Financial Performance - For the fiscal year ending December 31, 2024, ZONQING Environmental Limited reported total revenue of approximately RMB 1,743.1 million, a decrease of 26.0% compared to RMB 2,355.5 million in 2023[8]. - The net profit for the year was approximately RMB 46.1 million, down 69.9% from RMB 153.2 million in the previous year[8]. - The gross profit decreased by 30.4% to RMB 314.0 million from RMB 450.8 million in 2023[8]. - The company achieved a basic and diluted earnings per share of RMB 0.05, a decline of 68.8% from RMB 0.16 in the previous year[8]. - Revenue decreased by approximately 26.0% or RMB 612.4 million from RMB 2,355.5 million in FY2023 to RMB 1,743.1 million in FY2024, primarily due to delays in government construction projects[27]. - The urban renewal services segment's revenue fell by approximately 31.8% or RMB 650.0 million from RMB 2,024.2 million in FY2023 to RMB 1,392.2 million in FY2024, attributed to project delays[28]. - The urban operation and maintenance services segment's revenue increased by approximately 12.1% or RMB 26.4 million from RMB 219.0 million in FY2023 to RMB 245.4 million in FY2024, driven by growth in new contracts[29]. - The urban planning and design services segment's revenue decreased by approximately 32.4% or RMB 36.4 million from RMB 112.3 million in FY2023 to RMB 75.9 million in FY2024, influenced by policy and macroeconomic conditions[30]. - Gross profit decreased by approximately 30.3% to RMB 314.0 million, with a gross margin decline from 19.1% to 18.0% due to increased market competition and lower service fees in new regions[33]. Income and Expenses - The company experienced a significant increase in other income, which rose by 48.2% to RMB 15.6 million compared to RMB 10.6 million in the prior year[8]. - Selling expenses surged by 83.1% to RMB 34.4 million, up from RMB 18.8 million in 2023[8]. - Administrative expenses decreased by approximately 10.3% to RMB 82.3 million, mainly due to reduced business volume and cost-saving management practices[36]. - Financing costs decreased by approximately 7.7% to RMB 60.1 million, primarily due to lower loan interest rates in response to national policies supporting business development[38]. - The share of losses from joint ventures increased from a profit of RMB 1.4 million to a loss of RMB 2.7 million, mainly due to increased expected credit loss provisions[41]. - The share of losses from a joint venture in tourism increased from RMB 4.4 million to RMB 24.9 million, driven by higher expected credit loss provisions[42]. Assets and Liabilities - Non-current assets remained relatively stable at RMB 483.7 million, a slight decrease of 0.1% from RMB 483.9 million in 2023[8]. - Current assets increased by 16.0% to RMB 3,899.9 million, compared to RMB 3,362.5 million in the previous year[8]. - The total equity attributable to shareholders increased by 3.3% to RMB 795.2 million from RMB 769.5 million in 2023[8]. - Current assets decreased by approximately 14.8% to RMB 321.4 million, partly due to slower customer payment speeds and outstanding payables[46]. - Trade receivables and notes increased by approximately 30.4% from RMB 1,765.1 million to RMB 2,301.7 million due to delays in collection influenced by the national economic environment[49]. - Trade payables and notes rose by approximately 13.6% from RMB 1,389.2 million to RMB 1,578.1 million, attributed to extended payment terms negotiated with suppliers due to customers' weakened repayment ability[52]. - The group's equity return rate decreased from 18.1% in the fiscal year 2023 to 6.0% in the fiscal year 2024, mainly due to a reduction in profit[60]. - The total asset return rate fell from 3.8% in the fiscal year 2023 to 1.1% in the fiscal year 2024, primarily due to decreased profit[61]. - The capital debt ratio increased from 1.0 to 1.1, driven by an increase in bank and other loans[63]. - The net debt-to-equity ratio rose from 0.7 to 1.0, also due to an increase in bank and other loans[64]. Business Operations and Strategy - The company made significant progress in expanding its cultural tourism business, particularly in key regions such as Sichuan, Guangdong, and Hainan[9]. - Revenue sources for fiscal year 2024 included urban renewal services (79.9%), urban operation and maintenance services (14.1%), urban planning and design services (4.3%), and cultural tourism (1.7%)[12]. - The cultural tourism segment generated revenue of approximately RMB 29.64 million with a gross profit of RMB 11.59 million, accounting for about 3.7% of total gross profit[14]. - The group plans to continue expanding its cultural tourism business and enhance service quality while implementing national development strategies, particularly in regions like Sichuan, Guangdong, and Hainan[16]. - The company is focused on digital transformation and improving operational management to achieve sustainable high-quality development[10]. - The company plans to expand its business in cities like Shenzhen, Guangzhou, Tianjin, and Chongqing, focusing on urban operation and maintenance as well as cultural tourism markets[26]. - The company expects to benefit from government debt policies, improving cash flow and reducing financial pressure in FY2025[24]. - The company is exploring acquisition opportunities