Tat Hong Equipment Service Co., Ltd. 2153 提名委員會－職權範圍 於2020年12月15日經本公司董事會（「董事會」）批准並於2025年8月12日修訂。 倘存在上述利益，任何有關成員須放棄對委員會決議案投票，亦不得參與有關決議 案的討論，並須（如董事會有此要求）辭任委員會的職位。 1. 成員 1.1 提名委員會（「委員會」）須由董事會不時委任的最少三名董事組成。委員會大部 分成員須為本公司獨立非執行董事及包括至少一名不同性別的成員。 1.2 委員會主席須由董事會委任，並須為董事會主席或本公司獨立非執行董事。 1.3 委員會成員之任期應由董事會釐定。董事會可撤回委員會成員的委任。倘委員 會成員不再為董事會的成員，該成員的委任將自動撤銷。 1.4 除獲委員會另行委任者外，公司秘書為委員會秘書，倘公司秘書缺席，則由委 員會一名成員或其代名人擔任委員會秘書。 1.5 各成員須向委員會披露以下資料： (i) 於將由委員會決定的任何事宜中擁有任何個人財務利益（作為本公司股東 除外）；或 (ii) 因董事擔任多家公司的董事而引致任何潛在利益衝突。 2. 會議次數及議事程序 除非下文另 ...

智通财经APP讯，达丰设备(02153)公布，郭金君先生因工作调动已辞任非执行董事，自2025年8 月12日 起生效。 同日起，独立非执行董事潘宜珊女士已获委任为公司提名委员会成员。 王东杰先生已获委任为非执行董事，自2025年8月12 日起生效。 ...

Tat Hong Equipment Service Co., Ltd. 2153 董事會名單與角色和職能 由2025年8月12日起，達豐設備服務有限公司董事會（「董事會」）成員列載如下： 執行董事 邱國燊先生 （行政總裁） 林翰威先生 （運營總監） 非執行董事 黃山忠先生 （主席） 孫兆林先生 劉鑫先生 王東傑先生 獨立非執行董事 潘宜珊女士 尹金濤先生 黃兆仁博士 董事會已設立審核委員會、薪酬委員會及提名委員會（「董事委員會」）。下表列示若幹董 事會成員於該等董事委員會中所擔任的職位： | | | 董事委員會 | | | --- | --- | --- | --- | | 董事 | 審核委員會 | 薪酬委員會 | 提名委員會 | | 邱國燊先生 | – | – | – | | 林翰威先生 | – | – | – | | 黃山忠先生 | – | – | C | | 孫兆林先生 | – | – | – | | 劉鑫先生 | – | – | – | | 王東傑先生 | – | – | – | | 潘宜珊女士 | C | M | M | | 尹金濤先生 | M | C | M | | 黃兆仁博士 | M | M ...

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之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 達豐設備服務有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」）會 （「董事會」）宣佈，郭金君先生（「郭先生」）因工作調動已辭任非執行董事，自2025年8 月12日起生效。 Tat Hong Equipment Service Co., Ltd. 2153 (1)更換非執行董事；及 (2)提名委員會組成的變更 下文為根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）第13.51(2)條 的規定。 (1) 更換非執行董事 非執行董事辭任 郭先生確認彼與董事會及本公司並無任何意見分歧，亦無任何有關彼辭任而需要提 請聯交所或本公司股東（「股東」）注意之事項。 委任非執行董事 董事會亦欣然宣佈，王東傑先生（「王先生」）已獲委任為非執行董事，自2025年8月12 日起生效。 王先生的履歷如下： 王先生，53歲，於中國建築工程行業擁有逾30年經驗，其中包括中國核工業華興建 設有限公 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 達豐設備服務有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02153 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,875,000,000 | USD | | 0.08 USD | | 150,000,000 | | 增加 / 減少 (-) | | | 0 | | | USD | | 0 | | 本月底結存 | | | 1,875,000,000 | USD | | 0.08 USD | | 150,000,000 | ...

