Financial Performance - The company's operating revenue for the first quarter was CNY 19,424,908,533, a decrease of 4.74% compared to CNY 20,391,635,931 in the same period last year[7]. - The net profit attributable to shareholders was a loss of CNY 144,080,456, improving from a loss of CNY 310,998,961 year-on-year[7]. - The net loss attributable to shareholders decreased by 53.67% year-on-year for the first quarter of 2025[18]. - Net loss for Q1 2025 was RMB 107,190,885, compared to a net loss of RMB 345,636,933 in Q1 2024, indicating an improvement[26]. - Operating profit for Q1 2025 was RMB -74,954,410, an improvement from RMB -260,723,886 in Q1 2024[25]. - The total comprehensive income for Q1 2025 was -107,049,466 RMB, compared to -353,833,302 RMB in Q1 2024, showing an improvement[27]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 264,555,584, a significant recovery from a negative cash flow of CNY 1,307,684,219 in the previous year[7]. - Cash and cash equivalents increased to RMB 6.94 billion as of March 31, 2025, compared to RMB 6.43 billion at the end of 2024[21]. - Cash and cash equivalents at the end of Q1 2025 increased to 4,364,094,631 RMB from 3,790,025,067 RMB at the end of Q1 2024[32]. - The net increase in cash and cash equivalents for Q1 2025 was 676,978,233 RMB, contrasting with a decrease of -638,569,141 RMB in Q1 2024[32]. - The company received cash from sales of goods and services amounting to 17,139,562,027 RMB in Q1 2025, slightly down from 17,787,707,600 RMB in Q1 2024[30]. - The total cash inflow from operating activities was 17,948,279,623 RMB in Q1 2025, down from 18,953,778,089 RMB in Q1 2024[30]. - The company reported a total cash outflow from operating activities of 17,683,724,039 RMB in Q1 2025, compared to 20,261,462,308 RMB in Q1 2024, indicating improved cost management[30]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 78,534,556,218, down 0.54% from CNY 78,962,973,613 at the end of the previous year[9]. - Total liabilities decreased to RMB 51,312,648,547 from RMB 51,641,921,412 year-over-year[23]. - Non-current assets totaled RMB 58,647,218,941, down from RMB 59,490,963,387[23]. - The company reported a decrease in total equity to RMB 27,221,907,671 from RMB 27,321,052,201 year-over-year[23]. Production and Sales - The company produced 4.57 million tons of pig iron, 5.15 million tons of crude steel, and 4.90 million tons of finished products, representing year-on-year increases of 1.68%, 4.99%, and 5.18% respectively[18]. - The sales volume of key steel products increased by 20.2% year-on-year, while automotive plate sales grew by 17.7%[18]. - The average daily pig iron output stabilized at 42,500 tons in March, with a reduction in fuel consumption by 10 kg and a decrease in pig iron cost by RMB 130 per ton compared to the previous month[18]. Shareholder Information - The company reported a total of 135,680 common shareholders at the end of the reporting period[14]. - The largest shareholder, Maanshan Iron & Steel Group Co., Ltd., holds 48.35% of the shares[15]. Cost Management and Strategy - The company attributed the decrease in net profit to a larger decline in raw material prices compared to steel prices, along with internal cost reductions[12]. - The company is focusing on cost reduction and quality improvement by optimizing procurement management and expanding supplier networks[18]. - The company is implementing a comprehensive cost reduction strategy centered on operational efficiency and quality standards[18]. - Total operating costs for Q1 2025 were RMB 19,633,078,382, down 6.00% from RMB 20,864,781,160 in Q1 2024[25]. Research and Development - Research and development expenses for Q1 2025 were RMB 208,520,047, compared to RMB 227,790,259 in Q1 2024, reflecting a decrease[25].

Financial Performance - The company reported a net loss of RMB 93.324 million for the fiscal year ending December 31, 2024, a decrease of 50.7% compared to a loss of RMB 188.820 million in 2023[9]. - The company reported a net loss of RMB 93.3 million for the year ended December 31, 2024, compared to a net loss of RMB 188.8 million for the year ended December 31, 2023, indicating ongoing investment in product pipeline development[26]. - Other income decreased from RMB 8.6 million in 2023 to RMB 2.7 million in 2024, primarily due to a reduction in foreign exchange gains and bank interest income[27]. - Cash and cash equivalents decreased by 45.2% from RMB 369.4 million as of December 31, 2023, to RMB 202.4 million as of December 31, 2024[40]. - The company’s total equity decreased to RMB 680.533 million in 2024 from RMB 773.857 million in 2023, a reduction of 12.0%[11]. - Total current assets decreased to RMB 299.027 million in 2024 from RMB 408.473 million in 2023, a decline of 26.8%[11]. Research and Development - Research and development expenses decreased to RMB 41.300 million in 2024 from RMB 111.743 million in 2023, reflecting a reduction of 63.0%[9]. - R&D expenses decreased from RMB 111.7 million in 2023 to RMB 41.3 million in 2024, a reduction of 63.0%[30]. - Employee benefits under R&D expenses dropped from RMB 36.7 million in 2023 to RMB 8.5 million in 2024, a decrease of 76.8%[31]. - The company aims to expand its product line and strengthen internal R&D capabilities while seeking deeper global partnerships and collaboration opportunities[14]. - The company plans to expedite clinical development and commercialization of Bioheart® and Iberis® to gain a first-mover advantage in the unmet BRS and RDN markets in China[28]. Product Development and Approval - The company’s core product, the Bioheart® bioresorbable stent, and the second-generation renal denervation system, Iberis®, have entered the registration phase, with Iberis® expected to receive approval in February 2025[12]. - The Iberis-HTN clinical data was published in the prestigious journal "Circulation," indicating the high quality and global recognition of the innovation behind the Iberis RDN system[13]. - The Iberis® RDN system achieved its primary clinical endpoint in a randomized controlled trial for primary hypertension patients, with detailed data presented at the 2023 China Interventional Cardiology Conference[21]. - The company completed its first commercial procedure for the Iberis® RDN system in Europe in February 2025, marking a significant milestone in its commercialization efforts[13]. Corporate Governance - The company has adopted the corporate governance code as its own to regulate its governance practices[93]. - The company recognizes the importance of good corporate governance in enhancing management and protecting shareholder interests[93]. - The board consists of three executive directors, including the general manager, and three independent non-executive directors, ensuring