Financial Performance - In 2023, the Group achieved operating revenue of RMB1.22 billion, representing a year-on-year increase of 28.4%[18] - The adjusted net profit for 2023 was RMB227 million, reflecting a year-on-year increase of 60.4%[18] - Total revenue increased by 28.4% from RMB951.5 million in 2022 to RMB1,221.8 million in 2023, driven by the increase in long-form drama episodes and rapid growth in overseas business[28] - Adjusted net profit rose by 60.4% from RMB 141.8 million in 2022 to RMB 227.4 million in 2023, driven by increased long drama output and effective cost control[96] - The company reported a net profit margin of 12% for 2023, up from 10% in the previous year, indicating improved operational efficiency[174] Revenue Breakdown - Revenue from overseas business reached RMB38.814 million, an increase of 89.1% year-on-year[4] - Revenue from long-form drama series rose by 24.3% from RMB944.6 million in 2022 to RMB1,174.4 million in 2023, with 116 episodes broadcasted in 2023, an increase of 11 episodes from 2022[31] - Revenue from short drama series surged by 1,241.7% from RMB2.4 million in 2022 to RMB32.2 million in 2023, reflecting the company's expansion in production capacity and quality content[33] - Revenue from other businesses increased by 237.8% from RMB4.5 million in 2022 to RMB15.2 million in 2023, primarily due to the growth in the artiste management business[34] - Revenue from overseas distribution increased by 89.1% year-on-year, with the establishment of "Linmon International" to focus on overseas content distribution and localized production[64][74] Cost and Expenses - Cost of sales rose by 28.2% from RMB577.5 million in 2022 to RMB740.2 million in 2023, mainly due to the increase in the number of drama series broadcast[35] - Selling and distribution expenses decreased by 11.9% from RMB 105.6 million in 2022 to RMB 93.0 million in 2023, mainly due to a reduction in the number of drama series broadcasts[42] - Administrative expenses decreased by 26.6% from RMB 280.9 million in 2022 to RMB 206.2 million in 2023, primarily due to a reduction in listing expenses and share-based payment expenses[42] - Finance costs decreased by 41.5% to RMB 2.4 million for the year ended December 31, 2023, compared to RMB 4.1 million in 2022, mainly due to a decrease in expenses on additional discounted notes[42] Content Production and Ratings - The Group produced and broadcast three premium original drama series in 2023, achieving a new high in quality compared to previous years[19] - The short drama series "Nothing But You" received a rating of 8.2 on Douban.com, with 150,000 participants in the rating[19] - The original drama series "The Heart" received a Douban rating of 8.5 and was recognized as an excellent TV series by the National Radio and Television Administration[50] - The original drama series "My Boss" ranked TOP1 in overseas premieres on the Viu platform in early 2024[52] - The short drama series "Twenty Nine" became a blockbuster with a total viewership of over 1.17 billion times, ranking TOP1 on Douyin for four consecutive weeks[58] Strategic Plans and Future Outlook - The Group plans to maintain rapid growth in overseas distribution and develop overseas original content in 2024[11] - The Group aims to release its first cinema film and explore artiste brokerage business in the upcoming year[11] - The Group unveiled a list of 16 drama series for 2024, focusing on various genres to connect with new audiences[53] - The Group aims to enhance its production capacity and explore the application of AI in the entire production process in 2024[67] - The Group plans to continue expanding its strategic brand resources and deepen cooperation with external drama series for enhanced marketing services[80] Employee and Management - The company maintained high recruitment standards and focused on employee performance to drive business development[23] - The company is committed to providing competitive compensation and benefits, continuously improving its incentive policies through market research[23] - The company provided internal and external training opportunities to enhance employees' professional knowledge and skills[23] - The management team includes Mr. Su Xiao, who has approximately 26 years of experience in the media industry[146] - Ms. Chen Fei, the CEO, has around 19 years of experience in TV series planning, production, and marketing[151] Market Expansion and User Engagement - The company has expanded its user base, with active users increasing by 30% to 5 million in 2023, driven by new content offerings and marketing strategies[174] - Linmon Media Limited is exploring market expansion opportunities in Southeast Asia, targeting a 15% market