Financial Performance - The group's revenue decreased by approximately 7.0% from RMB 682.3 million for the year ended March 31, 2024, to RMB 634.6 million for the year ended March 31, 2025[12]. - Gross profit fell by about 12.0% from RMB 80.8 million to RMB 71.1 million, attributed to economic slowdown and a downturn in the construction industry[12]. - The net loss increased by RMB 24.8 million or 26.0%, resulting in a total net loss of RMB 120.5 million for the year ended March 31, 2025[12]. - Revenue decreased by approximately 7.0% to RMB 634.6 million for the year ending March 31, 2025, down from RMB 682.3 million for the year ending March 31, 2024, primarily due to a reduction in total tonnage usage[23]. - The overall gross profit decreased by approximately 12.0% to RMB 71.1 million for the year ending March 31, 2025, with a gross profit margin declining from approximately 11.8% to 11.2%[25]. - The company recorded a net loss of approximately RMB 120.5 million for the year ending March 31, 2025, an increase of about 26.0% compared to a net loss of approximately RMB 95.6 million for the year ending March 31, 2024[21][33]. Project and Operations - As of March 31, 2025, the group had 256 ongoing projects with a total contract value of approximately RMB 721.3 million and 38 projects on hand with an estimated contract value of RMB 78.7 million[12]. - The group managed a total of 1,180 tower cranes to meet the demand for professional EPC projects across China during the fiscal year[20]. - The average monthly service price per ton for tower cranes decreased from RMB 215 to RMB 202, reflecting market pressures[12]. - The group is focusing on clean energy projects and international market expansion as dual core growth engines for future development[14]. - The group is actively optimizing its business structure and reducing reliance on the real estate sector in response to market conditions[13][19]. Research and Development - The group holds 187 registered patents related to tower crane technology as of March 31, 2025, enhancing its competitive edge in project bidding[15][20]. - Research and development expenses decreased from approximately RMB 19.4 million to RMB 15.4 million for the year ending March 31, 2025, primarily due to a reduction in patent development projects[27]. - The group is investing in digital management platforms and new tower crane technology solutions to enhance service delivery capabilities[20]. Financial Management - Other income increased by approximately RMB 1.1 million or 38.9% to RMB 3.9 million for the year ending March 31, 2025, mainly due to management fees from Indonesian clients[26]. - Financing costs decreased by approximately RMB 2.2 million or 3.4% to RMB 62.3 million for the year ending March 31, 2025, mainly due to a decline in interest rates[31]. - The current ratio as of March 31, 2025, was 1.12, down from 1.44 as of March 31, 2024, indicating a decrease in liquidity[36]. - Lease liabilities increased by approximately 67.8% to about RMB 141.7 million as of March 31, 2025, primarily due to an increase in financing leases for tower cranes[41]. - The company has implemented measures to recover aged receivables, including negotiating repayment plans and legal collection actions[50]. - The company provides flexible payment options to clients, such as accepting various types of notes to ease immediate cash payment pressure[53]. - The company’s credit risk management involves monitoring trade receivables on a project-by-project basis and accelerating collections through operational adjustments[50]. Corporate Governance - The company emphasizes maintaining high standards of corporate governance to ensure the integrity and transparency of information disclosure[92]. - The company emphasizes its core values of "Integrity," "Safety," and "Excellence" to ensure sustainable operations and customer trust[93]. - The board of directors is committed to maintaining robust corporate governance practices, ensuring accountability and effective management[95]. - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions up to the report date[96]. - The board consists of nine members, including two executive directors, four non-executive directors, and three independent non-executive directors, ensuring a balanced composition[100]. - Independent non-executive directors have confirmed their independence according to listing rules, ensuring unbiased decision-making[101]. - The company has established mechanisms to ensure independent viewpoints are provided to the board, enhancing governance quality[104]. - All directors participated in continuous professional development to maintain their knowledge and skills relevant to their responsibilities[106]. Human Resources - As of March 31, 2025, the group employed approximately 677 employees, a decrease of 7.5% from 732 employees as of March 31, 2024[49]. - Total employee benefits expenditure for the year ended March 31, 2025, was RMB 782 