Financial Performance - The Group's revenue for the nine months ended 31 December 2022 was approximately RMB1,295.42 million, representing an increase of approximately 4.91% compared to the same period in the previous fiscal year[3]. - Profit attributable to owners for the same period was approximately RMB123.01 million, with total comprehensive income attributable to owners amounting to approximately RMB125.09 million[4]. - Basic profit per share for the Group was approximately RMB0.035 for the period[21]. - The Group's total comprehensive income for the nine months was approximately RMB229.24 million, compared to RMB216.30 million in the previous year[24]. - The Group's profit for the period was RMB229.05 million, compared to RMB214.10 million in the previous year[24]. - The Group's current tax for the period was RMB23.51 million, a decrease from RMB28.25 million in the previous year[32]. - The Group's exchange differences from the translation of foreign operations amounted to RMB191, compared to RMB2,201 in the previous year[24]. - The Group's revenue for the nine months ended 31 December 2022 increased by 4.91% compared to the same period in 2021, reaching RMB 1,295,419,000[36]. - Sales of mineral concentrates surged by over 91.44% year-on-year, attributed to the full operation of Anhui Jinding Mining Co., Ltd. since the second quarter of the previous financial year[36]. - The blasting business revenue decreased by approximately 40.69% compared to the same period last year due to indirect shutdowns of infrastructure projects[36]. - The Group's explosive business showed significant revenue growth compared to the same period last year, although it still lagged behind the previous year's performance[75]. - For the nine-month period ended December 31, 2022, the Group's revenue from the sale of explosives increased significantly compared to the same period last year, despite the ongoing impact of rising raw material prices on gross profit[97]. Assets and Liabilities - As of 31 December 2022, the Group's net assets amounted to approximately RMB 1,818.08 million, an increase from RMB 1,436.60 million as of 31 March 2022[61]. - Current assets as of 31 December 2022 were approximately RMB 1,622.52 million, with cash and bank balances of approximately RMB 710.71 million[61]. - The Group did not have any significant investments during the nine months ended 31 December 2022[63]. - The Group's borrowings as of December 31, 2022, were secured by contract assets and trade receivables amounting to RMB 0 and RMB 5.33 million, respectively[89]. - The Group's capital expenditure contracted but not provided as of December 31, 2022, for the acquisition of property, plant, and equipment was RMB 39.02 million[69]. - The Group did not have any material contingent liabilities as of December 31, 2022[71]. Dividends - No dividend was recommended for the nine months ended 31 December 2022, consistent with the previous year[33]. - The Board does not recommend the payment of any dividend for the period[44]. - The Group did not recommend any dividend payment for the nine months ended December 31, 2022, consistent with the previous year[80]. Employment and Staff - The Group employed 1,355 full-time employees as of December 31, 2022, compared to 1,343 employees as of March 31, 2022[72]. - The Group's staff remuneration packages are aligned with prevailing market rates and include benefits such as mandatory provident fund and discretionary bonuses based on performance[107]. Corporate Governance - The quarterly report is unaudited but has been reviewed by the audit committee of the Company[13]. - The audit committee reviewed the Group's draft unaudited financial statements for the nine months ended 31 December 2022[175]. - The Company has complied with all code provisions set out in the Code on Corporate Governance Practices during the nine months ended 31 December 2022[160]. - The Company established an audit committee composed of three independent non-executive Directors to oversee financial reporting and internal control procedures[173]. - The Company has adopted a code of conduct regarding Directors' securities transactions that meets or exceeds the required standards of the GEM Listing Rules[183]. - The Company has maintained a higher standard of dealings for Directors' securities transactions than required by the GEM Listing Rules[183]. - The Company has not reported any non-compliance with the code of conduct regarding Directors' securities transactions during the nine months ended 31 December 2022[183]. Shareholding Structure - As of December 31, 2022, the Directors and chief executive held a total of 1,659,687,368 ordinary shares, representing approximately 46.64% of the shareholding[100]. - As of December 31, 2022, Shiny Ocean holds 1,361,516,331 ordinary shares, representing 38.26% of the total shareholding[137]. - The total number of ordinary shares held by Ma Family Holdings is 1,902,103,222, which includes interests of various parties[138]. - Ms. Ma Xia holds 172,166,037 ordinary shares, accounting for 4.84% of the total shares[150]. - Mr. Ma Qiang has interests in 1,902,103,222 ordinary shares, representing 53.45% of the total shareholding[144]. - Mr. Yang Tao is a beneficial owner of 274,919,268 ordinary shares, which is 7.73% of the total[146]. - The percentage of shareholding is calculated based on the number of issued shares of the Company as of December 31, 2022[153]. - The interests of Fabulous Seeker Holdings Limited in the Company amount to 80,811,927 shares[6]. - Crystal Sky Development Inc. holds 34,024,908 shares, equally owned by Ms. Qin and her husband[5]. - The total shareholding of the directors and chief executives as of December 31, 2022, shows no additional interests or short positions that need to be disclosed[135]. - The report indicates that the interests of various shareholders are interconnected through irrevocable undertakings among family members[154]. Business Strategy - The Group aims to enhance its business operations by promoting cooperation with Tibet Tianren Mining Co., Ltd., which is expected to contribute to business growth and provide a development platform[111]. - The Group's strategy includes steady promotion of its core businesses, including civil explosives production and sales, blasting operations, and mining engineering[111]. - The concentrate sales business of Anhui Jinding, a subsidiary of the Group, continues to grow, with plans to optimize management systems and improve processes to further increase revenue[98][110]. Taxation - The Group's effective tax rate for its subsidiaries in Tibet is 9%, while other subsidiaries have a tax rate of 15%[17]. - The effective income tax rate for the subsidiary in Lhasa is 9%, while the other two branches resumed a rate of 15%[78]. Other Information - The Group has not taken any foreign exchange hedging measures, as it does not perceive significant foreign exchange risk[105]. - The Group's blasting business showed some recovery in the third quarter, although it still faced a significant gap compared to the same period last year[97]. - The Group did not have any significant investments during the nine months ended 31 December 2022[63].

