Financial Performance - For the year ended December 31, 2024, total revenue from packaging products and components was approximately RMB 250,802,000, a decrease of about 25.5% from RMB 336,623,000 in 2023[9]. - For the fiscal year ending December 31, 2024, the company reported revenue of approximately RMB 252,949,000, a decrease of 25.8% compared to RMB 340,918,000 for the fiscal year ending December 31, 2023[22]. - The loss attributable to shareholders for the fiscal year ending December 31, 2024, was approximately RMB 105,586,000, an increase from RMB 68,295,000 for the fiscal year ending December 31, 2023[22]. - The group recorded a net loss of approximately RMB 108,075,000 for the year ending December 31, 2024[178]. - Total comprehensive loss for the year was RMB 121,774,000, up from RMB 72,065,000 in 2023, indicating a significant increase in losses[165]. - The company reported a significant impairment of property, plant, and equipment amounting to RMB 22,129,000 for the year[164]. - Basic and diluted loss per share was RMB (32.28) compared to RMB (30.92) in 2023, reflecting a worsening in per-share performance[164]. Cost and Expenses - The cost of sales for the year was approximately RMB 256,421,000, a reduction of about RMB 72,595,000 or 22.1% compared to RMB 329,016,000 in 2023[10]. - The gross loss margin increased to approximately 2.2% for the year ended December 31, 2024, compared to a gross profit margin of approximately 2.3% in 2023[11]. - The employee count decreased to 345 as of December 31, 2024, from 491 in 2023, with total employee benefit expenses around RMB 47,003,000, down from RMB 52,820,000 in 2023[31]. - The company incurred a depreciation expense of RMB 7,290,000 for property, plant, and equipment, up from RMB 5,440,000 in the previous year, indicating increased investment in fixed assets[171]. Liquidity and Financing - As of December 31, 2024, the company's total borrowings amounted to approximately RMB 485,570,000, an increase from RMB 451,721,000 as of December 31, 2023[24]. - The company reported a bank balance and cash of approximately RMB 39,922,000 as of December 31, 2024, compared to RMB 19,290,000 as of December 31, 2023[24]. - The company raised approximately HKD 15,780,000 through a rights issue, issuing up to 197,282,636 new shares at a subscription price of HKD 0.08 per share, with the rights issue completed on June 4, 2024[15]. - The group anticipates estimated proceeds of RMB 59,000,000 from the sale of investment properties in Singapore[182]. - The group is actively seeking additional financing options to improve liquidity[182]. Corporate Governance - The company has adopted corporate governance practices in line with the Hong Kong Stock Exchange's guidelines, ensuring compliance and transparency[38]. - The board of directors consists of experienced members, with at least one independent non-executive director possessing appropriate accounting expertise[40]. - The company has established a shareholder communication policy to ensure effective communication with shareholders since March 16, 2012[76]. - The company is committed to maintaining open and effective communication with shareholders, particularly through annual general meetings[71]. - The company has adopted a remuneration policy that includes a bonus sharing arrangement to incentivize and retain employees[120]. Market and Operational Challenges - The company is facing challenges due to inflationary pressures affecting operational costs and aims to improve efficiency and monitor expenditures closely[11]. - The company continues to seek new customers while striving to maintain optimal gross margins amid competitive pressures[11]. - The company has identified various risks affecting its financial condition and operational performance, including market risks related to currency exchange rates and property market performance in Hong Kong and Singapore[94][96]. - The company faces human resource risks related to attracting and retaining skilled personnel, which may lead to increased labor costs[97]. Asset Management - The group’s non-current assets decreased to RMB 102,202,000 from RMB 117,700,000, a decline of approximately 13%[166]. - The group recognized an impairment loss of approximately RMB 22,129,000 for cash-generating units, including property, plant, and equipment, and RMB 1,712,000 for right-of-use assets as of December 31, 2024[151]. - Accounts receivable (net of impairment) stood at RMB 62,889,000 as of December 31, 2024, representing about 23% of the total assets, with an accumulated impairment provision of RMB 3,080,000[149]. Future Outlook - The company plans to list its investment property for sale to improve liquidity, which may require compliance with listing rules and shareholder approval[14]. - The company will continue to focus on the development of new businesses, including gas filtration media and equipment, as well as rosewood furniture, while seeking opportunities for revenue diversification[21]. - The company anticipates that private property prices in Singapore will continue to rise in 2025, driven by limited supply and strong demand, with GDP growth expected to be at least 2% to 3%[19].

