同方泰德國際科技有限公司* （於 新 加 坡 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1206） 盈利預告 截至二零二五年六月三十日止六個月之估計中期業績 本公佈由同方泰德國際科技有限公司（「本公司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）根據香港聯合交易所有限公司證券上市規則第13.09(2)(a)條及香港法例第 571章證券及期貨條例第XIVA部 項 下 內 幕 消 息 條 文 刊 發。 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 佈 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 Technovator TECHNOVATOR INTERNATIONAL LIMITED – 1 – 本 公 司 股 東 及 潛 在 投 資 者 於 買 賣 本 公 司 股 份 時 務 請 審 慎 行 事。 承董事會命 同方泰德國際科技有限公司 主 席 本公司董事會（「董事會」）謹此通知本公司股東（「股 東」）及 潛 在 投 資 ...

Group 1 - The company, Tongfang Teda (01206.HK), has scheduled a board meeting on August 27, 2025, to review and approve its interim results for the six months ending June 30, 2025 [1][2] - The board meeting will also consider the proposal for any interim dividend payment, if applicable [1] - Chan Lai Yin has been appointed as the co-secretary of the company [2]

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 佈 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 Technovator TECHNOVATOR INTERNATIONAL LIMITED 同方泰德國際科技有限公司* （於 新 加 坡 註 冊 成 立 的 有 限 公 司） 同方泰德國際科技有限公司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，本 公司謹訂於二零二五年八月二十七日（星 期 三）舉 行 董 事 會 會 議，藉 以（其 中 包 括）審議及批准本公司及其附屬公司截至二零二五年六月三十日止六個月的中 期 業 績 以 及 其 刊 發，並 考 慮 派 付 任 何 中 期 股 息 的 建 議（如 有）。 承董事會命 同方泰德國際科技有限公司 主 席 李成富 香 港，二 零 二 五 年 八 月 十 五 日 * 僅供識別 於 本 公 佈 日 期，本 公 司 執 行 董 事 為 趙 曉 波 先 生 及 秦 冰 先 生；本 公 司 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 同方泰德国际科技有限公司 | | | 呈交日期: | 2025年8月1日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01206 | 說明 | 同方泰德国际科技有限公司 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 782,192,189 | | 0 | | 782,192,189 | | 增加 / 減少 (- ...

Core Insights - The medical insurance claims in 2024 exceeded 86 billion, with an average annual growth rate of 21% over the past decade [1][12][87] - The report highlights significant cases of high claims, including five cases with total payouts exceeding 3 million and eight individuals with over 100 claims [1][21] - The trend of "one-stop" settlement for hospital discharges is gaining traction, with major companies like China Life and Ping An reporting direct payments exceeding 4 billion [1][48] - The age groups most affected by medical claims are 30-50 years and 0-17 years, with a higher incidence of claims among males in the child category [1][55][60] Medical Claims Overview - Medical claims have shown rapid growth, with total payouts reaching 405.2 billion in 2024, a sevenfold increase compared to ten years ago [12][87] - The report includes data from 68 life insurance companies, with 60 companies disclosing medical claims totaling over 86 billion [12][13] - Major insurers like Renmin Health reported over 20 billion in claims, while Ping An Life and Ping An Health reported over 12 billion [13][14] Claim Characteristics - The medical insurance claims are characterized by high frequency and low average payout, with nearly 80% of companies reporting average claims below 3,000 [19][34] - The report emphasizes that while average payouts may seem low, the high frequency of claims reflects the nature of medical insurance as a reimbursement product [19][20] High Payout Cases - Notable cases include individuals receiving over 3 million in claims, with companies like Fude Life, Xinhua Insurance, and AIA reporting multiple high-claim cases [26][30] - The report details that some medical insurance products have guaranteed renewal periods, allowing for cumulative payouts to exceed initial coverage limits [26] Special Drug Payments - In 2024, Ping An Health paid over 19 billion for special drugs, while Taibao Health reported a maximum payout of 1.2 million for CAR-T therapy [36][44] - The introduction of commercial health insurance innovation drug directories in the 2025 medical insurance catalog is expected to enhance coverage for previously excluded innovative drugs [40][41] One-Stop Settlement - The trend of one-stop settlement for medical claims is being adopted by several insurers, with 11 companies reporting direct payment amounts exceeding 12 billion in 2024 [50][51] - Companies like China Life and Ping An Life have reported direct payments exceeding 4 billion, indicating a shift towards more efficient claim processing [51][49] Age and Gender Distribution - The report indicates that the most common age groups for medical claims are 30-50 years and 0-17 years, with a notable prevalence of claims among males in the child category [55][60] - Female claims are generally higher in adult age groups, reflecting greater health awareness and insurance purchasing behavior among women [62][66] Claim Causes - The majority of medical claims are due to diseases, with respiratory infections being the most common reason for claims [72][76] - In contrast, accidental claims are primarily related to animal bites and sprains, highlighting the different nature of claims in medical insurance [81][82]

