Financial Performance - The Group's turnover for the year ended December 31, 2024, was approximately RMB 240.3 million, representing a decrease of 32.4% compared to 2023[13] - The gross profit margin and net loss margin were approximately 19.4% and 31.4% respectively[13] - The Group recorded a loss attributable to owners of the Company of approximately RMB 66.9 million, an increase of 179.5% from a loss of approximately RMB 23.9 million in 2023[13] - Revenue decreased from RMB355.7 million in 2023 to RMB240.3 million in 2024, representing a decline of 32.4%[30] - CMS business revenue fell by 26.6% to RMB153.1 million, accounting for 63.7% of total revenue in 2024[27] - OBM business revenue decreased by 40.7% to RMB87.2 million, representing 36.3% of total revenue in 2024[27] - Loss attributable to equity holders rose from approximately RMB23.9 million in 2023 to approximately RMB66.9 million in 2024[33] - Revenue from the CMS business decreased from approximately RMB208.6 million in 2023 to approximately RMB153.1 million in 2024, representing a decrease of approximately 26.6%[73] - Revenue from the OBM business decreased from approximately RMB147.0 million in 2023 to approximately RMB87.2 million in 2024, representing a decrease of approximately 40.7%[75] - Total sales from both CMS and OBM segments in the sexy lingerie category decreased by approximately RMB18.6 million, or 86.1%[77] - Sales from fabric care, personal hygiene, and home care products decreased by approximately RMB50.1 million or 59.6% due to increased market competition[81] - Gross profit margin decreased from approximately 24.5% in 2023 to approximately 19.4% in 2024, primarily due to lower margins from cosplay wigs and costumes[83] Operational Efficiency - The Group maintained a healthy financial position with net current assets of RMB 151.4 million and a net cash position at the financial year end[13] - The Group continues to focus on improving operational efficiency and effectiveness[19] - The Group plans to relocate its wig and clothing production lines to Yichun City, Jiangxi Province, to enhance production efficiency and reduce costs[32] - The establishment of the Party Culture Industrial Park and E-commerce Operation Centre aims to improve production efficiency and collaboration within the industry[31] - The Group remains committed to enhancing product precision and actively seeks to engage new customers and explore new markets, particularly in the high-end sector[77] Market Trends - The rise of slow fashion and customization has led to a decline in fast fashion, with consumers prioritizing quality over quantity[18] - Geopolitical tensions and supply chain disruptions have prompted customers to explore nearshoring and reshoring options to reduce lead times and improve reliability[18] - The Group's product demand is influenced by changing trends and popularity of movie and animation characters, impacting revenue generation[40] - The popularity of animation characters significantly influences market demand and revenue generation, which may fluctuate based on market trends and marketing effectiveness[45] Financial Risks - Significant fluctuations in foreign currency exchange rates may adversely affect profit margins and reported earnings[39] - The Group's intangible assets, including trademarks and patents, are at risk of impairment if financial results do not align with their valuation, potentially impacting business operations[46] - The Group's joint venture partnerships carry risks related to control and alignment of goals, which could adversely affect financial conditions[47] Corporate Governance - The Company has fully complied with the Corporate Governance Code for the year ended December 31, 2024[151] - The Board consists of six Directors, including three Executive Directors and three Independent Non-executive Directors[162] - The Company has an internal control system in place, with nearly half of the Board being Independent Non-executive Directors[152] - The Board met the Listing Rules requirement of having at least three independent non-executive directors, representing one-third of the Board[169] - Independent non-executive directors provide impartial views on the Group's strategies and performance, ensuring shareholder interests are considered[170] - The Company received annual confirmations of independence from each independent non-executive director, in line with Listing Rules[173] - The Board is committed to assessing the independence of directors annually, considering various relevant factors[171] Shareholder Engagement - The Board is responsible for maintaining ongoing dialogue with shareholders, particularly during annual general meetings[189] - The Company Secretary provides unrestricted access to Board papers and related materials for all Board members[188] - The Chairman of the Board and committee chairs are expected to attend annual general meetings to address shareholder questions[189] Financial Position - The Group's total bank balances and cash increased by approximately RMB 14.1 million to approximately RMB 63.6 million as of December 31, 2024[113] - The current ratio and gearing ratio as of December 31, 2024, were 414.4% and 4.9%, respectively[114] - The Group's total staff costs for the year ended December 31, 2024, amounted to approximately RMB 66.3 million, down from RMB 85.5 million in 2023[126] - Income tax expenses for the year ended December 31, 2024, were approximately RMB 4.0 million, an increase from RMB 3.8 million in 2023[112] Capital Expenditure - Capital expenditure during the year ended December 31, 2024, was approximately RMB 41.0 million[117] - The Group has fully utilized the net proceeds of RMB 7.0 million, RMB 8.2 million, and RMB 6.2 million for their intended purposes by December 31, 2024[134] Impairment Losses - Impairment loss on property, plant, and equipment