share within the next two years[174] - The company has established strategic partnerships with key advertisers, resulting in a 40% increase in advertising revenue[174] - The company is committed to enhancing its digital marketing strategies, with an increase in marketing spend by 15% to boost user engagement[194] Financial Position and Assets - As of 31 December 2023, the Group had net current assets of RMB2,732.8 million, an increase from RMB2,475.0 million as of 31 December 2022, with the current ratio rising from 5.6 to 6.1[117] - The Group's total equity attributable to owners increased from RMB2,390.5 million as of 31 December 2022 to RMB2,574.5 million as of 31 December 2023, mainly due to undistributed profits accumulated from operating profit in 2023[118] - Linmon Media Limited's total assets as of December 31, 2023, were valued at $200 million, reflecting a 20% increase from the previous year[174] Acquisitions and Investments - The company has initiated discussions for potential acquisitions to bolster its content library, with a focus on regional media companies[174] - The company has completed a strategic acquisition of a local media firm for $15 million, expected to enhance its content library and distribution capabilities[194] Miscellaneous - The Group did not incur any material foreign currency exchange losses in its operations for the year ended 31 December 2023, indicating effective management of foreign exchange risk[131] - There were no significant contingent liabilities as of December 31, 2023[144] - The Group has no future plans for significant investments or capital assets as of December 31, 2023[144]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等 內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） （股份代號：985） 截至二零二三年九月三十日止六個月之中期業績公告 未經審核中期業績 中譽集團有限公司（「本公司」）董事會（「董事會」）宣佈本公司及其附屬公司（「本集團」） 截至二零二三年九月三十日止六個月之未經審核綜合業績，連同二零二二年同期之比較數字如下： 簡明綜合損益及其他全面收益表 截至二零二三年九月三十日止六個月 截至九月三十日止六個月 二零二三年 二零二二年 千美元 千美元 附註 （未經審核 ) （未經審核 ) 收益 4 銷售 80,600 104,090 股息收入 1,174 4,299 租金收入 1,019 1,121 ...

Financial Performance - The company recorded a net loss of approximately $174.1 million for the fiscal year ending March 31, 2023, a decrease of about 62.5% compared to a net loss of $463.9 million in the previous fiscal year[5]. - Total revenue for the year was approximately $227.1 million, a significant increase of about 229.1% from $69 million in the previous year, primarily due to increased coal sales[66]. - The cost of sales rose to approximately $130.9 million, an increase of about 432.1% from $24.6 million in the previous year, driven by higher coal production and sales[68]. - Distribution and selling expenses increased to approximately $36.2 million, up from $3.6 million in the previous year, mainly due to increased coal sales activities[69]. - Administrative expenses rose by approximately 26.7% to about $42.7 million, up from $33.7 million in the previous year, attributed to increased activities in Canadian coal mining[70]. - Financial expenses increased by approximately 154.8% to about $18.6 million, up from $7.3 million in the previous year, primarily due to rising average interest rates[71]. - The company recognized an impairment provision of approximately $71.4 million due to the recoverable amount of coal mining assets being lower than their carrying value[75]. - The foreign exchange loss related to a bank debt was approximately $41.6 million, compared to a gain of $3.2 million in the previous year, due to the depreciation of the Canadian dollar against the US dollar[74]. - The company reported a pre-tax loss of $98.810 million for fiscal year 2023, compared to a pre-tax profit of $18.921 million in fiscal year 2022[81]. - Revenue for fiscal year 2023 reached $215.859 million, a significant increase from $26.883 million in fiscal year 2022, representing a growth of approximately 702%[81]. Coal Production and Sales - CST Canada Coal Limited sold approximately 820,000 tons of coal during the year, representing a significant increase of approximately 831.8% year-on-year[6]. - CST Coal successfully operated its open-pit mining activities, transporting approximately 1.29 million tons of raw coal to the processing plant, producing 0.81 million tons of high-quality low-volatile coking coal[22]. - As of March 31, 2023, CST Coal extracted 1,273,530 tons of raw coal, a significant increase from 254,232 tons in the previous year, representing a growth of 401%[29]. - The processed coal output reached 814,112 tons, up from 169,506 tons in 2022, marking a 381% increase[29]. - Sales of premium low-volatile coking coal amounted to 820,447 tons, compared to 88,000 tons in the prior year, reflecting a growth of 831%[29]. - The company has no exploration activities or