Summary of Key Points Core Viewpoint - As of May 16, a total of 54 stocks reached their 52-week highs, indicating a positive trend in the market, with notable performances from Glory Holdings, Jian De International Holdings, and Xunlong [1]. Group 1: 52-Week Highs - Glory Holdings (09998) achieved a closing price of 0.209 with a peak of 0.290, marking a high rate of 72.62% [1]. - Jian De International Holdings (00865) closed at 0.054, reaching a high of 0.073, reflecting a 25.86% increase [1]. - Xunlong (01930) closed at 0.370, with a peak of 0.500, resulting in a 25.00% increase [1]. - Other notable stocks include Sound Technology (02495) with a 20.67% increase and CLSA PREMIUM (06877) with a 19.15% increase [1]. Group 2: 52-Week Lows - INTL GENIUS (00033) recorded a closing price of 1.290, with a low of 0.930, reflecting a decrease of 22.50% [2]. - 威发国际 (00765) closed at 0.300, reaching a low of 0.265, indicating a decline of 22.06% [2]. - 时腾科技 (08113) had a closing price of 0.042, with a low of 0.030, showing a decrease of 21.05% [2]. - Other significant declines include 顺豪控股 (00253) with a 12.50% decrease and 奥传思维控股 (08091) with a 10.00% decrease [2].

Financial Performance - Revenue for the fiscal year ended December 31, 2024, was RMB 237,646,000, representing an increase of 8.7% compared to RMB 218,698,000 in 2023[12] - Gross profit decreased to RMB 47,410,000, down 6.8% from RMB 50,878,000, with a gross margin of 19.9%, a decline of 3.4 percentage points from 23.3%[12] - Net profit attributable to owners of the company was RMB 16,035,000, a decrease of 22.0% from RMB 20,552,000, resulting in a net profit margin of 6.7%, down 2.7 percentage points from 9.4%[12] - The group's revenue for the fiscal year 2024 was approximately RMB 237.6 million, an increase of about RMB 18.9 million or 8.7% compared to RMB 218.7 million in fiscal year 2023[16] - The profit attributable to the company's owners for fiscal year 2024 was approximately RMB 16.0 million, a decrease of about 22.0% from approximately RMB 20.6 million in fiscal year 2023[16] - The group's gross profit for the fiscal year 2024 was approximately RMB 47.4 million, a decrease of about 3.5 million or 6.8% compared to RMB 50.9 million in fiscal year 2023, with a gross margin decline from 23.3% to 19.9%[28] - Net profit for fiscal year 2024 was approximately RMB 16.0 million, down from RMB 20.6 million in fiscal year 2023, resulting in a net profit margin decrease from 9.4% to 6.7%[34] Assets and Liabilities - Total assets increased by 10.4% to RMB 683,288,000 from RMB 619,063,000[13] - Total liabilities rose by 18.0% to RMB 326,799,000 from RMB 276,864,000[13] - Cash and cash equivalents decreased by 26.4% to RMB 31,034,000 from RMB 42,169,000[13] - Current assets increased to approximately RMB 482.3 million as of December 31, 2024, compared to RMB 417.9 million as of December 31, 2023, while current liabilities rose to about RMB 313.5 million from RMB 260.0 million[36] - The total equity of the group increased to approximately RMB 356.5 million as of December 31, 2024, from RMB 342.2 million as of December 31, 2023, primarily due to the net profit recorded in fiscal year 2024[39] Operational Developments - The company focuses on the development of customized molds and automotive lightweight applications, aiming to provide comprehensive mold services and solutions[14] - The new factory construction in Kunshan, Jiangsu Province, was completed by the end of 2023, with operations expected to enhance production efficiency[18] - The group plans to continue expanding its domestic and overseas markets while strengthening cooperation with existing clients[19] - The company has established a clear process for the appointment, re-election, and removal of directors, ensuring compliance with listing rules[94] Corporate Governance - The board is committed to maintaining high corporate governance standards to protect shareholder interests and enhance corporate value[77] - The company has adopted the principles and code provisions of the Corporate Governance Code as the basis for its governance practices[77] - The board consists of a balanced mix of executive and non-executive directors, ensuring at least three independent non-executive directors are appointed[83] - The company has implemented various policies, including an employee code of conduct and anti-corruption measures, to strengthen governance practices[76] - The company has ensured compliance with all code provisions of the Corporate Governance Code as of December 31, 2024, except for one specific provision[77] Risk Management - The group has established a risk management framework to address various operational risks, including labor shortages and credit risks from customers[159] - The company faces significant risks, including reliance on five major customers, where a decrease or termination of sales to any of them could adversely affect its business and financial condition[157] - The board is responsible for overseeing the company's risk management and approving significant business decisions[161] Shareholder Relations - The company has established various channels for continuous dialogue with shareholders, including annual general meetings and other shareholder meetings[146] - The company emphasizes effective communication with shareholders to enhance investor relations and understanding of its business performance and strategies[144] - The company encourages shareholder participation in meetings and allows for the appointment of representatives if shareholders cannot attend[146] Employee and Remuneration Policies - The total employee costs for the fiscal year 2024 were approximately RMB 51.1 million, an increase from RMB 47.0 million in the fiscal year 2023, primarily due to rising direct labor costs[45] - The company is committed to attracting and retaining high-quality employees through competitive remuneration packages[109] - The remuneration committee is responsible for recommending overall remuneration policies for all directors and senior management, ensuring competitive compensation[108] Future Outlook - Future outlook includes continued investment in new technologies and market expansion strategies[14] - The company aims to assist China in becoming a global manufacturing powerhouse as part of its mission[76] - The company has a vision to become a model happy enterprise in China[76]

