- 1 - 毛利 80,760 173,231 所得稅抵免 9 9,769 1,320 以下各項應佔年度虧損： 本公司擁有人 (95,638) (35,813) 年度全面虧損總額（除稅後） 綜合財務狀況表 於2024年3月31日 | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------|-------------------|-----------------------|-----------------------|------------------------------------------|-----------------------|-----------------------|--------------------| | | 股本 人民幣千元 | 股份溢價 人民幣千元 | 資本儲備 人民幣千元 | 本公司擁有人應佔 \n法定儲備 人民幣千元 | 其他儲備 人民幣千元 | 保留盈利 人民幣千元 | 總計 人民幣千元 | | 於 2022 年 4 月 1 日 | 593,026 ...

Financing Costs and Borrowings - As of September 30, 2023, the total financing costs amounted to RMB 30,971,000, a decrease of 44.5% compared to RMB 56,083,000 for the same period in 2022[1] - The net financing cost, after accounting for financing income, was RMB 30,440,000, down from RMB 55,820,000 year-on-year[1] - The total borrowings as of September 30, 2023, reached RMB 1,101,460,000, an increase from RMB 981,260,000 as of March 31, 2023[20] - The company has pledged machinery with a book value of approximately RMB 1,118,001,000 as collateral for its borrowings[7] - The company’s non-current bank borrowings secured by collateral were RMB 667,835,000 as of September 30, 2023, compared to RMB 617,415,000 as of March 31, 2023[20] - The company’s financing costs have decreased due to reduced foreign exchange losses from foreign currency loans[65] Trade Receivables and Impairment - Trade receivables increased to RMB 793,933,000 as of September 30, 2023, compared to RMB 647,347,000 as of March 31, 2023, reflecting a growth of 22.6%[13] - The impairment provision for trade receivables was RMB 19,967,000, up from RMB 16,276,000, indicating a rise in expected credit losses[13][14] - The company applies a simplified approach to measure expected credit losses for trade receivables, categorizing them based on common credit risk characteristics and overdue days[111] - The company has a comprehensive financial risk management strategy in place to address credit risks associated with trade receivables[196] Revenue and Profitability - For the six months ended September 30, 2023, the group's revenue decreased to RMB 358.6 million, a decline of approximately 7.4% compared to RMB 387.5 million for the same period in 2022[84] - The overall gross profit decreased by approximately 15.5% from RMB 755 million for the six months ended September 30, 2022, to RMB 638 million for the six months ended September 30, 2023, with a gross profit margin decline from 19.5% to 17.8%[39] - The net loss for the six months ended September 30, 2023, was approximately RMB 20.4 million, a reduction of about 51.2% compared to a net loss of RMB 41.9 million for the same period in 2022[65] - The gross loss for the period was RMB 294.84 million, compared to a gross loss of RMB 311.88 million in the previous year, indicating an improvement[138] - The net loss attributable to the company's owners for the period was RMB 20.44 million, a significant reduction from RMB 41.88 million in the same period last year, representing a 51% decrease[151] Expenses and Cost Management - Sales costs decreased by approximately 5.5% from RMB 3,119 million for the six months ended September 30, 2022, to RMB 2,948 million for the six months ended September 30, 2023, primarily due to reduced material, maintenance, and subcontracting costs[66] - General and administrative expenses were approximately RMB 396 million for the six months ended September 30, 2023, a decrease of about RMB 17 million or 4.3% compared to RMB 413 million for the same period in 2022[68] - The group's sales and distribution expenses decreased by approximately 14.0% to RMB 6.6 million from RMB 7.6 million in the previous period, primarily due to reduced travel expenses from adopting online work[86] Assets and Liabilities - Non-current assets as of September 30, 2023, totaled RMB 1,618.63 million, slightly down from RMB 1,651.07 million as of March 31, 2023[141] - Total liabilities amounted to RMB 3,204.85 million as of September 30, 2023, compared to RMB 3,153.05 million as of March 31, 2023[143] - The total assets amounted to RMB 3,204,851 thousand as of September 30, 2023, compared to RMB 3,153,045 thousand as of March 31, 2023[176] Cash Flow and Investments - Operating cash inflow for the six months ended September 30, 2023, was RMB 112.8 million, compared to RMB 85.7 million in the previous year[92] - Net cash outflow from investing activities was RMB 184.8 million, slightly improved from RMB 197.3 million in the previous period[92] - The group's total cash and cash equivalents at the end of the period were RMB 148.0 million, down from RMB 151.7 million at the end of the previous year[92] Corporate Governance and Compliance - The company has maintained compliance with all applicable corporate governance codes as of September 30, 2023[106] - The audit committee reviewed the unaudited interim financial results for the six months ended September 30, 2023, and found no discrepancies[107] - The company has established an audit committee to oversee