Financial Performance - The Group's revenue for the year ended 31 December 2024 increased to approximately RMB353 million, representing a growth of approximately 20.1% compared to 2023[13]. - The Group recorded a profit of approximately RMB11 million for the year ended 31 December 2024, a significant recovery from a loss of approximately RMB93 million in 2023[13]. - Revenue increased from approximately RMB 294 million for the year ended 31 December 2023 to approximately RMB 353 million for the year ended 31 December 2024, representing an increase of approximately 20.1%[34]. - Cost of sales increased from approximately RMB 273 million for the year ended 31 December 2023 to approximately RMB 323 million for the year ended 31 December 2024, representing an increase of approximately 18.3%[35]. - Gross profit increased by approximately RMB 10 million, or 47.6%, from approximately RMB 21 million for the year ended 31 December 2023 to approximately RMB 31 million for the year ended 31 December 2024[36]. - The gross profit margin increased from approximately 7.1% for the year ended 31 December 2023 to approximately 8.5% for the year ended 31 December 2024[36]. Revenue Breakdown - Revenue from POE umbrella products decreased by approximately RMB16 million, or 27.1%, from approximately RMB59 million in 2023 to approximately RMB43 million in 2024[14]. - Revenue from nylon umbrella products increased by approximately RMB31 million, or 27.2%, from approximately RMB114 million in 2023 to approximately RMB145 million in 2024[14]. - Revenue from umbrella parts increased by approximately RMB44 million, or 36.4%, from approximately RMB121 million in 2023 to approximately RMB165 million in 2024[15]. - Approximately 70.6% of the Group's total revenue for 2024 was generated from overseas customers, with key markets including Japan, Hong Kong, and the Republic of Korea[25]. - The Group's domestic market accounted for approximately 29.4% of total revenue in 2024, with sales primarily through existing product selections designed by the research and development team[26]. Business Strategy - The Group aims to shift its business focus from upstream manufacturing to downstream distribution and brand building to enhance margins and shareholder returns[21]. - The Group is exploring and developing new business opportunities and projects to diversify its operations[21]. - The Group is shifting its business focus from upstream manufacturing to downstream distribution network and brand building to promote higher-margin branded umbrellas[29]. Financial Position - The Group's bank balances and cash amounted to approximately RMB 27 million as at 31 December 2024, compared to approximately RMB 36 million as at 31 December 2023[47]. - The current ratio increased from 2.2 times as at 31 December 2023 to 2.3 times as at 31 December 2024[48]. - As of December 31, 2024, the Group's cash and bank balances were approximately RMB 27 million, a decrease from approximately RMB 36 million in 2023, while short-term bank borrowings increased to RMB 81 million from RMB 73 million in 2023[52]. - The current ratio improved from 2.2 times in 2023 to 2.3 times in 2024, indicating better short-term financial health[52]. - Inventory as of December 31, 2024, was approximately RMB 136 million, up from RMB 115 million in 2023, with inventory turnover days decreasing from approximately 165 days in 2023 to approximately 142 days in 2024[55][59]. - Trade receivables increased to approximately RMB 114 million in 2024 from RMB 93 million in 2023, with average trade receivables turnover days decreasing from approximately 150 days in 2023 to approximately 107 days in 2024[56][60]. - Trade and bills payables rose to approximately RMB 51 million in 2024 from RMB 45 million in 2023, with average turnover days slightly decreasing from approximately 70 days in 2023 to approximately 55 days in 2024[57][61]. Corporate Governance - The Board comprises four executive Directors and three independent non-executive Directors, committed to high standards of corporate governance[80][87]. - The independent non-executive Directors did not attend the annual general meeting held on May 31, 2024, due to other business engagements[81][84]. - The Board has established three committees to oversee different areas of the Company's affairs, including Audit, Remuneration, and Nomination Committees[86][89]. - The Audit Committee held four meetings during the year ended December 31, 2024, to review the Group's annual and interim results and assess the appointment of Infinity CPA Limited as the new auditor[113]. - Infinity CPA Limited was appointed as the new auditor of the Group on October 29, 2024, following the resignation of Elite Partners CPA Limited[112]. - The Company has received confirmations from all independent non-executive Directors regarding their independence, in compliance with Listing Rules[105]. - The Board is supported by three committees: Audit Committee, Nomination Committee, and Remuneration Committee, each with defined terms of reference approved by the Board[106]. - All Directors are committed to continuous professional development to ensure their contributions to the Board remain informed and relevant[102]. - The Company has arranged appropriate insurance coverage for potential legal actions against its Directors and officers[100]. - The Audit Committee's review included significant internal controls, financial matters, and compliance with Listing Rules and statutory requirements[113]. Risk Management - The Group's business is subject to risks including loss of key customers, fluctuations in raw material prices, and exchange rate risks, which could adversely affect financial performance[62][64][66]. - The Group has established risk management procedures to address significant risks associated with its business[150]. - The Board is responsible for evaluating and determining the nature and extent of risks it is willing to take in achieving the Group's strategic objectives[147]. - The management identifies risks associated with the Group's business by considering internal and external factors, prioritizing them based on impact and occurrence opportunity[155]. - The Audit Committee reviews significant risk management and internal controls on an ongoing basis, considering the adequacy of resources and qualifications of staff[148]. - The Group has engaged an external advisory firm to conduct the internal audit function, identifying no significant deficiencies in the internal control system[157]. - The Board assessed that the risk management and internal control system, covering all material controls including financial, operational, and compliance controls, were reasonably effective and adequate for the year ended December 31, 2024[158]. Employee and Management - The Group employed a total of 523 employees as of December 31, 2024, an increase from 449 employees in 2023, reflecting growth in operational capacity[69]. - The company’s executive directors have extensive experience in management and finance, with backgrounds in various industries[189][190][191][192]. - The senior management includes a manager for the research and development department who has been with the company since 2000, focusing on product design and R&D operations[198]. - The company has been expanding its management team with experienced professionals in project management and business planning, particularly in the consumer electronics sector[194]. - The independent non-executive directors bring diverse expertise, including finance, administration, and industrial design, enhancing the company's governance[197]. - The management team is well-educated, with qualifications from reputable institutions, contributing to the company's strategic direction[196]. Shareholder Engagement - The Company encourages shareholder participation in general meetings, providing opportunities for direct communication with the Board[175]. - Shareholders have the right to participate in general meetings and vote on significant matters, with notices sent at least 20 business days prior[182]. - The company encourages shareholders to attend meetings and make proposals directly to the Board or via written notice[176]. - Poll voting is adopted at shareholders' meetings to ensure each share has one vote, with results posted on the company's website[184]. - Shareholders holding at least 10% of the paid-up capital can requisition an extraordinary general meeting[180]. - The company has a dedicated email for shareholder inquiries, promoting direct communication with the Board[178]. - All reasonable expenses incurred by requisitionists for convening meetings due to the Board's failure will be reimbursed by the company[180].

