Financial Performance - In 2023, the company's revenue was RMB 1,879,443,000, a decrease of 6.9% compared to RMB 2,018,348,000 in 2022[11]. - Gross profit for 2023 was RMB 141,406,000, slightly up from RMB 139,568,000 in 2022, resulting in a gross margin of 7.5%[11][15]. - Profit before tax for the year was RMB 43,793,000, down from RMB 46,958,000 in 2022, indicating a decline of 4.6%[11]. - The profit attributable to owners of the company for 2023 was RMB 30,745,000, compared to RMB 33,173,000 in 2022, reflecting a decrease of 7.5%[11]. - The Group's revenue decreased by 6.9% or RMB138.9 million from RMB2,018.3 million last year to RMB1,879.4 million for the Year[62]. - Revenue from the landscape construction segment decreased by 54.0% or RMB219.6 million, from RMB406.7 million last year to RMB187.1 million for the Year[67]. - Revenue from the municipal works construction segment decreased by 13.3% or RMB106.0 million, from RMB797.3 million last year to RMB691.3 million for the Year[68]. - Revenue from the building works segment increased by 21.6% or RMB167.3 million, from RMB775.1 million last year to RMB942.4 million for the Year[69]. - Revenue from the others segment increased by 49.7% or RMB19.5 million, from RMB39.2 million last year to RMB58.7 million for the Year[70]. - The cost of services rendered decreased by 7.5% or RMB139.6 million from RMB1,871.0 million last year to RMB1,731.4 million for the Year[71]. - The Group's gross profit increased by 1.3% or RMB1.8 million from RMB139.6 million last year to RMB141.4 million for the Year, with a gross profit margin increase from 6.9% to 7.5%[78]. - Other income, gains, and losses decreased by 30.1% or RMB8.1 million from RMB26.9 million last year to RMB18.8 million for the Year[79]. - Administrative expenses increased by 3.3% or RMB2.0 million from RMB59.8 million last year to RMB61.8 million for the Year[80]. - Finance costs increased by 17.2% or RMB4.1 million from RMB23.8 million last year to RMB27.9 million for the Year[81]. - The group's income tax expense slightly decreased by 2.2% or RMB 0.3 million from RMB 13.9 million last year to RMB 13.6 million this year[87]. Assets and Liabilities - Total assets increased to RMB 2,325,983,000 in 2023, up from RMB 2,288,592,000 in 2022, marking a growth of 1.6%[13]. - Total liabilities slightly increased to RMB 1,348,926,000 in 2023 from RMB 1,341,718,000 in 2022, showing a marginal rise of 0.5%[13]. - The company's total equity reached RMB 977,057,000 in 2023, an increase from RMB 946,874,000 in 2022, representing a growth of 3.2%[13]. - The net current assets increased by 1.7% or RMB 16.2 million from RMB 945.3 million as of December 31, 2022, to RMB 961.5 million as of December 31, 2023, primarily due to increased bank and cash balances[92]. - Trade and other receivables decreased by 16.7% or RMB 123.2 million from RMB 739.6 million as of December 31, 2022, to RMB 616.4 million as of December 31, 2023, due to enhanced collection efforts[97]. - Contract assets increased from RMB 1,107.2 million in 2022 to RMB 1,175.4 million in 2023, indicating more high contract value projects in progress[110]. - Trade payables increased by 13.0% or RMB46.7 million from RMB359.9 million as of December 31, 2022, to RMB406.6 million as of December 31, 2023, due to the Group slowing down payments to maintain better liquidity[115]. - Average turnover days of trade payables increased from 67.2 days in 2022 to 80.8 days in 2023, primarily due to the aforementioned slow-down of payments[117]. - Total bank borrowings as of December 31, 2023, were RMB675.7 million, with an average interest rate of 4.38% per annum[126]. - Current ratio remained unchanged at 1.8 as of December 31, 2023, compared to December 31, 2022[140]. - Gearing ratio remained stable at 0.7 as of December 31, 2023, compared to the previous year[141]. - Net debt to equity ratio decreased from 0.5 as of December 31, 2022, to 0.4 as of December 31, 2023, due to an increase in year-end cash and cash equivalents[142]. Market and Industry Trends - In 2023, the total output value of the construction industry in China reached RMB 31.6 trillion, a year-on-year increase of 5.8%[26]. - The incremental value of the construction industry for the full year was RMB 8.6 trillion, representing a year-on-year increase of 7.1%[26]. - The profits of construction enterprises with qualification grades were RMB 832.6 billion, a slight increase of 0.2% year-on-year[29]. - The newly signed contracts of the top eight state-owned construction enterprises totaled RMB 16.7 trillion in 2023, marking a year-on-year increase of 8.0%[29]. - The business activity index of the construction industry for December 2023 was 56.9%, indicating steady growth and expansion[30]. - National investment in water conservancy construction in 2023 amounted to nearly RMB 1.2 trillion, reaching a new high in investment amount and scale[35]. - The