Financial Performance - The company's revenue for the year ended December 31, 2023, decreased by 4.3% to RMB 84.369 million from RMB 88.186 million in 2022[13]. - The net loss for the year was RMB 49.318 million, compared to a net loss of RMB 43.550 million in the previous year[14]. - The total assets as of December 31, 2023, were RMB 165.740 million, down from RMB 193.804 million in 2022[9]. - The total liabilities decreased to RMB 107.533 million in 2023 from RMB 113.898 million in 2022[9]. - Basic and diluted loss per share for 2023 was RMB 2.92, slightly higher than RMB 2.88 in 2022[14]. - The gross profit margin decreased due to increased impairment losses and financial costs[13]. - The gross profit margin fell to 25.1% in 2023 from 43.6% in 2022, primarily due to changes in product mix and inventory impairment losses[32]. - The company recorded a net loss of RMB 493 million during the reporting period[20]. - Other income rose by 53.8% to RMB 40 million, primarily due to increased government subsidies and licensing income[33]. - Administrative expenses decreased by 34.0% to RMB 188 million, mainly due to cost control initiatives[36]. - Research and development expenses decreased by 13.8% to RMB 6.9 million from RMB 8.0 million for the year ended December 31, 2022, primarily due to cost control measures[37]. - Financial income fell by 80.6% to RMB 12,000 from RMB 62,000 for the year ended December 31, 2022[38]. - Financial costs increased by 51.0% to RMB 7.7 million from RMB 5.1 million for the year ended December 31, 2022, mainly due to interest on borrowings being charged for the full year[39]. Revenue Breakdown - Revenue from health products reached RMB 197.4 million, contributing 23.4% to total revenue in 2023[23]. - Direct sales from consignment stores decreased by 31.6% to RMB 181.9 million, attributed to reduced consumer spending amid economic challenges[27]. - Revenue from online platforms increased by 12.5% to RMB 224.6 million, driven by enhanced marketing through social media[30]. - Revenue from physical sales locations surged by 378.2% to RMB 263.0 million, mainly due to the launch of health products[31]. - The company's revenue decreased by 4.3% from RMB 882 million in 2022 to RMB 844 million in 2023[20]. Strategic Initiatives - The company launched new products including natural mineral water and eye care products during the reporting period[16]. - The company plans to implement measures to enhance financial performance and continue strict cost control[16]. - The company aims to diversify its business segments to create value for shareholders[16]. - The company plans to continue developing new products to meet consumer demand and implement strict cost control measures[20]. Corporate Governance - The company emphasizes the importance of corporate governance and compliance in its operations[96]. - The board consists of six directors, including two executive directors and four independent non-executive directors[99]. - The company held 14 board meetings during the year ended December 31, 2023, with full attendance from all directors[104]. - The audit committee, composed of independent non-executive directors, reviewed and discussed the annual report for the year ended December 31, 2023[111]. - The company is committed to adhering to corporate governance practices in line with the listing rules, with a focus on transparency and accountability[98]. - The roles of the chairman and CEO are held by the same individual, which the board believes provides strong and consistent leadership[98]. - All independent non-executive directors confirmed their independence according to the listing rules[104]. - The board has established three committees to assist in fulfilling its responsibilities and to promote effective management[109]. - The company has undergone several changes in its board composition since 2018, enhancing its governance structure[88][93]. Risk Management and Internal Controls - The board emphasizes the importance of risk management and internal controls, delegating the implementation to management while maintaining oversight[127]. - The company has established a risk management and internal control system, which is deemed effective and sufficient by the board and audit committee[131]. - Risk identification, assessment, and management procedures are conducted regularly to mitigate potential business impacts[128][129]. - The company has not established an internal audit function, as the board believes it has sufficient capacity to oversee risk management and internal controls[127]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers the company's performance from January 1, 2023, to December 31, 2023[165]. - The company has set targets to reduce emissions from its operations and is evaluating the effectiveness of its environmental, social, and governance (ESG) policies and management systems[168]. - Major identified environmental issues include greenhouse gas emissions, energy consumption, and waste management, which are prioritized for monitoring and resolution[177]. - The company aims to provide equal employment opportunities and reduce environmental pollution as part of its social responsibility initiatives[174]. - The effectiveness of the ESG strategy is reviewed annually to ensure alignment with stakeholder feedback and business operations[171]. - The company confirms that all information presented in the ESG report is accurate and reliable, having undergone internal review and board approval[179]. Shareholder Engagement - The company encourages shareholders to attend all general meetings and has established procedures for calling special meetings[149]. - The company has implemented a shareholder communication policy to ensure timely and comprehensive information dissemination[153]. - The board has proposed amendments to the articles of association to enhance shareholder protections[160]. - The company emphasizes the importance of electronic communication with shareholders to reduce environmental impact[154].

