KAISUN HOLDINGS LIMITED 凱順控股有限公司 * （於開曼群島註冊成立之有限公司） （股份代號：8203） 一帶一路參與者 截至二零二零年六月三十日止六個月 中期業績公告 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM之定位，乃為相比其他在聯交所上市之公司帶有更高投資風險之公司提供一個上市 之市場。有意投資者應瞭解投資於該等公司之潛在風險，並應經過審慎周詳考慮後方作 出投資決定。GEM之較高風險及其他特色表示創業板較適合專業及其他資深投資者。 由於GEM上市公司之新興性質所然，在GEM買賣之證券可能會較於主板買賣之證券承 受較大之市場波動風險，同時無法保證在GEM買賣的證券會有高流通量之市場。 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公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 本公告乃遵照GEM證券上市規則提供有關凱順控股有限公司（「本公司」）之資料，本公司 各董事（「董事」）對本公告共同及個別承擔責任。各董事並在作出一切合理查詢後確認， 就彼等所知及確信 ...

Financial Performance - Revenue for Q1 2020 was HKD 4,102 thousand, a decrease of 94.61% compared to HKD 76,069 thousand in Q1 2019[15] - Gross profit for Q1 2020 was HKD 1,433 thousand, down 66.05% from HKD 4,221 thousand in Q1 2019[15] - Loss from continuing operations for Q1 2020 was HKD 22,765 thousand, a reduction of 34.50% compared to HKD 34,757 thousand in Q1 2019[15] - Total comprehensive loss for Q1 2020 was HKD 12,815 thousand, compared to HKD 25,848 thousand in Q1 2019[19] - The company reported a loss per share of HKD 3.48 for Q1 2020, improved from HKD 4.91 in Q1 2019[17] - The total revenue for the first quarter of 2020 was HKD 4,102,000, compared to HKD 76,069,000 in the same period of 2019, reflecting a decrease of approximately 94.6%[47] - The net loss for Q1 2020 was approximately HKD 20.1 million, a reduction of about 33.9% compared to a loss of HKD 30.4 million in Q1 2019[121] Revenue Breakdown - The revenue breakdown for 2020 included 24% from mining and metallurgical machinery products, 30% from media services and esports events, 22% from corporate services, and 24% from supply chain management services[9] - Revenue from mining and metallurgy machinery products was HKD 995,000, a decrease from HKD 2,821,000 in 2019, representing a decline of approximately 64.7%[47] - Revenue from supply chain management services was HKD 985,000, significantly down from HKD 69,122,000 in the previous year, indicating a decline of about 98.6%[47] - The company’s revenue from corporate services was HKD 887,000, down from HKD 2,599,000 in 2019, representing a decline of approximately 65.8%[47] - The company’s media services and esports event hosting revenue was HKD 1,235,000, slightly down from HKD 1,527,000 in the previous year, indicating a decrease of about 19.1%[47] Expenses and Losses - Administrative and other operating expenses decreased to HKD 13,486 thousand in Q1 2020 from HKD 16,653 thousand in Q1 2019[15] - The company recorded an impairment loss on trade receivables and other receivables of HKD 3,986 thousand in Q1 2020, compared to a reversal of HKD 11,900 thousand in Q1 2019[15] - The company experienced a fair value loss on financial assets of HKD 7,716 thousand in Q1 2020, compared to a loss of HKD 33,044 thousand in Q1 2019[15] - The fair value loss of financial assets measured at fair value through profit or loss decreased from approximately HKD 33 million to HKD 7.7 million compared to Q1 2019[121] Equity and Liabilities - The total equity as of January 1, 2019, was HKD 57,857 million, with a share price of HKD 1,383,055 million[22] - For the quarter ending March 31, 2020, the total equity decreased to HKD 57,657 million, and the share price was HKD 1,363,055 million, reflecting a decline of approximately 0.35%[22] - The total liabilities as of March 31, 2020, were HKD 1,167,762 million, reflecting an increase from HKD 959,211 million reported previously[22] - The group’s total assets amounted to HKD 607,510 million as of March 31, 2020, while total liabilities were HKD 181,814 million[55] Cash Flow and Investments - The company reported a total cash flow of HKD (1) for operations in Q1 2020, with no cash flow from investing or financing activities[73] - The non-current assets related to investments in subsidiaries amounted to HKD 205,597,000, while current assets were only HKD 15,000[73] - The group issued non-listed bonds maturing in 2020 with a total principal amount of HKD 50 million, of which HKD 30 million was allocated for the acquisition of a railway logistics platform project in Mongolia[135] Corporate Governance - The board of directors has established several committees, including an Audit Committee, a Remuneration Committee, and a Nomination and Corporate Governance Committee, all primarily composed of independent non-executive directors[157] - The company emphasizes good corporate governance principles to enhance shareholder value and ensure transparency and independence[157] - The audit committee has been established with four independent non-executive directors, ensuring compliance with financial reporting and risk management standards[159] Market and Operational Challenges - The company anticipates that business operations in China may not return to normal levels before Q4 2020 due to ongoing pandemic-related challenges[82] - The company has implemented cost control measures and reduced personnel to alleviate cash flow pressures during the pandemic[81] - The company plans to shift offline activities to online services due to the ongoing impact of the COVID-19 pandemic[117] Shareholder Information - The largest shareholder, Mr. Chen, holds 167,263,298 shares, representing approximately 29.01% of the total issued shares[148] - The second-largest shareholder, Mr. Zhang, holds 81,950,000 shares, accounting for about 14.21% of the total issued shares[148]

