Financial Performance - In 2024, the company's revenue decreased by approximately 17.3% to RMB 906.5 million, down from RMB 1,096.4 million in 2023[8] - The company recorded a loss attributable to equity holders of RMB 39.5 million in 2024, compared to a profit of RMB 30.5 million in 2023[8] - The adjusted loss for the year was RMB 37.3 million in 2024, compared to an adjusted profit of RMB 35.5 million in 2023[14] - Gross profit for the year ended December 31, 2024, was RMB 129.5 million, a decrease of approximately 47.0% compared to RMB 244.5 million in 2023, with a gross margin of about 14.3%[26] - The total revenue for the group was RMB 906.5 million for the year ended December 31, 2024, a decrease of approximately 17.3% from RMB 1,096.4 million in 2023[25] Business Segments - Revenue from the internet advertising business fell by approximately 27.6% to RMB 607.4 million in 2024, down from RMB 838.9 million in 2023[16] - The user operation SaaS platform business had a total revenue of RMB 244.5 million for the year ended December 31, 2024, representing a growth of approximately 27.4% compared to RMB 191.9 million in 2023[21] - The total value of new contracts signed (including renewals) for the user operation SaaS platform was approximately RMB 129.4 million in 2024, up from RMB 89.2 million in 2023[15] Customer and Supplier Dynamics - The number of paid customers using the user operation SaaS platform decreased to 631 in 2024 from 693 in 2023, including 199 customers from the financial sector[15] - The group’s top five customers accounted for 52.8% of total revenue, down from 74.0% in 2023, with the largest single customer contributing 17.5% of total revenue, compared to 30.4% in the previous year[56] - The group’s top five suppliers represented 37.3% of total procurement, a decrease from 43.3% in 2023, with the largest single supplier accounting for 16.9% of total procurement, down from 19.1%[57] Assets and Liabilities - The company's total non-current assets increased to RMB 401.5 million in 2024 from RMB 385.4 million in 2023[11] - The total current assets rose to RMB 1,969.2 million in 2024, compared to RMB 1,756.1 million in 2023[11] - The total equity decreased slightly to RMB 1,325.2 million in 2024 from RMB 1,355.0 million in 2023[11] - The company's capital debt ratio as of December 31, 2024, was approximately 35.9%, up from 25.7% in 2023[35] Operational Efficiency - Sales and distribution expenses were RMB 88.4 million for the year ended December 31, 2024, a decrease of approximately 24.9% from RMB 117.7 million in 2023[27] - Administrative expenses decreased to RMB 85.9 million for the year ended December 31, 2024, from RMB 115.8 million in 2023, a reduction of approximately 25.8%[28] - The number of employees in the R&D department increased to 153 as of December 31, 2024, from 144 in 2023, while R&D expenses decreased by approximately 31.0% to RMB 30.9 million[23] Corporate Governance - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, complying with listing rules[135] - The company has established a remuneration committee to review the remuneration policies and structures for all directors and senior management, considering the group's operational performance[79] - The independent non-executive directors play a crucial role in providing impartial opinions on strategic, performance, and control issues[137] Risk Management - The company has established a risk management and internal control policy to identify, assess, and manage operational risks[183] - The board is responsible for evaluating the nature and extent of risks the company is willing to take to achieve strategic objectives[183] - The company is closely monitoring market trends and regulatory developments to mitigate risks associated with its operations[188] Environmental and Social Responsibility - The company has implemented various energy-saving and resource conservation measures, including waste sorting and paperless operations, to minimize resource consumption[63] - The company has complied with relevant environmental laws and regulations, with no known violations during the reporting period[64] - The company aims to enhance gender diversity by creating favorable conditions to attract more female talent, particularly in senior management positions[149] Future Outlook and Strategy - The company plans to enhance team capabilities and invest in R&D, particularly in AI and big data analytics, to improve service quality and efficiency[8] - The company plans to focus on structural optimization of its advertising business and upgrading digital service capabilities to enhance core competitiveness[45] - The management discussion and analysis section provides insights into the business conditions, risks, and outlook for 2025, highlighting key events affecting the group since December 31, 2024[53]

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 906,513,000, a decrease of approximately 17.3% compared to RMB 1,096,438,000 in 2023[4] - Gross profit for the year was RMB 129,462,000, down from RMB 244,472,000 in the previous year, indicating a significant decline in profitability[4] - The company reported a net loss of RMB 39,461,000 for the year, compared to a profit of RMB 30,450,000 in 2023, reflecting a substantial turnaround in financial performance[4] - Basic and diluted loss per share was RMB (3.7) compared to earnings of RMB 2.9 per share in 2023, highlighting a negative shift in shareholder value[5] - The pre-tax loss for 2024 was RMB 37,195,000 compared to a profit of RMB 35,383,000 in 2023, indicating a significant decline in performance[18] - The group recorded a loss attributable to equity holders of the parent of RMB 39.5 million for the year ended December 31, 2024, compared to a profit of RMB 30.5 million in 2023, with a basic loss per share of RMB 3.7 cents[37] - For the fiscal year ending December 31, 2024, the company reported an adjusted loss of RMB 37.3 million, compared to an adjusted profit of RMB 35.5 million in 2023[39] Revenue Breakdown - Internet advertising business revenue was RMB 607,363 thousand, down 27.5% from RMB 838,859 thousand in 2023[14] - Total revenue for the group was RMB 906.5 million for the year ended December 31, 2024, a decrease of approximately 17.3% from RMB 1,096.4 million in 2023, primarily due to a decline in internet advertising revenue[33] - Internet advertising revenue decreased by approximately 27.6% to RMB 607.4 million in 2024, down from RMB 838.9 million in 2023[30] - User operation SaaS platform revenue increased to RMB 244,534 thousand, up 27.4% from RMB 191,884 thousand