机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，资讯科技器材行业市盈率（TTM）平均值为44.22倍，行业中值1.64倍。海天天线市盈 率-25.45倍，行业排名第37位；其他长虹佳华（03991.HK）为3.45倍、SIS INT'L（00529.HK）为3.47 倍、南方通信（01617.HK）为3.77倍、普天通信集团（01720.HK）为5.79倍、华显光电（00334.HK） 为6.26倍。 6月12日，截至港股收盘，恒生指数下跌1.36%，报24035.38点。海天天线（08227.HK）收报0.249港元/ 股，上涨8.26%，成交量4000股，成交额996港元，振幅0.0%。 最近一个月来，海天天线累计跌幅7.26%，今年来累计跌幅33.33%，跑输恒生指数21.47%的涨幅。 财务数据显示，截至2024年12月31日，海天天线实现营业总收入2196.01万元，同比增长67.74%；归母 净利润-1588.23万元，同比增长63.05%；毛利率33.83%，资产负债率193.52%。 资料显示，西安海天天线科技股份有限公司始创于1992年,1999年10月改组西安海天天线科技 ...

Financial Performance - The total revenue for the year ending December 31, 2024, was approximately RMB 21.96 million, representing an increase of about 168% compared to the same period in 2023[10]. - Revenue from antenna product sales and related services increased from approximately RMB 7.73 million in 2023 to about RMB 14.31 million, accounting for approximately 68% of the company's main business income[11]. - Revenue from agricultural product sales rose from approximately RMB 4.55 million last year to about RMB 6.88 million, making up around 32% of the company's main business income[12]. - The company achieved a gross profit of approximately RMB 7.43 million, with a gross margin of about 34%, an increase of 18% compared to the gross margin of approximately 16% in 2023[15]. - The net loss for the year was approximately RMB 15.76 million, a reduction of about 63% compared to the net loss of approximately RMB 42.99 million in 2023[21]. - Management expenses decreased from approximately RMB 19.21 million last year to about RMB 12.16 million this year, a reduction of approximately 37%[19]. - The company reported a segment profit of approximately RMB 0.54 million from the agricultural products sales segment, while the antenna products sales segment reported a loss of approximately RMB 9.59 million due to production scale being below normal operating levels[18]. - As of December 31, 2024, sales to the top five customers accounted for approximately 68.85% of the company's main business revenue, down from 81.12% in 2023[26]. - The company reported a net loss of RMB 15,760,875.92 for the fiscal year 2024, indicating a continued loss trend[67]. - As of the end of 2024, the company's net asset value was RMB -46,759,183.15, reflecting significant financial distress[67]. - The operating revenue for 2024 was RMB 21,960,142.24, with a negative operating cash flow of RMB -2,064,152.68[67]. - Current liabilities exceeded current assets by RMB 59,406,846.97, leading to overdue debts[67]. Corporate Governance - The board of directors consists of nine members, including the chairman and vice-chairman, ensuring a balance of executive and non-executive directors[40]. - The company has adopted and complied with all corporate governance code provisions as of the reporting date[38]. - The board is responsible for overseeing the preparation of financial statements, ensuring they present a true and fair view of the group's financial position and performance[42]. - The company had no CEO position as of December 31, 2024, with daily management handled by all executive directors[44]. - The board held a total of 7 meetings during the fiscal year ending December 31, 2024, ensuring effective management and monitoring of the group's operations[46]. - All directors attended 100% of board meetings and shareholder meetings, demonstrating strong engagement and commitment[47]. - The company emphasizes continuous professional development for all directors, ensuring they stay updated on governance and regulatory requirements[48]. - The board consists of one female director and eight male directors, reflecting a gender diversity ratio of 11% female to 89% male[53]. - The company recognizes the importance of diversity in its workforce, with a gender ratio of 67% male and 33% female among employees[54]. - The company has implemented appropriate insurance for directors and senior officers to protect against risks arising from their duties[51]. - All independent non-executive directors confirmed their independence according to GEM listing rules, ensuring unbiased oversight[52]. - The company is committed to improving gender equality within its workforce and aims to enhance gender balance in the medium term[55]. - The board will continue to review its diversity policy to ensure its ongoing effectiveness and alignment with stakeholder expectations[54]. Risk Management and Compliance - The company acknowledges significant uncertainties that may impact its ability to continue as a going concern[68]. - Despite the financial challenges, the preparation of financial statements is based on the assumption of the company's ability to operate as a going concern[69]. - The company has established an effective risk management and internal control system in accordance with the corporate governance code principle D.2[76]. - The board will regularly review the dividend policy, considering factors such as financial performance, retained earnings, liquidity, and future cash needs[81]. - The company has adopted a policy for timely and accurate disclosure of significant information to shareholders[77]. - The company has confirmed the effectiveness of its shareholder communication policy after a review for the year ending December 31, 2024[85]. - The company has established a robust anonymous reporting mechanism to encourage employees to report any illegal or dishonest behavior, ensuring confidentiality for whistleblowers[161]. - The company has implemented strict internal controls to prevent corruption and has established an audit committee to oversee compliance with financial reporting and governance requirements[160]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development, focusing on resource efficiency and carbon reduction[100]. - The company emphasizes the importance of a quality work environment for employees and safety in the production process[100]. - The company conducts regular ESG meetings to ensure compliance with legal requirements and stakeholder expectations[95]. - The ESG report covers the company's overall performance, risks, strategies, and commitments from January 1, 2024, to December 31, 2024[96]. - The group adheres to the reporting principles outlined in the Environmental, Social, and Governance (ESG) Reporting Guidelines, ensuring the importance of stakeholder opinions in identifying key issues[101]. - The board of directors is responsible for overseeing ESG risk management and has established a vision focused on people, technological innovation, social service, and excellence[111]. - The ESG working group identifies and assesses ESG risks and opportunities, coordinating audits and information disclosure[112]. - The group actively engages with stakeholders through various communication channels to understand their concerns and improve relevant policies[109]. - The group emphasizes the importance of financial status and operational conditions to shareholders and investors, ensuring transparency through annual meetings and financial reports[108]. - The group has established a dedicated investor hotline to facilitate timely communication with