Financial Performance - Revenue for the three months ended March 31, 2022, was RMB 53,224,000, an increase of 2.5% from RMB 51,922,000 in the same period last year[9] - Gross profit for the same period was RMB 14,874,000, representing a gross margin of 27.9% compared to 28.3% in the previous year[9] - Operating profit decreased to RMB 8,079,000, down 8.5% from RMB 8,830,000 year-on-year[9] - Net profit for the period was RMB 5,711,000, a decline of 10.9% from RMB 6,409,000 in the prior year[9] - Basic and diluted earnings per share were RMB 1.0, down from RMB 1.2 in the same quarter last year[9] - Total comprehensive income for the period was RMB 5,769,000, compared to RMB 6,735,000 in the previous year[9] - The company reported other income of RMB 85,000, slightly up from RMB 81,000 year-on-year[9] - Administrative and other operating expenses increased to RMB 4,194,000 from RMB 3,298,000 in the previous year[9] - Financing costs decreased to RMB 41,000 from RMB 89,000 year-on-year[9] Revenue Breakdown - The sales of the "Jazz Rabbit" brand products amounted to RMB 46.4 million, while non-branded products contributed RMB 6.8 million for the three months ended March 31, 2022[20] - Revenue increased from approximately RMB 51.9 million for the three months ended March 31, 2021, to approximately RMB 53.2 million for the three months ended March 31, 2022, representing an increase of about RMB 1.3 million or approximately 2.5%[34] Cost and Expenses - Cost of sales rose from approximately RMB 37.2 million to approximately RMB 38.4 million, an increase of about RMB 1.2 million or approximately 3.0%, primarily due to increased depreciation of plant and machinery[35] - Administrative and other operating expenses increased from approximately RMB 3.3 million to approximately RMB 4.2 million, an increase of about RMB 0.9 million or approximately 27.2%, mainly due to higher employee costs and legal and professional fees[37] - Financing costs decreased from approximately RMB 89,000 to approximately RMB 41,000, a reduction of about RMB 48,000 or approximately 53.9%, due to leasing arrangements for machinery and equipment[40] Shareholder Information - Major shareholders include Prize Investment Limited with 301,500,000 shares, representing approximately 50.25% of the company[49] - Merit Winner Limited holds 67,500,000 shares, representing approximately 11.25% of the company[49] - Sun Kong Investments (BVI) Limited holds 54,000,000 shares, representing approximately 9.00% of the company[49] Investments and Acquisitions - The company completed the acquisition of June Pictures & Media Limited, increasing its ownership from 35% to 100% for a total consideration of RMB 20,571,430, which includes the issuance of 74,482,760 new shares and debt instruments totaling RMB 6,171,428[56] - The company has entered into a conditional agreement to acquire 100% of the issued share capital of Youpinhui Enterprises Limited for HKD 18,500,000, to be settled by issuing 74,000,000 ordinary shares[64] Corporate Governance - The company has adhered to the corporate governance code as per GEM Listing Rules during the reporting period[61] - The roles of the chairman and CEO are separated and held by different individuals, ensuring clear governance[58] - The company has not reported any conflicts of interest among directors or major shareholders as of March 31, 2022[53] - The company has established a code of conduct for directors' securities transactions, with no violations reported during the reporting period[62] - The company has maintained compliance with the GEM Listing Rules regarding the disclosure of interests by its compliance advisor[54] Research and Development - Research and development costs, including employee costs, were RMB 1.2 million for the three months ended March 31, 2022[21] Dividend Policy - The company did not recommend the payment of dividends for the three months ended March 31, 2022[25] Future Outlook - The company aims to expand its market share by investing in industries such as film and e-commerce, leveraging improved regulatory environments in China[32] - The management believes that maintaining product safety and environmental standards will be key drivers for growth in the disposable plastic food container business[32] - The company is targeting June Pictures & Media Limited and Youpinhui Enterprises Limited for potential investment opportunities to broaden its revenue sources[32]

Financial Performance - The group recorded revenue of approximately RMB 262.6 million for the year ended December 31, 2021, representing a year-on-year increase of approximately 12.6% compared to RMB 233.2 million in 2020[10]. - Profit attributable to the owners of the company for the year was approximately RMB 35.2 million, up from approximately RMB 20.8 million in 2020[11]. - The increase in revenue was primarily driven by heightened demand for takeaway services due to the COVID-19 outbreak[10]. - Revenue for the year 2021 was RMB 262,637,000, representing a 12.7% increase from RMB 233,181,000 in 2020[19]. - Profit before tax for 2021 was RMB 47,868,000, up 47.0% from RMB 32,546,000 in 2020[21]. - Net profit for the year 2021 was RMB 35,231,000, an increase of 69.7% compared to RMB 20,760,000 in 2020[21]. - The company reported a gross profit of RMB 75,948,000 for 2021, which is an increase from RMB 69,166,000 in 2020[21]. - The gross profit increased to approximately RMB 75.9 million for the year ended December 31, 2021, up by about RMB 6.7 million or 9.8% from RMB 69.2 million in the previous year[34]. - The sales cost rose to approximately RMB 186.7 million, an increase of about 13.8% from RMB 164.0 million in the previous year, aligning with the revenue growth and increased expenses[31]. - The overall gross margin slightly decreased to approximately 28.9% for the year ended December 31, 2021, from 29.7% in the previous year due to increased depreciation expenses from new machinery[34]. Assets and Liabilities - Total assets as of December 31, 2021, amounted to RMB 200,753,000, a significant increase from RMB 163,689,000 in 2020[25]. - Total liabilities increased to RMB 35,314,000 in 2021 from RMB 33,611,000 in 2020[25]. - The company's equity attributable to owners rose to RMB 165,439,000 in 2021, compared