Yadong Group Holdings Limited （於開曼群島註冊成立之有限公司） 股份代號 : 1795 2024 年 報 Yadong Group Holdings Limited (Incorporated in the Cayman Islands with limited liability) Stock Code : 1795 Yadong Group Holdings Limited 亞東集團控股有限公司 ANNUAL REPORT 年報 2024 2024 ANNUAL REPORT 目 | 公司資料 | 2 | | --- | --- | | 財務概要 | 4 | | 主席報告 | 5 | | 管理層討論及分析 | 7 | | 董事及高級管理層之履歷 | 12 | | 董事會報告 | 16 | | 企業管治報告 | 30 | | 環境、社會和管治報告 | 43 | | 獨立核數師報告 | 92 | | 綜合損益及其他全面收益表 | 97 | | 綜合財務狀況表 | 98 | | 綜合權益變動表 | 100 | | 綜合現金流量表 | 101 | | 綜合財務報表附註 | 103 | ...

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 3,022,377, representing a 30.1% increase from RMB 2,323,351 in 2023[19] - Gross profit increased to RMB 909,345, up 29.9% from RMB 699,999 in the previous year[19] - Net profit for 2024 was RMB 307,173, reflecting a 21.4% growth compared to RMB 252,940 in 2023[19] - Adjusted net profit rose to RMB 400,357, marking a 31.4% increase from RMB 304,714 in the prior year[19] - Basic earnings per share increased to RMB 1.26, an 18.9% rise from RMB 1.06 in 2023[19] - Profit before tax was RMB 363,274, a 27.8% increase from RMB 284,172 in 2023[19] - The gross margin remained stable at 30.1%, while the net profit margin slightly decreased to 10.2% from 10.9%[19] - The adjusted net profit margin improved to 13.2%, up from 13.1% in the previous year[20] Market Expansion and Strategy - The company plans to continue expanding its market presence and investing in new product development[19] - Future guidance indicates a focus on enhancing operational efficiency and exploring potential mergers and acquisitions[19] - Gushengtang served over 5.40 million people in 2024, with a cumulative total exceeding 22 million, solidifying its position as the largest TCM chain service provider in China[25] - Gushengtang aims to achieve a turnover of billions by enhancing talent management and organizational efficiency through initiatives like the Little Gu CRM system[36] - The company aims to expand its domestic service network, focusing on first-tier cities and planning to enter the Hong Kong market by 2025[53] - Gushengtang is committed to embracing TCM AI to improve consultation efficiency and provide comprehensive health management services[54] - The company has established a physician training system with three echelons: academic leaders, backbone physicians, and young physicians, to cultivate TCM talents[43] Customer Engagement and Retention - Gushengtang's user return rate increased to 67.1% in 2024, with nearly 460,000 cumulative member consumers and an annual membership retention rate exceeding 85%[43] - Member consumption revenue accounted for over 40% of total revenue, with average annual consumption revenue per member nearly twice that of non-member users since the launch of the membership service system in 2019[45] - The customer base has shown steady growth during the Reporting Period, indicating effective customer acquisition and retention strategies[105] - New customers increased to 889,070 in 2024 from 803,973 in 2023, representing a growth of approximately 10.6%[106] - Total accumulated customers at the end of 2024 reached 4,425,867, up from 3,536,797 in 2023, indicating a year-over-year increase of about 25.1%[106] Government Policies and Industry Trends - The government has emphasized the development of the "Silver Economy," which includes strengthening geriatric medicine departments and expanding TCM services for elderly care[30] - The PRC government has introduced policies to promote the development of TCM, encouraging private capital to establish TCM medical institutions with renowned physicians[78] - The national reimbursement programs now support "Internet +" TCM healthcare services, allowing for a markup of no more than 25% on decocting pieces[78] - The Implementation Plan for Revitalizing TCM coordinates eight major projects, emphasizing the development of TCM healthcare services and the synergy between TCM and western medicine[83] Operational Efficiency and Technology - The Group has established a digital clerk system to enhance customer interaction and improve customer experience, leading to increased customer visits and return rates[76] - The Group's client relationship management (CRM) system enables digital analytics on medical professional teams, improving operational efficiency[76] - The Group has built an intelligent prescription review platform to ensure compliance with national reimbursement programs[80] - The Group's closed-loop ERP system enhances digital operation and management across the entire business process, improving management efficiency[80] - The Group plans to enhance digital healthcare services through the introduction of smart hardware and AI physician assistants, aiming to improve customer reach and service efficiency[115] Financial Management and Investments - The company utilized RMB 313 million for a total of 80 share repurchases in 2024, proposing a final dividend of HK$0.41 per share, with total expected dividends for the year around RMB 118 million[46] - The company aims to maintain sufficient cash and credit lines to meet liquidity requirements and safeguard its ability to continue as a going concern[170] - The company has no foreign currency hedging policy but monitors foreign exchange exposures for potential future hedging measures[178] - The Group aims to establish a strategic reservation mechanism for TCM medicinal materials to mitigate risks related to price inflation and supply shortages[117] Employee Management and Development - As of December 31, 2024, the company had 2,915 employees, an increase from 2,659 employees as of December 31, 2023[195] - Employee distribution: 55% are physicians and other medical professionals, 21% in management and operations, 18% in sales and marketing, 4% in supply chain, and 2% in information technology and research and development[196] - The company provides internal training programs for new and existing employees, as well as external training opportunities for management and medical professionals[200]

