Financial Performance - In 2024, net profit attributable to equity holders increased by 112.8% to approximately RMB 806.16 million, while adjusted net profit rose by 59.2% to approximately RMB 586.17 million[12]. - Total revenue for 2024 reached RMB 3.34 billion, representing a year-on-year growth of 23.9%, driven by a 57.1% increase in revenue from image and design products to RMB 2.09 billion[13]. - Operating profit before tax for the year was RMB 822.85 million, compared to RMB 438.09 million in 2023[27]. - The company reported a net profit of RMB 806.16 million for the year, up from RMB 366.42 million in 2023[27]. - Adjusted net profit for the fiscal year ending December 31, 2024, increased to RMB 806.2 million, compared to RMB 366.4 million in the previous year, driven by strong growth in core business and cryptocurrency sales[51]. - Adjusted net profit attributable to equity holders of the parent for the fiscal year ending December 31, 2024, was RMB 586.2 million, up from RMB 368.3 million in the previous year, reflecting growth in high-margin core business[53]. User Engagement - Monthly Active Users (MAU) reached approximately 266.82 million by December 2024, a 6.7% increase year-on-year, with MAU from markets outside mainland China growing by 21.7% to 94.51 million[12]. - The number of monthly active users (MAU) outside mainland China grew by 22% year-on-year to 94.51 million, accounting for 36% of total MAU[21]. - The AI video editing tool Wink achieved a MAU of approximately 30 million within two years of its launch[20]. - The AI-driven Meitu Design Studio's paid subscription users reached 1.13 million as of December 31, 2024, up from 870,000 in 2023[22]. Revenue Breakdown - Revenue from AI-driven productivity tools, specifically Meitu Design Studio, doubled year-on-year to approximately RMB 200 million in 2024[12]. - Revenue from advertising increased by 12.5% to RMB 853.47 million, while revenue from beauty solutions decreased by 32.4% to RMB 384.57 million[13]. - Revenue from image and design products accounted for 62.4% of total revenue in 2024, up from 49.2% in 2023[31]. - The advertising business saw a revenue increase of 12.5% year-on-year, totaling RMB 853.5 million for the year ending December 31, 2024, compared to RMB 758.8 million for the previous year[38]. Cost and Expenses - The overall gross margin improved to 68.7%, up 7.2 percentage points from the previous year, due to the increasing contribution of high-margin image and design products[13]. - Operating costs increased to RMB 1.0466 billion, a 0.6% rise from RMB 1.0399 billion, with the largest cost being paid channel sharing, which grew by 46.4% to approximately RMB 430 million[40]. - Sales and marketing expenses rose by 12.9% year-on-year to RMB 483.4 million, driven by increased marketing spending for imaging and design products domestically and internationally[44]. - Research and development expenses increased by 43.3% year-on-year to RMB 910.7 million, primarily due to costs associated with generative AI training[43]. Strategic Investments and Acquisitions - The company agreed to acquire all issued shares of Zcool for a total consideration of up to $39.64 million, with part of the payment being in shares and the remainder in cash[85]. - The completion of the Zcool acquisition occurred on March 27, 2024, making Zcool an indirect wholly-owned subsidiary, with its financial performance consolidated into the group's financial statements[87]. - The company plans to continue seeking strategic investment opportunities to enhance synergies in technology development, product research, and market expansion[83]. Cryptocurrency and Financial Assets - The company recognized an impairment loss reversal of RMB 68.1 million for purchased cryptocurrencies, specifically Bitcoin, for the fiscal year ending December 31, 2024[46]. - Total cash proceeds from the sale of approximately 31,000 units of Ethereum and 940 units of Bitcoin amounted to approximately USD 100 million and USD 80 million, respectively, resulting in a profit of USD 79.63 million (approximately RMB 571 million)[46]. - The company held approximately 31,000 units of Ethereum and 940 units of Bitcoin, selling them for total proceeds of approximately $100 million and $80 million respectively, representing about 10.20% and 8.16% of total assets as of December 31, 2024[77]. Dividends and Shareholder Returns - The proposed final dividend for the year ended December 31, 2024, is HKD 0.0552 per share, totaling approximately HKD 251.8 million (equivalent to about RMB 234.2 million), up from HKD 0.036 per share in 2023[66]. - The company plans to distribute a special dividend of HKD 0.109 per share, amounting to approximately HKD 496.8 million (equivalent to about RMB 458.6 million), subject to shareholder approval at the special general meeting on February 11, 2025[115]. - The company will use 80% of the net proceeds from cryptocurrency sales for special dividends to shareholders, with the remaining funds allocated for general operating expenses[77]. Employee and Management Information - The company employed 2,416 full-time employees as of December 31, 2024, an increase from 1,968 employees in 2023, representing a growth of approximately 22.7%[73]. - The company’s executive director and CEO received a discretionary bonus totaling RMB 1,923,000 for the year ending December 31, 2024[128]. Share Options and Incentive Plans - The total number of shares available for the pre-IPO employee stock option plan is limited to 116,959,070 shares, with 12,051,469 shares of unexercised options granted to eligible participants as of December 31, 2024[132]. - The company has adopted a post-IPO stock option plan, which was terminated at the shareholders' annual general meeting on June 5, 2024, with no further options to be presented or granted under this plan[141]. - The 2024 Share Award Plan was adopted based on the resolution passed at the company's annual general meeting on June 5, 2024[165]. - A total of 33,035,856 shares were granted under the 2024 share incentive plan, with 4,500,000 shares allocated to the chairman and key executives[180].

