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].

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之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 二 年 年 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」）截至二零二二年十二月三十一日止年度之經審核綜合財 務業績。本公告列載本集團二零二二年年度報告全文，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」）中有關年度業績初步公 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，二零二三年三月三十一日 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, 2022, the company reported revenue of RMB 70,687 thousand, an increase from RMB 63,068 thousand in the same period of 2021, representing a growth of approximately 12.5%[11] - The gross profit for the same period was RMB 21,481 thousand, compared to RMB 16,731 thousand in 2021, indicating a year-on-year increase of about 28.5%[11] - The operating profit decreased to RMB 10,883 thousand for the six months ended June 30, 2022, down from RMB 12,260 thousand in 2021, reflecting a decline of approximately 11.3%[11] - The net profit for the six months was RMB 6,988 thousand, a decrease from RMB 8,031 thousand in the previous year, which is a decline of about 13.0%[12] - The company reported a basic and diluted earnings per share of RMB 0.30 for the six months ended June 30, 2022, compared to RMB 0.33 in the same period of 2021[11] - The total comprehensive income for the six months was RMB 6,816 thousand, down from RMB 8,859 thousand in 2021, representing a decrease of approximately 23.1%[12] - The company incurred finance costs of RMB 2,007 thousand for the six months, a reduction from RMB 2,810 thousand in the same period of the previous year, indicating a decrease of about 28.5%[11] - The company experienced a foreign exchange loss of RMB 247 thousand for the six months, compared to a gain of RMB 75 thousand in the same period of 2021[12] Revenue Breakdown - Revenue from energy-saving safety glass products for the six months ended June 30, 2022, was RMB 68,792,000, an increase of 27% compared to RMB 54,171,000 for the same period in 2021[37] - Revenue from smart glass products for the six months ended June 30, 2022, was RMB 1,895,000, a decrease of 79% compared to RMB 8,897,000 for the same period in 2021[37] - Total revenue for the six months ended June 30, 2022, was RMB 70,687,000, compared to RMB 63,068,000 for the same period in 2021, reflecting an overall increase of 12%[37] - Revenue from energy-saving safety glass products accounted for 97% of total revenue, amounting to RMB 68,792 thousand, up from RMB 54,171 thousand in the previous year[81] Expenses and Costs - Selling costs increased to RMB 49,206 thousand from RMB 46,337 thousand, primarily due to higher sales volume[85] - General and administrative expenses rose significantly to RMB 11,294 thousand from RMB 5,556 thousand, driven by increased professional service fees[87] - Research and development costs for the six months ended June 30, 2022, amounted to RMB 5,760,000, an increase of 26% from RMB 4,555,000 in the same period of 2021[47] - Depreciation of property, plant, and equipment for the six months ended June 30, 2022, was RMB 4,831,000, significantly higher than RMB 1,227,000 for the same period in 2021, marking an increase of 294%[47] - Employee costs decreased from RMB 2,651 thousand for the six months ended June 30, 2021, to RMB 2,541 thousand for the six months ended June 30, 2022, representing a decline of approximately 4.2%[90] - Income tax expenses increased from RMB 1,419 thousand for the six months ended June 30, 2021, to RMB 1,888 thousand for the six months ended June 30, 2022, marking an increase of about 32.9% due to improved revenue from a subsidiary[91] Assets and Liabilities - As of June 30, 2022, the total current assets amounted to RMB 275,811,000, an increase from RMB 267,400,000 in the previous year, representing a growth of approximately 3.3%[14] - The net current asset value was reported at RMB 168,742,000, up from RMB 154,719,000, indicating a year-over-year increase of about 9%[15] - The total liabilities decreased from RMB 112,681,000 to RMB 107,069,000, reflecting a reduction of approximately 5%[14] - The company reported a net cash outflow from operating activities of RMB (23,727,000) for the six months ended June 30, 2022, compared to a net inflow of RMB 11,678,000 in the same period last year[23] - Cash and cash equivalents at the end of the period were RMB 10,218,000, down from RMB 12,930,000, representing a decrease of about 21%[23] - The total equity increased to RMB 207,393,000 from RMB 200,577,000, marking a growth of approximately 3.9%[18] - The company’s non-current assets were valued at RMB 