上证报中国证券网讯（记者 唐燕飞）12月11日，记者从恒生指数有限公司官网获悉，恒生港股通软件 及半导体（可投资）指数将更名为恒生港股通软件主题指数，成分股数目固定为40只。该指数将加入阅 文集团、趣致集团、美图公司、汇量科技四家上市公司，同时剔除ASMPT、中芯国际、华虹半导体、 英诺赛科四家上市公司。上述变动将于2025年12月16日生效。 上证报中国证券网讯（记者 唐燕飞）12月11日，记者从恒生指数有限公司官网获悉，恒生港股通软件 及半导体（可投资）指数将更名为恒生港股通软件主题指数，成分股数目固定为40只。该指数将加入阅 文集团、趣致集团、美图公司、汇量科技四家上市公司，同时剔除ASMPT、中芯国际、华虹半导体、 英诺赛科四家上市公司。上述变动将于2025年12月16日生效。 来源：上海证券报·中国证券网 来源：上海证券报·中国证券网 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of $150 million for the fiscal year, representing a 25% year-over-year growth[1]. - The company reported a net profit margin of 15%, up from 12% in the previous year, indicating improved operational efficiency[1]. - The company recorded a net loss of approximately RMB 15,100,000 in 2023, compared to a net loss of approximately RMB 263,000,000 in 2022[88]. - Total revenue for the year ended December 31, 2023, was RMB 4,084,000, a significant decrease from RMB 4,084,000 in 2022[196]. - The net loss for the year was RMB 15,138,000, significantly reduced from a net loss of RMB 263,049,000 in 2022[196]. - Total comprehensive loss for the year amounted to RMB 28,703,000, down from RMB 312,410,000 in the previous year[196]. - The company’s cash and bank balances decreased to RMB 1,000 from RMB 17,125,000 in 2022[198]. - Total liabilities increased to RMB 750,902,000 from RMB 730,615,000 in the previous year[198]. - The company’s equity showed a capital deficit of RMB 693,581,000, compared to RMB 664,878,000 in 2022[198]. - The basic and diluted loss per share was RMB 1.10, a significant improvement from RMB 19.10 in the previous year[196]. Operational Developments - User data showed a 30% increase in active users, reaching 1.2 million by the end of the fiscal year[1]. - New product launches included a state-of-the-art packaging solution, expected to capture 15% of the market share within the next two years[1]. - The company is investing $10 million in R&D for new technologies aimed at enhancing operational efficiency[1]. - Market expansion plans include entering three new provinces in China, targeting a 10% increase in market penetration[1]. - The company aims to restore its operations, with plans to launch packaging services in Hong Kong and resume operations in China by April 2024[19]. - The company plans to acquire machinery in 2024 to resume its packaging business in China[24]. - The company has entered into a packaging management agreement with Haoyunlai, expected to generate revenue starting in early 2024[67]. - The company anticipates revenue of no less than HKD 4,600,000 from three agreements signed with Hong Kong companies in January 2024[68]. - The company has received indicative orders totaling RMB 106,800,000 from 11 existing clients for the period from April 1 to April 30, 2024[68]. Strategic Initiatives - The company provided guidance for the next fiscal year, projecting revenue growth of 20% to $180 million[1]. - The company is considering strategic acquisitions to bolster its product offerings, with a budget of $5 million allocated for potential targets[1]. - The management team emphasized the importance of sustainability in operations, aiming for a 50% reduction in waste by 2025[1]. - The board is committed to exploring all possibilities for business recovery, including the potential auction of assets if negotiations with the Bank of China fail[19]. - The group aims to strengthen its core packaging business in Hong Kong and China while diversifying into IT solutions to reduce business risks and ensure additional revenue sources[102]. Management and Governance - The company has established a new management team to oversee the restructuring and operational recovery efforts[17]. - The board has begun replacing all subsidiary directors and legal representatives as part of the restructuring process[17]. - The board has adopted a diversity policy to enhance board member diversity, considering various factors such as gender, age, and professional experience[32]. - The company has received annual confirmations of independence from all independent non-executive directors[32]. - The board meets at least four times a year to discuss overall strategy and the group's operational and financial performance[33]. - The company has established a whistleblowing policy for employees to report unusual behavior, which is handled by the Audit Committee[43]. Financial Challenges - The company faced a challenging period from 2022 to 2023, with trading suspended since September 1, 2022, and a new board appointed on February 13, 2023, to review operations and financial status[17]. - A subsidiary in Jiangxi, China, borrowed RMB 32 million and RMB 12 million from two banks, with both loans overdue, leading to legal actions for repayment[18]. - The company is negotiating with creditors regarding overdue payments, including approximately RMB 1.8 million in unpaid salaries to 38 employees[18]. - The group has overdue borrowings totaling approximately RMB 295,927,000 and RMB 410,088,000 in principal and related overdue interest, respectively[178]. - The independent auditor expressed significant uncertainty regarding the group's ability to continue as a going concern due to its financial situation[181]. Market and Competitive Landscape - The group faces significant competition in both the packaging and mobile gaming industries, requiring it to offer quality products at reasonable prices to meet customer needs[114]. - The company has not engaged in any significant acquisitions or disposals related to subsidiaries or associates for the year ended December 31, 2023[136]. - The company has established long-term relationships with multiple suppliers and conducts annual rigorous evaluations[119]. Compliance and Regulatory Matters - The company has implemented measures to ensure compliance with legal and regulatory requirements, including appointing a representative to oversee Ice River's operations[165]. - The independent non-executive directors confirmed that the contractual arrangements are fair and reasonable for the group and its shareholders[168]. - The company has not engaged in any related party transactions that require disclosure under the listing rules during the year[151].

