
(Incorporated in the Cayman Islands with limited liability)Stock Code股份代號 :3389(於開曼群島註冊成立之有限公司) 2024INTERIM REPORT中期報告 CONTENTS目錄 2Financial Highlights財務概要3Chairman’s Statement主席報告書7Management Discussion and Analysis管理層討論與分析22Report of Directors董事會報告書32Corporate Governance企業管治事宜35Consolidated Statement of Profit or Loss綜合損益表37Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收入表39Consolidated Statement of Financial Position綜合財務狀況表42Consolidated Statement of Changes in Equity綜合權益變動表45Condensed Consolidated Cash Flow Statement簡明綜合現金流量表47Notes to the Unaudited Interim Financial Report未經審核中期財務報告附註73Corporate Information公司資料 FINANCIAL H IGHLIGHTS財務概要 CHAIRMAN’S STATEMENT主席報告書 Dear Shareholders, Inthe first half of 2024,the global economywasstill confronted with multiple pressuressuchas geopolitical conflicts and inflationrisks.China’s economic growth slowed down,while overall operation remained stable and thetrend of stabilization continued. In the face of arelatively complex operating environment, undertheprinciple of“sound,steady and long-termoperations”, the Group adapted its business tothe market conditions and strived for the survivalandhealth of the enterprise to safeguard theinterests of its shareholders. 5 8 0 , 3 6 1 , 0 0 0675,621,0001 4 . 1 %352,339,0003 1 6 , 9 9 2 , 0 0 011.2%228,022,000358,629,00036.4%499,0008,799,0002,504,000 Forthe six months ended 30 June 2024(the“periodunder review”),the Group recordedrevenue of RMB580,361,000 (six months ended30June 2023:RMB675,621,000),representingayear-on-year decrease of 14.1%.High-endconsumingaccessories business recordedrevenue of RMB352,339,000 (six months ended30 June 2023: RMB316,992,000), representing ayear-on-year increase of 11.2%. The internationalcommoditytrading business recorded revenueofRMB228,022,000(six months ended 30June2023:RMB358,629,000),representing ayear-on-year decrease of 36.4%. In the first halfof the year, the Group recorded a net profit ofRMB499,000 (six months ended 30 June 2023:lossof RMB8,799,000),and recorded a loss 1,985,000 attributable to the shareholders of RMB2,504,000(sixmonths ended 30 June 2023:loss ofRMB1,985,000).The loss was mainly due toincreasein depreciation expense of property,plant and equipment and the foreign exchangeloss incurred to the operating units as a result ofexchange rate fluctuations. Duringthe period under review,in terms ofhigh-endconsuming accessories business,theGroupadopted various measures to addressthe complex business environment by focusingon the Company’s foundation and innovation fordevelopment, continuously broadening businessmodels,improving the level of technologicali n n o v a t i o n ,s t a n d a r d i z i n g a n d e n h a n c i n ginformatizationand automation management,resulting in impressive topline results. During theperiodunder review,the high-end consumingaccessoriesbusiness recorded impressiveincrease in revenue and profits. Duringthe period under review,due to thedecreasein the mineral sand prices and theweakercustomers purchase intention,thei n t e r n a t i o n a lc o m m o d i t y t r a d i n g b u s i n e s srecorded a year-on-year decrease in both salesand profits, but maintained a positive revenue.During the period under review, the global bulkshipping market delivered a strong performance.Riding on the rising market, the Group vigorouslye x p a n d e do p e r a t i o n s a n d s o u g h t t o s i g nlong-haul shipping contracts with customers. Inaddition to deepening its efforts in the traditionalshipping routes, the Group opened up a bauxiteshippingroute between Turkey and China forthe first time, which contributed to the Group’spositive returns. In the first half of the year, bothrevenueand profit from the Group’s shippingbusiness achieved impressive results. At present, political unrest continued to sweeptheglobe,bringing enhanced instability anduncertaintyto the economic environment.Chineseeconomy is showing a remarkablerecovery,but as the structural adjustmentcontinues to deepen, new challenges will arise.H o w e v e r ,C h i n e s e e c o n o m y i s e m b r a c i n gmore favorable but less unfavorable factors fordevelopment, and its good momentum of steadyandlong-term development has not changed.Asthe effects of the Chinese government’se c o n o m i cp o l i c i e s a n d m e a s u r e s f u r t h e remerge,we believe that the momentum ofChina’s economic development will continue tostrengthen. Inthe second half of the year,the Group willcontinueto adhere to the principle of“sound,steady,and long-term operations”,and willleveragethe stable business environment inMainlandChina that“pursues stability whileseekingprogress”to keep abreast of themarkettrend and further advance the processofinternational trade steadily.Additionally,theGroup will continuously expand and strengthentheinternational shipping business whichisclosely related to international trade,andstriveto become a stronger participant in theinternational shi