香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 有關截至二零二四年十二月三十一日止年度年報的補充公告 茲提述中国石墨集团有限公司（「本公司」）於二零二五年四月十日刊發的截至二零 二四年十二月三十一日止年度的年報（「二零二四年年報」）。除另有界定外，本公 告所用詞彙與二零二四年年報所界定者具有相同涵義。本公告提供二零二四年年 報的補充資料，並應與二零二四年年報一併閱讀。 購股權計劃 除 二 零 二 四 年 年 報 所 提 供 的 資 料 外 ， 本 公 司 謹 此 根 據 上 市 規 則 第 17.07 (2 ) 、 第 17.07 (3)條及第17.07 (9)條向本公司股東及潛在投資者提供以下有關購股權計劃的 額外資料。 (a) 可供授出及發行的購股權數目 於二零二四年一月一日及二零二四年十二月三十一日，根據計劃授權可供授 出的 購 股 權數 目 各為 160,000,000 份。 ...

最近一个月来，中国石墨累计跌幅12.7%，今年来累计跌幅24.66%，跑输恒生指数17.65%的涨幅。 5月26日，截至港股收盘，恒生指数下跌1.35%，报23282.33点。中国石墨（02237.HK）收报0.31港元/ 股，上涨12.73%，成交量161万股，成交额47.72万港元，振幅14.55%。 资料显示，中国石墨集团有限公司主要在中国从事鳞片石墨精矿及球形石墨的生产及销售。公司拥有两 个主要运营实体,即黑龙江省宝泉岭农垦溢祥石墨有限公司("溢祥石墨")及黑龙江省宝泉岭农垦溢祥新能 源材料有限公司("溢祥新能源")。于二零零六年六月,公司开展营运,并成立溢祥石墨,从事鳞片石墨精矿 (碳含量主要介乎94%至96.8%)选矿。于二零一一年四月,公司扩充业务,成立溢祥新能源,从事加工球形石 墨及北山矿场的开采营运。于二零一九年,公司获得位于黑龙江省萝北县西北约28公里处的石墨矿采矿 权并开始在该处进行开采。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 本文源自：金融界 作者：行情君 财务数据显示，截至2024年12月31日，中国石墨实现营业总收入1.42亿元，同比减 ...

Financial Performance - For the fiscal year 2024, total revenue was approximately RMB 142.4 million, a decrease of about 29.5% compared to RMB 201.9 million in fiscal year 2023[4]. - Sales revenue from spherical graphite and its by-products was approximately RMB 29.4 million, down 70.5% from RMB 99.6 million in the previous fiscal year[4]. - Sales revenue from flake graphite concentrate increased by 7.5% to approximately RMB 109.0 million, compared to RMB 101.3 million in fiscal year 2023[4]. - Gross profit for fiscal year 2024 was approximately RMB 41.6 million, a decrease of 43.6% from RMB 73.7 million in fiscal year 2023, with a gross margin decline from 36.5% to 29.2%[4]. - The net loss for fiscal year 2024 was approximately RMB 12.5 million, compared to a net profit of RMB 21.3 million in fiscal year 2023, representing a decline of 158.6%[4]. - The decline in sales prices, particularly for spherical graphite products, was attributed to a slowdown in the downstream anode industry and intensified competition in the graphite market[4]. - Total revenue for the fiscal year 2024 was approximately RMB 142.4 million, a year-on-year decrease of 29.5% due to weak market demand in the natural graphite industry and intense competition[14]. - The gross profit for the fiscal year 2024 was approximately RMB 41.6 million, a decrease of 43.6% year-on-year, with a gross margin of 29.2%, down 7.3 percentage points[14]. - The company recorded a net loss of approximately RMB 12.5 million for the fiscal year 2024, compared to a net profit of approximately RMB 21.3 million in the previous year[14]. - Revenue from sales of spherical graphite and its by-products accounted for approximately 20.7% of total revenue in FY2024, down from 49.3% in FY2023[44]. - The sales revenue from flake graphite concentrates increased to RMB 108.966 million in FY2024, representing 76.5% of total revenue[43]. - The company recorded a tax credit of approximately RMB 1.0 million for fiscal year 2024, compared to a tax expense of approximately RMB 2.8 million for fiscal year 2023[57]. - The adjusted net loss under non-Hong Kong Financial Reporting Standards for fiscal year 2024 was RMB 15.9 million, down from an adjusted profit of RMB 18.7 million in fiscal year 2023[59]. Production and Sales - Sales volume of spherical graphite was 3,089 tons, a decrease of 52.0% year-on-year, with a gross margin of 16.6%, down 18.9 percentage points[15]. - The total production of spherical graphite is planned to decrease from approximately 8,700 tons in fiscal year 2023 to approximately 3,200 tons in fiscal year 2024[15]. - The total sales volume of flake graphite concentrate in fiscal year 2024 was 45,432 tons, compared to 36,348 tons in fiscal year 2023[46]. - Revenue from flake graphite concentrate sales increased to approximately RMB 109.0 million in fiscal year 2024, up by about 7.5% from RMB 101.3 million in fiscal year 2023[47]. - Revenue