森浩集团(08285)发布截至2025年6月30日止6个月业绩，该集团期内取得收益3222.2万元人民币，同比减 少11.1%;期内溢利6.9万元，同比扭亏为盈;每股基本溢利0.01分。 ...

（原标题：森浩集团(08285)发布中期业绩 期内溢利6.9万元 同比扭亏为盈） 智通财经APP讯，森浩集团(08285)发布截至2025年6月30日止6个月业绩，该集团期内取得收益3222.2万 元人民币，同比减少11.1%;期内溢利6.9万元，同比扭亏为盈;每股基本溢利0.01分。 ...

Sling Group Holdings Limited 森浩集團股份有限公 司 （於開曼群島註冊成立之有限公司） （股份代號：8285） 截至2025年6月30日止六個月 中期業績公佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位乃為相比起聯交所主板上市的其他公司帶有更高投資風險的中小型公司提供 上市的市場。有意投資者應了解投資於此類公司的潛在風險，並應經審慎周詳考慮後方 作出投資決定。 由於在GEM上市的公司一般為中小型公司，在GEM買賣的證券可能會承受較於聯交所 主板買賣的證券為高的市場波動風險，同時亦無法保證在GEM買賣的證券會有高流通量 的市場。 香港交易及結算所有限公司及聯交所對本公佈的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示概不會對本公佈的全部或任何部分內容所產生或因依賴該 等內容而引致的任何損失承擔任何責任。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定提供有關森浩集團股 份有限公司（「本公司」）的資料。本公司董事（「董事」）願對此共同及個別承擔全部責任。 董事在作出一切合理查詢後確認，就彼等深知及確信，本公佈所載資料在各重大方面均 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責,對其準確性或 完整性亦不發表任何聲明,並明確表示概不會對本公佈的全部或任何部分內容所產生或因依賴該 等內容而引致的任何損失承擔任何責任。 香港, 二零二五年八月十四日 於本公佈日期， (i) 執行董事為邱亨中先生及李達輝先生 (ii) 非執行董事為邱泰年先生及邱泰樑先 生；及 (iii) 獨立非執行董事為溫捷基先生，蒒定芳小姐及衞有恒先生 . 本公告乃遵照創業板上市規則的規定而提供有關本集團的資料，全體董事願共同及個別就此負全 責。董事在作出一切合理查詢後確認，就彼等所深知及確信，本公告所載資料在各重大方面均屬 準確完整，並無誤導或欺詐成份；本公告並無遺漏任何其他事項，致使本文或本公告中任何聲明 有所誤導。 本公告將於創業板網站www.hkgem.com的「最新公司公告」網頁由其刊登日期起計最少一連7日 刊登。本公告亦將於本公司網站www.sling-inc.com.hk刊登。 Sling Group Holdings Limited 森 浩 集 團 股 份 有 限 公 司 (於開曼群島註冊成立之有限公司) (股份代號:8285) 董事會 ...

致：香港交易及結算所有限公司 公司名稱: 森浩集團股份有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08285 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,110,000,000 | HKD | | 0.01 | HKD | | 11,100,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 1,110,000,000 | HKD | | 0.01 | HKD | | 11,100,000 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 本月底法定/註冊股本 ...