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 84,369,000, a decrease of 4.6% from RMB 88,186,000 in 2022[2]. - Gross profit for the same period was RMB 21,217,000, resulting in a gross margin of 25.1%, down from 43.6% in 2022[2][5]. - The net loss for the year was RMB 49,318,000, compared to a net loss of RMB 43,550,000 in 2022, reflecting an increase in losses[5][6]. - Basic and diluted loss per share was RMB 2.92, slightly higher than RMB 2.88 in the previous year[6]. - The group reported total revenue of RMB 84,369,000 for 2023, a decrease of 4.6% from RMB 88,186,000 in 2022[23]. - The group incurred a total segment loss of RMB 37,522,000, with kitchenware segment loss at RMB 35,618,000 and health products at RMB 1,904,000[25]. - The company recorded a tax expense of RMB 35,000 in 2023, compared to RMB 344,000 in 2022, reflecting a decrease in deferred tax liabilities[32]. - The net loss for the reporting period was RMB 493 million, attributed to reduced gross margin and increased impairment losses and financial costs[44]. - The gross margin dropped to 25.1% in 2023 from 43.6% in 2022, primarily due to changes in the product mix and inventory impairment losses[57]. Assets and Liabilities - Total assets decreased to RMB 165,740,000 from RMB 193,804,000 in 2022, indicating a reduction in overall asset base[8]. - Current liabilities amounted to RMB 102,170,000, while cash and cash equivalents were RMB 33,951,000, raising concerns about liquidity[16]. - The group’s total liabilities were RMB 107,533,000, including borrowings of RMB 69,499,000[28]. - Trade receivables increased to RMB 28,315,000 in 2023 from RMB 17,705,000 in 2022, with a provision for losses rising to RMB 9,909,000 from RMB 4,402,000[36]. - Current assets net value decreased from RMB 58.3 million as of December 31, 2022, to RMB 32.9 million[74]. - The current ratio decreased from 1.5 times as of December 31, 2022, to 1.3 times[75]. Cash Flow and Financing - The company plans to secure additional funding through equity financing and bank revolving loans to meet operational needs[16]. - The company has negotiated extensions on certain borrowings, with amounts of approximately RMB 18,124,000 and RMB 18,125,000 due in July 2024 and August 2025, respectively[16]. - Cash and cash equivalents rose to RMB 33,951,000 in 2023 from RMB 11,593,000 in 2022, with no restricted cash reported in 2023[38]. - Trade payables decreased to RMB 11,346,000 in 2023 from RMB 15,836,000 in 2022, indicating improved cash flow management[39]. - The company completed a share placement on May 25, 2023, raising approximately HKD 13.6 million, with HKD 11 million allocated for repaying part of the group's other borrowings and HKD 2.6 million for operational funding[87][89]. - A second share placement was completed on July 31, 2023, raising approximately HKD 12.9 million, all of which is intended for repaying part of the group's other borrowings by the end of 2023[90][92]. - A third share placement was completed on September 7, 2023, raising approximately HKD 4.1 million, which will also be used for repaying part of the group's other borrowings by the end of 2023[93][94]. - The total net proceeds from the three placements amount to approximately HKD 30.6 million, all designated for debt repayment[89][92][94]. Operational Highlights - Kitchenware segment generated revenue of RMB 64,627,000, while health products contributed RMB 19,742,000 in 2023[25]. - Revenue from health products reached RMB 197 million, contributing 23.4% to total revenue, marking the introduction of new products during the reporting period[47]. - Direct sales from consignment stores decreased by 31.6% to RMB 182 million, reflecting reduced consumer spending amid economic challenges[51]. - Revenue from online platforms increased by 12.5% to RMB 225 million, driven by enhanced marketing through social media[54]. - Revenue from physical sales locations surged by 378.2% to RMB 263 million, largely due to the launch of health products[55]. - The company plans to continue developing new products to meet consumer demand and implement strict cost control measures[44]. - Other income rose by 53.8% to RMB 40 million, mainly due to increased government subsidies and licensing income[59]. - Administrative expenses decreased by 34.0% to RMB 188 million, attributed to effective cost control measures[63]. Compliance and Governance - The company has confirmed compliance with the corporate governance code, except for the provision regarding the separation of the roles of Chairman and CEO[99][101]. - The audit committee reviewed the group's accounting principles and financial reporting systems, confirming that the consolidated financial statements were prepared in accordance with applicable standards[104]. - The independent auditor's report stated that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2023[107]. - There were no significant matters reported by the group after the year ended December 31, 2023, up to the date of this announcement[111].

