Financial Performance - Total revenue for 2020 was RMB 72,769,426 thousand, a slight decrease of 0.18% from RMB 72,898,756 thousand in 2019[5] - Gross profit for 2020 was RMB 1,233,731 thousand, maintaining a gross margin of 1.7% consistent with 2019[5] - The company reported a net loss of RMB 1,349,238 thousand for 2020, compared to a profit of RMB 57,519 thousand in 2019, resulting in a basic and diluted loss per share of RMB (10.71)[5] - Revenue from supply chain management and trading business contributed about 98.2% of total revenue, amounting to approximately RMB 71,443.7 million, compared to RMB 71,748.5 million in 2019[40] - Investment property rental income decreased by approximately 6.5% to about RMB 718.9 million from RMB 769.1 million in 2019, primarily due to rental concessions provided to tenants during the pandemic[41] - Financing income dropped approximately 37.4% to RMB 100.6 million from RMB 160.9 million in 2019, mainly due to a reduction in supply chain financial services offered to clients[42] - Property sales and related services revenue increased by approximately 217.7% to RMB 404.7 million from RMB 127.4 million in 2019, attributed to an increase in the area of properties delivered[43] - The company's gross profit slightly increased by about 0.7% to RMB 1,233.7 million from RMB 1,224.9 million in 2019, maintaining a stable gross profit margin of approximately 1.7%[46] - Other net income increased to RMB 248.7 million from a loss of RMB 756.3 million in 2019, primarily due to a significant reduction in unrealized losses on listed equity securities[47] - The total number of full-time employees increased to 2,027 as of December 31, 2020, compared to 1,887 in 2019[72] Assets and Liabilities - Total assets increased to RMB 62,127,930 thousand in 2020 from RMB 61,489,239 thousand in 2019[6] - Total liabilities rose to RMB 43,793,474 thousand in 2020, up from RMB 41,866,765 thousand in 2019[6] - Cash and cash equivalents were approximately RMB 1,184.7 million, a slight decrease from RMB 1,243.9 million in 2019, indicating stable cash management[60] - Total interest-bearing borrowings increased by approximately 11.8% to RMB 20,679.6 million from RMB 18,490.6 million in 2019[61] - Net debt ratio rose to 71.6% from 65.7% in 2019, primarily due to the increase in total interest-bearing borrowings[62] - As of December 31, 2020, the group has pledged assets with a total book value of approximately RMB 27,068.6 million, a decrease from RMB 28,386.6 million as of December 31, 2019[65] Digital Transformation and Technology - The company is focusing on digital transformation and has increased investment in technologies such as blockchain, artificial intelligence, and the Internet of Things[8] - Zall Smart Commerce aims to facilitate the digitalization and intelligence of transactions for traditional enterprises impacted by the pandemic[8] - The company is committed to enhancing its supply chain management and logistics capabilities through digital technology integration[8] - The company launched the "Bee Network Smart" 2.0 version, fully digitizing transactions and logistics to reduce costs and improve efficiency in the agricultural product trading scene[9] - The company launched the "Data Pro" international trade data analysis tool to help businesses diversify revenue sources and expand their global supply chain coverage[9] - The company is leveraging digital technology to drive traditional enterprises' digital transformation and expand its vertical business categories[10] Market Expansion and Strategic Initiatives - The company established 24 foreign trade service centers in 9 cities in Hubei Province, achieving an export volume of $2.5 billion, a significant increase compared to the previous year[15] - The company is expanding its digital transformation efforts, enhancing its supply chain capabilities, and increasing its market influence in various sectors including agriculture and steel[14] - The company aims to become a leading global smart trading platform provider, with aspirations to enter the Fortune Global 500[16] - The company is enhancing its offline market presence by integrating live streaming and smart market resources, creating a high-quality development path that combines online and offline trade[11] - The company is actively pursuing strategic partnerships, including a collaboration with Marubeni Corporation for coffee business operations[23] - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by 2025[78] Operational Efficiency and Cost Management - The company aims to improve operational efficiency, targeting a 10% reduction in costs through process optimization initiatives[78] - The company plans to continue developing its B2B main track and innovative supply chain services to establish an efficient and low-cost intelligent trading system[32] - The logistics segment is projected to grow by 40% due to increased demand for e-commerce