Financial Performance - For the fiscal year ending December 31, 2024, Teamway International Group Holdings Limited reported total revenue of RMB 252,949,000, a decrease of 26% compared to RMB 340,918,000 in the previous year[3]. - The company incurred a gross loss of RMB 4,414,000 for the year, contrasting with a gross profit of RMB 9,160,000 in the prior year[3]. - The net loss for the year was RMB 108,075,000, which is a significant increase from the net loss of RMB 68,756,000 in the previous year, representing a 57% increase in losses[3]. - The company reported a basic and diluted loss per share of RMB 32.28, compared to RMB 30.92 in the previous year[3]. - The company reported a pre-tax loss of RMB 108,268,000 for the year ended December 31, 2024, compared to a pre-tax loss of RMB 70,352,000 in 2023, indicating a worsening financial performance[22]. - The company's pre-tax loss for 2024 was RMB 105,586,000, compared to RMB 68,295,000 in 2023, indicating an increase in losses[37]. - The loss attributable to the owners of the company for the year ended December 31, 2024, was approximately RMB 105,586,000, an increase from RMB 68,295,000 for the year ended December 31, 2023[59]. Financial Position - Total liabilities exceeded total assets by RMB 306,194,000 as of December 31, 2024, indicating a significant financial strain[7]. - The company’s current liabilities exceeded current assets by RMB 227,808,000, raising concerns about its liquidity position[9]. - The total assets of the company as of December 31, 2024, amounted to RMB 271,603,000, compared to RMB 319,129,000 in 2023, indicating a decrease in total assets[24]. - The total liabilities of the company as of December 31, 2024, were RMB 577,797,000, an increase from RMB 517,551,000 in 2023, reflecting a rise in financial obligations[25]. - The company’s financial liabilities as of the end of the reporting period amounted to RMB 306,194,000, indicating significant leverage concerns[44]. - The capital debt ratio as of December 31, 2024, was 1.79, compared to 1.42 in 2023[69]. Liquidity and Financing - The company plans to sell investment properties in Singapore, with estimated proceeds of RMB 59,000,000 to improve liquidity[12]. - Teamway International Group is actively seeking additional financing options to enhance its liquidity situation[12]. - The company has received ongoing financial support from major shareholders, which is crucial for its operational continuity[12]. - The group plans to raise up to approximately HKD 15,780,000 through a rights issue, issuing up to 197,282,636 new shares at a subscription price of HKD 0.08 per share[52]. - The company completed a rights issue on June 3, 2024, issuing a total of 197,279,115 shares, with net proceeds of approximately HKD 14,670,000 used for repaying outstanding borrowings and general working capital[76]. Asset Management - The impairment of property, plant, and equipment amounted to RMB 22,129,000, reflecting challenges in asset management[3]. - The company experienced a fair value loss on investment properties of RMB 1,043,000 in 2024, compared to a loss of RMB 1,594,000 in 2023, showing a reduction in losses[30]. - The company’s depreciation expense for property, plant, and equipment was RMB 6,723,000 in 2024, compared to RMB 5,114,000 in 2023, indicating increased asset usage[22]. - The company’s inventory provision was RMB 1,863,000 in 2024, up from RMB 1,830,000 in 2023, suggesting a slight increase in inventory write-downs[22]. Revenue Sources - External customer revenue for the year ended December 31, 2024, was RMB 252,949,000, a decrease from RMB 340,918,000 in 2023, representing a decline of approximately 26%[27]. - Revenue from packaging products and structural components for 2024 was RMB 250,802,000, a decrease from RMB 336,623,000 in 2023, reflecting a decline of approximately 25.4%[46]. - Major customer A contributed RMB 137,428,000 in revenue for 2024, down from RMB 170,746,000 in 2023, while major customer B contributed RMB 61,201,000, down from RMB 83,923,000[29]. - The company’s total rental income from investment properties was RMB 1,125,000 in 2024, compared to RMB 927,000 in 2023, showing an increase of about 21.3%[32]. Operational Efficiency - The group aims to optimize production processes in its Chinese factories to alleviate high production costs and expects an improvement in gross profit margin once new production facilities are fully operational[55]. - The group has established long-term relationships with key suppliers to ensure stable supply and timely delivery of quality raw materials and components, with no significant procurement difficulties reported for the year[49]. - The group has a strategy for property investment, which may contribute to its overall financial performance and market expansion[20]. - The group has a total annual production capacity of 11,800 tons for packaging products and structural components, sufficient to respond quickly to market demand[50]. Compliance and Governance - The group has prepared its financial statements in accordance with Hong Kong Financial Reporting Standards and the Companies Ordinance, with amounts presented in Renminbi (RMB) rounded to the nearest thousand[13]. - The group has applied new amendments to Hong Kong Financial Reporting Standards effective from January 1, 2024, but these amendments did not have a significant impact on the group's financial performance and position[16]. - The group has not early adopted new financial reporting standards that are issued but not yet effective, indicating a cautious approach to regulatory changes[18]. - The company has adhered to the corporate governance code as per the listing rules for the year ending December 31, 2024[78]. - The audit committee consists of three independent non-executive directors, with Dr. Zeng Qingyun as the chairman[79]. - The external auditor confirmed that the consolidated performance data for the year ending December 31, 2024, aligns with the audited consolidated financial statements[79]. Future Outlook - The outlook for 2025 remains challenging due to economic uncertainties, but the group will continue to enhance operational efficiency and seek growth opportunities to ensure sustainable profitability[58]. - The Singapore private property prices are expected to continue rising in 2025, driven by limited supply and strong demand, with GDP growth projected at 2% to 3%[56]. - The group is focused on developing new businesses, including gas filtration media and equipment, as well as rosewood furniture, to diversify revenue sources and enhance long-term growth[58].