第二章 審計與風險管理委員會的組成及工作機構 中國鐵建高新裝備股份有限公司 董事會審計與風險管理委員會工作細則 第一章 總 則 第六條 審 計 與 風 險 管 理 委 員 會 委 員 任 期 與 董 事 任 期 一 致。委 員 任 期 屆滿，連選可以連任。 委 員 任 期 屆 滿 前，除 非 出 現 法 律 法 規、《公 司 章 程》或 本 細 則 規 定的不得任職之情形，不得被無故解除職務。 委員任期屆滿前，如不再擔任公司董事職務，則自動失去委員 資格，並由董事會根據前述第四條的規定補足委員人數。 第四條 審計與風險管理委員會由3名非執行董事組成，其中獨立非執 行 董 事 應 佔 多 數，且 委 員 中 至 少 有 一 名 獨 立 非 執 行 董 事 具 備 適 當 專 業 資 格 或 具 備 適 當 的 會 計 或 相 關 的 財 務 管 理 專 長。審 計與風險管理委員會設召集人一名，由獨立非執行董事擔任。 審計與風險管理委員會委員和召集人人選由董事長商有關董 事後提出，由董事會審議決定。 – 1 – 第一條 為 完 善 中 國 鐵 建 高 新 裝 備 股 份 有 限 公 司（以 下 簡 稱「公 司」） ...

（於中華人民共和國註冊成立的股份有限公司） M： 相 關董事會委員會成 員 中國昆明，2025年7月30日 （股份代號：1786） 董事名單與角色和職能 中國鐵建高新裝備股份有限 公 司（「本公司」）董 事 會（「董事會」）成 員及其各自於 董 事會及董事會委員會的角色及職能載列如下： 委員會 董 事 戰略與ESG 委員會 審計與風險 管理委員會 提名委員會 薪酬與考核 委員會 執行董事 童普江 （董事長） C M M 向大強 （總經理） 陳永祥 莫 斌 非執行董事 呂 晶 M 謝華剛 M 獨立非執行董事 吳雲天 M M C 納鵬傑 M C M 朱 晴 M M C 附註： C： 相 關董事會委員會主 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 因 本 公 告 全 部 或 任 何 部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1786） 提名委員會組成人員變動； 及 戰略與投資委員會更名以及調整其職責 中 國 鐵 建 高 新 裝 備 股 份 有 限 公 司（「本公司」）董 事 會（「董事會」）欣 然 宣 佈，本 公 司 第 三屆董事會第二十次會議於二零二五年七月 三 十 日 舉 行，審 議 並 通 過（其 中 包 括）， 有 關(1)本 公 司 提 名 委 員 會（「提名委員會」）組 成 人 員 變 動；及(2)本公司戰略與投資 委 員 會（「戰略與投資委員會」）更 名 以 及 調 整 其 職 責 的 董 事 會 決 議 案。 (1) 提名委員會組成人員變動 根 據《中 華 人 民 共 和 國 公 司 法》《上 市 公 司 章 程 指 引》等 法 律 法 規、部 門 規 章 以 及《中 國 鐵 建 高 新 裝 ...

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 因 本 公 告 全 部 或 任 何 部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1786） 公 告 (1)建議修訂公司章程； (2)建議修訂股東會議事規則；及 (3)建議修訂董事會議事規則 此 公 告 乃 中 國 鐵 建 高 新 裝 備 股 份 有 限 公 司（「本公司」）根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）第13.51(1)條發出。 為 維 護 本 公 司、本 公 司 股 東、職 工 和 債 權 人 的 合 法 權 益，規 範 本 公 司 的 組 織 和 行 為，完 善 中 國 特 色 現 代 企 業 制 度，根 據《中 華 人 民 共 和 國 公 司 法》（「《公司法》」）《中 華 人 民 共 和 國 證 券 法》《上 市 公 司 章 程 指 引》《上 市 公 司 股 東 會 規 則》及 上 市 規 則 等 法 ...

