Revenue and Profitability - For the six months ended June 30, 2024, the total revenue of Bonny International Holding Limited was approximately RMB 143.9 million, an increase of about 49.1% compared to approximately RMB 96.5 million in the same period last year[11]. - The ODM product segment generated revenue of approximately RMB 125.3 million, representing a significant increase of about 68.4% from approximately RMB 74.4 million in the previous year[12]. - The company recorded a profit attributable to the owners of the parent of approximately RMB 5.3 million, a substantial improvement from a loss of approximately RMB 14.6 million in the same period of 2023[11]. - The gross profit margin for the reporting period was approximately 29.2%, up from about 26.0% in the same period last year, primarily due to a focus on product gross margins and a decrease in the market price of key raw materials[16]. - The company reported a pre-tax profit of RMB 5,524 thousand, a significant recovery from a loss of RMB 15,552 thousand in the prior year[53]. - Net profit for the period was RMB 5,339 thousand, compared to a loss of RMB 14,556 thousand in the previous year[54]. - Basic and diluted earnings per share for the six months ended June 30, 2024, was RMB 0.4 cents, a turnaround from a loss of RMB 1.2 cents per share in 2023[53]. Sales Performance - The company's overseas sales revenue was approximately RMB 94.8 million, with the top three export destinations being the United States (40.0%), Germany (25.9%), and Canada (15.6%) of total overseas sales revenue[11]. - The company experienced a decline in domestic ODM sales revenue due to poor performance on e-commerce platforms, leading to increased inventory and reduced orders[14]. - Revenue from external customers in mainland China decreased to RMB 49,146 thousand from RMB 65,812 thousand year-over-year[69]. - Revenue from the United States increased significantly to RMB 37,903 thousand from RMB 12,405 thousand year-over-year[69]. - ODM product sales accounted for RMB 125,297 thousand, while brand product sales were RMB 18,646 thousand for the six months ended June 30, 2024[73]. Expenses and Financial Position - Sales and distribution expenses were approximately RMB 20.2 million, consistent with approximately RMB 20.0 million in the same period last year, mainly including personnel costs of about RMB 9.9 million[18]. - Administrative and other expenses were approximately RMB 23.5 million, a slight increase from approximately RMB 23.2 million in the same period last year, with personnel costs rising by about RMB 1.4 million due to increased social security base[19]. - Financial costs increased by approximately RMB 1.3 million or about 59.1% to RMB 3.5 million, mainly due to the completion of the third phase of the Beiyuan production base, with interest on special loans no longer capitalized[20]. - The group recorded interest-bearing liabilities of approximately RMB 156.2 million as of June 30, 2024, up from approximately RMB 133.6 million as of December 31, 2023, with an annual interest rate ranging from about 4.25% to 4.85%[25]. - Current liabilities rose to RMB 254,852 thousand from RMB 187,391 thousand, reflecting increased operational activities[56]. - The group reported a total employee benefit expense of RMB 36,834,000 for the first half of 2024, compared to RMB 28,790,000 in 2023, marking a 28.1% increase[75]. Cash Flow and Investments - Cash flow from operating activities showed a net outflow of RMB 13,426,000 for the first half of 2024, a significant decline from a net inflow of RMB 8,993,000 in the previous year[61]. - The company generated RMB 4,153,000 from the sale of properties, plants, and equipment during the first half of 2024, compared to a net cash outflow of RMB 11,246,000 in the same period of 2023[62]. - The group made capital expenditures of RMB 4,824,000 during the first half of 2024, compared to RMB 2,009,000 in the same period of 2023, indicating a focus on asset acquisition[84]. - The group aims to develop new customers and secure new orders to enhance operational cash flow and meet financial obligations[65]. Corporate Governance and Compliance - The company has complied with all applicable corporate governance codes, except for the provision C.2.1, which allows the same individual to hold the positions of Chairman and CEO[36]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim financial information for the six months ended June 30, 2024[37]. - The group did not declare or pay any dividends during the reporting period[81]. Shareholder Information - As of June 30, 2024, Mr. Jin holds 634,500,000 shares, representing 52.87% of the issued shares[42]. - Maximax Holding Corporation, owned by Mr. Jin, is a major shareholder with 634,500,000 shares, also representing 52.87%[46]. - The total number of issued shares as of June 30, 2024, is 1,200,000,000[42]. - The average number of ordinary shares in issue remained constant at 1,200,000,000 shares for both 2024 and 2023, indicating no changes in share capital[82][83].

