Core Insights - The company reported a revenue of 72.23 million, representing a year-on-year decrease of 12.81% [1] - The net profit for the period was 29.029 million, showing a significant year-on-year increase of 209.31% [1] - Basic earnings per share were recorded at 6.23 cents [1] Financial Performance - Revenue: 72.23 million, down 12.81% year-on-year [1] - Net Profit: 29.029 million, up 209.31% year-on-year [1] - Basic Earnings per Share: 6.23 cents [1]

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主板上 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。 CHINA HONGGUANG HOLDINGS LIMITED 中國宏光控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號: 8646 2025 中期報告 香港聯合交易所有限公司（「聯交所」）GEM之特色 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之 證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市 場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本報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。 本報告資料乃遵照聯交所GEM證券上巿規則（「GEM上市規則」）的規定而刊載，旨在 提供有關中國宏光控股有限公司（「本公司」連同附屬公司，統稱「本集團」）的資料； 本公司董事（統稱「董事」，各為一名「董事」）願就本報告共同及個別承擔全部責任。 各董事在作出一切合理查詢 ...

Company Information [Board of Directors and Committees](index=5&type=section&id=執行董事及獨立非執行董事) This section outlines the composition of the company's board, including executive and independent non-executive directors, and changes in audit, remuneration, and nomination committee members - Executive Directors: Mr. Wei Jiakun (CEO), Ms. Lin Weishan (Chairperson), Ms. Li Wanna[11](index=11&type=chunk) - Independent Non-Executive Directors: Ms. Mao Shue (appointed on March 25, 2025), Mr. Jia Xiaogang, Mr. Wu Yong[11](index=11&type=chunk) - Audit Committee Chairman: Ms. Mao Shue (appointed on March 25, 2025), Ms. Chen Xiuyan resigned[11](index=11&type=chunk) [Company Contact and Registration Information](index=5&type=section&id=公司聯絡及註冊信息) This section provides detailed contact and registration information for the company, including its registered office, principal place of business, joint company secretaries, authorized representatives, compliance officer, auditor, share registrar, and principal bankers - Registered Office: Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman, KY1-1111, Cayman Islands[11](index=11&type=chunk) - Principal Place of Business in Hong Kong: Units 1202, 1204–06, 12th Floor, Chinese Bank Building, 61 Des Voeux Road Central, Hong Kong[12](index=12&type=chunk) - Auditor: Zhongzheng Tianheng Certified Public Accountants Limited[11](index=11&type=chunk) - Stock Code: 8646[13](index=13&type=chunk) Interim Unaudited Results [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=7&type=section&id=簡明綜合損益及其他全面收益表) This statement reports the unaudited condensed consolidated profit or loss and other comprehensive income for the six months ended June 30, 2025, showing significant profit growth but increased other comprehensive loss during the period Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income Summary | Indicator | Six Months Ended June 30, 2025 (RMB '000) | Six Months Ended June 30, 2024 (RMB '000) | Change (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 72,230 | 82,846 | (10,616) | -12.81% | | Cost of Sales | (49,416) | (62,686) | 13,270 | -21.17% | | Gross Profit | 22,814 | 20,160 | 2,654 | 13.16% | | Other Net Income | 16,583 | 737 | 15,846 | 2149.93% | | Operating Profit | 33,293 | 13,284 | 20,009 | 150.62% | | Profit Before Tax | 31,407 | 11,081 | 20,326 | 183.43% | | Income Tax Expense | (2,378) | (1,696) | (682) | 40.21% | | Profit for the Period | 29,029 | 9,385 | 19,644 | 209.31% | | Basic and Diluted Earnings Per Share (RMB cents) | 6.32 | 2.04 | 4.28 | 209.80% | | Total Comprehensive Income for the Period | 28,308 | 8,905 | 19,403 | 217.89% | [Condensed Consolidated Statement of Financial