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。 Ruihe Data Technology Holdings Limited 瑞和數智科技控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：3680） (1)委任獨立非執行董事； (2)董事委員會組成變動； 及 褚女士已確認(i)彼 在 聯 交 所 證 券 上 市 規 則（「上市規則」）第3.13條所述各項因 素方面具有獨立性；(ii)彼過往或現時在本集團業務中並無財務或其他權益， 與 本 公 司 任 何 核 心 關 連 人 士（定 義 見 上 市 規 則）並 無 任 何 關 連；及(iii)並無其 他因素可能影響彼於獲委任時的獨立性。 於 本 公 告 日 期，除 上 文 所 披 露 者 外，褚 女 士(i)並無於本公司股份中擁有香 港法例第571章證券及期貨條例第XV部 所 界 定 之 任 何 權 益；(ii)並無於本公 司及╱或本集團其他成員公司擔任任何其他職務；(iii)與本公司任何其他 ...

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。 Ruihe Data Technology Holdings Limited 瑞和數智科技控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：3680） 董事會會議召開日期 瑞 和 數 智 科 技 控 股 有 限 公 司（「本公司」）之 董 事（「董 事」）會（「董事會」）謹 此 宣 佈， 本 公 司 將 於 二 零 二 五 年 三 月 二 十 五 日（星 期 二）舉 行 董 事 會 會 議，其 中 議 程 包 括 考慮及批准本公司及其附屬公司截至二零二四年十二月三十一日止年度之全年 業 績 及 其 發 佈，及 考 慮 派 發 末 期 股 息 之 建 議（如 有）。 承董事會命 瑞和數智科技控股有限公司 董事會主席 薛守光 香港，二零二五年三月十三日 於 本 公 告 日 期，董 事 會 包 括 三 名 執 行 董 事：薛 守 光 先 生、趙 藝 晴 女 士 及 孫 得 鑫 先生；三名非執行董事： ...

Ruihe Data Technology Holdings Limited 瑞和數智科技控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：3680） 董事名單與其角色和職能 瑞 和 數 智 科 技 控 股 有 限 公 司 董 事（「董 事」）會（「董事會」）成 員 載 列 如 下： 執行董事 薛守光先生 （董事會主席兼行政總裁） 趙藝晴女士 孫得鑫先生 非執行董事 吳輔世博士 吳曉華先生 費翔先生 獨立非執行董事 田宇博士 魏俊恒先生 董事會設有三個委員會。下表載列董事委員會的成員： | 董 事 | 董事委員會 | | | | --- | --- | --- | --- | | | 審核委員會 提名委員會 | | 薪酬委員會 | | 薛守光先生 | – | C | – | | 費翔先生 | – | – | M | | 田宇博士 | M | M | M | | 魏俊恒先生 | M | M | C | 附註： C 有關董事委員會主席 M 有關董事委員會成員 香港，二零二五年三月四日 ...

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。 Ruihe Data Technology Holdings Limited 瑞和數智科技控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：3680） (1)董事辭職； (2)董事調任； (3)董事委任； (4)董事委員會組成變動；及 (5)未遵守上市規則 董事會謹此宣佈以下董事會變動，自二零二五年三月四日起生效： – 1 – 1. 陳楨平先生已辭任非執行董事； 2. 楊海峰先生已辭任獨立非執行董事、審核委員會及薪酬委員會各自之主 席及提名委員會成員； 3. 金涌博士已辭任獨立非執行董事及審核委員會及提名委員會各自之成員； 4. 費翔先生已由執行董事調任為非執行董事； 5. 孫得鑫先生已獲委任為執行董事； (1) 董事辭任 瑞 和 數 智 科 技 控 股 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，於 二 零 二 ...

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。 Ruihe Data Technology Holdings Limited 瑞和數智科技控股有限公司 更改香港主要營業地點的地址 瑞 和 數 智 科 技 控 股 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈，由 二 零 二 五 年 一 月 十 日 起，本 公 司 於 香 港 的 主 要 營 業 地 點 的 地 址 將 更 改 為 香 港 銅 鑼 灣 希 慎 道33號利園一期19樓1928室。 承董事會命 瑞和數智科技控股有限公司 董事會主席 （於開曼群島註冊成立之有限公司） （股份代號：3680） 香港，二零二五年一月九日 於本公告日期，董事會包括三名執行董事：薛守光先生、趙藝晴女士及費翔先生； 三名非執行董事：吳輔世博士、吳曉華先生及陳楨平先生；及三名獨立非執行董 事：楊海峰先生、金涌博士及田宇博士。 薛守光 ...

