Financial Performance - For the first quarter of 2025, the total operating revenue was RMB 642,682,173.43, representing a 259.09% increase compared to RMB 178,976,300.11 in the same period last year[12] - The net profit attributable to shareholders of the listed company was RMB 1,203,151.63, a significant turnaround from a loss of RMB 13,266,963.32 in the previous year, marking a 109.07% increase[12] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 1,298,597.66, compared to a loss of RMB 13,226,427.52 last year, reflecting a 109.82% increase[12] - The basic earnings per share were RMB 0.0012, compared to a loss of RMB 0.0132 in the same period last year, marking a 109.09% increase[12] - The diluted earnings per share were also RMB 0.0012, reflecting the same percentage increase as the basic earnings per share[12] - Total operating expenses amounted to ¥641,337,262.77, up from ¥195,445,557.48, indicating an increase of approximately 228%[36] - The company reported a net profit of ¥1,203,151.63, recovering from a net loss of ¥13,266,963.32 in the previous period[36] Cash Flow and Liquidity - The net cash flow from operating activities was negative at RMB -3,245,613,607.62, a decline of 291.00% from RMB 1,699,286,889.02 in the previous year[12] - Cash and cash equivalents decreased by 41.04% to RMB 4,250,387,881.24 from RMB 7,208,804,109.21 due to a reduction in client equity scale[16] - The net increase in cash and cash equivalents was -3,214,140,504.53, compared to a positive increase of 1,364,701,271.12 in the previous period[41] - The ending balance of cash and cash equivalents was 3,822,320,331.10, down from 6,177,146,104.81 in the prior period[41] - Cash received from investment activities amounted to 4,702,174,463.20, compared to 1,969,024,383.60 in the previous period, showing a substantial increase[40] - Cash paid for investment activities was 4,689,799,939.52, up from 2,288,587,710.60 in the previous period, indicating increased investment spending[40] Assets and Liabilities - The total assets at the end of the reporting period were RMB 9,243,043,698.44, down 21.00% from RMB 11,699,369,620.88 at the end of the previous year[12] - The equity attributable to shareholders of the listed company was RMB 1,880,069,175.73, a slight increase of 0.18% from RMB 1,876,778,653.33 at the end of the previous year[12] - The company’s liabilities decreased to ¥7,362,974,522.71 from ¥9,822,590,967.55, reflecting a decrease of approximately 25.0%[31] - Total liabilities for derivative financial liabilities decreased by 94.55% to ¥537,220.00, attributed to changes in the scale and valuation of options contracts[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 48,944[20] - The largest shareholder, Jiangsu Suhao Holding Group Co., Ltd., holds 27.33% of the shares, totaling 275,456,777 shares[21] Income and Other Financial Metrics - Net interest income decreased by 51.96% to ¥12,358,396.42 due to a reduction in customer equity and lower bank deposit rates[18] - Investment income increased by 45.29% to ¥21,567,833.73, primarily from gains on derivative financial instruments disposed of by a subsidiary[18] - Other income surged by 309.62% to ¥107,245.33, mainly due to increased government subsidies received[18] - Fair value changes in financial assets resulted in a profit of ¥13,121,143.75, a significant increase from a loss of ¥4,152,724.28 in the previous year[18] - Other business income rose by 428.50% to ¥560,281,868.05, driven by the growth in bulk commodity trading and risk management by a subsidiary[19] - The company reported a significant increase in cash received from sales of goods and services, totaling ¥660,938,869.42, compared to ¥122,682,099.33 previously[39] Changes in Management - The company appointed a new non-executive director and a new employee representative supervisor on February 18, 2025, indicating a change in the board composition[25][26]

Financial Performance - In 2024, the company achieved total revenue of RMB 1.558 billion, representing a year-on-year growth of 26.5%[11] - AI+SaaS business revenue reached RMB 840 million, with a year-on-year increase of 19.9% and a gross margin of 86.3%[11] - The adjusted net profit for the year was RMB 79.2 million, marking a significant turnaround from previous losses[11] - The company reported operating cash inflow of RMB 138.1 million, indicating a positive cash flow for the year[11] - The total assets increased to RMB 3.053 billion, while total liabilities decreased to RMB 2.395 billion, resulting in a net asset value of RMB 658.1 million[8] - The company’s precision marketing business generated RMB 720 million in revenue, reflecting a year-on-year growth of 35.2%[11] - Recurring revenue in AI+SaaS business amounted to RMB 780 million, accounting for 92.2% of total AI+SaaS revenue, ensuring strong future growth[19] - Gross profit rose by 16.9% from RMB 706.2 million in 2023 to RMB 825.8 million in 2024, while gross margin slightly decreased from 57.3% to 53.0%[41] - AI+SaaS business gross profit increased from RMB 616.2 million in 2023 to RMB 726.5 million in 2024, with a gross margin decline from 87.7% to 86.3%[43] - Precision marketing services gross profit grew from RMB 90.0 million in 2023 to RMB 99.3 million in 2024, with a gross margin decrease from 17.0% to 14.0%[44] Business Strategy and Development - The company plans to focus on developing the AI-Agentforce intelligent platform and enhancing commercialization efficiency in marketing and sales sectors[13] - The company aims to expand its product ecosystem through external acquisitions and establish localized service systems in economically developed regions[13] - The company is positioned to lead industry transformation and contribute to the digital transformation of global enterprises[13] - The company aims to expand its global presence and develop localized products to serve overseas markets[25] - The company plans to complete at least two strategic investments or acquisitions by 2025 to enhance its global digital transformation solutions[23] - The company aims to become the best partner for global digitalization and intelligence, focusing on competitive products and services to continuously create value for customers[98][99] Customer Engagement and Retention - Subscription customer retention rate has improved for three consecutive half-years, indicating strong customer value and loyalty[16] - Subscription revenue retention rate for key accounts (KA) exceeded 100% for three consecutive years, demonstrating sustainable growth potential[19] - The average monthly revenue per user increased by 12.1% to RMB 3,848[16] - The average monthly revenue per user in AI+SaaS business rose to RMB 3,848, a 12.1% increase from RMB 3,432 in 2023[30] - Total users in AI+SaaS business increased to 26,606, up 4.4% from 25,495 in 2023[30] Governance and Management - Zhao Xulong serves as the Chairman, Executive Director, and CEO of the company[89] - The company has appointed several independent non-executive directors to enhance governance and oversight[83][84][86] - The board consists of a balanced mix of executive and non-executive directors, ensuring strong independence for effective independent judgment[108] - The board is responsible for guiding and supervising the company's