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]

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 而產生或因倚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） 8286 （股份代號： ） 截至二零二三年三月三十一日止三個月的 第一季度業績公告 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。 本公告乃遵照聯交所GEM證券上市規則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 ...

Company Overview - 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[22]. - The principal activities of the Company include the design, research, development, manufacture, and sale of image transmission fibre optic products[127]. - The Group produces five main products, including fiber optic inverters and microchannel plates, primarily used in military low-light night vision devices[23]. - The Group's image transmission fiber optic products consist of over 10 million optical fibers[22]. - The Group's customers are mainly located in China, Russia, and other Asian countries[23]. Financial Performance - For the year ended December 31, 2022, the Group's sales were approximately RMB 15,535,000, representing a decrease of approximately 15.65% compared to RMB 18,417,000 in 2021[44]. - The Group's cost of sales for the year ended December 31, 2022, was approximately RMB 9,578,000, a decrease of approximately 36.56% from RMB 15,100,000 in the previous year[45]. - The gross profit margin for the Group increased to 38.35% in 2022, up from 18.01% in 2021, due to increased market prices and improved product quality[46]. - Other income, gains, and losses for the year ended December 31, 2022, totaled approximately RMB 35,481,000, a substantial increase of about RMB 32,627,000 compared to RMB 2,854,000 in 2021[50]. - Administrative and other operating expenses increased to approximately RMB 20,733,000 for the year ended December 31, 2022, up by approximately RMB 3,303,000 from RMB 17,430,000 in 2021[51]. - The Group recorded finance costs of approximately RMB 8,293,000 for the year ended December 31, 2022, a slight decrease of about RMB 113,000 from RMB 8,406,000 in 2021[52]. - The profit after tax for the year ended December 31, 2022, was approximately RMB 12,418,000, a significant recovery from a loss of RMB 40,457,000 in 2021[52]. Assets and Liabilities - As of December 31, 2022, the Group had net current liabilities of approximately RMB 140,403,000 and net liabilities of approximately RMB 97,926,000, indicating significant uncertainty regarding its ability to continue as a going concern[31]. - As of December 31, 2022, total assets increased by approximately RMB 2,143,000 to approximately RMB 150,648,000, representing an increase of about 1.4%[63]. - Total liabilities decreased by approximately RMB 14,351,000 to approximately RMB 248,574,000, a decrease of about 5.46% compared to RMB 262,925,000 at the end of the previous financial period[64]. - The gearing ratio as of December 31, 2022, was approximately 178%, down from 195% in 2021[69]. - As of December 31, 2022, the Group's total equity increased by approximately RMB 16,494,000 to about RMB 97,926,000, compared to approximately RMB 114,420,000 at the end of the previous fiscal period[76]. Government Support and Financial Measures - The Group received a subsidy of RMB20,000,000 from the Taiyuan City government for technology upgrades on December 26, 2018[25]. - The Group received a government subsidy of RMB 20,000,000 to support its industrial transformation and technology upgrade projects[28]. - The Group has implemented financial measures, including introducing new strategic investors and negotiating loan interest reductions, to improve its financial position[32]. - A revised loan agreement was entered into with a substantial shareholder, extending the term of an existing loan of RMB 14,600,000 to December 31, 2026, and delaying interest payments until 2026[35]. Impact of COVID-19 - Due to the COVID-19 pandemic, the Group had to suspend its technical upgrading and transformation projects but plans to restart these initiatives as appropriate[26]. - The COVID-19 pandemic has had a continuous impact on the Company's operations in 2022[17]. - The production and sales volume of the Group declined in 2022 due to the complex national epidemic situation, impacting overall performance[44]. Management and Governance - The management team is focused on improving operations, production, research & development, and market development capabilities to enhance corporate value and financial performance[17]. - The