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]

西安海天天綫科技股份有限公司 XI’AN HAITIAN ANTENNA TECHNOLOGIES CO., LTD.* （於中華人民共和國註冊成立之股份有限公司） 8227 （股份代號： ） 2023 6 30 截至 年 月 日止六個月之 中期業績公告 GEM GEM 香港聯合交易所有限公司（「聯交所」） （「 」）的特色 GEM 之定位，乃為中小型公司提供一個上市之市場，此等公司相比起其他在聯交所上市之公 司帶有較高投資風險。有意投資之人士應了解投資於該等公司之潛在風險，並應經過審慎周 詳之考慮後方作出投資決定。 GEM GEM 由於 上市公司普遍為中小型公司，在 買賣之證券可能會較於聯交所主板買賣之證 GEM 券承受較大之市場波動風險，同時無法保證在 買賣之證券會有高流通量之市場。 香港交易及結算所有限公司及聯交所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分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。 GEM GEM 本公告之資料乃遵照 證券上市規則（「 上市規則」）而刊載，旨在提供有關西安海天天 綫科技股份有限公司（「本公司」）之資 ...

Financial Performance - For the three months ended March 31, 2023, the company recorded an unaudited net loss of approximately RMB 5.23 million, compared to an unaudited net loss of approximately RMB 5.94 million for the same period in 2022[4]. - The unaudited total revenue for the three months ended March 31, 2023, was approximately RMB 4.17 million, representing about 59% of the unaudited total revenue for the same period in 2022[4]. - The company's operating revenue for the first quarter of 2023 was approximately RMB 4,174,496.67, a decrease of 41.5% compared to RMB 7,092,484.82 in the same period of 2022[33]. - The company recorded a net loss of RMB 5,226,367.17 for the first quarter of 2023, compared to a net loss of RMB 5,936,732.53 in the same period of 2022[33]. - The company reported a net profit attributable to the owners of the parent company of RMB 5,185,226.15 for the three months ended March 31, 2023, compared to RMB 5,878,713.84 for the same period in 2022, reflecting a decrease of approximately 11.8%[110]. - Total revenue for the three months ended March 31, 2023, was approximately RMB 4,050,553.04, a decrease of about 40.0% compared to RMB 6,748,325.11 in the same period of 2022[115]. Assets and Liabilities - Total current assets as of March 31, 2023, amounted to RMB 33,662,770.42, compared to RMB 30,236,087.30 as of December 31, 2022[9]. - The total liabilities as of March 31, 2023, were RMB 86,403,451.81, an increase from RMB 80,248,874.57 as of December 31, 2022[14]. - The total assets as of March 31, 2023, were RMB 93,172,376.01, compared to RMB 92,244,165.94 as of December 31, 2022[14]. - The company's total equity attributable to shareholders as of March 31, 2023, was RMB 4,354,845.36, down from RMB 9,540,071.51 as of December 31, 2022[14]. Cash Flow - The net cash flow from operating activities for the first quarter of 2023 was a negative RMB 2,462,571.33, compared to a negative RMB 1,399,282.24 in the first quarter of 2022[41]. - Cash inflow from operating activities totaled RMB 5,803,117.48, a decrease of 43.6% compared to RMB 10,211,159.80 in the previous year[51]. - Cash received from financing activities amounted to RMB 3,166,700.00, down from RMB 14,200,000.00, representing a decline of 77.7% year-over-year[54]. - The net cash flow from financing activities was RMB 2,684,293.83, compared to RMB 10,769,260.70 in the same period last year, indicating a decrease of 75.1%[56]. - Cash and cash equivalents at the end of the first quarter of 2023 were RMB 2,167,689.57, down from RMB 3,580,646.08 at the end of the first quarter of 2022[42]. Expenses - Sales expenses decreased from approximately RMB 1,794,982.43 in the first quarter of 2022 to RMB 718,132.13 in the first quarter of 2023, representing a reduction of about 60%[21]. - Research and development expenses increased slightly from RMB 1,645,277.06 in the first quarter of 2022 to RMB 1,687,551.15 in the first quarter of 2023, reflecting a growth of about 2.6%[33]. - The total tax and additional charges for Q1 2023 amounted to RMB 7,002.77, a significant drop from RMB 35,975.97 in Q1 2022, indicating a decline of approximately 80.5%[71]. - The company incurred a total of 93,008.66 million in financial expenses in Q1 2023, significantly lower than 195,987.79 million in Q1 2022, reflecting a decrease of about 52.66%[100]. Shareholder Information - As of March 31, 2023, Mr. Xiao Bing holds 550,832,335 shares, representing approximately 44.00% of the total issued domestic shares[161]. - Mr. Chen Ji holds 273,344,804 shares, accounting for approximately 21.84% of the total issued domestic shares[161]. - The company has a significant shareholder structure with major interests held by Mr. Xiao Bing and Mr. Chen Ji[177]. - The company is focused on maintaining transparency in its shareholder interests and potential conflicts of interest[172]. Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[173]. - The audit committee reviewed the unaudited consolidated results for the three months ending March 31, 2023, ensuring compliance with applicable accounting standards[194]. - The company has adopted a code of conduct for securities trading in accordance with GEM listing rules[193]. Future Plans and Strategies - The company is focused on expanding its market presence and enhancing its product offerings, particularly in mobile communication and data communication sectors[70]. - Future plans include exploring applications of metamaterial technology in various fields such as mobile communication, smart cities, remote sensing technology, automotive radar, drone data transmission, and the Internet of Things[147]. - The group aims to enhance its core competitiveness by continuously enriching and improving its series of metamaterial products[147]. - The group is actively participating in bidding procurement projects for lens communication products, with successful bids in Southwest, Northwest, South China, and North China regions[157].

Financial Performance - For the three months ended March 31, 2023, the company recorded an unaudited net loss of approximately RMB 5.23 million, compared to a net loss of approximately RMB 5.94 million for the same period in 2022, representing a decrease in loss of about 11.9%[3] - The unaudited total revenue for the three months ended March 31, 2023, was approximately RMB 4.17 million, which is about 59% of the unaudited total revenue of approximately RMB 7.09 million for the same period in 2022[3] - The company's total revenue for the period from January 1 to March 31, 2023, was RMB 4.17 million, down from RMB 7.09 million for the same period in 2022, representing a decline of approximately 41.0%[7] - The total operating costs for the same period were RMB 9.41 million, a decrease from RMB 13.06 million in 2022, reflecting a reduction of about 28.0%[7] - The company reported a comprehensive loss of RMB (5,185,226.15) for Q1 2023, compared to a loss of RMB (1,399,282.24) in Q1 2022[27] - The company recorded a net loss of RMB 5,185,226.15 for the first quarter of 2023, compared to a net loss of RMB 5,878,713.84 in Q1 2022[84] Assets and Liabilities - As of March 31, 2023, the company's current assets totaled approximately RMB 33.66 million, an increase from RMB 30.24 million as of December 31, 2022, reflecting a growth of about 11.5%[4] - The company's total liabilities as of March 31, 2023, amounted to approximately RMB 93.17 million, compared to RMB 92.24 million as of December 31, 2022, indicating a slight increase of about 1.0%[6] - The company reported a total equity of approximately RMB 6.77 million as of March 31, 2023, down from RMB 11.99 million as of December 31, 2022, representing a decrease of about 43.5%[6] - The total liabilities increased to RMB 86,403,451.81 in Q1 2023, compared to RMB 80,248,874.57 in Q1 2022, reflecting a growth of 7.4%[36] - The total equity attributable to shareholders decreased to RMB 6,768,924.20 as of March 31, 2023, from RMB 11,995,291.37 at the end of Q1 2022[27] Cash Flow - The total cash inflow from operating activities for the first quarter of 2023 was RMB 5,803,117.48, a decrease of 43.5% compared to RMB 10,211,159.80 in the same period of 2022[17] - The net cash flow from operating activities for Q1 2023 was negative at RMB (2,462,571.33), worsening from RMB (1,399,282.24) in Q1 2022[17] - Cash received from financing activities totaled RMB 3,166,700.00 in Q1 2023, down 77.7% from RMB 14,200,000.00 in Q1 2022[21] - The net cash flow from financing activities for Q1 2023 was RMB 2,684,293.83, a decrease of 75.1% compared to RMB 10,769,260.70 in Q1 2022[24] - The net increase in cash and cash equivalents for Q1 2023 was RMB 217,002.14, significantly lower than RMB 1,515,448.58 in Q1 2022[25] - The ending balance of cash and cash equivalents as of March 31, 2023, was RMB 2,167,689.57, down from RMB 3,580,646.08 at the end of Q1 2022[26] Expenses - Research and development expenses for the three months ended March 31, 2023, were RMB 1.69 million, slightly up from RMB 1.65 million in the same period of 2022, indicating an increase of about 1.7%[7] - The company incurred total selling expenses of RMB 718,132.13 in the first quarter of 2023, a decrease from RMB 1,794,982.43 in the same period of 2022[56] - Depreciation expenses for the first quarter of 2023 were RMB 46,790.72, down from RMB 69,152.04 in the previous year[57] - Employee compensation for the first quarter of 2023 was RMB 1,563,905.57, compared to RMB 1,697,804.15 in the same period of 2022[57] Shareholder Information - Major shareholders include Ms. Chen Jing and Professor Xiao Liangyong, each holding approximately 44.00% of the domestic shares, translating to 550,832,335 shares[137] - Tianan Enterprises