Hi9미널힐뉴 恒 鼎 實 業 國 際 發 展 有 限 公 司 ( 於開曼群島註冊成立之有限公司) 股份代號: 1393 中期報告 2022 LIUGONG 山 发家 河科技股会 和 目錄 | --- | --- | |------------------------------|-------| | 公司資料 | 2 | | 主席報告 | 4 | | 管理層討論與分析 | 5 | | 其他資料 | 14 | | | | | 簡明綜合損益及其他全面收益表 | 17 | | 簡明綜合財務狀況表 | 18 | | 簡明綜合權益變動表 | 20 | | 簡明綜合現金流量表 | 21 | | | | 簡明綜合財務報表附註 22 公司資料 | --- | --- | |-------------------------------|-------------------------------------------| | 董事 | 授權代表 | | | | | 執行董事 | 鮮揚先生 | | 鮮揚先生（主席） | 朱麗娟女士 | | 孫建坤先生 | 註冊辦事處 | | 莊顯偉先生 | | | | Cricket Sq ...

Financial Performance - The company's revenue for the year ended December 31, 2021, was approximately RMB 2,839.7 million, an increase of about 110.6% compared to RMB 1,348.6 million in 2020[10] - Adjusted EBITDA for the same period was approximately RMB 999.5 million, up about 65.1% from RMB 605.5 million in the previous year[10] - The gross profit for the year was approximately RMB 1,330 million, up about 114.5% from RMB 620 million in 2020[11] - The gross profit margin improved to approximately 46.8% in 2021, compared to 46.0% in the previous year[11] - Annual profit was approximately RMB 644.4 million, an increase of about RMB 914.0 million or 339.0% compared to a loss of RMB 296.6 million in 2020[56] - The company recorded an EBITDA of approximately RMB 999.5 million for the year[38] - The total production cost for the year was approximately RMB 1,510.1 million, an increase of about RMB 781.5 million or 107.3% from RMB 728.6 million in 2020[42] - Other income for the year was approximately RMB 26.4 million, an increase of about RMB 11.1 million or 72.5% compared to RMB 15.3 million in 2020, primarily due to government subsidies[48] Production and Operations - Raw coal production increased from approximately 3,485,000 tons in 2020 to about 4,078,000 tons in 2021, representing a growth of approximately 17.0%[10] - The average production cost of raw coal per ton rose to approximately RMB 322, an increase of about 25.8% from RMB 256 per ton in 2020[10] - The total coal production in Guizhou Province for 2021 was approximately 4,078,000 tons, exceeding the estimated budgeted production of 3,800,000 tons by 107.3%[22] - The company estimates a budgeted production of approximately 5,500,000 tons for 2022[23] - Among the nine integrated coal mines in Guizhou, eight have met the integration requirements and are in production, with a total target production of 8,550,000 tons[22] - The production of the Jiangchuan River coal mine increased by 252.1% to 257 tons, while the production of the Xingda coal mine decreased by 82.0% to 9 tons[22] - In Yunnan Province, the total production for 2021 was approximately 33,000 tons, which is only 16.5% of the estimated budgeted production of 200,000 tons for 2020[29] - The company estimates a budgeted production of approximately 200,000 tons for 2022 in Yunnan Province[30] Costs and Expenses - Distribution expenses for the year amounted to RMB 217.8 million, an increase of approximately RMB 96.0 million or 78.8% compared to RMB 121.8 million in 2020, primarily due to increased transportation costs associated with higher sales of premium coal[50] - Administrative expenses for the year were approximately RMB 213.2 million, an increase of about RMB 105.4 million or 97.8% from RMB 107.8 million in 2020, driven by higher professional service fees and additional costs related to tax penalties and R&D[53] - The average cost of coking coal increased to RMB 806 per ton from RMB 649 per ton[46] Debt and Financial Position - The company has a net current liability of RMB 9.3 billion, raising significant doubts about its ability to continue as a going concern[64] - A preliminary restructuring framework has been reached with domestic creditors, converting part of the total liabilities into new ordinary shares and extending the remaining liabilities to February 