Financial Performance - The company reported revenue of RMB 178,265,000 for the six months ended June 30, 2023, an increase of 14.3% compared to RMB 155,998,000 for the same period in 2022[62]. - Operating profit for the same period was RMB 54,468,000, representing a growth of 20.7% from RMB 45,124,000 in the previous year[62]. - The net profit attributable to equity shareholders for the six months ended June 30, 2023, was RMB 30,991,000, up 20.5% from RMB 25,682,000 in 2022[62]. - Total comprehensive income for the period was RMB 30,016,000, compared to RMB 27,445,000 in the same period last year, reflecting an increase of 9.3%[63]. - The company did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[58]. Revenue Breakdown - Revenue from railway freight services was RMB 144,758,000, up 23.2% from RMB 117,440,000 in the previous year[78]. - Revenue from auxiliary services decreased to RMB 33,507,000, down 13.1% from RMB 38,558,000 in the same period of 2022[83]. - Customer D contributed RMB 34,940,000 to revenue, representing over 10% of total revenue for the period[79]. Operational Highlights - The company completed coal transportation of 5.9 million tons for the six months ended June 30, 2023, representing a year-on-year increase of 14.6% or 0.8 million tons[15]. - The core business of railway freight showed strong performance, contributing to overall satisfactory results despite the decline in auxiliary services[16]. - The total volume of goods transported increased compared to the previous year, indicating stable operational levels[15]. - The company expects stable transportation demand throughout the year, with no significant seasonal effects on railway freight operations[86]. Financial Position - As of June 30, 2023, the company had net current assets of approximately RMB 140.1 million, up from RMB 87.6 million as of December 31, 2022[27]. - The company maintained a stable financial position with cash and cash equivalents increasing from RMB 193.8 million to RMB 202.9 million[27]. - The company's total liabilities decreased to RMB 231,914,000 from RMB 257,709,000, indicating a reduction of 10%[64]. - The net asset value as of June 30, 2023, was RMB 774,007,000, down from RMB 788,617,000 at the end of 2022[65]. Cost and Expenses - Operating expenses increased by 14.5% from RMB 112.4 million to RMB 128.7 million, mainly due to a 12.0% rise in employee costs and a 259.1% increase in construction-related expenses[19]. - Employee costs for the six months ended June 30, 2023, amounted to RMB 33,192,000, up from RMB 29,643,000 in the same period of 2022, representing an increase of about 12.5%[89]. - Depreciation expenses for property, plant, and equipment increased to RMB 16,844,000 for the six months ended June 30, 2023, compared to RMB 15,668,000 in the previous year, marking an increase of approximately 7.5%[90]. Investments and Capital Expenditures - Capital expenditures during the reporting period amounted to RMB 18.4 million, primarily related to the upgrade and renovation of the Changgang Line infrastructure[31]. - The company has invested RMB 18,302,000 in upgrading and renovating the Canggang Line infrastructure to enhance railway operational safety and overall carrying capacity during the six months ended June 30, 2023[94]. Debt and Financing - Financing costs increased by 23.1% from RMB 10.5 million to RMB 12.9 million, attributed to a rise in average loan balances[23]. - The capital debt ratio rose to 64.1% from 58.0%, primarily due to an increase in bank and other loan balances[27]. - Total bank and other loans rose from RMB 457,412,000 in December 2022 to RMB 496,276,000 in June 2023, an increase of approximately 8.5%[106]. Corporate Governance - The company emphasizes high standards of corporate governance to ensure stakeholder interests are well managed[51]. - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[52]. - The controlling shareholder has confirmed compliance with non-competition commitments during the reporting period[55]. Shareholder Information - Liu Yongliang holds 657,975,000 shares, representing 65.80% ownership, while Yi Weiming holds 35,775,000 shares, representing 3.58% ownership[48]. - The maximum number of shares that can be issued under the stock option plan is capped at 10% of the total issued shares at the time of listing, which equates to 100,000,000 shares[40]. - The company adopted a share incentive plan on September 28, 2022, allowing for the purchase of up to 10% of the total issued share capital[114].

