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。 XIANGXING INTERNATIONAL HOLDING LIMITED 1732 二零二二年報之補充公告 茲提述本公司於二零二三年四月十九日刊發之截至二零二二年十二月三十一日止年度之 年報（「二零二二年報」）。除另有說明外，本公告所用詞彙與二零二二年報中所界定者具 有相同涵義。本公告提供有關二零二二年報之補充資料，應與二零二二年報一併閱讀。 有關二零二二年報「管理層討論與分析」一節所披露本公司股份於GEM上市之所得款項淨 額用途，本公司謹此提供以下進一步資料： 自首次更改 第二次更改 所得款項用途至 所得款項用途 二零二一年 二零二一年 二零二二年一月一日至 第二次更改 根據第二次更改 至二零二二年 於二零二二年 首次更改所得款項 十二月三十一日 十二月三十一日及 第二次更改 所得款項用途 所得款項用途 十二月三十一日 十二月三十一日 悉數動用 用途時尚未動用所得 已動用的 二零二二年一月一日 所 ...

Financial Performance - The company's revenue for the year ended December 31, 2022, was approximately RMB 237.27 million, a decrease of 17.8% compared to RMB 288.68 million in 2021[15]. - Gross profit for the same period was approximately RMB 31.97 million, down 33.3% from RMB 47.93 million in the previous year[16]. - Net profit for the year was approximately RMB 10.08 million, a decline of 3.2% from RMB 10.42 million in 2021[16]. - The overall revenue from port logistics services increased by 2.5% due to the growth in port transportation services, despite the decline in overall service volume[23]. - The logistics services segment experienced a revenue increase of 27.2% year-on-year, reaching RMB 51,157,000, driven by a 75.3% increase in import and export agency services volume[24]. - Road transport service revenue decreased by 10.9% year-on-year to RMB 23,089,000, attributed to a decline in container transport volumes due to economic conditions[24]. - The supply chain operations segment saw a significant revenue decline of 56.4% year-on-year, totaling RMB 50,644,000, primarily due to reduced sales in construction materials[26]. - The group reported a net profit of approximately RMB 10,084,000, a decrease from RMB 10,415,000 in the previous year, mainly due to reduced revenue from the construction materials supply chain[31]. Operational Developments - The company's port logistics service volume decreased by 6.8% to 3,794,017 TEUs, while the port transportation service volume increased by 1.5% to 3,837,176 TEUs[19]. - The total throughput of Xiamen Port for the year 2022 was 12.4 million TEUs, representing a growth of 3.2% year-on-year[23]. - The company plans to enhance management and optimize production processes to improve efficiency and better meet market demands[11]. - The company is closely monitoring the recovery of the domestic infrastructure and real estate markets to potentially restart its supply chain operations focused on sand and gravel materials[11]. - The land acquisition for the Xiamen logistics center has made substantial progress and is expected to be implemented in 2023[9]. - The company aims to continue expanding its services while maintaining strong communication with shareholders regarding its latest developments[10]. - The company plans to restart supply chain operations in response to the complex international environment, focusing on the sand and gravel construction materials market[48]. - The company is collaborating with major port operators in Xiamen to stabilize its port service business and expects new terminal operations in Quanzhou and Wuhan in 2023[50]. Human Resources - Employee costs rose to approximately RMB 109,126,000, up from RMB 96,262,000 in the previous year[27]. - The company employed 929 staff members as of December 31, 2022, down from 963 the previous year[38]. - The gender diversity ratio in the workforce as of December 31, 2022, is 7.2% female and 92.8% male, with a target to increase the female employee ratio by 2% over the next three years[64]. - The employee turnover rate for 2022 was 49%, an improvement from 54% in 2021[173]. - The turnover rate for employees aged 30 and below was 75% in 2022, indicating a concentration of turnover in this age group[177]. - Over 80% of full-time employees received an average of 0.5 hours of training, totaling 400 hours, covering topics such as corporate governance, anti-corruption, financial management, and occupational safety[192]. Corporate Governance - The board consists of five members, including two executive directors and three independent non-executive directors, complying with the requirement of having at least one independent director with appropriate professional qualifications[62]. - The board held one annual general meeting and four regular board meetings during the year ending December 31, 2022, with attendance rates of 100% for all directors at board meetings[63]. - The company has adopted and complied with the corporate governance code as per the listing rules, ensuring high standards of corporate governance to protect shareholder interests[57]. - There were no significant violations or regulatory breaches observed by the board during 2022, indicating a well-maintained corporate culture[56]. - The independent non-executive directors confirmed their independence, and the board believes all independent directors meet the independence guidelines[66]. - The board is responsible for overall strategic direction, corporate governance, risk management, and financial