50,846,000, a decrease from RMB 56,560,000, indicating a decline of about 10.1%[16] - The company’s bank loans increased to RMB 59,200,000 as of June 30, 2022, from RMB 42,500,000 as of December 31, 2021[64] - The interest rate on bank loans ranged from 3.95% to 6.40% as of June 30, 2022, compared to 3.85% to 7.00% as of December 31, 2021[65] - The company’s trade payables decreased significantly to RMB 6,834,000 as of June 30, 2022, from RMB 38,921,000 as of December 31, 2021[62] Strategic Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[11] - The management remains optimistic about the company's long-term prospects despite the short-term challenges faced in the current financial period[11] - The company continues to focus on the manufacturing and sales of construction glass products in China, with no specific new product launches or market expansions mentioned in the report[25] - The company maintains a strong product portfolio, focusing on energy-saving and smart glass products to meet diverse customer needs[77] - The company plans to upgrade and purchase production equipment to improve efficiency and quality as part of its operational strategy[132] Shareholder Information - The company’s major shareholders, Mr. Wei and Ms. Lin, each hold 150,750,000 shares, representing 50.25% ownership[121] - Major shareholder Bright Global Limited holds 150,750,000 shares, representing 50.25% of the total shares[126] - The company entered into a share subscription agreement on May 17, 2022, to issue 99,000,000 shares at a subscription price of HKD 0.4 per share, totaling approximately HKD 39,600,000[132] - The net proceeds from the share subscription are expected to be approximately HKD 39,250,000, with 60% allocated for maintaining existing operations, 30% for potential acquisitions, and 10% for general working capital[132] - The company did not declare any dividends for the six months ended June 30, 2022, consistent with the previous year[73] - The board did not recommend the distribution of an interim dividend for the six months ended June 30, 2022[145] Compliance and Governance - The company has not adopted any new accounting standards or interpretations that became effective during the reporting period[27] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2022, ensuring compliance with applicable accounting standards and GEM listing rules[144] - The company adopted the corporate governance code as per GEM listing rules and has complied with all applicable provisions during the reporting period[143] - The company has not encountered any circumstances that would require disclosure under GEM Listing Rules 17.22 to 17.24 as of June 30, 2022[112] - The company has not identified any conflicts of interest involving directors or major shareholders as of June 30, 2022[135] Market Trends - The production of coated glass in China is expected to grow from 293 million square meters in 2018 to 427 million square meters by 2023, with a compound annual growth rate (CAGR) of approximately 7.8%[118] - Demand for smart glass products is anticipated to increase, with the production of switchable glass projected to rise from 254,000 square meters in 2018 to 675,000 square meters by 2023, reflecting a CAGR of 21.6%[118]

Financial Performance - For the first quarter ended March 31, 2022, the company reported revenue of RMB 37,470,000, an increase of 11.7% compared to RMB 33,495,000 in the same period last year[11] - The gross profit for the same period was RMB 11,721,000, representing a gross margin of 31.2%, up from RMB 8,694,000 in the previous year[11] - The operating profit increased to RMB 8,023,000, a rise of 24.8% from RMB 6,427,000 year-on-year[11] - The net profit for the quarter was RMB 6,085,000, which is a 27% increase compared to RMB 4,797,000 in the prior year[11] - Basic and diluted earnings per share were RMB 0.020 and RMB 0.016 respectively, reflecting an increase in profitability[11] - The company reported a total comprehensive income of RMB 6,085,000 for the quarter, compared to RMB 4,797,000 in the same period last year[11] - The group reported a pre-tax profit of RMB 1,066,000 for the three months ended March 31, 2022, down from RMB 1,347,000 in the same period of 2021, reflecting a decrease of approximately 21.0%[34] - The group reported a net loss of RMB 42,000 for other income for the three months ended March 31, 2022, compared to a net gain of RMB 295,000 in the same period of 2021[32] - The group’s net profit for the three months ended March 31, 2022, was RMB 6,085,000, an increase from RMB 4,797,000 for the same period in 2021, primarily