Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 192,458,000, an increase of 14.66% compared to RMB 167,845,000 for the same period in 2021[8]. - Gross profit for the same period was RMB 30,275,000, representing a gross margin of 15.7%[8]. - The net loss attributable to owners of the parent for the six months was RMB 21,192,000, an improvement from a net loss of RMB 26,845,000 in the prior year[8]. - The basic and diluted loss per share improved to RMB 3.22 from RMB 4.08 year-on-year[8]. - The pre-tax loss for the six months ended June 30, 2022, was RMB 20,395,000, an improvement from a loss of RMB 25,605,000 in the same period of 2021, showing a reduction of approximately 20.5%[31]. - The basic loss per share attributable to the owners of the parent for the six months ended June 30, 2022, was RMB (0.032) compared to RMB (0.041) for the same period in 2021, reflecting an improvement in loss per share[46]. - The company did not recommend or declare any dividends for the period, consistent with the previous year[45]. - No interim dividend was declared for the six months ended June 30, 2022, consistent with the previous year[99]. Assets and Liabilities - Total assets as of June 30, 2022, were RMB 334,326,000, compared to RMB 346,916,000 as of December 31, 2021[13]. - Current liabilities increased to RMB 286,459,000 from RMB 273,041,000, resulting in a net current liability of RMB 55,141,000[13]. - As of June 30, 2022, the company's total liabilities exceeded its total assets by RMB 111,274,000, indicating significant financial strain[24]. - The total liabilities increased to RMB 445,600,000 as of June 30, 2022, compared to RMB 423,853,000 at the end of 2021, marking an increase of about 5.1%[37]. - Accounts payable totaled RMB 50,791,000 as of June 30, 2022, down from RMB 57,230,000 as of December 31, 2021[51]. - The company has a loan balance owed to a related party, Yitou (China) Co., Ltd., of RMB 145,205,000 as of June 30, 2022, compared to RMB 138,629,000 as of December 31, 2021[55]. Cash Flow and Liquidity - Cash and bank balances decreased to RMB 38,848,000 from RMB 52,671,000, indicating a liquidity challenge[13]. - Cash flow from operating activities was a net outflow of RMB 4,429,000 for the six months ended June 30, 2022, compared to a net inflow of RMB 6,093,000 in the previous year[21]. - The company experienced a net cash outflow of RMB 16,053,000 in cash and cash equivalents during the six months ended June 30, 2022, compared to an increase of RMB 32,142,000 in the same period of 2021[21]. - The company reported a decrease in cash and cash equivalents to RMB 38,848,000 as of June 30, 2022, down from RMB 55,047,000 at the end of the previous year[21]. - The company is actively seeking additional financing options to enhance its liquidity and has received ongoing financial support from its major shareholders[27]. Operational Performance - The company continues to focus on the design, manufacturing, and sales of packaging products and structural components, as well as property investment in China[32]. - Revenue for the packaging products and components business reached RMB 192,073,000 for the six months ended June 30, 2022, an increase of approximately RMB 24,577,000 or 14.7% compared to RMB 167,496,000 for the same period in 2021[60]. - The segment performance for the sales packaging division showed a profit of RMB 3,524,000, compared to a loss of RMB 1,643,000 in the previous year, indicating a significant improvement[33]. - The gross profit margin improved during the period due to increased selling prices despite high raw material costs[64]. - The company maintains a list of approved suppliers for raw materials, ensuring stable supply and timely delivery[65]. - Current production capacity is sufficient to respond quickly to market demand and strengthen market position[66]. Market and Strategic Outlook - The company anticipates challenges in 2022 due to ongoing increases in raw material costs and plans to implement cost control measures[72]. - The company expects the Singapore real estate market to continue to grow, driven by strong demand exceeding supply[73]. - The company is considering the potential sale of its investment properties in Singapore as part of its strategy to improve financial stability[27]. Shareholder Information - As of June 30, 2022, major shareholders holding 5% or more of the company's issued share capital include Grand Luxe Limited (8.91%), Mr. Chan Hung Wai (8.16%), and Mr. Wu Kin Hang (8.01%) among others[89][90]. - The total number of shares held by major shareholders indicates a concentrated ownership structure, with the top shareholder holding nearly 9% of the total issued shares[89]. - The company has fully complied with the corporate governance code and the standard code for securities transactions during the reporting period[102][101]. - The company has maintained a consistent approach to corporate governance, regularly reviewing its practices to ensure compliance with applicable codes[102].