investors, media, and the public[109]. - The group is committed to enhancing its ESG performance and creating greater value for the community[108]. - The company has established effective management policies and internal control systems for ESG issues, ensuring compliance with ESG reporting guidelines[118]. - The company adheres to national environmental laws and regulations, including the Air Pollution Control Ordinance and the Solid Waste Pollution Prevention Law, ensuring no significant air pollution emissions during production[119]. - Waste disposal is managed under strict guidelines, with no significant hazardous waste generated during operations[120]. - The company implements measures to reduce electronic waste, including encouraging the reuse of functioning electronic products and ensuring quality in purchasing[121]. - Wastewater generated is primarily domestic, treated appropriately before discharge into municipal systems to minimize environmental impact[122]. - The company has a clear departmental division for environmental supervision, with administrative departments overseeing energy consumption and environmental protection measures[117]. - The total energy consumption decreased to 199,569.89 kWh in 2024 from 350,509.09 kWh in 2023, representing a reduction of approximately 43%[129]. - Greenhouse gas emissions (Scope 1 and Scope 2) dropped to 101,928.44 kg CO2 equivalent in 2024 from 194,945.13 kg in 2023, a decrease of about 48%[129]. - The company achieved a reduction in nitrogen oxides (NOx) emissions to 19.59 kg in 2024 from 25.73 kg in 2023, a decline of approximately 24%[129]. - The total water consumption was reduced to 1,342.00 cubic meters in 2024 from 3,992.00 cubic meters in 2023, indicating a decrease of about 66%[129]. - The density of greenhouse gas emissions per million RMB revenue improved to 7,123.49 kg in 2024 from 25,235.09 kg in 2023, reflecting a significant enhancement in efficiency[129]. - The company has implemented measures to encourage employees to adopt energy-saving habits, such as turning off appliances when not in use and promoting recycling[124]. - The organization has established an effective environmental management system to mitigate the impact of its operations on the environment[125]. - The company is actively managing climate-related risks and has developed emergency response plans to ensure business continuity during extreme weather events[126]. - The total hazardous waste generated decreased to 3.93 kg in 2024 from 6.55 kg in 2023, a reduction of approximately 40%[129]. - The company is committed to continuous improvement in resource efficiency and regularly reviews its environmental measures to adapt to operational conditions[128]. Employee Management and Development - The group had 39 full-time employees, down from 56 in 2023, with total employee costs amounting to approximately RMB 4.61 million, a decrease from RMB 11.88 million in 2023[31]. - Employee turnover rate decreased to 35.79% in 2024 from 63.91% in 2023[135]. - Total number of employees reduced to 39 in 2024 from 56 in 2023[137]. - Male employees decreased to 26 in 2024 from 38 in 2023, while female employees decreased to 13 from 18[137]. - Full-time employees decreased to 37 in 2024 from 52 in 2023, and part-time employees decreased to 2 from 4[137]. - Employee retention improved significantly across age groups, with the turnover rate for ages 20-29 rising to 200.00% in 2024 from 93.33% in 2023[135]. - The company adheres to various labor laws and regulations, ensuring compliance in employee treatment and benefits[134]. - The company emphasizes a safe working environment, strictly following safety regulations and conducting regular safety training[138]. - The company provides various employee benefits, including paid annual leave, maternity leave, and sick leave[131]. - The company has established a comprehensive performance evaluation and promotion mechanism to ensure fair opportunities for all employees[132]. - The company maintains a commitment to diversity and equal opportunity in hiring and promotion practices[133]. - Total number of employees participating in training decreased from 44 in 2023 to 38 in 2024, representing a participation rate of 97.44%[141]. - The average training hours for male employees increased from 37 hours in 2023 to 38 hours in 2024, while female employees maintained an average of 52 hours[141]. - The company has implemented multiple safety measures to ensure occupational health and safety, with no reported work-related fatalities or serious injuries in the past three years[140]. - The internal promotion mechanism is based on fairness and transparency, prioritizing existing employees for vacancies to enhance confidence and reduce turnover[143]. Supply Chain Management - Approximately 25 domestic suppliers were managed during the reporting period, emphasizing the importance of supply chain management for sustainability and product quality[146]. - The procurement management system includes criteria for supplier selection and risk assessment, ensuring a competitive and transparent bidding process[147]. - The company has not employed child labor or forced labor, adhering strictly to local labor laws and regulations[145]. - Employee training programs include onboarding, skills training, mindset training, and comprehensive quality assessments to enhance overall employee capabilities[142]. - The proportion of employees participating in training increased significantly from 78.57% in 2023 to 97.44% in 2024[141]. - The company actively monitors and prohibits harassment and bullying in the workplace, maintaining high ethical standards[144]. - The company advocates for a green and sustainable supply chain model, emphasizing environmental protection from R&D to production[148]. - Regular audits of suppliers are conducted to ensure compliance with contractual obligations and national laws, promoting a sustainable supply chain[149]. - The company adheres strictly to various laws regarding product quality and consumer rights, ensuring environmentally friendly and safe production processes[150]. - No significant complaints regarding product quality or service delivery were received during the reporting period[151]. - The company has established a comprehensive customer complaint and product recall compensation mechanism, ensuring clear guidelines for handling complaints[154]. - There were no product recalls due to safety and health issues during the reporting period[155]. - The company places high importance on intellectual property protection, adhering to relevant laws and implementing strict confidentiality measures[156]. - No significant intellectual property infringement incidents occurred during the reporting period, with reasonable measures taken to prevent such infringements[157]. - The company adheres to high standards of integrity and has established a series of anti-corruption management systems in response to China's anti-corruption policies[158]. - The company has not identified any significant legal cases related to corruption, bribery, extortion, fraud, or money laundering during the reporting period[162].

