Financial Performance - The total operating revenue for the fiscal year 2023 was approximately ¥493.54 million, a decrease of 3.3% compared to ¥512.67 million in 2022[19]. - The total operating costs for 2023 were approximately ¥541.34 million, down 15.3% from ¥638.93 million in 2022[19]. - The total profit for 2023 was approximately ¥1.74 million, a significant recovery from a loss of ¥304.99 million in 2022[21]. - The net profit attributable to the shareholders of the parent company was RMB 1,994,964.77, compared to a net loss of RMB 273,526,467.22 in the same period last year, achieving a turnaround from loss to profit[36]. - The basic earnings per share for the fiscal year was approximately RMB 0.003, compared to a basic loss per share of RMB 0.345 in 2022[24]. - The total comprehensive income for 2023 was RMB 75,121,032.78, a recovery from a loss of RMB 293,476,978.55 in 2022[44]. - The company's net profit margin improved to 0.38% from -62.53% in the previous year, primarily due to increased gross margin, reduced expenses, and appreciation in the fair value of investment properties[114]. - The company's gross profit margin increased to approximately 17.72% in 2023 from 5.70% in 2022, an increase of about 12.02%[84]. Cost Management - The company has implemented strict cost control measures, leading to a gradual normalization of its overall financial condition[5]. - Management expenses decreased by approximately 20.38% to RMB 37,130,078.64, attributed to streamlined management and optimized personnel allocation[63]. - The sales expenses for the year were RMB 37,769,640.78, a decrease of approximately 14.41% compared to the previous year, attributed to optimized personnel allocation and strict budget management[104]. Asset and Liability Management - The non-current assets totaled approximately ¥733.63 million as of December 31, 2023, down from ¥1.14 billion in the previous year[9]. - Long-term borrowings decreased to approximately ¥78.25 million from ¥88.03 million in the previous year, reflecting improved financial management[13]. - The total current assets increased to RMB 2,140,827,616.33 from RMB 1,853,670,630.85 in the previous year, reflecting a growth in liquidity[38]. - The total current liabilities decreased to RMB 1,126,428,190.02 from RMB 1,328,025,175.21, indicating improved financial stability[40]. - The company's total liabilities decreased from RMB 564,217,147.38 in 2022 to RMB 496,699,959.85 in 2023, reflecting improved financial stability[51]. - The debt-to-equity ratio decreased to 43.18% from 48.02% in the previous year, reflecting a reduction in bank loans[117]. Market Expansion and Contracts - The company has signed new contracts for several projects, including customs supervision systems and logistics center information systems, indicating ongoing market expansion[3]. - The company successfully signed contracts for new projects, including the Lhasa to Shigatse Airport section of the highway and communication line projects in Xinjiang, marking a breakthrough in these regions[128]. - The company achieved a significant milestone by signing contracts for the upgrade of the Wenchang Port in Hainan, establishing a foundation for future market expansion in the Hainan Free Trade Zone[129]. Research and Development - The company is actively collaborating with Southeast University on key R&D projects focused on low-emission driving behavior correction technologies[4]. - The company is focusing on the development of key IoT technologies, addressing critical technology challenges in the industry[4]. - The company will strengthen its research and development capabilities by leveraging its national RFID system engineering technology center and Jiangsu province's smart highway engineering technology research center[137]. - The company has developed several products in the smart logistics field, including the "Special Supervision Area Information System" and "Customs Logistics Information Solutions," with some already in application[145]. - The company has achieved significant results in the research and development of its own products and services, launching several software products including a highway cloud control platform and a smart scheduling system[163]. Compliance and Governance - The company has revised its articles of association to ensure compliance with listing rules and expand its business scope[153]. - The company has adopted a code of conduct for securities trading, ensuring compliance with the trading standards set out in the listing rules[155]. - The board of directors does not recommend the payment of a final dividend for the year ending December 31, 2023, consistent with the previous year[172]. Employee Management - The company's total employee compensation cost was RMB 48,429,827.93, down from RMB 59,242,390.13 in the previous year, with a total of 215 employees compared to 261 in the prior year[120].

Financial Performance - For the six months ended June 30, 2023, the basic earnings per share was approximately RMB 0.033, compared to a loss of RMB 0.009 in the same period of 2022[2]. - The total operating revenue for the group was RMB 292,771,678.34, representing a decrease of approximately 44.93% compared to the same period last year[5]. - The net profit attributable to the owners of the parent company for the six months ended June 30, 2023, was RMB 26,197,152.00, compared to a net loss of RMB 7,108,515.65 in the same period last year[60]. - The operating profit for the six months ended June 30, 2023, was RMB 25,621,849.66, compared to an operating loss of RMB 11,724,337.46 for the same period last year[182]. - The total profit for the six months ended June 30, 2023, was RMB 25,608,015.29, with income tax expenses of RMB 375,710.37[182]. - Total revenue for the six months ended June 30, 2023, was approximately CNY 292.77 million, a decrease of 45% compared to CNY 531.67 million in the same period of 2022[196]. - The net profit attributable to the parent company for the six months ended June 30, 2023, was approximately CNY 26.97 million, compared to a loss of CNY 8.74 million in the same period of 2022[200]. Revenue Breakdown - The revenue from system integration was RMB 240,539,740.58, while the revenue from smart terminal sales was RMB 7,764,979.55 for the six months ended June 30, 2023[16]. - The total operating revenue for the group for the six months ended June 30, 2023, was RMB 292,771,678.34, a decrease of approximately 44.93% compared to the same period last year, primarily due to a reduction in smart terminal sales revenue[44]. Operating Costs - The total operating costs for the six months ended June 30, 2023, were RMB 273,131,551.26, down from RMB 517,271,286.11 in the same period of 2022[16]. - Total operating costs for the same period were approximately CNY 271.58 million, down from CNY 548.90 million, reflecting a reduction of 50%[196]. Cash and Assets - As of June 30, 2023, the group's bank deposits and cash amounted to RMB 222,973,162.56, down from RMB 472,877,356.21 as of December 31, 2022[50]. - The total assets of the company amounted to RMB 326,584,973.98, with significant investments in investment properties (RMB 236,803,100.00) and fixed assets (RMB 82,686,737.43)[75]. - The total assets of the group included accounts receivable of RMB 572,498,477.76 as of June 30, 2023, with a provision for bad debts of RMB 303,332,072.22[36]. - Total assets as of June 30, 2023, were approximately CNY 2.86 billion, compared to CNY 2.99 billion as of December 31, 2022[192]. Equity and Liabilities - The company’s total equity attributable to shareholders was RMB 1,558,592,307.71 as of June 30, 2023[9]. - The total equity attributable to owners was RMB 1,877,459,254.54, with a decrease of RMB 8,744,520.78[1]. - Total liabilities as of June 30, 2023, were approximately CNY 1.17 billion, down from CNY 1.33 billion as of December 31, 2022[194]. Expenses - Interest expenses for the period were RMB 17,556,583.21, compared to RMB 19,905,565.78 in the previous year[16]. - Financial expenses for the group were RMB 16,822,627.60, an increase of approximately 1.59% compared to the same period last year[49]. - Selling expenses for the period were RMB 15,457,693.65, a decrease of approximately 0.54% compared to the same period last year[46]. - Management expenses decreased by approximately 1.24% to RMB 18,206,562.63, due to effective management and organizational optimization[47]. - Research and development expenses for the six months ended June 30, 2023, amounted