Financial Performance - The company recorded total sales revenue of approximately RMB 257.8 million for the year ended December 31, 2024, representing an increase of about 9.6% compared to RMB 235.2 million for the year ended December 31, 2023[10]. - Gross profit increased from approximately RMB 44.7 million for the year ended December 31, 2023, to approximately RMB 63.0 million for the year ended December 31, 2024[11]. - Net profit attributable to the owners of the company rose by approximately 101.7% to about RMB 11.9 million for the year ended December 31, 2024, compared to RMB 5.9 million for the previous year[11]. - The company recorded a consolidated revenue of approximately RMB 257.8 million for the year ending December 31, 2024, an increase of approximately RMB 22.5 million or 9.6% compared to RMB 235.2 million for the year ending December 31, 2023, primarily driven by increased sales of calcium sulfate raised floor products[23]. - For the year ended December 31, 2024, total revenue reached approximately RMB 257.8 million, a 9.6% increase from RMB 235.2 million in 2023[24]. - Sales of the all-steel raised floor products contributed 68.8% to total revenue, with sales increasing by 1.7% from approximately RMB 174.4 million in 2023 to RMB 177.3 million in 2024[24]. - Revenue from calcium sulfate raised floor products surged by 32.2%, rising from approximately RMB 60.9 million in 2023 to approximately RMB 80.5 million in 2024[25]. - The sales volume of calcium sulfate raised floor products increased by approximately 36.8% due to improved production efficiency after relocating the production line[26]. - Total gross profit rose to RMB 63.0 million, with an overall gross margin of 24.4%, compared to 19.0% in the previous year[29]. - Operating profit before tax increased significantly by 122.5%, from approximately RMB 6.4 million in 2023 to approximately RMB 14.3 million in 2024[31]. Market Trends - The Chinese flooring materials market is estimated to reach USD 90 billion in 2024, driven by urbanization and infrastructure growth[12]. - The global flooring materials market is projected to reach USD 416.6 billion in 2024, with a compound annual growth rate of 7.2% expected by 2030[12]. - The construction industry is experiencing mixed trends, with residential construction facing significant challenges, while commercial construction shows signs of slight recovery[12]. - The demand for raised floor products in China is expected to grow steadily due to factors such as increased investment in new office buildings and stricter government policies[17]. - The penetration rate of calcium sulfate raised floor products continues to rise due to their high performance, contributing to the overall market growth[17]. Company Strategy and Operations - The company plans to adapt quickly to market changes and focus on long-term growth by advancing technology and upgrading production lines[13]. - The company aims to enhance production capacity and efficiency through various initiatives, including the acquisition of land and construction of new facilities, with a total planned expenditure of approximately HKD 85.8 million[22]. - The company plans to install five additional production lines and upgrade existing production lines with automated machinery, with a budget allocation of approximately HKD 5.1 million for this purpose[22]. - The company is committed to improving product design, functionality, and quality satisfaction through a dedicated R&D team[19]. - The company will increase participation in trade fairs and exhibitions as part of its marketing strategy to enhance brand recognition and expand its customer base[18]. Research and Development - The company's R&D expenditure for the year ending December 31, 2024, is approximately RMB 11.4 million, compared to RMB 10.6 million for the year ending December 31, 2023[19]. - The company has established a strong position in the Chinese raised floor manufacturing industry, holding certifications such as ISO 9001:2015, ISO 14001:2015, and OHSAS 18001:2007[19]. Financial Health and Liabilities - The company faced an increase in impairment provisions for contract assets and trade receivables, amounting to RMB 11.2 million for the year ended December 31, 2024, compared to RMB 7.6 million for the previous year[11]. - Total assets as of December 31, 2024, are approximately RMB 492.3 million, an increase from RMB 483.1 million in 2023[41]. - Cash and cash equivalents as of December 31, 2024, amount to approximately RMB 46.9 million, compared to RMB 41.9 million in 2023[41]. - Total liabilities as of December 31, 2024, are approximately RMB 167.3 million, a decrease from RMB 170.1 million in 2023[41]. - The debt-to-equity ratio as of December 31, 2024, is approximately 11.7%, down from 14.3% in 2023[41]. - The total expected credit loss provision for contract assets amounts to RMB 3,361,000, with a net book value of RMB 51,221,000[36]. - The total expected credit loss rate for trade receivables and notes is 20.04%, with a total expected credit loss provision of RMB 50,599,000[36]. Environmental, Social, and Governance (ESG) - The group aims to transition to a low-carbon economy by reducing resource usage, including energy, water, and paper[77]. - The group has identified 21 significant environmental, social, and governance (ESG) issues based on stakeholder expectations and feedback[72]. - The group has implemented specific energy and waste management policies to achieve its emission reduction targets[78]. - In 2024, the total greenhouse gas emissions decreased to 2,529 tons from 4,912 tons in 2023, representing a reduction of approximately 48.6%[81]. - The company generated 757 tons of non-hazardous waste in 2024, an increase from 703 tons in 2023, reflecting a rise of approximately 7.7%[82]. - The company has begun formulating greenhouse gas emission management goals in response to China's "3060" target for carbon neutrality[93]. - The company is committed to expanding its efforts in charitable work through sustainable development strategies, fulfilling corporate social responsibility[116]. Corporate Governance - The company is committed to strong corporate governance practices, adhering to the corporate governance code as per the Hong Kong Stock Exchange rules throughout the fiscal year ending December 31, 2024[122]. - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balance of skills and experience[126]. - The company has established an independent board evaluation mechanism to enhance board efficiency and ensure independent judgment in safeguarding shareholder interests[130]. - The roles of the chairman and CEO are clearly separated to ensure a balance of power and authority[142]. - The Audit Committee is responsible for overseeing the integrity of the company's financial statements and reviewing significant financial reporting judgments[143]. Employee and Community Engagement - The company has a total of 212 employees with an employee turnover rate of approximately 9.9%[96]. - The company focuses on community investment in areas such as education, health, and environmental issues, actively engaging in community needs[121]. - The company donated a total of RMB 73,500 to support the construction of Henglin Primary School in Changzhou Economic Development Zone and to establish a local public welfare organization in Jiangsu Province[114].

