Investment Strategy - The Group completed capital injection into two enterprises, enhancing its financial assets at fair value through other comprehensive income[24]. - New investments focus on semiconductor and new material technology, including sales of semiconductor materials and equipment[24]. - The Group aims to improve operational efficiency and cost structure to promote profitability[25]. - The overall outlook for the industries remains challenging, prompting a prudent investment strategy[25]. - The Group actively expanded its investment holding business, completing investments in two companies in the semiconductor and new materials technology sectors[27]. - The Group will maintain a prudent investment strategy, seeking valuable investment opportunities for stable development and shareholder returns[27]. - The Group will prudently explore investment projects with promising development potential to create better returns for shareholders[66]. - The Group plans to cautiously explore investment opportunities with good development potential while monitoring the performance of its main businesses[69]. - The Group's significant investments include a 6.24% equity interest in Shanghai Xianyao valued at approximately RMB149.8 million, which is 3.5% of total assets, with a fair value increase of approximately RMB49.8 million during the year[115]. Financial Performance - The Group's total revenue for the year ended December 31, 2021, amounted to approximately RMB 394.6 million, a decrease of 15.8% compared to 2020[74]. - Profit attributable to owners of the Company increased by 147.8% to approximately RMB 159.0 million for the year ended December 31, 2021[74]. - The Group maintained a steady gross profit margin of approximately 15% for the year ended December 31, 2021[74]. - For the year ended December 31, 2021, the tourism development business recorded revenue of approximately RMB 110.8 million, representing an increase of 13.8% compared to 2020[67]. - Revenue from the trading of metallic products decreased by 22.5% year-on-year to approximately RMB 273.6 million for the year ended December 31, 2021[73]. - The total assets of the investment holding business increased by 15.6% to approximately RMB 3,172.9 million as of December 31, 2021[68]. - The Group's net assets as of December 31, 2021, were approximately RMB 3,348.5 million, an increase from RMB 3,104.8 million in 2020[100]. - The Group's working capital was reported at RMB11.4 million, with RMB8.0 million utilized and RMB3.4 million unutilized[111]. - The Group's liquidity management involves regular monitoring of current and expected liquidity requirements to ensure sufficient cash reserves for both short-term and long-term needs[89]. Operational Efficiency - The Group plans to continue consolidating existing business development while improving operational efficiency and cost structure to enhance profitability[27]. - The Group's operational risks include potential adverse adjustments in local authority policies related to the tourism industry[82]. - The Group maintains strict control over outstanding trade receivables and regularly monitors customer credit terms to mitigate credit risk[89]. - The Group's exposure to interest rate risk is limited and arises from bank deposits and loans, varying with prevailing market conditions[89]. - The decrease in current ratio and increase in gearing ratio were mainly due to raising additional bank and other loans for business operations during the year[75]. Employee and Workforce Management - The Group expresses gratitude to employees for their contributions during the year[26]. - The Group's staff costs, including directors' emoluments and retirement benefits, amounted to approximately RMB60.5 million for the year ended December 31, 2021, an increase from RMB54.0 million in 2020[124]. - The Group's workforce increased by 10% to 520 employees by the end of the reporting year[123]. - The Group strictly adheres to applicable labor laws and regulations, providing competitive compensation packages and sufficient training for employees[127]. - The management team is committed to maintaining good relationships with employees and fostering a positive work environment[127]. Tourism Development - The number of tourists visiting the Hengshan Mountain scenic area increased by approximately 12% for the year ended December 31, 2021, due to the stabilization of the COVID-19 epidemic[32]. - The service utilization rate of the Group's environmental bus service remained stable at 91% for the year ended December 31, 2021[32]. - The Group's tourism area was temporarily closed from August 8 to August 23, 2021, due to government measures against the COVID-19 epidemic[32]. - The Group's tourism development business performance is expected to be affected by the evolving situation regarding the COVID-19 epidemic[65][66]. - The tourism development business includes providing environmental shuttle bus services and property management services in Hunan Province[31]. Corporate Governance and Compliance - The board of directors includes experienced professionals with backgrounds in technology and finance, enhancing the company's strategic direction[130][135]. - The Group is committed to maintaining high environmental standards and complies with relevant laws regarding emissions and waste management[92]. - The Group operates environmental buses equipped with anti-smoking devices and does not use heavy-duty diesel to reduce pollution[92]. - The Group has established good relationships with customers, primarily tourists and trading partners in metallic products, ensuring quality service delivery[94]. - The Group maintains a close relationship with key suppliers and has regulated procurement procedures to ensure quality and stable pricing[95]. Future Outlook and Guidance - The company provided a forward-looking guidance of 10% revenue growth for the next fiscal year, projecting revenues to reach approximately 1.65 billion RMB[139]. - The company is focused on expanding its market presence and developing new products and technologies[128]. - A strategic acquisition of a local tech firm was announced, aimed at bolstering the company's R&D capabilities in semiconductor technology[139]. - The company plans to invest 200 million RMB in research and development for new technologies in the upcoming fiscal year[139]. - A new marketing strategy focusing on digital channels is expected to increase customer acquisition by 30% over the next year[139].

