Financial Performance - The new contract amount signed by the group for the year was RMB 952.4 million, an increase of 52.9% compared to RMB 623.1 million in the previous year[9]. - The revenue achieved was RMB 857.4 million, up 20.0% from RMB 714.4 million in the previous year[9]. - The group recorded an uncompleted contract amount of RMB 675.1 million, which is a 13.5% increase from RMB 595.0 million at the end of the previous year[9]. - Gross profit for the year was RMB 331.7 million, representing a 27.9% increase from RMB 259.3 million in the previous year, with a gross margin of 38.7% compared to 36.3% previously[9]. - Profit attributable to owners of the parent was RMB 137.2 million, significantly up from RMB 48.5 million in the previous year[9]. - The net profit for the year was RMB 186,800,000, a significant increase from RMB 93,800,000 in the previous year, driven by a revenue increase of RMB 143,000,000 and a gross profit increase of RMB 72,400,000[58]. Assets and Liabilities - Total assets as of December 31, 2023, were RMB 3,097.9 million, an increase from RMB 2,841.2 million in the previous year[12]. - Net assets increased to RMB 2,064.8 million from RMB 1,895.5 million in the previous year[12]. - The current ratio remained stable at 1.9, consistent with the previous year[14]. - Cash and cash equivalents increased to RMB 248,600,000, up by RMB 71,300,000 from the previous year[65]. Revenue Segmentation - The railway segment generated revenue of RMB 566.7 million, a 41.8% increase year-on-year[29]. - The energy segment reported revenue of RMB 290.7 million, a decrease of 7.7% compared to the previous year[30]. - Revenue from the Products and Professional Solutions segment was RMB 536,600,000, up 44.1% from RMB 372,361,000 in the previous year, driven by increased railway investments post-COVID-19[34]. - The Value-Added Operations and Services segment reported revenue of RMB 320,800,000, a decrease of 6.2% from RMB 342,063,000, primarily due to lower service revenue from the Hlawga power plant[35]. Operational Strategy - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[9]. - The company plans to leverage the expected increase in national railway investment, projected to exceed RMB 800 billion in 2024[22]. - The company is actively expanding its overseas railway business, having secured multiple high-speed rail projects[23]. - The company is focusing on developing new energy businesses, including photovoltaic power generation and energy management contracts[25]. Corporate Governance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules and has complied with it throughout the year ending December 31, 2023[148]. - The audit committee reviewed the annual report for the year ending December 31, 2023, ensuring transparency and accountability[150]. - The independent non-executive directors confirmed their independence and compliance with the relevant listing rules throughout the reporting period[161]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a balanced governance structure[157]. - The company emphasizes the importance of corporate governance to enhance accountability and transparency to shareholders[153]. Employee and Director Matters - The company has a retirement benefits plan for employees in China, who contribute a percentage of their salary to the national retirement benefits plan[111]. - The company has established appropriate liability insurance for directors and senior officers against legal claims[104]. - The company ensures that all directors participate in professional development to enhance their knowledge and skills[182]. - The company has adopted a pre-IPO share incentive plan and stock option plan to motivate directors and eligible employees[109]. Risk Management - The company faces risks related to public spending on transportation infrastructure, which is dependent on the Chinese government's budget[78]. - The company is exposed to project cost overruns due to fixed-price contracts requiring completion within set timeframes[79]. - The internal audit department conducted checks on significant control areas, including financial, operational, and compliance controls, to mitigate overall business and operational risks[189]. Shareholder Communication - The company emphasizes the importance of communication with shareholders, providing detailed voting procedures during the annual general meeting[196]. - The annual general meeting notice will be sent to shareholders at least 21 full days prior to the meeting date[197]. - Shareholders holding at least 10% of the paid-up capital can request a special general meeting within two months of submission[194]. Social Responsibility and Diversity - The company is committed to enhancing ESG responsibilities, focusing on product quality, customer relationships, and intellectual property protection[199]. - The company aims to increase gender diversity among board members and has set specific targets for female representation[191]. - The group has 62 female employees, representing approximately 21.91% of the total workforce, while male employees account for 78.09%[192].