affairs, ensuring effective internal controls and risk management systems are in place[113] - The company has established a risk management and internal control system that is effective and sufficient, covering financial, operational, and compliance aspects[157] Corporate Social Responsibility - The company emphasized its commitment to environmental protection and resource conservation, adhering to relevant environmental laws and regulations in China[190] - The company has not identified any environmental violations during the reporting period, reflecting its commitment to compliance[190] Shareholder Engagement - The company has established multiple communication channels to engage with shareholders effectively, including annual general meetings and various investor relations platforms[169] - The company encourages shareholder participation in meetings and allows for proxy voting if shareholders cannot attend[173] - The board of directors has reviewed the implementation and effectiveness of the shareholder communication policy, confirming its successful execution[169] Future Investments and Financial Planning - The company completed a placement of 1,000,000 new shares in December 2024, raising approximately HKD 110.0 million, with a net amount of about HKD 109.5 million after expenses[194] - Approximately 40% of the net proceeds from the 2025 placement, amounting to HKD 480.72 million, will be allocated to the development and commercialization of AI applications[197] - The company plans to invest about 20% of the net proceeds, or HKD 240.36 million, in mergers and acquisitions targeting companies with strong digital transformation needs in specific industries[197] - The company aims to use around 10% of the net proceeds, approximately HKD 120.18 million, for global expansion, including recruiting senior staff and establishing promotional activities[197] - About 30% of the net proceeds, or HKD 360.54 million, will be allocated to supplementing working capital and general corporate purposes[197]

Financial Performance - For the six months ended February 28, 2025, the company reported revenue of RMB 336,720,000, a slight increase from RMB 332,060,000 in the same period last year, representing a growth of approximately 1.99%[4] - Gross profit for the same period was RMB 104,346,000, up from RMB 102,244,000, indicating a growth of about 2.06%[4] - The company achieved an EBITDA of RMB 122,095,000, which is an increase of 30.0% compared to RMB 93,961,000 in the previous year[4] - The net profit for the period was RMB 4,569,000, a significant recovery from a loss of RMB 14,211,000 in the prior year[4] - Basic earnings per share improved to RMB 0.48, compared to a loss per share of RMB 1.48 in the same period last year[4] - Revenue for the six months ended February 18, 2025, was CNY 336,720,000, compared to CNY 332,060,000 for the same period in 2024, representing a growth of approximately 2%[6] - Gross profit for the same period was CNY 104,346,000, up from CNY 102,244,000, indicating a year-over-year increase of about 2%[6] - Other income increased significantly to CNY 22,763,000 from CNY 8,553,000, reflecting a growth of approximately 166%[6] - Operating profit for the period was CNY 54,044,000, compared to CNY 34,975,000 in the previous year, marking an increase of around 55%[6] Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[5] - Future guidance indicates a focus on maintaining revenue growth and improving profitability through strategic initiatives[5] - The company aims to leverage its financial performance to attract potential investors and enhance shareholder value[5] - The group anticipates continued revenue growth driven by seasonal fluctuations in tuition and accommodation fees, particularly around the academic year start in August and September[21] - The company plans to enhance undergraduate program services to meet market demand and improve profitability, aiming to increase the proportion of these services[54] - The introduction of new AI-related courses and partnerships with industry players is expected to strengthen the educational offerings and enhance student competitiveness[53] - The company aims to establish industry-academy partnerships with local governments and quality enterprises to enhance brand recognition and expand its business network[52] Financial Position and Liabilities - Total liabilities as of February 28, 2025, were not disclosed in the provided data, but the financial position indicates a focus on managing financial assets and liabilities effectively[7] - Total assets decreased from RMB 4,471,175 thousand to RMB 4,333,197 thousand, a decline of approximately 3.1% year-over-year[8] - Non-current liabilities decreased from RMB 1,993,501 thousand to RMB 1,706,561 thousand, a reduction of about 14.4%[10] - Current liabilities increased from RMB 1,616,942 thousand to RMB 1,770,555 thousand, an increase of approximately 9.5%[10] - The company’s total liabilities amounted to RMB 3,477,116 thousand, down from RMB 3,610,443 thousand, a decrease of about 3.7%[10] - Deferred revenue and contract liabilities included in current liabilities amount to RMB 300,610,000, which are not financial liabilities and will not result in future cash outflows[17] Educational Services and Market Position - The group operates primarily in providing private higher education services in China, with a single reportable segment for performance evaluation[18] - As of February 28, 2025, the company generated approximately 98.36% of its revenue from educational services, including tuition and accommodation fees[48] - Tuition fees contributed RMB 297,550,000 to the total revenue for the six months ended February 28, 2025, compared to RMB 293,059,000 in the previous year, indicating an increase of about 1.68%[19] - Accommodation fees for the same period were RMB 33,647,000, up from RMB 32,785,000, reflecting a growth of approximately 2.63%[19] - The company focuses on vocational education and quality high school education, aiming to cultivate high-level, skilled, innovative, and practical talents for China's new urbanization[40] - The company offers a diverse range of professional courses and programs, including smart science and technology, mechanical manufacturing, and artificial intelligence[41] Governance and Compliance - The financial results have been reviewed by the audit committee and management, with no disagreements noted[2] - The board believes that the group will have adequate financial resources to support its operations and fulfill its financial obligations[17] - The company has established a dedicated committee to monitor regulatory developments in China's private education sector[50] - The board of directors decided not to recommend the payment of an interim dividend for the six months ended February 28, 2025[31] - The company has adopted corporate governance rules as per Listing Rule Appendix C1, ensuring compliance as of February 28, 2025[97] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the interim performance without dissenting opinions[99] Employee and Operational Insights - The company has 2,663 full-time employees as of February 28, 2025, up from 2,497 full-time employees on February 29, 2024, indicating a growth of approximately 6.6%[86] - The total employee