Financial Performance - The Group's revenue increased by approximately 15.8% from approximately MOP582.9 million for the year ended 31 December 2023 to approximately MOP675.2 million for the year ended 31 December 2024[23]. - The Group recorded a loss for the year of approximately MOP17.7 million[23]. - The Group's gross profit decreased by approximately MOP 3.3 million or 32.0% to approximately MOP 7.0 million for the year ended 31 December 2024, down from approximately MOP 10.3 million for the year ended 31 December 2023[45]. - The gross profit margin decreased to approximately 1.0% for the year ended 31 December 2024 from approximately 1.8% for the year ended 31 December 2023[45]. - The total comprehensive loss for the year was approximately MOP17.7 million for 2024, a decrease from approximately MOP34.1 million in 2023, mainly due to the combined effects of the aforementioned items[57][62]. - The basic loss per share for the year ended December 31, 2024, was approximately MOP1.61 cents, down from approximately MOP3.12 cents in 2023[58][63]. - The Group's total equity attributable to owners decreased to approximately MOP 160.8 million as of December 31, 2024, from approximately MOP 178.5 million in 2023[90]. - The Group's other income and gains increased to approximately MOP4.8 million for the year ended December 31, 2024, compared to a loss of approximately MOP1.1 million for the year ended December 31, 2023[48][52]. Project and Market Activity - The Group completed 39 building and ancillary services projects and was awarded 29 new projects during the year[23]. - The public sector market in Macau remains vibrant due to new construction projects launched by the Macau Government[25]. - The construction market in Macau is expected to increase due to the resurgence of the gaming and tourism sectors, providing opportunities for the Group to expand its footprint in the private sector[29]. - The Group aims to explore business opportunities in Hong Kong, focusing on foundation works, which are expected to provide strategic benefits and support overall growth[29]. - The Group anticipates an increase in Macau's construction market activities due to the recovery of the gaming and tourism industries, presenting opportunities for expansion in the private sector market[118]. Cost Management and Financial Strategy - Rising costs and competitive pressures adversely impacted the gross profit of construction projects despite revenue growth[24]. - Strict cost control measures are a top priority for the Group to navigate the competitive environment in Hong Kong[26]. - The Group is committed to improving financial performance through strict cost control amidst challenges such as potential tariffs affecting construction material costs[30]. - The Group emphasizes cost control and operational efficiency to safeguard financial performance amid potential tariffs affecting construction material costs[119]. - The Group will continue to monitor market dynamics and adjust its strategies as needed to ensure financial stability and sustained growth[119]. Corporate Governance and Management - The Group's commitment to high corporate governance standards aims to safeguard shareholder interests and enhance corporate value[162]. - The Company has complied with all applicable code provisions of the Corporate Governance Code except for the deviation from code provision C.2.1, which requires separation of the roles of chairman and chief executive officer[163]. - The Board consists of six Directors, including three independent non-executive Directors, ensuring sufficient independent voice to protect the interests of the Company and its shareholders[172]. - The Company has received written confirmation from each independent non-executive Director regarding their independence according to the guidelines set out in Rule 3.13 of the Listing Rules[194]. - The Nomination Committee evaluates candidates for directorship based on criteria including character, qualifications, and independence[196]. Human Resources and Employment - The Group had 295 full-time employees as of December 31, 2024, a significant decrease from 598 in 2023[108]. - The Group has not faced significant labor disputes or difficulties in recruiting skilled personnel, ensuring operational stability[77]. - The Group's total staff costs from operations were approximately MOP151.9 million for the year ended December 31, 2024, compared to approximately MOP111.1 million in 2023, representing an increase of about 36.6%[112]. Risks and Challenges - The Group faces risks related to securing new contracts, as revenue is derived from non-recurrent projects and there is no guarantee of future business after current projects are completed[66][68]. - The future growth of the construction industry in Macau and Hong Kong is uncertain and heavily reliant on government spending and private sector project availability[70]. - The Group's credit risk concentration increased, with 35.6% of total trade receivables due from the largest debtor and 77.1% from the five largest debtors as of December 31, 2024[105]. Equipment and Capacity - The Group aims to enhance construction capacity and efficiency by acquiring additional equipment in 2024[18]. - The Group's property, plant, and equipment increased to approximately MOP115.0 million as of December 31, 2024, from approximately MOP86.8 million as of December 31, 2023, with acquisitions of approximately MOP52.1 million during 2024[60][65]. Board Changes - Mr. Cheung Wai Lun Jacky resigned as an independent non-executive director in December 2024[114]. - Mr. Chan Wai Keung was appointed as an executive director on October 18, 2024, and is responsible for business development[131]. - Mr. Chan has over 35 years of experience in business operations, international trade, and investments, currently serving as chairman and CEO of China Trend Investments Limited[132].

