Jolimark Holdings Limited (Incorporated in the Cayman Islands with limited liability) Annual Report 2022 Stock Code : 2028 Jolimark Holdings Limited 映美控股有限公司 (於開曼群島註冊成立之有限公司) 股份代號 : 2028 年報 2022 獨立非執行董事 映美控股有限公司 目錄 | 公司資料 | 2 | | --- | --- | | 主席報告書 | 3 | | 管理層討論與分析 | 5 | | 董事會報告 | 11 | | 董事及高級管理人員履歷詳情 | 23 | | 企業管治報告 | 26 | | 環境、社會及管治報告 | 39 | | 獨立核數師報告 | 55 | | 綜合資產負債表 | 60 | | 綜合收益表 | 62 | | 綜合全面收益表 | 63 | | 綜合權益變動表 | 64 | | 綜合現金流量表 | 65 | | 綜合財務報表附註 | 66 | | 五年財務概要 | 125 | 1 映美控股有限公司 年報 2022 公司資料 董事 執行董 ...

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。 JOLIMARK HOLDINGS LIMITED 映 美 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：2028） 二 零 二 二 年 全 年 業 績 公 告 綜合收益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 人民幣千元 人民幣千元 收入 5 279,191 344,606 出售貨品成本 7 (214,092) (248,998) 毛利 65,099 95,608 其他收入 4,580 3,425 銷售及推廣開支 7 (32,891) (39,275) ...

目錄 2 公司資料 3 管理層討論與分析 8 簡明綜合中期資產負債表 10 簡明綜合中期收益表 11 簡明綜合中期全面收益表 12 簡明綜合中期權益變動表 13 簡明綜合中期現金流量表 14 簡明綜合中期財務資料附註 30 其他資料 公司資料 董事 執行董事 歐栢賢先生 （主席） 歐國倫先生 （行政總裁） 非執行董事 歐國良先生 獨立非執行董事 簡麗娟女士 鍾曉林博士 楊國強先生 註冊辦事處 Windward 3 Regatta Office Park PO Box 1350 Grand Cayman KY1-1108 Cayman Islands 香港主要營業地點 香港 北角 渣華道191 號 嘉華國際中心 21 樓07 室 公司秘書 賴世和先生 授權代表 歐國倫先生 賴世和先生 審核委員會 簡麗娟女士 （主席） 鍾曉林博士 楊國強先生 薪酬委員會 楊國強先生 （主席） 鍾曉林博士 簡麗娟女士 歐國倫先生 提名委員會 簡麗娟女士 （主席） 鍾曉林博士 楊國強先生 核數師 本公司香港法律顧問 盛德律師事務所 香港 中環 金融街 8 號 國際金融中心二期39 樓 香港股份過戶登記分處 香港中央證券登記有限公司 ...

Jolimark Holdings Limited 映美控股有限公司 (於開曼群島註冊成立之有限公司) 股份代號：2028 年報 2021 Annual Report 2021 Jolimark Holdings Limited (Incorporated in the Cayman Islands with limited liability) Stock Code : 2028 映美控股有限公司 | 目錄 | | --- | | 公司資料 | 2 | | --- | --- | | 主席報告書 | 3 | | 管理層討論與分析 | 5 | | 董事會報告 | 10 | | 董事及高級管理人員履歷詳情 | 22 | | 企業管治報告 | 25 | | 環境、社會及管治報告 | 33 | | 獨立核數師報告 | 46 | | 綜合資產負債表 | 52 | | 綜合收益表 | 54 | | 綜合全面收益表 | 55 | | 綜合權益變動表 | 56 | | 綜合現金流量表 | 57 | | 綜合財務報表附註 | 58 | | 五年財務概要 | 117 | 1 映美控股有限公司 年報 2021 公司資料 董事 執 ...

