Core Viewpoint - The 2025 TrendBank (Yinchuan) Long-duration Energy Storage Industry Conference will be held on July 14-15, 2025, in Yinchuan, aiming to discuss the future development of the long-duration energy storage industry and promote knowledge sharing within the sector [1][2]. Conference Details - **Conference Name**: 2025 TrendBank (Yinchuan) Long-duration Energy Storage Industry Conference [2] - **Date**: July 14-15, 2025 [2] - **Location**: Yinchuan City, Xiqing District, at the Yinchuan Lida Shenhang International Hotel [2] - **Expected Attendance**: Over 200 participants [2] - **Organizers**: - Guiding Unit: Yinchuan City Xiqing District People's Government, Su-Yin Industrial Park Management Committee [2] - Main Organizer: TrendBank [2] - Co-organizers include Shanghai Electric Energy Storage Technology Co., Ltd. and others [2]. Agenda Overview - **July 14 Morning**: Visit to Su-Yin Industrial Park [3] - **July 14 Afternoon**: Opening Ceremony [3] - **July 15 Morning**: Specialized sessions on Compressed Air, Molten Salt, and Hydrogen Storage [3] - **July 15 Afternoon**: Specialized session on Flow Batteries [3] - **July 15 Evening**: Closing Ceremony Dinner [3] Su-Yin Industrial Park Introduction - The Su-Yin Industrial Park is a collaborative initiative between Jiangsu and Ningxia provinces, focusing on regional coordinated development and cooperation [4]. - Established in November 2018, the park covers an area of approximately 53 square kilometers and aims to develop industries such as new energy materials, healthcare, and equipment manufacturing [5]. Investment and Services - The park offers a "one-stop service center" to facilitate business operations, including the issuance of business licenses and property registrations [6]. - The focus is on creating a manufacturing industry chain for energy storage batteries and fostering a cluster of new energy industries [5]. Conference Participation - The conference is open for free registration to all industry participants, promoting the sharing of knowledge, technology, and resources in the long-duration energy storage sector [15]. - Attendees must register using their mobile phone numbers to complete on-site check-in and access conference materials [16].

Core Viewpoint - The article highlights the upcoming "2025 TrendBank (Yinchuan) Long-term Energy Storage Industry Conference" scheduled for July 2-3, 2025, in Yinchuan, which aims to promote the development of the long-term energy storage industry and facilitate collaboration among industry players [2][9]. Conference Details - The conference will be held at the Yinchuan Lida Deep Hang International Hotel, with an expected attendance of over 300 participants [9]. - It is organized by TrendBank in collaboration with Shanghai Electric Energy Storage Technology Co., Ltd., and supported by various local government and industry associations [10][9]. - The event will feature the release of the "2025 TrendBank Long-term Energy Storage Industry Development Blue Book" [2]. Key Speakers and Topics - Notable speakers include Zhu Jun'e, Deputy General Manager of Beijing Hydrogen Pu Chuang Neng Technology Co., Ltd., who will present on the development and application of fuel cell stacks for high-power generation [3][8]. - The conference agenda includes specialized sessions on compressed air, molten salt, hydrogen storage, and flow batteries, with various industry experts sharing insights [10][18]. Industry Context - Beijing Hydrogen Pu Chuang Neng Technology Co., Ltd. is recognized for its innovation in hydrogen energy technology, focusing on fuel cell and hydrogen production equipment [7][8]. - The company has established itself as a leader in the industry, having developed products ranging from hundreds of watts to megawatts in power capacity and holding numerous patents and published research [6][8]. Venue and Infrastructure - The Su-Yin Industrial Park, where the conference will take place, is a strategic initiative aimed at fostering regional cooperation and development in new energy and related sectors [11][12]. - The park focuses on developing a manufacturing ecosystem for energy storage batteries and other new energy technologies, aligning with national and local industrial goals [13][14].