Financial Performance - The company's revenue decreased to RMB 846 million in 2024, down from RMB 890 million in 2023, reflecting a decline of approximately 4.9%[12] - Total revenue from women's handbags was RMB 664 million, compared to RMB 790 million in 2023, representing a decrease of 16.0%[12] - ELLE's revenue decreased by 33.4% in 2024, while Jessie & Jane's revenue fell by 68.7%[16] - Total revenue decreased by RMB 43.5 million to RMB 84.6 million in 2024, down 34.0% from RMB 128.1 million in 2023[25] - Online retail sales amounted to RMB 79.4 million, representing 93.9% of total sales, a decrease of 32.2% from RMB 117.1 million in 2023[26] - Offline retail sales dropped to RMB 0.8 million, accounting for 1.0% of total sales, a decline of 50.0% from RMB 1.6 million in 2023[25] - Gross profit fell by RMB 27.8 million or 41.2% to approximately RMB 39.7 million, with gross margin decreasing from 52.7% in 2023 to 46.9% in 2024[31] - Selling and distribution costs decreased by RMB 19.2 million or 32.2% to approximately RMB 40.4 million, attributed to reduced marketing and sales activities[32] - Revenue from ELLE products decreased to RMB 83.9 million, down 33.4% from RMB 125.9 million in 2023, primarily due to changes in business arrangements[28] - Jessie & Jane product sales declined to RMB 0.7 million, a significant drop of 68.7% from RMB 2.2 million in 2023[29] Market Environment - The overall economic environment in China remains challenging, with consumer confidence low and domestic consumption weak[15] - The company faces significant market and operational risks, including competition and reliance on e-commerce platforms[18] - The group faced challenges in 2024 due to weakened consumer demand and declining purchasing power, with a cautious outlook for 2025 amid external pressures such as the US-China trade war[42] Strategic Initiatives - The company entered into a sales framework agreement with Guangzhou Caige International Trade Co., allowing it to focus resources on marketing ELLE handbags[13] - The company is leveraging recent developments in artificial intelligence (AI) to enhance consumer shopping experiences[13] - The company is tightening its supply chain to shorten production cycles and streamline inventory[13] - The group is focusing on online marketing through live streaming to enhance customer experience and is prioritizing the adoption of new AI tools to strengthen marketing initiatives[42] Corporate Governance - The board consists of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors[63] - The company is committed to maintaining high standards of corporate governance and has complied with the applicable code provisions of the corporate governance code[60] - The independent non-executive directors have extensive experience in various fields, enhancing the board's oversight capabilities[62] - The audit committee is chaired by an independent non-executive director, ensuring independent oversight of financial reporting[62] - The company has established various committees to delegate responsibilities and ensure effective governance[62] - The company has a policy for the appointment and re-election of directors, ensuring that one-third of the board retires and is eligible for re-election at each annual general meeting[71] - The company has adopted GEM Listing Rules as its own code of conduct for directors' securities trading, confirming compliance for the entire year ending December 31, 2024[113] Employee and Workforce Management - Total employee costs for the year ended December 31, 2024, were RMB 89 million, down from RMB 98 million in 2023, with a reduction in the number of employees from 49 to 38[44] - The company employed 38 full-time employees as of December 31, 2024, down from 49 in 2023, resulting in a turnover rate of 25% compared to 21% in the previous year[168] - The turnover rate for employees under 30 years old increased to 200% in 2024, compared to 100% in 2023[168] - The company emphasizes employee health and safety, providing labor insurance in Hong Kong and additional accident and medical insurance in China[165] - The company provides various employee benefits, including insurance contributions and paid leave, in compliance with local laws and regulations[169] - The company has not conducted any employee training activities in the current year[171] Environmental, Social, and Governance (ESG) Performance - The ESG report outlines the company's efforts and achievements in corporate social responsibility and sustainability for the year from January 1 to December 31, 2024[127] - The board oversees the company's ESG performance, with management responsible for implementing ESG strategies and monitoring departmental performance[133] - The company has authorized third-party ESG professionals to assist in monitoring ESG-related management and overall performance[133] - The company values stakeholder feedback on ESG matters and regularly reviews communication channels to enhance