1. 特朗普声称以色列和伊朗已完全同意全面停火。 重要新闻： 个股新闻： 金十数据整理：每日港股市场要闻速递（6月24日 周二） 4. 中国中铁(00390.HK)宣布拟回购8亿-16亿元A股股份，回购价格不超过人民币8.5元/股。 5. 药明康德(02359.HK)公司已完成2025年第二次10亿元股份回购并计划注销。 6. 南方通信(01617.HK)今日复牌，此前于6月16日起短暂停牌，宣布拟出售Source Photonics 约4.00%股 权。 7. 精优药业(00858.HK)发盈喜，预期年度业绩同比扭亏为盈至约2.15亿至2.25亿港元。 1. 中国宏桥(01378.HK)受益于铝产品价格上涨等利好因素，集团截至2025年6月30日止六个月的净利润 较2024年同期相比，预计可能会增加35%左右。 2. 黑芝麻智能(02533.HK)：回购总金额不超过人民币1亿元的公司股票。 3. 龙光集团(03380.HK)优化境内债重组方案，提供五项方案供债权人选择。 ...

Financial Performance - Total revenue increased by approximately 3.0% to about RMB 538.1 million for the year ended December 31, 2024, compared to RMB 522.3 million in 2023[12] - Gross profit rose by approximately 39.3% to about RMB 98.5 million, with a gross margin increase of approximately 4.8 percentage points to about 18.3%[12] - Profit attributable to owners of the company for the year was approximately RMB 39.9 million, a significant increase from RMB 5.2 million in 2023[12] - The group's total revenue for the year ended December 31, 2024, was approximately RMB 538.1 million, an increase of about 3.0% compared to RMB 522.3 million for the year ended December 31, 2023[25] - Gross profit increased by approximately 39.3% to about RMB 98.5 million, with a gross margin of approximately 18.3%, up from 13.5% in the previous year[27] - The group recorded a profit attributable to owners of approximately RMB 39.9 million for the year ended December 31, 2024, compared to RMB 5.2 million for the year ended December 31, 2023[36] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 1,509.3 million, up from RMB 1,419.9 million in 2023[13] - Total liabilities increased to RMB 691.4 million from RMB 641.8 million in 2023[13] - As of December 31, 2024, the group's total bank borrowings amounted to approximately RMB 360.3 million, an increase from RMB 310.0 million in the previous year[38] - The group's debt-to-equity ratio as of December 31, 2024, was approximately 84.5%, compared to 82.5% in the previous year[42] Dividends - The company does not recommend the payment of a final dividend for the year ended December 31, 2024, compared to no dividend in 2023[12] - The board does not recommend the payment of a final dividend for the year ending December 31, 2024[101] Market and Industry Outlook - The company plans to continue expanding its market share and exploring new products to meet the growing demands of 5G technology and data centers[21] - The global demand for optical fibers is expected to grow at a compound annual growth rate of approximately 4% from 2023 to 2027, reaching over 650 million core kilometers by the end of 2027[19] - The company anticipates significant growth opportunities in the optical fiber industry driven by the proliferation of 5G networks and advancements in AI technology[20] - The number of gigabit cities in China has reached 207, with new targets for 10-gigabit networks being established in major cities like Beijing and Shanghai[17] - The global optical fiber market is projected to reach USD 11.18 billion by 2030, with a compound annual growth rate of approximately 9.3%[19] Operational Efficiency - The company aims to enhance its cost control capabilities through automation and process optimization to improve profitability and competitiveness[21] - Selling and distribution expenses decreased by approximately 6.0% to about RMB 18.3 million, down from RMB 19.5 million in the previous year, primarily due to lower freight costs[29] - Financing costs decreased by approximately 35.4% to about RMB 6.0 million, down from RMB 9.3 million in the previous year, attributed to lower bank borrowing rates[32] Customer Relationships and Sales - The company has established stable long-term relationships with major customers, enhancing sales through its trusted brand[9] - Approximately 85.8% of trade receivables as of December 31, 2024, are from major Chinese telecommunications operators with good repayment records, compared to 89.3% in 2023[46] - Sales to the largest customer accounted for approximately 63.1% of total sales, while sales to the top five customers made up about 96.1% of total sales[103] Investments and Related Party Transactions - The group has utilized various contracts to hedge against currency risks, despite most operations being conducted in RMB[43] - The group did not receive any dividends from its investments in Southern Fiber and Yingke Optical Fiber during the reporting period[72][78] - The total amount of related party transactions did not exceed the annual cap set by the company[70] - The group has complied with the relevant listing rules regarding related party transactions[71] Governance and Management - The management team has extensive experience in the telecommunications industry, with over 20 years of experience in cable communications for key executives[83][85][93] - The company is focused on strategic management and operational oversight, with key executives responsible for financial control and human resources management[83][85] - The company has a strong board of directors, including independent non-executive directors with over 30 years of experience in corporate management and finance[90][91] - The company has a robust governance structure, with significant shareholding by key family members, ensuring alignment of interests[84][89] - The board of directors is responsible for overseeing the group's business operations, strategic development, and financial performance[151] Employee and Diversity Initiatives - The total number of employees is 295, with 201 males (68%) and 94 females (32%)[166] - The company aims to achieve a gender ratio of approximately 60% male to 40% female among employees and senior management within the next five years[166] Audit and Compliance - The audit committee held two meetings in the fiscal year ending December 31, 2024, to review significant financial matters[158] - The remuneration committee conducted one meeting to review the remuneration proposals for directors and senior management, approving the recommendations[160] - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to assist in governance[156] - The company has adopted the Corporate Governance Code and has complied with its applicable provisions as of December 31, 2024[141] Community Engagement - The company is committed to community service and public engagement, as evidenced by the recognition of board members for their contributions[90] - The group made charitable and other donations of approximately RMB 1,448,000 for the year ended December 31, 2024, compared to approximately RMB 2,168,000 in 2023[133]