Core Viewpoint - The article highlights the upcoming "2025 TrendBank (Yinchuan) Long-term Energy Storage Industry Conference" scheduled for July 2-3, 2025, in Yinchuan, which aims to promote the development of long-term energy storage technologies and industry collaboration [3][11]. Group 1: Conference Details - The conference will be held at the Yinchuan Lida Deep Hang International Hotel and is open to the entire industry with free admission [3][11]. - The event will feature the release of the "2025 TrendBank Long-term Energy Storage Industry Development Blue Paper" in collaboration with the Hangzhou Energy Storage Industry Association [3]. - The conference is expected to attract over 300 participants and is guided by the Yinchuan Municipal Government and the Su-Yin Industrial Park [11][12]. Group 2: Key Speakers and Topics - Notable speakers include Yue Liangchen, the Chief Engineer of the New Energy R&D Department at Xizi Clean Energy Equipment Manufacturing Co., who will present on "Key Technologies in Molten Salt Thermal Storage and Coupled Compressed Air Energy Storage Systems" [4]. - The agenda includes specialized sessions on compressed air, molten salt, hydrogen storage, and flow batteries, with discussions on technological advancements and commercialization challenges [19][20]. Group 3: Su-Yin Industrial Park Overview - The Su-Yin Industrial Park, established in November 2018, focuses on developing new energy, new materials, and equipment manufacturing industries, with a total planned area of approximately 53 square kilometers [14][15]. - The park aims to create a manufacturing chain for energy storage batteries and foster a cluster of new energy industries, including lithium-ion and sodium-ion battery production [15][16].

Core Viewpoint - The article emphasizes the importance of the long-duration energy storage industry and highlights the upcoming 2025 TrendBank Long-Duration Energy Storage Industry Conference, which aims to foster collaboration among industry players and recognize outstanding contributions in the field [2][4][5]. Group 1: Conference Details - The 2025 TrendBank Long-Duration Energy Storage Industry Conference will be held on July 2-3 in Yinchuan, Ningxia, in collaboration with Shanghai Electric Storage Technology Co., Ltd. The event is open to the entire industry and free to attend [2]. - During the conference, the "2025 TrendBank Long-Duration Energy Storage Industry Development Blue Book" will be released for free [2]. Group 2: Industry Recognition - The conference will feature awards such as "Potential Cities for Long-Duration Energy Storage," "Industry Technological Strength," "Industry Product Strength," "Industry Market Strength," and "Industry Rising Star Award" to recognize exemplary cities and enterprises in the long-duration energy storage sector [5]. - The awards aim to promote a healthy ecosystem focused on technology and effectiveness, encouraging industry players to excel and drive technological breakthroughs [4]. Group 3: Award Nominees - **Potential Cities for Long-Duration Energy Storage** include Yinchuan, Quanzhou, Yumen, and others, totaling 20 cities recognized for their potential [6]. - **Industry Market Strength Nominees** feature companies such as China Energy Construction Digital Technology Group and Shanghai Electric Storage Technology Co., Ltd. [7]. - **Industry Product Strength Nominees** include Zhejiang Huayong Technology Co., Ltd. and Shenzhen Zhonghe Storage Technology Co., Ltd. among others [8]. - **Industry Technological Strength Nominees** consist of companies like China National Offshore Oil Corporation and Shanghai Electric Turbine Factory [9].

Core Viewpoint - The article highlights the upcoming 2025 TrendBank Long-term Energy Storage Industry Conference, focusing on advanced technologies such as flow batteries, compressed air storage, and hydrogen storage, aiming to foster discussions among industry stakeholders [3][11]. Conference Details - The conference will take place on July 2-3, 2025, at the Yinda Deep Hang International Hotel in Yinchuan, with an expected attendance of over 300 participants [11][12]. - The event is organized by TrendBank in collaboration with Shanghai Electric Energy Storage Technology Co., and supported by various local government and industry associations [10][11]. Key Participants - New Hydrogen Power Technology Co., Ltd. and Ningxia Hydrogen Energy Technology Co., Ltd. are the main sponsors, showcasing their solid-state hydrogen storage products and engaging in discussions [5][10]. - The conference will feature a series of presentations and discussions from industry experts, including a release of the "2025 TrendBank Long-term Energy Storage Industry Development Blue Book" [3][12]. Industry Focus - The conference will cover various topics related to long-term energy storage, including the development and application of solid-state hydrogen storage systems, which are crucial for safe and efficient hydrogen storage and transportation [6][8]. - New Hydrogen Power is noted for its significant market share in hydrogen fuel cell technology for industrial vehicles, exceeding 95%, and aims to promote its innovative solutions at the conference [6][7]. Agenda Highlights - The agenda includes keynote speeches, specialized sessions on compressed air and hydrogen storage, and discussions on flow battery technologies [12][19]. - Notable speakers include former officials from the National Energy Administration and experts from leading universities and companies in the energy sector [17][19]. Registration Information - Registration fees for the conference are set at RMB 2000 per person, with early bird discounts available [20].

