Financial Performance - The company reported a significant increase in revenue, achieving a total of RMB 1.2 billion, representing a year-on-year growth of 15%[3]. - Total operating income for 2024 was approximately RMB 709.3 million, a decrease of 50.0% compared to RMB 1,419.3 million in 2023[42]. - Gross profit for 2024 was RMB 32.1 million, down 77.3% from RMB 141.7 million in 2023[42]. - The total profit for 2024 was approximately RMB -151.1 million, compared to RMB -38.8 million in 2023, representing a decline of 289.4%[42]. - Net profit for 2024 was approximately RMB -115.2 million, a significant drop from RMB -28.6 million in 2023, indicating a 302.8% increase in losses[42]. - The net profit attributable to owners of the parent company for 2024 was approximately RMB -112.0 million, compared to RMB -30.1 million in 2023, reflecting a 272.1% increase in losses[42]. - The sales profit margin for the national concrete and cement-based products industry was only 2.59% in 2024, a decrease of 0.82 percentage points year-on-year, indicating a tough market environment[48]. - The Group recorded a net loss of approximately RMB 115.2 million for 2024, compared to a net loss of RMB 28.6 million in 2023[55]. Market and Customer Growth - User data indicates a rise in active customers to 500,000, up from 400,000 in the previous year, marking a 25% increase[3]. - The company projects a revenue growth target of 20% for the next fiscal year, aiming for RMB 1.44 billion[3]. - Market expansion plans include entering three new provinces in China by the end of 2025, targeting a 30% increase in market presence[3]. - The proportion of income from non-concrete businesses increased from approximately 7.4% in 2023 to approximately 10.5% in 2024[63]. - The Group signed new non-concrete business sales contracts exceeding RMB 350 million in 2024[63]. Product Development and Innovation - New product launches include a high-performance concrete mix that is expected to capture 10% of the market share within the next two years[3]. - The company is investing RMB 50 million in R&D for innovative construction materials, focusing on sustainability and efficiency[3]. - The company has developed phosphogypsum multi-solid waste cementitious materials and invested in pilot production lines for phosphogypsum artificial stone and permeable bricks[30]. - New products and businesses accounted for 24% of newly signed sales contracts in 2024, with significant contributions from green building materials[76]. - The Group laid out an accelerator production line with an annual capacity of 5,000 tons and completed the market promotion of waterborne coatings[74]. Strategic Initiatives and Governance - The company has implemented a new corporate governance strategy to enhance transparency and accountability, aligning with the latest Hong Kong Listing Rules[3]. - The management highlighted the importance of the "14th Five-Year Plan" in shaping future growth strategies and aligning with national economic goals[3]. - The company plans to focus on deepening reforms and enhancing corporate governance to improve management levels in 2025[34]. - The Group aims to become a leader in the green building materials sector, focusing on the comprehensive utilization of industrial solid waste and urban construction waste[155]. Environmental and Sustainability Efforts - The company focused on green and low-carbon transformation and upgrading, as well as cost reduction and efficiency improvements[26]. - In 2024, the company achieved direct benefits totaling RMB27.87 million from its new energy system, which included grid-connected electricity sales and charging income, while reducing carbon dioxide emissions by over 8,500 tons[30]. - The company successfully passed green carbon footprint certification and became the first "zero-carbon factory" and "carbon neutrality" certified enterprise in the ready-mixed concrete industry in the southwest region[30]. - The Group is committed to integrating ESG concepts into daily management and developing zero-carbon industrial parks[162]. Challenges and Market Conditions - The construction industry saw a year-on-year decline of 1.9% in fixed asset investment, and the real estate sector experienced a significant drop of 10.8%[26]. - Yunnan Province's fixed asset investment (excluding rural households) decreased by 7.7% year-on-year, with infrastructure investment down by 4.0% and transportation investment down by 13.0%[26]. - The concrete industry faced "shrinking demand, fierce competition, downward average prices, underperformed payment collection, and pressure on profits," marking a historical low point in development[26]. - Sales volume of ready-mixed concrete declined by approximately 49.6% compared to 2023, leading to a total operating income decrease of about 50.0%[29]. Leadership and Management - Mr. Li Zhangjian, the chairman, has extensive experience in the construction materials field, having led over 20 scientific and technological projects since 2004[180]. - Mr. Zhang Long has been with the company since January 2017, holding various positions including general manager and deputy secretary of the Party Committee[189]. - Ms. Wang Fang joined the company in December 2023 and was appointed as an executive director on May 30, 2024[195]. - The Company was recognized as a national High-Tech Enterprise for the third consecutive time in March 2024[169]. Financial Position and Assets - As of December 31, 2024, total assets were approximately RMB 3,883.4 million, a decrease of 12.8% from RMB 4,455.8 million at the end of 2023[93]. - Total liabilities as of December 31, 2024, were approximately RMB 2,680.2 million, down from RMB 3,135.6 million in 2023[94]. - The total borrowings increased to approximately RMB 616.8 million in 2024 from RMB 437.2 million in 2023, all of which were bank borrowings[95]. - The interest coverage ratio for 2024 was -6.4, compared to -1.0 in 2023, indicating significant losses during the reporting period[96].

