GUANGDONG – HONG KONG GREATER BAY AREA HOLDINGS LIMITED 粵港灣控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1396） 董事名單與其角色和職能 | | 董事委員會 | 審核委員會 | 提名委員會 | 薪酬委員會 | | --- | --- | --- | --- | --- | | 董事 | | | | | | 執行董事 | | | | | | 羅介平先生 | | - | M | - | | ( 董事會主席 ) | | | | | | 何飛先生 | | - | - | - | | （總裁） | | | | | | 魏海燕女士 | | - | - | M | | 獨立非執行董事 | | | | | | 關浣非先生 | | M | - | C | | 韓秦春先生 | | C | M | M | | 陈阳升先生 | | M | C | - | 附注： C 董事會委員會主席 M 董事會委員會成員 2025 年 1 月 20 日 自 2025 年 1 月 21 日起生效，粵港灣控股有限公司董事會（「董事會」）成員 及其各自於董事會及董事會委員會的角色 ...

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。 GUANGDONG – HONG KONG GREATER BAY AREA HOLDINGS LIMITED 粵港灣控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1396） 董事辭任 董事辭任 粵港灣控股有限公司（「本公司」）董事（「董事」）會（「董事會」）公佈並 於 2025 年 1 月 21 日生效： 王先生、蔡先生及曾先生各自已確認，彼與董事會概無任何意見分歧，亦無其他 與彼之辭任有關的事項須提請本公司股東及香港聯合交易所有限公司垂注。 作為名譽主席，王先生不會再擔任公司董事或高級職員，亦不會在本公司擔任任何管理 職務，也無需參與董事會會議，並在其服務期內不會收取任何報酬。 董事會對王先生、蔡先生及曾先生於任內對本公司作出的寶貴貢獻表示衷心感謝。 - 1 - 1. 王再興先生(「王先生」)因年事已高、希望退休享受晚年生活，繼而辭任本公 司執行董事及董事會聯席主席，並獲委任為本公司名譽 ...

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。 董事會謹此向股東及潛在投資者提供有關該等出售事項的其他資料，尤其是有關目標 集團於2024年9月30日（「估值日期」）歸屬於本公司的綜合淨資產估值（「估值」） 的詳情如下： HOLDINGS LIMITED 估值 粵港灣控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1396） GUANGDONG - HONG KONG GREATER BAY AREA 補充公告 有關出售目標股權的須予披露交易 茲提述粵港灣控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）日期為 2024年12月4日有關出售事項的公告（「該公告」）。除另有界定外，本公告所用詞 彙與該公告所界定者具有相同涵義。 誠如該公告所披露，代價乃經本公司及買方公平磋商後按正常商業條款釐定，當中參 考（ 其 中 包括 ） 該 估值 。 本 公司 委 任 獨立 估 值 師大 華 國 際交 易 諮 詢服 務 有 限公司 （「估值師」）進 ...

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。 GUANGDONG - HONG KONG GREATER BAY AREA HOLDINGS LIMITED 粵港灣控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1396） 上市規則的涵義 由於有關出售事項的其中一項或多項根據上市規則第 14.07 條計算的適用百分比率 超過 5%但低於 25%，故出售事項構成上市規則第 14 章項下本公司的一項須予披露 交易，須遵守上市規則第 14 章項下的通知和公告的規定。 出售目標股權 於2024年12月4日（聯交所交易時段後），本公司（作為賣方）與買方訂立有關出售 事項的股份轉讓協議。根據股份轉讓協議，本公司有條件同意出售，而買方有條件同 意購買目標股權，代價為港幣36.0百萬元。 出售事項完成後，本集團將不再持有目標公司任何股權，目標集團將不再是本集團附 屬公司，而目標集團的財務業績將不再併入本集團的綜合財務報表。 - 1 - 須予披露交易 出售 ...

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之任何損失承擔任何責任。 GUANGDONG - HONG KONG GREATER BAY AREA HOLDINGS LIMITED 粵港灣控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1396） 委任核數師 本公告乃由粵港灣控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根 據香港聯合交易所有限公司證券上市規則第 13.51(4)條作出。 茲提述本公司日期為 2024 年 11 月 21 日之公告（「該公告」），內容有關核數師辭 任。除文義另有所指外，本公告所用詞彙與該公告所界定者具有相同涵義。 董事會欣然宣佈，經考慮本公司審核委員會（「審核委員會」）的推薦建議，已決議 委任栢淳會計師事務所有限公司（「栢淳」）為本公司新核數師，自 2024 年 11 月 22 日起生效，以填補開元信德辭任後之臨時空缺，任期直至本公司下屆股東週年大會 結束為止。 審核委員會於評估委任栢淳為本公司新任核數師時已考慮多項因 ...

