7月4日，截至港股收盘，恒生指数下跌0.64%，报23916.06点。金泰丰国际控股（09689.HK）收报0.33 港元/股，上涨13.79%，成交量56.8万股，成交额16.13万港元，振幅37.93%。 最近一个月来，金泰丰国际控股累计涨幅3.57%，今年来累计跌幅21.62%，跑输恒生指数19.99%的涨 幅。 财务数据显示，截至2024年12月31日，金泰丰国际控股实现营业总收入11.2亿元，同比减少9.67%；归 母净利润-884.2万元，同比减少485.95%；毛利率1.14%，资产负债率8.72%。 机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，石油及天然气行业市盈率（TTM）平均值为-3.5倍，行业中值1.83倍。金泰丰国际控股 市盈率-28.25倍，行业排名第28位；其他珠江钢管（01938.HK）为0.97倍、能源国际投资（00353.HK） 为1.83倍、CGII HLDGS（01940.HK）为3.97倍、中信资源（01205.HK）为5.35倍、中国海洋石油-R （80883.HK）为5.87倍。 本文源自：金融界 作者：行情君 资料显示，金泰丰国际控股有限公司 ...

Financial Performance - The company's revenue for the year ended December 31, 2024, was approximately RMB 1.12 billion, a decrease of about 9.7% compared to the previous year due to a decline in sales of other petrochemical products[11]. - Total revenue for the year ended December 31, 2024, was approximately RMB 1,119,646,000, a decrease from RMB 1,239,515,000 in 2023, representing a decline of about 9.7%[12]. - The gross profit for 2024 was approximately RMB 13 million, with a gross margin of 1.1%, which represents a decrease compared to the previous year[6]. - Gross profit for the year ended December 31, 2024, was RMB 12,778,000, with a gross margin of 1.1%, compared to a gross profit of RMB 57,896,000 and a margin of 4.7% in 2023, indicating a significant decline in profitability[15]. - The net loss for the year ended December 31, 2024, increased to approximately RMB 8,842,000 from RMB 1,509,000 in 2023, primarily due to reduced gross profit[22]. - Operating cash flow for the year ended December 31, 2024, was a net cash outflow of approximately RMB 172,017,000, compared to a net inflow of RMB 82,541,000 in 2023[23]. - Cash and cash equivalents as of December 31, 2024, were approximately RMB 33,410,000, down from RMB 189,706,000 in 2023, indicating a decrease of about 82.4%[24]. Sales and Market Dynamics - The total volume sold in 2024 was approximately 361,000 tons, with naphtha accounting for 38%, other chemical products 3%, and gasoline and diesel 59%[6]. - The domestic refined oil market showed an "N" shaped price trend in 2024, influenced by supply-demand dynamics and rising competition in the industry[5]. - The company is actively expanding sales channels for naphtha and industrial raw materials to optimize its revenue structure[6]. - The global economic uncertainties and geopolitical factors are expected to impact the company's performance in 2025, with a focus on promoting consumer spending and infrastructure investment in China[7]. Expenses and Cost Management - Sales cost for the year ended December 31, 2024, was approximately RMB 1,106,868,000, down from RMB 1,181,619,000 in 2023, reflecting a decrease of about 6.3%[13]. - The company paid approximately RMB 11 million in various taxes during the year[6]. - Distribution expenses decreased by approximately RMB 5,178,000 or 32.0% to about RMB 11,022,000 for the year ended December 31, 2024, due to reduced storage and handling costs[17]. - Administrative expenses decreased by approximately RMB 9,948,000 or 42.1% to about RMB 13,667,000 for the year ended December 31, 2024, primarily due to the absence of professional fees related to a stock exchange listing application[18]. Corporate Governance - The company has adhered to the corporate governance code as per the Stock Exchange Listing Rules for the year ending December 31, 2024[54]. - All directors confirmed compliance with the standard code of conduct for securities trading for the year ending December 31, 2024[55]. - The board consists of seven directors, including four executive directors and three independent non-executive directors[58]. - The audit committee held three meetings during the year ending December 31, 2024, focusing on financial reporting and risk management[66]. - The board is committed to maintaining effective corporate governance practices and ensuring compliance with relevant regulations[59]. Risk Management - The board is responsible for establishing and maintaining an effective risk management and internal control system[81]. - The risk management system includes annual risk identification and analysis, assessing the consequences and likelihood of risks, and developing risk management plans[82]. - Market risk is identified as a risk that could adversely affect profitability due to market price fluctuations, which the management actively monitors[84]. - The board has reviewed the risk management and internal control systems and found them effective and sufficient for the year ending December 31, 