financial reporting and internal audit functions, consisting of three independent non-executive directors[118] Strategic Initiatives and Market Position - The company aims to enhance operational efficiency and international business development through improved data management and resource sharing[37] - The company continues to focus on the development of new tower crane technology solutions to strengthen its project acquisition capabilities[36] - The company plans to optimize its sustainable development strategy while striving to become the best construction equipment service provider in the industry[37] - The company is adjusting its operational and geographical strategies in response to the rapidly changing global market environment, particularly in light of the growth in China's clean green energy sector[127] - The company has expanded its geographical footprint into the Greater Bay Area, including Hong Kong and Macau, with the first tower crane deployed in Hong Kong and over 20 units in Macau as of June 2023[158] - The company aims to maintain its domestic market position despite challenges in the construction industry due to slow post-pandemic economic recovery[158] Tax and Share Options - As of September 30, 2023, the company reported a tax credit of approximately RMB 55 million, an increase from RMB 15 million for the same period in 2022[128] - The company has not issued, exercised, or canceled any share options under the share option scheme as of September 30, 2023, with a total of 116,687,125 options available for grant[117] Financial Risks - The group continues to face various financial risks, including market risk, credit risk, and liquidity risk, which are detailed in the annual financial statements[79] - The company is exposed to credit risks related to cash and cash equivalents, with expected credit losses anticipated to be close to zero due to transactions with reputable banks[110] - Significant changes in customer payment behavior have been observed, impacting expected loss rates[189] - The historical loss rates will be adjusted to reflect current and forward-looking macroeconomic data[189]

– 2 – | --- | --- | --- | --- | |-------------------------------|-------|---------------------------------------------|-----------------------------------------| | | 附註 | 未經審核 於 2023 年 9 月 30 日 人民幣千元 | 經審核 於 2023 年 3 月 31 日 人民幣千元 | | 負債 | | | | | 非流動負債 | | | | | 借款 | 10 | 667,835 | 617,415 | | 租賃負債 | | 41,023 | 47,566 | | 遞延所得稅負債 | | 63,212 | 67,628 | | 撥備 | | 26,092 | 33,906 | | 非流動負債總額 | | 798,162 | 766,515 | | 流動負債 | | | | | 貿易應付款項及應付票據 | 11 | 355,848 | 387,268 | | 合約負債 | 3 | 6,027 | 896 | | | | | | | 其他 ...

Financial Performance - The company's gross profit decreased from approximately RMB 234.1 million for the year ended March 31, 2022, to approximately RMB 173.2 million for the year ended March 31, 2023, representing a decline of about 26.0%[6]. - The net loss for the year ended March 31, 2023, was approximately RMB 35.8 million, compared to a profit of approximately RMB 47.6 million for the year ended March 31, 2022, a decrease of about 175.2%[6]. - The overall gross profit margin decreased from approximately 27.0% for the year ended March 31, 2022, to approximately 22.5% for the year ended March 31, 2023[16]. - Cash and cash equivalents, along with restricted cash, amounted to RMB 159.0 million as of March 31, 2023, a decrease of RMB 10.9 million compared to the previous year[21]. - The increase in foreign exchange losses significantly impacted the net loss, with a rise of approximately RMB 37.2 million attributed to foreign currency loans and other risks[6]. - The net foreign exchange loss for the year ended March 31, 2023, was approximately RMB 37.2 million, compared to a net foreign exchange gain of RMB 4.5 million for the year ended March 31, 2022[51]. - As of March 31, 2023, the net current assets of the group were RMB 383.5 million, a decrease of RMB 68.4 million compared to March 31, 2022, primarily due to an increase in the current portion of borrowings[46]. - The group's debt-to-equity ratio as of March 31, 2023, was 70.3%, up from 44.6% on March 31, 2022, mainly due to increased borrowings[47]. - The total utilized net proceeds as of March 31, 2023, was RMB 485.5 million, with RMB 425.0 million utilized and RMB 60.5 million remaining[52]. Operational Challenges - The company faced significant challenges due to geopolitical tensions and economic downturns, impacting project timelines and overall performance[5]. - The impact of the COVID-19 pandemic continues to be monitored and assessed by the management[55]. Corporate Governance - The company emphasizes the importance of good corporate governance elements in its management structure and internal control procedures to achieve effective accountability[79]. - The board is responsible for leading and controlling the company, including setting overall strategy and reviewing operational and financial performance[81]. - The company has established three committees: