Financial Performance - The group's revenue from continuing operations for the six months ended June 30, 2024, was approximately RMB 148.0 million, a decrease of about 12.8% compared to RMB 169.7 million for the same period in 2023[2]. - The gross profit from continuing operations for the same period was approximately RMB 15.8 million, an increase of about 23.3% from RMB 12.8 million in the previous year[2]. - The loss attributable to equity holders of the company from continuing and discontinued operations decreased from RMB 87.3 million in 2023 to approximately RMB 71.6 million in the current period[2]. - The basic and diluted loss per share attributable to equity holders from continuing operations for the period was RMB 21.44 cents[2]. - The company recorded a net loss of RMB 86.4 million for the period, compared to a net loss of RMB 87.3 million in the same period last year[5]. - The company reported a significant increase in revenue from India, rising to RMB 12,522 thousand from RMB 8,997 thousand year-over-year[23]. - Revenue from continuous operations for the six months ended June 30, 2024, was RMB 148,038 thousand, a decrease of approximately 12.8% compared to RMB 169,680 thousand for the same period in 2023[50]. - Revenue from PCBAs decreased by approximately 13.4% to RMB 113,067 thousand from RMB 130,618 thousand in the same period of 2023[51][52]. - Revenue from fully assembled electronic products decreased by approximately 10.5% to RMB 34,971 thousand from RMB 39,062 thousand in the same period of 2023[51][53]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 1,117.3 million, a decrease from RMB 1,154.9 million as of December 31, 2023[6]. - The total equity attributable to equity holders of the company was RMB 206.4 million, compared to RMB 203.4 million at the end of 2023[6]. - Cash and cash equivalents decreased to RMB 31.4 million from RMB 70.2 million at the end of the previous year[6]. - Non-current liabilities decreased from RMB 215,087 thousand as of December 31, 2023, to RMB 183,181 thousand as of June 30, 2024, representing a reduction of approximately 14.8%[7]. - Current liabilities decreased from RMB 736,419 thousand as of December 31, 2023, to RMB 672,964 thousand as of June 30, 2024, indicating a decline of about 8.6%[7]. - Total liabilities decreased from RMB 951,506 thousand as of December 31, 2023, to RMB 910,938 thousand as of June 30, 2024, reflecting a decrease of approximately 4.3%[7]. - The total equity and liabilities amounted to RMB 1,117,342 thousand as of June 30, 2024, compared to RMB 1,154,883 thousand as of December 31, 2023, showing a decrease of about 3.2%[7]. - Trade receivables as of June 30, 2024, amount to RMB 95,140 thousand, down from RMB 159,231 thousand as of December 31, 2023, indicating a decrease of about 40.3%[38]. - Trade payables as of June 30, 2024, are reported at RMB 66,574 thousand, a decrease from RMB 85,153 thousand as of December 31, 2023, which is a decline of about 21.8%[41]. Financing and Investments - The company has secured a commitment for an unsecured revolving loan of up to HKD 500 million (approximately RMB 465.4 million) from its chairman, effective until April 1, 2025[10]. - The company raised approximately HKD 45 million (net) from a subscription agreement completed on May 17, 2024, intended for general working capital[10]. - A second subscription agreement completed on June 26, 2024, raised approximately HKD 31.8 million (net) for general working capital[10]. - The company has drawn a total of approximately RMB 187.6 million from a financing agreement with Vision International Group Limited as of June 30, 2024[10]. - The company invested RMB 26,152 thousand in non-current assets during the first half of 2024, compared to RMB 95,790 thousand in the same period of 2023[19]. - The company completed a share subscription agreement on May 2, 2024, issuing 30,000,000 new shares at a subscription price of HKD 1.51 per share, representing a discount of approximately 19.68% from the market price on that date[75]. - The net proceeds from the May subscription amounted to approximately HKD 45 million, intended for general working capital[75]. - A second share subscription agreement was established on June 14, 2024, for 31,800,000 new shares at a subscription price of HKD 1.01 per share, reflecting a discount of about 14.41% from the market price[76]. Operational Highlights - The company is currently focusing on the construction of an advanced manufacturing center in Hong Kong, which is expected to enhance its operational capabilities[37]. - The company aims to enhance its market competitiveness by increasing investment in new technology and product research and development[49]. - The company is focusing on expanding its aerospace business in the Middle East and establishing relationships with various strategic partners in the region[48]. - The company has successfully tested various satellite manufacturing and testing equipment, which have now been successfully put into production[47]. - The company successfully launched six low-cost commercial optical satellites in July 2024, with resolutions ranging from 5 meters to 0.5 meters, priced between USD 35,000 and USD 990,000[49]. Governance and Compliance - The company has adopted and complied with the corporate governance code as per the listing rules, with the exception of the separation of roles between the Chairman and CEO, which is currently held by the same individual[81]. - The Audit Committee, established on July 25, 2018, consists of three independent non-executive directors and has reviewed the interim financial statements for the six months ending June 30, 2024[82]. - The company did not engage in any purchase, sale, or redemption of its listed securities during the review period[83].

