Financial Performance - For the first quarter of 2025, the company reported revenue of RMB 19,458,000, an increase of 17.4% compared to RMB 16,568,000 in the same period of 2024[6] - The gross profit for the same period was RMB 5,571,000, representing a 33.7% increase from RMB 4,164,000 year-over-year[6] - The net profit attributable to the company's shareholders was RMB 999,000, up from RMB 156,000, indicating a significant growth[6] - The earnings per share (EPS) for the first quarter was RMB 0.53, compared to RMB 0.08 in the previous year, reflecting a substantial improvement[6] - The group's revenue for the three months ended March 31, 2025, was RMB 19,951,000, an increase of 13.1% compared to RMB 17,513,000 for the same period in 2024[14] - For the three months ending March 31, 2025, the company recorded a basic earnings per share of approximately RMB 5.33, compared to RMB 0.83 for the same period in 2024, representing a significant increase[20] - The total revenue for the three months ending March 31, 2025, was approximately RMB 19,458,000, an increase of 17% compared to RMB 16,568,000 for the same period in 2024[24] - The overall gross profit for the same period was approximately RMB 5,571,000, with a gross profit margin of 24%, up from 19% in the previous year[25] - The company recorded a pre-tax profit of approximately RMB 1,996,000 for the three months ending March 31, 2025, compared to RMB 1,578,000 for the same period in 2024[30] Expenses and Income - The company incurred selling and distribution expenses of RMB 1,073,000, which is an increase from RMB 732,000 in the same quarter last year[6] - Administrative expenses rose to RMB 2,936,000 from RMB 2,694,000, indicating a 9% increase year-over-year[6] - The company reported other income of RMB 493,000, down from RMB 945,000 in the previous year, showing a decline in this area[6] - Financial expenses decreased slightly to RMB 59,000 from RMB 71,000, indicating improved cost management[6] - Other income and gains decreased to approximately RMB 493,000, a decline of 47% compared to RMB 945,000 in the same period last year[26] - Selling and distribution expenses increased to approximately RMB 1,073,000, a rise of 47% from RMB 732,000 in the previous year[27] - Administrative expenses rose to approximately RMB 2,936,000, reflecting a 9% increase from RMB 2,694,000 in the same period last year[28] - Financial expenses were approximately RMB 59,000, a decrease from RMB 71,000 in the previous year, primarily due to interest on bank loans[29] Business Strategy and Outlook - The company is focused on expanding its market presence and enhancing product development strategies to drive future growth[6] - The management expressed optimism about future performance, citing ongoing investments in new technologies and market expansion initiatives[6] - The company continues to focus on expanding its business in the production and sale of firefighting equipment and related services[13] - The company is optimistic about the growth potential of a significant acquisition announced on December 8, 2024, related to fire safety training services[36] - The company aims to consolidate the acquired group into a wholly-owned subsidiary to provide comprehensive fire safety training solutions, enhancing its existing product and service offerings[36] - The company maintains confidence in its ability to achieve sustainable growth through organic expansion, strategic acquisitions, and continuous innovation[37] - The company will continue to monitor market trends and regulatory changes to maintain its competitive advantage[38] - The company plans to evaluate opportunities for mergers and reorganizations to optimize resources and enhance profitability[38] Corporate Governance and Compliance - The group has maintained consistent accounting policies in line with the International Financial Reporting Standards for the reporting period[11] - The group has not applied any new standards or interpretations that have not yet come into effect during the reporting period[12] - The group’s financial statements have been reviewed by the audit committee but are unaudited[18] - The audit committee has reviewed the unaudited financial results for the three months ending March 31, 2025, and provided recommendations and opinions[51] - The company has adhered to all corporate governance rules as stipulated in the GEM listing rules during the reporting period[47] - The company has established an audit committee to oversee financial reporting procedures and internal control systems[50] - The company has implemented a set of guidelines for directors conducting securities transactions, ensuring compliance with GEM listing rules[49] - The company has maintained transparency in disclosing information to shareholders and respecting their rights[48] Shareholder Information - The company reported a total of 131,870,000 shares held by its major shareholder, representing approximately 70.36% of the registered capital[43] - Major shareholders include Zhejiang Hengtai, which holds an 80% stake in the company, and Mr. Zhou Jinhui, who holds a 20% stake[44] - The company has not disclosed any significant contracts involving its directors and supervisors that would affect its business as of March 31, 2025[45] - The company has not reported any changes in the ownership of shares exceeding 5% as of March 31, 2025[43] - The report is published on the company's website and will be available for at least seven consecutive days starting from the report date[52] Product and Market Developments - The company will cease manufacturing and selling fire extinguishers starting April 1, 2025, due to ongoing losses in this product line[35] - The company has received product type recognition certificates for its fire extinguisher products from the China Classification Society, enhancing its competitiveness in domestic and export markets[34] - The company’s pressure vessels are manufactured under valid licenses in China and comply with quality standards in the US and EU[34] - The company is committed to strict quality standards, establishing itself as a reliable supplier of comprehensive fire safety solutions in a competitive industry[35]

