Financial Reporting - The company will announce its full-year results for the year ending December 31, 2024, on April 15, 2025[3] - All other information in the 2024 annual results announcement remains accurate and unchanged[3] Audit Committee - The audit committee consists of two independent non-executive directors and one non-executive director, who reviewed the group's accounting principles and financial reports[3]

Business Operations - The Group has been engaged in the design, research, development, manufacture, and sale of image transmission fiber optic products since its listing on GEM in 2004[20]. - The Group produces five main products, including fiber optic inverters and fiber optic face plates, primarily used in military low-light night vision devices[21]. - The Group's products consist of over 10 million optical fibers, indicating a high level of technological sophistication[20]. - The Group's customers are mainly located in China, Russia, and other European countries, highlighting its international market presence[21]. - The Group's core business development efforts are intended to fully realize its potential for optimal performance[15]. - The Company continued to engage in the design, research, development, manufacture, and sale of image transmission fibre optic products[108]. Financial Performance - For the year ended 31 December 2024, the Group's revenue was approximately RMB17,143,000, representing a decrease of approximately 36% compared to RMB26,717,000 in 2023[34][37]. - The cost of sales for the Group was approximately RMB10,715,000, a decrease of approximately 25% from RMB14,333,000 in the previous year[39]. - The gross profit margin decreased to 37.5% in 2024 from 46.35% in 2023 due to hindered exports and decreased sales[40]. - The Group recorded other income, gains, and losses amounting to approximately RMB9,883,000, an increase of approximately RMB1,482,000 compared to RMB8,401,000 in 2023[41]. - Administrative and other operating expenses increased to approximately RMB29,207,000, representing an increase of approximately RMB5,405,000 from RMB23,802,000 in 2023[42]. - Finance costs rose to approximately RMB9,967,000, an increase of approximately RMB1,035,000 compared to RMB8,932,000 in the previous year[43]. - The Group's loss after tax for the year was approximately RMB33,620,000, compared to a loss of RMB10,375,000 in 2023[43]. - Total assets decreased by approximately RMB8,796,000 to approximately RMB162,874,000 as at 31 December 2024, representing a decrease of approximately 5.12%[51]. - Total liabilities increased by approximately RMB24,824,000 to approximately RMB304,795,000 as at 31 December 2024, representing an increase of approximately 8.87%[52]. - The gearing ratio as at 31 December 2024 was approximately 200%, up from 173% in 2023[58]. - The Group's reserves available for dividend distribution to shareholders were RMB0 as of December 31, 2024, unchanged from 2023[120]. Strategic Initiatives - The Group received a subsidy of RMB20,000,000 from the Taiyuan City government to support its technological transformation project[23]. - The Group plans to introduce new strategic investors and negotiate capital operation proposals to improve its financial position[29][30]. - The Board aims to improve operations, production, and market development capabilities to enhance corporate value and financial performance[15]. - The Board is focused on reducing operating costs and improving product quality to restore profit growth[15]. - The Group's operational measures are aimed at enhancing business capabilities amid a difficult operating environment[22]. - Management is preparing fundraising plans, such as equity financing and debt restructuring, to ensure rapid recovery of operations[75]. Shareholder Information - As of December 31, 2024, the Group's largest customer accounted for approximately 65% of total turnover, up from 44% in 2023[127]. - The five largest customers accounted for approximately 91% of total turnover, slightly down from 92% in 2023[127]. - The Group's largest supplier accounted for approximately 40% of total purchases, an increase from 25% in 2023[127]. - The five largest suppliers accounted for approximately 70% of total purchases, up from 51% in 2023[127]. - As of December 31, 2024, Yuan Guoliang holds 3,895,000 shares, representing approximately 3.54% of domestic shares and 1.26% of H shares[155]. - Zhang Shao Hui has an interest in a controlled corporation with 82,200,000 domestic shares, accounting for approximately 41.34% of domestic shares and 26.61% of total share capital[159]. - Beijing Gensir Venture Capital Management Limited is the registered and beneficial owner of 82,200,000 domestic shares, which is approximately 41.34% of domestic shares[159]. - Taiyuan Changcheng Optics Electronics Industrial Company Limited holds 80,160,000 domestic shares, representing approximately 40.31% of domestic shares and 25.95% of total share capital[159]. - Beijing Yuankang Technology Co., Ltd. owns 34,000,000 domestic shares, which is approximately 17.10% of domestic shares and 11.01% of total share capital[161]. Governance and Compliance - The Company has established an audit committee to oversee financial reporting, risk management, and internal control systems, comprising two independent non-executive directors and one non-executive director[185]. - The company has appointed Beijing Xinghua Caplegend CPA Limited as its auditor effective from October 23, 2024, following the resignation of ZHONGHUI ANDA CPA Limited[186]. - The board of directors currently comprises eight members, including three executive directors, two non-executive directors, and three independent non-executive directors[197]. - The company has complied with the Corporate Governance Code, except for the lack of insurance coverage for directors against legal actions due to insufficient budget[194]. - The company has adopted the Required Standard of Dealings for securities transactions by directors, with no reported non-compliance for the year ended December 31, 2024[195]. - The audit committee has reviewed the audited annual results for the year ending December 31, 2024[189].

