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]

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 392,249,000, an increase of 4.2% compared to RMB 374,277,000 in 2023[11] - Gross profit for 2024 was RMB 102,520,000, down 4.3% from RMB 107,802,000 in 2023[11] - The company reported a net loss attributable to owners of RMB 45,383,000 for 2024, compared to a loss of RMB 43,979,000 in 2023[11] - The company achieved a revenue of approximately RMB 392,249,000, representing a year-on-year growth of about 4.80%[20] - The company recorded a loss attributable to shareholders of approximately RMB 45,383,000 in 2024, compared to a loss of approximately RMB 43,979,000 in the previous year[20][21] - Revenue from electric vehicle charging equipment was approximately RMB 224,584,000, an increase of about 8.67% compared to the previous year[23] - Revenue from electric vehicle charging services decreased by approximately 13.27% to RMB 22,998,000, primarily due to reduced charging volumes at certain bus charging stations[24] - The company’s revenue from power DC products was approximately RMB 144,473,000, reflecting a year-on-year increase of about 2.45%[22] - The company reported a significant increase in revenue, with a year-over-year growth of 25% in the last quarter[108] - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20%[110] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 1,020,697,000, a decrease of 5.4% from RMB 1,078,847,000 in 2023[12] - Current assets were RMB 798,874,000, down from RMB 853,739,000 in 2023, indicating a decline of 6.4%[12] - The total equity of the group as of December 31, 2024, is approximately RMB 569,011,000, a decrease from RMB 618,637,000 as of December 31, 2023[82] - The group’s total bank balances and cash as of December 31, 2024, are approximately RMB 133,861,000, a decrease from RMB 219,772,000 as of December 31, 2023[82] - The group’s outstanding bank loans and other borrowings as of December 31, 2024, total approximately RMB 209,768,000, an increase from RMB 156,549,000 as of December 31, 2023[83] - The capital debt ratio as of December 31, 2024, is approximately 20.55%[84] Operational Efficiency - The current ratio for 2024 was 2.07, slightly down from 2.16 in 2023[14] - The inventory turnover period increased to 211 days in 2024 from 253 days in 2023[14] - Sales cost increased by approximately 8.73% from RMB 266,475,000 for the year ended December 31, 2023, to RMB 289,729,000 for the year ended December 31, 2024[52] - Gross profit decreased by approximately 4.90% from RMB 107,802,000 for the year ended December 31, 2023, to RMB 102,520,000 for the year ended December 31, 2024, with a gross margin decline from 28.80% to 26.14%[53] - Other income decreased from RMB 15,802,000 for the year ended December 31, 2023, to RMB 4,292,000 for the year ended December 31, 2024, primarily due to reduced government subsidies[55][56] Market and Product Development - In 2024, the number of new energy vehicles sold reached 11,582,000, with a 24.7% year-on-year growth in charging infrastructure[16] - The number of newly added private charging piles increased by approximately 37.0% to 3,368,000 in 2024[16] - The company plans to focus on energy storage business strategies, leveraging advanced power electronics technology and new energy storage systems[18] - The company is actively integrating industry chain resources to build a smart energy ecosystem encompassing vehicles, charging stations, energy storage, and networks[18] - The company launched a new power product—"Remote Nuclear Capacity (Discharge) Product," targeting applications in various sectors including national power grids and new energy vehicle charging stations, with technology currently at a leading domestic level[30] - The company is exploring innovative financing models to support the upgrade of charging infrastructure and enhance user experience in the new energy vehicle sector[47] Research and Development - The company significantly increased R&D investment, focusing on charging technology, energy storage, and integrated energy utilization, resulting in the acquisition of 7 invention patents during the reporting period[37] - The company introduced a new intelligent power scheduling solution for high-power DC charging products, with a single system capable of reaching a maximum power of 960kW and supporting up to 16 charging guns[33] - The company is committed to advancing research and development, focusing on core power electronics technologies and upgrading existing charging products across multiple dimensions[48] - The company is investing in R&D, with a budget increase of 30% for new technology development[110] Corporate Governance - The company complied with all applicable code provisions of the Corporate Governance Code for the year ending December 31, 2024[116] - The board consists of both executive and independent non-executive directors, ensuring diverse oversight[122] - The company emphasizes high standards of corporate governance to enhance stakeholder confidence[116] - The board is committed to reviewing and monitoring its corporate governance practices continuously[118] - The company has established three committees to oversee various aspects of its operations, ensuring high standards of corporate governance[139] Sustainability and ESG - The company is committed to sustainable development and responsible operations, as outlined in its environmental, social, and governance report[178] - The company aims to integrate sustainable development elements into daily operations, focusing on environmental protection and community development[188] - The ESG management framework is led by the board and includes various departments to identify and manage ESG-related risks[192] - The company emphasizes a balanced approach in reporting its sustainable development performance and challenges to stakeholders[186] - The report adheres to the ESG reporting guidelines set by the Hong Kong Stock Exchange[180]

