Fundraising and Allocation - The company raised a total of HKD 11,638,060 through the 2023 share subscription, with a net amount of HKD 11,558,060 after deducting related fees and expenses[1] - HKD 5,779,030 from the 2023 share subscription was used to repay borrowings, and another HKD 5,779,030 was allocated for general working capital[2] - The 2022 share subscription raised a net amount of HKD 39,600,000, with HKD 23,760,000 used for existing business maintenance and operations, including raw material purchases and equipment upgrades[2] - HKD 11,880,000 from the 2022 share subscription was allocated for purchasing new equipment capable of producing BIPV glass[2] - The remaining HKD 2,500,000 from the 2022 share subscription was used for general working capital in 2023[2]

Financial Performance - In 2023, the company's revenue increased by 4.07% compared to 2022, despite challenges in the real estate market[12]. - For the year ended December 31, 2023, total revenue increased by 4.07% to RMB 217,142 thousand from RMB 208,656 thousand in 2022, primarily due to growth in sales of energy-saving safety glass products[19]. - Revenue from energy-saving safety glass products was RMB 216,085 thousand, accounting for 99.5% of total revenue, compared to 98.6% in 2022[18]. - Gross profit decreased to RMB 63,763 thousand in 2023 from RMB 65,171 thousand in 2022, with a gross margin of 29.4%, down from 31.2%[20]. - Net profit after tax for the year ended December 31, 2023, was RMB 35,728 thousand, an increase of approximately 3.4% from RMB 34,560 thousand in 2022[28]. Expenses and Costs - Other income net decreased to RMB 2,067 thousand in 2023 from RMB 3,244 thousand in 2022, mainly due to a reduction in government subsidies[21]. - Selling costs increased to RMB 153,379 thousand in 2023 from RMB 143,485 thousand in 2022[22]. - Selling and marketing expenses rose to RMB 500 thousand in 2023 from RMB 304 thousand in 2022, attributed to increased marketing service fees[23]. - General and administrative expenses decreased significantly to RMB 21,381 thousand in 2023 from RMB 24,232 thousand in 2022[24]. Business Strategy and Market Position - The company aims to enhance its market position in the construction industry and expand its domestic market share[12]. - The company acquired a 5% stake in Xuan Yu Hao Cheng on December 29, 2023, to diversify its business and revenue sources[13]. - The company focuses on manufacturing and selling energy-saving safety glass and smart glass products under its "Hongguang" brand in South China[15]. - The product portfolio includes coated glass, insulated glass, laminated glass, tempered glass, and dimmable glass, catering to various customer needs[15]. - The company emphasizes strong R&D capabilities, particularly in patented technologies, to maintain product quality and adapt to market changes[15]. Corporate Governance - The company emphasizes the importance of high-level corporate governance for sustainable development and asset protection[68]. - The company has adopted the GEM Listing Rules and has complied with all applicable code provisions as of December 31, 2023[69]. - The board consists of seven members, including three independent non-executive directors, ensuring compliance with GEM listing rules[72][82]. - The board is responsible for maintaining proper accounting records and timely reporting of the company's financial status through quarterly, interim, and annual announcements[76]. - The company has established a clear separation of roles between the Chairman and the CEO to enhance independence and accountability[85]. Risk Management and Compliance - The company has established a risk management system to identify, assess, and manage various operational risks, ensuring effective internal controls[110]. - The board of directors is responsible for maintaining an effective risk management and internal control system, which is reviewed annually[112]. - The company emphasizes the importance of regulatory compliance and has allocated resources to ensure ongoing adherence to rules and regulations[170]. Shareholder and Capital Structure - The group's capital structure has remained unchanged since its listing on the GEM on January 13, 2020, with total equity solely composed of ordinary shares[41]. - A total of 59,990,000 shares were issued at a price of HKD 0.194 per share, raising approximately HKD 11,638,060, with net proceeds of about HKD 11,558,060 after expenses[42]. - The capital debt ratio as of December 31, 2023, was 24.9%, a decrease from 30.2% as of December 31, 2022[49]. - As of December 31, 2023, major shareholders Wei Jiakun and Lin Weishan each hold 249,750,000 shares, representing 54.41% ownership in the company[148]. Environmental and Social Responsibility - The company has adopted strict environmental protection measures to comply with current laws and regulations, including monitoring waste water discharge during production[169]. - The company reported a total charitable donation of RMB 29,688 for the year ending December 31, 2023, compared to RMB 13,300 in 2022[140]. - The company has maintained a healthy and safe working environment for employees, with no reported strikes or workplace accidents during the review year[173]. Future Plans and Investments - The company is continuously seeking acquisition or investment opportunities to enhance its risk resilience and drive growth[136]. - The company plans to enhance its R&D capabilities with 13.0% of the net proceeds, which is HKD 2.5 million (RMB 2.230 million)[185]. - The company aims to expand its sales and market reach with 5.7% of the net proceeds, equating to HKD 1.1 million (RMB 981,000)[185].

