Group 1 - The National Health Commission is revising the "Smart Medical Level Evaluation Method and Standards (2025 Edition)" to promote the construction of smart hospitals, focusing on the integration of smart medical, smart services, and smart management [1] - The new standards will optimize evaluation levels, indicators, roles, and projects, while adding requirements for artificial intelligence and domestic product substitution [1] - The initiative encourages medical institutions to adopt new technologies and self-innovated products to drive innovation and development in medical services [1] Group 2 - New New Technology Co., Ltd. is a leading IT solution provider in China's healthcare sector, leveraging AI and big data to support the digital transformation of the medical industry [2] - The company offers various innovative IT solutions, including medical quality control and safety warning platforms, to enhance medical quality and internal management efficiency [2] - With the implementation of new medical policies, New New Technology continues to develop and innovate new products and technologies for better integration in medical record quality control and management [2] Group 3 - The company's medical record quality control products have integrated advanced technologies such as multi-dimensional data analysis, natural language processing (NLP), and large models [3] - The updated products provide enhanced capabilities in quality control and knowledge base retrieval, transitioning towards more precise applications [3] - New New Technology aims to continuously improve its product service levels and capabilities to support the digital transformation of the healthcare industry, contributing to the effective release of high-quality medical service system values [3]

Financial Performance - Newlink Technology Inc. reported a revenue increase of 15% year-over-year, reaching $120 million for the fiscal year 2024[4]. - In 2024, the company achieved a revenue growth of 13.6% compared to 2023, reaching RMB 278.8 million[17]. - The company projects a revenue growth of 20% for the next fiscal year, targeting $144 million[4]. - Gross profit for 2024 increased by 4.9% year-on-year, amounting to RMB 38.9 million[17]. - The gross margin improved to 45%, up from 40% in the previous year[4]. - The company recorded a net loss of RMB 93.0 million for 2024, compared to a loss of RMB 69.7 million in 2023[15]. - The pre-tax loss for 2024 was RMB 96.1 million, compared to a pre-tax loss of RMB 71.0 million in 2023[64]. - Annual loss for 2024 was RMB 93.0 million, a 33.4% increase from RMB 69.7 million in 2023, mainly due to losses from equity investments and increased operating expenses[66]. User Growth and Market Expansion - The user base expanded by 25%, with active users now totaling 1.5 million[4]. - The company plans to enter two new international markets by Q3 2025, aiming to increase global presence[4]. - The establishment of a new subsidiary in Shanxi aims to enhance the company's market strategy in North China[12]. - The company has established a stable customer base, including 10 Fortune 500 clients and 12 China 500 clients, contributing to its revenue growth[41]. Research and Development - Newlink is investing $10 million in R&D for new product development, focusing on AI and automation technologies[4]. - R&D expenditure for 2024 was RMB 71.5 million, a 69.0% increase from RMB 42.3 million in 2023, driven by increased amortization of deferred development costs and direct R&D expenses[60]. - The company continues to focus on R&D in AI and big data analytics, enhancing its IT solutions to meet customer needs[42]. Corporate Governance - The board consists of six directors, including three executive directors and three independent non-executive directors[22]. - The board's composition ensures a balance of executive and independent oversight, enhancing corporate governance[26]. - The board is committed to maintaining high standards of corporate governance to enhance shareholder value and transparency[97]. - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific aspects of the company's affairs[120]. Shareholder Engagement - The company has a dividend policy that allows for the declaration of dividends at the shareholders' meeting, provided it does not impair the company's ability to meet its debts[149]. - The company emphasizes effective communication with shareholders to enhance investor relations and understanding of business performance and strategy[155]. - The company has established procedures for shareholders to request special meetings, requiring at least 10% of voting shares[151]. Awards and Recognition - The company received multiple awards in 2024, including the "Industry Influence Award" and "Outstanding Medical Technology Innovation Award"[14]. - Newlink Technology was selected as one of the "Top 100 Financial Technology Companies in China" at the 2024 Zhongguancun Forum, highlighting its competitive position in the fintech sector[173]. - The company received the "2023 Outstanding Service Partner Award" from a major joint-stock bank client, indicating strong client relationships and service quality[169]. Environmental, Social, and Governance (ESG) - Newlink Technology emphasizes environmental protection as a key development strategy while pursuing its business goals, reflecting its commitment to ESG principles[168]. - The board is committed to monitoring ESG risks and adjusting business strategies accordingly, ensuring effective management of ESG issues[181]. - The company has set quantifiable environmental goals related to greenhouse gas emissions, resource consumption, and waste management[182]. - The ESG governance structure includes an ESG working committee and cross-departmental teams to implement and track ESG policies[184].

