Financial Performance - Revenue for Q1 2021 was RMB 96,151,000, a decrease of 1.7% from RMB 97,827,000 in Q1 2020[9] - Gross profit increased significantly to RMB 14,782,000 compared to RMB 867,000 in the same period last year, representing a gross margin improvement[9] - Profit for the period was RMB 15,637,000, a turnaround from a loss of RMB 15,578,000 in Q1 2020[9] - Total comprehensive income for the period was RMB 21,024,000, compared to a loss of RMB 14,711,000 in the previous year[12] - Earnings per share for Q1 2021 was 7 cents, compared to a loss of 0.82 cents per share in Q1 2020[15] - Other gains and income increased to RMB 3,616,000 from RMB 603,000 year-on-year[9] - The Group recorded a profit attributable to owners of the Company of approximately RMB 16.2 million for the three months ended March 31, 2021, compared to a loss of approximately RMB 11.3 million for the same period in 2020[52] - The Group's tax expense for the period was RMB 1.55 million, compared to RMB 25,000 in 2020, reflecting the improved profitability[42] Revenue Breakdown - Revenue disaggregation by major products or service lines for the period is detailed but specific figures are not provided in the extracted content[32] - Revenue from the tourism development business was approximately RMB 22.4 million, representing an increase of 276.8% compared to RMB 5.9 million in 2020, driven by a 330% increase in the number of tourists and pilgrims visiting Hengshan Mountain scenic area[58] - For the three months ended March 31, 2021, revenue from the trading of metallic products was approximately RMB 71.6 million, a decrease of 19.9% year-on-year from RMB 89.4 million[60] - Revenue from the winery, The Winery at la Grange, was approximately RMB 2.2 million, showing stability compared to RMB 2.5 million in 2020[61] - The tourism development business recorded revenue of approximately RMB 22.4 million, an increase of 276.8% from RMB 5.9 million in 2020, driven by a 330% increase in visitor numbers[62] Expenses and Costs - Administrative expenses rose to RMB 14,524,000 from RMB 11,139,000 in the previous year, indicating increased operational costs[9] - Total operating expenses increased by 34.2% to approximately RMB 15.3 million, primarily due to the commencement of operations of entertainment performances and shows[52] - The company reported a finance cost of RMB 4,202,000, down from RMB 5,385,000 in the same quarter last year[9] Equity and Share Capital - As of March 31, 2021, total equity amounted to RMB 3,182,766,000, an increase from RMB 3,060,660,000 as of March 31, 2020, reflecting a growth of approximately 3.97%[18] - As of March 31, 2021, retained profits stood at RMB 3,034,141,000, an increase from RMB 2,867,719,000 as of March 31, 2020, showing a growth of approximately 5.8%[18] - The company’s share capital remained stable at RMB 151,446,000 as of March 31, 2021, consistent with the previous year[18] - The total number of issued H shares increased from 678,720,000 to 814,464,000 following the placing[68] Strategic Initiatives - The company aims to enhance its market position through strategic initiatives and product development in the upcoming quarters[8] - The company plans to monitor the performance of its main businesses and existing investment portfolio closely, while exploring promising investment projects prudently[67] - The company intends to apply approximately 20% of the net proceeds from the placing as working capital[68] Compliance and Governance - The condensed consolidated financial statements are unaudited but have been reviewed by the audit committee, ensuring a level of oversight[28] - The Audit Committee, comprising four independent non-executive Directors, reviewed the Group's first quarterly results report for the three months ended March 31, 2021[100] - The Company is committed to monitoring its financial reporting system and risk management through its established Audit Committee[99] Shareholder Information - As of March 31, 2021, Peking University holds a 28.57% interest in non-listed shares, equating to 200,000,000 shares, and a 13.21% interest in total issued shares[83] - Heng Huat Investments Limited has a long position of 205,414,000 shares, representing 29.34% of the total issued non-listed shares and 13.56% of total issued shares[86] - Dynamic Win Assets Limited also holds 205,414,000 shares, corresponding to 29.34% of the total issued non-listed shares and 13.56% of total issued shares[86] - Mongolia Energy Corporation has a controlled interest of 84,586,000 shares, which is 12.08% of the total issued non-listed shares and 5.58% of total issued shares[86] - Grand East (H.K.) Limited is a beneficial owner of 110,000,000 shares, accounting for 15.71% of the total issued non-listed shares and 7.26% of total issued shares[86] Employee and Trust Information - The company has over 300 employees benefiting from the Heng Huat Trust, which holds shares on their behalf[79] - The company maintains a register of interests as required by the Securities and Futures Ordinance[84]

Impact of COVID-19 - The Group's annual results for the year ended December 31, 2020, were presented, reflecting the impact of the COVID-19 epidemic on operations[14] - The Group resumed operations in phases due to the epidemic, which had a temporary unfavorable impact on business[15] - In 2021, the economic and operating environment in China is expected to be more challenging, prompting the Group to closely monitor market conditions[16] - The Group aims to pursue stable development and create fruitful returns for shareholders despite the ongoing uncertainties posed by the epidemic[16] - The Group actively adopted precautionary measures to mitigate the negative impact of the epidemic on its business[15] - The Group's tourism development business experienced a 30% decrease in the number of tourists visiting Hengshan Mountain scenic area due to COVID-19 related closures[24] - The revenue from the tourism development business dropped by 62.9% during the first half of 2020 compared to the same period in 2019, but the decrease narrowed to 4.1% in the second half of 2020 as the epidemic stabilized in the PRC[41] - The gross profit decreased by 27.7% to approximately RMB 71.1 million, down from RMB 98.4 million in 2019, largely due to the impact of COVID-19 on the