strong independence[96]. - The company has established effective mechanisms to support an independent board and ensure independent viewpoints in decision-making[97]. - The company has established three board committees: audit committee, remuneration committee, and nomination committee[112]. Risk Management - The company has established a comprehensive risk management policy to identify, assess, and monitor key risks related to its strategic objectives[134]. - The audit committee reviews and approves the risk management policy to ensure alignment with corporate goals and monitors significant risks[136]. - The company has implemented internal control policies to ensure effective operations and reliable financial reporting[133]. - The board is responsible for ensuring effective risk management and internal control systems are maintained and reviewed annually[133]. ESG and Sustainability - The report period for the environmental, social, and governance (ESG) report covers January 1, 2024, to December 31, 2024[174]. - The group has established a three-tier governance model for sustainable development, consisting of the Board of Directors, the ESG Working Group, and internal operational teams[184]. - The group has committed to providing innovative solutions for patients and actively participating in community activities to create value and fulfill social responsibilities[183]. - The group has implemented a comprehensive ESG management system to identify and evaluate risks associated with business operations[189]. - The company has identified five key ESG issues: innovation and technology, product service quality and safety, data security and customer privacy management, intellectual property protection, and business ethics and integrity[198]. Shareholder Engagement - The company emphasizes the importance of timely and non-selective disclosure of information for informed investment decisions[166]. - The company has adopted a shareholder communication policy to enhance effective communication with shareholders and investors[166]. - The board of directors will regularly review the shareholder communication policy to ensure its effectiveness[167]. - The company encourages shareholders to participate in annual general meetings and vote, ensuring their rights are protected[160]. Management and Personnel - The company has established a robust management team with diverse expertise in finance, technology, and regulatory compliance[79]. - The company is actively involved in employee incentive platforms, with key personnel holding partnership interests[81]. - The company aims to modernize its compensation practices and improve the overall balance of interests among shareholders through the 2022 H-share incentive plan[51]. - The company has implemented training programs for new employees to enhance their understanding of corporate culture and compliance awareness[91]. Financial Strategy - The company currently anticipates retaining all future profits for business operations and expansion, with no plans to declare or pay dividends in the near future[168]. - The planned use of net proceeds from the global offering includes approximately HKD 273.85 million for ongoing confirmatory clinical trials and commercialization of the core product Bioheart®[56]. - The company successfully raised approximately HKD 441.69 million from its global offering after deducting underwriting fees and related expenses[52].

Financial Performance - The company reported sales revenue of approximately HKD 75.5 million for the fiscal year ending December 31, 2024, a decrease of 9.2% compared to the previous year[4]. - The net loss for the period was HKD 47.4 million, significantly impacted by strategic investments in core R&D, which totaled approximately HKD 55.8 million[8]. - The total shareholder equity as of December 31, 2024, is approximately HKD 2,727,382,000, an increase from HKD 1,493,847,000 in 2023[26]. - The total assets as of December 31, 2024, amount to approximately HKD 3,201,631,000, compared to HKD 1,828,250,000 in 2023[26]. - The total liabilities as of December 31, 2024, are approximately HKD 474,249,000, up from HKD 334,403,000 in 2023[26]. - The bank borrowings as of December 31, 2024, total approximately HKD 90,493,000, down from HKD 115,499,000 in 2023[27]. - The group reported a post-tax fair value gain of HKD 1,329.8 million for the year, compared to a post-tax fair value loss of HKD 97.9 million in the fiscal year 2023[35]. - The group's gross profit margin for the year ended December 31, 2024, was 27.5%, an increase from 17.7% in 2023, primarily due to higher sales of metal components[130]. - The debt-to-equity ratio as of December 31, 2024, was 0.03, down from 0.08 in 2023, indicating a strong capital position[131]. Legal Matters - The company is required to repay RMB 103.5 million plus legal fees due to a court ruling against it, which overturned a previous favorable judgment[11]. - The company has filed for a final appeal with the Guangdong High People's Court regarding the unfavorable ruling, but the court has not yet decided whether to accept the appeal[11]. - The company has not made provisions for the legal claim as per HKAS 37, based on legal advice suggesting a high likelihood of a successful appeal[11]. - The company anticipates a retrial judgment by December 31, 2025, which could clarify uncertainties surrounding the litigation[19]. - The auditors are unable to determine when the litigation will be resolved or when a final judgment will be made[20]. Operational Strategy - The company aims to enhance operational efficiency in its high-end tooling business through optimized smart manufacturing processes and precise R&D based on customer needs[5]. - The company has established high-end tooling as a strategic growth area, aiming to increase market penetration through differentiated competition strategies[5]. - The company plans to accelerate market expansion in the smart firefighting helmet segment through dedicated development plans and resource allocation[6]. - Revenue from AI coverage systems and related products decreased, prompting the company to allocate additional resources to enhance competitiveness in commercial environments[8]. - The company is focusing on building a robust data platform and improving AI algorithms to provide innovative solutions that meet regulatory standards[5]. Employee and Workforce - The workforce consists of 179 employees and consultants, with competitive compensation packages including stock options and performance bonuses[7]. - The group employed approximately 179 employees as of December 31, 2024, an increase from 128 employees in 2023, and offers competitive compensation packages[38]. - Employee composition shows a significant increase in male employees