ZIJING INTERNATIONAL FINANCIAL HOLDINGS LIMITED 紫荊國際金融控股有限公 司 2024 年報 2024 ANNUAL REPORT ZIJING INTERNATIONAL FINANCIAL HOLDINGS LIMITED 紫荊國際金融控股有限公 司 ZIJING INTERNATIONAL FINANCIAL HOLDINGS LIMITED 年 報 Annual Report 2024 紫荊國際金融控股有限公 司 1 紫荊國際金融控股有限公司 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公司帶有較高投 資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所主板買賣之證券承受較大的 市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，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報告 ...

目錄 | 公司資料 | 2 | | --- | --- | | 企業簡介 | 4 | | 主席報告 | 5 | | 管理層討論及分析 | 6 | | 董事及高級管理人員簡歷 | 26 | | 董事會報告 | 29 | | 企業管治報告 | 39 | | 環境、社會及管治報告 | 56 | | 獨立核數師報告 | 80 | | 綜合財務報表 | 87 | | 五年財務概要 | 192 | 2024 年 報 2024 ANNUAL REPORT 2024 Annual Report 年報 姜森林先生 （審核委員會主席） 屈衛東先生 胡曉琳女士 薪酬委員會 胡曉琳女士 （薪酬委員會主席） 張志祥先生 屈衛東先生 姜森林先生 公司資料 上市地點 香港聯合交易所有限公司 股份代號：00527 執行董事 袁萬永先生 （主席） 張志祥先生 （行政總裁） 寧忠志先生 獨立非執行董事 屈衛東先生 胡曉琳女士 姜森林先生 審核委員會 提名委員會 屈衛東先生 （提名委員會主席） 張志祥先生 胡曉琳女士 姜森林先生 公司秘書 黃鈺琪女士 授權代表 張志祥先生 黃鈺琪女士 主要往來銀行 香港： 中國銀行（香港）有限公司 中國民生銀行股 ...

普星能量有限公司 PUXING ENERGY LIMITED Annual Report 年度報告 2024 www.puxing-energy.com P U X I N G E N E R G Y L I M I T E D 普星能量有限公司 40/F., Dah Sing Financial Centre 248 Queen's Road East, Wanchai, Hong Kong 香港灣仔皇后大道東248號 大新金融中心40樓 PUXING ENERGY LIMITED 普星能量有限公司 Annual Report 2024 年度報告 CONTENTS 目錄 Financial Report 財務報告 普星能量有限公司 | 二零二四年年度報告 01 2 Corporate Information 公司資料 5 Shareholder Information 股東資料 6 Financial Highlights 財務摘要 7 Chairman's Statement 董事長報告 13 Management Discussion and Analysis 管理層討論及分析 29 Biographi ...