Financial Performance - For the year ended December 31, 2023, the total revenue was RMB 84,369,000, a decrease of 4.6% from RMB 88,186,000 in 2022[2]. - Gross profit for the same period was RMB 21,217,000, resulting in a gross margin of 25.1%, down from 43.6% in 2022[2][5]. - The net loss for the year was RMB 49,318,000, compared to a net loss of RMB 43,550,000 in 2022, indicating a worsening financial performance[2][5]. - Basic and diluted loss per share was RMB 2.92, slightly higher than RMB 2.88 in the previous year[6]. - The group reported total revenue of RMB 84,369,000 for 2023, a decrease of 4.6% from RMB 88,186,000 in 2022[23]. - The group incurred a total segment loss of RMB 37,522,000, with kitchenware segment loss at RMB 35,618,000 and health products segment loss at RMB 1,904,000[25]. - The company recorded a net loss of RMB 493 million during the reporting period due to reduced gross margin and increased impairment losses and financial costs[44]. - Net loss increased from RMB 43.6 million for the year ended December 31, 2022, to RMB 49.3 million[69]. Assets and Liabilities - Total assets decreased to RMB 165,740,000 from RMB 193,804,000 in 2022, reflecting a decline of approximately 14.5%[8]. - Current liabilities amounted to RMB 102,170,000, while cash and cash equivalents were RMB 33,951,000, indicating potential liquidity challenges[16]. - The group’s total liabilities were RMB 107,533,000, including borrowings of RMB 69,499,000[28]. - Trade receivables increased to RMB 28,315,000 in 2023 from RMB 17,705,000 in 2022, with a provision for losses rising to RMB 9,909,000 from RMB 4,402,000[36]. - Current assets net value decreased from RMB 58.3 million as of December 31, 2022, to RMB 32.9 million[74]. - The current ratio decreased from 1.5 times as of December 31, 2022, to 1.3 times[75]. Revenue Segments - Kitchenware segment generated revenue of RMB 64,627,000, down from RMB 88,186,000 in the previous year[23]. - Health products segment contributed RMB 19,742,000 in revenue, which was newly introduced in 2023[23]. - Revenue from health products reached RMB 197.4 million, contributing 23.4% to total revenue, as the company expanded its product offerings[47]. - Direct sales from consignment stores decreased by 31.6% to RMB 182 million, attributed to reduced consumer spending amid economic challenges[51]. - Revenue from online platforms increased by 12.5% to RMB 225 million, driven by enhanced marketing through social media[54]. - Revenue from physical sales locations surged by 378.2% to RMB 263 million, mainly due to the launch of health products during the reporting period[55]. Cost and Expenses - Total expenses for sales cost, selling and distribution expenses, research and development expenses, and administrative expenses amounted to RMB 123,198,000 in 2023, a decrease of 4.4% from RMB 128,613,000 in 2022[30]. - Administrative expenses decreased by 34.0% to RMB 188 million, mainly due to cost control measures[63]. - Financial revenue decreased by 80.6% from RMB 62 million for the year ended December 31, 2022, to RMB 12 million[65]. - Financial costs increased by 51.0% from RMB 5.1 million for the year ended December 31, 2022, to RMB 7.7 million, primarily due to interest on borrowings being charged for the entire year[66]. Funding and Financing - The company plans to secure additional funding through equity financing and bank revolving loans to meet operational and debt obligations[16]. - The company plans to issue 18,903,000 new shares at a placement price of HKD 1.13 per share, with approximately 97.1% of the net proceeds intended for repaying other borrowings[115]. - The company completed a placement of 171,880,000 shares at a net price of approximately HKD 0.079 per share, raising a net amount of approximately HKD 13.6 million, with HKD 11 million allocated for repaying part of the group's other borrowings and HKD 2.6 million for operational funding[87]. - A subsequent placement raised approximately HKD 12.9 million, all of which is intended for partial repayment of the group's other borrowings by the end of 2023[90]. - A third placement completed raised approximately HKD 4.1 million, also designated for partial repayment of the group's other borrowings by the end of 2023[93]. - The total net amount from the three placements is approximately HKD 30.6 million, all aimed at reducing the company's debt burden[89]. Corporate Governance - The roles of the chairman and CEO are held by the same individual, which the board believes provides strong and consistent leadership for effective business decision-making[101]. - The company has established corporate governance practices that comply with the requirements of the listing rules, with the exception of a specific provision regarding the separation of the chairman and CEO roles[99]. - The company has confirmed compliance with the standard code of conduct for securities trading by all directors during the reporting period[98]. Shareholder Matters - The company did not declare any dividends for the years ended December 31, 2023, and 2022[40]. - The company did not recommend the payment of a final dividend for the reporting period[70]. - The board proposed a share consolidation, merging every 25 existing shares of HKD 0.01 each into one consolidated share of HKD 0.25, subject to shareholder approval on March 27, 2024[109]. - The company plans to conduct a share consolidation, merging every 25 existing shares into one new share, subject to shareholder approval[42]. Audit and Compliance - The audit committee reviewed the group's accounting principles and financial reporting systems, concluding that the consolidated financial statements were prepared in accordance with applicable standards[104]. - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2023[107]. - The company has no significant matters to disclose beyond what has been reported for the year ended December 31, 2023[111]. - The annual results announcement will be published on the Hong Kong Stock Exchange and the company's website[112].