engagement[133] - The company has established clear standards for identifying potential ESG-related issues that may impact business and stakeholders[133] - The company focuses on environmental compliance, waste management, employee compensation and benefits, and operational compliance as key ESG issues[147] - The company has implemented energy-saving measures, including the use of natural light and energy-efficient equipment[155] - The company aims to maintain a stable level of both hazardous and non-hazardous waste, adhering to the principles of reduction, reuse, and recycling[151] Quality Control and Customer Service - The company adheres to strict supply chain management and quality control procedures to maintain high service quality in the mid-range women's handbag market[172] - The company implements strict quality control measures, including on-site inspections of suppliers' facilities and regular performance evaluations based on delivery rates and return rates[176] - The company has established clear operational guidelines for retail employees to ensure service quality meets standards[182] - The company allows customers to return products within seven days without reason, and within 90 days for quality issues[183] - The company has a lifetime repair service for leather goods, charging only for material costs[183] Community Engagement and Corporate Social Responsibility - The company encourages employee participation in community service and charitable activities, aiming to integrate corporate social responsibility into its operations[190] - Resources allocated to community investment focus areas were specified, reflecting the company's commitment to social contributions[200]

Financial Performance - The company's revenue decreased to RMB 846 million in 2024, down from RMB 890.5 million in 2023, reflecting a decline of approximately 4.9%[12] - Total revenue from women's handbags was RMB 664 million, compared to RMB 790 million in 2023, representing a decrease of 16%[12] - The revenue from the ELLE brand decreased by 33.4% in 2024, while Jessie & Jane's revenue declined by 68.7%[16] - Total revenue decreased by RMB 43.5 million to RMB 84.6 million in 2024, down 34.0% from RMB 128.1 million in 2023[25] - Online retail sales amounted to RMB 79.4 million, representing 93.9% of total sales, a decrease of 32.2% from RMB 117.1 million in 2023[26] - Offline retail sales dropped to RMB 0.8 million, accounting for 1.0% of total sales, a decline of 50.0% from RMB 1.6 million in 2023[25] - Gross profit fell by RMB 27.8 million or 41.2% to approximately RMB 39.7 million, with a gross margin of 46.9%, down 5.8 percentage points from 52.7% in 2023[31] - Selling and distribution costs decreased by RMB 19.2 million or 32.2% to approximately RMB 40.4 million, attributed to reduced marketing and sales activities[32] Market Outlook - The company anticipates a cautious outlook for the upcoming year, despite recent government measures aimed at stimulating domestic demand[13] - The company faces significant market risks due to intense competition and changing consumer behavior, which may impact operational performance[18] - The overall consumer sentiment remains weak, influenced by economic uncertainties and rising unemployment rates, particularly among the youth[15] - The group faced challenges in 2024 due to weakened consumer demand and declining purchasing power, with a cautious outlook for 2025 amid external pressures such as the US-China trade war[42] Corporate Governance - The board consists of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors[63] - The company is committed to maintaining high standards of corporate governance and has complied with the applicable code provisions of the corporate governance code[60] - The independent non-executive directors have extensive experience in various fields, including finance, strategy consulting, and corporate governance[56][57] - The audit committee is chaired by an independent non-executive director, ensuring oversight of financial reporting and compliance[62] - The company has established a risk management and internal control system to align with its corporate values[61] - The board is responsible for formulating business policies and strategies aimed at enhancing shareholder value[65] - The company has established a clear separation of roles between the chairman and the CEO to ensure a balance of power and authority[79] - The company has adopted mechanisms to ensure board independence and effectiveness, which are reviewed annually[79] Employee Management - Total employee costs for the year ended December 31, 2024, were RMB 89 million, down from RMB 98 million in 2023, with a reduction in the number of employees from 49 to 38[44] - The company employed a total of 38 employees as of December 31, 2024, down from 49 in 2023, reflecting a turnover rate of 25% compared to 21% in the previous year[168] - The turnover rate for employees under 30 years old increased significantly to 200% in 