to RMB 130,078,000 in 2020, reflecting a growth of 27.2%[25]. - The net value of current assets increased from approximately RMB 83.4 million as of December 31, 2020, to approximately RMB 120.6 million as of December 31, 2021, primarily due to an increase in trade and other receivables by approximately RMB 4.7 million and cash and cash equivalents by approximately RMB 35.2 million[45]. - The current ratio significantly improved from approximately 3.8 times as of December 31, 2020, to approximately 4.7 times as of December 31, 2021[46]. - As of December 31, 2021, the group's bank balance and cash amounted to approximately RMB 107.6 million, an increase from approximately RMB 72.4 million in 2020, mainly from net cash generated from operating activities[47]. - The group had no borrowings as of December 31, 2021, and lease liabilities were approximately RMB 3.4 million, down from RMB 4.4 million in 2020[48]. Investment and Expansion Plans - The company has entered into an equity purchase agreement to acquire 100% of June Pictures & Media Limited for a total consideration of RMB 20,571,430[13]. - The investment in June Pictures & Media Limited is expected to generate substantial income and expand the company's business scope[13]. - The company plans to invest in film projects, capitalizing on the improving regulatory environment and rising public entertainment demand in China, with a total consideration of RMB 20,571,430 for acquiring June Pictures & Media Limited[29]. - The company aims to expand its market share by utilizing the net proceeds from its listing on GEM on July 13, 2020[159]. - The group plans to invest in film projects, acquiring June Pictures & Media Limited for a total consideration of RMB 20,571,430[160]. Corporate Governance - The company has maintained compliance with the corporate governance code throughout the fiscal year ending December 31, 2021[79]. - The board of directors is responsible for formulating the overall strategy and monitoring management performance[81]. - The company has adopted the GEM Listing Rules as its corporate governance framework, enhancing accountability and performance[78]. - The company has independent non-executive directors with extensive experience in accounting and law, contributing to governance and oversight[73][75]. - The board consists of six directors, including three executive directors and three independent non-executive directors, ensuring a balance of skills and experience[84]. - The company emphasizes the importance of training and continuous professional development for directors and senior management[82]. - The board is committed to high standards of corporate governance to promote growth and protect shareholder interests[78]. - The company has established policies to review and monitor compliance with legal and regulatory requirements[82]. - The company has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Risk Management Committee, each with defined terms of reference[98]. - The Audit Committee recommended the reappointment of the external auditor, Crowe Horwath (Hong Kong) CPA Limited, for the fiscal year ending December 31, 2022, subject to shareholder approval at the upcoming annual general meeting[103]. Shareholding Structure - As of December 31, 2021, the directors and senior management hold a total of 301,500,000 shares, representing 50.25% of the company's equity[191]. - Prize Investment Limited is the beneficial owner of 301,500,000 shares, accounting for 50.25% of the total shares[195]. - Merit Winner Limited holds 67,500,000 shares, which is 11.25% of the company's equity[195]. - Sun Kong Investments (BVI) Limited owns 54,000,000 shares, representing 9.00% of the total shares[195]. - The total number of shares held by major shareholders and directors is disclosed in compliance with the Securities and Futures Ordinance[198]. - The shareholding structure indicates significant control by a few major shareholders, with the top three holding over 70% of the equity[195]. - The company is compliant with the regulatory requirements for disclosing shareholdings of directors and major shareholders[198]. - The report highlights the interconnected ownership among directors and their spouses, affecting the overall shareholding percentages[196][197]. - The company maintains transparency in its governance by regularly updating the register of interests as required by law[198]. Future Plans and Use of Proceeds - The total net proceeds from the share issuance were approximately RMB 22.8 million, which was lower than the estimated net proceeds of approximately RMB 32.8 million stated in the prospectus[56]. - Approximately RMB 18.1 million of the net proceeds was used to acquire new machinery to expand production capacity, representing 79.3% of the total net proceeds[58]. - As of December 31, 2021, the actual use of net proceeds included RMB 1.4 million for establishing a second production facility, with an expected completion by the end of 2022[57]. - The actual use of proceeds from the listing until December 31, 2021, was approximately RMB 22.3 million, indicating faster business expansion than planned[62]. - Approximately RMB 2.5 million was invested to enhance research and development capabilities[62]. - Approximately RMB 0.3 million was used to expand the sales and marketing team[62]. - The remaining unutilized net proceeds of approximately RMB 0.5 million will be used according to the plan stated in the prospectus[62]. Compliance and Risk Management - The group has outsourced its internal audit function to an independent internal audit firm to ensure effective risk management[149]. - The company has established a Risk Management Committee on June 19, 2020, to identify and assess existing and potential risks in its operations[123]. - The Risk Management Committee held one meeting during the year ended December 31, 2021, to discuss risks related to the group's overseas export business[128]. - The company has established a nomination procedure to identify suitable candidates for the board, considering various factors including qualifications, skills, and experience[118]. - The company has not entered into any management or administrative management contracts related to its main business as of December 31, 2021[184].

