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依賴該等內容而引致的任何損失承擔任何責任。 China Titans Energy Technology Group Co., Limited 中國泰坦能源技術集團有限公司* （於開曼群島註冊成立的成員有限公司） （股份代號：2188） 截至二零二二年十二月三十一日止年度之 末期業績 財務摘要 – 營業額由去年約人民幣337,344,000元增加至人民幣344,848,000元。 – 與二零二一年度本公司擁有人應佔溢利約人民幣18,595,000元相比，本年 度本公司擁有人應佔虧損約為人民幣18,227,000元。 – 董事會不建議就截至二零二二年十二月三十一日止年度派發任何末期 股息。 ...

Financial Performance - The company reported a revenue of approximately RMB 125,245,000 for the six months ended June 30, 2022, representing a decrease of about 5.59% compared to the same period last year[17]. - Sales of power DC products amounted to approximately RMB 46,119,000, a decline of 6.29% from RMB 49,217,000 in the previous year[19]. - Revenue from electric vehicle charging equipment was approximately RMB 67,973,000, down 3.89% from RMB 70,725,000 in the prior year[20]. - The electric vehicle charging services segment generated revenue of approximately RMB 11,084,000, reflecting an 11.19% decrease from RMB 12,481,000 in the previous year[21]. - The company incurred a loss attributable to shareholders of approximately RMB 11,037,000, an increase of about RMB 1,533,000 compared to a loss of RMB 9,504,000 in the same period last year[17]. - The gross profit decreased from approximately RMB 44,025,000 in 2021 to about RMB 40,988,000 in 2022[33]. - The overall gross margin decreased from approximately 33.19% in 2021 to about 32.73% in 2022[35]. - The company recorded a net loss of RMB 11,537,000 for the first half of 2022, compared to a loss of RMB 10,036,000 in the same period of 2021, indicating an increase in losses of 15%[69]. - The group reported a loss before tax of RMB (10,939) thousand for the six months ended June 30, 2022, compared to the previous year's performance, highlighting ongoing challenges in profitability[85]. Market and Operational Developments - The domestic production and sales of electric vehicles decreased, while the number of electric vehicle charging facilities increased significantly, with a growth of 228.4% in public charging infrastructure[23]. - The company established a new large customer organization to better adapt to market changes and actively explore new markets, achieving a record number of provinces covered during the reporting period[24]. - The company anticipates stable growth in annual sales despite the decline in sales during the first half of the year[24]. - The company is focusing on new product development, including high-power parallel UPS and energy storage products, which are expected to become new growth points[29]. - The company is focused on expanding its electric vehicle charging services and construction projects, which are expected to drive future revenue growth[76]. Financial Position and Cash Flow - As of June 30, 2022, the group's cash and cash equivalents amounted to approximately RMB 73,101,000, a decrease from RMB 78,988,000 as of December 31, 2021[48]. - The group's net current assets as of June 30, 2022, were approximately RMB 344,233,000, compared to RMB 328,852,000 as of December 31, 2021[48]. - Total bank and other borrowings as of June 30, 2022, were RMB 163,757,000, with a slight decrease of RMB 21,000 from RMB 163,778,000 as of December 31, 2021[51]. - The group's current ratio as of June 30, 2022, was 2.10, down from 2.17 as of December 31, 2021, while the debt-to-asset ratio was 18.18%, compared to 18.90% previously[51]. - The net cash used in operating activities for the six months ended June 30, 2022, was RMB (7,534) thousand, compared to RMB (29,604) thousand for the same period in 2021, indicating an improvement of 74.5%[75]. - Total cash inflow from investment activities was RMB 49,292 thousand for the six months ended June 30, 2022, up from RMB 35,316 thousand in the previous year, representing an increase of 39.6%[75]. - Cash and cash equivalents increased by RMB 37,113 thousand, reaching RMB 73,101 thousand at the end of the reporting period, compared to RMB 60,144 thousand at the end of the previous year[75]. Expenses and Cost Management - Sales and distribution expenses increased by approximately RMB 2,745,000 or about 13.78% to approximately RMB 22,673,000 for the six months ended June 30, 2022, compared to approximately RMB 19,928,000 for the same period in 2021[38]. - Administrative expenses decreased by approximately RMB 3,155,000 or about 10.13% to approximately RMB 27,984,000 for the six months ended June 30, 2022, from approximately RMB 31,139,000 for the same period in 2021[39]. - The group's financial costs decreased by approximately 8.62% to about RMB 4,631,000 for the six months ended June 30, 2022, from approximately RMB 5,068,000 for the same period in 2021, representing 3.70% of the group's revenue[42]. - Other income, primarily including VAT refunds and government subsidies, decreased by approximately 72.40% from RMB 3,663,000 in 2021 to RMB 1,011,000 in 2022[37]. Shareholder and Equity Information - The company has not declared an interim dividend for the six months ended June 30, 2022, consistent with the previous year[65]. - The company’s equity attributable to owners decreased to RMB 498,005,000 from RMB 510,992,000, a decrease of about 2.5%[71]. - The company’s directors held a total of 205,709,875 shares, representing approximately 22.24% of the issued share capital as of June 30, 2022[120]. - The company has a share option plan aimed at rewarding contributions from senior personnel and employees[130]. - The total number of securities available for issuance under the 2020 share option plan is 91,455,600 shares, representing 9.89% of the company's issued shares[136]. Compliance and Governance - The company has maintained compliance with corporate governance codes and has not engaged in any significant litigation or arbitration during the reporting period[65]. - The company is focused on refining internal management practices through the implementation of OKR and KPI methodologies[64].

