京投轨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 min Special minutional STERNETH LANDS & *** and and and the mail of the mail of the mail of the mail of the seat the seat the seat the seat the seating the seat of the seat of the ** -1444 ........... THE PERSONAL PROPERTY 本次列车： 下班列车：3分钟 拥挤程度： TERESALESS edition tt fumur .......................... 2020 中期報告 委组2021 公司資料2 公司概覽3 財務摘要6 管理層討論及分析7 其他資料 19 中期審閱報告 23 綜合損益表 25 目錄 綜合損益及其他全面收益表 26 綜合財務狀況表 27 綜合權益變 ...

Financial Performance - The company achieved a revenue of approximately HKD 1,193.9 million for the fiscal year 2019, representing a growth of about 163.4% compared to the fiscal year 2018[24]. - The net profit attributable to equity shareholders for the fiscal year 2019 was approximately HKD 96.9 million, reflecting an increase of about 104.4% from the previous year[25]. - The gross profit for the fiscal year 2019 was approximately HKD 424.8 million, with a gross margin reflecting the company's operational efficiency[27]. - The basic earnings per share for the fiscal year 2019 was HKD 4.6, compared to HKD 2.3 in 2018, showcasing significant growth in profitability[27]. - The profit attributable to equity shareholders was approximately HKD 96.9 million, an increase of about HKD 49.5 million, reflecting a growth of approximately 104.4% year-on-year[32]. - The smart rail transit business accounted for approximately 84.5% of total sales revenue, generating about HKD 1,008.5 million, which is a year-on-year increase of approximately 211.5%[57]. - The company's gross profit margin for the fiscal year 2019 improved by approximately 11.6 percentage points to about 35.6%[57]. - The company’s sales, general, and administrative expenses for the fiscal year 2019 were approximately HKD 249.7 million, an increase of about HKD 172.0 million, representing a growth of approximately 221.4%[95]. - The company’s investment income for the fiscal year 2019 was approximately HKD 25.2 million, a growth of about 17.8% compared to the previous year[94]. Business Expansion and Market Strategy - The company has expanded its business coverage to 39 cities in China and 9 cities in 4 overseas countries, including India and Sri Lanka[11][12]. - The company has a backlog of orders amounting to approximately HKD 1.5 billion as of the end of 2019, indicating strong future revenue potential[17]. - The company plans to continue its market strategy of "rooted in Beijing, radiating nationwide, and advancing internationally" to enhance its market presence[11]. - The company successfully secured contracts for multiple metro projects in cities such as Kunming, Fuzhou, and Shenzhen, indicating a year-on-year increase in projects outside Beijing[38]. - The company has made significant strides in international markets, winning contracts for metro projects in Mumbai and Pune, thus expanding its overseas business presence[38]. - The company aims to deepen its market strategy by expanding into emerging regions such as Zhengzhou and targeting international markets along the "Belt and Road" initiative[88]. - The company plans to deepen its involvement in the construction of smart metro systems in Beijing, aiming to enhance its market share in the region[64]. - The company has successfully expanded its projects outside Beijing, signing contracts for multiple metro projects across various cities, including Kunming, Fuzhou, Shenzhen, and Chengdu, among others[66]. Research and Development - The company invested approximately HKD 117.9 million in R&D for fiscal year 2019, a significant increase of about 252.8% compared to fiscal year 2018, with R&D accounting for approximately 9.9% of total revenue[38]. - The company is focused on developing a cloud-based ANCC system that integrates ACC and MLC systems, enhancing its technological capabilities in the rail transportation sector[23]. - The company established a new Smart Rail Transit Technology Research Institute to enhance innovation and integrate R&D efforts, focusing on big data platforms and smart perception technologies[40]. - The company is committed to continuous innovation in research and technology to support the construction of smart rail transit systems and enhance operational efficiency[84]. - The company is investing in research and development, allocating 5% of its revenue towards innovation in transportation technology[151]. Corporate Governance and Social Responsibility - The company emphasizes the importance of strict corporate governance and has updated several securities-related regulations to meet higher governance standards[45]. - The company is focused on enhancing employee welfare and promoting a green and healthy office environment as part of its social responsibility initiatives[42]. - The company has established good relationships with employees, focusing on human resources and corporate culture development[180]. - The company has a strong focus on environmental, social, and governance practices, as discussed in its separate 2019 ESG report[164]. - The board of