润歌互动(02422)发布公告，集团预期截至2025年6月30日止六个月将会取得税后纯亏损不少于人民币 1730万元，较截至2024年6月30日止六个月的税后纯利约人民币270万元减少740.7%。集团亦预期截至 2025年6月30日止六个月将取得经调整净亏损(即界定为就汇兑差额及按公平价值计入损益的金融资产的 公平价值变动经调整的期内(亏损)╱溢利)不少于人民币1570万元，较截至2024年6月30日止六个月的经 调整纯利约人民币400万元减少492.5%。 于2025年，全球经济状况仍不容乐观，经济增长持续低迷。有鉴于此，公司的策略是密切关注经济发展 趋势及市场竞争形势变化。公司致力专注及提振主要业务及发展AI数字彩票门店模式，精简资本分配 及提高营运效率。同时，公司计划强化潜在风险意识，坚持审慎的风险管理策略，从而在复杂多变的经 济形势下，将有助确保公司稳步增长。此外，在企业数字化服务和行业数字化服务的核心框架内，公司 矢志积极拓展战略愿景，敏锐洞察及把握新商机，以期于未来实现异业赋能服务。公司采取灵活的业务 策略，激发公司业务增长的活力及韧性，促进企业持续稳健发展。 董事会认为该减少主要归因于：(i) ...

董事会认为该减少主要归因于：(i)由于2025年中国消费市场氛围持续低迷，很多企业纷纷削减营销预算 及整体广告水平。加上通讯业务代理政策调整，集团虚拟商品采购及交付服务收益有所减少；及(ii)鉴 于不确定的市场环境，集团在甄选优质客户方面延续其审慎政策以控制信贷风险。 格隆汇8月22日丨润歌互动(02422.HK)发布公告，集团预期截至2025年6月30日止六个月将会录得税后纯 亏损不少于人民币1730万元，较截至2024年6月30日止六个月的税后纯利约人民币270万元减少740.7% 或约人民币2000万元。集团亦预期截至2025年6月30日止六个月将录得经调整净亏损(即界定为就汇兑差 额及按公平价值计入损益的金融资产的公平价值变动经调整的期内(亏损)╱溢利)不少于人民币1570万 元，较截至2024年6月30日止六个月的经调整纯利约人民币400万元减少492.5%。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Rego Interactive Co., Ltd 於 二 零 二 五 年，全 球 經 濟 狀 況 仍 不 容 樂 觀，經 濟 增 長 持 續 低 迷。有 鑒 於 此，我 們 的 策 略 是 密 切 關 注 經 濟 發 展 趨 勢 及 市 場 競 爭 形 勢 變 化。我 們 致 力 專 注 及 提 振 主要業務及發展AI數 字 彩 票 門 店 模 式，精 簡 資 本 分 配 及 提 高 營 運 效 率。同 時， 我 們 計 劃 強 化 潛 在 風 險 意 識，堅 持 審 慎 的 風 險 管 理 策 略，從 而 在 複 雜 多 變 的 經 濟 形 勢 下，將 有 助 確 保 本 公 司 穩 步 增 長。此 外，在 企 業 數 字 化 服 務 和 行 業 數 字 化 服 務 的 核 心 框 架 內，我 們 矢 志 積 極 拓 展 戰 略 願 景，敏 銳 ...

Rego Interactive Co., Ltd （潤歌互動有限公司） （於開曼群島註冊成立的有限公司） （股份代號：2422） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 董事會會議召開日期 潤 歌 互 動 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董 事（「董 事」）會 （「董事會」）謹 此 宣 佈，本 公 司 將 於2025年8月29日（星 期 五）舉 行 董 事 會 會 議，藉 以（其 中 包 括）批 准 本 集 團 截 至2025年6月30日 止 六 個 月 之 中 期 業 績 及 其 刊 發， 以 及 考 慮 派 付 中 期 股 息（如 有）。 謹代表董事會 潤歌互動有限公司 主 席 陳 平 香 港，2025年8月19日 於 本 公 告 日 期，執 行 董 事 為 陳 平 先 生、田 歡 先 生、張 永 利 先 生、范 連 順 先 生、夏 遠 波 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Rego Interactive Co., Ltd （潤歌互動有限公司） （於開曼群島註冊成立的有限公司） （股份代號：2422） 有關二零二四年年報之補充公告 茲 提 述 潤 歌 互 動 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度 之 年 度 報 告（「二零二四年年報」）。除 另 有 界 定 外，本 公 告 所 用 詞 彙 應 具 備 二 零 二 四 年 年 報 所 界 定 之 相 同 涵 義。 除 二 零 二 四 年 年 報 所 提 供 的 資 料 外，本 公 司 董 事 會（「董事會」）謹 此 提 供 有 關 董 事 會 報 告 所 披 露 股 份 獎 勵 計 劃（「股份獎勵計劃」）的 補 充 資 料。 股份獎勵計劃 於 二 零 二 三 年 一 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 潤歌互動有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02422 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | | 0.001 USD | | | 2,000,000 | | 增加 / 減少 (-) | | | | | | USD | | | | | 本月底結存 | | | 2,000,000,000 | USD | | 0.001 USD | | | 2 ...