Financial Performance - For the third quarter of 2019, Kaisun Holdings Limited reported a revenue of HKD 21,237,000, a decrease of 24.2% compared to HKD 28,023,000 in the same period of 2018[15] - The gross profit for the third quarter of 2019 was HKD 3,810,000, down from HKD 5,306,000 in the third quarter of 2018, representing a decline of 28.2%[15] - The operating loss for the third quarter of 2019 was HKD 27,495,000, compared to a loss of HKD 26,524,000 in the same quarter of 2018, indicating a slight increase in losses[15] - The net loss attributable to the owners of the company for the third quarter of 2019 was HKD 24,958,000, compared to a loss of HKD 17,331,000 in the same period of 2018, reflecting a 44.1% increase in losses[16] - The total comprehensive loss for the third quarter of 2019 was HKD 57,526,000, compared to HKD 35,701,000 in the third quarter of 2018, marking an increase of 61.2%[19] - The company experienced a substantial increase in operating loss for the nine months ended September 30, 2019, amounting to HKD 88,055,000, compared to HKD 11,524,000 in the same period of 2018, reflecting a 664.1% increase in losses[10] - Kaisun Holdings Limited's total comprehensive loss for the nine months ended September 30, 2019, was HKD 126,332,000, compared to HKD 20,928,000 in the same period of 2018, representing a significant increase of 503.5%[19] - The basic loss per share for the third quarter of 2019 was HKD 4.66, compared to HKD 3.01 in the same quarter of 2018, indicating a deterioration in per-share performance[16] - The total segment loss reported for the nine months ended September 30, 2019, was HKD (75,578) thousand, compared to a profit of HKD 5,055 thousand for the same period in 2018[84] - The comprehensive loss for the period was HKD (86,406) thousand, significantly higher than the loss of HKD (10,088) thousand in the previous year[84] Revenue Breakdown - Kaisun Holdings Limited's revenue for the nine months ended September 30, 2019, was HKD 123,619,000, an increase of 15.0% from HKD 107,081,000 in the same period of 2018[15] - For the three months ended September 30, 2019, revenue from supply chain management services was HKD 11,354,000, a decrease from HKD 13,965,000 in the same period of 2018[77] - The revenue from mining and metallurgy machinery products for the three months ended September 30, 2019, was HKD 6,335,000, compared to HKD 5,141,000 in the same period of 2018[77] - The total revenue for the nine months ended September 30, 2019, was HKD 123,619,000 from media services and esports events, a significant increase from HKD 59,660,000 in the same period of 2018[77] - The total revenue from coal production and extraction for the nine months ended September 30, 2019, was HKD 929,000, down from HKD 4,840,000 in the same period of 2018[77] Assets and Liabilities - The company's total assets as of September 30, 2019, were 328,820 thousand HKD, a decrease from 454,027 thousand HKD as of January 1, 2019[22] - The total equity as of September 30, 2019, was 449,279 thousand HKD, showing an increase from 439,115 thousand HKD as of January 1, 2018[22] - Total liabilities increased by HKD 3,761,000, with non-current lease liabilities rising by HKD 2,708,000 and current lease liabilities by HKD 1,053,000[47][48] - The accumulated losses as of September 30, 2019, were (1,040,460) thousand HKD, reflecting a worsening financial position compared to (972,204) thousand HKD as of January 1, 2018[22] Financial Reporting Standards - The company has adopted new and revised International Financial Reporting Standards (IFRS) effective from January 1, 2019, which may impact future financial reporting[29] - The implementation of IFRS 16 on leases has been adopted by the company, which requires a single asset-liability model for all leases[32] - The financial statements are prepared in accordance with International Financial Reporting Standards, ensuring compliance with global accounting standards[27] Investments and Acquisitions - The acquisition of Pineapple