Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 1,022 thousand, a decrease of 80.6% compared to RMB 5,267 thousand for the same period in 2023[3] - Gross profit for the same period was RMB 197 thousand, up from RMB 40 thousand, resulting in a gross margin of 19.3% compared to 0.8% in 2023[3] - The net loss attributable to the parent company was RMB 5,058 thousand, significantly improved from a net loss of RMB 27,156 thousand in the prior year[3] - Other income and gains increased to RMB 24,971 thousand from RMB 12,324 thousand, indicating a growth of 102.1%[3] - The company reported a basic and diluted loss per share of RMB 0.09 for the period, compared to RMB 0.81 in the same period last year[3] - The group reported a pre-tax loss from continuing operations of RMB 5,058,000 for the six months ended June 30, 2024, compared to a loss of RMB 27,156,000 in the same period of 2023[21] - The company reported a net loss attributable to ordinary shareholders of RMB 5,058,000 for the six months ended June 30, 2024, compared to a loss of RMB 27,156,000 for the same period in 2023[22] - The basic and diluted loss per share for the six months ended June 30, 2024, was RMB (0.09), a significant improvement from RMB (0.81) in the previous year[22] Assets and Liabilities - Total non-current assets as of June 30, 2024, amounted to RMB 1,422,467 thousand, an increase from RMB 1,400,972 thousand as of December 31, 2023[5] - Current liabilities decreased to RMB 1,451,234 thousand from RMB 1,570,105 thousand, reflecting a reduction of 7.6%[6] - The total equity attributable to the parent company increased to RMB 186,948 thousand from RMB 57,293 thousand, showing a significant improvement[7] - Trade receivables at the end of the reporting period amounted to RMB 158,205,000, slightly up from RMB 156,644,000 at the end of 2023[23] - The aging analysis of trade receivables showed that RMB 37,870,000 was due within one year, down from RMB 74,993,000 in the previous year[23] - Contract assets as of June 30, 2024, were RMB 1,102,107,000, compared to RMB 1,086,057,000 at the end of 2023, indicating stability in contract asset balances[25] - Trade payables at the end of the reporting period were RMB 598,721,000, a decrease from RMB 615,968,000 at the end of 2023[27] - As of June 30, 2024, the total outstanding bank and other borrowings amounted to RMB 558.825 million, a decrease from RMB 595.477 million as of December 31, 2023[35] Revenue Breakdown - Customer contract revenue for the six months ended June 30, 2024, was RMB 1,022,000, a decrease of 81.6% compared to RMB 5,267,000 for the same period in 2023[11] - Construction contract revenue contributed RMB 860,000, down from RMB 5,227,000 in the previous year, reflecting a decline of 84.5%[13] - Total other income for the six months ended June 30, 2024, was RMB 24,971,000, an increase of 102.5% from RMB 12,324,000 in the same period of 2023[14] Costs and Expenses - Financial costs for the six months ended June 30, 2024, totaled RMB 15,187,000, a decrease of 26.5% compared to RMB 20,663,000 in the previous year[16] - Interest income from bank loans and other borrowings increased to RMB 7,982,000 for the six months ended June 30, 2024, compared to RMB 7,172,000 in the previous year[16] Corporate Governance and Compliance - The company is committed to enhancing its corporate governance practices to protect shareholder interests and improve corporate value and transparency[38] - The company has established an audit committee to review its accounting principles and policies, ensuring compliance with applicable accounting standards[40] - The company has maintained compliance with the corporate governance code and has not engaged in any share buybacks during the reporting period[37] Strategic Focus and Development - The company is focusing on ecological construction and environmental restoration, aligning with national policies aimed at increasing forest coverage and improving ecological quality by 2025[28] - The company has implemented a refined project cost control model, utilizing a unified supplier database and a self-developed project management information platform[30] - Five investment projects under the PPP model have entered the operational phase, while others are in construction or preparation stages[29] - The company plans to leverage its existing infrastructure project experience and technical accumulation to explore opportunities in the ecological technology sector, transitioning from traditional forestry business[34] - The government emphasizes the importance of green economy and sustainable development, which aligns with the company's focus on ecological construction and sustainable business practices[33] - The company aims to achieve a transformation towards ecological technology, which is expected to provide diversified growth momentum for its business[34] Dividends - The company did not declare any interim dividend for the period ended June 30, 2024, consistent with the previous year[20] - The company has not proposed any interim dividend for the reporting period, consistent with the previous period[41]

Financial Performance - For the year ended December 31, 2023, the total revenue was approximately RMB 26.9 million, a decrease of 75% compared to RMB 109.3 million in 2022[10]. - The gross profit for the same period was approximately RMB 12.4 million, down 51% from RMB 25.4 million in 2022, resulting in a gross margin of 46%[10][18]. - The loss attributable to equity holders of the parent company was approximately RMB 535.9 million, an increase of 27% from RMB 422.8 million in 2022[10][18]. - Total assets decreased by 28% to RMB 2,126.0 million from RMB 2,939.2 million in 2022[10]. - The total equity attributable to equity holders of the parent company fell by 90% to RMB 57.3 million from RMB 563.1 million in 2022[10]. - The company maintained a debt-to-asset ratio of 96.5%, up from 74.4% in 2022, indicating increased financial leverage[10]. - The total revenue achieved by the company for the year ended December 31, 2023, was RMB 26.9 million, with a net loss attributable to shareholders of RMB 535.9 million; the gross profit margin increased by 22.8 percentage points to 