Financial Performance - Revenue for the year ended December 31, 2024, was RMB 44,013,000, a decrease of 22.6% compared to RMB 56,931,000 in 2023[11] - Profit before tax for 2024 was RMB 16,510,000, down 37.0% from RMB 26,185,000 in 2023[11] - Net profit margin for 2024 was 22.4%, a decline from 30.9% in 2023[15] - Proposed final dividend per share for 2024 is HK$0.55, reduced from HK$1 in 2023[11] - Earnings per share for 2024 decreased to RMB 0.010 from RMB 0.018 in 2023[17] - Total comprehensive income for the year decreased by 44.3% from RMB 17.6 million in 2023 to RMB 9.8 million in 2024, with a net profit margin dropping from 30.9% to 22.4%[85] - Basic earnings per share for 2024 was RMB 0.010, compared to RMB 0.018 for 2023[86] - Cash and cash equivalents decreased by RMB 63.7 million to RMB 171.3 million as of December 31, 2024, primarily due to investment cash outflow for purchasing funeral land[87] Assets and Liabilities - Total assets as of December 31, 2024, increased to RMB 334,621,000 from RMB 329,607,000 in 2023[13] - Total liabilities as of December 31, 2024, rose to RMB 106,102,000, compared to RMB 101,813,000 in 2023[13] - Current ratio for 2024 was 10.7, down from 13.5 in 2023[15] - The gearing ratio as of December 31, 2024, was 31.7%, compared to 30.9% in 2023, indicating a healthy liquidity position[109] - Cash and cash equivalents decreased by RMB 63.7 million from RMB 235.0 million in 2023 to RMB 171.3 million in 2024, primarily due to cash outflows for the cemetery joint venture project[94] Revenue Breakdown - The Group's operating revenue for the year ended December 31, 2024, was RMB 44.0 million, with a profit attributable to shareholders of RMB 9.8 million[19][20] - Burial services accounted for RMB 31.7 million, representing 72.1% of total revenue, a decrease from 79.4% in the previous year[28][33] - Revenue from funeral services was RMB 6.4 million, slightly up from RMB 6.3 million in 2023[30][34] - Revenue from cemetery maintenance services increased to RMB 5.9 million from RMB 5.5 million in 2023[31][35] - Sales of burial plots accounted for RMB 25.0 million or 56.8% of total revenue in 2024, down from 66.0% in 2023[68] Business Operations and Strategy - The Group continues to engage in the sale of burial plots and related services, indicating a focus on maintaining its core business operations[18] - The Group is exploring the "Internet + Funeral" model, offering online services such as "cloud tomb-sweeping" and "tomb-sweepings service on behalf of customers"[21][24] - Future plans include promoting intelligent construction and increasing the use of technology to improve service efficiency[26] - The Group aims to strengthen its market position in Langfang and expand its business in the Jing-Jin-Ji megalopolis through strategic partnerships and selective acquisitions[39] - The Group plans to provide integrated funeral services alongside burial services, creating a one-stop-shop experience for customers[49] - The Group is focusing on the burial services market in the Jing-Jin-Ji megalopolis, particularly in Beijing, leveraging its strategic location in Langfang[54] Corporate Governance - The board consists of seven directors, including one non-executive director, three executive directors, and three independent non-executive directors[135] - The company has adopted a board diversity policy, with a male to female ratio in the workforce of approximately 53:20 as of December 31, 2024[145] - The board is responsible for overseeing management, strategic directions, and financial performance, holding regular meetings to discuss business operations[138] - The company has complied with the Corporate Governance Code during the year ended December 31, 2024[134] - The Company has established a code of conduct applicable to employees and Directors, which is monitored by the Board[199] Committees and Meetings - The Company has established three Board committees: Audit Committee, Nomination Committee, and Remuneration Committee, to oversee specific aspects of the Company's affairs[179] - The Audit Committee conducted 3 meetings in 2024 to review interim and annual financial statements and assess the effectiveness of the Company's risk management and internal control systems[181] - The Remuneration Committee met once in 2024 to evaluate the performance of executive directors and review remuneration policies and packages[187] - The Nomination Committee held 1 meeting in 2024 to review the Board's structure, size, and composition, concluding that the Board members possess the necessary expertise and independence[190] Employee and Director Development - The Company emphasizes the importance of continuous professional development for Directors to maintain informed contributions to the Board[174] - All Directors participated in continuous professional development to ensure understanding of the Group's business and operations, with updates on corporate governance and regulatory requirements studied during the year ended December 31, 2024[171] - The Company has appointed three Independent Non-executive Directors (INEDs), representing more than one-third of the Board[153] Future Outlook - The company believes the period from 2025 to 2027 will be crucial for its development and is well-prepared to capitalize on opportunities with its available cash resources[65] - The Group is optimistic about the continuous development and expansion of its operations in the Langfang burial services market[29] - The Group aims to enhance its brand strength and reputation through the joint venture cemetery project, which is expected to generate significant revenue opportunities[53]

Financial Performance - For the year ended December 31, 2024, the group's revenue was approximately RMB 44,013,000, a decrease of RMB 12,918,000 or 22.7% compared to 2023[3]. - The profit attributable to the owners of the company for the year ended December 31, 2024, was RMB 9,848,000, down RMB 7,754,000 or 44.1% from RMB 17,602,000 in 2023[3]. - Gross profit for the year was RMB 36,599,000, down from RMB 47,752,000 in 2023, reflecting a decline in gross margin[4]. - Total revenue for the year ending December 31, 2024, was RMB 44,013,000, a decrease from RMB 56,931,000 in 2023, representing a decline of approximately 22.9%[25]. - The pre-tax profit for the year ended December 31, 2024, was RMB 16,510,000, down from RMB 26,185,000 in 2023, indicating a decrease of about 37.0%[32]. - Net profit for the year decreased by 44.3% to RMB 9.8 million in 2024 from RMB 17.6 million in 2023, with a net profit margin dropping to 22.4% from 30.9%[78]. - Basic earnings per share for the year ended December 31, 2024, was RMB 1.0, down from RMB 1.8 in 2023[4]. - Basic earnings per share for the year ended December 31, 2024, was RMB 0.010, down from RMB 0.018 in 2023[79]. Dividends - The board proposed a final dividend of HKD 0.55 per share for the year ended December 31, 2024, compared to HKD 1.00 per share in 2023[3]. - The company declared a final dividend of RMB 9,123,000 for the year ended December 31, 2024, compared to zero in 2023, marking a significant return to dividend distribution[36]. - The company proposed a final dividend of HKD 0.55 per share, totaling approximately HKD 5.5 million for the year ended December 31, 2024[64]. - The board recommends a final cash dividend of HKD 0.55 per share for the year ending December 31, 2024, totaling approximately HKD 5,500,000, pending shareholder approval[96]. Assets and Liabilities - Total assets less current liabilities as of December 31, 2024, were RMB 313,806,000, compared to RMB 308,373,000 in 2023[5]. - The company's cash and cash equivalents decreased to RMB 171,318,000 in 2024 from RMB 234,986,000 in 2023[5]. - Non-current assets decreased to RMB 111,311,000 in 2024 from RMB 43,093,000 in 2023, indicating a significant