construction industry is undergoing digital transformation, optimizing processes and improving efficiency through intelligent construction technologies[34]. Strategic Goals and Future Plans - The company aims to enhance business scale and profitability in 2024, focusing on high-quality and sustainable development[20]. - The chairman highlighted the importance of adapting to the economic recovery trends and government policies to drive future growth[18][19]. - The Group plans to closely follow national strategic planning and industrial policies to continue its development and construction projects in the future[57]. - The Central Government plans to invest RMB 700.0 billion in new investment growth points focused on new infrastructure in 2024, with an emphasis on flood control and disaster relief projects[56]. - The Ningbo region aims to invest RMB 150.0 billion in public infrastructure construction, which will remain a key investment direction for China in the future[56]. Innovation and Development - Chanhigh Construction registered three new invention patents and six utility model patents in the construction category[40]. - The Group introduced three new construction-related invention patents and six utility model patents, focusing on quality engineering and standardized construction sites[42]. - The Group's operational management team has been optimizing structures and enhancing efficiency to achieve relatively good operational results despite challenging market conditions[55]. Human Resources - The Group had a total of 545 employees as of December 31, 2023, with employee benefits expenses amounting to RMB 45.0 million for the year[46]. - Mr. Peng Daosheng, the founder and executive director, has over 20 years of experience in the construction industry[176]. - Mr. Peng Tianbin serves as the executive director and chairman of the company[177]. - Ms. Wang Sufen, a non-executive director, has over 20 years of experience in trade and established Ningbo Yinzhou Tianbin Trading Co., Ltd. in October 1994[178]. - Mr. Fan Rong, an independent non-executive director, has been a member of the Chinese Institute of Certified Public Accountants since 1995[179]. - Mr. Tong Tai Alex, the chief financial officer, has approximately 15 years of experience in an international CPA firm before joining the group in December 2015[189]. - Mr. Jiang Libo, the general manager of Chanhigh Construction, has been with the company since September 2007 and holds multiple leadership roles in various associations[190]. - Mr. Yang Jiannan, head of the quality control department, oversees production quality and construction safety since joining the group in August 2010[195]. - Mr. Wang Yuexi is the vice chairman in charge of the administrative department, joined the Group in February 2019[199]. - Mr. Tong Tai Alex has been the company secretary since June 25, 2016[200].

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 1,879,443 thousand, a decrease of 6.9% from RMB 2,018,348 thousand in 2022[2] - Gross profit for the year was RMB 141,406 thousand, slightly up from RMB 139,568 thousand in the previous year, indicating a gross margin improvement[4] - Net profit attributable to owners of the company decreased to RMB 30,745 thousand from RMB 33,173 thousand, reflecting a decline of 7.3%[4] - The company reported a basic and diluted earnings per share of RMB 5.0, down from RMB 5.4 in 2022, representing a decrease of 7.4%[4] - Total segment profit for the reporting period was RMB 141,406,000, compared to RMB 139,568,000 in the previous year, reflecting an increase of approximately 1.2%[13] - The pre-tax consolidated profit was RMB 43,793,000, down from RMB 46,958,000, representing a decline of about 6.5%[13] - Basic and diluted earnings per share were RMB 30,745,000, down from RMB 33,173,000, indicating a decrease of approximately 7.3%[20] Assets and Liabilities - The total assets as of December 31, 2023, amounted to RMB 2,325,983 thousand, compared to RMB 2,288,592 thousand in 2022, showing an increase of 1.6%[5] - Current assets increased to RMB 2,207,862 thousand from RMB 2,180,976 thousand, reflecting a growth of 1.2%[5] - The company’s non-current assets totaled RMB 118,121 thousand, up from RMB 107,616 thousand, marking an increase of 9.7%[5] - The company’s total equity increased to RMB 977,057 thousand from RMB 946,874 thousand, representing a growth of 3.2%[5] - The group had a current ratio of 1.8 and a debt ratio of 0.7 as of December 31, 2023[54] Revenue Breakdown - The landscaping segment's revenue fell by 54.0% or RMB 219.6 million to RMB 187.1 million, attributed to a decrease in project numbers[42] - The municipal engineering segment's revenue decreased by 13.3% or RMB 106.0 million to RMB 691.3 million, mainly due to a decline in average contract value[43] - The construction segment's revenue increased by 21.6% or RMB 167.3 million to RMB 942.4 million, driven