Economic Environment - The global economic growth remained sluggish in 2024, posing challenges to the industry and the Group's operating environment[15]. - The Group anticipates a challenging operating environment in 2025, with reduced domestic consumer spending and lower demand for products and services[60]. Business Expansion and Investments - The Group actively expanded its customer base and drove product and service innovation to enhance market competitiveness[15]. - The Company obtained a mandate from shareholders to potentially dispose of up to 20,000,000 shares in Jade Bird Fire Co., Ltd. to lower borrowing levels and finance costs[16]. - The Company acquired a 49% equity interest in Chuanqi Culture Tourism for RMB98,880,187, increasing its ownership from 51% to 100%[28]. - The Board considers the acquisition of Chuanqi Culture Tourism a strategic opportunity to broaden the Group's operating income sources[29]. - The Group's investment holding business includes investments in private equity funds and a 25% equity interest in Shanghai Shengjin Venture Capital Co., Ltd. acquired for RMB106,690,000[35]. - Following the acquisition of Shanghai Shengjin, the Group's equity interest increased from 45% to 70%, consolidating its financial results into the Group[35]. - The company has conditionally agreed to acquire a 70% equity interest in Beijing Jade Bird Vocational Education Technology Development Co., Ltd. for RMB13,054,150, diversifying into the vocational education sector[58]. - The Group plans to diversify its investments into promising sectors such as travel, leisure, new materials, and semiconductor technology[125]. Financial Performance - The Group's total revenue for the year ended December 31, 2024, was approximately RMB499.0 million, a decrease of 11.9% compared to RMB566.4 million in 2023[68]. - The gross profit for the same period decreased by 54.2% to approximately RMB56.9 million, down from RMB124.4 million in 2023[68]. - Revenue from the tourism development business was approximately RMB114.4 million, representing a decrease of 38.9% from RMB187.4 million in 2023, primarily due to extreme weather conditions[61]. - Revenue from the sales and production of LED devices increased by 13.2% year-on-year to approximately RMB56.2 million, up from RMB49.6 million in 2023[65]. - Revenue from the trading of metallic products was approximately RMB319.4 million, a slight decrease of 0.4% from RMB320.6 million in 2023, with a gross margin of 1.8%[66]. - The Group recorded a profit attributable to the owners of approximately RMB99.3 million for the year ended 31 December 2024, representing a decrease of 49.1% year-on-year[91]. - The Group's share of profit of associates amounted to approximately RMB119.2 million for the year ended 31 December 2024, a decrease of 20.5% compared to RMB150.0 million in 2023[84]. - The Group's share of profit from joint ventures was approximately RMB163.4 million for the year ended 31 December 2024, a turnaround from a loss of RMB3.9 million in 2023[85]. Shareholder and Capital Management - The company has established a commitment to not sell shares without prior written approval, ensuring stability in shareholding[45]. - The company has obtained shareholder approval for a 12-month period to potentially sell up to 20,000,000 shares of Jade Bird Fire through public market transactions[46]. - The company has conditionally agreed to sell 44,900,000 shares of Jade Bird Fire, representing 7.49% equity, for RMB 1,101,846,000, with only 20% of the consideration paid by Mr. Cai[38]. - An outstanding balance of RMB 881,476,800 remains unpaid by Mr. Cai, leading to a supplemental agreement to amend payment terms[39]. - The company has requested the return of 58,370,000 shares of Jade Bird Fire and dividend income totaling RMB 33,899,500 due to the termination of the share transfer agreement[40]. - The company filed for arbitration to recover the shares from Mr. Cai following the termination of the share transfer agreement[41]. Operational Efficiency and Cost Control - The Group plans to implement cost control measures and improve operational efficiency to maintain profitability and competitive edge[60]. - The impairment loss on trade and other receivables was approximately RMB117.0 million, down from RMB144.3 million in 2023, reflecting ongoing assessments of expected credit losses[74]. - The Group's current ratio decreased to 1.06 as of 31 December 2024, down from 1.35 in 2023, indicating increased current liabilities[92]. - The gearing ratio increased to 25.0% as of 31 December 2024, compared to 23.3% in 2023, due to additional bank and other loans raised for business operations[92]. Employee and Management Information - The Group's workforce decreased by 6.0% to 600 employees by the end of the reporting year[137]. - The Company emphasizes maintaining good working relationships with employees and provides a competitive compensation package, including medical insurance and retirement contributions[140]. - The executive director team includes Ms. Zheng Zhong, who has extensive experience in the biotechnology sector and holds an MBA from Peking University[142][143]. - Mr. Wang Xingye, appointed as an executive director in May 2021, serves as the president of the Company and has been with the Company since March 2000[144][146]. - Ms. Guan Xueming, also appointed in May 2021, is the vice president and has a strong background in financial management and accounting[145][147]. Financial Position and Assets - As of December 31, 2024, the Group had cash and cash equivalents of approximately RMB 147.6 million, primarily denominated in RMB, HK$, and USD[116]. - The Group's net assets increased to approximately RMB 3,964.8 million in 2024, up from RMB 3,776.0 million in 2023[117]. - Total outstanding borrowings as of December 31, 2024, were approximately RMB 989.3 million, an increase from RMB 880.6 million in 2023[117]. - The Group's total assets amounted to approximately RMB 39.648 billion, an increase from RMB 37.760 billion in 2023[121]. Customer and Supplier Dependency - The revenue from the Group's largest customer accounted for approximately 22.9% of total revenue in 2024, down from 33.1% in 2023[193]. - Revenue from the Group's five largest customers represented approximately 53.3% of total revenue in 2024, compared to 58.7% in 2023[198]. - Costs incurred from the Group's largest supplier accounted for approximately 69.3% of total cost of sales and services in 2024, up from 67.2% in 2023[194]. - Costs from the Group's five largest suppliers made up approximately 76.0% of total cost of sales and services in 2024, an increase from 74.5% in 2023[198].