directors confirmed the independence of all independent non-executive directors for the fiscal year 2019[174]. Financial Position and Risk Management - As of December 31, 2019, the company had total assets of HKD 4,033.8 million, with total liabilities amounting to HKD 1,761.3 million[27]. - The group maintained a reasonable debt-to-asset ratio and sufficient cash flow, ensuring its sustainable operational capability despite the pandemic[89]. - The current ratio as of December 31, 2019, was approximately 2.5, compared to 2.8 in the previous year[106]. - The group's debt-to-asset ratio increased to 43.7% as of December 31, 2019, from 27.8% in 2018[106]. - The company faced risks including intensified competition, legal litigation, and market barriers, as well as challenges related to technology trends and user behavior shifts[164]. Future Outlook and Strategic Initiatives - The company plans to implement detailed revenue enhancement and cost-saving measures in response to the adverse impacts of the pandemic[49]. - The group anticipates continued growth in the rail transit industry, with significant investments expected in urban rail transit construction, totaling RMB 752.817 billion across 54 new lines in 25 cities by 2020[79]. - The company aims to lead the development of smart rail transit by integrating advanced information technologies such as big data and cloud computing[46]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its portfolio[138]. - The company has set a future revenue guidance of 40 million for 2020, indicating a projected growth of approximately 21%[149]. Shareholder Returns - The company plans to distribute a dividend of HKD 0.02 per share for fiscal year 2019, a 100% increase compared to the previous year, totaling approximately HKD 42 million[33]. - The company is committed to a long-term dividend payout ratio of no less than 30%, ensuring stable returns for shareholders[34]. - The board proposed a final dividend of HKD 0.02 per share for the fiscal year 2019, up from HKD 0.01 per share in 2018[112]. - The earnings per share for the fiscal year 2019 was HKD 0.02, reflecting a stable dividend distribution[128]. - The company has established a dividend policy with a long-term payout ratio of no less than 30%, ensuring stable returns for shareholders[129].

Financial Performance - The company's revenue for the first half of 2019 was approximately HKD 496 million, representing a year-on-year growth of about 262%[3] - The net profit for the same period was approximately HKD 62.064 million, showing a year-on-year increase of about 220%[3] - The gross profit margin improved to 35.97% in the first half of 2019, compared to 27.19% in the same period last year[31] - The company's revenue increased by approximately 262% to about HKD 496 million for the six months ended June 30, 2019, compared to approximately HKD 137.2 million for the same period in 2018[69] - The gross profit rose by approximately 378% to about HKD 178.4 million for the six months ended June 30, 2019, compared to approximately HKD 37.3 million for the same period in 2018[69] - The company achieved a net profit attributable to equity shareholders of approximately HKD 59.5 million for the six months ended June 30, 2019, an increase of about 208% from approximately HKD 19.3 million for the same period in 2018[69] - Operating profit reached HKD 83,728,000, up from HKD 12,339,000 in the previous year[158] - Net profit for the period was HKD 62,064,000, compared to HKD 19,413,000 in 2018, indicating a growth of 219%[158] Business Expansion and Projects - The company has successfully completed multiple projects, including the AFC renovation for the S2 line and won new contracts, such as the procurement project for the Beijing Metro Line 12 AFC equipment valued at approximately RMB 110 million[40] - The company aims to expand its business coverage to over 40 cities both domestically and internationally, including major cities like Beijing, Hong Kong, and Mumbai[35] - The company achieved significant project wins in the first half of 2019, including a procurement project for the Kunming Rail Transit Line 4 valued at approximately RMB 125 million and a project in Hefei worth about RMB 52.76 million[44] - The company secured a project for the new airport line transmission system with 5G capabilities, set to be operational by the end of September 2019, marking a significant advancement in its infrastructure capabilities[45] - The company completed the acquisition of Huaki Intelligent in the first half of 2019, enhancing its position in the PIS industry and expanding its operational reach across most regions of China[64] Research and Development - Research and development investment reached approximately HKD 44.8 million in the first half of 2019, a significant increase of about 137% year-on-year, accounting for over 9% of the company's revenue during the same period[56] - The company has a total of 30 patents and 67 software copyrights, emphasizing its commitment to innovation