Financial Performance - The company reported a net loss attributable to shareholders of RMB -458,090,029.50 for the year ended December 31, 2024, compared to a loss of RMB -442,207,777.30 in 2023[6]. - The net loss for 2024 was RMB 15,760,875.92, an improvement compared to a net loss of RMB 42,993,598.60 in 2023, indicating a reduction of approximately 63.4%[10]. - The total profit (loss) for 2024 was RMB -15,747,640.30, compared to RMB -42,986,960.99 in 2023, reflecting a notable improvement[8]. - The company reported a net profit of -15,760,875.92 RMB for the fiscal year 2024, indicating continued losses[19]. - The company reported a significant increase in operational efficiency, reducing employee compensation expenses by approximately RMB 660,000[70]. Revenue and Costs - Total operating revenue for 2024 reached RMB 21,960,142.24, a significant increase from RMB 13,091,468.20 in 2023, representing a growth of approximately 67.5%[8]. - Total operating costs decreased to RMB 32,593,905.84 in 2024 from RMB 41,019,887.74 in 2023, a reduction of about 20.5%[8]. - Revenue from antenna products and related services was 14,308,783.44, while the cost of goods sold was 7,678,793.51, resulting in a segment loss of 9,593,077.66[50]. - The cost of goods sold for the year was ¥14,531,699.55, compared to ¥11,034,415.18 in the previous year, representing an increase of 31.5%[32]. Assets and Liabilities - The total assets of Xi'an Haitian Antenna Technologies Co., Ltd. decreased from RMB 58,564,833.84 as of December 31, 2023, to RMB 49,999,190.96 as of December 31, 2024, representing a decline of approximately 14.7%[4]. - Total liabilities increased from RMB 89,563,141.07 in 2023 to RMB 96,758,374.11 in 2024, reflecting an increase of about 8.1%[5]. - The company's total equity decreased from RMB -30,998,307.23 in 2023 to RMB -46,759,183.15 in 2024, indicating a decline in shareholder equity[6]. - The total liabilities to total assets ratio increased from approximately 1.53 in 2023 to 1.94 in 2024, indicating a higher leverage position[5]. - The company has reported a significant increase in liabilities, with current liabilities exceeding current assets by 59,406,846.97 RMB[19]. Cash Flow and Financial Health - The company's cash and cash equivalents rose significantly from RMB 1,991,322.95 in 2023 to RMB 3,134,837.66 in 2024, an increase of approximately 57.3%[4]. - The operating revenue for 2024 was 21,960,142.24 RMB, with a negative operating cash flow of -2,064,152.68 RMB[19]. - As of the end of 2024, the company's net assets stood at -46,759,183.15 RMB, reflecting significant financial challenges[19]. - The company has disclosed plans to improve its financial situation, although there are significant uncertainties regarding its ability to continue as a going concern due to ongoing losses and liabilities exceeding assets[63]. Research and Development - Research and development expenses decreased to RMB 1,969,895.65 in 2024 from RMB 5,657,550.50 in 2023, a decline of about 65.2%[8]. - Research and development expenses for the year were approximately RMB 1,970,000, primarily aimed at improving existing antenna products based on market and customer feedback[71]. - In 2025, the company will focus on independent innovation and enhancing product R&D to improve competitiveness, particularly in lens technology applications in various fields including WiFi devices, aiming for a gain of up to 10dBi[78]. Management and Governance - The company has adopted and complied with all corporate governance codes as per GEM listing rules, ensuring transparency and accountability[91]. - The audit committee reviewed the group's annual performance for the year ending December 31, 2024, and the interim performance for the six months ending June 30, 2024, confirming compliance with applicable accounting standards and regulations[94]. - The board confirmed that the information in the announcement is accurate and complete, with no misleading or fraudulent elements[110]. Customer and Supplier Relations - Sales to the top five customers accounted for approximately 68.85% of the company's main business revenue for the year ending December 31, 2024, down from 81.12% in 2023[80]. - The procurement amount from the top five suppliers represented about 44% of the total procurement for the year ending December 31, 2024, compared to 43.96% in 2023[80]. Future Outlook - The company plans to enhance internal management and optimize personnel allocation to improve efficiency in 2025[19]. - The company is actively working on reducing costs and expenses by fully utilizing existing resources[21]. - The company plans to actively participate in innovative application projects like "Signal Upgrade" and "Broadband Frontier," promoting lens antennas in remote areas to improve network service quality and support local economic development[79].

Financial Performance - For the six months ended June 30, 2024, the group recorded an unaudited net loss of approximately RMB 5.51 million, compared to an unaudited net loss of approximately RMB 11.96 million for the same period in 2023[2]. - The unaudited total revenue for the six months ended June 30, 2024, was approximately RMB 8.66 million, representing an increase of about 169% compared to the unaudited total revenue of approximately RMB 5.13 million for the same period in 2023[2]. - The company reported a total loss of RMB 5.51 million for the operating profit for the six months ended June 30, 2024, compared to a loss of RMB 12.44 million for the same period in 2023[6]. - The total comprehensive income attributable to the parent company for the first half of 2024 was approximately RMB (5.57) million, compared to RMB (11.94) million in 2023, reflecting an improvement of about 53%[15]. - The company reported a total loss of RMB (5,507,270.13) for the first half of 2024, an improvement from a loss of RMB (11,964,427.63) in the same period of 2023[44]. Revenue and Expenses - Operating costs for the six months ended June 30, 2024, were RMB 14.47 million, a decrease from RMB 17.59 million for the same period in 2023[6]. - Research and development expenses for the six months ended June 30, 2024, were RMB 1.00 million, significantly reduced from RMB 3.25 million for the same period in 2023[6]. - The gross profit for the six months ended June 30, 2024, was approximately RMB 3.49 million, with a gross margin of 40%, up from 38% in the same period of 2023[49]. - The total operating expenses for the first half of 2024 amounted to ¥1,509,091.26, slightly lower than ¥1,525,249.06 in the same period of 2023, showing a decrease of approximately 1.1%[30]. - Management expenses for the first half of 2024 were ¥6,625,145.97, down from ¥9,396,176.20 in the first half of 2023, indicating a reduction of about 29.5%[32]. Assets and Liabilities - The total assets as of June 30, 2024, amounted to RMB 52.61 million, a decrease from RMB 58.56 million as of December 31, 2023[4]. - The total liabilities as of June 30, 2024, were RMB 89.12 million, slightly down from RMB 89.56 million as of December 31, 2023[4]. - The company's total comprehensive income for the period decreased by RMB 11,935,072.66, reflecting a significant decline in performance compared to the previous period[16]. - The total accounts payable as of June 30, 2024, was ¥6,672,946.50, a decrease from ¥6,983,288.79 as of December 31, 2023, reflecting a reduction of approximately 4.5%[25]. - The group’s asset-liability ratio was approximately 278.64% as of June 30, 2024, down from 397.15% in 2023[55]. Cash Flow - Total cash inflow from operating activities decreased to approximately RMB 7.71 million in 2024 from RMB 9.28 million in 2023, a decline of about 17%[10]. - Cash outflow from operating activities was approximately RMB 11.70 million in 2024, down from RMB 16.24 million in 2023, indicating a reduction of about 28%[10]. - The net cash flow from investment activities was approximately RMB 475,750 in 2024, compared to a net outflow of RMB 43,500 in 2023, marking a significant turnaround[12]. - Cash and cash equivalents at the end of June 30, 2024, totaled approximately RMB 1.19 million, down from RMB 1.35 million at the end of the same period in 2023, a decline of about 12%[13]. - The company’s cash and cash equivalents as of June 30, 2024, were RMB 1.43 million, down from RMB 1.99 million as of December 31, 2023[3]. Shareholder Information - Mr. Xiao Bing holds 485,832,335 domestic shares, representing approximately 38.81% of all issued domestic shares and 25.60% of all issued shares[65]. - Major shareholders include Ms. Jin Rongfei with 50,000,000 shares (3.99%) and Shaanxi Yinjit Investment Co., Ltd. with 20,000,000 shares (1.60%)[73]. - The company has seen a transfer of shares, with Mr. Xiao Bing transferring 57,000,000 shares to Mr. Chen Ren and 8,000,000 shares to Ms. Ma Xiuling in Q2 2023[78]. - The company is actively managing its shareholder structure, with multiple entities holding significant stakes, including Guotai Junan International and Guotai Junan Holdings[79]. - The company’s strategic focus includes maintaining a diverse shareholder base to enhance market stability and investor confidence[79]. Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules Appendix C1 for the six months ended June 30, 2024[85]. - The audit committee reviewed the unaudited consolidated results for the six months ended June 30, 2024, and confirmed compliance with applicable accounting standards and regulations[88]. - The company has not reported any changes in accounting policies or prior period error corrections during the current reporting period[18]. - The company has not reported any new product launches or technological advancements during this period[27]. - The company has not provided specific guidance for future performance or market expansion strategies[27].