from spherical graphite sales dropped significantly to approximately RMB 29.4 million in fiscal year 2024, a decrease of about 70.5% from RMB 99.6 million in fiscal year 2023[47]. Strategic Focus and Market Adaptation - The company has shifted its focus to increase sales of flake graphite concentrate to maintain profitability amid challenging market conditions[4]. - The company is exploring new strategies for market expansion and product development to adapt to the evolving market landscape[4]. - The company plans to adopt a conservative strategy for business expansion and development in response to market changes during the industry's turbulent period[23]. - The company aims to strengthen its competitiveness in the anode materials sector while maintaining its core business in refractory materials manufacturing[23]. - The company aims to enhance employee engagement and accountability to achieve long-term sustainable growth and success in the graphite industry[97]. - In 2024, the company will focus on business expansion, customer satisfaction, operational safety and efficiency, and environmentally friendly production[97]. Research and Development - The company continues to enhance its research and development capabilities, focusing on innovative processes in the natural graphite industry[19]. - Research and development expenses decreased to approximately RMB 10.9 million in fiscal year 2024, a reduction of about 36.5% from RMB 17.2 million in fiscal year 2023[55]. Corporate Governance - The company has adhered to all applicable corporate governance code provisions during the reporting period, except for a specific provision related to the chairman and CEO[98]. - The board of directors is responsible for overseeing the company's overall strategy and financial performance, including risk management and compliance with legal regulations[99]. - The board consists of two executive directors and four independent non-executive directors, ensuring a strong independent element in its composition[106]. - The company has established a robust internal control system to monitor financial performance and risk management[99]. - The audit committee consists of four members, including Mr. He as the chairman, who has appropriate accounting and financial management expertise[114]. - The company has established various committees, including the audit committee, remuneration committee, nomination committee, and compliance committee, operating under the board's adopted terms of reference[112]. - The board has confirmed the effectiveness of the risk management and internal control systems during the reporting period[133]. Shareholder Information - The company did not recommend a final dividend for the fiscal year 2024, consistent with no dividend in fiscal year 2023[169]. - The company has a rigorous and ongoing strategic planning process to identify and assess opportunities and challenges, creating a planned action plan for sustainable long-term value for shareholders[97]. - The company has established long-term stable relationships with its top five customers and suppliers[159]. - The company emphasizes the importance of maintaining good relationships with stakeholders to achieve long-term goals[158]. Environmental Commitment - The company is committed to sustainable development and reducing energy consumption to minimize environmental impact[166].

转自：前瞻产业研究院 行业主要上市公司：贝特瑞(835185);方大炭素(600516);德尔未来(002631);沃特股份(002886);二维碳素 (833608)等 本文核心数据：市场规模等 产业概况 1、定义 石墨烯，是一种由碳原子以sp²杂化轨道组成六角型呈蜂巢晶格的二维碳纳米材料。应用于物理、材 料、电子信息、计算机等众多领域，具有较好的额导热性、光学特性和稳定性。石墨烯虽然从合成和证 实存在到今天只有短短十几年的时间，但目前已经得到了较为广泛的应用。石墨烯层数可分为单层石墨 烯、少层石墨烯和多层石墨烯;按照功能化形式可以分为氧化石墨烯、氢化石墨烯、氟化石墨烯等;按照 产品形态又可分为石墨烯粉体和石墨烯薄膜。 | 特点 | 描述 | 主要应用 | | --- | --- | --- | | 高导电性 | 载流子迁移率室温下约为 15000cm2/ (V·s),超过硅材料 的10倍 > | 芯片、导电剂、传感器、锂电池 | | 高导热性 | 纯的无缺陷的单层石墨烯的导热系数高达 5300W/(m·K), 高于碳纳米管和金刚石 | 散热元件、导热元件 | | 高强度 | 破坏强度 42M/m,是钢铁的 ...