Financial Performance - Revenue increased by approximately 20.1% to approximately RMB 353 million for the year ended December 31, 2024, compared to RMB 294 million for the year ended December 31, 2023[4] - Gross profit rose by approximately 47.6% to approximately RMB 31 million, up from RMB 21 million in the previous year[4] - The company reported a profit of approximately RMB 11 million for the year, a significant turnaround from a loss of approximately RMB 93 million in the prior year[4] - Basic earnings per share were approximately RMB 2.64, compared to a loss per share of approximately RMB 22.48 in the previous year[4] - The group reported a profit of RMB 10,879,000 for the year 2024, compared to a loss of RMB 92,751,000 in 2023, indicating a significant turnaround in performance[32] - The company recorded a net profit of approximately RMB 11 million for the year ended December 31, 2024, compared to a loss of approximately RMB 93 million for the year ended December 31, 2023, primarily due to improved market conditions and increased demand[48] Revenue Sources - Revenue from umbrella and umbrella components for 2024 reached RMB 353,264,000, a 19.9% increase from RMB 294,467,000 in 2023[16] - The company reported a significant increase in sales of nylon umbrellas, reaching RMB 144,819,000 in 2024, up 26.6% from RMB 114,400,000 in 2023[21] - Revenue from the Cambodian market increased to RMB 124,243,000 in 2024, a 28.3% rise from RMB 96,860,000 in 2023[22] - Revenue increased from approximately RMB 294 million for the year ended December 31, 2023, to approximately RMB 353 million for the year ended December 31, 2024, representing a growth of about 20.1% driven by increased demand for nylon umbrellas and umbrella components[41] Costs and Expenses - Cost of sales rose from approximately RMB 273 million for the year ended December 31, 2023, to approximately RMB 323 million for the year ended December 31, 2024, an increase of about 18.3% due to higher direct material and labor costs[42] - The cost of materials used in production rose to RMB 346,847,000 in 2024, up from RMB 262,530,000 in 2023, reflecting a 32% increase[30] - Total employee costs for the year 2024 amounted to RMB 37,604,000, slightly increasing from RMB 36,780,000 in 2023[30] - Research and development expenses accounted for RMB 13,376,000 in 2024, compared to RMB 12,617,000 in 2023, showing a growth of 6%[30] Assets and Liabilities - Trade receivables increased to RMB 114.156 million from RMB 92.925 million year-on-year[6] - Inventory rose to RMB 135.648 million, compared to RMB 115.366 million in the previous year[6] - Total assets increased to RMB 341.524 million from RMB 315.575 million year-on-year[6] - Net asset value increased to RMB 251.449 million from RMB 239.598 million in the previous year[6] - Trade payables and notes payable as of December 31, 2024, were approximately RMB 51 million, up from approximately RMB 45 million as of December 31, 2023, with average turnover days slightly decreasing from about 70 days to approximately 55 days[52] Dividends and Shareholder Returns - The company did not recommend the payment of a final dividend for the year ended December 31, 2024, consistent with the previous year[4] - The company has not proposed a final dividend for the year ending December 31, 2024, consistent with 2023[70] Governance and Management - The board of directors consists of four executive directors and three independent non-executive directors, ensuring a diverse governance structure[75] - The board expresses gratitude to all employees for their diligence and loyalty, as well as to shareholders, customers, banks, and business partners for their trust and support[73] Market and Strategic Focus - The company aims to maintain and strengthen its leading position as a manufacturer of umbrellas in the Japanese market and a private label umbrella manufacturer in the Chinese market[61] - The company is shifting its business focus from upstream manufacturing to downstream distribution networks and brand building to promote higher-margin products[61] - The company is actively seeking and developing business opportunities and projects for diversification[40] - The company is exploring and developing business opportunities and projects for diversification[61] Financial Reporting and Standards - The company has not applied any new or revised Hong Kong Financial Reporting Standards that are expected to have a significant impact on its financial statements[10] - The company is currently analyzing the impact of the new Hong Kong Financial Reporting Standard 18 on its consolidated financial statements[11] - The new financial reporting standards will be effective for annual reporting periods beginning on or after January 1, 2027, with early adoption permitted[12] Risks and Challenges - The company faces risks related to labor shortages and rising labor costs[55] - The company is exposed to foreign exchange risks due to sales in multiple currencies and purchases of raw materials in RMB and USD[60] Other Financial Metrics - The liquidity ratio improved from 2.2 times as of December 31, 2023, to 2.3 times as of December 31, 2024, with a debt-to-equity ratio of approximately 45%[49] - The company has no significant capital commitments or contingent liabilities as of December 31, 2024, consistent with 2023[56] - The company did not make any significant investments, acquisitions, or disposals of subsidiaries or capital assets during the year[59] - The group exported approximately 70.6% of its total revenue from POE umbrellas, nylon umbrellas, and umbrella components to overseas markets in 2024[38] Trade Receivables and Payables - Trade receivables from customer contracts decreased to RMB 155,993,000 in 2024 from RMB 170,732,000 in 2023, with a provision for credit losses of RMB 41,837,000[33] - The group’s trade payables increased to RMB 20,140,000 in 2024 from RMB 10,774,000 in 2023, indicating a 86% rise[35] - The group’s trade receivables aging analysis showed that overdue receivables totaled approximately RMB 65,222,000 as of December 31, 