关于宁夏中科生物科技股份有限公司 法律意见书 大成（银）证字2025第 G007 号 北京大成（银川）律师事务所 www.dentons.cn 银川市金凤区宁安大街 64 号德丰大厦 25 层（750011） Tel: +86 951-5057676 Fax: +86 951-5057863 关于宁夏中科生物科技股份有限公司 2025 年第二次临时股东会法律意见书 关于宁夏中科生物科技股份有限公司 大成（银）证字2025第 G007 号 致：宁夏中科生物科技股份有限公司 北京大成（银川）律师事务所受宁夏中科生物科技股份有限公司（以下简称 "公司"）的委托，就公司召开2025年第二次临时股东会（以下简称"本次股东 会"）的有关事宜，指派本所马媛、蔡安琪律师（以下简称"本所律师"）出席 本次股东会，并根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规 则》（以下简称"《股东会规则》"）等法律、法规、规范性法律文件以及《宁 夏中科生物科技股份有限公司章程》（以下简称"《公司章程》"）的规定，对 本次股东会的相关事项进行见证，出具法律意见书 ...

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 409,620,000, representing a 37.6% increase from RMB 297,530,000 in 2023[11] - Gross profit increased to RMB 49,722,000 in 2024, up from RMB 20,178,000 in 2023, marking a significant improvement in profitability[11] - The company reported a profit of RMB 2,983,000 for the year from continuing operations, compared to a loss of RMB 2,364,000 in 2023[11] - Other revenue rose to RMB 30,177,000 in 2024, compared to RMB 24,775,000 in 2023, indicating growth in additional income streams[11] - Revenue from wooden products rose by 38.1% to RMB407.4 million in 2024, accounting for 99.5% of total revenue[20] - Revenue from renewable energy products decreased by 8.5% to RMB2.2 million in 2024, with a profit of approximately RMB0.2 million[21] - Gross profit increased to approximately RMB49.7 million in 2024, with a gross margin of 12.1%, up from 6.8% in 2023[25] - Other income for the year was RMB30.2 million, an increase from RMB24.8 million in 2023[26] Expenses and Costs - Selling and distribution expenses were RMB 15,257,000, slightly increasing from RMB 14,650,000 in 2023, reflecting ongoing investment in market presence[11] - Administrative expenses increased to RMB 37,558,000 from RMB 31,836,000 in 2023, suggesting higher operational costs[11] - The company experienced a finance cost of RMB 3,860,000, up from RMB 1,359,000 in 2023, indicating increased borrowing costs[11] - Selling and distribution expenses rose to RMB15.3 million in 2024, compared to RMB14.7 million in 2023[32] - Administrative expenses increased to RMB 37.6 million in 2024, primarily due to higher research and development costs[33] - Finance costs were approximately RMB3.9 million in 2024, up from RMB1.4 million in 2023[34] Tax and Financial Ratios - The Group recorded an income tax credit of RMB7.2 million in 2024, compared to an expense of RMB0.5 million in 2023[35] - As of December 31, 2024, the current ratio improved to 3.7:1, up from 3.1:1 in 2023[38] Capital Expenditure and Assets - Total assets increased to RMB1,210.8 million in 2024, up from RMB1,054.7 million in 2023, representing a growth of 14.8%[15] - As of December 31, 2024, the Group had current assets of RMB 765.7 million, up from RMB 515.1 million in 2023, with cash and cash equivalents at RMB 27.2 million[43] - Total capital expenditure for property, plant, and equipment was RMB 11.1 million, significantly higher than RMB 4.1 million in 2023[45] Employee and Governance - The Group employed 252 full-time employees as of December 31, 2024, an increase from 144 in 2023, focusing on enhancing production automation and staff training[48] - The Board consists of two executive Directors and three non-executive Directors, ensuring compliance with the Listing Rules[76] - Independent non-executive Directors represent at least one-third of the Board at all times during the Year[67] - The Board held only two regular meetings during the Year, approving the interim results of 2024 and annual results of 2023[72] - Each executive