Company Overview - Gaopeng Mining Holdings Limited (stock code: 2212) is a marble mining company focused on the development of the Yiduoyan project, located in Hubei Province, China [2] - The Yiduoyan project has an estimated resource volume of approximately 10.7 million cubic meters and an estimated reserve of about 0.91 million cubic meters, according to JORC standards [2] - The company commenced limited commercial production in September 2014, with marble blocks being its main product [2] Financial Performance - As of December 31, 2024, Gaopeng Mining reported total operating revenue of 96.359 million yuan, representing a year-on-year increase of 23.95% [1] - The net profit attributable to shareholders was -18.848 million yuan, showing a year-on-year increase of 3.86% [1] - The gross profit margin stood at 3.12%, while the debt-to-asset ratio was 70.4% [1] Market Performance - On August 18, the Hang Seng Index fell by 0.37%, closing at 25,176.85 points [1] - Gaopeng Mining's stock price closed at 0.14 HKD per share, marking a 40.0% increase with a trading volume of 1.64 million shares and a turnover of 206,100 HKD, with a volatility of 42.0% [1] - Over the past month, Gaopeng Mining has experienced a cumulative decline of 20%, and a year-to-date decline of 22.48%, underperforming the Hang Seng Index, which has risen by 25.97% [1] Industry Valuation - The average price-to-earnings (P/E) ratio for the general metals and minerals industry (TTM) is -2.41 times, with a median of -0.13 times [1] - Gaopeng Mining's P/E ratio is -5.17 times, ranking 51st in the industry [1] - Comparatively, other companies in the industry have the following P/E ratios: Kangli International Holdings (2.27), Aide New Energy (2.68), Huagang United (2.98), Xinghe Holdings (3.03), and Xingye Alloy (3.42) [1]

Group 1 - The company, Gaopeng Mining (02212.HK), announced that its board meeting will be held on August 28, 2025, to consider and approve the unaudited interim results for the six months ending June 30, 2025, and the publication of the announcement [1] - The board will also consider the distribution of an interim dividend, if any [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Future Bright Mining Holdings Limited 高鵬礦業控股有限公司 執行董事 薛云飛 香港，2025年8月14日 於本公告日期，執行董事為孫海龍先生及薛云飛先生；非執行董事為陳進先生及朱敏女 士；及獨立非執行董事為劉智鵬教授 太平紳士 及黃雲龍女士。 （於開曼群島註冊成立之有限公司） （股份代號：2212） 董事會會議通知 高鵬礦業控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司之董事會會 議將於2025年8月28日（星期四）舉行，旨在考慮及批准（其中包括）本公司及其附屬公司 截至2025年6月30日止六個月的未經審核中期業績及其公告之刊發，以及考慮派發中期股 息（如有）。 承董事會命 高鵬礦業控股有限公司 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 高鵬礦業控股有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02212 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 16,000,000,000 | HKD | | 0.005 HKD | | | 80,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | | 0 | | 本月底結存 | | | 16,000,000,000 | HKD | | 0.005 HKD | | | 80,000,000 | 本月 ...