Core Insights - New New Technology (09600.HK) reported a revenue of RMB 278.8 million for 2024, representing a year-on-year growth of 13.6% compared to 2023 [1] - The company's gross profit increased by 4.9% year-on-year to RMB 38.9 million in 2024 [1] - The software development services segment generated RMB 243.2 million in revenue, accounting for 87.2% of total revenue, with a significant year-on-year growth of 35.5% [1] Financial Performance - Operating cash flow net income reached RMB 24.0 million, a substantial increase of 116.2% from RMB 11.1 million in 2023 [1] - Despite not achieving profitability in 2024, the growth in main business revenue and gross profit, along with the increase in operating cash flow, is expected to lay a solid foundation for rapid business development in 2025 [2] Strategic Developments - The company has established new subsidiaries in multiple locations including Hong Kong, Shenzhen, and Shanxi to enhance market presence and promote diversified collaborative development [1] - New New Technology focuses on "technological research and innovation" and "business model innovation," leveraging advanced technologies such as artificial intelligence and big data analytics for new product development and service integration [2] - The company has shown resilience despite challenges from a slowing domestic economy and complex external environments, maintaining steady business operations and gradually forming a stable operational style [2]

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 278,822 thousand, an increase of 13.6% from RMB 245,495 thousand in 2023[4] - Gross profit for 2024 was RMB 38,869 thousand, up from RMB 37,091 thousand in 2023, reflecting a gross margin of 13.9%[4] - The company reported a loss before tax of RMB 96,068 thousand for 2024, compared to a loss of RMB 70,971 thousand in 2023, indicating a deterioration in financial performance[4] - The net loss attributable to owners of the company for 2024 was RMB 92,463 thousand, compared to RMB 69,159 thousand in 2023, representing a 33.8% increase in losses[8] - Basic and diluted loss per share for 2024 was RMB (10.44), compared to RMB (8.79) in 2023, indicating a worsening loss per share[7] - The company recorded a pre-tax loss of RMB 96.1 million in 2024, compared to a pre-tax loss of RMB 71.0 million in 2023[83] - Annual loss expanded by 33.4% to RMB 93.0 million, influenced by losses from equity investments and increased operating expenses[85] Revenue Breakdown - Software development services generated RMB 243,195 thousand in 2024, up from RMB 179,490 thousand in 2023, reflecting a growth of 35.5%[31] - Technical and maintenance services revenue decreased to RMB 26,982 thousand in 2024 from RMB 37,644 thousand in 2023, a decline of 28.5%[31] - Standard software sales dropped significantly to RMB 8,645 thousand in 2024 from RMB 28,361 thousand in 2023, a decrease of 69.5%[31] - In 2024, the software development services generated revenue of RMB 243.2 million, accounting for 87.2% of total revenue, representing a year-on-year growth of 35.5%[68] - Innovative solutions contributed RMB 80.2 million to software development services revenue, making up 33.0% of that segment[68] - Revenue from technical and maintenance services decreased by 28.2% to RMB 27.0 million, representing only 9.7% of total revenue in 2024[69] - Standard software sales generated RMB 8.6 million, accounting for 3.1% of total revenue, with innovative solutions contributing 94.2% of this segment[70] Assets and Liabilities - Total assets decreased to RMB 882,822 thousand in 2024 from RMB 947,685 thousand in 2023, a decline of 6.9%[6] - Total liabilities decreased to RMB 143,384 thousand in 2024 from RMB 158,781 thousand in 2023, a reduction of 9.7%[6] - The company’s equity attributable to owners decreased to RMB 739,268 thousand in 2024 from RMB 786,971 thousand in 2023, a decline of 6.0%[10] - Accounts receivable decreased to RMB 203,965,000 from RMB 261,866,000, a reduction of 22%[43] - The company reported a total of RMB 60.856 million in accounts payable as of the reporting period end, down from RMB 71.741 million in 2023[48] Research and Development - Research and development expenses rose significantly to RMB 71,524 thousand in 2024 from RMB 42,315 thousand in 2023, an increase of 68.9%[7] - Research and development expenses surged by 69.0% to RMB 71.5 million, driven by increased direct spending and deferred development cost amortization[79] Cash Flow and Liquidity - The company’s cash and cash equivalents increased to RMB 348,240 thousand in 2024 from RMB 330,458 thousand in 2023, showing a slight improvement in liquidity[10] - The net cash generated from operating activities significantly increased