Financial Performance - The company reported a revenue of HKD 28,520,000 for the year ending December 31, 2024, compared to HKD 28,363,000 in 2023, indicating a slight increase of 0.55%[10] - The net loss attributable to ordinary shareholders was HKD 46,133,000 for 2024, a significant reduction from HKD 482,140,000 in 2023[10] - Adjusted EBITDA for the year was HKD 1,612,000, down from HKD 6,060,000 in the previous year, reflecting a decline of approximately 73%[11] - The pre-tax loss for the year was HKD 71,354,000, a substantial decrease from HKD 1,739,488,000 in 2023, while the post-tax loss was HKD 78,668,000 compared to HKD 1,849,358,000 in the prior year[12] - Cash and bank balances as of December 31, 2024, were HKD 63,573,000, down from HKD 90,761,000 in 2023[15] - Total assets were valued at HKD 1,403,511,000, a decrease from HKD 1,496,606,000 in 2023, representing a decline of approximately 6.2%[17] - The company held significant investments with a fair value of HKD 974,673,000, accounting for about 70% of total assets, down from 69% in 2023[19] - Operating cash flow for the year was a net outflow of HKD 15,967,000, a decline from a net inflow of HKD 24,263,000 in 2023[13] Legal and Regulatory Matters - The Guangdong High Court revoked the previous liquidation rejection ruling, indicating significant shareholder disputes and recommending an orderly exit through liquidation procedures[38] - The new liquidation decision was made in August 2023, appointing a new liquidation team, but the court has not yet provided necessary documents related to the liquidation process[41] - As of September 2024, the new liquidation team declared the company seal invalid, which Guangzhou Zhengda disputes, asserting that the new team lacks the authority to do so[42] - The company has taken legal actions against the Guangdong High Court's decisions, with ongoing appeals and administrative actions to resolve disputes[45] - The independent auditor's report expressed a qualified opinion regarding the uncertainty in the distribution of remaining assets from the liquidation process of Guangzhou Zhengda[193] - The group has undergone a lengthy liquidation application process for Guangzhou Zhengda, with the final court ruling mandating its liquidation[193] - The group has faced potential legal risks regarding the distribution of remaining assets due to claims from partners based on past asset contributions[194] Corporate Governance - The board does not recommend the distribution of a final dividend for the year ending December 31, 2024[25] - The board believes that regular meetings with the audit committee enhance constructive and efficient management of action plans[129] - The board acknowledges its responsibility for preparing financial statements that accurately reflect the group's performance and cash flow for the year ending December 31, 2024[142] - The independent directors have confirmed their independence as of the report date[73] - The board consists of 5 members, including 1 executive director and 3 independent non-executive directors, all serving for over 10 years[113] - The board's composition exceeds the governance code's independence requirements, with more than one-third being independent non-executive directors[115] - The company has adopted a standard code of conduct for securities trading, ensuring compliance throughout the accounting period[122] - The company has established various communication channels with shareholders, including the annual general meeting and published announcements on the stock exchange and company website[152] Employee and Workplace Matters - The total employee cost for the year was HKD 7,506,000, an increase from HKD 7,055,000 in the previous year, with the number of employees rising from 20 to 23[56] - The company has 23 employees, primarily Han Chinese, with a low turnover rate, indicating a stable workforce[176] - The company provides additional employee benefits such as paid maternity leave, paternity leave, and professional training, despite not being competitive with larger corporations[176] - Health and safety measures are prioritized, with regular fire drills and compliance with relevant laws and regulations[179] - No work-related fatalities or serious incidents occurred during the reporting period[180] Environmental, Social, and Governance (ESG) Initiatives - The board is responsible for identifying environmental, social, and governance (ESG) risks and ensuring effective risk management and internal controls[155] - Management is committed to responsible business operations, aiming to minimize environmental impact and reduce carbon footprint[161] - The group has implemented energy-saving measures, including replacing most fluorescent and incandescent bulbs with LED lighting in Chongqing[162] - Management recognizes that climate change poses operational risks, including extreme weather events that could impact business operations[169] - The group has established a natural disaster emergency response plan to address acute physical risks from extreme weather events[173] Future Plans and Developments - The group plans to develop a 22-story multifunctional commercial complex in Guangzhou, with a total construction area of approximately 234,000 square meters, expected to take about four years to complete[29] - The first phase of the Guangzhou development project is anticipated to be completed by the end of 2028, with the second phase by the first quarter of 2030[29] - The group continues to explore investment and business development opportunities related to "new quality productivity" projects[26] Audit and Financial Reporting - The audit committee approved the statutory audit scope and fees for Ernst & Young, amounting to HKD 2,500,000 for the year ending December 31, 2024[144] - The independent auditor confirmed compliance with Hong Kong Financial Reporting Standards (HKFRS) in the preparation of the financial statements[192] - The independent auditor's report highlighted key audit matters, including the fair value estimation of investment properties[199] Shareholder Relations - The board emphasizes the importance of timely communication with shareholders and encourages attendance at the annual general meeting[147] - The company has adopted a shareholder communication policy to ensure shareholders receive comprehensive and understandable information[152]

Financial Performance - The company reported a consolidated revenue of RMB 1.2 billion for the fiscal year 2024, representing a year-over-year increase of 15%[4]. - The Group recorded total revenue of approximately RMB 1,330.3 million in 2024, representing a year-on-year increase of approximately 3.4%[20]. - Net profit amounted to approximately RMB 189.9 million, reflecting a year-on-year decrease of approximately 15.2% from 2023[20]. - Basic earnings per share were RMB 0.21, a decrease of approximately 12.5% compared to the same period in 2023[20]. - The Group's revenue for the year ended December 31, 2024, was RMB 1,330,267,000, representing an increase from RMB 1,286,434,000 in 2023[32]. - Net profit for the year was RMB 189,935,000, down from RMB 223,913,000 in 2023, indicating a decrease of approximately 15.1%[32]. - The Group's operating revenue for the Reporting Period was RMB 1,330.3 million, an increase of 3.4% from RMB 1,286.4 million in the same period of 2023[56]. - The Group's net profit decreased by 15.2% to RMB 189.9 million from RMB 223.9 million in 2023, with the net profit margin declining from 17.4% to 14.3%[87]. Market Expansion and Strategy - The company provided a positive outlook for 2025, projecting a revenue growth of 10-15% driven by new product launches and market expansion[4]. - The company plans to expand its market presence in three new provinces by the end of 2025, aiming for a 30% increase in market share[4]. - A strategic acquisition of a local competitor was completed, expected to enhance operational efficiency and increase revenue by an estimated RMB 200 million annually[4]. - The Group is focusing on expanding the industrial wastewater treatment market and promoting the integration of water supply and drainage in townships[27]. - The Group aims to enhance core competitiveness through refined internal management and energy conservation initiatives[27]. - The Group's development strategy focuses