Core Viewpoint - The company, Beijing Investment Transportation Technology (01522), announced the potential sale of its 49% stake in the joint venture, Metro Technology, to an independent third party, Metro Company, for a final transaction price of RMB 68.33 million (approximately HKD 74.21 million) [1][2] Group 1 - The purpose of establishing Metro Technology was to improve the maintenance and repair of Beijing's automatic ticketing system, enhance the operational safety of related equipment, and expand revenue sources to improve financial performance [1] - Since its establishment, the company has continuously received investment returns from Metro Technology; however, recent operational growth has not met expectations, prompting a strategic focus on core business [1] - The board believes that the sale will not have a significant impact on the company and considers the terms of the sale and the property transaction contract to be fair and reasonable, aligning with the overall interests of the company and its shareholders [1] Group 2 - To ensure that the company's business is not affected by the sale, Metro Technology has committed not to engage in new business operations related to automatic ticketing and passenger information systems in Beijing or elsewhere in China in the future [2]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 1,656,773,000, a slight increase of 1.5% compared to HKD 1,637,181,000 in 2023[4] - Gross profit for 2024 was HKD 619,687,000, representing a gross margin of approximately 37.4%, up from HKD 591,007,000 in 2023[4] - Operating profit increased to HKD 201,875,000 in 2024, compared to HKD 185,217,000 in 2023, reflecting a growth of 9.0%[4] - The net profit for the year was HKD 179,507,000, a decrease of 3.6% from HKD 185,728,000 in the previous year[4] - Basic and diluted earnings per share for 2024 were HKD 0.080, down from HKD 0.083 in 2023[4] - The company reported a total comprehensive income of HKD 171,511,000 for the year, compared to HKD 119,245,000 in 2023, indicating a significant increase[6] Assets and Liabilities - Total assets increased to HKD 3,257,328,000 in 2024 from HKD 2,948,095,000 in 2023, representing a growth of approximately 10.4%[7] - Non-current assets decreased slightly to HKD 1,599,956,000 in 2024 from HKD 1,586,428,000 in 2023, a decline of about 0.8%[7] - Current assets rose to HKD 1,657,372,000 in 2024, up from HKD 1,361,667,000 in 2023, marking an increase of approximately 21.7%[7] - Total liabilities increased to HKD 316,385,000 in 2024 from HKD 69,246,000 in 2023, a significant rise of approximately 356.5%[8] - The company's equity attributable to shareholders increased to HKD 2,775,601,000 in 2024 from HKD 2,707,818,000 in 2023, reflecting a growth of about 2.5%[8] Revenue Segmentation - Revenue from the Smart Passenger Information Services segment was HKD 755,912,000 in 2024, down from HKD 770,937,000 in 2023, indicating a decrease of about 1.5%[16] - The Smart Infrastructure segment generated revenue of HKD 385,272,000 in 2024, significantly up from HKD 288,812,000 in 2023, marking an increase of around 33.5%[16] - The group’s revenue from Data and Integration Services was HKD 515,589,000 in 2024, down from HKD 577,432,000 in 2023, representing a decrease of approximately 10.7%[16] - Revenue from customers in mainland China accounted for HKD 1,596,171,000 in 2024, compared to HKD 1,561,723,000 in 2023, reflecting a growth of approximately 2.2%[24] Research and Development - Research and development expenses for the year were HKD 159,599,000, slightly reduced from HKD 170,762,000 in 2023[4] - The group’s research and development expenses for 2024 were approximately HKD 159.6 million, a decrease of about 6.6% due to improved R&D efficiency[53] - The group obtained 29 new patents and 77 software copyrights during the year, bringing the total to 149 patents and 645 software copyrights[80] Market Expansion and Strategy - The company aims to expand its market presence and enhance product offerings in the upcoming fiscal year[2] - The group expanded its market presence to cover 55 cities in mainland China and 32 cities in 20 overseas countries and regions by the end of 2024[47] - The company is actively expanding its international business, with a focus on replicating successful industry models in more "Belt and Road" countries, as global urban rail transit operating mileage is projected to exceed 45,000 kilometers by 2025[83] Dividend and Shareholder Information - The proposed final dividend for 2024 is HKD 50,332,000, with a dividend per share of HKD 0.024, compared to HKD 52,429,000 and HKD 0.025 in 2023[41] - The final dividend is subject to approval at the annual general meeting scheduled for June 19, 2025[96] Compliance and Governance - The company has adhered to corporate governance principles throughout the fiscal year 2024[94] - The audit committee held five meetings during the fiscal year 2024, reviewing significant financial performance and compliance issues[90] Employee Information - The company has 623 employees as of December 31, 2024, down from 647 in the previous year, with total employee costs approximately HKD 290.6 million, a decrease from HKD 297 million in the previous fiscal year[84] - The company has implemented a continuous optimization of its personnel structure, contributing to a reduction in employee costs[84] Other Financial Information - The financing costs decreased to HKD 9,884,000 in 2024 from HKD 10,456,000 in 2023, representing a decline of approximately 5.5%[25] - The total income from other sources decreased to HKD 21,790,000 in 2024 from HKD 38,538,000 in 2023, reflecting a decline of approximately 43.4%[23]