to 92% in 2024 from 76% in 2023, while female employees decreased to 8% from 24%[88]. - The employee turnover rate rose to 53% in 2024 from 46% in 2023, with male turnover increasing to 56% from 20% and female turnover rising to 23% from 5%[88]. - The company maintained a 100% training participation rate for all employee categories in 2024, consistent with 2023[94]. Environmental, Social, and Governance (ESG) - The company aims to reduce air pollutant emissions by 10% by 2025, following an increase in emissions due to more operational vehicle trips in 2024[58]. - The company has established an Environmental and Waste Policy to continuously improve procedures and processes to minimize operational impacts on the environment[56]. - The company strictly complies with local regulations, including the Air Pollution Control Ordinance and the Environmental Protection Law of the People's Republic of China[57]. - The company has implemented monitoring procedures for air pollutants, waste, wastewater, and noise emissions[57]. - The board plays a key role in overseeing ESG issues and assessing related risks to operations[49]. - An ESG working group has been established to review and supervise ESG processes and risk management[52]. - The company engages stakeholders annually to assess the significance of ESG issues and prioritize them accordingly[53]. - The company emphasizes transparency and accountability through the establishment of the ESG working group, which includes independent directors[50]. Research and Development - The company submitted 828 patent applications, showcasing its commitment to innovation and product responsibility[99]. - The company continues to invest heavily in research and development for future technologies to maintain its business leadership position[138]. - The company is focused on advanced technology research and has participated in several key national projects, including the National High Technology Research and Development Program (863 Program)[114]. - The company is actively involved in the development of new technologies and products in the field of metamaterials and innovative space technology[115]. Shareholder and Corporate Governance - The company has undergone a share consolidation, merging every ten shares of HKD 0.01 into one share of HKD 0.10, effective January 31, 2024[149]. - The independent non-executive directors confirmed that all transactions conducted during the year were in the ordinary course of business and on normal commercial terms[168]. - The company has established a compensation policy based on employee performance, qualifications, and capabilities[163]. - The company has made arrangements for directors and senior management to purchase appropriate liability insurance[162]. - Major shareholder Huang Weizi holds 261,850,000 shares, representing approximately 42.53% of the total issued shares[175]. Community Engagement - The company has established a community investment policy to encourage employee participation in community activities[107]. - The company actively engages in promoting science, technology, and engineering education through community outreach and employee involvement[108].

Financial Performance - Revenue for the first quarter reached RMB 7,161,642,321, representing a 1.10% increase compared to RMB 7,083,601,678 in the same period last year[6] - Net profit attributable to shareholders increased by 31.80% to RMB 233,909,321 from RMB 177,469,351 year-on-year[6] - Basic earnings per share rose by 25.32% to RMB 0.11, up from RMB 0.09 in the previous year[6] - Net profit for Q1 2025 was RMB 344,906,499, representing a 18.1% increase from RMB 291,984,821 in Q1 2024[15] - Operating profit for Q1 2025 was RMB 522,626,995, up 47.0% from RMB 355,565,938 in Q1 2024[15] - Total operating revenue for Q1 2025 reached RMB 7,161,642,321, a slight increase of 1.1% compared to RMB 7,083,601,678 in Q1 2024[15] - Total operating costs for Q1 2025 were RMB 6,656,695,494, a decrease of 1.7% from RMB 6,770,044,998 in Q1 2024[15] - The company’s total comprehensive income for Q1 2025 was RMB 246,248,319, down from RMB 375,752,767 in Q1 2024[15] Cash Flow and Assets - The net cash flow from operating activities showed a significant decline of 199.22%, resulting in a negative cash flow of RMB -106,157,590[6] - The company reported a net cash flow from operating activities of -RMB 106,157,590 in Q1 2025, compared to RMB 106,994,109 in Q1 2024[18] - Cash and cash equivalents at the end of Q1 2025 totaled RMB 5,454,580,595, down from RMB 5,881,347,510 at the end of Q1 2024[19] - The company's cash and cash equivalents decreased to RMB 6,303,644,500 from RMB 6,809,002,574, representing a decline of approximately 7.41%[13] - Current assets totaled RMB 15,874,920,557, slightly up from RMB 15,791,607,023, indicating a marginal increase of about 0.53%[13] - Total assets at the end of the reporting period were RMB 71,068,870,929, a 2.24% increase from RMB 69,512,689,187 at the end of the previous year[6] - The company’s total non-current assets reached RMB 55,193,950,372, an increase from RMB 53,721,082,164, reflecting a growth of about 2.74%[13] Shareholder Information - The company reported a total of 42,849 shareholders as of March 31, 2025, with 42,840 being A-share shareholders[9] - The top three shareholders hold a combined 73.31% of the shares, with Hong Kong Central Clearing Limited holding 35.34%[10] Liabilities and Equity - Total liabilities increased to RMB 36,152,798,036 from RMB 34,614,884,740, which is an increase of about 4.45%[14] - The company's long-term borrowings stood at RMB 9,786,214,543, up from RMB 9,598,770,711, reflecting an increase of approximately 1.95%[14] - The total equity attributable to shareholders increased to RMB 30,483,590,615 from RMB 30,291,427,176, indicating a growth of about 0.63%[14] Operational Efficiency and Strategy - The company plans to continue focusing on increasing profitability through enhanced operational efficiency and strategic investments[6] - Non-operating income included government subsidies amounting to RMB 30,597,736, contributing positively to the financial results[8] Inventory and Receivables - Accounts receivable rose significantly to RMB 3,752,968,534, up from RMB 2,969,799,883, marking an increase of around 26.36%[13] - The company's inventory remained stable at RMB 3,096,903,917, compared to RMB 3,057,769,490, showing a slight increase of around 1.28%[13] - The company reported a total of RMB 806,087,922 in contract liabilities, up from RMB 715,946,303, which is an increase of approximately 12.66%[14] Financial Expenses - The company incurred financial expenses of RMB 309,432,477 in Q1 2025, significantly higher than RMB 182,064,693 in Q1 2024[15] Management and Location - The board of directors includes executive directors Li Yeqing (CEO) and Liu Fengshan (Vice President) as well as non-executive directors and independent non-executive directors[23] - The company is based in Wuhan, Hubei Province, China[23]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 * 二零二五年第一季度報告 本 公 司 董 事 會 謹 此 公 佈 本 公 司 二 零 二 五 年 第 一 季 度 報 告，本 報 告 之 截 至二零二五年三月三十一日止三個月財務報表乃根據中國會計準則編製、 未 經 審 計。 本報告乃依據上市規則第13.09條及第13.10B條 以 及《證 券 及 期 貨 條 例》（香 港法例第571章）第XIVA部 內 幕 消 息 條 文（按 上 市 規 則 所 定 義）發 佈。 遼 寧 港 口 股 份 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 公 佈 本 公 司 截 至 二 零 二 五 年 三 月 三 十 一 日 止 三 個 月 之 季 度 未 經 審 計 業 績（「二零二五 年第一季度報告」）。該 季 度 業 績 乃 根 據 中 國 會 計 準 則 編 製。本 公 告 乃 依 ...

Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching RMB 1.2 billion for the fiscal year 2024[2]. - Revenue for the year ended December 31, 2024, was RMB 2,018,334 thousand, a decrease of 15.06% compared to RMB 2,376,487 thousand in 2023[17]. - Gross profit for 2024 was RMB 505,540 thousand, reflecting a gross margin of 25.05%, down from 41.21% in 2023[17]. - Net profit for the year was RMB 69,755 thousand, a significant decline of 82.16% from RMB 391,553 thousand in 2023[17]. - Total assets as of December 31, 2024, amounted to RMB 9,396,152 thousand, down from RMB 10,027,159 thousand in 2023[17]. - Total liabilities decreased to RMB 1,316,964 thousand in 2024 from RMB 1,746,118 thousand in 2023, indicating improved financial stability[17]. - The company's equity attributable to shareholders was RMB 8,078,818 thousand, slightly down from RMB 8,279,316 thousand in 2023[17]. - Basic earnings per share for 2024 was RMB 0.10, a decrease from RMB 0.53 in 2023[17]. - The company reported a net profit of RMB 69.8 million for the year ended December 31, 2024, a decrease of 82.2% from RMB 391.6 million in 2023, resulting in a net profit margin drop to 3.5%[60]. - Other income and losses netted RMB 161.2 million in 2024, a decrease of 33.0% from RMB 240.5 million in 2023, primarily due to reduced interest income[52]. Market and Growth Strategy - The company provided a positive outlook for 2025, projecting a revenue growth of 10% to 12%[2]. - New product launches are expected to contribute an additional RMB 300 million in revenue next year[2]. - Market expansion plans include entering two new international markets by Q3 2025[2]. - The company aims to increase its market share by 3% in the next fiscal year through targeted marketing strategies[2]. - Future outlook includes potential market expansion and strategic partnerships to drive growth in the biopharmaceutical sector[12]. - The company plans to explore mergers and acquisitions to strengthen its market position and enhance its technological capabilities[12]. - The company is considering strategic acquisitions to enhance its product portfolio, with potential targets identified in the biotechnology sector[104]. - Market expansion plans include entering three new international markets by the end of 2025, targeting a 10% market share in each[104]. Research and Development - The company is investing RMB 200 million in R&D for new technologies aimed at enhancing product offerings[2]. - The company is focusing on research and development in antibody-drug conjugates (ADC) and CAR-T cell therapies to enhance its product pipeline[12]. - The company has established a key technology platform for biotechnology drug quality research, having applied for and published 12 patents in this area[40]. - The company has enhanced its in vitro metabolism platform for small molecule drugs, establishing MSD detection methods for oligonucleotide drugs and mass spectrometry methods for ADC drugs, covering various drug types including antibodies and gene therapy products[28]. - The company is committed to advancing innovative experimental models and organoid applications, particularly in tumor research and new drug development[86]. - The company plans to develop innovative non-human primate disease models, focusing on aging-related diseases such as obesity and diabetes, to support drug screening and preclinical evaluation[86]. Operational Efficiency - The management highlighted a focus on improving operational efficiency, targeting a 5% reduction in costs by the end of 2025[2]. - The board of directors highlighted the successful implementation of cost-cutting measures, resulting in a 5% reduction in operational expenses[104]. - The company aims to enhance operational efficiency and service quality through various innovative initiatives[18]. - The company is actively seeking strategic investment opportunities to enhance product R&D, product portfolio, channel expansion, and cost control[74]. Compliance and Risk Management - Compliance with various legal and regulatory requirements is critical; failure to adhere could adversely affect the company's reputation, business, financial condition, and future prospects[87]. - The company has maintained compliance with all relevant laws and regulations, with no significant legal issues reported during the period[121]. - The company complies with anti-bribery and anti-corruption regulations to mitigate risks associated with bribery and corruption[196]. - The company faces risks from fluctuating international economic conditions and reduced investment in pharmaceutical innovation, which may impact international business revenue and foreign exchange losses[87]. Human Resources and Talent Management - The company has formed a professional service team of 2,652 members as of December 31, 2024, to improve management levels and service efficiency[44]. - The company is committed to maintaining effective communication with shareholders through various channels, including shareholder meetings and corporate communications[198]. - The company recruits and retains talented employees through a comprehensive training system aimed at enhancing technical expertise and service quality[195]. - The company has an urgent need for talent in management, technology, and marketing due to business expansion, with challenges in attracting and retaining qualified personnel amid rising competition and costs[87]. Shareholder and Financial Management - The company proposed a final dividend of RMB 0.03 per share for the fiscal year ending December 31, 2024, down from RMB 0.16 in 2023, resulting in a total proposed dividend amount of approximately RMB 22.39 million compared to RMB 119.98 million in the previous year[115]. - As of December 31, 2024, the company's distributable reserves amounted to RMB 822.2 million[126]. - The company has repurchased a total of 2,656,100 A-shares in 2024, with a total transaction amount of RMB 42,658,273.40 (excluding transaction fees)[128]. - The company has no significant investments, acquisitions, or disposals during the reporting period[70]. Client and Supplier Relations - The company served approximately 852 clients, including blue-chip pharmaceutical companies and small to medium-sized biotech firms as of December 31, 2024[187]. - The largest customer accounted for 2.87% of the group's total revenue, while the top five customers represented 11.76% of total revenue[199]. - The company has established stable relationships with numerous major suppliers located in China[191]. - There were no significant complaints from clients regarding the company's services or products during the reporting period[190].