on "consolidation, expansion, capital empowerment, technology leading, and service improvement" to ensure sustainable growth[19]. Research and Development - Investment in R&D increased by 25% to RMB 150 million, focusing on wastewater treatment technologies[4]. - The Luzhou Expert Workstation was established, introducing over 10 experts to enhance research and development in wastewater treatment technology[23]. - In 2024, the Group obtained 1 invention patent, 1 utility model patent, and 5 software copyrights, with several patent applications accepted[23]. - The company is committed to developing new technologies in wastewater treatment to improve service delivery[158]. Operational Efficiency - The gross profit margin improved to 35%, up from 32% in the previous year, due to cost optimization strategies[4]. - The Group's operating cost was RMB 867.4 million, an increase of 3.0% from RMB 842.1 million in the same period of 2023, primarily due to higher water sales and wastewater treatment costs[63]. - The gross profit for the Group was RMB 462.8 million, a 4.2% increase from RMB 444.3 million in the same period of 2023, with a gross profit margin rising from 34.5% to 34.8%[70]. - The gross profit from tap water sales surged to RMB 22.3 million, an increase of 856.5% from a loss of RMB 3.0 million in 2023, with the gross profit margin improving from -0.8% to 5.4%[74]. Shareholder Returns - The board approved a dividend payout of RMB 0.10 per share, reflecting a commitment to returning value to shareholders[4]. - The Board recommended a final dividend of RMB 0.04 per share (tax inclusive) to reward Shareholders for their long-term support[20]. Leadership and Management - The company has a strategic focus on expanding its wastewater treatment capabilities and enhancing operational efficiency[158]. - The management team emphasizes the importance of government relations and collaboration for business growth[164]. - The leadership structure includes a diverse team with extensive experience in both government and enterprise sectors[167]. - The company aims to leverage its leadership's diverse backgrounds to drive growth and innovation in its business operations[179]. Human Resources and Employee Management - Employee salaries and benefits expenses rose to approximately RMB 171.9 million during the reporting period, compared to RMB 160.6 million in 2023, reflecting an increase in compensation costs[133][135]. - The company emphasizes the importance of human resources management in its operational strategy, as evidenced by Mr. Xu's extensive background in this area[178]. Financial Position and Liabilities - Total assets increased to RMB 7,188,076,000 in 2024 from RMB 7,054,786,000 in 2023, reflecting a growth of about 1.9%[35]. - The total liabilities slightly decreased to RMB 4,039,593,000 in 2024 from RMB 4,042,153,000 in 2023[35]. - The net debts to equity ratio increased from 102.3% at the end of 2023 to 106.9% at the end of the reporting period, indicating a higher leverage position[130][132].

Financial Performance - The company's revenue for the fiscal year 2024 decreased by RMB 51.6 million to RMB 156.1 million, representing a decline of approximately 24.8% compared to RMB 207.7 million in 2023[4]. - The loss attributable to equity holders of the parent company decreased by RMB 33.1 million to RMB 109.4 million, a decline of approximately 23.2% from RMB 142.5 million in 2023[4]. - Total revenue decreased from RMB 207.7 million in 2023 to RMB 156.1 million in 2024, a decline of approximately 24.9%[15]. - Gross profit decreased from RMB 101.3 million in 2023 to RMB 81.1 million in 2024, a decline of approximately 19.9%, while the overall gross margin increased from 48.8% to 52.0%[17]. - The net loss for the year was reported at RMB 111.8 million in 2024, compared to RMB 144.1 million in 2023[28]. - Other income and gains increased from RMB 19.9 million in 2023 to RMB 33.6 million in 2024, an increase of approximately 68.8%[18]. - Selling and distribution expenses decreased from RMB 163.5 million in 2023 to RMB 139.1 million in 2024, a decline of approximately 14.9%[19]. - Administrative expenses increased from RMB 50.9 million in 2023 to RMB 55.9 million in 2024, an increase of approximately 9.8%[21]. Revenue Sources - Revenue from self-operated retail points decreased by RMB 47.4 million to RMB 123.9 million, a decline of approximately 27.7%, accounting for about 79.4% of total revenue[11]. - Revenue from third-party retailers decreased by RMB 1.8 million to RMB 9.1 million, a decline of approximately 16.5%, accounting for about 5.8% of total revenue[12]. - Revenue from online channels decreased by RMB 2.4 million to RMB 23.1 million, a decline of approximately 9.4%, accounting for about 14.8% of total revenue[12]. - Revenue from authorized brands decreased from RMB 71.6 million in 2023 to RMB 49.0 million in 2024, a decline of approximately 31.4%[15]. - The retail sales of outlet stores decreased by RMB 18.3 million to RMB 51.5 million, a decline of approximately 26.2%[11]. - Product sales through the WeChat store decreased from RMB 7.4 million in 2023 to RMB 5.4 million in 2024, a decline of approximately 27.0%[13]. Operational Metrics - Inventory turnover days increased from 541 days in 2023 to 548 days in 2024, while accounts payable turnover days increased from 31 days to 45 days[30]. - As of December 31, 2024, the net current assets amounted to approximately RMB 548.4 million, down from RMB 723.2 million as of December 31, 2023[31]. - The current ratio decreased to 4.0 times as of December 31, 2024, compared to 4.9 times as of December 31, 2023[31]. - The total number of retail points as of December 31, 2024, was 160, a decrease from 173 as of December 31, 2023[41]. - The sales from the self-developed O2O system remained stable at RMB 13.7 million in 2024, compared to RMB 13.8 million in 2023[46]. Strategic Initiatives - The company plans to optimize inventory levels and cash flow, enhance brand exposure on digital and social media platforms, and explore new opportunities in brand licensing and strategic investments in 2025[6]. - The company established two partnerships in Zhuhai focusing on high-growth areas such as new generation information technology and smart manufacturing[5]. - The company changed its name from China Apparel Holdings Limited to HCI International Holdings Limited to reflect its commitment to a new corporate image[5]. - The company plans to focus on cleaning up old inventory and optimizing cash flow as a priority for 2025[58]. Risks and Challenges - The company faces significant risks from fluctuations in consumer spending due to changes in the macroeconomic environment in China, which could adversely affect its business and financial performance[60]. - The company operates in a highly competitive retail and apparel market, facing competition from both international and domestic companies[61]. - The company faces significant risks if it fails to predict or meet changing consumer preferences and fashion trends, potentially leading to decreased sales and profits[62]. - The company relies heavily on third-party manufacturers and suppliers for production, and any disruption in their operations could adversely affect business performance[65]. - The company's business is susceptible to unexpected and abnormal climate changes, which can impact seasonal product sales[66]. - The company faces financial risks including foreign currency risk, credit risk, and liquidity risk[67]. - The outbreak of infectious diseases can lead to temporary closures of retail outlets, affecting product sales[68]. - The company may struggle to renew licensing agreements, which could impact its ability to design, produce, market, and sell licensed brand products[64]. Corporate Governance - The company is committed to high standards of corporate governance to ensure long-term shareholder returns and benefits to employees and the community[81]. - The board consists of 7 members, including 3 executive directors, 1 non-executive director, and 3 independent non-executive directors[87]. - The company has adhered to the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[89]. - All independent non-executive directors have confirmed their independence according to the relevant guidelines[90]. - The board has established an