Financial Performance - The total revenue for the year ended December 31, 2021, was RMB 337,344,000, representing an increase of 22.4% compared to RMB 275,592,000 in 2020[9] - Gross profit for 2021 was RMB 114,421,000, up from RMB 68,264,000 in 2020, indicating a significant improvement in profitability[9] - The net profit attributable to owners of the company for 2021 was RMB 18,595,000, a turnaround from a loss of RMB 29,622,000 in 2020[9] - The total assets as of December 31, 2021, were RMB 866,432,000, compared to RMB 826,440,000 in 2020, showing a growth of 4.1%[9] - The company recorded a revenue of approximately RMB 337,344,000 for the year ended December 31, 2021, representing an increase of about 22.41% compared to the previous year[20] - The profit attributable to the owners of the company for 2021 was approximately RMB 18,595,000, marking a turnaround from a loss of approximately RMB 29,622,000 in the previous year[21] - The company's main business revenue for the reporting period was approximately RMB 337,344,000, representing a year-on-year growth of about 22.41%[28] - The gross profit margin improved from approximately 24.77% in 2020 to about 33.92% in 2021, primarily due to increased revenue from higher-margin electric vehicle charging equipment[44] Revenue Breakdown - Revenue from electric vehicle charging equipment reached approximately RMB 186,505,000, an increase of about 34.61% compared to 2020[24] - Revenue from electric vehicle charging services was approximately RMB 25,696,000, reflecting a growth of about 36.42% year-on-year[25] - Revenue from direct current power products was approximately RMB 124,586,000, showing a growth of about 7.60% compared to the previous year[23] - Charging service revenue amounted to approximately RMB 25,696,000, showing a year-on-year increase of about 36.42%[32] - Other business revenue, including sales of energy storage products, decreased by approximately 76.99% to RMB 557,000[26] Market and Product Development - Future outlook includes potential market expansion and new product development strategies to enhance revenue growth[9] - The company plans to actively develop battery swapping products, anticipating increased market demand in the near future[17] - The company intends to develop new products related to power quality management and energy storage systems to create new revenue streams[36] - The company is focusing on technological advancements and strategic partnerships to strengthen its market position[9] - The company is focusing on the development of electric vehicle charging stations and related equipment to promote clean energy transition[167] Financial Stability and Ratios - The current ratio for 2021 was 2.17, slightly up from 2.16 in 2020, indicating stable liquidity[11] - The capital debt ratio decreased to 18.90% in 2021 from 20.43% in 2020, reflecting improved financial stability[11] - The company reported a return on equity of 3.64% for 2021, recovering from a negative return of (6.01%) in 2020[11] - Financial costs decreased by approximately 8.61% from RMB 11,226,000 in 2020 to RMB 10,260,000 in 2021, with the percentage of financial costs to revenue declining from about 4.07% to 3.04%[50] Corporate Governance - The company has complied with all applicable code provisions of the Corporate Governance Code as of December 31, 2021[84] - The board consists of two executive directors and three independent non-executive directors, with detailed biographies provided in the annual report[87] - The company emphasizes the importance of internal controls and fair disclosure in its governance practices[84] - The board has authorized management to handle daily operations, with department heads responsible for specific business functions[99] - The company has appointed Ms. He Yongxin as the company secretary and the main contact person is Mr. Chen Xiangjun, the vice president[113] Sustainability and ESG Initiatives - The company is committed to sustainable development and actively engages with stakeholders to address environmental and social concerns[144] - The company's environmental, social, and governance (ESG) report outlines its performance and initiatives in sustainable development for the year 2021[141] - The sustainable development strategy encompasses four key areas: environmental protection, social responsibility and supplier management, product responsibility, and employment relations[152] - The group aims to maintain high levels of corporate governance standards and integrate sustainable development elements into daily operations to create value for the community[151] - The group has established a dedicated sustainability working group to manage ESG risks and ensure the implementation of sustainability policies across departments[157] Employee and Corporate Culture - The company emphasizes the importance of corporate culture to enhance competitiveness and achieve sustainable development goals[196] - A comprehensive training management system is established to support employee career development and provide various training opportunities[198] - Employee safety and health are prioritized, with a comprehensive human resources management system in place to enhance overall employee quality and efficiency[191] - The company encourages employee feedback in product design to foster a creative and dynamic corporate environment[168] - Employees are entitled to various statutory paid leave, including annual leave and maternity leave, along with additional benefits such as health checks[195]

