Financial Performance - For the three months ended March 31, 2023, the group's revenue increased by approximately 46.5% year-on-year to approximately RMB 28,715,000, compared to RMB 19,596,000 in the same period of 2022[5] - The total gross profit for the same period increased by approximately 353.0% year-on-year to approximately RMB 5,440,000, up from RMB 1,201,000 in 2022[5] - The loss attributable to the company's owners for the period was approximately RMB 787,000, a decrease of about 86.0% compared to a loss of RMB 5,628,000 in the same period of 2022[5] - The group recorded a tax loss of RMB 847,000 for the period, compared to a tax loss of RMB 6,289,000 in the previous year[6] - The basic and diluted loss per share for the period was RMB 0.003, compared to RMB 0.019 in the same period of 2022[8] - The total comprehensive loss for the period amounted to RMB 1,027,000, down from RMB 5,790,000 in the previous year[8] - Revenue from EPC projects reached RMB 24,160,000, significantly up from RMB 1,268,000 in the previous year[24] - The company reported a pre-tax loss of RMB 847,000 for the three months ended March 31, 2023, compared to a pre-tax loss of RMB 6,289,000 in the same period of 2022[24] - The operating segment performance showed a profit of RMB 5,440,000, with EPC projects contributing RMB 5,843,000[18] - Revenue from external customers in Vietnam was RMB 19,785,000, while revenue from mainland China dropped to RMB 8,930,000 from RMB 19,596,000[21] Dividend and Shareholder Information - The group did not recommend the payment of an interim dividend for the period[5] - The company did not declare any interim dividend for the three months ended March 31, 2023[30] - As of March 31, 2023, the company has issued a total of 300,000,000 shares, with major shareholders holding significant stakes: Oceanic Expert Investments Limited and Meitao Holdings Limited each hold 91,350,000 shares, representing 30.45% of the issued shares[71] - The total number of shares held by the directors is 10,000,000, which accounts for approximately 1.33% of the issued share capital[70] Expenses and Costs - The cost of sales for the period was approximately RMB 23,275,000, an increase of about 26.5% from RMB 18,395,000 in the same period of 2022[52] - Selling and distribution expenses decreased to approximately RMB 325,000, down about 30.4% from RMB 467,000 in the same period of 2022[54] - Administrative expenses for the period were approximately RMB 6,706,000, a decrease of about 3.7% from RMB 6,962,000 in the same period of 2022[55] - The company incurred financing costs of RMB 118,000 during the reporting period[24] - Depreciation and amortization expenses for the period amounted to RMB 298,000[24] Strategic Focus and Market Position - The company primarily engages in environmental services such as wastewater treatment and soil remediation[12] - The company is positioned in the GEM market, which is characterized by higher investment risks compared to other listings on the Hong Kong Stock Exchange[2] - The company has increased its investment in the Vietnamese market, signing new contracts worth several tens of millions of RMB in early 2023[37] - The company is focusing on the Greater Bay Area and Vietnam as key markets for future development[37] - The company aims to maintain a cautious approach to client selection, stable income, cost control, and cash flow management as part of its strategy for 2023 and 2024[40] - The company anticipates that the business environment will remain challenging, with pressures from currency depreciation and global political issues[38] - The company believes that the economic recovery in China will take time and is adopting a pragmatic management style[40] Share Option Scheme - The company has adopted a share option scheme, granting 18,000,000 options to directors and employees, which represents 6% of the total issued shares as of March 31, 2023[77] - The share option plan aims to encourage contributions from eligible individuals and enhance the company's ability to attract and retain skilled personnel[75] - No individual has been granted more than 1% of the personal limit under the share option plan, ensuring compliance with regulatory requirements[74] - The vesting period for the share options is set at 3 years, allowing participants to exercise their options after this period[83] - The exercise price for the share options granted is set at HKD 1.19[89] - The remaining term of the share option scheme is approximately 9 years[88] - The company has not granted any additional share options since the issuance of 18,000,000 options on June 29, 2022[92] Governance and Compliance - The company has established a clear governance structure for granting options to core connected persons, requiring independent non-executive director approval[81] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the period[95] - The company has confirmed compliance with the prescribed trading standards during the period[94] - The company has adopted a code of conduct regarding securities trading for directors, which is not less stringent than the GEM Listing Rules[94] Future Outlook - The company provided a positive outlook for the upcoming quarters, projecting a revenue growth of 20% for the full year 2023[98] - New product launches are expected to contribute an additional $50 million in revenue by Q3 2023[98] - The company is investing in new technology development, allocating $10 million for R&D in the next fiscal year[98] - Market expansion plans include entering two new regions, which are projected to increase market share by 5%[98] - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $30 million earmarked for potential deals[98] - Operational efficiency improvements are expected to reduce costs by 10% over the next year[98] - The company aims to enhance customer engagement through new marketing strategies, targeting a 25% increase in customer retention rates[98] - Overall, the company remains committed to sustainable growth and innovation in its business strategies[98]

China TianYF Holdings Group Limited 中 國 天 億 福 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8196） 截 至2023年3月31日 止 三 個 月 第 一 季 度 業 績 公 告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM已 定 位 為 相 比 起 在 聯 交 所 上 市 的 其 他 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上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主 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聯交所對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任 何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 本公告乃根據聯交所GEM證券上市規則（「GEM上市規則」）的規定而提供 有關中國天億福控股集團有限公司（「本公司」）的資料，本公司 ...