Financial Performance - The Group's revenue for the six months ended September 30, 2022, was approximately RMB 760.64 million, representing a decrease of approximately 3.10% compared to the corresponding period in the previous fiscal year[7]. - Profit attributable to owners for the Interim Period was approximately RMB 96.43 million[8]. - Total comprehensive income attributable to owners of the Company for the Interim Period was approximately RMB 97.98 million[9]. - Basic earnings per share for the Interim Period was approximately RMB 0.027[10]. - The profit for the period attributable to owners of the Company was RMB 96,431,000 for the six months ended 30 September 2022, compared to RMB 85,535,000 for the same period in 2021, representing an increase of approximately 12.1%[45]. - Revenue from the sale of explosives and provision of blasting operations and mining engineering was RMB 336,940,000, compared to RMB 453,071,000 in the previous year, reflecting a decline of 25.6%[31]. - Sales of mineral concentrates increased significantly to RMB 197,280,000 from RMB 65,343,000, marking a growth of 201.5% year-on-year[31]. - Segment profit for the sale of mineral concentrates was RMB 56,189,000, while the overall profit before income tax for the six months was RMB 197,933,000[34]. - The Group's external sales for the three months ended 30 September 2022 were RMB 291,472,000, down from RMB 331,228,000 in the same quarter of 2021[31]. - The segment profit for the sale of explosives and mining engineering was RMB 149,662,000, contributing significantly to the overall performance despite a decrease in revenue[34]. Assets and Liabilities - Current assets amounted to approximately RMB 1,538.33 million as of September 30, 2022[19]. - Current liabilities totaled approximately RMB 1,213.48 million as of September 30, 2022[19]. - Net current assets increased to approximately RMB 324.85 million as of September 30, 2022[19]. - Total assets less current liabilities were approximately RMB 2,130.16 million as of September 30, 2022[19]. - Total equity attributable to owners of the Company as of 30 September 2022 was RMB 1,571,855, an increase from RMB 1,436,599 as of 31 March 2022[21]. - Non-current liabilities decreased to RMB 533,854 as of 30 September 2022 from RMB 564,854 as of 31 March 2022[21]. - The Company reported net assets of RMB 1,571,855 as of 30 September 2022, up from RMB 1,436,599 as of 31 March 2022[21]. - The Company’s total equity as of 30 September 2022 was RMB 1,571,855, reflecting a strong financial position[21]. - Trade receivables, net, were RMB 171,802,000 as of 30 September 2022, compared to RMB 151,056,000 as of 31 March 2022, indicating an increase of approximately 13.8%[51]. - Bills receivables amounted to RMB 467,849,000 as of 30 September 2022, up from RMB 415,663,000 as of 31 March 2022, reflecting a growth of about 12.5%[51]. Cash Flow - Net cash generated from operating activities for the six months ended 30 September 2022 was RMB 80,156, a decrease of 41.5% compared to RMB 137,166 for the same period in 2021[27]. - Net cash used in investing activities was RMB 10,543 for the six months ended 30 September 2022, compared to RMB 46,512 in the same period of 2021, indicating a significant reduction in investment outflows[27]. - Net cash (used in)/generated from financing activities was RMB (105,420) for the six months ended 30 September 2022, contrasting with a net inflow of RMB 109,065 in the same period of 2021[27]. - Cash and cash equivalents at the end of the period were RMB 592,437, a decrease from RMB 623,396 at the beginning of the period[27]. - The Company’s cash and cash equivalents decreased by RMB 35,807 during the period, compared to an increase of RMB 199,719 in the previous year[27]. Dividends - The Board does not recommend the payment of an interim dividend[12]. - The Company does not recommend the payment of an interim dividend for the current period, compared to HK$0.01 per share in the previous year[44]. - The Company paid dividends totaling RMB 31,312 during the six months ended 30 September 2022[27]. Shareholding Structure - As of September 30, 2022, Mr. Liu Fali holds 242,415,854 ordinary shares, representing approximately 6.81% of the total shareholding[97]. - Mr. Liu Fali also has interests in an agreement to acquire 1,659,687,368 ordinary shares, which accounts for approximately 46.64% of the total shareholding[97]. - Ms. Ma Ye is a beneficial owner of 126,005,000 ordinary shares, representing about 3.54% of the total shareholding[100]. - The total number of shares held by parties to an agreement to acquire interests in the Company is 1,776,098,222 ordinary shares, which is approximately 49.91% of the total shareholding[100]. - Mr. Xiong Zeke has interests in 80,811,927 ordinary shares through a controlled corporation, accounting for approximately 2.27% of the total shareholding[97]. - Ms. Qin Chunhong holds 34,024,908 ordinary shares, representing approximately 0.96% of the total shareholding[97]. - The percentage of shareholding is calculated based on the number of issued shares of the Company as of September 30, 2022[102]. - Mr. Ma Tianyi has interests in 5,480,000 ordinary shares, which is approximately 0.15% of the total shareholding[100]. - The Company has a significant concentration of shareholding, with major shareholders holding substantial percentages[100]. - The interests of Fabulous Seeker Holdings Limited in 80,811,927 shares are attributed to Mr. Xiong Zeke, who is deemed to be interested in these shares[102]. - As of September 30, 2022, Shiny Ocean Holdings Limited holds 1,361,516,331 ordinary shares, representing approximately 38.26% of the total shareholding[107]. - Mr. Ma Suocheng has interests in 1,902,103,222 ordinary shares, accounting for 53.45% of the total shareholding[107]. - Ms. Ma Xia is a beneficial owner of 172,166,037 ordinary shares, which is about 4.84% of the total shareholding[108]. - The total number of shares held by parties to an agreement to acquire interests in the Company is 1,729,937,185 ordinary shares, representing 48.61%[108]. - Mr. Yang Tao holds 274,919,268 ordinary shares, which is approximately 7.73% of the total shareholding[108]. - Mr. Li Man owns 272,039,268 ordinary shares, accounting for about 7.64% of the total shareholding[108]. - Mr. Lyu Wenhua has a beneficial interest in 240,696,854 ordinary shares, representing approximately 6.76% of the total shareholding[108]. - No directors or chief executives had any interests or short positions in shares as of September 30, 2022[103]. - The report indicates that no substantial changes in shareholding were disclosed apart from those mentioned[106]. Corporate Governance - The Company continues to comply with the minimum standards of dealing by directors as per the GEM Listing Rules[105]. - The Company has complied with all code provisions of the Corporate Governance Practices throughout the review period[111]. - The audit committee, composed of three independent non-executive Directors, has reviewed and commented on the interim report for the six months ended 30 September 2022[114]. - The Board of Directors includes six executive directors and three independent non-executive directors as of the report date[114][115]. Operational Highlights - The Group operates primarily in the PRC, with significant activities in the trading of non-ferrous metals and minerals in Hong Kong[33]. - The Group's overall business development was stable during the six months ended 30 September 2022, despite the rising price of raw materials[93]. - Anhui Jinding, a wholly-owned subsidiary, has entered a stable production period and achieved expected results, contributing stable income to the Group[94]. - The Group will continue to focus on the production and sales of civilian explosives and strive to overcome market uncertainties[95]. - As of 30 September 2022, the Group had 1,331 full-time employees, a slight decrease from 1,343 as of 31 March 2022[81]. - The Group did not have any material contingent liabilities as of 30 September 2022[80]. - The Group's borrowings are secured by the pledge of certain contract assets and trade receivables amounting to RMB196,330,000[72]. - The capital commitments of the Group as of 30 September 2022 are detailed in note 12 to the interim financial statements[78]. - The Group processed a total of 535,298.44 tons of dry ore, including 362,047.83 tons of pyrite, with an average grade of Cu 0.10%, S 17.64%, and Au 0.37 (g/t)[85]. - The processing plant produced 4,929.04 tons of copper concentrate with an annual average grade of 12.96% and a gold content of 11.75 (g/t)[85]. - The Group did not have any significant investments during the six months ended 30 September 2022[68].

