Government grants represent subsidies from relevant government authorities of approximately RMB3.6 million, RMB0.5 million, RMB0.2 million and RMB0.2 million during the Track Record Period in relation to, among others, agricultural development and supporting the listing of local enterprises provided by the Municipal Government of Laixi of RMB3.0 million in FY2020.
Financial Information · 第 321 页
Such decrease was primarily attributable to the decrease in government grants by approximately RMB3.1 million (or 85.0%), a majority of which was an one-off subsidy granted by the Municipal Government of Laixi for supporting the listing of local enterprises in FY2020.
The decrease was primarily due to the significant decrease in government grants to our subsidiaries, which was reduced by HK$40.0 million or 94.8% from HK$42.2 million for the year ended 31 March 2022 to HK$2.2 million for the year ended 31 March 2023, due to the ease of the severity of the COVID-19 pandemic and the gradual resumption to normal business operations for the year ended 31 March 2023.
Financial Information · 第 345 页
During the Track Record Period, our Group received government grants from the governments of the Czech Republic, Germany and Austria mainly to subsidise the business operations of our respective entities incorporated in these countries as a result of the COVID-19 impact.
Financial Information · 第 333 页
Our other income decreased by HK$34.2 million or 44.8% from HK$76.4 million for the year ended 31 March 2021 to HK$42.2 million for the year ended 31 March 2022.
The majority of our revenue is denominated in EUR while our costs are largely denominated in EUR and CZK.
Financial Information · 第 334 页
As at the Latest Practicable Date, we have not entered into any agreements to hedge our exchange rate exposure relating to any foreign currencies.
Financial Information · 第 334 页
The increase was primarily due to (i) the substantial increase in net foreign exchange loss by HK$4.6 million or 93.9% from HK$4.9 million for the year ended 31 March 2022 to HK$9.5 million for the year ended 31 March 2023 as a result of the depreciation of EUR against CZK; and (ii) the increase in the fair value of our investment administered by Singford by HK$1.6 million from HK$1.5 million for the year ended 31 March 2022 to HK$3.1 million for the year ended 31 March 2023, a fellow subsidiary of our Group.
Our other gains and losses decreased by RMB114.9 million, from a net gain of RMB127.0 million for FY2021 to a net gain of RMB12.1 million for FY2022, primarily due to the one-off gain on (i) disposal of plant and equipment of RMB30.3 million as a result of our disposal of buildings owned by Sichuan Migao; and (ii) disposal of right-of-use assets of RMB94.4 million recorded in FY2021 for the sum of RMB96.9 million received from the local PRC government for its resumption of our leasehold land held by Sichuan Migao, in FY2021.
Financial Information · 第 403 页
Our other gains and losses decreased by RMB29.0 million from a net gain of RMB12.1 million for FY2022 to a loss of RMB16.9 million for FY2023, primarily due to (i) the increase in net foreign exchange losses from net foreign exchange losses of RMB0.5 million for FY2022 to net foreign exchange losses of RMB16.4 million for FY2023 as a result of the foreign exchange losses derived from our settlements of monetary liabilities denominated in US dollar in FY2023, and (ii) the decrease in gain on deemed disposal of joint ventures from a gain of RMB13.0 million for FY2022 to nil for FY2023 as a result of the acquisition of subsidiaries of Anda Migao and Baoqing Migao in FY2022 which was one-off in nature.
We recorded an other net loss of RMB2.8 million in 2021 and an other net gain of RMB14.4 million in 2022, primarily attributable to foreign exchange loss/gain resulting from the depreciation and appreciation of U.S. dollars against the Renminbi in these years, respectively, in connection with our cash on hand denominated in U.S. dollars.
Financial Information · 第 484 页
Our net foreign exchange loss in 2021 and the nine months ended September 30, 2023 and net foreign exchange gain in 2022 and the nine months ended September 30, 2022 primarily resulted from the depreciation and appreciation of U.S. dollars against the Renminbi in these periods, respectively, in connection with our cash on hand denominated in U.S. dollars.
天津建设发展集团股份公司Tianjin Construction Development Group Co., Ltd.02515.HK
2021年出售拆除权录得一次性收益330万元
Subsequently, we decided not to proceed with the project and sold the demolition right by way of tender for better allocation of our resources in other projects after taking in account our capacity at the relevant material time.
Financial Information · 第 307 页
Our other net income increased by RMB3.5 million or 291.7% from RMB1.2 million for the year ended December 31, 2020 to RMB4.7 million for the year ended December 31, 2021 mainly attributable to the net gain on sales of demolition right of RMB3.3 million in 2021.
天津建设发展集团股份公司Tianjin Construction Development Group Co., Ltd.02515.HK
2023年上半年冲回减值亏损870万元
Our impairment losses on trade receivables, lease receivables and other receivables and contract assets decreased by RMB9.0 million from RMB0.3 million for the six months ended June 30, 2022 to the reversal of impairment losses of RMB8.7 million for the six months ended June 30, 2023, mainly due to the transfer of the Bishui Properties to our Company to satisfy debt payment pursuant to a court ruling dated September 29, 2018.