audit, remuneration, and nomination, each with clear written terms of reference[90]. - The audit committee held two meetings during the fiscal year ending March 31, 2023, reviewing the audited annual results and the unaudited interim results, ensuring compliance with applicable accounting standards[91]. - The remuneration committee conducted two meetings, with all members present at both sessions, indicating strong governance in executive compensation matters[93]. - The nomination committee held one meeting during the fiscal year, focusing on principles for board member selection[95]. - The board held five meetings during the year ending March 31, 2023, ensuring active governance and oversight[118]. - The board has decided not to declare a final dividend for the year ended March 31, 2023 (2022: final dividend of HKD 0.016 per share)[168]. - The company has confirmed that all directors have complied with the trading regulations since the listing date, with no violations noted during the reporting period[80]. - The company has received annual independence confirmation letters from all independent non-executive directors as of March 31, 2023, and considers them independent according to the guidelines in Listing Rule 3.13[200]. Risk Management - The company has adopted a risk management policy to assess the likelihood and potential impact of risks, prioritizing mitigation plans accordingly[155]. - As of March 31, 2023, the board has conducted a comprehensive review of the risk management and internal control systems, deeming them effective and adequate[157]. - The audit committee is responsible for overseeing the internal audit function, ensuring that internal controls operate as planned[156]. - The internal control system aims to provide reasonable assurance against significant misstatements or losses, managing rather than eliminating risks[155]. Strategic Initiatives - The company established two new subsidiaries in Southern China to capitalize on opportunities in the Greater Bay Area[12]. - The company has significant future plans for acquisitions, investments, and capital assets[54]. - The management is focused on enhancing service capabilities and competitiveness[49]. - The company focuses on providing one-stop tower crane solutions to state-owned contractors in China, covering consulting, technical solutions, commissioning, construction, and after-sales services[166]. Human Resources - The company is committed to providing competitive compensation packages to attract and retain talent, which includes regular reviews based on market practices and employee performance[28]. - The company has adopted a board diversity policy to enhance business development and improve board performance, considering factors such as gender, age, cultural background, and professional experience[87]. - The company is focused on enhancing board diversity, particularly in gender balance, during the selection of new directors[134]. Compliance and Ethics - The company has implemented an internal anti-corruption policy to ensure compliance with relevant laws and prevent bribery, corruption, or fraud among directors and employees[174]. - The company has maintained effective communication with shareholders, particularly through annual and special general meetings[181]. - The company has not reported any significant violations or non-compliance with applicable laws and regulations during the year[189]. - The company maintains a whistleblowing policy to allow employees and third parties to report concerns confidentially without fear of retaliation[145]. - The company has established procedures for handling and disseminating inside information, including the appointment of a new company secretary[178]. Shareholder Engagement - The company has detailed its retirement obligations in the financial statements for the year ended March 31, 2023[194]. - The company has made amendments to its Articles of Association to comply with the revised listing rules effective from January 1, 2022[184]. - The company will hold its 2023 Annual General Meeting on September 28, 2023[187]. - The company's website serves as a comprehensive resource for shareholders and investors, providing updates on the company's latest developments[161]. Values and Culture - The company emphasizes three core values: integrity, safety, and excellence, guiding its operational and strategic decisions[106]. - The company has committed to social responsibility and sustainable development as part of its operational ethos[107]. - The company has adopted a dividend policy that requires maintaining sufficient cash reserves to meet operational needs and future growth before declaring dividends[138]. - The remuneration of directors is determined by the board based on their experience and responsibilities, and is reviewed annually by the remuneration committee and the board[200]. - The company has no predetermined dividend payout ratio, allowing flexibility in dividend declarations based on financial performance[139].