Financial Performance - For the three months ended September 30, 2021, the revenue was RMB 71,267,000, representing an increase of 10.3% compared to RMB 64,454,000 for the same period in 2020[7]. - The gross profit for the nine months ended September 30, 2021, was RMB 55,084,000, up 8.2% from RMB 50,985,000 in the previous year[7]. - Operating profit for the three months ended September 30, 2021, was RMB 13,591,000, a significant increase of 128.5% from RMB 5,963,000 in the same period last year[7]. - The net profit for the nine months ended September 30, 2021, was RMB 25,651,000, compared to RMB 14,330,000 for the same period in 2020, reflecting an increase of 79.1%[7]. - The total comprehensive income for the three months ended September 30, 2021, was RMB 10,083,000, compared to RMB 5,818,000 in the same period last year, marking a growth of 73.9%[7]. - The company reported a profit attributable to equity holders of RMB 25.7 million for the nine months ended September 30, 2021, up from RMB 14.3 million in the same period of 2020, representing an increase of approximately 79.5%[31]. - Profit for the period increased from approximately RMB 14.3 million to approximately RMB 25.7 million, an increase of about RMB 11.3 million or approximately 79.0%[47]. Earnings Per Share - The company reported a basic and diluted earnings per share of RMB 1.67 for the three months ended September 30, 2021, compared to RMB 0.77 for the same period in 2020[7]. - The company reported a basic earnings per share of RMB 41.7 for the nine months ended September 30, 2021, compared to RMB 29.0 for the same period in 2020[31]. Revenue Growth - The company's revenue for the nine months ended September 30, 2021, increased by approximately 11.9% to about RMB 190.8 million from RMB 170.5 million for the same period in 2020[34]. - Revenue from the "Jazz Rabbit" brand products reached RMB 171.6 million for the nine months ended September 30, 2021, compared to RMB 151.9 million in the previous year, reflecting a growth of approximately 12.9%[22]. - Revenue increased from approximately RMB 170.5 million to approximately RMB 190.8 million, representing a growth of about RMB 20.2 million or approximately 11.9%[38]. Expenses and Costs - Cost of sales rose from approximately RMB 119.6 million to approximately RMB 135.7 million, an increase of about RMB 16.1 million or approximately 13.5%[39]. - Gross profit increased from approximately RMB 51.0 million to approximately RMB 55.1 million, a rise of about RMB 4.1 million or approximately 8.0%[40]. - Administrative and other operating expenses decreased from approximately RMB 22.1 million to approximately RMB 11.2 million, a reduction of about RMB 10.9 million or approximately 49.2%[41]. - The overall gross profit margin slightly decreased from approximately 29.9% to approximately 28.9% due to increased depreciation expenses[40]. - Income tax expenses increased from approximately RMB 6.3 million to approximately RMB 9.0 million, primarily due to an increase in profit before tax from approximately RMB 20.6 million to approximately RMB 34.7 million[46]. Cash and Equity - The total equity attributable to the owners of the company as of September 30, 2021, was RMB 155,777,000, an increase from RMB 130,078,000 as of January 1, 2021[9]. - The company’s cash and cash equivalents increased to RMB 84,761,000 as of September 30, 2021, compared to RMB 59,110,000 at the beginning of the year[9]. Strategic Plans and Investments - The company plans to continue expanding its market presence and investing in new product development to drive future growth[14]. - The company continues to focus on expanding its market share through the utilization of funds raised from its listing on the GEM on July 13, 2020[35]. - The company has maintained a strong demand for its disposable plastic lunch boxes, which is expected to drive future growth[34]. - The company entered into an equity purchase agreement to acquire 100% of June Pictures & Media Limited for a total consideration of RMB 72 million[36]. - The company agreed to acquire 100% of June Pictures & Media Limited for RMB 72,000,000 (approximately HKD 86,400,000), to be paid through the issuance of 336,000,000 new shares at HKD 0.18 each[62]. - No significant investments, acquisitions, or disposals were made by the group in the nine months ending September 30, 2021, apart from the aforementioned transaction[63]. Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules during the nine months ending September 30, 2021[64]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ending September 30, 2021, and found compliance with applicable accounting standards and GEM listing rules[70]. - The company has adopted a code of conduct regarding securities trading by directors, with no violations reported during the nine months ending September 30, 2021[68]. - The company has no known conflicts of interest among directors or major shareholders as of September 30, 2021[59]. - The company’s compliance advisor reported no interests that need to be disclosed under GEM listing rules as of September 30, 2021[60]. - The roles of the chairman and CEO are separated and held by different individuals, ensuring clear governance structure[64]. Dividends - The company did not declare or propose any dividends for the nine months ended September 30, 2021[29]. - The company declared and paid a total dividend of RMB 7,522,185 on July 2, 2020, but no dividends were declared or proposed for the nine months ending September 30, 2021[69].

