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]

Financial Performance - For the year ended 31 December 2023, the Group's revenue was approximately RMB 26,717,000, representing an increase of approximately 71.98% compared to RMB 15,535,000 in 2022[42][46]. - The cost of sales for the year ended 31 December 2023 was approximately RMB 14,333,000, an increase of approximately 49.65% from RMB 9,578,000 in the previous year[44][46]. - The gross profit margin for the Group improved to 46.35% in 2023, up from 38.35% in 2022, due to increased market prices and improved product quality[45][46]. - For the year ended 31 December 2023, the Group recorded other income, gains, and losses of approximately RMB8,401,000, a significant decrease of approximately RMB27,080,000 compared to RMB35,481,000 in 2022[48]. - Administrative and other operating expenses for the year ended 31 December 2023 were approximately RMB23,802,000, representing an increase of approximately RMB106,000 from RMB23,696,000 in 2022[49]. - Finance costs increased to approximately RMB8,932,000 for the year ended 31 December 2023, up approximately RMB639,000 from RMB8,293,000 in 2022[50]. - The Group reported a loss after tax of approximately RMB10,375,000 for the year ended 31 December 2023, compared to a profit of RMB7,207,000 in 2022[50]. - As at 31 December 2023, total assets increased by approximately RMB21,022,000 to approximately RMB171,670,000, representing an increase of approximately 13.95% compared to RMB150,648,000 at the end of the previous financial period[60]. - Total liabilities increased by approximately RMB31,397,000 to approximately RMB279,971,000, representing an increase of approximately 12.63% compared to RMB248,574,000 at the end of the previous financial period[61]. - The gearing ratio as at 31 December 2023 was approximately 173%, a decrease from 178% in 2022[66]. Operational Developments - The Group's production and sales significantly increased in 2023, despite a challenging operating environment[18]. - The Group produces five main products, including fiber optic inverters and microchannel plates, primarily used in military applications[24]. - The Group's image transmission fiber optic products consist of over 10 million optical fibers, facilitating high-quality image transmission[23]. - The Group's production and sales volume increased significantly in 2023, contributing to the overall revenue growth despite some orders being postponed[42][43]. - The Group plans to restart its refinancing initiatives and technical upgrading projects that were previously suspended due to the COVID-19 pandemic[27]. - The Group is focusing on developing new products to extend the downstream of the industrial chain and strengthen existing sales forces[33][34]. - The Group aims to revitalize long-term assets by leasing out unused properties to increase property income[33][34]. Financial Position and Strategy - As of 31 December 2023, the Group had net current liabilities of approximately RMB 153,328,000 and net liabilities of approximately RMB 108,301,000, raising concerns about its ability to continue as a going concern[32][34]. - The Group plans to introduce new strategic investors through a private placement of new shares/bonds to improve its financial position[33][34]. - The Group has entered into revised loan agreements to extend the term of existing loans totaling RMB 14,600,000 to 31 December 2026, with interest payments delayed until 2026[36][39]. - The Group's outstanding bank borrowing as of 31 December 2023 was RMB 6,020,000[38][39]. - The Company plans to raise funds through private placement to optimize its capital structure and implement a technical transformation program[82]. - Management is preparing fundraising plans, including equity financing and debt restructuring, to ensure rapid recovery of operations[85]. - The Company believes that financial performance will show further improvement in the foreseeable future based on proposed strategic measures[82]. - The impact of the epidemic is gradually diminishing in 2023, prompting the Company to consider measures to improve its financial condition[82]. - The management will continue to strengthen financial and operational measures to ensure rapid recovery[85]. - The Company has reasons to believe that its financial performance will improve due to the implementation of strategic measures[82]. - The Company is actively promoting the implementation of its technical transformation program[82]. - The management is focused on optimizing the capital structure through a two-pronged approach[82]. Shareholder and Governance Information - As of December 31, 2023, the company has a substantial shareholder, Zhang Shao Hui, holding 82,200,000 domestic shares, representing approximately 41.34% of the total share capital[177]. - Taiyuan Changcheng Optics Electronics Industrial Company Limited holds 80,160,000 domestic shares, accounting for approximately 40.31% of the total share capital[177]. - The company’s directors and supervisors have no interests or short positions in the shares or debentures of the company as of December 31, 2023[174]. - The board of directors and supervisors are subject to a three-year term, with reappointment required at the end of each term[161][162]. - The company has not disclosed any service contracts for directors and supervisors that cannot be terminated within one year without compensation, other than statutory compensation[167]. - The company’s board and supervisory committee elections have been postponed to ensure continuity of governance[161][162]. - As of December 31, 2023, the company’s directors and supervisors have interests in the shares and debentures as recorded in the required register[168]. - The five highest-paid individuals' remuneration details are included in the consolidated financial statements[166]. - The company is committed to complying with the GEM Listing Rules and relevant legal regulations regarding the disclosure of interests and positions[174]. Dividend and Reserves - For the year ended December 31, 2023, the board of directors does not recommend the payment of a final dividend, consistent with the previous year[126]. - As of December 31, 2023, the Company had reserves amounting to RMB Nil available for dividend distribution to shareholders, unchanged from 2022[129]. - The reserves of the Group remained unchanged at RMB Nil as of December 31, 2023[129]. - The Company did not recommend the payment of a final dividend for the year ended December 31, 2023, consistent with 2022[133]. Customer and Supplier Information - For the year ended December 31, 2023, the Group's largest customer accounted for approximately 44% of total turnover, up from 28% in 2022[142]. - The five largest customers accounted for approximately 92% of total turnover, compared to 90% in 2022[142]. - The Group's largest supplier accounted for approximately 25% of total purchases, down from 30% in 2022[142]. - The five largest suppliers accounted for approximately 51% of total purchases, down from 62% in 2022[142]. Audit and Compliance - The auditors issued a disclaimer of opinion regarding the consolidated financial statements for the year ended December 31, 2023[82]. - The annual report includes audited consolidated financial statements for the year ended December 31, 2023[123]. - The financial summary for the past five years is provided in the annual report[127]. - The business review and financial review for the year ended December 31, 2023, are included in the "Management Discussion and Analysis" section[128].

Financial Performance - For the year ended 31 December 2023, the Group's revenue was approximately RMB26,717,000, representing an increase of approximately 71.98% compared to RMB15,535,000 in 2022[46]. - The cost of sales for the year ended 31 December 2023 was approximately RMB14,333,000, an increase of approximately 49.65% from RMB9,578,000 in 2022[48]. - The gross profit margin for the Group improved to 46.35% in 2023, up from 38.35% in 2022, due to increased market prices and improved product quality[49]. - Other income, gains, and losses decreased significantly to approximately RMB8,401,000 in 2023 from RMB35,481,000 in 2022, a decrease of approximately RMB27,080,000[52]. - Administrative and other operating expenses slightly increased to approximately RMB23,802,000 in 2023 from RMB23,696,000 in 2022[53]. - The Group recorded a loss after tax of approximately RMB10,375,000 in 2023, compared to a profit of RMB7,207,000 in 2022[54]. - Total assets increased by approximately RMB21,022,000 to approximately RMB171,670,000, representing an increase of approximately 13.95%[64]. - Total liabilities increased by approximately RMB31,397,000 to approximately RMB279,971,000, representing an increase of approximately 12.63%[65]. - The gearing ratio as of 31 December 2023 was approximately 173%, a slight improvement from 178% in 2022[70]. - As of December 31, 2023, the Group's total equity deficit decreased by approximately RMB 10,375,000 to about RMB 108,301,000, compared to approximately RMB 97,926,000 at the end of the previous fiscal period[76]. Operational Strategy - The Group's production and sales have significantly increased in 2023, reflecting efforts to