Financial Performance - Total revenue increased by approximately 3.0% to about RMB 538.1 million for the year ended December 31, 2024, compared to RMB 522.3 million in 2023[2] - Gross profit rose by approximately 39.3% to about RMB 98.5 million, with a gross margin increase of approximately 4.8 percentage points to about 18.3%[2] - Profit attributable to owners of the company for the year amounted to approximately RMB 39.9 million, a significant increase from RMB 5.2 million in 2023[2] - Total revenue for the year ended December 31, 2024, was RMB 538,097,000, an increase of 3.0% from RMB 522,261,000 in 2023[14] - Revenue from optical cables was RMB 486,620,000, up 5.0% from RMB 463,206,000 in the previous year[14] - Revenue from optical fiber distribution network equipment increased significantly to RMB 31,724,000, compared to RMB 14,924,000 in 2023, representing a growth of 112.5%[14] - The net financing cost for the year was RMB 6,002,000, a decrease of 35.0% from RMB 9,286,000 in 2023[21] - The company's income tax expense for the year ended December 31, 2024, was RMB 8,262,000, a decrease of 26.0% from RMB 11,193,000 in 2023[22] - The pre-tax profit for the year ended December 31, 2024, was RMB 39,936,000, significantly up from RMB 5,198,000 in 2023, indicating a substantial increase in profitability[23] - The cost of sales decreased by approximately 2.6% to about RMB 439.6 million, down from approximately RMB 451.6 million in the previous year[34] - Other income recorded a net amount of approximately RMB 19.5 million, an increase from approximately RMB 17.0 million in the previous year, primarily due to more government grants recognized during the reporting period[36] - Selling and distribution expenses decreased by approximately 6.0% to about RMB 18.3 million, compared to approximately RMB 19.5 million in the previous year, mainly due to lower freight costs[37] - Financing costs decreased by approximately 35.4% to about RMB 6.0 million, down from approximately RMB 9.3 million in the previous year, attributed to lower overall bank borrowing rates[40] Assets and Liabilities - Trade receivables increased to RMB 436.2 million from RMB 342.5 million in 2023, indicating a growth of approximately 27.4%[6] - Non-current assets rose to RMB 621.1 million from RMB 646.5 million in 2023, reflecting a decrease of about 3.9%[6] - Current liabilities decreased to RMB 508.0 million from RMB 538.0 million in 2023, a reduction of approximately 5.6%[7] - The company's total assets increased to RMB 1,001.3 million from RMB 881.9 million in 2023, representing a growth of approximately 13.5%[7] - The company reported a net cash position of RMB 201.1 million in cash and cash equivalents, down from RMB 247.8 million in 2023[6] - The company's total bank borrowings reached RMB 360,342,000 in 2024, up from RMB 310,000,000 in 2023, representing a growth of 16.2%[29] - Trade payables increased to RMB 156,438,000 in 2024 from RMB 132,413,000 in 2023, which is an increase of 18.1%[27] - As of December 31, 2024, the group had bank borrowings of approximately RMB 230.2 million at floating rates, with an interest rate range of 2.15% to 3.65%[47] - The group reported fixed-rate bank borrowings of approximately RMB 130.1 million as of December 31, 2024, with an interest rate range of 2.65% to 3.00%[48] - The group's asset-liability ratio was approximately 84.5% as of December 31, 2024, compared to 82.5% in 2023[50] Dividends and Shareholder Information - The company did not recommend the payment of a final dividend for the year ended December 31, 2024, compared to no dividend in 2023[2] - The company did not declare a final dividend for the year ended December 31, 2024, consistent with the previous year[30] - The company will hold its annual general meeting on June 25, 2025[81] - Share transfer registration will be suspended from June 19, 2025, to June 25, 2025, to determine eligible shareholders[82] - The company has maintained sufficient public float as of December 31, 2024, in accordance with listing rules[83] - No shares were purchased, sold, or redeemed by the company or its subsidiaries for the year ending December 31, 2024[84] - The annual report for 2024 will be available by April 29, 2025, on the stock exchange and the company's website[85] Market Outlook and Strategy - The company plans to continue focusing on the manufacturing and sales of optical fiber and related equipment, with ongoing investments in research and development[8] - The Chinese optical fiber and cable industry is expected to see continued demand growth driven by 5G construction and broadband network coverage[68] - Major domestic telecom operators are expected to initiate a new round of large-scale optical fiber procurement, significantly increasing from 2024 levels[70] - The global demand for optical fibers and cables is expected to grow significantly, with a projected compound annual growth rate (CAGR) of approximately 4% from 2023 to 2027, reaching over 650 million core kilometers by the end of 2027[71] - The company aims to enhance its product offerings to meet the growing demands of 5G technology, broadband needs, and data center connectivity, focusing on new optical fiber products for AI and computing scenarios[73] - The company plans to strengthen cost control through automation and streamlined processes to improve competitiveness and profitability[73] - The macroeconomic environment in 2025 is expected to present both growth opportunities and challenges for the optical fiber industry, which is closely tied to telecom operators' investment levels[74] - The company will actively seek to enhance its competitiveness and market share while maintaining financial flexibility to adapt to macroeconomic uncertainties[75] - The optical fiber industry is facing challenges due to fluctuating raw material prices and logistics stability, which may impact operational performance[74] Governance and Compliance - The company is committed to maintaining high standards of corporate governance to enhance management effectiveness and transparency[76] - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, and confirmed compliance with relevant accounting standards[78] Other Information - The company is currently evaluating the impact of new accounting standards on future financial statements, particularly IFRS 18, which will affect the presentation and disclosure of the income statement starting from 2027[13] - The company continues to enjoy a corporate income tax