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的任何損失承擔任何責任。 Tat Hong Equipment Service Co., Ltd. 達豐設備服務有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2153） 全年業績 | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------|------------|--------------|------------|-----------------------------|------------|--------------|-------------| | | 股本 | 股份溢價 | 資本儲備 | 本公司擁有人應佔 \n法定儲備 | 其他儲備 | 保留盈利 | 總計 | | | 人民幣千元 | 人民幣千元 | 人民幣千元 | 人民幣千元 | 人民幣千元 | 人民幣千元 | 人 ...

Financial Performance - Revenue for the six months ended September 30, 2022, was RMB 387,401 thousand, a decrease of 6.8% from RMB 415,599 thousand in the same period of 2021[9]. - Gross profit for the same period was RMB 75,522 thousand, down 36.8% from RMB 119,451 thousand year-on-year[9]. - Operating profit decreased significantly to RMB 12,393 thousand, compared to RMB 63,154 thousand in the previous year, reflecting a decline of 80.3%[9]. - The company reported a loss of RMB 41,880 thousand for the period, compared to a profit of RMB 38,488 thousand in the same period last year[9]. - Cash flow from operating activities was RMB 69,571 thousand for the six months ended September 30, 2022, down from RMB 93,146 thousand in the same period last year, a decrease of about 25.3%[21]. - The company reported a net loss of RMB 41,880 thousand for the six months ended September 30, 2022, compared to a profit of RMB 38,488 thousand in the previous period[17]. - Overall gross profit decreased by approximately 36.8% from RMB 119.5 million for the six months ended September 30, 2021, to RMB 75.5 million for the six months ended September 30, 2022, with gross margin dropping from approximately 28.8% to 19.5%[166]. - The company recorded a loss of RMB 41.9 million for the period, a decrease of approximately RMB 80.4 million or 208.8% compared to a profit of RMB 38.5 million in the same period of 2021[173]. Assets and Liabilities - Total assets as of September 30, 2022, amounted to RMB 3,113,408 thousand, an increase from RMB 2,918,634 thousand as of March 31, 2022[10]. - Non-current assets increased to RMB 1,825,530 thousand from RMB 1,726,040 thousand, indicating a growth of 5.8%[10]. - Current assets totaled RMB 1,287,878 thousand, up from RMB 1,192,594 thousand, representing an increase of 8.0%[10]. - Total liabilities increased to RMB 1,602,365 thousand as of September 30, 2022, up from RMB 1,348,801 thousand in the previous year, representing a growth of approximately 18.7%[14]. - Current liabilities rose to RMB 895,128 thousand, compared to RMB 740,703 thousand a year earlier, marking an increase of about 20.9%[14]. - Total equity decreased to RMB 1,511,043 thousand from RMB 1,569,833 thousand, reflecting a decline of approximately 3.7%[14]. - The company’s retained earnings decreased to RMB 414,082 thousand from RMB 455,962 thousand, a decline of about 9.1%[17]. - The company’s total assets increased to RMB 3,113,408 thousand from RMB 2,918,634 thousand, representing a growth of approximately 6.7%[14]. Cash and Financing - The company’s cash and cash equivalents decreased to RMB 151,687 thousand from RMB 169,858 thousand, a decline of 10.7%[10]. - The company’s total borrowings as of September 30, 2022, were RMB 835,342 thousand, with RMB 255,476 thousand due within one year[51]. - The total financial liabilities as of September 30, 2022, amounted to RMB 1,527,541 thousand, with significant portions due within one year[51]. - The company reported a net financing cost of RMB 55,820,000 for the six months ended September 30, 2022, compared to RMB 11,960,000 for the same period in 2021, indicating a significant increase[76]. - The company’s financing costs surged to RMB 56,083 thousand, compared to RMB 12,393 thousand in the same period last year, indicating a significant increase[9]. - The weighted average effective interest rate for RMB borrowings was 4.2% for the six months ended September 30, 2022, down from 5.1% for the year ended March 31, 2022[115]. Trade Receivables and Impairment - As of September 30, 2022, the total trade receivables amounted to RMB 690,457 thousand, with overdue amounts exceeding 181 days totaling RMB 60,998 thousand[43]. - The expected loss rate for trade receivables was 2.40%, with specific overdue categories showing rates of (0.54%) for within 180 days and (9.85%) for over 2 years[43]. - The impairment provision for trade receivables increased to RMB 16,585 thousand as of September 30, 2022, compared to RMB 11,882 thousand at the beginning of the period[45]. - The company reported a significant increase in trade receivables impairment provision from RMB 5,695 thousand to RMB 16,585 thousand year-over-year[45]. - The company assessed that there was no significant increase in credit risk for other receivables as of September 