Financial Performance - For the year ended December 31, 2023, the total revenue was RMB 117,446,000, a decrease of 33.73% compared to RMB 177,132,000 for the previous year[6] - The gross profit for the year was RMB 5,862,000, representing a gross margin of 5.00%[6] - The operating loss for the year was RMB 17,328,000, improved from an operating loss of RMB 36,256,000 in the previous year[6] - The net loss attributable to owners of the company was RMB 16,918,000, compared to RMB 36,454,000 in the previous year, indicating a significant reduction in losses[6] - The basic loss per share for the year was RMB 14.10, improved from RMB 31.82 in the previous year[6] - Revenue from external customers for the year ended December 31, 2023, was RMB 117,446,000, a decrease of 33.8% from RMB 177,132,000 in 2022[44] - The operating loss for the year ended December 31, 2023, was RMB 17,328,000, compared to an operating loss of RMB 36,256,000 in 2022, representing a 52.2% improvement[44] - The net loss for the year ended December 31, 2023, was RMB 16,918,000, down from RMB 36,454,000 in 2022, indicating a 53.6% reduction in losses[44] - The group reported a pre-tax loss of RMB 16,918,000 for the year ended December 31, 2023, compared to a loss of RMB 36,454,000 in 2022, indicating a 53.6% improvement year-over-year[57] Assets and Liabilities - Total assets as of December 31, 2023, were RMB 105,348,000, compared to RMB 129,195,000 in the previous year[8] - The total liabilities decreased to RMB 103,395,000 from RMB 110,480,000 in the previous year, indicating a reduction in financial obligations[8] - Cash and bank balances increased to RMB 12,439,000 from RMB 4,251,000, showing improved liquidity[8] - The company reported a net asset value of RMB 3,575,000, down from RMB 20,493,000 in the previous year[9] - Trade receivables decreased to RMB 53,582,000 in 2023 from RMB 64,912,000 in 2022, reflecting a reduction of approximately 17.5%[60] - The net amount of trade receivables after expected credit loss provisions was RMB 37,460,000, down from RMB 49,157,000 in the previous year, a decline of about 23.8%[60] - The total liabilities, including trade payables and accrued expenses, amounted to RMB 75,589 thousand in 2023, down from RMB 90,017 thousand in 2022, a decrease of about 16.0%[62] Revenue Breakdown - Revenue from exhibition and event-related services was RMB 101.52 million, accounting for 86.44% of total revenue, reflecting a decrease of approximately 1.29% from RMB 102.84 million in the previous year[81] - Revenue from advertising-related services dropped significantly to approximately RMB 10.05 million, a decrease of about 85.10% from RMB 67.41 million in the previous year[82] - Major customer A contributed RMB 25,243,000 to revenue in 2023, down 50.3% from RMB 50,743,000 in 2022[47] - Major customer B contributed RMB 12,283,000 in 2023, which was not present in 2022, indicating new customer acquisition[47] Expenses and Costs - Employee benefits expenses, including directors' remuneration, increased to RMB 13,439,000 in 2023 from RMB 9,634,000 in 2022, representing an increase of approximately 39.0%[57] - The total depreciation of property and equipment was RMB 82,000 in 2023, significantly lower than RMB 1,086,000 in 2022, indicating a decrease of about 92.4%[55] - Sales expenses rose to approximately RMB 8.94 million, an increase of about 13.94% or RMB 1.09 million compared to the previous year[86] - Administrative expenses increased to approximately RMB 12.64 million, up about 7.72% or RMB 0.91 million year-over-year[87] - Service costs decreased from approximately RMB 171.75 million to about RMB 111.58 million, a reduction of approximately 35.03% or RMB 60.17 million[83] Strategic Focus and Future Plans - The company plans to focus on market expansion and new product development to drive future growth[5] - The company aims to shift its focus from advertising services to exhibition and exhibition hall businesses to better align with post-pandemic market demands[80] - The group aims to expand its non-automotive business to reduce risk and promote business diversification[129] - The group has developed a strategic plan to diversify its customer base across high-growth industries and accelerate digital transformation through strategic technology investments[130] Compliance and Governance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and comply with the applicable disclosure requirements of the GEM Listing Rules[13] - The audit committee was established on May 16, 2018, in compliance with GEM Listing Rules, consisting of three independent non-executive