2025[65] - The company is working closely with creditors and regulatory bodies to finalize the restructuring details and seek approval at upcoming creditor and shareholder meetings[66] - The audit report issued by Zhonghui Anda did not express an opinion due to significant uncertainties regarding the company's ability to continue as a going concern[60] - The group's bank balances and cash as of December 31, 2021, were approximately RMB 14.5 million, down from RMB 32.9 million in 2020[69] - The total bank borrowings due within one year as of December 31, 2021, were approximately RMB 5,853.8 million, with RMB 5,821.4 million bearing a fixed interest rate of 3.00% per annum[69] - The capital-to-debt ratio as of December 31, 2021, was 58.6%, compared to 63.7% in 2020[69] Corporate Governance - The board of directors consists of three executive directors and three independent non-executive directors, ensuring governance and oversight[123] - The audit committee consists of three independent non-executive directors, responsible for reviewing financial reporting and internal control processes[154] - The company is committed to maintaining high standards of corporate governance to maximize shareholder interests[165] - The board consists of six members, including three independent non-executive directors, ensuring compliance with listing rules regarding independence[168] - All independent non-executive directors confirmed their independence according to the listing rules, and the company believes they meet the independence guidelines[177] - The company held four board meetings during the year, with all directors attending all meetings, indicating strong engagement[181] Legal and Contingent Liabilities - The company received a claim for unpaid principal and interest amounting to approximately RMB 576 million related to a loan agreement dispute[90] - A civil lawsuit was initiated against the company and its subsidiaries for a claim of RMB 134 million regarding a bank acceptance bill agreement[91] - No provisions were made in the consolidated financial statements due to the inability to assess the outcome of the cases at this stage[92] - As of December 31, 2021, the group had no other significant contingent liabilities[93] Shareholder Information - As of December 31, 2021, Sarasin Trust holds 561,343,740 shares, representing 27.44% of the company's issued share capital[143] - Sanlian Investment owns 1,100,674,000 shares, accounting for 53.81% of the company's issued share capital[143] - The total issued share capital of the company as of December 31, 2021, is 2,045,598,399 ordinary shares[146] - The company did not recommend any final dividend for the year[84] - The distributable reserves available to shareholders were approximately RMB 697 million, up from RMB 52 million in 2020[117]

III WINDSTEIN 中期報告 2021 恒鼎實業國際發展有限公司 （於開曼群島註冊成立之有限公司） 股份代號: 1393 目錄 | --- | --- | |------------------------------|-------| | | | | 公司資料 | 2 | | 主席報告 | 4 | | 管理層討論與分析 其他資料 | 5 | | | 13 | | 簡明綜合損益及其他全面收入表 | 16 | | 簡明綜合財務狀況表 | 17 | | 簡明綜合權益變動表 | 19 | | 簡明綜合現金流量表 | 20 | | | | 簡明綜合財務報表附註 21 公司資料 | --- | --- | |------------------------------|---------------------------------------| | | | | 董事 | 授權代表 | | 執行董事 | 鮮揚先生 朱麗娟女士 | | 鮮揚先生（主席） | | | 孫建坤先生 | 註冊辦事處 | | 莊顯偉先生 | | | 獨立非執行董事 | Cricket Square Hutchins Drive | | ...

III ZITH 年 度 報 告 2020 856 Hildi liew 恒 鼎 實 業 國 際 發 展 有 限 公 司 (於開曼群島註冊成立之有限公司) 股份代號: 1393 目錄 | --- | --- | |--------------------------|-------| | 公司資料 | 2 | | 主席報告 | 4 | | 管理層討論與分析 | 9 | | 董事及高級管理層履歷 | 18 | | 董事會報告 | 20 | | 企業管治報告 | 28 | | 環境、社會及管治報告 | 35 | | 獨立核數師報告 | 40 | | 綜合損益及其他全面收益表 | 42 | | 綜合財務狀況表 | 43 | | 綜合權益變動表 | 45 | | 綜合現金流量表 | 46 | | 綜合財務報表附註 | 48 | | | | 財務概要 104 公司資料 | --- | --- | |------------------------------------------------------|------------------------------| | 董事 | 核數師 | | 執行董事 | 中匯安 ...

