Shanghai Qingpu Fire-Fighting Equipment Co., Ltd.* 上 海 青 浦 消 防 器 材 股 份 有 限 公 司 (於中華人民共和國註冊成立之股份有限公司) (股份代號：8115) 二零二二年中期報告 8 僅供識別 香 港 聯 合 交 易 所 有 限 公 司GEM的 特 色 GEM的 定 位 乃 為 相 比 其 他 在 聯 交 所 上 市 的 公 司 可 能 帶 有 較 高 投 資 風 險 的 中 小型公司提供一個上市的市場。有意投資者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 一 般 為 中 小 型 公 司，在GEM買 賣 的 證 券 可 能 會 較 於 聯 交 所 主 板 買 賣 的 證 券 承 受 較 大 的 市 場 波 動 風 險，同 時 無 法 保 證 在GEM買 賣 的 證 券 會 有 高 流 通 量 的 市 場。 本 報 告（上 海 青 浦 消 防 器 材 股 份 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）各 董 事（ ...

Financial Performance - Revenue for Q1 2022 was RMB 31,783,000, a decrease of 6.9% compared to RMB 34,783,000 in Q1 2021[7] - Gross profit for the quarter was RMB 4,181,000, down 18.9% from RMB 5,155,000 in the same period last year[8] - Profit before tax decreased to RMB 1,415,000, representing a decline of 39.4% from RMB 2,336,000 in Q1 2021[11] - Net profit for the period was RMB 1,393,000, a decrease of 38.3% compared to RMB 2,256,000 in the previous year[13] - The group's revenue for the three months ended March 31, 2022, was approximately RMB 14,783,000, a decrease of about 13% compared to RMB 16,952,000 for the same period in 2021[72] - The overall gross profit for the three months ended March 31, 2022, was approximately RMB 4,181,000, with a gross margin of 19%, down from 23% in the same period of 2021[73] - The group recorded a profit of approximately RMB 1,393,000 for the three months ended March 31, 2022, down from RMB 2,256,000 for the same period in 2021, representing a decline of about 38.2%[79] Earnings and Shares - Basic and diluted earnings per share remained at RMB 0.27, unchanged from Q1 2021[15] - The basic earnings per share for the three months ended March 31, 2022, was calculated based on a profit attributable to equity holders of approximately RMB 510,000, consistent with the same period in 2021[65] - The group did not declare or pay any dividends for the three months ended March 31, 2022, similar to the previous year[67] Expenses - Selling and distribution expenses increased to RMB 852,000, up 114.4% from RMB 397,000 in the same period last year[10] - Administrative expenses decreased to RMB 2,090,000, down 13.1% from RMB 2,405,000 in Q1 2021[10] - Financial expenses slightly decreased to RMB 113,000 from RMB 129,000 in the previous year[10] - Selling and distribution expenses rose to approximately RMB 852,000, an increase of 115% compared to RMB 397,000 in the previous year, mainly due to increased delivery costs and expansion costs in the aquarium products sales department[75] - Administrative expenses decreased to approximately RMB 2,090,000, a reduction of 13% from RMB 2,405,000 in the same period last year, primarily due to lower legal costs and employee expenses[76] - For the three months ended March 31, 2022, the group's financial expenses were approximately RMB 113,000, a decrease from RMB 129,000 for the same period in 2021[77] Other Income and Gains - Other income and gains for the quarter were RMB 289,000, a significant increase of 158.0% from RMB 112,000 in Q1 2021[9] - Other income and gains increased from RMB 112,000 to approximately RMB 289,000, representing a 158% increase year-over-year, primarily due to increased realized gains on financial assets measured at fair value[74] Corporate Governance and Future Plans - The company continues to focus on the production and sale of firefighting equipment and pressure vessels, as well as providing related inspection services[22] - The company remains optimistic about the recovery of the Chinese economy from the global COVID-19 pandemic and plans to enhance sales of aquatic products through improved production capacity[84] - The company is considering utilizing fundraising channels to develop and acquire profitable related enterprises to accelerate profit growth and establish itself as a major supplier of firefighting equipment and services in China[84] - The company is committed to promoting good corporate governance, aiming to enhance transparency and improve risk management and business performance[98] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited financial results for the three months ending March 31, 2022[102] Shareholding and Securities - As of March 31, 2022, no individual or entity was reported to hold 5% or more of the company's issued share capital[94] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the three months ending March 31, 2022[96] - 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 required to release the pledged shares[92] Related Party Transactions - The group did not engage in any significant transactions with related parties during the three months ended March 31, 2022[70] Taxation - The actual tax rate for the group for the three months ended March 31, 2022, was 2%, a decrease from 4% for the same period in 2021, primarily due to a reduction in taxable profits[80] - Non-controlling interests accounted for approximately RMB 883,000 of the profit for the three months ended March 31, 2022, compared to RMB 1,746,000 for the same period in 2021, reflecting a decrease of about 49.5%[81] Accounting Standards - The group did not apply any new accounting standards or interpretations that had not yet come into effect during the reporting period[24]

Financial Performance - The company recorded total revenue of RMB 72,830,000 for the year ended December 31, 2021, an increase of approximately 0.4% from RMB 72,517,000 in 2020[9][22] - The net profit attributable to the owners of the company for the same period was RMB 59,750,000[9] - The overall gross profit for the year was approximately RMB 23,358,000, with a gross margin increase from about 28% in 2020 to approximately 32% in 2021[23] - Other income and gains increased from approximately RMB 2,879,000 to approximately RMB 66,399,000, primarily due to the recognition of gains from the return of land under investment properties[24] - The group recorded a profit attributable to owners of the company of approximately RMB 59,750,000, a turnaround from a loss of RMB 1,403,000 in the previous year, mainly due to gains from the return of land under investment properties[33] - Current assets amounted to approximately RMB 142,703,000, with a current ratio of 11.4, up from 2.5 the previous year, driven by cash increases from compensation received for returned land[36] - The debt-to-equity ratio improved to 23% from 49%, reflecting an increase in total equity due to gains from the return of land under investment properties[37] - The net asset value of the group increased to approximately RMB 140,021,000 from RMB 73,380,000, indicating improved financial health[44] Operational Efficiency - The company has optimized its employee structure to enhance operational efficiency[20] - The new production facility of the subsidiary, Shanghai Ouyou Biotechnology Co., Ltd., was activated in 2021, improving capacity and corporate image[17] - Sales and distribution expenses rose from RMB 1,753,000 to approximately RMB 2,511,000, an increase of about 43%, mainly due to rising transportation costs[25] - Administrative expenses decreased by approximately 2.4%, from RMB 15,037,000 to about RMB 14,678,000, indicating stable management costs[26] - Financial expenses surged by approximately 196%, from RMB 160,000 to RMB 474,000, primarily due to interest expenses on bank loans for acquiring production facilities[27] - The number of employees decreased to 90 from 133, primarily due to a continuous reduction in production of fire-fighting equipment and testing services[45] Corporate Governance - The company has a board of six members, including three executive directors and three independent non-executive directors, with terms lasting until the 2023 annual general meeting[66] - The company has adopted the GEM Listing Rules Appendix 15 corporate governance code to enhance decision-making processes and improve transparency to shareholders[64] - The company’s management team includes experienced professionals with over 20 years in auditing, accounting, and financial management, ensuring strong oversight[58] - The company held four board meetings in 2021 to discuss development strategies, major operational matters, and financial issues[66] - The company’s executive directors have extensive experience in their respective fields, with backgrounds in construction, real estate, and management[49][50] - The company is committed to improving risk management and enhancing business performance through good corporate governance practices[64] - The company has a dedicated compliance officer to oversee adherence to corporate governance standards[60] - The company’s independent non-executive directors bring over 20 years of legal and accounting experience, contributing to effective governance[51][54] - The company emphasizes the importance of shareholder rights and interests in its governance framework[64] - The company has implemented a code of conduct for directors regarding securities trading, ensuring compliance with GEM Listing Rules[65] - The audit committee held five meetings during the year to review and discuss the company's financial performance and internal audit matters[77] - The company has adopted a board diversity policy, considering various factors such as gender, age, and professional experience in board member selection[85] - All directors participated in continuous professional training to enhance their knowledge and skills, ensuring informed contributions to the board[88] - The remuneration committee consists of one executive director and two independent non-executive directors, complying with GEM listing rules[79] - The company has established a nomination committee to review and monitor the board's structure and composition[83] - The internal control and risk management systems were evaluated to ensure they meet expected goals, with suggestions for improvements made[71] - The company’s chairman and general manager are distinct roles, with specific responsibilities outlined in the company's articles of association[70] - The company’s board members attended all scheduled meetings, demonstrating high engagement and commitment[78] - The company’s governance practices align with GEM listing rules, ensuring compliance and transparency in operations[74] Environmental, Social, and Governance (ESG) Practices - The board is committed to enhancing governance over environmental, social, and governance (ESG) matters, with regular reviews of annual environmental goals focused on eco-friendliness, energy