Financial Performance - The company recorded a revenue of approximately RMB 593.5 million for the reporting period, a decrease of about 6.6% compared to the same period in 2022[10]. - The net loss attributable to equity holders was approximately RMB 211.1 million, compared to a loss of RMB 154.3 million in 2022[10]. - The increase in losses was primarily due to higher depreciation expenses related to the right-of-use assets and increased employee benefits expenses due to a rise in headcount[10]. - The company's revenue for 2023 was approximately RMB 593.5 million, a decrease of 6.6% from RMB 635.4 million in 2022[17]. - Revenue from PCBAs decreased by 15.8% to approximately RMB 416.8 million, accounting for 70.2% of total revenue[18][20]. - Revenue from fully assembled electronic products increased by 25.9% to approximately RMB 176.7 million, representing 29.8% of total revenue[21]. - Gross profit for the period was approximately RMB 64.7 million, an increase of 148.5% from RMB 26.0 million in 2022, with a gross margin rising to 10.9%[22][23]. - The gross profit from PCBAs increased by 104.7% to approximately RMB 51.9 million, with a gross margin of 12.5%[24]. - The gross profit from fully assembled electronic products surged by 1,751.7% to approximately RMB 12.8 million, with a gross margin of 7.3%[26]. - Other income for the period was approximately RMB 6.7 million, primarily from government subsidies and rental income[27]. - Selling and distribution expenses were approximately RMB 21.4 million, maintaining a ratio of about 3.6% to revenue[29]. - General and administrative expenses for the reporting period were approximately RMB 250.2 million, an increase of about 74.6% compared to RMB 143.3 million in 2022[30]. - Impairment losses on financial assets amounted to approximately RMB 6.3 million, up from RMB 1.7 million in 2022[31]. - Net financing costs for the reporting period were approximately RMB 19.2 million, a 58.7% increase from RMB 12.1 million in 2022[32]. - The income tax credit for the reporting period was approximately RMB 3.9 million, compared to an income tax expense of RMB 1.3 million in 2022[33]. - Current liabilities net value as of December 31, 2023, was approximately RMB 339.3 million, a decrease from RMB 71.7 million in 2022[36]. - Capital expenditures for the reporting period were approximately RMB 154.2 million, down from RMB 384.5 million in 2022[42]. - The company had unutilized bank financing of approximately RMB 125.1 million as of December 31, 2023, compared to RMB 8.3 million in 2022[38]. - The capital debt ratio increased to approximately 121.4% as of December 31, 2023, from 101.5% in 2022[39]. Business Strategy and Expansion - The company plans to expand its aerospace business into international markets to reduce reliance on specific regions and mitigate risks from trade tensions and geopolitical issues[11]. - The company aims to enhance collaboration with suppliers and partners to access more resources and support for its aerospace and EMS businesses[11]. - Investment in new technologies and product development will be prioritized to meet the evolving market demands[11]. - Cost control measures will be implemented to optimize the supply chain and improve overall production efficiency, thereby reducing foreign currency debt costs[11]. - The company is optimistic about future opportunities in the aerospace industry, particularly in the Middle East, with plans to expand operations in Abu Dhabi[12][13]. - The company aims to enhance its competitiveness through advanced manufacturing facilities and increased R&D investment[12]. - The company has entered into a non-binding term sheet with Abu Dhabi Ports Company PJSC to establish a global aerospace innovation and space trade center[49]. - Aspace Satellite Technology Manufacturing Company will maintain an 85:15 ownership ratio with investors in the joint venture Aspace Saudi[50]. - The joint venture with Aspace Saudi is part of the company's participation in Saudi Vision 2030, aimed at promoting economic and cultural development in Saudi Arabia[50]. - The company plans to establish an international leading satellite control system in Brazil, Egypt, Malaysia, Nigeria, Saudi Arabia, Turkey, and the UAE to ensure global service continuity and reliability[171]. Corporate Governance and Board Structure - The company has adopted and complied with the corporate governance code as per the listing rules, with the exception of the separation of roles between the Chairman and the CEO, which are currently held by the same individual[94]. - The board consists of 17 members, including 6 executive directors, 5 non-executive directors, and 6 independent non-executive directors, ensuring compliance with the listing rules regarding independent directors[97][99]. - The board is responsible for leading, guiding, supervising, and controlling the company's affairs to achieve long-term success and create value while managing business risks[100]. - The company has arranged appropriate directors' and officers' liability insurance, which is reviewed annually to ensure adequate coverage[102]. - The independent auditor's report regarding the financial statements is included in the annual report, ensuring transparency and accountability[105]. - The board of directors is responsible for corporate governance and continuously reviews the company's governance practices and policies[106]. - The chairman and CEO, Mr. Wen, provides consistent leadership and effective decision-making for the group[108]. - Independent non-executive directors possess extensive expertise in accounting, technology, finance, and corporate governance, ensuring independent perspectives