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，並明確表示概不就因本公告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。 （於開曼群島註冊成立的有限公司） （股份代號：658） 盈利預告－虧損減少 本公告由中國高速傳動設備集團有限公司（「本公司」，連同其附屬公司稱為「本集 團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)條及香 港法例第571章證券及期貨條例（「證券及期貨條例」）第XIVA部的內幕消息條文 （定義見上市規則）作出。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東（「股東」）及有意投資 者，基於就本集團截至二零二五年六月三十日止六個月（「本期間」）的管理賬目所 作的初步審閱，相比去年同期的本公司擁有人應佔虧損約人民幣528.7百萬元，預 計將錄得本公司擁有人應佔虧損約為人民幣136百萬元。有關虧損的預期減少的 主要原因是(i)由於本期間貿易業務暫停，本期間並無就貿易業務計提減值撥備， 而去年同期則就貿易業務的應收款項計提重大減值撥備（有關減值虧損撥備的詳 情，請參閱本公司 ...

格隆汇8月19日丨中国高速传动(00658.HK)公布，公司将于2025年8月29日召开董事会会议，以（其中包 括）审议及通过集团截至2025年6月30日止六个月的中期业绩及其发布，以及宣派中期股息（如有）。 ...

香港交易及結算所有限公司以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，並明確表示概不會就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。 承董事會命 中國高速傳動設備集團有限公司 主席 胡吉春 香港，二零二五年八月十九日 於本公告日期，執行董事為胡吉春先生、胡曰明先生、陳永道先生、 周志瑾先生、鄭青女士及顧曉斌先生；非執行董事為葉興明先生；及獨立非執行 董事為江希和先生、蔣建華女士、陳友正博士及Nathan Yu Li先生。 （於開曼群島註冊成立的有限公司） （股份代號：658） 董事會會議通告 茲通告中國高速傳動設備集團有限公司（「本公司」）之董事（「董事」）會（「董事 會」）謹定於二零二五年八月二十九日（星期五）舉行董事會會議，藉以處理（其中 包括）下列事項： 1. 考慮及批准本公司及其子公司（「本集團」）截至二零二五年六月三十日止六個 月未經審計中期業績； 2. 考慮及批准依照香港聯合交易所有限公司證券上市規則須予刊登之本集團截 至二零二五年六月三十日止六個月未經審計中期業績公告草稿；及 3. 商討派付截至二零二五年六月三十日止六個 ...

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，並明確表示概不會就本公告全部或任何部份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。 茲提述中國高速傳動設備集團有限公司（「本公司」）日期為二零二五年五月二十 六日的公告，內容有關翰達貸款及債權轉讓（「五月二十六日公告」）。除另有說明 外，本公告所用之詞彙與五月二十六日公告所界定者具有相同涵義。 本公告之目的乃為符合上市規則而就翰達貸款及債權轉讓，以及本公司為防止類 似事件再次發生而採取的補救措施提供補充資料。 有關翰達貸款及債權轉讓的進一步資料 按本公司目前可得的記錄，有關翰達貸款及債權轉讓的事件時序表載列如下。 | 日期 | 事件 | | --- | --- | | 二零二四年三月十八日 | 南京翰達簽署翰達貸款的交易文件（包括借款協議 | | | 及Charge Over Bank Account）。 | | 二零二四年三月十九日 | 南京翰達以同日銀行票據的方式向共同借款人之 | | | 一南京豐盛康居支付本金。 | | 二零二四年六月二十八日 | 南京翰達簽署債權轉讓協議並向共同 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國高速傳動設備集團有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00658 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,000,000,000 | USD | | 0.01 | USD | | 30,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 3,000,000,000 | USD | | 0.01 | USD | | 30,000,000 | FF ...

