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 ...

Revenue Performance - Total revenue for the first half of 2022 was RMB 196,400 thousand, a slight decrease of 2.1% year-on-year[10]. - Revenue decreased by 2.1% from RMB 200,538 thousand in H1 2021 to RMB 196,400 thousand in H1 2022, primarily due to a decline in digital goods transaction GMV[53]. - In the first half of 2022, the company achieved revenue of RMB 196,400 thousand and a profit of RMB 33,461 thousand, with adjusted profit attributable to the parent company at RMB 47,158 thousand[27]. - The revenue from the entertainment segment was RMB 109,634 thousand, while the gaming segment generated RMB 32,022 thousand, and the communication segment contributed RMB 13,778 thousand[200]. Segment Performance - The entertainment segment, which accounts for 55.8% of total revenue, achieved a year-on-year growth of 14.3%[14]. - The communication segment experienced a significant revenue decline of 69.9%[14]. - The GMV for the life services segment increased significantly by 134.5% year-on-year, while the entertainment segment saw a slight growth of 5.9%, and the gaming segment experienced a decline of 6.1%[27]. - The corporate welfare segment generated revenue of RMB 20,800 thousand, with a GMV of RMB 221,666 thousand and a gross margin of 84.2%[35]. Profitability - Gross profit for the first half of 2022 was RMB 148,110 thousand, with a gross margin of 75.4%, an increase of 3.0% year-on-year[10]. - Net profit attributable to the parent company was RMB 35,453 thousand, down 51.1% compared to the previous year[10]. - The total profit and comprehensive income decreased by 53.8% to RMB 33,461 thousand, while adjusted profit attributable to the parent company fell by 40.4% to RMB 47,158 thousand[16]. - Operating profit dropped to RMB 36,352 thousand in H1 2022 from RMB 76,120 thousand in H1 2021, reflecting increased costs and expenses[50]. Cash Flow and Financial Position - The net cash generated from operating activities in the first half of 2022 was RMB 107,960 thousand, indicating positive cash flow after the second half of 2021[16]. - Cash and cash equivalents as of June 30, 2022, amounted to RMB 267,974 thousand, compared to RMB 131,582 thousand at the end of 2021, reflecting an increase of 103.5%[103]. - The company reported a significant reduction in operating working capital, with a decrease in prepayments and other receivables by RMB 137,620 thousand[104]. - The total liabilities increased by 35.5% to RMB 289,183 thousand compared to the end of 2021[11]. Strategic Initiatives - The company emphasized the need for sustainable development and cost optimization in response to industry challenges[13]. - The company plans to leverage its supply chain management capabilities to introduce more competitive products in the live e-commerce sector in the second half of 2022[23]. - The strategy for international expansion includes providing localized products for global cross-border consumers, utilizing the overseas live streaming market[24]. - The company aims to replicate its successful domestic strategies in overseas markets through a self-developed supply chain integration platform[24]. Employee and Governance - As of June 30, 2022, the company had 1,036 full-time employees, all based in China[120]. - The company is committed to maintaining high standards of corporate governance and has adopted a corporate governance code[123]. - The audit committee, consisting of three independent non-executive directors, oversees financial reporting and internal control systems[126]. - The company has complied with all applicable provisions of the corporate governance code during the reporting period[124]. Market Environment - The overall market environment has led to a contraction in recruitment demand within the internet sector[13]. - The COVID-19 pandemic has accelerated the digital transformation of the economy, affecting consumer spending and overall market conditions[42]. Research and Development - Research and development costs increased by 47.6% from RMB 17,279 thousand to RMB 25,505 thousand, reflecting the company's strategic investment in SaaS applications and improvements in proprietary platform performance[85]. - The company added 10 new SaaS applications in the first half of 2022, bringing the total to 35, and expanded its supplier network by adding 205 suppliers and 2,431 buyers[41].