Financial Information · 第 320 页
For the six months ended June 30, 2023, we recorded a reversal of impairment losses on trade receivables, lease receivables and other receivables and contract assets of RMB8.7 million, mainly attributable to a reversal of impairment losses on trade receivables of RMB9.0 million due to the transfer of Bishui Properties to us in May 2023.
we recorded other income and other net gains of RMB85.4 million in 2022, compared to other income and other net losses of RMB7.8 million in 2021, primarily because we recorded (i) one-off compensation income of RMB50.0 million in 2022 as damages received for the proton equipment in relation to an arbitration proceeding of Beijing Century Friendship, and (ii) reversal of impairment loss on amount due from related parties of RMB42.6 million in 2022, as a result of the decreasing balance of amounts due from related parties, driven by our enhanced settlement efforts
Summary · 第 6 页
Compensation income represented the one-off damages received for the proton equipment in relation to an arbitration proceeding of Beijing Century Friendship.
We incurred net other losses of RMB44.1 million in 2022, as compared to net other gains of RMB0.6 million in 2021, which was mainly attributable to the foreign exchange losses we incurred in 2022 in relation to a RMB-denominated intragroup borrowing by RoboSense HK to Shenzhen Suteng.
Financial Information · 第 294 页
In 2020, 2021 and 2022 and the six months ended June 30, 2023, we had net foreign exchange losses of RMB0.3 million, RMB0.7 million, RMB45.1 million and RMB32.2 million, respectively.
As requested by relevant tax authorities stated in the notice, to apply for the refund of VAT credit, we had to return the VAT refunds of RMB24.2 million to relevant tax authorities during FY2022.
Financial Information · 第 471 页
Our net other income decreased from RMB76.0 million for FY2021 to RMB9.5 million for FY2022 which was mainly due to (i) decrease in government grants of RMB32.9 million primarily resulting from cancelation of a research and industrialization project in FY2022 due to the impact of COVID-19 and the change of market demands; and (ii) the return of VAT and other tax returns of RMB24.2 million which was non-recurring.
In view of the increasing gold spot price in the PRC in 2020, we entered into gold forward contracts with Shandong Humon and Shandong Guoda to capture investment opportunities during the year. We generated investment income amounted to approximately RMB2.7 million in FY2020 from such gold forward contracts.
Business · 第 218 页
We did not enter into such gold forward contracts in FY2021 and thereafter since our Directors did not intend to and will not engage in such investment activities but to focus on our principal mining business.
For example, we had negotiated and accepted an one-off sales return of our EV battery products of RMB157 million from an EV battery pack manufacturer in consideration of the long-term strategic cooperation with it and the relevant EV manufacturer, although there was no product defect.
Business · 第 282 页
We recorded gross losses of RMB32.1 million, with a negative gross profit margin of 2.6%, for our EV battery products in the six months ended June 30, 2023, partially because (i) the average selling price of our EV battery product decreased by 9.2% from RMB0.76 per Wh in the six months ended June 30, 2022 to RMB0.69 per Wh in the six months ended June 30, 2023, primarily due to the decrease in prices of raw materials, (ii) there was an increase in the unit manufacturing costs of our EV battery products by 50% from RMB0.06 per Wh in the six months ended June 30, 2022 to RMB0.09 per Wh, primarily due to the decrease in sales of our EV battery products in the six months ended June 30, 2023 which reduced the economies of scale of manufacturing our EV battery products as the fixed costs thereof did not decrease to the same extent, and (iii) we offered a one-off discount in the aggregate of approximately RMB28 million on the selling price of our EV battery products sold to one of our major OEM customers, in consideration of the temporary slowdown in the EV industry in China in early 2023 and the long-term strategic cooperation with the customer.
厦门燕之屋燕窝产业股份有限公司XIAMEN YAN PALACE BIRD’S NEST INDUSTRY CO., LTD.01497.HK
一次性政府补助致其他收入净额大幅波动
Our other net income increased by 57.8% from RMB20.7 million in 2020 to RMB32.7 million in 2021, primarily due to the increase in government grants recognizing our contribution towards the local economic development from RMB17.2 million in 2020 to RMB36.5 million in 2021.
Financial Information · 第 288 页
Our other net income decreased by 35.7% from RMB5.1 million in the five months ended May 31, 2022 to RMB3.3 million in the five months ended May 31, 2023, primarily due to a decrease in government grants as certain government grants in the five months ended May 31, 2022 were one-off in nature.
Financial Information · 第 283 页
During the Track Record Period, the amount of government grants experienced fluctuations, primarily because certain government grants were one-off in nature.