in 2023[14] Expenses and Cost Management - Operating expenses decreased, with sales and distribution expenses at RMB 88,392,000 compared to RMB 117,747,000 in 2023, and administrative expenses at RMB 85,941,000 compared to RMB 115,771,000[4] - Research and development costs decreased to RMB 30,861,000 in 2024 from RMB 44,739,000 in 2023, indicating a reduction in investment in innovation[18] - Selling and distribution expenses were RMB 88.4 million in 2024, a decrease of approximately 24.9% from RMB 117.7 million in 2023, with selling and distribution expenses accounting for approximately 9.8% of total revenue[35] - Administrative expenses were RMB 85.9 million in 2024, down approximately 25.8% from RMB 115.8 million in 2023, representing about 9.5% of total revenue[36] Assets and Liabilities - The company’s total current liabilities rose to RMB 1,044,168,000 from RMB 784,108,000 in 2023, suggesting increased financial obligations[6] - The company’s total assets increased to RMB 2,370,780,000 from RMB 2,141,462,000 in the previous year, indicating growth in asset base despite the loss[6] - Total assets less current liabilities as of December 31, 2024, were RMB 1,326,612 thousand, a decrease from RMB 1,357,354 thousand in 2023[7] - The company's net asset value was RMB 1,325,235 thousand, down from RMB 1,354,996 thousand in 2023[7] Cash Flow and Investments - The net cash outflow from operating activities for the fiscal year ending December 31, 2024, was RMB 537.0 million, an increase from RMB 297.1 million in 2023, primarily due to an increase in trade receivables[40] - The net cash inflow from investment activities for the fiscal year ending December 31, 2024, was RMB 348.8 million, significantly higher than RMB 24.4 million in 2023, mainly due to the maturity of certain financial products[40] - The company’s cash and cash equivalents stood at RMB 280,750,000 as of December 31, 2024, slightly down from RMB 288,460,000 in 2023[6] Trade Receivables and Credit Risk - Trade receivables increased significantly to RMB 723,783,000 from RMB 344,051,000 in the previous year, indicating a potential issue with collections or sales growth[6] - Trade receivables increased to RMB 785,455,000 in 2024 from RMB 390,629,000 in 2023, with a net value of RMB 723,783,000 after impairment[23] - The impairment loss on trade receivables was RMB 61,672,000 in 2024, compared to RMB 46,578,000 in 2023, indicating a rise in credit risk[23] Shareholder Information - The company did not recommend any final dividend for the year ended December 31, 2024, consistent with the previous year[19] - The weighted average number of ordinary shares issued increased to 1,063,918,250 in 2024 from 1,058,004,500 in 2023, reflecting a slight increase in share count[21] Corporate Governance - The company has no direct or ultimate holding company, with the major shareholder being Mr. Chen Xiaoliang[8] - The board of directors includes executive directors Mr. Chen Xiaoliang, Mr. Zhu Jiangbo, and Mr. Cheng Peng, as well as non-executive director Ms. Yang Jiaqing, and independent non-executive directors Mr. Gan Weimin, Dr. Gao Fuping, and Dr. Shi Jianxun[66] - The audit committee has been established, chaired by independent non-executive director Mr. Gan Weimin, including two other independent non-executive directors, Dr. Gao Fuping and Dr. Shi Jianxun[59] Future Outlook and Strategy - The company aims to enhance its core competitiveness by focusing on structural optimization of advertising business and upgrading digital service capabilities, with a commitment to invest more in R&D, particularly in artificial intelligence and big data analytics[51] - The company does not have any significant plans for major investments or acquisitions outside of its regular business operations as of December 31, 2024[45] Legal and Compliance - The company has not recognized any provisions for the legal claim amounting to approximately HKD 61 million as of December 31, 2024, due to the belief that it has sufficient defenses against the claim[46] - A qualified opinion was issued due to insufficient audit evidence regarding a non-listed BVI fund valued at RMB 80,358,000, which recorded a fair value gain of RMB 871,000 for the year ending December 31, 2023[63] Miscellaneous - All revenue was generated from customers in mainland China, with all non-current assets located in the same region[12] - The company operates as a leading SaaS service provider in China, focusing on user growth and retention for various industries[25] - The user operation SaaS platform aims to enhance user engagement through various tools, contributing to cost-effective user acquisition and retention strategies[26] - The number of paid customers for the user operation SaaS service decreased to 631 as of December 31, 2024, down from 693 in 2023, including 199 financial industry customers (2023: 248) and 432 customers from other industries (2023: 445) [27]

Financial Management and Compliance - Duiba Group Limited received a total of HKD 42,768,578 and USD 3,313,930 from the BVI fund as part of an early redemption request, completing the redemption process by August 30, 2024[2]. - The company has established a financial product investment management policy to enhance internal control measures, ensuring compliance with investment policies related to the BVI fund[3]. - Duiba Group Limited's previous auditor, Ernst & Young, raised concerns regarding the adequacy of audit evidence related to the investment fund payments, leading to a qualified opinion on the financial statements[2]. - The company plans to implement additional measures to strengthen internal control procedures, including enhanced due diligence and communication with invested parties at least quarterly[5]. - Duiba Group Limited aims to ensure that all payments related to investments are consistent with the agreements and clearly specify relevant bank account details[5]. - The company will conduct independent background checks on third parties involved in investment payments, requiring KYC documentation[5]. - Management believes that there are no significant deficiencies in internal control procedures despite the auditor's concerns[4]. - The company will discuss necessary audit evidence with its auditors before signing investment agreements to ensure compliance[5]. - Duiba Group Limited has committed to updating its auditors regularly regarding any changes that may affect the accounting treatment of related assets or investments[5]. - The company is focused on improving its investment approval processes to prevent similar issues in the future[4].