Core Viewpoint - The ongoing dispute between China High-Speed Transmission (00658.HK) and its major shareholder, Fengsheng Holdings (00607.HK), has taken a dramatic turn with the postponement of a special shareholders' meeting originally scheduled for April 24, 2023, now delayed until June 30, 2028, raising concerns about governance and shareholder rights [1][6][8]. Group 1: Background of the Dispute - Fengsheng Holdings acquired over 70% of China High-Speed Transmission's shares in 2016 at a premium of 46.6% to the market price, leading to a power struggle between the two parties [3]. - The conflict escalated in March 2023 when Fengsheng Holdings proposed to remove the current chairman and his father from their positions [3][4]. - The core asset in question is Nanjing High-Speed Gear Manufacturing Co., which has undergone changes in its governance structure that may affect Fengsheng Holdings' control [4][5]. Group 2: Reasons for Postponement - The board of China High-Speed Transmission cited several reasons for the postponement of the special shareholders' meeting, including opposition from other shareholders, a petition from 6,857 employees, and concerns from suppliers and customers [5][7]. - The board also indicated that ongoing legal actions and an independent investigation into 6.64 billion RMB in overdue receivables necessitated additional time before proceeding with the meeting [6][7]. Group 3: Legal and Regulatory Considerations - The postponement of the special shareholders' meeting until 2028 is unprecedented and raises questions about compliance with Hong Kong company law and regulations [2][9]. - Legal experts have noted that if the board's decision to delay is perceived as an attempt to maintain control, it could lead to claims of unfair prejudice against shareholders [9]. - The Hong Kong Stock Exchange and the Securities and Futures Commission have not yet responded to inquiries regarding the regulatory stance on this matter [9].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported customer contract revenue of RMB 22,075,470,000, a decrease of 8.3% compared to RMB 24,077,148,000 in 2023[5] - The company recorded a loss attributable to owners of RMB 6,556,733,000 for 2024, compared to a profit of RMB 95,517,000 in 2023[5] - Total assets decreased by 9.6% to RMB 37,709,287,000 in 2024 from RMB 41,700,395,000 in 2023[5] - Total liabilities also decreased by 9.5% to RMB 25,150,002,000 in 2024 from RMB 27,788,171,000 in 2023[5] - The net asset value per share fell by 9.4% to RMB 7.7 in 2024 from RMB 8.5 in 2023[5] - The group recorded sales revenue of approximately RMB 22,075,470,000, a decrease of 8.3% compared to RMB 24,077,148,000 in the previous year[16] - The group reported a loss attributable to shareholders of approximately RMB 6,556,733,000, compared to a profit of RMB 95,517,000 in the previous year[16] - The group's total sales revenue decreased by 8.3% to approximately RMB 22,075,470 million in 2024, primarily due to a reduction in trading business[29] - The group's overall gross profit margin improved to approximately 14.9%, up 0.8 percentage points from the previous year, despite a 3.1% decline in gross profit to RMB 3,288,147 million[30] Revenue Breakdown - The sales revenue from wind power gear transmission equipment increased by 0.7% to approximately RMB 14,992,739,000, compared to RMB 14,890,141,000 in the previous year[18] - Revenue from wind power gear transmission equipment increased by 0.7% to RMB 14,992,739 million, while industrial gear transmission equipment revenue rose by 21.0% to RMB 2,273,442 million[29] - The industrial gear transmission equipment business generated sales revenue of approximately RMB 2,273,442,000, representing a 21.0% increase from RMB 1,879,228,000 in the previous year[19] - The rail transit gear transmission equipment business achieved sales revenue of approximately RMB 338,597,000, up 25.3% from RMB 270,152,000 in the previous year[20] Market and Strategic Initiatives - The company aims to leverage opportunities in the wind energy sector, with China's wind power installed capacity expected to grow by 6% in 2024, reaching 79.82 million kW[9] - The company plans to establish operation and maintenance centers in the Americas, Europe, and Asia-Pacific to accelerate its globalization strategy[10] - The company is committed to sustainable development and aims to integrate this philosophy into its core management strategies to contribute to carbon neutrality goals[14] - The company is focused on compliance, transparency, and effective communication with auditors to resolve issues[68] - The