Financial Performance - For the fiscal year 2024, the company's revenue was approximately RMB 930.8 million, a significant decrease of 52.3% compared to RMB 1,952.1 million in fiscal year 2023[10]. - The company recorded a net loss of approximately RMB 26.4 million in fiscal year 2024, compared to a net profit of approximately RMB 46.0 million in fiscal year 2023[11]. - Gross profit decreased from approximately RMB 212.6 million in fiscal year 2023 to approximately RMB 71.0 million in fiscal year 2024, representing a decline of about 66.7%[21]. - The gross profit margin for fiscal year 2024 was approximately 7.6%, down from 10.9% in fiscal year 2023[11]. - Revenue from construction contracts decreased by approximately RMB 1,021.3 million or 52.3% to about RMB 930.8 million in FY2024 from approximately RMB 1,952.1 million in FY2023[22]. - Revenue from civil construction projects fell by approximately RMB 445.5 million or 45.7% to about RMB 529.3 million in FY2024 from approximately RMB 974.8 million in FY2023[23]. - Revenue from municipal engineering dropped by approximately RMB 335.6 million or 54.3% to about RMB 282.8 million in FY2024 from approximately RMB 618.4 million in FY2023[24]. - Revenue from prefabricated steel structure engineering decreased by approximately RMB 230.0 million or 86.7% to about RMB 35.2 million in FY2024 from approximately RMB 265.2 million in FY2023[26]. - Trade receivables and other receivables increased from approximately RMB 453.5 million on December 31, 2023, to about RMB 528.5 million on December 31, 2024, due to customer payment delays[37]. - Cash and cash equivalents were approximately RMB 32.5 million as of December 31, 2024, down from approximately RMB 59.6 million in fiscal year 2023[18]. - Cash and cash equivalents decreased from approximately RMB 59.6 million on December 31, 2023, to about RMB 32.5 million on December 31, 2024, primarily due to cash outflows related to working capital needs[38]. Cost Management - The company managed to reduce administrative and other expenses from approximately RMB 125.5 million in fiscal year 2023 to approximately RMB 74.0 million in fiscal year 2024[12]. - The company maintained a stable debt-to-equity ratio of 23.0% as of December 31, 2024, reflecting prudent financial management in a challenging market[40]. Strategic Focus - The company plans to focus on strategic cooperation and regional diversification while continuing to invest in technology and talent development[19]. - The company aims to enhance operational efficiency and maintain compliance with regulatory requirements to ensure project quality and safety[15]. - The outlook for the construction and real estate industry in China remains volatile, but the company sees selective opportunities in infrastructure development and urban renewal projects[17]. Corporate Governance - The company adopted the corporate governance code as per the listing rules since its listing date in the fiscal year 2023, ensuring compliance until December 31, 2024[65]. - The board consists of four executive directors and three independent non-executive directors, with independent directors exceeding one-third of the board[67]. - The company has received annual confirmation letters from all independent non-executive directors regarding their independence, confirming no circumstances affecting their independence[71]. - The company has established mechanisms to ensure a strong independent element within the board, with at least three independent non-executive directors[77]. - The board is responsible for leading and controlling the company, overseeing business strategies and performance[74]. - The company has set guidelines for employees regarding the trading of its securities, ensuring compliance with the standard code[66]. - The nomination committee is responsible for reviewing board composition and monitoring the appointment and re-election of directors[76]. - The board of directors held three meetings and one annual general meeting in the fiscal year 2024, with all directors attending all meetings[83]. - The audit committee conducted two meetings to review accounting standards, internal audit effectiveness, and financial performance for the six months ending June 30, 2024, and the year ending December 31, 2024[92]. - The remuneration committee is responsible for advising on the remuneration policies for directors and senior management, and evaluating their performance[93]. - The company encourages directors to participate in relevant courses to enhance their knowledge and effectiveness in fulfilling their responsibilities[86]. - The company has established three committees: the audit committee, nomination committee, and remuneration committee, with clear written terms of reference[87]. - The audit committee consists of three members, including an independent non-executive director with appropriate accounting or financial management expertise[89]. - The company provides competitive remuneration packages to attract and retain high-quality employees, aligning with market standards[96]. - All directors have the right to access board documents and seek