compensation amounted to approximately RMB 141.45 million, compared to RMB 128.42 million for the six months ending February 29, 2024, representing an increase of about 10.4%[87] - The company aims to recruit and retain qualified teachers with professional knowledge and teaching experience to ensure high-quality education delivery[55] - The company collaborates with large enterprises to enhance the construction and upgrading of industry-academia partnerships, providing students with internship and employment opportunities[41] Shareholder and Market Activities - The company repurchased a total of 7,220,000 shares at a cost of HKD 9,998,500, with the highest price per share being HKD 1.40 and the lowest at HKD 1.37[32] - The company has implemented a restricted share unit plan since August 20, 2019, which was amended by shareholders on January 30, 2023[105] - The company is authorized to repurchase up to 10% of its issued shares as per the resolution passed at the annual general meeting held on February 25, 2025[92]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported a revenue of RMB 373,678,000, representing a 30.3% increase from RMB 286,749,000 in 2023[16] - The gross profit for 2024 was RMB 173,979,000, up from RMB 124,844,000 in 2023, indicating a gross margin improvement[16] - The company reported a net loss attributable to shareholders of RMB 95,363,000 for 2024, a slight improvement from RMB 103,281,000 in 2023[16] - The net loss for 2024 was RMB 95.4 million, a reduction of 7.6% from 2023, while the adjusted net loss was RMB 36.5 million, down 55.4% year-over-year[18] - The group's net loss for the year was approximately RMB 95.4 million, a decrease of about 7.6% from RMB 103.3 million in 2023[57] - The adjusted net loss (non-IFRS measure) for the year was RMB 36.5 million, a reduction of 55.4% compared to RMB 81.8 million in 2023, due to increased revenue and improved operational efficiency[59] Assets and Liabilities - The total assets increased significantly to RMB 1,495,208,000 in 2024, compared to RMB 734,888,000 in 2023, reflecting a growth of 103.5%[16] - The total liabilities increased to RMB 527,919,000 in 2024, up from RMB 361,585,000 in 2023, indicating a rise in financial obligations[16] - Shareholders' equity increased from RMB 373.3 million as of December 31, 2023, to RMB 967.3 million as of December 31, 2024, primarily due to the IPO leading to an increase in share capital and share premium of RMB 662.8 million[60] Market Position and Innovation - The company has achieved a cumulative global shipment of over 80,000 collaborative robots, ranking first in China and among the top two globally[10] - The introduction of the AI+Robot training platform X-Trainer marks a significant innovation, making the company the first to commercialize AI in collaborative robots[12] - The company has established over 200 application scenarios in the industrial sector, enhancing its capabilities in commercial and medical fields[10] - As of 2024, more than 80 Fortune 500 companies are utilizing the company's robots, demonstrating strong market validation[13] - The company has achieved a significant technological breakthrough with the launch of a visual-guided flexible connector assembly solution, enhancing automation in 3C electronic manufacturing[19] - The company has developed the X-Trainer, the world's first commercial AI-enabled collaborative robot, enhancing autonomous learning and operational efficiency[27] Revenue Breakdown - Sales revenue from six-axis collaborative robots was approximately RMB 208.9 million in 2024, up 55.5% from RMB 134.3 million in 2023, due to increased application demand across various industries[39] - Sales revenue from composite robots increased by approximately 64.7% to RMB 56.5 million in 2024, compared to RMB 34.3 million in 2023, driven by sales in manufacturing and retail sectors[41] - Revenue from industrial applications rose by 32.3% to RMB 200.0 million in 2024, up from RMB 151.2 million in 2023, due to steady growth in target markets and enhanced robot functionalities[44] - Revenue from the education sector increased by 19.7% to RMB 146.5 million in 2024, compared to RMB 122.4 million in 2023, driven by improved market penetration of related products[45] - Revenue from the commercial sector surged by 111.6% to RMB 25.6 million in 2024, up from RMB 12.1 million in 2023, attributed to new product launches and increased contracts in the food and beverage market[46] Corporate Governance - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value and accountability[88] - The board of directors is responsible for leading and controlling the group, overseeing business strategy and performance, and ensuring compliance with applicable laws and regulations[94] - The company has adopted the corporate governance code as per the listing rules since its listing date and has complied with all applicable provisions during the reporting period[88] - The board currently consists of a balanced composition of executive, non-executive, and independent non-executive directors, ensuring diverse expertise and independent judgment in decision-making[96] - The company has implemented policies to promote a diverse and safe workplace, emphasizing the importance of safety in operations[90] Employee and Director Information - As of December 31, 2024, the company has a total of 416 male employees and 144 female employees, achieving gender diversity in its workforce[118] - The board consists of seven members, including one female member, resulting in a gender diversity rate of 14.3%[120] - The group employed 560 staff, an increase from 552 in 2023, with total employee costs amounting to approximately RMB 161.8 million compared to RMB 132.6 million in the previous year[187] - The board of directors and senior management's compensation is determined based on their responsibilities, experience, and individual performance, with adjustments made based on recommendations from the remuneration and assessment committee[190] Risk Management and Compliance - The company has implemented an effective risk management and internal control system to manage risks associated with daily operations and achieve business objectives[128] - The internal control system includes risk identification, assessment, management strategies, and monitoring activities to ensure compliance and operational effectiveness[130] - The company has a zero-tolerance policy towards corruption, including bribery and fraud, and has implemented internal reporting channels for employees[140] - The board emphasizes the importance of transparent and timely communication with shareholders to enhance investor relations[145] Financing and Capital Structure - The company issued 358,038,547 H-shares at a price of HKD 18.8 per share, raising approximately HKD 681.4 million in net proceeds from the global offering[162] - The allocation of the net proceeds includes 40.0% (approximately HKD 272.6 million) for the development of smart collaborative robots from 2025 to 2029[163] - The company plans to utilize the proceeds for production line and manufacturing capacity development, accounting for 27.0% (approximately HKD 184.0 million) of the total[163] - The company does not recommend the payment of a final dividend for the year ended December 31, 2024[167] Shareholder Information - The company's largest customer accounted for approximately 5.1% of total revenue for the year ending December 31, 2024, compared to 3.5% in 2023[175] - The total revenue from the top five customers represented about 16.5% of total revenue for the year ending December 31, 2024, up from 12.8% in 2023[175] - The total procurement amount from the largest supplier and subcontractor accounted for approximately 14.7% of total procurement for the year ending December 31, 2024, compared to 13.7% in 2023[175]

