Financial Performance - For the year ended December 31, 2023, revenue decreased to approximately RMB 367.1 million from RMB 440.3 million in 2022, representing a decline of 16.6%[4] - Gross profit for the same period was RMB 73.1 million, down 15.8% from RMB 86.8 million in 2022[4] - Profit before tax fell to RMB 57.1 million, a decrease of 20.6% compared to RMB 71.9 million in the previous year[4] - Net profit for the year was RMB 41.3 million, down 23.5% from RMB 54.0 million in 2022, with a net profit margin decreasing from 12.3% to 11.3%[4][5] - The total comprehensive income for the year was RMB 40.7 million, a decline of 24.7% from RMB 54.1 million in the prior year[5] - Basic and diluted earnings per share were RMB 0.04, a decrease of 42.9% from RMB 0.07 in 2022[5] - Total revenue for the group was RMB 367,053,000 in 2023, down from RMB 440,329,000 in 2022, indicating a decrease of about 16.6%[18] - Revenue for aluminum alloy turbine sales decreased to RMB 356,673,000 in 2023 from RMB 432,409,000 in 2022, representing a decline of approximately 17.5%[18] - Revenue from Asian customers fell to RMB 191,063,000 in 2023, down 33.3% from RMB 286,475,000 in 2022[22] Costs and Expenses - Employee costs rose to RMB 48,167,000 in 2023 from RMB 47,449,000 in 2022, an increase of approximately 1.5%[26] - Research and development costs for the year amounted to RMB 9.1 million, indicating a focus on innovation despite overall revenue decline[7] - Research and development costs were RMB 9,106,000 in 2023, indicating a commitment to innovation despite overall revenue decline[27] - The effective tax expense for 2023 was RMB 15,830,000, down from RMB 17,936,000 in 2022, reflecting a decrease of about 11.7%[30] Assets and Liabilities - Total assets decreased slightly to RMB 409.4 million from RMB 421.9 million in 2022, while total liabilities also saw a reduction[8] - Trade receivables from third parties decreased to RMB 71,254,000 in 2023 from RMB 79,502,000 in 2022[43] - Trade payables to third parties decreased to RMB 26,666,000 in 2023 from RMB 54,173,000 in 2022[45] - Total liabilities decreased by 6.3% from approximately RMB 126.1 million in 2022 to approximately RMB 118.2 million in 2023, primarily due to a reduction in trade and other payables[71] - As of December 31, 2023, current assets were approximately RMB 409.4 million, a decrease of 3.0% from RMB 421.9 million as of December 31, 2022[72] - Cash and cash equivalents decreased by 17.4% to approximately RMB 223.7 million as of December 31, 2023, from RMB 270.7 million as of December 31, 2022, primarily due to increased inventory purchases[75] Dividends and Shareholder Returns - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2023[6] - The company declared a special dividend of HKD 0.03 per ordinary share, amounting to RMB 27,314,000, payable on January 19, 2024[41] - A special dividend of RMB 27.19 million was declared and approved during the reporting period, payable on January 19, 2024[110] Market and Business Operations - The company continues to engage in the research, design, manufacturing, and sales of various aluminum alloy products, indicating ongoing commitment to its core business[9] - The company participated in several international automotive parts exhibitions to expand its overseas market presence[49] - The company’s five largest customers in 2023 were wholesale traders and aftermarket retailers in the aftermarket sector[49] - Overseas market sales accounted for 66.9% of total revenue, with revenue from overseas markets increasing by 6.5% to approximately RMB 245.5 million in 2023[57] - Sales revenue from aluminum alloy wheels decreased from approximately RMB 432.4 million in 2022 to approximately RMB 356.7 million in 2023, attributed to a slowdown in global economic growth and increased price competition among foreign trade companies[55] Governance and Compliance - The company has maintained compliance with corporate governance codes and standards throughout the reporting period[114] - The audit committee consists of three independent non-executive directors, with Mr. Yang Min serving as the chairman, who possesses appropriate professional qualifications and accounting knowledge[120] - The external auditor, KPMG, confirmed that the financial figures in the preliminary announcement align with the audited consolidated financial statements for the year ending December 31, 2023[121] - The board of directors includes three executive directors and four independent non-executive directors, ensuring a diverse governance structure[126] Future Outlook and Strategy - The company plans to continue developing new products, expanding multi-channel sales and distribution networks, and investing in human capital to drive sustainable long-term growth[98] - The group aims to diversify its revenue sources and explore potential business opportunities, including expanding into live e-commerce and establishing a new subsidiary for this purpose[100] Financial Risks - The company faces various financial risks, including market risk, credit risk, and liquidity risk, which are actively managed[91] - The group faced minimal interest rate risk as floating rate financial instruments were limited to bank cash balances, with fixed rate instruments being lease liabilities and loans to related parties[96] - Currency risk primarily stemmed from receivables and cash balances denominated in currencies other than the functional currency, mainly involving USD[97]