reduction rate of 15% for its subsidiaries recognized as "high-tech enterprises" since 2022[22] - The group had capital commitments of approximately RMB 20.1 million for the purchase of properties, plants, and equipment as of December 31, 2024[57] - The group generated employee costs of approximately RMB 32.3 million during the reporting period, down from RMB 33.6 million in 2023[59] - Approximately 85.8% of trade receivables as of December 31, 2024, were from major Chinese telecommunications operators with good repayment records[54] - The group had no significant concentration of credit risk beyond the aforementioned[55] - The company recorded a profit of approximately RMB 10.3 million from an associated company, a decrease of about 5.4% from approximately RMB 10.9 million in the previous year[41] - As of December 31, 2024, the company had restricted bank deposits totaling approximately RMB 173,631,000, used as collateral for notes payable[26] - The capitalized interest rate for determining the amount of interest capitalized was approximately 3.73% in 2024, compared to 2.04% in 2023[21] - The company has no return clauses in sales agreements for optical cables and fiber distribution network equipment, except for quality issues, ensuring a stable revenue recognition process[15] - Pacific Smart Development Limited agreed to sell 8,235,293 shares of Source Photonics Holdings for $21,559,218, representing approximately 4.00% of equity[62] - The sale constitutes a very significant transaction and requires shareholder approval, which was obtained on September 9, 2024[63] - The formal sale agreement was terminated on January 24, 2025, without significant adverse impact on the company's financial condition or operations[66]

Financial Performance - Total revenue decreased by approximately 3.0% to about RMB 256.8 million for the six months ended June 30, 2024, compared to RMB 264.7 million for the same period in 2023[4]. - Gross profit increased by approximately 30.4% to about RMB 34.6 million, with a gross margin rising from approximately 10.0% to about 13.5%[4][8]. - Profit and total comprehensive income amounted to approximately RMB 5.5 million, compared to RMB 2.1 million for the same period in 2023[4][5]. - Revenue from the optical cable and optical fiber distribution network equipment segment was approximately RMB 245.8 million, an increase of about 7.5% year-on-year, accounting for approximately 95.7% of total revenue[6]. - Revenue from the color-coated steel plate segment decreased by approximately 69.7% to about RMB 10.9 million, representing about 4.3% of total revenue[6]. - The group recorded an income tax expense of approximately RMB 2.3 million during the reporting period, compared to an income tax credit of approximately RMB 2.7 million for the six months ended June 30, 2023[16]. - The total profit and comprehensive income attributable to the owners of the company was approximately RMB 5.5 million, an increase from RMB 2.1 million for the six months ended June 30, 2023[17]. - The group reported revenue of RMB 256.75 million for the six months ended June 30, 2024, a decrease of 3% compared to RMB 264.73 million for the same period in 2023[52]. - Gross profit for the same period was RMB 34.60 million, an increase of 30.5% from RMB 26.54 million year-on-year[52]. - The group reported a net profit of RMB 5.52 million for the period, compared to RMB 2.15 million in the previous year, marking a significant increase[52]. Expenses and Costs - Selling and distribution expenses increased by approximately 32.4% to about RMB 11.1 million due to rising freight costs and increased expenses for market expansion[10]. - Research costs decreased by approximately 32.9% to about RMB 13.4 million, primarily due to the completion of certain product development projects[12]. - Financing costs decreased by approximately 50.5% to about RMB 2.2 million, attributed to lower overall bank borrowing rates[13]. - The group’s total other income, gains, expenses, and losses for the six months ended June 30, 2024, amounted to RMB 9,474,000, compared to RMB 13,643,000 in the same period of 2023[68]. - The company reported a total equity attributable to owners of the company of RMB 783,567,000 as of June 30, 2024, up from RMB 778,048,000 at the end of 2023, reflecting a slight increase of 0.7%[56]. - The net cash used in investing activities was RMB 21,753,000 for the six months ended June 30, 2024, compared to RMB 2,418,000 in the same period of 2023, indicating a substantial increase in investment outflows[58]. Cash Flow and Financial Position - As of June 30, 2024, the group's cash and bank balances totaled approximately RMB 397.5 million, a decrease of about 8.0% from RMB 432.1 million as of December 31, 2023[19]. - The group's total bank borrowings amounted to approximately RMB 280.0 million as of June 30, 2024, down from RMB 310.0 million as of December 31, 2023[19]. - The group's asset-liability ratio was approximately 85.1% as of June 30, 2024, compared to 82.5% as of December 31, 2023[21]. - The group had capital commitments for property, plant, and equipment amounting to approximately RMB 46.7 million as of June 30, 2024, down from RMB 67.4 million as of December 31, 2023[26]. - The net cash generated from operating activities was RMB 19,787,000 for the six months ended June 30, 2024, compared to a cash usage of RMB 23,055,000 in the same period of 2023[58]. - Cash and cash equivalents decreased by RMB 35,855,000 during the six months ended June 30, 2024, compared to an increase of RMB 50,390,000 in the same period of 2023[58]. - The company’s restricted bank deposits and balances increased significantly to RMB 184,146,000 from RMB 65,672,000, marking a growth of about 179%[54]. Market Outlook and Strategy - The outlook for the optical fiber industry in the second half of 2024 is optimistic, driven by the continuous deployment of 5G networks and new information technologies, with expected growth in demand[29]. - By 2025, the demand for optical fiber and cables in China's data centers is projected to reach 120 million core kilometers, creating new market opportunities[29]. - The company plans to stabilize and expand its market share in the telecom operator segment while increasing investments in the non-operator market[29]. - The company is focusing on product development opportunities that align with market trends and new demands, aiming to optimize product structure[29]. - The optical fiber and cable industry is expected to benefit from national policies