by an increase in project numbers[44] - The other segment's revenue rose by 49.7% or RMB 19.5 million to RMB 58.7 million, due to increases in average contract value and project numbers[45] - The group's revenue decreased by 6.9% from RMB 2,018.3 million last year to RMB 1,879.4 million this year, primarily due to declines in the landscaping and municipal engineering segments[40] Expenses and Costs - The company’s financial costs rose to RMB 27,937 thousand from RMB 23,760 thousand, an increase of 17.8%[4] - Research and development expenses were reduced to RMB 376,000 from RMB 1,447,000, a decrease of approximately 74.0%[13] - Administrative expenses slightly increased by 3.3% or RMB 2.0 million to RMB 61.8 million this year[50] - Financing costs rose by 17.2% or RMB 4.1 million to RMB 27.9 million, primarily due to a decrease in capitalized interest[51] Market and Industry Insights - The construction industry in China achieved a total output value of RMB 31.6 trillion in 2023, growing by 5.8% year-on-year, while the added value of the construction industry reached RMB 8.6 trillion, an increase of 7.1%[28] - The number of construction enterprises increased by 10.5% year-on-year to 158,000, intensifying market competition[29] - The construction business activity index for December 2023 was 56.9%, indicating stable growth and remaining in a high prosperity range[31] - National water conservancy construction investment reached nearly RMB 1.2 trillion in 2023, setting a historical record for investment scale[34] - In 2024, the central budget investment is expected to allocate RMB 700 billion primarily for new infrastructure projects[37] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with its provisions during the year, except for the absence of the chairman at the annual general meeting due to unforeseen circumstances[66] - The company has established a compliance code for securities trading, which all directors confirmed adherence to during the year[68] - An audit committee consisting of three independent non-executive directors has reviewed the group's accounting policies and discussed audit, risk management, and financial reporting matters[72] - The financial information provided does not constitute the audited consolidated financial statements for the year but represents an excerpt of the accounts[73] - The annual report will be sent to shareholders and published on the company's website at an appropriate time[74] Acknowledgments and Future Plans - The company received multiple honors, including recognition as a top service enterprise in Ningbo and several provincial and national awards for quality engineering[35] - The company plans to follow national strategic planning and industry policies to enhance its operational efficiency and market presence[38] - The board expresses gratitude to customers, shareholders, and employees for their support and hard work[76] - The annual general meeting is scheduled for June 13, 2024, with a suspension of share transfer registration from June 6 to June 13, 2024[70][71]

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 1,029,221,000, representing a 22.9% increase compared to RMB 837,241,000 in the same period of 2022[10]. - Profit before tax increased to RMB 18,984,000, a significant rise of 194.0% from RMB 6,458,000 in the previous year[10]. - Profit for the period attributable to owners of the Company was RMB 13,296,000, up 178.7% from RMB 4,770,000 in 2022[10]. - Revenue increased by 22.9% to RMB 1,029.2 million for the six months ended June 30, 2023, compared to RMB 837.2 million for the same period in 2022[47]. - Total comprehensive income for the period was RMB 13,244,000, compared to RMB 4,727,000 in the same period last year, marking an increase of 179%[155]. - Earnings per share attributable to owners of the Company increased to 10 RMB cents, up from 2.1 RMB cents in the previous year[155]. - Profit from operations rose significantly to RMB 31,333,000, representing a 69% increase from RMB 18,549,000 in the previous year[155]. - Gross profit for the period was RMB 57,465,000, a slight decrease of 2.2% compared to RMB 58,759,000 in 2022[155]. - Total profits of reportable segments for the six months ended June 30, 2023, were RMB 57,465,000, a decrease of 2.2% from RMB 58,759,000 in the same period of 2022[187]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 2,322,769,000, reflecting a 1.5% increase from RMB 2,288,592,000 at the end of 2022[12]. - Current liabilities increased to RMB 1,257,649,000, compared to RMB 1,235,716,000 at the end of 2022[159]. - Non-current liabilities remained stable at RMB 105,002,000, slightly down from RMB 106,002,000 at the end of 2022[159]. - Receivables included in "Trade and other receivables" decreased to RMB 274,173,000 as of June 30, 2023, from RMB 297,416,000 as of December 31, 2022, a decline of 7.8%[193]. - Contract assets increased to RMB 