Revenue and Sales Performance - For the six months ended June 30, 2023, the company's revenue increased by 20.4% to approximately RMB 517.1 million, compared to RMB 429.4 million for the same period in 2022[10]. - The revenue breakdown by product category shows that health products contributed RMB 191.4 million, accounting for 37.0% of total revenue, while traditional cooking appliances saw a decline in revenue share[14]. - Direct sales from consignment stores decreased by 34.2% to RMB 72.8 million, primarily due to poor economic conditions and reduced consumer spending[18]. - Revenue from television platforms dropped by 57.8% to RMB 79.3 million, reflecting the impact of economic challenges on consumer expenditure[22]. - Online platform sales increased by 25.9% to RMB 106.8 million, driven by enhanced marketing through social media channels[23]. - The company’s revenue from distributors and physical sales locations accounted for 68.6% of total revenue, indicating a shift in sales strategy[17]. - Sales revenue from physical retail locations increased 8.2 times to RMB 24.8 million during the interim period, primarily due to the launch of health products[24]. - Total revenue for the six months ended June 30, 2023, was RMB 51,710,000, an increase from RMB 42,943,000 in the same period of 2022, representing a growth of 20.5%[92]. - Revenue from kitchenware was RMB 32,568,000, while health products generated RMB 19,142,000, indicating a diversification in product offerings[92]. - Approximately RMB 20,651,000 of revenue came from two external customers, each contributing over 10% to total revenue, indicating reliance on key clients[95]. Financial Performance - The company recorded a net loss of RMB 206 million during the interim period, attributed to declining gross margins and increased financial costs[10]. - The group reported a loss before tax of RMB 20,225,000 for the six months ended June 30, 2023, compared to a loss in the previous period, highlighting ongoing financial challenges[94]. - The net loss attributable to the owners of the company for the period was RMB 20,610,000, compared to RMB 18,207,000 in the previous year, reflecting a 13.2% increase in losses[64]. - The company reported a financial cost of RMB 4,607,000 for the period, significantly higher than RMB 621,000 in the previous year, indicating increased borrowing costs[64]. - The company reported a loss of RMB (20,610,000) attributable to owners for the six months ended June 30, 2023, compared to a loss of RMB (18,207,000) in 2022[108]. - The group reported a net cash outflow from operating activities of RMB 14,723,000 for the six months ended June 30, 2023, compared to RMB 5,984,000 for the same period in 2022, indicating a significant increase in cash usage[75]. - The company recorded a loss of RMB 20,610,000 for the six months ended June 30, 2023, compared to a loss of RMB 18,273,000 for the same period in 2022[73]. Cost Management and Expenses - Gross profit margin decreased from 44.7% to 32.3%, attributed to changes in product mix and lower margins on health products compared to kitchenware[25]. - Selling and distribution expenses decreased by 28.3% to RMB 16.2 million, mainly due to reduced agency fees and a lower proportion of sales through television platforms[29]. - Administrative expenses decreased by 10.2% to RMB 11.4 million, primarily due to a reduction in legal and professional fees[30]. - Research and development expenses decreased by 14.3% to RMB 3.6 million, as a result of cost control measures[31]. - Material costs for the six months ended June 30, 2023, increased to RMB 33,316,000 from RMB 21,530,000 in 2022, representing a 54.7% increase[10]. - The total expenses for sales costs, selling and distribution expenses, administrative expenses, and R&D expenses were not detailed but included significant increases in material costs and employee benefits[10]. Strategic Initiatives and Future Plans - The company plans to continue developing new products that meet consumer demand, having launched natural mineral water and eye care products during the interim period[10]. - The company is implementing strict cost control measures to reduce expenses and is considering diversifying its business segments to create value for shareholders[10]. - The company has approved the establishment of a wholly-owned subsidiary with a registered capital of RMB 5 million to develop hydrogen