to enhance its overall strength and diversify its business portfolio, although no specific plans for major investments or acquisitions have been disclosed[65]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to ensure integrity, transparency, and effective internal management[93]. - The board has established three committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee to oversee specific aspects of the company's affairs[106]. - The company has not identified any non-compliance with trading standards by directors since the listing date[95]. - The board is responsible for formulating the overall strategy and policies of the group, approving business plans, and assessing group performance[97]. - The company will continue to review and strengthen its corporate governance to ensure compliance with the corporate governance code[94]. - All independent non-executive directors have confirmed their independence according to the listing rules[99]. - The board has adopted a diversity policy, achieving a gender ratio of 6:2 among board members as of the 2024 fiscal year[103]. - The company’s internal audit department plays a crucial role in monitoring internal governance and assessing major risks[119]. Shareholder and Stakeholder Engagement - The company expresses gratitude to shareholders and partners for their support, emphasizing a commitment to creating greater value for stakeholders[10]. - The company has a policy for handling and disclosing inside information, requiring Board approval for any announcements[120]. - The company’s shareholder communication policy is deemed sufficient and effective by the board[124]. - The company reported no dividend distribution for the fiscal year 2024[137]. - As of December 31, 2024, the company had no distributable reserves for shareholders, compared to zero in 2023[147]. - The company has adopted a dividend policy that depends on the availability of dividends from its subsidiaries, with future dividends subject to various factors including operational performance and cash flow[116]. Employee and Management Information - The group had a total of 799 employees as of December 31, 2024, with employee costs amounting to approximately RMB 173.4 million for the fiscal year 2024, compared to RMB 169.7 million in 2023[187]. - The total remuneration for senior management in the fiscal year 2024 is categorized into two levels: 5 members received between 0 – 400,000 RMB, and 3 members received between 400,000 – 800,000 RMB[115]. - All directors participated in continuous professional development to enhance their knowledge and skills for effective contributions to the board[98]. Related Party Transactions - The group entered into significant related party transactions in the fiscal year 2024, with total purchases amounting to approximately RMB 2,743,000, down from RMB 8,824,000 in 2023[194]. - The group provided guarantees for bank loans amounting to approximately RMB 642.7 million as of December 31, 2024, compared to RMB 393 million in 2023[194]. - The group established a new equipment usage framework agreement with Zhongqing Investment Group, with a maximum payment of RMB 600,000, RMB 700,000, and RMB 800,000 for the respective three years ending December 31, 2025[195]. - The group also entered into a new survey and design service framework agreement with Zhongqing Investment Group, with a maximum payment of RMB 20 million per year for three years, with RMB 1,874,000 recorded for the fiscal year 2024[196]. - The company entered into a new property leasing framework agreement with Zhongqing Investment Group, effective from January 1, 2023, to December 31, 2025, with a maximum payment of RMB 4,500,000, RMB 4,800,000, and RMB 4,800,000 for each respective year[198]. - For the year ending December 31, 2024, the transaction amount for property leasing is RMB 2,463,000, which is within the annual limit[198]. - A new framework agreement for landscaping and ecological restoration construction services was established with Zhongqing Investment Group, also effective from January 1, 2023, to December 31, 2025, with maximum payments of RMB 150,000,000, RMB 160,000,000, and RMB 170,000,000 for each respective year[199]. - The transaction amount for landscaping and ecological restoration services for the year ending December 31, 2024, is RMB 25,834,000, remaining below the annual limit[199]. - The company signed a framework agreement for construction project management services with Zhongqing Investment Group, with maximum payments of RMB 30,000,000, RMB 40,000,000, and RMB 40,000,000 for each respective year until December 31, 2025[200]. - The transaction amount for construction project management services for the year ending December 31, 2024, is RMB 5,433,000, which does not exceed the annual limit[200].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 ZONQING Environmental Limited 中庆環境股份有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1855） 截至二零二四年十二月三十一日止年度之 年度業績公告 中慶環境股份有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈本公司 及其附屬公司（統稱「本集團」）截至二零二四年十二月三十一日止年度（「二零二四 財政年度」）之經審核年度業績，連同截至二零二三年十二月三十一日止年度（「二 零二三財政年度」）之比較數字。年度業績及財務資料已由本公司審核委員會（「審 核委員會」）審閱並由董事會批准。 – 1 – 綜合損益表 – 5 – | | | 截至十二月三十一日止年度 | | | --- | --- | --- | --- | | | | 二零二四年 | 二零二三年 | | | 附註 | 人民幣千元 | 人民幣千元 | | 收益 | 5 | 1,743,092 | 2, ...