Revenue and Profitability - The company's revenue increased from approximately RMB 106.1 million for the six months ended June 30, 2020, to approximately RMB 119.5 million for the six months ended June 30, 2021, representing an increase of about RMB 13.4 million or approximately 12.7%[13] - Profit for the period increased by approximately RMB 5.7 million or 57.8% to about RMB 15.6 million for the six months ended June 30, 2021[21] - Revenue for the six months ended June 30, 2021, was RMB 119,518 thousand, an increase of 12.9% compared to RMB 106,089 thousand for the same period in 2020[56] - Operating profit for the six months ended June 30, 2021, was RMB 21,231 thousand, an increase of 43.3% from RMB 14,789 thousand for the same period in 2020[56] - Net profit for the six months ended June 30, 2021, was RMB 15,608 thousand, compared to RMB 9,889 thousand for the same period in 2020, reflecting a growth of 57.5%[56] Cost and Expenses - The cost of sales rose from approximately RMB 74.8 million for the six months ended June 30, 2020, to approximately RMB 85.1 million for the six months ended June 30, 2021, an increase of about RMB 10.3 million or approximately 13.8%[14] - Administrative and other operating expenses decreased by approximately RMB 4.1 million or 36.3% to about RMB 7.2 million for the six months ended June 30, 2021[17] - Income tax expenses increased by approximately RMB 0.7 million or 15.0% to about RMB 5.5 million for the six months ended June 30, 2021, due to an increase in profit before tax from approximately RMB 14.7 million to RMB 21.1 million[20] Gross Profit and Margin - The gross profit increased from approximately RMB 31.3 million for the six months ended June 30, 2020, to approximately RMB 34.4 million for the six months ended June 30, 2021, an increase of about RMB 3.1 million or approximately 9.9%[15] - The overall gross margin slightly decreased from approximately 29.5% for the six months ended June 30, 2020, to approximately 28.8% for the six months ended June 30, 2021[15] Assets and Liabilities - Current assets increased from approximately RMB 83.4 million to RMB 101.1 million, mainly due to an increase in trade and other receivables by approximately RMB 6.7 million and cash and cash equivalents by approximately RMB 12.6 million[22] - The current ratio improved from approximately 3.8 to 4.2, while the debt-to-equity ratio remained stable at approximately 25.8% and 23.8%[23] - Total assets as of June 30, 2021, were RMB 148,896 thousand, an increase from RMB 133,493 thousand as of December 31, 2020[59] - The company's inventory as of June 30, 2021, was RMB 6,886 million, a slight decrease of 6.0% from RMB 7,327 million as of December 31, 2020[99] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2021, was RMB 16,509,000, compared to RMB 15,993,000 for the same period in 2020, representing an increase of approximately 3.2%[64] - Cash and cash equivalents as of June 30, 2021, amounted to RMB 85,027 thousand, compared to RMB 72,396 thousand as of December 31, 2020[59] - The cash and cash equivalents at the end of the period increased to RMB 85,027,000 from RMB 38,565,000 year-on-year, reflecting a significant increase of approximately 120.5%[63] Share Issuance and Utilization - The net proceeds from the share issuance amounted to approximately RMB 22.8 million, which is lower than the estimated RMB 32.8 million stated in the prospectus[29] - Approximately RMB 18.1 million of the net proceeds was used to acquire new machinery to expand production capacity[31] - The estimated net proceeds from the share offering amount to approximately RMB 32.8 million, with actual net proceeds being about RMB 22.8 million, lower than the estimate[37] Market Position and Strategy - The company aims to maintain product safety and environmental standards, enhance brand promotion, and expand sales channels as key growth drivers for its disposable plastic food containers business[12] - The company is positioned to leverage external opportunities and challenges, including the popularity of eco-friendly disposable plastic food containers and advancements in production technology[12] - The management team believes the company is well-positioned to compete against its rivals amid future challenges[12] - The company continues to focus on increasing production capacity in response to rising demand for its products due to the COVID-19 pandemic[13] Ownership Structure - The board members and senior management hold significant stakes, with Mr. Xu owning 50.25% of the shares through Prize Investment Limited[39] - Merit Winner Limited and its beneficial owner, Mr. Xu, hold 11.25% of the shares, indicating a concentrated ownership structure[44] - Sun Kong Investments (BVI) Limited, controlled by Mr. Huang, holds 9.00% of the shares, further highlighting the ownership concentration[44] Research and Development - The company incurred research and development costs of RMB 2,558,000 for the six months ended June 30, 2021, down from RMB 2,867,000 in the same period of 2020[84] - Research and development capabilities were enhanced with an expenditure of approximately RMB 2.5 million, including RMB 2.4 million for tooling[33] Compliance and Governance - The company maintained compliance with the corporate governance code as per GEM Listing Rules throughout the reporting period[56] - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2021, with no significant impact on the financial performance for the period[71]