Financial Performance - Revenue for the fiscal year ending December 31, 2024, was RMB 237,646,000, an increase of 8.7% compared to RMB 218,698,000 in 2023[2]. - Gross profit decreased to RMB 47,410,000, down 6.8% from RMB 50,878,000 in the previous year, resulting in a gross margin of 19.9%, a decline of 3.4 percentage points[2]. - Net profit attributable to shareholders was RMB 16,035,000, representing a decrease of 22.0% from RMB 20,552,000 in 2023[3]. - Basic and diluted earnings per share were both RMB 2.4, down 22.6% from RMB 3.1 in the previous year[2]. - Total comprehensive income for the year was RMB 15,735,000, compared to RMB 21,212,000 in 2023, reflecting a decline in overall profitability[5]. - The company reported a net profit margin of 6.7%, down 2.7 percentage points from 9.4% in the previous year[2]. - The company experienced an increase in selling and distribution expenses, which amounted to RMB 6,483,000, slightly down from RMB 6,767,000 in the previous year[3]. - The company reported a total of CNY 222,656,000 in sales for the year ended December 31, 2024, compared to CNY 203,999,000 for the previous year, marking an increase of approximately 9.1%[21]. - The company’s revenue from overseas markets was CNY 22,199,000 for the year ended December 31, 2024, up from CNY 9,445,000, showing significant growth[21]. - The company’s revenue from processing services was CNY 13,082,000, an increase from CNY 10,863,000, representing a growth of approximately 20.4%[21]. Dividends and Shareholder Returns - The proposed final dividend is HKD 0.719 per share, totaling approximately HKD 4.7 million, subject to shareholder approval[2]. - The proposed final dividend for the fiscal year ending December 31, 2024, is HKD 0.719 per share, totaling approximately HKD 4.745 million (equivalent to RMB 4.375 million), pending shareholder approval[49]. Assets and Liabilities - Non-current assets totaled 200,968 thousand RMB, slightly down from 201,200 thousand RMB[6]. - Current assets increased to 482,320 thousand RMB from 417,863 thousand RMB, representing a growth of approximately 15.4%[6]. - Total liabilities increased to 313,474 thousand RMB from 259,961 thousand RMB, reflecting a rise of approximately 20.5%[6]. - The total value of assets decreased to 369,814 thousand RMB from 359,102 thousand RMB, a slight decline of about 2.0%[6]. - The company’s total equity increased to 369,814 thousand RMB, up from 359,102 thousand RMB, indicating a growth of approximately 2.0%[6]. - The company reported a total of 84,002 thousand RMB in trade payables, up from 52,124 thousand RMB, which is an increase of about 61.1%[6]. - The total expected credit loss for trade receivables in 2023 was RMB 1,523,000, while the total for 2024 is RMB 2,416,000, marking an increase of 58.7%[41]. Revenue Breakdown - Revenue from automotive molds was CNY 182,452,000 for the year ended December 31, 2024, compared to CNY 164,911,000 for the previous year, reflecting a growth of about 10.6%[21]. - Revenue from electronic products molds was CNY 38,005,000, slightly down from CNY 38,368,000, indicating a decrease of approximately 1%[21]. - The total revenue from other molds was CNY 2,199,000, compared to CNY 720,000, indicating a substantial increase[21]. Expenses and Costs - The company reported a direct labor cost of RMB 30,689 thousand, an increase from RMB 27,164 thousand, reflecting a growth of approximately 9%[28]. - The cost of materials consumed was RMB 75,779 thousand, up from RMB 74,099 thousand, indicating a slight increase of about 2.3%[28]. - Research and development expenses amounted to RMB 8,378 thousand, compared to RMB 8,165 thousand, representing a year-over-year increase of approximately 2.6%[28]. - The total employee benefits expense was RMB 18,038 thousand, slightly up from RMB 17,869 thousand, reflecting an increase of about 0.9%[28]. - General and administrative expenses increased by approximately RMB 3.9 million or 15.2%, totaling about RMB 29.3 million in fiscal year 2024 compared to RMB 25.4 million in fiscal year 2023[67]. Market and Economic Outlook - The overall economic situation remains complex and uncertain, with the Chinese government continuing to implement strategies to stimulate domestic demand and enhance economic recovery[55]. - The automotive industry in China saw a year-on-year increase in sales volume of 3.7% and production volume of 4.5%, with new energy vehicles accounting for 40.9% of total new vehicle sales[52]. - The company anticipates that the automotive market will maintain stable development in 2025, supported by policies such as trade-in programs and tax incentives for new energy vehicles[55]. - The home appliance market is expected to continue evolving towards high-end, intelligent, and green transformations, driven by AI-enabled technological innovations[56]. Compliance and Governance - The group has adopted the corporate governance code and confirmed compliance with all relevant rules as of December 31, 2024[107]. - The board believes that the current arrangement of having the Chairman also serve as the CEO does not impair the balance of power and authority[108]. - The group confirmed that the financial figures for the fiscal year 2024 are consistent with the audited consolidated financial statements[105].