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 257.788 million, representing an increase of 9.6% from RMB 235.248 million in 2023[3] - Gross profit for the same period was RMB 62.986 million, up 40.7% from RMB 44.740 million in 2023[3] - Operating profit increased to RMB 17.458 million, a 77.4% rise compared to RMB 9.823 million in the previous year[3] - Net profit attributable to the owners of the company reached RMB 11.882 million, a significant increase of 101.6% from RMB 5.890 million in 2023[3] - Basic and diluted earnings per share for 2024 were RMB 1.19, compared to RMB 0.59 in 2023, reflecting a 101.7% increase[3] - Reported segment profit for 2024 was RMB 18,756,000, up 78.2% from RMB 10,517,000 in 2023[34] - Comprehensive pre-tax profit for 2024 was RMB 14,293,000, a significant increase of 122.5% compared to RMB 6,423,000 in 2023[34] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 492.328 million, a slight increase from RMB 483.130 million in 2023[5] - The total liabilities of the group are approximately RMB 167.3 million as of December 31, 2024, down from RMB 170.1 million in 2023[92] - The debt-to-equity ratio as of December 31, 2024, is approximately 11.7%, a decrease from 14.3% in 2023[93] - The group holds cash and cash equivalents of approximately RMB 46.9 million as of December 31, 2024, compared to RMB 41.9 million in 2023[92] Revenue Breakdown - Revenue from China was RMB 225,574,000 in 2024, representing a 13.6% increase from RMB 198,519,000 in 2023[39] - The revenue from the sale of raised access floor was RMB 243,522 thousand in 2024, up from RMB 223,230 thousand in 2023, representing an increase of 9.1%[25] - The revenue contribution from all-steel raised access floor products was approximately 68.8% of total revenue for the year ended December 31, 2024, with sales amounting to approximately RMB 177.3 million, a slight increase of 1.7% from approximately RMB 174.4 million in the previous year[68] - Sales of calcium sulfate raised access floor products increased significantly by 32.2% to approximately RMB 80.5 million for the year ended December 31, 2024, up from approximately RMB 60.9 million for the year ended December 31, 2023[69] Expenses and Costs - Employee costs rose to RMB 19,450,000 in 2024, up 13.3% from RMB 17,222,000 in 2023[42] - Selling expenses rose by RMB 2,800,000 or 29.4% to RMB 12,200,000 in 2024, primarily due to increased consultancy fees for business development activities[76] - Administrative expenses increased by RMB 2,400,000 or 18.5% to RMB 15,100,000 in 2024, mainly driven by higher salaries and wages[76] - Financing costs decreased to RMB 3,165,000 in 2024 from RMB 3,400,000 in 2023, a decline of 6.9%[40] Credit and Receivables - Trade receivables rose to RMB 201.900 million, up 22.4% from RMB 164.918 million in 2023[5] - The allowance for impairment losses on trade receivables rose to RMB 50,599 thousand in 2024 from RMB 37,710 thousand in 2023, an increase of 34.1%[49] - Management closely monitors customer receivables and maintains communication to ensure timely payments, considering legal actions if necessary to recover outstanding debts[82] Market and Industry Outlook - The demand for raised access floor products in China is expected to grow due to increased construction of industrial office buildings and stricter government policies[55] - The Chinese flooring materials market is estimated to reach $90 billion in 2024, supported by urbanization and infrastructure growth[63] - The group remains optimistic about the suspended activity flooring industry and aims to adapt quickly to market changes for long-term growth[63] Corporate Governance and Compliance - The company adhered to the corporate governance code as stipulated by the Hong Kong Stock Exchange throughout the fiscal year ended December 31, 2024[104] - The audit committee, established on December 19, 2019, consists of three independent non-executive directors and reviewed the group's financial performance for the year ended December 31, 2024[108] Future Plans and Investments - The group plans to enhance product recognition and ensure cost-effectiveness by advancing technology and upgrading production lines[63] - The group has acquired land in Changzhou City for approximately HKD 20.9 million as part of its capacity enhancement strategy[65] - The group has installed five additional production lines, with an investment of approximately HKD 26.9 million, to increase production capacity[65]

Revenue Growth - For the six months ended June 30, 2024, the total revenue of JiaChen Holding Group Limited increased by approximately 24.5% to about RMB 108.7 million, compared to RMB 87.3 million for the same period in 2023[3]. - The sales revenue from the new aluminum alloy raised floor product was approximately RMB 2.4 million during the reporting period[8]. - The sales of full steel raised floors contributed approximately 78.1% to total revenue, with sales increasing by 15.8% to about RMB 84.9 million from RMB 73.3 million in the previous year[7]. - The sales of calcium sulfate raised floors saw a significant increase of 53.2%, rising from approximately RMB 14.0 million to about RMB 21.4 million[7]. - The total sales volume of raised floors for the period was 761.3 thousand square meters, compared to 641.2 thousand square meters in the same period last year[9]. - Revenue for the six months ending June 30, 2024, was RMB 108,715,000, compared to RMB 87,310,000 