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].