Financial Performance - Revenue for the six months ended June 30, 2024, reached RMB 143,943,000, representing a 49.3% increase from RMB 96,462,000 in the same period of 2023[1] - Gross profit for the same period was RMB 42,017,000, up 67.5% from RMB 25,068,000 year-on-year[1] - The company reported a profit before tax of RMB 5,524,000, a significant recovery from a loss of RMB 15,552,000 in the previous year[2] - Net profit for the period was RMB 5,339,000, compared to a loss of RMB 14,556,000 in 2023, indicating a turnaround in financial performance[2] - Basic and diluted earnings per share for the period were RMB 0.4 cents, recovering from a loss of RMB 1.2 cents per share in the previous year[3] - The group's pre-tax profit for the six months ended June 30, 2024, was RMB 5,341,000, compared to a loss of RMB 14,622,000 for the same period in 2023, indicating a significant turnaround[21] - The company recorded a profit attributable to equity holders of approximately RMB 5.3 million, a significant improvement from a loss of approximately RMB 14.6 million in the same period last year[30] Revenue Breakdown - ODM product sales accounted for RMB 125,297 thousand, while brand product sales were RMB 18,646 thousand for the six months ended June 30, 2024[11] - Revenue from the United States increased significantly to RMB 37,903 thousand for the six months ended June 30, 2024, compared to RMB 12,405 thousand in the same period of 2023[12] - The geographical breakdown of revenue shows a decline in mainland China revenue to RMB 49,146 thousand for the six months ended June 30, 2024, from RMB 65,812 thousand in the same period of 2023[12] - Export sales accounted for approximately RMB 94.8 million, with the top three destination countries being the United States (40.0%), Germany (25.9%), and Canada (15.6%) of total overseas sales[30] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 452,545,000, slightly down from RMB 459,417,000 at the end of 2023[5] - Current liabilities increased to RMB 254,852,000 from RMB 187,391,000, reflecting a rise in trade payables and other payables[5] - The company has a net current liability of RMB 72,181,000, indicating a need for careful cash flow management[6] - Trade receivables at the end of the reporting period amounted to RMB 69,783,000, significantly higher than RMB 33,783,000 at the end of 2023, suggesting improved sales performance[23] - The group reported a total of RMB 40,818,000 in trade payables at the end of June 30, 2024, compared to RMB 30,740,000 at the end of 2023, indicating increased liabilities[24] - The group’s interest-bearing liabilities amounted to approximately RMB 156.2 million as of June 30, 2024, compared to approximately RMB 133.6 million as of December 31, 2023[43] Costs and Expenses - Financial costs for the six months ended June 30, 2024, were RMB 3,547 thousand, compared to RMB 2,155 thousand for the same period in 2023[11] - Total employee benefits expenses, excluding directors and key management personnel, increased to RMB 36,834,000 for the six months ended June 30, 2024, from RMB 28,790,000 in 2023, reflecting a rise in workforce costs[16] - Sales and distribution expenses for the reporting period were approximately RMB 20.2 million, consistent with approximately RMB 20.0 million in the same period last year[36] - Administrative and other expenses for the reporting period were approximately RMB 23.5 million, an increase from approximately RMB 23.2 million in the same period last year[37] - Financial costs for the reporting period were approximately RMB 3.5 million, an increase of approximately RMB 1.3 million or about 59.1% from approximately RMB 2.2 million in the same period last year[38] Investments and R&D - The company is implementing a rights issue to improve its working capital and reduce capital expenditures[8] - Research and development costs increased to RMB 8,563,000 for the six months ended June 30, 2024, up from RMB 8,233,000 in the previous year, reflecting a focus on innovation[16] - The group purchased assets at a cost of RMB 4,824,000 for the six months ended June 30, 2024, compared to RMB 2,009,000 in the same period of 2023, indicating ongoing investment in infrastructure[22] - The group plans to enhance its R&D capabilities and product competitiveness to navigate the complex external environment and maintain a competitive edge[42] Governance and Compliance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, ensuring compliance with all applicable provisions except for C.2.1[53] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim financial information for the six months ending June 30, 2024, and confirmed compliance with applicable accounting standards[54] - The Remuneration Committee evaluates the performance of directors and senior management and makes recommendations regarding their compensation[55] - The Nomination Committee is responsible for recommending suitable candidates for the board and reviewing the board's structure and composition as needed[56] Dividends and Cash Reserves - The group did not declare or pay any dividends during the reporting period, maintaining cash reserves for future investments[20] - As of June 30, 2024, the group had cash and cash equivalents of approximately RMB 5.6 million, up from approximately RMB 3.6 million as of December 31, 2023[43] - The group had no significant contingent liabilities as of June 30, 2024[47] - No interim dividend was declared for the reporting period, remaining at zero for June 30, 2023[58]

Financial Performance - Total revenue for the year ended December 31, 2023, was approximately RMB 177.7 million, an increase of about 10.4% compared to RMB 160.9 million in 2022[9] - The company recorded a loss attributable to owners of approximately RMB 45.3 million for 2023, an improvement from a loss of RMB 70.9 million in 2022[9] - The gross profit for 2023 was RMB 41.7 million, compared to RMB 31.6 million in 2022, indicating a recovery in profitability[9] - Revenue for the reporting period was approximately RMB 177.7 million, an increase of about RMB 16.8 million or approximately 10.4% compared to the same period last year (RMB 160.9 million) [15] - ODM product segment revenue was approximately RMB 135.0 million, up about RMB 15.3 million or approximately 12.8% from last year's RMB 119.7 million, primarily due to increased export orders, particularly a 142.4% increase in orders to the United States [15] - Gross profit for the reporting period was approximately RMB 41.7 million, an increase of about RMB 10.1 million or approximately 32.0% compared to last year's RMB 31.6 million [17] - Other income and gains amounted to approximately RMB 18.7 million, an increase of about RMB 11.8 million or approximately 171.0% compared to last year's RMB 6.9 million, driven by increased rental income and a settlement agreement resulting in RMB 3.5 million in litigation compensation [18] - Administrative and other expenses decreased by approximately RMB 9.2 million or about 14.7%, totaling RMB 53.2 million compared to RMB 62.4 million last year [20] - Financial costs increased by approximately RMB 1.4 million or about 30.4%, reaching RMB 6.0 million compared to RMB 4.6 million last year, mainly due to the cessation of interest capitalization on a specific construction loan [21] Store Operations - The company closed 32 underperforming stores and opened 23 new stores, resulting in a total of 111 self-operated retail stores and 12 franchise stores as of December 31, 2023[10] - As of December 31, 2023, the company operates a total of 111 retail stores across 12 provinces, municipalities, and autonomous regions in China[122] Workforce and Employment - The company maintained a workforce of 607 full-time employees as of December 31, 2023, a decrease from 642 employees in 2022[14] - The employee distribution as of December 31, 2023, includes 262 males and 345 females, totaling 607 full-time employees[195] - The overall employee turnover rate for 2023 is 77%, with male turnover at 85% and female turnover at 71%[195] - The total amount of employee compensation is based on performance, qualifications, and the company's operational performance, with no payments made to the top five highest-paid individuals during the reporting period[38] - The company provides competitive benefits to attract and retain talent, ensuring compliance with local labor laws[198] - The company adheres to fair and just principles in recruitment and promotion, ensuring equal opportunities for all employees regardless of various factors[200] - Recruitment channels include job fairs, internal referrals, online job postings, advertisements, headhunting, and campus recruitment[200] - The company has established an Employee Performance Assessment Management System to guide performance evaluations[200] - Performance evaluations are conducted annually to assess employee performance comprehensively[200] - Promotion opportunities are based on individual performance and skills, ensuring equal chances for all employees to showcase their expertise[200] - The Human Resources Department uses assessment results as a basis for promotions, salary increases, rewards, transfers, and training[200] Research and Development - Research and development expenses for product design and development were approximately RMB 17.1 million in 2023, down from RMB 21.2 million in 2022[11] - The company has invested $5 million in research and development for new technologies aimed at improving production processes[64] - New product development initiatives are underway, focusing on innovative materials that are expected to enhance product quality and customer satisfaction[64] Corporate Governance - The board consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors[70] - The company has adopted a strict code of conduct for securities trading by directors, ensuring compliance with the listing rules[69] - All independent non-executive directors have confirmed their independence according to the listing rules, ensuring effective governance and oversight[73] - The company has established a three-year service agreement for all directors, with provisions for reappointment and termination[74] - The board is responsible for the overall development strategy and financial performance monitoring of the group[77] - The company has arranged appropriate directors' liability insurance to cover responsibilities arising from company activities[81] - All directors participated in training related to their duties and responsibilities during the reporting period[82] - The company has complied with all applicable corporate governance codes, with the exception of a specific provision regarding the dual role of the chairman and CEO[68] - The nomination committee is responsible for reviewing the composition of the board and overseeing the appointment of directors[76] - The board will review its structure periodically to ensure an appropriate balance of power between the board and management[72] - The company held four board meetings and one annual general meeting during the reporting period, with all executive directors attending all meetings[84] - The Nomination Committee reviewed the board's structure, size, and composition, and assessed the independence of independent non-executive directors during its meeting[87] - The board currently consists of seven directors, with five male and two female members, reflecting a commitment to gender diversity[88] - The Nomination Policy has been formally adopted to ensure a balanced skill set and diverse perspectives among board members[91] - The company aims to maintain gender diversity in its hiring and management policies as part of its business development strategy[89] - The Nomination Committee is composed of one executive director and two independent non-executive directors, with the executive director serving as the chair[87] - The board is satisfied with the current gender diversity situation and aims to continue this trend in future appointments[88] - The company emphasizes the importance of character, integrity, and relevant qualifications in the selection of board candidates[92] - The Nomination Committee will recommend candidates for election or re-election at the shareholders' meeting as necessary[93] Environmental, Social, and Governance (ESG) Commitments - The company is committed to disclosing its environmental, social, and governance (ESG) policies and performance to stakeholders[123] - The company emphasizes integrating sustainable development strategies into its business operations[122] - The report period covers from January 1, 2023, to December 31, 2023, with a consistent disclosure of social and environmental key performance indicators[124] - The company has established a comprehensive quality and environmental management manual to assess and mitigate identified environmental risks[136] - The company is committed to sustainable development by optimizing its environmental, social, and governance mechanisms, and has engaged Riskory Consultancy Limited for advisory services[140] - The company aims to increase the production of garments that meet green and low-carbon requirements by researching sustainable technologies such as energy-saving dyeing and recycling of used fibers[141] - The company has established communication channels with stakeholders to understand their needs and expectations, facilitating sustainable development[149] - Key ESG issues identified include waste management, climate change response, supply chain management, product quality, and employee welfare[155] - The company emphasizes fair employment opportunities and community engagement as part of its ESG commitments[155] - The company has established policies to protect customer privacy and ensure that personal data is handled with care[173] Quality Management - The