Position](index=9&type=section&id=簡明綜合財務狀況表) As of June 30, 2025, the company's net assets and total equity increased, with a significant improvement in net current assets, reflecting a robust financial position Condensed Consolidated Statement of Financial Position Summary | Indicator | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | Change (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Non-current Assets | 62,093 | 65,315 | (3,222) | -4.93% | | Current Assets | 470,257 | 403,376 | 66,881 | 16.58% | | Current Liabilities | 155,868 | 122,641 | 33,227 | 27.09% | | Net Current Assets | 314,389 | 280,735 | 33,654 | 11.99% | | Total Assets Less Current Liabilities | 376,482 | 346,050 | 30,432 | 8.79% | | Non-current Liabilities | 6,383 | 4,259 | 2,124 | 49.87% | | Net Assets | 370,049 | 341,791 | 28,258 | 8.27% | | Total Equity | 370,099 | 341,791 | 28,308 | 8.28% | [Condensed Consolidated Statement of Changes in Equity](index=11&type=section&id=簡明綜合權益變動表) For the six months ended June 30, 2025, the company's total equity increased from RMB 341,791 thousand at the beginning of the period to RMB 370,099 thousand at the end, primarily due to profit for the period of RMB 29,029 thousand, despite other comprehensive losses - Profit for the period: **RMB 29,029 thousand** (2024: RMB 9,385 thousand)[22](index=22&type=chunk) - Other comprehensive loss: **RMB (721) thousand** (2024: RMB (480) thousand)[22](index=22&type=chunk) - Total comprehensive income for the period: **RMB 28,308 thousand** (2024: RMB 8,905 thousand)[22](index=22&type=chunk) - Total equity as of June 30, 2025: **RMB 370,099 thousand** (December 31, 2024: RMB 341,791 thousand)[22](index=22&type=chunk) [Condensed Consolidated Statement of Cash Flows](index=12&type=section&id=簡明綜合現金流量表) For the six months ended June 30, 2025, net cash from operating activities significantly increased, but the net increase in cash and cash equivalents turned into a net decrease, resulting in a lower cash balance at period-end Condensed Consolidated Statement of Cash Flows Summary | Indicator | Six Months Ended June 30, 2025 (RMB '000) | Six Months Ended June 30, 2024 (RMB '000) | Change (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Net Cash (Used In) / From Operating Activities | 45,303 | 851 | 44,452 | 5223.50% | | Net Cash From Investing Activities | – | 1 | (1) | -100.00% | | Net Cash From Financing Activities | 44,183 | 833 | 43,350 | 5204.08% | | Net Increase (Decrease) in Cash and Cash Equivalents | (1,120) | 1,685 | (2,805) | -166.47% | | Cash and Cash Equivalents at End of Period | 1,408 | 2,852 | (1,444) | -50.63% | [Notes to the Condensed Consolidated Interim Financial Information](index=13&type=section&id=未經審核簡明綜合業績附註) This section provides supplementary information for the interim results, including detailed accounting policies, revenue breakdown, expense composition, taxation, earnings per share, balance sheet item changes, and share capital information [General Information and Accounting Policies](index=13&type=section&id=一般資料及會計政策) This section describes the company's registration details and primary business (manufacturing and selling architectural glass products), confirming that the interim report is prepared in accordance with IFRS and the Hong Kong Companies Ordinance on a historical cost basis - The company was incorporated in the Cayman Islands on May 25, 2017, and its shares have been listed on the GEM of the Hong Kong Stock Exchange since January 13, 2020[26](index=26&type=chunk) - Principal business: Manufacturing and selling architectural glass products in China[26](index=26&type=chunk) - Financial statements prepared in accordance with International Financial Reporting Standards and the disclosure requirements