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 709.3 million, a decrease of 50.0% compared to RMB 1,419.3 million in 2023[2] - Gross profit fell to RMB 32.1 million, down 77.3% from RMB 141.7 million in the previous year[2] - The total loss for the year was RMB 151.1 million, representing a 289.4% increase in losses compared to a loss of RMB 38.8 million in 2023[2] - Net loss attributable to shareholders was RMB 112.0 million, a 272.1% increase from RMB 30.1 million in 2023[2] - Basic earnings per share decreased to RMB -0.25, compared to RMB -0.07 in the previous year, reflecting a decline of 257.1%[2] - The total profit for 2024 was approximately RMB -151.1 million, compared to RMB -38.8 million in 2023[32] - Net profit for 2024 was approximately RMB -115.2 million, a decrease of about RMB 86.6 million or 302.8% from 2023[47] Revenue Breakdown - Sales of ready-mixed concrete and related products amounted to RMB 634,011,566.93 in 2024, down from RMB 1,314,634,268.81 in 2023, representing a decline of approximately 52%[22] - Revenue from independent third-party customers was approximately RMB 249.0 million in 2024, a decrease of about 40.4% from RMB 418.1 million in 2023, while the proportion of total revenue increased to 35.1%[35] - The company achieved a significant increase in non-concrete business revenue, rising from approximately 7.4% in 2023 to about 10.5% in 2024, with new contracts exceeding RMB 350 million[36] Operating Costs and Expenses - Total operating costs for 2024 were RMB 819.9 million, down from RMB 1,441.1 million in 2023[5] - Research and development expenses decreased to RMB 8.4 million from RMB 17.1 million, a reduction of 50.9%[5] - Financial expenses for 2024 totaled RMB 21,116,718.20, an increase from RMB 17,660,037.81 in 2023[22] - Other income for 2024 was RMB 4,683,250.50, down from RMB 8,402,423.12 in 2023[22] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 3.88 billion, down from RMB 4.46 billion in 2023[10] - Current liabilities decreased to RMB 2.68 billion from RMB 3.08 billion, a reduction of 13.0%[11] - The company reported a total debt of RMB 3,135,566,190.93 as of the end of the reporting period[13] - Total liabilities as of December 31, 2024, were approximately RMB 2,680.2 million, with a debt-to-asset ratio of 69.0%[49][50] Cash Flow and Financial Health - Cash and cash equivalents decreased to RMB 124.8 million from RMB 322.5 million, a decline of 61.2%[8] - The company had a net cash outflow from operating activities of approximately RMB 99.1 million in 2024, compared to RMB 73.1 million in 2023[53] - The company experienced continuous losses for two consecutive years (2023 and 2024) and had RMB 67.4986 million in funds frozen due to litigation[19] Market and Operational Strategy - The company plans to enhance market development and improve debt management to address ongoing financial challenges[19] - The company plans to enhance its operational management by promoting mixed-ownership enterprise reforms and improving internal management mechanisms[69] - The company will strengthen its market operations by expanding both domestic and international markets while developing new green low-carbon building materials[70] Corporate Governance and Compliance - The company has adopted a corporate governance code to enhance its governance structure and ensure effective checks and balances among its governing bodies[73] - The audit committee has reviewed the financial controls and risk management systems for the year ending December 31, 2024[76] Future Outlook and Plans - The company aims for a regional GDP growth target of approximately 5% by 2025, focusing on key tasks related to the construction and building materials industry[68] - The company plans to invest in new energy equipment and green low-carbon upgrades, including the purchase of pure electric transport vehicles[67] - The company plans to enhance debt management by increasing the collection of accounts receivable, targeting to exceed the annual revenue collection for three consecutive years from 2022 to 2024[82] Employee and Training Initiatives - The workforce decreased to 886 employees as of December 31, 2024, down from 972 employees in 2023[54] - The company has implemented training programs for 161 employees, completing over 430 position certificate exchanges in 2024[56] Industry Context - The construction industry in China experienced a fixed asset investment decline of 1.9% in 2024, with the real estate sector down 10.8%[29] - The company was recognized as the only Yunnan enterprise selected for the "2024 Green Industry Sustainable Development Practice Case" by the China Environmental Protection Federation[38] Miscellaneous - The company did not recommend a dividend for the year ending December 31, 2024[26] - The company has not conducted any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[62] - The company has no significant labor disputes affecting normal business operations during the reporting period[57] - The company has approximately RMB 1.585 billion in contracts on hand as of the announcement date, aiming to improve conversion efficiency to drive steady revenue growth[82]

Financial Performance - The company reported a consolidated revenue of RMB 1.2 billion for the first half of 2024, representing a year-on-year increase of 15%[10]. - The net profit attributable to shareholders was RMB 200 million, an increase of 20% compared to the same period last year[10]. - Total operating income for the first half of 2024 was RMB 354.2 million, a decrease of 52.1% compared to RMB 739.8 million in the same period of 2023[27]. - Gross profit for the first half of 2024 was RMB 27.2 million, down 63.3% from RMB 74.2 million in the first half of 2023[27]. - Total profit for the first half of 2024 was a loss of RMB 24.5 million, compared to a loss of RMB 14.3 million in the same period of 2023, representing a decline of 71.3%[27]. - Net profit attributable to owners of the parent company for the first half of 2024 was a loss of RMB 25.5 million, a 96.2% increase in losses compared to a loss of RMB 13.0 million in the first half of 2023[27]. - The company recorded a total profit of approximately RMB -24.5 million for the six months ended June 30, 2024, representing a decrease of 71.3% compared to the corresponding period of 2023[52]. - The net profit for the six months ended June 30, 2024, was approximately RMB -27.9 million, a decrease