Financial Performance - For the six months ended June 30, 2024, the company's revenue was approximately RMB 117.8 million, an increase of 10.3% compared to RMB 106.8 million for the same period in 2023[15]. - Gross profit for the same period was RMB 23.0 million, representing a decrease of 23.3% from RMB 30.0 million in the previous year, with a gross margin of 19.5%, down 8.6 percentage points[15]. - Net profit attributable to the owners of the company was approximately RMB 7.3 million, a decrease of 47.1% from RMB 13.8 million in the prior year, resulting in a net profit margin of 1.1%, down 6.7 percentage points[15]. - The company's net profit for the period was RMB 13,771,000, compared to RMB 14,426,000 for the same period in 2023, reflecting a decrease of approximately 4.5%[78]. - Profit before tax decreased to RMB 8,499 thousand, a decline of 50.1% compared to RMB 17,002 thousand in the previous year[73]. - The company reported a net profit attributable to shareholders of RMB 7,433,000 for the six months ended June 30, 2024, a decrease of 47.5% compared to RMB 14,186,000 for the same period in 2023[74]. Assets and Liabilities - Total assets as of June 30, 2024, were RMB 644.6 million, up from RMB 619.1 million at the end of 2023[16]. - Total liabilities increased to RMB 296.5 million from RMB 276.9 million, while total equity rose to RMB 348.1 million from RMB 342.2 million[16]. - The total current assets as of June 30, 2024, were approximately RMB 439.0 million, an increase from RMB 417.9 million as of December 31, 2023[34]. - The company's cash and bank balances decreased to approximately RMB 34.2 million as of June 30, 2024, down from RMB 44.3 million as of December 31, 2023[34]. - The total liabilities increased to RMB 17,924,000, compared to RMB 16,903,000 at the end of 2023, reflecting a growth of 6.0%[76]. Revenue Breakdown - Revenue from automotive molds reached approximately RMB 91.2 million, up RMB 12.9 million or 16.5% from RMB 78.3 million in the same period last year[21]. - Overseas revenue significantly increased to RMB 20,223,000 from RMB 3,385,000, indicating a strong growth in international markets[92]. - The company reported a total of RMB 110,713,000 in sales of molds, which includes automotive molds, electrical product molds, and others[92]. Operational Challenges - The company faced increased operational pressures due to geopolitical conflicts and trade frictions, impacting overall market demand[17]. - Increased costs were attributed to relocation expenses and higher general and administrative expenses, including R&D and consulting fees[17]. Market and Industry Insights - The automotive industry in China saw production and sales growth of 4.9% and 6.1% respectively, with the new energy vehicle market share rising to 35.2%[17]. - The automotive industry is expected to benefit from favorable policies such as vehicle replacement and new energy vehicle promotions in the second half of 2024[20]. Investments and Future Plans - The company plans to complete the construction of a new factory in Kunshan, Jiangsu Province by the end of 2023, which will enhance production efficiency and create new business opportunities[20]. - The company is committed to expanding its market presence and enhancing its product offerings in response to competitive pressures[17]. Shareholder Information - As of June 30, 2024, the company’s major shareholder, Shine Art, holds 324,225,000 shares, representing 49.125% of the total shares[60]. - Friendly Holdings (HK) Co., Limited owns 91,080,000 shares, accounting for 13.80% of the total shares[60]. Governance and Management - The board believes that the current governance structure, where the roles of chairman and CEO are held by the same individual, does not impair the balance of power and authority[54]. - Total remuneration for key management personnel amounted to RMB 1,323,000 for the six months ended June 30, 2024, an increase of 11% from RMB 1,191,000 in the same period of 2023[134]. Cash Flow and Expenditures - Cash flow from operating activities before tax profit was RMB 8,499,000, down from RMB 17,002,000 in the previous year, indicating a decline of about 50%[79]. - The company’s capital expenditure for the first half of 2024 was approximately RMB 27.2 million, a decrease from RMB 64.2 million in the previous period[36]. Research and Development - The company is focusing on R&D and innovation, particularly in AI-enabled technologies, to explore market growth potential in the home appliance sector[20]. - Research and development costs increased to RMB 4,332,000, up 22% from RMB 3,553,000 in the previous year[100].