Financial Performance - Revenue for the first quarter ended March 31, 2025, was RMB 19,458,000, an increase of 17.4% compared to RMB 16,568,000 in the same period of 2024[5]. - Gross profit for the same period was RMB 5,571,000, representing a gross margin of approximately 28.6%[5]. - Net profit for the first quarter was RMB 1,686,000, compared to RMB 1,085,000 in the previous year, indicating a year-over-year increase of 55.5%[5]. - Basic earnings per share for the quarter was RMB 0.53, up from RMB 0.08 in the same quarter last year[5]. - The group's revenue for the three months ended March 31, 2025, was RMB 19,951,000, an increase from RMB 17,513,000 for the same period in 2024, representing a growth of approximately 13.9%[13]. - The overall gross profit for the three months ending March 31, 2025, was approximately RMB 5,571,000, up from RMB 4,164,000 for the same period last year, with a gross profit margin of 24%, compared to 19% in the previous year, driven by higher sales of high-margin marine firefighting equipment[24]. Revenue Breakdown - Revenue from the sale of pressure vessels was RMB 6,707,000, up from RMB 5,563,000, indicating a growth of about 20.5% year-over-year[13]. - Revenue from the sale of water-related products reached RMB 7,161,000, compared to RMB 6,755,000 in the previous year, reflecting an increase of approximately 6.0%[13]. - The group generated RMB 2,947,000 from the sale of marine firefighting equipment, significantly higher than RMB 1,452,000 in the prior year, marking a growth of around 103.5%[13]. - The total rental income amounted to RMB 1,876,000, compared to RMB 1,769,000 in the previous year, showing an increase of about 6.0%[13]. Expenses and Income - Selling and distribution expenses increased to RMB 1,073,000 from RMB 732,000, reflecting a rise of 46.7%[5]. - Administrative expenses rose to RMB 2,936,000 compared to RMB 2,694,000, marking an increase of 9%[5]. - The company reported other income of RMB 493,000, down from RMB 945,000 in the previous year[5]. - Other income and gains decreased from RMB 945,000 to approximately RMB 493,000, a reduction of 47% compared to the same period last year[25]. - Financial expenses were approximately RMB 59,000, down from RMB 71,000 in the same period last year, mainly related to interest on bank loans[28]. Future Outlook and Strategy - The company has not provided specific guidance for future quarters but indicated a focus on market expansion and new product development[5]. - The company is committed to enhancing its research and development capabilities to drive innovation in its product offerings[5]. - The overall market environment remains challenging, but the company is optimistic about future growth opportunities[5]. - The company plans to cease the manufacturing and sale of fire extinguishers starting April 1, 2025, due to ongoing losses from this product line[33]. - The company remains optimistic about the growth potential of its newly announced fire safety training business following a significant acquisition[35]. - The company is committed to sustainable growth through organic expansion, strategic acquisitions, and continuous innovation[36]. - The group will continue to monitor market trends and regulatory changes to identify new opportunities for maintaining competitive advantages[37]. - As part of strategic review, the group will assess opportunities for mergers and reorganizations, and may divest non-core or underperforming business segments to optimize resources and enhance profitability[37]. Corporate Governance - The company has adhered to all corporate governance rules as per GEM listing regulations[47]. - The company is committed to enhancing corporate governance to improve decision-making processes and risk management[48]. - A securities trading code of conduct has been adopted, ensuring compliance with GEM listing standards[49]. - The Audit Committee has been established to oversee financial reporting and internal control systems[50]. - The Audit Committee reviewed the unaudited performance for the three months ending March 31, 2025, and provided recommendations[50]. Shareholder Information - As of March 31, 2025, major shareholder Zhou Jinhui holds 71.05% of the company's shares, indicating significant insider ownership[39]. - The company has pledged 131,870,000 shares as collateral for a loan of RMB 198 million, which represents approximately 70.36% of the issued share capital[44]. - The group maintains a strong financial position and diverse business portfolio, which enhances its resilience against macroeconomic challenges[37].

