Financial Performance - The company reported a net loss of approximately RMB 26,523,000 for the year ended December 31, 2023, compared to a loss of RMB 4,875,000 in the previous year[30]. - The group reported a loss attributable to owners of the company of approximately RMB 26.5 million for the year ended December 31, 2023, compared to a loss of about RMB 4.9 million for the previous year[51]. - The net loss from continuing operations for the year was RMB 26.5 million, compared to a profit of RMB 4.9 million in the previous year[113]. - The basic loss per share for the year ended December 31, 2023, was approximately RMB 2.12, compared to RMB 0.39 for the year ended December 31, 2022, indicating an increase in net loss[79]. - The group's gross profit decreased from approximately RMB 58.1 million for the year ended December 31, 2022, to approximately RMB 11.3 million for the year ended December 31, 2023, with a gross profit margin dropping from about 4.4% to 1.0%[61]. - The company's revenue for the year ended December 31, 2023, was approximately RMB 1.107 billion, a decrease of about RMB 301.1 million or 22.8% compared to the previous year[98]. Revenue and Sales - Revenue from external customers for the yarn segment was RMB 1,107,045,000, a decrease of 15.9% from RMB 1,318,133,000 in the previous year[17]. - The group's yarn product sales decreased by approximately 6.9% from about 103,479 tons for the year ended December 31, 2022, to about 96,330 tons for the year ended December 31, 2023[31]. - Revenue from yarn products fell by 16.0% from approximately RMB 1.318 billion for the year ended December 31, 2022, to about RMB 1.107 billion for the year ended December 31, 2023[31]. - The overall average selling price of yarn products decreased by 17.1% from approximately RMB 12,738 per ton to about RMB 10,558 per ton[33]. - The revenue from polyester yarn was RMB 434,619,000, accounting for 39.3% of total revenue, while the revenue from polyester-cotton blended yarn and viscose-cotton blended yarn was RMB 349,725,000, accounting for 31.6%[194]. Cash Flow and Liquidity - The company’s operating cash outflow was approximately RMB 80,106,000 for the year, indicating significant cash flow challenges[30]. - The company’s current liabilities exceeded its current assets by approximately RMB 199,261,000, raising concerns about its ability to continue as a going concern[30]. - The company's cash and bank balances decreased from RMB 263.4 million in 2022 to RMB 190.1 million in 2023, a decline of about 27.8%[117]. - The net cash inflow from operating activities was RMB 25,495,000, while the net cash inflow from investing activities was RMB 9,824,000, and the net cash outflow from financing activities was RMB 35,907,000[156]. Expenses and Costs - Depreciation expenses increased to RMB 74,657,000 from RMB 61,845,000, reflecting a rise of 20.5%[22]. - The group's administrative expenses decreased from approximately RMB 54.5 million for the year ended December 31, 2022, to approximately RMB 50.8 million for the year ended December 31, 2023, a reduction of about RMB 3.7 million or 6.7%[63]. - Distribution and sales expenses decreased from RMB 24.4 million for the year ended December 31, 2022, to approximately RMB 23 million for the year ended December 31, 2023, a reduction of about RMB 1.4 million or 5.7%[196]. Market Conditions and Outlook - The outlook suggests that the global economy will continue to be influenced by the outcomes of the Russia-Ukraine conflict and the Gaza conflict, while China's economy is expected to remain resilient and continue to grow due to government stimulus policies[83]. - The textile industry in China is gradually recovering, but the export market remains challenging due to restrictive trade measures from the US and EU[59]. - The domestic textile market in China is showing signs of gradual recovery following the lifting of all pandemic control measures in January 2023[200]. - The export market for high-end textile products to traditional Western markets is expected to remain weak, increasing reliance on the domestic market characterized by intense competition[200]. Discontinued Operations - The company incurred a total loss from discontinued operations of RMB 10,000,000, compared to a loss of RMB 7,689,000 in the previous year[2]. - The group’s total loss from discontinued operations was RMB 7,689,000, which includes adjustments for government grants[130]. - The company has terminated the production and sale of polyester staple fiber as of September 30, 2022, impacting its revenue streams[13]. Other Financial Metrics - Interest income for the year was RMB 5,570,000, up from RMB 4,370,000 in the previous year, representing an increase of 27.4%[14]. - Other income increased by approximately RMB 1.91 million or 81.0%, rising from about RMB 23.6 million to approximately RMB 42.7 million, mainly due to government subsidies and increased waste sales revenue[34]. - Financial costs decreased by approximately RMB 140,000 or 6.2%, from about RMB 22.7 million to approximately RMB 21.3 million, primarily due to reduced bank borrowings and lower interest rates[36]. - The actual income tax credit increased from approximately RMB 4,200,000 to approximately RMB 15,100,000, an increase of about 2.6 times[171]. Employee and Operational Metrics - The group had a total of 2,422 employees as of December 31, 2023, a slight decrease from 2,423 employees as of December 31, 2022[199]. - The group has not used any financial instruments to hedge foreign exchange risks as of December 31, 2023[39]. - The group anticipates further financing through the mortgage of certain properties, plants, and equipment[120].