in the rail transit sector[3] - Research and development expenses increased approximately 137% from about HKD 18.9 million to about HKD 44.8 million, primarily due to R&D investments by Huaki Intelligent[79] Financial Position and Liabilities - The group's cash and cash equivalents decreased to approximately HKD 304.9 million as of June 30, 2019, from about HKD 1,069.6 million as of December 31, 2018, mainly due to the payment for the acquisition of Huaki Intelligent[82] - The group's total liabilities to total assets ratio increased to approximately 35.9% as of June 30, 2019, from 27.8% as of December 31, 2018, primarily due to the acquisition of Huaki Intelligent[86] - The company reported a total comprehensive income of HKD 42,528,000 for the period, compared to HKD 13,247,000 in 2018[165] - The total equity attributable to equity shareholders as of June 30, 2019, was HKD 2,182,907,000, reflecting a decrease from HKD 2,197,652,000 at the beginning of the year[185] Shareholder Information - Major shareholder More Legend holds 244,657,815 shares, representing approximately 11.65% of the issued share capital[113] - Major shareholder China Reinsurance (Group) Corporation holds 191,193,534 shares, representing approximately 9.10% of the issued share capital[122] - Central Huijin Investment Co., Ltd. holds 191,193,534 shares, representing 9.10% of the company's equity[123] - China Property Reinsurance Co., Ltd. and China Life Reinsurance Co., Ltd. hold 148,585,534 shares and 42,608,000 shares respectively, both being wholly-owned subsidiaries of China Reinsurance (Group) Corporation, which is 71.56% owned by Central Huijin Investment Co., Ltd.[124] Corporate Governance - The audit committee, consisting of three independent non-executive directors, oversees the appointment and reappointment of external auditors and reviews financial statements[143] - The company has complied with the corporate governance code as of June 30, 2019[147] - No significant events requiring disclosure occurred after June 30, 2019, up to the report's publication[148] Cash Flow and Investments - The net cash used in operating activities for the six months ended June 30, 2019, was HKD 138,047,000, a significant decrease from the cash generated of HKD 44,153,000 in the same period last year[189] - The company incurred a net cash outflow of HKD 189,277,000 in investing activities for the six months ended June 30, 2019, compared to HKD 65,915,000 in the previous year[191] - The company paid HKD 21,724,000 for the acquisition of non-controlling interests during the reporting period[189] - The company received HKD 482,790,000 from the repayment of acquisition deposits during the reporting period[189] Future Outlook - The company aims to expand its business coverage and enhance its core competitiveness by transitioning from a market-driven model to a technology-driven model[102] - The company plans to actively explore new businesses such as smart metro systems, big data centers, and internet ticketing, aiming to lead the upgrade from informatization to smartization in rail transit[102] - The company will continue to pursue rapid expansion through mergers, investments, and business collaborations, establishing a full industry chain development model[103] - The company is focusing on the construction scale of 5G business, which is expected to generate more revenue as the Beijing subway new airport line progresses[102]

Financial Performance - The company reported a revenue of HKD 453,204,000 for the year ended December 31, 2018, a decrease of 19.7% compared to HKD 564,587,000 in 2017[12]. - Gross profit for 2018 was HKD 108,815,000, down 4.1% from HKD 113,286,000 in the previous year[12]. - The profit attributable to equity shareholders was HKD 47,398,000, representing an increase of 23.0% from HKD 38,554,000 in 2017[12]. - Basic earnings per share increased to HKD 2.3 in 2018 from HKD 1.8 in 2017, reflecting a growth of 27.8%[11]. - The company achieved revenue of approximately HKD 453.2 million for the fiscal year 2018, a decrease of about HKD 111.4 million or 19.7% compared to HKD 564.6 million in fiscal year 2017[18]. - Profit attributable to equity shareholders for fiscal year 2018 was approximately HKD 47.4 million, an increase of about HKD 8.8 million or 22.8% from approximately HKD 38.6 million in fiscal year 2017[18]. - Revenue from smart rail transit services for the fiscal year 2018 was approximately HKD 323.81 million, with three core business segments contributing to this figure[43]. - Revenue from the smart rail transit service business fell by about 28.1% to approximately HKD 323.8 million, attributed to the completion of the Beijing ticket reform phase II project and delays in new contracts for the new airport expressway and Zhengzhou ANCC projects[65]. - Revenue from the civil communication transmission service business increased by approximately 13.0% to about HKD 129.4 million, driven by higher income from 4G transmission services[65]. - The company's investment