recognized was approximately RMB 11.3 million due to a drop in turnover affecting the recoverable amount[94] - Impairment loss on goodwill related to the fabric care, personal hygiene, and home care products business amounted to approximately RMB 8.4 million, attributed to a significant decline in operating revenue[96]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 355,675,000, an increase of 48% compared to RMB 240,327,000 for the previous year[2]. - The gross profit for the same period was RMB 87,038,000, representing a gross margin of approximately 24.4%, up from RMB 46,591,000 in the previous year[2]. - The company incurred a net loss of RMB 75,395,000 for the year, compared to a net loss of RMB 18,612,000 in the prior year, indicating a significant increase in losses[3]. - The company reported a basic and diluted loss per share of RMB 3.99, compared to RMB 1.68 in the previous year, indicating a worsening of financial performance[3]. - The company reported a total of RMB 8,369 thousand in goodwill for 2024, compared to no goodwill reported in 2023[4]. - The company reported a pre-tax loss of RMB 66,884,000 for the year ended December 31, 2024, compared to a loss of RMB 23,932,000 in 2023, indicating a significant increase in losses[33]. - The company reported a net loss of RMB 18,612,000 for the year, compared to a loss of RMB 14,854,000 in 2023[24]. Revenue Breakdown - Total revenue from external customers reached RMB 240,327 thousand, with contributions from various segments: RMB 32,186 thousand from wigs, RMB 174,206 thousand from personal care, and RMB 33,935 thousand from home cleaning products[18]. - Total revenue for the year ended December 31, 2024, was RMB 240,327,000, a decrease of 32.4% from RMB 355,675,000 in 2023[26]. - Revenue from wigs was RMB 32,186,000, down 23.5% from RMB 42,096,000 in 2023[26]. - Revenue from apparel and other products was RMB 174,206,000, a decline of 24.1% from RMB 229,555,000 in 2023[26]. - Revenue from clothing cleaning, personal care, and home cleaning products was RMB 33,935,000, down 59.6% from RMB 84,024,000 in 2023[26]. - CMS business revenue was RMB 153.1 million, accounting for 63.7% of total revenue, while OBM business revenue was RMB 87.2 million, accounting for 36.3%[56]. - Revenue from CMS business decreased from approximately RMB 208.6 million in 2023 to about RMB 153.1 million in 2024, representing a decline of approximately 26.6%[60]. - Revenue from OBM business fell from approximately RMB 147.0 million in 2023 to about RMB 87.2 million in 2024, a decrease of approximately 40.7%[61]. Expenses and Costs - Operating expenses increased to RMB 86,873,000 from RMB 93,767,000, reflecting a decrease in administrative and operational costs[2]. - The company reported a significant increase in sales costs to RMB 268,637,000 from RMB 193,736,000, which may impact future profitability[2]. - Research and development costs increased to RMB 31,396,000 in 2024 from RMB 26,481,000 in 2023, reflecting a focus on innovation[30]. - Sales expenses increased from approximately RMB 7.7 million in 2023 to about RMB 15.5 million in 2024, mainly due to increased advertising expenses for cleaning products[67]. - The company’s employee costs decreased to RMB 66,322,000 in 2024 from RMB 86,595,000 in 2023, reflecting cost-cutting measures[30]. Assets and Liabilities - Non-current assets increased from RMB 217,548 thousand in 2023 to RMB 319,175 thousand in 2024, representing a growth of approximately 46.7%[4]. - Current liabilities rose from RMB 368,958 thousand in 2023 to RMB 411,646 thousand in 2024, an increase of about 11.5%[5]. - Total equity decreased from RMB 411,080 thousand in 2023 to RMB 363,690 thousand in 2024, reflecting a decline of approximately 11.5%[5]. - The net value of current assets improved from RMB 92,471 thousand in 2023 to RMB 151,410 thousand in 2024, indicating a significant increase of approximately 63.7%[4]. - The total assets reported were RMB 452,483,000, with total liabilities at RMB 41,403,000[22]. Impairments and Provisions - The expected credit loss provision for trade receivables was RMB 3,273,000, an increase from RMB 1,129,000, reflecting a higher risk of default[2]. - The expected credit loss provision for trade receivables increased from RMB 4.9 million in 2023 to RMB 6.0 million in 2024[50]. - Impairment loss on properties, plants, and equipment was approximately RMB 11.3 million due to a decrease in recoverable amounts resulting from a decline in revenue[70]. - Goodwill impairment loss related to the cash-generating unit for laundry, personal care, and home care products was approximately RMB 8.4 million, attributed to a significant drop in revenue and subsequent losses[72]. Strategic Initiatives - The company plans to focus on market expansion and new product development to drive future growth, although specific figures were not disclosed[2]. - The company is actively seeking to enhance brand awareness and improve sales strategies in response to market competition and challenges[62]. - The company has established an industrial park and service center to improve production efficiency and encourage collaboration among industry players[57]. - The company plans to relocate its production lines from Yiwu to Yichun to improve production efficiency and reduce costs due to rising production costs in Yiwu[58]. Compliance and Governance - The company has fully complied with the corporate governance code as of December 31, 2024[96]. - The audit committee, established on August 7, 2015, consists of three independent non-executive directors and is responsible for reviewing the financial reporting process and internal controls[99]. - The preliminary financial results for the year ending December 31, 2024, have been agreed upon with the external auditor, but no assurance has been provided on the preliminary announcement[100].