Financial Performance - Revenue for the nine months ended September 30, 2021, was RMB 328,212,000, a decrease of 7.2% compared to RMB 353,733,000 for the same period in 2020[9] - Gross profit for the nine months ended September 30, 2021, was RMB 49,184,000, representing an increase of 0.7% from RMB 48,860,000 in the previous year[9] - Profit for the period for the nine months ended September 30, 2021, was RMB 125,626,000, down 32.8% from RMB 186,739,000 in the same period of 2020[9] - Profit before tax for the nine months ended September 30, 2021, was RMB 129,029,000, a decrease of 33.5% compared to RMB 194,030,000 for the same period in 2020[9] - Earnings per share for the nine months ended September 30, 2021, was 8.78 cents, down from 13.18 cents in the previous year[11] - Other gains and income for the nine months ended September 30, 2021, totaled RMB 10,999,000, a significant decrease from RMB 102,906,000 in the same period of 2020[9] - The total comprehensive income for the period attributable to owners of the Company was RMB 115,047,000, compared to RMB 197,109,000 in the previous year[11] - The company reported a total comprehensive income for the period of RMB 56,862, compared to RMB 115,047 in the previous period, indicating a decrease of about 50.5%[14] - Total revenue for the nine months ended September 30, 2021, was RMB 236,073,000, down 28.0% from RMB 328,212,000 in the same period of 2020[31] - Profit attributable to owners of the Company decreased by 28.9% to approximately RMB 129.2 million, down from RMB 181.8 million in 2020[63] - The decrease in profit was mainly due to the absence of a gain on disposal of a subsidiary, which was approximately RMB 92.5 million in the corresponding period of 2020[63] Expenses and Costs - Administrative expenses for the nine months ended September 30, 2021, were RMB 44,955,000, down from RMB 49,616,000 in the previous year[9] - Finance costs for the nine months ended September 30, 2021, increased to RMB 18,215,000 from RMB 15,583,000 in the same period of 2020[9] Revenue Breakdown - Revenue from contracts with customers is primarily derived from the transfer of goods and services at a point in time, with certain travel and leisure services recognized over time[30] - Revenue from travel and leisure services for Q3 2021 was RMB 30,974,000, down 30.8% from RMB 44,667,000 in Q3 2020[31] - Revenue from sales of wine and related products for Q3 2021 was RMB 2,734,000, a decrease of 18.9% compared to RMB 3,371,000 in Q3 2020[31] - Revenue from sales of metallic products for Q3 2021 was RMB 91,978,000, a decline of 26.8% from RMB 125,686,000 in Q3 2020[31] - Revenue from the Group's trading of metallic products amounted to approximately RMB236.1 million, a decrease of 15.3% year-on-year from RMB278.7 million in 2020[77] - The gross margin for the metallic products trading business was 2.2%, slightly down from 2.4% in 2020[77] - The Group's winery, The Winery at la Grange, generated revenue of approximately RMB7.8 million, remaining stable compared to RMB8.2 million in 2020[78] - For the nine months ended 30 September 2021, the Group's tourism development business recorded revenue of approximately RMB84.3 million, representing an increase of 26.1% compared to RMB66.8 million in the corresponding period of 2020[14] Equity and Investments - As of September 30, 2021, total equity reached RMB 3,311,098, an increase from RMB 3,104,836 as of January 1, 2021, reflecting a growth of approximately 6.67%[14] - The company acquired a subsidiary during the period, contributing RMB 34,358 to total equity[14] - The Group acquired a 2% equity interest in Chuanqi Cultural for RMB 1 in cash and a capital contribution commitment of RMB 1,400,000 in June 2021[65] - Following the acquisition, the Group held a total of 51% indirect interest in Chuanqi Cultural, which became a subsidiary[65] - The