30, 2022[46]. Research and Development - Research and development expenses were RMB 12,217 thousand, slightly down from RMB 12,847 thousand in the previous year[9]. - Research and development expenses decreased from approximately RMB 12.8 million for the six months ended September 30, 2021, to RMB 12.2 million for the same period in 2022, mainly due to a reduction in patent development work[168]. Employee and Corporate Governance - As of September 30, 2022, the group employed a total of 1,328 employees, an increase from 1,180 employees in 2021, with total employee benefit expenses amounting to RMB 50.2 million, up 2.0% year-on-year[188]. - The employee compensation package is regularly reviewed to reflect market practices and employee performance, ensuring competitiveness in attracting and retaining talent[188]. - The company provides various government-regulated social insurance plans for its employees in China, contributing a percentage of salaries to these funds[188]. Dividends and Shareholder Information - The company paid dividends amounting to RMB 29,087 thousand during the reporting period[21]. - The board did not recommend any dividend payment for the six months ended September 30, 2022, compared to a special dividend of HKD 0.03 per share in 2021[186]. - The final dividend of HKD 0.016 per share for the year ended March 31, 2022, was approved at the annual general meeting on September 28, 2022, and was paid on November 4, 2022, totaling approximately HKD 18,669,940[186]. - The company’s major shareholder, Tat Hong Equipment (China) Pte. Ltd., directly holds approximately 66.92% of the issued share capital[191]. - The company’s directors and senior management hold significant stakes, with Mr. Huang holding 790,760,387 shares, representing 67.77% of the company[191]. Market and Strategic Outlook - The company plans to establish a standardized after-sales service ecosystem for tower cranes, focusing on sustainable development and compliance with safety standards[162]. - Future strategies include enhancing the digital platform "Aijian Tong" for contract compliance and safety management, aiming to improve operational processes[162]. - The company will continue to analyze the impact of the COVID-19 pandemic on its business segments and adjust strategic plans accordingly[161].

Financial Performance - Revenue increased from approximately RMB 793.0 million for the year ended March 31, 2021, to approximately RMB 867.0 million for the year ended March 31, 2022, representing a growth of about 9.3%[9] - Gross profit decreased from approximately RMB 273.3 million to approximately RMB 234.1 million, a decline of about 14.3%[10] - Net profit fell from approximately RMB 101.2 million to approximately RMB 47.6 million, a decrease of about 52.9%[10] - Gross margin and net profit margin for the year ended March 31, 2022, were approximately 27.0% and 5.5%, respectively[11] - The company's revenue increased to RMB 867.0 million for the fiscal year ending March 31, 2022, representing a 9.3% increase from RMB 793.0 million for the fiscal year ending March 31, 2021[21] - Overall gross profit decreased by about 14.3% to RMB 234.1 million for the fiscal year ending March 31, 2022, down from RMB 273.3 million for the fiscal year ending March 31, 2021[23] - The company's sales cost increased by approximately 21.8% to RMB 632.9 million for the fiscal year ending March 31, 2022, up from RMB 519.7 million for the fiscal year ending March 31, 2021[22] - Other income increased by approximately RMB 9.4 million or 179.7% to RMB 14.7 million for the fiscal year ending March 31, 2022, compared to RMB 5.2 million for the fiscal year ending March 31, 2021[24] - Research and development expenses slightly increased to approximately RMB 25.4 million for the fiscal year ending March 31, 2022, from about RMB 24.3 million for the fiscal year ending March 31, 2021[25] - General and administrative expenses rose by approximately RMB 41.8 million or 47.8% to RMB 129.2 million for the fiscal year ending March 31, 2022, compared to RMB 87.4 million for the fiscal year ending March 31, 2021[27] - The financing costs increased by approximately RMB 7.1 million or 51.0% to RMB 21.1 million for the fiscal year ending March 31, 2022, from RMB 14.0 million for the fiscal year ending March 31, 2021[29] - For the fiscal year ending March 31, 2022, the company recorded a net profit of approximately RMB 47.6 million, a decrease of about 52.9% compared to RMB 101.2 million for the fiscal year ending March 31, 2021[17] Contracts and Future Outlook - The company has 288 ongoing contracts valued at approximately RMB 569.0 million and 42 expected contracts valued at approximately RMB 102.0 million as of March 31, 2022[11] - The company anticipates