Revenue Performance - Total revenue for the six months ended June 30, 2024, was RMB 458.3 million, a decrease of 35.3% compared to RMB 708.4 million for the same period in 2023[7]. - For the six months ended June 30, 2024, the company recorded total revenue of RMB 458.3 million, a decrease of approximately 35.3% compared to RMB 708.4 million for the same period in 2023[24]. - Internet advertising business revenue decreased by 48.5% to RMB 318.2 million for the six months ended June 30, 2024, down from RMB 617.3 million in the same period of 2023[20]. - Revenue from SaaS platform operations reached RMB 116,965 thousand for the six months ended June 30, 2024, up from RMB 84,583 thousand in the same period of 2023, representing a growth of 38%[92]. - Major customer 1 contributed RMB 68,140 thousand to revenue in the first half of 2024, while major customer 2 contributed RMB 62,437 thousand, compared to RMB 278,548 thousand from major customer 2 in the same period of 2023[91]. User Metrics - Daily active users decreased to 15.4 million from 27.6 million year-over-year, while monthly active users fell to 277.2 million from 447.1 million[11]. - The number of paid customers increased to 531, with 170 from the financial sector and 361 from other industries, compared to 519 total paid customers in the first half of 2023[10]. - The number of advertising page views dropped to 3,034.1 million from 5,271.8 million year-over-year[11]. - The number of billed clicks decreased to 912.2 million from 1,651.5 million in the previous year[11]. Financial Losses - Adjusted loss for the period was RMB 17.6 million, compared to a profit of RMB 24.0 million in the first half of 2023[8]. - The company reported a net loss of RMB 19.1 million for the six months ended June 30, 2024, compared to a profit of RMB 22.1 million for the same period in 2023[8]. - For the six months ended June 30, 2024, the loss attributable to shareholders was RMB 19.1 million, compared to a profit of RMB 22.1 million in the same period of 2023[31]. - The company reported a pre-tax loss of RMB (19,527) thousand for the six months ended June 30, 2024, compared to a profit of RMB 28,284 thousand for the same period in 2023[79]. Cost and Expenses - Gross profit for the six months ended June 30, 2024, was RMB 61.5 million, a decrease of approximately 63.2% from RMB 167.0 million in the first half of 2023, resulting in a gross margin of about 13.4%[25]. - Research and development expenses decreased by 27.6% to RMB 23.8 million in the first half of 2024, down from RMB 32.9 million in the same period of 2023[21]. - Sales and distribution expenses were RMB 41.3 million, a decrease of 39.3% from RMB 68.1 million in the first half of 2023[26]. - Administrative expenses were RMB 52.5 million, down 23.5% from RMB 68.6 million in the first half of 2023, primarily due to employee optimization and stricter cost control[27]. Cash Flow and Assets - The net cash outflow from operating activities was RMB 374.9 million, significantly higher than RMB 150.8 million in the first half of 2023, primarily due to an increase in trade receivables[31]. - As of June 30, 2024, the company had cash and cash equivalents of approximately RMB 232.0 million, up from RMB 191.4 million on June 30, 2023[31]. - Trade receivables increased significantly to RMB 682,714 thousand as of June 30, 2024, compared to RMB 344,051 thousand at the end of 2023, reflecting a 98.5% increase[74]. - The company’s total liabilities increased to RMB 953,406 thousand as of June 30, 2024, compared to RMB 784,108 thousand at the end of 2023, representing a 21.6% increase[74]. Corporate Governance - The company has adopted the Corporate Governance Code and has complied with all applicable provisions as of June 30, 2024[43]. - The board of directors has confirmed compliance with the Standard Code of Conduct regarding securities trading for the six months ending June 30, 2024[47]. - The company has established a balanced power structure and appropriate safeguards in its governance practices[43]. - The chairman and CEO roles are held by the same individual to enhance decision-making efficiency, as per the board's assessment[43]. Future Outlook and Strategies - New strategies and market expansion efforts are ongoing, with a focus on enhancing user engagement and advertising effectiveness[10]. - The company plans to invest in new product development, particularly in AI-driven technologies[158]. - Market expansion strategies include targeting tier-2 and tier-3 cities in China to increase user base[158]. - The company is exploring potential mergers and acquisitions to strengthen its market position[158]. - Future outlook includes a projected revenue growth of 15% year-over-year for the next fiscal year[158].

