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之內容概不負責，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依賴該 等內容而引致之任何損失承擔任何責任。 DIWANG INDUSTRIAL HOLDINGS LIMITED 帝 王 實 業 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） 1950 （股份代號： ） 2022 12 31 截至 年 月 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501,437,000元（2021年：約人民幣233,945,000 元），較上年同期增加114.3%。 截至2022年12月31日止年度，毛利約為人民幣193,698,000元（2021年：約人民幣38,875,000 元），較上年同期增加398.3%。 截至2022年12月31日止年度，本公司擁有人應佔年內溢利為約人民幣21,851,000元，而本集團 於上一年度錄得本公司擁有人應佔年內虧損約人民幣2,600,000元。 截至2022年12月31日止年度，本公司每股基本盈利為人民幣1.70分（2021年：每股基本虧 ...

Financial Performance - The company reported a revenue of HKD 500 million for the first half of 2022, representing a 15% increase compared to the same period last year[20]. - For the six months ended June 30, 2022, the Group's revenue was approximately RMB199,737,000, representing an increase of approximately RMB106,219,000 or 113.6% compared to the prior period[21]. - Revenue for the six months ended June 30, 2022, was RMB 199,737,000, a 113% increase from RMB 93,518,000 in the same period of 2021[117]. - The Group's total revenue for the six months ended June 30, 2022, was RMB 199,737,000, a significant increase of 113.4% compared to RMB 93,518,000 for the same period in 2021[164]. - The Group recorded a net profit of approximately RMB6,655,000, a decrease of approximately RMB2,324,000 or 25.9% compared to the prior period, primarily due to losses on investments in financial assets[21]. - Profit before tax for the period was RMB 14,527,000, up from RMB 9,413,000 in the previous year, indicating a 54% growth[117]. - The Group's profit for the period attributable to owners of the Company was RMB 257,000, a decrease of 97.1% from RMB 8,979,000 in the same period of 2021[184]. - Basic earnings per share for the six months ended June 30, 2022, was 0.02 RMB cents, down from 0.82 RMB cents in the same period of 2021[185]. Growth and Outlook - The company has provided a positive outlook for the second half of 2022, projecting a revenue growth of 20% year-on-year[20]. - User data showed a growth in active users by 25%, reaching a total of 1.2 million users by the end of June 2022[20]. - New product launches are expected to contribute an additional HKD 100 million in revenue by the end of 2022[20]. - Market expansion plans include entering two new regions in Southeast Asia by Q4 2022, targeting a market share increase of 10%[20]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of HKD 200 million allocated for potential deals[20]. Cost Management and Profitability - The gross profit margin improved to 35%, up from 30% in the previous year, indicating better cost management[20]. - The gross profit for the same period was approximately RMB57,054,000, reflecting an increase of approximately RMB40,768,000 or 250.3% compared to the prior period[21]. - The gross profit margin for the faux leather chemicals business decreased from approximately 17.4% to approximately 13.9% due to rising raw material prices and a shift in demand to lower-priced products[26]. - The Group aims to reduce operational costs by 10% through efficiency improvements in the supply chain[20]. Investments and Capital Expenditure - The Group's capital expenditure during the period was approximately RMB 15,874,000, representing an increase of RMB 3,847,000 compared to RMB 12,027,000 in the prior period[43]. - The net proceeds from the placing of 240,000,000 shares were approximately HK$ 42,580,000 (equivalent to approximately RMB 36,947,000) intended for the development of the Chinese Liquor Business[46]. - The establishment of a new production plant utilized RMB 43.3 million of the proceeds from the Initial Public Offering[76]. - The enhancement of the automation system at the existing Jiande Production Plant accounted for RMB 11.9 million of the proceeds[76]. - The strengthening of research and development capabilities used RMB 15.8 million from the proceeds[76]. Financial Position - As of June 30, 2022, the Group's current assets were approximately RMB 215,890,000, an increase from RMB 194,073,000 as of December 31, 2021, while current liabilities rose to approximately RMB 