Financial Performance - Total revenue for 2024 was RMB 359,790 thousand, a decrease of 35.8% year-on-year[10]. - Profit attributable to owners of the parent for 2024 was RMB 20,164 thousand, a significant decline of 78.0% year-on-year[10]. - Gross profit for 2024 was RMB 254,217 thousand, down from RMB 416,175 thousand in 2023[7]. - The company's net profit dropped significantly by 75.8% from RMB 80,129 thousand in 2023 to RMB 19,408 thousand in 2024, with the profit attributable to shareholders decreasing by 78.0% to RMB 20,164 thousand[15]. - Revenue decreased by 35.8% from RMB 560,406 thousand in 2023 to RMB 359,790 thousand in 2024, primarily due to a decline in GMV of digital goods transactions[32]. - Revenue from digital goods-related services fell by 52.6% from RMB 438,072 thousand in 2023 to RMB 207,831 thousand in 2024, attributed to a significant drop in GMV[34]. - Revenue from value-added services increased by 52.4% from RMB 53,783 thousand in 2023 to RMB 81,949 thousand in 2024, driven by the expansion of partnered brands[34]. - Entertainment segment revenue decreased by 53.7% from RMB 250,974 thousand in 2023 to RMB 116,297 thousand in 2024, due to changes in brand policies and marketing expenses[35]. - Game segment revenue declined by 17.0% from RMB 78,006 thousand in 2023 to RMB 64,714 thousand in 2024, resulting from supply chain integration[36]. - Communication segment revenue dropped by 69.9% from RMB 17,241 thousand in 2023 to RMB 5,183 thousand in 2024, due to adjustments in agency policies[37]. - Life services segment revenue decreased by 27.6% from RMB 121,560 thousand in 2023 to RMB 88,037 thousand in 2024, linked to collaboration adjustments with channel clients[37]. - Corporate welfare segment revenue fell by 7.6% from RMB 92,625 thousand in 2023 to RMB 85,559 thousand in 2024, due to optimization of business structure[37]. - Adjusted profit attributable to the parent company decreased from RMB 99,962 thousand in 2023 to RMB 26,163 thousand in 2024[31]. - Operating profit declined from RMB 98,920 thousand in 2023 to RMB 29,702 thousand in 2024, reflecting overall revenue challenges[31]. - The company's GMV for 2024 was RMB 9,244,575 thousand, down 44.1% from RMB 16,537,286 thousand in 2023, with notable declines across all segments[17]. Assets and Liabilities - The total assets as of December 31, 2024, amounted to RMB 1,764,025 thousand, slightly up from RMB 1,762,633 thousand in 2023[8]. - Current assets increased to RMB 1,705,900 thousand in 2024 from RMB 1,675,642 thousand in 2023[8]. - Total liabilities decreased to RMB 482,521 thousand in 2024 from RMB 505,281 thousand in 2023[8]. - Cash and cash equivalents stood at RMB 310,442 thousand, ensuring stable operating capital for the company[16]. - Total debt as of December 31, 2024, was RMB 482,521 thousand, down from RMB 505,281 thousand in 2023, with interest-bearing debt including bank loans of RMB 170,710 thousand[68]. - As of December 31, 2024, the company has no net debt, with cash and cash equivalents exceeding interest-bearing borrowings, making the capital debt ratio not applicable[73]. - The company has no assets pledged or mortgaged as of December 31, 2024[74]. Operational Strategy - The company is focused on digital transformation and enhancing operational efficiency for its clients[11]. - The company plans to focus on the restaurant, tea, coffee, and film industries in 2024, aiming to leverage digital transformation and expand partnerships with local brands[18][19]. - The company has streamlined its team structure and implemented independent management for subsidiaries to improve operational efficiency and risk management[13]. - The company emphasized cost control and business structure optimization to enhance competitiveness in response to the significant profit decline[15]. - The company is committed to optimizing operational management and continuously innovating to create long-term value for stakeholders[29]. Market and Client Base - The company has established a broad influence in various industries, including banking, internet, and telecommunications[11]. - The client base continues to expand with new clients from emerging industries such as automotive manufacturing and fast-moving consumer goods[11]. - The company has established itself as a leading service provider in the live streaming of digital gaming products, collaborating with top 30 gaming companies and producing over 100 live streaming cases[24]. Governance and Compliance - The company maintains a high standard of corporate governance practices as detailed in the annual report's corporate governance report[199]. - The board of directors includes experienced executives with over 10 years of management experience in the IT industry[81][83]. - The independent non-executive directors have extensive backgrounds in finance and management, contributing to the company's governance[85][87]. - The audit committee, along with auditors, has reviewed the company's audited consolidated financial statements for the year ending December 31, 2024[192]. - The company has complied with the corporate governance code provisions, except for a deviation noted in the responsibilities of the chairman and CEO[200]. Shareholder Information - The total equity held by Mr. Fu Xi amounts to 155,946,850 shares, representing approximately 38.16% of the company's issued share capital[128]. - Mr. Zhang Yuguo holds a total equity of 47,238,066 shares, which is about 11.56% of the company's issued share capital[128]. - Mr. Zhao Bihao's total equity is 17,101,333 shares, accounting for approximately 4.18% of the company's issued share capital[128]. - FuXi Limited holds a beneficial interest of 141,094,800 shares, representing approximately 34.53% of the issued share capital[134]. - Zhangyuguo Holdings has a beneficial interest of 45,999,600 shares, accounting for about 11.26% of the issued share capital[134]. - Luzhi Holdings owns 52,492,800 shares, which is approximately 12.85% of the issued share capital[134]. Future Outlook - The company aims to leverage digital transformation opportunities and explore new e-commerce scenarios to drive business growth in 2025[28]. - The board's decision on dividend payments will depend on operational performance, cash flow, financial condition, future business prospects, and regulatory restrictions[104]. - The company has not identified suitable acquisition targets for potential business and asset acquisitions, which may delay the planned use of funds[110]. Environmental and Social Responsibility - The company emphasizes its commitment to environmental protection and resource conservation, implementing various measures to reduce energy consumption and carbon emissions[107]. - The company is actively involved in social responsibility initiatives through its employee public welfare fund, promoting sustainable development[88]. - The company has taken steps to ensure compliance with environmental laws and regulations, with no known violations during the reporting period[108].