46.0% compared to the same period last year[35]. Strategic Initiatives - The company plans to strengthen partnerships with government departments and state-owned enterprises to enhance its reputation and service quality[17]. - The group completed a significant equity restructuring, issuing a total of 2,479,273,000 shares to reduce offshore short-term debt and financial costs, transitioning to a state-owned mixed-ownership listed group[19]. - The entry of state capital has enhanced the group's financial stability and market reputation, increasing investor confidence and attracting more business opportunities[20]. - The new major shareholder, Greenland Group, provides crucial support in management, business expansion, and market strategy, facilitating closer collaboration and resource integration[22]. - The group plans to explore green infrastructure projects and new energy sectors, including photovoltaics, energy storage, and energy management, leveraging existing project experience and the major shareholder's resources[27]. - The strategic shift towards green low-carbon industries aligns with government support and market trends, ensuring long-term development prospects[27]. - The company is committed to optimizing its business structure and enhancing technical capabilities to achieve significant growth in new development areas[30]. Environmental, Social, and Governance (ESG) Efforts - The emphasis on Environmental, Social, and Governance (ESG) will drive the landscaping industry towards ecological protection, resource recycling, and low-carbon development, enhancing sustainability and competitive advantage[23]. - The company is committed to technological innovation and has invested more in establishing a technology center to enhance research and development capabilities, focusing on green technology applications[37]. - The company aims to align with national policies promoting ecological civilization and rural revitalization, which are expected to create new development opportunities in the environmental protection and agriculture sectors[39]. - The company is focused on sustainable development and will actively promote the implementation of ESG principles while continuing to invest in core business areas such as ecological construction and environmental restoration[39]. - The company has established an ESG working group led by the board of directors to identify, assess, prioritize, and manage significant ESG-related issues[147]. - The ESG report is prepared according to the guidelines set by the Hong Kong Stock Exchange to inform stakeholders about the company's ESG policies and performance[144]. - The company aims to collaborate with top domestic and international enterprises to introduce advanced technologies and management experiences to improve core competitiveness[138]. Corporate Governance - The board of directors is committed to maintaining robust corporate governance practices to enhance corporate value and accountability[48]. - The company has adopted the principles of the corporate governance code as a foundation for its governance practices since its listing[48]. - The board consists of five members, including two executive directors and three independent non-executive directors[52]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined responsibilities[64]. - The company has received annual written confirmations of independence from all independent non-executive directors[56]. - The company emphasizes high ethical standards in business operations to achieve long-term goals and maximize shareholder returns[45]. - The company has established a disclosure policy to guide handling of confidential information and regulatory disclosures[89]. Risk Management - The company has established a risk management and internal control system aimed at managing risks associated with achieving business objectives, providing reasonable assurance against material misstatements or losses[102]. - The company’s risk management framework includes identifying potential risks, assessing their impact, and implementing controls to mitigate them, ensuring effective resource use and compliance with regulations[107]. - The board is responsible for evaluating the nature and extent of risks the company is willing to take to achieve its strategic objectives[102]. - The company emphasizes long-term risk assessment and management, focusing on various risk parameters to ensure sustainable growth[106]. Environmental Impact - Air emissions of nitrogen oxides (NOx) decreased from 93.13 kg in 2022 to 46.63 kg in 2023, representing a reduction of approximately 50%[164]. - Sulfur oxides (SOx) emissions from owned vehicles decreased from 0.12 kg in 2022 to 0.06 kg in 2023, a reduction of 50%[164]. - Particulate matter (PM) emissions decreased from 8.92 kg in 2022 to 4.55 kg in 2023, a reduction of approximately 49%[164]. - Total greenhouse gas emissions decreased by approximately 49.37% from 220.89 tons CO2 equivalent in 2022 to 111.83 tons CO2 equivalent in 2023[166]. - The company has not generated any hazardous waste during the reporting period, thus no related targets were set[174]. - The company has maintained high standards in waste management and has established a waste management process to ensure proper classification and recycling[173]. - The average electricity consumption per employee decreased by approximately 33.68% compared to 2022, primarily due to fewer engineering projects[179]. Shareholder Communication - The company emphasizes the importance of regular communication with shareholders to ensure they receive necessary information for informed assessments of the company's strategy, operations, and financial performance[118]. - The company has established multiple channels for ongoing dialogue with shareholders, including company communications, announcements, and the company website[123]. - Shareholders can submit written inquiries to the board of directors, and the company generally does not handle oral or anonymous inquiries[116]. - The company encourages shareholder participation in annual general meetings, where key matters, including the election of individual directors, will be presented as independent resolutions[120].