67,221,000 from RMB 43,048,000[43]. - The current ratio decreased from approximately 4.51 times as of December 31, 2021, to approximately 3.21 times as of June 30, 2022[43]. - Total assets less current liabilities as of June 30, 2022, were RMB 279,849,000, compared to RMB 270,126,000 as of December 31, 2021[120]. - Non-current assets increased to RMB 131,180,000 as of June 30, 2022, from RMB 119,101,000 at the end of 2021[120]. - Total liabilities increased to RMB 67,768,000 as of June 30, 2022, from RMB 43,595,000 as of December 31, 2021, reflecting a rise of approximately 55%[158]. Governance and Compliance - The Company has strictly complied with the Corporate Governance Code since the Listing Date, with exceptions noted regarding the absence of a Chairman since May 25, 2022[83]. - The Company has a structured governance framework with an established Audit Committee to oversee financial reporting[109]. - The Audit Committee, comprising independent non-executive Directors, reviewed the interim financial report and discussed internal control and financial reporting matters[109]. - The interim financial report for the period is unaudited[110]. Employee and Shareholder Information - As of June 30, 2022, the Group had a total of 330 employees, offering competitive remuneration packages and potential discretionary bonuses[64]. - The Company’s substantial shareholders include key individuals with significant shareholdings, indicating potential influence over corporate decisions[103]. - Mr. Wong Wai Yip holds a long position of 260,000,000 shares, representing approximately 21.67% of the Company's shareholding[105]. - The Board did not recommend the payment of any interim dividend for the period[38].

Financial Performance - For the six months ended June 30, 2021, the Group's revenue was approximately RMB 93,518,000, representing an increase of approximately RMB 43,606,000 or 87.4% compared to the same period in 2020[13]. - The gross profit for the Period was approximately RMB 16,286,000, reflecting an increase of approximately RMB 4,119,000 or 33.9% compared to the Prior Period[14]. - The Group recorded a net profit of approximately RMB 8,979,000, a turnaround from a net loss of RMB 6,668,000 in the Prior Period, representing an increase of approximately RMB 15,647,000[14]. - Basic and diluted earnings per share for the Period were RMB 0.82, compared to a loss of RMB 0.74 per share in the Prior Period[13]. - The absence of listing expenses in 2021 contributed significantly to the increase in net profit[14]. - The Group's financial performance indicates a strong recovery and growth trajectory following the previous year's losses[15]. - The increase in revenue was primarily driven by enhanced operational efficiency and market demand[15]. - Revenue increased by approximately RMB 43,606,000 or 87.4% from approximately RMB 49,912,000 for the Prior Period to approximately RMB 93,518,000 for the Period, primarily due to the gradual recovery of downstream and consumer demands from COVID-19[28]. - Gross profit increased by approximately RMB 4,119,000 or 33.9% to approximately RMB 16,286,000 for the Period, while gross profit margin decreased to 17.4% from 24.4% for the Prior Period due to increased raw material costs[32]. Operational Strategies - The company plans to continue focusing on expanding its market presence and improving product offerings in the upcoming periods[15]. - Future strategies may include exploring new technologies and potential acquisitions to bolster growth[15]. - The Group aims to enhance competitiveness and market share by strengthening relationships with existing customers and developing new customers[20]. - The Group plans to expand its research and development center and improve the professionalism of its technical team[20]. - The Group is actively promoting production automation and informatization to lay a foundation for long-term development[20]. - The Group is increasing efforts in product development, particularly in finishes, synthetic resins, and water-based resins[20]. - The Group is adjusting production and operation plans in response to market changes and expanding the production and sales