智通财经APP讯，雅高控股(03313)公布2023年业绩，收益约为人民币7750万元，同比减少13.0%;公司拥有人应占亏损约3.96亿元，同比扩大约1.67倍;每股亏损1.03元。 公告称，亏损净额增加主要由于收益及其他收入及收益分别减少约人民币1160万元及人民币520万元，及采矿权撇销约人民币2.82亿元(2022年：无)，被行政开支及财务成本分别减少约人民币530万元及人民币370万元，及采矿权及其他资产类别总减值亏损减少约人民币3770万元所抵销。 ...

Financial Performance - The group's revenue for the year ended December 31, 2023, was approximately RMB 77.5 million, a decrease of 13.0% or about RMB 11.6 million compared to RMB 89.1 million in 2022[2]. - The group's loss before tax was approximately RMB 393.1 million, an increase in loss of about RMB 243.7 million from RMB 149.4 million in 2022[2]. - The net loss for the group was approximately RMB 396.2 million, compared to a net loss of RMB 148.3 million in 2022[2]. - The basic and diluted loss per share attributable to ordinary equity holders was RMB 1.03, compared to RMB 0.62 in 2022[2]. - The total revenue for the year ending December 31, 2023, is reported at RMB 77,532,000, with segment revenue from the marble products division at RMB 76,624,000[15]. - The adjusted profit before tax for the marble products division shows a loss of RMB 38,385,000, while the other segment reports a loss of RMB 2,389,000, totaling an overall loss of RMB 40,774,000[15]. - Total revenue for the year ended December 31, 2022, was RMB 89,069,000, with a significant loss of RMB 149,377,000 before tax[16]. - The company reported a loss of RMB 19,693,000 from its main business segments, with specific losses of RMB 18,414,000 and RMB 1,279,000 from different divisions[16]. - The group reported a pre-tax loss from continuing operations of RMB 66,825 thousand for 2023, compared to RMB 64,120 thousand in 2022, indicating an increase in losses[21]. - The net loss attributable to the company's owners increased to approximately RMB 396.1 million in 2023, up from RMB 148.2 million in 2022, mainly due to a decrease in revenue and other income[61]. Assets and Liabilities - Total non-current assets decreased from RMB 1,464,092 thousand in 2022 to RMB 1,068,849 thousand in 2023, a decline of approximately 27%[4]. - Current assets increased from RMB 197,048 thousand in 2022 to RMB 267,460 thousand in 2023, representing a growth of about 36%[4]. - Total liabilities decreased from RMB 179,190 thousand in 2022 to RMB 170,950 thousand in 2023, a reduction of approximately 5%[4]. - Total equity decreased from RMB 1,129,746 thousand in 2022 to RMB 856,660 thousand in 2023, a decline of around 24%[5]. - The company's total assets decreased from RMB 1,481,950 thousand in 2022 to RMB 1,165,359 thousand in 2023, a decline of about 21%[4]. - The company's total current liabilities decreased from RMB 197,048 thousand in 2022 to RMB 170,950 thousand in 2023, a reduction of about 14%[4]. - The company's total non-current liabilities decreased from RMB 352,204 thousand in 2022 to RMB 308,699 thousand in 2023, a decline of approximately 12%[5]. - Cash and cash equivalents increased significantly from RMB 15,762 thousand in 2022 to RMB 100,956 thousand in 2023, marking a growth of approximately 540%[4]. - Trade receivables amounted to RMB 86,031,000 in 2023, an increase from RMB 84,883,000 in 2022, with a provision for credit losses of RMB (61,085,000) in 2023 compared to RMB (55,884,000) in 2022[29]. - The aging analysis of trade receivables at the end of the reporting period showed RMB 19,156,000 within one month, compared to RMB 13,545,000 in 2022[31]. Segment Performance - In 2023, the company reported revenue from marble products of approximately RMB 11.3 million, a decrease of 67.2% compared to RMB 34.4 million in the previous year due to weak market demand in the real estate sector[38]. - The calcium carbonate business contributed total revenue of approximately RMB 65.3 million, an increase of about RMB 12.2 million or 23.0% from RMB 53.1 million last year[40]. - Sales of marble products accounted for 14.6% (approximately RMB 11.3 million) of total revenue in 2023, down from 38.7% (approximately RMB 34.4 million) in 2022[49]. - Sales of calcium carbonate products represented 84.2% (approximately RMB 65.3 million) of total revenue in 2023, up from 59.6% (approximately RMB 53.1 million) in 2022[49]. Operational Efficiency and Strategy - The company plans to explore new strategies for market expansion and product development in the upcoming fiscal year[16]. - The company is focusing on improving operational efficiency to mitigate losses