Financial Performance - For the year ended December 31, 2023, the company reported total revenue of RMB 26,908,000, a decrease of 75.5% from RMB 109,275,000 in 2022[3] - Gross profit for the same period was RMB 12,387,000, down 51.2% from RMB 25,396,000 in the previous year, resulting in a gross margin of 46.0%, up from 23.2%[5] - The net loss attributable to shareholders was RMB 535,918,000, compared to a net loss of RMB 422,794,000 in 2022, representing an increase in loss of 26.8%[5] - The group reported a net loss attributable to the company's owners of RMB 535,918,000 for the year ended December 31, 2023, indicating significant financial challenges[18] - The group reported a pre-tax loss of RMB 516,700,000 for 2023, compared to a loss of RMB 482,776,000 in 2022, indicating an increase in losses year-over-year[46] - Basic loss per share for 2023 was RMB (16.03) compared to RMB (12.65) in 2022, indicating a worsening of per-share losses[50] - The group did not declare any final dividends for the years ended December 31, 2023, and 2022[47] Assets and Liabilities - The company's total assets decreased to RMB 2,176,744,000 from RMB 2,940,093,000, a decline of 26.0% year-over-year[9] - Current liabilities totaled RMB 1,570,105,000, down from RMB 1,969,958,000, indicating a reduction of 20.2%[10] - The total equity attributable to shareholders decreased to RMB 57,293,000 from RMB 563,118,000, a decline of 89.8%[10] - As of December 31, 2023, the group's net current liabilities amounted to RMB 845,039,000, raising substantial doubts about its ability to continue as a going concern[18] - Trade receivables decreased to RMB 526,752,000 in 2023 from RMB 620,358,000 in 2022, with a notable increase in impairment provisions[50] - The group's total liabilities increased, with bank loans and other borrowings interest rising to RMB 35,646,000 in 2023 from RMB 31,031,000 in 2022[41] Income and Gains - Other income and gains increased significantly to RMB 73,678,000 from RMB 22,569,000, marking a growth of 226.5%[5] - The group reported other income totaling RMB 57,879,000 in 2023, up from RMB 22,070,000 in 2022, marking an increase of approximately 162.5%[36] - The total amount of other income and profit for 2023 was RMB 73,678,000, significantly higher than RMB 22,569,000 in 2022, representing an increase of approximately 226.5%[36] Operational Changes and Strategies - The new management is reviewing operational conditions and taking actions to strengthen cost control while actively seeking new investment and business opportunities[22] - The group has taken measures to accelerate the collection of outstanding trade and other receivables[22] - The group is currently assessing its debt structure and exploring financing opportunities to improve its financial situation[22] - The group has implemented a refined project cost control model, establishing a unified supplier database and utilizing a self-developed project management information platform to ensure all project expenditures strictly adhere to budget management[68] Future Outlook and Investments - The board has reviewed cash flow forecasts covering a twelve-month period from December 31, 2023, and believes the group will have sufficient working capital to meet its operational and financial obligations[20] - The company has five investment projects under the PPP model that have entered the operational phase as of December 31, 2023[66] - The group plans to leverage existing infrastructure project experience and technology to explore opportunities in ecological technology, transitioning from traditional landscaping to ecological technology[74] - The group is focused on sustainable development and will actively promote ESG principles while investing in ecological construction and environmental restoration[71] Governance and Compliance - The group has established an audit committee to review the annual performance, ensuring compliance with applicable accounting standards and regulations[80] - The group has maintained high corporate governance standards, ensuring transparency and accountability to enhance shareholder value[77] Shareholder Information - Following the issuance of 1,979,000,000 ordinary shares at HKD 0.1 each, the total number of issued shares increased to 5,821,809,957, with Greenland Financial holding 51.02% of the issued shares[86][87] - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2023[85]

據中國國家統計局的統計，2023年上半年，中國國內生產總值(GDP)同比增長了5.5%，其中第二季GDP較去年同 期增長6.3%，按季增長值0.1%。2023年來，國家出台多項政策，推動基礎設施投資建設提速。根據國家統計局數 據顯示，2023年上半年，中國固定資產投資（不含農戶）達人民幣243,113億元，同比增長3.8%；計劃總投資億元 及以上項目投資同比增長10.9%，增速比前5個月快0.2個百分點，比全部投資增速高7.1個百分點；同時亦對全部 投資增長的貢獻率比前5個月提高10個百分點。而從近期各地發佈的情況看，重大項目加快建設，為擴內需、穩 增長、惠民生提供了有力支撐。 截至2023年6月30日，本集團實現總收益約人民幣5,267千元，期內經營利潤約人民幣40千元，母公司擁有人應佔 純利虧損約人民幣27百萬元，毛利率為0.8%及純利率虧損為515.6%。在收入承壓的大環境下，本集團成功實現 增效降本主要因為本集團採取了穩健的發展策略，並實施了多項措施以穩定現金流並推動高品質發展。 美麗中國建設及雙碳目標繼續引領行業前行 | --- | --- | |-------------------------- ...