Financial Performance - China Hongguang Holdings Limited reported its annual financial performance for the year ending December 31, 2023[2]. - The company's revenue for the year ended December 31, 2023, increased by 4.07% to RMB 217,142 thousand from RMB 208,656 thousand in 2022[24]. - Revenue from energy-saving safety glass products accounted for 99.5% of total revenue, amounting to RMB 216,085 thousand, up from RMB 205,782 thousand in 2022[23]. - The gross profit decreased from RMB 65,171 thousand in 2022 to RMB 63,763 thousand in 2023, with a gross margin of 29.4% compared to 31.2% in the previous year[25]. - Other income net decreased from RMB 3,244 thousand in 2022 to RMB 2,067 thousand in 2023, primarily due to a reduction in government subsidies[26]. - The company's financing costs slightly increased from RMB 4,399 thousand in 2022 to RMB 4,402 thousand in 2023, mainly due to higher bank loan interest[30]. - The net profit after tax for the year ended December 31, 2023, was RMB 35,728 thousand, a 3.4% increase from RMB 34,560 thousand in 2022[33]. - The total sales cost increased from RMB 143,485 thousand in 2022 to RMB 153,379 thousand in 2023[27]. Corporate Governance - The company emphasizes continuous professional development for directors and senior management[83]. - The board consists of seven directors, three of whom are independent non-executive directors, meeting the requirement of at least one-third independence[87]. - The company has appointed at least three independent non-executive directors, with one possessing relevant professional qualifications[79]. - The board has mechanisms in place to ensure independent opinions are communicated effectively, enhancing decision-making[87]. - The company has established a code of conduct for directors that meets the standards set by the GEM Listing Rules[75]. - The board oversees the implementation of strategic plans to enhance shareholder value[80]. - The audit committee oversees the financial reporting process and internal control procedures[91]. - The company encourages all directors to express independent views and constructive inquiries during meetings[89]. Risk Management - The company has established a risk management system with policies and procedures related to procurement, production, sales performance, and product quality monitoring[115]. - The board is responsible for establishing and maintaining effective risk management and internal control systems, which are reviewed annually[117]. - The company has implemented a whistleblowing policy to encourage employees to report any misconduct related to financial reporting and compliance[112]. Market Strategy and Growth - The company aims to continuously seek acquisition or investment opportunities to enhance its risk resilience and drive growth[18]. - The company is expanding its market presence, targeting new regions in Southeast Asia, aiming for a 30% market share in these areas within the next two years[59]. - A strategic acquisition of a local competitor is in progress, which is anticipated to increase market share by 15%[59]. - The company has invested 50 million in research and development to innovate new glass processing techniques[59]. - The company has outlined a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion[59]. Compliance and Regulatory - The announcement complies with the GEM listing rules and aims to provide relevant information about the company[4]. - The audit was conducted by Zhongzheng Tianheng CPA Limited, ensuring compliance with regulatory standards[13]. - The company maintained compliance with GEM listing rules regarding public float since the listing date[160]. - The group has no major contingent liabilities as of December 31, 2023[45]. Employee and Social Responsibility - The company has provided comprehensive