for the same period in 2023, representing a 24.6% increase[28]. - The total revenue from the three reportable segments for the six months ended June 30, 2024, was RMB 108,715 thousand, up from RMB 87,310 thousand in 2023, indicating a growth of 24.6%[36]. Profitability - Gross profit for the six months ended June 30, 2024, was approximately RMB 29.5 million, with a gross margin of 27.2%, up 8.6 percentage points from 18.6% in the same period of 2023[14]. - Gross profit increased to RMB 29,547,000 for the six months ending June 30, 2024, from RMB 16,204,000 in 2023, reflecting an increase of 82.7%[28]. - Operating profit rose to RMB 13,689,000 for the six months ending June 30, 2024, compared to RMB 5,709,000 in 2023, marking an increase of 139.5%[28]. - Profit before tax increased to RMB 12,059,000 for the six months ending June 30, 2024, from RMB 4,000,000 in 2023, a growth of 201.5%[28]. - Net profit for the period was RMB 9,005,000, up from RMB 3,070,000 in 2023, indicating a 194.4% increase[28]. - The profit attributable to owners of the company for the six months ended June 30, 2024, was RMB 8,958 thousand, up from RMB 3,047 thousand in the same period of 2023, marking a significant increase of 194.5%[31]. Expenses and Cash Flow - Operating expenses increased by 28.4% to approximately RMB 4.7 million, while administrative expenses rose by 23.3% to approximately RMB 11.6 million[13]. - Net cash inflow from operating activities for the period was approximately RMB 25.8 million, compared to RMB 13.4 million for the same period in 2023[22]. - As of June 30, 2024, the net cash generated from operating activities was RMB 25,832 thousand, compared to RMB 13,403 thousand for the same period in 2023, representing a 92.5% increase[32]. - The company's financing activities resulted in a net cash outflow of RMB 3,687 thousand for the six months ended June 30, 2024, compared to an inflow of RMB 48,249 thousand in the same period of 2023[32]. Assets and Liabilities - Total assets as of June 30, 2024, were approximately RMB 473.8 million, a slight decrease from RMB 483.1 million as of December 31, 2023[15]. - Total liabilities were approximately RMB 151.8 million, down from RMB 170.1 million as of December 31, 2023[15]. - The capital debt ratio was approximately 27.6% as of June 30, 2024, compared to 29.1% as of December 31, 2023[15]. - Trade receivables as of June 30, 2024, amounted to RMB 156,480,000, a decrease from RMB 201,473,000 as of December 31, 2023, indicating a reduction of 22%[54]. - Current liabilities decreased to RMB 151,763,000 as of June 30, 2024, from RMB 170,086,000 as of December 31, 2023[29]. - The company's trade payables as of June 30, 2024, were RMB 28,349,000, down from RMB 33,283,000 as of December 31, 2023, reflecting a decrease of 15%[56]. Market Outlook and Strategy - The company maintains a competitive pricing strategy and benefits from a decrease in material costs, contributing to revenue growth[3]. - The demand for raised floors is expected to grow steadily due to ongoing investments in new office buildings and the increasing construction area of industrial land in China[3]. - The company remains optimistic about the long-term development prospects of the raised floor industry despite challenges in the real estate sector[6]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[33]. Shareholder Information - Mr. Shen holds a controlled corporation interest of 272,625,000 shares, representing 27.26% of the company's equity, while his spouse holds 231,375,000 shares, accounting for 23.14%[61]. - The total equity held by Mr. Shen and his spouse amounts to 504,000,000 shares, which is 50.40% of the company's equity[61]. - Major shareholders include Jiachen Investment with 272,625,000 shares (27.26%) and Xincheng Investment with 231,375,000 shares (23.14%) as of June 30, 2024[69]. - The company has not established any arrangements that would allow directors and key executives to benefit from purchasing shares or debt securities of the company or any related entities as of June 30, 2024[68]. Corporate Governance - The company has complied with all applicable corporate governance codes during the reporting period[77]. - The Audit Committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the period[79]. - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with no dividend declared for the same period in 2023[50].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 108,715 thousand, an increase of 24.6% compared to RMB 87,310 thousand for the same period in 2023[2] - Gross profit for the same period was RMB 29,547 thousand, representing a gross margin of 27.2%, up from RMB 16,204 thousand in 2023[2] - Operating profit increased significantly to RMB 13,689 thousand, compared to RMB 5,709 thousand in the prior year, reflecting a growth of 139.5%[2] - Profit before tax reached RMB 12,059 thousand, a substantial increase from RMB 4,000 thousand in the previous year, marking a growth of 201.5%[2] - Net profit attributable to owners of the company was RMB 8,958 thousand, compared to RMB 3,047 thousand in 2023, indicating a year-on-year increase of 194.5%[2] - Basic and diluted earnings per share for the period were RMB 0.90, up from RMB 0.31 in the same period last year[2] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 473,805 thousand, a slight decrease from RMB 483,130 thousand at the end of 2023[3] - Current assets amounted to RMB 347,171 thousand, down