Company emphasizes the importance of compliance and governance through its various committees[102]. - The management team has a strong background in the optical and electronic technology sectors, enhancing the Company's strategic direction[106]. - The Company is focused on expanding its market presence and enhancing product development capabilities[108]. Employee and Board Information - The Group had approximately 353 full-time employees as of December 31, 2022, with remuneration based on experience, performance, and contribution[85]. - The directors of the Company are appointed for a term of three years, with re-election postponed due to the pandemic response[162]. - The supervisors of the Company are also appointed for a term of three years, with their re-election similarly postponed[166]. - The Company has a diverse board with members holding various degrees and extensive experience in finance and management[110]. Customer and Supplier Concentration - The largest customer accounted for approximately 28.61% of the Group's total turnover in 2022, up from 21% in 2021, while the five largest customers accounted for 90% of total turnover, an increase from 77% in 2021[147]. - The largest supplier accounted for approximately 30% of the Group's total purchases in 2022, down from 43% in 2021, while the five largest suppliers accounted for 62% of total purchases, a decrease from 96% in 2021[147]. Dividend and Share Capital - The Company did not recommend the payment of a final dividend for the year ended 31 December 2022, consistent with the previous year where no dividend was paid[129]. - As of 31 December 2022, the Company had reserves available for dividend distribution to shareholders amounting to RMB Nil, unchanged from 2021[139]. - There were no movements in the Company's issued share capital during the year ended 31 December 2022[142]. Miscellaneous - The Group had no contingent liabilities as of December 31, 2022[74]. - The Group's exposure to foreign currency risk is minimal, as most transactions are denominated in the functional currency[75]. - The Company aims to remove the disclaimer of opinion issued by auditors regarding the consolidated financial statements for the year ended December 31, 2022[86].

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。 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） 8286 （股份代號： ） 截至二零二二年十二月三十一日止年度之 全年業績公告 山西長城微光器材股份有限公司（「本公司」，連同其附屬公司統稱「本集團」）之董事（「董事」）會 （「董事會」）公佈本公司及其附屬公司截至二零二二年十二月三十一日止年度之經審核年度業績。 GEM GEM 本公告載有本公司二零二二年年報（「年報」）全文，符合聯交所 證券上市規則（「 上市規 GEM 則」）有關年度業績初步公告須隨附資料的相關規定。年報印刷版載有 上市規則規定的資料， GEM 將按照 上市規則規定的方式適時寄發予本公司股東。 承董事會命 山西長城微光器材股份有限公司 主席 吳波 中國山西省太原市，二零二三年五月十九日 ...

Financial Performance - For the three months ended September 30, 2022, the company's revenue was RMB 2,671,000, a decrease of 67.6% compared to RMB 8,252,000 for the same period in 2021[5]. - The gross profit for the nine months ended September 30, 2022, was RMB 310,000, down 86.9% from RMB 2,203,000 in the same period of 2021[5]. - Total sales to external customers for the nine months ended September 30, 2022, amounted to RMB 11,395,000, a decrease from RMB 14,199,000 in the same period of 2021, representing a decline of approximately 19.7%[23]. - Other income and gains for the nine months ended September 30, 2022, amounted to RMB 1,790,000, down from RMB 2,269,000 in the same period of 2021[5]. - The group recorded a net loss of approximately RMB 14,263,000 for the nine months ended September 30, 2022, compared to a net loss of RMB 14,471,000 in the same period last year[35]. Loss and Liabilities - The company reported a loss before tax of RMB 14,263,000 for the nine months ended September 30, 2022, compared to a loss of RMB 14,471,000 for the same period in 2021, indicating a slight improvement[5]. - The company's net current liabilities as of September 30, 2022, were approximately RMB 228,058,000, raising significant doubts about its ability to continue as a going concern[7]. - As of September 30, 2022, the group's net current liabilities and total liabilities were approximately RMB 228,058,000 and RMB 128,683,000, respectively, indicating substantial uncertainty regarding the company's ability to continue as a going concern[26]. - The group had other borrowings amounting to approximately RMB 84,916,000, all of which were current liabilities[38]. Financial Strategies - The company is actively seeking financial support from shareholders and lenders to improve its