Media increased the group's ownership from 30% to 70% for HKD 3,200,000, with identifiable net assets valued at HKD 5,204,000[106] - Pineapple Media contributed approximately HKD 7,252,075 to the group's revenue and HKD 484,656 to profit during the reporting period[108] - The acquisition of Pineapple Media resulted in a remeasurement loss of HKD 545,996 recognized in other expenses[108] - If the acquisition had been completed on January 1, 2018, total revenue from continuing operations would have been HKD 11,317,210, with profit of HKD 1,472,961[108] - The goodwill from the acquisition is attributed to expected profitability in new markets and anticipated operational synergies[109] Market and Operational Insights - The company’s main operating location is in Hong Kong, indicating a focus on the local market for its business operations[25] - The company is listed on the GEM of the Hong Kong Stock Exchange, which may affect its capital raising strategies[25] - The company plans to enhance its sales team and improve after-sales service to gradually increase future revenue[119] - The logistics center in Mongolia is expected to handle an annual throughput of 1.8 million tons, leveraging its strategic location between Russia and China[132] - The exploration work in Xinjiang is nearing completion, with approximately 70% of the exploration tasks finished, and the area of the mining site expanded from 1.1 square kilometers to 8.8 square kilometers[128][149] Shareholder Information - The group’s directors and senior executives held a total of 29.00% of the issued shares as of September 30, 2019[190] - As of September 30, 2019, the total number of shares held by Mr. Chen Li-ji is 167,193,298, representing 29.00% of the issued shares[198] - Mr. Zhang Xiong-feng holds 77,990,000 shares, which accounts for 13.53% of the total shares[198] - The company has not disclosed any additional significant shareholders beyond those mentioned as of September 30, 2019[199] Corporate Social Responsibility - The company was awarded the Outstanding Corporate Social Responsibility Award by the Mirror for its contributions in corporate social responsibility[166]

Financial Performance - Total revenue for the six months ended June 30, 2019, was HKD 102,382,000, representing a 223.6% increase compared to HKD 31,637,000 in 2018[8] - The operating loss for the six months ended June 30, 2019, was HKD 60,560,000, compared to a profit of HKD 15,001,000 in the same period of 2018, reflecting a decline of 782.9%[8] - The net loss attributable to the company for the six months ended June 30, 2019, was HKD 56,290,000, compared to a profit of HKD 11,031,000 in 2018, marking a significant decrease[12] - The gross profit for the six months ended June 30, 2019, was HKD 12,728,000, down from HKD 11,832,000 in 2018, indicating a slight decline of 7.6%[8] - The company reported a loss per share of HKD 10.33 for the six months ended June 30, 2019, compared to earnings of HKD 1.92 in the same period of 2018[12] - The total comprehensive loss for the six months ended June 30, 2019, was HKD 68,806,000, compared to HKD 14,773,000 in 2018, reflecting a significant increase in losses[14] Expenses and Liabilities - The company experienced a significant increase in administrative and other operating expenses, totaling HKD 35,175,000 for the six months ended June 30, 2019, compared to HKD 32,058,000 in 2018[11] - The company reported a fair value loss on financial assets of HKD 16,161,000 for the six months ended June 30, 2019, compared to a gain of HKD 29,628,000 in 2018[11] - The company’s other income and gains for the six months ended June 30, 2019, were HKD 450,000, down from HKD 5,469,000 in 2018, indicating a decline in other income sources[11] - The company’s total liabilities increased significantly, impacting its financial position and operational flexibility moving forward[11] - Total liabilities increased to HKD 151,201,000, up from HKD 127,655,000, representing an increase of 18.4%[18] Assets and Cash Flow - As of June 30, 2019, non-current assets totaled HKD 228,964,000, a decrease of 2.4% from HKD 233,825,000 as of December 31, 2018[15] - Current assets increased to HKD 393,071,000, down from HKD 432,047,000, reflecting a decrease of 9.0%[15] - The company's cash and cash equivalents rose significantly to HKD 63,174,000, compared to HKD 20,730,000 in the previous year, marking an increase of 205.5%[15] - The net cash generated from operating activities was HKD 37,726,000, compared to a net cash used of HKD 4,508,000 in the previous year[26] - The company reported a net cash inflow from financing activities of HKD 11,780,000, an increase from HKD 7,002,000 in the prior year[26] Inventory