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 498,972,000, a decrease of 11.9% compared to RMB 566,375,000 in 2023[4] - Gross profit for the year was RMB 56,917,000, down 54.2% from RMB 124,380,000 in the previous year[4] - The net loss from operations was RMB 116,629,000, compared to an operating profit of RMB 104,378,000 in 2023[4] - The company reported a net profit of RMB 87,061,000 for the year, a decline of 51.3% from RMB 178,700,000 in 2023[4] - Basic and diluted earnings per share decreased to RMB 6.6 from RMB 12.9 in 2023, representing a decline of 48.8%[5] - Total comprehensive income for the year was RMB 164,722,000, slightly down from RMB 166,974,000 in the previous year[5] - The company reported a net loss of RMB 50,601,000 for the year ending December 31, 2023, compared to a loss of RMB 53,426,000 in the previous year, indicating an improvement of about 5.4%[10] - The company’s net profit for the year ended December 31, 2024, was RMB 99,305,000, a decrease of approximately 49.1% compared to RMB 195,207,000 in 2023[38] - The profit attributable to the owners of the company for the year ending December 31, 2024, was approximately RMB 99.3 million, a decrease of 49.1% from RMB 195.2 million in 2023[76] Assets and Liabilities - Total assets increased to RMB 5,516,277,000 from RMB 4,985,138,000, reflecting a growth of 10.7%[6] - Non-current liabilities rose significantly to RMB 514,365,000 from RMB 246,948,000, an increase of 108.3%[7] - The company's equity attributable to owners increased to RMB 3,709,800,000 from RMB 3,627,237,000, a growth of 2.3%[7] - The total equity as of December 31, 2023, was RMB 3,775,969,000, an increase from RMB 3,728,464,000, reflecting a growth of approximately 1.3%[10] - Non-current assets in China (excluding Hong Kong) increased to RMB 3,596,161 thousand in 2024 from RMB 3,363,705 thousand in 2023[31] - Trade receivables increased to RMB 168,602,000 in 2024 from RMB 156,986,000 in 2023, marking a rise of about 7.3%[40] - The company's trade payables rose to RMB 107,384,000 in 2024, up 15.9% from RMB 92,635,000 in 2023[42] Revenue Segments - The revenue from the metal products segment was RMB 319,389 thousand in 2024, slightly down from RMB 320,638 thousand in 2023[28] - The profit from the tourism development segment was RMB 51,996 thousand in 2024, compared to RMB 7,719 thousand in 2023, indicating a significant improvement[28] - Revenue from major customers contributing 10% or more to total revenue was RMB 179,189 thousand in 2024, down from RMB 302,820 thousand in 2023[32] - The LED devices segment generated revenue of RMB 56,166 thousand in 2024, an increase from RMB 49,619 thousand in 2023[28] - The revenue from the tourism development business for the year was approximately RMB 114.4 million, a decrease of 38.9% compared to RMB 187.4 million in the previous year, primarily due to extreme weather conditions[61] - The revenue from the sales and production of LED devices was approximately RMB 56.2 million, representing a year-on-year growth of 13.2% from RMB 49.6 million[63] - The revenue from the metal products trading business was approximately RMB 319.4 million, a slight decrease of 0.4% from RMB 320.6 million in the previous year, with a gross margin of 1.8%[64] - The winery business generated stable revenue of approximately RMB 9 million, compared to RMB 8.7 million in the previous year[65] Operational Challenges and Strategies - The company expects to face challenges in the operating environment due to a decline in local consumer spending and demand for its products and services, and will implement measures to monitor costs and improve operational efficiency[60] - The company plans to expand its market presence and invest in new product development, focusing on tourism and leisure sectors, as well as wine production and sales[12] - The company plans to explore potential beneficial investments to balance and diversify its investment portfolio, aiming to maximize shareholder value[60] Investments and Acquisitions - The company acquired a 49% stake in Legend Cultural Tourism for RMB 98,880,187, increasing its ownership from 51% to 100%[46] - Legend Cultural Tourism focuses on tourism projects in Hunan Province, including the Tianzi Mountain Fire Culture Park, enhancing the company's investment and development in tourism[46] - The company successfully acquired a 25% stake in Shanghai Shengjin Venture Capital for RMB 106,690,000, increasing its total stake from 45% to 70%[48] - The investment in Shanghai Shengjin aligns with the company's vision to invest in high-growth industries such as new materials and energy-saving technologies[48] - The company has agreed to acquire 70% of Qingniao Vocational Education Technology Development Co., Ltd. for RMB 13,054,150, diversifying its business into vocational education[59] Shareholder Activities - The company did not declare an interim dividend for the six months ending June 30, 2024, compared to a dividend of RMB 0.067 per share in 2023, totaling approximately RMB 101.5 million[39] - The company has obtained shareholder approval to potentially sell up to 20,000,000 shares of Qingniao Fire Protection within 12 months through public market transactions[53] - The company sold a total of 11,468,000 shares of Qingniao Fire Protection at a price per share ranging from RMB 12.06 to RMB 12.23, generating total cash proceeds of approximately RMB 139.1 million[55] - The company agreed to sell 44,900,000 shares of Qingniao Fire Protection, representing 7.49% of its equity, for RMB 1,101,846,000, with 20% of the payment made[49] - The company is seeking arbitration to recover shares and compensation from the buyer due to the failure to complete the share transfer agreement[51] Financial Reporting and Standards - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial performance for the current or prior periods[13] - The company is expected to adopt new or revised Hong Kong Financial Reporting Standards in the future, which are not anticipated to have a significant impact on its financial performance[15] - The company’s financial statements are prepared based on historical cost, except for certain financial instruments and biological assets measured at fair value[19] Miscellaneous - The company allocated RMB 201,000 to a safety production fund, reflecting its commitment to operational safety[11] - The number of visitors to the Hengshan scenic area decreased by approximately 18.0% year-on-year due to extreme weather conditions in the first half of 2024[44] - The expected credit loss assessment