Financial Performance - The revenue from the packaging products and components business for the year ended December 31, 2021, was approximately RMB 376.7 million, an increase from RMB 361.6 million in 2020[9]. - The company recorded revenue of approximately RMB 377,405,000 for the year ended December 31, 2021, representing a 4.0% increase from RMB 362,833,000 for the year ended December 31, 2020[25]. - The loss attributable to the owners of the company for the year ended December 31, 2021, was approximately RMB 43,394,000, compared to a loss of RMB 38,424,000 for the year ended December 31, 2020[25]. - Revenue for the year ended December 31, 2021, was RMB 377,405,000, an increase of 4.4% from RMB 362,833,000 in 2020[183]. - Gross profit decreased to RMB 52,954,000, down 18.0% from RMB 64,563,000 in the previous year[183]. - The company reported a net loss of RMB 43,394,000 for the year ended December 31, 2021, compared to a net loss of RMB 38,424,000 in the previous year, indicating an increase in losses of approximately 12.5%[189]. Revenue Sources - The major contribution to revenue came from television products, amounting to RMB 101.7 million, representing 27.0% of total segment revenue[10]. - The revenue from washing machine products was RMB 86.0 million, accounting for 22.8% of total segment revenue, up from 19.5% in 2020[9]. - The group reported that sales to the top five customers accounted for approximately 84.3% of total revenue for the year ended December 31, 2021, compared to 81% in 2020, with the largest customer contributing about 43.8%[152]. Cost and Profitability - The cost of sales for the year ended December 31, 2021, was approximately RMB 324.5 million, an increase of about RMB 26.2 million or 8.8% compared to RMB 298.3 million in 2020[11]. - The gross profit margin decreased from approximately 17.5% for the year ended December 31, 2020, to about 13.9% for the year ended December 31, 2021[12]. Assets and Liabilities - As of December 31, 2021, the company had a net current liability of RMB 27,664,000 and a total liability of RMB 76,937,000[165]. - Total assets decreased to RMB 319,914,000 from RMB 429,170,000 in 2020, reflecting a decline of 25.5%[188]. - Current liabilities increased to RMB 273,041,000, up from RMB 197,654,000 in 2020, indicating a rise of 38.1%[188]. - Non-current liabilities decreased to RMB 150,812,000 from RMB 271,448,000, a reduction of 44.4%[188]. Cash Flow and Financing - The company’s cash and bank balances improved to RMB 52,671,000 from RMB 23,881,000, an increase of 104.5%[188]. - Operating cash flow for the year was RMB 13,272,000, a significant increase from RMB 766,000 in 2020, reflecting improved operational efficiency[192]. - The company generated RMB 29,872,000 from the sale of subsidiaries, contributing positively to cash flow from investing activities[194]. - The company’s financing activities resulted in a net cash outflow of RMB 8,439,000, a slight improvement from RMB 9,844,000 in the previous year[194]. Corporate Governance - The company has adopted corporate governance practices in line with the Hong Kong Stock Exchange's guidelines, ensuring compliance and transparency[42]. - The board held four meetings during the year ended December 31, 2021, with full attendance from all directors[54]. - The company emphasizes the importance of board diversity, ensuring a balanced mix of skills and experiences among board members[67][68]. - The company adheres to the corporate governance code, ensuring that all committees operate within their defined scopes[58][71]. Risk Management - The management identified key risks including market risk, business risk, and liquidity risk that could impact financial performance[104]. - The company is facing significant uncertainties regarding its ability to continue as a going concern due to its financial position[165]. - The board presented the audited consolidated financial statements for the year ending December 31, 2021[101]. - The company is committed to maintaining internal controls to ensure the financial statements are free from material misstatement due to fraud or error[173]. Employee and Management - As of December 31, 2021, the group had 590 employees, a decrease from 751 employees in 2020, with total employee benefits expenditure approximately RMB 56,018,000, slightly down from RMB 56,148,000 in 2020[34]. - The employee reward system, including bonus sharing arrangements, was implemented to motivate and retain talent within the group[134]. - The management team possesses extensive industry experience and implements strict selection procedures and performance evaluations for employees[34]. Investment and Future Plans - The company plans to enhance liquidity by listing the investment property for sale, which constitutes a significant portion of its assets[17]. - The company plans to continue focusing on the design, manufacturing, and sales of packaging products and structural components, aiming for market expansion in China[197]. - The company plans to continue exploring new investment opportunities to provide sustainable returns amid ongoing challenges[24].