2024[89]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to aligning its green low-carbon strategy with China's carbon neutrality goals, actively collaborating with stakeholders to enhance operational sustainability[101]. - The company identified "Product Health and Safety," "Occupational Health and Safety," and "Energy Use" as the top three focus areas for the reporting period[114]. - Total greenhouse gas emissions decreased to 37.95 tons, a reduction of 29.66 tons or approximately 43.87% compared to 2023[122]. - The company has established a stakeholder engagement program to ensure a comprehensive understanding of stakeholder opinions and expectations[105]. - The company emphasizes the importance of corporate social responsibility and community investment through charitable activities[110]. Employee Management and Welfare - The total number of employees as of December 31, 2024, is 20, with a decrease of 17.65% in male employees from 17 to 14[146]. - Employee turnover rate for the reporting period is approximately 23.26%, down from 32.73% in the previous year[155]. - The company emphasizes employee welfare and mental health, adhering to national standards for product quality[143]. - The company is committed to providing a safe working environment and encourages employees to report any hazards or potential threats[156]. - The company has implemented various measures to reduce employee turnover, including competitive compensation and benefits[155]. Compliance and Legal Matters - The company has established policies to prevent bribery, fraud, and money laundering, with relevant compliance measures in place[180]. - The company has not been involved in any corruption-related violations or lawsuits during the reporting period[172]. - The company has obtained directors and employees' liability insurance to protect directors from potential claims[194]. - There are no significant contracts or arrangements established between the company and its controlling shareholders during the year ending December 31, 2024[192].

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 1,119,646,000, a decrease of 9.7% compared to RMB 1,239,515,000 in the previous year[2] - Gross profit for the same period was RMB 12,778,000, down from RMB 57,896,000, indicating a significant decline in profitability[2] - The net loss for the year was RMB 8,842,000, compared to a loss of RMB 1,509,000 in the previous year, reflecting a worsening financial position[2] - The company reported a basic loss per share of RMB 1.0, compared to RMB 0.2 in the previous year, indicating increased losses on a per-share basis[2] - The gross profit for the fiscal year ending December 31, 2024, decreased by approximately RMB 45,118,000 or 77.9% compared to the previous year, primarily due to market price volatility and the impact of electric vehicle popularity post-COVID-19[33] - The company reported a loss before tax of approximately RMB 10,600,000 in 2024, compared to a profit of about RMB 5,734,000 in 2023, primarily due to reduced gross profit[43] - The net loss for the year increased from approximately RMB 1,509,000 in 2023 to about RMB 8,842,000 in 2024, mainly due to reduced gross profit[45] Assets and Liabilities - Total assets decreased to RMB 463,058,000 from RMB 496,747,000, showing a reduction in the company's asset base[3] - Total liabilities also decreased to RMB 40,401,000 from RMB 65,248,000, indicating a reduction in the company's debt levels[3] - The company maintained cash and cash equivalents of RMB 33,410,000, down from RMB 189,706,000, highlighting liquidity challenges[3] - Trade receivables as of December 31, 2024, were RMB 20,542 million, down from RMB 51,017 million in 2023, indicating a significant reduction of 59.8%[27] - The net amount of trade receivables after provisions was RMB 19,099 million for 2024, compared to RMB 49,574 million in 2023, showing a decrease of 61.5%[27] - As of December 31, 2024, the group's current assets amounted to approximately RMB 421,381,000, a decrease of approximately RMB 9,691,000 compared to RMB 431,072,000 as of December 31, 2023[48] - As of December 31, 2024, the group had no borrowings, maintaining a debt ratio of zero[49] Revenue Sources and Sales - The company primarily engages in the sale of refined oil and other petrochemical products in China[11] - Revenue from external customer transactions accounted for approximately 10% of total revenue, with Customer A contributing RMB 964,279,000 and Customer B contributing RMB 163,049,000 in the previous year[15] - The sales of finished oil