supporting development and innovation, providing a clear market outlook[29]. - The company aims to strengthen its cost control capabilities to enhance competitiveness and profitability[29]. Corporate Governance and Compliance - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2024[4]. - The company has adopted corporate governance practices to enhance management effectiveness and transparency[38]. - The company has complied with all relevant laws and regulations without any significant non-compliance issues during the reporting period[44]. - The audit committee consists of three independent non-executive directors, with Mr. Chen Jirong as the chairman[40]. - There are no contingent liabilities or litigation against the group as of the report date[41]. - The group has maintained sufficient public float during the reporting period and up to the report date[37]. Employee and Management Information - As of June 30, 2024, the group had approximately 320 employees, with employee costs amounting to RMB 15.6 million for the reporting period[27]. - Total compensation for directors and key management personnel was RMB 1,984,000 for the six months ended June 30, 2024, a decrease from RMB 2,186,000 in 2023, indicating a decline of approximately 9.23%[91]. - Salary, wages, and allowances for the reporting period were RMB 1,861,000, down from RMB 2,060,000 in the previous year, marking a decrease of about 9.66%[91]. - Contributions to retirement benefit plans were RMB 123,000, slightly down from RMB 126,000 in the previous year, showing a decrease of approximately 2.38%[91]. Investments and Shareholding - Pacific Mind Development Limited holds 840 million shares, representing 51.65% of the total shares, under a family trust established by Ms. Yu Min[32]. - The group held significant investments as of June 30, 2024, including a 49% stake in Jiangsu Southern Fiber Optics Technology Co., Ltd. with an investment of approximately RMB 73.5 million, generating a share of profit of about RMB 5.2 million[45]. - The group also owns a 51% stake in Jiangsu Yingke Optical Technology Co., Ltd. with an investment of approximately RMB 38.3 million, resulting in a share of profit of about RMB 1.7 million[45]. - The fair value of the investment in Source Photonics Holdings (Cayman) Limited was approximately RMB 154.97 million, representing about 10.7% of the group's total assets as of June 30, 2024[46]. - The group confirmed that 70% to 90% of the invoice amounts can be collected upon issuance of invoices, with a credit period of up to six months granted to major telecom operators in China[64]. Subsequent Events and Other Information - No significant subsequent events have occurred after June 30, 2024, up to the date of this report[92]. - The group did not have any transfers between fair value levels during the six months ended June 30, 2024[87]. - The group has entered into a formal sale agreement for non-listed equity investments, which is pending completion as of the report date[88].

Financial Performance - Total revenue decreased by approximately 3.0% to about RMB 256.8 million compared to RMB 264.7 million for the same period last year[1] - Gross profit increased by approximately 30.4% to about RMB 34.6 million, up from RMB 26.5 million year-on-year[1] - Gross profit margin improved from approximately 10.0% to about 13.5%[1] - Total profit and comprehensive income amounted to approximately RMB 5.5 million, compared to RMB 2.1 million for the same period last year[1] - The company reported a net profit per share of RMB 0.003, compared to RMB 0.001 for the same period last year[2] - The group recognized other income, gains, expenses, and losses netting RMB 9,474,000 for the six months ended June 30, 2024, down from RMB 13,643,000 in the same period of 2023, representing a decline of approximately 30%[14] - The bank interest income increased to RMB 3,557,000 for the six months ended June 30, 2024, compared to RMB 2,890,000 in the previous year, marking an increase of around 23%[14] - The group reported a corporate income tax expense of RMB 2,268,000 for the six months ended June 30, 2024, compared to a tax credit of RMB 2,744,000 in the same period of 2023[16] - For the six months ended June 30, 2024, the profit attributable to the company's owners was RMB 5,519,000 (an increase from RMB 2,148,000 in 2023), representing a significant growth[18] - The company recorded a profit and total comprehensive income of approximately RMB 5.5 million, compared to RMB 2.1 million for the six months ended June 30, 2023[42] Revenue Breakdown - The group's revenue from the sale of optical cables, optical fiber distribution network equipment, and color-coated steel sheets amounted to RMB 256,750,000 for the six months ended June 30, 2024, compared to RMB 264,725,000 for the same period in 2023, reflecting a decrease of approximately 3%[12] - The revenue from the manufacturing and sales of optical cables and optical fiber distribution network equipment was RMB 245,801,000 for the six months ended June 30, 2024, up from RMB 228,570,000 in the previous year, indicating an increase of about 7.5%[12] - Revenue from the optical cable and fiber distribution network equipment segment was approximately RMB 245.8 million, an increase of about 7.5% year-on-year, accounting for approximately 95.7% of total revenue[31] - Revenue from the color-coated steel plate segment decreased by approximately 69.7% to RMB 10.9 million, representing about 4.3% of total revenue[31] Expenses and Costs - Sales and distribution expenses increased by approximately 32.4% to RMB 11.1 million, primarily due to rising freight costs and expenses related to market expansion[35] - Research costs decreased by approximately 32.9% to RMB 13.4 million, mainly due to the completion of certain product development projects[37] - The cost of inventory recognized as cost of sales decreased to RMB 222,146,000 from RMB 238,188,000, indicating improved cost management[19] - Total employee costs decreased to RMB 15,611,000 from RMB 16,619,000, reflecting a reduction in salary and retirement benefit contributions[19] - Financing costs were approximately RMB 2.2 million, a decrease of about 50.5% compared to RMB 4.4 million for the six months ended June 30, 2023, attributed to lower overall bank borrowing rates[38] Assets and Liabilities - Trade receivables and notes receivable increased to RMB 413.1 million from RMB 342.5 million[4] - Current assets increased to RMB 892.9 million from RMB 773.4 million[4] - Non-current