independent professional advice when necessary[85]. - The board has conducted an annual review of the mechanisms in place and believes they have been adequately implemented[81]. - The company held one meeting of the remuneration committee in the fiscal year 2024 to review and recommend compensation for directors and senior management[97]. - The nomination committee consists of three members, including the chairman of the board, and is responsible for recommending appointments and removals of directors[98][99]. - The company adopted a board diversity policy, ensuring that candidates are selected based on various diversity criteria, including gender, age, and professional experience[105]. - The board has reviewed its corporate governance policies and practices, ensuring compliance with legal and regulatory requirements[109]. - Directors are responsible for preparing the company's financial statements for the year ending December 31, 2024[110]. Shareholder Relations - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of business performance and strategy[121]. - The company has adopted a shareholder communication policy deemed sufficient and effective for the fiscal year ending December 31, 2024[131]. - The company’s website serves as a platform for shareholders to access corporate information and updates on governance and board composition[135]. Related Party Transactions - The construction service framework agreement with Hunan Hengji Real Estate, Wuguang Investment, and Hangxiao Technology has annual caps for construction service fees of RMB 390.5 million for FY2023, RMB 366 million for FY2024, and RMB 386 million for FY2025[167]. - The procurement framework agreement with Fangge Intelligent and Hangxiao Technology has annual caps for procurement of RMB 160 million for FY2023, FY2024, and FY2025[170]. - For FY2024, the expected payments to Hangxiao Technology under the procurement framework agreement are approximately RMB 42.07 million, down from RMB 111.41 million in FY2023[171]. - The company has confirmed that the annual caps for related party transactions are fair and reasonable for shareholders[175]. - Independent non-executive directors have reviewed the non-exempt continuing connected transactions and confirmed they are conducted in the ordinary course of business and on normal commercial terms[174]. - The company holds approximately 85.82% equity in Hunan Hengji Real Estate, which is primarily engaged in real estate development[167]. - The company holds 70% equity in Hunan Fangge Intelligent Energy-saving Technology, which provides auxiliary construction services and software[168]. - The company holds 68.29% equity in Hunan Zhongtian Hangxiao Steel Structure Technology, which specializes in steel structure design and manufacturing[168]. - The construction service framework agreements are set to expire on December 31, 2025[167]. - The company has complied with the disclosure requirements under the Listing Rules regarding related party transactions[176]. Stock Options and Shareholding - The stock option plan was adopted on March 10, 2023, allowing for a total of 48,000,000 shares to be issued, representing 10% of the total shares outstanding at the time of listing[179]. - The unexercised stock options available under the plan as of January 1, 2024, amount to 48,000,000 options, which is approximately 8.3% of the company's issued share capital[184]. - The maximum number of stock options that can be granted to service providers is capped at 4,800,000 shares, representing 1% of the total shares outstanding[183]. - The stock options can be exercised within a period determined by the board, not exceeding ten years from the offer date[186]. - The vesting period for stock options will be at least 12 months, with the possibility of shorter vesting periods at the board's discretion[187]. - The stock option plan will remain effective for a period of ten years from the adoption date, expiring on March 9, 2033[190]. - The company has maintained a public float of at least 25% of its issued shares since the listing date, in compliance with exchange regulations[193]. - As of December 31, 2024, ZT (A) holds approximately 46.35% of the company's shares, totaling 266,965,000 shares[198]. - The company's top five customers accounted for approximately 25.6% of total revenue in FY2024, down from 35.9% in FY2023[200]. - The largest single customer contributed about 8.06% of total revenue in FY2024, compared to 9.7% in FY2023[200]. - The top five suppliers represented approximately 22.7% of total purchases in FY2024, an increase from 19.5% in FY2023[200]. - The largest single supplier accounted for about 7.2% of total purchases in FY2024, up from 6.0% in FY2023[200]. - Mr. Yang holds a controlled interest in ZT (E) Limited with 13,164,000 shares, representing 2.29% of the company[194]. - Mr. Liu has a controlled interest in ZT (F) Limited with 3,376,000 shares, representing 0.59% of the company[194]. - Mr. Chen holds a controlled interest in ZT (H) Limited with 1,770,000 shares, representing 0.31% of the company[194]. - Mr. Min has a controlled interest in ZT (K) Limited