Financial Performance - Revenue for the year ended December 31, 2022, was RMB 109,275 thousand, a decrease of 59% compared to RMB 267,498 thousand in 2021[14] - Gross profit for the same period was RMB 25,396 thousand, down 68% from RMB 80,259 thousand in 2021[14] - The company reported a loss before tax of RMB 482,776 thousand, compared to a profit of RMB 11,716 thousand in 2021, representing a decline of 4,221%[14] - Net loss attributable to equity holders of the parent was RMB 422,794 thousand, a significant drop from a profit of RMB 4,542 thousand in the previous year[14] - Total assets as of December 31, 2022, were RMB 2,939,193 thousand, down from RMB 3,358,341 thousand in 2021, a decrease of RMB 419,148 thousand[14] - Total equity attributable to equity holders of the parent decreased to RMB 563,118 thousand from RMB 1,016,282 thousand in 2021, a decline of RMB 453,164 thousand[14] - The company's gross margin for 2022 was 23.2%, down from 30.0% in 2021[16] - The total revenue for the group reached approximately RMB 109.3 million, with an operating profit of about RMB 25.4 million, and a net loss attributable to the parent company of approximately RMB 422.8 million, resulting in a gross margin of 23.2% and a net loss margin of 386.9%[23] - The group achieved total revenue of RMB 1,093 million in 2022, with a net loss attributable to shareholders of RMB 422.8 million, and a gross margin of 23.2%, down 6.8 percentage points year-on-year[41] Liquidity and Leverage - The current ratio decreased to 0.8 in 2022 from 1.0 in 2021, indicating a decline in liquidity[16] - The debt-to-asset ratio increased to 74.4% in 2022 from 60.5% in 2021, reflecting higher leverage[16] - The company's debt-to-asset ratio increased to 74% as of December 31, 2022, compared to 61% in 2021[173] Strategic Focus and Initiatives - The company is focusing on restructuring and strategic initiatives to improve financial performance in the upcoming fiscal year[18] - The group has maintained a focus on managing project compliance and cash flow stability, while actively managing construction progress and marketing expenses to adapt to the challenging revenue environment[23][29] - The group plans to enhance its capabilities in green technology and innovation, investing more in establishing a technology center and developing proprietary technologies and products[31] - The group aims to align with China's "30-60 goals" and urbanization efforts, promoting energy-saving, ecological, and functional development in urban landscaping[33] - The group will continue to focus on cash flow management and risk control in project investments to ensure operational stability and sustainability[29] - The group is committed to optimizing project management and enhancing its capabilities to undertake larger projects, thereby improving profit margins and return on net assets[45] - The group will continue to adopt a dual approach of PPP and general contracting to improve project precision and operational efficiency[52] Market and Economic Environment - The GDP of China grew by 3.0% to RMB 121 trillion in 2022, showcasing strong performance among major economies despite facing pressures from demand contraction, supply shocks, and weakened expectations[22] - The landscape industry is expected to maintain healthy growth in the coming years, driven by increasing market demand for environmental quality and ecological construction[33] - The market demand for landscaping projects is expected to approach RMB 1.1 trillion by 2025, driven by government investments in urban greening projects[37] - The company faces significant risks due to potential economic slowdown in China, which may decrease demand for its landscaping design and construction services[182] Corporate Governance - The board is committed to maintaining effective corporate governance practices to ensure sustainable returns for shareholders and manage overall business risks[54] - The board consists of seven members, including four executive directors and three independent non-executive directors, ensuring a balanced governance structure[62] - The company has adopted the principles and code provisions of the corporate governance code as the foundation of its governance practices since its listing[57] - The company has received annual written confirmations of independence from all independent non-executive directors, affirming their independence throughout the reporting period[67] - The board retains ultimate decision-making authority on significant matters, including policy, strategy, budget, and major transactions[71] - The company believes that having the same individual serve as both chairman and CEO ensures consistent leadership and effective strategic planning[65] - The board is responsible for leading