Financial Performance - The company reported a net profit attributable to shareholders of the parent of 11,403 million in 2023, an increase from 9,228 million in 2022, reflecting a growth of approximately 23%[21]. - Basic earnings per share for 2024 were reported at 1.31, up from 1.13 in 2023, indicating a year-over-year increase of about 16%[19]. - Total revenue for 2024 reached 220,215 million, compared to 213,958 million in 2023, representing a growth of approximately 1.2%[17]. - The company's revenue increased by 0.8% year-on-year to approximately RMB 215,691 million, while net profit attributable to shareholders rose by approximately 26.5% to RMB 11,403 million[27]. - Basic earnings per share reached RMB 1.31, representing a year-on-year increase of approximately 25.4%[27]. - The company's EBIT increased from approximately RMB 16,507 million in 2023 to approximately RMB 21,176 million in 2024, marking a year-on-year increase of approximately RMB 4,669 million or 28.3%[88]. - The gross profit for the year was approximately RMB 48,386 million, with a gross operating margin of approximately 22.4%, an increase of 2.1 percentage points from the previous year[83]. - The company anticipates sales revenue for 2025 to be between RMB 226.5 billion and RMB 237.3 billion, indicating a projected growth of approximately 5% to 10% compared to 2024[78]. Market and Product Development - The company plans to expand its market presence and invest in new technologies to enhance product offerings and drive future growth[10]. - The company is actively pursuing mergers and acquisitions to strengthen its market position and expand its product portfolio[10]. - The heavy-duty truck industry saw a sales volume of 902,000 units in 2024, a year-on-year decrease of 1%, while the agricultural equipment industry experienced a sales volume increase of 4.9% to 437,000 units[25]. - The company launched the world's first diesel engine with a base thermal efficiency of 53.09%, achieving a record for four consecutive years[27]. - New energy products, including hydrogen-powered trucks, commenced commercial operations and achieved industry-leading sales[33]. - The company introduced 6,000 full-platform products and completed the deployment of new energy vehicle 2.0 charging products[33]. - The company launched an AI brand, Tianyan, marking the first software-defined vehicle technology framework in the industry[33]. - The commercial vehicle segment achieved annual sales of 118,000 units, a year-on-year increase of 2%, enhancing both production scale and operational efficiency[34]. Research and Development - The establishment of the world's largest multi-source power comprehensive testing laboratory enhanced the company's R&D capabilities[27]. - The Group invested over RMB 3.2 billion in R&D for the engines segment, achieving an R&D intensity of nearly 6%[64]. - The Group established the world's first digital unmanned engine factory, featuring 100% automated machining and 80% automated assembly[64]. - The Group is constructing the Weichai (Yantai) New Energy Power Industrial Park, creating a world-class R&D and manufacturing base for new energy powertrains[64]. Corporate Governance and Management - The strategic development and investment committee has been restructured with new appointments to enhance governance and oversight[12]. - The company is focusing on environmental, social, and governance (ESG) initiatives, establishing a dedicated committee to address these areas[11]. - The company aims to strengthen its aftermarket business by offering integrated lifecycle product-service packages, focusing on Total Cost of Ownership (TCO) solutions[50][51]. - The company will enhance digital transformation by embedding advanced technologies into high-end product development, aiming for technological leadership[50][51]. - The company will strengthen corporate risk management and governance standards to ensure operational efficiency and asset security[50][51]. - The company is focused on expanding its leadership team with experienced professionals from diverse backgrounds to enhance strategic decision-making[165]. - The company aims to leverage its technological expertise and market presence to drive future growth and innovation in the automotive sector[164]. Financial Position and Cash Flow - As of December 31, 2024, total assets of the Group amounted to approximately RMB 343,879 million, with current assets at approximately RMB 184,750 million, a decrease from RMB 197,925 million as of December 31, 2023[104]. - Total liabilities as of December 31, 2024, were approximately RMB 221,921 million, compared to RMB 221,561 million as of December 31, 2023, with current liabilities increasing by approximately RMB 8,789 million, or 6%[104]. - The Group's total equity as of December 31, 2024, was approximately RMB 121,959 million, of which approximately RMB 86,696 million was attributable to equity holders of the Company[106]. - Net cash inflows from operating activities decreased by approximately RMB1,377 million year-on-year to RMB26,094 million, despite an increase in sales receipts by about RMB5,724 million[96][98]. - Net cash outflows from investing activities amounted to RMB28,911 million, an increase of approximately RMB23,174 million compared to the previous year, with cash received from investments increasing by RMB31,308 million[97][98]. Future Outlook - Future guidance indicates a positive outlook for revenue growth, driven by increased demand in key markets[10]. - The company plans to aggressively expand its new energy business and integrate resources to ensure growth that outperforms the industry[47][50]. - The company will focus on precision marketing and R&D to enhance product competitiveness and customer satisfaction, aiming for stable sales growth[49]. - In 2025, the company aims to accelerate innovation and transformation to achieve high-quality operational goals while maximizing efficiency[46]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 3.47 per 10 shares, based on a total of 8,715,671,296 shares, pending approval at the 2024 annual general meeting[43]. - On March 27, 2025, a cash dividend of RMB 3.47 per 10 shares is planned for distribution to shareholders[134].