from RMB 355,999 thousand at the end of 2023[3] - The company's total equity increased to RMB 322,042 thousand from RMB 313,037 thousand at the end of 2023, reflecting a growth of 2.4%[4] - The total assets of reportable segments as of June 30, 2024, were RMB 405,808 thousand, a decrease from RMB 435,185 thousand as of December 31, 2023[11] - The total liabilities of reportable segments decreased to RMB 141,176 thousand as of June 30, 2024, from RMB 162,592 thousand as of December 31, 2023[11] Revenue Breakdown - Revenue from external customers in China was RMB 89,927 thousand for the six months ended June 30, 2024, compared to RMB 77,332 thousand in 2023, indicating a growth of 16.5%[12] - The company reported a significant increase in sales of raised flooring, generating RMB 98,451 thousand in revenue for the six months ended June 30, 2024, compared to RMB 82,304 thousand in 2023[13] - The revenue from sales of active shelving was RMB 68,697 thousand for the six months ended June 30, 2024, compared to RMB 66,451 thousand in 2023, showing a growth of 3.4%[14] - The sales revenue from all-steel raised flooring contributed approximately 78.1% of total revenue, increasing by 15.8% to approximately RMB 84.9 million[36] - The sales revenue from calcium sulfate raised flooring increased significantly by 53.2% to approximately RMB 21.4 million[36] - The newly launched aluminum alloy raised flooring generated sales revenue of approximately RMB 2.4 million[37] Segment Performance - For the six months ended June 30, 2024, total revenue from reportable segments reached RMB 108,715 thousand, a 24.6% increase from RMB 87,310 thousand in the same period of 2023[10] - The gross profit for reportable segments was RMB 29,547 thousand for the six months ended June 30, 2024, compared to RMB 16,204 thousand in 2023, reflecting an increase of 82.7%[10] - The reportable segment performance showed a profit of RMB 13,729 thousand for the six months ended June 30, 2024, up from RMB 5,183 thousand in the same period of 2023, representing a growth of 164.5%[10] Costs and Expenses - Research and development costs for the six months ended June 30, 2024, were RMB 4,287 thousand, slightly up from RMB 4,237 thousand in 2023, an increase of 1.2%[18] - The company incurred financing costs of RMB 1,630 thousand for the six months ended June 30, 2024, compared to RMB 1,709 thousand in 2023, a decrease of 4.6%[16] - Sales expenses rose by approximately RMB 1.0 million or 28.4% to about RMB 4.7 million for the period, while administrative expenses increased by approximately RMB 2.2 million or 23.3% to about RMB 11.6 million[41] Cash Flow and Investments - The group held cash and cash equivalents of approximately RMB 58.0 million as of June 30, 2024, an increase from RMB 41.9 million as of December 31, 2023[43] - The company plans to utilize HKD 20.9 million (24.4%) for the acquisition of land in Changzhou City, which has been fully utilized[49] - HKD 21.9 million (25.5%) is allocated for the construction of two new factory buildings for production and inventory, which has also been fully utilized[49] - The installation of five additional production lines has been allocated HKD 26.9 million (31.4%), fully utilized as well[49] - Environmental energy-saving facilities and equipment installation received HKD 2.2 million (2.6%), fully utilized[49] - The company has allocated HKD 5.1 million (5.9%) for the purchase of automated machinery and equipment to upgrade existing production lines, fully utilized[49] Market Outlook - The company anticipates stable growth in the demand for raised flooring products in China due to ongoing investments in new office buildings and increasing industrial land construction area[32] - The demand for raised flooring is expected to rise due to stricter government policies and the increasing number of aging office buildings in China[32] - The high-tech industry investment in China increased by 10.6%, correlating with the rising demand for data center construction and raised flooring[34] Corporate Governance - The audit committee has reviewed the interim financial results, ensuring compliance with corporate governance standards[57] - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[22] - There were no related party transactions or significant subsequent events reported during the period[52][56]

Financial Performance - For the year ending December 31, 2023, the company recorded total sales revenue of approximately RMB 2.352 billion, an increase of about 3.5% from RMB 2.273 billion for the year ending December 31, 2022[10]. - The net profit attributable to the owners of the company decreased by approximately 44.9% to about RMB 59 million, down from RMB 107 million for the previous year, primarily due to a 31.8% increase in sales expenses and a 14.8% increase in administrative expenses[10]. - The company recorded a consolidated revenue of approximately RMB 235.2 million for the year ended December 31, 2023, an increase of about RMB 8.0 million or 3.5% compared to RMB 227.3 million for the year ended December 31, 2022[24]. - For the year ended December 31, 2023, total revenue was approximately RMB 235.2 million, an increase of 3.4% from RMB 227.3 million in 2022[25]. - The pre-tax profit decreased from approximately RMB 11.6 million in 2022 to RMB 6.4 million in 2023, mainly due to increased sales and administrative expenses[33]. - The company reported a provision for impairment