期间有关溢利减少乃主要由于集团收益减少，此乃由于一次性塑料快餐盒收益于过去两年显著增长后， 市场对集团此类产品需求疲软所致。 格隆汇8月20日丨易和国际控股(08659.HK)公告，集团截至2025年6月30日止6个月("本期间")的未经审核 综合管理账目的初步评估及董事会目前可获得的资料，相较于截至2024年6月30日止6个月约人民币1880 万元的净利润，集团预期于期间将录得净利润于人民币700万元至人民币1000万元。 ...

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佈之內容概不負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 佈 全 部 或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Yik Wo International Holdings Limited 易和國際控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8659） 股東及本公司有意投資者於買賣本公司股份時務請審慎行事。 承董事會命 易和國際控股有限公司 盈利警告 本 公 佈 乃 由 易 和 國 際 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 稱 為「本集團」） 根據香港聯合交易所有限公司GEM證 券 上 市 規 則（「GEM上市規則」）第17.10條 及 香港法例第571章證券及期貨條例第XIVA部 內 幕 消 息 條 文（定 義 見GEM上市規則） 作出。 本 公 司 董 事（「董 事」）會（「董事會」）謹 此 知 會 本 公 司 股 東（「股 東」）及 有 意 投 資 者， 基 於 本 集 團 截 至 二 零 二 五 年 六 月 三 ...

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部 份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Yik Wo International Holdings Limited 易 和 國 際 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） 許有獎 香港，二零二五年八月十八日 – 1 – （股份代號：8659） 董事會會議通告 易和國際控股有限公司（「本公司」） 董事（「董事」） 會（「董事會」） 謹此宣佈， 將於二零二五年八月二十八日（星期四）假座香港九龍觀塘開源道72 號溢財中心3 樓6 室 舉行董事會會議， 藉以處理（ 其中包括）下列事項： 承董事會命 易和國際控股有限公司 董事長兼執行董事 本公佈將自其發出日期起計最少一連七日於香港聯合交易所有限公司網站 (www.hkexnews.hk) 內「最新上市公司公告」頁內刊登。本公佈亦將於本公司網站 （ www.yikwo.cn ）刊登。 – 2 – 1. 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綜合 財務業績， ...

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) | 08659 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,000,000 | 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: 易和國際控股有限公司 呈交日期: 2025年8月4日 本月底法定/註冊股本 ...

Financial Performance - For the fiscal year ending December 31, 2024, the group recorded revenue of approximately RMB 309.8 million, a decrease of about 4.2% compared to RMB 323.3 million in 2023[7]. - The net profit attributable to the owners of the company for the year was approximately RMB 27.2 million, down from RMB 27.6 million in 2023[7]. - The decline in revenue was primarily due to weak demand for the group's disposable plastic food containers after significant growth in the previous two years[7]. - Total assets increased to RMB 339,247 thousand in 2024, up from RMB 313,811 thousand in 2023, representing a growth of 8.5%[14]. - Revenue for 2024 was RMB 309,830 thousand, a decrease of 4.5% compared to RMB 323,301 thousand in 2023[15]. - Gross profit for 2024 was RMB 90,930 thousand, down from RMB 94,122 thousand in 2023, reflecting a decline of 3.5%[15]. - Operating profit for 2024 was RMB 41,228 thousand, slightly lower than RMB 42,181 thousand in 2023, indicating a decrease of 2.3%[15]. - Net profit for 2024 was RMB 27,214 thousand, a decrease of 1.3% from RMB 27,578 thousand in 2023[15]. - Adjusted net profit for 2024 was RMB 30,410 thousand, down from RMB 33,405 thousand in 2023, a decline of 9.0%[20]. - The company reported a decrease in sales expenses to RMB 17,277 thousand in 2024 from RMB 20,077 thousand in 2023, a reduction of 13.9%[15]. - The company experienced a fair value loss on financial assets of RMB 4,209 thousand in 2024, compared to a loss of RMB 947 thousand in 2023[20]. - Sales costs decreased from approximately RMB 229.2 million for the year ended December 31, 2023, to approximately RMB 218.9 million for the year ended December 31, 2024, a reduction of about 4.5%[25]. - Gross profit decreased by approximately RMB 3.2 million or about 3.4% to approximately RMB 90.9 million, with gross profit margins remaining stable at approximately 29.1% and 29.3% for the respective years[26]. - Administrative and other operating expenses decreased by approximately RMB 4.6 million or about 15.2% to approximately RMB 25.6 million, primarily due to the absence of legal and professional expenses related to the proposed transfer of listing[28]. Acquisitions and Business Expansion - The group completed the acquisition of Yizhen Media Co., Ltd. for a total consideration of RMB 20,571,430, which is expected to generate revenue and expand the company's business scope[8]. - The group acquired 100% equity of Beijing Youpinhui Trading Co., Ltd. through the purchase of Youpinhui Enterprises, enhancing its presence in the e-commerce sector[9]. - A new e-commerce application platform named "Yihotianxia" was launched, covering a range of products including daily necessities and domestic specialty agricultural products[9]. - The company invested 10% in a film project titled "The Englishman" directed by Chen Chong, with expectations for release in Q4 2024, following the recovery of the Chinese film market[142]. - The company is in discussions to potentially acquire a 30% stake in Beijing Zhenpin Network Technology Co., which collaborates with over 400 brands and offers over 100,000 products[144]. Financial Position and Ratios - Total liabilities decreased to RMB 50,802 thousand in 2024 from RMB 52,632 thousand in 2023, a reduction of 3.1%[14]. - Total equity increased to RMB 288,445 thousand in 2024, up from RMB 261,179 thousand in 2023, marking a growth of 10.4%[14]. - The current ratio improved from approximately 5.3 times as of December 31, 2023, to approximately 6.1 times as of December 31, 2024[39]. - The debt-to-equity ratio decreased from approximately 18.5% as of December 31, 2023, to approximately 16.1% as of December 31, 2024[39]. - The group has no borrowings as of December 31, 2024, remaining consistent with the previous year[41]. Corporate Governance - The board is committed to maintaining high standards of corporate governance based on the GEM Listing Rules Appendix C1[62]. - The company has complied with the corporate governance code throughout the financial year ending December 31, 2024[63]. - The board