conservation, and low carbon initiatives[96] - The company systematically collects solid waste, such as packaging materials, and ensures responsible disposal, separating recyclable components before disposal[108] - The company emphasizes compliance with environmental regulations and communicates relevant legal requirements to all affected stakeholders[109] - The environmental management approach is rooted in the "3R" waste hierarchy: Reduce, Reuse, and Recycle, aimed at minimizing waste generation[107] - The board oversees the entire process of ESG governance and disclosure, ensuring accountability for the development and reporting of ESG strategies[95] - The company has identified significant ESG factors, including greenhouse gas emissions and resource usage, as part of its risk assessment process[101] - The environmental, social, and governance report follows the principles of materiality, quantification, and consistency, ensuring relevant disclosures based on stakeholder input[99] - The company’s operations are aligned with the GEM listing rules, reflecting its commitment to sustainable development and stakeholder engagement[94] - The board will regularly review the progress of established environmental goals to ensure continuous improvement in ESG performance[96] - The company consumes approximately 2,500 cubic meters of water annually[118] - The company has set a target to maintain carbon dioxide emissions at current levels, focusing on energy conservation during office hours[118] - The company does not generate hazardous waste and has set no targets for reducing packaging materials[118] - The company emphasizes resource efficiency and has implemented measures to continuously monitor and improve resource usage[114] - The company encourages employees to report any water leakage issues immediately[119] - The company has implemented policies to mitigate risks related to climate change, including monitoring weather forecasts[122] Employee and Community Engagement - The employee turnover rate for the year is 39%, with male turnover at 35% and female turnover at 27%[140] - The total number of employees as of December 31, 2021, is 90, with 55 males and 35 females[140] - The company has a comprehensive compensation package that includes discretionary bonuses and medical insurance[128] - The percentage of employees receiving training this year was 20% for males and 10% for females[151][152] - The average training hours completed per employee were 20 hours for males and 15 hours for females[155] - The company aims to deepen its understanding of community needs and will continue to explore various channels for meaningful contributions[178] - The focus areas for community contributions are education and environmental issues[180] Compliance and Ethical Standards - The company reported no work-related fatalities over the past three years, including the current year[144] - There were no lost workdays due to occupational injuries during the reporting period[145] - All suppliers are located in China, ensuring local compliance and oversight[161] - There were no product recalls due to safety and health reasons during the year[167] - The company received no formal complaints regarding products and services this year[167] - The "Pujiang" trademark has been registered with Chinese authorities, protecting intellectual property rights[168] - The company has established formal guidelines for product responsibility and regularly evaluates these guidelines[166] - The company maintains a commitment to ethical, quality, safety, and efficiency standards throughout its supply chain[160] - The company reported no legal cases related to corruption against its employees during the year[173] - The company has a zero-tolerance policy towards corruption and bribery, ensuring compliance with all relevant laws and regulations[171] Revenue Concentration - Approximately 66% of total revenue was generated from the top five customers, with the largest customer contributing about 38% of total revenue[194] - Procurement from the top five suppliers accounted for approximately 37% of total procurement, with the largest supplier contributing about 10%[195] Shareholder Returns - The company has not declared any dividends for the current year, consistent with the previous year[187] - The company has not engaged in any buybacks or sales of its listed securities during the year[193] - The company’s available distributable reserves as of December 31, 2021, were approximately RMB 54,936,000[194]

[Company Information](index=1&type=section&id=Company%20Information) The Company, listed on GEM of HKEX, primarily manufactures and sells fire-fighting equipment and aquarium products, with Liancheng Fire-Fighting Group as direct and Zhejiang Hengtai Real Estate as ultimate controlling company [Company Overview](index=1&type=section&id=Company%20Overview) The Company, incorporated in China with H shares listed on GEM of HKEX, primarily engages in manufacturing and selling pressure vessels, fire safety services, and aquarium products, with Liancheng Fire-Fighting Group as direct and Zhejiang Hengtai Real Estate as ultimate controlling company - The Company's H shares are listed on GEM of The Stock Exchange of Hong Kong Limited[9](index=9&type=chunk) - The Group's principal businesses include the production and sale of pressure vessels (fire-fighting equipment and pressure vessel products), provision of fire safety technical inspection services, sales of marine fire-fighting equipment and related services, trading of other products, and sales of aquarium products[10](index=10&type=chunk) - The Company's direct controlling company is Liancheng Fire-Fighting Group Co., Ltd., and the ultimate controlling company is Zhejiang Hengtai Real Estate Co., Ltd[10](index=10&type=chunk) [Board of Directors and Management](index=3&type=section&id=Board%20of%20Directors%20and%20Management) This report lists the Company's executive directors, independent non-executive directors, audit committee members, authorized representatives, company secretary, and auditor information - Executive Directors include Mr. Zhou Jinhui, Mr. Shi Huixing, and Mr. Zhou Guoping[3](index=3&type=chunk) - Independent Non-Executive Directors include Mr. Wang Guozhong, Mr. Yang Chunhe, and Mr. Song Zizhang[3](index=3&type=chunk) - The Audit Committee comprises Mr. Song Zizhang, Mr. Yang Chunzi, and Mr. Wang Guozhong[3](index=3&type=chunk) [GEM Listing Characteristics and Directors' Responsibilities](index=2&type=section&id=GEM%20Listing%20Characteristics%20and%20Directors'%20Responsibilities) The GEM market provides a listing platform for small and medium-sized companies with high investment risks, where securities may face significant market volatility risks, and the Board assumes full responsibility for the accuracy, completeness, and non-misleading nature of this report's content - The GEM market provides a listing platform for small and medium-sized companies with higher investment risks, and securities may face significant market volatility risks[2](index=2&type=chunk) - The Company's directors jointly and individually assume full responsibility for this report, confirming that the information is accurate, complete, and free from misleading or fraudulent content[2](index=2&type=chunk) [Unaudited Quarterly Results](index=4&type=section&id=Unaudited%20Quarterly%20Results) The Group's unaudited financial results for the nine months ended September 30, 2021, including the condensed consolidated statement of profit or loss and other comprehensive income, are presented with detailed notes [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group's unaudited results for the nine months ended September 30, 2021, show revenue of **RMB 53,212 thousands** and profit for the period of **RMB 52,950 thousands**, primarily driven by a significant increase in other income and gains Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (Unaudited) | Indicator | For the 3 months ended Sep 30, 2021 (RMB thousands) | For the 3 months ended Sep 30, 2020 (RMB thousands) | For the 9 months ended Sep 30, 2021 (RMB thousands) | For the 9 months ended Sep 30, 2020 (RMB thousands) | | :--- | :--- | :--- | :--- | :--- | | Revenue | 18,062 | 19,466 | 53,212 | 48,380 | | Gross Profit | 5,192 | 5,638 | 16,459 | 14,563 | | Other Income and Gains | 54,412 | 230 | 58,588 | 1,511 | | Selling and Distribution Expenses | (716) | (393) | (1,719) | (1,883) | | Administrative Expenses | (3,812) | (3,402) | (10,621) | (9,209) | | Finance Costs | (120) | (15) | (352) | (45) | | Profit Before Tax | 54,956 | 2,058 | 62,355 | 2,058 | | Income Tax Expense | (8,185) | (266) | (9,405) | (266) | | Total Profit and Other Comprehensive Income for the Period | 46,771 | 1,792 | 52,950 | 1,792 | | Profit Attributable to Owners of the Company | 45,885 | 825 | 49,212 | 1,931 | | Profit Attributable to Non-Controlling Interests | 886 | 967 | 3,738 | 3,321 | | Basic Earnings Per Share (RMB cents) | 24.48 | 0.44 | 26.26 | 1.03 | [Notes](index=5&type=section&id=Notes) This section elaborates on the financial statement notes, including company background, accounting policies, revenue composition, profit before tax details, income tax calculation, earnings per share, dividend policy, equity changes, and related party transactions, with land resumption gains significantly impacting current period results [General Information](index=5&type=section&id=General%20Information) The Company, incorporated in China with H shares listed on GEM of HKEX, primarily engages in manufacturing and selling fire-fighting equipment, pressure vessels, and aquarium products, along with related services, with Liancheng Fire-Fighting Group as direct and Zhejiang Hengtai Real Estate as ultimate controlling company - The Company's H shares are listed on GEM of The Stock Exchange of Hong Kong Limited[9](index=9&type=chunk) - The Group's principal businesses include the production and sale of pressure vessels (including fire-fighting equipment products and pressure vessel products), provision of fire safety technical inspection services, sales of marine fire-fighting equipment and related services, trading of other products, and sales of aquarium products[10](index=10&type=chunk) - The Company's direct controlling company is Liancheng Fire-Fighting Group Co., Ltd., and the ultimate controlling company is Zhejiang Hengtai Real Estate Co., Ltd[10](index=10&type=chunk) [Significant Accounting