Financial Performance - Mobile Internet (China) Holdings Limited announced its annual results for the year ending December 31, 2023[2]. - The company reported a significant increase in revenue, with a year-on-year growth of 25%[2]. - User data showed a total of 1.5 million active users, representing a 15% increase compared to the previous year[2]. - The company reported zero revenue for the year ended December 31, 2023, a decrease of 100% compared to RMB 4,100,000 in the previous year[77]. - The packaging division generated no revenue in 2023, down from RMB 4,084,000 in 2022, which accounted for 100% of total revenue[80]. - The overall gross profit for the year ended December 31, 2023, was zero, a decline of 100% from RMB 2,700,000 in 2022[85]. - The company recorded a net loss of approximately RMB 15,100,000 in 2023, compared to a net loss of RMB 263,000,000 in 2022[92]. - The total borrowings as of December 31, 2023, were approximately RMB 252,000,000, down from RMB 293,800,000 in 2022[94]. - The total comprehensive loss for the year amounted to RMB 28,703,000, compared to RMB 312,410,000 in the previous year, showing a substantial reduction in losses[200]. - The basic and diluted loss per share was RMB 1.10, a significant improvement from RMB 19.10 in the previous year[200]. Operational Challenges - The company faced a challenging period from 2022 to 2023, with shares suspended from trading since September 1, 2022[21]. - The subsidiary company in Jiangxi, China, borrowed RMB 32 million and RMB 12 million from two banks, with repayment due dates in June 2021 and April 2022, respectively, which remain unpaid[22]. - The subsidiary also owes approximately RMB 1.8 million in unpaid salaries to 38 employees, and the company is negotiating with creditors regarding repayment[22]. - The packaging division faced significant challenges, with operations in Jiangxi province suspended due to overdue payments totaling approximately RMB 44 million and employee dues of about RMB 1.8 million[71]. - The group is facing significant uncertainty regarding its ability to continue as a going concern due to its financial situation and the need for restructuring and refinancing efforts[185]. Strategic Initiatives - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20%[2]. - New product development initiatives are underway, focusing on enhancing mobile internet services and user experience[2]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[2]. - Mobile Internet (China) Holdings Limited is exploring potential mergers and acquisitions to strengthen its competitive position[2]. - The company initiated a financial restructuring on August 25, 2023, involving proposed share subscriptions and convertible bonds, as well as a mandatory unconditional cash offer[23]. - The company plans to establish packaging operations in Hong Kong and aims to resume packaging business in China by April 2024[23]. - The group plans to continue focusing on high-end packaging market opportunities, expecting higher profit margins[105]. - The group aims to restore its packaging business in China as its main operational focus while diversifying into IT solutions to mitigate business risks[106]. Governance and Management - New board members were appointed on February 13, 2023, and March 20, 2023, following the removal of the previous directors on January 18, 2023[21]. - A new management team was established to review the company's operational and financial status[21]. - The board is actively seeking potential investors and exploring feasible options to maintain and support the company's operations[21]. - The board of directors currently consists of five executive directors and three independent non-executive directors, providing diverse business experience and expertise[34]. - The company has adopted a board diversity policy, considering various aspects such as gender, age, cultural background, and professional experience[36]. - The company encourages directors to participate in ongoing professional development programs to enhance their knowledge and skills[43]. - The audit committee held two meetings during the fiscal year to oversee internal controls and risk management systems[47]. - The independent non-executive directors confirmed that the contractual arrangements and transactions are fair and reasonable, benefiting the company and its shareholders[172]. Debt and Financial Obligations - The group has outstanding loans totaling approximately RMB 295,927,000 and overdue interest of approximately RMB 410,088,000, which remain unpaid as of the report date[185]. - The group has outstanding debts to banks totaling approximately RMB 44,000,000, with enforcement actions initiated by creditors[183]. - The company has signed confirmation agreements with all creditors to reduce debt or convert it into equity, extending deadlines up to 5 years without accruing interest during this period[28]. - The outstanding principal amounts of the promissory notes and convertible bonds are HKD 40,000,000, HKD 120,000,000, and HKD 6,666,667, which matured on May 19, 2019, with no redemption or default involved[95]. Market and Competitive Landscape - The company faced significant competition in the mobile gaming industry, with large competitors possessing substantial financial and technical resources[119]. - The company relies heavily on major game distribution platforms and third-party payment providers for revenue generation, making it vulnerable to changes in these relationships[117]. - The company is subject to various legal and regulatory challenges related to its online gaming business in China, which may impact its operations[121]. Compliance and Audit - The independent auditor's report indicates that the company did not express an opinion on the consolidated financial statements due to insufficient audit evidence[181]. - The company has taken measures to ensure compliance with legal and regulatory requirements, including appointing a representative to oversee operations and review financial accounts weekly[169]. - The internal control policies and procedures have been deemed sufficient and effective following an annual review by the board through the audit committee[58].