Financial Performance - For the six months ended June 30, 2024, total revenue was RMB 164.6 million, a decrease of 13.9% compared to RMB 191.2 million in 2023[3]. - Gross profit for the same period was RMB 39.3 million, down 12.7% from RMB 45.0 million in 2023, with a gross profit margin of 23.9%[3]. - The company reported a net loss attributable to equity holders of RMB 768, compared to a profit of RMB 191.2 million in the previous year[3]. - For the six months ended June 30, 2024, total revenue was approximately RMB 164.6 million, a decrease of 13.9% compared to RMB 191.2 million for the same period in 2023[43]. - Profit attributable to equity holders for the six months ended June 30, 2024, was approximately RMB 0.8 million, a turnaround from a loss of RMB 3.1 million in the same period of 2023[45]. - The company reported a total comprehensive income of RMB 435,000, compared to a loss of RMB 4,046,000 in the same period of 2023, indicating a significant recovery[50]. - The profit before income tax was RMB 768,000, compared to a loss of RMB 3,140,000 in the same period of 2023[86]. Revenue Breakdown - The CMS business contributed 57.7% of total revenue, with revenue decreasing from approximately RMB 119.4 million to RMB 95.0 million, a decline of 20.4%[6]. - Revenue from the OBM business decreased from approximately RMB 71.8 million to RMB 69.6 million, representing a decrease of 3.0%[7]. - Sales of fabric care, personal hygiene, and home care products decreased by approximately RMB 5.8 million or 26.0% due to underperformance on domestic e-commerce platforms[8]. - Total revenue from CMS business decreased by approximately 20.4% from RMB 119.4 million to RMB 95.0 million, contributing 57.7% of total revenue[9]. - Revenue from OBM business decreased by approximately 3.0% from RMB 71.8 million to RMB 69.6 million[9]. - Sales of main products, including wigs and garments, decreased by approximately RMB 25.3 million or 21.4%[9]. - Revenue from wigs was RMB 10,195,000, down from RMB 13,071,000, representing a decline of 22.1%[76]. - Revenue from clothing and others was RMB 137,994,000, a decrease of 11.4% from RMB 155,879,000[76]. - Revenue from fabric care, personal hygiene, and home care products was RMB 16,450,000, down from RMB 22,239,000, reflecting a decline of 26.0%[76]. Expenses and Costs - Selling expenses represented approximately 2.8% of revenue for the six months ended June 30, 2024, up from 2.2% in 2023, mainly due to increased advertising expenses[15]. - Administrative and other operating expenses decreased by approximately RMB 4.7 million from RMB 39.7 million to RMB 35.0 million[16]. - Impairment loss on property, plant, and equipment recognized at approximately RMB 6.0 million due to reduced turnover affecting recoverable amounts[19]. - Finance costs decreased by approximately RMB 1.7 million from RMB 1.9 million to RMB 0.2 million, primarily due to reduced interest payments on short-term borrowings[21]. - The cost of inventories recognized as an expense decreased to RMB 93,999,000 from RMB 96,386,000, representing a reduction of approximately 2.9%[81]. - Depreciation for property, plant, and equipment decreased to RMB 7,844,000 from RMB 11,606,000, a decline of about 32.3%[81]. Assets and Liabilities - Total assets increased by 10.1% to RMB 498.1 million as of June 30, 2024, compared to RMB 452.5 million at the end of 2023[3]. - Total liabilities rose by 57.0% to RMB 65.2 million, up from RMB 41.4 million in 2023[3]. - Current assets increased to RMB 169,960,000 as of June 30, 2024, up from RMB 133,308,000 at the end of 2023, reflecting improved liquidity[51]. - Trade and other receivables rose significantly to RMB 113,051,000 from RMB 60,514,000, indicating stronger sales performance[51]. - Net assets increased to RMB 432,901,000 as of June 30, 2024, compared to RMB 411,080,000 at the end of 2023, showing growth in equity[52]. - The Group's total bank borrowings as of June 30, 2024, were approximately RMB 18.0 million, an increase from approximately RMB 8.2 million as of December 31, 2023[24]. - The current ratio decreased to 262.4% from 326.4%, reflecting a decline of 64.0 percentage points[3]. - The Group's right-of-use assets, buildings, and investment properties pledged for bank loans had carrying values of approximately RMB4.5 million, RMB59.8 million, and RMB34.4 million respectively[28]. Cash Flow and Financing - Bank balances and cash decreased by 26.8% to RMB 36.2 million from RMB 49.5 million[3]. - As of June 30, 2024, the total cash and cash equivalents of the Group were approximately RMB36.2 million, a decrease of approximately RMB13.3 million compared to December 31, 2023[24]. - The company generated RMB 18,000,000 from borrowings and RMB 21,907,000 from the issuance of shares during the financing activities[56]. - The company incurred a cash outflow of RMB 34,104,000 from investing activities, primarily due to the purchase of property, plant, and equipment[56]. - The company reported an operating cash flow of RMB (10,309,000) for the first half of 2024, a significant decline from RMB 36,235,000 in the same period of 2023[56]. - Cash and cash equivalents at the end of the period decreased to RMB 36,184,000 from RMB 117,643,000 in the previous year[57]. Share Capital and Equity - The Company issued 295,542,000 ordinary shares at a price of HK$0.08 per share on May 3, 2024, raising net proceeds of approximately HK$23.1 million[35]. - The total issued and fully paid shares increased to 1,773,263,120 as of June 30, 2024, from 