Director has a service contract for a term of three years commencing from June 15, 2023[84] Corporate Governance - The Company has adopted the corporate governance code as per the Listing Rules and has complied with all applicable provisions during the Year[66] - Independent non-executive Directors provide strong independent views and ensure compliance with financial reporting requirements[82] - The Company has implemented effective internal control procedures to manage risks and enhance transparency[66] - The Board is responsible for major policy decisions, business plans, and risk management systems[67] - The Company has adopted a Nomination Policy for the Nomination Committee to consider and recommend candidates for election as Directors at general meetings[89] Risk Management - The Risk Management Committee comprises all independent non-executive Directors, focusing on evaluating the Group's risk management framework[140] - The Risk Management Committee reviews material risk exposures, including market, credit, and operational risks[142] - The Company has maintained effective risk management and internal control systems, which are reviewed annually[163] Environmental and Social Responsibility - The Group is committed to reducing its carbon footprint and has implemented practices such as duplex printing and efficient paper usage to minimize environmental impact[174][178] - The Group recognizes the importance of employee welfare, providing comprehensive benefits and a safe workplace, with no strikes or workplace fatalities reported during the Year[186] - The Group values customer feedback and conducts market research to understand trends and needs, ensuring quality products and services are offered[188] Dividend Policy - The Group does not recommend the payment of a final dividend for the Year, consistent with the previous year (2023: Nil)[189][192] - The Board's discretion governs the declaration of dividends, considering financial results, operational conditions, and other relevant factors[193][194] - The Company has adopted a Dividend Policy allowing for the declaration and distribution of dividends to shareholders based on financial performance and other factors[197]

登录新浪财经APP 搜索【信披】查看更多考评等级 □是 √否 一、主要财务数据 主要会计数据和财务指标 单位：元 币种：人民币 ■ 证券代码：600165 证券简称：*ST宁科（维权） 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 ■ 对公司将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1号一一非经常性 损益》中列举的非经常性损益项目界定为经常性损益的项目，应说明原因。 □适用 √不适用 主要会计数据、财务指标发生变动的情况、原因 √适用 □不适用 ■ ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600165 股票简称：*ST宁科 公告编号：临2025-048 宁夏中科生物科技股份有限公司 关于公司及实际控制人收到《行政处罚决定书》的公告 公司及虞建明先生于2025年4月3日收到中国证监会宁夏监管局下发的《行政处罚决定书》（宁证监处罚 字[2025]2号），相关情况公告如下： 一、《行政处罚决定书》内容 当事人：宁夏中科生物科技股份有限公司（以下简称*ST宁科或公司），注册地址、办公地址均为宁夏 回族自治区石嘴山市惠农区河滨街。 虞建明，男，1973年2月出生，*ST宁科实际控制人。住址：上海市浦东新区。 黄海粟，女，1985年2月出生，时任*ST宁科董事长、宁夏中科生物新材料有限公司（以下简称中科新 材）董事长，住址：上海市黄浦区。 陈瑞，男，1973年11月出生，时任*ST宁科总经理、中科新材总经理，住址：宁夏石嘴山市惠农区。 董春香，女，1987年3月出生，*ST宁科财务总监，住址：宁夏银川市金凤区。 吴江明，男，1973年10月出生，时任*ST宁科董事长、中科新材董事长，住址：上海市徐汇区。 本公司董事会及全体董事保证本公告内容不存在 ...

每经AI快讯，2025年4月3日，上交所发布关于对宁夏中科生物科技股份有限公司及实际控制人虞建明 和有关责任人予以纪律处分的决定。 董春香，宁夏中科生物科技股份有限公司时任财务总监； 当事人： 宁夏中科生物科技股份有限公司，A股证券简称：*ST宁科，A股证券代码：600165； 虞建明，宁夏中科生物科技股份有限公司实际控制人； 郑杰，宁夏中科生物科技股份有限公司控股股东上海中能企业发展（集团）有限公司时任财务总监； 黄海粟，宁夏中科生物科技股份有限公司时任董事长兼宁夏中科生物新材料有限公司董事长； 胡春海，宁夏中科生物科技股份有限公司时任董事长（代行董事会秘书）； 吴江明，宁夏中科生物科技股份有限公司时任董事长兼宁夏中科生物新材料有限公司董事长； 祝灿庭，宁夏中科生物科技股份有限公司时任总经理； 陈瑞，宁夏中科生物科技股份有限公司时任总经理兼宁夏中科生物新材料有限公司总经理； 张宝林，宁夏中科生物科技股份有限公司时任董事会秘书； 范昌盛，宁夏中科生物科技股份有限公司时任财务部部长兼宁夏中科生物新材料有限公司财务总监； 韩昆山，宁夏中科生物新材料有限公司副总经理。 一、上市公司及相关主体违规情况 根据中国证监会 ...