change in asset composition[5]. - The company reported a total of RMB 87.1 million in contract liabilities as of December 31, 2024, an increase from RMB 84.5 million in 2023, primarily due to long-term advance payments from customers[44]. - As of December 31, 2024, trade payables amounted to RMB 8.76 million, up from RMB 7.31 million in 2023[41]. - Total prepayments and other receivables reached RMB 83.97 million as of December 31, 2024, significantly higher than RMB 12.27 million in 2023[40]. - The company’s debt-to-asset ratio is 31.7%, an increase from 30.9% in 2023, indicating stable liquidity[88]. Revenue Segmentation - Total revenue for the year ending December 31, 2024, was RMB 44,013,000, with cemetery sales contributing RMB 25,002,000, and funeral services contributing RMB 6,384,000[16]. - For the fiscal year ending December 31, 2024, the company generated revenue of RMB 317 million, accounting for 72.1% of total revenue from funeral services, a decrease from 79.4% in 2023[48]. - The revenue from funeral services was RMB 64 million for the year ending December 31, 2024, slightly up from RMB 63 million in 2023[49]. - Revenue from cemetery maintenance services reached RMB 59 million in 2024, compared to RMB 55 million in 2023[50]. Expenses - Total employee costs for the year ended December 31, 2024, were RMB 11,023,000, slightly down from RMB 11,029,000 in 2023, indicating a marginal decrease[32]. - The total depreciation and amortization expense for the year ended December 31, 2024, was RMB 3,369,000, up from RMB 2,975,000 in 2023, reflecting an increase of about 13.2%[32]. - The company incurred distribution and selling expenses of RMB 10,530,000 for the year ended December 31, 2024, compared to RMB 10,865,000 in 2023, showing a decrease of approximately 3.1%[25]. - Sales and service costs decreased by 19.6% to RMB 7.4 million in 2024 from RMB 9.2 million in 2023[67]. Future Outlook and Strategy - The company expects to recognize revenue from remaining performance obligations of RMB 87,142,000 as of December 31, 2024, with RMB 6,812,000 expected within one year[23]. - The company anticipates continued demand for funeral services during peak periods, particularly around traditional festivals[51]. - The company aims to enhance its market position in Langfang and expand its operations in the Beijing-Tianjin-Hebei metropolitan area[52]. - The company plans to enhance its service offerings by introducing various price points for products and upgrading cemetery facilities to meet diverse customer needs[56]. - The company will continue to provide extended funeral services, including a one-stop service for rituals, body handling, and memorial services, to ensure a stable customer base[57]. - The company is strategically positioned to explore the funeral service market in the Beijing-Tianjin-Hebei metropolitan area, leveraging its location to increase marketing efforts and partnerships with local funeral service providers[59]. - The company has identified potential acquisition opportunities and strategic alliances since its GEM listing, focusing on expanding its cemetery joint venture project[60]. - The estimated total development cost for the cemetery project is approximately RMB 50 million, with additional administrative and miscellaneous costs of about RMB 4 million[62]. - The company plans to construct operational burial sites in the Beijing New Airport relocation area by 2025 and 2026, which will involve the development of the acquired land[62]. - The company has committed to providing shareholder loans at an interest rate of 6.9% to support the cemetery joint venture project as needed[62]. Compliance and Governance - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, and found them compliant with applicable accounting standards[99]. - The company has adopted corporate governance practices and confirms compliance with the corporate governance code as of December 31, 2024[97]. - There are no significant contingent liabilities reported as of December 31, 2024[92]. - The company has not engaged in any currency hedging arrangements and actively monitors foreign exchange risks[93]. - The company has no capital commitments related to intangible assets as of December 31, 2024[91]. General Information - The annual general meeting is scheduled for May 29, 2025, to approve the final dividend and other matters[101]. - There are no major events affecting the company reported after December 31, 2024[95].

Revenue and Profit Performance - Revenue for the period decreased by RMB 6,529,000 (21.3%) to RMB 24,137,000 compared to the same period last year[6] - Profit attributable to owners of the company decreased by RMB 6,675,000 (47.8%) to RMB 7,277,000 compared to the same period last year[6] - Revenue for the six months ended 30 June 2024 was RMB 24,137 thousand, a decrease from RMB 30,666 thousand in the same period in 2023[15] - Gross profit for the six months ended 30 June 2024 was RMB 20,570 thousand, down from RMB 26,430 thousand in 2023[15] - Profit before tax for the six months ended 30 June 2024 was RMB 10,727 thousand, compared to RMB 19,084 thousand in 2023[15] - Net profit attributable to owners of the Company for the six months ended 30 June 2024 was RMB 7,277 thousand, down from RMB 13,952 thousand in 2023[15] - Basic earnings per share for the six months ended 30 June 2024 were RMB 0.7 cents, compared to RMB 1.4 cents in 2023[15] - Net profit and total comprehensive income for the six months ended 30 June 2024 was RMB 7,277 thousand, compared to RMB 13,952 thousand in the same period last year[18] - Revenue decreased by 21.3% from RMB30.7 million in H1 2023 to RMB24.1 million in H1 2024, primarily due to a RMB6.8 million decrease in burial plot sales[87][89] - Gross profit decreased by 22.2% from RMB26.4 million in H1 2023 to RMB20.6 million in H1 2024[88] - The Group's profit and total comprehensive income decreased by 47.8% from RMB14.0 million in H1 2023 to RMB7.3 million in H1 2024, with net profit margin dropping from 45.5% to 30.1%[90] Segment Performance - Revenue from sales of burial plots and provision of other burial-related services reached RMB 17.777 million, accounting for 73.6% of total revenue[27][36] - Revenue from provision of cemetery maintenance services was RMB 2.826 million, representing 11.7% of total revenue[27][36] - Revenue from provision of funeral services amounted to RMB 3.534 million, contributing 14.6% of total revenue[27][36] - Total revenue for the six months ended 30 June 2024 was RMB 24.137 million[27][36] - Segment results (gross profit) for burial plots and related services were RMB 15.263 million, with a gross margin of 85.9%[36] - Segment results for cemetery maintenance services were RMB 2.356 million, with a gross margin of 83.4%[36] - Segment results for funeral services were RMB 2.951 million, with a gross margin of 83.5%[36] - Total segment results (gross profit) reached RMB 20.570 million, representing a gross margin of 85.2%[36] - Sales of burial plots and provision of other burial-related services generated RMB 25,009,000 in revenue, contributing 81.5% of the total segment revenue of RMB 30,666,000[39] - Segment results for burial plots and related services reached RMB 21,627,000, accounting for 81.8% of the total segment results of RMB 26,430,000[39] - Burial service revenue accounted for 73.7% of total revenue in H1 2024, down from 81.6% in H1 2023[86] - Funeral services revenue increased to RMB3.534 million in H1 2024, up from RMB2.96 million in H1 2023[86] - Cemetery maintenance revenue rose to RMB2.826 million in H1 2024 from RMB2.697 million in H1 2023[86] - Burial service gross profit decreased by 29.4% to RMB15.3 million in H1 2024, with gross margin falling from 86.5% to 85.9%[88] - Funeral services gross profit increased to RMB2.9 million in H1 2024, with gross