of approximately RMB 76 million for contract assets and trade receivables, compared to RMB 50 million in the previous year, negatively impacting net profit[10]. Market Conditions - The GDP growth in China for 2023 was 5.2%, exceeding the target of 5% and surpassing the 3% growth in 2022, indicating economic resilience supported by government policies[11]. - The manufacturing PMI fell below the expansion-contraction threshold of 50, with a reading of 49.0 in December 2023, suggesting a slight decline in economic activity[11]. - The company acknowledges the challenges in the real estate market, with a slight increase in vacancy rates in commercial properties and ongoing pressure in the residential market[11]. Product Performance - Sales of all-steel raised floor products contributed 74.1% to total revenue, decreasing by 10.9% from approximately RMB 195.6 million in 2022 to RMB 174.4 million in 2023 due to a slowdown in the commercial building sector in China[25][26]. - Revenue from sales of calcium sulfate raised floor products increased significantly by 92.4%, from approximately RMB 31.6 million in 2022 to RMB 60.9 million in 2023, attributed to improved production capacity and efficiency[26]. - The sales of calcium sulfate raised floor products contributed to the increase in revenue, while the sales of steel raised floor products saw a decline[24]. Operational Strategy - The company remains optimistic about the medium to long-term prospects for its raised access floor products and is focused on improving production technology and maintaining effective cost control[13]. - The company plans to continue adjusting its direction and concentrating resources to enhance product recognition and achieve success in the next phase[13]. - The company aims to enhance production capacity and efficiency, with a total planned expenditure of HKD 85.8 million, of which HKD 78.2 million has been utilized as of December 31, 2023[22]. - The company plans to install five additional production lines as part of its strategy to enhance production capabilities[22]. - The company is focusing on expanding its customer base through participation in trade fairs and exhibitions[18]. Research and Development - Research and development expenses for the year ended December 31, 2023, were approximately RMB 10.6 million, compared to RMB 10.0 million for the year ended December 31, 2022[19]. - The company has achieved significant improvements in product design and quality through its dedicated R&D team[19]. Environmental, Social, and Governance (ESG) - The group emphasizes its commitment to environmental, social, and governance (ESG) performance, aligning with the guidelines set by the Hong Kong Stock Exchange[66]. - The board is responsible for assessing and managing ESG-related risks, ensuring effective internal controls are in place[67]. - The total greenhouse gas emissions for 2023 amounted to 4,913 tons of CO2, an increase of 45.0% from 3,391 tons in 2022[80]. - The company generated 703 tons of non-hazardous waste in 2023, up 64.8% from 426 tons in 2022[81]. - The company has implemented policies to reduce CO2 emissions, including regular maintenance checks on waste gas and wastewater management systems[80]. - The company is committed to eliminating discrimination and providing equal opportunities, enhancing employee satisfaction and diversity[96]. Corporate Governance - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balance of skills and experience[135]. - The company has established an independent board evaluation mechanism to enhance board efficiency and identify areas for improvement, with satisfactory results reported for the fiscal year[139]. - The company has a remuneration policy that ensures compensation for employees, including directors and senior management, is based on skills, knowledge, and responsibilities[136]. - The board confirmed compliance with the securities trading code for the year ended December 31, 2023, with no known violations[166]. Employee Management - Total employee costs for the year amounted to approximately RMB 17.2 million, up from RMB 15.1 million in the previous year, with the number of employees increasing to 198 from 175[42]. - As of December 31, 2023, the company had 198 employees with an employee turnover rate of approximately 8.6%[97]. - All employees received training, with 100% participation and an average training time of 8 hours across all categories[104]. Financial Position - As of December 31, 2023, total assets were approximately RMB 483.1 million, up from RMB 447.8 million in 2022, while total liabilities increased to approximately RMB 170.1 million[35]. - The company held cash and cash equivalents of approximately RMB 41.9 million as of December 31, 2023, down from RMB 47.2 million in 2022[35]. - The company’s bank borrowings amounted to approximately RMB 91.0 million, with interest rates ranging from 3.00% to 3.65%[35]. - The debt-to-equity ratio was approximately 14.3%, an increase from 10.0% as of December 31, 2022, primarily due to increased bank borrowings and decreased cash and cash equivalents[37]. Community Engagement - The group donated RMB 30,000 to local charitable organizations in Changzhou, Jiangsu Province, and employees participated in government-organized blood donation activities[118]. - The company engages in community participation to understand local needs and ensure business activities consider community interests[132].