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之任何損失承擔任何責任。 GUANGDONG - HONG KONG GREATER BAY AREA HOLDINGS LIMITED 粵港灣控股有限公司 董事會正物色新核數師以填補開元信德辭任後的空缺。董事會及本公司審核委員會預 期，辭任將不會對編製本集團截至二零二四年十二月三十一日止之年度業績產生任何 重大影響。本公司將根據上市規則在適當時就委任本公司新核數師作出進一步公告。 -1- 承董事會命 粵港灣控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1396） 核數師辭任 本公告乃由粵港灣控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根 據香港聯合交易所有限公司證券上市規則（「上市規則」）第 13.51(4)條作出。 本公司董事會（「董事會」）宣佈，開元信德會計師事務所有限公司（「開元信德」） 經考慮多項因素（包括其可用內部資源）後，已辭任本公司之核數師，自 2024 年 11 月 21 日起生效（「 ...

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的 任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購證券的邀請或要約。本公告並不構成在美國購買或認購證 券的任何要約或招攬或其一部份。證券並無亦不會根據 1933 年美國證券法（經修訂）（「 證券法 」）或 於美國任何州或其他司法權區的任何證券監管機構登記。證券根據證券法 S 規例於美國以外地區發售及 出售，而除非根據證券法登記或獲豁免登記，否則不得在美國提呈或出售。概不會於美國或有關提呈發 售受限制或禁止的任何其他司法權區進行公開發售。於美國公開發售的任何證券將以招股章程形式進行， 有關招股章程可向本公司索取，並將載有關於本公司及管理層的詳細資料以及財務報表。本公司無意於 美國登記任何部分提呈發售。 GUANGDONG–HONG KONG GREATER BAY AREA HOLDINGS LIMITED 粵 港 灣 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1396） 海外監管公告 本 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 粵港灣控股有限公司 呈交日期： 2024年10月30日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 01396 | 說明 | | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | ...

粵港灣控股有限公司 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 對 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。 本 公 告 僅 供 參 考，並 不 構 成 收 購、購 買 或 認 購 本 公 司 證 券 之 邀 請 或 要 約。 本 公 告 或 其 任 何 副 本 概 不 得 直 接 或 間 接 於 美 國（包 括 其 領 土 及 屬 地、美 國 任 何 州 及 哥 倫 比 亞 特 區）或 在 刊 發 或 派 發 本 公 告 可 能 屬 違 法 之 任 何 其 他 司 法 管 轄 區 內 刊 發 或 派 發。向 香 港 以 外 司 法 管 轄 區 派 發 本 公 告 可 能 受 法 律 限 制。獲 得 本 公 告 之 人 士 應 自 行 了 解 並 遵 守 任 何 有 關 限 制。倘 未 能 遵 守 該 等 限 制 而 可 能 構 成 違 反 任 何 有 關 司 法 管 轄 區 之 證 券 法 例，本 公 司 將 不 會 承 擔 任 何 ...