Financial Performance - The total assets of Southwest Securities International amounted to approximately HKD 97.9 million, with net liabilities of about HKD 48.3 million[13]. - The company recorded a net loss of approximately HKD 11.2 million for the year, which is a reduction of about HKD 4.7 million or 29.6% compared to the previous year[21]. - The brokerage and margin financing business recorded revenue of approximately HKD 0.1 million for the year, consistent with the previous year[22]. - The corporate finance segment did not generate any revenue this year, compared to HKD 5.5 million in 2023[23]. - Asset management revenue was approximately HKD 0.9 million this year, while there was no revenue recorded in the previous year[25]. - The trading business generated net revenue of approximately HKD 0.1 million, a significant decrease from HKD 25.6 million in 2023[27]. - Other income for the year was approximately HKD 10.2 million, down from HKD 24.9 million in 2023, primarily due to a decline in bank interest income[29]. - Employee costs for the year were approximately HKD 19.7 million, down from HKD 25.6 million in 2023, reflecting a strategic adjustment in workforce allocation[31]. - Financial costs decreased to approximately HKD 10.3 million, a reduction of HKD 21.5 million or 67.6% compared to HKD 31.8 million in 2023[33]. - The group reported a consolidated loss of approximately HKD 11,216,000 for the year ending December 31, 2024[188]. Business Strategy and Development - The company aims to enhance its comprehensive service capabilities by leveraging opportunities in interconnectivity expansion, green finance, and digital transformation[19]. - The company plans to focus on core business advantages and integrate into the national development strategy to share opportunities with clients and shareholders[15]. - The company will continue to support high-quality development as a key task in the upcoming years[15]. - The company is actively exploring new business opportunities and aims to expand its client base and business prospects in financial advisory, asset management, and brokerage services[35]. Compliance and Governance - The company will strengthen compliance culture and implement ESG principles to contribute to the prosperity of Hong Kong's financial industry[19]. - The company has set effective management policies and internal control systems regarding environmental, social, and governance issues[55]. - The company emphasizes high standards of anti-corruption practices to maintain operational transparency and integrity[58]. - The group has maintained a commitment to high standards of transparency and accountability, ensuring no significant violations of bribery, extortion, fraud, or money laundering laws were found this year[60]. - The board of directors is committed to maintaining high standards of corporate governance to protect and enhance shareholder value[145]. - The company has adopted a standard code for securities trading by directors, ensuring compliance and ethical conduct among its leadership[147]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to monitor specific aspects of the company’s affairs[164]. Financial Position and Liquidity - As of December 31, 2024, the total cash and bank balance was approximately HKD 91.8 million, down from HKD 604.0 million in 2023[36]. - The current ratio was approximately 0.7 times, compared to 0.9 times in 2023, indicating a decline in liquidity[36]. - The group had a net current liability of approximately HKD 48,920,000 and a capital deficit of approximately HKD 48,293,000[188]. - The group has loans totaling approximately HKD 138,532,000 due on June 30, 2025, including HKD 126,771,000 from the controlling shareholder's term loan and HKD 11,761,000 from the revolving loan[188]. - The board has considered the group's cash flow situation and potential financial support from the controlling shareholder, Xizheng International Investment, to ensure operational continuity until March 31, 2026[192]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to expanding its disclosure scope regarding environmental, social, and governance performance[50]. - The environmental, social, and governance report covers the performance for the year ending December 31, 2024[49]. - The company has implemented energy-saving measures, including using energy-efficient appliances and regular maintenance of electrical systems[111]. - The company has established a green procurement policy, prioritizing suppliers that minimize environmental impact[97]. - The company has developed a climate policy to manage risks associated with climate change, integrating it into its risk management processes[104]. - The company has not reported any significant incidents of non-compliance with environmental laws and regulations in 2024[101]. Employee and Workforce Management - As of December 31, 2024, the company had a total of 30 employees, with a gender distribution of 53% male and 47% female[75]. - Employee turnover rate for the year was 23.1%, while the hiring rate was 20%[79]. - The company maintains a 100% full-time employment structure, with no part-time or temporary workers[84]. - The company has established a competitive compensation system based on fairness and market levels, regularly reviewing salaries in line with market conditions and inflation[88]. - Employee training on anti-money laundering was conducted, with 28 participants attending a seminar in October 2024, and all new employees required to complete online tests within their first month[60]. Risk Management - The group has established a robust internal control system to manage compliance and legal risks, with a three-line defense mechanism in place for risk management[194]. - Key risks identified include market risk, credit risk, liquidity risk, and operational risk, with market risk primarily affecting trading and asset management businesses[200]. - The group employs risk exposure metrics, concentration levels, and loss limits to mitigate excessive investment risks[200]. - Credit risk exposure is mainly associated with margin financing, fixed income financial assets, and securities lending arrangements[200]. - The group has enhanced monitoring and management of liquidity risk to ensure normal payment and settlement operations[200].