Healthcare Operations - The company operates 73 medical institutions across 14 provinces and municipalities in China, including 6 tertiary hospitals and 31 secondary hospitals, with a total of over 16,000 beds[9]. - The company aims to contribute to the "Healthy China" strategy and enhance its role in the national healthcare sector[9]. - The company is committed to providing quality medical services that are safe, effective, accessible, and human-centered[9]. - The company has added 2 new tertiary specialty hospitals, achieving a breakthrough in national key specialties, with a total expansion area of 270,000 square meters[13]. - The company has served a cumulative total of 41 million patients through its internet health platform, enhancing its digital capabilities[14]. - The total number of patient visits across 65 consolidated medical institutions reached approximately 10.414 million, representing a year-on-year growth of 4.5%, with surgical procedures exceeding 106,000, up 13.3%[29]. - The total number of discharges increased by 6.2% to 521,000, with bed occupancy rate improving from 89.0% to 90.0%[30]. - The group successfully reduced overall drug and consumable costs as a percentage of revenue by 3 percentage points, enhancing the sustainability and risk resistance of medical institutions[31]. - The rehabilitation specialty revenue reached RMB 601.2 million in 2024, representing a year-on-year growth of 20.2%[43]. - The nephrology specialty generated revenue of RMB 317.3 million in 2024, with a year-on-year increase of 15.7%[44]. Financial Performance - The company achieved total revenue of RMB 13,663.5 million for the year ended December 31, 2024, representing a year-on-year growth of 0.1%[24]. - Revenue from the healthcare business reached RMB 8,488.3 million, an increase of 8.4% year-on-year, accounting for 62.1% of total revenue[24]. - The company's net profit for the year was RMB 2,258.3 million, up 2.7% year-on-year, with the healthcare business contributing RMB 522.2 million, a 15.0% increase[24]. - The return on total assets (ROA) was 2.71%, while the return on equity (ROE) for common shareholders was 12.37%[24]. - The company’s basic earnings per share (EPS) was RMB 1.07, maintaining the same level as the previous year[24]. - The company achieved a net profit of RMB 86.5 million from the medical equipment lifecycle management business in 2024, reflecting a year-on-year increase of 145.4%[47]. - The financial services segment reported a revenue of RMB 5,227.2 million in 2024, a year-on-year decrease of 11.1%, while net profit rose by 0.2% to RMB 1,747.6 million[56]. - The financial segment's revenue decreased by 11.1% to RMB 5,227.2 million, making up 38.3% of total revenue[62]. - The healthcare segment's gross profit rose by 31.1% to RMB 1,401.8 million, while the financial segment's gross profit decreased by 8.4% to RMB 3,028.1 million[61]. Strategic Development - The company focuses on the rapidly developing healthcare industry in China, leveraging its strengths in medical services, financial services, and health technology[9]. - The company emphasizes the integration of finance and healthcare to build a shared and win-win ecosystem in the health industry[9]. - The company is actively responding to opportunities in the healthcare sector, aiming to leverage its advantages as a central enterprise[9]. - The company has completed multiple acquisitions in fields such as ophthalmology and smart healthcare, improving its business layout under the "1+N" strategy[14]. - The company has launched nearly 600 lean management projects, achieving significant improvements in efficiency, quality, and cost savings[14]. - The company aims to leverage its strengths in medical and financial resources to build a comprehensive health ecosystem and create a world-class healthcare group[58]. - The company plans to continue strengthening its health technology business and accelerate the development of its health industry ecosystem[67]. Risk Management and Governance - The company has established a systematic risk control system, utilizing a multi-dimensional risk assessment model for management[128]. - The company has implemented a comprehensive risk management framework involving multiple departments to enhance asset quality and safety[149]. - The company actively monitors and manages credit risk by only engaging with reputable third parties and regularly assessing the creditworthiness of clients[145]. - The board regularly reviews and strengthens its corporate governance practices to ensure compliance with governance codes[168]. - The audit committee is responsible for monitoring the integrity of the company's financial statements and reviewing significant opinions related to financial reporting[188]. - The company has a dedicated risk control department that implements a tiered authorization approval system for regular business evaluations[128]. Employee and Board Diversity - The group had a total of 22,885 employees, an increase of 1,851 employees (8.8%) compared to June 30, 2023[165]. - Approximately 66.01% of employees hold a bachelor's degree or higher, while 6.84% possess a master's degree or higher[165]. - The board consists of 11 members, including 3 executive directors, 4 non-executive directors, and 4 independent non-executive directors[173]. - The board has maintained a minimum of three independent non-executive directors, fulfilling the listing rules requirements[179]. - The company emphasizes the importance of board diversity in skills, experience, and demographics to enhance performance quality[194]. - The current board composition is deemed sufficiently diverse, with a focus on various skills and backgrounds[195]. - The company plans to maintain its current gender ratio in the future, which is considered satisfactory[199].

Financial Performance - In 2024, JW Therapeutics generated nearly RMB 160 million in revenue from the sales of Benaodai®, maintaining stability compared to 2023[9]. - Revenue for the year ended December 31, 2024, was RMB 158.2 million, a decrease of 9.0% from RMB 173.9 million for the year ended December 31, 2023[13]. - Gross profit decreased by 12.4% to RMB 77.3 million, with a gross margin of 48.9%, down from 50.7% in the previous year[14]. - The net loss for the year ended December 31, 2024, was RMB 590.6 million, a reduction from RMB 768.0 million in the previous year[15]. - The adjusted loss for the year ended December 31, 2024, decreased to RMB 405.5 million from RMB 514.5 million for the year ended December 31, 2023, primarily due to reduced general and administrative expenses[19]. - Other income and losses decreased to RMB 147.6 million from RMB 219.2 million, reflecting a reduction in impairment losses related to licenses[15]. - Total assets decreased to RMB 1,680.4 million as of December 31, 2024, down from RMB 2,146.1 million in the previous year[17]. - As of December 31, 2024, cash and cash equivalents amounted to RMB 757.4 million, a decrease of RMB 248.5 million compared to RMB 1,005.9 million as of December 31, 2023[18]. - The company had a cash outflow of RMB 248.5 million during the year, primarily due to R&D expenses and administrative costs[87]. - The total number of employees decreased by 29.4% to 281 as of December 31, 2024, compared to 398 in 2023[98]. Research and Development - The company initiated a Phase I clinical trial for relma-cel in treating SLE, with patient enrollment completed by the end of 2024[10]. - The company aims to continue the development of Beiduo Da® for treating other hematological malignancies and autoimmune diseases, with a new drug application submission planned[12]. - The company has made significant progress in developing innovative products with global commercialization potential[22]. - The company is focused on expanding its pipeline of CAR T-cell therapies targeting various hematological malignancies and autoimmune diseases[40]. - The company has initiated clinical development for cell therapy products targeting MAGE-A4 and DLL3 for solid tumors, and started IND research for relma-cel as a potential treatment for SLE[36]. - The company is developing a targeted therapy for SLE, which is anticipated to capture a significant market share due to the high treatment demand[55]. - JWTCR001, a specific cell therapy product targeting MAGE-A4, has received priority review from the FDA for its application in treating