and enhance future profitability[16]. - The company adopted a low-margin strategy to promote sales and improve inventory turnover amid a challenging economic environment[37]. - The company has tightened credit policies and slowed down capital expenditures until the operating environment becomes clearer and more stable[37]. - The overall economic uncertainty in China has led to a lack of confidence in economic growth, impacting the company's performance[37]. - The company continues to monitor the market conditions closely and adjust its strategies accordingly[37]. Employee and Cost Management - Employee benefits expenses rose to RMB 18,758 thousand in 2023 from RMB 16,473 thousand in 2022, reflecting a year-over-year increase of approximately 13.9%[21]. - The total amount of employee benefits expenses was RMB 21,457 thousand in 2023, down from RMB 25,200 thousand in 2022, showing a decrease of about 14.0%[21]. - Employee costs, including director remuneration, totaled approximately RMB 21.5 million in 2023, down from RMB 25.2 million in 2022, reflecting a cost reduction of about 14.7%[78]. - Administrative expenses decreased by approximately RMB 5.3 million to RMB 49.8 million in 2023, down from RMB 55.1 million in 2022, mainly due to a reduction in equity-settled share-based payment expenses[56]. - Financial costs decreased by approximately RMB 3.7 million to RMB 20.6 million in 2023, down from RMB 24.3 million in 2022, primarily due to a reduction in the level of interest-bearing debt[59]. Governance and Compliance - The group has adopted new or revised International Financial Reporting Standards (IFRS) effective from January 1, 2023, with no significant impact on the financial statements[9]. - The company has not disclosed any significant accounting policy changes that would confuse the financial statements[10]. - The group did not recommend any dividend payment for the year ending December 31, 2023, consistent with the previous year[25]. - The effective corporate income tax rate for the group’s subsidiaries in mainland China is 25%, while Jiangxi Keyue enjoys a preferential rate of 15% due to its status as a "High-tech Enterprise"[22]. - The company has adhered to the corporate governance code throughout the fiscal year ending December 31, 2023, with minor deviations noted[108]. - The auditors confirmed that the financial statements for the year ending December 31, 2023, align with the audited consolidated financial results[111]. Future Outlook - The company plans to remain vigilant regarding unpredictable international developments and any external factors that may adversely affect its business[99]. - The company aims to consolidate operational results and adjust its business plans to adapt to the changing economic environment[99].

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 31,108,000, an increase of 15.5% compared to RMB 26,940,000 for the same period in 2022[6]. - Gross profit for the same period was RMB 7,742,000, representing a gross margin of 24.9%, up from RMB 6,681,000 in 2022[6]. - The company reported a net loss of RMB 40,426,000 for the six months ended June 30, 2023, compared to a net loss of RMB 36,242,000 in the prior year, indicating a 11.5% increase in losses[8]. - The company reported a total comprehensive loss of RMB (40,426,000) for the six months ended June 30, 2023, compared to a loss of RMB (36,242,000) for the same period in 2022[14]. - The company reported a pre-tax loss of RMB 38,594,000 for the first half of 2023, compared to a pre-tax loss of RMB 36,447,000 in the same period of 2022[29]. - The company's net loss attributable to owners for the period was approximately RMB 40.4 million, compared to RMB 36.2 million in the same period of 2022[111]. Assets and Liabilities - Total assets as of June 30, 2023, were RMB 1,615,955,000, down from RMB 1,661,040,000 as of December 31, 2022[10]. - Current liabilities increased to RMB 184,884,000 from RMB 179,190,000, reflecting a rise of 3.8%[10]. - The company’s non-current liabilities decreased to RMB 330,111,000 from RMB 352,204,000, a reduction of 6.3%[12]. - The company’s equity attributable to owners decreased to RMB 1,007,860,000 from RMB 1,036,604,000, a decline of 2.8%[12]. - Current liabilities exceeded current assets by approximately RMB 18,515,000, raising significant doubts about the company's ability to continue as a going