and Trade Receivables - The company's inventory increased significantly to HKD 9,673,000 from HKD 3,700,000, reflecting a rise of 161.1%[15] - The total trade receivables increased to HKD 90,298,000 as of June 30, 2019, up from HKD 75,976,000 at the end of 2018, reflecting a growth in sales or credit terms extended to customers[104] Acquisitions and Investments - The acquisition of Pineapple Media increased the company's stake from 30% to 70% for HKD 3,200,000, with the acquired trade receivables amounting to HKD 809,860[121] - The net assets acquired from Pineapple Media included fixed assets valued at HKD 62,000 and cash of HKD 8,110,000, resulting in a goodwill of HKD 1,118,000[124] - Pineapple Media contributed approximately HKD 7,252,075 to the company's revenue and HKD 484,656 to the profit for the period since acquisition[140] Financial Reporting Standards - The company adopted the International Financial Reporting Standard 16 (IFRS 16) for leases, effective from January 1, 2019, which requires a single asset-liability model for all leases[34] - As of January 1, 2019, the company recognized a right-of-use asset increase of HKD 3,761,000 and total liabilities increase of HKD 3,761,000 on its balance sheet due to the adoption of IFRS 16[44] - The company did not restate comparative financial information for the year 2018 and continued to report based on the previous standard, IAS 17[35] Market and Strategic Developments - The company plans to explore other markets for its service-oriented businesses due to uncertainties in Hong Kong[149] - The investment committee has decided to sell part of its stock holdings to realize profits amid market volatility[149] - The group aims to continue focusing on existing Belt and Road projects while maintaining market awareness and possibly implementing exit strategies for some projects[150] - The company signed a cooperation agreement with China Railway Construction Mongolia to complete the remaining construction of the railway logistics center in Joroi City, allowing for the official use of dedicated freight platforms and lines after obtaining government approvals[175] Employee and Operational Costs - The company reported an increase in employee costs, including director remuneration, to HKD 11,970,000 for the six months ended June 30, 2019, compared to HKD 10,715,000 in 2018[88]

Financial Performance - Revenue for Q1 2019 reached HKD 76,069,000, representing a year-on-year increase of 528.7% from HKD 12,100,000 in Q1 2018[8] - Gross profit for Q1 2019 was HKD 4,221,000, up 530.9% compared to HKD 669,000 in the same period last year[9] - The company reported an operating loss of HKD 34,757,000 for Q1 2019, a significant decline from a profit of HKD 33,345,000 in Q1 2018, marking a year-on-year change of -204.2%[13] - The total comprehensive loss for Q1 2019 was HKD 25,848,000, compared to a comprehensive income of HKD 32,133,000 in Q1 2018[22] - The loss attributable to the owners of the company for Q1 2019 was HKD 30,409,000, compared to a profit of HKD 23,234,000 in the same quarter of the previous year[20] - The company reported a basic loss per share of HKD 4.91 for Q1 2019, compared to earnings of HKD 4.28 per share in Q1 2018[20] - The company recorded a fair value loss on financial assets of HKD 33,044,000 in Q1 2019, compared to a gain of HKD 43,862,000 in Q1 2018[20] - The group’s revenue for Q1 2019 was approximately HKD 76.1 million, an increase of about 528.7% compared to HKD 12.1 million in Q1 2018[154] - Gross profit for Q1 2019 increased by approximately 530.9% to HKD 4.2 million, up from HKD 669,000 in Q1 2018, primarily due to increased revenue from supply chain management services[157] - Operating loss for Q1 2019 was approximately HKD 34.8 million, compared to a profit of HKD 33.3 million in Q1 2018, mainly due to a fair value loss of HKD 33 million on financial assets[157] - Total loss for Q1 2019 was approximately HKD 30.4 million, a decrease of about 230.9% compared to a profit of HKD 23.2 million in Q1 2018[157] Revenue Breakdown - The revenue breakdown for Q1 2019 showed that management services accounted for 91%, while media services and e-sports events contributed 2%[15] - The revenue breakdown includes supply chain management services at HKD 69,122 thousand, mining and metallurgy machinery products at HKD 2,821 thousand, and media services and esports events at HKD 1,527 thousand[55] Financial Assets and Liabilities - Financial assets measured at fair value through profit or loss include listed securities valued at HKD 98,924,000 as of March 31, 2019[45] - The company has non-listed equity securities valued at HKD 25,900,000 measured at fair value through other comprehensive