（於百慕達註冊成立之有限公司） （股份代號：1180） 2024 年 報 ANNUAL 2024 REPORT (Incorporated in Bermuda with limited liability) (Stock Code : 1180) ANNUAL REPORT 2024 年報 目 錄 | 公司資料 | 2 | | --- | --- | | 公司簡介 | 4 | | 董事會致辭 | 5 | | 管理層討論及分析 | 7 | | 董事及高級管理人員簡歷 | 22 | | 董事會報告 | 25 | | 企業管治報告 | 39 | | 環境、社會及管治報告 | 61 | | 獨立核數師報告 | 80 | | 綜合損益表 | 85 | | 綜合損益及其他全面收益表 | 86 | | 綜合財務狀況表 | 87 | | 綜合權益變動表 | 89 | | 綜合現金流量表 | 90 | | 綜合財務報表附註 | 92 | | 財務概要 | 154 | | 釋義 | 155 | 頁次 註冊成立地點 百慕達 董事會 執行董事 陳捷博士，主席兼董事總經理 （亦為單世勇先生的替任董事） 單世勇先生 張建軍先生 （於二 ...

Financial Performance - The operating revenue for the reporting period was RMB 753,108 million, a decrease of 7.3% compared to the previous year[4]. - The net profit attributable to shareholders of the parent company was RMB 46,809 million, reflecting a 2.3% increase year-on-year[4]. - The net cash flow from operating activities increased by 25.3% to RMB 139,436 million compared to the previous year[4]. - The basic and diluted earnings per share were both RMB 0.26, up 2.3% from the previous year[4]. - The return on equity was 3.0%, a decrease of 0.1 percentage points compared to the previous year[4]. - Net profit for the three months ending March 31, 2025, was RMB 51,885 million, compared to RMB 51,366 million for the same period in 2024, representing a growth of 1.0%[35]. - Operating revenue decreased to RMB 753,108 million from RMB 812,801 million, a decline of approximately 7.3% year-over-year[35]. - The company reported a total comprehensive income of RMB 53,164 million for the first quarter of 2025, compared to RMB 49,105 million in the same quarter of 2024, an increase of approximately 8.3%[35]. - The company achieved an operating profit of RMB 5.043 billion from sales, down RMB 1.720 billion from RMB 6.763 billion year-on-year[22]. - The operating profit for the oil and gas and new energy segment was RMB 46,093 million, up from RMB 43,077 million in the same period of 2024, reflecting an increase of approximately 7.0%[46]. Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 2,841,230 million, representing a 3.2% increase from the previous year[4]. - The company's total liabilities increased to RMB 1,077,428 million from RMB 1,043,144 million, an increase of about 3.3%[29]. - The total equity attributable to shareholders rose to RMB 1,564,643 million from RMB 1,515,371 million, reflecting an increase of approximately 3.2%[29]. - As of March 31, 2025, total assets increased to RMB 2,841,484 million from RMB 2,753,007 million as of December 31, 2024, reflecting a growth of approximately 3.2%[27]. - The company's total equity increased to RMB 1,763,818 million as of March 31, 2025, compared to RMB 1,709,623 million at the end of 2024[43]. - The company's non-current assets totaled RMB 2,152,207 million as of March 31, 2025, slightly down from RMB 2,161,907 million at the end of 2024[43]. Production and Sales - The company reported a total oil and gas equivalent production of 467.0 million barrels, a 0.7% increase from 463.7 million barrels year-on-year[15]. - Domestic oil and gas equivalent production reached 418.1 million barrels, up 1.2% from 413.0 million barrels in the same period last year[15]. - The company’s wind and solar power generation increased by 94.6%, reaching 1.68 billion kWh compared to 860 million kWh in the previous year[15]. - The average realized price of crude oil was $70.00 per barrel, down 7.2% from $75.41 per barrel in the previous year[14]. - The average sales price of domestic natural gas was $9.01 per thousand cubic feet, down 3.9% from $9.38 per thousand cubic feet year-on-year[14]. - Total sales of gasoline, kerosene, and diesel amounted to 36,776 thousand tons, a decrease of 6.3% compared to 39,258 thousand tons in Q1 2024[23]. - The sales of natural gas increased to 864.42 billion cubic meters, up 3.7% from 833.69 billion cubic meters year-on-year[25]. Cash Flow and Investments - Cash flow from operating activities generated RMB 139,436 million, an increase of 25.3% from RMB 111,257 million in the prior year[38]. - Cash and cash equivalents increased significantly to RMB 291,567 million from RMB 216,246 million, a growth of about 34.8%[27]. - Investment activities resulted in a net cash outflow of RMB 43,547 million, an improvement from RMB 60,404 million in the previous year[38]. - Cash flow from financing activities showed a net outflow of RMB 8,504 million, significantly reduced from RMB 65,439 million in the same period last year[38]. - The cash received from dividends increased significantly to RMB 2,463 million, compared to RMB 241 million in the same period of 2024, representing a substantial increase of approximately 927.0%[45]. Strategic Developments - The company acquired 100% equity of China Petroleum Group Electric Power Co., Ltd. in 2024, which will be consolidated into the financial statements from October 29, 2024[4]. - The company plans to increase its A-shares and H-shares holdings by no less than RMB 2.8 billion and no more than RMB 5.6 billion within 12 months starting from April 8, 2025[11]. - The company plans to enhance its marketing strategies and expand its non-oil business to improve profitability[22]. - The company maintains a stable financial condition and continues to focus on green and low-carbon transformation[14].