consists of six directors, including three executive directors and three independent non-executive directors, ensuring a balanced composition[68]. - All directors possess appropriate professional qualifications or substantial experience and industry knowledge, reflecting a proper balance of skills and experience[70]. - The company has adopted the GEM Listing Rules as its standard code for securities trading by directors, confirming compliance for the fiscal year ending December 31, 2024[64]. - The board is responsible for formulating the overall strategy and setting management objectives, with management reporting to the board on significant matters[66]. - Independent non-executive directors play a crucial role in providing strategic advice and ensuring high standards of financial reporting and governance[72]. - Continuous professional development programs are in place for all directors, ensuring they remain informed about regulatory requirements and corporate governance practices[75]. - The company has mechanisms to ensure the independence of the board, with six out of eight directors being independent non-executive directors, exceeding the GEM Listing Rules requirement[74]. - The board conducts annual evaluations of the performance and independence of independent non-executive directors[74]. - The company encourages directors to express independent views and constructive inquiries during board meetings[74]. - The company held a total of 4 board meetings and 1 annual general meeting, with all executive directors attending all meetings[80]. - The audit committee, consisting of three independent non-executive directors, reviewed the annual performance for the year ending December 31, 2024, before submission to the board[85]. - The remuneration committee held one meeting to review and recommend the remuneration policy for executive directors and senior management for the year ending December 31, 2024[89]. - The nomination committee is responsible for reviewing the board's structure and recommending suitable candidates for board membership[96]. - The company aims to ensure that appointed directors possess relevant business, financial, and management skills necessary for informed decision-making[97]. - The audit committee recommended the reappointment of the external auditor, subject to shareholder approval at the upcoming annual general meeting[84]. - The remuneration policy links discretionary bonuses and other payments to the company's performance and individual performance of directors and senior management[91]. - The company established four committees: audit, remuneration, nomination, and risk management, to oversee specific aspects of its operations[81]. - The company is committed to maintaining transparency and governance standards as outlined in its corporate governance report[89]. - The company auditor provided audit services and non-audit services for a total fee of RMB 1,142,000, which includes RMB 1,013,000 for annual audit services and RMB 129,000 for non-audit services[114]. Risk Management - The risk management committee is responsible for identifying existing and potential risks faced by the company's operations and evaluating the risk status and management strategies[106]. - The company has established a whistleblowing policy to encourage employees to report any misconduct related to financial reporting and compliance[112]. - The board of directors is responsible for ensuring that the audited consolidated financial statements reflect the group's affairs, financial performance, and cash flow accurately[109]. - The board is fully responsible for establishing and maintaining an effective risk management and internal control system, with the internal audit function outsourced to an independent internal audit firm[130]. - The board has not identified any significant deficiencies in the internal control measures implemented for the year ending December 31, 2024[131]. - The risk management committee must hold at least one meeting annually to discuss risks related to the group's business[105]. Shareholder Relations and Dividends - The company will continue to pay annual dividends to shareholders, contingent upon profitability and stable operating conditions[127]. - The company does not recommend any final dividend for the year ending December 31, 2024, consistent with the previous year[139]. - The company maintains a policy of open and effective communication with investors, ensuring timely disclosure of relevant business information[120]. - The company encourages shareholder participation in annual meetings and provides channels for feedback and inquiries[119]. - The company has made amendments to its articles of association to comply with the latest legal and regulatory requirements[121]. Market Trends and Future Outlook - Future growth will be driven by maintaining product safety and environmental standards, brand promotion, expanding sales channels, and product customization[23]. - The company aims to expand its market share by leveraging the net proceeds from its listing on GEM on July 13, 2020, amidst competition from eco-friendly disposable food containers[141]. - The board believes that maintaining product safety, environmental protection, brand promotion, and expanding sales channels will be key drivers for growth in the disposable plastic food container business[141]. - China's online retail sales increased from approximately RMB 5.2 trillion in 2016 to about RMB 11.8 trillion in 2020, with a cumulative annual growth rate of approximately 22.9%[143]. - The retail e-commerce market in China is projected to reach approximately USD 3.8 trillion (around RMB 24.6 trillion) by 2025[143].