机构评级方面，目前暂无机构对该股做出投资评级建议。 4月30日，截至港股收盘，恒生指数上涨0.51%，报22119.41点。长城微光（08286.HK）收报0.097港元/ 股，上涨29.33%，成交量40万股，成交额3.74万港元，振幅32.0%。 最近一个月来，长城微光累计跌幅31.19%，今年来累计涨幅25%，跑赢恒生指数9.71%的涨幅。 财务数据显示，截至2024年12月31日，长城微光实现营业总收入1714.3万元，同比减少35.83%；归母净 利润-3353.4万元，同比减少222.69%；毛利率37.5%，资产负债率187.14%。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 本文源自：金融界 作者：行情君 行业估值方面，资讯科技器材行业市盈率（TTM）平均值为41.02倍，行业中值3.02倍。长城微光市盈 率-0.64倍，行业排名第60位；其他长虹佳华（03991.HK）为2.99倍、南方通信（01617.HK）为3.05倍、 SIS INT'L（00529.HK）为3.8倍、普天通信集团（01720.HK）为6.29倍、华显光电（00334.HK）为 ...

Financial Performance - The company's total revenue for the year ended December 31, 2024, was RMB 17,143,000, a decrease of 35.7% compared to RMB 26,717,000 in 2023[6] - Gross profit for the same period was RMB 6,428,000, down 48.0% from RMB 12,384,000 in the previous year[6] - The net loss for the year was RMB 33,620,000, compared to a net loss of RMB 10,375,000 in 2023, representing a significant increase in losses[6] - The company's basic and diluted loss per share was RMB 0.11, compared to RMB 0.03 in the previous year[6] - The company reported a loss attributable to owners of approximately RMB 33,534,000 for the year ended December 31, 2024, compared to a loss of RMB 10,392,000 in 2023[32] - The company recorded an after-tax loss of approximately RMB 33,620,000 for the year ended December 31, 2024, compared to a loss of RMB 10,375,000 in 2023[51] Revenue Breakdown - Total revenue from fiber optic products for the year 2024 was RMB 17,143,000, a decrease of 35.8% from RMB 26,717,000 in 2023[24] - The largest revenue contributor was the fiber optic imaging device, generating RMB 7,014,000, accounting for 41% of total revenue in 2024, down from 65% in 2023[24] - Revenue from external customers in China increased to RMB 15,402,000 in 2024 from RMB 11,949,000 in 2023, representing a growth of 28.5%[26] - Revenue from major customer B was RMB 11,204,000 in 2024, up from RMB 7,526,000 in 2023, indicating a growth of 48.5%[27] Liabilities and Financial Position - Total current liabilities as of December 31, 2024, were RMB 218,430,000, an increase from RMB 192,590,000 in 2023[7] - The company's net current liabilities amounted to RMB 194,219,000, compared to RMB 153,328,000 in the previous year, indicating worsening liquidity[7] - Non-current liabilities were RMB 86,365,000, slightly decreased from RMB 87,381,000 in 2023[8] - As of December 31, 2024, the company's current liabilities and net liabilities were approximately RMB 194,219,000 and RMB 141,921,000, respectively, indicating significant uncertainty regarding the company's ability to continue as a going concern[45] - The total liabilities of the group increased by approximately RMB 24,824,000 to about RMB 304,795,000, an increase of about 8.87% compared to the previous fiscal period[54] - The total equity deficit of the group increased by approximately RMB 33,620,000 to about RMB 141,921,000, compared to RMB 108,301,000 at the end of the previous fiscal period[54] - The group's debt-to-equity ratio as of December 31, 2024, was approximately 200%, up from 173% in 2023[55] Impairment and Asset Management - The company reported a significant impairment loss on trade receivables of RMB 10,177,000, compared to a reversal of RMB 2,240,000 in the previous year[6] - The company reported a significant increase in impairment losses on trade receivables, rising to RMB 10,177,000 in 2024 from a reversal of RMB 2,240,000 in 2023[31] - The company has not recognized any adjustments related to potential asset impairments in its financial statements for the year ending December 31, 2024[13] Liquidity and Financial Measures - The company has implemented measures to improve liquidity, including debt restructuring and seeking further financial support from major shareholders[11] - The company believes it will have sufficient working capital to meet its operational and financial obligations in the next twelve months[12] - The company has entered into new sales contracts for optical fiber products with several independent third-party customers, although there are concerns about sufficient funding for production requirements[42] - The company plans to implement financial measures, including issuing new shares or bonds to attract strategic investors and negotiating debt restructuring with shareholders and lenders[46] - The group has taken measures to improve