Financial Performance - The company achieved revenue of approximately HKD 32.0 million for the year ended March 31, 2023, representing a 1.5% increase compared to the previous year[13] - For the fiscal year ending March 31, 2023, the company recorded revenue of approximately HKD 32.0 million, an increase of about 1.5% compared to HKD 31.5 million for the fiscal year ending March 31, 2022[21] - Sales costs increased by 17.5% to HKD 22.3 million for the fiscal year ending March 31, 2023, up from HKD 18.9 million for the previous year[22] - Gross profit decreased by 22.8% to HKD 9.7 million for the fiscal year ending March 31, 2023, compared to HKD 12.6 million for the previous year, resulting in a gross margin of 30.3%[23][24] - Administrative expenses rose by 33.7% to HKD 24.5 million for the fiscal year ending March 31, 2023, up from HKD 18.3 million for the previous year[28] - The company reported a net loss of HKD 28.4 million for the fiscal year ending March 31, 2023, an increase of 207.3% from a loss of HKD 9.2 million in the previous year[30] - The company recorded a loss of HKD 3.5 million in other comprehensive income for the year ended March 31, 2023, due to exchange rate fluctuations[44] Operational Challenges - The company continues to face operational pressures due to the global pandemic and economic slowdown in China[13] - The company has no significant investment plans aside from the disclosed acquisition[48] - There were no significant acquisitions or disposals of subsidiaries or associates during the year ended March 31, 2023[49] Strategic Initiatives - The company is focusing on high-end precision 3D inspection solutions and precision machining solutions for industries such as aerospace, shipbuilding, ground transportation, and electronics[13] - The company entered into a service agreement to design and construct a digital smart tourism scenic area system, expanding its technical service business[14] - On April 13, 2023, the company signed a sale and purchase agreement to conditionally acquire a 20% stake in Huanggang Fuyuan Culture, which operates in the growing funeral services industry in China[15] - The company is increasing sales and marketing efforts to expand its sales team and coverage area to secure new contracts in the intelligent manufacturing solutions market[50] - The company plans to enhance its R&D capabilities by establishing its own R&D center and hiring more technical talent to maintain a technological edge[50] Financial Position - As of March 31, 2023, the company's cash and cash equivalents amounted to approximately HKD 4.3 million, compared to HKD 3.7 million in the previous year[31] - The company has a net debt-to-equity ratio of 15% as of March 31, 2023[32] - The company completed a placement of 80,000,000 shares at a price of HKD 0.069 per share, raising approximately HKD 5.3 million for general working capital[36][38] - As of March 31, 2023, the company held trade receivables of HKD 12.4 million, cash and bank deposits of HKD 4.3 million, and other receivables of HKD 1.5 million[47] Corporate Governance - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee specific areas of governance[78] - The company has adopted the trading standards as per GEM Listing Rules, ensuring compliance with securities trading regulations[74] - The company confirmed that all directors have adhered to the trading standards for the fiscal year ending March 31, 2023[75] - The company emphasizes the importance of corporate governance for sustainable development and asset protection[71] - The company has a responsibility insurance arrangement for directors, which is reviewed annually[79] - The company has not complied with certain GEM Listing Rules regarding the number of independent non-executive directors following the resignation of Mr. Liang Jiarong on April 24, 2023[73] - The company believes that having Mr. Zeng Weijin as both Chairman and CEO provides strong and continuous leadership[72] - The company’s board is responsible for overall leadership and strategic decision-making, delegating daily management to senior management[78] - The company has a commitment to improving corporate governance practices continuously[71] Board Composition and Diversity - The board of directors consists of nine members, including one female director[90] - The company has adhered to GEM Listing Rules regarding the independence of non-executive directors[80] - The board diversity policy aims to enhance performance quality through a balanced and stable development approach[82] - The selection of board candidates is based on various diversity criteria, including gender, age, and professional experience[84] - The nomination committee will review the diversity policy to ensure its effectiveness and propose any necessary amendments[88] - The company has established measurable targets for board diversity, which will be disclosed in the annual report[88] Risk Management - The company has implemented risk management policies to address various identified risks, including control, regulatory, operational, and credit risks[134] - The company has established and maintains an internal control system to ensure compliance with applicable laws and regulations, which is deemed sufficient and effective for current operations[135] - The company has reviewed its risk management and internal control systems and considers them adequate and effective as of the end of the fiscal year[137] Employee Relations - The company had a total of 27 employees as of March 31, 2023, an increase from 25 employees in 2022[159] - The company regularly reviews employee performance for annual bonuses, salary adjustments, and promotions[162] - The company has implemented a stock option plan to attract and retain talented employees[162] - There were no significant labor disputes or disruptions to business operations reported during the year[158] Shareholder Communication and Dividend Policy - The company will continue to enhance communication with shareholders and investors through its corporate website and other channels[139] - The company has adopted a shareholder communication policy to facilitate effective communication with shareholders since April 20, 2018[139] - The board is committed to a sustainable dividend policy, balancing shareholder expectations and prudent capital management[1] - The dividend policy allows for the declaration and payment of dividends if the group achieves profits without affecting normal operations[1] - The board will consider actual and expected financial performance, retained earnings, and capital requirements when recommending dividends[1] - The company reserves the right to review and amend the dividend policy at any time without creating a legal obligation for future dividends[189] - The board has full discretion over the declaration and payment of dividends, with no guarantee of specific amounts at any given time[192]

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。 Min Fu International Holding Limited 民富國際控股有限公司 （於開曼群島註冊成立之有限公司） 8511 （股份代號： ） 2023 3 31 截至 年 月 日止年度的年度業績公告 GEM 香港聯合交易所有限公司（「聯交所」） 之特色 GEM 的定位，乃為中小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。 GEM GEM 由於 上市公司普遍為中小公司，在 買賣的證券可能會較於主板買賣的證券承受較 GEM 大的市場波動風險，同時無法保證在 買賣的證券會有高流通量的市場。 GEM 本公告載有有關民富國際控股有限公司（「本公司」）的資料，乃遵照聯交所 證券上巿規則 GEM （「 上市規則」）而提供，本公司董事（「董事」）願就本公告共同及個別承擔全部責任。董事 ...