exploration expenditures during the fiscal year[24]. - Projected coal production for fiscal year 2023 is 40 million tons, down from 41.9 million tons in fiscal year 2022, reflecting detailed mining and development plans[78]. Resource and Reserve Estimates - The coal mine in Alberta, Canada, has a resource and reserve amount of 658.7 million tons and 40.7 million tons, respectively, as of March 31, 2023[11]. - The total coal resource estimate as of March 31, 2023, is 658.7 million tons, with 365.9 million tons classified as proven reserves[31]. - The company reported a total of 420.7 million tons of surface mining resources, with an average raw coal ash content of 20.7%[31]. - The underground resource estimate stands at 238 million tons, with a recovery rate between 44% and 62% for multi-seam pillar extraction activities[41]. - As of March 31, 2023, total salable coal reserves amount to 28.8 million tons, with 20.0 million tons confirmed and 8.8 million tons inferred[45]. - The total salable reserves include 15.5 million tons from open-pit mining and 13.4 million tons from underground mining[45]. Investment and Strategic Plans - The company aims to maintain a prudent approach in its investment activities due to the complex external environment and rising risks of stagflation in the global economy[6]. - The company plans to leverage its extensive experience in mining operations and investment in natural resources to enhance future production and operational efficiency[6]. - The company will continue to explore and seize new investment opportunities in the challenging investment environment[6]. - Future strategies include ongoing engagement with local communities and potential expansions in mining operations to enhance production capacity[27]. - The group will continue to monitor market developments and seek investment opportunities in its core business areas while exploring expansion at appropriate times[118]. Employee and Community Engagement - The company is committed to fostering a safety culture within its workforce, having conducted enhanced safety training for all employees at the mine[22]. - The company is actively recruiting to fill 85 positions to enhance production capacity in a tight labor market in Canada[73]. - CST Coal maintains strong relationships with local Indigenous communities, which supports its mining operations[27]. - The total number of employees increased to 339 as of March 31, 2023, compared to 280 in 2022, with employee costs amounting to approximately $42.5 million, up from $14.3 million in the previous year[112]. Governance and Compliance - The board of directors consists of five executive directors and three independent non-executive directors, ensuring appropriate skills and experience for the company's business[174]. - The roles of the chairman and the CEO are distinct, with Zhao Du serving as chairman and Han Xuyang as CEO, ensuring effective separation of responsibilities[177]. - The Audit Committee consists of three independent non-executive directors, with Ma Yanfen as the chairperson, and has reviewed the company's financial statements and risk management systems this year[180]. - The company has a formal and transparent procedure for nominating and appointing directors, with the Nomination Committee evaluating candidates based on criteria such as reputation, qualifications, and independence[186]. - The company has not been aware of any serious violations of applicable laws and regulations during the year[165]. Market Conditions and Risks - The company anticipates continued volatility in international coking coal prices in 2023, with expectations for stable revenue from mining operations in the fiscal year 2024 as operations resume[117]. - The volatility in coking coal market prices will impact the mining business performance, affecting the group's cash flow and revenue[158]. - Financial market fluctuations may lead to a decline in the value of major financial investments, adding uncertainty to the group's overall financial performance[160]. - The group's financial performance is reported in USD, but revenues and expenses may be recorded in other currencies, which can significantly impact the business due to currency fluctuations[161].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引 致的任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） （股份代號：985） 截至二零二三年三月三十一日止 年度之業績公告 經審核全年業績 中譽集團有限公司（「本公司」）董事會（「董事會」）宣佈本公司及其附屬公司（「本集團」）截 至二零二三年三月三十一日止年度（「本年度」）之經審核綜合業績，連同二零二二年同期之 比較數字如下： 綜合損益及其他全面收益表 截至二零二三年三月三十一日止年度 | --- | |-------| | | | 附註 | 收入 3 | --- | --- | --- | |----------|-----------|----------| | 銷售 | 215,859 | 26,883 | | 利息收入 | 2,441 | 23,156 | | 股息收入 | 6,586 | 16,350 | | 租金收入 | 2,244 | 2,644 | | | 227,130 | 69,033 | | 銷售成本 | ...