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 142,483,000, a decrease of 22.6% from RMB 183,909,000 in the same period of 2023[3] - Gross loss for the period was RMB 3,897,000 compared to a gross profit of RMB 8,582,000 in the previous year[3] - The net loss attributable to owners of the company was RMB 44,648,000, an increase of 91.3% from RMB 23,325,000 in the prior year[4] - The company reported a basic and diluted loss per share of RMB 0.1647 for the six months ended June 30, 2024, compared to RMB 0.1190 in the same period of 2023[3] - The company’s total comprehensive loss for the period was RMB 55,417,000, compared to RMB 38,519,000 in the previous year[4] - The company reported a net loss of RMB 44,648,000 for the six months ended June 30, 2024, compared to a net loss of RMB 25,218,000 for the same period in 2023[10] - The company’s total comprehensive loss for the period was RMB 54,467,000, reflecting ongoing operational challenges[10] - The loss attributable to the owners of the company for the six months ended June 30, 2024, was approximately RMB 43,695,000, an increase of about RMB 20,333,000 compared to a loss of RMB 23,362,000 for the same period in 2023[54] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 292,912,000, a decrease from RMB 319,129,000 as of December 31, 2023[5] - Current liabilities increased to RMB 347,825,000 from RMB 323,482,000 at the end of 2023, resulting in a net current liability of RMB 176,962,000[5] - Non-current assets totaled RMB 122,049,000, up from RMB 117,700,000 at the end of 2023[5] - The company's total liabilities exceeded its total assets by RMB 239,196,000 as of June 30, 2024, indicating significant financial distress[11] - Total assets amount to RMB 292,912,000, with total liabilities of RMB 532,108,000 as of June 30, 2024[23] Cash Flow and Financing - Cash and cash equivalents decreased to RMB 19,025,000 as of June 30, 2024, down from RMB 30,570,000 at the end of the previous period[10] - Operating cash flow was RMB 1,373,000 for the six months ended June 30, 2024, a significant improvement from a cash outflow of RMB 25,218,000 in the prior year[10] - The company’s cash flow from financing activities was RMB 4,890,000 for the six months ended June 30, 2024, compared to RMB 35,643,000 in the previous year[10] - The company is actively seeking additional financing options to improve liquidity[12] - The company received ongoing financial support from major shareholders[12] Business Operations - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[6] - The company has four business segments: packaging products, air purification media, rosewood furniture, and property investment[14] - The company is diversifying its revenue streams by developing new businesses in filtration media and equipment, as well as hardwood furniture[53] - The company is focusing on high-quality development to attract high-end and loyal customer segments[53] - The company is facing significant challenges in the business environment, with rising sales costs leading to a decline in gross margins[51] Share Capital and Corporate Actions - The company issued 130,435,000 shares at a price of HKD 0.092 per share, raising a total of HKD 12,000,000 (approximately RMB 10,568,000) before expenses[38] - A capital reorganization was approved, which included a consolidation of every four existing shares into one share with a par value of HKD 0.16[39] - The company completed a rights issue of 133,699,000 shares and a placement of 63,580,000 new shares at a subscription price of HKD 0.08 per share, raising a total of HKD 15,782,000[39] - The company completed a capital restructuring on March 14, 2024, which included a capital reduction and share split, reducing the par value of shares from HKD 0.16 to HKD 0.01[57] - The board has decided not to declare an interim dividend for the six months ending June 30, 2024, consistent with the previous period[65] Market Conditions and Future Outlook - The company anticipates significant uncertainty regarding its ability to continue as a going concern[12] - The company anticipates that Singapore real estate prices will stabilize at high levels in 2024, despite a slowdown in market activity due to economic uncertainties[52] - The company has no foreign currency hedging policy but monitors foreign exchange risks due to recent fluctuations in the RMB[59] Miscellaneous - The company has established long-term relationships with suppliers to ensure stable supply and timely delivery of quality raw materials[47] - The company had no significant contingent liabilities as of June 30, 2024, consistent with the previous year[58] - The company has no outstanding stock options under its stock option plan, which expired in June 2021[63] - No significant acquisitions, sales, or investments were made by the group for the six months ending June 30, 2024[65] - The company has fully complied with the corporate governance code during the six months ending June 30, 2024[65]