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 235,248,000, an increase of 3.4% from RMB 227,270,000 in 2022[3] - Gross profit for the year was RMB 44,740,000, compared to RMB 43,064,000 in the previous year, reflecting a gross margin improvement[3] - Operating profit decreased to RMB 9,823,000 from RMB 15,066,000, indicating a decline of 34.5% year-over-year[3] - Net profit for the year was RMB 5,935,000, down from RMB 10,747,000 in 2022, representing a decrease of 44.9%[3] - Basic and diluted earnings per share were RMB 0.59, down from RMB 1.07 in the previous year[3] Assets and Liabilities - Total assets increased to RMB 483,130,000 from RMB 447,816,000, showing a growth of 7.9%[5] - Non-current assets rose to RMB 127,131,000 from RMB 108,866,000, an increase of 16.7%[5] - Current liabilities increased to RMB 170,086,000 from RMB 140,662,000, reflecting a rise of 20.9%[6] - The company's equity attributable to owners increased to RMB 311,628,000 from RMB 305,738,000, a growth of 1.3%[6] - Cash and cash equivalents decreased to RMB 41,881,000 from RMB 47,245,000, a decline of 11.4%[5] Revenue Breakdown - Revenue from the supply of aerial activity platforms was RMB 69,038 thousand, up 45.6% from RMB 47,421 thousand in 2022[23] - Revenue from the all-steel raised floor products decreased by 10.9% to approximately RMB 174.4 million, contributing about 74.1% to total revenue[67] - Revenue from the calcium sulfate raised floor products increased significantly by 92.4% to approximately RMB 60.9 million, attributed to improved production capacity and efficiency[68] - The company’s revenue from China was RMB 198,519,000 in 2023, slightly up from RMB 197,955,000 in 2022[37] - Sales in China accounted for 84.4% of total revenue, with RMB 198.5 million generated from this market[72] Expenses and Costs - Selling expenses increased by approximately RMB 2,300,000 or 31.8% to RMB 9,500,000 for the year ended December 31, 2023, mainly due to increases in salaries and business development consulting fees[74] - Administrative expenses rose by approximately RMB 3,000,000 or 14.8% to RMB 23,400,000 for the year ended December 31, 2023, driven by higher salaries and consulting fees for operational management[76] - Research and development costs for 2023 were RMB 10,627,000, an increase from RMB 9,981,000 in 2022, reflecting a focus on innovation[40] Segment Performance - The company has two reportable segments based on its product lines, which include full steel aerial activity platforms and calcium sulfate aerial activity platforms[27] - Total reportable segment revenue for 2023 was RMB 235,248,000, an increase of 3.4% from RMB 227,270,000 in 2022[32] - Reportable segment performance decreased to RMB 10,517,000 in 2023, down 30.4% from RMB 15,067,000 in 2022[32] - Reportable segment gross profit for 2023 was RMB 44,740,000, compared to RMB 43,064,000 in 2022, reflecting a slight increase of 3.9%[32] Financial Position and Governance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, with the functional currency being Renminbi (RMB)[14] - The company has adopted several new accounting standards during the current financial period, which did not have a significant impact on the financial position or performance[16] - The company has not adopted any new Hong Kong Financial Reporting Standards that are not yet effective during the current financial period[20] - The audit committee, consisting of three independent non-executive directors, reviewed the group's financial performance for the year ending December 31, 2023[96] - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules throughout the fiscal year[92] Future Outlook and Strategy - The board is optimistic about the medium to long-term prospects for raised floor demand, despite economic challenges in 2023[63] - The group plans to continue improving production techniques and enhancing production lines to maintain effective cost control and increase product recognition[63] - The group aims to expand its customer base and enhance brand recognition through participation in trade fairs and exhibitions[58] - The company is currently evaluating the impact of new accounting standards that will take effect starting January 1, 2024, and believes they will not have a significant impact on consolidated financial statements[21] Employee and Capital Expenditures - As of December 31, 2023, the group had total employee costs of approximately RMB 17.2 million, an increase from RMB 15.1 million in 2022, with 184 employees compared to 175 in the previous year[87] - Capital expenditures for the year were approximately RMB 26.6 million, slightly down from RMB 26.7 million in 2022, primarily related to construction projects and machinery purchases[90] - The company had capital commitments of approximately RMB 3,100,000 for property, plant, and equipment as of December 31, 2023, down from RMB 6,500,000 as of December 31, 2022[84]