Financial Performance - For the six months ended June 30, 2023, the company's revenue decreased by 21.16% to approximately RMB 161.7 million from RMB 205.1 million in the same period of 2022[8]. - Gross profit for the same period fell by 37.30% to RMB 24.9 million, compared to RMB 39.7 million in 2022[8]. - Profit before tax decreased by 33.80% to RMB 22.5 million, down from RMB 34.0 million in the previous year[8]. - Net profit for the period decreased by 34.51% from approximately RMB 25.5 million to approximately RMB 16.7 million, with a net profit margin decline from 12.41% to 10.32%[37]. - Operating profit decreased to RMB 19,283 thousand, a decline of 43.1% from RMB 34,026 thousand in the previous year[96]. - Total comprehensive income for the period was RMB 16,420 thousand, a decrease of 35.4% compared to RMB 25,417 thousand in 2022[98]. - Basic and diluted earnings per share were RMB 0.02, down from RMB 0.03 in the same period last year[98]. Revenue Breakdown - The total revenue from aluminum alloy turbines decreased by 21.77% from approximately RMB 201.2 million for the six months ended June 30, 2022, to approximately RMB 157.4 million for the six months ended June 30, 2023[21]. - Revenue from other products increased by 10.26% from approximately RMB 3.9 million to approximately RMB 4.3 million during the same period[22]. - Overseas market sales accounted for 63.51% of total revenue, with a decrease of 7.17% from approximately RMB 110.6 million to approximately RMB 102.7 million[23]. - Revenue from Asian customers for the six months ended June 30, 2023, was RMB 89,247 thousand, down 26.9% from RMB 122,237 thousand in 2022[118]. Cost and Expenses - Gross profit decreased by 37.28% from approximately RMB 39.7 million to approximately RMB 24.9 million, with a gross margin decline from 19.37% to 15.40%[25]. - Administrative and other operating expenses rose by 57.63% from approximately RMB 5.9 million to approximately RMB 9.3 million, attributed to the establishment of a new R&D department[30]. - Employee costs totaled RMB 21,464,000 for the six months ended June 30, 2023, down from RMB 22,127,000 in 2022, indicating a reduction of about 3.0%[124]. - The cost of inventory for the six months ended June 30, 2023, was RMB 136,805,000, a decrease from RMB 165,386,000 in 2022, reflecting a decline of approximately 17.3%[125]. Assets and Liabilities - The total assets as of June 30, 2023, were RMB 477.0 million, a decrease of 3.36% from RMB 493.6 million at the end of 2022[9]. - Total equity increased by 4.47% to RMB 383.9 million from RMB 367.5 million at the end of 2022[9]. - Cash and cash equivalents decreased by 22.31% from approximately RMB 270.7 million to approximately RMB 210.3 million[40]. - The company reported a decrease in trade and other payables to RMB 74,694 thousand from RMB 106,013 thousand at the end of 2022, reflecting a reduction of 29.5%[102]. - The company’s total liabilities decreased to RMB 74,694,000 from RMB 106,013,000 year-over-year[141]. Market and Product Development - The total number of aluminum alloy turbochargers sold exceeded 428,400 units, with approximately 262,300 units sold to overseas markets[12]. - The company successfully developed 196 new products during the reporting period[14]. - The company plans to continue expanding into new markets and acquiring new customers in the second half of 2023[15]. - The company maintained a strong focus on the aftermarket for automotive repair and maintenance parts, enhancing its competitive advantage[12]. Cash Flow and Investments - For the six months ended June 30, 2023, the company reported a net cash outflow from operating activities of RMB 14,286 thousand, a significant decrease from a net inflow of RMB 45,667 thousand in the same period of 2022[107]. - The company experienced a net cash outflow from investing activities of RMB 47,255 thousand, compared to RMB 3,999 thousand in the same period of 2022, indicating increased investment expenditures[107]. - Government grants received by the company amounted to RMB 5,630 thousand for the six months ended June 30, 2023, compared to RMB 898 thousand in 2022, reflecting a significant increase[120]. Shareholder Information - As of June 30, 2023, Xu Buyun holds a controlled interest in 750,000,000 shares, representing 75% of the company's equity[66]. - Xu Buyun indirectly owns 100% of First Oriental Limited, which holds 75% of the issued shares of the company[68]. - Xu Buyun's spouse, Chen Jiangyue, also holds a controlled interest in 750,000,000 shares, equivalent to 75% of the company's equity[69]. - The stock option plan adopted on November 18, 2022, allows for a maximum of 100,000,000 shares to be issued, representing 10% of the total issued shares at the time of listing[74]. Corporate Governance - The company has maintained compliance with the corporate governance code since its listing date[82]. - There have been no changes in director information that require disclosure under the listing rules[86]. - Public ownership of the company's issued share capital has remained above 25% since the listing date, in compliance with the listing rules[87].