Financial Performance - The company's revenue for the six months ended June 30, 2023, was approximately RMB 455.7 million, a decrease of 30.0% or RMB 196.1 million compared to the same period in 2022[47]. - The company's gross profit for the six months ended June 30, 2023, was approximately RMB 9 million, down from RMB 86.5 million for the same period in 2022, resulting in a gross margin decrease from 13.3% to 2.0%[48]. - The group reported a net loss attributable to owners of the company of approximately RMB 9.6 million, compared to a profit of approximately RMB 33.7 million in the same period last year[53]. - The basic loss per share was approximately RMB 0.77, compared to a basic earnings per share of approximately RMB 3.17 in the same period last year[54]. - For the six months ended June 30, 2023, the total comprehensive income amounted to RMB 33,658,000, a decrease from RMB 301,584,000 for the same period in 2022[102]. - The company reported a net loss of RMB (9,617,000) for the six months ended June 30, 2023, compared to a profit of RMB 33,658,000 for the same period in 2022[102]. - The total segment profit from continuing operations for the six months ended June 30, 2023, was RMB (26,474,000), a decline from RMB 52,552,000 in the same period of 2022[136]. Sales and Production - For the six months ended June 30, 2023, the company's yarn product sales volume decreased by 16.9% to approximately 38,911 tons from about 46,800 tons for the same period in 2022[43]. - The company's yarn product production volume decreased by 22.5% to approximately 43,576 tons for the six months ended June 30, 2023, from about 56,201 tons for the same period in 2022[43]. - The average selling price of yarn products decreased by 15.9% to approximately RMB 11,710 per ton for the six months ended June 30, 2023, compared to RMB 13,928 per ton for the same period in 2022[47]. - The cost of goods sold for the six months ended June 30, 2023, was RMB 446,683,000, down from RMB 565,335,000 in the same period of 2022, reflecting a decrease of approximately 21%[149]. Assets and Liabilities - As of June 30, 2023, trade receivables increased to RMB 18,054 thousand from RMB 7,068 thousand as of December 31, 2022, representing a growth of 155.7%[6]. - Trade payables decreased to RMB 13,237 thousand as of June 30, 2023, down from RMB 14,312 thousand as of December 31, 2022, a decline of 7.5%[13]. - The total current liabilities as of June 30, 2023, amounted to RMB 208,016 thousand, slightly down from RMB 211,481 thousand as of December 31, 2022, a decrease of 1.1%[13]. - The company’s cash and bank balances decreased to RMB 172,677,000 from RMB 263,398,000, reflecting a reduction of approximately 34%[92]. - The total inventory as of June 30, 2023, increased to RMB 230,977,000 from RMB 132,891,000 as of December 31, 2022, reflecting a significant rise[169]. - The company has a current liability exceeding current assets by approximately RMB 232,501,000, raising significant doubts about its ability to continue as a going concern[107]. Market Conditions - The international cotton price fluctuated between USD 0.80 and USD 0.90 per pound, significantly lower than the USD 1.50 per pound in Q2 2022, primarily due to a weak global economy and high interest rates[40]. - The textile industry faces challenges including high inflation and rising interest rates, impacting global demand and consumption[65]. - The outlook for the second half of 2023 anticipates continued economic resilience in China, despite ongoing pressures in the export market[65]. - The textile market is expected to face challenges in the future, but the company believes it can leverage opportunities arising from industry improvements[66]. Operational Adjustments - The company has adjusted its product mix to focus more on polyester yarn and grey polyester color yarn products in response to market conditions[44]. - The company plans to closely monitor market changes and adjust inventory levels and production capacity accordingly[66]. - Emphasis will be placed on improving product mix and pricing strategies to strengthen competitive advantages[66]. - The company aims to enhance production efficiency through increased automation and economies of scale[66]. Shareholder Information - As of June 30, 2023, the company had 1,252,350,000 shares issued, with significant