Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of RMB 315,028,000, a decrease of 10.5% compared to RMB 351,767,000 in 2023[11]. - The company recorded a loss attributable to owners of the company of RMB 3,122,000 for 2024, compared to a profit of RMB 4,694,000 in 2023, indicating a significant decline in profitability[11]. - The company's revenue decreased by approximately 10.5% from RMB 351.8 million for the year ended December 31, 2023, to approximately RMB 315.0 million for the year ending December 31, 2024, primarily due to a decline in OEM product sales[15]. - Gross profit for the year ending December 31, 2024, was approximately RMB 87.4 million, a decrease of about 12.2% from approximately RMB 99.5 million for the year ended December 31, 2023, with gross margins remaining relatively stable at 27.7% and 28.3% respectively[17]. - The company recorded a net loss of approximately RMB 3.6 million for the year ending December 31, 2024, compared to a profit of approximately RMB 4.9 million for the year ended December 31, 2023, primarily due to an increase in expected credit loss provisions[23]. - Basic and diluted loss per share for 2024 was RMB (0.5), compared to earnings of RMB 0.6 per share in 2023[193]. - The company reported a pre-tax profit of RMB 1,495 thousand in 2024, down from RMB 11,064 thousand in 2023, a decline of about 86.5%[200]. Assets and Liabilities - Total assets increased to RMB 729,446,000 in 2024 from RMB 707,873,000 in 2023, reflecting a growth of approximately 3.0%[12]. - Current liabilities rose to RMB 199,548,000 in 2024, up from RMB 164,195,000 in 2023, representing an increase of about 21.5%[12]. - The company experienced an increase in non-current liabilities, which amounted to RMB 133,060,000 in 2024, compared to RMB 143,718,000 in 2023, showing a decrease of approximately 7.4%[12]. - As of December 31, 2024, the total borrowings of the group amounted to approximately RMB 254.7 million, a slight decrease from RMB 256.1 million as of December 31, 2023[31]. - The group's debt-to-equity ratio remained relatively stable at approximately 70.2% as of December 31, 2024, compared to 68.6% as of December 31, 2023[35]. - Total equity decreased from RMB 399,960 thousand in 2023 to RMB 396,838 thousand in 2024, a decline of approximately 0.5%[198]. Expenses and Income - The cost of sales decreased by about 9.8%, from approximately RMB 252.3 million for the year ended December 31, 2023, to approximately RMB 227.7 million for the year ending December 31, 2024, aligning with the revenue decline[16]. - Other income shifted from a net loss of approximately RMB 4.7 million for the year ended December 31, 2023, to a net income of approximately RMB 0.9 million for the year ending December 31, 2024, mainly due to a reduction in losses from sale-leaseback transactions[18]. - Selling expenses decreased from approximately RMB 34.8 million for the year ended December 31, 2023, to approximately RMB 31.4 million for the year ending December 31, 2024, primarily due to reduced marketing and promotional expenses[19]. - Administrative expenses decreased from approximately RMB 34.6 million for the year ended December 31, 2023, to approximately RMB 32.9 million for the year ending December 31, 2024, mainly due to a reduction in R&D expenses[20]. - The financing costs for 2024 were RMB 13,829 thousand, slightly up from RMB 13,587 thousand in 2023[193]. Market Strategy and Operations - The company aims to strengthen its existing business and provide stable returns and growth prospects for shareholders in the future[8]. - The company continues to focus on the production and sale of confectionery products, including gummy candies, tablet candies, and hard candies[13]. - The company is committed to expanding its market presence both domestically and internationally through its own brands and OEM partnerships[7]. - The company aims to strengthen its market position in China and expand into new markets with significant growth potential through enhanced marketing and product development strategies[14]. Corporate Governance - The company has adopted a corporate governance code that emphasizes transparency and accountability, aligning with the Stock Exchange's listing rules[70]. - The board believes it has complied with the corporate governance code for the year ending December 31, 2024, with the exception of a deviation regarding the separation of the roles of chairman and CEO[71]. - The company has established a code of conduct for directors' securities trading, which is stricter than the listing rules, and all directors have complied with these standards during the review period[72]. - The board consists of three executive directors and four independent non-executive directors, ensuring a balanced governance structure[73]. - The company has a structured approach to corporate governance, aiming to create value for shareholders and maximize returns[70]. - The board has a responsibility to prepare financial statements that fairly reflect the group's affairs, with no significant uncertainties affecting the company's ability to continue as a going concern as of December 31, 2024[100]. Human Resources and Management - The group employed 386 staff as of December 31, 2024, a decrease from 406 staff as of December 31, 2023[36]. - The company has a strong management team with members holding significant experience in finance and operations, ensuring effective decision-making[61]. - The company has a dedicated human resources director with over 24 years of experience in HR and administrative management[68]. - The technology and quality director has over 34 years of experience in the food and confectionery industry, overseeing new product development and quality control[67]. Shareholder Information - The board does not recommend any dividend payment for the year ending December 31, 2024, consistent with the previous year[51]. - The company has no fixed dividend policy, and any future dividends will depend on the group's operating performance, available cash flow, and financial condition[97]. - The company has maintained a public float of at least 25% of its total issued share capital since its listing date[162]. - The company has no knowledge of any tax relief or exemptions provided to shareholders for holding its securities[135].