IIII ISSUI 2020 INTERIM REPORT Hidili Industry International Development Limited (Incorporated in the Cayman Islands with limited liability) Stock Code: 1393 2020 中期報告 恒鼎實業國際發展有限公司 （於開曼群島註冊成立之有限公司） 股份代號: 1393 目錄 | --- | --- | |------------------------------|-------| | 公司資料 | 2 | | 主席報告 | 4 | | 管理層討論與分析 | 5 | | 其他資料 | 16 | | 簡明綜合損益及其他全面收入表 | 19 | | 簡明綜合財務狀況表 | 20 | | 簡明綜合權益變動表 | 22 | | 簡明綜合現金流量表 | 23 | | 簡明綜合財務報表附註 | 24 | 公司資料 | --- | --- | |------------------------------------------|------------------------ ...

IIII ISSIII 2019 年度報告 Hi9IJjew 恒 鼎 實 業 國 際 發 展 有 限 公 司 ( 於開曼群島註冊成立之有限公司) 股份代號: 1393 目錄 財務概要 104 | --- | --- | |--------------------------|-------| | 公司資料 | 2 | | 主席報告 | 4 | | 管理層討論與分析 | 9 | | 董事及高級管理層履歷 | 18 | | 董事會報告 | 20 | | 企業管治報告 | 28 | | 環境、社會及管治報告 | 35 | | 獨立核數師報告 | 39 | | 綜合損益及其他全面收益表 | 41 | | 綜合財務狀況表 | 42 | | 綜合權益變動表 | 44 | | 綜合現金流量表 | 45 | | 綜合財務報表附註 | 47 | 公司資料 | --- | --- | |------------------------------------------------------|------------------------------| | 董事 | 核數師 | | 執行董事 | 中匯安達會計師事務所有限公司 ...

Financial Performance - The company reported a revenue of approximately RMB 570.7 million for the six months ended June 30, 2019, a decrease of about 14.0% compared to RMB 663.9 million in the same period of 2018[19]. - Gross profit for the same period was approximately RMB 160.2 million, down 34.2% from RMB 243.6 million in 2018[18]. - The company recorded a pre-tax loss of RMB 125.7 million, an increase of 86.1% compared to a loss of RMB 67.6 million in the previous year[18]. - EBITDA for the period was approximately RMB 125.2 million, a decrease of 33.7% from RMB 188.8 million in 2018[18]. - Total comprehensive loss for the period was RMB 125,675,000, compared to RMB 68,004,000 in 2018, indicating a year-over-year increase of 84.9%[84]. - Basic and diluted loss per share was RMB 6, compared to RMB 3 in the same period last year, reflecting a 100% increase in loss per share[84]. - The company reported a net loss attributable to owners of RMB 125,675,000 for the six months ended June 30, 2019, compared to a loss of RMB 68,004,000 in the same period of 2018, representing an increase in loss of 84.9%[131]. Sales and Revenue Breakdown - Sales of raw coal significantly declined, contributing only RMB 18.4 million to revenue, down approximately 94.4% from RMB 328.3 million in 2018[19]. - Sales revenue from premium coal increased by approximately 76.6%, rising from RMB 286.7 million in 2018 to RMB 506.2 million in 2019, driven by an increase in sales volume[19]. - The sales volume of premium coal rose from approximately 270,300 tons to about 489,400 tons, an increase of about 81.1%[19]. - Sales of premium coal and its by-products reached RMB 570,651 thousand, down from RMB 663,855 thousand, indicating a decline of approximately 14% year-over-year[115]. Cost and Expenses - Sales cost for the review period was approximately RMB 410.5 million, a slight decrease of about RMB 9.8 million or 2.3% from RMB 420.3 million in the same period of 2018[22]. - Employee costs increased to approximately RMB 187.8 million, an increase of about RMB 19.8 million or 11.8% from RMB 168.0 million in the same period of 2018[27]. - Distribution expenses decreased to approximately RMB 44.4 million, a reduction of about RMB 14.6 million or 24.7% compared to RMB 59.0 million in the same period of 2018[32]. - Administrative expenses decreased to approximately RMB 53.7 million, a reduction of about RMB 10.6 million or 16.5% from RMB 64.3 million in the same period of 2018[33]. - Total employee costs increased to RMB 219,406,000 in 2019 from RMB 193,873,000 in 2018, reflecting a rise of 13.2%[128]. Debt and Financial Position - The company is in discussions for a debt restructuring plan, which is expected to be formally