assets rose to RMB 557.7 million from RMB 646.5 million[4] - Trade receivables as of June 30, 2024, amounted to RMB 407,809,000, up from RMB 339,620,000 as of December 31, 2023, indicating increased sales activity[22] - Trade payables increased to RMB 162,149,000 from RMB 132,413,000, suggesting higher procurement activities[25] - The group had bank borrowings of approximately RMB 280 million as of June 30, 2024, down from RMB 310 million at the end of 2023[27] - The group's asset-liability ratio was approximately 85.1% as of June 30, 2024, compared to 82.5% as of December 31, 2023[46] - The group had interest-bearing bank borrowings of approximately RMB 280.0 million as of June 30, 2024, down from RMB 310.0 million as of December 31, 2023[44] Dividends and Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2024[1] - The board of directors does not recommend the payment of an interim dividend for the six months ending June 30, 2024[57] - The company has maintained sufficient public float during the reporting period and up to the announcement date[58] - The interim report will be sent to shareholders by September 26, 2024, and will be available on the stock exchange and the company's website[65] Market Outlook and Strategy - The demand for optical fiber cables is expected to gradually recover in the second half of 2024, driven by the upgrading of backbone networks and the recovery of overseas operators' inventory levels[56] - By 2025, the demand for optical fiber cables in China's data centers is projected to reach 120 million core kilometers, creating new market opportunities for the optical fiber cable industry[55] - The development of the optical fiber cable industry is supported by national policies, including the "14th Five-Year" plans for information technology and digital economy development, providing a clear market outlook[55] - The company plans to stabilize and expand its market share in the telecommunications sector while increasing investments in the non-telecommunications market[56] - The company aims to enhance product structure optimization and strengthen cost control capabilities to improve competitiveness and profitability[56] Corporate Actions - The company entered into a formal sale agreement to sell 8,235,293 shares of Source Photonics Holdings for approximately $21.56 million (equivalent to about RMB 156.6 million)[64] - The company announced a significant sale event that requires shareholder approval at a special meeting scheduled for September 9, 2024[65] - There were no significant acquisitions or disposals of subsidiaries and associates during the reporting period[63] - No major acquisitions or sales occurred during the reporting period[65] - There have been no significant events affecting the group since the end of the reporting period up to the date of this announcement[65]

Financial Performance - Total revenue decreased by approximately 17.6% to about RMB 522.3 million (2022: RMB 633.7 million) [9] - Gross profit increased by approximately 23.2% to about RMB 70.7 million (2022: RMB 57.4 million) [9] - Gross margin increased by approximately 49.5% to 13.5% (2022: 9.1%) [9] - Profit attributable to owners of the company for the year amounted to approximately RMB 5.2 million (2022: loss of RMB 8.1 million) [9] - The group's total revenue decreased by approximately 17.6% to about RMB 522.3 million for the year ended December 31, 2023, compared to RMB 633.7 million in 2022 [14] - Gross profit increased by approximately 23.2% to about RMB 70.7 million, up from RMB 57.4 million in 2022 [14] - The profit attributable to the company's owners for the year was approximately RMB 5.2 million, a significant recovery from a loss of RMB 8.1 million in 2022 [14] - Earnings per share for the year were approximately RMB 0.003, compared to a loss per share of RMB 0.01 in 2022 [14] Revenue Segmentation - Revenue from the optical cable and fiber distribution network equipment segment was approximately RMB 478.1 million, a decrease of about 16.1% from RMB 569.9 million in 2022, accounting for approximately 91.6% of total revenue [24] - Revenue from the color-coated steel plate segment was approximately RMB 44.1 million, down about 30.8% from RMB 63.8 million in 2022, representing about 8.4% of total revenue [24] Market Outlook - The company anticipates a surge in demand for optical fiber and cables driven by the deployment of 400G backbone networks and the construction of gigabit cities [15] - The penetration rate of gigabit fiber networks remains low at 25.7% among fixed broadband users, indicating significant growth potential [17] - The company plans to enhance its product offerings in response to the new demands from AI and cloud computing, focusing on developing new optical fiber and cable products [19] Cost Management - The group aims to strengthen cost control measures to improve competitiveness and profitability amid uncertainties in raw material prices and logistics stability [21] - The group's cost of sales for the year ended December 31, 2023, was approximately RMB 451.6 million, a decrease of about 21.6% compared to RMB 576.3 million for the year ended December 31, 2022 [25] - Gross profit increased by approximately 23.2% to about RMB 70.7 million, with a gross margin of approximately 13.5%, up from 9.1% in the previous year, due to a significant decrease in raw material costs [26] Liabilities and Assets - Total assets as of December 31, 2023, were approximately RMB 1,419.9 million (2022: RMB 1,484.3 million) [10] - Total liabilities as of December 31, 2023, were approximately RMB 641.8 million (2022: RMB 711.4 million) [10] - The group’s total liabilities to equity ratio improved to approximately 82.5% as of December 31, 2023, compared to 92.1% in the previous year [44] Employee and Operational Metrics - The group generated employee costs of approximately RMB 33.6 million during the reporting period, a decrease from RMB 36.5 million in 2022 [56] - The group has approximately 310 employees as of December 31, 2023, down from 320 in 2022 [56] Corporate Governance - The company is committed to maintaining high standards of corporate governance, which it believes can enhance management effectiveness and efficiency, increase transparency, strengthen risk management, and protect shareholders' interests [155] - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee various aspects of governance [174] - The board has mechanisms in place to ensure independent viewpoints are available for decision-making, and it has conducted