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately RMB 315,028,000, a decrease of 10.4% compared to RMB 351,767,000 in 2023[2] - Gross profit for the same period was approximately RMB 87,383,000, down 12.2% from RMB 99,513,000 in 2023[2] - The company reported a loss attributable to shareholders of approximately RMB 3,623,000, a decline of 173.6% from a profit of RMB 4,920,000 in 2023[2] - Basic and diluted loss per share for the fiscal year was RMB 0.5, compared to earnings of RMB 0.6 per share in 2023[2] - Total revenue for 2024 was CNY 315,028,000, down 10.5% from CNY 351,767,000 in 2023[19] - The group's net loss for the year ending December 31, 2024, was approximately RMB 3.6 million, compared to a profit of approximately RMB 4.9 million for the year ending December 31, 2023, mainly due to increased provisions for expected credit losses on trade and other receivables[51] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 529,898,000, a decrease from RMB 543,678,000 in 2023[5] - Current assets increased to RMB 381,020,000 in 2024 from RMB 363,335,000 in 2023, representing a growth of approximately 4.5%[5] - Cash and cash equivalents decreased to RMB 28,993,000 in 2024 from RMB 35,064,000 in 2023, a decline of about 17.5%[5] - Total liabilities increased to RMB 199,548,000 in 2024 from RMB 164,195,000 in 2023, reflecting a rise of approximately 21.5%[5] - The company's asset-liability ratio was approximately 70.2% as of December 31, 2024, compared to 68.6% as of December 31, 2023[62] Revenue Breakdown - Revenue from China for the year 2024 was CNY 283,836,000, a decrease of 6.2% compared to CNY 302,814,000 in 2023[19] - Revenue from Asia (excluding China) for 2024 was CNY 12,237,000, down 37.5% from CNY 19,439,000 in 2023[19] - Revenue from Europe for 2024 was CNY 17,315,000, a decline of 25.0% compared to CNY 23,101,000 in 2023[19] Dividends and Shareholder Returns - The board of directors has resolved not to declare any final dividend for the fiscal year ending December 31, 2024[3] - The company does not recommend any dividend payment for the year ending December 31, 2024, consistent with 2023[32] - The board does not recommend any dividend payment for the year ending December 31, 2024, consistent with 2023[76] Operational Insights - The company is primarily engaged in the manufacturing and sale of confectionery products, including candies and chocolates[6] - The company operates a single business segment, generating revenue from the sale of confectionery products[17] - The company aims to enhance product quality and expand its production capabilities by investing in new production lines and equipment[41] - The company operates production facilities in Fujian Province, Jinjiang City, which allows for direct control over product quality and production costs[39] Expenses and Costs - Other income, including bank interest income, was RMB 32,168 thousand in 2024, compared to RMB 28 thousand in 2023, indicating a significant increase[26] - Financing costs totaled RMB 13,829 thousand in 2024, slightly up from RMB 13,587 thousand in 2023[27] - Research and development expenses were RMB 9,370 thousand in 2024, down from RMB 11,094 thousand in 2023, showing a reduction in investment[28] - Selling expenses decreased from approximately RMB 34.8 million for the year ending December 31, 2023, to approximately RMB 31.4 million for the year ending December 31, 2024, mainly due to reduced marketing and promotional expenses[47] - Administrative expenses decreased from approximately RMB 34.6 million for the year ending December 31, 2023, to approximately RMB 32.9 million for the year ending December 31, 2024, primarily due to a reduction in research and development expenses[48] Risk Management - The group faces significant risks including potential economic impacts from COVID-19, reliance on a few major OEM customers, and fluctuations in raw material prices which could affect production and sales costs[54] - The company plans to maintain a flexible business strategy to address risks and uncertainties[56] - The company is closely monitoring business trends to identify favorable entrepreneurial environments[58] Governance and Compliance - The group has maintained compliance with corporate governance standards, ensuring shareholder rights and enhancing corporate value[77] - The audit committee, consisting of four independent non-executive directors, has reviewed the annual performance and financial statements for the year ending December 31, 2024[82] - The annual performance announcement has been published on the Hong Kong Stock Exchange website and the company's website[84] Employee and Operational Metrics - The company had 386 employees as of December 31, 2024, down from 406 employees as of December 31, 2022[63] - The company did not have any significant acquisitions or disposals of subsidiaries or joint ventures during the year ended December 31, 2024[66] Future Outlook - The company does not expect the newly issued and revised Hong Kong Financial Reporting Standards to have a significant impact on the consolidated financial statements in the foreseeable future[10] - The group continues to follow a prudent policy to manage cash and maintain strong liquidity, ensuring the ability to seize future growth opportunities[70]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 181,556,000, a decrease of 5.65% compared to RMB 191,638,000 for the