concern[21]. - The company's debt-to-equity ratio was approximately 31.6% as of June 30, 2023, compared to 29.1% at the end of 2022[116]. Cash Flow - The net cash flow used in operating activities was RMB (39,383,000), compared to RMB (1,201,000) in the same period last year, indicating a significant increase in cash outflow[16]. - The financing activities generated a net cash flow of RMB 29,653,000, compared to RMB 26,537,000 in the previous year, showing a positive trend in financing[16]. - Cash and bank balances decreased to RMB 6,134,000 from RMB 15,762,000, a decline of 61%[10]. - The cash and cash equivalents at the end of the period were RMB 6,134,000, a decrease from RMB 23,206,000 at the beginning of the period[16]. Revenue Breakdown - Calcium carbonate products contributed RMB 28,312,000, accounting for 91.0% of total revenue, while marble products generated RMB 2,560,000, representing 8.2% of total revenue[27]. - Revenue from marble stone products for the first half of 2023 was approximately RMB 2.6 million, a 136% increase compared to RMB 1.1 million in the same period last year[73]. - The calcium carbonate business contributed approximately RMB 28.3 million to the company's revenue, compared to RMB 25.5 million in the same period last year[73]. - The warehousing and logistics segment generated revenue of approximately RMB 0.24 million, a decrease of 29.4% from RMB 0.34 million in the same period last year[75]. - The group recorded operating revenue of approximately RMB 31.1 million for the period, representing a 15.6% increase or approximately RMB 4.2 million compared to the same period last year[97]. Operational Insights - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming quarters[5]. - The management highlighted ongoing efforts in research and development for new technologies to drive future growth[5]. - The company is primarily engaged in the extraction, processing, trading, and sales of marble, calcium carbonate products, and logistics services[19]. - The sales volume of processed marble slabs increased to 5,229 square meters, compared to 3,264 square meters in the previous year[99]. Cost and Expenses - The total cost of goods sold for the period was RMB 23,366,000, an increase from RMB 20,259,000 in the previous year, reflecting rising operational costs[39]. - Administrative expenses were approximately RMB 22.3 million, accounting for 71.6% of revenue, a decrease of RMB 1.8 million from RMB 24.1 million in the same period of 2022[105]. - Financial costs decreased from RMB 15.2 million in the same period of 2022 to approximately RMB 10.2 million due to a reduction in overall borrowing rates[106]. - Employee benefits expenses remained stable at approximately RMB 6,800,000, slightly down from RMB 6,829,000 in the previous year[39]. Shareholder and Governance - The company plans to implement a rights issue to raise approximately RMB 110.99 million to improve liquidity, with a subscription price of HKD 0.20 per share[21]. - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2023, consistent with the previous year[64]. - The company has maintained compliance with the corporate governance code, with no deviations reported during the six months ending June 30, 2023[131]. - The company expresses gratitude to employees, shareholders, investors, partners, and customers for their contributions and support[139].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對 因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 ARTGO HOLDINGS LIMITED 雅 高 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3313） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 告 業績概覽 • 本集團截至二零二三年六月三十日止六個月的收益約人民幣31.1百 萬 元（二 零 二 二 年：約 人 民 幣26.9百 萬 元），增 加15.6%或 約 人 民 幣4.2 百萬元。 • 本 集 團 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 的 除 稅 前 虧 損 約 人 民 幣38.6百 萬 元（二 零 二 二 年：約 人 民 幣36.4百 萬 元），增 加 虧 損 約 人 民 幣2.2百萬元。 • 本 集 團 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 的 淨 虧 損 約 為 人 民 幣 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 ARTGO HOLDINGS LIMITED 雅 高 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3313） 有關截至二零二二年十二月三十一日止年度的年報的 補充公告 謹此提述雅高控股有限公司（「本公司」，連同其附屬公司，統稱為「本集團」）於二 零二三年四月二十七日刊發的截至二零二二年十二月三十一日止年度的年報（「年 報」）。除另有指明者外，本公告所用詞彙與年報所界定者具有相同涵義。 除年報中分別於董事會報告第38至41頁所載「購股權計劃」一節及財務報表附註29 所提供的資料外，董事會謹此根據上市規則第17.07及17.09條提供下列有關本集團 購股權計劃的額外資料： 1. 於本年度，緊接購股權獲行使日期前已行使購股權數目、股份行使價及收市 價概述如下： 行使日期前 已行使購股 每股行使價 股份的加權 權數目 （港元） 平均收市價 ...