by 116.2%, amounting to RMB 24.0 million in 2024, up from RMB 11.1 million in 2023[53] - Operating cash inflow reached RMB 24.0 million, a significant increase of 116.2% compared to RMB 11.1 million in 2023[86] Market and Strategic Initiatives - The company plans to enhance its market penetration in the Greater Bay Area and expand its solutions and products across broader regional markets[52] - The group plans to implement a dual-path expansion strategy focusing on "core area penetration and emerging market cultivation" to enhance its competitive edge by 2025[64] - The group aims to strengthen its cash flow management and optimize asset allocation to enhance operational resilience and risk management capabilities[65] Corporate Governance and Compliance - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, confirming compliance with applicable accounting standards[125] - The company has adopted all applicable principles and code provisions of the Corporate Governance Code as a benchmark for its governance practices[123] Employee and Shareholder Matters - The employee cost for 2024, including director remuneration, was approximately RMB 152.6 million, with a total of 622 employees as of December 31, 2024[114] - The board has resolved not to recommend any final dividend for the year ending December 31, 2024[120] - The company repurchased a total of 5,952,800 shares at a total cost of approximately HKD 2.47 million, reflecting confidence in its business outlook[118]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 122,905,000, an increase of 4.9% compared to RMB 117,953,000 for the same period in 2023[11]. - Gross profit for the same period was RMB 24,725,000, a decrease of 1.4% from RMB 25,064,000 in 2023[11]. - The company reported a pre-tax loss of RMB (55,403,000), compared to a loss of RMB (26,525,000) in the previous year, indicating a significant increase in losses[11]. - The net loss for the period was RMB (55,418,000), compared to a loss of RMB (27,007,000) in 2023, highlighting worsening financial performance[11]. - Basic and diluted loss per share for the period was RMB (6.67), compared to RMB (3.40) for the same period in 2023[68]. - The company reported a loss attributable to shareholders of RMB 552 million, an increase of RMB 284 million year-on-year[13]. - The company reported a net amount of approximately HKD 790.4 million from its global offering, with an oversubscription amount of HKD 140.3 million[54]. - The group reported a pre-tax loss of RMB 55,226,000 for the six months ended June 30, 2024, compared to a loss of RMB 26,758,000 for the same period in 2023, indicating an increase in losses[86]. Assets and Liabilities - Total assets as of June 30, 2024, were RMB 945,290,000, slightly down from RMB 947,685,000 at the end of 2023[11]. - Total liabilities increased to RMB 175,035,000 from RMB 158,781,000 at the end of 2023, reflecting a rise in financial obligations[11]. - The total equity decreased to RMB 770,255,000 from RMB 788,904,000, indicating a decline in shareholder value[11]. - Cash and cash equivalents amounted to RMB 303.6 million as of June 30, 2024[21]. - The company's equity return rate decreased from -3.2% for the six months ended June 30, 2023, to -7.2% for the six months ended June 30, 2024, primarily due to losses incurred[42]. - The asset-liability ratio increased from 1.0% as of December 31, 2023, to 2.6% as of June 30, 2024, mainly due to an increase in bank borrowings[42]. - As of June 30, 2024, the company's accounts receivable amounted to RMB 262.6 million, with a recorded impairment loss of RMB 54.4 million[38]. - Accounts receivable decreased to RMB 208,193,000 from RMB 218,549,000, a decline of approximately 4.7%[69]. - The company reported a total equity of RMB 770,255,000 as of June 30, 2024, down from RMB 788,904,000, a decrease of about 2.3%[70]. Revenue Breakdown - In the first half of 2024, the company achieved a revenue of RMB 1.229 billion, representing a slight increase of 4.2% year-on-year[13]. - The software development services contributed 85.3% of total revenue, with a significant year-on-year increase of 25.7% to RMB 1.048 billion[13]. - Revenue from innovative solutions utilizing AI and big data analytics reached RMB 601 million, accounting for 57.3% of the software development services revenue[13]. - Revenue from software development services rose by 25.7% to RMB 104.8 million, accounting for 85.3% of total revenue[16]. - Revenue from technical and maintenance services generated RMB 13,839,000, and standard software sales contributed RMB 4,297,000 for the six months ended June 30, 2024[79]. Research and Development - The company has faced increased R&D expenses due to a rise in deferred development