Financial Performance - The group recorded total revenue of approximately RMB 84,460,000 for the year ending December 31, 2024, an increase from RMB 74,137,000 in 2023, representing a growth of about 13.9%[4][5] - The profit attributable to the owners of the company for the same period was approximately RMB 4,350,000[4] - The increase in revenue of approximately RMB 10,323,000 from the previous year indicates a positive trend in sales performance[5] - The overall gross profit for the year ending December 31, 2024, was approximately RMB 25,068,000, with a gross profit margin of 29.7%, stable compared to 29.1% for the previous year[13] - The company reported a profit attributable to owners of the company of approximately RMB 4,350,000 for the year ending December 31, 2024, down from RMB 8,521,000 the previous year, primarily due to goodwill impairment related to marine firefighting equipment[20] - Revenue for the year ended December 31, 2024, was RMB 84,460,000, an increase of 13.5% from RMB 74,137,000 in 2023[170] - Gross profit for 2024 was RMB 25,068,000, representing a gross margin of 29.6%, compared to RMB 21,550,000 in 2023[170] - The company reported a net profit of RMB 9,868,000 for 2024, down 13.9% from RMB 11,477,000 in 2023[171] - Basic and diluted earnings per share for 2024 were RMB 2.32, a decrease from RMB 4.55 in 2023[170] Expenses and Costs - Other income and gains decreased from approximately RMB 4,950,000 for the year ending December 31, 2023, to approximately RMB 4,279,000 for the year ending December 31, 2024, primarily due to a reduction in interest income[14] - Selling and distribution expenses increased by approximately 15.7%, from RMB 3,096,000 to about RMB 3,581,000, mainly due to rising transportation and employee costs[15] - Administrative expenses rose by 28.9%, from approximately RMB 11,291,000 to RMB 14,555,000, attributed to increased general administrative costs and legal and professional fees[16] - Financial expenses decreased by approximately 36.4%, from RMB 368,000 to RMB 234,000, mainly due to a decline in interest rates charged by banks[17] - Total administrative expenses increased to RMB 14,555,000 in 2024 from RMB 11,291,000 in 2023, reflecting a rise of 29.9%[170] Assets and Liabilities - As of December 31, 2024, the group's current assets amounted to RMB 178,674,000, resulting in a current ratio of 12.9, an increase from 11.9 as of December 31, 2023[21] - Trade receivables increased by 52.7% to approximately RMB 15,627,000, primarily due to increased sales of aquarium products and marine firefighting equipment[21] - The group's debt-to-equity ratio improved to 16.4% as of December 31, 2024, down from 18.9% as of December 31, 2023, indicating enhanced financial stability[22] - The net asset value of the group was approximately RMB 173,943,000 as of December 31, 2024, compared to RMB 163,024,000 as of December 31, 2023[28] - The company's total liabilities decreased from RMB 30,890,000 to RMB 29,467,000, a reduction of approximately 4.6%[173] Corporate Governance - The company has a board of directors consisting of six members, including three executive directors and three independent non-executive directors, with meetings held seven times in 2024 to discuss strategic and financial matters[42] - The audit committee held five meetings in 2024 to review the consolidated financial statements and discuss the company's financial performance and internal audit matters[48] - The company has adopted the GEM Listing Rules Appendix 15 corporate governance code, ensuring responsible decision-making and transparency in shareholder communications[40] - The company’s management team has been tasked with reviewing internal controls and risk management systems annually to ensure they meet expected goals[44] - The company has ensured compliance with the GEM Listing Rules regarding securities trading by its directors[41] Employee and Labor Relations - The group had 98 employees as of December 31, 2024, an increase from 84 employees in the previous year[29] - Employee turnover rate for the year is 17%, with 28% for males and 3% for females[86] - 50% of executive directors and senior management received training this year, with an average training hours of 20 for both male and female employees[93] - No work-related fatalities have occurred in the past three years, and there were no lost workdays due to occupational injuries[90] - The company provides competitive employment benefits, including discretionary bonuses and medical insurance, to attract and retain talent[85] Environmental, Social, and Governance (ESG) - The company is committed to environmental, social, and governance (ESG) practices, adhering to national regulations and promoting sustainable development[62] - The board of directors actively participates in overseeing ESG matters and has set annual environmental protection goals focused on eco-friendliness and energy conservation[61] - The company has implemented a diversity policy for board members, considering various factors such as gender, age, and professional experience[54] - The company emphasizes resource efficiency and has established a framework to systematically optimize resource usage[75] - The company supports the "3R" waste hierarchy (Reduce, Reuse, Recycle) to minimize waste generation[68] Shareholder Information - As of December 31, 2024, Mr. Zhou Jinhui holds 133,170,000 shares, representing approximately 71.05% of the total issued share capital[137] - The major shareholder, Liancheng Fire Group Co., Ltd., owns 131,870,000 shares, accounting for about 70.36% of the registered share capital[139] - The company has not provided any indemnity provisions for directors' liabilities during the year[134] - The company re-elected its directors on June 30, 2023, with terms lasting until the 2026 annual general meeting[132] Financial Reporting and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and comply with relevant Hong Kong regulations[185] - The company has adopted revised International Financial Reporting Standards, which did not impact its financial position or performance[189] - The group plans to apply the newly issued and amended IFRS standards when they become effective, as applicable[191] - The company adopts the acquisition method for business combinations, measuring the transferred consideration at fair value on the acquisition date[199] - Goodwill is initially measured as the excess of the transferred consideration, recognized non-controlling interest, and the fair value of previously held equity interests over the net identifiable assets acquired[200]