with 812,000 shares, representing 0.14% of the company[194]. - ZT (A) is owned by 79 individual shareholders, including 12 directors or senior management members who collectively hold about 49.04%[198]. Miscellaneous - The company has no significant future investment or capital asset plans beyond those disclosed in previous announcements[43]. - As of December 31, 2024, the group employed 345 employees in China, an increase from 324 employees in 2023, with total employee costs for FY2024 approximately RMB 23.9 million compared to RMB 24.8 million in FY2023[48]. - The group made retirement plan contributions of approximately RMB 5.79 million in FY2024, up from RMB 5.45 million in FY2023[49]. - The group announced a placement of 96 million shares to raise approximately HKD 15.6 million, with a net amount of about HKD 15.2 million after expenses[53][55]. - The proceeds from the placement were fully utilized for preliminary expenses related to cultural exhibition projects and general working capital[56]. - In FY2024, the group sold a non-wholly owned subsidiary for approximately RMB 2.6 million, with no other significant investments or acquisitions reported[57]. - The board did not recommend any final dividend for the year ending December 31, 2024, consistent with the previous year[61]. - No significant events affecting the group's business or financial performance were noted after December 31, 2024[62]. - The annual general meeting is scheduled for June 27, 2025, with a suspension of share transfer registration from June 24 to June 27, 2025[63]. - The company recorded a distribution reserve of approximately RMB 66,989,000 as of December 31, 2024, compared to RMB 76,983,000 in 2023[154]. - The company was listed on the main board of the Stock Exchange on March 30, 2023[141]. - The company has not experienced any significant disputes with suppliers, customers, or stakeholders during the fiscal year 2024[149]. - The company has complied with relevant laws and regulations, with no significant violations reported in the fiscal year 2024[148]. - The company’s main business remains unchanged in the fiscal year 2024, focusing on engineering contracting in China[137]. - The company’s financial performance and business review for the fiscal year 2024 are detailed in the management discussion and analysis section of the annual report[146]. - The company has undergone a restructuring process in preparation for its listing, as detailed in the prospectus[140]. - The company’s headquarters and main operating location are situated in Zhuzhou, Hunan Province, China[138]. - The board is committed to balancing shareholder interests with prudent capital management when considering dividend payments[145].

Financial Performance - For the six months ended June 30, 2024, the group's unaudited revenue was approximately RMB 356.5 million, a decrease of about 47.7% compared to approximately RMB 681.4 million for the same period in 2023[1] - The group's gross profit fell from approximately RMB 79.5 million for the six months ended June 30, 2023, to approximately RMB 38.7 million, with a gross profit margin decreasing from about 11.7% to approximately 10.9%[1] - The loss attributable to the owners of the company for the six months ended June 30, 2024, was approximately RMB 22.7 million, compared to a profit of RMB 18.8 million for the same period in 2023[1] - Basic loss per share for the six months ended June 30, 2024, was approximately RMB 4.23, compared to earnings of RMB 4.27 per share for the same period in 2023[1] - Revenue for the six months ended June 30, 2024, was RMB 356,507 thousand, a decrease of 47.6% compared to RMB 681,356 thousand for the same period in 2023[15] - The company reported a net loss attributable to equity holders of RMB (21,551) thousand for the six months ended June 30, 2024, compared to a profit of RMB 18,824 thousand for the same period in 2023[23] - The company incurred research and development costs of RMB 9,352 thousand, a decrease of 48.0% from RMB 17,987 thousand in the previous year[19] - The company's revenue decreased significantly by approximately 47.7% from about RMB 681.4 million in the first half of 2023 to about RMB 356.5 million in the first half of 2024 due to reduced investment in construction projects by both private and public sectors[33] Revenue Breakdown - Revenue from civil construction projects was RMB 190,329 thousand, down 40.5% from RMB 320,311 thousand in the previous year[13] - Revenue from construction contracts in the first half of 2024 decreased by approximately RMB 323.3 million or 47.7% to about RMB 354.9 million compared to approximately RMB 678.2 million in the same period of 2023[34] - Revenue from civil engineering projects fell by approximately RMB 130.0 million or 40.6% to RMB 190.3 million in the first half of 2024, primarily due to the completion of major phases of projects in Hainan[35] - Revenue from municipal engineering dropped by approximately RMB 155.2 million or 63.6% to RMB 88.7 million, mainly due to the completion of several significant projects in 2023[36] - Revenue from foundation engineering decreased