金阳新能源二零二四年中期报告

Corporate Information BOARD OF DIRECTORS Executive Directors Mr. KANG Chuang (Chairman)(appointed on 14 June 2024)Mr. ZHENG JingdongMr. LEUNG Tsz Chung (resigned on 14 June 2024) Non-Executive DirectorMs. LIN Weihuan Independent Non-Executive Directors Dr. ZHANG Baoping (appointed on 7 June 2024)Mr. CHEN ShaohuaProfessor ZHAO JinbaoMs. AN Na (resigned on 7 June 2024) BOARD COMMITTEES Audit Committee Mr. CHEN Shaohua (Chairperson)Professor ZHAO JinbaoDr. ZHANG Baoping (appointed on 7 June 2024)Ms. AN Na (resigned on 7 June 2024) Remuneration Committee Dr. ZHANG Baoping (Chairperson)(appointed on 7 June 2024)Professor ZHAO JinbaoMr. CHEN ShaohuaMs. AN Na (resigned on 7 June 2024) Nomination Committee Professor ZHAO Jinbao (Chairperson)Mr. CHEN ShaohuaDr. ZHANG Baoping (appointed on 7 June 2024)Ms. AN Na (resigned on 7 June 2024) COMPANY SECRETARYMr. IP Pui Sum AUTHORISED REPRESENTATIVES Mr. KANG Chuang (appointed on 14 June 2024)Mr. ZHENG JingdongMr. LEUNG Tsz Chung (resigned on 14 June 2024) 01121 STOCK CODE01121 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 1617 HONG KONG SHARE REGISTRAR Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong AUDITORS Confucius International CPA LimitedCertified Public AccountantsRegistered Public Interest Entity Auditor PRINCIPAL BANKERS China Construction BankHSBCIndustrial Bank Golden SolarInterim Report 20242 Corporate Information1Financial Highlights4Management Discussion and Analysis5Other Information15Condensed Consolidated Statement of Profit or Loss andOther Comprehensive Income28Condensed Consolidated Statement of Financial Position29Condensed Consolidated Statement of Changes in Equity31Condensed Consolidated Statement of Cash Flows32Notes to the Condensed Consolidated Financial Statements33 Financial Highlights Revenue (Total)Revenue (Boree Products)Revenue (Graphene-based Products)Revenue (OEM Business)Revenue (Photovoltaic Products)Gross profitLoss for the periodShareholders' equity 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 2,80018.0%1.2751.555HJTHJTHBCHBC47.4%1,33016.2%10.4%OEM During the six months ended 30 June 2024 (the “Period”),the revenue of Golden Solar New Energy Technology HoldingsLimited(the“Company”)and its subsidiaries(collectivelyreferredto as the“Group”)decreased by approximatelyRMB28.0 million or approximately 18.0% to approximatelyRMB127.5million(2023:RMB155.5 million),which wasmainly attributable to the decrease in revenue of the businessof cast monocrystalline silicon (“Cast-mono”) wafers, Cast-mono heterojunction (“HJT”) solar cells and modules, HJTbackcontact(“HBC”)solar cells,HBC flexible modulesandbendable solar awnings(collectively as“PhotovoltaicProducts”). The gross profit of the Group during the Perioddecreased by approximately 47.4% to approximately RMB13.3million and the gross profit margin of the Group for thePeriod decreased to approximately 10.4% as compared toapproximately 16.2% for the corresponding period in 2023,which was mainly due to the decrease in gross profit marginfor the Original Equipment Manufacturer (“OEM”) business. OEM Regarding the OEM business, the Group still faced worseningmacroeconomic factors such as domestic inflation and sluggishconsumer demand in the United States of America (“US”)and the threat of fierce price reduction competition frommanufacturers in Southeast Asian countries, thus the grossprofit was negatively affected and this is the major reason forthe decrease in gross profit and gross profit margin for theGroup during the Period. Forthe Photovoltaic Products business,the decrease insales was mainly due to most solar companies engaged inprice competition to secure orders in the first half of 2024.Inorder to maintain the competitiveness of the Group’sproducts,the Group has been continuously developingadvanc