company aims to enhance product competitiveness through sustainable development and continuous innovation in clean energy and efficient fields[27] Research and Development - The company holds a total of 996 authorized national patents and has 365 patents pending approval[23] - Research and development costs for the year amounted to RMB 809,474,000, a decrease of 10.5% compared to RMB 904,473,000 in the previous year, representing 3.7% of sales revenue[35] - The group launched new products including a 20MW offshore floating wind turbine gearbox and a (6-20)MW fully integrated transmission gearbox, enhancing its innovation capabilities[10] Corporate Governance and Management - The company has a strong management team with over 40 years of experience in mechanical and industrial enterprise management[71] - The board consists of 11 members, including 7 executive directors and 4 independent non-executive directors, with a total of 4 board meetings held during the year[153] - The independent non-executive directors confirm their independence according to the relevant guidelines, ensuring compliance with listing rules[155] - The company has established a board diversity policy, focusing on various criteria such as educational background, professional experience, and skills[166] Audit and Compliance Issues - The company is currently under criminal investigation regarding the inability to recover trade receivables and prepayments, as well as the lack of sufficient audit evidence for related party transactions[63] - The management is taking reasonable actions to investigate costs and reconcile accounts related to EPC projects, which have been complicated by incomplete information from previous management[64] - The company has suspended all bulk commodity trading operations pending the outcome of the ongoing investigations[63] - The company is committed to resolving audit issues and plans to address identified audit problems by December 31, 2025[68] Employee and Social Responsibility - The company maintained a lower employee turnover rate than the manufacturing industry average, reflecting a higher sense of belonging among employees[95] - The group’s employee cost for the year was approximately RMB 2,096,969,000, an increase from RMB 1,984,982,000 in the previous year, reflecting a growth of about 5.6%[120] - The company has established environmental responsibilities at all levels and developed an emergency response plan for environmental incidents, conducting regular drills[93] - The company has made donations amounting to approximately RMB 5,196,000 during the year, a significant increase from RMB 217,000 in the previous year[111] Financial Position and Liabilities - Cash and bank balances totaled approximately RMB 6,684,984,000, a decrease of 27.3% from RMB 9,190,289,000 at the beginning of the year[40] - The total amount of borrowings as of December 31, 2024, was approximately RMB 9,166,345,000, a decrease of 3.5% from RMB 9,494,585,000 at the beginning of the year[41] - The asset-liability ratio increased slightly from 66.6% on December 31, 2023, to 66.7% on December 31, 2024[42] Legal and Regulatory Matters - The company is currently undergoing an independent investigation related to a trade business customer, which may affect future disclosures[114] - There were no significant litigations or arbitration matters during the year, although a legal suit was filed post-year-end regarding alleged misappropriation of funds by a subsidiary[138] - The company has implemented a suitable liability insurance for each director to cover their responsibilities[140]

Financial Performance - Customer contract revenue for the year ended December 31, 2024, was RMB 22,075,470, a decrease of 8.3% from RMB 24,077,148 in 2023[3] - Gross profit for the same period was RMB 3,288,147, down 3.1% from RMB 3,394,785 in the previous year[3] - The company reported a loss attributable to owners of RMB (6,556,733) for 2024, compared to a profit of RMB 95,517 in 2023, indicating a significant decline[3] - Total revenue for the year ended December 31, 2024, was RMB 22,075,470,000, with external customer revenue from the wind and industrial gear transmission segment at RMB 17,266,181,000, representing approximately 78.2% of total revenue[21] - The company reported a loss before tax of RMB 5,753,245,000 for the year ended December 31, 2024, compared to a profit of RMB 727,709,000 in 2023, indicating a significant decline in performance[31] - The net loss attributable to the company's owners for the year ended December 31, 2024, was RMB 6,556,733,000, compared to a profit of RMB 95,517,000 