its liquidity situation, including debt restructuring and seeking further financial support from major shareholders and lenders[61] Operational and Strategic Outlook - The company is currently facing significant uncertainty regarding its ability to continue as a going concern, dependent on successful negotiations for debt restructuring and financial support[13] - The company aims to enhance its operational capabilities by revitalizing long-term assets and extending its product offerings into the civilian market[46] Employee and Corporate Governance - The group employed approximately 295 full-time employees as of December 31, 2024[62] Accounting Standards and Compliance - The company has adopted new or revised Hong Kong Financial Reporting Standards, which have not had a significant impact on its performance or financial position[17] - The company is evaluating the potential impacts of new accounting standards that are expected to take effect in future periods, with no significant effects anticipated at this time[21] Other Financial Information - The company has not declared any dividends for the years ended December 31, 2024, and 2023[34] - The total financial expenses increased to RMB 9,967,000 in 2024 from RMB 8,932,000 in 2023, an increase of about 11.6%[6] - The total interest charged by related parties, including Taiyuan Great Wall and Beijing Zhongze, amounted to approximately RMB 1,715,000 for the year ended December 31, 2024, compared to RMB 1,518,000 in 2023[52] - The group has not made any acquisitions or disposals of subsidiaries during the year ended December 31, 2024[57]

Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 17,143,000, a decrease of 35% compared to RMB 26,717,000 in 2023[6] - Gross profit for the same period was RMB 6,428,000, down 48% from RMB 12,384,000 in the previous year[6] - The company reported a loss before tax of RMB 33,620,000, compared to a loss of RMB 10,375,000 in 2023, indicating a significant increase in losses[6] - Basic and diluted loss per share was RMB 0.11, compared to RMB 0.03 in the previous year[6] - The company reported a loss attributable to owners of approximately RMB 33,534,000 for the year ended December 31, 2024, compared to a loss of RMB 10,392,000 in 2023[32] - The company recorded an after-tax loss of approximately RMB 33,620,000 for the year ended December 31, 2024, compared to a loss of RMB 10,375,000 in 2023[51] Current and Non-Current Liabilities - Total current liabilities as of December 31, 2024, were RMB 218,430,000, an increase from RMB 192,590,000 in 2023[7] - The company's net current liabilities amounted to RMB 194,219,000, compared to RMB 153,328,000 in the previous year, reflecting worsening liquidity[7] - Non-current liabilities totaled RMB 86,365,000, slightly down from RMB 87,381,000 in 2023[8] - The company has outstanding bank and other borrowings of approximately RMB 70,770,000, with RMB 11,944,000 overdue[11] - As of December 31, 2024, the company's current liabilities and net liabilities were approximately RMB 194,219,000 and RMB 141,921,000, respectively, indicating significant uncertainty regarding the company's ability to continue as a going concern[45] Revenue Sources and Trends - Total revenue from fiber optic products for the year 2024 was RMB 17,143,000, a decrease of 35.8% compared to RMB 26,717,000 in 2023[24] - The largest revenue contributor in 2024 was the fiber optic imaging device, accounting for 41% of total revenue, down from 65% in 2023[24] - Revenue from external customers in China increased to RMB 15,402,000 in 2024 from RMB 11,949,000 in 2023, representing a growth of 28.5%[26] - Revenue from major customer B was RMB 11,204,000 in 2024, up from RMB 7,526,000 in 2023, indicating a growth of 48.5%[27] - The company's revenue from Russia significantly decreased from RMB 11,884,000 in 2023 to RMB 365,000 in 2024, reflecting a decline of 96.9%[26] Liquidity and Financial Measures - The company is implementing measures to improve liquidity, including debt restructuring and seeking further financial support from major shareholders[11] - The company has not yet successfully negotiated debt restructuring or interest reduction plans, which poses a significant uncertainty for its ability to continue operations[13] - The company believes it will have sufficient working capital to meet its operational and financial