转自：前瞻产业研究院 行业主要上市公司：贝特瑞(835185);方大炭素(600516);德尔未来(002631);沃特股份(002886);二维碳素 (833608)等 本文核心数据：投融资及兼并重组事件 1、石墨烯行业投资热度有所下降 整体来看，我国石墨烯行业投融资事件主要集中在2021年之后，其中2023年投融资事件数量最多，达到 了20起;2024年中国石墨烯行业投融资数量下降至6起。 注：上述统计时间截止2025年1月21日，下同。 2、石墨烯行业处于快速发展阶段 从石墨烯的投资轮次分析，目前石墨烯行业的融资处于快速发展阶段。目前石墨烯行业投融资轮次主要 集中在天使轮、A轮，具体来看，天使轮的投融资事件最多，达到了19起。 烯牛数据 图表3:2016-2024年中国石墨烯行业代表企业融资事件汇总(一) | 融资时间 | 融资方 | 融资轮次 | 融资金额 | 投资方 | 融资方主营业务 | | --- | --- | --- | --- | --- | --- | | 2024年11月 | 德烯科技 | 股权投资 | 未披露 | 精工科技 | 单层石墨烯及其宏 | | | | | | | 观组装材料 ...

▲免费服务一年，定制报告，市场需求或课题调研，欢迎来电咨询 ！！！ 1 石墨化阴极碳块市场概述 1.1 石墨化阴极碳块行业概述及统计范围 1.2.3 石墨阴极碳块 1.2 按照不同产品类型，石墨化阴极碳块主要可以分为如下几个类别 1.2.1 全球不同产品类型石墨化阴极碳块规模增长趋势2020 VS 2024 VS 2031 1.2.2 半石墨阴极碳块 1.2.4 石墨化阴极碳块 1.3 从不同应用，石墨化阴极碳块主要包括如下几个方面 1.3.1 全球不同应用石墨化阴极碳块规模增长趋势2020 VS 2024 VS 2031 1.3.2 <200 KA 1.3.3 200-300 KA 1.3.4 >300 KA 1.4 行业发展现状分析 1.4.1 石墨化阴极碳块行业发展总体概况 1.4.2 石墨化阴极碳块行业发展主要特点 1.4.3 石墨化阴极碳块行业发展影响因素 1.4.3.1 石墨化阴极碳块有利因素 2025-2031全球及中国石墨化阴极碳块市场，研制生产及需求规模研究报告 【市场人员】：张炜 【出版机构】：智信中科研究网 ▲资料来源：更多资料请参考智信中科研究网发布内容！！！ 1.4.3.2 石墨化阴 ...