for unpaid consideration as of December 31, 2024, includes a default risk of RMB 881,476,800 and a default loss rate of 29.6%[68] - The loss from the partial disposal of an associate company amounted to approximately RMB 5.2 million for the year ending December 31, 2024, compared to RMB 23.3 million in 2023[69] - The group recognized a gain of approximately RMB 365.5 million from the sale of shares in the associate company, Qingniao Fire Protection, completed in May 2023[70] - The group's share of profits from associates decreased by 20.5% to approximately RMB 119.2 million for the year ending December 31, 2024, down from RMB 150 million in 2023[73] - The group's share of profits from joint ventures turned from a loss of RMB 3.9 million in 2023 to a profit of approximately RMB 1.634 billion for the year ending December 31, 2024[74] - Income tax expenses for the year were approximately RMB 35.4 million, an increase from RMB 17.9 million in 2023[75] - The current ratio as of December 31, 2024, was 1.06, down from 1.35 in 2023, indicating a decline in short-term liquidity[77] - The financing costs for the year were approximately RMB 43.4 million, a decrease from RMB 53.9 million in 2023[72] - The executive directors include Ms. Zheng, Mr. Wang, and Ms. Guan, while Mr. Liu serves as a non-executive director[84] - Independent non-executive directors include Mr. Tang, Mr. Shen, and Ms. Liu[84] - The announcement will be available on the Hong Kong Stock Exchange website for at least seven days[84] - The company's website will also host the announcement for public access[84]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 214,841,000, a decrease of 6.0% compared to RMB 229,644,000 in the same period of 2023[6] - Gross profit for the same period was RMB 31,810,000, down 32.6% from RMB 47,181,000 in 2023[6] - Loss from operations was RMB 11,923,000, compared to a profit of RMB 341,124,000 in the previous year[6] - Loss for the period was RMB 14,690,000, a significant decline from a profit of RMB 377,879,000 in 2023[6] - Total comprehensive income for the period was RMB 12,247,000, down from RMB 386,244,000 in the same period last year[8] - Basic and diluted loss per share was (0.40) cents, compared to earnings of 24.91 cents per share in 2023[8] - Share of profit of associates was RMB 22,859,000, down from RMB 71,277,000 in 2023[6] - The Group reported a loss for the period of RMB 6,049,000 for the six months ended June 30, 2024, compared to a profit of RMB 377,275,000 in the same period in 2023[43] Assets and Liabilities - Total assets increased to RMB 5,475,259,000 as of June 30, 2024, up from RMB 4,985,138,000 at the end of 2023, representing a growth of approximately 9.8%[9] - Current liabilities increased to RMB 1,103,316,000, up from RMB 962,221,000, reflecting a rise of approximately 14.7%[10] - Net current assets decreased to RMB 209,975,000 from RMB 334,297,000, indicating a decline of about 37.2%[10] - Total equity reached RMB 3,906,608,000, an increase from RMB 3,775,969,000, representing a growth of approximately 3.5%[10] - Trade and other payables surged to RMB 443,696,000 from RMB 252,174,000, reflecting an increase of approximately 76.0%[10] - The Group's total liabilities under financial guarantees issued to a bank amounted to RMB 100,000,000 as of June 30, 2024, unchanged from December 31, 2023[66] Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2024, was RMB 155,028,000, compared to a cash outflow of RMB 94,637,000 in the same period of 2023[12] - The company reported a net cash outflow from investing activities of RMB 189,609,000 in 2024, a significant decrease from a cash inflow of RMB 286,155,000 in 2023[12] - Financing activities generated net cash of RMB 54,126,000 in 2024, compared to a cash outflow of RMB 46,172,000 in 2023[12] - The total cash and cash equivalents at the end of the period were RMB 176,155,000, down from RMB 370,325,000 at the end of the same period in 2023[12] Segment Performance - Revenue from metallic products sales was RMB 128,573,000, showing an increase from RMB 126,343,000 in 2023[16] - Revenue from shuttle bus services was RMB 56,187,000, with no prior year comparison provided[16] - Segment profit for the tourism development segment was RMB 5,821,000, while the investment holding segment reported a profit of RMB 19,727,000, and the trading of metallic products segment had a profit of RMB 1,867,000[27] - Revenue from the Group's tourism development business was approximately RMB56.4 million, a decrease of 24.7% from RMB74.9 million in 2023, primarily due to extreme weather conditions[79] - Revenue from the sales and production of LED devices increased by 6.1% year-on-year to approximately RMB25.6 million, compared to RMB24.2 million in 2023[79] - Revenue from the trading of metallic products amounted to approximately RMB128.6 million, representing a year-on-year increase of 1.8% from RMB126.3 million[79] Investments and Acquisitions - The company acquired a 25% equity interest in Shanghai Shengjin Venture Capital Co., Ltd. for RMB 106,690,000, resulting in a total ownership of 70% post-acquisition[60] - The fair value of identifiable net assets acquired from Shanghai Shengjin was RMB 424,481,000, with goodwill recognized at RMB 569,000[61] - The Group's investment holding business includes investments in private equity funds focused on semiconductor materials and display devices, as well as financial assets at FVTOCI and FVTPL[69] - The Group's investment in Jade Bird Fire Co., Ltd. involved the sale of 44,900,000 shares for RMB 1,101,846,000, representing 7.49% of equity interests, completed on May 5, 2023[71] - The company has conditionally agreed to acquire 70% equity interest in Beijing Jade Bird Vocational Education Technology Development Co., Ltd. for RMB 13,054,150, diversifying into the vocational education sector[75] Corporate Governance - The Company has complied with all code provisions of the Code on Corporate Governance Practices during the six months ended June 30, 2024[102] - The Audit Committee, comprising three independent non-executive Directors, reviewed the Group's interim report for the six months ended June 30, 2024, and agreed on its contents[102] - The Company has established the Audit Committee in compliance with GEM Listing Rules[102] Market Outlook - The outlook for the second half of 2024 indicates continued sluggish global growth, presenting challenges for the industry and the group's operating environment[76] - The Group expects to benefit from the optimistic future prospects of the display devices and optoelectronic products market[83]