Sales Performance - Contracted sales in the first half of 2024 decreased by 57.6% to approximately RMB565.3 million compared to the same period in 2023 (RMB1,334.6 million)[9] - Residential property sales accounted for 91.6% of total sales, while commercial and other properties accounted for 8.4%[9] - Contracted sales for the first half of 2024 were approximately RMB565.3 million, a decrease of 57.6% compared to RMB1,334.6 million in the same period last year, with residential property sales accounting for 91.6% and commercial and other property sales accounting for 8.4%[13] - Revenue from property sales increased to RMB 845.819 million in the first half of 2024, up from RMB 370.044 million in the same period in 2023[94] - Revenue from residential property sales rose to RMB 407.689 million in H1 2024, compared to RMB 206.636 million in H1 2023[95] - Revenue from commercial property sales grew to RMB 438.130 million in H1 2024, up from RMB 163.408 million in H1 2023[95] Revenue and Costs - Revenue for the six months ended 30 June 2024 was approximately RMB861.7 million, a decrease of 46.9% compared to RMB1,624.2 million in the same period last year, primarily due to a significant drop in transaction volume and a change in the operating model of the trading business[10][14] - Revenue from property development and related services increased by 92.3% to approximately RMB861.7 million, driven by an increase in delivered area of properties[10][14] - Total cost of sales for the Period was approximately RMB1,226.0 million, with property development and related services cost of sales increasing by 84.6% to RMB1,225.1 million, in line with the increase in delivered area of property[11][15] - The Group recorded a gross loss of approximately RMB364.3 million, compared to a gross loss of RMB213.5 million in the same period last year, mainly due to a severe decline in the average selling price of properties and a write-down of inventories amounting to approximately RMB205.5 million[12][16] - Revenue for the six months ended 30 June 2024 was RMB 861.7 million, a significant decrease from RMB 1,624.2 million in the same period in 2023[70] - Gross loss for the six months ended 30 June 2024 was RMB 364.3 million, compared to a gross loss of RMB 213.5 million in the same period in 2023[70] - Loss from operations before fair value gain on investment properties was RMB 922.9 million for the six months ended 30 June 2024, compared to RMB 283.2 million in the same period in 2023[70] - Loss for the period attributable to equity shareholders of the company was RMB 1,028.3 million for the six months ended 30 June 2024, compared to RMB 659.1 million in the same period in 2023[70] - The company's total revenue from contracts with customers and other sources was RMB 861.703 million in H1 2024, down from RMB 1.624 billion in H1 2023[94] - Reportable segment revenue for property development and related services in 2024 was RMB 861,703 thousand, a decrease from RMB 1,624,180 thousand in 2023[101] - Reportable segment loss (adjusted LBITDA) for 2024 was RMB (444,547) thousand, compared to RMB (373,817) thousand in 2023[101] - Impairment loss, net for 2024 was RMB (477,461) thousand, significantly higher than RMB (109,240) thousand in 2023[101] - Fair value loss on investment properties for 2024 was RMB (41,785) thousand, a decrease from RMB (412,000) thousand in 2023[101] - Loss before taxation for 2024 was RMB (1,027,236) thousand, compared to RMB (889,857) thousand in 2023[102] - Net gain on disposal of subsidiaries in 2023 was RMB 203,126 thousand, while there was no such gain in 2024[103] - Loss attributable to equity shareholders increased to RMB 1,028,298 thousand in 2024 from RMB 659,088 thousand in 2023[116] - Basic loss per share increased to RMB 218.6 cents in 2024 from RMB 145.3 cents in 2023[116] - Weighted average number of ordinary shares increased to 470,360 thousand in 2024 from 453,735 thousand in 2023[116] Financial Position - The Group's total land bank with confirmed land use rights was approximately 7.1 million sq.m. as of 30 June 2024[9] - Total cash balances (including pledged and restricted cash) as of 30 June 2024 were RMB345.4 million, down from RMB594.4 million as of 31 December 2023[26] - Bank loans and other borrowings as of 30 June 2024 amounted to RMB2,788.9 million, a decrease from RMB2,995.5 million as of 31 December 2023[27] - Senior notes as of 30 June 2024 were RMB3,267.0 million, slightly up from RMB3,221.9 million as of 31 December 2023[27] - Contingent liabilities related to mortgage guarantees increased to RMB2,891.4 million as of 30 June 2024 from RMB2,449.6 million as of 31 December 2023[30] - Capital commitments for construction and development contracts as of 30 June 2024 were RMB2,558,983 thousand, down from RMB2,883,733 thousand as of 31 December 2023[33] - Current ratio decreased to 1.33 as of 30 June 2024 from 1.39 as of 31 December 2023[37] - Gearing ratio increased to 37.0% as of 30 June 2024 from 35.0% as of 31 December 2023[37] - The Group's total staff costs for the period were approximately RMB34.1 million, a decrease