margin rising from 81.3% to 83.5%[88] - Cemetery maintenance gross profit remained flat at RMB2.4 million, but gross margin declined from 88.8% to 83.4%[88] Financial Position and Assets - Total assets as of 30 June 2024 were RMB 336,776 thousand, slightly up from RMB 329,607 thousand as of 31 December 2023[16][17] - Net current assets as of 30 June 2024 were RMB 267,466 thousand, compared to RMB 265,280 thousand as of 31 December 2023[16] - Total equity attributable to owners of the Company as of 30 June 2024 was RMB 225,948 thousand, down from RMB 227,794 thousand as of 31 December 2023[17] - Retained earnings as of 30 June 2024 were RMB 142,019 thousand, a decrease from RMB 143,865 thousand at the beginning of the year due to dividends of RMB 9,123 thousand[18] - The fair value of financial assets at FVTPL as of 30 June 2024 was RMB 5,122,000, compared to RMB 5,322,000 as of 31 December 2023, reflecting a decrease of RMB 200,000[60][62] - The loss on fair value changes of financial assets at FVTPL for the six months ended 30 June 2024 was RMB 200,000, a significant reduction from RMB 829,000 in the same period in 2023[61][62] - The company holds a 10% equity interest in Huimin Town Bank Co., Ltd., classified as financial assets at FVTPL, with a fair value of RMB 5,122,000 as of 30 June 2024[60][62] - The fair value of financial assets at FVTPL was determined using a market approach, with key inputs including a P/B ratio of 0.46 and a DLOM of 35%[64] - A 5% increase in the P/B ratio would increase the carrying amount of the investment by RMB 256,091, while a 5% increase in the DLOM would decrease it by RMB 137,895[64] - Non-current prepayments and other receivables as of 30 June 2024 amounted to RMB 12,511,000, including a guarantee deposit of RMB 9,511,000 for a cemetery project[67][68] - Current prepayments and other receivables as of 30 June 2024 totaled RMB 29,596,000, including an advanced payment of RMB 29,133,000 for land demolition[67][71] - The company made an interest-bearing advanced payment of RMB 3,000,000 to Langfang Funeral Parlour, which bears interest based on prevailing bank loan rates[70][73] - An interest-free advanced payment of RMB 30,000,000 was made to Baijiawu Office for land demolition related to a new cemetery project, with the land use right acquisition expected to be completed within one year[71][73] - Trade payables decreased to RMB 6,138 thousand as of 30 June 2024, compared to RMB 7,312 thousand as of 31 December 2023, a decrease of 16.1%[74] - Other payables and accrued expenses decreased to RMB 3,686 thousand as of 30 June 2024, compared to RMB 5,484 thousand as of 31 December 2023, a decrease of 32.8%[74] - Dividend payables were RMB 9,127 thousand as of 30 June 2024, compared to none as of 31 December 2023[74] - Total trade and other payables increased to RMB 18,951 thousand as of 30 June 2024, compared to RMB 12,796 thousand as of 31 December 2023, an increase of 48.1%[74] - Contract liabilities for burial plots and cemetery maintenance services were RMB 86,585 thousand as of 30 June 2024, compared to RMB 84,521 thousand as of 31 December 2023, an increase of 2.4%[77] - Current portion of contract liabilities was RMB 7,180 thousand as of 30 June 2024, compared to RMB 7,357 thousand as of 31 December 2023, a decrease of 2.4%[77] - Non-current portion of contract liabilities was RMB 79,405 thousand as of 30 June 2024, compared to RMB 77,164 thousand as of 31 December 2023, an increase of 2.9%[77] - Total equity stood at RMB225.9 million as of 30 June 2024, compared to RMB227.8 million as of 31 December 2023[90] - The Group's gearing ratio increased to 32.9% as of 30 June 2024 from 30.9% as of 31 December 2023[93] - The company has bank balances and cash of RMB245.2 million as of 30 June 2024, indicating a strong liquidity position[108] Cash Flow and Operating Activities - Net cash generated from operating activities for the six months ended 30 June 2024 was RMB 9,683 thousand, a significant decrease from RMB 18,978 thousand in the same period last year[19] - Net cash used in investing activities for the six months ended 30 June 2024 was RMB 29,444 thousand, primarily due to the placement of term deposits of RMB 30,000 thousand[19] - Cash and cash equivalents decreased by RMB 20,036 thousand during the six months ended 30 June 2024, compared to an increase of RMB 47,114 thousand in the same period last year[19] Dividends and Shareholder Returns - The company did not recommend the payment of an interim dividend for the period[6] - A final dividend of HK1 cent per share (approximately RMB 0.9 cents) was declared for the year ended 31 December 2023, totaling HK$10,000,000[55] Costs and Expenses - Cost of sales and services decreased by 15.8% to RMB3.6 million in H1 2024 due to lower burial plot sales[88] - Distribution and selling expenses decreased by 2.4% from RMB5.3 million in H1 2023 to RMB5.1 million in H1 2024[90] - Administrative expenses increased by 29.3% from RMB4.4 million in H1 2023 to RMB5.7 million in H1 2024 due to expansion in funeral services[90] - Income tax expenses decreased by 32.8% from RMB5.1 million in H1 2023 to RMB3.5 million in H1 2024[90] - Total depreciation and amortization increased to RMB 1,662,000 in 2024 from RMB 1,085,000 in 2023, primarily due to higher depreciation of property, plant, and equipment[46] - Staff costs, including salaries and retirement benefits, rose to RMB 5,378,000 in 2024 from RMB 5,330,000 in 2023[46] - Current enterprise income tax expense decreased to RMB 3,147,000 in 2024 from RMB 4,788,000 in 2023[49] - Salaries and other benefits for key management personnel increased to RMB 1,193 thousand for the six months ended 30 June 2024, compared to RMB 972 thousand for the same period in 2023, an increase of 22.7%[83] - Discretionary performance-related bonus for key management personnel decreased to RMB 193 thousand for the six months ended 30 June 2024, compared to RMB 614 thousand for the same period in 2023, a decrease of 68.6%[83] - Total remuneration for key management personnel decreased to RMB 1,454 thousand for the six months ended 30 June 2024, compared to RMB 1,653 thousand for the same period in 2023, a decrease of 12.0%[83] Business Operations and Strategy - The company's principal activity is investment holding, with subsidiaries engaged in the sale of burial plots, provision of burial-related services, cemetery maintenance, and funeral services in China[20] - The condensed consolidated financial statements are prepared in accordance with IAS 34 "Interim Financial Reporting" and applicable disclosure requirements of the Hong Kong Stock Exchange[20] - The company has applied amendments to IFRSs issued by the IASB, which are mandatorily effective for the annual period beginning on 1 January 2024, but these amendments had no material impact on the financial position or performance[24] - All revenue is generated from contracts with customers in the PRC, with substantially all assets and liabilities located in the PRC[32][33] - The Group plans to build operating burial plots in the New Airport (Langfang area) in 2024 and 2025, subject to government approvals[103] - The Group expects to incur a capital commitment of approximately RMB85 million for the Cemetery JV Project[105] - The Group is obligated to provide a shareholder's loan to the JV Company at an annual interest rate of 6.9% for the Cemetery JV Project[105] - The joint venture cemetery project is expected to involve a total development cost of approximately RMB50 million, with additional administrative, labor, and sundry costs estimated at RMB4 million[107] - The company plans to allocate funds for the development of the cemetery joint venture project, with an estimated capital commitment of approximately RMB85 million[106] - The company expects to complete the land acquisition