Revenue Performance - The printer business revenue for the six months ended June 30, 2021, was approximately RMB 138,316,000, accounting for about 97% of the total revenue and representing a 43% increase compared to the same period in 2020[8]. - Revenue from other products was approximately RMB 3,687,000, accounting for about 3% of total revenue, which is a 33% decrease compared to the same period in 2020, primarily due to reduced demand for medical masks[9]. - The company's revenue for the six months ended June 30, 2021, was approximately RMB 142,003,000, an increase of about 39% compared to the same period last year[21]. - Total revenue for the six months ended June 30, 2021, was RMB 142,003,000, an increase of 39.1% compared to RMB 102,059,000 for the same period in 2020[66]. - Revenue from printer products accounted for over 90% of total revenue, with printer sales reaching RMB 138,316,000, up from RMB 96,529,000 in the previous year[66][68]. Profitability and Losses - The overall gross profit margin increased from approximately 29% in the same period last year to 31%[21]. - The loss attributable to shareholders decreased to approximately RMB 10,703,000, compared to a loss of approximately RMB 21,177,000 in the same period last year[21]. - Gross profit for the same period was RMB 43,320,000, up from RMB 30,033,000, indicating a significant improvement in profitability[40]. - The company reported a net loss of RMB 10,754,000 for the six months ended June 30, 2021, compared to a net loss of RMB 21,530,000 in the prior year, reflecting a reduction in losses[42]. - The company's loss attributable to shareholders for the six months ended June 30, 2021, was RMB 10,703,000, an improvement from RMB 21,177,000 for the same period in 2020[92]. - Basic loss per share decreased to RMB 0.017 for the six months ended June 30, 2021, compared to RMB 0.035 for the same period in 2020[92]. Business Development and Strategy - The company anticipates significant improvement in business performance in 2021 due to reduced pandemic impact and market recovery, with growth expected in cloud printing and self-service terminal businesses[10]. - The company has launched various printers tailored for specific industries, including the LQ-350K/K+ and BP-900KII/KII+ models, to meet diverse market needs[11]. - The electronic invoice cloud printing technology has become a standard tutorial data for WeChat and Alipay, indicating strong market positioning and potential for growth in the electronic invoice printer market[13]. - The company continues to develop SAAS cloud printers, with over 1,500 software partners registered on its open platform, leading to rapid sales growth in this segment[14]. - The company plans to expand its cloud printing self-service terminal products, which have been widely applied in various sectors, including smart government and healthcare[18]. Financial Position - As of June 30, 2021, total assets were approximately RMB 431,738,000, an increase from RMB 398,426,000 as of December 31, 2020[23]. - The company’s total equity decreased to RMB 205,156,000 as of June 30, 2021, from RMB 216,113,000 as of December 31, 2020, primarily due to accumulated losses[37]. - Current liabilities rose to RMB 219,521,000 as of June 30, 2021, compared to RMB 180,823,000 at the end of the previous year, indicating increased short-term obligations[37]. - The company reported a net receivable from trade accounts of RMB 17,771,000 as of June 30, 2021, down from RMB 19,105,000 at the end of 2020[75]. - The balance of investments accounted for using the equity method was RMB 7,743,000 as of June 30, 2021, compared to RMB 7,849,000 in the previous year[70]. Cash Flow and Expenditures - Capital expenditures for the six months ended June 30, 2021, were approximately RMB 7,811,000, primarily for production equipment and intangible assets[22]. - The company borrowed RMB 116,083 thousand during the period, compared to RMB 114,988 thousand in the previous year, reflecting stable financing activities[48]. - The company paid RMB 85,004 thousand in loan repayments, which is a decrease from RMB 91,819 thousand in the same period last year[48]. - The cash flow from operating activities showed a significant reduction in cash outflow, improving by approximately 80% year-over-year[48]. - The company made capital expenditures totaling RMB 13,798,000 during the six months ended June 30, 2021[69]. Employee and Operational Metrics - The company employed 862 employees as of June 30, 2021, compared to 858 employees as of December 31, 2020, with total employee costs amounting to RMB 40,619,000, an increase from RMB 38,246,000 in the same period last year[30]. - Research and development expenses for the six months ended June 30, 2021, were RMB 15,371,000, down from RMB 20,069,000 in the same period last year, indicating a focus on cost management[40]. Risk Management - The company faces foreign currency exchange risks due to transactions in