Financial Performance - For the six months ended June 30, 2024, the group recorded an unaudited net loss of approximately RMB 5.51 million, compared to an unaudited net loss of approximately RMB 11.96 million for the same period in 2023[5]. - The unaudited total revenue for the six months ended June 30, 2024, was approximately RMB 8.66 million, representing an increase of about 169% compared to the unaudited total revenue of the same period in 2023[5]. - Total operating revenue for the period from January 1 to June 30, 2024, reached RMB 8,659,011.97, a significant increase from RMB 5,134,957.91 in the same period of 2023, representing a growth of approximately 68.5%[9]. - The net loss for the period was RMB (5,514,962.85), an improvement compared to a net loss of RMB (11,964,705.97) in the previous year, reflecting a reduction in losses by approximately 53.9%[9]. - The total comprehensive loss for the period was RMB (5,514,962.85), compared to RMB (11,964,705.97) in the same period last year, showing a significant reduction in overall losses[11]. - The company reported a basic and diluted earnings per share of RMB (0.00291) for the current period, compared to RMB (0.00629) in the previous year, reflecting ongoing challenges in profitability[11]. Assets and Liabilities - As of June 30, 2024, total current assets amounted to approximately RMB 22.37 million, a decrease from RMB 23.53 million as of December 31, 2023[6]. - Non-current assets totaled approximately RMB 30.23 million as of June 30, 2024, down from RMB 35.03 million as of December 31, 2023[7]. - Total liabilities as of June 30, 2024, were approximately RMB 89.12 million, slightly down from RMB 89.56 million as of December 31, 2023[8]. - The total equity attributable to shareholders of the parent company was approximately RMB (39.01) million as of June 30, 2024, compared to RMB (33.44) million as of December 31, 2023[8]. - The company’s total assets and liabilities are not detailed in the provided documents, indicating a need for further financial disclosures[16]. Cash Flow and Liquidity - Cash flow from operating activities showed a net outflow of RMB (3,992,620.50), compared to a larger outflow of RMB (6,959,319.09) in the same period last year, indicating improved cash management[12]. - Cash flow from investing activities generated a net inflow of RMB 475,750.00, contrasting with a net outflow of RMB (43,500.00) in the previous year, highlighting a positive shift in investment returns[13]. - Cash flow from financing activities resulted in a net inflow of RMB 2,954,584.50, down from RMB 6,401,543.86 in the same period last year, indicating a decrease in financing activities[13]. - The company’s cash and cash equivalents at the end of the period stood at RMB 1,185,265.79, down from RMB 1,351,565.66 at the end of June 2023, indicating a decrease in liquidity[13]. - The cash and cash equivalents balance as of June 30, 2024, was approximately RMB 1.19 billion, down from RMB 1.35 billion as of June 30, 2023[44]. Operational Highlights - The company has not disclosed any new product developments or market expansion strategies during this reporting period[5]. - The company reported a significant increase in accounts receivable, which rose to approximately RMB 9.91 million as of June 30, 2024, compared to RMB 7.79 million as of December 31, 2023[6]. - The company’s main business revenue for the first half of 2024 was RMB 8,410,120.47, an increase of 74.66% compared to RMB 4,821,663.65 in the same period of 2023[28]. - Sales from the medium lens antenna product amounted to approximately RMB 5.76 million, accounting for about 68% of the company's main business revenue in the first half of 2024[46]. - The company plans to focus on mobile communication business and has secured product orders in regions such as Southwest and Northeast China[52]. Research and Development - The company has made strategic investments in research and development, with R&D expenses amounting to RMB 1,001,302.61, down from RMB 3,248,273.09 in the previous year, suggesting a focus on cost management in innovation[9]. - Research and development expenses decreased from approximately RMB 3.25 million in 2023 to about RMB 1 million for the six months ended June 30, 2024[48]. Shareholder Information - Major shareholders include Ms. Chen Jing with 485,832,335 shares, representing approximately 38.81% of the total issued domestic shares and 25.60% of the total issued shares[63]. - The total number of shares held by major shareholders indicates a significant concentration of ownership, with the top five shareholders holding over 100 million shares each[63]. - The overall percentage of shares held by major shareholders suggests potential influence over corporate decisions and strategic direction[63]. Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules for the six months ending June 30, 2024[84]. - The audit committee reviewed the unaudited consolidated results for the six months ending June 30, 2024, ensuring compliance with applicable accounting standards[87]. - The company has maintained compliance with relevant laws and regulations in mainland China and Hong Kong[85].