Corporate Information [Corporate Profile](index=2&type=section&id=%E5%85%AC%E5%8F%B8%E8%B3%87%E6%96%99) The company provides essential corporate details, including its board, committees, and key advisors - The company's name was changed from "Sumpo Food Holdings Limited" to "Ruihe Data & Intelligence Technology Holdings Limited"[1](index=1&type=chunk) - The roles of Chairman and CEO are held by the same individual, Mr. Xue Shouguang[3](index=3&type=chunk)[4](index=4&type=chunk) Financial Highlights [Financial Performance Summary](index=5&type=section&id=%E8%B2%A1%E5%8B%99%E6%A6%82%E8%A6%81) Revenue grew significantly while net loss narrowed due to new business lines and effective cost controls Key Financial Metrics for H1 2024 | Metric | H1 2024 (RMB) | H1 2023 (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 181 million | 121 million | +49.4% | | **Gross Profit** | 14.58 million | 25.30 million | -42.4% | | **Net Loss** | 38.64 million | 63.18 million | -38.8% (Loss Narrowed) | | **Basic Loss Per Share** | 5.48 cents | 12.40 cents | -55.8% (Loss Narrowed) | - Revenue growth was primarily driven by a **115.7% increase** in sales of software, hardware, and related integrated services and the new commodity trading business, which contributed approximately **RMB 61.72 million** in revenue[10](index=10&type=chunk) - The narrowed net loss was mainly due to reduced impairment provisions for financial and contract assets, lower selling and R&D expenses, and no impairment loss on intangible assets[10](index=10&type=chunk)[11](index=11&type=chunk) Management Discussion and Analysis [Business Review](index=6&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7) The Group is transitioning into a digital intelligence service provider by expanding into new data-related sectors [Industry Background Analysis](index=6&type=section&id=%E8%A1%8C%E6%A5%AD%E8%83%8C%E6%99%AF%E5%88%86%E6%9E%90) National policies supporting the digital economy and AI are creating significant market opportunities for the Group - National policies, such as the "Data Elements ×" Three-Year Action Plan, provide strong support for industry development, heralding the era of data element industrialization[13](index=13&type=chunk)[14](index=14&type=chunk) Relevant Market Size Forecasts | Market | Forecasting Body | Forecast Size | | :--- | :--- | :--- | | **China's Digital Economy Market** | China Research and Intelligence Co., Ltd. | Expected to reach RMB 70.8 trillion by 2025 | | **China's Data Element Market** | China Center for Information Industry Development | Expected to approach RMB 200 billion by 2025 | | **China's Banking IT Solutions Market** | IDC & CCID Consulting | Will reach RMB 139.011 billion by 2026 | [H1 2024 Performance Review](index=7&type=section&id=%E4%BA%8C%E9%9B%B6%E4%BA%8C%E5%9B%9B%E5%B9%B4%E4%B8%8A%E5%8D%8A%E5%B9%B4%E6%A5%AD%E7%B8%BE%E5%9B%9E%E9%A0%AD) The Group solidified its core business while expanding into new data asset applications through key partnerships - To consolidate existing business, the Group continued its deep cooperation with a large state-owned bank's head office and successfully renewed contracts and won bids with other city and rural commercial banks[20](index=20&type=chunk) - To expand into new sectors, the Group co-invested **RMB 100 million** to establish a partnership for data asset innovation and signed a strategic cooperation with the Quanzhou Licheng District government[20](index=20&type=chunk) - As of June 30, 2024, the Group had applied for **244 national intellectual property certificates**, including 47 invention patents and 140 software copyrights[21](index=21&type=chunk) - The Group actively built an ecosystem by releasing joint solutions with tech companies like Alibaba Cloud and Huawei and co-authoring a white paper on regional bank data capabilities[22](index=22&type=chunk) [Future Outlook](index=10&type=section&id=%E6%9C%AA%E4%BE%86%E5%B1%95%E6%9C%9B) The Group will focus on AI, data asset accounting, and domestic IT substitution to become a leading service provider - Product Innovation: Focusing on R&D for AI big data, AI, and large model products to continuously upgrade core offerings[28](index=28&type=chunk) - Sector Expansion: Seizing market opportunities in data element innovation, data asset accounting, and domestic IT substitution to provide integrated hardware and software solutions[28](index=28&type=chunk) - Customer Service: Establishing cross-departmental resource coordination mechanisms and strengthening cooperation with government, enterprises, and universities[29](index=29&type=chunk) - Ecosystem Cooperation: Deepening strategic partnerships with internet giants like Huawei Cloud, Alibaba Cloud, and Baidu Cloud, and enhancing collaboration with industry partners[29](index=29&type=chunk) [Financial Review](index=12&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) Revenue grew while gross margin declined due to business mix changes, but net loss narrowed from cost controls [Revenue Analysis](index=12&type=section&id=%E6%94%B6%E7%9B%8A) Total revenue growth was driven by new business segments, offsetting declines in traditional data solutions Revenue Breakdown (RMB '000) | Business Segment | H1 2024 | H1 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Data Solutions | 68,491 | 88,885 | -22.9% | | Sales of Software, Hardware & Related Integrated Services | 46,968 | 21,771 | +115.7% | | IT Maintenance & Support Services | 3,832 | 10,470 | -63.4% | | Commodity Trading | 61,720 | 0 | N/A | | **Total** | **181,011** | **121,126** | **+49.4%** | [Gross Profit and Gross Margin Analysis](index=13&type=section&id=%E6%AF%9B%E5%88%A9%E5%8F%8A%E6%AF%9B%E5%88%A9%E7%8E%87) Gross