Financial Performance - For the six months ended June 30, 2021, China Titans Energy Technology Group recorded revenue of approximately RMB 132,664,000, an increase of about 18.63% compared to the same period last year[18]. - The company reported a loss attributable to owners of approximately RMB 9,504,000, a decrease of about RMB 7,077,000 compared to a loss of RMB 16,581,000 in the previous year[18]. - The company reported a net loss of RMB 10,036,000 for the six months ended June 30, 2021, compared to a net loss of RMB 17,144,000 in the prior year, reflecting a reduction in losses[67]. - The group reported a loss before tax of RMB (11,205) thousand for the six months ended June 30, 2021, compared to a loss of RMB (19,341) thousand in the previous year, indicating an improvement in financial performance[86]. - The basic and diluted loss per share for the six months ended June 30, 2021, was RMB 1.03, compared to RMB 1.79 in the same period of 2020[69]. Revenue Breakdown - Revenue from electric vehicle charging equipment reached approximately RMB 70,725,000, representing a growth of about 30.12% year-on-year[21]. - The sales of electric vehicle charging services increased by approximately 55.44%, totaling around RMB 12,481,000 for the reporting period[22]. - The total revenue for the first half of 2021 was approximately RMB 132,664,000, representing an 18.63% increase compared to RMB 111,827,000 in the same period of 2020[30]. - Total revenue for the six months ended June 30, 2021, was RMB 132,664 thousand, with segment revenues of RMB 49,217 thousand from DC systems, RMB 70,725 thousand from charging equipment, and RMB 12,481 thousand from charging services[85]. Cost and Profitability - The gross profit increased from approximately RMB 32,470,000 in 2020 to about RMB 44,025,000 in 2021, marking a substantial increase[32]. - The overall gross margin improved from approximately 29.04% in 2020 to about 33.19% in 2021[35]. - The gross margin for electric vehicle charging equipment rose by approximately 7.14% compared to the same period last year[36]. Operational Metrics - The domestic production and sales of new energy vehicles increased significantly, with a year-on-year growth of 134.9% in production and 139.3% in sales by the end of June 2021[24]. - The penetration rate of new energy vehicles rose from 5.4% at the beginning of the year to 9.4% by June 2021[24]. - The number of public charging infrastructure increased by 176% year-on-year, with a total of 26.6 million new charging facilities added in the first half of 2021[24]. Expenses and Liabilities - Administrative expenses increased by approximately 19.27% from RMB 26,106,000 to RMB 31,139,000 for the six months ended June 30, 2021[39]. - Financial costs increased by approximately 53.16% from RMB 3,309,000 to RMB 5,068,000 for the six months ended June 30, 2021, representing an increase in percentage of revenue from 2.96% to 3.82%[42]. - Current liabilities rose from RMB 254,706,000 to RMB 259,409,000, an increase of 1.8%[71]. Cash Flow and Assets - As of June 30, 2021, the group had cash and cash equivalents of approximately RMB 60,144,000, down from RMB 72,803,000 as of December 31, 2020[49]. - The company’s cash and cash equivalents increased from RMB 45,303,000 to RMB 60,144,000, an increase of 32.8%[70]. - The total assets as of June 30, 2021, amounted to RMB 555,517,000, compared to RMB 549,081,000 as of December 31, 2020, reflecting a slight increase of 1.6%[70]. Strategic Plans and Market Opportunities - The company anticipates new development opportunities in electric vehicle charging and DC power products due to the government's focus on energy conservation and emissions reduction[24]. - The company plans to explore development opportunities in the new energy market while continuing to implement its main business operations in the second half of 2021[61]. - The company aims to optimize existing battery swapping products and expedite the market launch of heavy-duty vehicle battery swapping and shore power products[62]. Shareholder Information - A total of 37,980,000 stock options were granted to directors and employees in July 2021 to incentivize performance and align interests with corporate goals[63]. - The company has not declared an interim dividend for the six months ended June 30, 2021, consistent with the previous year[64]. - The company’s executive directors held a total of 205,709,875 shares, representing approximately 22.24% of the issued shares as of June 30, 2021[114].