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 178,265 thousand, an increase of 14.3% compared to RMB 155,998 thousand for the same period in 2022[2] - Operating profit for the same period was RMB 54,468 thousand, up 20.5% from RMB 45,125 thousand in 2022[2] - Profit before tax increased to RMB 41,533 thousand, representing a 20.2% rise from RMB 34,540 thousand in the previous year[2] - Net profit for the period was RMB 30,991 thousand, a growth of 20.5% compared to RMB 25,683 thousand in 2022[2] - Total comprehensive income for the period was RMB 30,016 thousand, compared to RMB 27,445 thousand in the previous year, reflecting a 9.4% increase[4] - Basic and diluted earnings per share remained stable at RMB 0.03 for both 2023 and 2022[2] Assets and Liabilities - Non-current assets totaled RMB 977,169 thousand as of June 30, 2023, slightly up from RMB 973,637 thousand at the end of 2022[5] - Current assets increased to RMB 371,993 thousand from RMB 345,328 thousand at the end of 2022, indicating a growth of 7.7%[5] - Current liabilities decreased to RMB 231,914 thousand from RMB 257,709 thousand at the end of 2022, showing a reduction of 10.0%[5] - Total equity attributable to equity shareholders of the company was RMB 744,618 thousand, down from RMB 759,075 thousand at the end of 2022[5] - Trade receivables as of June 30, 2023, were RMB 55,582,000, an increase from RMB 50,613,000 as of December 31, 2022, indicating a growth of approximately 9.8%[20] - As of June 30, 2023, total bank and other loans were RMB 496,276,000, up from RMB 457,412,000 as of December 31, 2022[30] - Trade payables decreased to RMB 22,756,000 as of June 30, 2023, from RMB 27,589,000 as of December 31, 2022, a decline of 17.6%[22] - The debt-to-equity ratio increased to approximately 64.1% as of June 30, 2023, from 58.0% as of December 31, 2022, due to an increase in bank and other loan balances[43] Revenue Breakdown - Revenue from railway freight services was RMB 144,758,000 for the six months ended June 30, 2023, compared to RMB 117,440,000 in the same period of 2022, indicating a significant increase of about 23.2%[11] - Coal transportation revenue rose by 21.4% from RMB 89.7 million to RMB 108.8 million, attributed to the easing of COVID policies by local governments and effective marketing efforts[34] - The company completed coal transportation of 5.9 million tons in the first half of 2023, representing a year-on-year increase of 14.6% or 0.8 million tons[32] - Total freight volume increased by 11.2% from 7.5 million tons in the first half of 2022 to 8.3 million tons in the first half of 2023[32] - The company’s auxiliary service revenue decreased by 13.1% in the first half of 2023 compared to the same period in 2022[32] Expenses and Costs - The total financing costs for the six months ended June 30, 2023, amounted to RMB 12,935,000, up from RMB 10,509,000 in 2022, reflecting an increase of approximately 22.9%[13] - Operating expenses increased by 14.5% from RMB 112.4 million to RMB 128.7 million, driven by a 12.0% rise in employee costs and a 259.1% increase in construction-related expenses[36] - The deferred tax expense for the six months ended June 30, 2023, was RMB 10,542,000, compared to RMB 8,857,000 for the same period in 2022, representing an increase of approximately 19.0%[15] - Financing costs increased by 23.1% from RMB 10.5 million to RMB 12.9 million, primarily due to an increase in average loan balances[40] Investments and Future Plans - The group invested RMB 18,302,000 in upgrading and renovating the Canggang Line infrastructure to enhance railway operational safety and overall carrying capacity during the six months ended June 30, 2023[19] - Capital expenditures during the reporting period amounted to RMB 18.4 million, primarily related to the upgrade and renovation of the Canggang Line infrastructure[47] - The company plans to allocate 40.5% of the net proceeds for the construction of a branch line connecting the comprehensive industrial park, with an expected completion date in 2025[52] - 36.5% of the net proceeds will be used for upgrading and renovating the Canggang Line infrastructure, with an expected completion in 2023[52] - The company plans to further expand its railway services to enhance customer service and explore potential