Financial Performance - The group's revenue for the fiscal year 2024 was RMB 819.8 million, a decrease of 4.4% from RMB 857.4 million in the previous year[10]. - The gross profit for the fiscal year 2024 was RMB 305.3 million, down 8.0% from RMB 331.7 million in the previous year, with a gross margin of 37.2% compared to 38.7% in the previous year[10]. - The profit attributable to the owners of the parent company for the fiscal year 2024 was RMB 22.1 million, significantly lower than RMB 137.2 million in the previous year[10]. - The group reported a net profit of RMB 47,000,000 for the year, a decrease of RMB 139,800,000 compared to the previous year's profit of RMB 186,800,000[54]. - The fair value change loss of equity investments amounted to RMB 34,700,000, compared to a gain of RMB 80,400,000 in the previous year, resulting in a profit decrease of RMB 115,100,000[54]. - Other income and gains for the year amounted to RMB 35,700,000, a decrease of RMB 1,500,000 compared to the previous year[42]. Contracts and Revenue Streams - The total new contracts signed by the group for the fiscal year 2024 amounted to RMB 960.7 million, which is essentially flat compared to RMB 952.4 million in the previous year[10]. - The amount of uncompleted contracts as of December 31, 2024, was RMB 859.7 million, representing an increase of 27.3% from RMB 675.1 million at the end of the previous year[10]. - The company signed new contracts worth RMB 597,500,000 in the railway segment, a decrease of RMB 29,700,000 year-on-year[30]. - The company successfully signed contracts for several overseas railway projects, totaling RMB 334 million, accounting for 56% of the new railway contracts[18]. - The railway segment reported revenue of RMB 483,533,000, down 14.7% from RMB 566,683,000 in the previous year, primarily due to project delivery delays[30]. - The energy segment's revenue increased by 15.7% to RMB 336,254,000, driven by significant growth in the AHLONE power plant project and energy management services[31]. Assets and Liabilities - Total assets as of December 31, 2024, were RMB 2,838.3 million, down from RMB 3,097.9 million in the previous year[13]. - Net assets as of December 31, 2024, were RMB 2,001.1 million, a slight decrease from RMB 2,064.8 million in the previous year[13]. - The net cash position as of December 31, 2024, was RMB 161.4 million, down from RMB 248.6 million in the previous year[13]. - The group’s cash net amount as of December 31, 2024, was RMB 161,400,000, a decrease of RMB 87,200,000 from the previous year[60]. - The group has pledged assets including approximately RMB 77,600,000 in cash deposits and properties valued at approximately RMB 72,800,000 to secure bank financing[66]. Corporate Governance - The company has adopted and complied with the corporate governance code as per the listing rules throughout the reporting period[147]. - The board consists of five members, including two executive directors and three independent non-executive directors[157]. - The independent non-executive directors confirmed their independence and lack of financial interest in the company[167]. - The company ensured adequate resources for the Audit Committee to effectively fulfill its responsibilities, including professional advice when necessary[169]. - The board reviewed the company's corporate governance policies and compliance with legal regulations and standards[179]. Employee and Management Information - The company employed 350 full-time employees and 1 part-time employee as of December 31, 2024[104]. - The total compensation range for senior management is between HKD 1,000,001 (approximately RMB 912,700) and HKD 1,500,000 (approximately RMB 1,369,050) for 2 individuals[101]. - The company has established a retirement benefits plan for employees in China, who contribute a percentage of their salary[105]. - The company has adopted a pre-IPO share incentive plan and stock option plan to motivate directors and eligible employees[104]. Risks and Challenges - The group faces risks related to public spending on transportation infrastructure, which is influenced by the Chinese government's budget changes[72]. - The group is exposed to project delay risks and cost overruns due to fixed-price contracts requiring timely project completion[73]. Shareholder Information - The group did not recommend a final dividend for the year ending December 31, 2024, compared to a dividend of HKD 0.0227 per share in the previous year[70]. - The company emphasizes the importance of communication with shareholders, providing detailed voting procedures during the annual general meeting[193]. - The annual general meeting for 2024 will be announced at least 21 full days prior to the meeting date[194].