Financial Performance - The Group's turnover for the quarter ended June 30, 2022, was approximately RMB 469.16 million, representing an increase of approximately 3.39% compared to the corresponding period in the previous fiscal year[7]. - Profit attributable to owners for the quarter was approximately RMB 62.67 million, while total comprehensive income attributable to owners was approximately RMB 73.65 million[9]. - Basic and diluted earnings per share for the quarter were approximately RMB 0.018[10]. - The Group recorded a gross profit of approximately RMB 158.70 million, with a gross profit margin of approximately 33.8%[15]. - Total comprehensive income for the period (net of tax) was approximately RMB 141.06 million, an increase from RMB 110.09 million in the previous year[16]. - The Group's profit before income tax was approximately RMB 127.28 million, compared to RMB 129.67 million in the previous year[15]. - Administrative expenses for the quarter increased to approximately RMB 32.14 million from RMB 23.26 million in the previous year[15]. - The Group's other income and gains amounted to approximately RMB 3.02 million, down from RMB 3.57 million in the previous year[15]. - The interest charge on bank borrowing for the Quarterly Period was RMB 3,864,000, significantly higher than RMB 1,323,000 in 2021[24]. Dividend and Shareholder Returns - The Board does not recommend the payment of any dividend for the Quarterly Period[11]. - No dividends were recommended for the Quarterly Period, consistent with the previous year[31]. Business Operations - The Group's turnover for the Quarterly Period increased by approximately 3.39% compared to the corresponding period in 2021, attributed to the mining operation business becoming a regular business[36]. - The blasting business experienced a decrease of about 37.45% due to indirect shutdowns of infrastructure projects caused by mine owners[36]. - Selling and distribution expenses decreased by approximately 88.93% compared to the corresponding period in 2021, as shipping costs related to the sale of explosives were recognized as cost of sales[37]. - The Group's wholly-owned subsidiary, Anhui Jinding Mining Co., Ltd., has entered a stable production period, achieving expected results and providing stable income[44]. - The Group will continue to focus on the production and sales of explosives for civilian use, aiming for sustainable and stable income[45]. - The company continues to focus on the production and sale of civil explosives, aiming to create stable revenue and greater returns for shareholders[47]. - The company aims to maintain a stable revenue stream through its mining operations and blasting services[47]. Shareholding Structure - As of June 30, 2022, Mr. Liu Fali holds 242,415,854 ordinary shares, representing approximately 6.81% of the total shareholding[50]. - The total number of shares held by parties to agreements to acquire interests in the company is 1,776,098,222, accounting for 49.91% of the total shareholding[51]. - Mr. Xiong Zeke has a controlled corporation interest of 80,811,927 shares, which is about 2.27% of the total shareholding[49]. - Ms. Ma Ye holds 126,005,000 ordinary shares, representing 3.54% of the total shareholding[51]. - Ms. Qin Chunhong has a controlled corporation interest of 34,024,908 shares, which is approximately 0.96% of the total shareholding[49]. - Mr. Ma Gangling holds 36,024,908 ordinary shares, representing 1.01% of the total shareholding[51]. - The company has a significant interest in shares held by directors and major executives, indicating strong insider confidence[48]. - The percentage of shareholding is calculated based on the number of issued shares as of June 30, 2022[53]. - As of June 30, 2022, Shiny Ocean holds 1,361,516,331 ordinary shares, representing approximately 38.26% of the total shareholding[57]. - Mr. Ma Suocheng has interests in 1,902,103,222 ordinary shares, accounting for 53.45% of the total shareholding[58]. - The company reported that Ms. Ma Xia holds 172,166,037 ordinary shares, which is about 4.84% of the total[58]. - Mr. Yang Tao is a beneficial owner of 274,919,268 ordinary shares, representing 7.73% of the total[59]. - Mr. Li Man owns 272,039,268 ordinary shares, which is approximately 7.64% of the total[59]. - Mr. Lv Wenhua holds 240,696,854 ordinary shares, accounting for 6.76% of the total[59]. - The total number of shares held by substantial shareholders indicates a concentrated ownership structure within the company[55]. - The report highlights the interests of various parties in the company, reflecting significant shareholding by the Ma family[58]. - The company is subject to regulatory requirements regarding the disclosure of shareholdings and interests under the SFO[55]. Corporate Governance - The quarterly report is unaudited but has been reviewed by the audit committee of the Company[18]. - The audit committee, consisting of three independent non-executive Directors, reviewed the Group's unaudited financial statements for the Quarterly Period[65]. - The Company has complied with the Corporate Governance Code throughout the Quarterly Period[65]. - During the Quarterly Period, neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company's listed shares, consistent with the previous year (2021: nil)[62]. - The Company adopted a share award scheme on July 8, 2019, to reward eligible participants for their contributions, but no share awards were granted during the Quarterly Period[62]. - In July 2021, the Company awarded a total of 27,069,000 shares to 56 eligible participants[62].

Financial Performance - The group recorded a total revenue of approximately RMB 1.63744 billion, a decrease of about 3.75% compared to the previous fiscal year[14]. - The company reported a decline in gross profit due to a significant increase in the purchase prices of key raw materials, ammonium nitrate and diesel, attributed to global economic fluctuations[8]. - Sales of explosives accounted for 48.74% of total revenue, while blasting services contributed 39.04%, and sales of refined minerals made up 12.22%[14]. - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[128]. - The company's distributable reserves as of March 31, 2022, were approximately RMB 574 million, compared to RMB 503 million as of March 31, 2021, indicating a year-over-year increase of about 14.1%[156]. Mining Operations - The mining business, which commenced full operations in August 2021, has provided a continuous and stable new revenue stream for the company[8]. - The company acquired Anhui Jinding Mining Co., Ltd. in October 2020, which has contributed to the company's revenue since the second quarter of the reporting year[12]. - The Huangtun project in Anhui Province has commenced commercial production, with an annual total output of 1 million tons (Mtpa)[35]. - The total ore processed during the same period was approximately 590,000 tons, resulting in the production of about 7,000 tons of copper concentrate, 146,000 tons of sulfide concentrate, and 9,600 tons of iron concentrate[45]. - The mining expenditure for the Huangtun Sulfur Iron Mine during the year was approximately RMB 180,869,000[52]. Dividends and Shareholder Returns - The company plans to pay a final dividend of HKD 0.01 per share, sharing the group's achievements with all shareholders[9]. - The board proposed a final dividend of HKD 0.010 per share, consistent with the previous year[31]. - The interim dividend declared for the six months ended September 30, 2021, was HKD 0.01 per share, consistent with the previous year's interim dividend[149]. - The board retains discretion to declare dividends based on factors such as current and future operations, cash flow, and market conditions[106]. Corporate Governance - The company has adhered to the corporate governance standards as per the GEM Listing Rules throughout the year[54]. - The board of directors consists of nine members, including six executive directors and three independent non-executive directors, ensuring effective oversight of the company's management and operations[56]. - The company has received annual confirmations of independence from all independent non-executive directors, affirming their status as independent individuals[65]. - The company conducted training for directors on business operations and relevant legislative changes throughout the year[68]. - The board is responsible for the overall risk management and internal control systems, which aim to manage rather than eliminate risks associated with achieving business objectives[94]. Employee and Director Compensation - The total remuneration for directors in the year amounted to approximately RMB 5,280,000, compared to RMB 2,530,000 in the previous year, representing an increase of 108.8%[76]. - The company's compensation policy is determined by the remuneration committee based on employee performance, qualifications, and capabilities[197]. - The remuneration of directors and senior management is decided based on the company's operational performance and individual performance[198]. Acquisitions and Investments - The group acquired a 25% stake in Inner Mongolia Shengli Zhongcheng Mining Co., Ltd. and a 27% stake in Tibet Tianren Mining Co., Ltd. to expand its operational scale[21]. - Recent acquisitions are expected to enhance operational capabilities and drive synergies, with an estimated impact of F million on annual revenue[128]. - The company is investing G million in R&D to develop new technologies aimed at improving efficiency and reducing costs[128]. Risk Management - The group has established risk management procedures that include risk identification, assessment, mitigation, and monitoring to provide reasonable assurance against significant errors, losses, or fraud[95][96][97]. - The board has reviewed the effectiveness of the internal control system and considers it sufficient for managing identified risks[100]. Community Engagement - The total charitable donations made by the group during the year amounted to RMB 2.44 million, a decrease from RMB 4.46 million in the previous year, reflecting a reduction of approximately 45%[158].

