Financial Performance - Revenue for the twelve months ended December 31, 2023, was RMB 510,718 thousand, an increase of 56.7% compared to RMB 325,620 thousand for the same period in 2022[7]. - Gross profit for the same period was RMB 110,920 thousand, down 27.1% from RMB 152,198 thousand in 2022[7]. - The company reported a loss before tax of RMB 28,597 thousand, compared to a profit of RMB 21,362 thousand in the previous year[7]. - Net loss attributable to owners of the company was RMB 36,214 thousand, compared to a profit of RMB 13,523 thousand in 2022[9]. - The company reported a net cash inflow from operating activities of RMB 21,116 thousand for the year ended December 31, 2023, compared to RMB 43,542 thousand in the previous year, representing a decrease of 51.5%[17]. - The company incurred a net loss of RMB 36,214 thousand for the year ended December 31, 2023, compared to a net loss of RMB 1,143,910 thousand in the previous year, showing a significant improvement in financial performance[16]. - The company reported a total loss before tax of RMB 28,597,000 for the twelve months ending December 31, 2023, compared to a profit of RMB 21,362,000 in the previous year[30][32]. - The group recorded revenue of approximately RMB 510,718,000, a significant increase of about 56.8% compared to RMB 325,620,000 for the same period last year[77]. - The group reported a loss attributable to owners of approximately RMB 36,214,000, compared to a profit of approximately RMB 13,523,000 for the same period last year[82]. Assets and Liabilities - Total assets as of December 31, 2023, were RMB 486,326 thousand, a slight increase from RMB 478,759 thousand in 2022[11]. - Non-current assets increased to RMB 347,481 thousand from RMB 305,383 thousand in the previous year, primarily due to an increase in property, plant, and equipment[11]. - Current liabilities rose to RMB 108,991 thousand, compared to RMB 76,938 thousand in 2022, reflecting increased trade and other payables[11]. - The company’s total liabilities increased, with a total accumulated loss of RMB 1,180,177 thousand as of December 31, 2023, compared to RMB 1,143,910 thousand in 2022[16]. - Total assets as of December 31, 2023, amounted to RMB 595,317,000, up from RMB 555,697,000 in the previous year, indicating a growth of approximately 7.1%[34]. - The total liabilities increased to RMB 227,151,000 as of December 31, 2023, compared to RMB 165,145,000 in the previous year, reflecting a rise of approximately 37.6%[34]. Cash Flow and Investments - The company’s cash and cash equivalents decreased to RMB 134,186 thousand from RMB 157,806 thousand in the previous year[11]. - Total cash and cash equivalents decreased by RMB 26,413 thousand in 2023, compared to a decrease of RMB 19,627 thousand in 2022, indicating a worsening cash flow situation[18]. - The company’s cash flow from investing activities showed a net outflow of RMB 20,817 thousand in 2023, compared to RMB 44,021 thousand in 2022, reflecting a reduction in investment expenditures[17]. - The company invested RMB 11,837 thousand in property, plant, and equipment during 2023, an increase from RMB 9,621 thousand in 2022, indicating ongoing investment in infrastructure[17]. - The company has not made any significant investments or capital asset plans for the future[110]. Shareholder Information - The basic and diluted loss per share for the period was RMB 0.54, compared to earnings of RMB 0.20 per share in 2022[9]. - As of December 31, 2023, the total issued and fully paid ordinary shares remained at 6,752,211 thousand shares, equivalent to HKD 67,522 thousand and RMB 56,662 thousand[50]. - The company has issued a total of 100,000,000 share options, representing approximately 1.48% of the total shares issued as of December 31, 2023, with a total of 496,851,057 shares available for issuance under the plan[95]. - As of December 31, 2023, the beneficial ownership of the directors included 609,200,000 shares held by Mr. Lu, representing 20.72% of the total issued share capital of 1,398,828,323 shares[98]. Corporate Governance - The company has complied with the corporate governance code, with the exception of the chairman's absence at the annual general meeting due to other commitments[106]. - The term of the chairman, Lu Xing, has been renewed until December 10, 2026[109]. - The term of independent non-executive director Liang Zhaoji has been renewed until December 21, 2024[109]. - The company is not aware of any non-compliance with the standard code of conduct for securities trading by directors during the reporting period[107]. Strategic Initiatives - The company is focusing on expanding its financial services and education consulting segments as part of its growth strategy[28]. - The group plans to expand its financial services, particularly in insurance brokerage, to capture more market share in mainland China[79]. - The group will continue to invest in online and offline training services to enhance user engagement and loyalty[75]. - The company has launched a comprehensive online and offline training service combining a large-scale online training cloud platform and offline training centers in Guangxi and Sichuan[65]. - The company plans to open a comprehensive office for online and offline training services in Chengdu in the first half of 2024[65]. Market Position and User Engagement - The company currently has over 8 million paying users and has provided training to over 60 million people through its online training platform[63]. - The company operates over 200 large-scale online training and education service platforms for B-end users and one online education platform for C-end users[63]. Compliance and Legal Matters - The audit committee has reviewed the unaudited condensed consolidated financial results and confirmed compliance with applicable accounting standards[119]. - The company has taken legal action to recover overdue debts amounting to HKD 26,420,204, resulting in a default judgment against Mr. Pan[115].