Financial Performance - The company reported a revenue of RMB 2,679.67 million for 2024, an increase of RMB 44.76 million, representing a growth of 1.70% compared to the previous year[10]. - Net profit attributable to shareholders was approximately RMB 420.45 million, remaining stable compared to the previous year[10]. - Gross profit for 2024 was RMB 1,868.79 million, with a gross margin of 69.7%[9]. - The company’s net profit margin was 15.6%, slightly down from 15.7% in the previous year[9]. - The company’s basic earnings per share for 2024 was RMB 1.80, compared to RMB 1.75 in 2023[9]. - The overall revenue for the company in the reporting period was approximately RMB 2,679.67 million, an increase of RMB 44.76 million or 1.70% from RMB 2,634.91 million in 2023[59]. - The company's gross profit margin for the reporting period was 69.74%, a slight decrease of 0.60 percentage points from 70.34% in 2023[61]. - Other income and gains for the reporting period amounted to approximately RMB 149.76 million, an increase of about RMB 15.47 million or 11.52% compared to RMB 134.29 million in 2023, primarily due to the recognition of performance compensation from minority shareholders of a subsidiary[62]. Research and Development - Research and development expenses amounted to RMB 238.93 million, an increase of RMB 18.83 million, reflecting a growth of about 8.56% and accounting for 8.92% of total revenue[11]. - R&D expenses for the reporting period were approximately RMB 238.93 million, an increase of about RMB 18.83 million or 8.56% from RMB 220.10 million in 2023, reflecting the company's ongoing investment in expanding its ophthalmology and medical aesthetics product lines[63]. - The company is actively developing advanced artificial lens products, including hydrophobic and hydrophilic extended depth of focus lenses, with clinical trials expected to begin in July 2024[39]. - The company is advancing its research on hydrophilic aspheric multifocal intraocular lenses, with clinical trials completed and registration expected in early 2025[42]. Product Development and Market Expansion - The company successfully launched the globally first organic cross-linked hyaluronic acid product "Hai Mei Yue Bai" in July 2024, and sodium hyaluronate eye drops were approved in March 2024[11]. - The company is expanding its product lines in aesthetic medicine and ophthalmology, with several key projects in clinical trials, including high oxygen permeability scleral lenses[11]. - The group’s hyaluronic acid product line achieved revenue of RMB 737.86 million in 2024, an increase of RMB 138.45 million, representing a growth rate of 23.10% compared to the previous year[28]. - The total revenue from medical beauty and wound care products reached RMB 1,189.22 million, up RMB 136.42 million, with a growth rate of approximately 12.96%[22]. - The company plans to expand the application of hEGF products into various medical fields, including pediatrics and oncology, beyond traditional uses[28]. - The company plans to focus on four rapidly developing treatment areas: medical beauty, wound care, ophthalmology, and orthopedics, emphasizing research and innovation[54]. Market Trends and Competitive Position - The market for non-surgical beauty treatments in China is expected to grow by about 10% in 2024, with a projected compound annual growth rate of 10-15% over the next four years[26]. - The Chinese medical beauty market size grew from RMB 99.3 billion in 2017 to RMB 189.2 billion in 2021, with a compound annual growth rate of 17.5%[24]. - The penetration rate of medical beauty treatments in China is significantly lower than in Brazil, the US, and South Korea, indicating potential for future market growth[24]. - The company achieved a market share increase in the orthopedic sector, rising from 46.54% in 2022 to 50.44% in 2023, solidifying its position as the leading manufacturer of viscoelastic supplements for joint injections in China[46]. Financial Management and Shareholder Returns - The company distributed a total of RMB 166,956,729.00 as final dividends and increased share capital by 66,782,692 shares by the end of July 2024[13]. - For the first half of 2024, the company distributed interim dividends totaling RMB 92,902,248.40[13]. - The board proposed a final dividend of RMB 0.6 per share (before tax) for the year ending December 31, 2024, totaling RMB 138,023,048.4 (before tax) based on the total issued shares of 233,193,695, after accounting for treasury shares[89]. - The company has adopted a dividend policy that emphasizes a balance between reasonable returns to investors and sustainable development[97]. - The company aims for a minimum cash dividend proportion of 80% for mature stages without significant capital expenditure[98]. Regulatory and Compliance - The company emphasizes the importance of environmental protection and has established and continuously improved its environmental management systems, ensuring compliance with pollution discharge standards[85]. - The company has not encountered any significant violations of environmental laws and regulations during the reporting period[85]. - The company has complied with all applicable provisions of the corporate governance code under the Hong Kong Listing Rules during the reporting period[186]. - There are