directors[143] - The audit committee reviewed the annual audited consolidated financial statements and confirmed that the preparation of the annual results complied with applicable accounting standards and regulations[143] Market Conditions and Economic Outlook - The macroeconomic recovery in China is expected to continue driving demand in various sectors, including entertainment, travel, and sports[67] - The group expects a moderate global economic growth of about 3% in 2024, with domestic consumption in China contributing over 80% to the GDP growth of 5.2% in 2023[126] - The latest data shows that the service sector in China continues to grow, albeit at a slower pace, with the composite PMI index slightly declining from 52.7 to 52.5[127] Risks and Challenges - The company faces significant risks due to low entry barriers in the exhibition services industry and intense competition[109] - The majority of the company's clients are in the automotive sector, which poses a risk to expanding the customer base[109] - Future expansion into new market segments may exert significant pressure on resource allocation[114] - The company cannot guarantee sufficient resources to support future development, which may be affected by customer preferences and overall market conditions[114]

Financial Performance - For the nine months ended September 30, 2023, the company managed and coordinated 90 exhibition and event projects, generating revenue of approximately RMB 732 million, a decrease of RMB 27.61 million or about 27.39% year-on-year [13] - The company recorded a gross profit of approximately RMB 1.76 million, a decrease of about RMB 2.58 million year-on-year, primarily due to reduced sales revenue [13] - The net loss attributable to the owners of the company was approximately RMB 12.93 million during the reporting period [13] - Total revenue for the reporting period decreased to approximately RMB 73.20 million, a year-on-year decline of about 27.40% or approximately RMB 27.62 million [22] - Revenue from automotive-related exhibition and event services decreased to approximately RMB 37.83 million, a year-on-year decrease of about 30.54% or approximately RMB 16.63 million, accounting for 51.67% of total revenue [27] - Revenue from non-automotive-related exhibition and event services increased to approximately RMB 27.87 million, a year-on-year increase of about 579.76% or approximately RMB 23.77 million, accounting for 38.07% of total revenue [27] - The gross profit for the third quarter was RMB 728,000, down 82.3% from RMB 4,103,000 year-over-year [92] - The net loss for the nine months ended September 30, 2023, was RMB 12,931,000, compared to a net loss of RMB 9,106,000 for the same period in 2022, reflecting a 42.5% increase in losses [92] Operational Highlights - The company completed 71 exhibition and event projects during the reporting period [22] - The company aims to enhance its service offerings by focusing on core customer needs and expanding into advertising and other exhibition promotion businesses [15] - The company plans to maintain its leading position in the industry by seizing market development opportunities and promoting the growth of its exhibition and event management services [15] - The company is focusing resources on higher-margin businesses in response to the decline in advertising-related services [24] - The group anticipates submitting lower-margin proposals to potential new clients in new market segments, which may exert significant pressure on resource allocation [63] Financial Position - The total cash and cash equivalents at the end of the reporting period amounted to approximately RMB 14.08 million, a significant increase from RMB 4.10 million as of September 30, 2022 [43] - The company’s bank borrowings as of September 30, 2023, were RMB 14.60 million, up from RMB 10.00 million as of September 30, 2022, with no other outstanding bank overdrafts or significant external debt financing plans [44] - The capital debt ratio increased to 158.94% as of September 30, 2023, compared to 45.21% as of December 31, 2022, indicating a significant rise in leverage [48] - Total assets as of September 30, 2023, were RMB 111,718,000, down 18.5% from RMB 137,071,000 at the end of 2022 [94] - Total equity attributable to the owners of the company decreased to RMB 9,186,000 from RMB 22,117,000 at the end of 2022, a decline of 58.5% [94] Governance and Management - The company appointed Mr. Cai Jiacheng as an independent non-executive director and chairman of the audit committee effective October 27, 2023 [76] - The company maintains a strong governance