Financial Performance - Revenue for the year ended December 31, 2022, amounted to approximately RMB 951.5 million, representing a decrease of 23.8% from approximately RMB 1,249.0 million for the same period in 2021[22] - Gross profit for the year ended December 31, 2022, amounted to approximately RMB 374.0 million, representing a decrease of 33.1% from approximately RMB 559.0 million for the same period in 2021[22] - Adjusted net profit for the year ended December 31, 2022, amounted to approximately RMB 141.8 million, representing a decrease of 49.3% from approximately RMB 279.5 million for the same period in 2021[22] - The Group's revenue for the year ended December 31, 2022, was approximately RMB 951.5 million, a decrease of 23.8% compared to RMB 1,249.0 million in 2021[24] - Gross profit for the same period was approximately RMB 374.0 million, down 33.1% from RMB 559.0 million in 2021[24] - Adjusted net profit for 2022 was approximately RMB 141.8 million, a decline of 49.3% from RMB 279.5 million in 2021[24] - Revenue from broadcasting rights of original drama series fell by 15.5% from RMB 1,051.4 million in 2021 to RMB 888.7 million in 2022, with delays in the airing of "Nothing But You" affecting revenue recognition[112] - The content marketing revenue decreased by 47.8% from RMB 109.8 million in 2021 to RMB 57.3 million in 2022, indicating a significant decline in this segment[111] - Revenue from other businesses fell by 93.7% from RMB 87.8 million in 2021 to RMB 5.5 million in 2022, mainly due to prior year contributions from projects like "Hand in Hand" and "Ancient Love Poetry"[116] Assets and Liabilities - Net assets as of December 31, 2022, amounted to approximately RMB 2,390.5 million, representing an increase of 280.8% from net liabilities of approximately RMB 1,322.5 million as of December 31, 2021[23] - As of December 31, 2022, total assets were approximately RMB 3,292.8 million, while total liabilities were approximately RMB 902.3 million[25] - As of 31 December 2022, the Group had net current assets of RMB 2,475.0 million, compared to net current liabilities of RMB 1,617.2 million in 2021, resulting in a current ratio increase from 0.6% to 5.6%[153] - Total equity attributable to owners of the Company increased to RMB 2,390.5 million as of December 31, 2022, compared to total deficits of RMB 1,322.5 million in 2021[154] - Total debts decreased by 79.2% to RMB 891.8 million as of December 31, 2022, down from RMB 4,285.6 million in 2021[156] Operational Highlights - By the end of 2022, the company has produced and distributed a total of 19 high-quality drama series, with 17 being original series[6] - The Group produced and broadcast four original drama series in 2022, achieving record-high quality and innovation breakthroughs in themes and genres[30] - The Group deepened its IP strategic layout, enhancing the long-tail effect of IPs through serialized drama series and derivative development[36] - The Group made significant progress in overseas business development, including overseas distribution and co-production initiatives[41] - The Group's revenue from overseas distribution of original drama series increased by over 2.8 times year-on-year, with significant launches on major platforms like Netflix and Viu[42] - The Group recorded operating revenue of RMB 951 million and an adjusted net profit of RMB 142 million in 2022[59] - The average rating of the four original drama series produced during the year was 7.9 on Douban.com, marking the highest quality recognition in the company's recent history[60] Strategic Initiatives - The company is committed to exploring new growth avenues such as content marketing, micro drama series, overseas distribution, and IP derivative development[7] - The company aims to maximize the commercial value of its proprietary IP rights and build a diversified business structure[7] - The company has established an IP derivative team to focus on multi-form development and commercialization of its IP in conjunction with drama series broadcasts[89] - The company plans to enhance its production capacity and strengthen IP management capabilities while accelerating the development of new businesses, including international operations[101] - The company is actively developing derivative products for "Nothing But You," including light side-products and audio books, which were released simultaneously