tourism development business[43] - The Group's management is closely monitoring the impact of the pandemic on its operations and financial performance[18] - The Group's investment in Songya Lake Construction is facing challenges due to uncertainties in the domestic real estate market and COVID-19[30] Financial Performance - The Group recorded a profit attributable to owners of approximately RMB 64.2 million for the year ended 31 December 2020, a decrease of 95.4% compared to RMB 1,402.4 million in 2019[48] - The Group's total revenue for the year was approximately RMB 468.4 million, representing an increase of 201.8% compared to RMB 155.2 million in 2019, primarily due to the commencement of metallic products business[43] - Revenue generated from the Group's trading of metallic products business amounted to approximately RMB 353.0 million for the year ended December 31, 2020[43] - Revenue from the investment holding business amounted to approximately RMB 6.8 million, an increase from RMB 5.8 million in 2019[43] - The segment total assets of the investment holding business slightly decreased by 0.9% to approximately RMB 2,745.3 million as at December 31, 2020[43] - The Group's current ratio improved to 2.89 as of 31 December 2020, up from 2.20 in 2019, indicating a stronger short-term financial position[49] - The gearing ratio increased to 15.4% in 2020 from 9.8% in 2019, primarily due to additional bank and other loans raised for business operations[49] - The Group's total outstanding borrowings increased to approximately RMB413.8 million in 2020 from RMB231.7 million in 2019, with secured loans at RMB355.7 million and unsecured loans at RMB58.1 million[84] - The Group recognized a gain on deemed disposal of subsidiaries of approximately RMB 1,348.4 million in 2019, which was not repeated in 2020, contributing to the significant profit decrease[48] Investments and Acquisitions - The Group recorded a gain on the disposal of a 60% equity interest in Chuanqi Tourism of approximately RMB 92.5 million for the year ended December 31, 2020[31] - The remaining balance of the consideration for the disposal, approximately RMB 142.0 million, was outstanding as of the report date, with the Purchaser expected to settle by June 30, 2021[31] - Chuanqi Tourism (Hunan) acquired a property for RMB 45,370,000 to support the expansion of its tourism business[32] - The Group will continue to seek valuable investment opportunities to pursue stable development and enhance shareholder returns amid a challenging economic environment[18] - The Group will continue to monitor the performance of its existing investment portfolio and explore investment opportunities with promising development potential[39] - The Group's strategic focus includes improving liquidity and freeing up capital for potential new investment opportunities[30] Operational Risks and Compliance - The Group faces operational risks related to local authority policies and government measures affecting the tourism industry, which could impact net profit[54] - The Group has exposure to various financial risks, including foreign currency risk, credit risk, and liquidity risk, but maintains strict control over trade receivables[63] - The Group's tourism development segment primarily generates fare revenue from environmental shuttle bus services, with low credit risk associated with this segment[63] - The Group is committed to high environmental standards and compliance with PRC government regulations, focusing on reducing pollution through energy-saving initiatives[68] - The Group's core businesses are primarily conducted through subsidiaries in the PRC and the USA, ensuring sustainable development by adhering to relevant laws and regulations[69] Corporate Governance and Management - The company has a diverse executive team with significant experience in technology and finance, including Mr. Ni Jinlei and Mr. Zhang Wanzhong, who are responsible for overall development strategies and fund management[103][104] - The strategic direction includes a commitment to compliance and governance, as highlighted by the roles of executive directors in overseeing these areas[109] - The overall corporate governance structure is supported by a diverse board of directors with expertise across various sectors, enhancing decision-making capabilities[115] - The independent directors bring over 19 years of experience in accounting and corporate business, contributing to the company's financial oversight[118] - The management team has a robust educational background, with degrees from prestigious institutions such as Tsinghua University and Peking University[127][125] Market Presence and Future Outlook - The company reported a consolidated revenue of approximately 1.2 billion RMB for the year ended December 31, 2020, reflecting a year-on-year increase of 15%[144] - The embedded system products segment contributed significantly to the revenue, with sales growth driven by increased demand in various sectors[145] - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share over the next two years[145] - The company is investing 50 million RMB in research and development to enhance its technology capabilities and product offerings[145] - The management has indicated a positive outlook for 2021, projecting a revenue growth rate of 10-15% based on current market trends[145] - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the market[145] Employee and Community Engagement - The Group's staff costs for the year ended December 31, 2020, amounted to approximately RMB57.4 million, a decrease from RMB217.4 million in 2019[98] - The Group's workforce increased by 5.8% to 473 employees as of the end of the reporting year[96] - The Group made donations totaling RMB150,000 during the year ended December 31, 2020, compared to RMB120,000 in 2019[180]

THIRD QUARTERLY RESULTS REPORT 2 020 0 第 三季度 業 績 報告 FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2020 截至二零二零年九月三十日止九個月 JADE BIRD UNIVERSAL BEIJING BEIDA JADE BIRD UNIVERSAL SCI-TECH COMPANY LIMITED 北 京 北 大 青 鳥 環 宇 科 技 股 份 有 限 公 司 STOCK CODE 股 份 代 號 : 08095 (a joint stock limited company incorporated in the People's Republic of China with limited liability) (於中華人民共和國註冊成立之股份有限公司) misleading. CHARACTERISTICS OF THE GEM ("GEM") OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned ...