of the Hong Kong Companies Ordinance, and in compliance with the GEM Listing Rules[27](index=27&type=chunk) [Revenue and Segment Reporting](index=15&type=section&id=收益及分部報告) This section discloses that the company's revenue primarily derives from selling glass products in China, broken down by product line, showing energy-saving and safety glass products as the main revenue source, but with significant growth in smart glass products revenue; the company operates in a single operating segment Revenue from Contracts with Customers by Major Product Line | Product Line | Six Months Ended June 30, 2025 (RMB '000) | Six Months Ended June 30, 2024 (RMB '000) | Change (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Sales of energy-saving and safety glass products | 67,721 | 81,690 | (13,969) | -17.10% | | Sales of smart glass products | 4,509 |

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，概不對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。 China Hongguang Holdings Limited 中國宏光控股有限公司 (於開曼群島註冊成立之有限公司） (股份代號: 8646) 中國宏光控股有限公司（「本公司」）董事會 (「董事會」）謹此宣佈，本公司將 於二零二五年八月二十九日（星期五）舉行董事會會議，藉以（其中包括）考慮 及批准本公司及其附屬公司截至二零二五年六月三十日止六個月之未經審核簡 明綜合業績，以及考慮派發中期股息（如有）。 承董事會命 中國宏光控股有限公司 主席兼執行董事 林偉珊 香港，二零二五年八月十九日 於本公告日期，執行董事為魏佳坤先生、林偉珊女士及李婉娜女士；以及獨立非執行董 事為毛淑娥女士、賈小剛先生及吳勇先生。 本公告資料乃遵照香港聯合交易所有限公司 ( 「聯交所」 )GEM 證券上巿規則的規定而刊 載，旨在提供有關本公司的資料；本公司各董事願就本公告共同及個別承擔全部責任。 各董事在作出一切合理查詢後，確認 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國宏光控股有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08646 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 | HKD | | 10,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 | HKD | | 10,000,000 | 本月底法定/註冊股本 ...

Group 1 - The Hang Seng Index rose by 2.4% to close at 21,417.4 points on April 14 [1] - China Hongguang's stock price increased by 17.65% to HKD 0.26 per share, with a trading volume of 11.508 million shares and a turnover of HKD 2.4737 million, showing a volatility of 29.86% [1] - Over the past month, China Hongguang has experienced a cumulative decline of 13.33%, and a year-to-date decline of 35%, underperforming the Hang Seng Index by 4.26% [1] Group 2 - For the fiscal year ending December 31, 2024, China Hongguang reported total revenue of HKD 242 million, representing a year-on-year growth of 11.54% [1] - The company recorded a net profit attributable to shareholders of HKD 21.141 million, a decrease of 40.83% year-on-year, with a gross margin of 26.06% and a debt-to-asset ratio of 27.08% [1] - Currently, there are no institutional investment ratings for China Hongguang [1] Group 3 - China Hongguang primarily manufactures and sells architectural glass products in South China, including energy-saving safety glass and smart glass products [2] - The company offers two main categories of products: (i) energy-saving safety glass products, such as coated glass, insulated glass, laminated glass, and tempered glass; and (ii) smart glass products, specifically dimmable glass [2] - The company's products are used in various construction structures, including curtain wall installations and internal partitions, and can be further processed into optical lenses and screen protectors [2]

Business Strategy and Market Position - The company aims to enhance its market position in the construction glass industry and expand its domestic market share to seize future growth opportunities[12]. - The company plans to continuously seek acquisition or investment opportunities to enhance its risk resilience and drive new growth momentum[13]. - The company is committed to leveraging the substantial development potential of the construction glass industry and related sectors[12]. - The company will maintain a diversified product mix to meet different customer needs and specifications[15]. Product