1,477,721,120 as of December 31, 2023[140]. - The weighted average number of ordinary shares in issue during the period increased to 1,573,529,000 from 1,392,857,000, an increase of approximately 13%[86]. - The Company reported a total equity of RMB 432,901,000, up from RMB 411,080,000, reflecting a solid capital position[52]. - The company recognized other comprehensive income of RMB 962,000 for the period, compared to an expense of RMB (917,000) in the previous year, indicating improved foreign exchange performance[50]. Strategic Initiatives - The company plans to diversify its business and broaden revenue streams through acquisitions of intellectual property rights and collaborations with upstream and downstream companies[47]. - The company aims to improve operational efficiency and effectiveness in the second half of 2024[48]. - The company continues to explore market expansion opportunities and new product development strategies to enhance revenue streams[76]. - The company will continue to evaluate and identify target companies for potential investment to generate synergies within the industry[47]. Market Conditions - The global economic outlook remains uncertain, with risks from geopolitical conflicts and market conditions affecting future performance[46].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 164,639,000, a decrease of 13.9% compared to RMB 191,189,000 for the same period in 2023[1] - Gross profit for the same period was RMB 39,302,000, down 12.5% from RMB 45,029,000 year-on-year[1] - Operating loss before tax for the six months was RMB 527,000, an improvement from a loss of RMB 3,129,000 in the prior year[2] - Total comprehensive income for the period was RMB 435,000, compared to a loss of RMB 4,046,000 in the same period last year[3] - The company reported a basic and diluted loss per share of RMB 0.05 for the period, compared to a loss of RMB 0.23 in the previous year[3] - The group reported a net loss of RMB 527 thousand for the period, with income tax expenses amounting to RMB 1,458 thousand[13] - The company reported a net loss of RMB 3,129 thousand for the six months ended June 30, 2024, compared to a net loss of RMB 3,346 thousand for the same period in 2023, indicating a slight improvement[15] - The company achieved a profit attributable to equity holders of RMB 0.8 million for the six months ended June 30, 2024, compared to a loss of RMB 3.1 million for the same period in 2023[68] Assets and Liabilities - Non-current assets increased to RMB 328,126,000 as of June 30, 2024, from RMB 319,175,000 at the end of 2023[4] - Current assets rose to RMB 169,960,000, up from RMB 133,308,000 at the end of 2023[4] - Total equity increased to RMB 432,901,000 as of June 30, 2024, compared to RMB 411,080,000 at the end of 2023[5] - The company’s total liabilities as of June 30, 2024, were RMB 65,185 thousand, compared to RMB 41,403 thousand as of December 31, 2023, indicating an increase in financial obligations[16] - Trade receivables from third parties amounted to RMB 85,372,000 as of June 30, 2024, up from RMB 42,034,000 as of December 31, 2023[38] - Total trade payables as of June 30, 2024, amounted to RMB 29,791,000, significantly up from RMB 9,109,000 as of December 31, 2023, indicating a 227.5% increase[41] Capital Expenditure and Investments - The group incurred a total capital expenditure of RMB 27,830 thousand during the period, with RMB 90 thousand allocated to wigs and RMB 27,467 thousand to clothing and others[13] - The total capital expenditure for the six months ended June 30, 2024, was RMB 515 thousand, compared to RMB 1,706 thousand in the same period of 2023, reflecting a significant reduction in investment[15] - The company’s bank loans secured by investment properties amounted to RMB 34,393,000 as of June 30, 2024, an increase from RMB 32,482,000 as of December 31, 2023[31] Revenue Segmentation - The group reported total revenue of RMB 164,639 thousand for the six months ending June 30, 2024, with contributions from various segments including RMB 10,195 thousand from wigs and RMB 137,994 thousand from clothing and others[13] - Revenue from CMS business decreased by approximately 20.4% from RMB 119.4 million to RMB 95.0 million, contributing 57.7% of total revenue[44] - Revenue from OBM business decreased by approximately 3.0% from RMB 71.8 million to RMB 69.6 million, with a notable increase in sales of self-owned brand products by 8.8%[45] Cost and Expenses - The company’s employee costs for the six months ended June 30, 2024, totaled RMB 33,544 thousand, down from RMB 39,411 thousand in the same period of 2023, reflecting cost-cutting measures[21] - Administrative and other operating expenses decreased from approximately RMB 39.7 million to about RMB 35.0 million, mainly due to a reduction in depreciation of properties, plants, and equipment by approximately RMB 4 million[51] - Sales expenses accounted for approximately 2.8% and 2.2% of revenue for the six months ended June 30, 2024, and 2023, respectively, primarily due to increased advertising expenses for clothing, personal care, and home cleaning products[50] Impairment and Provisions - The group recognized a loss of RMB 6,034 thousand related to impairment of property, plant, and equipment[13] - The impairment loss recognized for properties, plant, and equipment was RMB 6,034,000 for the six months ended June 30, 2024, compared to no impairment loss in the same period of 2023[36] - The expected credit loss provision for trade receivables was RMB 6,235,000 as of June 30, 2024, an increase from RMB 4,867,000 as of December 31, 2023[39] Corporate Governance and Compliance - The company has fully complied with the corporate governance code as of June 30, 2024[71] - The audit committee reviewed the group's performance and the interim report for the six months ended June 30, 2024[73] Future Outlook - The company expects a decline in sales performance across all reporting segments due to economic downturn[33] - The company plans to enhance operational efficiency and seek opportunities for growth through acquisitions of intellectual property and collaborations with upstream and downstream companies[69]