Financial Performance - Revenue for the three months ended March 31, 2021, was RMB 51,922,000, representing an increase of 17.8% compared to RMB 44,259,000 for the same period in 2020[7] - Gross profit for the same period was RMB 14,691,000, up 23.4% from RMB 11,873,000 in 2020[7] - Operating profit increased to RMB 8,830,000, a rise of 55.5% from RMB 5,666,000 in the previous year[7] - Net profit for the period was RMB 6,409,000, compared to RMB 4,047,000 in 2020, marking a growth of 58.5%[7] - Total comprehensive income for the period was RMB 6,735,000, up from RMB 4,046,000 in the same quarter of the previous year[7] - Basic and diluted earnings per share increased to RMB 1.2, compared to RMB 0.90 for the same period last year[7] - The company reported other income of RMB 81,000 for the period, compared to RMB 23,000 in the previous year[7] - Financing costs increased to RMB 89,000 from RMB 52,000 in the previous year, reflecting a rise in financial expenses[7] - Revenue from the "Jazz Rabbit" brand products was RMB 46.2 million, an increase from RMB 39.3 million in the previous year, while non-branded products generated RMB 5.7 million compared to RMB 5.0 million[19] - The gross profit for the three months ended March 31, 2021, was RMB 31.6 million, up from RMB 28.8 million in the same period last year, indicating a strong demand for disposable plastic lunch boxes[20] - The company reported a profit attributable to equity holders of RMB 6.4 million for the three months ended March 31, 2021, compared to RMB 4.0 million in the same period of 2020[29] - Basic earnings per share for the three months ended March 31, 2021, were calculated based on 520.3 million shares, compared to 450.0 million shares in the previous year[29] - Profit for the period increased from approximately RMB 4.0 million to approximately RMB 6.4 million, an increase of approximately RMB 2.4 million or about 60.0%[44] Cost and Expenses - Cost of sales rose from approximately RMB 32.4 million to approximately RMB 37.2 million, an increase of approximately RMB 4.8 million or about 14.8%[36] - Administrative and other operating expenses decreased from approximately RMB 4.0 million to approximately RMB 3.3 million, a reduction of approximately RMB 0.7 million or about 17.5%[38] - Financing costs increased from approximately RMB 52,000 to approximately RMB 89,000, an increase of approximately RMB 37,000 or about 71.2%[42] - Income tax expenses rose from approximately RMB 1.6 million to approximately RMB 2.3 million, an increase of approximately RMB 0.7 million or about 43.8%[43] - The company incurred research and development costs of RMB 1.5 million during the period, reflecting ongoing investment in product innovation[20] - The company has reallocated R&D materials and reduced post-listing professional service costs, contributing to the decrease in administrative expenses[38] Shareholder Information - Major shareholders include Prize Investment Limited with a 50.25% stake and Merit Winner Limited with an 11.25% stake[51] - The company raised approximately RMB 20.4 million through the issuance of 150,000,000 shares at HKD 0.4 per share during its listing on GEM[45] Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[55] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2021, prior to submission to the board[59] - The audit committee consists of three independent non-executive directors, with Mr. Li Kui Long serving as the chairman[58] - No directors or major shareholders had any competing business interests as of March 31, 2021[55] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2021[55] Future Outlook - The company anticipates continued growth driven by external opportunities and challenges, including the popularity of eco-friendly disposable plastic lunch boxes and advancements in production technology[33] - The management team believes the company is well-positioned to compete in the market and plans to utilize funds raised from the GEM listing to expand market share[33] - The company continues to focus on the design, development, production, and sales of disposable plastic food containers in China[15] - The company did not recommend any dividend payment for the three months ended March 31, 2021, consistent with the previous year[26] - The company has maintained its accounting policies consistent with those used in the previous financial year, ensuring transparency and reliability in financial reporting[2]

Financial Performance - For the year ended December 31, 2020, the group recorded revenue of approximately RMB 233.2 million, representing a year-on-year increase of about 9.6% (2019: approximately RMB 212.8 million) [13] - The profit attributable to the owners of the company for the year was approximately RMB 20.8 million, slightly up from RMB 20.5 million in 2019 [13] - The revenue for the year ended December 31, 2020, was approximately RMB 233.2 million, representing a growth of about 9.6% compared to RMB 212.8 million for the previous year [31] - The profit attributable to the company's owners for the year was approximately RMB 20.8 million, slightly up from RMB 20.5 million in the previous year [31] - The gross profit for the year was RMB 69.2 million, up from RMB 60.4 million in the previous year, representing an increase of about 14.5% [24] - The overall gross profit margin improved from approximately 28.4% for the year ended December 31, 2019, to approximately 29.7% for the year ended December 31, 2020, attributed to an increase in orders for disposable food containers due to COVID-19 [35] Impact of COVID-19 - The increase in revenue was primarily driven by a surge in demand for takeout services due to the