Financial Performance - For the fiscal year ending December 31, 2024, the group recorded revenue of approximately RMB 309.8 million, a decrease of about 4.2% compared to RMB 323.3 million in 2023[10]. - The net profit attributable to shareholders for the year was approximately RMB 27.2 million, down from RMB 27.6 million in 2023[10]. - The decline in revenue was primarily due to weak demand for the group's disposable plastic food containers after significant growth in the past two years[10]. - Total revenue for the year ended December 31, 2024, was RMB 309,830,000, a decrease of 4.4% from RMB 323,301,000 in 2023[16]. - Operating profit for 2024 was RMB 41,228,000, down from RMB 42,181,000 in 2023[16]. - Net profit for the year was RMB 27,214,000, a slight decrease from RMB 27,578,000 in 2023[16]. - The adjusted net profit for the year ended December 31, 2024, was RMB 30.41 million, down from RMB 33.41 million in 2023, reflecting a decrease of approximately 9.0%[23]. - The gross profit for the year ended December 31, 2024, was approximately RMB 90.9 million, down about 3.4% from RMB 94.1 million in 2023[29]. - The sales cost decreased from approximately RMB 229.2 million in 2023 to about RMB 218.9 million in 2024, a reduction of approximately 4.5%[28]. - The administrative and other operating expenses decreased by approximately 15.2% to RMB 25.6 million in 2024, primarily due to the absence of legal and professional expenses related to the proposed transfer of listing[31]. Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 339,247,000, an increase from RMB 313,811,000 in 2023[17]. - Total liabilities as of December 31, 2024, were RMB 50,802,000, a decrease from RMB 52,632,000 in 2023[17]. - The company's total equity increased to RMB 288,445,000 in 2024 from RMB 261,179,000 in 2023[17]. - As of December 31, 2024, the group's net current assets increased from approximately RMB 210.2 million to approximately RMB 247.7 million, primarily due to an increase in cash and cash equivalents[41]. - The current ratio improved from approximately 5.3 times on December 31, 2023, to approximately 6.1 times on December 31, 2024[42]. - The debt-to-equity ratio decreased from approximately 18.5% on December 31, 2023, to approximately 16.1% on December 31, 2024[42]. - Cash and cash equivalents as of December 31, 2024, were approximately RMB 206.1 million, up from RMB 165.3 million in 2023, mainly due to net cash generated from operating activities[43]. - As of December 31, 2024, the group had no borrowings, maintaining a zero-debt status[44]. - Lease liabilities decreased from approximately RMB 6.4 million on December 31, 2023, to approximately RMB 4.2 million on December 31, 2024[45]. Business Strategy and Growth - The board believes that maintaining product safety and environmental protection, brand promotion, expanding sales channels, and product customization will be key drivers for growth in the disposable plastic food container business[11]. - The company aims to continue developing its business and optimizing customer experience to maximize shareholder returns[13]. - The company plans to continue expanding its market share through cash and cash equivalents generated from operations, despite facing external challenges and competition from alternative products[26]. - The group anticipates continued market expansion and brand promotion as essential strategies for maintaining its competitive position[144]. - The group is positioned to compete effectively against challenges faced by all competitors in the market, leveraging its experienced management team and reputation[11]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix C1, emphasizing the importance of robust governance practices for growth and shareholder interests[65]. - The board consists of six directors, including three executive directors and three independent non-executive directors, ensuring a balance of skills and experience[73]. - The company has complied with the corporate governance code throughout the fiscal year ending December 31, 2024[66]. - Independent non-executive directors play a crucial role in providing strategic advice and ensuring high standards of financial reporting and accountability[75]. - The company emphasizes continuous professional development and training for directors and senior management[71]. - The board has delegated responsibilities to various committees, including the audit committee, remuneration committee, nomination committee, and risk management committee[69]. - The company has established a standard code for securities trading by directors, confirming compliance for the fiscal year ending December 31, 2024[67]. - The company has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Risk Management Committee, each with defined terms of reference[4]. Acquisitions and Investments - The group completed the acquisition of Yizhen Media Co., Ltd. for a total consideration of RMB 20,571,430, which is expected to generate revenue and expand the group's business scope[11]. - The company acquired 100% equity of Beijing Youpinhui through the acquisition of Youpinhui Enterprises on June 1, 2022[12]. - The group is considering acquiring a 30% stake in Beijing Zhenpin Network Technology Co., which will enhance the supply chain for its e-commerce platform and expand revenue sources[147]. - The group invested 10% in the film project "English" directed by Chen Chong, with expectations for release in Q4 2024, following a rapid recovery in China's box office, which reached RMB 54.9 billion in 2023, up from RMB 20.3 billion in 2020[145]. Shareholder Relations - The company expressed gratitude to shareholders, business partners, and key customers for their continued support[14]. - The company aims to maintain high transparency to enhance