Financial Performance - The group recorded revenue of approximately RMB 287.5 million for the year ended December 31, 2022, representing a year-on-year increase of about 9.5% compared to RMB 262.6 million in 2021[7]. - The profit attributable to the owners of the company for the same period was approximately RMB 33.8 million, slightly down from RMB 35.2 million in 2021[8]. - The increase in revenue was primarily driven by heightened demand for takeout services due to the COVID-19 pandemic[8]. - The company's revenue for the year ended December 31, 2022, was approximately RMB 287.5 million, representing a growth of about 9.5% compared to RMB 262.6 million for the previous year[22]. - The profit attributable to the company's owners for the year was approximately RMB 33.8 million, down from RMB 35.2 million in the previous year[22]. - The gross profit for the year was RMB 83.9 million, compared to RMB 75.9 million in 2021, indicating a positive trend in profitability[17]. - Net profit for the year decreased by approximately RMB 1.4 million or 4.0% to about RMB 33.8 million in 2022, mainly due to increased selling and income tax expenses[32]. - Cost of sales increased from approximately RMB 186.7 million in 2021 to about RMB 203.6 million in 2022, an increase of approximately RMB 17.0 million or 9.1%[25]. - Gross profit rose from approximately RMB 75.9 million in 2021 to about RMB 83.9 million in 2022, an increase of approximately RMB 7.9 million or 10.4%[27]. Assets and Liabilities - The total assets as of December 31, 2022, amounted to RMB 279.8 million, an increase from RMB 200.8 million in 2021[15]. - The total liabilities increased to RMB 46.2 million in 2022 from RMB 35.3 million in 2021[15]. - The total equity attributable to the owners of the company reached RMB 233.6 million, up from RMB 165.4 million in the previous year[15]. - The company recorded a net cash position of RMB 171.3 million in current assets after deducting current liabilities[15]. - Current assets net value increased from approximately RMB 120.6 million in 2021 to about RMB 171.3 million in 2022, driven by an increase in financial assets and trade receivables[39]. - Cash and cash equivalents as of December 31, 2022, were approximately RMB 118.6 million, up from RMB 107.6 million in 2021, primarily from cash generated from operating activities[42]. - The current ratio slightly improved from approximately 4.7 times in 2021 to about 4.9 times in 2022[40]. - The company has no borrowings as of December 31, 2022, maintaining a strong liquidity position[43]. Business Expansion and Acquisitions - The company 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[9]. - The group acquired 100% equity of Beijing Youpinhui Trading Co., Ltd. through the purchase of Youpinhui Enterprises Ltd., enhancing its presence in the e-commerce sector[11]. - A new e-commerce application platform named "Yihotianxia" was launched, covering a variety of products and offering innovative group buying options to meet consumer needs[11]. - The company completed the acquisition of 100% equity in Yizhen Media for a total consideration of RMB 72,000,000 (approximately HKD 86,400,000) through the issuance of new shares at HKD 0.18 per share[49]. - The total adjusted consideration for the acquisition was RMB 20,571,430, which was settled through the issuance of 74,482,760 new shares and debt instruments totaling RMB 6,171,428[50]. - The company acquired 100% of Youpinhui Enterprises for HKD 18,500,000, paid by issuing 74,000,000 ordinary shares[51]. Corporate Governance - The board of directors is responsible for formulating the overall strategy and setting management objectives[82]. - The management team is tasked with daily operations and must report to the board for major decisions[84]. - The company has adhered to the corporate governance code throughout the fiscal year ending December 31, 2022[79]. - The company has implemented a standard code for directors' securities trading, confirming compliance for the fiscal year[80]. - The board is committed to maintaining high standards of corporate governance to enhance performance and accountability[78]. - The company has established various committees, including audit, remuneration, nomination, and risk management committees, to oversee specific responsibilities[82]. - The company has a procurement manager responsible for overseeing procurement processes and cost control policies[75]. - The company secretary has over 13 years of experience in corporate secretarial practices[76]. - The board consists of six directors, including three executive directors and three independent non-executive directors, ensuring a balanced composition[85]. - The company has established mechanisms to ensure