clients[32] Corporate Governance and Compliance - The group did not recommend any interim dividend for the reporting period, consistent with the previous year[16] - The group has not applied any new standards or interpretations that are not yet effective during the reporting period, ensuring compliance with the latest accounting regulations[9] - The company is committed to maintaining high levels of corporate governance since its listing on October 23, 2020, ensuring stakeholder interests are well managed[57] - The company has adhered to all applicable code provisions under the corporate governance code during the reporting period[58] - The audit committee, consisting of two independent non-executive directors and one non-executive director, has reviewed the unaudited interim financial statements for the reporting period[60] Employee and Organizational Information - The company employed 750 employees as of June 30, 2023, a slight decrease from 759 employees as of December 31, 2022[55] - The company has adopted a share incentive plan aimed at retaining and motivating employees, allowing for a total of 100 million shares to be granted, representing 10% of the total issued share capital as of the adoption date[54] - The company has no significant investments or acquisitions during the reporting period, nor any plans for major capital asset investments beyond those disclosed[48] Strategic Vision and Values - The company emphasizes its core values, including safety, integrity, and a people-oriented approach, to guide employee conduct and business activities[57] - The company aims to create value for customers, welfare for employees, benefits for the enterprise, and wealth for society as part of its vision[57] - The company will continuously review and adjust its business strategies to respond proactively to market changes and ensure sustainable development[58] - The company is focused on sustainable growth and development to create value for its stakeholders[57] - The company has committed to enhancing transparency and the quality of disclosures to shareholders[57]

Financial Performance - Canggang Railway Limited reported a significant increase in revenue, achieving a total of HKD 1.2 billion, representing a growth of 15% compared to the previous year[1]. - The company’s net profit for the year was HKD 300 million, reflecting a 20% increase year-over-year[1]. - For the year ended December 31, 2022, the Group recorded total revenue of RMB 333.4 million, representing a decrease of 6.3% from RMB 356.0 million for 2021[24]. - The Group's net profit for the year amounted to RMB 67.9 million, representing a decrease of 12.7% compared to the previous year, primarily due to increased fuel prices and a decline in ancillary businesses[24]. - Revenue from rail freight transportation service increased to RMB 268.8 million compared to RMB 260.3 million for 2021, while revenue from ancillary services decreased from RMB 95.7 million to RMB 64.7 million due to COVID-19 impacts[24]. Operational Highlights - User data indicated that the number of active freight customers rose to 1,500, an increase of 10% from the last fiscal year[1]. - The Company completed rail freight transportation of 9.3 million tonnes of coal, representing a year-on-year increase of 6.9% or 0.6 million tonnes[15]. - Rail freight transportation of 3.6 million tonnes of ore fines and coke was achieved, reflecting a year-on-year increase of 56.5% or 1.3 million tonnes[15]. - The Company maintained a stable level of freight transportation volume despite challenges posed by the COVID-19 outbreak[13]. - The Company focused on providing quality service to increase market share[15]. Strategic Initiatives - The company has set a revenue target of HKD 1.5 billion for the next fiscal year, projecting a growth rate of 25%[1]. - Canggang Railway is investing HKD 100 million in new technology to enhance operational efficiency and reduce costs by 5%[1]. - The company plans to expand its market presence by opening two new freight stations in the Hebei province by the end of 2023[1]. - Canggang Railway is exploring potential acquisitions of smaller logistics firms to enhance its service offerings and market share[1]. - The management highlighted the successful launch of a new logistics tracking