investor relations and regularly updates shareholders through various communications[129]. - The company encourages shareholders to submit proposals for discussion at the annual general meeting[128]. - The company has maintained effective communication with shareholders, particularly through annual general meetings, ensuring transparency in decision-making[122]. Risk Management - The board is responsible for establishing and maintaining an effective risk management and internal control system to achieve business objectives and ensure compliance with relevant laws[133]. - The risk management committee held one meeting to discuss risks related to the group's business for the year ending December 31, 2024[111]. - The company has not established an internal audit function but has outsourced this responsibility to an independent internal audit firm[134]. Compliance and Legal Matters - The company has confirmed compliance with the non-competition agreement established on June 26, 2020, by its controlling shareholders[173]. - There are no significant transactions or contracts involving directors or related entities with the company as of December 31, 2024[166]. - The company has confirmed that there are no conflicts of interest involving directors or controlling shareholders in competitive businesses[170]. - The company has adopted an anti-bribery and anti-corruption (ABAC) policy, with regular training provided to employees[116]. E-commerce Operations - The new e-commerce application platform "Yihe Tianxia" was launched in July 2022, covering daily necessities, beauty products, home appliances, and domestic specialty agricultural products[12]. - The group acquired Youpinhui, which has developed a new e-commerce platform "Yihotianxia," targeting a growing e-commerce market in China, projected to reach approximately RMB 24.6 trillion by 2025[146]. - The company is currently expanding its e-commerce operations through Beijing Yihe, enhancing its service levels with the obtained ICP license[183].

Revenue and Profitability - The company's revenue increased from approximately RMB 147.3 million for the six months ended June 30, 2023, to approximately RMB 155.8 million for the six months ended June 30, 2024, representing an increase of approximately RMB 8.5 million or about 5.8%[9]. - Revenue for the six months ended June 30, 2024, was RMB 155,828,000, an increase of 5.4% compared to RMB 147,339,000 for the same period in 2023[45]. - Gross profit for the same period was RMB 46,201,000, representing a gross margin of 29.6%, up from RMB 43,008,000 in 2023[45]. - Operating profit increased to RMB 25,897,000, a significant rise of 52.7% from RMB 16,955,000 in the previous year[45]. - Net profit for the period was RMB 18,765,000, compared to RMB 10,890,000 in 2023, reflecting a year-on-year growth of 72.5%[45]. - Profit for the period increased by approximately RMB 7.9 million or 72.3% to RMB 18.8 million for the six months ending June 30, 2024, driven by reduced legal fees and increased gross profit[16]. Cost and Expenses - The cost of sales rose from approximately RMB 104.3 million for the six months ended June 30, 2023, to approximately RMB 109.6 million for the six months ended June 30, 2024, an increase of approximately RMB 5.3 million or about 5.1%[10]. - Sales expenses decreased by approximately RMB 0.5 million or 6.1% to RMB 8.9 million for the six months ending June 30, 2024, due to reduced promotional efforts[12]. - Administrative and other operating expenses decreased by approximately RMB 3.7 million or 22.7% to RMB 12.7 million for the six months ending June 30, 2024, primarily due to lower legal and professional fees related to the transfer to the main board[13]. Business Operations and Strategy - The company continues to focus on the production of disposable plastic lunch boxes, with increased demand contributing to revenue growth[7]. - The management believes that maintaining product safety and environmental protection, brand promotion, and expanding sales channels will be key drivers for growth in the disposable plastic lunch box business[7]. - The company launched a new e-commerce application platform "Yihotianxia" in July 2022, covering a range of products including daily necessities and agricultural products[7]. - The e-commerce segment has seen revenue growth, contributing to the overall increase in the company's earnings[9]. - The company is positioned to leverage opportunities in the emerging film industry as the demand for entertainment rebounds post-COVID-19[7]. - The company continues to focus on the design, development, production, and sale of disposable plastic lunch boxes and essential household products through e-commerce platforms[49]. Acquisitions and Investments - The company completed the acquisition of Yizhen Media Co., Ltd. for a total consideration of RMB 20,571,430, which is expected to generate significant income and expand the company's business scope[7]. - The company completed the acquisition of 100% equity in Yizhen Film and Television for a consideration of HKD 18.5 million, paid through the issuance of 74 million ordinary shares[25]. - The company established a new joint venture, Beijing Yi He Tian Xia Network Technology Co., Ltd., through a series of contractual arrangements, with a shareholding structure of 50% held by Beijing You Pin Hui and 50% by Mr. Cheng De Nan as of May 11, 2023[26]. Financial Position - Current assets increased from approximately RMB 210.2 million to RMB 233.7 million, with the current ratio improving from about 5.3 to 6.1[18]. - Cash and bank balances increased to approximately RMB 168.8 million as of June 30, 2024, from RMB 165.3 million as of December 31, 2023, mainly due to cash generated from operating activities[19]. - The company had no borrowings