Z:\09. IR\160613 BII Railway IR24\Cover\BII IR23 Full Cover 2024 （於開曼群島註冊成立的有限公司） 股份代號：1522 2024 中期報告 行穩致遠 | --- | --- | |------------------------------|-------| | | | | | | | 目錄 | | | | | | 公司資料 | 2 | | 公司概覽 | 3 | | 管理層討論及分析 | 6 | | 其他資料 | 17 | | 釋義 | 22 | | 中期審閱報告 | 24 | | 簡明綜合損益表 | 25 | | 簡明綜合損益及其他全面收益表 | 26 | | 簡明綜合財務狀況表 | 27 | | 簡明綜合權益變動表 | 29 | | 簡明綜合現金流量表 | 30 | | 未經審核中期財務報告附註 | 31 | 公司資料 | --- | --- | |-------------------------------------------|-------------------------------| | | | | 董事會 | 本公司法律顧問 ...

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 468,982,000, a decrease of 1.5% compared to HKD 473,188,000 for the same period in 2023[2] - Gross profit for the same period was HKD 189,650,000, slightly up from HKD 188,375,000, indicating a marginal increase of 0.7%[2] - Operating profit surged to HKD 7,605,000, a significant increase from HKD 60,000 in the previous year, reflecting a substantial improvement in operational efficiency[2] - The net profit for the period was HKD 3,645,000, up 38.4% from HKD 2,632,000 in the prior year[3] - The total comprehensive income for the period was HKD (18,211,000), a significant improvement from HKD (77,020,000) in the same period last year[3] - The reported segment profit for the six months ended June 30, 2024, was HKD 189,650,000, up from HKD 188,375,000 in the previous year, indicating a marginal growth[15] - The total revenue for the twelve months ended June 30, 2024, was HKD 1,632,975,000, compared to HKD 1,538,279,000 for the twelve months ended June 30, 2023, representing an increase of approximately 6.1%[16] - The group’s profit attributable to equity shareholders was approximately HKD 9.6 million, an increase of about 89.6% compared to the same period last year[40] Revenue Breakdown - Revenue from smart passenger information services decreased to HKD 167,374,000 for the six months ended June 30, 2024, down from HKD 243,942,000 in the same period of 2023, representing a decline of approximately 31.3%[10] - Revenue from data and integration services increased to HKD 165,240,000 for the six months ended June 30, 2024, up from HKD 143,247,000 in the same period of 2023, reflecting a growth of about 15.3%[10] - Revenue from smart infrastructure services rose to HKD 136,368,000 for the six months ended June 30, 2024, compared to HKD 85,999,000 in the same period of 2023, indicating an increase of approximately 58.5%[10] - Revenue from mainland China accounted for HKD 455,541,000, an increase from HKD 448,096,000 in the same period of 2023, showing a growth of approximately 1.0%[10] - Revenue from Hong Kong was HKD 10,979,000, up from HKD 9,802,000 in the same period of 2023, representing an increase of about 12.0%[10] - Revenue from overseas markets decreased to HKD 2,462,000, down from HKD 15,290,000 in the same period of 2023, reflecting a decline of approximately 83.9%[10] Expenses and Costs - Research and development expenses decreased to HKD 83,119,000 from HKD 88,865,000, showing a reduction of 6.2%[2] - The company’s total income tax expense for the six months ended June 30, 2024, was HKD 6,122,000, compared to HKD 6,917,000 for the same period in 2023, representing a decrease of about 11.5%[19] - The company’s total other income for the six months ended June 30, 2024, was HKD 8,060,000, down from HKD 13,995,000 in the previous year, reflecting a decrease of approximately 42.3%[15] - The group’s sales, general and administrative expenses amounted to approximately HKD 106.1 million, a decrease of about HKD 4.1 million or 3.7% compared to the same period last year, mainly due to cost reduction measures implemented by the group[36] - The financing costs for the six months ended June 30, 2024, were HKD 4,599,000, a decrease from HKD 5,293,000 in the previous year, reflecting a decline of approximately 13.1%[17] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 2,981,629,000, compared to HKD 2,922,255,000 at the end of 2023, representing an increase of 2.0%[4] - The company’s non-current assets totaled HKD 1,570,269,000, a decrease from HKD 1,586,428,000 at the end of 2023, reflecting a decline of 1.0%[4] - The company reported a basic and diluted earnings per share of HKD 0.0046, up from HKD 0.0024 in the