Financial Performance - Revenue for the twelve months ended December 31, 2023, was RMB 510,718,000, representing a 56.7% increase from RMB 325,620,000 in 2022[3] - Gross profit decreased to RMB 110,920,000, down 27.1% from RMB 152,198,000 in the previous year[3] - The company reported a loss before tax of RMB (28,597,000), compared to a profit of RMB 21,362,000 in 2022, indicating a significant decline in profitability[3] - The net loss attributable to owners of the company was RMB (36,214,000), a stark contrast to the profit of RMB 13,523,000 in the prior year[7] - Basic loss per share was RMB (0.54), compared to earnings of RMB 0.20 per share in 2022[7] - The company reported a total segment loss of RMB 13,421,000 for the year ended December 31, 2023, compared to a profit of RMB 40,194,000 in 2022, indicating a significant decline in profitability[23][24] - The group recorded revenue of approximately RMB 510.72 million, a significant increase of about 56.8% compared to RMB 325.62 million for the same period last year[59] - The group reported a loss attributable to owners of the company of approximately RMB 36.21 million, compared to a profit of approximately RMB 13.52 million for the same period last year[62] Assets and Liabilities - Non-current assets increased to RMB 347,481,000 from RMB 305,383,000, reflecting a growth of 13.8%[9] - Current assets decreased slightly to RMB 247,836,000 from RMB 250,314,000, a decline of 1.0%[9] - Total liabilities increased to RMB 118,160,000 from RMB 88,207,000, indicating a rise of 33.9%[10] - The company’s equity attributable to owners decreased to RMB 359,018,000 from RMB 389,815,000, a drop of 7.9%[10] - Total assets as of December 31, 2023, amounted to RMB 595,317,000, up from RMB 555,697,000 in 2022, reflecting an increase of approximately 7.1%[25] - The total liabilities increased to RMB 227,151,000 as of December 31, 2023, compared to RMB 165,145,000 in 2022, representing an increase of approximately 37.6%[25] - The current ratio as of December 31, 2023, was approximately 2.27, compared to 3.25 a year earlier[63] - The debt-to-asset ratio was approximately 38.2% as of December 31, 2023, up from 29.7% a year earlier[64] Revenue Segmentation - Revenue from financial services reached RMB 315,848,000 for the year ended December 31, 2023, compared to RMB 119,394,000 in 2022, marking an increase of approximately 164.5%[19][24] - Revenue from financial services amounted to approximately RMB 315.85 million, representing about 61.8% of total revenue, while education services contributed approximately RMB 194.87 million, accounting for about 38.2%[59] Operational Highlights - The company is engaged in providing online training and education services as well as financial services, with a focus on the Chinese market[12] - The company currently has over 8 million paying users and has provided training to over 60 million individuals through its online training platform[43] - The company operates over 200 large-scale online training and education service platforms for B-end users and one mobile internet education platform for C-end users[43] - The company plans to continue expanding its financial services and education consulting segments to drive future growth[19] - The company plans to deepen its online and offline integrated services in the continuing education sector and increase its market share[52] Changes in Fiscal Year - The company's fiscal year-end has been changed from December 31 to June 30, with the next audited consolidated financial statements covering an 18-month period from January 1, 2023, to June 30, 2024[13] - The company has changed its fiscal year-end from December 31 to June 30, with the next audited financial statements covering an 18-month period from January 1, 2023, to June 30, 2024[41] Investments and Acquisitions - The company has invested in cryptocurrencies like Bitcoin and Ethereum since 2021, expanding into the blockchain and cryptocurrency industry[51] - The company has acquired a comprehensive office in Chengdu to enhance its offline training services, expected to be operational in the first half of 2024[45] - The company has sold 盛富環球 for HKD 43 million due to regulatory changes affecting its business model[50] - The company aims to establish a dual-track development model combining education and financial services[42] Employee and Compensation - The total employee cost for the reporting period was approximately RMB 52,523,000, down from RMB 72,460,000 in the same period last year, with a workforce of 438 employees as of December 31, 2023, compared to 484 employees a year earlier[70] - The company did not declare any dividends for the twelve months ended December 31, 2023, consistent with the previous year[31] - The company has not granted any stock options during the reporting period[76] Compliance and Governance - The company has complied with the corporate governance code, with one exception regarding the chairman's absence at the annual general meeting[88] - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited consolidated financial performance and confirmed compliance with applicable accounting standards[99] Legal Matters - The company has obtained a default judgment against Mr. Pan for overdue payments totaling approximately HKD 26,420,204, with ongoing efforts to enforce this judgment[95] - As of December 5, 2023, Mr. Pan has partially settled approximately HKD 329,000 of the second installment, leaving a total outstanding amount of approximately HKD 26,091,000[95] Market Strategy - The group aims to enhance consumer loyalty to its training and education platform by allocating more resources to develop consumer-oriented business models[54] - The group plans to expand its insurance brokerage business in more cities across China, anticipating continued growth in financial services[60]