profit and margin declined significantly due to a revenue mix shift toward lower-margin businesses - Gross profit was approximately **RMB 14.58 million**, a decrease of RMB 10.73 million (**-42.4%**) year-over-year[33](index=33&type=chunk) - Gross profit margin was approximately **8.1%**, compared to 20.9% in the same period last year[33](index=33&type=chunk) [Expense Analysis](index=13&type=section&id=%E9%96%8B%E6%94%AF%E5%88%86%E6%9E%90) The Group effectively controlled operating expenses, with significant reductions in selling and R&D costs Key Expense Changes (RMB '000) | Item | H1 2024 | H1 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Selling Expenses | 5,528 | 11,333 | -51.2% | | R&D Expenses | 19,449 | 22,934 | -15.2% | | Administrative Expenses | 24,053 | 23,678 | +1.6% | [Loss for the Period Analysis](index=14&type=section&id=%E6%9C%9F%E5%85%A7%E8%99%A7%E6%90%8D) Net loss narrowed significantly due to lower impairment provisions and reduced operating expenses - Impairment provisions for financial and contract assets decreased by approximately **RMB 8.52 million** year-over-year[38](index=38&type=chunk) - Selling expenses decreased by approximately **RMB 5.81 million** year-over-year[38](index=38&type=chunk) - R&D expenses decreased by approximately **RMB 3.49 million** year-over-year[38](index=38&type=chunk) - No impairment loss on intangible assets was recorded in the period, compared to an impairment loss of approximately **RMB 12 million** in the prior-year period[38](index=38&type=chunk) [Liquidity and Cash Flow Analysis](index=15&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E5%8F%8A%E8%B2%A1%E6%94%BF%E4%BE%86%E6%BA%90) Operating cash outflow narrowed, while financing cash flow turned negative due to the absence of share issuance proceeds Cash Flow Statement Summary (RMB '000) | Activity | H1 2024 | H1 2023 | | :--- | :--- | :--- | | Net Cash from Operating Activities | (32,104) | (51,588) | | Net Cash from Investing Activities | (5,308) | (698) | | Net Cash from Financing Activities | (7,228) | 106,448 | [Capital Structure and Gearing](index=15&type=section&id=%E8%B3%87%E6%9C%AC%E7%B5%90%E6%A7%8B) The gearing ratio rose to 216.4% as total borrowings remained high while total equity decreased - As of June 30, 2024, borrowings included **RMB 66.74 million** in short-term bank loans, **RMB 95 million** in other borrowings, and **RMB 10 million** in long-term bank loans[47](index=47&type=chunk) - The gearing ratio increased to **216.4%** (end-2023: 150.2%), primarily due to a decrease in total equity of approximately **RMB 36.83 million** during the period[53](index=53&type=chunk) - Bank borrowings are secured by pledged bank deposits, certain trade receivables, assets owned by a director, and personal guarantees[54](index=54&type=chunk) Corporate Governance and Other Information [Directors', Chief Executive's and Substantial Shareholders' Interests](index=18&type=section&id=%E8%91%A3%E4%BA%8B%E3%80%81%E6%9C%80%E9%AB%98%E8%A1%8C%E6%94%BF%E4%BA%BA%E5%93%A1%E5%8F%8A%E4%B8%BB%E8%A6%81%E8%82%A1%E6%9D%B1%E6%8C%81%E8%82%A1) This section details the shareholdings of directors and substantial shareholders as of June 30, 2024 Interests of Directors and Chief Executive (Long Positions) | Name | Capacity/Nature of Interest | Number of Shares | Approx. Shareholding (%) | | :--- | :--- | :--- | :--- | | Mr. Xue Shouguang | Interest in a controlled corporation | 104,000,000 | 15.74 | | Mr. Chen Zhenping | Beneficial interest | 60,980,000 | 9.23 | | Mr. Wu Xiaohua | Interest in a controlled corporation | 29,490,000 | 4.46 | | Ms. Zhao Yiqing | Beneficial interest | 23,740,000 | 3.59 | | Dr. Wu Fushi | Beneficial interest | 11,450,000 | 1.73 | - Substantial shareholders (non-directors) include Treasure Tree Asia Holdings Co. LTD (15.74%), Mr. Wang Donglin (through a controlled corporation, 10.59%), and Beijing Financial Street Capital Operation Group Co., Ltd. (as a security interest holder, 10.00%)[64](index=64&type=chunk) [Remuneration Policy and Equity Incentive Plans](index=20&type=section&id=%E8%96%AA%E9%85%AC%E6%94%BF%E7%AD%96%E5%8F%8A%E8%82%A1%E6%AC%8A%E6%BF%80%E5%8B%B5%E8%A8%88%E5%8A%83) The Group maintains competitive remuneration policies and equity incentive plans to retain its 398 employees - As of June 30, 2024, the Group had a total of **398 employees** in Mainland China and Hong Kong[70](index=70&type=chunk) - The Company adopted a Share Option Scheme and a Share Award Scheme on June 8, 2020[71](index=71&type=chunk) - During the period, **432,464** restricted shares vested and **110,747** shares lapsed under the Share Award Scheme[80](index=80&type=chunk) [Use of Net Proceeds from Share Offer](index=25&type=section&id=%E8%82%A1%E4%BB%BD%E7%99%BC%E5%94%AE%E6%89%80%E5%BE%97%E6%AC%BE%E9%A0%85%E6%B7%A8%E9%A1%8D%E4%B9%8B%E7%94%A8%E9%80%94) The net proceeds of approximately HK$104 million from the 2019 listing have been fully utilized Allocation and Use of Net Proceeds (HKD Million) | Purpose | Allocated Amount | Utilized Amount | Unutilized Amount | | :--- | :--- | :--- | :--- | | Enhance data solution portfolio | 20.8 | 20.8 | 0 | | Enhance sales and marketing | 20.8 | 20.8 | 0 | | Develop financial AI lab and other facilities | 36.4 | 36.4 | 0 | | Potential strategic acquisitions | 6.6 | 6.6 | 0 | | Working capital and other | 19.4 | 19.4 | 0 | | **Total** | **104.0** | **104.0** | **0** | [Other Information](index=26&type=section&id=%E5%85%B6%E4%BB%96%E4%BF%A1%E6%81%AF) The company complied with governance codes, with no interim dividend declared and sufficient public float maintained - The Board does not recommend the payment of