initiated in the second half of 2019[15]. - As of June 30, 2019, the group's net current liabilities amounted to approximately RMB 9,097 million, compared to RMB 8,994 million as of December 31, 2018[45]. - The total amount of bank and other borrowings due within one year as of June 30, 2019, was approximately RMB 5,903 million, slightly down from RMB 5,925 million as of December 31, 2018[45]. - The capital-to-debt ratio as of June 30, 2019, was 67.3%, a decrease from 68.4% as of December 31, 2018[45]. - The company has a loan of RMB 3,203 million with a fixed interest rate ranging from 3.00% to 11.50%, while the remaining loans have floating interest rates between 3.68% and 5.70%[141]. Assets and Liabilities - Non-current assets as of June 30, 2019, totaled RMB 9,831,247,000, slightly down from RMB 9,867,494,000 at the end of 2018[87]. - Current assets increased to RMB 946,319,000 from RMB 768,382,000 at the end of 2018, marking a growth of 23.2%[87]. - Current liabilities rose to RMB 10,043,069,000 from RMB 9,762,604,000, an increase of 2.9%[87]. - The company's total equity decreased to RMB 709,547,000 from RMB 835,222,000, a decline of 15.0%[90]. - The total trade payables as of June 30, 2019, amounted to RMB 440,432,000, up from RMB 403,990,000 as of December 31, 2018, indicating an increase of 9.0%[140]. Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring oversight of the financial reporting process and internal controls[77]. - The company has adopted the corporate governance code and has complied with its provisions during the review period[78]. - The company did not declare or recommend any dividends for the periods ended June 30, 2019, and 2018[129]. Legal and Contingent Liabilities - The company is involved in a civil lawsuit regarding a loan agreement dispute, with claims amounting to approximately RMB 134 million for both Sichuan Haohang and Sichuan Hengding[64]. - The group faces potential liabilities related to a court petition for liquidation, with hearings postponed for substantive arguments[62]. - As of June 30, 2019, the company did not make any provisions in the consolidated financial statements due to the inability to assess the outcome of the case[65]. - The company reported no other significant contingent liabilities as of June 30, 2019[66]. Investments and Capital Expenditures - The company has invested RMB 18.0 million in a non-listed equity investment, representing a 15% stake in a company engaged in mining machinery production and coking coal trading services[58]. - The company invested approximately RMB 11.3 million in property, plant, and equipment during the reporting period, compared to RMB 3.8 million in the same period of 2018[132]. - Capital commitments for the acquisition of properties, plants, and equipment as of June 30, 2019, were RMB 401,893 thousand, slightly down from RMB 403,866 thousand as of December 31, 2018[144]. Cash Flow and Liquidity - The company reported cash and cash equivalents of RMB 18,112,000, up from RMB 11,166,000 at the end of 2018, indicating a growth of 62.3%[87]. - Net cash generated from operating activities was RMB 104,602 thousand, an increase from RMB 87,582 thousand in the previous period, representing a growth of approximately 19%[97]. - The cash used in investing activities amounted to RMB (27,290) thousand, compared to RMB (48,757) thousand in the prior period, indicating a reduction in cash outflow by approximately 44%[97]. - Cash used in financing activities totaled RMB (70,366) thousand, a significant decrease from RMB (44,824) thousand, reflecting a change in financing strategy[97]. - The net increase in cash and cash equivalents was RMB 6,946 thousand, contrasting with a decrease of RMB (5,999) thousand in the previous period[97].