Financial Performance - The company reported total revenue of RMB 484.46 million for the fiscal year ending December 31, 2024, compared to RMB 741.37 million in the previous year, representing a decrease of approximately 34.7%[5] - Gross profit for the year was RMB 25.07 million, up from RMB 21.55 million, indicating an increase of about 16.5%[5] - The net profit for the year was RMB 9.87 million, down from RMB 11.48 million, reflecting a decline of approximately 13.2%[6] - Basic earnings per share decreased to RMB 2.32 from RMB 4.55, a drop of about 48.9%[5] - The total comprehensive income for the year was RMB 9.87 million, down from RMB 11.48 million, indicating a decrease of approximately 13.2%[6] Income and Expenses - The company recorded other income and gains of RMB 4.28 million, compared to RMB 4.95 million in the previous year, a decrease of approximately 13.5%[5] - Administrative expenses increased to RMB 14.56 million from RMB 11.29 million, representing a rise of about 29.9%[5] - The company recognized an impairment loss on goodwill of RMB 1.89 million, which was not present in the previous year[5] - Sales and distribution expenses increased from RMB 3,096,000 to approximately RMB 3,581,000, reflecting a growth of about 15.7% due to rising transportation and employee costs[78] - Administrative expenses rose to approximately RMB 14,555,000 for the fiscal year ending December 31, 2024, a 28.9% increase from RMB 11,291,000 for the previous year, driven by higher general administrative costs and legal and professional fees[79] Assets and Liabilities - As of December 31, 2024, total non-current assets amounted to RMB 23,752,000, while in 2023, it was RMB 26,878,000, reflecting a decrease of approximately 7.9%[8] - Current assets increased to RMB 178,674,000 in 2024 from RMB 167,036,000 in 2023, representing a growth of about 6.5%[8] - Total liabilities for current liabilities decreased slightly from RMB 13,975,000 in 2023 to RMB 13,799,000 in 2024, indicating a reduction of approximately 1.3%[9] - The net value of current assets rose to RMB 164,875,000 in 2024, compared to RMB 153,061,000 in 2023, marking an increase of around 7.6%[8] - Total equity increased from RMB 163,024,000 in 2023 to RMB 173,943,000 in 2024, showing a growth of approximately 6.7%[9] Cash Flow and Financing - The company reported cash and cash equivalents of RMB 148,426,000 in 2024, up from RMB 143,391,000 in 2023, which is an increase of about 3.5%[8] - The total value of non-current liabilities decreased from RMB 16,915,000 in 2023 to RMB 14,684,000 in 2024, reflecting a decline of approximately 13.2%[9] - The company's total assets decreased from RMB 188,627,000 in 2023 to RMB 179,939,000 in 2024, indicating a decrease of about 4.6%[8] - The company has a revolving credit facility of RMB 8,276,000 with a Chinese bank, of which RMB 5,790,000 was drawn down, with a repayment term of three years[62] Equity Interests and Subsidiaries - The company reported a total registered capital of RMB 70 million for Shanghai Tie An Pressure Vessel (Group) Co., with a direct equity interest of 90%[15] - Shanghai Anhang Marine Fire Equipment Co. has a registered capital of RMB 5 million and a direct equity interest of 90%, focusing on sales of marine fire equipment and related installation and testing services[15] - The company holds a 90% direct equity interest in Shanghai Liming Fire Testing Co., which provides fire technology testing services, with a registered capital of RMB 5 million[15] - Shanghai Yuanpeng International Trade Co. has a registered capital of RMB 5 million and a 99% indirect equity interest, engaged in trading pressure vessels and other products[15] - The company has a 59.4% indirect equity interest in Shanghai High Pressure Special Cylinder Co., with a registered capital of RMB 19.17 million, focusing on leasing industrial properties[15] Financial Reporting Standards - The financial statements are prepared in accordance with International Financial Reporting Standards and comply with the applicable disclosure requirements of the GEM Listing Rules[17] - The company has adopted revised International Financial Reporting Standards for the first time in the current financial year[22] - The group plans to apply new and revised International Financial Reporting Standards when they become effective, as applicable[25] - International Financial Reporting Standard (IFRS) 18 introduces new presentation requirements for income statements, categorizing all income and expenses into five categories: operating, investing, financing, income tax, and discontinued operations[27] Segment Performance - The company operates six reportable segments: Firefighting Equipment, Aquatic Products, Marine Firefighting Equipment, Testing Services, Property Investment, and Trading[36] - Adjusted profit/loss before tax is used to evaluate segment performance, excluding interest income, government grants, and certain financial assets[34] - The segment revenue from external customers for firefighting equipment was RMB 23,447,000, while for aquatic products it was RMB 27,315,000, indicating a shift in revenue distribution[38] Employee and Management - The group had 98 employees as of December 31, 2024, compared to 84 employees in 2023, reflecting a growth of approximately 16.67%[95] - The company’s total compensation for key management personnel during the period was approximately RMB 372,000, compared to RMB 356,000 in the previous year[75] Market Outlook and Strategy - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[5] - Future guidance indicates a cautious outlook due to market volatility and potential risks associated with investments in small and medium-sized enterprises listed on GEM[5] - The company remains confident in its ability to achieve sustainable growth through organic expansion, strategic acquisitions, and continuous innovation[100] - The board is committed to leveraging the group’s strong market position and expanding its product and service range to maximize shareholder value[101]