Financial Performance - The company's revenue for Q1 2025 reached CNY 2,407,203,605.84, representing a 29.85% increase compared to CNY 1,853,842,113.41 in the same period last year[7]. - Net profit attributable to shareholders increased by 141.10% to CNY 483,416,308.44 from CNY 200,507,242.93 year-on-year[7]. - The basic earnings per share rose by 141.67% to CNY 0.29, compared to CNY 0.12 in the previous year[8]. - Operating profit for Q1 2025 was ¥818,176,911.20, representing a 128.5% increase from ¥359,192,685.63 in Q1 2024[28]. - The total comprehensive income for Q1 2025 was ¥548,761,682.74, compared to ¥239,902,117.38 in Q1 2024[29]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 22,475,764,627.26, a 10.56% increase from CNY 20,328,568,613.12 at the end of the previous year[8]. - The company's total liabilities decreased from ¥9,605,453,197.04 in the previous period to ¥8,681,221,412.60[25]. - Shareholder equity increased significantly from ¥10,723,115,416.08 to ¥13,794,543,214.66, reflecting a growth of 28.8%[25]. - The total current assets as of March 31, 2025, amounted to RMB 8,350,459,536.91, an increase from RMB 6,404,182,464.01 at the end of December 2024[24]. - The total non-current assets amounted to RMB 14,125,305,090.35, up from RMB 13,924,386,149.11 in the previous period[24]. Cash Flow - The company's cash flow from operating activities was CNY 338,008,396.30, a decrease of 12.81% compared to CNY 387,683,907.25 in the same period last year[8]. - Cash and cash equivalents at the end of Q1 2025 amounted to ¥4,580,248,304.76, compared to ¥1,323,922,668.28 at the end of Q1 2024, indicating a substantial increase[32]. - The company reported a net cash inflow from operating activities of ¥338,008,396.30 in Q1 2025, down from ¥387,683,907.25 in Q1 2024[32]. Production and Sales - The production volume of gold in the first quarter of 2025 was 3,338.88 kg, a decrease of 6.89% compared to the same period last year, while sales volume was 3,331.08 kg, down 7.04%[18]. - The unit cost of gold sales increased to RMB 355.09 per gram, up 11.51% from RMB 300.51 per gram in the same period last year[20]. - The sales price of electrolytic copper was RMB 68,703.24 per ton, reflecting an increase of 15.77% year-on-year[18]. Future Outlook - The company plans to continue leveraging the rising gold prices to enhance profitability and maintain stable production and sales volumes[12]. - The company plans to gradually return to normal cost levels in the latter three quarters of 2025 after a significant increase in unit costs due to operational adjustments[21].

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue decreased significantly from approximately HKD 264,515,000 to about HKD 236,371,000, representing a decline of approximately 10.6%[11] - The company reported a loss of approximately HKD 386,605,000 for the year, a substantial increase from a loss of about HKD 73,220,000 in the previous year[12] - The loss attributable to shareholders was approximately HKD 251,341,000, compared to a loss of HKD 47,026,000 in the previous year[13] - The company recognized a one-time fair value loss on investment properties of approximately HKD 158.8 million and an impairment loss on properties held for sale of about HKD 90.8 million[14] Operational Strategy - The company maintained strong sales performance, exceeding market averages, and achieved stable growth in rental income, particularly in core commercial properties[15] - The company plans to leverage advanced technologies, such as artificial intelligence (AI), to further reduce operational costs and improve efficiency[16] - The company is actively adjusting its financing structure to lower costs and has effectively reduced financial expenditures through precise capital operations[15] - The company aims to optimize its real estate asset portfolio, focusing on high-quality and high-potential assets to enhance asset value[7] - The company is committed to a cautious and prudent development strategy to ensure sustainable growth in a competitive market[16] Financial Position - As of December 31, 2024, the group's cash and cash equivalents amounted to approximately HKD 43,969,000, an increase from HKD 40,925,000 as of December 31, 2023[18] - The total current assets as of December 31, 2024, were approximately HKD 529,482,000, down from HKD 715,847,000 as of December 31, 2023, while total current liabilities increased to approximately HKD 884,723,000 from HKD 728,705,000[19] - The total interest-bearing borrowings as of December 31, 2024, were approximately HKD 577,328,000, a decrease from HKD 641,305,000 as of December 31, 2023, with a significant portion due within one year[20] - The debt-to-equity ratio as of December 31, 2024, was approximately 242%, up from 127% as of December 31, 2023[21] Corporate Governance - The company has complied with all provisions of the corporate governance code, except for the separation of the roles of chairman and CEO, which remains vacant[49] - The board consists of seven members, including four executive directors and three independent non-executive directors, ensuring a balanced professional knowledge and experience to meet the company's business needs[52] - The company is committed to establishing good corporate governance practices and has provided monthly updates to all board members[54] - The company has a dedicated audit committee and remuneration committee to oversee financial reporting and compensation matters[49] Risk Management - The company established a risk management framework consisting of two main components: risk management structure and risk management procedures[115] - The board of directors is responsible for establishing the risk management framework and policies, continuously monitoring the effectiveness of the risk management and internal control systems, and reviewing them at least annually[116] - The management team is tasked with identifying and continuously monitoring strategic, operational, financial, reporting, and compliance risks, reporting changes to the board and audit committee[119] - The company has completed a review of its risk management framework and procedures during the fiscal year, reporting the risk assessment results to the board and audit committee[128] Shareholder Communication - The company is committed to high levels of disclosure and financial transparency to its shareholders and investors[170] - The company has established multiple communication channels for shareholders to provide feedback and inquiries[170] - The board is responsible for ensuring balanced and clear assessments of the company's financial condition and prospects for shareholders[165] - The company has adopted the latest shareholder communication