as of June 30, 2024[20]. - Total assets as of June 30, 2024, were RMB 279,344,000, an increase from RMB 258,614,000 as of December 31, 2023[46]. - The total liabilities as of June 30, 2024, were RMB 48,504,000, a slight decrease from RMB 52,632,000 as of December 31, 2023[59]. Shareholder and Governance - The major shareholders include Prize Investment Limited with 301,500,000 shares (40.28%) and Merit Winner Limited with 67,500,000 shares (9.02%) as of June 30, 2024[33]. - The company has adhered to the corporate governance code as per GEM listing rules, with distinct roles for the CEO and Chairman[38]. - The company reported no conflicts of interest among directors or major shareholders as of June 30, 2024[36]. - The company has implemented a strict code of conduct for securities trading by directors, with no violations reported during the six months ending June 30, 2024[39]. Employee and Management - As of June 30, 2024, the group employed a total of 202 employees, with employee costs approximately RMB 9.7 million, a decrease from RMB 10.9 million for the same period in 2023[30]. - Total remuneration for key management personnel increased to RMB 486,000 for the six months ended June 30, 2024, compared to RMB 454,000 for the same period in 2023, reflecting a rise of 7.0%[88]. Compliance and Reporting - The group has not applied any new standards or interpretations that have not yet come into effect during the reporting period, ensuring compliance with existing accounting policies[53]. - There were no significant impacts on the financial performance or position due to the adoption of new and revised Hong Kong Financial Reporting Standards[53]. - The company has established an audit committee to oversee financial reporting and internal controls[44].

Company Overview - Yik Wo International Holdings Limited reported its unaudited consolidated results for the six months ended June 30, 2024[1]. - The company is listed on the GEM of the Hong Kong Stock Exchange, which is known for higher investment risks associated with small and medium-sized enterprises[3]. - The company has a registered office in the Cayman Islands and operates in various locations including China and Hong Kong[7]. - The financial report is compliant with the GEM Listing Rules of the Hong Kong Stock Exchange[2]. - The company has established relationships with major banks for its operations, including Agricultural Bank of China[7]. - The company has two operating segments: (i) design, development, production, and sale of disposable plastic food containers, and (ii) operation of mobile applications and e-commerce platforms[24]. Governance and Compliance - The board of directors confirmed that the information provided in the report is accurate and complete after reasonable inquiries[2]. - The board of directors includes executive and independent non-executive members, ensuring a diverse governance structure[6]. - The company emphasizes the importance of understanding the potential risks before investing in GEM-listed companies[3]. - The report will be available on the Hong Kong Stock Exchange website and the company's official website for at least seven days from the date of issuance[1]. Financial Performance - Revenue increased from approximately RMB 147.3 million for the six months ended June 30, 2023, to approximately RMB 155.8 million for the six months ended June 30, 2024, representing an increase of approximately RMB 8.5 million or 5.8%[10]. - Sales cost rose from approximately RMB 104.3 million to approximately RMB 109.6 million, an increase of approximately RMB 5.3 million or 5.1%[11]. - Gross profit increased from approximately RMB 43.0 million to approximately RMB 46.2 million, a rise of approximately RMB 3.2 million or 7.4%, with a slight increase in gross profit margin from 29.2% to 29.6%[12]. - Net profit for the period increased from approximately RMB 10.9 million to approximately RMB 18.8 million, an increase of approximately RMB 7.9 million or 72.3%[17]. - Operating profit increased to RMB 25,897,000, compared to RMB 16,955,000 in the prior year, representing a growth of 52.5%[46]. - Total comprehensive income for the period was RMB 18,802,000, compared to RMB 10,767,000 in the same period last year[46]. Expenses and Costs - Administrative and other operating expenses decreased from approximately RMB 16.5 million to approximately RMB 12.7 million, a reduction of approximately RMB 3.7 million or 22.7%[14]. - Financing costs increased to approximately RMB 140,000 due to leasing arrangements for machinery and equipment[15]. - Income tax expenses rose from approximately RMB 6.0 million to approximately RMB 7.0 million, an increase of approximately RMB 1.0 million or 17.2%[16]. - The company reported a financing cost of RMB 140, which increased from RMB 99 in the previous year[46]. Assets and Liabilities - As of June 30, 2024, the net current assets increased from approximately RMB 210.2 million to approximately RMB 233.7 million, primarily due to an increase in trade and other receivables and a decrease in trade and other payables[19]. - The current ratio improved from approximately 5.3 as of December 31, 2023, to approximately 6.1 as of June 30, 2024[19]. - The debt-to-equity ratio improved from approximately 18.5% as of December 31, 2023, to approximately 15.3% as of June 30, 2024[19]. - As of June 30, 2024, the bank balances and cash amounted to approximately RMB 168.8 million, up from approximately RMB 165.3 million as of December 31, 2023, mainly due to net cash generated from operating activities[20]. - The company had no borrowings as of June 30, 2024, and December 31, 2023[21]. - The company’s non-current assets decreased to RMB 49,141,000 as of June 30, 2024, from RMB 55,197,000 at the end of 2023, representing a decline