with the drama series[87] Market and User Engagement - The company reported a revenue increase of 15% year-over-year, reaching $1.2 billion in Q3 2023[1] - User base expanded to 5 million active users, representing a growth of 25% compared to the previous quarter[1] - Customer retention rate improved to 85%, up from 80% in the previous quarter[1] - The company plans to implement a new marketing strategy, expecting a 20% increase in customer engagement[1] Management and Team - Mr. Su Xiao has approximately 25 years of experience in the media industry, focusing on strategic planning and financial management[185] - Ms. Chen Fei has around 18 years of experience in TV series planning, production, and marketing, and has been with Shanghai Linmon since 2014[190] - The Group's executive team includes individuals with extensive backgrounds in media, production, and strategic management, enhancing its operational capabilities[195] - The management team has received multiple awards, highlighting their influence and recognition in the media industry[197] Challenges and Responses - The company faced delays in drama series broadcasting due to COVID-19, resulting in additional costs and a shift in shooting locations from Shanghai to Shenzhen or Qingdao[90] - The company implemented flexible adjustments to production plans and accelerated less affected business processes, such as script development and pre-production, in response to the pandemic[94] - The company has taken measures to mitigate the impact of the pandemic on its operations, including adjusting production plans and implementing health protocols on set[98]

Financial Performance - The company reported a net loss of approximately $86.9 million for the six months ended September 30, 2022, a significant reduction of 81.7% compared to a net loss of $475 million for the same period in 2021[14]. - Total revenue for the period was approximately $111.4 million, representing a substantial increase of 368.1% from $23.8 million in the previous year, primarily driven by coal sales activities[15]. - The company incurred a loss before tax of $86,798,000, compared to a loss of $474,857,000 for the same period in the previous year[88]. - The company reported a loss of $(82,235) thousand during the period, compared to a loss of $(473,088) thousand in the previous period, indicating an improvement in financial performance[94]. - The total comprehensive loss attributable to the company's owners was $82,235,000, compared to $473,088,000 in the previous year[89]. Revenue and Sales - Coal sales generated approximately $104.1 million in revenue during the period, reflecting the recovery of mining operations[15]. - CST Coal sold 318,700 tons of coking coal, generating revenue of approximately $104.1 million, compared to $0 in the previous year[23]. - For the six months ended September 30, 2022, the company reported total sales of $104,090,000, with a gross profit of $54,372,000[88]. - The mining segment reported a profit of $19,011,000 for the six months ended September 30, 2022, compared to a loss of $15,321,000 in the same period of 2021[115]. Expenses and Costs - Sales costs increased by approximately 540.4% to about $57 million due to the resumption of coal production and sales activities[17]. - Administrative expenses rose by approximately 40.7% to about $20.4 million, attributed to the recovery of coal mining operations in Canada[19]. - Financial expenses increased from $3.7 million in the previous year to approximately $6.8 million, an increase of about 83.8%, mainly due to rising loan interest rates[22]. - The cost of sales was $57 million, and distribution and selling expenses were $14.6 million, compared to $8.9 million and $0 in the previous year, respectively[23]. Assets and Liabilities - The recoverable amount of mining assets was estimated at approximately $343.8 million, exceeding the carrying amount of $310.8 million, resulting in a reversal of impairment of approximately $32.9 million[24]. - Total assets as of September 30, 2022, were $782,660,000, down from $850,031,000 as of March 31, 2022[116]. - Total liabilities as of September 30, 2022, were $568,070,000, slightly up from $563,383,000 as of March 31, 2022[116]. - The company's net current liabilities reached $(293,238) thousand, compared to a net current asset position of $97,000 thousand in the previous period[91]. Cash Flow and