the independence of the board, with over one-third of the members being independent non-executive directors, in compliance with GEM listing rules[90]. - Independent non-executive directors play a crucial role in providing strategic advice and ensuring high standards of financial reporting and governance[88]. - All directors received training on GEM listing rules and regulatory requirements, with a focus on continuous professional development[91]. - The board holds regular meetings, with agendas provided at least 14 days in advance, ensuring informed decision-making[93]. - The company has mechanisms in place to assess the independence and performance of independent non-executive directors annually[90]. - The board has a clear structure for committees, including audit, remuneration, nomination, and risk management committees, to enhance governance[88]. - Directors are encouraged to express independent views and constructive inquiries during board meetings[90]. - All board meeting documents are sent to directors at least three days prior to meetings to ensure they are informed of the company's latest developments[95]. - The company emphasizes compliance with legal and regulatory requirements as part of its governance framework[85]. - The board of directors attended 100% of the meetings, with all executive directors present at 7 out of 7 board meetings[96]. - The audit committee, consisting of three independent non-executive directors, held meetings to review the annual performance before submission to the board[102]. - The remuneration committee convened twice during the year to review and recommend compensation policies for directors and senior management[108]. - The nomination committee is responsible for reviewing the board's structure and recommending suitable candidates for board membership[114]. - The company aims to ensure that appointed directors possess relevant business, financial, and management skills necessary for informed decision-making[115]. - The audit committee recommended the reappointment of the external auditor, subject to shareholder approval at the annual general meeting[102]. - The remuneration policy links discretionary bonuses and other payments to the company's performance and individual director performance[110]. - The company established four committees: audit, remuneration, nomination, and risk management, to oversee specific aspects of governance[97]. - The nomination committee evaluates the independence of independent non-executive directors and provides recommendations on their appointment or reappointment[114]. - The company has established a risk management committee to identify and assess existing and potential risks related to its business operations[123]. - The risk management committee held one meeting in the year ending December 31, 2022, to discuss risks associated with the group's overseas export business[126]. - The auditor's fee for the annual audit services for the year ending December 31, 2022, was HKD 945,000[134]. - The board consists of one female director and five male directors, with a total of 177 employees, of which 95 are male and 82 are female, indicating a satisfactory gender diversity level[138]. - The company aims to achieve gender equality by the end of 2025, with a commitment to gradually increase the proportion of female board members[138]. - The company maintains a high level of communication with shareholders, ensuring timely disclosure of relevant business information[140]. - The company’s dividend policy states that dividends will be paid if the group records profits and the operating environment remains stable, subject to board approval[149]. - The company secretary has completed over 21 hours of relevant professional training in accordance with GEM listing rules[150]. - The board reviews its corporate governance policies annually to ensure compliance with legal and regulatory requirements[136]. - The company has adopted a board diversity policy that considers various factors including gender, age, cultural background, and professional experience[137]. - The company will continue to monitor and review the implementation of its board diversity policy to ensure its effectiveness[137]. - The annual general meeting is scheduled for May 31, 2023, providing a platform for shareholder engagement[143]. - The company encourages shareholders to submit proposals for discussion at the annual general meeting, enhancing shareholder participation[147]. - The group did not recommend any final dividend for the year ended December 31, 2022, consistent with the previous year[160]. Strategic Initiatives - The company plans to maintain product safety and environmental standards, enhance brand promotion, and expand sales