1,117,401,000 as of June 30, 2023, from RMB 1,107,154,000 as of December 31, 2022, showing a growth of 0.2%[193]. - Contract liabilities decreased to RMB 82,949,000 as of June 30, 2023, from RMB 100,731,000 as of December 31, 2022, a reduction of 17.7%[193]. Cash Flow - For the six months ended June 30, 2023, net cash used in operating activities was RMB (38,612,000), an improvement from RMB (57,767,000) in the same period of 2022, representing a decrease of approximately 33%[164]. - The company generated net cash from investing activities of RMB 28,030,000 for the six months ended June 30, 2023, compared to a cash outflow of RMB (19,874,000) in the prior year[164]. - Total cash at banks and on hand at the end of the period was RMB 275,223,000, an increase from RMB 243,884,000 at the end of June 2022, reflecting a growth of approximately 13%[164]. Revenue Segmentation - The sources of business revenue were landscaping construction (10.1%), municipal works construction (38.5%), building works (49.0%), and others (2.4%) for the six months ended June 30, 2023[34]. - Revenue from municipal works construction segment rose by 44.1% to RMB 396.6 million, up from RMB 275.3 million in the previous year[55]. - Revenue from building works segment increased by 38.3% to RMB 504.4 million, compared to RMB 364.7 million for the same period last year[56]. - Revenue from landscape construction segment decreased by 42.6% to RMB 103.5 million, down from RMB 180.2 million in the previous year[54]. - Revenue from agency services included in the "Others" segment was RMB 3,543,000 for the six months ended June 30, 2023, up from RMB 1,276,000 in the same period of 2022, reflecting an increase of approximately 177%[182]. Industry Insights - The construction industry in China saw a total output value of RMB 13.2 trillion in the first half of 2023, a year-on-year increase of 5.9%[16]. - Investment in infrastructure increased by 7.2% year-on-year, providing crucial support for the construction industry's growth[16]. - The investment in the railway transportation sector rose by 20.5%, indicating strong growth in this area[17]. - The business activity index of the construction industry remained at a high level, with a civil engineering construction index of 63.9% and a new order index of 56% in April 2023, indicating continued expansion[20]. - The State's infrastructure investment is expected to reach RMB 3.8 trillion in 2023, supported by policy-based financial instruments[36]. - The digital transformation of the construction industry is expected to enhance competitive advantages in project development through integration with new-generation information technology[30]. - The business activity expectations index for the construction industry remains optimistic, indicating strong confidence in market recovery[21]. Corporate Governance and Compliance - The Group has complied with corporate governance standards, except for the absence of the Board chairman at the annual general meeting[107]. - The Group's policy includes regular monitoring of current and expected liquidity needs to ensure sufficient cash reserves[95]. - The Group faces limited credit risk due to sales policies ensuring transactions with customers having appropriate credit records[93]. - The Group's unaudited condensed consolidated financial statements for the six months ended June 30, 2023, have been reviewed by the Auditor and the Audit Committee, with no disagreements on accounting policies[140]. - The independent review concluded that there are no significant matters that would indicate the interim financial information is not prepared in accordance with IAS 34[151]. Employee and Operational Insights - The Group's employee benefits expense for the six months ended June 30, 2023, was RMB 22.3 million[112]. - The Group has 555 full-time employees as of June 30, 2023[112]. - The Group aims to adjust its operational model to lower costs and increase cash flow in response to ongoing economic pressures[42]. - The Group plans to leverage supply chain management resilience and seek new growth points to navigate current challenges[45]. Future Outlook - The "14th Five-Year Plan" outlines significant potential for the construction industry through integration with advanced manufacturing and information technology[23]. - Planned investment in water conservancy during the "14th Five-year Plan" period is RMB 5.2 trillion, representing a 57% increase from the previous plan[41]. - The construction of water conservancy infrastructure is emphasized as a long-term strategic initiative, contributing to high-quality development in the sector[27].

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。 CHANHIGH HOLDINGS LIMITED 滄 海 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：2017） 截至二零二三年六月三十日止六個月 未經審核中期業績公告 財務摘要 截至六月三十日止六個月 二零二三年 二零二二年 人民幣千元 人民幣千元 （未經審核） （未經審核） 收入 1,029,221 837,241 毛利 57,465 58,759 期內溢利 13,244 4,727 ...