Investments - The net cash generated from operating activities was $71,138,000, compared to a net cash used of $5,782,000 in the previous year[97]. - The total cash used in investing activities was $44,866,000, compared to cash generated of $22,132,000 in the same period last year[97]. - The company held cash and bank balances of approximately $71,600,000 as of September 30, 2022, an increase from $51,700,000 as of March 31, 2022[53]. Foreign Exchange and Other Income - A foreign exchange loss of approximately $54.1 million was recognized due to the depreciation of the Canadian dollar against the US dollar, compared to a loss of $8 million in the previous year[23]. - The group recognized a foreign exchange loss of $56,085,000 for the six months ended September 30, 2022, compared to a loss of $7,308,000 in the same period of 2021[118]. - Other income for the six months ended September 30, 2022, was $2,492,000, compared to $1,538,000 in the previous year[118]. Employee and Operational Metrics - The total number of employees increased to 323 as of September 30, 2022, compared to 63 in the previous year, with employee costs amounting to approximately $16 million[65]. - Total employee costs amounted to $19,382,000 for the six months ended September 30, 2022, significantly up from $6,595,000 in the previous year, reflecting an increase of approximately 194%[124]. - The company faced operational impacts due to a strike at the largest coal export terminal in Canada, which halted operations in September 2022, but operations resumed in October 2022[67]. Regulatory Compliance and Corporate Governance - The company maintained compliance with all Canadian regulatory requirements during the period[10]. - The interim financial results were reviewed by the audit committee and the external auditor, Deloitte[82]. Shareholder Information - The company did not declare an interim dividend for the six months ended September 30, 2022, consistent with the previous year[80]. - The company did not engage in any equity fundraising activities during the reporting period, with total issued shares remaining at 483,728,862[59]. - As of September 30, 2022, the largest shareholder, Zhao, held 361,086,613 shares, representing approximately 74.64% of the issued share capital[71].

Financial Performance - The company recorded a net loss of approximately $463.9 million for the fiscal year ending March 31, 2022, compared to a net profit of approximately $389.1 million in the previous fiscal year, primarily due to significant fair value losses on financial assets [4]. - Total revenue for the year was approximately $69 million, a decrease of about 12.3% from $78.7 million in the previous year, mainly due to the suspension of coal mining operations in Canada and reduced interest income from lending activities [73]. - Other income and gains totaled approximately $7.2 million, significantly down from $71.4 million in the previous year, with notable contributions from government subsidies and foreign exchange gains [74]. - The gross profit for 2022 was $2.299 million, a significant improvement from a gross loss of $12.798 million in 2021 [89]. - The company recognized a reversal of impairment losses amounting to $32.865 million in 2022, compared to no such reversals in 2021 [89]. - The estimated recoverable value of coal assets as of March 31, 2022, was approximately $343.8 million, exceeding the book value of $310.8 million, leading to a reversal of previously recognized impairment of about $32.9 million [82]. - The total rental income for the year decreased by approximately 7.1% to $2.6 million, down from $2.8 million in 2021, primarily due to the sale of investment properties in Hong Kong [92]. - Interest income from lending activities was $4.1 million in 2022, down from $6.3 million in 2021 [95]. - The company reported revenue of $26.883 million for the fiscal year 2022, a decrease of approximately 4.3% compared to $28.1 million in 2021 [89]. - The company incurred an unrealized loss of approximately $132.9 million on its holdings of Evergrande bonds due to liquidity issues faced by the issuer [111]. Mining Operations - The mining subsidiary, CST Canada Coal Limited, sold approximately 88,000 tons of coal during the fiscal year, with expectations of a more positive contribution to the company's performance in the fiscal year 2023 based on current coking coal price