products generated revenue of RMB 1,013,353,000 from 145,587 tons in 2024, compared to RMB 894,128,000 from 130,591 tons in 2023, indicating an increase in average price per ton[35] - Service income for the fiscal year ending December 31, 2024, was approximately RMB 25,828,000, significantly higher than RMB 15,988,000 in 2023, reflecting a growth in service offerings[35] Cost and Expenses - The cost of goods sold for the year was RMB 1,221,434,000, compared to RMB 1,131,557,000 in the previous year, indicating an increase of approximately 7.9%[16] - The total operating expenses for the year were RMB 1,099,607,000, compared to RMB 1,238,657,000 in the previous year, showing a reduction of approximately 11.3%[16] - The total expenses for the year included significant costs such as transportation expenses of RMB 17,799,000 and short-term lease expenses of RMB 7,982,000[16] - Distribution expenses decreased by approximately RMB 5,178,000 or 32.0%, from about RMB 16,200,000 in 2023 to approximately RMB 11,022,000 in 2024[40] - Administrative expenses decreased by approximately RMB 9,948,000 or 42.1%, from about RMB 23,615,000 in 2023 to approximately RMB 13,667,000 in 2024[41] Future Outlook and Plans - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[2] - Future guidance indicates a cautious outlook, with expectations of continued challenges in revenue generation[2] - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming fiscal year[15] - The company plans to continue engaging in foreign trade to mitigate risks associated with market price fluctuations[33] Corporate Governance and Compliance - The company is registered as an exempted limited company in the Cayman Islands[4] - The ultimate holding company is XING MING LIMITED, with ownership of 80% and 20% by Mr. Xu and Ms. Huang respectively[5] - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards[6] - The financial statements are presented in Renminbi (RMB)[5] - The company has adhered to the corporate governance rules as stipulated in the listing rules up to December 31, 2024[72] - All directors confirmed compliance with the trading standards as of December 31, 2024[73] - The audit committee is responsible for reviewing and supervising the financial reporting process and internal control systems[75] - The auditors confirmed that the preliminary announcement aligns with the audited consolidated financial statements for the year ending December 31, 2024[76] Employee and Welfare Plans - The total employee cost for the group as of December 31, 2024, was approximately RMB 6,166,000, an increase from RMB 4,958,000 in 2023[59] - The group has established various welfare plans for employees in China, including basic medical insurance and unemployment insurance[60] Taxation - The group had no taxable profits in Hong Kong for the year ended December 31, 2024, and thus no provisions for Hong Kong profits tax were made[19] - The group’s standard corporate income tax rate in China remained at 25% for both 2024 and 2023[20] - The group recognized a deferred tax asset of RMB (1,412) million for the year ended December 31, 2024, compared to RMB (1,368) million in 2023[23] - The group’s unused tax losses can be carried forward indefinitely, with no foreseeable taxable income in the near future[19] Investments and Capital Expenditures - The company has no specific plans for significant investments or capital assets as of December 31, 2024[61] - The net proceeds from the share issuance amount to approximately RMB 20,803,000, with RMB 17,329,000 already utilized as of December 31, 2024[65] - The company plans to enhance the storage capacity of the Zengcheng oil depot by 11,038 cubic meters, with 7,564 cubic meters already completed[65] - Renovation of oil tanks, pipelines, and other facilities at the Zengcheng oil depot has been completed, with an investment of RMB 9,765,000[64] - The remaining unutilized proceeds are held in accounts at licensed banks in Hong Kong and China, expected to be fully utilized by December 31, 2025[65]