million, a reduction of 11.7% compared to the previous year[49]. - The company is committed to maintaining gender diversity in hiring senior staff to ensure a diverse board composition in the future[109]. - The board of directors has adopted a diversity policy, considering factors such as gender, age, cultural background, and professional experience to enhance business development and board performance[108]. Related Party Transactions - For the fiscal year ending March 31, 2025, the company reported a total transaction amount of RMB 20.5 million under the ongoing related party transactions with Yongmao Group[192]. - The maximum annual limit for the ongoing related party transactions with Yongmao Group is set at RMB 100 million for the fiscal year ending March 31, 2025[192]. - The company has entered into a continuous related party transaction agreement with Yongmao Group, which includes procurement and leasing of tower cranes and related components[192]. - The company has confirmed that all independent non-executive directors have reviewed the ongoing related party transactions, ensuring they are conducted in the ordinary course of business and on fair terms[194]. Risk Management and Compliance - The company has implemented a risk management system to identify and mitigate significant risks related to its business strategy and operations[136]. - The internal control system aims to provide reasonable assurance against material misstatements or losses, ensuring effective and efficient operations[137]. - The company has established an internal anti-corruption policy to prevent bribery and corruption among directors and employees[139]. - The board has adopted a whistleblowing policy to allow employees and third parties to report concerns confidentially without fear of retaliation[140]. - The internal audit department regularly monitors key controls and procedures to ensure the internal control system operates as planned[141]. - The board has conducted a comprehensive review of the risk management and internal control systems, finding them effective and adequate[142]. - The company has established procedures to handle and communicate insider information to maintain confidentiality[143]. Shareholder Information - The company reported a total distributable reserve of approximately RMB 418.9 million as of March 31, 2025, down from RMB 462.4 million as of March 31, 2024[170]. - The board has decided not to declare a final dividend for the year ending March 31, 2025, consistent with the previous year[159]. - The company held its annual general meeting on September 26, 2025, to provide shareholders with an opportunity to communicate with the board[160]. - The company’s main contact for shareholder inquiries is the executive director, Mr. Qiu Guoshan[145]. - The company’s website provides comprehensive and accessible information for shareholders and investors regarding its latest developments[146].

Financial Performance - The company's revenue for the year ended March 31, 2025, was RMB 634.6 million, a decrease of RMB 47.7 million or 7.0% compared to the previous year[3]. - The loss attributable to equity holders for the year ended March 31, 2025, was RMB 120.5 million, an increase of RMB 24.8 million or 26.0% from the previous year[3]. - Basic loss per share for the year ended March 31, 2025, was RMB 0.10, up from RMB 0.08 in the previous year[3]. - The company recorded a net operating loss of RMB 45.2 million for the year ended March 31, 2025, compared to a loss of RMB 41.8 million in the previous year[6]. - The company recorded a net loss of approximately RMB 120.5 million for the fiscal year ending March 31, 2025, an increase of about 26.0% compared to a net loss of RMB 95.6 million for the previous fiscal year[38]. - Revenue decreased by approximately 7.0% to RMB 634.6 million for the fiscal year ending March 31, 2025, down from RMB 682.3 million for the previous year[40]. - The company’s gross profit decreased by approximately 12.0% to RMB 71.1 million, with a gross profit margin declining from about 11.8% to 11.2%[42]. Assets and Liabilities - Total assets as of March 31, 2025, amounted to RMB 3,107.2 million, compared to RMB 3,078.0 million as of March 31, 2024[8]. - Total liabilities as of March 31, 2025, were RMB 1,804.8 million, an increase from RMB 1,656.5 million in the previous year[8]. - Non-current assets totaled RMB 1,875.7 million as of March 31, 2025, compared to RMB 1,779.8 million in the previous year[7]. - The total borrowings of the company as of March 31, 2025, amounted to RMB 1,122,625,000, slightly up from RMB 1,095,881,000 in 2024[31]. - The company has trade payables of RMB 317,669,000 as of March 31, 2025, an increase from RMB 290,801,000 in 2024[33]. - As of March 31, 2025, the company's bank and cash balance is approximately RMB 146 million, while total outstanding borrowings amount to RMB 1,108 million, with RMB 602 million due within one year[10]. Dividends and Shareholder