Revenue and Profitability - The Group's revenue decreased to approximately RMB179.8 million for the six months ended 31 December 2024, down from approximately RMB195.9 million for the same period in 2023, representing a decline of about 8.3%[19] - Revenue for the six months ended December 31, 2024, was RMB 179,825,000, a decrease of 8.2% compared to RMB 195,916,000 for the same period in 2023[95] - The Group recorded a loss of approximately RMB40.3 million during the Reporting Period, compared to a loss of RMB38.1 million for the same period in 2023[13] - Loss before income tax for the period was RMB 40,284,000, compared to a loss of RMB 38,127,000 in the same period last year[95] - The company reported a loss for the period attributable to owners of the Company of RMB 40,311,000 for the six months ended December 31, 2024, compared to a loss of RMB 38,127,000 for the same period in 2023, representing an increase in loss of approximately 5.7%[96] - Total comprehensive loss for the period was RMB 40,960,000, slightly higher than RMB 40,312,000 in the previous year[95] Gross Profit and Margins - Gross profit for the Reporting Period was approximately RMB10.3 million, with a gross profit margin of 5.7%, compared to RMB6.6 million and 3.4% respectively for the six months ended 31 December 2023[13] - The gross profit margin for the Group increased to approximately 5.7% for the six months ended December 31, 2024, compared to approximately 3.4% for the same period in 2023, mainly driven by the food and beverage business[30] - The Group's gross margin for food business slightly decreased from 3.4% in the previous year to 3.1% during the Reporting Period[19] Business Segments and Operations - Revenue from the newly commenced food and beverage business in Zhuhai amounted to RMB10.3 million, with no revenue reported for the same period in 2023[20] - The food business generated revenue of approximately RMB 169.5 million, accounting for 94.2% of total revenue for the six months ended December 31, 2024[25] - The Group offered over 100 types of dried seafood, 30 types of algae and fungi, and 60 types of seafood snacks during the Reporting Period, aiming to differentiate itself in the market[14] - The Group sells its products through various channels, including supermarkets, trading companies, convenience stores, and e-commerce retailers[18] Financial Position and Cash Flow - The Group's net current assets decreased from approximately RMB 199.2 million as of June 30, 2024, to approximately RMB 158.4 million as of December 31, 2024[37] - As of December 31, 2024, cash and cash equivalents were approximately RMB 7.3 million, down from approximately RMB 60.9 million as of June 30, 2024[38] - The gearing ratio increased to 0.372 as of December 31, 2024, compared to 0.256 as of June 30, 2024[39] - The company reported a total equity of RMB 150,053,000 as of December 31, 2024, down from RMB 178,375,000, indicating a decrease of about 16.0%[99] - The total cash and cash equivalents at the end of the period decreased to RMB 7,301,000 from RMB 41,982,000 in the previous year, reflecting a decline of approximately 83%[103] Employee and Management Information - The Group had 365 full-time employees as of December 31, 2024, a decrease from 405 employees as of June 30, 2024[49] - Total remuneration for key management personnel increased to RMB 4,927,000 for the six months ended December 31, 2024, up from RMB 2,568,000 for the same period in 2023, reflecting an increase of 92.0%[163] Corporate Governance and Compliance - The company has adopted the Corporate Governance Code as its own code of corporate governance and has complied with it, except for certain provisions regarding committee attendance at the annual general meeting[82][83] - The Audit Committee consists of three independent non-executive directors, with Mr. Shum Ching Hei as the chairman[89] - The company has adopted the Model Code for Securities Transactions, confirming compliance by all directors during the reporting period[88] Future Outlook and Strategic Initiatives - The Group plans to continue developing new businesses, particularly in the Internet sector, to diversify revenue sources and stabilize financial performance[67] - The Group's management anticipates that the changing mentality of domestic consumers will impact actual consumption behavior, focusing more on essential needs[62] Share Capital and Financing Activities - The Group completed a placing of 10,010,000 shares at a price of HK$1.40 per share, raising net proceeds of approximately HK$13.6 million for corporate