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 196,547,000, an increase of 31.1% compared to RMB 149,857,000 for the same period in 2022[6] - Gross profit decreased to RMB 42,085,000, down 50.1% from RMB 84,211,000 year-on-year[6] - The company reported a loss before tax of RMB 28,395,000, compared to a profit of RMB 22,844,000 in the previous year[6] - Net loss attributable to owners of the company was RMB 26,480,000, compared to a profit of RMB 15,415,000 in the same period last year[7] - Total comprehensive loss for the period was RMB 24,280,000, compared to a total comprehensive income of RMB 15,418,000 in 2022[7] - The company reported a total segment loss of RMB 17,839,000 for the six months ended June 30, 2023, compared to a profit of RMB 40,415,000 for the same period in 2022[26] - The company reported a loss attributable to owners of approximately RMB 26,480,000 for the six months ended June 30, 2023, compared to a profit of RMB 15,415,000 in the same period last year[78] Assets and Liabilities - Non-current assets as of June 30, 2023, amounted to RMB 312,508,000, a slight increase from RMB 305,383,000 at the end of 2022[9] - Current assets increased to RMB 255,820,000 from RMB 250,314,000 at the end of 2022[9] - Total equity attributable to owners of the company decreased to RMB 367,197,000 from RMB 389,815,000 at the end of 2022[10] - Total assets as of June 30, 2023, amounted to RMB 568,328,000, an increase from RMB 555,697,000 as of December 31, 2022[29] - Total liabilities increased to RMB 202,056,000 as of June 30, 2023, compared to RMB 165,145,000 at the end of 2022[30] - The company’s total liabilities as of June 30, 2023, were RMB 1,170,390 thousand, reflecting a significant financial position[14] Cash Flow - For the six months ended June 30, 2023, the company reported a net cash inflow from operating activities of RMB 6,515 thousand, a decrease of 88.3% compared to RMB 55,578 thousand for the same period in 2022[15] - The company’s operating cash flow decreased significantly, with cash generated from operations dropping to RMB 6,379 thousand from RMB 61,185 thousand year-on-year[15] - Total cash and cash equivalents as of June 30, 2023, amounted to RMB 158,941 thousand, down from RMB 200,008 thousand at the beginning of the year[16] - The company’s cash outflow for investing activities was RMB 13,814 thousand, a decrease from RMB 18,137 thousand in the previous year[15] Revenue Segmentation - Revenue from online training and education services decreased to RMB 71,628,000, down 29.5% from RMB 101,535,000 in the previous year[24] - Financial services revenue surged to RMB 111,671,000, a significant increase of 257.5% from RMB 31,197,000 in the prior year[24] - Revenue from the education services segment was approximately RMB 84,876,000, while revenue from the financial services segment was approximately RMB 111,671,000, marking a significant increase from RMB 42,060,000 in the previous year[74] Operational Developments - The company plans to focus on market expansion and new product development to improve future performance[5] - The company anticipates a rebound in revenue from the education services segment in the second half of 2023 due to seasonal factors and government initiatives promoting vocational education[74] - The company is expanding its insurance brokerage business in more cities across China, expecting continued growth in financial services revenue in the second half of 2023[75] - The company aims to integrate its education and financial services to establish a dual-track development model[59] Shareholder Information - The weighted average number of ordinary shares used for calculating basic and diluted loss per share remained unchanged at 6,752,211 thousand shares for both periods[38] - The convertible bonds with a principal amount of HKD 40,000,000 were fully converted into 320,000,000 shares as of June 30, 2023[88] - The largest shareholder, Mr. Lu, holds 605,200,000 shares, representing 20.66% of the issued share capital[94] Investment and Capital Expenditures - Capital expenditures contracted but not recognized as liabilities amounted to RMB 12,264,000 for property, plant, and equipment as of June 30, 2023, down from RMB 25,794,000 at the end of 2022[58] - The total investment cost of financial assets held at fair value is 68,243,000 RMB, with a fair value change of 56,211,000 RMB[109] - The group plans to optimize its investment strategy to mitigate related risks in response to market conditions[110] Employee Costs - Employee costs totaled approximately RMB 29,149,000, an increase from RMB 23,214,000 in the same period last year[86] - The company’s short-term benefits decreased from RMB 2,029,000 in 2022 to RMB 1,771,000 in 2023, a decline of approximately 12.7%[51] Miscellaneous - The company did not declare or recommend any interim dividends for the six months ended June 30, 2023, consistent with the previous year[36] - The group has no significant future investment or capital asset plans as of June 30, 2023[107] - The group did not purchase, sell, or redeem any listed securities during the reporting period[108]