Financial Performance - The company's revenue for the fiscal year 2024 was approximately RMB 96.36 million, an increase of 23.95% compared to RMB 77.74 million in 2023[8]. - Gross profit rose to approximately RMB 3.01 million, representing a 107.02% increase from RMB 1.45 million in the previous year[7]. - The pre-tax loss decreased by 8.43% to RMB 19.26 million from RMB 21.03 million in 2023[7]. - The annual loss narrowed by 5.22% to RMB 18.82 million compared to RMB 19.85 million in 2023[7]. - The company reported a gross margin of approximately 3.12% for 2024, up from 1.87% in 2023[11]. - Revenue from the coal trading segment was approximately RMB 95.88 million, a significant increase from RMB 77.74 million in the previous year[9]. - Other income increased to approximately RMB 600,000, up from RMB 190,000 in 2023, primarily due to higher bank interest income[12]. - Loss attributable to owners of the company decreased by approximately 3.86% to RMB 18,850,000 for the current fiscal year[17]. - The gross profit margin for the year is 3.12%, an increase from 1.87% in 2023, primarily due to the recovery of coal trading operations and the sale of marble waste[116]. - The return on equity is -40.06%, improved from -59.86% in 2023[116]. - The total comprehensive loss for the year was RMB 18,288,000, compared to RMB 19,585,000 in 2023, indicating a reduction in overall losses[197]. Assets and Equity - The total assets of the company increased by 15.10% to RMB 158.66 million from RMB 137.85 million in 2023[7]. - The equity attributable to the owners of the company rose by 41.50% to RMB 46.97 million compared to RMB 33.19 million in the previous year[7]. - As of December 31, 2024, total equity attributable to the company's owners is RMB 46,969,000, an increase from RMB 33,193,000 as of December 31, 2023, representing a growth of 41.5%[200]. - The company's share premium is RMB 162,228,000, with accumulated losses of RMB (99,893,000)[125]. Operational Developments - The company is preparing for the expansion of the Yiduo Rock project, although no mining activities were conducted during the year[8]. - The group incurred development expenses of approximately RMB 13,310,000 for the expansion of the Yiduo Rock project in the current fiscal year, compared to RMB 60,160,000 in the 2023 fiscal year[27]. - The Yiduo Rock project has a renewed mining license valid for 20 years, allowing an annual production capacity of 540,000 tons (approximately 200,000 cubic meters), significantly up from the previous capacity of 20,000 cubic meters[29]. - The company is actively seeking to recruit more professionals with mining expertise to support the development of the Yiduo Rock project[37]. - The company plans to expand trade operations to other regions in China to mitigate potential impacts from local lockdowns[43]. - The company plans to diversify risks by developing coal trading business to offset the temporary impact on the marble block division[44]. Governance and Compliance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value, accountability, and transparency[65]. - The board of directors is responsible for formulating and approving the overall development and business strategies, major operational plans, and significant investment projects[68]. - The company has adopted the standard code of conduct for directors regarding the trading of company securities, ensuring compliance with regulations[66]. - The board has confirmed compliance with the corporate governance code, including the appointment of at least three independent non-executive directors, constituting at least one-third of the board[74]. - The company has established a framework for monitoring compliance with legal and regulatory requirements, including training for directors and senior management[72]. - The company has implemented a shareholder communication policy to ensure effective information dissemination[102]. - The company has a policy for handling and disclosing inside information to comply with relevant regulations[99]. Risk Management - The group faces significant operational risks, including reliance on a single mining project, which may impact financial performance if development delays occur[35]. - The ongoing debt crisis in China's real estate sector has led to clients requesting order delays and reducing marble block orders, increasing the risk of defaults[42]. - The company has implemented a robust internal control and risk management system, which is regularly reviewed by the board[97]. - The company is committed to stricter internal control and risk management procedures in the upcoming fiscal year[97]. Financial Reporting and Audit - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2024, in accordance with international financial reporting standards[172]. - The group has implemented internal controls related to revenue recognition, which were evaluated for effectiveness during the audit[176]. - The company has been proactive in ensuring compliance with accounting standards and regulations, as evidenced by the auditor's adherence to Hong Kong auditing standards[173]. - The independent non-executive directors bring diverse expertise, including accounting, finance, and safety management, to the board[169][170]. Future Outlook - The group expects to resume production around the third quarter of 2025 after obtaining all necessary permits[50]. - The company aims to explore commodity trading to diversify income sources and improve financial performance[51]. - The company may consider raising funds in the future to maintain a higher level of cash security[47].