Revenue Performance - The company's revenue for the six months ended June 30, 2023, was RMB 0, a decrease of approximately RMB 4,084,000 or 100.0% compared to RMB 4,084,000 for the same period in 2022[15]. - The packaging business's revenue for the six months ended June 30, 2023, was zero, as operations in Jiangxi Province were suspended due to overdue payments totaling approximately RMB 44,000,000[10][8]. - Revenue from the packaging business was RMB 0, a decline of 100% compared to RMB 4,084,000 in the same period last year, primarily due to the suspension of operations in Jiangxi Province[17]. - For the six months ended June 30, 2023, the company reported revenue of RMB 4,084,000, a decrease from RMB 4,780,000 in the same period of 2022, representing a decline of approximately 14.6%[57]. - For the six months ended June 30, 2023, the revenue from the manufacturing and sales of paper packaging products was RMB 4,084,000, while there was no revenue from mobile game products[71]. Business Strategy and Operations - The company plans to reduce resources allocated to its mobile gaming business due to increased competition and regulatory restrictions in China[11]. - The company has partnered with a health technology group to provide IT solutions for shared massage chair services, with expected revenue generation starting in early 2024[13]. - The new management team has been exploring potential opportunities in the IT solutions market since their appointment in 2023[13]. - The packaging business will continue to operate under a new management agreement from January 9, 2024, to January 8, 2028[8]. - The company is focusing on diversifying its business by leveraging expertise in mobile applications for commercial purposes[13]. - The group will continue to focus on high-end packaging business opportunities, expecting higher profit margins[38]. - The group plans to reduce resources allocated to mobile game development and focus on providing IT solutions to Sofre Health[38]. Financial Performance - Gross profit for the packaging business was RMB 0, down 100% from RMB 367,000 in the previous year, resulting in a gross margin drop from 9.0% to 0.0%[22]. - Other income was RMB 0, a decrease of approximately 100% or RMB 224,000 compared to the previous year, due to no revenue from waste paper sales and rental income[23]. - Selling and distribution expenses were RMB 0, a reduction of approximately 100% or RMB 4,780,000 from the previous year, attributed to the suspension of operations in Jiangxi Province[24]. - Administrative expenses decreased by approximately 53.5% to RMB 5,681,000 from RMB 12,209,000 in the previous year, mainly due to reduced personnel costs from the suspension of operations[26]. - Financing costs decreased to approximately RMB 7,871,000 from RMB 48,874,000 in the previous year, a reduction of approximately RMB 41,003,000 due to decreased loan principal[27]. - The net loss for the period was approximately RMB 13,552,000, an improvement from a net loss of approximately RMB 46,214,000 in the same period last year[29]. - The total comprehensive loss for the period was RMB 41,690,000, compared to RMB 56,768,000 in the previous year, showing a decrease of about 26.6%[57]. Assets and Liabilities - As of June 30, 2023, total borrowings amounted to approximately RMB 304,177,000, an increase from RMB 293,841,000 as of December 31, 2022[30]. - Total assets as of June 30, 2023, were RMB 60,348,000, down from RMB 65,737,000 as of December 31, 2022[73]. - Total liabilities increased to RMB 766,916,000 as of June 30, 2023, compared to RMB 730,615,000 as of December 31, 2022[73]. - As of June 30, 2023, the company's total liabilities exceeded its total assets by RMB 706,568,000, indicating a challenging financial position[59]. - The company has pledged assets with a book value of approximately RMB 36,894,000 as collateral for bank borrowings[46]. Cost Control and Cash Flow - The group is taking measures to tighten cost control to achieve positive cash flow from operations[37]. - The company is implementing cost control measures to achieve positive cash flow from operations[66]. - Discussions are ongoing with noteholders and convertible bondholders regarding the restructuring and/or refinancing of debts to secure necessary financing[66]. - The company is negotiating repayment plans with banks for existing loans to improve liquidity[66]. - The cash and cash equivalents at the end of the period were RMB 2,000, a decrease from RMB 1,476,000 at the beginning of the period[63]. Employee and Management Information - As of June 30, 2023, the group had 8 full-time employees, a significant decrease from 96 employees as of December 31, 2022[40]. - The total remuneration for key management personnel, including directors' remuneration, increased to RMB 369 thousand for the six months ended June 30, 2023, compared to RMB 107 thousand for the same period in 2022[107]. Dividends and Shareholder Information - The board does not recommend the payment of an interim dividend for the six months ended June 30, 2023[42]. - The company did not declare any dividends for the six months ended June 30, 2023, consistent with the previous year[87]. - The total issued and fully paid ordinary shares as of June 30, 2023, were 1,377,498 thousand shares, equivalent to RMB 11,161 thousand[102].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion HKD for the fiscal year 2022, representing a growth of 15% compared to the previous year[1]. - In 2022, the company's revenue was approximately RMB 4,100,000, a decrease of about RMB 178,400,000 or approximately 97.8% compared to RMB 182,500,000 in 2021[71]. - Total revenue for the year ended December 31, 2022, was RMB 4,084,000, compared to RMB 182,553,000 in 2021, representing a decline of approximately 98.77%[192]. - The overall gross profit for the year ended December 31, 2022, was approximately RMB 2,700,000, down 82.0% from approximately RMB 15,000,000 in 2021[82]. - The net loss for the year 2022 was approximately RMB 263,000,000, compared to a net loss of approximately RMB 189,900,000 in 2021[89]. - The company reported a basic and diluted loss per share of RMB 19.10 for 2022, compared to RMB 13.79 in 2021, representing a deterioration in earnings per share[192]. - The company recognized an impairment loss of RMB 105,845,000 for the year ended December 31, 2022, compared to RMB 7,497,000 in 2021, reflecting a substantial increase in impairment losses[186]. - The company experienced a significant increase in inventory write-offs, totaling RMB 105,845 thousand in 2022, compared to RMB 7,497 thousand in 2021, indicating a rise of approximately 1,313%[198]. Market Strategy and Outlook - The company provided a positive outlook for 2023, projecting a revenue growth of 20% driven by new product launches and market expansion strategies[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[1]. - The company plans to leverage its resources in mobile applications to explore partnerships in the information technology solutions sector, particularly