costs and the number of research projects[13]. - Research and development expenses surged by 106.6% to RMB 37.6 million, driven by increased project numbers and deferred development cost amortization[25]. - Research and development expenses for the current period amounted to RMB 37,648,000, up from RMB 18,202,000 in the previous year, reflecting a significant increase in investment in innovation[86]. Corporate Governance - The board believes that maintaining high corporate governance standards is crucial for protecting shareholder interests and enhancing corporate value[48]. - The company has complied with the corporate governance code, with the exception of the separation of roles between the chairman and CEO, which is held by Mr. Zhai[49]. - All directors confirmed compliance with the securities trading standard code during the six months ended June 30, 2024[50]. Future Outlook - Future outlook includes potential market expansion and new product development strategies, although specific figures were not disclosed in the report[11]. - The company plans to enhance its focus on technology innovation and expand its market presence in the second half of 2024[15]. - The company aims to improve its organizational processes and talent management to support future growth[15]. Employee and Management Information - As of June 30, 2024, the group had 615 employees, a decrease of 83 employees year-on-year[43]. - Employee costs, including director remuneration, amounted to approximately RMB 65.8 million for the six months ended June 30, 2024[43]. - The management compensation for the first half of 2024 was RMB 1,656,000, an increase of 25% compared to RMB 1,325,000 in the same period of 2023[106]. Cash Flow and Financing - The net cash used in operating activities for the six months ended June 30, 2024, was RMB 34,291,000, compared to RMB 30,896,000 for the same period in 2023, representing an increase of approximately 7.5%[72]. - The financing activities net cash inflow for the six months ended June 30, 2024, was RMB 47,618,000, compared to a net cash outflow of RMB 21,196,000 in 2023, indicating a positive shift in financing[72]. - The company issued 157,302,880 new ordinary shares at a subscription price of HKD 0.28 per share, raising approximately RMB 39,661 thousand for general working capital[101]. Awards and Recognition - The company received multiple industry awards, including the "2024 Outstanding Medical Technology Innovation Award" and "2024 Digital Innovation Enterprise Award" in 2024[14].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 122,905 thousand, an increase of 4.9% compared to RMB 117,953 thousand for the same period in 2023[1]. - Gross profit for the same period was RMB 24,725 thousand, a slight decrease of 1.4% from RMB 25,064 thousand in 2023[1]. - The company reported a loss before tax of RMB (55,403) thousand, compared to a loss of RMB (26,525) thousand in the previous year, indicating a significant increase in losses[3]. - The net loss attributable to the owners of the company was RMB (55,226) thousand, compared to RMB (26,758) thousand in 2023, highlighting a worsening financial performance[3]. - The company’s basic and diluted loss per share for the six months ended June 30, 2024, was RMB (6.67), compared to RMB (3.40) in the same period of 2023[4]. - The group reported a pre-tax loss of RMB 98,180,000 for the six months ended June 30, 2024, compared to RMB 92,889,000 for the same period in 2023, reflecting an increase in costs[16]. - The company faced a loss attributable to shareholders of RMB 55.2 million, an increase of RMB 28.4 million compared to the previous year, primarily due to increased R&D expenses and expected credit losses[33]. - The gross profit for the same period decreased by 1.6% year-on-year to RMB 24.7 million, impacted by a 5.7% increase in sales costs to RMB 98.2 million[33]. - The company recorded a pre-tax loss of RMB 55.4 million, compared to a loss of RMB 26.5 million in the same period last year[51]. Assets and Liabilities - Total assets as of June 30, 2024, were RMB 945,290 thousand, a slight decrease from RMB 947,685 thousand as of December 31, 2023[1]. - Total liabilities increased to RMB 175,035 thousand from RMB 158,781 thousand, reflecting a rise of 10.2%[1]. - The company’s total equity decreased to RMB 770,255 thousand from RMB 788,904 thousand, reflecting a decline of 2.3%[6]. - The company had cash reserves of RMB 303.6 million and bank borrowings of RMB 20.0 million as of June 30, 2024[43]. - The company's debt-to-equity ratio increased from 1.0% as of December 31, 2023, to 2.6% as of June 30, 2024, mainly due to an increase in bank borrowings[64]. Research and Development - Research and development