Group 1 - The company, Runge Interactive, announced a share transfer agreement to acquire all issued shares of the target company, Caifang Technology Co., Ltd., for RMB 18.3 million, scheduled for June 30, 2025 [1] - The target company primarily engages in the welfare lottery business and marketing services, with significant ownership stakes held by various sellers [1] - The acquisition aligns with the company's strategy to expand its one-stop lottery solution services and enhance its customer base in the lottery sector [1] Group 2 - The target company possesses extensive sales channels and resources in the lottery field, which will facilitate the company's growth in the lottery business [1] - The acquisition is expected to strengthen the synergy among the company's various business segments within the national lottery system [1] - The final acquisition price represents a 20% discount compared to the valuation report prepared by an independent qualified appraiser [1]

Financial Performance - The Group recorded revenue of RMB244.6 million for the year ended December 31, 2024, representing an increase of approximately 28.0% compared to RMB191.1 million in the previous year[13]. - Revenue for 2024 reached RMB 244,646,000, representing a year-on-year increase of 28.0% compared to RMB 191,062,000 in 2023[22]. - The total revenue for the year ended December 31, 2024, was RMB244.6 million, compared to RMB191.1 million in 2023[87]. - Corporate digitalisation solution services revenue increased by 35.2%, from approximately RMB158.9 million in 2023 to RMB214.9 million in 2024, representing 87.8% of total revenue in 2024[93]. - Revenue from tangible goods sourcing and delivery services contributed 47.0% of total revenue for the year ended December 31, 2024, compared to 9.7% for the year ended December 31, 2023[140]. - Revenue from hybrid services rose to RMB114.9 million in 2024, making up 53.5% of total revenue, compared to RMB18.6 million and 11.7% in 2023[97]. - Revenue from advertising agents was RMB75.9 million in 2024, accounting for 35.3% of total revenue, compared to RMB62.0 million and 39.0% in 2023[102]. Profitability and Loss - Gross profit decreased to RMB 65,808,000 in 2024, down 35.3% from RMB 101,667,000 in 2023[22]. - The company reported a loss before income tax of RMB 37,846,000 in 2024, a significant decline from a profit of RMB 14,899,000 in 2023, marking a change of -354.0%[22]. - The company's loss for the year increased by approximately RMB51.9 million, or 411.9%, from a profit of approximately RMB12.6 million for the year ended 31 December 2023 to a loss of approximately RMB39.3 million for the year ended 31 December 2024[163]. - Adjusted net loss for the year ended 31 December 2024 was approximately RMB27.9 million, compared to an adjusted net profit of approximately RMB21.7 million for the year ended 31 December 2023[170]. Assets and Liabilities - The total assets of the company as of December 31, 2024, were RMB 531,949,000, a decrease from RMB 637,384,000 in 2023[29]. - Total liabilities decreased to RMB 173,165,000 in 2024 from RMB 244,728,000 in 2023[29]. - The Group's interest-bearing borrowings as of December 31, 2024, were RMB 87.5 million, a decrease of 44% from RMB 156.2 million as of December 31, 2023[179]. - The Group's cash and cash equivalents decreased from RMB 186.5 million as of December 31, 2023, to RMB 139.0 million as of December 31, 2024[184]. Market and Industry Insights - The lottery market in China saw annual sales of approximately RMB 623.5 billion in 2024, an increase of 7.6% over 2023[36]. - Sales of the Welfare Lottery amounted to approximately RMB 208.0 billion in 2024, representing a 7.0% increase compared to 2023[36]. - The lottery market has expanded from RMB 373.3 billion in 2021 to RMB 623.5 billion in 2024[39]. - The company aims to expand its market presence in the Welfare Lottery and Sports Lottery sectors by focusing on lottery marketing tickets in 2025[79][81]. Strategic Initiatives - The Group plans to shift focus towards AI digital lottery stores to attract private domain traffic from lottery players and stores[14]. - The Group intends to maintain vigilant risk management strategies to secure steady progress amidst economic challenges[16]. - The Group aims to enhance its corporate digitalisation solutions by developing virtual and tangible goods sourcing and delivery services in the first half of 2024[48]. - The Group focuses on integrating online and offline experiences through its "Online-Merge-Offline" (OMO) strategy to improve customer experience and user lifetime value[43]. - The company plans to enhance its strategic