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of RMB 214,841,000, a decrease of 6.4% compared to RMB 229,644,000 for the same period in 2023[2] - The gross profit for the period was RMB 31,810,000, down 32.7% from RMB 47,181,000 in the previous year[2] - The operating loss for the period was RMB 11,923,000, compared to an operating profit of RMB 341,124,000 in the same period last year[2] - The net loss attributable to the company for the period was RMB 14,690,000, a significant decline from a profit of RMB 377,879,000 in the prior year[3] - The company reported a basic and diluted loss per share of RMB (0.40) for the period, compared to earnings of RMB 24.91 per share in the same period last year[3] - The company reported a total comprehensive income of RMB 385,594 thousand for the period, compared to RMB 377,275 thousand in the previous year, reflecting a growth of 2.1%[7] - The company reported a pre-tax loss of RMB 12,563 thousand for the six months ended June 30, 2024, compared to a pre-tax profit of RMB 388,045 thousand for the same period in 2023[15] - The company reported a loss of RMB 6,049,000 for the six months ended June 30, 2024, compared to a profit of RMB 377,275,000 for the same period in 2023[24] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 5,475,259,000, an increase from RMB 4,985,138,000 as of December 31, 2023[4] - The company's total liabilities increased to RMB 1,103,316,000 from RMB 962,221,000 at the end of the previous year[4] - The net asset value of the company as of June 30, 2024, was RMB 3,906,608,000, up from RMB 3,775,969,000 at the end of 2023[5] - The company’s total equity as of June 30, 2024, was RMB 3,642,005 thousand, an increase from RMB 3,557,568 thousand at the beginning of the period[7] - The company’s total liabilities increased to RMB 443,696,000 as of June 30, 2024, from RMB 252,174,000 as of December 31, 2023[27] Cash Flow - The company’s cash and cash equivalents stood at RMB 176,155,000, an increase from RMB 156,494,000 at the end of 2023[4] - The net cash generated from operating activities for the six months ended June 30, 2024, was RMB 155,028 thousand, compared to a net cash used of RMB (94,637) thousand in the same period of 2023[8] - The company incurred a net cash used in investing activities of RMB (189,609) thousand, a significant decrease from RMB 286,155 thousand in the same period of 2023[8] - The company’s financing activities generated a net cash inflow of RMB 54,126 thousand, compared to a net cash outflow of RMB (46,172) thousand in the same period of 2023[8] Revenue Segmentation - The sales of metal products generated RMB 128,573 thousand in revenue, representing a slight increase of 1.9% from RMB 126,343 thousand in the previous year[11] - Revenue from external customers for the six months ended June 30, 2024, was RMB 214,841 thousand, a decrease of 6.4% compared to RMB 229,644 thousand for the same period in 2023[15] - Segment profit for the tourism development segment was RMB 5,821 thousand, while the LED production segment reported a loss of RMB 6,614 thousand[15] - The investment holding segment contributed a significant profit of RMB 398,823 thousand, indicating strong performance in this area[15] - As of June 30, 2024, the tourism development business generated revenue of approximately RMB 56.4 million, a decrease of 24.7% compared to RMB 74.9 million in the same period of 2023, primarily due to extreme weather conditions[42] - Revenue from the sales and production of LED devices was approximately RMB 25.6 million for the six months ended June 30, 2024, representing a year-on-year growth of 6.1% from RMB 24.2 million in 2023[44] - Revenue from the metal products trading business was approximately RMB 128.6 million for the six months ended June 30, 2024, an increase of 1.8% from RMB 126.3 million in 2023, with a gross margin of 2.1%[45] - The winery business generated stable revenue of approximately RMB 4.3 million for the six months ended June 30, 2024, compared to RMB 4.2 million in 2023[46] Investments and Acquisitions - The company acquired a 25% stake in Shanghai Shengjin Venture Capital Co., Ltd. for RMB 106,690,000, increasing its ownership to 70%[29] - The company plans to acquire 70% of Beijing Qingniao Vocational Education Technology Development Co., Ltd. for RMB 13.05 million, aiming to diversify into the vocational education sector[40] - The investment holding segment's total assets increased by 8.9% to approximately RMB 4.0703 billion as of June 30, 2024, up from RMB 3.7382 billion in 2023, attributed to the consolidation of Shanghai Shengjin's financial performance after acquiring a 25% stake[43] Employee and Operational Metrics - The group employed 615 staff members at the end of the reporting period, a decrease of 3.6% compared to the end of 2023[65] - Employee costs, including director remuneration and retirement benefits, amounted to approximately RMB 32.9 million for the six months ended June 30, 2024, compared to RMB 34.5 million in 2023[65] - The group has pledged fixed assets and investment properties as collateral for bank and other loans, with investment properties valued at approximately RMB 384.1 million as of June 30, 2024[64] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, is responsible for overseeing the financial reporting system and risk management[76] - The company has adopted a code of conduct regarding securities trading by directors, which complies with the standards set forth in the GEM Listing Rules[75] - The group strictly adheres to applicable labor laws and regulations, ensuring competitive compensation packages for employees[65] - The group emphasizes the importance of maintaining good working relationships with employees as a key asset[65]

Impairment Loss - The company recorded an impairment loss of approximately HKD 144.3 million related to the sale of 7.96% equity in Qingniao Fire Protection[6]. Unpaid Consideration - As of December 31, 2023, the unpaid consideration balance for the equity transfer agreement was RMB 881,476,800, with only 20% paid[2]. Expected Credit Loss Assessment - The expected credit loss assessment for the unpaid consideration was based on a default probability of 100% and a loss rate of 16.37%[7]. - There were no changes in the valuation methods or input data used for the expected credit loss assessment compared to the previous fiscal year[7]. - The company is required to recognize expected credit loss provisions in accordance with Hong Kong Financial Reporting Standards[2].