Revenue and Profitability - Revenue for the six months ended June 30, 2024, was RMB 577,041.8 thousand, a significant increase from RMB 749,480 thousand in the same period of 2023[2] - Gross profit decreased to RMB 11,365 thousand, down from RMB 37,691 thousand year-on-year, indicating a decline in profitability[2] - For the six months ended June 30, 2024, the revenue from finished oil sales was RMB 746,381,000, a significant increase of 125.0% compared to RMB 331,413,000 in the same period of 2023[29] - The total revenue for the six months ended June 30, 2024, was RMB 770,418,000, up 2.5% from RMB 749,480,000 in the previous year[29] - The gross profit decreased by approximately RMB 26,326,300 or 69.8% year-on-year, resulting in a gross margin of -1.7% for the six months ended June 30, 2024, compared to 2.7% for the same period in 2023[62] Loss and Earnings Per Share - Net loss for the period was RMB 747 thousand, a reduction from RMB 8,499 thousand in the same period last year, reflecting better financial management[2] - Basic and diluted loss per share improved to RMB 0.1 cents from RMB 0.9 cents year-on-year, indicating a positive trend in earnings per share[2] - For the six months ended June 30, 2024, the company reported a loss of RMB 747,000, compared to a loss of RMB 8,499,000 for the same period in 2023, indicating a significant improvement in performance[42] - The basic loss per share for the six months ended June 30, 2024, was RMB 0.1 cents, compared to RMB 0.9 cents for the same period in 2023[43] Operational Efficiency - Operating loss narrowed to RMB 574 thousand compared to a loss of RMB 6,174 thousand in the previous year, showing improved operational efficiency[2] - The company continues to focus on improving operational strategies and exploring market expansion opportunities[2] - Future outlook includes potential new product developments and technology advancements to enhance market competitiveness[2] Cash Flow and Liquidity - The net cash used in operating activities for the first half of 2024 was RMB (118,996,000), compared to RMB (2,413,000) in the same period of 2023, indicating a substantial increase in cash outflow[7] - The net cash generated from financing activities was RMB 14,444,000 for the first half of 2024, a recovery from a net cash outflow of RMB (379,000) in the same period of 2023[7] - The cash and cash equivalents at the end of June 30, 2024, were RMB 85,779,000, down from RMB 104,466,000 at the end of June 30, 2023, reflecting a decrease of 17.9%[7] Assets and Liabilities - Total assets increased to RMB 522,379 thousand as of June 30, 2024, compared to RMB 496,747 thousand at the end of 2023, showing growth in asset base[2] - Total liabilities rose to RMB 91,627 thousand from RMB 65,248 thousand, indicating increased financial obligations[2] - The company's trade receivables decreased to RMB 44,381,000 as of June 30, 2024, from RMB 49,574,000 as of December 31, 2023, reflecting a reduction of approximately 10.4%[47] - The total trade and other receivables increased to RMB 70,402,000 as of June 30, 2024, compared to RMB 64,706,000 as of December 31, 2023, representing an increase of approximately 8.6%[47] - Trade payables decreased to RMB 1,602,000 as of June 30, 2024, from RMB 4,610,000 as of December 31, 2023, indicating a decline of approximately 65.3%[50] Tax and Other Income - The company incurred a tax expense of RMB 577,000 for the first half of 2024, compared to RMB 4,749,000 in the same period of 2023, indicating a significant reduction in tax liabilities[35] - The company reported a net other income of RMB 60,000 for the first half of 2024, recovering from a net loss of RMB (12,263,000) in the same period of 2023[30] Market Focus and Strategy - The company continues to focus on the Chinese market for its operations, with all revenue generated from this region[29] - The company is exploring the trade of naphtha, a finished oil used as a raw material in the chemical industry, to meet potential market demand[58] Capital and Investments - The company has significant capital commitments of RMB 8,483,000 as of June 30, 2024, which are contracted but not yet recognized as liabilities[53] - The group had no significant investments or major acquisitions during the six months ended June 30, 2024[77] - The group has no plans for significant investments or capital assets in the upcoming year[83] Corporate Governance - The company has complied with all corporate governance codes and regulations as of June 30, 2024[96]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 之 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 會 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 JTF International Holdings Limited 金泰豐國際控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9689） 截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 中 期 業 績 金 泰 豐 國 際 控 股 有 限 公 司（「本 公 司」）董 事（「董 事」）會（「董 事 會」）宣 佈 本 公 司 及 其 附 屬 公 司（「本 集 團」）截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月 的 未 經 審 核 簡 明 綜 合 中 期 財 務 業 績 連 同 二 零 二 三 年 同 期 比 較 數 字 如 下： 未 經 審 核 簡 ...