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 117,764 thousand, representing a 10.3% increase from RMB 106,783 thousand in the same period of 2023[2] - Gross profit decreased to RMB 23,012 thousand, down 23.3% from RMB 30,022 thousand year-over-year, resulting in a gross margin of 19.5%, a decline of 8.6 percentage points[2] - Net profit attributable to owners of the company was RMB 7,278 thousand, a decrease of 47.1% compared to RMB 13,771 thousand in the previous year, with a net profit margin of 6.2%, down 6.7 percentage points[2] - The total comprehensive income for the period was RMB 7,355 thousand, compared to RMB 14,841 thousand in the same period of 2023[5] - Basic and diluted earnings per share for the six months ended June 30, 2024, were both RMB 1.1, down 47.6% from RMB 2.1 in the same period of 2023[6] - The total profit before tax for the six months ended June 30, 2024, was RMB 9,618,000, down from RMB 12,335,000 in 2023, representing a decrease of approximately 22.1%[15] - For the six months ended June 30, 2024, the company's profit attributable to ordinary equity holders was RMB 7,278,000, compared to RMB 13,771,000 for the same period in 2023, representing a decrease of approximately 47.3%[20] - The total tax expense for the six months ended June 30, 2024, was RMB 1,299,000, a decrease of approximately 49.7% from RMB 2,576,000 in the same period of 2023[17] - Income tax expenses decreased from approximately RMB 2.6 million in the first half of 2023 to approximately RMB 1.3 million in the first half of 2024, with effective tax rates of 15.2% and 15.3% respectively[47] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 644,605 thousand, reflecting a 4.1% increase from RMB 619,063 thousand as of December 31, 2023[3] - Total liabilities increased by 7.1% to RMB 296,496 thousand from RMB 276,864 thousand year-over-year[3] - Cash and cash equivalents decreased by 22.1% to RMB 32,859 thousand from RMB 42,169 thousand year-over-year[3] - Current assets totaled RMB 439,014,000, up from RMB 417,863,000 in the previous year, indicating a year-over-year increase of about 5.0%[8] - The total current liabilities reached RMB 278,572,000, compared to RMB 259,961,000 as of December 31, 2023, reflecting an increase of approximately 7.1%[8] - The net asset value as of June 30, 2024, was RMB 348,109,000, which is an increase from RMB 342,199,000 as of December 31, 2023, showing a growth of about 1.1%[8] - The company reported a total equity of RMB 348,109,000, up from RMB 342,199,000, indicating a growth of approximately 1.7%[8] - As of June 30, 2024, total current assets were approximately RMB 439.0 million, an increase from RMB 417.9 million as of December 31, 2023, with a current ratio of approximately 1.6[50] Revenue Sources - Revenue from automotive molds was RMB 91,189,000 for the six months ended June 30, 2024, up from RMB 78,298,000 in the same period of 2023, reflecting a growth of about 16.5%[13] - The company reported a significant increase in overseas revenue, which rose to RMB 20,223,000 in the first half of 2024 from RMB 3,385,000 in 2023, showing a growth of over 497%[14] - Sales of automotive molds generated revenue of approximately RMB 91.2 million, an increase of about RMB 12.9 million or 16.5% compared to approximately RMB 78.3 million in the same period last year[39] - The sales of electrical molds remained stable, generating revenue of approximately RMB 19.3 million, compared to approximately RMB 19.1 million in the first half of 2023[39] Costs and Expenses - The cost of raw materials consumed increased to RMB 38,507,000 in the first half of 2024 from RMB 34,069,000 in 2023, indicating a rise of approximately 12.5%[15] - The direct labor cost for the first half of 2024 was RMB 14,660,000, compared to RMB 12,191,000 in 2023, marking an increase of around 20.3%[15] - The group's sales cost for the first half of 2024 was approximately RMB 94.8 million, an increase of about RMB 18.0 million or 23.4% compared to approximately RMB 76.8 million in the first half of 2023[41] - General and administrative expenses for the first half of 2024 were approximately RMB 13.9 million, an increase of about RMB 2.4 million or 20.9% compared to RMB 11.5 million in the same period of 2023[45] - Financing costs increased from approximately RMB 0.3 million in the first half of 2023 to approximately RMB 0.5 million in the first half of 2024, primarily due to an increase in bank loan interest expenses[46] Operational Highlights - The company successfully established cooperation with several new customers in the first half of 2024, despite facing significant pressure from market competition[33] - The automotive industry in China saw a year-on-year increase in sales volume of 4.9% and production volume of 6.1% in the first half of 2024, with new energy vehicles' market share rising to 35.2%[33] - The company faced increased operational pressures due to a decrease in revenue from a major customer, which had a higher gross margin compared to other automotive mold customers[34] - The company anticipates that the automotive industry will benefit from favorable policies such as vehicle replacement and new energy vehicle promotions in the second half of 2024[35] - The company noted that the overall competition in the automotive and automotive mold markets has intensified significantly, leading to increased operational pressures[33] - The company has increased its general and administrative expenses due to rising R&D costs, consulting fees, and impairment provisions for trade receivables[34] Investments and Future Plans - The group plans to complete the construction of a new factory in Kunshan, Jiangsu Province by the end of 2023, with renovations expected to be