Financial Performance - The company's antenna product sales decreased from approximately RMB 12.1 million in 2022 to about RMB 7.73 million in 2023, accounting for approximately 63% of the group's main business revenue [16]. - Gross profit for the year was approximately RMB 2.06 million, with a gross margin of about 16%, down from approximately 29% in 2022, primarily due to a decline in sales prices of communication products [18]. - The net loss for the year was approximately RMB 42.99 million, an increase of about 42% compared to the net loss of approximately RMB 30.27 million in 2022 [26]. - The total revenue for the year ended December 31, 2023, was approximately RMB 13.09 million, representing 64% of the revenue for the same period in 2022 [44]. - Revenue from the agricultural products segment decreased from approximately RMB 6.19 million last year to about RMB 4.55 million, accounting for 37% of the group's main business revenue [45]. - The group reported a net loss attributable to the owners of the parent company of approximately RMB 42.98 million after accounting for minority interests in the agricultural products segment [55]. - The group's net profit for the fiscal year 2023 was a loss of RMB 42,993,598.60, indicating continued losses [107]. - The net cash flow from operating activities was a negative RMB 6,683,081.18 [107]. - As of the end of 2023, current liabilities exceeded current assets by RMB 55,666,342.98 [107]. - The cash and cash equivalents balance was RMB 1,991,322.95, with overdue debts reported [107]. Expenses and Cost Management - Research and development expenses for the super-material lens antenna were approximately RMB 5.66 million, aimed at improving existing antenna products based on market and customer feedback [21]. - Management expenses decreased from approximately RMB 22.16 million in the previous year to about RMB 19.21 million, a reduction of approximately 13% [23]. - Sales expenses decreased from approximately RMB 5.73 million to about RMB 4.26 million due to reduced testing and technical service fees [20]. - The total employee costs decreased from approximately RMB 16.21 million last year to about RMB 11.88 million, primarily due to a reduction in staff following the relocation of a subsidiary [52]. - The total employee cost for the year was approximately RMB 11.88 million, a decrease from RMB 16.21 million in 2022 [65]. Strategic Focus and Future Plans - The company plans to focus on market promotion and sales of new high-gain, miniaturized super-material lens antenna products in 2024, which are expected to become a new profit growth point [29]. - The group plans to maintain its market share in mobile communications while enhancing customer demand through customized products and improving product cost-performance [58]. - The group aims to enhance its agricultural product business in 2024, promoting social responsibility through industry poverty alleviation [30]. - The group will explore applications of lens technology in various fields, including remote sensing, drone data transmission, and fire safety monitoring, to expand its customer base and create new revenue growth points [59]. Governance and Management - The board held 11 meetings during the fiscal year ending December 31, 2023, with all directors attending every meeting [89]. - The company has no CEO position as of the fiscal year ending December 31, 2023, with daily management handled by all executive directors [86]. - The remuneration committee reviewed executive director compensation and assessed their performance during the fiscal year ending December 31, 2023 [98]. - The audit committee is responsible for reviewing the company's accounting policies and financial reporting effectiveness [102]. - The company has established an effective risk management and internal control system in accordance with corporate governance principles [113]. - The board of directors is committed to providing a fair and understandable assessment of the group's current situation and prospects [106]. - The company has adopted a diversity policy for its board, which includes various measurable goals [100]. - The nomination committee established nomination policies and procedures for recommending board candidates during the fiscal year [101]. - All independent non-executive directors confirmed their independence according to GEM listing rules [93]. - The company secretary ensures compliance with all board procedures and applicable laws [90]. Stakeholder Engagement and Communication - The company has established multiple communication channels with stakeholders to address their concerns and improve relevant policies [160]. - The company has reviewed the implementation and effectiveness of its shareholder communication policy and deemed it effective [144]. - The board has conducted an annual review of the implementation and effectiveness of the shareholder communication policy [171]. - The company has a whistleblowing policy in place to provide a confidential reporting channel for employees and external parties regarding financial reporting and internal controls [173]. - The company is committed to maintaining effective communication with stakeholders, including customers, employees, and regulatory bodies [157]. Environmental, Social, and Governance (ESG) Initiatives - The group aims to invest more manpower and resources in sustainable development, focusing on resource efficiency and carbon reduction [183]. - The group has identified 16 critical ESG issues through stakeholder engagement and internal assessments during the reporting period [191]. - The group adheres to national environmental laws and regulations, ensuring compliance with standards such as ISO19001:2016 [194]. - The group emphasizes the importance of reducing electronic waste by ensuring the quality of purchased electronic products and proper disposal through certified companies [196]. - The group actively manages potential climate risks that may impact its business, with regular board meetings to assess and address these risks [200]. - The board is responsible for formulating the overall ESG strategy and implementing related management policies to achieve sustainability goals [179]. - The company emphasizes the importance of prudent management of environmental and social issues as key factors for long-term success [153]. - The company has adopted a zero-tolerance policy towards corruption, bribery, extortion, fraud, or money laundering in its business operations [148]. Innovation and Technology Development - The company has developed over 400 communication products related to Tianxian, widely used in mobile communication networks across various provinces and cities in China [152]. - The company holds more than 60 patents, indicating a strong focus on innovation and technology development [152]. - The company has been recognized as one of the first "innovative enterprises" in the country, reflecting its commitment to innovation and research [180]. - The company has established a comprehensive operating system that integrates product R&D, production, sales, installation, and service, emphasizing independent research and innovation [180]. Financial Position and Liabilities - As of December 31, 2023, the company's asset-liability ratio was approximately -46.59%, compared to 139.66% in 2022 [33]. - As of December 31, 2023, the group had short-term borrowings of approximately RMB 4.77 million, due within one year [71]. - The group has no significant asset pledges related to its business operations and liabilities, except for approximately RMB 240,000 in bank deposits classified as margin accounts and restricted accounts [36]. - The group has no significant capital expenditures contracted but not provided for in the financial statements as of December 31, 2023 [75]. - The group has no significant contingent liabilities as of December 31, 2023, except as disclosed in the financial statements [76]. - The group has no major foreign exchange contracts or financial activities, and the board considers foreign exchange risk to be minimal [63]. - The group received government subsidies, grants, and rewards totaling approximately RMB 100,000 for product development and business operations [53]. - The group did not utilize any net proceeds from capital raising activities during the year ended December 31, 2023 [37].