Core Insights - The million medical insurance sector has seen significant innovation and upgrades in 2023, with major players expanding coverage to include outpatient treatments and advanced medications [1][2][3] - The competition in the million medical insurance market is intensifying, with companies striving to enhance their offerings to meet evolving consumer demands [5][9] - Despite a slowdown in growth, the market for million medical insurance is expected to continue expanding, driven by increasing healthcare costs and the need for supplementary insurance [10][17] Company Developments - Ant Group's "Good Insurance" series has upgraded its core products to include coverage for specific diseases treated in advanced hospitals and expanded outpatient medication reimbursements [1] - China Life has launched its first 10-year guaranteed renewal product, "Guoshou Kangyue Zhenxiang," which covers outpatient expenses for specific major diseases [2] - ZhongAn Insurance has upgraded its health insurance series, "Zunxiang Esheng" and "Zhongminbao," to include long-term medication coverage and expanded hospitalization benefits [1][2] Market Trends - The million medical insurance market has evolved from high-end and mid-range medical insurance to more affordable options, with products like "Zunxiang Wuyou" and "Eshengbao" gaining popularity [4][9] - The market has seen a shift towards covering outpatient treatments and advanced therapies, with many products now offering zero deductible options [7][8] - The overall scale of the million medical insurance market has grown from negligible in 2016 to approximately 600 billion yuan by 2023, accounting for about 20% of the medical insurance market [9][13] Competitive Landscape - Major players like Renbao Health, ZhongAn, and Ping An Health dominate the market, with their products collectively accounting for a significant share of the total premium income [14][15] - The competitive environment has led to a focus on improving renewal conditions and expanding coverage, with many products now offering guaranteed renewal periods [5][6] - The introduction of lower-cost alternatives like "Hui Min Bao" has created additional pressure on million medical insurance products, although its impact appears to be diminishing [13][21] Future Outlook - The potential for growth in the million medical insurance sector remains strong, with expectations that it could reach a scale of 1.7 to 2.6 trillion yuan by 2029 [18] - The increasing pressure on basic medical insurance is likely to drive demand for commercial health insurance, positioning million medical insurance as a crucial supplement [17][23] - However, challenges such as low claims payout ratios and the need for better customer satisfaction must be addressed to ensure sustainable growth [22][23]

Core Insights - Ant Insurance has upgraded its flagship health insurance product "Good Insurance" series for 2025, expanding coverage to include international departments and special needs departments of 470 top-tier hospitals across China, as well as certain private hospitals for specific diseases like cancer [1] - The upgrade enhances outpatient medication reimbursement responsibilities and adds over 1,500 advanced drugs and medical devices, including all imported drugs and nearly 400 original research drugs, promoting accessibility to high-end medical services [1][2] - The upgraded "Good Insurance" series includes three core products catering to different age groups: adults, seniors, and children, ensuring comprehensive health protection for families [1] Product Features - The 2025 version of "Good Insurance" expands the outpatient drug list to include all drugs approved by the National Medical Products Administration in 2024, allowing reimbursement for outpatient purchases during hospitalization [2] - The series introduces "exclusive family doctor services," which provide family health consultations and a dedicated advanced medicine hotline, enabling personalized medical advice and coordination with national hospitals and drug resources [2]

