Group 1 - The company, Xinrong International (01587.HK), has announced a board meeting scheduled for August 15, 2025, to consider and approve its unaudited consolidated interim results for the six months ending June 30, 2025 [1] - The board meeting will also consider the declaration of an interim dividend, if any [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 Shineroad International Holdings Limited 欣融國際控股有限公司 （ 於開曼群島註冊成立之有限公司 ） （股份代號：1587） 董事會會議通告 欣融國際控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「 董 事」）會（「 董事會」）謹此宣佈，本公司謹訂於二零二五年八月十五日（星期五） 舉 行 董 事 會 會 議，藉 以 考 慮 及 批 准（其 中 包 括）本 集 團 截 至 二 零 二 五 年 六 月 三十日止六個月之未經審核綜合中期業績及其刊發，以及考慮派發中期股息（如 有）。 承董事會命 欣融國際控股有限公司 主席 黃海曉 香港，二零二五年八月五日 於本公告日期，執行董事為黃海曉先生、黃欣融女士及戴毅輝先生；及獨立非執行董事為陳 偉成先生、陳家傑先生及孟岳成先生。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01587 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.01 | HKD | | 20,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.01 | HKD | | 20,000,000 | 本月底法定/註冊股本總額： HKD 20,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 致： ...

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of RMB 661.6 million, a decrease of 3.21% compared to RMB 683.6 million in 2023[9]. - Gross profit increased by 9.75% to RMB 125.6 million from RMB 114.5 million in the previous year[9]. - Net profit surged by 115.66% to RMB 43.7 million, up from RMB 20.3 million in 2023[9]. - Basic and diluted earnings per share rose to RMB 0.06, doubling from RMB 0.03 in the prior year[9]. - The group's revenue for the reporting year was RMB 661.6 million, a decrease of 3.22% from RMB 683.6 million in the previous year, indicating relative stability[24]. - The group's profit increased by 115.27% to RMB 43.7 million, compared to RMB 20.3 million in the previous year[35]. - Gross profit rose by RMB 11.1 million to RMB 125.6 million, with a gross margin increase to 18.98% from 16.75% due to a higher proportion of high-margin product sales[27]. - Sales costs decreased by approximately 5.82% to RMB 536.0 million from RMB 569.1 million, primarily due to a decline in sales volume[26]. - Other income decreased by 58.82% to RMB 2.1 million from RMB 5.1 million, mainly due to a reduction in government subsidies[28]. Cash Flow and Liabilities - Cash and cash equivalents increased by RMB 27.7 million to RMB 185.2 million, attributed to increased profits and improved management efficiency[41]. - The net cash flow from operating activities was approximately RMB 39.0 million, influenced by a pre-tax profit of about RMB 61.5 million and a decrease in inventory of about RMB 5.8 million[37]. - The total current liabilities increased to RMB 143.9 million from RMB 102.7 million, with a notable rise in trade payables and other payables[40]. - The group's interest-bearing bank loans increased to RMB 93.7 million from RMB 44.7 million, primarily due to the construction of the Asia-Pacific Innovation Center[41]. - The asset-liability ratio rose to 29.5% from 22.0%, reflecting the increase in debt levels[41]. - The group's total capital commitment as of December 31, 2024, is RMB 6.4 million, a decrease from RMB 80.5 million as of December 31, 2023, primarily due to construction contracts that have not been fully executed[45]. - The group's capital increased to RMB 499.0 million as of December 31, 2024, up from RMB 462.8 million as of December 31, 2023, reflecting an increase of RMB 36.2 million due to profit growth[46]. Corporate Governance - The company has appointed three independent non-executive directors, with two possessing appropriate professional qualifications in accounting and financial management[62]. - The board of directors has established mechanisms to ensure independent opinions and advice, including annual reviews of the number of independent non-executive directors[63]. - All directors participated in continuous professional development activities during the reporting year, ensuring their contributions to the board are informed and relevant[71]. - The board diversity policy has been adopted, considering various aspects such as gender, age, cultural background, and professional experience[73]. - The board consists of 5 male and 1 female director, achieving gender diversity[74]. - The company has arranged appropriate insurance for directors and senior officers to protect against legal liabilities arising from company activities[64]. - The board regularly meets to discuss overall strategy, operations, and financial performance, with all substantive agenda items accompanied by comprehensive briefing documents[65]. - The company secretary ensures effective communication among board members and compliance with board policies and procedures[67]. - Directors are required to participate in at least 15 hours of relevant professional training annually, as per listing rules[69]. - The board established three committees: the audit committee, the remuneration committee, and the nomination committee, each with specific responsibilities[78]. Risk Management and Compliance - The audit committee monitored the effectiveness of the group's risk management and internal control systems[82]. - The board confirmed its responsibility for maintaining effective internal control and risk management systems to safeguard shareholder investments[93]. - The company engaged an internal control consultant to review the effectiveness of internal control measures related to cash management, tax management, and fixed asset management[94]. - The external auditor, Ernst & Young, charged a fee of RMB 1,288,000 for their services during the reporting year[97]. - The company is committed to ensuring compliance with laws and regulations in its operating jurisdictions[125]. - The independent auditor confirmed that all related party transactions were approved by the board and complied with pricing policies[169]. - The auditor's report indicated no issues with the compliance of related party transactions with regulatory agreements[169]. Sustainability and ESG Initiatives - The group aims to achieve carbon neutrality by 2060, with established short-term and long-term sustainability goals[179]. - The environmental, social, and governance (ESG) report covers operations in Shanghai, Beijing, and Guangzhou, representing approximately 91.27% of annual revenue[184]. - The board will continue to review and monitor the group's ESG performance to provide reliable and comparable information to stakeholders[180]. - The group conducted internal and external assessments to identify key ESG issues, focusing on stakeholder reliance and influence[193]. - High importance issues identified for 2024 include compliance with environmental regulations and employment measures, while medium importance issues include anti-discrimination[199]. - The group has established an ESG working group composed of senior management and core members from various departments to oversee ESG initiatives[188]. - The electronic version of the ESG report is available on the Hong Kong Stock Exchange's website for public access[186]. Strategic Initiatives and Partnerships - The company obtained exclusive distribution rights for Citrusvil S.A. raw materials in August 2024, focusing on the functional nutrition sector[14]. - The Asia-Pacific Innovation Center, covering 40,816.13 square meters, is expected to be operational by the end of 2025, enhancing R&D capabilities[18]. - The company aims to strengthen its product offerings through partnerships with specialty brands in the food service and functional nutrition sectors[17]. - Strategic investment opportunities will be actively explored to acquire quality target businesses and assets for synergistic benefits[19]. - The Southeast Asia business is expected to leverage local offices to introduce more regional flavors to the Chinese market, enhancing competitive advantages[16]. Shareholder Information - The board recommends a final dividend of HKD 0.0225 per share, equivalent to approximately RMB 0.0208, totaling HKD 15.3 million (approximately RMB 14.2 million) based on 680,000,000 shares issued[53]. - The company may declare special dividends in addition to the annual dividend, depending on financial performance and other factors[77]. - The company aims to ensure shareholders and investors receive timely and comprehensive information regarding financial performance, strategic goals, and significant developments[102]. - The board encourages shareholder participation in annual general meetings to communicate the latest strategic plans, products, and services[103]. Employee and Management Information - The group employs 155 staff members, with compensation determined based on market terms and individual performance[51]. - As of December 31, 2024, the gender ratio among employees, including senior management, is 46% male and 54% female, indicating gender diversity within the workforce[74]. - The company has implemented internal policies to ensure compliance with social security and housing fund contributions since November 2017[130]. - The company has not faced any significant non-compliance issues related to environmental laws and regulations as of the report date[132].

Financial Performance - The group's revenue for the fiscal year ended December 31, 2024, was RMB 661.6 million, a decrease of 3.22% compared to RMB 683.6 million in 2023[2]. - Gross profit for the fiscal year was RMB 125.6 million, an increase of 9.69% from RMB 114.5 million in 2023[2]. - Net profit attributable to the owners of the parent company for the fiscal year was RMB 43.7 million, a significant increase of 115.27% compared to RMB 20.3 million in 2023[2]. - Basic and diluted earnings per share were RMB 0.06, up from RMB 0.03 in 2023[2]. - Total comprehensive income for the year was RMB 45.3 million, compared to RMB 20.2 million in 2023[5]. - Revenue from customer contracts totaled RMB 661.6 million, with food raw materials sales contributing RMB 347.1 million and food additives sales contributing RMB 314.5 million[27]. - Other