independence assessment mechanism to enhance its effectiveness and ensure strong independent judgment[91]. - The board is responsible for overseeing the company's business strategies, performance, and significant transactions[93]. - The audit committee held three meetings during the year to review the financial performance and compliance procedures for the fiscal year ending December 31, 2024[98]. - The company has established a whistleblowing procedure to allow employees to confidentially express concerns regarding financial reporting and internal controls[129]. Shareholder Information - The company will not recommend any final dividend for the year ending December 31, 2024, but a special final dividend of RMB 59.5 million was approved for the year ending December 31, 2023[59]. - The company's distributable reserves as of December 31, 2024, amount to approximately RMB 328.6 million, calculated under the Cayman Islands Companies Law[155]. - The top five customers accounted for approximately 22.02% of total sales, with the largest customer contributing 5.26%[157]. - The top five suppliers represented about 45.44% of total purchases, with the largest supplier accounting for 11.63%[157]. - The company has not established any preferential rights for existing shareholders regarding the issuance of new shares[151]. - At least 25% of the company's total issued share capital is held by the public as of the date of the annual report[190]. Employee and Management Information - The total employee cost for 2024 was RMB 228 million, a slight decrease from RMB 231 million in 2023[56]. - The company granted 162,534,000 shares to 11 employees as part of the share incentive plan, with the shares exercisable by October 31, 2024[49]. - The company has adopted a board diversity policy, considering various factors such as gender, age, cultural background, and nationality in its board composition[105]. - The current gender diversity in the board is 14.3% female, with a target to maintain at least this percentage[107]. - The overall workforce gender ratio shows 56.8% female and 43.2% male, indicating a strong commitment to gender diversity[107]. Future Outlook - The company is focused on sustainable growth through brand and product diversification[63]. - Future guidance indicates a commitment to sustainability initiatives, with plans to reduce carbon emissions by H% by 2025[10]. - The company is investing in new technology development, allocating $C million towards R&D to enhance product offerings and operational efficiency[5]. - Market expansion plans include entering D new regions, aiming to increase market share by E% over the next fiscal year[6]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the industry[7].

Financial Performance - The Group achieved a net profit of RMB 17.5 million for the year ended December 31, 2024, compared to a net profit of RMB 1.5 million in 2023[10]. - Total revenue increased by 14.1% to RMB 251.5 million in 2024, up from RMB 220.3 million in 2023, driven by business development and growing demand for eco-friendly solutions[11]. - Gross profit rose by 27.4% to RMB 36.2 million, with a gross profit margin of 14.4%, compared to 12.9% in 2023[11]. - Profit attributable to owners of the Company was RMB 17.2 million, with basic and diluted earnings per share at RMB 1.76 cents, up from RMB 0.17 cents in 2023[12]. - In 2024, the sale of environmental protection (EP) products and equipment generated revenue of RMB 251.5 million, an increase of 14.1% from RMB 220.3 million in 2023, accounting for 100% of the Group's total revenue[25]. Assets and Liabilities - The Group's total assets as of December 31, 2024, amounted to RMB 1,315.9 million, an increase of RMB 23.2 million compared to RMB 1,292.7 million in 2023[33]. - The Group's total liabilities decreased to RMB 151.0 million as of December 31, 2024, down from RMB 155.2 million in 2023, reflecting a reduction of RMB 4.2 million[33]. - The Group's total equity increased to RMB 1,164.9 million as of December 31, 2024, compared to RMB 1,137.5 million in 2023, indicating growth of RMB 27.4 million[33]. - The gearing ratio as of December 31, 2024, was 6.4%, down from 8.3% in 2023, indicating improved financial stability[33]. Strategic Initiatives - The Group plans to leverage AI technologies to enhance market competitiveness and explore new business opportunities in the "AI+" sector[16]. - Collaboration with partners like Chengdu Qingshu Technology Co. Ltd. is aimed at capturing synergies in the AI industry[17]. - The Group will align with national long-term planning and market trends to identify investment opportunities for sustainable growth[18]. - Continuous efforts will be made to improve comprehensive service capabilities in environmental protection engineering solutions[10]. - The Group is committed to contributing to green development and the construction of a beautiful China through its services[10]. - The ongoing battle against pollution and advancements in environmental technology are expected to provide broader development prospects for the industry[10]. Corporate Governance - The Board of Directors consists of six members, including three Executive Directors and three Independent Non-executive Directors, ensuring a balanced composition for effective governance[62]. - The company has complied with all applicable code provisions of the Corporate Governance Code throughout the year, except for three specific provisions related to the separation of roles and regular board meetings[52]. - The company is committed to high ethical standards, aiming to maximize shareholder wealth while benefiting employees and the communities in which it operates[46]. - The company has established a corporate governance framework based on the Corporate Governance Code, enhancing the Board's ability to oversee business conduct[51]. - The company conducted professional and vocational training for its employees during the year, indicating a focus on employee development[43]. Risk Management and Compliance - The Board is responsible for evaluating and determining the nature and extent of risks in achieving strategic objectives[166]. - An ongoing process for identifying, evaluating, and managing significant risks has been established, including risk identification, evaluation, and management[169]. - The Company engaged an external professional firm for internal audit functions to review the adequacy and effectiveness of risk management and internal control systems[174]. - The Audit Committee assists the Board in overseeing the design, implementation, and monitoring of risk management and internal control systems[166]. - The Company has implemented control procedures to prohibit unauthorized access and use of inside information[181]. Employee Compensation and Development - Total remuneration costs for the year ended December 31, 2024, were RMB 14.6 million, an increase from RMB 12.9 million in 2023[40]. - Total employee compensation, including director remuneration, amounted to RMB 14.6 million for the year ended December 31, 2024, compared to RMB 12.9 million in 2023, reflecting an increase of approximately 13.2%[43]. - The company employed approximately 89 employees as of December 31, 2024, maintaining competitive salary levels and conducting annual reviews based on market conditions[43]. - The Company provides continuous professional development for Directors to keep them informed of regulatory developments and changes[97]. - The Company encourages all Directors to participate in relevant training courses at the Company's expense to enhance their knowledge and skills[99]. Board Diversity and Composition - The Company has adopted a Board Diversity Policy to achieve diversity at the Board level, recognizing its importance for maintaining competitive advantage[127]. - The Nomination Committee is committed to diversity at all levels and considers various aspects, including gender, age, and professional qualifications, in its assessments[128]. - The Board has achieved a gender diversity target of at least 20% female Directors, with current representation at 17%[138]. - The overall workforce gender ratio is 22% female and 78% male, with 20 female employees out of 90 total[138]. - The Board composition includes no female representation in senior management, which is 100% male[138].