Financial Performance - The total new contract amount signed by China ITS (Holdings) Co., Ltd. for the fiscal year ended December 31, 2023, was RMB 952.4 million, an increase of 52.9% compared to RMB 623.1 million in the previous year[2]. - The realized revenue for the fiscal year was RMB 857.4 million, reflecting a growth of 20.0% from RMB 714.4 million in the prior year[2]. - The group recorded a gross profit of RMB 331.7 million, up 27.9% from RMB 259.3 million in the previous year, with a gross profit margin of 38.7%, an increase of 2.4 percentage points from 36.3%[2]. - The profit attributable to equity holders of the parent company was RMB 137.2 million, significantly higher than RMB 48.5 million in the previous year[2]. - The total comprehensive income for the year was RMB 190.4 million, compared to RMB 34.7 million in the previous year[4]. - The company reported other income and gains of RMB 117.5 million, an increase from RMB 66.1 million in the previous year[3]. - Total revenue for the year ended December 31, 2023, reached RMB 857,395,000, with external sales to customers amounting to RMB 566,683,000 in the railway business and RMB 290,712,000 in the energy business[27]. - The company reported a pre-tax profit of RMB 202,591,000, reflecting a strong performance in both segments[27]. - The company reported a net profit of RMB 102,456,000 before tax, indicating a solid operational performance[29]. - The company reported a net profit attributable to shareholders of RMB 137,197,000 for the year, compared to RMB 48,490,000 in the previous year, representing a significant increase[42]. - Basic earnings per share increased to RMB 0.0812 from RMB 0.0291 year-over-year, reflecting a growth of approximately 178%[42]. - The company reported a net profit of RMB 186,800,000 for the year, a significant increase from RMB 93,800,000 in the previous year, representing a growth of 99%[105]. Assets and Liabilities - The total uncompleted contract amount as of December 31, 2023, was RMB 675.1 million, representing a 13.5% increase from RMB 595.0 million at the end of the previous year[2]. - Total assets decreased from RMB 2,069,260,000 to RMB 1,897,376,000, reflecting a decline of approximately 8.3% year-over-year[7]. - Non-current assets increased from RMB 1,138,654,000 to RMB 1,032,052,000, indicating a decrease of about 9.4%[6]. - Current assets rose significantly from RMB 1,959,197,000 to RMB 1,809,138,000, showing a growth of approximately 8.3%[6]. - Total liabilities decreased from RMB 943,814,000 to RMB 1,028,591,000, representing a decline of around 8.2%[7]. - The company's net asset value increased from RMB 2,064,759,000 to RMB 1,895,533,000, marking a growth of about 8.9%[7]. - The company's cash and cash equivalents rose from RMB 483,768,000 to RMB 295,622,000, reflecting a decrease of approximately 38.9%[6]. - The total equity attributable to shareholders increased from RMB 1,927,888,000 to RMB 1,779,460,000, indicating a growth of about 8.3%[7]. - The company's total current liabilities increased from RMB 434,725,000 to RMB 308,548,000, representing a growth of around 40.8%[6]. - The company's total non-current liabilities decreased from RMB 4,501,000 to RMB 1,843,000, indicating a decline of approximately 59.0%[7]. Business Segments - The company primarily operates in the railway and power sectors, providing infrastructure technology-related products, professional solutions, and services[10]. - The railway business includes sales of railway communication products and energy-based products, as well as maintenance services and technical consulting for railway customers[12][23]. - The energy business focuses on providing products and professional solutions related to electrical equipment, including transmission and transformation equipment, power generation equipment, and energy-saving services[12][24]. - The railway segment reported revenue of RMB 566.7 million, an increase of 41.8% compared to the previous year, driven by a recovery in domestic production and investment in fixed assets[80]. - The energy segment generated revenue of RMB 290.7 million, showing stability despite a slight decrease from the previous year's RMB 314.8 million[80]. - The products and professional solutions segment achieved revenue of RMB 536,600,000, an increase of RMB 164,200,000 or 44.1% year-over-year, driven by the recovery of the domestic railway market[83]. - The value-added operations and services segment confirmed