an annual performance evaluation [169] Shareholder Information - The board does not recommend the payment of a final dividend for the year ended December 31, 2023 (2022: none) [9] - The company's distributable reserves as of December 31, 2023, amounted to approximately RMB 263,731,000 [114] - The company has a significant ownership structure, with key individuals holding substantial stakes, including 854,784,000 shares (52.56%) held by Mr. Shi Ming [131] Risk Management - The board is responsible for maintaining effective risk management and internal control systems to protect shareholder interests [199] - The board reviews the effectiveness of the group's risk management and internal control systems annually [200] Future Plans and Commitments - The company has no future significant investment plans disclosed in the report [55] - The company will continue to review and enhance its corporate governance practices to ensure compliance with the corporate governance code [155]

Financial Performance - Total revenue decreased by approximately 17.6% to RMB 522.3 million for the year ended December 31, 2023, compared to RMB 633.7 million in 2022[2] - Gross profit increased by approximately 23.2% to RMB 70.7 million, with a gross margin of approximately 13.5%, up from 9.1% in 2022[2] - The profit attributable to the owners of the company for the year was approximately RMB 5.2 million, a turnaround from a loss of RMB 8.1 million in 2022[2] - The company did not recommend the payment of a final dividend for the year ended December 31, 2023, compared to no dividend in 2022[2] - The company's total revenue for the year ended December 31, 2023, was RMB 522,261,000, a decrease of 17.6% from RMB 633,705,000 in 2022[17] - The gross profit for the manufacturing and sales of optical cables and optical fiber distribution network equipment was RMB 70,815,000, an increase of 20.9% from RMB 58,553,000 in 2022[19] - The company recorded a profit of approximately RMB 5.2 million for the year ended December 31, 2023, compared to a loss of approximately RMB 8.1 million in the same period of 2022[58] Assets and Liabilities - Non-current assets increased to RMB 646.5 million in 2023 from RMB 634.4 million in 2022, primarily due to an increase in property, plant, and equipment[6] - Current assets decreased to RMB 773.4 million in 2023 from RMB 849.9 million in 2022, with a notable decline in trade receivables from RMB 423.8 million to RMB 342.5 million[6] - Current liabilities decreased to RMB 538.0 million in 2023 from RMB 663.9 million in 2022, reflecting a reduction in trade payables[8] - The company’s total assets decreased to RMB 881.9 million in 2023 from RMB 820.4 million in 2022, indicating a shift in asset management strategy[8] - The company reported a net cash position of RMB 247.8 million in cash and cash equivalents as of December 31, 2023, compared to RMB 229.9 million in 2022[6] - Trade receivables decreased to RMB 348.6 million as of December 31, 2023, from RMB 430.4 million in 2022[29] - The net amount of trade receivables was RMB 339.6 million as of December 31, 2023, compared to RMB 423.8 million in 2022[31] - Trade payables decreased to RMB 132.4 million as of December 31, 2023, from RMB 154.5 million in 2022[34] - Bank borrowings increased to RMB 310 million as of December 31, 2023, compared to RMB 276.6 million in 2022[36] - The group's asset-liability ratio as of December 31, 2023, was approximately 82.5%, down from 92.1% in 2022[65] Costs and Expenses - The total cost of goods sold was RMB 451,588,000, down from RMB 576,341,000 in 2022[26] - The company's employee costs totaled RMB 33,596,000, a decrease from RMB 36,548,000 in the previous year[26] - The company's selling and distribution expenses were approximately RMB 19.5 million, slightly down by about 0.5% from RMB 19.6 million in the previous year[50] - Management expenses decreased by approximately 23.0% to about RMB 35.3 million, down from RMB 45.9 million in the previous year due to stricter cost control measures[51] - Research costs fell by approximately 12.9% to about RMB 33.9 million, down from RMB 38.9 million in the previous year, mainly due to the completion of certain product development projects[52] - The company reported a net financing cost of RMB 9,286,000 for the year, up from RMB 7,689,000 in 2022[23] - The company's financing costs increased by approximately 20.8% to about RMB 9.3 million, up from RMB 7.7 million in the previous year, primarily due to rising bank borrowing and general lending rates[54] Market and Strategic Focus - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming fiscal year[2] - The penetration rate of fiber optic access (FTTH) in China reached 96.3% by the end of 2023, but only 25.7% of fixed broadband users had access speeds of 1000 Mbps or higher, indicating significant growth potential[82] - The number of 5G factories in China has increased to 300 since the issuance of the "5G Fully Connected Factory Construction Guidelines" in 2022, highlighting the ongoing investment in 5G infrastructure[83] - The company anticipates that the demand for new generation optical fiber cables will surge due to the construction of 400G backbone networks and the rise of smart home applications[79] - The company plans to enhance its competitive strength and profitability by controlling raw material prices and exploring new business growth points in data centers, industrial internet, and new energy vehicles[85] - The company aims to leverage opportunities in the digital economy and the simultaneous upgrade of market and technology in the optical communication sector in 2024[87] - The company will continue to focus on expanding its existing product market share and developing new optical fiber and cable products tailored for AI and computing power applications[85] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with applicable provisions as of December 31, 2023[91] - The audit committee has reviewed the consolidated financial statements for the year ended December 31, 2023, and confirmed compliance with relevant accounting standards[94] - The company did not issue any stock options or rewards during the reporting period due to the exhaustion of the authorized limit for stock options in 2022[79] - The annual general meeting of the company will be held on June 18, 2024[90] - The annual report for 2023 will be available on April 29, 2024, or earlier on the stock exchange and the company's website[100]