in 2023, resulting in a basic loss per share of RMB 4.010[36] - The gross profit margin improved to approximately 14.9%, compared to 14.1% in the previous year[56] - The company recognized impairment losses totaling RMB 6,681 million due to significant provisions for trade receivables and prepayments[56] Assets and Liabilities - Total assets decreased by 9.6% to RMB 37,709,287 in 2024 from RMB 41,700,395 in 2023[3] - Total liabilities also fell by 9.5% to RMB 25,150,002 in 2024, down from RMB 27,788,171 in the previous year[3] - Net assets decreased by 9.7% to RMB 12,559,285 in 2024, compared to RMB 13,912,224 in 2023[3] - The asset-liability ratio slightly increased to 66.7% in 2024 from 66.6% in 2023, indicating stable leverage levels[3] - The company's total receivables decreased to RMB 7,600,067,000 in 2024 from RMB 9,925,957,000 in 2023, reflecting a reduction in outstanding receivables[38] - The aging analysis of receivables shows that amounts less than 90 days decreased to RMB 4,559,303,000 in 2024 from RMB 6,858,350,000 in 2023, indicating improved collection efforts[42] - The company's total borrowings decreased to RMB 9,166,345,000 in 2024 from RMB 9,494,585,000 in 2023, reflecting a reduction of about 3%[47] - The company's fixed-rate borrowings decreased to RMB 3,868,753,000 in 2024 from RMB 4,432,000,000 in 2023, indicating a decline of approximately 13%[47] Revenue Breakdown - Revenue from external customers in China was RMB 19,954,969, down from RMB 21,828,992 in 2023, representing a decline of 8.6%[24] - Sales revenue from wind power gear transmission equipment increased by 0.7% to approximately RMB 14,992,739,000[59] - Sales revenue from industrial gear transmission equipment rose by 21.0% to approximately RMB 2,273,442,000[60] - Sales revenue from rail transit gear transmission equipment increased by 25.3% to approximately RMB 338,597,000[61] - Overseas sales amounted to approximately RMB 2,120,501,000, a decrease of 5.7% from the previous year, but the overseas sales accounted for 9.6% of total sales, up 0.3 percentage points[62] Research and Development - Research and development costs for the year were RMB 809,474, down from RMB 904,473 in the previous year, reflecting a focus on cost management[6] - Research and development costs decreased by 10.5% to RMB 809,474,000, representing 3.7% of total sales revenue[70] - The company plans to increase R&D investment to strengthen its technological capabilities and improve service layout[83] Operational Challenges - The company experienced a net operating loss of RMB (5,141,118) in 2024, compared to an operating profit of RMB 1,370,821 in 2023[6] - Inventory write-downs amounted to RMB 77,371,000 across segments, indicating potential challenges in inventory management[21] - The company has identified four reportable segments, including wind and industrial gear transmission, rail transportation gear transmission, trading business, and others[20] Corporate Governance and Compliance - The company has adhered to the corporate governance code but deviated from the requirement that the roles of chairman and CEO should be separate, with Mr. Hu Jichun serving both roles[107] - The board believes that having Mr. Hu serve as both chairman and CEO is beneficial for business development and management efficiency[107] - The independent auditor's report indicates that the financial statements fairly reflect the group's financial position as of December 31, 2024, except for the matters described in the "Basis for Qualified Opinion" section[94] Future Outlook and Strategic Initiatives - The company aims to enhance its product competitiveness through sustainable development and continuous innovation in clean energy and efficient fields[83] - The company is actively managing foreign exchange risks and has not used any foreign exchange derivatives to hedge against these risks[87] - The company is currently evaluating the expected impact of the new accounting standards that will be applied for the first time[16]