benefits and career development opportunities for employees, ensuring a healthy and safe working environment[178]. - Charitable donations made by the group totaled RMB 29,688 for the fiscal year ending December 31, 2023, compared to RMB 13,300 in 2022, reflecting a significant increase[145]. - The company has arranged liability insurance for directors and senior officers to protect against potential claims[167]. Financial Position - As of December 31, 2023, the current ratio of the group is 3.23, compared to 2.87 as of December 31, 2022[35]. - The group's cash and cash equivalents totaled RMB 1,167 thousand as of December 31, 2023, down from RMB 13,268 thousand in 2022[35]. - Bank loans amounted to RMB 62,400 thousand as of December 31, 2023, compared to RMB 61,500 thousand in 2022[35]. - The capital debt ratio as of December 31, 2023, is 24.9%, down from 30.2% as of December 31, 2022[54]. Shareholder Engagement - The company has established multiple communication channels to ensure effective engagement with shareholders and stakeholders[127]. - The company’s governance policies have been reviewed and deemed effective in facilitating shareholder communication[127]. - The company has a policy for disclosing information to external parties, ensuring accurate and timely communication with stakeholders[117].

Financial Performance - For the nine months ended September 30, 2023, the revenue was RMB 115,119,000, an increase of 6.5% compared to RMB 107,885,000 for the same period in 2022[11] - Gross profit for the same period was RMB 35,821,000, representing a gross margin of 31.1%, up from RMB 32,627,000 in 2022[11] - Operating profit increased to RMB 24,514,000, a rise of 14.4% from RMB 21,432,000 in the previous year[11] - Profit before tax for the nine months was RMB 20,931,000, up 12.1% from RMB 18,670,000 in 2022[11] - Net profit for the period was RMB 17,587,000, compared to RMB 16,881,000 in the same period last year, reflecting a growth of 4.2%[11] - Basic and diluted earnings per share decreased to RMB 0.042 from RMB 0.054 in the previous year[11] - The total comprehensive income for the period was RMB 17,587,000, unchanged from the previous year[12] Revenue Breakdown - For the nine months ended September 30, 2023, the total revenue from energy-saving safety glass products was RMB 114,062,000, an increase of 7.5% compared to RMB 105,990,000 for the same period in 2022[26] - The total revenue from smart glass products was RMB 1,057,000, a decrease of 44.9% from RMB 1,895,000 in the previous year[26] - The total revenue for the group for the nine months ended September 30, 2023, was RMB 115,119,000, compared to RMB 107,885,000 for the same period in 2022, reflecting an increase of 6.7%[26] - Revenue from energy-saving safety glass products was RMB 114,062 thousand, accounting for 99% of total revenue, compared to RMB 105,990 thousand and 98% in the previous year[49] Costs and Expenses - The company reported a financial cost of RMB 3,583,000, which increased from RMB 2,762,000 in 2022[11] - Employee costs for the nine months ended September 30, 2023, amounted to RMB 3,846,000, an increase of 6.4% from RMB 3,616,000 in the previous year[32] - Research and development costs for the nine months ended September 30, 2023, were RMB 8,560,000, slightly up from RMB 8,511,000 in the same period of 2022[36] - The cost of inventory for the nine months ended September 30, 2023, was RMB 79,298,000, compared to RMB 75,258,000 in the previous year, indicating an increase of 5.4%[36] - Selling costs increased to RMB 79,298 thousand from RMB 75,258 thousand, mainly due to higher sales volume[54] - Financing costs increased to RMB 3,583 thousand from RMB 2,762 thousand, reflecting higher borrowing costs[57] Shareholder Information - As of September 30, 2023, Mr. Wei