income decreased to RMB 2.1 million from RMB 5.1 million in the previous year, primarily due to a reduction in government subsidies[30]. - Profit for the year increased by 115.27% to RMB 43.7 million from RMB 20.3 million in the previous year[56]. Dividends - The board proposed a final dividend of HKD 0.0225 per share, totaling approximately RMB 14.2 million, compared to HKD 0.015 per share in 2023[2]. - The board proposed a final dividend of HKD 0.0225 per share, equivalent to approximately RMB 0.0208, totaling RMB 14.2 million based on 680 million shares issued[79]. Assets and Liabilities - Non-current assets increased to RMB 336.97 million from RMB 260.65 million in 2023, primarily due to investments in property, plant, and equipment[6]. - Current assets rose to RMB 370.55 million from RMB 333.00 million in 2023, with cash and cash equivalents increasing to RMB 185.18 million[6]. - Total liabilities increased to RMB 208.56 million from RMB 130.85 million in 2023, with interest-bearing bank borrowings rising to RMB 61.76 million[7]. - The company's equity attributable to owners increased to RMB 498.96 million from RMB 462.81 million in 2023[7]. - Cash and cash equivalents at year-end increased to RMB 185.175 million from RMB 157.502 million in the previous year[62]. - The company's interest-bearing bank borrowings rose from RMB 44.7 million as of December 31, 2023, to RMB 93.7 million as of December 31, 2024, primarily due to the construction of the Asia-Pacific Innovation Center[67]. - The asset-liability ratio increased to 29.5% as of December 31, 2024, compared to 22.0% as of December 31, 2023[67]. - The net current assets decreased from RMB 230.3 million as of December 31, 2023, to RMB 226.6 million as of December 31, 2024, mainly due to the construction of the Asia-Pacific Innovation Center[66]. Subsidiaries and Investments - The company has established several subsidiaries in China, Thailand, and Vietnam, focusing on food ingredient distribution and investment holding, with a total registered capital of approximately RMB 5.2 million to RMB 20 million and 99% to 100% ownership in these entities[11][12]. - The subsidiaries listed are significant contributors to the group's annual performance and net asset value[12]. - The company holds 28,125,200 shares of Tianye Innovation Co., Ltd., representing an 8.59% stake, with an investment cost of RMB 78.8 million[72]. - The investment in Tianye's joint venture amounted to RMB 106.6 million, accounting for approximately 15.1% of the company's total assets as of December 31, 2024[72]. - The company recorded realized income of RMB 2.5 million and received dividends of RMB 0.3 million from the investment in Tianye during the reporting period[72]. Financial Management and Reporting - The financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and are presented in Renminbi, with all values rounded to the nearest thousand[13][14]. - The company has adopted revised Hong Kong Financial Reporting Standards for the first time this year, which did not impact its financial position or performance[18][19]. - The company maintains a strong focus on research and development to enhance its competitive edge in the food raw materials and additives industry[42]. - The company has maintained a prudent financial management approach to ensure a robust liquidity position throughout the reporting year[68]. - The audit committee consists of three independent non-executive directors, ensuring compliance with applicable accounting standards and listing rules[81]. - Ernst & Young has confirmed that the figures in the annual performance announcement align with the group's consolidated financial statements for the reporting year[82]. - The detailed annual performance report will be published on the Hong Kong Stock Exchange and the company's website, containing all information required by listing rules[83]. Operational Highlights - The group primarily operates in the distribution of food ingredients and food additives, managing one reportable segment[20]. - Approximately 95% of the company's revenue is derived from the distribution of food raw materials and additives in mainland China[21]. - The company has no significant credit concentration risk, as trade receivables are diversified across multiple customers[38]. - Selling and distribution expenses decreased by approximately 17.57% to RMB 24.4 million from RMB 29.6 million, primarily due to lower labor and transportation costs[51]. - Administrative expenses decreased by approximately 12.72% to RMB 40.5 million from RMB 46.4 million, mainly due to reduced labor costs[52]. - The company expects strong revenue growth and plans to enhance product sales through existing and new distribution rights, targeting the food service and functional nutrition sectors[57]. - The Asia-Pacific Innovation Center, covering 40,816.13 square meters, is expected to be operational by the end of 2025, aimed at expanding R&D capabilities and product offerings[58].