same period in 2023[1] - Gross profit increased to RMB 54,159,000, representing a gross margin of 29.85%, compared to RMB 51,975,000 in the previous year[1] - Net profit for the period attributable to owners of the company was RMB 7,822,000, up 7.53% from RMB 7,275,000 in the same period last year[2] - The company reported a foreign exchange gain of RMB 468,000 from overseas operations, compared to a loss of RMB 1,723,000 in the previous year[2] - Revenue for the six months ended June 30, 2024, was approximately RMB 181.6 million, a decrease of about 5.2% from RMB 191.6 million for the same period in 2023, primarily due to a reduction in OEM product sales[31] - Cost of sales for the six months ended June 30, 2024, was approximately RMB 127.4 million, a decrease of about 6.4% from RMB 139.7 million for the same period in 2023, consistent with the revenue decline[32] - Gross profit for the six months ended June 30, 2024, was approximately RMB 54.2 million, an increase of about 4.2% from RMB 52.0 million for the same period in 2023, with gross margins remaining stable at 29.8%[33] - The group reported a pre-tax profit of RMB 126,170 thousand for the six months ended June 30, 2024, compared to RMB 110,616 thousand in 2023, reflecting an increase of 14.0%[13] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 505,306,000, down from RMB 543,678,000 as of December 31, 2023[3] - The company's cash and cash equivalents decreased to RMB 19,845,000 from RMB 35,064,000 at the end of 2023[3] - Total liabilities increased to RMB 220,024,000, compared to RMB 164,195,000 at the end of the previous year[3] - The net asset value of the company rose to RMB 408,266,000, compared to RMB 399,960,000 at the end of 2023[3] - The total borrowings of the group as of June 30, 2024, were approximately RMB 255.2 million, slightly down from RMB 256.1 million as of December 31, 2023[43] - The asset-liability ratio as of June 30, 2024, was approximately 68.4%, stable compared to 68.6% as of December 31, 2023[45] Shareholder Information - As of June 30, 2024, the company has a significant shareholder, Zheng Guosi, holding 576,179,908 shares, representing 72.75% of the total equity[62] - Zheng Guozhong also holds 576,179,908 shares, equivalent to 72.75% of the total equity, indicating a strong concentration of ownership[63] - Xiejia Limited, a controlled entity, owns 201,662,968 shares, accounting for approximately 25.46% of the total issued shares[65] - The company has a total of 172,853,972 shares held by Canon International Limited, which represents about 21.82% of the total issued shares[65] - The ownership structure shows that major shareholders have significant control over the company, with multiple entities holding over 70% of the shares[65] Operational Highlights - Revenue from major customer A was RMB 34,001 thousand for the six months ended June 30, 2024, down 7.5% from RMB 36,756 thousand in 2023[9] - OEM product revenue decreased to RMB 57,318 thousand in 2024 from RMB 73,001 thousand in 2023, representing a decline of 21.5%[10] - Revenue from self-owned brand products, specifically "酷莎," increased to RMB 109,662 thousand in 2024 from RMB 104,375 thousand in 2023, showing a growth of 5.5%[10] - The group had no significant capital commitments as of June 30, 2024, down from RMB 19.3 million as of December 31, 2023[47] - The group continues to manage cash and maintain strong liquidity to seize future growth opportunities[50] Governance and Compliance - The company will continue to review and improve corporate governance standards, adhering to applicable rules and regulations[58] - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with trading standards throughout the review period[59] - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and policies adopted by the group[82] Employee and Training Initiatives - As of June 30, 2024, the group had 402 employees, a slight decrease from 406 employees as of December 31, 2023[54] - The company emphasizes the importance of employee training, including internal professional development workshops and safety training programs[54] - The board believes that maintaining good working relationships with employees is crucial for sustainable development[54] Future Outlook - The company aims to strengthen the development of existing businesses to provide stable returns and growth prospects for shareholders in the future[30] - The company is committed to sustainable growth and aims to strengthen its position as a confectionery manufacturer in China through strategies such as capacity expansion and upgrading existing production lines[56] - The company plans to enhance marketing efforts and increase sales through e-commerce channels, aiming to expand its distribution network[56] - The business strategy includes leveraging production and product development capabilities to manufacture and sell proprietary brand products, as well as OEM products in China and overseas[56]