of 163.2% compared to the same period in 2023, with basic earnings per share at RMB -0.06[52]. Market and Customer Growth - User data showed a growth in active customers by 25%, reaching a total of 500,000 users[10]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of 2025[10]. - The company has established a diversified business landscape focusing on the production of ready-mixed concrete, including ultra-high performance concrete (UHPC) and related products[31]. - The revenue breakdown for the six months ended June 30, 2024, shows ready-mixed concrete and related products accounted for 89.7% of total income[50]. - Other businesses contributed approximately RMB 11.4 million, representing 3.2% of total income during the reporting period[50]. Product Development and Innovation - New product launches in the high-performance concrete segment contributed to a 30% increase in sales volume[10]. - The company is committed to strategic investments and exploring new technologies in construction materials[24]. - The company aims to achieve a 25% reduction in carbon emissions by 2025 as part of its sustainability strategy[10]. - The Group successfully signed contracts for prefabricated concrete components, diversifying its product offerings beyond existing RPC cover plates[46]. - The Group's new waterborne coatings brand "Haonaishi" was officially launched, with a green production base established in Nanhua County, Chuxiong Yi Autonomous Prefecture[46]. - The company has pioneered the use of phosphogypsum to produce "phosphogypsum artificial stone," which is now being processed into various aggregates for concrete production, attracting significant attention in the market[80]. Financial Position and Assets - Total assets as of June 30, 2024, were approximately RMB 4,209.5 million, a decrease of 5.5% from RMB 4,455.8 million at the end of 2023[52]. - Total liabilities as of June 30, 2024, were approximately RMB 2,917.2 million, representing a decrease of 7.0% from RMB 3,135.6 million at the end of 2023[52]. - The total borrowings of the Group were approximately RMB 522.0 million as of June 30, 2024, an increase from RMB 437.1 million at the end of 2023[53]. - Total current assets were approximately RMB 3,882.0 million as of June 30, 2024, down from RMB 4,114.6 million at the end of 2023[53]. - The company reported a short-term borrowing increase to RMB 461,310,656.62 from RMB 384,405,074.51, representing a rise of 19.99%[125]. Sustainability and Environmental Initiatives - The company aims to achieve a 75% comprehensive utilization rate for phosphogypsum by 2025, as part of the provincial strategy for industrial solid waste recycling[71]. - The company will actively participate in the development of regional green low-carbon systems and invest in projects like the construction of distributed photovoltaic power stations[69]. - The Group's new energy electric vehicles have traveled approximately 2.30 million kilometers, reducing comprehensive freight costs by approximately RMB19.00 million and cutting carbon dioxide emissions by approximately 6,600 tons[42]. - The photovoltaic power generation system generated approximately 1.50 million kWh of electricity, saving electricity costs and generating approximately RMB1,000,000 in income from electricity sales, while reducing carbon dioxide emissions by approximately 1,200 tons[42]. - The company has been awarded multiple honors for its green initiatives, including recognition as an "Advanced Enterprise in Green Certification" and inclusion in the "List of Green Manufacturers in Yunnan Province for 2024"[76]. Corporate Governance and Management - The management team includes executive directors Mr. Li Zhangjian and Mr. Zhang Long, among others[24]. - The Group successfully completed the re-election of the Board and the Supervisory Committee, optimizing the composition of special committees and enhancing corporate governance structure[40]. - The Group has been continuously deepening the reform of state-owned enterprises to strengthen subsidiary management since 2024[85]. - The Company established five Board committees since its listing, which were adjusted to four committees on May 30, 2024: Audit and Risk Committee, Nomination Committee, Remuneration and Evaluation Committee, and Strategy and Investment Committee[94]. - The Group has engaged in various corporate culture building activities to enhance employee satisfaction and cohesion, including the "Green Navigation & Innovation Dream" labor union brand[83]. Cash Flow and Financing Activities - For the six months ended June 30, 2024, the net cash outflow from operating activities was approximately RMB 123.1 million, compared to a net cash inflow of approximately RMB 27.6 million for the same period in 2023[54]. - Cash inflow from operating activities amounted to approximately RMB 663.6 million, an increase from approximately RMB 371.2 million in the prior year, while cash outflow increased to approximately RMB 786.7 million from RMB 343.5 million[54]. - Cash flows from operating activities totaled RMB 663,598,526.61, significantly higher than RMB 371,166,947.05 in the first half of 2023[136]. - The net cash flow from financing activities was RMB 100.33 million for the first half of 2024, compared to RMB 17.67 million in the same period of 2023, indicating a significant increase[137]. - The closing balance of cash and cash equivalents decreased to RMB 36.14 million as of June 30, 2024, down from RMB 154.70 million at the end of June 2023, a decline of 76.6%[137]. Strategic Initiatives and Future Plans - The company plans to enhance its operational management and establish a robust operational system to optimize resource allocation and improve efficiency[72]. - The company will focus on high-quality projects and expand its market presence in key provincial projects such as hydropower stations and highway reconstruction[72]. - The company intends to promote new products, including green building materials and the comprehensive utilization of bulk solid waste, through an online and offline marketing system[72]. - The company plans to invest in green and low-carbon development projects, including the establishment of new material production bases and green recycling industrial parks in Yunnan Province[66]. - The company will focus on the comprehensive utilization of phosphogypsum resources, aiming to unlock new market opportunities and create new growth momentum[72].