2024, down from RMB 88,383,000 in 2023[34] - The average credit period for sales is between 90 to 180 days post-delivery[16] - The average credit period granted to trade customers remained between 90 to 180 days, consistent with the previous year[33] Fixed Assets - The company’s leasehold land and buildings had a book value of approximately RMB 47 million as of December 31, 2024, down from RMB 50 million in 2023[57] - The group had a total of RMB 22,843,000 in fixed deposits pledged to banks as collateral for trade payables[37] Other Income - Other income and gains for 2024 totaled RMB 3,131,000, down 32.5% from RMB 4,656,000 in 2023, primarily due to a decrease in government grants[19] - Interest expenses on bank loans rose to RMB 4,102,000 in 2024, compared to RMB 3,045,000 in 2023[25] Reporting and Announcements - The annual performance announcement and report will be published on the Hong Kong Stock Exchange website and the company's website, covering the fiscal year ending December 31, 2024[72]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 186,910,000, representing a 18.5% increase from RMB 157,738,000 in the same period of 2023[2] - Gross profit for the period was RMB 18,446,000, compared to RMB 12,140,000 in 2023, indicating a 52% increase[2] - Loss before tax for the period was RMB 11,977,000, compared to a loss of RMB 7,584,000 in the previous year, reflecting a 58.5% increase in losses[2] - Loss for the period attributable to owners of the Company was RMB 11,985,000, up from RMB 7,314,000 in 2023, marking a 63.5% increase[2] - Basic and diluted loss per share was RMB 2.91 cents, compared to RMB 1.77 cents in the same period last year[2] - Total comprehensive expense for the period was RMB 11,531,000, compared to RMB 6,592,000 in 2023, representing a 75.5% increase[2] - The Group's revenue increased to approximately RMB 187 million, representing an increase of approximately 18.4% compared to the first half of 2023[45] - The loss attributable to owners of the Company was approximately RMB 12 million for the Period, compared to a loss of approximately RMB 7 million for the first half of 2023[45] - The cost of sales increased from approximately RMB 146 million to RMB 168 million, representing an increase of approximately 15.1%[46] - Gross profit increased by approximately RMB 6 million, or 50%, from approximately RMB 12 million to RMB 18 million[47] - The Group's gross profit margin increased from approximately 7.6% to 9.6%[47] Cash Flow and Assets - For the six months ended June 30, 2024, net cash used in operating activities was RMB (28,531) thousand, compared to RMB (8,897) thousand for the same period in 2023[11] - Net cash generated from investing activities increased to RMB 5,026 thousand in 2024 from RMB 164 thousand in 2023[11] - Net cash generated from financing activities rose significantly to RMB 21,306 thousand in 2024, up from RMB 4,871 thousand in 2023[11] - Cash and cash equivalents as of June 30, 2024, amounted to RMB 11,020 thousand, down from RMB 12,569 thousand as of June 30, 2023[11] - The total cash and cash equivalents at the beginning of the year (January 1, 2024) were RMB 13,094 thousand[11] - The net decrease in cash and cash equivalents for the six months ended June 30, 2024, was RMB 2,199 thousand, compared to a decrease of RMB 3,862 thousand in 2023[11] - The effect of foreign exchange rate changes on cash and cash equivalents was RMB 125 thousand in 2024, compared to RMB (140) thousand in 2023[11] - Non-current assets as of June 30, 2024, totaled RMB 65,445,000, slightly down from RMB 66,485,000 as of December 31, 2023[4] - Current assets decreased to RMB 317,004,000 from RMB 315,575,000 at the end of 2023, indicating a marginal increase[4] - Total equity as of June 30, 2024, was RMB 228,261,000, down from RMB 239,598,000 at the end of 2023[4] - The ageing analysis of trade receivables showed a total of RMB 102,272,000 as of June 30, 2024, an increase from RMB 92,925,000 as of December 31, 2023[35] - The ageing analysis of trade and bills payables indicated a total of RMB 42,315,000 as of June 30, 2024, a decrease from RMB 45,041,000 as of December 31, 2023[37] Operational Highlights - The company is engaged in investment holding, with principal subsidiaries focused on manufacturing and selling umbrellas[11] - The Group operates in a single segment, focusing on the manufacturing and sale of umbrellas, with no segment assets or liabilities reported separately[14] - The Group's major non-current assets are all located in the PRC, reflecting its operational focus in this region[19] - The Group aims to strengthen its position as a leading umbrella manufacturer in the Japan market and increase market share in Hong Kong, Cambodia, and South Korea[60] - The Group plans to expand production capacity and enhance research and development capabilities to meet increasing demand in the umbrella market[61] - The Group is exploring and developing new business opportunities to diversify its operations[61] Employee and Governance - For the six months ended June 30, 2024, the total staff costs amounted to RMB 18,388,000, a decrease of 13% from RMB 21,129,000 in the same period of 2023[23] - The Group employed a total of 542 employees as of June 30, 2024, an increase from 449 employees as of December 31, 2023[59] - The Group's emolument policy is based on employees' experience, qualifications, and competence, with additional benefits including contributions to provident funds and social insurance[59] - The company has adopted and complied with the Corporate Governance Code since the Listing Date, with the roles of chairman and CEO vested in the same person, which the Directors believe maximizes operational effectiveness[84] - The company has three independent non-executive Directors on its Board, which enhances the Board's independence[84] - The Nomination Committee was established to oversee the appointment of Directors and consists of three independent non-executive Directors[90] - The company has confirmed that all Directors have complied with the Model Code for Securities Transactions