Policies](index=5&type=section&id=Significant%20Accounting%20Policies) The Group's unaudited condensed consolidated financial statements are prepared in accordance with International Financial Reporting Standards and GEM Listing Rules, using the historical cost convention, with investment properties measured at fair value, and no new standards or interpretations not yet effective have been applied in the current period - The financial statements are prepared in accordance with International Financial Reporting Standards and GEM Listing Rules, using the historical cost convention, except for investment properties[11](index=11&type=chunk) - The financial statements for the nine months ended September 30, 2021, are unaudited but have been reviewed by the Audit Committee[11](index=11&type=chunk) - The Group has not applied any new standards or interpretations that are not yet effective for the current accounting period[12](index=12&type=chunk) [Revenue, Other Income and Gains](index=6&type=section&id=Revenue,%20Other%20Income%20and%20Gains) The Group's revenue primarily derives from sales of pressure vessels, aquarium products, marine fire-fighting equipment, and inspection services, with other income and gains significantly increasing due to gains from land resumption and return of investment properties Revenue, Other Income and Gains Analysis (Unaudited) | Revenue Source | For the 3 months ended Sep 30, 2021 (RMB thousands) | For the 3 months ended Sep 30, 2020 (RMB thousands) | For the 9 months ended Sep 30, 2021 (RMB thousands) | For the 9 months ended Sep 30, 2020 (RMB thousands) | | :--- | :--- | :--- | :--- | :--- | | Sales of pressure vessels | 6,222 | 5,718 | 14,377 | 14,377 | | Sales of aquarium products | 6,273 | 6,151 | 21,709 | 19,466 | | Sales of marine fire-fighting equipment | 2,724 | 2,670 | 6,570 | 6,570 | | Inspection service fees | 1,275 | 3,510 | 5,640 | 5,640 | | Gross rental income | 1,568 | 1,417 | 4,916 | 4,916 | | **Total Revenue** | **18,062** | **19,466** | **53,212** | **48,380** | | Other Income and Gains: | | | | | | Interest income | 16 | 131 | 91 | 91 | | Investment product income | 292 | – | 443 | – | | Fair value gain on investment properties | – | – | 3,700 | – | | Government grants | 107 | 99 | 324 | 324 | | Gain on land resumption and return of investment properties | 53,997 | – | 53,997 | – | | **Total Other Income and Gains** | **54,412** | **230** | **58,588** | **1,511** | | **Total Revenue, Other Income and Gains** | **72,474** | **19,696** | **111,800** | **49,891** | - A gain on land resumption and return of investment properties of approximately **RMB 53.997 million** was recognized upon completion of the land resumption on August 20, 2021[17](index=17&type=chunk)[18](index=18&type=chunk) [Profit Before Tax](index=7&type=section&id=Profit%20Before%20Tax) The Group's profit before tax is influenced by various factors, including amortization of intangible assets, depreciation of property, plant and equipment, staff costs, as well as fair value gains on investment properties and gains from land resumption Profit Before Tax Deductions/Additions (Unaudited) | Item | For the 3 months ended Sep 30, 2021 (RMB thousands) | For the 3 months ended Sep 30, 2020 (RMB thousands) | For the 9 months ended Sep 30, 2021 (RMB thousands) | For the 9 months ended Sep 30, 2020 (RMB thousands) | | :--- | :--- | :--- | :--- | :--- | | Amortization of intangible assets | 45 | 45 | 135 | 135 | | Depreciation of property, plant and equipment | 157 | 9 | 446 | 27 | | Depreciation of right-of-use assets | 185 | 178 | 550 | 534 | | Interest on lease liabilities included in finance costs | 18 | 15 | 41 | 45 | | Staff costs | 1,143 | 2,138 | 6,108 | 6,414 | | Fair value gain on investment properties | – | – | (3,700) | – | | Gain on land resumption and return of investment properties | (53,997) | – | (53,997) | – | [Income Tax Expense](index=8&type=section&id=Income%20Tax%20Expense) The Group has no assessable profits in Hong Kong, thus no Hong Kong profits tax provision, while China enterprise income tax is calculated at 25%, with some eligible small enterprises enjoying preferential rates of 5% or 10%, and current deferred tax primarily relates to fair value gains on investment properties and land resumption gains - The Group has no assessable profits in Hong Kong, hence no Hong Kong profits tax provision[25](index=25&type=chunk) - The PRC Enterprise Income Tax Law provides preferential tax rates for eligible small enterprises (5% on the first **RMB 1 million**, and 10% on the remaining amount not exceeding **RMB 3 million**), while other companies are taxed at 25%[25](index=25&type=chunk) - Deferred tax provided for the nine months ended September 30, 2021, primarily relates to tax provisions for fair value gains on investment properties and gains from land resumption[27](index=27&type=chunk) [Earnings Per Share](index=8&type=section&id=Earnings%20Per%20Share) For the three and nine months ended September 30, 2021, the basic earnings per share attributable to ordinary equity holders of the Company were **RMB 24.48 cents** and **RMB 26.26 cents**, respectively, with no dilutive adjustments made due to the absence of potential dilutive ordinary shares Earnings Per Share (Unaudited) | Indicator | For the 3 months ended Sep 30, 2021 | For the 3 months ended Sep 30, 2020 | For the 9 months ended Sep 30, 2021 | For the 9 months ended Sep 30, 2020 | | :--- | :--- | :--- | :--- | :--- | | Profit attributable to ordinary equity holders of the Company (RMB thousands) | 45,885 | 825 | 49,212 | 1,931 | | Number of ordinary shares issued | 187,430,000 | 187,430,000 | 187,430,000 | 187,430,000 | | Basic Earnings Per Share (RMB cents) | 24.48 | 0.44 | 26.26 | 1.03 | - No dilutive adjustments were made to the basic earnings per share amounts as the Group had no potential dilutive ordinary shares issued during the reporting period[28](index=28&type=chunk) [Dividends](index=9&type=section&id=Dividends) For the nine months ended September 30, 2021, the Group neither paid nor declared any dividends - For the nine months ended September 30, 2021, the Group neither paid nor declared any dividends[30](index=30&type=chunk) [Statement of Changes in Equity](index=9&type=section&id=Statement%20of%20Changes%20in%20Equity) The Group's statement of changes in equity for the nine months ended September 30, 2021, shows total equity attributable to owners of the Company increased from **RMB 63,967 thousands** at the beginning of the period to **RMB 119,079 thousands**, primarily driven by profit for the period and transfers from asset revaluation reserve Statement of Changes in Equity (Unaudited) | Item | As of Sep 30, 2021 | As of Sep 30, 2020 | | :--- | :--- | :--- | | Total equity attributable to owners of the Company (RMB thousands) | 119,079 | 73,200 | | Non-controlling interests (RMB thousands) | 7,251 | 3,117 | | **Total Equity (RMB thousands)** | **126,330** | **76,318** | | Profit and total comprehensive income for the period (RMB thousands) | 49,212 | 1,651 | | Transfer from asset revaluation reserve (RMB thousands) | – | – | - Profit attributable to owners of the Company was **RMB 49,212 thousands**, and profit attributable to non-controlling interests was **RMB 3,738 thousands**[31](index=31&type=chunk) [Related Party Transactions](index=10&type=section&id=Related%20Party%20Transactions) The Group engaged in significant related party transactions during the reporting period, including sales of trading goods to Liancheng Fire-Fighting Technology Group Co., Ltd., and provision of inspection services to Liancheng Fire-Fighting Engineering Co., Ltd. and Shanghai Petrochemical Fire-Fighting Engineering Co., Ltd Related Party Transactions (Unaudited) | Transaction Type | Related Party | For the 3 months ended Sep 30, 2021 (RMB thousands) | For the 3 months ended Sep 30, 2020 (RMB thousands) | For the 9 months ended Sep 30, 2021 (RMB thousands) | For the 9 months ended Sep 30, 2020 (RMB thousands) | | :--- | :--- | :--- | :--- | :--- | :--- | | Sales of trading goods | Liancheng Fire-Fighting Technology Group Co., Ltd. | 15 | – | – | – | | Inspection service income | Liancheng Fire-Fighting Engineering Co., Ltd. | 8 | 9 | 8 | 9 | | Inspection service income | Shanghai Petrochemical Fire-Fighting Engineering Co., Ltd. | 5 | 27 | 23 | 48 | | **Total** | | **28** | **36** | **31** | **57** | - The Board believes that the above transactions were conducted in the ordinary course of the Group's business, and their prices and terms were comparable to those charged to and entered into with third parties[61](index=61&type=chunk) [Business and Financial Review](index=11&type=section&id=Business%20and%20Financial%20Review) This section provides a comprehensive review of the Group's financial performance and business operations, highlighting key drivers of revenue and profit changes, cost structures, and strategic initiatives [Financial Performance Review](index=11&type=section&id=Financial%20Performance%20Review) The Group's revenue increased by **10%** year-on-year, primarily due to increased aquarium product sales, with gross profit margin remaining stable, while other income and gains significantly rose due to land resumption gains, and selling and distribution expenses, administrative expenses, and finance costs all increased, leading to a **908%** surge in profit for the period, driven by fair value gains on investment properties and land resumption gains [Revenue](index=11&type=section&id=Revenue) Revenue for the period was approximately **RMB 53.212 million**, an increase of approximately **10%** compared to the same period, mainly due to increased sales of aquarium products to overseas distributors caused by global lockdowns Revenue Comparison | Indicator | For the 9 months ended Sep 30, 2021 (RMB thousands) | For the 9 months ended Sep 30, 2020 (RMB thousands) | Year-on-year Growth | | :--- | :--- | :--- | :--- | | Revenue | 53,212 | 48,380 | 10% | - The increase in revenue was primarily due to increased sales of aquarium products to overseas market distributors as a result of increased demand caused by global lockdown conditions[63](index=63&type=chunk) [Cost of Sales and Services and Gross Profit](index=11&type=section&id=Cost%20of%20Sales%20and%20Services%20and%20Gross%20Profit) Cost of sales and services for the period was approximately **RMB 36.753 million**, an increase of approximately **9%** year-on-year, consistent with revenue growth, resulting