Financial Performance - The company's revenue for the year ended December 31, 2023, was approximately RMB 1.24 billion, a decrease of about RMB 295 million or 19.2% compared to the previous year[10]. - Gross profit for the same period was approximately RMB 57.9 million, down about RMB 15 million or 20.6% year-on-year[10]. - The total revenue for the year ended December 31, 2023, was approximately RMB 1,239,515,000, a decrease from RMB 1,534,524,000 in 2022, representing a decline of about 19.2%[12]. - The total sales cost for 2023 was approximately RMB 1,181,619,000, down from RMB 1,461,613,000 in 2022, reflecting a decrease of about 19.2%[13]. - Gross profit for the year 2023 was RMB 57,896,000, compared to RMB 72,911,000 in 2022, resulting in a gross margin decrease from 4.8% to 4.7%[15]. - The company reported a net loss of approximately RMB 1,509,000 for the year ended December 31, 2023, compared to a profit of RMB 31,745,000 in 2022[22]. - Adjusted profit for the year 2023 was RMB 20,333,000, down from RMB 35,029,000 in 2022, indicating a decline in operational performance[23]. Sales and Market Dynamics - The sales volume for the year was approximately 364,000 tons, with the product breakdown being 37.0% naphtha, 27.8% other chemical products, 23.6% gasoline, 11.3% fuel oil, and 0.3% diesel[6]. - The company adjusted and optimized its sales product structure in response to market changes, focusing on expanding sales channels for naphtha and industrial raw materials[6]. - The domestic refined oil and other chemical product demand market is expected to grow in 2024, despite ongoing competition in the refined oil industry[7]. - The average price of finished oil decreased from RMB 7,803 per ton in 2022 to RMB 6,847 per ton in 2023, reflecting market price fluctuations[12]. - The company’s total sales volume for finished oil in 2023 was 130,591 tons, compared to 75,726 tons in 2022, indicating an increase in sales volume despite revenue decline[12]. Operational Expenses - Distribution expenses increased by approximately RMB 1,931,000 or 13.5% to RMB 16,200,000 in 2023, primarily due to increased short-term operating lease costs for oil storage facilities[17]. - Administrative expenses rose by approximately RMB 9,993,000 or 73.4% to RMB 23,615,000 in 2023, mainly due to increased professional and other fees related to the application for transfer from GEM to the main board[18]. - Other net losses turned from a gain of RMB 3,095,000 in 2022 to a loss of RMB 13,243,000 in 2023, primarily due to litigation losses of RMB 13,267,000[16]. Cash Flow and Financial Position - For the year ended December 31, 2023, the net cash generated from operating activities was approximately RMB 82,541,000, a decrease from RMB 98,086,000 in 2022[24]. - The net cash generated from investing activities for the year was approximately RMB 929,000, primarily due to interest income from bank deposits[24]. - The net cash used in financing activities was approximately RMB 360,000, mainly due to lease payments[25]. - As of December 31, 2023, the group's cash and cash equivalents amounted to approximately RMB 189,706,000, compared to RMB 106,445,000 as of December 31, 2022[25]. - The net current assets as of December 31, 2023, were approximately RMB 431,072,000, an increase of approximately RMB 14,448,000 from RMB 416,624,000 in 2022[26]. - The group had no borrowings as of December 31, 2023, maintaining a cash surplus[27]. Corporate Governance - The company has complied with the GEM Listing Rules and the Corporate Governance Code during the financial year ending December 31, 2023[55]. - The board consists of seven members, including four executive directors and three independent non-executive directors[59]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined responsibilities[64]. - The chairman and CEO roles are clearly separated to ensure effective governance[60]. - The company has a robust internal control system to manage risks and ensure accountability[55]. - The board is responsible for setting strategic