Financial Performance - The company managed to increase its overall revenue by approximately 1.2% despite a challenging environment due to the COVID-19 pandemic and geopolitical tensions[5]. - The overall operating revenue for the year was approximately RMB 89.1 million, a slight increase of 1.2% from RMB 88.0 million in the previous year[18]. - The revenue from marble stone products for the year was approximately RMB 34.4 million, an increase of 10.2% from RMB 31.2 million in the previous year[10]. - The calcium carbonate business contributed total revenue of approximately RMB 53.1 million, a decrease of 3.6% from RMB 55.1 million in the previous year[13]. - The sales of marble stone products accounted for 38.7% of total revenue, while calcium carbonate products accounted for 59.6%[19]. - The total cost of sales for the year was approximately RMB 76.3 million, up from RMB 66.1 million in the previous year[20]. - The gross profit for the year was approximately RMB 12.8 million, a decrease of RMB 9.1 million compared to the previous year, resulting in a gross margin of 14.4%[22]. - Other income and gains decreased by approximately RMB 12.0 million to RMB 10.4 million, primarily due to reductions in VAT refunds, government subsidies, and rental income from investment properties[23]. - The company’s reserves available for distribution to shareholders as of December 31, 2022, were approximately RMB 991.7 million, down from RMB 1,132.9 million in 2021[162]. - The company did not recommend the payment of a final dividend for the year ended December 31, 2022, consistent with the previous year[159]. Strategic Initiatives - The company adopted a low-profit strategy to enhance sales and improve inventory turnover, while tightening credit policies for customers[9]. - The company plans to monetize non-core assets, particularly by selling its warehousing and logistics business, to generate immediate liquidity and reduce debt levels[6]. - The company is actively seeking debt restructuring and refinancing opportunities with non-bank lenders in China to lower financing costs and improve liquidity[5]. - The company will continue to monitor the changing business environment and adjust its business plans accordingly[6]. - The company aims to enhance its market presence and operational efficiency through strategic management and resource optimization[81]. - The company is focused on expanding its sales network into new regions, including North America and the Middle East, while also increasing penetration in existing markets[148]. Operational Adjustments - The company has gradually reduced its operations in Xiamen and shifted them to Jiangxi Province, where its largest marble mine and processing facilities are located[5]. - The company emphasizes the importance of operational efficiency and has slowed down capital expenditures until the business environment stabilizes[9]. - The company acknowledges the ongoing uncertainties and challenges in both the Chinese and global economies, particularly due to the Russia-Ukraine war and potential impacts on the banking sector in the US and Europe[8]. - The company believes that the impact of the pandemic will gradually diminish with the rollout of vaccines and the easing of restrictions by the Chinese government[6]. Inventory and Receivables - Inventory decreased by approximately 27.0% from RMB 59.9 million to RMB 43.7 million, mainly due to inventory write-downs and clearance of low-quality stock[32]. - Trade receivables increased from approximately RMB 26.4 million to RMB 29.0 million, attributed to approximately 69.8% of sales recorded in the second half of the year[34]. - Trade payables increased from approximately RMB 16.4 million to RMB 23.1 million, mainly due to a slowdown in payments to suppliers[35]. - Net current assets decreased by approximately 43.9% from RMB 31.9 million to RMB 17.9 million, primarily due to inventory write-downs[36]. Management and Governance - The board of directors consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors[77]. - The company has a strong management team with extensive experience in trade, investment, and brand management[79][81]. - The independent non-executive directors contribute to the governance and strategic oversight of the company, ensuring compliance and accountability[86]. - The company has adopted a board diversity policy, recognizing the benefits of diversity among board members, considering measurable aspects such as gender, age, cultural and educational background, and professional experience[108]. - The company has complied with the corporate governance code, except for the separation of the roles of chairman and chief executive officer, which is currently