* FUTURE BRIGHT HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) (Stock code 股份代號：703) 2024 年 報 ANNUAL REPORT 僅供識別 CONTENTS 目錄 2 Financial Highlights 財務摘要 3 Important Dates 重要日期 4 Corporate Information 公司資料 6 Chairman's Statement 主席報告 11 Environmental, Social and Governance Report 環境、社會及管治報告 50 Corporate Governance Report 企業管治報告 70 Management Discussion and Analysis 管理層論述及分析 100 Profile of Directors 董事一覽 102 Profile of Senior Management 高級管理人員一覽 104 Directors' Report 董事會報告 1 ...

Financial Performance - Total revenue for 2023 was RMB 33,700,479, a decrease of 55.2% compared to RMB 15,097,560 in 2024[9] - The company reported a net loss attributable to shareholders of RMB 4,750,396 in 2024, a significant decline of 289.3% from a profit of RMB 2,510,076 in 2023[9] - Sales of polysilicon decreased by 50.3% to RMB 8,673,317 in 2024 from RMB 17,435,147 in 2023[9] - For the fiscal year ending December 31, 2024, the company's revenue was approximately RMB 15,098 million, a decrease of 55.3% from RMB 33,700 million in 2023, with a gross loss of RMB 2,510 million compared to a gross profit of RMB 11,692 million in 2023[41] - The company recorded a loss attributable to shareholders of approximately RMB 4,750 million in 2024, compared to a profit of RMB 2,510 million in 2023[41] - The overall gross margin turned negative at -16.6% for the year ending December 31, 2024, compared to a gross margin of 34.7% in 2023, reflecting the impact of declining average selling prices of photovoltaic products[67] Assets and Liabilities - Total assets decreased by 9.5% to RMB 74,874,157 in 2024 from RMB 82,768,172 in 2023[11] - The company's equity attributable to shareholders fell by 12.7% to RMB 37,177,048 in 2024 from RMB 42,587,016 in 2023[11] - The current ratio decreased by 25.5% to 1.17 in 2024 from 1.57 in 2023[11] - The company’s debt increased by 19.8% to RMB 19,095,320 in 2024 from RMB 15,939,071 in 2023[11] - Trade receivables and other receivables decreased from approximately RMB 17.9 billion on December 31, 2023, to about RMB 11.6 billion on December 31, 2024, primarily due to a reduction in trade receivables and notes receivable[87] - Total debt increased from approximately RMB 15.9 billion on December 31, 2023, to RMB 19.1 billion on December 31, 2024, with net debt rising from RMB 6.8 billion to RMB 9.2 billion[92] Production and Technology - The company has developed a proprietary silane fluidized bed (FBR) technology for silicon production, which offers low cost and low carbon footprint advantages[12] - GCL Technology's R&D investment reached 718 million yuan in the first half of 2024, accounting for over 8% of revenue, an increase of 3.8 percentage points year-on-year, marking a record high[24] - The cash cost of granular silicon reached a new industry low of 33.18 yuan per kilogram, providing a strong foundation for future performance reversal[27] - GCL-Poly's FBR granular silicon technology has achieved a cash production cost of 27.14 CNY/kg, with a product quality ratio exceeding 95% and a market share surpassing 25%[31] - The company has successfully reduced production costs of perovskite solar cells by 50%, achieving conversion efficiencies of 19.04% for single cells and 26.36% for stacked cells, maintaining a global leadership position[32] - GCL-Poly's granular silicon has set a world record with a carbon footprint of 14.441 kgCO2e/kg, and all production bases have achieved 100% coverage of sustainable supply chains certified by TÜV Rheinland[33] Market Position and Strategy - GCL Technology signed a long-term procurement contract for 425,000 tons of polysilicon with LONGi Green Energy, indicating strong demand and strategic partnerships[20] - The company plans to implement a dual-drive strategy focusing on both upgrading existing businesses and innovating new business