in board discussions[109]. - The board held four regular meetings during the reporting period, with all directors receiving adequate notice at least 14 days in advance[112]. - Attendance records for board meetings indicate full participation from executive directors, with Mr. Wen attending 4 out of 4 meetings[114]. - The company received annual confirmations of independence from all independent non-executive directors during the reporting period[110]. - The board maintains strict compliance with financial and other mandatory reporting requirements, ensuring the protection of the company's and shareholders' interests[109]. - A meeting was held between the chairman and independent non-executive directors without the presence of other directors during the reporting period[115]. - The company emphasizes the importance of ongoing professional development for directors to enhance governance practices[107]. - The board's decision-making process is influenced by the valuable opinions of independent non-executive directors, ensuring a balanced approach[109]. - The company has adopted a board diversity policy to enhance efficiency and corporate governance, currently including three female directors[120]. - The audit committee consists of three independent non-executive directors, ensuring compliance with corporate governance standards[124]. - The company has established a nomination committee to review and monitor the implementation of the board diversity policy annually[121]. Sustainability and ESG Initiatives - The company emphasizes sustainable development, integrating ESG principles into its business operations and establishing a dedicated ESG working group[185]. - The company has committed to following the United Nations Sustainable Development Goals (SDGs) and ESG reporting guidelines to ensure transparency and accuracy in its sustainability reporting[157]. - The report covers the company's significant impacts and stakeholder concerns regarding sustainability from January 1, 2023, to December 31, 2023[155]. - The company will regularly review the scope of its reports to ensure it encompasses the overall business portfolio's significant impacts[155]. - The company emphasizes its commitment to the United Nations Sustainable Development Goals (SDGs) across five key areas, including product responsibility and environmental responsibility[190]. - The company has identified 16 significant ESG-related issues based on its business development and industry characteristics, with a focus on product innovation and satellite monitoring capabilities[196]. - The company plans to enhance its product innovation capabilities and improve satellite monitoring solutions to provide high-quality solutions[192]. - The company is focused on energy consumption reduction and greenhouse gas emissions management as part of its green development strategy[192]. - The company is dedicated to community investment and enhancing intellectual property protection as part of its social responsibility initiatives[192]. - The company is actively engaging stakeholders through various channels, including shareholder meetings and social announcements, to improve its sustainable development performance[193]. Management and Leadership - The management team includes experienced executives with over 30 years in business management and finance[55][56]. - Dr. Lin has held various non-executive director positions in multiple companies, including Xin Hua Hui Fu Financial Holdings Limited and China Natural Gas Group Limited, until February 2024[61]. - Ms. Gu has been an executive director and vice-chairman since July 2021, with extensive experience in finance and public service, including serving as the chair of the Financial Action Task Force (FATF) from 2001 to 2002[62]. - Mr. Al-Maktoum was appointed as an executive director in November 2023, bringing experience from various sectors including technology and healthcare[64]. - Dr. Fawata has been appointed as an executive director in November 2023, with a background in astrophysics and over 150 published papers[65]. - Mr. Ma has over 18 years of experience in electronic engineering and has served as an executive director since February 2018[66]. - Mr. Alanezi was appointed as a non-executive director in November 2023, with over 27 years of experience in investment and financial services across the MENA region[69]. - Professor Feichtinger has been appointed as a non-executive director in November 2023, with a focus on aerospace technology development and international cooperation[70]. - The company is actively expanding its board with experienced professionals in space and technology sectors to enhance strategic decision-making[76]. - The board includes members with diverse backgrounds in space exploration, remote sensing, and international collaboration, strengthening the company's expertise[76]. Shareholder Communication and Engagement - The company emphasizes effective communication with investors to enhance relationships and provide updates on business operations and strategies through various channels, including its website[148]. - The board believes that the arrangements for shareholder communication during the reporting period were effective[148]. - The company maintains multiple communication channels for investors to ensure they receive timely updates and can provide feedback[184]. - The company will compensate reasonable expenses incurred by shareholders if the board fails to convene a special meeting within the stipulated time frame[143]. - The company published 10 documents on the stock exchange website, reflecting its operational dynamics and commitment to timely information disclosure[184].