of color chips products[17]. Economic Environment - The Group expects the operating environment to remain severely challenging due to the ongoing global epidemic and economic volatility[21]. - The Group will closely monitor economic changes to evaluate business strategies and ensure sustainable development[23]. Cash Flow and Financial Position - As of June 30, 2021, the Group's current assets were approximately RMB 214.4 million, with a current ratio decreasing from approximately 6.6 times to 6.0 times[37]. - Cash and bank balances decreased by approximately 5.2% from RMB 79.6 million as of December 31, 2020, to RMB 75.5 million as of June 30, 2021[37]. - The Group's capital expenditure for the period was approximately RMB 12.0 million, an increase of RMB 11.0 million compared to RMB 978,000 in the prior period[37]. - Net cash used in operating activities was approximately RMB 7.5 million, lower than the RMB 11.9 million used in the prior period[41]. - Net cash used in investing activities increased to approximately RMB 35.2 million from RMB 52,000 in the prior period, mainly due to increased purchases of property, plant, and equipment[41]. - The net cash from financing activities was approximately RMB 39.0 million, compared to RMB 87.7 million in the prior period[41]. - Cash and cash equivalents at the end of the period were RMB 75.5 million, down from RMB 90.6 million in the prior period[41]. - The Group maintained a net cash position as of June 30, 2021, due to a reduction in bank borrowings and an increase in cash from listing and placing proceeds[44]. Shareholder Information - The total number of shares issued by the Company as of June 30, 2021, was 1,200,000,000, with 250,000,000 shares issued at a price of HK$0.52 per share during the global offering[44]. - Net proceeds from the Global Offering were approximately RMB 72.4 million, with 60.0% allocated for the construction of a new production plant and purchase of new machinery[49]. - As of June 30, 2021, approximately RMB 35 million had been utilized from the net proceeds, with RMB 37.4 million remaining unutilized[56]. - Approximately 21.8% of the proceeds from the Global Offering will be used to enhance research and development capabilities, including hiring experts and acquiring equipment[49]. - The Group had a total of 155 employees in the PRC as of June 30, 2021, offering competitive remuneration packages[47]. Corporate Governance - The company has adopted the Corporate Governance Code to ensure transparency and accountability to shareholders[63]. - The company is committed to improving corporate governance practices to optimize returns for shareholders[63]. - The interim consolidated financial statements for the six months ended June 30, 2021, have not been audited or reviewed by the company's auditor[96]. - The Audit Committee reviewed and approved the interim results, ensuring compliance with applicable accounting standards[97]. - The company aims to maintain effective internal controls and efficient audits as part of its governance strategy[91]. - The board of directors includes both executive and independent non-executive members, ensuring diverse oversight[99]. Taxation and Compliance - The total tax charge for the period was RMB 434,000, significantly lower than RMB 865,000 in the previous year[165]. - The Group's PRC operations are subject to a corporate income tax rate of 25%, while Zhejiang Sunlight Material Co., Ltd. benefits from a reduced rate of 15% as a high-tech enterprise[165]. - The withholding tax on profit distributions to foreign investors in Mainland China is subject to rates of 5% or 10% depending on the investor's country of incorporation[165]. - The Group has not recognized any deferred income tax liability for the retained earnings in the PRC, indicating control over the timing of potential tax liabilities[166]. Employee and Remuneration - Directors' remuneration for the six months ended June 30, 2021, was RMB 406,000, slightly down from RMB 434,000 in 2020[160]. - Total staff costs (excluding directors' remuneration) for the six months ended June 30, 2021, were RMB 7,630,000, an increase from RMB 6,413,000 in 2020[160].