channels as key growth drivers for its disposable plastic food container business[9]. - The company aims to provide high-quality eco-friendly disposable plastic food containers while ensuring product safety[81]. - The board believes that maintaining product safety, brand promotion, and expanding sales channels will be key drivers for growth in the disposable plastic food container business[163]. - The group aims to utilize the net proceeds from its listing on the GEM to implement its business plans and expand market share[163]. - The group invested 10% in a film project titled "The English" directed by Chen Chong, with expectations for release in Q4 2023, following a recovery in the mainland film market[164]. - The group acquired Youpinhui, which owns an e-commerce platform, and launched a new platform "Yihotianxia" to capture growth in China's retail e-commerce market, projected to reach approximately RMB 24.6 trillion by 2025[165]. - The group reported a cumulative annual growth rate of approximately 22.9% in China's online retail sales from 2016 to 2020, with total online retail sales increasing from about RMB 5.2 trillion to RMB 11.8 trillion[165]. - The group is positioned to compete effectively in the market, leveraging its experienced management team and reputation[163]. - The group has not planned any major investments or capital assets for the year ended December 31, 2022[168]. Shareholder and Ownership Information - As of December 31, 2022, the company's distributable reserves amounted to approximately RMB 598 million, an increase from RMB 330 million in 2021, reflecting a growth of 81.8%[174]. - The company did not redeem any of its listed securities during the year ended December 31, 2022, nor did it purchase, cancel, or sell any related listed securities[175]. - The company has no management or administrative contracts related to any of its major businesses as of December 31, 2022[186]. - All independent non-executive directors have confirmed their independence according to GEM Listing Rules, and the company believes they meet the independence guidelines[177]. - The company has established a non-competition agreement with its controlling shareholders, ensuring they will not engage in any competing business activities[189]. - The company’s board of directors includes three executive directors and three independent non-executive directors, with specific terms of service agreements in place[176]. - There were no significant transactions or contracts involving directors or their related entities with the company during the year ended December 31, 2022[184]. - The company’s remuneration for directors and the five highest-paid individuals is based on market benchmarks and individual performance assessments[182]. - The company has committed to promoting any identified business opportunities related to restricted businesses to ensure compliance with the non-competition agreement[190]. - The company has no significant contracts with its controlling shareholders that could lead to conflicts of interest as of December 31, 2022[188]. - As of December 31, 2022, Mr. Xu holds a total of 375,982,760 shares, representing 50.23% ownership in the company[192]. - Mr. Xu's controlled entity, Prize Investment Limited, owns 301,500,000 shares, accounting for 40.28% of the total shares[195]. - Ms. Xu Li Ping, as Mr. Xu's spouse, is deemed to have an interest in the shares held by Mr. Xu, totaling 301,500,000 shares or 50.23%[194]. - Merit Winner Limited, another significant shareholder, holds 301,500,000 shares, representing 9.02% of the total shares[195]. Compliance and Risk Management - The internal audit function was outsourced to an independent internal audit firm, with no significant deficiencies noted in the internal control system as of December 31, 2022[152]. - The company is subject to foreign investment restrictions and licensing requirements in its operations in China[199]. - The economic interests of Beijing Yi He can be transferred to the company through exclusive operating and consulting service agreements[200]. - All significant business decisions of Beijing Yi He will be guided and supervised by the company, ensuring risk management[200]. - The company has appointed Zhongyi Capital Limited as its compliance advisor, with no interests held in the company's equity as of December 31, 2022[197].

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） 截至二零二二年十二月三十一日止年度 末期業績公佈 易和國際控股有限公司（「本公司」，連同其附屬公司，統稱「本集團」）董事（「董事」）會 （「董事會」）欣然公佈本集團截至 二零二二年十二月三十一日止年度的未經審核簡明 綜合業績。本公佈載列本公司二零二二年年度報告全文，並符合香港聯合交易所有限 公司GEM證券上市規則有關末期業績初步公佈附載資料的相關規定。 承董事會命 易和國際控股有限公司 董事長兼執行董事 許有獎 香港，二零二三年三月三十一日 於本公佈發表日期，董事會成員包括三名執行董事：許有獎先生、許麗萍女士及張緣 生先生；及三名獨立非執行董事：張世澤先生、劉大進先生及鄧志煌先生。 本公佈（董事願共同及個別對此負全責）乃遵照GEM證券 ...