Financial Performance - The Group's turnover for the year ended December 31, 2023, was approximately RMB 355.7 million, representing an increase of 18.1% compared to 2022[14]. - The gross profit margin was approximately 24.5%, while the net loss margin was approximately 5.2%[14]. - The Group recorded a loss attributable to owners of the Company of approximately RMB 23.9 million, an increase of 5.8% from a loss of approximately RMB 15.1 million in 2022[14]. - Revenue increased from RMB301.1 million in 2022 to RMB355.7 million in 2023, representing an 18.1% growth[33]. - CMS business revenue was RMB208.6 million (58.7% of total revenue) in 2023, up 7.0% from RMB195.0 million (64.8% of total revenue) in 2022[29]. - OBM business revenue surged by 38.6% to RMB147.0 million (41.3% of total revenue) in 2023, compared to RMB106.1 million (35.2% of total revenue) in 2022[29]. - Gross profit margin slightly decreased from approximately 24.9% in 2022 to approximately 24.5% in 2023, primarily due to decreased margins from cosplay wigs and costumes[84]. - Cost of sales increased by approximately RMB42.6 million, from approximately RMB226.0 million in 2022 to approximately RMB268.6 million in 2023[85]. - Other income decreased by approximately RMB4.5 million, from approximately RMB21.6 million in 2022 to approximately RMB17.1 million in 2023[91]. Business Strategy and Expansion - The Group plans to diversify its business and broaden revenue streams by acquiring intellectual property rights and collaborating with companies in upstream and downstream industries[20]. - The Group aims to identify target companies with investment value that can generate synergies within the industry[20]. - The Group has expanded into sub-leasing business and acquired Zhejiang Kelee, which focuses on fabric care and personal hygiene products[13]. - The company established a "Party Culture Industrial Park" in Yiwu to enhance production efficiency and collaboration with upstream and downstream companies[34]. - The Group plans to enhance research and development capabilities and expand its OBM business in the PRC market as part of its growth strategy[55]. Customer and Market Insights - Over 75% of revenue was generated from sales to overseas customers across more than 10 countries in 2023[45]. - Approximately 64% of total revenue was derived from a single customer, indicating a high customer concentration risk[45]. - The Group's products are exported to over 10 countries, including the U.S., Germany, the UK, Japan, and Australia[12]. - The Group maintains long-term relationships with customers from over 20 countries, with the top five customers averaging over seven years of business relationships[73]. - The Group's business is influenced by trends in popular anime characters, which can affect market demand and revenue from related products[51]. Financial Position and Risks - The Group maintained a healthy financial position with net current assets of RMB 92.5 million and a net cash position at the financial year-end[14]. - The Group's profitability may be adversely affected by fluctuations in the exchange rate between the Chinese Yuan and the US Dollar, impacting reported costs and earnings[50]. - The Group's intangible assets, including trademarks and patents, are at risk of impairment if financial results do not align with their valuation, potentially affecting business and financial conditions[52]. - The Group faces uncertainties regarding joint venture partners, which may impact financial conditions and operational results[53]. Governance and Compliance - The Company has fully complied with the corporate governance code as of December 31, 2023[157]. - The Board consists of five Directors, including two Executive Directors and three Independent Non-executive Directors, ensuring a balanced governance structure[163]. - The Independent Non-executive Directors represent one-third of the Board, meeting the Listing Rules requirements[170]. - The Company has established a robust internal control system to ensure effective oversight and decision-making[157]. - The Company emphasizes high standards of business ethics and corporate governance across all activities[159]. Employee and Diversity Initiatives - The Group had approximately 671 employees as of December 31, 2023, with total staff costs amounting to approximately RMB 85.5 million, up from RMB 77.5 million in 2022[128]. - As of December 31, 2023, 64% of the Company's workforce is female, reflecting a commitment to gender diversity[198]. - The board consists of five directors, with one female member, reflecting the company's efforts towards board diversity[199]. - The Company is committed to employee development, workplace safety, and sustainable growth strategies[160]. - The board diversity policy emphasizes the importance of skills, experience, and diverse viewpoints in board appointments[199].