develop core businesses and improve efficiency[22]. - The Board aims to reduce operating costs and enhance product quality to restore profit growth[22]. - The Company is focused on improving operations, production, research & development, and market development capabilities to enhance corporate value and financial performance[22]. - The Group plans to revitalize long-term assets and lease out temporarily unused properties to increase property income[37][38]. - The Group aims to develop new products to extend the downstream of the industrial chain and strengthen existing sales forces[37][38]. - The Group's refinancing initiatives and technical upgrading projects will be restarted as appropriate after being delayed due to the COVID-19 pandemic[31][33]. - The management plans to implement financial and operational measures to ensure rapid recovery of the Group's operations[89]. Government Support and Financial Assistance - The Group received a subsidy of RMB20,000,000 from the Taiyuan City government to support its industrial transformation and technological upgrade project[30][33]. - Financial assistance from Taiyuan Changcheng amounted to approximately RMB 22,100,000 as of December 31, 2023, an increase from RMB 20,335,000 in 2022[156]. - Financial assistance from Beijing Gensir was approximately RMB 1,313,000 as of December 31, 2023, up from RMB 549,000 in 2022[157]. - Total interest charged by Taiyuan Changcheng was approximately RMB 1,465,000 in 2023, compared to RMB 1,298,000 in 2022[158]. Management and Governance - The management team expresses gratitude to employees for their contributions and to shareholders for their support[23]. - The company has a strong management team with members holding significant qualifications, including certified public accountants and finance managers[106][109]. - The company has been focusing on research and development, with Mr. Dong Yonghong serving as the project manager of the R&D center since February 2006[119]. - The company is actively expanding its market presence, leveraging the expertise of its directors and senior management in various sectors[110]. - The board of directors includes independent non-executive directors who contribute to the audit and remuneration committees, ensuring governance and compliance[106][109]. - The Company continues to perform duties under relevant laws and regulations until the completion of the re-election process[162]. Employee and Labor Relations - The Group had approximately 320 full-time employees as of December 31, 2023[85]. - The company has a commitment to employee welfare, with Ms. Han Xiaoou serving as the chairman of the labor union[115]. - The Group reported employer's pension scheme contributions of approximately RMB 4,510,000 in 2023, compared to RMB 5,072,000 in 2022[145]. Customer and Supplier Concentration - The Group's largest customer accounted for approximately 44% of total turnover in 2023, up from 28% in 2022[146]. - The five largest customers accounted for approximately 92% of total turnover in 2023, compared to 90% in 2022[146]. - The Group's largest supplier accounted for approximately 25% of total purchases in 2023, down from 30% in 2022[146]. - The five largest suppliers accounted for approximately 51% of total purchases in 2023, down from 62% in 2022[146]. Shareholder Information - The Company does not recommend the payment of a final dividend for the year ended December 31, 2023, consistent with 2022[130]. - As of December 31, 2023, the Company had reserves available for dividend distribution amounting to RMB Nil, unchanged from 2022[133]. - The directors of the Company are appointed for a term of three years, with re-election postponed to maintain continuity due to the incomplete nomination process[162]. - The supervisors of the Company are also appointed for a term of three years, with their re-election postponed for the same reason as the directors[163]. Audit and Compliance - The auditors issued a disclaimer of opinion regarding the audit of the consolidated financial statements for the year ended December 31, 2023[86]. - The Company has not disclosed any service contracts for directors and supervisors that cannot be terminated within one year without compensation, other than statutory compensation[171]. - No significant contracts related to the Group's business existed during the year ended December 31, 2023, involving directors or supervisors with material interests[195]. - The directors believe that there were no competing business interests among directors, supervisors, and management shareholders during the year ended December 31, 2023[197].