Financial Performance - The total revenue for the year ended December 31, 2024, was RMB 409.62 million, representing a 37.6% increase from RMB 297.53 million in 2023[3]. - Gross profit for the same period was RMB 49.72 million, up from RMB 20.18 million, indicating a significant improvement in profitability[3]. - The net profit for the year was RMB 2.98 million, a turnaround from a net loss of RMB 2.36 million in 2023[3]. - For the year ended December 31, 2024, total revenue from external customers reached RMB 409,620,000, an increase from RMB 297,530,000 in 2023, representing a growth of approximately 37.5%[18][19]. - The revenue from the production and sale of wooden products was RMB 407,382,000 for 2024, compared to RMB 295,084,000 in 2023, indicating a growth of about 37.9%[18][19]. - The company reported a net profit of RMB 2,983,000 for the year ended December 31, 2024, recovering from a net loss of RMB 2,364,000 in 2023[18][19]. - Total revenue for the group increased by 37.7% to RMB 409.6 million in 2024, compared to RMB 297.5 million in 2023[46]. - Gross profit increased to approximately RMB 49.7 million in 2024, with a gross margin of 12.1%, up from RMB 20.2 million and a gross margin of 6.8% in 2023[47]. Assets and Liabilities - The company reported a total current asset value of RMB 758.23 million, an increase from RMB 515.11 million in 2023[5]. - Current liabilities rose to RMB 207.48 million from RMB 165.20 million, reflecting increased operational activities[6]. - The total non-current assets decreased to RMB 452.60 million from RMB 539.63 million, primarily due to depreciation[5]. - The total assets increased to RMB 1,210,828,000 in 2024 from RMB 1,054,741,000 in 2023, reflecting a growth of approximately 14.8%[20]. - The total liabilities rose to RMB 335,972,000 in 2024, up from RMB 182,369,000 in 2023, marking an increase of about 84.5%[20]. - Trade receivables increased to RMB 95,303 thousand in 2024 from RMB 62,181 thousand in 2023, reflecting a growth of approximately 53.3%[35]. - Total trade and other receivables rose to RMB 157,009 thousand in 2024, up from RMB 113,143 thousand in 2023, marking an increase of about 38.8%[35]. - Trade payables surged to RMB 85,309 thousand in 2024, compared to RMB 32,505 thousand in 2023, representing a growth of approximately 162.5%[37]. - The company has bank financing agreements totaling RMB 241,400 thousand in 2024, a significant increase from RMB 111,900 thousand in 2023[39]. Expenses and Costs - Interest expenses on bank loans increased to RMB 3,860,000 in 2024 from RMB 1,331,000 in 2023, indicating a rise of approximately 189.5%[24]. - Employee costs, excluding director remuneration, rose to RMB 29,405,000 in 2024 from RMB 19,692,000 in 2023, representing an increase of about 49.5%[25]. - Administrative expenses increased to RMB 37.6 million in 2024, up from RMB 31.8 million in 2023, primarily due to increased R&D expenditures[51]. - The company reported a foreign exchange loss of RMB 21,822,000 in 2024, compared to a gain of RMB 10,296,000 in 2023[23]. Tax and Other Income - The company's income tax expense for 2024 was RMB (7,184) thousand, compared to RMB 466 thousand in 2023, indicating a significant increase in tax credits or reductions[9]. - Other income rose to RMB 30.2 million in 2024, compared to RMB 24.8 million in 2023, primarily from bank interest and government subsidies[48]. - The company received government subsidies of RMB 423,000 in 2024, a significant decrease from RMB 3,966,000 in 2023[22]. Shareholder Information - The basic earnings per share for the year was RMB 0.03, compared to a loss per share of RMB 0.03 in 2023[4]. - The