Financial Performance - Total revenue for 2023 was RMB 13,091,468.20, a decrease of 36.2% from RMB 20,530,084.65 in 2022[22] - Net loss for 2023 was RMB 42,993,598.60, compared to a net loss of RMB 30,272,901.46 in 2022, representing an increase in losses of 42.3%[23] - Operating profit for 2023 was RMB -42,733,097.12, worsening from RMB -33,091,493.77 in 2022[22] - Basic and diluted earnings per share for 2023 were both RMB -0.0226, compared to RMB -0.0159 in 2022[23] - The company reported a net profit of -42,993,598.60 RMB for the fiscal year 2023, indicating continued losses[52] - Total revenue for the current year reached CNY 13,091,468.20, a decrease of 36.1% compared to CNY 20,530,084.65 in the previous year[64] - The net loss for the year was approximately RMB 42.99 million, an increase of about 42% from the net loss of RMB 30.27 million in 2022[154] Assets and Liabilities - The total assets of the company as of December 31, 2023, amounted to RMB 58,564,833.84, a decrease of 36.5% from RMB 92,244,165.94 in 2022[5] - Current assets decreased to RMB 23,533,461.64, down 22.2% from RMB 30,236,087.30 in the previous year[5] - Total liabilities increased to RMB 89,563,141.07, up 11.6% from RMB 80,248,874.57 in 2022[6] - The company's total current liabilities remained relatively stable at RMB 79,199,804.62, a slight decrease of 0.2% from RMB 79,334,954.37 in the previous year[6] - As of the end of 2023, current liabilities exceeded current assets by 55,666,342.98 RMB, raising significant doubts about the company's ability to continue as a going concern[52] - The total liabilities at year-end were not disclosed but are expected to reflect the operational challenges faced during the year[99] Equity and Retained Earnings - The total equity attributable to shareholders of the parent company turned negative at RMB -33,440,011.69, compared to RMB 9,540,071.51 in 2022[7] - The company has a negative retained earnings of RMB -442,207,777.30, compared to RMB -399,227,694.10 in the previous year, indicating ongoing financial challenges[7] - The group’s asset-liability ratio was approximately -46.59%, a significant change from 139.66% in 2022, calculated based on interest-bearing borrowings and lease liabilities against total equity attributable to the parent company[189] Operational Costs and Expenses - Total operating costs for 2023 were RMB 41,019,887.74, down 17.9% from RMB 50,034,197.49 in 2022[22] - Research and development expenses for 2023 were RMB 839,494.70, slightly down from RMB 841,645.12 in 2022[22] - Sales expenses decreased to RMB 4,258,537.57 in 2023 from RMB 5,729,096.90 in 2022, a reduction of 25.7%[22] - Management expenses decreased to RMB 19,207,691.77 in 2023 from RMB 22,162,541.12 in 2022, a reduction of 13.8%[22] - The company reported a significant increase in employee compensation payable to RMB 12,587,886.15, up 43.5% from RMB 8,798,198.78 in 2022[6] - The total employee cost decreased from approximately RMB 16.21 million last year to about RMB 11.88 million this year, primarily due to the relocation of the subsidiary Suzhou Haitan and a reduction in staff[179] Revenue Segments - Total revenue from antenna product sales reached $7,725,160.79, while agricultural product sales generated $4,551,537.81, leading to a combined revenue of $12,276,698.60[100] - The antenna product sales segment revenue decreased from approximately RMB 12.1 million in 2022 to about RMB 7.73 million in 2023, accounting for approximately 63% of the company's main business revenue[116] - The agricultural product sales segment revenue fell from about RMB 6.19 million in the previous year to approximately RMB 4.55 million, representing around 37% of the main business revenue[117] Future Plans and Strategies - The company aims to improve operational efficiency and reduce costs in the upcoming fiscal year[22] - The company plans to achieve mass production of the newly developed WiFi lens antenna in 2024, following successful small-scale sales to router manufacturers[30] - The company aims to optimize asset and human resource allocation in 2024, which includes reducing unnecessary positions and controlling labor costs[31] - The company is focusing on expanding product sales and exploring applications of lens technology in other fields[29] - The company plans to explore applications of lens technology in various fields, including remote sensing and drone data transmission, to expand its customer base and create new revenue growth points[157] Financial Support and Debt Management - The company has implemented measures to communicate with banks to resolve overdue loans, ensuring sufficient operating funds for the next twelve months[33] - The company received financial support of 2,241,000.00 RMB from a major shareholder between January 1, 2024, and March 28, 2024[53] - A new repayment agreement was signed for overdue loans totaling 2,417,931.86 RMB, with structured repayments scheduled from August 28, 2023, to June 28, 2024[53] - The company intends to finance future development through bank loans, asset optimization, and potential new stock issuance or bond issuance[158] Legal and Regulatory Challenges - The company plans to appeal a court ruling regarding the execution of land and property rights, indicating ongoing legal challenges[108] - The company has acknowledged significant uncertainties regarding its ability to continue as a going concern due to consecutive years of losses and negative net assets[114]

Financial Performance - As of September 30, 2023, the company recorded an unaudited net loss of approximately RMB 16.59 million, compared to an unaudited net loss of approximately RMB 18.56 million for the same period in 2022[30]. - The unaudited total operating revenue for the nine months ended September 30, 2023, was approximately RMB 79.6 million, representing about 48% of the unaudited total operating revenue for the same period in 2022[30]. - The total operating income for the main business was RMB 7,000,507.34 for the nine months ended September 30, 2023, compared to RMB 14,773,593.03 for the same period in 2022[14]. - Total revenue for Q3 2023 was RMB 2,825,429.06, a decrease of 40.8% compared to RMB 4,771,282.84 in Q3 2022[43]. - The company reported a net loss attributable to the owners of the parent of RMB (16,564,464.90) for the nine months ended September 30, 2023, compared to a loss of RMB (18,383,986.19) in 2022[125]. - For the nine months ended September 30, 2023, the group recorded an unaudited total revenue of approximately RMB 7,000,507.34, a decrease of 48% compared to the same period in 2022[135]. Cash Flow and Financing - The total cash inflow from investment activities was RMB 722,796.33, while the total cash outflow from investment activities was RMB 1,894,912.86[1]. - The company received cash from financing activities amounting to RMB 17,643,736.01, compared to RMB 7,974,458.78 in the previous year[5]. - The company reported a net cash flow from financing activities of 7,471,837.18 for the period ending September 30, 2023, compared to 3,395,784.67 for the same period in 2022, indicating a significant increase[68]. - The net cash flow from operating activities for the first nine months of 2023 was negative at RMB (7,556,622.06), compared to RMB (4,221,619.88) in 2022[49]. - The company reported a total cash inflow from operating activities of RMB 14,403,009.89 for the first nine months of 2023, which includes RMB 750,962.63 from other operating activities[49]. Expenses and Costs - Research and development expenses totaled RMB 15,979.08 for the three months ended September 30, 2023[25]. - Total operating costs for Q3 2023 were RMB 7,536,156.28, down 38.3% from RMB 12,187,753.23 in Q3 2022[43]. - The total employee compensation for the period from January 1 to September 30, 2023, was 