Financial Performance - Revenue increased by 23.95% to approximately RMB 96,359,000[3] - Gross profit rose from approximately RMB 1,450,000 to approximately RMB 3,010,000, representing a 107.02% increase[3] - Pre-tax loss narrowed by 8.43% to RMB 19,259,000[3] - Annual loss decreased by 5.22% to RMB 18,816,000[3] - Basic and diluted loss per share improved to RMB 1.80 from RMB 2.23, a reduction of 19.28%[3] - Revenue for the year ended December 31, 2024, reached RMB 96,359,000, an increase of 23.8% compared to RMB 77,739,000 in 2023[31] - The group reported a pre-tax loss of RMB 19,259,000 for 2024, compared to a loss of RMB 21,031,000 in 2023, indicating an improvement[40] - The loss attributable to the owners of the company decreased by about 3.86% to RMB 18,850,000 from RMB 19,600,000 in the previous fiscal year[80] Assets and Liabilities - Total assets increased by 15.10% to RMB 158,662,000[5] - Total assets as of December 31, 2024, amounted to RMB 158,662 thousand, an increase from RMB 137,849 thousand in 2023, showing a growth of 15.1%[23][24] - The total liabilities for the group as of December 31, 2024, were RMB 111,693 thousand, compared to RMB 104,687 thousand in 2023, representing an increase of 6.4%[23][24] - The group's debt-to-equity ratio improved to 0.99 as of December 31, 2024, down from 1.98 a year earlier[119] - The current ratio as of December 31, 2024, was approximately 1.10, compared to 1.46 on December 31, 2023[119] Cash Flow and Investments - Cash and cash equivalents increased to RMB 20,293,000 from RMB 13,092,000[12] - Capital expenditures for the year 2024 totaled RMB 1,172 thousand, a decrease from RMB 84,365 thousand in 2023, indicating a significant reduction in investment[23][24] - Other income, including bank interest, rose to RMB 604,000 in 2024 from RMB 191,000 in 2023, marking a significant increase of 215.7%[37] - Finance costs increased to RMB 6,259,000 in 2024, up from RMB 4,236,000 in 2023, primarily due to higher borrowing costs[38] Segment Performance - The adjusted loss before tax for the marble block segment was RMB 2,412 thousand in 2024, compared to a loss of RMB 2,159 thousand in 2023, indicating a decline in performance[23][24] - The trading segment reported a profit of RMB 1,561 thousand in 2024, up from a profit of RMB 577 thousand in 2023, reflecting a strong improvement in this area[23][24] - Revenue from the coal trading segment was approximately RMB 95,880,000, up from RMB 77,740,000 in the 2023 fiscal year, reflecting a recovery in business operations[68] - Revenue from the marble and related business segment was approximately RMB 480,000 for the fiscal year, as the company prepared for the expansion of the Yiduo Rock project[83] Shareholder Returns - The company did not recommend a final dividend for the year ending December 31, 2024[3] - The company did not recommend any dividend payment for the year ended December 31, 2024, consistent with 2023[45] - The board has proposed not to declare a final dividend for the year[140] Compliance and Governance - The company has adopted the corporate governance code as per the listing rules and has complied with applicable provisions during the year[136] - The board of directors confirmed compliance with the standard code regarding securities trading throughout the year[138] - The group's financial statements have been audited by a qualified firm, which is willing to accept reappointment at the upcoming annual general meeting[141] Future Outlook and Strategy - The company plans to continue focusing on market expansion and product development to drive future growth[31] - The company aims to become a well-known supplier of marble blocks in China, with strategies including the development of the Yiduo Rock project and selective acquisitions to expand resource volume and reserves[112] - The company is actively seeking suppliers for coal based on type, quality, quantity, and price to meet customer demands following the recovery of coal trading operations[68] - The company is monitoring market demand and customer preferences closely to mitigate risks associated with reliance on a single type of marble product[104] Risks and Challenges - The company faces risks related to reliance on a single mining project, which may affect its revenue and cash flow if development delays occur[102] - The company has identified various operational risks, including unexpected maintenance issues and natural disasters, which could significantly impact its business performance[105] Environmental and Regulatory Compliance - The company has implemented various measures to minimize environmental impact and comply with relevant environmental laws and regulations[87] - The company has complied with all applicable laws and regulations in Hong Kong and China during the fiscal year, obtaining all necessary approvals and licenses for its operations[89]