in a gross profit of approximately **RMB 16.459 million** and a stable gross profit margin of **31%** Cost of Sales and Services and Gross Profit Comparison | Indicator | For the 9 months ended Sep 30, 2021 (RMB thousands) | For the 9 months ended Sep 30, 2020 (RMB thousands) | Year-on-year Growth | | :--- | :--- | :--- | :--- | | Cost of sales and services | 36,753 | 33,817 | 9% | | Gross Profit | 16,459 | 14,563 | 13% | | Gross Profit Margin | 31% | 30% | 1 percentage point | - The main components of cost of sales and services are raw materials (including steel and aluminum) and labor costs[64](index=64&type=chunk) [Other Income and Gains](index=11&type=section&id=Other%20Income%20and%20Gains) Other income and gains for the period were approximately **RMB 58.588 million**, a significant increase from the same period, primarily due to the recognition of a gain of approximately **RMB 53.997 million** from land resumption and return of investment properties Other Income and Gains Comparison | Indicator | For the 9 months ended Sep 30, 2021 (RMB thousands) | For the 9 months ended Sep 30, 2020 (RMB thousands) | Year-on-year Growth | | :--- | :--- | :--- | :--- | | Other Income and Gains | 58,588 | 1,511 | 3789% | | Of which: Gain on land resumption | 53,997 | – | N/A | [Selling and Distribution Expenses](index=11&type=section&id=Selling%20and%20Distribution%20Expenses) Selling and distribution expenses for the period were approximately **RMB 1.719 million**, an increase of approximately **59%** compared to the same period, mainly due to additional expenses (such as salaries and office expenses) incurred by a subsidiary established in August 2020 Selling and Distribution Expenses Comparison | Indicator | For the 9 months ended Sep 30, 2021 (RMB thousands) | For the 9 months ended Sep 30, 2020 (RMB thousands) | Year-on-year Growth | | :--- | :--- | :--- | :--- | | Selling and Distribution Expenses | 1,719 | 1,883 | -9% | | The increase in selling and distribution expenses was mainly due to additional expenses (such as salaries and office expenses) incurred by a subsidiary established in August 2020 during the period | | | | [Administrative Expenses](index=11&type=section&id=Administrative%20Expenses) Administrative expenses for the period were approximately **RMB 10.620 million**, an increase of approximately **15%** compared to the same period, primarily due to an impairment of other receivables of approximately **RMB 696 thousands** during the period Administrative Expenses Comparison | Indicator | For the 9 months ended Sep 30, 2021 (RMB thousands) | For the 9 months ended Sep 30, 2020 (RMB thousands) | Year-on-year Growth | | :--- | :--- | :--- | :--- | | Administrative Expenses | 10,620 | 9,209 | 15% | | Of which: Impairment of other receivables | 696 | – | N/A | [Finance Costs](index=12&type=section&id=Finance%20Costs) Finance costs for the period were approximately **RMB 352 thousands**, a significant increase of approximately **682%** compared to the same period, mainly comprising interest expenses on bank borrowings used to acquire production plant properties Finance Costs Comparison | Indicator | For the 9 months ended Sep 30, 2021 (RMB thousands) | For the 9 months ended Sep 30, 2020 (RMB thousands) | Year-on-year Growth | | :--- | :--- | :--- | :--- | | Finance Costs | 352 | 45 | 682% | - Finance costs primarily comprise interest expenses on bank borrowings used to finance part of the consideration for the acquisition of production plant properties in July 2020[69](index=69&type=chunk) [Income Tax](index=12&type=section&id=Income%20Tax) The effective tax rate for the period increased to **15%** (compared to **8%** in the same period), mainly due to the recognition of deferred tax of **RMB 9.005 million** on fair value gains on investment properties and land resumption gains Effective Tax Rate Comparison | Indicator | For the 9 months ended Sep 30, 2021 | For the 9 months ended Sep 30, 2020 | | :--- | :--- | :--- | | Effective Tax Rate | 15% | 8% | | Deferred Tax | 9,005,000 | – | - The increase in the effective tax rate was mainly due to the recognition of deferred tax during the period on fair value gains on investment properties and gains from land resumption and return of investment properties[70](index=70&type=chunk) [Profit for the Period](index=12&type=section&id=Profit%20for%20the%20Period) Profit for the period was approximately **RMB 52.950 million**, a significant increase of **908%** compared to the same period, driven by fair value gains on investment properties and land resumption gains (net of deferred tax) Profit for the Period Comparison | Indicator | For the 9 months ended Sep 30, 2021 (RMB thousands) | For the 9 months ended Sep 30, 2020 (RMB thousands) | Year-on-year Growth | | :--- | :--- | :--- | :--- | | Profit for the Period | 52,950 | 5,252 | 908% | | Fair value gain on investment properties | 3,700 | – | N/A | | Gain on land resumption (net of deferred tax) | 53,997 (net of 9,005) | – | N/A | [Non-Controlling Interests](index=12&type=section&id=Non-Controlling%20Interests) Profit for the period attributable to non-controlling interests was approximately **RMB 3.738 million**, with the increase primarily due to higher profits from the aquarium products segment and property investment segment generated by its non-wholly owned subsidiaries Profit Attributable to Non-Controlling Interests Comparison | Indicator | For the 9 months ended Sep 30, 2021 (RMB thousands) | For the 9 months ended Sep 30, 2020 (RMB thousands) | | :--- | :--- | :--- | | Profit attributable to non-controlling interests for the period | 3,738 | 3,321 | - The increase in non-controlling interests was mainly due to the allocation of increased profits from the aquarium products segment and property investment segment generated by its non-wholly owned subsidiaries[72](index=72&type=chunk) [Business Review](index=12&type=section&id=Business%20Review) The Company offers carbon dioxide, water-based, and dry powder fire extinguisher products, certified by the Fire Products Conformity Assessment Center and China Classification Society, with pressure cylinders obtaining manufacturing licenses in China and complying with US and EU quality standards - The Company's fire extinguisher products are categorized into three types: carbon dioxide, water-based, and dry powder fire extinguishers, offering a rich product portfolio[73](index=73&type=chunk) - Non-marine fire extinguishers have been awarded product type approval certificates by the Fire Products Conformity Assessment Center, while marine fire extinguishers have been awarded product type approval certificates by the Shanghai Branch of China Classification Society[73](index=73&type=chunk) - The Company's pressure cylinders have obtained manufacturing licenses in China and comply with US and EU quality standards or requirements[73](index=73&type=chunk) [Significant Events and Outlook](index=13&type=section&id=Significant%20Events%20and%20Outlook) This section details significant events such as land resumption and the impact of the COVID-19 pandemic, along with the Group's business strategies and future prospects [Land Resumption](index=13&type=section&id=Land%20Resumption) The Company's Chonggu factory in Qingpu District, Shanghai, was included in a redevelopment plan, and after valuation disputes and legal objections, a land resumption agreement was reached with government departments, resulting in compensation of approximately **RMB 87 million**, which has been fully received before the reporting date, improving the Group's working capital and reallocating idle resources - The Chonggu factory was included in the Chonggu Town redevelopment plan, and the Company had previously filed legal objections regarding the valuation[75](index=75&type=chunk)[76](index=76&type=chunk) - The Company signed a land resumption agreement with the Qingpu District Chonggu Town Housing and Land Expropriation Office and the Construction Land Reduction Work Office, receiving total compensation of approximately **RMB 87 million**[77](index=77&type=chunk) - The land resumption was completed on August 20, 2021, and all compensation has been received before the reporting date, which improved the Group's working capital position and reallocated idle resources[78](index=78&type=chunk)[80](index=80&type=chunk) [Impact of COVID-19 and Business Strategies](index=14&type=section&id=Impact%20of%20COVID-19%20and%20Business%20Strategies) The COVID-19 pandemic kept the Group's overseas sales of pressure vessels at a minimum, but increased sales of aquarium products improved the situation, and the Company acquired new production plants to boost aquarium product capacity, planning to utilize capital increase channels to acquire profitable enterprises - The COVID-19 pandemic caused the Group's overseas sales of pressure vessels to remain at a minimum level, but increased sales of aquarium products improved the situation[81](index=81&type=chunk) - The Company's subsidiary, Shanghai Jino Biotechnology Co., Ltd., acquired six properties in Tianyi Health Industrial Park, Cixi City, Zhejiang Province, with a total floor area of approximately **3,233 square meters**, for approximately **RMB 12.817 million**, to enhance aquarium product production capacity[81](index=81&type=chunk) [Prospects](index=14&type=section&id=Prospects) The Group anticipates continued growth in aquarium product sales and plans to enhance its competitive advantage and profitability through business strategy adjustments, increased capacity at new production plants, and a prudent M&A strategy, aiming to become a leading fire-fighting equipment manufacturer and service provider in China - Aquarium product sales are expected to continue growing in 2021, benefiting from increased demand due to global lockdown measures in 2020[81](index=81&type=chunk) - The Company will enhance its competitive advantage and performance through business strategy adjustments, increased capacity at new production plants, and improved corporate image[82](index=82&type=chunk) - The Company will prudently consider utilizing capital increase channels to acquire relevant and profitable enterprises to accelerate profit growth, aiming to become a major fire-fighting equipment manufacturer and service provider in China[82](index=82&type=chunk) [Shareholders and Corporate Governance](index=15&type=section&id=Shareholders%20and%20Corporate%20Governance) This section outlines directors' and