synovial sarcoma[57]. - The company is advancing multiple candidates for solid tumors, with ongoing clinical trials for products targeting HCC and other malignancies[56]. Product Development and Approval - Benaodai® received approval from the National Medical Products Administration in August 2024 for the treatment of r/r MCL patients, becoming the first cell therapy product approved in China for this indication[10]. - The National Medical Products Administration accepted the supplemental new drug application for Benauda to treat r/r MCL adult patients in early 2024, with priority review granted[36]. - The company plans to submit a new drug application for Beinuoda® for the treatment of r/r MCL patients in the first half of 2025, following the completion of patient enrollment in the clinical trial[27]. - Relma-cel has received breakthrough therapy designation for second-line treatment of r/r LBCL, with the first patient enrolled in November 2023 and completion of enrollment expected in H2 2024[44]. Market Strategy and Expansion - JW Therapeutics is focusing on three main areas for progress in 2025, aiming to lead the development of high-quality cell immunotherapy products in China and globally[11]. - The company is actively seeking business collaboration opportunities with domestic and international partners to enhance clinical development efficiency and generate positive cash flow[12]. - The company is focusing on international expansion and developing innovative pipeline products targeting blood cancers, solid tumors, and autoimmune diseases[28]. - The commercial team has been strengthened to enhance the commercialization of Benauda in China, focusing on training healthcare professionals and expanding insurance coverage[34]. Cost Management and Efficiency - Research and development expenses decreased by 31.6% to RMB 283.0 million, primarily due to optimization of R&D personnel and reduced employee benefits expenses[14]. - Sales expenses increased by 24.0% to RMB 140.4 million, driven by exploration of various commercialization methods[14]. - The company has implemented a cost reduction plan, including sourcing key raw materials from domestic suppliers, to enhance efficiency and control costs[29][35]. - The company has streamlined its organization to enhance sales revenue growth and operational efficiency[22]. Leadership and Governance - Liu Min was appointed as the CEO and Executive Director of the company on July 31, 2024, bringing over 25 years of experience in the pharmaceutical industry[113]. - The company has a strong leadership team with diverse backgrounds in the biopharmaceutical sector, including experience from major firms like Roche and Merck[115][118]. - The company has established a robust governance structure with independent directors providing oversight and strategic advice[120]. - The company is committed to regulatory compliance and effective corporate governance to support its growth initiatives[113]. Challenges and Risks - The company has incurred significant losses since its inception and expects to continue experiencing losses in the foreseeable future[137]. - The lengthy and costly clinical development process for biopharmaceutical products is fraught with uncertainty, and early research results may not predict future trial outcomes[137]. - Regulatory approval processes for candidate products are lengthy, time-consuming, and unpredictable, which could severely impact the company's business if approvals are delayed or not obtained[140]. - The company may face difficulties in production processes, especially in developing or scaling up production capacity for its cell therapy products[140]. Employee and Compensation - Total payroll costs for the year were RMB 227.7 million, down from RMB 323.6 million in the previous year, representing a 29.6% reduction[98]. - The employee distribution by function as of December 31, 2024, is as follows: Production 41.3%, R&D 25.3%, Commercial 17.4%, and Support Functions 12.8%[173]. - The company has adopted various incentive plans, including pre-IPO and post-IPO incentive plans[174].

Financial Performance - For the year ended December 31, 2024, the Group's revenue was approximately RMB128.6 million, an increase of approximately 41.3% compared to RMB91.0 million for the year ended December 31, 2023[19]. - Gross profit for the year ended December 31, 2024, was approximately RMB102.1 million, reflecting an increase of approximately 38.3% from RMB73.8 million for the year ended December 31, 2023[19]. - Profit attributable to owners of the Company for the year ended December 31, 2024, was approximately RMB31.9 million, a significant increase of approximately 94.5% compared to RMB16.4 million for the year ended December 31, 2023[19]. - The digital marketing services business achieved revenue of approximately RMB 24.1 million in 2024, a significant increase from approximately RMB 6.6 million in the same period in 2023, accounting for approximately 18.7% of the Group's total revenue[25][36]. - Revenue from mobile charges and mobile data usage top-up services increased from approximately RMB 84.4 million for the year ended December 31, 2023, to approximately RMB 104.5 million for the year ended December 31, 2024[24][27]. - Cost of revenue increased by approximately 42.4% to approximately RMB 23.5 million for the year ended December 31, 2024, from approximately RMB 16.5 million for the year ended December 31, 2023[37][39]. - Distribution and selling expenses rose by approximately 65.0% to approximately RMB 16.5 million for the year ended December 31, 2024, compared to approximately RMB 10.0 million for the year ended December 31, 2023[42]. - Other income (net) decreased by approximately 1.4% to approximately RMB 7.1 million for the year ended December 31, 2024, from approximately RMB 7.2 million for the year ended December 31, 2023[41]. - The overall gross profit margin slightly decreased to approximately 79.4% for the year ended December 31, 2024, from approximately 81.1% for the year ended December 31, 2023[40]. - Research and development expenses rose by approximately 58.2% to approximately RMB12.5 million for the year ended 31 December 2024, up from approximately RMB7.9 million for the year ended 31 December 2023[49]. - Finance costs increased by approximately 45.5% to approximately RMB3.2 million for the year ended December 31, 2024, compared to approximately RMB2.2 million for the year ended December 31, 2023[50]. Operational Efficiency and Strategy - The management optimized the cost structure and adopted more precise marketing strategies, contributing to the increase in overall gross profit[19]. - The transaction amount of digital marketing services increased significantly compared to the previous year, driving revenue growth[19]. - The Group continues to solidify its strengths in core business and deploy diversified digital equity business to drive revenue growth[18]. - The Group is implementing measures to enhance operational efficiency and maintain profitability amid a complex market environment[18]. - The overall macroeconomic recovery was slower than expected, yet the digital marketing services business showed strong growth[18]. - The Group's strategy includes reducing costs and enhancing efficiency to cope with market volatility[18]. - The Group expects the proportion of new businesses to continue increasing in the coming years as new customer projects are launched in 2025[26]. - The launch of the DeepSeek model in January 2025 is anticipated to enhance AI application popularity and drive business growth through strengthened technical solution capabilities[29][31]. Cash Flow and Financial Position - Net cash used in operating activities was approximately RMB123.7 million for the year ended December 31, 2024, compared to net cash from operating activities of approximately RMB117.1 million for the year ended December 31, 2023[62]. - As at 31 December 2024, cash and cash equivalents were approximately RMB50.8 million, down from approximately RMB89.8 million as at 31 December 2023[59]. - Total borrowings increased to approximately RMB122.0 million as at 31 December 2024, compared to approximately RMB30.0 million as at 31 December 2023[63]. - The current ratio was approximately 2.3 as at 31 December 2024, down from approximately 3.3 as at 31 December 2023[59]. - Net current assets increased to approximately RMB313.6 million as at 31 