Financial Performance - For the year ended December 31, 2023, the company reported revenue of RMB 351.8 million, a decrease of 6.5% from RMB 376.4 million in 2022[9]. - The company's profit before tax for 2023 was RMB 11.1 million, down 56.5% from RMB 25.4 million in the previous year[9]. - Net profit attributable to the company's owners for 2023 was RMB 4.7 million, compared to RMB 15.2 million in 2022, reflecting a decline of 69.1%[9]. - The company's revenue decreased by approximately 6.5% from RMB 376.4 million for the year ended December 31, 2022, to RMB 351.8 million for the year ended December 31, 2023, primarily due to a decline in sales of proprietary brand products[17]. - Gross profit for the year ended December 31, 2023, was approximately RMB 99.5 million, a decrease of about 11.0% from RMB 111.8 million in 2022, with a gross margin of 28.3% compared to 29.7% in the previous year[19]. - The company recorded a profit of approximately RMB 4.9 million for the year ended December 31, 2023, down from RMB 16.1 million in 2022, primarily due to the decrease in gross profit[26]. Assets and Liabilities - Total assets increased to RMB 707.9 million in 2023 from RMB 662.9 million in 2022, representing a growth of 6.8%[10]. - Current assets rose significantly to RMB 363.3 million in 2023, up from RMB 304.1 million in 2022, marking an increase of 19.4%[10]. - The company's total equity increased slightly to RMB 400.0 million in 2023 from RMB 395.3 million in 2022, a growth of 1.7%[10]. - Non-current liabilities surged to RMB 143.7 million in 2023, compared to RMB 10.4 million in 2022, indicating a significant increase[10]. - As of December 31, 2023, the total borrowings of the group amounted to approximately RMB 256.1 million, an increase from RMB 201.6 million as of December 31, 2022[34]. - The group's debt-to-equity ratio as of December 31, 2023, was approximately 68.6%, up from 57.6% as of December 31, 2022, primarily due to an increase in bank borrowings during the year[38]. Operational Efficiency - The company aims to strengthen its existing business and provide stable returns and growth prospects for shareholders in the future[6]. - The company has implemented measures to address the impacts of COVID-19, ensuring that product and raw material supply remain unaffected[13]. - The company operates its own production facilities in Fujian Province, allowing for direct control over product quality and production costs[14]. - The cost of sales decreased by about 4.6%, from RMB 264.6 million in 2022 to RMB 252.3 million in 2023, aligning with the revenue decline[18]. - Selling expenses decreased from approximately RMB 37.3 million in 2022 to RMB 34.8 million in 2023, primarily due to reduced marketing and promotional expenses[21]. - Administrative expenses remained relatively stable at approximately RMB 33.4 million in 2022 and RMB 34.6 million in 2023[22]. Management and Governance - The company has a strong management team with extensive experience in finance and operations, including Chen Kan, the CFO, who has over 13 years of experience in accounting and financial management[63]. - The independent non-executive directors, including Wang Linan and Wu Shiming, bring significant experience in financial management and oversight, enhancing corporate governance[64][67]. - The company is strategically positioned in the market with a strong leadership team that has a proven track record in the food manufacturing sector[57][59]. - The management emphasizes the importance of independent judgment and oversight in its operations, ensuring transparency and accountability[64][67]. - The company has established a robust internal monitoring system to ensure compliance with local and international governance standards[78]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balance of power and independent oversight[81]. Corporate Social Responsibility - The company has been actively involved in various educational institutions, indicating a commitment to community engagement and corporate social responsibility[62]. - The group encourages environmental protection and strictly adheres to environmental regulations while promoting environmental awareness among employees[138]. - The group has made donations of approximately RMB 165,000 for the year ending December 31, 2023, compared to RMB 145,000 in 2022[140]. - An independent Environmental, Social, and Governance (ESG) report will be published according to the listing rules[149]. Shareholder Information - The board of directors did not recommend any dividend payment for the year ended December 31, 2023, consistent with the previous year[55]. - The company has no fixed dividend policy, and future dividends will depend on operational performance, cash flow, and financial condition[110]. - The company has maintained a public float of at least 25% of its total issued share capital since its listing date[178]. - The company has no significant related party transactions that constitute connected transactions under the listing rules for the review year[139]. Audit and Compliance - The audit committee reviewed the accounting principles and policies adopted by the group, confirming that the audited consolidated financial statements for the fiscal year ending December 31, 2023, comply with applicable accounting standards[191]. - The independent auditor's report confirmed that the consolidated financial statements accurately reflect the group's financial position as of December 31, 2023[193]. - The company has complied with applicable accounting standards and regulations, ensuring adequate disclosure in its annual report for the year ending December 31, 2023[90]. - The company has implemented risk management and internal control systems, which are reviewed annually for effectiveness, covering financial, operational, compliance, and risk management functions[118][119].