Financial Performance - For the year ended December 31, 2020, revenue was approximately RMB134,441,000, representing a year-on-year decrease of 26.4% from RMB182,681,000 in 2019[13] - For the year ended December 31, 2020, gross profit was approximately RMB31,599,000, a decrease of 49.0% compared to RMB61,995,000 in 2019[13] - The Group recorded a net loss of approximately RMB3,157,000 for the year ended December 31, 2020, compared to a net profit of approximately RMB24,124,000 in 2019[13] - Adjusted net profit for the year ended December 31, 2020, was approximately RMB7,089,000, representing a decrease of 80.2% from RMB35,761,000 in 2019[13] - Basic loss per share for the Company was RMB0.33 cents for the year ended December 31, 2020, compared to basic earnings per share of RMB3.22 cents in 2019[13] - The Board has resolved not to declare a final dividend for the year ended December 31, 2020[13] Impact of COVID-19 - The Group faced unprecedented challenges due to the COVID-19 pandemic, which severely restricted logistics flows and led to global trade stagnation[17] - The company's revenue decreased by approximately RMB 31,461,000 or 38.7% compared to the same period last year due to the impact of COVID-19[37] - The decline in revenue was primarily due to decreased demand in the faux leather manufacturing industries, significantly impacted by the COVID-19 outbreak and related lockdown measures[40] - The Group expects significant challenges in the business environment due to the ongoing impact of COVID-19 and uncertainties in the global economy[45] - The company continues to monitor the development of COVID-19 and assess its impact on financial results[25] Business Recovery and Strategies - In the second half of 2020, the Group's business gradually recovered, improving the quality of development[18] - In the second half of 2020, the company's revenue reached approximately 83% of the revenue for the same period last year as downstream demand began to recover[37] - Future strategies include strengthening relationships with existing customers, expanding the product portfolio, and enhancing research and development capabilities[45] - The Group actively developed new products and sourced new customers, while enhancing research and development capabilities for various products[44] - The Group plans to promote production automation and informatization to lay a foundation for long-term development[45] Revenue Sources and Composition - Revenue from colour paste accounted for approximately 44.7% and 33.3% of total revenue in 2019 and 2020, respectively; revenue from colour chips accounted for approximately 9.1% and 20.6%, respectively[54] - The Group's revenue from the PRC accounted for approximately 98.0% and 98.3% of its total revenue for the years ended 31 December 2019 and 2020, respectively[54] - The Group's revenue for the year ended December 31, 2020, was primarily derived from sales in China, accounting for approximately 98.3% of total revenue[55] Cost and Expenses - Cost of sales decreased by approximately RMB17,844,000 or 14.8%, from approximately RMB120,686,000 in 2019 to approximately RMB102,842,000 in 2020[58] - Gross profit decreased by RMB30,396,000 or 49.0%, from approximately RMB61,995,000 in 2019 to approximately RMB31,599,000 in 2020, with gross profit margin declining from 33.9% to 23.5%[58] - Selling and distribution expenses decreased by approximately RMB370,000 or 4.9%, from approximately RMB7,498,000 in 2019 to approximately RMB7,128,000 in 2020[60] - Administrative and general expenses increased by approximately RMB3,160,000 or 19.5%, from approximately RMB16,214,000 in 2019 to approximately RMB19,374,000 in 2020[60] - Finance costs decreased by approximately RMB186,000 or 27.7%, from approximately RMB672,000 in 2019 to approximately RMB486,000 in 2020[60] Cash Flow and Capital Expenditure - Net cash generated from operating activities was approximately RMB8,513,000 for the year ended 31 December 2020, higher than RMB7,185,000 for the previous year[71] - Net cash used in investing activities increased to approximately RMB19,072,000 in 2020 from RMB6,051,000 in 2019, primarily due to investments in property, plant, and equipment[73] - Net cash generated from financing activities rose significantly to approximately RMB76,803,000 in 2020 from RMB3,181,000 in 2019, mainly due to increased funds raised from listing[73] - The Group's capital expenditure for the reporting period was approximately RMB20,553,000, an increase of approximately RMB15,407,000 compared to RMB5,146,000 in 2019[63] Share Capital and Proceeds from Global Offering - As of December 31, 2020, the Company had a total of 1,000,000,000 shares issued at a price of HK$0.52 per share during the Global