levels [5]. - CST Coal resumed operations in October 2021, with 2.3 million cubic meters of waste rock moved and 254,232 tons of raw coal transported to the original mine by March 31, 2022 [23]. - The company produced 169,506 tons of processed coal, representing a 6.4% increase from the previous year's production of 159,892 tons [29]. - CST Coal sold 88,000 tons of premium low-volatile coking coal during the year, a significant decrease from 279,530 tons sold in the previous year [29]. - The stripping ratio improved to 9.0% from 5.7% year-over-year, indicating enhanced operational efficiency [29]. - The company expects to enhance production and operational efficiency in its mining business by leveraging its extensive experience and expertise in natural resource investments [5]. - The coal mine operated by CST Coal has a resource amount of 659.4 million tons and reserves of 41.4 million tons as of March 31, 2022 [10]. - CST Coal's coal production statistics show a total of 275,916 tons fed into the crusher, up from 234,103 tons the previous year [29]. - The company maintained a zero-incident safety record and zero lost time injuries during the year, emphasizing its commitment to employee safety [23]. Investment Strategy - The company plans to continue cautious and prudent operations in its investments in financial instruments, properties, and lending businesses, aiming to identify new investment opportunities in a challenging environment [5]. - The company has sold all shares in China Evergrande Group and some of its bonds to mitigate risks and potential investment losses due to the negative performance of its investments in Evergrande [4]. - The company anticipates that the global investment market will continue to be adversely affected in the fiscal year 2023 due to increased economic uncertainty and geopolitical conflicts [5]. - The company will maintain its business philosophy while investing in financial tools, properties, and lending, focusing on steady development [5]. - The company continues to monitor the COVID-19 situation in Alberta and implements safety protocols as per provincial guidelines [23]. Corporate Governance - The company adheres to high standards of corporate governance and complies with the relevant laws and regulations [177]. - The board of directors consists of five executive directors and three independent non-executive directors, ensuring a diverse skill set [178]. - The group has established four main committees under the board, including the Audit Committee and the Remuneration Committee, to oversee various aspects of governance [181]. - The Audit Committee consists of three independent non-executive directors, ensuring proper oversight of the company's financial statements [184]. - The company emphasizes the importance of a competitive remuneration policy to attract and retain high-quality teams [185]. - The Nomination Committee is responsible for identifying qualified candidates for the board, with a focus on diversity and relevant experience [190]. - The company has a formal and transparent process for nominating and appointing directors [191]. - Shareholders must approve candidates for the board at the annual general meeting [196]. Employee and Community Relations - The company expressed gratitude to shareholders, customers, and business partners for their continued support and acknowledged the efforts of its employees [6]. - CST Coal has established good relationships with local Indigenous communities and continues to engage with them regularly [26]. - The total number of employees has increased to 280 from 69 in the previous year, with employee costs amounting to USD 14,300,000 [125]. - The group has not reported any significant disputes with employees, customers, or suppliers during the year [171]. Market Conditions and Risks - The company expects coal production to remain stable at 41.9 million tons for both 2022 and 2021 [84]. - The group anticipates a challenging global business and investment environment for the fiscal year 2023, influenced by geopolitical tensions and potential interest rate hikes [129]. - The group faces risks from fluctuations in coking coal market prices, which can impact cash flow and overall performance [162]. - The financial performance is reported in USD, but revenues and expenses may be recorded in other currencies, exposing the group to foreign exchange risks [166].