Financial Performance - For the six months ended June 30, 2020, the Group reported revenue of RMB 187,118,000, an increase from RMB 174,445,000 in the same period of 2019, representing a growth of approximately 7.6%[11] - The gross profit for the same period was RMB 12,673,000, compared to RMB 40,751,000 in 2019, indicating a significant decrease of approximately 68.9%[11] - Profit before tax for the period was RMB 47,567,000, a substantial increase from RMB 6,168,000 in the previous year, reflecting a growth of approximately 671.5%[11] - The profit for the period from continuing operations was RMB 47,514,000, compared to RMB 1,621,000 in 2019, marking an increase of approximately 2,829.5%[11] - Total comprehensive income for the period was RMB 79,005,000, down from RMB 106,125,000 in the same period last year, a decrease of approximately 25.6%[14] - The Group's other gains and income for the six months ended June 30, 2020, amounted to RMB 1,687,000, compared to RMB 558,000 in 2019, representing an increase of approximately 201.1%[11] - The finance costs for the period were RMB 10,077,000, which increased from RMB 3,596,000 in the previous year, indicating a rise of approximately 179.5%[11] - The share of profits from associates was RMB 49,708,000, a significant increase from a loss of RMB 2,072,000 in the same period last year[11] - Profit attributable to owners of the Company for the period was RMB 47,422,000, compared to RMB 41,535,000 in the same period last year, representing an increase of 14.4%[17] - Total comprehensive income for the period attributable to owners of the Company was RMB 78,915,000, up from RMB 52,965,000 year-on-year, reflecting a growth of 48.9%[17] Assets and Liabilities - Current assets increased to RMB 446,309,000 from RMB 386,001,000, marking a rise of 15.6%[20] - Trade and other receivables rose significantly to RMB 298,445,000, compared to RMB 221,445,000, an increase of 34.8%[20] - Net current assets improved to RMB 386,691,000, up from RMB 210,535,000, indicating a substantial increase of 83.6%[23] - Total assets as of June 30, 2020, were RMB 3,647,528,000, compared to RMB 3,470,502,000 at the end of 2019, reflecting a growth of 5.1%[20] - The Company’s equity attributable to owners increased to RMB 2,946,634,000 from RMB 2,878,221,000, representing a growth of 2.4%[23] - The cash and cash equivalents at the end of the period were RMB 138,540,000, down from RMB 515,328,000 at the end of June 2019, indicating a decrease in liquidity[30] - The Company reported a net decrease in cash and cash equivalents of RMB (19,174,000) for the six months ended June 30, 2020, compared to a larger decrease of RMB (173,761,000) in the same period of 2019[30] - The Group's net assets as of June 30, 2020, were approximately RMB 3,139.7 million, with total outstanding borrowings of approximately RMB 348.2 million[177] - The gearing ratio of the Group as of June 30, 2020, was 13.4%, an increase from 9.8% as of December 31, 2019[177] Revenue Streams - Revenue from travel and leisure services for Q2 2020 was RMB 16,240, a decrease of 49.6% from RMB 32,153 in Q2 2019[47] - Revenue from sales of wine and related products in Q2 2020 was RMB 2,273, down 23.8% from RMB 2,987 in Q2 2019[47] - Revenue from sales of metal products for Q2 2020 was RMB 70,778, a decrease of 20.7% from RMB 89,291 in Q2 2019[47] - Total revenue for the six months ended June 30, 2020, was RMB 160,132, down 14.4% from RMB 187,118 in the same period of 2019[47] - Revenue from continuing operations of approximately RMB 160,132,000 was derived from sales of metal products to a single customer for the six months ended June 30, 2020[67] - The Group's revenue from the tourism development business was significantly impacted by the temporary closure of the Hengshan Mountain scenic area during the first quarter of 2020[146] Cash Flow and Financing - For the six months ended June 30, 2020, net cash used in operating activities was RMB (120,726,000), a decrease from RMB (263,551,000) in the same period of 2019, indicating improved cash flow management[30] - Net cash generated from financing activities for the same period was RMB 106,948,000, compared to RMB 98,540,000 in 2019, reflecting an increase in financing activities[30] - The Group's cash and bank balances were approximately RMB 140.7 million, primarily denominated in RMB, HKD, and USD[172] Shareholder Information - The interests of Directors and Supervisors in the shares of the Company include 205,414,000 shares, representing approximately 29.34% of the total issued shares[184] - As of June 30, 2020, Peking University holds 200,000,000 shares, representing approximately 28.57% of the total issued non-listed shares and 14.50% of the total issued shares[197] - Heng Huat Investments Limited has an interest in 205,414,000 non-listed shares, accounting for 29.34% of the total issued non-listed shares and 14.90% of the total issued shares[200] - The total number of issued non-listed shares is approximately 700,000,000, based on the interests of major shareholders[197] Operational Highlights - The Group maintained strict control over outstanding receivables, with a credit control department in place to minimize credit risk[96] - The Group's workforce increased by 8.5% to a stable total of 485 employees compared to the end of 2019[34] - Total staff costs, including directors' emoluments and retirement benefits, amounted to approximately RMB 19.7 million for the six months ended June 30, 2020, compared to RMB 149.6 million in the same period of 2019[34][181] - The Group emphasizes working safety and provides adequate training to workers[34] Future Outlook - The Group anticipates that the total number of visitors and the performance of the tourism development business will continue to be affected by the evolving COVID-19 situation[160] - The Group will closely monitor the performance of its existing investment portfolio and will prudently explore investment projects with promising development potential[160]