Financial Performance - For the year ended December 31, 2023, the Group's total revenue amounted to approximately RMB566.4 million, representing an increase of 105.1% compared to RMB276.2 million in 2022[11]. - The gross profit for the same period increased by 224.1% to approximately RMB124.4 million, up from RMB38.4 million in 2022[11]. - Revenue generated from the Group's trading of metallic products business amounted to approximately RMB320.6 million, representing an increase of 117.8% year-on-year from RMB147.2 million in 2022[11]. - Revenue from the tourism development business recorded approximately RMB187.4 million, an increase of 116.3% compared to RMB86.6 million in 2022, mainly due to the relaxation of government policies related to the Epidemic[7]. - Revenue generated from Guangdong Lumen amounted to approximately RMB49.6 million, an increase from RMB32.7 million in 2022[11]. - Revenue from the production and sales of wine and related products amounted to approximately RMB8.7 million, down from RMB9.6 million in 2022, which is insignificant to the Group's total revenue[11]. - Profit attributable to owners of the Company decreased by 41.4% to approximately RMB195.2 million in 2023, down from RMB333.4 million in 2022[16]. Assets and Liabilities - The segment total assets of the investment holding business increased by 0.3% to approximately RMB3,738.2 million as of December 31, 2023, compared to RMB3,725.2 million in 2022[11]. - The Group's net assets as of December 31, 2023, were approximately RMB 3,776.0 million, an increase from RMB 3,728.5 million in 2022[62]. - Total outstanding borrowings as of December 31, 2023, were approximately RMB 880.6 million, down from RMB 943.5 million in 2022[62]. - The Group's retained earnings as of December 31, 2023, were approximately RMB 622.1 million, significantly up from RMB 128.3 million in 2022[28]. Financial Risks - The Group faced various financial risks, including foreign exchange risk, price risk, credit risk, liquidity risk, and interest rate risk, with limited exposure to currency risk due to most transactions being denominated in RMB[44][48]. - The Group's credit risk is considered low due to good cooperation with customers and high credit ratings of major counterparties[37]. - The Group's impairment loss on trade and other receivables increased significantly to approximately RMB210.7 million in 2023, compared to RMB35.9 million in 2022[16]. Operational Performance - The overall business environment is expected to remain challenging in 2024 due to continued low global economic growth[4]. - The Group plans to continue monitoring risks and strengthening internal management while cautiously exploring new business areas and investment opportunities[4]. - The Group's strategies to address operational risks include enhancing quality control, strict cost control, and diversification[24]. Governance and Management - The Supervisory Committee is responsible for monitoring the company's operations and management, preventing abuse of power and protecting shareholder interests[112]. - The company emphasizes the importance of independence in its governance structure, particularly for non-executive directors[104]. - The financial controller has over 25 years of experience in finance and accounting, enhancing the company's financial governance[118]. - The investment manager has been with the company since 2005, indicating stability in management[116]. Shareholder Information - The Company has distributable reserves of approximately RMB605.8 million in capital reserve and RMB86.7 million in statutory reserve funds as of December 31, 2023[93]. - The interests of Directors, Supervisors, and chief executives in the shares of the Company are recorded in the register maintained by the Company[1]. - All independent non-executive Directors confirmed their independence as per GEM Listing Rules[1]. Environmental and Social Responsibility - The Group is committed to maintaining high environmental standards and complies with relevant laws and regulations in its operations[49][52]. - A separate environmental, social, and governance (ESG) report will be available by the end of April 2024[187].

Financial Performance - The profit attributable to the company's owners decreased by 41.4% to approximately RMB 195.2 million, down from RMB 333.4 million in 2022, mainly due to the absence of gains from the partial sale of a joint venture [4]. - The company reported a net profit of RMB 178,700 thousand for the year, down from RMB 319,669 thousand in 2022, reflecting a decrease of 44% [58]. - The company reported a net profit attributable to owners of the company of RMB 188,152,000, down from RMB 406,456,000 year-over-year, representing a decrease of approximately 53.8% [74]. - The company's total profit for the year ended December 31, 2023, was RMB 195,207,000, a decrease from RMB 333,383,000 in 2022, representing a decline of approximately 41.5% [116]. - The company's total profit before tax for 2023 was RMB 196,635,000, compared to RMB 317,657,000 in 2022, reflecting a decrease of 38% [100]. Revenue Growth - Total revenue for the group reached approximately RMB 566.4 million, an increase of 105.1% from RMB 276.2 million in 2022, with gross profit rising 224.1% to approximately RMB 124.4 million [21]. - Revenue from the tourism development business for the year was approximately RMB 187.4 million, a significant increase of 116.3% from RMB 86.6 million in 2022, driven by the relaxation of pandemic restrictions [18]. - Revenue from the metal products trading business reached RMB 320,600,000, a 117.8% increase from RMB 147,200,000 in the previous year, driven by increased orders post-pandemic [53]. - The company generated RMB 144,364,000 from tourism and leisure services in 2023, compared to RMB 86,609,000 in 2022, reflecting a growth of approximately 66.6% [93]. - Revenue from the Chinese market (excluding Hong Kong) reached RMB 550,855,000 in 2023, up from RMB 266,539,000 in 2022, representing a growth of 106% [104]. Asset and Liability Management - The total assets of the investment holding business increased by 0.3% to approximately RMB 3.7382 billion, compared to RMB 3.7252 billion in 2022 [19]. - Total assets decreased to RMB 4,985,138 thousand in 2023 from RMB 5,020,879 thousand in 2022, a reduction of 0.7% [67]. - The company's cash and cash equivalents stood at RMB 156,494 thousand, down from RMB 227,690 thousand in 2022, indicating a decline of 31.3% [67]. - As of December 31, 2023, total equity amounted to RMB 3,775,969,000, an increase from RMB 3,728,464,000 at the beginning of the year, reflecting a growth of approximately 1.3% [74]. - The total assets of the company as of December 31, 2023, were RMB 4,985,138,000, compared to RMB 5,020,879,000 in 2022, showing a slight decrease of 0.7% [102]. Impairment and Losses - Trade and other receivables impairment losses increased significantly to approximately RMB 214.7 million, primarily due to losses related to the partial sale of a joint venture [22]. - The company recognized a loss of approximately RMB 23.3 million from the partial disposal of an associate company, Qingniao Fire, due to the issuance of new shares under its share incentive and stock option plan for the year ended December 31, 2023, compared to a gain of RMB 220.2 million in 2022 [24]. - The company incurred a loss of approximately RMB 29.5 million from the sale of a 40% stake in Hengsheng Fund for the year ended December 31, 2023, with no losses recorded in 2022 [26]. - The company recorded a goodwill impairment loss of RMB 34,847,000 in 2023, which was not present in 2022 [115]. - The company reported a significant impairment loss on trade and other receivables amounting to RMB (210,678) thousand, compared to RMB (35,945) thousand in 2022 [58]. Financing and Costs - Financing costs amounted to approximately RMB 53.9 million, an increase from RMB 34.8 million in 2022, primarily due to interest on bank loans and lease liabilities [27]. - The interest expense on financial liabilities not measured at fair value totaled RMB 60,338,000 in 2023, up from RMB 51,711,000 in 2022, indicating an increase of approximately 16.5% [115]. - The company has secured a new long-term bank loan agreement amounting to RMB 198,000,000 to support its financing needs [92]. - Management expects to renew loans totaling RMB 424,000,000, which are due shortly after the reporting date, based on ongoing negotiations [87]. - The company plans to explore additional financing channels as necessary to ensure sufficient cash resources for operations [92]. Strategic Initiatives - The company is focused on expanding its tourism and leisure business, as well as its investments in wine production and sales, indicating a strategic shift towards growth sectors [76]. - The company continues to focus on the research, production, and sales of high-end ceramic high-power LED devices through its subsidiary Guangdong Xinxing [47]. - The company plans to monitor risks and strengthen internal management while cautiously exploring new business areas and investment opportunities [50]. - The company agreed to sell 44,900,000 shares of Qingniao Fire Protection, representing 7.49% equity, for RMB 1,101,846,000, with the transaction approved by shareholders [42]. - The company invested HKD 40,000,000 in a closed-end independent investment portfolio focusing on distressed assets in Hong Kong, aiming to diversify its investment portfolio [45].