obligations in the next twelve months[12] - The company plans to implement financial measures, including issuing new shares or bonds to attract strategic investors and negotiating debt restructuring with shareholders and lenders[46] - The company received a government subsidy of RMB 20,000,000 for industrial transformation and technology upgrade projects, although refinancing efforts have faced challenges[44] Asset and Equity Position - As of December 31, 2024, the total assets of the group decreased by approximately RMB 8,796,000 to about RMB 162,874,000, a reduction of about 5.12% compared to the previous fiscal period[54] - The total liabilities of the group increased by approximately RMB 24,824,000 to about RMB 304,795,000, an increase of about 8.87% compared to the previous fiscal period[54] - The total equity deficit of the group increased by approximately RMB 33,620,000 to about RMB 141,921,000, compared to RMB 108,301,000 at the end of the previous fiscal period[54] - The group's debt-to-equity ratio as of December 31, 2024, was approximately 200%, up from 173% in 2023[55] Operational Insights - The company’s sales typically grant customers a 90-day credit period, with new customers required to pay a deposit or cash on delivery[28] - The company has entered into new sales contracts for optical fiber products with several independent third-party customers, although there are concerns about sufficient funding for production requirements[42] - The company is exploring opportunities to lease out underutilized properties to generate additional income and is focusing on research and development of new products[46] - The group has approximately 295 full-time employees as of December 31, 2024[62] Impairment and Financial Expenses - The total financial expenses increased to RMB 9,967,000 in 2024 from RMB 8,932,000 in 2023, marking an increase of about 11.6%[6] - The company reported a significant impairment loss on trade receivables of RMB 10,177,000 in 2024, compared to a reversal of RMB 2,240,000 in 2023[31] - The net amount of trade receivables decreased significantly to RMB 5,881,000 in 2024 from RMB 17,026,000 in 2023, indicating a decline of approximately 65.5%[35] Taxation - The company maintained a corporate income tax rate of 15% for both 2024 and 2023, benefiting from a tax incentive that is set to expire on December 6, 2024[30] Subsidiaries and Related Parties - The group did not acquire or sell any subsidiaries during the fiscal year ending December 31, 2024[57] - The group received financial support from related parties, with amounts payable to Taiyuan Great Wall of approximately RMB 23,803,000 and to Beijing Zhongze of approximately RMB 1,475,000 as of December 31, 2024[52] - The total interest charged by Taiyuan Great Wall, Beijing Zhongze, and related parties amounted to approximately RMB 1,715,000, compared to RMB 1,518,000 in the previous year[52]

Shanxi Changcheng Microlight Equipment Co. Ltd. * 山 西 長 城 微 光 器 材 股 份 有 限 公 司 (a joint stock Ilmited company incorporated in the People's Republic of Chinal 〔龄中華人民共和國註冊成立之殿份有限公司〕 (Stock Code 股份代號：8286) 2024 中期報告 ·For identification purpase anly a duals 山西長城微光器材股份有限公司 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上巿的市場，此等公司相比起其他在聯交所上巿 的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經 過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券 承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦 不發表任何 ...

山西長城微光器材股份有限公司 SHANXI CHANGCHENG MICROLIGHT EQUIPMENT CO. LTD.* （於中華人民共和國註冊成立之股份有限公司） （股份代號：8286） 截至二零二四年六月三十日止六個月的 中期業績公告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上巿的市場，此等公司相比起其他在聯交所上巿 的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經 過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券 承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 本公告乃遵照聯交所GEM證券上市規則之規定而提供有關山西長城微光器材股份有限公 司（「本公司」）之資料，本公司各董事願共同及個別對此承擔全部責任。本公司董事經作 出一切合理查詢後確認， ...

現本公司與一名股東及其他借貸人（一）繼續溝通進一步減免利息事宜，旨在減少本集 團的流動負債及降低財務費用。 除年報所載資料外，本公司之董事（「董事」）會（「董事會」）謹此提供年報的以下補充資料，年報應 與以下資料一並閱讀。 股份融資、債務重組及激活資產相結合，對於本公司在增加資金募集量，可以節約時間，提 高效率。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等 內容而引致的任何損失承擔任何責任。 山西長城微光器材股份有限公司 SHANXI CHANGCHENG MICROLIGHT EQUIPMENT CO. LTD.* （於中華人民共和國註冊成立之股份有限公司） （股份代號：8286） 免責聲明 在二零二三年度審計工作過程中審計委員會委員與審計師就年報及二零二三年經審核的財務報 表多次召開了會議，就審計結果進行了討論，審計委員會委員對持續經營審計資格的意見已充分 瞭解並認同。二零二四年四月三十日召開的董事會中審計委員會委員同各位董事及本公司管理層 就年報及二零二三年經審核的財務報表進行 ...