Financial Performance - Revenue for 2021 reached RMB 399.283 million, a 21.7% increase from RMB 328.210 million in 2020[10] - Gross profit for 2021 was RMB 295.244 million, up 13.4% from RMB 260.358 million in 2020[10] - Profit before tax decreased to RMB 75.197 million in 2021, down 38.5% from RMB 122.278 million in 2020[10] - Net profit for the year was RMB 68.222 million, a decline of 43.5% compared to RMB 120.898 million in 2020[10] - The adjusted net profit for 2021 was RMB 170 million, up 11.2% from RMB 153 million in 2020, while the net profit decreased by 43.6% to RMB 68 million due to share-based payment expenses of RMB 81 million[21] - Overall gross profit increased by 13.4% from RMB 260,358 thousand in 2020 to RMB 295,244 thousand in 2021, although the gross margin decreased from 79.3% to 73.9%[63] - Operating profit decreased from RMB 127,919 thousand in 2020 to RMB 75,857 thousand in 2021, indicating a decline in operational efficiency[75] - Net profit declined by 43.6% from RMB 120,898 thousand in 2020 to RMB 68,222 thousand in 2021, reflecting the overall financial challenges faced by the company[78] Assets and Liabilities - Total assets as of December 31, 2021, were RMB 1,377.308 million, slightly down from RMB 1,393.825 million in 2020[12] - Current assets increased to RMB 1,343.723 million in 2021, compared to RMB 1,227.986 million in 2020, reflecting a growth of 9.4%[12] - Total equity attributable to the company's owners rose to RMB 1,163.929 million in 2021, up from RMB 1,106.083 million in 2020[12] - The total debt as of December 31, 2021, was RMB 213,379 thousand, a decrease from RMB 287,742 thousand as of December 31, 2020[98] - Cash and cash equivalents at the end of 2021 were RMB 209,445 thousand, down from RMB 457,892 thousand at the end of 2020, representing a decrease of approximately 54.4%[91] - The total capital debt ratio is not applicable as it had no net debt, with cash and cash equivalents significantly exceeding interest-bearing borrowings[100] Revenue Segments - The company's GMV for 2021 was RMB 21.318 billion, a growth of 46.5% compared to RMB 14.553 billion in 2020[22] - The life services segment saw revenue growth of 68.9%, reaching RMB 41 million in 2021 from RMB 24 million in 2020[24] - The entertainment segment's revenue increased by 38.3% to RMB 216 million in 2021 from RMB 156 million in 2020[24] - The communication segment's revenue grew by 72.4% to RMB 81 million in 2021 from RMB 47 million in 2020[25] - The gaming segment's revenue decreased by 39.1% to RMB 62 million in 2021 from RMB 101 million in 2020 due to structural adjustments in response to national policies[25] - Revenue from digital goods-related services increased by 30.5% from RMB 254 million in 2020 to RMB 332 million in 2021[26] - Revenue from value-added services decreased by 8.6% from RMB 74 million in 2020 to RMB 68 million in 2021, with 86.0% of this revenue coming from online store operation services[26] Operational Highlights - The company achieved a net cash inflow from operations of RMB 106 million in the second half of 2021, reversing a trend of cash outflows over the previous two and a half years[21] - The company has established a partnership recruitment program to support clients with funding, market access, product development, training, technology, and after-sales service[17] - The company aims to connect digital goods providers with consumption scenarios, enhancing its revenue generation capabilities[143] - The company is focusing on expanding its business through new product development and market partnerships, particularly in mobile gaming and technology services[130][133] Employee and Management - The company employed 702 full-time employees, all based in China, and offers competitive compensation packages[106] - The management team has extensive experience in the IT industry, with key executives holding over 10 years of relevant experience[110][113][115] - The management team includes experienced professionals with backgrounds in finance, marketing, and technology, indicating a strong strategic direction[124][130] - The company has a dedicated team for technology strategy and research and development, led by a Chief Technology Officer with over 11 years of experience in the field[133] Strategic Initiatives - The company aims to leverage data insights to drive resource optimization and enhance brand operations and marketing growth[14] - The company plans to track the development of the metaverse and explore business opportunities related to NFT applications in 2022[31] - The company is actively pursuing B2B customer development and service expansion, indicating a strategic shift towards enterprise solutions[134] - The company has established an open platform division to enhance upstream supply chain collaboration and e-commerce strategies[136] Shareholder Information - As of December 31, 2021, Mr. Fu Xi holds a total of 164,916,850 shares, representing 40.89% of the issued share capital[185] - Major shareholders include FuXi Limited with 141,094,800 shares (34.98%) and Zhangyuguo Holdings with 45,999,600 shares (11.41%)[194] - The proposed final dividend for the year ended December 31, 2021, is HKD 0.176 per share, subject to shareholder approval[147] Environmental and Regulatory Compliance - The company emphasizes environmental protection and resource conservation, implementing various management measures to reduce carbon emissions[154] - The company has been compliant with relevant environmental laws and regulations, with no known violations during the reporting period[154] - The company is subject to various Chinese laws and regulations regarding foreign investment, which may impact its ability to utilize the proceeds from the listing[158]

Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 200.538 million, representing a 26.4% increase from RMB 158.650 million in the same period of 2020[14]. - Gross profit for the same period was RMB 145.235 million, up 9.4% from RMB 132.813 million year-over-year[14]. - Profit before tax was RMB 75.805 million, a slight increase of 1.6% compared to RMB 74.575 million in the previous year[14]. - Total comprehensive income for the period was RMB 72.462 million, which is a 1.7% increase from RMB 71.223 million in the prior year[14]. - Operating profit for the first half of 2021 was RMB 76,120 thousand, down from RMB 77,591 thousand in the same period of 2020[47]. - The net profit attributable to the parent company was RMB 72,462 thousand, slightly up from RMB 71,223 thousand in 2020, indicating a stable profit performance[175]. Asset and Liability Management - Current assets as of June 30, 2021, were RMB 1,237.790 million, showing a 0.8% increase from RMB 1,227.986 million at the end of 2020[15]. - Total assets decreased by 5.4% to RMB 1,318.450 million from RMB 1,393.825 million at the end of 2020[15]. - Total liabilities decreased by 14.6% to RMB 245.792 million from RMB 287.742 million at the end of 2020[15]. - Net assets attributable to equity holders of the parent company were RMB 1,072.658 million, down 3.0% from RMB 1,106.083 million at the end of 2020[15]. - Current liabilities decreased to RMB 244,120 thousand from RMB 285,931 thousand, improving the company's liquidity position[178]. Revenue Breakdown by Segment - The entertainment segment revenue was RMB 9,594.0 million, up 27.2% year-on-year, while the gross margin decreased from 89.0% to 79.0%[19]. - The gaming segment revenue fell to RMB 3,722.9 million, a decline of 35.9% year-on-year, with gross margin dropping from 85.3% to 65.2%[19]. - The telecommunications segment revenue surged to RMB 4,581.4 million, a year-on-year increase of 144.7%, with gross margin rising from 57.2% to 57.9%[19]. - The lifestyle services segment revenue reached RMB 2,155.5 million, a year-on-year increase of 234.7%, with gross margin improving from 84.3% to 86.8%[23]. - Value-added services revenue decreased to RMB 2,996.0 million, down 22.9% year-on-year, with the number of operational stores increasing by 23.5% to 105[24]. User Growth and Market Strategy - User growth for key applications included a 36.4% increase for "Batch Charging and Procurement" and a 377.4% increase for "Pusher" to 52,281 users[27]. - The company plans to introduce paid subscription services for some applications in the second half of 2021, anticipating significant user growth and market share expansion[27]. - The company aims to enhance user satisfaction by continuously attracting excellent R&D talent and innovating in application areas[42]. Research and Development - The number of employees increased by 106 in the first half of 2021, including 41 R&D personnel, bringing the R&D staff proportion to 27%[37]. - Research and development costs increased by 40.7% from RMB 12,281 thousand to RMB 17,279 thousand, indicating enhanced R&D efforts[92]. Cash Flow and Financing Activities - The net cash used in operating activities for the six months ended June 30, 2021, was RMB 229,794 thousand, a significant decrease from RMB 7,658 thousand in the same period of 2020[111]. - The net cash used in financing activities for the six months ended June 30, 2021, was RMB 94,352 thousand, primarily due to new bank borrowings of RMB 433,742 thousand and repayment of borrowings of RMB 505,614 thousand[117]. - The company reported a decrease in pledged deposits to RMB 85,000 thousand in 2021 from RMB 550 thousand in 2020, suggesting a reduction in secured financing[189]. Corporate Governance and Compliance - The company has adopted a corporate governance code and has complied with all applicable provisions during the reporting period[134]. - The audit committee, consisting of three independent non-executive directors, reviewed the financial reporting procedures and internal control systems[137]. Ownership and Shareholder Information - As of June 30, 2021, Mr. Fu Xi holds 178,445,100 shares, representing 44.61% of the company's issued share capital[155]. - The company has a significant concentration of ownership, with major shareholders holding substantial stakes, including FuXi Limited with 141,094,800 shares (35.27%) and Zhangyuguo Holdings with 45,999,600 shares (11.50%)[164]. - The company has a diversified ownership structure with multiple stakeholders, which may influence its strategic decisions and market positioning[164].