Financial Performance - For the fiscal year 2024, total revenue decreased by approximately 29.5% to RMB 142.4 million from RMB 202.0 million in fiscal year 2023[5]. - Sales revenue from spherical graphite and its by-products dropped by approximately 70.5% to RMB 29.4 million compared to RMB 99.6 million in the previous fiscal year[5]. - Sales revenue from flake graphite concentrate increased by approximately 7.5% to RMB 109.0 million from RMB 101.3 million in fiscal year 2023[5]. - Gross profit for fiscal year 2024 was approximately RMB 41.6 million, a decrease of about 43.6% from RMB 73.7 million in fiscal year 2023, with a gross margin decline from 36.5% to 29.2%[5]. - The net loss for fiscal year 2024 was approximately RMB 12.5 million, compared to a net profit of RMB 21.3 million in fiscal year 2023, representing a decline of 158.6%[5]. - Total revenue for the fiscal year ending December 31, 2024, was approximately RMB 142.4 million, a year-on-year decrease of 29.5% due to low demand in the natural graphite market and intense competition[14]. - The company recorded a net loss of approximately RMB 12.5 million for the year, compared to a net profit of approximately RMB 21.3 million in the previous year[14]. - Revenue from spherical graphite and its by-products decreased from approximately RMB 996 million in FY2023 to about RMB 294 million in FY2024, a decline of approximately 70.5%[47]. - Revenue from flake graphite concentrate increased from approximately RMB 1,013 million in FY2023 to about RMB 1,090 million in FY2024, an increase of approximately 7.5%[47]. - Total revenue from graphite products decreased to approximately RMB 1,384 million in FY2024, down from approximately RMB 2,010 million in FY2023, a decline of approximately 31.1%[47]. Production and Operations - The company reduced production of spherical graphite due to a slowdown in the downstream anode industry and intensified competition in the graphite market[5]. - The total production of spherical graphite is planned to decrease from approximately 8,700 tons in the previous fiscal year to about 3,200 tons in the current fiscal year[15]. - Sales volume of spherical graphite was 3,089 tons, a decrease of 52.0% year-on-year, with a gross margin of 16.6%, down 18.9 percentage points[15]. - The company focused on mining activities and waste removal at the North Mountain mine, with a total of 2,667,000 tons of material mined in FY2024, including 2,176,000 tons of unprocessed marble and waste[41]. - The company is applying for mining rights for graphite resources below 150 meters elevation at the Beishan mine, with an estimated total resource of approximately 54.9 million tons[16]. - A new beneficiation plant and processing facility are under construction at the Beishan mine to ensure sustainable future capacity growth[17]. - The company completed the acquisition of industrial land in Weihai, Shandong Province, to prepare for downstream supporting facilities[17]. Governance and Management - The board of directors includes executive directors Zhao Liang and Li Weihai, along with independent non-executive directors, ensuring a diverse governance structure[7]. - The company maintains a diversified board structure and emphasizes compliance and risk management to ensure healthy operations[20]. - The company has reported a significant increase in overall financial management and corporate governance under the leadership of CFO Li Weihai, who has over 15 years of experience in accounting and compliance[81]. - The management team includes experienced professionals such as General Manager Wang Guilu, who has been with the company since June 2006, overseeing sales and marketing activities[91]. - The board is committed to maintaining high standards of corporate governance, as reported during the governance report period[96]. - The company emphasizes the importance of effective corporate governance practices to protect shareholder interests and enhance shareholder value[98]. - The board consists of two executive directors and four independent non-executive directors, ensuring strong independent elements[105]. - The company has established various committees, including the audit committee, remuneration committee, nomination committee, and compliance committee[112]. Financial Management - The company recorded a net financial cost of approximately RMB 4.1 million for the fiscal year 2024, compared to a net financial income of approximately RMB 0.9 million for the fiscal year 2023, primarily due to increased borrowing costs[56]. - The effective tax rate for the company's main subsidiaries was 15% for both fiscal years 2024 and 2023, benefiting from government tax incentives[57]. - The company aims to optimize production costs by enhancing graphite mining operations, which is expected to provide a long-term competitive advantage[61]. - The total capitalized costs for mining activities in FY2024 were approximately RMB 10.4 million, compared to RMB 9.3 million in FY2023[40]. - The company has revised the use of net proceeds from the global offering to focus on land acquisition, with RMB 71.7 million allocated for this purpose[62]. - The company has obtained several bank loans and arranged guarantees for these loans during the 2024 fiscal year[180]. Market Outlook - In 2024, China's new energy vehicle production and sales are expected to reach 12.89 million and 12.87 million units, representing year-on-year growth of 34.4% and 35.5% respectively, with new energy vehicles accounting for 40.9% of total vehicle sales, an increase of 9.3 percentage points from 2023[22]. - The global shipment of anode materials is projected to reach 2.21 million tons in 2024, a year-on-year increase of 21.3%, with China's share rising to 95.9%[22]. - The company is optimistic about the long-term market prospects for natural graphite despite current industry challenges, driven by national policies and increasing strategic importance[23]. Corporate Social Responsibility - The company has received the "Green Factory" honor from the China Non-Metallic Mining Industry Association, reflecting its commitment to environmental responsibility[21]. - The company is committed to reducing energy consumption and minimizing environmental impact as part of its corporate social responsibility[166]. Shareholder Relations - The company emphasizes effective communication with shareholders to enhance investor relations[149]. - The company has established a shareholder communication policy to ensure effective and efficient communication with shareholders[149]. - The company is focused on sustainable profit growth and will consider business development needs and financial stability when deciding on dividends[161]. Employee and Board Diversity - The board diversity policy aims to enhance performance quality, with a current composition of 1 female and 5 male directors[123]. - The company emphasizes the importance of candidates' abilities and experiences over gender in recruitment, despite a higher proportion of male employees in the mining industry[122]. - The company aims to enhance employee engagement and accountability to achieve long-term sustainable growth and success in the graphite industry[97].