substantial shareholders' interests in the Company's securities, related party transactions, and adherence to corporate governance principles [Directors' and Supervisors' Interests and Short Positions in Shares, Underlying Shares, and Debentures](index=15&type=section&id=Directors'%20and%20Supervisors'%20Interests%20and%20Short%20Positions%20in%20Shares,%20Underlying%20Shares,%20and%20Debentures) As of September 30, 2021, Mr. Zhou Jinhui held **133,170,000 shares** of the Company through controlled corporations, representing **71.05%** of the total issued share capital, being the only disclosed director's interest Directors' and Supervisors' Long Positions in the Company's Shares | Name | Capacity | Number of Shares | Approximate Percentage of Total Issued Share Capital | | :--- | :--- | :--- | :--- | | Mr. Zhou Jinhui | Held by controlled corporation | 133,170,000 | 71.05% | - Mr. Zhou Jinhui indirectly holds shares in the Company through Liancheng Fire-Fighting Group Co., Ltd. and its wholly-owned subsidiary, Liancheng Fire-Fighting (Hong Kong) Co., Ltd[83](index=83&type=chunk) [Substantial Shareholders' and Other Persons' Interests and Short Positions in Shares, Underlying Shares, and Debentures](index=16&type=section&id=Substantial%20Shareholders'%20and%20Other%20Persons'%20Interests%20and%20Short%20Positions%20in%20Shares,%20Underlying%20Shares,%20and%20Debentures) As of September 30, 2021, Liancheng Fire-Fighting Group Co., Ltd., Zhejiang Hengtai Real Estate Co., Ltd., and Mr. Zhou Jinhui were substantial shareholders, holding approximately **70.36%** of the Company's domestic shares and **0.69%** of its H shares, respectively, with Liancheng's **131,870,000 domestic shares** pledged to an independent third party as collateral for a loan Substantial Shareholders' Long Positions in the Company's Shares | Shareholder Name | Capacity | Number of Shares | Approximate Percentage of Total Issued Share Capital | | :--- | :--- | :--- | :--- | | Liancheng Fire-Fighting Group Co., Ltd. | Beneficial owner/Held by controlled corporation | 131,870,000 (Domestic Shares) / 1,300,000 (H Shares) | 70.36% / 0.69% | | Zhejiang Hengtai Real Estate Co., Ltd. | Held by controlled corporation | 131,870,000 (Domestic Shares) / 1,300,000 (H Shares) | 70.36% / 0.69% | | Mr. Zhou Jinhui | Held by controlled corporation | 131,870,000 (Domestic Shares) / 1,300,000 (H Shares) | 70.36% / 0.69% | - A total of **131,870,000 domestic shares** of the Company held by Liancheng have been pledged to an independent third party as collateral for a loan of **RMB 198 million**[87](index=87&type=chunk) - As of September 30, 2021, the pledged shares represented approximately **70.36%** and **100%** of the Company's issued share capital and domestic shares, respectively[87](index=87&type=chunk) [Directors' and Supervisors' Interests in Contracts](index=17&type=section&id=Directors'%20and%20Supervisors'%20Interests%20in%20Contracts) Except for related party transactions disclosed in Note 9 of the report, none of the Company's directors or supervisors had any direct or indirect material interest in any significant contract entered into by the Company as of September 30, 2021, or for the nine-month period then ended - Except for related party transactions, none of the Company's directors or supervisors had any direct or indirect material interest in any significant contract entered into by the Company[90](index=90&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=17&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) For the nine months ended September 30, 2021, the Company neither purchased, sold, nor redeemed any of its listed securities - For the nine months ended September 30, 2021, the Company neither purchased, sold, nor redeemed any of its listed securities[90](index=90&type=chunk) [Corporate Governance](index=17&type=section&id=Corporate%20Governance) The Company is committed to good corporate governance, aiming to uphold responsible decision-making, enhance information transparency, respect shareholders' rights, and improve risk management, having complied with all code provisions of the Corporate Governance Code set out in Appendix 15 of the GEM Listing Rules for the nine months ended September 30, 2021, with all directors adhering to the Model Code for Securities Transactions by Directors - The Company is committed to good corporate governance, aiming to uphold responsible decision-making, enhance information transparency, respect shareholders' rights, and improve risk management[90](index=90&type=chunk) - For the nine months ended September 30, 2021, the Company complied with all code provisions of the Corporate Governance Code set out in Appendix 15 of the GEM Listing Rules[90](index=90&type=chunk) - All directors have consistently complied with the required standards for securities transactions by directors and the Model Code for Securities Transactions by Directors[90](index=90&type=chunk) [Audit Committee](index=18&type=section&id=Audit%20Committee) The Company has established an Audit Committee, comprising three independent non-executive directors, whose primary responsibilities include reviewing and monitoring financial reporting processes and internal control systems, and the Committee has reviewed the Group's unaudited condensed consolidated financial statements for the nine months ended September 30, 2021 - The Audit Committee comprises three independent non-executive directors: Mr. Yang Chunbao, Mr. Wang Guozhong, and Mr. Song Zizhang[91](index=91&type=chunk) - The primary responsibilities of the Audit Committee are to review and monitor the Group's financial reporting processes and internal control systems, and to provide recommendations to the Board[91](index=91&type=chunk) - The Audit Committee has reviewed the Group's unaudited condensed consolidated financial statements for the nine months ended September 30, 2021, and provided recommendations and opinions thereon[91](index=91&type=chunk)

Company Information [Company Overview](index=1&type=section&id=%E5%85%AC%E5%8F%B8%E6%A6%82%E5%86%B5) This section outlines Shanghai Qingpu Fire-Fighting Equipment Co., Ltd.'s GEM listing, directors' responsibility for report accuracy, and key corporate details - Shanghai Qingpu Fire-Fighting Equipment Co., Ltd. (Stock Code: **8115**) H-shares are listed on GEM of the Hong Kong Stock Exchange[1](index=1&type=chunk)[28](index=28&type=chunk) - Directors confirm the report information is accurate, complete, and free from misleading or fraudulent content in all material aspects[3](index=3&type=chunk) Company Basic Information | Metric | Details | | :----------- | :----------------------------------------- | | **Stock Code** | 8115 | | **Registered Office** | 1988 Jihe Road, Huaxin Town, Qingpu District, Shanghai, PRC | | **Principal Place of Business in Hong Kong** | Room 2605, Harbour Centre, 510 King's Road, North Point, Hong Kong | | **Auditor** | Tianjian Deyang Certified Public Accountants Co., Ltd. | | **Principal Bankers** | China Construction Bank Huaxin Branch, Shanghai Rural Commercial Bank Co., Ltd. Chonggu Branch | Interim Results Overview [Financial Highlights](index=4&type=section&id=%E8%B4%A2%E5%8A%A1%E4%BA%AE%E7%82%B9) For the six months ended June 30, 2021, the Group's revenue grew **22%** to **RMB 35.15 million**, and profit attributable to owners surged **201%** to **RMB 3.327 million** 2021 First Half Financial Highlights | Metric | 2021 First Half (RMB thousands) | 2020 First Half (RMB thousands) | Year-on-year Growth Rate | | :------------------------ | :------------------------ | :------------------------ | :------------------------- | | **Revenue** | 35,150 | 28,914 | 22% | | **Profit attributable to owners of the Company** | 3,327 | 1,106 | 201% | Financial Statements [Condensed Consolidated Statement of Profit or Loss](index=5&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E6%8D%9F%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2021, the Group's revenue was **RMB 35,150 thousand**, gross profit **RMB 11,267 thousand**, profit attributable to owners **RMB 3,327 thousand**, and basic EPS **1.78 RMB cents** Condensed Consolidated Statement of Profit or Loss Summary (For the six months ended June 30) | Metric | 2021 (RMB thousands) | 2020 (RMB thousands) | | :--------------------------------- | :------------------ | :------------------ | | **Revenue** | 35,150 | 28,914 | | **Gross Profit** | 11,267 | 8,925 | | **Profit before tax** | 7,399 | 3,679 | | **Profit for the period** | 6,179 | 3,460 | | **Profit attributable to owners of the Company** | 3,327 | 1,106 | | **Basic earnings per share** | 1.78 RMB cents | 0.65 RMB cents | [Condensed Consolidated Statement of Comprehensive Income](index=6&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2021, the Group's total comprehensive income was **RMB 6,179 thousand**, with **RMB 3,327 thousand** attributable to owners and **RMB 2,852 thousand** to non-controlling interests Condensed Consolidated Statement of Comprehensive Income Summary (For the six months ended June 30) | Metric | 2021 (RMB thousands) | 2020 (RMB thousands) | | :--------------------------------- | :------------------ | :------------------ | | **Profit for the period** | 6,179 | 3,460 | | **Other comprehensive income for the period** | - | - | | **Total comprehensive income for the period** | 6,179 | 3,460 | | **Attributable to owners of the Company** | 3,327 | 1,106 | | **Attributable to non-controlling interests** | 2,852 | 2,354 | [Condensed Consolidated Statement of Financial Position](index=7&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E8%B4%A2%E5%8A%A1%E7%8A%B6%E5%86%B5%E8%A1%A8) As of June 30, 2021, the Group's total assets were **RMB 111,701 thousand**, with non-current assets of **RMB 30,814 thousand** and current assets of **RMB 80,887 thousand**, resulting in net assets of **RMB 79,559 thousand**, an increase from year-end 2020 Condensed Consolidated Statement of Financial Position Summary (As of June 30, 2021) | Metric | June 30, 2021 (RMB thousands) | December 31, 2020 (RMB thousands) | | :------------------------- | :-------------------------- | :-------------------------- | | **Total non-current assets** | 30,814 | 54,677 | | **Total current assets** | 80,887 | 54,678 | | **Total current liabilities** | 24,101 | 21,757 | | **Net assets** | 79,559 | 73,380 | | **Total equity** | 79,559 | 73,380 | - Total non-current assets decreased from **RMB 54,677 thousand** at year-end 2020 to **RMB 