policy effective from January 1, 2022, aimed at ensuring timely, clear, and reliable information is provided to shareholders[174] Internal Controls - The company aims to enhance internal controls and has implemented corrective measures based on recommendations from internal control consultants[162] - The internal control consultant identified significant internal control deficiencies and made recommendations for improvement[138] - The company will implement a credit risk management system, including setting credit limits and conducting periodic credit assessments[159] - The company must enhance measures to identify potential fraud risks, including financial anomaly analysis and historical background checks[144] Board Diversity and Composition - The company has adopted a new board diversity policy effective from January 1, 2022, emphasizing the importance of a diverse board for long-term stability and performance[93] - The board consists of five male directors and two female directors, achieving gender diversity and possessing appropriate skills and expertise for the company's business[108] - The company aims to maintain a board that reflects diverse experiences and perspectives to enhance decision-making and stakeholder interests[94] - The nomination committee is responsible for evaluating potential board candidates based on various criteria, including professional qualifications and experience[90]

Company Overview - Voicecomm Technology Co., Ltd. is set to list its H-shares on July 10, 2024, with a share price of RMB 1.00 per share[5]. - The company plans to hold its annual general meeting on June 20, 2025[5]. - The report period covers the fiscal year ending December 31, 2024[6]. - The company is headquartered in Wuhan, Hubei Province, China, focusing on software development and technology solutions[12]. Governance and Management - The board of directors includes key figures such as Chairman Tang Jinghua and several independent non-executive directors[10]. - The audit committee is chaired by Liang Jiankang, who was appointed on September 4, 2024[10]. - The company has established a strategic and sustainable development committee to enhance its long-term growth strategy[10]. - The company has appointed several independent directors with extensive experience in finance and law to enhance governance[106][110]. - The company is committed to maintaining high standards of corporate governance and oversight through its board of directors[109]. - The company has established a governance framework that includes a clear distinction between the roles of the chairman and the CEO[190]. - The board has a responsibility to guide and supervise the company's affairs, ensuring effective risk management and internal control systems[187]. - The company has committed to enhancing its corporate governance practices to ensure compliance with legal and professional standards[180]. Financial Performance - The company achieved a revenue of RMB 941.4 million in 2024, representing a year-on-year growth of 15.8%[19]. - Gross profit for 2024 was RMB 510.4 million, with a year-on-year increase of 56.9%, resulting in a gross margin of 54.2%, up 14.2 percentage points[19]. - Adjusted net profit reached RMB 151.4 million, reflecting a year-on-year growth of 28.6% and an adjusted net profit margin of 16.1%, up 1.6 percentage points[19]. - The company's total assets grew to RMB 2,395.3 million in 2024, up from RMB 1,380.1 million in 2023[16]. - Total liabilities decreased to RMB 794.6 million in 2024 from RMB 1,372.6 million in 2023, indicating improved financial stability[16]. - The company's annual loss increased from RMB 29.2 million in 2023 to RMB 481.5 million in 2024, primarily due to changes in the redeemable capital's carrying value[73]. - The company reported a significant increase in trade receivables impairment losses, which rose by 119.0% from RMB 55.4 million in 2023 to RMB 121.3 million in 2024[49]. Market Expansion and Strategy - The company aims to leverage advancements in AI and IoT technologies to expand its market presence[6]. - The company has plans for future product development and market expansion, focusing on innovative technology solutions[6]. - The company plans to expand its market presence in the ASEAN region, focusing on Malaysia and later the Middle East, particularly the UAE, Saudi Arabia, and Oman[48]. - The company is actively exploring diversified business opportunities, leading to a 139.3% increase in revenue from other industries, from RMB 30.2 million in 2023 to RMB 72.3 million in 2024[57]. - The company aims to establish a second growth curve by expanding horizontally into new application scenarios in energy management and health sectors, leveraging its technological and market experience[41]. Research and Development - Research and development expenses rose by 35.4% from RMB 98.8 million in 2023 to RMB 133.7 million in 2024[49]. - The company is investing in research and development, allocating $HH million towards new technology initiatives aimed at improving operational efficiency[101]. - The company is focused on enhancing interactive artificial intelligence technology, aiming to develop mature and commercially valuable products and solutions in 2024[127]. Strategic Partnerships and Collaborations - The company has signed a strategic cooperation framework agreement with Meigaoyu Group to provide comprehensive IT infrastructure solutions and services in the China and Hong Kong markets[27]. - The company has entered into a strategic cooperation agreement with China State Construction First Engineering Group to participate in industrial park construction projects in Shanghai, Wuhan, and Malaysia, ensuring high-quality construction services[40]. - The company has signed a memorandum of cooperation with Qinghai Water Resources and Hydropower Group to collaborate in smart water management, clean energy, AI, and big data industries, aiming to create a new platform and ecosystem for smart water services[39]. Corporate Social Responsibility and Sustainability - The company is focusing on sustainability initiatives, with plans to reduce operational costs by JJ% through eco-friendly practices[103]. - The company has not faced significant environmental risks and has not incurred fines or penalties for violating environmental regulations during the reporting period[134]. Shareholder Information - The company will no longer have a supervisory board, with all supervisors resigning effective January 13, 2025[114]. - The board consists of 2 executive directors, 4 non-executive directors, and 3 independent non-executive directors as of August 1, 2024, following the resignation of an independent non-executive director[188]. - The company has maintained a sufficient public float, with at least 25% of its issued shares held by the public[154]. Audit and Compliance - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, and believes they fairly reflect the financial position and performance of the group[178]. - The audit committee consists of three members, ensuring proper oversight of financial reporting and internal controls[178]. - The company has implemented a whistleblowing policy to allow employees to report concerns regarding financial reporting and internal controls confidentially[198].