Financial Performance - The company recorded unaudited revenue of approximately HKD 25.3 million for the nine months ended December 31, 2022, representing an increase of about 14.2% compared to the same period last year[5]. - The unaudited loss attributable to owners of the company for the nine months ended December 31, 2022, was HKD 14.8 million, compared to a loss of HKD 7.0 million in the same period last year, primarily due to increased administrative expenses[5]. - Basic and diluted loss per share for the nine months ended December 31, 2022, was approximately HKD 3.88, compared to HKD 1.75 for the same period in 2021[5]. - The gross profit for the nine months ended December 31, 2022, was HKD 6.3 million, down from HKD 7.4 million in the previous year[7]. - Operating loss for the nine months ended December 31, 2022, was HKD 13.3 million, compared to HKD 6.4 million in the same period last year[7]. - The company reported a total comprehensive loss of HKD 16.5 million for the nine months ended December 31, 2022, compared to HKD 6.9 million in the same period last year[7]. - The group reported a loss before tax of HKD 14,182,000 for the nine months ended December 31, 2022, compared to a loss of HKD 10,966,000 for the same period in 2021, indicating a decline in performance[26]. - The smart manufacturing solutions business incurred a loss before tax of HKD 4,790,000 for the nine months ended December 31, 2022, while the funeral services business reported a loss of HKD 4,570,000[26]. - The company reported a net loss of HKD 14.8 million for the nine months ended December 31, 2022, an increase of 112.1% from a net loss of HKD 7.0 million for the same period in 2021[49]. Revenue Breakdown - Total revenue for the group reached HKD 25,268,000 for the nine months ended December 31, 2022, up from HKD 22,135,000 in the previous year, marking a growth of 14.88%[24]. - Revenue for the smart manufacturing solutions business increased to HKD 24,001,000 for the nine months ended December 31, 2022, compared to HKD 22,135,000 for the same period in 2021, representing an increase of 8.43%[24]. - The funeral services segment contributed approximately HKD 1.3 million to revenue for the nine months ended December 31, 2022, accounting for about 5.0% of total revenue[43]. Expenses - The company incurred administrative expenses of HKD 16.9 million for the nine months ended December 31, 2022, compared to HKD 10.2 million in the previous year[7]. - Sales and marketing expenses for the nine months ended December 31, 2022, were HKD 2.1 million, down from HKD 4.0 million in the previous year[7]. - Administrative expenses increased by 66.4% to HKD 16.9 million for the nine months ended December 31, 2022, primarily due to higher employee costs, R&D expenses, and depreciation[48]. Shareholder Information - Major shareholder Dingyu Technology Limited holds a beneficial interest of 25.51% in the company[75]. - The group did not declare any interim dividend for the nine months ended December 31, 2022, consistent with the previous year[36]. Corporate Governance - The company has adopted trading standards in compliance with GEM Listing Rules for its directors' securities transactions[86]. - The company has deviated from the GEM Listing Rules regarding the separation of roles between the Chairman and the CEO, with Mr. Zeng Weijin serving both roles since November 4, 2022[87]. - The Audit Committee has been established and includes three independent non-executive directors, with Mr. Liang Jiarong as the chairman, overseeing financial reporting and risk management[93]. - The company has complied with the applicable code provisions of the GEM Listing Rules as of December 31, 2022[87]. - Two new non-executive directors, Ms. Li Xiaoxuan and Ms. Zhang Xiaoling, were appointed on February 8, 2023[91]. - The Audit Committee has reviewed the unaudited financial information for the nine months ending December 31, 2022, and the third-quarter report[93]. Future Plans - The company plans to enhance its sales and marketing efforts by expanding its sales team and administrative staff to increase market share and win new contracts[67]. - The company aims to establish its own R&D center and hire more technical talent to maintain its technological leadership and competitiveness in the rapidly evolving smart manufacturing solutions market[67]. Risk Management - The company has implemented credit policies to monitor credit risks associated with cash, cash equivalents, trade receivables, and other receivables[68]. - The company is exposed to interest rate risk primarily from bank borrowings at variable rates, and it has not used financial derivatives to hedge this risk[69]. - The company monitors its cash and cash equivalents to manage liquidity risk and expects to meet future cash flow needs through internal cash flow and bank borrowings[70]. Capital Structure - As of December 31, 2022, the net capital debt ratio was 30.7%, up from 10.0% as of March 31, 2022, mainly due to increased bank borrowings and leasing liabilities[50]. - The company had cash and cash equivalents of approximately HKD 4.2 million as of December 31, 2022, compared to HKD 3.7 million as of March 31, 2022[52]. - The company completed a placement of up to 80,000,000 shares at a price of HKD 0.069 per share, representing approximately 16.67% of the issued share capital post-placement[82]. - The net proceeds from the placement are approximately HKD 5,299,000, which will be used for general working capital[83]. Acknowledgments - The company expresses gratitude to management, employees, shareholders, and business partners for their support during the reporting period[94].