for the cemetery joint venture project by 2024, with the land use rights pre-announcement already completed[106] - The company aims to strengthen its market position in Langfang and expand its business in the Jing-Jin-Ji megalopolis by diversifying services, including funeral services and columbarium collective storage services[109][111] - The company is exposed to foreign exchange risk due to certain bank deposits denominated in Hong Kong dollars, but no currency hedging arrangements have been made as of the reporting period[114] - The company has no material contingent liabilities or capital commitments related to cemetery assets as of 30 June 2024[115][118] - The company plans to upgrade its "Cloud Tomb-sweeping" online services and enhance marketing efforts to further solidify its market position in Langfang[111] - The company believes the period from the second half of 2024 to 2026 will be crucial for achieving its corporate goals and creating shareholder value[107][108] - The company is prepared to pursue strategic alliances and acquisition opportunities to support the development of the cemetery joint venture project[109][113] Shareholding and Corporate Governance - Ms. Zhao Ying holds 700,000,000 shares, representing 70% of the company's total issued shares of 1,000,000,000 as of 30 June 2024[120][121][122] - Tai Shing International Investment Company Limited directly holds 700,000,000 shares, representing 70% of the company's total issued shares[125][126][127] - Lily Charm Holding Limited is deemed to be interested in 700,000,000 shares due to its ownership of Tai Shing International Investment Company Limited[125][126][127] - TMF (Cayman) Ltd., as the trustee of The Hope Trust, is deemed to be interested in 700,000,000 shares[128][130] - The Hope Trust, established by Ms. Zhao Ying, holds 700,000,000 shares through TMF (Cayman) Ltd.[128][130] - No other directors or chief executives have disclosed any additional interests or short positions in the company's shares as of 30 June 2024[123][124] - The company has a total of 1,000,000,000 shares issued as of 30 June 2024[122][128] - No substantial shareholders, other than those disclosed, hold 10% or more of the company's shares[124][129] - The company's shareholding structure is primarily controlled by entities related to Ms. Zhao Ying[120][125][128] - The company's shareholding percentages are calculated based on the total issued shares of 1,000,000,000[122][128] - Fairich Trading Limited holds 87,650,000 shares, representing 8.8% of the total issued shares of 1,000,000,000 as of June 30, 2024[132] - Ms. Xing Junying, through Fairich Trading Limited, directly owns 87,650,000 shares, also representing 8.8% of the total issued shares[132] - The company has not purchased, sold, or redeemed any of its listed securities during the period up to the report date[133] - The controlling shareholders have complied with the Deed of Non-competition, ensuring no direct or indirect competition with the company's core business[133][135] - The company has no share schemes or outstanding share options/awards as of January 1, 2024, and June 30, 2024[136] - The Audit Committee consists of three independent non-executive directors, with Dr. Wong Wing Kuen Albert serving as the chairman[138] - The Audit Committee has reviewed the unaudited condensed consolidated financial statements and confirmed compliance with applicable accounting standards, Listing Rules, and legal requirements, with adequate disclosures made[139] - The Audit Committee consists of three independent non-executive directors: Dr. Wang Yongquan, Mr. Zhang Yingkun, and Mr. Cai Hanqiang, with Dr. Wang Yongquan serving as the Chairman[139] - The unaudited condensed consolidated financial statements for the period have been reviewed and deemed compliant by the Audit Committee[139] Other Income and Expenses - Other income, including interest income and imputed interest, totaled RMB 1,920,000 for the six months ended 30 June 2024, slightly down from RMB 1,929,000 in the same period in 2023[43] - Foreign exchange gains decreased significantly to RMB 263,000 in 2024 from RMB 1,257,000 in 2023[45] Employee and Management Information - The Group had 73 employees as of 30 June 2024, down from 75 as of 31 December 2023[95]

Financial Performance - The group's unaudited revenue for the six months ended June 30, 2024, was approximately RMB 24,137,000, a decrease of RMB 6,529,000 or 21.3% compared to RMB 30,666,000 for the same period in 2023[1]. - Profit attributable to the owners of the company for the period was RMB 7,277,000, down RMB 6,675,000 or 47.8% from RMB 13,952,000 in the previous year[1]. - Gross profit for the period was RMB 20,570,000, compared to RMB 26,430,000 in the same period last year, reflecting a decline in profitability[2]. - The company's basic earnings per share for the period was RMB 0.7, down from RMB 1.4 in the previous year[2]. - The company reported a pre-tax profit of RMB 10,727,000 for the six months ended June 30, 2024, down from RMB 19,084,000 for the same period in 2023, reflecting a decline of approximately 43.8%[15][16]. - The group's total profit and comprehensive income decreased by 47.8% from RMB 14.0 million for the six months ended June 30, 2023, to RMB 7.3 million for the six months ended June 30, 2024[49]. - The net profit margin declined from 45.5% for the six months ended June 30, 2023, to 30.1% for the six months ended June 30, 2024[49]. Revenue Breakdown - Revenue from grave sales was RMB 17,777,000, while revenue from funeral services was RMB 3,534,000, and revenue from cemetery maintenance services was RMB 2,826,000[12]. - The total revenue from contracts with customers for the six months ended June 30, 2024, was RMB 24,137,000, with RMB 17,542,000 recognized at a point in time and RMB 6,595,000 recognized over time[12]. - Revenue from funeral services increased to RMB 3.534 million for the six months ended June 30, 2024, compared to RMB 2.960 million for the same period in 2023[40]. - Revenue from cemetery maintenance services was RMB 2.826 million for the six months ended June 30, 2024, up from RMB 2.697 million for the same period in 2023[41]. Assets and Liabilities - Total assets less current liabilities as of June 30, 2024, amounted to RMB 309,032,000, slightly up from RMB 308,373,000 at the end of 2023[3]. - Cash and cash equivalents at the end of the period were RMB 245,202,000, an increase from RMB 234,986,000 at the end of 2023[6]. - Non-current liabilities increased to RMB 83,084,000 from RMB 80,579,000 at the end of 2023, indicating a rise in financial obligations[4]. - The company's total equity as of June 30, 2024, was RMB 225,948,000, down from RMB 227,794,000 at the end of 2023[4]. - The total assets increased from RMB 329.6 million as of December 31, 2023, to RMB 336.8 million as of June 30, 2024[50]. - The debt-to-asset ratio increased to 32.9% as of June 30, 2024, compared to 30.9% as of December 31, 2023, indicating a stable liquidity position[52]. Cash Flow and Operating Activities - The net cash generated from operating activities for the period was RMB 9,683,000, a decrease from RMB 18,978,000 in the same period last year[6]. - Bank deposit interest income increased to RMB 880,000 from RMB 743,000, representing a growth of 18.4% year-over-year[17]. - The estimated interest income from interest-free prepayments and deposits decreased to RMB 1,038,000 from RMB 1,186,000, a decline of 12.5% year-over-year[17]. Expenses and Costs - Total depreciation and amortization expenses rose to RMB 1,662,000 from RMB 1,085,000, marking an increase of 53.2% year-over-year[20]. - Administrative expenses increased by 29.3% from RMB 44 million for the six months ended June 30, 2023, to RMB 57 million for the six months ended June 30, 2024, due to expansion in funeral projects and related