4,218,990.64, down from 5,023,653.55 in the same period of 2022[62]. - Management expenses decreased from approximately RMB 14.01 million in the same period of 2022 to approximately RMB 12.99 million for the nine months ended September 30, 2023, reflecting a reduction of about 7.2%[149]. - Financial expenses decreased from approximately RMB 630,000 in the same period of 2022 to approximately RMB 300,000 for the nine months ended September 30, 2023, a reduction of about 52.4%[149]. Assets and Liabilities - The total current liabilities amounted to RMB 86,338,516.87, an increase from RMB 79,334,954.37 in the previous year[33]. - Total liabilities increased from RMB 80,248,874.57 as of December 31, 2022, to RMB 86,800,612.03 as of September 30, 2023, representing an increase of approximately 8.5%[46]. - Total assets decreased from RMB 92,244,165.94 as of December 31, 2022, to RMB 82,204,543.14 as of September 30, 2023, indicating a reduction of about 10.9%[45]. - Non-current assets decreased from RMB 62,008,078.64 as of December 31, 2022, to RMB 52,816,038.04 as of September 30, 2023, representing a decline of approximately 15.3%[45]. Shareholder Information - The company reported a total of 10,000,000 H shares held by Mr. Xiao Bing, representing approximately 1.55% of all issued H shares[91]. - Mr. Chen Ji holds 11,718,000 H shares, accounting for approximately 1.81% of all issued H shares[91]. - Guotai Junan Holdings controls 23,500,000 H shares, which is about 3.64% of all issued H shares[96]. - The company has a total of 328,363,637 domestic shares held by Tianan Enterprises, with Mr. Xiao Bing and his spouse holding 60% and 40% respectively[114]. - Ms. Chen Jing holds 485,832,335 shares, accounting for 38.81% of the total issued domestic shares and 25.60% of the total issued shares[169]. Operational Developments - The company temporarily suspended live chicken farming operations due to rising feed procurement prices and increased labor costs, leading to a decrease in revenue from agricultural products[135]. - The company has not reported any new product launches or technological advancements during this period[76]. - The company has not identified any significant events post-September 30, 2023, that would materially impact its operations and financial performance[106]. Miscellaneous - The company did not recommend the distribution of dividends for the nine months ended September 30, 2023[30]. - The audit committee reviewed the unaudited consolidated results for the nine months ended September 30, 2023, ensuring compliance with applicable accounting standards[98]. - The report will be available on the GEM website for at least 7 days from the publication date[175]. - The company expresses gratitude to customers, subcontractors, business partners, and shareholders for their continued support[166].

Financial Performance - The company reported a total comprehensive loss of RMB 16.56 million for the period from January 1 to September 30, 2023[5]. - Total revenue for the first nine months of 2023 reached RMB 7,960,386.97, down 52.1% from RMB 16,645,448.12 in the first nine months of 2022[8]. - The company recorded an unaudited net loss of approximately RMB 16.59 million for the nine months ended September 30, 2023, compared to an unaudited net loss of approximately RMB 18.56 million for the same period in 2022[179]. - The company’s total profit (loss) for the nine months ended September 30, 2023, was a loss of RMB 16.59 million, compared to a loss of RMB 18.55 million for the same period in 2022[179]. - The company reported a net profit attributable to the owners of the parent company for the nine months ended September 30, 2023, of RMB 16,564,464.90, compared to RMB 18,383,986.19 for the same period in 2022, reflecting a decrease of approximately 9.9%[167]. Revenue and Sales - Main business revenue for the period from July 1 to September 30, 2023, was RMB 2,178,843.69, a decrease of 51.1% compared to RMB 4,460,807.73 in the same period of 2022[8]. - The main business revenue from antenna products sales and related services decreased from approximately RMB 105.5 million in 2022 to about RMB 45.8 million in 2023, accounting for approximately 65% of the total main business revenue[75]. - The sales revenue from agricultural products decreased from approximately RMB 42.3 million in 2022 to about RMB 24.2 million in 2023, accounting for approximately 35% of the group's main business revenue[68]. Assets and Liabilities - As of September 30, 2023, total assets amounted to approximately RMB 82.20 million, a decrease of 10.9% from RMB 92.24 million as of December 31, 2022[2]. - Total liabilities reached RMB 86.80 million, an increase of 8.5% compared to RMB 80.25 million at the end of 2022[3]. - The company's equity attributable to shareholders decreased to RMB (4.60) million, compared to RMB 11.99 million at the end of 2022[3]. Operating Costs and Expenses - Operating costs for the period from July 1 to September 30, 2023, were RMB 1,778,938.36, compared to RMB 3,383,366.69 in the same period of 2022, reflecting a decrease of 47.5%[8]. - The company incurred a total of RMB 4,952,801.54 in costs for the first nine months of 2023, down 56.2% from RMB 11,327,673.49 in the first nine months of 2022[8]. - The total operating expenses for the period from July 1 to September 30, 2023, were RMB 3,593,595.14, compared to RMB 4,685,063.66 for the same period in 2022, reflecting a decrease of approximately 23.3%[33]. Cash Flow - Cash inflow from operating activities was RMB 14.40 million for the nine months ended September 30, 2023, compared to RMB 25.33 million for the same period in 2022[183]. - Cash outflow from operating activities totaled RMB 21.96 million for the nine months ended September 30, 2023, compared to RMB 29.56 million for the same period in 2022[183]. - The net cash flow from operating activities was a loss of RMB 7.56 million for the nine months ended September 30, 2023, compared to a loss of RMB 4.22 million for the same period in 2022[183]. Shareholder Information - As of September 30, 2023, Mr. Xiao Bing holds 485,832,335 shares, representing approximately 38.81% of the total issued domestic shares[89]. - Mr. Chen Ji holds 272,844,804 shares, accounting for approximately 21.80% of the total issued domestic shares[89]. - High Xiang Investment holds 254,844,804 domestic shares, representing approximately 20.36% of the total issued shares[121]. - The company has a significant shareholder structure, with Xiao's Tianxian holding 157,468,698 domestic shares, accounting for about 12.58%[121]. Research and Development - Research and development expenses for the period from July 1 to September 30, 2023, totaled RMB 1,253,694.39, down from RMB 1,725,324.84 in the same period of 2022, indicating a reduction of about 27.3%[35]. - Research and development expenses amounted to RMB 4.50 million for the nine months ended September 30, 2023, down from RMB 4.92 million in the same period of 2022[179]. Strategic Initiatives - The company is focusing on expanding its market presence and developing new products and technologies to enhance future growth prospects[9]. - The company plans to continue its strategic initiatives, including potential mergers and acquisitions, to strengthen its competitive position in the market[9]. - The company aims to improve operational efficiency and reduce costs in response to the current market challenges[9]. Compliance and Governance - The company has complied with the corporate governance code as stipulated in the GEM Listing Rules during the nine months ended September 30, 2023[155]. - The audit committee reviewed the unaudited consolidated results for the nine months ended September 30, 2023, and confirmed compliance with applicable accounting standards and regulations[163].