Returns - The board of directors has decided not to recommend a final dividend for the year ended March 31, 2025[4]. - The company did not declare or recommend any dividends during the year[23]. - The board has decided not to recommend the payment of a final dividend for the year ended March 31, 2025[58]. Operational Efficiency - Research and development expenses for the year ended March 31, 2025, were RMB 15.4 million, down from RMB 19.4 million in the previous year[6]. - The company aims to accelerate the collection of trade receivables and actively monitor and control operating costs[11]. - The company plans to optimize its customer base and focus on infrastructure and nuclear power projects to enhance overall operating cash flow[10]. - The average service price per ton-meter for tower cranes decreased from RMB 215 to RMB 202, contributing to the revenue decline[40]. - Employee benefit expenses decreased to RMB 78,166,000 in 2025 from RMB 88,517,000 in 2024, indicating a reduction in overall employee costs[22]. - Employee benefit expenses totaled RMB 78.2 million for the year ended March 31, 2025, a decrease of 11.7% compared to RMB 88.5 million for the year ended March 31, 2024, mainly due to a reduction in the number of employees[61]. Financing and Borrowings - The company has committed and undrawn short-term borrowings of approximately RMB 76 million and long-term borrowings of RMB 60 million to meet operational and capital investment needs[10]. - The company expects to successfully arrange sufficient borrowing financing to meet its business and capital investment requirements[10]. - The company has secured bank borrowings of RMB 413,609,000 and unsecured borrowings of RMB 32,686,000 as of March 31, 2025[31]. - The company’s financing costs decreased by approximately 3.4% to RMB 62.3 million, attributed to a reduction in interest rates during the year[47]. Market and Strategic Focus - The company plans to focus on clean energy construction and expand its geographical reach to the Greater Bay Area and Indonesia in response to current market conditions[39]. - The company managed a total of 1,180 tower cranes to meet the demand for EPC projects across China during the fiscal year[37]. Governance and Compliance - The group has established an audit committee to review and supervise the financial reporting process and internal audit functions[69]. - The annual performance announcement has been published on the Hong Kong Stock Exchange website and the company's website[71]. - The annual report for the year ending March 31, 2025, contains all relevant information as required by listing rules[71]. - The board of directors includes both executive and non-executive members, ensuring a diverse governance structure[71]. Employment and Workforce - As of March 31, 2025, the group employed approximately 677 employees, a decrease from 732 employees in 2024[61].

Financial Performance - Revenue for the six months ended September 30, 2024, was RMB 340,904 thousand, an increase of 5.5% compared to RMB 358,629 thousand in the same period of 2023[8]. - Gross profit decreased to RMB 48,009 thousand, down 24.7% from RMB 63,788 thousand year-on-year[9]. - Operating loss for the period was RMB 5,644 thousand, compared to an operating profit of RMB 4,506 thousand in the previous year[11]. - Net loss for the period was RMB 36,203 thousand, compared to a net loss of RMB 20,436 thousand in the same period last year, representing a 77.2% increase in losses[15]. - The company reported a basic and diluted loss per share of RMB 0.03, compared to RMB 0.02 in the same period last year[20]. - The company experienced a total comprehensive loss of RMB 21,000 thousand for the six months ended September 30, 2024, compared to a loss of RMB 36,829 thousand in the previous period[32]. - The company reported a loss attributable to owners of RMB 36,203,000 for the six months ended September 30, 2024, compared to a loss of RMB 20,436,000 for the same period in 2023, representing an increase of 77.2%[95]. - Revenue decreased to RMB 340.9 million for the six months ended September 30, 2024, a decline of approximately 4.9% from RMB 358.5 million for the same period in 2023[182]. - The overall gross profit decreased by approximately 24.7% to RMB 48.0 million, with the gross profit margin dropping from 17.8% to 14.1%[184]. - Other income fell to approximately RMB 0.8 million, a decrease of about 46.3% from RMB 1.5 million in the previous year, primarily due to reduced government subsidies[185]. Assets and Liabilities - Total assets as of September 30, 2024, amounted to RMB 3,218,158 thousand, up from RMB 3,077,961 thousand as of March 31, 2024, reflecting a growth of 4.6%[26]. - Current assets increased to RMB 1,417,071 thousand from RMB 1,298,198 thousand, marking a rise of 9.2%[26]. - Total liabilities increased to RMB 1,833,562 thousand as of September 30, 2024, up from RMB 1,656,536 thousand as of March 31, 2024, representing