currencies such as USD, TWD, EUR, and HKD, but manages this exposure through regular reviews[26]. - The company continues to face various financial risks, including market risk, credit risk, and liquidity risk, which are consistent with the previous fiscal year[60]. - The company did not report any significant changes in risk management policies during the period[61]. Shareholder Information - The major shareholder, Mr. Au Pak Yin, holds 445,027,533 shares, representing 72.61% of the company's equity[106]. - Kent C. McCarthy owns 31,200,000 shares, which accounts for approximately 5.09% of the company's equity[108]. - The company has a total of 2,400,000 unexercised stock options as of June 30, 2021, which represents 0.39% of the total issued shares[111]. - The company’s total issued share capital is primarily held by related parties, indicating a concentrated ownership structure[106]. Corporate Governance - The company has adhered to the corporate governance code as of June 30, 2021, with the exception of the attendance of the chairman at the annual general meeting due to COVID-19 restrictions[115]. - The board of directors confirmed full compliance with the standard code regarding securities transactions for the six months ending June 30, 2021[116]. - The interim financial information for the six months ending June 30, 2021, has been reviewed by the audit committee and independent auditor[117].

Financial Performance - The company recorded revenue of approximately RMB 275,967,000 in 2020, a decrease of about 7% compared to 2019, with a net loss attributable to shareholders of approximately RMB 25,113,000[6]. - Revenue from the printer business was approximately RMB 265,128,000, accounting for about 96% of total revenue, which represents a decrease of approximately 9% from 2019[12]. - Revenue from other product lines was approximately RMB 10,839,000, accounting for about 4% of total revenue, showing an increase of approximately 91% primarily due to increased sales of masks and household products[13]. - The company's revenue for the year ended December 31, 2020, was approximately RMB 275,967,000, a decrease of about 7% compared to the previous year[25]. - The net loss attributable to shareholders was approximately RMB 25,113,000, an improvement from a loss of RMB 36,057,000 in the previous year[25]. - The gross profit margin slightly increased by 2% to reach 31% in 2020[6]. - The gross profit margin increased slightly from approximately 29% in 2019 to about 31% in 2020, despite a decrease in total revenue[26]. Business Strategy and Development - The company plans to promote electronic invoicing and expects significant growth in the electronic invoice printer market in the future[6]. - The company is focusing on developing cloud printing applications and has positioned itself as a cloud printing service provider, with plans to launch multiple SaaS cloud application products in 2021[7]. - The company aims to establish a new retail platform with O2O functionality, including a QR code ordering and payment system[7]. - The company has launched or is about to launch several inkjet printing products targeting various sectors, including healthcare and government, to offset the anticipated decline in dot matrix printer demand[15]. - The electronic invoice cloud printing technology has become a standard tutorial material on platforms like WeChat and Alipay, indicating strong market positioning and growth potential[17]. - The company plans to introduce a medical-grade silent nebulizer in the first half of 2021, which is expected to be effective for treating COVID-19 patients[24]. - The company has registered over 1,000 software partners on its cloud printing open platform, indicating rapid growth in its SAAS cloud printer sales[18]. - The introduction of self-service printing terminals in various sectors, including healthcare and retail, is expected to become a core business area for the company[21]. - The company aims to leverage new retail platforms and O2O functionalities to enhance its market presence and customer engagement[21]. - The company plans to develop inkjet printing technology and cloud printing solutions to adapt to the increasing use of electronic invoices in China[55]. Corporate Governance and Management - The company’s board of directors includes a mix of executive and independent non-executive members, ensuring governance and oversight[84]. - The company has established a formal list of matters reserved for the board and delegated authority to management for specific matters[129]. - The board has delegated daily operational responsibilities to the management team, ensuring effective governance[130]. - The company appointed Mr. Ou Bai Xian as chairman and Mr. Ou Guo Lun as CEO, responsible for overall operations and business development[131]. - The company emphasizes a diversity policy for board members, considering various factors such as skills, industry experience, and gender[138]. - The