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a)0.5 (nd)12.9 ( )0.5 (dis)0.5 (cus)0.5 (se)0.5 (d)12.9 ( i)0.5 (nte)0.5 (rna)0.5 (l)32 ( )]TJ 0.025 Tc 0.061 Tw 0 -1.417 Td (controls and financial reporting matters including a review of the unaud\ited interim financial )Tj 0 Tw 0 -1.417 Td (statements accounts of the Company and the Group for the six months ende\d 30 June 2024.)Tj /T1_1 1 Tf 0 -2.833 Td (CORPORATE GOVERNANCE)Tj /T1_0 1 Tf 0.04 Tc 0.07 Tw 0 -2.833 Td [(The)12.9 ( Board)12.8 ( practices)12.9 ( and)12.9 ( procedures)12.9 ( had)12.8 ( set)12.8 ( out)12.9 ( the)12.9 ( Code)12.9 ( as)12.9 ( set)12.9 ( out)12.8 ( in)12.9 ( Appendix)12.9 ( 1)12.9 (4)12.8 ( to)12.9 ( the)15.1 ( )]TJ 0.025 Tc 0.037 Tw 0 -1.417 Td (Listing Rules since 1 January 2005. Appropriate actions have been taken \by the Company for )Tj 0.042 Tc 0.07 Tw 0 -1.417 Td [(complying)12.3 ( with)12.3 ( the)12.3 ( Code,)12.3 ( the)12.3 ( Group)12.3 ( has)12.3 ( complied)12.3 ( with)12.3 ( the)12.3 ( code)12.3 ( provisions)12.3 ( set)12.3 ( out)12.3 ( in)12.3 ( the)17 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.417 Td (Code.)Tj ET endstreamendobj55 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 31 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (\(B\))Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (INTERESTS OF THE SUBSTANTIAL SHAREHOLDERS IN THE COMPANY)Tj /T1_0 1 Tf 0.001 Tw 0 -2.833 Td (As at 30 June 2024, so far as is known to any Director or chief executiv\e of the Company, )Tj 0.051 Tc 0.07 Tw 0 -1.417 Td [(save)12.3 ( as)12.3 ( disclosed)12.3 ( above,)12.3 ( no)12.3 ( person)12.3 ( \(not)12.3 ( being)12.3 ( a)12.3 ( Director)12.3 ( or)12.3 ( a)12.3 ( chief)12.4 ( executive)12.3 ( of)12.3 ( the)26 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td [(Company\) who had an interes)0.5 (ts or )0.5 (short positions in)0.5 ( t)0.5 (he )0.5 (shares or underlying shares of the )]TJ 0.024 Tc 0 -1.417 Td [(Company which are required to be notified to the Company and the Stock E\xchange under)-0.9 ( )]TJ 0.025 Tc 0.046 Tw 0 -1.417 Td (Divisions 2 and 3 of Part XV of the SFO and recorded in the register req\uired to be kept )Tj 0.001 Tw 0 -1.417 Td (under section 336 of the SFO, and who were directly or indirectly deemed\ to be interested )Tj 0.052 Tw 0 -1.417 Td (in 10% or more of the nominal value of any class of share capital carryi\ng rights to vote )Tj 0 Tw 0 -1.417 Td (in all circumstances at general meetings of the Company.)Tj /T1_1 1 Tf -1.89 -2.833 Td (\(C\))Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (INTERESTS OF OTHER PERSONS IN THE COMPANY)Tj /T1_0 1 Tf 0.001 Tw 0 -2.833 Td (As at 30 June 2024, so far as is known to any Director or chief executiv\e of the Company, )Tj 0.051 Tc 0.07 Tw 0 -1.417 Td [(save)12.3 ( as)12.3 ( disclosed)12.3 ( above,)12.3 ( no)12.3 ( person)12.3 ( \(not)12.3 ( being)12.3 ( a)12.3 ( Director)12.3 ( or)12.3 ( a)12.3 ( chief)12.4 ( executive)12.3 ( of)12.3 ( the)26 ( )]TJ 0.025 Tc 0.025 Tw 0 -1.417 Td (Company\) who had an interest or short positions in the shares or underl\ying shares of the )Tj 0.024 Tc 0 Tw 0 -1.417 Td [(Company which are required to be notified to the Company and the Stock E\xchange under)-0.9 ( )]TJ 0.025 Tc 0.046 Tw 0 -1.417 Td (Divisions 2 and 3 of Part XV of the SFO and recorded in the register req\uired to be kept )Tj 0.001 Tw 0 -1.417 Td (under section 336 of the SFO, and who were directly or indirectly deemed\ to be interested )Tj 0.017 Tw 0 -1.417 Td (in 5% or more of the nominal value of any class of share capital carryin\g rights to vote in )Tj 0 Tw 0 -1.417 Td (all circumstances at general meetings of the Company.)Tj /T1_1 1 Tf -1.89 -2.833 Td (DIRECTORS\222 INTEREST IN COMPETING BUSINESS)Tj /T1_0 1 Tf 0.029 Tc 0.079 Tw 0 -2.833 Td [(None)4 ( )0.5 (of)4.1 ( )0.5 (the)4.1 ( Directors)4 ( )0.6 (or)4 ( )0.5 (the)4 ( )0.5 (management)4 ( )0.5 (shareholders)4 ( )0.5 (of)4 ( )0.5 (the)4 ( )0.5 (Company)4 ( )0.5 (and)4 ( )0.5 (their)4 ( )0.5 (respective)4.1 ( )]TJ 0.025 Tc 0.042 Tw 0 -1.417 Td (associates \(as defined under the Listing Rules\) had any interest in a \business which competes )Tj 0 Tw 0 -1.417 Td (or may compete with the business of the Company during the period under \review.)Tj /T1_1 1 Tf 0 -2.833 Td (GOING CONCERN AND MITIGATION MEASURES)Tj /T1_0 1 Tf 0.024 Tw 0 -2.833 Td [(The Group )0.5 (had certain litigations with banks )0.5 (and a number )0.5 (of measures have )0.5 (been undertaken )]TJ 0.063 Tw 0 -1.417 Td (to improve the Group\222s liquidity and financial position as in the Com\pany\222s annual report of )Tj 0.044 Tw 0 -1.417 Td [(year )0.5 (2023. )0.5 (The )0.5 (Group )0.5 (had )0.5 (been )0.6 (negotiating )0.5 (with )0.5 (banks )0.5 (in )0.5 (renewing )0.6 (or )0.5 (restructuring )0.6 (the )0.6 (loans )]TJ 0 Tw 0 -1.417 Td (and most of the bank loans had been restructured.)Tj ET endstreamendobj54 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 30 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (DISCLOSURE OF INTERESTS)Tj 0 -2.833 Td (\(A\))Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (INTERESTS OF THE DIRECTORS IN THE COMPANY)Tj /T1_0 1 Tf 0.02 Tw 0 -2.833 Td (As at 30 June 2024, the interests and short positions of the Directors a\nd chief executives )Tj 0.068 Tc 0.07 Tw 0 -1.417 Td [(in)12.2 ( the)12.3 ( shares,)12.3 ( underlying)12.2 ( shares)12.2 ( or)12.3 ( debentures)12.3 ( of)12.4 ( the)12.3 ( Company)12.3 ( and)12.3 ( its)12.3 ( associated)43 ( )]TJ 0.025 Tc 0.018 Tw 0 -1.417 Td (corporations \(within the meaning of Part XV of the Securities and Futur\es Ordinance \(the )Tj 0.028 Tc 0.08 Tw 0 -1.417 Td [(\223SFO\224\)\),)3 ( )0.5 (which)3 ( )0.5 (are)3 ( )0.5 (required)3 ( )0.5 (\(a\))3 ( )0.5 (to)3 ( )0.5 (be)3 ( )0.5 (notified)3 ( )0.5 (to)3 ( )0.5 (the)3.1 ( )0.5 (Company)3 ( )0.5 (and)3 ( )0.5 (the)3 ( )0.6 (Stock)3 ( )0.5 (Exchange)3 ( )]TJ 0.023 Tc 0 Tw 0 -1.417 Td [(pursuant to Divisions 7 and 8 of Part XV of