Financial Performance - In 2022, the company's revenue reached RMB 2,018,348,000, representing a year-on-year increase of 14.1% from RMB 1,768,762,000 in 2021[12]. - The gross profit for 2022 was RMB 139,568,000, with a gross margin of 6.9%, down from 8.8% in 2021[12][16]. - Profit before tax increased to RMB 46,958,000, a growth of 19.2% compared to RMB 39,394,000 in 2021[12]. - The profit for the year attributable to owners of the company was RMB 33,173,000, up from RMB 31,410,000 in 2021, marking a growth of 5.6%[12]. - The Group's annual revenue for the year was approximately RMB 2,018.3 million, representing an increase of approximately 14.1% compared to 2021[50]. - The Group's revenue increased by 14.1% or RMB249.5 million from RMB1,768.8 million last year to RMB2,018.3 million for the Year[73]. - The municipal works construction segment's revenue increased by 39.8% or RMB227.1 million, despite a 36.2% decrease in the number of projects[78]. - The building works segment's revenue rose by 47.5% or RMB249.5 million, with a 22.0% decrease in the number of projects[78]. - Revenue from the municipal works construction segment rose by 39.8% to RMB 797.3 million, an increase of RMB 227.1 million compared to the previous year[83]. - Revenue from the building works segment increased by 47.5% to RMB 775.1 million, an increase of RMB 249.5 million compared to the previous year[84]. - Revenue from the landscape construction segment decreased by 33.4% to RMB 406.7 million, a decrease of RMB 204.4 million compared to the previous year[82]. Assets and Liabilities - Total assets as of December 31, 2022, were RMB 2,288,592,000, slightly down from RMB 2,290,208,000 in 2021[14]. - Total liabilities decreased to RMB 1,341,718,000 from RMB 1,376,433,000 in 2021, indicating improved financial stability[14]. - The Group's net current assets increased by 9.3% to RMB 945.3 million, primarily due to business growth and improved cash collection efforts[106]. - Trade and other receivables decreased by 8.1% or RMB 65.4 million from RMB 805.0 million as of December 31, 2021, to RMB 739.6 million as of December 31, 2022, primarily due to increased efforts in receivables collection[111]. - Trade payables increased by 9.3% or RMB 30.7 million from RMB 329.2 million as of December 31, 2021, to RMB 359.9 million as of December 31, 2022, due to business growth[126]. - The total trade and bills receivables as of December 31, 2022, amounted to RMB 252.8 million, down from RMB 449.7 million in 2021[113]. - The allowance for bad and doubtful debts for trade receivables increased from RMB 42.8 million in 2021 to RMB 79.3 million in 2022[110]. - As of December 31, 2022, the Group's bank borrowings amounted to RMB 666,002,000, a decrease from RMB 688,796,000 in 2021[134]. Operational Insights - The company emphasized the importance of technological innovations in construction, aiming for sustainable development and transformation in the industry[21]. - The company is focused on optimizing its corporate structure and strengthening internal management to achieve sustainable growth[21]. - The digital transformation of the construction industry is expected to stimulate new markets and improve construction efficiency through intelligent construction technologies[40]. - The "14th Five-Year Plan" emphasizes the integration of advanced manufacturing and information technology, indicating significant potential for development in the construction sector[41]. - The Group's business model focuses on high-quality project creation and standardized work sites, emphasizing project quality management and technological innovations[53]. - The construction of water conservancy infrastructure is a key focus, aligning with national objectives to stimulate new markets[45]. - The Group plans to focus on traditional infrastructure construction and water conservancy as new growth points, leveraging scientific and technological innovation[72]. Market and Industry Trends - The construction industry is expected to play a greater role in the national economy in 2023, driven by government policies and economic recovery efforts[20]. - The total output value of the construction industry in China reached RMB 31.2 trillion in 2022, representing a year-on-year increase of 6.5%[29]. - The incremental value of the construction industry for the full year amounted to RMB 8.3383 trillion, reflecting a year-on-year increase of 5.5%[29]. - Profits of construction enterprises with qualification grades were RMB 836.9 billion, a decrease of 1.2% compared to the previous year, while state-owned enterprises saw profits of RMB 392.2 billion, an increase of 8.4%[32]. - The number of standalone construction enterprises increased to 144,000, representing a year-on-year growth of 11.6%[34]. - The business activity index of the construction industry in December was 54.4%, indicating steady growth, with the civil engineering construction index at 57.1%[37]. - The construction industry employed 51.84 million people, a year-on-year decrease of 1.9%[33]. - Total investment in real estate for the year decreased by 10%[33]. Risk Management and Governance - The Group's risk management framework evaluates material risks including investment, interest rate, and liquidity risks to ensure effective operational management[55]. - The Group's credit risk primarily arises from trade and other receivables, as well as cash and bank balances[168]. - The Group has implemented policies to ensure sales are made to customers with appropriate credit records, minimizing credit risk concentration[168]. - The Group regularly monitors current and expected liquidity requirements to maintain sufficient cash reserves for short and long-term needs[172]. - The Group has no significant credit risk concentration and has established a team to determine credit limits and approvals[168]. - The management team is responsible for overall management, corporate policy making, and strategic planning of the Group's operations[177]. Leadership and Experience - The Group's executive directors have extensive experience in the landscape and public work construction industry, with over 20 years of experience each[186]. - Ms. Wang Sufen, a non-executive director, has over 20 years of experience in the trading business, enhancing the Group's strategic decision-making[188]. - Mr. Fan Rong has been an independent non-executive Director since March 15, 2017, and is a member of the Chinese Institute of Certified Public Accountants since 1995[193]. - Mr. Shi Weixing, appointed as an independent non-executive Director on March 15, 2017, holds a doctorate degree in engineering from Tongji University[195]. - Mr. Yang Zhongkai has served as an independent non-executive Director since March 15, 2017, and is currently the Chairman of partners conference at King & Ray Law Firm[196].