holdings by directors, including 41.07% by Mr. Zheng Hong[72]. - The company has not purchased, sold, or redeemed any of its listed shares during the six months ending June 30, 2023[70]. - A share option scheme was adopted to recognize and reward eligible participants contributing to the group's growth, with a maximum of 125,235,000 shares available for issuance[74]. - The share option plan is valid until June 25, 2031, and no options have been granted as of the report date[81]. Cash Flow and Financing - The net cash used in operating activities was RMB (128,646,000), compared to a net cash inflow of RMB 19,384,000 for the same period in 2022[104]. - The net cash used in financing activities was RMB (29,374,000) for the six months ended June 30, 2023, compared to a net cash inflow of RMB 42,130,000 for the same period in 2022[104]. - The company has secured short-term bank loans of approximately RMB 65,300,000, which are included in current liabilities as of June 30, 2023[109]. Government Grants - The group recognized government grants of RMB 5,710,000 in the first half of 2023, a substantial increase from RMB 269,000 in the same period of 2022[142].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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。 CHINA WEAVING MATERIALS HOLDINGS LIMITED 中 國 織 材 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3778） 截至二零二三年六月三十日止六個月之中期業績公告 中國織材控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其 附屬公司（「本集團」）截至二零二三年六月三十日止六個月的未經審核簡明綜合業 績，連同二零二二年同期之比較數字如下： 簡明綜合損益及其他全面收益表 截至二零二三年六月三十日止六個月 二零二三年 二零二二年 （未經審核） （未經審核） 附註 人民幣千元 人民幣千元 （經重列） 持續經營業務 收入 4 455,663 651,838 銷售成本 (446,683) (565,335) 毛利 8,980 86,503 ...

Financial Performance - The group's gross profit from continuing operations decreased from approximately RMB 303.2 million for the year ended December 31, 2021, to approximately RMB 58.1 million for the year ended December 31, 2022, representing a decline in gross profit margin from about 18.5% to approximately 4.4%[9]. - The group reported revenue from continuing operations of approximately RMB 1.3181 billion for the year ended December 31, 2022, a decrease of 19.7% or approximately RMB 322.8 million compared to the previous year[69]. - Yarn product revenue fell by 19.7% from approximately RMB 1.6409 billion in the year ended December 31, 2021, to approximately RMB 1.3181 billion in the year ended December 31, 2022[35]. - The group experienced pressure on yarn product selling prices due to deteriorating market conditions, with selling price declines outpacing raw material cost reductions[9]. - The group reported other income from continuing operations for the year ended December 31, 2022, was approximately RMB 23.6 million, a decrease of 37.2% or about RMB 14.0 million compared to RMB 37.6 million for the year ended December 31, 2021[70]. - The group recorded other losses from continuing operations of approximately RMB 8.1 million for the year ended December 31, 2022, a decrease from approximately RMB 17.6 million for the year ended December 31, 2021[45]. - The company reported a loss attributable to owners of approximately RMB 12.6 million for the year ended December 31, 2022, compared to a profit of approximately RMB 202.5 million for the year ended December 31, 2021, indicating a significant decline in profitability[92]. - The net loss margin for the year ended December 31, 2022, was approximately 1.0%, down from a net profit margin of approximately 12.3% for the previous year, primarily due to a decrease in gross profit[92]. Market Conditions - The textile industry faced significant challenges in 2022 due to global economic downturns and fluctuating raw material prices, impacting profitability[21]. - The international crude oil prices fluctuated between $100 and $120 per barrel in the first half of 2022, affecting the prices of downstream products, including polyester yarn raw materials[30]. - The group faced significant challenges in the textile industry due to rising raw material costs and was unable to fully pass these costs onto customers, leading to pressure on sales prices[64]. - The economic growth momentum in China slowed in 2022 due to COVID-19 outbreaks and related government measures, negatively impacting the textile market[98]. - The implementation of the Xinjiang-related legislation is expected to have a severe negative