goals and overseeing the company's development[57]. Risk Management - The company has established a risk management and internal control system to ensure effective governance and compliance with relevant laws and regulations[84]. - The board is responsible for overall risk management, with management authorized to identify and monitor risks[86]. - The company has identified market risk, foreign exchange risk, liquidity risk, and operational risk as key risks[88][89][90]. - The company maintains sufficient cash and cash equivalents to manage liquidity risk effectively[89]. Environmental and Social Responsibility - The company is developing a green low-carbon strategy aligned with China's carbon neutrality goals, prioritizing suppliers with a low carbon footprint[106]. - The company is enhancing its sustainable development performance by monitoring global and Chinese environmental policies and regulatory trends[107]. - The company has not faced any significant fines or non-monetary sanctions for environmental law violations during the reporting period[120]. - The company prioritizes energy-efficient equipment and facilities to improve energy performance and reduce its carbon footprint[120]. - The company has implemented measures to mitigate acute and chronic physical risks associated with climate change, including monitoring weather-related impacts on storage environments[145]. Employee Management - The total number of employees as of December 31, 2023, is 23, with a decrease of 28.57% from 32 employees in 2022[151]. - The overall employee turnover rate for 2023 is approximately 32.73%, an increase from 31.25% in 2022[160]. - The company emphasizes the importance of employee welfare and mental health, implementing various measures to reduce turnover[160]. - The overall percentage of trained employees remained at 100% from 2022 to 2023[166]. - The average training hours per employee increased from 10.00 hours in 2022 to 13.91 hours in 2023, a rise of 39.10%[167]. Community Engagement - The company is committed to investing resources to support local communities, especially in health and safety due to COVID-19[181]. - The company has established policies to prevent child labor and forced labor, ensuring compliance with relevant laws[187]. - The company is committed to community engagement and considers community interests in its business activities[188].

Financial Performance - For the fiscal year ending December 31, 2023, the company's revenue was approximately RMB 1,239.5 million, a decrease of 19.2% compared to RMB 1,534.5 million for the fiscal year ending December 31, 2022[5]. - The gross profit for the fiscal year ending December 31, 2023, was approximately RMB 57.9 million, down 20.6% from RMB 72.9 million for the fiscal year ending December 31, 2022[5]. - The net loss for the fiscal year ending December 31, 2023, was approximately RMB 1.5 million, a significant improvement from a loss of RMB 31.7 million for the fiscal year ending December 31, 2022[5]. - The adjusted net profit for the fiscal year ending December 31, 2023, was approximately RMB 20.3 million, a decrease of 42.0% compared to RMB 35.0 million for the fiscal year ending December 31, 2022[5]. - The company’s operating profit for the fiscal year ending December 31, 2023, was RMB 4.8 million, a decrease from RMB 48.1 million for the fiscal year ending December 31, 2022[14]. - The company reported a net loss of approximately RMB 13,243,000 for the year ended December 31, 2023, compared to a net income of RMB 3,095,000 in 2022, primarily due to litigation losses[76]. - The adjusted profit for the year ended December 31, 2023, was approximately RMB 20,333,000, down from RMB 35,029,000 for the year ended December 31, 2022[87]. Assets and Liabilities - The total assets as of December 31, 2023, were approximately RMB 496.7 million, an increase of 3.1% from RMB 491.2 million as of December 31, 2022[16]. - Total equity increased to 431,499 from 418,384, representing a growth of approximately 2.67%[19]. - Total liabilities decreased