ZONQING Environmental Limited 中慶環境股份有限公司 2024 （於開曼群島註冊成立的有限公司） 股份代號 : 1855 中 期 報 告 000000 目錄 | --- | --- | |--------------------------|-------| | | | | 公司資料 | 2 | | 管理層討論及分析 | 4 | | 其他資料 | 11 | | 綜合損益表 | 17 | | 綜合損益及其他全面收益表 | 18 | | 綜合財務狀況表 | 19 | | 綜合權益變動表 | 21 | | 簡明綜合現金流量表 | 23 | | 未經審核中期財務報告附註 | 24 | | 釋義及技術詞彙表 | 50 | 本中期報告（「報告」）之中英文版本均於本公司網站(www.zonqing.net（「) 本公司網站」)及香港交易及結算所有限公司網站 (www.hkexnews.hk)刊登。 公司資料 李國棟先生 董事會 提名委員會 高向農先生（主席） 李國棟先生 尹軍先生 核數師 | --- | --- | |---------------------------------|----- ...

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 775,648,000, a decrease of 14.7% compared to RMB 909,819,000 for the same period in 2023[2] - Gross profit increased to RMB 175,361,000, up 20.1% from RMB 145,934,000 year-on-year[2] - Operating profit for the period was RMB 72,036,000, slightly down from RMB 75,986,000 in the previous year[2] - Net profit attributable to equity shareholders was RMB 34,259,000, compared to RMB 37,102,000 in the same period last year, reflecting a decrease of 7.4%[2] - Basic and diluted earnings per share were RMB 12, down from RMB 13 in the previous year[2] - Total comprehensive income for the period was RMB 43,916,000, an increase from RMB 40,309,000 in the prior year[5] - The company reported a net income before tax of RMB 47,141,000 for the six months ended June 30, 2024, slightly up from RMB 46,077,000 in the same period of 2023, reflecting a growth of 2.3%[23] - The financing costs decreased to RMB 24,960,000 in the first half of 2024 from RMB 32,329,000 in the same period of 2023, a reduction of approximately 22.7%[25] - Research and development expenses were RMB 36,677,000 for the six months ended June 30, 2024, down from RMB 54,418,000 in the same period of 2023, representing a decrease of about 32.6%[26] - The total administrative expenses decreased to RMB 38,017,000 in the first half of 2024 from RMB 42,299,000 in the same period of 2023, a decline of about 10.7%[23] - The company’s income tax expense for the six months ended June 30, 2024, was RMB 3,729,000, compared to RMB 2,586,000 for the same period in 2023, reflecting an increase of approximately 44.1%[27] Revenue Breakdown - Revenue from urban renewal construction services was RMB 613,016,000, down 21.8% from RMB 783,582,000 in the previous year[18] - Urban operation and maintenance services revenue increased significantly to RMB 123,617,000, up 100.3% from RMB 61,674,000 in the prior year[18] - Revenue from design and consulting services decreased to RMB 39,015,000, down 39.8% from RMB 64,563,000 in the previous year[18] - The group's revenue decreased by approximately 14.7% from RMB 909.8 million in H1 2023 to RMB 775.6 million in H1 2024, primarily due to a reduction in newly approved large contracts and slower project progress[49] - Revenue from the urban renewal construction services segment fell by about 21.8% from RMB 783.6 million in H1 2023 to RMB 613.0 million in H1 2024, attributed to fewer new large contracts and a decline in average contract value[50] - The urban operation and maintenance services segment saw a revenue increase of approximately 100.3%, rising from RMB 61.7 million in H1 2023 to RMB 123.6 million in H1 2024, due to successful operational business transformation[51] Assets and Liabilities - Non-current assets as of June 30, 2024, amounted to RMB 504,745,000, compared to RMB 483,933,000 at the end of 2023[6] - Current assets decreased to RMB 3,352,217,000 from RMB 3,362,493,000 at the end of 2023[8] - Total liabilities were RMB 2,965,388,000, slightly down from RMB 2,985,285,000 at the end of 2023[10] - Total equity increased to RMB 793,838,000 from RMB 769,469,000 at the end of 2023[12] - The company’s contract assets amounted