Financial Performance - For the three months ended September 30, 2023, the company reported revenue of RMB 9,387,000, a significant increase from RMB 2,671,000 in the same period of 2022, representing a growth of 251%[4] - The gross profit for the nine months ended September 30, 2023, was RMB 13,346,000, compared to RMB 310,000 for the same period in 2022, indicating a substantial increase in profitability[4] - The total comprehensive income for the nine months ended September 30, 2023, was RMB 1,342,000, a significant recovery from a loss of RMB 14,263,000 in the same period of 2022[4] - For the nine months ended September 30, 2023, the group recorded a profit after tax of approximately RMB 1,342,000 for the nine months ended September 30, 2023, compared to a loss of approximately RMB 14,263,000 for the same period last year[32] - Other income, gains, and losses for the nine months ended September 30, 2023, amounted to approximately RMB 6,253,000, an increase of approximately RMB 4,463,000 compared to RMB 1,790,000 for the same period last year[29] Losses and Improvements - The company incurred a loss before tax of RMB 1,982,000 for the three months ended September 30, 2023, an improvement from a loss of RMB 4,135,000 in the same period of 2022[4] - For the nine months ended September 30, 2023, the company reported a loss attributable to owners of approximately RMB 1,982,000 and a profit of approximately RMB 1,342,000 for the same period in 2022, compared to losses of RMB 4,135,000 and RMB 14,263,000 respectively[15][18] Revenue Sources - Total sales to external customers for the nine months ended September 30, 2023, amounted to RMB 31,374,000, a significant increase from RMB 11,395,000 in the same period of 2022, representing a growth of approximately 175%[22] - The main product categories and their contributions to total revenue for the nine months ended September 30, 2023, included: Fiber Optic Inverter (66%), Microchannel Plate (28%), and others, with Fiber Optic Inverter sales increasing from RMB 6,794,000 (60%) in 2022 to RMB 20,808,000 in 2023[22] Financial Management - The company's financial expenses for the nine months ended September 30, 2023, totaled RMB 5,101,000, down from RMB 6,238,000 in the same period of 2022, reflecting improved cost management[12] - The group had outstanding other borrowings of approximately RMB 61,640,000 as of September 30, 2023[36] - The group received financial assistance from related parties, with amounts payable to Taiyuan Changcheng and Beijing Zhongze totaling approximately RMB 21,303,000 and RMB 1,507,000, respectively, as of September 30, 2023[33] Liquidity and Going Concern - The net current liabilities of the group as of September 30, 2023, were approximately RMB 137,013,000, indicating potential liquidity challenges[6] - As of September 30, 2023, the company's net current liabilities and total liabilities were approximately RMB 137,013,000 and RMB 96,584,000 respectively, indicating significant uncertainty regarding the company's ability to continue as a going concern[24] - The company is actively pursuing measures to improve its liquidity, including debt restructuring and seeking financial support from shareholders and lenders[6] Strategic Initiatives - The company plans to enhance its financial situation by leasing idle assets, developing new products, and strengthening sales capabilities, while also exploring strategic investments and debt restructuring[24][25] - The company aims to leverage its technological advantages in military products to expand into civilian markets, thereby increasing new customer bases and revenue sources[24] Corporate Governance - The company has established an audit committee to review and supervise its financial reporting system, risk management, and internal control systems[59] - The board consists of eight directors, including three executive directors and three independent non-executive directors[60] Shareholder Information - As of September 30, 2023, the company has a total of 34,000,000 domestic shares held by Jia Yaotian, representing approximately 17.10% of domestic shares and 11.01% of total share capital[47] - Beijing Zhongze holds approximately 36.37% of the 24,900,000 domestic shares registered under Taiyuan Tanghai, with Zhang Shaohui deemed to have control over these shares[48] Other Information - The company has not made any provisions for Hong Kong profits tax as it did not generate any taxable profits in Hong Kong for the nine months ended September 30, 2023[13] - The company has not issued any potential dilutive ordinary shares as of September 30, 2023[16] - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending September 30, 2023[51] - There are no stock option plans in place for the group[52] - The board of directors believes there are no significant contracts that could impact the group's business as of September 30, 2023[54] - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, which did not result in significant changes to its accounting policies[9]

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） 截至二零二三年九月三十日止九個月的 第三季度業績公告 GEM 香港聯合交易所有限公司（「聯交所」） 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 ...