and controlling the company, ensuring high standards of compliance reporting and independent judgment in corporate actions[75] Employee and Diversity Policies - Employee costs for the reporting period amounted to approximately RMB 8.0 million, with 102 full-time employees in China as of December 31, 2022[189] - The overall employee gender ratio is 67% male and 33% female, with 48% of other employees being male[94] - The company emphasizes gender diversity at all levels, with the nomination committee reviewing the diversity policy annually to ensure its effectiveness[94] - The board believes it has achieved the goals set by the diversity policy[100] Risk Management and Compliance - The company has conducted annual self-assessments to ensure compliance with control policies across all departments[131] - The board of directors is responsible for the risk management and internal control systems, which aim to manage risks rather than eliminate them[133] - The company has complied with all relevant laws and regulations in China and Hong Kong during the reporting period[188] Stock Options and Financial Instruments - The company has a total of 39,482,142 stock options available for issuance under the stock option plan, representing 1.18% of the company's issued share capital[139] - During the reporting period, 1,473,643 stock options were cancelled or forfeited[145] - The company issued and sold redeemable fixed interest notes with a principal amount of $40,000,000, equivalent to approximately RMB 258.4 million, at an annual interest rate of 9.00%[150] - The stock option plan will remain effective for a period not exceeding ten years from June 25, 2014, with approximately one year remaining as of December 31, 2022[144] - The maximum number of stock options granted to each eligible person in any 12-month period cannot exceed 1% of the total issued shares[168] Audit and Financial Reporting - The audit committee reviewed the annual performance and annual report for the year ending December 31, 2021, and the interim financial performance for the six months ending June 30, 2022[82] - The audit committee, along with management and external auditors, reviewed the accounting principles and policies adopted by the company during the reporting period[197] - The company plans to present a resolution to reappoint Ernst & Young as its auditor at the upcoming annual general meeting[198] - The consolidated financial statements reflect a true and fair view of the group's financial position as of December 31, 2022[200] - The financial performance and cash flows for the year ended on December 31, 2022, have been properly prepared according to the Hong Kong Financial Reporting Standards[200]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 China Greenland Broad Greenstate Group Company Limited 中 國 綠 地 博 大 綠 澤 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1253） 截至2022年12月31日止年度 年度業績公告 及恢復股份買賣 財務摘要 截至12月31日止年度 2022年 2021年 變動 經審核 經審核 收益 人民幣千元 109,275 267,498 (158,223) 毛利 人民幣千元 25,396 80,259 (54,863) 母公司擁有人 應佔純利 人民幣千元 (422,794) 4,542 (427,336) 毛利率 % 23.2 30.0 (6.8) ...

Financial Performance - For the six months ended June 30, 2022, the total revenue was approximately RMB 95.2 million, a decrease of 50.7% compared to RMB 193.3 million in the same period of 2021[10]. - The gross profit for the same period was approximately RMB 29.9 million, down 48.8% from RMB 58.5 million year-on-year[10]. - The net profit attributable to shareholders was approximately RMB 0.4 million, a significant decline of 97% from RMB 15.3 million in the previous year[10]. - The gross margin improved slightly to 31.4% from 30.3% in the previous year, while the net margin dropped to 0.4% from 7.9%[11]. - The operating profit for the period was approximately RMB 29.9 million, reflecting proactive management of project commencement and construction progress[16]. - The company reported a decrease in pre-tax profit to RMB 1.2 million, down 94% from RMB 18.3 million in the previous year[10]. - The group achieved total revenue of RMB 952 million, with a net profit attributable to the parent company of RMB 4 million, and a gross margin of 31.4%, an increase of 1.2 percentage points compared to the same period last year[37]. - The group reported total revenue of RMB 95,240,000 for the six months ended June 30, 2022, compared to RMB 193,289,000 for the same period in 2021, indicating a significant decrease of 50.7%[170]. - Revenue from construction contracts was RMB 89,581,000, down from RMB 190,761,000 in the previous year, reflecting a decline of 53.0%[170]. - The total comprehensive income for the period ended June 30, 2022, was RMB (25,292,000), compared to RMB 21,837,000 for the same period in 2021[136]. Assets and Liabilities - Total assets as of June 30, 