升辉清洁集团控股有限公司Shenghui Cleanness Group Holdings Limited02521.HK
道路工程辅助服务非经常性损益波动
Our other income decreased by approximately RMB2.1 million or 29.2% from approximately RMB7.2 million for the year ended 31 December 2021 to approximately RMB5.1 million for the year ended 31 December 2022.
Financial Information · 第 306 页
The decrease was mainly attributable to decrease in net non-recurring income from the provision of ancillary services for a road construction project of approximately RMB5.2 million due to the provision of ancillary services has been completed and the decrease in contract sum led to negative income derived by input method.
升辉清洁集团控股有限公司Shenghui Cleanness Group Holdings Limited02521.HK
豁免广州鹏盛租金罚息591.5万元
In January 2021, our Group reached a commercial settlement with Guangzhou Pengsheng to settle the total rental receivables at approximately RMB1.2 million and all remaining of rental receivables penalty on late payment of rental income previously charged, in total of RMB5,915,000 were waived and were written off as bad debts for the year ended 31 December 2021.
Financial Information · 第 291 页
Our Directors considered that there was no liquidity or operational negative impact for the late payment allowed to Guangzhou Pengsheng as it was controlled by Guangzhou Shenghui until October 2020.
Financial Information · 第 291 页
Our other income decreased by approximately RMB1.0 million or 12.2% from approximately RMB8.2 million for the year ended 31 December 2020 to approximately RMB7.2 million for the year ended 31 December 2021.
山西省安装集团股份有限公司Shanxi Installation Group Co., Ltd.02520.HK
2020年出售持作出售资产收益6,810万元
The reason for disposal of assets in 2020 was that Xishan Coal and Electricity (Group) Co., Ltd. (西山煤電(集團)有限責任公司) repurchased the assets held under two heat supply energy management projects awarded to us in 2015 and 2016 to abide with national policy.
Financial Information · 第 517 页
The decrease was mainly attributable to (i) the decrease in interest income by 38.1% from RMB39.0 million for the year ended December 31, 2020 to RMB24.1 million for the year ended December 31, 2021, which was mainly due to principal recovery of loans from our associates in 2021; and (ii) there was no disposal of assets of disposal group classified as held for sale in 2021, thus the gain on disposal of assets of disposal group classified as held for sale decreased by RMB68.1 million from 2020.
Our other income decreased by 78.4% from RMB41.4 million in 2020 to RMB9.0 million in 2021, primarily due to the decrease of RMB38.7 million in research and other grants related to income, as we received a one-off operating subsidy provided by local authorities of RMB39.6 million in 2020.
Financial Information · 第 329 页
Our net profit margin decreased from 27.3% in 2020 to 17.7% in 2021, primarily due to the decrease in research and other grants related to income awarded to us in 2021.
We recorded other gains of RMB46.7 million in 2022, as compared to other losses of RMB0.9 million in 2021, primarily due to our net foreign exchange gain of RMB46.3 million in 2022, as a result of the depreciation of the Renminbi against the U.S. dollar in 2022.
Financial Information · 第 327 页
Our other gains decreased by 82.6% from RMB25.7 million in the six months ended June 30, 2022 to RMB4.5 million in the six months ended June 30, 2023, primarily due to our net foreign exchange loss of RMB1.4 million in the six months ended June 30, 2023, as compared to our net foreign exchange gain of RMB25.5 million in the six months ended June 30, 2022, primarily due to fluctuations in the exchange rate between U.S. dollar and Renminbi in the six months ended June 30, 2023 as we settled with overseas customers in U.S. dollars, partially offset by an increase on the fair value gain on wealth management products of RMB5.5 million.
Our other income and gains were RMB2.0 million for the four months ended April 30, 2022 primarily due to gain on remeasurement of an associate to acquisition-date fair value.
Financial Information · 第 327 页
Our other income and gains/(expenses) decreased from RMB3.8 million in 2021 to RMB3.5 million in 2022, primarily due to a net foreign exchange loss resulting from fluctuations in exchange rates.
Financial Information · 第 330 页
(v) net foreign exchange differences; and (vi) listing expenses in relation to the Listing and the Global Offering.
We recorded net other gains of RMB11.3 million in 2019, as compared to net other losses of RMB19.8 million in 2020, primarily due to (i) the increase of RMB17.4 million in fair value loss on financial assets at fair value through profit or loss derived from the change of fair value of our investments in unlisted equity securities and wealth management products, (ii) we recorded RMB14.1 million of net gains on disposal of investments accounted for using equity method in 2019 as a result of our acquisition of additional equity interest in Shenzhen Youka, upon completion of which, Shenzhen Youka become a subsidiary of our Company, while we did not record any such gains in 2020, and (iii) the increase of RMB5.2 million of the net losses on disposal of property and equipment as a result of the negative impact of COVID-19, which was not prevailing in 2019.