by approximately RMB 3.4 million or 44% to about RMB 4.3 million, as most foundation works are ancillary to civil or municipal projects[37] - Revenue from prefabricated steel structure engineering fell to approximately RMB 29.4 million, down from about RMB 91.3 million, due to reduced income from the project entering the later construction phase[38] - Revenue from other specialized contracting increased by approximately 180.9% to about RMB 42.1 million, attributed to the acquisition of 17 decoration and renovation projects[39] Dividends and Shareholder Returns - The board of directors decided not to declare an interim dividend for the six months ended June 30, 2024, consistent with the previous period[1] - The company did not declare or pay any dividends for the six months ended June 30, 2024, and 2023[22] - The board did not recommend the payment of an interim dividend for the first half of 2024, consistent with the previous year[69] Assets and Liabilities - As of June 30, 2024, total current liabilities were RMB 2,200.2 million, an increase from RMB 2,009.0 million as of December 31, 2023[4] - Trade receivables and other receivables increased to RMB 611.1 million as of June 30, 2024, from RMB 453.5 million as of December 31, 2023[4] - Contract assets rose to RMB 1,517.6 million as of June 30, 2024, compared to RMB 1,476.0 million as of December 31, 2023[4] - Non-current assets, including property, plant, and equipment, decreased to RMB 39.9 million as of June 30, 2024, from RMB 28.1 million as of December 31, 2023[4] - The company's total equity attributable to owners was RMB 494.1 million as of June 30, 2024, down from RMB 501.8 million as of December 31, 2023[4] - As of June 30, 2024, the group's net current assets were approximately RMB 472.1 million, a decrease from RMB 491.8 million as of December 31, 2023[51] - The current ratio decreased from approximately 1.32 on December 31, 2023, to approximately 1.27 on June 30, 2024, due to an increase in trade payables and accrued expenses totaling approximately RMB 210.1 million, which outpaced the increase in trade receivables of approximately RMB 199.1 million[51] - Total debt slightly increased from approximately RMB 114.4 million as of December 31, 2023, to approximately RMB 115.3 million as of June 30, 2024[51] - The debt-to-equity ratio rose from approximately 22.7% on December 31, 2023, to approximately 23.2% on June 30, 2024, primarily due to a 2% decrease in equity resulting from net losses during the period[51][60] Operational Challenges - The company faced significant challenges in the construction market due to a continuous decline in the real estate market and economic recession in China[32] - The company has adapted to the changing business environment by prioritizing resources in less affected sectors[32] Financing and Capital Management - The total available undrawn bank credit was approximately RMB 10.8 million, a decrease from about RMB 90 million in 2023[30] - The company’s interest expenses on borrowings decreased to RMB 2,702 thousand from RMB 4,054 thousand in the previous year[18] - The group maintained a prudent financing and treasury policy, closely monitoring liquidity to meet funding needs[52] - As of June 30, 2024, the group had no foreign exchange contracts to hedge against currency fluctuations, and the impact of foreign exchange risk was considered minimal[59] Corporate Governance - The audit committee was established on March 10, 2023, to oversee financial reporting, internal controls, and risk management[70] - The interim financial results for the first half of 2024 were reviewed by the audit committee, which agreed with the accounting policies adopted by the company[71] - The company has adopted corporate governance practices in compliance with the Hong Kong Stock Exchange's listing rules[72] Miscellaneous - As of June 30, 2024, the group had no significant contingent liabilities apart from ongoing litigation and claims arising from normal business operations[58] - There were no significant matters related to the company's business or financial performance noted after June 30, 2024[74]

Financial Performance - In the fiscal year 2023, the company's revenue was approximately RMB 1,952.1 million, an increase of about RMB 61.5 million or 3.3% compared to RMB 1,890.7 million in the fiscal year 2022[9]. - The net profit for fiscal year 2023 was approximately RMB 46.0 million, a decrease of about RMB 19.5 million or 29.8% from the previous year, primarily due to significant increases in financial and contract asset impairments totaling approximately RMB 14.8 million[9]. - The gross profit rose from approximately RMB 206.6 million in fiscal year 2022 to about RMB 216.2 million in fiscal year 2023, representing a year-on-year growth of approximately 4.4%[17]. - The revenue from construction contracts increased by approximately RMB 62.8 million or 3.3% to about RMB 1,944.2 million in fiscal year 2023, primarily driven by a significant revenue increase of approximately RMB 58.2 million or 896.5% from specialized construction projects[18]. - Revenue from civil construction projects