and Ms. Lin each hold 249,750,000 shares, representing 54.41% ownership in the company[78] - Bright Global Limited, controlled by the Wei Family Trust, also holds 249,750,000 shares, accounting for 54.41% of the total shares[82] - Dongsheng Venture Limited and Ms. Wang each hold 49,500,000 shares, representing 10.78% ownership[82] - Lice International Holdings Limited and Mr. Li each hold 24,750,000 shares, which is 5.39% of the total shares[84] - The company has not entered into any arrangements that would allow directors or key executives to benefit from acquiring shares or related securities[80] - No share options have been granted or agreed to be granted under the stock option plan since its adoption[89] Corporate Governance - The company is committed to improving corporate governance practices and has adopted the GEM Listing Rules corporate governance code[91] - The company has maintained compliance with all applicable corporate governance codes during the reporting period[91] - The unaudited consolidated financial statements for the nine months ended September 30, 2023, have been reviewed by the audit committee, confirming compliance with applicable accounting standards and GEM listing rules[92] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[11] - The market for coated glass in China is expected to grow from 293 million square meters in 2018 to 427 million square meters in 2023, with a compound annual growth rate of approximately 7.8%[74] - Demand for smart glass products is anticipated to increase, with production expected to rise from 254,000 square meters in 2018 to 675,000 square meters in 2023, reflecting a compound annual growth rate of 21.6%[74] - The company is exploring a strategic partnership with Xianeng Technology to develop Building Integrated Photovoltaic (BIPV) projects in mainland China[69] Dividend Policy - The company did not recommend any dividend distribution for the nine months ended September 30, 2023, consistent with the previous year[42] - No dividends were recommended for the nine months ended September 30, 2023[73] - The board of directors does not recommend the distribution of a quarterly dividend for the nine months ended September 30, 2023[93] Compliance and Reporting - The financial statements are prepared in accordance with the applicable Hong Kong Financial Reporting Standards and comply with the GEM Listing Rules[21] - No significant investments or acquisitions were made during the nine months ended September 30, 2023[62][63] - No significant matters requiring disclosure have occurred from September 30, 2023, to the date of this quarterly report[96]

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的有限公司） （股份代號：8646） 二 零 二 三 年 第 三 季 度 業 績 公 告 中國宏光控股有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其附屬 公司（統稱「本集團」）截至二零二三年九月三十日止九個月之未經審核簡明綜 合業績。本公告列載本集團二零二三年第三季度報告全文，乃符合香港聯合交 易所有限公司（「聯交所」）GEM證券上市規則（「GEM上市規則」）中有關第三季度 業績初步公告附載的資料之相關要求。 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，二零二三年十一月十三日 於本公告日期，執行董事為魏佳坤先生、林偉珊女士、陳壁明先生及李婉娜女 ...

Financial Performance - For the six months ended June 30, 2023, the company reported revenue of RMB 80,153,000, a decrease from RMB 70,687,000 in the same period of 2022, representing a year-on-year increase of 13.2%[9] - The gross profit for the same period was RMB 26,123,000, compared to RMB 21,481,000 in 2022, indicating a gross margin improvement from 30.1% to 32.6%[9] - The operating profit for the six months was RMB 21,851,000, up from RMB 10,883,000 in the previous year, reflecting a significant increase of 100.5%[9] - The profit before tax increased to RMB 19,431,000, compared to RMB 8,876,000 in the same period last year, marking a growth of 119.5%[9] - The net profit for the period was RMB 16,875,000, a substantial increase from RMB 6,988,000 in 2022, representing