company has implemented strict quality management systems, including policies for production management and product recall, to ensure customer confidence in product safety[161] - The company has established strict quality assurance standards for its production processes and requires suppliers to meet the same quality management regulations[164] - During the reporting period, the company did not receive any fines or product recall orders from regulatory authorities due to product quality issues[167] - The company conducts annual assessments of its business partners based on criteria including supply capacity, production capability, and product quality[182] - The company has implemented a recall system for defective products to manage product safety risks[167] - The company provides regular internal training for retail staff to maintain service quality and enhance customer satisfaction[168] - The company adheres to the Consumer Rights Protection Law of the People's Republic of China to ensure a safe shopping environment for customers[172] - The company has not received any significant complaints regarding health or safety issues from customers during the reporting period[172] Supply Chain Management - The company collaborates with 199 suppliers, with 195 from mainland China, 3 from Hong Kong, and 1 from South Korea, to ensure a sustainable supply chain[182] - The company prioritizes suppliers that comply with local environmental policies, integrating sustainability into its supply chain[186] - The procurement department conducts regular assessments of suppliers' delivery capabilities, impacting their inspection levels and order ratios[188] - The company has established a comprehensive supplier management system to enhance supplier evaluation and compliance[186]

Financial Performance - The company's revenue for the year ended December 31, 2023, was RMB 177,671,000, an increase of 10.4% compared to RMB 160,910,000 in 2022[13] - Gross profit for the same period was RMB 41,668,000, representing a gross margin of 23.4%, up from RMB 31,644,000 in 2022[13] - The company reported a loss before tax of RMB 40,224,000, significantly improved from a loss of RMB 71,332,000 in the previous year, indicating a reduction of 43.6%[14] - The net loss attributable to equity holders of the parent for 2023 was RMB 45,271,000, compared to RMB 70,935,000 in 2022, reflecting a decrease of 36.3%[14] - The operating performance for ODM products showed a profit of RMB 27,194,000, while the brand products segment reported a loss of RMB 25,685,000, resulting in a total segment performance of RMB 1,509,000[45] - The company reported a pre-tax loss of RMB 40,224,000 for the year ended December 31, 2023, compared to a pre-tax loss of RMB 71,332,000 in 2022, indicating an improvement in financial performance[45] - The company reported other comprehensive income of RMB 72,267,000 for the year, compared to a loss of RMB 55,792,000 in the previous year, indicating a significant recovery[33] - Total other income increased to RMB 15,072,000 in 2023 from RMB 6,846,000 in 2022, representing a growth of 119.3%[51] - The total gain from other income and gains reached RMB 18,742,000 in 2023, up from RMB 6,912,000 in 2022, indicating a growth of 171.5%[51] Assets and Liabilities - As of December 31, 2023, the total interest-bearing bank and other borrowings amounted to RMB 133,587,000, with RMB 91,032,000 due within the next twelve months[9] - The company's net current liabilities were RMB 58,726,000, an increase from RMB 25,948,000 in 2022, indicating a potential liquidity concern[16] - The total assets less current liabilities stood at RMB 400,691,000, up from RMB 380,296,000 in the previous year, showing growth in asset management[16] - The company has maintained a strong equity position with total equity of RMB 312,677,000, compared to RMB 289,941,000 in 2022, reflecting a growth of 7.8%[16] - The total non-current assets increased to RMB 459,417,000 in 2023 from RMB 406,244,000 in 2022, reflecting a growth of approximately 13.1%[34] - The company’s total assets as of December 31, 2023, were RMB 497,937,000, compared to RMB 451,438,000 as of December 31, 2022, reflecting an increase of 10.3%[64] - The company’s total liabilities as of December 31, 2023, were RMB 60,168 million, down from RMB 88,530 million in 2022, representing a decrease of 32.0%[147] - The company’s total liabilities as of December 31, 2023, were RMB 133,587 million, a decrease from RMB 144,240 million in 2022[165] Inventory and Capital Expenditures - Inventory decreased to RMB 83,367,000 in 2023 from RMB 109,884,000 in 2022, a reduction of about 24.2%[34] - Capital expenditures for the year were RMB 16,285,000, with RMB 16,261,000 allocated to ODM products and RMB 24,000 to brand products[45] - The company’s inventory turnover improved, with inventory at RMB 9,882 million as of January 1, 2022, and a significant reduction in inventory levels noted in subsequent periods[132] Employee and Operational Metrics - The number of full-time employees decreased to 607 as of December 31, 2023, from 642 in 2022, with employee benefit expenses amounting to approximately RMB 59.4 million[196] - During the reporting period, the company closed 32 underperforming stores and opened 23 new stores, resulting in a total of 111 self-operated retail stores and 12 franchise stores as of December 31, 2023[166] Research and Development - Research and development costs for the year ended December 31, 2023, amounted to RMB 11,269,000, a decrease from RMB 12,573,000 in 2022[80] - Research and development expenses for product design and development were approximately RMB 171 million, down from RMB 212 million in 2022[168] Taxation - The total tax expense for the year was RMB 4,986,000, compared to a tax credit of RMB 390,000 in 2022[58] - The company’s tax losses in mainland China amounted to RMB 151,422 million, compared to RMB 100,990 million in 2022[160] - The company's income tax expense for the reporting period was approximately RMB 5.0 million, compared to a tax credit of RMB 0.4 million in the same period last year[179] Impairment and Provisions - The company recognized a net impairment loss of RMB 2,907,000, with RMB 844,000 related to ODM products and RMB 2,063,000 related to brand products[45] - The group recognized impairment provisions of RMB 902,000 for ODM cash-generating units and RMB 1,069,000 for brand cash-generating units for the year ended December 31, 2023, compared to RMB 2,537,000 and RMB 215,000 in 2022 respectively[66] - The company recognized an impairment loss of RMB 661,000 for the year 2023, down from RMB 1,092,000 in 2022[102] - The company recognized a loss of RMB 9,800 million due to impairment from a supplier undergoing liquidation, which was not present in the previous year[146] Shareholder Information - The average number of ordinary shares issued remained stable at 1,200,000,000 for both 2023 and 2022[62] - The company did not declare or pay any dividends during the reporting period[60] - The company reported a total of 1,200,000,000 shares issued and fully paid, remaining unchanged from the previous year[138] Other Financial Metrics - The company had unutilized bank financing of RMB 77,000,000 as of the reporting date, which is expected to support debt obligations and capital expenditure needs[39] - The company’s deferred tax liabilities totaled RMB 18,589 million as of December 31, 2023[158] - The company’s provision for trade receivables impairment increased to RMB 1,875,000 in 2023 from RMB 1,732,000 in 2022[116] - The expected credit loss for trade receivables was RMB 1,458 million in 2023, compared to RMB 1,875 million in 2022, showing a decrease of 22.2%[145] - The company’s contract liabilities decreased significantly from RMB 15,320 million in 2022 to RMB 3,687 million in 2023, a reduction of 76.0%[148]