revenue of RMB 320,800,000, a decrease of RMB 21,300,000 or 6.2% from the previous year, mainly due to reduced recovery service revenue from the Hlawga power plant[85]. Market Expansion and Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to enhance its service offerings[2]. - The financial results indicate a strong growth trajectory, positioning the company favorably for future opportunities in the smart transportation sector[2]. - The group is actively expanding its new energy business, including photovoltaic power generation and energy management contracts, laying a solid foundation for future growth[78]. - The total investment in national railway construction is expected to exceed RMB 800 billion in 2024, marking the highest level in four years, which presents significant opportunities for the group[74]. - The group is negotiating a contract renewal with the Myanmar Ministry of Electricity for the Ahlone 151,000 kW power plant, which has been operational since January 2021[76]. - The group has successfully entered multiple overseas high-speed rail projects, including the Malaysia East Coast Rail Link, and plans to increase investment in international railway markets[75]. - The group anticipates the rollout of 5G-R technology in railway communication systems by 2024, which will enhance operational efficiency and safety[74]. Shareholder Information - The company proposed a final dividend of HKD 0.0227 per ordinary share, equivalent to RMB 0.0206, subject to approval at the upcoming annual general meeting[41]. - The average number of ordinary shares issued during the year was 1,686,924,102, slightly up from 1,665,090,974 shares in the previous year[42]. - The board proposed a final dividend of HKD 0.0227 per share, subject to shareholder approval at the annual general meeting on May 27, 2024[124]. Impairment and Credit Risk - The company experienced a net impairment loss on financial and contractual assets amounting to RMB (44,708,000)[27]. - The impairment loss provision for trade receivables increased to RMB 94,672 thousand as of December 31, 2023, compared to RMB 73,968 thousand at the end of the previous year, reflecting a rise of 28%[47]. - The expected credit loss rate for trade receivables, excluding a specific entity, was reported at 53.23% for the current year, indicating a significant credit risk[50]. - The company utilized a provisioning matrix for impairment analysis, which reflects the probability-weighted results and current economic conditions[51]. - The total credit risk data for other entities indicates a non-performing loan ratio of 1.23% for loans overdue less than one year, with an amount of RMB 210,746,000[57]. Corporate Governance and Compliance - The consolidated financial statements are prepared in accordance with International Financial Reporting Standards and presented in Renminbi (RMB), rounded to the nearest thousand RMB[11][12]. - The report emphasizes the importance of disclosing significant accounting policy information as per the revised standards[13]. - The audit committee has reviewed the financial reporting procedures and internal control systems for the year[129]. - The external auditor, Zhongshen Zhonghuan, has agreed that the financial figures in the consolidated financial statements are consistent with the draft financial statements for the year[133].

Financial Performance - Revenue for the period reached RMB 346.1 million, up 42.1% from RMB 243.6 million in the previous year[8] - The company recorded a gross profit of RMB 136.7 million, an increase of 17.9% from RMB 115.9 million year-on-year, with a gross margin of 39.5%, down from 47.6%[8] - Profit attributable to the owners of the parent was RMB 55.1 million, compared to a loss of RMB 6 million in the same period last year[8] - The total revenue for the group in the first half of 2023 was RMB 346.1 million, an increase of RMB 102.5 million or 42.1% from RMB 243.6 million in the same period of 2022[21] - The profit attributable to owners of the parent for the first half was RMB 55,100,000, a significant turnaround from a loss of RMB 6,000,000 in the same period last year, driven by increased revenue and gross profit[47] - Net profit for the period was RMB 77,746,000, a substantial increase from RMB 21,468,000, reflecting a year-over-year growth of 262.5%[121] - Basic earnings per share rose to RMB 0.03, compared to a loss of RMB 0.00 in the previous year[119] - The company reported a profit of RMB 55,106,000 