previous year, marking an increase of 91.7%[2] - Contract assets as of June 30, 2024, amounted to HKD 764,537,000, an increase from HKD 714,262,000 as of December 31, 2023[21] - Trade receivables and notes receivable, net of loss provisions, totaled HKD 922,208,000 as of June 30, 2024, down from HKD 1,069,749,000 as of December 31, 2023[25] - Trade payables and notes payable were HKD 968,478,000 as of June 30, 2024, compared to HKD 916,512,000 as of December 31, 2023[27] - The company’s contract liabilities from service contracts increased to HKD 95,919,000 as of June 30, 2024, from HKD 45,800,000 as of December 31, 2023[21] Corporate Governance and Compliance - The group has not applied any new standards or amendments that have not yet come into effect during the reporting period, indicating stability in accounting practices[8] - The group operates four reportable segments: smart passenger information services, data and integration services, smart infrastructure, and investment in business expansion[11] - The group’s management does not provide separate asset and liability information for operational segments, focusing instead on revenue and expenses for performance evaluation[12] - The company has established a securities trading code for directors and employees, ensuring compliance with trading regulations[63] - The Audit Committee has been established in accordance with listing rules and consists of three independent non-executive directors as of June 30, 2024[65] - The interim financial report for the six months ending June 30, 2024, has been reviewed by the independent auditor and complies with applicable accounting standards and listing rules[67] - The company confirms adherence to the Corporate Governance Code as of June 30, 2024[68] Strategic Developments - The group signed new contracts and won bids amounting to approximately RMB 830 million in the first half of the year, with a backlog of approximately HKD 2.77 billion as of June 30, 2024, representing a growth of about 9.5% from the end of 2023[32] - The group successfully signed the Beijing Metro AFC 2.0 system project, enhancing user engagement through optimized service content[49] - The group successfully signed the Daxing Airport expressway smart control platform upgrade project, marking its entry into the fire protection field[51] - The group actively explored new growth points by integrating and optimizing existing business models, focusing on four value-added business development directions[50] - The group has launched 8 innovative products across three major business segments, enhancing the precision of passenger information services and smart maintenance management platforms[56] - The group plans to deepen its "3+2" business layout and enhance management levels to ensure timely and quality project completion while expanding market reach domestically and internationally[58] Market and Economic Context - In the first half of the year, China's GDP grew by approximately 5.0%, with infrastructure investment increasing by about 7.2% compared to the same period last year, indicating a positive trend for the rail transit industry[57] - The number of approved urban rail projects increased by 2 compared to the same period last year, totaling 13 lines and approximately 612.2 kilometers, providing ample market space for long-term development in the rail transit sector[57]

Financial Performance - The company achieved a revenue of approximately HKD 1,637.2 million in 2023, a slight decrease of 0.1% compared to HKD 1,638.9 million in 2022[31]. - Gross profit for 2023 was HKD 591.0 million, showing a marginal increase from HKD 586.3 million in 2022[31]. - The profit attributable to equity shareholders was approximately HKD 174.3 million, down from HKD 179.3 million in the previous year, representing a decrease of 0.5%[31]. - The company proposed a dividend of HKD 0.025 per share, totaling approximately HKD 52.4 million, with a payout ratio of 30.2%[31]. - The gross profit margin for 2023 was approximately 36.1%, reflecting an increase of about 0.3 percentage points year-on-year[41]. - The company's net profit attributable to equity shareholders was approximately HKD 174.3 million, a decrease of about 2.8% year-on-year, but an increase of approximately 1.6% in RMB terms[41]. - The company reported a net profit margin of 10.65% and a return on equity of 6.60% for the fiscal year[102]. - The company maintained a dividend payout ratio of at least 30% in the medium to long term, based on strategic planning and business development considerations[100]. Market Expansion and Strategy - The company has expanded its business coverage to 28 provinces, municipalities, and special administrative regions in China, and 16 countries and regions overseas, totaling 54 cities domestically and 26 cities internationally[11]. - The company’s market strategy emphasizes deepening its presence in the domestic market while exploring international