Financial Performance - The realized revenue for the year was RMB 819.8 million, a decrease of 4.4% from RMB 857.4 million in the previous year[3]. - The profit attributable to equity holders of the parent company was RMB 22.1 million, significantly lower than RMB 137.2 million in the previous year[3]. - The group’s total comprehensive income for the year was RMB 186.8 million, compared to RMB 46.98 million in the previous year[5]. - The basic earnings per share attributable to equity holders of the parent company was RMB 0.01, down from RMB 0.08 in the previous year[5]. - The company reported a pre-tax profit of RMB 70,628 thousand, indicating a positive performance despite financial challenges[25]. - The company reported a net profit of RMB 47,000,000 for the year, a decrease of RMB 139,800,000 compared to the previous year's profit of RMB 186,800,000[90]. Revenue Breakdown - The total revenue for the railway business reached RMB 483,533 thousand, while the energy business generated RMB 336,254 thousand, resulting in a combined total of RMB 819,787 thousand[25]. - The railway segment reported revenue of RMB 483.5 million, a decrease of 14.7% compared to the previous year, primarily due to delays in project deliveries[70]. - The energy segment achieved revenue of RMB 336.3 million, an increase of 15.7% year-over-year, driven by significant growth from the AHLONE power plant project[71]. - Revenue from product sales was RMB 536,570,000 in 2023, compared to RMB 451,491,000 in 2024, indicating a growth of approximately 18.9%[30]. - The company recognized total customer contract revenue of RMB 857,395,000 in 2023[29]. Contract and Asset Management - The total new contracts signed by the group amounted to RMB 960.7 million, remaining relatively stable compared to RMB 952.4 million in the previous year[3]. - The group recorded an uncompleted contract amount of RMB 859.7 million, an increase of 27.3% from RMB 675.1 million at the end of the previous year[3]. - The contract assets increased to RMB 292,826,000 in 2024 from RMB 172,584,000 in 2023, reflecting a significant growth[51]. - The expected conversion of contract assets to trade receivables is projected to be RMB 260,501,000 within one year and RMB 141,907,000 beyond one year[52]. Expenses and Liabilities - The total liabilities of the group increased, reflecting ongoing investments and operational costs[4]. - The total operating expenses for the year were RMB 10,073,000, with capital expenditures including property and equipment[26]. - The company incurred income tax expenses of RMB 23,653,000 for the year, compared to RMB 15,774,000 in the previous year, representing an increase of approximately 49.5%[36]. - Selling, distribution, and administrative expenses were approximately RMB 118,900,000, a decrease of RMB 11,000,000, due to enhanced cost control measures[82]. Cash Flow and Financial Position - The company's cash and cash equivalents decreased from 483,768 thousand RMB to 329,888 thousand RMB, a decline of approximately 31.9%[6]. - The group's cash balance decreased to RMB 161,400,000 from RMB 248,600,000 at the end of the previous year[95]. - As of December 31, 2024, the group has cash and cash equivalents amounting to approximately RMB 77.6 million, an increase from RMB 39.8 million as of December 31, 2023[100]. - The current ratio improved to 2.1 from 1.9 in the previous year, indicating a stable financial condition[95]. Investments and Strategic Initiatives - The company plans to focus on expanding its market presence and enhancing its technological capabilities in the upcoming fiscal year[3]. - The company is actively expanding its overseas railway market investments, particularly in key projects like the Hungary-Serbia railway[64]. - The company is focusing on developing new energy businesses, including photovoltaic power generation and energy management services[67]. - The company aims to leverage its self-developed integrated energy management platform to improve energy efficiency across its projects[69]. Impairment and Credit Risk - The impairment loss on trade receivables increased to RMB 129,494,000 from RMB 94,672,000 year-over-year[43]. - The expected credit loss for the current year was RMB 129,494,000, reflecting a significant increase from the previous year's RMB 94,672,000[45]. - The company anticipates continued challenges in managing credit risk due to economic conditions[44]. Corporate Governance and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and are presented in Renminbi (RMB) rounded to the nearest thousand[10]. - The consolidated financial statements for the year have been agreed upon by the external auditor, confirming consistency with the draft financial statements[119]. - The company expresses gratitude to the board, management, employees, shareholders, and business partners for their support[121].