Financial Performance - Revenue for the nine months ended September 30, 2023, reached RMB 372,959,000, a significant increase of 78.2% compared to RMB 209,295,000 in the same period of 2022[14] - Gross profit for the same period was RMB 82,517,000, up 105.6% from RMB 40,118,000 year-over-year[14] - Profit for the period attributable to owners of the company was RMB 59,780,000, compared to RMB 55,697,000 in the previous year, reflecting a growth of 3.8%[14] - Earnings per share for the nine months was 28.77 cents, compared to 8.10 cents in the same period last year, indicating a substantial increase[4] - Total comprehensive income for the period was RMB 52,287,000, down from RMB 63,290,000 in the previous year, representing a decrease of 17.5%[4] - The company reported a gross profit margin of 22.1% for the nine months ended September 30, 2023, compared to 19.2% in the same period of 2022[14] - Other gains and income for the nine months were RMB 20,569,000, an increase from RMB 13,911,000 in the previous year, reflecting enhanced operational efficiency[14] - The company reported a total comprehensive income for the period of RMB 131,067,000 for the nine months ended September 30, 2023[27] - The profit from operations was approximately RMB 374.0 million, compared to a loss from operations of approximately RMB 1.8 million for the corresponding period in 2022[85] Expenses and Costs - Administrative expenses decreased to RMB 53,224,000 from RMB 50,830,000 year-over-year, showing improved cost management[14] - The Group's finance costs for the three months ended September 30, 2023, amounted to RMB 12,759,000, compared to RMB 10,226,000 in the same period of 2022, indicating an increase of 15.0%[57] - Financial guarantee income showed a loss of RMB 2,940,000 for the nine months ended September 30, 2023, compared to an income of RMB 7,154,000 in the same period of 2022[57] Equity and Share Capital - As of September 30, 2023, the total equity of Beijing Beida Jade Bird Universal Sci-Tech Company Limited was RMB 4,148,995,000, reflecting an increase from RMB 3,728,464,000 as of January 1, 2023[27] - The company’s share capital remained at RMB 151,446,000 as of September 30, 2023[27] - The company’s retained profits as of September 30, 2023, were RMB 171,934,000, showing a slight increase from previous periods[27] - The company’s foreign currency translation reserve was RMB 79,076,000 as of September 30, 2023[27] - The company’s capital reserve was RMB 605,810,000 as of September 30, 2023[27] Investments and Disposals - The company experienced a loss on disposal of an associate amounting to RMB 31,966,000 during the nine months[14] - The share of profits from associates was RMB 118,525,000, down from RMB 151,129,000 in the previous year, indicating a decline of 21.6%[14] - The company reported a gain of RMB 17,610,000 from the disposal of a subsidiary during the nine months ended September 30, 2023[57] - The Group recognized a gain of approximately RMB 365.5 million from the partial disposal of its equity interests in Jade Bird Fire for the nine months ended September 30, 2023[65] - The Group disposed of its 40% equity interest in Beijing Jade Bird Hengsheng Investment Fund for RMB 15,484,000, resulting in a loss on disposal of approximately RMB 32.0 million[86] Revenue Sources - Revenue from the sale of metallic products reached RMB 72,936,000 for the three months ended September 30, 2023, an increase of 10.0% compared to RMB 66,274,000 in the same period of 2022[39] - The Group's revenue from the sale of LED devices was RMB 13,425,000 for the three months ended September 30, 2023, up from RMB 9,017,000 in the same period of 2022, representing a growth of 48.5%[39] - For the nine months ended September 30, 2023, revenue from the Group's trading of metallic products amounted to approximately RMB 199.3 million, representing an increase of 86.5% year-on-year compared to RMB 106.8 million in 2022[66][68] - Revenue from the Group's tourism development business for the nine months ended September 30, 2023 was approximately RMB 129.4 million, representing an increase of 74.9% compared to RMB 74.0 million in the corresponding period of 2022[86] - Revenue generated from Guangdong Lumen amounted to approximately RMB 37.6 million for the nine months ended September 30, 2023, compared to RMB 21.0 million in 2022[93] - Revenue from the winery, The Winery at la Grange, was approximately RMB 6.6 million for the nine months ended September 30, 2023, down from RMB 7.4 million in 2022[93] Dividends - An interim dividend of RMB 0.067 per ordinary share was proposed for the six months ended June 30, 2023, amounting to approximately RMB 101.5 million[84] - The board does not recommend any further interim dividend for the nine months ended September 30, 2023[109] - The interim dividend will be payable in RMB to holders of non-listed shares and in HKD to holders of H shares[109] Economic Outlook and Strategy - The Group plans to closely monitor the pace of China's economic recovery and assess its impact on business performance and investment opportunities[73] - The Company is exploring investment projects with promising development potential to expand its income sources[73] - The Group expects China's economy to rebound as mobility and activity pick up after the lifting of Epidemic restrictions, positively impacting the performance of its tourism development business[93] - The company will continue to adopt a prudent approach in exploring investment projects[110] Shareholder Interests - As of September 30, 2023, Rainbow Mountain Holdings Limited holds 85,000,000 shares, representing a 12.14% interest in the company[104] - Cai Yiwen, through controlled corporations, holds 115,000,000 shares, accounting for a 16.43% interest in the company[104] - The interests of directors and supervisors in the company's shares include a 29.34% interest held by Ms. Zhou Min[112] - The company has a total of 205,414,000 shares held through the Heng Huat Trust, benefiting over 300 employees[113] - The total number of issued shares includes both non-listed and H shares, with specific percentages attributed to major shareholders[119] Audit and Governance - The audit committee reviewed the third-quarter results report for the nine months ended September 30, 2023, confirming its contents[25] - The Company has established an Audit Committee responsible for overseeing the financial reporting system and risk management[129]

北京北大青鳥環宇科技股份有限公司 BEIJING BEIDA JADE BIRD UNIVERSAL SCI-TECH COMPANY LIMITED （於中華人民共和國註冊成立之股份有限公司） （股票編號：08095） 第三季度業績公佈 截至二零二三年九月三十日止九個月 香港聯合交易所有限公司（「聯交所」）GEM（「GEM」）的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上 市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並 應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券 承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本公佈的內容概不負責，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佈全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 本公佈包括的資料乃遵照GEM證券上市規則（「GEM上市規則」）的規定而提供有關北京 北大青鳥環宇科技股份有限公司（「本公司」）的資料。本公司各董 ...