development and marketing expenses[56] - A proposed rights issue aims to raise approximately HK$30.8 million by issuing 77,005,000 rights shares at a subscription price of HK$0.40 per share[57] - The company issued new shares, raising RMB 12,638,000 during the six months ended December 31, 2024[101] Inventory and Receivables Management - Trade receivables rose sharply to RMB 180,672,000 from RMB 89,913,000, representing an increase of approximately 100.8%[98] - Total inventories decreased to RMB 4,897,000 as of December 31, 2024, from RMB 74,716,000 as of June 30, 2024, reflecting a significant reduction of approximately 93%[146] - The impairment loss on trade receivables rose to RMB 736,000 from RMB 358,000, indicating a higher risk in receivables management[146]

Financial Performance - Revenue for the six months ended 31 December 2024 was RMB 179,825,000, a decrease of 8.2% compared to RMB 195,916,000 for the same period in 2023[5]. - Gross profit increased to RMB 10,348,000, representing a significant improvement from RMB 6,590,000 in the previous year, marking a growth of 57.5%[5]. - Loss before income tax for the period was RMB 40,284,000, slightly higher than the loss of RMB 38,127,000 recorded in the same period last year, indicating a 5.7% increase in losses[5]. - Total comprehensive loss for the period was RMB 40,960,000, compared to RMB 40,312,000 in the previous year, reflecting a 1.6% increase in overall losses[5]. - Revenue from food products sales was RMB 169,523,000, down from RMB 195,916,000, indicating a decline of 13.5%[26]. - The Group recorded a loss of approximately RMB40.3 million for the Reporting Period, compared to a loss of RMB38.1 million for the same period in 2023[65][67]. - Revenue from the food business decreased from approximately RMB195.9 million to approximately RMB169.5 million, accounting for 94.2% of total revenue in the Reporting Period[67][75]. Assets and Liabilities - Trade receivables increased significantly to RMB 180,672,000 from RMB 89,913,000, showing an increase of 100.8%[7]. - Cash and cash equivalents decreased to RMB 7,301,000 from RMB 60,927,000, a decline of 88.0%[7]. - Non-current assets rose to RMB 28,843,000, up from RMB 23,155,000, indicating a growth of 24.0%[7]. - Net assets decreased to RMB 150,053,000 from RMB 178,375,000, a decline of 16.0%[7]. - Total trade receivables as of 31 December 2024 amounted to RMB 181,408,000, significantly up from RMB 90,271,000 as of 30 June 2024, reflecting a growth of approximately 101%[52]. - Net current assets decreased from approximately RMB 199.2 million as of 30 June 2024 to approximately RMB 158.4 million as of 31 December 2024[91][98]. - Cash and cash equivalents dropped to approximately RMB 7.3 million as of 31 December 2024, down from approximately RMB 60.9 million as of 30 June 2024[92][99]. Shareholder Information - The company did not recommend any interim dividend for the six months ended 31 December 2024, consistent with the previous year[44]. - The weighted average number of ordinary shares for calculating basic loss per share increased from 123,000,000 in 2023 to 151,561,902 in 2024, an increase of about 23.3%[47]. - The Group's total issued shares increased from 144,000,000 to 154,010,000 due to a placing of new shares, raising approximately HK$15.7 million[60][61]. - A separate placing agreement on 20 November 2023 raised approximately HK$42.3 million by placing up to 24,000,000 shares at HK$1.80 each[61][62]. - A proposed rights issue was announced to raise approximately HK$30.8 million by issuing 77,005,000 rights shares at HK$0.40 per share, with a completion date of January 3, 2025[114]. Operational Highlights - The Group commenced a new food and beverage business in Zhuhai, PRC, generating revenue of RMB10.3 million during the Reporting Period[68][71]. - The Group's strategy includes sourcing high-quality raw materials and subcontracting processing to enhance product offerings under its brand "Wofan" and expand into the food and beverage sector[64][69]. - The Group offered over 100 types of dried seafood, 30 types of algae and fungi, and 60 types of seafood snacks, aiming to differentiate itself from competitors[66][70]. - The company initiated a fresh pork wholesale business at the beginning of 2025, sourcing from high-quality pig farms[116]. Governance and Compliance - The company has adopted the Corporate Governance Code and is committed to enhancing its governance practices[122]. - The board consists of four executive directors and three independent non-executive directors, ensuring a significant