Financial Performance - Total revenue for the first half of 2024 was RMB 354.2 million, a decrease of 52.1% compared to RMB 739.8 million in the same period of 2023[1] - Gross profit for the first half of 2024 was RMB 27.2 million, down 63.3% from RMB 74.2 million year-on-year[1] - The total loss for the first half of 2024 was RMB 24.5 million, representing a 71.3% increase in losses compared to RMB 14.3 million in the first half of 2023[1] - Net loss for the first half of 2024 was RMB 27.9 million, a significant increase of 163.2% from RMB 10.6 million in the same period of 2023[1] - The net loss attributable to the owners of the parent company was RMB 25.5 million, which is 96.2% worse than the loss of RMB 13.0 million in the first half of 2023[1] - Basic earnings per share for the first half of 2024 was RMB -0.06, compared to RMB -0.03 in the same period of 2023, indicating a 100% decline[1] - The total profit for the first half of 2024 was approximately RMB -24.5 million, a decline of 71.3% year-on-year[28] - Net profit for the six months ended June 30, 2024, was approximately RMB -27.9 million, representing a 163.2% decrease year-on-year[44] Revenue Breakdown - Sales of ready-mixed concrete and related products amounted to RMB 317.70 million, down 55.1% from RMB 704.38 million year-on-year[16] - Revenue from ready-mixed concrete and related products accounted for approximately RMB 317.7 million, representing 89.7% of total revenue[31] - Revenue from independent third-party customers was approximately RMB 104.1 million, a decrease of 50.4% year-on-year[32] - Sales revenue from ready-mixed concrete and related products was approximately RMB 317.7 million, down 54.9% year-on-year, primarily due to a 53.7% decline in sales volume and a 2.6% decrease in average selling price[40] Operating Costs and Expenses - Total operating costs for the first half of 2024 were RMB 391.7 million, compared to RMB 738.6 million in the first half of 2023[3] - Research and development expenses decreased to RMB 6.0 million in the first half of 2024 from RMB 8.9 million in the same period of 2023, a reduction of 32.5%[3] - Management expenses decreased by 17.9% to approximately RMB 33.0 million compared to RMB 40.2 million in the same period last year[45] Assets and Liabilities - Cash and cash equivalents as of June 30, 2024, were RMB 235.2 million, down from RMB 322.5 million at the end of 2023[7] - Accounts receivable as of June 30, 2024, were RMB 3.5 billion, a slight decrease from RMB 3.7 billion at the end of 2023[7] - As of June 30, 2024, total assets amounted to RMB 4,209,484,331.16, a decrease of approximately 5.5% from RMB 4,455,754,161.83 as of December 31, 2023[10] - Non-current assets totaled RMB 327,456,323.77, down from RMB 341,187,280.28, reflecting a decline of about 4.0%[10] - Current liabilities decreased to RMB 2,899,381,697.70 from RMB 3,075,126,718.67, representing a reduction of approximately 5.7%[9] - The total liabilities as of June 30, 2024, were RMB 2,917,219,463.30, down from RMB 3,135,566,190.93, a decrease of about 7.0%[10] - The company's equity attributable to shareholders decreased to RMB 1,214,183,237.94 from RMB 1,239,663,240.96, reflecting a decline of approximately 2.1%[10] Strategic Initiatives - The company is primarily engaged in the research, production, and sales of ready-mixed concrete and related products, indicating a focus on a single operating segment[15] - The company is actively exploring various green low-carbon building material businesses and has signed multiple new material supply contracts[34] - The company plans to focus on green low-carbon transformation and upgrade traditional industries, with investments in regional green low-carbon systems and new energy equipment[56] - The company aims to promote new products and businesses, particularly in green building materials and comprehensive utilization of solid waste, to expand application scenarios and increase utilization volume[59] - The company will strengthen R&D efforts in new products such as phosphogypsum building materials and digital supply chain financial platforms to drive innovation[60] Governance and Compliance - The company has completed the election of the third board and supervisory committee on May 30, 2024, ensuring continuity and stability in governance[68] - The board of directors includes both executive and non-executive members, ensuring diverse oversight[77] - The company adheres to the Hong Kong Stock Exchange regulations for listed companies[76] - The company has adhered to the corporate governance code principles and all applicable code provisions as of June 30, 2024[68] - The audit and risk committee has reviewed the unaudited condensed consolidated interim results for the six months ended June 30, 2024[71] Market Conditions - The average market price of concrete in China decreased by 11.5% year-on-year in the first half of 2024[25] - The GDP of Yunnan Province is expected to reach approximately RMB 1.46 trillion in the first half of 2024, representing a year-on-year growth of 3.5%[57] - The comprehensive utilization rate of phosphogypsum in Yunnan Province is targeted to reach 75% by 2025, with a dynamic balance between the comprehensive disposal amount and the generated amount[58] Other Information - The company did not recommend the distribution of interim dividends for the first half of 2024[22] - There have been no significant events occurring after the reporting period up to the date of the earnings announcement[72] - The company has not purchased, sold, or redeemed any of its listed securities during the six months ended June 30, 2024[70] - The remaining unutilized global offering proceeds are expected to be fully utilized by the end of 2026[65] - The financial report emphasizes the importance of accurate data interpretation for stakeholders[77] - The company is committed to transparency in its financial disclosures and corporate governance[77]