Financial Performance - The company's revenue for the year ended December 31, 2022, increased by approximately RMB 138,372,000 or 116.9% to approximately RMB 256,749,000 compared to 2021[9]. - The company reported a loss attributable to owners of approximately RMB 11,547,000, a decrease of approximately RMB 5,495,000 or 32.2% from the loss of RMB 17,042,000 in 2021[10]. - The company’s total revenue for 2022 reached approximately RMB 257 million, with a significant reduction in annual losses compared to previous years[13]. - The group's gross profit for the year ended December 31, 2022, was approximately RMB 23,565,000, an increase of about 52.7% from RMB 15,429,000 in 2021[29]. - The group's loss for the year ended December 31, 2022, was approximately RMB 11,547,000, a reduction of about 32.2% from a loss of RMB 17,042,000 in 2021[35]. Revenue Sources - Revenue from a major municipal wastewater treatment equipment project contributed approximately RMB 203 million to the overall revenue for 2022[10]. - The company confirmed that its EPC projects generated revenue of approximately RMB 10,634,000 for the year ended December 31, 2022[9]. - The company’s revenue from equipment projects was approximately RMB 218,795,000 for the year ended December 31, 2022[9]. - Revenue from construction projects increased by approximately 485.7% to RMB 1,675,000 for the year ended December 31, 2022, compared to RMB 286,000 in 2021[22]. - Revenue from service concession arrangements was approximately RMB 16,014,000 for the year ended December 31, 2022, a decrease of about 16.8% from RMB 19,244,000 in 2021[25]. Market Strategy and Outlook - The company has adjusted its resource allocation to focus on the Vietnam market, which is showing signs of recovery, and has signed new contracts worth several tens of millions of RMB[13]. - The company anticipates improvements in business conditions for 2023 compared to the past three years, but maintains a cautious outlook[16]. - The company emphasizes a strategy focused on careful customer selection, stable income, cost control, and cash flow management for 2023 and 2024[16]. - The company is monitoring changing market dynamics and exploring business development opportunities in different regional markets[16]. - The company acknowledges ongoing challenges in the operating environment, including currency depreciation and global political tensions affecting economic recovery[18]. Employee and Management Information - As of December 31, 2022, the group employed 69 employees, a decrease from 88 employees in 2021[73]. - Employee costs for the year ended December 31, 2022, were approximately RMB 21.5 million, compared to RMB 20.7 million in 2021[73]. - The company plans to review and determine the remuneration of directors and senior management based on recommendations from the remuneration committee[73]. - The company aims to ensure employee compensation levels are in line with industry standards and linked to performance[73]. Corporate Governance - The company has adopted the corporate governance code as per GEM listing rules and has complied with it throughout the year ended December 31, 2022[147]. - The board consists of four executive directors, one non-executive director, and three independent non-executive directors as of December 31, 2022[150]. - The audit committee consists of three independent non-executive directors, ensuring compliance with applicable accounting standards and GEM listing rules[170]. - The company has established three committees: audit, remuneration, and nomination, to oversee specific aspects of the company's affairs[167]. - The company has appropriate insurance arrangements for directors facing legal actions related to the group's activities, which remained effective as of December 31, 2022[119]. Shareholder Information - As of December 31, 2022, the company’s major shareholders include Oceanic Expert Investments Limited and Meitao Holdings Limited, each holding approximately 30.45% of the issued shares[134]. - The company’s directors and senior management hold a total of 91,350,000 shares, representing approximately 30.45% of the issued share capital[128]. - The company has maintained sufficient public float as required by GEM listing rules as of December 31, 2022[140]. - The company will hold its annual general meeting on May 10, 2023, without suspending the registration of share transfers[142]. Risk Factors - The company faces risks related to changes in government policies and regulations that could impact the demand for its environmental services[96]. - The company’s ability to comply with new regulatory standards and government policies is crucial for its growth and competitiveness[97]. - The company faces intense competition in the wastewater treatment engineering services market, with existing competitors and new entrants posing significant challenges[99]. Compliance and Internal Controls - The audit committee reviewed the effectiveness of the internal control system and risk management functions, confirming they are adequate and effective as of December 31, 2022[191]. - The company has implemented compliance procedures to ensure adherence to relevant laws and regulations in China and Hong Kong, maintaining compliance as of December 31, 2022[106]. - The company has established a framework for the timely and appropriate disclosure of inside information as per regulatory guidelines[193]. Stock Option Plan - The company adopted a stock option plan on June 17, 2022, allowing for the issuance of a total of 18,000,000 shares, representing 6% of the total shares issued as of the adoption date and the annual performance announcement date[54][57]. - The maximum number of shares that can be issued under the stock option plan is capped at 18,000,000 shares, which corresponds to 6% of the total shares issued[57]. - The vesting period for the stock options is set at 3 years[63]. - The exercise price for the stock options will be determined based on the higher of the closing price on the grant date or the average closing price over the five trading days preceding the grant date[67].