reporting, delegating daily operations to management[70]. - The company has established audit, remuneration, and nomination committees, all composed of independent non-executive directors[62]. - The board encourages constructive communication among members and with senior management to ensure transparency and effective decision-making[68]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report highlights the group's commitment to sustainable development and stakeholder engagement[117]. - The group has a dedicated ESG committee responsible for implementing policies and monitoring key performance indicators related to environmental, social, and governance matters[119]. - The company has identified six key environmental, social, and governance risks that are crucial for its sustainable development planning and strategy direction[139]. - The company has implemented measures to reduce waste, including promoting paperless operations to minimize waste generation[150]. - The company is committed to using environmentally friendly cleaning products to reduce harmful substances in wastewater[148]. - The company's greenhouse gas emissions for 2022 were 7,112 tons of CO2 for direct emissions (Scope 1), a decrease of 31.4% from 10,440 tons in 2021[161]. - Indirect emissions (Scope 2) increased to 271 tons of CO2 in 2022 from 116 tons in 2021, representing a 133.6% increase[161]. - The total diesel consumption was 2,694,535 kg in 2022, a slight decrease from 2,792,073 kg in 2021, indicating a focus on reducing fuel usage[161]. Supplier Management - The company is expanding its preferred supplier scope by welcoming qualified, capable, and high-quality suppliers[200]. - The company is implementing a supplier management system to enhance operational standards and regulate supplier management[200]. - The approach to supplier management is characterized by openness and prudence[200]. - The company aims to improve the quality of its supply chain through effective management of material suppliers and logistics service providers[200]. - The focus on supplier quality is intended to elevate the overall operational level of the company[200]. - The company is committed to establishing and executing supplier management policies[200]. - The initiative reflects the company's strategy to strengthen its supply chain resilience[200]. - The supplier management system is part of the company's broader operational improvement strategy[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。 XIANGXING INTERNATIONAL HOLDING LIMITED 象 興 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：1732） 截至二零二二年十二月三十一日止年度的全年業績公告 象興國際控股有限公司（「本公司」）董事會（「董事」）欣然公佈本公司及其附屬公司 （統稱「本集團」）截至二零二二年十二月三十一日止年度之經審核綜合業績，連同 截至二零二一年十二月三十一日止年度的相關比較數字如下： 綜合損益及其他全面收益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 人民幣千元 人民幣千元 收益 3, 4 237,273 288,682 銷售成本 (205,306) (240,754) ...

Financial Performance - The company's revenue for the six months ended June 30, 2022, was approximately RMB 132,174,000, a decrease of about 2.4% compared to RMB 135,442,000 in the same period last year[13] - Gross profit for the same period decreased by approximately 12.5% to about RMB 26,244,000, down from RMB 30,010,000[13] - Net profit for the six months ended June 30, 2022, was approximately RMB 6,655,000, representing a decline of about 49.7% compared to RMB 13,234,000 in the previous year[13] - Operating profit decreased significantly to RMB 10,620 thousand, a decline of 44.8% from RMB 19,257 thousand in the first half of 2021[68] - Basic and diluted earnings per share were RMB 0.66, down from RMB 1.32 in the first half of 2021, indicating a 50% decline[68] - The company's earnings per share for the period showed a positive trend, contributing to the overall increase in equity and retained earnings[73] Revenue Segments - Revenue from port logistics services increased by 3.6% to RMB 69,210,000, driven by growth in major terminal operations[23] - Revenue from logistics services surged by 98.6% to RMB 29,678,000, mainly due to significant increases in heavy container transport and import-export agency services[26] - The import and export agency services generated revenue of RMB 15,920,000, while land container and raw stone transportation services contributed RMB 13,758,000[89] - The segment of port logistics services achieved revenue of RMB 30,470,000, and port container transportation services generated RMB 38,740,000[89] - The building materials and automotive parts trading segment reported revenue of RMB 33,286,000, reflecting a diverse trading business nature[89] Cost and Expenses - Employee costs for the six months ended June 30, 2022, were approximately RMB 49,575,000, an increase from RMB 42,638,000 in the same period last year, with total employees rising to 973[32] - Administrative expenses increased to approximately RMB 15,647,000 from RMB 11,204,000, primarily due to rising employee costs in port services[33] - The company reported a net cash outflow of RMB 5,908 thousand in the first half of 