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Financial Performance - For the nine months ended September 30, 2024, the company reported revenue of RMB 62,515,000 (up 10.4% from RMB 56,344,000 in the same period of 2023) [3] - Gross profit for the same period was RMB 18,081,000, representing a 13.9% increase compared to RMB 15,872,000 in 2023 [3] - The company recorded a net profit attributable to owners of the company of RMB 5,492,000, which is a 34.7% increase from RMB 4,078,000 in the previous year [3] - Basic earnings per share for the nine months was RMB 2.93, up from RMB 2.18 in the same period last year, reflecting a 34.4% increase [3] - The group's revenue for the nine months ended September 30, 2024, was RMB 65,501,000, compared to RMB 59,040,000 for the same period in 2023, representing an increase of approximately 10.5% [7] - The group's total income, including other income and gains, was RMB 23,809,000 for the three months ended September 30, 2024, compared to RMB 20,418,000 for the same period in 2023, reflecting a growth of about 11.7% [8] - The group's profit for the period was approximately RMB 8,403,000, representing a 267% increase from RMB 6,632,000 in the same period last year [27] Expenses and Costs - Administrative expenses decreased to RMB 8,097,000 from RMB 8,050,000, indicating a slight reduction in operational costs [3] - The pre-tax profit for the group for the nine months ended September 30, 2024, was impacted by various expenses, including RMB 2,376,000 in employee costs and RMB 133,000 in depreciation of properties, plants, and equipment [8] - The company's selling and distribution expenses for the nine months ended September 30, 2024, were approximately RMB 2,727,000, an increase of about 20% from RMB 2,273,000 for the same period in 2023 [22] - The group's financial expenses for the period were approximately RMB 288,000, a decrease of 6.5% compared to RMB 308,000 in the same period last year [24] Income and Gains - The company’s total other income and gains for the nine months was RMB 2,986,000, compared to RMB 2,696,000 in the same period of 2023, marking an increase of 10.8% [3] - Other income and gains for the nine months ended September 30, 2024, were approximately RMB 2,986,000, an increase of about 10.8% compared to RMB 2,696,000 for the same period in 2023 [21] - The group reported a net interest income of RMB 111,000 for the three months ended September 30, 2024, compared to RMB 95,000 for the same period in 2023, indicating a year-over-year increase of approximately 16.8% [7] Taxation - The group has not recognized any taxable profits in Hong Kong for the nine months ended September 30, 2024, resulting in no provisions for Hong Kong profits tax [9] - The group’s estimated taxable profits for other companies were calculated at a corporate income tax rate of 25% for the nine months ended September 30, 2024 [10] - The group’s total tax expense for the nine months ended September 30, 2024, was RMB 1,273,000, compared to RMB 866,000 for the same period in 2023, reflecting an increase of approximately 47% [11] Market and Business Strategy - The company is focused on expanding its market presence in the production and sales of pressure vessels and firefighting equipment [4] - The company continues to invest in new product development and technology to enhance its service offerings [4] - The company is evaluating growth opportunities in the firefighting industry to enhance profitability and establish a significant position in manufacturing and sales of firefighting equipment and services in China [30] - The company aims to leverage recent government policies on industrial and fire safety measures to create a favorable environment for its long-term strategic goals [30] Corporate Governance - The company is committed to good corporate governance, ensuring transparency and respect for shareholder rights [39] - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the nine months ending September 30, 2024 [41] - The company has adhered to all corporate governance code provisions as of September 30, 2024 [39] - The company has confirmed that all disclosed information is accurate and complete, with no misleading or fraudulent elements [42] Shareholder Information - The company has a total of 131,870,000 shares held by Union City, representing approximately 70.36% of the total issued share capital [33] - Union City also holds 1,300,000 H shares, accounting for about 0.69% of the total issued share capital [33] - Zhejiang Hengtai owns 80% of Union City, thus holding a significant stake in the company [34] - As of September 30, 2024, the pledged shares represent approximately 70.36% of the company's issued share capital [35] - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending September 30, 2024 [38] - No other individuals were reported to hold 5% or more of the relevant interests in the company as of September 30, 2024 [36] Future Outlook - The company anticipates a strong finish to 2024, driven by sustained sales momentum [29] - The board believes that the economic outlook for China in 2024 and 2025 remains promising despite challenges in 2023 [30] - The group has successfully increased sales in pressure vessels, aquatic products, and testing services despite a decline in sales of marine firefighting equipment [29] - The group has received product type approval certificates for its fire extinguisher products from the China Classification Society, indicating compliance with quality standards [29]

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of approximately RMB 39,571,000, an increase of about RMB 2,524,000 or approximately 6.8% compared to the same period in 2023[3]. - The company's profit attributable to equity holders for the six months ended June 30, 2024, was approximately RMB 3,773,000, an increase from RMB 2,136,000 in the same period of 2023[3]. - The basic and diluted earnings per share for the six months ended June 30, 2024, were both RMB 2.01, compared to RMB 0.87 for the same period in 2023[4]. - The gross profit for the six months ended June 30, 2024, was RMB 11,839,000, compared to RMB 9,391,000 for the same period in 2023[4]. - The total comprehensive income for the six months ended June 30, 2024, was RMB 5,265,000, compared to RMB 2,372,000 for the same period in 2023[5]. - The company reported a pre-tax profit of RMB 6,236,000 for the six months ended June 30, 2024, compared to RMB 2,828,000 for the same period in 2023[4]. - The adjusted profit before tax for the group was RMB 6,236 thousand for the six months ended June 30, 2024[18]. - The group’s profit for the period was approximately RMB 5,265,000, a significant