Financial Performance - For the fiscal year ended December 31, 2023, the company's revenue was approximately RMB 351.77 million, a decrease of 6.5% compared to RMB 376.41 million in 2022[2]. - The gross profit for the same period was approximately RMB 99.51 million, reflecting a decline of 11.0% from RMB 111.85 million in 2022[2]. - The net profit attributable to the company's shareholders was approximately RMB 4.92 million, down 69.4% from RMB 16.07 million in 2022[2]. - Basic and diluted earnings per share for the fiscal year were RMB 0.6, compared to RMB 2.0 in 2022[2]. - The group reported total revenue of RMB 351,767,000 in 2023, a decrease from RMB 376,411,000 in 2022, reflecting a decline of about 6.5%[22]. - The revenue from OEM products was RMB 143,523,000 in 2023, compared to RMB 137,846,000 in 2022, indicating a growth of approximately 4.9%[22]. - The net income from government subsidies decreased to RMB 1,314,000 in 2023 from RMB 2,092,000 in 2022, a decline of about 37.2%[23]. - The pre-tax profit before deductions was RMB 194,176,000 in 2023, down from RMB 202,322,000 in 2022, representing a decrease of about 4.0%[25]. - The total tax expenses for 2023 were RMB 6,144,000, compared to RMB 9,373,000 in 2022, indicating a reduction of approximately 34.4%[26]. - The company incurred employee benefit expenses of RMB 35,119,000 in 2023, down from RMB 42,658,000 in 2022, reflecting a decrease of about 17.6%[25]. - The company reported a foreign exchange loss of RMB (501,000) in 2023, contrasting with a gain of RMB 1,584,000 in 2022, indicating a significant shift in foreign exchange performance[23]. - The company recorded a profit of approximately RMB 4.9 million for the year ended December 31, 2023, compared to RMB 16.1 million for the same period in 2022, a decrease primarily due to a reduction in gross profit of approximately RMB 12.3 million[43]. Assets and Liabilities - Total assets decreased from RMB 358,864,000 to RMB 344,538,000, a decline of approximately 4.0% year-over-year[6]. - Current assets increased from RMB 304,081,000 to RMB 363,335,000, representing a growth of about 19.4%[6]. - Cash and cash equivalents rose from RMB 27,496,000 to RMB 35,064,000, an increase of approximately 27.5%[6]. - Total liabilities decreased from RMB 257,298,000 to RMB 164,195,000, a reduction of about 36.3%[6]. - Long-term bank loans decreased significantly from RMB 201,556,000 to RMB 117,100,000, a decline of approximately 41.9%[6]. - Net assets increased slightly from RMB 395,266,000 to RMB 399,960,000, reflecting a growth of about 1.8%[6]. - Trade payables as of December 31, 2023, totaled RMB 31,102,000, a decrease from RMB 35,637,000 in 2022[38]. - Total borrowings as of December 31, 2023, were approximately RMB 256.1 million, up from RMB 201.6 million as of December 31, 2022[68]. - The company's debt-to-asset ratio increased to approximately 68.6% as of December 31, 2023, compared to approximately 57.6% as of December 31, 2022[70]. Dividends and Shareholder Returns - The board of directors has resolved not to declare any final dividend for the fiscal year ended December 31, 2023[3]. - The company has no plans to declare any dividends for the year ending December 31, 2023, consistent with 2022[31]. - The board does not recommend the payment of any dividends for the year ended December 31, 2023[86]. Operational Focus and Market Strategy - The company is primarily engaged in the manufacturing and sale of confectionery products, indicating a focus on expanding its product offerings in the sweet food sector[7]. - The company aims to achieve sustainable growth and further solidify its position as a confectionery manufacturer in China[44]. - The company plans to enhance marketing efforts to strengthen its market position in the Chinese confectionery industry and increase brand awareness through e-commerce channels[47]. - The company aims to expand into new markets in China with significant growth potential, focusing on business development to provide stable returns and growth prospects for shareholders[47]. - The company has implemented various measures to respond to the COVID-19 pandemic, ensuring that product and raw material supply has not been significantly affected[41]. - The company operates production facilities in Fujian Province, Jinjiang City, which allows for direct control over product quality, production costs, and production pace[42]. Risk Management and Compliance - The company is committed to ensuring its business plans are flexible to address various risks and uncertainties[63]. - The company faces risks related to raw material price fluctuations, which could lead to significant production delays and increased sales costs[64]. - The group has implemented measures to minimize credit risk associated with trade receivables and has established regulatory procedures for overdue debts[81]. - The group has no significant foreign exchange risk and does not engage in foreign exchange contracts or other financial derivatives[78]. - The group continues to follow a prudent policy to manage cash and maintain strong liquidity to seize future growth opportunities[79]. Corporate Governance - The Audit Committee has been established in accordance with listing rules, consisting of three independent non-executive directors[94]. - The Group's auditor confirmed that the financial statements for the year ending December 31, 2023, are consistent with the draft financial statements[95]. - The Annual General Meeting is scheduled for May 31, 2024[98]. - Share registration will be suspended from May 28 to May 31, 2024, to determine eligibility for the upcoming Annual General Meeting[99]. - The Chairman and Executive Director is Zheng Zhenzhong, with other directors including Zheng Guosi and Chen Kan[100].