Revenue and Profit Performance - The company's revenue decreased by approximately SGD 5.01 million or 21.0% from SGD 23.87 million in the previous year to SGD 18.87 million for the year ended December 31, 2024[9]. - The automotive service business in Singapore generated revenue of SGD 17.49 million, a decrease of SGD 3.2 million from the previous year[12]. - The smart kitchen and restaurant brand management segment in China reported revenue of SGD 1.4 million, down by SGD 1.8 million compared to the previous year[12]. - The company achieved a profit of approximately SGD 1.03 million for the year, compared to a loss of SGD 1.53 million in the previous year, primarily due to the sale of a subsidiary in China[9]. - The company's revenue for the year ended December 31, 2024, decreased by approximately SGD 5.01 million or 21.0% to about SGD 18.87 million, down from approximately SGD 23.87 million for the year ended December 31, 2023[17]. - Revenue from Singapore operations declined by 15.6% to SGD 17.49 million, primarily due to a decrease in parts export sales and a slowdown in maintenance and repair service income[17]. - Revenue from mainland China operations fell by 56.1% to SGD 1.38 million, attributed to ongoing macroeconomic challenges leading to cautious customer spending[17]. - Other income and gains increased by approximately SGD 0.75 million or 48.1% to about SGD 2.31 million, mainly due to the sale of a subsidiary in China[18]. - The company recorded a profit of approximately SGD 1.03 million for the year ended December 31, 2024, compared to a loss of approximately SGD 1.53 million in the same period of 2023[23]. - The company reported a pre-tax profit of SGD 1,160,000, compared to a loss of SGD 1,260,000 in 2023[168]. - Net profit for the year was SGD 1,031,000, a significant recovery from a loss of SGD 1,528,000 in the prior year[168]. Operational Focus and Strategy - The company plans to focus on cost control and key operational areas to navigate the challenging economic environment[9]. - The company aims to enhance its service offerings for various passenger car brands, including hybrid and electric vehicles, by ensuring technicians are familiar with advanced repair equipment[10]. - The company is committed to exploring new partnerships and business opportunities to add value to the group in the future[10]. - The company aims to strategically expand its business by diversifying into new industries and geographical locations while maintaining its competitive advantage in traditional automotive services[57]. - The company plans to expand its market presence in China, focusing on automotive sales and services[176]. Financial Position and Cash Flow - The net cash flow from operating activities for the year ended December 31, 2024, was approximately SGD 2.97 million, compared to SGD 2.21 million when excluding the impact of IFRS 16 depreciation[29]. - The company's cash and bank balances increased to approximately SGD 5.35 million as of December 31, 2024, from SGD 2.93 million as of December 31, 2023[29]. - The debt-to-equity ratio as of December 31, 2024, was 0.29, slightly improved from 0.30 as of December 31, 2023[31]. - The company has a total of 130 full-time employees as of December 31, 2024, down from 139 employees as of December 31, 2023[38]. - The company incurred a depreciation expense of SGD 219,000 for property, plant, and equipment in 2024, down from SGD 334,000 in 2023[172]. - The company sold a subsidiary, generating a net cash inflow of SGD 247,000, contributing to the overall financial improvement[170]. - Operating cash flow for the year ended December 31, 2024, was SGD 2,971,000, a substantial increase from SGD 527,000 in 2023[172]. - Cash and cash equivalents increased to SGD 5,351,000 at the end of 2024, up from SGD 2,930,000 at the beginning of the year[173]. Corporate Governance and Board Structure - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors[42]. - The company has a commitment to high standards of corporate governance, ensuring that the roles of chairman and CEO are not held by the same individual, although currently, they are[56]. - The board has adopted a diversity policy to enhance board member diversity, considering factors such as gender, age, cultural and educational background, and professional experience[58]. - The company has established a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[63]. - The board is responsible for overseeing the company's financial performance, including liquidity, working capital, and capital expenditure requirements[62]. - The audit committee held three meetings in the fiscal year ending December 31, 2024, reviewing the group's interim and annual financial performance[70]. - The company has maintained at least three independent non-executive directors, ensuring compliance with GEM listing rules regarding independence[68]. - The board is tasked with formulating overall strategy and reviewing financial performance, including significant transactions such as acquisitions and capital expenditures[69]. - The company has established a remuneration committee to review the compensation policy based on operational performance and market practices[126]. Risk Management and Compliance - The company has established policies and procedures to identify, assess, and manage significant risks, including ESG risks, with the board responsible for maintaining effective risk management systems[83]. - The company has implemented a whistleblowing policy applicable to all directors and employees, providing a confidential reporting channel for misconduct[87]. - The anti-corruption policy prohibits any form of corruption, bribery, extortion, fraud, or money laundering, and is part of the corporate governance framework[88]. - The company has complied with all relevant laws and regulations without any significant violations during the year[134]. Shareholder Engagement and Communication - The company emphasizes the importance of ongoing communication with shareholders through various channels, including announcements and quarterly reports[96]. - The company plans to distribute future corporate communications electronically, effective December 31, 2024, unless shareholders request printed copies[97]. - The company encourages shareholders to participate in all general meetings and provides avenues for submitting opinions and suggestions[96]. - The company is committed to compensating reasonable expenses incurred by shareholders if the board fails to convene a special meeting within 21 days of a request[91]. Market and Industry Context - The company operates primarily in the automotive sector, including maintenance, modification, financing, and sales of passenger vehicles[102]. - Regulatory factors in Singapore, such as the Certificate of Entitlement (COE) system, may significantly impact the company's business operations[103]. - The company acknowledges that its reputation and consumer perception of service quality are critical to its business success[101]. - The company's business performance is subject to risks related to negative publicity and customer complaints, which could adversely affect financial results[101]. Share Capital and Securities - The company plans to issue up to 400,000,000 shares at a placement price of HKD 0.04 per share, which was completed on January 23, 2025[35]. - As of December 31, 2024, the company had a total of 2,000,000,000 shares issued, with the largest shareholder holding approximately 29.54%[116]. - The company adopted a share option scheme on October 21, 2016, which is set to expire on October 20, 2026[118]. - The company did not engage in any purchase, sale, or redemption of its listed securities during the year ending December 31, 2024[110]. - There were no changes in the company's share capital for the year ending December 31, 2024, as detailed in the financial statements[109]. Financial Reporting and Audit - The financial statements were prepared in accordance with International Financial Reporting Standards and the disclosure requirements of the Hong Kong Companies Ordinance[156]. - The audit was conducted in compliance with International Auditing Standards, ensuring the independence of the auditors[157]. - The audit report indicates that the consolidated financial statements fairly reflect the group's financial position and performance as of December 31, 2024[156]. - The company has adopted consistent and appropriate accounting policies, making reasonable judgments and estimates in accordance with applicable accounting standards[77]. - The independent auditor's responsibility is to express an opinion on the financial statements prepared by the board, ensuring transparency and compliance with GEM listing rules[77].