Financial Performance - Total revenue for the six months ended June 30, 2024, was RMB 458.3 million, a decrease of 35.3% compared to RMB 708.4 million for the same period in 2023[1]. - The internet advertising business reported revenue of RMB 318.2 million, down from RMB 617.3 million year-over-year[1]. - Revenue for the first half of 2024 was RMB 458,259,000, a decrease of 35.5% compared to RMB 708,393,000 in the first half of 2023[8]. - Gross profit for the first half of 2024 was RMB 61,502,000, down 63.3% from RMB 166,954,000 in the same period last year[8]. - The company reported a net loss of RMB 19,078,000 for the first half of 2024, compared to a profit of RMB 22,084,000 in the first half of 2023[8]. - The adjusted loss for the period was RMB 17.6 million, compared to a profit of RMB 24.0 million in the same period last year[3]. - The company reported a loss attributable to ordinary equity holders of RMB 19,078,000 for the six months ended June 30, 2024, compared to a profit of RMB 22,084,000 for the same period in 2023[30][31]. User Metrics - Daily active users decreased to 15.4 million from 27.6 million, while monthly active users fell to 277.2 million from 447.1 million[5]. - The number of advertising page views dropped to 3,034.1 million from 5,271.8 million year-over-year[5]. - The number of paying customers for the user operation SaaS service increased to 531 as of June 30, 2024, compared to 519 in the first half of 2023[38]. SaaS Platform Performance - The user operation SaaS platform business generated revenue of RMB 117.0 million, up from RMB 84.6 million in the same period last year, with 531 paying customers as of June 30, 2024[4]. - The total value of new contracts signed (including renewals) for the six months was RMB 755 million, significantly higher than RMB 410 million in the same period last year[4]. - Revenue from the SaaS platform business was RMB 116,965 thousand, up 38.3% from RMB 84,583 thousand in the previous year[24]. - The total value of new contracts signed for the user operation SaaS platform reached RMB 75.5 million in the first half of 2024, significantly higher than RMB 41.0 million in the same period of 2023[38]. Cost and Expenses - Cost of goods sold for the six months ended June 30, 2024, was RMB 89,899 thousand, an increase of 93.8% from RMB 46,316 thousand in the previous year[26]. - Research and development expenses were RMB 23,802 thousand, down 27.6% from RMB 32,881 thousand in the same period last year[26]. - Selling and distribution expenses decreased by 39.3% to RMB 41.3 million in H1 2024 from RMB 68.1 million in H1 2023, accounting for approximately 9.0% of total revenue[45]. - Administrative expenses decreased by 23.5% to RMB 52.5 million in H1 2024 from RMB 68.6 million in H1 2023, representing about 11.5% of total revenue[46]. Cash Flow and Assets - Cash flow from operating activities for the first half of 2024 was a net outflow of RMB 374,925,000, compared to a net outflow of RMB 150,766,000 in the first half of 2023[12]. - Current assets totaled RMB 682,714,000 as of June 30, 2024, compared to RMB 1,756,112,000 as of December 31, 2023[10]. - Cash and cash equivalents at the end of June 30, 2024, amounted to RMB 232,033 thousand, up from RMB 191,447 thousand at the end of June 30, 2023, reflecting a year-over-year increase of approximately 21.2%[14]. - The company incurred a significant cash outflow of RMB (402,664) thousand for the purchase of time deposits during the six months ended June 30, 2024, compared to RMB (108,365) thousand in the same period of 2023[13]. Liabilities and Financial Position - The company’s total liabilities increased to RMB 953,406,000 as of June 30, 2024, up from RMB 784,108,000 at the end of 2023[11]. - The company's capital debt ratio increased to approximately 34.5% as of June 30, 2024, from 8.1% as of June 30, 2023, primarily due to an increase in interest-bearing bank loans[50]. - The group reported a decline in revenue and gross profit in its internet advertising business for the six months ended June 30, 2024, due to cautious spending by advertising clients[61]. Corporate Governance and Compliance - The company has adhered to all applicable corporate governance code provisions for the six months ending June 30, 2024[64]. - The board of directors has confirmed compliance with the securities trading standards for the six months ending June 30, 2024[65]. - The audit committee reviewed the unaudited interim results for the six months ending June 30, 2024[67].