Financial Performance - The company's revenue for the year ended December 31, 2023, was RMB 593,508,000, a decrease of 6.6% compared to RMB 635,432,000 in 2022[57]. - The group's revenue for the reporting period was approximately RMB 593.5 million, a decrease of about 6.6% compared to RMB 635.4 million in the same period of 2022[74]. - Gross profit increased significantly to RMB 64,709,000 from RMB 26,042,000, marking a gross margin improvement[57]. - The loss attributable to equity holders for the reporting period increased from approximately RMB 154.3 million in 2022 to approximately RMB 211.1 million[74]. - The operating loss for the year was RMB 207,441,000, compared to a loss of RMB 140,842,000 in the previous year, indicating a worsening operational performance[57]. - The net loss attributable to equity holders of the company was RMB 211,141,000, compared to RMB 154,290,000 in 2022, reflecting a 37% increase in losses[57]. - The total assets of the company decreased to RMB 1,154,883,000 from RMB 1,227,351,000, indicating a decline in asset value[61]. - The total equity attributable to equity holders decreased from RMB 245.9 million to RMB 203.4 million[80]. - The group recorded a net loss of RMB 222.8 million and a net cash outflow from operating activities of RMB 132.9 million as of December 31, 2023[85]. - The basic and diluted loss per share attributable to equity holders for the reporting period was RMB 68.19 cents[74]. Expenditure and Investment - The group recorded a capital expenditure of approximately RMB 154.2 million during the reporting period, a decrease from RMB 384.5 million in 2022, mainly related to the construction of the Hong Kong Satellite Manufacturing Center and the Hong Kong Satellite Operations Control and Application Center[28]. - The group has capital expenditure commitments of approximately RMB 196.2 million expected to be payable within the next twelve months[70]. - The company invested RMB 182,643 thousand in non-current segment assets during the year, reflecting a strategic focus on expanding its operational capabilities[125]. Business Strategy and Expansion - The board remains optimistic about the future prospects of the aerospace business, which is expected to be a major trend in the coming decades[4]. - The group plans to actively expand its aerospace business into international markets to reduce reliance on specific regions and mitigate the impact of trade tensions, currency fluctuations, and geopolitical risks[3]. - The group has entered into a non-binding term sheet with Abu Dhabi Ports Company PJSC to establish an international aerospace technology innovation and space trade center in Abu Dhabi[31]. - The company plans to strengthen collaboration with suppliers and partners to acquire more resources and support for its aerospace and EMS businesses[180]. - The company anticipates significant business opportunities in the aerospace sector, particularly in the Middle East region, with plans to expand operations in Abu Dhabi[181]. Financial Liabilities and Liquidity - The group is closely monitoring its liquidity position to ensure sufficient cash and bank financing levels to meet its funding needs[17]. - The group's current liabilities exceeded its current assets by RMB 339.3 million, with cash and cash equivalents amounting to RMB 70.2 million[85]. - The group has outstanding loans amounting to approximately RMB 91.1 million as of December 31, 2023, with repayment dates extended to March 2025[89]. - The group has received a commitment letter from its chairman for an unsecured interest-free revolving loan of up to HKD 500 million (approximately RMB 454.5 million) valid until April 1, 2025[71]. - The group is in discussions with existing lenders for the renewal of current borrowings and with several potential lenders for new loans[115]. Operational Challenges - The company reported a significant increase in general and administrative expenses, rising to RMB 250,237,000 from RMB 143,280,000, which impacted overall profitability[57]. - The group has incurred rental arrears of RMB 13.3 million for the period from January to March 2024, which may significantly impact its aerospace business establishment plans[86]. - The group has not engaged in any significant acquisitions or disposals during the reporting period, focusing on internal operations and strategic partnerships[46]. - The company experienced a foreign exchange loss of RMB 5,214 thousand in 2023, compared to a loss of RMB 4,673 thousand in 2022[187]. Accounting and Compliance - The group has implemented new accounting standards effective from January 1, 2023, which did not have a significant impact on its accounting policies[98]. - The group is evaluating the impact of revised standards and interpretations, with preliminary conclusions indicating no significant effect on its operational performance or financial position[100]. - The company plans to adopt revised accounting standards effective January 1, 2024, which may impact future financial reporting[122].

Financial Performance - The company's revenue for the six months ended June 30, 2023, was approximately RMB 236.4 million, a decrease of about 27.1% compared to RMB 324.5 million for the same period in 2022[71]. - The group's gross profit for the review period was approximately RMB 17.3 million, a decrease of about 44.4% compared to RMB 31.1 million in the same period of 2022[28]. - The company recorded a loss attributable to equity holders of approximately RMB 87.3 million, an increase from RMB 46.6 million in the same period of 2022[71]. - The overall gross margin decreased from 9.6% in the same period of 2022 to 7.3% in the review period[76]. - The company reported a total comprehensive loss of RMB 41,103 thousand for the six months ended June 30, 2023, compared to a loss of RMB 46,615 thousand in the same period of 2022[140]. Expenses and Costs - Administrative expenses for the review period were approximately RMB 87.8 million, an increase of about 40.0% from RMB 