completed in the first half of 2024, aimed at improving production efficiency and reducing costs[36] - The group aims to expand its domestic and overseas markets while closely monitoring changes in the global political and economic environment[36] - The group will continue to explore new business opportunities and enhance its competitive advantage through effective production line planning and operational improvements[36] - The company plans to transfer assets valued at approximately RMB 15,059,000 to the Zhangpu Town Construction Bureau, with the transfer expected to be completed by November 2024[23] Corporate Governance - The company adheres to high corporate governance standards to protect shareholder interests and enhance corporate value[69] - The company has adhered to all corporate governance code provisions except for the separation of the roles of Chairman and CEO, which are currently held by the same individual, Mr. Lin Wan Yi[70] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results for the first half of 2024 and has no objections to the accounting treatment adopted by the company[72] - The company did not recommend the payment of an interim dividend for the first half of 2024, similar to the first half of 2023, where no dividend was paid[75]

Financial Performance - Revenue for the fiscal year 2023 reached RMB 218.7 million, representing a 10.2% increase from RMB 198.5 million in 2022[16] - Gross profit increased to RMB 50.9 million, with a gross margin of 23.3%, up from 22.4% in the previous year[16] - Net profit attributable to shareholders rose by 18.7% to RMB 20.6 million, with a net profit margin of 9.4%[16] - The company's revenue for the fiscal year 2023 was approximately RMB 218.7 million, an increase of about RMB 20.2 million or 10.2% compared to RMB 198.5 million in fiscal year 2022[29] - Profit attributable to the owners of the company for fiscal year 2023 was approximately RMB 20.6 million, representing an increase of about 18.7% from RMB 17.3 million in fiscal year 2022[29] - Revenue from automotive molds in fiscal year 2023 was approximately RMB 164.9 million, an increase of about RMB 27.6 million or 20.1% compared to RMB 137.3 million in fiscal year 2022[31] - Revenue from electrical molds decreased by approximately RMB 2.0 million or 5.1%, totaling RMB 38.4 million in fiscal year 2023 compared to RMB 40.4 million in fiscal year 2022[31] - The company's sales cost for fiscal year 2023 was approximately RMB 167.8 million, an increase of about RMB 13.8 million or 9.0% from RMB 154.0 million in fiscal year 2022[34] - Gross profit for fiscal year 2023 was approximately RMB 50.9 million, an increase of about RMB 6.3 million or 14.2% from RMB 44.6 million in fiscal year 2022[35] - Other income and gains increased from approximately RMB 3.8 million in fiscal year 2022 to approximately RMB 6.5 million in fiscal year 2023, mainly due to increased government subsidies[36] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 619.1 million, a 9.2% increase from RMB 566.8 million in 2022[17] - Total liabilities increased by 13.3% to RMB 276.9 million, compared to RMB 244.3 million in the previous year[17] - As of December 31, 2023, the group's current assets and current liabilities were approximately RMB 417.9 million and RMB 260.0 million respectively, with a current ratio of approximately 1.6 times[45] - The group's cash and bank balances as of December 31, 2023, were approximately RMB 44.3 million, down from RMB 56.6 million as of December 31, 2022[45] - The group's property, plant, and equipment amounted to approximately RMB 185.7 million as of December 31, 2023, compared to RMB 116.0 million as of December 31, 2022[49] - The group's inventory increased to approximately RMB 269.0 million as of December 31, 2023, from RMB 246.4 million as of December 31, 2022, primarily due to an increase in orders for automotive molds[51] - The group's trade receivables and bills receivable were approximately RMB 101.8 million as of December 31, 2023, down from RMB 110.6 million as of December 31, 2022[52] - As of December 31, 2023, the group's contract liabilities amounted to approximately RMB 147.1 million, an increase from RMB 116.6 million as of December 31, 2022[56] Capital Expenditures and Investments - Capital expenditures for the group in fiscal year 2023 amounted to approximately RMB 64.2 million, up from RMB 53.8 million in fiscal year 2022[43] - The group plans to construct a new factory at a cost of approximately RMB 77.0 million, with completion expected by the end of 2023[62] - The net proceeds from the listing amounted to approximately HKD 95.6 million, with 91.4 million already utilized as of December 31, 2023[67] - The group allocated 76.3% of the net proceeds, approximately HKD 72.9 million, for purchasing new production equipment, with HKD 70.8 million already spent[68] - The company has invested HKD 70.8 million in acquiring various production equipment, including one coordinate measuring machine and eleven CNC machining centers[72] - An additional HKD 4.8 million has been spent on purchasing software for product analysis and mold design[72] Corporate Governance - The board of directors