Financial Performance - For the year ended December 31, 2023, revenue from customer contracts was RMB 175,556,000, a decrease of 26.0% from RMB 237,273,000 in 2022[2] - Gross profit for the year was RMB 37,297,000, representing a 16.5% increase compared to RMB 31,967,000 in the previous year[2] - Operating profit increased slightly to RMB 17,845,000, up from RMB 17,184,000 in 2022, reflecting a growth of 3.8%[2] - The net profit for the year was RMB 10,521,000, a 4.3% increase from RMB 10,084,000 in 2022[2] - Total comprehensive income for the year was RMB 12,167,000, compared to RMB 10,194,000 in the previous year, marking an increase of 19.4%[3] - For the fiscal year ending December 31, 2023, total reported revenue was RMB 180,715,000, a decrease from RMB 242,668,000 in the previous year, representing a decline of approximately 25.5%[15][16] - The company reported a total pre-tax profit of RMB 17,605,000 for the fiscal year ending December 31, 2023, compared to RMB 16,533,000 in the previous year, reflecting a slight increase of 6.5%[15][16] - The company reported a pre-tax profit of RMB 21,153,000 for 2023, compared to RMB 20,509,000 in 2022, reflecting a year-on-year increase of 3.1%[22] Revenue Breakdown - Revenue from import and export agency services dropped to RMB 5,705,000 in 2023 from RMB 28,068,000 in 2022, a decline of 79.7%[24] - The revenue from land container and raw stone transportation services was RMB 19,380,000 in 2023, down from RMB 23,089,000 in 2022, a decrease of 16.8%[24] - The logistics segment, which includes port logistics services, generated revenue of RMB 54,507,000, contributing significantly to the overall revenue[15] - Revenue from inland logistics services was approximately RMB 135,572,000, showing a slight increase of 0.1% compared to RMB 135,472,000 in 2022[52] - The revenue from land transportation services decreased by 16.1% to RMB 19,380,000, while import and export agency services saw a significant decline of 79.7% to RMB 5,705,000, leading to a total logistics service revenue drop of 51.0%[55] - The revenue from heavy truck tires and parts trade fell by 70.8% to RMB 1,492,000, and building materials trade revenue decreased by 60.8% to RMB 13,407,000, resulting in a total supply chain operation revenue decline of 70.6% to RMB 14,899,000[56][57] Cost Management - The company’s administrative expenses for the fiscal year were RMB 19,830,000, which is a decrease from the previous year's RMB 23,091,000, indicating improved cost management[15][16] - The total administrative expenses for 2023 were RMB 15,960,000, down from RMB 19,115,000 in 2022, indicating cost control measures[22] - The company reported a significant reduction in financing costs, decreasing to RMB 240,000 from RMB 651,000, a drop of 63.1%[2] - Employee costs for the year were approximately RMB 91,222,000, down from RMB 109,126,000 in 2022[58] Asset Management - Cash and cash equivalents increased significantly to RMB 49,794,000 from RMB 28,220,000, representing a growth of 76.5%[5] - Trade and other receivables rose to RMB 139,200,000 from RMB 126,288,000, an increase of 10.2%[5] - The company's total assets increased to RMB 201,325,000 from RMB 162,407,000, reflecting a growth of 24.0%[5] - The total trade receivables decreased to RMB 114,241,000 in 2023 from RMB 122,989,000 in 2022, a decline of approximately 7.2%[32] - As of December 31, 2023, the company had net current assets of approximately RMB 172,707,000, an increase from RMB 129,044,000 in 2022, with cash and cash equivalents rising to RMB 49,794,000 from RMB 28,220,000[62] Strategic Focus - The company’s strategy includes focusing on enhancing service delivery in various operational segments, including land container transport and construction material trading[14] - The company plans to focus on enhancing management and optimizing production processes to improve efficiency and meet market demands[46] - The company will closely monitor the recovery of the domestic infrastructure and real estate markets to potentially restart supply chain operations focused on sand and gravel[46] - The company has decided to pause plans for land acquisition in Xiamen Port for a comprehensive logistics center until market conditions become clearer[44] - The company aims to strengthen communication with port terminals and seek new cooperation projects[50] Governance and Compliance - The audit committee reviewed the financial statements for the year ending December 31, 2023, ensuring compliance with applicable accounting standards and regulations[87] - The company has adopted and complied with the corporate governance code as per the listing rules for the year ending December 31, 2023[75] - The company has maintained good relationships with customers, employees, and investors, complying with all relevant laws and regulations during the review period[80] - The company did not engage in any significant acquisitions or disposals during the year[66] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the year[79] - There were no significant events affecting the group after the reporting period up to the announcement date[81] Dividends and Shareholder Returns - The company did not declare any dividends for the year ended December 31, 2023, consistent with the previous year[28] - The board did not recommend any final dividend for the year ending December 31, 2023, consistent with the previous year[78] Other Financial Metrics - Basic and diluted earnings per share decreased to RMB 0.93 from RMB 1.02, a decline of 8.8%[3] - The company experienced a net impairment loss of RMB 681,000 on trade receivables, reflecting challenges in receivables management[17] - The net impairment loss on trade receivables for 2023 was RMB 681,000, significantly lower than RMB 6,233,000 in 2022, reflecting improved credit management[22] - Interest income from bank deposits amounted to RMB 758,000, while interest expenses totaled RMB 240,000, resulting in a net interest income of RMB 518,000[17] - The company reported no contingent liabilities as of December 31, 2023[74]