an interim dividend for 2024[87](index=87&type=chunk) - The roles of Chairman and CEO are both held by Mr. Xue Shouguang, a deviation from the Corporate Governance Code which the Board believes ensures consistent leadership[84](index=84&type=chunk) - During the period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[82](index=82&type=chunk) - The Audit Committee has reviewed the Group's unaudited interim condensed consolidated financial information[91](index=91&type=chunk) Interim Financial Statements [Interim Condensed Consolidated Statement of Comprehensive Income](index=28&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) The company reported a significantly narrowed net loss of RMB 38.64 million on revenue of RMB 181 million Summary of Consolidated Statement of Comprehensive Income (RMB '000) | Item | H1 2024 (Unaudited) | H1 2023 (Unaudited) | | :--- | :--- | :--- | | Revenue | 181,011 | 121,126 | | Gross Profit | 14,577 | 25,302 | | Operating Loss | (32,320) | (64,628) | | Loss before Income Tax | (39,108) | (64,628) | | **Loss for the Period** | **(38,635)** | **(63,176)** | | Loss attributable to Owners of the Company | (36,040) | (62,141) | [Interim Condensed Consolidated Statement of Financial Position](index=29&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) The company reported total assets of RMB 383 million and net current liabilities of RMB 36.40 million Summary of Consolidated Statement of Financial Position (RMB '000) | Item | Jun 30, 2024 (Unaudited) | Dec 31, 2023 (Audited) | | :--- | :--- | :--- | | **Total Assets** | **382,941** | **444,148** | | Non-current Assets | 130,665 | 141,519 | | Current Assets | 252,276 | 302,629 | | **Total Liabilities** | **302,460** | **326,841** | | Non-current Liabilities | 13,781 | 16,829 | | Current Liabilities | 288,679 | 310,012 | | **Total Equity** | **80,481** | **117,307** | | Net Current Liabilities | (36,403) | (7,383) | [Interim Condensed Consolidated Statement of Changes in Equity](index=31&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%AC%8A%E7%9B%8A%E8%AE%8A%E5%8B%95%E8%A1%A8) Total equity decreased to RMB 80.48 million, primarily due to a total comprehensive loss of RMB 37.01 million - Total equity at the beginning of the period was **RMB 117.3 million**[101](index=101&type=chunk) - Total comprehensive loss for the period was **RMB 37.01 million**, comprising a loss for the period of RMB 38.64 million and an exchange difference gain of RMB 1.62 million[101](index=101&type=chunk) - Total equity at the end of the period was **RMB 80.48 million**[101](index=101&type=chunk) [Interim Condensed Consolidated Statement of Cash Flows](index=32&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) Cash and cash equivalents decreased by RMB 44.64 million, resulting in a closing balance of RMB 70.23 million Summary of Consolidated Statement of Cash Flows (RMB '000) | Item | H1 2024 (Unaudited) | H1 2023 (Unaudited) | | :--- | :--- | :--- | | Net cash used in operating activities | (32,104) | (51,588) | | Net cash used in investing activities | (5,308) | (698) | | Net cash from/(used in) financing activities | (7,228) | 106,448 | | **Net (decrease)/increase in cash and cash equivalents** | **(44,640)** | **54,162** | | Cash and cash equivalents at beginning of period | 113,257 | 57,480 | | **Cash and cash equivalents at end of period** | **70,232** | **110,468** | Notes to the Interim Condensed Consolidated Financial Statements [Note 6: Revenue and Segment Information](index=37&type=section&id=6%20%E6%94%B6%E7%9B%8A%E5%8F%8A%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The Group operates two segments, with Integrated Data Technology Services contributing most of the revenue Segment Performance (H1 2024, RMB '000) | Segment | Revenue | (Loss)/Profit | | :--- | :--- | :--- | | Integrated Data Technology Services | 119,291 | (37,025) | | Commodity Trading | 61,720 | (64) | | **Total** | **181,011** | **(37,089)** | - By revenue recognition timing, **RMB 109 million** was recognized at a point in time, and **RMB 72.32 million** was recognized over time[123](index=123&type=chunk) [Note 13: Trade and Bills Receivables](index=44&type=section&id=13%20%E8%B2%A1%E6%98%93%E6%87%89%E6%94%B6%E6%AC%BE%E9%A0%85%E5%8F%8A%E6%87%89%E6%94%B6%E7%A5%A8%E6%93%9A) Net trade and bills receivables stood at RMB 91.14 million, with a significant portion aged over one year Aging Analysis of Trade and Bills Receivables (RMB '000) | Aging | Jun 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Up to 3 months | 65,198 | 95,467 | | 3 to 6 months | 1,464 | 2,082 | | 6 months to 1 year | 26,183 | 9,073 | | Over 1 year | 62,500 | 59,974 | | **Total** | **155,345** | **166,596** | - The Group uses a lifetime expected loss provision model for trade and bills receivables, assessed based on customer credit risk and forward-looking information[147](index=147&type=chunk) [Note 19: Bank and Other Borrowings](index=51&type=section&id=19%20%E9%8A%80%E8%A1%8C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%80%9F%E8%B2%B8) Total borrowings amounted to RMB 172 million, primarily secured by various corporate and personal assets Composition of Bank and Other Borrowings (RMB '000) | Item | Jun 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Non-current** | | | | Bank borrowings | 10,000 | 10,000 | | **Current** | | | | Bank borrowings | 66,744 | 64,728 | | Other borrowings | 95,000 | 101,464 | | **Total** | **171,744** | **176,192** | - The weighted average annual interest rate for bank borrowings was **4.3%**[159](index=159&type=chunk) - At the end of 2023, a convertible loan with a principal of **RMB 20 million** was reclassified to other borrowings after the investor decided not to exercise the conversion option and demanded repayment[162](index=162&type=chunk)