company has established a retirement benefit plan in compliance with local regulations, contributing 14% of employee salaries for its Chinese subsidiaries[88]. - The company has arranged appropriate liability insurance for directors and senior officers against legal actions taken against them[81]. - The company has complied with all relevant laws and regulations in mainland China and Hong Kong as of December 31, 2020[72]. Environmental and Social Responsibility - The company has implemented ISO 14001 environmental management system certification to control environmental factors throughout the production and sales process[70]. - The company has achieved a greening rate of over 40% within its factory area[70]. - The company has established environmental goals and management plans, successfully meeting these targets[70]. - The company achieved a significant reduction in hazardous waste, producing only 3.9 tons in 2020, down from 4.29 tons in 2019, representing a decrease of approximately 9.1%[174]. - The total discharge of domestic wastewater in 2020 was 43,790 tons, a reduction of 3,208 tons compared to 46,998 tons in 2019, indicating a decrease of about 6.8%[174]. - The company maintained a particulate matter emission concentration of less than 20 mg/m3 in 2020, significantly below the regulatory standard of 120 mg/m3[173]. - The company has committed to zero complaints or penalties from government or community sources, reflecting its strong community relations[166]. - The company aims to reduce water consumption by 5% year-on-year, demonstrating its commitment to sustainable resource management[166]. - The company has established quarterly reviews of its ESG-related goals and indicators, ensuring continuous improvement and accountability[166]. Employee Engagement and Development - Employee satisfaction has remained above 90 points in recent years, with 2020 recorded at 90.5 points, reflecting the company's commitment to employee development and well-being[65]. - The company provides competitive compensation and has adopted an employee stock ownership plan to reward contributions to growth[190]. - The company offers regular free health checks for employees to enhance their sense of belonging[190]. - 100% of senior and middle management received training in 2020, with average training hours of 64.31 and 59.46 respectively[198]. - The company has established a safety committee and implemented an occupational health and safety management system based on ISO45001 standards[193]. - The company conducted 72 occupational disease checks in 2020, up from 65 in 2019, achieving full coverage for at-risk positions[194]. - The employee turnover rate for the 25-35 age group was relatively high, with 61 employees leaving[192]. - Online training sessions were conducted during the pandemic, utilizing platforms like DingTalk and Tencent Classroom[199]. - The company has a training room for over 100 people, equipped with comprehensive training facilities for employee development[197]. Market and Competition - The company faces intensified competition in the dot matrix printer industry, necessitating continuous improvement in core technology and expansion of sales channels to maintain reasonable profit levels and capture larger market shares[60]. - The COVID-19 pandemic has adversely affected overall market development, prompting the company to focus on developing medical health products to mitigate impacts[61]. - The company is enhancing its marketing efforts and collaborating with e-commerce platforms to expand sales channels and improve brand value[60]. - The company is committed to providing high-quality, cost-effective products and after-sales services, maintaining communication with customers through various channels[69]. - The company is focusing on optimizing product structure and marketing strategies to expand domestic and international sales channels[56]. Financial Management - Capital expenditures for the year were approximately RMB 12,063,000, primarily for the purchase of production equipment and product molds[27]. - As of December 31, 2020, the total assets of the group were approximately RMB 398,426,000, a decrease from RMB 406,571,000 as of December 31, 2019[29]. - The group's current liabilities increased by RMB 17,381,000 to approximately RMB 180,823,000, resulting in a current ratio of 1.33, down from 1.53 in the previous year[29]. - Cash and cash equivalents, along with restricted cash, totaled approximately RMB 104,583,000, down from RMB 129,627,000 in the previous year[29]. - The available cash reserves for distribution as of December 31, 2020, were approximately RMB 228,921,000[49]. - The company aims to provide stable and sustainable returns to shareholders through its dividend policy, which is subject to board discretion and various factors[149]. - The board regularly reviews the dividend policy, taking into account the company's financial performance and capital requirements[150].