holds 328,363,637 domestic shares, representing 26.23% of the total issued domestic shares[137] - The company has a significant concentration of ownership, with the top five shareholders controlling over 50% of the total issued shares[137] - The total number of H shares held by major shareholders is 85,100,000, representing approximately 13.18% of all issued H shares[150] Future Plans and Strategies - The company plans to focus on market expansion and new product development in the upcoming quarters[55] - The company plans to focus on the mobile communication products and related services segment for future development[128] - Future plans include exploring applications of metamaterial technology in various fields such as mobile communications and smart cities[98] - The company aims to leverage its super-material communication products to support smart city construction projects, enhancing network efficiency and reducing costs[124] - The company will consider further financing through bank loans, share issuance, and bond issuance to ensure smooth operations and development[128] Governance and Compliance - The audit committee has reviewed the unaudited consolidated results for the three months ending March 31, 2023, ensuring compliance with applicable accounting standards[168] - The company has adhered to the corporate governance code as per GEM Listing Rules during the three months ending March 31, 2023[165]

Financial Performance - The net profit for the year 2022 was -30,272,901.46 RMB, indicating a continued loss[29]. - The net cash flow from operating activities for 2022 was -9,688,684.86 RMB[29]. - Current liabilities exceeded current assets by 49,098,867.07 RMB at the end of 2022[29]. - The cash balance at the end of 2022 was 2,189,300.39 RMB, with overdue debts reported[29]. - The company's net loss for the year was approximately RMB 30.27 million, an increase of about 34% compared to a net loss of approximately RMB 22.67 million in 2021[127]. - The group's cash and cash equivalents decreased from approximately RMB 4.19 million to RMB 1.95 million as of December 31, 2022[86]. - The asset-liability ratio as of December 31, 2022, was approximately 139.66%, compared to 81.87% in 2021[132]. Asset Management - The company reported a loss of joint control or significant influence over certain equity investments due to disposals, with the remaining equity recognized at fair value on the date of loss[2]. - The company assesses impairment of assets when there is evidence of significant declines in market value or performance below expectations[14]. - Deferred tax assets are recognized based on the future taxable income that can offset deductible temporary differences and losses[28]. - The company’s fixed assets include buildings, machinery, transportation equipment, and office equipment, which are recognized when economic benefits are likely to flow[4]. - Construction in progress is transferred to fixed assets upon reaching the intended usable state, with depreciation starting the following month[5]. Revenue Recognition - The company recognizes revenue when control of goods or services is transferred to customers, following the completion of performance obligations[22]. - The company recognizes contract assets for rights to receive consideration for transferred goods or services[38]. Employee Benefits and Costs - The company’s short-term employee benefits include wages, bonuses, and social insurance contributions, recognized as liabilities during the accounting period[17]. - Total employee costs increased from approximately RMB 15 million last year to about RMB 16.21 million this year due to the need for additional R&D personnel for the medium lens Tianxian[126]. Research and Development - Research and development expenses for the medium lens Tianxian amounted to approximately RMB 6.58 million, primarily used for further improving and advancing existing Tianxian products based on market and customer feedback[125]. - The company has developed new high-gain multi-beam lens antennas and new medium lens antennas suitable for high-rise buildings, which are lightweight and cost-effective, addressing coverage issues in urban environments[74]. - The company is focusing on developing more types of new artificial medium lens antenna products to leverage the wide applicability of lens materials across various fields[76]. - The company has developed over 400 communication products related to its core technology, with more than 60 patents held[175]. Market Performance - Sales to the top five customers accounted for approximately 75.59% of the group's main business revenue in the year ended December 31, 