Financial Performance - For the three months ended March 31, 2024, the company's revenue was RMB 3,106,000, a decrease of 69.1% compared to RMB 10,053,000 for the same period in 2023[4] - The cost of sales for the same period was RMB 1,626,000, resulting in a gross profit of RMB 1,480,000, down 65.1% from RMB 4,244,000 in the previous year[4] - The company reported a net loss of RMB 4,001,000 for the first quarter of 2024, compared to a net loss of RMB 302,000 in the same quarter of 2023, indicating a significant increase in losses[4] - Basic and diluted loss per share for the first quarter of 2024 was RMB 0.013, compared to RMB 0.001 for the same period in 2023[15] - Financial expenses for the first quarter of 2024 totaled RMB 2,068,000, an increase from RMB 861,000 in the previous year[12] - Other income, gains, and losses for the first quarter of 2024 were RMB 627,000, slightly up from RMB 567,000 in the same period last year[4] - For the three months ended March 31, 2024, the company's sales amounted to approximately RMB 3,106,000, a decrease of about 69.10% compared to RMB 10,053,000 for the same period in 2023[25] - The cost of sales for the same period was approximately RMB 1,626,000, down about 72.01% from RMB 5,809,000 in the previous year[26] - The company recorded a net loss of approximately RMB 4,001,000 for the three months ended March 31, 2024, compared to a net loss of RMB 302,000 for the same period in 2023[28] Financial Position and Liabilities - The company's net liabilities as of March 31, 2024, were approximately RMB 112,302,000, raising significant doubts about its ability to continue as a going concern[7] - As of March 31, 2024, the company's total liabilities amounted to approximately RMB 112,302,000, raising significant doubts about its ability to continue as a going concern[20] - As of March 31, 2024, the company had outstanding bank borrowings of RMB 6,020,000, with the loan term extended to June 30, 2024[31] - The company received financial support from related parties, with amounts payable to Taiyuan Changcheng totaling approximately RMB 22,300,000 as of March 31, 2024[29] - The company has pledged assets worth approximately RMB 41,250,000 as collateral for its bank borrowings[34] Corporate Governance and Compliance - The company has established an audit committee in compliance with GEM Listing Rules, consisting of two independent non-executive directors and one non-executive director[52] - The audit committee is responsible for reviewing and supervising the financial reporting system, risk management, and internal control systems of the group[52] - The board of directors comprises eight members, including three executive directors, two non-executive directors, and three independent non-executive directors[54] - The company has adopted a set of standard codes for securities trading by directors, which are not less stringent than the required standards under GEM Listing Rules[50] - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15, except for the lack of insurance arrangements for directors against legal actions due to budget constraints[51] - The company is committed to maintaining high standards of corporate governance and compliance with relevant regulations[51] - The chairman of the audit committee is Mr. Xu Yongfeng[52] Strategic Initiatives - The company has implemented measures to improve its liquidity, including debt restructuring and seeking financial support from major shareholders[7] - The company plans to improve its financial situation by issuing new shares or bonds to attract strategic investors and negotiating debt restructuring with shareholders and lenders[22] - The company aims to enhance its operational efficiency by leasing out underutilized properties to generate additional income and extending its product offerings into civilian markets[22] Shareholder Information - As of March 31, 2024, the major shareholder Zhang Shaohui holds approximately 82,200,000 shares, representing 41.34% of the domestic shares[39] - The total number of H shares held by director Yuan Guoliang is 3,895,000, representing 3.54% of the total shares[36] Other Information - The board of directors did not recommend the payment of any dividends for the three months ended March 31, 2024, consistent with the previous year[16] - The company has adopted all new and revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on its financial statements[10] - The company has no significant contracts that would impact its business as of March 31, 2024[46] - No stock option plans are in place for the group[44] - There were no purchases, sales, or redemptions of the company's listed securities during the three months ending March 31, 2024[43] - The company has not granted any stock purchase rights to directors or supervisors during the reporting period[45] - The company does not have any competitive interests among its directors, supervisors, and management as of March 31, 2024[48] - The company has no new product or technology developments reported in the current quarter[38] - There are no indications of market expansion or mergers and acquisitions in the recent reports[38] - The company has not disclosed any future performance guidance or outlook in the current quarter[38] - The unaudited performance for the three months ending March 31, 2024, has been reviewed by the audit committee[52] - The report will be available on the Hong Kong Stock Exchange website for at least seven days from the publication date[54] - The report was published on May 14, 2024[54]