income rose to approximately HKD 21.4 million in 2018, up from HKD 11.5 million in 2017, mainly due to increased profits from joint ventures Beijing Capital Metro Co., Ltd. and Metro Technology[68]. - The company reported a final dividend of HKD 0.01 per share for the fiscal year 2018, consistent with the previous year[127]. Assets and Liabilities - Non-current assets stood at HKD 703,412,000 as of December 31, 2018, a slight decrease from HKD 731,123,000 in 2017[11]. - Current assets increased to HKD 2,340,020,000 in 2018, up from HKD 1,981,904,000 in 2017, reflecting a growth of 18.1%[11]. - Total liabilities rose to HKD 845,780,000 in 2018, compared to HKD 498,918,000 in 2017, marking a significant increase of 69.5%[11]. - As of December 31, 2018, the company's cash and cash equivalents were approximately HKD 1,069.6 million, down from HKD 1,128.8 million in 2017[74]. - The group reported current assets of approximately HKD 2,340.0 million and current liabilities of approximately HKD 827.8 million, resulting in a current asset net value of approximately HKD 1,512.2 million as of December 31, 2018[76]. - The group's debt-to-asset ratio was 27.8% as of December 31, 2018, up from 18.4% on December 31, 2017[76]. Strategic Initiatives - The company aims to enhance its market presence by focusing on smart rail transit systems and expanding its business areas, industry chain, and market regions over the next three years[9]. - The company plans to leverage technologies such as artificial intelligence, big data, and cloud computing to transform the rail transit industry[16]. - The company is committed to innovation-driven development to meet the growing demand for smarter transportation services[16]. - The company is focusing on technological innovation, with significant progress in the development of core products such as the Automatic Fare Collection (AFC) system and Passenger Information System (PIS)[21]. - The company is actively investing in new technologies and expanding into smart city infrastructure projects, including power, water, and public safety sectors[24]. - The company aims to achieve full-chain collaborative development, providing integrated smart system services and enhancing its core competitiveness in urban rail transit[28]. - The company is committed to exploring innovative technologies in rail transit and optimizing information system solutions to meet customer needs[30]. - The company aims to enhance its service guarantee strategy, business focus strategy, and collaborative innovation strategy to drive efficiency and value[30]. - The company plans to establish a research institute to enhance its technological planning and management, focusing on big data analysis for smart urban rail systems[95]. Market Expansion - The company secured new project contracts worth approximately RMB 490 million in cities outside Beijing, including Zhengzhou, Nanning, Kunming, and Fuzhou[21]. - The company is expanding its market presence by establishing a joint venture, Beijing Jingtou Xinan Technology Co., Ltd., to enhance its information security business segment[24]. - The company completed the acquisition of Huaki Intelligent in 2018, which is expected to enhance its competitiveness in the smart rail transit sector and expand its market presence internationally[33]. - The company plans to continue focusing on the Beijing market while expanding its reach to the Greater Beijing-Tianjin-Hebei area and nationwide, with an emphasis on innovation and rapid growth[33]. - By 2023, the operational length of urban rail transit lines in China is projected to reach 13,230 kilometers, supported by favorable macro policies[40]. Corporate Governance - The board proposed a final dividend of HKD 0.01 per share for the fiscal year 2018, consistent with the previous year[84]. - The board of directors highlighted that the group complied with relevant laws and regulations significantly impacting its business and operations during the fiscal year 2018[125]. - The company's auditor issued an unqualified opinion regarding the ongoing related party transactions[195]. - The company has established a rigorous securities trading code for directors and employees, ensuring compliance with the standard code[175]. - The company has adopted a share option scheme to reward directors and eligible employees[150]. Risks and Challenges - The company faces risks including technological changes, competition for talent, and market barriers, as well as legal, credit, liquidity, interest rate, and foreign exchange risks[131]. - The company has not entered into any management or administrative contracts related to its overall or any major business as of December 31, 2018[149]. Employee Relations - The company has established good relationships with employees, providing various activities to promote work-life balance[151]. - The total employee cost, including director remuneration, was approximately HKD 119 million for the fiscal year, compared to HKD 101 million in the previous year[80].