Financial Performance - The company's revenue for the six months ended June 30, 2023, was approximately RMB 77,377,000, a decrease of 41.5% compared to RMB 132,174,000 in the same period last year[6]. - Gross profit for the same period was approximately RMB 19,670,000, down 25.0% from RMB 26,244,000 year-on-year[6]. - Net profit for the six months ended June 30, 2023, was approximately RMB 843,000, representing a significant decline of 87.3% compared to RMB 6,655,000 in the previous year[6]. - Operating profit decreased to RMB 3,434 thousand, a decline of 67.7% from RMB 10,620 thousand in the previous year[51]. - The company reported a consolidated profit before tax of RMB 3,303,000 for the first half of 2023, compared to RMB 10,248,000 for the same period in 2022, representing a decline of 67.8%[66][68]. Revenue Breakdown - Revenue from port logistics services decreased by 9.7% to RMB 62,525,000, with the main reason being a decline in operational volume at key terminals[11]. - Revenue from logistics services fell by 61.4% to RMB 11,470,000, primarily due to a significant reduction in heavy container transport and import-export agency services[14]. - Revenue from supply chain operations decreased by 89.8% to RMB 3,382,000, mainly due to the suspension of transactions with certain long-term overdue accounts receivable clients[17]. - Revenue from external customers for the construction materials and automotive parts trading segment was RMB 77,377,000 for the first half of 2023, down from RMB 132,174,000 in the same period of 2022, indicating a decrease of 41.4%[66][68]. Operational Challenges - The decline in revenue and profit was primarily due to the company's proactive reduction of supply chain operations to lower accounts receivable risks and a decrease in port and logistics services due to economic conditions[6]. - Container throughput in port logistics services decreased by 3.2% to 2,037,438 TEUs, while general cargo throughput dropped significantly by 73.2% to 355,325 tons[10]. - The overall economic environment remains complex, with significant downward pressure on economic growth, as evidenced by a 5% year-on-year decline in corporate income tax revenue in the first half of 2023[40]. Cost Management - Employee costs for the six months ended June 30, 2023, were approximately RMB 45,359,000, down from RMB 49,575,000 in the same period last year, with a reduction in headcount from 973 to 879 employees[18]. - Administrative expenses for the same period were approximately RMB 15,108,000, slightly down from RMB 15,496,000 year-on-year[19]. - The company’s financing costs for the first half of 2023 were RMB 131,000, compared to RMB 372,000 in the same period of 2022, reflecting a reduction of 64.8%[66][68]. Asset and Liabilities Management - As of June 30, 2023, the group had net current assets of approximately RMB 162,025,000, an increase from RMB 129,044,000 as of December 31, 2022[25]. - The group had cash and cash equivalents of approximately RMB 55,870,000 as of June 30, 2023, compared to RMB 28,220,000 as of December 31, 2022[25]. - The group had no bank loans as of June 30, 2023, compared to RMB 8,000,000 in bank loans as of December 31, 2022[26]. - The company has no asset pledges or contingent liabilities as of June 30, 2023[39]. Future Plans and Strategies - The company plans to restart supply chain operations focused on construction materials to adapt to the changing international environment and stimulate domestic demand[48]. - A three-year cooperation agreement has been signed with two major port operators in Xiamen to stabilize the port services business, with new terminal constructions in Quanzhou and Wuhan expected to contribute to growth[49]. - The company aims to narrow the decline in revenue and profit for the full year 2023 compared to the first half of the year[49]. Shareholder Information - The company completed a placement of 200,000,000 shares at a price of HKD 0.16 per share, raising approximately HKD 32,000,000, with a net amount of HKD 31,300,000[23]. - The major shareholder, Mr. Cheng Youguo, holds 562,500,000 shares, representing 46.88% of the company[103]. - The average number of ordinary shares in issue for the calculation of basic earnings per share increased to 1,200,000,000 for the six months ended June 30, 2023, from 1,000,000,000 in the same period of 2022[85]. Economic Context - In the first half of 2023, China's total import and export volume reached 29.2 trillion USD, a decrease of 4.7% year-on-year, with exports at 16.6 trillion USD (down 3.2%) and imports at 12.5 trillion USD (down 6.7%)[41]. - The average urban unemployment rate in China for the first half of 2023 was 5.3%, with the unemployment rate for the 16-24 age group reaching 21.3% in June 2023, indicating significant challenges in enhancing consumer spending power[42]. - Fixed asset investment growth in China was 3.8% year-on-year in the first half of 2023, marking a decline from 5.1% in the first quarter, the lowest since 2021[43].

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） 截至二零二三年六月三十日止六個月之中期業績公告 象興國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及 其附屬公司截至二零二三年六月三十日止六個月期間之未經審核簡明業績。本公告 載有本公司二零二三年中期報告全文，並符合香港聯合交易所有限公司（「聯交所」） 證券上市規則中有關中期業績初步公告附載資料之相關規定。本公司之二零二三 年中期報告將於二零二三年九月四日在聯交所網站 www.hkexnews.hk及本公司網站 www.xxlt.com.cn可供閱覽，而本公司之二零二三年中期報告之印刷版本將於適當時 候寄發予本公司股東。 承董事會命 象興國際控股有限公司 主席 ...

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].