Financial Performance - Total revenue for the year 2020 was RMB 275,592,000, a decrease of 8.5% from RMB 301,214,000 in 2019[25] - Gross profit for 2020 was RMB 68,264,000, down 22.7% from RMB 88,282,000 in 2019[25] - The company reported a loss attributable to owners of RMB (29,622,000) in 2020, compared to a loss of RMB (47,603,000) in 2019, indicating an improvement[25] - The company reported a revenue of approximately RMB 275,592,000 for the year 2020, representing a decrease of 8.51% compared to the previous year[33] - The net loss attributable to shareholders was approximately RMB 29,622,000, a reduction of 37.77% from the previous year's loss of RMB 47,603,000[33] - The company's main business revenue for the reporting period was approximately RMB 275,592,000, a year-on-year decrease of 8.51%[45] - The company's revenue decreased from RMB 301,214,000 in 2019 to RMB 275,592,000 in 2020, a decline of approximately 8.51% due to the impact of the COVID-19 pandemic[61] Assets and Liabilities - Total assets as of December 31, 2020, were RMB 826,440,000, a decrease from RMB 878,764,000 in 2019[25] - Total liabilities decreased from RMB 184,184,000 in 2019 to RMB 168,839,000 in 2020, with all borrowings secured[86] - The total equity as of December 31, 2020, was RMB 504,893,000, down from RMB 544,344,000 in 2019[87] - Current assets were RMB 549,081,000 in 2020, compared to RMB 580,091,000 in 2019[87] Inventory and Receivables - Inventory turnover period increased to 165 days in 2020 from 139 days in 2019, suggesting slower inventory movement[27] - Trade receivables and notes receivable decreased from RMB 266,922,000 in 2019 to RMB 248,509,000 in 2020, primarily due to a decline in revenue during the reporting period[79] - The impairment loss on trade receivables was approximately RMB 3,995,000 in 2020, compared to RMB 1,107,000 in 2019[81] Revenue Breakdown - Revenue from electric vehicle charging equipment was approximately RMB 138,547,000, down 4.39% year-on-year[40] - Revenue from electric vehicle charging services increased by approximately 3.49% to RMB 18,836,000, driven by new charging projects and a mature franchise model[42] - The sales of power DC products amounted to approximately RMB 115,788,000, a decrease of 12.98% compared to the previous year[39] - Revenue from power DC products was approximately RMB 115,788,000, down 12.98% year-on-year, primarily due to supply chain inefficiencies caused by pandemic control measures[45] - Revenue from electric vehicle charging equipment was approximately RMB 138,547,000, a decrease of 4.39% year-on-year, with a notable slowdown in infrastructure construction during the first half of the year[47] Future Outlook and Strategy - The company plans to focus on new product development and market expansion strategies in the upcoming year[1] - Future outlook includes potential mergers and acquisitions to enhance market presence and operational capabilities[1] - The company anticipates that its main business areas are closely related to China's "new infrastructure" initiatives and the "14th Five-Year Plan," indicating potential future growth opportunities[33] - The company aims to achieve rapid growth in main operating revenue in 2021 by exploring new market segments and enhancing service capabilities[58] Corporate Governance - The company has maintained a high level of corporate governance, adhering to the principles and codes outlined in the Corporate Governance Code[101] - The board of directors held 5 meetings during the year, ensuring that all members received necessary information in a timely manner[105] - The company has complied with all applicable code provisions during the reporting period[102] - The board consists of two executive directors and three independent non-executive directors, with detailed biographies provided in the annual report[104] - The company has a strong focus on internal controls and fair disclosure to enhance confidence among shareholders and the public[101] Sustainability and ESG Initiatives - The company is committed to sustainable development, focusing on environmental, social, and governance (ESG) initiatives as part of its operational