an increase of approximately 10.7%[30]. - Current liabilities rose to RMB 1,070,128 thousand, compared to RMB 903,114 thousand in the previous period, marking an increase of about 18.5%[30]. - Non-current liabilities totaled RMB 763,434 thousand, slightly up from RMB 753,422 thousand, indicating a growth of approximately 1.5%[30]. - The company’s total equity stood at RMB 1,384,596 thousand as of September 30, 2024, down from RMB 1,421,425 thousand, indicating a decrease of about 2.6%[30]. - The company’s total lease liabilities were RMB 107,241,000 as of September 30, 2024, compared to RMB 84,444,000 as of March 31, 2024[101]. - The company’s net book value of properties, plant, and equipment was RMB 1,514,345,000 as of September 30, 2024, reflecting a decrease from RMB 1,570,731,000 as of March 31, 2024[98]. - The carrying value of right-of-use assets for machinery was RMB 54,644,000 as of September 30, 2024, down from RMB 56,955,000 as of March 31, 2024[101]. Cash Flow and Financing - The company reported a net cash inflow from operating activities of RMB 84,283 thousand for the six months ended September 30, 2024, compared to RMB 86,183 thousand in the same period last year[37]. - Cash and cash equivalents at the end of the period increased to RMB 174,837 thousand, up from RMB 148,049 thousand, reflecting a growth of about 18.1%[37]. - The company reported a net cash outflow from investing activities of RMB 118,454 thousand, compared to RMB 184,769 thousand in the previous period, showing an improvement of approximately 36%[37]. - The company reported a net financing cost of RMB 32,609,000 for the six months ended September 30, 2024, compared to RMB 30,440,000 in the previous year[89]. - The financing costs for the six months ended September 30, 2024, total RMB 32,957,000, an increase from RMB 30,971,000 in the previous year[89]. Credit and Risk Management - The group faces various financial risks, including market risk (foreign exchange and interest rate risks), credit risk, and liquidity risk[48]. - The credit risk related to cash and cash equivalents, financial assets measured at fair value, and trade and other receivables is managed by the management of individual business units[50]. - The group uses a simplified approach to measure expected credit losses for trade receivables, applying lifetime expected loss provisions[53]. - The expected loss rate is determined based on sales payment history over the past 60 months, adjusted for macroeconomic factors[54]. - The group has identified the credit default swap spread of 5-year Chinese government bonds as a relevant factor for adjusting historical loss rates[54]. - The company has maintained a low credit risk for financial assets measured at fair value, indicating strong issuer capability to meet cash flow obligations[62]. - The company’s financial risk management strategies include monitoring credit risk and adjusting provisions based on the expected credit loss model[62]. Market and Strategic Initiatives - The company continues to explore market expansion opportunities and new product development strategies to enhance future performance[19]. - The company has established a clean energy division in 2023 to focus on expanding and operating clean energy-related businesses[177]. - The company has successfully formed a joint venture in Indonesia, enhancing its presence in the overseas market[178]. Related Party Transactions - The company reported related party transactions, including RMB 6.616 million for machinery and consumables purchased from a related party during the six months ended September 30, 2024[165]. - Short-term lease expenses from related parties totaled RMB 1.670 million for the six months ended September 30, 2024, compared to RMB 5.017 million in the previous year[165]. - Related party income increased to RMB 946 thousand in the six months ended September 30, 2024, from RMB 221 thousand in the previous year[165]. - The company’s trade receivables from related parties amounted to RMB 12.307 million as of September 30, 2024, up from RMB 7.350 million[168]. Accounting Policies and Standards - The group has adopted a new accounting policy under Hong Kong Accounting Standard No. 1 (Revised), which classifies borrowings as current liabilities unless the repayment date can be postponed for at least 12 months after the reporting period[44]. - There have been no changes to the accounting policies or retrospective adjustments due to the adoption of other revised standards or interpretations[45]. - The group anticipates that the amendments to Hong Kong Accounting Standard No. 21, effective from January 1, 2025, will not have a significant impact on the consolidated financial statements[46]. - The group is currently evaluating the impact of Hong Kong Financial Reporting Standard No. 18, which introduces significant changes to the presentation of financial performance data in the income statement, effective from January 1, 2027[46].