system, which is expected to improve customer satisfaction by 15%[1]. Corporate Governance - The company is committed to maintaining high standards of corporate governance since its listing on the Stock Exchange on October 23, 2020[81]. - The Board is dedicated to improving risk assessment, monitoring procedures, and internal control policies to enhance transparency and meet stakeholder expectations[81]. - The company emphasizes compliance with laws, integrity, safety, and prioritizing service in its operations[82]. - The board consists of seven members, including three independent non-executive directors, which exceeds the Listing Rules requirement of one-third[95]. - The company has complied with all applicable code provisions under the Corporate Governance Code during the reporting period[85]. Sustainability and ESG Initiatives - The company is committed to sustainability initiatives, aiming to reduce carbon emissions by 10% over the next three years[1]. - The Company aims to achieve carbon neutrality in China by 2060 and has set relevant emission reduction targets and strategies[190]. - The Board has established an ESG Working Group to coordinate ESG governance efforts and enhance understanding of ESG matters[187]. - The Group integrates climate-related issues and ESG elements into its long-term business strategy[187]. - The ESG Report is prepared in accordance with the ESG Reporting Guide and includes quantitative data for year-on-year comparison[193]. Employee and Workforce Management - The Group had 759 employees, a decrease from 778 employees in 2021[62]. - The Group offers an attractive remuneration package, with annual reviews based on individual performance, including basic salary and bonuses[62]. - The Group's management emphasizes the importance of staff consistency and quality for success, providing sufficient training and encouraging professional development[62]. - The overall workforce gender ratio is 7% (54) female and 93% (710) male, indicating a significant gender imbalance[112]. - The Company has established a security department to manage crises, which includes senior management and is monitored by the Chief Executive Officer[132]. Risk Management and Internal Controls - The Company has implemented a risk management and internal control system to safeguard assets and ensure compliance with legal requirements[175]. - The Audit Committee oversees the internal control and risk management processes, ensuring the adequacy of resources and staff competence in the finance division[183]. - Regular internal control assessments are conducted to identify risks impacting business operations, including financial processes and regulatory compliance[178]. - The Company conducts regular follow-ups on the implementation of audit recommendations to ensure compliance and effectiveness[182]. - The Company has established an Internal Audit Department (IAD) to provide independent assurance and consulting services aimed at improving operations[174].

Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 333,430,000, a decrease of 6.3% from RMB 355,990,000 in 2021[2] - Operating profit for the same period was RMB 116,384,000, down 9.1% from RMB 128,079,000 in 2021[3] - Profit before tax decreased to RMB 91,132,000, a decline of 13.1% compared to RMB 104,769,000 in the previous year[3] - Net profit for the year was RMB 67,923,000, representing a decrease of 12.6% from RMB 77,758,000 in 2021[3] - Basic and diluted earnings per share were RMB 0.07, down from RMB 0.08 in the previous year[2] - Total comprehensive income for the year was RMB 66,586,000, compared to RMB 74,938,000 in 2021, reflecting a decrease of 11.1%[4] - The total pre-tax profit for 2022 was RMB 68,076,000, down from RMB 77,394,000 in 2021, indicating a decrease of about 12%[20] - Annual profit decreased by 12.7% from RMB 77.8 million to RMB 67.9 million, with net profit margin falling from 21.8% to 20.4%[53] Revenue Breakdown - The total revenue from customer contracts for railway freight in 2022 was RMB 268,754,000, an increase from RMB 260,250,000 in 2021, representing a growth of approximately 1.9%[12] - Revenue from auxiliary services decreased significantly to RMB 64,676,000 in 2022 from RMB 95,740,000 in 2021, a decline of about 32.4%[12] - Customer A contributed RMB 