strategy[156] - The group aims to integrate sustainability into all aspects of business operations, emphasizing environmental compliance, social responsibility, and supplier management[165] - The company is committed to improving air quality and reducing greenhouse gas emissions through the promotion of electric vehicles and clean energy solutions[177] - The company has established a risk and opportunity assessment team to manage ESG-related risks and enhance performance, led by qualified personnel from the management team[169] Research and Development - The company has over 50 patents as of 2020, indicating a strong commitment to research and development[182] - The company has developed a reliable and efficient shore power system at Zhuhai Hongwan Port, reducing emissions from ships by providing power from shore facilities instead of onboard generators[189] - The company is actively developing various charging equipment to meet the dynamic market needs, focusing on smart charging islands that utilize intelligent power distribution technology to optimize charging efficiency[187] Employee and Operational Management - The group employed a total of 410 employees as of December 31, 2020, down from 438 employees as of December 31, 2019, indicating a reduction of 6.4%[91] - The company emphasizes customer relationships and satisfaction, committing to 24-hour service and comprehensive after-sales support[191] - The company has implemented a systematic approach to product design and testing, ensuring reliability and practicality before mass production[182]

Financial Performance - For the six months ended June 30, 2020, China Titans Energy Technology Group recorded revenue of approximately RMB 111.83 million, a decrease of about 12.91% compared to the same period last year[21]. - The group recorded a loss attributable to owners of the company of approximately RMB 16.58 million, a decrease of about RMB 19.94 million compared to a profit of RMB 3.36 million in the same period last year[21]. - Revenue for the six months ended June 30, 2020, was RMB 111,827 thousand, a decrease of 13% compared to RMB 128,399 thousand in 2019[78]. - Gross profit for the same period was RMB 32,470 thousand, down 30.7% from RMB 46,826 thousand in 2019[78]. - The company reported a loss before tax of RMB 19,341 thousand, compared to a profit of RMB 11,580 thousand in the previous year[78]. - The net loss attributable to owners of the company was RMB 16,581 thousand, a significant decline from a profit of RMB 3,355 thousand in 2019[79]. - Basic and diluted loss per share for the six months ended June 30, 2020, was RMB 1.79, compared to earnings of RMB 0.36 per share in the same period of 2019[51]. - The group reported a total comprehensive income of RMB (17,810) for the period, compared to RMB 4,130 in the previous year[77]. Revenue Breakdown - The sales revenue from power DC products was approximately RMB 49.13 million, down 8.12% from RMB 53.47 million in the same period last year[24]. - The sales revenue from electric vehicle charging equipment was approximately RMB 54.35 million, a decrease of 13.39% from RMB 62.75 million in the same period last year[25]. - The sales revenue from electric vehicle charging services was approximately RMB 8.03 million, down 24.25% from RMB 10.60 million in the same period last year[26]. - The total revenue from other business activities was approximately RMB 310,000, a decrease of about 80.28% from RMB 1.57 million in the same period last year[27]. Market Conditions - The overall market for electric vehicle charging infrastructure is expected to improve as the pandemic situation stabilizes and economic activities resume[28]. - The domestic economy shows clear signs of recovery post-COVID-19, with market demand expected to return to pre-pandemic levels, particularly in the power and new energy vehicle sectors[66]. - The total number of new energy vehicles produced and sold in China was 397,000 and 393,000 respectively, down 36.5% and 37.4% year-on-year[29]. - The number of charging infrastructure units increased by 103,000, but the growth rate decreased significantly, with public charging infrastructure growth down 