Financial Performance - The company reported a consolidated revenue of RMB 1.2 billion for the fiscal year 2023, representing a year-on-year increase of 15%[3]. - The net profit attributable to shareholders was RMB 200 million, up 10% compared to the previous year[3]. - The company reported a revenue increase of 15% year-over-year for the fiscal year ended December 31, 2023[10]. - For the twelve months ended December 31, 2023, the Group's revenue was approximately RMB 1,405.78 million, which decreased by 16.36% compared to the same period in 2022[44]. - The gross profit for the same period was approximately RMB 123.01 million, reflecting a decrease of 32.76% compared to 2022[44]. - The loss before income tax was approximately RMB -42.87 million, which represents a significant decrease of 217.77% compared to the same period in 2022[44]. - The company incurred a loss before tax of RMB 42.87 million in 2023, compared to a profit before tax of RMB 36.40 million in 2022[56]. - The Group's gross profit was RMB 123 million, with a gross margin of 8.7%, down from 10.9% in 2022[91]. - The Group's loss for the year was RMB 32.7 million, with a basic loss per share of RMB 0.08[94]. User Growth and Market Expansion - User data showed an increase in active users by 25%, reaching a total of 500,000 users by the end of 2023[3]. - User data showed a growth in active users by 20% compared to the previous year, reaching 1.2 million active users[10]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2025[3]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share by 2025[10]. - The Group expanded its market presence by entering new regional markets such as Dongchuan and Luquan, and improved the independent operating capabilities of subsidiaries[67]. Product Development and Innovation - New product launches are expected to contribute an additional RMB 300 million in revenue in 2024[3]. - New product launches are expected to contribute an additional 5% to revenue in the upcoming year[10]. - The company applied for 2 new invention patents and obtained 13 utility model patent authorizations in 2023, demonstrating its commitment to innovation[34]. - The Group has applied for 2 invention patents and received 13 utility model patent authorizations in 2023[36]. - The company is committed to promoting new products such as phosphogypsum building materials, RPC cover plates, and UHPC products to improve operational quality and efficiency[152]. Research and Development - Research and development expenses increased by 30%, totaling RMB 150 million, focusing on high-performance concrete technologies[3]. - Research and development expenses increased by 30%, focusing on innovative concrete solutions[10]. - The Group incurred administration and research and development expenses of RMB 115 million, representing a year-on-year increase of 15.0%[95]. - The company has established a reputation for technological innovation, with multiple awards received for contributions to the construction industry[186][187]. Sustainability and Environmental Initiatives - The management emphasized a commitment to sustainability, with plans to reduce carbon emissions by 25% by 2025[3]. - The company has been actively involved in promoting green and low-carbon transformation and upgrading, achieving certain successes despite the decline in traditional business[30]. - The Group has developed a green low-carbon logistics system demonstration industrial park, which integrates photovoltaic power generation and electric vehicle charging[36]. - The company aims to lead the transformation to green and low-carbon industries, focusing on projects in Yunnan Province, including the establishment of green new material production bases[143]. - The company is actively pursuing green and low-carbon development initiatives, including the construction of integrated energy stations for charging and swapping[157]. Challenges and Market Conditions - In 2023, the company experienced a decline in operating income, leading to an annual loss for the first time, as the decrease in operating income exceeded the decline in operating costs[30]. - The overall concrete industry in 2023 faced challenges such as shrinking demand, fierce competition, and downward pressure on profits[30]. - The concrete industry faced challenges in 2023, with a 5.5% year-on-year decrease in the cumulative output of ready-mixed concrete for above-scale enterprises[48]. - Real estate development investment in China dropped by 9.6% in 2023, significantly impacting the concrete industry[48]. Strategic Acquisitions and Investments - The company has completed two strategic acquisitions in 2023, enhancing its production capacity by 40%[3]. - The Group plans to apply for over RMB 120 billion in various types of funds throughout 2024 to support major project construction and comprehensive utilization of phosphogypsum resources[37]. - The Group aims to enhance investment in green and low-carbon development, promoting the establishment of green production bases and industrial parks[38]. Leadership and Management - Mr. Li Zhangjian, the chairman and executive director, has been with the company since November 2021, previously serving in various leadership roles in the construction materials sector[175][176][177]. - The company has established a robust management team with members holding advanced engineering titles and degrees in relevant fields[194]. - The leadership team emphasizes the importance of research and development in enhancing product offerings and market competitiveness[179][182]. Financial Outlook and Guidance - Future guidance estimates a revenue growth of 18% for 2024, projecting total revenue of RMB 1.42 billion[3]. - The company provided a positive outlook for 2024, projecting a revenue growth of 10% to 12%[10]. - The Group expects to sign approximately RMB 1.12 billion in new sales contracts in Q1 2024, with concrete business contracts estimated at RMB 920 million, involving a demand for approximately 31.0 million m³ of concrete[79].