to RMB 9,393,466.62, a decrease of approximately 7.22% compared to the same period last year[166]. Strategic Focus and Development - The company plans to continue its focus on product development and market expansion, although specific new products or technologies were not detailed in the report[18]. - The company has been actively optimizing existing products and exploring new business scenarios, including maritime information systems and customs financial information systems[85]. - The company is collaborating with Southeast University on key R&D projects aimed at low-emission driving behavior correction technologies and high-value patent cultivation[86]. - The group plans to continue focusing on smart transportation and smart customs as core industries, aiming to enhance operational efficiency and reduce costs for clients[116]. - The company is focused on enhancing its core business while navigating complex international environments and seizing market opportunities[81]. Governance and Compliance - The company has fully complied with the corporate governance code as per the listing rules during the review period[157]. - The company has established an audit committee to oversee financial reporting and internal controls[132]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced governance structure[138]. - The board of directors has undergone changes, with the chairman also taking on the role of CEO since March 3, 2023, to enhance strategic planning efficiency[133]. Shareholder Information - The company is primarily owned by Sanbao Group, which directly holds 397,821,000 domestic shares, accounting for approximately 50.22% of the total issued share capital, and indirectly holds 4,310,000 H shares, accounting for about 0.54%[144][151]. - Active Gold Holding Limited is fully owned by Jian Ying Sample High Growth Investment Fund, which holds 123,862,500 domestic shares, representing 15.64% of the company[149][151]. - The company has not declared an interim dividend for the six months ended June 30, 2023, consistent with the previous year[61]. Innovation and Technology - The group has developed several key products in the customs logistics technology service platform, including the "Special Supervision Area Information System" and "AI Container Number Recognition System," contributing to technological advancement and business expansion[88]. - The group aims to integrate new technologies such as artificial intelligence and big data into smart highway applications, enhancing the synergy between transportation intelligence and connectivity[117]. - The group has applied for and obtained two new invention patents during the review period, strengthening its intellectual property portfolio[88].

Financial Performance - The total revenue for the six months ended June 30, 2023, was RMB 292,771,678.34, a decrease of approximately 44.93% compared to the same period last year[5]. - The net profit attributable to the owners of the parent company for the same period was RMB 26,197,152.00, compared to a net loss of RMB 7,108,515.65 in the previous year[2]. - The total operating revenue for the six months ended June 30, 2023, was RMB 292,771,678.34, a decrease of approximately 44.93% compared to the same period last year[45]. - The net profit attributable to the parent company's shareholders for the same period was RMB 26,197,152.00, compared to a net loss of RMB 7,108,515.65 in the previous year[45]. - The total profit for the six months ended June 30, 2023, was RMB 25.61 million, compared to a loss of RMB 11.72 million in the same period last year[76]. - The company reported a net comprehensive income of RMB 26.97 million for the six months ended June 30, 2023, compared to a loss of RMB 8.74 million in the previous year[79]. - The company's operating profit for the six months ended June 30, 2023, was RMB 25,621,849.66, compared to a loss of RMB 11,724,337.46 in the previous year[54]. - The basic earnings per share for the six months ended June 30, 2023, was approximately RMB 0.033, compared to a basic loss per share of RMB 0.009 in the same period last year[45]. - The company does not recommend the payment of an interim dividend for the six months ended June 30, 2023[45]. Assets and Liabilities - Total current liabilities as of June 30, 2023, amounted to RMB 1,174,342,956.98, down from RMB 1,328,025,175.21 at the end of the previous year[47]. - The total liabilities as of June 30, 2023, were RMB 1,276,180,421.39, down from RMB 1,439,702,696.99 at the end of the previous year[51]. - Cash and cash equivalents decreased to RMB 222,973,162.56 from RMB 472,877,356.21 at the end of the previous year[47]. - Accounts receivable increased to RMB 269,166,405.54 from RMB 240,880,565.69 year-over-year[47]. - Inventory increased to RMB 57,149,477.18 from RMB 36,949,072.95 year-over-year[47]. - The total asset value of the group is RMB 326,584,973.98, with investment properties valued at RMB 236,803,100.00 and fixed assets at RMB 82,686,737.43[122]. - The total amount of accounts receivable as of June 30, 2023, was RMB 572,498,477.76, with a provision for bad debts of RMB 303,332,072.22, resulting in a net total of RMB 269,166,405.54[115]. - The total liabilities ratio as of June 30, 2023, was approximately 29.96%, down from 32.99% as of December 31, 2022[97]. Operational Highlights - The group plans to strengthen project implementation in the smart transportation sector and explore markets in disadvantaged areas in the second half of the year[20]. - The group is focusing on research and development in key IoT technologies and applications, targeting "bottleneck" and "leading" technologies[18]. - The group has signed new contracts for various engineering projects, including the Huining to Liyang Expressway and the S103 tourism road project[36]. - The group aims to expand into new business areas such as low-carbon parks and smart energy, aligning with China's dual carbon goals[26]. - The company has completed several key projects, including customs information systems and logistics technology service platforms, enhancing its technological capabilities and business expansion[103][105]. - The company plans to continue focusing on smart transportation and customs logistics as core industries in the second half of the year, aiming to improve operational efficiency for clients[106]. Research and Development - The group is collaborating with Southeast University on key R&D projects aimed at low-emission driving behavior correction technologies[132]. - The group’s technology center received a "Good" rating in the provincial enterprise technology center evaluation[133]. - The company’s R&D expenses were RMB 9,393,466.62, representing a decrease of approximately 7.22% compared to the same period last year[118]. - Research and development expenses decreased to RMB 9.39 million from RMB 10.12 million year-over-year[74]. Management and Strategy - The management structure has been adjusted to improve strategic planning efficiency, with the chairman also serving as the CEO[139]. - The company amended its articles of association to align with listing rules and expand its business scope[144]. - The group is focused on providing integrated intelligent solutions in smart transportation, enhancing efficiency and safety in highway and tunnel operations[130]. - In the smart customs sector, the group aims to improve regulatory efficiency and reduce costs through comprehensive intelligent solutions for customs and logistics[131]. - The group plans to continue developing cross-border logistics technology and integrate resources to enhance logistics visibility and efficiency[136]. Employment and Costs - The company employed 225 staff as of June 30, 2023, down from 275 staff a year earlier, with total employee costs amounting to RMB 21,239,298.36[96]. - The sales expenses for the six months ended June 30, 2023, were RMB 15,457,693.65, a slight decrease of approximately 0.54% compared to the previous year[6]. - Gross profit margin improved as management expenses decreased by approximately 1.24% to RMB 18.21 million from RMB 18.43 million in the previous year[67]. - The company's gross profit margin increased from approximately 8.65% in the previous year to about 20.73% during the review period, attributed to enhanced project management and implementation[117]. - For the six months ended June 30, 2023, the total interest expense was RMB 17,556,583.21, a decrease of approximately 11.77% from RMB 19,905,565.78 in the same period last year[86].