62.7 million in the same period of 2022[16]. - The net financing cost for the review period was approximately RMB 10.6 million, up from RMB 0.8 million in the same period of 2022, primarily due to increased interest expenses related to lease liabilities[17]. - Sales and distribution expenses for the period were approximately RMB 8.7 million, a decrease of about 6.5% from RMB 9.3 million in the same period last year[39]. - The company's financing costs increased significantly to RMB 10,757,000 from RMB 1,403,000, reflecting a rise of about 666.5%[128]. Assets and Liabilities - The company's equity attributable to shareholders decreased to RMB 159,442 thousand as of June 30, 2023, down from RMB 245,882 thousand at the end of 2022, reflecting a decline of about 35%[139]. - The group's net current liabilities as of June 30, 2023, were approximately RMB 361 million, compared to about RMB 71.7 million as of December 31, 2022[107]. - Total liabilities decreased to RMB 949,014 thousand as of June 30, 2023, compared to RMB 981,469 thousand at the end of 2022, showing a reduction of approximately 3.3%[134]. - The company's cash and cash equivalents decreased significantly to RMB 38,989 thousand as of June 30, 2023, from RMB 41,471 thousand at the end of 2022, a decline of approximately 7.1%[133]. Revenue Breakdown - Revenue from PCBAs (Printed Circuit Board Assemblies) increased by approximately 25.5% to about RMB 197.3 million, driven by a recovery in demand from the banking and financial sectors[75]. - Revenue from the sale of fully assembled electronic products decreased by approximately 76.6% to about RMB 39.1 million, primarily due to a significant reduction in demand from mobile phone and tablet manufacturers[101]. - The group’s segment for EMS business in smart home devices reported revenue of RMB 65,294 thousand for the six months ended June 30, 2023, down from RMB 91,918 thousand in the same period of 2022, a decrease of about 29.1%[189]. - Revenue from the Chinese market for the six months ended June 30, 2023, was RMB 203,170 thousand, down 15.0% from RMB 238,690 thousand in the prior year[199]. Strategic Initiatives - The group aims to expand and develop its satellite manufacturing and launch business as part of its long-term growth strategy[31]. - The group plans to continue enhancing its research and development capabilities to uncover more business opportunities[11]. - The company is actively pursuing new strategies, including potential mergers and acquisitions, to strengthen its competitive position in the market[198]. - The board remains optimistic about the aerospace business outlook despite challenges, citing strong global demand for commercial satellites[10]. Financing and Investments - The group is exploring financing opportunities to increase its liquidity[33]. - The company has entered into a subscription agreement with Macquarie Bank for the issuance of convertible bonds amounting to HKD 800 million (approximately USD 102.6 million) with a coupon rate of 0.5%, maturing on December 31, 2023[149]. - The company has agreed to sell a 49% stake in its subsidiary, Aerospace Satellite Technology Limited, for USD 20.5 million (approximately HKD 159.9 million), with the transaction expected to complete by September 11, 2023[149]. - The company is in discussions with independent third parties regarding new borrowings and potential investors for raising new funds through the issuance of new equity and/or debt securities[149]. Employee and Management Compensation - The company had approximately 956 employees as of June 30, 2023, with total employee compensation of about RMB 73.4 million, down from RMB 75.3 million in the previous year[46]. - The total remuneration for key management personnel, including directors, amounted to RMB 9,535,000 for the six months ended June 30, 2023, compared to RMB 7,438,000 for the same period in 2022[165].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生 或因倚賴該等內容而引致的任何損失承擔任何責任。 Hong Kong Aerospace Technology Group Limited 香 港 航 天 科 技 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1725） 截 至2023年6月30日 止 六 個 月 之 未 經 審 核 中 期 業 績 公 告 未經審核中期業績 香港航天科技集團有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至2023年6月30日 止 六 個 月（「回 顧 期」）的 未 經 審核中期業績及截至2022年6月30日止六個月的比較數字。 財務摘要 • 本 集 團 回 顧 期 的 收 益 約 為 人 民 幣236.4百 萬 元，較2022年 同 期 約 人 民 幣 324.5百萬元減少約27.1%。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等 內容而引致的任何損失承擔任何責任。 Hong Kong Aerospace Technology Group Limited 香 港 航 天 科 技 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1725） 有關截至2022年12月31日止年度的年報的 補充公告 茲提述(i)香港航天科技集團有限公司（「本公司」）日期分別為2021年10月29日（「該 公告」）及2021年11月9日的公告，內容有關認購（「認購事項」）本公司新股份；(ii) 本公司截至2021年12月31日止年度的年報；(iii)截至2022年6月30日止六個月的中 期報告；及(iv)截至2022年12月31日止年度的年報（「2022年報」）。 於2021年10月29日，本公司與馬興富先生（「認購人」，一位個人投資者）訂立認購 協議（「認購協議」），據此，本公司有條件同意配發及發行，而認購人有條件同意 以每股股份26.41港元的認購價認購9,000,0 ...

Economic Environment - The company reported a challenging economic environment during the reporting period, impacted by rising global inflation, the Ukraine war, and economic slowdowns in China due to COVID-19 restrictions[31]. Revenue and Financial Performance - The total revenue for the year was RMB 635,432 thousand, with significant contributions from various regions including China (RMB 465,866 thousand) and the USA (RMB 20,441 thousand)[22]. - The company recorded a revenue of approximately RMB 635 million, a slight decrease of about 2.3% compared to the same period in 2021[45]. - Revenue from the sale of PCBAs increased by approximately 49.2% to RMB 495 million, up from RMB 331.8 million in the previous year, driven by increased demand for home appliances and smart home devices during the pandemic[51]. - Revenue from the sale of fully assembled electronic products decreased by approximately 55.9% to RMB 140.4 million, down from RMB 318.4 million, mainly due to a lack of new product releases from mobile phone and tablet manufacturers[51]. - The loss attributable to equity holders was approximately RMB 154 million, compared to RMB 53 million