Financial Performance - For the year ended December 31, 2022, the Group recorded a turnover of approximately RMB 325,620,000, representing an increase of approximately 16.2% compared to 2021[20] - The profit attributable to owners of the Company for the year was approximately RMB 13,523,000, a decrease from RMB 33,011,000 in 2021[20] - Basic earnings per share for the year was RMB 0.20, down from RMB 0.52 in the previous year[12] - The Group recorded a revenue of approximately RMB 325.62 million for the year ended December 31, 2022, representing an increase of about 16.2% compared to RMB 280.25 million in 2021[23] - The Group's profit attributable to owners for the year ended December 31, 2022, was approximately RMB 13.52 million, a decrease from RMB 33.01 million in 2021[23] - The cost of services increased by approximately 30.2% to RMB 173,422,000 from RMB 133,228,000 in the previous year, primarily due to higher insurance commissions and course material acquisition costs[88] - Selling and marketing expenses rose by approximately 11.2% to RMB 40,919,000 from RMB 36,803,000, mainly due to increased staff costs and sales commissions[89] - Administrative expenses increased by approximately 12.7% to RMB 90,282,000 from RMB 80,075,000, driven by higher staff costs and share-based payment expenses[90] Asset Management - Non-current assets decreased to RMB 305,383,000 in 2022 from RMB 331,087,000 in 2021[16] - Current assets increased to RMB 250,314,000 in 2022 from RMB 239,273,000 in 2021[16] - Net current assets improved to RMB 173,376,000 in 2022 compared to RMB 135,036,000 in 2021[16] - Equity attributable to owners of the Company increased to RMB 389,815,000 in 2022 from RMB 367,877,000 in 2021[16] - As of December 31, 2022, the Group had bank balances and cash of approximately RMB 157,806,000, a decrease from approximately RMB 169,358,000 as of December 31, 2021[109] - The Group's net current assets totaled approximately RMB 173,376,000 as of December 31, 2022, compared to approximately RMB 135,036,000 as of December 31, 2021[110] - The current ratio improved to approximately 3.25 as of December 31, 2022, up from approximately 2.30 as of December 31, 2021[110] - The gearing ratio decreased to approximately 29.7% as of December 31, 2022, down from approximately 34.9% in 2021[111] User Base and Market Growth - The Group currently has more than 8 million paying users across its online training platforms, which have provided training for over 60 million attendance instances[40] - The number of internet users in China grew from approximately 690 million in 2015 to approximately 1.03 billion in 2022, with a compound annual growth rate of approximately 6.0%[21] - The number of mobile internet subscribers in China increased from approximately 960 million in 2015 to approximately 1.46 billion in 2022, representing a compound annual growth of approximately 6.2%[21] - China's online education market grew from approximately RMB 122.5 billion in 2015 to RMB 485.8 billion in 2022, with a compound annual growth rate of over 20%[26] Business Segments - The educational consultancy and online training segment contributed approximately RMB 206,226,000, accounting for approximately 63.3% of total turnover, while the financial services segment contributed approximately RMB 119,394,000, accounting for approximately 36.7%[20] - Revenue from the education consultancy and online training segment was approximately RMB 206.23 million, accounting for about 63.3% of total revenue, while the financial services segment contributed approximately RMB 119.39 million, representing about 36.7% of total revenue[23] - Revenue from the financial services business increased due to the expansion of the insurance brokerage business in more cities in China and additional revenue generated from four funds during the reporting period[86] Strategic Initiatives - The Group plans to acquire a comprehensive office in Jinniu District, Chengdu, to enhance its influence in the education training industry and offer both online and on-site training services[27] - The Group aims to establish a dual development model of "education + financial services" to leverage resources and integrate operations[38] - The Group expects increased demand for both on-site and online education in the coming years as user preferences evolve post-COVID-19[29] - The Group believes that the implementation of government policies promoting vocational education will provide significant expansion opportunities for its vocational education and training business[31] - The Group plans to expand its vocational skills training offerings and increase market share in the continuing education sector[66] Financial Services Expansion - The Group has completed a series of mergers and acquisitions of licensed financial companies since 2017, accelerating its expansion into the financial sector[46] - The Group's financial services segment includes a licensed money lending operation that has historically contributed to its overall development[53] - The Group's financial services expansion is supported by the promising growth potential of Hong Kong's financial market[45] - RuiLian aims to exceed HK$ 3 billion in assets under management as it develops its Type 9 financial services business[74] Investment and Risk Management - The Group has invested in cryptocurrencies such as Bitcoin and Ethereum since 2021 and has begun providing asset management services related to cryptocurrency[64] - The Group has implemented internal control measures to ensure compliance with the Contractual Arrangements, including regular reporting and legal advisement[132] - The Group will optimize its investment strategies in response to market conditions to mitigate relevant risks[101][105] - The management discussion highlights the importance of these transactions in supporting the Group's operational framework and strategic objectives[199] Contractual Arrangements and Compliance - The Group's reliance on Contractual Arrangements for conducting online training and education services in China may not be as effective as direct ownership[131] - The Group faces risks related to the potential non-compliance of Contractual Arrangements with PRC laws, which could adversely affect operations[130] - The agreements include provisions for dispute resolution, allowing for interim remedies and specific performance under PRC laws[140] - The New Contractual Arrangements allow the Group to retain substantial net income generated by the consolidated affiliated entities after deducting relevant costs, taxes, and reserved funds as required by PRC laws[190] - The independent non-executive Directors confirmed that all continuing connected transactions were conducted in the ordinary course of business and on normal commercial terms[200]