Financial Performance - For the year ended December 31, 2024, the company's revenue decreased by 35.8% to RMB 359,790,000, while gross profit fell by 38.9% to RMB 254,217,000[5]. - The company's net profit attributable to shareholders decreased by 78.0% to RMB 20,164,000, with basic earnings per share dropping 78.3% to RMB 0.05[5]. - The adjusted profit attributable to the parent company decreased from RMB 99,962 thousand in 2023 to RMB 26,163 thousand in 2024[23]. - The company reported a net profit of RMB 19,408 thousand for the year ended December 31, 2024, compared to RMB 80,129 thousand in 2023, reflecting a significant decrease[79]. - The pre-tax profit decreased from RMB 95,362 thousand in 2023 to RMB 26,029 thousand in 2024 after deducting financial costs[53]. - The company reported a pre-tax profit of RMB 26,029 thousand for the year ended December 31, 2024, compared to RMB 95,362 thousand in 2023, indicating a decline of approximately 72.7%[83]. Revenue Breakdown - The entertainment segment's GMV fell by 39.3% to RMB 3,121,293,000, with revenue down 53.7% to RMB 116,297,000, representing 32.3% of total revenue[10]. - Revenue from the entertainment segment decreased by 53.7% from RMB 250,974 thousand in 2023 to RMB 116,297 thousand in 2024, primarily due to changes in brand partnerships and marketing expenses[31]. - The gaming segment's revenue fell by 17.0% from RMB 78,006 thousand in 2023 to RMB 64,714 thousand in 2024, attributed to supply chain integration and reduced collaboration with third-party suppliers[32]. - Revenue from the communication segment plummeted by 69.9% from RMB 17,241 thousand in 2023 to RMB 5,183 thousand in 2024, mainly due to adjustments in agent policies by telecom operators[33]. - The lifestyle services segment's revenue decreased by 27.6% from RMB 121,560 thousand in 2023 to RMB 88,037 thousand in 2024, resulting from adjustments in partnerships with channel customers[34]. - The corporate welfare segment's revenue declined by 7.6% from RMB 92,625 thousand in 2023 to RMB 85,559 thousand in 2024, due to optimization of business structure[35]. Cost and Expenses - Total sales costs decreased by 26.8% from RMB 144,231 thousand in 2023 to RMB 105,573 thousand in 2024, primarily due to a significant reduction in commission service fees[36]. - Commission costs dropped by 52.4% from RMB 43,484 thousand in 2023 to RMB 20,684 thousand in 2024, reflecting the decline in digital goods transactions[37]. - Labor-related costs decreased by 16.2% from RMB 89,689 thousand in 2023 to RMB 75,140 thousand in 2024, due to adjustments in the operational team's structure[38]. - Administrative expenses decreased by 11.2% from RMB 109,211 thousand in 2023 to RMB 97,010 thousand in 2024, mainly due to reductions in various service fees and expenses[47]. - Research and development costs decreased by 24.5% from RMB 58,571 thousand in 2023 to RMB 44,218 thousand in 2024, mainly due to reduced employee compensation and service fees[48]. Strategic Focus and Future Plans - The company plans to focus on the restaurant, tea, and film industries in 2024, aiming to enhance digital transformation and expand its service offerings[8]. - The company is exploring new partnerships in the film ticketing sector, anticipating improved performance in 2025 despite current challenges[9]. - The company is committed to diversifying its product line to meet varying consumer demands and enhance competitiveness in the market[12]. - The company aims to leverage digital transformation opportunities and enhance its competitive edge in digital consumption and AI technology applications[22]. - The company plans to continuously innovate and optimize operational models to enrich product and service offerings[22]. Market Trends and Segment Performance - The gaming industry is showing positive trends with increasing demand for game live streaming e-commerce, leading to more collaboration opportunities with top game manufacturers[16]. - The company has established itself as a leading service provider in the game live streaming sector, collaborating with top 30 game manufacturers and successfully executing over 100 live streaming cases[17]. - The entertainment segment is adjusting strategies to enhance communication with brand partners and explore new sales channels, aiming to improve market performance[12]. Cash Flow and Financial Position - Cash and cash equivalents as of December 31, 2024, amounted to RMB 310,442 thousand, up from RMB 147,347 thousand at the beginning of the year[62]. - Net cash generated from operating activities for the year ended December 31, 2024, was RMB 205,001 thousand, primarily due to a pre-tax profit of RMB 26,029 thousand[63]. - Net cash used in investing activities for the year ended December 31, 2024, was RMB 80,788 thousand, mainly due to the purchase of financial products totaling RMB 704,859 thousand[64]. - The company has established management