Financial Performance - The company's revenue for the reporting period was approximately RMB 965 million, an increase of about RMB 105 million or approximately 12.2% compared to RMB 860 million in the same period last year[15]. - Gross profit for the reporting period was approximately RMB 251 million, an increase of about RMB 49 million or approximately 24.3% compared to RMB 202 million in the same period last year, primarily due to a 19.2% increase in ODM segment revenue[16]. - The brand products segment revenue was approximately RMB 221 million, a decrease of about RMB 15 million or approximately 6.4% compared to RMB 236 million in the same period last year, with a total of 123 retail stores as of June 30, 2023, a decrease of 19 stores year-on-year[30]. - Other income and gains for the reporting period were approximately RMB 47 million, an increase of about RMB 14 million or approximately 42.4% compared to RMB 33 million in the same period last year, mainly due to new property rental income of approximately RMB 20 million[31]. - The company reported a loss attributable to equity holders of approximately RMB 146 million for the reporting period, an improvement of about RMB 89 million compared to a loss of RMB 235 million in the same period last year[34]. - The company reported a total comprehensive income of RMB 76,305,000 for the six months ended June 30, 2023, compared to a total comprehensive income of RMB 90,585,000 in the previous period[133]. - The company reported a pre-tax loss of RMB 15,552,000 for the six months ended June 30, 2023[144]. - The company reported a net loss for the period of RMB 14,556 thousand, compared to a net loss of RMB 23,459 thousand in the previous year, indicating a reduction of 37.9%[99]. Operational Efficiency - The company has been focusing on reducing distribution channels and optimizing product launch and delisting timing to improve store performance[30]. - The company has benefited from an improved consumer environment and reduced inventory pressure, leading to a sales revenue increase of approximately 12.2% year-on-year[19]. - The company closed 19 retail stores during the reporting period, reducing the total number of stores from 142 to 123[49]. - The group’s sales and distribution expenses were approximately RMB 20.0 million, a decrease of about 9.5% from RMB 22.1 million in the previous year[53]. - The production equipment utilization rate was about 70% in the first half of 2023, sufficient to meet current order production requirements without the need for capacity expansion[80]. - The company has recognized a property revaluation gain of RMB 90,585,000 during the reporting period[133]. Cash Flow and Financial Position - As of June 30, 2023, the group had cash and cash equivalents of approximately RMB 1.0 million, down from RMB 6.5 million as of December 31, 2022[37]. - The group’s interest-bearing liabilities were approximately RMB 144.6 million as of June 30, 2023, compared to RMB 144.2 million as of December 31, 2022[37]. - The group’s debt-to-equity ratio was approximately 43.0% as of June 30, 2023, down from 47.1% as of December 31, 2022[37]. - The company’s cash flow management indicates sufficient operating capital to meet financial obligations in the foreseeable future[139]. - Cash flow from investing activities showed a net outflow of RMB 11,246,000, a decrease from RMB 33,005,000 in the prior year, indicating improved cash management[158]. - The company has unutilized bank financing of RMB 7,000,000 to meet debt obligations and capital expenditure needs[160]. - The company plans to leverage new construction as collateral to secure additional bank financing of at least RMB 40,000,000[160]. Research and Development - The company spent approximately RMB 8.2 million on product design and R&D during the reporting period, down from RMB 13.1 million in 2022[78]. - The company plans to continue focusing on R&D to improve product quality, functionality, and design[79]. - Research and development expenses decreased to RMB 8,233 thousand for the six months ended June 30, 2023, compared to RMB 13,082 thousand in the same period of 2022, reflecting a reduction of approximately 37.5%[177]. Market and Growth Strategy - The company aims to seek new growth opportunities amidst challenges in the post-pandemic era and intends to adjust its layout accordingly[5]. - Revenue from external customers in mainland China reached RMB 65,812,000, an increase of 22% from RMB 53,908,000 in the same period last year[146]. - Revenue from the domestic market in China reached RMB 65,812,000, accounting for approximately 68.3% of total revenue[168]. - ODM product sales amounted to RMB 74,383,000, while brand product sales were RMB 22,079,000, indicating a strong performance in ODM products[168]. Corporate Governance and Compliance - The audit committee reviewed the unaudited interim financial information for the six months ended June 30, 2023, and confirmed compliance with applicable accounting standards[88]. - The board of directors confirmed adherence to the corporate governance code during the reporting period[87]. - The company did not declare an interim dividend for the reporting period, consistent with the previous year[90]. - The company has no significant contingent liabilities as of June 30, 2023[60]. - The company has no major investments or capital asset plans beyond those disclosed in the interim financial statements[65]. - The company has no plans to purchase, sell, or redeem any of its listed securities during the reporting period[84].

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。 BONNY INTERNATIONAL HOLDING LIMITED 博 尼 國 際 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1906） 截至2023年6月30日止六個月 中期業績公告 博尼國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其附屬公司 （統稱為「本集團」）截至2023年6月30日止六個月（「報告期間」）的未經審核綜合業績，連 同2022年同期的比較數字載列如下： 中期簡明綜合損益表 截至2023年6月30日止六個月－未經審核 截至6月30日止六個月 2023年 2022年 （未經審核） （未經審核） 附註 人民幣千元 人民幣千元 收入 4 96,462 86,027 ...