Financial Performance - The company's revenue for 2023 decreased by 32.2% year-on-year to RMB 1,096.4 million, down from RMB 1,616.6 million in 2022[8]. - The net profit attributable to the company's shareholders for 2023 was RMB 30.5 million, a significant recovery from a net loss of RMB 45.9 million in 2022[8]. - The adjusted net profit for 2023 was RMB 35.5 million, compared to an adjusted loss of RMB 31.8 million in 2022, primarily due to reduced operating costs and stricter internal control of related expenses[14]. - The internet advertising business revenue fell sharply to RMB 838.9 million in 2023 from RMB 1,425.8 million in 2022[13]. - Gross profit for the year was RMB 244.5 million, down about 20.9% from RMB 309.1 million in 2022, with a gross margin of approximately 22.3%[35]. - Selling and distribution expenses decreased by 23.8% to RMB 117.7 million, while the percentage of total revenue increased to approximately 10.7%[36]. - Administrative expenses were RMB 115.8 million, a reduction of 42.8% from RMB 202.5 million in 2022, with the percentage of total revenue decreasing to about 10.6%[38]. - The company recorded a profit attributable to equity holders of RMB 30.5 million, compared to a loss of RMB 45.9 million in 2022, with basic earnings per share of RMB 0.029[39]. - The company recorded total revenue of RMB 1,096.4 million for the year ended December 31, 2023, a decrease of approximately 32.2% compared to RMB 1,616.6 million in 2022[34]. User Operation SaaS Platform - The user operation SaaS platform business generated revenue of RMB 191.9 million in 2023, an increase from RMB 165.5 million in 2022[13]. - The total value of new contracts signed (including renewals) for the user operation SaaS platform was approximately RMB 89.2 million in 2023, down from RMB 138.8 million in 2022[16]. - The company signed 368 new contracts (including renewals) for its user operation SaaS platform in 2023, down from 464 in 2022[23]. - Revenue from the user operation SaaS platform increased by 15.9% to RMB 191.9 million, primarily due to growth in other value-added services[34]. - The average revenue per signed contract was approximately RMB 242,000 in 2023[23]. Advertising Business - Internet advertising revenue dropped by 41.2% to RMB 838.9 million in 2023, compared to RMB 1,425.8 million in 2022[29]. - Internet advertising revenue decreased by 41.2% to RMB 838.9 million, reflecting a significant weakness in growth due to tightening budgets from advertising clients amid economic uncertainty[34]. - The number of content distribution channels for internet advertising decreased to 3,362 in 2023 from 5,023 in 2022[21]. Customer Metrics - As of December 31, 2023, the company had 693 paying customers, a decrease from 711 in 2022, with 248 from the financial sector and 445 from other industries[16]. - Daily active users decreased to 23.2 million in 2023 from 36.9 million in 2022, while monthly active users fell to 373.0 million from 565.6 million[17]. - The company's major customers accounted for 74.0% of total revenue for the fiscal year ending December 31, 2023, down from 86.8% in 2022, with the largest customer contributing 30.4% of total revenue[89]. Assets and Liabilities - Total non-current assets increased to RMB 385.4 million in 2023, up from RMB 226.0 million in 2022[12]. - Current assets rose to RMB 1,756.1 million in 2023, compared to RMB 1,583.7 million in 2022[12]. - Total current liabilities increased to RMB 784.1 million in 2023 from RMB 501.1 million in 2022[12]. - As of December 31, 2023, the group holds a 19.0% stake in Zhejiang Gushang Intelligent Technology Co., Ltd. with a book value of RMB 234.9 million, representing approximately 11.0% of the group's total assets[50]. Operational Efficiency - The company’s R&D expenses decreased by 63.8% to RMB 44.7 million in 2023 from RMB 123.5 million in 2022, with R&D staff reduced to 144 from 298[30]. - The click-through rate improved to 29.8% in 2023 from 24.9% in 2022[17]. - The company aims to continue providing efficient and precise digital marketing solutions to enhance customer loyalty amid economic uncertainties[9]. Economic Outlook - The outlook for 2024 indicates that global economic uncertainties may impact the growth rate of advertising spending, leading to conservative digital transformation expenditures by businesses[9]. - The group anticipates that global economic uncertainty may impact the growth rate of advertising spending in 2024, leading to more conservative digital transformation expenditures by companies[58]. Corporate Governance - The company has established a compensation committee to review the compensation policies and structures for all directors and senior management, considering the group's operational performance and individual contributions[116]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, complying with listing rules regarding board composition[183]. - The company has implemented a board diversity policy that considers various aspects such as gender, age, and professional qualifications[189]. - The audit committee, chaired by an independent non-executive director, oversees the effectiveness of financial reporting and internal controls[169]. - The company has retained Ernst & Young as its auditor for the reporting period, with a resolution for their reappointment to be presented at the annual general meeting[173]. Employee Relations - The number of employees decreased to 437 as of December 31, 2023, down from 748 a year earlier, with employee benefit expenses amounting to approximately RMB 166.5 million[56]. - The company has not experienced any labor disputes or strikes during the reporting period, maintaining good relations with employees[95]. - The company provides competitive salaries and additional benefits to employees, including meal subsidies and continuous education[94]. Environmental and Social Responsibility - The company is committed to environmental protection and resource conservation, implementing various measures to reduce energy consumption and carbon emissions[98]. - The group donated a total of RMB 26,000 to various charitable organizations during the year ended December 31, 2023[57]. - The company made charitable donations totaling RMB 260,000 during the reporting period[160]. Investment and Financial Management - The company is exploring investment opportunities in private equity funds and fixed-income private funds to better utilize its cash reserves[69]. - The company has implemented a financial product investment management policy to enhance investment approval processes, particularly for non-principal protected products exceeding RMB 20 million, which requires board approval[78]. - The company has established long-term relationships with major customers and has a large customer base, focusing on improving customer experience and reducing complaints[92].