from RMB48.6 million in the same period last year[39] - As of 30 June 2024, the Group had 236 employees, down from 241 employees as of 31 December 2023[39] - The Group has no material foreign exchange exposure, with most operations conducted in Renminbi and only minor exposure from overseas deposits and foreign currency borrowings[39][41] - The Group did not make any material acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[39][42] - The domestic real estate market continues to decline, with contract sales and sales area experiencing double-digit declines in the first half of 2024[43] - The nationwide destocking cycle for commercial housing exceeds two years[43] - The Group plans to strengthen sales collections and accelerate inventory turnover through optimized sales strategies[45][46] - The Group will focus on controlling costs and expenses to improve efficiency and ensure coordinated development[45][46] - The Group aims to expand financing channels, optimize debt structure, and reduce financing costs[45][46] - The Group will actively explore investment opportunities in the Greater Bay Area, leveraging regional economic and industrial development potential[45][46] - The total issued share capital of the company as of 30 June 2024 is 542,735,400 shares[49][53][54] - The total number of outstanding shares under the Share Option Scheme as of 30 June 2024 was 2,100,000 shares, representing approximately 0.39% of the company's issued shares[56] - No options or awards were granted by the company during the six months ended 30 June 2024[56] - The options granted on 26 June 2022 vest and are exercisable in three tranches: 30% on 1 April 2023, 30% on 1 April 2024, and 40% on 1 April 2025[57] - The company has complied with the Corporate Governance Code (CG Code) as set out in Appendix C1 to the Listing Rules during the period[60] - The Audit Committee consists of three independent non-executive directors: Mr. Han Qinchun (Chairman), Mr. Guan Huanfei, and Mr. Chen Yangsheng[63] - The company's unaudited condensed consolidated interim results for the period were reviewed by the Audit Committee, confirming compliance with applicable accounting principles and standards[63] - The company did not declare any interim dividend for the six months ended 30 June 2023[67] - The company issued 89,000,000 new shares at a subscription price of HK$0.1 per share, raising gross proceeds of HK$8,900,000[67] - Net proceeds from the share subscription were approximately HK$8,400,000 after deducting related costs and expenses[67] - All net proceeds were used for the group's general working capital as of 30 June 2024[67] - The share subscription involved eight subscribers, including seven PRC residents and one BVI company[67] - The company's audit committee reviewed the unaudited interim financial statements and confirmed compliance with accounting principles[66] - The audit committee consists of three independent non-executive directors[66] - The company complied with the Corporate Governance Code during the reporting period[64] - All directors confirmed compliance with the Model Code for securities transactions[65] - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[67] - The company issued 89,000,000 new shares on 28 May 2024, bringing the total issued shares to 542,735,400 as of 30 June 2024[68] - The company issued new senior notes with a principal amount of US$413.6 million on 28 April 2023, and the outstanding principal amount of the new notes was US$439.1 million as of 25 October 2023[68] - The interest rate on the new senior notes was reduced from 7.0% per annum to 4.5% per annum, and the maturity date was extended from 28 April 2026 to 28 April 2029[68] - The company did not hold any significant investments (representing 5% or more of total assets) as of 30 June 2024, but is exploring investment opportunities[69] - Loss for the period increased to RMB 1,027,825 thousand in 2024 from RMB 740,865 thousand in 2023, representing a 38.7% increase in losses[71] - Total comprehensive loss for the period rose to RMB 1,038,892 thousand in 2024 compared to RMB 800,373 thousand in 2023, a 29.8% increase[71] - Investment properties decreased to RMB 1,618,315 thousand in 2024 from RMB 1,660,100 thousand in 2023, a 2.5% decline[72] - Inventories and other contract costs reduced to RMB 10,852,682 thousand in 2024 from RMB 11,694,419 thousand in 2023, a 7.2% decrease[72] - Trade and other receivables dropped to RMB 2,675,787 thousand in 2024 from RMB 3,468,927 thousand in 2023, a 22.9% reduction[72] - Net current assets decreased to RMB 3,509,237 thousand in 2024 from RMB 4,581,847 thousand in 2023, a 23.4% decline[72] - Total assets less current liabilities fell to RMB 5,624,317 thousand in 2024 from RMB 6,616,920 thousand in 2023, a 15.0% decrease[72] - Senior notes increased to RMB 3,154,398 thousand in 2024 from RMB 3,109,999 thousand in 2023, a 1.4% rise[73] - Net assets declined to RMB 1,213,296 thousand in 2024 from RMB 2,244,433 thousand in 2023, a 45.9% decrease[73] - Total equity attributable to equity shareholders dropped to RMB 1,208,365 thousand in 2024 from