effect on the company's textile exports to the United States[98]. Operational Changes - The company decided to cease operations of Xinyuan in July 2022 to preserve financial resources and focus on its core yarn production business due to cautious market outlook[27]. - The group plans to focus on core business operations after ceasing operations at the XinYuan division due to unfavorable market conditions[41]. - The company will continue to monitor market changes and adjust inventory levels and production capacity, aiming to improve product mix and pricing strategies[28]. - The new workshop's production line, with a capacity of 25,000 spindles, began commercial operations in Q4 2022, and the remaining capacity is expected to undergo trial production in Q1 2023[38]. - The new workshop with a capacity of 50,000 spindles was completed in Q4 2022, with 25,000 spindles already in commercial operation and the remaining 25,000 spindles undergoing trial production in Q1 2023[54]. - The group anticipates that the new workshop will enhance production efficiency and reduce labor costs through high automation levels[38]. - The group plans to enhance automation in production to reduce labor costs and strengthen competitive advantages, while focusing on core business and adjusting inventory levels and production capacity[77]. Customer and Supplier Dynamics - The group had over 1,900 customers as of December 31, 2022, with sales to the five largest customers accounting for 13.9% of total sales, and sales to the largest customer representing 5.1% of total sales for the same period[14]. - The company has approximately 60 suppliers, with the top five suppliers accounting for 47.1% of total procurement, indicating a high concentration risk[115]. Financial Position - As of December 31, 2022, the group's cash and bank balances were approximately RMB 263.4 million, a decrease from RMB 283.0 million as of December 31, 2021[73]. - As of December 31, 2022, the company's interest-bearing borrowings amounted to approximately RMB 515.2 million, a decrease from RMB 553.2 million as of December 31, 2021, with 83.8% of borrowings due within one year[93]. - The company's debt-to-asset ratio was approximately 38.5% as of December 31, 2022, compared to 35.5% as of December 31, 2021[93]. - The group's net current liabilities were approximately RMB 213,940,000 as of December 31, 2022, indicating significant uncertainty regarding the group's ability to continue as a going concern[179]. Governance and Compliance - The board consists of one executive director, one non-executive director, and three independent non-executive directors, ensuring compliance with independence requirements[134]. - The company has established a remuneration committee to review and determine the remuneration packages for directors and senior management, with independent non-executive director serving as the chairman[139]. - The board has implemented a risk management and internal control system to enhance operational efficiency and ensure compliance with relevant laws and regulations[150]. - The company has complied with the ethical responsibilities outlined in the professional code of conduct[197]. Strategic Initiatives - The company invested in Jiangxi Xinyuan Special Fiber Co., Ltd. to capitalize on the trend of using eco-friendly yarn products and to achieve vertical integration in the industry[67]. - The company is closely monitoring the impact of the COVID-19 pandemic on its operations and will adjust its product mix and sales strategies accordingly to ensure sufficient cash flow[149]. - The group is committed to energy conservation and environmental protection, having obtained ISO14001 certification for its subsidiaries and installed solar panels for production facilities[81].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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。 CHINA WEAVING MATERIALS HOLDINGS LIMITED 中 國 織 材 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3778） 截至二零二二年十二月三十一日止年度之業績公告 中國織材控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其 附屬公司（「本集團」）截至二零二二年十二月三十一日止財政年度的經審核綜合業 績，連同上一個財政年度的比較數字如下： 綜合損益及其他全面收益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 人民幣千元 人民幣千元 （經重列） 持續經營業務 收入 4 1,318,133 1,640,903 銷售成本 (1,260,031) (1,337,727) 毛利 58,102 303,176 其他收入 5 23,613 37,578 其他收益及虧損 6 (8,091) (17,59 ...