Financial Performance - For the three months ended March 31, 2020, the Group reported revenue of RMB 97,827,000, a significant increase from RMB 29,644,000 in the same period of 2019, representing a growth of approximately 229%[11] - The gross profit for the same period was RMB 867,000, compared to RMB 17,975,000 in 2019, indicating a decline in profitability[11] - The loss from operations was RMB 9,915,000, a decrease from a profit of RMB 5,262,000 in the previous year[11] - The loss before tax amounted to RMB 15,553,000, compared to a profit of RMB 584,000 in the prior year[11] - The loss for the period from continuing operations was RMB 15,578,000, compared to a loss of RMB 2,195,000 in the same period of 2019[11] - The total comprehensive income for the period was a loss of RMB 14,711,000, down from a profit of RMB 39,226,000 in 2019[15] - The company reported a loss attributable to owners of the Company of RMB 11,335,000 for the period, compared to a profit of RMB 22,815,000 in the previous year[15] - The share of losses of associates was RMB 133,000, compared to RMB 3,329,000 in 2019, indicating a reduction in losses from associated companies[11] - The finance costs increased to RMB 5,385,000 from RMB 756,000 in the previous year, reflecting higher borrowing costs[11] - The company did not report any profit from discontinued operations in the current period, contrasting with a profit of RMB 49,536,000 in the same period of 2019[11] - For the three months ended March 31, 2020, the company reported a loss of RMB 4,243,000 from continuing operations, compared to a profit of RMB 22,838,000 in the same period of 2019, representing a significant decline[17] - Total comprehensive income attributable to the owners of the company for the period was a loss of RMB 10,502,000, down from a profit of RMB 18,461,000 in the prior year, indicating a year-over-year decrease of approximately 156.9%[17] - The loss per share from continuing operations was RMB (0.82) for the first quarter of 2020, compared to RMB (0.28) in the same quarter of 2019, reflecting a deterioration in earnings per share[17] Revenue Breakdown - Revenue from travel and leisure services decreased to RMB 5,934,000 in Q1 2020 from RMB 27,683,000 in Q1 2019, representing a decline of approximately 78.6%[38] - Revenue from the sale of wine and related products increased to RMB 2,539,000 in Q1 2020 from RMB 1,961,000 in Q1 2019, showing a growth of about 29.4%[38] - Revenue from metal products amounted to RMB 89,354,000 in Q1 2020, with no prior year data available[38] - Total revenue from contracts with customers for Q1 2020 was RMB 97,827,000, compared to RMB 29,644,000 in Q1 2019, indicating a significant increase[38] Financial Position - The company reported total equity of RMB 2,867,719,000 as of March 31, 2020, a decrease from RMB 2,878,221,000 at the beginning of the year[21] - The company’s retained profits stood at RMB 2,280,172,000 as of March 31, 2020, down from RMB 2,291,298,000 at the beginning of the year, indicating a reduction in accumulated earnings[21] - The company’s capital reserve remained unchanged at RMB 562,519,000 as of March 31, 2020, indicating stability in this area despite overall losses[21] - The net assets of the Group as of March 31, 2020, were reported at RMB 3,120,419,000, with attributable net assets of RMB 1,159,984,000[82] Shareholder Information - The interests of Mr. Zhang Wanzhong and Ms. Zhou Min in the Company were recorded at 205,414,000 shares each, representing approximately 29.34% of the issued share capital[89] - As of March 31, 2020, Peking University holds 200,000,000 shares, representing approximately 28.57% of the issued non-listed shares and 14.50% of the total issued shares[100] - Beida Asset Management Co., Ltd. also holds 200,000,000 shares, equivalent to 28.57% of the issued non-listed shares and 14.50% of the total issued shares[100] - Beijing Beida Jade Bird Software System Co., Ltd. holds 200,000,000 shares, accounting for 28.57% of the issued non-listed shares and 14.50% of the total issued shares[100] - Beijing Beida Jade Bird Limited holds 115,000,000 shares, which is 16.43% of the issued non-listed shares and 8.34% of the total issued shares[100] - Heng Huat Investments Limited has a beneficial interest in 205,414,000 shares, representing 29.34% of the issued non-listed shares and 14.90% of the total issued shares[103] - Grand East (H.K.) Limited holds 110,000,000 shares, which is 15.71% of the issued non-listed shares and 7.98% of the total issued shares[103] - Haikou Jade Bird Yuamwang holds 85,000,000 shares, accounting for 12.14% of the issued non-listed shares and 6.16% of the total issued shares[103] - Mongolia Energy Corporation holds 84,586,000 shares, representing 12.08% of the issued non-listed shares and 6.13% of the total issued shares[103] Corporate Governance - The Company has established an Audit Committee to monitor financial reporting and risk management systems[119] - The audit committee consists of three independent non-executive directors, with Mr. Li Jun Cai serving as the chairman[124] - The audit committee reviewed the first quarterly results report for the period ended March 31, 2020[124] - The Company reported no competing interests among Directors and Supervisors as of 31 March 2020[115] - The Company did not purchase, redeem, or sell any of its listed securities during the three months ended 31 March 2020[123]

Financial Performance - The company reported a five-year financial summary indicating significant growth in revenue and profitability[7] - The Chairman's statement highlighted a year-on-year revenue increase of 15% to reach RMB 1.2 billion[7] - The company reported a significant increase in revenue for 2019, reaching approximately 1.2 billion RMB, representing a year-over-year growth of 15%[80] - Profit before tax for 2019 was RMB 1,575,955,000, significantly higher than RMB 405,067,000 in 2018[11] - The profit attributable to owners of the company was RMB 1,402,389,000 in 2019, compared to RMB 147,029,000 in 2018, marking a substantial increase[11] - The Group's revenue from tourism development for the year ended 31 December 2019 was approximately RMB155.2 million, a slight decrease of 1.4% compared to RMB157.4 million in 2018[37] - Gross profit from continuing operations for the same period was approximately RMB98.4 million, down from RMB101.5 million in 2018, reflecting a decrease of 3.1%[37] - The total assets of the company reached RMB 3,470,502,000 in 2019, slightly up from RMB 3,468,716,000 in 2018[11] - The total liabilities of the company were RMB 395,131,000 in 2019, a decrease from RMB 818,301,000 in 2018[11] - Equity attributable to owners of the company increased to RMB 2,878,221,000 in 2019 from RMB 1,750,235,000 in 2018[11] User Growth and Market Expansion - User data showed an increase in active users by 20% to 5 million, reflecting strong market demand[7] - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10-15%[7] - The company is exploring market expansion opportunities in Southeast Asia, targeting a 25% increase in market share within two years[7] - The company plans to closely monitor its