structure with a clear separation of roles between the chairman and CEO [75] - The company has complied with GEM listing rules regarding the appointment of independent directors with appropriate professional qualifications [76] Market Environment - The external environment remains complex and severe, with insufficient domestic demand, necessitating a solid foundation for sustained economic recovery [15] - The Chinese government is expected to continue implementing policies to stabilize employment, finance, and investment, which may positively impact the group's business environment [72] - The company faced significant risks including intense competition in the exhibition services industry and reliance on the automotive sector for its exhibition and event management services [55] Employee and Labor Relations - As of September 30, 2023, the group employed 63 staff members, with employee costs amounting to RMB 12.56 million, an increase from RMB 9.52 million as of September 30, 2022 [64] - The group has not faced any significant labor disputes during the reporting period, maintaining good employee relations [65] Cash Flow and Financing - The cash flow from operating activities for the nine months ended September 30, 2023, was RMB 5,329,000, a significant improvement from a cash outflow of RMB 12,516,000 in the same period of 2022 [99] - The financing activities generated a net cash inflow of RMB 4,319,000 for the nine months ended September 30, 2023, down from RMB 9,934,000 in the same period of 2022 [99] Shareholder Information - The company did not recommend the payment of dividends for the reporting period [13] - The company did not declare or pay any dividends for the periods ended September 30, 2022, and September 30, 2023 [121] - There were no competitive interests from directors or major shareholders during the reporting period [77]

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之內 容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不 就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 Dowway Holdings Limited 天 平 道 合 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8403） 截 至 二 零 二 三 年 九 月 三 十 日 止 九 個 月 第 三 季 度 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市的市場，此等公司相比起其 他 在 聯 交 所 上 市 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 聯 交 所 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 ...

Financial Performance - The group managed and coordinated 65 exhibition and event projects, generating revenue of approximately RMB 51.87 million, a decrease of RMB 3.03 million or about 5.51% year-on-year[13]. - Total revenue decreased from approximately RMB 54.90 million in the six months ended June 30, 2022, to approximately RMB 51.87 million in the same period of 2023, representing a year-on-year decrease of about 5.51% or approximately RMB 3.03 million[22]. - Revenue for the six months ended June 30, 2023, was RMB 51,873,000, a decrease of 5.5% compared to RMB 54,900,000 for the same period in 2022[125]. - The company reported a net loss attributable to shareholders of RMB 9,201,000 for the six months ended June 30, 2023, compared to a loss of RMB 8,146,000 in the same period last year[128]. - The group recorded a loss before income tax of approximately RMB 9.20 million, an increase of approximately RMB 1.06 million compared to a loss of approximately RMB 8.14 million for the six months ended June 30, 2022[44]. - The company’s basic loss per share was RMB 7.67, compared to RMB 7.46 in the previous year, indicating a slight deterioration in per-share performance[102]. - The net proceeds from the IPO amounted to HKD 72.50 million, with a net amount of HKD 36.34 million available for use as of June 30, 2023[57]. - The company reported a cash inflow from operating activities of RMB 1,485,000, a significant recovery from cash outflow of RMB 9,720,000 in the previous year[108]. Revenue Breakdown - Revenue from automotive-related exhibitions and activities increased from approximately RMB 24.99 million to approximately RMB 28.53 million, a year-on-year increase of about 14.13% or approximately RMB 3.53 million, accounting for 55.00% of total revenue[23]. - Revenue from non-automotive-related exhibitions and activities was approximately RMB 18.88 million, accounting for 36.40% of total revenue[24]. - Revenue from exhibition hall services decreased from approximately RMB 3.50 million to approximately RMB 2.25 million, a year-on-year decrease of about 35.76% or approximately RMB 1.25 million, accounting for 4.33% of total revenue[24]. - Revenue from advertising services plummeted from approximately RMB 26.41 million to approximately