Financial Performance - For the six months ended June 30, 2023, the company recorded a profit of approximately RMB 7.3 million, a decrease from RMB 10.1 million in the same period of 2022, primarily due to increased administrative expenses and reduced sales expenses [4][16]. - Revenue increased by approximately 5.0% from RMB 182.5 million for the six months ended June 30, 2022, to RMB 191.6 million for the same period in 2023, driven by higher sales of OEM products [6]. - Gross profit for the six months ended June 30, 2023, was approximately RMB 52.0 million, up from RMB 51.3 million in the same period of 2022, with gross margins of 27.1% and 28.1% respectively [9]. - The net profit for the period was RMB 7,275,000, down 28.0% from RMB 10,116,000 in the previous year [88]. - Basic and diluted earnings per share decreased to RMB 0.9 from RMB 1.3, reflecting the decline in net profit [88]. - The company reported a total comprehensive income for the period of RMB 5,552 thousand, down from RMB 9,204 thousand in the same period of 2022, representing a decrease of approximately 39.5% [94]. Expenses and Costs - Sales costs rose by approximately 6.4%, from RMB 131.3 million in the first half of 2022 to RMB 139.7 million in the first half of 2023, mainly due to increased direct material costs [8]. - Other income and gains increased from RMB 1.3 million in the first half of 2022 to RMB 1.9 million in the first half of 2023, primarily due to increased government subsidies [10]. - Selling expenses decreased from RMB 19.3 million in the first half of 2022 to RMB 15.5 million in the first half of 2023, attributed to reduced marketing and promotional activities [11]. - Administrative expenses surged by approximately 57.3%, from RMB 12.4 million in the first half of 2022 to RMB 19.5 million in the first half of 2023, mainly due to increased travel and entertainment costs [13]. - Financing costs remained stable at approximately RMB 6.3 million and RMB 6.8 million for the six months ended June 30, 2022, and 2023, respectively [15]. Assets and Liabilities - As of June 30, 2023, the group's cash and cash equivalents amounted to approximately RMB 25.1 million, a decrease of about 8.7% from RMB 27.5 million as of December 31, 2022, primarily due to increased prepayments for raw materials [24]. - The total borrowings of the group as of June 30, 2023, were approximately RMB 218.5 million, an increase from RMB 201.6 million as of December 31, 2022 [25]. - The group's debt-to-asset ratio as of June 30, 2023, was approximately 62.4%, up from 57.6% as of December 31, 2022, mainly due to the addition of bank borrowings during the period [28]. - Total liabilities increased to RMB 559,582 thousand as of June 30, 2023, up from RMB 514,596 thousand at the end of 2022, indicating a rise of approximately 8.7% [90]. - The company's total equity increased to RMB 400,818 thousand as of June 30, 2023, compared to RMB 395,266 thousand at the end of 2022, reflecting a growth of about 1.3% [91]. Shareholder Information - As of June 30, 2023, the company’s major shareholders, Zheng Guosi and Zheng Zhenzhong, each hold 72.75% of the shares, totaling 576,179,908 shares [57]. - Xiejia Limited holds 201,662,968 shares, representing approximately 25.46% of the total issued shares [63]. - Canon International Limited owns 172,853,972 shares, accounting for about 21.82% of the total issued shares [65]. - The company has not granted, exercised, canceled, or expired any options under the share option plan as of June 30, 2023 [67]. - The share option plan allows for a maximum of 79,200,000 shares to be issued, which is 10% of the total issued shares as of March 16, 2021 [71]. Operational Insights - The company aims to strengthen existing business development and provide stable returns and growth prospects for shareholders in the future [5]. - The company aims for sustainable growth and plans to expand production capacity, upgrade existing production lines, enhance marketing through e-commerce, and continue product development [47]. - The company focuses on producing and selling confectionery products, including gummy candies, tablet candies, puffed candies, and hard candies, to maintain quality control and production efficiency [49]. - The company holds a significant market position in China as a confectionery manufacturer and intends to strengthen brand recognition and awareness through marketing initiatives [49]. Risk Management - The group has implemented measures to manage credit risk, including setting credit limits and conducting individual assessments of receivables [39]. - The group has no significant foreign exchange risk and does not hold any foreign exchange contracts or financial derivatives as of June 30, 2023 [35]. - The company has confirmed that no options were granted or exercised under the share option plan during the reporting period [67]. Employee and Governance - The company emphasizes the importance of employee training, including internal professional development seminars and safety training programs [45]. - The board believes that maintaining a good working relationship with employees is crucial for sustainable development [45]. - The company is committed to high standards of corporate governance and has adopted all applicable codes of corporate governance [50].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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。 Jiujiuwang Food International Limited 久 久 王 食 品國 際有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1927） 截 至2023年6月30日 止 六 個 月 之 中 期 業 績 公 告 久久王食品國 际有限公司（「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「本 集 團」、「我 們」及「我 們 的」）截 至2023年6月 30日止六個月之中期業績，連同2022年同期的比較數據如下： 簡明綜合損益及其他全面收益表 截至2023年6月30日止六個月 截至6月30日止六個月 2023年 2022年 附註 人民幣千元 人民幣千元 （未經審核） （未經審核） 收益 4 191,638 182,544 銷售成本 (139,663) (131,270) ...