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of RMB 142,483,000, a decrease of 22.6% compared to RMB 183,909,000 for the same period in 2023[2] - The gross loss for the period was RMB 3,897,000, compared to a gross profit of RMB 8,582,000 in the previous year, indicating a significant decline in profitability[2] - The company incurred a loss before tax of RMB 45,436,000, which is a 55.9% increase from the loss of RMB 29,125,000 reported in the same period last year[2] - The net loss for the period was RMB 44,648,000, compared to RMB 23,325,000 in the prior year, reflecting a year-over-year increase of 91.3%[2] - Basic and diluted loss per share was RMB 16.47, compared to RMB 11.90 in the previous year, representing a 38.5% increase in loss per share[2] - The group reported a total loss before tax of RMB 45,436,000 for the six months ended June 30, 2024, compared to a loss of RMB 29,125,000 for the same period in 2023[11] - The loss attributable to the owners of the company for the six months ended June 30, 2024, was approximately RMB 43,695,000, an increase of about RMB 20,333,000 compared to a loss of RMB 23,362,000 for the same period in 2023[41] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 170,863,000, down from RMB 201,429,000 at the end of 2023, indicating a decrease of 15.1%[4] - The company's total liabilities increased to RMB 347,825,000 from RMB 323,482,000, marking a rise of 7.5%[4] - The net liabilities of the company stood at RMB 239,196,000, up from RMB 198,422,000, reflecting an increase of 20.5%[5] - The group’s total assets amount to RMB 292,912,000, with total liabilities of RMB 532,108,000, resulting in a negative equity situation[12] - Total assets as of December 31, 2023, amounted to RMB 303,773,000, with liabilities totaling RMB 517,551,000[13] Cash Flow and Financing - The group is actively seeking additional financing options to improve liquidity, with significant uncertainty regarding its ability to continue as a going concern[7] - The company has utilized approximately HKD 13,000,000 of the proceeds from the rights issue to repay outstanding borrowings and for general working capital[44] - The company plans to raise a total of approximately HKD 15,780,000 through a rights issue, with the net proceeds expected to be around HKD 14,670,000 after expenses[43] - The outstanding loan balance owed to a related party was RMB 148,979,000, with an interest expense of RMB 1,518,000 for the period[28] - The group has a loan agreement with a principal amount of HKD 200,000,000, with an outstanding principal of HKD 155,000,000 (equivalent to RMB 144,000,000) due by June 30, 2024, at an interest rate of 18%[7] Revenue Segments - The group’s segment revenue from packaging products and components was RMB 141,112,000 for the six months ended June 30, 2024, compared to RMB 183,494,000 in the same period of 2023, indicating a decline of approximately 23.1%[11] - Revenue for the packaging products and components business decreased to RMB 141,112,000, a decline of approximately RMB 42,382,000 or 23.1% compared to RMB 183,494,000 for the same period last year[30] - The four major products contributing to revenue were televisions, washing machines, air conditioners, and refrigerators, totaling approximately RMB 135,823,000, accounting for 96.3% of segment revenue[31] Operational Challenges - The company reported a significant overdue loan amounting to RMB 233,711,000, raising concerns about its ability to continue as a going concern[6] - The group is facing legal proceedings related to overdue loans, with case management meetings scheduled for April 24, 2025, and July 23, 2025[7] - The gross profit margin declined primarily due to rising sales costs and a lack of competitive advantage in large-scale production[33] Shareholder and Governance - The group has received ongoing financial support from major shareholders, which is critical for its operations[7] - The company has adopted the corporate governance code and has been in full compliance with applicable code provisions during the reporting period[59] - The audit committee reviewed the unaudited consolidated financial statements for the six months ended June 30, 2024, in conjunction with the management team[60] Capital and Investments - The company issued 130,435,000 shares at a subscription price of HKD 0.092 per share, raising a total of HKD 12,000,000[26] - A capital restructuring was approved, including a consolidation of every four existing shares into one share with a par value of HKD 0.16, effective November 29, 2023[27] - The company completed a rights issue of 133,699,000 shares and a placement of 63,580,000 new shares, raising a total of HKD 15,782,000[27] - The company did not engage in any significant acquisitions, disposals, or investments during the six months ended June 30, 2024[55] Market Outlook - The Singapore real estate market is expected to stabilize at high levels in 2024, despite a slowdown in market activity due to economic uncertainties[39] - The company anticipates that the new business ventures in filtration media and equipment, as well as hardwood furniture, will help diversify its revenue streams[40] Other Financial Metrics - Interest income for the six months ended June 30, 2024, decreased to RMB 123,000 from RMB 223,000 in the same period of 2023, reflecting a decline of 44.8%[14] - The total financial costs for the six months ended June 30, 2024, were RMB 3,300,000, an increase from RMB 2,790,000 in the same period of 2023, reflecting an increase of 18.3%[15] - The company reported a net foreign exchange loss of RMB 1,832,000 for the six months ended June 30, 2024, compared to a loss of RMB 337,000 in 2023, indicating a significant increase in losses[14] - The company has no tax provisions for Hong Kong profits tax due to no taxable profits generated in the period[18] - The company had no significant contingent liabilities, consistent with the previous year[49] - The company pledged assets worth approximately RMB 23,117,000 to banks as of June 30, 2024, compared to RMB 22,502,000 as of December 31, 2023[50] - The debt-to-equity ratio increased to 1.56 as of June 30, 2024, from 1.42 as of December 31, 2023[51]