Financial Performance - For the six months ended September 30, 2024, the group recorded revenue of approximately RMB 340.9 million, a decrease of about RMB 17.7 million or approximately 4.9% compared to the same period last year[2]. - The loss attributable to the company's owners for the six months ended September 30, 2024, was approximately RMB 36.2 million, an increase of about RMB 15.8 million or approximately 77.2% compared to the same period last year[2]. - The basic loss per share for the six months ended September 30, 2024, was RMB 0.03, an increase of RMB 0.01 compared to RMB 0.02 for the same period in 2023[2]. - The group's gross profit for the six months ended September 30, 2024, was RMB 48.0 million, down from RMB 63.8 million in the same period last year[5]. - The company reported a net loss of RMB 36.8 million for the period, compared to a net loss of RMB 21.0 million in the same period last year[11]. - The group reported unaudited revenue of RMB 340,904,000 for the six months ended September 30, 2024, a decrease of 5% compared to RMB 358,629,000 for the same period in 2023[22]. - The operating lease revenue was RMB 137,962,000, down from RMB 141,664,000, while crane services revenue decreased to RMB 188,880,000 from RMB 210,019,000[22]. - Gross profit decreased by approximately 24.7% to RMB 48.0 million for the six months ended September 30, 2024, with a gross profit margin dropping from 17.8% to 14.1%[57]. Assets and Liabilities - Total assets as of September 30, 2024, amounted to RMB 3,218.2 million, an increase from RMB 3,077.9 million as of March 31, 2024[7]. - Total liabilities as of September 30, 2024, were RMB 1,833.6 million, compared to RMB 1,656.5 million as of March 31, 2024[9]. - The company's cash and cash equivalents as of September 30, 2024, were RMB 174.8 million, an increase from RMB 138.9 million as of March 31, 2024[7]. - The total contract assets amounted to RMB 218,458,000 as of September 30, 2024, compared to RMB 259,855,000 as of March 31, 2024, reflecting a decrease of approximately 16%[20]. - As of September 30, 2024, the total borrowings amounted to RMB 1,180,253,000, an increase of 7.7% from RMB 1,095,881,000 as of March 31, 2024[43]. - The total trade payables and notes payable increased to RMB 394,648,000 as of September 30, 2024, compared to RMB 327,771,000 as of March 31, 2024, marking a rise of 20.4%[46]. Cash Flow and Financing - Financing costs totaled RMB 32,957,000 for the six months ended September 30, 2024, an increase of 6.4% from RMB 30,971,000 in the same period of 2023[23]. - The weighted average effective interest rates for borrowings in RMB decreased slightly to 4.9% as of September 30, 2024, from 5.0% as of March 31, 2024[45]. - The company issued multi-currency commercial paper under the SDAX financing program on October 9, 2024, with a maturity of approximately three months and an interest rate of 5.4%[82]. Dividends and Shareholder Returns - The group did not recommend the payment of an interim dividend for the six months ended September 30, 2024[2]. - The group did not recommend any dividend payment for the six months ended September 30, 2024, consistent with the previous year[27]. - No dividend payment is recommended for the six months ending September 30, 2024, consistent with 2023[76]. Employee and Operational Metrics - The total employee benefits expenditure for the six months ending September 30, 2024, was RMB 40.6 million, a decrease of 13.2% compared to the same period in 2023, primarily due to a reduction in employee numbers[80]. - The company employed a total of 691 employees as of September 30, 2024, down from 1,069 employees as of September 30, 2023[80]. - The company managed a total of 1,193 tower cranes as of September 30, 2024, making it the second-largest tower crane fleet in China's market[51]. Market and Competitive Landscape - The average service price per ton-meter for tower cranes decreased from RMB 225 to RMB 208, impacting the group's revenue[2]. - The average monthly service price per ton-meter for tower cranes decreased from RMB 225 to RMB 208, impacting the company's revenue[52][55]. - The company is actively shifting towards thermal power and nuclear power projects in response to the slow recovery of the domestic construction industry[50]. - The average effective tax rate for the six months ended September 30, 2024, was estimated at 5.3%, significantly lower than 21.3% for the same period in 2023[26]. Accounting and Reporting - The group has not made any retrospective adjustments due to the adoption of revised accounting standards, maintaining consistency in accounting policies[15]. - The group is currently evaluating the impact of the new Hong Kong Financial Reporting Standard No. 18 on the presentation and disclosure of financial performance in its financial statements[17]. - The audit committee reviewed the unaudited interim financial results for the six months ending September 30, 2024, and found no disagreements regarding the accounting principles and practices used[87]. - The interim results announcement for the six months ending September 30, 2024, has been published on the Hong Kong Stock Exchange website and the company's website[88].