to RMB 1,376,653,000 as of June 30, 2024, an increase from RMB 1,118,463,000 as of December 31, 2023, indicating a growth of approximately 23.1%[31] - The net current assets of the group rose by approximately 2.6% or RMB 9.6 million from approximately RMB 377.2 million on December 31, 2023, to approximately RMB 386.8 million on June 30, 2024, primarily due to an increase in contract assets[63] - As of June 30, 2024, trade receivables amounted to RMB 1,644.05 million, with an expected collection within one year[40] - Trade payables totaled RMB 1,354.13 million as of June 30, 2024, with all expected to be settled within one year[42] Strategic Initiatives - The company aims to enhance its integrated business model in cultural tourism and continue pursuing quality improvements in infrastructure projects[48] - The company plans to maintain a customer-centric approach and focus on sustainable development while actively seeking opportunities for qualification upgrades and project awards[48] - The company continues to focus on high-quality development and actively responds to challenges while seizing opportunities for growth[47] - The company maintains a strong bidding capability and continues to integrate qualifications to enhance its competitive advantage in the market[44] Innovation and Development - The company obtained 2 invention patents and 5 utility model patents in the first half of 2024, reflecting ongoing innovation efforts[45] - The share of profits from joint ventures decreased by approximately 55.5% from RMB 0.9 million in H1 2023 to RMB 0.4 million in H1 2024, reflecting challenges in joint venture performance[60] - Expected credit loss impairment for trade and other receivables was approximately RMB 60.0 million in H1 2024, up from RMB 24.4 million in H1 2023, due to slower turnover of receivables[57] Corporate Governance - The audit committee reviewed the unaudited interim results and financial report for the six months ended June 30, 2024[76] - The board of directors includes executive directors Liu Haitao (Vice Chairman) and Wang Yan, as well as non-executive and independent directors[78] - The company declared a final dividend of RMB 0.071 per share for the fiscal year ending December 31, 2023, totaling RMB 19.75 million[43] - The group had 849 employees as of June 30, 2024, and has established a systematic compensation policy to ensure transparency and fairness[71] Market Conditions - The company's revenue growth in the first half of 2024 was impacted by a complex domestic and international environment, with China's GDP growing by 5.0% year-on-year[47] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures in the first half of 2024[66] - The group has no specific plans for significant investments or capital assets as of the announcement date[70] Financial Ratios - The debt-to-equity ratio increased from 1.05 times on December 31, 2023, to 1.08 times on June 30, 2024, mainly due to an increase in bank loans and a decrease in total equity due to dividends[65] - As of June 30, 2024, the group had cash and cash equivalents of approximately RMB 61.2 million, a decrease from approximately RMB 210.4 million on December 31, 2023[64] - The company has not identified any need for reclassification of liabilities as current or non-current following the adoption of new accounting standards[15]

ZONQING Environmental Limited 中慶環境股份有限公司 （於開曼群島註冊成立的有限公司） 股份代號 : 1855 2023 年 報 | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 目錄 | | | | | | | | 公司資料 | | 2 | | | | | | 財務摘要 | | 4 | | | | | | 主席報告 | | 5 | | | | | | 管理層討論及分析 董事及高級管理層 | | 6 20 | | | | | | | | | | | | | | 企業管治報告 | | 25 | | | | | | 董事會報告 | | 35 | | | | | | 環境、社會及管治報告 | | 58 | | | | | | 獨立核數師報告 | | ...