Financial Performance - The company achieved a revenue of approximately RMB 1,829.2 million in 2024, a slight decrease of 0.5% year-on-year, while maintaining stable market share[20]. - The group recorded a net revenue of RMB 1,829.2 million in 2024, a decrease of 0.5% year-on-year[29]. - Revenue from the smart transportation segment was approximately RMB 435.2 million, down 6.8% from RMB 467.1 million in 2023[33]. - The smart building and park segment's revenue decreased by 12.4% to approximately RMB 720.3 million from RMB 822.5 million in 2023[34]. - The smart energy segment achieved a revenue increase of 22.9%, reaching RMB 673.8 million compared to RMB 548.4 million in 2023[31]. - In 2024, the revenue of the smart energy segment reached approximately RMB 673.8 million, a 22.9% increase from RMB 548.4 million in the same period last year, driven by technological innovation and market expansion in the heating sector[35]. - The group's gross profit decreased by 14.2% to approximately RMB 145.2 million in 2024, with a gross margin of 7.9%, down 1.3 percentage points year-on-year, due to intensified industry competition[38]. - Other income increased by approximately 17.0% to RMB 32.4 million in 2024, primarily due to increased interest income from EMC projects[39]. - Selling and distribution expenses rose by 35.5% to approximately RMB 85.8 million in 2024, accounting for 4.7% of revenue, compared to 3.4% in 2023, reflecting increased marketing resource investment[40]. - The impairment loss on trade and other receivables and contract assets surged by approximately 264.0% to RMB 210.0 million in 2024, attributed to delayed payment schedules from clients due to industry environment changes[42]. - The group recorded a loss of approximately RMB 265.0 million in 2024, compared to a loss of RMB 99.9 million in 2023, with a net margin decline from -5.4% to -14.5%[45]. Strategic Initiatives - The company achieved a stable revenue base despite industry downturns, focusing on enhancing core competitiveness and accelerating independent innovation[13]. - The company is focusing on enhancing project gross margins and improving project settlement and collection management to ensure sustainable development[20]. - The company plans to deepen its focus on construction parks, urban rail transit, and centralized heating sectors, leveraging policy support for significant equipment upgrades[18]. - The company aims to increase R&D investment and accelerate the cultivation and introduction of high-end talent to support urban digital transformation and green low-carbon development[18]. - The company is committed to driving innovation and resource integration to cultivate new business growth points amid a competitive market environment[29]. - The company aims to enhance brand value and competitiveness by increasing R&D investment and focusing on key technology breakthroughs[28]. Innovation and Development - The company successfully delivered a domestically produced IoT controller module, enhancing the competitiveness of its "Kunlun" industrial internet platform[14]. - The company obtained 7 patent authorizations, including 6 invention patents, and achieved 27 software copyrights in the fiscal year[14]. - The company made significant breakthroughs in the smart transportation sector, including a major renovation project for the Chongqing Line 6 comprehensive monitoring system[15]. - The smart energy segment successfully implemented an automatic control system for nearly 900 heat exchange systems, achieving a fuel utilization efficiency improvement with an expected heat saving rate exceeding 8%[17]. - The company received the "Green Energy Star" first-class award for the Xinjiang Altash Zero Carbon Park project, highlighting its commitment to sustainable energy solutions[17]. - The company has established a benchmark project for smart operation and maintenance in tertiary hospitals, integrating core systems such as building automation and energy management[16]. Market Challenges - The company faced significant challenges in 2024 due to tightened local government debt regulations and a decline in real estate investment, impacting effective demand and increasing competition[13]. - The gross profit margin significantly declined due to intensified industry competition, leading to a net loss of approximately RMB 265.0 million for the year[20]. Corporate Governance - The company has a diverse board with members experienced in finance, investment, and management, which supports strategic decision-making[75][78]. - The company is committed to enhancing its governance structure by including independent directors with diverse backgrounds and expertise[75][77]. - The company emphasizes the importance of independent directors in decision-making processes, particularly regarding strategy and performance[174]. - The company has adopted a board diversity policy since August 2013, ensuring a balanced mix of skills and experiences among board members[175]. - The independent non-executive directors have reviewed the ongoing connected transactions and confirmed they are conducted on normal commercial terms[142]. Employee and Management - The total employee count increased from 665 to 669, while total employee costs decreased from approximately RMB 206.6 million to RMB 168.5 million[55]. - The company has implemented a share incentive plan since December 4, 2015, to motivate and reward