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 1,096,438, a decrease of 32.2% compared to RMB 1,616,602 in 2022[1] - Gross profit for 2023 was RMB 244,472, down from RMB 309,119 in 2022, reflecting a decline in gross margin[3] - The company reported a net profit of RMB 30,450 for 2023, compared to a net loss of RMB 45,897 in 2022, indicating a significant turnaround[3] - Total revenue from customer contracts decreased to RMB 1,096,438 thousand in 2023 from RMB 1,616,602 thousand in 2022, representing a decline of approximately 32.2%[25] - Internet advertising business revenue fell to RMB 838,859 thousand in 2023, down from RMB 1,425,784 thousand in 2022, a decrease of about 41.2%[25] - The user operation SaaS platform business generated revenue of RMB 191,884 thousand in 2023, up from RMB 165,548 thousand in 2022, reflecting a growth of approximately 15.9%[25] - Pre-tax profit for 2023 was RMB 35,383 thousand, compared to a loss of RMB 27,157 thousand in 2022, indicating a turnaround in profitability[30] - Basic earnings per share for 2023 was RMB 30,450 thousand, recovering from a loss of RMB 45,897 thousand in 2022[33] Cash Flow and Assets - The company’s cash and cash equivalents decreased to RMB 288,460 in 2023 from RMB 654,671 in 2022, reflecting cash flow challenges[6] - Operating cash flow for 2023 was a net outflow of RMB 297,099 thousand, compared to a net outflow of RMB 176,368 thousand in 2022, indicating a significant increase in cash used in operations[9] - Cash flow from investing activities showed a net inflow of RMB 24,417 thousand in 2023, down from RMB 75,057 thousand in 2022, reflecting reduced asset sales and investments[11] - Cash flow from financing activities resulted in a net inflow of RMB 299,129 thousand in 2023, compared to RMB 118,966 thousand in 2022, primarily due to new bank borrowings of RMB 906,510 thousand[11] - The total cash and cash equivalents at the end of 2023 amounted to RMB 288,460 thousand, an increase from RMB 251,478 thousand at the end of 2022[13] - Total current assets as of December 31, 2023, were RMB 1,756,112, compared to RMB 1,583,664 in 2022, indicating an increase in liquidity[6] - Total liabilities increased to RMB 784,108 in 2023 from RMB 501,078 in 2022, indicating a rise in financial obligations[6] - The company’s equity attributable to owners of the parent was RMB 1,354,996, up from RMB 1,307,591 in 2022, showing a strengthening balance sheet[7] Customer and Market Insights - The group reported significant revenue from major customers, with Customer 1 contributing RMB 333,619,000 and Customer 2 contributing RMB 299,779,000 in 2023[23] - All of the group's revenue was generated from customers in mainland China, indicating a focused operational region[22] - The number of paid customers for the user operation SaaS service decreased to 693 in 2023 from 711 in 2022, including 248 customers from the financial sector[39] - Daily active users for the internet advertising business decreased to 2.32 million in 2023 from 3.69 million in 2022, while monthly active users fell to 3.73 million from 5.66 million[44] - The number of advertising clients served by the internet advertising business was 1,066 in 2023, down from 1,334 in 2022[46] Operational Efficiency - Research and development costs significantly decreased to RMB 44,739 thousand in 2023 from RMB 123,515 thousand in 2022, a reduction of approximately 63.7%[27] - Selling and distribution expenses decreased by 23.8% to RMB 117.7 million, while the percentage of selling and distribution expenses to total revenue increased to approximately 10.7%[56] - Administrative expenses were RMB 115.8 million, a reduction of 42.8% from RMB 202.5 million in 2022, with administrative expenses as a percentage of total revenue decreasing to about 10.6%[58] - The company continues to enhance its advertising technology capabilities through an internet advertising platform that provides automated and customized services for content distribution channels and advertising clients[49] Governance and Compliance - The group has adopted new and revised Hong Kong Financial Reporting Standards, which do not significantly impact the measurement, recognition, or presentation of any items in the financial statements[20] - The group has a single operating segment for management purposes, which simplifies resource allocation and performance evaluation[21] - The group has implemented changes in accounting policies regarding deferred tax assets and liabilities, ensuring compliance with updated standards[24] - The audit committee has reviewed the group's financial performance and consolidated financial statements for the year ending December 31, 2023[84] - The independent auditor's report indicates that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2023[85] Future Outlook - In 2024, global economic uncertainty may impact the growth rate of advertising spending, leading to more conservative digital transformation expenditures by companies[75] - The company aims to provide efficient and precise digital marketing solutions to enhance customer loyalty and support digital transformation for enterprises[74]