held by the same individual[99]. Environmental and Compliance Efforts - The company has implemented measures to mitigate environmental pollution, such as water conservation and recycling in marble mining operations[151]. - The company has established compliance procedures to ensure adherence to applicable laws and regulations that significantly impact its operations[152]. - The company has maintained a commitment to environmental protection and sustainable development, achieving notable accomplishments in environmental management[150]. Stock Options and Incentives - The company granted a total of 420,730,000 stock options under the stock option plan in April 2022, all of which were exercised within the year[180]. - The stock option plan aims to incentivize eligible participants to enhance their performance for the benefit of the group[177]. - A total of 883,730,000 stock options were granted during the year, with an exercise price of HKD 0.025[186]. - The stock options plan has been in effect since December 9, 2013, and will continue for 10 years[185]. Audit and Financial Oversight - The audit committee, established on December 9, 2013, is responsible for reviewing financial information and internal control procedures[115]. - The total audit fees paid to KPMG for the year ended December 31, 2022, amounted to RMB 1,200,000, with an additional RMB 100,000 for non-audit services[130]. - The board has reviewed the effectiveness of the internal control system, including resource adequacy and employee qualifications[131]. - The company has established a framework for risk management and internal control to protect assets and shareholder interests[141].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對 因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 ARTGO HOLDINGS LIMITED 雅 高 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3313） 有 關 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 年 度 業 績 公 告 之 澄 清 公 告 茲 提 述 雅 高 控 股 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）日 期為二零二三年三月三十一日的截至二零二二年十二月三十一日止年度 的年度業績公告（「年度業績公告」）。除文義另有所指外，本公告所用詞彙 與年度業績公告所界定者具有相同涵義。 本公司股東宜將本公告與年度業績公告一併閱讀。 本 公 司 謹 此 澄 清，由 於 無 心 之 失，本 集 團 的 貸 款 及 遞 延 收 入 於 二 零 二 二 年十二月三十一日的本集團綜合財務狀況表內被錯誤分類為其他應付款 項 及 應 計 費 用。因 此，本 公 司 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對 因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 ARTGO HOLDINGS LIMITED 雅 高 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3313） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 經 審 核 年 度 業 績 公 告 業績概覽 截至二零二二年十二月三十一日止年度： • 本 集 團 的 收 益 約 為 人 民 幣89.1百 萬 元（二 零 二 一 年：約 人 民 幣88.0百 萬元），增加1.2%或約人民幣1.1百萬元。 • 本 集 團 的 除 稅 前 虧 損 約 人 民 幣149.4百 萬 元（二 零 二 一 年：約 人 民 幣 416.2百萬元），減少虧損約人民幣 266.8百萬元。 • 本 集 團 的 淨 虧 損 為 約 人 民 幣148.3百 萬 元（二 零 二 一 年：約 人 民 幣 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 26,940,000, a decrease of 39.1% compared to RMB 44,398,000 for the same period in 2021[10] - Gross profit for the same period was RMB 6,681,000, down 54.8% from RMB 14,770,000 in 2021[10] - The company reported a loss before tax of RMB 36,447,000, slightly improved from a loss of RMB 39,436,000 in the previous year, indicating a 7.5% reduction in losses[10] - The net loss attributable to equity holders for the period was RMB 36,200,000, compared to RMB 39,387,000 in 2021, reflecting a 5.3% improvement[12] - The net cash flow from operating activities was RMB (1,201,000) for the first half of 2022, compared to RMB 71,299,000 in the same period of 2021[23] - The company reported a net loss of RMB 36,200,000 for the six months ended June 30, 2022, compared to a loss of RMB 39,387,000 in the same period of 2021[20] - The gross profit for the review period was approximately RMB 6.7 million, a decrease of about RMB 8.1 million compared to the same period last year, with a gross margin of 24.8%[137] - The net loss attributable to the company's owners for the review period was approximately RMB 36.2 million, a reduction from RMB 39.4 million in the same period last year, influenced by decreased operating gross profit, reduced financial costs, and lower impairment losses[147] Assets and Liabilities - Total non-current assets as of June 30, 2022, amounted to RMB 1,526,114,000, a slight increase from RMB 1,524,429,000 as of February 28, 2021[15] - Current assets totaled RMB 210,380,000, down from RMB 214,422,000 in the previous year, indicating a decrease of 1.9%[15] - The company’s total assets less current liabilities stood at RMB 1,538,698,000, a decrease from RMB 1,556,302,000 in the previous year[15] - The total non-current liabilities amounted to RMB 293,069,000 as of June 30, 2022[17] - The net assets of the company were RMB 1,263,233,000 as of June 30, 2022[17] - Trade receivables and bills amounted