surged by approximately RMB 116.9 million or 13.6% to RMB 974.8 million in fiscal year 2023, largely due to the resumption of the Dongfang City New Home (Phase II) project[19]. - The revenue from municipal engineering decreased by approximately RMB 116.7 million or 15.9% to RMB 618.4 million in fiscal year 2023, mainly due to the completion of key projects[21]. - The gross profit margin improved slightly from approximately 10.9% in fiscal year 2022 to about 11.1% in fiscal year 2023, with civil construction projects' gross margin increasing to approximately 11.8%[29]. Expenses and Impairments - The company incurred listing expenses of RMB 4.0 million in fiscal year 2023 due to its successful listing on the Hong Kong Stock Exchange[9]. - Administrative expenses increased by approximately RMB 11.4 million due to inflationary pressures and investments in operational efficiency and infrastructure[9]. - Administrative expenses rose from approximately RMB 117.5 million to about RMB 129.0 million, driven by increased research and operational costs[30]. - Financial and contract asset impairment increased significantly by approximately RMB 14.8 million or 582.3% to RMB 17.4 million in fiscal year 2023[32]. Market and Industry Context - The construction industry faced challenges in 2023, with real estate development investment in China decreasing by 9.6% and new construction project areas declining by 20.4%[8]. - The company remains cautiously optimistic about future market trends and is adjusting its strategies to respond to changing conditions[13]. Strategic Focus and Future Plans - The company is focused on enhancing project management capabilities, adopting innovative technologies, and improving safety practices to boost operational efficiency and customer satisfaction[12]. - Future strategies include cautious financial management and exploring growth opportunities while maintaining a rigorous approach to operational efficiency and cost optimization[13]. - The company aims to strengthen its market position and drive sustainable long-term growth despite the challenges faced in fiscal year 2023[13]. Shareholder and Corporate Governance - The company does not recommend any final dividend for the year ending December 31, 2023[56]. - The annual general meeting is scheduled for May 28, 2024, with a suspension of share transfer registration from May 23 to May 28, 2024[58]. - The audit committee was established on March 10, 2023, to oversee financial reporting and risk management processes[53]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific aspects of the company's affairs[83]. - The company ensures that at least one-third of the board members are independent non-executive directors, in compliance with listing rules[76]. - The company provides ongoing professional development for directors to enhance their knowledge and skills, ensuring they can effectively fulfill their responsibilities[89]. Risk Management and Compliance - The board is responsible for evaluating the nature and extent of risks acceptable in achieving strategic objectives, with an effective risk management and internal control system in place[119]. - The company has adhered to all relevant laws and regulations, with no major violations reported in the fiscal year 2023[152]. Employee and Board Diversity - The gender ratio of employees, including senior management, is approximately 237:52 as of December 31, 2023, indicating a commitment to gender diversity[112]. - The company has adopted a board diversity policy, ensuring at least one female board member, with plans to potentially increase this in the next five years[108]. Transactions and Agreements - The company has entered into non-exempt continuing connected transactions under the construction service framework agreement, which requires compliance with the listing rules[170]. - The procurement framework agreement with Fangge Intelligent and Hangxiao Technology has an annual cap of RMB 160 million for the fiscal years 2023, 2024, and 2025[175]. - The company has confirmed compliance with the listing rules regarding the disclosure of non-exempt continuing connected transactions[181]. Stock Options and Remuneration - The company has adopted a stock option plan on March 10, 2023, to reward directors and eligible participants[165]. - The stock option plan allows for a total of 48 million shares to be issued, representing 10% of the company's issued share capital[188]. - The remuneration policy includes fixed salaries and variable compensation linked to company performance[100].

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，並明確表示概不就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。 Zhongtian Construction (Hunan) Group Limited 中天建設（湖南）集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2433） 截至2023年12月31日止年度的業績公告 中天建設（湖南）集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣 佈本公司及其附屬公司（統稱「本集團」）截至2023年12月31日止年度（「2023財年」） 連同截至2022年12月31日上一年度（「2022財年」）的經審核比較數據的綜合業績 如下： 財務概要 於2023財年，建築合約產生的收益由2022財年的約人民幣1,881.4百萬元增加 約人民幣62.8百萬元或3.3%至2023財年的約人民幣1,944.2百萬元。 於2023財年，我們的整體毛利率保持相對穩定，2022財年約為10.9%及2023財 政年度約為11.1%。 我們於2023財年的純利較2022財年減少 ...