for the six months ended June 30, 2023, compared to a loss of RMB 5,959,000 in the same period of 2022, indicating a significant turnaround in performance[132] Contract and Revenue Growth - The company signed new contracts amounting to RMB 357.1 million, a 65.5% increase compared to RMB 215.8 million in the same period last year[8] - The railway business saw a 125.8% increase in new contracts signed compared to the same period last year, with revenue growth of 62.3%[11] - In the first half of 2023, the railway segment achieved revenue of RMB 210.8 million, an increase of RMB 80.9 million or 62.3% compared to the same period last year[22] - The power segment reported revenue of RMB 135.3 million, up RMB 21.5 million or 18.9% year-on-year, primarily due to the Hlawga power plant project achieving combined cycle generation[23] - The group signed new contracts worth RMB 229.9 million in the railway segment, an increase of RMB 128.1 million compared to the previous year[22] Cost and Profitability Analysis - The gross profit for the first half of 2023 was RMB 136.7 million, a 17.9% increase from RMB 115.9 million in the same period last year, with a gross margin of 39.5%[28] - The railway segment's gross profit was RMB 46.2 million, up RMB 19 million, with a gross margin of 21.9%, an increase of 0.9 percentage points year-on-year[30] - The power segment's gross profit was RMB 90.4 million, an increase of RMB 1.7 million, but the gross margin decreased to 66.8%, down 11.2 percentage points from the previous year[30] - The company incurred a total of RMB 33,726,000 in cash outflows from investing activities during the first half of 2023, compared to RMB 81,519,000 in the same period of 2022, indicating a reduction in investment expenditures[137] Financial Position and Liquidity - As of June 30, 2023, the company's cash net amount was RMB 178,700,000, an increase of RMB 1,400,000 from the end of the previous year[53] - The current ratio as of June 30, 2023, was 2.1, up from 1.9 at the end of the previous year, indicating a solid financial position[53] - Current liabilities decreased to RMB 872,475,000 from RMB 943,814,000, indicating improved liquidity management[127] - The company’s cash and cash equivalents at the end of June 2023 stood at RMB 323,855,000, a decrease from RMB 340,180,000 at the end of June 2022[137] Investment and Strategic Initiatives - The company acquired a 55% stake in Beijing Jiujian Technology Co., Ltd. in July 2023 to expand its renewable energy business and enhance its core competitiveness[18] - The group plans to continue investing in railway communication systems and is expected to benefit from the upcoming LTE-R network construction starting in 2024[15] - The company is focused on expanding its market share in the railway communication segment and enhancing its service offerings[11] - The company continues to focus on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[111] Shareholder and Governance Matters - The board does not recommend the payment of an interim dividend for the current period, consistent with the previous year[65] - The company emphasizes good corporate governance practices, adhering to the corporate governance code as per the Hong Kong Stock Exchange[106] - The company has adopted a share incentive plan prior to its initial public offering, aimed at recognizing and rewarding eligible participants contributing to business growth[77] Risk Management and Financial Instruments - The company did not use any derivative financial instruments to hedge risks during the first half of the year, maintaining a prudent financial policy[54] - The group has not entered into any agreements or purchased instruments to hedge against foreign exchange risks during the review period[55] - The company continues to monitor foreign exchange risks and will consider prudent measures when appropriate[55]

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，並表明概不就因本 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。 China ITS (Holdings) Co., Ltd. 中 国 智 能 交 通 系 统（控 股）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1900） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 期 間 中 期 業 績 公 告 二零二三年中期業績概要 中國智能交通系統（控股）有限公司（「本公司」）及其子公司（統稱「本集團」） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 期 間（「本 期 間」或「上 半 年」）的 業 績概要如下： • 本集團已簽訂新合約金額為人民幣357,100,000元(1)，而去年同期已簽 訂新合約金額為人民幣215,800,000元，比去年同期增加65.5%。 • 實 現 收 益 為 人 民 幣346,100,000元， 而 去 年 同 期 收 益 為 人 民 幣 243,600,000元，比去年同期增加42.1%。 ...