Financial Performance - The company's total revenue for the first half of 2023 reached 5,134,957.91, a decrease from 11,874,165.28 in the same period of 2022, representing a decline of approximately 56.8%[11] - The company reported a total of 960,461.24 in revenue for the second quarter of 2023, down from 4,781,680.46 in the same quarter of 2022, marking a decline of around 79.9%[11] - The total revenue for the six months ended June 30, 2023, was approximately RMB 5.13 million, representing a 43% increase compared to the same period in 2022[27] - Total revenue for the period from January 1 to June 30, 2023, was RMB 960,461.24, compared to RMB 4,781,680.46 for the same period in 2022, indicating a significant decline[141] - The total revenue from the main business amounted to RMB 771,110.61 for the first half of 2023, compared to RMB 4,821,663.65 for the same period in 2022, indicating a significant decline[197] Operating Costs and Expenses - The operating costs for the first half of 2023 were 3,173,863.18, compared to 7,944,306.80 in the first half of 2022, indicating a reduction of about 60.1%[11] - The overall gross profit margin for the first half of 2023 was approximately 38.2%, down from 33.5% in the same period of 2022, indicating a slight improvement in profitability despite lower revenues[11] - The total operating costs for the first half of 2023 amounted to RMB 8,176,834.80, down from RMB 10,623,537.28 in the same period of 2022[141] - The total expenses for employee compensation in the first half of 2023 were $3,463,824.94, slightly up from $3,453,237.76 in the same period of 2022[169] Net Loss and Profitability - The total profit (loss) for the six months ended June 30, 2023, was RMB (11,964,427.63), compared to RMB (11,400,811.55) for the same period in 2022[40] - For the six months ended June 30, 2023, the group recorded an unaudited net loss of approximately RMB 11.96 million, compared to a net loss of approximately RMB 11.41 million for the same period in 2022[48] - The net loss for the first half of 2023 was RMB 6,738,338.80, compared to a net loss of RMB 5,473,846.15 in the first half of 2022, reflecting a worsening financial position[141] - The company reported a total comprehensive loss of RMB 6,738,338.80 for the first half of 2023, compared to RMB 5,473,846.15 in the same period of 2022[141] Research and Development - Research and development expenses totaled 1,560,721.94 for the second quarter of 2023, slightly increasing from 1,549,057.23 in the same quarter of 2022, reflecting a growth of approximately 0.1%[15] - Research and development expenses for the first half of 2023 were RMB 1,560,721.94, slightly up from RMB 1,549,057.23 in the same period of 2022, indicating continued investment in innovation[141] Cash Flow and Liquidity - Cash inflows from operating activities for the six months ended June 30, 2023, were RMB 9.28 million, down from RMB 14.44 million for the same period in 2022[118] - Cash outflows from operating activities totaled RMB 16.24 million for the six months ended June 30, 2023, compared to RMB 17.27 million for the same period in 2022[118] - The company reported a cash and cash equivalents balance of RMB 1,351,565.66 as of June 30, 2023, down from RMB 3,657,598.70 at the end of 2022[199] - Cash and cash equivalents at the end of the period stood at RMB 1,351,565.66, down from RMB 3,657,598.70 at the end of 2022, indicating liquidity challenges[155] Assets and Liabilities - The total liabilities, including accounts payable, were reported at 189,762,900.00, remaining stable compared to the previous period[10] - The total assets amounted to RMB 85.04 million as of June 30, 2023, down from RMB 92.24 million as of December 31, 2022[114] - Current liabilities totaled RMB 84.32 million as of June 30, 2023, compared to RMB 79.33 million as of December 31, 2022[107] - The total liabilities increased from RMB 80,248,874.57 to RMB 85,010,480.56, representing a rise of approximately 6.5%[195] Future Outlook and Strategy - Future outlook indicates a focus on market expansion and potential mergers and acquisitions to enhance growth opportunities[2] - The company plans to invest in new product development and technological advancements to improve competitive positioning in the market[2] - The group continues to focus on market expansion and the development of new products and technologies[50] Shareholder Information - The basic and diluted earnings per share for the first half of 2023 were both RMB (0.00356), compared to RMB (0.00284) in the same period of 2022, indicating a decline in shareholder value[141] - The company holds 328,363,637 domestic shares, with Mr. Xiao Bing and his spouse holding 60% and 40% of the equity, respectively[86] - The company has a total of 254,844,804 domestic shares held by Gao Xiang Investment, equally owned by Mr. Chen Ji and his spouse[88] Miscellaneous - The company did not acquire any significant intangible assets during the reporting period, consistent with the previous year[4] - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2023[42] - The company has not engaged in any significant acquisitions or disposals during the reporting period[70] - The company has suspended live chicken farming operations since Q3 2022 due to rising feed and labor costs, impacting overall revenue from agricultural products[200]