Financial Performance - The company recorded unaudited revenue of approximately HKD 12.0 million for the six months ended September 30, 2022, representing an increase of about 9.7% compared to the same period last year[5]. - The unaudited loss attributable to owners of the company for the same period was HKD 10.8 million, compared to a loss of HKD 4.1 million in the previous year, primarily due to increased administrative expenses[5]. - Basic and diluted loss per share for the six months ended September 30, 2022, was approximately HKD 2.70, compared to HKD 1.03 for the same period in 2021[5]. - The total comprehensive loss attributable to owners of the company for the six months ended September 30, 2022, was HKD 13.54 million, compared to HKD 4.15 million for the same period in 2021[14]. - For the six months ended September 30, 2022, the company reported a loss attributable to owners of the company of HKD 10,792,000, compared to a loss of HKD 4,148,000 for the same period in 2021, representing an increase of 160%[45]. - The net loss for the six months ended September 30, 2022, increased by 160.2% to HKD 10.8 million from HKD 4.1 million for the same period in 2021, primarily due to higher administrative expenses[78]. Revenue Breakdown - Total revenue for the six months ended September 30, 2022, was HKD 12,045,000, an increase of 9.7% from HKD 10,979,000 in the same period of 2021[30]. - Revenue from the smart manufacturing solutions business for the six months ended September 30, 2022, was HKD 10,944,000, slightly down from HKD 10,979,000 in the previous year[30]. - The funeral services business generated revenue of HKD 1,101,000 for the six months ended September 30, 2022, with no revenue reported in the same period of 2021[30]. - The gross profit increased by 6.2% from HKD 3.7 million for the six months ended September 30, 2021, to HKD 3.9 million for the same period in 2022, primarily due to contributions from the funeral services business[73]. - The funeral services business contributed approximately 9.1% of the total revenue for the six months ended September 30, 2022, generating HKD 1.1 million in revenue[71]. Expenses and Liabilities - Administrative expenses for the six months ended September 30, 2022, were HKD 11.34 million, significantly higher than HKD 5.09 million in the previous year[7]. - The total sales cost, selling and marketing expenses, and administrative expenses for the six months ended September 30, 2022, amounted to HKD 21,249,000, up from HKD 14,710,000 in 2021, reflecting a 44% increase[4]. - The company incurred employee costs of HKD 4,648,000 for the six months ended September 30, 2022, compared to HKD 1,872,000 in 2021, indicating a significant increase of 148%[4]. - The company's total liabilities increased to HKD 31.41 million as of September 30, 2022, compared to HKD 15.37 million as of March 31, 2022[11]. - The net capital debt ratio increased to 25.8% as of September 30, 2022, compared to 10.0% as of March 31, 2022, mainly due to increased bank borrowings and lease liabilities[79]. Cash Flow and Investments - Operating cash flow for the six months ended September 30, 2022, was HKD 3,028,000, compared to a cash outflow of HKD 325,000 for the same period in 2021, representing a significant improvement[16]. - The net cash used in investing activities for the six months ended September 30, 2022, was HKD 5,026,000, primarily due to purchases of intangible assets and equipment[16]. - The company purchased property and equipment amounting to approximately HKD 4.9 million for the six months ended September 30, 2022, compared to no purchases in the same period in 2021[46]. - As of September 30, 2022, the company had cash and cash equivalents of approximately HKD 3.1 million, down from HKD 3.7 million as of March 31, 2022[81]. Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited financial information for the six months ending September 30, 2022[117]. - The company has adopted the trading standards as per GEM Listing Rules, confirming compliance by all directors for the six months ending September 30, 2022[110]. - The company has adhered to the corporate governance code as per GEM Listing Rules Appendix 15 during the reporting period[112]. - The board did not recommend an interim dividend for the six months ended September 30, 2022, consistent with the previous year[43]. Business Operations and Strategy - The company continues to focus on its two main business segments: smart manufacturing solutions and funeral services in China[28]. - The group is increasing its sales and marketing efforts to expand its market share in the intelligent manufacturing solutions sector[93]. - The group plans to enhance its research and development efforts by establishing its own R&D center and hiring more technical personnel to maintain a competitive edge[93]. - The group employed 42 staff members as of September 30, 2022, an increase from 22 in 2021, indicating a focus on talent acquisition[90]. - The company completed 3 ongoing projects and secured 6 new projects in the smart manufacturing solutions sector during the reporting period[70]. Shareholder Information - Major shareholders include Dingyu Technology with a beneficial interest of 144,097,800 shares, representing 36.02% of the total shares[104]. - Another significant shareholder is Yuan Ying Capital Limited, holding 50,627,200 shares, which accounts for 12.66% of the total shares[104]. - No share options have been granted, exercised, or cancelled under the share option scheme since its adoption on April 20, 2018[105]. Risk Management - The group has implemented credit policies to monitor credit risks associated with cash and cash equivalents, trade receivables, and other receivables[94]. - The group has not used financial derivatives to hedge interest rate risks associated with its bank borrowings[95].

Financial Performance - The company recorded unaudited revenue of approximately HKD 7.0 million for the three months ended June 30, 2022, representing an increase of about 6.3% compared to the same period last year[7]. - The unaudited loss attributable to owners of the company was HKD 4.9 million, compared to a loss of HKD 2.1 million in the same period last year, primarily due to increased administrative expenses[7]. - Basic and diluted loss per share for the period was approximately HKD 1.24, compared to HKD 0.52 in the previous year[7]. - Gross profit for the period was HKD 2.945 million, with a gross margin of approximately 42.0%[9]. - Operating loss for the period was HKD 4.470 million, compared to an operating loss of HKD 1.492 million in the same period last year[9]. - The company reported a net loss before tax of HKD 4.731 million, compared to HKD 1.491 million in the previous year[9]. - Total comprehensive loss attributable to owners of the company was HKD 6.198 million, compared to HKD 2.095 million in the same period last year[9]. - The group reported a loss before tax of HKD 4,731,000 for the three months ended June 30, 2022, compared to a loss of HKD 2,095,000 for the same period in 2021[43]. - Basic loss per share for the three months ended June 30, 2022, was HKD 1.24, compared to HKD 0.52 for the same period in 2021[43]. Revenue Breakdown - Revenue from the smart manufacturing solutions business was HKD 6,357,000, a decrease of 3.6% from HKD 6,596,000 in the previous year[26]. - The funeral services business generated revenue of HKD 652,000, with no revenue reported in the same period of 2021[26]. - The funeral services business accounted for approximately 9.3% of the group's revenue for the three months ended June 30, 2022, contributing HKD 0.6 million[47]. Administrative Expenses - Administrative expenses increased significantly to HKD 6.029 million from HKD 2.674 million in the previous year, reflecting a rise of approximately 125%[9]. - Administrative expenses rose by 125.5% to HKD 6.0 million for the three months ended June 30, 2022, compared to HKD 2.7 million for the same period in 2021, mainly due to increased employee costs and R&D expenses[53]. Equity and Assets - The company’s total equity as of June 30, 2022, was approximately HKD 50.195 million, reflecting a decrease from the previous year[12]. - The net capital debt ratio increased to 24.2% as of June 30, 2022, compared to 10.0% as of March 31, 2022, mainly due to increased bank borrowings and leasing liabilities[55]. - As of June 30, 2022, the group had cash and cash equivalents of approximately HKD 5.0 million, up from HKD 3.7 million as of March 31, 2022[56]. Research and Development - The group plans to enhance its R&D efforts by establishing its own R&D center and hiring more technical personnel to maintain a competitive edge in the rapidly evolving smart manufacturing solutions market[68]. - The group has registered 16 patents, including 6 invention patents and 10 utility model patents, with 8 invention patents currently in the registration stage[46]. Corporate Governance - The company has complied with the GEM Listing Rules regarding corporate governance practices[87]. - The company has adopted trading standards as per GEM Listing Rules for directors' securities transactions[85]. - The audit committee has been established and consists of three independent non-executive directors, chaired by Mr. Leung Ka Wing[90]. - The main responsibilities of the audit committee include advising the board on the appointment and removal of external auditors, reviewing financial statements, and overseeing the financial reporting system and internal controls[90]. - The audit committee has reviewed the accounting principles adopted by the group and discussed audit and financial reporting matters with management[90]. - The unaudited financial information for the three months ended June 30, 2022, has been discussed and reviewed by the audit committee[90]. Shareholder Information - Mr. Huang holds a controlled corporation interest of 144,097,800 shares, representing 36.02% of the company's equity[75]. - Major shareholder Dingyu holds 144,097,800 shares, also representing 36.02% of the company's equity[79]. - Major shareholder Yuan Ying Capital Limited holds 52,399,200 shares, representing 13.10% of the company's equity[79]. - No share options have been granted, exercised, or cancelled under the share option scheme since its adoption[81]. Dividend and Securities Transactions - The group has no plans to declare an interim dividend for the three months ended June 30, 2022[39]. - The company did not recommend an interim dividend for the three months ended June 30, 2022, consistent with the previous year[73]. - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the three months ended June 30, 2022[74]. - The company did not enter into any related party transactions during the reporting period[83]. Employee Information - The group has 48 employees as of June 30, 2022, compared to 23 employees in 2021, reflecting its commitment to talent acquisition and retention[65]. Events After Reporting Period - No significant events requiring disclosure occurred after June 30, 2022[84]. - The board expresses gratitude to the management and all employees for their hard work and contributions during the reporting period[91].