Financial Performance - The total revenue for the year ended December 31, 2023, was RMB 355,675,000, representing an increase of 18.06% compared to RMB 301,113,000 in 2022[2]. - The gross profit for 2023 was RMB 87,038,000, up from RMB 75,058,000 in 2022, indicating a gross margin improvement[2]. - The operating loss for 2023 was RMB 12,288,000, compared to an operating loss of RMB 6,308,000 in the previous year, reflecting increased operational challenges[4]. - The net loss for the year was RMB 18,612,000, compared to a net loss of RMB 14,611,000 in 2022, showing a worsening financial performance[4]. - The company reported a basic and diluted loss per share of RMB 1.68 for 2023, compared to RMB 1.31 in 2022, reflecting increased losses on a per-share basis[4]. - The total operating expenses for the year were RMB 93,767,000, slightly down from RMB 95,665,000 in 2022, indicating cost control efforts[2]. - Total other income for 2023 was RMB 17,140,000, a decrease of 20.5% from RMB 21,634,000 in 2022[34]. - The total tax expense for 2023 was RMB 3,758,000, slightly up from RMB 3,685,000 in 2022[40]. - The group reported a basic loss per share of RMB 23,932,000 for 2023, compared to RMB 15,140,000 in 2022, indicating a worsening of performance[41]. - Loss attributable to equity holders increased from approximately RMB 15.1 million in 2022 to approximately RMB 23.9 million in 2023[72]. Assets and Liabilities - Total assets decreased to RMB 411,646,000 in 2023 from RMB 405,237,000 in 2022, indicating a slight decline in asset management[6]. - The company’s total assets as of December 31, 2023, were RMB 452,483,000, compared to RMB 498,029,000 in 2022[27]. - The company’s total liabilities as of December 31, 2023, were RMB 41,403,000, compared to RMB 99,031,000 in the previous year[27]. - The carrying amount of investment properties as of December 31, 2023, is RMB 32,482,000, down from RMB 36,242,000 in 2022[49]. - The total cost of properties, plants, and equipment as of December 31, 2023, is RMB 448,136,000, compared to RMB 442,061,000 in 2022[51]. - The group’s bank balances and cash totaled approximately RMB 49.5 million as of December 31, 2023, an increase of about RMB 1.9 million compared to December 31, 2022[91]. Revenue Breakdown - Revenue from wigs was RMB 42,096,000, up 27% from RMB 33,205,000 in the previous year[32]. - Revenue from clothing and other products decreased to RMB 229,555,000, down 8% from RMB 249,353,000 in 2022[32]. - Revenue from cleaning and personal care products surged to RMB 84,024,000, a significant increase from RMB 18,555,000 in 2022[32]. - CMS business generated revenue of RMB 208,646,000, accounting for 58.7% of total revenue, while OBM business revenue was RMB 147,029,000, making up 41.3%[68]. - Revenue from CMS business rose from approximately RMB 195.0 million in 2022 to approximately RMB 208.6 million in 2023, an increase of about 7.0%[75]. - Revenue from OBM business increased from approximately RMB 106.1 million in 2022 to approximately RMB 147.0 million in 2023, a growth of approximately 38.6%[76]. Operational Efficiency and Strategy - The company plans to focus on market expansion and new product development to drive future growth, although specific figures were not disclosed[2]. - The company has a strategy for market expansion and product development, focusing on various consumer segments[18]. - The company is actively seeking tenants for its rental properties to optimize asset utilization[71]. - The company plans to enhance operational efficiency and seek opportunities for acquisitions of intellectual property with growth potential to diversify its business and broaden revenue sources[109]. Employee and Costs - The group’s employee costs rose to RMB 86,595,000 in 2023, an increase of 11.5% from RMB 77,478,000 in 2022[37]. - The total employee cost for the year was approximately RMB 85.5 million, up from RMB 77.5 million in 2022, with the number of employees increasing to 671[98]. - Administrative and other operating expenses decreased from approximately RMB 95.7 million in 2022 to about RMB 93.8 million in 2023, primarily due to a reduction in depreciation and amortization expenses to approximately RMB 7.2 million[83]. Investment and Capital Expenditure - The company’s capital expenditure for the year was RMB 19,119,000, compared to RMB 56,349,000 in the previous year[23]. - The group invested approximately RMB 19.1 million in property, plant, and equipment for the year ended December 31, 2023[94]. Governance and Compliance - The company has fully complied with the corporate governance code as of December 31, 2023[111]. - The audit committee, established on August 7, 2015, is responsible for reviewing the company's financial reporting procedures and internal control systems[114]. - The preliminary announcement of the group's financial performance for the year ending December 31, 2023, has been reviewed and confirmed by the auditor, but no assurance has been provided[116]. - The annual performance announcement will be published on the stock exchange and the company's website, with the annual report containing all required information to be sent to shareholders[117]. - The board of directors includes two executive directors and three independent non-executive directors[119].