since the Listing Date[86] Shareholder Information - As of June 30, 2024, Mr. Huang Wenji holds a long position of 125,033,900 shares, representing approximately 30.31% of the company's shareholding[69] - Ms. Chen Jieyou, as the spouse of Mr. Huang Wenji, has a long position of 123,140,900 shares, accounting for about 29.85% of the company's shareholding[70] - Jicheng Investment Limited, wholly owned by Mr. Huang Wenji, holds a long position of 123,140,900 shares, which is 29.85% of the total[72] - Other directors, including Mr. Yang Guang, Mr. Lin Zhenshuang, Mr. Chung Kin Hung, Mr. Tso Sze Wai, and Ms. Lee Kit Ying, each hold a long position of 1,890,000 shares, representing approximately 0.46% each[69] - The interests of Mr. Huang Wenji in Jicheng Investment Limited are deemed under the Securities and Futures Ordinance (SFO)[73] - The report indicates that all disclosed interests comply with the requirements of the SFO[74] - The company maintains transparency regarding the interests of its directors and substantial shareholders as mandated by regulatory requirements[74] Share Option Scheme - The maximum number of shares that may be issued under the Share Option Scheme is capped at 10% of the shares in issue as of the date of shareholder approval[75] - The total number of securities available for issue under the Share Option Scheme is 41,255,000 shares, representing 10% of the total number of issued shares of the Company[79] - Options granted to any director, chief executive, or substantial shareholder, or their associates, require prior approval from independent non-executive Directors[77] - The exercise price of the share options must not be less than the highest of the closing price on the offer date, the average closing price for the preceding five business days, or the nominal value of a share[79] - The number of options available for grant under the scheme at the beginning and end of the interim period 2024 remained at 41,255,000 shares[80] - The number of shares that may be issued in respect of options granted during the interim period 2024 was approximately 4.5% of the weighted average number of shares in issue[81] - Share options granted in excess of 1% of the shares in issue require a circular and shareholder approval[76] - The exercise period for share options can last up to ten years from the date of grant, with no minimum holding period required[78] - Participants must pay HK$1.0 upon acceptance of the grant within 21 days after the offer date[78] - The Remuneration Committee believes that no performance target or clawback mechanism is necessary for the grant of Share Options, as it aims to retain high-caliber employees[81] - During the period ended June 30, 2024, 88,000 share options lapsed[83] - The number of share options granted under the company's share option scheme for the interim period is approximately 4.5% of the weighted average number of shares issued during the same period[82] Audit and Compliance - The Audit Committee has reviewed the unaudited consolidated interim financial statements for the period[93] - The Remuneration Committee is responsible for reviewing and approving matters related to share schemes under Chapter 17 of the Listing Rules[89] - The report does not mention any new products, technologies, market expansions, or mergers and acquisitions[74] - The report is dated August 30, 2024, and includes the current executive and independent non-executive Directors[92]

Financial Performance - For the six months ended June 30, 2024, the Group reported revenue of RMB 186,910,000, an increase of 18.5% compared to RMB 157,738,000 for the same period in 2023[2]. - Gross profit for the period was RMB 18,446,000, compared to RMB 12,140,000 in the previous year, reflecting a gross margin improvement[2]. - The loss before tax increased to RMB 11,977,000 from RMB 7,584,000 year-on-year, indicating a higher operational loss[2]. - The total comprehensive expense for the period attributable to owners of the Company was RMB 11,985,000, compared to RMB 7,314,000 in the same period last year[2]. - Basic and diluted loss per share was RMB 2.91 cents, compared to RMB 1.77 cents for the same period in 2023[2]. - The company reported a loss for the period of RMB 11,985,000, which is a decrease from RMB 11,531,000 in the prior year, indicating a slight improvement in financial performance[6]. - The Group's revenue increased to approximately RMB 187 million, representing an increase of approximately 18.4% compared to the first half of 2023[45]. - The loss attributable to owners of the Company was approximately RMB 12 million for the Period, compared to a loss of approximately RMB 7 million for the first half of 2023[45]. - The cost of sales increased from approximately RMB 146 million for the first half of 2023 to RMB 168 million for the Period, representing an increase of approximately 15.1%[46]. - Gross profit increased by approximately RMB 6 million, or 50%, from approximately RMB 12 million for the first half of 2023 to RMB 18 million for the same period in 2024[47]. - The Group's gross profit margin increased from approximately 7.6% for the first half of 2023 to 9.6% for the Period[47]. Revenue Breakdown - Revenue from POE umbrellas decreased to RMB 28,662,000 in 2024 from RMB 33,879,000 in 2023, a decline of 15.3%[16]. - Revenue from nylon umbrellas increased to RMB 82,340,000 in 2024 from RMB 63,588,000 in 2023, a growth of 29.5%[16]. - Revenue from umbrella parts rose to RMB 75,908,000 in 2024 from RMB 60,271,000 in 2023, an increase of 25.8%[16]. - Revenue from external customers in Japan decreased to RMB 59,827,000 in 2024 from RMB 66,089,000 in 2023, a decline of 9.1%[18]. - Revenue from external customers in the PRC increased significantly to RMB 55,074,000 in 2024 from RMB 36,349,000 in 2023, a growth of 51.5%[18]. - Revenue from external customers in Cambodia increased to RMB 59,070,000 in 2024 from RMB 46,063,000 in 2023, a rise of 28.2%[18]. Assets and Liabilities - As of June 30, 2024, total assets amounted to RMB 317,004,000, slightly up from RMB 315,575,000 at the end of 