proposed a final dividend of HKD 0.241 per share for the fiscal year 2023, equivalent to RMB 0.219[25] - The board includes members with significant expertise in finance, accounting, and corporate governance, ensuring robust oversight[81][84] - The company has adopted the principles and code provisions of the Corporate Governance Code as the basis for its governance practices[98] - The company has a strong focus on ethical business practices and corporate governance across all levels of its operations[97] - The company has implemented various policies, including an employee code of conduct and anti-corruption measures, to ensure compliance and ethical behavior[97] - The board consists of four executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced decision-making process[99] - The board has established an independence assessment mechanism to ensure independent viewpoints are obtained, with at least three independent non-executive directors required[105] - The company has adopted best practices as outlined in the corporate governance code to enhance governance standards[102] - The company has a whistleblowing policy in place for employees and business associates to raise concerns[132] - The board is responsible for guiding and monitoring the company's operations and financial performance[123] Market and Industry Trends - The automotive market in China saw production and sales growth of 11.6% and 12.0% respectively in 2023, with the new energy vehicle market share rising to 31.6%[20] - The company is focused on providing comprehensive mold services and solutions, including product analysis and mold design[19] - The company plans to continue expanding its market presence amid increasing competition in the automotive and appliance sectors[20] - The company is actively involved in the automotive lightweight application sector, indicating potential for market expansion[93] - The company aims to assist China in becoming a global manufacturing powerhouse[97] - The vision is to become a globally recognized automotive lightweight application provider[97] Risks and Challenges - The group faces significant risks, including reliance on five major customers, which could adversely impact business and financial conditions if sales decrease or cease[198] - The group does not have long-term procurement contracts with customers, making it vulnerable to demand fluctuations that could negatively affect business performance and outlook[198] - The group is exposed to raw material price volatility, which may impact financial performance as it cannot always pass cost increases to customers[198] - The group faces risks related to obsolete and unsold inventory, potentially affecting cash flow and liquidity[198] - The group may not successfully implement business strategies and future plans, which could adversely affect profitability and outlook[198] Employee and Operational Strategies - The total employee cost for the fiscal year 2023 was approximately RMB 47.0 million, up from RMB 44.1 million in the fiscal year 2022, primarily due to increased direct labor costs[57] - The company is focused on improving its operational strategies and marketing approaches to drive growth[74] - The company is actively expanding its production facilities and capabilities to enhance operational efficiency[72] - The management team has extensive experience in the mold industry, with key executives having over 33 years of experience collectively[74][75][76] - The company aims to attract and retain high-quality employees through competitive compensation, regularly reviewing remuneration packages based on performance and market standards[138] Compliance and Risk Management - The company has established a risk management framework to address various operational risks[199] - The board confirmed the effectiveness of the risk management and internal control systems for the year ending December 31, 2023, based on management reports and internal audit results[162] - The audit committee assists the board in overseeing the design, implementation, and monitoring of risk management and internal control systems[158] - The company has adopted anti-fraud and anti-corruption policies to uphold the highest standards of integrity and ethical behavior[162] - The company has implemented monitoring procedures to prevent unauthorized access to and use of insider information[163]

Financial Performance - Revenue for the fiscal year ended December 31, 2023, was RMB 218.698 million, representing a 10.2% increase from RMB 198.543 million in 2022[2] - Gross profit for the same period was RMB 50.878 million, up 14.2% from RMB 44.558 million in the previous year[2] - The gross profit margin improved to 23.3%, an increase of 0.9 percentage points from 22.4% in 2022[2] - Net profit attributable to the owners of the company was RMB 20.552 million, reflecting an 18.7% increase from RMB 17.312 million in 2022[3] - Basic and diluted earnings per share for the year were both RMB 3.1, a 19.2% increase compared to RMB 2.6 in the prior year[2] - Total comprehensive income for the year was RMB 21.212 million, compared to RMB 20.859 million in 2022[6] - Other income and gains for the year