percentage of independent voices[128]. - The Audit Committee, composed entirely of independent non-executive directors, has reviewed the interim results for the six months ended December 31, 2024[131]. - Mr. Shum Ching Hei has been appointed as the chairman of the Audit Committee, which is responsible for overseeing financial reporting and compliance[135]. - The company will continue to enhance its corporate governance practices to meet increasing regulatory requirements and stakeholder expectations[128]. Market Insights - China's total retail sales of consumer goods in 2024 were approximately RMB48.79 trillion, reflecting a 3.5% increase from the previous year, indicating a shift in consumer behavior towards actual needs[115]. - The company plans to actively develop new businesses, particularly in the Internet sector, to diversify revenue sources and stabilize financial performance[121]. - The company will continue to monitor market conditions to identify opportunities for growth and expansion[126].

Product Offerings - The Group offers over 200 types of products, including over 100 dried seafood products, 60 seafood snack products, and 30 algae and fungi products[4]. ESG Commitment and Reporting - The ESG Report covers the Group's core business in Mainland China, including Xiamen Wofan Foodstuff Company Limited and Quanzhou Junfeng Supply Chain Management Company Limited[11]. - The reporting period for the ESG activities is the year ended June 30, 2024[14]. - The ESG Report is prepared in accordance with the ESG Reporting Guide under the Main Board Listing Rules of the Stock Exchange of Hong Kong Limited[13]. - The Group has adopted the principle of materiality in ESG reporting, aligning with the ESG Reporting Guide and GRI standards[19]. - The Group's management ensures compliance with ESG Reporting Guide through stakeholder discussions and internal evaluations[21]. - The Group conducts annual materiality assessments to understand stakeholder opinions and expectations regarding ESG issues[28]. Environmental Sustainability - The Group is committed to achieving environmental sustainability and respecting human rights and social culture as part of its sustainability strategies[3]. - The Group aims to balance business needs, social demands, and environmental impacts through its ESG initiatives[2]. - Significant ESG issues identified include impacts on China's business and the dry seafood market[19]. - Key ESG aspects include emissions management, resource usage, and climate change strategies[22]. - The report highlights the importance of waste management and sewage discharge in environmental aspects[22]. - Energy and water management are prioritized in resource usage[22]. - The Group emphasizes the significance of indoor air quality management and climate-related issues[22]. - The Group's total exhaust gas emissions decreased by approximately 32.1%, from approximately 3,585 kg in the eighteen months period ended June 30, 2023, to approximately 2,434 kg during the Reporting Period[37]. - The Group's total GHG emissions decreased by approximately 33.1% from about 634.90 tCO2e in PE2023 to about 431.09 tCO2e during the Reporting Period[41]. - The Group's sewage discharge decreased from about 4,360 cubic meters in PE2023 to about 3,019 cubic meters in the Reporting Period[46]. - The Group's total non-hazardous waste discharge was 16.13 tonnes, including 0.82 tonnes of paper and 15.31 tonnes of general waste[54]. - The Group's electricity consumption decreased by 30.2% during the Reporting Period compared to PE2023, totaling approximately 119.63 MWh[58]. - The Group actively adopts energy-saving measures, including using energy-efficient appliances and encouraging employees to turn off idle devices[56]. - The Group's commitment to environmental protection includes monitoring the impact of business operations and promoting a green operating environment[55]. Climate Change and Risk Management - The company is focusing on climate change risks, integrating diverse risk factors into its business strategy to mitigate impacts from climate-related events[77]. - The company has established multiple future scenarios based on the International Energy Agency (IEA) projections, particularly emphasizing the 2°C scenario[78]. - Anticipated increases in carbon pricing may lead to higher raw material procurement and production costs[79]. - Inadequate climate change measures could result in increased production interruptions and supply chain disruptions due to more frequent natural disasters[80]. - The company aims to reduce nonrenewable