CHINA GRAPHITE GROUP LIMITED 中 国 石 墨 集 团 有 限 公 司 (incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock code 股份代號 : 2237 2024 Interim Report 中期報告 目錄 | --- | --- | |----------------------------------------|-------| | | | | 公 司 資 料 | | | 釋 義 | | | 二 零 二 四 年 中 期 業 績 主 席 報 告 | | | 管 理 層 討 論 及 分 析 | | | 中 期 簡 明 綜 合 全 面 收 益 表 | | | 中 期 簡 明 綜 合 財 務 狀 況 表 | | | 中 期 簡 明 綜 合 權 益 變 動 表 | | | 中 期 簡 明 綜 合 現 金 流 量 表 | | | 中 期 簡 明 綜 合 財 務 資 料 附 註 | | | | | 中国石墨集团有限公司 石墨開發區1幢1號 公司資料 | --- | --- ...

Financial Performance - China Graphite Group Limited announced its interim results for the six months ending June 30, 2024[1]. - The company reported a significant increase in revenue, with a year-on-year growth of 25%[2]. - For the first half of 2024, the group's total revenue was approximately RMB 36.4 million, a year-on-year decrease of 22.8%[16]. - The group recorded a net loss of approximately RMB 16.2 million, compared to a net loss of RMB 3.3 million in the same period last year[16]. - The net loss after tax for the first half of 2024 was approximately RMB 16.2 million, compared to RMB 3.3 million in the same period of 2023, attributed to intensified market competition and export restrictions[43]. - The company reported revenue of RMB 36,437,000 for the six months ending June 30, 2024, compared to RMB 33,514,000 for the same period in 2023, representing an increase of approximately 9%[85]. - The gross profit for the period was RMB 2,923,000, with a gross margin of approximately 8%[85]. - The net loss for the period was RMB 16,218,000, compared to a net loss of RMB 11,129,000 in the previous year, indicating a deterioration in performance[85]. - Basic and diluted loss per share was RMB 1.01, compared to RMB 0.21 in the prior year[85]. Revenue Breakdown - Sales revenue from spherical graphite and its by-products was approximately RMB 10.2 million, down from RMB 34.9 million in the same period last year[16]. - Revenue from the sale of spherical graphite and its by-products decreased to approximately RMB 10.23 million in the first half of 2024, down from RMB 34.87 million in the same period of 2023, representing a decline of about 70.7%[31]. - Total revenue from graphite product sales fell to approximately RMB 35.3 million in the first half of 2024, a decrease of about 24.6% from RMB 46.8 million in the first half of 2023[32]. - Revenue from the sale of flake graphite concentrate accounted for approximately 68.9% of total revenue in the first half of 2024, compared to 25.3% in the same period of 2023[30]. - For the six months ended June 30, 2024, the total revenue from the sale of flake graphite was RMB 28,484,000 (with inter-segment revenue of RMB 3,377,000), while the revenue from the sale of spherical graphite and its by-products was RMB 16,480,000 (with inter-segment revenue of RMB 5,150,000), totaling RMB 44,964,000 (with inter-segment revenue of RMB 8,527,000)[103]. Cost and Expenses - Sales cost in the first half of 2024 rose to approximately RMB 33.5 million, a 10.6% increase from RMB 30.3 million in the first half of 2023, primarily due to increased depreciation and maintenance expenses[34]. - The gross profit margin for spherical graphite sales was 21.2%, down from 33.0% in the same period last year[17]. - The gross profit from the sale of flake graphite decreased from approximately RMB 5.3 million and a gross margin of 44.6% in the first half of 2023 to approximately RMB 5.0 million and a gross margin of 20.1% in the first half of 2024[36]. - The company incurred capital expenditures of RMB 138,136,000 during the period, primarily for the purchase of property, plant, and equipment[91]. - The total expenses amounted to RMB 52,377,000, with significant costs in raw materials and production[116]. Market and Strategic Outlook - The company provided a positive outlook, projecting a revenue growth of 20% for the next fiscal year[2]. - New product development includes the launch of a high-purity graphite line, expected to contribute an additional 10% to revenue[2]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[2]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance production capacity