solutions[86] - The company aims to reduce operational costs by 15% through process optimization initiatives[87] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with its provisions throughout the year ended December 31, 2020[171] - The board consists of eight directors, including five executive directors and three independent non-executive directors, ensuring a diverse range of expertise and industry knowledge[173] - The independent non-executive directors confirmed their independence, meeting the requirements set forth in the listing rules[177] - The company has established suitable insurance to protect directors against potential legal claims arising from corporate activities[178] - The audit committee reviewed the annual report for the year ended December 31, 2020, ensuring the integrity of financial reporting[166] Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[78] - The company has set a performance guidance of 20% revenue growth for the upcoming fiscal year[84] - New product launches are expected to contribute an additional $100 million in revenue next year[86] Shareholder Information - The largest shareholder, Zhaor Development Investment, held 6,609,022,268 shares, representing approximately 56.09% of the total shares[149] - The second largest shareholder, China Huarong Asset Management Co., Ltd., held 685,689,000 shares, accounting for 5.82% of the total shares[149] - The company maintained sufficient public float, with a minimum of 15% as required by the listing rules[152] - The company’s public shareholders, excluding directors and senior management, held a total of 5,173,803,532 shares, representing 43.91% of the total shares[149]

Financial Performance - The company reported a strong performance despite the economic pressures from the pandemic, with a significant increase in user engagement across its platforms[8]. - The company's total revenue for the six months ended June 30, 2020, was approximately RMB 35,763.1 million, a slight increase from RMB 34,723.0 million for the same period in 2019, representing a growth of about 3.0%[29]. - Revenue from supply chain management and trading business contributed approximately RMB 34,956.3 million to the total revenue, showing a slight increase due to higher income from CIC, despite decreases from other sources[30]. - The net profit for the six months ended June 30, 2020, was approximately RMB 281.1 million, a decrease of about 14.6% compared to RMB 340.5 million for the same period in 2019[49]. - Basic earnings per share decreased to RMB 2.47 from RMB 2.91, reflecting a drop of about 16%[103]. - The company’s total comprehensive income for the period was RMB 286,541 thousand, compared to RMB 306,314 thousand in the previous year, a decrease of approximately 6.4%[105]. Revenue Growth and Segments - The international trading platform CIC reported a sales revenue of approximately USD 1 billion in the first half of 2020, exceeding the total revenue of the previous year[17]. - Revenue from property sales and related services surged by approximately 187.0% to RMB 255.5 million, driven by an increase in the area of properties delivered[36]. - The profit from external customers for the reportable segments was RMB 180,102,000 for the six months ended June 30, 2020, up from RMB 143,988,000 in 2019, indicating a growth of about 25.06%[136]. Supply Chain and Market Expansion - The online and offline integration of the global supply chain has been leveraged to deliver over 10.26 million emergency supplies to 556 medical institutions in Hubei province within 48 hours[8]. - The company has expanded its smart trading ecosystem, accumulating a large customer base and enhancing supply chain management capabilities[8]. - The company is actively expanding its market scale and logistics capabilities, with ongoing construction of new areas and the introduction of a food ingredient market[13]. - The group aims to enhance its supply chain service capabilities and expand its business scale in industries such as agriculture, steel, and chemicals, while leveraging new technologies like blockchain and AI[23]. Cost Management and Expenses - Gross profit decreased by approximately 10.4% to RMB 561.4 million, with a gross margin decline from 1.8% to 1.6%, influenced by COVID-19 and reduced high-margin product transactions[38]. - Selling and distribution expenses decreased by approximately 32.1% to RMB 69.9 million, attributed to reductions in employee costs and promotional expenses[41]. - Administrative and other expenses fell by approximately 14.6% to RMB 283.9 million, mainly due to decreased share-based payment expenses and lower utility costs[42]. Investments and Financing - The total interest-bearing borrowings increased by approximately 28.7% from RMB 18,490.6 million as of December 31, 2019, to RMB 23,792.6 million as of June 30, 2020[53]. - The group is actively reviewing its capital structure and may seek additional capital sources