30,814 thousand** as of June 30, 2021, primarily due to investment properties being reclassified as non-current assets held for sale[14](index=14&type=chunk) - Total current assets increased from **RMB 54,678 thousand** at year-end 2020 to **RMB 80,887 thousand** as of June 30, 2021, mainly influenced by an increase in non-current assets held for sale[14](index=14&type=chunk) [Condensed Consolidated Statement of Changes in Equity](index=9&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E6%9D%83%E7%9B%8A%E5%8F%98%E5%8A%A8%E8%A1%A8) For the six months ended June 30, 2021, equity attributable to owners of the Company increased from **RMB 69,867 thousand** to **RMB 73,194 thousand**, primarily driven by profit for the period Condensed Consolidated Statement of Changes in Equity Summary (As of June 30, 2021) | Metric | June 30, 2021 (RMB thousands) | June 30, 2020 (RMB thousands) | | :--------------------------------- | :------------------------- | :------------------------- | | **Equity attributable to owners of the Company** | 73,194 | 72,376 | | **Non-controlling interests** | 6,365 | 2,150 | | **Total equity** | 79,559 | 74,526 | - In the first half of 2021, profit and total comprehensive income attributable to owners of the Company amounted to **RMB 3,327 thousand**[18](index=18&type=chunk) [Condensed Consolidated Statement of Cash Flows](index=10&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) For the six months ended June 30, 2021, the Group generated **RMB 3,952 thousand** net cash from operating activities, with a net increase in cash and cash equivalents of **RMB 2,612 thousand**, bringing period-end cash and cash equivalents to **RMB 33,208 thousand** Condensed Consolidated Statement of Cash Flows Summary (For the six months ended June 30) | Metric | 2021 (RMB thousands) | 2020 (RMB thousands) | | :--------------------------------- | :------------------ | :------------------ | | **Net cash generated from operating activities** | 3,952 | (34) | | **Net cash used in investing activities** | (719) | (7) | | **Net cash used in financing activities** | (621) | (83) | | **Net increase in cash and cash equivalents** | 2,612 | (124) | | **Cash and cash equivalents at end of period** | 33,208 | 26,381 | Notes to the Financial Statements [General Information and Basis of Preparation](index=11&type=section&id=%E4%B8%80%E8%88%AC%E4%BF%A1%E6%81%AF%E4%B8%8E%E7%BC%96%E5%88%B6%E5%9F%BA%E7%A1%80) The Group's unaudited condensed consolidated financial statements are prepared under IAS 34, IFRS, and GEM Listing Rules, primarily using historical cost, except for fair-valued investment properties - The Company's immediate holding company is Liancheng Fire-Fighting Group Co., Ltd., and its ultimate holding company is Zhejiang Hengtai Real Estate Co., Ltd[29](index=29&type=chunk) - The financial statements are primarily prepared in accordance with International Accounting Standard 34 'Interim Financial Reporting' and International Financial Reporting Standards, and comply with the GEM Listing Rules[30](index=30&type=chunk) - The revised International Financial Reporting Standards adopted for the first time in the current period had no significant impact on the financial statements[31](index=31&type=chunk) [Accounting Policies and Standards](index=11&type=section&id=%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E4%B8%8E%E5%87%86%E5%88%99) The Group adopted revised IFRS, including amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4, and IFRS 16, with no material impact on current financial statements, and lists new IFRS issued but not yet effective - The Group has adopted several revised International Financial Reporting Standards, including amendments related to interest rate benchmark reform and COVID-19-related rent concessions, none of which had a significant impact on the current financial statements[31](index=31&type=chunk) - The report lists several issued but not yet effective International Financial Reporting Standards, including references to the Conceptual Framework and sales or contributions of assets between an investor and its associate or joint venture[33](index=33&type=chunk)[35](index=35&type=chunk) [Operating Segment Information](index=12&type=section&id=%E7%BB%8F%E8%90%A5%E5%88%86%E9%83%A8%E4%BF%A1%E6%81%AF) The Group operates in six segments: fire-fighting equipment, aquarium products, marine fire-fighting equipment, testing services, property investment, and trading; for the six months ended June 30, 2021, aquarium products generated the highest revenue, and property investment contributed the highest profit before tax - The Group's six reportable operating segments are: fire-fighting equipment, aquarium products, marine fire-fighting equipment, testing services, property investment, and trading[36](index=36&type=chunk) 2021 First Half Revenue and Profit by Operating Segment | Segment | Revenue (RMB thousands) | Segment Profit (RMB thousands) | | :------------------------- | :---------------- | :-------------------- | | **Fire-fighting equipment** | 8,155 | (2,737) | | **Aquarium products** | 15,436 | 3,404 | | **Marine fire-fighting equipment** | 3,846 | (493) | | **Testing services** | 4,365 | 795 | | **Property investment** | 3,348 | 5,785 | | **Trading** | - | - | | **Total** | 35,150 | 6,754 | - Management monitors resource allocation and assesses performance based on the results of each operating segment, with segment results measured by adjusted profit/(loss) before tax[37](index=37&type=chunk) [Revenue and Other Income](index=15&type=section&id=%E6%94%B6%E5%85%A5%E5%8F%8A%E5%85%B6%E4%BB%96%E6%94%B6%E7%9B%8A) For the six months ended June 30, 2021, the Group's total revenue was **RMB 35,150 thousand**, with aquarium product sales as the largest contributor; other income and gains significantly increased to **RMB 4,176 thousand**, primarily from fair value gains on investment properties 2021 First Half Revenue Composition | Revenue Source | 2021 First Half (RMB thousands) | 2020 First Half (RMB thousands) | | :------------------------- | :------------------------ | :------------------------ | | **Sales of pressure vessels** | 8,155 | 7,946 | | **Sales of aquarium products** | 15,436 | 9,069 | | **Sales of marine fire-fighting equipment** | 3,846 | 4,718 | | **Testing service fees** | 4,365 | 4,037 | | **Gross rental income** | 3,348 | 2,834 | | **Total revenue** | 35,150 | 28,914 | 2021 First Half Other Income and Gains | Other Income and Gains Source | 2021 First Half (RMB thousands) | 2020 First Half (RMB thousands) | | :--------------------------------- | :------------------------ | :------------------------ | | **Interest income** | 75 | 255 | | **Income from investment products** | 151 | - | | **Fair value gains on investment properties** | 3,700 | - | | **Government grants** | 217 | 291 | | **Total other income and gains** | 4,176 | 1,281 | - Revenue from Customer A was **RMB 7,986 thousand** and from Customer B was **RMB 3,828 thousand** in the first half of 2021, both exceeding **10%** of total revenue[47](index=47&type=chunk) [Profit Before Tax and Income Tax](index=17&type=section&id=%E9%99%A4%E7%A8%8E%E5%89%8D%E6%BA%A2%E5%88%A9%E4%B8%8E%E6%89%80%E5%BE%97%E7%A8%8E) For the six months ended June 30, 2021, the Group's profit before tax was **RMB 7,399 thousand**, primarily influenced by fair value gains on investment properties; income tax expense was **RMB 1,220 thousand**, mainly comprising PRC current tax and deferred tax 2021 First Half Profit Before Tax Components | Item | 2021 First Half (RMB thousands) | 2020 First Half (RMB thousands) | | :--------------------------------- | :------------------------ | :------------------------ | | **Depreciation of property, plant and equipment** | 289 | 365 | | **Depreciation of right-of-use assets** | 178 | 184 | | **Amortisation of intangible assets** | 45 | 45 | | **Impairment of other receivables** | 696 | - | | **Staff costs** | 4,964 | 5,063 | | **Fair value gains on investment properties** | (3,700) | - | 2021 First Half Income Tax Expense | Tax Type | 2021 First Half (RMB thousands) | 2020 First Half (RMB thousands) | | :------------------------- | :------------------------ | :------------------------ | | **Current tax — PRC** | 295 | 177 | | **Deferred tax** | 925 | - | | **Total tax expense for the period** | 1,220 | 177 | - Certain subsidiaries are designated as small enterprises, applying preferential corporate income tax rates (**5%** effective tax rate on the first **RMB 1,000,000** and **10%** effective tax rate on the remaining amount up to **RMB 3,000,000**)[56](index=56&type=chunk) [Earnings Per Share and Dividends](index=18&type=section&id=%E6%AF%8F%E8%82%A1%E7%9B%88%E5%88%A9%E4%B8%8E%E8%82%A1%E6%81%AF) For the six months ended June 30, 2021, basic earnings per share attributable to ordinary equity holders was **1.78 RMB cents**, a significant increase, with no dividends paid or declared during the period Earnings Per Share (As of June 30, 2021) | Metric | 2021 First Half | 2020 First Half | | :------------------------------------------------ | :----------- | :----------- | | **Profit attributable to ordinary equity holders of the Company (RMB thousands)** | 3,327 | 1,106 | | **Number of ordinary shares in issue** | 187,430,000 | 187,430,000 | | **Basic earnings per share (RMB cents)** | 1.78 | 0.65 | | **Diluted earnings per share (RMB cents)** | 1.78 | 0.65 | - Basic earnings per share is consistent with diluted earnings per share as the Group has no outstanding potential dilutive ordinary shares[60](index=60&type=chunk) - No dividends were paid or declared by the Company for the six months ended June 30, 2021[58](index=58&type=chunk) [Investment Properties and Land Resumption](index=18&type=section&id=%E6%8A%95%E8%B5%84%E7%89%A9%E4%B8%9A%E4%B8%8E%E5%9C%9F%E5%9C%B0%E6%94%B6%E5%9B%9E) The Group's Chonggu factory was reclassified as non-current assets held for sale at **RMB 28 million** fair value, generating a **RMB 3.7 million** gain; a land resumption agreement with the government for **RMB 87 million** compensation is expected to yield a pre-tax net gain of approximately **RMB 54 million** Fair Value of Investment Properties | Metric | June 30, 2021 (RMB thousands) | December 31, 2020 (RMB thousands) | | :------------------------------------------------ | :------------------------- | :-------------------------- | | **Investment properties, at fair value** | 28,000 | 24,300 | | **Less: Reclassified as non-current assets