the SFO \(including interest\s or short positions)-2 ( )]TJ 0.025 Tc 0.073 Tw 0 -1.417 Td [(which they are )0.5 (taken or )0.5 (deemed )0.5 (to have )0.5 (under such )0.5 (provisions )0.5 (of )0.5 (the )0.5 (SFO\); )0.5 (or \(b\) )0.5 (to be )]TJ 0.039 Tc 0.07 Tw 0 -1.417 Td [(recorded)12.6 ( in)12.5 ( the)12.6 ( register)12.5 ( required)12.6 ( to)12.5 ( be)12.5 ( kept)12.6 ( under)12.6 ( section)12.5 ( 3)12.5 (5)12.6 (2)12.5 ( of)12.5 ( the)12.5 ( SFO;)12.5 ( or)12.6 ( \(c\))12.5 ( to)12.5 ( be)14 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (notified to the Company and the Stock Exchange pursuant to the Model Cod\e \(the \223Model )Tj 0.041 Tc 0.07 Tw 0 -1.417 Td [(C)0.5 (od)0.5 (e\224)0.5 (\))13 ( f)0.5 (or)13 ( S)0.5 (e)0.5 (cu)0.5 (ri)0.5 (ti)0.5 (e)0.5 (s)12.9 ( )0.5 (Tr)0.5 (a)0.5 (ns)0.5 (ac)0.5 (t)0.5 (io)0.5 (ns)13 ( b)0.5 (y)12.9 ( )0.5 (D)0.5 (ir)0.5 (ec)0.5 (t)0.5 (or)0.5 (s)12.9 ( )0.5 (of)13 ( )0.5 (Li)0.5 (st)0.5 (e)0.5 (d)12.9 ( )0.5 (Is)0.5 (su)0.5 (e)0.5 (rs)13 ( c)0.5 (on)0.5 (t)0.5 (ai)0.5 (ne)0.5 (d)12.9 ( )0.5 (i)0.5 (n)12.9 ( )0.5 (Li)0.5 (st)0.5 (in)0.5 (g)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (Rules were as follows:)Tj /T1_1 1 Tf 0 -2.833 Td (\(i\))Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Long positions in the shares and the underlying shares of the Company)Tj -0.025 Tw 9.6 0 0 12 102.0472 370.0479 Tm (Directors)Tj 0 Tw 12.735 2.833 Td (Long position )Tj 2.157 -1.417 Td (in shares )Tj -4.112 -1.417 Td (\(beneficial owner\))Tj 10.813 5.667 Td (Long position )Tj 2.571 -1.417 Td (in share )Tj -1.632 -1.417 Td (options and )Tj -2.76 -1.417 Td (convertible bonds )Tj -0.134 -1.417 Td (\(beneficial owner\))Tj 10.18 4.25 Td (Aggregate long )Tj -1.075 -1.417 Td (position in shares )Tj 1.016 -1.417 Td (and underlying )Tj -0.025 Tw 4.008 -1.417 Td (shares)Tj 7.784 2.833 Td (Interests )Tj 0 Tw -1.658 -1.417 Td (in the issued )Tj -0.193 -1.417 Td (share capital)Tj /T1_0 1 Tf -39.701 -2.833 Td (Tang Guoqiang)Tj -0.025 Tw 13.648 0 Td (169,800,000)Tj 8.058 0 Td (7,700,000,000)Tj 8.858 0 Td (7,869,800,000)Tj 11.175 0 Td (130.55%)Tj 0 Tw -41.739 -1.417 Td (Shi Jianmin)Tj -0.025 Tw 14.173 0 Td (70,000,000)Tj 8.333 0 Td (300,000,000)Tj 8.858 0 Td (370,000,000)Tj 11.425 0 Td (6.14%)Tj 0 Tw -42.789 -1.417 Td (Zhang Weihua)Tj -0.025 Tw 13.648 0 Td (500,000,000)Tj 0 Tc 0 Tw 13.608 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.108 0 Td (500,000,000)Tj 11.425 0 Td (8.29%)Tj /T1_2 1 Tf 10 0 0 10 102.0472 273.0878 Tm (Note:)Tj /T1_0 1 Tf 0.026 Tc 0.083 Tw /Span<>> BDC ( )Tj EMC 2.835 0 Td [(A)-12.7 (s a)-12.7 (t 30 J)-12.7 (u)-12.8 (n)-12.7 (e 2024, a)-12.7 (m)-12.8 (o)-12.7 (n)-12.8 (g 69,800,000 o)-12.8 (u)-12.8 (t o)-12.8 (f t)-12.8 (h)-12.7 (e 169,800,000 l)-12.8 (o)-12.7 (n)-12.8 (g p)-12.8 (o)-12.8 (s)-12.7 (i)-12.8 (t)-12.7 (i)-12.8 (o)-12.8 (n i)-12.8 (n s)-12.8 (h)-12.7 (a)-12.8 (r)-12.7 (e)-12.8 (s i)-12.8 (n t)-12.8 (h)-12.7 (e)1 ( )]TJ 0.025 Tc 0.068 Tw 0 -1.4 Td [(interest of Mr. )0.5 (Tang Guoqiang was held by )0.5 (Coherent Gallery International Limited which )0.5 (was )]TJ 0.065 Tw 0 -1.4 Td (wholly owned by Mr. Tang Guoqiang. As at 30 June 2024, China Mass Enterp\rises Limited is )Tj 0.042 Tc 0.07 Tw 0 -1.4 Td [(indirectly)12.4 ( owned)12.4 ( by)12.4 ( Mr.)12.4 ( Zhang)12.4 ( Weihua)12.4 ( through)12.4 ( Jiangsu)12.4 ( Kang)12.4 ( Tai)12.4 ( Holdings)12.4 ( Group)12.4 ( Limited)17 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (which held a total amount of 500,000,000 shares of the Company.)Tj ET endstreamendobj53 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 29 \226)Tj 0.031 Tc 0.077 Tw -18.766 58.583 Td [(Assuming)6 ( )0.5 (all)6 ( )0.5 (outstanding)6 ( )0.5 (convertibles)6.1 ( securities)6 ( )0.6 (converted)6 ( )0.5 (into)6 ( )0.5 (shares)6 ( )0.6 (of)6 ( )0.5 (the)6 ( )0.5 (Company)6 ( )0.5 (\(the)6 ( )]TJ 0.025 Tc 0.006 Tw 0 -1.417 Td (\223Shares\224\) as at 30 June 2024, the shareholding structure of the C\ompany before and after such )Tj 0 Tw 0 -1.417 Td (conversion for all the outstanding convertible securities is as follow:)Tj /T1_1 1 Tf 9 0 0 12 56.6929 574.0479 Tm (As at 30/6/2024)Tj 16.053 7.083 Td (No. of Shares )Tj 1.465 -1.417 Td (before the )Tj -1.465 -1.417 Td (conversion of )Tj -0.025 Tw 0.687 -1.417 Td (outstanding )Tj 0.28 -1.417 Td (convertible )Tj 0.803 -1.417 Td (securities)Tj 0 Tw 9.94 2.833 Td (% of )Tj -0.025 Tw -1.63 -1.417 Td (holdings )Tj -0.109 -1.417 Td (\(approx\))Tj 0 Tw 9.091 7.083 Td (No. of )Tj -2.819 -1.417 Td (Shares from )Tj -0.495 -1.417 Td (conversion of )Tj -0.025 Tw 0.687 -1.417 Td (outstanding )Tj 0.28 -1.417 Td (convertible )Tj 0.803 -1.417 Td (securities)Tj 0 Tw 6.104 7.083 Td (No. of Shares )Tj 2.157 -1.417 Td (after the )Tj -2.157 -1.417 Td (conversion of )Tj -0.025 Tw 0.687 -1.417 Td (outstanding )Tj 0.28 -1.417 Td (convertible )Tj 0.803 -1.417 Td (securities)Tj 0 Tw 9.94 2.833 Td (% of )Tj -0.025 Tw -1.63 -1.417 Td (holdings )Tj -0.109 -1.417 Td (\(approx\))Tj -49.646 -2.833 Td (Directors)Tj /T1_0 1 Tf 0 Tw 0 -1.417 Td (Mr. Tang Guoqiang)Tj -0.025 Tw 16.797 0 Td (169,800,000)Tj 11.299 0 Td (2.82)Tj 3.649 0 Td (7,700,000,000)Tj 7.874 0 Td (7,869,800,000)Tj 11.574 0 Td (53.42)Tj 0 Tw -51.193 -1.417 Td (Mr. Shi Jianmin)Tj -0.025 Tw 17.322 0 Td (70,000,000)Tj 10.774 0 Td (1.16)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.649 0 Td (70,000,000)Tj 10.774 0 Td (0.48)Tj 0 Tw -51.718 -1.417 Td (Mr. Zhang Weihua)Tj -0.025 Tw 16.797 0 Td (500,000,000)Tj 11.299 0 Td (8.29)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.124 0 Td (500,000,000)Tj 11.299 0 Td (3.39)Tj /T1_1 1 Tf 0 Tw -51.718 -2.833 Td (Public Shareholders)Tj /T1_0 1 Tf -0.025 Tw 15.997 0 Td (5,288,242,599)Tj 11.574 0 Td (87.73)Tj 4.174 0 Td (1,002,675,000)Tj 7.874 0 Td (6,290,917,599)Tj 11.574 0 Td (42.71)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 195.5906 450.2488 cm 0 0 m 59.528 0 l S Q BT 0 Tc 0 Tw 0.075 0 0 0.1 189.9213 450.0158 Tm ( )Tj ET