2024, compared to 100% in 2023[168] - The company emphasizes employee health and safety, providing labor insurance in Hong Kong and additional accident and medical insurance in China[165] - The company provides various employee benefits, including insurance contributions and paid leave, in compliance with local laws and regulations[169] Environmental, Social, and Governance (ESG) Initiatives - The ESG report outlines the company's efforts and achievements in corporate social responsibility and sustainability for the year from January 1 to December 31, 2024[127] - The board oversees the company's ESG performance, with management responsible for implementing ESG strategies and monitoring departmental performance[133] - The company has authorized third-party ESG professionals to assist in monitoring ESG-related management and overall performance[133] - The company has established clear standards for identifying potential ESG-related issues that may impact business and stakeholders[133] - The company focuses on environmental compliance, waste management, employee compensation and benefits, and operational compliance as key ESG issues[147] - The company aims to minimize the generation of hazardous and non-hazardous waste as part of its sustainability strategy[151] - Total greenhouse gas emissions in 2024 were 32 tons CO2 equivalent, down from 42 tons in 2023, a reduction of approximately 23.81%[161] Supply Chain Management - The company adheres to strict supply chain management and quality control procedures to maintain high service quality in the mid-range women's handbag market[172] - The number of suppliers decreased from 18 in 2023 to 10 in 2024, all located in South China[175] - The company emphasizes selecting environmentally friendly suppliers to minimize environmental impact[176] - The company conducts on-site reviews of potential suppliers to assess their production capabilities and compliance with quality standards[176] Customer Service and Quality Control - The company received approximately 8,902 after-sales service orders this year, with most being repairable for resale[185] - The company allows customers to return products within seven days without reason and within 90 days for quality issues[183] - Quality control measures include sampling raw materials and conducting multiple inspections throughout the production process[179] - The company has implemented a clear operational guideline for retail employees to ensure service quality meets standards[182] Community Engagement and Corporate Social Responsibility - The company encourages employee participation in community service and charitable activities, integrating corporate social responsibility into its operations[190] - Resources allocated to community investment focus areas were detailed, showcasing the company's commitment to social contributions[200]

Financial Performance - The total revenue for the year ended December 31, 2024, was RMB 84.6 million, a decrease of 34.0% or RMB 43.5 million compared to RMB 128.1 million for the year ended December 31, 2023[4]. - The company reported a loss of RMB 10.7 million for the year ended December 31, 2024, compared to a loss of RMB 7.3 million for the year ended December 31, 2023[4]. - Online business revenue was RMB 83.8 million, down 33.8% year-over-year, with online retail sales contributing RMB 79.4 million, a decrease of 32.2%[4]. - Offline business revenue decreased to RMB 0.8 million, a decline of 50.0% compared to the previous year[4]. - The gross profit for the year was RMB 39.7 million, down from RMB 67.5 million in the previous year, reflecting a significant decline in profitability[5]. - The loss attributable to equity holders of the company was RMB 10.0 million for the year ended December 31, 2024, compared to RMB 8.2 million in the previous year[6]. - The basic and diluted loss per share for the year was RMB 1.79, compared to RMB 1.47 in the previous year[6]. - Revenue decreased to approximately RMB 84,588,000 due to a strategic change in business operations starting April 2024, resulting in an increased net loss compared to the previous year[14]. - Total revenue for the group from external customers in China (excluding Hong Kong) was RMB 84,588 thousand in 2024, down from RMB 128,109 thousand in 2023, a decrease of about 33.9%[29]. - The group reported a pre-tax loss of RMB 44,592 thousand in 2024, down from RMB 60,102 thousand in 2023, indicating a reduction of approximately 25.8%[33]. - The company reported a basic loss attributable to equity holders of RMB 10,013,000 in 2024, compared to RMB 8,249,000 in 2023, reflecting an increase of approximately 21.4%[38]. Assets and Liabilities - The company's total assets decreased from RMB 41.9 million in 2023 to RMB 28.4 million in 2024, indicating a reduction in asset base[7]. - Current liabilities decreased from RMB 43.7 million in 2023 to RMB 33.5 million in 2024, showing a reduction in short-term obligations[7]. - As of December 31, 2024, the group had