Financial Performance - In 2022, the company's net profit margin was -62.53%, a significant decline from -6.29% in 2021[11] - The company's total liabilities ratio was approximately 48.02% as of December 31, 2022, compared to 47.13% in 2021[11] - The company's total equity as of December 31, 2022, was RMB 1,558,592,307.71, with a net asset value per share of approximately RMB 1.96[26] - As of December 31, 2022, the company's distributable reserves amounted to RMB 536,999,877.42, a decrease from RMB 812,449,980.76 in the previous year[161] - The company did not declare any dividends during the year ended December 31, 2022[161] Assets and Liabilities - The company's total assets as of December 31, 2022, included cash and bank deposits amounting to RMB 472,877,356.21[26] - The company's fixed assets decreased by 26.73% year-on-year, totaling RMB 152,999,306.59 as of December 31, 2022, primarily due to depreciation[7] - The company's contract assets decreased by approximately 9.87% year-on-year, amounting to RMB 547,320,001.45, attributed to project delays and cancellations[24] - The company has pledged bank deposits of RMB 163,961,528.06 to support ongoing projects and bank credit[27] Expenses and Cost Management - The company's management expenses decreased by about 19.88% year-on-year, totaling RMB 46,632,855.46, due to reduced personnel costs and other expenses[23] - The company's sales expenses increased by approximately 14.49% year-on-year, totaling RMB 44,130,186.93, due to business expansion efforts[22] - Total employee compensation cost for the group was RMB 59,242,390.13, down from RMB 68,909,057.67 in the previous year, with a total of 261 employees compared to 272 in the prior year[69] Business Development and Projects - The company signed new contracts for various projects, including the JD01 section of the Lin'an to Jiande section of the Linjin Expressway and the LN-92 section of the Liyang to Ningde highway, among others[40] - The company completed several key projects, including the cross-border e-commerce supervision center in Zhenjiang and the information technology project for the cross-border e-commerce supervision center in Zibo[42] - The group successfully completed several key projects, including the operation of the Changning to Baoshan Expressway electromechanical engineering and the expansion of the Wuhu to Lin Tou section of the G5011 expressway[71] - New contracts were signed for the installation of traffic lights and monitoring systems at nine intersections for the Xiantao Public Security Bureau[72] Strategic Initiatives - In the smart customs business, the company aims to enhance regulatory efficiency and reduce costs through innovative solutions, focusing on logistics clients such as customs and ports[41] - The company plans to continue innovating and expanding its product offerings in the smart customs sector, focusing on automation and digitalization to improve customs efficiency[46] - The company is leveraging its RFID technology research center to advance research in IoT multi-modal perception, aiming to develop new intelligent identification systems and applications in smart transportation and logistics[48] - Future business development plans include enhancing project implementation and exploring new business areas such as urban transportation and smart buildings[77] Market and Economic Outlook - The company anticipates steady economic recovery in China, despite global economic growth being downgraded to 1.7% for 2023, the third lowest in nearly 30 years[45] - The group faced significant impacts from the pandemic, leading to a slowdown in the smart transportation and customs industries, with project delays and cancellations becoming more pronounced[70] Corporate Governance and Compliance - The company emphasizes compliance with laws and regulations in its operations[118] - The company has strengthened its internal governance measures to comply with the corporate governance code[178] - The independent non-executive directors confirmed their independence according to the listing rules[183] - The company adopted corporate governance principles and confirmed compliance with the corporate governance code throughout the year ended December 31, 2022[200] Shareholder Information - As of December 31, 2022, Sanbao Technology Group Limited holds 50.77% of the company's registered capital, making it the largest shareholder[105] - The company reported a significant ownership structure, with Mr. Sha holding 60.40% and Mr. Chang holding 38.96% in Jiangsu Sanbao Holdings, which in turn owns 49% of the controlling shareholder Sanbao Group[112] - Sanbao Group directly holds 397,821,000 domestic shares, accounting for approximately 50.22% of the company's issued share capital, and indirectly holds 4,310,000 H shares, accounting for about 0.54%[128] Risk Management - The company faces risks related to customer turnover, technology development, management, and accounts receivable losses, which could impact its financial performance[61] - The company is committed to establishing long-term cooperative relationships with key clients to mitigate policy risks affecting operational performance[115] Investments - The company has significant investments classified as other equity instruments, including a planned transfer of shares valued at RMB 450 million to China Overseas Development and Construction Group[65] - The company acquired a 12.00% stake in Qingdao Smart Science and Technology Venture Capital Partnership for RMB 36,401,800.00 on December 28, 2022[35] - The company acquired a 50.50% stake in Qingdao Shuke Enterprises for RMB 64,504,300 on December 28, 2022[151] Environmental and Social Responsibility - The company has integrated sustainable development concepts into its corporate strategy and operations, focusing on reducing pollution and improving resource utilization[93] - The company is committed to complying with applicable environmental protection laws and regulations, as well as industry standards[93] - The company has published its ESG report in accordance with the listing rules and uploaded it to its website[174]