through bond issuance or new shares under appropriate circumstances[50]. - The group has provided guarantees for mortgage financing of approximately RMB 511.0 million for property buyers as of June 30, 2020, compared to RMB 514.7 million as of December 31, 2019[60]. Employee and Governance - As of June 30, 2020, the group employed a total of 1,944 full-time employees, a decrease from 2,102 employees as of June 30, 2019[63]. - The group aims to attract and retain high-quality employees through its compensation policy, which includes basic salary, short-term bonuses, long-term incentives, and ongoing professional training[63]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules and has complied with it for the six months ending June 30, 2020[94]. Cash Flow and Liquidity - The company reported a net cash position of RMB 1,179,313 thousand, down from RMB 1,243,944 thousand, a decrease of approximately 5.2%[107]. - For the six months ended June 30, 2020, the company reported a net cash used in operating activities of RMB (1,372,367) thousand, a significant decrease compared to RMB 37,676 thousand in the same period of 2019[114]. - The company incurred a net cash used in investing activities of RMB (371,437) thousand, contrasting with a net cash provided of RMB 222,525 thousand in the prior year[116]. Market and Product Development - The Tianjin Zall Electric Mall has commenced operations with nearly 300 brand merchants participating, indicating successful market expansion[10]. - The company has signed a cooperation agreement with Marubeni Corporation to develop a "one-stop coffee smart procurement and service platform," enhancing its service offerings[10]. - The establishment of the "World Commodity Smart Trading Center" in Singapore aims to provide electronic trading services for bulk commodities across Asia and Australia[10]. Tax and Regulatory Compliance - The total income tax expense for the six months ended June 30, 2020, was RMB 213,629,000, compared to RMB 521,946,000 for the same period in 2019, showing a decrease of approximately 59%[144]. - The company’s subsidiaries in Guangxi province benefited from preferential tax rates of 9% and 15% for corporate income tax during the six months ended June 30, 2020, under local regulations[145].

Financial Performance - Total revenue for 2019 was RMB 72,898,756, an increase of 29.8% from RMB 56,116,072 in 2018[5] - Gross profit for 2019 was RMB 1,224,911, with a gross margin of 1.7%, down from 2.8% in 2018[5] - Net profit for the year was RMB 57,519, a significant decrease from RMB 1,273,907 in 2018[5] - Basic earnings per share for 2019 was RMB 0.79, compared to RMB 11.76 in 2018[5] - The group's revenue increased by approximately 29.9% from RMB 56,116.1 million for the year ended December 31, 2018, to approximately RMB 72,898.8 million for the year ended December 31, 2019[26] - The group's gross profit decreased by approximately 21.5% from RMB 1,559.6 million for the year ended December 31, 2018, to approximately RMB 1,224.9 million for the year ended December 31, 2019[34] - The profit attributable to equity shareholders for the year was RMB 92.80 million, significantly lower than RMB 1,371.30 million in 2018, a decrease of 93.2%[187] - The company's net profit for the year was RMB 57,519,000, a sharp decline from RMB 1,273,907,000 in the previous year[189] Assets and Liabilities - Total assets increased to RMB 61,489,239 in 2019 from RMB 53,081,118 in 2018[5] - Non-current assets totaled RMB 32,286,754 in 2019, up from RMB 28,820,778 in 2018[5] - Total liabilities increased to RMB 41,866,765 in 2019 from RMB 33,472,305 in 2018[5] - The total liabilities increased to RMB 31,607,503,000 in 2019 from RMB 23,654,563,000 in 2018, marking a rise of approximately 33.7%[191] - The company's equity attributable to shareholders was RMB 19,078,994,000 in 2019, slightly up from RMB 18,779,592,000 in 2018[191] Operational Developments - The company actively participated in pandemic relief efforts, organizing over 10 flights to procure and deliver more than 6 million medical supplies to Wuhan[8] - The company’s online industrial internet business has been steadily advancing since the outbreak, with the Hankou North International Commodity Trading Center recently resuming operations[10] - The company has leveraged its supply chain capabilities to support the construction and operation of makeshift hospitals in Wuhan[10] - The pandemic is expected to accelerate the development of the industrial internet, changing the way businesses organize transactions and supply chains[11] - The company has established a comprehensive supply chain management system, accumulating hundreds of thousands of customers across various B2B trading platforms in sectors like consumer goods and agriculture[11] Strategic Initiatives - The company aims to enhance its supply chain integration capabilities, recognized for its global procurement of emergency