q 1 0 0 1 266.4568 450.2488 cm 0 0 m 59.528 0 l S Q BT 0.075 0 0 0.1 260.7875 450.0158 Tm ( )Tj ET q 1 0 0 1 337.3229 450.2488 cm 0 0 m 59.528 0 l S Q BT 0.075 0 0 0.1 331.6536 450.0158 Tm ( )Tj ET q 1 0 0 1 408.1891 450.2488 cm 0 0 m 59.528 0 l S Q BT 0.075 0 0 0.1 402.5198 450.0158 Tm ( )Tj ET q 1 0 0 1 479.0552 450.2488 cm 0 0 m 59.528 0 l S Q BT 0.075 0 0 0.1 473.3859 450.0158 Tm ( )Tj 0.025 Tc -0.025 Tw 9 0 0 12 56.693 418.0388 Tm (Total)Tj 15.997 0 Td (6,028,042,599)Tj 11.049 0 Td (100.00)Tj 4.699 0 Td (8,702,675,000)Tj 7.349 0 Td (14,730,717,599)Tj 11.574 0 Td (100.00)Tj ET 1.11 w q 1 0 0 1 195.5906 413.048 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 195.5906 410.948 cm 0 0 m 59.528 0 l S Q BT 0 Tc 0 Tw 0.075 0 0 0.1 189.9213 410.62 Tm ( )Tj ET 1.11 w q 1 0 0 1 266.4567 413.048 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 266.4567 410.948 cm 0 0 m 59.528 0 l S Q BT 0.075 0 0 0.1 260.7874 410.62 Tm ( )Tj ET 1.11 w q 1 0 0 1 337.3229 413.048 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 337.3229 410.948 cm 0 0 m 59.528 0 l S Q BT 0.075 0 0 0.1 331.6536 410.62 Tm ( )Tj ET 1.11 w q 1 0 0 1 408.189 413.048 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 408.189 410.948 cm 0 0 m 59.528 0 l S Q BT 0.075 0 0 0.1 402.5197 410.62 Tm ( )Tj ET 1.11 w q 1 0 0 1 479.0551 413.048 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 479.0551 410.948 cm 0 0 m 59.528 0 l S Q BT 0.075 0 0 0.1 473.3859 410.62 Tm ( )Tj /T1_2 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 56.693 383.683 Tm (Note:)Tj /T1_0 1 Tf 0.027 Tc 0.081 Tw /Span<>> BDC ( )Tj EMC 2.835 0 Td [(As)2 ( )0.5 (at)2 ( )0.5 (3)2 (0)2 ( )0.5 (June)2 ( )0.5 (2)2 (0)1.9 (2)2 (4)2 (,)2 ( )0.5 (China)2 ( )0.5 (Mass)2 ( )0.5 (Enterprises)2.1 ( Limited)2 ( )0.5 (is)2 ( )0.5 (indirectly)2 ( )0.5 (owned)2 ( )0.5 (by)2 ( )0.5 (Mr.)2 ( )0.5 (Zhang)2 ( )0.5 (Weihua)2 ( )0.5 (through)2 ( )]TJ 0.025 Tc 0.049 Tw 0 -1.4 Td (Jiangsu Kang Tai Holdings Group Limited which held 500,000,000 Shares, a\nd among 69,800,000 out of )Tj 0 Tw 0 -1.4 Td (169,800,000 shares held by Mr. Tang Guoqiang was held by Coherent Galler\y International Limited which )Tj 0 -1.4 Td (was wholly owned by Mr. Tang Guoqiang.)Tj 0.066 Tc 0.07 Tw 12 0 0 12 56.693 307.683 Tm [(The)12.7 ( diluted)12.7 ( loss)12.7 ( per)12.6 ( shares)12.6 ( for)12.7 ( the)12.7 ( year)12.6 ( ended)12.6 ( 3)12.7 (0)12.7 ( June)12.7 ( 2)12.7 (0)12.6 (2)12.7 (4)12.7 ( assuming)12.7 ( all)12.7 ( outstanding)41 ( )]TJ 0.025 Tc 0.012 Tw 0 -1.417 Td [(convertible )0.5 (securities )0.5 (being )0.5 (converted )0.5 (was )0.5 (RMB0.88 )0.5 (cents )0.5 (which )0.5 (is )0.6 (calculated )0.5 (by )0.5 (dividing )0.5 (the )]TJ 0.049 Tc 0.07 Tw 0 -1.417 Td [(l)0.5 (os)0.5 (s)12.9 ( )0.5 (at)0.5 (tr)0.5 (ib)0.5 (ute)13 ( )0.5 (to)13 ( t)0.5 (he)13 ( s)0.5 (ha)0.5 (re)0.5 (h)0.5 (ol)0.5 (der)0.5 (s)13 ( o)0.5 (f)12.9 ( )0.5 (th)0.5 (e)12.9 ( )0.5 (Co)0.5 (mp)0.5 (an)0.5 (y)12.9 ( )0.5 (by)13 ( t)0.5 (he)13 ( t)0.5 (ot)0.5 (a)0.5 (l)12.9 ( )0.5 (num)0.5 (be)0.5 (r)12.9 ( )0.5 (o)0.5 (f)12.9 ( )0.5 (Sh)0.5 (ar)0.5 (es)13 ( a)0.5 (f)0.5 (te)0.5 (r)12.9 ( )0.5 (al)0.5 (l)24 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (outstanding convertible securities being converted.)Tj ET endstreamendobj52 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 28 \226)Tj 0.062 Tw -18.766 58.583 Td (The share options scheme adopted on 18 September 2008 had been expired o\n 17 September )Tj 0.079 Tw 0 -1.417 Td (2018. As at 30 June 2024, the Company had 171,492,259 share options not \yet issued under )Tj 0.002 Tw 0 -1.417 Td (the share option scheme adopted on 23 October 2020, which represented ap\proximately 2.84% )Tj 0.028 Tc 0.08 Tw 0 -1.417 Td [(of)3 ( )0.5 (the)3 ( )0.5 (Company\222s)3 ( )0.5 (shares)3 ( )0.5 (as)3 ( )0.6 (at)3 ( )0.5 (3)3 (0)3 ( )0.5 (June)3 ( )0.5 (2)3 (0)3 (2)3 (4)3 (.)3 ( )0.5 (The)3 ( )0.5 (remaining)3 ( )0.5 (life)3 ( )0.5 (of)3 ( )0.5 (the)3 ( )0.5 (share)3 ( )0.5 (option)3 ( )0.5 (scheme)3 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (adopted on 23 October 2020 was about 6.3 years as at 30 June 2024.)Tj /T1_1 1 Tf 0 -2.833 Td (OUTSTANDING CONVERTIBLE SECURITIES)Tj /T1_0 1 Tf 0.035 Tc 0.073 Tw 0 -2.833 Td [(The)10 ( )0.5 (details)10 ( )0.5 (of)10 ( )0.5 (all)10 ( )0.5 (the)10 ( )0.5 (outstanding)10 ( )0.6 (convertibles)10 ( )0.5 (securities,)10 ( )0.5 (the)10 ( )0.5 (Company\222s)10 ( )0.5 (ability)10.1 ( to)10 ( )0.5 (meet)10 ( )0.5 (its)10 ( )]TJ 0.059 Tc 0.07 Tw 0 -1.417 Td [(redemption)12.3 ( obligations)12.3 ( of)12.4 ( the)12.3 ( outstanding)12.4 ( convertible)12.4 ( securities)12.4 ( based)12.4 ( on)12.4 ( the)12.4 ( financial)34 ( )]TJ 0.025 Tc 0.008 Tw 0 -1.417 Td (position as at 30 June 2024 and the Share prices \(the \223Indifference \Share Prices\224\) at the future )Tj 0.05 Tc 0.07 Tw 0 -1.417 Td [(dates)12.6 ( at)12.6 ( which)12.7 ( it)12.6 ( would)12.6 ( be)12.7 ( equally)12.7 ( financially)12.7 ( advantageous)12.6 ( for)12.7 ( the)12.6 ( securities)12.7 ( holders)12.6 ( to)25 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (convert or redeem were as follows:)Tj /T1_1 1 Tf -0.025 Tw 9 0 0 12 56.6929 489.0479 Tm (Outstanding )Tj 0 -1.417 Td (Convertible )Tj 0 -1.417 Td (Securities )Tj 0 Tw 0 -1.417 Td (Maturity Date)Tj -0.025 Tw 8.429 2.833 Td (Conversion )Tj 0 Tw 0.115 -1.417 Td (share price )Tj -0.025 Tw 2.177 -1.417 Td (\(HK$\))Tj 0 Tw 8.646 4.25 Td (No. of )Tj -3.342 -1.417 Td (shares can be )Tj -0.025 Tw 1.323 -1.417 Td (Converted)Tj 2.408 -1.417 Td (\(\222000\))Tj 0 Tw 5.3 4.25 Td (Indifference Share Price \(HK$\))Tj 0 Tc ( )Tj 0.025 Tc 6.033 -1.417 Td (as at)Tj 18.2 -1.417 Td (Ability to )Tj -0.025 Tw 0.963 -1.417 Td (redeem)Tj -26.688 0 Td (12/11/2024)Tj 6.299 0 Td (31/12/2024)Tj 6.299 0 Td (31/12/2025)Tj 6.299 0 Td (29/11/2026)Tj /T1_0 1 Tf 0 Tw -42.463 -2.833 Td (1. 