energy usage in operations, promoting renewable energy to achieve zero carbon emissions[81]. - A new target has been set to reduce purchased electricity in the coming years as part of its renewable energy strategy[82]. - The company believes that appropriate information disclosure and dialogue with stakeholders will provide opportunities for stable funding and sustainable corporate value increases[83]. - The risk assessment process utilizes national data and expert knowledge to identify how climate change may exacerbate existing risks or create new ones[85]. - Significant climate-related risks impacting the company's operations, supply chain, and financial planning have been identified, along with management strategies[90]. - The company continues to enhance awareness of climate change and monitor its carbon and energy footprint, although gaps remain in understanding the full impact of climate risks on operations and profits[89]. - The company plans to establish a natural disasters emergency plan to manage climate-related risks[94]. - Increased operating costs and potential revenue reductions are anticipated due to changes in precipitation patterns and extreme weather events[96]. Employee Management and Safety - The Group employed 405 employees during the Reporting Period, similar to the previous year[115]. - The Group has established a fair and competitive remuneration system, reviewing performance for salary increases and promotions annually[121]. - The Group promotes work-life balance by offering 8 working hours per day and a 1.5-hour lunch break[124]. - The Group respects and protects the legitimate rights and interests of every employee, ensuring occupational health and safety[112]. - The Group did not record any accidents resulting in death or serious injury during the reporting period, indicating effective health and safety management[133]. - No work-related injuries resulted in lost working days, and there were no incidents of death or permanent disability reported[139]. - A Safety Committee has been established to ensure the implementation of appropriate safety policies and procedures[136]. - The Group is committed to creating an inclusive work environment, ensuring fair treatment in recruitment, remuneration, training, and promotion[130]. - During the reporting period, 63% of employees received training, a decrease from 67% in the previous year[141]. Supply Chain Management - The Group cooperated with approximately 60 suppliers in Mainland China during the reporting period[150]. - The Group has established a rigorous supplier selection system, ensuring financial sustainability and compliance through field assessments[151]. - The Group strictly monitors supplier performance and conducts annual assessments, removing underperforming suppliers from the licensed list[152]. - The Group fully complies with laws prohibiting child and forced labor, with no recorded violations during the reporting period[147]. - The Group emphasizes environmental and social risk management in its supply chain, incorporating these considerations into the supplier selection process[153]. Customer Engagement and Quality Control - The Group actively controls service quality through internal controls and maintains communication with customers to meet their needs[156]. - The Group is committed to stringent quality control measures, including external testing of raw materials and products to ensure high-quality food delivery[158]. - The Group has established various channels for customer feedback, allowing easy access to contact information for suggestions and complaints[159]. - The Group has implemented strict policies for the protection of customer privacy and data confidentiality, requiring employees to sign confidentiality agreements[163]. - The Group has set up management procedures for intellectual property rights and will take legal action against infringements to protect its interests[164]. Community Engagement - The Group actively participates in community investment and social responsibility activities, promoting employee involvement in public welfare[177]. - The focus areas of community investment include education, environmental concerns, labor needs, health, culture, and sport, demonstrating the company's engagement with local communities[183]. - Resources contributed to the focus areas include both monetary and time investments, highlighting the company's commitment to community support[183]. - The company has established policies on community engagement to understand the needs of the communities where it operates[183].