金十期货5月21日讯，伦敦金属交易所（LME）有色金属库存及变化如下： 1. 铜库存168825吨，减少1925吨。 2. 铝库存388900吨，减少2025吨。 3. 镍库存201786吨，减少312吨。 4. 锌库存157875吨，增加1150吨。 5. 铅库存282125吨，增加36375吨。 6. 锡库存2670吨，增加15吨。 LME有色金属库存日报 ...

Financial Performance - In 2024, the company achieved a revenue of RMB 3,119.62 million, a year-on-year increase of 0.63%[13] - Gross profit for 2024 was RMB 596.16 million, representing a significant year-on-year increase of 40.00%[6] - The company reported a pre-tax profit of RMB 140.51 million, up from RMB 137.09 million in 2023, indicating a stable performance[6] - The sales revenue from machinery equipment decreased by RMB 407.61 million, a decline of 28.32%, primarily due to unfulfilled orders[14] - Revenue from parts sales increased by RMB 69.16 million, a growth of 8.35%, reflecting improved market penetration[14] - Maintenance revenue for railway machinery surged by RMB 322.45 million, marking a 57.17% increase, achieving a historical high[16] - Revenue from railway line maintenance services rose by RMB 19.06 million, a growth of 12.52%, expanding service coverage[16] - The group's total gross profit for the year ended December 31, 2024, was RMB 596.16 million, an increase of RMB 170.34 million or 40.00% compared to RMB 425.82 million in the same period last year[18] - The gross profit margin for the year ended December 31, 2024, was 19.11%, up 5.37 percentage points from 13.74% in the previous year[18] - Other income for the year ended December 31, 2024, was RMB 43.89 million, a significant increase of RMB 36.00 million or 456.27% from RMB 7.89 million in the previous year[19] - The group's pre-tax profit for the year ended December 31, 2024, was RMB 140.51 million, an increase of RMB 3.42 million or 2.49% compared to RMB 137.09 million in the same period last year[27] - The profit attributable to the owners of the company for the year ended December 31, 2024, was RMB 128.21 million, a decrease of RMB 16.83 million or 11.60% from RMB 145.04 million in the previous year[31] Assets and Liabilities - The total assets of the company reached RMB 9,150.88 million, an increase from RMB 9,058.90 million in 2023[7] - The total liabilities decreased to RMB 3,076.60 million from RMB 3,182.55 million, indicating improved financial stability[7] - The group had no interest-bearing debt as of December 31, 2024[41] - The group's leverage ratio as of December 31, 2023, was 18.30%, projected to increase to 19.07% by December 31, 2024[43] - As of December 31, 2024, the group reported no significant contingent liabilities[44] Research and Development - The company launched 16 new products and has 6 products under development, enhancing its technological innovation capabilities[11] - The group's research and development expenses for the year ended December 31, 2024, were RMB 237.95 million, a decrease of RMB 121.00 million or 33.71% from RMB 358.95 million in the previous year[22] - The company is investing $200 million in R&D for new technologies aimed at enhancing operational efficiency and product offerings[56] Market and Growth Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[56] - Market expansion efforts include entering three new international markets, expected to contribute an additional $50 million in revenue by the end of 2024[56] - The company has completed a strategic acquisition of a competitor for $150 million, enhancing its market position and product portfolio[56] - A new product line is set to launch in Q2 2024, anticipated to generate $100 million in sales within the first year[56] Corporate Governance - The company has established a management system with clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management, ensuring effective checks and balances[64] - The company has adhered to the corporate governance code and continuously improved its governance policies to protect and enhance shareholder interests[63] - The board of directors consists of nine members, including one chairman and three independent directors[73] - The board has established mechanisms to ensure the independence of directors, with one-third of the board being independent non-executive directors[78] - The company has confirmed that all new directors understand their responsibilities as directors of a listed issuer[76] - The board will conduct an annual review of its independence assessment mechanism, with satisfactory results reported for the year ending December 31, 2024[78] - The company emphasizes the importance of board independence for