Financial Performance - Revenue for the six months ended 30 June 2023 was RMB229,644,000, compared to RMB84,548,000 for the same period in 2022[3] - Total revenue for the six months ended 30 June 2023 was RMB229.6 million, a 171.6% increase compared to the same period in 2022[21] - Gross profit increased by 356.8% to RMB47.2 million for the six months ended 30 June 2023[21] - Profit attributable to owners of the Company increased by 431.2% to RMB377.3 million for the six months ended 30 June 2023[21] - Total comprehensive income for the six months ended 30 June 2023 was RMB 386,244 thousand, compared to RMB 67,777 thousand in the same period in 2022[182] - Earnings per share (basic and diluted) for the six months ended 30 June 2023 were RMB 24.91 cents, up from RMB 4.69 cents in the same period in 2022[158] - Profit attributable to owners of the company for the six months ended 30 June 2023 was RMB 377,275 thousand, compared to RMB 71,024 thousand in the same period in 2022[182] - Other comprehensive income after tax for the six months ended 30 June 2023 was RMB 8,365 thousand, compared to RMB 3,383 thousand in the same period in 2022[182] - Revenue from sales of wine and related products increased to RMB 74,885,000 from RMB 27,278,000, showing strong growth in this segment[193] - Revenue from sales and production of LED devices was RMB 4,240,000, slightly down from RMB 4,692,000 in the previous year[193] - Revenue from sales of metallic products rose to RMB 24,176,000 from RMB 12,017,000, indicating a substantial increase in this category[193] - Bank interest income increased to RMB 1,685,000 from RMB 644,000, reflecting higher interest earnings[194] - Government grants received were RMB 3,726,000, up from RMB 760,000, indicating increased support from government sources[194] Assets and Liabilities - Non-current assets as of 31 December 2022 were RMB4,168,421,000[3] - The Group added approximately RMB20,070,000 to property, plant, and equipment and disposed of assets with a net book value of approximately RMB1,000[1] - The Group's property, plant, and equipment additions during the period were approximately RMB20,070,000, with disposals of assets with a net book value of RMB1,000[102] - The Group's net assets as of 30 June 2023 were approximately RMB4,114.7 million, with total outstanding borrowings of RMB928.6 million, consisting of secured bank and other loans of RMB876.8 million and unsecured bank and other loans of RMB51.8 million[108] - The Group's gearing ratio as of 30 June 2023 was 24.5%, a decrease from 28.7% at the end of 2022[109] - The Group's debt-to-equity ratio decreased to 24.5% as of 30 June 2023, down from 28.7% at the end of 2022[94] - The Group's total assets for the investment holding business increased by 3.8% to approximately RMB3.867 billion as of 30 June 2023[90] - The Group's fair value through other comprehensive income financial assets amounted to RMB253.8 million, representing 4.7% of total assets as of 30 June 2023[95] - The Group held financial assets at FVTOCI of approximately RMB253.8 million, representing 4.7% of the total assets[115] - The Group had contingent liabilities of approximately RMB100 million related to guarantees for banking facilities granted to an associate[116] - Total assets increased to RMB 5,360,428,000 from RMB 5,020,879,000, reflecting growth in the company's asset base[183] - Net current assets improved to RMB 743,769,000 from a net current liability of RMB 402,180,000, showing a significant turnaround in liquidity[183] Investments and Acquisitions - The Group acquired an 80% equity interest in Guangdong Lumen Pioneer Opto Co., Ltd. for RMB84,486,160 in April 2022[11] - The Group acquired 80% equity interest in Guangdong Lumen for RMB84,486,160[30] - Net assets acquired from Guangdong Lumen included property, plant and equipment of RMB37,176,000 and other intangible assets of RMB20,955,000[34] - The Group disposed of its 40% equity interest in Beijing Jade Bird Hengsheng Investment Fund, recording a loss of RMB32.0 million[43] - The Group recorded a loss of approximately RMB32 million from the sale of a 40% equity interest in Hengsheng Fund during the six months ended 30 June 2023[88] - The Group recognized a gain of RMB365.5 million from the partial disposal of equity interests in Jade Bird Fire[21] - The Group's investment holding business as of 30 June 2023 included investments in subsidiaries, associates, and joint ventures, primarily in private equity funds with equity investments in private enterprises in China, focusing on semiconductor materials and display devices businesses. The Group also invested in Jade Bird Fire, an A-share listed company in China, and financial assets at FVTOCI, including listed companies in Hong Kong and private companies in China and Hong Kong[60] - Net cash generated from investing activities was RMB 286,155,000, a significant improvement from the net cash used in investing activities of RMB 38,937,000 in the previous year[184] Employee and Management Costs - Short-term employee benefits for key management personnel for the six months ended 30 June 2023 were RMB2,137,000, compared to RMB1,933,000 for the same period in 2022[18] - The Group employed 635 employees as of the end of the reporting period, an increase of 8.7% compared to the end of 2022. The employee cost, including directors' remuneration, employee salaries, and retirement benefit plan contributions, was approximately RMB34.5 million (2022: RMB26.6 million)[64] - The Group's workforce increased by 8.7% to 635 employees at the end of the reporting year, mainly located in the PRC, Hong Kong, and the United States[71] - Staff costs, including directors' emoluments and retirement benefits, amounted to RMB34.5 million for the six months ended 30 June 2023, up from RMB26.6 million in 2022[72] Dividends and Shareholder Information - The Board proposed an interim dividend of RMB0.067 per ordinary share (inclusive of applicable taxes) for the six months ended 30 June 2023. Based on the Company's 1,514,464,000 issued shares, the