Financial Performance - Revenue for the fiscal year ended December 31, 2023, was RMB 2,355,497, an increase of 111.1% compared to RMB 1,116,442 in 2022[2] - Gross profit for the fiscal year was RMB 450,848, representing a gross margin of approximately 19.1%, up from RMB 193,752 in 2022[2] - Operating profit for the year was RMB 240,807, a significant recovery from an operating loss of RMB 41,803 in the previous year[2] - Net profit attributable to equity shareholders was RMB 135,206, compared to a loss of RMB 96,343 in 2022, marking a turnaround[2] - Earnings per share for the year was RMB 49, compared to a loss per share of RMB 35 in the previous year[2] - Total comprehensive income for the year was RMB 148,903, compared to a loss of RMB 87,170 in 2022[4] - The pre-tax profit for the year ended December 31, 2023, was RMB 172,652,000, compared to a loss of RMB 114,749,000 in 2022[32] - The gross profit for the reportable segments totaled RMB 450,848 thousand in 2023, compared to RMB 193,752 thousand in 2022, reflecting a growth of 132.5%[24] - The gross profit margin improved to 19.1% in fiscal year 2023 from 17.4% in 2022, while the net profit margin turned positive at 6.5% compared to a loss margin of -8.7% in 2022[85] Assets and Liabilities - Current assets decreased to RMB 3,362,493 from RMB 3,689,191 in the previous year, reflecting a decline of approximately 8.8%[6] - Total liabilities decreased to RMB 2,985,285 from RMB 3,172,460, indicating a reduction of about 5.9%[6] - The company's net assets decreased to RMB 769,469 from RMB 918,015, a decline of approximately 16.2%[7] - The company's contract assets decreased to RMB 1,118,463,000 in 2023 from RMB 1,055,709,000 in 2022, showing a decline of approximately 5.9%[37] - Total bank and other loans decreased to RMB 806,210 thousand in 2023 from RMB 1,053,713 thousand in 2022, a decline of 23.5%[44] - The total amount of trade receivables and contract assets as of December 31, 2023, includes 16.7% from the group's largest debtor and 54.1% from the top five debtors[95] Acquisitions and Investments - The company acquired 100% equity of Jilin Jinghe Design Engineering Co., Ltd. for RMB 12,207,000 and a third-party acquisition for RMB 378,000 in July 2022[10] - In June 2023, the company purchased 87.5% equity of Jilin Modern Zhongqing Urban Construction Co., Ltd. for RMB 305,756,000, with payment completed in July 2023[10] - The company completed the acquisition of Jilin Modern Zhongqing, which is expected to enhance its operational capabilities and expand its service offerings[21] - The group plans to expand into the Guangdong market through the acquisition of Guangdong Fengyue Construction Engineering Co., Ltd., obtaining a first-class qualification for municipal public engineering construction[61] Revenue Sources and Growth - Revenue sources for fiscal year 2023 were primarily from urban renewal construction services (85.9%), urban operation services (9.3%), and design and consulting services (4.8%)[56] - The revenue from urban renewal construction services reached RMB 2,024,246 thousand in 2023, a remarkable increase of 134.0% from RMB 863,659 thousand in 2022[18] - The urban operation and maintenance services segment's revenue increased by approximately 47.5% from RMB 148.4 million in FY2022 to RMB 219.0 million in FY2023, also due to new contract approvals[65] Expenses and Costs - Employee costs decreased to RMB 169,734,000 in 2023 from RMB 173,243,000 in 2022, representing a reduction of approximately 