2022, were RMB 3,404.5 million, an increase of 1.4% from RMB 3,358.3 million at the end of 2021[11]. - Current liabilities increased to RMB 2,147,344 thousand from RMB 1,995,379 thousand, reflecting a rise of 7.6%[129]. - Non-current liabilities decreased to RMB 238,407 thousand from RMB 318,892 thousand, a reduction of 25.2%[131]. - The equity attributable to the owners of the parent company was RMB 990,807 thousand, down from RMB 1,016,282 thousand[131]. - The total liabilities decreased from RMB 1,016,282,000 as of January 1, 2022, to RMB 990,807,000 as of June 30, 2022[135]. Cash Flow and Financial Position - The net cash flow from operating activities for the six months ended June 30, 2022, was RMB 30,940,000, a significant improvement compared to a negative cash flow of RMB (116,563,000) in the same period of 2021[139]. - The company's cash and cash equivalents decreased to RMB 57,189 thousand from RMB 77,465 thousand, a decline of 26.1%[129]. - The company’s cash and cash equivalents in Hong Kong dollars were reported at RMB 5,000, a decrease from RMB 12,000 in 2021[59]. - The company has provided guarantees to banks for financing amounts of RMB 683,150,000 for joint ventures, a decrease from RMB 712,950,000 in 2021[63]. - The company’s financial guarantee contracts are classified as Stage 1 credit risk, indicating no transfer of risk between stages during the period[65]. Project Management and Operations - The company maintained a cautious approach towards new projects, focusing on compliance and the financial strength of local governments to assess project feasibility[15]. - The company implemented measures to tighten marketing expenses and reduce operating costs to stabilize operations amid revenue pressure[16]. - The group is focusing on optimizing project management and enhancing operational efficiency in response to economic instability caused by the pandemic[37]. - The group has established a unified supplier database and developed a project management information platform to ensure strict budget adherence in project expenditures[40]. - The group will continue to adopt a PPP model alongside general contracting to enhance project precision and accelerate value conversion[44]. Market and Strategic Focus - The company aims to strengthen its cash flow and improve project management to prepare for long-term growth opportunities in urban greening under the "14th Five-Year Plan"[23]. - The company has expanded its market coverage to 15 provinces across China, enhancing its project functions in line with the "dual carbon" goals[26]. - The government plans to significantly enhance urban ecological infrastructure by 2025, with an expected market demand for landscaping projects nearing RMB 1.1 trillion[32]. - The company anticipates broader business opportunities in the green landscaping industry driven by the demand for ecological space planning and refined urban management[27]. - The group has identified significant opportunities in the "14th Five-Year Plan" for green circular economy development, positioning itself for the next decade of growth[43]. Research and Development - The company plans to invest more in establishing technology centers and enhancing core R&D capabilities, particularly for technologies with independent intellectual property rights[24]. - The group aims to enhance its core technology in ecological construction to improve its industry position and risk resistance, enabling it to undertake larger projects and increase profit margins[43]. - The company has invested in establishing a technology center to strengthen R&D capabilities and promote the commercialization of technology in ecological and environmental projects[41]. Corporate Governance and Shareholding - The company has established a remuneration committee to set formal and transparent procedures for the remuneration policies of directors and senior management[112]. - The company believes that maintaining a high level of corporate governance is essential for effective management and business growth[107]. - Major shareholders include 博大國際 with a 29.65% stake, holding 991,321,041 shares[79]. - The company has a significant shareholding structure, with Mr. Wu Zhengping and Ms. Xiao Li holding 29.65% of the issued share capital each, totaling 991,321,041 shares[75]. Employee and Talent Management - As of June 30, 2022, the group employed 146 full-time employees, a decrease from 180 employees as of December 31, 2021[112]. - Employee costs for the reporting period amounted to approximately RMB 45.9 million, compared to RMB 81.6 million for the six months ended June 30, 2021[112]. - The stock option plan aims to attract and retain top talent by providing additional incentives to employees, directors, consultants, and advisors[85].