Financial Performance - The company's operating revenue for Q1 2025 was RMB 323,134,237.51, representing a year-on-year increase of 0.81% compared to RMB 320,532,749.36 in the same period last year[7]. - The net profit attributable to shareholders of the listed company was a loss of RMB 11,910,593.71, compared to a loss of RMB 6,523,098.03 in the previous year, indicating a worsening performance[7]. - The basic and diluted earnings per share were both negative at RMB -0.02, worsening from RMB -0.01 in the previous year[7]. - Operating profit for Q1 2025 was a loss of RMB 8.31 million, compared to a profit of RMB 841,911.63 in Q1 2024[30]. - Net profit for Q1 2025 was a loss of RMB 10.54 million, compared to a loss of RMB 3.34 million in Q1 2024, indicating a worsening performance[30]. - The company reported a total comprehensive loss of RMB 10.65 million for Q1 2025, compared to a loss of RMB 2.96 million in Q1 2024[33]. Cash Flow - The net cash flow from operating activities was a negative RMB 58,387,506.08, compared to a negative RMB 53,158,582.98 in the same period last year[7]. - Cash inflow from operating activities for Q1 2025 was $278,458,588.43, an increase of 10.5% compared to $252,097,350.35 in Q1 2024[36]. - Cash outflow from operating activities for Q1 2025 was $336,846,094.51, up from $305,255,933.33 in Q1 2024, resulting in a net cash flow from operating activities of -$58,387,506.08[37]. - The net increase in cash and cash equivalents for Q1 2025 was -$59,948,143.08, compared to -$23,313,247.67 in Q1 2024[38]. - The ending balance of cash and cash equivalents for Q1 2025 was $350,624,246.30, down from $406,535,570.78 in Q1 2024[40]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 3,088,657,749.09, a slight increase of 0.07% from RMB 3,086,613,319.89 at the end of the previous year[9]. - The total liabilities as of March 31, 2025, were RMB 1.68 billion, an increase from RMB 1.67 billion as of December 31, 2024[27]. - Current liabilities totaled RMB 967,760,245.92, up from RMB 961,752,691.05, indicating an increase of approximately 0.8%[26]. - Total non-current assets were RMB 1,612,573,383.85, a slight decrease from RMB 1,616,549,071.25[25]. - The company's cash and cash equivalents decreased to RMB 433,792,851.69 from RMB 482,988,509.97, reflecting a decline of approximately 10.2%[24]. Shareholder Equity - The equity attributable to shareholders of the listed company decreased by 0.84% to RMB 1,075,096,336.77 from RMB 1,084,156,625.22 at the end of the previous year[9]. - Total equity attributable to shareholders was RMB 1.08 billion as of March 31, 2025, a slight decrease from RMB 1.08 billion as of December 31, 2024[27]. - The weighted average return on equity was -1.10%, down from -0.61% in the same period last year[7]. Research and Development - Research and development expenses increased significantly, contributing to the net loss for the period[14]. - Research and development expenses increased significantly to RMB 23.20 million in Q1 2025, up from RMB 14.17 million in Q1 2024, representing a growth of 63.73%[29]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 42,339[17]. - The company completed the initial grant registration of its 2023 restricted stock incentive plan on December 28, 2023[21]. - A total of 180,000 shares of restricted stock will be repurchased and canceled due to five individuals no longer meeting the incentive criteria[22]. - The company aims to enhance its long-term incentive mechanism to attract and retain talent, aligning the interests of shareholders, the company, and employees[21].