average number of ordinary shares for calculating basic and diluted earnings per share remained constant at 92,137,051 for both 2024 and 2023[32]. - The board of directors did not recommend a final dividend for the year ending December 31, 2024[67]. Corporate Governance and Compliance - The audit committee reviewed the group's annual performance for the reporting year[65]. - The group has maintained compliance with corporate governance codes, with deviations noted in meeting frequency and information updates to the board[62][63]. - The group has not purchased, sold, or redeemed any listed securities during the reporting year[61]. - There were no significant events occurring after the reporting period[59]. - The group has not granted any share options since the adoption of the share option scheme on June 15, 2012[58]. Market Position and Strategy - The global wooden products industry is experiencing transformative growth driven by increasing demand for sustainable building materials and eco-friendly consumer goods[60]. - The group has a strategic advantage in the bioenergy and wooden products sectors, anticipating further revenue enhancement in the coming years[60]. - The group is well-positioned to capitalize on the shift towards a circular economy, aligning with global decarbonization goals[60].

Revenue Performance - The Group's revenue increased by 4% to RMB186.5 million for the six months ended June 30, 2024, compared to RMB179.4 million in the same period of 2023[7]. - Revenue from the manufacturing and sales of wooden products rose by 4.2% to RMB185.4 million, accounting for 99.4% of total revenue[11]. - Revenue from renewable energy products was RMB1.1 million, representing 0.6% of total revenue, down from RMB1.5 million in 2023[11]. - The Group's revenue from wooden products increased by 4.2% to RMB185.4 million, representing 99.4% of total sales for the Period[14]. - Revenue from the renewable energy business decreased by 31.2% to approximately RMB1.1 million due to reduced demand in the domestic market[15]. - The Group's revenue for the six months ended June 30, 2024, was RMB 186,491,000, an increase from RMB 179,417,000 in the same period of 2023, representing a growth of approximately 6.0%[97]. - Sales of outdoor wooden products amounted to RMB 185,431,000, while sales of renewable energy products were RMB 1,060,000 for the same period[97]. - The revenue from the primary geographical market of Australasia was RMB 135,804,000, contributing significantly to the overall revenue[100]. Profitability and Loss - The gross profit margin decreased to 7.2% in 2024 from 12.1% in 2023, resulting in a gross profit of RMB13.4 million, down from RMB21.7 million[7]. - The Group recorded a loss of approximately RMB1.7 million for the Period, compared to a profit of RMB2.7 million in the previous year[22]. - Loss for the period was RMB 1,715,000, a decline from a profit of RMB 2,733,000 in the same period last year[76]. - The consolidated loss after taxation for the first half of 2024 was RMB 1,715,000, compared to a profit of RMB 2,733,000 in the same period of 2023[108]. - Loss before taxation for the six months ended June 30, 2024, was RMB 8,804,000, compared to RMB 3,052,000 in 2023, indicating a significant increase in losses[120]. Expenses and Costs - Selling and distribution expenses rose by 24.1% to RMB10.8 million, mainly due to increased shipping and other selling expenses[18]. - Administrative expenses decreased to RMB18.0 million, attributed to increased research and development costs and corporate expenses[22]. - Finance costs increased to approximately RMB8.8 million, mainly representing interest