energy business in China[49]. - The company also plans to establish a subsidiary to design and launch an AI chatbot and live streaming platform to enhance customer experience[49]. - The company plans to fully utilize the remaining proceeds from the placement by the end of 2023, ensuring adequate funding for operations[57]. Assets and Liabilities - As of June 30, 2023, the company's current ratio was 1.4 and the debt-to-equity ratio was 1.2[40]. - Total assets as of June 30, 2023, amounted to RMB 192,731,000, a slight decrease from RMB 193,804,000 as of December 31, 2022[69]. - Current liabilities increased to RMB 116,219,000 from RMB 109,193,000, reflecting a rise of approximately 6.5%[70]. - The total equity decreased to RMB 71,236,000 as of June 30, 2023, down from RMB 79,906,000 at the end of 2022, representing a decline of about 10.5%[73]. - The company’s borrowings increased to RMB 79,481,000 from RMB 74,263,000, an increase of about 7.5%[70]. - Total borrowings increased to RMB 84,111,000 as of June 30, 2023, compared to RMB 78,643,000 as of December 31, 2022, marking a rise of approximately 6.3%[132]. - The weighted average interest rate on borrowings rose to 10.32% as of June 30, 2023, up from 9.62% as of December 31, 2022[133]. Governance and Compliance - The company has adopted a set of corporate governance practices that comply with the requirements of the corporate governance code[156]. - The roles of the chairman and CEO are held by the same individual, Ms. Ji, which the board believes provides strong and consistent leadership[156]. - The company has no knowledge of any conflicts of interest involving directors or major shareholders during the interim period[153]. - The company has not established any arrangements for directors to purchase shares or debt securities for profit during the reporting period[145]. - The company has not received any notifications of additional interests or short positions in its shares as of June 30, 2023[148]. Employment and Workforce - As of June 30, 2023, the group had a total of 174 employees, a slight increase from 173 employees at the end of 2022[52]. Shareholder Information - Basic and diluted loss per share for the period was RMB 1.34, compared to RMB 1.21 in the previous year, indicating a decline in shareholder value[66]. - The company issued 171,880,000 shares at a placement price of HKD 0.08 per share, increasing the total issued shares to 1,671,880,000 as of June 30, 2023[128]. - The company completed a placement of 163,120,000 new shares at a price of HKD 0.08 per share, raising approximately HKD 12.9 million for debt repayment[142]. - The net proceeds from the placement will be used for partial repayment of the group's other borrowings by the end of 2023[158].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Volcano Spring International Holdings Limited 火 山 邑 動 國 際 控 股 有 限 公 司 （前稱Miji International Holdings Limited米技國際控股有限公司） （於開曼群島註冊成立的有限公司） （股份代號：1715） 截至2023年6月30日止六個月 中期業績公告 財務摘要 截至6月30日止六個月 2023年 2022年 （未經審核）（未經審核） 收益（人民幣千元） 51,710 42,943 毛利（人民幣千元） 16,725 19,179 毛利率(%) 32.3 44.7 期內虧損淨額（人民幣千元） (20,610) (18,273) 每股虧損 －基本及攤薄（人民幣分） (1.34) (1.21) ...

Financial Performance - The company's revenue for the year ended December 31, 2022, decreased by 38.7% to RMB 88.2 million from RMB 143.9 million in 2021[14] - The net loss for the year was RMB 43.6 million, slightly improved from a net loss of RMB 43.9 million in 2021[15] - Total assets as of December 31, 2022, were RMB 193.8 million, compared to RMB 190.7 million in 2021[11] - The total liabilities increased to RMB 113.9 million in 2022 from RMB 66.6 million in 2021[11] - Basic and diluted loss per share for 2022 was RMB 2.88, compared to RMB 2.96 in 2021[15] - Net loss for the period was RMB 43.6 million, a slight decrease from RMB 43.9 million for the year ended December 31, 2021, with the net loss margin increasing to 49.4% from 30.5%[45] Revenue Breakdown - The main product category, radiant cookers, accounted for 71.8% of total revenue, generating approximately RMB 63.3 million[23] - Direct sales from distributors decreased by 23.1% to RMB 26.6 million, primarily due to government-imposed quarantine measures and reduced consumer spending[29] - Sales to corporate clients increased by 60.0% to RMB 3.2 million, attributed to more procurement orders from property developers[30] - Revenue from television platforms fell by 40.0% to RMB 32.9 