Financial Performance - The company reported a revenue of approximately HKD 31.5 million for the fiscal year ending March 31, 2022, representing a decrease of 21.1% compared to the previous year[12]. - The company recorded revenue of approximately HKD 31.5 million for the year ended March 31, 2022, a decrease of about 21.1% compared to HKD 40.0 million for the year ended March 31, 2021[21]. - The cost of sales decreased by 19.7% to HKD 18.9 million for the year ended March 31, 2022, down from HKD 23.6 million for the previous year[22]. - Gross profit fell by 23.3% to HKD 12.6 million for the year ended March 31, 2022, compared to HKD 16.4 million for the year ended March 31, 2021[23]. - The gross profit margin remained stable at 39.9% for the year ended March 31, 2022, compared to 41.0% in 2021[24]. - The company incurred a loss of HKD 9.2 million for the year ended March 31, 2022, an increase of 176.9% from a loss of HKD 3.3 million in the previous year[30]. - The net debt-to-equity ratio was 10.0% as of March 31, 2022, compared to 8.1% in 2021[31]. - The group reported trade receivables of HKD 15.9 million, cash and cash equivalents of HKD 3.7 million, and other receivables of HKD 1.4 million as of March 31, 2022[49]. - Financial performance indicators for the fiscal year ending March 31, 2022, are detailed in the financial summary section of the annual report[129]. - The company reported that sales to its five largest customers accounted for approximately 81.0% of total revenue for the year ended March 31, 2022[153]. - The group had a total of 17 employees as of March 31, 2022, down from 25 employees in 2021[134]. Business Operations and Strategy - The company continues to focus on providing high-end precision 3D inspection solutions and precision machining solutions for industries such as aerospace, shipbuilding, ground transportation vehicles, and electronics[12]. - The company remains optimistic about future prospects despite potential economic downturns and uncertainties related to the COVID-19 pandemic, aiming to strengthen its existing smart manufacturing solutions business[14]. - The company will continue to assess the impact of global economic recovery factors, including the COVID-19 pandemic, US-China relations, and the Russia-Ukraine conflict, on its operations and financial performance[14]. - The company has entered into a service agreement with Huanggang Buddhist Culture Development Co., Ltd. for the design and construction of intelligent columbarium systems and digital smart tourism systems, which is expected to expand its technical service business[13]. - The company plans to enhance its research and development efforts and establish its own R&D center to maintain a technological edge in the smart manufacturing solutions market[51]. - The company is focused on managing liquidity risk by monitoring cash levels to ensure sufficient operational funding[55]. - The company has implemented credit policies to monitor credit risks associated with its financial assets[52]. - The group is increasing sales and marketing efforts to expand its sales team and coverage area to secure new contracts[51]. - The company has implemented strict quality control measures to ensure the delivery of high-quality smart manufacturing solutions[133]. Corporate Governance - The company has committed to improving corporate governance practices, believing that sound governance is crucial for sustainable development and asset protection[72]. - The company has adhered to the GEM Listing Rules Appendix 15 corporate governance code, with a notable deviation regarding the roles of the chairman and CEO, which are held by Mr. Huang and Mr. Zeng respectively since January 7, 2022[73]. - The company has confirmed compliance with the trading standards for directors as per GEM Listing Rules from April 1, 2021, to March 31, 2022[76]. - The board of directors includes Mr. Huang Minzhi as chairman and Mr. Zeng Weijin as CEO, both appointed on December 16, 2021[79]. - The company has undergone changes in control, leading to the resignation of Mr. Wu and the appointment of new directors on January 7, 2022[73]. - The company’s independent non-executive directors have been confirmed to meet the independence criteria set out in the GEM Listing Rules[79]. - The company’s financial and corporate governance functions are overseen by Mr. Zheng Weixi, who was appointed as company secretary on January 7, 2022[70]. - The company’s governance practices are aligned with the principles and provisions of the corporate governance code, ensuring effective leadership and management[72]. - The company has established a compliance framework for securities trading by directors, adhering to the GEM Listing Rules[75]. - The board of directors is responsible for overseeing the company's business operations and ensuring alignment with shareholder interests[80]. - The audit committee held five meetings during the fiscal year ending March 31, 2022, with attendance details provided[88]. - The remuneration committee conducted two meetings in the same fiscal year, reviewing the compensation and performance of directors and senior management[91]. - The nomination committee held three meetings, focusing on the structure, size, and composition of the board[94]. - The company has adopted a nomination policy as of December 25, 2018, outlining selection criteria and objectives[95]. - The audit committee consists of three members, all of whom are independent non-executive directors[87]. - The remuneration committee includes a majority of independent non-executive directors, ensuring unbiased compensation recommendations[90]. - The board has established specific committees to oversee various aspects of the company's operations, ensuring adequate resources are provided[83]. - The company has implemented internal guidelines requiring board approval for significant operational and investment decisions[80]. - The board is satisfied with the effectiveness of the corporate governance policies in place[82]. - The total remuneration for senior management was within the range of HKD 1,000,000 or below[110]. - The independent non-executive directors have a fixed term of three years, which can be terminated by either party with three months' written notice[102]. - The company secretary received no less than 15 hours of relevant professional training during the year ended March 31, 2022[106]. - The nomination committee evaluates candidates based on factors such as reputation, experience in business strategy, management, legal and financial aspects[1]. - The board diversity policy includes various standards such as gender, age, cultural and educational background, professional experience, skills, knowledge, and tenure[104]. - The nomination committee is responsible for recommending candidates for the board's consideration and approval[3]. - The company has adopted a board diversity policy to ensure effective implementation and monitoring[104]. - All directors confirmed compliance with the code's provisions regarding continuous professional development during the year[103]. - The nomination committee may request additional information and documents from candidates if deemed necessary[2]. - The company has established a risk management policy to address various identified risks, including operational and credit risks, ensuring effective monitoring and mitigation strategies are in place[112]. Shareholder and Dividend Policy - The company did not recommend the