of approximately 11%[47]. - The total liabilities for the disposable plastic lunch box segment were RMB 39,531, while e-commerce liabilities were RMB 4,761, totaling RMB 48,504[59]. Investments and Acquisitions - The company completed the acquisition of 100% equity in Beijing Youpinhui, enhancing its e-commerce capabilities[8]. - The company completed the acquisition of 100% equity in YP Group for a consideration of HKD 18.5 million, paid through the issuance of 74,000,000 ordinary shares[26]. - The company plans to invest in film projects to capitalize on the recovering entertainment demand post-COVID-19[8]. - The company has recognized a financial asset at fair value through profit or loss related to film production investments, valued at RMB 24,625,000 as of June 30, 2024, unchanged from December 31, 2023[77]. Employee and Management Information - The group employed a total of 202 employees as of June 30, 2024, with employee costs amounting to approximately RMB 9.7 million for the six months ended June 30, 2024[31]. - The company reported management compensation of RMB 486,000 for the six months ended June 30, 2024, compared to RMB 454,000 for the same period in 2023, marking an increase of 7.0%[89]. Shareholder Information - The company did not declare any interim dividend for the six months ended June 30, 2024, consistent with the previous year[41]. - The total issued and paid-up ordinary shares remained at 748,482,760 as of both June 30, 2024, and December 31, 2023[88]. - The company has no share option scheme in place as of June 30, 2024[42]. Cash Flow and Working Capital - The net cash generated from operating activities for the six months ended June 30, 2024, was RMB 7,617,000, compared to RMB 9,423,000 for the same period in 2023, indicating a decrease of about 19%[49]. - The company's cash and cash equivalents increased to RMB 168,790,000 as of June 30, 2024, from RMB 124,787,000 a year earlier, reflecting a growth of approximately 35%[49]. - Trade receivables from third parties increased to RMB 70,659,000 as of June 30, 2024, compared to RMB 59,160,000 as of December 31, 2023, representing an increase of approximately 19.4%[79]. - The aging analysis of trade receivables shows that RMB 65,347,000 was overdue as of June 30, 2024, compared to none overdue as of December 31, 2023[82]. - The company maintains a credit period of 60 days for trade receivables, with overdue balances reviewed regularly by senior management[80]. Research and Development - Research and development costs, including employee costs, amounted to RMB 4,960 for the six months ended June 30, 2024, an increase from RMB 3,852 in the previous year[66].

Shareholding Structure - As of December 31, 2023, Mr. Xu holds 301,500,000 shares through a controlled corporation, representing 40.28% ownership, and an additional 74,482,760 shares as a beneficial owner, totaling 50.23%[9] - Ms. Xu, as Mr. Xu's spouse, is deemed to have an interest in the shares held by Mr. Xu, which also totals 50.23%[9] Contractual Arrangements and Control - The company has established a mechanism to control Beijing Yihe's economic interests through exclusive operating and consulting service agreements[14] - The company is limited to holding no more than 50% of Beijing Yihe's equity due to foreign ownership restrictions, necessitating contractual arrangements for control[16] - The exclusive purchase rights agreement allows the company to acquire all or part of the equity or assets of Beijing Yihe at the minimum price permitted by applicable Chinese laws[19] - The company has the right to exercise all shareholder voting rights and other rights of Beijing Yihe's shareholders through a voting rights proxy agreement[24] - The company believes that the contractual arrangements allow it to consolidate the financial performance of Beijing Yihe as if it were a subsidiary[33] - The company has confirmed that the contractual arrangements are established on normal commercial terms and in the overall interest of the company and its shareholders[45] - The company may face significant penalties or be forced to relinquish benefits obtained through the contractual arrangement if the Chinese government deems it non-compliant with foreign investment regulations[66] - The company has taken measures to ensure effective operation and compliance with the contractual arrangement following its implementation[74] - The company has received legal opinions supporting specific measures to comply with the Foreign Investment Law, which may impact its operations and financial condition[43] - The company acknowledges significant uncertainties regarding the interpretation and application of current and future laws and regulations in China, which may affect its contractual arrangements[36] - The company has committed to hiring external legal or other professional advisors to review the implementation of contractual arrangements if necessary[44] Financial Performance - Revenue for the year 2023 reached RMB 323,301 thousand, an increase of 12.5% compared to RMB 287,499 thousand in 2022[139] - Gross profit for 2023 was RMB 94,122 thousand, up from RMB 83,860 thousand in 2022, reflecting a gross margin improvement[139] - Operating profit decreased to RMB 42,181 thousand in 2023 from RMB 47,599 thousand in 2022, indicating a decline of 11.5%[139] - Net profit for the year was RMB 27,578 thousand, down 18.4% from RMB 33,814 thousand in the previous year[139] - Basic and diluted earnings per share for 2023 were RMB 3.68, compared to RMB 4.87 in 2022, representing a decrease of 24.5%[139] - The company reported a total comprehensive income of RMB 27,532 thousand for 2023, down from RMB 32,934 thousand in 2022[139] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 258,614 thousand, an increase from