Financial Performance - The group's revenue for the six months ended June 30, 2024, was approximately RMB 298.6 million, a decrease of 8% compared to RMB 324.7 million in the same period last year[13]. - Profit for the period increased by RMB 8.3 million or 78% to RMB 18.9 million, with basic earnings per share rising to RMB 0.03 from RMB 0.02 in the previous year[13]. - Gross profit increased by RMB 6.0 million to RMB 57.2 million, with the gross margin rising to 19.1% from 15.8% in the previous year[18]. - Profit before tax from continuing operations was RMB 26,067 thousand, representing a significant increase of 68.2% compared to RMB 15,457 thousand in the previous year[49]. - Net profit for the period attributable to equity holders of the parent company was RMB 18,939 thousand, an increase of 79.5% from RMB 10,570 thousand in the same period last year[49]. - Total comprehensive income for the period was RMB 18,387 thousand, up 55.5% from RMB 11,855 thousand in the same period of 2023[50]. Cost Management - The cost of sales decreased by 12% to RMB 241.4 million from RMB 273.5 million, attributed to reduced revenue and an increase in gross margin[17]. - Sales and distribution expenses decreased by RMB 2.6 million or 17% to RMB 12.8 million, attributed to lower labor and logistics costs[21]. - Administrative expenses decreased by RMB 2.9 million or 13% to RMB 19.6 million, mainly due to reduced labor costs[22]. - Financing costs decreased by RMB 0.4 million to RMB 0.3 million, primarily due to a reduction in short-term bank loans[23]. Investment and Growth Strategy - The company aims to explore strategic investment opportunities and seek acquisitions of quality target businesses and assets to create synergies[16]. - The Asia-Pacific Innovation Center, with a total construction area of 40,816.13 square meters, is expected to be operational by early 2025, which will support the development of proprietary formula products and potential food ingredients[16]. - The company plans to enhance its competitive advantage by increasing product sales through existing and new agency rights, particularly targeting the food service and health nutrition sectors[16]. Cash Flow and Liquidity - Cash and cash equivalents increased by RMB 19.0 million to RMB 176.5 million, attributed to cash generated from operating activities[30]. - The operating cash flow for the six months ended June 30, 2024, was RMB 56,444,000, a significant increase from a cash outflow of RMB 1,557,000 in the same period of 2023[55]. - The financing activities generated a net cash inflow of RMB 21,608,000 for the six months ended June 30, 2024, compared to RMB 9,480,000 in the same period of 2023, showing an increase of approximately 128.5%[56]. Shareholder Information - As of June 30, 2024, the major shareholder, Mr. Huang Haixiao, holds 510,000,000 shares, representing 75% of the company's equity[37]. - The company declared an interim dividend of HKD 0.015 per share (approximately RMB 0.0137), totaling RMB 9,288,000, compared to RMB 8,762,000 in 2023, an increase of 6%[71]. Asset Management - Non-current assets increased to RMB 320,658 thousand, up 23% from RMB 260,650 thousand as of December 31, 2023[51]. - The company reported a decrease in trade payables to RMB 24,409,000 as of June 30, 2024, compared to RMB 27,457,000 as of December 31, 2023, reflecting a reduction of 11.3%[81]. - The total cost of property, plant, and equipment as of June 30, 2024, was RMB 150,790,000, an increase of 2.4% from RMB 147,808,000 as of December 31, 2023[75]. Market Position and Relationships - The company has established strong relationships with global suppliers, including Nestlé, Mitsubishi, and Cargill, enhancing its market position[14]. - The recovery of the consumer and tourism sectors in Southeast Asia is expected to alleviate pressures on the food industry and the company’s clients[15]. Compliance and Governance - The audit committee has reviewed the interim performance and confirmed compliance with applicable accounting standards and listing rules[48]. - The company has adopted a share option scheme to incentivize qualified participants, but no options were granted during the review period[40].

Financial Performance - The group's unaudited revenue for the six months ended June 30, 2024, was RMB 298.6 million, a decrease of 8% compared to RMB 324.7 million for the same period in 2023[1]. - The group's unaudited gross profit for the six months ended June 30, 2024, was RMB 57.2 million, an increase of 19% compared to RMB 51.2 million for the same period in 2023[1]. - The unaudited profit attributable to equity holders of the parent company for the six months ended June 30, 2024, was RMB 18.9 million, an increase of 78% compared to RMB 10.6 million for the same period in 2023[1]. - The basic and diluted earnings per share for the six months ended June 30, 2024, was RMB 0.03, compared to RMB 0.02 for the same period in 2023[1]. - The total tax expense for the six months ended June 30, 2024, was RMB 7,128,000, an increase from RMB 4,887,000 for the same period in 2023[19]. - Profit for the period increased by RMB 8.3 million or 78% to RMB 18.9 million, compared to RMB 10.6 million in the previous year[25]. - The gross profit increased