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 21,987 thousand, compared to a loss of RMB 4,748 thousand in the same period of 2022, representing a significant increase [5]. - Gross profit for the six months ended June 30, 2023, was RMB 9,403 thousand, compared to a gross loss of RMB 604 thousand in the same period of 2022, indicating a turnaround in profitability [5]. - The company reported a profit before tax of RMB 3,324 thousand for the six months ended June 30, 2023, compared to a loss of RMB 10,128 thousand in the same period of 2022, reflecting improved operational performance [5]. - The basic and diluted earnings per share for the six months ended June 30, 2023, were RMB 0.011, compared to a loss per share of RMB 0.033 in the same period of 2022, indicating improved earnings capacity [7]. - Basic earnings attributable to the company's owners for the six months ended June 30, 2023, were approximately RMB 3,324,000, compared to a loss of RMB 10,128,000 in the same period of 2022 [41]. - Total revenue from external customers for the six months ended June 30, 2023, was RMB 21,987,000, compared to a loss of RMB 4,748,000 in the same period of 2022 [31]. - The group recorded a net profit after tax of approximately RMB 3,324,000 for the six months ended June 30, 2023, compared to a net loss of RMB -10,128,000 for the same period last year [64]. Assets and Liabilities - Total assets as of June 30, 2023, were RMB 157,591 thousand, compared to RMB 150,651 thousand as of December 31, 2022, showing growth in asset base [9]. - Current liabilities increased to RMB 171,117 thousand as of June 30, 2023, from RMB 166,677 thousand as of December 31, 2022, indicating a rise in short-term obligations [9]. - The company’s total equity attributable to owners decreased to RMB (94,474) thousand as of June 30, 2023, from RMB (97,798) thousand as of December 31, 2022, reflecting ongoing challenges in maintaining equity levels [10]. - The total liabilities of the group increased by approximately RMB 3,619,000 to about RMB 252,193,000 as of June 30, 2023, reflecting a 1% increase compared to the previous fiscal period [70]. - The company has outstanding bank and other borrowings amounting to approximately RMB 66,124,000 as of June 30, 2023, raising concerns about its ability to continue as a going concern [17]. - The company’s current liabilities net amount to approximately RMB 135,823,000 as of June 30, 2023, highlighting potential liquidity challenges [17]. Cash Flow and Liquidity - The company reported a net cash flow from operating activities of RMB (1,032,000) compared to RMB 619,000 for the same period in 2022, indicating a significant decline [14]. - The company’s cash and cash equivalents decreased to RMB 316 thousand as of June 30, 2023, from RMB 405 thousand as of December 31, 2022, suggesting a tightening liquidity position [9]. - The cash and cash equivalents decreased to RMB 316,000 as of June 30, 2023, down from RMB 974,000 at the beginning of the year [14]. - The company reported a net cash flow from financing activities of RMB 1,060,000 for the six months ended June 30, 2023, compared to a negative cash flow of RMB (44,000) in the same period of 2022 [14]. - The company reported a net cash flow used in investing activities of RMB (116,000) for the six months ended June 30, 2023, indicating limited investment activity [14]. - The company is actively implementing measures to improve its liquidity, including debt restructuring and seeking financial support from shareholders and lenders [17]. Inventory and Receivables - Inventory decreased to RMB 6,668 thousand as of June 30, 2023, from RMB 10,148 thousand as of December 31, 2022, reflecting better inventory management [9]. - Trade receivables increased to RMB 33,781,000 as of June 30, 2023, from RMB 21,208,000 at the end of 2022 [45]. Revenue Sources - The total revenue from fiber optic product manufacturing and sales for the six months ended June 30, 2023, was RMB 21,987,000, a recovery from a loss of RMB (4,748,000) in the same period of 2022 [23]. - The major products contributing to revenue include fiber optic image converters (RMB 15,533,000) and microchannel plates (RMB 5,630,000) for the six months ended June 30, 2023 [25]. - Revenue