Revenue Performance - Total revenue for the six months ended June 30, 2023, decreased by approximately 8.4% to about RMB 87.3 million from RMB 95.3 million in the same period of 2022[6] - Sales revenue from the all-steel raised floor products decreased by 13.5% to approximately RMB 73.3 million, contributing about 84.0% to total revenue[11] - Revenue from calcium sulfate raised floor products increased significantly by 32.3% to approximately RMB 14.0 million, driven by higher demand from high-end clients such as data center contractors[12] - Revenue for the six months ended June 30, 2023, was RMB 87.31 million, a decrease of 8.5% compared to RMB 95.32 million for the same period in 2022[37] - Total reported segment revenue decreased to RMB 87,310,000, a decline of 8.4% from RMB 95,319,000 in 2022[58] - Revenue from the full steel raised access floor segment was RMB 73,328,000, down 13.5% from RMB 84,749,000 in the same period last year[55] - Revenue from the calcium sulfate raised access floor segment increased by 32.9% to RMB 13,982,000 from RMB 10,570,000[55] - Revenue from installation services was RMB 5,006,000, a slight decrease from RMB 5,441,000 in the prior year[63] - Revenue from other countries and regions amounted to RMB 9,978,000, an increase of 26.1% from RMB 7,906,000 in 2022[62] Profitability - For the six months ended June 30, 2023, the total gross profit was approximately RMB 16,204,000, a decrease of 24.7% from RMB 21,481,000 for the same period in 2022, with a gross margin of 18.6%, down 3.9 percentage points from 22.5%[16] - Operating profit for the period was approximately RMB 3,100,000, a decline of 54.4% from RMB 6,700,000 for the six months ended June 30, 2022[20] - Gross profit for the same period was RMB 16.20 million, down 24.8% from RMB 21.48 million in 2022[37] - Operating profit decreased to RMB 5.71 million, a decline of 45.0% from RMB 10.40 million in the previous year[37] - Net profit for the period was RMB 3.07 million, down 54.4% from RMB 6.74 million in 2022[37] - Reported segment profit was RMB 5,183,000, down 50.5% from RMB 10,479,000 in the previous year[58] Expenses and Costs - Selling and distribution expenses increased by approximately RMB 1,300,000 or 55.3% to RMB 3,600,000, primarily due to higher employee and travel costs[18] - Total financing costs decreased to RMB 1,709,000 from RMB 1,767,000, a reduction of 3.3%[68] - Research and development costs were RMB 4,237,000, slightly up from RMB 4,147,000, indicating a growth of 2.2%[71] Assets and Liabilities - The total assets as of June 30, 2023, were approximately RMB 491,400,000, an increase from RMB 447,800,000 as of December 31, 2022[21] - The total liabilities increased to approximately RMB 181,300,000 as of June 30, 2023, compared to RMB 140,700,000 as of December 31, 2022, with bank borrowings rising to RMB 130,000,000[21] - The cash and cash equivalents increased significantly to approximately RMB 98,900,000 as of June 30, 2023, from RMB 47,200,000 as of December 31, 2022[21] - Total assets increased to RMB 491.44 million as of June 30, 2023, compared to RMB 447.82 million at the end of 2022, reflecting a growth of 9.7%[39] - Cash and cash equivalents rose significantly to RMB 98.91 million from RMB 47.25 million, an increase of 109.5%[39] - Trade receivables decreased to RMB 133,240,000 as of June 30, 2023, down 24.1% from RMB 175,490,000 as of December 31, 2022[84] - Contract assets as of June 30, 2023, totaled RMB 91,408,000, an increase of 6.5% from RMB 85,643,000 as of December 31, 2022[81] - Contract liabilities increased to RMB 3,584,000 as of June 30, 2023, from RMB 2,095,000 as of December 31, 2022, reflecting a growth of 71.2%[88] - The total trade payables as of June 30, 2023, were RMB 23,169,000, an increase of 21.1% from RMB 19,148,000 as of December 31, 2022[86] Cash Flow - The net cash inflow from operating activities was approximately RMB 13,400,000 for the period, down from RMB 44,800,000 for the same period in 2022[30] - Net cash generated from operating activities for the six months ended June 30, 2023, was RMB 13,403,000, a decrease of 70% compared to RMB 44,839,000 in 2022[45] - Total cash used in investing activities was RMB 9,989,000, an improvement from RMB 15,876,000 in the previous year[45] Corporate Governance and Management - The company did not declare any interim dividends for the six months ended June 30, 2023, consistent with the previous year[77] - The effective corporate income tax rate for the company is 15% due to its recognition as a "high-tech enterprise" in China[74] - The company has not granted any stock options since the adoption of the stock option plan on December 19, 2019, and there are no unexercised stock options as of June 30, 2023[96] - The company did not enter into any related party transactions or continuing connected transactions during the reporting period[102] - The board confirmed that there were no direct or indirect competitive businesses involving directors or their close associates during the reporting period[103] - The company believes it has complied with all applicable corporate governance code provisions during the reporting period[106] - The audit committee, established on December 19, 2019, consists of three independent non-executive directors and is responsible for reviewing financial reporting procedures and internal controls[110] Shareholding Structure - As of June 30, 2023, Mr. Shen holds 509,000,000 shares, representing 50.90% of the company’s equity[93] - As of June 30, 2023, 嘉辰投資 holds 277,625,000 shares, representing 27.76% of the company's equity[99] - 鑫辰投資 owns 231,375,000 shares, accounting for 23.14% of the company's equity[99] - 沈明輝先生 is deemed to have interests in 131,475,000 shares held by 億龍投資, which constitutes 13.15% of the company's equity[99] - 環球運鴻集團有限公司 holds 100,000,000 shares, making up 10.00% of the company's equity[99]

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 全部或任何部份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。 JiaChen Holding Group Limited 佳 辰 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1937） 截 至2023年6月30日 止 六 個 月 的 中 期 業 績 公 告 業績 佳辰控股集團有限公司（「本公司」）董事（「董事」）會（「董事會」）呈列本公司及其 附屬公司（統稱「本集團」）截至2023年6月30日止六個月（「本期間」）的未經審核簡 明綜合中期業績，連同2022年同期的比較數字如下： ...