by 40%[2]. - The company remains optimistic about the long-term development of the graphite industry despite current adjustments[19]. - The Chinese government's supportive policies for the new energy vehicle industry are expected to drive future growth[24]. Operational Efficiency and Investments - The company is investing in new technologies to improve production efficiency, aiming for a 15% reduction in operational costs[2]. - The group plans to increase the graphite extraction volume at the Beishan mine to over 500,000 tons per year to ensure stable supply[18]. - The company has shifted its strategic focus from "production-oriented" to "production cost optimization" to enhance operational efficiency[46]. - The company has implemented a prudent cash management policy to ensure sufficient liquidity for operational needs and business expansion[51]. Corporate Governance and Compliance - The company has complied with all applicable corporate governance codes, except for the specific provision C.2.1 regarding the separation of the roles of Chairman and CEO[75]. - The Audit Committee has reviewed the interim financial results for the first half of 2024 and confirmed that the unaudited interim consolidated financial statements comply with applicable accounting standards and listing rules[84]. - The company has established various committees, including the Audit Committee, Remuneration Committee, Nomination Committee, and Compliance Committee, to ensure effective governance and oversight[78][80][82][83]. - There were no significant violations of applicable laws and regulations during the first half of 2024[74]. - The company is committed to maintaining a high level of corporate governance to protect shareholder interests and enhance shareholder value[75]. Employee and Management Information - As of June 30, 2024, the group had a total of 199 employees, a decrease from 288 employees as of December 31, 2023, primarily due to cost control measures in response to intense competition in the graphite industry[59]. - For the six months ended June 30, 2024, the total remuneration for key management personnel was RMB 2,428,000, an increase from RMB 2,368,000 in the same period of 2023, reflecting a growth of approximately 2.5%[186]. - Employee benefits expenses for Zhao Changshan, Zhao Changhai, and Zhang Yuqin amounted to RMB 360,000, consistent with the previous year, while Sun Yao's expenses remained at RMB 378,000[184]. Financial Position and Liquidity - The company's total borrowings increased to approximately RMB 126.7 million as of June 30, 2024, compared to RMB 66.4 million at the end of 2023[48]. - The current ratio decreased to 1.5 as of June 30, 2024, down from 2.9 at the end of 2023, primarily due to a decline in trade receivables[49][50]. - The company maintains a strong cash position with cash and cash equivalents of approximately RMB 94.9 million as of June 30, 2024[48]. - The company faces financial risks including interest rate risk, credit risk, and liquidity risk, but currently does not have significant exposure to these risks[53][54][56]. - The company's cash and cash equivalents were RMB 94,933,000 as of June 30, 2024, a decrease from RMB 111,918,000 at the end of 2023, indicating tighter liquidity conditions[156]. Acquisitions and Investments - The group successfully acquired industrial land in Weihai, Shandong Province, for future downstream development[19]. - The group acquired equity and land rights of Shandong Ruisheng Carbon Material Technology Co., Ltd. for RMB 55,888,422, with RMB 27,944,211 paid as of the announcement date[63]. - The group obtained formal approval for the acquisition of land use rights in Heilongjiang for RMB 86,922, aimed at increasing graphite extraction capacity to over 500,000 tons annually[64]. Risk Management - The overall risk management plan aims to minimize potential adverse effects on the group's financial performance due to unpredictable financial market conditions[98]. - The company has a maximum credit risk exposure of RMB 94,931,000 as of June 30, 2024, down from RMB 111,917,000 at the end of 2023, indicating a reduction in financial risk[155].