Financial Performance - For the six months ended June 30, 2023, total revenue increased by 18.5% to approximately RMB191.2 million compared to RMB161.3 million in the same period of 2022[10]. - Gross profit for the same period rose by 22.8% to RMB45.0 million, with a gross profit margin of 23.6%, up from 22.7% in 2022[10]. - The net loss attributable to equity holders increased significantly by 502.7%, amounting to RMB3.1 million, compared to a loss of RMB0.5 million in the prior year[10]. - Revenue from the CMS business slightly increased by 0.5% to approximately RMB119.4 million, accounting for 62.5% of total revenue[14]. - Revenue from the OBM business surged by 68.7%, rising from approximately RMB42.5 million to RMB71.8 million[15]. - The U.S. market contributed approximately 82.6% of total revenue, showing a 15% increase in sales compared to the previous year[16]. - The total comprehensive loss for the period was RMB 4.0 million, compared to a comprehensive income of RMB 2.4 million in the same period of 2022[85]. - Basic and diluted loss per share attributable to equity holders was RMB (0.23) cents, compared to RMB (0.05) cents in the previous year[85]. Assets and Liabilities - Total assets increased by 11.7% to RMB556.5 million, while total liabilities rose by 33.3% to RMB132.0 million[10]. - The current ratio improved to 182.3%, up from 164.6% in the previous period, indicating better short-term financial health[10]. - As of June 30, 2023, total cash and cash equivalents amounted to approximately RMB 117.6 million, an increase of approximately RMB 70.1 million compared to December 31, 2022[45]. - The total bank borrowings as of June 30, 2023, were approximately RMB 77.1 million, up from RMB 71.9 million as of December 31, 2022[50]. - The company's net assets reached RMB 424,480,000 as of June 30, 2023, compared to RMB 398,998,000 at the end of 2022, marking a growth of about 6.4%[89]. - Trade and other receivables increased significantly to RMB 95,448,000 from RMB 70,080,000, representing a growth of approximately 36.3%[88]. Cash Flow and Financing - Cash generated from operating activities was RMB 37,758,000, a significant improvement from a cash usage of RMB 35,555,000 in the previous year[98]. - Net cash generated from financing activities amounted to RMB 33,999,000, compared to RMB 28,498,000 in the prior year[98]. - The company reported a loss for the period of RMB 521,000, which was offset by a total comprehensive income of RMB 2,176,000 for the period[92]. - The company recognized equity-settled share-based payment expenses amounting to RMB 5,405,000 during the period[92]. Operational Highlights - The company plans to diversify its business and broaden revenue streams through acquisitions of intellectual property rights and collaborations with upstream and downstream companies[80]. - The operating environment remains uncertain due to factors such as inflation, rising interest rates, and geopolitical developments[79]. - Research and development costs for the period were RMB 11,102,000, up 30.5% from RMB 8,494,000 in 2022[138]. - The company is engaged in the design, development, production, sales, and marketing of various products, including cosplay items and personal care products[100]. Segment Performance - The CMS business generated revenue of RMB 119.4 million, accounting for 62.5% of total revenue, while the OBM business generated RMB 71.8 million, a significant increase of 68.7% from the previous year[73]. - Revenue from clothing and others segment was RMB 155.9 million, accounting for 81.6% of total revenue, with a growth of 4.1% compared to the previous year[76]. - Segment results for the fabric care, personal hygiene, and home care products segment amounted to RMB 38,319,000 for the first half of 2023, compared to RMB 31,870,000 in the same period of 2022, indicating an increase of about 20.1%[124]. Investment Properties and Assets - The carrying amount of investment properties decreased to RMB75,763,000 as of June 30, 2023, from RMB83,746,000 as of December 31, 2022, representing a decline of approximately 9.5%[158]. - The fair value of the Group's investment properties was RMB95,837,000 as of June 30, 2023, down from RMB108,875,000 as of December 31, 2022, indicating a decrease of about 12%[161]. - Right-of-use assets amounted to RMB4,974,000 as of June 30, 2023, compared to RMB4,676,000 as of December 31, 2022, showing an increase of approximately 6.4%[154]. Credit and Receivables Management - The expected credit loss (ECL) allowance for trade and other receivables was RMB 2,491,000 for the period, reflecting ongoing credit risk management efforts[124]. - The aging analysis of trade receivables shows that 0-30 days receivables increased to RMB 53,784,000 from RMB 31,352,000, a growth of 72%[186]. - The Group requires advance deposits from customers and applies an internal credit assessment policy before accepting new customers[182].

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佈之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不對因本公佈全 部或任何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 China Partytime Culture Holdings Limited 中 國 派 對 文 化 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1532） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 佈 中國派對文化控股有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然宣佈， 本公司及其附屬公司（統稱為「本集團」）截至二零二三年六月三十日止六個月 之未經審核簡明綜合業績，連同二零二二年同期之比較數字如下： 簡明綜合損益及其他全面收益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 人民幣千元 人民幣千元 （未經審核） （未經審核） 收益 6 191,189 161,315 銷售成本 (146,160) (124,640) 毛利 45,029 36,675 ...

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佈之內容概不 負責，對其準確性或完整性亦不發表聲明，並表明不會就本公佈全部或任何部 分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 China Partytime Culture Holdings Limited 中 國 派 對 文 化 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1532） 補 充 公 佈 有 關 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 之 年 報 茲提述中國派對文化控股有限公司（「本公司」）於二零二三年四月二十七日刊 發之截至二零二二年十二月三十一日止年度之年報（「二零二二年年報」）。除另 有界定者外，本公佈所用詞彙與二零二二年年報所界定者具有相同涵義。 有關購股權計劃之補充資料 董事謹此向本公司股東及有意投資者提供以下與購股權計劃有關之更多資料： (i) 於截至二零二二年十二月三十一日止年度初，根據購股權計劃可供授出 之購股權數目為75,000,000股股份。年內，計劃授權上限已經更新，並獲股 東於二零二二年六月二十四日舉行之本公司股東週年大會上批准。於截 至二零二二年 ...