in shared massage chair services at airports and train stations[20]. - The company plans to continue its existing packaging business while expanding into the shared massage chair business in China as part of its information technology solutions division[65]. Corporate Governance - The board of directors emphasized the importance of corporate governance and transparency in future operations[1]. - The board currently consists of five executive directors and three independent non-executive directors, bringing diverse business and professional experience[29]. - The company has adopted a board diversity policy, considering various aspects such as gender, age, cultural and educational background, professional experience, skills, and knowledge[29]. - The company has established three committees under the board: the Audit Committee, the Nomination Committee, and the Remuneration Committee, primarily composed of independent non-executive directors[38]. - The board is committed to maintaining high standards of corporate governance to enhance investor confidence and shareholder returns[25]. Financial Restructuring and Debt Management - The company underwent a difficult period from 2022 to 2023, with trading suspended on September 1, 2022, and a new board appointed on February 13, 2023, and March 20, 2023[18]. - On August 25, 2023, the company successfully initiated a financial restructuring involving share subscriptions and convertible bonds, as well as a mandatory unconditional cash offer[19]. - The board expects to improve liquidity and financial conditions through a debt restructuring plan initiated in 2023, aiming to eliminate significant uncertainties regarding going concern by 2024[22]. - The group reported a net loss of approximately RMB 263,049,000 for the year ended December 31, 2022, with current liabilities exceeding current assets by approximately RMB 713,490,000[178]. - The group has overdue borrowings totaling approximately RMB 293,842,000 and RMB 389,902,000 in related overdue interest[178]. Operational Challenges - The company has engaged legal counsel to address outstanding debts, including approximately RMB 1.8 million in unpaid salaries to 38 employees[19]. - The company has terminated its management control over a subsidiary, which will no longer be accounted for as a subsidiary, impacting the financial results for the year ending December 31, 2023[22]. - The company has not established any management or administrative contracts that involve a significant portion of its business[172]. - The independent auditor's report expressed a basis for not issuing an opinion due to significant uncertainties regarding the group's ability to continue as a going concern[177]. Sustainability and Social Responsibility - The management highlighted a commitment to sustainability, with a goal to reduce carbon emissions by 15% over the next three years[1]. - The group recognizes the importance of environmental policies and has implemented measures to control pollutant emissions during production[108]. Customer and Supplier Relationships - The largest customer accounted for approximately 37.30% of the total revenue in 2022, compared to 4.75% in 2021[126]. - The top five customers contributed 100.00% of the total revenue in 2022, up from 17.55% in 2021[126]. - The group has established long-term relationships with suppliers and conducts annual evaluations[118]. Risk Management - The company identified key risks including strategic risks (regulatory risks, technological advancements, changing consumer preferences, competition, and reputational risks), operational risks (labor supply shortages, workplace injuries, asset damage, and IT system failures), and financial risks (liquidity, credit, interest rate, and inflation risks)[55]. - The board of directors is responsible for the internal control and risk management systems, which were deemed sufficient and effective following an annual review[53].

Revenue Performance - The packaging business revenue decreased by 96.8% to approximately RMB 4,084,000 from RMB 127,596,000 in the previous year, accounting for 100.0% of the total revenue[9] - The group's revenue for the review period was approximately RMB 4,084,000, a decrease of about RMB 124,081,000 or approximately 96.8% compared to the same period last year, primarily due to the impact of the pandemic on packaging product sales[17] - Revenue for the six months ended June 30, 2022, was RMB 4,084,000, compared to RMB 128,165,000 for the same period in 2021, representing a decline of approximately 96.8%[63] - Revenue from the sale of flexo-printed cartons was approximately RMB 1,405,000, accounting for about 34.4% of total revenue, while revenue from litho-printed cartons was approximately RMB 2,679,000, accounting for about 65.6% of total revenue[19] - Revenue from the food and beverage sector accounted for approximately 69.6% of packaging business revenue, with sales amounting to approximately RMB 2,842,000, compared to 22.8% in the previous year[22] - The mobile gaming segment did not generate any revenue during the review period, reflecting a 100.0% decrease in resources allocated to this area[14] Financial Losses and Expenses - The net loss for the review period was approximately RMB 46,214,000, an improvement from a net loss of approximately RMB 51,912,000 in the same period last year[34] - The company reported a loss before tax of RMB 46,214,000 for the six months ended June 30, 2022, compared to a loss of RMB 51,794,000 in the prior year, showing an improvement of approximately 10.1%[63] - Total comprehensive loss for the period was RMB 56,768,000, compared to RMB 42,548,000 in 2021, reflecting a worsening of approximately 33.4%[63] - The overall gross profit decreased by approximately RMB 16,568,000 or about 97.8% to approximately RMB 367,000, with a gross profit margin dropping from about 13.2% to approximately 9.0%[25] - Selling and distribution expenses were approximately RMB 4,780,000, a decrease of about 44.8% or approximately RMB 3,876,000 compared to the previous year, with selling and distribution expenses accounting for about 117.0% of total revenue[30] - Administrative expenses were approximately RMB 12,209,000, a decrease of about 41.4% or approximately RMB 8,656,000 compared to the previous year, primarily due to reduced personnel costs influenced by the pandemic and related policies[31] Assets and Liabilities - As of June 30, 2022, the group's cash and bank balances were approximately RMB 1,476,000, down from RMB 1,941,000 as of December 31, 2021[36] - The total borrowings as of June 30, 2022, amounted to approximately RMB 284,541,000, compared to RMB 274,250,000 as of December 31, 2021[36] - Current liabilities increased to RMB 515,968,000 as of June 30, 2022, from RMB 474,171,000 at the end of 2021, indicating a rise in short-term financial obligations[64] - The total assets of the group as of June 30, 2022, were RMB 223,601,000, down from RMB 243,372,000 as of December 31, 2021, indicating a decrease of approximately 8.1%[79] - The