effective corporate governance and decision-making[78] Risk Management - The Audit and Risk Management Committee is responsible for overseeing internal controls, risk management, and financial data disclosure[96] - The Audit and Risk Management Committee conducted a review of the risk management and internal control systems, finding them effective and sufficient[98] - The company has established a comprehensive risk management and internal control system, ensuring effective prevention of significant risk events[137] - The board of directors conducts an annual review of the effectiveness of the risk management and internal control systems[138] - The company has implemented a mechanism for identifying and managing insider information to protect investors' rights[139] Employee and Director Information - The company has provided liability insurance for its directors during the reporting period[191] - The company emphasizes employee training and development, with annual training plans based on employee needs[193] - As of December 31, 2024, the company's total employee count is 1,912, with an annual total compensation (including salaries and benefits) of approximately RMB 450.14 million[193] - The board currently consists of nine members, including one female director, aligning with the company's diversity policy[127] - As of December 31, 2024, the percentage of female employees, including senior management, is approximately 20.18%[127] Shareholder Information - The company expects to distribute approximately 20% to 40% of its distributable profits as cash dividends annually[148] - The net profit attributable to the parent company's shareholders for the year ending December 31, 2024, is projected to be RMB 128,205,804.33[148] - After allocating 10% of the net profit for statutory surplus reserves, the distributable profit for shareholders is RMB 787,189,578.06[150] - A cash dividend of RMB 0.028 per share (tax included) will be distributed, totaling RMB 42,556,752.00[150] Supplier and Customer Information - Sales to China Railway Group Limited and its subsidiaries accounted for approximately 64.12% of the total operating revenue for the year, while revenue from the top five customers represented about 26.83% of total revenue[176] - The company's largest supplier accounts for approximately 11.86% of total purchases, with the top five suppliers accounting for about 27.55% of costs[162] Compliance and Legal Matters - The company has made several amendments to its articles of association in response to regulatory requirements and operational changes over the years[136] - The company has not established any long-term incentive plans for directors as of December 31, 2024[194] - There are no significant transactions or contracts involving directors or supervisors that could affect the company's business during the reporting period[188]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported a revenue of RMB 3,119.62 million, representing a year-on-year increase of 0.63%[12]. - Gross profit for the same period was RMB 596.16 million, showing a significant year-on-year increase of 40.00%[10]. - The company achieved a pre-tax profit of RMB 140.51 million, compared to RMB 137.09 million in the previous year[5]. - The group's gross profit for the year ended December 31, 2024, was RMB 596.16 million, an increase of RMB 170.34 million or 40.00% from RMB 425.82 million year-on-year, with a gross profit margin of 19.11%, up 5.37 percentage points from 13.74%[17]. - The group's net cash flow from operating activities for the year ended December 31, 2024, was RMB 283.18 million, attributed to enhanced collection of receivables[34]. - The group reported a profit attributable to owners of the company of RMB 128.21 million for the year ended December 31, 2024, a decrease of RMB 16.83 million or 11.60% from RMB 145.04 million in the previous year[30]. - The company's net profit attributable to shareholders for the year ending December 31, 2024, is RMB 128,205,804.33[147]. - The company plans to distribute cash dividends of RMB 0.028 per share, totaling RMB 42,556,752.00, based on a total share capital of 1,519,884,000 shares[149]. - After allocating 10% of the net profit for statutory surplus reserves, the distributable profit for shareholders is RMB 787,189,578.06[149]. - The company expects to distribute approximately 20% to 40% of its distributable profits as cash dividends annually[147]. Market and Product Development - The company launched 