Financial Performance - The revenue for the nine months ended December 31, 2021, was approximately RMB 1,234.82 million, representing a decrease of approximately 8.19% compared to the same period in the previous fiscal year[7]. - The profit attributable to owners for the same period was approximately RMB 117.92 million[9]. - The total comprehensive income attributable to owners for the period was approximately RMB 121.07 million[9]. - The basic profit per share for the period was approximately RMB 0.033[10]. - The Group recorded a gross profit of RMB 382.94 million, down from RMB 477.51 million in the previous year[16]. - Operating profit for the period was RMB 253.05 million, a decrease from RMB 386.21 million in the previous year[16]. - The Group's profit before income tax was RMB 243.32 million, compared to RMB 381.55 million in the previous year[16]. - Profit attributable to owners of the Company for the nine months ended December 31, 2021, was RMB 117,917, down 37.4% from RMB 188,623 in 2020[38]. - The Group's gross profit decreased by 19.81% due to the rise in raw material prices, which outpaced the increase in sales price[52]. Revenue Breakdown - Revenue from the sale of explosives was RMB 315,080 for the nine months ended December 31, 2021, down from RMB 475,512 in 2020, representing a decline of 33.7%[25]. - Total revenue for the nine months ended December 31, 2021, was RMB 1,234,819, a decrease of 8.2% compared to RMB 1,344,939 for the same period in 2020[25]. - The total turnover for the three months ended December 31, 2021, was RMB 449,829, compared to RMB 606,217 for the same period in 2020, indicating a decrease of 25.9%[25]. Expenses and Taxation - The Group's operating expenses increased to RMB 111.94 million from RMB 82.90 million in the previous year[16]. - Selling and distribution expenses increased by 55.40% for the nine months ended December 31, 2021, mainly due to the growth in the mining business and rising diesel prices[39]. - The effective income tax rate for the Group's PRC subsidiaries with New and Hi-tech Enterprise recognition is 15%[28]. - The current tax for the period for Tajikistan corporate income tax was RMB 28,254 for the nine months ended December 31, 2021[32]. - The Group has no assessable profit in the Cayman Islands, BVI, or Hong Kong, resulting in no provision for profits tax in these jurisdictions[26]. - The Group's subsidiaries in the Tibet Autonomous Region of the PRC are entitled to preferential tax rates of 15% and 9% respectively[31]. Assets and Liabilities - As of 31 December 2021, the Group's net assets amounted to approximately RMB1,290.80 million, an increase from RMB1,167.27 million as of 31 March 2021[39]. - Current assets were approximately RMB1,261.24 million as of 31 December 2021, with cash and bank balances of approximately RMB397.32 million[39]. - The Group's current liabilities amounted to approximately RMB1,140.32 million as of 31 December 2021, compared to RMB1,028.37 million as of 31 March 2021[40]. - There were no significant investments or material acquisitions during the nine months ended 31 December 2021[42]. - As of 31 December 2021, certain property, plant, and equipment valued at RMB15,133,000 and mining rights valued at approximately RMB108,625,000 were pledged to secure bank loans[44]. Employment and Shareholding - The Group had 1,312 full-time employees as of 31 December 2021, an increase from 901 employees as of 31 March 2021[50]. - The Group awarded a total of 27,069,000 shares to 56 eligible participants under the Share Award Scheme to recognize contributions to the Group's operations[50]. Corporate Governance - The Company has complied with all code provisions of the Corporate Governance Practices throughout the review period[75]. - The audit committee reviewed the draft unaudited financial statements for the nine months ended December 31, 2021[85]. - The Board of Directors includes six executive directors and three independent non-executive directors as of the report date[86]. Shareholding Structure - As of December 31, 2021, Shiny Ocean holds 1,361,516,331 ordinary shares, representing 38.26% of the total shares[68]. - Mr. Ma Suocheng has interests in 1,902,103,222 ordinary shares, accounting for 53.45% of the total shares[69]. - Ms. Ma Xia owns 172,166,037 ordinary shares, which is 4.84% of the total shares[69]. - The total number of shares held by Ma Family Holdings Co. Limited is 1,361,516,331 ordinary shares, equivalent to 38.26%[68]. - The interests of any parties to an agreement to acquire shares in the company total 1,729,937,185 ordinary shares, representing 48.61%[69]. - Mr. Yang Tao holds 274,919,268 ordinary shares, which is 7.73% of the total shares[69]. - Mr. Li Man owns 272,039,268 ordinary shares, accounting for 7.64% of the total shares[69]. - The total equity interests of Fabulous Seeker Holdings Limited amount to 80,811,927 shares[63]. - Crystal Sky Development Inc. holds 34,024,908 shares, with equal ownership by Ms. Qin and her husband[64]. - Pin On Everest Asset Holdings Ltd. has an interest in 3,660,000 shares, fully owned by Mr. Ma Tianyi[64]. - As of December 31, 2021, Mr. Lyu Wenhua holds 240,696,854 ordinary shares, representing approximately 6.76% of the total issued shares[71]. - During the nine months ended December 31, 2021, the Company did not purchase, sell, or redeem any of its listed shares[73]. - For the nine months ended December 31, 2021, there were no significant competing interests reported among Directors or management shareholders[74]. Acquisitions and Investments - The acquisition of Anhui Jinding Mining Co., Ltd. has started to provide stable income to the Group since its acquisition in October 2020[52]. - On December 30, 2021, the Group completed the acquisition of a 27% equity interest in a mining company, expanding its industrial chain and mineral resources[52]. - The target company's business includes the mining of molybdenum and copper ore, flotation processing, and sales of non-ferrous metal products[52]. - The Group aims to create stable revenue streams by integrating the new mining operations with its existing business of selling civilian explosives and providing blasting operations[52].

Financial Performance - The Group's revenue for the six months ended 30 September 2021 was approximately RMB 784.99 million, representing an increase of approximately 6.26% compared to the corresponding period in the previous fiscal year[7]. - Profit attributable to owners for the Interim Period was approximately RMB 85.54 million[7]. - Total comprehensive income attributable to owners of the Company was approximately RMB 86.39 million for the Interim Period[7]. - Basic earnings per share for the Group was approximately RMB 0.024 for the Interim Period[7]. - The Group's profit before income tax for the six months ended 30 September 2021 was RMB 180.48 million, compared to RMB 249.87 million for the same period in 2020, indicating a decrease of 27.7%[32]. - The profit attributable to owners of the Company for the six months ended September 30, 2021, was RMB 85,535,000, down from RMB 121,720,000 in the same period of 2020, representing a decrease of approximately 30%[43]. - The company reported a profit for the period of RMB 86,586, compared to RMB 21,259 in the previous year, indicating a substantial increase in profitability[19]. - The company reported a total comprehensive income for the period of RMB 156,781, compared to RMB 70,790 for the same period last year, reflecting a growth of approximately 109.5%[19]. Dividends and Shareholder Returns - The Board recommended the payment of an interim dividend of HK$0.01 per share[7]. - The interim dividend proposed is HK$0.01 per share, consistent with the interim dividend for the six months ended September 30, 2020[43]. - The company paid dividends to non-controlling interests amounting to RMB 28,538 during the period, compared to RMB 29,588 in the previous year[19]. Assets and Liabilities - Current assets amounted to RMB 1,285.27 million, compared to RMB 1,043.30 million as of 31 March 2021[13]. - Current liabilities totaled RMB 1,057.10 million, compared to RMB 1,028.37 million as of 31 March 2021[13]. - Net current assets increased to RMB 228.17 million from RMB 14.92 million as of 31 March 2021[13]. - Total assets less current liabilities were RMB 1,965.14 million, compared to RMB 1,687.28 million as of 31 March 2021[13]. - As of September 30, 2021, total equity increased to RMB 1,300,526, up from RMB 1,167,267 as of March 31, 2021, representing an increase of approximately 11.4%[15]. - The company’s net assets rose to RMB 1,300,526 as of September 30, 2021, reflecting a strong financial position[15]. - The Group's current liabilities were approximately RMB 1,057.10 million, compared to RMB 1,028.37 million as of March 31, 2021[71]. - The gearing ratio as of September 30, 2021, was 31.93%, slightly down from 32.23% as of March 31, 2021, calculated from total debts of approximately RMB 964.92 million[74]. Cash Flow - Net cash generated from operating activities for the six months ended September 30, 2021, was RMB 108,193, a decrease of 39.2% compared to RMB 178,250 for the same period in 2020[22]. - Net cash used in investing activities was RMB 54,593 for the six months ended September 30, 2021, compared to RMB 99,545 in the prior year, indicating a reduction in cash outflow[22]. - Cash and cash equivalents at the end of the period increased to RMB 431,491, up from RMB 146,059 at the end of September 2020, marking a significant increase[22]. - The net cash used in financing activities was RMB 146,119, a significant increase from a net cash outflow of RMB 98,076 in the same period last year[22]. Segment Performance - Revenue from the sale of explosives was RMB 266.58 million, while blasting operations generated RMB 453.07 million, and mining operations contributed RMB 65.34 million for the same period[25]. - The segment profit from explosives trading and blasting services was RMB 192.40 million, while the mining operation segment reported a loss of RMB 463,000[32]. - The Group's external sales for the mining operation segment were RMB 65.34 million, while the bulk mineral trade segment did not report any external sales during the period[32]. - Segment revenue for the three months ended September 30, 2021, was RMB 314,649,000, compared to RMB 331,228,000 for the same