systems for cash and financial management to ensure better risk control[61]. - The company plans to regularly review its liquidity and financing needs to meet operational requirements[61]. Assets and Liabilities - Total assets increased from RMB 1,762,633 thousand as of December 31, 2023, to RMB 1,764,025 thousand as of December 31, 2024, while total liabilities decreased from RMB 505,281 thousand to RMB 482,521 thousand[59]. - The total debt as of December 31, 2024, was RMB 482,521 thousand, down from RMB 505,281 thousand in 2023[67]. - Trade payables decreased by RMB 22,872 thousand due to a reduction in digital goods trading scale[68]. - The company had 792 employees as of December 31, 2024, all based in China[75]. Shareholder and Governance Information - Zhangyuguo Holdings and Zhaobihao Holdings are identified as significant shareholders, indicating potential influence on corporate governance and strategy[142]. - The audit committee has reviewed the audited consolidated financial statements for the year ended December 31, 2024[133]. - The auditor confirmed that the figures in the performance announcement are consistent with the audited consolidated financial statements[134].

& 福禄控股 Fulu Holdings Limited 福禄控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號 : 2101 T 中期報告 2024 | --- | --- | |-------|----------------------------------| | | | | | | | | 目錄 | | | | | 2 | 公司資料 | | 4 | 財務概要 | | 5 | 董事長報告 | | 10 | 管理層討論及分析 | | 24 | 其他資料 | | 33 | 中期簡明綜合損益及其他全面收益表 | | 34 | 中期簡明綜合財務狀況表 | | 36 | 中期簡明綜合權益變動表 | | 37 | 中期簡明綜合現金流量表 | | 39 | 中期簡明綜合財務資料附註 | | 56 | 釋義及詞彙 | 公司資料 | --- | --- | |---------------------------------|-------------------------------------------------------------| | | | | 董事會 | 核數師 | | 執行董事 | 安永會 ...

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 196,046 thousand, a decrease of 21.9% compared to RMB 250,950 thousand in the same period of 2023[6]. - Gross profit for the same period was RMB 146,739 thousand, down 20.6% from RMB 184,742 thousand year-on-year[6]. - Profit before tax was RMB 44,751 thousand, a slight decrease of 2.8% from RMB 46,025 thousand in the previous year[6]. - Net profit attributable to the owners of the parent company was RMB 36,320 thousand, down 11.0% from RMB 40,807 thousand in the same period last year[6]. - The company reported a net profit of RMB 35,247 thousand for the first half of 2024, compared to RMB 38,464 thousand in the same period of 2023[21]. - The adjusted profit attributable to the parent company for the six months ended June 30, 2024, was RMB 36,925 thousand, a decrease of 14.6% from RMB 43,245 thousand in 2023[49]. - The company reported a pre-tax profit of RMB 44,751 thousand for the six months ended June 30, 2024, slightly up from RMB 46,025 thousand for the same period in 2023[96][97]. - The net profit for the six months ended June 30, 2024, was RMB 36,320,000, compared to a profit of RMB 40,807,000 for the same period in 2023, indicating a decrease of about 10.9%[90]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 1,773,214 thousand, a slight increase of 0.6% from RMB 1,762,633 thousand at the end of 2023[7]. - Total liabilities decreased by 4.7% to RMB 481,412 thousand from RMB 505,281 thousand at the end of 2023[7]. - The net asset value increased to RMB 1,291,802 thousand, up 2.7% from RMB 1,257,352 thousand at the end of 2023[7]. - The total current assets as of June 30, 2024, amounted to RMB 1,716,040 thousand, an increase from RMB 1,675,642 thousand at the end of 2023[87]. - Trade receivables increased to RMB 646,161 thousand as of June 30, 2024, compared to RMB 544,148 thousand at the end of 2023, representing an increase of 18.7%[87]. - Total debt as of June 30, 2024, was RMB 481,412 thousand, a decrease from RMB 505,281 thousand as of December 31, 2023[56]. Revenue Segmentation - The digital goods-related service revenue fell by 42.1% year-on-year to RMB 113,456 thousand, while value-added service revenue increased by 76.2% to RMB 58,979 thousand[12]. - The revenue from the lifestyle services segment decreased by 23.5% to RMB 37,391 thousand, accounting for 19.1% of total revenue[14]. - The entertainment segment's revenue fell by 30.9% to RMB 75,750 thousand, representing 38.6% of total revenue[15]. - The communication segment's revenue dropped significantly by 61.1% to RMB 2,928 thousand, making up 1.5% of total revenue[16]. - The gaming segment's revenue decreased by 12.8% to RMB 35,757 thousand, accounting for 18.2% of total revenue[17]. - The corporate welfare segment's revenue slightly increased by 0.6% to RMB 44,220 thousand, representing 22.6% of total revenue[18]. Cost Management and Efficiency - The company has strengthened inventory management and supply chain procurement processes to enhance capital efficiency and control costs[9]. - The company has optimized its business structure and strategically expanded to improve service quality and reduce costs amid increasing price