Financial Performance - Total revenue decreased by approximately 20.8% to about RMB 264.7 million for the six months ended June 30, 2023, compared to RMB 334.3 million for the same period in 2022[6]. - Gross profit increased by approximately 112.7% to about RMB 26.5 million, with a gross margin rising from approximately 3.7% to about 10.0%[11]. - The total profit and comprehensive income amounted to approximately RMB 2.1 million, a significant improvement from a loss of RMB 19.6 million for the same period in 2022[6]. - Revenue from the optical cable and fiber distribution network equipment segment was approximately RMB 228.6 million, down about 25.1% year-on-year, contributing approximately 86.3% of total revenue[9]. - Revenue from the color-coated steel plate segment increased by approximately 23.1% to about RMB 36.2 million, accounting for approximately 13.7% of total revenue[9]. - The company reported a net profit of RMB 2.148 million for the six months ended June 30, 2023, compared to a net loss of RMB 19.590 million in the same period of 2022[75]. - The company’s earnings per share for the six months ended June 30, 2023, was RMB 0.001, compared to a loss per share of RMB (0.013) in the same period of 2022[75]. Expenses and Costs - Selling and distribution expenses decreased by approximately 28.8% to about RMB 8.4 million, reflecting the decline in overall revenue[13]. - Management expenses decreased by approximately 13.2% to about RMB 18.6 million, consistent with the overall operational trend[14]. - Research costs were approximately RMB 20.0 million, a slight decrease of about 2.0% compared to the previous year[15]. - Financing costs increased to RMB 4,357,000 for the six months ended June 30, 2023, compared to RMB 3,554,000 in the previous year, reflecting a rise in borrowing costs[96]. - For the six months ended June 30, 2023, the cost of inventory recognized as cost of sales was RMB 238,188, a decrease of 26% from RMB 321,863 in the same period of 2022[100]. Cash Flow and Financial Position - As of June 30, 2023, the group's cash and bank deposits totaled approximately RMB 461.5 million, an increase of about 5.1% from RMB 439.0 million as of December 31, 2022[24]. - The company's net cash generated from operating activities for the six months ended June 30, 2023, was a negative RMB 23,055,000, compared to a positive RMB 30,991,000 for the same period in 2022[84]. - Cash and cash equivalents at the end of June 30, 2023, were RMB 306,004,000, a decrease from RMB 326,882,000 at the end of 2022[84]. - The company reported a net cash increase of RMB 50,390,000 for the six months ended June 30, 2023, compared to a decrease of RMB 44,590,000 in the same period of 2022[84]. - The group recorded an income tax credit of approximately RMB 2.7 million during the reporting period, compared to RMB 6.3 million for the six months ended June 30, 2022, primarily due to the recognition of deferred tax assets from tax losses[19]. Assets and Liabilities - The group had interest-bearing bank borrowings of approximately RMB 360.0 million as of June 30, 2023, compared to RMB 276.6 million as of December 31, 2022[24]. - The asset-liability ratio was approximately 95.0% as of June 30, 2023, up from 92.1% as of December 31, 2022[28]. - Total liabilities decreased from RMB 663,910,000 as of December 31, 2022, to RMB 609,096,000 as of June 30, 2023, indicating a reduction of approximately 8.25%[79]. - The company's equity attributable to owners increased to RMB 774,998,000 as of June 30, 2023, from RMB 772,850,000 as of December 31, 2022, showing a slight increase of 0.15%[79]. - Trade receivables amounted to RMB 388,678 as of June 30, 2023, down from RMB 430,437 as of December 31, 2022, reflecting a decrease of approximately 10%[103]. Investments and Shareholder Information - The company holds a 49% stake in Jiangsu Nanfang Fiber Optic Technology Co., Ltd., with an investment totaling approximately RMB 73.5 million, generating a share of profit of about RMB 7.7 million during the reporting period[61]. - The investment in Jiangsu Yingke Optical Technology Co., Ltd. amounts to approximately RMB 76.5 million, with a share of profit of about RMB 2.7 million and dividends received of approximately RMB 14.7 million[61]. - Major shareholders hold significant stakes, with Ms. Yu Ru Min owning 51.65% of the shares through a trust[44]. - As of June 30, 2023, Pacific Mind Development Limited holds 840,000,000 shares, representing 51.65% of the total shares[47]. - The company has maintained sufficient public float during the reporting period and up to the report date[51]. Corporate Governance and Compliance - The board does not recommend the payment of an interim dividend for the six months ended June 30, 2023[6]. - The company is committed to high levels of corporate governance, enhancing management effectiveness and transparency[52]. - The company has not identified any significant non-compliance with relevant laws and regulations as of June 30, 2023[60]. - The company’s subsidiaries were recognized as "High-tech Enterprises," allowing them to enjoy a reduced corporate income tax rate of 15%[98]. - The group has no transfers between fair value levels during the six months ended June 30, 2023[118]. Market and Industry Outlook - The domestic optical fiber and cable industry is facing order shortages and low operating rates, primarily due to the lack of project initiations by China Mobile and China Telecom[39]. - China Mobile's June 2023 tender for 108.2 million core kilometers of ordinary optical cables is expected to boost industry confidence and demand significantly[39]. - The Ministry of Industry and Information Technology emphasizes the need to enhance backbone network capacity and accelerate the construction of 5G and gigabit optical networks[40]. - Non-telecom markets are increasingly influencing the optical fiber and cable market, with rising demand for power optical cables driven by smart grid construction[41]. - The company anticipates a balanced supply-demand state for optical cables in the short term, with orders expected to accelerate in the second half of 2023[41].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部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。 Nanfang Communication Holdings Limited 南方通信控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1617） 截至二零二三年六月三十日止六個月之 中期業績公告 摘要 截至二零二三年六月三十日止六個月，本集團經營業績如下： • 總收入下降約20.8%至約人民幣264.7百萬元（截至二零二二年六月三十日止 六個月：約人民幣334.3百萬元）。 • 毛利增加約112.7%至約人民幣26.5百萬元（截至二零二二年六月三十日止六 個月：約人民幣12.5百萬元）。 • 毛利率由約3.7%增加至約10.0%。 • 利潤及綜合收益總額約人民幣2.1百萬元（截至二零二二年六月三十日止六 ...