total interim dividend (if declared and paid) would be approximately RMB101,469,000 (inclusive of applicable taxes)[65] - The Group proposed an interim dividend of RMB0.067 per ordinary share for the six months ended 30 June 2023[79] - The Group proposed an interim dividend of RMB0.067 per ordinary share, amounting to approximately RMB101,469,000 based on 1,514,464,000 shares in issue[134] - Heng Huat is beneficially interested in the entire issued share capital of Dynamic Win Assets Limited, which is taken to be interested in 205,414,000 shares of the Company[46] - The Group's issued non-listed shares and H shares as of 30 June 2023 were 700,000,000 shares and 814,464,000 shares, respectively, each with a par value of RMB0.10[98] - Peking University holds a 28.57% interest in non-listed shares, representing 13.21% of the total issued shares[145] - Beida Asset Management Co., Ltd. holds a 28.57% interest in non-listed shares, representing 13.21% of the total issued shares[145] - Beijing Beida Jade Bird Software System Co., Ltd. holds a 28.57% interest in non-listed shares, representing 13.21% of the total issued shares[145] - Beida Microelectronics Investment Limited holds a 28.57% interest in non-listed shares, representing 13.21% of the total issued shares[145] - Gifted Pillar Limited holds a 28.57% interest in non-listed shares, representing 13.21% of the total issued shares[145] - Rainbow Mountain Holdings Limited holds a 28.57% interest in non-listed shares, representing 13.21% of the total issued shares[145] - Beijing Rainbow Mountain Sci-Tech Development Co., Ltd. holds a 28.57% interest in non-listed shares, representing 13.21% of the total issued shares[145] - Grand East (H.K.) Limited holds a 15.71% interest in non-listed shares, representing 7.26% of the total issued shares[145] - Heng Huat Investments Limited holds a 29.34% interest in non-listed shares, representing 13.56% of the total issued shares[146] - Dynamic Win Assets Limited holds a 29.34% interest in non-listed shares, representing 13.56% of the total issued shares[146] Business Segments - Revenue from major customers (Customer A and Customer B) for the six months ended 30 June 2023 was RMB115,304,000, compared to RMB40,561,000 for the same period in 2022[3] - Tourism development business revenue increased by 174.5% to RMB74.9 million for the six months ended 30 June 2023[42] - The number of tourists and pilgrims visiting Hengshan Mountain scenic area increased by 160.4% year-on-year for the six months ended 30 June 2023[42] - Revenue from the Group's metallic products trading business increased by 211.5% year-on-year to RMB126.3 million for the six months ended 30 June 2023, with a gross margin of 2.4%[81] - The Group's winery in the United States generated revenue of approximately RMB4.2 million, remaining stable compared to RMB4.7 million in 2022[96] - The company's principal activities include investment holding, development of travel and leisure business, production and sales of wine and related products, and sales and production of LED devices[175] - Development of travel and leisure business under Tourism development segment[196] - Holding of fund, debt, and equity investments, including management fee income under Investment holding segment[196] - Sales and purchases of metallic products under Trading of metallic products segment[196] - Development, manufacture, and sale of high-end ceramic high-power LED devices and modules under Sales and production of LED devices segment[196] - Production and sales of wine and related products under All other segments[196] - Intersegment sales and transfers accounted for at current market prices as if to third parties[197] - Information about operating segment profit or loss provided in segment information[198] - Information about operating segment assets provided in segment information[199] - Revenue for geographical information is based on customer location[200] Cash and Cash Equivalents - The Group's cash and cash equivalents as of 30 June 2023 were approximately RMB370.3 million, denominated mainly in RMB, HK$, and USD[93] - The company's cash and cash equivalents at the end of the period were RMB 370,325,000, up from RMB 227,690,000 at the beginning of the period[184] - The Group's cash and cash equivalents as of 30 June 2023 were approximately RMB370.3 million, primarily denominated in RMB, HK$, and USD[103] Guarantees and Liabilities - The maximum liability under the guarantee issued by the Group at the end of the reporting period was RMB100,000,000, down from RMB300,000,000 as of 31 December 2022[13] - The Group's financial guarantee liability limit was reduced to RMB100,000,000 as of 30 June 2023 from RMB300,000,000 as of 31 December 2022[32] - The Group had contingent liabilities of approximately RMB100 million related to guarantees for banking facilities granted to an associate[116] Interest and Loans - Interest on bank, other loans, and lease liabilities for the six months ended 30 June 2023 was RMB25,511,000, compared to RMB17,122,000 for the same period in 2022[4] - As of 30 June 2023, the Group had fixed assets with a carrying amount of approximately RMB226.7 million (31 December 2022: RMB277.1 million), investment properties with a carrying amount of approximately RMB176.8 million (31 December 2022: RMB195.6 million), and bank deposits of approximately RMB1.4 million (31 December 2022: RMB1.2 million) pledged as securities for the Group's bank and other loans[62] Other Financial Information - Basic and diluted earnings per share were reported, but specific figures were not provided[1] - The company has not early applied new and revised HKFRSs but is assessing their potential impact on future financial statements[190] - The Group did not have any significant investment plans or material acquisitions and disposals as of 30 June 2023[127][105] - The Group's foreign exchange exposure is primarily in USD, RMB, HK$, Canadian dollars, and Euro, with limited currency risk due to automatic matching of turnover and production costs in RMB[100]