Financial Performance - Revenue for the first half of 2024 was RMB 285.1 million, down 17.6% from RMB 346.1 million in the previous year[5]. - The company reported a loss attributable to equity holders of RMB 38.4 million, compared to a profit of RMB 55.1 million in the same period last year[7]. - Gross profit for the first half of 2024 was RMB 118.7 million, a decrease of 13.2% from RMB 136.7 million in the same period last year, with a gross margin of 41.6%, up from 39.5%[5]. - The company reported a total comprehensive loss for the period of RMB 25,480,000, a significant decline from a comprehensive income of RMB 94,885,000 in the previous year[82]. - The net loss for the first half of the year was RMB 27,900,000, a decrease of RMB 105,600,000 compared to a net profit of RMB 77,700,000 in the same period last year[41]. - The company incurred a loss before tax of RMB 24,037,000, compared to a profit of RMB 83,794,000 in the prior year[80]. - The company reported a basic loss attributable to owners of RMB 38,393,000 for the six months ended June 30, 2024, compared to a profit of RMB 55,106,000 for the same period in 2023[114]. Revenue Breakdown - The railway segment reported revenue of RMB 143.8 million, a decrease of RMB 67 million or 31.8% compared to the same period last year, primarily due to delays in overseas high-speed rail projects[19]. - The energy segment achieved revenue of RMB 141.3 million, an increase of RMB 6 million or 4.4% year-over-year, contributing positively to the overall performance[19]. - The railway business generated revenue of RMB 143,771 thousand, while the energy business contributed RMB 141,318 thousand, indicating a decline in both segments compared to the previous year[105]. Contracts and Projects - The company signed new contracts worth RMB 460.6 million in the first half of 2024, a 29.0% increase compared to RMB 357.1 million in the same period last year[5]. - As of June 30, 2024, the company recorded an uncompleted contract amount of RMB 870.2 million, an increase of 28.9% from RMB 675.1 million at the end of 2023[5]. - In the railway business, the company successfully signed a key project in Hungary and Serbia with a contract value of RMB 120 million, and a high-speed rail project in Malaysia worth RMB 204 million, accounting for 68.2% of new contracts signed during the period[10]. - The company has successfully signed contracts for multiple overseas high-speed rail projects, including the Hungary section of the Hungary-Serbia railway, which is expected to boost future revenue[14]. Market Expansion and Strategy - The company is actively expanding its overseas market in line with the national "Belt and Road" initiative[10]. - The company plans to continue its investment in overseas railway markets, leveraging the Belt and Road Initiative to expand its international presence[14]. - The company is actively expanding its renewable energy business, including solar power and energy management contracts, with new projects signed in various regions[17]. Financial Position and Assets - As of June 30, 2024, total non-current assets amounted to RMB 1,073,536,000, down from RMB 1,138,654,000 at the end of 2023[83]. - Current assets totaled RMB 1,896,314,000, a decrease from RMB 1,959,197,000 at the end of the previous year[83]. - The group’s current ratio was 2.0 as of June 30, 2024, compared to 1.9 at the end of the previous year, indicating a stable financial condition[46]. - The group’s cash and cash equivalents decreased to RMB 227,800,000 from RMB 248,600,000 at the end of the previous year[46]. - The company’s total liabilities decreased significantly, with interest-bearing bank borrowings amounting to RMB 285,066 thousand in the first half of 2024, compared to RMB 127,920 thousand in the same period of 2023[98]. Shareholder Information - As of June 30, 2024, the company has issued a total of 1,720,185,862 ordinary shares[56]. - Major shareholders include Holdco and Best Partners, each holding 645,912,777 shares, representing 37.55% of the issued share capital[56]. - The board does not recommend the payment of an interim dividend for the period, compared to no dividend in the same period last year[52]. Impairments and Losses - The company’s trade receivables impairment was RMB 9,205 thousand for the six months ended June 30, 2024, compared to RMB 42,683 thousand in the same period of 2023[97]. - The impairment of financial and contract assets amounted to RMB 9,119 thousand, which includes a loss of RMB 9,135 thousand from joint ventures[106]. - The gross profit margin for the energy segment was 59.0%, down 7.8 percentage points from the previous year, indicating challenges in maintaining profitability[26]. Investments and Acquisitions - The company has committed RMB 20 million to subscribe to a private equity fund focused on various financial products in the Chinese securities market[70]. - The company has agreed to acquire 7,050,000 shares of Hengtuo Kaiyuan Information Technology Co., Ltd., representing 5.02% of its issued shares, for a price of RMB 56.259 million, which will increase the company's ownership to 27.21%[152]. - Following the acquisition, the company will control six out of seven board member nominations at Hengtuo Kaiyuan, which will become a non-wholly owned subsidiary[152]. Cash Flow and Expenses - Operating cash flow before tax loss was RMB (24,037) thousand for the six months ended June 30, 2024, compared to RMB 83,794 thousand in the same period of 2023, indicating a significant decline[97]. - Net cash flow from operating activities was RMB (36,916) thousand for the six months ended June 30, 2024, down from RMB 139,985 thousand in the same period of 2023[97]. - The company reported a significant increase in depreciation and amortization expenses, rising to RMB 30,496 thousand in 2024 from RMB 27,516 thousand in 2023[97]. Employee and Management Compensation - The total remuneration paid to key management personnel for the six months ended June 30, 2024, was RMB 2,135,000, a decrease of 13.9% from RMB 2,481,000 in the same period of 2023[143].