in the same period of 2021, primarily due to significant increases in administrative expenses from rapid expansion in the aerospace business[45]. - The group's gross profit for the reporting period was approximately RMB 26.0 million, a decrease of about RMB 11.1 million or 29.8% from RMB 37.1 million in 2021, with the overall gross margin declining from 5.7% to 4.1%[81]. - Other income for the reporting period was approximately RMB 5.1 million, an increase of about 41.2% from RMB 3.4 million in 2021, mainly due to government subsidies[83]. - The loss attributable to equity holders for the reporting period was approximately RMB 154.3 million, compared to RMB 53.1 million in the same period of 2021[89]. Expenses and Costs - The gross profit from PCBAs decreased by approximately 26.5% to RMB 25.4 million, with a gross margin of about 5.1%, down from 10.4% in 2021, primarily due to rising material and transportation costs[61]. - The gross profit from fully assembled electronic products decreased by approximately 73.7% to RMB 0.7 million, with a gross margin of about 0.5%, down from 0.8% in 2021, attributed to competitive pricing for major customers and increased costs[62]. - Sales and distribution expenses increased by approximately 28.7% to RMB 21.3 million, compared to RMB 16.6 million in 2021, with the ratio of sales and distribution expenses to revenue rising from about 2.5% to 3.4%[54]. - Administrative expenses for the reporting period amounted to approximately RMB 143.3 million, a significant increase of about 105.8% compared to RMB 69.6 million in 2021[63]. - Financing costs for the reporting period amounted to approximately RMB 12.1 million, a significant increase of about 1,644.1% from RMB 0.7 million in 2021, mainly due to increased bank borrowings and interest expenses related to leased assets[87]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and confirmed compliance during the reporting period[4]. - The board has reviewed and discussed the effectiveness of the group's corporate governance policies[5]. - The company emphasizes the importance of high corporate governance standards to enhance performance, transparency, and accountability[147]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, ensuring compliance by all directors during the reporting period[148]. - The company is committed to internal controls, adequate disclosures, and accountability to all shareholders[147]. - The board consists of five executive directors and eight non-executive directors, ensuring a balance of skills and experience necessary for effective leadership[167]. - The company has mechanisms in place to ensure independent opinions are effectively communicated to the board, which were reviewed for their implementation and effectiveness during the reporting period[181]. - The company has appointed new independent non-executive directors, enhancing the board's composition and expertise[169][183]. - The company has complied with the corporate governance code, except for the separation of the roles of chairman and CEO, which are currently held by the same individual[177]. Strategic Initiatives - The board remains optimistic about the aerospace business outlook, particularly after the completion of the advanced manufacturing center in Tseung Kwan O, Hong Kong[33]. - The company plans to accelerate the establishment of satellite manufacturing and operation control centers to generate new revenue streams in the aerospace sector[33]. - The company aims to maintain long-term growth in both aerospace and EMS businesses through strategic initiatives[33]. - The company plans to expand its satellite communication business and develop satellite internet communication services to broaden revenue sources and mitigate business risks[47]. - The company aims to strengthen its research and development capabilities to uncover more business opportunities[47]. - The company has invested significantly in expanding its aerospace expert team and business development team, as well as leasing new properties for satellite manufacturing and supply chain facilities[45]. - The company is advancing the construction of the Satellite Manufacturing Center and the Satellite Operation Control and Application Center to meet global commercial satellite demands[199]. Financial Position - The group's current liabilities/net assets as of December 31, 2022, were approximately RMB 71.7 million, compared to RMB 55.6 million in 2021, with the current ratio decreasing from approximately 1.1 to 0.9[66]. - The group's bank and other borrowings as of December 31, 2022, were approximately RMB 249.4 million, up from RMB 202.6 million in 2021, with a weighted average interest rate of 4.33% compared to 6.42% in the previous year[67]. - As of December 31, 2022, the group held unused bank financing of approximately RMB 8.3 million, a decrease from RMB 376.2 million as of December 31, 2021[93]. - The capital debt ratio was approximately 101.5% as of December 31, 2022, compared to 51.7% as of December 31, 2021[93]. - During the reporting period, bank borrowings and other loans increased by approximately RMB 46.8 million, primarily due to financing for the construction of a production facility in Huizhou, Guangdong, and the development of aerospace business[93]. Dividend and Shareholder Returns - The company does not recommend the payment of a final dividend for the year ended December 31, 2022[71].

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之內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不會就本公告之全部或任何部分內容而產 生或倚賴該等內容而引致之任何損失承擔任何責任。 Hong Kong Aerospace Technology Group Limited 香 港 航 天 科 技 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1725） 截 至2022年12月31日 止 年 度 之 年 度 業 績 公 告 香港航天科技集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本 公司及其附屬公司（統稱「本集團」）截至2022年12月31日止年度（「報告期」）的綜 合年度業績，以及截至2021年12月31日止年度的比較數字。 財務摘要 • 本 集 團 報 告 期 的 收 益 約 人 民 幣635.4百 萬 元，較2021年 同 期 的 人 民 幣 650.2百萬元輕微減少約2.3%。 • 本 集 團 報 告 期 的 毛 利 約 人 民 幣26.0百 萬 元，較2021年 同 期 人 民 幣37.1百 萬元減少約29.9%。 ...