Financial Performance - Revenue for 2020 reached RMB 328.21 million, a significant increase from RMB 241.92 million in 2019, representing a growth of approximately 35.6%[10] - Gross profit for 2020 was RMB 260.36 million, up from RMB 193.52 million in 2019, indicating a growth of about 34.5%[10] - The company reported a net profit of RMB 120.90 million for 2020, compared to RMB 80.62 million in 2019, reflecting an increase of approximately 50%[10] - Non-IFRS adjusted net profit for 2020 was RMB 153.21 million, compared to RMB 106.06 million in 2019, indicating a growth of approximately 44.4%[10] - The company's audited net profit attributable to equity holders for the year ended December 31, 2020, was RMB 120.9 million, an increase of 50% compared to the previous year[19] - Operating profit for 2020 was RMB 127,919 thousand, up from RMB 93,292 thousand in 2019[66] - Profit before tax increased by 43% from RMB 85,344 thousand in 2019 to RMB 122,278 thousand in 2020[67] - Adjusted profit for the year ended December 31, 2020, was RMB 153,209 thousand, an increase of 44.4% from RMB 106,060 thousand in 2019[73] Assets and Liabilities - Total assets as of December 31, 2020, amounted to RMB 1.39 billion, a substantial rise from RMB 484.53 million in 2019, marking an increase of around 187%[13] - Total liabilities rose from RMB 231 million as of December 31, 2019, to RMB 288 million as of December 31, 2020[76] - Cash and cash equivalents at the end of 2020 were RMB 457,892 thousand, up from RMB 8,983 thousand at the end of 2019[78] - Total debt increased to RMB 287,742 thousand as of December 31, 2020, from RMB 230,769 thousand as of December 31, 2019[85] - As of December 31, 2020, the company had no net debt, as cash and cash equivalents significantly exceeded interest-bearing borrowings[87] Revenue Breakdown by Segment - The company's GMV for 2020 reached RMB 14,553 million, representing a growth of 13.56% from RMB 12,815 million in 2019[21] - Revenue from the entertainment segment increased by 19% to RMB 155.95 million in 2020, up from RMB 130.52 million in 2019[21] - The gaming segment's revenue rose by 8% to RMB 100.98 million in 2020, with a gross margin improvement from 70% to 82%[21] - The communication segment's revenue surged by 201% to RMB 47.12 million in 2020, driven by increased downstream consumption scenarios[21] - The lifestyle services segment saw a remarkable revenue increase of 929% to RMB 24.16 million in 2020, with gross margin rising from 64% to 93%[22] - Revenue from the value-added services segment grew by 234% to RMB 67.64 million in 2020, accounting for 21% of total revenue[23] Employee and Management - The average age of employees is 29 years, with 25% of the workforce dedicated to research and development, highlighting the company's focus on innovation[16] - The company has a competitive compensation package for employees, including base salary, variable pay, bonuses, and other benefits[92] - The company had 494 full-time employees as of December 31, 2020, all based in China[92] - The company has established a compensation committee to review its compensation policies, ensuring competitive remuneration to attract and retain qualified talent[173] Business Strategy and Market Presence - The company has adopted a unique business model by reducing the initial subscription fee for SaaS software to zero, aiming to lower entry barriers for early customers[16] - The company plans to expand its platform coverage and introduce more digital rights products in 2021, while also focusing on new technologies like blockchain[27] - The company is focused on expanding its business through new product development and strategic partnerships, particularly in the gaming and technology sectors[116][120] - The company has a clear strategy for market expansion, focusing on both domestic and international opportunities in the gaming industry[116][120] Compliance and Governance - The company is committed to maintaining strong governance and compliance standards, as evidenced by the composition of its board of directors[112][113] - The company emphasizes compliance with environmental laws and regulations, ensuring no known violations during the reporting period[132] - The company has complied with applicable laws and regulations in China without any significant non-compliance events[190] Investment and Financing - The company was listed on the Hong Kong Stock Exchange on September 18, 2020, with an offering price of HKD 8.90 per share, raising a total of HKD 890 million from the global offering of 100,000,000 shares[124] - The net proceeds from the IPO amounted to approximately HKD 803.42 million, with specific allocations for various business initiatives outlined[135] - Approximately 30% of the net proceeds (HKD 241.03 million) is allocated to facilitate digital goods transactions and increase the variety of transactions[135] Customer and Supplier Concentration - The company's five largest customers accounted for approximately 54.4% of total revenue for the year ended December 31, 2020, down from 64.5% in 2019, with the largest customer contributing about 18.0% of total revenue[153] - The company's five largest suppliers represented about 52.2% of total purchases for the year ended December 31, 2020, slightly up from 51.9% in 2019, with the largest supplier accounting for approximately 30.0% of total purchases[154]