RMB 2.22 million, a year-on-year decrease of about 91.60% or approximately RMB 24.19 million, accounting for 4.27% of total revenue[24]. Operational Capacity - The group completed 50 out of 65 projects during the reporting period, indicating a robust operational capacity despite market challenges[13]. - The group completed 45 exhibition and event projects, 3 exhibition hall projects, and 2 advertising projects during the reporting period[19]. - The group aims to shift advertising-related services towards exhibition and exhibition hall businesses, focusing resources on higher-margin operations[22]. Economic Context - The domestic GDP for the first half of 2023 reached RMB 593,034 billion, with a year-on-year growth of 5.5%[12]. - The overall economic recovery in China is evident, with macro policies showing positive effects and steady progress towards high-quality development[12]. - The Chinese economy showed a recovery trend in the first half of 2023, with GDP reaching RMB 593,034 million, a year-on-year increase of 5.5%[18]. - The group reported a GDP growth of 6.3% year-on-year in the second quarter of 2023, highlighting a stable recovery in the domestic economy[80]. Cost Management - Total service costs decreased from approximately RMB 54.67 million to approximately RMB 50.85 million, a year-on-year decrease of about 6.99% or approximately RMB 3.82 million[29]. - The cost of exhibition and event-related services decreased from approximately RMB 47.83 million to approximately RMB 43.78 million, a year-on-year decrease of about 8.47% or approximately RMB 4.05 million, accounting for 86.10% of total service costs during the reporting period[30]. - Total selling expenses for the reporting period were approximately RMB 3.91 million, an increase of approximately 5.73% or about RMB 0.21 million compared to approximately RMB 3.70 million for the six months ended June 30, 2022[35]. - Administrative expenses for the reporting period were approximately RMB 7.07 million, a year-on-year increase of approximately 50.90% or about RMB 2.39 million compared to approximately RMB 4.68 million for the six months ended June 30, 2022[39]. Financial Position - Total assets decreased to RMB 123,584,000 from RMB 137,071,000, a decline of 9.8%[104]. - Current assets fell to RMB 116,772,000 from RMB 129,195,000, a decrease of 9.6%[104]. - Total equity decreased to RMB 12,916,000 from RMB 22,117,000, reflecting a decline of 41.5%[104]. - The company has approximately HKD 3.03 million in unused proceeds from the IPO, which is planned to be fully utilized by December 31, 2023[58]. - The debt-to-equity ratio as of June 30, 2023, was 69.68%, compared to 45.21% as of December 31, 2022[54]. Management and Governance - The board of directors confirmed that the report's information is accurate and complete, with no misleading or fraudulent elements[12]. - The company has adopted the GEM Listing Rules for securities trading standards, confirming compliance by all directors[98]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2023, ensuring compliance with applicable accounting standards[99]. - The company has not reported any significant contingent liabilities as of June 30, 2023[72]. - The company did not engage in any significant transactions with related parties during the periods ended June 30, 2022, and June 30, 2023[138]. Human Resources - As of June 30, 2023, the group employed 76 staff, with a total employee cost of approximately RMB 8.54 million, up from RMB 6.09 million in the same period of 2022, reflecting an increase of 40.2%[73]. - The total remuneration for key management personnel for the six months ended June 30, 2023, was RMB 1,958,000, an increase of 103.9% compared to RMB 962,000 for the same period in 2022[139]. Risks and Challenges - The company faces significant risks including intense competition in the exhibition services industry and reliance on the automotive sector for most of its clients[62]. - The company anticipates potential pressure on resource allocation due to proposals with lower profit margins for new market segments[70]. - The company has not made any significant changes to its risk management policies since the end of the previous year[123].

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。 天 平 道 合 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8403） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 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市的市場，此等公司相比起其 他 在 聯 交 所 上 市 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 聯 交 所 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 根 據 聯 交 所GEM證 券 上 市 規 則（「GEM ...