Financial Performance - The total new contracts signed by the group amounted to RMB 623.1 million, a decrease of 18.0% compared to RMB 760 million in the previous year[9]. - The group's revenue for the year was RMB 714.4 million, down 3.5% from RMB 740.3 million in the previous year[9]. - The group recorded an uncompleted contract amount of RMB 595 million, a decrease of 18.4% from RMB 729.1 million at the end of the previous year[9]. - The gross profit for the group was RMB 259.3 million, down 3.0% from RMB 267.3 million in the previous year, with a gross profit margin of 36.3%, slightly up from 36.1%[9]. - Profit attributable to owners of the parent was RMB 48.5 million, a decrease of 34.9% from RMB 74.5 million in the previous year[9]. - Revenue from the railway segment was RMB 399.6 million, a decrease of 27.5% year-on-year[23]. - Revenue from the power segment increased to RMB 314.8 million, a rise of 66.6% compared to the previous year[24]. - The company’s product and professional solutions revenue was RMB 372.4 million, down 22.7% year-on-year[28]. - The value-added operations and services revenue increased to RMB 342.1 million, an increase of 32.2% year-on-year[29]. - Revenue from power plant projects confirmed at RMB 214 million, an increase of RMB 25 million or 13.2% compared to the previous year[30]. Assets and Liabilities - Total assets as of December 31, 2022, were RMB 2,841.2 million, down from RMB 3,055.6 million in the previous year[12]. - Net assets increased to RMB 1,895.5 million from RMB 1,854.4 million in the previous year[12]. - The group achieved a net cash position of RMB 177.3 million, a significant improvement from a net cash position of RMB 33.4 million in the previous year[12]. - The leverage ratio decreased to -10.7% from -3.3%, a decline of 7.4 percentage points year-on-year[56]. - The group had no significant contingent liabilities as of December 31, 2022[61]. Operational Efficiency - Selling, distribution, and administrative expenses were approximately RMB 131.3 million, a decrease of RMB 16.8 million due to cost control measures related to COVID-19[41]. - Net impairment losses on financial and contract assets were approximately RMB 5.8 million, a decrease of RMB 8.4 million from the previous year[44]. - Financial costs decreased to approximately RMB 11.9 million, down RMB 6.1 million due to reduced interest expenses from lower bank loans[47]. - Income tax expense for the year was RMB 8.7 million, a significant decrease from RMB 35.8 million in the previous year[48]. - Inventory turnover days increased to 296 days from 211 days year-on-year due to a significant decrease in railway segment revenue[52]. - Trade receivables turnover days decreased to 325 days from 344 days year-on-year as trade receivables decreased[53]. - Current ratio improved to 1.9 from 1.8 year-on-year, indicating a stable financial condition[56]. - Cash and cash equivalents increased to RMB 177,300,000 from RMB 33,400,000 year-on-year, a rise of RMB 143,900,000[56]. Strategic Initiatives - The group plans to focus on expanding its market presence and enhancing its technological capabilities in the upcoming fiscal year[8]. - The company is actively pursuing new product development and strategic partnerships to drive future growth[8]. - The company is actively exploring new products and markets, maintaining a high market share in the railway communication segment despite challenges[17]. Corporate Governance - The company has complied with all relevant laws and regulations in mainland China and Myanmar as of the report date[79]. - The company has established a voting agreement among major shareholders to facilitate management and operations[132]. - The company has adopted the corporate governance code as per the listing rules and has complied with it throughout the year ending December 31, 2022[156]. - The board of directors consists of five members, including two executive directors and three independent non-executive directors[160]. - The company has established three committees: audit committee, remuneration committee, and nomination committee to support the board's effectiveness[159]. - The company maintained a whistleblowing mechanism for employees to report concerns regarding financial reporting and internal controls[180]. Shareholder Information - Major shareholders include Holdco, which holds 645,912,777 shares, representing 38.54% of the issued share capital[132]. - The company did not purchase, sell, or redeem any of its listed securities during the year ended December 31, 2022[135]. - The total sales to the top five customers accounted for approximately 54.5% of the company's total revenue, with the largest customer contributing about 42.8%[139]. - The total purchases from the top five suppliers represented approximately 33.1% of the company's total procurement, with the largest supplier accounting for about 12.5%[139]. Employee and Management Information - The company employed 228 full-time employees as of December 31, 2022[102]. - The company has adopted a pre-IPO share incentive plan and stock option plan to motivate directors and eligible employees[102]. - The company regularly reviews and adjusts the compensation of directors and senior management based on individual performance and market trends[101]. - All current directors participated in professional development training to enhance their knowledge and skills regarding their roles and responsibilities[192].

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，並表明概不就因本 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。 China ITS (Holdings) Co., Ltd. 中 国 智 能 交 通 系 统（控 股）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1900） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 經 審 核 的 年 度 業 績 公 告 二零二二年年度業績概要 中國智能交通系統（控股）有限公司（「本公司」）及其子公司（統稱「本集團」） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度（「本 年 度」或「二 零 二 二 年 度」） 的業績概要如下： • 本集團已簽訂新合約金額為人民幣623,100,000元(1)，而上一年度已簽 訂新合約金額為人民幣760,000,000元，比上一年度減少18.0%。 • 實 現 收 益 為 人 民 幣714,400,000元， 而 上 一 年 度 收 益 為 人 民 幣 740,300,000元，比上一年度減少 ...