payments for bank loans[22]. - The cost of inventories for the six months ended June 30, 2024, was RMB 173,110,000, up from RMB 157,681,000 in 2023, reflecting an increase of 9.8%[121]. - Research and development costs decreased to RMB 960,000 in 2024 from RMB 2,637,000 in 2023, a reduction of 63.6%[121]. Financial Position - As of June 30, 2024, the Group had current assets of RMB475.3 million, with cash and cash equivalents at RMB13.6 million[22]. - Total current liabilities rose to RMB 247,525,000 from RMB 165,199,000, indicating an increase of 49.7%[77]. - Current assets increased to RMB 722,837,000, compared to RMB 515,109,000 at the end of 2023, representing a growth of 40.3%[77]. - Total equity as of June 30, 2024, was RMB 876,674, a slight increase from RMB 872,372 at the end of 2023, reflecting a growth of approximately 0.3%[78]. - The company’s retained profits as of June 30, 2024, were RMB 55,538, compared to RMB 62,752 as of June 30, 2023, indicating a decrease of about 11.5%[80]. Shareholder Information - Mr. Wu Zheyan holds a total of 10,695,407 shares, representing approximately 11.61% of the company's shareholding interest[43]. - Green Seas Capital Limited, wholly owned by Mr. Wu Zheyan, holds 8,992,948 shares, accounting for 9.76% of the total shares[46]. - Hong Kong Cheng Kun Holdings Limited owns 8,472,000 shares, which is 9.19% of the company's total shares[46]. - Hong Kong Guoyuan Group Capital Holdings Limited has a significant holding of 14,035,000 shares, representing 15.23%[46]. - Ms. Han Hong holds 9,965,390 shares, which is approximately 10.82% of the company's shareholding[48]. Corporate Governance and Compliance - The interim financial report is unaudited, with detailed financial statements provided in the report[2]. - The Group has complied with the Corporate Governance Code, except for provisions C.5.1 and D.1.2[61]. - The auditor's report on the financial statements for the year ended December 31, 2023, was unqualified, indicating no significant issues were raised[92]. - The financial statements for the year ended December 31, 2023, have been delivered to the Registrar of Companies as required by law[92]. Market and Economic Environment - The Group's customers remained conservative in purchasing due to global economic instability, impacting overall sales performance[11]. - Global GDP growth is expected to be around 2.8% in 2024 and 2025, with risks tilted to the downside due to geopolitical uncertainties[31]. - The management discussion highlights challenges in the market environment affecting sales strategies and future outlook[7]. Future Outlook and Strategies - The Group's performance in the first half of 2024 shows a positive trend, indicating potential for future growth in both product categories[97]. - Future strategies include exploring new markets and potential acquisitions to drive growth in both segments[102]. - The Group is focusing on expanding its manufacturing capabilities in both wooden and renewable energy products to enhance market presence[102]. Share Option and Award Schemes - The Share Option Scheme allows the Board to grant options to eligible participants, with a maximum of 10% of the total shares issued (100,000,000 shares) post-Global Offering[50]. - The Share Award Scheme permits the issuance of up to 20% of the total issued shares (741,200,400 shares), with a maximum of 2% awarded to any selected individual[54]. - The Group granted 3,900,000 Award Shares to 7 employees, representing approximately 4.23% of the total shares in issue, with a vesting period of 12 months[164]. - The Board resolved not to declare any interim dividend for the Period[61].