2023[4]. - Current liabilities increased to RMB 154,188,000 from RMB 142,462,000 at the end of 2023, indicating a rise in short-term obligations[4]. - Net assets decreased to RMB 228,261,000 from RMB 239,598,000 at the end of 2023, reflecting a decline in overall equity[4]. - The Group's cash and cash equivalents stood at RMB 11,020,000 as of June 30, 2024, compared to RMB 13,094,000 at the end of 2023[4]. - The company's trade receivables as of June 30, 2024, totaled RMB 102,272,000, an increase from RMB 92,925,000 as of December 31, 2023[35]. - The ageing analysis of trade receivables showed that receivables overdue by 91 to 180 days increased to RMB 34,647,000 in 2024 from RMB 11,002,000 in 2023[35]. - The company’s trade and bills payables decreased to RMB 42,315,000 as of June 30, 2024, from RMB 45,041,000 as of December 31, 2023[37]. Cash Flow - For the six months ended June 30, 2024, the net cash used in operating activities was RMB 28,531,000, compared to RMB 8,897,000 for the same period in 2023, indicating a significant increase in cash outflow[11]. - The net cash generated from investing activities was RMB 5,026,000, a substantial increase from RMB 164,000 in the previous year, reflecting improved investment performance[11]. - The net cash generated from financing activities rose to RMB 21,306,000, compared to RMB 4,871,000 in the prior year, showing enhanced financing capabilities[11]. - As of June 30, 2024, cash and cash equivalents decreased to RMB 11,020,000 from RMB 12,569,000 at the same time last year, indicating a reduction in liquidity[11]. - The cash and cash equivalents as of January 1, 2024, were RMB 13,094,000, down from RMB 16,571,000 at the beginning of the previous year, reflecting a decline in available cash[11]. Operational Efficiency and Strategy - The Company is focused on enhancing operational efficiency and exploring new market opportunities to drive future growth[2]. - The Group aims to strengthen its position as a leading umbrella manufacturer in the Japan market and increase market share in Hong Kong, Cambodia, and South Korea[60]. - The Group plans to expand production capacity and enhance research and development capabilities to meet increasing demand in the umbrella market[61]. - The Group is actively exploring and developing new business opportunities and projects to diversify its operations[61]. Employee and Governance - Total staff costs decreased to RMB 18,388,000 in 2024 from RMB 21,129,000 in 2023, reflecting a reduction of about 13.0%[23]. - The Group employed a total of 542 employees as of June 30, 2024, an increase from 449 employees as of December 31, 2023[59]. - The Company has adopted and complied with the Corporate Governance Code since the Listing Date, with the roles of Chairman and CEO being held by the same person, Mr. Huang[84]. - The Company has three independent non-executive Directors, which enhances the independence of the Board[84]. - The Company has confirmed that all Directors have fully complied with the Model Code for Securities Transactions since the Listing Date[86]. Share Options and Ownership - The maximum number of shares that may be issued under the Share Option Scheme is capped at 10% of the shares in issue as of the date of shareholder approval[75]. - The total number of securities available for issue under the Share Option Scheme is 41,255,000 shares, representing 10% of the total number of issued shares of the Company[79]. - The Company granted 18,750,000 share options to employees, representing approximately 4.5% of the weighted average number of shares issued as of the interim period ending June 30, 2024[82]. - During the period ended June 30, 2024, 88,000 share options lapsed[83]. - The interests of Mr. Huang Wenji in Jicheng Investment Limited are deemed under the Securities and Futures Ordinance (SFO)[73]. - The report indicates that the company is compliant with the disclosure requirements under the SFO regarding interests and short positions[72]. - The total number of issued shares is not specified in the provided content, but the significant holdings of key individuals indicate a concentrated ownership structure[69].

Financial Performance - The Group's revenue for the year ended December 31, 2023, decreased to approximately RMB 294 million, representing a decrease of approximately 16.9% compared to 2022[13]. - The Group recorded a loss of approximately RMB 93 million for the year ended December 31, 2023, compared to a loss of approximately RMB 29 million for the year ended December 31, 2022[13]. - Revenue from POE umbrella products decreased by approximately RMB 24 million, or 28.9%, from approximately RMB 83 million in 2022 to approximately RMB 59 million in 2023[14]. - Revenue from nylon umbrella products increased by approximately RMB 41 million, or 56.9%, from approximately RMB 73 million in 2022 to approximately RMB 114 million in 2023[14]. - Revenue from umbrella parts decreased by approximately RMB 77 million, or 38.9%, from approximately RMB 198 million in 2022 to approximately RMB 121 million in 2023[15]. - The Group's total revenue for the year ended 31 December 2023 was approximately RMB294 million, a decrease of approximately 16.9% from RMB354 million in 2022, primarily due to decreased demand for POE umbrellas and umbrella parts[33]. - Gross profit decreased by approximately RMB14 million, or 40.0%, from approximately RMB35 million in 2022 to approximately RMB21 million in 2023, with the gross profit margin declining from approximately 9.9% to 7.3%[35]. - Other income and net gain fell to approximately RMB5 million in 2023 from approximately RMB19 million in 2022, mainly due to a decrease in exchange gain of approximately RMB9 million[36]. Expenses and Financial Ratios - Selling and distribution expenses decreased by approximately RMB8 million, or 36.4%, from approximately RMB22 million in 2022 to approximately RMB14 million in 2023[37]. - Administrative expenses decreased by approximately RMB11 million, or 25.0%, from approximately RMB44 million in 2022 to approximately RMB33 million in 2023, primarily due