from Europe and Russia increased significantly to RMB 10,388,000, compared to RMB 3,682,000 in 2022 [34]. - Major customer A contributed RMB 9,832,000 in revenue, up from RMB 2,208,000 in the previous year [35]. - Other income included government grants of approximately RMB 1,125,000 and proceeds from the sale of idle assets amounting to RMB 4,473,000 [37]. - The main product, fiber optic image inverter, generated RMB 15,533,000 in revenue, accounting for 71% of total revenue, an increase from 58% in 2022 [31]. Corporate Governance and Structure - The company has complied with the corporate governance code as per GEM listing rules, with some exceptions noted [97]. - The audit committee, consisting of two independent non-executive directors and one non-executive director, has reviewed the unaudited results for the six months ending June 30, 2023 [94]. - The board of directors consists of eight members, including three executive directors and three independent non-executive directors [100]. - The company has adopted a set of standard codes for securities trading by directors, in compliance with GEM listing rules [98]. - No competitive interests were reported among directors, supervisors, and management shareholders as of June 30, 2023 [93]. - The company has not established any insurance arrangements for directors facing legal actions due to budget constraints [97]. Shareholder Information - Major shareholders included Zhang Shaohui, holding 82,200,000 shares (41.34% of domestic shares), and Taiyuan Changcheng Optoelectronics Co., Ltd., holding 80,160,000 shares (40.31% of domestic shares) [83]. - The company did not recommend any dividend for the six months ended June 30, 2023, consistent with the previous year [43]. - The company did not purchase, sell, or redeem any of its listed securities during the six-month period ending June 30, 2023 [88]. - No stock option plan exists for the group as of June 30, 2023 [89]. - No rights to purchase H-shares were granted to directors or supervisors during the six-month period ending June 30, 2023 [90]. - The company has no significant contracts that directors or supervisors have a substantial interest in as of June 30, 2023 [92]. Future Plans and Strategies - The group plans to activate idle assets by leasing out properties that are currently not in use to increase property income [55]. - The group aims to extend its product offerings into the civilian market leveraging its technological advantages accumulated in the military sector [55]. - The group has restructured loans with major shareholders, extending the principal amount of RMB 14,600,000 until December 31, 2026, and deferring interest payments until 2026 [57]. - The group received financial support from major shareholders, with outstanding amounts payable to Taiyuan Changcheng and Beijing Zhongze totaling approximately RMB 21,128,000 and RMB 1,114,000, respectively, as of June 30, 2023 [66]. - The group has renewed bank borrowings of RMB 6,020,000, extending the loan term to June 30, 2024 [67]. Risk Management - The company faced minimal foreign exchange risk as its business transactions, assets, and liabilities are primarily denominated in its functional currency [77]. - As of June 30, 2023, the company's debt-to-asset ratio was approximately 160%, a decrease from 165% as of December 31, 2022 [71]. - The company reported no significant investments in joint ventures, with a book value of approximately RMB 0 as of June 30, 2023 [72]. - There were no acquisitions or disposals of subsidiaries during the six-month period ending June 30, 2023 [73]. - As of June 30, 2023, the company had approximately RMB 42,264,000 in pledged assets for bank borrowings, down from RMB 42,929,000 as of December 31, 2022 [75]. Employment and Workforce - The company employed approximately 330 full-time employees as of June 30, 2023, with compensation based on experience, performance, and contribution [78]. Reporting and Availability - The report will be available on the Hong Kong Stock Exchange website for at least seven days from the publication date [100].

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） 截至二零二三年六月三十日止六個月的 中期業績公告 GEM 香港聯合交易所有限公司（「聯交所」） 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 ...