Financial Performance - The total new contracts signed by the company amounted to RMB 215,800,000, a decrease of 24.1% compared to the same period last year[10]. - The company's revenue for the period was RMB 243,600,000, representing a decrease of 21.8% year-on-year[11]. - The loss attributable to equity holders of the parent company was RMB 6,000,000, compared to a profit of RMB 29,600,000 in the same period last year[12]. - The decline in railway business contracts was attributed to a decrease in fixed asset investment in railways and delays in project bidding due to the pandemic[22]. - Total revenue for the first half of the year was RMB 243.6 million, down from RMB 311.4 million in the same period last year, reflecting a decline of 21.8%[26]. - The company reported a net profit of RMB 21,468,000 for the six months ended June 30, 2022, compared to RMB 41,737,000 in the previous year, indicating a decline of 48.6%[141]. - The earnings attributable to the owners of the company were a loss of RMB 5,959,000, contrasting with a profit of RMB 29,639,000 in the same period last year[141]. - The group reported financial income of RMB 2,094 thousand, a decrease from RMB 3,033 thousand in the previous year[188]. Revenue Breakdown - The power segment reported a revenue of RMB 113.8 million, an increase of RMB 16.3 million or 16.7% compared to the same period last year, primarily due to the growth in revenue from the AHLONE power plant and the commencement of single-cycle power generation at the Hlawga project in Myanmar[28]. - The railway segment confirmed a revenue of RMB 129.9 million, a decrease of RMB 84.1 million or 39.3% year-on-year, attributed to the impact of COVID-19 on the railway communication market and delays in project deliveries[27]. - The value-added operations and services segment reported a revenue of RMB 126.2 million, an increase of RMB 2.9 million or 2.4% year-on-year[34]. - The product and professional solutions segment confirmed a revenue of RMB 117.4 million, a decrease of RMB 70.8 million or 37.6% compared to the same period last year[33]. - The railway business generated revenue of RMB 129,850 thousand, while the power business contributed RMB 113,784 thousand[180]. Profitability and Margins - The gross profit recorded was RMB 115,900,000, remaining stable compared to the same period last year, with a gross margin of 47.6%, an increase of 10.3 percentage points year-on-year[12]. - The gross profit for the first half was RMB 115.9 million, with a gross margin of 47.6%, up from 37.3% in the previous year[37]. - The gross profit from the power segment was RMB 88.7 million, an increase of RMB 13.8 million, with a gross margin of 78.0%, up from 76.9% year-on-year[40]. - The gross profit from the railway segment was RMB 27.2 million, a decrease of RMB 14.2 million, with a gross margin of 21.0%, an increase of 1.7 percentage points compared to the previous year[39]. Expenses and Costs - Selling expenses and administrative costs amounted to approximately RMB 53.8 million, an increase of RMB 1.6 million compared to the previous year[47]. - The sales and administrative expenses related to daily operations for the first half of the year amounted to RMB 61,400,000, an increase of RMB 4,800,000 compared to RMB 56,600,000 in the same period last year[51]. - The net financial expenses for the first half of the year were RMB 3,700,000, a decrease of RMB 3,600,000 from the previous year, primarily due to reduced interest expenses from decreased bank loans[51]. - The company reported a depreciation and amortization expense of RMB 21,836,000, which is an increase of 24.9% from RMB 17,557,000 in the previous year[157]. - The company’s financial costs decreased to RMB 5,767,000 from RMB 10,322,000, representing a reduction of 44.8%[157]. Taxation - The total income tax expense for the first half of the year was RMB 3,900,000, down from RMB 19,100,000 in the same period last year, mainly due to reduced tax expenses from Myanmar[53]. - The company's income tax expense for the six months ended June 30, 2022, was RMB 3,935,000, a decrease of 79.4% compared to RMB 19,094,000 for the same