to RMB 90,083,000 as of June 30, 2022, slightly up from RMB 89,619,000 as of December 31, 2021[71] - The provision for credit losses on trade receivables increased to RMB 63,378,000 as of June 30, 2022, from RMB 63,195,000 as of December 31, 2021[71] - Trade payables totaled RMB 31,077,000 as of June 30, 2022, compared to RMB 16,380,000 as of December 31, 2021[76] - Other payables and accrued expenses reached RMB 119,717,000 as of June 30, 2022, up from RMB 117,273,000 as of December 31, 2021[76] - Total bank and other borrowings amounted to RMB 256,388,000 as of June 30, 2022, compared to RMB 246,373,000 as of December 31, 2021[78] - The current ratio as of June 30, 2022, was 1.06, a decrease from 1.17 as of December 31, 2021, primarily due to reduced revenue during the review period[151] - Total borrowings increased by approximately RMB 7.1 million to RMB 292.3 million as of June 30, 2022, compared to RMB 285.2 million as of December 31, 2021[152] - The debt-to-equity ratio was approximately 21.8% as of June 30, 2022, compared to 20.8% as of December 31, 2021[153] Revenue Breakdown - Revenue from calcium carbonate products was RMB 25,489,000, accounting for 94.6% of total revenue for the first half of 2022[34] - Revenue from marble products for the six months ended June 30, 2022, was RMB 26,600,000, while the total revenue was RMB 26,940,000, indicating a decrease from RMB 44,398,000 in the same period of 2021[37] - Revenue from marble products decreased significantly to RMB 1.1 million, a 94.6% drop compared to RMB 20.5 million in the same period last year due to adverse market conditions in the real estate sector and lockdowns affecting sales activities[100] - The calcium carbonate business contributed approximately RMB 25.5 million in revenue, an increase from RMB 22.7 million in the same period last year[102] - Sales of calcium carbonate products accounted for 94.6% of total revenue, amounting to approximately RMB 25.5 million[131] Cost Management - The company continues to focus on cost management, with administrative expenses reduced to RMB 24,144,000 from RMB 26,171,000, a decrease of 7.8%[10] - The cost of goods sold for the six months ended June 30, 2022, was RMB 20,259,000, down from RMB 29,628,000 in the same period of 2021[55] - Employee benefits expenses for the six months ended June 30, 2022, amounted to RMB 6,829,000[55] - Financial costs (excluding lease liabilities interest) for the six months ended June 30, 2022, were RMB 15,198,000, down from RMB 22,752,000 in the same period of 2021[48] - Administrative expenses amounted to RMB 24.1 million, representing approximately 89.6% of the revenue during the review period, a decrease from RMB 26.2 million in the same period last year, which accounted for 58.9% of the revenue[140] Shareholder Information - The company’s issued share capital was RMB 39,274,000 as of June 30, 2022[20] - The company’s total equity attributable to owners was RMB 1,170,009,000 as of June 30, 2022[20] - The company had a weighted average number of ordinary shares of 4,431,753,578 for the six months ended June 30, 2022, compared to 4,120,081,209 for the same period in 2021[60] - As of June 30, 2022, the total issued and paid-up ordinary shares increased to 4,630,847,501 shares from 4,368,767,501 shares as of December 31, 2021, representing a growth of approximately 6%[82] - The company directors and senior executives held a total of 43,777,000 shares, representing approximately 0.95% of the issued share capital[164] - The company has no major shareholders with interests or short positions in shares or related securities that require disclosure under the Securities and Futures Ordinance as of June 30, 2022[168] Corporate Governance - The company has maintained high levels of corporate governance to protect shareholder interests and enhance corporate value, accountability, and transparency[169] - There were no violations of the listing rules during the review period ending June 30, 2022[171] - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and practices adopted by the group during the review period[177] Market Conditions and Strategic Response - The ongoing geopolitical tensions and the COVID-19 pandemic have significantly impacted the company's overall business activities and operating environment[99] - The company has implemented tighter credit policies and slowed down capital expenditures in response to challenging market conditions[99] - The operational efficiency is being improved by gradually reducing business activities in Xiamen and relocating them to Jiangxi Province[99] - The company has paused further commodity trading activities due to uncertainties arising from the US-China trade relations, resulting in no revenue from this segment during the review period[103] - The logistics business was abandoned to focus resources on core operations, with warehouse sales negotiations delayed due to the pandemic[104] - The company plans to continue monitoring the impact of the COVID-19 pandemic and adapt its business strategies accordingly, while seeking beneficial projects for the company and its shareholders[160]