Financial Performance - Gaodi Holdings Limited reported a revenue increase of 15% year-over-year, reaching approximately $120 million for the fiscal year 2024[1]. - The company achieved a net profit margin of 10%, translating to a net income of $12 million, compared to $10 million in the previous year[1]. - Gaodi Holdings Limited reported a 30% increase in gross profit, amounting to $36 million, driven by improved operational efficiencies[1]. - The company has set a revenue guidance of $140 million for the next fiscal year, representing a projected growth of 16.67%[1]. - The Group's revenue from the food products business decreased by 33.1% to RMB354.9 million from RMB530.2 million in 2023[8]. - Segment gross profit decreased by 28.8% to RMB11.9 million from RMB16.7 million in 2023, with a slight increase in gross margin from 3.2% to 3.4%[8]. - The Group's loss for the Reporting Period decreased to approximately RMB79.9 million due to reduced sales and distribution costs[8]. - Revenue for the year ended 30 June 2024 was RMB 354,863,000, a decrease of 33% compared to RMB 530,207,000 for the same period in 2023[132]. - Gross profit for the year was RMB 11,927,000, down from RMB 16,744,000 in the previous year, reflecting a decline in profitability[132]. - Loss before tax for the year was RMB 81,593,000, an improvement from a loss of RMB 152,310,000 in the prior year[132]. - Total comprehensive expenses for the year amounted to RMB 79,408,000, compared to RMB 154,981,000 in the previous year, indicating a reduction in overall losses[132]. - Basic and diluted loss per share was RMB 0.5987, improving from RMB 1.2783 in the previous year[132]. User Growth and Market Expansion - User data showed a growth in active users by 25%, totaling 1.5 million users by the end of 2024[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share within the next two years[1]. - A strategic acquisition of a local tech firm was completed, expected to enhance Gaodi's technological capabilities and market reach[1]. Research and Development - Gaodi Holdings Limited is investing $5 million in R&D for new product development, focusing on innovative technologies to enhance user experience[1]. Marketing and Brand Awareness - The company is implementing a new marketing strategy aimed at increasing brand awareness, with a budget allocation of $2 million for the upcoming year[1]. Financial Position and Assets - As of June 30, 2024, net current assets decreased from approximately RMB226.2 million to approximately RMB199.2 million, primarily due to a decrease in cash and cash equivalents and trade receivables[24]. - Cash and cash equivalents as of June 30, 2024, were approximately RMB60.9 million, down from approximately RMB66.5 million as of June 30, 2023, with no bank borrowings[24]. - The gearing ratio as of June 30, 2024, was 0.26, an increase from 0.127 as of June 30, 2023[26]. - Inventories as of June 30, 2024, amounted to approximately RMB74.7 million, down from approximately RMB79.2 million as of June 30, 2023, with inventory turnover days at approximately 76 days[26]. - Trade receivables as of June 30, 2024, were approximately RMB89.9 million, down from approximately RMB104.3 million as of June 30, 2023, with turnover days at approximately 100 days[26]. - The Group's total equity decreased to RMB 178,375,000 from RMB 219,445,000, indicating a decline in the company's net worth[133]. Employee and Governance - The Group had 405 full-time employees as of June 30, 2024, with no final dividend recommended for the Reporting Period[29]. - The Company has adopted a dividend policy that allows for the declaration and distribution of dividends at the Board's discretion[38]. - The Board consists of four executive directors and three independent non-executive directors, ensuring significant weight to independent views[76]. - The Company acknowledges the need for regular meetings to ensure effective governance, despite the current shortfall in meeting frequency[75]. Risk Management and Compliance - The Group has implemented a risk management system covering financial security, production, logistics, technology, and compliance to address operational risks associated with business growth[42][48]. - The Audit Committee oversees the risk management policy and the performance of the risk management system[42][48]. - There were no material breaches of applicable laws and regulations that significantly impacted the Group's business during the reporting period[39]. Accounting Policies and Financial Reporting - The Group's financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance[118]. - The audit identified impairment assessment on trade receivables as a key audit matter, indicating its significance in the financial statements[111]. - The Group recognizes lifetime expected credit losses (ECL) for trade receivables, contract assets, and lease receivables[176]. - The Group's accounting policies ensure that financial instruments are accurately recognised and derecognised in accordance with contractual provisions[168]. Shareholder Information - Shareholders holding not less than one-tenth of the Company's paid-up capital may request the Board to convene an extraordinary general meeting[106]. - The forthcoming Annual General Meeting (AGM) is scheduled for December 2024, with notices sent to shareholders at least 20 clear business days prior[106]. - The Company maintains a website for effective communication with shareholders, providing updates on business operations and financial information[106].