increase of 122% from RMB 2,372,000 year-on-year, attributed to higher sales in aquatic products and pressure vessels[50]. Expenses and Costs - The company incurred selling and distribution expenses of RMB 1,794,000 for the six months ended June 30, 2024, compared to RMB 1,437,000 for the same period in 2023[4]. - The administrative expenses for the six months ended June 30, 2024, were RMB 5,186,000, compared to RMB 4,912,000 for the same period in 2023[4]. - Selling and distribution expenses rose by approximately 25% to RMB 1,794,000 from RMB 1,437,000 year-on-year, driven by increased sales in aquatic products and pressure vessels[46]. - Administrative expenses increased by approximately 6% to RMB 5,186,000 from RMB 4,912,000 year-on-year, mainly due to higher general administrative costs[47]. - Employee costs (excluding directors' remuneration) for the six months ended June 30, 2024, were RMB 4,442,000, compared to RMB 4,134,000 for the same period in 2023, marking an increase of approximately 7.5%[25]. Assets and Liabilities - Non-current assets total value decreased from RMB 26,878 million to RMB 26,032 million, a decline of approximately 3.15%[6]. - Current assets increased from RMB 167,036 million to RMB 175,746 million, an increase of approximately 5.25%[6]. - Current liabilities increased from RMB 13,975 million to RMB 17,715 million, an increase of approximately 26.00%[6]. - Total assets of the group amounted to RMB 201,778 thousand as of June 30, 2024[18]. - Total liabilities of the group were RMB 32,569 thousand as of June 30, 2024[18]. - The group has outstanding bank borrowings of approximately RMB 5,790,000 as of June 30, 2024, unchanged from December 31, 2023[54]. - The capital debt ratio remained stable at 19% as of June 30, 2024, consistent with December 31, 2023[55]. Cash Flow - Net cash flow from operating activities was negative RMB 1,157 million, compared to positive RMB 3,030 million in the previous year[11]. - Cash and cash equivalents decreased from RMB 143,391 million to RMB 141,825 million, a decrease of approximately 1.09%[11]. Inventory and Receivables - The company reported a significant increase in inventory from RMB 8,490 million to RMB 12,710 million, an increase of approximately 49.00%[6]. - Trade receivables increased from RMB 10,231 million to RMB 14,963 million, an increase of approximately 46.00%[6]. - As of June 30, 2024, accounts receivable amounted to RMB 15,821,000, compared to RMB 10,505,000 as of December 31, 2023, indicating a significant increase[33]. - The five largest outstanding balances accounted for 59% of total accounts receivable as of June 30, 2024, highlighting a significant credit concentration risk[34]. - The company has maintained strict control over overdue receivables to minimize credit risk, with senior management regularly reviewing overdue balances[33]. Corporate Governance and Compliance - The company has complied with all corporate governance rules as per GEM Listing Rules throughout the year[70]. - The company has established a strong corporate governance framework aimed at enhancing decision-making processes and improving business performance[71]. - A Securities Trading Code of Conduct has been adopted, ensuring compliance with GEM listing rules regarding trading standards[72]. - The Audit Committee, composed of three independent non-executive directors, has reviewed the unaudited financial statements for the six months ending June 30, 2024[73]. Market Strategy and Future Plans - The company has a strong focus on expanding its market presence and enhancing product offerings, although specific new products or technologies were not detailed in the report[3]. - The company continues to monitor market trends and potential acquisition opportunities to drive future growth[3]. - The company has plans for market expansion and new product development, although specific details were not disclosed in the financial summary[12]. - The company is focusing on enhancing its operational efficiency and exploring potential mergers and acquisitions to strengthen its market position[12]. - The company plans to explore opportunities for developing and acquiring profitable businesses to enhance profitability and market share in the firefighting equipment sector in China[61].

Financial Performance - Revenue for the first quarter of 2024 reached RMB 16,568,000, an increase of 5.7% compared to RMB 15,676,000 in the same period of 2023[8] - Gross profit for the quarter was RMB 4,164,000, representing a gross margin of 25.1%, up from RMB 3,804,000 in the previous year[9] - Net profit attributable to the company was RMB 1,085,000, a decrease of 4.7% from RMB 1,139,000 in Q1 2023[9] - Basic earnings per share for the quarter was RMB 0.08, compared to RMB 0.30 in the same quarter last year[9] - The group's revenue for the three months ended March 31, 2024, was RMB 17,513,000, an increase of 10.3% compared to RMB 15,870,000 for the same period in 2023[16] - The group reported a net gain from financial assets measured at fair value of RMB 629,000, significantly higher than RMB 87,000 in the previous year[16] - The group’s total income, including other income and gains, was RMB 17,513,000, reflecting a strong performance in various segments[16] - For the three months ended March 31, 2024, the basic earnings per share attributable to ordinary equity holders of the company was approximately RMB 156,000, compared to RMB 565,000 for the same period in 2023[23] - The group recorded revenue of approximately RMB 16,568,000 for the three months ended March 31, 2024, representing a 6% increase from RMB 15,676,000 in the same period of 2023, primarily due to increased sales of aquatic products[28] - The overall gross profit for the three months ended March 31, 2024, was approximately RMB 4,164,000, with a gross profit margin of 19%, up from 18% in the same period of 2023[29] Expenses - Other income and gains amounted to RMB 945,000, significantly higher than RMB 194,000 in the previous year[9] - Selling and distribution expenses increased to RMB 732,000 from RMB 619,000, reflecting a rise in operational costs[9] - Administrative expenses rose to RMB 2,694,000, compared to RMB 2,253,000 in the same period last year[9] - Selling and distribution expenses rose from RMB 619,000 to approximately RMB 732,000, an 18% increase, attributed to higher sales of aquatic products[31] - Administrative expenses increased from RMB 2,253,000 