Financial Performance - For the year ended December 31, 2021, the company reported revenue of RMB 267,498 thousand, a decrease of 60.4% from RMB 676,161 thousand in 2020[13] - Gross profit for the same period was RMB 80,259 thousand, down 57.9% from RMB 190,611 thousand in 2020[13] - The company's profit before tax fell by 87.5% to RMB 11,716 thousand from RMB 94,046 thousand in 2020[13] - Net profit attributable to equity holders of the parent was RMB 4,542 thousand, a significant decline of 94.2% compared to RMB 78,295 thousand in the previous year[13] - Total assets as of December 31, 2021, were RMB 3,358,341 thousand, a decrease of 2.7% from RMB 3,452,771 thousand in 2020[13] - The company's equity attributable to equity holders increased slightly by 2.0% to RMB 1,016,282 thousand from RMB 995,931 thousand in 2020[13] - The gross margin improved to 30.0% in 2021 from 28.2% in 2020[13] - The net profit margin decreased to 1.7% in 2021 from 11.6% in 2020[13] - The total revenue achieved by the company during the reporting period was RMB 267.5 million, with a net profit attributable to the parent company of RMB 4.5 million; the gross profit margin increased by 1.8 percentage points to 30.0%[36] Operational Strategy - The group adopted a prudent approach by slowing down project commencement and construction progress to strengthen cash flow, which led to a decline in performance[21] - The group emphasizes maintaining a stable cash flow, appropriate scale, and reasonable profit margins as part of its operational strategy[26] - The company is actively optimizing its management model and adjusting its operational strategies to adapt to the economic uncertainties caused by the COVID-19 pandemic[36] - The group plans to transition from PPP projects to Engineering Procurement Construction (EPC) models, including EPC+Finance and EPC+Operation, to optimize asset allocation and ensure sustainable development[48] Market Trends - The overall market for new orders in the landscaping industry remains low, with a decrease in new orders due to the impact of previous PPP project contracts[25] - The Chinese urban landscaping market is projected to grow from RMB 215.8 billion in 2020 to RMB 426.6 billion by 2027, representing a compound annual growth rate (CAGR) of 11.01% from 2021 to 2027[34] - The urban landscape design industry in China is expected to maintain an average growth rate of 7%, with the market size projected to reach RMB 350 billion in 2022[34] Environmental Initiatives - The company plans to accelerate its carbon reduction efforts in line with the "30-60 targets" and continue advocating for energy-saving and environmentally friendly business practices[29] - The company aims to achieve carbon peak and reduction targets by 2030 and 2060, respectively, with a plan to gradually reduce total greenhouse gas emission density over the next five years, using 2021 as the baseline year[181] - The company is committed to gradually reducing air pollutant emissions density over the next five years, using 2021 as the baseline year[176] - The company has implemented enhanced site management to minimize environmental impacts during construction projects[174] - The company focuses on planting a large number of green plants in its horticultural projects, which helps absorb carbon dioxide, although these are not accounted for in the company's greenhouse gas emissions reduction[180] Governance and Compliance - The board consists of seven members, including four executive directors and three independent non-executive directors, ensuring a balanced governance structure[56] - The company has adopted the corporate governance code and has complied with all applicable provisions during the reporting period, except for specific deviations noted in the report[50] - The independent non-executive directors have confirmed their independence throughout the reporting period, contributing to high standards of compliance and governance[60] - The company will regularly review the management structure and consider separating the roles of Chairman and CEO if necessary to maintain effective governance[59] - The board retains final decision-making authority on significant matters, including policies, strategies, budgets, internal controls, risk management, and major transactions[65] Risk Management - The company's risk management and internal control system is based on its "Risk Management Internal Control System" and involves participation from the board, management, and employees[110] - The risk management objectives include identifying potential impacts on the company and providing reasonable assurance for achieving business goals, including effective resource use and compliance with regulations[113] - Management conducts regular internal control assessments to identify risks affecting the group's operations and financial processes, ensuring compliance with control policies[117] - The internal auditor independently reviews the adequacy and effectiveness of the risk management and internal control systems, reporting findings to the audit committee[118] ESG Performance - The ESG report covers the company's management policies and strategies related to environmental, social, and governance (ESG) practices for the year 2021[146] - The company is committed to continuously collecting relevant ESG data to improve the accuracy and comprehensiveness of its ESG data collection system[147] - The company has established an ESG governance framework led by the board, with a dedicated working group responsible for identifying and managing significant ESG issues[153] - Stakeholder engagement includes communication with government, customers, suppliers, employees, and the community to align long-term development directions[160] Emission Reductions - Total greenhouse gas emissions (Scope 1 and 2) decreased from 646.00 tons in 2020 to 406.02 tons in 2021, representing a reduction of approximately 37.2%[182] - Total energy consumption decreased from 1,123,169.00 kWh in 2020 to 617,123.56 kWh in 2021, a reduction of approximately 45%[195] - Total water consumption decreased significantly from 64,212.00 tons in 2020 to 25,902.33 tons in 2021, a reduction of approximately 59.6%[199] - The company has not generated any hazardous waste during the reporting period and has not set related targets[188]

China Greenland Broad Greenstate Group Company Limited | --- | --- | --- | --- | --- | |---------------------|-------------------------------------------------------------|-------|-------|-------| | | China Greenland Broad Greenstate Group Company Limited | | | | | | | | | | | | 中國綠地博大綠澤集團有限公司 | | | | | | | | | | | | (Incorporated in the Cayman Islands with limited liability) | | | | | (Stock code : 1253) | | | | | IN TERIM REPORT 中國綠地博大綠澤集團有限公司 中期報告 2021 China Greenland Broad Greenstate Group Company Limit ...