Financial Performance - The company's revenue for the six months ended June 30, 2024, was approximately RMB 181,011,000, representing an increase of about 49.4% or approximately RMB 59,885,000 compared to the same period in 2023[1]. - The gross profit for the reporting period was approximately RMB 14,577,000, a decrease of about 42.4% compared to RMB 25,302,000 in the first half of 2023[1][3]. - The net loss for the reporting period was approximately RMB 38,635,000, a reduction of 38.8% or about RMB 24,541,000 compared to RMB 63,176,000 in the same period last year[2][4]. - Basic and diluted loss per share decreased by 55.8% to RMB 5.48 from RMB 12.40 in the first half of 2023[2][4]. - Total revenue for the six months ended June 30, 2024, was RMB 181,011,000, an increase from RMB 121,126,000 in the same period of 2023, representing a growth of 49.4%[10]. - Revenue from integrated data technology services was RMB 119,291,000, slightly down from RMB 121,126,000 year-on-year, indicating a decrease of 1.5%[10]. - Revenue from commodity trading reached RMB 61,720,000, with no revenue reported in the previous year, marking a significant new revenue stream[10]. - The company reported a net loss of RMB 38,635,000 for the six months ended June 30, 2024, compared to a net loss of RMB 63,176,000 for the same period in 2023[12]. - The loss attributable to the company's owners for the reporting period was approximately RMB 36,040,000, down from RMB 62,141,000 in the first half of 2023[58]. - Basic and diluted loss per share for the six months ended June 30, 2024, was RMB 5.48, down from RMB 12.40 in the same period of 2023, indicating a 56% reduction in loss per share[18]. Expenses and Cost Management - The company reduced its sales expenses by approximately RMB 5,805,000 to RMB 5,528,000 during the reporting period[2]. - Research and development expenses decreased by approximately RMB 3,485,000 to RMB 19,449,000 as the company shifted focus to product promotion and application[2]. - Employee benefit expenses, including director remuneration, were RMB 56,944,000, down from RMB 100,663,000, a decrease of 43.4%[14]. - Sales expenses were approximately RMB 5,528,000, a decrease of about 51.2% or RMB 5,805,000 compared to the first half of 2023, representing about 3.1% of the company's revenue[53]. - Administrative expenses increased by approximately 1.6% or RMB 375,000 to RMB 24,053,000 compared to the first half of 2023[55]. Assets and Liabilities - The total assets as of June 30, 2024, were RMB 382,941,000, down from RMB 444,148,000 as of December 31, 2023[5]. - The total equity decreased to RMB 80,481,000 from RMB 117,307,000 as of December 31, 2023[5]. - The company reported a total liability of RMB 302,460,000 as of June 30, 2024, down from RMB 326,841,000 at the end of 2023, reflecting a reduction of 7.4%[6]. - Current liabilities decreased to RMB 288,679,000 from RMB 310,012,000, a decline of 6.9%[6]. - The net current liabilities position worsened to (RMB 36,403,000) compared to (RMB 7,383,000) in the previous period, indicating increased financial pressure[6]. - The company's asset-liability ratio increased to approximately 216.4% as of June 30, 2024, up from 150.2% on December 31, 2023[68]. Strategic Initiatives and Business Development - The company is focused on expanding its integrated data technology services and commodity trading as part of its growth strategy[10]. - The company has established strategic partnerships with major internet companies to enhance its digital finance and industry technology ecosystem[50]. - The company is actively exploring new business models and scenarios in the data intelligence field, aiming to transform into a comprehensive service provider[40]. - The company has successfully deepened cooperation with a major state-owned bank, expanding into multiple new business areas, showcasing its market influence in data governance and analytics[41]. - The company has signed strategic cooperation agreements with various partners, including a RMB 100 million investment to explore innovative applications of data assets[43]. Market and Economic Context - China's GDP grew by 5.0% year-on-year in the first half of 2024, with high-tech industry investment increasing by 10.6%[38]. - The government continues to promote policies for modern industrial system construction and the development of new production capacities, focusing on digital economy innovations[38]. - In 2024, China's digital economy market is projected to reach RMB 63.8 trillion, with expectations to grow to RMB 70.8 trillion by 2025, indicating significant growth potential[39]. - The compound annual growth rate (CAGR) of China's data factor market is expected to exceed 25% during the 14th Five-Year Plan period, with a total value projected to reach RMB 159.2 billion in 2024 and nearly RMB 200 billion by 2025[39]. Governance and Compliance - The company has adopted corporate governance principles and has complied with the relevant rules during the reporting period[79]. - The audit committee reviewed the unaudited interim consolidated financial information and confirmed it was prepared in accordance with applicable accounting standards[84]. - The board of directors includes three executive directors and three non-executive directors, along with three independent non-executive directors[86]. - The company emphasizes its focus on shareholder communication and engagement[86]. - The announcement reflects the company's adherence to regulatory requirements for financial disclosures[86].