Revenue and Profitability - The operating revenue for the six months ended June 30, 2024, was approximately RMB 44,900,000, an increase of about 289.42% compared to RMB 11,530,000 for the same period in 2023[4] - Revenue from commodity trading rose significantly to approximately RMB 44,900,000, compared to RMB 11,530,000 in the previous period, with a gross margin of about 2.43%[15] - Gross profit rose to approximately RMB 1,090,000, compared to RMB 46,000 for the same period in 2023, with a gross margin of 2.43% for the current period[7] - The company reported a loss before tax of RMB 9,883,000, slightly better than the loss of RMB 10,119,000 recorded in the same period last year[52] - The company reported a basic loss attributable to ordinary equity holders of RMB 9,742,000 for the six months ended June 30, 2024, compared to a loss of RMB 9,622,000 for the same period in 2023[81] Expenses and Costs - The sales cost increased from approximately RMB 11,480,000 to about RMB 43,800,000, representing a growth of approximately 281.53% due to coal trading activities[6] - Administrative expenses rose by approximately RMB 1,100,000 or 16.85% to about RMB 7,630,000, driven by increased employee costs and depreciation from office renovations[9] - Financial costs increased from approximately RMB 480,000 to about RMB 3,580,000, primarily due to interest on mining rights and loans[12] - The company incurred management compensation of RMB 1,929,000 for the six months ended June 30, 2024, an increase from RMB 1,539,000 in the same period of 2023, indicating higher personnel costs[92] Assets and Liabilities - The company's non-current assets decreased from RMB 119,152,000 as of December 31, 2023, to RMB 117,005,000 as of June 30, 2024, a decline of approximately 1.8%[57] - Current assets significantly increased from RMB 18,697,000 to RMB 50,039,000, representing a growth of about 167.5%[57] - The company's total liabilities increased from RMB 12,782,000 to RMB 36,890,000, marking an increase of approximately 187.5% in current liabilities[58] - The equity attributable to the owners of the company increased from RMB 33,162,000 to RMB 55,685,000, representing a growth of approximately 67.8%[58] Cash Flow and Financing - As of June 30, 2024, the company had cash and cash equivalents of approximately RMB 44,580,000, up from RMB 13,090,000 at the end of 2023[27] - The company achieved a net cash inflow from financing activities of RMB 29,447 thousand, significantly up from RMB 7,847 thousand in the previous year[62] - The company reported a net cash flow from operating activities of RMB 1,580 thousand, compared to a net cash outflow of RMB 10,014 thousand in the same period of 2023[61] - The company raised RMB 32,128 thousand from share placements during the period, indicating a strong capital-raising effort[62] Business Operations and Projects - The coal trading business experienced a significant recovery, leading to a substantial increase in revenue during the current period[4] - The company is currently expanding the Yueduo Rock project, which has not yet commenced mining operations[4] - The company plans to expand its marble and related business, expecting stable growth in the coming years[20] - The marble block segment did not generate any revenue during the current period, consistent with the previous period[4] Compliance and Governance - The audit committee reviewed the financial results and confirmed compliance with relevant accounting standards and disclosure requirements[51] - The board approved the interim financial statements on August 26, 2024, ensuring timely reporting and compliance with regulatory requirements[99] - The company did not declare an interim dividend for the period ending June 30, 2024[25] Other Financial Information - The company recorded a foreign exchange gain of RMB 105,000 from overseas operations, down from RMB 495,000 in the previous year, indicating a decrease of about 78.8%[55] - The company reported a tax provision of RMB 25,000 for the current period, consistent with the previous year[80] - The company did not engage in any purchase, sale, or redemption of its listed securities during the reporting period[44] - There were no significant events requiring disclosure after June 30, 2024, up to the report date[49]

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 或任何部分內容而產生或因倚賴該等內容引致的任何損失承擔任何責任。 Future Bright Mining Holdings Limited 高鵬礦業控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2212） 截 至2024年6月30日止六個月 中期業績公告 高 鵬 礦 業 控 股 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 提 呈 本 公 司 及 其 附 屬 公 司（統 稱「本集團」）截 至2024年6月30日 止 六 個 月（「本期間」）的 未 經 審 核 簡 明綜合中期業績，連同2023年同期比較數字如下： 中期簡明綜合損益表 截 至2024年6月30日止六個月 | --- | --- | --- | --- | |------------------------------|---------|--------------|--------------| | | | 2024 年 | 2023 年 | | | | （未經審 ...