目錄 2 公司資料 3 管理層討論與分析 8 簡明綜合中期資產負債表 10 簡明綜合中期收益表 11 簡明綜合中期全面收益表 12 簡明綜合中期權益變動表 13 簡明綜合中期現金流量表 14 簡明綜合中期財務資料附註 27 其他資料 公司資料 董事 執行董事 歐栢賢先生 （主席） 歐國倫先生 （行政總裁） 歐國良先生 獨立非執行董事 簡麗娟女士 鍾曉林博士 楊國強先生 註冊辦事處 Clifton House 75 Fort Street PO Box 1350 Grand Cayman KY1-1108 Cayman Islands 香港主要營業地點 香港 北角 渣華道191 號 嘉華國際中心 21 樓07 室 審核委員會 簡麗娟女士 （主席） 鍾曉林博士 楊國強先生 薪酬委員會 楊國強先生 （主席） 鍾曉林博士 簡麗娟女士 歐國倫先生 提名委員會 簡麗娟女士 （主席） 鍾曉林博士 楊國強先生 核數師 羅兵咸永道會計師事務所 執業會計師 香港 中環 太子大廈22 樓 公司秘書 賴世和先生 授權代表 歐國倫先生 賴世和先生 本公司香港法律顧問 盛德律師事務所 香港 中環 金融街 8 號 國際金融中心二期 39 ...

Financial Performance - The company recorded revenue of approximately RMB 297,064,000 in 2019, a decrease of about 10% compared to 2018, with a loss attributable to shareholders of approximately RMB 36,057,000[9]. - Revenue from the printer business was approximately RMB 291,390,000, accounting for about 98% of total revenue, which represents an 11% decrease from 2018 due to insufficient market demand for invoice printers in China[13]. - The company's total revenue for the year ended December 31, 2019, was approximately RMB 297,064,000, a decrease of about 10% compared to the previous year[27]. - The net loss attributable to shareholders was approximately RMB 36,057,000, compared to a loss of RMB 28,274,000 in the previous year, indicating an increase in losses[27]. - The basic loss per share was approximately RMB 0.059, up from RMB 0.045 in the previous year[27]. - The gross profit margin decreased from approximately 32% in 2018 to about 29% in 2019, primarily due to increased marketing and promotional expenses[28]. Product Development and Innovation - The company plans to launch multiple new printer products in 2020 and sees good market opportunities in the tax control sector[10]. - The company has developed a cloud printing service and positioned itself as an early player in the integration of software and hardware for cloud printing solutions[10]. - The company has introduced new products in the medical device sector, including portable oxygen machines and medical-grade nebulizers, in response to the COVID-19 pandemic[11]. - The company has repurposed existing cleanroom facilities to establish mask production capabilities, with production facilities ready for mass production of disposable medical masks[11]. - The company aims to mitigate the impact of the COVID-19 pandemic by actively resuming operations and focusing on the development of healthcare products[11]. - The company has developed a USB cloud printer that automatically connects to tax control systems, addressing the pain point of manual data entry in invoicing processes[20]. - The company is set to release a self-service thermal mini printer with features like an electric control paper warehouse and anti-loss functions, suitable for various self-service applications[15]. - The company has completed the development of a 300mm wide automatic paper cutter, which will be launched in the first quarter of 2020, supporting the growth of self-service terminal products[17]. - The company has successfully promoted electronic invoice self-service cloud printers across various sectors, including telecommunications and public services, enhancing marketing opportunities[20]. - The company is expanding its market presence with innovative products and solutions tailored to meet the demands of the rapidly growing self-service terminal market[15]. Market Conditions and Challenges - The COVID-19 pandemic has adversely affected market conditions, but the company is actively working on pandemic prevention measures and exploring opportunities in the healthcare sector[61]. - The domestic macroeconomic downturn since 2015 may lead to reduced government spending, impacting the demand for dot matrix printers; the company aims to expand its cloud application services and new retail solutions[56]. - Increased competition in the dot matrix printer industry necessitates continuous improvement in core technology and marketing strategies to maintain profit margins and market share[60]. Corporate Governance and Management - The company has a strong commitment to corporate governance to enhance