Financial Performance - The total revenue for the fiscal year 2024 was approximately RMB 112.0 million, a decrease of about RMB 79.0 million or 41.4% compared to RMB 190.9 million in fiscal year 2023[14] - The gross profit fell from approximately RMB 17.6 million in fiscal year 2023 to about RMB 3.3 million in fiscal year 2024, a decrease of approximately RMB 14.3 million or 81.5%[14] - The gross profit margin decreased from approximately 9.2% in fiscal year 2023 to about 2.9% in fiscal year 2024[14] - The net loss attributable to shareholders for fiscal year 2024 was approximately RMB 9.5 million, compared to a loss of about RMB 2.6 million in fiscal year 2023[14] - The total loss and comprehensive loss increased from approximately RMB 2.6 million in FY2023 to about RMB 9.5 million in FY2024, an increase of approximately RMB 6.9 million or 270.7%[30] Cost Management - Sales costs decreased from approximately RMB 173.3 million in fiscal year 2023 to about RMB 108.7 million in fiscal year 2024, a reduction of approximately RMB 64.6 million or 37.3%[21] - Sales expenses decreased from approximately RMB 8.2 million in FY2023 to about RMB 5.2 million in FY2024, primarily due to reduced shipping costs resulting from lower sales volume[23] - Administrative expenses decreased from approximately RMB 17.7 million in FY2023 to about RMB 13.4 million in FY2024, mainly due to a reduction in travel and entertainment expenses by approximately RMB 1.2 million and a decrease in R&D expenses by approximately RMB 2.3 million[24] - Employee costs for FY2024 are approximately RMB 10.5 million, down from RMB 12.4 million in FY2023, reflecting a reduction in workforce from 113 to 83 employees[45] Market Outlook - The decrease in orders from major customers was attributed to a gap between expired contracts and newly acquired contracts[20] - The company anticipates stable demand for tobacco products despite government anti-smoking policies, with an expected increase in demand for mid-to-high-end cigarettes due to rising purchasing power[15] Strategic Plans - The company plans to continue optimizing and managing resources to seize long-term growth opportunities in the market[15] - The company will leverage its expertise to formulate effective strategies aimed at increasing market share[15] Asset Management - The company recorded long-term asset impairment provisions during fiscal year 2024, impacting financial performance significantly[17] - Capital expenditures for FY2024 amounted to approximately RMB 3.7 million, a significant decrease from approximately RMB 22.4 million in FY2023, primarily due to purchases of property, plant, and equipment[36] - The group had no capital commitments as of December 31, 2024, compared to approximately RMB 1.9 million as of December 31, 2023[37] Corporate Governance - The company adheres to high standards of corporate governance and has complied with all applicable provisions of the corporate governance code as of December 31, 2024[63] - The company has adopted the standard code for securities trading by directors, confirming compliance for the year ending December 31, 2024[64] - The board consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors[66] - The company held two board meetings during the fiscal year ending December 31, 2024, with all directors attending both meetings[70] - The company has received annual confirmations of independence from all independent non-executive directors, ensuring compliance with listing rules[73] Diversity and Inclusion - The gender ratio of employees, including senior management, is approximately 57:26 as of December 31, 2024, indicating a commitment to gender diversity[84] - The board has adopted a diversity policy, ensuring at least one female member and plans to increase this number over the next five years[83] - The company is committed to equal opportunity, diversity, and anti-discrimination principles in its workplace[139] Environmental Sustainability - The company emphasizes environmental sustainability in its operations, integrating this principle into various aspects of its business[143] - The board has committed to integrating environmental sustainability into the company's daily operations and business strategy[200] Shareholder Communication - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and transparency[119] - The company encourages shareholders to provide updated contact information for timely communication[125] - The company’s website serves as a channel for effective communication with shareholders, providing regular updates and information[125] Audit and Compliance - The audit committee is responsible for reviewing the integrity of financial statements and the effectiveness of risk management and internal control systems[91] - The company has engaged a compliance advisor to ensure adherence to listing rules[110] Future Developments - Future business developments are discussed in the management discussion and analysis section of the annual report[141] - The company’s main business remains unchanged, focusing on investment holding and the manufacturing and sales of cigarette packaging paper in China[136]