COVID-19 outbreak [14] - The COVID-19 pandemic has significantly impacted global economic activities, leading to temporary closures of local restaurants and increased demand for takeout services [15] - The company anticipates that consumer behavior changes, such as the preference for takeout, may accelerate the development of the disposable food container business [15] - The company acknowledges the uncertainties brought by the COVID-19 pandemic and is committed to adapting its strategies accordingly [31] Business Strategy and Focus - The board believes that the company will continue to focus on its core business of disposable plastic food containers in the long term [16] - The company plans to continue focusing on its core business of disposable food containers while exploring new business opportunities to broaden revenue sources [31] - The company aims to leverage the growth in the takeout market to enhance its business prospects moving forward [15] - The company aims to enhance the quality of its precision manufacturing R&D processes to design and develop more complex products [31] - The company will increase marketing activities and develop its sales and marketing team to expand market share and attract new customers [31] Corporate Governance - The board of directors is committed to maintaining high standards of corporate governance based on the GEM Listing Rules and believes that sound governance practices are key to promoting growth and safeguarding shareholder interests [69] - The company has complied with the corporate governance code throughout the fiscal year ending December 31, 2020 [70] - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balance of skills and experience [77] - The company has established various committees, including the Audit Committee and the Remuneration Committee, to enhance governance and oversight [82] - The board is responsible for reviewing and monitoring compliance with legal and regulatory requirements [76] Risk Management - The company established a risk management committee on June 19, 2020, to identify and assess existing and potential risks in its operations [112] - The risk management committee includes three executive directors and one independent non-executive director, with the chairman being Mr. Xu Youjiang [113] - The board is responsible for establishing and maintaining an effective risk management and internal control system [137] Environmental and Sustainability Initiatives - The company has implemented an "Environmental Protection and Sustainable Development Policy" to minimize negative environmental impacts and effectively utilize resources [157] - The company has achieved ISO 9001:2015 certification for quality management and ISO 14001:2015 certification for environmental management since 2020 [151] - The company aims to reduce CO2 equivalent emissions per employee by up to 5% through improved energy-saving practices and investment in new production equipment [165] - The company has adopted the 3R principles (reduce, reuse, recycle) in its operations to minimize waste generation [171] - The company is committed to maintaining zero complaints and zero pollution status in the coming year [188] Employee Relations and Compensation - The company provides statutory benefits to eligible employees, including mandatory provident fund and social insurance [199] - Employee compensation is determined based on ability, qualifications, experience, and position, aligned with market levels [199] - The company strictly prohibits child labor and forced labor in its employment practices [196] - The company has established a clear and strict policy for equal opportunities in recruitment, promotion, and compensation [196]

Financial Performance - For the three months ended September 30, 2020, the company reported revenue of RMB 64,454,000, an increase of 12% compared to RMB 57,562,000 for the same period in 2019[6] - Gross profit for the same period was RMB 19,711,000, representing a 22% increase from RMB 16,162,000 year-over-year[6] - The operating profit for the three months ended September 30, 2020, was RMB 5,963,000, a decrease of 37% compared to RMB 9,445,000 in the previous year[6] - The net profit for the three months ended September 30, 2020, was RMB 4,442,000, down 36% from RMB 6,930,000 in the same quarter of 2019[6] - The total comprehensive income for the three months ended September 30, 2020, was RMB 5,818,000, compared to RMB 6,792,000 for the same period in 2019[6] - For the nine months ended September 30, 2020, the company achieved revenue of RMB 170,543,000, an increase of 9% from RMB 156,193,000 in the same period of 2019[6] - The gross profit for the nine months was RMB 50,985,000, up 13% from RMB 44,936,000 year-over-year[6] - The company reported a net profit of RMB 14,330,000 for the nine months ended September 30, 2020, which is consistent with RMB 14,346,000 in the previous year[6] - The total comprehensive income for the nine months was RMB 15,714,000, compared to RMB 14,199,000 for the same period in 2019[6] - The basic and diluted earnings per share for the three months ended September 30, 2020, were RMB 0.74, down from RMB 1.51 in the same quarter of 2019[6] Revenue Breakdown - The revenue from the "Jazz Rabbit" brand products for the nine months ended September 30, 2020, was RMB 151,948,000, representing an increase of 8.1% from RMB 139,822,000 in the same period of 2019[25] - The revenue from non-branded products for the three months ended September 30, 2020, was RMB 7,166,000, a significant increase of 45.2% compared to RMB 4,938,000 