2.9%[29] - Research and development expenses significantly increased to RMB 85,542,000 in 2023, up from RMB 44,198,000 in 2022, marking an increase of approximately 93.6%[30] - Administrative expenses increased by approximately 5.6% from RMB 86.8 million in FY2022 to RMB 91.7 million in FY2023, primarily due to increased tax expenses related to higher operating income[69] - Financing costs decreased by approximately 6.7% from RMB 69.9 million in FY2022 to RMB 65.1 million in FY2023, due to lower interest expenses[71] Credit and Receivables - Trade receivables and notes impairment losses were RMB 115,539 thousand in 2023, compared to RMB 66,795 thousand in 2022, showing an increase of 73.0%[27] - The aging analysis shows that trade receivables due within one year rose to RMB 927,684 thousand in 2023 from RMB 735,224 thousand in 2022, a growth of 26.1%[40] - Expected credit loss provisions decreased from RMB 138.5 million in FY2022 to RMB 110.1 million in FY2023, attributed to improved cash collection and reduced loss rates[70] Governance and Compliance - The company has adopted the corporate governance code as outlined in Appendix C1 of the listing rules[103] - The audit committee consists of three independent non-executive directors, with Mr. Li Guodong as the chairman[104] - The financial statements for the fiscal year ending December 31, 2023, have been reviewed by the auditors, KPMG[105] Future Outlook and Strategy - The central government's economic work meeting emphasized a favorable outlook for economic recovery in 2024, focusing on stability and progress in the construction industry[60] - The group aims to enhance its operational efficiency and effectiveness through risk management, with no significant internal control deficiencies reported for fiscal year 2023[59] - The company plans to expand its integrated cultural and tourism business and enhance operational management through digitalization, targeting new markets in cities like Shenzhen, Guangzhou, and Chongqing[62]

ZONQING Environmental Limited 中庆环境股份有限公司 (於開曼群島註冊成立的有限公司) 股份代號：1855 | --- | --- | --- | --- | --- | --- | --- | |-------|--------|-------|-------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | - Q3 C | | | | | | | | | | = H + 1 0 0 1 ......... ....... UITIN 11111 ....... | | | | | | | | (1) 8 8 8 6 6 6 6 6 6 6 ...... ..... 111111 | | | | LD TUT 中 期 報 告 2023 目 錄 公司資料 2 管理層討論及分析 4 其他資料 12 綜合損益表 18 綜合損益及其他全面收益表 19 綜合財務狀況表 20 綜合權益變動表 22 簡明綜合現金流量表 24 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 ZONQING Environmental Limited 中庆環境股份有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1855） 截至二零二三年六月三十日止六個月之 未經審核中期業績公告 中庆環境股份有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其 附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月（「二零二三年上半 年」）之未經審核中期業績，連同截至二零二二年六月三十日止六個月（「二零二二 年上半年」）之比較數字。 1 綜合損益表 截至二零二三年六月三十日止六個月－未經審核 （以人民幣（「人民幣」）計值） | --- | --- | --- | --- | |-----------------------------------------------------------------------|-------|------------------------- ...

ZONQING Environmental Limited ZONQING Environmental Limited ZONQING Environmental Limited 中慶環境股份有限公司 （於開曼群島註冊成立的有限公司） 股份代號 : 1855 ZONQING Environmental Limited 中慶環境股份有限公司 (Incorporated in the Cayman Islands with limited liability) Stock code : 1855 中慶環境股份有限公司 2022 Annual Report 2022 年報 年 報 Annual Report 2022 目錄 公司資料 2 財務摘要 4 主席報告 5 管理層討論及分析 6 董事及高級管理層 23 企業管治報告 28 董事會報告 38 環境、社會及管治報告 60 獨立核數師報告 97 綜合損益表 103 綜合損益及其他全面收益表 104 綜合財務狀況表 105 綜合權益變動表 107 綜合現金流量表 109 綜合財務報表附註 111 五年財務概要 197 釋義及技術詞彙表 198 本年報之中英文版本均於 ...