and Revenue Overview - The revenue is generated from two main product types: energy-saving safety glass products and smart glass products[17]. - The product portfolio includes coated glass, insulated glass, laminated glass, tempered glass, and smart glass, which helps improve profitability and adapt to market trends[15]. - Total revenue increased by 11.54% from RMB 217,142 thousand in 2023 to RMB 242,203 thousand in 2024, primarily due to growth in smart glass product sales[18]. - Revenue from energy-saving safety glass products was RMB 219,979 thousand, accounting for 90.82% of total revenue, while smart glass product revenue rose to RMB 22,224 thousand from RMB 1,057 thousand[18]. Financial Performance - Gross profit decreased from RMB 63,763 thousand in 2023 to RMB 63,116 thousand in 2024, with a gross margin of 26.1% compared to 29.4% in the previous year[19]. - Net profit after tax decreased by approximately 40.8% from RMB 35,728 thousand in 2023 to RMB 21,141 thousand in 2024, mainly due to increased expenses[27]. - Basic earnings per share for 2024 was RMB 0.049, compared to RMB 0.082 in 2023, a decrease of 40.2%[195]. Expenses and Cost Management - Other net income increased significantly from RMB 2,067 thousand in 2023 to RMB 6,185 thousand in 2024, mainly due to government subsidies rising from RMB 1,717 thousand to RMB 5,813 thousand[20]. - Selling and marketing expenses rose from RMB 500 thousand in 2023 to RMB 563 thousand in 2024, attributed to increased marketing service fees[22]. - General and administrative expenses surged from RMB 21,381 thousand in 2023 to RMB 40,987 thousand in 2024, primarily due to listing costs and increased impairment losses[23]. Corporate Governance - The board of directors believes that sound corporate governance practices are essential for the sustainable development and protection of the company's interests and assets[55]. - The company has adopted the GEM Listing Rules and has complied with all applicable provisions of the corporate governance code[56]. - The board is responsible for maintaining proper accounting records to oversee and accurately disclose the financial position of the group[62]. - The company has appointed at least three independent non-executive directors, with at least one possessing appropriate professional qualifications or accounting expertise[60]. Risk Management and Compliance - The company has established a risk management system to identify and assess operational risks, with strategies in place for risk management[93]. - The company has implemented a whistleblowing policy to encourage employees to report any misconduct related to financial reporting and compliance[90]. - The board is responsible for maintaining effective risk management and internal control systems, with annual reviews conducted[95]. Shareholder Communication and Dividends - The company has implemented a shareholder communication policy to ensure effective communication with shareholders and stakeholders[105]. - The board does not recommend the payment of a final dividend for the year ending December 31, 2024, consistent with the previous year[117]. Employee and Gender Diversity - The company maintains a board composed of three female and three male directors, aiming to achieve gender equality by the end of 2025[85]. - As of December 31, 2024, the company has 64 employees, with 43 males and 21 females, indicating a satisfactory level of gender diversity[85]. Future Outlook - The company expects the economy in mainland China to rebound and restore robust growth in the coming years[13]. - The company is considering and recommending the board to approve the audited consolidated financial performance for the year ending December 31, 2023[75].