medical supplies during the pandemic, promoting a reputation for quality and efficiency[13] - The company plans to deepen its digital services, focusing on blockchain technology to create a fully integrated digital supply chain that enhances transaction and service intelligence[13] - The company is expanding its physical market presence, with projects in cities like Tianjin and Changsha, enhancing sales channels through e-commerce and industrial internet platforms[13] - The company is committed to providing quality supply chain financial products to support small and medium enterprises facing financing challenges[13] - The company is enhancing its logistics capabilities through partnerships, aiming to create a significant impact in the domestic smart warehousing service market[13] Market Performance - The HanKouBei International Commodity Trading Center achieved a total transaction volume of approximately RMB 89.9 billion in 2019, with over 32,000 merchants operating in a market area exceeding 6.8 million square meters[15] - The group’s B2B platform, ZhongNongWang, registered a total of 113,155 cumulative users and generated revenue of approximately RMB 33.94 billion in 2019, with 34,254 new customers added during the year[17] - HSH International Inc. (HuaSuoHui) achieved annual revenue of approximately RMB 8.89 billion in 2019, with a customer base of 41,703[18] - The group’s subsidiary, ZhuoGangLian, generated annual revenue of approximately RMB 20.9 billion in 2019, establishing business relationships with around 12,000 upstream and downstream customers[18] Corporate Governance - The company has adopted internal control and risk management policies to ensure compliance with relevant laws and regulations[98] - The board of directors has received annual independence confirmation from all independent non-executive directors, affirming their independence[98] - The company has established adequate insurance to protect directors against potential legal liabilities arising from corporate activities[134] - The audit committee is responsible for overseeing the company's financial reporting and internal control principles[138] - The board consists of nine directors, including six executive directors and three independent non-executive directors[132] Risk Management - Major risks identified for the year include information system risks and corporate culture integration challenges[158][159] - The company emphasizes the importance of information system security and has implemented measures to enhance and maintain it across all business units[158] - The company has a dedicated audit department established in December 2017 to enhance internal audit independence and effectiveness[152] - The risk management framework includes a continuous assessment of inherent risks and the establishment of a risk rating system[154] Shareholder Relations - The company emphasizes the importance of maintaining clear and timely communication with shareholders and investors to build confidence and attract new investments[166] - The board of directors regularly communicates with institutional investors and analysts to keep them informed about the group's strategies, operations, management, and plans[166] - The company has established a dedicated investor relations email for inquiries and suggestions from shareholders and investors[168] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[196] - The company is committed to maintaining close cooperation with financial institutions to enhance financing efficiency and improve asset structure and cash flow[160] - The company is focused on reducing its reliance on traditional real estate development and shifting towards an integrated online and offline business model, involving business restructuring and strategic mergers[162]

Financial Performance - The company reported stable growth in performance, with a focus on the industrial internet and a clear operational model, achieving a steady increase in transaction volume across its platforms [9]. - The Han Kou Bei International Commodity Trading Center exceeded its semi-annual revenue target, with significant growth in foreign trade exports and the successful launch of cross-border e-commerce customs clearance [9]. - The company reported a significant increase in transaction volume and revenue from its online platforms, contributing to overall business growth [9]. - The group’s revenue for the six months ended June 30, 2019, increased by approximately 87.7% to RMB 34,723 million, up from RMB 18,495 million for the same period in 2018 [21]. - Revenue from supply chain management and trading business contributed approximately 98.1% of the total revenue for the six months ended June 30, 2019, significantly boosted by the acquisition of 52.48% of Huashuohui in March 2018 [23]. - The company reported revenue of RMB 34,722,958 thousand, an increase from RMB 34,096,482 thousand in the same period of 2018, representing