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 681,356 thousand, a decrease of 10.1% compared to RMB 758,279 thousand in the same period of 2022[5] - Gross profit for the same period was RMB 79,487 thousand, down 4.0% from RMB 83,111 thousand in 2022[5] - Profit before tax decreased to RMB 21,952 thousand, a decline of 20.8% from RMB 27,703 thousand in the previous year[5] - Net profit attributable to the owners of the company was RMB 18,824 thousand, down 20.5% from RMB 23,604 thousand in 2022[5] - Basic and diluted earnings per share for the period were RMB 4.47, compared to RMB 6.56 in the same period last year[5] Assets and Liabilities - Total assets as of June 30, 2023, were RMB 1,887,947 thousand, an increase from RMB 1,744,024 thousand at the end of 2022[8] - Current liabilities amounted to RMB 1,422,941 thousand, slightly up from RMB 1,404,586 thousand at the end of 2022[8] - The company's equity attributable to owners increased to RMB 485,012 thousand from RMB 359,731 thousand at the end of 2022[9] - Cash and cash equivalents decreased to RMB 71,596 thousand from RMB 151,661 thousand at the end of 2022[8] - The company reported a significant increase in contract assets to RMB 1,259,334 thousand, up from RMB 1,127,150 thousand at the end of 2022, indicating potential growth in future revenues[8] Cash Flow - Operating cash flow for the six months ended June 30, 2023, was RMB (178,362) thousand, a decrease from RMB (106,289) thousand in the same period of 2022, representing a decline of approximately 67.7%[14] - Cash flow from investment activities showed a net inflow of RMB 107,030 thousand, compared to a net outflow of RMB (240) thousand in the previous year[17] - The company’s financing activities resulted in a net cash outflow of RMB (8,733) thousand, compared to a net inflow of RMB 59,109 thousand in the same period of 2022[17] - Total cash and cash equivalents decreased to RMB 71,596 thousand at the end of June 2023, down from RMB 151,661 thousand at the beginning of the period, a reduction of approximately 52.8%[17] Revenue Breakdown - Revenue from civil construction projects was RMB 320,311,000, down 9.8% from RMB 355,068,000 in 2022[33] - Revenue from construction contracts decreased to approximately RMB 678.2 million in the first half of 2023, down RMB 76.5 million or 10.1% from RMB 754.7 million in the first half of 2022[78] - Revenue from municipal engineering fell to RMB 243.9 million, down RMB 22.2 million or 8.3% from RMB 266.1 million in the first half of 2022[82] - Revenue from foundation engineering significantly decreased by RMB 9.3 million or 55.0% to approximately RMB 7.7 million in the first half of 2023[83] - Other specialized contracting revenue increased to approximately RMB 15.0 million, up from RMB 3.4 million in the first half of 2022[85] Expenses and Costs - Financial costs increased to RMB 4,054 thousand in the first half of 2023, compared to RMB 2,436 thousand in the same period of 2022, marking an increase of approximately 66.5%[14] - Administrative expenses decreased from approximately RMB 46.2 million to approximately RMB 37.2 million in the first half of 2023, mainly due to a reduction in R&D costs by approximately RMB 5.2 million and a decrease in employee discretionary bonuses leading to a reduction in salaries and other benefits by approximately RMB 2.6 million[92] - Listing expenses for the first half of 2023 amounted to approximately RMB 11.0 million, compared to RMB 4.0 million in the same period of 2022[93] Shareholder Information - The company did not declare or pay any dividends for the six months ended June 30, 2023[51] - The authorized share capital increased to RMB 45,000,000 as of June 30, 2023, from RMB 342,000 as of December 31, 2022, representing a significant increase of 13,125%[71] - The company issued 120,000,000 new shares at a price of HKD 1.18 per share, raising approximately RMB 125,215,000, with RMB 1,061,000 allocated to share capital[72] Corporate Governance - The company has adopted and complied with the corporate governance code as per the listing rules since its listing date[132] - The company has established guidelines for employees regarding the trading of its securities, adhering to the standards set forth in the code of conduct[135] - The company has a non-competition agreement with its controlling shareholder, ZT (A), effective from March 17, 2023[138] Other Financial Metrics - The company reported a decrease in inventory by RMB 291 thousand, contrasting with a decrease of RMB 2,311 thousand in the previous year[14] - The company’s contract liabilities increased by RMB 33,307 thousand, up from RMB 7,111 thousand in the same period of 2022, indicating a growth of approximately 368.5%[14] - The total amount of unfulfilled performance obligations was RMB 1,880,885,000 as of June 30, 2023, compared to RMB 1,304,590,000 at the end of 2022[39]

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，並明確表示概不就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。 Zhongtian Construction (Hunan) Group Limited 中天建設（湖南）集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2433） 截至2023年6月30日止六個月之 中期業績公告 財務摘要 — 截至2023年6月30日止六個月，本集團未經審核收入約為人民幣681.4百 萬元，相較於2022年同期的約人民幣758.3百萬元減少約10.1%。 — 本集團的毛利率由截至2022年6月30日止六個月的約11.0%增加至截至 2023年6月30日止六個月的約11.7%。 — 截至2023年6月30日止六個月，本公司擁有人應佔溢利約為人民幣18.8百 萬元（截至2022年6月30日止六個月：人民幣23.6百萬元）。 — 截至2023年6月30日止六個月，每股基本盈利約為人民幣4.47分（截至2022 年6月30日止六個月：人民幣6.56分）。 — 董事會決定不宣派截至2 ...