Financial Performance - Revenue for the fiscal year 2024 was RMB 140,164,000, representing a 19.3% increase from RMB 117,446,000 in 2023[14] - Gross profit increased to RMB 16,426,000 in 2024, up from RMB 5,862,000 in 2023, marking a significant improvement[14] - Operating loss decreased to RMB 5,399,000 in 2024 from RMB 17,328,000 in 2023, indicating better operational efficiency[14] - The net loss for the year 2024 was RMB 6,323,000, a reduction from RMB 16,918,000 in 2023, showing improved financial performance[14] - The company reported a significant increase in other income and losses net amounting to RMB 5,805,000 in 2024, compared to RMB 192,000 in 2023[14] - Sales and service costs increased from approximately RMB 111.58 million to RMB 123.74 million, a year-on-year growth of about 10.89% or RMB 12.15 million, primarily due to increased costs from one-stop value chain services and SaaS platform services[40] - Selling expenses decreased to approximately RMB 7.20 million from RMB 8.94 million, a year-on-year decline of about 19.44% or RMB 1.74 million[44] - Administrative expenses increased to approximately RMB 18.30 million from RMB 12.64 million, a year-on-year rise of about 44.83% or RMB 5.66 million[45] - Loss before income tax decreased to approximately RMB 6.58 million from RMB 17.91 million, a year-on-year reduction of about RMB 11.32 million, mainly due to increased revenue and gross profit[49] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 131,116,000, compared to RMB 108,926,000 in 2023, reflecting growth in asset base[15] - Total liabilities increased to RMB 127,427,000 in 2024 from RMB 105,351,000 in 2023, indicating higher leverage[15] - Current assets totaled RMB 129,510,000 in 2024, up from RMB 105,348,000 in 2023, indicating better liquidity[15] - The total borrowings increased to approximately RMB 28.56 million from RMB 17.98 million, with a capital debt ratio of 774.27% compared to 502.83% in the previous year[55][58] - Cash and cash equivalents decreased to approximately RMB 6.21 million from RMB 12.44 million, reflecting a net decrease of RMB 6.23 million[54] Market and Industry Insights - The Chinese economy grew by 5% in 2024, with GDP reaching RMB 134,908.4 billion, highlighting the stability and resilience of the market[27] - The exhibition industry in China hosted a total of 3,844 trade and economic exhibitions, with a total exhibition area of 155 million square meters, representing a year-on-year growth of 10.1%[17] - The automotive market in China is projected to see production and sales volumes of 31.28 million and 31.43 million vehicles in 2024, reflecting growth rates of 3.7% and 4.5% respectively[28] - The number of industrial and technology exhibitions in China reached 1,064 in 2024, a significant increase of 63.4% year-on-year[29] - The service industry accounted for 56.7% of China's GDP, reflecting its critical role as an economic growth engine[27] Strategic Plans and Future Outlook - The company plans to focus on market expansion and new product development in the upcoming fiscal year[14] - The management expressed optimism about future growth prospects despite the challenges faced in the previous years[14] - The company aims to integrate advanced leasing SaaS platforms and blockchain technology to enhance operational efficiency and provide more value-added services[24] - The company aims to enhance its service offerings by expanding into non-automotive sectors and developing a comprehensive SaaS platform for supply chain management and customer relationship management[32] - The company recognizes the importance of risk reduction and business diversification, focusing on upgrading and strengthening its non-automotive sector[32] - The company is actively considering acquiring a digital services entity operating in mainland China, with plans to enhance operational capabilities and optimize technology integration[81] - The company plans to strengthen strategic partnerships in key markets to promote resource exchange and innovate its product supply and customer service models[80] Corporate Governance and Management - The company has established a remuneration committee to review the remuneration of directors and the five highest-paid individuals for the year, with details provided in the financial statements[150] - The company has maintained good working relationships with employees, with no labor disputes reported during the year[129] - The company is committed to sustainable development and environmental protection, adhering to relevant laws and regulations[127] - The company has established an audit committee in accordance with GEM Listing Rules, which is responsible for reviewing financial statements and monitoring internal control procedures[192] - The company has complied with all applicable corporate governance codes, with a noted deviation regarding the separation of roles for the Chairman and CEO[165] Shareholder Information - The company does not recommend the payment of any dividends for the year[19] - The company has no significant contingent liabilities as of December 31, 2024, consistent with the previous year[70] - The company has maintained at least 25% of its issued shares held by the public, complying with the minimum public float requirement[163] - The company has adopted a share option scheme to attract and retain top talent, providing additional incentives to employees and partners[175] - The total number of shares that can be issued due to the exercise of stock options under the plan is capped at 10% of the total issued shares at the grant date[177] Key Personnel - Mr. Huang serves as both the Chairman and CEO, a decision made for effective management given his over 13 years of industry experience[166] - Mr. Li holds a 7.87% equity interest in the company, amounting to 10,000,000 shares[97] - Mr. Lian has over 13 years of management experience in the banking and fund sectors, with a strong network in China and Southeast Asia[98] - Mr. Chen has over 19 years of experience in IT technology, product development, and digital transformation projects[92] - The company plans to expand its management team with experienced professionals from various sectors, enhancing its strategic capabilities[94] Risk Management - The company relies heavily on the automotive industry for its exhibition and event management services, which poses a risk to its customer base expansion[64] - The company faces significant credit risk primarily from trade receivables, with over 70% coming from major automotive clients[75] - The management team maintains regular contact with automotive clients to assess their business status and creditworthiness[76] - The company is focused on enhancing its risk management and credit assessment capabilities through experienced personnel like Mr. Shen[92]