16 new products and has 6 products currently under development, marking a significant enhancement in technological innovation capabilities[10]. - Revenue from parts sales increased by RMB 69.16 million, a growth of 8.35%, reflecting improved market penetration[13]. - Revenue from railway maintenance machinery repair surged by RMB 322.45 million, a remarkable increase of 57.17%[15]. - The company successfully entered new international markets, including Uzbekistan and Algeria, enhancing its global footprint[10]. - The company is focused on expanding its market presence and enhancing its product offerings through strategic investments and leadership appointments[57]. - The company aims to build an innovative and service-oriented business model, focusing on specialization, digitization, and globalization to enhance market development and rapid response capabilities[165]. Cost Management and Efficiency - For the year ended December 31, 2024, the group's sales cost was RMB 2,523.46 million, a decrease of RMB 150.69 million or 5.64% compared to RMB 2,674.15 million in the same period last year[16]. - Research and development expenses decreased to RMB 237.95 million, down RMB 121.00 million or 33.71% from RMB 358.95 million in the previous year, due to reduced material costs and completion of certain projects[21]. - The company's financial income increased to RMB 31.09 million, up RMB 16.85 million or 118.33% from RMB 14.24 million in the previous year, due to foreign exchange gains and cash discounts[22]. Governance and Management - The company has established a strong governance framework with experienced independent directors to ensure accountability and strategic direction[55]. - The company has a robust pipeline of new products and technologies under development, aimed at improving operational efficiency and market competitiveness[58]. - The company has established a management system with clear responsibilities among the shareholders' meeting, board of directors, supervisory committee, and management, ensuring effective checks and balances[63]. - The board of directors consists of nine members, including one chairman and three independent directors[72]. - The company appointed Mr. Zhao Hui as the chairman of the board on July 6, 2023, following the resignation of Mr. Liu Feixiang due to age reasons[73]. - The company has a mission to weave a railway network across the land, emphasizing its commitment to safety and quality in machinery production[65]. - The company has adhered to the corporate governance code and continuously improved its governance policies to protect and enhance shareholder interests[62]. Risk Management - The company has established a comprehensive risk management and internal control system, ensuring effective prevention of significant risk events[136]. - The board of directors conducts an annual review of the effectiveness of the risk management and internal control systems[137]. - The company is closely monitoring legislative developments that may impact its operations and compliance with relevant laws and regulations[157]. - The company is exposed to various market risks, including foreign exchange risk and inflation risk in daily operations[44]. - The company aims to mitigate policy risks by enhancing macroeconomic analysis and actively expanding its market presence[46]. Employee and Compensation - As of December 31, 2024, the company's total employee count is 1,912, with an annual total compensation (including salaries and benefits) of approximately RMB 450.14 million[192]. - The total compensation for senior management in 2024 includes one individual earning over RMB 1 million, four earning between RMB 500,000 and RMB 1 million, and two earning below RMB 500,000, totaling seven individuals[129]. - The company has provided appropriate training for directors, including updates on the latest changes in domestic laws and regulations[82]. Shareholder Information - The company has confirmed that all directors and supervisors have complied with the standards for securities trading during the reporting period[69]. - Shareholders holding more than 10% of the company's shares can request the board to convene an extraordinary general meeting[139]. - Shareholders holding over 3% of the shares can propose temporary motions at the general meeting[141]. - The proposed dividend is subject to approval at the 2025 annual general meeting of shareholders, with an expected payment date around August 22, 2025[166].