amounted to RMB 6.486 million, compared to RMB 3.792 million in 2022[3] - The company reported a pre-tax profit of RMB 24.694 million, up from RMB 18.609 million in the previous year[3] Assets and Liabilities - Non-current assets increased to RMB 201,200 thousand in 2023 from RMB 149,621 thousand in 2022, representing a growth of 34.5%[8] - Current assets remained stable at RMB 417,863 thousand in 2023 compared to RMB 417,178 thousand in 2022, showing a slight increase of 0.2%[8] - Total current liabilities rose to RMB 259,961 thousand in 2023 from RMB 232,453 thousand in 2022, an increase of 11.9%[8] - Non-current liabilities increased to RMB 16,903 thousand in 2023 from RMB 11,836 thousand in 2022, reflecting a growth of 42.8%[9] - Total equity reached RMB 342,199 thousand in 2023, up from RMB 322,510 thousand in 2022, indicating a growth of 6.1%[9] - The company reported a net asset value of RMB 342,199 thousand in 2023, compared to RMB 322,510 thousand in 2022, reflecting a growth of 6.1%[9] - The company’s total liabilities increased to RMB 276,864 thousand in 2023 from RMB 244,289 thousand in 2022, an increase of 13.3%[9] Revenue Breakdown - Revenue from automotive molds was RMB 164,911,000, up 20.2% from RMB 137,328,000 in the previous year[26] - Revenue from electrical product molds decreased to RMB 38,368,000, down 5.3% from RMB 40,442,000 in 2022[26] - Revenue from major customers (those contributing 10% or more) totaled RMB 125,566,000, compared to RMB 64,619,000 in the previous year, representing a significant increase[27] - Revenue from overseas markets was RMB 9,445,000, a decrease of 24.5% from RMB 12,580,000 in 2022[26] Expenses and Costs - The cost of raw materials consumed was RMB 74,099 thousand, an increase from RMB 68,443 thousand in the previous period, reflecting a growth of approximately 10.2%[36] - Direct labor costs amounted to RMB 27,164 thousand, up from RMB 25,042 thousand, representing an increase of about 8.5%[36] - Total operating expenses were RMB 19,881 thousand, an increase from RMB 19,008 thousand, reflecting a growth of approximately 4.6%[36] - Selling and distribution expenses rose from approximately RMB 5.9 million in fiscal year 2022 to approximately RMB 6.8 million in fiscal year 2023, primarily due to increased employee costs[76] - General and administrative expenses increased from approximately RMB 23.2 million in fiscal year 2022 to approximately RMB 25.4 million in fiscal year 2023, an increase of about RMB 2.2 million or 9.6%[77] Taxation - The effective corporate income tax rate for the reporting period was 15% due to the recognition of the company as a high-tech enterprise, down from the standard rate of 25%[38] - The total tax expense for the year was RMB 3,505,000, compared to RMB 999,000 in the previous year, representing a significant increase[43] - The effective tax rate applied was 25%, consistent with the previous year[42] Dividends and Shareholder Information - The proposed final dividend is HKD 0.241 per share, totaling approximately HKD 1.6 million, subject to shareholder approval[2] - The annual general meeting is scheduled for June 13, 2024, and will determine the eligibility for the final dividend[120] Future Outlook and Strategy - The company plans to complete the construction of a new factory in Kunshan, Jiangsu Province by the end of 2023, which will enhance production efficiency and reduce logistics costs[66] - The overall automotive market in China is expected to maintain stable development in 2024, with the new energy vehicle market penetration likely to continue expanding[65] - The company faces intense competition in the automotive and automotive mold markets, which is expected to escalate in 2024[65] Compliance and Governance - The audit committee has reviewed the consolidated financial statements for the fiscal year ending December 31, 2023, ensuring compliance with accounting principles and internal controls[122] - The independent auditor confirmed that the financial figures in the announcement are consistent with the audited financial statements for the fiscal year 2023[123] - The company has maintained compliance with all corporate governance rules as of December 31, 2023, except for rules C.2.1 and C.1.6[126]

Financial Performance - The company's revenue for the first half of 2023 was approximately RMB 106.8 million, an increase of about RMB 24.5 million or 29.7% compared to RMB 82.3 million in the same period of 2022[14]. - Gross profit for the first half of 2023 was RMB 30.0 million, representing a 48.5% increase from RMB 20.2 million in the first half of 2022[10]. - Net profit attributable to the company's owners for the first half of 2023 was RMB 13.8 million, up 77.1% from RMB 7.8 million in the same period last year[14]. - The gross profit margin improved to 28.1% in the first half of 2023, up 3.6 percentage points from 24.5% in the first half of 2022[10]. - The company achieved a profit before tax of RMB 17,002,000, which is an increase of 88.1% compared to RMB 9,054,000 in the previous year[91]. - Net profit for the period was RMB 14,426,000, reflecting an increase of 87.5% from RMB 7,702,000 in the prior year[91]. - Basic and