47.1% year-on-year[29]. Cost and Expenses - The group's gross profit decreased from approximately RMB 46,826,000 in the same period of 2019 to approximately RMB 32,470,000 for the six months ended June 30, 2020, a reduction of about RMB 14,356,000[39]. - The overall gross margin declined from approximately 36.47% in the same period of 2019 to approximately 29.04% for the six months ended June 30, 2020, a decrease of about 7.43%[40]. - Other income, primarily including VAT refunds and government subsidies, decreased by approximately 47.54% from about RMB 10,808,000 in the six months ended June 30, 2019 to about RMB 5,670,000 for the same period in 2020[43]. - Selling and distribution expenses decreased by approximately RMB 713,000 or about 3.41% to approximately RMB 20,213,000 for the six months ended June 30, 2020[44]. - Administrative expenses decreased by approximately RMB 86,000 or about 0.33% to approximately RMB 26,106,000 for the six months ended June 30, 2020[45]. - Financial costs increased by approximately 0.42% from about RMB 3,295,000 in the same period of 2019 to about RMB 3,309,000 for the six months ended June 30, 2020, with the percentage of financial costs to revenue rising from 2.57% to 2.96%[48]. Strategic Initiatives - The company is positioned to benefit from China's new infrastructure initiatives, which include significant investments in electric power and new energy vehicle charging stations[28]. - The company is focusing on a dual-driven development strategy of "manufacturing + operation" to recover production and maintain competitiveness[30]. - The group plans to strengthen and improve product technology and management standards to maximize competitiveness moving forward[42]. - The group aims to enhance product profitability and competitiveness in response to the cost pressures caused by the pandemic[42]. - The group plans to diversify its customer base and enhance product shipment efficiency, leveraging a strong sales model established in the first half of the year[67]. Cash Flow and Assets - As of June 30, 2020, the company's cash and cash equivalents were approximately RMB 66,480,000, a decrease from RMB 100,152,000 as of December 31, 2019[54]. - The company had total bank and other borrowings of RMB 177,300,000 as of June 30, 2020, down from RMB 184,184,000 as of December 31, 2019[57]. - Trade receivables and notes receivable (net of provisions) increased to approximately RMB 282,050,000 as of June 30, 2020, compared to RMB 266,922,000 as of December 31, 2019[58]. - The company reported a net current asset value of approximately RMB 318,409,000 as of June 30, 2020, down from RMB 334,008,000 as of December 31, 2019[54]. - The company’s total equity amounted to RMB 596,143,000 as of June 30, 2020, compared to RMB 592,013,000 at the beginning of the year[82]. Employee and Compensation - The total number of employees decreased to 400 as of June 30, 2020, from 452 as of June 30, 2019, with total employee compensation for the period amounting to approximately RMB 20,507,000, down from RMB 23,112,000 in the previous year[52]. - The compensation for executive directors increased to RMB 638 thousand for the six months ended June 30, 2020, up from RMB 521 thousand in the same period of 2019, marking an increase of approximately 22.4%[128]. Shareholder Information - The ownership of shares by directors includes Mr. Li Xinqing holding 205,709,875 shares, representing approximately 22.24% of the issued shares[130]. - Genius Mind Enterprises Limited holds 197,724,457 shares, representing 21.37% of the total issued shares[133]. - Great Passion International Limited has 187,884,457 shares, accounting for 20.31% of the total issued shares[133]. - Major shareholder Zeng Zhen holds 205,909,875 shares, which is approximately 22.26% of the total issued shares[133]. Regulatory and Compliance - The company has implemented new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on its financial performance[90]. - The board did not declare an interim dividend for the six months ended June 30, 2020, consistent with the previous year[72]. - There were no significant legal proceedings or arbitrations during the reporting period[72].