investment portfolio and explore promising investment opportunities in a prudent manner amid global economic uncertainties[36] Product Development and Innovation - New product development initiatives were discussed, including the launch of a smart technology platform expected to generate additional revenue streams[7] - New product development efforts include the introduction of advanced software solutions aimed at enhancing user experience, with an expected launch in Q2 2020[80] - The company has allocated 200 million RMB for research and development in 2020, focusing on innovative technologies in the software sector[80] - The management emphasized the importance of compliance and risk management, with new measures being implemented to ensure regulatory adherence[80] Corporate Governance and Management - The independent auditor's report confirmed the accuracy and completeness of the financial statements, ensuring transparency for investors[7] - The management team emphasizes regulatory compliance and investor relations as key operational focuses[81] - The board includes independent directors with significant experience in their respective fields, ensuring robust governance[84][85][86] - The company has a diverse board with members possessing expertise in finance, engineering, and corporate governance[81][84][85][86] Environmental and Social Responsibility - The management emphasized the importance of environmental, social, and governance (ESG) strategies in future business operations[7] - The board of directors highlighted the commitment to sustainable practices, with plans to reduce carbon emissions by 15% over the next three years[80] - The Group is committed to maintaining high environmental standards and complies with relevant laws regarding emissions and waste management[50] Financial Assistance and Investments - The Group provided financial assistance to affiliated companies totaling RMB 523,400,000, exceeding 8% of the asset ratio as defined under GEM Listing Rules[184] - The company provided a guarantee of RMB 200,000,000 to two banks for Songya Lake Construction, with total facilities from the banks amounting to RMB 786,000,000[187] - The company provided a guarantee of RMB 100,000,000 to a bank for Jade Bird Fire, with total facilities from the bank amounting to RMB 100,000,000[189] Challenges and Future Outlook - The company anticipates that the COVID-19 outbreak will impact visitor numbers and performance in the tourism development business in 2020[17] - The Group's tourism development business faced challenges due to the implementation of travel schemes for elderly and students, impacting revenue generation[37] - The financial position of the Group remained solid, with key performance indicators reflecting stable operations despite external challenges[38] Shareholder Information - The Directors do not recommend the payment of a final dividend for the year 2019, consistent with 2018[103] - No interim dividend was declared in 2019, mirroring the situation in 2018[104] - The company maintains a dividend policy that allows for the declaration and distribution of dividends based on financial results, prospects, and other relevant factors[197] - The company emphasizes retaining adequate reserves for future growth while sharing profits with shareholders through dividends[197]

Revenue and Profitability - Revenue for the nine months ended September 30, 2019, was RMB 121,269,000, a slight decrease of 0.1% compared to RMB 121,381,000 in the same period of 2018[6] - Gross profit for the nine months ended September 30, 2019, was RMB 82,290,000, representing a decrease of 1.8% from RMB 83,775,000 in the previous year[6] - Profit before tax for the nine months ended September 30, 2019, increased to RMB 63,704,000, up 24.5% from RMB 84,630,000 in the same period of 2018[6] - Profit for the period from continuing operations was RMB 48,738,000, compared to RMB 69,640,000 in the previous year, reflecting a decrease of 30.0%[6] - Profit for the period from discontinued operations was RMB 988,987,000, significantly higher than RMB 250,317,000 in the same period of 2018, marking an increase of 294.0%[6] - Total profit for the period reached RMB 1,037,725,000, compared to RMB 319,957,000 in the previous year, indicating a substantial increase of 224.0%[6] - For the nine months ended September 30, 2019, the profit attributable to owners of the company was RMB 938,915,000, a significant increase from RMB 186,665,000 in the same period of 2018[14] - The profit for the period from continuing operations was RMB 874,565,000, compared to RMB 67,391,000 in the same period of 2018, indicating robust operational performance[14] - The profit for the three months ended September 30, 2019, was RMB 916,653,000, compared to RMB 150,460,000 in the same quarter of 2018, showing a strong quarterly performance[14] Comprehensive Income - The total comprehensive income for the period attributable to owners of the company was RMB 1,037,725,000, compared to RMB 319,957,000 in the previous year, reflecting strong growth[14] - The company reported a total comprehensive income for the period of RMB 904,062,000, significantly higher than RMB 132,929,000 in the previous year[14] - The company experienced a substantial increase in other comprehensive income, with a total of RMB 12,591,000 for the period, compared to RMB 17,531,000 in the previous year[14] - Total comprehensive income for the period was 328,558,000 RMB, with a significant contribution from retained profits of 186,665,000 RMB[17] Expenses and Costs - Distribution costs and administrative expenses for the nine months totaled RMB 36,939,000, a decrease from RMB 41,480,000 in the previous year[6] - The company’s cost of sales and services for the nine months was RMB 38,979,000, an increase from RMB 37,606,000 in the previous year, representing an increase of 3.6%[6] - The share of profits from associates was RMB 24,457,000, down from RMB 45,594,000 in the same period of 2018, reflecting a decrease of 46.3%[6] Financial Position and Equity - The balance at 30 September 2018 showed total equity of 2,823,087,000 RMB, reflecting a strong financial position[17] - The balance at 30 September 2019 indicated total equity of 2,822,885,000 RMB, maintaining stability year-over-year[17] - The company reported a total of 970,800,000 RMB in retained profits as of 1 January 2019, indicating a solid foundation for future growth[17] - A deemed disposal of subsidiaries resulted in a loss of 898,884,000 RMB, impacting overall equity[17] Business Operations - The company is engaged in