services[47]. - Income tax expense decreased by 32.8% from RMB 51 million for the six months ended June 30, 2023, to RMB 35 million for the six months ended June 30, 2024, primarily due to reduced income and increased expenses[48]. Shareholder Information - As of June 30, 2024, Zhao Ying holds 700,000,000 shares, representing 70% of the company's equity[64]. - The Hope Trust, controlled by Zhao Ying, is the sole member of the trust and holds the same 700,000,000 shares, equating to 70% ownership[65]. - TMF (Cayman) Ltd., as the trustee of The Hope Trust, is also considered to hold 700,000,000 shares, which is 70% of the total[69]. - Fei Fu Trading Co., Ltd. owns 87,650,000 shares, accounting for 8.8% of the company's equity[71]. - The total number of issued shares as of June 30, 2024, is 1,000,000,000[66]. - The ownership structure indicates a concentrated control with major shareholders holding significant stakes[68]. Corporate Governance - The board emphasizes the importance of good corporate governance for effective accountability and has adhered to the corporate governance code during the period[76]. - The audit committee has been established to provide independent opinions on financial reporting procedures, internal controls, and risk management effectiveness[78]. - The audit committee reviewed the unaudited consolidated financial statements and confirmed compliance with applicable accounting standards and regulations[79]. - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the trading standards as per the listing rules[75]. - The company has not reported any conflicts of interest among directors and major shareholders during the period[74]. Future Plans and Developments - The company plans to develop a joint venture cemetery project in collaboration with Langfang New Aviation City Real Estate Development Co., with an estimated capital commitment of approximately RMB 85 million[58]. - The company expects to sign a land transfer agreement for the cemetery project within 2024, following the completion of the land transfer pre-announcement[58]. - The group aims to expand its funeral services and enhance its market position in the Beijing-Tianjin-Hebei metropolitan area through strategic alliances and acquisitions[60]. - The company is actively supporting local government urban development plans by providing collective ash storage services in the vicinity of the new Beijing airport[61].

Financial Performance - Revenue from funeral services was RMB 6.3 million for the year ended December 31, 2023, compared to RMB 0 in 2022[31]. - Revenue from cemetery maintenance services increased to RMB 5.5 million in 2023 from RMB 5.0 million in 2022, representing a 10% growth[31]. - The Group's cost of sales and services decreased by 21.0% to RMB 9.2 million in 2023 from RMB 11.6 million in 2022[49]. - Gross profit for 2023 was RMB 47.8 million, up from RMB 34.1 million in 2022[51]. - Gross profit from the burial business was RMB38.7 million in 2023, with a gross profit margin of 85.6%, compared to RMB29.6 million and a margin of 72.7% in 2022[78]. - Other income decreased by 63.2% from RMB9.5 million in 2022 to RMB3.5 million in 2023, mainly due to the absence of interest income on amounts due from related parties[79]. - Administrative expenses increased by 32.3% from RMB9.3 million in 2022 to RMB12.3 million in 2023, primarily due to an increase in staff costs resulting from a higher number of employees[81]. - Distribution and selling expenses increased by 39.7% from RMB7.8 million in 2022 to RMB10.9 million in 2023, primarily due to higher commissions and disbursements for promoting burial plot sales[55]. Customer and Supplier Concentration - The single largest customer accounted for 1.7% of the Group's revenue in 2023, down from 16.7% in 2022[19]. - Purchases from the Group's five largest suppliers accounted for approximately 44.2% of total purchases in 2023, a decrease from 67.5% in 2022[19]. Employee and Workforce Information - The Group had a total of 75 employees as of 31 December 2023, an increase from 57 employees in 2022[21]. - As of December 31, 2023, the male to female ratio in the workforce of the Group is approximately 11:4, indicating a commitment to gender diversity[120]. Corporate Governance - The Group is committed to enhancing corporate governance standards and has adopted its own code on corporate governance practices for the year ended December 31, 2023[65]. - The Board consists of seven Directors, including three Executive Directors and three Independent Non-executive Directors[91]. - The Chairman and Chief Executive Officer roles are held by different individuals, with the Chairman being Ms. Zhao Ying and the CEO position currently vacant[125]. - At least one-third of the Board members are independent non-executive Directors, ensuring a level of independence in governance[126]. - The Board will continue to review its structure and the need for appointing a suitable candidate for the CEO role[128]. - The Company emphasizes the importance of good corporate governance to protect shareholder interests and enhance corporate value[114]. Risk Management and Internal Control - The Company emphasizes the importance of an effective risk management and internal control system to achieve business objectives and safeguard assets[189]. - The Board conducted a review of the effectiveness of the risk management and internal control systems for the year ended December 31, 2023, and deemed them effective and adequate[190]. - The Group emphasizes ESG risk management and internal control, regularly reviewing ESG workflows and internal audit arrangements[194]. Strategic Initiatives - The Group plans to expand its business scope by providing integrated funeral and burial services, launching various product types at different price points[39]. - The Group aims to pursue selective acquisitions or investments in funeral service providers and cemetery operators to enhance its market position[35]. - The estimated total development cost for the joint venture cemetery project is approximately RMB 50 million[45]. - The Group will continue to cooperate with local government plans, providing funeral and columbarium storage services to meet urban development demands[37]. - The Group's strategic focus includes expanding its market presence in the Jing-Jin-Ji megalopolis, particularly in Beijing, through enhanced marketing efforts and partnerships[43]. Financial Position and Assets - The Group's asset-liability ratio as of December 31, 2023, was 30.9%, compared to 30.5% in 2022, indicating stable liquidity[61]. - As of December 31, 2023, inventories increased from RMB20.0 million to RMB21.2 million, primarily due to the construction of burial plots[82]. - Bank balances and cash increased from RMB211.3 million to approximately RMB235.0 million as of December 31, 2023, with no bank loans or borrowings[83]. Board Committees and Meetings - The Company has established three Board Committees: Audit Committee, Nomination Committee, and Remuneration Committee[142]. - The Audit Committee held 3 meetings in 2023 to review interim and annual financial statements and the effectiveness of the Company's risk management and internal control system[141]. - The Remuneration Committee met once in 2023 to evaluate the performance of executive directors and review remuneration policies and packages[175]. - The Nomination Committee is responsible for reviewing the structure, size, and composition of the Board at least annually[149]. Shareholder Communication - The Company has adopted a shareholder communication policy to ensure effective and timely information dissemination to shareholders and potential investors[200]. - The Company maintains various communication channels, including annual and interim reports, notices, announcements, and a dedicated website[200].