Financial Performance - In 2019, the company reported revenue of RMB 301,214,000, an increase from RMB 270,204,000 in 2018, representing an increase of approximately 11.1%[25] - The gross profit for 2019 was RMB 212,932,000, significantly higher than RMB 82,231,000 in 2018, indicating a substantial improvement in profitability[25] - The net loss attributable to owners of the company for 2019 was RMB (47,603,000), compared to a loss of RMB (40,168,000) in 2018, reflecting a worsening financial performance[25] - Total assets as of December 31, 2019, were RMB 878,764,000, down from RMB 983,542,000 in 2018, indicating a decrease of approximately 10.7%[26] - The current ratio for 2019 was 2.36, a decrease from 2.61 in 2018, suggesting a decline in short-term financial health[26] - The return on equity for 2019 was (9.04)%, worsening from (7.04)% in 2018, indicating a decline in profitability relative to equity[26] Revenue Breakdown - Revenue from electric vehicle charging equipment reached approximately RMB 144,915,000, marking an increase of about 28.95% compared to the previous year[40] - Revenue from power DC products was approximately RMB 133,064,000, reflecting a year-on-year increase of about 10.26%[39] - Revenue from electric vehicle charging services increased by 2.29%, reaching approximately RMB 18,200,000[42] - The company reported a significant decline in BOT contract construction revenue, achieving only RMB 1,292,000 compared to RMB 16,874,000 in the previous year[41] Market Strategy and Future Plans - The company plans to focus on market expansion and new product development in the upcoming year, aiming to enhance revenue streams[25] - The company plans to continue its strategy of "active change and refined management" to adapt to new market conditions and improve operational efficiency[33] - The company is expected to benefit from national policies promoting the development of new infrastructure, including electric vehicle charging stations[34] - The company aims to expand its customer base by focusing on clients with strong payment capabilities while phasing out less profitable projects[53] Research and Development - The management highlighted ongoing research and development efforts to innovate and improve existing technologies, which are expected to drive future growth[25] - The company plans to continue investing in R&D despite operational funding impacts in 2020, focusing on water-cooled charging modules and integrated energy storage systems[55] - The company has over 30 patents as of 2019 and will continue to invest in R&D to enhance product quality and innovation[167] Operational Efficiency - The inventory turnover period improved to 139 days in 2019 from 153 days in 2018, indicating better inventory management[26] - The company has integrated its investment operations and equipment sales into a unified business structure, improving operational efficiency and reducing management costs[49] - The company aims to optimize supply chain management to improve delivery efficiency and reduce costs[55] Corporate Governance - The company has adopted the corporate governance code as per the listing rules, ensuring compliance with applicable principles[99] - The board of directors is committed to maintaining high levels of corporate governance to enhance confidence among shareholders and stakeholders[99] - The company has established a remuneration committee and audit committee to oversee financial and operational performance[95] Employee Engagement and Development - The company emphasizes employee development with a clear career path and fair recruitment processes[181] - The company conducts annual training needs assessments to align training programs with employee roles and career development plans[185] - The company organizes annual employee representative meetings to gather feedback on occupational health and safety practices and address improvement suggestions[189] Environmental and Social Responsibility - The ESG report details the group's commitment to sustainable development and social responsibility throughout its operations in 2019[152] - The company is actively participating in environmental protection initiatives and promoting resource conservation within its operations[171] - The company recycled over 8 tons of metal and 5 tons of waste packaging materials in 2019[174] Risk Management - The board is responsible for the risk management and internal control systems, which are designed to manage risks rather than eliminate them[149] - The internal audit report submitted to the audit committee indicated no significant internal control deficiencies, affirming the effectiveness and adequacy of the group's risk management and internal control systems[150] - The company emphasizes continuous improvement in risk management and internal control as an ongoing process[150] Financial Health and Investments - The group's financial costs decreased by approximately 12.81% from RMB 11,074,000 to RMB 9,655,000, with the percentage of financial costs to revenue dropping from about 4.10% to 3.21%[66] - The total equity as of December 31, 2019, was RMB 544,344,000, down from RMB 592,013,000 in 2018[83] - Cash and cash equivalents increased to RMB 100,152,000 as of December 31, 2019, compared to RMB 83,955,000 in 2018[83]

TITANS China Titans Energy Technology Group Co., Limited 中國泰19能源技術集團有眼公司 於開曼群島註冊成立的有限公司 股票代號 : 2188 2019 中 期 報 告 * 僅供識別 1 中國泰坦能源技術集團有限公司 二零一九年中期報告 目錄 頁碼 公司資料 2 管理層討論及分析 4 簡明綜合中期財務資料 簡明綜合損益及其他全面收益表 20 簡明綜合財務狀況表 22 | --- | --- | --- | |-------|-------|-------| | | | 24 | | | | 25 | | | | 26 | 簡明綜合權益變動表 簡明綜合現金流量表 簡明綜合中期財務資料附註 其他資料 51 公司資料 | --- | --- | |------------|--------------------------------------| | | | | 董事會 | 執行董事 | | | 李欣青先生 （主席） | | | 安慰先生 （行政總裁） | | | 獨立非執行董事 | | | 李萬軍先生 | | | 張波先生 | | | 龐湛先生 | | ...