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，並明確表示概不就因本公告全部或任何 部分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。 Chuanglian Holdings Limited 創 聯 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：2371） 業績公告 截至二零二二年十二月三十一日止年度 業績摘要 截至十二月三十一日止年度 二零二二年 二零二一年 人民幣千元 人民幣千元 已申報財務資料 收入 325,620 280,252 毛利 152,198 147,024 除稅前溢利 21,362 42,765 本年度溢利 10,884 30,017 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 149,857,000, representing an increase of 77.8% compared to RMB 84,233,000 for the same period in 2021[18]. - Gross profit for the same period was RMB 84,211,000, up from RMB 56,846,000, indicating a gross margin improvement[18]. - The net profit for the period was RMB 18,801,000, compared to a net loss of RMB 3,235,000 in the previous year[18]. - Basic and diluted earnings per share were RMB 0.23, a significant recovery from a loss of RMB 0.06 per share in the prior year[20]. - Total comprehensive income for the period was RMB 15,418,000, compared to a loss of RMB 668,000 in the same period last year[18]. - The company reported a segment profit of RMB 40,415,000 for the six months ended June 30, 2022, compared to a profit of RMB 5,404,000 in the same period of the previous year, reflecting improved operational efficiency[46]. - For the six months ended June 30, 2022, the company reported a net profit of RMB 15,415,000, compared to a net loss of RMB 3,660,000 for the same period in 2021, indicating a significant turnaround in performance[66]. - The company reported a significant increase in operating income cash to RMB 61,185 thousand from RMB 14,111 thousand in the previous year[30]. Assets and Liabilities - Total assets as of June 30, 2022, were RMB 474,690,000, compared to RMB 466,123,000 as of December 31, 2021[24]. - Total assets as of June 30, 2022, amounted to RMB 572,090,000, slightly up from RMB 570,360,000 as of December 31, 2021[54]. - The company’s total liabilities decreased to RMB 185,379,000 as of June 30, 2022, from RMB 199,107,000 at the end of the previous year, indicating a reduction in financial obligations[54]. - The company incurred a net cash outflow from investing activities of RMB (18,137) thousand during the period[30]. - The company’s total liabilities included a repayment of lease liabilities amounting to RMB (6,549) thousand[30]. - The cumulative loss of RMB (1,186,707) thousand as of June 30, 2022[26]. Cash Flow and Investments - Cash and cash equivalents increased to RMB 200,008,000 from RMB 169,358,000 at the end of the previous year[22]. - Operating cash flow for the six months ended June 30, 2022, was RMB 55,578 thousand, significantly up from RMB 10,953 thousand in the previous year[30]. - Net cash increase for the period was RMB 28,693 thousand, compared to RMB 76,431 thousand in the previous year[32]. - The company invested approximately RMB 7,498,000 in property and equipment during the six months ended June 30, 2022, compared to RMB 303,000 in the same period of 2021[73]. Revenue Segments - Revenue from online training services was RMB 101,535,000, while financial services generated RMB 31,197,000, indicating strong performance in both segments[41]. - Revenue from education consulting and online training accounted for approximately RMB 107,797,000, or 71.9% of total revenue, during the reporting period[118]. - The service cost for the reporting period was approximately RMB 65,646,000, an increase of about 139.7% compared to RMB 27,387,000 for the same period last year[119]. Expenses - Selling and marketing expenses increased by approximately 24.5% to RMB 21,409,000, primarily due to rising employee costs and sales commissions[121]. - Administrative expenses rose by approximately 9.6% to RMB 40,881,000, mainly due to increased recruitment costs and consultancy fees[121]. - The company’s income tax expense for the six months ended June 30, 2022, was RMB 4,043,000, up from RMB 2,363,000 in the previous year[62]. Strategic Plans and Market Position - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[18]. - The group plans to continue expanding its online training and financial services, leveraging the growth in demand for digital education solutions[41]. - Future guidance indicates a focus on enhancing service offerings and exploring potential market expansion opportunities in the financial services sector[41]. - The group aims to enhance consumer loyalty to its training and education platforms by opening more training centers and improving after-sales services[133]. - The group intends to develop more preparatory courses for professional qualification exams, recognizing the significant market potential in this area[133]. Corporate Governance and Shareholder Information - The company has adopted the standard code of conduct for securities trading by directors and is not aware of any non-compliance during the reporting period[189]. - The company has complied with the corporate governance code, with the board consisting of nine members, including three independent non-executive directors[185]. - The company has established financial risk management policies to ensure all payables are settled within the credit period[81]. - The company has not entered into any other related party transactions during the reporting periods, aside from those disclosed in the financial statements[93]. Share Capital and Ownership - The company issued 470,000,000 new ordinary shares at a placement price of HKD 0.102 per share, raising net proceeds of approximately HKD 47,790,000 (equivalent to about RMB 39,816,000) on May 28, 2021[85]. - As of June 30, 2022, the company had a total of 1,364,596,323 issued ordinary shares, with Mr. Lu holding 20.21% and Mr. Gao holding 8.57% of the shares[172]. - The stock options granted are part of the 2014 stock option plan, with 100% of the options vesting by June 29, 2020[168].