Financial Performance - Revenue decreased by 11.5% from RMB 770.8 million in FY2023 to RMB 682.3 million in FY2024, primarily due to a decrease in total ton-meters used and a drop in average monthly service price per ton-meter[25][40] - Gross profit decreased by 53.4% from RMB 173.2 million in FY2023 to RMB 80.8 million in FY2024, with gross margin dropping from 22.5% to 11.8%[15] - The company recorded a net loss of approximately RMB 95.6 million for the fiscal year ending March 31, 2024, a 167.0% increase compared to the net loss of RMB 35.8 million in the previous fiscal year[60][66] - The company's gross profit decreased by 53.4% from RMB 173.2 million in the fiscal year ending March 31, 2023, to RMB 80.8 million in the fiscal year ending March 31, 2024[74] - The company's total ton-meters used decreased from 3,192,710 in the fiscal year ending March 31, 2023, to 3,178,404 in the fiscal year ending March 31, 2024[60] - The average monthly service price per ton-meter for tower cranes decreased from RMB 241 to RMB 215[60] - The company's other income decreased by 60.8% from RMB 7.1 million in the fiscal year ending March 31, 2023, to RMB 2.8 million in the fiscal year ending March 31, 2024[63] - The company's income tax credit increased by 640.1% from RMB 1.3 million in the fiscal year ending March 31, 2023, to RMB 9.8 million in the fiscal year ending March 31, 2024[65] - The company's gearing ratio increased from 70.3% as of March 31, 2023, to 83.0% as of March 31, 2024, primarily due to increased borrowings[67] - The company's lease liabilities decreased by 1.4% from RMB 85.7 million as of March 31, 2023, to RMB 84.4 million as of March 31, 2024[68] - The company's contracted but not yet provided property, plant, and equipment decreased by RMB 16.0 million from RMB 19.1 million as of March 31, 2023, to RMB 3.1 million as of March 31, 2024[47] - R&D expenses decreased from RMB 29.7 million in the fiscal year ending March 31, 2023, to RMB 19.4 million in the fiscal year ending March 31, 2024, primarily due to reduced patent development efforts[82] - The company's bank borrowings were secured by receivables with a book value of approximately RMB 233.1 million as of March 31, 2024, compared to RMB 180.0 million in 2023[86] - The company reported a net cash inflow from operating activities of RMB 90.67 million for the fiscal year ending March 31, 2024, down from RMB 231.58 million in the previous fiscal year[92] - Net cash outflow from investing activities was RMB 158.58 million for the fiscal year ending March 31, 2024, compared to RMB 464.23 million in the previous fiscal year[92] - The company's total equity decreased from RMB 1,517.62 million as of March 31, 2023, to RMB 1,421.43 million as of March 31, 2024, due to annual losses and other comprehensive income adjustments[91] - The company's cash and cash equivalents decreased by RMB 16.58 million to RMB 138.94 million as of March 31, 2024, compared to RMB 155.55 million at the beginning of the year[92] - The company did not recommend the payment of a final dividend for the fiscal year ending March 31, 2024[123] Cash and Liquidity - Cash and cash equivalents plus restricted cash decreased by RMB 19.7 million to RMB 139.3 million as of March 31, 2024[19] - Net current assets increased by RMB 11.5 million to RMB 395.1 million as of March 31, 2024, mainly due to an increase in trade receivables[34] - The company's current ratio remained stable at 1.44x as of March 31, 2024, compared to the same date in 2023[45] - The company secured additional short-term financing of RMB 5 million and long-term financing of RMB 128 million after the reporting date[96] Business Expansion and Strategy - The company expanded its business portfolio to include thermal power and nuclear power projects, and accelerated overseas market expansion, including establishing a joint venture in Indonesia[7] - The company expanded its geographical coverage to the Greater Bay Area, deploying 10 tower cranes in Hong Kong and 19 in Macau as of March 2024[59] - The company expanded its strategy to include clean energy construction and extended its geographical reach to the Greater Bay Area and Indonesia to adapt to the challenging market environment[79] - The company issued SGD-denominated digital commercial paper under the SDAX Multi-Currency CP Financing Program with an annual interest rate of 5.6%, maturing in approximately 3 months from the issuance date[126] - The company's global offering of shares on the Hong Kong Stock Exchange raised net proceeds of approximately HKD 485.5 million, which were fully utilized by March 31, 2024[123] Operational Efficiency and Digital Transformation - The company implemented digital management platforms "TOP" and "Aijiantong" and plans to optimize business operations and digital management platforms in the coming year[13] - The company holds 158 utility model and invention patents related to tower cranes as of March 31, 2024[27] - The company managed a total of 1,174 tower cranes as of March 31, 2024, to meet customer demand for EPC projects across China[78] - The company had 259 ongoing projects with a total contract value of approximately RMB 417.7 million