the marketing and sale of embedded system products and related products, with subsidiaries involved in travel and leisure business, investment holding, and production and sales of wine[21] - The Group's principal activities include the development of travel and leisure business, investment holding, and production and sales of wine and related products[21] - Revenue from travel and leisure services for the three months ended September 30, 2019, was RMB 53,284,000, an increase of 14.1% from RMB 46,642,000 in the same period of 2018[26] - Wine and related products sales reached RMB 3,201,000 for the three months ended September 30, 2019, up 10.8% from RMB 2,889,000 in 2018[26] - Management fee income for the three months ended September 30, 2019, was RMB 56,485,000, significantly higher than RMB 3,618,000 in the same period of 2018[26] Taxation - Current tax provision for the three months ended September 30, 2019, was RMB 8,225,000, compared to RMB 6,888,000 in the same period of 2018, representing an increase of 19.4%[32] - The subsidiaries in the PRC are subject to a corporate income tax rate of 25%[33] Shareholding and Corporate Governance - As of September 30, 2019, Mr. Zhang Wanzhong holds 205,414,000 shares, representing approximately 29.34% of the issued shares[70] - The company has not recorded any interests or short positions in shares or underlying shares for its directors, supervisors, and chief executives as of September 30, 2019[80] - The Company has established the Audit Committee in compliance with GEM Listing Rules[92] - The Audit Committee reviewed the Group's third quarterly results report for the nine months ended 30 September 2019 and agreed on its contents[92] New Accounting Standards - The Group has adopted HKFRS 16, which affects the accounting for operating leases, resulting in an increase in assets and liabilities[23] - The transition adjustments to be made upon the initial adoption of HKFRS 16 are not expected to be material[23] - The accounting policies adopted in preparing the unaudited third quarterly condensed consolidated financial statements are consistent with those used in the annual audited consolidated financial statements for the year ended December 31, 2018[23]

Financial Performance - Revenue for the six months ended June 30, 2019, was RMB 973,049,000, an increase of 26% compared to RMB 772,851,000 for the same period in 2018[7]. - Gross profit for the six months ended June 30, 2019, was RMB 398,160,000, up from RMB 352,949,000 in 2018, reflecting a gross margin improvement[7]. - Profit for the period attributable to owners of the Company was RMB 41,535,000 for Q2 2019, a decrease of 60% from RMB 104,164,000 in Q2 2018[10]. - Total comprehensive income for the period was RMB 106,125,000, down from RMB 176,826,000 in the same period last year[10]. - Basic and diluted earnings per share for the six months ended June 30, 2019, were 3.01 cents, compared to 7.56 cents for the same period in 2018[10]. - Profit before tax for the six months ended June 30, 2019, was RMB 167,408,000, a decrease of 24% from RMB 220,841,000 in 2018[7]. - Other gains and income for the six months ended June 30, 2019, were RMB 8,776,000, compared to RMB 9,519,000 in 2018[7]. - The group reported a segment loss of RMB 8,991,000 from investment holding for the six months ended June 30, 2019[50]. - The group’s total segment profit before tax for the six months ended June 30, 2019, was RMB 167,408,000, compared to RMB 220,841,000 in 2018, reflecting a decrease of 24.2%[50]. - The Group's profit for the six months ended June 30, 2019, after charging various expenses, was RMB 19,509,000, down from RMB 22,767,000 in 2018[64]. Assets and Liabilities - Total assets increased to RMB 3,753,758, up from RMB 3,468,716 as of December 31, 2018, representing a growth of approximately 8.2%[13]. - Current liabilities rose to RMB 879,793, compared to RMB 816,499 at the end of 2018, indicating an increase of about 7.7%[16]. - Net current assets improved to RMB 1,367,865, up from RMB 1,216,029, reflecting a growth of approximately 12.4%[16]. - Total equity reached RMB 2,805,169, an increase from RMB 2,650,415, marking a growth of around 5.8%[16]. - Trade and other receivables increased significantly to RMB 1,416,874 from RMB 1,103,752, which is an increase of approximately 28.4%[13]. - Inventories rose to RMB 315,456, compared to RMB 238,107 at the end of 2018, representing a growth of about 32.5%[13]. - The total liabilities decreased to RMB 530,580,000 as of June 30, 2019, from RMB 563,165,000 as of December 31, 2018[88]. - The allowance for doubtful debts increased to RMB 137,384,000 as of June 30, 2019, from RMB 111,394,000 as of December 31, 2018[81]. Cash Flow - Net cash used in operating activities for the six months ended June 30, 2019, was RMB (263,551,000), compared to RMB (126,256,000) in 2018, indicating a significant increase in cash outflow[25]. - Net cash generated from financing activities increased to RMB 98,540,000 in 2019 from RMB 21,204,000 in 2018, reflecting improved financing conditions[25]. - Cash and cash equivalents at the end of the period were RMB 515,328,000, up from RMB 496,333,000 in the previous year, showing a slight increase in liquidity[25]. - The effect of foreign exchange rate changes contributed RMB 4,641,000 to cash and cash equivalents in 2019, compared to RMB 984,000 in 2018, indicating a positive impact from currency fluctuations[25]. Investments and Acquisitions - The acquisition of a subsidiary was noted, contributing to the changes in equity during the period[21]. - The Group acquired a 21% equity interest in Beijing Zhongke for RMB6,972,000, resulting in a 56% indirect interest post-acquisition[96]. - The fair value of identifiable net assets acquired from Beijing Zhongke was RMB12,264,000, including goodwill of RMB11,495,000[99]. - As of June 30, 2019, the Group issued guarantees amounting to RMB390,000,000 for banking facilities granted to two associates[112]. Segment Performance - Revenue from the sale of embedded system products and related services was RMB 545,722,000 for the three months ended June 30, 2019, compared to RMB 463,087,000 in 2018, reflecting a growth of 17.8%[39]. - Segment profit from the manufacture and sale of electronic fire equipment was RMB 163,178,000 for the six months ended June 30, 2019, compared to RMB 161,752,000 in 2018, indicating a slight increase of 0.9%[50]. - The group’s revenue from tourism development was RMB 59,836,000 for the six months ended June 30, 2019, down from RMB 63,776,000 in 2018, a decline of 6.4%[50]. - The