income as of March 31, 2019[45] - Total financial assets measured at fair value as of March 31, 2019, amount to HKD 124,824,000[45] - The company has a financial liability in the form of put options valued at HKD 4,300,000 as of March 31, 2019[45] - The fair value of equity securities listed in Hong Kong was HKD 98,924 thousand as of March 31, 2019, down from HKD 157,374 thousand in the previous year[77] - The group held financial assets at fair value of approximately HKD 98.9 million as of March 31, 2019, all invested in listed securities in Hong Kong[159] - The fair value loss on financial assets for Q1 2019 was approximately HKD 33 million, compared to a fair value gain of HKD 43.9 million in Q1 2018[159] Corporate Governance - The company is registered in the Cayman Islands and listed on the Hong Kong Stock Exchange's Growth Enterprise Market[29] - The financial statements are prepared in accordance with International Financial Reporting Standards and comply with the relevant disclosure requirements[31] - The company has established good corporate governance principles to enhance shareholder value and maintain transparency and independence[191] - The Audit Committee, composed of four independent non-executive directors, reviewed the unaudited first-quarter results for the period ending March 31, 2019, ensuring compliance with applicable accounting standards[195] - The company adopted a code of conduct for securities trading by directors, ensuring compliance with GEM Listing Rules during the reporting period[196] Future Plans and Strategies - The company plans to continue expanding its management services and media offerings to enhance revenue streams in the future[15] - The company is focusing on expanding its supply chain management services and exploring new business opportunities in the Greater Bay Area[154] - The company is actively reviewing the structure and resource allocation of its existing projects to align with its business development direction[81] - The company is focusing on its diverse Belt and Road Initiative projects, emphasizing operational efficiency and resource allocation[81] - The company plans to expand its avocado cultivation area in Yunnan to 3,000 acres, indicating a strong focus on agricultural investment and development[137] - The company is enhancing its supply chain management services in Mongolia and plans to operate the railway station in Joyil City after obtaining necessary approvals[133] - The group is actively developing its esports subsidiary, EvoLoop, with plans to expand the GIRLGAMER brand globally, aiming to increase participation and exposure[139] Shareholder Information - As of March 31, 2019, the largest shareholder, Mr. Chan, held 166,793,298 shares, representing 28.93% of the company[176] - Major shareholders include Chen Libei with 166,793,298 shares (28.93%) and Yang Baoyi with 165,793,298 shares (28.93%) as of March 31, 2019[182] - Zhang Xiongfeng holds 74,990,000 shares (13.01%) and Wu Mingqin, as his spouse, is also considered to hold the same amount[183] Miscellaneous - The company did not recommend any dividend for the three months ending March 30, 2019, consistent with no dividend declared for the same period in 2018[69] - The company continues to operate its securities trading business to assist in covering management costs[85] - The company maintained the 2016 Share Incentive Plan, which aims to attract and retain key employees, including directors and other staff[185] - The company purchased 520,000 shares at a total cost of approximately HKD 167,250 under the 2016 Share Incentive Plan during the three months ended March 31, 2019[190] - The company has not applied any new standards or interpretations that have not yet come into effect during the current accounting period[35]

Financial Performance - Revenue for 2018 was HKD 149,076,000, a significant increase of 64.3% compared to HKD 90,680,000 in 2017[20] - The company reported a profit attributable to owners of the company of HKD 10,510,000 in 2018, compared to a profit of HKD 49,307,000 in 2017, reflecting a decrease of 78.7%[20] - Total assets increased to HKD 665,872,000 in 2018, up from HKD 562,404,000 in 2017, representing a growth of 18.4%[20] - Total liabilities rose to HKD 166,475,000 in 2018, compared to HKD 81,870,000 in 2017, indicating an increase of 103.5%[20] - The group's revenue for the year ended 2018 was approximately HKD 149.1 million, an increase of about 64.4% compared to HKD 90.7 million in 2017[154] - Gross profit for the year ended 2018 increased by approximately 308.6% to HKD 33.4 million, up from HKD 8.2 million in 2017[154] - Operating expenses totaled approximately HKD 72.4 million for the year ended 2018, an