period in 2021[198]. - The current income tax for China was RMB 1,625,000, down from RMB 5,325,000 in the previous year, indicating a significant reduction in tax liabilities[198]. Shareholder Information - Mr. Jiang Hailin holds a beneficial interest in 645,912,777 shares, representing 38.54% of the company[71]. - Mr. Liao Jie holds a beneficial interest in 105,758,203 shares, representing 6.31% of the company[71]. - Major shareholders include Holdco, which holds 645,912,777 shares, representing 38.54% of the issued share capital[110]. - Central Huijin Investment Co., Ltd. and China Construction Bank Corporation each hold 215,000,000 shares, accounting for 12.83% of the issued share capital[110]. - Joyful Business Holdings Limited holds 105,758,203 shares, representing 6.31% of the issued share capital[110]. Cash Flow and Liquidity - The group's cash net amount increased to RMB 38,600,000 from RMB 33,400,000 at the end of the previous year, an increase of RMB 5,200,000[60]. - The total cash and cash equivalents at the end of the period were RMB 340,180,000, up from RMB 184,192,000 at the end of the same period last year, reflecting a 84.5% increase[159]. - The cash flow from financing activities showed a net inflow of RMB 44,690,000, a significant improvement from RMB (16,392,000) in the prior year[159]. - The company’s cash flow from operating activities netted RMB 61,129,000, a significant increase from RMB 19,257,000 in the same period last year[157]. Corporate Governance - The company has maintained compliance with corporate governance codes throughout the reporting period[126]. - The audit committee has reviewed the accounting principles and internal controls for the unaudited interim results for the six months ending June 30, 2022[69]. - The board does not recommend the payment of an interim dividend for the six-month period ending June 30, 2022[68].

Financial Performance - The total new contracts signed by the group amounted to RMB 760 million, a decrease of 22.7% compared to the previous year[21]. - The group's revenue for the year was RMB 740.3 million, representing a decrease of 20.4% year-on-year[21]. - As of December 31, 2021, the group recorded an uncompleted contract amount of RMB 729.1 million, down 8.5% from the end of the previous year[21]. - The group achieved a gross profit of RMB 267.3 million, an increase of 39.6% compared to the previous year, with a gross profit margin of 36.1%, up 15.5 percentage points year-on-year[21]. - Profit attributable to owners of the parent was RMB 74.5 million, a significant recovery from a loss of RMB 177.1 million in the previous year[21]. - The company achieved revenue of RMB 740.3 million, down 20.4% year-on-year[39]. - The gross profit generated was RMB 267.3 million, an increase of 39.6%, with the gross margin rising from 20.6% to 36.1%[39]. - The profit attributable to the owners of the parent company was RMB 74.5 million, compared to a loss of RMB 177.1 million in the previous year[39]. - Total revenue for the year was RMB 930,536,000, down from RMB 1,000,000,000 in the previous year[53]. - The gross profit for the year was RMB 267,300,000, an increase of RMB 75,800,000, with a gross margin rising from 20.6% to 36.1%[60]. Segment Performance - The railway segment reported revenue of RMB 551,300,000, a decrease of RMB 237,400,000 or 30.1% compared to the previous year, primarily due to the impact of COVID-19 on the railway communication market[48]. - The power segment achieved revenue of RMB 189,000,000, an increase of RMB 47,100,000 or 33.2%, attributed to the successful operation of the Myanmar power plant project[49]. - The value-added operations and services segment reported revenue of RMB 258,800,000, an increase of RMB 102,600,000 or 65.7%[55]. - The gross profit margin for the railway segment improved to 22.7%, up 7.2 percentage points from the previous year, while the power segment's gross profit margin increased to 75.3%, up 26.3 percentage points[62][63]. Cash and Assets - The total assets as of December 31, 2021, were RMB 3,055.6 million, down from RMB 3,483.2 million in 2020[39]. - The net cash position improved