2022, compared to RMB 3,388 thousand in the same period of 2021, highlighting increased cash management challenges[76] - The net cash used in investing activities was RMB (5,194) thousand, a decrease from RMB 38 thousand in the previous year, indicating a shift in investment strategy[76] Current Assets and Liabilities - As of June 30, 2022, the group had net current assets of approximately RMB 123,557,000, an increase from RMB 119,014,000 as of December 31, 2021[39] - Trade receivables increased to RMB 124,918,000 as of June 30, 2022, from RMB 98,960,000 as of December 31, 2021, reflecting a growth of approximately 26.2%[121] - Total trade and notes receivables amounted to RMB 125,418,000 as of June 30, 2022, up from RMB 106,410,000 as of December 31, 2021, indicating an increase of about 17.9%[121] - Trade payables increased to RMB 8,957,000 as of June 30, 2022, compared to RMB 5,663,000 as of December 31, 2021[134] Financial Stability - The group incurred income tax expenses of approximately RMB 3,593,000 for the six months ended June 30, 2022, down from RMB 5,662,000 for the same period in 2021[37] - The total liabilities decreased slightly from RMB 7,257 thousand to RMB 6,056 thousand, indicating improved financial stability[70] - The company’s retained earnings increased to RMB 74,951 thousand as of June 30, 2022, up from RMB 68,382 thousand, reflecting positive operational performance[73] Future Outlook - The company anticipates a marginal slowdown in import and export growth in the second half of 2022 due to international inflation and weakened demand[62] - The ongoing COVID-19 pandemic remains a significant variable affecting China's economic trajectory in the second half of 2022[60] - Cost-saving measures will be prioritized in port and logistics services to adapt to declining market demand[63] Corporate Governance - The company has adopted the principles of the Corporate Governance Code as of June 30, 2022[161] - An audit committee has been established to ensure effective internal controls and risk management[162] - The audit committee reviewed the unaudited interim results for the six months ending June 30, 2022[162] Shareholder Information - As of June 30, 2022, the company has issued 1,000,000,000 shares[151] - Mr. Cheng Youguo holds 562,500,000 shares, representing 56.25% of the company's equity[154] - Ms. Huang Meili, as the spouse of Mr. Cheng, is also considered to hold 562,500,000 shares, equating to 56.25% of the company's equity[155]

Financial Performance - The company's total revenue for the year ended December 31, 2021, was approximately RMB 288,682,000, representing a 46.0% increase compared to RMB 197,773,000 in the previous year[31]. - The gross profit for the same period was approximately RMB 47,928,000, which is a 7.4% increase from RMB 44,608,000 in the prior year[31]. - The net profit for the year decreased by 28.8% to approximately RMB 10,415,000, down from RMB 14,633,000 in the previous year, primarily due to an increase in impairment losses on receivables[31]. - The overall performance of the company was positively impacted by the stable income from port transportation and handling services, as well as the contributions from the supply chain operations[22]. - The group's annual profit decreased to approximately RMB 10,415,000 in 2021, down from RMB 14,633,000 in 2020, primarily due to increased impairment losses on receivables[50]. Operational Highlights - The company completed the handling of 4,071,698 TEUs (Twenty-foot Equivalent Units) in port services during the year, marking a growth rate of 37.1%[23]. - The supply chain operations and automotive parts trading contributed approximately RMB 116,248,000 in revenue, accounting for 40.3% of total revenue[23]. - The group's operating volume for port logistics services increased by 37.1% to 4,071,698 TEUs in 2021, compared to 2,970,536 TEUs in 2020[34]. - Total revenue for port logistics services rose by 27.9% to RMB 132,227,000 in 2021, up from RMB 103,365,000 in 2020[35]. - The overall throughput of Xiamen Port reached 12.1 million TEUs in 2021, reflecting a year-on-year growth of 5.6%[37]. Strategic Initiatives - The company plans to focus on expanding its supply chain business in the western region of China, particularly in the Chengdu economic circle, to leverage market potential[25]. - The company aims to enhance its port services in light of the new terminal construction in Quanzhou and the official launch of a new terminal in Wuhan[25]. - The company aims to expand its supply chain operations, particularly in the Chengdu area, targeting dual growth in business and profitability in 2022[68]. - The company plans to actively secure land resources in Xiamen to enhance its foreign trade services, particularly in logistics[69]. - The company is confident in achieving dual growth in revenue and profitability in 2022 through its strategic initiatives[71]. Corporate Governance - The board consists of five members, including two executive directors