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。 CHANHIGH HOLDINGS LIMITED 滄 海 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：2017） 截至二零二二年十二月三十一日止年度 全年業績公告及建議修訂公司組織章程大綱及細則 財務摘要 二零二二年 二零二一年 人民幣千元 人民幣千元 收入 2,018,348 1,768,762 毛利 139,568 154,998 年內溢利及全面收益總額 33,099 31,300 以下人士應佔年內溢利╱（虧損）及全面收益總額： 本公司擁有人 33,173 31,410 非控股權益 (74) (110) ...

Financial Performance - Total revenue for the six months ended June 30, 2022, was RMB 837,241,000, a decrease of 4.8% from RMB 879,780,000 in 2021[12]. - Gross profit for the same period was RMB 58,759,000, down 25.7% from RMB 79,043,000 in 2021[12]. - Profit before tax decreased by 58.0% to RMB 6,458,000 compared to RMB 15,366,000 in the previous year[12]. - Profit attributable to owners of the Company for the period was RMB 4,727,000, a decline of 60.9% from RMB 12,100,000 in 2021[12]. - Earnings per share decreased to 0.8 RMB cents from 2.0 RMB cents, representing a 60% drop[163]. - Total comprehensive income for the six months ended 30 June 2022 was RMB 12,178,000, a decrease from RMB 12,100,000 in the same period of 2021[174]. Assets and Liabilities - Total assets as of June 30, 2022, were RMB 2,259,551,000, a slight decrease of 1.3% from RMB 2,290,208,000 at the end of 2021[11]. - Total liabilities decreased by 2.6% to RMB 1,341,049,000 from RMB 1,376,433,000 in the previous year[11]. - Current liabilities increased to RMB 1,229,047,000 from RMB 1,270,999,000, indicating a slight improvement in liquidity[168]. - Contract liabilities decreased to RMB 63,290,000 as of June 30, 2022, from RMB 84,833,000 as of December 31, 2021, indicating a reduction of approximately 25.5%[200]. Cash Flow - Cash and cash equivalents were RMB 243,884,000, down 21.3% from RMB 309,791,000 as of December 31, 2021[11]. - Net cash used in operating activities for the six months ended June 30, 2022 was RMB (42,515,000), an improvement from RMB (100,127,000) in 2021[176]. - The company reported a net decrease in cash and cash equivalents of RMB (65,907,000) for the six months ended 30 June 2022, compared to RMB (50,040,000) in the previous year[176]. Revenue Segmentation - The Group's revenue sources included landscaping construction (21.5%), municipal works construction (32.9%), and building works (43.6%) for the six months ended June 30, 2022[29]. - Revenue from the landscape construction segment decreased by 44.6% or RMB 145.3 million, from RMB 325.5 million in the first half of 2021 to RMB 180.2 million in the first half of 2022[50]. - Revenue from the municipal works construction segment decreased by 2.2% or RMB 6.3 million, from RMB 281.6 million in the first half of 2021 to RMB 275.3 million in the first half of 2022[54]. - Revenue from the building works segment increased by 41.7% or RMB 107.4 million, from RMB 257.3 million in the first half of 2021 to RMB 364.7 million in the first half of 2022[44]. Industry Insights - The construction industry is facing new development opportunities due to digital transformation and government policy adjustments, despite challenges from tightened regulatory policies[16]. - The total output value of the construction industry in China in 2022 reached RMB 12.9 trillion, with a year-on-year increase of 7.6%[19]. - Investment in infrastructure during the first half of 2022 increased by 7.1% year-on-year, supported by the accelerated issuance of special bonds[19]. - The investment in the information and communications sector increased by 20.6%, while water resources management investment rose by 12.7%[18]. Operational Metrics - The business activity index of the construction industry remained high, with a civil engineering construction index of 61.0% in April 2022, indicating continued expansion[22]. - The number of completed projects in the landscape construction segment decreased from 29 in the first half of 2021 to 13 in the first half of 2022[48]. - The cost of services rendered decreased by 2.7% or RMB 21.8 million to RMB 775.2 million for the six months ended June 30, 2022, aligning with revenue fluctuations[60][61]. Corporate Governance - The Company has established an Audit Committee to oversee financial reporting and internal control procedures in compliance with the Listing Rules[146]. - The Board expresses gratitude to customers and shareholders for their ongoing support and to employees for their contributions[152]. - The Company has not adopted any share option scheme[117]. Shareholder Information - Mr. Peng YH holds 451,170,000 shares, representing approximately 72.95% of the Company[124]. - Vast Base holds a beneficial interest of 226,170,000 shares, representing approximately 36.57% of the total shareholding[138]. - TEUR has a beneficial interest of 225,000,000 shares, accounting for about 36.38% of the total shareholding[138].