Offering[76] - The net proceeds from the Global Offering amounted to approximately RMB72.4 million (equivalent to approximately HK$84.7 million)[90] - Approximately 60.0% of the proceeds from the Global Offering will be used for the construction of a new production plant and the purchase of new machinery and equipment[90] - Approximately 16.4% of the proceeds will be allocated to strengthening the automation system[90] - Approximately 21.8% of the proceeds will enhance research and development capabilities, including hiring experts and acquiring equipment[90] Management and Governance - The Company has established an audit committee to review financial reporting and internal controls[109] - The remuneration policy for employees is based on merits, qualifications, and competence, with a total of 7 individuals earning between HK$0–1,000,000[119] - The Company aims to attract and retain individuals with experience and ability through its remuneration policies and share option scheme[121] - The Company is committed to maintaining high standards of corporate governance and financial transparency[160] - The management team is actively involved in overseeing the Group's financial and operational strategies to ensure sustainable growth[160] Market Position and Future Outlook - The company aims to leverage its expertise in colourants and additives for market expansion in synthetic leather and textiles[129] - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[140] - A strategic acquisition of a local competitor is anticipated to enhance production capabilities and increase market share by 5%[138] - The company provided guidance for the next fiscal year, projecting revenue growth of 25% to $625 million[137] - New product launches are expected to contribute an additional $50 million in revenue, with a focus on sustainable materials[139]

Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 49,912,000, a decrease of 38.6% compared to RMB 81,373,000 for the same period in 2019[13]. - Gross profit for the same period was RMB 12,167,000, down 58.1% from RMB 28,997,000 in 2019[13]. - The company reported a loss for the period attributable to owners of the Company of RMB (6,668,000), compared to a profit of RMB 10,210,000 in the previous year[13]. - Basic and diluted earnings per share for the period were RMB (0.74), a decline from RMB 1.36 in the prior year[13]. - The Group's revenue decreased by approximately RMB31,461,000 or 38.7% to approximately RMB49,912,000 for the six months ended 30 June 2020 from approximately RMB81,373,000 for the same period in 2019[20]. - The Group's gross profit decreased by approximately RMB16,830,000 or 58.0% to approximately RMB12,167,000 for the six months ended 30 June 2020 from approximately RMB28,997,000 for the same period in 2019[20]. - The Group's loss before tax for the six months ended 30 June 2020 was approximately RMB5,803,000 compared to a profit of RMB13,870,000 for the same period in 2019[24]. - The Group's loss for the period was approximately RMB6,668,000 compared to a profit of RMB10,210,000 for the same period in 2019[24]. - Gross profit margin decreased to 24.4% for the six months ended 30 June 2020 from 35.6% for the same period in 2019[32]. - Total comprehensive loss for the period was RMB 6,133, compared to a total comprehensive income of RMB 10,151 in the same period last year[124]. Impact of COVID-19 - The COVID-19 pandemic significantly impacted the global polyurethane synthetic leather industry, leading to a decline in downstream demand for leather products[16]. - The company faced challenges due to delayed resumption of work and production, affecting its operations in the first half of the year[16]. - The overall business environment remains challenging due to the ongoing effects of the pandemic on consumer markets and downstream industries[16]. - The Group expects the business environment to face increasing challenges due to the COVID-19 pandemic and global economic recession[20]. Strategic Initiatives - The company continues to focus on research and development of faux leather chemical products, including coating agents and synthetic resins[15]. - The company is exploring strategies for market expansion and product innovation to navigate the current economic landscape[16]. - The Group plans to enhance competitiveness by strengthening relationships with existing customers and expanding its product portfolio and geographical coverage[20]. - The Group aims to prepare for a full recovery of sales in 2021 by expanding the sales of colour chips and enhancing research and development capabilities[20]. Cash Flow and Liquidity - As of June 30, 2020, the Group's cash and bank balance was RMB90,574,000, significantly increased from