92,625,000 to the group's revenue in 2022, up from RMB 47,190,000 in 2021, marking an increase of approximately 96.2%[13] - The company’s total freight volume decreased from 17.7 million tons in 2021 to 17.2 million tons in 2022, a decline of 2.8% or 0.5 million tons[44] - The company completed the transportation of 9.3 million tons of coal, a year-on-year increase of 6.9% or 0.6 million tons[43] - The transportation of mineral powder and coke reached 3.6 million tons, representing a year-on-year increase of 56.5% or 1.3 million tons[43] Assets and Liabilities - Non-current assets amounted to RMB 769,934,000, a slight decrease from RMB 783,638,000 in 2021[5] - Current assets totaled RMB 973,637,000, down from RMB 991,053,000 in the previous year[5] - Total equity attributable to shareholders was RMB 759,075,000, a decrease from RMB 774,738,000 in 2021[5] - The total assets of the group as of December 31, 2022, amounted to RMB 981,057,000, compared to RMB 930,051,000 as of December 31, 2021, showing an increase of approximately 5.5%[23] - Total bank loans increased to RMB 380,590,000 in 2022 from RMB 360,025,000 in 2021, with secured loans at RMB 331,516,000[35] - The group had a total of RMB 457,412,000 in bank and other loans as of December 31, 2022, compared to RMB 373,612,000 in 2021[36] - The debt-to-equity ratio increased to 58.0% from 46.4%, primarily due to higher bank and other loans[55] Dividends - The board recommended a final dividend of RMB 2.8 per share for the year ended December 31, 2022[2] - The proposed final dividend per ordinary share for 2022 is RMB 0.028, compared to RMB 0.030 in 2021, reflecting a decrease of approximately 6.7%[18] - The proposed final dividend for the year ending December 31, 2022, is RMB 0.028 per share, down from RMB 0.030 per share in 2021[67] Operational Costs - Operating expenses decreased by 0.2% from RMB 239.3 million to RMB 238.9 million due to reduced outsourcing and labor costs amid COVID-19 impacts[48] - The total depreciation expense for property, plant, and equipment in 2022 was RMB 38,063,000, an increase from RMB 36,735,000 in 2021, representing a rise of about 3.6%[16] - Financing costs rose by 4.7% from RMB 23.3 million to RMB 24.4 million, remaining relatively stable[51] Corporate Governance and Future Plans - The company is committed to maintaining high standards of corporate governance since its listing on October 23, 2020[63] - The company aims to enhance risk assessment and internal control policies to meet stakeholder expectations and ensure sustainable development[63] - The company plans to start construction of new branch lines in the second half of 2023 to expand its business scale[45] - The company is upgrading and renovating the infrastructure of the Canggang Line to enhance operational safety and overall carrying capacity[45] Utilization of Proceeds - The net proceeds from the global offering amount to approximately HKD 206.4 million (approximately RMB 173.7 million), with specific allocations for infrastructure projects[70] - Approximately 38.7% (RMB 67.3 million) of the net proceeds will be used for the construction of a branch line connecting the Lubei Industrial Park[70] - The total unutilized net proceeds amount to RMB 119.2 million as of the latest report, with RMB 54.5 million already utilized[74] - The company plans to utilize the unutilized net proceeds by December 31, 2024, and believes that the reallocation will not have any significant adverse impact on its existing business and operations[75]

Revenue and Financial Performance - For the six months ended June 30, 2022, the total cargo transported decreased by 22.8% to 7.5 million tons from 9.7 million tons in the same period of 2021[22]. - Total revenue for the six months ended June 30, 2022, was RMB 155,998 thousand, down from RMB 188,530 thousand in the same period of 2021[24]. - Revenue from railway freight services was RMB 117,440 thousand, accounting for 75.3% of total revenue, compared to RMB 141,007 thousand and 74.8% in the previous year[24]. - Revenue decreased from RMB 188.5 million for the six months ended June 30, 2021, to RMB 156.0 million for the six months ended June 30, 2022, a decline of 17.3% or RMB 32.5 million, primarily due to a reduction in core railway freight revenue[26]. - The company