Financial Performance - The Group's turnover for the year ended December 31, 2022, was approximately RMB 301.1 million, representing an increase of 24.3% compared to 2021[14]. - The gross profit margin was approximately 24.9%, while the net loss margin was approximately 4.8%[14]. - The Group recorded a loss attributable to owners of the Company of approximately RMB 15.1 million, a decrease of 14.6% from a loss of approximately RMB 17.7 million in 2021[14]. - Revenue increased from RMB242.2 million in 2021 to RMB301.1 million in 2022, representing a growth of 24.3%[32]. - CMS business revenue decreased by 2.7% to RMB195.0 million, accounting for 64.8% of total revenue, while OBM business revenue surged by 154.0% to RMB106.1 million, making up 35.2% of total revenue[27]. - Revenue from the CMS business decreased from approximately RMB200.5 million in 2021 to approximately RMB195.0 million in 2022, representing a decrease of approximately 2.7%[47]. - Revenue from the OBM business increased from approximately RMB41.8 million in 2021 to approximately RMB106.1 million in 2022, representing an increase of approximately 154.1%[49]. - The Group's total revenue from fabric care, personal hygiene, and home care products was RMB18.6 million, a new addition to the revenue stream[30]. - Clothing and other products generated revenue of RMB249.4 million, representing a 22.9% increase from the previous year[30]. Acquisitions and Investments - The Group acquired Zhejiang Kelee, which is engaged in the research and development, manufacturing, and sale of fabric care, personal hygiene, and home care products[13]. - The Group acquired High Kelee Investment Holdings Limited, which focuses on R&D, manufacturing, and sales of fabric care and personal hygiene products[38]. - The company acquired 100% of the issued share capital of High Kelee for a total consideration of HK$42.8 million, with HK$8.8 million paid in cash and the remainder settled through the issuance of 170 million shares at HK$0.2 each[110]. - The Group invested RMB6 million for a 15% equity interest in Diamond Virtue Limited in December 2022[39]. - The guaranteed net profit for Zhejiang Kelee for the years ending December 31, 2022, and 2023 was set at no less than RMB 20 million in total, with each year required to be at least RMB 10 million[115]. Financial Position - The Group maintained a healthy financial position with net current assets of RMB 59.9 million and a net cash position at the financial year-end[14]. - As of December 31, 2022, the total bank balances and cash decreased to approximately RMB47.6 million, a decrease of approximately RMB52.1 million compared to December 31, 2021, mainly due to net repayment of borrowings of approximately RMB22.3 million and capital expenditure of approximately RMB40 million[84]. - The Group's borrowings amounted to approximately RMB71.9 million as of December 31, 2022, with a current ratio of 164.6% and a gearing ratio of 19.6%[85]. Operational Efficiency - The establishment of the "Party Culture Industrial Park" in Yiwu aims to enhance production efficiency and collaboration within the industry[33]. - 65% of the gross floor areas of Yiwu and Yichun Production Plants were sub-leased as of December 31, 2022[36]. Cost and Expenses - Cost of sales increased by approximately RMB49.8 million, from approximately RMB176.2 million in 2021 to approximately RMB226.0 million in 2022[59]. - Selling expenses increased by approximately RMB0.4 million, from approximately RMB5.1 million in 2021 to approximately RMB5.5 million in 2022[61]. - Administrative and other operating expenses increased by approximately RMB9.0 million, from approximately RMB86.7 million in 2021 to approximately RMB95.7 million in 2022[62]. - The income tax expense increased from an income tax credit of approximately RMB433,000 in 2021 to approximately RMB3.7 million in 2022, primarily due to an increase in deferred tax recognized[76]. - Finance costs slightly increased from approximately RMB4.5 million in 2021 to approximately RMB4.6 million in 2022, mainly due to an increase in the average borrowings interest rate[74]. Employee and Compensation - Total staff costs for the year amounted to approximately RMB77.5 million, an increase from RMB70.5 million in 2021[97]. - The company has adopted a stock option plan to recognize and reward employee contributions, aiming to retain talent for continued growth[104]. - The employee compensation policy is regularly reviewed by the compensation committee based on performance, qualifications, and market statistics[104]. - As of December 31, 2022, the company had approximately 567 employees, with total employee costs amounting to RMB 77.5 million, an increase from RMB 70.5 million in 2021[103]. Governance and Compliance - The company has fully complied with the Corporate Governance Code for the year ended December 31, 2022, demonstrating commitment to high standards of corporate governance[127][132]. - The board consists of five directors, including two executive directors and three independent non-executive directors, ensuring a balanced governance structure[139][142]. - The independent non-executive directors play a significant role in providing impartial views on the company's strategies and performance, ensuring shareholder interests are considered[146][147]. - The company has established an internal control system to maintain checks and balances within its operations[128]. - The chairman and CEO roles are segregated, with Mr. Teng Hao as Chairman and Mr. Xu Chengwu as CEO, ensuring effective leadership and management[144][145]. Risk Management and Internal Control - The Audit Committee is responsible for reviewing the interim and annual reports and overseeing the Company's financial reporting system[193]. - Risk assessment and internal control reports were evaluated, focusing on the effectiveness of the risk management and internal control system[200]. - The effectiveness of the internal audit function performed by an independent professional adviser was reviewed[200]. Future Outlook - The operating environment remains uncertain in 2023, but the Group is committed to delivering sustainable growth[19]. - The Group aims to diversify its business and broaden revenue streams by acquiring intellectual property rights and collaborating with companies in upstream and downstream industries[20]. - The Group will continue to evaluate and identify target companies with investment value that can generate synergies within the industry[20].