net assets disposed of from Chuanqi Tourism were valued at RMB 132.57 million during its sale[59] - The gain on disposal of Chuanqi Tourism was RMB 92.487 million, with the consideration being RMB 172.029 million[59] - The Company agreed to inject RMB100 million into Shanghai Xianyao, acquiring approximately 6.80% equity interest in the company[71] - The Company also agreed to inject RMB50 million into Eta Semiconductor Technology, acquiring approximately 10.00% equity interest[75] Shareholder Information - The company reported that the interests of directors and supervisors in shares included 205,414,000 shares, representing approximately 29.34% of the total issued shares[102] - Peking University and its controlled corporations hold an interest of 200,000,000 shares, accounting for approximately 28.57% of the total issued shares[110] - The total number of issued H shares increased from 678.72 million to 814.46 million due to the completion of a placing of new H shares on March 30, 2021[119] - Grand East (H.K.) Limited owns 110 million non-listed shares, representing approximately 15.71% of the total issued non-listed shares[116] - Heng Huat Investments Limited has a controlled interest in 205.41 million non-listed shares, accounting for 29.34% of the total issued non-listed shares[116] - Mongolia Energy Corporation holds 84.59 million non-listed shares, which is approximately 12.08% of the total issued non-listed shares[116] - Asia Investment Fund Co. Ltd. owns 126.23 million H shares, representing 15.50% of the total issued H shares[116] Corporate Governance - The Audit Committee has reviewed the Group's third quarterly results report for the nine months ended September 30, 2021, and agreed on its contents[129] - The Company has established the Audit Committee in compliance with GEM Listing Rules, focusing on financial reporting and risk management[128] - The Company is committed to maintaining the independence of external auditors as advised by the Audit Committee[128] - The Company has not reported any conflicts of interest with its Directors as of the reporting date[125] - No Directors or their associates have any interests in businesses that compete or may compete with the Group as of September 30, 2021[125] - The Company has not purchased, redeemed, or sold any of its listed securities during the nine months ended September 30, 2021[123] - The Company has no competing interests from Directors and Supervisors as of September 30, 2021[122] - The report was issued on November 8, 2021, by the Chairman, Mr. Ni Jinlei[135]

Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 202,526,000, an increase of 8.5% compared to RMB 187,118,000 for the same period in 2020[9]. - Gross profit for the six months ended June 30, 2021, was RMB 34,710,000, representing a significant increase of 173.5% from RMB 12,673,000 in the prior year[9]. - Profit before tax for the six months ended June 30, 2021, was RMB 73,965,000, up 130.5% from RMB 32,014,000 in the same period of 2020[9]. - Profit for the period increased to RMB 71,228,000 for the six months ended June 30, 2021, compared to RMB 31,936,000 for the same period in 2020, marking a growth of 123.5%[9]. - Other gains and income for the six months ended June 30, 2021, totaled RMB 7,891,000, compared to RMB 1,687,000 in the same period of 2020, reflecting a growth of 367.5%[9]. - Total comprehensive income for the period was RMB 69,872,000, compared to RMB 64,294,000 in the same period of 2020, showing an increase of 8.0%[12]. - The profit attributable to the owners of the company for the three months ended June 30, 2021, was RMB 55,247,000, an increase of 16% compared to RMB 47,422,000 for the same period in 2020[15]. - Total comprehensive income for the period attributable to the owners of the company was RMB 48,545,000, down 38% from RMB 78,915,000 in the previous year[15]. - Basic