Financial Performance - For the fiscal year ending December 31, 2024, revenue decreased by approximately 41.4% to about RMB 112.0 million, compared to RMB 190.9 million in 2023[2] - Gross profit for the same period fell by approximately 81.5% to about RMB 3.3 million, down from RMB 17.6 million in 2023[2] - The company recorded a loss attributable to shareholders of approximately RMB 9.5 million for the fiscal year, compared to a loss of RMB 2.6 million in 2023[2] - Basic loss per share for the fiscal year was approximately RMB 1.2 cents, compared to RMB 0.3 cents in 2023[2] - The total revenue for the year ended December 31, 2024, was RMB 111,977 thousand, a decrease from RMB 190,944 thousand in 2023, representing a decline of approximately 41%[27] - The group’s total revenue decreased from approximately RMB 190.9 million in FY2023 to about RMB 112.0 million in FY2024, a reduction of approximately RMB 79.0 million or 41.4%[56] - The group recorded a net loss and total comprehensive loss increased from approximately RMB 2.6 million in FY2023 to about RMB 9.5 million in FY2024, an increase of approximately 6.9 million or 270.7%[66] Assets and Liabilities - Total assets decreased to RMB 261.7 million in 2024 from RMB 365.1 million in 2023[10] - Total liabilities decreased to RMB 51.0 million in 2024 from RMB 144.9 million in 2023[10] - Cash and cash equivalents decreased to RMB 53.2 million in 2024 from RMB 95.1 million in 2023[10] - Trade receivables decreased to RMB 104.2 million in 2024 from RMB 131.8 million in 2023[10] - The company reported a net trade receivables amount of RMB 104,249,000 in 2024, down from RMB 131,766,000 in 2023, representing a decrease of about 21%[51] - The net inventory value decreased to RMB 40,631,000 in 2024 from RMB 57,726,000 in 2023, a reduction of approximately 30%[48] - Trade payables decreased to RMB 32,067,000 in 2024 from RMB 69,599,000 in 2023, indicating a reduction of about 54%[52] Expenses - The cost of raw materials and goods sold was RMB 99,462 thousand in 2024, down from RMB 166,123 thousand in 2023, indicating a reduction of about 40%[32] - Employee costs decreased to RMB 10,453 thousand in 2024 from RMB 12,391 thousand in 2023, reflecting a decline of approximately 15%[32] - Research and development expenses amounted to RMB 4,930 thousand in 2024, down from RMB 7,267 thousand in 2023, a decrease of about 32%[37] - The total operating expenses for the year were RMB 127,314 thousand in 2024, down from RMB 199,244 thousand in 2023, representing a decrease of approximately 36%[32] - The group’s selling expenses decreased from approximately RMB 8.2 million in FY2023 to about RMB 5.2 million in FY2024, primarily due to reduced shipping costs from lower sales volume[59] - The group’s administrative expenses decreased from approximately RMB 17.7 million in FY2023 to about RMB 13.4 million in FY2024, mainly due to a reduction in travel and entertainment expenses[60] Dividends - The board has resolved not to recommend the payment of a final dividend for the fiscal year ending December 31, 2024[2] - The company did not declare or pay any dividends for the fiscal year ending December 31, 2024, consistent with 2023[44] - The board has decided not to recommend a final dividend for the fiscal years 2023 and 2024[80] Accounting Standards - The company expects that the adoption of HKFRS 18 will not impact its net profit, but it may affect the calculation and reporting of operating profit due to the reclassification of income and expenses into new categories[23] - The presentation of cash flows will change, with interest received classified under investing activities and interest paid under financing activities, effective from January 1, 2027[24] - The company has identified potential impacts from the adoption of new accounting standards, including changes in the presentation of goodwill and intangible assets on the balance sheet[23] - Management is currently assessing the detailed impact of the new standards on the consolidated financial statements, with no significant changes expected in the disclosures of material information[23] - The company anticipates that the amendments and new interpretations of accounting standards will not have a significant impact on current or future reporting periods[21] - The new standards are expected to enhance comparability and provide more relevant information and transparency to users of the financial statements[22] - The company will need to make significant new disclosures regarding performance metrics defined by management and the nature of expenses presented in the income statement[23] - The amendments to HKAS 1 and HKFRS 18 will introduce new requirements that may broadly affect the presentation and disclosure of financial performance statements[22] - The company