million, mainly due to decreased consumer spending[31] - Online platform sales decreased by 42.4% to RMB 20.0 million, reflecting reduced consumer expenditure[32] Cost and Expenses - Gross profit margin declined to 43.6% from 45.4% in the previous year, driven by rising raw material costs[34] - Other income decreased by 45.8% to RMB 2.6 million, primarily due to a reduction in licensing income from an associate[35] - Selling and distribution expenses decreased by 41.8% to RMB 42.5 million, consistent with the decline in sales revenue[37] - Administrative expenses remained relatively stable at RMB 28.5 million, compared to RMB 27.1 million in the previous year[38] - Research and development expenses decreased by 23.8% to RMB 8.0 million from RMB 10.5 million for the year ended December 31, 2021, primarily due to cost control measures[39] - Financial income decreased by 32.6% to RMB 62,000 from RMB 92,000 for the year ended December 31, 2021, mainly due to a reduction in funds held as time deposits[40] - Financial costs increased by 240.0% to RMB 5.1 million from RMB 1.5 million for the year ended December 31, 2021, primarily due to increased borrowings[41] Business Strategy and Operations - The company plans to diversify its business operations and explore potential opportunities to create value for shareholders[17] - The management has taken actions to mitigate the adverse effects of COVID-19, including closing underperforming stores and enhancing distributor management[14] - New products targeting outdoor activities have been developed to cater to changing consumer preferences[14] - The company aims to maintain a cautious approach to business development while implementing measures to improve sales performance and reduce operational costs[17] - The company has fully resumed its business operations after a temporary suspension due to COVID-19 lockdowns in Shanghai[14] Corporate Governance - The company is committed to establishing good corporate governance practices to enhance transparency and accountability to shareholders[80] - The board has adopted a set of corporate governance practices that comply with the requirements of the Listing Rules[81] - The company’s financial director, Ms. Lin, has over 20 years of experience in accounting, financial management, and auditing[78] - The company has received independent confirmations from all independent non-executive directors regarding their independence[88] - The board believes that effective corporate governance is key to creating more value for shareholders[80] Environmental, Social, and Governance (ESG) Initiatives - The company aims to achieve carbon neutrality by 2030, aligning with global sustainability trends[73] - The company has implemented policies to reduce emissions and improve resource efficiency, adhering to various Chinese environmental regulations[162] - As of December 31, 2022, the company reported a significant reduction in air pollutant emissions, with nitrogen oxides (NOx) emissions decreasing to 55.40 kg from 492.90 kg in 2021[164] - The company has established a governance framework for environmental, social, and governance (ESG) management, which includes the board of directors and management team overseeing ESG strategies and reporting[147] - Key performance indicators (KPIs) have been developed to assess the effectiveness of the company's ESG policies, with comparisons made to previous years[155] Employee and Labor Relations - As of December 31, 2022, the total number of full-time employees in the group was 173, a decrease from 248 in 2021[189] - The employee turnover rate in China was 30.1% for 2022, significantly up from 3.5% in 2021[190] - The group reported a total of 1 work-related injury case exceeding 3 days, resulting in 90 days lost due to injury[199] - The gender distribution of employees as of December 31, 2022, was 27.2% male (47 employees) and 72.8% female (126 employees)[192] - The group has established a comprehensive training program for employees, tailored to their needs, including onboarding and job-specific training[200]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Miji International Holdings Limited 米 技 國 際 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1715） 截至2022年12月31日止年度全年業績公告 財務摘要 截至12月31日止年度 2022年 2021年 收益（人民幣千元） 88,186 143,873 毛利（人民幣千元） 38,487 65,270 毛利率(%) 43.6% 45.4% 年內淨虧損（人民幣千元） (43,550) (43,894) 每股虧損 －基本及攤薄（人民幣分） (2.88) (2.96) ...