Financial Performance - The overall revenue of Artgo Holdings increased by approximately 19.1% despite challenges in the marble business due to the pandemic and geopolitical tensions[10]. - The company reported a total revenue of approximately RMB 88.0 million for 2021, an increase of 19.1% compared to RMB 73.9 million in 2020[25]. - Revenue from marble products was approximately RMB 31.2 million, a decrease of 19.4% compared to RMB 38.7 million in 2020[14]. - Sales of calcium carbonate products contributed approximately RMB 55.1 million to the company's revenue, representing a 72.7% increase from RMB 31.9 million in 2020[16]. - The marble stone products accounted for 35.6% of total revenue in 2021, down from 52.4% in 2020, with sales amounting to approximately RMB 31.2 million[25]. - The company’s total sales cost for 2021 was approximately RMB 66.1 million, compared to RMB 60.6 million in 2020, with marble stone product costs at RMB 19.7 million and calcium carbonate product costs at RMB 43.4 million[28]. - The group recorded a gross profit of approximately RMB 21.9 million in 2021, an increase of about RMB 8.6 million compared to 2020, with an overall gross margin of approximately 24.9% compared to 18.1% in 2020[31]. - Other income and gains amounted to approximately RMB 22.4 million in 2021, an increase of about RMB 1.6 million from RMB 20.8 million in 2020, primarily due to increases in VAT refunds and rental income[32]. - Other expenses decreased by approximately RMB 7.5 million to RMB 4.8 million in 2021 from RMB 12.3 million in 2020, mainly due to reduced depreciation from the sale of investment properties[33]. - Selling and distribution expenses were approximately RMB 2.5 million, accounting for about 2.9% of total revenue, down from RMB 2.9 million or 3.9% in 2020, reflecting tighter cost control[34]. - Administrative expenses increased by approximately RMB 6.6 million to RMB 61.6 million in 2021, primarily due to RMB 10.4 million in equity-settled share option expenses[35]. - The group reported a loss attributable to owners of approximately RMB 417.8 million, an increase of RMB 187.6 million compared to a loss of RMB 230.2 million in 2020[41]. Asset Management and Sales - The company sold eight investment properties to strengthen its financial position and liquidity during the challenging economic environment[13]. - The company sold eight investment properties in Shanghai, receiving total proceeds of RMB 153.5 million, resulting in a net loss of RMB 3.7 million from these sales[21]. - The company plans to seek opportunities to liquidate non-core assets to generate immediate liquidity and reduce debt levels[10]. - The company is actively seeking potential buyers for its logistics business, which it decided to divest in late 2019[20]. - The group completed three asset sales during the year, totaling RMB 153.5 million, resulting in a net loss of RMB 3.8 million from these sales[62]. Operational Challenges - The real estate sector, which is a key market for the company's marble products, has not fully recovered from the pandemic, with developers focusing on inventory clearance and debt restructuring[9]. - The ongoing geopolitical tensions and the impact of the Russia-Ukraine war present uncertainties for the company's future outlook[10]. - Artgo Holdings is closely monitoring the development of COVID-19 and its impact on financial performance, adjusting business plans accordingly[10]. - The company has delayed capital expenditures and purchases of raw materials until the operating environment stabilizes[13]. - The company anticipates that the significant revenue growth in its calcium carbonate business will slow down in 2022 due to current market conditions[16]. Mining Operations - In Q4 2021, the company commenced small-scale mining activities at Yongfeng Mine, extracting 703.2 cubic meters of marble after obtaining a new mining permit in 2020[15]. - The company’s marble raw material sales volume increased to 1,520 cubic meters in 2021 from 641 cubic meters in 2020[27]. - The estimated marble resource at the Dejiang mine is 2.1 million cubic meters, with 1.3 million cubic meters classified as controlled and 0.8 million cubic meters as inferred[72]. - The Yongfeng mine has an annual permitted extraction volume of 1.1 