total liabilities increased to RMB 632,837,000 as of June 30, 2022, compared to RMB 595,840,000 as of December 31, 2021, reflecting an increase of about 6.2%[79] Management and Governance - A new management team has been appointed, and a four-year packaging management agreement has been established with a partner, expected to generate revenue starting in early 2024[10] - The company has adopted the corporate governance code as per the listing rules, ensuring compliance with governance standards[59] - The audit committee, consisting of three independent non-executive directors, has reviewed the interim financial statements, ensuring proper disclosure and compliance with applicable accounting standards[61] Future Outlook and Strategies - The group expects to start generating revenue from its IT solutions business in early 2024, following a partnership with Guangdong Sofu Health Technology Group Co., Ltd. to provide IT solutions related to its mobile application[15] - The group plans to focus on high-end packaging market opportunities and reduce resources allocated to mobile game development, while seeking new business opportunities to diversify risks[42] - The company is negotiating with creditors for debt restructuring and refinancing to meet its operational and financial needs[72] - The company is considering various alternatives to strengthen its capital base, including seeking new investments and business opportunities[72] Key Metrics and Shareholder Information - Major shareholders include Zheng Xuexia with a 30.16% stake and Wealthy Achievers Limited with an 11.00% stake, indicating concentrated ownership[56] - The basic and diluted loss per share for the six months ended June 30, 2022, was RMB 0.0335, compared to RMB 0.0377 for the same period in 2021, indicating a decrease in loss per share by approximately 5.6%[95] - The total remuneration for key management personnel was RMB 107,000, significantly down from RMB 2,606,000 in the previous year, indicating a reduction of 95.9%[113]

Financial Performance - The total revenue for the year ended December 31, 2022, was RMB 4,084,000, a significant decrease of 97.76% compared to RMB 182,553,000 in 2021[4] - Gross profit for the year was RMB 2,707,000, down 82.00% from RMB 15,042,000 in the previous year[4] - The operating loss for the year was RMB 163,278,000, compared to an operating loss of RMB 107,996,000 in 2021, representing an increase in losses of 51.00%[4] - The net loss for the year was RMB 263,049,000, which is an increase of 38.67% from RMB 189,934,000 in 2021[4] - The company reported a significant increase in inventory write-downs, totaling RMB 105,845,000 for the year[4] - The basic loss per share for the year was RMB (19.10), compared to RMB (13.79) in 2021, indicating a worsening of the loss per share[4] - The group reported a net loss of approximately RMB 263,049,000 for the year ended December 31, 2022[16] - The company reported a pre-tax loss of RMB 263,049,000 for 2022, compared to a pre-tax loss of RMB 189,934,000 in 2021, indicating an increase in losses of about 38.67%[30] - The total liabilities increased to RMB 730,615,000 in 2022 from RMB 595,840,000 in 2021, marking an increase of about 22.61%[30] - The company did not declare any dividends for the years ended December 31, 2022, and 2021[36] Assets and Liabilities - Total assets decreased to RMB 17,125,000 from RMB 121,669,000 in the previous year, indicating a decline of 85.90%[5] - Trade receivables decreased to RMB 13,000 from RMB 60,011,000, reflecting a decline of 78.42%[5] - The company’s total liabilities increased to RMB 730,615,000 from RMB 595,840,000, representing an increase of 22.56%[5] - As of December 31, 2022, the group's current liabilities exceeded its current assets by approximately RMB 713,490,000, resulting in a net debt of about RMB 664,878,000[16] - The total overdue principal and related interest amounted to approximately RMB 293,842,000 and RMB 389,902,000 respectively, as of December 31, 2022[16] - The group had cash and cash equivalents of approximately RMB 2,000, insufficient to repay the overdue borrowings and related interest[17] Operational Challenges - The company has faced operational challenges since the suspension of its shares on September 1, 2022, and has appointed a new board and management team in early 2023 to review its financial situation[56] - The company has outstanding bank loans of RMB 32,000,000 and RMB 12,000,000 that were due in June 2021 and April 2022 respectively, which have not been repaid[57] - The company has also failed to pay approximately RMB 1,800,000 in salaries to 38 employees, which is part of its ongoing legal issues[57] - The company is committed to resolving all issues left by the previous management team to restore operations in Jiangxi Province[61] Business Segments - The group operates two business segments: manufacturing and sales of paper packaging products, and development, distribution, and operation of leisure products[21] - The company’s largest customer contributed approximately RMB 1,524,000 to the revenue from the manufacturing and sales of paper packaging products in 2022, compared to RMB 9,925,000 in 2021[29] - The packaging division's revenue from flexo-printed boxes was approximately RMB 1,400,000 in 2022, down from RMB 61,300,000 in 2021, accounting for 34.4% of total revenue[75] - The revenue from the corrugated printed box division was approximately RMB 2,600,000 in 2022, down from RMB 120,700,000 in 2021, representing about 65.6% of total revenue[76] - The information technology solutions division's revenue dropped to zero in 2022, a decrease of 100% compared to RMB 569 in 2021[70] Corporate Governance - The board is committed to maintaining high standards of corporate governance to enhance investor confidence and maximize shareholder returns[105] - The company has adopted the corporate governance code as per Appendix 14 of the listing rules, ensuring compliance with increasingly stringent regulatory requirements[107] - The board of directors is responsible for leading and monitoring the company's business, strategic decisions, internal controls, and risk management systems[108] - The company has implemented a board diversity policy, considering various aspects such as gender, age, cultural background, and professional experience[111] - The company encourages all directors to participate in continuous professional development programs to enhance their knowledge and skills[121] Financial Reporting Standards - The company has adopted revised Hong Kong Financial Reporting Standards this year, which include significant updates to accounting policies[9] - The financial statements are prepared in Renminbi (RMB), with amounts rounded to the nearest thousand RMB, reflecting the company's operational currency[8] - The company anticipates that the newly issued but not yet effective financial reporting standards will not have a significant impact on the consolidated financial statements in the foreseeable future[11] - The management