Financial Performance - The company's revenue for 2024 was RMB 21,264,854, a decrease of 2.14% from RMB 21,728,120 in 2023[16] - Gross profit increased to RMB 2,543,838, up 12.54% from RMB 2,259,547 in the previous year[16] - Profit attributable to shareholders rose to RMB 1,061,480, representing a significant increase of 69.91% compared to RMB 625,549 in 2023[16] - Basic earnings per share improved to RMB 0.1511, up from RMB 0.0891 in the prior year[16] - Return on equity increased to 10.55%, compared to 6.52% in 2023, indicating enhanced profitability[16] - The company achieved a revenue of RMB 21.265 billion for the year ending December 31, 2024, with a net profit attributable to shareholders of RMB 1.061 billion, representing a year-on-year growth of 69.49%[58] - Excluding impairment losses related to Yangmei Plain Chemical Co., the adjusted net profit attributable to shareholders for the year was RMB 1.229 billion, a growth of 6.96% compared to RMB 1.149 billion for the previous year[59] - The segment profit for the fiscal year ending December 31, 2024, was RMB 1.38 billion, down from RMB 1.42 billion in the previous year, a decrease of about 3.06%[90][93] - The basic business segment reported a profit of RMB 645 million, a decrease of 4.9% compared to the previous year[90] - The growth business segment achieved a profit of RMB 347 million, a significant increase of 45.11% year-over-year, driven by a 10% increase in compound fertilizer sales and a 59% increase in high-end differentiated compound fertilizer sales[90] - The production business segment's profit was RMB 387 million, a decrease of 23% year-over-year, impacted by a significant drop in synthetic ammonia prices[90] - The net profit margin for the fiscal year ending December 31, 2024, was 4.99%, an increase of 2.11 percentage points compared to the previous year[94] Sales and Market Performance - In 2024, the company achieved a sales volume of 7.21 million tons and a revenue of RMB 21.265 billion, with a net profit of RMB 1.075 billion, representing a year-on-year growth of 57%[20] - The company's shareholder profit reached RMB 1.061 billion, marking a year-on-year increase of 69.49%[20] - The company launched 6 new or upgraded products, including "Huanfeng" and "Weidefeng," achieving a total research output of 1.285 million tons, with sales of Class A products like Lanlin and Kede Feng increasing by 55% year-on-year[60] - The company achieved a 12% year-on-year increase in phosphate fertilizer sales, with differentiated biological phosphate fertilizer sales reaching 250,000 tons, a 14% increase year-on-year[63] - The differentiated compound fertilizer sales for 2024 are projected to be 1.5 million tons, an increase of 160,000 tons year-on-year, with high-end biological products seeing a 59% year-on-year sales growth[64] - The total sales of specialty fertilizers exceeded 110,000 tons in 2024, a year-on-year increase of 20%, with soil health products achieving sales of 30,000 tons, up 11% year-on-year[65] - The company reported a revenue of RMB 410 million from collaborative plant protection in 2024, a 5% increase year-on-year, with a three-year compound growth rate of 17%[66] Research and Development - The company is committed to continuous research and development in crop nutrition products and related technologies[12] - The company launched the "Bio+" technology brand and achieved a research output conversion of 1.285 million tons, with Class A product sales increasing by 55% year-on-year[22] - The company’s research and development efforts are focused on the "Biological +" strategy, with 27 patents granted in key biotechnology areas, enhancing its technological foundation[60] - The company’s innovative "Root-Phosphorus Efficient Coupling Technology" was recognized as a major new agricultural technology in China for 2024, marking a significant achievement in its R&D efforts[47] - The company aims to enhance its integrated R&D capabilities in "nutrient efficiency, biological agents, and soil health" under its "Biological +" strategy[78] Strategic Initiatives - The company aims to lead in bio-fertilizer and soil health innovation, focusing on sustainable agricultural practices[11] - The company has established a comprehensive sales service network covering 95% of arable land in China[12] - Strategic partnerships with international suppliers have been formed to enhance product offerings and market reach[12] - The company signed a strategic cooperation memorandum with the American company for sustainable agricultural development and technology innovation[35] - The company aims to enhance operational management and provide green and efficient crop nutrition products while ensuring stable cash flow for investment decisions[23] - The company plans to celebrate its 20th anniversary in 2025 with a focus on the "Bio+" strategy and sustainable development[23] Environmental and Social Responsibility - The company maintained a 100% utilization rate of phosphogypsum for two consecutive years and received multiple awards for its environmental projects[22] - The company is committed to ensuring food security and supporting farmers' income growth as part of its social responsibility initiatives[78] - The company received the "Leading Environmental Project" award for its "Sinochem Changshan Low Carbon Environmental Comprehensive Management Project" at the 2024 ESG Leading Enterprises event[47] Governance and Management - The company has a strong governance structure with independent non-executive directors overseeing various committees, ensuring compliance and strategic direction[145][146][147] - The company emphasizes its commitment to corporate governance and strategic planning through the establishment of various committees[145][146] - The board of directors consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors[158] - The company has adopted the corporate governance code as per the listing rules, ensuring compliance and transparency in its operations[155] - The company has experienced a change in board composition, with Mr. Liu Hongsheng resigning as non-executive director and chairman, and Mr. Su