Revenue and Sales Performance - Total revenue for the packaging products and components business was RMB 336.623 million in 2023, a decrease of approximately 12.4% from RMB 384.372 million in 2022[8]. - The major contributors to revenue were air conditioning products, washing machines, televisions, and refrigerators, accounting for approximately RMB 304.95 million or 90.6% of total segment revenue in 2023[9]. - The revenue from air conditioning products was RMB 86.2 million, accounting for 25.6% of total revenue in 2023[8]. - Revenue from washing machines was RMB 82.405 million, representing 24.5% of total revenue in 2023[8]. - Revenue from televisions was RMB 68.968 million, contributing 20.5% to total revenue in 2023[8]. - For the year ended December 31, 2023, the company recorded revenue of approximately RMB 340,918,000, a decrease of 11.5% compared to RMB 385,163,000 for the year ended December 31, 2022[26]. - Sales to the top five customers accounted for approximately 86.0% of total revenue for the year ended December 31, 2023, compared to 88.7% in 2022, with the largest customer contributing about 50.1% of sales[161]. Financial Performance - The loss attributable to the company's owners for the year ended December 31, 2023, was approximately RMB 68,295,000, compared to a loss of RMB 49,601,000 for the year ended December 31, 2022[26]. - Basic and diluted loss per share for the year was RMB 36.85, compared to RMB 30.12 for the previous year[27]. - The company reported a net loss of RMB 68,756,000 for the year ended December 31, 2023, and had net current liabilities of RMB 122,053,000 and total liabilities of RMB 198,422,000 as of that date[173]. - The company reported a loss before tax of RMB 70,352,000, compared to a loss of RMB 50,149,000 in 2022, indicating a 40.2% increase in losses[191]. - The net loss for the year was RMB 68,756,000, which is a 38.5% increase from RMB 49,601,000 in 2022[191]. - The company incurred finance costs of RMB 6,046,000, significantly reduced from RMB 39,387,000 in 2022, reflecting a decrease of 84.7%[191]. - Total comprehensive loss for the year was RMB 72,065,000, compared to RMB 68,388,000 in 2022, indicating an increase of 5.3%[194]. Cost and Profitability - The cost of sales for the year was approximately RMB 329.016 million, an increase of about RMB 1.685 million or 0.5% compared to RMB 327.331 million in 2022[11]. - Gross profit margin decreased to approximately 2.3% in 2023 from 14.8% in 2022, primarily due to increased production costs from subcontracting[12]. - Gross profit for the same period was RMB 9,160,000, down 84.2% from RMB 57,832,000 in the previous year[191]. - Administrative expenses increased to RMB 35,670,000 from RMB 25,867,000, representing a rise of 37.8%[191]. Liquidity and Capital Management - The company plans to conduct a rights issue on January 10, 2024, to raise up to approximately HKD 15,780,000 to improve liquidity[18]. - The company has initiated the sale of its investment property to enhance liquidity, which represents a significant portion of its assets[16]. - As of December 31, 2023, the group's bank balance and cash amounted to approximately RMB 19,290,000, a decrease from RMB 33,265,000 in 2022, with 57.7% in HKD and 0.5% in USD[28]. - The group's bank borrowings as of December 31, 2023, were approximately RMB 33,000,000, an increase from RMB 10,000,000 in 2022, with a floating interest rate and due within two years[28]. - The company has a diversified business model, including segments in packaging products and property investment[111]. Governance and Compliance - The company has established a Nomination Committee to manage director appointments, ensuring that nominees are experienced and capable individuals[67]. - The board is responsible for setting the company's development goals, major acquisitions, capital investments, and dividend policies, ensuring alignment with shareholder interests[55]. - The company has provided ongoing professional development for all directors, enhancing their knowledge and skills related to corporate governance and compliance[61]. - The board has adopted internal guidelines for matters requiring board approval, ensuring effective governance and management oversight[55]. - The company has complied with the corporate governance code throughout the fiscal year ending December 31, 2023[139]. Risk Management - The company has identified key risks including market risk, business risk, and human resources risk, which could impact financial performance[113]. - The management is closely monitoring liquidity risk to ensure sufficient cash flow and maintain adequate cash reserves[119]. - The company is committed to managing foreign exchange risks due to potential fluctuations in the Renminbi exchange rate[117]. - The company has a comprehensive financial risk management policy in place to address various financial risks[120]. - The board has established procedures for the continuous identification, assessment, and management of significant risks faced by the group[84]. Shareholder Relations - The company maintains a communication policy with shareholders, ensuring timely updates on business-related information within regulatory limits[88]. - The company encourages shareholder participation in meetings and has established various communication channels, including its website[94]. - The company has a policy in place for shareholders to propose resolutions at meetings, requiring at least one shareholder holding not less than 10% of the paid-up capital[93]. - The board members' attendance records at shareholder meetings indicate full participation by executive and independent non-executive directors[90]. Employee and Management - The total employee benefits expenditure for the group was approximately RMB 51,425,000 for the year ended December 31, 2023, down from RMB 55,896,000 in 2022, with a reduction in the number of employees from 598 to 491[39]. - The management team emphasizes a "people-oriented" management philosophy, focusing on employee development and performance evaluation[39]. - The company has adopted an employee reward system to incentivize and retain talent, including a bonus sharing arrangement[145]. - The company has a defined contribution retirement plan for eligible employees in China and a mandatory provident fund for employees in Hong Kong[147].