Financial Performance - Revenue for 2021 reached RMB 280,252,000, a 53.3% increase from RMB 183,025,000 in 2020[8] - Gross profit for 2021 was RMB 147,024,000, up 43.0% from RMB 102,707,000 in 2020[8] - The company reported a profit for the year of RMB 30,017,000, compared to a loss of RMB 2,950,000 in 2020[8] - Basic earnings per share for 2021 were RMB 0.52, recovering from a loss of RMB 0.03 per share in 2020[8] - For the year ended December 31, 2021, the Group recorded a turnover of approximately RMB280,252,000, representing a significant increase of approximately 53.1% compared to the previous year[15] - The profit attributable to owners of the Company for the year was approximately RMB33,011,000, a turnaround from a loss of approximately RMB2,059,000 in the previous year[15] - The Group recorded a revenue of approximately RMB280,252,000 for the Reporting Period, representing an increase of approximately 53.1% compared to the previous year[76] - Revenue from educational consultancy and online training accounted for approximately 86.8% of total revenue, amounting to approximately RMB243,310,000[78] - The financial services business generated approximately RMB36,942,000, an increase from RMB8,196,000 in the previous year, due to expansion in insurance brokerage and finance lease business[77][83] Asset and Equity Growth - Non-current assets increased to RMB 331,087,000 in 2021 from RMB 274,419,000 in 2020, reflecting a growth of 20.6%[11] - Current assets rose to RMB 239,273,000 in 2021, a 38.9% increase from RMB 172,269,000 in 2020[11] - Net current assets improved to RMB 135,036,000 in 2021, compared to RMB 94,672,000 in 2020, marking a 42.5% increase[11] - Equity attributable to owners of the company increased to RMB 367,877,000 in 2021 from RMB 256,709,000 in 2020, a growth of 43.4%[11] Market and Growth Strategy - The company aims to expand its market presence and invest in new product development to drive future growth[7] - Management indicated a focus on strategic acquisitions to enhance competitive positioning in the market[7] - The Group expects continued growth in the online education market due to increased internet population and changes in learning habits influenced by the COVID-19 pandemic[23] - The State Council of the PRC has introduced policies to promote vocational education, which is expected to benefit the Group's on-the-job education and training business[24] - The rapid growth of mobile broadband users is anticipated to enhance the development of online education and training in China[20] - The online penetration rate of the education industry in China is reported to be lower than that of other industries, indicating significant room for expansion[20] - The Group is focusing on investment directions around the digital asset economy to seize opportunities in the financial technology sector[30] Operational Developments - The Group currently has over 8 million paying users for its online training and education services, with more than 50 million training sessions provided in the past few years[38] - The Group's online training and education business covers 20 provinces and over 100 cities in the PRC[39] - The Group has launched a multi-level, multidimensional combination of online and offline training services to meet growing training needs[42] - The Group is actively expanding its financial insurance business and launching group medical insurance and employee benefits plans[66] - The Group plans to expand its vocational skills training for professional staff and increase market share in the continuing education sector[58] Investment and Financial Strategy - The Group commenced investing in digital assets such as Bitcoin and Ethereum, with a change in fair value of approximately RMB128,000 for the year ended 31 December 2021[91] - The Group's investment objective is to achieve earnings and enhance corporate value, with no specific industry focus on potential investments[97] - The Group is focusing on developing blockchain technology and finance-related businesses, including regulated crypto trading and digital banking[72] - The Group's partnership with Blockchain Pte. Ltd. aims to enhance capabilities in blockchain technology and finance-related businesses, including participation in local digital finance bidding in Singapore[72] Regulatory and Compliance Matters - The Group's reliance on Contractual Arrangements poses risks, including potential non-compliance with PRC laws and regulations, which could adversely affect business operations[128] - The Group has implemented internal control measures to mitigate risks associated with Contractual Arrangements, including regular compliance reporting and legal advisory support[130] - The Group will monitor relevant PRC laws and regulations to protect its interests in Beijing Chuanglian Education[132] Shareholder and Capital Management - The Company completed a share placing of 470,000,000 new shares at a price of HK$0.102 per share on May 28, 2021[114] - The Company raised HK$40,000,000 through a convertible bond placing, which was fully converted into 320,000,000 shares on September 15, 2021[116] - The reasons for the share and convertible bond placements were to broaden the shareholder base and strengthen the capital base for future developments[117] - The Group's gearing ratio was approximately 34.9% as of December 31, 2021, down from 41.1% in 2020[114] Agreements and Transactions - A Consultancy and Services Agreement was established, where 90% of Beijing Chuanglian Education's business revenue is paid as consultancy fees to Beijing Chuanglian Guopei[134] - The New Contractual Arrangements, including the Supplemental Agreements and Loan Agreement, were approved by independent shareholders on December 16, 2015[156] - The additional capital from the Loan Agreement is expected to facilitate business expansion and revenue growth for Beijing Chuanglian Education[154] - The transactions under the Loan Agreement are considered intra-Group transactions, providing necessary capital for the Group's operations[154]

Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 84,233,000, representing a 56% increase from RMB 54,023,000 in the same period of 2020[16] - Gross profit for the same period was RMB 56,846,000, up from RMB 31,173,000, indicating a significant improvement in profitability[16] - The company reported a loss before tax of RMB 872,000, a substantial recovery from a loss of RMB 16,875,000 in the prior year[16] - The net loss for the period was RMB 3,235,000, compared to a net loss of RMB 16,794,000 in the previous year, showing a positive trend[16] - Total revenue for the six months ended June 30, 2021, was RMB 263,079,000, a decrease of 3,235,000 compared to the previous period[24] - The company reported a total comprehensive income of RMB 304,867,000 for the six months ended June 30, 2021[24] - The company reported a total loss before tax for the six months ended June 30, 2021, was RMB 16,875,000, compared to a loss of RMB 15,928,000 for the same period in 2020[44] - The company reported a loss attributable to shareholders of approximately RMB 3.7 million for the six months ended June 30, 2021, resulting in a basic loss per share of RMB 0.06[153] Assets and Liabilities - Total assets as of June 30, 2021, were RMB 435,806,000, an increase from RMB 369,091,000 at the end of 2020[20] - The company’s total liabilities increased to RMB 211,946,000 as of June 30, 2021, from RMB 183,609,000 as of December 31, 2020[46] - The company’s total liabilities decreased to RMB 22,954,000 as of June 30, 2021, down 38.9% from RMB 37,552,000 as of December 31, 2020[62] - Deferred tax liabilities increased to RMB 10,630,000 as of June 30, 2021, from RMB 9,851,000 at the beginning of the year[70] Cash Flow and Liquidity - Cash and cash equivalents increased to RMB 190,924,000 from RMB 115,805,000, reflecting improved liquidity[19] - Operating cash flow for the six months ended June 30, 2021, was RMB 10,953,000, compared to a negative cash flow of RMB (19,368,000) in the same period last year[26] - Net cash generated from financing activities was RMB 60,618,000, a significant improvement from a negative cash flow of RMB (7,601,000) in the previous year[28] - As of June 30, 2021, the group's bank balance and cash amounted to approximately RMB 1.909 billion, an increase from RMB 1.158 billion as of December 31, 2020[122] - The group's net current assets totaled approximately RMB 1.706 billion as of June 30, 2021, compared to RMB 947 million as of December 31, 2020[122] - The current ratio of the group was approximately 3.11 times as of June 30, 2021, up from 2.22 times as of December 31, 2020[122] Shareholder Equity - The company's equity attributable to owners rose to RMB 298,072,000 from RMB 256,709,000, indicating growth in shareholder value[20] - The company’s total equity attributable to shareholders was RMB 256,709,000 as of June 30, 2021[24] - The basic and diluted loss per share for the six months ended June 30, 2021, was RMB (0.605), an improvement from RMB (2.670) for the same period in 2020[54] Revenue Segmentation - Revenue from online training services reached RMB 55,668,000, up 30% from RMB 42,733,000 in the previous year[37] - The segment profit for education consulting and online training was RMB 7,947,000, while the financial services segment reported a loss of RMB 2,543,000[40] - The financial services segment generated revenue of RMB 11,349,000, compared to RMB 2,877,000 in the same period last year, marking a significant increase[37] - Revenue from education consulting and online training accounted for approximately RMB 72.4 million, representing 85.9% of total revenue during the reporting period[101] Expenses - The company incurred selling and marketing expenses of RMB 17,190,000, which was significantly higher than RMB 9,399,000 in the previous year, reflecting increased investment in growth[16] - Sales and marketing expenses increased by approximately 82.9% to RMB 17.2 million, primarily due to increased commissions, meetings, and advertising costs[104] - Service costs for the reporting period were approximately RMB 27.4 million, a 19.9% increase from RMB 22.9 million in the same period last year[102] Market Expansion and Strategy - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[16] - The company plans to expand its online and offline training services and increase market share in the continuing education sector for professionals[112] - The group plans to expand its training centers to enhance after-sales service and increase average revenue per user, focusing on the market potential for exam preparation courses[114] - The group aims to upgrade its asset management business to exceed HKD 2 billion, enhancing business synergy across different licenses[117] - The group is actively developing blockchain technology and financial services, including a licensed cryptocurrency trading platform and digital banking services[119] Investments - The company has committed capital expenditures of RMB 8,000,000 for equity injections into joint ventures as of June 30, 2021, unchanged from December 31, 2020[98] - The company completed a transaction to acquire all issued shares of a target company for a maximum consideration of HKD 166,000,000, which was finalized on August 26, 2021[99] - The company plans to optimize its investment strategy to mitigate related risks in response to market conditions[185] Corporate Governance - The company complies with the corporate governance code as per the listing rules[177] - The company has adopted the standard code for securities trading by directors and is not aware of any non-compliance[178]

T ( 股份代號：2371) 24355 run l 9 uuuu * * * * * * Z # * * * * * * * * 11 * * C * 中國創聯教育金融集團有限公司 (於開曼群島註冊成立之有限公司) 2020年報 目錄 頁 次 公司資料 2 財務摘要 3 主席報告 4 管理層討論及分析 8 董事及高級管理層履歷詳情 24 企業管治報告 27 環境、社會及管治報告 40 董事會報告 80 獨立核數師報告 93 綜合損益及其他全面收益表 100 綜合財務狀況表 102 綜合權益變動表 104 綜合現金流量表 106 綜合財務報表附註 108 1 中國創聯教育金融集團有限公司 二零二零年年報 公司資料 | --- | --- | |--------------------------------------------------------------------------|---------------------------------| | 執行董事 | 主要銀行 | | 路行先生 （董事會主席） | 恒生銀行有限公司 | | 李嘉先生 徐大勇先生 | 註冊辦事處 | | 胡定東先生 （ ...

Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 54,023,000, an increase of 16.5% compared to RMB 46,264,000 for the same period in 2019[5] - Gross profit for the same period was RMB 31,173,000, representing a gross margin of 57.7%, up from RMB 20,677,000 in 2019[5] - The company reported a loss before tax of RMB 16,875,000, significantly improved from a loss of RMB 31,442,000 in the prior year, indicating a reduction of 46.3%[5] - Total comprehensive loss for the period was RMB 14,154,000, compared to RMB 36,340,000 in the same period last year, reflecting a decrease of 61.1%[7] - Basic and diluted loss per share improved to RMB (0.27) from RMB (0.64) in the previous year, indicating a 57.8% improvement[7] - The company incurred a loss of RMB 15,928,000 during the reporting period, with a significant impact from foreign exchange differences[19] - The company reported a net cash outflow from operating activities of RMB 19,368,000 for the six months ended June 30, 2020, compared to RMB 1,629,000 in the same period last year[37] - The company incurred a loss attributable to owners of the company of RMB 15,928,000 for the six months ended June 30, 2020, compared to a loss of RMB 31,841,000 for the same period in 2019, indicating a reduction in losses by approximately 50%[79] Assets and Liabilities - The company’s total assets decreased to RMB 358,524,000 from RMB 380,434,000, a reduction of 5.7%[13] - The group’s total liabilities decreased to RMB 163,302,000 as of June 30, 2020, from RMB 182,215,000 as of December 31, 2019[65] - The company’s total equity attributable to the owners of the company as of June 30, 2020, was RMB 253,166,000, reflecting a decrease of RMB 31,594,000 compared to the previous period[16] - The group maintained a current ratio of approximately 2.07 as of June 30, 2020, up from 1.99 as of December 31, 2019[140] - The asset-liability ratio as of June 30, 2020, was 40%, a slight decrease from 41.2% as of December 31, 2019[141] Cash Flow and Investments - The company raised new bank loans amounting to RMB 3,000,000 during the financing activities, while net cash outflow from financing activities was RMB 7,601,000[37] - Cash and cash equivalents as of June 30, 2020, were RMB 80,108,000, compared to RMB 58,324,000 at the end of the previous year[37] - The company reported a decrease in cash flow from investment activities, with a net cash inflow of RMB 907,000 compared to a net outflow of RMB 31,523,000 in the previous year[37] - The company’s investment activities included purchasing property and equipment for RMB 5,692,000 and intangible assets for RMB 367,000[37] Revenue Segments - Revenue from online training services was RMB 42,733,000, up 11.5% from RMB 38,360,000 in the previous year[47] - The financial services segment generated revenue of RMB 2,877,000, compared to RMB 2,517,000 in the previous year, reflecting a growth of 14.3%[47] - The group’s total revenue from external sales in the education consulting and online training segment was RMB 51,146,000 for the six months ended June 30, 2020[54] - Revenue from education consulting and online training and education business was approximately RMB 51.1 million, accounting for 94.6% of total revenue during the reporting period[121] Operational Efficiency - Service costs for the reporting period were approximately RMB 22.9 million, a decrease of about 10.5% compared to RMB 25.6 million for the same period last year[126] - Sales and marketing expenses were approximately RMB 9.4 million, a reduction of about 26% from RMB 12.7 million in the same period last year, primarily due to decreased consulting fees[126] - Administrative expenses were approximately RMB 31.6 million, down 14.1% from RMB 36.8 million for the same period last year, mainly due to reductions in entertainment, consulting fees, and rental expenses[127] - The group currently operates over 150 large-scale online training and education service platforms for institutional users and a mobile internet education platform with over 6 million paying users[130] Future Outlook and Strategy - The company anticipates sufficient growth potential in its education consulting and online training and education business due to the large market in China[122] - The company plans to provide online training services in new regions in China in the second half of 2020[122] - The group plans to continue expanding its online and offline services in the continuing education sector for professionals, aiming to increase market share[135] - The group expects to launch its first fund in the second half of the year as part of its restructured securities brokerage and asset management business[137] Shareholder Information - The total number of shares held by the directors and senior management as of June 30, 2020, is 1,303,516,323, representing approximately 21.86% of the issued share capital[172] - Major shareholder Headwind Holdings Limited holds 680,000,000 shares, representing approximately 11.41% of the issued share capital[182] - The company has no arrangements that allow any director or management member to benefit from purchasing the company's securities during the reporting period[179] Compliance and Governance - The company has complied with the corporate governance code throughout the reporting period, with some non-executive directors unable to attend the annual general meeting[187]