Employee Management - The company employed a total of 642 full-time employees as of December 31, 2022, all from mainland China[26]. - The company has a robust training program for frontline employees to ensure consistent service quality and brand image[33]. - The company emphasizes the importance of employee training and development to enhance performance and adapt to market changes[96]. - Employee training programs are in place, with a focus on enhancing knowledge and skills, although specific training percentages were not disclosed[124]. - The company is focused on maintaining a safe and fair workplace, promoting employee diversity, and providing competitive compensation[96]. Supplier Management - The company evaluated 20 major suppliers during the reporting period to ensure quality and delivery standards[21]. - The company has established a comprehensive management system for supplier management, including procurement and evaluation processes[21]. - The largest supplier contributed 10% to the group's procurement, with the top five suppliers together accounting for 37%[171]. Environmental Management - The company has implemented strict wastewater control measures, ensuring daily discharge does not exceed national limits[39]. - The company is committed to reducing waste emissions and has implemented measures to manage harmful waste effectively[37]. - Nitrogen oxides emissions decreased from 1,261.91 kg in 2021 to 388.86 kg in 2022, a reduction of approximately 69.1%[40]. - Sulfur oxides emissions decreased from 236.51 kg in 2021 to 52.35 kg in 2022, a reduction of approximately 77.9%[40]. - Total greenhouse gas emissions decreased from 6,734.46 metric tons CO2 equivalent in 2021 to 4,084.12 metric tons CO2 equivalent in 2022, a reduction of approximately 39.3%[40]. - Direct emissions (Scope 1) decreased from 1,325.78 metric tons CO2 equivalent in 2021 to 326.41 metric tons CO2 equivalent in 2022, a reduction of approximately 75.5%[40]. - Water consumption decreased from 129,160 cubic meters in 2021 to 71,751 cubic meters in 2022, a reduction of approximately 44.3%[47]. - Water consumption density improved from 519.17 cubic meters per million RMB revenue in 2021 to 445.91 cubic meters per million RMB revenue in 2022, an improvement of approximately 14.1%[47]. - The company is committed to reducing packaging materials to minimize environmental impact, focusing on materials such as paper, plastic, and metal[48]. - The company has implemented various waste reduction measures, including recycling initiatives and promoting digital communication to reduce paper usage[67]. - The company has obtained ISO 14001:2015 environmental management system certification to ensure compliance with environmental regulations[66]. - The company emphasizes the importance of environmental management and has established policies for air and noise management[79]. - The board continuously monitors climate-related risk management systems and improves relevant policies to address potential threats from climate change[78]. - The company aims to reduce waste and has set targets for waste reduction and resource efficiency[87]. - The total amount of packaging materials used in production is tracked, with a focus on reducing environmental impact[88]. - The company is committed to using sustainably sourced packaging materials whenever feasible[77]. - The company has established energy efficiency goals and measures to achieve these targets[87]. - The company has implemented strict environmental protection measures and has not violated any significant environmental regulations during the reporting period[98]. - The company is focusing on developing eco-friendly clothing products and plans to invest more in technology for sustainable materials due to increasing market demand for green products[105]. - The company is actively researching and applying technologies for energy-saving dyeing and recycling of old fibers to increase the production of environmentally friendly clothing[105]. Financial Management - As of December 31, 2022, the company's trade receivables net value was approximately RMB 32,576,000, accounting for 5.7% of total assets[83]. - The company reported a provision for impairment losses on trade receivables amounting to RMB 1,732,000[83]. - The net value of other receivables, after deducting impairment losses, was approximately RMB 4,281,000[83]. - The management regularly evaluates the recoverability and adequacy of impairment provisions for trade receivables based on various factors[129]. - The company’s cash flow situation and capital expenditure plans are under continuous review to ensure financial stability[126]. - The independent auditor's report highlighted the importance of assessing the reasonableness of key assumptions used in impairment evaluations[131]. - The company reported a total revenue of RMB 295,311,000 as of December 31, 2022, after accounting for impairment provisions of RMB 19,722,000[131]. - The impairment provision for traditional business and related sectors amounted to RMB 2,752,000 and RMB 16,970,000 respectively, based on fair value assessments[131]. - The group faced risks related to fluctuations in raw material prices, which could significantly impact business and financial performance[140]. - The group has not purchased, sold, or redeemed any of its listed securities during the reporting period[157]. - The group has a public float that meets the requirements set by the listing rules as of the report date[173]. - The group has not issued any bonds during the reporting period[185]. - The total number of issued shares as of December 31, 2022, was 1,200,000,000 shares[190]. - The shareholding of Maximax Holding Corporation, a major shareholder, is 634,500,000 shares, representing 52.88%[187]. - The group has a significant shareholder, Jin Guojun, holding 634,500,000 shares, which is 52.88% of the total shares[187]. - Jin Xiaohong holds 63,000,000 shares, representing 5.25% of the total shares[190]. - The group has established a share option scheme to reward employees and other selected participants for their contributions[192]. - The share option scheme allows participation from suppliers, customers, and business partners of the group[194]. - The maximum number of shares that may be issued upon the exercise of stock options granted under the stock option plan shall not exceed 30% of the company's issued share capital at any time, and shall not exceed 120,000,000 shares[195]. - The total number of shares issued and to be issued due to the exercise of stock options granted to participants within any 12-month period shall not exceed 1% of the company's issued share capital at that time[196]. - If stock options are granted to major shareholders or independent non-executive directors resulting in the total shares issued and to be issued exceeding 0.1% of the issued shares, further grants must be approved by shareholders at a general meeting[198]. - The nominal consideration for accepting the granted stock options is HKD 1[200]. Community Engagement - The company is committed to community development and has donated to local charities to support various community projects[107]. - The group made a charitable donation of RMB 0.1 million during the reporting period[158]. - The company has established a community investment policy to engage with local communities and consider their interests in business activities[118]. Compliance and Risk Management - The company has not reported any significant violations related to child labor or forced labor laws during the reporting period[27]. - The company has a policy in place to prevent child labor and forced labor, ensuring compliance with relevant laws and regulations[90]. - The company has not encountered any significant non-compliance issues that could impact its business operations during the reporting period[96]. - The board is responsible for ensuring compliance with relevant laws and regulations, impacting relationships with customers, suppliers, and employees[120]. - The group has maintained its external auditor without changes over the past three years[147]. - The independent auditor, Ernst & Young, has audited the consolidated financial statements for the reporting period[147]. - There were no significant transactions or contracts involving major shareholders during the reporting period[165]. - The board does not recommend the payment of a final dividend for the reporting period[142]. - The board considered future operations and profitability when deciding on dividend payments[143]. - The group has a three-year service contract with its directors, which can be terminated with prior notice[164].