to approximately RMB 2,694,000, a 20% increase, primarily due to higher general administrative costs[32] - Finance costs for the three months ended March 31, 2024, were approximately RMB 71,000, down from RMB 92,000 in the same period of 2023[33] Government Support and Taxation - The group received unconditional government subsidies totaling RMB 230,000 for the three months ended March 31, 2024, compared to RMB 94,000 for the same period in 2023[16] - The group did not incur any tax liabilities in Hong Kong for the three months ended March 31, 2024, consistent with the previous year[18] - The effective corporate income tax rate for small enterprises remains at 5% for taxable profits up to RMB 1,000,000[19] - The applicable corporate income tax rate is 25%, with certain subsidiaries qualifying for a reduced rate of 5% under specific conditions[36] Strategic Initiatives - The company has not provided specific guidance for future quarters but indicated a focus on improving operational efficiency and expanding market presence[8] - The company is actively exploring new product development and technological advancements to enhance its competitive edge[8] - There are ongoing discussions regarding potential mergers and acquisitions to facilitate market expansion and diversification[8] - The company plans to explore opportunities for developing and acquiring profitable businesses to enhance profitability and strengthen its position in the manufacturing and sales of fire safety equipment in China[39] Shareholder and Corporate Governance - The company did not declare or pay any dividends for the three months ended March 31, 2024, consistent with the same period in 2023[24] - The company has pledged a total of 131,870,000 shares as collateral for a loan of RMB 198,000,000, with a partial repayment of RMB 63,000,000 allowing for the release of the pledged shares[3] - The company has established an audit committee to oversee financial reporting and internal control systems[50] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited performance of the group for the three months ending March 31, 2024[51] - The company has adhered to all corporate governance rules as stipulated by the GEM listing rules[46] - The company aims to enhance transparency in shareholder communications and improve risk management and business performance[47] - The company is committed to maintaining responsible decision-making processes and respecting shareholder rights[47] - The company holds 70.36% of its issued share capital in the form of internal shares[3] - The company has not reported any other individuals holding 5% or more of its issued share capital as of March 31, 2024[3] Sales Performance - Sales of pressure vessels amounted to RMB 5,563,000, a decrease of 9.7% from RMB 6,158,000 in the previous year[16] - Sales of aquatic products increased to RMB 6,755,000, up 29.7% from RMB 5,207,000 year-on-year[16] - The group successfully increased sales of aquatic products during the period, contributing to a positive trend in overall revenue, indicating a strong start for 2024[38] Non-controlling Interests - Non-controlling interests for the three months ended March 31, 2024, amounted to approximately RMB 929,000, compared to RMB 574,000 for the same period in 2023, reflecting an increase due to higher profits from certain non-wholly owned subsidiaries[37]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 佈 之 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 佈 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 （於中華人民共和國註冊成立之股份有限公司） （股份代號：8115） 截 至 二 零 二 四 年 三 月 三 十 一 日 止 三 個 月 第 一 季 度 業 績 公 佈 香 港 聯 合 交 易 所 有 限 公 司GEM之 特 色 GEM的 定 位，乃 為 相 比 起 其 他 在 聯 交 所 上 市 的 公 司 帶 有 較 高 投 資 風 險 的 中 小 型 公 司 提 供 一 個 上 市 的 市 場。有 意 投 資 的 人 士 應 了 解 投 資 於 該 等 公 司 的 潛 在 風 險，並 應 經 過 審 慎 周 詳 的 考 慮 後 方 作 出 投 資 決 定。 由 於GEM上 市 公 司 普 遍 為 中 小 型 公 司，在 ...

Financial Performance - The company recorded total revenue of approximately RMB 74,137,000 for the year ending December 31, 2023, an increase of about RMB 11,939,000 from RMB 62,198,000 in 2022, representing a growth of approximately 19.2%[4] - The net profit attributable to the owners of the company for the same period was approximately RMB 8,521,000[4] - The overall gross profit for the year ended December 31, 2023, was approximately RMB 21,550,000, with a gross profit margin of 29%, stable compared to 27% for the previous year[13] - Other income and gains increased from approximately RMB 4,327,000 for the year ended December 31, 2022, to approximately RMB 4,950,000 for the year ended December 31, 2023, mainly due to increased realized gains on financial assets measured at fair value[14] - Selling and distribution expenses decreased by approximately 6% from RMB 3,301,000 to RMB 3,096,000, attributed to reduced transportation and depreciation costs[15] - Administrative expenses increased by 9% to approximately RMB 11,291,000 for the year ended December 31, 2023, compared to RMB 10,350,000 for the previous year, mainly due to increased general administrative expenses[16] - The group recorded a net current asset of approximately RMB 167,036,000 as of December 31, 2023, with a current ratio of 11.9, up from 10.6 the previous year[22] - The debt-to-equity ratio as of December 31, 2023, was 19%, stable compared to 21% as of December 31, 2022[23] - The group’s cash and cash equivalents increased to approximately RMB 143,391,000 as of December 31, 2023, compared to RMB 129,640,000 the previous year[22] - The group recorded a net profit of RMB 8,521,000 for the year, compared to RMB 5,586,000 in 2022, marking a year-over-year increase of 52.1%[190] Business Operations - Revenue primarily derived from the production and sales of pressure vessels, fire safety technology testing services, installation and inspection of marine firefighting equipment, sales of aquatic products, and property investment segments[4] - The company is focused on expanding its market presence in mainland China and overseas, particularly in the production and sales of firefighting equipment[4] - The company is committed to ongoing research and development in fire safety technology to enhance its service offerings[4] - The group plans to explore development and acquisition opportunities to enhance profitability and strengthen its position in the manufacturing, sales, and provision of fire-fighting equipment and services in China[8] - The company’s revenue from the sale of pressure vessels