Company Overview - China Hongguang Holdings Limited aims to enhance its market position in the construction glass industry and expand domestic market share to seize future growth opportunities[17]. - The company was listed on the GEM of the Hong Kong Stock Exchange on January 13, 2020, marking a significant milestone in its development[17]. - The funds raised from the public offering and placement of shares will drive the future development of China Hongguang[17]. Financial Performance - Total revenue increased by 11.54% from RMB 217,142 thousand in 2023 to RMB 242,203 thousand in 2024, primarily due to growth in sales of smart glass products[23]. - Revenue from energy-saving safety glass products was RMB 219,979 thousand, accounting for 90.82% of total revenue in 2024, compared to 99.5% in 2023[23]. - Gross profit decreased from RMB 63,763 thousand in 2023 to RMB 63,116 thousand in 2024, with a gross margin of 26.1% in 2024, down from 29.4% in 2023[24]. - Net profit after tax decreased by approximately 40.8% from RMB 35,728 thousand in 2023 to RMB 21,141 thousand in 2024, primarily due to increased expenses[32]. - Total sales cost increased from RMB 153,379 thousand in 2023 to RMB 179,087 thousand in 2024[26]. - General and administrative expenses surged from RMB 21,381 thousand in 2023 to RMB 40,987 thousand in 2024, mainly due to increased listing costs and impairment losses[28]. - Other income increased from RMB 2,067 thousand in 2023 to RMB 6,185 thousand in 2024, mainly due to government subsidies rising from RMB 1,717 thousand to RMB 5,813 thousand[25]. - Basic earnings per share for 2024 were RMB 0.049, down from RMB 0.082 in 2023, reflecting a decline of 40.2%[200]. Assets and Liabilities - The company's net book value of properties, plants, and equipment as of December 31, 2024, is RMB 87,000, unchanged from 2023, and is used as collateral for bank loans amounting to RMB 37,200,000[40]. - The capital debt ratio as of December 31, 2024, is 21.2%, a decrease from 24.9% on December 31, 2023[48]. - The company has no significant acquisitions or investments during the reporting period[35]. - There are no contingent liabilities reported as of December 31, 2024, consistent with 2023[42]. - The company has no outstanding capital commitments as of December 31, 2024, with authorized but not contracted amounts at RMB 2,980,000, unchanged from 2023[47]. Governance and Management - The company has established a risk management system to identify, assess, and manage operational risks effectively[98]. - The board is responsible for maintaining proper accounting records to oversee and accurately disclose the financial status of the group[67]. - The company has mechanisms in place for directors to seek independent professional advice at the company's expense when necessary[75]. - The board consists of three female directors and three male directors, maintaining gender diversity in line with the company's policy[90]. - The company has established a stock option plan approved on June 30, 2023, aimed at attracting and retaining top talent, providing additional incentives, and driving business performance[158]. Shareholder Relations - The company has established multiple channels for ongoing communication with shareholders, including printed communications and annual general meetings[110]. - The board has reviewed the implementation and effectiveness of the shareholder communication policy, finding it to be well implemented and effective during the review year[111]. - The company has a policy for disclosing information to stakeholders, ensuring accurate and timely information dissemination[100]. Market and Industry Trends - The production of coated glass in China is expected to grow from 293 million square meters in 2018 to 427 million square meters in 2023, representing a compound annual growth rate (CAGR) of approximately 7.8%[123]. - Demand for smart glass in China is projected to increase significantly, with the production of switchable glass expected to rise from 254,000 square meters in 2018 to 675,000 square meters in 2023, reflecting a CAGR of 21.6%[123]. Compliance and Risk Management - The company closely monitors government policies and regulations to mitigate risks associated with compliance[39]. - The company has adopted internal control policies to ensure effective operations and compliance with applicable laws and regulations[99]. - The company has implemented a whistleblowing policy to encourage employees to report any misconduct related to financial reporting and compliance[95]. Charitable Contributions - The group made charitable donations totaling RMB 28,000 for the year ending December 31, 2024, compared to RMB 29,688 in 2023[127].