expenses surged to RMB 37,648 thousand, up from RMB 18,202 thousand in the previous year, indicating a focus on innovation[3]. - Research and development expenses increased by 106.6% to RMB 37.6 million, driven by higher deferred development costs and an increase in the number of R&D projects[47]. - As of June 30, 2024, the company held a total of 225 software copyrights, with 21 new copyrights obtained during the first half of 2024[34]. Revenue Breakdown - Revenue from software development services reached RMB 104,769,000, up from RMB 83,397,000 in the previous year, indicating a significant increase of 25.6%[12]. - The software development services contributed 85.3% of total revenue, with a significant year-on-year growth of 25.7% to RMB 104.8 million[34]. - Revenue from innovative solutions utilizing AI and big data analytics reached RMB 60.1 million, accounting for 57.3% of the software development services revenue[34]. - Revenue from technical and maintenance services decreased by 33.7% to RMB 13.8 million, down from RMB 20.8 million in the previous year[38]. - Standard software sales revenue fell by 68.6% to RMB 4.3 million, with innovative solutions contributing RMB 3.8 million, or 88.4% of this segment[39]. Cash Flow and Financing - Cash and cash equivalents increased significantly to RMB 3,317 thousand from RMB 96 thousand, indicating improved liquidity[5]. - Interest income from banks increased to RMB 4,674,000, compared to RMB 3,903,000 in the previous year, showing a growth of 19.7%[13]. - The group incurred financing costs of RMB 1,067,000, which is a substantial increase from RMB 525,000 in the same period last year, representing a rise of 102.0%[14]. - The group recognized a total of RMB 11,128,000 in impairment losses on receivables, compared to RMB 8,084,000 in the previous year, indicating a rise of 37.8%[16]. Corporate Governance - The company has committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[70]. - The company has adopted the corporate governance code and has complied with its principles and provisions during the six-month period ending June 30, 2024[71]. - The audit committee, consisting of three independent non-executive directors, has reviewed the interim financial results for the six months ending June 30, 2024[74]. - The interim financial information for the six months ending June 30, 2024, has not been audited but has been reviewed by an external auditor[75]. - The company has confirmed compliance with the standard code of conduct for securities trading by all directors during the reporting period[72]. Future Outlook - The company plans to enhance its market penetration and expand its strategic layout across various regions in the second half of 2024[35]. - The company aims to strengthen collaboration among subsidiaries and focus on technological innovation to improve customer experience and drive high-quality development[35].

Financial Performance - Newlink Technology Inc. reported a revenue increase of 15% year-over-year, reaching $150 million in 2023[1]. - Total revenue for 2023 was RMB 245.495 million, a decrease of 5.8% from RMB 260.554 million in 2022[16]. - Gross profit for 2023 was RMB 37.091 million, down 47.4% from RMB 70.459 million in 2022[16]. - The company reported a net loss of RMB 69.684 million for 2023, compared to a profit of RMB 17.439 million in 2022[16]. - Operating cash flow for 2023 was RMB 18.7 million, an increase of 33.6% from RMB 14.0 million in 2022[18]. - The company recorded a pre-tax loss of RMB 710 million in 2023, compared to a pre-tax profit of RMB 208 million in 2022[64]. - Annual loss for 2023 was RMB 697 million, a significant decline from a profit of RMB 174 million in 2022[66]. - The company's gross profit fell sharply by 47.4% to RMB 37.1 million, with a gross margin dropping from 27.1% in 2022 to 15.1% in 2023, attributed to a 9.6% increase in sales costs to RMB 208.4 million[40]. - The company maintained a healthy financial position with cash reserves of RMB 3,305 million as of December 31, 2023[53]. Market Expansion and Strategy - The user base expanded by 20%, totaling 1.2 million active users by the end of 2023[1]. - The company provided a revenue guidance of $180 million for 2024, indicating a projected growth of 20%[1]. - Newlink Technology Inc. plans to enter two new markets in Southeast Asia by Q3 2024, aiming for a market share of 5% within the first year[1]. - The company completed the acquisition of a software firm for $25 million, expected to enhance its service offerings[1]. - The company aims to improve accounts receivable turnover efficiency to achieve profitability in a challenging macro environment[18]. - The company is focusing on enhancing customer engagement through