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之內容概 不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本 公告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔 任何責任。 Dowway Holdings Limited 天平道合控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8403） 有關二零二二年年報的補充公告 本公告由天平道合控股有限公司（「本公司」）及其附屬公司（統稱「本集團」） 根據香港聯合交易所有限公司（「聯交所」）GEM證券上市規則（「GEM上巿規 則」）第18.32(8)條及18.32A條作出。 茲提述本公司分別於二零一八年五月二十九日及二零二三年三月三十日刊 發的招股章程及本公司截至二零二二年十二月三十一日止年度的年報（「二 零二二年年報」）。除另有界定者外，本公告所用詞彙與二零二二年年報所 界定者具有相同涵義。 誠如二零二二年年報所披露，本公司首次公開發售所得款項淨額（「首次公 開發售所得款項」）分配約3,031,000港元用於加強本集團的營銷措施，該等 款項仍未動用（「未動用所得款項」），除此之外，所有其他首次公開發售所 ...

Financial Performance - For the first quarter of 2023, the company reported a revenue increase, reflecting a recovery in the exhibition and event management sector following the pandemic [12]. - The company managed and coordinated 25 exhibition and event projects, generating revenue of approximately RMB 7.26 million, a decrease of RMB 2.81 million or about 27.89% year-on-year [16]. - The company's revenue for Q1 2023 was RMB 7,257,000, a decrease of 28.0% compared to RMB 10,064,000 in Q1 2022 [90]. - Revenue from automotive-related exhibition and event services decreased from approximately RMB 3.39 million to RMB 3.27 million, a year-on-year decrease of about 3.51% [26]. - Revenue from non-automotive-related exhibition and event services was approximately RMB 2.02 million, accounting for 27.83% of total revenue [27]. - Revenue from advertising-related services decreased from approximately RMB 6.68 million to RMB 1.71 million, a year-on-year decrease of about 74.41% [27]. - The net loss attributable to the company's owners was approximately RMB 4.48 million, and the board did not recommend the payment of dividends for the period [16]. - The net loss for the period was RMB 4,481,000, compared to a net loss of RMB 3,617,000 in the same period last year, representing a 23.9% increase in losses [90]. - Basic loss per share for Q1 2023 was RMB (3.91), worsening from RMB (3.16) in Q1 2022 [113]. Economic Context - The GDP of China for Q1 2023 reached RMB 28.4497 trillion, showing a year-on-year growth of 4.5% [14]. - The service sector's GDP in Q1 2023 was RMB 16.5475 trillion, with a growth rate of 5.4%, indicating a strong recovery in the industry [14]. - The Chinese economy showed resilience with a GDP growth of 4.5% year-on-year in the first quarter of 2023, indicating potential for recovery in the exhibition industry [20]. - The group anticipates a stable economic recovery in the second quarter of 2023, with GDP growth expected to accelerate compared to the first quarter [67]. Operational Strategy - The company aims to leverage the positive economic trends in China to enhance its market position and expand its service offerings [12]. - The company is focused on high-quality development and balancing domestic and international dynamics to ensure stable growth and employment [13]. - The company is committed to optimizing its operations in response to the evolving market conditions and consumer demands [12]. - The management emphasizes the importance of adapting to new development paradigms and enhancing service quality to meet client expectations [12]. - The company aims to improve its business framework to enhance adaptability and resilience in response to future challenges [16]. - The company is focusing on transitioning advertising-related services towards exhibition and showroom businesses to prioritize higher-margin operations [24]. Financial Position - The total cash and cash equivalents at the end of the period were approximately RMB 10.90 million, an increase from RMB 9.38 million as of March 31, 2022 [42]. - The debt-to-equity ratio as of March 31, 2023, was 51.03%, up from 45.21% as of December 31, 2022 [48]. - Total assets decreased to RMB 100,968,000 as of March 31, 2023, down from RMB 137,071,000 as of December 31, 2022, reflecting a 26.4% decline [92]. - Total equity decreased to RMB 17,636,000 from RMB 22,117,000, a decline of 20.3% [92]. - The group recorded a loss before income tax of approximately RMB 4.48 million, an increase of approximately RMB 0.87 million compared to a loss of RMB 3.61 million for the three months ended March 31, 2022 [37]. Employee and Governance - As of March 31, 2023, the group employed 67 staff members, including 11 management personnel, with total employee costs amounting to RMB 2.84 million, an increase from RMB 2.23 million for the same period last year [60]. - The group has provided various training opportunities for employees to maintain quality, knowledge, and skills [60]. - The group has complied with all applicable corporate governance codes, with a noted exception regarding the roles of the chairman and CEO being held by the same individual [69][70]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited financial statements for the first quarter [87]. Risks and Challenges - The group faced significant risks including reliance on the automotive industry and potential cash flow issues due to delayed customer payments [50][56]. - The group has maintained a low credit risk for trade receivables due to strong historical collection records with major automotive clients [64]. - The group regularly monitors its cash flow needs to ensure sufficient cash reserves for operational demands [66]. - There were no significant changes in risk management policies since year-end [108].