Financial Performance - The group's revenue for the six months ended June 30, 2022, was approximately RMB 324.5 million, an increase of about 25.6% compared to RMB 258.4 million for the same period in 2021[8]. - The group's gross profit for the review period was approximately RMB 31.1 million, representing a significant increase of about 116.0% from RMB 14.4 million in the same period of 2021[9]. - The loss attributable to equity holders increased from approximately RMB 4.1 million in 2021 to about RMB 46.6 million in the review period[10]. - The basic and diluted loss per share attributable to equity holders for the review period was RMB 15.086[11]. - The group recorded a revenue of approximately RMB 324.5 million, an increase of about 25.6% compared to the same period in 2021, with a loss attributable to equity holders of approximately RMB 46.6 million, compared to a loss of RMB 4.1 million in the same period of 2021[14]. - The gross profit for the same period was RMB 31,091,000, compared to RMB 14,350,000 in the previous year, indicating a significant increase of approximately 116.7%[78]. - The company reported a loss of RMB 46,615,000 for the six months ended June 30, 2022, compared to a loss of RMB 4,137,000 for the same period in 2021, representing an increase in loss of approximately 1,030%[82]. - The basic and diluted loss per share for the period was RMB 15.086, compared to RMB 1.379 in the previous year, indicating a worsening financial performance[78]. Revenue Breakdown - Revenue from PCBAs increased by approximately 48.7% to RMB 157.3 million, driven by increased demand in the banking and financial sectors as well as smart devices[19]. - Revenue from fully assembled electronic products rose by approximately 9.5% to RMB 167.2 million, primarily due to increased procurement orders for mPOS products from the largest customer[20]. - For the six months ended June 30, 2022, the total segment revenue was RMB 324,464 thousand, with EMS business contributing RMB 91,918 thousand and RMB 232,546 thousand from banking and financial equipment[128]. - Revenue from sales of goods was RMB 250,231 thousand for the six months ended June 30, 2022, up from RMB 230,614 thousand in the previous year, indicating an increase of about 8.5%[134]. - The revenue from the Chinese market reached RMB 238,690 thousand, a significant increase of 32.3% from RMB 180,416 thousand in the prior year[135]. Expenses and Costs - Administrative expenses surged by approximately 299.4% to RMB 62.7 million, mainly due to increased salaries and professional fees related to the aerospace business[27]. - Sales and distribution expenses increased by approximately 40.9% to RMB 9.3 million, attributed to higher employee benefits in the EMS business and increased advertising expenses in the aerospace sector[26]. - The cost of raw materials used increased to RMB 227,988 thousand for the six months ended June 30, 2022, compared to RMB 184,571 thousand in the same period of 2021, reflecting a rise of approximately 23.5%[141]. - The cost of inventory recognized as an expense and included in cost of sales for the six months ended June 30, 2022, was approximately RMB 290,143,000, up from RMB 243,308,000 in 2021, marking an increase of about 19.2%[161]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to RMB 1,212,160,000, up from RMB 941,311,000 as of December 31, 2021, indicating a growth of approximately 29%[86]. - The company's total liabilities increased to RMB 861,720,000 as of June 30, 2022, compared to RMB 549,768,000 at the end of 2021, reflecting a rise of about 57%[86]. - The equity attributable to the company's shareholders decreased to RMB 350,440,000 as of June 30, 2022, down from RMB 391,543,000 at the end of 2021, a decline of approximately 10.5%[86]. - As of June 30, 2022, the net current assets were approximately RMB 32.0 million, down from RMB 55.6 million as of December 31, 2021, with a current ratio of about 1.1 for both periods[33]. - Trade payables decreased significantly to RMB 107,845 thousand as of June 30, 2022, down from RMB 176,118 thousand as of December 31, 2021[172]. Cash Flow and Financing - The net cash used in operating activities for the six months ended June 30, 2022, was RMB (90,656) thousand, compared to RMB (67,136) thousand for the same period in 2021, representing an increase of 34.9%[96]. - The net cash used in investing activities was RMB (94,031) thousand for the six months ended June 30, 2022, compared to RMB (58,467) thousand in the previous year, indicating a significant increase of 60.8%[96]. - The net cash from financing activities increased to RMB 195,770 thousand for the six months ended June 30, 2022, compared to RMB 35,477 thousand in the same period of 2021, reflecting a growth of 438.5%[96]. - The company has unutilized financing of approximately RMB 236 million from two banks as of June 30, 2022, to support manufacturing facility construction contracts[104]. - The company has secured a commitment from its ultimate controlling shareholder for an unsecured and interest-free revolving loan of up to RMB 256 million[104]. Corporate Governance - The company has established an Audit Committee, a Remuneration Committee, and a Nomination Committee to ensure compliance with corporate governance standards[64][66][67]. - The company has appointed new independent non-executive directors as part of its board changes, enhancing governance and oversight[70]. - The company continues to review and monitor its corporate governance practices to ensure adherence to high standards[68]. Strategic Outlook - The group primarily engages in electronic manufacturing services (EMS) and aerospace business, including satellite manufacturing, control, and launch[13]. - The group plans to establish a satellite manufacturing center and a satellite operation control and application center to generate new revenue streams in the aerospace business[15]. - The board remains optimistic about the aerospace business outlook despite challenges posed by ongoing COVID-19 variants and trade tensions between the US and China[14]. - The group aims to continue strengthening its research and development capabilities to uncover more business opportunities[15]. Shareholder Information - As of June 30, 2022, the company’s major shareholder, Hong Kong Aerospace Technology Holdings (BVI), holds 158,213,153 shares, representing 51.20% of the total issued shares[57]. - Vision International Group Limited owns 203,255,353 shares, accounting for 65.78% of the total issued shares[57]. - Mr. Wen Yichuan holds 203,255,353 shares through controlled entities, which is 65.78% of the total issued shares[49]. - Dr. Lin Jiali's spouse has an interest in 4,257,002 shares, representing 1.38% of the total issued shares[52]. - Dr. Ye Zhongxian and his family members hold 2,277,496 shares, which is 0.74% of the total issued shares[52].