Economic Conditions - In 2022, China's GDP growth rate slowed to approximately 4.8% in Q1 and 0.4% in Q2, compared to a growth rate of 8.1% in 2021[15] - The global economic recovery led to increased demand for international crude oil, with prices rising from around $75 per barrel at the end of 2021 to over $120 per barrel in March 2022[11] - The company faced significant uncertainties due to the Russia-Ukraine conflict, which impacted global economic conditions[10] - The Federal Reserve raised interest rates multiple times in 2022, which raised concerns about a potential economic recession and led to a general decline in commodity prices[13] - The Chinese government has implemented various policy measures to stimulate the economy following the control of the pandemic[15] - In the first half of 2022, the economic growth momentum in China slowed down due to new COVID-19 outbreaks and related control measures, impacting the textile market negatively[47] Market Performance - The company's yarn product sales prices did not keep pace with the rising production costs due to a sluggish market environment[11] - The sales volume of the group's yarn products decreased by 14.7% from approximately 54,897 tons for the six months ended June 30, 2021, to approximately 46,800 tons for the six months ended June 30, 2022[16] - The revenue from yarn product sales fell by 11.1% from approximately RMB 733.4 million for the six months ended June 30, 2021, to approximately RMB 651.8 million for the six months ended June 30, 2022[16] - The group's gross profit decreased from approximately RMB 153.7 million for the six months ended June 30, 2021, to approximately RMB 88.9 million for the six months ended June 30, 2022, with a gross margin decline from 20.0% to 12.8%[26] - The reported segment profit for the six months ended June 30, 2022, was RMB 52,428,000, a significant decrease of 54.3% from RMB 114,546,000 in the prior year[116] Production and Operations - The production volume of PSF decreased by 25.8% from approximately 17,036 tons for the six months ended June 30, 2021, to approximately 12,633 tons for the six months ended June 30, 2022[21] - The group plans to stop operations at Xinyuan to preserve financial resources and focus on core business due to the unfavorable market conditions[23] - The company decided to cease PSF production at Xinyuan on July 9, 2022, with an estimated employee termination cost of approximately RMB 400,000[48] - The company plans to enhance automation in production to reduce labor costs and strengthen its competitive advantage[47] - The group has invested in a new highly automated workshop with a capacity of 50,000 spindles, which is expected to enhance production efficiency and reduce labor costs[21] Financial Performance - The group's revenue for the six months ended June 30, 2022, was approximately RMB 697.2 million, a decrease of 9.2% or approximately RMB 70.7 million compared to the same period last year[25] - Profit attributable to owners decreased by approximately RMB 68.4 million or 67.0%, from approximately RMB 102.1 million to approximately RMB 33.7 million, with a net profit margin decline from 13.3% to 4.8%[34] - Basic earnings per share dropped from approximately RMB 8.15 to approximately RMB 2.69, reflecting the decrease in net profit[35] - The effective tax rate rose to approximately 33.8% for the six months ended June 30, 2022, compared to 14.1% for the same period in 2021, mainly due to the full recognition of deferred tax assets[33] - The company reported a net profit of RMB 33,658,000 for the six months ended June 30, 2022, down 67.6% from RMB 103,936,000 in the same period of 2021[116] Cash Flow and Liquidity - As of June 30, 2022, the group's cash and bank balances were approximately RMB 208.6 million, down from RMB 283.0 million as of December 31, 2021[36] - The company's net current liabilities stood at RMB (165,941) thousand, worsening from RMB (109,615) thousand in the previous year, reflecting a decline in liquidity[75] - Operating cash flow for the six months ended June 30, 2022, was RMB 19,384 thousand, down from RMB 20,865 thousand in the same period last year, a decrease of about 7.1%[82] - The company reported a net cash outflow from investing activities of RMB (135,954) thousand, compared to a net inflow of RMB 14,553 thousand in the previous year, indicating a significant shift in investment strategy[82] - The group believes it has adequate financial resources to meet operational funding needs and financial obligations in the foreseeable future[89] Shareholder Information - The board proposed a final dividend of HKD 0.05 per share for the year ended December 31, 2021, but did not recommend an interim dividend for the six months ended June 30, 2022[50] - The company did not buy, sell, or redeem any of its listed shares during the six months ended June 30, 2022[51] - As of June 30, 2022, Mr. Zheng Hong held a 41.07% equity interest in the company, while Mr. Zheng Yongxiang held an 8.62% interest[52] - Major shareholder Popular Trend holds 514,305,000 shares, representing 41.07% of the company's total issued shares[67] Regulatory and Compliance - The implementation of the Uyghur Forced Labor Prevention Act is expected to have a severe negative impact on the Chinese textile export market, affecting the group indirectly[18] - The group has adopted all new and revised International Financial Reporting Standards effective from January 1, 2022, with no significant impact on the financial statements[93] - The company reported no significant contingent liabilities as of June 30, 2022, consistent with the previous year[166]

Financial Performance - The company's revenue increased by 21.3% from approximately RMB 1.421 billion in 2020 to approximately RMB 1.724 billion in 2021[11] - Gross profit and profit attributable to the owners of the company were approximately RMB 317.5 million and RMB 202.5 million, respectively[11] - The company reported total revenue of approximately RMB 1.7243 billion for the year ended December 31, 2021, an increase of 21.3% or approximately RMB 303.2 million from the previous year[26] - Profit attributable to owners for the year ended December 31, 2021, was approximately RMB 202.5 million, an increase of 222.5% or about RMB 139.7 million from RMB 62.8 million for the year ended December 31, 2020[38] - Basic earnings per share for the year ended December 31, 2021, were approximately RMB 0.1617, compared to RMB 0.0501 for the year ended December 31, 2020, reflecting an increase due to higher net profit[39] Dividends and Reserves - The board has proposed a final dividend of HKD 0.05 per share for the year ended December 31, 2021[11] - As of December 31, 2021, the company's distributable reserves were approximately RMB 134 million according to the Cayman Islands Companies Law[77] Market and Economic Conditions - China's GDP growth rate for 2021 was approximately 8.1%, the highest among major global economies[10] - The global economic recovery is expected to continue, despite uncertainties from potential COVID-19 variants and geopolitical tensions[12] - The textile market in China experienced robust growth due to improved consumer confidence and increased retail sales, driven by the successful containment of the pandemic[22] - The company is optimistic about the textile market and aims to leverage favorable market conditions to enhance its competitive position[12] Production and Sales - The company's yarn product sales increased by 3.1% to approximately 119,901 tons for the year ended December 31, 2021, compared to 116,242 tons in the previous year[21] - Yarn product revenue rose by 26.4% to approximately RMB 1.6409 billion for the year ended December 31, 2021, up from approximately RMB 1.2979 billion in the previous year[21] - The overall average selling price of yarn products increased by 22.6% to approximately RMB 13,685 per ton for the year ended December 31, 2021, compared to RMB 11,165 per ton in the previous year[26] - The production of polyester short fibers (PSF) increased by 20.1% to approximately 34,117 tons for the year ended December 31, 2021, despite a decrease in sales volume[22] Expenses and Financial Management - Distribution and selling expenses for the year ended December 31, 2021, were approximately RMB 27.1 million, an increase of 2.3% or about RMB 0.6 million from RMB 26.5 million for the year ended December 31, 2020, representing 1.6% of total revenue[33] - Administrative expenses for the year ended December 31, 2021, were