a year-on-year growth of 141.5%[9] - Basic and diluted earnings per share for the six months were RMB 4.23, compared to RMB 2.33 in the same period of 2022, reflecting an increase of 81.5%[9] - The total comprehensive income for the six months was RMB 14,705,000, compared to RMB 6,816,000 in the same period last year, indicating a growth of 115.5%[10] Cash Flow and Assets - The net cash and cash equivalents decreased to RMB 7,382,000 from RMB 13,268,000, reflecting a decline of about 44.7%[19] - The net cash used in operating activities for the first half of 2023 was RMB (9,695,000), an improvement from RMB (23,727,000) in the same period of 2022[19] - As of June 30, 2023, the total assets minus current liabilities amounted to RMB 302,158,000, an increase from RMB 281,936,000 as of December 31, 2022, representing a growth of approximately 7.5%[13] - The company's total equity increased to RMB 294,625,000 as of June 30, 2023, compared to RMB 269,316,000 at the end of 2022, marking an increase of approximately 9.4%[14] - The total liabilities decreased to RMB 7,533,000 as of June 30, 2023, from RMB 12,620,000 at the end of 2022, showing a reduction of approximately 40.2%[14] Market and Growth Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[9] - The management remains optimistic about the future outlook, expecting continued revenue growth and improved profitability in the upcoming quarters[9] - The group had a diversified customer base, with two single customers accounting for over 10% of total revenue for both the six months ended June 30, 2023, and 2022[33] Research and Development - Research and development costs for the six months ended June 30, 2023, amounted to RMB 5,677,000, compared to RMB 5,760,000 in the same period of 2022[42] Shareholder Information - Major shareholders include Bright Global Limited and Wei Family Limited, each holding 249,750,000 shares, representing 54.41% ownership[122] - Dongsheng Venture Limited and Wang Yaqing each hold 49,500,000 shares, accounting for 10.78% of the total shares[122] Corporate Governance - The board confirmed compliance with the trading standards set forth in the GEM listing rules[117] - The company has established a solid foundation for future development through its successful listing on the GEM market[113] - The board is committed to improving corporate governance practices and believes that sound governance is crucial for the group's sustainable development[132] Employee Information - As of June 30, 2023, the company had a total of 68 full-time employees[90] Dividend Policy - The board did not recommend any dividend distribution for the six months ended June 30, 2023, consistent with the previous year[111] Risks and Compliance - The group has not faced significant risks from the COVID-19 pandemic as of the end of June 2023, with the risk factors now considered insignificant[98] - The company has no knowledge of any competing business interests from its directors or controlling shareholders as of June 30, 2023[126] Other Financial Information - The group reported a profit of RMB 16,875,000 for the six months ended June 30, 2023, compared to a profit of RMB 6,988,000 for the same period in 2022, indicating a significant increase of approximately 141.5%[17] - The average number of issued ordinary shares increased to 399,331,000 in 2023 from 300,000,000 in 2022, reflecting a significant increase in share issuance[48]

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的有限公司） （股份代號：8646） 二 零 二 三 年 中 期 業 績 公 告 中國宏光控股有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其附屬 公司（統稱「本集團」）截至二零二三年六月三十日止六個月之未經審核簡明綜 合業績。本公告列載本集團二零二三年中期報告全文，乃符合香港聯合交易所 有限公司（「聯交所」）GEM證券上市規則（「GEM上市規則」）中有關中期業績初步 公告附載的資料之相關要求。 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，二零二三年八月十四日 於本公告日期，執行董事為魏佳坤先生、林偉珊女士、陳壁明先生及李婉娜女 ...