and firefighting equipment continues to be a significant part of its business model[199] - The company plans to continue expanding its market presence and enhancing its product offerings in the firefighting equipment sector[199] Governance and Compliance - The company emphasizes the importance of understanding the potential risks associated with investing in GEM-listed companies, which are generally smaller companies with higher investment risks[1] - The company has confirmed that the information provided in the report is accurate and complete, with no misleading or fraudulent elements[1] - The company aims to maintain transparency and accountability in its financial reporting, as evidenced by the independent auditor's report[3] - The company has adhered to the corporate governance code as per GEM listing rules, ensuring compliance and transparency in operations[44] - The company has adopted the GEM Listing Rules Appendix 15 to enhance corporate governance, aiming for responsible decision-making and improved risk management[47] - The board consists of six members, with all directors attending 100% of the meetings held in 2022, totaling four meetings[47] - The audit committee held five meetings in 2023 to review the financial performance and internal audit matters for the year ending December 31, 2023[55] - The remuneration committee includes one executive director and two independent non-executive directors, ensuring compliance with GEM Listing Rules[57] - The company emphasizes board diversity based on various criteria, including gender, age, and professional experience[62] - The company has established a risk management and internal control system, with management conducting annual reviews to identify areas for improvement[50] - The company has maintained a zero-tolerance policy towards corruption and bribery, ensuring ethical business practices[114] Employee Relations - The group had 84 employees as of December 31, 2023, down from 90 employees in 2022, indicating a reduction of approximately 6.7%[30] - The company has maintained a good relationship with its employees, as stated by the board of directors[31] - There were no significant labor disputes or strikes that interfered with the group's daily operations, indicating stable employee relations[31] - The employee turnover rate for the year is 7%, with a breakdown of 15% for males and 6% for females[96] - The total employee count as of December 31, 2023, is 84, with a gender distribution of 47 males and 37 females[96] - The percentage of employees trained this year is 24% for males and 20% for females[102] - The average training hours completed per employee this year are 20 hours for males and 15 hours for females[103] - 71% of executive directors and senior management received training this year, while only 15% of other employees did[103] - The company emphasizes the importance of employee training and development to adapt to a rapidly changing business environment[100] Environmental, Social, and Governance (ESG) - The board of directors is committed to overseeing environmental, social, and governance (ESG) matters and has established an ESG committee to review and monitor policies and practices[69] - The company emphasizes the importance of waste management and supports the "3R" waste hierarchy (Reduce, Reuse, Recycle) to minimize waste[78] - The company conducts a comprehensive materiality assessment to identify and prioritize significant ESG issues impacting operations[72] - The company has set annual environmental protection goals focused on environmental conservation, energy saving, and low carbon initiatives, which are regularly reviewed by the board[70] - The company systematically collects and responsibly disposes of solid waste, including packaging materials, ensuring recyclable components are separated before disposal[79] - The company recognizes the significance of ESG issues for shareholders and stakeholders, actively gathering feedback to enhance ESG strategies and outcomes[72] - The company consumed approximately 9,365 tons of water during the year[86] - The company has not experienced any climate-related issues and has implemented policies to manage potential risks[91] - The company has set a target to maintain carbon dioxide emissions at current levels, focusing on energy-saving practices[85] - The company has not generated any hazardous waste and has no targets for reducing packaging materials[82] - The company emphasizes resource efficiency and has established a management system to optimize resource usage[83] Financial Position - Total current assets increased to RMB 167,036,000 from RMB 151,808,000 in 2022, marking a growth of 9.9%[187] - Total non-current assets decreased to RMB 26,878,000 from RMB 29,541,000, a decline of 9.0%[187] - The company maintained a strong liquidity position with a net current asset value of RMB 153,061,000, compared to RMB 137,422,000 in 2022[187] - Total net assets increased to RMB 163,024,000, up from RMB 150,107,000 in 2022, representing an increase of 8.6%[188] - The company's operating cash flow for 2023 was RMB 13,782,000, compared to RMB 9,322,000 in 2022, reflecting a growth of 47.5%[192] - The total equity attributable to shareholders rose to RMB 145,212,000, an increase of 6.5% from RMB 135,697,000 in the previous year[190] - The company’s total liabilities remained stable at RMB 16,915,000, slightly up from RMB 16,856,000 in 2022[188] Shareholder Information - As of December 31, 2023, Mr. Zhou Jinhui holds 133,170,000 shares, representing approximately 71.05% of the company's issued share capital[147] - The major shareholder, Liancheng Fire Group Co., Ltd., holds 131,870,000 shares, accounting for about 70.36% of the registered capital[150] - The shares held by Liancheng Fire Group Co., Ltd. are pledged as collateral for a loan of RMB 198 million, with a partial repayment of RMB 63 million required to release the pledged shares[150] - The company has maintained a public float of at least 25% of its issued share capital[153] - The company has not engaged in any significant continuing connected transactions during the year[153] - The independent auditor has confirmed that the financial statements fairly reflect the group's financial position as of December 31, 2023[158] - The company has not changed auditors in the past three years, and the reappointment of the current auditor will be proposed at the upcoming annual general meeting[156]