earnings per share for the six months ended June 30, 2021, was RMB 49.2 cents, up from RMB 26.1 cents in 2020, marking an increase of about 88%[79]. Assets and Liabilities - Non-current assets increased to RMB 3,338,526,000 as of June 30, 2021, from RMB 3,106,910,000 at the end of 2020, representing a growth of approximately 7.4%[18]. - Current assets rose to RMB 764,932,000, up from RMB 555,602,000 at the end of 2020, indicating an increase of about 37.6%[18]. - Total assets reached RMB 4,103,458,000, compared to RMB 3,662,512,000 at the end of 2020, marking an increase of approximately 12%[18]. - The company's net current assets improved to RMB 499,053,000, up from RMB 363,151,000 at the end of 2020, reflecting a growth of about 37.5%[21]. - The equity attributable to owners of the company increased to RMB 3,082,642,000 from RMB 2,955,694,000 at the end of 2020, showing a rise of approximately 4.3%[21]. - The Group's total liabilities increased to RMB 130,269,000 as of June 30, 2021, compared to RMB 57,141,000 as of December 31, 2020, reflecting a significant increase of approximately 128.3%[96]. Cash Flow - For the six months ended June 30, 2021, net cash generated from operating activities was RMB 3,622,000, a significant improvement compared to a net cash used of RMB 120,726,000 in the same period of 2020[26]. - The company reported a net cash used in investing activities of RMB 73,976,000 for the six months ended June 30, 2021, compared to RMB 5,396,000 in the prior year, indicating increased investment activity[26]. - Net cash generated from financing activities was RMB 105,864,000 for the six months ended June 30, 2021, slightly down from RMB 106,948,000 in 2020[26]. - The company’s cash and cash equivalents at the end of the period were RMB 153,762,000, up from RMB 138,540,000 in the same period last year[26]. - The Group's total outstanding borrowings amounted to approximately RMB 626.8 million, with a gearing ratio of 21.2% as of June 30, 2021[148]. Segment Performance - Revenue from travel and leisure services for the three months ended June 30, 2021, was RMB 30,969,000, up 90.9% from RMB 16,240,000 in 2020[42]. - Segment profit for the tourism development segment was RMB 17,447,000 for the six months ended June 30, 2021, compared to a loss of RMB 4,126,000 in the same period of 2020[55]. - The tourism development business recorded revenue of approximately RMB53.3 million for the six months ended June 30, 2021, representing a 140.5% increase compared to RMB22.2 million in the same period of 2020[128]. Investments and Acquisitions - The Group acquired a 2% equity interest in Chuanqi (Hunan) Cultural Tourism Company Limited for RMB 1, along with a capital contribution commitment of RMB 1,400,000, resulting in a total indirect interest of 51%[104]. - The Group agreed to inject RMB100 million into Shanghai Xianyao Display Technology Co., Ltd., acquiring approximately 6.80% equity interest in the company[131]. Corporate Governance - The company confirmed that the information in the report is accurate and complete in all material respects, ensuring transparency and accountability[6]. - The company has not early applied new and revised HKFRSs that have been issued but are not yet effective, indicating a cautious approach to accounting changes[35]. - The Company has complied with all code provisions of the Code on Corporate Governance Practices during the six months ended June 30, 2021[196]. Shareholder Information - The interests of directors and supervisors in the company’s shares were recorded, with one supervisor holding 205,414,000 shares, representing approximately 29.34% of the issued shares[177]. - The total number of issued H shares increased from 678,720,000 to 814,464,000 due to the completion of a placing of new H shares on March 30, 2021[190].

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]