Financial Performance - The total profit (loss) for the year 2022 was -304,998,524.39, compared to -54,706,617.95 in 2021, indicating a significant increase in losses [8]. - The net profit (loss) for 2022 was -300,862,226.17, compared to -55,912,187.63 in 2021, reflecting a worsening financial performance [17]. - The basic and diluted earnings per share for 2022 were both -0.35, compared to -0.07 in 2021, showing a decline in profitability per share [10]. - The total comprehensive income for 2022 was -293,476,978.55, compared to -53,874,281.52 in 2021, indicating a substantial increase in overall losses [19]. - The company's operating profit (loss) for 2022 was -307,745,303.59, compared to -54,757,098.35 in 2021, highlighting a significant deterioration in operational performance [17]. - The other comprehensive income attributable to the parent company for 2022 was -266,141,219.60, compared to -57,206,829.54 in 2021, indicating increased losses in this category [19]. - The net loss attributable to shareholders for the year ended December 31, 2022, was RMB 273,526,467.22, compared to a net loss of RMB 59,244,735.65 in the previous year [28]. - The basic loss per share for the year ended December 31, 2022, was approximately RMB 0.35, compared to RMB 0.07 in the previous year [28]. - The company reported a total loss of RMB 304,998,524.39 for the year ended December 31, 2022, compared to a loss of RMB 54,706,617.95 in the previous year [71]. Revenue and Costs - The total operating revenue for the year ended December 31, 2022, was RMB 512,665,194.01, representing a decrease of approximately 43.91% compared to the previous year [28]. - Total operating revenue for the year ended December 31, 2022, was $512.67 million, a decrease of 43.9% from $914.01 million in 2021 [36]. - Total operating costs for the same period were $638.93 million, down 32.9% from $954.71 million in 2021 [36]. - The gross profit margin for system integration was 8.0% in 2022, down from 16.7% in 2021 [56]. - The gross profit margin for the year ended December 31, 2022, was approximately 5.70%, a decline of about 12.84% from the previous year [82]. - Sales expenses for the year ended December 31, 2022, amounted to RMB 44,130,186.93, an increase of approximately 14.49% compared to the previous year [83]. Assets and Liabilities - Total current assets decreased from RMB 2,856,235,868.32 in 2021 to RMB 1,853,670,630.85 in 2022, a decline of approximately 35% [22]. - Total non-current assets increased from RMB 695,021,099.33 in 2021 to RMB 1,144,624,373.85 in 2022, an increase of approximately 64.5% [24]. - Total liabilities decreased from RMB 1,673,797,713.11 in 2021 to RMB 1,439,702,696.99 in 2022, a reduction of approximately 14% [26]. - Current liabilities decreased from RMB 1,553,357,374.41 in 2021 to RMB 1,328,025,175.21 in 2022, a decline of approximately 14.5% [25]. - The total assets as of December 31, 2022, were RMB 2,998,295,004.70, down from RMB 3,551,256,967.65 in the previous year [74]. - The net current assets decreased to RMB 525,645,455.64 in 2022 from RMB 1,302,878,493.91 in 2021 [74]. - Accounts receivable as of December 31, 2022, was RMB 240,880,565.69, a decrease of approximately 26.15% from the same period last year, mainly due to provisions for bad debts [86]. - Other receivables as of December 31, 2022, were RMB 366,840,678.68, a decrease of approximately 55.33% from the previous year, mainly due to the recovery of funds related to the termination of an investment agreement [89]. - Contract assets as of December 31, 2022, were RMB 547,320,001.45, a decrease of approximately 9.87% from the previous year, due to project delays and cancellations caused by economic pressures and the pandemic [90]. Cash Flow and Investments - Cash and cash equivalents increased from RMB 379,312,843.32 in 2021 to RMB 472,877,356.21 in 2022, an increase of approximately 24.7% [22]. - The company has no commitments for significant future investments or capital assets beyond what is disclosed in the financial statements [47]. - The company’s investment income showed a significant decline, reporting a loss of $1.19 million compared to a gain of $9.78 million in the previous year [36]. - The company agreed to acquire a 50.50% stake in Qingdao Shuhua Digital Industry Investment Development Partnership for RMB 64,504,300.00 on December 28, 2022 [113]. - The company sold a 15.1236% stake in Nanjing Information Technology Investment Holdings Co., Ltd. for RMB 41,263,200 on June 28, 2022 [115]. - The company agreed to acquire a 12.00% stake in Qingdao Smart Fund from Sanbao Digital for RMB 36,401,800.00 [155]. - The company also agreed to acquire a 50.50% stake in Qingdao Digital Technology from Qingdao Baohua for RMB 64,504,300.00 [155]. Corporate Governance and Compliance - The company has implemented changes in accounting policies effective from January 1, 2022, which may impact future financial reporting [6][7]. - The company has adopted internal governance measures to comply with the corporate governance code, ensuring transparency and shareholder interests [46]. - The company is subject to the new accounting standards as per the Ministry of Finance's announcement on November 30, 2022 [161]. - The company has established an audit committee to oversee financial reporting and risk management since August 27, 2003 [160]. Strategic Focus and Market Conditions - The company operates in the IT application services industry, focusing on providing comprehensive solutions based on video recognition and RFID technology for smart transportation and customs logistics [13]. - The company faced significant impacts from the pandemic, leading to project delays and cancellations, which contributed to the decline in revenue [81]. - The company is focusing on providing integrated intelligent solutions in smart transportation, including cloud monitoring systems and traffic management systems, to enhance operational efficiency and safety [135][137]. - The company will continue to focus on smart transportation and smart customs as its core industries, aiming to enhance management efficiency in the transportation and customs logistics sectors [139]. - In the smart customs sector, the company aims to improve regulatory efficiency and reduce costs, leveraging new policies to accelerate customs clearance speed and promote trade circulation [140]. - The company anticipates a gradual recovery in policy and demand in the smart transportation sector over the next few years, focusing on digital transformation and market expansion [150]. - The global economic growth forecast for 2023 has been downgraded to 1.7%, indicating potential challenges for domestic economic recovery [149].