competition[11]. - The company plans to optimize cost management and enhance operational efficiency in response to external uncertainties[19]. - Total sales costs decreased by 25.5% from RMB 66,208 thousand to RMB 49,307 thousand, mainly due to a significant drop in commission service fees[30]. - Commission costs decreased by 47.3% from RMB 23,131 thousand to RMB 12,183 thousand, reflecting a decline in digital goods transactions[32]. Research and Development - Research and development costs were reduced by 49.3% to RMB 16,485 thousand, indicating a strategic focus on cost management[21]. - The company is focused on research and development of new technologies to meet diverse customer needs and enhance competitive advantage[63]. Market Expansion and Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[8]. - The company aims to explore new growth points in the digital economy and local digital consumption sectors[19]. - Future outlook remains positive, with anticipated growth driven by both new product offerings and market expansion strategies[130]. Corporate Governance and Employee Management - The company is committed to high standards of corporate governance and has adhered to the corporate governance code, except for the separation of the roles of Chairman and CEO[61]. - The company emphasizes a culture of collaboration, efficiency, innovation, and excellence, aiming to enhance operational efficiency and customer service[62][63]. - The company provides competitive compensation packages to attract and retain talent, including basic salary, bonuses, and other benefits[60]. - The company participates in mandatory employee benefit plans, contributing a percentage of employee salary costs to these plans[60]. Cash Flow and Financing - The company's cash and cash equivalents stood at RMB 203,405 thousand, ensuring stable operating capital[12]. - Net cash generated from operating activities for the six months ended June 30, 2024, was RMB 31,248 thousand, a significant recovery from a net cash used of RMB 13,366 thousand in 2023[52]. - The company reported a net cash inflow from financing activities of RMB 24,237 thousand for the six months ended June 30, 2024, down from RMB 81,811 thousand in 2023[54]. - The net cash flow from investing activities was RMB 361 thousand for the six months ended June 30, 2024, compared to a net cash outflow of RMB 18,284 thousand in 2023[53]. Shareholder Information - As of June 30, 2024, the total equity held by Mr. Fu Xi amounts to 155,946,850 shares, representing 38.16% of the company's issued share capital[71]. - Mr. Zhang Yuguo holds a total equity of 47,238,066 shares, which is approximately 11.56% of the company's issued share capital[71]. - Mr. Zhao Bihao's total equity amounts to 17,101,333 shares, representing about 4.18% of the company's issued share capital[71]. Strategic Investments - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[66]. - The company has no significant investments or acquisitions during the six months ended June 30, 2024, and is actively seeking new business development opportunities[57]. - The company faces potential delays in utilizing IPO proceeds due to regulatory approvals required for foreign investment in China[70]. - The company has not yet identified suitable acquisition targets, leading to a delay in the anticipated use of proceeds[69].

Financial Performance - Total revenue for 2023 reached RMB 560,406,000, an increase of 16.7% compared to RMB 479,863,000 in 2022[10] - Gross profit for 2023 was RMB 416,175,000, reflecting a growth of 15.8% from RMB 359,236,000 in the previous year[10] - Profit before tax increased to RMB 95,362,000, up by 10.4% from RMB 86,279,000 in 2022[10] - Net profit attributable to the owners of the parent company was RMB 91,614,000, a decrease of 6.4% compared to RMB 97,881,000 in 2022[10] - Net profit for the year decreased by 11.7% to RMB 80,129 thousand, down from RMB 90,726 thousand in 2022[25] - Adjusted profit attributable to the parent company was RMB 99,962 thousand in 2023, down from RMB 115,078 thousand in 2022[43] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 1,762,633,000, an increase of 11.9% from RMB 1,575,477,000 in 2022[12] - Current assets rose to RMB 1,675,642,000, up by 12.6% from RMB 1,487,839,000 in the previous year[12] - Total liabilities increased to RMB 505,281,000, representing a rise of 38.4% from RMB 365,095,000 in 2022[12] - Total debt as of December 31, 2023, was RMB 505,281 thousand, an increase from RMB 365,095 thousand as of December 31, 2022[93] Revenue Segmentation - The life services segment and corporate welfare segment saw rapid revenue growth, achieving RMB 121,560 thousand and RMB 92,625 thousand respectively, with year-on-year increases of 115.9% and 65.0%[17] - The digital goods-related services revenue grew by 14.3% year-on-year to RMB 438,072 thousand, while physical goods-related services revenue surged by 74.9% to