expansions, aiming for a comprehensive development in silicon-carbon materials[35] - GCL-Poly has over 600,000 tons of silane gas production capacity, leading globally, with a domestic market share of approximately 25% for its high-purity silane gas[36] - The company has launched new businesses in carbon nanotubes and silicon carbide, with its semiconductor subsidiary achieving over 50% domestic market share in electronic-grade polysilicon[37] - The company aims to accelerate internationalization and enhance its brand, R&D, technology, and operational management on a global scale[40] Sustainability and ESG Initiatives - GCL Technology's carbon footprint management project, GCL Carbon Chain 2.0, was launched in collaboration with Ant Group and TÜV Rheinland, enhancing its sustainability initiatives[22] - The company achieved a carbon footprint certification of 14.441kgCO2e/kg for its FBR granular silicon, significantly reducing CO2 emissions by 10.48 million tons annually compared to traditional methods[60] - The company has established a dynamic carbon footprint tracking and management platform called "GCL Carbon Chain," promoting low-carbon standards in the photovoltaic industry[118] - The company saved approximately 22,374 million kWh of electricity and 1.4114 million tons of water resources in 2024, contributing to its environmental management goals[118] - The company implemented a comprehensive ESG management system in 2024, establishing clear responsibilities for various ESG indicators and achieving ISO 20400 certification for sustainable supply chain management[117] Corporate Governance and Leadership - The company has maintained compliance with the corporate governance code as per the listing rules for the year ending December 31, 2024[136] - The board consists of ten members, including six executive directors and four independent non-executive directors, ensuring a balanced structure[139] - The company is committed to high standards of corporate governance to maximize value for stakeholders through continuous review and assessment of systems and procedures[135] - The company has independent non-executive directors with diverse backgrounds and expertise, enhancing the board's effectiveness[139] - The company has adopted a nomination policy and board diversity policy effective from January 1, 2019, focusing on various diversity factors[179] Employee and Talent Management - GCL Technology received recognition as one of the "Best Employers in China" for 2023, highlighting its strong talent attraction capabilities[15] - The company aims to enhance its employee diversity and welfare, optimizing training systems and improving safety and health management[119] - The company promotes diversity at all employee levels, ensuring equal opportunities for training and career development[188] Financial Management and Shareholder Value - The company has announced a voluntary decision to cease any share buybacks in 2024 to ensure the sustainability of its R&D and operational stability amid intense competition in the photovoltaic industry[13] - The company has adopted a dividend policy that considers legal compliance and operational impact before declaring dividends[199] - The company plans to evaluate its dividend policy's effectiveness and make necessary revisions as needed[200]

HEBEI YICHEN INDUSTRIAL GROUP CORPORATION LIMITED 河北翼辰實業集團股份有限公司 股份代號 : 1596 2024 年 報 | 目 錄 | | | | --- | --- | --- | | | 2 | 公司資料 | | | 4 | 財務摘要 | | | 5 | 董事長致辭 | | | 7 | 管理層討論與分析 | | | 15 | 董事、監事及高級管理層之簡歷 | | | 22 | 董事會報告 | | | 43 | 監事會報告 | | | 45 | 企業管治報告 | | | 65 | 環境、社會及管治報告 | | | 108 | 審計報告 | | | 116 | 合併資產負債表 | | | 120 | 母公司資產負債表 | | | 122 | 合併利潤表 | | | 125 | 母公司利潤表 | | | 127 | 合併現金流量表 | | | 130 | 母公司現金流量表 | | | 132 | 合併所有者權益變動表 | | | 134 | 母公司所有者權益變動表 | | | 136 | 財務報表附註 | | | 260 | 釋義 | 河北翼辰實業集團股份有限 ...