Financial Performance - For the six months ended June 30, 2022, the total revenue of Nanjing Sample Technology Co., Ltd. was RMB 531,667,245.37, a decrease of approximately 7.68% compared to the same period last year[6]. - The net loss attributable to the owners of the parent company for the same period was RMB 7,108,515.65, compared to a net profit of RMB 3,077,457.74 in the previous year[6]. - The basic loss per share for the six months ended June 30, 2022, was approximately RMB 0.009, compared to basic earnings of RMB 0.004 per share in the same period last year[6]. - Total revenue for 2022 was approximately RMB 531.67 million, a decrease of 7.66% from RMB 575.89 million in 2021[18]. - The net profit for 2022 was a loss of approximately RMB 10.60 million, compared to a profit of RMB 1.54 million in 2021, indicating a significant decline[21]. - The total comprehensive income for 2022 was a loss of approximately RMB 8.74 million, compared to a gain of RMB 1.86 million in 2021[40]. - Basic earnings per share for 2022 were RMB -0.009, a decline from RMB 0.004 in 2021[40]. Assets and Liabilities - The total current assets as of June 30, 2022, amounted to RMB 2,762,693,908.03, down from RMB 2,856,235,868.32 as of December 31, 2021[10]. - The total liabilities as of June 30, 2022, were RMB 1,549,221,040.70, a decrease from RMB 1,673,797,713.11 as of December 31, 2021[16]. - The total assets as of June 30, 2022, were RMB 3,417,935,774.46, down from RMB 3,551,256,967.65 as of December 31, 2021[12]. - The accounts receivable as of June 30, 2022, were RMB 348,015,201.16, compared to RMB 326,188,720.07 as of December 31, 2021[10]. - The company reported a total equity attributable to shareholders of the parent company of RMB 805,341,465.11 as of June 30, 2022, compared to RMB 812,449,980.76 as of December 31, 2021[16]. - The total amount of minority interests was RMB 36,605,471.28 at the end of the reporting period[48]. Cash Flow and Financial Management - The company reported a net cash flow from operating activities of approximately RMB 330.60 million for the first half of 2022, compared to a negative cash flow of RMB 200.93 million in the same period of 2021[42]. - Cash and cash equivalents increased to RMB 591,965,763.39 as of June 30, 2022, compared to RMB 379,312,843.32 as of December 31, 2021[10]. - The company recorded a financial expense of approximately RMB 16.56 million in 2022, down 41.91% from RMB 28.48 million in 2021[18]. - Financial expenses decreased by approximately 41.85% to RMB 16,559,991.37, attributed to a reduction in total loans and interest expenses[99]. - The debt ratio decreased to approximately 18.50% as of June 30, 2022, from 31.91% as of December 31, 2021, due to repayment of maturing loans[107]. Operational Efficiency and Cost Management - Total operating costs for 2022 were approximately RMB 548.90 million, down 5.13% from RMB 578.57 million in 2021[18]. - Research and development expenses decreased to approximately RMB 10.12 million in 2022, down 61.49% from RMB 26.23 million in 2021[18]. - Management expenses decreased by approximately 28.09% to RMB 18,434,711.70 from RMB 25,635,448.19 in the same period last year due to reduced office, travel, technical service, and entertainment expenses impacted by pandemic restrictions[96]. - Sales expenses for the six months ended June 30, 2022, were RMB 15,541,968.31, remaining flat compared to the previous year[94]. - Interest expenses decreased to RMB 19,905,565.78 from RMB 29,306,083.47 in the same period last year[70]. Strategic Initiatives and Innovations - The company has signed new projects including the cross-border e-commerce system in Zhenjiang and the intelligent customs system in Xiong'an[121]. - The company has developed several new products such as the highway guidance information release system and the food safety supervision platform, contributing to technological advancement and business expansion[124]. - The company aims to enhance management efficiency in the transportation and customs logistics industries, focusing on customer needs and market demands[125]. - The company is committed to innovation in the smart customs sector, aiming to improve regulatory efficiency and reduce costs while facilitating trade flow[127]. - The company is collaborating with Southeast University on key research projects related to low-emission driver behavior correction technologies[122]. Corporate Governance and Compliance - The company has fully complied with the corporate governance code as per the listing rules during the six-month period ending June 30, 2022[147]. - The audit committee, consisting of three independent non-executive directors, has reviewed the group's unaudited performance during the review period[146]. - There have been no significant changes to the company's articles of association during the review period[151]. - The company did not repurchase, redeem, or sell any of its listed securities during the review period[152]. Shareholder Information - Major shareholders include Nanjing Sanbao Technology Group Co., Ltd. with 397,821,000 domestic shares and 4,310,000 H shares, holding a controlling interest[137]. - The company has a total of 50.77% of its registered capital held by Tibet Zhuocai Venture Investment Management Co., Ltd. and Shanghai Jiaxin Enterprise Management Center (Limited Partnership)[139]. - No share options have been granted under the company's share option plan since its adoption[142].