investor confidence and accountability[102]. - The board of directors confirmed full compliance with the standard code of conduct for securities transactions during the year[101]. - The company emphasizes a diversity policy for board members, considering various factors such as skills, experience, and gender[142]. - The company is committed to a formal and transparent process for selecting and appointing directors[142]. - The board's diversity policy aims to achieve a balance of skills and experiences necessary for effective operation[143]. Environmental and Social Responsibility - The company has achieved ISO14001 environmental management system certification and controls environmental factors throughout the production and sales process, ensuring compliance with environmental regulations[70]. - The company has a green area coverage ratio of over 40% within its factory premises, promoting environmental sustainability[70]. - The company is dedicated to sustainable development and corporate social responsibility, integrating these principles into its long-term planning[156]. - The company has not encountered any significant violations of environmental laws and regulations in 2019[161]. - The company has established a safety committee and implemented an occupational health and safety management system based on ISO45001 standards[167]. Employee and Community Engagement - Employee satisfaction has improved, reaching a score of 92.8 in 2019, reflecting the company's commitment to employee development and well-being[65]. - The company conducted 65 occupational health checks for high-risk positions in 2019, compared to 73 in 2018, ensuring full coverage[167]. - The company has invested over hundreds of thousands annually in community and educational projects, including scholarships and support for local events[181]. Financial Management and Audit - The independent auditor's report confirms that the financial statements present a true and fair view of the group's financial performance and cash flows[186]. - The audit procedures included comparing management's forecasts with actual operating results to evaluate the reasonableness of future profit and cash flow projections[198]. - The group must disclose matters related to its ability to continue as a going concern, unless there are plans for liquidation or cessation of operations[199].

Revenue Performance - The printer business generated approximately RMB 135,490,000 in revenue for the six months ended June 30, 2019, accounting for about 99% of the group's total revenue, a decrease of approximately 10% compared to the same period in 2018 due to weak market demand and delays in new product launches [5]. - Revenue from other electronic products was approximately RMB 1,334,000, representing about 1% of total revenue, with a slight increase of RMB 69,000 compared to the same period in 2018 [6]. - Total revenue for the six months ended June 30, 2019, was approximately RMB 136,824,000, a decrease of about 10% compared to the same period last year [18]. - Revenue for the six months ended June 30, 2019, was RMB 136,824,000, down from RMB 151,518,000 in the previous year, representing a decrease of approximately 9.7% [35]. - Revenue from printer products was RMB 135,490,000, down from RMB 150,253,000 in the previous year, indicating a decline of about 9.8% [76]. Loss and Financial Performance - The loss attributable to shareholders was approximately RMB 14,901,000, compared to a loss of RMB 5,646,000 in the same period last year [18]. - The basic loss per share was approximately RMB 0.024, an increase from RMB 0.009 in the same period last year [18]. - The group incurred a net loss of RMB 15,251,000 for the six months ended June 30, 2019, compared to a net loss of RMB 6,290,000 for the same period in 2018 [35]. - The company reported a net loss of RMB 15,251,000 for the six months ended June 30, 2019, compared to a net loss of RMB 6,290,000 for the same period in 2018, representing an increase in loss of approximately 142% [37]. - Total comprehensive loss for the period amounted to RMB 15,607,000, up