held for sale** | (28,000) | - | - The fair value of the Chonggu factory was **RMB 28,000,000** as of May 31, 2021, with a fair value adjustment gain of **RMB 3,700,000** recognized during the period[63](index=63&type=chunk) - The Company has entered into a land resumption agreement with the Qingpu District Chonggu Town House and Land Expropriation Office and the Construction Land Reduction Studio, with total compensation amounting to approximately **RMB 87,000,000**[69](index=69&type=chunk) - The land resumption is expected to result in a pre-tax net gain of approximately **RMB 54,000,000**, not considering PRC corporate income tax[70](index=70&type=chunk) [Goodwill and Other Non-Current Assets](index=21&type=section&id=%E5%95%86%E8%AA%89%E5%8F%8A%E5%85%B6%E4%BB%96%E9%9D%9E%E6%B5%81%E5%8A%A8%E8%B5%84%E4%BA%A7) As of June 30, 2021, the Group's goodwill net book value was **RMB 4,211 thousand**, consistent with year-end 2020; non-current deposits and other receivables totaled **RMB 15,005 thousand**, primarily for Tianyi Health Industrial Park property acquisition Goodwill Net Book Value | Metric | June 30, 2021 (RMB thousands) | December 31, 2020 (RMB thousands) | | :------------------------- | :-------------------------- | :-------------------------- | | **Goodwill net book value** | 4,211 | 4,211 | Deposits and Other Receivables Classified as Non-Current Assets | Item | June 30, 2021 (RMB thousands) | December 31, 2020 (RMB thousands) | | :------------------------- | :-------------------------- | :-------------------------- | | **Deposits paid** | 12,817 | 12,817 | | **Rental receivables** | 2,188 | 2,269 | | **Total** | 15,005 | 15,086 | - Deposits paid are primarily for the acquisition of six properties in Tianyi Health Industrial Park, Cixi City, Zhejiang Province, China, with a total consideration of approximately **RMB 12,817,000**, expected to be completed in 2021[75](index=75&type=chunk) [Trade and Other Receivables and Payables](index=22&type=section&id=%E8%B4%B8%E6%98%93%E5%BA%94%E6%94%B6%E5%BA%94%E4%BB%98%E6%AC%BE%E9%A1%B9) As of June 30, 2021, total trade receivables and bills receivable amounted to **RMB 4,830 thousand**, with the highest aging concentration within one month; total trade payables were **RMB 2,413 thousand**, a decrease from year-end 2020 Trade Receivables and Bills Receivable (As of June 30, 2021) | Item | June 30, 2021 (RMB thousands) | December 31, 2020 (RMB thousands) | | :------------------------- | :-------------------------- | :-------------------------- | | **Trade receivables** | 7,308 | 7,308 | | **Less: Provision for credit losses** | (2,716) | (2,716) | | **Bills receivable** | 238 | 238 | | **Total** | 4,830 | 4,830 | Aging Analysis of Trade Receivables (As of June 30, 2021) | Aging | June 30, 2021 (RMB thousands) | | :------------------------- | :-------------------------- | | **Within one month** | 1,881 | | **One to two months** | 920 | | **Two to three months** | 751 | | **Three to six months** | 801 | | **Six to twelve months** | 248 | | **One to two years** | 229 | | **Total** | 4,830 | Aging Analysis of Trade Payables (As of June 30, 2021) | Aging | June 30, 2021 (RMB thousands) | December 31, 2020 (RMB thousands) | | :------------------------- | :-------------------------- | :-------------------------- | | **Within one month** | 739 | 2,585 | | **One to two months** | 697 | 496 | | **Two to three months** | 106 | 261 | | **Over three months** | 871 | 2,427 | | **Total** | 2,413 | 5,769 | [Assets and Liabilities Held for Sale](index=23&type=section&id=%E6%8C%81%E4%BD%9C%E5%87%BA%E5%94%AE%E8%B5%84%E4%BA%A7%E4%B8%8E%E8%B4%9F%E5%80%BA) The Group's Chonggu factory was reclassified as non-current assets held for sale at **RMB 28,000 thousand** as of June 30, 2021; directly related deferred tax liabilities of **RMB 6,575 thousand** were also reclassified Assets and Liabilities Held for Sale (As of June 30, 2021) | Item | June 30, 2021 (RMB thousands) | December 31, 2020 (RMB thousands) | | :-------------------------------------------------------------------- | :------------------------- | :-------------------------- | | **Non-current assets classified as held for sale** | 28,000 | - | | **Liabilities directly associated with assets classified as held for sale — Deferred tax liabilities** | 6,575 | - | - The land resumption agreement for the Chonggu factory is subject to approval by shareholders at the general meeting to be held on August 20, 2021[81](index=81&type=chunk) [Borrowings and Related Party Transactions](index=24&type=section&id=%E5%80%9F%E8%B4%B7%E4%B8%8E%E5%85%B3%E8%81%94%E6%96%B9%E4%BA%A4%E6%98%93) As of June 30, 2021, the Group's total secured interest-bearing bank borrowings were **RMB 8,298 thousand**, primarily for Tianyi property acquisition; related party transactions included directors' emoluments, sales, and testing services, all on normal commercial terms Interest-Bearing Bank Borrowings (As of June 30, 2021) | Item | June 30, 2021 (RMB thousands) | December 31, 2020 (RMB thousands) | | :------------------------- | :-------------------------- | :-------------------------- | | **Total bank borrowings** | 8,298 | 8,747 | | **Classified as non-current portion** | (7,401) | (7,850) | | **Classified as current portion** | 897 | 897 | - Bank borrowings are secured by corporate guarantees from the developer and pledges over Tianyi properties, bearing interest at a floating rate of prime rate + **0.25%** for a term of **10 years**[89](index=89&type=chunk) Summary of Related Party Transactions (For the six months ended June 30) | Transaction Type | Related Party | 2021 (RMB thousands) | 2020 (RMB thousands) | | :------------------------- | :------------------- | :------------------ | :------------------ | | **Directors' emoluments** | Directors | 90 | 90 | | **Sales of goods** | Zhongliancheng Fire-Fighting Technology | 15 | - | | **Testing service income** | Shanghai Petrochemical Fire-Fighting Engineering | 18 | 21 | | **Key management personnel emoluments** | Key management personnel | 261 | 255 | [Litigation and Contingent Liabilities](index=26&type=section&id=%E8%AF%89%E8%AE%BC%E4%B8%8E%E6%88%96%E7%84%B6%E8%B4%9F%E5%80%BA) The Group faces litigation over leased properties, demanding relocation and land use fee payments; as of June 30, 2021, the Company vacated the property and provisioned **RMB 2,000,000** for legal fees, with no other significant contingent liabilities - The Group faces litigation concerning leased properties, where the new owner questioned the validity of the original lease after the former immediate holding company, Huasheng, pledged and had the leased property auctioned[98](index=98&type=chunk) - The lawsuit demands the Company vacate the leased property without a property certificate and pay land use fees since 2015; as of June 30, 2021, the Company has vacated the property[99](index=99&type=chunk) - The Company has provisioned **RMB 2,000,000** for this legal case and related professional fees[99](index=99&type=chunk) - As of June 30, 2021, the Group had no significant contingent liabilities[100](index=100&type=chunk) Business and Financial Review [Financial Performance Analysis](index=27&type=section&id=%E8%B4%A2%E5%8A%A1%E8%A1%A8%E7%8E%B0%E5%88%86%E6%9E%90) For the six months ended June 30, 2021, the Group's revenue grew **22%**, driven by aquarium product sales, with gross margin stable at **32%**; other income and gains surged **226%** from investment property fair value gains; administrative and finance costs increased, yet profit for the period achieved a significant **79%** growth 2021 First Half Key Financial Performance Indicators | Metric | 2021 First Half (RMB thousands) | 2020 First Half (RMB thousands) | Year-on-year Change | | :--------------------------------- | :------------------------ | :------------------------ | :------------------ | | **Revenue** | 35,150 | 28,914 | +22% | | **Cost of sales** | 23,883 | 19,989 | +20% | | **Gross Profit** | 11,267 | 8,925 | +26.2% | | **Gross Margin** | 32% | 31% | +1pp | | **Other income and gains** | 4,176 | 1,281 | +226% | | **Selling and distribution expenses** | 1,003 | 690 | +45% | | **Administrative expenses** | 6,809 | 5,807 | +17% | | **Finance costs** | 232 | 30 | +673% | | **Profit for the period** | 6,179 | 3,460 | +79% | - Revenue growth was primarily due to increased sales of aquarium products to overseas distributors resulting from global lockdown measures[103](index=103&type=chunk) - The increase in other income and gains was mainly due to fair value gains on investment properties[104](index=104&type=chunk) - The increase in administrative expenses was mainly due to impairment of other receivables[105](index=105&type=chunk) [Assets, Liabilities and Liquidity](index=29&type=section&id=%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E4%B8%8E%E6%B5%81%E5%8A%A8%E6%80%A7) As of June 30, 2021, the Group's net current assets improved, with a current ratio of **3.4**; the gearing ratio decreased to **40%**, indicating a more robust financial structure; operations are funded by internal resources, bank borrowings, and equity, supported by a **RMB 50 million** unsecured, interest-free shareholder loan commitment 2021 First Half Assets, Liabilities and Liquidity Indicators | Metric | June 30, 2021 (RMB thousands) | December 31, 2020 (RMB thousands) | | :------------------------- | :-------------------------- | :-------------------------- | | **Current assets** | 80,887 | 54,678 | | **Current liabilities** | 24,101 | 21,757 | | **Current Ratio** | 3.4 | 2.5 | | **Inventory Turnover Days** | 167 days | 58 days | | **Outstanding bank borrowings** | 8,298 | 8,747 | | **Gearing Ratio** | 40% | 49% | | **Net assets** | 79,559 | 73,380 | - The increase in current liabilities was mainly due to the reclassification of deferred tax from non-current to current portion[111](index=111&type=chunk) - Inventory turnover days increased due to an increase in raw materials and inventory in the second half of the year in preparation for sales[111](index=111&type=chunk) - Liancheng, the immediate holding company, committed to provide the Company with an unsecured, interest-free shareholder loan facility of **RMB 50,000,000**, which remained undrawn at period-end[111](index=111&type=chunk) [Business Operations Review](index=30&type=section&id=%E4%B8%9A%E5%8A%A1%E8%BF%90%E8%90%A5%E5%9B%9E%E9%A1%B5) The Company offers diverse fire-fighting equipment with certifications; the Chonggu factory's land