to RMB 33.4 million from a negative RMB 183.8 million in the previous year[39]. - As of December 31, the group's cash net amount was RMB 33,400,000, an increase of RMB 217,200,000 from a negative cash net amount of RMB 183,800,000 at the end of the previous year[90]. - The group's current ratio was 1.8, down from 1.5 at the end of the previous year, indicating a stable financial condition[89]. Expenses and Taxation - Net financial expenses for the year were RMB 11,100,000, a decrease of RMB 11,600,000 due to reduced interest expenses from lower bank loans[77]. - The company reported a significant reduction in sales and administrative expenses, totaling RMB 166,300,000, down RMB 163,200,000 from the previous year[71]. - The total income tax expense for the year was RMB 35,800,000, up from RMB 23,100,000 in the previous year, primarily due to a significant increase in the group's profits[81]. Employee and Management Information - As of December 31, 2021, the group employed 258 full-time employees[137]. - The remuneration of directors and senior management is determined based on individual performance and market trends[134]. - The company has no directors with service contracts that cannot be terminated within one year without compensation[133]. - The company has adopted pre-IPO share incentive plans and stock option plans to motivate directors and eligible employees[137]. Shareholder Information - Major shareholders include Holdco with 645,912,777 shares, representing 39.05% of the issued share capital[176]. - Central Huijin Investment Ltd. holds 215,000,000 shares, accounting for 12.99% of the issued share capital[176]. - Joyful Business Holdings Limited owns 105,758,203 shares, which is 6.39% of the issued share capital[176]. - Penbay Investments Limited has a stake of 98,613,367 shares, representing 5.96% of the issued share capital[176]. Corporate Governance - The company has complied with all relevant laws and regulations in mainland China as of the report date[107]. - The company has no arrangements for indemnifying directors against liabilities arising from their duties[130]. - The company has not engaged in any arrangements allowing directors or executives to benefit from acquiring shares or bonds of the company during the reporting period[128]. Future Plans and Investments - The company plans to develop the Hlawga power plant restoration project in Myanmar, expected to commence operations in 2022[44]. - The group plans to continue investing in appropriate financial products, primarily focusing on low-risk short-term financial investments to utilize idle cash[195]. - The group’s financial performance and investment strategies are aligned with its goal of maximizing returns while managing risks effectively[195]. Non-Competition Agreement - The company entered into a non-competition agreement with Beijing Ruihua Ying Technology Development Co., Ltd. to avoid potential competition in the transportation industry[200]. - The non-competition agreement aims to prevent potential conflicts of interest involving executive directors who have stakes in both the company and Beijing Ruihua Ying[200].

HIH 中国智能交通系统(控股)有限公司 China ITS (Holdings) Co., Ltd. (於開曼群島註冊成立的有限公司) 股份代號：1900 中 期 報 告 202 1 目 錄 公司资料 2 財務摘要 5 管理層討論及分析 6 董事會報告 14 簡明綜合損益表 23 簡明綜合全面收益表 24 簡明綜合財務狀況表 25 簡明綜合權益變動表 27 簡明綜合現金流量表 28 簡明綜合財務報表附註 30 授權代表 董事會 執行董事 廖杰先生(董事會主席) 姜海林先生(行政總裁) 獨立非執行董事 葉舟先生 王冬先生(CICPA, CIMA, AAIA, CGMA) 周建民先生 公司秘書 梁銘樞先生(FCCA, FCPA) | --- | --- | |------------------------------------------------|--------------------------| | | | | 姜海林先生 | 香港主要營業地點 | | 中國 | 香港 | | 北京市 | 灣仔 | | 海淀區八里莊北里1號 | 駱克道 20–24 號 | | 8樓1門102號 | 金星大廈8樓 | ...

HTH 中国智能交通系统(控股)有限公司 China ITS (Holdings) Co., Ltd. China ITS (Holdings) Co., Ltd. 股份代號:1900 ■ I ■ ■ ■ ■ ■ ■ l L ■ ■ ■ ■ 年報 1 0000 l 目 錄 公司資料2 | --- | --- | |-------------------------------|-------| | | | | | | | 財 務 概 要 | 5 | | 財 務 摘 要 | 6 | | 主 席 報 告 | 8 | | 管 理 層 討 論 及 分 析 | 10 | | 董 事 會 報 告 | 17 | | 企 業 管 治 報 告 | 31 | | 環 境 、 社 會 及 管 治 報 告 | 42 | | 董 事 及 高 級 管 理 層 | 92 | | 獨 立 核 數 師 報 告 | 96 | | 綜 合 損 益 表 | 103 | | 綜 合 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 | 1 ...