Revenue and Growth - Total revenue for the six months ended June 30, 2023, was RMB 708.4 million, representing a 36.8% increase compared to RMB 518.0 million in the same period of 2022[7]. - Internet advertising business revenue reached RMB 617.3 million, compared to RMB 447.9 million in the same period last year[7]. - The user operation SaaS platform business generated revenue of RMB 84.6 million, up from RMB 70.1 million in the first half of 2022, with 519 paying customers as of June 30, 2023[10]. - The internet advertising business generated revenue of RMB 617.3 million, up 37.8% from RMB 447.9 million in the first half of 2022, driven by recovering demand from advertising clients[18]. - Revenue from the SaaS platform business was RMB 84,583,000, up from RMB 70,073,000, indicating a growth of 20.0% year-over-year[93]. - The company expects a revenue growth of 25% for the second half of 2023, driven by new product launches and market expansion[145]. Profitability and Financial Performance - Adjusted profit for the six months ended June 30, 2023, was RMB 24.0 million, compared to an adjusted loss of RMB 58.4 million in the same period of 2022[9]. - The company reported a profit attributable to shareholders of RMB 22.1 million for the first half of 2023, compared to a loss of RMB 62.1 million in the same period of 2022[26]. - The gross profit for the first half of 2023 was RMB 167.0 million, representing a 73.1% increase from RMB 96.4 million in the same period of 2022, with a gross margin of approximately 23.6%[23]. - The net profit for the period was RMB 22,084 thousand, a significant recovery from a net loss of RMB 62,090 thousand in the prior year[77]. - The total comprehensive income for the period amounted to RMB 44,836 thousand, compared to a loss of RMB 31,336 thousand in the previous year[78]. - The gross margin for the first half of 2023 was reported at 40%, a slight increase from 38% in the previous year[145]. User Metrics - The number of daily active users increased to 27.6 million from 20.0 million year-over-year, while monthly active users rose to 447.1 million from 373.1 million[11]. - The number of advertising clients served increased to 690 from 521 year-over-year, reflecting a recovery in advertising budgets[12]. - User data showed a growth of 15% in active users, reaching 3 million by June 30, 2023[145]. - Customer retention rate improved to 85%, reflecting the effectiveness of recent customer engagement strategies[145]. Expenses and Cost Management - Research and development expenses decreased by 54.2% to RMB 32.9 million from RMB 71.9 million in the first half of 2022[20]. - Administrative expenses were reduced by 36.2% to RMB 68.6 million from RMB 107.5 million in the first half of 2022, leading to a decrease in the percentage of administrative expenses to total revenue to approximately 9.7%[25]. - The cost of goods sold for the period was RMB 46,316,000, compared to RMB 16,541,000 in 2022, reflecting a substantial increase[95]. Cash Flow and Financial Position - Cash outflow from operating activities was RMB 150.8 million, significantly higher than RMB 59.3 million in the first half of 2022, primarily due to a substantial increase in trade receivables[28]. - The company had cash and cash equivalents of approximately RMB 191.4 million as of June 30, 2023, compared to RMB 232.5 million as of June 30, 2022[30]. - Trade receivables increased to RMB 420,268,000 as of June 30, 2023, up from RMB 253,812,000 at the end of 2022, with a provision for impairment of RMB 52,288,000[104]. - The company reported a decrease in restricted cash by RMB 2,200 thousand, with no such decrease reported in the previous year[82]. - The company reported a pre-tax profit of RMB 28,284 thousand for the first half of 2023, a turnaround from a loss of RMB (63,759) thousand in the same period of 2022[82]. Shareholder Information and Equity - As of June 30, 2023, the total number of issued shares is 1,076,823,200[54]. - Mr. Chen holds 471,415,829 shares, representing approximately 43.78% of the company's equity[53]. - Major shareholder, China Merchants Yonglong Trust Co., Ltd., holds 454,552,000 shares, accounting for 42.21% of the company's equity[56]. - The company did not declare any interim dividends for the reporting period, consistent with the previous year[98]. Legal and Compliance - The company is currently facing a legal claim with a maximum amount of approximately HKD 61 million, but management believes there are sufficient defenses against this claim[35]. - The company has no pledged assets as of June 30, 2023[36]. - The company has not engaged in any significant investments or acquisitions outside its normal business operations as of June 30, 2023[34]. Strategic Initiatives and Future Outlook - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2024[145]. - A strategic acquisition of a local tech firm is anticipated to enhance the company's service offerings and customer base[145]. - The company has introduced a new subscription model, projected to contribute an additional RMB 200 million in annual revenue[145]. - The company is committed to sustainability initiatives, aiming to reduce operational carbon emissions by 20% by 2025[145].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份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。 DUIBA GROUP LIMITED 兌 吧 集 团 有 限 公 司 （於開曼群島註冊成立之有限公司） 1753 （股份代號： ） 2023 6 30 截 至 年 月 日 止 六 個 月 中 期 業 績 公 告 2023 6 30 截至 年 月 日止六個月的財務及運營資料摘要 財務資料摘要 6 30 截至 月 日止六個月 2023 年 2022年 （未經審核） （未經審核） 人民幣千元 人民幣千元 收入 用戶運營SaaS平台業務 84,583 70,073 互聯網廣告業務 617,343 447,935 其他 6,467 3 合計 708,393 518,011 ...

