金阳新能源二零二三年中期报告

BOARD OF DIRECTORS Executive DirectorsMr. LEUNG Tsz Chung (Chairman)Mr. ZHENG Jingdong Non-Executive DirectorMs. LIN Weihuan Ms. AN NaMr. CHEN ShaohuaProfessor ZHAO Jinbao BOARD COMMITTEES Audit CommitteeMr. CHEN Shaohua (Chairperson)Professor ZHAO JinbaoMs. AN Na Remuneration CommitteeMs. AN Na (Chairperson)Professor ZHAO JinbaoMr. CHEN Shaohua Nomination Committee Professor ZHAO Jinbao (Chairperson)Mr. CHEN ShaohuaMs. AN Na COMPANY SECRETARYMr. IP Pui Sum AUTHORISED REPRESENTATIVESMr. LEUNG Tsz ChungMr. ZHENG Jingdong STOCK CODE01121 01121 COMPANY WEBSITEwww.goldensolargroup.com www.goldensolargroup.com Corporate Information HEAD OFFICE IN THE PRC Huoju Industrial ZoneJiangnan TownLicheng DistrictQuanzhou CityFujian ProvincePRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG Room 504, 5/FOfficePlus @Sheung Wan93-103 Wing Lok StreetSheung WanHong Kong 93-1035504 REGISTERED OFFICE Cricket SquareHutchins Drive, P.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins Drive, P.O. Box 2681Grand Cayman KY1-1111Cayman Islands CAYMAN ISLANDS PRINCIPAL SHAREREGISTRAR AND TRANSFER OFFICE Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586Gardenia CourtCamana BayGrand Cayman KY1-1110Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586Gardenia CourtCamana BayGrand Cayman KY1-1110Cayman Islands HONG KONG SHARE REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong AUDITORSConfucius International CPA Limited PRINCIPAL BANKERS China Construction BankHSBCIndustrial Bank Golden SolarInterim Report 2023 Corporate Information1Financial Highlights4Management Discussion and Analysis5Other Information14Condensed Consolidated Statement of Profit or Loss andOther Comprehensive Income27Condensed Consolidated Statement of Financial Position28Condensed Consolidated Statement of Changes in Equity30Condensed Consolidated Statement of Cash Flows31Notes to the Condensed Consolidated Financial Statements32 Financial Highlights Profitability data(RMB million)RevenueGross profitLoss for the period Profitability ratios (%)Gross profit marginNet loss margin Assets and liabilities data(RMB million)Non-current assetsCurrent assetsCurrent liabilitiesNon-current liabilitiesShareholders' equity Asset and working capital dataCurrent asset ratios (%)Current ratios (time)Gearing ratios (%) Management Discussion & Analysis 2,14016.0%1.5551.341OEMHJT During the six months ended 30 June 2023 (the “Period”),the revenue of Golden Solar New Energy Technology HoldingsLimited(the“Company”)and its subsidiaries(collectivelyreferredto as the“Group”)increased by approximatelyRMB21.4 million or approximately 16.0% to approximatelyRMB155.5 million (2022: RMB134.1 million), which was mainlyattributable to the increase in revenue of Original EquipmentManufacturer(“OEM”)business and the business of castmonocrystalline silicon (“Cast-mono”) wafers and Cast-monoheterojunction (“HJT”) solar cells and modules (collectively as“Photovoltaic Products”). For the OEM business, though the Group still faced worseningmacroeconomicfactors such as domestic inflation andsluggish consumer demand in the United States of America(“US”), with the effort of the Group’s sales team, the revenueincreased by approximately 19.9% to approximately RMB111.3million for the Period in comparison to approximately RMB92.8million for the corresponding period in 2022. OEM1.1139,28019.9% Regarding the business of Photovoltaic Products, the sales forthe Period increased approximately by 33.8% to approximatelyRMB42.5million as compared to approximately RMB31.8million of the corresponding period in 2022. The major driverfor the increase in sales was the high efficiency HJT solarmodules which were sold to European and other overseascustomers of the Group. 4,2503,18033.8%HJT The substantial increase in gross profit margin of the Groupfor the Period to approximately 16.2% from approximately1.1% for the corresponding period in 2022 was also dueto the increase in gross profit margin for OEM business andPhotovoltaic Products business. 1.1%16.2%OEM Management Discussion & Analysis 1.2641.045i)111,200,0006,200ii)HJT4,9402.8iii)4501,110 The Group recorded a net loss for the Period of approximatelyRMB126.4million,as compared with the net loss ofapproximately RMB104.5 million of the corresponding periodin 2022. The net loss was mainly attributable to i) the grant ofshare options to subscribe for a total of 111,200,000 sharesof the Company on 12 April 2023 with an equity-settledshare-basedpayments of approximately RMB62.0 millionduring the Period. Such expense is a non-cash accountingitem which has no impact on the cash flow of the Group; ii)in preparation of the launch of HJT solar sunshade productsscheduledto take place in the second half of 2023,theresearch and development expenses of the Group increased toapproximately RMB49.4 million during the P