RMB 2,238,655 thousand in 2023, a 46.0% reduction[73] - Total comprehensive loss for the six months ended 30 June 2024 was RMB 1,038,045 thousand, with a net loss of RMB 1,028,298 thousand and other comprehensive loss of RMB 9,747 thousand[79] - The company issued new shares amounting to RMB 8,106 thousand, with transaction costs of RMB 456 thousand[79] - Retained profits decreased significantly to RMB (1,985,276) thousand as of 30 June 2024, compared to RMB (956,978) thousand at the end of 2023[79] - Non-controlling interests decreased to RMB 4,931 thousand as of 30 June 2024, down from RMB 5,778 thousand at the end of 2023[79] - Total equity as of 30 June 2024 was RMB 1,213,296 thousand, a decrease from RMB 2,244,433 thousand at the end of 2023[79] - Operating cash flow decreased to RMB 606.7 million in H1 2024 from RMB 674.9 million in H1 2023, reflecting a decline in cash generated from operations[82] - Net cash outflow from acquisitions and disposals of subsidiaries was RMB 0 in H1 2024, compared to RMB 14.0 million in H1 2023[82] - Proceeds from new shares issuance amounted to RMB 7.7 million in H1 2024, with no comparable activity in H1 2023[83] - Net cash used in financing activities was RMB 611.6 million in H1 2024, slightly higher than RMB 592.3 million in H1 2023[83] - Cash and cash equivalents decreased by RMB 1.4 million in H1 2024, compared to an increase of RMB 68.7 million in H1 2023[83] - The company's cash and cash equivalents stood at RMB 25.7 million as of 30 June 2024, down from RMB 145.2 million as of 30 June 2023[83] - The interim financial report was authorized for issue on 28 August 2024, prepared in accordance with IAS 34 and IFRS standards effective from 1 January 2024[84] - The financial statements include comparative information derived from the 2023 annual financial statements, which were audited with an unqualified opinion[85] - The Group incurred a loss of RMB1,027,825,000 for the six months ended 30 June 2024[86] - As of 30 June 2024, the Group had net current assets of RMB3,509,237,000[86] - The Group's current portion of bank loans and other borrowings amounted to RMB1,575,201,000 as of 30 June 2024[86] - The Group's cash and cash equivalents and bank balance of advanced proceeds received from property purchasers amounted to RMB25,714,000 and RMB217,818,000, respectively, as of 30 June 2024[86] - The Group's current portion of bank loans and other borrowings reduced to RMB1,124,841,000 as of the report date due to timely repayments and extensions[86] - The Group was unable to repay the principal and interest on October 2023 Senior Notes amounting to approximately US$15,801,000 and US$4,377,000 (equivalent to RMB112,611,000 and RMB31,194,000), respectively[86] - The Group's inability to repay the October 2023 Senior Notes may lead to an event of default and immediate repayment demands[86] - The directors believe the Group will have sufficient working capital to meet financial obligations within the next 15 months from 30 June 2024[90] - Material uncertainty exists regarding the Group's ability to arrange sufficient financing through refinancing or renewal of bank borrowings and operating cash flows from property sales[90] - The Group's financial statements for the six months ended 30 June 2024 were prepared on a going concern basis[90] - The company operates two main business segments: Property development and related services, and Trading business (non-ferrous metal)[96] - Segment performance is measured using "adjusted LBITDA" (adjusted losses before interest, taxes, depreciation, and amortisation)[98] - Reportable segment assets as of 30 June 2024 were RMB 15,717,551 thousand, down from RMB 17,561,172 thousand in 2023[101] - Reportable segment liabilities as of 30 June 2024 were RMB 14,438,875 thousand, compared to RMB 15,278,790 thousand in 2023[101] - Finance costs for 2024 were RMB 65,985 thousand, a decrease from RMB 211,398 thousand in 2023[101] - Depreciation and amortisation for 2024 was RMB 2,671 thousand, down from RMB 8,981 thousand in 2023[101] - Depreciation and amortization for plant and equipment decreased to RMB 1,203 thousand in 2024 from RMB 6,711 thousand in 2023[105] - Net impairment losses on trade and other receivables increased significantly to RMB 477,461 thousand in 2024 from RMB 98,695 thousand in 2023[105] - Cost of inventories sold for properties increased to RMB 1,018,139 thousand in 2024 from RMB 498,257 thousand in 2023[105] - Current tax expense for PRC Corporate Income Tax decreased to RMB 330 thousand in 2024 from RMB 4,131 thousand in 2023[106] - Provision for PRC Land Appreciation Tax increased to RMB 87,127 thousand in 2024 from a negative provision of RMB 19,686 thousand in 2023[106] - Deferred tax reversal of temporary differences decreased to RMB 86,868 thousand in 2024 from RMB 133,437 thousand in 2023[106] - PRC Land Appreciation Tax is calculated based on 6% to 8% of revenue for certain subsidiaries[113] - The Group acquired property, plant and equipment with a cost of RMB264,000 during the six months ended 30 June 2024, compared to nil in the same period in 2023