RMB 47,441 thousand[17] - The corporate welfare segment's GMV increased by 43.7% year-on-year, reaching RMB 813,755 thousand, with its revenue share rising to 16.5%[20] - The gaming segment's revenue showed steady growth, increasing by 11.1% year-on-year to RMB 78,006 thousand[17] - The entertainment segment's revenue slightly declined by 6.2% to RMB 250,974 thousand[17] - The telecommunications segment experienced a significant decline of 42.1% year-on-year, dropping to RMB 17,241 thousand[17] Strategic Focus and Future Plans - The company plans to focus on digital goods and services to meet evolving consumer demands, which are expected to drive future growth[15] - The company aims to enhance its market presence through strategic adjustments and increased subsidies to attract consumers[16] - In 2024, the company aims to focus on core business segments and optimize capital allocation while enhancing operational efficiency[34] - The company plans to enhance its digital welfare business and explore new differentiated advantages to maximize return on welfare investments[37] Operational Efficiency and Cost Management - The company upgraded its "Smart Cloud Warehouse 2.0" to enhance operational efficiency, with a new scale of 42,500 m²[20] - Total sales cost rose by 19.6% from RMB 120,627 thousand in 2022 to RMB 144,231 thousand in 2023, primarily due to increased commission service fees and labor costs[57] - Sales and distribution expenses increased by 16.6% from RMB 148,632 thousand in 2022 to RMB 173,235 thousand in 2023, driven by a 30.7% rise in employee compensation and benefits[69] - Administrative expenses rose by 10.3% from RMB 98,994 thousand in 2022 to RMB 109,211 thousand in 2023, mainly due to increased intermediary service fees and depreciation of right-of-use assets[70] Shareholder Returns and Dividends - The company decided not to declare a final dividend for the year ending December 31, 2023, to retain sufficient capital for business development[38] - The board has approved a dividend payout of HKD 0.10 per share, reflecting a commitment to returning value to shareholders[116] - The company does not recommend the distribution of a final dividend for the year ending December 31, 2023, due to considerations of operational performance and future business prospects[142] Market Position and Competition - Increased competition among e-commerce platforms is anticipated as they adjust strategies to capture market share in local life services and travel sectors[16] - The company successfully entered the service systems of major state-owned banks, including Industrial and Commercial Bank of China and China Construction Bank, expanding its client base in the financial sector[22] Awards and Recognition - The company received multiple awards, including recognition as a top 100 private enterprise in Hubei Province and the "Best TMT Company" award from Zhitong Finance[23] Research and Development - The company is investing HKD 50 million in R&D for new technologies aimed at enhancing user experience[116] Environmental Commitment - The company emphasizes environmental protection and resource conservation, implementing various measures to reduce energy consumption and carbon emissions[144] - The company is committed to maintaining compliance with environmental laws and regulations, ensuring no known violations occurred during the reporting period[144]

Financial Performance - For the fiscal year ended December 31, 2023, the company reported revenue of RMB 560,406,000, an increase of 16.8% from RMB 479,863,000 in 2022[23]. - Gross profit for the same period was RMB 416,175,000, reflecting a growth of 15.9% compared to RMB 359,236,000 in 2022[23]. - The company's profit before tax was RMB 95,362,000, marking a 10.5% increase from the previous year's figure[23]. - The total comprehensive income for the year was RMB 80,129,000, a decrease of 11.7% from RMB 90,726,000 in 2022[23]. - The basic earnings per share for the year were RMB 0.23, down 4.2% from RMB 0.24 in the previous year[23]. - The company reported a net profit of RMB 80,129 thousand for 2023, down from RMB 90,726 thousand in 2022[37]. - Adjusted net profit attributable to the parent company was RMB 99,962 thousand in 2023, compared to RMB 115,078 thousand in 2022[37]. - Operating profit for 2023 was RMB 98,920 thousand, compared to RMB 87,789 thousand in 2022[92]. - Profit before tax increased to RMB 95,362 thousand in 2023 from RMB 86,279 thousand in 2022[94]. - The total profit and comprehensive income for the year amounted to RMB 97,881,000, with a decrease of RMB 7,155,000 compared to the previous year[135]. Segment Performance - The company's GMV for 2023 was RMB 16,537,286,000, a slight decrease of 1.5% from RMB 16,795,530,000 in 2022[25]. - The lifestyle services segment achieved a GMV of RMB 5,368,886,000, a significant increase of 45.2% from RMB 3,697,251,000 in 2022[25]. - The gaming segment's