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 82,846,000, an increase of 3.34% compared to RMB 80,153,000 for the same period in 2023[4] - Gross profit decreased to RMB 20,160,000, down 22.83% from RMB 26,123,000 in the previous year[4] - Operating profit for the period was RMB 13,284,000, a decline of 39.06% from RMB 21,851,000 in 2023[4] - Profit before tax was RMB 11,081,000, down 43.06% from RMB 19,431,000 in the same period last year[4] - Net profit for the period was RMB 9,385,000, a decrease of 44.51% compared to RMB 16,875,000 in 2023[5] - Basic and diluted earnings per share were RMB 2.04, down from RMB 4.23 in the previous year[4] - The company reported a total comprehensive income of RMB 8,905,000 for the six months ended June 30, 2024, compared to RMB 14,705,000 in the same period of 2023, indicating a decrease of approximately 39.8%[15] Revenue Breakdown - For the six months ended June 30, 2024, the revenue from energy-saving safety glass products was RMB 81,690,000, representing an increase from RMB 68,792,000 in the same period of 2023, which is approximately a 18.5% growth[22] - Revenue from energy-saving safety glass products was RMB 81,690 thousand, accounting for 99% of total revenue, compared to RMB 79,096 thousand in the previous year[62] - Total revenue increased by 3.36% from RMB 80,153 thousand in the six months ended June 30, 2023, to RMB 82,846 thousand in the six months ended June 30, 2024, primarily due to increased sales of energy-saving safety glass products[63] Cash Flow and Liquidity - The net cash generated from operating activities for the six months ended June 30, 2024, was RMB 851,000, a significant improvement compared to a net cash outflow of RMB (9,695,000) in the same period of 2023[16] - The net increase in cash and cash equivalents for the six months ended June 30, 2024, was RMB 1,685,000, compared to a decrease of RMB (5,886,000) in the same period of 2023[16] - The financing activities generated a net cash inflow of RMB 833,000 for the six months ended June 30, 2024, compared to a net cash outflow of RMB (2,116,000) in the same period of 2023[16] - As of June 30, 2024, the current ratio was 3.53, up from 3.23 at the end of 2023, indicating improved liquidity[76] Assets and Liabilities - Total assets less current liabilities amounted to RMB 338,494,000, an increase from RMB 324,849,000 as of December 31, 2023[7] - Inventory increased to RMB 171,523,000 from RMB 160,190,000 in the previous year[7] - Cash and cash equivalents rose to RMB 383,055,000 from RMB 369,229,000 as of December 31, 2023[7] - Trade and other payables decreased to RMB 17,631,000 from RMB 28,308,000 in the previous year[7] - Trade receivables totaled RMB 153,959,000 as of June 30, 2024, up from RMB 136,918,000 at the end of 2023, an increase of 12.4%[38] - Current liabilities totaled RMB 65,600 as of June 30, 2024, up from RMB 62,400 as of December 31, 2023[43] Cost and Expenses - Gross profit decreased from RMB 26,123 thousand (32.6% margin) to RMB 20,160 thousand (24.3% margin), attributed to intense product price competition[64] - Selling costs rose from RMB 54,030 thousand to RMB 62,686 thousand, mainly due to increased sales volume[66] - Employee costs increased from RMB 2,497 thousand to RMB 2,692 thousand[70] - Research and development costs increased to RMB 6,012,000 in 2024 from RMB 5,677,000 in 2023, representing an increase of 5.9%[31] Shareholder Information - As of June 30, 2024, Mr. Wei and Ms. Lin each hold 249,750,000 shares, representing 54.41% ownership[94] - Bright Global Limited, controlled by the Wei family trust, holds 249,750,000 shares, also representing 54.41% ownership[97] - The company did not declare any dividends for the six months ended June 30, 2024, consistent with the previous year[56] Corporate Governance - The company has adopted a code of conduct for securities transactions by directors, ensuring compliance with GEM Listing Rules[94] - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring compliance and high standards of governance[106] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2024, confirming compliance with applicable accounting standards and GEM Listing Rules[109] Market Outlook - The production of coated glass in China is expected to grow from 130.8 million square meters in 2021 to 171.6 million square meters by 2026, representing a compound annual growth rate (CAGR) of approximately 5.6%[93] - Demand for smart glass is projected to increase significantly, with the production of dimmable glass expected to rise from 513,800 square meters in 2021 to 1,496,500 square meters by 2026, reflecting a CAGR of 23.8%[93]