Financial Performance - For the fiscal year ending December 31, 2021, the total revenue of Nanjing Sample Technology Co., Ltd. was RMB 914,013,755.55, a decrease of 3.38% compared to the previous year[34]. - The net loss attributable to shareholders of the parent company was RMB 59,244,735.65, a significant improvement from the net loss of RMB 139,375,086.61 in the same period last year[34]. - The total revenue for the year ended December 31, 2021, was RMB 914,013,755.55, a decrease of approximately 3.38% compared to the previous year[46]. - The gross profit margin for the same period was approximately 18.54%, a slight decline of about 0.11% from the previous year[47]. - Sales expenses decreased by approximately 11.16% to RMB 38,544,136.51, primarily due to reduced offline promotional activities[48]. - Management expenses increased by approximately 9.17% to RMB 58,204,990.99, mainly due to the establishment of a subsidiary in Qingdao[49]. - The net loss attributable to shareholders for the year was RMB 59,244,735.65, a reduction from RMB 139,375,086.61 in the previous year, due to decreased impairment losses and period expenses[50]. - The net profit margin improved from -16.58% to -6.29%, primarily due to a decrease in impairment losses and period expenses compared to the previous year[69]. - The return on equity increased from -7.70% to -2.98%, attributed to reduced impairment losses and period expenses compared to the previous year[70]. - The debt ratio as of December 31, 2021, was approximately 0.32, down from 0.36 in the previous year[64]. - The debt-to-asset ratio decreased from 52.69% to 47.13%, mainly due to a reduction in current liabilities, contract liabilities, and accounts payable during the reporting period[72]. - The current ratio rose from 1.60 to 1.84, reflecting a decrease in current liabilities, contract liabilities, and accounts payable[73]. - The quick ratio increased from 1.25 to 1.40, with changes attributed to the same factors affecting the current ratio[74]. - As of December 31, 2021, the company's distributable reserves amounted to RMB 812,449,980.76, a decrease from RMB 871,694,716.41 in 2020, representing a decline of approximately 6.8%[161]. Strategic Focus and Development - The strategic focus for 2021 was on optimizing assets and enhancing technological capabilities, particularly in the fields of smart transportation and smart customs[36]. - The company plans to explore new business opportunities in big data and new energy sectors, leveraging its strong technology and industry application experience[43]. - The company focused on smart transportation and smart customs, implementing various major projects to enhance traffic efficiency and safety[84]. - The company plans to focus on smart transportation and smart customs as core industries in 2022, aiming to improve management efficiency and reduce operational costs for clients[95]. - The company aims to innovate product models and extend scenarios in the smart customs sector to enhance trade facilitation and regulatory efficiency[96]. - In 2022, the company will explore new business areas such as low-carbon parks and smart energy, aligning with carbon neutrality policies[96]. Research and Innovation - In the smart transportation sector, the company launched several innovative products, including a highway event monitoring system and a vehicle management system for service areas, which have been successfully applied on multiple highways[37]. - The company expanded its research on product differentiation and application scenarios in the smart customs field, incorporating "5G+AI" technology for innovative regulatory models[39]. - The company is developing a comprehensive traffic big data center system to support smart transportation services and enhance public service development[98]. - The company is collaborating with universities and research institutions to leverage its technological advantages in the Internet of Things for smart highway product development[98]. - The company has filed 26 software copyrights and obtained 5 invention patents during the reporting period, demonstrating its commitment to intellectual property development[93]. Employee and Corporate Governance - The total employee compensation cost was RMB 68,909,057.67, with a total of 272 employees[82]. - The company has made efforts to provide a harmonious and safe working environment, promoting diversity and offering competitive compensation and career development opportunities[133]. - The company has a significant investment in training and development resources for employees to keep up with market trends and improve performance[133]. - The company has adopted corporate governance principles and has complied with the corporate governance code throughout the year ending December 31, 2021[181]. - The board is responsible for approving the group's strategic plans, annual budgets, and major operational measures[190]. - The company has confirmed that all independent non-executive directors are independent according to the relevant regulations[189]. - The remuneration committee, consisting of two independent non-executive directors and one executive director, is responsible for setting director remuneration policies and evaluating executive performance[200]. Environmental and Social Responsibility - The company is committed to sustainable development, integrating environmental goals into its business strategy and operations[124]. - The company aims to reduce pollution emissions and improve resource utilization as part of its commitment to becoming an environmentally friendly enterprise[124]. - The company will publish an Environmental, Social, and Governance (ESG) report by the end of May 2022, in accordance with the relevant guidelines[182]. - The company plans to disclose its 2021 Environmental, Social, and Governance (ESG) report by the end of May 2022, detailing its environmental performance[124]. Related Party Transactions and Shareholder Information - The company engaged in related party transactions, including the sale of a debt for RMB 153,311,928.00 and another for RMB 352,346,262.23, both approved by shareholders[174]. - The company entered into a framework agreement for rental with its major shareholder, with a maximum annual rent of RMB 8,000,000.00, and the actual rental expense for the year was RMB 3,103,036.98[175]. - The company has confirmed that related party transactions have complied with the disclosure requirements of the listing rules[179]. - The major shareholder, Sanbao Group, holds 397,821,000 domestic shares and 4,310,000 H shares, representing a 50.77% stake in the company[143]. - The company directly holds 397,821,000 domestic shares, representing approximately 50.22% of the total issued share capital[137]. Risks and Challenges - The ongoing COVID-19 pandemic poses risks to normal business operations, with the company actively monitoring the situation and adjusting its operational plans accordingly[121]. - The company faces policy risks due to its downstream customers being concentrated in industries like road traffic and customs logistics, which are closely tied to national investment policies[120]. - The company is focused on strengthening its technological research and development to mitigate risks associated with customer changes and technical challenges[123].