eligible members[55]. - The management team regularly participates in training and industry exhibitions to enhance their understanding of market conditions and product developments[55]. - The company’s remuneration policy is based on individual contributions, qualifications, and capabilities, reviewed regularly by the remuneration committee[148]. Financial Position - As of December 31, 2024, the group's inventory increased by 6.3% to approximately RMB 1,363.8 million, with inventory turnover days rising to about 264 days[47]. - The group's cash and cash equivalents amounted to approximately RMB 344.7 million as of December 31, 2024, representing 13.1% of net assets[49]. - The group’s net cash position was approximately RMB -2.9 million as of December 31, 2024, with a debt-to-asset ratio of approximately 6.2%[50]. - The group has pledged the Xinjiang Tianfu South Thermal Power Plant and associated urban heating network renovation project to secure a mortgage loan of approximately RMB 37.4 million at an interest rate of 4.74%[51]. - As of December 31, 2024, the group had no significant contingent liabilities[53]. Related Party Transactions - The supply agreement between Tongfang Taited Beijing and Tongfang sets annual sales limits for smart energy-saving products at RMB 420 million, RMB 460 million, and RMB 510 million for the years ending December 31, 2023, 2024, and 2025 respectively[131]. - For the year ending December 31, 2024, the group sold products to Tongfang Group amounting to approximately RMB 257.3 million, within the approved limit of RMB 460 million[134]. - The procurement agreement establishes annual purchase limits for energy management and environmental protection products at RMB 220 million, RMB 250 million, and RMB 270 million for the years ending December 31, 2023, 2024, and 2025 respectively[133]. - The group purchased raw materials from Tongfang Group amounting to approximately RMB 104.4 million for the year ending December 31, 2024, within the approved limit of RMB 250 million[134]. - The agreements are aimed at addressing the business needs of the group's non-core operations[133]. Environmental and Compliance - The company has obtained ISO14001 environmental management system certification, demonstrating its commitment to energy-saving and environmental protection[161]. - The company has not violated any relevant environmental regulations that would significantly impact its development, performance, or business[161]. - The company has complied with all corporate governance codes as per the main board listing rules throughout the year ending December 31, 2024, except for deviations in the frequency of board meetings[166].

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was RMB 1,829,233,000, a decrease of 0.1% compared to RMB 1,838,010,000 in 2023[5]. - The gross profit for the same period was RMB 145,193,000, down 14.2% from RMB 169,323,000 in the previous year[5]. - The net loss for the year was RMB 265,045,000, compared to a net loss of RMB 99,947,000 in 2023, indicating a significant increase in losses[6]. - The basic loss per share was RMB 0.1291, compared to RMB 0.3400 in the previous year[5]. - The pre-tax loss for 2024 was RMB (296,797,000), compared to RMB (99,676,000) in 2023, indicating a worsening financial performance[31]. - The actual income tax expense for 2024 was RMB (31,752,000), compared to RMB 271,000 in 2023, showing a significant increase in tax liabilities[31]. - The basic loss per share for 2024 was RMB 265,908,000, compared to RMB 100,964,000 in 2023, indicating a substantial increase in losses attributable to shareholders[34]. - The group recorded a loss of approximately RMB 265.0 million in 2024, compared to a loss of RMB 99.9 million in 2023, with a net margin decline from -5.4% to -14.5%[67]. Revenue Breakdown - Revenue from smart transportation business reached RMB 435.2 million in 2024, while smart buildings and parks generated RMB 720.3 million, and smart energy brought in RMB 673.8 million[22]. - The smart energy segment experienced a decline in revenue from RMB 822.5 million in 2023 to RMB 673.8 million in 2024, reflecting a decrease of approximately 18.1%[22]. - The reported revenue for the smart transportation business in 2024 was RMB 435,196,000, a decrease from RMB 467,056,000 in 2023, representing a decline of approximately 6%[27]. - Revenue from the smart building and park segment was RMB 720,259 thousand, accounting for 39.4% of total revenue, down from 25.4% in the previous year[55]. - The smart energy segment achieved revenue of approximately RMB 673.8 million in 2024, representing a growth of 22.9% from RMB 548.4 million in the previous year, driven by technological innovations and market expansion in the heating sector[58]. - The smart transportation segment