a growth of approximately 1.83% [91]. - The gross profit for the same period was RMB 626,476 thousand, compared to RMB 570,432 thousand in 2018, indicating a year-on-year increase of about 9.83% [91]. - The net profit attributable to equity shareholders decreased by approximately 72.5% from RMB 1,236.1 million to RMB 340.5 million [40]. - The company’s profit for the six months ended June 30, 2019, was RMB 312,202 thousand, a significant decrease from RMB 1,211,484 thousand in 2018, representing a decline of approximately 74.2% [94]. Operational Developments - The company is actively expanding its online platforms, enhancing supply chain service levels, and extending its overseas business in sectors such as agricultural products, chemicals, and metals [9]. - The company initiated the construction of the "Digital Han Kou Bei" system, exploring online solutions for wholesale markets nationwide [9]. - The company aims to deepen the integration of online and offline platforms, focusing on technological innovation and high-quality development opportunities in the supply chain service sector [10]. - The company has made progress in applying technologies such as blockchain and the Internet of Things, enhancing its operational capabilities [9]. - The logistics service subsidiary, Zhuojisong, has achieved significant growth, with a total order volume exceeding 82 million and nearly 110,000 drivers on its logistics platform [17]. - The group plans to expand its intelligent warehousing services across major cities in China, focusing on high-quality storage solutions for various industries [15]. Market Expansion - The group expanded its market area by 172,600 square meters in the first half of 2019, enhancing its new retail model and establishing a one-stop pet shopping center in Central China [11]. - The total export value of the pilot market procurement trade model reached USD 390 million in the first half of 2019, representing a year-on-year increase of 145% [11]. - Zhongnong Network added 4,218 new customers, bringing the total registered users to 86,837, and achieved a revenue of RMB 17.94 billion, a 37% increase year-on-year [13]. - The CIC trading platform recorded a cumulative transaction volume of nearly USD 5 billion by the end of June 2019, with over 4,000 registered users from various countries [15]. Financial Position - Cash and cash equivalents increased by approximately 17.4% from RMB 1,118.6 million to RMB 1,313.0 million, primarily due to increased cash from interest-bearing borrowings [42]. - The net debt ratio increased from 52.4% on December 31, 2018, to 55.3% on June 30, 2019, primarily due to an increase in interest-bearing borrowings to enhance operational capacity [44]. - The company reported a significant increase in trade and other receivables, which rose to RMB 10,259,090 thousand from RMB 8,604,425 thousand, reflecting an increase of approximately 19.2% [96]. - The company's total liabilities increased to RMB 24,663,142 thousand from RMB 23,654,563 thousand, marking an increase of about 4.3% [96]. - The company's interest-bearing borrowings decreased to RMB 8,672,063 thousand from RMB 9,255,114 thousand, indicating a reduction of about 6.3% [96]. Shareholder Information - As of June 30, 2019, Yan Zhi holds 6,609,022,268 shares (56.09%) through his wholly-owned company, Zall Development Investment Limited [76]. - The company has a total of 11,782,825,800 ordinary shares issued as of June 30, 2019 [81]. - Major shareholder Qi Changqun has a controlled entity holding 949,224,000 shares (8.06%) [80]. - The company has adopted a share option scheme to incentivize and reward eligible participants contributing to its business success [54]. - The maximum number of shares that can be issued under the stock option plan is capped at 1,050,000,000 shares, representing approximately 8.91% of the company's issued shares as of the report date [57]. Compliance and Governance - The company has adopted the corporate governance code as per the listing rules and has complied with it for the six months ending June 30, 2019 [83]. - All directors confirmed compliance with the securities trading standards during the six months ending June 30, 2019 [84]. - Min Xueqin was appointed as an executive director effective April 16, 2019 [75]. - The company has not used any financial instruments for hedging purposes as of June 30, 2019, and will continue to monitor foreign exchange fluctuations [45]. Accounting Standards - The company adopted IFRS 16 on January 1, 2019, which resulted in the comparative figures not being restated [144]. - The company has implemented a new accounting standard (IFRS 16) effective January 1, 2019, which has not been restated in comparative figures [103]. - The transition to IFRS 16 did not have a significant impact on the company's financial statements, as it previously accounted for all leased properties as investment properties under IAS 40 [120].