Financial Performance - For the year ended December 31, 2023, the company reported total revenue of RMB 340,918,000, a decrease of 11.5% from RMB 385,163,000 in 2022[4] - The gross profit for the year was RMB 9,160,000, down 84.2% from RMB 57,832,000 in the previous year[4] - The company recorded a net loss of RMB 68,756,000, compared to a net loss of RMB 49,601,000 in 2022, representing a 38.6% increase in losses[4] - The company’s basic and diluted loss per share for the year was RMB 36.85, compared to RMB 30.12 in the previous year[4] - The group reported a pre-tax loss of RMB 68,295,000 in 2023, compared to a loss of RMB 49,601,000 in 2022, indicating an increase in losses of approximately 37.5%[61] - The company reported a total pre-tax loss of RMB 70,352,000 for the fiscal year, which includes financial costs of RMB 6,046,000 and unallocated corporate expenses of RMB 11,924,000[36] Revenue Breakdown - For the fiscal year ending December 31, 2023, the total revenue from external customers was RMB 340,918,000, with the main segment being the sale of gas-phase filtration media generating RMB 336,623,000[36] - Revenue from packaging products and components decreased to RMB 336,623,000 in 2023 from RMB 384,372,000 in 2022, representing a decline of approximately 12.4%[52] - The company’s revenue from the gas-phase filtration media segment decreased by approximately 12.4% compared to the previous year, where it was RMB 384,372,000[38] - Major customers contributed significantly to revenue, with Customer A generating RMB 170,746,000 and Customer B contributing RMB 83,923,000 in the fiscal year 2023[50] Assets and Liabilities - The total liabilities as of December 31, 2023, amounted to RMB 198,422,000, an increase from RMB 145,325,000 in 2022[10] - Current liabilities exceeded current assets by RMB 122,053,000, indicating significant liquidity issues[14] - The company’s total assets as of December 31, 2023, were valued at RMB 319,129,000, with total liabilities amounting to RMB 517,551,000[41] - The company has pledged assets worth approximately RMB 17,537,000 to banks as of December 31, 2023, an increase from RMB 6,265,000 in the previous year[104] Cash Flow and Financing - The company’s cash and bank balances decreased to RMB 19,290,000 from RMB 33,265,000 in the previous year, a decline of 42.0%[9] - The group is actively seeking other potential financing options to improve liquidity[18] - The company has a loan of RMB 140,000,000 due from a borrower, which is secured by shares of a subsidiary, with an interest rate of 18%[16] - The company raised approximately HKD 44.5 million from a placement and public offering, with funds allocated for various operational needs[114] - Approximately HKD 12 million was raised from a share subscription, fully utilized for general working capital[116] - About HKD 50 million was raised from a rights issue, with approximately HKD 49.34 million used to repay outstanding borrowings[117] Operational Plans and Strategies - The company plans to focus on expanding its operations in air purification equipment and related accessories, as well as the design and sale of hardwood furniture[13] - The company aims to diversify its revenue sources and enhance current business performance, particularly through the air filtration and hardwood furniture businesses launched in China[94] - The management believes in the long-term potential of the hardwood furniture business, positioning itself as a supplier of high-quality, sustainable products[92] - The company expects improvements in gross profit margin once new production facilities are installed and operational by the second quarter of 2024[90] Compliance and Governance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and are presented in RMB, with amounts rounded to the nearest thousand[19] - The group has applied new and revised Hong Kong Financial Reporting Standards starting from January 1, 2023, with no significant impact on financial performance or disclosures[25] - The audit committee has reviewed the financial reporting and risk management practices for the year ending December 31, 2023[121] - The company has complied with the corporate governance code throughout the year[119] Market Outlook - The company remains optimistic about future performance despite challenges from slow economic recovery and conservative consumer behavior in China[89] - The company anticipates stable growth in the Singapore real estate market despite potential inflation and rising mortgage rates[91] Employee and Operational Costs - The total employee benefits expenditure for the fiscal year ending December 31, 2023, was approximately RMB 51,425,000, down from RMB 55,896,000 in the previous year[106] - Total sales costs for the year were approximately RMB 329,016,000, an increase of about RMB 1,685,000 or 0.5% compared to RMB 327,331,000 in 2022[79] - The depreciation expense for property, plant, and equipment was RMB 5,114,000 for the fiscal year 2023[36] Dividends - The company did not propose or declare any dividends for the year, consistent with the previous year[59] - No final dividend has been proposed for the year, consistent with 2022[112]