2022, up from 54.52% in 2021[85]. - The sales of the Tianxian product segment decreased from approximately RMB 21.73 million in 2021 to about RMB 12.10 million in the current year, representing about 66% of the group's main business revenue[93]. - The group aims to actively fulfill orders signed in 2022 that have not yet been executed, with multiple provincial operators starting new tenders as market demand recovers post-pandemic[83]. - The group has successfully won multiple tender projects from provincial operators in 2023, indicating a positive market response[83]. Corporate Governance - The board is committed to maintaining high levels of transparency and will continue to review corporate governance practices regularly[153]. - The company has established effective risk management and internal control systems, which will be continuously reviewed[169]. - The company has complied with the revised GEM Listing Rules regarding board diversity, maintaining a board composition of one female director and eight male directors as of December 31, 2022[112]. - The remuneration committee held one meeting in 2022, with all members in attendance[114]. - The nomination committee also held one meeting in 2022, focusing on selecting candidates with relevant skills and experience for the company's business[145]. Sustainability and ESG Practices - The company is committed to sustainable development, focusing on resource efficiency and carbon reduction efforts[179]. - The company emphasizes the importance of ESG practices, with the board responsible for ensuring effective management of these issues[176]. - The company plans to invest more human and financial resources into sustainable development initiatives in the future[179]. - The company strictly adheres to national environmental laws and regulations, including the Air Pollution Control Regulations and the Environmental Protection Law of the People's Republic of China[191]. - The company has implemented measures to reduce electronic waste, including purchasing high-quality electronic products to extend their lifespan and ensuring proper disposal through certified recycling companies[193]. - The company recognizes the risks posed by climate change to its business and is actively analyzing potential impacts[198]. - The company aims to integrate environmental protection into employees' daily lives through training and outdoor activities[196]. - The company is aligned with national climate goals, including peak carbon emissions by 2030 and carbon neutrality by 2060[197]. Future Plans - The company plans to implement measures to improve its financial situation, although significant uncertainties regarding its ability to continue as a going concern remain[29]. - The company plans to continue developing agricultural products-related businesses in 2023 to enhance performance through industrial poverty alleviation[130]. - The group plans to leverage its recognized advantages in the lens technology for mobile communication to expand market development in 2023[98]. - The company is actively pursuing opportunities in the telecommunications network operator bidding process to secure more business collaborations[76].

Financial Performance - The net profit for the year 2022 was -30,272,901.46 CNY, indicating a continued loss [13] - The net cash flow from operating activities was -9,688,684.86 CNY for the year 2022 [13] Financial Position - Current liabilities exceeded total current assets by 49,098,867.07 CNY at the end of 2022 [13] - The cash balance at the end of 2022 was 2,189,300.39 CNY, with overdue debts reported [13] Future Outlook - The company disclosed plans to take measures to improve its financial situation, but significant uncertainties regarding its ability to continue as a going concern remain [13]

Financial Performance - Total operating revenue for 2022 was RMB 20,530,084.65, a decrease of 47.5% compared to RMB 39,067,769.85 in 2021[15]. - The company reported a net loss attributable to shareholders of (399,227,694.10) in 2022, compared to (369,103,101.74) in 2021, indicating a worsening of approximately 8.2%[14]. - Net loss for 2022 was RMB 30,272,901.46, compared to a net loss of RMB 22,673,358.63 in 2021, representing an increase in loss of 33.3%[15]. - The total profit for 2022 was RMB -30,282,117.92, compared to RMB -22,659,288.66 in 2021, indicating a significant increase in losses[15]. - The company's net profit for the year 2022 was -30,272,901.46 RMB, indicating a continued loss[38]. - Total revenue for the year was approximately RMB 18,292 million, a decrease from RMB 21,730 million in the previous year, primarily due to delays in project construction