liquidity situation[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[26]. - The company has implemented measures including debt restructuring discussions with shareholders and lenders to address its financial challenges[7]. Operational Adjustments - The group has been affected by the ongoing COVID-19 pandemic, which has impacted sales and financial performance[30]. - The group is actively adjusting its operational strategies in response to the pandemic to ensure sustainable development[30]. - The management team is focused on enhancing production processes and technology upgrades while actively expanding into civilian markets to increase sales channels[25]. Shareholding Structure - As of September 30, 2022, Zhang Shaohui holds 82,200,000 shares of domestic stock, representing approximately 41.34% of the company's domestic shares and 26.61% of the total share capital[45]. - Beijing Zhongze Chuangye Investment Management Co., Ltd. also holds 82,200,000 shares of domestic stock, equivalent to approximately 41.34% of the domestic shares and 26.61% of the total share capital[45]. - Taiyuan Changcheng Optoelectronics Co., Ltd. holds 80,160,000 shares of domestic stock, accounting for approximately 40.31% of the domestic shares and 25.95% of the total share capital[45]. - Beijing Yuankang Technology Co., Ltd. holds 34,000,000 shares of domestic stock, which is about 17.10% of the domestic shares and 11.01% of the total share capital[45]. Corporate Governance - The company has established an audit committee to review and supervise its financial reporting system, risk management, and internal control systems[61]. - The audit committee consists of two independent non-executive directors and one non-executive director, with Mr. Xu Yongfeng serving as the chairman[61]. - The company has complied with the corporate governance code as per GEM listing rules, except for the lack of insurance arrangements for directors facing legal actions due to budget constraints[58]. - The board consists of eight directors, including three executive directors and three independent non-executive directors[62]. Miscellaneous - The company has no plans to declare dividends for the nine months ended September 30, 2022, and 2021[18]. - The company did not purchase, sell, or redeem any of its listed securities during the nine months ending September 30, 2022[53]. - There are no stock option plans in place for the group[54]. - No significant contracts were identified that would impact the group's business as of September 30, 2022[56]. - The report will be available on the Hong Kong Stock Exchange website for at least seven days from the publication date[62]. - The report will also be published on the company's website[62].

Financial Performance - The audited total revenue for the year 2021 was RMB 3,316.85 million, a decrease of RMB 0.15 million compared to the unaudited figure[10]. - The audited net profit for the year 2021 was a loss of RMB 40,456.36 million, which is a decrease of RMB 23,950.36 million from the unaudited net profit[10]. - The audited total assets decreased by RMB 23,870 million compared to the unaudited total assets, resulting in a net liability of RMB 114,420 million[4]. - The audited inventory decreased by RMB 4,945 million, including a provision for inventory write-down of RMB 4,000 million[5]. - The audited trade receivables decreased by RMB 6,271 million, with an increase in impairment provision of RMB 4,440 million[5]. - The audited administrative and other operating expenses increased by RMB 24,335.35 million, primarily due to inventory write-down provisions[11]. - The audited total liabilities increased by RMB 8,505 million compared to the unaudited total liabilities[4]. - The audited other income increased by RMB 35.36 million, mainly from rental income of RMB 23 million and government grants of RMB 12 million[11]. Impairment Provisions - The company recognized fixed asset impairment provisions amounting to RMB 5,210,000[16]. - The company recognized accounts receivable impairment provisions amounting to RMB 4,440,000[16]. - The company recognized other receivables impairment provisions amounting to RMB 5,000,000[16]. - The company recognized potential litigation costs amounting to RMB 5,120,000[16]. - The company recognized audit fee provisions amounting to RMB 528,000[16]. Trading Status - The company’s shares have been suspended from trading since June 13, 2022, until further notice[15].