Financial Performance - For the fiscal year ended December 31, 2022, the total revenue was RMB 653,441 thousand, a decrease of 30.3% compared to RMB 936,595 thousand in the previous year[2] - The gross profit for the fiscal year was RMB 134,004 thousand, down 36.5% from RMB 211,230 thousand in the prior year[2] - The net loss for the year was RMB 106,004 thousand, compared to a profit of RMB 33,410 thousand in the previous year, representing a significant decline[3] - Revenue from landscaping services decreased to RMB 496,081,000 in 2022 from RMB 705,371,000 in 2021, representing a decline of approximately 29.6%[18] - Revenue from ecological restoration services also saw a decline, falling to RMB 72,779,000 in 2022 from RMB 150,607,000 in 2021, a decrease of about 51.7%[18] - Other income for 2022 was RMB 7,087 thousand, significantly lower than RMB 23,402 thousand in 2021, marking a decrease of around 69.7%[28] - The gross profit for the landscaping segment in 2022 was RMB 134,004 thousand, down from RMB 211,230 thousand in 2021, indicating a decrease of about 36.5%[26] - The ecological restoration segment generated a gross profit of RMB 15,438 thousand in 2022, compared to RMB 20,050 thousand in 2021, reflecting a decline of approximately 23.5%[24] - The company's revenue for the fiscal year 2022 was approximately RMB 653.4 million, a decrease of about 30.2% compared to the fiscal year 2021[61] - The company's gross profit declined by approximately 36.6% from RMB 211.2 million in FY2021 to RMB 134.0 million in FY2022, reflecting the overall revenue decrease[72] Assets and Liabilities - The company reported a decrease in total assets from RMB 1,993,922 thousand in 2021 to RMB 2,058,323 thousand in 2022, an increase of 3.2%[6] - The current assets net value decreased from RMB 255,724 thousand in 2021 to RMB 106,655 thousand in 2022, a decline of 58.3%[7] - The total equity attributable to shareholders decreased from RMB 594,627 thousand in 2021 to RMB 480,213 thousand in 2022, a drop of 19.3%[8] - The company's total liabilities were RMB 1,738.2 million, with current liabilities at RMB 943.4 million[57] - Trade receivables amounted to RMB 1,107,341,000 in 2022, compared to RMB 1,021,689,000 in 2021[46] - The company's trade payables decreased to RMB 785,538,000 in 2022 from RMB 943,446,000 in 2021[47] - The debt-to-equity ratio increased from 0.9 in 2021 to 1.4 in 2022 due to an increase in bank and other loans[94] - The net debt-to-equity ratio rose from 0.8 in 2021 to 1.1 in 2022, also due to increased borrowings[95] Cash Flow and Financing - The company incurred financing costs of RMB 40,311 thousand, compared to RMB 38,007 thousand in the previous year, an increase of 6.1%[2] - The company plans to improve cash flow by expediting invoicing and collection of trade receivables, actively participating in tenders, negotiating payment terms with suppliers, and reducing operating expenses[11] - The company is in discussions with banks to renew short-term bank loans and/or secure additional bank financing to address liquidity needs[12] - The group has received a commitment from its controlling shareholder, Zhongqing Investment, to provide necessary financial support, including the renewal of short-term loans[12] - The company has fully utilized its bank financing as of December 31, 2022, with no covenants breached[54] - Total borrowings increased from RMB 504.6 million in 2021 to RMB 663.2 million in 2022, with all bank financing utilized as of December 31, 2022[88] Operational Strategy and Future Plans - The company plans to focus on environmental restoration and related projects, aiming for market expansion in the coming fiscal year[9] - The company plans to focus on new infrastructure projects, urban renewal, and major infrastructure developments in 2023, aligning with government policies to boost economic growth[65] - The company aims to enhance its market presence and operational efficiency by pursuing a dual strategy of full-process consulting and general contracting[66] - The government plans to issue RMB 3.8 trillion in special bonds to support infrastructure projects in 2023, which is expected to benefit the company's business[65] - The company will continue to expand its business in smart city construction, smart tourism, and smart water management projects in the new infrastructure sector[66] Risk Management and Governance - The overall risk management plan focuses on minimizing potential adverse impacts on financial performance due to market unpredictability[101] - The company has adopted the corporate governance code as per the listing rules, except for the provision C.2.1 regarding the separation of roles between the Chairman and CEO[112] - The audit committee consists of three independent non-executive directors, who have reviewed the accounting standards and financial reporting matters for the fiscal year 2022[113] Employee and Operational Metrics - The group has a total of 555 employees as of December 31, 2022, with a compensation committee established to review the compensation policies[110] - The company submitted 403 bids in fiscal year 2022, an increase of 87 bids or approximately 27.5% from the previous year, with a bid success rate of 19.6%, up by 6 percentage points[61] - The total value of successful bids increased from approximately RMB 443.9 million in fiscal year 2021 to approximately RMB 1,053.2 million in fiscal year 2022[61] Taxation and Compliance - The company benefited from a preferential tax rate of 15% for certain subsidiaries in China, unchanged from 2021[35] - The current tax expense for 2022 was RMB 5,446 thousand, down from RMB 13,875 thousand in 2021, representing a decrease of approximately 60.7%[33] - Income tax expense decreased from RMB 3.6 million in FY2021 to a tax benefit of RMB -18.6 million in FY2022, mainly due to increased expected credit losses[79]