Financial Performance - In 2024, the company achieved a revenue growth of 8% year-on-year, with net profit attributable to shareholders increasing by 3%[7] - The company achieved a revenue of RMB 4,232.24 million for the year ending December 31, 2024, representing a 7.8% increase compared to RMB 3,926.81 million in the same period of 2023[53] - Total revenue for the year ended December 31, 2024, was RMB 4,232.24 million, an increase of 7.8% from RMB 3,926.81 million in 2023[55] - Property management service revenue increased by 12.4% to RMB 3,619.42 million, compared to RMB 3,221.36 million in the same period last year[55] - Value-added services revenue decreased by 15.9% to RMB 570.93 million, down from RMB 679.27 million in 2023, accounting for 13.5% of total revenue[56] - Gross profit for the period was RMB 793.46 million, a 6.3% increase from RMB 746.69 million in 2023, with a gross margin of 18.7%[59] - Net profit for the year was RMB 334.97 million, up 3.6% from RMB 323.35 million in 2023, with a net profit margin of 7.9%[71][72] Business Strategy and Operations - The company aims to turn operating cash flow positive by addressing potential liquidity pressures from related party receivables, focusing on asset-to-debt swaps and strict control measures[8] - The company is exploring structural opportunities in segmented markets, particularly enhancing value-added services for third-party owners and piloting commercial operation management at the Shanghai Wujiaochang shopping mall[8] - The company is transitioning from "digitalization" to "intelligentization," emphasizing the integration of AI technologies to enhance service models and customer satisfaction[8] - The company maintains a commitment to creating shareholder value through solid operational foundations, positive cash flow, and innovative business incubation[9] - The company is focused on optimizing its business structure and deepening digital transformation to enhance independence and sustainability[13] - The company aims to strengthen its core capabilities and adapt to market fluctuations while reducing reliance on related businesses[13] - The company is focused on a dual-driven strategy of solidifying core business and diversifying value-added services, aiming for long-term sustainable growth[42] Market Presence and Growth - The total managed area reached approximately 72.20 million square meters in 2024, representing a 12.7% increase compared to the same period in 2023, with third-party managed properties accounting for 61.7%[27] - The company signed new contracts covering an area of 15.698 million square meters in 2024, up from 13.154 million square meters in 2023, indicating a growth of approximately 19.1%[28] - The total contracted area as of the end of 2024 was approximately 83.32 million square meters, reflecting an 8.6% increase year-over-year[27] - The company has established a strong presence in first-tier and new first-tier cities, which account for 75.1% of the managed area, with the Guangdong-Hong Kong-Macau Greater Bay Area and Yangtze River Delta regions representing 64.2%[27] - Business property revenue accounted for 64.6% of the total property service revenue, while third-party property services represented 61.4% of the total property service revenue[30] Customer and Service Development - The group maintained a 100% retention rate for strategic customers, with new strategic customer contracts amounting to RMB 988.90 million[32] - Owner value-added services increased from 46% to 62.2% of total value-added services, indicating a structural transformation in the business model[35] - Revenue from owner value-added services reached RMB 355.38 million, representing a year-on-year growth of 13.8%[35] - The company has introduced innovative international service standards in residential property services, enhancing customer satisfaction and living experiences[20] - The company aims to provide customized and intelligent value-added services, transitioning from single to diversified service offerings[21] Digital Transformation and Technology - The company is focusing on digital transformation and has integrated resources to enhance decision-making efficiency and support sustainable business development[25] - The company is leveraging advanced technologies such as IoT, big data, and AI to improve operational efficiency and create maximum value for enterprise clients[16] - The group is focused on digital transformation, implementing a fully digital management platform for financial and business processes to enhance decision-making efficiency[39] - The company aims to transition from basic services to value co-creation, leveraging digital transformation and AI technology to enhance decision-making and service efficiency[49] Governance and Management - The company has appointed Yang Zhidong as the CEO and Executive Director, effective August 15, 2023[102] - The company has a strong management team with extensive experience in strategic planning and operational management[106] - The company has engaged independent directors with strong academic and professional backgrounds to enhance governance and strategic oversight[113] - The diverse expertise of the board members is expected to contribute positively to the company's future growth and market positioning[120] - The company emphasizes the importance of independent advice in its operational and management strategies through its board composition[114] Shareholder Returns and Dividends - The company is committed to providing sustainable returns to shareholders through stable and generous dividends[9] - The company reported a proposed final dividend of HKD 0.0628 per share for the fiscal year ending December 31, 2024, subject to shareholder approval at the annual general meeting on May 27, 2025[127] - The company is committed to maintaining liquidity to seize future growth opportunities while distributing dividends based on profitability and capital needs[130] Legal and Regulatory Compliance - The company is subject to various legal and regulatory factors that could impact its operations and financial performance[133] - The board is committed to adhering to the Hong Kong Stock Exchange's listing rules regarding director disclosures and remuneration practices[119] Future Outlook and Strategic Plans - The company plans to implement a "human-machine collaboration" service model in select projects to reduce operational costs and enhance service response speed[48] - By 2025, the company will enhance its sales and operations team collaboration to improve market responsiveness and operational efficiency[50] - The company will continue to explore digital transformation applications in external scenarios to drive growth and efficiency[49]