Employee Training and Turnover - 100% of male and female employees participated in training, with an average training time of 1 hour for males and 0.7 hours for females[1] - The total number of employees as of December 31, 2022, was 175, with an overall employee turnover rate of approximately 16.6%[8] - The employee turnover rate was 15.8% for males and 18.5% for females, with the highest turnover rate of 19.2% observed in the 41 to 50 age group[10] - The company aims to improve employee retention by enhancing employee benefits and communication[9] - The company is committed to maintaining a non-discriminatory environment and providing equal opportunities for all employees, regardless of age, gender, race, disability, or marital status[7] - The company actively encourages diversity in its workforce and welcomes individuals from all backgrounds[7] - There were zero work-related injuries or fatalities reported in the year ending December 31, 2022[14] Financial Performance - Sales revenue from all-steel raised floor products contributed approximately 86.1% to total revenue for the year ended December 31, 2022, amounting to about RMB 195.6 million, a decrease of 16.3% from RMB 233.8 million in the previous year[43] - The group's pre-tax profit significantly decreased from approximately RMB 28.0 million for the year ended December 31, 2021, to about RMB 11.6 million for the year ended December 31, 2022, primarily due to the economic slowdown in the commercial construction industry caused by COVID-19 control measures[51] - The company's consolidated revenue for the year ended December 31, 2022, was approximately RMB 227.3 million, a decrease of about RMB 47.7 million or 17.3% compared to RMB 274.9 million for the year ended December 31, 2021[62] - Sales revenue from calcium sulfate raised access floor products decreased by 23.0% from approximately RMB 41.1 million to approximately RMB 31.6 million for the same periods[66] - The gross margin for the all-steel raised access floor products decreased by approximately 1.8 percentage points for the year ended December 31, 2022, while the gross margin for calcium sulfate raised access floor products decreased by approximately 15.0 percentage points[70] Environmental Impact and Sustainability - The group is actively developing photovoltaic products and solutions as part of its greenhouse gas emission control goals and action plans[30] - The group has initiated the formulation of greenhouse gas emission management targets in response to China's "3060 goals"[30] - The group has begun implementing a series of decarbonization actions as part of its greenhouse gas reduction strategy and target-setting efforts[30] - The company has identified 21 significant environmental, social, and governance (ESG) issues based on stakeholder feedback and industry trends[171] - Key environmental concerns include greenhouse gas emissions, waste generation, and resource consumption, with a focus on reducing carbon emissions during manufacturing[174][176] - The company has implemented policies to mitigate carbon emissions, such as maintaining office temperatures at 26°C[177] - In the year ending December 31, 2022, the total carbon dioxide emissions (Scope 1 and 2) were 3,391 tons, a decrease from 4,371 tons in 2021, representing a reduction of approximately 22.4%[196] - Nitrogen dioxide emissions decreased to 11.8 kg in 2022 from 40.0 kg in 2021, marking a reduction of 70.5%[196] - Sulfur dioxide emissions were reduced to 0.3 kg in 2022 from 0.8 kg in 2021, a decrease of 62.5%[196] - The company achieved a reduction in particulate matter emissions, decreasing from 2.9 kg in 2021 to 0.8 kg in 2022, a reduction of 72.4%[196] - The carbon emission density per facility was reduced to 0.12 tons of CO2 in 2022 from 0.15 tons in 2021, a decrease of 20%[196] Financial Position and Liabilities - The overall expected credit loss rate for trade receivables and contract assets as of December 31, 2022, was 16.59%, an increase from 15.83% in 2021, attributed to a higher proportion of overdue receivables exceeding one month[82] - The debt-to-equity ratio as of December 31, 2022, was approximately 10.0%, up from 7.8% as of December 31, 2021, mainly due to a decrease in bank balances and cash[85] - As of December 31, 2022, the total liabilities of the group were approximately RMB 1.407 billion, an increase from RMB 1.317 billion as of December 31, 2021[111] - The bank borrowings amounted to approximately RMB 800 million as of December 31, 2022, with interest rates ranging from 3.55% to 4.70%[111] - The asset-liability ratio was approximately 26.1% as of December 31, 2022, compared to 27.4% as of December 31, 2021[112] Governance and Stakeholder Engagement - Stakeholder engagement includes communication channels for government, shareholders, employees, suppliers, customers, and the community, ensuring transparency and compliance with regulations[169] - The board is responsible for assessing and managing ESG-related risks, ensuring effective internal controls are in place[167] - The report adheres to the Hong Kong Stock Exchange's ESG reporting guidelines, emphasizing the importance of quantifiable data and balanced presentation[164][165] - The company prioritizes employee welfare, career development, and occupational safety as part of its governance strategy[169] - The importance matrix categorizes ESG issues based on their relevance to stakeholders and the company's development, highlighting critical areas for focus[172] - The company is committed to sustainable development practices, aligning its operations with stakeholder expectations and regulatory requirements[163] Cash Flow and Investments - The group recorded a net cash inflow from operating activities of approximately RMB 282 million for the year ended December 31, 2022, a significant improvement from a net cash outflow of RMB 150 million for the previous year[119] - Capital expenditures for the year ended December 31, 2022, were approximately RMB 267 million, up from RMB 59 million in the previous year[119] - The net cash outflow from financing activities was approximately RMB 46 million for the year ended December 31, 2022, compared to a net cash inflow of RMB 59 million in the previous year[120] - The net cash outflow from investing activities for the year ended December 31, 2022, was approximately RMB 31.7 million, compared to a net cash inflow of approximately RMB 11.8 million in 2021[148] - The group did not have any significant investments, acquisitions, or disposals planned as of December 31, 2022[115] Future Outlook - The expected GDP growth rate for China in 2023 is projected at 5%, which is considered reasonable based on credit analysts' estimates[80] - The company anticipates a GDP growth rate of 5.2% for China in 2023, closely aligning with management's estimate of 5%[103]

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 全部或任何部份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。 JiaChen Holding Group Limited 佳 辰 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1937） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 的 全 年 業 績 公 告 業績 佳辰控股集團有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此呈列本公司 及附屬公司（統稱為「本集團」）截至二零二二年十二月三十一日止年度的綜合 財務業績，連同截至二零二一年十二月三十一日止年度的比較數字如下： ...