Financial Performance - For the six months ended June 30, 2024, the company reported customer contract revenue of RMB 10,159,694,000, a decrease of 9.8% compared to RMB 11,257,595,000 for the same period in 2023[5]. - Gross profit for the same period was RMB 1,354,468,000, reflecting a decline of 22.7% from RMB 1,752,834,000 in the previous year[5]. - The company recorded a loss attributable to owners of RMB 528,733,000, compared to a profit of RMB 209,167,000 in the prior year, resulting in a basic loss per share of RMB 0.323[6]. - The company's total revenue decreased by 9.8% to approximately RMB 10,159,694,000, primarily due to a decline in sales of wind power gear transmission equipment[20]. - The overall gross profit margin for the period was approximately 13.3%, a decrease of 2.3 percentage points from 15.6% in the previous year[22]. - The company reported a total comprehensive loss for the period of RMB 480,333,000, compared to a total comprehensive loss of RMB 660,791,000 for the same period in 2023, reflecting an improvement of approximately 27.3%[66]. - The company reported a net loss attributable to shareholders of RMB 528,733,000 for the six months ended June 30, 2024, compared to a profit of RMB 209,167,000 for the same period in 2023, representing a significant decline[99]. Assets and Liabilities - Total assets increased by 5.8% to RMB 44,108,949,000 as of June 30, 2024, compared to RMB 41,700,395,000 at the end of 2023[5]. - Total liabilities rose by 10.4% to RMB 30,677,058,000, up from RMB 27,788,171,000[5]. - The asset-liability ratio increased to 69.5% from 66.6% in the previous period, reflecting a rise of 2.9 percentage points[5]. - Total borrowings increased by approximately RMB 1,900,389,000 or 20.0% to RMB 11,394,974,000 from RMB 9,494,585,000 at the beginning of the year[31]. - The total liabilities of the company were RMB 30,677,058,000, with segment liabilities for wind power and industrial gear transmission at RMB 12,844,805[85]. Revenue Segments - The company's wind power gear transmission equipment sales revenue decreased by 22.5% to approximately RMB 5,489,427,000, down from RMB 7,082,478,000 in the same period last year[8]. - The industrial gear transmission equipment segment generated sales revenue of approximately RMB 1,158,771,000, representing an increase of 11.8% compared to RMB 1,036,920,000 in the same period last year[9]. - The rail transit gear transmission equipment segment achieved sales revenue of approximately RMB 135,792,000, up 14.9% from RMB 118,180,000 year-on-year[10]. - The trading business generated sales revenue of approximately RMB 3,373,243,000, reflecting a 12.2% increase from RMB 3,006,818,000 in the previous year[11]. - Revenue from external customers in China was RMB 9,173,733,000, down 9.3% from RMB 10,121,714,000 year-over-year[90]. Research and Development - The company is focusing on innovation and R&D to enhance competitiveness in the wind power gear transmission equipment sector[7]. - The company holds a total of 937 authorized national patents, with an additional 378 patents pending approval[13]. - The company emphasizes green development strategies in its industrial gear transmission equipment, focusing on energy efficiency and low carbon emissions[9]. Expenses and Costs - Sales and distribution expenses for the period were approximately RMB 224,312,000, a decrease of 4.7% compared to RMB 235,463,000 in the same period last year[25]. - Administrative expenses increased by 0.9% to approximately RMB 287,906,000 from RMB 285,434,000, accounting for 2.8% of sales revenue, up 0.3 percentage points year-on-year[26]. - Research and development costs decreased by 10.7% to approximately RMB 410,115,000 from RMB 459,359,000, representing 4.0% of sales revenue, a decrease of 0.1 percentage points year-on-year[27]. - The cost of goods sold was RMB 8,006,992,000, a decrease from RMB 8,838,300,000 in the same period last year[93]. Cash Flow and Financial Position - The net cash used in operating activities for the six months ended June 30, 2024, was RMB 1,101,941,000, compared to RMB 427,661,000 for the same period in 2023, indicating a significant increase in cash outflow[67]. - The total cash and cash equivalents decreased to RMB 5,148,591,000 as of June 30, 2024, down from RMB 5,627,891,000 at the end of 2023, a decline of approximately 8.5%[116]. - The company recognized government subsidies totaling RMB 90,319,000, an increase from RMB 39,763,000 in the previous year[91]. Governance and Compliance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules[45]. - The audit committee, consisting of three independent non-executive directors, reviewed the interim report and financial statements for the six months ended June 30, 2024[50]. - The independent auditor's report was issued by Tianzhi Hong Kong CPA Limited, confirming the accuracy of the financial statements[59]. Future Outlook - The company will continue to focus on green development and technological innovation to lead the economic green low-carbon transformation[17]. - The company is applying for renewal of its high-tech enterprise status to maintain a preferential tax rate, expected to be successful by the end of 2024[96].