Financial Performance - In the first half of 2024, the company's total revenue reached RMB 1,722.45 million, an increase of 7.43% compared to the same period last year[6]. - The profit attributable to the owners of the company was RMB 61.35 million, representing a growth of 37.59% year-on-year[5]. - Sales revenue from machinery equipment was RMB 744.26 million, a decrease of 19.90% year-on-year due to some products being in the production phase and not yet delivered[7]. - Parts sales increased by RMB 158.06 million, up 43.06% year-on-year, indicating strong growth in the domestic railway market[7]. - The maintenance business for road machinery saw a significant increase in revenue, rising by RMB 142.46 million, or 72.08% year-on-year[7]. - Gross profit for the first half of 2024 was RMB 322.59 million, up 13.81% from RMB 283.44 million in the previous year, with a gross margin of 18.73%[12]. - Other income surged to RMB 25.09 million, a remarkable increase of 546.69% compared to RMB 3.88 million last year, primarily due to tax incentives[13]. - For the six months ended June 30, 2024, the group's profit before tax was RMB 61.18 million, an increase of RMB 12.34 million or 25.27% compared to RMB 48.84 million in the same period last year[20]. - Basic earnings per share increased from RMB 0.03 to RMB 0.04 for the six months ended June 30, 2024[25]. - Net profit for the first half of 2024 was RMB 61,372,454.16, an increase of 36.14% from RMB 45,065,994.40 in the first half of 2023[75]. Cash Flow and Liquidity - As of June 30, 2024, the group's cash and cash equivalents amounted to RMB 1,047.73 million, with a net decrease of RMB 409.86 million primarily due to increased cash payments for goods and services[26]. - The net cash outflow from operating activities for the six months ended June 30, 2024, was RMB -246.32 million, mainly due to increased cash payments for goods and services[27]. - The net cash outflow from investing activities was RMB -183.87 million, primarily for time deposits of RMB 256 million[28]. - The net increase in cash and cash equivalents for H1 2024 was -RMB 409.86 million, compared to -RMB 12.76 million in H1 2023, indicating a worsening liquidity position[83]. - The ending balance of cash and cash equivalents as of June 30, 2024, was RMB 1.05 billion, down from RMB 1.15 billion at the end of June 2023, reflecting a decrease of approximately 8.9%[83]. Assets and Liabilities - As of June 30, 2024, the total assets of China Railway Construction High-tech Equipment Co., Ltd. amounted to RMB 9,117,499,708.58, an increase from RMB 9,058,899,329.31 as of December 31, 2023, reflecting a growth of approximately 0.65%[62]. - The company's total current assets as of June 30, 2024, were RMB 6,789,229,862.63, slightly down from RMB 6,807,889,093.90 at the end of 2023, indicating a decrease of about 0.27%[61]. - The company's total liabilities as of June 30, 2024, were RMB 3,068,288,842.22, a decrease from RMB 3,166,850,019.15 at the end of 2023, showing a reduction of about 3.11%[64]. - Total equity increased to RMB 6,018,708,633.79, up 2.4% from RMB 5,876,345,242.48 as of December 31, 2023[66]. Research and Development - Research and development expenses rose to RMB 133.08 million, an increase of 9.60% year-on-year, reflecting the company's commitment to enhancing its R&D capabilities[16]. - Research and development expenses for the first half of 2024 amounted to RMB 133,077,479.13, compared to RMB 121,425,833.80 in the first half of 2023, reflecting an increase of 9.63%[74]. Corporate Governance - The board of directors consists of nine members, including four executive directors and five non-executive directors[45]. - The audit and risk management committee is composed of three independent non-executive directors, responsible for overseeing internal controls and financial disclosures[47]. - On May 31, 2024, the company received resignation reports from Zhao Hui and Bai Yunfei due to work changes, leading to a restructuring of the board[48]. - Tong Pujiang was appointed as the chairman of the board after the resignation of Zhao Hui[48]. - The company appointed Xiang Daqiang as the new general manager following the resignation of Zhou Huipeng on May 31, 2024[50]. Market Strategy - The company plans to deepen reforms and focus on technological innovation, market expansion, and refined management in the second half of 2024[5]. - The company aims to strengthen quality control and enhance production efficiency to achieve high-quality development[5]. - The company plans to continue focusing on market expansion and new product development to drive future growth[78]. - The company is actively pursuing new technology developments to improve operational efficiency and product quality[88]. Risk Management - The group is subject to various market risks, including foreign exchange risk and inflation risk in daily operations[35][36]. - The company has strengthened its internal audit services and focused on closing the loop on internal control deficiencies during the reporting period[51]. - The company has implemented special audits on high-risk events to enhance risk management and operational efficiency[51]. Shareholder Information - The company distributed a cash dividend of RMB 0.03 per share for the fiscal year 2023, totaling RMB 456 million[57]. - The board of directors has proposed not to distribute an interim dividend for the six months ending June 30, 2024[58]. - Major shareholder China Railway Construction Corporation holds 968,224,320 shares, representing 63.70% of the total issued share capital[55]. Accounting and Financial Reporting - The financial statements for the first half of 2024 were approved by the board of directors on August 23, 2024, ensuring compliance with regulatory standards[95]. - The financial statements accurately reflect the consolidated and parent company financial position as of June 30, 2024, and the operating results and cash flows for the six months ended on that date[100]. - The company recognizes revenue when the company fulfills its performance obligations, meaning the customer gains control of the related goods or services[181].