Financial Performance - The actual revenue for the period was RMB 285.1 million, a decrease of 17.6% from RMB 346.1 million in the same period last year[1]. - The loss attributable to the owners of the parent company was RMB 38.4 million, compared to a profit of RMB 55.1 million in the same period last year[1]. - The group reported a net loss of RMB 27.9 million for the period, compared to a profit of RMB 77.7 million in the same period last year[3]. - The group’s total revenue for the first half of the year was RMB 285.1 million, down from RMB 346.1 million in the same period last year, reflecting a decline of approximately 17.6%[44]. - The group reported a significant impairment loss of RMB (9,119,000) related to financial and contract assets for the six months ending June 30, 2024, compared to RMB (13,866,000) in the same period of 2023[15]. - The group reported a net loss of RMB 27,900,000 for the first half of the year, a decrease of RMB 105,600,000 compared to a net profit of RMB 77,700,000 in the same period last year[62]. Revenue and Contracts - The new contract amount signed by the group in the first half of 2024 was RMB 460.6 million, an increase of 29.0% compared to RMB 357.1 million in the same period last year[1]. - As of June 30, 2024, the group recorded an uncompleted contract amount of RMB 870.2 million, up 28.9% from RMB 675.1 million as of December 31, 2023[1]. - The group successfully signed contracts for the Hungary-Serbia railway project worth RMB 120 million and the Malaysia East Coast Rail Link project worth RMB 204 million, representing 68.2% of new contracts signed in the period[36]. - The group’s new contracts in the railway business totaled RMB 299 million, an increase of 30.1% year-on-year[36]. Segment Performance - The segment performance for the railway business was RMB 10,599,000, while the energy business reported RMB 25,433,000, totaling RMB 36,032,000 for the six months ending June 30, 2024, compared to RMB 101,182,000 in 2023, indicating a significant drop in profitability[15]. - The railway segment reported revenue of RMB 143.8 million, a decrease of RMB 67 million or 31.8% compared to the same period last year, primarily due to significant overseas high-speed rail projects being in the delivery preparation stage[45]. - The energy segment achieved revenue of RMB 141.3 million, an increase of RMB 6 million or 4.4% year-on-year[45]. Gross Profit and Margins - The group achieved a gross profit of RMB 118.7 million, down 13.2% from RMB 136.7 million in the same period last year, with a gross profit margin of 41.6%, an increase of 2.1 percentage points from 39.5% last year[1]. - The gross profit for the first half of the year was RMB 118.7 million, a decrease of RMB 18 million compared to the previous year, while the gross profit margin improved to 41.6% from 39.5%[48]. - The railway segment reported a gross profit of RMB 35,400,000, a decrease of RMB 10,800,000 compared to the same period last year, with a gross margin of 24.6%, an increase of 2.7 percentage points year-on-year[50]. - The energy segment confirmed a gross profit of RMB 83,300,000, down RMB 7,100,000 from the previous year, with a gross margin of 59.0%, a decrease of 7.8 percentage points year-on-year[51]. Assets and Liabilities - Total current assets as of June 30, 2024, amounted to RMB 1,896.3 million, a decrease from RMB 1,959.2 million as of December 31, 2023[5]. - Non-current assets totaled RMB 1,073.5 million as of June 30, 2024, compared to RMB 1,138.7 million as of December 31, 2023[4]. - Total current liabilities amounted to RMB 964,295,000 as of June 30, 2024, compared to RMB 1,028,591,000 in the previous period, reflecting a decrease of approximately 6.3%[6]. - Total equity attributable to the company was RMB 2,005,555,000, a decrease from RMB 2,064,759,000, representing a reduction of approximately 2.9%[7]. Cash Flow and Financial Position - The company reported cash and cash equivalents of RMB 452,011,000 as of June 30, 2024, down from RMB 483,768,000 as of December 31, 2023[30]. - The current ratio improved to 2.0 from 1.9 at the end of the previous year, indicating a stable financial position[67]. - As of June 30, 2024, the group's cash net amount was RMB 227,800,000, a decrease of RMB 20,800,000 from the end of the previous year[67]. Corporate Governance and Compliance - The company emphasizes strong corporate governance practices to enhance accountability and transparency to shareholders[79]. - The board of directors confirms adherence to the standards for securities trading as per the listing rules throughout the reporting period[80]. - The audit committee, established in June 2010, reviews financial reporting procedures and internal control systems[81]. Employee and Shareholder Information - The company has a total of 325 full-time employees as of June 30, 2024[77]. - The company incurred a total of RMB 21,831,000 in wages and salaries for the six months ended June 30, 2024, compared to RMB 18,448,000 in the same period of 2023, reflecting an increase of approximately 18.5%[18]. - The company proposed a final dividend of HKD 0.0227 per ordinary share (RMB 0.0206), amounting to a total of RMB 35,526,000, subject to shareholder approval[27].

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 ...