Financial Performance - The Group's revenue increased by 4% to RMB186.5 million for the six months ended June 30, 2024, compared to RMB179.4 million in the same period last year[10]. - The gross profit margin decreased to 7.2% during the period, down from 12.1% in the previous year[10]. - The Group recorded a gross profit of RMB13.4 million, a decline from RMB21.7 million in the corresponding period of the previous year[10]. - Revenue from wooden products increased by 4.2% to RMB185.4 million, accounting for 99.4% of total revenue during the period[14]. - Revenue from renewable energy products decreased by 31.2% to approximately RMB1.1 million, primarily due to reduced demand in the domestic market[18]. - Other revenue surged by 171.0% to RMB27.9 million, driven by increased interest income from bank deposits[19]. - The total revenue for the period was RMB186.5 million, up from RMB179.4 million in the previous year[17]. - The Group recorded a loss of approximately RMB1.7 million for the period, compared to a profit of RMB2.7 million in the previous period[25]. - The company reported a profit for the period of RMB (1,715) for the six months ended June 30, 2024, compared to a profit of RMB2,329 for the same period in 2023[82]. - The basic and diluted loss per share for the six months ended June 30, 2024, was RMB (0.0183), compared to earnings of RMB 0.0297 in the same period of 2023[77]. Expenses and Costs - Selling and distribution expenses rose by 24.1% to RMB10.8 million, mainly due to higher shipping and other selling costs[21]. - Administrative expenses decreased to RMB18.0 million from RMB12.8 million in the previous period, attributed to increased research and development costs[25]. - Finance costs increased to approximately RMB8.8 million from RMB3.1 million, primarily due to interest payments for bank loans[25]. - Interest expense on bank loans and debentures rose significantly to RMB8,804,000 in 2024 from RMB3,050,000 in 2023, indicating a substantial increase in financing costs[123]. Assets and Liabilities - Current assets as of June 30, 2024, amounted to RMB475.3 million, up from RMB349.9 million as of December 31, 2023[25]. - Total banking facilities utilized reached RMB132.0 million, an increase from RMB86.9 million as of December 31, 2023[25]. - Total non-current assets decreased to RMB418,098, down from RMB539,632 as of December 31, 2023, representing a decline of approximately 22.5%[80]. - Total current liabilities increased to RMB247,525 from RMB165,199, reflecting a rise of approximately 49.8%[81]. - The company’s cash and cash equivalents decreased to RMB13,615 from RMB32,499, a decline of approximately 58.1%[80]. - The total trade and other payables as of June 30, 2024, were RMB98,633,000, an increase from RMB58,043,000 as of December 31, 2023[150]. - Trade receivables as of June 30, 2024, totaled RMB53,665,000, an increase from RMB48,821,000 as of December 31, 2023[143]. Shareholding and Corporate Governance - Mr. Wu Zheyan holds a total of 10,695,407 shares, representing approximately 11.61% of the total shareholding interest[46]. - Green Seas Capital Limited, a beneficial owner, holds 8,992,948 shares, accounting for 9.76% of the total shareholding interest[49]. - The Group has no material events after the reporting period[40]. - The Group's compensation policy is based on individual employee performance and is regularly reviewed[41]. - There have been changes in the board of directors, with two independent non-executive directors resigning on July 29, 2024[40]. Operational Highlights - The principal segment of the group, manufacturing and sales of wooden products, remains the largest income stream[17]. - The group experienced a reportable segment loss of RMB609,000 in wooden products, compared to a loss of RMB472,000 in the previous year[14]. - The company continues to focus on increasing automation and enhancing employee training to maintain competitiveness[41]. - The company has identified two reportable segments: manufacturing and sales of wooden products and manufacturing and sales of renewable energy products, with no aggregation of operating segments[105]. Market and Economic Conditions - The global GDP growth is expected to be around 2.8% in 2024 and 2025, with risks tilted to the downside due to geopolitical uncertainties[34]. - The geographical revenue breakdown shows that revenue from the PRC decreased to RMB15,125,000 in 2024 from RMB29,657,000 in 2023, indicating a significant decline in domestic sales[115]. Cash Flow and Financing Activities - Net cash generated from operating activities for the six months ended June 30, 2024, was RMB20,811,000, compared to a net cash used of RMB31,340,000 in the same period of 2023[91]. - Proceeds from new bank loans amounted to RMB65,000,000, while repayments were RMB19,900,000, resulting in a net cash from financing activities of RMB36,296,000, compared to RMB37,300,000 in 2023[91]. - The company reported an increase in cash generated from operations, indicating improved operational efficiency[91]. Share Option and Award Schemes - The Share Option Scheme allows for a maximum of 10% of the total shares in issue (100,000,000 shares) to be granted under the scheme[52]. - The Group granted 3,900,000 Award Shares to 7 employees, representing approximately 4.23% of the total shares in issue, with a vesting period of 12 months[168]. - The Share Award Scheme is valid for a term of 10 years from the adoption date, unless terminated early by the board of directors[57].