and three independent non-executive directors, complying with the listing rules regarding board composition[76]. - The independent non-executive directors confirmed their independence, and the board believes they meet the independence guidelines set by the listing rules[78]. - The audit committee, composed solely of independent non-executive directors, oversees the company's corporate governance functions[84]. - The company has adopted the standard code for securities transactions by directors, confirming compliance by all directors for the year ended December 31, 2021[74]. - The board is responsible for overall strategy, risk management, and internal control systems, delegating daily operations to management[81]. Employee and Workforce Management - As of December 31, 2021, the group employed 963 employees, an increase from 836 employees as of December 31, 2020[57]. - The company reported a total employee count of 963 as of December 31, 2021, up from 836 in 2020, with a turnover rate of 54% compared to 48% in 2020[193]. - The employee turnover rate increased to 54% in 2021 from 48% in 2020, with the highest turnover rate observed in the under 30 age group at 74%[197]. - The majority of employees (86%) are located in Xiamen, Fujian Province, with a turnover rate of 57% in this region[198]. - The company emphasizes the importance of recruitment and retention for sustainable development, ensuring employees understand their rights and responsibilities[200]. Environmental, Social, and Governance (ESG) Efforts - The board of directors has overall responsibility for environmental, social, and governance (ESG) matters, including risk identification and assessment, and the establishment of relevant risk management and internal control systems[125]. - The environmental, social, and governance report adheres to the Hong Kong Stock Exchange's guidelines, emphasizing the principles of materiality, quantification, balance, and consistency[123]. - The company has allocated sufficient resources for ESG activities, including a reasonable financial budget and time investment from relevant departments such as finance, operations, and human resources[133]. - The company has identified six key environmental, social, and governance (ESG) issues for reporting: emissions, climate change impact, occupational health and safety, labor standards and development, employee training and development, and anti-corruption[148]. - The company aims to fully comply with all applicable environmental protection laws and regulations, reduce its environmental impact, and minimize the use of natural resources[150]. Financial Management and Proceeds Utilization - The net proceeds from the GEM public offering amounted to approximately HKD 40.2 million, based on the final offer price of HKD 0.22 per share[59]. - By December 31, 2021, the actual use of proceeds included HKD 11.2 million for developing container handling facilities and HKD 2.5 million for logistics services in Wuhan[60]. - As of December 31, 2021, approximately HKD 29.0 million of the net proceeds remained unutilized, with plans to fully utilize these funds by December 31, 2023[61]. - The company has established a dividend policy that considers actual and expected financial performance, available reserves, and future cash flow needs[117]. - The auditor's fee for the audit services provided by KPMG for the year ended December 31, 2021, was HKD 840,000, while non-audit services amounted to HKD 220,000[105].

Financial Performance - The company's revenue for the six months ended June 30, 2021, was approximately RMB 135,442,000, representing a 97.8% increase compared to RMB 68,464,000 for the same period in 2020[12]. - Gross profit increased by 59.1% to approximately RMB 30,010,000, up from RMB 18,863,000 in the previous year[12]. - Net profit for the period was approximately RMB 13,234,000, reflecting a significant growth of 121.0% compared to RMB 5,988,000 in the prior year[12]. - Operating profit for the same period was RMB 19,257,000, compared to RMB 9,265,000 in the previous year, indicating a year-on-year increase of 107.5%[71]. - The net profit for the period was RMB 13,234,000, up from RMB 5,988,000 in the prior year, reflecting a growth of 120.5%[71]. - The overall operating profit before tax for the six months ended June 30, 2021, was RMB 18,896,000, compared to RMB 9,130,000 for the same period in 2020, indicating a year-on-year increase of approximately 106.5%[94][96]. Revenue Breakdown - Container handling services recorded an operational volume of 2,304,399 TEUs, a 57.3% increase from 1,464,861 TEUs in the previous year[24]. - Revenue from port logistics services reached RMB 66,829,000, a 47.1% increase from RMB 45,434,000 in the same period last year[25]. - Heavy truck tire revenue for the first half of 2021 was approximately RMB 2,849,000, a decrease of 13.4% compared to RMB 3,289,000 in the same period of 2020[40]. - Construction materials trade revenue surged to RMB 50,820,000 in the