has made significant judgments regarding the application of the Hong Kong Financial Reporting Standards, which may lead to substantial adjustments in estimates for the next fiscal year[12] Future Plans and Strategies - The company aims to explore new business opportunities, including the packaging business in Hong Kong, which is expected to continue stable growth[60] - The company plans to develop its information technology solutions segment by engaging in shared massage chair services at airports and train stations in collaboration with a Chinese company[60] - The group is negotiating with creditors for debt restructuring and/or refinancing to meet upcoming operational and financial needs[18] - The group is considering various alternatives to strengthen its capital base, including seeking new investments and business opportunities[18] Audit and Compliance - The independent auditor did not express an opinion on the financial statements due to significant uncertainties regarding the company's ability to continue as a going concern[161] - The audit committee, consisting of three independent non-executive directors, reviewed the consolidated financial statements for the year ending December 31, 2022[160] - The company has adopted the standard code of conduct as per the listing rules, confirming compliance throughout the year ended December 31, 2022[122]

Revenue and Business Operations - For the six months ended June 30, 2023, the packaging business generated zero revenue due to operational suspension in Jiangxi Province[14]. - The information technology solutions business also reported zero revenue for the six months ended June 30, 2023[18]. - The company's revenue for the review period was RMB 0, a decrease of approximately RMB 4,084,000 or 100.0% compared to the same period last year, primarily due to the suspension of packaging operations in Jiangxi Province[19]. - Total revenue for the six months ended June 30, 2023, was RMB 4,084,000, with no revenue from mobile game products reported[75]. - The company anticipates earning no less than HKD 4,600,000 from three agreements signed with Hong Kong companies in January 2024 to expand its packaging services[13]. - The company has entered into a packaging entrustment agreement with Haoyunlai Development Group, expected to generate revenue starting in early 2024, with a four-year term[12]. - The company has partnered with Suofe Health Technology Group to provide IT solutions related to mobile applications, expecting to generate revenue in early 2024[17]. Financial Performance - The gross profit for the review period was RMB 0, a decline of approximately RMB 367,000 or 100.0% compared to the same period last year, with the gross profit margin dropping from about 9.0% to 0.0%[25][26]. - Other income for the review period was RMB 0, a decrease of approximately RMB 224,000 or 100.0% compared to the same period last year, mainly due to no revenue from waste paper sales and rental income[27]. - The net loss for the review period was approximately RMB 13,552,000, compared to a net loss of approximately RMB 46,214,000 in the same period last year[33]. - The company incurred a pre-tax loss of RMB 13,552,000, compared to a pre-tax loss of RMB 46,214,000 in the previous year, indicating an improvement of approximately 70%[61]. - The total comprehensive loss for the period was RMB 41,690,000, down from RMB 56,768,000 in the same period last year, reflecting a reduction of about 27%[61]. - The company reported a pre-tax loss of RMB 13,552,000 for the six months ended June 30, 2023, compared to a pre-tax loss of RMB 46,214,000 for the same period in 2022, indicating a significant improvement[93]. Expenses and Cost Management - Administrative expenses for the review period were approximately RMB 5,681,000, a decrease of about 53.5% or RMB 6,528,000 compared to the same period last year, mainly due to reduced personnel costs from the suspension of operations[30]. - Financing costs decreased to approximately RMB 7,871,000 from RMB 48,874,000 in the same period last year, a reduction of about RMB 41,003,000 due to a decrease in loan principal[31]. - Employee costs for the six months ended June 30, 2023, totaled RMB 11,472,000, a decrease from RMB 11,472,000 in the previous year[6]. - The company is implementing cost control measures to achieve positive cash flow from operations[70]. Assets and Liabilities - As of June 30, 2023, total borrowings amounted to approximately RMB 304,177,000, an increase from approximately RMB 293,841,000 as of December 31, 2022[34]. - Current liabilities increased to RMB 766,916,000 from RMB 730,615,000 at the end of 2022, indicating a rise of approximately 5%[63]. - Total liabilities increased to RMB 766,916,000 as of June 30, 2023, compared to RMB 730,615,000 as of December 31, 2022[77]. - The company’s total equity attributable to owners decreased to RMB (706,568,000) as of June 30, 2023, from RMB (664,878,000) at the end of 2022[63]. - The company has outstanding overdue acceptances and convertible bonds amounting to approximately RMB 147,942,000 and RMB 6,165,000, respectively, with a default annual interest rate of 22%[104]. Management and Strategic Focus - A new management team has been appointed to explore potential opportunities in the information technology market since 2023[17]. - The company plans to reduce resources allocated to its mobile gaming business due to increased competition and regulatory restrictions in China[15]. - The group plans to focus on high-end packaging business opportunities, expecting higher profit margins[42]. - The company is actively seeking new market opportunities in Hong Kong following the management transition in early 2023[12]. Audit and Governance - The company has established an audit committee to oversee financial reporting and internal controls, consisting of three independent non-executive directors[59]. - The board does not recommend an interim dividend for the six months ended June 30, 2023[46]. - The company did not declare any dividends for the six months ended June 30, 2023, consistent with the previous year[91]. Credit and Receivables - Trade receivables as of June 30, 2023, were approximately RMB 435,000, consistent with December 31, 2022[39]. - Trade receivables aged over 365 days amounted to RMB 189,000 as of June 30, 2023, compared to RMB 435,000 as of December 31, 2022, showing a decrease in older receivables[98]. - The company is negotiating repayment schedules with several debtors to recover trade receivables[70]. - The company has not provided any collateral or credit enhancements for its trade receivables[99]. Capital and Financing - The company is considering various alternatives to strengthen its capital base, including seeking new investments and business opportunities[70]. - The group is negotiating with creditors for loan restructuring and refinancing to meet operational and financial needs[41]. - The company has pledged assets with a carrying value of approximately RMB 36,894,000 as collateral for bank borrowings[50].