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。 BONNY INTERNATIONAL HOLDING LIMITED 博 尼 國 際 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1906） 截至2022年12月31日止年度的年度業績公告 博尼國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其附屬 公司（統稱為「本集團」）截至2022年12月31日止年度（「報告期」）的經審核綜合業績，連 同截至2021年12月31日止年度（「去年同期」）的比較數字載列如下： 綜合損益表 截至2022年12月31日止年度 2022年 2021年 附註 人民幣千元 人民幣千元 收入 4 160,910 248,784 銷售成本 (129,266) (183,125) ...

Financial Performance - The total revenue for the group was approximately RMB 86.0 million, a decrease of about 31.3% compared to RMB 125.3 million in the same period last year[9] - The gross profit recorded was approximately RMB 20.2 million, with a gross margin of about 23.4%, down from 26.7% in the previous year[9] - The group reported a loss attributable to equity holders of approximately RMB 23.5 million, compared to a profit of RMB 9.5 million in the same period last year[9] - Revenue for the reporting period was approximately RMB 86.0 million, a decrease of about RMB 39.3 million or 31.3% compared to RMB 125.3 million in the same period last year[19] - ODM product segment revenue was approximately RMB 62.4 million, down by about RMB 33.0 million or 34.6% from RMB 95.4 million year-on-year[19] - Brand product segment revenue decreased to approximately RMB 23.6 million, a reduction of about RMB 6.2 million or 20.8% from RMB 29.8 million in the previous year[21] - Gross profit for the reporting period was approximately RMB 20.2 million, a decline of about RMB 13.2 million or 39.5% from RMB 33.4 million year-on-year[22] - Other income and gains fell to approximately RMB 3.3 million, a decrease of about RMB 27.7 million or 89.4% compared to RMB 31.0 million in the previous year[23] - The group reported a total comprehensive loss attributable to equity holders of approximately RMB 23.1 million, a decrease of about RMB 40.6 million from a profit of RMB 17.5 million in the same period last year[30] - The company reported a loss before tax of RMB 29,276 thousand compared to a profit of RMB 9,186 thousand in the previous year[82] - The company experienced a net loss of RMB 23,455 thousand during the period, compared to a profit of RMB 9,468 thousand for the same period in 2021, indicating a significant downturn in performance[92] Operational Changes - The number of self-operated retail stores decreased from 179 to 142, including 116 self-operated stores and 26 franchised stores as of June 30, 2022[12] - The group continues to streamline its retail network by closing underperforming stores as part of a cost-reduction plan initiated at the beginning of 2022[12] - The group plans to adjust its business model by cutting unprofitable lines and focusing on effective customer orders to enhance cash flow and profitability[31] - The group aims to maintain cash flow and reduce operating costs in response to the challenging economic environment[32] Investment and Financing - As of June 30, 2022, the company had cash and cash equivalents of approximately RMB 72 million, a decrease from RMB 87 million as of December 31, 2021[34] - Interest-bearing liabilities amounted to approximately RMB 151.3 million as of June 30, 2022, compared to RMB 144.8 million as of December 31, 2021, with an interest rate ranging from approximately 4.35% to 6.0%[34] - The company's debt-to-equity ratio was approximately 42.8% as of June 30, 2022, up from 40.8% as of December 31, 2021[34] - Total capital commitments were RMB 37.4 million as of June 30, 2022, down from RMB 58.5 million as of December 31, 2021, primarily related to the construction of the Beiyuan production base[37] - The net proceeds from the IPO amounted to approximately HKD 131.3 million, with unutilized proceeds of HKD 3.8 million as of June 30, 2022[44] - Approximately 14.5% of the net proceeds from the IPO have been allocated to supplement working capital, with employee salaries and raw material procurement accounting for about 35% and 65%, respectively[48] - The company plans to establish a production base in Shangrao, Jiangxi, with an expected completion date before December 31, 2024[48] Corporate Governance - The board of directors has adopted high standards of corporate governance to protect shareholder interests and enhance corporate value[57] - The audit committee, composed of three independent non-executive directors, reviewed the unaudited interim financial statements for the six months ending June 30, 2022[59] - The company has complied with all applicable corporate governance code provisions during the reporting period[58] - The company has a share option scheme adopted on March 19, 2019, as a reward for directors and senior management[52] Market and Product Development - The group is focusing on brand management and increasing brand awareness through various promotional channels, including advertising and participation in fashion shows[11] - The group is expanding its online presence by collaborating with well-known e-commerce platforms and live-streaming promotion companies[12] - The group aims to enhance its manufacturing solutions for ODM clients in China and overseas, focusing on seamless and traditional intimate apparel products[8] - The group launched 110 different types of products during the reporting period, with R&D expenses amounting to RMB 13.1 million, an increase from RMB 12.1 million in 2021[13] - Research and development expenses increased to RMB 13,082,000 from RMB 12,076,000 year-over-year, highlighting the company's commitment to innovation[114] Employee and Workforce - The number of full-time employees decreased to approximately 650 as of June 30, 2022, down from 692 on December 31, 2021[18] - Total remuneration for key management personnel was RMB 1,096,000 for the six months ended June 30, 2022, down from RMB 1,301,000 in the same period of 2021[140] Assets and Liabilities - Non-current assets increased to RMB 395,451 thousand as of June 30, 2022, from RMB 355,815 thousand at the end of 2021, reflecting a growth of 11.1%[87] - Current assets decreased to RMB 184,872 thousand from RMB 237,916 thousand, a decline of 22.3%[87] - Total liabilities increased to RMB 257,738 thousand as of June 30, 2022, compared to RMB 248,998 thousand at the end of 2021[89] - The company's net asset value decreased to RMB 322,585 thousand from RMB 345,733 thousand, a reduction of 6.7%[89] - Trade receivables as of June 30, 2022, amounted to RMB 31,038,000, a decrease from RMB 65,058,000 at the end of 2021, indicating improved collection efficiency[128] - Trade payables as of June 30, 2022, were RMB 28,949,000, down from RMB 38,189,000 at the end of 2021, suggesting better cash flow management[129] Miscellaneous - The company did not declare an interim dividend for the reporting period, consistent with the previous year[62] - The company has not faced significant foreign exchange risks during the reporting period due to limited fluctuations in the exchange rates of RMB against USD and HKD[35] - The company had no significant acquisitions or disposals during the reporting period[36] - The company did not engage in any share buybacks or acquisitions during the reporting period[77] - There are no future plans for significant investments or capital assets beyond those disclosed in the prospectus and previous announcements[54] - The company has not made any significant investments in other companies during the reporting period[53] - The company reported no significant contingent liabilities as of June 30, 2022[132] - There were no events after the reporting period that required disclosure as of the approval date of the financial statements[144]