due to higher revenue[66] Revenue Breakdown - For the three months ended March 31, 2022, the revenue from energy-saving safety glass products was RMB 37,470,000, compared to RMB 30,378,000 for the same period in 2021, representing a growth of approximately 23.0%[23] - Revenue from energy-saving safety glass products was RMB 37,470 thousand, accounting for 100% of total revenue, compared to RMB 30,378 thousand (90.7%) in the same period of 2021[54] - The total revenue for the group for the three months ended March 31, 2022, was RMB 37,470,000, while the revenue for the same period in 2021 was RMB 33,495,000, indicating an increase of about 11.7%[23] - For the three months ended March 31, 2022, the total revenue increased by 11.87% to RMB 37,470 thousand from RMB 33,495 thousand in the same period of 2021, primarily due to increased sales of energy-saving safety glass products[54] Costs and Expenses - The financial costs for the quarter were RMB 867,000, up from RMB 781,000 in the previous year, indicating increased financing expenses[11] - The cost of sales increased from RMB 24,801 thousand to RMB 25,749 thousand, mainly due to higher sales volume[59] - Research and development costs for the three months ended March 31, 2022, amounted to RMB 2,887,000, up from RMB 2,063,000 in the same period of 2021, representing an increase of approximately 40.0%[37] - Employee costs decreased from RMB 1,347 thousand to RMB 1,066 thousand during the same period[63] - The group incurred interest expenses of RMB 867,000 for bank loans and other borrowings for the three months ended March 31, 2022, compared to RMB 781,000 in the same period of 2021, indicating an increase of about 11.0%[34] - The group’s income tax expense rose from RMB 849,000 for the three months ended March 31, 2021, to RMB 1,071,000 for the same period in 2022, attributed to better revenue performance from a subsidiary[65] Equity and Investments - The company’s total equity as of March 31, 2022, was RMB 206,662,000, an increase from RMB 200,577,000 at the end of the previous year[13] - The group did not have any significant acquisitions or investments during the three months ended March 31, 2022, nor in the same period of 2021[68][69] - The group has terminated a conditional share purchase agreement for acquiring a new company, which will not have any significant adverse impact on its business operations and financial condition[74] - The company entered into a share purchase agreement to acquire 100% of a newly registered company for HKD 64,200,000, but the agreement was terminated on May 12, 2022, with no significant adverse impact on the group's operations[93] Corporate Governance and Compliance - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2022, ensuring compliance with applicable accounting standards[102] - The company is committed to improving corporate governance practices and believes that sound governance is crucial for sustainable development[99] - The company closely monitors government policies and regulations that may impact its operations and compliance[72] - There were no related party transactions that met the definition of connected transactions under GEM Listing Rules during the reporting period[91] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[11] - The management expressed confidence in achieving further growth in the upcoming quarters, supported by strategic initiatives and market expansion efforts[11] - The group anticipates that the production of coated glass in China will 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%[78] - Demand for smart glass products is expected to increase, with the production of switchable glass projected to rise from 254,000 square meters in 2018 to 675,000 square meters in 2023, reflecting a CAGR of 21.6%[78] Dividends and Shareholder Information - The company did not declare any dividends for the three months ended March 31, 2022, consistent with the previous year[45] - The company does not recommend any dividend distribution for the three months ended March 31, 2022, consistent with the previous year[77] - Major shareholder Bright Global Limited holds 150,750,000 shares, representing 50.25% of the total shares[86] - The company did not engage in any purchase, redemption, or sale of its listed securities during the three months ended March 31, 2022[96] - The company has no stock option plan as of March 31, 2022[97] - There were no significant contingent liabilities held by the group as of March 31, 2022[98] - The board did not recommend the distribution of an interim dividend for the three months ended March 31, 2022[103]