opportunities[11]. - The company achieved significant market expansion, with notable growth in both domestic and international markets[11]. - The company is focused on accelerating the implementation of its "14th Five-Year" strategic plan in 2024, emphasizing smart, low-carbon, and independent development trends[33]. - The company is targeting a diversified layout in the rail transit sector while expanding into non-rail industries[82]. - The company is actively exploring smart applications in integrated transportation hubs through its associate company, Jingzhi Network Technology, laying the foundation for future market order expansion[69]. Research and Development - The company holds 120 software copyrights and 568 patents as of the end of 2023[16]. - Research and development expenses for 2023 were approximately HKD 170.8 million, reflecting a growth of about 7.0% year-on-year due to enhanced R&D efforts[48]. - The company has established a two-tier R&D system, focusing on core technology and engineering applications, enhancing innovation capabilities and R&D efficiency[75]. - The company participated in the national-level demonstration project for the "Next Generation Intelligent Train Operation System and Platform," innovating a basic platform and a vehicle-mounted edge cloud platform based on industrial internet[75]. - The company is committed to maintaining high levels of R&D investment to enhance its core technology capabilities in response to rapid technological advancements[94]. Operational Highlights - The company provides a full lifecycle system solution for rail transit development, integrating technology and innovation[7]. - The company’s core business includes smart passenger information services, data and integration services, and smart infrastructure[9]. - Revenue from smart passenger information services was approximately HKD 770.9 million, an increase of about 3.9% year-on-year[42]. - Revenue from data and integration services decreased by approximately 12.8% to HKD 577.4 million, primarily due to the completion of significant projects in the previous fiscal year[44]. - Revenue from smart infrastructure services increased by approximately 23.0% to HKD 288.8 million, driven by the growth of "smart +" business initiatives[44]. Awards and Recognition - The company has received several awards in 2023, including a second prize for traffic industry equipment management and technology innovation[17]. - The company maintained its leading market share in the domestic market for the eighth consecutive year in the smart passenger information service sector[29]. Employee and Corporate Governance - As of December 31, 2023, the group had 647 employees, down from 744 in 2022, with total employee costs approximately HKD 297 million, a decrease from HKD 323 million in the previous fiscal year[88]. - The company actively enhances its human resources system and corporate culture, focusing on employee rights and providing quality training and career development opportunities[156]. - The company has received confirmations of independence from all independent non-executive directors for the fiscal year 2023, and they are still considered independent[150]. Financial Position and Assets - Non-current assets increased to HKD 1,586.4 million in 2023 from HKD 1,561.2 million in 2022, reflecting a growth of 1.5%[31]. - Total assets rose to HKD 4,508.7 million in 2023, compared to HKD 4,403.8 million in 2022, marking an increase of 2.4%[31]. - The cash and cash equivalents as of December 31, 2023, were approximately HKD 697.1 million, down from approximately HKD 808.7 million as of December 31, 2022[54]. - The group had total loans of HKD 331.4 million as of December 31, 2023, a decrease from approximately HKD 383.9 million as of December 31, 2022[55]. - The current ratio as of December 31, 2023, was approximately 1.9, down from 2.1 as of December 31, 2022[57]. Shareholder Information - The board proposed a final dividend of HKD 0.025 per share for the fiscal year 2023, compared to HKD 0.026 per share in fiscal year 2022[89]. - The total amount for the proposed final dividend is approximately HKD 52.43 million[100]. - The company will suspend share transfer registration from June 20 to June 26, 2024, to determine eligibility for attending the annual general meeting[137]. - As of December 31, 2023, major shareholders hold approximately 55.20% of the company's issued share capital, with 京投香港 and 京投公司 each owning 1,157,634,900 shares[163]. Compliance and Regulations - The 2023 fiscal year report indicates that the group has complied with relevant laws and regulations that significantly impact its business and operations[133]. - The company has confirmed compliance with the applicable disclosure requirements under Chapter 14A of the Listing Rules regarding related party transactions[196]. - The company has received an unqualified opinion from its auditor regarding the ongoing related party transactions[195].