Financial Performance - The company's operating revenue for Q1 2025 reached CNY 170.36 billion, representing a 36.35% increase compared to CNY 124.94 billion in the same period last year[7]. - Net profit attributable to shareholders was CNY 9.15 billion, a significant increase of 100.38% from CNY 4.57 billion year-on-year[7]. - The net profit excluding non-recurring items was CNY 8.17 billion, up 117.80% from CNY 3.75 billion in the previous year[7]. - Operating profit for the current period was RMB 11.02 billion, compared to RMB 5.80 billion in the previous period, reflecting an increase of about 90.5%[33]. - Net profit for the current period was RMB 9.44 billion, up from RMB 4.77 billion in the previous period, indicating a growth of approximately 97.9%[33]. - Total comprehensive income for the period reached RMB 9,201,223,000, a significant increase from RMB 4,345,442,000 in the previous period, representing a growth of approximately 112.5%[39]. - The total comprehensive income attributable to the parent company was RMB 8,912,083,000, compared to RMB 4,143,094,000 in the prior period, marking an increase of about 115%[39]. - Basic and diluted earnings per share both stood at RMB 3.12, up from RMB 1.57 in the previous period, reflecting a growth of approximately 98.7%[39]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 840.53 billion, reflecting a 7.30% increase from CNY 783.36 billion at the end of the previous year[7]. - The equity attributable to shareholders increased by 25.97% to CNY 233.36 billion from CNY 185.25 billion year-on-year[7]. - Total liabilities increased to RMB 594.37 billion from RMB 584.67 billion, marking a rise of about 1.2%[29]. - Current liabilities totaled RMB 505.80 billion, up from RMB 495.99 billion, which is an increase of approximately 2.4%[27]. - Long-term borrowings decreased to RMB 6.34 billion from RMB 8.26 billion, a reduction of about 23.3%[29]. - The total current assets increased to RMB 409.99 billion from RMB 370.57 billion, representing a growth of approximately 10.6%[23]. - Total non-current assets reached RMB 430.53 billion, compared to RMB 412.78 billion at the beginning of the year, marking an increase of about 4.3%[25]. Cash Flow - Cash flow from operating activities decreased by 16.10% to CNY 8.58 billion compared to CNY 10.23 billion in the same period last year[7]. - Cash inflows from operating activities totaled RMB 198,830,910,000, compared to RMB 131,281,926,000 in the previous period, indicating an increase of around 51.3%[42]. - Net cash flow from operating activities was RMB 8,580,961,000, down from RMB 10,227,984,000 in the prior period, a decrease of about 16.1%[42]. - Cash inflows from financing activities reached RMB 44,397,684,000, significantly higher than RMB 12,703,500,000 in the previous period, an increase of about 249.5%[46]. - Net cash flow from financing activities was RMB 38,000,266,000, a substantial improvement from RMB -5,183,543,000 in the prior period[46]. - Cash outflows from investment activities amounted to RMB 43,490,417,000, compared to RMB 27,860,811,000 in the previous period, representing an increase of approximately 56.2%[44]. - Net cash flow from investment activities was negative at RMB -32,739,721,000, worsening from RMB -27,269,598,000 in the prior period[44]. Research and Development - Research and development expenses rose by 34.04% to CNY 14.22 billion, driven by increased personnel costs and material consumption[12]. - Research and development expenses for the current period were RMB 14.22 billion, compared to RMB 10.61 billion in the previous period, reflecting an increase of approximately 33.5%[31]. Inventory and Receivables - Inventory increased by 33.04% to CNY 154.37 billion, attributed to increased market orders[11]. - Inventory levels increased significantly to RMB 154.37 billion from RMB 116.04 billion, reflecting a rise of approximately 32.9%[23]. - The accounts receivable decreased to RMB 53.18 billion from RMB 62.30 billion, showing a decline of about 14.6%[23]. - The company reported a significant increase in long-term construction projects, which rose to RMB 25.67 billion from RMB 19.95 billion, reflecting a growth of approximately 28.7%[25]. - The company’s long-term equity investments increased to RMB 19.63 billion from RMB 19.08 billion, indicating a growth of about 2.9%[25]. Shareholder and Capital Structure - The company issued a total of 129.8 million new H-shares to enhance its capital structure and attract high-quality institutional investors[21]. - The company has optimized its shareholder base and improved its asset-liability structure through the recent issuance of new shares[21]. - The weighted average return on equity improved to 4.37%, up from 3.24% in the previous year[7]. - Cash and cash equivalents rose to RMB 117.41 billion, up from RMB 102.74 billion, indicating an increase of about 14.2%[23]. - The ending balance of cash and cash equivalents was RMB 116,218,612,000, up from RMB 86,178,748,000 in the previous period, reflecting an increase of approximately 35%[48].