period in 2020, reflecting a decrease of approximately 5%[35]. - The segment profit for the explosives trading segment for the three months ended September 30, 2021, was RMB 122,092,000, compared to a loss of RMB 298,000 in the previous year[35]. Operational Highlights - The Group operates primarily in the People's Republic of China, with business activities transacted in Renminbi (RMB)[24]. - The Group's business activities include manufacturing and sale of explosives, provision of blasting operations, and mining operations[24]. - The Group has identified three reportable operating segments: mining operation, explosives trading and blasting services, and bulk mineral trade[28]. - For the six months ended September 30, 2021, Anhui Jinding drilled 18 underground drillholes totaling 1,224.91 meters and commenced commercial production in July 2021[77]. - The processing plant processed a total of 186,307 tonnes of raw ore, producing 1,952.6 tonnes of copper concentrate with an average grade of 19.96%[78]. - A total of 50,315.7 tonnes of sulfur concentrate was produced at an annual average grade of 48.23%[78]. - The Group successfully expanded its business into the mining sector following the acquisition of Jinding Mining, which began commercial production in the second quarter[84]. - The Group aims to ensure the mining business operates at full capacity as soon as possible to achieve original production targets and maximize economic benefits for shareholders[84]. - The Group will continue to develop its civilian explosives business alongside the mining operations[84]. Corporate Governance - The interim financial statements were reviewed by the Audit Committee and approved by the board of directors on 12 November 2021[24]. - The company has complied with all code provisions as set out in the Code on Corporate Governance Practices throughout the review period[109]. - The audit committee, composed of three independent non-executive Directors, has reviewed and commented on the interim report for the six months ended September 30, 2021[115]. - The company has established an audit committee in compliance with GEM Listing Rules and code provisions[115]. - The company has maintained a consistent governance structure with independent oversight through its audit committee[117]. - The company has ensured compliance with securities transaction standards throughout the review period[114]. Shareholding Structure - As of September 30, 2021, Mr. Liu Fali held 242,415,854 ordinary shares, representing approximately 6.81% of the total shareholding[86]. - The total interests of parties to an agreement to acquire interests in the Company amounted to 1,659,687,368 ordinary shares, which is approximately 46.64% of the total shareholding[86]. - Ms. Ma Ye held 126,005,000 ordinary shares, representing approximately 3.54% of the total shareholding[89]. - The interests of Mr. Ma Suocheng and associated parties in the Company were disclosed under the Securities and Futures Ordinance, indicating significant shareholding concentrations[91]. - As of September 30, 2021, Shiny Ocean holds 1,361,516,331 ordinary shares, representing approximately 38.26% of the total shareholding[98]. - Mr. Ma Suocheng has interests in 1,902,103,222 ordinary shares, which accounts for 53.45% of the total shareholding[98]. - Ms. Ma Xia holds 172,166,037 ordinary shares, representing 4.84% of the total shareholding[99]. - The total number of issued shares of the Company as of September 30, 2021, is used to calculate the shareholding percentages[100]. - The entire issued share capital of Ma Family Holdings Co. Limited is owned by Equity Trustee Limited, which acts as a trustee for the Ma Family Trust[101]. - As of September 30, 2021, none of the Directors or chief executives had any interests or short positions in the shares of the Company that required disclosure[94]. - The shareholding percentages are calculated based on the number of issued shares as of September 30, 2021[93]. - Crystal Sky Development Inc. holds 34,024,908 shares, with Ms. Qin deemed to be interested in all shares due to ownership with her husband[5]. - Fabulous Seeker Holdings Limited has interests in 80,811,927 shares, fully owned by Mr. Xiong Zeke[4]. - Pin On Everest Asset Holdings Ltd holds 3,660,000 shares, with Mr. Ma Tianyi as the sole owner[6]. - As of September 30, 2021, the company had not been notified of any other person with a discloseable interest in shares, apart from the Directors or chief executive[103]. - During the six months ended September 30, 2021, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed shares[107]. - The company has not disclosed any significant changes in shareholding interests among the Directors or their associates as of September 30, 2021[106].

Financial Performance - The Group's turnover for the quarter ended 30 June 2021 was approximately RMB 453.76 million, representing an increase of approximately 7.00% compared to the corresponding period in the previous fiscal year[8]. - Profit attributable to Owners for the Quarterly Period was approximately RMB 65.49 million, while total comprehensive income attributable to Owners was approximately RMB 72.88 million[9]. - Basic and diluted earnings per share for the Group was approximately RMB 0.018 for the Quarterly Period[12]. - The Group recorded a gross profit of approximately RMB 162.97 million, with a gross profit margin of approximately 35.9%[16]. - The total comprehensive income for the period (net of tax) was approximately RMB 110.09 million, compared to RMB 114.73 million in the previous year[18]. - The Group's profit before income tax was approximately RMB 129.67 million, compared to RMB 132.72 million in the previous year[16]. - The Group's turnover for the Quarterly Period increased by approximately 7.00% compared to the same period in 2020, primarily due to reduced impact from the epidemic this year[42]. - Profit attributable to the owners of the Company for the Quarterly Period was RMB 65,490,000, compared to RMB 67,215,000 in 2020[40]. Revenue Sources - The Group's sales of civil explosives amounted to RMB 161.37 million, while the provision of blasting operations generated RMB 292.40 million in revenue[24]. - The Group's primary income source during the year came from civil explosive manufacturing and service business, which is expected to generate substantial and sustainable profit[44]. Expenses and Financial Management - The Group's administrative expenses decreased to approximately RMB 14.95 million from RMB 23.26 million in the previous year[16]. - Interest charges on bank borrowings were approximately RMB 1.33 million, down from RMB 1.83 million in the previous year[26]. Dividends - The Board does not recommend the payment of any dividend for the Quarterly Period[13]. - The Board does not recommend payment of any dividend for the Quarterly Period[37]. Corporate Governance - The company has complied with all code provisions set out in the Code on Corporate Governance Practices throughout the quarterly period[89]. - The company has adhered to the principles outlined in the Corporate Governance Code as per the GEM Listing Rules during the review period[93]. - A higher standard for directors' securities trading has been adopted, exceeding the requirements of the GEM Listing Rules, with no known non-compliance during the quarter[94]. - The Audit Committee has been established in accordance with the GEM Listing Rules, consisting of three independent non-executive directors, responsible for reviewing financial reporting and internal control processes[95]. - The unaudited financial statements for the quarter have been reviewed by the Audit Committee[96]. - The Board of Directors includes a mix of executive and independent non-executive directors, ensuring diverse governance[97]. Shareholding Structure - Mr. Liu Fali holds 240,415,854 ordinary shares, representing 6.76% of the total shareholding[55]. - The total number of shares held by parties to an agreement to acquire interests in the Company is 1,657,167,368, accounting for 46.57%[55]. - Ms. Ma Ye owns 124,005,000 ordinary shares, which is approximately 3.48% of the total[56]. - The total shares held by parties to an agreement to acquire interests in the Company amounts to 1,774,098,222, representing 49.85%[57]. - Mr. Xiong Zeke has an interest in 80,811,927 shares through a controlled corporation, equating to 2.27%[63]. - Ms. Qin Chunhong holds 34,024,908 shares, which is about 0.96% of the total[65]. - Mr. Ma Tianyi owns 3,660,000 ordinary shares, representing 0.10% of the total[55]. - The percentage of shareholding is calculated based on the number of issued shares of the Company as of June 30, 2021[59]. - The letter "L" denotes a long position in the shares or underlying shares of the Company[59]. - The Company has disclosed interests and short positions in shares under the Securities and Futures Ordinance (SFO)[68]. - Shiny Ocean holds 1,361,516,331 ordinary shares, representing approximately 38.25% of the total shareholding[70]. - Mr. Ma Suocheng has interests in 1,898,103,222 ordinary shares, accounting for 53.33% of the total shareholding[71]. - Ms. Ma Xia is a beneficial owner of 172,166,037 ordinary shares, which is 4.84% of the total shareholding[72]. - Mr. Yang Tao holds 274,919,268 ordinary shares, representing 7.73% of the total shareholding[74]. - The company did not purchase, sell, or redeem any of its listed shares during the quarterly period[81]. - A total of 27,069,000 awarded shares were granted to 56 eligible participants in July 2021[83]. Future Plans and Developments - Anhui Jinding obtained safety production licenses in July 2021 and plans to commence commercial production in the second financial quarter of 2021[49]. - The Group will continue to focus on the development of civil explosive business, mining engineering business, and mine development business[50]. Tax Incentives - Three PRC subsidiaries recognized as New and Hi-tech Enterprises are entitled to a preferential EIT rate of 15% for three years starting from their respective recognition dates[30]. - A Tajikistan subsidiary is exempt from Corporate Income Tax for five years until 2022 under an investment agreement with the Tajikistan government[30]. - The EIT rate in Lhasa, Tibet, is 9% for the years 2015 to 2021, resuming to 15% from 2022 unless further announcements are made[32].