GMV grew by 96.3% to RMB 3,091,306,000, compared to RMB 1,575,086,000 in the previous year[25]. - The telecommunications segment experienced a decline in GMV, falling 58.9% to RMB 2,123,446,000 from RMB 5,168,140,000 in 2022[25]. - The corporate welfare segment's GMV increased by 43.7% to RMB 813,755,000, up from RMB 566,335,000 in 2022[25]. - Revenue from the lifestyle services segment increased significantly by 115.9% year-on-year to RMB 121,560 thousand, accounting for 21.7% of total revenue[26]. - The entertainment segment's revenue decreased by 6.2% year-on-year to RMB 250,974 thousand, representing 44.8% of total revenue[27]. - The gaming segment's revenue grew by 11.1% year-on-year to RMB 78,006 thousand, accounting for 13.9% of total revenue[30]. - The corporate welfare segment's revenue surged by 65.0% year-on-year to RMB 92,625 thousand, representing 16.5% of total revenue[31]. Revenue Composition - Revenue from digital goods-related services accounted for 78.1% of total revenue in 2023, increasing from 79.8% in 2022[38]. - Revenue from physical goods-related services surged by 74.9% to RMB 47,441 thousand in 2023, up from RMB 27,126 thousand in 2022[39]. - Revenue from value-added services, including online store operations, decreased by 5.3% to RMB 53,783 thousand in 2023[40]. - Revenue from digital goods-related services rose by 14.3% from RMB 383,105 thousand in 2022 to RMB 438,072 thousand in 2023, with significant growth in lifestyle services[59]. Cost and Expenses - The cost of sales rose by 19.6% from RMB 120,627 thousand in 2022 to RMB 144,231 thousand in 2023, mainly due to increased commission service fees and labor costs associated with business development[69]. - Commission expenses increased by 8.3% from RMB 40,164 thousand in 2022 to RMB 43,484 thousand in 2023, attributed to higher digital goods transaction volumes[72]. - Labor-related costs surged by 25.5% from RMB 71,469 thousand in 2022 to RMB 89,689 thousand in 2023, driven by the rapid growth in the lifestyle services, gaming, and corporate benefits segments[72]. - Sales and distribution expenses increased by 16.6% from RMB 148,632 thousand in 2022 to RMB 173,235 thousand in 2023, primarily due to increased employee compensation and benefits, as well as labor dispatch service costs, which rose by 30.7% to RMB 83,615 thousand[81]. - Administrative expenses rose by 10.3% from RMB 98,994 thousand in 2022 to RMB 109,211 thousand in 2023, driven by increased intermediary service fees and depreciation expenses[88]. Cash Flow and Assets - Cash and cash equivalents as of December 31, 2023, were RMB 147,347 thousand, a decrease from RMB 149,825 thousand as of December 31, 2022[105]. - Net cash used in operating activities for the year ended December 31, 2023, was RMB 49,904 thousand, compared to net cash generated of RMB 22,483 thousand for the year ended December 31, 2022[106]. - Net cash generated from investing activities for the year ended December 31, 2023, was RMB 1,525 thousand, compared to net cash used of RMB 22,406 thousand for the year ended December 31, 2022[109]. - Total assets increased from RMB 1,575,477 thousand as of December 31, 2022, to RMB 1,762,633 thousand as of December 31, 2023, representing an increase of approximately 11.85%[101]. - Total liabilities rose from RMB 365,095 thousand as of December 31, 2022, to RMB 505,281 thousand as of December 31, 2023, an increase of approximately 38.38%[101]. Shareholder Information - The company declared a dividend of RMB 42,863,000 for the year, which is consistent with the previous year's dividend[142]. - The basic earnings per share for 2023 were RMB 0.23, a decrease from RMB 0.24 in 2022[199]. - The diluted earnings per share for 2023 were also RMB 0.23, unchanged from the previous year[200]. - The weighted average number of ordinary shares issued for basic earnings calculation was 404,270,914 in 2023, up from 401,842,019 in 2022, reflecting a slight increase of about 1.1%[189]. Future Outlook - The company aims to enhance its core competitiveness and industry influence through digital transformation and R&D[35]. - The management believes that the digital enterprise welfare business has significant growth potential in the current global economic context[35]. - The company plans to continue expanding its service offerings and improve the return on investment for corporate welfare[35].