Revenue Performance - The smart passenger information service business generated revenue of approximately HKD 770.9 million, an increase of about HKD 28.7 million or 3.9% compared to the same period last year, with a gross profit of approximately HKD 294.6 million, a decrease of about 13.0%[1]. - The group achieved revenue of approximately HKD 577.4 million in the data and integration services business, a decrease of about HKD 84.6 million compared to the same period last year, with a gross profit of approximately HKD 136.3 million, representing a year-on-year increase of about 10.6%[42]. - The smart infrastructure business generated revenue of approximately HKD 288.8 million, an increase of about HKD 54.1 million or 23.0% year-on-year, with a gross profit of approximately HKD 160.1 million, up about 28.5% year-on-year[43]. - Total revenue for the year ended December 31, 2023, was HKD 1,637,181, a slight decrease of 0.1% from HKD 1,638,948 in 2022[52]. - Revenue from Smart Passenger Information Services increased to HKD 770,937,000 in 2023 from HKD 742,217,000 in 2022, representing a growth of 3.7%[76]. - Revenue from Data and Integration Services decreased to HKD 577,432,000 in 2023 from HKD 662,014,000 in 2022, a decline of 12.8%[76]. - Revenue from Smart Infrastructure Services rose to HKD 288,812,000 in 2023 from HKD 234,717,000 in 2022, an increase of 23.1%[76]. - The group’s revenue from smart passenger information services was approximately HKD 770.9 million, an increase of about HKD 28.7 million or 3.9% year-on-year[124]. - In mainland China, the group achieved revenue of approximately HKD 1,561.7 million, remaining stable compared to the previous year[127]. - The overseas market revenue increased by approximately HKD 15.5 million, reflecting a growth of about 44.1% year-on-year, with significant projects in Mumbai and Pune contributing to this growth[127]. Project and Market Expansion - The group successfully secured key projects including the Beijing Metro Line 28 communication and automation integration project valued at approximately RMB 110 million, which is expected to provide stable business income[4]. - The group is focusing on expanding its market presence outside Beijing, achieving significant results in cities like Tianjin and Taiyuan through various project wins, including the Tianjin Metro Line 7 AFC equipment procurement project valued at approximately RMB 5.27 million[4]. - The group secured new contracts in key markets such as Shenzhen, Guangzhou, and Suzhou, maintaining its industry-leading position, with overseas market expansion achieving a year-on-year doubling of new orders[41]. - The group expanded its market presence, entering new cities in mainland China and overseas, covering a total of 54 cities in China and 26 cities in 16 countries and regions[123]. Research and Development - The group emphasizes R&D and innovation, achieving breakthroughs in core technology development and promoting the integration of internal research resources to enhance innovation capabilities and R&D efficiency[11]. - In 2023, the company invested approximately HKD 170.8 million in R&D, representing a year-on-year increase of about 7.0%[25]. - The company obtained 20 new patents during the year, bringing the total to 120, and 56 software copyrights, totaling 568[25]. - The company participated in the establishment of 8 national, local, and organizational standards, including a national standard for "Quality Acceptance of Urban Rail Transit Automatic Ticket Checking System," which has been published[25]. - The company has equipped 127 intelligent trains with intelligent analysis algorithms, capturing over 80% of the total installation market, significantly improving operational efficiency and safety in rail transit[24]. - The company developed a virtual customer service demo that integrates rail transit big model technology, aimed at reducing customer service costs[24]. - Research and development expenses increased to HKD 170,762,000 in 2023, up 7.5% from HKD 159,561,000 in 2022[52]. Financial Performance - Gross profit increased to HKD 591,007, up 0.1% from HKD 586,299 in the previous year[52]. - Operating profit rose to HKD 185,217, reflecting an increase of 7.0% compared to HKD 171,561 in 2022[52]. - Net profit for