completing contracts worth approximately RMB 626.0 million for the year ending March 31, 2023[11] - The company plans to focus on medium to large tower cranes to meet the growing demand for prefabricated construction[12] - The company aims to establish a standardized after-sales service ecosystem for tower cranes to support sustainable development in the industry[12] - The company will continue to enhance its manufacturing and processing capabilities for tower cranes to meet diverse customer needs[12] - The company acknowledges the ongoing global economic uncertainties and will monitor recovery speeds across different economies to capture opportunities and mitigate operational risks[12] Assets and Liabilities - The company's net current assets decreased by RMB 257.0 million to RMB 451.9 million as of March 31, 2022, primarily due to an increase in trade payables[32] - As of March 31, 2022, the company's cash and cash equivalents amounted to RMB 169.9 million, a decrease of RMB 180.5 million compared to the previous year[34] - The company's bank borrowings increased to approximately RMB 642.0 million as of March 31, 2022, up from RMB 482.6 million in the previous year[34] - The current ratio decreased to 1.61 times as of March 31, 2022, down from 2.64 times the previous year, primarily due to an increase in trade payables[34] - The debt-to-equity ratio rose to 44.6% as of March 31, 2022, compared to 35.5% the previous year[34] - Lease liabilities decreased by 12.6% to approximately RMB 58.7 million as of March 31, 2022, from RMB 67.2 million the previous year[37] - The company had capital commitments of RMB 14.3 million for equipment not yet delivered as of March 31, 2022, an increase of RMB 13.9 million from the previous year[39] Employee and Remuneration - Total employee benefit expenses for the year ended March 31, 2022, amounted to RMB 108.0 million, a 33.4% increase from the previous year due to an increase in employee numbers and wages[50] - The company’s remuneration policy is based on employee performance, qualifications, and capabilities, with regular performance assessments conducted[125] - No directors waived any remuneration for the year ending March 31, 2022[125] Dividends and Shareholder Information - The proposed final dividend for the year ended March 31, 2022, is HKD 0.016 per share, totaling approximately HKD 18.67 million, down from HKD 35.01 million the previous year[48] - As of March 31, 2022, the company's distributable reserves amounted to approximately HKD 517.8 million, a decrease from HKD 571.3 million as of March 31, 2021[111] - The company proposed a final dividend of HKD 0.016 per share, totaling approximately HKD 18,669,940, subject to shareholder approval at the 2022 Annual General Meeting[97] - The company has a significant shareholder, Tat Hong China, which owns approximately 67.8% of the issued share capital[148] - As of March 31, 2022, the company’s board members and senior executives hold a total of 790,760,387 ordinary shares, representing about 67.77% of the company[145] Governance and Compliance - The company has complied with applicable laws and regulations without any significant violations during the fiscal year[105] - The company has adopted the corporate governance code under Appendix 14 of the listing rules, ensuring compliance with all applicable code provisions for the year ending March 31, 2022[185] - The company has established an audit committee consisting of three independent non-executive directors to review the consolidated financial statements for the year ending March 31, 2022[180] - The consolidated financial statements for the year ending March 31, 2022, have been audited by PwC, which is willing to be reappointed as the independent auditor at the upcoming annual general meeting[181] - The company has implemented a board diversity policy to enhance business development and improve board performance, considering factors such as gender, age, and professional experience[198] - The company is committed to maintaining high corporate governance standards to ensure the integrity, transparency, and quality of information disclosure[183] - The chairman and CEO positions are held by different individuals to ensure independence and accountability within the company[192] - The audit committee has been established in accordance with the corporate governance code to oversee financial reporting and compliance[180] Related Party Transactions - The company has ongoing related party transactions with Yongmao Group, with a transaction amount of RMB 101.7 million for the purchase of tower cranes and related parts for the year ending March 31, 2022[138] - The company also has a rental agreement with Yongmao Group, with a transaction amount of RMB 107.8 million for the