濠暻科技二零二四年中期报告

(Incorporated in the Cayman Islands with limited liability)Stock code: 2440 2024 INTERIM REPORT CONTENTS 2CORPORATE INFORMATION5MANAGEMENT DISCUSSION AND ANALYSIS23CORPORATE GOVERNANCE AND OTHER INFORMATION33INTERIM CONDENSED CONSOLIDATED STATEMENT OFPROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME34INTERIM CONDENSED CONSOLIDATED STATEMENT OFFINANCIAL POSITION36INTERIM CONDENSED CONSOLIDATED STATEMENT OFCHANGES IN EQUITY38INTERIM CONDENSED CONSOLIDATED STATEMENT OFCASH FLOWS40NOTES TO THE INTERIM CONDENSED CONSOLIDATEDFINANCIAL STATEMENTS62DEFINITIONS Corporate Information BOARD OF DIRECTORS Executive Directors Dr. Chen Ping(Chairman)Ms. Wang ZheshiMr. Feng YijingMr. Wang Jun Independent Non-executive Directors Mr. Gu JiongMr. Fong Wo, FelixMr. Yang Hai AUDIT COMMITTEE Mr. Gu Jiong(Chairman)Mr. Fong Wo, FelixMr. Yang Hai REMUNERATION COMMITTEE Mr. Fong Wo, Felix(Chairman)Mr. Feng YijingMr. Yang Hai NOMINATION COMMITTEE Dr. Chen Ping(Chairman)Mr. Gu JiongMr. Fong Wo, Felix AUTHORIZED REPRESENTATIVES Dr. Chen PingMs. Pun Ka Ying COMPANY SECRETARY Ms. Pun Ka Ying ACG, HKACG ACG, HKACG Corporate Information REGISTERED OFFICE IN THE CAYMAN ISLANDS 89 Nexus WayCamana BayGrand Cayman KY1-9009Cayman Islands 89 Nexus WayCamana BayGrand Cayman KY1-9009Cayman Islands PRINCIPAL PLACE OF BUSINESS IN THE PRC 9B48 8/F, Building B49 Mozhoudong RoadJiangning Economic andTechnological Development ZoneNanjingJiangsu ProvincePRC PRINCIPAL PLACE OF BUSINESS INHONG KONG 3485 5/F, Manulife Place348 Kwun Tong RoadKowloonHong Kong CAYMAN ISLANDS PRINCIPAL SHAREREGISTRAR AND TRANSFER OFFICE Ogier Global (Cayman) Limited89 Nexus WayCamana BayGrand Cayman KY1-9009Cayman Islands Ogier Global (Cayman) Limited89 Nexus WayCamana BayGrand Cayman KY1-9009Cayman Islands HONG KONG SHARE REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong LEGAL ADVISOR As to Hong Kong law Jingtian & Gongcheng LLPSuites 3203–3207, 32/FEdinburgh TowerThe Landmark15 Queen’s Road CentralHong Kong 15323203 3207 Corporate Information AUDITOR 97927 Ernst & Young Certified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s RoadQuarry BayHong Kong PRINCIPAL BANKS 76 China Everbright Bank Nanjing Jiangning Branch 76 Shengli RoadMoling StreetJiangning DistrictNanjing CityJiangsu ProvincePRC 66 China Merchants Bank Jiangning Branch No. 66 Shengtai RoadJiangning DistrictNanjing CityJiangsu ProvincePRC STOCK CODE 2440 2440 COMPANY’S WEBSITE www.howkingtech.comwww.howkingtech.com Management Discussion and Analysis The Group is a PRC provider for (i) data transmission andprocessing services for IoT applications and (ii) telecommunicationequipment, serving a broad range of industrial customers. TheGroup has been operating in the rapidly growing IoT market in thePRC since 2012, and commenced the provision of data transmissionand processing services for IoT applications to customers in variousindustries in 2018. The Group set foot in the private 5G networkmarket in the PRC in 2020 through upgrading its data transmissionand processing services for IoT applications with the application of5G technologies, and has since become one of the namedproviders in the explosively growing private 5G network market inthe PRC. In 2022, the Company was successfully listed on the StockExchange and became one of the few IoT-focused listed companieson the Stock Exchange. (i)(ii)5G5G5G 176.782.4%31.1(i)(ii) Entering 2024, the global operating environment remaineduncertain. The Group’s revenue decreased by approximately 82.4%from approximately RMB176.7 million for the six months endedJune 30, 2023 to approximately RMB31.1 million for the sameperiod in 2024. Such decrease in revenue during the six monthsended June 30, 2024 was mainly attributable to: (i) a decrease inrevenue from data transmission and processing services becausethe Group’s clients in the IoT industry have delayed their projectstaking into consideration of their concerns in cash flows anduncertainty in macroeconomic condition; and (ii) a decrease inrevenue from sales of equipment due to the absence of sales oftelecommunication equipment during the Reporting Period Management Discussion and Analysis because of the lack of customer demand. While the results in thefirst half of 2024 may paint a challenging picture, it is essential tolook beyond the numbers and focus on the opportunities that lieahead. Despite the setbacks the Group has faced, we are confidentthat the Group is well-positioned to overcome these challengesand emerge stronger in the coming future. The Group continues to focus on the non-5G business and tap intothe more promising private 5G network market. Due to economicuncertainty, many of our clients preferred to build a non-5Gnetwork during the first stage to satisfy their needs and upgrade toa 5G network during the second phase. As a result, the Group’srevenue in the fir