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份內容而產生或因 依賴該等內容引致的任何損失承擔任何責任。 Buyang International Holding Inc 步陽國際控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2457） 截至2023年6月30日止六個月之中期業績公告 財務摘要 截至6月30日止六個月 2023年 2022年 變動 （人民幣千元）（人民幣千元） 收益 161,708 205,106 (21.16)% 毛利 24,903 39,720 (37.30)% 除稅前溢利 22,478 33,953 (33.80)% 期內溢利 16,681 25,456 (34.47)% 期內全面收益總額 16,420 25,417 (35.40)% 每股盈利（基本及攤薄（）人民幣元） 0.02 0.03 (33.33)% 步陽國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公 ...

Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 440.329 million, a slight decrease of 0.01% compared to RMB 440.356 million in 2021[14] - Profit before tax increased to RMB 71.920 million in 2022, representing a growth of 42.8% from RMB 50.323 million in 2021[14] - Net profit for the year was RMB 53.984 million, up 43.3% from RMB 37.663 million in 2021[14] - Gross profit rose by 12.4% from approximately RMB 77.2 million in 2021 to approximately RMB 86.8 million in 2022, primarily due to an increase in aluminum alloy turbine prices[40] - The gross profit margin improved from 17.5% in 2021 to 19.7% in 2022, attributed to rising prices of aluminum alloy turbines[41] - Revenue from overseas markets accounted for 52.4% of total revenue, decreasing from approximately RMB 291.8 million in 2021 to approximately RMB 230.5 million in 2022, a decline of 21.0%[38] - Revenue from the Asian market increased by 38.5% from approximately RMB 206.9 million in 2021 to approximately RMB 286.5 million in 2022[38] - Net profit for the year increased by 43.3% from approximately RMB 37.7 million in 2021 to approximately RMB 54.0 million in 2022, with a net profit margin rising from 8.6% in 2021 to 12.3% in 2022[49] Assets and Equity - Total assets as of December 31, 2022, reached RMB 493.602 million, an increase of 42% from RMB 348.262 million in 2021[15] - Total equity rose to RMB 367.464 million in 2022, a significant increase of 71.5% compared to RMB 214.420 million in 2021[15] - Cash and cash equivalents increased by 274.9% from approximately RMB 72.2 million as of December 31, 2021, to approximately RMB 270.7 million as of December 31, 2022, primarily due to proceeds from the listing[52] - The capital debt ratio decreased from 17.7% as of December 31, 2021, to 2.1% as of December 31, 2022[56] - Total assets increased by 41.7% from approximately RMB 348.3 million as of December 31, 2021, to approximately RMB 493.6 million as of December 31, 2022, mainly due to proceeds from the listing[50] Market Strategy and Operations - The company maintained a stable production capacity, producing millions of aluminum alloy turbines annually to meet market demand[4] - The company focuses on the aftermarket for automotive repair and maintenance, providing high-quality aluminum alloy turbines tailored to customer specifications[4] - Future outlook includes continued investment in product design and development to align with market trends and customer needs[4] - The company has established long-term business relationships with numerous clients both domestically and internationally, enhancing its market presence[4] - The company is committed to expanding its market reach and exploring potential mergers and acquisitions to drive growth[4] - The company plans to continue focusing on its competitive advantages and expanding sales in different regional markets[20] - The company operates 31 gravity casting machines and has a maximum designed annual production capacity of approximately 1.2 million aluminum alloy turbines[25] - The company plans to expand production capacity in 2023, including the purchase of new equipment for aluminum alloy turbine production and the construction of new production facilities[60] Expenses and Income - Sales and distribution expenses decreased by 20.0% from approximately RMB 10.2 million in 2021 to approximately RMB 8.2 million in 2022, primarily due to reduced transportation and customs clearance costs[45] - Administrative and other operating expenses increased by 2.9% from approximately RMB 14.8 million in 2021 to approximately RMB 15.2 million in 2022, mainly due to an increase in professional service fees[46] - Other income increased by 79.8% from approximately RMB 0.9 million in 2021 to approximately RMB 1.7 million in 2022, mainly due to an increase in government subsidies received[42] - Net financial income increased by 122.3% from approximately RMB 0.5 million in 2021 to approximately RMB 1.2 million in 2022, primarily due to increased interest income from bank deposits[47] Shareholder and Governance - The company successfully listed on the Hong Kong Stock Exchange on December 15, 2022, raising approximately HKD 75.1 million from the issuance of 250 million shares at HKD 0.50 each[25] - The company reported a net amount of approximately HKD 75.1 million from the