Financial Performance - Customer contract revenue decreased by 9.8% to RMB 10,159,694, compared to RMB 11,257,595 in the same period last year[1] - Gross profit declined by 22.7% to RMB 1,354,468, down from RMB 1,752,834 year-on-year[1] - The company reported a loss attributable to owners of RMB (528,733), compared to a profit of RMB 209,167 in the previous year[1] - The total comprehensive loss for the period amounted to RMB (480,333), contrasting with a comprehensive income of RMB 242,596 in the same period last year[3] - The company experienced a significant operating loss of RMB (192,051) compared to an operating profit of RMB 885,134 in the previous year[2] - The gross profit for the six months ended June 30, 2024, was RMB 9,727,559 thousand, down from RMB 10,485,017 thousand in the same period of 2023, indicating a decline of approximately 7.2%[17] - The company recorded a loss attributable to shareholders of approximately RMB 528,733,000, compared to a profit of RMB 209,167,000 in the previous year[34] - The overall gross profit margin decreased to approximately 13.3%, down 2.3 percentage points from the previous year, with gross profit declining by 22.7% to RMB 1,354,468,000[45] Assets and Liabilities - Total assets increased by 5.8% to RMB 44,108,949, up from RMB 41,700,395 as of December 31, 2023[1] - Total liabilities rose by 10.4% to RMB 30,677,058, compared to RMB 27,788,171 at the end of the previous year[1] - Net assets decreased by 3.5% to RMB 13,431,891, down from RMB 13,912,224[1] - The debt-to-asset ratio increased by 2.9 percentage points to 69.5% from 66.6%[1] - Total liabilities increased to RMB 27,788,171 thousand as of December 31, 2023, from RMB 14,693,334 thousand in the previous period[14] - The company's debt increased by approximately RMB 1,900,389,000 or 20.0%, totaling RMB 11,394,974,000, with 59.8% of this amount due within one year[54] - The asset-liability ratio rose from 66.6% to 69.5% during the reporting period[55] Revenue Segments - For the six months ended June 30, 2024, total external customer revenue reached RMB 10,159,694, with the wind power and industrial gear transmission segment contributing RMB 6,648,198[11] - Sales revenue from wind power gear transmission equipment decreased by 22.5% to approximately RMB 5,489,427,000, down from RMB 7,082,478,000 in the same period last year[36] - Sales revenue from industrial gear transmission equipment increased by 11.8% to approximately RMB 1,158,771,000, compared to RMB 1,036,920,000 in the previous year[37] - The trade business generated sales revenue of approximately RMB 3,373,243,000, up 12.2% from RMB 3,006,818,000 year-on-year[39] - Overseas sales amounted to approximately RMB 985,961,000, a decrease of 13.2% from RMB 1,135,881,000 in the previous year, accounting for 9.7% of total sales[40] Operational Insights - The company has identified four reportable segments, including wind power, rail transportation, trading, and others, to better allocate resources and assess performance[10] - The company is focusing on innovation and R&D to maintain competitiveness in the wind power gear transmission equipment sector[35] - The company is enhancing its product offerings by integrating digital technologies and building a health monitoring IoT platform for gearboxes[35] - The company is actively managing credit risk, with a credit control department monitoring overdue receivables, which totaled RMB 1,465,418,000 as of June 30, 2024[26] - The company is in the process of renewing its high-tech enterprise qualification for one of its subsidiaries, which is expected to be successful by the end of 2024, allowing continued access to the preferential tax rate[19] Taxation and Financial Management - The company has received approval for a preferential tax rate of 15% for certain subsidiaries, effective for three years, which may positively impact future profitability[19] - The estimated taxable profits in Hong Kong for the six months ended June 30, 2024, were subject to a two-tiered profits tax rate, with the first HKD 2 million taxed at 8.25% and profits exceeding that amount taxed at 16.5%[20] - The group is closely monitoring changes in credit policies and will enhance capital management to reduce financial costs due to potential interest rate fluctuations[61] Employee and Operational Costs - Employee costs for the review period amounted to approximately RMB 918,920,000, an increase from RMB 891,332,000 in the previous year, with the number of employees rising to 7,897 from 7,761[62] - Research and development costs decreased by 10.7% to approximately RMB 410,115,000, accounting for 4.0% of sales revenue[50] Corporate Governance - The board does not recommend the payment of an interim dividend for the six months ending June 30, 2024, consistent with the previous period[58] - The board believes that having the same individual serve as both chairman and CEO is beneficial for business development and management efficiency[63] Market Position and Strategy - The company maintains a strong customer base, including major domestic and international wind turbine manufacturers such as GE Renewable Energy and Siemens Gamesa[36] - The competitive landscape in the wind turbine industry is intensifying, leading to price declines in wind turbine gearboxes, which poses challenges for the company's business[41] - The company is actively exploring new product categories and market avenues to capture potential business opportunities[42]