first half of 2021, reflecting a significant increase of 1,354.1% from RMB 3,495,000 in the same period of 2020[40]. - The revenue from the Import and Export Agency Services segment was RMB 4,272,000, while the Land Container and Raw Stone Transportation Services segment generated RMB 10,672,000, indicating a decrease of 18.5% and 15.4% respectively compared to the previous year[94][96]. - The revenue from the In-port Logistics Services segment was RMB 29,724,000, and the In-port Container Transportation Services segment contributed RMB 37,105,000, both showing growth compared to the previous year[94]. Expenses and Costs - Employee costs for the first half of 2021 amounted to approximately RMB 42,638,000, up from RMB 35,607,000 in the same period of 2020[41]. - Administrative expenses increased to approximately RMB 11,204,000 in the first half of 2021, compared to RMB 8,937,000 in the same period of 2020[44]. - Tax expenses for the first half of 2021 were approximately RMB 5,662,000, an increase from RMB 3,142,000 in the same period of 2020[46]. - The company incurred total financing costs of RMB 361,000 for the six months ended June 30, 2021, compared to RMB 135,000 in 2020, representing an increase of 167.4%[108]. Assets and Liabilities - The group had net current assets of approximately RMB 120,699,000 as of June 30, 2021, compared to RMB 105,573,000 as of December 31, 2020[48]. - The total assets minus current liabilities as of June 30, 2021, were RMB 155,003,000, an increase from RMB 143,757,000 at the end of the previous year[74]. - The company’s total liabilities decreased to RMB 141,896 thousand as of June 30, 2021, from RMB 128,718 thousand as of January 1, 2021, indicating a reduction in financial obligations[77]. - Trade receivables increased to RMB 85,446,000 as of June 30, 2021, up from RMB 61,028,000 as of December 31, 2020, reflecting a growth of approximately 40%[128]. Strategic Initiatives - The growth in revenue and profit was primarily driven by the profitability of the construction materials supply chain operations in Chengdu, Sichuan, which recorded net profit compared to a net loss in the same period last year[13]. - The company aims to double its business scale in the Chengdu area of Sichuan Province by expanding its supply chain operations in building materials, specifically sand and cement trade[65]. - The company plans to invest in new container handling equipment and develop a new empty container yard in Xiamen Haicang Port area[16]. - The company is actively seeking land resources in Xiamen to develop a modern logistics center, enhancing its competitive edge in foreign trade services[67]. Shareholder Information - As of June 30, 2021, the company had issued 1,000,000,000 shares[151]. - Mr. Cheng Youguo held 562,500,000 shares, representing 56.25% of the company's equity[150]. - The beneficial owner of the major shareholder, Rongxing Investment Limited, is Mr. Cheng Youguo, who fully owns the company[155]. Governance and Compliance - The company has adopted the principles of the Corporate Governance Code as per the Listing Rules and has complied with all applicable code provisions as of June 30, 2021[161]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results for the six months ended June 30, 2021[162].

Financial Performance - The overall revenue of the group increased by 12.0% to approximately RMB 197,773,000 as of December 31, 2020[10]. - The group's profit for the year grew by 23.3% to approximately RMB 14,633,000, primarily due to the absence of one-time expenses related to the transfer from GEM to the main board in 2019 and profitability from the new supply chain operations in Sichuan[11]. - The company's revenue for the year ended December 31, 2020, was approximately RMB 197,773,000, representing a growth of 12.0% compared to RMB 176,607,000 in 2019[23]. - Gross profit for the same period was approximately RMB 44,608,000, a decrease of 14.0% from RMB 51,898,000 in the previous year[23]. - Profit for the year increased by 23.3% to approximately RMB 14,633,000, up from RMB 11,867,000 in 2019[23]. - Logistics services revenue decreased by 30.2%, primarily due to a significant reduction in the volume of imported solid waste and adjustments in operational capacity[31]. - The supply chain operations segment experienced a substantial increase in revenue to approximately RMB 52,521,000, driven by new business in construction materials[39]. Operational Developments - The newly expanded supply chain operations in Sichuan contributed approximately RMB 44,802,000 in revenue during the fiscal year[13]. - The container handling services completed 2,970,000 TEUs, representing a decline of 9.2%[12]. - Container handling services saw a volume decrease of 9.2%, while general cargo handling services increased by 26.7%[24]. - The logistics service business experienced a decline due to the significant reduction in the approved quantity of solid waste imports, but the overall economic situation stabilized