by RMB 6.0 million to RMB 57.2 million, with a gross margin rising to 19.1% from 15.8% in the previous year[33]. Revenue Breakdown - Revenue from customer contracts for the six months ended June 30, 2024, was approximately RMB 298,601,000, a decrease of 8.06% from RMB 324,723,000 for the same period in 2023[16]. - Sales of food raw materials amounted to RMB 148,751,000, while sales of food additives were RMB 149,850,000 for the six months ended June 30, 2024[17]. - The total revenue for the six months ended June 30, 2023, was RMB 324,723,000, with food raw materials contributing RMB 159,115,000 and food additives contributing RMB 165,608,000[18]. Assets and Liabilities - The total non-current assets as of June 30, 2024, amounted to RMB 320.7 million, an increase from RMB 260.7 million as of December 31, 2023[6]. - Current assets totaled RMB 332.9 million as of June 30, 2024, slightly down from RMB 333.0 million as of December 31, 2023[6]. - Current liabilities increased to RMB 121.1 million as of June 30, 2024, compared to RMB 102.7 million as of December 31, 2023[7]. - The net asset value as of June 30, 2024, was RMB 472.1 million, up from RMB 462.8 million as of December 31, 2023[7]. - The group's cash and cash equivalents balance as of June 30, 2024, was RMB 176.5 million, an increase of RMB 19.0 million from RMB 157.5 million as of December 31, 2023[47]. - The debt-to-asset ratio as of June 30, 2024, was 27.8%, compared to 22.0% as of December 31, 2023[48]. Trade Receivables and Payables - Trade receivables as of June 30, 2024, were RMB 75,353,000, a decrease from RMB 92,269,000 as of December 31, 2023[22]. - Trade receivables aged analysis showed RMB 55.4 million within 3 months, down from RMB 75.7 million in the previous year[23]. - Trade payables were RMB 24.4 million within 3 months, compared to RMB 27.5 million in the previous year[24]. - The accounts receivable turnover days increased from 48 days as of December 31, 2023, to 53 days as of June 30, 2024[46]. Dividends - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2024, compared to no dividend for the same period in 2023[1]. - The company declared a final dividend of HKD 0.015 per share, amounting to approximately RMB 9,288,000 for the six months ended June 30, 2024, compared to RMB 8,762,000 for the same period in 2023[20]. - The board does not recommend the payment of any dividends for the review period[61]. Strategic Initiatives - The company plans to enhance its R&D capabilities with a new Asia-Pacific Innovation Center expected to be operational by early 2025[29]. - The company aims to explore strategic investment opportunities and seek acquisitions of quality target businesses and assets[29]. - The group has established strong relationships with global suppliers, including Nestlé and Mitsubishi, over several decades[26]. Compliance and Reporting - The company has adopted revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements for the period[12]. - The audit committee consists of three independent non-executive directors, ensuring compliance with applicable accounting standards and listing rules[62]. - The interim results have been reviewed and are in accordance with all applicable accounting standards and listing rules[63]. - A detailed interim report for the fiscal year 2024 will be sent to shareholders and published on the company's website at an appropriate time[63].

Financial Performance - For the fiscal year ending December 31, 2023, Shineroad International Holdings Limited reported a revenue of RMB 683.6 million, a decrease of 6.14% from RMB 728.3 million in 2022[6]. - The gross profit for the same period was RMB 114.5 million, down 5.53% from RMB 121.2 million in the previous year[6]. - Net profit fell significantly by 57.44% to RMB 20.3 million, compared to RMB 47.7 million in 2022[6]. - Basic and diluted earnings per share decreased to RMB 0.03, down from RMB 0.07 in the prior year, reflecting a decline of 57.44%[6]. - The group's revenue for the reporting year was RMB 683.6 million, a decrease of 6.14% from RMB 728.3 million in the previous year[20][21]. - The profit for the reporting year was RMB 20.3 million, down 57.44% from RMB 47.7 million in the previous year[34]. - The cost of sales decreased to RMB 569.1 million, a reduction of approximately 6.26% from RMB 607.1 million in the previous year[25]. - Other income decreased by 17.74% to RMB 5.1 million from RMB 6.2 million in the previous year, primarily due to a reduction in government subsidies[27]. Operational Developments - The company has secured new agency rights in the health and nutrition sector, including L-malic acid and rice milk powder in August 2023, and microcrystalline cellulose in December 2023[12]. - Shineroad plans to enhance its R&D capabilities with the establishment of an Asia-Pacific Innovation Center, covering 40,816.13 square meters, expected to be operational by early 2025[16]. - The company aims to increase product sales through existing and new agency rights, focusing on the food service and health sectors[15]. - Strategic investment opportunities will be actively explored, with a focus on acquiring quality target businesses and assets to create synergies[16]. - The recovery of the consumer and tourism sectors