Financial Performance - For the first half of 2024, the company's operating revenue reached RMB 1,722.45 million, an increase of 7.43% compared to the same period last year[4]. - The profit attributable to shareholders for the first half of 2024 was RMB 61.35 million, representing a growth of 37.59% year-on-year[3]. - The sales revenue from machinery equipment was RMB 744.26 million, a decrease of 19.90% year-on-year due to some products being in the production phase and not yet delivered[5]. - The sales revenue from spare parts increased by RMB 158.06 million, a growth of 43.06% compared to the previous year, indicating strong performance in the domestic railway market[5]. - The revenue from maintenance services for railway machinery increased by RMB 142.46 million, a growth of 72.08% year-on-year, reflecting enhanced service capabilities[5]. - The gross profit for the first half of 2024 was RMB 322.59 million, an increase of 13.81% from RMB 283.44 million in the same period last year, with a gross margin of 18.73%[10]. - Other income rose significantly to RMB 25.09 million, a 546.69% increase from RMB 3.88 million in the previous year, primarily due to tax incentives in the advanced manufacturing sector[11]. - For the six months ended June 30, 2024, the group's profit before tax was RMB 61.18 million, an increase of RMB 12.34 million or 25.27% compared to RMB 48.84 million in the same period last year[18]. - Basic earnings per share increased from RMB 0.03 to RMB 0.04 for the six months ended June 30, 2024[23]. - The company reported a total of RMB 399,002,647.61 in other comprehensive income for the first half of 2024[91]. Cash Flow and Liquidity - As of June 30, 2024, the group's cash and cash equivalents amounted to RMB 1,047.73 million, with a net decrease of RMB 409.86 million primarily due to increased cash payments for goods and services[24]. - The net cash outflow from operating activities for the six months ended June 30, 2024, was RMB -246.32 million, mainly due to increased cash payments for goods and services[25]. - The net cash outflow from investing activities was RMB -183.87 million, primarily for time deposits of RMB 256 million[26]. - The company's cash and cash equivalents decreased to RMB 1,303,734,430.05 from RMB 1,457,596,638.25, reflecting a decline of about 10.57%[59]. - Cash and cash equivalents at the end of June 2024 were 1,047,734,430.05 RMB, down from 1,150,393,896.50 RMB at the end of June 2023, reflecting a decrease of approximately 8.9%[81]. - The net cash flow from financing activities for the first half of 2024 is negative RMB 444,620,332.21, a significant decline from a positive cash flow of RMB 17,073,873.12 in the first half of 2023[84]. Assets and Liabilities - As of June 30, 2024, the total assets of China Railway Construction High-tech Equipment Co., Ltd. amounted to RMB 9,117,499,708.58, an increase from RMB 9,058,899,329.31 as of December 31, 2023, reflecting a growth of approximately 0.65%[59]. - The total liabilities as of June 30, 2024, were RMB 3,068,288,842.22, a decrease from RMB 3,166,850,019.15, showing a reduction of about 3.10%[62]. - The company's total current liabilities decreased to RMB 3,003,513,305.48, down 4.0% from RMB 3,129,251,177.10[69]. - Total equity increased to RMB 6,018,708,633.79, up 2.4% from RMB 