million cubic meters, with a mining license valid until June 5, 2030[76]. - The assessed mining rights value for the Yongfeng mine is approximately RMB 55.8 million, valid for 30 years[76]. - As of December 31, 2021, the estimated resource volume of Yongfeng Mine is 106.6 million cubic meters, with 51.2 million cubic meters classified as proven, 46.6 million cubic meters as controlled, and 8.8 million cubic meters as inferred[80]. - In 2021, the group produced approximately 703.2 cubic meters from Yongfeng Mine, a significant increase from 233.3 cubic meters in 2020, representing a growth of approximately 201%[82]. - The estimated marble resource volume at Zhangxi Mine as of December 31, 2021, is 29.7 million cubic meters, with 7.1 million cubic meters proven, 18.4 million cubic meters controlled, and 4.2 million cubic meters inferred[88]. - The group has not conducted exploration, development, or production activities at Zhangxi Mine in 2021, consistent with 2020[88]. - The estimated marble resource volume at Lichuan Mine as of December 31, 2021, is 4.55 million cubic meters, with 3.88 million cubic meters controlled and 0.67 million cubic meters inferred[96]. - The group has not conducted exploration, development, or production activities at Lichuan Mine in 2021, consistent with 2020[96]. - The group is applying for the renewal of the mining license for Zhangxi Mine to expand its mining area and increase marble resources, with no significant obstacles anticipated[85]. Management and Governance - The company appointed Mr. Yan Weiwen as Executive Director and CEO in March 2016, and he has nearly 28 years of experience in trade and investment[105]. - Mr. Zhang Jian, with nearly 16 years of experience in stone mining and processing, is currently the Vice President and General Manager of the Stone Production and Processing Division[106]. - The company has a strong management team with extensive experience in the construction materials sector, particularly in stone product processing and application in construction projects[106]. - The company has a diverse board with members holding various qualifications and experiences in finance and management[112]. - The company has adopted a board diversity policy, considering various measurable aspects such as gender, age, cultural background, and professional experience in board composition[141]. - The chairman and CEO roles are separated, with the current chairman also serving as the acting CEO since December 1, 2016, to strengthen leadership capabilities[142]. - The board has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Investment Committee, to oversee specific aspects of the company's affairs[148]. - The company is actively seeking to appoint a qualified candidate for the CEO position to comply with governance code requirements[146]. - The board confirmed that there are no significant uncertainties that may cast doubt on the company's ability to continue as a going concern[167]. - The company has established a training program for directors and senior management to ensure ongoing professional development and compliance with legal standards[165]. Compliance and Risk Management - The company has established a robust internal control system to safeguard its assets and shareholder interests, ensuring compliance with regulatory requirements[185]. - The company has a framework in place to identify, assess, and manage significant risks to achieve its operational goals[186]. - The group has implemented multiple measures to mitigate the impact of environmental pollution, such as conserving and recycling water used in marble mining[199]. - The group has established compliance procedures to ensure adherence to applicable laws, rules, and regulations that significantly impact its operations[200]. - The board has delegated the audit committee to monitor the group's compliance policies and practices, with regular reviews conducted[200]. - As of December 31, 2021, the group has complied with significant aspects of laws and regulations affecting its business and operations[200]. Future Outlook and Strategy - The company has set a revenue target of $500 million for the next fiscal year, representing a 25% increase from the current year[120]. - New product development includes the launch of a premium marble line, expected to contribute an additional $50 million in revenue[119]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share within the next three years[126]. - A strategic acquisition of a local competitor is in progress, projected to enhance production capacity by 40%[127]. - Financial management strategies have been revised, aiming for a 15% increase in profit margins by optimizing resource allocation[129].