investments to maximize synergies across different business segments and capitalize on diversification opportunities[84]. Operational Efficiency - The Company aims to enhance its main business areas, streamline capital distribution, and improve operational efficiency for steady growth[16]. - The company is committed to a prudent risk management strategy to ensure steady growth amid a complex economic environment[80]. - The integration of online and offline experiences is expected to drive future growth in corporate digitalisation services[99]. Employee and Staffing - Total staff costs amounted to approximately RMB54.0 million for the year ended 31 December 2024, compared to approximately RMB49.5 million for the year ended 31 December 2023[175]. - The number of full-time employees increased to 311 as of 31 December 2024, up from 257 in 2023[171]. - The company adopted an appraisal system for employees, conducting performance reviews monthly or quarterly to determine bonuses[174]. Research and Development - R&D expenses increased by approximately RMB3.3 million, or 15.7%, from approximately RMB21.0 million for the year ended 31 December 2023 to approximately RMB24.3 million for the year ended 31 December 2024[155]. - The company will continue to develop lottery software and hardware solutions, integrating AI-based technology to facilitate the digital transformation of lottery shops[83][85].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 244,646,000, representing a 28.0% increase compared to RMB 191,062,000 in 2023[6]. - Gross profit for the same period was RMB 65,808,000, which is a decrease of 35.3% from RMB 101,667,000 in the previous year[6]. - The company recorded a loss before tax of RMB 37,846,000, a significant decline of 354.0% compared to a profit of RMB 14,899,000 in 2023[6]. - The net loss attributable to shareholders was RMB 37,960,000, marking a 402.3% increase from a profit of RMB 12,558,000 in the prior year[6]. - The revenue from enterprise digital services increased by 35.2% from RMB 158.9 million in 2023 to RMB 214.9 million in 2024, accounting for 87.8% of total revenue in 2024[33]. - Revenue from physical goods procurement and delivery services contributed 53.5% to enterprise digital services in 2024, significantly increasing from the previous year[37]. - Online services generated RMB 100.0 million in 2024, representing 46.5% of total enterprise digital services revenue, while offline services accounted for 0.0%[35]. - Revenue from advertising agencies increased from RMB 62.0 million in 2023 to RMB 75.9 million in 2024, making up 35.3% of total enterprise digital services revenue[36]. - The total revenue for the year ended December 31, 2024, was RMB 244.6 million, compared to RMB 191.1 million in 2023[32]. - The company reported a net loss of RMB 39,290,000 for the year, compared to a profit of RMB 12,558,000 in 2023[85]. Market and Business Strategy - The Chinese lottery market is projected to reach annual sales of approximately RMB 623.5 billion in 2024, reflecting a growth of about 7.6% from 2023[10]. - The company has established business relationships with provincial welfare lottery management centers across 23 provinces and regions, covering over 130,000 lottery sales points[13]. - The company plans to launch a new product, the "Color Ticket Experience Voucher," aimed at enhancing customer marketing objectives[9]. - The digital marketing services sector has been a focus for the company since 2015, encompassing lottery, virtual goods procurement, and delivery services[12]. - The company aims to leverage its strong brand recognition and past collaboration with welfare lottery management centers to solidify its industry leadership[13]. - The company is focusing on cross-selling strategies to enhance customer retention through innovative product combinations[18]. - The company is reorganizing its operations into two main divisions: enterprise digital services and industry digital services, aiming for future cross-industry empowerment[15]. - The company is leveraging its advantages in serving the lottery industry across more than 23 provinces to enhance its industry digital services[23]. - The company plans to focus on AI digital lottery stores starting in 2025, leveraging private traffic from lottery operators and stores[26]. - The company aims to explore new growth areas and enhance its digital services, targeting various consumer segments through comprehensive marketing strategies[29]. Operational Efficiency and Cost Management - The company is committed to enhancing operational efficiency and simplifying capital allocation in response to ongoing