Financial Performance - For the fiscal year ending December 31, 2022, the company reported revenue of RMB 376.4 million, a decrease of 8.1% from RMB 409.8 million in 2021[9]. - The company's profit before tax for 2022 was RMB 25.4 million, down 39.0% from RMB 41.8 million in 2021[9]. - Net profit attributable to the company's owners for the year was RMB 15.2 million, a decline of 44.0% compared to RMB 27.2 million in the previous year[9]. - The company's revenue decreased by approximately 8.2% from RMB 409.8 million in the year ended December 31, 2021, to RMB 376.4 million in the year ended December 31, 2022[18]. - Gross profit for the year ended December 31, 2022, was approximately RMB 111.8 million, a decrease of about 14.1% from RMB 130.2 million in 2021, with gross margin dropping from 31.8% to 29.7%[20]. - The company's net profit for the year ended December 31, 2022, was approximately RMB 16.1 million, down from RMB 27.3 million in 2021, due to reduced gross profit and other income losses[27]. Assets and Equity - Total assets as of December 31, 2022, amounted to RMB 662.9 million, an increase of 7.1% from RMB 618.7 million in 2021[10]. - The company's total equity increased to RMB 395.3 million in 2022, up from RMB 380.0 million in 2021, reflecting a growth of 4.0%[10]. - As of December 31, 2022, the company's cash and cash equivalents were approximately RMB 27.5 million, a decrease of about 24.0% from RMB 36.2 million on December 31, 2021[37]. - Total borrowings as of December 31, 2022, amounted to approximately RMB 201.6 million, down from RMB 213.4 million on December 31, 2021[38]. - The company's debt-to-equity ratio increased to approximately 57.6% as of December 31, 2022, compared to 56.2% on December 31, 2021[39]. Business Operations - The company continues to focus on producing and selling a variety of confectionery products, including gummy candies, pressed candies, and hard candies, under both OEM and its own brands[5][14]. - The company has implemented measures to strengthen its existing business in response to the COVID-19 pandemic, ensuring that product and raw material supply remained unaffected[12][13]. - The company operates its own production facilities in Fujian Province, Jinjiang City, which allows for direct control over product quality and production costs[14]. - The decrease in profit was primarily due to a reduction in listing expenses of approximately RMB 14.9 million and a net impact of a decrease in gross profit of about RMB 18.4 million[14]. Future Strategies - The company aims to consolidate its existing business development to provide stable returns and growth prospects for shareholders in the future[6]. - The company plans to enhance marketing efforts and expand production capacity, with allocations of RMB 40.3 million for capacity expansion and RMB 20.1 million for replacing existing production line machinery[29]. - Future business strategies include focusing on product development and quality control to meet changing consumer preferences[18]. - The company aims to strengthen its market position in China through increased brand awareness and e-commerce sales channels[18]. Corporate Governance - The company has adhered to the corporate governance code and maintained high standards of corporate governance throughout the year ending December 31, 2022, with the exception of a deviation from code provision C.2.1[78]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balance of power and independent viewpoints[81]. - The company has implemented a strict code of conduct for directors regarding securities trading, with all directors complying with the trading standards during the review period[80]. - The board is responsible for overall management and oversight of the company's business, ensuring decisions are made in the best interest of the company[81]. - The company regularly reviews its corporate governance policies and practices, including training and professional development for directors and senior management[83]. Risk Management - The company faces risks related to reliance on major OEM customers and third-party distributors, which could significantly impact sales if agreements are terminated[31]. - The group has no significant credit risk related to other receivables, and management regularly monitors these risks[50]. - The group has no significant credit concentration risk and will continue to monitor such credit risks[52]. - The company has established communication channels with shareholders, including annual general meetings and timely disclosures of corporate communications[125]. Social Responsibility and Compliance - The group emphasizes the importance of corporate social responsibility in supplier selection and procurement processes[184]. - The group has established an environmental management system to promote environmental awareness among employees and ensure compliance with environmental regulations[139]. - The group has complied with relevant laws and regulations, with no serious violations reported during the year[186]. Shareholder Information - The board of directors does not recommend the payment of any dividends for the year ended December 31, 2022[54]. - There is no fixed dividend policy, and future dividends will depend on the group's operating performance, available cash flow, financial condition, and other relevant factors[109]. - The group did not recommend the payment of a final dividend for the year ended December 31, 2022 (2021: none)[137].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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。 Jiujiuwang Food International Limited 久 久 王 食 品國 際有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1927） 截 至2022年12月31日 止 年 度 之 全 年 業 績 公 告 財務摘要 截 至2022年12月31日 止 年 度，收 益 約 為 人 民 幣376,411,000元（2021年：約 人民幣409,825,000元），按年減少8.2%。 截 至2022年12月31日 止 年 度，毛 利 約 為 人 民 幣111,847,000元（2021年：約 人民幣130,193,000元），按年減少14.1%。 截 至2022年12月31日 止 年 度， 本 公 司 擁 有 人 應 佔 溢 利 約 為 人 民 幣 16,066,000元（2021年：約人民幣27,289,000元），按年下降41.1%。 截 至2022年1 ...