in the same period of 2019[25] Cost and Expenses - The gross profit for the nine months ended September 30, 2020, was RMB 170,543,000, compared to RMB 156,193,000 for the same period in 2019, reflecting a growth of 9.2%[25] - Selling costs increased by approximately RMB 8.3 million or about 7.5%, from approximately RMB 111.3 million for the nine months ended September 30, 2019, to approximately RMB 119.6 million for the same period in 2020[43] - Administrative and other operating expenses rose by approximately RMB 5.7 million or about 35.2%, from approximately RMB 16.3 million for the nine months ended September 30, 2019, to approximately RMB 22.1 million for the same period in 2020[44] - Research and development costs, including employee costs, for the nine months ended September 30, 2020, were RMB 4,287,000, down 28.6% from RMB 6,006,000 in the same period of 2019[26] - The total employee costs, including directors' remuneration, for the nine months ended September 30, 2020, were RMB 9,495,000, an increase of 5.5% from RMB 8,997,000 in the same period of 2019[26] Shareholder Information - As of the report date, Mr. Xu and Ms. Xu Liping each hold 301,500,000 shares of ordinary stock, representing 50.25% of the company's total shares[53] - Merit Winner Limited holds 67,500,000 shares, accounting for 11.25% of the company's total shares[57] - Sun Kong Investments (BVI) Limited owns 54,000,000 shares, which is 9.00% of the company's total shares[57] Dividends - The company declared a dividend of RMB 7,522,185 on July 2, 2020, to offset amounts receivable from the ultimate holding company[32] - No dividends were declared or proposed for the nine months ending September 30, 2020, compared to RMB 22,900,000 for the same period in 2019[64] Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15[62] - There were no purchases, sales, or redemptions of the company's listed securities during the nine months ending September 30, 2020[61] - No conflicts of interest were reported among directors or major shareholders as of September 30, 2020[59] - The company has adopted a code of conduct for directors' securities transactions, adhering to GEM Listing Rules[63] - The company has not reported any violations of the securities trading regulations during the nine months ending September 30, 2020[63] - The audit committee has been established in accordance with the GEM listing rules, consisting of three independent non-executive directors[67] - The audit committee reviewed the unaudited consolidated financial statements for the nine months ended September 30, 2020, and confirmed compliance with applicable accounting standards and GEM listing rules[67] - The executive directors include Mr. Xu Youjiang, Ms. Xu Liping, and Mr. Zhang Yuansheng, while the independent non-executive directors are Mr. Li Kuilong, Mr. Liu Dajing, and Mr. Deng Zhihuang[68] Future Outlook - The company anticipates continued growth driven by the demand for environmentally friendly disposable plastic food containers and advancements in production technology[39] - The company plans to expand its market share by leveraging its experienced management team and enhancing brand promotion and sales channels[39] - The company faces competition from alternative products made from other materials, which may impact future growth[39] Capital Raising - The company raised approximately RMB 20.4 million through the issuance of 150,000,000 shares at HKD 0.4 per share during its listing on GEM on July 13, 2020[51]

Revenue and Profitability - The company's revenue increased from approximately RMB 986 million for the six months ended June 30, 2019, to approximately RMB 1,061 million for the six months ended June 30, 2020, representing an increase of approximately RMB 75 million or about 7.6%[11] - Revenue for the six months ended June 30, 2020, was RMB 106,089,000, an increase of 7.4% compared to RMB 98,631,000 for the same period in 2019[49] - Profit for the period rose from approximately RMB 7.4 million for the six months ended June 30, 2019, to approximately RMB 9.9 million for the six months ended June 30, 2020, marking a 33.3% increase[20] - Net profit for the six months ended June 30, 2020, was RMB 9,889,000, compared to RMB 7,416,000 for the same period in 2019, reflecting a growth of 33.4%[49] - Basic and diluted earnings per share for the six months ended June 30, 2020, were RMB 2.20, compared to RMB 1.59 for the same period in 2019, an increase of 38.4%[49] Cost and Expenses - The cost of sales rose from approximately RMB 699 million for the six months ended June 30, 2019, to approximately RMB 748 million for the six months ended June 30, 2020, an increase of approximately RMB 49 million or about 7.1%[12] - Administrative and other operating expenses decreased from approximately RMB 124 million for the six months ended June 30, 2019, to approximately RMB 113 million for the six months ended June 30, 2020, a reduction of approximately RMB 11 million or about 9.0%[16] - Financing costs decreased from approximately RMB 0.12 million for the six months ended June 30, 2019, to approximately RMB 0.10 million for the six months ended June 30, 2020, a decrease of approximately RMB 0.01 million or about 11.3%[18] - The company reported a total depreciation expense of RMB 3,038,000 for the six months ended June 30, 2020, compared to RMB 2,754,000 in the same period of 2019[80] - Research and development costs, including employee costs, amounted to RMB 2,867,000 for the six months ended June 30, 2020, down from RMB 4,205,000 in the same period of 2019[80] Gross