plans to adopt the new standards starting from January 1, 2027, with prior year comparative information restated according to HKFRS 18 requirements[24] - The company has not early adopted any of the new standards that are not yet effective, as they are not expected to have a significant impact on the financial statements[21] Employee Information - The group had 83 employees as of December 31, 2024, down from 113 employees in the previous year[81] - The total employee cost for the fiscal year 2024 was approximately RMB 10.5 million, down from RMB 12.4 million in fiscal year 2023[81] Governance and Compliance - The company’s annual performance for the fiscal year 2024 has been reviewed by the Audit Committee and is in compliance with applicable accounting standards and listing rules[88] - The company has established an Audit Committee to oversee financial reporting and internal controls[87] - The Board of Directors is responsible for the overall governance and supervision of the company[86] - The Audit Committee consists of three independent non-executive directors, ensuring compliance with listing rules[87] - The company expresses gratitude to the management team and all employees for their hard work and dedication during the year[93] Future Plans and Events - The company plans to utilize approximately HKD 90.3 million in net proceeds for various purposes, including enhancing production capacity and expanding the product portfolio[79] - The annual general meeting is scheduled for May 23, 2025, with a suspension of share transfer registration from May 20 to May 23, 2025[89] - There were no significant events requiring disclosure after December 31, 2024[83] - The company has no significant investments or acquisitions planned for the fiscal year 2024[76] Impairments - The company experienced a significant impairment charge on long-term assets during the fiscal year 2024, negatively impacting financial performance[54] - The group recorded a financial asset impairment provision of approximately RMB 2.0 million in FY2023 and about RMB 1.1 million in FY2024, mainly due to an increase in the total value of trade receivables and an expected loss rate increase[61] - The company reported a total asset impairment of RMB 3,208,000 related to equipment in 2024[45]

WEILI HOLDINGS LIMITED 偉立控股有限公司 （於開曼群島註冊成立的有限公司） 股份代號：2372 | --- | --- | --- | |-------|-----------|-------| | | | | | | | | | | | | | | 中期 報告 | | 公司資料 2 中期簡明綜合收益表 4 中期簡明綜合全面收益表 5 中期簡明綜合財務狀況表 6 中期簡明綜合權益變動表 8 中期簡明綜合現金流量表 9 中期簡明綜合財務資料附註 10 29 管理層討論及分析 企業管治及其他資料 36 偉立控股有限公司 二零二四年中期報告 t 3 非執行董事 胡浩然先生 獨立非執行董事 劉一敏先生 陳仰德先生 馮苑女士 審核委員會 陳仰德先生(主席) 劉一敏先生 馮苑女士 薪酬委員會 馮苑女士(主席) 陳仰德先生 陳偉莊先生 主要往來銀行 提名委員會 中國銀行紅安支行 中國 劉一敏先生(主席) 湖北省 馮苑女士 紅安縣 余天兵先生 偉立控股有限公司 • 二零二四年中期報告 公司資料 董事會 執行董事 陳偉莊先生(主席） 余天兵先生(行政總裁) 公司秘書 余子敖先生(HKICPA) 授權代表 ...

Financial Performance - For the six months ended June 30, 2024, revenue decreased by approximately 10.2% to about RMB 57.1 million, compared to RMB 63.6 million for the same period in 2023[1] - Gross profit for the same period decreased by approximately 3.8% to about RMB 5.0 million, down from RMB 5.2 million in the prior year[1] - The company recorded a loss attributable to shareholders of approximately RMB 2.3 million, compared to a loss of RMB 3.9 million for the same period in 2023[1] - Basic loss per share for the six months ended June 30, 2024, was approximately RMB 0.3 cents, compared to RMB 0.5 cents for the same period in 2023[1] - Total revenue decreased from approximately RMB 63.6 million for the six months ended June 30, 2023, to approximately RMB 57.1 million for the current reporting period, a decline of about RMB 6.5 million or 10.2%[28] - The total loss and comprehensive loss decreased from approximately RMB 3.9 million to about RMB 2.3 million, mainly due to cost control measures[38] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 309.6 million, down from RMB 365.1 million as of December 31, 2023[5] - Current assets decreased to RMB 263.7 million from RMB 319.1 million at the end of the previous year[5] - Cash and cash equivalents decreased to RMB 67.2 million from RMB 95.1 million as of December 31, 2023[5] - The total equity attributable to shareholders was RMB 217.9 million, slightly down from RMB 220.2 million at the end of 2023[6] - Non-current liabilities decreased to RMB 90.1 million from RMB 143.3 million at the end of the previous year[6] - Trade receivables (net) as of June 30, 2024, were RMB 105,247,000, down from RMB 131,766,000 as of December 31, 2023, indicating a decrease of approximately 20.2%[23] Expenses - Total expenses for the six months ended June 30, 2024, amounted to RMB 61,858 thousand, down from RMB 69,431 thousand in the previous year, reflecting a decrease of 10.1%[15] - The cost of raw materials and goods used was RMB 49,310 thousand, a decrease of 11.5% from RMB 55,879 thousand in the prior year[15] - Employee costs were RMB 5,557 thousand, slightly down from RMB 5,807 thousand, indicating a reduction