12/11/2024)Tj -0.025 Tw 11.193 0 Td (0.320)Tj 6.654 0 Td (1,002,675)Tj 8.149 0 Td (0.305)Tj 0 Tc 0 Tw 8.149 0 Td (\226)Tj 6.299 0 Td (\226)Tj 6.299 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.552 0 Td (No)Tj 0 Tw -52.296 -1.417 Td (2. 29/11/2026)Tj -0.025 Tw 11.193 0 Td (0.108)Tj 6.654 0 Td (7,700,000)Tj 0 Tc 0 Tw 9.999 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.974 0 Td (0.09)Tj 5.774 0 Td (0.105)Tj 6.299 0 Td (0.113)Tj 7.402 0 Td (No)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 189.9212 382.2488 cm 0 0 m 65.197 0 l S Q BT 0 Tc 0 Tw 0.075 0 0 0.1 184.252 382.0158 Tm ( )Tj ET q 1 0 0 1 266.4567 382.2488 cm 0 0 m 45.354 0 l S Q BT 0.075 0 0 0.1 260.7874 382.0158 Tm ( )Tj ET q 1 0 0 1 323.1496 382.2488 cm 0 0 m 45.354 0 l S Q BT 0.075 0 0 0.1 317.4803 382.0158 Tm ( )Tj ET q 1 0 0 1 379.8425 382.2488 cm 0 0 m 45.354 0 l S Q BT 0.075 0 0 0.1 374.1732 382.0158 Tm ( )Tj ET q 1 0 0 1 436.5354 382.2488 cm 0 0 m 45.354 0 l S Q BT 0.075 0 0 0.1 430.8661 382.0158 Tm ( )Tj ET q 1 0 0 1 493.2283 382.2488 cm 0 0 m 45.354 0 l S Q BT 0.075 0 0 0.1 487.5591 382.0158 Tm ( )Tj 0.025 Tc -0.025 Tw 9 0 0 12 158.6839 350.0388 Tm (Total)Tj 6.515 0 Td (8,702,675)Tj ET 1.11 w q 1 0 0 1 189.9212 345.048 cm 0 0 m 65.197 0 l S Q 0.45 w q 1 0 0 1 189.9212 342.948 cm 0 0 m 65.197 0 l S Q BT 0 Tc 0 Tw 0.075 0 0 0.1 184.252 342.62 Tm ( )Tj ET endstreamendobj50 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 27 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (SHARE OPTION SCHEME)Tj /T1_0 1 Tf 0.007 Tw 0 -2.833 Td (The share option schemes \(the \223Share Option Schemes\224\) adopted on\ 18 September 2008 and 9 )Tj 0.036 Tc 0.072 Tw 0 -1.417 Td [(October)11 ( )0.5 (2)11 (0)11 (2)11 (0)11 (.)11 ( )0.5 (The)11 ( )0.5 (details)11 ( )0.6 (of)11 ( )0.5 (the)11 ( )0.5 (Share)11 ( )0.5 (Option)11 ( )0.5 (Schemes)11 ( )0.5 (can)11 ( )0.5 (be)11 ( )0.5 (found)11 ( )0.5 (in)11 ( )0.5 (the)11 ( )0.5 (circular)11 ( )0.5 (of)11 ( )0.5 (the)11 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (Company dated 29 August 2008 and 18 September 2020.)Tj 0.049 Tw 0 -2.833 Td (Details of options granted by the Company pursuant to the Share Option S\cheme and options )Tj 0 Tw 0 -1.417 Td (outstanding as at 30 June 2024 were disclosed in the following table:)Tj ET 0 0 0 1 K 0.5 w /GS1 gs q 1 0 0 1 351.2461 573.7579 cm 0 0 m 48.689 0 l S Q q 1 0 0 1 351.4961 513.7579 cm 0 0 m 0 59.75 l S Q q 1 0 0 1 399.685 513.7579 cm 0 0 m 0 59.75 l S Q q 1 0 0 1 351.4961 498.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 399.685 498.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 351.4961 483.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 399.685 483.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 351.4961 468.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 399.685 468.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 351.4961 453.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 399.685 453.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 351.4961 438.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 399.685 438.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 351.4961 423.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 399.685 423.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 351.4961 408.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 399.685 408.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 351.4961 393.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 399.685 393.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 351.4961 378.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 399.685 378.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 351.4961 363.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 399.685 363.7579 cm 0 0 m 0 15 l S Q q 1 0 0 1 351.4961 360.7489 cm 0 0 m 0 3.009 l S Q q 1 0 0 1 399.685 360.7489 cm 0 0 m 0 3.009 l S Q q 1 0 0 1 351.4961 345.7489 cm 0 0 m 0 15 l S Q q 1 0 0 1 399.685 345.7489 cm 0 0 m 0 15 l S Q q 1 0 0 1 351.4961 330.7489 cm 0 0 m 0 15 l S Q q 1 0 0 1 399.685 330.7489 cm 0 0 m 0 15 l S Q q 1 0 0 1 351.4961 325.3531 cm 0 0 m 0 5.396 l S Q q 1 0 0 1 399.685 325.3531 cm 0 0 m 0 5.396 l S Q q 1 0 0 1 351.4961 319.9572 cm 0 0 m 0 5.396 l S Q q 1 0 0 1 399.685 319.9572 cm 0 0 m 0 5.396 l S Q q 1 0 0 1 351.2461 319.7072 cm 0 0 m 48.689 0 l S Q BT /GS0 gs /T1_1 1 Tf 8.8 0 0 11 302.5114 575.8779 Tm (Number of share options)Tj -14.795 -2.75 Td (Held at )Tj 0.883 -1.364 Td (1 Jan )Tj -0.025 Tw 0.331 -1.364 Td (2024)Tj 4.84 2.727 Td (Grant )Tj -0.304 -1.364 Td (during )Tj 0.112 -1.364 Td (period)Tj 4.013 2.727 Td (Exercised )Tj 1.351 -1.364 Td (during )Tj 0.112 -1.364 Td (period)Tj 3.933 4.091 Td (Forfeited/)Tj 1.209 -1.364 Td (Lapsed )Tj 0.222 -1.364 Td (during )Tj 0.112 -1.364 Td (period)Tj 0 Tw 5.118 2.727 Td (Held at )Tj 0.302 -1.364 Td (30 Jun )Tj -0.025 Tw 0.912 -1.364 Td (2024)Tj 4.537 2.727 Td (Shares )Tj -0.526 -1.364 Td (Options )Tj 0 Tc 0 Tw 2.818 -1.364 Td (A)Tj 0.025 Tc -0.025 Tw 3.156 2.727 Td (Shares )Tj -0.526 -1.364 Td (Options )Tj 0 Tc 0 Tw 2.873 -1.364 Td (B)Tj 0.025 Tc -0.025 Tw 3.129 2.727 Td (Shares )Tj -0.526 -1.364 Td (Options )Tj 0 Tc 0 Tw 2.818 -1.364 Td (C)Tj /T1_2 1 Tf 0.025 Tc -0.025 Tw -40.234 -1.364 Td (\(\222000\))Tj 5.476 0 Td (\(\222000\))Tj 5.476 0 Td (\(\222000\))Tj 5.476 0 Td (\(\222000\))Tj 5.504 0 Td (\(\222000\))Tj 5.476 0 Td (\(\222000\))Tj 5.448 0 Td (\(\222000\))Tj 5.476 0 Td (\(\222000\))Tj /T1_1 1 Tf -52.136 -2.727 Td (Directors)Tj /T1_0 1 Tf 0 Tw 0.812 -1.364 Td (Tang Guoqiang)Tj 0 Tc 15.116 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.504 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.448 0 Td (\226)Tj 5.476 0 Td (\226)Tj 0.025 Tc -53.448 -1.364 Td (Shi Jianmin)Tj -0.025 Tw 12.216 0 Td (300,000)Tj 0 Tc 0 Tw 8.376 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.476 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.604 0 Td (300,000)Tj 0 Tc 0 Tw 8.376 0 Td (\226)Tj 0.025 Tc -0.025 Tw 2.548 0 Td (300,000)Tj 0 Tc 0 Tw 8.376 0 Td (\226)Tj 0.025 Tc -53.448 -1.364 Td (Zhang Weihua)Tj 0 Tc 15.116 