Financial Performance - In 2022, Duiba Group Limited achieved a revenue growth of 23.2% year-on-year, reaching RMB 1,616.6 million compared to RMB 1,312.5 million in 2021[10]. - The gross profit for 2022 was RMB 309.1 million, down from RMB 370.5 million in 2021, indicating a decline in gross margin due to increased costs in the advertising business[13]. - The adjusted net loss for the year was RMB 31.8 million, a significant increase from an adjusted profit of RMB 12.0 million in 2021, primarily due to rising costs in the internet advertising segment[15]. - The company recorded total revenue of RMB 1,616.6 million for the year ended December 31, 2022, representing an increase of approximately 23.2% compared to RMB 1,312.5 million in 2021[34]. - Internet advertising revenue grew by 25.1% to RMB 1,425.8 million, driven by recovering demand and budget from advertisers, as well as an increase in daily active users from 30.2 million to 36.9 million and monthly active users from 434.4 million to 565.6 million[34]. - The company's gross profit decreased to RMB 309.1 million, down approximately 16.6% from RMB 370.5 million in 2021, with a gross margin of 19.1% compared to 28.2% in 2021[37]. Customer Metrics - As of December 31, 2022, the number of paying customers for the SaaS platform decreased to 711 from 1,190 in 2021, with a retention rate of approximately 57.7%[16]. - The total value of new contracts signed, including renewals, was RMB 138.8 million in 2022, down from RMB 186.7 million in 2021[16]. - The number of paid customers for user operation SaaS services decreased to 711 in 2022 from 1,190 in 2021, with a total contract value of RMB 138.8 million, down from RMB 186.7 million in 2021[24]. - The total number of new contracts signed for user operation SaaS services was 464 in 2022, down from 820 in 2021[24]. Operational Metrics - Daily active users increased to 36.9 million in 2022 from 30.2 million in 2021, while monthly active users rose to 565.6 million from 434.4 million[17]. - The average revenue per billing click under CPC model increased to RMB 0.41 in 2022 from RMB 0.37 in 2021[17]. - The click-through rate decreased to 24.9% in 2022 from 28.6% in 2021[17]. - The number of content distribution channels for internet advertising increased to 5,023 in 2022 from 4,923 in 2021[21]. Expenses and Losses - R&D expenses decreased by 28.1% to RMB 123.5 million in 2022 from RMB 171.8 million in 2021[31]. - Sales and distribution expenses decreased by 3.5% to RMB 154.5 million, with the percentage of total revenue dropping to approximately 9.6% from 12.2% in 2021[38]. - Administrative expenses were RMB 202.5 million, a decrease of 21.6% from RMB 258.4 million in 2021, with the percentage of total revenue falling to approximately 12.5% from 19.7% in 2021[39]. - The company reported a loss attributable to shareholders of RMB 45.9 million for the year, compared to a loss of RMB 11.8 million in 2021, with basic loss per share increasing to RMB 4.4 cents from RMB 1.1 cents[40]. - Operating cash outflow for the year was RMB 176.4 million, significantly higher than RMB 12.0 million in 2021, primarily due to an increase in trade receivables[44]. Assets and Equity - Non-current assets increased to RMB 226.0 million in 2022 from RMB 174.2 million in 2021, indicating growth in long-term investments[13]. - Current assets rose to RMB 1,583.7 million in 2022, compared to RMB 1,391.3 million in 2021, showing improved liquidity[13]. - The total equity as of December 31, 2022, was RMB 1,307.6 million, slightly up from RMB 1,287.0 million in 2021, indicating stability in the company's financial position[13]. - As of December 31, 2022, the company had cash and cash equivalents of approximately RMB 251.5 million, up from RMB 225.7 million in 2021, with no unused bank financing[48]. Future Outlook - The company anticipates recovery in advertising budgets and continued growth opportunities in the SaaS business due to the digital transformation in various industries[10]. - The company plans to continue enhancing its advertising services and expanding its user operation SaaS business in response to the recovering market conditions[37]. - The company aims to procure high-quality traffic from core content channels and expand its client base in various fields to maintain growth momentum in 2023[37]. - The group aims to enhance user loyalty through digital transformation and plans to expand its advertising client base in 2023 following the recovery of advertising budgets[59]. Shareholder and Governance - The group’s five largest customers accounted for 86.8% of total revenue for the fiscal year, with the largest customer contributing 29.7%[68]. - The group’s five largest suppliers represented 56.9% of total procurement, with the largest supplier accounting for 40.5%[70]. - The company has established long-term relationships with major customers and is committed to improving customer experience and service quality[71]. - The board of directors confirmed that there were no significant violations of applicable laws and regulations affecting the company's operations as of December 31, 2022[78]. - The company has adhered to corporate governance principles and will continue to review and monitor its governance practices[163]. - The board consists of independent non-executive directors who provide impartial opinions on the group's strategy, performance, and control issues, ensuring the interests of all shareholders are considered[175]. Employee Relations - The group’s employee count decreased to 748 as of December 31, 2022, down from 935 in the previous year, with employee benefit expenses amounting to RMB 292.1 million[56]. - The company has not experienced any labor disputes or strikes during the reporting period, indicating good employee relations[74]. - The company provides competitive salaries and additional benefits to employees, including continuous education and training[73]. - The company aims to create favorable conditions to attract more female talent, thereby gradually increasing the proportion of female employees in senior management positions[185]. Legal and Compliance - The group is currently facing a legal claim with a maximum amount of approximately HKD 61 million, but management believes there are sufficient defenses against this claim[53]. - The company has maintained a public float of at least 25% of its total issued shares, complying with the minimum public holding requirement[158]. - The audit committee has reviewed the company's annual performance and consolidated financial statements for the year ended December 31, 2022[160]. - Ernst & Young has been appointed as the auditor for the reporting period and will be proposed for reappointment at the annual general meeting[161]. Share Options and Incentives - The company has implemented multiple employee incentive plans, including stock option plans and restricted stock unit plans, to motivate employees and directors[98]. - The maximum number of shares that can be issued under the share option plan is 111,111,120, representing approximately 10.31% of the total issued shares as of the report date[117]. - The share option plan is valid for ten years from the listing date, with approximately six years remaining as of the report date[117]. - The stock unit incentive plan was adopted on November 1, 2018, targeting eligible participants with at least 36 to 48 months of service[128]. - The total number of stock units granted to employees under the stock unit incentive plan was 65,000, which can be exercised immediately[129].