Fu appointed as his successor[159] - The company has implemented a mechanism to ensure that the opinions and suggestions of independent non-executive directors are communicated to management for follow-up[164] Employee Development - The group employs approximately 4,371 full-time employees, with compensation structured to align employee interests with company performance and shareholder value[135] - A total of 21,565 training sessions were conducted, amounting to approximately 158,092 hours of training, covering various topics to enhance management skills and overall employee quality[190] - The group emphasizes employee development, with significant training initiatives aimed at improving core competitiveness[190] Financial Management and Risks - The company faces significant financial risks, including market risk, credit risk, and liquidity risk[127] - Market risk encompasses currency risk, interest rate risk, and other price risks, with management employing forward foreign exchange contracts to mitigate potential adverse impacts on financial performance[128] - The group has implemented robust management procedures for credit limits, payment terms, and overdue collections to prevent and control credit risk[130] - Liquidity risk management includes strengthening daily cash position management and maintaining sufficient cash and cash equivalents to meet operational and debt obligations[131]

Financial Performance - The group's net profit for the year ended December 31, 2024, was approximately RM 13.29 million, an increase of about RM 2.99 million compared to RM 10.30 million for the year ended December 31, 2023[5]. - Total revenue for the year ended December 31, 2024, was approximately RM 93.06 million, a slight decrease of about 1.46% from RM 94.44 million for the year ended December 31, 2023[10]. - The net profit margin for the year ended December 31, 2024, was approximately 14.3%, compared to 10.9% for the year ended December 31, 2023[19]. - Operating profit increased to RM 18,502,000, up 18.4% from RM 15,574,000 in the previous year[187]. - Basic earnings per share rose to 3.32 sen, an increase of 28.6% from 2.58 sen in the prior year[187]. Revenue and Expenses - Employee costs decreased by approximately RM 4.94 million or 7.8% to about RM 58.42 million for the year ended December 31, 2024[13]. - Other operating expenses increased by approximately RM 2.28 million or 20.6% to about RM 13.33 million for the year ended December 31, 2024[15]. - Other income decreased by approximately RM 0.46 million due to a reduction in estimated interest income from financial assets[11]. - Employee costs for the year ending December 31, 2024, total approximately MYR 58.42 million, accounting for about 62.8% of total revenue, down from 67.1% in 2023[26]. - The company reported a decrease in employee costs to RM 58,415,000 from RM 63,364,000, a reduction of 7.5%[187]. Cash Flow and Financial Position - The net cash inflow from operating activities for the year ending December 31, 2024, is approximately MYR 14.71 million, compared to MYR 14.33 million in 2023[20]. - As of December 31, 2024, the total equity and liabilities of the group are approximately MYR 42.98 million and MYR 20.63 million, respectively, compared to MYR 48.95 million and MYR 25.03 million in 2023[22]. - The company's net cash from operating activities was RM 14,706,000, slightly up from RM 14,329,000 in 2023[195]. - The company reported a net cash outflow from financing activities of RM 25,814,000, which is an increase of 33.7% compared to RM 19,317,000 in the previous year[197]. - Cash and cash equivalents decreased by RM 729,000, contrasting with an increase of RM 11,792,000 in 2023[197]. Strategic Initiatives - The group plans to enhance capabilities and maintain its leadership role in the telemarketing industry, including establishing a customer contact center and upgrading existing IT systems[5]. - The group aims to pursue innovation and convert challenges into opportunities to provide the best service to customers[6]. - The company plans to continue focusing on operational efficiency and cost management strategies to enhance profitability in the upcoming fiscal year[187]. Governance and Compliance - The board consists of 6 members, including 3 executive directors and 3 independent non-executive directors, ensuring a balanced oversight structure[89]. - The company has complied with listing rules by having at least 3 independent non-executive directors, with one possessing suitable accounting and financial management expertise[90]. - The company has adopted a dividend policy that allows for cash or stock dividends, with distributions being contingent on the board's discretion and the group's financial performance, including earnings per share and market conditions[107]. - The audit committee reviewed the group's annual and interim financial performance, ensuring compliance with accounting standards and statutory requirements[112]. - The company has complied with the corporate governance code as of December 31, 2024, with no deviations reported[156]. Shareholder Information - The company announced a special dividend of HKD 0.04 per share (equivalent to MYR 0.02452) on May 27, 2024, and another special dividend of HKD 0.04 per share (equivalent to MYR 0.02363) on December 3, 2024[47]. - As of December 31, 2024, Ng Chee Wai holds 163,000,000 shares, representing 40.75% of the issued share capital[141]. - Lee Koon Yew holds 75,300,000 shares, representing 18.83% of the issued share capital[141]. - The company paid dividends amounting to RM 21,808,000, which represents a 42.5% increase from RM 15,337,000 in 2023[197]. Risk Management - The company has identified key risks affecting operational performance, including labor acquisition and payment delays from major clients[129]. - The group must disclose matters related to its ability to continue as a going concern when preparing the financial statements[179]. - The independent auditor has audited the consolidated financial statements for the year ending December 31, 2024, and will be proposed for reappointment at the upcoming annual general meeting[171].