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.504 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.448 0 Td (\226)Tj 5.476 0 Td (\226)Tj 0.025 Tc -53.448 -1.364 Td (Xu Congcai)Tj 0 Tc 15.116 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.504 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.448 0 Td (\226)Tj 5.476 0 Td (\226)Tj 0.025 Tc -53.448 -1.364 Td (Le Yiren)Tj 0 Tc 15.116 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.504 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.448 0 Td (\226)Tj 5.476 0 Td (\226)Tj 0.025 Tc -53.448 -1.364 Td (Lu Yi)Tj 0 Tc 15.116 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.504 0 Td (\226)Tj 5.476 0 Td (\226)Tj 5.448 0 Td (\226)Tj 5.476 0 Td (\226)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -54.26 -1.364 Td (Employees)Tj /T1_0 1 Tf 13.553 0 Td (82,612)Tj 0 Tc 0 Tw 7.851 0 Td (\226)Tj 5.476 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.243 0 Td (\(3,800\))Tj 5.362 0 Td (78,812)Tj 6.001 0 Td (1,500)Tj 0 Tc 0 Tw 7.298 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.101 0 Td (77,312)Tj ET q 1 0 0 1 164.4094 360.9989 cm 0 0 m 36.85 0 l S Q BT 0 Tc 0 Tw 0.08 0 0 0.1 201.2158 360.7659 Tm ( )Tj ET q 1 0 0 1 212.5984 360.9989 cm 0 0 m 36.85 0 l S Q BT 0.08 0 0 0.1 249.4048 360.7659 Tm ( )Tj ET q 1 0 0 1 260.7873 360.9989 cm 0 0 m 36.85 0 l S Q BT 0.08 0 0 0.1 297.5937 360.7659 Tm ( )Tj ET q 1 0 0 1 308.9763 360.9989 cm 0 0 m 36.6 0 l S Q BT 0.08 0 0 0.1 345.7827 360.7659 Tm ( )Tj ET q 1 0 0 1 357.4153 360.9989 cm 0 0 m 36.35 0 l S Q BT 0.08 0 0 0.1 394.2217 360.7659 Tm ( )Tj ET q 1 0 0 1 405.6042 360.9989 cm 0 0 m 36.6 0 l S Q BT 0.08 0 0 0.1 442.4107 360.7659 Tm ( )Tj ET q 1 0 0 1 453.5432 360.9989 cm 0 0 m 36.85 0 l S Q BT 0.08 0 0 0.1 490.3496 360.7659 Tm ( )Tj ET q 1 0 0 1 501.7322 360.9989 cm 0 0 m 36.85 0 l S Q BT 0.08 0 0 0.1 538.5386 360.7659 Tm ( )Tj 0.025 Tc -0.025 Tw 8.8 0 0 11 56.6928 332.6189 Tm (Total)Tj 13.028 0 Td (382,612)Tj 0 Tc 0 Tw 8.376 0 Td (\226)Tj 5.476 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.243 0 Td (\(3,800\))Tj 4.837 0 Td (378,812)Tj 6.526 0 Td (1,500)Tj 4.398 0 Td (300,000)Tj 6.001 0 Td (77,312)Tj ET 1.11 w q 1 0 0 1 164.4093 327.7981 cm 0 0 m 36.85 0 l S Q 0.45 w q 1 0 0 1 164.4093 325.6981 cm 0 0 m 36.85 0 l S Q BT 0 Tc 0 Tw 0.08 0 0 0.1 201.2157 325.3701 Tm ( )Tj ET 1.11 w q 1 0 0 1 212.5983 327.7981 cm 0 0 m 36.85 0 l S Q 0.45 w q 1 0 0 1 212.5983 325.6981 cm 0 0 m 36.85 0 l S Q BT 0.08 0 0 0.1 249.4047 325.3701 Tm ( )Tj ET 1.11 w q 1 0 0 1 260.7873 327.7981 cm 0 0 m 36.85 0 l S Q 0.45 w q 1 0 0 1 260.7873 325.6981 cm 0 0 m 36.85 0 l S Q BT 0.08 0 0 0.1 297.5937 325.3701 Tm ( )Tj ET 1.11 w q 1 0 0 1 308.9762 327.7981 cm 0 0 m 36.6 0 l S Q 0.45 w q 1 0 0 1 308.9762 325.6981 cm 0 0 m 36.6 0 l S Q BT 0.08 0 0 0.1 345.7827 325.3701 Tm ( )Tj ET 1.11 w q 1 0 0 1 357.4152 327.7981 cm 0 0 m 36.35 0 l S Q 0.45 w q 1 0 0 1 357.4152 325.6981 cm 0 0 m 36.35 0 l S Q BT 0.08 0 0 0.1 394.2216 325.3701 Tm ( )Tj ET 1.11 w q 1 0 0 1 405.6042 327.7981 cm 0 0 m 36.6 0 l S Q 0.45 w q 1 0 0 1 405.6042 325.6981 cm 0 0 m 36.6 0 l S Q BT 0.08 0 0 0.1 442.4106 325.3701 Tm ( )Tj ET 1.11 w q 1 0 0 1 453.5432 327.7981 cm 0 0 m 36.85 0 l S Q 0.45 w q 1 0 0 1 453.5432 325.6981 cm 0 0 m 36.85 0 l S Q BT 0.08 0 0 0.1 490.3496 325.3701 Tm ( )Tj ET 1.11 w q 1 0 0 1 501.7321 327.7981 cm 0 0 m 36.85 0 l S Q 0.45 w q 1 0 0 1 501.7321 325.6981 cm 0 0 m 36.85 0 l S Q BT 0.08 0 0 0.1 538.5386 325.3701 Tm ( )Tj 0.028 Tc 0.08 Tw 10 0 0 10 56.6928 292.5372 Tm [(S)3 (h)3 (a)3 (r)3 (e)3 ( )83 (O)3 (p)3 (t)3 (i)3 (o)3 (n)3 (s)3.1 ( )83 (A)3 (:)3 ( )]TJ /Span<>> BDC 7.619 0 Td ( )Tj EMC T* [(Granted)3 ( )0.5 (on)3 ( )0.5 (2)3 (2)3 ( )0.5 (June)3.1 ( )0.5 (2)3 (0)3 (1)3 (6)3 (,)3 ( )0.5 (exercisable)3 ( )0.5 (from)3 ( )0.5 (grant)3 ( )0.5 (date)3 ( )0.5 (until)2.9 ( )0.5 (2)3 (1)3.1 ( )0.5 (June)3 ( )0.5 (2)3 (0)3 (2)3 (6)3 ( )0.5 (with)3 ( )0.5 (exercise)3 ( )0.5 (price)3 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.4 Td (HK$0.151.)Tj 0.065 Tw -7.619 -2.8 Td [(Share )65 (Options )65 (B: )]TJ /Span<>> BDC 7.564 0 Td ( )Tj EMC T* 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The gearing ratios were calculated as net debt divided by \total capital.)Tj /T1_1 1 Tf 0 -2.833 Td (CONTINGENT LIABILITIES)Tj /T1_0 1 Tf 0 -2.833 Td (The Group had no significant contingent liabilities as at 30 June 2024.)Tj /T1_1 1 Tf 0 -2.833 Td (MATERIAL ACQUISITIONS/DISPOSALS)Tj /T1_0 1 Tf 0 -2.833 Td (The Group had no material acquisitions/disposals during the six months e\nded 30 June 2024.)Tj /T1_1 1 Tf 0 -2.833 Td (SEGMENTAL INFORMATION)Tj /T1_0 1 Tf 0.083 Tw 0 -2.833 Td [(The )0.5 (Group\222s )0.5 (activities )0.5 (are )0.5 (primarily conducted )0.5 (in )0.5 (the )0.5 (PRC )0.5 (and are )0.5 (within )0.5 (the )0.5 (same )0.5 (business )]TJ 0 Tw 0 -1.417 Td (segment. Therefore, no segmental information was presented for the six m\onths ended 30 June )Tj -0.025 Tw 0 -1.417 Td (2024.)Tj /T1_1 1 Tf 0.074 Tc 0.07 Tw 0 -2.833 Td [(DETAILS)12.9 ( OF)12.9 ( FUTURE)12.9 ( PLANS)12.9 ( FOR)12.9 ( MATERIAL)12.9 ( INV)0.5 (ESTMEN)0.5 (T)12.8 ( )0.5 (OR)12.9 ( C)0.5 (APITAL)49 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.417 Td (ASSETS)Tj /T1_0 1 Tf 0.022 Tw 0 -2.833 Td (Save as disclosed in the plans of the chairman statement in this interim\ results announcement, )Tj 0.033 Tc 0.075 Tw 0 -1.417 Td [(the)8 ( )0.5 (Company\222s)8.1 ( )0.5 (circular)8 ( )0.5 (dated)8 ( )0.5 (4)8 ( )0.5 (December)8 ( )0.5 (2)8 (0)8 (2)8 (0)8 ( )0.5 (\(the)8 ( )0.5 (establishment)8 ( )0.5 (of)8 ( )0.5 (three)8 ( )0.5 (new)8 ( )0.5 (production)8 ( )]TJ 0.045 Tc 0.07 Tw 0 -1.417 Td [(lines)12.9 ( in)12.9 ( our)12.8 ( Dazhou)12.8 ( Plant,)12.9 ( Guangan)12.9 ( Chemical)12.9 ( Plant)12.8 ( and)12.8 ( Guangan)12.9 ( Material)12.8 ( Plant\))12.9 ( and)12.9 ( the)20.1 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.417 Td [(Company\222s)7 ( )0.5 (circular)7 ( )0.6 (dated)7 ( )0.5 (1)7 (9)7 ( )0.5 (November)7 ( )0.5 (2)7 (0)7 (2)7 (1)7 ( )0.5 (\(the)7 ( )0.6 (Jiangsu)7 ( )0.5 (Plant\),)7 ( )0.5 (there)7 ( )0.5 (is)7 ( )0.5 (no)7 ( )0.5 (other)7 ( )0.5 (material)7 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (investment plans.)Tj /T1_1 1 Tf 0 -2.833 Td (EMPLOYEE INFORMATION)Tj /T1_0 1 Tf 0.022 Tw 0 -2.833 Td (As at 30 June 2024, the Group had a total workforce of 821 \(2023: 823\)\, of which 3 \(2023: 3\) )Tj 0.021 Tw 0 -1.417 Td (were responsible for management, 112 \(2023: 128\) for finance and admin\istration, 693 \(2023: )Tj 0.032 Tw 0 -1.417 Td (673\) for production and 13 \(2023: 19\) for sales and marketing and res\earch and development. )Tj 0.048 Tc 0.07 Tw 0 -1.417 Td [(Of)12.6 ( these)12.6 ( employees,)12.6 ( 8)12.6 (1)12.6 (9)12.6 ( \()12.6 (2)12.6 (0)12.6 (2)12.6 (3)12.6 (:)12.5 ( 8)12.5 (2)12.6 (1)12.6 (\))12.6 ( were)12.6 ( stationed)12.6 ( in)12.6 ( the)12.6 ( PRC)12.6 ( and)12.6 ( 2)12.6 ( \()12.6 (2)12.6 (0)12.6 (2)12.6 (3)12.5 (:)12.6 ( 2)12.6 (\))12.6 ( in)12.6 ( Hong)23 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.417 Td (Kong.)Tj ET endstreamendobj73 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 24 \226)Tj /T1_1 1 Tf -0.025 Tw -18.766 58.583 Td (ACKNOWLEDGEMENT)Tj /T1_0 1 Tf 0.053 Tw 0 -2.833 Td (Looking back over the past six months,we have observed certain fluctuati\ons in the chemical )Tj 0.005 Tw 0 -1.417 Td (fertilizer and chemical industries. Under the leadership of the Board an\d our management, and )Tj 0.07 Tw 0 -1.417 Td (with the dedication of our staff, we adhered to a market-oriented approa\ch in our production )Tj 0.064 Tc 0 -1.417 Td [(and)12.1 ( operation,)12.1 ( followed)12.1 ( up)12.1 ( market)12.1 ( trends)12.1 ( in)12.1 ( a)12.1 ( timely)12.1 ( manner)12.1 ( and)12.1 ( conducted)12.1 ( real-time)39 ( )]TJ 0.025 Tc 0.003 Tw 0 -1.417 Td (calculation, so as to ascertain the best operation benefits of our facil\ities. The stable long-term )Tj 0.076 Tw 0 -1.417 Td (operation of facilities was also achieved. For the second half of the ye\ar, with decisions and )Tj 0.028 Tw 0 -1.417 Td (strategies devised by the Board and under the leadership of the manageme\nt, we will stabilise )Tj 0 Tw 0 -1.417 Td (the basic chemical business, explore new projects and capitalise on mark\et opportunities.)Tj 0.057 Tw 0 -2.833 Td (On behalf of all my colleagues on the Board, I would like to take this o\pportunity to express )Tj 0.024 Tw 0 -1.417 Td (my sincere gratitude to all shareholders, customers, the management and \our staff! Thank you )Tj 0.021 Tw 0 -1.417 Td (for your hard work! We will continue working hard to create more returns\ to our shareholders )Tj 0 Tw 0 -1.417 Td (and the society.)Tj /T1_1 1 Tf 0 -2.833 Td (LIQUIDITY, FINANCIAL RESOURCES AND CAPITAL STRUCTURE)Tj /T1_0 1 Tf 0.024 Tc 0 -2.833 Td [(As at 30 June 2024, the Group had net current liabilities of approximate\ly RMB2,990,178,000.)-1 ( )]TJ 0.064 Tc 0.07 Tw 0 -1.417 Td [(Current)12.9 ( assets)12.9 ( as)12.9 ( at)12.9 ( 3)12.9 (0)12.9 ( June)12.9 ( 2)12.9 (0)12.9 (2)12.9 (4)12.9 ( comprised)12.9 ( cash)12.9 ( and)12.9 ( bank)12.9 ( deposits)12.9 ( of)13 ( approximate)0.5 (ly)39 ( )]TJ 0.041 Tc 0 -1.417 Td [(RMB)12.8 (5)12.8 (2)12.8 (,)12.9 (7)12.8 (5)12.8 (4)12.8 (,)12.9 (0)12.8 (0)12.8 (0)12.8 (,)12.9 ( restricted)12.9 ( and)12.8 ( pledged)12.8 ( bank)12.8 ( deposits)12.9 ( of)12.9 ( approximately)12.8 ( RMB)12.9 (5)12.8 (7)12.8 (6)12.8 (,)12.9 (6)12.8 (3)12.8 (1)12.8 (,)12.9 (0)12.8 (0)12.8 (0)12.8 (,)16 ( )]TJ 0.025 Tc 0.064 Tw 0 -1.417 Td (inventories of approximately RMB262,264,000, trade and other receivables\ of approximately )Tj 0.092 Tc 0.07 Tw 0 -1.417 Td [(RMB)12.4 (3)12.4 (3)12.4 (3)12.5 (,)12.4 (0)12.4 (8)12.4 (2)12.4 (,)12.4 (0)12.5 (0)12.4 (0)12.4 (.)12.4 ( Current)12.5 ( liabilities)12.5 ( as)12.4 ( at)12.4 ( 3)12.5 (0)12.4 ( June)12.4 ( 2)12.4 (0)12.4 (2)12.4 (4)12.4 ( comprised)12.4 ( borrowings)12.5 ( of)67 ( )]TJ 0.045 Tc 0 -1.417 Td [(approximately)12.2 ( RMB)12.2 (2)12.2 (,)12.3 (0)12.2 (9)12.2 (2)12.2 (,)12.3 (9)12.2 (5)12.2 (8)12.3 (,)12.2 (0)12.2 (0)12.3 (0)12.2 (,)12.2 ( convertible)12.2 ( bonds)12.2 ( of)12.2 ( approximately)12.2 ( RMB)12.3 (2)12.2 (5)12.2 (0)12.3 (,)12.2 (3)12.2 (9)12.3 (8)12.2 (,)12.2 (0)12.3 (0)12.2 (0)12.2 (,)20 ( )]TJ 0.023 Tc 0 Tw 0 -1.417 Td [(amount due to a related company of approximately RMB713,291,000, trade a\nd other payables)-2 ( )]TJ 0.025 Tc 0 -1.417 Td (and other current liabilities of approximately RMB1,158,262,000.)Tj /T1_1 1 Tf 0 -2.833 Td (CAPITAL COMMITMENTS)Tj /T1_0 1 Tf 0.062 Tc 0.07 Tw 0 -2.833 Td [(As)12.7 ( at)12.8 ( 3)12.7 (0)12.7 ( June)12.7 ( 2)12.7 (0)12.7 (2)12.7 (4)12.8 (,)12.6 ( the)12.7 ( Group)12.7 ( had)12.7 ( outstanding)12.7 ( capital)12.7 ( commitments)12.7 ( of)12.7 ( approximately)37 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.417 Td (RMB218,244,000.)Tj /T1_1 1 Tf 0 Tw 0 -2.833 Td (FINANCIAL RESOURCES)Tj /T1_0 1 Tf 0.031 Tw 0 -2.833 Td (As at 30 June 2024, the Group had cash and bank balances of approximatel\y RMB52,754,000 )Tj 0.037 Tc 0.071 Tw 0 -1.417 Td [(and)12 ( )0.5 (did)12 ( )0.5 (not)12 ( )0.5 (have)12.1 ( )0.5 (any)12 ( )0.5 (standby)12 ( )0.5 (bank)12 ( )0.5 (facilities.)12 ( )0.5 (The)12 ( )0.5 (Company)12 ( )0.5 (intends)12 ( )0.5 (to)12 ( )0.5 (finance)12 ( )0.5 (the)12 ( )0.5 (Group\222s)12 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.417 Td [(future)8 ( )0.5 (operations,)8 ( )0.5 (capital)8 ( )0.5 (expenditure)8 ( )0.5 (and)8 ( )0.5 (other)8 ( )0.5 (capital)8 ( )0.5 (requirements)8 ( )0.5 (with)8.1 ( )0.5 (the)8 ( )0.5 (existing)8 ( )0.5 (bank)8 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (balances and cash flow from operation.)Tj ET endstreamendobj72 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 23 \226)Tj 0.035 Tc 0.073 Tw -18.766 58.583 Td [(V)10 (.)]TJ /Span<>> BDC 1.022 0 Td ( )Tj EMC 0.868 0 Td [(The)10 ( )0.5 (Company)10 ( )0.5 (will)10.1 ( )0.5 (promote)10.1 ( )0.5 (sales)10 ( )0.5 (model)10 ( )0.5 (optimization,)10 ( )0.5 (increase)10 ( )0.5 (the)10 ( )0.5 (proportion)10 ( )0.5 (of)10 ( )0.5 (direct)10 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.417 Td [(sales)4 ( )0.5 (to)4 ( )0.5 (customers,)4 ( )0.5 (and)4 ( )0.5 (increase)4 ( )0.6 (the)4 ( )0.5 (size)4 ( )0.5 (of)4.1 ( )0.5 (sales)4 ( )0.5 (to)4 ( )0.5 (local)4 ( )0.5 (customers.)4 ( )0.5 (Meanwhile,)4 ( )0.5 (it)4 ( )0.5 (will)4 ( )]TJ 0.025 Tc 0.017 Tw 0 -1.417 Td (continue to improve our bidding model and increase the added value of ou\r products; The )Tj 0.059 Tc 0.07 Tw 0 -1.417 Td [(Company)12.2 ( will)12.2 ( optimise)12.2 ( the)12.2 ( rhythm)12.2 ( of)12.2 ( signing)12.2 ( contracts,)12.2 ( establish)12.2 ( an)12.2 ( internal)12.3 ( sales)34 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (competition mechanism, and maximize sales benefits;)Tj 0.048 Tc 0.07 Tw -1.89 -2.833 Td [(V)23 (I)23 (.)]TJ /Span<>> BDC 1.38 0 Td ( )Tj EMC 0.51 0 Td [(The)12.9 ( C)0.5 (ompany)12.9 ( wil)0.5 (l)12.9 ( do)12.9 ( a)12.9 ( good)12.9 ( )0.5 (job)12.9 ( in)12.9 ( pre)0.5 (paring)12.9 ( for)13 ( the)12.9 ( annua)0.5 (l)12.9 ( overha)0.5 (ul)13 ( of)12.9 ( the)12.9 ( )0.5 (device,)23 ( )]TJ 0.053 Tc 0 -1.417 Td [(reduce)12.3 ( the)12.3 ( number)12.3 ( of)12.4 ( unplanned)12.4 ( shutdown)12.3 ( during)12.4 ( the)12.4 ( year,)12.3 ( increase)12.4 ( production)12.3 ( and)28 ( )]TJ 0.025 Tc 0.063 Tw 0 -1.417 Td (reduce consumption; under the premise that the supply of natural gas is \gradually eased, )Tj 0.009 Tw 0 -1.417 Td (the Company will explore the feasibility of repairing the device from on\ce a year to every )Tj 0 Tw 0 -1.417 Td (two years;)Tj 0.045 Tc 0.07 Tw -1.89 -2.833 Td [(V)20 (I)20 (I)20 (.)]TJ /Span<>> BDC 1.738 0 Td ( )Tj EMC 0.152 0 Td [(The)12.3 ( Company)12.2 ( will)12.2 ( promote)12.2 ( the)12.2 ( reform)12.2 ( of)12.2 ( spare)12.2 ( parts)12.2 ( inventory,)12.2 ( gradually)12.2 ( reduce)12.3 ( the)20 ( )]TJ 0.025 Tc 0.057 Tw 0 -1.417 Td [(amount )0.5 (of )0.5 (inventory )0.5 (funds )0.6 (occupied, )0.5 (and )0.5 (at )0.6 (the )0.5 (same )0.5 (time )0.6 (establish )0.5 (safety )0.5 (inventory )0.5 (and )]TJ 0 Tw 0 -1.417 Td (inventory management methods to improve the safety factor and reduce cos\ts;)Tj -0.025 Tw 10.2 0 0 12 56.6929 455.0479 Tm (VIII.)Tj 0.062 Tc 0.07 Tw /Span<>> BDC 12 0 0 12 78.0717 455.0479 Tm ( )Tj EMC 0.108 0 Td [(The)12.6 ( Company)12.6 ( will)12.6 ( gradually)12.6 ( reduce)12.6 ( the)12.7 ( proportion)12.6 ( of)12.6 ( exclusive)12.6 ( suppliers)12.6 ( to)12.6 ( solve)37 ( )]TJ 0.084 Tc 0 -1.417 Td [(i)0.5 (n)0.6 (d)0.5 (u)0.6 (s)0.5 (t)0.6 (r)0.5 (y)0.5 (-)0.6 (s)0.5 (p)0.6 (e)0.5 (c)0.6 (i)0.5 (f)0.5 (i)0.6 (c)13 ( )0.6 (p)0.5 (r)0.6 (o)0.5 (b)0.6 (l)0.5 (e)0.6 (m)0.5 (s)0.6 (,)13 ( )0.5 (t)0.6 (h)0.5 (e)0.6 (r)0.5 (e)0.6 (b)0.5 (y)13 ( )0.6 (r)0.5 (e)0.6 (d)0.5 (u)0.6 (c)0.5 (i)0.6 (n)0.5 (g)13 ( )0.6 (p)0.5 (r)0.6 (o)0.5 (c)0.6 (u)0.5 (r)0.6 (e)0.5 (m)0.6 (e)0.5 (n)0.5 (t)13.1 ( )0.5 (c)0.6 (o)0.5 (s)0.6 (t)0.5 (s)13 ( )0.6 (a)0.6 (n)0.5 (d)13 ( )0.6 (i)0.5 (m)0.6 (p)0.5 (r)0.5 (o)0.6 (v)0.5 (i)0.6 (n)0.5 (g)59 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (procurement quality;)Tj 0.063 Tc 0.07 Tw -1.89 -2.833 Td [(I)38 (X)38 (.)]TJ /Span<>> BDC 1.38 0 Td ( )Tj EMC 0.51 0 Td [(The)12.4 ( Company)12.4 ( will)12.4 ( promote)12.4 ( the)12.4 ( reform)12.4 ( of)12.4 ( the)12.4 ( authorization)12.4 ( system)12.4 ( to)12.4 ( improve)12.4 ( the)38 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (decision-making efficiency of subsidiaries;)Tj 0.002 Tw -1.89 -2.833 Td (X.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td [(The )0.5 (Company will )0.5 (promote )0.5 (the )0.5 (approval, )0.5 (start )0.5 (and )0.5 (construction )0.5 (of )0.5 (new )0.5 (projects, )0.5 (revitalize )]TJ 0.038 Tc 0.07 Tw 0 -1.417 Td [(e)0.5 (x)0.5 (i)0.5 (s)0.5 (t)0.5 (in)0.5 (g)13 ( )0.5 (a)0.5 (s)0.5 (s)0.5 (e)0.5 (t)0.5 (s)0.5 (,)13 ( )0.5 (g)0.5 (r)0.5 (a)0.5 (du)0.5 (a)0.5 (l)0.5 (l)0.5 (y)13 ( )0.5 (r)0.5 (e)0.5 (a)0.5 (l)0.5 (i)0.5 (z)0.5 (e)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (up)0.5 (g)0.5 (r)0.5 (a)0.5 (d)0.5 (i)0.5 (n)0.5 (g)13 ( o)0.5 (f)13 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (d)0.5 (u)0.5 (c)0.5 (t)0.5 (s)0.5 (,)13 ( t)0.5 (r)0.5 (a)0.5 (n)0.5 (s)0.5 (f)0.5 (o)0.5 (r)0.5 (m)13 ( )0.5 (f)0.5 (r)0.5 (om)13 ( )0.5 (p)0.5 (u)0.5 (r)0.5 (e)13 ( )0.5 (b)0.5 (a)0.5 (s)0.5 (i)0.5 (c)13 ( )]TJ 0.061 Tc 0 -1.417 Td [(chemical)12.7 ( industry)12.8 ( to)12.8 ( fine)12.8 ( chemical)12.8 ( industry)12.7 ( based)12.7 ( on)12.7 ( basic)12.7 ( chemical)12.7 ( industry,)12.7 ( and)36 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (enhance the competitiveness of the Group;)Tj 0.008 Tw -1.89 -2.833 Td (XI.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (The Company will promote the upgrading and transformation of the DMF & N\MP project )Tj 0.075 Tw 0 -1.417 Td (and trial production of the PO project, as well as the establishment of \business teams in )Tj 0.03 Tw 0 -1.417 Td (the supply chain and sales, so as to form a new point of growth for the \Group in terms of )Tj 0 Tw 0 -1.417 Td (sales and profits;)Tj 0.088 Tc 0.07 Tw -1.89 -2.833 Td [(X)63 (I)63 (I)63 (.)]TJ /Span<>> BDC 1.738 0 Td ( )Tj EMC 0.152 0 Td [(The)12.6 ( Company)12.6 ( will)12.7 ( promote)12.7 ( standardisation,)12.7 ( such)12.6 ( as)12.7 ( technical)12.7 ( standardisation,)62.9 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.417 Td [(management)7 ( )0.5 (standardisation,)7 ( )0.5 (work)7 ( )0.5 (standardisation,)7 ( )0.5 (inspection)7 ( )0.6 (standardisation,)7 ( )0.5 (etc.,)7 ( )0.5 (and)7 ( )]TJ 0.025 Tc 0.037 Tw 0 -1.417 Td (continuously consolidating the management foundation in order to safegua\rd the Group\222s )Tj 0 Tw 0 -1.417 Td (stable operation.)Tj ET endstreamendobj71 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 22 \226)Tj /T1_1 1 Tf -0.025 Tw -18.766 58.583 Td (STRATEGIES)Tj /T1_0 