Financial Performance - The company's revenue for the fiscal year 2022 was approximately RMB 1,890.7 million, an increase of RMB 67.3 million or 3.7% compared to RMB 1,823.4 million in fiscal year 2021[10] - Gross profit rose from approximately RMB 195.6 million in fiscal year 2021 to about RMB 206.6 million in fiscal year 2022, representing a year-on-year growth of approximately 5.6%[10] - Net profit increased from approximately RMB 61.9 million in fiscal year 2021 to about RMB 65.5 million in fiscal year 2022[10] - The gross margin and net margin for fiscal year 2022 were approximately 10.9% and 3.5%, respectively[10] - Revenue growth rate for FY2022 was 3.7%, compared to 3.0% in FY2021[44] - Net profit rose from approximately RMB 61.9 million in FY2021 to approximately RMB 65.5 million in FY2022, an increase of RMB 3.6 million or 5.8%[48] - Gross margin improved slightly from approximately 10.7% in FY2021 to approximately 10.9% in FY2022[49] - Net profit margin remained stable at 3.4% in FY2021 and 3.5% in FY2022 despite an increase in gross profit[50] - Return on assets increased from 3.3% in FY2021 to 3.7% in FY2022 due to the growth in net profit[51] - Return on equity decreased from 21.7% in FY2021 to 18.7% in FY2022, primarily due to a 22.6% increase in equity[52] Revenue Breakdown - Revenue from construction contracts increased by approximately RMB 67.3 million or 3.7% to RMB 1,881.4 million in fiscal year 2022, primarily driven by a significant increase in municipal engineering revenue[11] - Municipal engineering revenue surged by approximately RMB 307.3 million or 71.8% to RMB 735.0 million in fiscal year 2022[15] - Revenue from civil construction projects decreased by RMB 27.4 million or 3.1% to RMB 857.9 million in fiscal year 2022, mainly due to the completion phase of several projects[12] - Revenue from foundation engineering decreased by approximately RMB 89.9 million or 78.7% from RMB 114.2 million in FY2021 to RMB 24.3 million in FY2022[16] - Revenue from prefabricated steel structure engineering fell from approximately RMB 369.8 million in FY2021 to RMB 257.7 million in FY2022, a decrease of about RMB 112.1 million or 30.3%[17] - Other specialized contracting engineering revenue decreased from approximately RMB 17.2 million in FY2021 to RMB 6.5 million in FY2022, a decline of about RMB 10.7 million or 62.2%[18] - New projects, such as the Kai Rui Si (Phase I) project, contributed approximately RMB 105.2 million in revenue during fiscal year 2022[12] Cost and Expenses - Total labor and subcontracting costs decreased by approximately 14.1% in FY2022 compared to FY2021, primarily due to reduced labor needs for major projects[22] - Administrative expenses slightly increased from approximately RMB 116.5 million in FY2021 to RMB 117.5 million in FY2022, mainly due to a rise in R&D expenses[28] - The total cost of raw materials increased by approximately 3.5% from RMB 1,627.7 million in FY2021 to RMB 1,684.1 million in FY2022, aligning with revenue growth[21] - Listing expenses rose from approximately RMB 4.5 million in FY2021 to RMB 6.2 million in FY2022[30] Assets and Liabilities - Current assets increased from approximately RMB 266.2 million on December 31, 2021, to approximately RMB 339.4 million on December 31, 2022, driven by a net profit of approximately RMB 65.5 million generated in FY2022[37] - Trade receivables and other receivables decreased by 20.4% from approximately RMB 445.4 million in FY2021 to approximately RMB 354.7 million in FY2022[38] - Contract assets decreased from approximately RMB 1,216.1 million on December 31, 2021, to RMB 1,127.2 million on December 31, 2022, due to efforts in expediting settlement reviews[39] - Trade payables decreased from RMB 1,166.1 million on December 31, 2021, to RMB 803.4 million on December 31, 2022, reflecting accelerated repayments[40] - Total debt increased from approximately RMB 86.1 million on December 31, 2021, to approximately RMB 155.3 million on December 31, 2022, primarily due to an increase in bank borrowings[42] - The company's asset-liability ratio increased from 22.7% in FY2021 to 39.0% in FY2022[44] - The