rental of tower cranes and related parts for the same period[138] - As of March 31, 2022, Tat Hong Holdings owns approximately 24.0% of Yongmao, while Sun & Tian Investment Pte. Ltd. holds about 57.4%, making Yongmao a related party under the listing rules[141] - All independent non-executive directors have reviewed the related party transactions and confirmed that they are conducted in the ordinary course of business and on normal commercial terms[141] - The company’s related party transactions are governed by the Hong Kong Listing Rules Chapter 14A, ensuring compliance with disclosure requirements[143] - The auditor confirmed that all related party transactions were approved by the board and complied with relevant agreements[142] Management and Directors - Mr. Sun has over 24 years of experience in the construction machinery manufacturing industry and has been the Chairman and Executive Director of Yongmao since February 2008[68] - Mr. Liu has over 13 years of experience in the tower crane industry, including development, manufacturing, and management[69] - Mr. Guo has over 29 years of experience in the nuclear engineering industry and is currently the General Manager of the Bidding Management Department at China Nuclear Industry[70] - Ms. Pan has over 22 years of experience in auditing and accounting, currently serving as a partner at Taipei Onething CPAs Firm[75] - Mr. Yin has over 25 years of experience in venture capital and private equity investment, previously holding senior positions in various investment firms[78] - Mr. Yin has been an independent director of Nanofilm Technologies International Limited since May 2021, contributing to the company's strategic direction in nanotechnology solutions in Asia[79] - Dr. Huang, appointed as an independent non-executive director in December 2020, has over 30 years of experience in international political economy and business, providing independent advice to the board[80] - Ms. Wang, the Chief Financial Officer, oversees all financial activities, budgeting, and forecasting, with over 16 years of experience in auditing and finance[83] - Mr. Duan, Senior Vice President, has over 14 years of experience in the construction machinery rental industry, managing daily operations of the group and its subsidiaries[84] - Mr. Zhu, Senior Vice President, has over 34 years of experience in the construction industry, responsible for overseeing daily operations at Huaxing Dafeng[87] - Mr. Shen, Chief Engineer, has over 22 years of experience in technical supervision and project management within the construction and property development sectors[88] Corporate Social Responsibility - The group made charitable donations of approximately RMB 240,000 during the year, compared to none in the previous year[166] - The group is committed to environmental sustainability, focusing on energy conservation and recycling initiatives[106]

Financial Performance - Revenue for the six months ended September 30, 2021, was RMB 415,599,000, an increase of 1.3% from RMB 410,539,000 in the same period of 2020[11]. - Gross profit decreased to RMB 119,451,000, down 19.0% from RMB 147,554,000 year-on-year[12]. - Operating profit for the period was RMB 63,154,000, a decline of 31.7% compared to RMB 92,413,000 in the previous year[14]. - Profit before tax was RMB 51,194,000, down 38.4% from RMB 82,893,000 in the same period of 2020[16]. - Net profit for the period was RMB 38,488,000, a decrease of 37.7% from RMB 61,876,000 year-on-year[18]. - Basic and diluted earnings per share decreased to RMB 0.03 from RMB 0.07 year-on-year[23]. - The company reported a profit of RMB 38,488 thousand for the period, compared to RMB 61,876 thousand in the previous period, reflecting a decline of 37.7%[33]. - The company recorded a net profit of approximately RMB 38.5 million for the six months ended September 30, 2021, a decrease of about 37.8% compared to RMB 61.9 million for the same period in 2020[161]. Assets and Liabilities - Total assets as of September 30, 2021, amounted to RMB 2,871,646,000, an increase from RMB 2,481,740,000 as of March 31, 2021[27]. - Non-current assets increased to RMB 1,670,025,000 from RMB 1,340,719,000 in the previous period[27]. - Total liabilities increased to RMB 1,311,072 thousand as of September 30, 2021, up from RMB 930,811 thousand as of March 31, 2021, representing a growth of 40.9%[31]. - Current liabilities rose significantly to RMB 732,081 thousand, compared to RMB 432,131 thousand, marking an increase of 69.5%[31]. - Non-current liabilities totaled RMB 578,991 thousand, an increase from RMB 498,680 thousand, reflecting a growth of 16.1%[31]. - Total equity reached RMB 1,560,574 thousand as of September 30, 2021, up from RMB 1,550,929 thousand, indicating a slight increase