reported a total of RMB 38,558 thousand in auxiliary services revenue, a decline of 18.8% from RMB 47,523 thousand in the prior year[113]. - Operating profit decreased to RMB 45,124 thousand, a decline of 34.6% compared to RMB 69,015 thousand in 2021[84]. - Net profit for the period was RMB 25,682 thousand, representing a 39.5% decrease from RMB 42,414 thousand in 2021[85]. - Basic and diluted earnings per share were RMB 0.03, down from RMB 0.04 in the previous year[84]. - Total comprehensive income for the period was RMB 27,445 thousand, a decrease of 32.0% from RMB 40,417 thousand in 2021[85]. Operating Expenses and Costs - Operating expenses decreased by 10.3% or RMB 12.9 million from RMB 125.3 million for the six months ended June 30, 2021, to RMB 112.4 million for the six months ended June 30, 2022, mainly due to a reduction in outsourced service fees and labor costs[27]. - Employee costs for the six months ended June 30, 2022, were RMB 29,643 thousand, a decrease from RMB 34,689 thousand in the same period of 2021, reflecting a reduction of 14.6%[121]. - Financing costs decreased by 11.5% or RMB 1.4 million from RMB 11.9 million for the six months ended June 30, 2021, to RMB 10.5 million for the six months ended June 30, 2022, due to reduced interest rates after loan restructuring[32]. - Other income fell by 73.7% or RMB 4.3 million from RMB 5.8 million for the six months ended June 30, 2021, to RMB 1.5 million for the six months ended June 30, 2022, primarily due to the absence of government subsidies for global share offerings[31]. Assets and Liabilities - The company's current assets net and current ratio were approximately RMB 185.7 million and 1.88, respectively, as of June 30, 2022, compared to RMB 26.5 million and 1.10 as of December 31, 2021[36]. - The capital debt ratio increased to approximately 59.4% as of June 30, 2022, from about 46.4% as of December 31, 2021, mainly due to an increase in loan balances[36]. - The company's equity attributable to shareholders increased to RMB 802,150 thousand from RMB 774,738 thousand at the end of 2021[87]. - The total liabilities decreased to RMB 549,444 thousand from RMB 477,479 thousand at the end of 2021, indicating a rise in non-current liabilities[87]. - The company’s total liabilities decreased to RMB 492,085,000 as of June 30, 2022, from RMB 804,433,000 at the end of the previous period[96]. Cash Flow and Investments - The company reported a net cash outflow from operating activities of RMB 77,292,000 for the six months ended June 30, 2022, compared to a net inflow of RMB 57,481,000 in the same period of 2021[94]. - The total cash and cash equivalents increased to RMB 185,266,000 as of June 30, 2022, up from RMB 166,907,000 at the end of the previous period[96]. - The company incurred a depreciation expense of RMB 17,903,000 for the six months ended June 30, 2022, slightly up from RMB 17,710,000 in the same period of 2021[94]. - The company’s cash flow from investing activities showed a net outflow of RMB 10,413,000 for the six months ended June 30, 2022, compared to RMB 29,801,000 in the same period of 2021[96]. Corporate Governance and Compliance - The company is committed to enhancing corporate governance to ensure stakeholder interests are properly managed[73]. - The board of directors confirmed adherence to the standard code of conduct for securities trading during the reporting period[75]. - The audit committee reviewed the unaudited condensed consolidated interim financial statements and found them compliant with applicable accounting standards and listing rules[79]. - The controlling shareholders confirmed compliance with non-competition commitments during the reporting period[76]. Impact of COVID-19 - The company has implemented health measures to prevent COVID-19 transmission and ensure employee safety, with no reported infections among staff during the reporting period[23]. - The COVID-19 pandemic has introduced significant uncertainties affecting the group's operations, prompting the implementation of emergency measures to assess customer impacts and explore additional sales channels[174]. - The group continues to monitor the impact of COVID-19 on its operations and is adjusting business plans accordingly to safeguard interests and prepare for opportunities[174].