Revenue and Business Operations - The group's main revenue comes from the production and sale of civil explosives and blasting services, showing steady growth compared to the previous year[8] - The company plans to continue developing its civil blasting business and mining engineering services, with a focus on expanding production bases in Inner Mongolia and Tajikistan[9] - The group aims to explore acquisition and merger opportunities to expand its market presence and enhance profitability[9] - The company intends to extend its industrial chain by developing metal mines, leveraging its experience in mining engineering[9] - The group will actively participate in tenders and seek new engineering opportunities in blasting operations and mining engineering services[9] - The group recorded a consolidated revenue of approximately RMB 1.701 billion, an increase of about 4.54% compared to the previous fiscal year[15] - Sales of explosive products accounted for 49.10% of total revenue, while blasting services contributed 50.90%[15] Financial Performance - The group recognized an impairment loss of approximately RMB 89,762,000 related to goodwill from the acquisition of a mining company, which is still in the development stage and has not yet commenced commercial production[8] - The group's earnings per share decreased primarily due to a one-time impairment loss of approximately RMB 89.76 million related to the acquisition of Anhui Jinding[18] - As of March 31, 2021, the group's equity was approximately RMB 1.167 billion, an increase from RMB 1.084 billion in the previous year[24] - The current assets were approximately RMB 1.043 billion, down from RMB 1.360 billion in the previous year, with cash and cash equivalents at approximately RMB 232.01 million[24] - The debt-to-asset ratio increased to 32.23% from 18.38% due to the acquisition of Anhui Jinding and the use of low-interest loans to enhance cash flow[25] Acquisitions and Mining Projects - The group completed the acquisition of 51% equity in Anhui Jinding in October 2020, with an investment of RMB 270 million[22] - The mining company acquired in October 2020 is expected to contribute significant profits once it commences production in the second quarter of the 2022 fiscal year[8] - The commercial production at the Huangtun Sulfur Iron Mine is planned to start in the third quarter of 2021[37] - The updated production plan includes mining rates of 400,000 tons per year for the copper-gold deposit and 600,000 tons per year for the sulfur iron deposit[38] - The estimated mineral resources at the Huangtun Sulfur Iron Mine include 25.7 million tons of inferred resources with 16.48% total sulfur and 10.12% total iron[41] - The estimated mineral resources in the East Zone are 9.3 million tons with a copper grade of 0.29% and gold grade of 0.86 g/t, translating to 26.5 thousand tons of copper and 8.0 tons of gold[46] - The inferred mineral resources in the West Zone are 3.9 million tons with a copper grade of 0.26% and gold grade of 0.92 g/t, resulting in 10.2 thousand tons of copper and 3.6 tons of gold[46] - The total probable ore reserves amount to 10.8 million tons, with the East Zone having a potential sulfur grade of 19% and the West Zone a copper grade of 0.7%[48] - The processing plant is designed to produce 1 million tons per annum (Mtpa) of ore, with a 90.41% annual operating rate, equating to 330 effective working days per year[53] - During trial production, 30,996 tons of ore were processed, yielding 262.5 tons of copper concentrate with a copper grade of 20.62%[54] - Exploration, development, and mining expenditures for the Huangtun Pyrite Mine totaled RMB 12,902 thousand for exploration and RMB 15,021 thousand for development in the reporting year[56] - The underground mining development system has been completed, with five underground levels constructed and two deeper levels currently under construction[52] - Commercial production is planned to commence in the third quarter of 2021[52] - The company has not conducted any mining activities during the reporting year[55] Corporate Governance - The company adheres to high standards of corporate governance, complying with the GEM Listing Rules and maintaining transparency in its operations[59] - The total remuneration for directors in the current year amounted to approximately RMB 2,530,000, compared to RMB 2,580,000 in the previous year[80] - The auditor's fees for providing audit and other services were approximately RMB 3,990,000 for the current year[83] - The board of directors held a total of 5 meetings during the year, with an average attendance rate of 100%[69] - The company has established a remuneration committee, which held one meeting during the year, with full attendance from its members[79] - The roles of the chairman and the CEO are separated, with Mr. Xiong Zekai serving as chairman and Mr. Liu Fali as CEO[76] - The company has received annual confirmations of independence from all independent non-executive directors, affirming their status as independent individuals[72] - The board is responsible for formulating the company's operational plans and investment proposals, as well as monitoring the execution of these plans[66] - The company encourages all directors to participate in relevant training courses, with costs covered by the group[72] - The board of directors is required to rotate one-third of its members at the annual general meeting, ensuring regular re-election[65] - The company has complied with the corporate governance code, including the separation of roles between the chairman and the CEO[77] - The audit committee held a total of 4 meetings during the year, with all members attending all sessions[87] - The audit committee reviewed the annual report and confirmed that the consolidated financial statements comply with applicable accounting standards and GEM Listing Rules[87] - The company has a dividend policy that allows the board to declare dividends based on factors such as current and future operations and profitability[97] - The board is responsible for the internal control system and has reviewed its effectiveness during the year[95] - The nomination committee did not hold any meetings during the year but is responsible for evaluating the board's structure and recommending suitable candidates[90] - The company emphasizes communication with investors and addresses their inquiries promptly[105] - The board diversity policy considers factors such as gender, age, and professional experience in appointing board members[106] - The company has established an audit committee to oversee the financial reporting process and internal control procedures[86] - The board retains the discretion to update or cancel the dividend policy at any time[100] - The company has confirmed that there are no significant uncertainties affecting its ability to continue as a going concern[85] - The company has achieved measurable goals for board diversity, ensuring at least one-third of board members are independent non-executive directors[109] - Shareholders holding at least 10% of the company's paid-up capital have the right to request a special general meeting within two months of submission[110] - The company maintains multiple communication channels with shareholders, including announcements and reports available on its website[115] - Good corporate governance is deemed essential for maintaining investor confidence and attracting investments[116] - The board includes members with over five years of industry experience and relevant professional qualifications[109] - The company has established procedures for shareholders to submit inquiries and proposals to the board[111][112] - The board is committed to enhancing corporate governance standards to strengthen investor trust[116] - The company has a dedicated investor relations team to facilitate ongoing communication with shareholders[115] - The board's composition includes members with academic qualifications and industry experience relevant to the company's operations[109] - The company has not reported any significant changes to its constitutional documents during the year[115] Shareholder Information - The company expanded its business into the mining sector following the acquisition of Anhui Jinding in October 2020[141] - The primary business remains investment holding, with no significant changes in the nature of the main business during the year[141] - The management discussion and analysis section provides a comprehensive review of the company's operations for the year[140] - The interim dividend for the six-month period ending September 30, 2021, is declared at HKD 0.01 per share, compared to HKD 0.005 per share for the same period in 2020[144] - The proposed final dividend for the year is also HKD 0.01 per share, consistent with the previous year[144] - The company's distributable reserves as of March 31, 2021, were approximately RMB 503 million, down from RMB 573 million as of March 31, 2020[151] - Charitable donations for the year totaled RMB 4.46 million, significantly increasing from RMB 1.76 million in 2020[153] - The company has not entered into any significant contracts with its controlling shareholders during the year[161] - As of March 31, 2021, the company's directors and senior management held a total of 80,811,927 shares (2.27%) and 11,813,333 shares (0.33%) respectively[169] - The board of directors includes the newly appointed CEO as of May 1, 2021, and the COO who was reassigned on the same date[155] - The company has not established any management contracts for its entire or most of its business with any directors or full-time employees during the year[160] - The company will suspend share transfer registration from September 20 to September 24, 2021, to determine shareholders eligible to attend the annual general meeting[145] - The company has received annual confirmations regarding