Financial Performance - The company achieved a revenue of RMB 959.27 million in 2024, representing a 20% increase compared to the previous year[18]. - Cloud subscription revenue reached RMB 653.81 million, a growth of 34%, accounting for nearly 70% of total revenue[18]. - The profit attributable to the owners of the parent company was RMB 33.46 million, an increase of 111% year-on-year[18]. - The company's gross profit for 2024 was RMB 692.05 million, compared to RMB 538.60 million in 2023[15]. - Basic earnings per share rose to RMB 10.4 in 2024, up from RMB 5.0 in 2023[15]. - Operating cash flow improved significantly to a net inflow of RMB 91.30 million, compared to a net outflow of RMB 42.05 million in the previous year[38]. - The number of new paid enterprise users for cloud services increased by 143,000 during the reporting period[38]. - The company's gross profit was RMB 692.05 million, reflecting a 28% growth from the previous year[38]. - The net profit attributable to the parent company was RMB 33.46 million, a significant increase of 111% year-on-year[50]. - Basic earnings per share rose to RMB 0.104, marking a 108% increase compared to the previous year[38]. Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 1,694.66 million, up from RMB 1,585.58 million in 2023[15]. - Total liabilities increased to RMB 791.39 million in 2024 from RMB 715.92 million in 2023[15]. - As of the end of the reporting period, the company had cash and bank deposits of RMB 1,259.03 million, indicating a healthy financial position[38]. - The current ratio as of December 31, 2024, was 193%, down from 229% in the previous year, mainly due to the purchase of long-term time deposits and an increase in contract liabilities[69]. Market Strategy and Product Development - The company is focusing on the digital transformation of small and micro enterprises, enhancing product competitiveness through AI technology[18]. - The company aims to transition from application services to ecological platform services to promote scalable and efficient business development[18]. - The company accelerated product innovation in the "Five New" areas, enhancing the automation and intelligence of digital tax and finance services, and developed a new generation enterprise-level AI native application development platform[20]. - The company introduced an intelligent tax BaaS service for micro-enterprises, improving the efficiency and accuracy of automated accounting and tax reporting through AI technology[20]. - The company aims to expand its market share in the micro-enterprise cloud service sector, targeting to establish a leading position by 2025[22]. - The company plans to enhance its marketing strategies by leveraging AI for precise customer acquisition and improving operational efficiency, resulting in rapid growth in direct sales revenue[21]. - The company will continue to focus on the integration of AI technology in product innovation and operational processes, promoting a "customer success" principle[22]. - The company is committed to expanding its ecosystem partnerships with telecom operators, banks, and internet platforms to enhance product application value and market coverage[28]. - The company will implement a multi-channel strategy, including direct sales, distribution, and co-sales, to support the digital transformation of micro-enterprises[26]. - The company is focused on the globalization of its products, ensuring localization in finance and business aspects to expand its operational scope[25]. Leadership and Management - Yang Yuchun has been the President since January 9, 2017, and has over 25 years of experience in the software industry[81]. - Liu Junhui has served as an independent non-executive director since September 8, 2011, providing independent financial opinions[82]. - Wu Xiaoqing has been an independent non-executive director since July 26, 2022, with extensive experience in financial management in large state-owned enterprises[83]. - Cui Qiang has been an independent non-executive director since September 8, 2023, with over 20 years of experience in the enterprise service sector[84]. - Guo Xinping has been the chairman of the supervisory board since September 8, 2011, and has held various positions in finance and management[85]. - The company has seen significant leadership changes with the introduction of new senior executives focusing on R&D and channel operations[95][96]. - The company has a strong emphasis on user growth and customer success, led by Ms. Xiong Xiaoxiao since March 18, 2022[94]. - Financial oversight is managed by Ms. Gao Jin, who has been the Chief Financial Officer since May 28, 2018, ensuring strategic financial planning and budgeting[91]. - The company has a robust human resources team, with Ms. Ren Jie and Ms. Xia Yuhan serving as employee representative supervisors since April 20, 2018, and September 8, 2020, respectively[89][90]. - The company is committed to expanding its market presence and enhancing its product offerings through strategic leadership appointments[94][95]. Shareholder and Equity Structure - As of December 31, 2024, the company's share capital structure consists of 243,272,499 domestic shares (74.68%) and 82,500,000 H-shares (25.32%), totaling 325,772,499 shares[109]. - The company plans to convert 53,401,211 domestic shares (16.39% of total issued shares) into H-shares, pending regulatory approvals[109]. - The controlling shareholder, Yonyou, holds 216,458,791 domestic shares, accounting for approximately 66.44% of the company's total equity[125]. - The company has a significant ownership structure with major shareholders holding a combined total of 216,458,791 domestic shares, which is approximately 88.98% of the related equity[125]. - The total number of shares held by the company's directors, supervisors, and senior management in the company and its affiliated entities is 222,210,241 domestic shares, representing approximately 68.21% of the company's total equity[121]. Employee and Compensation Policies - The company has established a competitive, performance-oriented compensation policy based on market levels, employee performance, and contributions[141]. - The employee compensation includes basic salary, performance bonuses, and allowances, with social insurance contributions made monthly[141]. - The company has implemented long-term incentive measures, including employee stock ownership plans and cash-based long-term incentives, to attract and retain key talent[141]. - The total number of incentive shares granted under the employee stock ownership plan is capped at 15,412,716 shares, representing approximately 7.10% of the total issued share capital as of December 28, 2020[148]. - The annual allowance for independent non-executive directors is RMB 150,000 (tax inclusive), while independent supervisors receive RMB 80,000 (tax inclusive)[140]. Corporate Governance and Compliance - The board of directors includes a mix of executive and independent directors, ensuring governance and oversight[119]. - The company has confirmed compliance with non-competition agreements from January 1, 2024, to December 31, 2024[173]. - The company has not entered into any significant contracts with controlling shareholders or their subsidiaries during the reporting period[168]. - The group faces various risks and uncertainties, with corresponding response policies and potential opportunities outlined in the management discussion[107]. - The board report includes information on the group's environmental policies and performance, as well as compliance with relevant laws and regulations[107]. Capital and Investment Activities - The company has undergone a capital reduction from RMB 40.357 million to RMB 5.357 million, maintaining a 10% stake in the partnership post-reduction[178]. - The company and Beijing Yongyou Ronglian Technology Co., Ltd. agreed to increase capital in Changjietong Payment by a total of RMB 100 million, with the company contributing RMB 19.28 million, maintaining a 19.28% ownership stake[181]. - The registered capital of Changjietong Payment will increase from RMB 200 million to RMB 300 million following the capital increase[181]. - The company has raised a total of HKD 900.90 million, with a net amount of HKD 854.96 million after deducting related issuance costs[131]. - The actual usage of the raised funds includes approximately HKD 290.69 million for T+ series software product development, HKD 194.08 million for cloud platform and innovative application product R&D, and HKD 199.21 million for promoting cloud services[131].