Financial Performance - The company's revenue for 2018 was RMB 56,116,072 thousand, a significant increase from RMB 22,249,176 thousand in 2017, representing a growth of approximately 152%[12] - Gross profit for 2018 was RMB 1,559,600 thousand, with a gross margin of 2.8%, down from a gross margin of 4.5% in 2017[12] - Net profit for the year was RMB 1,273,907 thousand, a decrease from RMB 2,356,482 thousand in the previous year[12] - The revenue of Zhuogang Chain reached RMB 5.7 billion by the end of 2018, having established business relationships with about 1,500 upstream and downstream customers[29] - Revenue from supply chain management and trading business contributed approximately 96.4% of the total revenue for the year ended December 31, 2018, primarily due to the full-year impact of the acquisition of 50.6% equity in Zhongnongwang completed in June 2017[39] - Revenue from e-commerce and financial services decreased by approximately 10.6% from RMB 118.6 million in 2017 to RMB 106.1 million in 2018, primarily due to a slight decline in e-commerce transaction volume[42] - Revenue from construction contracts significantly decreased by approximately 83.8% from RMB 30.9 million in 2017 to RMB 5.0 million in 2018, mainly due to projects being in the completion stage[43] - Property sales revenue decreased by approximately 10.1% from RMB 759.5 million in 2017 to RMB 682.8 million in 2018, attributed to a reduction in the area delivered in 2018[44] Assets and Liabilities - The total assets of the company increased to RMB 53,081,118 thousand in 2018 from RMB 47,343,628 thousand in 2017[13] - The company's total liabilities rose to RMB 33,472,305 thousand in 2018, compared to RMB 28,682,741 thousand in 2017[13] - The company's total equity attributable to equity shareholders increased to approximately RMB 18,779.6 million in 2018 from RMB 17,781.2 million in 2017, reflecting a solid financial position[57] - The group's interest-bearing borrowings increased by approximately 29.4% from RMB 10,994.4 million on December 31, 2017, to RMB 14,225.9 million on December 31, 2018, primarily due to the acquisition of Huashuohui and an increase in short-term borrowings[59] - The net debt-to-equity ratio rose from 39.5% on December 31, 2017, to 52.4% on December 31, 2018, mainly due to the increase in interest-bearing borrowings[60] Technology and Innovation - The company aims to leverage new technologies such as IoT, blockchain, and AI to enhance B2B trading efficiency and establish a smart supply chain ecosystem[15] - The company is committed to building a unique intelligent trading ecosystem that integrates online and offline services[15] - The company aims to strengthen its core competitiveness through technology-driven transformation, focusing on blockchain, IoT, AI, and big data applications[20] - The company launched the first domestic "Blockchain for Bulk Agricultural Products" in January 2019, enhancing supply chain efficiency and cost savings for clients[22] - The company is focusing on integrating new technologies such as blockchain, IoT, AI, and big data to enhance supply chain efficiency and reduce transaction costs for SMEs[23] Globalization and Market Expansion - The group has made significant progress in its globalization efforts, particularly in international commodity trading[16] - The company is committed to building a global import commodity distribution center and enhancing international market connections through its online and offline business integration[19] - The company is actively participating in the development of cross-border e-commerce and has been prioritized for development in the China (Wuhan) cross-border e-commerce comprehensive pilot zone[25] - The company is expanding its market presence in Southeast Asia, targeting a 30% market share within the next two years[77] Strategic Partnerships and Acquisitions - The strategic cooperation with Zhongbang Bank aims to expand the business scale of various B2B platforms[17] - The company acquired a 50.6% stake in Zhongnongwang in June 2017, enhancing its online platform business and strategic planning capabilities[72] - The company completed a strategic acquisition of a logistics firm, enhancing operational efficiency and expected to save 10% in costs annually[77] Corporate Governance - The company is committed to establishing good corporate governance practices to enhance transparency and accountability to shareholders[155] - The board of directors consists of eight members, including five executive directors and three independent non-executive directors[157] - The company has adopted the corporate governance code as per the listing rules and has complied with it throughout the year ended December 31, 2018, except for a deviation regarding the separation of roles of chairman and CEO[156] - The company has provided indemnity guarantees for all directors and senior executives against liabilities incurred in the execution of their duties[122] Risk Management - The company has established a risk management and internal control system, which is reviewed annually for effectiveness[181] - The risk management framework includes a risk rating model categorizing risks as low, medium, or high[179] - The company has identified several major risks, including information system risks, which could lead to significant data breaches if proper security measures are not established[182] Shareholder Relations - The board emphasizes the importance of clear and timely communication with shareholders to build investor confidence and attract new investors[193] - The company encourages communication with institutional investors to enhance transparency and gather feedback[197] - The company provides various channels for shareholders and investors to inquire or communicate, including a dedicated email and phone number[198]