approximately RMB 57.5 million, an increase of 16.9% or about RMB 8.3 million from RMB 49.2 million for the year ended December 31, 2020, accounting for 3.3% of total revenue[34] - Financial costs for the year ended December 31, 2021, were approximately RMB 24.7 million, a decrease of 16.0% or about RMB 4.7 million from RMB 29.4 million for the year ended December 31, 2020[35] - Income tax expenses for the year ended December 31, 2021, were approximately RMB 31.0 million, an increase of 134.8% or about RMB 17.8 million from RMB 13.2 million for the year ended December 31, 2020, with an effective tax rate of 13.2%[36] Corporate Governance - The company has established a remuneration committee, nomination committee, and audit committee, ensuring proper governance and oversight[134] - The board consists of one executive director, one non-executive director, and three independent non-executive directors, meeting the listing rules requirements[126] - The independent non-executive directors have confirmed their independence in accordance with the listing rules[130] - The company has complied with the corporate governance code as per the listing rules during the year ended December 31, 2021[123] Risk Management and Compliance - The board believes that the risk management and internal control systems are appropriate and effective, with no significant improvements needed[164] - The group is committed to ensuring compliance with relevant laws and regulations through its risk management and internal control systems[164] - The company closely monitors the impact of the COVID-19 pandemic on its business and adjusts its product mix and sales strategies accordingly[158] Future Plans and Investments - The company is constructing a highly automated workshop with a capacity of 50,000 spindles, which began construction in Q3 2021[11] - The company acquired the remaining minority interests in Jiangxi Xinyuan Special Fiber Co., Ltd. to strengthen its upstream business interests[11] - The company aims to improve production efficiency through increased automation and better product mix and pricing strategies[52] Shareholder Engagement - The company emphasizes the importance of effective communication with shareholders and investors through various channels, including interim reports and annual reports published on the stock exchange and the company's website[165] - Shareholders holding at least 10% of the voting rights can request a special general meeting within two months to address specified matters[167] - The company encourages shareholders to participate in annual general meetings to express their opinions and exercise their voting rights[165]

中國織材控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號 : 3778 中期報 告 2021 目 錄 2 公司資料 4 管理層討論與分析 10 企業管治及其他資料 14 簡明綜合損益及其他全面收益表 15 簡明綜合財務狀況表 17 簡明綜合權益變動表 18 簡明綜合現金流量表 19 簡明綜合財務資料附註 公司資料 | --- | --- | |----------------------------------------------------|--------------------------------| | 董事會（「董事會」） | 公司秘書 | | 執行董事 | 張志輝先生 | | 鄭永祥先生 | 授權代表 | | 非執行董事 鄭洪先生 （主席） | 鄭洪先生 | | 獨立非執行董事 | 張志輝先生 | | 張百香女士 許貽良先生 | 註冊辦事處 | | | | | 李國興先生 | Cricket Square | | | | | | Hutchins Drive | | | P.O. Box 2681 | | 董事委員會 | | | | Grand Cayman KY1-1111 | | ...

ANNUAL REPORT 2020 年報 CHINA WEAVING MATERIALS HOLDINGS LIMITED 中國織材控股有限公司 CHINA WEAVING MATERIALS HOLDINGS LIMITED 中國織材控股有限公司 (Incorporated in the Cayman Islands with limited liability) Stock code: 3778 ANNUAL REPORT 2020 (於開曼群島註冊成立的有限公司) 股份代號 : 3778 年 報 2020 目 錄 2 公司資料 4 主席報告 5 管理層討論與分析 12 董事會報告 22 企業管治報告 31 董事及高級管理層 34 獨立核數師報告 41 綜合損益及其他全面收益表 42 綜合財務狀況表 44 綜合權益變動表 45 綜合現金流量表 47 綜合財務報表附註 120 五年財務摘要 公司資料 | --- | --- | |------------------------------|---------------------------------------| | | | | 董事會（「董事會」 ...

中期報告 2020 中國織材控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號 : 3778 | --- | --- | --- | --- | --- | |-------|-------|-------|------------------------------|-------| | | | 目 | 錄 | | | | | 2 | 公司資料 | | | | | 4 | 管理層討論與分析 | | | | | 10 | 企業管治及其他資料 | | | | | 15 | 簡明綜合損益及其他全面收益表 | | | | | 16 | 簡明綜合財務狀況表 | | | | | 18 | 簡明綜合權益變動表 | | | | | 19 | 簡明綜合現金流量表 | | | | | 20 | 簡明綜合財務資料附註 | | 公司資料 | --- | --- | |--------------------------------|-----------------------------------| | 董事會（「董事會」） | 公司秘書 | | 執行董事 | 張志輝先生 | | 鄭永祥先生 非執行董事 | 授權代表 | ...