December 2024, compared to approximately RMB281.6 million as at 31 December 2023[59]. - Trade receivables from mobile top-up service decreased from approximately RMB132.8 million for the year ended 31 December 2023 to approximately RMB113.8 million for the year ended 31 December 2024, a decrease of about 14.3%[67]. - Trade receivables turnover days increased to 5.96 days for the year ended 31 December 2024 from 5.77 days for the year ended 31 December 2023[68]. - The amount of impairment loss recognized for trade receivables increased from approximately RMB66,000 for the year ended 31 December 2023 to approximately RMB1.3 million for the year ended 31 December 2024[69]. - The gearing ratio increased to approximately 39.5% as at 31 December 2024 from approximately 10.7% as at 31 December 2023 due to increased borrowings[74]. - Capital expenditures remained stable at approximately RMB1.5 million for the years ended 31 December 2023 and 2024[75]. - The Group did not have any significant capital commitments or material investments as at 31 December 2024[83][89]. Human Resources and Corporate Governance - The Group had a total of 156 full-time employees as of December 31, 2024, an increase from 124 employees as of December 31, 2023[98]. - Total staff costs, including Directors' remuneration, were approximately RMB 51.8 million for the year ended December 31, 2024, compared to approximately RMB 36.6 million for the year ended December 31, 2023, representing an increase of 41.5%[98]. - The Directors did not recommend the payment or declaration of a final dividend for the year ended December 31, 2024, consistent with the previous year[97]. - The Group emphasizes competitive remuneration and has been actively recruiting and promoting employees based on merit and development potential[98]. - Training opportunities are provided to employees to enhance their qualifications and equip them with necessary skills[98]. - The Group's strategic planning and management are overseen by its honorary chairman, who has over 18 years of experience in information technology-related industries[107]. - The Group's executive team includes individuals with extensive backgrounds in telecommunications and finance, contributing to its strategic direction[101][102]. - The Group has been focusing on performance-based remuneration packages, including share options for eligible participants[98]. - The Group's management believes that employees are one of its most important assets, highlighting the importance of human capital in its operations[98]. Board and Governance Structure - The Company has complied with all applicable code provisions of the Corporate Governance Code for the year ended December 31, 2024[136]. - The Board emphasizes the importance of good corporate governance to safeguard shareholder interests and enhance accountability[135]. - All directors confirmed compliance with the Model Code for Securities Transactions during the year ended December 31, 2024[137]. - The Board currently comprises eight Directors, including three executive Directors, two non-executive Directors, and three independent non-executive Directors[143]. - The roles of Chairman and Chief Executive Officer are separated, with Mr. Zhou Jinhuang as Chairman and Mr. Guan Heng as CEO, ensuring clear division of responsibilities[148]. - The Company has complied with the Listing Rules regarding the appointment of independent non-executive Directors, maintaining at least three such Directors on the Board[153]. - The Board is responsible for the leadership and control of the Company, overseeing strategic decisions and performance, while delegating day-to-day management to the CEO and senior management[155]. - The Company adheres to high standards of corporate governance, continuously optimizing its governance structure to enhance its governance level[140]. - The Company actively fulfills its social responsibilities, aiming for high-quality and sustainable development to create value for shareholders, customers, employees, and society[142]. - The Board has established various committees to delegate responsibilities and ensure effective governance[155]. - The Company has received written annual confirmations of independence from all independent non-executive Directors, affirming their compliance with independence guidelines[154]. - The Company emphasizes the importance of corporate culture as a support for long-term development and good corporate governance[138]. - The Board comprises eight Directors, ensuring a diverse mix of gender, age, background, knowledge, and skills[168]. - As of December 31, 2024, the Board consists of seven male directors and one female director, reflecting a commitment to gender diversity[171]. - The Group's workforce gender ratio is 50% male and 50% female as of December 31, 2024, indicating a balanced approach to diversity[172]. - The Company has adopted a Board Diversity Policy to enhance diversity through various measurable factors, including gender, age, and professional qualifications[165]. - The Nomination Committee will review the Board diversity policy annually to ensure its effectiveness[167]. - The Board meets at least four times a year, with advance notice of at least 14 days for regular meetings to ensure all Directors can attend[174]. - Directors have access to all Company information and can seek independent professional advice at the Company's expense[161]. - The Company has arranged appropriate insurance cover for Directors' liabilities in respect of legal actions against them[163]. - Minutes of board meetings are kept in detail, including decisions made and concerns raised by Directors[176]. - The Articles of Association require Directors to abstain from voting on transactions in which they have a material interest[177]. - The Company held an annual general meeting and an extraordinary general meeting during the year ended 31 December 2024[183]. - All Directors attended training sessions on duties and obligations of directors of companies listed on the Stock Exchange in 2024[187]. - Each executive Director has a service contract with a specific term of three years, subject to termination with three months' notice[195]. - The Chairman met with non-executive Directors and independent non-executive Directors without executive Directors present to discuss pertinent issues[184]. - All Directors are subject to retirement by rotation at least once every three years[196]. - The Nomination Committee is responsible for reviewing Board composition and monitoring the appointment and succession planning of Directors[197].

Investment in New Energy - In 2024, total investment in new energy projects in China amounted to RMB 3.7 trillion, a year-on-year decrease of 53.8%[13]. - Investment in wind power and photovoltaic power reached RMB 1.7 trillion, accounting for 46% of the total investment in the new energy sector[15]. - The overall trend for wind power, solar power, and energy storage investments remains steady and positive[17]. - The Group plans to focus on East China, Southwestern China, South China, and Northwestern China for future investments, considering factors like electricity market maturity and resource availability[30]. - The Group's new energy business is supported by substantial shareholders, enhancing resource sharing and business synergies[21]. - The Group is actively responding to policy changes and optimizing its management model to explore diversified investment opportunities in renewable energy[20]. Wind and Solar Power Capacity - The annual newly installed wind power and photovoltaic power generation capacity achieved the 2030 planning target six years ahead of schedule[16]. - Global installed wind power generation capacity reached 136 GW in 2024, indicating a rising demand for wind power[12]. - In 2024, the Group added 840MW of new wind and solar power grid-connected capacity, primarily in economically developed regions such as Guangdong and Jiangsu[22]. - In 2024, newly installed photovoltaic power generation output in China reached 278GW, a year-on-year increase of 28%, with a total installed capacity of 886GW, representing a 45% increase year-on-year[66]. - The newly installed wind power capacity in China reached 79.8GW, a year-on-year increase of 6%, with a total grid-connected capacity of 521GW, up 18% from the previous year[68][70]. Energy Storage Developments - The demand for energy storage has