Revenue and Profitability - Total revenue from cemetery-related services reached RMB 56,931 thousand, with cemetery sales contributing RMB 37,566 thousand, maintenance services RMB 5,495 thousand, and funeral services RMB 6,259 thousand[1]. - Revenue recognized at a point in time amounted to RMB 43,825 thousand, while revenue recognized over time totaled RMB 13,106 thousand[1]. - For the year ending December 31, 2023, the company reported a pre-tax profit of RMB 26,185,000, compared to RMB 28,518,000 in the previous year, reflecting a decrease of approximately 8.2%[39]. - The company generated revenue of RMB 6.3 million from funeral services for the year ending December 31, 2023, which was not reported in the previous year[51]. - Revenue from funeral services amounted to RMB 45.2 million, accounting for 79.4% of total revenue for the year ended December 31, 2023[84]. - The company's net profit decreased by 20.1% to RMB 17.6 million in 2023, with a net profit margin dropping to 30.9% from 48.2% in 2022[99]. - Revenue for the year ended December 31, 2023, was RMB 56,931 million, an increase from RMB 45,738 million in 2022[127]. - Gross profit for the year ended December 31, 2023, was RMB 47,752 million, compared to RMB 34,125 million in 2022[127]. - Profit attributable to owners for the year ended December 31, 2023, was RMB 17,602 million, down from RMB 22,030 million in 2022[127]. Expenses and Costs - The company’s revenue from cemetery maintenance services was RMB 82,676,000, an increase from RMB 75,897,000 in the previous year, representing a growth of approximately 8.5%[48]. - The total employee costs for the year amounted to RMB 8,583 thousand, an increase from RMB 6,488 thousand in the previous year[182]. - Administrative expenses increased by 32.3% to RMB 12.3 million in 2023, up from RMB 9.3 million in 2022, mainly due to an increase in employee costs[65]. - The sales and service costs for 2023 were RMB 9.2 million, a decrease of 21.0% from RMB 11.6 million in 2022[61]. - The company’s total tax expense for the year was RMB 8,583,000, compared to RMB 6,488,000 in the previous year, indicating an increase of approximately 32.3%[39]. Cash Flow and Liquidity - As of December 31, 2023, the company had cash and bank balances of RMB 235.0 million, indicating a strong liquidity position[59]. - Cash and cash equivalents increased by RMB 53.7 million, from RMB 181.3 million on December 31, 2022, to RMB 235.0 million on December 31, 2023, primarily due to operating cash inflows[100]. - Cash and cash equivalents increased to RMB 234,986,000 as of December 31, 2023, from RMB 211,284,000 in 2022[136]. - The debt-to-asset ratio was 30.9% as of December 31, 2023, compared to 30.5% in 2022, indicating stable liquidity[105]. Assets and Liabilities - As of December 31, 2023, the company reported trade payables of RMB 7,312,000 and other payables of RMB 5,484,000, compared to RMB 5,785,000 and RMB 3,871,000 respectively in the previous year[47]. - Non-current contract liabilities increased from RMB 707 million as of December 31, 2022, to RMB 772 million as of December 31, 2023, due to an increase in customer prepayments received during the year[103]. - Total liabilities increased to RMB 80,579,000 as of December 31, 2023, compared to RMB 73,855,000 in 2022[138]. - The net asset value attributable to the owners of the company was RMB 227,794,000 as of December 31, 2023, up from RMB 210,192,000 in 2022[138]. Strategic Plans and Market Expansion - The company plans to continue expanding its one-stop funeral services in Langfang, which includes various offerings such as ceremonies and memorial services[28]. - The company aims to expand its market presence in the Beijing-Tianjin-Hebei metropolitan area, focusing on acquiring or investing in funeral service providers and cemetery operators[53]. - The company believes that integrating funeral and cemetery services will provide a significant competitive advantage and ensure smooth processes throughout each stage[28]. - The company plans to invest approximately RMB 85 million in the construction and development of operational burial sites in the Beijing new airport area, with funding expected to come from shareholder loans at an interest rate of 6.9%[58]. - The company is actively supporting local government urban development plans by providing funeral services and collective storage for ashes, which may enhance revenue sources[54]. - The company plans to continue developing its joint cemetery project with Langfang New Aviation City Real Estate Development Co., aiming to strengthen its market position in the Langfang and Beijing-Tianjin-Hebei metropolitan area[195]. - The company intends to expand its service range from solely providing funeral services to offering comprehensive funeral and burial services, including various price points and professional services[197]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.01 per share, equivalent to approximately RMB 0.009 per share, subject to shareholder approval[41]. - The proposed final dividend is HKD 0.01 per share, totaling approximately HKD 10 million, subject to shareholder approval[117]. - The group did not declare or propose any dividends for ordinary shareholders for the year ended December 31, 2023, consistent with the previous year[184]. Financial Reporting and Standards - The company has implemented new international financial reporting standards effective from January 1, 2023, which may impact financial reporting[142]. - The group expects no significant impact from the newly adopted International Financial Reporting Standards on its consolidated financial statements in the foreseeable future[157]. - The group’s financial position and performance were not significantly affected by the new International Financial Reporting Standards and their amendments adopted this year[154].