Stock Options and Share Awards - The company has not granted any new stock options during the reporting period[5]. - The stock option exercise price is determined based on the highest of three values, with the share price on the grant date being HKD 6.33[8]. - The maximum number of restricted shares that can be awarded under the share award plan is capped at 5% of the total issued shares as of June 8, 2020, which amounts to 20,000,000 shares[11]. - The remaining duration of the share award plan as of December 31, 2023, is approximately six years and five months[14]. - The stock options granted to employees are subject to performance conditions, including financial performance targets and individual key performance indicators[6]. - The company aims to retain existing employees and recruit additional staff through the stock option and share award plans[3]. Employee Recruitment and Retention - The company has not experienced any significant issues with employee recruitment or retention during the reporting period[2]. - The company has not encountered any labor disputes that would disrupt operations during the reporting period[2]. Revenue and Customer Concentration - The company generated revenue from its top five customers, accounting for 43.8% of total revenue, with the largest customer contributing 12.1%[28]. Shareholder and Ownership Structure - The company holds 104,000,000 shares, representing approximately 15.74% of total shares, owned by Treasure Tree Asia Holdings Co. LTD[24]. - The company’s major shareholders include individuals and entities with significant stakes, such as 10.59% held by Wang Donglin and related entities[24]. Financial Performance and Proceeds - The net proceeds from the share issuance in December 2019 amounted to approximately HKD 104.0 million after deducting listing expenses[29]. - The company plans to extend the timeline for utilizing the remaining net proceeds of approximately HKD 3.5 million for the development of a financial AI laboratory and office facilities until March 31, 2024[30]. Corporate Governance - The company’s board of directors has been restructured to comply with listing rules, ensuring at least three independent non-executive directors are present[37]. - The company has adopted corporate governance standards to maintain shareholder interests and enhance corporate value[65]. - The board believes that good corporate governance standards are crucial for maintaining transparency and accountability[65]. - The company has adopted the standard code of conduct for securities trading as per the listing rules[38]. - The board consists of 11% female members and 89% male members as of the report date, with a target of 22% female representation by December 31, 2023[121]. Audit and Compliance - The company’s audit committee has reviewed the annual performance and financial statements, confirming compliance with applicable accounting standards[32]. - The audit committee currently consists of three independent non-executive directors, with Mr. Yang Haifeng serving as the chairman[53]. - The audit committee held three meetings during the reporting period to review financial performance and compliance matters[80]. - The company incurred audit service fees of HKD 1,880,000 and non-audit service fees of HKD 250,000, totaling HKD 2,130,000[128]. - The company has a robust internal audit function that evaluates the effectiveness of risk management and internal control systems at least annually[124]. - The board reviewed the effectiveness of the internal control and risk management systems, confirming their adequacy throughout the reporting period[125]. ESG Strategies and Reporting - The board is responsible for the overall governance of the company's ESG strategies and risk management, regularly reviewing performance and objectives[141]. - The ESG report details the company's efforts and achievements in sustainable development and social responsibility, highlighting its commitment to environmental and social policies[168]. - The company reported direct emissions of 19.3 tons from vehicle fuel consumption for the year ending December 31, 2023[191]. - Indirect emissions included 0.9 tons from paper usage and 55.8 tons from business travel by air[192]. - The company aims to integrate ESG factors into decision-making processes and daily operations[169]. - The ESG working group meets regularly to discuss and review ESG-related issues, including policies and performance[170]. Communication and Stakeholder Engagement - The company has established a shareholder communication policy to ensure effective engagement with stakeholders and to address their concerns appropriately[139]. - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of business performance and strategies[165]. Board Diversity and Composition - The company has adopted a board diversity policy aimed at achieving a balance in skills, experience, and perspectives among board members[91]. - The nomination committee reviews the board diversity policy to ensure its effectiveness[95]. - The company has established measurable goals to implement its board diversity policy and will review these goals periodically[120]. - The company has a total workforce of 140 females and 368 males, resulting in a gender distribution of 28% female and 72% male[121]. Significant Events and Changes - The board of directors has undergone significant changes, with new appointments including Mr. Xue Shouguang as Chairman and CEO, and Ms. Zhao Yiqing as a director, both appointed on July 18, 2023[133]. - The company held two shareholder meetings during the reporting period, including the annual general meeting on May 25, 2023, and a special meeting on October 24, 2023[159]. - There were no significant events affecting the group after December 31, 2023, and up to the date of this report[60].