diluted earnings per share for the period were RMB 2.1, compared to RMB 1.2 in the same period last year, indicating a 75% increase[93]. - The company reported a profit attributable to ordinary equity holders of RMB 13,771,000 for the six months ended June 30, 2023, compared to RMB 7,778,000 for the same period in 2022, marking a year-on-year increase of 76.4%[127]. Revenue Breakdown - Revenue from automotive molds was approximately RMB 78.3 million, up 28.3% from RMB 61.0 million in the first half of 2022, primarily due to increased acceptance reports from a major customer[21]. - Revenue from electrical molds increased by 81.5% to approximately RMB 19.1 million from RMB 10.6 million in the previous year, driven by an increase in orders from a key customer[21]. - The company’s sales in the Chinese market amounted to RMB 103,398 thousand, representing a significant increase of 37.9% from RMB 74,960 thousand in the previous year[117]. - The company’s overseas sales decreased to RMB 3,385 thousand, down 54.1% from RMB 7,380 thousand in the same period of 2022[117]. Assets and Liabilities - Total assets as of June 30, 2023, were RMB 597.8 million, a 5.5% increase from RMB 566.8 million at the end of 2022[11]. - The total liabilities as of June 30, 2023, were RMB 261.7 million, reflecting a 7.1% increase from RMB 244.3 million at the end of 2022[11]. - Current assets as of June 30, 2023, totaled approximately RMB 426.9 million, up from RMB 417.2 million at the end of 2022, while current liabilities increased to approximately RMB 245.2 million from RMB 232.5 million[35]. - As of June 30, 2023, the total equity of the group was approximately RMB 336.0 million, an increase from RMB 322.5 million as of December 31, 2022, primarily due to net profit recorded in the first half of 2023[38]. Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2023, was RMB 13,801,000, up 55.1% from RMB 8,859,000 in the prior year[104]. - The company reported a net cash outflow from investing activities of RMB 24,605,000, significantly higher than RMB 1,653,000 in the previous year[104]. - The company invested RMB 25,792,000 in property, plant, and equipment during the reporting period, compared to RMB 6,768,000 in the same period last year[104]. - The company has capital commitments of RMB 47,631,000 as of June 30, 2023, down from RMB 72,308,000 at the end of 2022, indicating a reduction of approximately 34.1%[164]. Corporate Governance and Shareholder Information - The company’s board of directors believes that maintaining high corporate governance standards is crucial for protecting shareholder interests and enhancing corporate value[63]. - As of June 30, 2023, Mr. Lin Wan Yi holds a 49.125% stake in the company through controlled entities[67]. - Major shareholders include Shine Art with 324,225,000 shares (49.125%) and Friendly Holdings with 91,080,000 shares (13.80%)[72]. - The company did not recommend an interim dividend for the first half of 2023, consistent with the previous year[89]. Future Plans and Market Outlook - The company plans to complete the construction of a new factory in Kunshan, Jiangsu Province by the end of 2023, which is expected to enhance production efficiency and reduce logistics costs[17]. - The penetration rate of new energy vehicles in China is expected to continue to grow, driving demand across the entire industry chain[15]. - The company is closely monitoring changes in the global political and economic landscape to adapt its business strategies for sustainable development[17]. Accounting and Compliance - The company has adopted new and revised International Financial Reporting Standards (IFRS) effective January 1, 2023, with no significant impact on its financial position or performance[116]. - The company has made amendments to its articles of association to comply with the latest listing rules effective from January 1, 2022[88]. - The audit committee reviewed the unaudited consolidated interim results for the first half of 2023, with no objections to the accounting treatment adopted by the company[85].

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，概不對 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。 Shinelong Automotive Lightweight Application Limited 勛 龍 汽 車 輕 量 化 應 用 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1930） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 佈 勛 龍 汽 車 輕 量 化 應 用 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 為「本 集 團」） 董事（「董事」）會（「董事會」）謹此宣佈本集團截至二零二三年六月三十日止 六 個 月（「二 零 二 三 年 上 半 年」）的 未 經 審 核 綜 合 中 期 業 績。本 集 團 的 中 期 業 績 已 由 本 公 司 核 數 師 按 照 香 港 會 計 師 公 會 頒 佈 的《香 港 審 閱 工 作 準 則 第2410號》「實體獨立核數師對中期財務資料的審閱」進行審閱。本集團的 中期業績亦 ...

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，概不對因本公告全部 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。 Shinelong Automotive Lightweight Application Limited 勛 龍 汽 車 輕 量 化 應 用 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1930） 截至二零二二年十二月三十一日止年度 年報之補充公告 茲提述本集團於二零二三年四月二十四日刊發之截至二零二二年十二月三十一日 止年度之年報（「年報」）。除另有界定外，本公告所用詞彙與年報所界定者具有相 同涵義。 股份獎勵計劃 除年報所載董事會報告「股份獎勵計劃」一節之披露外，董事僅此提供有關股份獎 勵計劃的進一步資料如下： (1) 於二零二二年一月一日及二零二二年十二月三十一日，根據股份獎勵計劃的 計劃授權可供授出的獎勵股份總數分別為56,752,000及57,508,000股。根據股份 獎勵計劃，服務供應商分項限額並不適用，乃由於股份獎勵計劃的合資格參 與者並不包括服務供應商。 ...