Joint Venture and Project Development - The joint venture company is expected to complete relevant approval procedures within 2023 and will begin land acquisition for the Cemetery JV Project thereafter[1]. - The estimated total development cost for the Cemetery JV Project is approximately RMB 50 million, with additional administrative, labor, and miscellaneous costs estimated at RMB 4 million[3]. - As of June 30, 2023, the Group had no capital commitments related to cemetery assets, consistent with December 31, 2022[5]. Financial Performance - The unaudited revenue of the Group for the six months ended 30 June 2023 was approximately RMB 30,666,000, representing an increase of RMB 6,870,000 or 28.9% compared to RMB 23,796,000 for the same period in 2022[55]. - The profit attributable to owners of the Company for the Period was RMB 13,952,000, which is an increase of RMB 212,000 or 1.5% compared to RMB 13,740,000 for the same period in 2022[55]. - Gross profit for the same period was RMB 26,430,000, representing a gross margin of 86.2%, up from RMB 15,401,000 in 2022[59]. - Profit before tax increased to RMB 19,084,000, compared to RMB 17,396,000 in the previous year, reflecting a growth of 9.7%[59]. - Profit and total comprehensive income attributable to owners of the Company was RMB 13,952,000, slightly up from RMB 13,740,000 in 2022[59]. - Basic earnings per share remained stable at 1.4 RMB cents for both 2023 and 2022[59]. Revenue Breakdown - For the six months ended June 30, 2023, total revenue amounted to RMB 30,666,000, with sales of burial plots contributing RMB 25,009,000[112]. - The revenue from cemetery maintenance services was RMB 2,960,000, while the provision of funeral services generated RMB 2,697,000[112]. - Revenue from burial services represented 81.6% of total revenue for the six months ended 30 June 2023, down from 89.7% in 2022[194]. - Revenue from cemetery maintenance services was RMB 2,697,000 for the six months ended 30 June 2023, compared to RMB 2,448,000 in 2022[195]. - Revenue from funeral services was RMB 2,960,000 for the six months ended June 30, 2023, with no revenue reported in 2022[196]. Cost Management - The company reported a decrease in cost of sales and services to RMB 4,236,000 from RMB 8,395,000 in the previous year, reflecting improved cost management[59]. - The Group's cost of sales and services decreased by 49.5% from approximately RMB 8.4 million for the six months ended 30 June 2022 to RMB 4.2 million for the six months ended 30 June 2023[199]. - Salaries and other benefits for the Period amounted to RMB 972,000, an increase from RMB 819,000 in the same period last year[33]. - Total staff costs for the six months ended June 30, 2023, were RMB 5,330,000, an increase from RMB 3,725,000 in the same period of 2022[127]. Asset Management - Total assets as of June 30, 2023, were RMB 276,897,000, an increase from RMB 261,597,000 at the end of 2022[60]. - The Group's investment property and cemetery assets were highlighted in the financial statements, indicating ongoing asset management strategies[37][38]. - The fair value of financial assets at fair value through profit or loss (FVTPL) was RMB 6,250,000 as of June 30, 2023, down from RMB 6,270,000 at December 31, 2022[26]. - The fair value of investment properties was determined using the direct comparison method, with leasehold land valued at RMB 3,802,000 and landscape facilities at RMB 7,139,000 as of June 30, 2023[175]. Cash Flow and Liquidity - Net cash generated from operating activities for the six months ended June 30, 2023, was RMB 18,978,000, significantly higher than RMB 6,843,000 for the same period in 2022, marking an increase of approximately 177%[64]. - Cash and cash equivalents at the end of the period reached RMB 229,655,000, up from RMB 91,716,000 at the end of the previous period, representing a substantial increase of approximately 150%[64]. - Current liabilities decreased to RMB 16,384,000 from RMB 18,243,000 at the end of 2022, indicating improved liquidity[60]. - The company received interest income of RMB 743,000 during the first half of 2023, up from RMB 432,000 in the same period of 2022, which is an increase of approximately 72%[64]. Shareholder and Governance - As of June 30, 2023, substantial shareholders with interests of 10% or more in the Company were disclosed, but specific names and percentages were not provided in the available data[9]. - The Company has established an audit committee to oversee financial reporting, internal controls, and risk management, consisting of three independent non-executive directors[21]. - The Company is incorporated in the Cayman Islands and has a stock code of 6966[19]. Future Outlook and Strategy - The management discussion and analysis section provides insights into future strategies and market expansion plans, although specific details were not included in the provided content[48]. - The company continues to focus on expanding its market presence within China, leveraging its existing service offerings[93]. - The Group's identifiable assets and liabilities are substantially located in the PRC, indicating a strong domestic focus[93].

Financial Performance - Revenue for the year ended December 31, 2022, was RMB 45,738,000, representing an increase of 4.1% from RMB 43,949,000 in 2021[13]. - Profit before tax for 2022 was RMB 28,518,000, up from RMB 24,908,000 in 2021, indicating a growth of 14.4%[13]. - Net profit margin improved to 48.2% in 2022, compared to 41.3% in 2021[17]. - Earnings per share increased to RMB 0.022 in 2022 from RMB 0.018 in 2021, a rise of 22.2%[19]. - Profit and total comprehensive income for the year increased by 21.5% from RMB 18.1 million in 2021 to RMB 22.0 million in 2022, with a net profit margin increase from 41.3% to 48.2%[107]. - Gross profit for 2022 was RMB 34.1 million, a decrease from RMB 36.4 million in 2021, resulting in an overall gross profit margin of 74.6% compared to 82.8% in 2021[96][97]. - The gross profit margin for the burial business decreased to 72.7% in 2022 from 82.2% in 2021, while the cemetery maintenance services margin increased by approximately 2.6% year-on-year[98]. Assets and Equity - Total assets as of December 31, 2022, increased to RMB 302,290,000 from RMB 279,139,000 in 2021, reflecting a growth of 8.3%[15]. - Total equity attributable to owners rose to RMB 210,192,000 in 2022, up from RMB 188,162,000 in 2021, marking an increase of 11.7%[15]. - As of December 31, 2022, the company had bank balances and cash of RMB 211,284,000, indicating a strong liquidity position[75]. - Cash and cash equivalents increased by RMB 108.1 million to RMB 181.3 million as of 31 December 2022, primarily due to a net cash inflow of RMB 100.0 million from investing activities[109]. Liquidity and Financial Ratios - Current ratio improved to 14.3 in 2022, compared to 10.5 in 2021, indicating better liquidity[17]. - Gearing ratio decreased to 30.5% in 2022 from 32.6% in 2021, suggesting a reduction in financial leverage[17]. - The gearing ratio as of December 31, 2022, was 30.5%, down from 32.6% in 2021, reflecting a healthier liquidity position for the Group[132]. Revenue Sources - Burial services represented 89.2% of the Company's revenue for the year ended 31 December 2022, slightly down from 89.7% in 2021[34][39]. - Revenue from cemetery maintenance services was RMB 5.0 million for the year ended 31 December 2022, an increase from RMB 4.5 million in 2021[36]. - Revenue from cemetery maintenance services reached RMB 5.0 million in 2022, up from RMB 4.5 million in 2021, representing an increase of approximately 11.1%[40]. - Revenue for the year ended December 31, 2022, was RMB 45,738,000, with sales of burial plots contributing 58.7% of total revenue[88]. Business Strategy and Expansion - The company plans to continue expanding its cemetery maintenance services and related offerings in the future[21]. - The Company plans to enhance its