Financial Performance - The total revenue for the six months ended June 30, 2021, was RMB 575,885,384.90, representing a year-on-year increase of approximately 92.95%[3] - The net profit attributable to the owners of the parent company for the same period was RMB 3,077,457.74, a decrease of approximately 70.68% compared to the previous year[3] - The basic earnings per share for the six months ended June 30, 2021, was approximately RMB 0.004, down from RMB 0.013 in the same period last year[3] - Total operating revenue for the six months ended June 30, 2021, was approximately RMB 575.89 million, a significant increase of 93.3% compared to RMB 298.46 million in the same period of 2020[15] - Net profit for the six months ended June 30, 2021, was approximately RMB 1.54 million, a decrease of 84.9% compared to RMB 10.24 million in the same period of 2020[17] - The total comprehensive income attributable to the parent company for the six months ended June 30, 2021, was approximately RMB 1.86 million, a decrease from RMB 10.50 million in the same period of 2020[22] Assets and Liabilities - As of June 30, 2021, total assets amounted to RMB 4,412,221,538.84, compared to RMB 4,179,212,189.28 as of December 31, 2020[10] - Current assets totaled RMB 3,426,347,967.92 as of June 30, 2021, compared to RMB 3,175,733,347.67 as of December 31, 2020[7] - Current liabilities amounted to RMB 2,008,408,072.37 as of June 30, 2021, compared to RMB 1,980,423,444.49 as of December 31, 2020[12] - Total liabilities as of June 30, 2021, were RMB 2,433,255,062.61, an increase from RMB 2,202,103,537.56 as of December 31, 2020[14] - The total equity attributable to the owners of the parent company was RMB 1,978,966,476.23 as of June 30, 2021, compared to RMB 1,977,108,651.72 as of December 31, 2020[14] Operating Costs and Expenses - Total operating costs for the same period were approximately RMB 578.57 million, up from RMB 295.14 million, reflecting a 96.2% increase year-over-year[15] - Research and development expenses increased to approximately RMB 26.23 million, up 33.7% from RMB 19.63 million in the previous year[15] - The company reported a significant increase in financial expenses, totaling approximately RMB 28.48 million, compared to RMB 25.48 million in the previous year[15] - The company experienced a credit impairment loss of approximately RMB -10.74 million, compared to RMB -1.37 million in the same period of 2020[17] Dividend and Shareholder Information - The company does not recommend the payment of an interim dividend for the six months ended June 30, 2021[4] - The company did not declare an interim dividend for the first half of 2021, consistent with the previous year[86] - The company's total equity attributable to shareholders was RMB 2,115,590,006.13 as of June 30, 2021, compared to RMB 2,096,606,422.10 at the end of the previous year, showing a slight increase[55] Strategic Initiatives and Future Plans - The company has signed new projects including the G3W Dezhou to Shangrao Expressway and the expansion of the Nanjing to Ma'anshan National Expressway, enhancing its project portfolio[122] - The company aims to leverage IoT and Internet+ technologies to innovate products and solutions, building a smart city ecosystem[130] - The company is committed to enhancing its competitive edge by expanding its product R&D efforts and upgrading solutions for core customers and ecosystem partners[130] - The company has been approved as an official participant in the EU Horizon 2020 project, which aims to promote international technology cooperation and industry development[127] Corporate Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the group's unaudited performance during the review period and provided recommendations[153] - The company has fully complied with the corporate governance code as per the listing rules during the six-month period ending June 30, 2021[154]

Financial Performance - For the fiscal year 2020, the company's total revenue decreased by 36.39% to RMB 945,958,244.32, and it reported a net loss of RMB 139,375,086.61, compared to a net profit of RMB 107,023,458.97 in 2019[31]. - The decline in revenue was primarily due to the impact of COVID-19, which caused project delays and reduced customer payments[31]. - The gross profit margin for the same period was approximately 18.65%, down about 8.21% year-on-year, attributed to project delays and increased procurement costs due to COVID-19[49]. - The net loss attributable to shareholders for the year was RMB 139,375,086.61, compared to a net profit of RMB 107,023,458.97 in the previous year, mainly due to decreased revenue and delayed customer payments[52]. - The group's net profit margin decreased from 5.65% in the previous year to -16.58% due to a decline in operating income and increased impairment provisions related to COVID-19[68]. - The return on equity fell from 3.88% to -7.70%, primarily due to the same factors affecting net profit margin[70]. - The company's distributable reserves as of December 31, 2020, amounted to RMB 871,694,716.41, down from RMB 1,011,075,961.59 in 2019[175]. Dividend Policy - The board of directors proposed not to distribute a final dividend for the year ended December 31, 2020, to maintain sufficient liquidity amid market uncertainties[32]. - The board of directors recommended not to declare a final dividend for the year ending December 31, 2020, consistent with the previous year[140]. - The company did not declare any dividends during the fiscal year ending December 31, 2020[176]. Strategic Focus and Innovation - The company focused on long-term business layout and organizational evolution, optimizing internal structures and enhancing technological capabilities[33]. - The company emphasized the importance of technology-driven innovation to improve market competitiveness and adapt to the evolving logistics supply chain landscape[37]. - The company plans to focus on smart transportation and customs logistics, leveraging Internet of Things (IoT) technology and innovation to enhance service offerings[46]. - The company aims to increase R&D investment in IoT solutions to boost competitiveness in smart transportation and logistics sectors[43]. - The company is actively exploring the application of traffic big data analysis in new fields, integrating smart transportation concepts into its business[94]. - The company actively participated in the national IoT standardization efforts, leading the development of the national standard for IoT information sharing and exchange, which was officially implemented on March 1, 2020[98]. - In 2021, the company plans to focus on smart transportation and smart logistics, emphasizing customer-centric innovation driven by technology, and aims to enhance its market position in these sectors[99]. Market Development and Competitiveness - The company actively sought collaborations to enhance market competitiveness and achieve breakthroughs in new markets[36]. - The strategic goal for 2020 included continuous optimization of market layout and improvement of user satisfaction[33]. - The company continued to optimize its market layout in the intelligent transportation sector, aiming to strengthen its market leadership[91]. - The company aims to expand its supply chain service business in 2021, implementing a strategy for a "smart supply chain" that integrates digital research and development[102]. - The company aims to enhance its competitive edge by leveraging its strengths in technology research and development, comprehensive business qualifications, and brand recognition[131]. Operational Efficiency - During the review period, the company successfully completed projects without safety incidents and maintained project schedules despite the challenges posed by the pandemic[36]. - The company implemented a comprehensive customs supervision information system for multiple bonded zones, facilitating a more efficient office environment for customs and enterprises[37]. - The company reported a stable growth environment due to the continuous increase in fixed asset investment in the macro economy, which is closely related to its downstream customers in road traffic and customs logistics[130]. Employee and Social Responsibility - The total