of 4.3%[15] - Sales expenses increased from approximately RMB 2.2 million to about RMB 2.5 million, an increase of approximately RMB 0.3 million or 13.6%[31] - Administrative expenses decreased from approximately RMB 8.8 million to about RMB 7.3 million, primarily due to reductions in product development costs and employee expenses[32] Taxation and Financial Policies - The group has been granted a preferential income tax rate of 15% as a high-tech enterprise in China for the six months ended June 30, 2024[18] - The group has implemented a 200% super deduction for eligible R&D expenses when determining taxable profits, which may positively impact future financial results[18] - The group expects no significant impact from the adoption of new accounting standards effective from January 1, 2024[10] - The group has not adopted new standards that will take effect in 2025 and 2027, which are not expected to have a significant impact on financial results[10] Shareholder Information - The board has resolved not to declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[1] - The company did not declare any interim dividends for the six months ended June 30, 2024, consistent with the previous year[22] - The company’s director, Mr. Chen, holds 339,040,000 shares, representing 42.38% of the total equity[55] - Director Mr. Yu holds 96,000,000 shares, accounting for 12.00% of the total equity[55] - Major shareholder Cheng Yi Limited owns 339,040,000 shares, which is 42.38% of the total equity[57] - Major shareholder Kai Dong Limited holds 146,960,000 shares, representing 18.37% of the total equity[57] - Major shareholder Yong Ning Limited owns 96,000,000 shares, which is 12.00% of the total equity[57] Employment and Workforce - The group had 109 employees as of June 30, 2024, down from 117 employees a year earlier[49] - Employee costs for the group totaled approximately RMB 5.6 million during the reporting period, compared to RMB 5.8 million in the same period of 2023[49] Corporate Governance - The company has established an audit committee to oversee financial reporting and compliance, consisting of three independent non-executive directors[63] - The audit committee has reviewed the unaudited interim financial results for the six months ending June 30, 2024, and agrees with the accounting treatment adopted by the company[64] - The company confirms compliance with the standard code for securities trading as of June 30, 2024[52] - There are no management or administrative contracts related to significant portions of the company's business during the reporting period[61] Future Outlook - The company anticipates a recovery in orders during the second half of 2024, as the reduction in orders is considered temporary[28] - The company expects stable demand for tobacco products in the foreseeable future, despite government smoking control policies[27] - The company is positioned to benefit from the shift towards mid-to-high-end tobacco products, which typically require advanced packaging materials[27] - The company has a strong R&D capability to provide customized products to its clients in the tobacco packaging industry[27] Capital and Investments - Capital expenditures during the reporting period included approximately RMB 0.6 million for machinery and about RMB 0.4 million for electronic and other equipment[42] - As of June 30, 2024, the group's capital commitments amounted to approximately RMB 2.1 million, an increase from RMB 1.9 million as of December 31, 2023[43] - The group reported no significant contingent liabilities as of June 30, 2024, and December 31, 2023[43] - The group had no major acquisitions or disposals during the reporting period, and there are no significant future investment plans as of June 30, 2024[43] - The group’s net cash available from the IPO, after deducting related expenses, was approximately HKD 90.3 million, with HKD 53.4 million remaining unutilized as of June 30, 2024[47] - The group has pledged assets including properties valued at approximately RMB 10.5 million and machinery valued at RMB 5.9 million as collateral for bank loans as of June 30, 2024[44] Stock Options - The company has adopted a stock option plan, allowing for the issuance of 80,000,000 shares, representing 10% of the issued shares as of January 1, 2024, and June 30, 2024[60] - No stock options have been granted under the stock option plan since its adoption, resulting in no exercised, canceled, or expired options as of June 30, 2024[60] - The company has not set any secondary limits for service providers under the stock option plan[60] Miscellaneous - The company has not reported any new strategies or market expansions in the provided documents[53] - The company expresses gratitude to its management team and employees for their hard work and dedication during the reporting period[66] - The interim report for the six months ending June 30, 2024, will be published in accordance with listing rules[65] - The company has not engaged in any purchases, sales, or redemptions of its listed securities[53] - The group has no significant events occurring after the reporting period[50]