no significant legal proceedings or arbitrations involving the company during the reporting period[187]. Employee and Management Structure - The company had approximately 2,156 employees as of December 31, 2024, with total employee compensation amounting to approximately RMB 692.94 million, an increase of about RMB 62.86 million from the previous year[70]. - The company’s employee compensation policy aims to enhance governance structure and motivate core teams to improve competitiveness[145]. - Non-executive directors receive fixed remuneration based on their background, experience, and responsibilities, with no additional director remuneration for executive directors[144]. Share Repurchase and Capital Management - The company repurchased 1,418,934 A-shares, accounting for 0.61% of total shares, with a total transaction amount of approximately RMB 106.27 million[13]. - A total of 2,492,100 H-shares were repurchased during the year, with a total expenditure of HKD 75,709,045.00[120]. - The board believes that the share repurchase enhances investor confidence and aligns the interests of shareholders, the company, and employees[121]. Governance and Stakeholder Engagement - The company maintains good relationships with stakeholders, including customers, shareholders, government agencies, employees, suppliers, and the community, to achieve medium- and long-term goals[86]. - The company has established a governance structure consisting of the general meeting of shareholders, the board of directors, the supervisory board, and the management team[195].

Financial Performance - For the fiscal year ending December 31, 2024, the group's revenue increased to approximately HKD 26,300,000, a 246% increase from HKD 7,600,000 for the fiscal year ending December 31, 2023[8] - The net profit for the fiscal year ending December 31, 2024, was approximately HKD 31,900,000, compared to a loss of HKD 27,800,000 for the previous year[8] - The securities brokerage and financial services segment reported a revenue increase of 209% to approximately HKD 13,600,000, up from HKD 4,400,000 in the previous year[12] - The asset management segment recorded a revenue increase of approximately 317% to HKD 12,500,000, compared to HKD 3,000,000 in the previous year[14] - The self-trading business segment achieved a profit of approximately HKD 23,700,000, recovering from a loss of HKD 11,200,000 in the previous year[15] - The trade finance segment recorded a profit of approximately HKD 200,000, an increase from HKD 100,000 in the previous year[16] - The significant revenue growth was attributed to successful execution of financial advisory and custody service agreements established in November 2023[8] Asset Management and Client Accounts - The total assets managed by the asset management division decreased by approximately 100% to about HKD 170,000, down from HKD 662,000,000 in the previous year[14] - The group maintained 775 client accounts in the securities brokerage segment, an increase from 765 accounts in the previous year[10] - The decrease in client trust bank accounts was approximately 50.9%, from HKD 45,400,000 to HKD 22,300,000[10] Cash and Current Assets - As of December 31, 2024, the company's cash and bank balances were approximately HKD 44 million, a decrease of about 6.8% from HKD 47.2 million in 2023[22] - The company's trust and independent account balances were approximately HKD 22.3 million, down about 50.9% from HKD 45.4 million in 2023[22] - Accounts receivable and other receivables decreased by approximately 77.4% to HKD 6.5 million from HKD 28.8 million in 2023, primarily due to customer repayments[22] - The company's total current assets and current liabilities as of December 31, 2024, were approximately HKD 143.3 million and HKD 29.2 million, respectively, compared to HKD 138 million and HKD 55.7 million in 2023[22] Strategic Plans and Business Development - The company plans to enhance its securities brokerage business by focusing on debt and equity capital market transactions to increase underwriting revenue[20] - The asset management division aims to establish more diverse funds and develop innovative financial products to expand its client base, particularly targeting high-net-worth individuals and professional investors[20] - The company is actively exploring the resumption of proprietary trading to diversify revenue sources and enhance overall profitability[20] Corporate Governance - The board consists of two executive directors, one non-executive director, and three independent non-executive directors as of December 31, 2024[37] - The company held a total of 6 board meetings during the year ending December 31, 2024, with attendance rates for directors ranging from 4/6 to 6/6[39] - The board is responsible for formulating the group's strategies and policies, approving annual budgets and business plans, and overseeing daily operations[39] - The company has adopted the standard code of conduct for securities trading as per the listing rules, ensuring compliance by all directors throughout the year[36] - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance accountability and transparency[35] - The independent non-executive directors represent over one-third of the board, ensuring robust independence in decision-making[38] - The company has