to a reduction in staff costs[44]. - The Group recorded a loss for the year of approximately RMB93 million in 2023, compared to a loss of approximately RMB29 million in 2022, largely due to an impairment loss of approximately RMB69 million recognized for trade receivables and other receivables[46]. - As of 31 December 2023, the Group's bank balances and cash amounted to approximately RMB36 million, down from approximately RMB41 million in 2022, while short-term bank borrowings increased to RMB73 million from RMB68 million[47]. - The current ratio decreased from 2.9 times in 2022 to 2.2 times in 2023, while the gearing ratio increased to approximately 45% from approximately 31%[48]. Business Strategy and Market Focus - The Group aims to maintain and strengthen its position as a leading umbrella manufacturer focused on the Japan market and its own branded products in the PRC market[20]. - The Group plans to shift its business focus from upstream manufacturing to downstream distribution network and brand building to enhance margins and shareholder returns[21]. - The Group is exploring and developing new business opportunities and projects to diversify its operations[21]. - The Group's new business strategy focuses on shifting from upstream manufacturing to downstream distribution network and brand building to promote higher-margin branded umbrellas[27]. - The Group aims to strengthen its position as a leading umbrella manufacturer in the Japan market and increase market share in Hong Kong, Cambodia, and South Korea[80]. Employee and Operational Metrics - The Group employed a total of 449 employees as of December 31, 2023, a decrease from 571 employees in 2022[73]. - Inventories as of December 31, 2023, were approximately RMB 115 million, down from RMB 132 million in 2022, with inventory turnover days increasing from approximately 149 days in 2022 to 165 days in 2023[55][59]. - Trade receivables decreased to approximately RMB 93 million in 2023 from RMB 149 million in 2022, with average trade receivables turnover days increasing from approximately 138 days to 150 days[56][60]. - Trade and bills payables were approximately RMB 45 million as of December 31, 2023, down from RMB 59 million in 2022, with average turnover days increasing from approximately 49 days to 70 days[57][61]. Corporate Governance - The Board comprises four executive Directors and three independent non-executive Directors, ensuring effective corporate governance[86]. - The Group has adopted the Corporate Governance Code and is committed to maintaining high standards of corporate governance[86]. - The Board consists of four executive directors and three independent non-executive directors, ensuring a balanced governance structure[99]. - The attendance of executive directors at board meetings was 100%, with all attending six out of six meetings held[107]. - The Audit Committee, established on January 23, 2015, includes three independent non-executive directors, focusing on financial reporting and internal control effectiveness[121]. - All independent non-executive directors have confirmed their independence, complying with Listing Rules[113]. - The company has arranged appropriate insurance coverage for potential legal actions against directors and officers[108]. - Continuous professional development is emphasized, with all directors participating in relevant training or reading materials[110]. - The Board has established three committees: Audit, Nomination, and Remuneration, each with defined terms of reference[114]. - The company has a commitment to corporate governance policies and compliance with legal regulations[100]. Risk Management - The Group is exposed to exchange rate risks due to sales primarily in US dollars, RMB, and Japanese Yen, while purchasing materials and paying wages in RMB and US dollars[77]. - The Group's raw material prices are subject to market conditions, and potential risks include labor shortages and increasing labor costs[70]. - The Group has established procedures to address significant business risks and conducts annual reviews of changes in the business environment[162]. - The Group's risk management and internal control systems were considered reasonably effective and adequate, covering all material controls including financial, operational, and compliance controls[170]. - The risk management strategies include risk retention, avoidance, sharing, and transfer to mitigate potential impacts[172]. Shareholder Engagement - Shareholders are encouraged to participate in general meetings, with notices sent at least 20 business days prior, allowing for direct communication with the Board[188]. - The company allows shareholders holding at least 10% of the paid-up capital to requisition extraordinary general meetings, which must be held within two months of the request[193]. - Voting at shareholders' meetings is conducted by poll, ensuring each share has one vote, with results published on the company's website on the same day[195].

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 部份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。 中國集成控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1027） China Jicheng Holdings Limited 截至二零二三年十二月三十一日止年度 全年業績公告 財務摘要 中國集成控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司 及其附屬公司（統稱「本集團」）截至二零二三年十二月三十一日止年度之綜合業績， 連同截至二零二二年十二月三十一日止年度之比較數據如下： 1 － 收益減少約16.9%至約人民幣294百萬元（二零二二年：約人民幣354百萬元） － 毛利減少約40.0%至約人民幣21百萬元（二零二二年：約人民幣35百萬元） － 年內虧損約人民幣93百萬元（二零二二年：年內虧損約人民幣29百萬元） － 每股基本虧損約人民幣0.22分（二零二二年：每股基本虧損約人民幣0.08分） － 董事不建議派發截至二零二三年十二月三十一日止年度之末期股息（二零 二二 ...

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之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不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之任何損失承擔任何責任。 China Jicheng Holdings Limited 中國集成控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1027） 截至二零二二年十二月三十一日止年度之年度報告之 補充公告 茲提述中國集成控股有限公司（「本公司」）於二零二三年四月二十八日刊發的截 至二零二二年十二月三十一日止年度之年度報告（「二零二二年年報」）。除另有界 定者外，本公告所用詞彙與二零二二年年報所載者具有相同涵義。 除二零二二年年報所提供的資料外，董事會謹此向本公司股東及潛在投資者提供 以下補充資料。 購股權計劃 (i) 於二零二二財政年度（「二零二二財年」）年初及年末，根據購股權計劃之計劃 授權可供授出的購股權數目分別為30,288,000股股份及41,255,000股股份； ...