Financial Performance - For the six months ended June 30, 2022, the company recorded a profit of approximately RMB 10.1 million, compared to RMB 9.4 million for the same period in 2021, representing an increase of about 7.4%[9]. - Revenue decreased by approximately 4.1% from RMB 190.4 million for the six months ended June 30, 2021, to RMB 182.5 million for the same period in 2022, primarily due to reduced sales of OEM products[11]. - Gross profit for the six months ended June 30, 2022, was approximately RMB 51.3 million, a decrease of about 16.4% from RMB 61.4 million for the same period in 2021, with a gross margin of 28.1% compared to 32.2% in 2021[15]. - Profit for the six months ended June 30, 2022, was approximately RMB 10.1 million, compared to RMB 9.4 million for the same period in 2021, reflecting a net increase due to reduced administrative expenses[20]. - The net profit for the period was RMB 10,116,000, an increase of 7.7% compared to RMB 9,357,000 in 2021[133]. - Total comprehensive income for the period was RMB 10,116 thousand, reflecting an increase from RMB 9,357 thousand in the prior year[144]. Revenue Breakdown - Revenue for the six months ended June 30, 2022, was RMB 182,544,000, a decrease of 4.2% from RMB 190,350,000 in the same period of 2021[163]. - OEM product revenue decreased to RMB 63,201,000, down 22.3% from RMB 81,359,000 in 2021[163]. - Own brand product revenue increased to RMB 119,343,000, up 12.5% from RMB 109,991,000 in 2021[163]. Expenses and Costs - Sales costs increased by approximately 1.8%, from RMB 129.0 million for the six months ended June 30, 2021, to RMB 131.3 million for the same period in 2022, mainly due to increased depreciation and maintenance costs[14]. - Selling expenses rose from approximately RMB 15.2 million for the six months ended June 30, 2021, to RMB 19.3 million for the same period in 2022, attributed to increased marketing and promotional activities[17]. - Administrative expenses decreased by approximately 45.9% from RMB 22.9 million for the six months ended June 30, 2021, to RMB 12.4 million for the six months ended June 30, 2022[20]. - The company incurred financing costs of RMB 6,304,000 for the six months ended June 30, 2022, slightly up from RMB 6,262,000 in 2021[167]. Cash Flow and Assets - As of June 30, 2022, cash and cash equivalents were approximately RMB 27.8 million, a decrease of about 23.2% from RMB 36.2 million as of December 31, 2021, primarily due to property, plant, and equipment purchases[41]. - Total assets as of June 30, 2022, were RMB 645,531,000, compared to RMB 618,677,000 as of December 31, 2021[136]. - The company's cash and cash equivalents decreased to RMB 27,804,000 from RMB 36,197,000 as of December 31, 2021[136]. - The net cash generated from operating activities for the six months ended June 30, 2022, was RMB 10,229 thousand, compared to a net cash used of RMB 11,684 thousand in the same period of 2021[145]. Debt and Liabilities - Total borrowings as of June 30, 2022, were approximately RMB 206.8 million, down from RMB 213.4 million as of December 31, 2021[42]. - As of June 30, 2022, the company's debt-to-equity ratio was approximately 53.4%, down from 56.2% as of December 31, 2021, primarily due to the repayment of bank loans[53]. - The total liabilities as of June 30, 2022, were RMB 247,493,000, compared to RMB 238,633,000 as of December 31, 2021[136]. Corporate Governance and Strategy - The company plans to strengthen the development of existing businesses to provide stable returns and growth prospects for shareholders in the future[10]. - The company plans to maintain flexibility in its business strategy to adapt to market trends and potential challenges[39]. - The company is committed to maintaining high standards of corporate governance and will continuously review and improve its governance practices[76]. - The board believes that having Zheng Zhenzhong serve as both chairman and CEO is in the best interest of the company, given his extensive experience in the candy industry[79]. Production and Development - The company operates a large factory in Jinjiang, Fujian Province, with multiple production lines capable of producing several tons of products[9]. - Research and development expenses for new product development increased by approximately RMB 4.7 million during the reporting period[9]. - The company aims to directly control product quality, production costs, and production schedules through its owned production facilities[9]. - The company plans to expand production capacity, upgrade existing production line machinery, enhance marketing through e-commerce channels, and strengthen product offerings through continuous development[72]. Employee and Shareholder Information - The company has 438 employees as of June 30, 2022, an increase from 403 employees as of December 31, 2021[70]. - The company did not declare any dividends for the six months ended June 30, 2022, compared to zero in 2021[54]. - As of June 30, 2022, Zheng Guosi and Zheng Zhenzhong each hold 576,179,908 shares, representing 72.75% of the company's equity[84]. - The issued and fully paid share capital remained at 792,000,000 shares as of June 30, 2022, consistent with the previous period[198].