Financial Performance - For the first quarter of 2023, China Hongguang Holdings Limited reported revenue of RMB 41,712,000, an increase of 11.8% compared to RMB 37,470,000 in the same period of 2022[9] - The gross profit for the first quarter of 2023 was RMB 13,817,000, representing a 17.9% increase from RMB 11,721,000 in the first quarter of 2022[9] - Operating profit for the first quarter of 2023 reached RMB 10,301,000, up 28.4% from RMB 8,023,000 in the same quarter of the previous year[9] - The profit before tax for the first quarter of 2023 was RMB 9,327,000, reflecting a 30.4% increase compared to RMB 7,156,000 in the first quarter of 2022[9] - The net profit for the first quarter of 2023 was RMB 7,898,000, which is a 29.8% increase from RMB 6,085,000 in the same period last year[9] - Basic and diluted earnings per share for the first quarter of 2023 remained at RMB 0.020, unchanged from the first quarter of 2022[9] Revenue Breakdown - For the three months ended March 31, 2023, the unaudited consolidated revenue from the sale of energy-saving safety glass products was RMB 41,015,000, an increase of 9.8% from RMB 37,470,000 in the same period of 2022[24] - The revenue from the sale of smart glass products was RMB 697,000, with no revenue reported in the same period of 2022[24] - Revenue from energy-saving safety glass products accounted for 98% of total revenue, amounting to RMB 41,015 thousand, compared to RMB 37,470 thousand in the previous year[50] Expenses and Costs - Sales and marketing expenses increased slightly to RMB 29,000 in the first quarter of 2023 from RMB 23,000 in the previous year[9] - General and administrative expenses decreased to RMB 3,598,000 in the first quarter of 2023 from RMB 3,633,000 in the same period of 2022[9] - Employee costs totaled RMB 1,238,000 for the three months ended March 31, 2023, an increase of 16.1% from RMB 1,066,000 in the same period of 2022[30] - Research and development costs for the three months ended March 31, 2023, were RMB 2,145,000, down from RMB 2,887,000 in the same period of 2022, indicating a decrease of 25.7%[33] - The income tax expense for the three months ended March 31, 2023, was RMB 1,429,000, compared to RMB 1,071,000 in the same period of 2022, reflecting an increase of 33.5%[36] Shareholder Information - As of March 31, 2023, the company’s major shareholders, Mr. Wei Jiakun and Ms. Lin Weishan, each hold 249,750,000 shares, representing 62.59% ownership[74] - Major shareholder Bright Global Limited holds 249,750,000 shares, representing 62.59% of the total shares[78] Corporate Governance - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[73] - The company has adopted the corporate governance code as per GEM listing rules and has complied with all applicable provisions during the reporting period[87] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2023, ensuring compliance with applicable accounting standards[88] Strategic Developments - The company has established a strategic partnership with Xianeng Technology (Beijing) Co., Ltd. to promote the development of Building Integrated Photovoltaic (BIPV) projects in mainland China[66] - The company is leveraging its expertise in smart glass production to capitalize on the growing demand in the Chinese market[70] Dividend and Securities - The company did not declare any dividends for the three months ended March 31, 2023, consistent with the previous year[42] - The board does not recommend the distribution of an interim dividend for the three months ended March 31, 2023[91] - The company did not purchase, redeem, or sell any of its listed securities during the three months ended March 31, 2023[83] Market Outlook - 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%[70] - The demand for smart glass products is anticipated to increase, with the production of dimmable glass projected to rise from 254,000 square meters in 2018 to 675,000 square meters in 2023, reflecting a CAGR of 21.6%[70] Compliance and Risk Management - The company is closely monitoring government policies and regulations that may impact its operations and is conducting research to assess these changes[64] - No significant events have occurred that would materially affect the company's operations and financial performance since March 31, 2023[65] - The company has not established any major investment or capital asset acquisition plans as of March 31, 2023[66] - There are no significant contingent liabilities held by the group as of March 31, 2023[86] - The company has not identified any conflicts of interest involving directors or major shareholders as of March 31, 2023[81] - There are no known significant events that require disclosure after March 31, 2023, up to the date of the quarterly report[82]

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的有限公司） （股份代號：8646） 二 零 二 三 年 第 一 季 度 業 績 公 告 中國宏光控股有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其附屬 公司（統稱「本集團」）截至二零二三年三月三十一日止三個月之未經審核簡明 綜合業績。本公告列載本集團二零二三年第一季度報告全文，乃符合香港聯合 交易所有限公司GEM（「GEM」）證券上市規則（「GEM上市規則」）中有關第一季度 業績初步公告附載的資料之相關要求。 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，二零二三年五月十五日 於本公告日期，執行董事為魏佳坤先生、林偉珊女士、陳壁明先生及李婉娜女 ...