increased significantly, becoming a key solution for new energy consumption challenges[12]. - The Group achieved a grid-connected energy storage capacity of 307MWh, including a 100MW/200MWh independent energy storage station in Yunnan and a 14.9MW/59.8MWh industrial and commercial energy storage station in Shenzhen[22]. - The cumulative installed capacity of new energy storage projects in China reached 73.76GW by the end of 2024, reflecting a growth of over 130% compared to the end of 2023[73][75]. - The price of 2-hour energy storage systems dropped from RMB1.6/Wh in early 2023 to around RMB0.5/Wh, and energy storage battery cell prices fell from RMB0.95/Wh to approximately RMB0.3 to 0.35/Wh[74][75]. - The energy storage business is focusing on economically viable core areas, with a development and reserve scale exceeding 50MWh in Jiangsu and Shaanxi regions[101]. Financial Performance - Revenue for the company decreased by approximately 16.9% year-on-year to RMB1,295,563,000, while profit attributable to owners increased by 15.6% to RMB114,136,000[81]. - For the year ended December 31, 2024, the Group's revenue decreased by approximately 16.9% to RMB 1,295,563,000 compared to RMB 1,559,437,000 in 2023, while profit attributable to equity holders increased by approximately 15.6% to RMB 114,136,000[84]. - The EPC and consulting segment's revenue from external customers decreased by approximately 49.5% to RMB 517,228,000, primarily due to strategic shifts and a downturn in the real estate sector[85]. - The Group's power generation segment recorded a revenue growth of approximately 48.8% to RMB 756,231,000, with segment profit increasing by approximately 28% to RMB 349,908,000[96]. - Profit for the year increased by approximately 12.9% to RMB119,901,000, compared to RMB106,157,000 in 2023[192]. Strategic Initiatives and Future Outlook - The Group is proactively adjusting its strategic development and investment direction in response to industry changes and competition pressures[17]. - The Group aims to strengthen the operation and management of power stations to enhance operational efficiency and ensure safe production[33]. - The Group anticipates challenges and opportunities in upgrading distribution networks and improving grid connection capacity due to increasing installed capacity of new energy[29]. - The Group will continue to innovate and optimize engineering project quality to contribute to national new energy development[34]. - The Group will focus on stability, deepening reform and innovation, and optimizing the main responsibility of investment, construction, and operation of new energy power stations[176]. Environmental and Social Responsibility - The Group adheres to environmental protection principles, actively developing green energy and minimizing pollution[145]. - The Group has established a quality, environmental, and occupational health and safety management system in accordance with relevant standards[152]. - The Group is committed to creating a safe working environment and has obtained GB/T45001-2020/ISO 45001-2018 certification for occupational health and safety management[159]. - The Group actively integrates sustainable development into all aspects of operations and business decisions through the ESG Working Group[151]. - The Group has implemented customer property management policies to protect customer privacy and comply with relevant laws[164].

Financial Performance - Revenue increased by 11.7% year-on-year to HKD 5,385.7 million[11] - Profit attributable to owners rose by 16.7% year-on-year to HKD 383.9 million[11] - Gross profit margin improved to 19.5%, up 3.7% from the previous year[11] - The gross profit margin improved from 18.8% to 19.5% year-on-year, with a pre-tax profit increase of 10.1% to HKD 427.0 million[20] - The company's net profit attributable to shareholders rose by 16.7% to HKD 383.9 million[20] - The gross profit for the year ended December 31, 2024, was HKD 1,048.2 million, representing a 15.5% increase compared to the previous year[45] - The total comprehensive income attributable to the company's owners increased by 14.0% to HKD 346.6 million for the year ended December 31, 2024[54] - The company's total revenue increased by 11.7% from HKD 4,823.5 million for the year ended December 31, 2023, to HKD 5,385.7 million for the year ended December 31, 2024[37] Segment Performance - New energy segment revenue grew by 37.3% year-on-year, driven by the global trend of "oil-to-electric" transition[16] - Consumer power segment revenue slightly declined by 5.8% due to slow retail market recovery[16] - The industrial power division's revenue increased by 20.5%, accounting for 37.3% of total revenue, driven by strong demand for high-performance charging solutions[23] - The new energy division achieved a revenue growth of 37.3%, representing 19.5% of total revenue, primarily from energy storage and automotive electronics[24] - Revenue from telecommunications equipment decreased by 5.8% to HKD 1,455.9 million due to a slowdown in business from Chinese smartphone manufacturers[40] Dividends and Payouts - The company maintained a stable dividend payout ratio of 30.0% for the year[14] - The board proposed a final dividend of HKD 0.06 per share, with a total dividend for the year reaching HKD 0.112 per share, maintaining a payout ratio of 30.0%[21] - The company proposed a final dividend of HKD 0.06 per share for the year ending December 31, 2024, down from HKD 0.096 in 2023[170] Operational Efficiency - The average inventory turnover period decreased to 74 days, down 2.6% from the previous year[12] - Operating profit margin decreased to 7.8%, down 3.7% from the previous year[11] - Administrative expenses rose by 21.6% to HKD 506.2 million, primarily due to hiring more engineers and professionals for new business support[50] Market Expansion and Product Development - The company is optimistic about future demand for energy storage products and plans to expand its green power product portfolio[16] - The company is actively expanding its global footprint, particularly in Africa and Southeast Asia, to promote solar products and green power solutions[17] - The company plans to launch more high-power electric vehicle charging products to meet growing market demand[20] - The company is focusing on developing smart chargers and controllers to align with the global trend towards low-carbon and zero-carbon products[24] - The group aims to enhance its green transformation and has initiated a green factory project in the Huizhou industrial park to reduce carbon emissions and improve product environmental performance[30] Corporate Governance - The company emphasizes high ethical standards and aims to provide high-quality and reliable products and services to create value for stakeholders[88] - The board is committed to maintaining good corporate governance standards to protect shareholder interests and enhance company value[89] - The company has established a corporate governance framework in accordance with the Stock Exchange's listing rules to strengthen board capabilities[89] - The board consists of independent non-executive directors with extensive experience in various industries, enhancing oversight of the group's management[75][78][79] - The company has deviated from the corporate governance code, specifically clause C.2.1, where the roles of Chairman and CEO are held by the same individual, Mr. Hong[98] Risk Management and Compliance - The board is responsible for risk management and internal control systems, which are designed to manage risks rather than eliminate them[144] - The company conducts annual self-assessments in various departments to ensure compliance with monitoring policies and identify potential risks[144] - The independent auditor's report for the financial statements is included in the annual report, confirming the company's commitment to transparency[143] Employee and Director Matters - The company employed around 7,600 full-time employees as of December 31, 2024, an increase from approximately 7,200 employees in 2023[66] - The company provides training and professional development for directors as needed, ensuring they are informed about regulatory changes[108] - The company ensures that the remuneration of employees, including directors and senior management, is determined based on skills, knowledge, responsibilities, and participation in company affairs[129] Shareholder Communication and Meetings - The company has a shareholder communication policy to ensure timely and fair access to information for shareholders, facilitating informed participation in company affairs[159] - The company will hold its next annual general meeting on June 13, 2025, where three directors will be up for re-election[105] - The company will publish the results of voting on resolutions presented at shareholder meetings on its website and the stock exchange's website after each meeting[151]