employee compensation cost for the company was approximately RMB 65,274,729.05, an increase from RMB 64,047,722.15 in the previous year, with a total of 290 employees[88]. - The company has been recognized for its corporate social responsibility efforts, being included in the "2019 Jiangsu Province Corporate Social Responsibility Model List"[40]. - The company is committed to sustainable development by integrating environmental goals into its business operations and reducing pollution emissions[133]. - The company will disclose its 2020 Environmental, Social, and Governance report by the end of May[134]. Investments and Acquisitions - The company agreed to acquire 100% of the Xuyi Fund from Nanjing Dongbang for RMB 450,000,000, with a decision pending on whether to proceed with the acquisition[81]. - The company will acquire 60% equity in Qingdao Big Data Technology Development Co., Ltd. from Qingdao West Coast Development Group for RMB 30,000,000, and will increase the registered capital of the company by RMB 25,000,000[82]. - The company invested RMB 25,000,000 in a partnership fund with a total capital of RMB 500,000,000, which will not be consolidated into the company's financial statements[84]. - The company acquired 60% equity in Qingdao Big Data Technology Development Co., Ltd. for RMB 30,000,000 and increased its registered capital from RMB 50,000,000 to RMB 75,000,000 by contributing an additional RMB 25,000,000[193]. Financial Position and Liquidity - The company's operating capital as of December 31, 2020, was RMB 1,195,309,903.18, up from RMB 807,688,234.33 the previous year, indicating improved liquidity[58]. - The current ratio improved from 1.37 to 1.60, attributed to an increase in current assets during the reporting period[72]. - The quick ratio rose from 0.77 to 1.25, reflecting the same reasons as the increase in the current ratio[73]. - The non-current liabilities due within one year decreased by 56.30% to RMB 156,000,000, reflecting repayment of long-term borrowings[57]. - As of December 31, 2020, the total bank borrowings of the group amounted to RMB 1,098,285,488.89, a decrease from RMB 1,173,529,550.35 as of December 31, 2019[59]. Shareholding Structure - The company has a substantial shareholding structure, with Jiangsu Sanbao Holding Co., Ltd. holding 50.77% of the registered capital through direct and indirect ownership[149]. - The company has a complex ownership structure involving multiple layers of control, with significant stakes held by various investment management companies[150]. - The company’s major shareholders include Nanjing Sanbao Technology Group Co., Ltd., which holds 50.77% of the registered capital[153]. - The company has a significant shareholder structure, with Sanbao Group holding 51% of the shares, making it the largest shareholder[1]. Customer and Supplier Concentration - The company reported that the top five customers accounted for 57.84% of total sales, with the largest customer contributing 30.44% of total sales[167]. - The top five suppliers represented 45.83% of total purchases, with the largest supplier accounting for 34.84% of total purchases[168].

Financial Performance - The total revenue for the six months ended June 30, 2020, was RMB 298,462,892.82, a decrease of approximately 63.47% compared to the same period last year[5]. - The net profit attributable to the owners of the parent company for the same period was RMB 10,496,067.21, down about 88.81% year-on-year[5]. - The basic earnings per share for the six months ended June 30, 2020, was approximately RMB 0.013, compared to RMB 0.118 for the same period in 2019[5]. - The net profit for the six months ended June 30, 2020, was RMB 10,239,936.17, a significant decrease from RMB 88,796,485.09 in the same period of 2019, representing a decline of approximately 88.5%[33]. - Total revenue for the six months ended June 30, 2020, was RMB 13,900,959.06, compared to RMB 107,608,603.61 in 2019, indicating a decrease of about 87.1%[33]. - The total comprehensive income attributable to the owners of the parent company for the six months was RMB 10,503,220.31, compared to RMB 86,825,651.70 in 2019, a decrease of about 87.9%[57]. - Cash flow from operating activities for the six months ended June 30, 2020, was negative at RMB -79,337,483.47, contrasting with a positive cash flow of RMB 120,097,470.91 in 2019[60]. - The company reported a net profit attributable to owners of the parent of RMB 10,496,067.21, a significant decline of 88.8% from RMB 93,769,545.92 in 2019[104]. Assets and Liabilities - The total current assets as of June 30, 2020, amounted to RMB 3,013,470,505.35, an increase from RMB 2,975,609,052.58 as of December 31, 2019[9]. - The total liabilities as of June 30, 2020, were RMB 2,360,117,551.74, compared to RMB 2,344,028,447.66 as of December 31, 2019[13]. - The total equity attributable to the owners of the parent company was RMB 2,050,074,546.52 as of June 30, 2020, slightly up from RMB 2,039,315,195.16 at the end of 2019[15]. - Total bank borrowings amounted to RMB 1,271,430,644.85, an increase from RMB 1,173,529,550.35 as of December 31, 2019[124]. - As of June 30, 2020, the company's debt ratio was approximately 53.98%, an increase from 49.05% on December 31, 2019, due to increased bank loans for project procurement and prepayments[129]. Expenses and Costs - Operating costs for the same period were RMB 204,675,144.25, up from RMB 619,697,654.26 in 2019, reflecting a reduction in operational efficiency[32]. - Research and development expenses for the six months ended June 30, 2020, were RMB 19,626,727.15, compared to RMB 21,659,396.02 for the same period last year[22]. - The company reported a financial expense of RMB 25,477,374.66 for the six months ended June 30, 2020, down from RMB 31,951,075.98 in 2019, indicating a reduction in financing costs[32]. - Employee costs for the period were RMB 26,755,378.47, down from RMB 32,301,246.93 in the same period last year, with total employees reduced to 255 from 316[127]. Dividends and Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2020[6]. - The company did not declare an interim dividend for the six months ended June 30, 2020, consistent with the previous year[105]. - The company has a major shareholder, Sanbao Group, holding 397,821,000 domestic shares and 4,310,000 H shares, representing a significant control over the company[165]. - Active Gold Holding Limited is fully owned by Jian Ying Sample High Growth Investment Fund, indicating a concentrated ownership structure[166]. Strategic Developments - The company has developed new products in the customs intelligent logistics sector, including an AI container number recognition system, which has successfully entered the market and received project orders[148]. - The company is actively exploring traffic big data analysis applications in new areas, enhancing its project management and data service capabilities[144]. - The company has maintained a focus on strategic cooperation within the industry to expand new market areas and business projects[141]. - The group plans to increase R&D investment in core technology areas to drive transformation in growth methods[152]. - The focus for the second half of the year will be on intelligent transportation for highways and smart logistics for customs, integrating Internet and IoT technologies[152]. Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the group's unaudited performance during the review period, ensuring compliance and oversight[175]. - The company has fully complied with the corporate governance code as per the listing rules during the review period, reflecting strong governance practices[176]. - There were significant changes in the board of directors, with new appointments and resignations, which may impact future strategic directions[177]. - The company's articles of association did not undergo any significant changes during the review period, suggesting stability in governance[182]. Research and Development - The group has applied for 15 new software copyrights and obtained 1 invention patent and 9 software copyrights during the review period[149]. - The group emphasizes the importance of intellectual property application and protection during the review period[149].