new digital marketing strategies, aiming for a 30% increase in customer retention[1]. Research and Development - Newlink Technology Inc. is investing $10 million in R&D for new product development in AI and automation technologies[1]. - The company has established a research and development center in Chengdu and a regional headquarters in Southwest China, further expanding its operations to Hong Kong and Macau, aiming to penetrate the Greater Bay Area and Southeast Asia markets[20]. - Research and development expenses surged by 121.5% to RMB 423 million in 2023 from RMB 191 million in 2022, driven by increased amortization of deferred development costs[59]. - New New Technology focuses on AI and big data analytics to provide high-value IT solutions across various industries, including finance, healthcare, transportation, and logistics[38]. Corporate Governance - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced governance structure[23]. - The audit committee consists of three independent non-executive directors, including Chairman You Linfeng, overseeing financial reporting and risk management systems[112]. - The company has established a robust internal control and risk management system, as monitored by the board and its committees[107]. - The board is responsible for significant matters including company policies, strategy, budget, and major transactions[107]. - The company has appropriate liability insurance for directors and senior management against legal claims arising from company activities[109]. Environmental, Social, and Governance (ESG) Initiatives - The ESG report highlights the company's efforts and progress in the ESG field for the year 2023[145]. - The company aims to reduce environmental impact while achieving its business goals, reflecting its commitment to sustainable development[152]. - The company has established an ESG governance framework to promote corporate social responsibility and sustainable development[161]. - The company emphasizes environmental responsibility by adhering to various environmental laws and promoting green operations, including energy-saving measures[177]. - The company has set a greenhouse gas emission target to reduce per capita electricity consumption by 30% by the end of 2030, using 2020 as the baseline[189]. Employee and Workforce Management - The company emphasizes the importance of employee well-being and satisfaction, providing a safe and inclusive work environment[196]. - The company has established a standardized recruitment process to clarify roles and responsibilities during hiring[199]. - Internal recruitment is prioritized for technical positions to improve resource allocation and employee engagement[199]. - No incidents of child labor or forced labor have been reported this year, ensuring compliance with labor regulations[200].

Financial Performance - The group recorded a pre-tax loss of RMB 71.0 million in 2023, compared to a pre-tax profit of RMB 20.8 million in 2022, largely due to increased expected credit losses and administrative expenses[16] - The group incurred a net loss of RMB 69.7 million for the year 2023, compared to a net profit of RMB 17.4 million in 2022[18] - The company reported a net loss attributable to shareholders of RMB 69.2 million, reversing the previous trend of profitability[76] - The company reported a loss before tax of RMB 70.9 million for 2023, compared to a profit of RMB 20.8 million in 2022[111] - The company reported a basic and diluted loss per share of RMB (8.79) for 2023, compared to earnings of RMB 2.22 per share in 2022[119] Revenue and Sales - The company reported a revenue of RMB 245.5 million for the year ended December 31, 2023, a decrease of 5.8% compared to RMB 260.6 million in 2022[74] - Revenue from software development services increased by 7.4% to RMB 179.5 million, accounting for 73.1% of total revenue[74] - Revenue from technical and maintenance services in 2023 was RMB 37.6 million, a decrease of 25.7% from RMB 50.6 million in 2022[105] - Standard software sales revenue fell by 33.5% to RMB 28.4 million in 2023, down from RMB 42.7 million in 2022[106] - The company reported that approximately RMB 26,630,000 of total revenue came from a single customer, accounting for over 10% of total revenue[159] Cash Flow and Assets - The group reported cash reserves of RMB 330.5 million as of December 31, 2023, with operating cash inflow increasing to approximately RMB 18.7 million from RMB 14.0 million in 2022, primarily due to accelerated cash collections[1] - The group's net current assets decreased from approximately RMB 689.9 million as of December 31, 2022, to approximately RMB 582.7 million as of December 31, 2023, mainly due to a decrease in cash and