Profit and Margins - Gross profit increased from approximately RMB 288 million for the six months ended June 30, 2019, to approximately RMB 313 million for the six months ended June 30, 2020, an increase of approximately RMB 25 million or about 8.7%[13] - The overall gross profit margin improved from approximately 29.2% for the six months ended June 30, 2019, to approximately 29.5% for the six months ended June 30, 2020[13] - Gross profit for the six months ended June 30, 2020, was RMB 31,275,000, representing a gross margin of 29.5%, up from RMB 28,774,000 in 2019[49] Taxation - Income tax expense increased from approximately RMB 3.7 million for the six months ended June 30, 2019, to approximately RMB 4.8 million for the six months ended June 30, 2020, representing a 29.6% increase[19] - The company reported a total tax expense of RMB 4,798,000 for the six months ended June 30, 2020, which is an increase of 60.1% from RMB 2,992,000 in the same period of 2019[84] - The company did not incur any tax provision due to no taxable profits generated in Hong Kong for the periods ended June 30, 2020, and June 30, 2019[81] Assets and Liabilities - As of June 30, 2020, total assets amounted to RMB 91,738,000, an increase from RMB 76,950,000 as of December 31, 2019, representing a growth of approximately 19.2%[51] - The total liabilities increased to RMB 33,354,000 as of June 30, 2020, from RMB 28,971,000 as of December 31, 2019, representing an increase of approximately 15.5%[51] - Net current assets increased from approximately RMB 48.0 million as of December 31, 2019, to approximately RMB 58.4 million as of June 30, 2020, driven by an increase in trade and other receivables by approximately RMB 1.7 million and cash and cash equivalents by approximately RMB 12.4 million[21] - Current ratio slightly improved from approximately 2.7 as of December 31, 2019, to approximately 2.8 as of June 30, 2020[22] - Debt-to-equity ratio remained stable at approximately 38.6% as of December 31, 2019, and approximately 37.9% as of June 30, 2020[22] Employee and Operational Metrics - The company employed a total of 133 employees as of June 30, 2020, compared to 125 employees as of December 31, 2019[24] - Employee costs, including directors' remuneration, were approximately RMB 6.2 million for the six months ended June 30, 2020, compared to approximately RMB 6.1 million for the same period in 2019[24] Strategic Plans and Market Position - The company aims to maintain product safety and environmental standards, enhance brand promotion, and expand sales channels as key growth drivers for its disposable plastic food containers business[10] - The company plans to utilize the net proceeds from its listing on July 13, 2020, to implement its business plans and expand market share[10] - The company continues to face external opportunities and challenges, including the popularity of eco-friendly disposable plastic food containers and competition from alternative products[10] Shareholder and Dividend Information - The company did not declare any interim dividend for the six months ended June 30, 2020, compared to RMB 22,900,000 in 2019[42] - The company declared and paid dividends totaling RMB 7,522,185 on July 2, 2020, to offset amounts receivable from the ultimate holding company and a shareholder[127] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2020, compared to RMB 22,900,000 in dividends paid for the same period in 2019[86] Investment and Capital Expenditures - The company has no significant investments or capital asset plans as of June 30, 2020[24] - The company completed the acquisition of Hengsheng Animation Broadcasting Co., Ltd. for RMB 20,000,000, impacting the equity position during the reporting period[54] - The company acquired property, plant, and equipment amounting to approximately RMB 3,657,000 during the six months ended June 30, 2020, compared to RMB 836,000 in the same period of 2019[91] Cash Flow and Financial Health - The net cash generated from operating activities for the six months ended June 30, 2020, was RMB 15,993,000, compared to RMB 7,399,000 for the same period in 2019, indicating a significant increase of approximately 116.4%[57] - The company's cash and cash equivalents increased to RMB 38,565,000 as of June 30, 2020, up from RMB 26,171,000 at the beginning of the period, reflecting a growth of approximately 47.4%[57] - The company reported a net cash outflow from investing activities of RMB 3,607,000 for the six months ended June 30, 2020, compared to RMB 811,000 for the same period in 2019, reflecting an increase in investment activities[57] Inventory and Receivables - Inventory increased to RMB 7,064,000 as of June 30, 2020, from RMB 6,390,000 as of December 31, 2019, representing a rise of approximately 10.5%[51] - Trade receivables from third parties as of June 30, 2020, were RMB 35,460,000, slightly up from RMB 35,442,000 as of December 31, 2019[100] - The company did not write off any trade receivables during the periods ending December 31, 2019, and June 30, 2020, with total trade receivables remaining stable[104] - The company expects to recover all trade and other receivables within one year, with no significant difference between their fair value and carrying amount[100] Compliance and Governance - The company maintained a strong internal control system and governance practices as per GEM listing rules[40] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2020[45] - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2020, with no significant impact on the financial results[66]