economic challenges[27]. - The company will strengthen risk awareness and maintain a prudent risk management strategy to ensure steady growth amid complex economic conditions[28]. - The company maintains a cautious policy in selecting quality clients to control credit risk, which has positively impacted revenue growth[37]. - The company has over 4,459 stock-keeping units in its three warehouses to ensure operational efficiency and meet customer demands[21]. - The company has expanded its service range to include physical goods procurement and delivery services, covering over 4,459 different SKUs from more than 708 brands as of December 31, 2024[45]. Financial Position and Assets - As of December 31, 2024, the company had bank borrowings of RMB 87.5 million, down from RMB 156.2 million as of December 31, 2023[67]. - The company's asset-liability ratio as of December 31, 2024, was 28.0%, a decrease from 39.8% as of December 31, 2023[67]. - The company reported a fair value change of financial assets recognized in profit or loss of RMB 2,745 thousand for the year ended December 31, 2024[62]. - The company incurred goodwill impairment losses of RMB 2,359 thousand for the year ended December 31, 2024[62]. - The company's net asset value decreased from RMB 392,656 thousand in 2023 to RMB 358,784 thousand in 2024, reflecting a decline of about 8.6%[88]. - Cash and cash equivalents decreased from RMB 186,479 thousand in 2023 to RMB 138,994 thousand in 2024, a drop of approximately 25.5%[87]. - Inventory increased from RMB 3,817 thousand in 2023 to RMB 8,527 thousand in 2024, representing a growth of about 123.5%[87]. Future Outlook and Strategic Initiatives - The company plans to establish a marketing service operation platform by 2025 to provide employee reward redemption services, boosting morale across its supply chain[22]. - The company aims to enhance its virtual and physical goods procurement and delivery services to improve customer retention and user acquisition[16]. - By 2025, the company will focus on lottery marketing to capture growth opportunities in welfare and sports lottery sales[122]. - The company intends to leverage its strong R&D capabilities to develop software and hardware solutions for the lottery industry, promoting digital transformation[123]. - The company will prioritize strategic investments to maximize synergies across business segments and enhance its supply chain through e-commerce solutions[124]. Shareholder and Corporate Governance - The company has not declared any dividends for the years ending 2024 and 2023[113]. - The company signed a legally binding memorandum of understanding on December 22, 2023, to acquire 100% of Shanghai Maichun Brand Management Co., Ltd., which provides e-commerce solutions to brand partners in China[69]. - The company has adopted a share option scheme as detailed in its articles of association[146]. - The board of directors includes both executive and independent non-executive directors[147]. - The company is registered in the Cayman Islands and its shares are listed on the main board of the Hong Kong Stock Exchange[145].

Advertising Market and Digital Transformation - The advertising market in China in 2024 shows strong adaptability and resilience, with advertisers seeking long-term and high-quality development[11] - Over 90% of advertisers have a demand for new product development, with new products and technology being the main focus[11] - Digital transformation is driving rapid changes in marketing strategies for enterprises in 2024[8] - Over 90% of advertisers in China are looking forward to new product launches, with new products and technologies being a major focus[13] Lottery Market and Public Welfare - China's lottery market sales in 2023 reached RMB 579.7 billion, a 36.5% increase from 2022, with Welfare Lottery sales at RMB 194.4 billion (up 31.1%) and Sports Lottery sales at RMB 385.3 billion (up 39.3%)[14][16] - From January to May 2024, the lottery market grew by 12.2% year-on-year, continuing its upward trend since 2021[15][16] - Public welfare funds raised through lottery sales in 2023 exceeded RMB 58.0 billion, accounting for 29.83% of Welfare Lottery funds, with RMB 2.6 billion allocated to elderly care and disability support[15][16] - The company has established business relationships with provincial Welfare Lottery centers in 23 regions, covering over 130,000 lottery sales points[18][20] - The company is one of the leading suppliers of lottery solutions in China, providing hardware, systems, software, and related services for the lottery market[36] - The company's lottery-specific communication system