Revenue and Profitability - Revenue for the three months ended September 30, 2022, was RMB 73,909,000, representing an increase from RMB 71,267,000 in the same period last year, a growth of 2.3%[8]. - Gross profit for the nine months ended September 30, 2022, was RMB 58,757,000, compared to RMB 55,084,000 for the same period last year, reflecting a growth of 4.9%[8]. - The operating profit for the three months ended September 30, 2022, was RMB 12,757,000, a decrease from RMB 13,591,000 in the previous year, indicating a decline of 6.1%[8]. - The net profit for the nine months ended September 30, 2022, was RMB 24,548,000, down from RMB 25,651,000 in the same period last year, a decrease of 4.3%[8]. - Basic and diluted earnings per share for the three months ended September 30, 2022, were RMB 1.21, compared to RMB 1.67 for the same period last year, a decline of 27.5%[8]. - The total comprehensive income for the three months ended September 30, 2022, was RMB 9,282,000, slightly lower than RMB 10,083,000 in the previous year, a decrease of 7.9%[8]. - The profit for the period was RMB 25,651 thousand, resulting in a total comprehensive income of RMB 25,699 thousand for the nine months ended September 30, 2022[16]. - Profit for the period decreased from approximately RMB 25.7 million to approximately RMB 24.5 million, a decline of approximately RMB 1.1 million or about 4.3%[60]. Expenses and Costs - The company incurred administrative and other operating expenses of RMB 14,545,000 for the nine months ended September 30, 2022, compared to RMB 11,222,000 in the previous year, an increase of 29.5%[8]. - Research and development costs, including employee costs, increased to RMB 5,311,000 for the nine months ended September 30, 2022, compared to RMB 4,344,000 in the same period of 2021, representing a growth of approximately 22%[37]. - Cost of sales rose from approximately RMB 135.7 million to approximately RMB 144.2 million, an increase of approximately RMB 8.5 million or about 6.3%[53]. - Administrative and other operating expenses increased from approximately RMB 11.2 million to approximately RMB 14.5 million, an increase of approximately RMB 3.3 million or about 29.6%[55]. Revenue Sources - For the nine months ended September 30, 2022, total revenue reached RMB 202,943 thousand, an increase of 6.6% compared to RMB 190,785 thousand for the same period in 2021[28]. - The revenue from the "Jazz Rabbit" brand products was RMB 183,342 thousand, up 6.5% from RMB 171,587 thousand year-over-year[28]. - Revenue from customized products for the nine months ended September 30, 2022, was RMB 67,477 thousand, a slight decrease from RMB 68,376 thousand in the previous year[28]. - For the nine months ended September 30, 2022, the company reported a revenue increase driven by higher demand for disposable plastic fast food boxes, with significant sales to both domestic and international markets[45]. Shareholder Information - As of September 30, 2022, Mr. Xu holds a total of 375,982,760 shares, representing approximately 50.23% of the company's total shares[63]. - Mr. Xu's controlled corporation, Prize Investment Limited, owns 301,500,000 shares, accounting for 40.28% of the total shares[69]. - The beneficial ownership of shares by major shareholders includes Mr. Xu with 74,482,760 shares, representing 9.95%[69]. - The company has a total of 67,500,000 shares held by Merit Winner Limited, representing 9.02% of the total shares[69]. - Sun Kong Investments holds 54,000,000 shares, which is 7.21% of the total shares[69]. Acquisitions and Investments - The group acquired 100% equity of Beijing Youpinhui for a total consideration of RMB 20,571,430, completed on April 27, 2022, to expand its business scope[47]. - The group agreed to acquire 100% of the issued share capital of Yizhen Media for a total consideration of RMB 72,000,000 (approximately HKD 86,400,000)[76]. - The acquisition will be settled through the issuance of 336,000,000 new shares to Mr. Xu and 72,000,000 new shares each to Yizhen Media and Mr. Gong[76]. - The acquisition of Youpinhui Investment Holdings was completed on June 1, 2022, for a consideration of HKD 18,500,000, paid through the issuance of 74,000,000 ordinary shares[79]. Compliance and Governance - The company has no known competition or conflict of interest involving its directors or major shareholders as of September 30, 2022[73]. - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending September 30, 2022[75]. - The company’s compliance advisor, Zhongyi Capital Limited, has no relevant interests in the group as of September 30, 2022[74]. - The audit committee reviewed the unaudited consolidated financial statements for the nine months ended September 30, 2022, prior to submission to the board for approval[85]. Taxation - The company has no tax provision due to no taxable profits generated in any jurisdiction for the nine months ended September 30, 2022[31]. - The company recognized a provision for income tax in China at a rate of 25% for the taxable profits of its subsidiaries[32]. Other Financial Information - The company reported a financing cost of RMB 54,000 for the three months ended September 30, 2022, which is an increase from RMB 49,000 in the same period last year[8]. - The company reported a foreign exchange gain of RMB 195,000 for the three months ended September 30, 2022, compared to a gain of RMB 40,000 in the same period last year[8]. - The company adjusted its acquisition agreement for Yizhen Film, reducing its equity interest from 35% to 10%, with a total consideration of RMB 20,571,430, which includes the issuance of 74,482,760 new shares[78]. - The company has adopted new accounting standards effective from January 1, 2022, which did not have a significant impact on the financial statements[23].