Financial Performance - The total revenue for the fiscal year 2023 was approximately RMB 1.909 billion, a decrease of approximately RMB 981 million or 33.9% compared to RMB 2.890 billion in fiscal year 2022[10]. - Gross profit fell from approximately RMB 604 million in fiscal year 2022 to about RMB 176 million in fiscal year 2023, a decrease of approximately RMB 428 million or 70.9%[10]. - The gross profit margin decreased from approximately 20.9% in fiscal year 2022 to about 9.2% in fiscal year 2023[10]. - The company recorded a net loss attributable to shareholders of approximately RMB 26 million in fiscal year 2023, compared to a profit of approximately RMB 250 million in fiscal year 2022[10]. - The group reported a total comprehensive loss of approximately RMB 2.6 million in FY2023, compared to a profit of approximately RMB 25.0 million in FY2022, mainly due to the decrease in revenue and gross profit[27]. Cost Management - Sales costs decreased from approximately RMB 2.285 billion in fiscal year 2022 to about RMB 1.733 billion in fiscal year 2023, a reduction of approximately RMB 552 million or 24.1%[18]. - Sales expenses decreased from approximately RMB 9.1 million in FY2022 to approximately RMB 8.2 million in FY2023, primarily due to reduced shipping costs from lower sales volume and increased marketing expenses related to new tenders[20]. - Administrative expenses decreased from approximately RMB 30.0 million in FY2022 to approximately RMB 17.7 million in FY2023, mainly due to a reduction in listing expenses of about RMB 7.1 million and a decrease in R&D expenses of about RMB 4.8 million[21]. Market Outlook - The decline in orders was primarily due to a temporary reduction in orders from several major customers, attributed to the National Tobacco Monopoly Administration's revision of cigarette packaging policies[17]. - The company anticipates stable demand for tobacco products in the foreseeable future, despite government smoking control policies[11]. - There is an expected increase in demand for mid-to-high-end cigarettes due to rising purchasing power among Chinese citizens[11]. - The company aims to develop effective strategies to increase market share in the evolving tobacco packaging industry[14]. Capital Expenditures and Financial Position - Capital expenditures for FY2023 amounted to approximately RMB 22.4 million, significantly up from approximately RMB 0.7 million in FY2022, primarily for the purchase of property, plant, and equipment[34]. - As of December 31, 2023, the group had cash and cash equivalents totaling approximately RMB 95.1 million, down from approximately RMB 110.3 million as of December 31, 2022[31]. - The group recorded a net provision for financial asset losses of approximately RMB 2.0 million in FY2023, compared to a reversal of approximately RMB 0.9 million in FY2022, primarily due to an increase in the total value of trade receivables and a rise in expected loss rates[22]. Corporate Governance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, ensuring compliance as of December 31, 2023[69]. - The board of directors consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors[72]. - The company provides ongoing professional development for directors to ensure they are informed and compliant with corporate governance codes[88]. - The board has established mechanisms to ensure strong independence, including appointing at least three independent non-executive directors[81]. Employee and Remuneration Policies - The company has 113 employees as of December 31, 2023, a decrease from 117 employees in the previous year[46]. - The remuneration range for senior management members (excluding directors) for the year ending December 31, 2023, includes three individuals earning up to RMB 1,000,000[106]. - The company is committed to providing competitive and fair remuneration to attract and retain high-quality employees[109]. Shareholder Communication and Dividend Policy - The company emphasizes effective communication with shareholders to enhance investor relations and transparency[127]. - The board of directors has proposed not to declare a final dividend for the year ending December 31, 2023[161]. - The company has adopted a dividend policy aimed at balancing shareholder interests with prudent capital management, with no predetermined dividend payout ratio[160]. Risk Management and Compliance - The company has implemented sufficient and effective risk management and internal control systems to ensure effective business operations[121]. - The audit committee is responsible for reviewing the integrity of the company's financial statements and the effectiveness of its internal controls[97]. - The company has no significant or systemic non-compliance issues with relevant laws and regulations as of December 31, 2023[152].