Financial Performance - Revenue for 2023 reached RMB 77.74 million, an increase of 21.69% compared to RMB 63.88 million in 2022[10] - Gross profit decreased to approximately RMB 1.45 million, representing a decline of 83.04% from RMB 8.58 million in the previous year[8] - The company reported a pre-tax loss of RMB 21.03 million, which is a 169.63% increase from a loss of RMB 7.80 million in 2022[8] - The annual loss for 2023 was RMB 19.85 million, up 122.28% from RMB 8.93 million in 2022[8] - The coal trading segment generated revenue of approximately RMB 77.74 million, up from RMB 56.32 million in 2022[10] - The cost of sales increased by 37.93% to RMB 76.29 million from RMB 55.31 million in the previous year[11] - The gross margin for 2023 was approximately 1.87%, down from 13.42% in 2022[14] - Other income for the year was approximately RMB 190,000, a decrease of about RMB 300,000 or 61.22% compared to RMB 490,000 in the 2022 fiscal year, primarily due to a reduction in government subsidies and miscellaneous income[15] - Administrative expenses increased by approximately RMB 840,000 or 5.68% to about RMB 15,640,000 from RMB 14,800,000 in the 2022 fiscal year[16] - Financial costs rose significantly from approximately RMB 320,000 in the 2022 fiscal year to about RMB 4,240,000 in the current year, mainly due to interest on mining rights payables and loans from independent third parties[21] - Loss attributable to the owners of the company increased by 121.09% to approximately RMB 19,600,000, compared to RMB 8,870,000 in the 2022 fiscal year, driven by a significant decrease in gross profit and increased financial costs[22] - The gross profit margin for the year was 1.87%, a significant decrease from 13.42% in 2022, primarily due to the suspension of mining operations and adverse impacts from a coal mining accident in Inner Mongolia[132] - The return on equity was -59.86%, compared to -17.67% in 2022, indicating a decline in shareholder value[132] Asset and Equity Changes - Total assets increased by 86.07% to RMB 137.85 million from RMB 74.09 million in 2022[8] - Equity attributable to owners decreased by 36.81% to RMB 33.19 million from RMB 52.53 million in the previous year[8] - As of December 31, 2023, the company's distributable reserves are RMB 130.899 million in share premium and a cumulative loss of RMB 87.791 million[143] Operational Highlights - The company did not generate any revenue from the marble block segment in 2023, compared to RMB 7.56 million in 2022[10] - Other operating expenses decreased from approximately RMB 7,780,000 in the 2022 fiscal year to about RMB 2,730,000, attributed to the absence of bad debt write-offs[20] - The company has not conducted any mining activities during the fiscal year, resulting in zero production and sales of marble blocks, maintaining the cost per cubic meter at zero[33] - The company anticipates that the current decline in the marble business will be temporary, with stable growth expected in the coming years[54] - The company plans to diversify risks by developing coal trading business to offset temporary impacts from the marble raw material segment[47] Project Development - The company has successfully renewed the mining license for the Yiduo Rock project, extending the mining rights for 20 years from July 12, 2023, to July 12, 2043, covering an area of 0.3973 square kilometers with an annual production capacity of 540,000 tons[35] - Development expenditures for the Yiduo Rock project amounted to approximately RMB 60,160,000 in the fiscal year 2023, a significant increase from RMB 1,290,000 in the fiscal year 2022[32] - As of December 31, 2023, the total marble resource amount for the Yiduo Rock project is reported at 16.20 million cubic meters, with inferred resources of 6.10 million cubic meters and controlled resources of 10.10 million cubic meters[36] - The total industrial limestone resource amount for the Yiduo Rock project is reported at 13.80 million cubic meters, contributing to a total resource amount of 30.00 million cubic meters[36] - The company plans to allocate approximately HKD 13,000,000 (about RMB 11,370,000) to expand the production scale of the Yiduo Rock project[135] Governance and Compliance - The company