the year was HKD 185,728, a marginal increase from HKD 184,999 in 2022[52]. - Basic and diluted earnings per share decreased to HKD 0.083 from HKD 0.085 in the previous year[52]. - The group recorded a profit attributable to equity shareholders of approximately HKD 174.3 million, a decrease of about 2.8% year-on-year, with a corresponding RMB profit of approximately RMB 157.1 million, reflecting a growth of about 1.6%[122]. - The group’s total liabilities to total assets ratio as of December 31, 2023, was 36.2%, compared to 39.8% as of December 31, 2022[139]. Employee and Compensation - As of December 31, 2023, the group employed 647 staff members, with total employee costs amounting to approximately HKD 297 million, a decrease from HKD 323 million in the previous fiscal year[30]. - The total employee costs decreased to HKD 296,744,000 in 2023 from HKD 322,966,000 in 2022, reflecting a reduction of about 8.1%[92]. - The group is committed to optimizing its employee compensation structure based on performance and contributions, alongside providing professional training[32]. Strategic Initiatives - The group aims to enhance its strategic initiatives in 2024 by focusing on smart passenger information services and low-carbon products, following a "3+2" framework[29]. - The group is focusing on diversifying its product offerings and entering non-rail sectors to enhance its business portfolio[29]. - The integration of smart, low-carbon technologies in rail transit is becoming a consensus, with a growing market for digital transformation products[28]. - The group anticipates that the demand for maintenance and upgrades in the rail transit industry will create new growth points for its business[29]. Corporate Governance - The audit committee reviewed the group's financial performance and internal controls, holding four meetings in the fiscal year 2023[36]. - The board proposed a final dividend of HKD 0.025 per share for the fiscal year 2023, compared to HKD 0.026 per share for the fiscal year 2022, pending approval at the annual general meeting[47].

智通财经APP讯，京投交通科技(01522)发布公告，该公司董事会预期截至2023年12月31日止年度(本年度)人民币口径收入及年内溢利不会低于去年同期，整体业绩保持稳定。在上半年业绩承压的情况下，下半年集团积极拓展新业务，按期保质完成项目交付，实现全年整体经营目标。特别是在保障上述收入、年内溢利以及在手订单等核心指标稳定的基础上，公司大力开拓海外业务，新签海外订单大幅提升，同时，公司不断优化业务结构，提升盈利能力，整体毛利水平较去年稳中有增。 ...

Financial Performance - The company's revenue for the first half of 2023 was HKD 473,188,000, a decrease of approximately 17.6% compared to HKD 573,857,000 in the same period of 2022[16]. - The profit attributable to equity shareholders for the first half of 2023 was HKD 5,081,000, down 84.4% from HKD 32,552,000 in the first half of 2022[16]. - The earnings per share for the first half of 2023 was HKD 0.24, a decline of 84.5% compared to HKD 1.55 in the same period of 2022[16]. - The company achieved revenue of approximately HKD 473.2 million in the first half of 2023, a decrease of about 17.5% year-on-year[23]. - The company's net profit attributable to equity shareholders was approximately HKD 5.1 million, a decrease of about 84.4% compared to the previous year[35]. - The company reported a net profit for the six months ended June 30, 2023, of HKD 5,081,000, a decrease from HKD 32,552,000 in the same period of 2022, representing a decline of approximately 84.4%[107]. - The company reported a significant increase in trade and other receivables, totaling HKD 938,549,000, down from HKD 975,942,000 at the end of 2022[103]. - The company reported a total equity attributable to equity shareholders of HKD 2,447,350,000 as of June 30, 2023, down from HKD 2,519,300,000 as of June 30, 2022, representing a decrease of approximately 2.9%[107]. Profitability and Margins - The gross profit margin improved to 39.8% in the first half of 2023, compared to 32.6% in the same period of 2022[16]. - Gross profit margin increased by 7.2 percentage points to approximately 39.8%, with gross profit amounting to about HKD 188.4 million, an increase of approximately 0.8% year-on-year[23][31]. - Operating profit significantly decreased to HKD 60,000 from HKD 8,180,000 year-on-year[98]. - The total comprehensive expenses for the six months ended June 30, 2023, amounted to HKD 71,539,000, compared to a total of HKD 83,951,000 for the same period in 2022, indicating a reduction of about 