Financial Performance - The group reported a revenue of HKD 1.2 billion for the year ended December 31, 2021, representing a year-on-year increase of 15%[13] - The group recorded a revenue of approximately RMB 650.2 million, an increase of about 18.7% compared to RMB 547.8 million in the same period of 2020[16] - The group reported a loss attributable to equity holders of approximately RMB 53.1 million, compared to a profit of approximately RMB 17.3 million in the same period of 2020, primarily due to additional administrative expenses from aerospace operations[16] - The management has provided a revenue guidance of HKD 1.5 billion for the fiscal year 2022, reflecting a growth target of 25%[13] - The overall gross profit was approximately RMB 37.1 million, a decrease of about RMB 12.5 million or 25.2% from RMB 49.6 million in the previous year, with a gross margin decline from 9.1% to 5.7%[27] - The company reported a loss attributable to equity holders of approximately RMB 531 million, compared to a profit of RMB 173 million in the same period of 2020[42] Business Segments - The electronic manufacturing services (EMS) segment contributed approximately 70% of total revenue, while the aerospace business accounted for the remaining 30%[13] - Revenue from the EMS business was divided into two main product categories: PCBA generated RMB 331.8 million (51.0% of total revenue) with a 28.3% increase, while fully assembled electronic products generated RMB 318.4 million (49.0% of total revenue) with a 10.1% increase[23] - The company remains optimistic about the aerospace business outlook for 2022, focusing on the development of the "Golden Bauhinia Constellation" project to provide aerospace data services in the Guangdong-Hong Kong-Macao Greater Bay Area[18] - The group focuses on electronic manufacturing services (EMS) and aerospace business, including PCB assembly and satellite applications[180] Strategic Initiatives - The company is actively developing satellite technology, including smart city satellite big data applications and satellite manufacturing, with a focus on the "Golden Bauhinia Constellation" project[13] - The group plans to expand its market presence in mainland China, particularly in Shenzhen, to leverage the growing demand for aerospace and electronic services[13] - A new product line for advanced satellite communication systems is expected to launch in Q3 2022, aiming to capture a larger share of the aerospace market[13] - The company plans to establish a satellite intelligent manufacturing center and expand its customer base to diversify revenue sources and mitigate business risks[18] - The group is exploring potential mergers and acquisitions to enhance its technological capabilities and market reach[13] Research and Development - The company has invested HKD 100 million in R&D for new technologies in the aerospace sector over the past year[13] - The company will continue to strengthen its research and development capabilities to explore more business opportunities[18] Expenses and Financial Management - Sales and distribution expenses amounted to approximately RMB 166 million, an increase of about 25.3% compared to RMB 132 million in 2020, with the ratio to revenue slightly rising from 2.4% to 2.5%[34] - Administrative expenses reached approximately RMB 696 million, a significant increase of about 203.2% from RMB 230 million in 2020, primarily due to additional salaries and donations related to disaster relief efforts[36] - Financing costs netted approximately RMB 7 million, up about 489.8% from RMB 1 million in 2020, mainly due to increased interest expenses related to lease liabilities[39] - Income tax expenses were approximately RMB 61 million, a 103.7% increase from RMB 30 million in 2020, driven by profit growth in a newly established subsidiary[40] Corporate Governance - The company has adopted and complied with the corporate governance code as per the Stock Exchange Listing Rules, except for the deviation where the roles of Chairman and CEO are held by the same individual[116] - The board consists of five executive directors, two non-executive directors, and five independent non-executive directors, ensuring a balance of skills and experience necessary for effective leadership[123] - The company has conducted annual assessments of the independence of all independent non-executive directors, confirming their independence throughout the year[122] - The company emphasizes the importance of strong corporate governance standards to enhance performance, transparency, and accountability[116] Board Composition and Diversity - The board includes independent non-executive directors from various sectors, ensuring a broad perspective in decision-making[78] - The board currently includes one female director, with plans to increase female representation in future appointments[135] - The board has adopted a diversity policy to enhance the quality of their responsibilities, focusing on skills, experience, and diverse perspectives[135] Environmental, Social, and Governance (ESG) - The board is responsible for overseeing the group's environmental, social, and governance (ESG) performance and assessing related risks and opportunities[194] - The group has established an ESG working group to implement sustainable development initiatives[189] - The group is committed to creating a zero-harm work environment and has implemented measures to ensure employee safety during the COVID-19 pandemic[199] - The environmental, social, and governance report covers the group's performance for the fiscal year from January 1 to December 31, 2021[178] Community Engagement - The company is actively involved in community service and holds significant positions in various industry associations, reflecting its commitment to corporate social responsibility[93][98] - The establishment of a satellite manufacturing center in Hong Kong aims to create more technology jobs for young people[199]