Financial Performance - Operating revenue for 2024 reached RMB 658,798,000, a slight increase of 0.3% compared to RMB 653,131,000 in 2023[11] - Profit attributable to equity holders was RMB 50,485,000, representing an increase of 8.8% from RMB 46,451,000 in the previous year[11] - Total assets grew to RMB 3,504,127,000, up from RMB 3,300,657,000 in 2023, marking a 6.2% increase[11] - Cash and bank deposits stood at RMB 147,893,000, a slight increase from RMB 142,427,000 in the previous year[11] - The company reported a year-end balance of RMB 767 million for real estate mortgage loans, a decrease from RMB 903 million in the previous year, marking a decline of 15.1%[27] - The year-end balance for movable property mortgage loans was RMB 172 million, with interest income rising to RMB 32,076 thousand, an increase from RMB 26,005 thousand in 2023, indicating a growth of 23.2%[28] - The company reported a pre-tax profit of RMB 62,094 thousand for the Ecological Finance Division in 2024, an increase from RMB 36,166 thousand in 2023, due to rising interest income from special asset management[73] - The company achieved a net foreign exchange gain of RMB 19 thousand for the year ending December 31, 2024, down from RMB 223 thousand in the previous year[95] Business Strategy and Development - The company aims to enhance its risk management and optimize asset quality while expanding its business in the micro and small enterprise sector[17] - In 2025, the company plans to focus on four core strategies: optimizing existing business, preventing risks, expanding new business, and enhancing management efficiency[18] - The company is committed to becoming a leading comprehensive financial service provider in China, offering a diverse range of services including pawn, technology micro-loans, and commercial factoring[4] - The company has successfully innovated in stock pledge business, achieving breakthroughs in its operations[17] - The company plans to enhance liquidity management and dynamically adjust credit policies for real estate mortgage loans to maintain reasonable risk-adjusted returns in 2024[27] - The company aims to develop services for existing customers in movable property mortgage loans while closely monitoring the art market price trends[29] - The company has expanded its business coverage to major cities including Suzhou, Chengdu, Wuhan, Hefei, Wuxi, Changsha, Nanchang, and Fuzhou, positioning itself as a leading provider of inclusive financial services in China[23] - The company plans to focus on providing liquidity support for large, stable assets and enhance cooperation with peers in the technology micro-loan business[38] Loan and Mortgage Performance - The total loans granted to customers increased to RMB 2,517,986,000, up from RMB 2,309,546,000 in 2023, reflecting a growth of 9.0%[11] - The total amount of new real estate mortgage loans issued was RMB 401 million in 2024, down from RMB 569 million in 2023, representing a decline of 29.6%[24] - The interest income from real estate mortgage loans increased to RMB 101,506 thousand in 2024, up from RMB 98,427 thousand in 2023, reflecting a growth of 2.2%[24] - The total number of new loans issued in the technology micro-loan business was 104, with a total loan amount of RMB 635 million, compared to 162 loans and RMB 628 million in the previous year[32] - The interest income from the technology micro-loan business was RMB 60,104 thousand, an increase from RMB 42,830 thousand in the previous year, driven by business expansion in Jiangsu Province[32] - The total number of new loans issued in the transfer loan fund business was 1,143, with a total loan amount of RMB 4,337 million, compared to 972 loans and RMB 4,640 million in the previous year[38] - The interest income from the transfer loan fund business was RMB 5,093 thousand, a decrease from RMB 8,776 thousand in the previous year[38] Risk Management - The company faces various risks in its loan businesses, including regulatory policy changes, credit risk, and liquidity risk[30] - The company has implemented comprehensive internal control measures for the refinancing fund business, including strict post-loan management and real-time risk monitoring[43] - The company has established a risk management framework, with the Chief Risk Officer responsible for risk control and asset disposal[143] - The main risks faced by the factoring and financing leasing businesses include debtor credit risk, accounts receivable risk, and regulatory policy changes[51][56] Investment and Acquisitions - The company completed the acquisition of Guangda Education with a restructuring investment of RMB 196.0 million, and the fair value of the investment as of December 31, 2024, is RMB 217.9 million, representing 6.22% of total assets[102] - The company successfully acquired Zhongzhu Plaza for RMB 88.4 million on January 16, 2024, and will receive RMB 96.67 million for the sale of 95% equity in Huifang Zhongde[103] - The company has no significant investment or major capital asset acquisition plans beyond previously disclosed capital commitments, but will continue to seek new business development opportunities[119] Corporate Governance - The management team is led by Chairman Wu Min, who joined the group in January 2011, overseeing operations and decision-making[146] - The audit committee consists of three members, including independent non-executive directors, responsible for reviewing financial information and risk management[149] - The remuneration committee is tasked with reviewing the compensation of individual directors and senior management, ensuring transparency in the remuneration policy[150] - The nomination committee evaluates the composition of the board and provides recommendations for the appointment and succession of directors[151] - The company has established compliance procedures to ensure adherence to laws and regulations that significantly impact its operations[164] Employee and Director Compensation - Total remuneration for directors, including salaries and bonuses, was approximately RMB 5,978,000 for the year ending December 31, 2024, compared to RMB 6,280,000 in 2023[155] - The highest-paid five individuals in the group, including four executive directors, received a total of RMB 540,000 after deducting the salaries of the four executive directors from the total[155] - The total employee compensation and benefits for the year were approximately RMB 44.089 million, an increase of about RMB 3.333 million compared to the previous year[116] - The group had 156 full-time employees as of December 31, 2024, a decrease of 4 from 160 employees in the previous year[116] Future Outlook - The company plans to propose a final dividend of HKD 0.03 per share, totaling HKD 32.7 million (approximately RMB 30.3 million) for the fiscal year ending December 31, 2024[120] - The company aims to enhance asset safety and focus on post-investment management in equity investment business due to market cooling[63] - The management discussion and analysis section provides insights into future business development strategies and market expansion plans[162]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported a total revenue of approximately RMB 1,025,700,000, representing a year-over-year increase of about 7.2% compared to RMB 956,757,000 in 2023[5] - The company's profit attributable to shareholders was approximately RMB 63,500,000, which reflects a decline of about 9.8% from RMB 70,426,000 in the previous year[5] - The group recorded a consolidated revenue of RMB 1,025,700,000 for the year ended December 31, 2024, representing an increase of approximately 7.2% compared to RMB 956,800,000 in 2023[21] - Gross profit for the year was RMB 400,800,000, an increase of approximately RMB 51,100,000 or about 14.6% from RMB 349,700,000 in 2023, with a gross margin of approximately 39.1%[21] - Net