14.9%[107]. Research and Development - The company holds 114 patents and 519 software copyrights, reflecting its commitment to innovation and technology development[14]. - Research and development expenses increased by approximately 15.4% to about HKD 88.9 million, reflecting the company's commitment to enhancing technological investment[33]. - R&D investment amounted to approximately HKD 88.9 million, representing a year-on-year increase of about 15.4%[55]. - The group actively promoted 25 R&D projects, including the construction of a new generation intelligent train operation system and platform demonstration project[55]. Business Expansion and Projects - The company has expanded its business coverage to 28 provinces, municipalities, and special administrative regions in China, and 15 countries and regions overseas[11]. - The company signed and won over 100 new projects with a total value of approximately RMB 550 million, with domestic projects accounting for about RMB 250 million, or 45%[24]. - The group signed over 60 new projects in the smart passenger information service sector, with a total value of approximately RMB 320 million[47]. - The group actively pursued projects in the Beijing metro, with a potential contract value of approximately RMB 110 million[49]. Financial Position and Assets - As of June 30, 2023, the company's order backlog was approximately HKD 2.34 billion, an increase of about 15.3% year-on-year but a decrease of about 8.6% compared to the end of 2022[24]. - The company's cash and bank balances as of June 30, 2023, were approximately HKD 700.1 million, down from HKD 808.7 million at the end of 2022[38]. - The company's total assets as of June 30, 2023, were HKD 5,210,979,000, a decrease from HKD 5,403,760,000 at the end of 2022[103]. - The company's total equity decreased to HKD 2,518,247,000 from HKD 2,649,793,000 at the end of 2022[105]. Cash Flow and Liquidity - The net cash outflow from operating activities was approximately HKD 50.1 million, a decrease of approximately HKD 170.9 million compared to the same period last year[43]. - The net cash used in operating activities for the six months ended June 30, 2023, was HKD 50,052,000, significantly improved from HKD 220,964,000 in the same period of 2022, reflecting a decrease of approximately 77.3%[110]. - Cash and cash equivalents decreased by HKD 89,899,000 during the six months ended June 30, 2023, compared to a decrease of HKD 268,355,000 in the same period of 2022, showing a reduction of about 66.5%[110]. - The company's cash and cash equivalents as of June 30, 2023, were subject to a court order freezing deposits amounting to HKD 102,291,000 due to legal actions taken against former shareholders[168]. Corporate Governance and Leadership - The company has established an audit committee to oversee financial reporting and internal controls, enhancing transparency and accountability[82]. - The previous executive director and CEO, 宣晶, resigned on March 21, 2023, indicating a leadership change within the company[81]. - The company has made strategic changes in its board composition, with new appointments and resignations reflecting ongoing governance adjustments[81]. - The company has complied with the corporate governance code as of June 30, 2023, reflecting its commitment to best practices in governance[83]. Shareholder Information - Major shareholder 京投香港 holds approximately 55.20% of the issued share capital[72]. - The company has a significant shareholding by 中国财产再保險 and 中国人壽再保險, holding 140,737,534 shares and 5,756,000 shares respectively, indicating strong institutional support[79]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2023, consistent with the previous year[148]. Legal and Contingent Liabilities - The group has no significant contingent liabilities as of June 30, 2023[45]. - The company has no violations of covenants related to drawn financing as of June 30, 2023[143].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 京 投 軌 道 交 通 科 技 控 股 有 限 公 司 BII Railway Transportation Technology Holdings Company Limited （於開曼群島註冊成立的有限公司） （股份代號：1522） 截 至2023年6月30日 止 六 個 月 的 中 期 業 績 公 告 京投軌道交通科技控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣 2023 6 30 佈本公司及其附屬公司（統稱「本集團」）截至 年 月 日止六個月（「期內」）的 2022 6 30 未經審核簡明綜合業績，連同截至 年 月 日止六個月之比較數字。 ...