has been uniformly deployed in 23 provinces[38] - The company won over 20 tenders in the first half of 2024, mainly for supplying lottery terminals or maintenance services for the integrated business security access system, including a newly developed province[38] - Revenue from lottery-related software systems and equipment solutions decreased from RMB13.3 million in H1 2023 to RMB8.2 million in H1 2024[43] - The company plans to focus on AI digital lottery stores in the second half of 2024 and beyond to gather private domain traffic from lottery players and stores[39] - The company's industry digitalization solutions services focus on the lottery sector, leveraging its experience serving over 23 provinces in the welfare lottery market[35] - Revenue from industry digitalization solution services decreased by 38.3% from RMB13.3 million for the six months ended 30 June 2023 to RMB8.2 million for the six months ended 30 June 2024[68] - Over-time revenue of industry digitalization solution services increased from RMB6.0 million to RMB7.9 million during the periods ended 30 June 2023 and 2024[68] - Approximately RMB3.7 million revenue from sales of lottery-related systems and equipment had not yet been transferred to the WLIACs as of 30 June 2024[68] Corporate Digitalization Solutions - The company restructured its operations into two main segments: Corporate Digitalization Solutions Services and Industry Digitalization Solutions Services, aiming for cross-industry empowerment[22][23] - The company's corporate digitalization services aim to enhance private domain traffic for enterprises through virtual and tangible goods sourcing and delivery services[22][24] - Revenue from corporate digitalization solution services increased by 94.2% from RMB55.6 million in H1 2023 to RMB108.0 million in H1 2024, driven by tangible goods sourcing and delivery services[47] - Tangible goods sourcing and delivery services contributed RMB50.8 million in H1 2024, compared to RMB1.0 million in H1 2023[43] - Corporate digitalization solution services accounted for 93.0% of total revenue in H1 2024, up from 80.7% in H1 2023[47] - Online services generated RMB107.4 million in H1 2024, representing 99.5% of revenue from corporate digitalization solution services[49] - Revenue from enterprise customers grew to 69.3% of total corporate digitalization service revenue in 2024, up from 48.9% in 2023, driven by a focus on high-quality customers and tangible goods sourcing and delivery services contributing 43.7% of revenue[51][52] - Virtual goods sourcing and delivery services generated RMB32.0 million in 2024, representing 29.6% of corporate digitalization service revenue, with online vouchers and interests contributing 60.6% of this segment's revenue[57][58] - Enterprises' private domain traffic marketing services revenue reached RMB22.9 million in 2024, with cross-enterprises' corporation services accounting for 92.2% of this revenue[55][56] - Revenue from advertising agents decreased to 30.7% of total corporate digitalization service revenue in 2024, down from 51.1% in 2023[51] - The acquisition of ASMKT contributed to the growth in virtual goods sourcing and delivery services, with RMB3.0 million in revenue in 2023 and a full six-month contribution in 2024[57] - Telecom top-up services accounted for 22.1% of virtual goods sourcing and delivery revenue in 2024, down from 43.4% in 2023[58] - Gas station gift cards contributed 17.3% of virtual goods sourcing and delivery revenue in 2024, a decrease from 31.3% in 2023[58] - The portion of online vouchers and interests increased significantly from 25.3% to 60.6% during the periods ended 30 June 2023 and 2024[60] - The total GMV of virtual goods amounted to RMB785.6 million and RMB726.5 million for the periods ended 30 June 2024 and 2023, respectively[60][61] - The number of virtual goods available was 776 for the six months ended 30 June 2023 and 318 for the reporting period[60][61] - Revenue from tangible goods sourcing and delivery services was RMB50.8 million and RMB1.0 million for the six months ended 30 June 2024 and 2023, representing 47.0% and 1.8% of corporate digitalization solution services revenue, respectively[63][64] - The company offered 6,693 and 141 different types of SKU with over 226 and 27 brands for the six months ended 30 June 2024 and 2023[65] Financial Performance and Expenses - Total revenue increased by RMB47.2 million (68.4%) from RMB69.0 million in H1 2023 to RMB116.2 million in H1 2024, driven by corporate digitalization solutions services, including virtual and tangible goods sourcing and delivery services[70][71] - Industry