Revenue Growth - Total revenue for the six months ended June 30, 2023, was RMB 250,950 thousand, an increase of 27.7% from RMB 196,400 thousand for the same period in 2022[7] - Revenue from digital goods-related services reached RMB 196,028 thousand, accounting for 78.1% of total revenue, compared to RMB 155,696 thousand and 79.3% in the previous year[7] - Revenue from physical goods-related services surged by 94.7% to RMB 21,458 thousand, up from RMB 11,023 thousand in the prior year[8] - Revenue from the life services segment grew by 142.3% to RMB 48,871 thousand, attributed to new partnerships and increased digital goods transactions[19] - The corporate welfare segment's revenue grew by 111.3% year-on-year, reaching RMB 43,944 thousand, accounting for 17.5% of total revenue[54] - The revenue from the entertainment segment slightly decreased from RMB 109,634 thousand for the six months ended June 30, 2022, to RMB 109,585 thousand for the six months ended June 30, 2023[36] - The gaming segment revenue rose by 28.1% from RMB 32,022 thousand to RMB 41,016 thousand, driven by expanded downstream sales channels[38] Profitability - Gross profit increased by 24.7% to RMB 184,742 thousand, while gross margin decreased from 75.4% to 73.6% due to lower margins in entertainment and gaming segments[14] - The gross profit from the corporate welfare segment rose by 126.4% to RMB 39,653 thousand, driven by the expansion of downstream sales channels[15] - The company reported a net profit attributable to shareholders of RMB 40,807 thousand, reflecting a year-on-year increase of 15.1%[48] - Pre-tax profit grew by 28.5% from RMB 35,830 thousand in the first half of 2022 to RMB 46,025 thousand in the first half of 2023[66] - Net profit attributable to the parent company increased by 15.1% from RMB 35,453 thousand in the first half of 2022 to RMB 40,807 thousand in the first half of 2023[66] Expenses and Costs - Sales and distribution expenses increased by 14.0% to RMB 71,398 thousand, primarily due to higher employee benefits and business operation costs[18] - The sales cost increased by 37.1% from RMB 48,290 thousand for the six months ended June 30, 2022, to RMB 66,208 thousand for the same period in 2023[24] - Commission costs rose by 42.4% from RMB 16,247 thousand to RMB 23,131 thousand, primarily due to increased digital goods transactions[25] - Labor-related costs increased by 28.8% from RMB 29,248 thousand to RMB 37,682 thousand, driven by rapid business growth in various segments[25] - Research and development costs increased by 27.5% to RMB 32,514 thousand from RMB 25,505 thousand, driven by investments in enhancing proprietary intellectual property platforms[113] - Administrative expenses rose by 17.7% to RMB 47,883 thousand from RMB 40,666 thousand, primarily due to increased office lease costs and employee compensation[112] Cash Flow and Financial Position - The company's cash and cash equivalents stood at RMB 200,089 thousand, indicating a strong cash reserve[71] - Operating cash flow for the period was a net outflow of RMB 13,366 thousand, compared to a net inflow of RMB 107,960 thousand in the previous year[109] - The net cash generated from operating activities for the six months ended June 30, 2023, was RMB 55,811 thousand, compared to RMB 50,017 thousand for the same period in 2022[146] - Total debt as of June 30, 2023, was RMB 509,894 thousand, up from RMB 365,095 thousand as of December 31, 2022[126] - The company reported a net cash inflow from financing activities of RMB 81,811 thousand for the six months ended June 30, 2023, compared to a net outflow of RMB 34,245 thousand for the same period in 2022[146] Market and Strategic Initiatives - The company plans to continue leveraging innovation and collaboration to drive growth in the digital economy[3] - The company plans to continue expanding its digital goods and services offerings to enhance revenue streams and market presence[28] - The company is actively exploring partnerships with local governments to develop cultural tourism projects, leveraging live streaming to enhance local cultural features[56] - The company has established a mature overseas business operation model, collaborating with major players like Tencent and BIGO for global supply chain services[70] Shareholder Information - The board does not recommend declaring any interim dividend for the six months ended June 30, 2023[153] - The total equity held by Mr. Fu Xi amounts to 155,946,850 shares, representing 38.16% of the company's issued share capital[186] - Mr. Zhang Yuguo holds a total equity of 47,238,066 shares, accounting for 11.56% of the company's issued share capital[186] - The company aims to attract top talent and align their interests with the group's success through the share incentive plan[196] - The total number of restricted shares granted under the plan as of June 30, 2023, was 8,640,887, representing 0.54% of the weighted average number of shares issued during the reporting period[177]

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之任何損失承擔任何責 任。 Fulu Holdings Limited 福祿控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2101） 2023年 中 期 業 績 公 告 福祿控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司連同其附屬 2023 6 30 公司及其綜合聯屬實體截至 年 月 日止六個月之未經審核中期業績。本 2023 公告列載本公司 年中期報告全文，並符合香港聯合交易所有限公司證券上 市規則中有關中期業績初步公告附載的資料之要求。 2023 2023 9 本公司 年中期報告及其印刷版本將於 年 月底之前發佈並寄發予本公 www.hkexnews.hk 司股東，並可在香港交易及結算所有限公司網站 及本公司網站 www.fulu.com 閱覽。 承董事會命 福祿控股有限公司 董事長 符熙 中國湖北省武漢 ...