香港交易及結算所有限公司及香港聯合交易所有限公司（「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。 Dowway Holdings Limited 天平道合控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8403） 有關截至二零二三年三月三十一日止三個月 第一季度業績公告的澄清公告 茲提述天平道合控股有限公司（「本公司」）日期為二零二三年五月十日的截 至二零二三年三月三十一日止三個月第一季度業績公告（「業績公告」）。本 公司謹此澄清業績公告中的一處無心文書錯誤如下（為方便參考，英文版本 及中文版本的相關修訂（視情況而定）已加下劃線）： (1) 業績公告第6頁「股息」一段 「董事會不建議就本期間派付任何中期股息（截至二零二二年三月三十 一日止三個月：無）。」 除上文所披露者外，業績公告的所有其他資料將維持不變。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告 之內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不 就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失 承擔任何責任。 天 平 道 合 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8403） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 三 個 月 第 一 季 度 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 市 的 市 場,此 等 公 司 相 比 起 其 他 在 聯交所上市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聯交所 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。 天 平 道 合 控 股 有 限 公 司（「本 公 司」）董 事（「董 事」）會（「董 事 會」）欣 然 宣 佈，本 公 司及其附屬公司（「本集 ...

Financial Performance - For the fiscal year ended December 31, 2022, Dowway Holdings Limited reported total revenue of RMB 177.132 million, a slight increase of 4.8% compared to RMB 170.016 million in 2021[13]. - The company's gross profit for the same period was RMB 5.381 million, representing a significant decline of 62.4% from RMB 14.311 million in 2021[13]. - Operating loss for the year was RMB 36.256 million, compared to a loss of RMB 6.814 million in 2021, indicating a worsening financial performance[13]. - The net loss for the year was RMB 36.967 million, compared to a loss of RMB 7.651 million in 2021, highlighting ongoing challenges[13]. - Total assets as of December 31, 2022, amounted to RMB 137.071 million, a decrease from RMB 148.860 million in 2021[14]. - Total liabilities increased to RMB 114.954 million in 2022, up from RMB 98.898 million in the previous year, reflecting higher financial obligations[14]. - The gross profit for the year was RMB 5.38 million, a decrease of approximately RMB 8.93 million compared to the previous year[18]. - The net loss attributable to shareholders was approximately RMB 36.97 million, with no dividend recommended for the year[18]. - Selling expenses increased by approximately 19.15% to RMB 7.84 million, while administrative expenses decreased by about 2.33% to RMB 11.73 million[40][41]. - The company reported a loss before tax of approximately RMB 36.96 million, a significant increase from the previous year's loss of RMB 7.61 million[47]. Market Presence and Strategy - The company has established strong partnerships with renowned automotive brands, including Lamborghini and Volkswagen, enhancing its market position[16]. - Dowway Holdings Limited operates in over 50 developed cities in China, indicating a broad market presence[16]. - The company aims to continue providing reliable and innovative exhibition planning and event management services to strengthen customer loyalty[16]. - Future strategies may include market expansion and the development of new products and technologies to improve financial performance[16]. - The company plans to adapt to new consumer models and scenarios, aiming to participate in larger-scale industry integration and optimize operational costs in 2023[21]. - The company will enhance its business framework to ensure comprehensiveness, adaptability, and resilience in 2023[21]. - The company aims to leverage advanced technology to strengthen its professional layout and prepare for future challenges[21]. - The company is cautiously optimistic about the exhibition services sector, anticipating significant market opportunities as the service industry continues to expand[94]. - In 2023, the company plans to upgrade audiovisual and technical equipment to enhance digital service capabilities and adapt to new consumer trends[94]. - The company aims to execute a well-planned new strategy to meet the rapidly changing domestic and global markets post-pandemic, ensuring quality exhibition services[94]. Revenue Breakdown - Revenue from advertising-related services increased by 76.09%, contributing RMB 67.41 million, which accounted for 38.06% of total revenue[30][35]. - Revenue from exhibition and event-related services decreased