recorded revenue of approximately RMB 435.2 million in 2024, a decrease of 6.8% compared to RMB 467.1 million in 2023, primarily due to project bidding adjustments and delayed construction plans in the first half of the year[56]. - Revenue from the smart building and park segment fell by 12.4% year-on-year to approximately RMB 720.3 million in 2024, down from RMB 822.5 million in 2023, amid ongoing market investment challenges[57]. Assets and Liabilities - Total assets as of December 31, 2024, were RMB 4,497,478,000, compared to RMB 4,486,800,000 in 2023, showing a slight increase[12]. - Current liabilities increased to RMB 2,887,395,000 from RMB 2,609,652,000 in the previous year, reflecting a rise of 10.6%[11]. - The company reported a significant increase in trade and other receivables, which rose to RMB 1,687,280,000 from RMB 976,224,000, marking a growth of 72.6%[10]. - Trade and other receivables amounted to approximately RMB 1,801.6 million, a decrease of 3.4% from RMB 1,864.6 million in the previous year, with an average trade receivables turnover period increasing from 290 days to 329 days[69]. - Trade payables and notes payable totaled RMB 2,175,946 thousand in 2024, compared to RMB 2,042,991 thousand in 2023[38]. - Trade and other payables increased by 8.0% to approximately RMB 2,400.3 million, with the average trade payables turnover period rising from 387 days to 437 days[70]. Operational Efficiency and Strategic Initiatives - The board of directors has emphasized the importance of strategic initiatives to improve operational efficiency and reduce losses moving forward[4]. - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[4]. - The company plans to enhance project gross margin levels and strengthen project settlement and collection management for sustainable development[42]. - The group aims to enhance brand value and competitiveness through innovation and resource integration[52]. - The group plans to deepen market collaboration with internal business units to drive sustainable development[52]. Employee and Operational Metrics - Employee costs for 2024 were RMB 168,497,000, down from RMB 206,622,000 in 2023, representing a reduction of about 18%[30]. - The total employee count increased from 665 to 669, while total employee costs decreased from approximately RMB 206.6 million to RMB 168.5 million[78]. - The group successfully completed the seamless migration of the integrated monitoring system cloud platform for Wuhan Metro Line 11, enhancing operational management efficiency[43]. - In the Changchun rail transit market, the company secured multiple projects, achieving comprehensive coverage of the integrated monitoring system market[44]. - The company expanded its regional rail transit market by successfully delivering integrated monitoring equipment for the Hangzhou to Deqing railway project[45]. Financial Reporting and Compliance - The group has not applied any new accounting standards or interpretations that have not yet come into effect during the current accounting period[19]. - The group’s financial statements are prepared using historical cost conventions, with estimates and assumptions based on past experiences and other relevant factors[18]. - The group has implemented revisions to Hong Kong Financial Reporting Standards, which did not have a significant impact on the group's financial performance or position during the reporting period[19]. - The audit committee reviewed the consolidated performance for the year ending December 31, 2024, ensuring compliance with applicable accounting standards and regulations[91]. - The company has adopted the standard code for directors' securities trading and confirmed compliance throughout the fiscal year[83]. Market Focus and Investments - The company has not reported any significant operational activities outside of China, indicating a focus on the domestic market[29]. - The company did not engage in any significant acquisitions or disposals of subsidiaries or joint ventures during the year[80]. - No significant investments were made by the company as of December 31, 2024[81]. - The company did not conduct any fundraising activities through the issuance of equity securities[84]. - The company did not buy, sell, or redeem any of its listed securities during the fiscal year[86]. Dividends and Shareholder Information - The company has not declared or paid dividends for the fiscal years 2024 and 2023[40]. - The company did not declare any dividends for the fiscal year ending December 31, 2023[87]. - The company held zero treasury shares as of December 31, 2024[85]. - The company will hold its annual general meeting on June 17, 2025[89]. - The board of directors held only two regular meetings during the year, despite the requirement for at least four meetings[82].