Financial Performance - For the three months ended March 31, 2023, the company's revenue was RMB 10,053,000, compared to RMB 7,383,000 for the same period in 2022, representing an increase of approximately 36%[3] - The cost of sales for the same period was RMB 5,809,000, compared to RMB 5,405,000 in 2022, indicating an increase of about 7.4%[3] - The gross profit for the three months ended March 31, 2023, was RMB 4,244,000, compared to a gross loss of RMB 1,978,000 in 2022, showing a significant turnaround[3] - The company reported a loss before tax of RMB 302,000 for the first quarter of 2023, a substantial improvement from a loss of RMB 7,122,000 in the same period of 2022, reflecting a decrease in losses of approximately 95.8%[3] - Basic and diluted loss per share for the three months ended March 31, 2023, was RMB 0.001, compared to RMB 0.023 for the same period in 2022, indicating a significant reduction in loss per share[14] - The company reported a net loss of approximately RMB 302,000 for the three months ended March 31, 2023, significantly improved from a loss of RMB 7,122,000 in the same period of 2022[28] Current Liabilities and Going Concern - The company's net current liabilities as of March 31, 2023, were approximately RMB 139,426,000, raising concerns about its ability to continue as a going concern[6] - As of March 31, 2023, the company's current liabilities net amount was approximately RMB 139,426,000, and the net liabilities amounted to approximately RMB 98,228,000, indicating significant uncertainty regarding the company's ability to continue as a going concern[19] - The financial statements were prepared under the assumption of going concern, pending the success of liquidity improvement measures[6] Liquidity Improvement Measures - The company has implemented measures to improve its liquidity, including debt restructuring and seeking financial support from major shareholders and lenders[6] - 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[21] Sales and Product Development - For the three months ended March 31, 2023, the company's sales amounted to approximately RMB 10,053,000, an increase of approximately RMB 17,436,000 compared to the same period in 2022, which recorded a loss of RMB 7,383,000[24] - The sales breakdown for the three months ended March 31, 2023, shows that the fiber optic image inverter accounted for 68% of total sales, generating RMB 6,907,000, compared to 71% and RMB 3,633,000 in the same period of 2022[26] - The company aims to enhance its product offerings by developing new products and extending its reach into the civilian market, leveraging its technological advantages in military applications[21] Expenses and Financial Assistance - The company's administrative and other operating expenses for the three months ended March 31, 2023, were approximately RMB 4,030,000, up from RMB 3,457,000 in the same period of 2022, reflecting an increase of approximately RMB 573,000[27] - The financial expenses recorded for the three months ended March 31, 2023, were approximately RMB 861,000, a decrease from RMB 2,067,000 in the same period of 2022[28] - As of March 31, 2023, the company owed approximately RMB 20,693,000 to Taiyuan Changcheng, a major shareholder, indicating reliance on financial support from related parties[29] - Financial assistance provided to related parties includes receivables from a shareholder totaling RMB 593,000, which has been fully impaired[33] Borrowings and Collateral - As of March 31, 2023, the group has outstanding bank borrowings amounting to RMB 10,580,000, with the loan term extended to June 30, 2023[31] - The group has approximately RMB 58,322,000 in other borrowings outstanding as of March 31, 2023[32] - The group has pledged assets, including properties and machinery valued at approximately RMB 42,602,000, as collateral for bank borrowings[34] Shareholding and Governance - Major shareholders include Zhang Shaohui, holding 82,200,000 shares (41.34%) of domestic shares, and Taiyuan Changcheng Optoelectronics Co., Ltd., holding 80,160,000 shares (40.31%) of domestic shares[39] - The company has a total of 34,000,000 shares (17.10%) of domestic shares held by Beijing Yuankang Technology Co., Ltd.[39] - As of March 31, 2023, the company has no other known interests or positions held by directors or supervisors in the company or its affiliates[41] - The board believes there are no competitive interests among directors, supervisors, or management shareholders[47] - The company has established an audit committee to review and supervise its financial reporting system and risk management[51] Dividends and Securities - No dividends were proposed for the three months ended March 31, 2023, consistent with the previous year[15] - No share buyback, purchase, or redemption of listed securities occurred during the three months ended March 31, 2023[43] - The company has no share option scheme in place[44] - No significant contracts were identified that could impact the group's business as of March 31, 2023[46] - The company adopted all new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, with no significant impact on its financial statements[9]