from RMB 6,290,000 in the previous year, indicating a year-over-year increase of about 148% [37]. Cash Flow and Assets - Cash used in operating activities was RMB 37,664,000 for the first half of 2019, compared to RMB 34,211,000 in the same period of 2018, reflecting an increase of approximately 7% [42]. - The company's cash and cash equivalents decreased by RMB 16,784,000, ending the period at RMB 78,706,000 compared to RMB 135,614,000 at the end of June 2018 [42]. - As of June 30, 2019, the total assets of the group were approximately RMB 447,508,000, an increase from RMB 429,598,000 as of December 31, 2018 [21]. - Cash and cash equivalents, along with restricted cash and financial assets at fair value, totaled approximately RMB 143,666,000, a decrease from RMB 160,602,000 as of December 31, 2018 [22]. Liabilities and Equity - The group's current liabilities increased to approximately RMB 184,678,000 from RMB 119,901,000, resulting in a current ratio of 1.57, down from 2.28 [21]. - The company’s equity attributable to shareholders decreased to RMB 262,561,000 as of June 30, 2019, down from RMB 343,850,000 at the beginning of the year, a decline of approximately 24% [40]. - The company’s total liabilities increased, leading to a higher debt-to-equity ratio, although specific figures were not disclosed in the provided data [42]. Product Development and Innovation - The company launched a series of new high-speed, high-load impact printers in the first half of 2019, including models that can handle 1+6 joint tickets and 2mm thick certificates, achieving continuous printing for 24 hours without interruption [8]. - The new micro-printer products introduced include a 24-pin micro printer that is 30% faster than standard 9-pin models, suitable for electronic invoice applications, and a self-service thermal micro printer designed for convenience and reliability in ticketing applications [8]. - The company has developed core technologies in printer equipment, including various proprietary technologies for needle, thermal, and inkjet printing, enhancing product reliability and quality [8]. - The introduction of dual-color inkjet printers and large-format printing capabilities aims to meet diverse customer needs while being environmentally friendly compared to traditional laser printing [8]. Cloud Printing and Tax Solutions - Future business outlook includes a focus on cloud printing and cloud applications, tax control solutions, new retail business, and video conferencing and education systems, aiming for significant progress in these areas [8]. - The company has developed a cloud printing platform that integrates hardware and software, supporting various network communication interfaces such as Wi-Fi, Ethernet, 4G, Bluetooth, and GPRS [10]. - The company introduced a new cloud printing solution that includes a voice-enabled printer, which can synthesize and broadcast order information, particularly suitable for food delivery and retail applications [10]. - The company has developed a low-cost tax control solution that allows merchants to print electronic invoice QR codes on existing receipts using a micro cloud printer, targeting small businesses with lower revenue [12]. - The company is actively promoting its unique tax control solutions, such as the WeChat electronic invoice cloud printing solution, which has gained significant traction in the market [12]. Employee and Management Information - The group employed 1,226 staff as of June 30, 2019, an increase from 1,061 employees as of December 31, 2018 [30]. - Total remuneration for key management was RMB 2,624,000 in the first half of 2019, slightly down from RMB 2,662,000 in 2018 [112]. Corporate Governance and Compliance - The company has complied with the corporate governance code during the reporting period, except for the absence of the chairman at the annual general meeting [127]. - The audit committee, composed of three independent non-executive directors, reviewed the unaudited condensed consolidated interim financial information for the six months ended June 30, 2019 [129].