5,876,345,242.48 as of December 31, 2023[64]. - The total equity attributable to the parent company for the first half of 2024 is RMB 5,743,603,184.30, compared to RMB 5,779,991,658.11 in the same period of 2023, reflecting a decrease of approximately 0.63%[90]. Shareholder Information - As of June 30, 2024, the total issued share capital of the company is 1,519,884,000 shares, with 63.70% held by China Railway Construction Corporation[51]. - Major shareholder China Railway Construction Corporation holds 968,224,320 shares, representing 63.70% of the total issued share capital[53]. - The public float consists of 531,900,000 H shares, accounting for 35.00% of the total issued share capital[51]. - The company distributed a cash dividend of RMB 0.03 per share for the fiscal year 2023, totaling RMB 456 million[55]. - The board of directors has proposed not to distribute an interim dividend for the six months ending June 30, 2024[56]. Governance and Management - The board of directors consists of nine members, including four executive directors and five non-executive directors[43]. - The audit and risk management committee is composed of three independent non-executive directors, responsible for internal control and financial data disclosure[45]. - The company has undergone several board changes, with Zhao Hui resigning as executive director and chairman, and Tong Pujiang being appointed as the new chairman[46]. - The company’s governance structure includes a supervisory board with three members, ensuring oversight of the board's activities[44]. - The company has a robust internal control system, with the audit department focusing on financial, operational, compliance monitoring, and risk management, ensuring timely rectification of internal control deficiencies[49]. Research and Development - Research and development expenses increased by RMB 11.65 million to RMB 133.08 million, a growth of 9.60%, reflecting the company's commitment to enhancing its R&D capabilities[14]. - Research and development expenses for the first half of 2024 were RMB 133,077,479.13, an increase from RMB 121,425,833.80 in the same period of 2023[72]. - Research and development expenditures are categorized into research phase and development phase, with research phase costs expensed as incurred[162]. Risk Management - The company has continuously deepened its risk management efforts, focusing on high-risk events and enhancing internal control processes[49]. - The group did not have any interest-bearing debt or significant contingent liabilities as of June 30, 2024[30][32]. - The company has not entered into any hedging transactions to mitigate foreign exchange risks as of June 30, 2024[34]. Accounting Policies - The financial statements for the first half of 2024 were approved by the board of directors on August 23, 2024[93]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, reflecting the company's financial position as of June 30, 2024, and the operating results for the six months ending June 30, 2024[98]. - Deferred tax assets and liabilities are calculated based on the temporary differences between the tax bases of assets and liabilities and their carrying amounts[195]. - The company recognizes right-of-use assets for leases, excluding short-term leases and low-value asset leases, measured at cost[200].