Financial Performance - Revenue for 2022 reached RMB 479.863 million, an increase of 20.2% compared to RMB 399.283 million in 2021[6] - Gross profit for 2022 was RMB 359.236 million, up 21.7% from RMB 295.244 million in 2021[6] - Profit before tax increased to RMB 86.279 million, representing a growth of 14.0% from RMB 75.197 million in 2021[6] - Total comprehensive income for the year was RMB 90.726 million, a rise of 33.0% compared to RMB 68.222 million in 2021[6] - The net profit for the year rose by 33.0% to RMB 90,726 thousand from RMB 68,222 thousand in 2021, with profit attributable to the parent company increasing by 43.5% to RMB 97,881 thousand[51] - The operating profit for 2022 was RMB 87,789 thousand, an increase from RMB 75,857 thousand in 2021[131] - Gross profit increased by 21.7% from RMB 295,244 thousand in 2021 to RMB 359,236 thousand in 2022, with a gross margin improvement from 73.9% to 74.9%[103] Business Segments Performance - In 2022, the total GMV achieved by the company was RMB 16,795,530 thousand, a decrease of 21.2% compared to RMB 21,318,167 thousand in 2021[34] - The life services segment's GMV grew by 137.8% to RMB 3,697,251 thousand, while the entertainment segment's GMV increased by 3.8% to RMB 5,788,718 thousand[34] - The telecommunications segment's GMV declined by 59.8% to RMB 5,168,140 thousand, reflecting significant challenges in that area[34] - The gaming segment's GMV rose by 18.4% to RMB 1,575,086 thousand, indicating resilience despite regulatory pressures[34] - The newly established corporate welfare segment achieved a GMV of RMB 566,335 thousand within its first year of operation[34] - The life services segment's revenue increased by 38.0% to RMB 56,300 thousand, accounting for 11.7% of total revenue[35] - The entertainment segment's revenue grew by 24.0% to RMB 267,441 thousand, representing 55.7% of total revenue[35] - The gaming segment revenue increased by 14.1% from RMB 61,546 thousand in 2021 to RMB 70,237 thousand in 2022, attributed to the expansion of downstream sales channels[67] - The lifestyle services segment revenue surged by 38.0% from RMB 40,809 thousand in 2021 to RMB 56,300 thousand in 2022, driven by new partnerships with lifestyle service brands[68] - The gross profit from the gaming segment increased by 19.4% to RMB 45,383 thousand in 2022, up from RMB 38,023 thousand in 2021[123] Investments and Assets - Non-current assets increased to RMB 87.638 million in 2022 from RMB 33.585 million in 2021, indicating a significant investment in long-term resources[12] - Total assets rose to RMB 1,575.477 million in 2022, up from RMB 1,377.308 million in 2021, reflecting overall growth in the company's financial position[12] - The total debt as of December 31, 2022, was RMB 365,095 thousand, up from RMB 213,379 thousand in 2021[143] - The company’s capital expenditures rose by 23.3% from RMB 13,019 thousand for the year ended December 31, 2021, to RMB 16,058 thousand for the year ended December 31, 2022[153] Cash Flow and Liquidity - The company reported a net cash inflow from operating activities of RMB 22,483 thousand, with cash and cash equivalents amounting to RMB 149,825 thousand, indicating strong liquidity[51] - The company’s cash flow from operating activities improved to RMB 22,483 thousand in 2022, compared to a cash outflow of RMB 123,865 thousand in 2021[139] - As of December 31, 2022, the company's cash and cash equivalents amounted to RMB 149,825 thousand, a decrease from RMB 209,445 thousand at the beginning of the year[115] - As of December 31, 2022, the company had no net debt, as cash and cash equivalents significantly exceeded interest-bearing borrowings[157] Strategic Initiatives - The company has established an overseas digital business team and developed an overseas self-operated platform to expand its services and supply chain internationally[18] - The overseas payment system has been enhanced, covering Europe, the Middle East, and Asia-Pacific regions, improving user conversion rates and payment experiences[18] - The company is focusing on localizing its platform design to cater to different countries' consumer habits and languages, enhancing operational precision[18] - The company aims to diversify its business model and enhance risk hedging capabilities in response to global economic challenges[16] - The company plans to explore overseas digital business opportunities and enhance brand presence in international markets[41] - The company aims to deepen user value by increasing cross-selling and enhancing user experience through tailored scenarios and products[42] - The company launched the "FP Plan" to enhance digital goods offerings and support small and medium enterprises in monetizing traffic[29] - The company plans to significantly invest in its live streaming business, expanding the scale of live streaming rooms and cultivating a team of over 100 live streamers[57] Cost Management - Labor-related costs rose by 37.0% from RMB 52,176 thousand in 2021 to RMB 71,469 thousand in 2022, mainly due to an increase in employee numbers and optimization of the workforce structure[71] - Total sales costs rose by 15.9% from RMB 104,039 thousand in 2021 to RMB 120,627 thousand in 2022, mainly due to increased labor costs[96] - Research and development costs rose by 48.2% to RMB 61,289 thousand in 2022, compared to RMB 41,357 thousand in 2021, due to increased strategic investments in SaaS applications[128] - Sales and distribution expenses surged by 93.4% to RMB 148,632 thousand in 2022, primarily due to increased wages and benefits[126] Shareholder Returns - The board declared a final dividend of HKD 0.116 per share, totaling approximately HKD 47 million[43] - The board proposed a final dividend of HKD 0.116 per share for the year ended December 31, 2022[111] Miscellaneous - FuXi Limited is wholly owned by Mr. Fu Xi, who holds 141,094,800 shares, representing full equity interest in the company[191] - The group primarily engages in services that promote digital goods transactions and online store operations[195] - The financial statements include key audit matters that are crucial for the review of the consolidated financial statements[189]

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，並明確表示概不就因本公告全 部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Fulu Holdings Limited 福祿控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2101） 截 至2022年12月31日 止 年 度 業 績 公 告 福祿控股有限公司（「本公司」）董事會欣然宣佈本公司截至2022年12月31日止年 度的經審計合併業績。截至2022年12月31日止年度的合併財務報表已由本公司 核數師審計並已由審計委員會審閱。 財務概要 截至12月31日止年度 增加╱ 2022年 2021年 （減少） （人民幣千元） % 收入 479,863 399,283 20.2 毛利 359,236 295,244 21.7 稅前利潤 86,279 75,197 14.7 年內利潤及全面收益總額 90,726 68,222 33.0 ...