increase of about 21.5% from HKD 59.6 million in 2017[155] - The group's operating profit for the year ended 2018 was approximately HKD 4.1 million, a significant decrease from HKD 73.4 million in 2017[155] - Total profit for the year ended 2018 was approximately HKD 5 million, a decrease of about 93.6% compared to HKD 78.3 million in 2017[159] - The comprehensive income attributable to owners of the company for the year ended 2018 was approximately HKD 10 million, down from HKD 62.7 million in 2017[160] Business Strategy and Development - The company has transitioned from being a heavy asset player in the energy and coal industry to a diversified holding company, reflecting a strategic shift in its business model[24] - The company aims to establish regular dividend payments to shareholders in future annual general meetings, marking a commitment to shareholder returns[24] - The name change from Kai Shun Energy Group to Kai Shun Holdings in August 2018 reflects the company's diversified business portfolio[24] - The company has expanded its industry focus to include light asset sectors, in addition to its traditional energy and coal operations[24] - The company has been involved in various projects across the Belt and Road regions, indicating a broad geographical and sectoral reach[24] - The company acknowledges the challenges faced in the coal and commodity sectors, emphasizing the need for adaptability in a changing global economy[24] - The company plans to strategically increase investments in mining, commodity trading, supply chain management, and machinery production in 2019, leveraging favorable government policies[41] - The company has established a diverse business portfolio, including sectors such as mining, supply chain management, agriculture, and event planning, to mitigate risks and enhance revenue streams[40] - The company aims to enhance its project selection process to ensure alignment with future development directions, maintaining a robust and diverse business portfolio[32] Operational Highlights - The coal transportation volume in 2018 reached 1.66 billion tons, an increase of 10.5% year-on-year, contributing to the company's supply chain management services growth[51] - The company is positioned to benefit from the increase in railway freight capacity, with a target to increase coal transportation by 1.5 million tons in 2019[51] - The company has completed the second phase of the logistics base project in Shandong and signed an agreement to acquire a railway platform in Mongolia[41] - The second phase of the coal yard leveling project has been completed, covering an area of nearly 40,000 square meters, with an annual unloading capacity of 3 million tons and a storage capacity of 480,000 tons[59] - Xinjiang Xingliang Mining, a wholly-owned subsidiary, is in the process of upgrading its mining license from 90,000 tons to 1.2 million tons, positioning it as a major coal mine in the Turpan region[67] Environmental and Regulatory Compliance - The company is focusing on environmental standards by implementing multiple environmental protection measures at its logistics center to comply with national regulations[59] - The company emphasizes the importance of corporate governance and compliance with regulatory standards in its operations[194] Human Resources and Governance - The total employee cost for the year was approximately HKD 28.6 million, an increase from HKD 26.1 million in 2017[184] - The group employed 122 staff members as of December 31, 2018, down from 171 in 2017, reflecting a focus on optimizing human resources[183] - The executive team includes experienced professionals with backgrounds in banking, investment, and asset management, with over 30 years of experience collectively[190][191] - The company has a strong governance structure with independent non-executive directors overseeing audit and nomination committees[194][195] - The chairman of the audit committee has over 20 years of experience in finance and management, enhancing the company's oversight capabilities[194] Future Outlook - The group aims for a target payout ratio of 20% of the annual profit eligible for dividend distribution, retaining the remainder for future capital[174] - The group plans to expand its agricultural investment and development by providing green financial services in collaboration with mainland financial enterprises[151] - The group is optimistic about the future development of the cement trade due to the evident upward trend in cement prices, which will enhance business confidence[84] - The group supported Xiangli Agricultural Co., Ltd. in governance aspects including corporate control, internal monitoring, and financial reporting[88]