Financial Performance - In 2018, the company's revenue was RMB 270,204,000, a decrease of 17.6% from RMB 327,861,000 in 2017[9] - The gross profit for 2018 was RMB 82,231,000, down 27.3% from RMB 113,147,000 in 2017[9] - The net loss attributable to owners of the company for 2018 was RMB (40,168,000), compared to a profit of RMB 163,706,000 in 2017[9] - The company reported a comprehensive loss of RMB (42,260,000) in 2018 compared to a comprehensive income of RMB 54,626,000 in 2017[9] - The company's gross profit decreased by approximately 27.32% from RMB 113,147,000 in 2017 to RMB 82,231,000 in 2018, with a gross margin decline from 34.51% to 30.43%[50] - The company incurred a loss attributable to owners of approximately RMB 40,168,000, a significant decline from a profit of RMB 163,706,000 in the previous year[19] - The company's revenue decreased from RMB 327,861,000 in 2017 to RMB 270,204,000 in 2018, a decline of approximately 17.59% due to intensified market competition and adjustments in sales strategy[48] Assets and Liabilities - Total assets as of December 31, 2018, were RMB 983,542,000, a decrease from RMB 1,061,898,000 in 2017[9] - The capital debt ratio increased to 28.00% in 2018 from 20.90% in 2017, reflecting a higher proportion of debt in the capital structure[10] - Total bank loans and other borrowings as of December 31, 2018, were RMB 275,425,000, an increase from RMB 221,962,000 in 2017[75] - The company's total equity as of December 31, 2018, was RMB 592,013,000, down from RMB 657,435,000 in 2017[76] Operational Efficiency - The current ratio improved to 2.61 in 2018 from 2.03 in 2017, indicating better short-term financial health[10] - Inventory turnover days increased to 153 days in 2018 from 148 days in 2017, indicating slower inventory movement[10] - Trade receivables turnover days increased significantly to 333 days in 2018 from 267 days in 2017, suggesting longer collection periods[10] - The provision for impairment losses on trade receivables decreased by RMB 5,491,000, from RMB 7,294,000 in 2017 to RMB 1,803,000 in 2018, due to the effectiveness of the newly established trade receivables collection department[55] Market and Product Development - The company is focusing on expanding its market presence and developing new technologies to enhance operational efficiency[4] - The revenue from power DC products increased by approximately 24.34% to RMB 120,687,000, driven by the introduction of new products for the distribution network automation market[22] - The company achieved revenue of RMB 16,874,000 from BOT contracts, an increase of approximately RMB 10,039,000 compared to RMB 6,835,000 in the previous year[25] - The company is committed to expanding its market share by developing a complete business chain from planning, design, construction, equipment supply, to intelligent services in the electric vehicle charging sector[24] - The company is actively expanding its BOT projects, with a charging station in Foshan capable of servicing 104 electric buses, generating approximately RMB 16,870,000 in construction revenue[36] Customer Engagement and Satisfaction - The company has implemented a five-dimensional service system to enhance customer satisfaction and operational efficiency in charging services[32] - The company emphasizes customer satisfaction and feedback, which reflects the effectiveness of its efforts and value[170] - The company has established a customer communication system through various channels, including a 24-hour hotline, to enhance customer satisfaction[180] Corporate Governance - The board of directors held four meetings in 2018 to ensure effective governance and oversight of company strategies[114] - The company maintained compliance with corporate governance codes throughout 2018, ensuring transparency and accountability[110] - The board is responsible for corporate strategy, approving business plans, and overseeing financial performance[119] - The company has purchased appropriate insurance for directors and executives to cover liabilities arising from business operations[122] Environmental and Social Responsibility - The ESG report details the company's commitment to sustainable development and social responsibility, covering key performance indicators across its major subsidiaries[162] - The company has implemented a paperless office initiative, utilizing an Office Automation system that includes over 20,000 processes to reduce paper usage[184] - The company has recycled over 17 tons of metal and 8 tons of waste packaging materials in 2018[185] - The company promotes energy-saving measures, such as setting air conditioning to 26 degrees Celsius during summer to reduce electricity consumption[183] Employee Welfare and Development - Employee welfare includes a five-day work week, eight-hour workdays, and various paid leave options, alongside five types of social insurance and housing fund contributions[191] - The company offers competitive salaries based on job value, performance, and market standards, with annual performance awards and year-end bonuses to motivate employees[190] - The company emphasizes the importance of employee training and has established a comprehensive training system, including internal lecturer and mentor management systems[196] - Employee health is prioritized with annual health check-ups and support for families facing significant changes[191]