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 297,530,000, a decrease of 36% compared to RMB 465,037,000 in 2022[10] - Gross profit for 2023 was RMB 20,178,000, down 62.6% from RMB 53,873,000 in 2022[10] - Loss before tax from continuing operations was RMB 1,898,000, an improvement from a loss of RMB 7,143,000 in 2022[10] - Loss for the year from continuing operations was RMB 2,364,000, compared to a loss of RMB 6,784,000 in 2022[12] - Basic loss per share for the year was RMB 0.03, consistent with the loss per share of RMB 0.08 in 2022[12] - Revenue from wooden products decreased by 36.0% to RMB295.1 million in 2023, down from RMB460.7 million in 2022, contributing 99.2% of total revenue[24] - Revenue from renewable energy products fell by 43.1% to RMB2.4 million in 2023, compared to RMB4.3 million in 2022[25] - Gross profit dropped to approximately RMB20.2 million in 2023, down from RMB53.9 million in 2022, with a gross margin decline to 6.8% from 11.6%[30] - Other revenue increased to RMB 24,775,000 in 2023, up from RMB 15,826,000 in 2022, representing a growth of 56.5%[10] Expenses and Liabilities - Selling and distribution expenses decreased to RMB 14,650,000, down 58.8% from RMB 35,533,000 in 2022[10] - Administrative expenses were reduced to RMB 31,836,000, a decrease of 33.5% compared to RMB 48,028,000 in 2022[10] - Finance costs increased to approximately RMB1.4 million in 2023 from RMB1.0 million in 2022, primarily due to interest on bank borrowings[40] - Total liabilities rose to RMB182.4 million in 2023, compared to RMB136.2 million in 2022, marking an increase of 33.9%[16] Assets and Financial Position - Total assets increased to RMB1,054.7 million in 2023, up from RMB1,016.6 million in 2022, representing a growth of 3.3%[16] - As of December 31, 2023, current assets were RMB515.1 million, down from RMB562.6 million in 2022, with cash and cash equivalents decreasing to RMB32.5 million from RMB113.8 million[42] - The current ratio and quick ratio as of December 31, 2023, were 3.1:1 and 2.4:1, respectively, down from 4.3:1 and 3.6:1 in 2022[44] Corporate Governance - The Board is committed to high standards of corporate governance, which includes effective internal control procedures to manage and lower associated risks[67] - The company has complied with all applicable code provisions in the Corporate Governance Code throughout the year, except for certain disclosed deviations[68] - The Board held only two regular meetings during the year, which is below the recommended minimum of four meetings[80] - The company has maintained a Board composition of two executive Directors and three independent non-executive Directors, ensuring adequate checks and balances[90] - The company emphasizes transparency and accountability to its shareholders and creditors through its governance practices[67] Risk Management - The Company has established a comprehensive risk management framework to evaluate and manage various risks, including market, credit, operational, and liquidity risks[27] - The Board is responsible for maintaining effective risk management and internal control systems to achieve strategic objectives[174] - The management has implemented policies and procedures to safeguard assets and ensure the reliability of financial information[175] - The Company has established effective risk management and internal control systems, reviewed annually, ensuring adequate protection against significant misstatements or losses[176] Future Outlook - The Group anticipates a weak global economic outlook, with global trade growth projected at only 3.3% in 2024, lower than the historical average of 4.9%[62] - The global economic outlook remains uncertain due to factors such as high inflation and financial instability, with the IMF predicting global trade growth of only 3.3% in 2024, below the historical average of 4.9%[65] - The company plans to adopt a cautious approach while attempting to expand its business footprint to stabilize shareholder returns[65] Environmental Responsibility - The Group is committed to minimizing its carbon footprint, implementing practices such as duplex printing and efficient paper usage[189] - The Group's energy consumption practices aim to reduce unnecessary electricity usage, contributing to its environmental responsibility[193] Third-Party Services - The group relies on third-party service providers to enhance performance and efficiency[200] - Management acknowledges that dependence on external services may expose the group to risks such as service quality issues and potential financial losses[200] - The group only engages reputable third-party service providers to mitigate uncertainties[200] - Performance of third-party providers is closely monitored by the management[200]