in the second half of the year[10]. - The company plans to leverage the favorable conditions of the national western development strategy to explore the potential of the building materials market in the western region, aiming for breakthroughs in revenue and profit[15]. - The company intends to strengthen communication with local government departments in Xiamen to acquire suitable land for developing a comprehensive logistics center project[15]. - The company aims to experiment with foreign trade supply chain operations in Xiamen to accumulate market experience for future logistics services[15]. Employee and Workforce - As of December 31, 2020, the group employed 836 employees, an increase from 772 employees as of December 31, 2019[54]. - Employee costs for the year were approximately RMB 73,092,000, slightly up from RMB 72,538,000 in 2019[40]. - The employee turnover rate improved to 48% in 2020, down from 63% in 2019[200]. - The company added 303 new employees in 2020, compared to 425 in 2019, while 401 employees left the company, down from 481 in the previous year[200]. Corporate Governance - The company has complied with corporate governance standards, ensuring high levels of accountability and transparency to protect shareholder interests[75]. - The board of directors consists of five members, including two executive directors and three independent non-executive directors, maintaining compliance with listing rules[78]. - The independent non-executive directors have confirmed their independence, ensuring adherence to the independence guidelines set by the listing rules[80]. - The company has adopted a standard code for securities trading by directors, ensuring compliance with trading regulations[76]. - The audit committee was established on February 13, 2017, and consists of three independent non-executive directors as of December 31, 2020[96]. - The audit committee held two meetings in the year ended December 31, 2020, with full attendance from its members[98]. - The remuneration committee was formed on February 13, 2017, and includes independent non-executive directors, ensuring no director participates in determining their own remuneration[101]. - The company has established corporate governance policies and practices to comply with legal and regulatory requirements[88]. Risk Management and Internal Control - The company is committed to maintaining a robust internal control system and risk management framework to support its operational strategies[84]. - The board confirmed its responsibility for risk management and internal control systems, which are reviewed for effectiveness and adequacy at least annually[115]. - The company has not established an internal audit department but engages an independent professional internal control consultant to review its internal control systems[115]. - The company aims to minimize risks rather than eliminate them entirely, acknowledging that the internal control system provides reasonable assurance against significant misstatements or losses[115]. - The company has implemented a comprehensive risk management system that includes risk identification, assessment, response strategies, and monitoring[144]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report highlights the company's commitment to sustainable development and outlines its policies and performance in these areas[130]. - The company has established three environmental goals: compliance with applicable laws, reducing environmental impact, and minimizing natural resource usage[161]. - The company has identified significant risks related to its operations and has developed strategies to mitigate these risks[143]. - The company emphasizes the importance of stakeholder engagement and has established a framework for assessing the significance of ESG issues[137]. - The company has complied with all applicable laws and regulations related to air and greenhouse gas emissions, with no significant claims or penalties reported[164]. - The main source of greenhouse gas emissions is from logistics operations, primarily due to diesel consumption from trucks and machinery[165]. - The company aims to reduce its environmental impact by implementing various measures, including route planning for employees and encouraging them to turn off engines upon arrival[166]. - The company produced minimal hazardous waste, primarily used oil and lubricants, which are properly disposed of by qualified waste management firms[169]. Future Outlook - The global economic outlook remains weak, with significant impacts from trade protectionism, COVID-19, and a decline in major economies, leading to expectations of continued economic downturn in 2021[71]. - The company plans to focus on expanding its supply chain operations, particularly in the Chengdu area, aiming for stable growth in business and profitability in 2021[71]. - The company is confident in achieving both revenue and profit growth in 2021 through the outlined strategic initiatives[72].