payment of any final dividend for the year ended March 31, 2022, consistent with the previous year[135][156]. - The company has a sustainable dividend policy aimed at balancing shareholder expectations and prudent capital management[158]. - The board will consider actual and expected financial performance, retained earnings, and capital requirements when proposing dividends[163]. - The company aims to reserve sufficient reserves for future development while allowing shareholders to share in profits[158]. - The maximum number of shares that can be issued under the share option plan is capped at 10% of the total issued shares, which amounts to 40,000,000 shares[175]. - The board retains the discretion to update or cancel the dividend policy without any legal commitment to future dividends[161]. - The board will review the dividend policy regularly to ensure it aligns with the best interests of the company and shareholders[161]. - The company has not established any preferential rights for existing shareholders regarding the issuance of new shares[162]. - The board's decision on dividend payments is subject to applicable laws and regulations[163]. Compliance and Risk Management - The company has not experienced significant adverse effects from the COVID-19 pandemic and maintains a stable financial position[48]. - There were no significant compliance issues reported for the fiscal year ending March 31, 2022, that would materially impact the company's financial or operational performance[112]. - The company has implemented additional internal control measures to ensure compliance with applicable laws and regulations, including those related to insider information[115]. - The company is committed to environmental protection and has taken steps to comply with relevant environmental laws and regulations[130]. - The board of directors is responsible for establishing and reviewing the effectiveness of the internal control system annually[115]. - The company has not identified any significant legal or regulatory violations that would severely impact its business as of March 31, 2022[131]. - There have been no significant subsequent events after March 31, 2022, up to the date of this annual report[192]. - The company has entered into a non-competition agreement with certain parties to prevent direct or indirect competition with the group[182]. - The independent auditor for the financial statements for the year ending March 31, 2022, is Moore Stephens CPA Limited, which will be reappointed at the next annual general meeting[191]. - The group applied the simplified approach under HKFRS 9 to measure the lifetime expected credit loss for trade receivables[199]. - The assessment of expected credit losses involves significant judgment and estimation, indicating a high level of inherent risk[200]. Share Capital and Major Shareholders - As of March 31, 2022, the company had issued 400,000,000 shares out of a total authorized share capital of 5,000,000,000 shares[124]. - As of March 31, 2022, major shareholders include Dingyu Technology Limited with a 36.02% stake and Yuan Ying Capital Limited with a 13.10% stake[168]. - The company has no significant contracts with major shareholders that remain valid as of March 31, 2022[163]. - The company has maintained sufficient public float as required under GEM listing rules as of March 31, 2022[189]. - There were no related party transactions or continuing connected transactions that required disclosure under GEM listing rules during the fiscal year ending March 31, 2022[186]. Employee and Talent Management - The company has adopted a share option scheme to attract and retain talented employees[134]. - The company has a stock option plan established on March 26, 2018, to recognize contributors and provide them with ownership opportunities[171]. - No share options have been granted, exercised, cancelled, or lapsed from the adoption date of the share option plan until March 31, 2022[177].

Financial Performance - Zhicheng Technology Group Ltd. recorded unaudited revenue of approximately HKD 22.1 million for the nine months ended December 31, 2021, representing an increase of about 36.9% compared to the same period last year[4] - The company reported an unaudited loss attributable to owners of approximately HKD 7.0 million for the nine months ended December 31, 2021, an improvement from a loss of HKD 9.0 million in the previous year[4] - Basic and diluted loss per share for the nine months ended December 31, 2021, was approximately HKD 1.75, compared to HKD 2.26 for the same period in 2020[4] - Gross profit for the nine months ended December 31, 2021, was approximately HKD 7.4 million, up from HKD 6.2 million in the previous year[6] - Total comprehensive loss attributable to owners for the nine months ended December 31, 2021, was approximately HKD 6.9 million, compared to HKD 9.0 million in the previous year[6] - Operating loss for the nine months ended December 31, 2021, was approximately HKD 6.4 million, a reduction from HKD 9.9 million in the previous year[6] - The company reported a net other income of approximately HKD 0.36 million for the nine months ended December 31, 2021, compared to HKD 1.7 million in the previous year[6] Revenue and Sales Growth - The company recorded revenue of approximately HKD 22.1 million for the nine months ended December 31, 2021, representing a 36.9% increase from approximately HKD 16.2 million for the same period in 2020[35] - The revenue from precision 3D inspection solutions increased from approximately HKD 16.2 million in 2020 to approximately HKD 22.1 million in 2021, primarily due to an increase in contract values for precision 3D inspection projects[35] - The company completed 12 new precision 3D inspection projects and 6 existing projects during the reporting period, resulting in a total of 3 ongoing projects as of December 31, 2021[31] Expenses and Cost Management - Administrative expenses decreased to approximately HKD 10.2 million for the nine months ended December 31, 2021, from HKD 13.6 million in the same period last year[6] - Sales cost increased by 48.3% from approximately HKD 9.9 million in the same period of 2020 to approximately HKD 14.8 million, primarily due to higher equipment costs for solution projects[36] - Gross profit rose by 18.7% from approximately HKD 6.2 million in 2020 to approximately HKD 7.4 million, while gross margin decreased from 38.5% to 33.3%[37] - Administrative expenses decreased by 25.4% from approximately HKD 13.6 million in 2020 to approximately HKD 10.2 million, mainly due to reduced R&D and professional service costs[40] Future Plans and Strategic Initiatives - The company aims to enhance its smart manufacturing solutions in China, focusing on equipment sales and technical services[12] - The company aims to continue organic growth and expand its operational scale to enhance market competitiveness[32] - The company plans to recruit professional sales, marketing, and administrative personnel to support future business expansion[32] - The company plans to enhance R&D efforts and establish its own R&D center to maintain technological leadership and competitiveness[56] Shareholding and Corporate Governance - As of December 31, 2021, Mr. Wu holds 39,600,000 shares, representing 9.90% of the company's equity[63] - Mr. Huang owns 139,887,000 shares, accounting for 34.97% of the company's equity[63] - The major shareholder, Dingyu Technology Co., Ltd., holds 139,887,000 shares, which is 34.97% of