the independence of its independent non-executive directors as per GEM listing rules[158] - The company reported a total of 1,898,103,222 shares held by major shareholders, representing 53.33% of the total issued shares[183] - Major shareholder Yao Yang holds 1,361,516,331 shares, accounting for 38.25% of the total issued shares[180] - Liu Fali holds 240,415,854 shares, which is 6.76% of the total issued shares[175] - The company has a significant concentration of ownership, with the top five shareholders controlling over 80% of the shares[183] - The total number of shares held by Ma Family Holdings Co. Limited is 1,361,516,331, representing 38.25% of the total[180] - The company has disclosed that the shareholding structure includes various trusts and family holdings, indicating a complex ownership arrangement[187] - The percentage of shares held by Ma Shao Cheng is 53.33%, indicating a strong influence in corporate decisions[183] - The company has a diverse shareholder base, with multiple individuals and entities holding significant stakes[180] - The total issued shares as of March 31, 2021, were used to calculate the ownership percentages[187] - The company is subject to the Securities and Futures Ordinance, which governs the disclosure of shareholdings[187] Share Incentive Plan and Remuneration - The company purchased a total of 30,680,000 shares under the share incentive plan at a total cost of approximately HKD 26,000,000 (equivalent to about RMB 22,000,000) during the year[198] - No securities were issued by the company during the year[189] - The company did not repurchase, sell, or redeem any of its listed shares during the year, except for the shares purchased under the share incentive plan[191] - The company's remuneration policy is determined by the remuneration committee based on employee performance, qualifications, and capabilities[194] - The remuneration of directors and senior management is decided based on the company's operational performance, individual performance, and comparable market statistics[195] - The company has adopted a share incentive plan to recognize and reward eligible participants for their contributions to the growth and development of the group[198] - As of March 31, 2021, no shares had been granted to participants of the share incentive plan, and all shares were held in trust[198] Articles of Association and Indemnity Provisions - The company’s articles of association do not contain provisions for preemptive rights[190] - The company’s indemnity provisions under its articles of association remain effective as of the report date[199] - Mr. Ma Tianyi was appointed as the Chief Executive Officer effective May 1, 2021[200]

Financial Performance - The Group's revenue for the nine months ended December 31, 2020, was approximately RMB 1,344.94 million, representing a decrease of approximately 11.98% compared to the same period in the previous fiscal year[7]. - Profit attributable to owners for the same period was approximately RMB 188.62 million[10]. - Total comprehensive income attributable to owners for the period was approximately RMB 172.74 million[11]. - Basic profit per share for the Group was approximately RMB 0.053 for the period[12]. - Gross profit for the nine months was approximately RMB 477.51 million, with a gross profit margin of approximately 35.5%[13]. - Operating profit for the nine months was approximately RMB 386.21 million, an increase from RMB 314.52 million in the previous year[13]. - Profit before income tax for the period was approximately RMB 381.55 million, compared to RMB 310.67 million in the previous year[13]. - The Group's total comprehensive income for the three months ended December 31, 2020, was approximately RMB 320.76 million[16]. - Basic and diluted earnings per share for the three months ended December 31, 2020, was RMB 0.019[16]. - The revenue for the nine months ended December 31, 2020, decreased by 11.98% to RMB 1,344,939,000 compared to RMB 1,527,960,000 for the same period in 2019[19]. - The total turnover for the three months ended December 31, 2020, was RMB 606,217,000, down from RMB 829,949,000 in the same period of 2019[19]. Expenses and Cost Management - Selling and distribution expenses decreased by 49.01% for the nine months ended December 31, 2020, primarily due to reduced sales of explosives[52]. - Administrative and other operating expenses decreased by 25.05% compared to the same period last year, attributed to lower production capacity adjustment expenses[53]. - Sales and distribution expenses decreased by 49.01% year-on-year, attributed to reduced sales of explosives and related freight costs[55]. Dividend and Shareholder Information - The Board does not recommend the payment of any dividend for the period[12]. - No dividend was recommended for the nine months ended December 31, 2020, consistent with the previous year[27]. - As of December 31, 2020, Mr. Liu Fali holds 240,415,854 ordinary shares, representing approximately 6.76% of the company's total shareholding[83]. - Mr. Liu Fali also has interests in 1,657,687,368 ordinary shares, which accounts for approximately 46.57% of the total[83]. - Ms. Ma Ye is a beneficial owner of 124,005,000 ordinary shares, equating to approximately 3.48% of the company's shares[86]. - The total number of shares held by parties to an agreement to acquire interests in the company is 1,774,098,222 ordinary shares, representing approximately 49.85%[86]. - Mr. Xiong Zeke has an interest in 80,811,927 ordinary shares, which is about 2.27% of the total[83]. - Ms. Qin Chunhong holds 34,024,908 ordinary shares, representing approximately 0.96% of the company's total shareholding[83]. - The percentage of shareholding is calculated based on the number of issued shares of the company as of December 31, 2020[88]. - The interests of Fabulous Seeker Holdings Limited in 80,811,927 shares are attributed to Mr. Xiong Zeke, who owns the entire issued share capital of the corporation[90]. - The shares held by Crystal Sky Development Inc. include 34,024,908 shares, which are equally owned by Ms. Qin and her husband[90]. - As of December 31, 2020, Shiny Ocean holds 1,361,516,331 ordinary shares, representing 38.25% of the total shareholding[97]. - Mr. Ma Suocheng has interests in 1,898,103,222 ordinary shares, accounting for 53.33% of the total shareholding[97]. - Ms. Ma Xia is a beneficial owner of 172,166,037 ordinary shares, which is 4.84% of the total shareholding[99]. - Mr. Yang Tao holds 274,919,268 ordinary shares, representing 7.73% of the total shareholding[99]. - Mr. Li Man owns 272,739,268 ordinary shares, which is 7.66% of the total shareholding[99]. - The report indicates no interests or short positions in shares by the Directors or chief executives as of December 31, 2020[94]. - The substantial shareholders and their interests are recorded under section 336 of the SFO[96]. - The company has a significant concentration of ownership, with the top shareholders holding over 50% of the shares[97]. Corporate Governance - The company has complied with all code provisions set out in the Code on Corporate Governance Practices throughout the review period[108]. - The audit committee, composed of three independent non-executive directors, has reviewed and commented on the draft unaudited financial statements for the nine months ended December 31, 2020[113]. - The company reported no competing interests among its directors or management shareholders that could significantly compete with the group's business during the nine months ended December 31, 2020[107]. - The company has adopted a code of conduct for directors' securities transactions that meets or exceeds the required standards of dealings[108]. - The company has established an audit committee to supervise financial reporting processes and internal control procedures[109]. - The board of directors includes executive and independent non-executive members, ensuring a diverse governance structure[113]. - The company has maintained compliance with the GEM Listing Rules throughout the review period[104]. Operational Impact and Future Outlook - The Group's operations were impacted by the epidemic, leading to reduced demand for explosives and blasting services due to indirect shutdowns of infrastructure projects[52]. - The Group successfully acquired 51% of Anhui Jinding Mining Co., Ltd. in October 2020, which is expected to enter formal production in the first half of 2021 after a trial production phase[80]. - The Group has no assessable profit in the Cayman Islands, BVI, or Hong Kong, resulting in no provision for profits tax in these jurisdictions[20]. - The effective income tax rate for the Group's operations in Tajikistan is 23% for non-goods production activities and 13% for goods production activities[20]. - As of December 31, 2020, the Group's net assets amounted to approximately RMB1,527.30 million, an increase of 41.0% from RMB1,084.38 million as of March 31, 2020[54]. - The Group's current assets were approximately RMB1,474.67 million, up from RMB1,359.87 million as of March 31, 2020, with cash and bank balances increasing to approximately RMB194.14 million from RMB165.18 million[56]. - The Group's current liabilities increased to approximately RMB1,080.00 million from RMB623.56 million as of March 31, 2020[56]. - Capital commitments for the acquisition of property, plant, and equipment amounted to RMB124.80 million as of December 31, 2020[66]. - The Group had no significant investments during the nine months ended December 31, 2020[60]. - The report does not disclose any new product developments or market expansion strategies[98]. - There are no mentions of future guidance or performance outlook in the provided content[98]. - As of December 31, 2020, the company had not purchased, sold, or redeemed any of its listed shares during the nine months ended, consistent with the same period in 2019[107].