interest coverage ratio decreased from 21.3 times in FY2021 to 11.0 times in FY2022[44] - Debt-to-equity ratio increased from approximately 22.7% on December 31, 2021, to 39.0% on December 31, 2022, due to increased bank borrowings[61] Corporate Governance - The company successfully listed on the Hong Kong Stock Exchange on March 30, 2023, marking a significant milestone for future business expansion[7] - The board currently consists of five executive directors and three independent non-executive directors, ensuring a balanced skill set and experience necessary for the group's operations[83] - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, with clear written terms of reference for each[103] - The Audit Committee consists of three members, including an independent non-executive director with appropriate accounting or financial management expertise, responsible for monitoring the accuracy of financial statements and internal controls[107] - The company has mechanisms in place to ensure a strong independent element within the board, aiming for at least three independent non-executive directors[94] - The company has not held any board meetings or shareholder meetings during the 2022 financial year, as it was only listed on March 30, 2023[105] - The Nomination Committee is responsible for reviewing the composition of the board and overseeing the appointment and re-election of directors[89] - The company provides ongoing professional development for directors to ensure they are well-informed and capable of contributing effectively[102] Shareholder Relations - The company encourages shareholders to attend annual general meetings and allows for proxy voting[140] - The company maintains a website for effective communication with shareholders and investors, providing access to financial and other relevant information[137] - The company has adopted a shareholder communication policy to enhance engagement with shareholders[138] Future Plans and Commitments - The company emphasizes its commitment to sustainable development and community engagement as part of its long-term strategy[7] - The group aims to expand its business by funding future project capital needs and cash flow, enhancing its market position, and investing in engineering machinery and equipment[79] - The company is committed to strengthening its R&D capabilities in line with the latest trends in the Chinese construction industry, including opportunities in the EPC model and green building[79] Stock Options and Employee Compensation - The company has adopted a stock option plan to attract and retain talented employees, with details provided in the prospectus[176] - The stock option plan allows for the issuance of up to 48,000,000 shares, representing 10% of the total issued shares at the time of listing[196] - The company has not entered into any management contracts for the execution of its business operations during the fiscal year 2022[193] - The company's compensation policy aims to provide competitive but not excessive remuneration to attract and retain high-quality employees[110] Compliance and Risk Management - The company has complied with relevant laws and regulations, with no significant violations reported during the fiscal year 2022[162] - The board believes that the risk management and internal control systems are effective and adequate, although they are designed to manage rather than eliminate risks[129] - The company has established procedures to provide sufficient resources and qualified personnel to fulfill internal audit responsibilities[129]

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，並明確表示概不就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。 Zhongtian Construction (Hunan) Group Limited 中天建設（湖南）集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2433） 截至2022年12月31日止年度的財務業績 本公告乃由中天建設（湖南）集團有限公司（「本公司」，連同其附屬公司統稱「本 集團」）根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」） 第13.49(1)條附註刊發。 本公司股東及潛在投資者務請注意，本集團截至2022年12月31日止年度的初步 業績（如上市規則第13.49(1)條所規定）載於本公司日期為2023年3月20日的招股 章程附錄三，可於聯交所網站(www.hkexnews.hk)及本公司網站(www.ztcon.com) 查閱。 承董事會命 中天建設（湖南）集團有限公司 董事會主席兼執行董事 楊中杰 香港，2023年3月31日 於本公告日期，董事會包括董事會 ...