established various committees, including the remuneration committee, nomination committee, and audit committee, to delegate specific responsibilities[41] - The board retains decision-making authority on all significant matters affecting the group, including strategy discussions and financial performance reviews[42] - The company has complied with the corporate governance code throughout the reporting period, ensuring adherence to principles and provisions[35] - The board has a balanced distribution of executive and non-executive directors, promoting independent and objective decision-making for the best interests of the company and its shareholders[38] Diversity and Employee Engagement - As of December 31, 2024, the company has a gender diversity ratio of 71% male employees and 29% female employees[58] - The company has established a Nomination Committee to evaluate the structure and composition of the board, ensuring compliance with diversity policies[57] - The Nomination Committee held one meeting during the fiscal year ending December 31, 2024, with all members present[54] - The company has a Compensation Committee consisting of three independent non-executive directors, which held one meeting during the fiscal year[48] - All directors participated in continuous professional development to enhance their knowledge and skills, with training records submitted for the fiscal year ending December 31, 2024[44] - The board currently consists of six members, including two executive directors and three independent non-executive directors, with a commitment to maintaining female representation[52] - The company has adopted a diversity policy aimed at ensuring the board possesses the necessary skills and diverse perspectives[52] Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report highlights the company's commitment to sustainable development and the integration of ESG principles into its business strategy[89] - An ESG working group has been established to collect relevant data and report on the company's ESG performance at least annually[90] - The report covers the company's operations in Hong Kong, including securities brokerage, asset management, and trading services[91] - The company plans to expand the scope of disclosures as its data collection systems mature and sustainable development efforts deepen[92] - The company achieved a significant reduction in greenhouse gas emissions, with total emissions decreasing from 48.45 tons of CO2 equivalent in 2023 to 16.96 tons in 2024, representing a reduction of approximately 65.0%[106] - The greenhouse gas emissions intensity per employee decreased from 2.56 tons of CO2 equivalent in 2023 to 1.00 ton in 2024, indicating a reduction of about 61.0%[106] - The company has implemented policies to promote environmental management practices, focusing on waste reduction, reuse, recycling, and alternative use[103] - The company has not identified any significant violations of environmental regulations during the reporting period, ensuring compliance with relevant laws[103] Employee Training and Development - The total percentage of employees trained in 2024 is approximately 47%, down from 53% in 2023[148] - The average training hours per employee in 2024 is approximately 5.91 hours, compared to 8.34 hours in 2023[148] - The percentage of male employees trained in 2024 is 86%, an increase from 80% in 2023, while female employees trained decreased to 14% from 20%[148] - 100% of the management team, including directors, received training in 2024, with an average training hour of 14.36[148] Compliance and Risk Management - The company has established comprehensive policies and procedures for anti-money laundering and "Know Your Customer" compliance[168] - The company has designed suspicious transaction monitoring models to improve the identification of potential money laundering activities[168] - The company will regularly review its preventive measures and reporting procedures to ensure their effectiveness[170] - The company is focusing resources on strengthening its core business operations and ensuring full compliance with regulatory requirements, which temporarily limits its ability to engage in community investment projects in 2024[171] Shareholder Relations - The company encourages shareholder participation in annual general meetings, providing at least 20 business days' notice for such meetings[82] - All resolutions presented at the annual general meeting held on May 31, 2024, were passed successfully[84] - The company has adopted a shareholder communication policy to enhance investor relations and ensure timely disclosure of information[84] Major Shareholders and Ownership - As of December 31, 2024, the major shareholder, Original Silver Holdings Limited, holds 601,100,000 shares, representing 68.15% of the company's issued share capital[200] - Original Silver Holdings Limited also has an interest in 1,917,000 shares (0.22%) through its wholly-owned subsidiary, Original Silver International Limited[200] - There are no significant contracts between any member of the group and any controlling shareholder or its subsidiaries as of December 31, 2024[196] - No directors or related entities have significant interests in any major transactions, arrangements, or contracts as of December 31, 2024[194]