Financial Performance - The company's revenue for the year ended December 31, 2023, was approximately RMB 1,405.8 million, a decrease of 16.4% compared to 2022[2]. - The annual loss for 2023 was approximately RMB 32.7 million, compared to a profit of RMB 29.9 million in 2022[3]. - Loss attributable to the owners of the company was approximately RMB 34.1 million, down from a profit of RMB 27.2 million in 2022[3]. - Basic loss per share for 2023 was approximately RMB 0.08, compared to a basic earnings per share of RMB 0.06 in 2022[3]. - The company reported a gross profit of RMB 123.0 million for 2023, down from RMB 182.9 million in 2022[3]. - The gross profit margin for 2023 was 8.7%, down from 10.9% in 2022, primarily due to a larger decline in revenue (16.4%) compared to the decrease in cost of sales (14.4%)[65]. - The company reported a pre-tax loss of RMB 42.9 million for 2023, compared to a pre-tax profit of RMB 36.4 million in 2022[63]. - The company incurred a pre-tax loss of RMB 42.9 million in 2023, compared to a pre-tax profit of RMB 36.4 million in 2022, as revenue decline outpaced the reduction in operating expenses[83]. Assets and Liabilities - Total assets as of December 31, 2023, were RMB 4,455.8 million, down from RMB 4,830.8 million in 2022[7]. - Total liabilities as of December 31, 2023, were RMB 3,135.6 million, compared to RMB 3,461.2 million in 2022[8]. - The company's total liabilities increased, with bank borrowings rising to RMB 62,250 thousand as of December 31, 2023, compared to RMB 23,845 thousand in 2022, indicating increased leverage[43]. - The total assets of the company as of December 31, 2023, were RMB 4,456 million, a decrease of 7.8% from the previous year, while total liabilities decreased by 9.4% to RMB 3,136 million[88][89]. Revenue Breakdown - The group's revenue from ready-mixed concrete and related products for the year ended December 31, 2023, was RMB 1,314,634,000, a decrease of 14.7% from RMB 1,541,986,000 in 2022[23]. - Revenue from ready-mixed concrete and related products accounted for 93.6% of total revenue, amounting to RMB 1,316 million, with sales volume and price decreasing by 7.1% and 8.1% respectively[65]. - Revenue from independent third-party customers was RMB 407.5 million, a decline of 25.0% from RMB 543.3 million in 2022, representing 29.0% of total revenue[67]. - Major customer Group A contributed RMB 996,552,000 in revenue for 2023, down from RMB 1,136,798,000 in 2022, reflecting a decrease of 12.3%[23]. Operational Metrics - For the year ended December 31, 2023, the company produced and sold 4.32 million cubic meters of ready-mixed concrete, 21,000 tons of polycarboxylate superplasticizers, and 310,000 tons of cement and additives[63]. - The company has a fleet of 161 concrete transport vehicles, including 43 electric mixing trucks, and has established 3 battery swap stations and 2 photovoltaic power stations[62]. - The company operated 40 concrete mixing stations and 76 production lines with an annual capacity of 17.98 million cubic meters as of December 31, 2023[62]. Cost Management - The company implemented cost reduction measures, resulting in a 16.2% decrease in material costs and a 10.7% decrease in direct manufacturing costs compared to the previous year[65]. - The company's total cost of sales, distribution expenses, and administrative expenses amounted to RMB 1,429,047 thousand in 2023, down from RMB 1,634,691 thousand in 2022[32]. - Operating expenses for 2023 amounted to RMB 1,429 million, a decrease of 12.6% year-on-year, but the operating expense ratio increased to 101.7%[80]. Research and Development - Research and development expenses increased to RMB 17.1 million in 2023 from RMB 11.6 million in 2022[3]. - The company applied for 2 invention patents and received 13 utility model patents in 2023, contributing to a total of 106 patents and 28 standards developed or participated in[71]. Governance and Management - The company has adhered to corporate governance codes and established a modern governance structure with effective checks and balances[114]. - The audit committee has reviewed the financial controls and risk management systems for the year ending December 31, 2023[118]. - The company plans to hold elections for the third board of directors and supervisory board at the 2023 annual general meeting[120]. - The resignation of executive directors Mr. Lu Jianfeng and Ms. Hu Zhuyong took effect on March 28, 2024, reducing the board size from 9 to 7 members[123]. - The board's composition remains compliant with the Hong Kong Listing Rules and the company's regulations following the resignations[123]. Future Outlook - The outlook indicates that the long-term fundamentals of the economy remain positive, with increased market demand for the concrete industry driven by national infrastructure initiatives[107]. - In 2024, the company aims to leverage RMB 600 million in provincial special funds to support major manufacturing projects and comprehensive utilization of phosphogypsum[108]. - The company plans to secure over RMB 120 billion in various funding to support major project construction throughout the province in 2024[108]. - The company intends to enhance the promotion of new products including phosphogypsum building materials, RPC slabs, and UHPC products to improve operational efficiency[110]. Accounting Standards - The company plans to adopt Chinese Accounting Standards for preparing financial statements[2]. - The proposal to unify accounting standards requires approval from shareholders at the 2023 Annual General Meeting[172]. - The company will now allow financial statements to be prepared according to both Chinese accounting standards and international standards, with a preference for the lower post-tax profit figure when distributing profits[178].