Financial Performance - For the three months ended March 31, 2024, the company's revenue was RMB 3,106,000, a decrease of 69.1% compared to RMB 10,053,000 for the same period in 2023[5] - The cost of sales for the same period was RMB 1,626,000, down from RMB 5,809,000, resulting in a gross profit of RMB 1,480,000, a decline of 65.1% from RMB 4,244,000[5] - The company reported a loss before tax of RMB 4,001,000 for the three months ended March 31, 2024, compared to a loss of RMB 302,000 for the same period in 2023, indicating a significant increase in losses[5] - Basic and diluted loss per share for the period was RMB 0.013, compared to RMB 0.001 for the same period in 2023, reflecting a substantial increase in per-share losses[17] - The company recorded a net loss of approximately RMB 4,001,000 for the three months ended March 31, 2024, compared to a net loss of RMB 302,000 for the same period in 2023[29] Financial Position - The company's net liabilities as of March 31, 2024, were approximately RMB 112,302,000, raising significant doubts about its ability to continue as a going concern[8] - As of March 31, 2024, the company's total liabilities amounted to approximately RMB 112,302,000, raising significant doubts about its ability to continue as a going concern[22] - As of March 31, 2024, the company had outstanding bank loans of RMB 6,020,000, with the loan term extended to June 30, 2024[32] - The company has pledged assets valued at approximately RMB 41,250,000 as collateral for its bank loans[35] Liquidity and Financial Strategy - The company has implemented measures to improve liquidity, including debt restructuring discussions with shareholders and lenders[8] - The company plans to improve its financial situation by issuing new shares or bonds to attract strategic investors and negotiating debt restructuring with shareholders and lenders[24] - Financial expenses for the period were RMB 2,068,000, a decrease from RMB 2,338,000 in the same period last year, primarily due to lower interest expenses[13] - The company received financial support from related parties, with amounts payable to Taiyuan Changcheng and Beijing Zhongze totaling approximately RMB 22,300,000 and RMB 1,507,000, respectively[30] Operational Strategy - The company aims to enhance its operational efficiency by leasing out underutilized properties and developing new products to extend its market reach[24] - The company is focusing on expanding its customer base and revenue sources by leveraging its technological advantages in military products to enter the civilian market[24] Shareholder Information - As of March 31, 2024, the major shareholder Zhang Shaohui holds 82,200,000 shares, representing approximately 41.34% of the domestic shares[40] - Beijing Zhongze Venture Capital Management Co., Ltd. also holds 82,200,000 shares, equivalent to 41.34% of the domestic shares[40] - Taiyuan Changcheng Optoelectronics Co., Ltd. possesses 80,160,000 shares, accounting for 40.31% of the domestic shares[40] - Beijing Yuankang Technology Co., Ltd. has 34,000,000 shares, which is 17.10% of the domestic shares[40] - Ning Shuwu holds 34,000,000 shares, representing 17.10% of the domestic shares[40] - Taiyuan Tanghai Automatic Control Co., Ltd. owns 24,900,000 shares, making up 12.52% of the domestic shares[40] - Liu Jiang holds 24,900,000 shares, which is 12.52% of the domestic shares[40] - Qiu Guiqing has 24,900,000 shares, representing 12.52% of the domestic shares[40] Corporate Governance - The board of directors has not recommended the payment of dividends for the three months ended March 31, 2024, consistent with the previous year[18] - The company has established an audit committee in compliance with GEM Listing Rules, consisting of two independent non-executive directors and one non-executive director[54] - The audit committee has reviewed the unaudited performance of the group for the three months ending March 31, 2024[54] - The board of directors comprises eight members, including three executive directors and three independent non-executive directors[56] Other Information - Other income, net of losses, was RMB 627,000, slightly up from RMB 567,000 in the previous year, indicating some stability in non-operating income[5] - The company has not recognized any tax expenses for the period due to a lack of taxable profits in Hong Kong[16] - No significant contracts were reported that would impact the group's business as of March 31, 2024[48] - There were no purchases, sales, or redemptions of the company's listed securities during the three months ending March 31, 2024[45]