profit attributable to shareholders decreased by approximately RMB 6,900,000 or about 9.8% to RMB 63,500,000 compared to RMB 70,400,000 in 2023[22] - The manufacturing and trading of soft furniture business achieved a total revenue of approximately RMB 551,900,000, up about 4.2% from RMB 529,700,000 in the previous year[24] - The property development segment generated revenue of RMB 327,200,000, an increase of approximately 8.7% from RMB 300,900,000 in 2023, driven by increased property deliveries[25] Operational Strategy - The company has shifted more sofa manufacturing capacity from mainland China to Cambodia to mitigate the impact of increased tariffs on imports from China, aiming to strengthen exports to Europe and the United States[5] - The company is actively developing the National Public Zhejiang Economic Zone in Cambodia, which has entered the full construction phase and has attracted nearly 100 enterprises to sign contracts for land and factory leasing[6] - The group expanded its production base in Cambodia, transferring major U.S. customer orders to mitigate tariff impacts and enhance competitiveness in the soft furniture market[24] - The company is focusing on optimizing its real estate project structure in China through sales acceleration and potential partnerships[6] - The company continues to explore opportunities in international power energy development, particularly in developing countries[6] Financial Health - The debt-to-equity ratio improved to 17.2% in 2024 from 19.1% in 2023, indicating a reduction in financial leverage[10] - The company reported a current ratio of 242.0% in 2024, down from 256.9% in 2023, suggesting a decrease in liquidity[10] - The total assets of the company as of December 31, 2024, were RMB 6,292,614,000, an increase from RMB 5,982,778,000 in 2023[12] - The company has reported cash and cash equivalents of RMB 301,685,000 as of December 31, 2024, a decrease from RMB 567,542,000 in 2023[12] - Operating expenses decreased to approximately RMB 62,200,000, down 10.9% from RMB 69,800,000 in the previous year, with the sales and distribution cost ratio dropping to 6.0% from 7.3%[32] Market Expansion - User data indicates a rise in active users to 500,000, up from 400,000 in the previous year, marking a 25% increase[14] - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by the end of the next fiscal year[17] - A strategic acquisition of a local competitor is anticipated to enhance production capabilities and increase market penetration[18] - New product launches are expected to contribute an additional 200 million in revenue, with a focus on innovative leather goods[16] Corporate Governance - The company has established an Audit Committee to review and supervise financial reports and internal controls, chaired by Mr. Zhou Xiaodong[124] - The company is committed to maintaining high standards of corporate governance, having complied with the corporate governance code except for the separation of the roles of Chairman and CEO[132] - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors for the year ending December 31, 2024[134] - The board of directors consists of both executive and independent non-executive members, with terms of three years for current directors[79] Employee Relations - The group employed approximately 2,431 full-time employees as of December 31, 2024, compared to 2,285 in 2023, with total employee compensation expenses around RMB 177,000,000, accounting for 17.3% of operating income[47] - The company invested in employee training and development to enhance professional skills and promote career growth[74] - The company provides a safe and healthy work environment, offering medical insurance benefits and health awareness programs for employees[75] Environmental, Social, and Governance (ESG) - The company emphasizes building long-term trust relationships with industry and community stakeholders, as outlined in its ninth Environmental, Social, and Governance (ESG) report[164] - The ESG report covers the period from January 1, 2024, to December 31, 2024, focusing on the performance of the furniture manufacturing business in Zhejiang and property development in Hainan[165] - The company has implemented a robust risk management system to identify and assess significant ESG-related risks and opportunities[174] - Key ESG priorities identified include greenhouse gas emissions, carbon reduction, and ecosystem transformation, with waste gas emissions ranked as the most critical issue[183] Compliance and Risk Management - The company has established a robust risk management and internal control system, which is reviewed annually by the board to ensure effective operation and safeguard shareholder investments[156] - The internal control department conducts monthly independent audits to test the effectiveness of internal control procedures, with a comprehensive annual audit to assess risk management[157] - The company has confirmed compliance with all disclosure requirements under the Listing Rules regarding related party transactions[104] Shareholder Information - The company does not recommend any final dividend for the year ending December 31, 2024, consistent with the previous year[61] - The company has no service contracts with any directors that cannot be terminated within one year without compensation[78] - Major shareholder Joyview holds 949,044,584 shares, representing 65.76% of the issued share capital as of December 31, 2024[89]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of approximately MOP 182.0 million, an increase of about MOP 41.4 million or approximately 29.4% compared to the same period in 2023[12] - The gross profit for the fiscal year was approximately MOP 26.9 million, significantly up from MOP 8.1 million in the previous year, indicating a substantial improvement in financial performance[12] - As of December 31, 2024, the company's distributable reserves amounted to MOP 2.0 million, down from MOP 17.0 million in 2023[25] - The company does not recommend the payment of any final dividend for the fiscal year ending December 31, 2024, consistent with the previous year[24] Business Strategy and Development - The company plans to diversify its business portfolio through the acquisition of a company holding licenses for securities advisory and asset management, aiming to develop new revenue sources[13] - The company is exploring opportunities in the construction materials trade, driven by the accelerating infrastructure development in Macau and Hong Kong, which is expected to create strong demand for construction materials[14] - The company remains committed to leveraging business relationships and resources to implement new business strategies, actively seeking opportunities through strategic acquisitions and partnerships with globally recognized firms[16] - The company announced the establishment of a new investment company in Hong Kong to diversify and expand its business portfolio[169] - The company aims to continue seeking opportunities through mergers and acquisitions and collaborations with globally recognized enterprises to expand revenue sources[169] Shareholder Information - As of December 31, 2024, Mr. Liu Chao-sheng holds 390,000,000 shares, representing approximately 65% of the company[65] - Mr. Ye Jianhua holds 60,000,000 shares, representing approximately 10% of the company[65] - Major shareholder Liu Tai holds 390,000,000 shares, representing 65.0% of the company's issued share capital[69] - Laos International, owned by the company's controlling shareholder, holds 255,000,000 shares, accounting for 42.5%[69] - WHM Holdings, fully owned by Liu Tai, possesses 135,000,000 shares, which is 22.5% of the total[69] Corporate Governance - The board consists of eight members, including five executive directors and three independent non-executive directors[102] - The board consists of at least three independent non-executive directors, ensuring a balanced composition to provide independent opinions[105] - The board has held four meetings from January 1, 2024, to December 31, 2024, with all directors attending all meetings[113][115] - The company has established three committees (audit, remuneration, and nomination) to oversee specific matters, with most members being independent non-executive directors[127] - The independent non-executive directors have confirmed their independence annually, and the company believes