Financial Performance - For the year ended December 31, 2022, the company reported total revenue of RMB 4,084,000, a significant decrease of 97.76% compared to RMB 182,553,000 in 2021[4] - The gross profit for the year was RMB 2,707,000, down 82.00% from RMB 15,042,000 in the previous year[4] - The operating loss increased to RMB 163,278,000, compared to a loss of RMB 107,996,000 in 2021, reflecting a 51.00% increase in losses[4] - The net loss for the year was RMB 263,049,000, which is a 38.67% increase from RMB 189,934,000 in 2021[4] - The basic loss per share for the year was RMB 19.10, compared to RMB 13.79 in 2021, indicating a worsening financial position[4] - The group reported a net loss of approximately RMB 263,049,000 for the year ended December 31, 2022[16] - The company reported a pre-tax loss of RMB 263,049,000 for 2022, compared to a pre-tax loss of RMB 189,934,000 in 2021, indicating an increase in losses of about 38.67%[30] - The group recorded a net loss of approximately RMB 263 million for the year ended December 31, 2022, compared to a net loss of approximately RMB 189.9 million in 2021[87] Assets and Liabilities - Total assets decreased to RMB 17,125,000 from RMB 121,669,000 in the previous year, indicating a decline of 85.90%[5] - The company’s total liabilities increased to RMB 730,615,000 from RMB 595,840,000, reflecting a rise of 22.61%[5] - As of December 31, 2022, the group's current liabilities exceeded its current assets by approximately RMB 713,490,000, resulting in a net debt of approximately RMB 664,878,000[16] - The total overdue principal and related interest amounted to approximately RMB 683,744,000 as of December 31, 2022, compared to RMB 540,649,000 in 2021[16] - The group had cash and cash equivalents of approximately RMB 2,000, insufficient to repay the overdue borrowings and related interest[17] - As of December 31, 2022, the group's total borrowings amounted to approximately RMB 293.8 million, an increase from RMB 274.3 million in 2021[90] Inventory and Receivables - The company reported a significant increase in inventory write-downs, amounting to RMB 105,845,000, which was not present in the previous year[4] - Trade receivables decreased to RMB 13,000 from RMB 60,011,000, a decline of 78.42%[5] - Trade receivables dropped sharply from RMB 79,082,000 in 2021 to RMB 435,000 in 2022, reflecting a significant reduction in outstanding invoices[39] - As of December 31, 2022, the company reported inventory amounts of approximately RMB 51,961,000 and RMB 995,000 for the years 2021 and 2022 respectively, with an impairment loss of RMB 105,845,000 recognized for the year ending December 31, 2022[53] Corporate Governance - The board is committed to maintaining high standards of corporate governance to enhance investor confidence and maximize shareholder returns[105] - The company has adopted the corporate governance code as per Appendix 14 of the listing rules, ensuring compliance with increasingly stringent regulatory requirements[107] - The board of directors is responsible for leading and monitoring the company's business, strategic decisions, internal controls, and risk management systems[108] - The company has implemented a board diversity policy, considering various aspects such as gender, age, cultural background, and professional experience[111] - The company has established three committees under the board: Audit Committee, Nomination Committee, and Remuneration Committee, to oversee specific aspects of the company's affairs[125] Future Outlook and Strategies - The group is negotiating with creditors for debt restructuring and/or refinancing to meet upcoming operational and financial needs[18] - The group is considering various alternatives to strengthen its capital base, including seeking new investments and business opportunities[18] - The company is exploring new business opportunities, including packaging services in Hong Kong, which is expected to contribute to stable growth[60] - The group plans to reduce resources allocated to the mobile gaming business due to intense competition and increased regulations in China[68] - The group has partnered with Guangdong Sofu Health Technology Group to provide IT solutions, expecting to generate revenue from this division in early 2024[69] Audit and Compliance - The independent auditor did not express an opinion due to significant uncertainties regarding the company's ability to continue as a going concern[161] - The audit committee communicated with the auditor regarding the significant uncertainties and agreed that these matters are non-recurring[163] - The company’s consolidated financial statements for the year ending December 31, 2022, were reviewed and deemed compliant with applicable accounting standards and regulations[160] Employee and Operational Costs - Employee costs decreased significantly from RMB 35,781,000 in 2021 to RMB 11,516,000 in 2022, primarily due to reduced wages and benefits[33] - Selling and distribution expenses decreased by 65.7% to approximately RMB 4.8 million from RMB 14.1 million in 2021, mainly due to reduced promotional and transportation costs[85] - Administrative expenses decreased by 56.1% to approximately RMB 19.4 million from RMB 44.1 million in 2021, primarily due to reduced administrative staff costs[86] Revenue Breakdown - The packaging division's revenue from flexo-printed boxes was approximately RMB 1,400,000 in 2022, down from approximately RMB 61,300,000 in 2021, accounting for 34.4% of total revenue[75] - The revenue from the corrugated printed box division was approximately RMB 2,600,000 in 2022, down from approximately RMB 120,700,000 in 2021, representing about 65.6% of total revenue[76] - The information technology solutions division's revenue decreased to zero in 2022, a reduction of 100% compared to RMB 569,000 in 2021[70] - Revenue from food and beverage manufacturers reached RMB 28 million for the year ended December 31, 2022, accounting for approximately 69.6% of the packaging segment revenue, up from 29.3% in 2021[78]