Financial Performance - Revenue for 2023 reached RMB 3,099,977 thousand, a 9.8% increase from RMB 2,821,918 thousand in 2022[3] - Gross profit decreased to RMB 486,875 thousand, down 26.7% from RMB 663,248 thousand in the previous year[3] - Profit before tax increased to RMB 137,088 thousand, a 10.3% rise compared to RMB 123,666 thousand in 2022[3] - The company reported a basic earnings per share of RMB 0.10, up from RMB 0.08 in 2022[3] - The company’s net profit attributable to owners was RMB 145.04 million, an increase of 25.42% from RMB 115.64 million in the previous year[46] - The company achieved a revenue growth of 9.85% year-on-year and a net profit growth of 25.48% in 2023[153] Assets and Liabilities - Total assets grew to RMB 9,058,899 thousand, up 5.6% from RMB 8,577,712 thousand in 2022[4] - Total liabilities increased to RMB 3,182,554 thousand, a 19.6% rise from RMB 2,658,752 thousand in the previous year[4] - The net assets decreased slightly to RMB 5,876,345 thousand from RMB 5,918,961 thousand in 2022[4] - The group's leverage ratio increased from 16.54% as of December 31, 2022, to 22.34% as of December 31, 2023[63] Revenue Sources - The sales revenue from machinery equipment increased by RMB 236.4 million, a growth of 19.65% compared to the previous year[29] - The sales revenue from spare parts rose by RMB 129 million, marking an 18.46% increase year-on-year[23] - The railway maintenance service revenue decreased by RMB 86.51 million, a drop of 36.24% compared to the previous year, attributed to adjustments in business direction[38] Costs and Expenses - The cost of sales for the year was RMB 2,613.1 million, up 21.05% from RMB 2,158.67 million in the previous year, primarily due to international supply chain disruptions and rising procurement costs[26] - Research and development expenses increased by RMB 97.9 million to RMB 358.95 million, reflecting a growth of 37.5% as the company continued to enhance its R&D capabilities[42] - The company’s other income decreased by RMB 20.6 million to RMB 7.89 million, a decline of 72.31% compared to RMB 28.49 million in the previous year[31] - The company’s administrative expenses decreased by RMB 14.26 million to RMB 172.26 million, a decline of 7.65% from RMB 186.52 million in the previous year[41] Cash Flow - As of December 31, 2023, the group's cash and cash equivalents amounted to RMB 1,457.6 million, with a net increase of RMB 294.45 million primarily due to increased cash receipts from sales and government compensation for asset relocation[49] - The net cash flow from operating activities for the year ended December 31, 2023, was RMB 86.57 million, mainly attributed to enhanced collection of receivables[50] - The net cash flow from investing activities for the year ended December 31, 2023, was RMB 244.81 million, with cash inflows primarily from the disposal of fixed assets and other long-term assets totaling RMB 267.64 million[51] Corporate Governance - The company has a strong emphasis on corporate governance with independent directors bringing diverse expertise from finance and engineering sectors[92][94] - The board consists of nine members, including one female director, ensuring a balanced and diverse composition[183] - The audit committee and remuneration committee are chaired by independent non-executive directors, enhancing governance[136] - The company has established a formal and transparent remuneration system to oversee the implementation of its compensation policies[163] - The company confirmed compliance with corporate governance codes and disclosed the corporate governance report for the fiscal year 2022[166] Management and Strategy - The company aims to enhance core competitiveness and brand influence while exploring diversified revenue paths[19] - The management team includes experienced professionals with extensive backgrounds in engineering and finance, enhancing the company's operational capabilities[81][84][91] - The company is focused on high-end equipment research and manufacturing, leveraging 27 years of industry experience from its chairman[81] - The company is actively involved in the development of new technologies and products to strengthen its competitive position in the market[81][88] - The company aims to enhance management efficiency and corporate governance standards through continuous improvement of its governance system and risk management practices[112] Product Development - The company launched 7 new products and upgraded 11 existing products in 2023[16] - The company has a focus on technological innovation and product development to maintain its competitive edge in the railway maintenance machinery sector[107] - The company focuses on original innovation, integrated innovation, and technology absorption to strengthen its leading position in the domestic railway maintenance machinery industry[116] Auditor and Compliance - The company has changed its auditor from Deloitte to Lixin CPA, which will audit the financial statements according to Chinese accounting standards for the year ending December 31, 2022[79] - The company has engaged Lixin CPA as its auditor for the fiscal year 2023[193] - The board will conduct an annual review of its independence assessment mechanism[136] Training and Development - The company has implemented a training program for directors, focusing on the latest changes in domestic laws and regulations[140] - The company confirmed that all directors received no less than 15 hours of relevant professional training during the reporting period[198]