the equity[66] - The shareholding structure indicates a significant concentration of ownership among a few major shareholders[66] - The company has not disclosed any other individuals or entities with interests in the company's shares as of December 31, 2021[69] Compliance and Reporting - The financial statements are prepared in accordance with applicable Hong Kong Financial Reporting Standards, ensuring compliance with GEM listing rules[14] - The company has adopted all new and revised Hong Kong Financial Reporting Standards effective from April 1, 2021, with no significant changes to accounting policies[20] - The audit committee, consisting of three independent non-executive directors, has been established to oversee financial reporting and internal controls[97] - The company has complied with the applicable code provisions of the GEM Listing Rules during the reporting period[96] Market and Product Development - The company is investing $500 million in new technology research and development to enhance product offerings[20] - New product launches contributed to a 5% increase in overall sales, with the latest product line generating $1 billion in revenue[20] - Market expansion efforts have led to a 20% increase in sales in the Asia-Pacific region, contributing significantly to overall growth[20] - A new strategic partnership was announced, expected to drive an additional $300 million in revenue over the next year[20] Transactions and Acquisitions - The company has not entered into any significant transactions or contracts where directors have a substantial interest during the reporting period[73] - The company is exploring potential acquisitions to strengthen its market position, with a focus on companies in the tech sector[20] - There were no major acquisitions or disposals of subsidiaries during the reporting period[53]

Financial Performance - The company recorded unaudited revenue of approximately HKD 10.98 million for the six months ended September 30, 2021, representing an increase of approximately 51.67% compared to the same period last year[4]. - The unaudited loss attributable to owners of the company was HKD 4.14 million, a slight improvement from a loss of HKD 4.30 million in the same period last year[5]. - Basic and diluted loss per share for the six months ended September 30, 2021, was approximately HKD 1.03, compared to HKD 1.07 for the same period in 2020[6]. - The total comprehensive loss for the period was HKD 4,148,000, which is a decrease from the loss of HKD 4,295,000 reported for the same period in 2020, reflecting a slight improvement in financial performance[18]. - The group reported a loss attributable to owners of the company of HKD 4,148,000 for the six months ended September 30, 2021, compared to a loss of HKD 4,295,000 for the same period in 2020, representing a decrease of approximately 3.4%[46]. - The basic loss per share for the six months ended September 30, 2021, was HKD 1.0370, slightly improved from HKD 1.0738 in 2020[46]. Assets and Liabilities - The company's total assets decreased to HKD 80.23 million as of September 30, 2021, down from HKD 88.78 million as of March 31, 2021[12]. - Total equity attributable to owners of the company was HKD 59.12 million as of September 30, 2021, compared to HKD 63.26 million as of March 31, 2021[12]. - The company’s total liabilities decreased to HKD 21.11 million as of September 30, 2021, down from HKD 25.52 million as of March 31, 2021[14]. - Trade receivables decreased significantly to HKD 8,655,000 as of September 30, 2021, from HKD 38,233,000 as of March 31, 2021, indicating a reduction of approximately 77.3%[49]. - The group reported trade payables of HKD 4,258,000 as of September 30, 2021, down from HKD 8,755,000 as of March 31, 2021, reflecting a decrease of approximately 51.3%[53]. Cash Flow and Management - For the six months ended September 30, 2021, the company reported a cash outflow from operating activities of HKD 325,000, compared to an outflow of HKD 6,886,000 in the same period of 2020, indicating an improvement in cash flow management[18]. - As of September 30, 2021, the company's cash and cash equivalents decreased to HKD 2,335,000 from HKD 6,884,000 at the end of the previous year, indicating a need for better liquidity management[18]. - The company’s cash and cash equivalents stood at HKD 2.34 million as of September 30, 2021, compared to HKD 2.66 million as of March 31, 2021[12]. - The company has implemented credit policies to monitor credit risks associated with cash and cash equivalents, trade receivables, and other receivables[86]. - The company maintains cash and cash equivalents at levels deemed sufficient to support operations and reduce cash flow volatility[87]. Revenue and Expenses - The company reported a gross profit of HKD 3.71 million for the six months ended September 30, 2021, compared to HKD 3.81 million for the same period last year[9]. - Total expenses for the six months ended September 30, 2021, were HKD 14,711,000, an increase of 21% compared to HKD 12,217,000 in the same period of 2020[37]. - The sales cost rose by 111.66% from HKD 3.43 million to HKD 7.26 million, attributed to an increase in the number of projects provided during the period[64]. - Gross profit decreased by 2.36% from HKD 3.80 million to HKD 3.71 million due to the increased sales cost and reduced technical services[65]. - Administrative expenses decreased by 20.59% from HKD 6.41 million to HKD 5.09 million, mainly due to a reduction in professional fees and R&D expenses[69]. Market and Operational Strategy - The company actively expanded its market presence to mitigate the impact of the pandemic and continuously secured new orders[4]. - The company continues to explore opportunities for market expansion and new product development to enhance revenue streams in the future[18]. - The company focuses on providing smart manufacturing solutions, particularly in precision 3D inspection and precision machining solutions[59]. - The primary customers are high-end equipment manufacturers in industries such as aerospace, shipbuilding, and electronics, indicating a focus on advanced manufacturing solutions[85]. - The company plans to enhance R&D efforts by establishing its own R&D center and hiring more technical talent to maintain technological leadership and competitiveness[85]. Tax and Compliance - The company plans to report income generated during the year as offshore income, pending approval from the Hong Kong tax authority[41]. - The company has not recognized any tax expense related to other comprehensive income for the six months ended September 30, 2021[40]. - The group has been granted a preferential corporate income tax rate of 15% for its subsidiary in China, Guangzhou Kuike Electromechanical Technology Co., Ltd., which is valid until December 2023[13]. - The company has complied with the GEM Listing Rules regarding corporate governance practices[102]. Corporate Governance - The audit committee was established on March 26, 2018, to oversee financial reporting and internal control systems[108]. - The group reported interim results for the six months ended September 30, 2021, reviewed by the audit committee on October 27, 2021[109]. - The board does not recommend an interim dividend for the six months ended September 30, 2021, consistent with the previous period[104]. - The group did not declare an interim dividend for the six months ended September 30, 2021, consistent with the previous year[44].