Financial Performance - For the year ended December 31, 2023, revenue decreased by approximately 33.9% to about RMB 190.9 million, compared to RMB 289.0 million in 2022[3] - For the same period, gross profit fell by approximately 70.9% to about RMB 17.6 million, down from RMB 60.4 million in 2022[3] - The company recorded a loss attributable to shareholders of approximately RMB 2.6 million, compared to a profit of RMB 25.0 million in 2022[3] - Basic loss per share for the year was approximately RMB 0.3 cents, compared to basic earnings of RMB 3.6 cents per share in 2022[3] - The total revenue for the year ended December 31, 2023, was RMB 190,944 thousand, a decrease from RMB 288,962 thousand in 2022, representing a decline of approximately 34%[29] - Revenue from the sale of cigarette packaging paper and raw materials was RMB 190,752 thousand, down from RMB 288,726 thousand in the previous year, indicating a significant drop of about 34%[29] - The group recorded a net loss of approximately RMB 2.6 million in FY2023, compared to a profit of about RMB 25.0 million in FY2022, mainly due to the decrease in revenue and gross profit[72] Dividends and Shareholder Returns - The board has resolved not to recommend the payment of a final dividend for the year ended December 31, 2023[3] - The company did not declare or pay any dividends for the year ended December 31, 2023, consistent with 2022[46] - The board has resolved not to recommend the payment of final dividends for fiscal years 2022 and 2023[87] Assets and Liabilities - Total assets increased to RMB 365.1 million in 2023 from RMB 322.8 million in 2022[12] - Total liabilities rose to RMB 144.9 million in 2023 from RMB 100.0 million in 2022[12] - The net current assets decreased to RMB 175.7 million in 2023 from RMB 198.6 million in 2022[12] - As of December 31, 2023, the net book value of property, plant, and equipment is RMB 21,941,000, a decrease from RMB 24,362,000 in 2022, reflecting a reduction of approximately 10%[47] - The total inventory as of December 31, 2023, is RMB 57,726,000, compared to RMB 55,718,000 in 2022, indicating an increase of about 3.6%[49] - Trade receivables as of December 31, 2023, amount to RMB 137,694,000, an increase from RMB 111,346,000 in 2022, which is an increase of about 23.6%[52] - Trade payables as of December 31, 2023, are RMB 69,599,000, up from RMB 62,221,000 in 2022, reflecting an increase of approximately 11.5%[54] Expenses and Cost Management - The company reported a significant reduction in administrative expenses, which decreased to RMB 17.7 million from RMB 30.0 million in 2022[5] - Total expenses for the year 2023 amounted to RMB 199,244 thousand, a decrease of 25.5% from RMB 267,595 thousand in 2022[33] - Research and development expenses decreased to RMB 7,267 thousand in 2023 from RMB 12,045 thousand in 2022, reflecting a reduction of 39.5%[33] - The company recorded a decrease in material and goods costs to RMB 166,123 thousand in 2023 from RMB 226,471 thousand in 2022, a reduction of 26.7%[33] - The cost of sales for the year ended December 31, 2023, is RMB 169,245,000, down from RMB 227,756,000 in 2022, representing a decrease of approximately 25.7%[50] Operational Insights - The company operates primarily in China, with all business activities conducted within this market during the reporting period[28] - The company has a single operating segment for strategic decision-making purposes, focusing on the manufacturing and sales of cigarette packaging paper[28] - The company anticipates stable demand for tobacco products despite government smoking control policies, with an expected increase in demand for mid-to-high-end cigarette packaging materials[58] - The company plans to continue optimizing resources and developing effective strategies to increase market share in the future[58] - The company has experienced a temporary decrease in orders for transfer paper and composite paper due to regulatory changes in cigarette packaging policies[57] Financial Position and Commitments - As of December 31, 2023, the group had cash and cash equivalents totaling approximately RMB 95.1 million, down from RMB 110.3 million as of December 31, 2022[73] - The group's bank borrowings amounted to RMB 30.0 million as of December 31, 2023, compared to zero on December 31, 2022[73] - The capital debt ratio as of December 31, 2023, was approximately 13.6%, compared to zero on December 31, 2022[74] - The group has no significant future investment or capital asset plans as of December 31, 2023[82] - The group has not made any significant investments, acquisitions, or sales involving subsidiaries