Financial Performance - Total revenue for the fiscal year 2023 was approximately RMB 201.99 million, a decrease of about 26.2% compared to RMB 273.60 million in fiscal year 2022[2]. - Gross profit for fiscal year 2023 was approximately RMB 73.66 million, a decrease of 45.8% from RMB 135.90 million in fiscal year 2022, with a gross margin dropping from 49.7% to 36.5%[2][3]. - Net profit for fiscal year 2023 was approximately RMB 21.32 million, down 73.0% from RMB 78.98 million in the previous year[2][3]. - The total sales revenue from graphite products fell to approximately RMB 201 million in fiscal year 2023, down from RMB 269.7 million in fiscal year 2022, representing a decrease of about 25.5%[47]. - The net profit after tax decreased from approximately RMB 79.0 million in fiscal year 2022 to about RMB 21.3 million in fiscal year 2023, primarily due to a decline in revenue and gross profit[61]. Revenue Breakdown - Sales revenue from spherical graphite and its by-products was approximately RMB 99.63 million, down 24.1% from RMB 131.33 million in the previous year[3]. - Sales revenue from flake graphite concentrate was approximately RMB 101.33 million, a decline of 26.8% from RMB 138.34 million in fiscal year 2022[3]. - The sales volume of spherical graphite was 6,440 tons, a year-on-year decrease of 10.2%, with a gross margin of 35.5%, down 9.9 percentage points[16]. - The sales volume of flake graphite concentrate was 36,348 tons, a year-on-year decrease of 0.1%, with a gross margin of 37.8%, down 16.9 percentage points[16]. Dividend and Reserves - The board of directors decided not to recommend a final dividend for fiscal year 2023, compared to a dividend of 1.6 HK cents in fiscal year 2022[3]. - The company aims to retain reserves for future expansion, indicating a strategic focus on growth despite current financial challenges[3]. Market Conditions - The company anticipates continued challenges in the graphite industry due to increased competition and declining product prices[3]. - The overall market environment remains challenging, with a significant price war in the lithium-ion battery industry impacting the natural graphite market[12]. Production and Capacity - The production of flake graphite concentrate increased from 52,000 tons in the fiscal year 2022 to approximately 57,000 tons in fiscal year 2023, a year-on-year growth of about 9.6%[16]. - The annual production capacity for flake graphite concentrate and spherical graphite is approximately 60,000 tons and 10,000 tons, respectively, with significant increases expected upon the completion of a new processing plant[20]. - The company plans to increase graphite extraction capacity to over 500,000 tons per year, focusing on production cost optimization[66]. Research and Development - The company holds over 90 patents and has developed advanced processes such as flotation column technology and fluorine-free purification, reflecting its strong R&D capabilities[22]. - Research and development expenses increased to approximately RMB 17.2 million in fiscal year 2023, a rise of about 49.6% from RMB 11.5 million in fiscal year 2022[57]. Cash Flow and Financing - Operating cash flow for fiscal year 2023 was RMB 27.633 million, down from RMB 77.335 million in 2022[71]. - Financing cash inflow for fiscal year 2023 was RMB 30.941 million, mainly from bank loans of RMB 56.4 million, offset by dividend payments of RMB 23 million[75]. - The company has secured bank financing with a total approved credit line of RMB 140 million, with RMB 16.964 million in bank loans and RMB 29.464 million in discounted bill financing drawn at interest rates of 3.85% and 3.50% respectively[80]. Corporate Governance - The board of directors is responsible for overseeing the company's overall strategy and business performance, including financial performance and risk management systems[122]. - The company has complied with all applicable corporate governance code provisions during the reporting period, except for a specific provision related to the chairman and CEO[120]. - The company emphasizes effective corporate governance practices as a fundamental element to protect shareholder interests and enhance shareholder value[120]. Employee and Management - Employee count increased to 288 as of December 31, 2023, from 196 in FY2022, aligning with expected production increases to support business growth[82]. - The company aims to enhance the proportion of female employees in senior management positions through targeted hiring and promotion strategies[160]. Risk Management - The risk management and internal control systems have been reviewed and deemed effective, with no significant concerns identified during the annual assessment[169]. - The company employs a self-assessment method for risk control and management, regularly evaluating its risk status[168]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[99]. - New product launches are expected to contribute an additional 200 million in revenue in the upcoming year[99].