RMB14,226,000 as at 31 December 2019[40]. - Net cash used in operating activities was approximately RMB11,939,000 for the period, a decline from net cash generated of approximately RMB2,611,000 in the same period of 2019[60][64]. - The Group generated net cash from financing activities of approximately RMB87,678,000, primarily due to net proceeds from a Global Offering of approximately RMB117,789,000[63]. - The gearing ratio indicated a net cash position as of June 30, 2020, due to reduced borrowings and increased cash from listing proceeds[63]. - Cash and cash equivalents at the end of the period were RMB 90,574,000, an increase from RMB 5,192,000 at the end of the previous period[164]. Shareholder Information - As of June 30, 2020, Sunlight Global Investment Limited and Lilian Global Investment Limited held 52.635% and 20.115% of the total issued share capital of the Company, respectively[93]. - Mr. Chen Hua and Ms. Liu Jing each hold a long position of 727,500,000 shares, representing 72.75% of the Company's shareholding[91]. - The combined voting power of Mr. Chen Hua, Ms. Liu Jing, and other key individuals allows them to control 72.75% of the voting rights at general meetings of the Company[93]. - The interests of major shareholders are required to be disclosed under the Securities and Futures Ordinance (SFO)[100]. - The substantial shareholders' interests reflect a concentrated ownership structure, which may impact corporate governance and decision-making[100]. Corporate Governance - The Audit Committee reviewed and approved the interim results and the interim condensed consolidated financial statements for the six months ended June 30, 2020[117]. - The company has established an Audit Committee to enhance communication between directors, external auditors, and management regarding financial reporting and internal controls[111]. - The directors are deemed to control 72.75% of the voting power at general meetings through their interests in Sunlight Global and Lilian Global[105]. - The company has complied with the Corporate Governance Code and maintained the prescribed public float under the Listing Rules throughout the reporting period[79][76]. Financial Position - Current assets increased to RMB 192,768 as of June 30, 2020, from RMB 126,372 at the end of 2019[126]. - Total equity as of June 30, 2020, was RMB 235,136, an increase from RMB 144,306 at the end of 2019[129]. - The company’s total equity attributable to owners was RMB 235,136,000 as of June 30, 2020[157]. - The company underwent a reorganisation to become the holding company of the group on April 18, 2019, with the financial statements prepared as if the reorganisation had been completed at the beginning of the reporting period[169].

Financial Performance - For the year ended December 31, 2019, revenue was approximately RMB 182,681 thousand, representing a year-on-year increase of 9.2% compared to RMB 167,307 thousand in 2018[22] - Gross profit for the same period was approximately RMB 61,995 thousand, reflecting a year-on-year growth of 22.3% from RMB 50,688 thousand in 2018[22] - Profit attributable to owners of the company was approximately RMB 24,124 thousand, a decrease of 21.6% from RMB 30,790 thousand in 2018, primarily due to non-recurring listing expenses[22] - Adjusted net profit for the year was approximately RMB 35,761 thousand[24] - Basic earnings per share for the year were RMB 3.22, down from RMB 4.11 in 2018[22] - The gross margin improved to 33.9% for the year ended December 31, 2019, compared to 30.3% for the previous year[47] - The net profit margin decreased to 13.2% for the year ended December 31, 2019, down from 18.4% in 2018[47] - The return on equity (ROE) was 16.7% for the year ended December 31, 2019, compared to 24.2% in the previous year[47] Revenue and Product Segmentation - The company's revenue increased from approximately RMB 167.3 million for the year ended December 31, 2018, to approximately RMB 182.7 million for the year ended December 31, 2019, representing a growth of about RMB 15.4 million or 9.2%[43] - Revenue from color paste accounted for approximately 49.3% of total revenue in 2018 and approximately 44.7% in 2019, while revenue from color chips increased from approximately 2.1% in 2018 to approximately 9.1% in 2019[53] - Total revenue increased by approximately RMB 15,374 thousand or 9.2% to approximately RMB 182,681 thousand for the year ended December 31, 2019, compared to approximately RMB 167,307 thousand for the year ended December 31, 2018, primarily due to increased revenue from color chip products[52] Operational Plans and Strategies - The company plans to expand the production capacity of its dye products and enhance its R&D capabilities to broaden its