Financial Performance - The company reported a revenue of RMB 500 million for the first half of 2023, representing a 20% increase compared to the same period last year[3]. - For the six months ended June 30, 2023, the Group recorded revenue of approximately RMB734.5 million, representing a decrease of 8.9% from the corresponding period of 2022[23]. - The gross profit margin improved to 30%, up from 25% in the previous year, indicating better cost management and pricing strategies[3]. - Gross profit for the same period was approximately RMB67.1 million, reflecting a decrease of 25.9% compared to the previous year[23]. - The profit before income tax was approximately RMB-15.1 million, indicating a decrease of 155.5% from the corresponding period of 2022[23]. - Earnings per share for the first half of 2023 were approximately RMB-0.03, a decrease of 175.0% from the same period in 2022[23]. - The net profit attributable to the owners of the company was RMB -13.8 million, reflecting a decrease of 173.4% year-on-year[33][36]. - The reported profit for the six months ended June 30, 2023, was RMB -11.5 million, a decrease of 155.6% year-on-year, with basic earnings per share at RMB -0.03[77]. - Total comprehensive loss attributable to equity holders of the company was RMB 13,811,000, down from a comprehensive income of RMB 19,415,000 in the prior year[193]. Market and Growth Strategy - User data showed a 15% increase in active customers, reaching 200,000 by June 30, 2023[3]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[3]. - Future guidance estimates revenue growth of 15-20% for the full year 2023, driven by increased demand and new product launches[3]. - The company is exploring potential acquisitions to enhance its supply chain efficiency and expand its product offerings[3]. - A strategic partnership with a leading construction firm is expected to boost project collaborations and increase market reach[3]. Product Development and Innovation - New product development includes a high-performance concrete mix that is expected to launch in Q4 2023, projected to increase sales by 25%[3]. - The company has allocated RMB 50 million for research and development in 2023, focusing on sustainable construction materials[3]. - The Group obtained 2 utility model patents and 1 authorized patent in the first half of 2023, and published 3 technical papers, enhancing its technological innovation capabilities[49]. - The company and Shenzhen University completed a project on green design and crack resistance in concrete engineering, achieving international leading standards and applying for a provincial science and technology award[131]. Operational Efficiency and Cost Management - The Group's strategic focus includes strengthening foundational management and cost control to navigate the challenging industry landscape[49]. - The Group intensified debt recovery efforts, establishing a coordinated mechanism and encouraging full employee participation in the debt recovery process[48]. - The company is focusing on enhancing operational efficiency and exploring new market opportunities to improve future performance[192]. Economic Environment and Challenges - The company faces serious challenges in exploring new markets and undergoing transformation and upgrades due to the current economic conditions[25]. - In the first half of 2023, Yunnan Province's fixed asset investment (excluding rural households) decreased by 5% period-on-period[25]. - Real estate development investment in Yunnan Province decreased by 33% in the same period[25]. - Transportation investment in Yunnan Province also saw a decrease of 16%[25]. - Yunnan Province's GDP reached RMB 1.4 trillion in the first half of 2023, representing a 5.1% increase year-on-year, indicating a positive economic environment for the concrete industry[109]. Sustainability and Green Development - The company is focusing on green and low-carbon development in the concrete industry, aligning with national strategies for high-quality development[28]. - The Group plans to focus on green and low-carbon development, with key projects including the Zhaotong green new material production base and other recycling industrial parks in Yunnan Province[108]. - The Group is committed to building a green and low-carbon system, focusing on green factories, products, and logistics to enhance economic and social benefits[116][119]. Employee and Management - The Group employed a total of 991 employees as of June 30, 2023, down from 1,160 employees a year earlier, with total employee benefits and labor expenses amounting to RMB 83.1 million for the six months ended June 30, 2023[94]. - The company organized training for 168 employees in the first half of 2023, resulting in over 270 job-related certificates obtained or renewed[98]. - The company maintained a good relationship with employees, with no major labor disputes affecting business operations during the reporting period[99]. Shareholding and Corporate Governance - The major shareholder YCIH holds 228,600,000 domestic shares, representing approximately 73.18% of the corresponding class and 51.22% of the total issued share capital[181]. - The company has a significant concentration of shareholding, with major shareholders holding over 60% of the total issued share capital[181]. - The company has complied with all applicable corporate governance code provisions for the six months ended June 30, 2023[141]. - The board does not recommend any interim dividend for the six months ended June 30, 2023[143].

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 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 YCIH Green High-Performance Concrete Company Limited 雲南建投綠色高性能混凝土股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1847） 2023年中期業績公告；及 變更全球發售所得款項用途 財務摘要： 截至2023年6月30日止六個月，本集團實現： 收入約為人民幣734.5百萬元，較2022年同期減少8.9%； 毛利約為人民幣67.1百萬元，較2022年同期減少25.9%； 除所得稅前利潤約為人民幣-15.1百萬元，較2022年同期減少155.5%；及 每股盈利約為人民幣-0.03元，較2022年同期減少175.0%。 ...