has maintained compliance with all applicable laws and regulations in Hong Kong and China during the year, ensuring all necessary approvals and licenses for its operations[30] - The company maintains a high level of corporate governance to protect shareholder interests and enhance corporate value[72] - The board confirmed that there are no guarantees or collateral provided to the bank regarding the loan dispute, and they believe the directive will not significantly impact operations[69] - The company has adopted a standard code of conduct for securities trading by directors, ensuring compliance with regulations[75] - The board has established key performance indicators to measure the effectiveness of its strategies, focusing on maximizing shareholder value and enhancing customer satisfaction[132] Management and Personnel - The company employs a total of 28 full-time employees as of December 31, 2023, down from 39 employees as of December 31, 2022[61] - The company is actively seeking to recruit more mining professionals to support the development and management of the Yiduo Rock project, addressing the risk of limited mining talent[41] - The company has a strong management team with extensive experience in finance and mining operations, enhancing operational efficiency[198] - The management team includes Mr. Lv Bin, who has a strong background in mining operations and cost management, having held senior positions in multiple companies since 1991[187] Risk Management - The company has identified several operational risks, including unexpected maintenance issues and adverse weather conditions, which could significantly impact its business and financial performance[46] - The company is committed to maintaining high standards of financial reporting and governance, as evidenced by the reappointment of its external auditor[182] - The board is satisfied with the current risk management and internal control systems, which are regularly reviewed to ensure effectiveness and compliance with applicable laws[110] Shareholder Engagement - The company has established a shareholder communication policy to ensure effective communication and engagement with shareholders[117] - The annual general meeting serves as a platform for shareholders to communicate with the board and raise questions[117] - The company has reviewed its shareholder communication policy and found it effective in achieving good communication with shareholders[118]

Revenue and Profitability - Revenue increased by 21.69% to approximately RMB 77,740,000[3] - The total revenue for the year ended December 31, 2023, was RMB 77,739,000, with a significant increase from RMB 63,884,000 in 2022, representing a growth of approximately 21.6%[21] - Revenue from customer contracts for the year ended December 31, 2023, was RMB 77,739,000, an increase from RMB 63,884,000 in 2022, representing a growth of 21.6%[28] - The coal trading business generated revenue of approximately RMB 77,740,000 this year, compared to RMB 56,320,000 in the 2022 fiscal year[66] - The group's operating revenue for the year was approximately RMB 77,740,000, an increase of about 21.69% compared to RMB 63,880,000 in the 2022 fiscal year[64] - The group’s revenue from coal sales in 2023 was RMB 77,739,000, while revenue from marble block sales was RMB 7,563,000 in 2022[29] Loss and Financial Performance - Loss before tax increased by 169.63% to RMB 21,031,000[3] - Annual loss attributable to owners of the company increased by 121.09% to approximately RMB 19,604,000[5] - Basic and diluted loss per share was RMB 2.23, compared to RMB 1.01 in 2022, representing an increase of 120.79%[5] - The adjusted loss before tax for the year was RMB 21,031,000, compared to a loss of RMB 7,800,000 in the previous year, indicating a decline in profitability[21] - The group reported a pre-tax loss of RMB 21,031,000 for the year 2023, worsening from a loss of RMB 7,800,000 in 2022[40] - The net loss attributable to the owners of the company increased by 121.09% to approximately RMB 19,600,000 from RMB 8,870,000 in the previous fiscal year[78] Assets and Liabilities - Total assets increased by 86.07% to RMB 137,849,000[5] - The total assets as of December 31, 2023, amounted to RMB 