RMB 215,542 thousand in 2022[140] - Cash and cash equivalents increased significantly to RMB 165,252 thousand in 2023 from RMB 118,572 thousand in 2022, showing a growth of 39.3%[140] - Current liabilities rose to RMB 48,402 thousand in 2023 from RMB 44,197 thousand in 2022, indicating a 4.9% increase[140] - The company's equity increased to RMB 261,179 thousand in 2023 from RMB 233,647 thousand in 2022, reflecting a growth of 11.8%[140] Employee and Operational Metrics - The group had 201 employees as of December 31, 2023, an increase from 177 employees in 2022[116] - Employee costs for the year amounted to approximately RMB 24.5 million, compared to RMB 19.0 million in 2022, reflecting a year-on-year increase of about 29.5%[116] Customer and Supplier Concentration - The company's five largest suppliers accounted for approximately 58.9% of total procurement, down from 66.6% in 2022[51] - The five largest customers accounted for approximately 29.8% of the total revenue for the year, compared to 32.2% in 2022[80] - Major customers accounted for approximately 15.5% of total group procurement, down from 16.8% in 2022[112] Acquisitions and Investments - The acquisition agreement dated September 10, 2021, involves the conditional purchase of 100% of the issued share capital of the target company for RMB 72,000,000 (approximately HKD 86,400,000), to be settled through the issuance of new shares at HKD 0.18 per share[48] - The company has entered into a purchase agreement to acquire all issued share capital of Youpinhui Investment Holdings Limited for HKD 18,500,000, which was completed on June 1, 2022[78] - The acquisition of the target company was completed on April 27, 2022, resulting in the group holding 100% equity of the target company[109] - The total consideration for the acquisition was RMB 20,571,430, which included the issuance of 74,482,760 new shares[109] Compliance and Governance - The company has not entered into any significant contracts with its major shareholders as of December 31, 2023[4] - The company has not entered into, updated, or renewed any new contractual arrangements with Chinese contractual entities for the fiscal year ending December 31, 2023[46] - There have been no significant violations or non-compliance with applicable laws and regulations as of December 31, 2023[79] - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2023[122] - The group has maintained sufficient public float as required by GEM listing rules as of the report date[114] - The company has not changed auditors in the past three years, indicating stability in its financial oversight[164] Future Outlook and Strategy - The company plans to change the VIE structure to allow Beijing Youpinhui to hold the maximum permitted equity in Beijing Yihe, with a proposed ownership split of 50% each between Beijing Youpinhui and individual registered shareholders[47] - The company plans to distribute dividends contingent on profitability and stable operating conditions, with the decision dependent on various financial performance metrics[167] - The annual general meeting is scheduled for May 31, 2024, where shareholders will discuss the company's performance and future strategies[166] - The management team believes the company is well-positioned to compete against industry rivals amid future challenges[196] - The company aims to consolidate its market position and implement business plans to expand market share[196] - Maintaining product safety and environmental friendliness, brand promotion, expanding sales channels, and product customization are key growth drivers for the disposable plastic food container business[196] - The company continues to face external opportunities and challenges, including the popularity of eco-friendly disposable plastic food containers and competition from alternatives made of other materials[196] Risk Management - The company has established measures to protect individual registered shareholders in cases of death, bankruptcy, or divorce[27] - The group emphasizes the importance of maintaining good relationships with stakeholders, with no significant disputes reported during the year[117] - The company has maintained directors' and senior officers' liability insurance to cover potential costs and liabilities arising from claims[84]

Financial Performance - For the year ended December 31, 2023, the group recorded revenue of approximately RMB 323.3 million, representing a year-on-year increase of approximately 12.5% (2022: approximately RMB 287.5 million) [25] - The profit attributable to the owners of the company for the year was approximately RMB 27.6 million, a decrease from approximately RMB 33.8 million in 2022 [25] - The decrease in profit was primarily due to listing expenses of approximately RMB 5.8 million incurred for the proposed transfer of listing [25] - The increase in revenue was mainly driven by the sustained high demand for the group's disposable plastic food containers [25] - The income tax expense increased by approximately RMB 0.8 million or 5.7% from RMB 13.6 million for the year ended December 31, 2022, to approximately RMB 14.4 million for the year ended December 31, 2023 [57] - The debt-to-equity ratio increased from approximately 18.1% as of December 31, 2022, to approximately 18.5% as of December 31, 2023 [63] - As of December 31, 2023, the group had no borrowings, remaining consistent with the previous year [64] Business Development and Strategy - The group aims to continue developing its business, optimizing customer experience, and broadening revenue sources to maximize shareholder returns [20] - The board believes that passive investment in film projects will allow the group to capitalize on the rebound in public entertainment demand as the COVID-19 pandemic eases [18] - The group will continue to explore new strategies for market expansion and product development [20] - The management team believes that maintaining product safety and environmental protection, brand promotion, and expanding sales channels will drive growth in the disposable plastic food container business [26] - The group aims to consolidate its market position and expand market share despite facing challenges from competitors [26] Acquisitions and Investments - The acquisition of Yizhen Media Co., Ltd. was completed on April 27, 2022, for a total consideration of RMB 20,571,430, which is expected to generate revenue for the group [18] - The group acquired 100% equity of Beijing Youpinhui through the acquisition of Youpinhui Enterprises on June 1, 2022, enhancing its e-commerce capabilities [27] - The company agreed to acquire 100% of Yizhen Media for a total consideration of RMB 72 million, equivalent to HKD 86.4 million, through the issuance of new shares [69] - The group has a payable amount of approximately RMB 6.2 million related to the acquisition of 100% equity in Yizhen Media, which is to be settled upon the film's release in Chinese cinemas [65] Corporate Governance - The company is committed to ensuring the accuracy and completeness of the information provided in its announcements [2] - The board is responsible for corporate governance functions, including policy formulation and compliance with legal and regulatory requirements [55] - The board consists of six directors, including three executive directors and three independent non-executive directors, ensuring compliance with GEM listing rules [90] - The company has adopted a board diversity policy, considering various factors such as gender, age, cultural background, and professional experience in board member selection [99] - The independent non-executive directors have confirmed their independence according to GEM listing rules, ensuring proper governance [95] - The company emphasizes high standards of corporate governance to enhance performance and accountability [86] - The board has a balanced composition of skills and experience, with over one-third being independent non-executive directors [92] - The company will review its board diversity policy annually to ensure its effectiveness and relevance [99] - The board is committed to maintaining compliance with legal and regulatory requirements, reflecting a strong governance framework [89] - The company has established a whistleblowing policy to encourage employees to report any misconduct related to financial reporting and compliance [48] Committees and Responsibilities - The audit committee consists of three independent non-executive directors, with the chairman appointed on June 30, 2022 [134] - The remuneration committee is required to hold at least one meeting annually, with additional meetings as needed [136] - The board of directors has delegated specific responsibilities to various committees, including the audit, remuneration, nomination, and risk management committees [131] - The company has established a nomination committee to assess the independence and qualifications of new independent non-executive director candidates [146] - The remuneration committee held two meetings during the fiscal year ending December 31, 2023, to review and recommend compensation policies for the board and senior management [160] Risk Management and Compliance - The company has a risk management framework in place, with measures to address identified internal control deficiencies [188] - The company has outsourced its internal audit function to an independent internal audit firm, which reports directly to the audit committee annually [188] - The company ensures compliance with GEM listing rules and maintains transparency in its governance practices [158] - The company has established a policy to ensure high transparency and timely disclosure of business and financial information to shareholders [184] Future Outlook and Challenges - The group continues to face external opportunities and challenges, including the popularity of eco-friendly disposable plastic food containers and competition from alternatives [26] - The interpretation and application of current and future Chinese laws present significant uncertainties that may affect the company's structure and contractual arrangements [172] - The contractual arrangements may not provide as effective control over Beijing Yihe as direct ownership would [173] Director and Management Compensation - The compensation policy for the board of directors is determined based on individual capabilities, responsibilities, performance, and the group's overall performance [138] - As of December 31, 2023, the senior management's compensation is structured within a range of RMB 0 to RMB 1,000,000, with 8 individuals falling within this bracket [138] - The company is committed to continuous professional development for its directors to enhance their knowledge and skills [150] Miscellaneous - The company has not purchased insurance policies to cover risks associated with contractual arrangements [170] - The company does not bear the losses of Beijing Yihe according to the contractual arrangements, and there is no legal obligation to provide financial support [169] - The company has control over the distribution of dividends or any other payments from Beijing Yihe Group, requiring prior written consent [171] - Ms. Zhu has made an unconditional and irrevocable commitment regarding the contractual arrangement, including signing necessary documents and not interfering with the arrangement [199] - The board confirmed that there has been no interference or obstruction from any Chinese government agencies in business operations through Beijing Yihe as of the report date [200]