comprehensive service capability in the Jing-Jin-Ji region and continue to innovate in cemetery operations and services in 2023[31][37]. - The Group aims to strengthen its market position in Langfang and expand its business in the Jing-Jin-Ji megalopolis through strategic partnerships and selective acquisitions of death care service providers[43][45]. - The Group plans to launch various product types at different price points and enhance its funeral services to meet diverse customer needs[49]. - The Group is focusing on the burial services market in the Jing-Jin-Ji megalopolis, particularly in Beijing, where affordable burial plots are increasingly scarce[61]. - The Group plans to invest more marketing resources to serve neighboring cities and collaborate with local funeral service providers to improve service accessibility[63]. Projects and Developments - The Company successfully won the bidding for the outsourcing project of extended burial services at Langfang Funeral Parlor, contributing to local burial services[26][29]. - The JV Cemetery Project is a major development initiative that will facilitate the Group's market consolidation and expansion in Langfang[44][49]. - The joint venture cemetery project is a major development initiative, with ongoing efforts to obtain government approvals for construction amid the complexities of urban planning[70]. - By the end of 2022, the Group has developed several specific plans for the cemetery project, focusing on design optimization and compliance with governmental requirements[74]. - The Group has engaged professional firms for the overall design and planning of the cemetery project, addressing various aspects such as safety, environmental control, and marketing[74]. Governance and Management - The Board consists of seven Directors, with three being female, reflecting a gender ratio of approximately 54:23 in the workforce as of December 31, 2022[171]. - The Company has appointed three Independent Non-executive Directors (INEDs), representing more than one-third of the Board, ensuring compliance with the Listing Rules[180]. - The Board has implemented a Board Diversity Policy with measurable objectives to enhance diversity in skills, industry knowledge, and other qualities among Directors[170]. - The Company has a code of conduct for Directors regarding securities transactions, ensuring compliance with the required standards[178]. - The Nomination Committee is responsible for reviewing Board composition and assessing the independence of independent non-executive Directors[189]. Social Responsibility - The Company has been actively involved in social and public welfare activities, promoting positive energy in society and gaining recognition from various sectors[27][29].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 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 WAN TONG YUAN (HOLDINGS) LIMITED 中 國 萬 桐 園（ 控 股 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：6966） 全年業績公告 截至2022年12月31日止年度 中國萬桐園（控股）有限公司（「本公司」）的董事（「董事」）會（「董事會」）謹此提呈本公司及 其附屬公司（以下統稱為「本集團」）截至2022年12月31日止年度的合併財務業績，連同截 至2021年12月31日止年度的比較數字如下： 財務摘要 • 截至2022年12月31日止年度，本集團的收益約為人民幣45,738,000元（2021年：人 民幣43,949,000元），較2021年增加人民幣1,789,000元或4.1%。 • 截至2022年12月31日止年度，本公司擁有人應佔溢利為人民幣22,030,000元（2021 年：人民幣18,140,000元），較2021年增加人民 ...

Financial Performance - The unaudited revenue of China Wan Tong Yuan (Holdings) Limited for the six months ended June 30, 2022, was approximately RMB 23,796,000, representing an increase of RMB 3,051,000 or 14.7% compared to RMB 20,745,000 for the same period in 2021[10]. - The profit attributable to owners of the Company for the same period was RMB 13,740,000, an increase of RMB 6,085,000 or 79.5% compared to RMB 7,655,000 in the previous year[10]. - Revenue for the six months ended June 30, 2022, increased to RMB 23,796,000 from RMB 20,745,000, representing a growth of 9.9% year-over-year[20]. - Gross profit for the same period decreased to RMB 15,401,000 from RMB 17,396,000, a decline of 11.5%[20]. - Profit before tax rose to RMB 17,396,000 from RMB 10,610,000, reflecting a growth of 64.5%[20]. - Basic earnings per share increased to 1.4 RMB cents from 0.8 RMB cents, a growth of 75%[20]. - The Group's profit and total comprehensive income increased by 79.5% from RMB 7.7 million for the six months ended June 30, 2021 to RMB 13.7 million for the six months ended June 30, 2022, with a net profit margin increase from 36.9% to 57.7%[136]. Dividends and Equity - The Board does not recommend the payment of an interim dividend for the Period[10]. - Total equity attributable to owners of the Company was RMB 201,902,000, up from RMB 188,162,000, an increase of 7.3%[24]. - The Group's total equity increased to RMB 201.9 million as at 30 June 2022 from RMB 188.2 million as at 31 December 2021[136]. Cash Flow and Assets - The net cash generated from operating activities was RMB 6,843, a significant improvement compared to a cash outflow of RMB 21,783 in the same period of 2021[28]. - The company reported a net cash increase of RMB 18,368 in cash and cash equivalents, compared to a decrease of RMB 32,909 in the prior year[28]. - Total assets as of June 30, 2022, amounted to RMB 227,813,000, compared to RMB 214,452,000 at the end of 2021, an increase of 6.2%[22]. - As of June 30, 2022, cash and cash equivalents stood at RMB 91,716, down from RMB 110,469 a year earlier[28]. Operational Strategies - The Company continues to focus on enhancing its operational efficiency and market presence[10]. - The management discussion highlights key operational strategies and market trends impacting the Group's performance[10]. - The Group plans to expand its business scope to include funeral services and enhance its cemetery operations through innovations like "Cloud Tomb-sweeping" services[139][140]. - The Group aims to strengthen its market position in Langfang and expand into the Jing-Jin-Ji megalopolis through strategic alliances and acquisitions[139]. Revenue Sources - For the six months ended June 30, 2022, total revenue was RMB 23,796,000, with sales of burial plots contributing RMB 21,348,000 and cemetery maintenance services contributing RMB 2,448,000[35]. - Revenue from burial services represented 89.7% of the Group's total revenue for the six months ended 30 June 2022, compared to 89.2% in 2021[130]. - Revenue from cemetery maintenance services was RMB 2,448,000 for the six months ended June 30, 2022, an increase from RMB 2,234,000 in 2021[131]. Expenses and Costs - Administrative expenses for the period were RMB 3,406,000, while finance costs amounted to RMB 3,917,000[48]. - The Group's distribution and selling expenses decreased by 4.7% from RMB 3.6 million to RMB 3.4 million for the same period[134]. - The Group's administrative expenses increased by 4.5% from RMB 3.8 million to RMB 3.9 million for the six months ended June 30, 2022[134]. Investments and Loans - A loan agreement was established with China VAST for a principal amount of RMB 100 million at an annual interest rate of 12%[126]. - The loan was fully repaid by China VAST in July 2022 after the original repayment date was extended for 24 months[128]. Compliance and Governance - The financial statements were reviewed in accordance with International Accounting Standard 34, ensuring compliance with relevant provisions[12]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the period, confirming compliance with applicable accounting standards and legal requirements[177]. Market Trends and Future Outlook - The company provided a positive outlook for the next quarter, projecting revenue growth of B% based on current market trends and user engagement[182]. - The company is considering strategic acquisitions to bolster its market position, with a focus on companies that align with its core business objectives[182]. - Future guidance indicates a commitment to sustainable practices, aiming for a J% reduction in carbon footprint by the end of the fiscal year[182].