Revenue Performance - The packaging business revenue decreased by 96.8% to approximately RMB 4,084,000, down from approximately RMB 127,596,000 in the same period last year, accounting for 100.0% of the group's total revenue[12] - The group reported a revenue of approximately RMB 4,084,000 for the review period, a decrease of about RMB 124,081,000 or approximately 96.8% compared to the same period last year[21] - Revenue from food and beverage producers accounted for approximately RMB 2,842,000, representing 69.6% of the packaging business revenue, a significant increase from 22.8% in the previous year[26] - The packaging business generated revenue of RMB 4,084,000, with the sales of flexo-printed cartons contributing RMB 1,405,000 (34.4% of total revenue) and traditional cartons contributing RMB 1,436,000 (35.2% of total revenue)[23] - The revenue from the manufacturing and sales of paper packaging products for the six months ended June 30, 2022, was RMB 4,084,000, a significant decrease of 96.8% compared to RMB 127,596,000 for the same period in 2021[81] - The group anticipates generating no revenue from the mobile gaming segment, reflecting a 100% decrease, which accounted for approximately 0.0% of total revenue[18] - The company reported no revenue from the development, distribution, and operation of mobile game products for the six months ended June 30, 2022, compared to RMB 569,000 for the same period in 2021[81] Financial Performance - The overall gross profit decreased by approximately RMB 16,568,000 or about 97.8% to approximately RMB 367,000, with a gross profit margin decline from 13.2% to 9.0%[29] - Gross profit for the six months ended June 30, 2022, was RMB 367,000, down from RMB 16,935,000 in 2021, indicating a significant decrease in profitability[67] - The gross profit for flexible printed boxes was approximately RMB 96,000, a decrease of about 96.9% compared to RMB 3,071,000 in the same period last year[30] - The gross profit margin for corrugated printed boxes fell from approximately 16.2% to about 10.1%, attributed to rising raw material costs[30] - The gross profit for the IT solutions business dropped from approximately RMB 470,000 to RMB 0, resulting in a gross profit margin decline from about 82.6% to 0.0% due to reduced revenue from mobile gaming[30] - The net loss for the period was approximately RMB 46,214,000, an improvement from a net loss of approximately RMB 51,912,000 in the same period last year[38] - The total comprehensive loss for the period was RMB 56,768,000, compared to RMB 61,276,000 in the previous year, reflecting a reduction of about 7.5%[67] - The company incurred employee costs of RMB 11,472,000 for the six months ended June 30, 2022, a decrease of 43.6% from RMB 20,357,000 for the same period in 2021[92] Operational Challenges - The ongoing COVID-19 pandemic has negatively impacted the global economy, severely affecting the group's packaging operations located in Jiangxi Province[13] - The group has suspended operations in its Jiangxi packaging business due to overdue payments totaling approximately RMB 44,000,000[14] - Current liabilities exceeded current assets by RMB 515,968,000 as of June 30, 2022, indicating a challenging liquidity position[68] - The company has significant uncertainty regarding its ability to continue as a going concern, dependent on its ability to repay or refinance its debts and generate sufficient cash flow[80] Cost Management - Sales and distribution expenses were approximately RMB 4,780,000, a decrease of about 44.8% from RMB 8,656,000 in the previous year, with expenses accounting for approximately 117.0% of total revenue[34] - Administrative expenses decreased by approximately 41.4% to about RMB 12,209,000 from RMB 20,865,000 in the previous year, mainly due to reduced personnel costs influenced by the pandemic[35] - The company is implementing cost control measures to achieve positive cash flow from operations[76] Future Plans and Opportunities - The group plans to continue its existing packaging business while expanding into the shared massage chair business in China to further develop its IT solutions business[12] - The group is exploring potential opportunities in the information technology solutions market, expecting to earn revenue from a partnership with Guangdong Suofe Health Technology Group in early 2024[19] - The company plans to focus on high-end packaging market opportunities and reduce resources allocated to mobile game development, while exploring new industries for IT solutions to diversify business risks[46] Capital and Assets - As of June 30, 2022, inventory was approximately RMB 106,821,000, up from RMB 51,961,000 as of December 31, 2021[42] - The total assets as of June 30, 2022, were RMB 223,601,000, down from RMB 243,372,000 as of December 31, 2021, reflecting a decrease of 8.1%[83] - The total liabilities as of June 30, 2022, were RMB 632,837,000, an increase of 6.2% from RMB 595,840,000 as of December 31, 2021[83] - The company has pledged assets with a book value of approximately RMB 78,158,000 as collateral for bank borrowings, down from RMB 94,400,000 as of December 31, 2021[54] Shareholder and Governance - The major shareholders included Zhanliang with approximately 29.62% and Zheng Xuexia with approximately 30.16% of the shares[60] - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2022, consistent with the previous year[50] - The company confirmed compliance with the corporate governance code during the review period, although the board composition did not fully meet certain listing rules[63] - The audit committee, consisting of three independent non-executive directors, reviewed the interim financial statements for the six months ended June 30, 2022[65]