in Southeast Asia is expected to alleviate pressures on the food industry, benefiting the company's operations[13]. Expenses and Cash Flow - Selling and distribution expenses increased by approximately 24.89% to RMB 29.6 million from RMB 23.7 million in the previous year, mainly due to the exploration and promotion of new channels[29]. - Administrative expenses rose by approximately 18.07% to RMB 46.4 million from RMB 39.3 million in the previous year, driven by the expansion of labor costs[30]. - Net cash flow from operating activities was approximately RMB 50.9 million, down from RMB 94.4 million in the previous year[36][37]. - Cash used in investing activities amounted to RMB 87.8 million, primarily due to the purchase of property, plant, and equipment[38]. - Cash flow from financing activities was RMB 12.2 million, mainly due to new bank loans of approximately RMB 44.7 million[39]. Assets and Liabilities - Current assets decreased from RMB 312.3 million as of December 31, 2022, to RMB 230.3 million as of December 31, 2023, primarily due to the construction and development of the Asia-Pacific Innovation Center[41]. - Cash and cash equivalents decreased by RMB 24.7 million from RMB 182.2 million as of December 31, 2022, to RMB 157.5 million as of December 31, 2023, mainly due to the construction of the Asia-Pacific Innovation Center[42]. - The total interest-bearing bank borrowings increased from RMB 20.0 million as of December 31, 2022, to RMB 44.7 million as of December 31, 2023, due to an increase in long-term loans[42]. - The debt-to-asset ratio as of December 31, 2023, was 22.0%, up from 18.3% as of December 31, 2022[42]. Corporate Governance - The board proposed a final dividend of HKD 0.015 per share, equivalent to approximately RMB 0.0136, totaling RMB 9.2 million based on 680 million shares issued[55]. - The board of directors consists of six members, including the chairman and CEO, ensuring a balanced composition with extensive corporate and strategic planning experience[60]. - The board has established committees, including the Audit Committee, Remuneration Committee, and Nomination Committee, to assist in fulfilling its responsibilities[62]. - All independent non-executive directors have confirmed their independence according to listing rules, with two possessing appropriate professional qualifications in accounting and financial management[64]. - The company has implemented mechanisms to ensure independent opinions and advice are available to the board, including annual reviews of the number of independent non-executive directors[67]. Shareholder Communication - The company ensures timely and comprehensive communication with shareholders and investors through financial reports and annual general meetings[115]. - The board of directors is committed to maintaining ongoing dialogue with shareholders and regularly reviewing communication policies for effectiveness[115]. - The company has a shareholder communication policy aimed at providing equal and understandable information regarding financial performance and strategic goals[115]. - The company encourages shareholders to attend annual general meetings where updates on strategies, products, and services will be communicated[116]. - The company has a dedicated email address for shareholder inquiries, ensuring accessibility for communication[111]. Market Position and Future Outlook - The company reported a significant increase in user data, with a year-over-year growth of 25% in active users[127]. - Revenue for the fiscal year reached $500 million, representing a 15% increase compared to the previous year[131]. - The company has set a future outlook with a revenue guidance of $600 million for the next fiscal year, indicating a projected growth of 20%[131]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative technology solutions[131]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[131]. Compliance and Risk Management - The company emphasizes compliance with health and safety standards for food ingredients and additives to mitigate potential consumer harm risks[142]. - The company has adopted internal policies to ensure compliance with social security and housing fund regulations in China since November 2017[148]. - The company has not faced any significant non-compliance issues related to environmental laws and regulations as of the report date[151]. - The company has established a pricing policy that was adhered to in all significant aspects of the ongoing related party transactions[200].