Financial Performance - The company's revenue for the six months ended June 30, 2020, was approximately RMB 68,464,000, a decrease of 29.1% compared to RMB 96,565,000 in the same period last year[14]. - Gross profit for the same period was approximately RMB 18,863,000, down 28.5% from RMB 26,367,000 year-on-year[14]. - Net profit for the period increased by 8.3% to approximately RMB 5,988,000, attributed to the absence of transfer board professional service fees[15]. - Revenue from port logistics services decreased by 14.1% to RMB 45,434,000, down from RMB 52,880,000 year-on-year[29]. - The logistics services segment experienced a significant decline, with revenue dropping by 59.3% to RMB 16,246,000 from RMB 39,913,000 in the previous year[33]. - Total comprehensive income for the period was RMB 6,036 thousand, up from RMB 5,642 thousand in the same period last year[62]. - Basic and diluted earnings per share were RMB 0.59, compared to RMB 0.54 in 2019[62]. - The company reported a pre-tax profit of RMB 9,130 thousand for the period[84]. - The company reported a pre-tax profit of RMB 10,825,000 for the six months ended June 30, 2020, down from RMB 15,542,000 in 2019, indicating a decline of 30%[92]. Operational Highlights - Container handling services saw a decline in operational volume, with TEU for port logistics services dropping by 13.7% to 1,464,861 TEUs compared to 1,697,628 TEUs in the previous year[27]. - Heavy truck tire and parts trade operating volume increased by 6.7% year-on-year, reaching 70,320 units in H1 2020 compared to 65,895 units in H1 2019[34]. - Supply chain operations revenue rose by 79.9% year-on-year to RMB 6,784,000 in H1 2020, driven by the establishment of Chengdu Xiangxing Supply Chain Management Co., Ltd.[37]. - The company plans to invest in new container handling equipment and develop a new empty container yard in Xiamen Haicang Port area[19]. - The company plans to focus on developing its business in the Chengdu region due to significant market demand[60]. - The company continues to focus on expanding its service offerings in logistics and transportation sectors, aiming for increased market share[84]. Cost and Expenses - Employee costs for H1 2020 amounted to approximately RMB 35,607,000, an increase from RMB 34,698,000 in H1 2019, with a workforce of 792 employees[38]. - Administrative expenses decreased to approximately RMB 8,937,000 in H1 2020 from RMB 14,939,000 in H1 2019, primarily due to the absence of professional service fees[39]. - The cost of consumables decreased significantly to RMB 5,460,000 in 2020 from RMB 8,500,000 in 2019, a reduction of 35.9%[101]. - The company’s income tax expense was RMB 3,142,000 for the six months ended June 30, 2020, down from RMB 4,304,000 in the same period of 2019, a decrease of 26.9%[102]. - The administrative expenses for the six months ended June 30, 2020, were RMB 7,310,000, compared to RMB 9,300,000 in 2019, reflecting a decrease in overhead costs[92]. Assets and Liabilities - As of June 30, 2020, the group had net current assets of approximately RMB 101,006,000, an increase from RMB 95,785,000 as of December 31, 2019[46]. - Non-current assets amounted to RMB 31,905 thousand as of June 30, 2020, compared to RMB 30,544 thousand at the end of 2019[65]. - Current assets totaled RMB 118,588 thousand, a slight decrease from RMB 124,219 thousand at the end of 2019[65]. - The net assets increased to RMB 130,354 thousand as of June 30, 2020, compared to RMB 124,318 thousand at the end of 2019[65]. - Trade receivables decreased to RMB 26,674,000 as of June 30, 2020, compared to RMB 29,125,000 as of December 31, 2019, a decline of 8.4%[114]. - The total amount of trade and notes receivables was RMB 27,174,000 as of June 30, 2020, down from RMB 30,625,000 as of December 31, 2019, a decrease of 11.5%[114]. - As of June 30, 2020, trade payables increased to RMB 8,051,000 from RMB 5,442,000 as of December 31, 2019[127]. Market and Economic Conditions - The decline in revenue was primarily due to the impact of COVID-19 on foreign trade markets, affecting the throughput of major terminals[30]. - The group anticipates continued pressure on its existing businesses due to global economic downturns and trade conflicts, particularly in logistics and supply chain operations[59]. - The impact of COVID-19 on the company's financial performance remains uncertain, with ongoing monitoring of its effects on the business environment[137]. Corporate Governance and Compliance - The board believes that the company has adopted and complied with the principles of the Corporate Governance Code as of June 30, 2020[158]. - The Audit Committee has reviewed the unaudited interim results for the six months ended June 30, 2020[159]. - The company did not declare or pay any dividends for the six months ended June 30, 2020, consistent with the previous year[108]. - The company has not entered into any significant contracts where directors have a material interest as of June 30, 2020[154]. - The company has not established any arrangements that would allow directors to benefit from purchasing shares or bonds of the company or any other entity during the six months ended June 30, 2020[153].