all such directors are independent individuals[119] Risk Management and Internal Controls - The company has adopted a three-tier risk management approach to identify, assess, and manage various risks[146] - An internal control officer has been hired, and an independent third-party internal control consultant is engaged annually to review the internal control system[146] - The board and audit committee reported that the risk management and internal control systems are effective and adequate as of December 31, 2024[147] - The company has implemented monitoring procedures to strictly prohibit unauthorized access and use of insider information[148] Environmental, Social, and Governance (ESG) Initiatives - The group is committed to sustainable growth, balancing financial performance with environmental, social, and governance (ESG) management[99] - The company integrates environmental, social, and governance (ESG) principles into its operations, emphasizing stakeholder and community relationships[168] - The company has implemented a risk management policy to identify and allocate resources effectively for environmental, social, and governance risks[184] - The company has established a clear governance framework for its ESG strategy, detailing the roles and responsibilities of key management personnel[177] - The company aims to enhance its environmental management system in accordance with international standards to address environmental responsibilities and challenges[182] Employee and Director Compensation - The company maintains a fair and equitable compensation policy for all employees, with performance evaluations conducted annually[82] - The company established a Compensation Committee on August 17, 2018, to recommend overall compensation policies for all directors and senior management[131] - As of December 31, 2024, there is 1 senior management member earning between HKD 0 to 1,000,000 and 1 member earning between HKD 1,500,001 to 2,000,000[131] Compliance and Legal Matters - The company has adhered to all relevant regulations and has not identified any legal violations in 2024[199] - The company confirmed compliance with the non-competition agreement by all covenantors for the year ending December 31, 2024[76] - No related party transactions were established under the Listing Rules that were not exempted during the year[85] Awards and Recognition - During the reporting period, the company received two awards for its commitment to corporate social responsibility and sustainable development[187]

Financial Performance - The company's revenue increased by 33% to HKD 182,756,000 for the year ended December 31, 2024, compared to HKD 137,164,000 in 2023[8] - Gross profit rose by 75% to HKD 16,270,000, up from HKD 9,313,000 in the previous year[8] - The company recorded a loss of HKD 5,244,000 for the year, an improvement from a loss of HKD 12,766,000 in 2023[8] - Loss attributable to owners of the company was HKD 8,125,000, compared to HKD 11,313,000 in the prior year[13] - Basic loss per share was HKD 0.45, down from HKD 0.62 in 2023[13] - Revenue from the metal sales segment increased by 39% to HKD 93,706,000, while it reported a segment loss of HKD 621,000[15] - The electronic device solutions segment saw a revenue increase of 28% to HKD 89,050,000, with a segment profit of HKD 5,863,000, recovering from a segment loss of HKD 2,733,000 in 2023[17] Business Development and Strategy - The company continues to develop its property project in Sydney, Australia, to enhance growth prospects[8] - The company is cautiously exploring business development opportunities amid global economic challenges and geopolitical tensions[9] - The company plans to continue enhancing its sales capabilities and exploring product diversification opportunities while developing its project in Sydney, Australia[28] - The company has begun discussions with potential operators regarding healthcare and medical facilities, with the final planning phase expected to detail the design and operation of these facilities[23] Foreign Exchange and Financial Risks - The overall increase in foreign exchange losses was attributed to the depreciation of the Renminbi and Australian Dollar against the Hong Kong Dollar[14] - The group is closely monitoring foreign exchange risks and plans to take appropriate measures if necessary[40] - The group is focusing on diversifying its customer and supplier base to mitigate reliance risks[35] Property Development - The property development segment in Australia recorded a loss of HKD 488,000 for the year ending December 31, 2024, a decrease from a loss of HKD 1,709,000 in 2023, primarily due to effective cost control measures[18] - The planning proposal for the land in Canterbury Bankstown has been approved, allowing the company to proceed with development, which is expected to lead to a significant increase in overall building area from a height limit of 12 meters to 45.5 meters[21] Investment and Assets - The fair value of the investment in Zhejiang Energy Jinjiang increased to HKD 52,955,000 as of December 31, 2024, representing 13% of the group's total assets, up from 9% in 2023, with a fair value gain of HKD 16,078,000 during the year[25] - The company is optimistic about the prospects of Zhejiang Energy Jinjiang, which includes power and steam production, waste-to-energy operations, and energy management contracting[27] Financial Position and Ratios - As of December 31, 2024, the group's current assets amounted to HKD 304,782,000, a decrease from HKD 322,589,000 as of December 31, 2023[36] - The group's current ratio was maintained at a solid level of 7.5 times, compared to 7.8 times as of December 31, 2023[36] - The group's debt-to-equity ratio was low at 0.04% as of December 31, 2024, down from 0.47% as of December 31, 2023[37] Employee and Governance - The total employee cost for the year was HKD 20,181,000, a slight decrease from HKD 20,753,000 in the previous year[45] - The management team includes experienced executives with diverse backgrounds in engineering, economics, and business management[49][50][53] - The company encourages fair competition and upholds high ethical standards in procurement and service hiring[47] - The company emphasizes a commitment to employee development and sustainable growth strategies[114] Environmental and Sustainability Efforts - The company emphasizes environmental protection as a key focus, implementing resource conservation and best practices in operations[46] - The company aims to achieve "carbon peak by 2030 and carbon neutrality by 2060" as part of its environmental goals[177] - The company has implemented measures to reduce greenhouse gas emissions from vehicles, including purchasing electric vehicles and optimizing routes[184] - The company has implemented various energy-saving measures, including only activating air conditioning when indoor temperatures exceed 28 degrees Celsius[194] Corporate Governance - The board consists of six directors, including three executive directors and three independent non-executive directors[116] - The company has established four board committees to enhance governance, including the audit, nomination, remuneration, and credit committees[125] - The company has adopted a governance code that requires independent non-executive directors to be appointed for a term of three years, subject to re-election[124] - The board has conducted an annual review of the effectiveness of the internal control system, which includes operational, financial, compliance monitoring, and risk management functions, and found no significant deficiencies[146] Shareholder Relations - The company allows shareholders to propose matters for consideration at the annual general meeting, ensuring their rights are upheld[149] - The company considers declaring and paying dividends based on profitability and operational stability, with no guarantee of dividends in any specific period[156] ESG Reporting - The environmental, social, and governance (ESG) report covers the company's sustainable development activities and challenges for the fiscal year ending December 31, 2024[163] - The ESG report is prepared in accordance with the Stock Exchange's guidelines, ensuring consistency and transparency in reporting[164] - The company has implemented policies to enhance data collection and monitoring of ESG performance, aiming to improve disclosure levels[162]