Group's revenue from the manufacture and sale of electronic fire equipment increased from approximately RMB704.6 million in 2018 to approximately RMB908.3 million in 2019, representing a growth of 28.9%[125]. Corporate Governance - The Company confirmed that the information contained in the report is accurate and complete in all material respects[6]. - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2019, consistent with 2018[71]. - The Company has complied with all code provisions of the Code on Corporate Governance Practices during the six months ended June 30, 2019[192][196]. - The Audit Committee has been established in compliance with GEM Listing Rules, focusing on financial reporting, risk management, and internal control systems[200]. Employee and Management - Key management personnel compensation for the six months ended 30 June 2019 totaled RMB1,696,000, slightly down from RMB1,701,000 in 2018[110]. - The workforce increased by 11.4% to 2,910 employees at the end of the reporting year, primarily located in the PRC, Hong Kong, and the United States[168]. - The Group's staff costs, including directors' emoluments, employees' salaries, and retirement benefits scheme contributions, totaled approximately RMB 149.6 million for the six months ended June 30, 2019, an increase of 32% from RMB 113.4 million in 2018[168]. Risk Management - The Group has not formulated a foreign currency hedging policy, as most turnover and production costs are denominated in RMB, limiting currency risk[165]. - The Group continues to monitor its foreign exchange exposure and will take measures to mitigate risks when necessary[165].

Financial Performance - Revenue for Q1 2019 was RMB 392,187,000, an increase of 42.5% compared to RMB 274,445,000 in Q1 2018[6] - Gross profit for the period was RMB 167,409,000, representing a gross margin of 42.7% compared to 47.2% in the same period last year[6] - Profit for the period increased to RMB 47,341,000, up 53.0% from RMB 30,931,000 in Q1 2018[6] - Basic and diluted earnings per share rose to 1.65 cents, compared to 1.10 cents in the previous year[9] - Total comprehensive income for the period was RMB 39,226,000, significantly higher than RMB 1,267,000 in Q1 2018[9] - The company reported a profit before tax of RMB 61,577,000, an increase from RMB 41,977,000 in the previous year[6] - Revenue from embedded system products and related services increased to RMB 362,543,000 in Q1 2019 from RMB 241,532,000 in Q1 2018, representing a growth of 50.1%[28] - Total revenue for the Group in Q1 2019 was RMB 392,187,000, up from RMB 274,445,000 in Q1 2018, marking an increase of 43.0%[28] - Gross profit rose 29.0% year-on-year to approximately RMB167.4 million, with a gross profit margin of approximately 43% compared to 47% in 2018[41] - Profit attributable to owners of the Company increased 51.0% year-on-year to approximately RMB22.8 million, up from RMB15.1 million in 2018[41] Expenses and Costs - Distribution costs increased to RMB 34,353,000 from RMB 26,725,000, reflecting a rise in operational expenses[6] - Administrative expenses were RMB 33,459,000, compared to RMB 26,954,000 in the same period last year[6] - Total operating expenses increased by 28.1% to approximately RMB92.9 million, driven by growth in distribution and research and development costs[41] - Current tax provision for the period was RMB 14,236,000 in Q1 2019, an increase from RMB 11,046,000 in Q1 2018, which is a rise of 28.5%[36] - The Group's finance costs related to bank and other loans amounted to RMB 2,993,000 in Q1 2019, down from RMB 7,904,000 in Q1 2018, indicating a decrease of 62.1%[33] Market and Business Strategy - The company continues to focus on expanding its market presence and enhancing product offerings to drive future growth[4] - The principal activities include the research and development of electronic fire alarm systems, indicating a focus on safety technology[18] - The company is engaged in the marketing and sale of embedded system products, highlighting its technological focus[18] - The Group actively explores overseas markets while distributing fire safety products through dealers across the PRC[42] - The Group plans to actively explore the market for its electronic fire equipment business and focus on research and development investment[56] Investments and Financial Position - As of March 31, 2009, total equity amounted to RMB 2,687,393,000, showing a significant increase from previous periods[15] - The company reported a retained profit of RMB 1,755,123,000 as of March 31, 2009, indicating strong profitability[15] - The capital reserve increased to RMB 569,519,000 as of January 1, 2009, demonstrating growth in financial stability[15] - The acquisition of a subsidiary for safety production fund was recorded at RMB 876,000, reflecting strategic investment[15] - The financial assets at FVTOCI showed a loss of RMB 1,233,000, indicating market volatility impacts[15] Corporate Governance and Shareholding - As of March 31, 2019, the company had a total of 205,414,000 shares held by key executives, representing approximately 29.34% of the total issued share capital[83] - Peking University holds 200,000,000 shares, accounting for 28.57% of the total number of issued promoters' shares and 14.50% of the total issued share capital[90] - Beida Asset Management Co., Ltd. also holds 200,000,000 shares, representing 28.57% of the total number of issued promoters' shares and 14.50% of the total issued share capital[90] - The company has no other registered interests or short positions in shares or underlying shares as of March 31, 2019[85] - The interests of Directors and Supervisors are recorded in accordance with the Securities and Futures Ordinance[78] Audit and Compliance - The Audit Committee, comprising four independent non-executive Directors, reviewed the Group's first quarterly results report for the three months ended March 31, 2019[100] - The Audit Committee is responsible for monitoring the financial reporting system and risk management of the Group[99] - The company has established an Audit Committee in compliance with GEM Listing Rules[99] - No competing interests were reported among Directors and Supervisors as of March 31, 2019[96] Product Development and Recognition - The Group's fire safety products received recognition as a "National Product and Service Quality Integrity Demonstration Enterprise" for four consecutive years[47] - The Group has developed dedicated chips for fire safety products, with smoke detectors using these chips undergoing inspection and certification during the