global offering after deducting listing expenses[78] - As of December 31, 2022, the company had not utilized any of the net proceeds from the global offering, which are currently held in licensed banks in China and Hong Kong[79] - The company plans to allocate 57.0% of the net proceeds (approximately HKD 42.8 million) to expand production capacity by constructing new production facilities and warehouses[79] - The company has established a credit policy to monitor credit risk exposure, primarily from trade receivables[68] - The company has a low credit risk exposure due to cash and cash equivalents being primarily with banks[68] - The company maintains a high standard of corporate governance practices[199] - The audit committee has reviewed the accounting principles adopted by the group and discussed internal controls and financial reporting matters with management[197] - KPMG has been appointed as the auditor for the reporting period and will be proposed for reappointment at the annual general meeting[198] Risks and Challenges - The company faces significant risks related to international trade regulations, tariffs, and sanctions affecting sales[126] - The majority of revenue is derived from a limited number of customers, making the business vulnerable to any reduction or termination of sales to these key clients[132] - The company has identified risks associated with fluctuations in aluminum ingot prices, which could adversely impact financial performance[132] - The company operates under various legal and regulatory constraints in China, which may affect business operations and dividend distributions[132] - The company has not established long-term agreements with its few suppliers, exposing it to supply chain risks[132] - The company has experienced labor shortages and rising employee costs, which could impact operations[132] - The company’s ability to conduct business and remit dividends is subject to currency exchange controls and fluctuations in the RMB[132] - The company is committed to compliance with evolving cybersecurity regulations in China, with potential penalties for non-compliance[132] Leadership and Management - The company has a strong leadership team with diverse backgrounds in management, sales, and production, enhancing its strategic capabilities[90] - The management team collectively brings extensive experience from various sectors, contributing to the company's growth and strategic direction[98] - The leadership team is committed to driving innovation and exploring new product development opportunities[96] - The company emphasizes the importance of compliance and governance in its operational practices[97] - The company appointed Xu Jingjun as an executive director on September 25, 2020, who is responsible for human resources and major decision-making[87] - Ying Hui, appointed as an executive director on September 25, 2020, oversees daily management and strategic development of the company[88] - Hu Huijuan, also appointed on September 25, 2020, is the international sales manager, focusing on the company's international sales strategy[89] - Xu Buyun, the chairman and co-founder, has over 20 years of experience in the manufacturing industry and is responsible for production planning and investment strategies[93] - Zhu Ning, appointed as a non-executive director on September 25, 2020, participates in major decision-making and strategic development[95] Employee and Compensation - The total employee cost for the reporting period was approximately RMB 47.4 million, down from RMB 52.4 million in 2021[76] - As of December 31, 2022, the company employed 547 individuals, a slight decrease from 552 employees in the previous year[76] - The total compensation for senior management members ranged from RMB 175,000 to RMB 272,000, with no payments made for joining or leaving the group[164] - The company’s retirement and employee benefit plans are based on a defined contribution scheme mandated by local government regulations[165] Environmental and Social Responsibility - The company has not faced any significant fines or penalties due to non-compliance with environmental laws during the reporting period[135] - The company has established an environmental protection leadership team to manage and assess risks related to environmental, social, and governance matters[135]

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份內容而產生或因 依賴該等內容引致的任何損失承擔任何責任。 Buyang International Holding Inc 步陽國際控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2457） 截至2022年12月31日止年度之年度業績公告 本公司董事會欣然宣佈本集團截至2022年12月31日止年度之經審核綜合財務業 績，連同截至2021年12月31日止年度之比較數字。 業績摘要 截至12月31日止年度 2022年 2021年 同比變動 人民幣千元 人民幣千元 收益 440,329 440,356 (<0.01)% 毛利 86,772 77,169 12.4% 除稅前溢利 71,920 50,323 42.9% 年內溢利 53,984 37,663 43.3% 年內全面收益總額 54,068 37,685 43.5% 每股盈利（基本及攤薄） 人民幣0.07元 人民幣0.05元 40.0% ...