Financial Performance - For the year ended December 31, 2018, the company recorded revenue and adjusted EBITDA of approximately RMB 1,072 million and RMB 138 million, respectively, representing increases of approximately 31.6% and 55.9% compared to the previous year[10]. - The company achieved a gross profit of approximately RMB 251 million, an increase of approximately RMB 118 million or 89.0% from the previous year[10]. - The company's revenue increased to approximately RMB 1,072.2 million, a rise of about 31.6% compared to RMB 814.6 million in 2017[38]. - The company recorded a gross profit of approximately RMB 251.4 million and an adjusted EBITDA of about RMB 138.0 million[38]. - The company's gross profit was approximately RMB 251.4 million, an increase of about 89.0% from RMB 133.0 million in 2017, resulting in a gross profit margin of approximately 23.5%[51]. - Other income for the year was approximately RMB 36.3 million, a 50.0% increase from RMB 24.2 million in 2017, primarily due to government subsidies rising from RMB 20.4 million to RMB 26.4 million[52]. - The company recorded a loss of approximately RMB 399.4 million for the year, a reduction of about 62.9% from RMB 1,077.8 million in 2017[61]. - Adjusted EBITDA for the year was approximately RMB 137.968 million, with an adjusted EBITDA margin of 12.9%, compared to 10.9% in 2017[62][63]. Production and Capacity - The company's raw coal production increased from approximately 2,013,000 tons in 2017 to 2,381,000 tons in 2018, a growth of approximately 18.3%[10]. - The company experienced a significant increase in premium coal production, with output rising from approximately 414,000 tons in 2017 to about 598,000 tons in 2018, marking a growth of approximately 44.4%[10]. - The total integrated production capacity of the company's coal mines was 5,550,000 tons, with an actual production of 1,836,000 tons, reflecting a 30.3% change[15]. - The estimated budgeted production for 2019 is projected to reach approximately 3,070,000 tons[22]. - The total raw coal production in Guizhou Province for the year was approximately 1,836,000 tons, accounting for 84.6% of the estimated budgeted production of 2,170,000 tons for 2017[21]. - The total raw coal production in Sichuan Province for the year was approximately 545,000 tons, which is 90.8% of the estimated budgeted production of 600,000 tons for 2017[25]. - The total coal reserves in Yunnan Province are approximately 3,600,000 tons, with a total production of about 214,000 tons in 2018, representing 35.7% of the estimated budgeted production of 600,000 tons for 2017[30]. Costs and Expenses - The average production cost of premium coal was approximately RMB 873 per ton, an increase of 10.5% compared to the previous year[10]. - The company’s cash cost of coal extraction per ton was approximately RMB 306, an increase of about 7.7% compared to the previous year[10]. - The total sales cost for the year was approximately RMB 820.8 million, an increase of about 20.4% from RMB 681.6 million in 2017[46]. - The company's administrative expenses decreased by approximately 32.5% to RMB 134.2 million from RMB 198.7 million in 2017[58]. - Financing costs decreased by approximately 11.0% to RMB 414.7 million from RMB 465.8 million in 2017, mainly due to reduced interest expenses[59]. Shareholder and Capital Structure - The closing price of the company's shares on December 31, 2018, was HKD 0.255, a rise of approximately 10.4% from HKD 0.231 on December 31, 2017, while the Hang Seng Index fell by approximately 13.9% during the same period[9]. - The company's total issued share capital as of December 31, 2018, was 2,045,598,399 ordinary shares[131]. - Major shareholders include Sanlian Investment holding 1,100,674,000 shares, representing 53.81% of the total issued share capital[136]. - Sarasin Trust holds 561,343,740 shares, accounting for 27.44% of the total issued share capital[136]. - The capital debt ratio as of December 31, 2018, was 68.4%, slightly down from 69.2% in 2017[70]. Legal and Contingent Liabilities - The company received a civil lawsuit from China Merchants Bank for an unpaid principal and interest amounting to approximately RMB 576 million as of January 20, 2016[87]. - A second civil lawsuit was filed by Shanghai Pudong Development Bank for an unpaid amount of approximately RMB 268 million as of April 18, 2017[88]. - The company has not made any provisions in its consolidated financial statements due to the inability to assess the outcome of the cases[89]. - As of December 31, 2018, the group had no other significant contingent liabilities[90]. Governance and Management - The company has established appropriate directors and officers liability insurance for its directors and senior management[126]. - The board of directors includes three executive directors and three independent non-executive directors, with specific service agreements in place[120][124]. - The audit committee consists of three independent non-executive directors, ensuring compliance with financial reporting standards[147]. - The company has adopted the corporate governance code and believes it has complied with its provisions during the year[152]. - The board confirmed compliance with the internal control system effectiveness and has established a policy for handling inside information[195]. Employee and Operational Information - Employee count increased to 5,888 as of December 31, 2018, from 4,916 in 2017, leading to employee costs of approximately RMB 398.9 million, up from RMB 304.0 million in 2017[79]. - The company does not recommend any final cash dividend for the year[81]. - The group had bank balances and cash of approximately RMB 11.2 million as of December 31, 2018, down from RMB 22.6 million in 2017[67]. - The group had pledged assets totaling approximately RMB 3,661 million as collateral for bank loans as of December 31, 2018, compared to RMB 3,544 million in 2017[78].