Financial Performance - Total revenue for 2020 was RMB 676,161,000, a decrease of 28.8% from RMB 949,088,000 in 2019[17] - Gross profit for 2020 was RMB 190,611,000, down 9.8% from RMB 211,291,000 in 2019[17] - Profit before tax increased by 15.8% to RMB 94,046,000 compared to RMB 81,193,000 in 2019[17] - Net profit attributable to shareholders was RMB 78,295,000, representing a 9.7% increase from RMB 71,383,000 in 2019[17] - Total assets as of December 31, 2020, were RMB 3,452,771,000, an increase of 2.6% from RMB 3,364,005,000 in 2019[17] - Total equity attributable to shareholders increased by 12.6% to RMB 995,931,000 from RMB 884,240,000 in 2019[17] - Gross margin improved to 28.2% in 2020 from 22.3% in 2019[18] - Net profit margin increased to 11.6% in 2020 from 7.5% in 2019[18] - The total revenue for the group reached approximately RMB 676.2 million, with a profit of about RMB 190.6 million and a net profit attributable to the parent company of RMB 78.3 million, resulting in a gross margin of 28.2% and a net profit margin of 11.6%[23] Strategic Initiatives - The group has entered a positive cycle of completing old projects, steadily advancing ongoing projects, and preparing for new projects, with overall performance meeting expectations for the year[23] - The group has focused on optimizing management and gradually completing existing projects, with plans to resume continuous order acquisition as the operating environment improves[26] - The group signed a comprehensive strategic cooperation framework agreement with the Jiangsu Dongtai High-tech Zone Management Committee, involving industrial investment and urban construction, aligning with national strategies[27] - The group launched its first "design + construction + operation" full industry chain project, marking a significant milestone in its business transformation[27] - The group aims to enhance operational capabilities and promote high-quality ecological development while adhering to green and low-carbon development principles[29] - The group plans to shift its strategic layout towards a full industry chain approach, focusing on urban renewal and enhancement as a planner, investor, builder, and operator[29] - The group has actively participated in the PPP model to improve public service supply quality and efficiency, contributing to high-quality economic development[28] Technological Advancements - The company has established a technology innovation team to accelerate technological advancements in construction processes, operational models, and management systems[36] - The company has invested significantly in establishing a technology center, focusing on independent development and enhancing cooperation with academic institutions, resulting in a strong competitive advantage in ecological construction technology[44] - The company holds a total of 63 patents, including 3 invention patents and 59 utility model patents, which cover areas such as wastewater treatment and ecological restoration[44] - The company is actively exploring new business models such as EPC+F (Engineering, Procurement, and Construction + Financing) and EPC+O (Engineering, Procurement, and Construction + Operations) to diversify its operations[36] Environmental and Social Governance (ESG) - The ESG report covers the period from January 1, 2020, to December 31, 2020, detailing the company's management policies and strategies related to environmental, social, and governance (ESG) performance[129] - The company is committed to improving its ESG performance by addressing significant ESG issues identified through stakeholder impact assessments[156] - The company adheres to national environmental laws and regulations, including the Environmental Protection Law of the People's Republic of China[159] - The company has implemented measures to reduce environmental impact during construction projects, including the selection of environmentally responsible subcontractors[159] - The company has established a dedicated team for managing dust, noise, and water pollution at construction sites[180] - The company promotes the secondary use of water resources during project construction, including the use of groundwater and river water[175] Corporate Governance - The board of directors is responsible for leading and controlling the company, overseeing business strategies and performance, and ensuring effective internal controls and risk management systems[60] - The audit committee reviewed the annual performance and financial reports for the year ending December 31, 2019, and the interim financial results for the six months ending June 30, 2020[66] - The company conducts regular reviews of its corporate governance policies and practices to ensure compliance with legal and regulatory standards[89] - The board meetings are scheduled with at least 14 days' notice, ensuring all directors are informed of the latest developments[90] - The company emphasizes the importance of board diversity in its recruitment and nomination processes[74] Employee Engagement and Workforce - The company emphasizes a fair and harmonious work environment as a core value, recognizing employees as one of its most important assets[185] - The company has established a competitive compensation and benefits system to enhance employee engagement and transparency in labor rights and salary structures[187] - As of December 31, 2020, the company had 256 employees, a decrease from 364 in 2019, with all employees being full-time and located in China[194] - The gender distribution of employees in 2020 was 70% male (180) and 30% female (76), compared to 69% male (252) and 31% female (112) in 2019[198] - The company has implemented a performance evaluation system to ensure fair and transparent promotion processes, with a dedicated committee overseeing performance assessments[188]