Financial Performance - The company's revenue for the six months ended June 30, 2022, decreased by 36.8% to RMB 429.43 million, compared to RMB 678.74 million for the same period in 2021[12]. - The company recorded a net loss of RMB 183 million during the interim period[12]. - Gross profit margin decreased from 49.4% to 44.7%, attributed to rising raw material costs[29]. - Other income decreased by 48.4% to RMB 1.6 million, primarily due to a reduction in licensing fee income from associates[31]. - Net loss for the period was RMB 18.3 million, with a net loss margin of 42.7%, compared to a net loss of RMB 16.2 million and a margin of 23.8% in the prior period[41]. - Operating loss for the six months was RMB 17,174,000, slightly higher than the operating loss of RMB 17,035,000 in the previous year[64]. - The company reported a basic loss per share of RMB 1.21 for the six months ended June 30, 2022, compared to RMB 1.12 for the same period in 2021, indicating a worsening of approximately 8.0%[121]. - The company incurred a total comprehensive loss of RMB (18,294) thousand for the six months ended June 30, 2022, compared to a loss of RMB (16,225) thousand for the same period in 2021[81]. Revenue Breakdown - The main product category, radiant cookers, accounted for over 75.6% of total revenue during the interim period, generating RMB 324.52 million[17]. - The revenue from television platform sales was RMB 187.31 million, accounting for 43.6% of total revenue[21]. - Online platform sales contributed RMB 84.64 million, representing 19.7% of total revenue, down from 23.9% in the previous year[21]. - The total revenue from other small kitchen appliances and cabinets was RMB 57.21 million, representing 13.3% of total revenue[17]. - Sales revenue from company customers increased by 53.8% to RMB 20 million during the six months ended June 30, 2022, compared to RMB 13 million for the same period in 2021[23]. Operational Challenges - The direct sales revenue from consignment stores dropped by 49.1% to RMB 110.58 million, primarily due to government-imposed lockdown measures[22]. - The company has fully resumed operations after a 2.5-month suspension due to COVID-19 lockdowns in Shanghai[12]. - Direct sales revenue from the television platform decreased by 23.7% to RMB 18.7 million, primarily due to adverse effects from government-imposed quarantine measures[26]. - Sales revenue from online platforms operated by distributors fell by 47.5% to RMB 8.5 million, also impacted by quarantine measures[27]. - Revenue from physical sales locations decreased by 34.1% to RMB 2.7 million, mainly due to temporary closures and reduced operating hours[28]. Cost Management - Administrative expenses increased by 28.3% to RMB 12.7 million, mainly due to higher employee benefits and legal fees[34]. - Research and development expenses decreased by 17.6% to RMB 4.2 million, due to cost control measures implemented by the company[35]. - The cost of materials used decreased to RMB 21,530,000 in the six months ended June 30, 2022, down from RMB 33,231,000 in the same period of 2021, representing a reduction of approximately 35.4%[8]. - Employee benefits expenses, including directors' remuneration, amounted to RMB 13,107,000, a decrease of 9.6% from RMB 14,500,000 in the previous year[8]. Asset and Liability Management - Total assets decreased from RMB 190,723 thousand as of December 31, 2021, to RMB 163,783 thousand as of June 30, 2022, representing a decline of approximately 14.2%[71]. - Non-current assets decreased from RMB 39,879 thousand to RMB 28,271 thousand, a reduction of about 29.3%[71]. - Current assets decreased from RMB 145,097 thousand to RMB 135,512 thousand, a decline of approximately 6.6%[71]. - The company’s total liabilities decreased from RMB 66,575 thousand to RMB 57,929 thousand, a reduction of about 13.0%[73]. - Trade receivables decreased significantly from RMB 31,489 thousand to RMB 18,666 thousand, a decline of approximately 40.7%[71]. Shareholder Value and Future Plans - The company plans to cautiously pursue business development and seek opportunities for diversification to create value for shareholders[13]. - The group did not engage in any significant acquisitions or disposals during the reporting period[52]. - There were no major investments or future capital asset plans disclosed for the reporting period[54]. - The company did not declare any dividends for the six months ended June 30, 2022, and June 30, 2021[161]. Governance and Management - The company has adopted a set of corporate governance practices that comply with the requirements of the Corporate Governance Code, except for the provision C.2.1, which states that the roles of Chairman and CEO should be separate[187]. - The Chairman and CEO roles are currently held by the same individual, Ms. Ji, who is believed to provide strong and consistent leadership, enhancing decision-making and strategy implementation[187]. - The company has not made any significant changes to its risk management policies since December 31, 2021[101]. - The company continues to evaluate the financial impact of new accounting standards and amendments that are yet to be adopted, with no major changes anticipated[98].