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 183,909,000, a decrease of 4.3% compared to RMB 192,458,000 for the same period in 2022[7]. - Gross profit for the same period was RMB 8,582,000, down 71.5% from RMB 30,275,000 year-on-year[7]. - The company reported a loss before tax of RMB 29,125,000, compared to a loss of RMB 20,395,000 in the previous year, indicating a 43.0% increase in losses[7]. - The net loss attributable to owners of the company for the period was RMB 23,362,000, compared to RMB 21,192,000 in the prior year, reflecting a 10.3% increase in losses[7]. - The company's total comprehensive loss for the six months ended June 30, 2023, was RMB 38,556,000, compared to RMB 34,337,000 for the same period in 2022, reflecting a worsening financial performance[22]. - The segment loss for the packaging products and components division was RMB 20,944 thousand for the first half of 2023, compared to a profit of RMB 2,447 thousand in the same period of 2022[30]. - The group recorded revenue of approximately RMB 183,909,000 for the six months ended June 30, 2023, a decrease of about RMB 8,549,000 or 4.4% from RMB 192,458,000 for the same period in 2022[68]. - The loss attributable to owners of the company for the six months ended June 30, 2023, was approximately RMB 23,362,000, an increase of about RMB 2,170,000 compared to a loss of RMB 21,192,000 for the same period in 2022[68]. Assets and Liabilities - Total assets as of June 30, 2023, were RMB 360,930,000, compared to RMB 349,039,000 as of December 31, 2022, showing a growth of 3.4%[12]. - The company’s total liabilities increased to RMB 530,206,000 from RMB 494,364,000, marking a 7.2% increase[14]. - The company’s total liabilities exceeded its total assets by RMB 169,776,000 as of June 30, 2023, highlighting a critical financial situation[22]. - The company has a current liability exceeding current assets by RMB 94,555,000 as of June 30, 2023, indicating liquidity challenges[22]. - Accounts receivable from sales of packaging products and structural components amounted to RMB 114,095,000 as of June 30, 2023, down from RMB 121,806,000 as of December 31, 2022, indicating a decrease of approximately 6.0%[41]. - Total accounts receivable, net of impairment, was RMB 155,081,000 as of June 30, 2023, compared to RMB 189,764,000 as of December 31, 2022, reflecting a decrease of about 18.3%[41]. - The company's accounts payable as of June 30, 2023, was RMB 52,702,000, a slight decrease from RMB 55,741,000 as of December 31, 2022[43]. Cash Flow and Financing - The net cash flow used in operating activities for the six months ended June 30, 2023, was RMB (25,218,000), compared to RMB (4,429,000) for the same period in 2022, indicating a significant increase in cash outflow[19]. - The company reported a net cash and cash equivalents balance of RMB 30,570,000 as of June 30, 2023, down from RMB 38,848,000 at the beginning of the period[19]. - The company’s financing activities generated a net cash inflow of RMB 35,643,000 for the six months ended June 30, 2023, compared to a cash outflow of RMB (7,938,000) in the same period of 2022[19]. - The company has utilized approximately HKD 44,500,000 from its placement and public offering for various purposes, including HKD 2,700,000 for repaying bank loans and HKD 29,000,000 for purchasing and upgrading facilities and machinery[85]. - Approximately HKD 50,000,000 was raised from rights issue and placement, with about HKD 49,340,000 already used to repay outstanding borrowings[86]. Strategic Initiatives - The company is focusing on expanding its market presence and enhancing product offerings to drive future growth[7]. - The company plans to sell investment properties in Singapore with an estimated proceeds of RMB 62,000,000 to improve liquidity[26]. - The company received a letter of continued financial support from major shareholders, which is crucial for its ongoing operations[26]. - The company has entered into a joint venture agreement to establish a company in China specializing in the design, manufacture, sale, and marketing of rosewood furniture[51]. - The company is prepared to launch its rosewood furniture business in China in July 2023, expecting positive long-term returns[67]. Governance and Compliance - The company has fully complied with the corporate governance code during the six months ended June 30, 2023[93]. - The group has applied new Hong Kong Financial Reporting Standards effective from January 1, 2023, with no significant impact on the financial position or performance for the current or prior periods[28]. - The company has no foreign currency hedging policy but will consider hedging against significant foreign currency risks as needed[77]. Shareholder Information - Major shareholders owning 5% or more of the issued share capital include Mr. Tsang Man Yau with 9.92% and Grand Luxe Limited with 7.43%[81]. - The company did not declare or recommend any dividends for the period, consistent with the previous year[37]. - No interim dividend was declared for the six months ended June 30, 2023, compared to no dividend for the same period in 2022[90]. - The company has not conducted any significant acquisitions, disposals, or investments during the six months ended June 30, 2023[88].

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，並明確表示概不就因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致之任何損失承擔任何責任。 TEAMWAY INTERNATIONAL GROUP HOLDINGS LIMITED （於開曼群島註冊成立之有限公司） （股份代號：01239） 截至二零二三年六月三十日止六個月之中期業績公告 Teamway International Group Holdings Limited（「本公司」）董事（「董事」）會（「董事 會」）宣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（「期內」）之未經審核簡明綜合業績，連同二零二二年同期之比較數字。 中期業績已由本公司之審核委員會（「審核委員會」）審閱。 ...