Financial Performance - The company's revenue for the year ended December 31, 2022, was HKD 1,638,948, a decrease of 6.3% compared to HKD 1,749,210 in 2021[25] - Gross profit for 2022 was HKD 586,299, down 9.4% from HKD 647,526 in 2021[25] - The net profit attributable to equity shareholders for 2022 was HKD 179,252, a decrease of 4.1% from HKD 187,535 in 2021[25] - The total assets as of December 31, 2022, were HKD 4,403,760, slightly down from HKD 4,416,662 in 2021[25] - The company maintained a basic and diluted earnings per share of HKD 8.5 for 2022, compared to HKD 8.9 in 2021[25] - The company declared a dividend of HKD 2.6 per share for 2022, down from HKD 2.7 in 2021[25] - The group's total revenue for the fiscal year 2022 was approximately HKD 1,638.9 million, a decrease of about 6.3% year-on-year[49] - The gross profit for the fiscal year 2022 was approximately HKD 586.3 million, representing a decline of about 9.5% compared to the previous year[54] - The group reported a profit attributable to equity shareholders of approximately HKD 179.3 million, a year-on-year decrease of about 4.4%[57] Market Expansion - As of December 31, 2022, the company had approximately HKD 25.6 billion in hand orders[17] - The company expanded its market presence to cover 53 cities in China and 23 cities in 14 overseas countries and regions by the end of 2022[12] - The company has successfully expanded its market presence, securing projects in Tianjin and Wuxi, and has entered the Kuala Lumpur market in Malaysia, enhancing its international brand influence[35] - The group successfully entered four new regional markets in mainland China and expanded into the Kuala Lumpur market in Malaysia during 2022[50] - The company expanded its market presence by entering the Suzhou and Wuxi metro projects, enhancing passenger information service capabilities with new technologies[70] Research and Development - The company is focusing on R&D innovations, including the development of a new generation intelligent train operation system and various data management platforms to enhance its product offerings[36] - Research and development expenditure for the fiscal year 2022 was approximately HKD 159.6 million, accounting for about 9.7% of total revenue, remaining stable compared to the previous year[50] - The company is focusing on research and development in areas such as networked intelligent operations and smart passenger services, utilizing cloud platforms and big data[82] - The company has established a research and development budget of $20 million for innovative technologies in the rail sector for 2023[119] Corporate Governance and Compliance - The company is dedicated to enhancing corporate governance and compliance, ensuring effective board performance and adherence to regulatory requirements[38] - The board of directors confirmed the independence of all independent non-executive directors for the fiscal year 2022[145] - The company has complied with relevant laws and regulations that significantly impact its business and operations during the fiscal year 2022[127] - The company’s board and key executives have confirmed compliance with the securities trading code throughout the fiscal year 2022[167] Environmental and Social Responsibility - The company is committed to environmental responsibility, setting medium to long-term emission reduction targets and developing energy management platforms to improve energy efficiency[40] - The company is committed to environmental, social, and governance (ESG) initiatives as part of its strategic direction[107] - The company has arranged appropriate directors' and officers' liability insurance for its directors and senior management[200] Leadership and Management - The company appointed Liu Yu as CEO and Executive Director on March 21, 2023, following the resignation of Xuan Jing[105] - Liu Yu has been with the company since May 2013 and was promoted to Executive Director in November 2022[105] - The company has a strong leadership team with extensive experience in transportation and engineering sectors[106] - The leadership team includes professionals with advanced degrees and qualifications in engineering and management[110] Future Outlook - The outlook for 2023 is optimistic, with a focus on market expansion and improving management efficiency[90] - The company anticipates a revenue growth of 15% for the upcoming fiscal year, projecting total revenues to reach approximately $300 million[113] - The company plans to enhance management and services for invested enterprises, focusing on improving operational efficiency and integrating business and equity[82] Shareholder Information - The proposed final dividend for the fiscal year 2022 is HKD 0.026 per share, a decrease from HKD 0.027 per share in fiscal year 2021[88] - The total amount for the proposed final dividend is approximately HKD 54.53 million[100] - The company aims for a long-term dividend payout ratio of no less than 30% based on strategic planning and business expansion considerations[100] - As of December 31, 2022, the total issued shares amount to 2,097,146,727, with a market capitalization of HKD 681.57 million[102] Employee Information - The company has 744 employees as of December 31, 2022, with total employee costs around HKD 323 million, a decrease from HKD 348 million in the previous fiscal year[85] - The company actively enhances its human resources system and corporate culture, focusing on employee rights and providing quality training and career development opportunities[151] Risk Management - The company plans to enhance its risk management system to address various risks, including macroeconomic fluctuations and regulatory changes[92] - The company has a strong focus on credit, liquidity, interest rate, and foreign exchange risks as detailed in the financial statements[133]