Financial Performance - The company's overall revenue for the year ended December 31, 2019, decreased by 44.2% to approximately RMB 176,607,000 compared to RMB 316,353,000 for the year ended December 31, 2018[18]. - Profit for the year ended December 31, 2019, decreased by 55.9% to approximately RMB 11,867,000, primarily due to one-time expenses related to the transfer to the main board listing and a significant reduction in the quantity of solid waste imports permitted by the Chinese government[11]. - Revenue from import and export agency services decreased significantly by approximately 83.0% from RMB 179,108,000 to RMB 30,369,000 for the year ended December 31, 2019[22]. - Revenue from land transportation services slightly increased by approximately 5.7% from RMB 28,056,000 to RMB 29,663,000 for the year ended December 31, 2019[22]. - The annual profit for the year ended December 31, 2019, was approximately RMB 11,867,000, a decrease from RMB 26,894,000 in the previous year[31]. Operational Highlights - The company's terminal services handled approximately 3.27 million TEUs in 2019, representing a growth of 5.8%, which is higher than the average growth rate of 3.9% for Xiamen Port[11]. - The newly expanded Quanzhou Port business completed the transportation of approximately 1.97 million tons of raw stone, contributing revenue of approximately RMB 10,841,000 in 2019[11]. - The company processed approximately 3,270,959 TEUs and 2,540,437 tons of general cargo, representing growth of approximately 5.8% and 19.5% respectively compared to the previous year[19]. - Revenue from port logistics services increased by 10.1% to approximately RMB 48,974,000, while revenue from container transportation services increased by 2.2% to RMB 60,005,000[20]. Strategic Plans and Challenges - The company plans to continue optimizing production processes and expanding business at Quanzhou Port, aiming to develop container terminal services in addition to raw stone transportation[13]. - The company will cautiously evaluate business development opportunities amid concerns over the ongoing COVID-19 pandemic and its potential severe impact on the global economy[13]. - The overall global economic outlook for 2020 remains weak, with significant uncertainties affecting economic activities and operations due to the COVID-19 pandemic[53]. - The group anticipates achieving breakthroughs in service scope and quantity at the Shihu and Weitou port areas in Quanzhou in 2020, despite facing various adverse factors[54]. Financial Position - As of December 31, 2019, the company had net current assets of approximately RMB 95,785,000, an increase from RMB 79,354,000 in the previous year[32]. - Cash and cash equivalents amounted to approximately RMB 71,544,000 as of December 31, 2019, compared to RMB 41,201,000 in the previous year[32]. - The company had total bank loans of approximately RMB 8,940,000 as of December 31, 2019, compared to none in the previous year[33]. - The effective tax expense for the year ended December 31, 2019, was approximately RMB 7,970,000, down from RMB 10,756,000 in the previous year[30]. Corporate Governance - The board of directors consists of five members, including two executive directors and three independent non-executive directors, ensuring compliance with corporate governance standards[61]. - The group has adhered to the listing rules regarding the appointment of independent non-executive directors and the composition of the audit committee[66]. - The Audit Committee was established on February 13, 2017, and consists of three independent non-executive directors, ensuring compliance with corporate governance codes[71]. - The board confirmed its responsibility for risk management and internal control systems, which are reviewed for effectiveness and adequacy at least annually[96]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report identifies five key areas of focus: emissions, occupational health and safety, labor standards and development, employee development and training, and anti-corruption[127]. - Total greenhouse gas emissions amounted to 6,891.8 tons of CO2 equivalent, with direct emissions (Scope 1) at 6,836.6 tons[134]. - The company emphasizes the importance of effective carbon emission management and supports the transition to a low-carbon economy[129]. - The company has not encountered any significant non-compliance issues with environmental laws and regulations during the reporting period[146]. Employee Management and Development - Employee costs amounted to approximately RMB 72,538,000 for the year ended December 31, 2019, compared to RMB 68,648,000 for the previous year[23]. - Employee count as of December 31, 2019, was 772, down from 828 in 2018, with a turnover of 481 employees[148]. - The company provides a competitive salary policy based on market standards, with performance bonuses awarded to recognize employee contributions[162]. - All new employees undergo orientation training, which includes safety courses and operational procedures, ensuring they are familiar with workplace safety requirements[161]. Compliance and Risk Management - The company has adhered to various laws and regulations related to data confidentiality and intellectual property, including the Hong Kong Intellectual Property Ordinance and the PRC Patent Law[172]. - There were no incidents of non-compliance with anti-corruption, bribery, extortion, fraud, or money laundering laws in 2019[186]. - The company has established a reporting mechanism for employees to report suspected misconduct, ensuring transparency and accountability[186]. - The company has implemented policies to ensure a safe working environment and compliance with relevant laws and regulations[199].