Revenue and Sales Performance - For the year ended December 31, 2022, the total revenue from packaging products and components was approximately RMB 384.37 million, a slight increase from RMB 376.70 million in 2021[10]. - The major contributors to revenue were air conditioning products, televisions, washing machines, and refrigerators, accounting for approximately RMB 329.48 million or 85.7% of total segment revenue[10]. - The revenue from air conditioning packaging products was RMB 94.34 million, representing 24.5% of total revenue, an increase from RMB 69.75 million or 18.5% in 2021[10]. - The revenue from television packaging products was RMB 88.90 million, accounting for 23.1% of total revenue, down from RMB 101.73 million or 27.0% in 2021[10]. - For the year ended December 31, 2022, the company recorded revenue of approximately RMB 385,163,000, an increase of 2.1% compared to RMB 377,405,000 for the year ended December 31, 2021[26]. - Total revenue for the year 2022 was RMB 385,163,000, an increase from RMB 377,405,000 in 2021, representing a growth of approximately 2%[193]. Financial Performance - The cost of sales for the year was approximately RMB 327.33 million, an increase of about RMB 2.88 million or 0.9% compared to RMB 324.45 million in 2021[12]. - The gross profit margin increased to approximately 14.8% for the year ended December 31, 2022, compared to 13.9% in 2021, primarily due to reduced depreciation of properties, plants, and equipment[13]. - The company reported a loss attributable to owners of approximately RMB 49,601,000 for the year ended December 31, 2022, compared to a loss of RMB 43,394,000 for the previous year[26]. - The basic and diluted loss per share for 2022 was RMB 7.53, compared to RMB 6.59 in 2021, indicating a worsening of the loss per share by approximately 14%[193]. - The company reported a total comprehensive loss of RMB 68,388,000 for the year ended December 31, 2022, compared to a loss of RMB 37,005,000 in 2021[198]. - The company incurred finance costs of RMB 39,387,000 in 2022, up from RMB 36,274,000 in 2021, marking an increase of about 6%[193]. - The company recognized a net impairment loss on trade receivables of RMB 450,000 in 2022, compared to a reversal of RMB 944,000 in 2021[193]. Assets and Liabilities - As of December 31, 2022, the company's bank balance and cash amounted to approximately RMB 33,265,000, with about 48.7% denominated in Hong Kong dollars[28]. - Current liabilities rose significantly to RMB 328,985,000 in 2022, up from RMB 273,041,000 in 2021, an increase of 20.5%[197]. - Net liabilities increased to RMB 145,325,000 in 2022 compared to RMB 76,937,000 in 2021, reflecting a rise of 89.1%[197]. - The carrying amount of accounts receivable (net of impairment) as of December 31, 2022, was RMB 120,284,000, representing about 35% of the group's total assets[178]. - The accumulated impairment provision for accounts receivable as of December 31, 2022, was RMB 1,522,000[178]. Operational Efficiency and Strategy - The group has a total production capacity of 18,400 tons of packaging products and components, sufficient to respond quickly to market demand[16]. - The company plans to continue enhancing operational efficiency and exploring new customer acquisition despite challenges from the COVID-19 pandemic[21]. - The company aims to explore new opportunities in the healthcare sector to expand revenue sources and strengthen relationships with existing customers[23]. - The company plans to focus on expanding its market presence and enhancing product development strategies in the upcoming fiscal year[199]. Corporate Governance and Management - The company has adopted the corporate governance code and has complied with applicable code provisions throughout the year ended December 31, 2022[45]. - The board held five meetings during the year ended December 31, 2022, with attendance rates of 100% for executive directors and 80% for independent non-executive directors[57]. - The management team possesses extensive industry experience and implements strict selection procedures and multiple incentive mechanisms to enhance employee efficiency[36]. - The company emphasizes the importance of board diversity, considering factors such as gender, age, and experience in its appointments[70]. - The company has established a continuous professional development program for all directors to enhance their knowledge and skills[59]. Risks and Challenges - The company faces various risks including market risk, operational risk, and liquidity risk, which could impact financial performance and business outlook[112][113][117]. - There are significant uncertainties regarding the company's ability to continue as a going concern due to the recorded losses and liabilities[175]. - The company continues to monitor foreign exchange risks due to its assets and liabilities denominated in multiple currencies[116]. Employee and Stakeholder Relations - As of December 31, 2022, the group had 598 employees, an increase from 590 employees in 2021, with total employee benefits expenses approximately RMB 55,896,000, slightly down from RMB 56,018,000 in 2021[36]. - The company has maintained good relationships with key stakeholders, with no significant disputes reported during the fiscal year[124]. - The company has implemented an employee reward system to motivate and retain talent, which includes bonus sharing arrangements[143].

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之任何損失承擔任何責任。 TEAMWAY INTERNATIONAL GROUP HOLDINGS LIMITED （於開曼群島註冊成立之有限公司） （股份代號：01239） 截至二零二二年十二月三十一日止年度全年業績公告 Teamway International Group Holdings Limited（「本 公 司」）董 事（「董 事」）會（「董 事會」）謹此宣佈本公司及其附屬公司（統稱「本集團」）截至二零二二年十二月 三十一日止年度之全年業績，連同截至二零二一年十二月三十一日止年度之 比較數據。全年業績已由本公司之審核委員會（「審核委員會」）審閱。 ...