current liabilities of approximately RMB 5,147,000 and capital deficiency of approximately RMB 11,588,000[14]. - The group has bank borrowings classified as current liabilities amounting to RMB 16,767,000, with RMB 11,112,000 being revolving bank loans[14]. - The total bank borrowings decreased to RMB 16,767,000 in 2024 from RMB 18,133,000 in 2023, reflecting a decline of about 7.5%[46]. - The group’s designated non-current assets in China (excluding Hong Kong) decreased to RMB 2,016 thousand in 2024 from RMB 4,699 thousand in 2023, a decrease of approximately 57.1%[29]. - The group’s total assets decreased to approximately RMB 334 million (2023: approximately RMB 491 million), while total equity fell to a loss of approximately RMB 116 million (2023: loss of approximately RMB 38 million)[81]. Cash Flow and Financing - The group reported a net loss of approximately RMB 10,689,000 for the year ending December 31, 2024, with operating cash income of approximately RMB 1,433,000[14]. - Cash and bank balances as of December 31, 2024, were approximately RMB 8,168,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[14]. - The board believes that the group will have sufficient cash resources to meet operational funding and financial obligations for the next eighteen months[15]. - Cash and cash equivalents increased to RMB 8,168,000 in 2024 from RMB 7,445,000 in 2023, representing a growth of about 9.7%[44]. - The company reported a cash balance of approximately RMB 4,250,000 in 2024, up from RMB 2,394,000 in 2023, indicating a significant increase[44]. - The group has unutilized bank financing totaling RMB 35,188,000 as of December 31, 2024, and new loans from shareholders amounting to RMB 2,516,000 to support operations[16]. - The group is negotiating with banks to renew existing financing or refinance if necessary[16]. Operational Strategies and Risks - Management is focusing on online marketing, collaborating with major e-commerce providers, and exploring brand licensing to improve profitability and control operating costs[14]. - The company faced significant risks including potential penalties from failing to renew the ELLE brand licensing agreement and operational challenges on third-party e-commerce platforms[66]. - The company identified several operational risks that could impact performance, including market competition and changing consumer behavior[65]. - The group continues to focus on online marketing through live streaming to enhance customer experience and is adopting new AI tools to strengthen marketing efforts[85]. - The group anticipates challenges in 2024 due to weakened consumer demand and purchasing power, with a cautious outlook for 2025[85]. Employee and Operational Costs - The group’s total employee costs decreased to RMB 8,893 thousand in 2024 from RMB 9,790 thousand in 2023, a decline of about 9.1%[33]. - The total employee cost for the year ended December 31, 2024, was RMB 89 million (2023: RMB 98 million)[87]. - Administrative and other operating expenses slightly decreased by RMB 0.4 million or 2.9% to approximately RMB 13.2 million, mainly due to reduced employee costs[78]. - The group employed 38 staff as of December 31, 2024 (2023: 49 staff)[87]. Dividends and Shareholder Information - The company did not recommend the distribution of a final dividend for the year ended December 31, 2024[4]. - The group did not declare or pay any dividends for the year ended December 31, 2024, consistent with 2023[37]. - The company’s total issued and paid-up ordinary shares remained at 560 million, with a par value of HKD 0.01 per share[55]. - The average number of ordinary shares for calculating basic loss per share remained unchanged at 560,000,000 for both 2024 and 2023[38]. Compliance and Reporting - The independent auditor's report confirms that the consolidated financial statements of the company as of December 31, 2024, reflect a true and fair view of the group's financial position and performance[99]. - There are significant uncertainties regarding the company's ability to continue as a going concern, as highlighted in note 2.1 of the consolidated financial statements[101]. - The company will issue its 2024 annual report to shareholders in due course, which will be available on the Stock Exchange and the company's website[102]. - The announcement is made in compliance with the GEM listing rules, ensuring that all information provided is accurate and complete[104].

SLING GROUP HOLDINGS LIMITED 森 浩 集 團 股 份 有 限 公 司 ( 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司) 股 份 代 號: 8285 中期報告 1111 1177 香港聯合交易所有限公司（「聯交所」） GEM的特色 GEM的定位乃為相比起聯交所主板上市 的其他公司帶有更高投資風險的中小型公 司提供上市的市場。有意投資者應了解投 資於此類公司的潛在風險，並應經審慎周 詳考慮後方作出投資決定。 對本報告的全部或任何部分內容所產生或 因依賴該等內容而引致的任何損失承擔任 何責任。 本報告乃遵照聯交所GEM證券上市規則 （「GEM上市規則」）的規定提供有關森浩 集團股份有限公司（「本公司」）的資料。本 公司董事（「董事」）願對此共同及個別承擔 全部責任。董事在作出一切合理查詢後確 認，就彼等深知及確信，本報告所載資料 在各重大方面均屬準確及完整，且無誤導 或欺詐成分；及並無遺漏其他事宜致使本 報告所載任何陳述或本報告產生誤導。 由於在GEM上市的公司一般為中小型公 司，在GEM買賣的證券可能會承受較於聯 交所主板買賣的證券為高的市場波動風 險，同時亦無法保證在GE ...