Financial Performance - The company recorded a consolidated loss attributable to shareholders of HKD 1,412,000,000 for the year ending December 31, 2024, compared to a loss of HKD 35,000,000 for the year ending December 31, 2023, indicating a significant increase in losses [12]. - Revenue increased to HKD 849,000,000 in 2024, up from HKD 814,000,000 in 2023, with 60% of revenue coming from Singapore and 31% from Hong Kong [12]. - The food business remains the primary source of revenue, contributing 86% of total revenue in 2024, with a growth rate of 6% compared to the previous year [12]. - Other operating expenses rose to HKD 200,000,000 in 2024, up from HKD 169,000,000 in 2023, primarily due to increased legal and professional fees [13]. - The company recorded a net fair value loss on financial instruments for the year, contrasting with a net fair value gain in 2023 [12]. - The group's property investment segment recorded total revenue of HKD 92 million, unchanged from 2023, primarily from recurring rental income and interest income from joint ventures [14]. - The group reported a net fair value loss of HKD 18 million on investment properties, an improvement from a loss of HKD 27 million in 2023, attributed to a decline in property values in Hong Kong [14]. - The group's share of losses from its joint venture, Lippo ASM Asia Property Limited, amounted to HKD 1.192 billion, a significant decline from a profit of HKD 174 million in 2023, mainly due to losses from OUE Group's investments in mainland China [16]. - The group's food business segment generated revenue of HKD 728 million, up 6% from HKD 687 million in 2023, driven by improved performance in Singapore and Malaysia [18]. - The financial and securities investment segment reported total revenue of HKD 17 million, down from HKD 21 million in 2023, with a net fair value loss of HKD 66 million compared to a gain of HKD 20 million in the previous year [19]. - The group's financial and securities investment portfolio decreased to HKD 1.008 billion as of December 31, 2024, down from HKD 1.189 billion in 2023 [20]. - The group experienced a loss of HKD 35 million in its food business segment, an improvement from a loss of HKD 55 million in 2023, despite ongoing challenges in the operating environment [18]. - The total assets of the group as of December 31, 2024, amounted to HKD 13.3 billion, a decrease from HKD 15.1 billion as of December 31, 2023 [36]. - The total liabilities increased to HKD 3.1 billion as of December 31, 2024, compared to HKD 2.2 billion as of December 31, 2023 [36]. - The equity attributable to the company's shareholders decreased to HKD 7 billion as of December 31, 2024, from HKD 9.1 billion as of December 31, 2023, equivalent to HKD 14.2 per share [39]. Special Distributions and Shareholder Engagement - The company announced a special interim distribution of up to 1,193,432,757 shares of Hongkong Chinese Limited to shareholders, providing flexibility in participation [6]. - The total distribution/dividend for the year amounts to HKD 322,227,000, with no interim dividend declared for the current year [47]. - A special interim distribution of up to 1,193,432,757 shares of Hongkong Chinese Limited (HKC) was made, with a distribution ratio of 2,420 HKC shares for every 1,000 shares held, based on a market price of HKD 0.27 per share [47]. - The company has adopted a dividend policy to enhance transparency for shareholders and investors, with details available in the corporate governance report [112]. - The company maintains ongoing dialogue with shareholders and has not made any amendments to its articles of association this year [161]. Economic Environment and Market Challenges - The economic environment in Hong Kong showed a moderate growth of 2.5% in 2024, while Singapore's economy grew by 4.4% [11]. - The company faced challenges in the food business due to decreased consumer spending and increased short trips abroad by local residents [5]. - The global growth rate is expected to be 3.3% in 2025, lower than the historical average of 3.7%, indicating a downward risk due to trade protectionism and geopolitical tensions [42]. - The GDP growth forecast for mainland China is expected to slow down due to tariff increases and industrial overcapacity, with Singapore's Ministry of Trade and Industry projecting GDP growth between 1.0% and 3.0% for 2025 [42]. Governance and Management - The company has a strong governance structure with experienced board members, including individuals with over 30 years of experience in finance and corporate governance [70][71][72][73]. - The company emphasizes market-level salary adjustments for directors based on their roles and responsibilities, ensuring competitive compensation [76]. - The board consists of independent non-executive directors who contribute to various committees, enhancing oversight and governance [71][72][73]. - The company has maintained transparency in disclosing director and executive compensation details in its financial reports [75]. - The company has established employment agreements for its directors, with terms ranging from two years starting from various dates in 2023 and 2024 [63]. - The company has appointed Dr. Li Wenzheng as honorary chairman to recognize his valuable contributions over the years [61]. - The company has a policy that one-third of the directors must retire at each annual general meeting, ensuring regular rotation and independence [126]. - The company has appointed Ms. Wu Minyan as an independent non-executive director to promote gender diversity on the board [125]. - The company has established a written guideline for employees regarding the trading of the company's securities, which is not more lenient than the standard code [123]. Risk Management and Compliance - The company has adopted a risk management and internal control system, which is reviewed annually for effectiveness, including financial, operational, and compliance monitoring [149]. - The company has identified key risks and uncertainties that may impact its financial condition and operational performance, detailed in the risk management report [111]. - The company has established a health and safety committee to monitor occupational health and safety, ensuring compliance with relevant laws and regulations [180]. - The company has implemented several key measures to enhance its risk management system for the fiscal year ending December 31, 2024 [178]. - The company has a risk management leadership team that oversees overall risk management activities [169]. - The company conducts annual reviews of the adequacy and effectiveness of its risk management and internal control systems [173]. - The company has established guidelines for the fair and timely disclosure of inside information to the public [149]. - The company has implemented a robust anti-corruption policy that sets basic behavioral standards for all directors and employees [198]. - The company conducted anti-corruption and ethics training for its directors and employees during the year [198]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance report for the year ending December 31, 2024, outlines the company's performance in sustainability efforts [186]. - The report covers the operations of the company and its subsidiaries in the food business, property development, property investment, and property management [187]. - The company aims to continuously optimize internal data collection processes and gradually expand the scope of disclosures [187]. - The environmental, social, and governance (ESG) report is prepared in accordance with the Hong Kong Stock Exchange's ESG Reporting Guide [190]. - The company has integrated ESG considerations into its annual operational decision-making processes [194]. - The board of directors is responsible for overseeing ESG-related matters, including climate-related issues [195]. - The company has established a comprehensive internal control and formal audit process to ensure the accuracy and reliability of the ESG report [196]. - The company is committed to protecting customer data privacy and respecting third-party intellectual property, implementing strict guidelines for data collection and handling [199]. - The company has a whistleblowing policy to maintain high standards of transparency and accountability, allowing employees to report misconduct confidentially [200].