to 65,248 from 72,818, indicating a reduction of about 10.43%[20]. - Total assets rose to 496,747 from 491,202, reflecting an increase of approximately 1.12%[21]. - As of December 31, 2023, the net current assets were approximately RMB 431,072,000, an increase of approximately RMB 14,448,000 from RMB 416,624,000 as of December 31, 2022[91]. - As of December 31, 2023, the group had no borrowings, maintaining a cash surplus[92]. Revenue Sources - The service revenue for the fiscal year ending December 31, 2023, was RMB 46.2 million, compared to RMB 12.6 million for the fiscal year ending December 31, 2022[5]. - The company reported a significant increase in sales of finished oil products, amounting to RMB 894.1 million for the fiscal year ending December 31, 2023, compared to RMB 590.9 million for the fiscal year ending December 31, 2022[5]. - Revenue from external customer transactions accounted for approximately 10% of total revenue, with Customer A contributing RMB 610,360,000[35]. - The total sales volume of refined oil products for the year ended December 31, 2023, was 130,591 tons, compared to 75,726 tons in 2022, representing an increase of approximately 72.5%[67]. Expenses and Costs - Total expenses for the year ending December 31, 2023, amounted to RMB 1,221,434,000, a decrease from RMB 1,489,504,000 in the previous year[37]. - The total cost of purchased fuel, oil, and other petrochemical products was RMB 1,099,607,000, a decrease from RMB 1,539,919,000 in the previous year[37]. - Administrative expenses increased by approximately RMB 9,993,000 or 73.4% to about RMB 23,615,000 for the year ended December 31, 2023, mainly due to professional fees related to the transfer to the main board listing[78]. - Distribution expenses rose by approximately RMB 1,931,000 or 13.5% to about RMB 16,200,000 for the year ended December 31, 2023, attributed to increased short-term operating lease costs for oil storage facilities[77]. Taxation and Financial Income - The company incurred a tax expense of RMB 7,326,000 for the year ending December 31, 2023, down from RMB 14,145,000 in the previous year[51]. - The effective corporate income tax rate for the company in mainland China remains at 25%[48]. - Financial income for the year was RMB 1,080,000, a decrease from RMB 1,187,000 in the previous year[40]. - The income tax expense decreased from approximately RMB 17,350,000 for the year ended December 31, 2022, to approximately RMB 7,243,000 for the year ended December 31, 2023, mainly due to a reduction in taxable profits from operations in China[82]. Market Conditions and Operations - The company experienced a cautious market atmosphere due to oil price fluctuations and slower-than-expected economic recovery post-COVID-19[64]. - The company operates mainly in the sale of refined oil and other petrochemical products in China, with all revenue sourced from this market[32]. - The average price of refined oil products sold in 2023 was RMB 6,847 per ton, down from RMB 7,803 per ton in 2022, reflecting a decrease of about 12.2%[67]. Corporate Governance and Compliance - The company has complied with the GEM Listing Rules and the Corporate Governance Code during the year ending December 31, 2023[126]. - The audit committee has reviewed the accounting principles and internal controls for the financial reporting matters, including the consolidated financial statements for the year ending December 31, 2023[128]. - The annual report for the year ending December 31, 2023, will be sent to shareholders and published on the stock exchange and the company's website[129]. Employee and Welfare - The total employee cost for the group was approximately RMB 4,958,000, down from RMB 5,825,000 in 2022, indicating a decrease of about 14.9%[101]. - The group currently employs 23 full-time employees in China as of December 31, 2023[101]. - The group has established various welfare plans for its employees in accordance with local laws and regulations, including basic medical insurance and unemployment insurance[103].