by approximately 7.59% to RMB 102.84 million, representing 58.06% of total revenue[34]. - In 2022, the company's total revenue from 104 completed projects reached approximately RMB 177.13 million, representing a year-on-year increase of RMB 7.12 million or 4.19%[18]. - The company completed 93 exhibition and event projects, 4 showroom projects, and 7 advertising projects, resulting in total revenue of approximately RMB 177.13 million, an increase of about 4.19% compared to the previous year[30]. Financial Management and Risks - The company manages credit risk by depositing cash in reputable financial institutions, minimizing exposure to high credit risk[87]. - The company’s trade receivables are primarily from major automotive clients, with over 70% coming from well-known companies, indicating a potential risk if these clients face financial difficulties[84]. - The company maintains close communication with automotive clients to assess credit risk, believing the inherent credit risk for outstanding trade receivables is low due to a good historical record[88]. - The company considers its bank acceptance notes to have low credit risk, indicating a stable financial position[89]. - The company regularly monitors cash flow needs to ensure sufficient cash reserves for operational demands, utilizing rolling forecasts for liquidity management[90]. - The company faces significant risks due to reliance on the automotive industry for exhibition and event management services, with most clients being automotive companies[72]. - The company anticipates potential pressure on resource allocation due to low-margin proposals for new market segments in the short term[78]. Corporate Governance and Compliance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[197]. - The Board of Directors is responsible for the overall leadership and monitoring of strategic decisions and business performance[198]. - The company has appropriate liability insurance for directors against legal actions and will review the coverage annually[199]. - The composition of the Board includes executive, non-executive, and independent non-executive directors, with recent changes in appointments noted[200]. - The company has adopted a dividend policy aimed at allowing shareholders to participate in profit sharing while reserving funds for future development[118]. - The company has confirmed compliance with the non-competition agreement by the contractors for the year[152]. - The company has maintained at least 25% of its issued shares held by the public, in compliance with the minimum public float requirement[158]. Shareholder Information - The company does not recommend the payment of a final dividend for the year, consistent with the previous year[121]. - The company’s available reserves for distribution to equity holders were approximately zero RMB as of December 31, 2022, unchanged from the previous year[136]. - The total number of shares held by major shareholders and their corresponding percentages are disclosed, ensuring transparency in ownership[171]. - The company has established a share option scheme aimed at attracting and retaining top talent, providing additional incentives to employees and partners[176]. - The share option agreement allows Yongjia Yuan Limited to purchase up to 12,000,000 shares at a price of HKD 1.00 per share within a two-year period[178]. - The company has a stock option plan allowing for the issuance of up to 200,000,000 shares, which represents approximately 10% of the total issued shares as of the report date[180]. - The total number of shares that can be issued under the stock option plan is capped at 30% of the total issued shares at any time[186]. - During the year, a total of 6,800,000 stock options were granted, with 1,650,000 options expired and 3,150,000 options canceled[187]. - As of December 31, 2022, there were no unexercised stock options remaining[187]. Economic Outlook - Global economic growth is projected to decline from 3.4% in 2022 to 2.9% in 2023, influenced by tightening monetary policies and geopolitical tensions[91]. - China's economic growth is expected to rise from 3% in 2022 to 5.2% in 2023, driven by early reopening and recovery in consumer spending[93].