cash equivalents and an increase in accounts payable[1] - Cash and cash equivalents decreased to RMB 330,458 thousand from RMB 414,250 thousand, a reduction of 20.2%[121] - The total assets decreased to RMB 947,685 thousand as of December 31, 2023, from RMB 991,204 thousand in 2022, representing a decline of 4.4%[114] Accounts Receivable - As of December 31, 2023, accounts receivable amounted to RMB 261.9 million, with an impairment loss of RMB 43.3 million recorded[36] - The aging analysis of accounts receivable shows that amounts overdue for more than one year increased to RMB 76.8 million in 2023 from RMB 62.5 million in 2022[86] - For the year ending December 31, 2023, accounts receivable net of expected credit loss provisions was RMB 218,549,000, compared to RMB 206,190,000 in 2022, reflecting an increase of approximately 5.5%[194] Expenses - Research and development expenses surged by 121.5% to RMB 42.3 million in 2023, up from RMB 19.1 million in 2022, driven by increased amortization of deferred development costs and new identifiable intangible asset amortization from the acquisition of Dongruan Yuetong[9] - Administrative expenses rose by 28.6% to RMB 36.9 million in 2023 from RMB 28.7 million in 2022, influenced by new administrative costs from the acquisition of Dongruan Yuetong[8] - Sales and distribution expenses increased by 16.7% to RMB 14.0 million in 2023 from RMB 12.0 million in 2022, primarily due to new expenses from the acquisition of Dongruan Yuetong[7] - Employee benefits expenses, including salaries and pensions, increased to RMB 168,104,000 in 2023 from RMB 119,728,000 in 2022, reflecting a growth of 40.3%[173] Investments and Capital Expenditures - The company has no significant investments or major capital asset acquisitions in 2023[31] - The company will continue to invest in research and development of artificial intelligence and big data analytics to create comprehensive solutions and products across various industries in 2024[80] Corporate Governance - The board has resolved not to recommend any final dividend for the year ending December 31, 2023[54] - The company has adopted all applicable principles and code provisions of the corporate governance code as a standard for its governance practices[58] - The board believes that having the same individual serve as both Chairman and CEO enhances management efficiency and strategic planning[57] Future Outlook - The company plans to enhance collaboration among subsidiaries and integrate internal and external resources to expand business reach and improve product offerings in 2024[80] - The company aims to focus on technological innovation and business model innovation in 2024 to enhance customer experience and achieve high-quality development[80] - The company plans to continue focusing on digital and intelligent transformation opportunities in 2024, aiming for steady growth and quality improvement[103]

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 117,953,000, a slight increase from RMB 116,045,000 in the same period of 2022, representing a growth of 1.6%[15] - Gross profit decreased to RMB 25,064,000, down from RMB 33,204,000 in the previous year, indicating a decline of 24.4%[15] - The company reported a loss before tax of RMB (26,525,000), compared to a profit of RMB 19,363,000 in the same period last year[15] - The company incurred a net loss of RMB (27,007,000) for the period, compared to a profit of RMB 17,399,000 in the same period of 2022[15] - For the six months ended June 30, 2023, the company reported a total comprehensive loss attributable to owners of the company of RMB (17,827) thousand, compared to a profit of RMB 38,332 thousand for the same period in 2022[132] - The basic and diluted loss per share for the period was RMB (3.40), a decrease from RMB 2.21 in the previous year[132] Assets and Liabilities - Total assets as of June 30, 2023, were RMB 976,496,000, a decrease from RMB 991,204,000 at the end of 2022[15] - Total liabilities increased to RMB 141,051,000 from RMB 108,593,000, reflecting a rise of 29.8%[15] - Total equity decreased to RMB 835,445,000 from RMB 882,611,000, showing a decline of 5.3%[15] - As of June 30, 2023, the company's accounts receivable amounted to RMB 283.7 million, with recorded impairment losses of RMB 24.7 million[51] - As of June 30, 2023, the company's net current assets were RMB 615.0 million, a decrease of 10.9% from RMB 689.9 million as of December 31, 2022[70] - Cash and cash equivalents decreased by 22.1% to RMB 322.9 million as of June 30, 2023, down from RMB 414.3 million as of December 31, 2022, primarily due to the repayment of bank loans and increases in accounts receivable and payable[70] Revenue Breakdown - Revenue from