Financial Performance - The company reported revenue of approximately RMB 329,621,000 for 2018, a decrease of about 12% compared to 2017, and a net loss attributable to shareholders of approximately RMB 28,274,000, compared to a profit of RMB 13,853,000 in 2017[7]. - Revenue from the printer business was approximately RMB 326,591,000, accounting for about 99% of total revenue, which represents an 11% decrease from 2017 due to weakened demand in the domestic invoice printer market[11]. - The company’s other electronic products business generated revenue of approximately RMB 3,030,000, accounting for about 1% of total revenue[12]. - The company's total revenue for the year ended December 31, 2018, was approximately RMB 329,621,000, a decrease of about 12% compared to the previous year[21]. - The net loss attributable to shareholders was approximately RMB 28,274,000, compared to a profit of RMB 13,853,000 in the previous year, resulting in a basic loss per share of RMB 0.045[21]. - The gross profit margin decreased from approximately 35% in 2017 to about 32% in 2018, primarily due to increased promotional policies[22]. Investments and Acquisitions - The company acquired the SaaS takeaway ordering business from Shenzhen Mingyang Information Technology Co., Ltd. for RMB 1,433,000 in the first half of 2018[29]. - The company invested RMB 2,000,000 for a 4% stake in Hunan Chengmeng Education Culture Development Co., Ltd., which focuses on education management and training services[29]. Product Development and Innovation - New product launches include the latte art printer series and the upcoming launch of the colorful nail art machine series in the first half of 2019[8]. - The interactive video conferencing system and one-to-many interactive education platform have been developed, incorporating augmented reality (AR) technology[8]. - The cloud printing technology has become a key achievement, forming the basis for the company's cloud printing open platform and application solutions, which support various network communication interfaces[15]. - The group plans to develop cloud printing technology and launch products suitable for electronic invoice printing, including continuous paper inkjet printers and electronic invoice cloud printing terminals[46]. - The group aims to expand its business direction towards cloud application services, optimizing product structure and marketing strategies to enhance domestic and international sales channels[47]. Operational Efficiency and Challenges - The company believes that 2019 will be a challenging yet promising year, with significant investments in new product development and business initiatives[8]. - The company expresses confidence in its ability to deliver sustainable and stable growth while effectively addressing challenges in the upcoming year[8]. - The group has identified several risks, including policy risks related to tax regulations affecting the demand for dot matrix printers[46]. - The group has implemented measures to mitigate supply chain risks, including quality assurance agreements with suppliers and maintaining safety stock[50]. Employee and Management - As of December 31, 2018, the group employed 1,061 staff, a decrease from 1,140 in 2017[32]. - Employee satisfaction score reached 93.7 in 2018, showing a year-on-year improvement[55]. - The company provides comprehensive training programs covering practical skills, management skills, and industry-related training[55]. - The board of directors includes Mr. Au Pak Yin as the chairman and Mr. Au Kwok Lun as the CEO[69]. Corporate Governance - The board of directors consists of three executive directors and three independent non-executive directors, ensuring a balanced skill set and experience necessary for the company's operations[114]. - The remuneration committee reviewed the compensation schemes for directors and senior management during the year, holding one meeting with full attendance[124]. - The audit committee held two meetings during the year, discussing the full-year results for 2017 and the interim results for 2018, with all members present[132]. - The company has complied with the corporate governance code, except for the absence of the chairman at the annual general meeting due to other business commitments[94]. Environmental and Social Responsibility - The company achieved ISO14001 environmental management certification, controlling environmental impacts throughout the production and sales processes[60]. - The company has not encountered any significant violations of environmental laws and regulations in 2018[154]. - The company has established a comprehensive occupational health and safety management system based on OHSAS18001 standards, ensuring a safe and healthy working environment for employees[162]. - The company has a strict policy against child labor and forced labor, confirming that all employees are over 18 years old, with no violations reported in 2018[166][167]. - The company has invested over 40,000 milliliters in community medical blood donation activities and allocated hundreds of thousands of yuan annually for educational scholarships[175]. Financial Position and Assets - As of December 31, 2018, total assets were approximately RMB 429,598,000, down from RMB 515,322,000 in 2017[24]. - The current ratio decreased to approximately 2.28 from 2.7 in 2017, mainly due to a reduction in current assets of about RMB 48,325,000[24]. - Cash and cash equivalents, restricted cash, and financial assets amounted to approximately RMB 160,602,000, down from RMB 249,521,000 in 2017[25]. - Total assets decreased from RMB 515,322 thousand in 2017 to RMB 429,598 thousand in 2018, representing a decline of approximately 16.6%[199]. - The company's equity total decreased from RMB 343,850 thousand in 2017 to RMB 277,679 thousand in 2018, reflecting a decrease of about 19.3%[199].