Financial Performance - The company's revenue for the year ended December 31, 2023, was approximately RMB 367,945,000, a decrease of about 2.4% or RMB 9,181,000 compared to 2022[3]. - The gross profit for the reporting period was approximately RMB 47,127,000, a decrease of about 47.2% compared to 2022, with a gross margin of approximately 12.8%, down 10.9% from 23.7% in 2022[4]. - The net loss for the reporting period was approximately RMB 109,009,000, a reduction of about 12.1% compared to a net loss of RMB 124,022,000 in 2022[4]. - Basic and diluted loss per share for the reporting period was approximately RMB 0.188, compared to RMB 0.309 in 2022, representing a 39% reduction in loss per share[11]. - The company reported a total revenue of RMB 367,945,000 for the year ended December 31, 2023, a decrease of approximately 2.4% or RMB 9,181,000 compared to 2022[151]. - The net loss for the year was RMB 109,009 million, compared to a loss of RMB 124,022 million in 2022[66]. Revenue Breakdown - The integrated service revenue from hardware and software sales increased by approximately 85.7% or RMB 66,739,000 during the reporting period[3]. - Data solutions revenue decreased by approximately 37.6% or RMB 100,574,000, while IT maintenance and support service revenue fell by approximately 46.2% or RMB 14,598,000[4]. - Revenue from integrated software and hardware sales and related services increased by approximately 85.7% or RMB 66,739,000 during the reporting period[153]. - Revenue from data solutions decreased by approximately 37.6% or RMB 100,574,000 due to tightening IT and marketing budgets among large financial institutions[153]. Operational Efficiency and Cost Management - The company has implemented a management restructuring and adopted an Amiba business management model, resulting in significant operational cost reductions[11]. - Human resources costs averaged approximately RMB 16.88 million per month from January to September 2023, decreasing to approximately RMB 12 million per month from October to December, a reduction of 29% year-on-year[11]. - The company aims to enhance operational efficiency through continuous cost reduction and efficiency improvement strategies[14]. - Administrative expenses were approximately RMB 55,597,000, a decrease of about RMB 44,009,000, primarily due to reduced share-based payment expenses and optimized management team costs[158]. Strategic Initiatives and Future Outlook - The company plans to leverage its advantages in big data and AI technology to explore new business models and enhance data asset applications in various industries[6]. - The company aims to strengthen its core competitive advantages through deep collaboration with ecosystem partners and enhance its data technology capabilities[6]. - The company plans to expand into overseas markets, particularly in Southeast Asia, to seek new growth opportunities[59]. - The outlook for 2024 indicates strong demand for digital transformation and innovation in the context of national policies supporting technology and data asset management[52]. Market Position and Recognition - The group has been recognized as a "Little Giant" enterprise with national-level specialized qualifications and ranked first in the banking industry's smart marketing solutions market by IDC[13]. - The company holds the number one market share in the "Intelligent Marketing Solutions Market" according to IDC's report on the Chinese banking IT solutions market[27]. - The company has achieved CMMI Level 5 certification, indicating its software development processes meet the highest global standards[34]. Research and Development - The company continues to enhance its core products, including intelligent marketing and big data applications, to meet customer needs and improve user experience[34]. - The company will continue to invest in R&D for data analysis and intelligent marketing solutions to enhance its competitive edge[60]. Financial Position and Assets - The total equity increased to RMB 117.307 million in 2023 from RMB 103.513 million in 2022[73]. - The company's total assets increased to RMB 444,148,000 in 2023 from RMB 410,883,000 in 2022, representing a growth of approximately 8.1%[74]. - Current assets rose significantly to RMB 302,629,000 in 2023, compared to RMB 236,420,000 in 2022, marking an increase of about 27.9%[74]. - The total liabilities increased to RMB 326,841,000 in 2023 from RMB 307,370,000 in 2022, reflecting a rise of approximately 6.4%[80]. Credit and Receivables Management - The company has identified a credit risk provision of RMB 32,095,000 for contract assets, compared to RMB 18,932,000 in 2022, reflecting an increase of approximately 69.5%[89]. - The expected credit loss provision for trade receivables and notes receivable increased to RMB 62,311 thousand as of December 31, 2023, compared to RMB 47,660 thousand in 2022, reflecting a rise of 30.7%[99]. - The total trade receivables and notes receivable as of December 31, 2023, amounted to RMB 166,596 thousand, an increase from RMB 129,982 thousand in 2022, representing a growth of approximately 28.1%[98]. Corporate Governance and Compliance - The company has adopted the corporate governance code as a basis for its governance practices and has complied with the relevant rules during the reporting period[191]. - The audit committee, consisting of independent non-executive directors, has reviewed the group's annual performance and audited consolidated financial statements[200]. - The audit committee confirmed that the consolidated financial statements fairly present the group's financial position and performance during the reporting period[200].