Financial Performance - For the six months ended June 30, 2024, the group reported revenue of RMB 54,344,000, a decrease of 12% compared to RMB 61,682,000 for the same period in 2023[2] - Gross profit for the same period was RMB 23,529,000, down from RMB 32,290,000, reflecting a decline in profitability[2] - The net loss attributable to equity holders for the six months was RMB 6,230,000, compared to a loss of RMB 3,417,000 in the prior year, indicating a worsening financial position[3] - The total comprehensive loss for the period was RMB 6,877,000, compared to RMB 3,080,000 in the previous year, highlighting increased financial challenges[2] - The company reported a total comprehensive loss of RMB 6,193,000 for the six months ended June 30, 2024, compared to a loss of RMB 3,200,000 for the same period in 2023[6] - The accumulated losses increased to RMB 60,839,000 as of June 30, 2024, reflecting ongoing financial challenges[6] - The company's net loss increased from approximately RMB 3.3 million for the six months ended June 30, 2023, to approximately RMB 6.9 million for the same period in 2024, an increase of about RMB 3.6 million[44] Assets and Liabilities - As of June 30, 2024, total assets were RMB 28,401,000, down from RMB 41,879,000 at the end of 2023, indicating a significant reduction in asset base[4] - Current liabilities decreased to RMB 32,492,000 from RMB 40,159,000, suggesting some improvement in short-term financial obligations[4] - The company reported a net current (liabilities)/assets position of RMB (4,091,000), a decline from RMB 1,720,000 at the end of 2023, indicating increased financial strain[5] - The company’s equity attributable to equity holders showed a capital deficit of RMB (6,426,000) as of June 30, 2024, compared to RMB (2,706,000) at the end of 2023, reflecting deteriorating financial health[5] - The company's cash and bank balances decreased to RMB 3,972,000 from RMB 7,445,000, indicating reduced liquidity[4] - The company's net current liabilities and capital deficiency as of June 30, 2024, were RMB 4,091,000 and RMB 8,177,000, respectively[16] Cash Flow - For the six months ended June 30, 2024, the company reported a net cash outflow from operating activities of RMB 967,000, compared to a net inflow of RMB 534,000 for the same period in 2023[7] - The net cash generated from investing activities was RMB 21,000, a slight increase from a cash outflow of RMB 2,000 in the previous year[7] - The net cash used in financing activities amounted to RMB 2,527,000, compared to RMB 2,408,000 in the prior year, indicating an increase in financing costs[7] - The total cash and cash equivalents decreased by RMB 3,473,000, down from a decrease of RMB 1,876,000 in the same period last year[7] - As of June 30, 2024, the company's cash and cash equivalents stood at RMB 3,972,000, a significant drop from RMB 7,783,000 at the end of the previous year[7] Revenue Breakdown - Revenue from external customers for the six months ended June 30, 2024, was RMB 54,344,000, a decrease of 11.9% from RMB 61,682,000 in the same period of 2023[17][20] - Online retail sales for the six months ended June 30, 2024, were RMB 51,886,000, down from RMB 54,907,000 in 2023[17] - The revenue from women's handbags for the six months ended June 30, 2024, was RMB 36.2 million, down approximately 12.1% from RMB 41.2 million in the same period of 2023[37] Operational Highlights - The company continues to focus on the design and sale of women's handbags, small leather goods, luggage, and travel products, indicating a commitment to its core business[8] - The company plans to enhance online sales of women's handbags through partnerships with major online platforms and focus on short videos and live streaming for marketing in the second half of 2024[38] - The company has not provided specific guidance on future performance or new product developments in the current report[2] Employee and Cost Management - Total employee costs decreased to RMB 4,519,000 for the six months ended June 30, 2024, down from RMB 4,761,000 in the same period of 2023, reflecting a reduction of about 5.1%[6] - The company has 44 employees as of June 30, 2024, down from 53 employees as of June 30, 2023[48] - Sales and distribution costs decreased from approximately RMB 30.1 million for the six months ended June 30, 2023, to approximately RMB 24.7 million for the same period in 2024, a decline of about 17.9%[41] Corporate Governance - The company is committed to maintaining high standards of corporate governance and has complied with applicable governance codes[56] - The Audit Committee was established on December 15, 2017, to oversee financial reporting processes and risk management[59] - The Audit Committee consists of three independent non-executive directors, including the chairman, Mr. Wen Jieji[59] Shareholder Information - Major shareholders include Yen Sheng BVI and Summit Time Resources Limited, holding 52.1141% and 22.8859% of shares, respectively[52] - The company holds a 52.1141% shareholding in Yen Sheng BVI, with significant interests held by directors[52] Tax and Compliance - The company has not accrued any provisions for Hong Kong profits tax or China corporate income tax due to the absence of taxable profits[22] - All directors have complied with the GEM Listing Rules regarding securities trading as of June 30, 2024[58] Risk Management - The company has not established any hedging arrangements for foreign exchange risks, as it primarily operates in RMB[47] - The board will periodically review the foreign exchange risks and may establish hedging arrangements as necessary[47]