digitalization service revenue decreased by 38.3% from RMB13.3 million in H1 2023 to RMB8.2 million in H1 2024, primarily due to economic uncertainty and delayed revenue recognition from lottery system and equipment sales[69] - Cost of sales increased by RMB49.1 million (191.8%) from RMB25.6 million in H1 2023 to RMB74.7 million in H1 2024, with inventory costs accounting for 63.7% of total cost of sales in H1 2024[72][73] - Gross profit decreased by 4.4% from RMB43.4 million in H1 2023 to RMB41.5 million in H1 2024, with gross profit margin dropping from 63.0% to 35.7% due to increased tangible goods sourcing and delivery services[74] - Virtual goods sourcing and delivery services contributed 27.5% of total revenue in H1 2024, down from 39.3% in H1 2023, while tangible goods sourcing and delivery services increased from 1.5% to 43.7% of total revenue[74] - Other income decreased by RMB1.0 million (35.7%) from RMB2.8 million in H1 2023 to RMB1.8 million in H1 2024, mainly due to reduced net valuation losses and exchange rate effects[76][77] - Selling and distribution expenses increased by RMB7.0 million (179.5%) from RMB3.9 million in H1 2023 to RMB10.9 million in H1 2024, driven by higher marketing and business development costs[78] - Sales and distribution expenses increased by RMB 7.0 million, or 179.5%, from RMB 3.9 million in H1 2023 to RMB 10.9 million in H1 2024, primarily due to increased marketing and business development expenses[79] - Administrative expenses increased by RMB 0.7 million, or 5.0%, from RMB 13.9 million in H1 2023 to RMB 14.6 million in H1 2024, maintaining a stable level under business development[80] - Research and development expenses increased by RMB 0.9 million, or 9.6%, from RMB 9.4 million in H1 2023 to RMB 10.3 million in H1 2024[80] - Finance costs increased by RMB 1.6 million, or 177.8%, from RMB 0.9 million in H1 2023 to RMB 2.5 million in H1 2024, mainly due to increased bank borrowings for business expansion[81][82] - Income tax expenses decreased by RMB 1.6 million, or 80.0%, from RMB 2.0 million in H1 2023 to RMB 0.4 million in H1 2024, primarily due to a decrease in taxable profit[84][85] - Profit for the period decreased by RMB 8.8 million, or 76.5%, from RMB 11.5 million in H1 2023 to RMB 2.7 million in H1 2024[87][88] - Adjusted net profit for H1 2024 was RMB 4.0 million, compared to RMB 10.7 million in H1 2023[91] - Revenue for the six months ended 30 June 2024 increased to RMB 116,204,000, up from RMB 68,975,000 in the same period in 2023[172] - Gross profit for the six months ended 30 June 2024 was RMB 41,467,000, compared to RMB 43,420,000 in the same period in 2023[172] - Profit before income tax for the six months ended 30 June 2024 was RMB 3,184,000, down from RMB 13,488,000 in the same period in 2023[172] - Profit for the period attributable to owners of the company was RMB 5,374,000, compared to RMB 12,219,000 in the same period in 2023[172] - Basic and diluted earnings per share for the six months ended 30 June 2024 were RMB 0.01, down from RMB 0.02 in the same period in 2023[172] - The company's research and development expenses for the six months ended 30 June 2024 were RMB 14,564,000, up from RMB 13,898,000 in the same period in 2023[172] - The company's administrative expenses for the six months ended 30 June 2024 were RMB 10,317,000, up from RMB 9,385,000 in the same period in 2023[172] - Total assets decreased to RMB 609,819,000 from RMB 637,384,000 compared to the end of 2023[173] - Current assets decreased to RMB 554,310,000 from RMB 582,302,000 compared to the end of 2023[173] - Cash and cash equivalents decreased to RMB 118,908,000 from RMB 186,479,000 compared to the end of 2023[173] - Trade receivables decreased to RMB 146,349,000 from RMB 165,646,000 compared to the end of 2023[173] - Inventories increased to RMB 9,634,000 from RMB 3,817,000 compared to the end of 2023[173] - Total liabilities decreased to RMB 211,299,000 from RMB 244,728,000 compared to the end of 2023[174] - Net assets increased to RMB 398,520,000 from RMB 392,656,000 compared to the end of 2023[174] - Retained earnings increased to RMB 225,523,000 from RMB 223,382,000 compared to the end of 2023[175] - Non-controlling interests decreased to RMB (236,000) from RMB 0 compared to the end of 2023[174] - Total comprehensive income for the period was RMB 5,374,000[175] - Profit for the period was RMB 11.479 million[178] - Total comprehensive income for the period was RMB 12.219 million[178] - Cash flows from operating activities showed a net cash used of RMB 59.841 million[180] - Cash flows from investing activities resulted in a net cash used of RMB 