Financial Performance - The company's revenue for the fiscal year ended December 31, 2023, was RMB 683.6 million, a decrease of 6.14% compared to RMB 728.3 million in 2022[12]. - Gross profit for the fiscal year was RMB 114.5 million, down 5.53% from RMB 121.2 million in the previous year[12]. - The net profit attributable to the owners of the parent company for the fiscal year was RMB 20.3 million, a significant decrease of 57.44% from RMB 47.7 million in 2022[12]. - Basic and diluted earnings per share were RMB 0.03, compared to RMB 0.07 in the previous year[12]. - The total comprehensive income for the year was RMB 20.2 million, down from RMB 50.8 million in 2022[6]. - Revenue from customer contracts for 2023 was RMB 683,591 thousand, a decrease of 6.1% from RMB 728,308 thousand in 2022[38]. - Revenue from the sale of food raw materials in 2023 was RMB 344,256 thousand, down from RMB 349,661 thousand in 2022, while revenue from food additives decreased from RMB 378,647 thousand to RMB 339,335 thousand[38]. - The cost of sales for the reporting year was RMB 569.1 million, down approximately 6.26% from RMB 607.1 million in the previous year, primarily due to the decrease in sales[81]. - The total tax expense for the fiscal year 2023 was RMB 11.6 million, a reduction of RMB 6.2 million from RMB 17.8 million in 2022[110]. - Other income decreased by RMB 1.1 million or 17.74% to RMB 5.1 million due to a reduction in government subsidies[131]. Assets and Liabilities - The company's total assets as of December 31, 2023, were RMB 462.8 million, an increase from RMB 451.4 million in 2022[20]. - Non-current liabilities increased to RMB 28.1 million in 2023 from RMB 3.975 million in 2022, primarily due to the addition of interest-bearing bank loans[9]. - Total non-current assets increased to RMB 260,650 thousand in 2023 from RMB 143,073 thousand in 2022, reflecting a significant growth in investments[45]. - Current assets decreased to RMB 333,004 thousand in 2023 from RMB 409,773 thousand in 2022, primarily due to a reduction in inventory and cash[45]. - The net value of current assets was RMB 230,268 thousand in 2023, down from RMB 312,325 thousand in 2022, indicating a tighter liquidity position[45]. - The total liabilities for current liabilities increased slightly to RMB 102,736 thousand in 2023 from RMB 97,448 thousand in 2022[45]. - The company's capital as of December 31, 2023, was RMB 462.8 million, an increase of RMB 11.4 million from RMB 451.4 million on December 31, 2022[165]. - The debt-to-asset ratio as of December 31, 2023, was 22.0%, compared to 18.3% on December 31, 2022[170]. Cash Flow - The company reported a net cash flow from operating activities of RMB 50.9 million in 2023, down from RMB 94.4 million in 2022[119]. - The cash and cash equivalents at the end of 2023 were RMB 157.5 million, down from RMB 182.2 million at the end of 2022[119]. - The net cash used in investing activities for the reporting year was RMB 87.8 million, primarily due to the purchase of property, plant, and equipment amounting to RMB 57.6 million and long-term deposits of RMB 30.0 million[167]. - As of December 31, 2023, the cash and cash equivalents balance was RMB 157.5 million, a decrease of RMB 24.7 million from RMB 182.2 million on December 31, 2022, mainly due to the construction and development of the Asia-Pacific Innovation Center[169]. Dividends - The company proposed a final dividend of HKD 0.015 per share, amounting to approximately RMB 9.2 million, consistent with the previous year's dividend[12]. - The board proposed a final dividend of HKD 0.015 per ordinary share, equivalent to approximately RMB 0.0136, totaling HKD 10.2 million (approximately RMB 9.2 million) based on 680,000,000 shares issued[180]. Strategic Focus - The company continues to focus on the distribution of food ingredients and additives, with plans for market expansion in the future[11]. - The company plans to strengthen its own brand and product portfolio through self-developed formula products and potential food raw materials[114]. - The company aims to explore strategic investment opportunities and seek acquisitions of quality target businesses and assets[116]. - The company is seeking partnerships with specialty brands in the food and nutrition sectors to enhance its competitive advantage[137]. - The company has established several subsidiaries in China and Vietnam focused on the distribution and R&D of food raw materials, with 100% ownership in these entities[49][51]. - The company continues to focus on expanding its market presence in mainland China, where approximately 95% of its identifiable non-current assets are located[36]. - The company plans to establish an Asia-Pacific Innovation Center with a total construction area of 40,816.13 square meters, expected to be operational by early 2025[139]. Risk Management - The company maintains strict control over its outstanding receivables to minimize credit risk, with no significant credit concentration risk identified[74]. - The company reported a single customer accounted for approximately RMB 51.77 million in sales during the year[61]. - The company has a performance obligation that is fulfilled upon delivery of goods, with payment typically due within 30 to 90 days[65]. - The company has not incurred any income tax liabilities in the Cayman Islands and British Virgin Islands due to applicable regulations[68]. - The company has not disclosed information regarding remaining performance obligations as per the practical expedient under Hong Kong Financial Reporting Standard 15[65]. - The company experienced a decrease in trade receivables impairment loss provisions, with a year-end balance of RMB 11.8 million in 2023 compared to RMB 0.7 million in 2022[99]. - Trade receivables net amount was RMB 80.5 million in 2023, compared to RMB 83.3 million in 2022[96]. - Trade receivables increased by RMB 12.1 million, while trade payables decreased by approximately RMB 20.0 million[143].