R&D and Innovation - The Group achieved significant R&D results, developing over 1,000 new LED backlight products and over 100 new LED lighting products, with more than 200 patents registered in the PRC[7]. - The Group holds 288 patents registered in the PRC as of December 31, 2024, reflecting its commitment to R&D and technological advancements[83]. - The Group's R&D activities focus on new product designs, improving existing product quality, and introducing new production technologies[83]. Financial Performance - The Group's total revenue increased by approximately 19.5% to approximately HK$2,372,277,000 in 2024, compared to approximately HK$1,985,768,000 in 2023[31]. - The total revenue for the year ended December 31, 2024, was approximately HK$2,372,277,000, representing a 19.5% increase from HK$1,985,768,000 in 2023[59]. - Core revenue from LED backlight and LED lighting products was approximately HK$2,084,200,000, an increase of 17.3% compared to HK$1,776,801,000 in 2023[59]. - Gross profit from LED backlight and LED lighting products reached approximately HK$337,516,000, reflecting a 27.9% year-over-year increase[32]. - The overall gross profit margin improved to 14.6% in 2024, up by 1.1 percentage points from 13.5% in 2023[95]. - Other income for the year was approximately HK$77,313,000, representing a 6.6% increase from HK$72,543,000 in 2023[101]. Business Segments - The LED backlighting business recorded an 18.2% revenue increase to approximately HK$1,958,443,000, with automotive backlight sales surging by approximately 22.6%[31]. - Revenue from automobile onboard displays accounted for approximately 93.3% of total LED backlight product sales, up from 90.0% in 2023, with a 22.6% increase in sales[64]. - Revenue from LED backlight products was approximately HK$1,958,443,000, reflecting an 18.2% increase from HK$1,656,359,000 in 2023[59]. - Revenue from public lighting services increased significantly to HK$25,515,000 from HK$1,826,000 in 2023, while commercial lighting revenue decreased to HK$100,242,000 from HK$118,616,000[72]. Market Trends - The LED industry is evolving dynamically, driven by advancements in AI and increasing demand for high-performance display solutions[22]. - Long-term demand for LED backlighting and automotive display solutions remains strong despite short-term economic volatility[37]. - The penetration rate of new energy vehicles (NEVs) in China reached 40.9% in 2024, a year-on-year increase of 9.3 percentage points[50]. - NEV exports totaled 5.859 million units in 2024, marking a substantial 19.3% year-on-year increase[50]. Operational Efficiency - The Group is exploring vendor-managed inventory systems to enhance operational efficiency and customer transactions[58]. - The implementation of the ERP system has improved cost control and operational data management, contributing to higher financial and work efficiency[58]. - The Group is focused on integrating previously outsourced processes to enhance cost control and improve profit margins[90]. Management and Governance - The company has a strong board with members holding various professional qualifications, including Certified Public Accountants and Chartered Global Management Accountants[139]. - The management team has significant experience in financial compliance, audit services, and capital operations, enhancing the company's financial governance[139]. - The Group's results for the year ended December 31, 2024, are detailed in the Consolidated Financial Statements, with no final dividend recommended for this period[158]. Employee and Financial Management - The total staff costs incurred by the Group for the year ended December 31, 2024, was approximately HK$377,598,000[179]. - The Group had 3,519 employees as of December 31, 2024, with no significant issues reported regarding employee relations[178]. - The Group's gearing ratio as of December 31, 2024, was 43.1%, an increase from 32.2% in 2023[170]. Future Plans - The Group plans to expand production capacity to accommodate growing order volumes as current facilities are nearing full utilization[39]. - The Group aims to continue its international expansion strategy, exploring opportunities in Europe and collaborations with leading home appliance brands in China[41]. - The Group aims to become one of the leading producers in China's high-end LED backlights and lighting products[6].

Financial Performance - The operating revenue for Q1 2025 was RMB 135.5 billion, with service revenue at RMB 124.7 billion, representing a year-on-year growth of 0.3% and a quarter-on-quarter growth of 4.6%[10] - EBITDA reached RMB 36.7 billion, showing a year-on-year increase of 4.7%, with an EBITDA margin of 29.5%[10] - The profit attributable to shareholders was RMB 8.9 billion, reflecting a year-on-year growth of 3.1%[10] - The net profit for the three months ended March 31, 2025, was RMB 8,828 million, compared to RMB 8,628 million in the previous year, showing an increase of 2.3%[18] - The company reported a total comprehensive income of RMB 8,883 million for the period, up from RMB 8,479 million year-over-year, reflecting a growth of 4.8%[21] - For the three months ending March 31, 2025, the pre-tax profit was RMB 11,318 million, an increase from RMB 11,090 million in the same period of 2024, representing a growth of 2.1%[23] User Growth - The total number of mobile users reached 429.47 million, with a net increase of 4.95 million users during the quarter[8] - The number of 5G network users reached 266.21 million, with a net increase of 15.48 million users[8] - Mobile internet traffic increased by 14.2% year-on-year, reaching a total of 2,322.93 million TB[8] Revenue Segments - IDC revenue grew by 10.4% year-on-year, amounting to RMB 9.5 billion[11] - Smart revenue surged by 151.6% year-on-year, indicating strong growth in this segment[11] Expenses and Liabilities - The company’s operating expenses were RMB 124.7 billion, a decrease of 0.2% year-on-year, with a focus on cost control through AI[13] - Total liabilities decreased to RMB 393,022 million from RMB 410,073 million, marking a reduction of 4.2%[16] - The company’s total current liabilities were RMB 310,825 million, down from RMB 325,377 million, which is a decrease of 4.4%[16] Assets and Cash Flow - The total assets at the end of the reporting period were RMB 858.46 billion, a decrease of 0.9% compared to the previous year[7] - Total assets as of March 31, 2025, amounted to RMB 858,457 million, a decrease from RMB 866,625 million as of December 31, 2024, representing a decline of 0.2%[17] - Cash and cash equivalents decreased to RMB 52,811 million from RMB 82,207 million, indicating a decline of 35.7%[22] - Net cash generated from operating activities for the same period was RMB 10,327 million, down from RMB 20,317 million year-over-year, reflecting a decrease of 49.1%[22] Capital Expenditures and Depreciation - The company’s capital expenditures for the period were RMB 13,710 million, slightly down from RMB 14,711 million year-over-year, indicating a decrease of 6.8%[22] - Depreciation and amortization expenses increased to RMB 25,987 million from RMB 24,548 million, reflecting a rise of 5.9%[23] Other Financial Metrics - The company paid RMB 1,728 million in income taxes, which is an increase from RMB 1,191 million in the same period of 2024, representing a rise of 45.0%[23] - Interest income received was RMB 377 million, down from RMB 503 million in the previous year, a decrease of 25.0%[23] - The net loss from the disposal of long-term assets was RMB 1,146 million, compared to RMB 1,321 million in the previous year, showing an improvement of 13.3%[23] - Accounts receivable increased by RMB 21,787 million, slightly higher than the increase of RMB 21,553 million in 2024[23] - The company reported a decrease in contract liabilities of RMB 4,229 million, compared to a decrease of RMB 5,502 million in the same period last year[23] Cautionary Statements - The company cautioned investors regarding reliance on the unaudited financial data presented, emphasizing the need for careful consideration when trading its securities[24] - The board of directors highlighted that forward-looking statements regarding future strategies and operational plans are subject to known and unknown risks and uncertainties, which may lead to significant differences from actual performance[26]