Financial Performance - For the first half of 2024, the company reported revenue of approximately RMB 512.6 million, representing a year-on-year decline of 8.8%[3] - The company recorded a net loss of approximately RMB 71.9 million in the first half of 2024 due to increased sales expenses and a decline in overall profit margins[3] - In the first half of 2024, the company recorded a net income of RMB 512.6 million, representing a year-on-year decline of 8.8% due to fluctuations in government investment policies and project execution delays[9] - The company's gross profit decreased by 46.1% to approximately RMB 56.1 million, with a gross margin of 10.9%, down 7.6 percentage points year-on-year, attributed to intensified industry competition[16] - The company reported a total comprehensive loss of RMB 71,827 thousand for the period, compared to a comprehensive income of RMB 12,454 thousand in 2023[43] - The company incurred a loss of RMB 69,557 thousand during the first half of 2024, compared to a loss of RMB 14,772 thousand in the same period of 2023, indicating a significant decline in profitability[47] - The total comprehensive income for the six months ended June 30, 2024, was RMB (71,827) thousand, compared to RMB (13,301) thousand for the same period in 2023, reflecting a worsening financial performance[47] Revenue Breakdown - The smart transportation segment experienced a significant revenue drop, but the company successfully completed the Shenyang Metro Network Command Center project, enhancing operational efficiency[4] - The smart transportation segment's revenue fell by 47.1% to approximately RMB 93.3 million, impacted by tightened investment policies and project adjustments[12] - The smart building and park segment generated revenue of approximately RMB 220.2 million, a decrease of 5.9% compared to the previous year, due to limited new investment scale in the target market[13] - Revenue from the smart energy segment increased by 31.4% year-on-year to approximately RMB 199.1 million, driven by the implementation of large-scale energy management contracts[14] - Smart transportation business revenue was RMB 93,261,000, down 47.3% from RMB 176,461,000 year-on-year[51] - Smart building and park business revenue decreased slightly to RMB 220,216,000 from RMB 234,015,000, a decline of 5.9%[51] - Smart energy business revenue increased significantly to RMB 199,095,000, up 31.4% from RMB 151,489,000[51] Operational Adjustments - The company is actively adjusting its operational strategies and increasing market promotion efforts to stabilize its market position amid a cautious investment environment[3] - The company aims to enhance cost control and project execution in the second half of 2024 to achieve stable development in future market conditions[3] - The competitive landscape in the industry is becoming increasingly intense, prompting the company to maintain a lower gross margin level[3] - The company is focusing on expanding new market areas and collaboration opportunities to counteract the impact of government investment policy adjustments[3] Expenses and Costs - Sales and distribution expenses increased by 7.5% to approximately RMB 44.7 million, accounting for 8.7% of revenue, reflecting enhanced marketing efforts[18] - Administrative and other operating expenses rose by 11.0% to approximately RMB 75.4 million, driven by increased investment in R&D and amortization of intangible assets[19] - The company reported a significant increase in external customer revenue in the smart energy segment, indicating a positive trend in this area[56] Cash Flow and Financial Position - Cash and cash equivalents decreased to approximately RMB 111.1 million as of June 30, 2024, representing 3.9% of the company's net assets, down from RMB 363.3 million as of December 31, 2023[26] - The company's net debt increased to approximately RMB 173.7 million as of June 30, 2024, compared to a net cash position of RMB 77.5 million as of December 31, 2023[27] - The company reported a net cash outflow from operating activities of RMB 278,017 thousand, compared to RMB 210,463 thousand for the same period in 2023, representing an increase of approximately 32.2%[48] - Cash and cash equivalents decreased by RMB 245,787 thousand during the first half of 2024, compared to a decrease of RMB 241,621 thousand in the same period of 2023, showing a consistent cash outflow trend[48] - The company raised RMB 236,917 thousand from loans and borrowings during the first half of 2024, an increase from RMB 182,961 thousand in the same period of 2023, indicating a reliance on external financing[48] Shareholder Information - No interim dividend was recommended by the board for the first half of 2024[35] - As of June 30, 2024, the company held zero treasury shares[35] - The company has not granted any share rewards under the share incentive plan since its adoption on December 4, 2015[40] - As of June 30, 2024, the beneficial owner Zhao Xiaobo held 8,728,000 shares, representing approximately 1.12% of the company's issued share capital[36] - Major shareholder Tongfang Co., Ltd. held 92,000,000 shares, representing approximately 11.76% of the company's issued share capital[38] - Resuccess Investments Limited, a controlled corporation, held 194,330,142 shares, representing approximately 24.84% of the company's issued share capital[38] Corporate Governance - The company has complied with all corporate governance codes as per the Hong Kong Stock Exchange listing rules in the first half of 2024[32] - The company’s audit committee has reviewed the interim financial results for the first half of 2024[34] - The independent auditor has reviewed the interim financial information for the first half of 2024 in accordance with the relevant standards[34]