000, down 34.1% from RMB 4,970,000 in 2022[26] - Distribution and selling expenses decreased by approximately 6.6% to about RMB 42.16 million, attributed to reductions in various operational costs[62] - Administrative expenses decreased by approximately 15.9% to about RMB 75.17 million, mainly due to lower spending on wages and other operational costs[63] - Financing costs decreased by approximately 34.0% to about RMB 3.28 million, primarily due to reduced bank loan interest expenses[65] - Other income decreased by approximately 11.5% to about RMB 34.77 million, primarily due to a reduction in bank deposit interest income[60] Assets and Liabilities - Total assets decreased to RMB 894.02 million from RMB 926.94 million[7] - Current liabilities remained stable at RMB 740.97 million compared to RMB 740.65 million in the previous year[7] - Cash and cash equivalents increased to RMB 198.67 million from RMB 174.28 million[7] - Trade receivables decreased to RMB 259.758 million in 2023 from RMB 302.581 million in 2022[37] - Trade payables decreased to RMB 369.369 million in 2023 from RMB 403.729 million in 2022[39] - As of December 31, 2023, the company's net current assets were approximately RMB 153.05 million, a decrease from RMB 186.29 million in 2022[92] - The company recorded inventory of approximately RMB 149.92 million as of December 31, 2023, down from RMB 180.84 million in 2022[92] - The average turnover days for inventory decreased to approximately 111 days in 2023 from 124 days in 2022[94] Research and Development - Research and development expenses decreased by approximately 27.6% to about RMB 62.51 million, mainly due to reductions in wages and material costs[64] - The company continues to enhance R&D investment and improve the conversion rate of R&D projects, focusing on multi-beam antennas and FDD+TDD antennas[49] - The company plans to enhance its R&D investment to develop new product platforms in response to the evolution of 5G technology and application innovations[91] Market and Competition - The company faces competition in its antenna systems, base station RF subsystems, and coverage extension solutions, which may lead to price reductions and increased capital expenditures, negatively impacting profit margins and financial performance[75] - The company aims to expand its overseas operator market and deepen strategic partnerships with international equipment manufacturers to enhance its global market share[82] - The company is committed to becoming a leading supplier of RF technology solutions for global system equipment manufacturers and telecom operators, maintaining a competitive edge in product technology[83] - The company anticipates that the market size of the 5G base station RF industry will exceed RMB 60 billion by 2025, driven by increasing RF investment in base station construction[90] Corporate Governance - The company is currently in a development phase, with the same individual serving as both Chairman and CEO to provide consistent leadership[102] - The audit committee, consisting of three independent non-executive directors, has reviewed the annual performance for the year ending December 31, 2023[103] - The company is committed to maintaining high levels of corporate governance to protect shareholder interests and enhance corporate value[102] - The financial data for the year ending December 31, 2023, has been confirmed by Deloitte Touche Tohmatsu, aligning with the audited consolidated financial statements approved by the board[105] Future Outlook - The company aims to solidify its business segments in antennas and base station RF subsystems while exploring valuable market opportunities in new business areas[46] - The company is actively exploring new business areas such as energy-saving and renewable energy, gradually diversifying its customer structure[53] - The company has successfully implemented multiple new communication scenarios in the "communication + new energy/saving" sector, contributing to its growth[90] - The company anticipates more revenue recognition in 2024 due to deferred income from domestic operator projects[53]

Financial Performance - The Group's unaudited consolidated revenue for the six months ended June 30, 2023, was approximately RMB 345.7 million, representing an increase of approximately 6.9% compared to RMB 323.3 million in the same period of 2022[21]. - The gross profit for the same period was RMB 69,560,000, up from RMB 45,345,000, reflecting a significant improvement in profitability[199]. - The loss before taxation narrowed to RMB 3,399,000 compared to a loss of RMB 52,939,000 in the previous year, showing a substantial improvement[199]. - The loss attributable to owners of the Company for the period was RMB 3,470,000, significantly lower than RMB 53,044,000 in the same period last year[199]. - Basic and diluted loss per share improved to RMB 0.43 from RMB 6.50, indicating a positive trend in financial performance[199]. Revenue Breakdown - Sales of antenna system products decreased by approximately 1.8% to approximately RMB 106.9 million, while sales of base station RF subsystem products increased significantly by approximately 28.3% to approximately RMB 217.9 million[21]. - Revenue from some projects is expected to be recognized in the second half of 2023, positively impacting the Group's full-year revenue[22]. - Revenue from antenna system products decreased by approximately 1.8% to approximately RMB106.9 million in the first half of 2023 compared to RMB108.9 million in the same period of 2022[28]. - Revenue from base station RF subsystem products increased by approximately 28.3% to approximately RMB217.9 million in the first half of 2023 compared to RMB169.9 million in the same period of 2022[32]. - Sales of coverage extension solution products and other products decreased significantly by approximately 53.0% to approximately RMB 20.96 million[21]. Market and Business Development - The Group achieved further breakthroughs in both domestic and overseas markets, winning centralized procurement bids from major domestic operators[22]. - The Group plans to focus on the global market and deepen participation in the construction of global communications networks[22]. - The Group is expanding its presence in overseas operator markets, aiming to increase its global market share in the long term[83]. - The Group believes there is continuous growth potential for base station RF subsystem products with the advancement of global 5G network construction[33]. - The application of "5G+" across various industries is expected to drive significant demand for base station construction in China[102]. Cost Management and Profitability - The gross profit margin increased significantly year-on-year, and profitability continued to improve due to effective cost management and optimization of the expense structure[22]. - The overall expense scale has declined, enhancing operational efficiency[22]. - Distribution and selling expenses decreased by approximately 10.1% to approximately RMB 21.90 million, mainly due to reductions in various operational costs[57]. - Administrative expenses decreased by approximately 5.8% to approximately RMB 41.82 million, attributed to improved expense control measures[63]. - Research and development expenses decreased by approximately 24.5% from approximately RMB 47.40 million in the first half of 2022 to approximately RMB 35.78 million in the first half of 2023[64]. Shareholder Information - The substantial shareholder Fangyi Collaboration Holdings Limited held 230,607,300 shares, accounting for 28.40% of the company's issued capital[151]. - Li Xiaoyong, another substantial shareholder, owned 52,679,000 shares, which is 6.49% of the company's issued capital[151]. - Director Hu Xiang held 26,102,500 shares and 1,500,000 underlying shares, totaling 27,602,500 shares, representing 3.40% of the company's issued capital[142]. - As of June 30, 2023, the total number of ordinary shares in respect of which options had been granted and remained outstanding was 33,911,000, representing approximately 4.18% of the total ordinary shares in issue[153]. - The number of share options granted and outstanding decreased from 38,431,000 in 1H 2022 to 33,911,000 in 1H 2023[153]. Corporate Governance - The Company has maintained compliance with the Corporate Governance Code, except for the deviation of code provision A.2.1 regarding the roles of Chairman and CEO[185]. - The audit committee reviewed the Group's financial statements and confirmed compliance with applicable accounting standards and legal requirements[193]. - The Company has adopted the Model Code for Securities Transactions by Directors, with all directors confirming compliance during the reporting period[186]. - The company is committed to high standards of corporate governance to maximize operational efficiency and shareholder returns[183]. - The company has adopted a stringent system to avoid potential conflicts of interest in transactions involving directors and connected persons since December 17, 2009[172][173].