period[47] - New subsystem products such as electrical fire system products and fire power monitoring system products have enriched the Group's product portfolio[48] Tourism Development - The Group is engaged in tourism development projects in Hunan Province, including landscape architecture and land development[49] - The Group's tourism development business recorded revenue of approximately RMB27.7 million for the three months ended 31 March 2019, a decrease of 10.9% compared to RMB31.1 million in 2018[54] - The number of tourists and pilgrims using the environmental shuttle bus service at Hengshan Mountain scenic area decreased by 8.8% year-on-year to approximately 0.43 million[53] - The service utilization rate of the Group's environmental bus service was 84% during the review period[53] - The peak season for the Group's tourism development business is expected in the second quarter, with an anticipated increase in visitors during the Labour Day Golden Week and Dragon Boat Festival[57]

Financial Performance - The company reported a total revenue of approximately RMB 1.2 billion for the year 2018, representing a year-on-year increase of 15%[12] - The net profit for 2018 was approximately RMB 150 million, which is a 10% increase compared to the previous year[12] - Future guidance estimates a revenue growth of 18% for 2019, projecting total revenue to reach approximately RMB 1.42 billion[12] - The Group's total revenue for the year increased by 18.2% to approximately RMB1.906 billion (2017: RMB1.613 billion) [17] - Profit attributable to the owners of the Company was approximately RMB147.0 million (2017: RMB170.7 million), representing a decrease of 13.9% compared to the previous year [17] - The Group's profit before tax for the year was RMB405.1 million, a slight decrease from RMB417.6 million in 2017 [14] - Gross profit rose 13.6% year-on-year to approximately RMB841.3 million, with a stable gross profit ratio of 44%[40] - Total operating expenses increased by 16.8% to approximately RMB379.7 million, up from RMB325.2 million in 2017[40] - The Group's share of loss of associates increased to approximately RMB38.8 million in 2018, compared to RMB3.8 million in 2017[40] - The Group's net assets as of December 31, 2018, were approximately RMB2,650.4 million, an increase from RMB2,488.2 million in 2017[52] User Growth and Market Expansion - User data indicated a growth in active users by 20%, reaching a total of 5 million users by the end of 2018[12] - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[12] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share within the next two years[81] - User data showed a growth in active users, reaching 5 million, which is a 20% increase compared to the previous year[81] Product Development and Innovation - New product development includes the launch of a smart device line, expected to contribute an additional RMB 300 million in revenue in 2019[12] - A strategic acquisition was completed, enhancing the company's capabilities in the bioproducts sector, expected to contribute an additional 200 million RMB in revenue annually[71] - New product launches are expected to contribute an additional $200 million in revenue, with a focus on innovative QR code technology applications[80] - The company plans to launch three new products in the upcoming quarter, anticipated to drive a 15% increase in sales[73] - Research and development expenses increased by 12% to 150 million, focusing on AI and machine learning technologies[88] Operational Efficiency and Cost Management - The company aims to improve operational efficiency by 15% through the implementation of advanced analytics and automation technologies[12] - Operational efficiency improved, with a reduction in costs by 5%, contributing to higher profit margins[72] - The Group aims to strengthen its R&D team and optimize personnel composition to improve product quality in the electronic fire equipment business[34] - The Group has implemented strategies including quality control enhancement and stringent cost control to mitigate operational risks[42] Strategic Partnerships and Acquisitions - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market reach[12] - A new strategic partnership has been established with a leading tech firm to co-develop innovative solutions, expected to launch in Q3 2019[12] - The company is exploring potential acquisitions to strengthen its product portfolio, with a budget of $300 million allocated for this purpose[81] Financial Health and Liabilities - The Group's total liabilities increased to RMB818.3 million in 2018, compared to RMB692.3 million in 2017 [14] - The Group's current ratio was 2.49, up from 2.28 in 2017, indicating improved short-term solvency[42] - The Group's gearing ratio was 8.5% in 2018, slightly down from 8.9% in 2017, reflecting stable financial leverage[42] - The absolute amount of trade receivables is expected to increase with the expansion of the Group's operating scale, potentially impacting cash flow[44] Corporate Governance and Compliance - The Company complied with all code provisions of the Corporate Governance Code during the year ended 31 December 2018[151] - The Group confirms compliance with the disclosure requirements under Chapter 20 of the GEM Listing Rules regarding related party transactions[115] - The Company has developed a set of documents to govern its corporate practices in line with the Corporate Governance Code[151] - The Company has maintained the prescribed public float under the GEM Listing Rules as of the date of the annual report[115] Sustainability and Environmental Practices - Future guidance indicates a focus on sustainable practices, with a commitment to reduce carbon emissions by 20% over the next five years[71] - The Group is committed to maintaining high environmental standards and complies with relevant laws and regulations in its operations[52] - The Group's environmental buses are equipped with anti-smoking devices and do not use heavy-duty diesel to reduce pollution[52] Employee and Management Practices - The Group's workforce increased by 13.6% to 2,613 employees at the end of the reporting year, reflecting the Group's growth[60] - Staff costs, including directors' emoluments and retirement benefits, amounted to approximately RMB269.1 million for the year ended 31 December 2018, up from RMB225.1 million in 2017[61] - The Group emphasizes working safety and provides adequate training to its employees[60] - The Group strictly complies with applicable labor laws and offers competitive remuneration packages to its staff[60]