11.764 million[181] - Cash flows from financing activities generated a net cash of RMB 4.034 million[181] - Net decrease in cash and cash equivalents was RMB 67.571 million[181] - Cash and cash equivalents at the end of the period stood at RMB 118.908 million[181] - Interest income for the period was RMB 259 thousand[180] - Depreciation of property, plant, and equipment amounted to RMB 2.082 million[180] - Provision for impairment loss on trade receivables was RMB 2.770 million[180] Corporate Governance and Shareholding - The company had 209 full-time employees as of 30 June 2024, with the majority based in Hangzhou, Shanghai, and Xi'an[92] - Total staff costs for the six months ended 30 June 2024 amounted to approximately RMB25.3 million, a 22.2% increase from RMB20.7 million in the same period in 2023[93][94] - The Group had 209 full-time employees as of 30 June 2024, primarily located in Hangzhou, Shanghai, and Xi'an, China[94] - Interest-bearing borrowings as of 30 June 2024 totaled approximately RMB162.3 million, with RMB24.0 million unsecured and guaranteed, RMB49.8 million secured and guaranteed, and RMB88.5 million unsecured and unguaranteed[96][98] - The Group's gearing ratio as of 30 June 2024 was 40.7%, up from 39.8% as of 31 December 2023[100] - Cash and cash equivalents decreased by RMB67.6 million from RMB186.5 million as of 31 December 2023 to RMB118.9 million as of 30 June 2024, primarily due to increased advances to suppliers and prepayments for a new office in Hangzhou[100] - The effective interest rates on borrowings for the six months ended 30 June 2024 ranged from 2.8% to 4.3% per annum[100] - The Group is conducting pre-acquisition due diligence on Shanghai Maichun Brand Management Company Limited, with the potential acquisition aimed at expanding the supplier and customer base and diversifying the business profile[102][103] - No options were granted or agreed to be granted under the Share Option Scheme during the reporting period[95][97] - The Group had lease liabilities of RMB70,000 as of 30 June 2024, down from RMB169,000 as of 31 December 2023[96][98] - The Group does not currently use any financial instruments for hedging purposes[101] - The company signed a legally binding memorandum of understanding to acquire 100% equity of Shanghai Maichun Brand Management Co., Ltd., aiming to expand its supplier and customer base and diversify its business portfolio[105] - As of 30 June 2024, the Group had capital commitments of RMB 14,000,000 for land use rights and RMB 1,169,000 for property, plant, and equipment[106] - The Group's pledged bank deposits with a carrying amount of RMB 55,217,000 were used to secure bank borrowings as of 30 June 2024[106] - The top five customers accounted for 57.3% and 69.2% of the company's revenue for the periods ended 30 June 2024 and 2023, respectively, with the largest customer contributing 30.2% and 31.1% respectively[107][108] - The top five suppliers accounted for 80.3% and 73.8% of the company's total cost of sales for the periods ended 30 June 2024 and 2023, respectively, with the largest supplier contributing 36.6% and 58.8% respectively[109] - The gross profit margin was 35.7% as of 30 June 2024, compared to 53.2% as of 31 December 2023[111] - The net profit margin was 2.4% as of 30 June 2024, compared to 6.6% as of 31 December 2023[111] - The current ratio was 2.6 times as of 30 June 2024, compared to 2.4 times as of 31 December 2023[111] - The gearing ratio was 40.7% as of 30 June 2024, compared to 39.8% as of 31 December 2023[111] - The debt-to-equity ratio was 10.9% as of 30 June 2024, with no applicable ratio as of 31 December 2023 due to higher cash and cash equivalents than total debts[111][115] - The company did not use any financial instruments for hedging foreign exchange risk during the six months ended 30 June 2024, as the expected foreign exchange risk was not significant[119][120] - The Rights Issue was under-subscribed by 40,263,600 Rights Shares, representing approximately 8.05% of the total number of Rights Shares available for subscription[123][124] - The gross proceeds raised from the Rights Issue (including the Placing) are approximately HK$100 million before expenses[125] - Controlling shareholders, including Mr. Tian Huan, Mr. Chen Ping, and Mr. Zhang Yongli, have entered into non-competition agreements effective September 16, 2022, ensuring no involvement in competing businesses in China or other countries where the company operates[144] - As of June 30, 2024, Mr. Tian Huan holds a 47.00% interest in the company through controlled corporations, with 705,060,000 shares[148] - Mr. Chen Ping also