137,849,000, compared to RMB 74,086,000 in 2022, indicating a growth of approximately 86%[21] - The total liabilities increased to RMB 104,687,000 in 2023 from RMB 23,543,000 in 2022, suggesting a significant rise in financial obligations[21] - Cash and cash equivalents decreased from RMB 31,223,000 to RMB 13,092,000[11] - The group's current ratio as of December 31, 2023, was approximately 1.46, compared to 1.93 as of December 31, 2022[120] Expenses and Costs - Gross profit decreased by 83.04% to approximately RMB 1,454,000, resulting in a gross margin drop from approximately 13.42% to 1.87%[3][5] - The cost of goods sold for the year 2023 was RMB 76,285,000, compared to RMB 55,309,000 in 2022, indicating an increase of 37.9%[36] - The group's cost of sales increased by approximately 37.93% to about RMB 76,290,000 from RMB 55,310,000 in the previous fiscal year[67] - Other income for 2023 totaled RMB 191,000, down from RMB 491,000 in 2022, reflecting a decrease of 61.1%[34] - Financial costs rose significantly to approximately RMB 4,240,000 from RMB 320,000 in the previous fiscal year[76] - Administrative expenses increased by approximately 5.68% to RMB 15,640,000 from RMB 14,800,000 in the previous fiscal year[71] Investments and Capital Expenditures - The capital expenditure for the year was RMB 84,365,000, which includes investments in property, plant, and equipment, showing a substantial increase from RMB 230,000 in 2022[21] - Development expenditures for the Yiduo Rock project amounted to approximately RMB 60,160,000 this year, compared to RMB 1,290,000 in the previous fiscal year[90] - The company has secured a total of RMB 58,124,000 in long-term borrowings in 2023, compared to RMB 7,727,000 in short-term borrowings in 2022[59] Mining and Project Development - The company has successfully renewed the mining license for the Yiduo Rock project, allowing for a production scale of 540,000 tons per year, significantly up from the previous 20,000 cubic meters[93] - The total resource amount for the Yiduo Rock project is reported at 30 million cubic meters, including 16.2 million cubic meters of marble[96] - The Yiduo Rock project is currently in the development stage and is undergoing comprehensive expansion, with the group's revenue and cash flow heavily reliant on this single project[101] - Production is expected to resume in Q3 2024 as the group plans to expand the marble mining area and complete necessary construction work for expanded mining facilities[117] Future Outlook and Strategy - The group aims to diversify its revenue sources by continuing to develop its commodity trading business, in addition to coal trading, and will seek other attractive opportunities as they arise[118] - The group is cautiously optimistic about the future of its marble business, expecting temporary downturns but stable growth in the coming years[113] - The group intends to enhance its resource volume and reserves through selective acquisitions and to develop brand recognition for its products[112] - The group plans to expand its trade business to other regions in China to minimize the impact of potential lockdowns on operations[105] - The group may consider raising additional funds in the future to maintain a higher level of cash security for its development plans[108] Regulatory and Compliance - The company has not yet applied new international financial reporting standards that may impact future financial statements, indicating a cautious approach to regulatory changes[18] - The company is currently evaluating the expected impact of new accounting standards that will come into effect in 2024 and beyond, which may influence future financial reporting[18] - The group has established an audit committee composed of independent non-executive directors to oversee the annual performance review[135] Shareholder and Dividend Information - The company did not recommend the payment of a dividend for the year ended December 31, 2023[5] - The board of directors has proposed not to declare a final dividend for the year[144] - The company successfully placed a total of 175,543,200 shares at a price of HKD 0.205 per share, raising approximately HKD 35,200,000 for project development and general working capital[143]