Financial Performance - The company's revenue for the year 2021 decreased by 24.0% to RMB 143.9 million, down from RMB 189.4 million in 2020[13] - The gross profit for 2021 was RMB 65.3 million, compared to RMB 95.0 million in 2020, reflecting a significant decline[7] - The net loss for the year increased to RMB 43.9 million from RMB 20.0 million in the previous year, primarily due to decreased sales revenue from the television platform[13] - Total assets as of December 31, 2021, were RMB 190.7 million, a decrease from RMB 246.3 million in 2020[8] - The company's total liabilities decreased to RMB 66.6 million in 2021 from RMB 73.4 million in 2020[8] - The net loss for the year was RMB 43.9 million, compared to a net loss of RMB 19.95 million in 2020, indicating a significant increase in losses[17] - Gross profit margin decreased to 45.4% from 50.2% in the previous year, attributed to rising raw material prices[44] - Other income decreased by 11.1% to RMB 4.8 million from RMB 5.4 million in the previous year, mainly due to a reduction in government subsidies[45] - Net loss increased to RMB 43.9 million from RMB 20.0 million in the previous year, with a net loss margin rising to 30.5% from 10.5%[57] - Administrative expenses increased by 33.5% to RMB 27.1 million from RMB 20.3 million in the previous year, primarily due to higher employee benefits and donations[50] Sales and Revenue Channels - The company expanded both offline and online sales channels, resulting in higher sales revenue from distributors and physical sales locations compared to 2020[14] - The main product category, radiant cookers, accounted for 79.3% of total revenue, generating RMB 114.0 million in 2021[29] - Sales through agency stores increased by 17.7% to RMB 34.6 million, driven by the recovery of business operations post-lockdown[37] - Online platform sales accounted for 24.1% of total revenue, increasing from 13.6% in the previous year[36] - Sales revenue from online platforms increased by 34.5% to RMB 34.7 million from RMB 25.8 million in the previous year, driven by improved global economic conditions and increased consumer spending[42] - Sales revenue from physical sales locations rose by 71.2% to RMB 17.8 million from RMB 10.4 million in the previous year, as business operations normalized after the relaxation of quarantine measures[43] - Direct sales revenue from the television platform dropped by 54.9% to RMB 54.9 million from RMB 121.6 million in the previous year[39] - The group reported a significant decline in sales from television platforms, which dropped to RMB 54.9 million, down from RMB 121.6 million in 2020[36] Strategic Initiatives and Future Outlook - The company is focusing on digital technology integration in its products to improve consumer quality of life[13] - The group plans to optimize its distribution network by allocating more resources to high-potential sales channels such as Douyin and WeChat[26] - The group aims to diversify product styles and functions to better meet customer needs and enhance brand awareness[18] - The group will explore expanding sales into other geographic regions to provide attractive returns for shareholders[18] - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[86] - The company is investing in R&D for new technologies, with a budget allocation of $5 million for the upcoming year[86] - Market expansion plans include entering three new international markets by the end of 2022, aiming for a 10% market share in each[86] - A new product line is set to launch in Q3 2022, expected to contribute an additional $2 million in revenue[86] - The management team has outlined a cost reduction strategy aiming for a 5% decrease in operational expenses over the next year[86] - The company has established partnerships with key industry players to enhance distribution channels and improve market penetration[86] Corporate Governance - The company emphasized its commitment to corporate governance, aiming to enhance transparency and accountability[107] - The board of directors includes experienced professionals with extensive backgrounds in finance and management, ensuring strong governance[88] - The board is responsible for developing and maintaining effective corporate governance practices, continuously reviewing and improving governance protocols in response to changing business environments and regulatory requirements[155] - The company has adopted a dividend policy prioritizing cash distributions to shareholders, with decisions based on financial performance, operational needs, liquidity, and other relevant factors[168] - The board emphasizes the importance of risk management and internal controls, ensuring effective systems are in place to manage operational risks and achieve business objectives[170] - The company has established various communication methods to keep shareholders informed, including annual and special meetings, reports, and announcements available on the company website[161] - The company has implemented procedures for identifying, assessing, and managing risks that may impact its operations, ensuring ongoing evaluation of potential risks[173] - The company has appointed an external service provider as the company secretary to support the board and ensure effective communication among board members[160] Environmental, Social, and Governance (ESG) Initiatives - The group emphasizes the importance of stakeholder communication to identify significant environmental, social, and governance issues[189] - The group has established key performance indicators to assess the effectiveness of its environmental, social, and governance policies[188] - The group aims to enhance its environmental, social, and governance performance through appropriate strategies and regular reviews[188] - The group is committed to compliance with laws and regulations, ensuring timely tax payments[191] - The management team is responsible for collecting and analyzing environmental, social, and governance data and reporting significant matters to the board[188] - The group prioritizes stakeholder engagement to gather relevant opinions on environmental, social, and governance matters[189] - The group recognizes the potential impact of environmental, social, and operational issues on its financial condition and operating performance[195] - High importance issues include greenhouse gas emissions, energy consumption, waste management, and compliance with environmental regulations[198] - The company aims to implement appropriate strategies to monitor and address identified issues for sustainable business development[198]

Miji International Holdings Limited 米技國際控股有限公司 (於開曼群島註冊成立的有限公司) Miji Design Germany ११५५; Mill Cos 240 & & �� CCCCCCCCCC D O C C C C G B B 米技 樂在廚房 中期報告 2021 目錄 目錄 公司資料 2 業務回顧及未來前景 3 管理層討論及分析 4 中期財務資料審閱報告 11 簡明綜合中期全面收益表 12 簡明綜合中期財務狀況表 14 簡明綜合中期權益變動表 16 簡明綜合中期現金流量表 17 簡明綜合中期財務資料附註 18 其他資料 35 01 米技國際控股有限公司 二零二一年中期報告 公司資料 公司資料 | --- | --- | |----------------------------------------------------------------------|----------------------------------------------------------------------------| | | | | 董事會 | 開曼群島註冊辦事處 ...