software development services decreased by 16.8% to RMB 83.4 million, down from RMB 100.2 million in the previous year[24] - Revenue from standard software sales surged by 136.2% to RMB 13.7 million, compared to RMB 5.8 million in the previous year[24] - Total customer contract revenue amounted to RMB 117,953,000, slightly up from RMB 116,045,000 in the previous year, indicating a growth of about 1.6%[189] - Revenue recognized at a point in time was RMB 13,749,000, compared to RMB 5,835,000 in the previous year, showing an increase of approximately 134.5%[189] - Revenue recognized over time was RMB 104,204,000, down from RMB 110,210,000, reflecting a decrease of about 5.5%[189] Research and Development - The company plans to invest in research and development to drive innovation and maintain competitive advantage in the market[15] - Research and development expenses increased significantly by 156.3% to RMB 18.2 million, up from RMB 7.1 million in the same period last year[28] - The company has obtained three invention patents and 19 software copyrights in the first half of 2023, reflecting its commitment to R&D and industry standards[38] - The company plans to continue investing in artificial intelligence and big data analytics technologies to enhance existing product functionalities and develop comprehensive solutions[20] Operational Strategy - The company is focusing on expanding its market presence and enhancing its product offerings through new technology developments[15] - Future outlook includes strategic initiatives aimed at improving operational efficiency and exploring potential mergers and acquisitions[15] - The company aims to optimize processes and enhance organizational synergy to improve risk resilience and accelerate the development of innovative technology applications[40] - The company expanded its regional market presence by establishing an operational center in Hong Kong and a research and development center in Chengdu[19] Expenses - Administrative expenses for the reporting period amounted to RMB 16.7 million, a 47.8% increase from RMB 11.3 million in the same period last year, mainly due to the acquisition of a subsidiary and increased employee severance payments[65] - Sales and distribution expenses rose to RMB 8.4 million, a 52.7% increase from RMB 5.5 million in the same period last year, mainly due to the acquisition of a subsidiary and higher employee severance payments[45] - The company's employee costs, including salaries and bonuses, amounted to approximately RMB 74.6 million for the six months ended June 30, 2023, with a total of 698 employees[83] Cash Flow and Financing - Net cash used in operating activities for the six months ended June 30, 2023, was RMB (27,062) thousand, an improvement from RMB (43,355) thousand in the same period of 2022, representing a decrease of 37.5%[140] - Total cash and cash equivalents decreased by RMB 100,034 thousand, compared to a decrease of RMB 77,066 thousand in the prior year, indicating a 29.8% increase in cash outflow[140] - The company reported a significant increase in cash outflow from financing activities, totaling RMB (21,127) thousand compared to a net cash inflow of RMB 7,546 thousand in the previous year[140] Corporate Governance - The company has adopted the corporate governance code and has complied with its provisions, except for a deviation regarding the separation of roles between the chairman and CEO[113] - The company recognizes the importance of good corporate governance in enhancing shareholder value and has maintained high standards in this regard[90] - The audit committee has reviewed the financial performance for the six months ended June 30, 2023, ensuring compliance with relevant accounting standards[94] Shareholder Information - The company has a total of 786,514,400 shares issued as of June 30, 2023, with major shareholders holding significant stakes, including Nebula SC with 38.22%[109] - The company has not observed any incidents of employees failing to comply with the securities trading standards during the reporting period[92] - The company has not granted any share options under the post-IPO share option scheme for the six months ended June 30, 2023, and there are no unexercised options as of that date[120]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，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告全部或任何部份內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 NEWLINK TECHNOLOGY INC. 新 紐 科 技 有 限 公 司 * （於開曼群島註冊成立之有限公司） （股份代號：9600） 截至2023年6月30日止六個月之中期業績公告 財務概要 截至6月30日止六個月 2023年 2022年 人民幣千元 人民幣千元 （未經審核） （未經審核） 收入 117,953 116,045 毛利 25,064 33,204 除稅前（虧損）╱利潤 (26,525) 19,363 所得稅開支 (482) (1,964) 期內（虧損）╱利潤 (27,007) 17,399 於2023年 於2022年 6月30日 12月31日 人民幣千元 人民幣千元 ...