product range and geographic coverage[29] - The company aims to improve automation and information management systems in existing production facilities[29] - The company plans to expand the production capacity of its coloring agents, particularly color pastes, to meet the growing demand in the artificial leather manufacturing sector[38] - The company aims to enhance its R&D capabilities and expand its product range, focusing on water-based artificial leather chemicals due to stricter environmental regulations in China[39] - The company intends to automate existing production facilities to improve efficiency and reduce production costs[41] - The company plans to establish a new production facility to increase the production scale and product range of color pastes suitable for ultra-fiber leather[38] COVID-19 Impact - The impact of COVID-19 on the company's financial performance is being closely monitored, with production and sales activities having resumed since February 2020[29] - The company will continue to monitor the impact of COVID-19 on its financial performance and operations[42] Financial Position and Cash Flow - Cash and cash equivalents increased by approximately RMB 4,315 thousand to RMB 14,226 thousand at the end of 2019, compared to RMB 10,162 thousand at the end of 2018[72] - Cash generated from operating activities decreased to approximately RMB 7,185 thousand in 2019 from approximately RMB 24,893 thousand in 2018, primarily due to significant increases in working capital changes[73] - Financial costs increased by approximately RMB 142 thousand or 26.8% to approximately RMB 672 thousand in 2019, primarily due to increased interest expenses[65] - The debt-to-equity ratio as of December 31, 2019, was approximately 4.39%, compared to a net cash position in 2018[76] - Total borrowings increased to RMB 21,727 thousand in 2019 from RMB 10,000 thousand in 2018[87] Corporate Governance and Management - The company has a strong management team with extensive experience in finance and operations, including key executives with over 20 years in the industry[121][122] - The independent non-executive directors bring diverse expertise, enhancing corporate governance and strategic oversight[112][116] - Financial oversight is managed by a qualified CFO with over 17 years of experience in the chemical industry[117] - The company has established a robust framework for compliance and financial management, ensuring transparency and accountability[121] - The management team is committed to driving operational efficiency and improving production management[118][119] - The board emphasizes the importance of strategic planning and execution to navigate market challenges and capitalize on opportunities[125] Shareholder Information - Sunlight Global Investment Limited and Lilian Global Investment Limited hold 52.635% and 20.115% of the issued share capital, respectively[156] - The directors collectively control 72.75% of the voting rights through their interests in Sunlight Global and Lilian Global[162] - Each director holds 727,500,000 shares, representing 72.75% of the company's equity[154] - The company has not established any arrangements allowing directors to benefit from purchasing shares or debt securities[158] Risk Management - The company’s financial risks include interest rate, exchange rate, credit, and liquidity risks, with management policies detailed in the consolidated financial statements[128] - The group faces foreign currency risk primarily from financial instruments denominated in USD, which are not related to the functional currency of the group entities[99] Compliance and Internal Controls - The company has adopted internal control and risk management policies to ensure compliance with applicable laws and regulations, with no significant non-compliance events reported[133] - The independent auditor confirmed that all related party transactions were conducted under normal commercial terms and were fair and reasonable[189] - The company confirmed compliance with the non-competition agreement established by the controlling shareholder, effective from February 10, 2020[182] Stock Option Plan - The stock option plan aims to recognize and reward eligible participants who have contributed or may contribute to the group's interests[167] - The maximum number of shares involved in the stock option plan is capped at 10% of the total issued shares post-global offering, which amounts to 10,000,000 shares[169] - The total number of stock options granted to each eligible participant within any 12-month period cannot exceed 1% of the issued shares as of the grant date[172] - Any stock options granted to connected persons must be approved by independent non-executive directors[174]