Financial Performance - Total revenue increased by 30.2% to RMB 158.65 million for the six months ended June 30, 2020, compared to RMB 121.83 million in the same period of 2019[35]. - Adjusted net profit surged by 55.5% to RMB 80.82 million, compared to RMB 51.97 million in the first half of 2019[35]. - Gross profit rose by 38.5% to RMB 132.81 million, with a gross margin of 83.71%, up from 78.74% in the previous year[35]. - Revenue increased by 30.2% from RMB 121,829,000 in H1 2019 to RMB 158,650,000 in H1 2020, driven by increased transaction GMV from online stores[53]. - Profit for the period increased by 37.0% from RMB 51,974,000 to RMB 71,223,000[96]. - Basic and diluted earnings per share increased to RMB 0.24 from RMB 0.17, representing a 41.2% increase[151]. - The revenue from the entertainment segment increased by 21.4% to RMB 75,403,000 for the six months ended June 30, 2020, compared to RMB 62,124,000 for the same period in 2019, driven by an increase in facilitated virtual goods transactions[66]. - The revenue from the gaming segment increased by 19.0% to RMB 58,088,000 for the six months ended June 30, 2020[62]. Asset and Liability Management - Current assets increased by 15.2% to RMB 540.17 million, while total assets rose by 14.4% to RMB 554.31 million[36]. - Total liabilities decreased slightly by 0.6% to RMB 229.32 million, with current liabilities remaining stable[36]. - Net assets attributable to equity holders increased by 28.1% to RMB 324.99 million[36]. - As of June 30, 2020, the total debt amounted to RMB 72,411,000, an increase from RMB 64,127,000 as of December 31, 2019[112]. - The debt-to-equity ratio as of June 30, 2020, was approximately 17%[119]. Operational Highlights - The platform facilitated transactions for over 976 virtual goods providers and 1,616 virtual goods consumption scenarios during the reporting period[41]. - The GMV for entertainment-related virtual goods transactions reached RMB 991.71 million[41]. - GMV for game-related virtual goods transactions totaled RMB 1,106.83 million during the reporting period[42]. - The GMV for communication-related virtual goods transactions reached RMB 5,198,231,000 during the reporting period[46]. - The GMV for life services-related virtual goods transactions totaled RMB 237,892,000[47]. Expenses and Cost Management - Total sales cost for the six months ended June 30, 2020, was RMB 25,837,000, slightly down from RMB 25,904,000 for the same period in 2019[70]. - Commission costs decreased by 9.9% to RMB 14,401,000 for the six months ended June 30, 2020, primarily due to a restructuring of product offerings[75]. - Sales and marketing expenses increased by 54.8% from RMB 16,461,000 to RMB 25,488,000, driven by higher advertising costs on e-commerce platforms[89]. - Administrative expenses surged by 97.6% from RMB 11,038,000 to RMB 21,813,000, mainly due to expenses related to the initial public offering[90]. - Research and development costs grew by 38.5% from RMB 8,869,000 to RMB 12,281,000, reflecting enhanced R&D efforts[91]. Strategic Initiatives - The company plans to expand its virtual goods offerings and enhance IT solutions to strengthen its market position and brand recognition[48]. - The company aims to pursue strategic partnerships, investments, and acquisitions to solidify its leadership position in the industry[48]. - The company aims to expand its market presence and enhance its service offerings in the virtual goods trading sector, leveraging its existing customer base and technological capabilities[167]. Shareholder Information - The company successfully listed on the main board of the Stock Exchange on September 18, 2020, enhancing its capital strength and brand recognition[38]. - The company did not declare any interim dividends for the six months ended June 30, 2020[121]. - The company reported a decrease in finance costs to RMB 3,016 thousand from RMB 4,121 thousand, a reduction of 26.9%[151]. - The company paid dividends of RMB 15,000 thousand during the period, an increase from RMB 9,362 thousand in the same period last year, reflecting a commitment to shareholder returns[164]. Employee and Corporate Governance - The company had 453 full-time employees as of June 30, 2020, all based in China[123]. - The company has not been involved in any significant litigation or arbitration during the reporting period[149]. - The company reported no significant investments as of June 30, 2020[115].