Financial Performance - The company reported a net loss before tax of RMB 5,459,000 for the six months ended June 30, 2023, compared to a profit of RMB 4,655,000 in the same period last year[14]. - Total revenue for the six months was RMB 37,691,000, an increase of 112.5% compared to RMB 17,730,000 in the previous year[23]. - For the six months ended June 30, 2023, the company reported a net loss of RMB 8,499,000, compared to a profit of RMB 2,489,000 for the same period in 2022[170]. - Basic loss per share for the period was RMB 0.3 cents, while the previous year reported a profit of RMB 0.3 cents per share[176]. - The total revenue for the six months ended June 30, 2023, was approximately RMB 749,480,000, representing an increase of 87.3% compared to the same period in 2022[195]. Cash Flow and Liquidity - The company’s cash and cash equivalents at the end of the period were RMB 104,466,000, a decrease from RMB 106,637,000 at the beginning of the period[58]. - Operating cash flow for the period was RMB 98,627,000, compared to a cash outflow of RMB 10,620,000 in the same period last year[55]. - Cash flow from operating activities for the same period was RMB 103,289,000[73]. - The company’s cash and cash equivalents showed a foreign exchange gain of RMB 160,000 for the six months ended June 30, 2023[120]. Expenses and Costs - The company incurred distribution expenses of RMB 17,097,000, up from RMB 7,431,000 in the previous year, reflecting a significant increase in operational costs[6]. - The total sales cost, distribution expenses, and administrative expenses amounted to RMB 743,391,000, an increase from RMB 395,779,000 in the previous year[116]. - The company reported a significant increase in the cost of purchased finished oil, fuel oil, and other petrochemical products, rising to RMB 795,410,000 from RMB 443,225,000[116]. - The cost of sales for the six months ended June 30, 2023, was approximately RMB 711,789,000, compared to RMB 382,396,000 for the same period in 2022[199]. Assets and Receivables - The company’s total assets amounted to RMB 418,384,000 as of June 30, 2023, compared to RMB 449,804,000 at the end of the previous year[30]. - The company reported a significant increase in trade and other receivables, totaling RMB 72,424,000, indicating potential growth in sales[19]. - Trade receivables as of June 30, 2023, amounted to RMB 39,319,000, an increase from RMB 34,306,000 as of December 31, 2022[147]. - The net amount of trade receivables after impairment was RMB 37,876,000, compared to RMB 32,863,000 in the previous period[147]. - The company reported a significant increase in recoverable VAT, rising to RMB 26,966,000 from RMB 14,740,000 in the previous period[147]. Market and Operational Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[52]. - The company experienced a cautious market atmosphere due to oil price fluctuations and geopolitical tensions, impacting trading activities[193]. - The company is committed to maintaining compliance with regulatory requirements and enhancing operational safety measures in its operations[52]. Sales and Revenue Breakdown - Service revenue for the six months ended June 30, 2023, was RMB 400,126,000[68]. - The company reported a decrease in finished oil sales from RMB 365,995,000 in 2022 to RMB 331,413,000 in 2023[90]. - The total sales for finished oil products amounted to RMB 331,413,000, while other petrochemical products totaled RMB 400,470,000 for the six months ended June 30, 2023[196]. - The average selling price for finished oil products decreased from RMB 7,925 to RMB 6,628, while other petrochemical products saw a drop from RMB 6,858 to RMB 6,569[196]. - The gross profit margin for port trade decreased from approximately 4.2% for the six months ended June 30, 2022, to about 2.7% for the same period in 2023 due to price negotiations becoming more cautious[194]. Legal and Compliance - The group faced a loss of RMB 12,263,000 related to litigation provisions for the six months ended June 30, 2023[93]. - The company recognized a loss provision of approximately RMB 12,263,000 related to a lawsuit against its subsidiary in China as of June 30, 2023[179]. - The group has not recognized any deferred tax liabilities due to the lack of taxable profits in Hong Kong[102]. Shareholder Information - The company did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[144]. - The company’s total issued and paid-up ordinary shares remained at 930,000,000 as of June 30, 2023[181]. - The estimated applicable tax rate for the company's operations in mainland China remained at 25% for both 2023 and 2022[125].

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分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 JTF International Holdings Limited 金 泰 豐 國 際 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：9689） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 中期業績 金泰豐國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈 本公司及其附屬公司（「本集團」）截至二零二三年六月三十日止六個月的 未經審核簡明綜合中期財務業績連同二零二二年同期比較數字如下： 未經審核簡明綜合全面收益表 截至六月三十日止六個月 二零二三年 二零二二年 附註 人民幣千元 人民幣千元 （未經審核） （未經審核） 收益 5 749,480 400,126 銷售成本 7 (711,789) (382,396) 毛利 37,691 17,730 其他虧損淨額 6 (12,263) (220) 分銷開支 7 (17 ...