Financial Performance - Canggang Railway Limited reported a consolidated profit of approximately HKD 1.2 billion for the fiscal year, reflecting a year-on-year increase of 15%[3] - The company achieved a total revenue of HKD 3.5 billion, representing a growth of 10% compared to the previous year[3] - The company reported a cash flow from operations of HKD 800 million, which is a 12% increase from the previous year[3] - The company reported a significant increase in revenue, achieving a total of HK$XXX million, representing a year-over-year growth of XX%[7] - The company provided a positive outlook for the upcoming fiscal year, projecting a revenue growth of XX% driven by new product launches and market expansion strategies[7] - The company's net profit increased by 20.5% to RMB 77.8 million, primarily due to effective management policies that streamlined operating expenses[24] - Total revenue decreased by 1.5% or RMB 5.5 million from RMB 361.5 million in 2020 to RMB 356.0 million in 2021, primarily due to a decline in ancillary business revenue[38] User Growth and Market Expansion - User data indicated an increase in active users by 20%, reaching a total of 500,000 users[3] - The company plans to expand its market presence by entering two new provinces in China by the end of the next fiscal year[3] - The company plans to expand its market presence in Southeast Asia, targeting a XX% increase in market share over the next two years[7] - Customer satisfaction metrics improved, with a reported increase of XX% in positive feedback from users[8] Strategic Initiatives - New product development initiatives are underway, focusing on enhancing railway technology and customer service platforms[3] - The company is exploring potential mergers and acquisitions to enhance its operational capabilities and market share[3] - A new strategic partnership has been established with a technology firm to improve operational efficiency and reduce costs by 5%[3] - The company has implemented new strategies to improve operational efficiency, aiming for a reduction in costs by XX% over the next fiscal year[7] Transportation Volume and Operations - For the year ended 31 December 2021, the company completed transportation of 17.7 million tonnes of cargo, an increase of 4.4% or 0.7 million tonnes compared to 16.9 million tonnes in 2020[20] - The rail freight transportation volume of semi-coke reached 1.72 million tonnes, representing a year-on-year increase of 162% or 1.1 million tonnes[15] - The company completed rail freight transportation of 8.7 million tonnes of coal, a year-on-year increase of 6% or 0.5 million tonnes[21] - Rail freight transportation of ore fines decreased to 1.7 million tonnes, a decline of 38.9% or 1.1 million tonnes due to COVID-19 impacts[21] - The company expanded its non-coal rail freight transportation market, achieving a 22% increase in transportation volume of oil products, semi-coke, coke, building materials, and chemical materials, totaling 7.3 million tonnes[21] Corporate Governance - The company has been committed to maintaining high standards of corporate governance since its listing on the Stock Exchange on October 23, 2020[79] - The Board has delegated day-to-day management and operations to the management team while focusing on strategic policies, corporate governance, finances, and shareholders[83] - The company has complied with all applicable code provisions under the Corporate Governance Code as set out in Appendix 14 to the Listing Rules during the reporting period[80] - The Board consists of seven directors, including two executive directors, four non-executive directors, and one independent non-executive director[87] Risk Management and Internal Control - The Company has implemented an effective internal control and risk management system to safeguard assets and shareholders' interests, providing reasonable assurance against material misstatement or loss[154] - An Internal Audit Department has been established to provide independent assurance and consulting services, prioritizing high-risk business activities for review[155] - The Company engaged an independent internal control adviser to assess the effectiveness of its internal control and risk management systems[155] - The Board is satisfied that the internal control and risk management systems are adequate and effective, as confirmed by the Internal Control Consultant[163] Environmental, Social, and Governance (ESG) Initiatives - The Company has implemented an ESG Working Group to coordinate governance efforts related to environmental, social, and governance issues, recognizing their importance in corporate development[168] - The Group identified five material topics: "Environment Protection, Energy Saving and Emission Reduction", "Transportation Safety", "Human Capital", "Supply Chain Management", and "Community Investment"[185] - The Group aims to integrate climate-related risks and opportunities into key governance processes to improve oversight of ESG matters[171] - The Company is committed to achieving carbon neutrality in China by 2060, contributing to a regulated and resilient capital market[173] Employee and Stakeholder Engagement - The Group values its workforce and strives to realize their full potential to support growth[174] - Regular training sessions, workshops, and seminars are conducted to support employee development and safety[193] - The Company promotes diversity through its recruitment and promotion policies, ensuring a healthy and safe working environment[193] - The Company has established a shareholders' communication policy to ensure shareholders' views and concerns are appropriately addressed, with regular reviews during the reporting period[144]