of 0.6%[33]. - Total borrowings as of September 30, 2021, were RMB 571,637 thousand, with RMB 124,279 thousand due within one year[69]. - The total financial liabilities as of September 30, 2021, amounted to RMB 1,217,934 thousand, with RMB 697,002 thousand due within one year[69]. Cash Flow - Cash and cash equivalents increased to RMB 209,632,000 from RMB 149,515,000 in the previous period[27]. - Net cash inflow from operating activities was RMB 93,146 thousand, down from RMB 123,862 thousand, a decrease of 24.9%[37]. - The financing activities generated a net cash inflow of RMB 69,674 thousand, compared to RMB 64,729 thousand, an increase of 7.5%[37]. - Cash and cash equivalents at the end of the period were RMB 209,632 thousand, compared to RMB 96,291 thousand at the end of the previous period, showing a growth of 117.5%[37]. Trade Receivables and Credit Risk - Trade receivables rose to RMB 587,921,000, up from RMB 454,428,000 as of March 31, 2021[27]. - As of September 30, 2021, the total trade receivables amounted to RMB 593,652 thousand, with overdue amounts exceeding 180 days totaling RMB 35,529 thousand[60]. - The expected loss rate for trade receivables was 0.97% overall, with the highest rate of 3.82% for amounts overdue for more than 2 years[60]. - The impairment provision for trade receivables as of September 30, 2021, was RMB 5,731 thousand, an increase from RMB 5,695 thousand as of March 31, 2021[63]. - Credit risk related to cash and cash equivalents is managed primarily with reputable banks, with expected credit losses close to zero[54]. - The group applies a simplified approach to measure expected credit losses for trade receivables, using lifetime expected loss provisions[57]. Revenue Sources - Revenue from tower crane services, including operating leases and lifting services, contributed significantly to total revenue, with RMB 192,806,000 from operating leases and RMB 220,460,000 from lifting services for the six months ended September 30, 2021[91]. - Major customers contributing over 10% of total revenue included Customer A, which generated RMB 82,295,000 in revenue for the six months ended September 30, 2021, compared to RMB 65,916,000 in the same period of 2020[82]. Expenses and Costs - The company's cost of sales increased by approximately 12.6% to about RMB 296.1 million for the six months ended September 30, 2021, primarily due to an increase in subcontracting labor costs from RMB 108.2 million to RMB 133.3 million[166]. - Overall gross profit decreased by approximately 19.0% to about RMB 119.5 million, with the gross profit margin declining from approximately 36.0% to 28.8%[167]. - General and administrative expenses rose by approximately 17.6% to about RMB 46.7 million, primarily due to a 10% increase in average employee salaries[172]. - Financing costs increased by approximately 27.8% to about RMB 12.4 million, mainly due to foreign exchange losses from foreign currency borrowings[173]. Shareholder Information - The company declared a dividend of RMB 29,081,000 for the year ended September 30, 2021, compared to RMB 7,646,000 for the previous year, representing an increase of approximately 280%[98]. - A special dividend of HKD 0.03 per share was proposed, totaling approximately HKD 35.0 million, to reward shareholders[193]. - As of September 30, 2021, Mr. Huang holds 758,507,878 ordinary shares, representing 65.0% of the company's total issued share capital[198]. Ownership Structure - Tat Hong China Equipment (China) Pte. Ltd. owns approximately 61.5% of the company's issued share capital, while TH Straits 2015 Pte. Ltd. owns about 3.5%[198]. - The overall ownership structure indicates a strong concentration of control within a small group of individuals and related entities[199]. - The company has a complex ownership structure involving multiple layers of subsidiaries and trusts, impacting governance and decision-making[198]. Employee Information - The total employee cost for the six months ended September 30, 2021, was approximately RMB 49.2 million, an increase of about 39.0% compared to the same period in 2020, driven by an increase in employee numbers and salary increments[188]. - The company employed a total of 1,180 employees as of September 30, 2021[188].

TAT HONG EQUIPMENT SERVICE CO., LTD. 達 豐 設 備 服 務 有 限 公 司* （於開曼群島註冊成立的有限公司） 股份代號 : 02153 年報 2021 * 僅供議別 目 錄 | --- | --- | |----------------------|-------| | | | | 公司資料 | 2 | | 主席報告 | 4 | | 管理層討論及分析 | 5 | | 董事及高級管理層履歷 | 11 | | 董事報告書 | 18 | | 企業管治報告 | 29 | | 獨立核數師報告 | 42 | | 綜合全面收益表 | 47 | | 綜合財務狀況表 | 48 | | 綜合權益變動表 | 50 | | 綜合現金流量表 | 51 | | 綜合財務報表附註 | 52 | | 四年財務概要 | 116 | 公司資料 | --- | --- | |-----------------------------|-------------------------------------------------------| | 董事會 | 法律顧問 | | 執行董事 | 崔曾律師事務所 ...