Financial Performance - For the six months ended June 30, 2024, the revenue was RMB 82,846,000, an increase of 3.3% compared to RMB 80,153,000 for the same period in 2023[5] - The gross profit for the same period was RMB 20,160,000, down 22.8% from RMB 26,123,000 in 2023[5] - Operating profit decreased to RMB 13,284,000, a decline of 39.1% from RMB 21,851,000 in the previous year[5] - Profit before tax was RMB 11,081,000, down 43.1% from RMB 19,431,000 in 2023[5] - The net profit for the period was RMB 9,385,000, a decrease of 44.4% compared to RMB 16,875,000 in the same period last year[5] - Basic and diluted earnings per share were RMB 2.04, down from RMB 4.23 in 2023[5] - Total comprehensive income for the period was RMB 8,905,000, down from RMB 14,705,000 in the previous year, reflecting a decline of 39.9%[7] Cost and Expenses - The cost of sales increased to RMB 62,686,000, up from RMB 54,030,000, reflecting a rise in operational costs[5] - Other net income decreased significantly to RMB 737,000 from RMB 3,581,000 in the previous year[5] - Selling and marketing expenses rose to RMB 151,000, compared to RMB 62,000 in 2023, indicating increased investment in marketing efforts[5] - General and administrative expenses slightly decreased to RMB 7,462,000 from RMB 7,791,000, showing cost control measures[5] - Research and development costs for the six months ended June 30, 2024, amounted to RMB 6,012,000, an increase of 5.9% from RMB 5,677,000 in the same period of 2023[32] - Employee costs rose to RMB 2,692,000 from RMB 2,497,000 in the previous year[71] Assets and Liabilities - Non-current assets as of June 30, 2024, amounted to RMB 64,000,000, a decrease from RMB 69,785,000 as of December 31, 2023, representing a reduction of 8.0%[8] - Inventory increased to RMB 171,523,000 from RMB 160,190,000, indicating a rise of 7.9%[8] - Trade receivables totaled RMB 153,959,000 as of June 30, 2024, up from RMB 136,918,000 as of December 31, 2023, marking an increase of about 12.4%[39] - Current liabilities, including bank loans, increased to RMB 65,600,000 as of June 30, 2024, compared to RMB 62,400,000 as of December 31, 2023, reflecting a growth of approximately 3.5%[44] - The total trade and other payables decreased to RMB 17,631,000 as of June 30, 2024, from RMB 28,308,000 as of December 31, 2023, indicating a reduction of approximately 37.7%[42] Cash Flow - Cash and cash equivalents at the end of the period were RMB 2,852,000, compared to RMB 1,167,000 at the beginning of the period, showing an increase of 143.8%[17] - Net cash generated from operating activities was RMB 851,000, a significant improvement from a net cash outflow of RMB 9,695,000 in the same period last year[17] - The company reported a net increase in cash and cash equivalents of RMB 1,685,000 for the period, compared to a decrease of RMB 5,886,000 in the previous year[17] Shareholder Information - The weighted average number of ordinary shares issued increased to 458,990,000 shares from 399,331,000 shares, reflecting a growth of approximately 14.9%[35] - The company holds 249,750,000 shares, representing 54.41% ownership, held through Bright Global Limited, which is fully owned by Wei Family Limited[98] Corporate Governance - The company is committed to improving corporate governance practices and believes that sound governance is crucial for sustainable development[107] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2024, and confirmed compliance with applicable accounting standards and GEM listing rules[110] - The company has adopted the corporate governance code as per GEM listing rules and has complied with all applicable provisions during the reporting period[107] Market and Industry Outlook - China's coated glass production is expected to grow from 130.8 million square meters in 2021 to 171.6 million square meters by 2026, with a compound annual growth rate (CAGR) of approximately 5.6%[94] - Demand for smart glass in new buildings is strong, with production expected to rise from 513,800 square meters in 2021 to 1,496,500 square meters by 2026, reflecting a CAGR of 23.8%[94] Dividend Policy - The company does not recommend any dividend distribution for the six months ended June 30, 2024, consistent with the previous year[57] - The board does not recommend the distribution of an interim dividend for the six months ending June 30, 2024[111]