Financial Performance - The Group's revenue for the six months ended 30 September 2020 was approximately RMB 738.72 million, representing an increase of approximately 5.83% compared to the corresponding period in the previous fiscal year[7]. - Profit attributable to owners for the Interim Period was approximately RMB 121.72 million[8]. - Total comprehensive income attributable to owners of the Company was approximately RMB 112.88 million for the Interim Period[8]. - Basic earnings per share for the Group was approximately RMB 0.034 for the Interim Period, an increase from RMB 0.025 in the previous year[16]. - Gross profit for the six months ended 30 September 2020 was approximately RMB 313.69 million, with a gross profit margin improvement compared to the previous year[14]. - Operating profit for the Interim Period was approximately RMB 253.05 million, up from RMB 171.81 million in the previous year[14]. - Profit before income tax for the Interim Period was approximately RMB 249.87 million, compared to RMB 169.89 million in the previous year[14]. - The Group's total comprehensive income for the period was RMB 207.01 million, an increase from RMB 154.24 million in the previous year[16]. - The company reported a net income for the period, although specific figures were not detailed in the provided content, indicating ongoing operational performance[34]. Dividends - The Board recommended the payment of an interim dividend of HK$ 0.01 per share[12]. - The interim dividend proposed after the end of the reporting period is HK$0.01 per share, consistent with the interim dividend for the six months ended September 30, 2019[62]. - The interim dividend recommended is HK$0.01 per share, an increase from HK$0.005 per share for the six months ended 30 September 2019[63]. Assets and Liabilities - As of September 30, 2020, the total assets less current liabilities amounted to RMB 1,260,792, an increase from RMB 1,144,358 as of March 31, 2020, reflecting a growth of approximately 10.1%[18]. - The net current assets were reported at RMB 847,906, compared to RMB 736,311 as of March 31, 2020, indicating an increase of about 15.2%[18]. - The total equity attributable to owners of the Company reached RMB 723,892, up from RMB 634,986, representing a growth of approximately 14%[23]. - Non-current liabilities, including borrowings and lease liabilities, remained stable with borrowings at RMB 45,000 and lease liabilities at RMB 7,089 as of September 30, 2020[20]. - The current liabilities totaled RMB 558,866, a decrease from RMB 623,557 as of March 31, 2020, indicating a reduction of about 10.4%[18]. - The total net assets increased to RMB 1,200,068 from RMB 1,084,378, reflecting a growth of around 10.7%[21]. Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2020, was RMB 178,250,000, compared to RMB 45,375,000 for the same period in 2019, representing a significant increase[35]. - The net cash used in investing activities was RMB (99,545,000) for the six months ended September 30, 2020, a decrease from RMB (227,078,000) in the same period of 2019, showing improved cash flow management[35]. - The net cash used in financing activities was RMB (98,076,000) for the six months ended September 30, 2020, compared to RMB 268,138,000 in 2019, indicating a reduction in financing outflows[35]. - Cash and cash equivalents at the end of the period were RMB 146,059,000, down from RMB 177,331,000 at the end of the same period in 2019, reflecting a decrease of approximately 17.6%[35]. - The effect of foreign exchange rate changes resulted in an increase of RMB 254,000 in cash and cash equivalents for the six months ended September 30, 2020[35]. Revenue Segmentation - Revenue from the sale of explosives reached RMB 298,870,000 for the six months ended September 30, 2020, compared to RMB 177,512,000 in 2019, indicating a growth of approximately 68.3%[38]. - The Group's revenue from the provision of blasting operations was RMB 439,852,000 for the six months ended September 30, 2020, compared to RMB 519,688,000 in 2019, indicating a decline of approximately 15.4%[38]. - Segment revenue for the six months ended September 30, 2020, was RMB 698,011,000, an increase from RMB 738,722,000 for the same period in 2019[47]. Operational Insights - The Group's principal activities include the manufacturing and sale of explosives and the provision of blasting operations, primarily in the People's Republic of China[36]. - The Group operates in two main segments: bulk mineral trade and explosives trading and blasting services, with operations in both the PRC and Tajikistan[41]. - The primary income source for the Group during the period was from sales of civil explosives and blasting services, which provided sustainable revenue[116]. - The Group plans to extend its industrial chain into non-ferrous and precious metals mining and development industries following the recent capital injection[118]. Employee and Management Information - As of September 30, 2020, the Group employed 633 full-time employees, an increase from 628 as of March 31, 2020[113]. - Remuneration paid to key management personnel for the period amounted to RMB1,014,000, a decrease from RMB1,410,000 in the same period last year[85]. - The Board of Directors includes Mr. Xiong Zeke as Chairman and Mr. Liu Fali as Chief Executive Officer[153]. Shareholding Structure - As of September 30, 2020, Mr. Liu Fali holds 240,415,854 ordinary shares, representing approximately 6.76% of the company's total shareholding[124]. - Mr. Liu Fali also has interests in an agreement to acquire 1,657,167,368 ordinary shares, which accounts for about 46.57% of the company's total shares[124]. - The total number of shares held by parties to an agreement to acquire interests in the company is 1,774,098,222 ordinary shares, representing about 49.85% of the total[127]. - The substantial shareholders include individuals and entities with interests exceeding 10% of the nominal value of the share capital[133]. Corporate Governance - The Company has complied with all code provisions set out in the Code on Corporate Governance Practices throughout the review period[145]. - The audit committee, composed of three independent non-executive Directors, has reviewed and commented on the interim report for the six months ended 30 September 2020[149]. - The report indicates compliance with the Securities and Futures Ordinance regarding the disclosure of interests[133].