and 168 expected projects with a total contract value of approximately RMB 690.3 million as of March 31, 2024[78] Cost Management - Financing costs decreased by 20.9% from RMB 81.5 million in FY2023 to RMB 64.5 million in FY2024, mainly due to reduced net foreign exchange losses[17] - General and administrative expenses decreased by 9.9% from RMB 91.0 million in FY2023 to RMB 82.0 million in FY2024, primarily due to reduced employee benefits[32] Corporate Governance and Compliance - The company's financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, which require significant accounting estimates and judgments[105] - The company's subsidiaries are consolidated from the date control is obtained and deconsolidated from the date control ceases[106] - The company's property, plant, and equipment are reviewed for residual value and useful life at each reporting period, with adjustments made as appropriate[112] - The company's trade receivables are subject to impairment under the simplified approach allowed by HKFRS 9, with expected lifetime losses recognized at initial recognition[122] - The company's financial assets measured at amortized cost include those held for collecting contractual cash flows consisting solely of payments of principal and interest[120] - The company's amendments to HKFRS 16 regarding lease liabilities for sale and leaseback transactions will be effective for annual reporting periods beginning on or after January 1, 2024[104] - The company's internal control system is designed to provide reasonable assurance against material misstatement or loss, and to manage risks of not achieving business objectives[132] - The company has complied with all applicable code provisions of the Corporate Governance Code for the year ended March 31, 2024[163] - The Board of Directors consists of nine members, including two executive directors, four non-executive directors, and three independent non-executive directors[165] - The Nomination Committee held one meeting during the year ended March 31, 2024, with all members attending[171] - The company emphasizes diversity in the Board composition, including gender, age, experience, cultural and educational background, professional skills, and knowledge[175] - The company's core values include "Integrity," "Safety," and "Excellence," focusing on reliable services, maximizing shareholder profits, employee development, and social contribution[184] - The company has received independence confirmation letters from all independent non-executive directors, confirming their independence under the Listing Rules[188] - The company has a total of 9 directors, covering diverse genders, age groups, educational backgrounds, and professional experiences, achieving a balanced mix of skills, experience, and perspectives[192] - The Audit Committee reviewed the audited annual results for the year ended March 31, 2023, and the unaudited interim results for the six months ended September 30, 2023, confirming compliance with applicable accounting standards and adequate disclosure[197] - The Audit Committee consists of three independent non-executive directors: Ms. Pan Yishan (Chair), Mr. Yin Jintao, and Dr. Huang Zhaoren[196] - The Audit Committee members attended all 2 meetings held during their tenure[197] - The Remuneration Committee reviewed the company's remuneration policies and the compensation of executive directors and senior management for the year ended March 31, 2023[198] - The Remuneration Committee held 2 meetings during the year ended March 31, 2024[199] Accounting and Financial Policies - The company's software is amortized on a straight-line basis over an estimated useful life of 3 to 5 years[114] - Property, plant, and equipment are recorded at historical cost less depreciation and impairment losses, including direct acquisition costs and estimated installation and dismantling costs during the lease or service period[136] - R&D expenses are recognized as incurred, and costs related to patents and software development are capitalized as intangible assets when specific criteria are met, including sufficient technical, financial, and other resources to complete development[139] - Impairment assessments are conducted at the cash-generating unit level, and impaired non-financial assets (excluding goodwill) are reviewed for potential reversal of impairment at each reporting period[141] - Financial assets with embedded derivatives are considered as a whole when determining whether cash flows are solely payments of principal and interest[143] - Debt instruments measured at amortized cost or fair value through other comprehensive income are assessed for expected credit losses on a forward-looking basis, depending on whether credit risk has increased significantly[145] Board and Committee Activities - The nomination committee identifies suitable director candidates through various channels, including recommendations from directors, shareholders, management, consultants, and external headhunters[148] - The board reviews and monitors the nomination policy to ensure its effectiveness and compliance with regulatory requirements and good corporate governance practices[150]