caused by the COVID-19 pandemic[109]. - The main business revenue was CNY 18,292,389.57, down from CNY 37,982,656.33 year-on-year, indicating a decrease of about 51.9%[61]. - The total loss from non-operating income was RMB 32,144,370, which includes a loss of RMB 8,464,640 from inventory write-downs and RMB 23,179,730 from other expenses[120]. Assets and Liabilities - Total current assets as of December 31, 2022, amounted to 12,189,300.39, a decrease from 18,391,443.64 in 2021, representing a decline of approximately 33.5%[3]. - Total non-current assets decreased from 77,234,991.88 in 2021 to 62,008,078.64 in 2022, reflecting a reduction of about 19.7%[4]. - The company’s total assets decreased from 117,517,885.18 in 2021 to 92,244,165.94 in 2022, a decline of approximately 21.5%[14]. - Total liabilities decreased from 95,249,692.35 in 2021 to 80,248,874.57 in 2022, indicating a decline of approximately 15.8%[5]. - Current liabilities exceeded current assets by 49,098,867.07 RMB, raising significant doubts about the company's ability to continue as a going concern[21]. - The asset-liability ratio as of December 31, 2022, was approximately 139.66%, compared to 81.87% in 2021[152]. Expenses - Total operating costs for 2022 were RMB 50,034,197.49, down 18.1% from RMB 61,069,531.80 in 2021[15]. - The company reported a significant increase in employee compensation liabilities, rising from 4,980,111.91 in 2021 to 8,798,198.78 in 2022, an increase of approximately 76.5%[5]. - Financial expenses for 2022 were RMB 841,645.12, significantly higher than RMB 161,083.20 in 2021, indicating a rise in interest expenses[15]. - The company's management expenses for 2022 were RMB 22,162,541.12, slightly down from RMB 22,840,545.65 in 2021[15]. - Selling expenses increased from approximately RMB 5.21 million to about RMB 5.73 million, attributed to procurement activities for new lens products[114]. - The group’s management expenses decreased by approximately 3%, from about RMB 22.84 million last year to approximately RMB 22.16 million this year[140]. Research and Development - Research and development expenses for 2022 were RMB 6,578,248.03, an increase of 7.1% from RMB 6,145,716.23 in 2021[15]. - Research and development expenses for the medium lens product line were approximately RMB 6.58 million, primarily aimed at improving existing products based on market and customer feedback[138]. - The company emphasized research and development expenses as a focus area, with the aim to develop more types of new artificial medium lens products[109]. Cash Flow and Financing - The net cash flow from operating activities was -9,688,684.86 RMB, highlighting cash flow challenges[38]. - The company has signed a repayment agreement for a loan of CNY 3,100,000.00, with structured repayments scheduled until December 15, 2023[47]. - The group plans to finance its future development through bank loans, asset optimization, and potential new stock issuance or bond issuance[180]. Shareholder Actions - Shareholders have waived debts totaling 20,000,000.00 RMB, with 10,000,000.00 RMB waived by each of two shareholders[24]. - Shareholders have committed to not recalling debts amounting to CNY 17,113,774.32 before December 31, 2023[46]. Business Strategy and Operations - The company plans to expand its product sales business as part of its growth strategy[44]. - The company is actively pursuing new business collaborations and maintaining follow-ups on bidding projects with telecommunications operators[109]. - The group plans to actively complete orders signed in 2022 that have not yet been executed, with multiple successful bids for provincial operators' projects in 2023[177]. - The group will continue 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[179]. - The group anticipates that the recovery of market demand will support its efforts in expanding the mobile communication sector, leveraging the recognized advantages of its lens technology products[176]. Impairment and Quality Issues - The company reported a credit impairment loss of RMB -3,819,137.47 in 2022, compared to RMB -670,398.72 in 2021, reflecting a deterioration in asset quality[15]. - The company recognized an impairment loss of RMB 9,309,639.56 related to prepayments for land and buildings, with an additional impairment of RMB 3,805,864.72 for the current period[130]. - The company recorded a significant increase in intermediary fees from RMB 1.71 million to RMB 2.92 million, indicating higher costs associated with business operations[85]. - The company has a total of CNY 13,199,890.71 in accounts receivable, with a significant portion classified as bad debt[55].