Financial Performance - The company recorded unaudited revenue of approximately HKD 6.6 million for the three months ended June 30, 2021, representing an increase of approximately 161.1% compared to the same period last year[3]. - The unaudited loss attributable to owners of the company for the same period was HKD 2.1 million, slightly higher than the loss of HKD 2.0 million in the previous year, primarily due to a decrease in gross profit[3]. - Basic and diluted loss per share for the three months ended June 30, 2021, was approximately HKD 0.52, compared to HKD 0.50 for the same period in 2020[4]. - The company's gross profit for the three months ended June 30, 2021, was HKD 2.15 million, compared to HKD 1.97 million in the previous year[7]. - The company reported an operating loss of HKD 1.49 million for the three months ended June 30, 2021, an improvement from the operating loss of HKD 2.26 million in the same period last year[7]. - Revenue from precision 3D inspection solutions increased from HKD 2.5 million in the three months ended June 30, 2020, to HKD 6.6 million in the same period of 2021, primarily due to an increase in contract value for executed projects[31]. - Sales cost increased by 698.4% from HKD 0.5 million for the three months ended June 30, 2020, to HKD 4.4 million for the three months ended June 30, 2021, primarily due to higher equipment costs for solution projects[32]. - Gross profit increased by 9.1% from HKD 2.0 million for the three months ended June 30, 2020, to HKD 2.1 million for the three months ended June 30, 2021, while gross margin decreased from 77.9% to 32.6%[33]. - The company recorded a loss of HKD 2.1 million for the three months ended June 30, 2021, compared to a loss of HKD 2.0 million for the same period in 2020, with the increase in loss attributed to the decrease in gross profit[38]. Revenue Breakdown - Total revenue from precision 3D inspection solutions was HKD 6.6 million, with equipment sales contributing HKD 4.85 million and technical services contributing HKD 1.74 million[17]. - Revenue from static 3D scanning was HKD 6.6 million, significantly up from HKD 2.31 million in the previous year[17]. Expenses and Investments - Sales and marketing expenses for the period were HKD 1.08 million, an increase from HKD 0.997 million in the previous year[7]. - Administrative expenses decreased by 15.6% from HKD 3.2 million for the three months ended June 30, 2020, to HKD 2.7 million for the three months ended June 30, 2021, mainly due to reduced R&D expenses[36]. - The company has not made any significant investments or acquisitions during the three months ended June 30, 2021[47][49]. Future Plans and Strategy - The company aims to continue organic expansion and enhance market competitiveness while increasing its talent pool for future business growth[28]. - The company plans to invest in research and development to strengthen its core technologies and enhance competitiveness[28]. - The company expects to promote its integrated smart manufacturing solutions and solidify its market position and customer confidence[28]. - The company plans to enhance R&D efforts and establish its own R&D center to maintain technological leadership and competitiveness in the rapidly changing smart manufacturing solutions market[51]. - The company is increasing sales and marketing efforts to expand its sales team and coverage area to win new contracts and increase market share[51]. Corporate Governance - The company has not adopted any new accounting standards that would have a significant impact on its financial performance or position[13]. - The financial results are prepared in accordance with applicable Hong Kong Financial Reporting Standards and have been approved by the board of directors on August 9, 2021[12]. - The company did not recommend any interim dividend for the three months ended June 30, 2021, consistent with the previous year[23]. - The board does not recommend the payment of an interim dividend for the three months ended June 30, 2021, consistent with the previous year[72]. - The company has adopted the trading standards as per GEM Listing Rules for its directors, confirming compliance as of June 30, 2021[71]. - The chairman and CEO roles are held by the same individual, Mr. Ng, which the company believes provides strong leadership[69]. Shareholder Information - As of June 30, 2021, major shareholder IFG Swans holds 293,940,000 shares, representing 73.49% of the issued share capital[60]. - There were no options granted, exercised, cancelled, or lapsed under the share option scheme from its adoption date until June 30, 2021[63]. - There were no shareholdings or short positions in the company's shares or related securities that required disclosure under the Securities and Futures Ordinance as of June 30, 2021[60]. - The company had no significant contingent liabilities, capital commitments, or asset pledges as of June 30, 2021[40][41][42]. - The company had a total of 23 employees as of June 30, 2021, down from 25 in 2020, emphasizing the importance of talent retention and competitive compensation[50]. Audit and Compliance - The audit committee reviewed the quarterly results and the report on August 9, 2021[73]. - The company did not engage in any related party transactions or continuing connected transactions during the reporting period[66]. - The company has no knowledge of any other person or entity holding interests that require disclosure under the Securities and Futures Ordinance as of June 30, 2021[60].