Financial Performance - The total revenue for the year ended December 31, 2023, was RMB 297.53 million, a decrease of 36% compared to RMB 465.04 million in 2022[4] - The gross profit for the year was RMB 20.18 million, down 62.6% from RMB 53.87 million in the previous year[4] - The net loss for the year was RMB 2.36 million, improving from a net loss of RMB 6.78 million in 2022[4] - Other income increased to RMB 24.78 million from RMB 15.83 million, representing a growth of 56.5%[4] - The total revenue for outdoor wooden products decreased to RMB 295,084 thousand in 2023 from RMB 460,742 thousand in 2022, representing a decline of approximately 36%[18] - Revenue from renewable energy products also fell to RMB 2,446 thousand in 2023 compared to RMB 4,295 thousand in 2022, a decrease of about 43%[18] - The total reportable segment revenue for wooden products was RMB 298,910 thousand in 2023, down from RMB 465,891 thousand in 2022, reflecting a decline of approximately 36%[25] - The reportable segment loss (excluding government subsidies) for wooden products was RMB (6,120) thousand in 2023, compared to a loss of RMB (11,548) thousand in 2022[25] - The company reported a loss attributable to shareholders of RMB 2,364,000 for the year ended December 31, 2023, compared to a loss of RMB 6,558,000 for the previous year, indicating a significant improvement in performance[40] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 1,404.74 million, compared to RMB 1,114.59 million in 2022, indicating a growth of 25.9%[10] - Current liabilities increased to RMB 165.20 million from RMB 129.52 million, a rise of 27.5%[12] - The company’s cash and cash equivalents decreased to RMB 32.50 million from RMB 113.77 million, a decline of 71.5%[10] - Non-current assets totaled RMB 539.63 million, an increase from RMB 453.99 million in 2022, reflecting a growth of 18.8%[10] - Total liabilities increased from RMB 136,214 thousand in 2022 to RMB 182,369 thousand in 2023, an increase of about 34%[29] - Trade receivables decreased to RMB 62,181,000 in 2023 from RMB 64,665,000 in 2022, while total trade and other receivables amounted to RMB 113,143,000, down from RMB 122,955,000[41] - Trade payables increased to RMB 32,505,000 in 2023 from RMB 18,531,000 in 2022, indicating a rise in short-term liabilities[45] Expenses and Income - Selling and distribution expenses were RMB 14.7 million, down from RMB 35.5 million in 2022, due to decreased sales volume[62] - Administrative expenses decreased to RMB 31.8 million from RMB 48.0 million, mainly due to reduced R&D spending[63] - Financing costs rose to approximately RMB 1.4 million from RMB 1.0 million, primarily due to bank loan interest[64] - Interest income from bank deposits rose to RMB 16,194 thousand in 2023 from RMB 7,817 thousand in 2022, an increase of approximately 107%[31] - The company recognized income tax expenses of RMB 466,000 for 2023, compared to a tax credit of RMB 359,000 in 2022, reflecting a shift in tax obligations[35] Shareholder Information - The company reported a basic and diluted loss per share of RMB 0.03 for the year, unchanged from the previous year[9] - The weighted average number of ordinary shares for calculating basic loss per share increased to 92,137,051 in 2023 from 87,234,989 in 2022 due to a share consolidation[36] - A share consolidation was approved, merging every 10 existing shares into 1, effective January 2, 2024[53] - The board did not recommend a final dividend for the year ending December 31, 2023[81] Operational Changes - The company has implemented new and revised international financial reporting standards, which did not have a significant impact on the financial position and performance for the year[14] - The company completed the sale of its subsidiary, Zhangzhou Xingruixiang Supply Chain Management Co., Ltd., on November 3, 2023, with proceeds of approximately RMB 838,000[44] - The company has no forfeited contributions under its retirement benefit plans in China and Hong Kong for the years ended December 31, 2023, and December 31, 2022[34] - The company’s investment properties are recorded at cost less accumulated depreciation and impairment, with no specific figures provided for the year[39] Market Outlook - The IMF warned of a potential global economic slowdown due to high inflation and financial instability, predicting global trade growth of only 3.3% in 2024[73] - The group will continue to adopt a prudent approach and aims to expand its business footprint to stabilize shareholder returns[73]