Financial Performance - Total revenue increased by approximately 44.6% to about RMB 633.7 million (2021: RMB 438.3 million) [10] - Gross profit increased by approximately 343.0% to about RMB 57.4 million (2021: RMB 13.0 million) [10] - Gross margin increased by approximately 206.4% to 9.1% (2021: 3.0%) [10] - The company reported a loss attributable to owners of approximately RMB 8.1 million (2021: RMB 59.9 million) [10] - The total revenue for the year ended December 31, 2022, increased by 44.6% to approximately RMB 633.7 million, compared to RMB 438.3 million in 2021 [15] - Gross profit surged approximately 343.0% to about RMB 57.4 million, with a gross margin of approximately 9.1%, up from 3.0% in the previous year [25] - The overall financial performance indicates a positive trend in sales and profitability, suggesting effective management strategies and market expansion efforts [74] Assets and Liabilities - Total assets as of December 31, 2022, were RMB 1,484.3 million, an increase from RMB 1,359.6 million in 2021 [11] - Total liabilities increased to RMB 711.4 million from RMB 592.5 million in 2021 [11] - The group's debt-to-asset ratio as of December 31, 2022, was approximately 92.1%, up from about 77.2% in 2021 [42] - As of December 31, 2022, the group's cash and bank balances totaled approximately RMB 439.0 million, a slight increase of about 0.7% from RMB 435.9 million as of December 31, 2021 [38] Production and Capacity - The company has a total production capacity of approximately 15 million core kilometers [7] - The company operates two production facilities in Jiangsu Province, covering a total area of approximately 76,900 square meters [7] Research and Development - Research costs increased by approximately 34.4% to RMB 38.9 million, driven by the allocation of more resources to enhance product quality and develop new products [30] - The company has a significant focus on research and development of new products, particularly in the optical cable sector [101] Customer Relationships - The company has established stable long-term relationships with major customers in the telecommunications sector [5] - Approximately 88.9% of the trade receivables as of December 31, 2022, were from major telecommunications network operators in China with good repayment records, compared to 83.8% in 2021 [47] Expenses and Costs - The sales and distribution expenses rose by approximately 8.8% to RMB 19.6 million, attributed to increased freight costs due to business scale growth [27] - The financing costs decreased by approximately 10.7% to RMB 7.7 million, primarily due to a decline in bank borrowing rates [31] Investments and Joint Ventures - The company holds a 49% stake in Southern Fiber, with a total investment of approximately RMB 73.5 million as of December 31, 2022, and recognized a share of profits of about RMB 11.6 million for the year [76] - The company also holds a 51% stake in Yingke Optical, with a total investment of approximately RMB 76.5 million as of December 31, 2022, and recognized a share of profits of about RMB 9.2 million for the year, up from RMB 4.6 million in 2021 [76] - The group's share of profits from a joint venture for the year ended December 31, 2022, was approximately RMB 9.2 million, an increase of about 100.5% compared to RMB 4.6 million for the year ended December 31, 2021 [33] Governance and Compliance - The company has adopted the Corporate Governance Code as its own corporate governance practices and has complied with applicable provisions as of December 31, 2022 [156] - The board of directors has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee various aspects of the group's affairs and assist the board in fulfilling its responsibilities [176] - The company has received annual confirmations of independence from all independent non-executive directors, maintaining their status as independent individuals [165] Employee Relations - The group has approximately 320 employees as of December 31, 2022, with employee costs amounting to approximately RMB 36.5 million, a decrease from RMB 50.5 million in 2021 [54] - The total number of employees is 315, with 66% male (209) and 34% female (106) [191] - The company has a total of 5 senior management personnel, with 80% male (4) and 20% female (1) [191] Environmental Commitment - The group is committed to reducing environmental impact and complying with relevant environmental laws and regulations [62] Related Party Transactions - The group has entered into a 15-year optical fiber supply agreement with Southern Optical Fiber, which is considered a related party transaction [65] - The independent auditor confirmed that all disclosed related party transactions were conducted in accordance with the company's pricing policy and did not exceed the annual limits set by the company [73] Future Outlook - The company plans to explore new business growth points and adjust its product structure, particularly in the new energy vehicle and aerospace sectors [18] - Future outlook and performance guidance were not explicitly mentioned in the available documents, indicating a need for further information [105]