Financial Performance - For the fiscal year ending March 31, 2021, the company reported revenue of approximately HKD 40.0 million, a decrease of 27.2% compared to the previous year[11]. - The company recorded a loss attributable to shareholders of approximately HKD 3.3 million due to operational disruptions caused by the global pandemic[11]. - The group's revenue for the year ended March 31, 2021, was approximately HKD 40.0 million, a decrease of 27.2% from HKD 54.9 million for the year ended March 31, 2020[18]. - Revenue from precision 3D inspection solutions decreased from HKD 54.9 million to HKD 40.0 million, primarily due to a reduction in sales of HKD 14.9 million[19]. - Gross profit decreased from HKD 31.1 million to HKD 16.4 million, representing a decline of 47.4%, with the gross margin dropping from 56.7% to 41.0%[21]. - The net loss for the year ended March 31, 2021, was HKD 3.3 million, a decrease of 206.4% from a net profit of HKD 3.1 million for the year ended March 31, 2020[27]. - The group's net current assets as of March 31, 2021, were approximately HKD 50.0 million, down from HKD 57.6 million as of March 31, 2020[29]. - The group had cash and cash equivalents of approximately HKD 2.7 million as of March 31, 2021, compared to HKD 13.1 million as of March 31, 2020[30]. - The net debt-to-equity ratio as of March 31, 2021, was 8%, compared to zero as of March 31, 2020[28]. Business Operations and Strategy - The company successfully secured 18 new projects during the year and completed 12 new projects along with 14 ongoing projects from previous years[15]. - As of March 31, 2021, the company had 7 ongoing projects, all related to precision 3D scanning solutions[15]. - The company aims to continue expanding its market presence and developing advanced new products and technologies to enhance its solution offerings and reduce project costs[12]. - The company is optimistic about the future of the smart manufacturing solutions industry in China despite potential economic downturns[12]. - The company plans to improve operational efficiency across its business units to enhance profitability and core competitiveness[12]. - The company will actively seek potential business opportunities to create more value for shareholders[12]. - The group plans to expand its business and increase market share while investing in research and development to enhance its core technology[16]. - The group will continue to monitor the impact of the ongoing pandemic on its business performance and adapt accordingly[16]. - The group is increasing its sales and marketing efforts, expanding its sales team and coverage areas to secure new contracts and maintain business activity levels[44]. Research and Development - The company holds a total of 16 registered patents, including 6 invention patents and 10 utility model patents, with an additional 8 invention patents in the registration phase[15]. - The group has established its own R&D center and has acquired necessary equipment and software, resulting in the addition of 6 invention patents and 3 utility model patents since its listing, with 9 invention patents and 8 utility model patents currently in the registration stage[42]. - The group plans to enhance its R&D efforts and recruit more talented technical personnel to maintain its technological leadership[44]. - The company is investing in R&D, with a budget allocation of $EE million, focusing on innovative technologies and product enhancements[62]. Corporate Governance - The management team emphasized the importance of corporate governance, adhering to GEM listing rules to ensure transparency and accountability[71]. - The company has maintained compliance with trading standards, confirming that all directors adhered to the required trading regulations during the fiscal year[76]. - The board of directors is set for re-election, with all members eligible for another term, ensuring continuity in leadership[74]. - The board of directors held 5 meetings in the fiscal year ending March 31, 2021, with full attendance from executive directors[83]. - The audit committee conducted 4 meetings during the same period, focusing on financial reporting and risk management[89]. - The remuneration committee held 1 meeting to review the compensation policies for directors and senior management[92]. - The nomination committee also convened 1 meeting to assess the board's structure and diversity[96]. - The audit committee is composed of three independent non-executive directors, ensuring oversight of financial integrity[88]. - The remuneration committee's recommendations are based on directors' responsibilities and performance metrics[91]. - The nomination committee evaluates candidates based on reputation, experience, and ability to contribute to the board[98]. - The board has adopted a nomination policy to ensure a structured approach to selecting suitable candidates[97]. - The company has established specific committees to enhance governance and oversight of key operational areas[84]. - The board is committed to maintaining effective governance practices and ensuring alignment with shareholder interests[82]. Compliance and Risk Management - The company has implemented a risk management policy to address various identified risks, including operational and credit risks[115]. - The company has not experienced any non-compliance issues that would significantly impact its business or the ability of directors and senior management to operate compliantly during the year[115]. - The compliance advisor has been appointed in accordance with GEM Listing Rules since April 20, 2018, with a term that can be extended by mutual agreement[105]. - The company has established an internal control system deemed sufficient and effective for its operations as of March 31, 2021[117]. - The company has appointed RaffAello Capital Limited as a compliance advisor to ensure adherence to GEM listing rules[119]. Employee Relations and Compensation - The group had a total of 25 employees, consistent with the previous year[137]. - The group contributed HKD 103,000 to the retirement benefits plan for the year ended March 31, 2021, a decrease of 75.5% from HKD 419,000 in 2020[137]. - The company has adopted a stock option plan to incentivize employees, details of which are available in the annual report[138]. - The company has established long-term employment contracts of four years or more with all senior management to ensure stability[137]. - The company has implemented performance reviews to assess annual bonuses, salary adjustments, and promotions for employees[138]. Shareholder Information - The available distributable reserves for shareholders as of March 31, 2021, amounted to HKD 35,976,007[144]. - The company has no plans for share buybacks or securities repurchases during the year ended March 31, 2021[159]. - The company has a shareholding structure where Mr. Ng holds 293,940,000 shares, representing 73.49% of the issued shares[169]. - The company has adopted a share option scheme with a limit of 10% of the total issued shares, equating to 40,000,000 shares[178]. - The board of directors will consider various factors, including financial performance and future expansion plans, when proposing dividends[167]. - The company’s dividend policy is subject to the board's discretion and compliance with applicable laws and regulations[167]. Legal and Regulatory Matters - The company has not encountered any significant legal violations or regulatory issues affecting its business as of March 31, 2021[133]. - The company confirmed compliance with the non-competition agreement by its controlling shareholders as of March 31, 2021[184]. - The company has maintained appropriate insurance arrangements for its directors and senior management against legal claims arising from corporate activities[186]. - The company has not engaged in any competitive business activities that could conflict with its operations as of March 31, 2021[183]. - No related party transactions or continuing connected transactions were conducted during the fiscal year ending March 31, 2021[188]. Customer and Supplier Relations - Approximately 70.0% of total revenue for the year ended March 31, 2021, came from the top five customers, with the largest customer accounting for about 21.0%[157]. - The group’s procurement from the top five suppliers accounted for approximately 50.0% of total procurement, with the largest supplier representing about 21.1%[157]. - The company has maintained good relationships with suppliers, with no complaints or debt disputes reported as of March 31, 2021[136]. - There were no significant disputes with employees, customers, or suppliers as of March 31, 2021, ensuring smooth business operations[136]. Environmental and Social Responsibility - The company is committed to environmental protection and compliance with relevant laws and regulations[132]. - The company has a shareholder communication policy in place to enhance engagement with shareholders and investors[121].