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 157,738,000, a decrease of 17.8% compared to RMB 191,913,000 in the same period of 2022[4] - Gross profit for the period was RMB 12,140,000, down 50.8% from RMB 24,679,000 in the previous year[4] - Loss for the period was RMB 7,314,000, an improvement from a loss of RMB 14,131,000 in the same period of 2022, representing a 48.3% reduction in losses[4] - Total comprehensive expense for the period was RMB 6,592,000, significantly lower than RMB 21,011,000 in the prior year, indicating a 68.7% decrease[4] - The company reported a total comprehensive expense of RMB 6,592,000 for the period ended June 30, 2023, compared to RMB 21,011,000 for the same period in 2022[9] - For the six months ended June 30, 2023, the company reported a loss of RMB 7,314,000, a decrease from a loss of RMB 14,131,000 in the same period of 2022, representing a 48.3% improvement[50] - The basic loss per share was RMB 1.77 cents for the Period[82] - Gross profit decreased by approximately RMB 13 million, or 52%, from approximately RMB 25 million in the first half of 2022 to RMB 12 million in the same period in 2023, with a gross profit margin decline from 13.0% to 7.6%[90] Revenue Breakdown - Revenue from the sale of POE umbrellas was RMB 33,879,000, down 45.4% from RMB 62,261,000 in 2022[33] - Revenue from nylon umbrellas increased to RMB 63,588,000, up 247.5% from RMB 18,343,000 in 2022[33] - Revenue from umbrella parts decreased to RMB 60,271,000, down 45.5% from RMB 111,309,000 in 2022[33] - Revenue from external customers in Japan increased to RMB 66,089,000, up 30.9% from RMB 50,504,000 in 2022[37] - Revenue from external customers in the PRC decreased to RMB 36,349,000, down 24.2% from RMB 47,922,000 in 2022[37] - Revenue from external customers in Cambodia decreased to RMB 46,063,000, down 45.9% from RMB 85,208,000 in 2022[37] - Major customer A contributed RMB 24,043,000, down 66.1% from RMB 70,778,000 in 2022, while major customer B contributed RMB 37,849,000, up 74.0% from RMB 21,746,000 in 2022[41] Assets and Liabilities - Trade receivables increased to RMB 186,404,000 as of June 30, 2023, compared to RMB 148,571,000 at the end of 2022, reflecting a growth of 25.4%[7] - Current liabilities rose to RMB 157,513,000 from RMB 136,313,000 at the end of 2022, marking a 15.6% increase[7] - Net current assets decreased slightly to RMB 256,210,000 from RMB 260,986,000 at the end of 2022, a decline of 1.0%[7] - Non-current assets increased to RMB 69,169,000 as of June 30, 2023, compared to RMB 71,141,000 at the end of 2022, a decrease of 2.7%[7] - As of June 30, 2023, the total equity of the company was RMB 325,379,000, a decrease from RMB 331,812,000 as of January 1, 2023, reflecting a loss for the period of RMB 7,314,000[9] Cash Flow - The net cash used in operating activities for the six months ended June 30, 2023, was RMB 8,897,000, an improvement compared to RMB 14,617,000 for the same period in 2022[13] - The company generated RMB 164,000 from investing activities in the first half of 2023, a significant decrease from RMB 13,577,000 in the same period of 2022[13] - Financing activities generated RMB 4,871,000 in cash for the six months ended June 30, 2023, compared to RMB 52,931,000 in the prior year[13] - The cash and cash equivalents as of June 30, 2023, were RMB 12,569,000, down from RMB 47,346,000 at the same date in 2022[13] Operational Efficiency - Total staff costs decreased to RMB 21,129,000 in 2023 from RMB 32,571,000 in 2022, reflecting a reduction of 35.1%[47] - Research and development expenses were RMB 5,682,000 in 2023, down from RMB 9,063,000 in 2022, indicating a decrease of 37.5%[47] - Selling and distribution expenses decreased by approximately RMB 8 million, or 57.1%, from approximately RMB 14 million in the first half of 2022 to RMB 6 million in the current period[91] - Administrative expenses decreased by approximately RMB 12 million, or 42.9%, from approximately RMB 28 million in the first half of 2022 to RMB 16 million in the current period, primarily due to the disposal of a subsidiary[92] Corporate Governance - The company has three independent non-executive directors to enhance board independence[143] - The roles of chairman and chief executive officer are held by the same person, which the directors believe facilitates business strategy execution[143] - The company has complied with the Corporate Governance Code since the listing date, with some deviations noted[143] - The Audit Committee, established on January 23, 2015, comprises three independent non-executive directors and has reviewed the unaudited consolidated interim financial statements for the period[149] - The Remuneration Committee, also established on January 23, 2015, consists of three independent non-executive directors[150] - The Nomination Committee, established on January 23, 2015, is composed of three independent non-executive directors[151] Market Position and Strategy - The Group operates in a single segment, focusing on the manufacturing and sale of umbrellas[30] - The Group's main products include POE umbrellas, nylon umbrellas, and umbrella parts, with a focus on expanding market presence in Japan and Cambodia[31] - The Group aims to maintain and strengthen its position as a leading umbrella manufacturer in the Japan market and increase market share in existing markets such as Hong Kong, Cambodia, and South Korea[107] - The Group plans to expand production capacity, promote business development, and enhance research and development capabilities to meet increasing demand in the umbrella market[108] - The company is actively exploring and developing new business opportunities and projects to enhance its market position and create more value for shareholders[113] Shareholder Information - Mr. Huang Wenji holds a long position of 125,033,900 shares, representing approximately 30.31% of the issued shares[117] - Jicheng Investment Limited, wholly owned by Mr. Huang Wenji, holds 123,140,900 shares, accounting for approximately 29.85% of the shareholding[123] - The company did not declare or propose any dividends during the reported period, consistent with 2022[53] - The company did not recommend the payment of any interim dividend for the Period[80] Economic Environment - The company reported a significant impact on consumer confidence and economic performance due to the ongoing trade war between China and the United States and the COVID-19 pandemic[113] - The global economic environment remains challenging, impacting the company's operational conditions and future outlook[113]

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不對因本公佈全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 China Jicheng Holdings Limited 中國集成控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1027） 截至二零二三年六月三十日止六個月 未經審核簡明中期業績公佈 中國集成控股有限公司（「本公司」）董事（「董事」）會（「董事會」）公佈本公司 及其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月之未經審 核綜合中期業績連同比較數字。本公佈列載本公司二零二三年中期報告全文， 並符合香港聯合交易所有限公司（「聯交所」）證券上市規則中有關中期業績初 步公佈附載之資料要求。本公佈在聯交所網站(www.hkexnews.hk)及本公司網站 (www.china-jicheng.cn)刊登。本公司的二零二三年中期報告的印刷本將於適當時候 寄發予本公司股東並在上述網站刊登。 承董事會命 中國集成控股有限公司 主席 ...