Financial Performance - For the six months ended June 30, 2022, the company reported revenue of RMB 4,748,000, a decrease of 20.1% compared to RMB 5,947,000 for the same period in 2021[3] - The gross profit for the six months ended June 30, 2022, was a loss of RMB 604,000, compared to a profit of RMB 906,000 in the same period of 2021, indicating a significant decline in profitability[3] - The company incurred a loss before tax of RMB 10,128,000 for the six months ended June 30, 2022, compared to a loss of RMB 9,854,000 for the same period in 2021, reflecting a 2.8% increase in losses year-over-year[3] - The basic and diluted loss per share for the six months ended June 30, 2022, was RMB 0.033, slightly higher than RMB 0.032 for the same period in 2021[5] - The group reported a revenue of RMB (4,748,000) for the six months ended June 30, 2022, compared to RMB 5,947,000 for the same period in 2021, reflecting a decline in sales[22] - The main product, fiber optic image intensifiers, generated a revenue of RMB (2,749,000), accounting for 58% of total revenue in the first half of 2022, down from 59% in the same period of 2021[30] - Revenue from external customers in China decreased to RMB (8,460) thousand in the first half of 2022, compared to RMB 4,630 thousand in the same period of 2021, representing a decline of approximately 282.5%[33] - Basic loss per share was approximately RMB 10,128 thousand for the first half of 2022, compared to RMB 9,854 thousand in the same period of 2021, indicating an increase in loss[40] Cash Flow and Financial Position - Cash and cash equivalents increased to RMB 974,000 as of June 30, 2022, from RMB 399,000 at the beginning of the period, showing a positive cash flow trend[13] - The company's total liabilities as of June 30, 2022, were RMB 258,167,000, an increase from RMB 240,776,000 as of December 31, 2021, indicating rising financial obligations[7] - The company reported a net cash outflow from financing activities of RMB 44,000 for the six months ended June 30, 2022, compared to an outflow of RMB 3,396,000 in the same period of 2021, indicating reduced financing needs[13] - The company's total assets less current liabilities amounted to a negative RMB 103,524,000 as of June 30, 2022, compared to a negative RMB 92,271,000 at the end of 2021, reflecting worsening financial health[7] - As of June 30, 2022, the company's total assets increased by approximately RMB 6,138,000 to about RMB 154,643,000, representing a 4% increase compared to the previous fiscal period[66] - The company's total liabilities increased by approximately RMB 16,266,000 to about RMB 279,191,000, reflecting a 6% increase compared to the previous fiscal period[66] - The company's equity decreased by approximately RMB 10,128,000 to about negative RMB 124,548,000 as of June 30, 2022[66] - The company's debt-to-asset ratio was approximately 181% as of June 30, 2022, compared to 177% on December 31, 2021[67] Inventory and Receivables - Inventory levels rose significantly to RMB 20,417,000 as of June 30, 2022, compared to RMB 10,455,000 at the end of 2021, suggesting potential overstocking issues[7] - Trade receivables decreased to RMB 16,931 thousand as of June 30, 2022, down from RMB 19,987 thousand at the end of 2021, a decline of approximately 15.4%[44] Operational Measures and Strategies - The group has taken measures to improve liquidity, including negotiating debt restructuring and seeking financial support from shareholders and lenders[16] - 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[54] - The company aims to enhance operational efficiency by leasing out underutilized properties and developing new products to extend its market reach[54] Shareholder and Governance Information - Major shareholders included Zhang Shaohui with a 41.34% stake and Beijing Zhongze Venture Capital Management Co., Ltd. also holding 41.34%[79] - The board of directors consists of nine members, including four executive directors and three independent non-executive directors[96] - The Audit Committee has been established to review and supervise the financial reporting system, risk management, and internal control systems[90] - The company has complied with the corporate governance code as per GEM listing rules, with some exceptions noted[93] Compliance and Reporting - The group has adopted all new and revised Hong Kong Financial Reporting Standards effective from January 1, 2022, with no significant impact on the financial statements[19] - The group’s financial statements are prepared in accordance with Hong Kong Accounting Standards and GEM Listing Rules, ensuring compliance with applicable disclosure requirements[18] - A standard code of conduct for securities trading has been adopted, with no known violations reported during the six-month period ending June 30, 2022[94]