or joint ventures during fiscal year 2023[83] Employee and Operational Metrics - The group had a total of 113 employees as of December 31, 2023, a decrease from 117 employees on December 31, 2022[88] - Total employee costs for fiscal year 2023 were approximately RMB 12.4 million, compared to RMB 13.7 million in fiscal year 2022, reflecting a decrease of about 9.5%[88] Compliance and Governance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance[18] - The Group's annual performance for the fiscal year 2023 has been reviewed by the Audit Committee, confirming compliance with applicable accounting standards and listing rules[97] - The annual general meeting is scheduled for May 24, 2024, with a suspension of share transfer registration from May 21 to May 24, 2024[98] - There have been no purchases, sales, or redemptions of the company's listed securities as of December 31, 2023[99] - The financial figures in the preliminary announcement for the year ending December 31, 2023, have been agreed upon by the Group's auditor, consistent with the audited consolidated financial statements[102]

WEILI HOLDINGS LIMITED 偉立控股有限公司 （於開曼群島註冊成立的有限公司） 股份代號：2372 中期 報告 Interim Report 中期報告 2023 WEIli Holdings Limited 偉立控股有限公司 偉立控股有限公司 二零二三年中期報告 目 錄 | 公司資料 | 2 | | --- | --- | | 中期簡明綜合收益表 | 4 | | 中期簡明綜合全面收益表 | 5 | | 中期簡明綜合財務狀況表 | 6 | | 中期簡明綜合權益變動表 | 8 | | 中期簡明綜合現金流量表 | 9 | | 中期簡明綜合財務資料附註 | 10 | | 管理層討論及分析 | 31 | | 企業管治及其他資料 | 38 | 偉立控股有限公司 二零二三年中期報告 偉立控股有限公司 二零二三年中期報告 公司資料 董事會 執行董事 陳偉莊先生 （主席） 余天兵先生 （行政總裁） 非執行董事 胡浩然先生 劉一敏先生 （主席） 馮苑女士 余天兵先生 公司秘書 余子敖先生 (HKICPA) 授權代表 獨立非執行董事 劉一敏先生 陳仰德先生 馮苑女士 審核委員會 陳仰德先生 （主席） 劉一敏先生 ...

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。 WEIli Holdings Limited 偉 立 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：2372） 截 至2023年6月30日 止 六 個 月 之 中 期 業 績 公 告 中 期 業 績 摘 要 • 截 至2023年6月30日 止 六 個 月，收 益 減 少 約67.5%至 約 人 民 幣63.6百 萬元（截至2022年6月30日止六個月：約人民幣195.5百萬元）。 • 截 至2023年6月30日 止 六 個 月，毛 利 減 少 約88.2%至 約 人 民 幣5.2百 萬元（截至2022年6月30日止六個月：約人民幣43.9百萬元）。 • 截 至2023年6月30日 止 六 個 月，本 集 團 錄 得 本 公 司 股 東 應 佔 虧 損 約 人 民 幣3.9百 萬 元（截 至2022年6月30日 止 六 個 月：本 公 司 股 東 應 佔 溢利約人民幣20.0百萬元 ...

Financial Performance - The total revenue for the fiscal year 2022 was approximately RMB 289.0 million, a decrease of about 22.0% compared to RMB 370.3 million in the fiscal year 2021[11]. - Gross profit for the fiscal year 2022 was approximately RMB 60.4 million, down RMB 21.4 million or 26.2% from RMB 81.8 million in the fiscal year 2021, resulting in a gross margin decrease from 22.1% to 20.9%[11]. - The profit attributable to shareholders for the fiscal year 2022 was approximately RMB 25.0 million, compared to RMB 35.7 million in the fiscal year 2021[11]. - The overall revenue of the company decreased by approximately RMB 81.3 million or 22.0% to about RMB 289.0 million for the fiscal year 2022, compared to approximately RMB 370.3 million for fiscal year 2021[20]. - Total comprehensive income decreased by approximately RMB 10.7 million or 30.0% to about RMB 25.0 million for fiscal year 2022, compared to approximately RMB 35.7 million for fiscal year 2021[31]. - The cost of sales decreased by approximately RMB 60.0 million or 20.8% to about RMB 228.5 million for fiscal year 2022, from approximately RMB 288.5 million in fiscal year 2021[21]. - Employee costs for the fiscal year 2022 totaled approximately RMB 137 million, an increase from RMB 121 million in the previous fiscal year[49]. Operational Challenges - The company faced operational challenges due to power shortages in Hubei Province and COVID-19 restrictions, impacting customer orders and overall performance[15][16]. - The operational adjustments made in response to local government requests during power shortages posed challenges to maintaining optimal production levels[16]. Market Outlook - Future demand for tobacco products is expected to remain stable despite government anti-smoking policies, with an anticipated increase in demand for mid-to-high-end cigarette packaging due to rising consumer purchasing power[12]. - The company expects stable demand for tobacco products in China despite government smoking control policies, with an anticipated increase in demand for mid-to-high-end cigarettes due to rising purchasing power[50]. Corporate Governance - The company adheres to high standards of corporate governance and has complied with the applicable code provisions since the listing date[71]. - The board is responsible for formulating business policies and strategies, ensuring sufficient resources, and the effectiveness of internal control systems[73]. - The board consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors[74]. - The