Financial Performance - The company recorded a loss attributable to equity holders of approximately RMB 6.5 million for the year ended December 31, 2021, compared to a profit of RMB 48.3 million in 2020[16]. - The group's total revenue for the reporting period was approximately RMB 248.8 million, a decrease of about 13.6% compared to RMB 287.8 million in the same period last year[31]. - The gross profit recorded was approximately RMB 65.7 million, with a gross margin of about 26.4%, down from 40.9% in the previous year[31]. - The group reported a loss attributable to equity holders of approximately RMB 6.5 million, compared to a profit of RMB 48.3 million in the previous year[31]. - ODM product segment revenue was approximately RMB 194.3 million, a decrease of about 16.5% from RMB 232.6 million in the previous year, primarily due to the absence of mask sales and the impact of COVID-19[31]. - Brand product segment revenue was approximately RMB 54.5 million, a slight decrease of about 1.4% from RMB 55.2 million in the previous year[34]. - Gross profit for the reporting period was approximately RMB 65.7 million, a decrease of about RMB 52 million or 44.2% compared to the same period last year, primarily due to the absence of sales revenue from high-margin mask products and increased production costs[35]. - Other income and gains for the reporting period were approximately RMB 34.2 million, a decrease of about RMB 41.9 million or 55.1% compared to the same period last year, mainly due to lower government subsidy income[36]. Operational Challenges - The production cost increased by approximately RMB 20 million due to rising labor and material costs, with a turnover rate of over 40% for frontline production staff[16]. - The company acknowledges the challenges posed by the COVID-19 pandemic and rising costs, which have impacted sales performance in both ODM and brand sales segments[16]. - The total number of retail stores decreased from 179 as of December 31, 2020, to 165 as of December 31, 2021, due to the closure of underperforming stores during the COVID-19 pandemic[26]. Strategic Initiatives - The company plans to actively cooperate with quality international brand partners to ensure a stable increase in overseas ODM order volume[18]. - The company aims to significantly develop online retail channels to quickly respond to differentiated consumer demands and create "hit" products to boost online sales[18]. - The company intends to close loss-making self-operated brand stores on schedule to enhance the profitability of remaining stores[18]. - The company will compress management costs and strengthen procurement cost control to optimize production processes and improve efficiency[18]. - The group invested approximately RMB 25.7 million in product design and R&D during the reporting period, up from RMB 20.7 million in the previous year[27]. - The group plans to continue focusing on R&D to improve product quality, functionality, and design, enhancing its R&D capabilities[27]. Management and Governance - The company has over 20 years of experience in the intimate apparel manufacturing industry, established in 2001[72]. - The financial director has over 30 years of experience in accounting and textile industry management, ensuring robust financial oversight[75]. - The company has expanded its management team with experienced professionals in finance and administration, enhancing operational efficiency[88]. - The company is focused on strategic management and operational guidance, leveraging the expertise of its non-executive directors[77]. - The company has a strong emphasis on compliance and internal management, with dedicated roles for financial strategy and internal compliance[75]. - The company has a diverse board with expertise in finance, law, and management, ensuring comprehensive oversight and strategic direction[82]. - The company has established a solid foundation for future growth through its experienced management team and strategic initiatives[88]. Corporate Governance - The company is committed to high standards of corporate governance, adhering to all applicable codes during the reporting period, except for a specific deviation noted in the corporate governance report[100]. - The chairman and CEO, Mr. Jin, continues to hold both positions due to his extensive experience, which the board believes benefits the company and its shareholders[105]. - Independent non-executive directors provide diverse business and financial expertise, contributing to effective governance and safeguarding shareholder interests[106]. - The company has implemented a standard code for securities trading by directors and senior management, ensuring compliance and transparency[101]. - The company has adopted the corporate governance code principles to regulate its business activities and decision-making processes appropriately[100]. - The board consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors, ensuring a balanced governance structure[101]. Future Plans and Investments - The company plans to establish a production base in Jiangxi Shangrao, with an expected utilization of HKD 5.5 million from the unutilized proceeds, and aims to complete this by 2024[61]. - The company has no major investments during the reporting period[67]. - There are no other future plans for significant investments or capital assets beyond those disclosed in the prospectus[68]. Environmental and Social Responsibility - The company aims to enhance its sustainable development practices and has appointed Riskory Consultancy Limited for ESG consulting services[200]. - The group is dedicated to implementing clean production and complying with local environmental laws and regulations[175].