Financial Performance - The revenue for China Hongguang Holdings Limited increased by 2.7% year-on-year in 2022[12]. - Total revenue for the year ended December 31, 2022, increased by 2.7% to RMB 208,656 thousand from RMB 203,074 thousand in 2021, primarily due to growth in sales of energy-saving safety glass products[18]. - Revenue from energy-saving safety glass products was RMB 205,782 thousand, accounting for 98.6% of total revenue, compared to 90.1% in 2021[18]. - Gross profit increased from RMB 57,504 thousand in 2021 to RMB 65,171 thousand in 2022, with a gross margin rising to 31.2% from 28.3%[19]. - Other income net increased from RMB 3,137 thousand in 2021 to RMB 3,244 thousand in 2022, mainly due to government subsidies rising from RMB 2,158 thousand to RMB 2,901 thousand[20]. - Net profit after tax for the year ended December 31, 2022, was RMB 34,560 thousand, a decrease of approximately 11.4% from RMB 39,000 thousand in 2021, mainly due to a significant rise in expenses[27]. Expenses and Costs - Selling and marketing expenses rose from RMB 159 thousand in 2021 to RMB 304 thousand in 2022, primarily due to increased marketing service fees[22]. - General and administrative expenses significantly increased from RMB 13,823 thousand in 2021 to RMB 24,323 thousand in 2022, mainly due to listing fees and increased impairment losses on trade and other receivables[23]. - Financing costs increased from RMB 3,071 thousand in 2021 to RMB 4,399 thousand in 2022, primarily due to higher interest on other borrowings[24]. Corporate Strategy and Market Position - The company aims to enhance its market position in the construction industry and expand its domestic market share[11]. - China Hongguang is actively seeking acquisition or investment opportunities to strengthen its risk resilience and drive growth[13]. - The company has entered into a non-binding memorandum of understanding with Beijing Zhenyan Asset Management to explore cooperation in the social e-commerce sector[13]. - A strategic partnership is being pursued with Xianneng Technology to promote Building Integrated Photovoltaic (BIPV) projects in mainland China[13]. Governance and Management - The company emphasizes high-level corporate governance practices to ensure sustainable development and protect the interests and assets of the group[62]. - The company has adopted the corporate governance code as per GEM Listing Rules and has complied with all applicable provisions as of December 31, 2022[63]. - The board consists of seven members, including three independent non-executive directors, meeting the requirement of at least one-third independence[67]. - The company has established a mechanism to ensure the independence of the board, with regular reviews by the nomination and remuneration committee[76]. - The company has established a clear communication policy with stakeholders, including shareholders and regulatory bodies[69]. Risk Management and Internal Controls - The company has established a risk management system with policies and procedures related to procurement, production, sales performance, and product quality monitoring[101]. - The audit committee and board will review the risk management and internal control systems annually, ensuring no significant deficiencies are noted[103]. - The company has adopted an internal control policy to ensure effective operations, reliable financial reporting, and compliance with applicable laws and regulations[102]. Shareholder and Capital Structure - The company raised approximately HKD 39,600,000 through a share subscription agreement, with 60% allocated for maintaining and operating existing businesses, 30% for potential acquisitions, and 10% for general working capital[40]. - The company’s capital structure remains unchanged since its listing on GEM on January 13, 2020, with total equity solely composed of ordinary shares[40]. - Major shareholder Bright Global Limited holds 249,750,000 shares, representing 62.59% of the total shares[139]. Compliance and Regulatory Matters - The company has established a non-competition agreement with its controlling shareholders, ensuring no direct or indirect competition in restricted businesses during the relevant period[149]. - Independent non-executive directors have reviewed compliance with the non-competition agreement and confirmed adherence by the controlling shareholders[150]. - The company maintains good relationships with regulatory authorities to ensure compliance with regulations[159]. Future Outlook and Growth - The company is exploring potential acquisitions in the BIPV glass system business and social e-commerce[40]. - The company anticipates that the production of coated glass in China will increase from 293 million square meters in 2018 to 427 million square meters by 2023, representing a compound annual growth rate (CAGR) of approximately 7.8%[124]. - The estimated production of smart glass in China is expected to grow from 254,000 square meters in 2018 to 675,000 square meters by 2023, with a CAGR of 21.6%[124].