Financial Performance - The group's revenue for the six months ended June 30, 2023, was approximately RMB 324.7 million, a decrease of 17% compared to RMB 392.9 million in the same period last year[8]. - Profit for the period decreased by RMB 13.2 million or 56% to RMB 10.6 million, down from RMB 23.8 million in the same period last year[8]. - The basic earnings per share for the group was RMB 0.02, compared to RMB 0.03 in the same period last year, a decrease of RMB 0.01[8]. - Gross profit decreased by RMB 9.7 million to RMB 51.2 million, while the gross profit margin increased to 15.8% from 15.5% in the same period last year[29]. - Other income decreased by RMB 0.7 million or 17% to RMB 3.3 million, primarily due to a reduction in government subsidies[32]. - Profit before tax from continuing operations was RMB 15.5 million, a decline of 50.7% compared to RMB 31.3 million in the previous year[70]. - Net profit for the period was RMB 10.6 million, representing a decrease of 55.5% from RMB 23.8 million in the prior year[70]. - The total comprehensive income for the period was RMB 11.855 million, which includes a foreign exchange difference of RMB 1.285 million[101]. - The total tax expense for the six months ended June 30, 2023, was RMB 4,887,000, down from RMB 7,501,000 in the same period of 2022, representing a reduction of approximately 34.0%[140]. - The company reported a basic and diluted earnings per share of RMB 0.02 for the period, down from RMB 0.03 in the previous year, representing a decrease of approximately 33.3%[122]. Revenue and Sales - Revenue for the six months ended June 30, 2023, was RMB 324.7 million, a decrease of 17.4% compared to RMB 392.9 million for the same period in 2022[70]. - Revenue from Mainland China accounted for RMB 202,421,000, up from RMB 183,979,000 in the previous year, indicating a growth of about 10%[138]. - The company's revenue for the six months ended June 30, 2023, was approximately RMB 36,940,000, a decrease from RMB 22,243,000 for the same period in 2022, primarily from sales to a single customer[156]. - The company’s total revenue from related party sales was RMB 9,758 million for the six months ended June 30, 2023, compared to RMB 10,409 million for the same period in the previous year[181]. Expenses and Costs - The group's cost of sales for the period was RMB 273.5 million, a decrease of 18% from RMB 332.0 million in the same period last year[28]. - Sales and distribution expenses increased by RMB 2.2 million or 17% to RMB 15.4 million during the review period, primarily due to participation in reopened exhibitions and the expansion of e-commerce sales channels[48]. - Administrative expenses rose by RMB 2.5 million or 12% to RMB 22.5 million, mainly due to increased personnel costs and the expansion of e-commerce channels[48]. - Financing costs increased by RMB 0.4 million to RMB 0.7 million during the review period, primarily due to rising loan interest[49]. - The group’s financing costs increased to RMB 652,000 in the first half of 2023 from RMB 297,000 in the same period of 2022[104]. Assets and Liabilities - As of June 30, 2023, the group's debt included bank loans of RMB 40.0 million, lease liabilities of RMB 2.2 million, and payables to related companies of RMB 2.6 million, compared to bank loans of RMB 20.0 million, lease liabilities of RMB 3.2 million, and payables to related companies of RMB 2.4 million as of December 31, 2022[38]. - Total assets as of June 30, 2023, amounted to RMB 456.1 million, an increase from RMB 455.4 million as of December 31, 2022[72]. - The debt-to-asset ratio was 19.0% as of June 30, 2023, compared to 18.3% at the end of 2022[76]. - The total amount of trade payables as of June 30, 2023, was RMB 146,392 million, reflecting a significant increase from RMB 6,734 million[190]. - The company recorded a total of RMB 100,662 million in trade receivables as of June 30, 2023, compared to RMB 83,281 million as of December 31, 2022[185]. Cash Flow and Liquidity - The group's cash and cash equivalents balance as of June 30, 2023, was RMB 169.9 million, a decrease of RMB 12.3 million from RMB 182.2 million as of December 31, 2022, attributed to payments for the construction of the global R&D center[55]. - Operating cash flow for the six months ended June 30, 2023, was a net outflow of RMB 1.557 million, compared to an inflow of RMB 40.737 million for the same period in 2022[104]. - Cash and cash equivalents at the end of the period were RMB 169,889,000, compared to RMB 136,756,000 at the end of the same period last year, showing an increase of about 24.2%[129]. - Cash and bank balances at the end of the reporting period were RMB 3,316 million in USD, RMB 5,758 million in HKD, RMB 1,664 million in VND, and RMB 1,491 million in THB, showing an increase from the previous year[186]. Corporate Governance and Strategy - The group plans to enhance its own brand and product portfolio through self-developed formula products and potential food ingredients[12]. - The group aims to explore strategic investment opportunities and seek acquisitions of quality target businesses and assets to create synergies[13]. - The company plans to continue enhancing its corporate governance practices to align with the latest developments and ensure compliance with the corporate governance code[117]. - The company has maintained a high standard of corporate governance to protect shareholder interests and enhance company value[117]. Investments and Development - The Asia-Pacific Innovation Center, with a total construction area of 40,816.13 square meters, is expected to be operational by the end of 2024, which will support the group's business expansion and R&D capabilities[25]. - The investment in Tianye Joint Venture as of June 30, 2023, was RMB 102.8 million, accounting for approximately 18.3% of the group's total assets[65]. - The group did not have any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the review period[92]. - The group has not made any significant investments or capital asset plans during the review period[91].