Revenue and Growth - The group recorded revenue growth due to increased demand for disposable plastic lunch boxes, maintaining a high level of demand[15] - Revenue increased from approximately RMB 119.5 million to RMB 129.0 million, representing an increase of about RMB 9.5 million or 8.0%[21] - For the six months ended June 30, 2022, the company's revenue was RMB 129,034 thousand, an increase of 7.7% compared to RMB 119,518 thousand for the same period in 2021[84] - The group reported external customer revenue of RMB 128,793 thousand for the six months ended June 30, 2022, compared to RMB 118,587 thousand for the same period in 2021, reflecting an increase of approximately 8.3%[134] - Revenue from the "Jazz Rabbit" brand products for the six months ended June 30, 2022, was RMB 115,437 thousand, compared to RMB 106,726 thousand for the same period in 2021, representing an increase of approximately 8.0%[133] Profitability - Gross profit increased from approximately RMB 34.4 million to RMB 37.3 million, up about RMB 2.9 million or 8.4%, with a slight increase in gross margin from 28.8% to 28.9%[23] - The net profit for the period was RMB 15,461 thousand, compared to RMB 15,608 thousand for the same period in 2021, indicating a decrease of 0.9%[84] - The total comprehensive income for the six months ended June 30, 2022, was RMB 15,142,000, a decrease from RMB 15,616,000 in the same period of 2021, reflecting a decline of about 3%[91] - The company reported a profit of RMB 15,461,000 for the six months ended June 30, 2022, compared to RMB 15,608,000 for the same period in 2021, showing a slight decrease of approximately 0.9%[91] Expenses and Costs - Cost of sales rose from approximately RMB 85.1 million to RMB 91.8 million, an increase of about RMB 6.7 million or 7.8%[22] - Administrative and other operating expenses increased from approximately RMB 7.2 million to RMB 9.0 million, an increase of about RMB 1.8 million or 25.2%[24] - Employee costs for the six months ended June 30, 2022, were approximately RMB 8.3 million, an increase from RMB 7.8 million for the same period in 2021[47] - The cost of research and development, including employee costs, was RMB 2,995 thousand for the six months ended June 30, 2022, compared to RMB 2,558 thousand for the same period in 2021, indicating an increase of approximately 17.1%[139] Acquisitions and Investments - The group acquired 100% equity of Beijing Youpinhui, gaining approximately 40,000 daily active users[18] - The group completed the acquisition of Yizhen Media for a total consideration of RMB 20,571,430[17] - The total consideration for the acquisition of Yizhen Film was RMB 72 million (equivalent to HKD 86.4 million), paid through the issuance of new shares[39] - The company signed an agreement to acquire 100% of Youpinhui Investment Holdings for HKD 18.5 million, completed on June 1, 2022[41] - The company acquired property, plant, and equipment amounting to approximately RMB 15,217,000 during the six months ended June 30, 2022, compared to RMB 3,796,000 in the same period of 2021[150] Financial Position - Cash and cash equivalents increased to approximately RMB 110.0 million from RMB 107.6 million[32] - The total assets as of June 30, 2022, amounted to RMB 165,308 thousand, an increase from RMB 153,456 thousand as of December 31, 2021[88] - The total equity increased to RMB 213,092 thousand as of June 30, 2022, compared to RMB 165,439 thousand at the end of 2021[88] - The company's cash and cash equivalents were RMB 110,021 thousand, showing a slight increase from RMB 107,638 thousand at the end of 2021[88] - The company's lease liabilities as of June 30, 2022, amounted to RMB 3,722,000, an increase from RMB 3,426,000 as of December 31, 2021[155] Shareholder Information - The company’s major shareholder, Mr. Xu, holds approximately 50.23% of the total ordinary shares[54] - The total issued and paid-up ordinary shares increased to 748,482,760 as of June 30, 2022, from 600,000,000 as of December 31, 2021[182] Management and Governance - The overall management and strategic development of the group are overseen by the chairman and executive director, Mr. Xu Youjiang[15] - The company has established an audit committee to oversee financial reporting and internal controls, ensuring compliance with corporate governance standards[78] - There were no significant changes in the board of directors' information that required disclosure since the last annual report[77] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies and products to drive future growth[92] - The company is progressing faster than planned in its business development according to its business objectives[51]

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]