（股份代號：3680） 執行董事辭任及執行董事委任 執行董事辭任 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 五 年 四 月 一 日 起，趙 藝 晴 女 士（「趙女士」） 已辭任執行董事，以投入更多時間處理其他個人事務。 趙 女 士 已 確 認，她 與 董 事 會 並 無 意 見 分 歧，亦 無 任 何 有 關 其 辭 任 之 事 宜 須 敦 請 本 公 司 股 東（「股 東」）及 香 港 聯 合 交 易 所 有 限 公 司 垂 注。 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） – 1 – 薛 先 生 在 生 物 醫 學，集 成 電 路 和 新 能 源 行 業 的 投 資 方 面 擁 ...

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately RMB 377,843,000, an increase of about 2.7% or RMB 9,898,000 compared to the previous year[4] - The gross profit for the reporting period was approximately RMB 38,075,000, a decrease of about 19.2%, with a gross margin of 10.1%, down 2.7 percentage points from the previous year[5] - The net loss for the period was approximately RMB 74,044,000, a reduction of about 32.1% compared to a net loss of RMB 109,009,000 in the previous year[5] - Total revenue for the year ended December 31, 2024, was RMB 377.843 million, a slight increase from RMB 367.945 million in 2023[26] - Gross profit decreased to RMB 38.075 million in 2024 from RMB 47.127 million in 2023, indicating a decline in profitability[26] - Operating loss improved to RMB 65.064 million in 2024 from RMB 103.685 million in 2023, reflecting better cost management[26] - The net loss for the year was RMB 74.044 million, compared to RMB 109.009 million in the previous year, showing a reduction in losses[26] - Basic loss per share improved to RMB 11.4 in 2024 from RMB 18.8 in 2023, indicating a positive trend in financial performance[27] Revenue Breakdown - The data solutions business's contribution to total revenue decreased from 45.4% to 39.2%, with a revenue decline of approximately 11.4% or RMB 19,019,000[4] - The commodity trading business's revenue increased by approximately 218.1% or RMB 85,589,000, raising its share of total revenue from 10.7% to 33.0%[4] - Revenue from data solutions decreased to RMB 147,996,000 in 2024 from RMB 167,015,000 in 2023, representing a decline of approximately 11.5%[41] - Revenue from integrated sales of hardware and software services dropped significantly to RMB 99,057,000 in 2024 from RMB 144,653,000 in 2023, a decrease of about 31.5%[41] - The company generated RMB 124,841,000 in revenue from commodity trading in 2024, a significant increase from RMB 39,252,000 in 2023, marking a growth of over 218%[41] Cost Management - The company reduced its selling expenses by approximately RMB 11,197,000 to about RMB 8,387,000, a decrease of about 57.2% compared to the previous year[5] - Employee benefit expenses, including directors' remuneration, significantly decreased to RMB 93,403 thousand in 2024 from RMB 166,220 thousand in 2023, a decline of about 44%[44] - Total depreciation and amortization expenses decreased to RMB 29,031 thousand in 2024 from RMB 33,181 thousand in 2023, a reduction of approximately 13%[44] - R&D expenses were approximately RMB 31,073,000, a decrease of about 6.5% or approximately RMB 2,165,000 compared to 2023, representing about 8.2% of revenue[77] - Administrative expenses were approximately RMB 53,553,000, a decrease of about 3.7% or approximately RMB 2,044,000 compared to 2023[78] Assets and Liabilities - Total assets decreased to RMB 298,852,000 in 2024 from RMB 444,148,000 in 2023, representing a decline of 32.7%[29] - Current liabilities increased to RMB 243,803,000 in 2024 from RMB 310,012,000 in 2023, indicating a reduction of 21.3%[29] - Cash and cash equivalents significantly dropped to RMB 16,399,000 in 2024 from RMB 113,257,000 in 2023, a decrease of 85.5%[29] - The company's total equity decreased to RMB 42,881,000 in 2024 from RMB 117,307,000 in 2023, a decline of 63.4%[29] - Non-current assets totaled RMB 105,900,000 in 2024, down from RMB 141,519,000 in 2023, a decrease of 25.2%[28] Credit and Financing - The expected credit loss on financial and contract assets decreased by approximately RMB 24,600,000 to about RMB 2,669,000, a reduction of about 90.2%[5] - The company has a net current liability of approximately RMB 50,851,000 as of December 31, 2024[29] - The company is negotiating with counterparties to renew existing loans as part of its financial strategy[37] - The company had total bank financing of RMB 29,500,000 as of December 31, 2024, down from RMB 100,000,000 in 2023[66] - The company reported unused bank financing of approximately RMB 0 as of December 31, 2024, compared to approximately RMB 125,272,000 in 2023[66] Strategic Initiatives - The company is focusing on the development of artificial intelligence technologies, particularly in financial services and investment analysis, as part of its strategic initiatives[12] - The group has established a data industry fund with a total investment of RMB 100 million, focusing on high-margin and high-tech projects[17] - The group actively collaborates with strategic ecosystem partners, launching 17 joint solutions with Alibaba Cloud and participating in discussions on data and AI technologies with over 30 regional banks[19] - The group is enhancing its flagship product, the intelligent marketing platform, by optimizing features such as marketing automation and content management to increase competitiveness[20] - The company plans to explore new revenue streams through business integration and acquisitions in areas like AI big data and digital assets[24] Market Outlook - The company anticipates that China's GDP will grow by approximately 5.2% in 2024, with the digital economy expected to exceed RMB 70 trillion, accounting for over 50% of GDP[7][9] - The national investment in new infrastructure is projected to exceed RMB 500 billion, driven by the development of data centers and 5G networks[9] - In 2024, the Chinese fintech market is projected to reach approximately RMB 2.6 trillion, achieving a growth rate of 18%[13] - The Chinese fintech market is projected to reach RMB 3.1–3.3 trillion by 2025, representing an 18% growth from 2024, driven by segments like banking wealth management and cross-border payments[21] Governance and Compliance - The company has adopted the Corporate Governance Code as a basis for its governance practices and has complied with its principles during the reporting period[103] - The company has fully complied with the listing rules regarding the number and qualifications of independent non-executive directors after recent appointments[105] - The company confirmed that all directors complied with the standards of conduct regarding securities trading during the reporting period[106] - The audit committee has reviewed the group's annual performance and confirmed that the financial statements fairly present the group's financial position[109] Shareholder Information - The company did not declare or pay dividends for the year ended December 31, 2024, consistent with 2023[72] - The company raised HKD 104.0 million from the share sale, net of listing expenses, by selling 100,000,000 shares at HKD 1.50 each[111] - 20% of the net proceeds, amounting to HKD 20.8 million, is allocated to enhance and expand the group's data solutions[112] - 35% of the net proceeds, amounting to HKD 36.4 million, was initially intended for the development of a financial AI laboratory and related facilities in Shenzhen[112] - The company plans to extend the timeline for utilizing the remaining net proceeds for the financial AI laboratory development to March 31, 2024[112]

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） 獨立非執行董事 田宇博士 魏俊恒先生 褚繼君女士 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 | C | M | M | | 魏俊恒先生 | M | M | C | | 褚繼君女士 | M | M | – | （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 附註： C 有關董事委員會主席 M 有關董事委員會成員 香港，二零二五年三月十六日 ...

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)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].