resumption agreement is expected to yield substantial gains, improving cash flow and resource reallocation; subsidiary Shanghai Diye acquired Tianyi Health Industrial Park properties, enhancing aquarium product capacity and sales - The Company's fire-fighting equipment products include carbon dioxide, water-based, and dry powder extinguishers, holding product type approval certificates from the Fire Products Conformity Assessment Center and China Classification Society[113](index=113&type=chunk) - The Chonggu factory was included in the Chonggu Town redevelopment plan, and the Company has entered into a land resumption agreement with government authorities for total compensation of approximately **RMB 87,000,000**[114](index=114&type=chunk) - The Directors believe the land resumption will provide additional cash flow, improve working capital, and reallocate idle resources for further development[114](index=114&type=chunk) - Subsidiary Shanghai Diye acquired six properties in Tianyi Health Industrial Park, Cixi City, Zhejiang Province, for a total consideration of approximately **RMB 12,817,000**, enhancing aquarium product capacity and sales[117](index=117&type=chunk) [Impact of COVID-19 and Future Outlook](index=31&type=section&id=%E7%96%AB%E6%83%85%E5%BD%B1%E5%93%8D%E4%B8%8E%E6%9C%AA%E6%9D%A5%E5%B1%95%E6%9C%9B) The COVID-19 pandemic kept the Group's business activities at a minimum, but indirect costs were reduced by leasing out factory premises; the Company anticipates a challenging operating environment and plans to enhance competitive advantage and shareholder value by altering business strategies, exploring new markets, and identifying opportunities from the pandemic - The COVID-19 pandemic kept the Group's business activities at a minimum, but indirect costs were reduced and stable income provided by leasing out the Shanghai High-Pressure Special Gas Cylinder factory[116](index=116&type=chunk) - The Company anticipates a challenging post-pandemic economic operating environment and plans to enhance competitive advantage by altering business strategies and exploring new markets for high-margin products/businesses[117](index=117&type=chunk) - The Company will carefully identify business opportunities that may arise from the COVID-19 pandemic to enhance shareholder value[117](index=117&type=chunk) Shareholders' and Directors' Interests [Directors' and Supervisors' Interests in Shares, Underlying Shares and Debentures](index=32&type=section&id=%E8%91%A3%E4%BA%8B%E5%8F%8A%E7%9B%91%E4%BA%8B%E6%9D%83%E7%9B%8A) As of June 30, 2021, Executive Director Mr. Zhou Jinhui held **133,170,000** shares, approximately **71.05%** of total issued share capital, through controlled corporations, making him the largest single shareholder Directors' Long Positions in the Company's Shares (As of June 30, 2021) | Name | Capacity | Number of Shares | Approximate Percentage of Total Issued Share Capital | | :----------------- | :------------------- | :---------- | :----------------------------------------- | | **Mr. Zhou Jinhui** | Held by controlled corporation | 133,170,000 | 71.05% | - Mr. Zhou Jinhui holds an **80%** interest in Liancheng through Zhejiang Hengtai, and Liancheng holds **131,870,000** domestic shares and **1,300,000** H shares of the Company[121](index=121&type=chunk) - Save as disclosed above, none of the Directors and Supervisors had any other significant interests or short positions in the shares, underlying shares, and debentures of the Company or its associated corporations[122](index=122&type=chunk) [Major Shareholders' and Other Persons' Interests in Shares, Underlying Shares and Debentures](index=33&type=section&id=%E4%B8%BB%E8%A6%81%E8%82%A1%E4%B8%9C%E6%9D%83%E7%9B%8A) As of June 30, 2021, Liancheng Fire-Fighting Group Co., Ltd., Zhejiang Hengtai Real Estate Co., Ltd., and Mr. Zhou Jinhui were major shareholders, holding approximately **70.36%** and **0.69%** of shares; Liancheng's **131,870,000** domestic shares are pledged as collateral for a **RMB 198,000,000** loan Major Shareholders' Long Positions in the Company's Shares (As of June 30, 2021) | Name | Capacity | Number of Shares | Approximate Percentage of Total Issued Share Capital | | :--------------------------------- | :------------------- | :---------- | :----------------------------------------- | | **Liancheng Fire-Fighting Group Co., Ltd.** | Beneficial owner | 131,870,000 | 70.36% | | | Held by controlled corporation | 1,300,000 | 0.69% | | **Zhejiang Hengtai Real Estate Co., Ltd.** | Held by controlled corporation | 131,870,000 | 70.36% | | | Held by controlled corporation | 1,300,000 | 0.69% | | **Mr. Zhou Jinhui** | Held by controlled corporation | 131,870,000 | 70.36% | | | Held by controlled corporation | 1,300,000 | 0.69% | - The **131,870,000** domestic shares of the Company held by Liancheng Fire-Fighting Group Co., Ltd. have been pledged to an independent third party as collateral for a loan of **RMB 198,000,000**[128](index=128&type=chunk) - The pledged shares represent approximately **70.36%** of the Company's issued share capital and **100%** of its domestic shares[128](index=128&type=chunk) [Directors' and Supervisors' Interests in Contracts](index=34&type=section&id=%E8%91%A3%E4%BA%8B%E5%8F%8A%E7%9B%91%E4%BA%8B%E4%BA%8E%E5%90%88%E7%BA%A6%E7%9A%84%E6%9D%83%E7%9B%8A) For the six months ended June 30, 2021, save for related party transactions disclosed in Note 18, no directors or supervisors had any direct or indirect material interest in any significant contract entered into by the Company - Save for related party transactions, no directors or supervisors had any direct or indirect material interest in any significant contract of the Company[131](index=131&type=chunk) Other Information [Employee Information](index=34&type=section&id=%E9%9B%87%E5%91%98%E4%BF%A1%E6%81%AF) As of June 30, 2021, the Group had **132** employees, a decrease from **217** in the prior year; remuneration is determined by market levels, performance, qualifications, and experience, with contributions to defined contribution retirement schemes; the Company maintains good employee relations with no significant labor disputes Number of Employees | Date | Number of Employees | | :------------------------- | :------------------ | | **June 30, 2021** | 132 | | **June 30, 2020** | 217 | - Remuneration is determined by market levels and employee performance, qualifications, and experience, with contributions made to defined contribution retirement schemes[132](index=132&type=chunk) - The Company has not experienced any significant labor disputes or strikes and maintains good employee relations[132](index=132&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=34&type=section&id=%E8%AF%81%E5%88%B8%E4%BA%A4%E6%98%93) For the six months ended June 30, 2021, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - Neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the reporting period[133](index=133&type=chunk) [Dividends](index=34&type=section&id=%E8%82%A1%E6%81%AF%E6%94%BF%E7%AD%96) The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2021 - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2021[134](index=134&type=chunk) [Corporate Governance](index=35&type=section&id=%E4%BC%81%E4%B8%9A%E7%AE%A1%E6%B2%BB) The Company complied with all code provisions of the Corporate Governance Code in Appendix 15 of the GEM Listing Rules, committed to responsible decision-making, transparent disclosure, shareholder rights, and improved risk management; the Audit Committee reviewed the Group's unaudited financial statements - The Company has complied with all code provisions of the Corporate Governance Code set out in Appendix 15 to the GEM Listing Rules[136](index=136&type=chunk) - The Company has adopted a code of conduct for directors' securities transactions and requires all directors to comply with it[138](index=138&type=chunk) - The Audit Committee, comprising three independent non-executive directors, has reviewed the Group's unaudited financial statements for the six months ended June 30, 2021[139](index=139&type=chunk)

Shanghai Qingpu Fire-Fighting Equipment Co., Ltd.* 上 海 青 浦 消 防 器 材 股 份 有 限 公 司 (於中華人民共和國註冊成立之股份有限公司) (股份代號：8115) 二零二一年第一季度業績報告 8 僅供識別 香 港 聯 合 交 易 所 有 限 公 司GEM的 特 色 GEM的 定 位 乃 為 相 比 其 他 在 聯 交 所 上 市 的 公 司 可 能 帶 有 較 高 投 資 風 險 的 中 小型公司提供一個上市的市場。有意投資者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 一 般 為 中 小 型 公 司，在GEM買 賣 的 證 券 可 能 會 較 於 聯 交 所 主 板 買 賣 的 證 券 承 受 較 大 的 市 場 波 動 風 險，同 時 無 法 保 證 在GEM買 賣 的 證 券 會 有 高 流 通 量 的 市 場。 香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 報 告 之 內 容 概 不 負 責 ...

ANNUAL REPORT 2020 年報 Shanghai Qingpu Fire-Fighting Equipment Co., Ltd 上海青浦消防器材股份有限公司 ANNUAL REPORT 2020 (a joint stock limited company incorporated in the People's Republic of China) (Stock Code: 8115) (於中華人民共和國註冊成立之股份有限公司) (股份代號 : 8115) 年報 2020 * 僅供識別 * For identification purposes only 香港聯合交易所有限公司GEM的特色 香港聯合交易所有限公司GEM 的特色 GEM的定位乃為相比其他在聯交所上市的公司可能帶有較高投資風險的中小型公司提供一 個上市的市場。有意投資者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上市公司一般為中小型公司，在GEM買賣的證券可能會較於聯交所主板買賣的 證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 本報告（上海青浦消防器材股份 ...

Shanghai Qingpu Fire-Fighting Equipment Co., Ltd.* 上 海 青 浦 消 防 器 材 股 份 有 限 公 司 (於中華人民共和國註冊成立之股份有限公司) (股份代號：8115) 二零二零年第三季度業績報告 僅供識別 安 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GEM買 賣 的 證 券 可 能 會 較 於 聯 交 所 主 板 買 賣 的 證 券 承 受 較 大 的 市 場 波 動 風 險，同 時 無 法 保 證 在GEM買 賣 的 證 券 會 有 高 流 通 量 的 市 場。 本 報 告 乃 遵 照 聯 交 所GEM證 券 上 市 規 則（「GEM上 ...

Shanghai Qingpu Fire-Fighting Equipment Co., Ltd." 上 海 青 浦 消 防 器 材 股 份 有 限 公 司 二零二零年中期報告 * 僅供識別 香港聯合交易所有限公司GEM的特色 GEM的定位乃為相比其他在聯交所上市的公司可能帶有較高投資風險的中 小型公司提供一個上市的市場。有意投資者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 一 般 為 中 小 型 公 司，在GEM買賣的證券可能會較於聯交所 主 板 買 賣 的 證 券 承 受 較 大 的 市 場 波 動 風 險，同 時 無 法 保 證 在GEM買賣的證券 會 有 高 流 通 量 的 市 場。 本報告（上 海 青 浦 消 防 器 材 股 份 有 限 公 司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）各董事（「董 事」）願 共 同 及 個 別 對 此 負 全 責）乃遵照聯交所GEM證券上市 規 則（「GEM上 市 規 則」）之 規 定 提 供 有 關 本 公 司 之 資 料。董 事 經 作 出 ...

(Stock Code: 8115) (a joint stock limited company incorporated in the People's Republic of China) FIRST QUARTERLY REPORT 2020 * Shanghai Qingpu Fire-Fighting Equipment Co., Ltd." 上 海 青 浦 消 防 器 材 股 份 有 限 公 司 二零二零年第一季度業績報告 * 僅供識別 香 港 聯 合 交 易 所 有 限 公 司GEM的 特 色 GEM的 定 位 乃 為 相 比 其 他 在 聯 交 所 上 市 的 公 司 可 能 帶 有 較 高 投 資 風 險 的 中 小型公司提供一個上市的市場。有意投資者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 一 般 為 中 小 型 公 司，在GEM買 賣 的 證 券 可 能 會 較 於 聯 交 所 主 板 買 賣 的 證 券 承 受 較 大 的 市 場 波 動 風 險，同 時 無 法 保 證 在GEM買 賣 ...