board is committed to ensuring at least three independent non-executive directors, meeting the independence requirements of the listing rules[80]. - All independent non-executive directors confirmed their independence and there are no circumstances affecting their independence[80]. - The company has established a mechanism to ensure strong independence elements within the board[81]. - The board has adopted a diversity policy to enhance performance quality and support strategic goals[89]. Shareholder Communication - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of the group's operational performance and strategies[126]. - The company has adopted a shareholder communication policy to ensure transparency and timely disclosure of information to facilitate optimal investment decisions[128]. - The company encourages shareholders to provide updated contact information to ensure timely and effective communication[131]. - Shareholders holding at least 10% of the paid-up capital can request the board to convene a special general meeting within two months of the request[122]. - The company has established procedures for shareholders to propose inquiries and convene special meetings, ensuring transparency and shareholder rights[120]. Capital Management - The company decided not to declare a final dividend for fiscal year 2022, while a dividend of approximately RMB 37.9 million was declared for fiscal year 2021[44]. - The company has adopted a dividend policy aimed at balancing shareholder interests with prudent capital management, with no predetermined dividend payout ratio[158]. - The company had cash and cash equivalents totaling approximately RMB 110.3 million as of December 31, 2022, compared to approximately RMB 58.6 million as of December 31, 2021[34]. - The company had no bank borrowings as of December 31, 2022, down from RMB 10.0 million as of December 31, 2021[34]. Board Composition and Diversity - Liu Yimin appointed as independent non-executive director on June 2, 2022, with over 8 years of corporate management experience[60]. - Chen Yangde appointed as independent non-executive director on June 2, 2022, with over 15 years of experience in auditing, accounting, and financial management[63]. - Feng Yuan appointed as independent non-executive director on June 2, 2022, with over 10 years of experience in IT business management[64]. - Li Xiaoli serves as Chief Financial Officer with over 30 years of experience in accounting and financial management[65]. - Bao Zhigang serves as Chief Technology Officer with over 15 years of experience in the paper industry[67]. - Song Zhengmei serves as Chief Product Officer with over 10 years of experience in product quality control[68]. - As of December 31, 2022, the gender ratio of the company's employees (including senior management) is approximately 80:37, indicating a commitment to gender diversity[91]. - The company has established a board diversity policy, ensuring at least one female board member and plans to increase this number over the next five years[90]. Risk Management - The company faced various risks and uncertainties as outlined in the "Risk Factors" section of the prospectus[160]. - The board is responsible for maintaining effective internal controls and risk management systems, ensuring shareholder interests and asset protection[118]. - The audit committee assists the board in reviewing the effectiveness of the internal control and risk management systems, with annual assessments conducted[118]. Related Party Transactions - The group reported that the largest customer accounted for approximately 21.1% of total revenue in the year, down from 25.4% in 2021, while the top five customers represented 74.9% of total revenue, slightly decreasing from 75.4% in 2021[145]. - The group’s largest supplier accounted for about 23.4% of total procurement, an increase from 22.6% in 2021, and the top five suppliers represented approximately 55.8% of total procurement, up from 54.0% in 2021[145]. - The related party transactions disclosed in the financial statements do not meet the definitions of "connected transactions" or "continuing connected transactions" under the listing rules[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。 WEIli Holdings Limited 偉 立 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：2372） 截 至2022年12月31日 止 年 度 的 年 度 業 績 公 告 財 務 摘 要 • 截 至2022年12月31日 止 年 度，收 益 減 少 約22.0%至 約 人 民 幣289.0百 萬元（2021年：約人民幣370.3百萬元）。 • 截 至2022年12月31日 止 年 度，毛 利 減 少 約26.2%至 約 人 民 幣60.4百 萬 元（2021年：約人民幣81.8百萬元）。 • 截至2022年12月31日止年度，本集團錄得本公司股東應佔溢利約人 民幣25.0百萬元（2021年：約人民幣35.7百萬元）。 • 截至2022年12月31日止年度，每股基本盈利約為人民幣3.6分（2021年： 約人民幣5.9分）。 ...