Financial Performance - The company's revenue for the six months ended June 30, 2023, was approximately RMB 121.13 million, a decrease of about 29.7% or RMB 51.11 million compared to the same period in 2022[75]. - Gross profit for the same period was approximately RMB 25.30 million, down about 41.7% due to reduced market orders and intensified competition[75]. - The net loss for the period was approximately RMB 63.18 million, an increase of about 68.5% compared to the previous year, primarily due to tightened IT budgets and increased competition[75]. - Basic and diluted loss per share for the period was approximately RMB 12.40, compared to RMB 9.12 and RMB 9.14 for the same period in 2022[76]. - Total revenue for the period was approximately RMB 121,126,000, a decrease of about 29.7% or RMB 51,112,000 compared to the first half of 2022[153]. - Revenue from data solution services was approximately RMB 88,885,000, accounting for about 73.3% of total revenue, down approximately 32.2% or RMB 42,251,000 from the previous year[153]. - The company's gross profit margin declined due to reduced market orders and increased competition, leading to a gross profit decrease of approximately RMB 18,130,000 compared to the first half of 2022[154][158]. Cash Flow and Financing - Cash outflow from operating activities was approximately RMB 51,588,000, a decrease of about RMB 27,144,000 compared to the first half of 2022[159]. - Cash inflow from financing activities was approximately RMB 106,448,000, slightly down from RMB 110,410,000 in the previous year[160]. - The company has entered into a loan agreement with an independent third party for a principal amount of RMB 20,000,000 at an annual interest rate of 6%, to be repaid by the end of September 2023[30]. - The company is exploring multiple financing channels to optimize its shareholder structure and ensure a smooth cash flow[134]. - As of June 30, 2023, the company's debt-to-equity ratio was approximately 82.7%, down from 143.6% as of December 31, 2022, primarily due to a reduction in bank and other borrowings by approximately RMB 13,342,000 and an increase in total equity by approximately RMB 60,147,000[183]. Share Capital and Equity - The company issued 193,800,000 new shares on January 15, 2023, raising approximately RMB 30,384,000, and an additional 143,000,000 shares on June 29, 2023, raising approximately RMB 100,779,000[12]. - The company’s issued and fully paid ordinary shares increased to 660,868,036 as of June 30, 2023, from 467,068,036 as of January 1, 2023, marking an increase of approximately 41.4%[11]. - The company authorized a total of 38,143,167 share options under its share option and incentive plans as of June 30, 2023[179]. - The potential number of shares to be issued under the share option plan for the six months ended June 30, 2023, was 0.1% of the weighted average number of shares issued during that period[180]. - The company aims to retain existing employees and attract new talent through its share option and incentive plans, which were adopted at the annual general meeting on June 8, 2020[178]. Assets and Liabilities - As of June 30, 2023, trade receivables amounted to RMB 50,135,000, an increase from RMB 36,323,000 as of December 31, 2022, representing a growth of approximately 38.1%[3]. - Trade payables decreased to RMB 38,722,000 as of June 30, 2023, from RMB 74,320,000 as of December 31, 2022, reflecting a reduction of approximately 47.9%[14]. - The company’s total liabilities related to accrued expenses and other payables decreased to RMB 39,480,000 as of June 30, 2023, from RMB 70,360,000 as of December 31, 2022, a decline of approximately 43.9%[15]. - The company’s other receivables rose to RMB 4,518,000 as of June 30, 2023, compared to RMB 1,728,000 as of December 31, 2022, representing an increase of approximately 161.5%[9]. - The company had short-term bank borrowings of approximately RMB 59,214,000 and other short-term borrowings of RMB 25,297,000 as of June 30, 2023[144]. Research and Development - Research and development expenses increased by approximately 4.4% to RMB 22,934,000, representing about 18.9% of total revenue, compared to 12.8% in the previous year[156]. - The company aims to leverage AI big data technology to expand its product offerings and solutions, aiming to capture opportunities in domestic substitution and digital transformation[118]. - The company is focused on expanding its market presence and enhancing collaboration with clients, leading to steady business growth in the first half of 2023[42]. - The company aims to strengthen its core competitiveness in AI big data product development, increasing investment in R&D and enhancing the application of AI large model technology[45]. Market Position and Strategy - The company is positioned as the "first financial AI stock in the Hong Kong market," focusing on providing domestic alternatives in big data, AI, and digital marketing solutions[84]. - The company has established a deep collaboration with Huawei to launch an intelligent marketing label platform solution, enhancing its capabilities in the financial technology sector[49]. - The company has become one of the first ecosystem partners of Baidu's "Wenxin Yiyan," integrating advanced AI dialogue technology into its financial technology applications[49]. - The company anticipates significant market opportunities in the "Xin Chuang" (information technology application innovation) sector, with projections indicating the market could exceed RMB 2 trillion by 2025[84]. - The company is adapting its business strategy in response to global economic trends and competitive pressures, including asset impairments totaling approximately RMB 17.80 million[75]. Employee and Talent Management - The company had a total of 688 employees in mainland China and Hong Kong as of June 30, 2023, providing competitive compensation and training programs[176]. - The company aims to optimize its talent structure by attracting high-end professionals and enhancing the training of technical personnel[134]. - The company has a strong talent pool and solid customer base, which has fostered continuous trust and business cooperation from clients[89]. - The company has not experienced any significant labor disputes or operational disruptions during the reporting period, indicating stable employee relations[195]. Innovation and Technology - The company has accumulated 35 national invention patents and 145 software copyright certificates as of June 30, 2023, indicating strong innovation capabilities[103]. - The company has established a comprehensive technology and service system from data platform to data operation, enhancing its solution service capabilities[92]. - The company focuses on AI big data and digital transformation, leveraging its technical advantages in customer analysis and smart marketing[91]. - The company has launched high-quality products and solutions to support the development of the digital economy and the Xinchuang industry[89]. - The company has partnered with major cloud service providers like Huawei Cloud and Alibaba Cloud to provide digital transformation solutions across various industries[100].