Financial Performance - In 2021, Chanhigh Holdings Limited reported a revenue of RMB 1,768,762 thousand, representing a year-on-year increase of 10.9% from RMB 1,594,568 thousand in 2020[12]. - The gross profit for 2021 was RMB 154,998 thousand, with a gross margin of 8.8%, slightly up from 8.6% in 2020[12][14]. - The net profit attributable to owners of the company for 2021 was RMB 31,410 thousand, an increase of 36.5% compared to RMB 23,030 thousand in 2020[12]. - The company's annual revenue for the year was approximately RMB 1,768.8 million, representing a growth of about 10.9% compared to the same period in 2020[23]. - Gross profit increased by 12.9% to RMB 155.0 million, with the gross margin rising from 8.6% to 8.8%[47]. - The net current assets increased by 2.4% to RMB 864.5 million, reflecting the growth in performance[53]. - Return on equity rose from 2.6% to 3.4%, attributed to an increase in profits[77]. - Return on total assets increased from 1.0% to 1.4%, also due to higher profits[78]. Assets and Liabilities - Total assets increased to RMB 2,290,208 thousand in 2021, up from RMB 2,221,143 thousand in 2020, indicating a growth of 3.1%[13]. - The total liabilities of the company rose to RMB 1,376,433 thousand in 2021, compared to RMB 1,338,668 thousand in 2020, reflecting a 2.8% increase[13]. - Trade and other receivables decreased by 0.6% from RMB 810.1 million to RMB 805.0 million, primarily due to increased efforts in collection[55]. - Contract assets increased slightly from RMB 954.6 million to RMB 976.8 million, while contract liabilities rose from RMB 69.96 million to RMB 84.83 million[59]. - Trade payables increased by 1.5% from RMB 324.3 million to RMB 329.2 million, indicating a slight rise in obligations[61]. Revenue Sources - Revenue sources include landscaping construction (34.6%), municipal engineering (32.2%), construction engineering (29.7%), and others (3.5%)[23]. - The landscaping construction segment's revenue surged by 72.2% to RMB 611.1 million, driven by an increase in project numbers and average contract value[41]. - The municipal engineering construction segment's revenue rose by 3.1% to RMB 570.2 million, attributed to an increase in project numbers[42]. - The construction engineering segment's revenue decreased by 16.5% to RMB 525.6 million, mainly due to the completion of several projects in previous years[43]. Operational Strategy - The company aims to seek opportunities for collaboration with suitable state-owned enterprises in 2022 to participate in government infrastructure projects[16]. - The company plans to enhance its operational performance and increase corporate value to benefit society and shareholders[16]. - The company is focusing on optimizing its internal structure and strengthening internal controls to ensure steady growth[16]. - The company plans to actively expand its national business while focusing on traditional infrastructure and new infrastructure development[34]. Employee and Welfare - The company has a total of 620 employees, with employee welfare expenses amounting to RMB 47.5 million for the year[27]. - The company has established a provincial-level postdoctoral workstation approved by the Zhejiang Provincial Postdoctoral Office[24]. Corporate Governance - The company has adopted a corporate governance code and has complied with its provisions throughout the year, except for the absence of the chairman at the annual general meeting due to unforeseen circumstances[181]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring compliance with listing rules regarding board composition[185]. - The independent non-executive directors have confirmed their independence, contributing to the board's effective operation[188]. - The company has established four board committees: audit committee, remuneration committee, nomination committee, and strategy committee to oversee specific matters[183]. - The company promotes a culture of open debate to facilitate contributions from independent non-executive directors[195]. Risks and Compliance - The group faces various financial risks, including credit risk, liquidity risk, and interest rate risk, with a low exposure to exchange rate risk due to operations primarily in China[90]. - The group's credit risk is mainly from trade and other receivables, with policies in place to minimize this risk through credit limits and regular reviews of receivables[91]. - The group must comply with relevant laws and regulations, and any changes could lead to additional compliance costs or operational adjustments[161]. - The group has confirmed compliance with non-competition agreements by major shareholders[156]. Awards and Recognition - The company has received various awards, including national quality engineering awards and provincial-level honors for quality management[24]. Future Investments - The group has no plans for significant future investments or capital assets beyond what is disclosed in the "Use of Net Proceeds" section of the board report[88].

Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 879,780,000, representing a 27.7% increase from RMB 688,981,000 in 2020[14] - Gross profit for the same period was RMB 79,043,000, a 30.0% increase from RMB 60,809,000 in 2020[14] - Profit for the period attributable to owners of the Company was RMB 12,178,000, up 104.6% from RMB 5,953,000 in 2020[14] - The net profit margin increased to 1.4% in 2021 compared to 0.8% in 2020[16] - Profit before tax was RMB 15,366,000, an increase from RMB 13,788,000, showing a growth of 11.5%[187] - Total comprehensive income for the six months ended June 30, 2021, was RMB 12,178, compared to RMB 5,953 for the same period in 2020[197] Revenue Breakdown - The sources of business revenue were mainly from landscaping construction (37.0%), municipal works construction (32.0%), building works (29.2%), and others (1.8%) for the six months ended June 30, 2021[37] - Revenue from the landscape construction segment rose by 121.6% or RMB178.6 million, from RMB146.9 million to RMB325.5 million for the same period[55] - Revenue from the municipal works construction segment increased by 27.3% or RMB60.4 million, from RMB221.2 million to RMB281.6 million[58] - Revenue from building works decreased by 12.2% or RMB35.8 million, from RMB293.1 million to RMB257.3 million[60] - Revenue from other segments fell by 44.6% or RMB12.4 million, from RMB27.8 million to RMB15.4 million[60] Assets and Liabilities - Total assets as of June 30, 2021, were RMB 2,194,169,000, a slight decrease of 1.2% from RMB 2,221,143,000 as of December 31, 2020[14] - Total liabilities decreased by 2.9% to RMB 1,299,594,000 as of June 30, 2021, from RMB 1,338,668,000 as of December 31, 2020[14] - Cash and cash equivalents decreased by 17.8% to RMB 231,443,000 from RMB 281,483,000[14] - Current liabilities decreased to RMB 1,180,496, down 3.47% from RMB 1,223,144 as of December 31, 2020[192] - Total debts as at 30 June 2021 amounted to RMB724.17 million, an increase from RMB679.93 million as at 31 December 2020[81] Expenses and Costs - Cost of services rendered increased by 27.6% or RMB172.2 million, from RMB624.8 million to RMB797.0 million[60] - Administrative expenses rose by 7.2% or RMB2.2 million, from RMB30.5 million to RMB32.7 million[66] - The Group's finance costs increased by 25.4% or RMB3.4 million from RMB13.4 million for the six months ended 30 June 2020 to RMB16.8 million for the six months ended 30 June 2021[67] - The Group's income tax expense decreased by 59.8% or RMB4.9 million from RMB8.2 million for the six months ended 30 June 2020 to RMB3.3 million for the six months ended 30 June 2021, mainly due to a decrease in the income tax rate from 25% to 15%[68] Strategic Initiatives - The Group aims to leverage its Class One qualifications in municipal works and construction to gain competitive advantages in project development[30] - The Group aims to continue focusing on traditional infrastructure construction and exploring joint development modes with state-owned enterprises[48] - The Group plans to leverage technological innovations to enhance the construction of infrastructure and achieve its targets for 2021 and beyond[48] - The government plans to issue special bonds amounting to RMB 3.65 trillion to support ongoing projects and reasonable expansions, with an additional internal investment arrangement of RMB 610 billion[29] Industry Context - The construction industry in China saw an output value of RMB 11.98 trillion in the first half of 2021, an increase of 18.85% year-on-year[20] - The incremental value completed in the construction industry was RMB 3.33 trillion, representing an 8.6% year-on-year increase[20] - The construction industry business activity index remained at a high level within the optimism range during March, May, and June 2021, indicating a trend of faster growth in the market[24] - There is a trend of collaboration between private enterprises and State-owned enterprises in the construction industry, indicating a shift towards joint development[43] Corporate Governance and Compliance - The Company has complied with corporate governance standards, except for the absence of the chairman at the annual general meeting due to unexpected engagements[127] - The independent auditor's review concluded that the interim financial information is prepared in accordance with IAS 34, ensuring compliance with international standards[184] Shareholding Structure - Mr. Peng YH holds 451,170,000 shares, representing approximately 72.95% of the company's shareholding[141] - Mr. Peng TB and Mr. Peng DS each have interests in 452,994,000 shares, accounting for about 73.24% of the shareholding[141] - Vast Base has a beneficial interest in 226,170,000 shares, which is approximately 36.57% of the total[156] - TEUR holds a beneficial interest in 225,000,000 shares, representing about 36.38% of the total[156] - Zhejiang Yongchuang Industrial Co., Ltd. has a beneficial interest in 35,944,000 shares, equating to 5.81% of the issued share capital[156]

ic CHANHIGH 滄海控股有限公司 Chanhigh Holdings Limited (於開曼群島註冊成立的有限公司) 股份代號：2017 PDC . . O lo ● ● 202 年 度 報 告 Chanhigh Holdings Limited 1 | --- | --- | --- | --- | |-------|-------|-------|--------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 目 | 錄 | | | | | | | | | 2 | | 公司資料 | | | 4 | | 財務摘要 | | | | | | | | 5 | | 主席報告 | | | 6 | | 管理層討論及分析 | | | 21 | | 董事及高級管理層 | | | 24 | | 董事會報告 | | | 34 | | 企業管治報告 | | | 44 | | 環境、社會及管治報告 | | | 64 | | 獨立核數師報告 | | | 70 | | 綜合損益及其他全面收益表 | | | ...