Financial Performance - Revenue for the year ended 30 June 2024 was RMB 354,863,000, a decrease of 33.1% compared to RMB 530,207,000 for the eighteen months ended 30 June 2023[2] - Gross profit for the year was RMB 11,927,000, down from RMB 16,744,000, reflecting a gross margin of approximately 3.4%[2] - Loss before tax for the year was RMB 81,593,000, an improvement from a loss of RMB 152,310,000 in the previous period[2] - Loss for the year attributable to the owners of the Company was RMB 79,931,000, compared to RMB 150,503,000 for the previous period[2] - Total comprehensive expenses for the year amounted to RMB 79,408,000, down from RMB 154,981,000 in the previous period[2] - Basic and diluted loss per share was RMB 0.5987, compared to RMB 1.2783 for the previous period[2] - The Group's loss for the Reporting Period decreased to approximately RMB79.9 million due to reduced sales and distribution costs[63] Assets and Liabilities - Non-current assets decreased to RMB 23,155,000 from RMB 14,885,000 year-on-year[4] - Current assets decreased to RMB 240,412,000 from RMB 271,430,000 year-on-year[4] - Net current assets decreased to RMB 199,217,000 from RMB 226,208,000 year-on-year[4] - Total equity decreased to RMB 178,375,000 from RMB 219,445,000 year-on-year[4] - Trade receivables decreased from RMB 105,833,000 in 2023 to RMB 90,271,000 in 2024, with impairment losses reducing from RMB 1,455,000 to RMB 358,000[47] - The Group's inventory decreased from RMB 79,181,000 in 2023 to RMB 74,716,000 in 2024, with raw materials dropping significantly from RMB 1,293,000 to RMB 434,000[44] - Cash and cash equivalents as of June 30, 2024, were approximately RMB60.9 million, down from approximately RMB66.5 million as of June 30, 2023, with no bank borrowings[81] Revenue Segments - The Group's principal activities include packaging and sales of seafood products and procurement and sales of fast-moving consumer goods[1] - Revenue from external customers for the year ended June 30, 2024, was RMB 530,207, a decrease from RMB 354,863 for the eighteen months ended June 30, 2023[16] - The Group's revenue from the food products business decreased by 33.1% to RMB354.9 million from RMB530.2 million in 2023[63] - Segment gross profit from the food products business decreased by 28.8% to RMB11.9 million from RMB16.7 million in 2023, with a slight increase in gross margin from 3.2% to 3.4%[63] Cost Management - Selling and distribution expenses decreased due to tightened cost control on promotion and advertising activities during the Reporting Period[76] - Administrative expenses also decreased as a result of tightened cost control measures implemented during the Reporting Period[80] - Staff costs, including salaries and bonuses, decreased to RMB 64,766,000 from RMB 118,712,000, reflecting a reduction of approximately 45.5%[32] Compliance and Governance - The consolidated financial statements have been prepared in accordance with all applicable Hong Kong Financial Reporting Standards (HKFRSs)[2] - The Group's financial statements comply with the applicable disclosure provisions of the Rules Governing the Listing of Securities on the Main Board[2] - The Audit Committee has reviewed the consolidated results for the year ended June 30, 2024, and confirmed compliance with relevant accounting standards[101] - The Company has adopted the standard code for securities trading since June 22, 2017, with all directors confirming compliance for the year[98] Future Outlook - The company expects household consumption expenditure to grow by 6.0% in 2024, driven by increasing disposable income and decreasing savings rate[87] - The company aims to diversify its business development strategies and expand into new markets to remain competitive[87] Shareholder Information - The Group's public float was 40.98% as of June 30, 2024, down from 56.25% in 2023, maintaining compliance with the 25% requirement[59] - The Group completed a placing of 24,000,000 shares at HK$1.80 per share, raising approximately HK$42.3 million in December 2023[57] - The Board did not recommend the payment of a final dividend for the year ended June 30, 2024[102]