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2022, representing a year-on-year increase of 15%[3]. - The company reported a total revenue of RMB 1.2 billion for the year ended December 31, 2022, representing a year-on-year increase of 15%[13]. - The Group achieved a revenue of RMB 1,680.7 million in 2022, a year-on-year decrease of 20.1%, primarily due to a 24.0% decline in sales of ready-mixed concrete[90]. - The total sales revenue of ready-mixed concrete was RMB 1,541 million, down RMB 546 million from the previous year, accounting for 91.6% of total revenue[92]. - The overall gross profit for 2022 was RMB 183 million, with a gross profit margin of 10.9%, an increase of 4.2 percentage points from 6.7% in 2021[72]. - Profit before income tax was approximately RMB 36.40 million, representing an increase of 142.02% compared to the same period in 2021[51]. - The profit for the year was RMB 29.9 million, representing an increase of 346.3% compared to the previous year, with earnings per share of RMB 0.06[101]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[3]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in sales from this region in the next fiscal year[13]. - The company is exploring potential acquisitions to enhance its supply chain efficiency and product offerings, with a budget of RMB 200 million set aside for this purpose[3]. - The company is exploring potential acquisitions to enhance its supply chain efficiency and market reach, with a focus on companies in the construction materials sector[13]. - The company aims to enhance its capacity planning and promote comprehensive recycling of urban construction waste and industrial solid waste[36][38]. - The company plans to actively participate in major infrastructure projects in Yunnan, including highways and water conservancy facilities, to improve market share and profitability[173]. Product Development and Innovation - New product launches in 2023 are expected to contribute an additional RMB 300 million in revenue, with a focus on eco-friendly construction materials[3]. - New product lines, including eco-friendly concrete solutions, are expected to contribute an additional RMB 200 million in revenue in 2023[13]. - The company is focusing on the development of new products, including commercial mortar and ultra-high performance concrete (UHPC), with plans for mass production and sales[36][38]. - The company plans to use proceeds from the global offering to acquire aggregate mining resources, purchase new energy equipment, and develop new products and technologies[75]. - The company aims to enhance product quality and expand its market presence in polycarboxylic admixtures, aggregates, commercial mortar, and UHPC products[79]. - The company is focusing on the development of Ultra-High Performance Concrete (UHPC) and enhancing cooperation with research institutions to boost technological innovation[176]. Sustainability and Environmental Initiatives - The company achieved a reduction in carbon emissions by 12% in 2022, aligning with national goals for carbon neutrality by 2060[3]. - The focus on green, low-carbon, and high-quality development has been emphasized, aligning with national strategies for sustainable growth[30]. - The company is actively transforming the traditional concrete industry into a green and low-carbon industry, promoting green products and sustainable practices[36][38]. - The company is committed to green and low-carbon development, having built Yunnan Province's first integrated green new energy and low-carbon logistics demonstration industrial park[167]. - The company aims to utilize solid waste resources and promote the construction of a green manufacturing system, focusing on green products and supply chains[168]. - The company is committed to promoting green and low-carbon building materials industrial parks to align with national carbon neutrality goals[182]. Operational Efficiency and Cost Management - The gross profit margin improved to 30%, up from 28% in the previous year, indicating better cost management and pricing strategies[3]. - The company implemented a series of cost control measures, focusing on five major costs, which contributed to significant improvements in return on net assets and operating cash ratio[35][37]. - The Group's operating expenses for 2022 were RMB 1,635 million, a decrease of 22.6% compared to the previous year, representing 97.3% of operating revenue[93]. - The company has allocated RMB 50 million for R&D in new technologies aimed at enhancing product performance and sustainability[3]. - The company has established seven centers and five major business divisions to enhance operational efficiency and management capabilities[75]. - The company will strengthen its internal management and upgrade its information management systems to improve operational efficiency and decision-making support[177]. Future Guidance and Projections - Future guidance estimates a revenue growth of 10-15% for 2023, driven by increased demand and market expansion efforts[3]. - The company aims to achieve a net profit margin of 12% in 2023, up from 10% in 2022, through operational efficiencies and cost control measures[13]. - The company aims to align with the national goal of around 6% regional GDP growth and around 9% growth in fixed asset investment in Yunnan Province[42]. - The company plans to enhance its technological research and development and quality control to support its transformation and upgrading efforts[45]. Awards and Recognition - The company was awarded the "KZJ Cup" as one of China's Top Ten Commercial Concrete Enterprises for the eighth time since 2013[62]. - The company received the "National Most Beautiful Power Swapping Station" award and the "Most Promising Award" for its achievements in green and low-carbon development in 2022[190]. - The company has been recognized with multiple industry awards, enhancing its reputation and leading the direction of industry development[192]. - Yuxi Building Material, a subsidiary, was recognized as a "High-Tech Enterprise," allowing it to benefit from a preferential tax rate of 15% for enterprise income tax for three years starting from 2022[195].

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 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 YCIH Green High-Performance Concrete Company Limited 雲南建投綠色高性能混凝土股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1847） 截至2022年12月31日止年度之年度業績公告；及 變更全球發售所得款項用途 年度財務摘要： 截至2022年12月31日止年度，本集團： • 收入約為人民幣1,680.7百萬元，較2021年下降20.1%； • 除所得稅前利潤約為人民幣36.4百萬元，較2021年增加142.7%； • 歸屬於本公司所有者淨利潤約為人民幣27.2百萬元，較2021年增加3,785.7%； • 每股盈利約為人民幣0.06元（2021年：人民幣0.00元）。 ...