Financial Performance - The Group's revenue for the year ended December 31, 2022, increased to approximately RMB 354 million, representing a growth of approximately 15.7% compared to 2021[12]. - The Group recorded a loss of approximately RMB 29 million for the year ended December 31, 2022, a significant improvement from a loss of approximately RMB 128 million in 2021[12]. - Revenue from POE umbrella products increased by approximately RMB 22 million, or 36.1%, from approximately RMB 61 million in 2021 to approximately RMB 83 million in 2022[13]. - Revenue from nylon umbrella products decreased by approximately RMB 49 million, or 40.2%, from approximately RMB 122 million in 2021 to approximately RMB 73 million in 2022[13]. - Revenue from umbrella parts products increased by approximately RMB 75 million, or 61.0%, from approximately RMB 123 million in 2021 to approximately RMB 198 million in 2022[14]. - Approximately 77% of the Group's total revenue for the year ended December 31, 2022, was generated from overseas customers[24]. - The Group's revenue increased from approximately RMB306 million for the year ended 31 December 2021 to approximately RMB354 million for the year ended 31 December 2022, representing an increase of approximately 15.7%[32]. - Domestic sales of POE umbrellas, nylon umbrellas, and umbrella parts accounted for approximately 23% of the Group's total revenue for the year ended 31 December 2022[29]. - Overseas sales of POE umbrellas, nylon umbrellas, and umbrella parts accounted for approximately 77% of the Group's total revenue for the year ended 31 December 2022[28]. Cost Management - Gross profit increased by approximately RMB8 million, or 29.6%, from approximately RMB27 million for the year ended 31 December 2021 to approximately RMB35 million for the year ended 31 December 2022[34]. - Selling and distribution expenses decreased by approximately RMB9 million or 29.0% from approximately RMB31 million for the year ended 31 December 2021 to approximately RMB22 million for the year ended 31 December 2022[36]. - Administrative expenses decreased by approximately RMB36 million, or 45%, from approximately RMB80 million for the year ended 31 December 2021 to approximately RMB44 million for the year ended 31 December 2022[43]. Business Strategy - The Group aims to shift its business focus from upstream manufacturing to downstream distribution and brand building to enhance margins and shareholder returns[20]. - The Group is exploring and developing new business opportunities and projects to diversify its operations[20]. - The Group's new business strategy focuses on shifting from upstream manufacturing to downstream distribution network and brand building[26]. - The Group aims to maintain its position as a leading umbrella manufacturer in the Japan market and increase market share in existing markets such as Hong Kong, Cambodia, and South Korea[87]. - The Group's strategy includes exploring and developing new business opportunities and projects[88]. Financial Health - The Group's current ratio increased from 2.6 times as at 31 December 2021 to 2.9 times as at 31 December 2022[47]. - The Group's bank balances and cash amounted to approximately RMB41 million as at 31 December 2022, down from approximately RMB61 million as at 31 December 2021[46]. - Inventory as of December 31, 2022, was approximately RMB 132 million, with inventory turnover days decreasing from 254 days in 2021 to 149 days in 2022[54][58]. - Trade receivables increased to approximately RMB 149 million in 2022 from RMB 119 million in 2021, with average turnover days rising from 100 days to 138 days[55][59]. - Trade and bills payables rose to approximately RMB 59 million in 2022 from RMB 25 million in 2021, with average turnover days slightly decreasing from 52 days to 49 days[56][60]. - The Group's asset-liability ratio was approximately 31% as of December 31, 2022, down from 32% in 2021[51]. - The Group employed a total of 571 employees as of December 31, 2022, down from 800 employees in 2021[71]. Corporate Governance - The Board consists of four executive directors and three independent non-executive directors, ensuring a balance of power and independent insights[102]. - All directors confirmed full compliance with the securities trading standards as outlined in the listing rules during the year[98]. - The attendance of executive directors at board meetings was 100%, with all attending 9 out of 9 meetings held[113]. - Independent non-executive directors also maintained high attendance, with each attending 9 out of 9 board meetings[113]. - The company has established three board committees: Audit, Remuneration, and Nomination, to oversee various aspects of corporate governance[101]. - The company has adopted and complies with the corporate governance code, with some deviations noted regarding the roles of the chairman and CEO[101]. - The board reviews its governance practices regularly to ensure they remain appropriate and effective[105]. - The Company has appointed three independent non-executive Directors, representing more than one-third of the Board[119]. Risk Management - The Group faces risks related to raw material price fluctuations and potential labor shortages, which could impact operations and profitability[63][66]. - The Board believes that the risk management and internal control systems were reasonably effective and adequate for the year ended December 31, 2022[179]. - The Group's risk management strategies include risk retention and reduction, risk avoidance, risk sharing and diversification, and risk transfer[181]. - The management identified risks associated with the business by considering internal and external factors, assessing and prioritizing them based on impact and occurrence[180]. - The Group's risk management procedures are designed to mitigate potential losses from significant changes in the business environment[171]. Shareholder Engagement - Shareholders are encouraged to participate in general meetings, with notices sent at least 20 business days prior to meetings, allowing for direct communication with the Board[197]. - The Company promotes shareholder engagement by allowing inquiries and proposals to be made directly to the Board during meetings or via written notice[198].