1 Tf 0.035 Tw 0 -2.833 Td (In the first half of 2024, affected by the domestic and international en\vironment, the fertiliser )Tj 0.035 Tc 0.073 Tw 0 -1.417 Td [(and)10 ( )0.5 (chemical)10 ( )0.5 (industries)10 ( )0.5 (experienced)10 ( )0.5 (fluctuations,)10 ( )0.5 (showing)10 ( )0.5 (an)10 ( )0.5 (overall)10.1 ( )0.5 (oscillating)10 ( )0.5 (downward)10 ( )]TJ 0.053 Tc 0.07 Tw 0 -1.417 Td [(and)12.2 ( increasing)12.2 ( the)12.2 ( difficulties)12.2 ( in)12.1 ( product)12.2 ( shipments)12.2 ( and)12.2 ( operations.)12.1 ( In)12.2 ( the)12.1 ( face)12.2 ( of)12.2 ( these)28 ( )]TJ 0.025 Tc 0.06 Tw 0 -1.417 Td (difficulties, the Group mainly focused on internal reforms and innovatio\ns. On the one hand, )Tj 0.051 Tc 0.07 Tw 0 -1.417 Td [(it)12.1 ( reduced)12.1 ( production)12.1 ( and)12.1 ( operation)12.1 ( costs)12.1 ( through)12.1 ( technological)12.1 ( transformation)12.1 ( with)12.1 ( the)26.1 ( )]TJ 0.025 Tc 0 -1.417 Td (comprehensive consumption of companies in Guang\222an and Dazhou hitting\ a record low. On )Tj 0 Tw 0 -1.417 Td (the other hand, the Group kept adjusting the sales model and improved th\e bidding mechanism )Tj 0.067 Tw 0 -1.417 Td (to select high-quality customers; to control the sales plans, and seize \opportunities in market )Tj 0.041 Tc 0.07 Tw 0 -1.417 Td [(fluctuations,)12.6 ( thus)12.5 ( increasing)12.6 ( revenue)12.6 ( of)12.6 ( the)12.6 ( Company.)12.6 ( In)12.6 ( the)12.5 ( second)12.6 ( half)12.5 ( of)12.5 ( 2)12.5 (0)12.6 (2)12.6 (4)12.5 (,)12.6 ( we)12.6 ( will)16 ( )]TJ 0.025 Tc 0.027 Tw 0 -1.417 Td [(seize )0.5 (the )0.5 (real-time )0.5 (dynamics )0.5 (of )0.5 (changes )0.5 (in )0.6 (the )0.5 (fertiliser )0.5 (and )0.5 (chemical )0.5 (industries )0.5 (and )0.5 (adopt )0.5 (the )]TJ 0.042 Tc 0.07 Tw 0 -1.417 Td [(following)12.2 ( strategies)12.2 ( and)12.2 ( measures)12.2 ( to)12.2 ( help)12.3 ( the)12.2 ( Company)12.2 ( to)12.2 ( embark)12.2 ( on)12.2 ( the)12.3 ( track)12.2 ( of)12.2 ( healthy)17 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.417 Td (development.)Tj 0 Tw 0 -2.833 Td (I.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td [(T)0.5 (h)0.6 (e)0.5 ( )0.6 (C)0.5 (o)0.5 (m)0.6 (p)0.5 (a)0.6 (n)0.5 (y)0.5 ( )0.6 (w)0.5 (i)0.5 (l)0.6 (l)0.5 ( )0.6 (k)0.5 (e)0.5 (e)0.6 (p)0.5 ( )0.6 (o)0.5 (n)0.5 ( )0.6 (a)0.5 (r)0.5 (r)0.6 (a)0.5 (n)0.6 (g)0.5 (i)0.5 (n)0.6 (g)0.5 ( )0.6 (a)0.5 (n)0.5 (d)0.6 ( )0.5 (c)0.6 (o)0.5 (o)0.5 (r)0.6 (d)0.5 (i)0.5 (n)0.6 (a)0.5 (t)0.6 (i)0.5 (n)0.5 (g)0.6 ( )0.5 (t)0.5 (h)0.6 (e)0.5 ( )0.6 (w)0.5 (o)0.5 (r)0.6 (k)0.5 ( )0.5 (w)0.6 (i)0.5 (t)0.6 (h)0.5 ( )0.5 (r)0.6 (e)0.5 (g)0.6 (a)0.5 (r)0.6 (d)0.5 ( )0.5 (t)0.6 (o)0.5 ( )0.5 (p)0.6 (r)0.5 (o)0.5 (d)0.6 (u)0.5 (c)0.6 (t)0.5 (i)0.5 (o)0.6 (n )]TJ 0.065 Tw 0 -1.417 Td (materials, such as water, electricity and gas, in a bid to provide long-\term and high-load )Tj 0.02 Tw 0 -1.417 Td (operation protection for units of Dazhou Ko Yo Plant and Guang\222an Ko \Yo Plant; Taking )Tj 0.043 Tw 0 -1.417 Td (safety and environmental protection as the bottom line, while ensuring t\he long-term and )Tj 0.03 Tc 0.078 Tw 0 -1.417 Td [(safe)5 ( )0.5 (operation,)5 ( )0.5 (it)5 ( )0.5 (will)5 ( )0.5 (carry)5 ( )0.5 (out)4.9 ( )0.6 (daily)5 ( )0.5 (monitoring,)5 ( )0.5 (accounting,)5 ( )0.5 (issue)5.1 ( )0.5 (early)5 ( )0.5 (warnings,)5 ( )0.5 (and)5 ( )]TJ 0.025 Tc 0.029 Tw 0 -1.417 Td (timely adjust and optimise the production organisation and operational c\apacity to ensure )Tj 0 Tw 0 -1.417 Td (the best operation benefits;)Tj 0.028 Tc 0.08 Tw -1.89 -2.833 Td [(I)3 (I)3 (.)]TJ /Span<>> BDC 0.991 0 Td ( )Tj EMC 0.899 0 Td [(The)3 ( )0.5 (Company)3 ( )0.5 (will)3 ( )0.5 (continue)3 ( )0.5 (to)3 ( )0.5 (promote)3 ( )0.5 (special)3 ( )0.5 (improvement,)3 ( )0.5 (and)3 ( )0.5 (seek)3 ( )0.5 (for)3 ( )0.5 (and)3 ( )0.5 (promote)3 ( )]TJ 0.083 Tc 0.07 Tw 0 -1.417 Td [(the)12.4 ( implementation)12.4 ( of)12.4 ( various)12.4 ( measures)12.5 ( of)12.5 ( \223increasing)12.5 ( revenue)12.5 ( while)12.5 ( reducing)58 ( )]TJ 0.048 Tc 0 -1.417 Td [(expenditure,)12.8 ( cutting)12.8 ( costs)12.8 ( while)12.8 ( increasing)12.8 ( efficiency\224)12.8 ( to)12.8 ( reduce)12.9 ( operating)12.8 ( costs)12.8 ( and)23 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.417 Td (waste;)Tj 0.071 Tc 0.07 Tw -1.89 -2.833 Td [(I)46 (I)46 (I)46 (.)]TJ /Span<>> BDC 1.349 0 Td ( )Tj EMC 0.541 0 Td [(The)12.3 ( Company)12.3 ( will)12.4 ( continue)12.3 ( to)12.3 ( promote)12.3 ( measures)12.3 ( such)12.3 ( as)12.4 ( performance)12.4 ( appraisal,)46 ( )]TJ 0.025 Tc 0.011 Tw 0 -1.417 Td (compensation reform, special rewards and skill assessment, gather togeth\er all the staff in )Tj 0.028 Tc 0.08 Tw 0 -1.417 Td [(the)3 ( )0.5 (Group)3 ( )0.5 (to)3 ( )0.5 (exercise)3 ( )0.5 (unified)3 ( )0.5 (leadership,)3 ( )0.5 (and)3 ( )0.5 (inspire)3 ( )0.5 (the)3 ( )0.5 (creativity)3 ( )0.5 (and)3 ( )0.5 (execution)3 ( )0.5 (of)3.1 ( )0.5 (the)3 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (team, in a bid to achieve good operation results;)Tj 0.023 Tw -1.89 -2.833 Td (IV.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td [(The Company )0.5 (will strengthen the )0.5 (training )0.5 (of the )0.5 (workforce to )0.5 (improve )0.5 (the technical )0.5 (level )]TJ 0 Tw 0 -1.417 Td (and management capabilities of all staff;)Tj ET endstreamendobj70 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 21 \226)Tj 0.021 Tw -16.876 58.583 Td (pressure. Meanwhile, a slowdown was noticeable in the overall demand due\ to the loss of )Tj 0.043 Tc 0.07 Tw 0 -1.417 Td [(downstream)12.7 ( demand)12.7 ( for)12.7 ( industrial)12.7 ( compound)12.7 ( fertilisers)12.7 ( and)12.7 ( weather-related)12.7 ( delays)12.7 ( in)18 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.417 Td [(fertiliser)12 ( )0.5 (preparation)12 ( )0.5 (in)12 ( )0.5 (the)12 ( )0.5 (agriculture)12.1 ( )0.5 (industry.)12 ( )0.5 (This,)12 ( )0.5 (paired)12 ( )0.5 (with)12 ( )0.5 (stringent)12 ( )0.5 (export)11.9 ( )0.5 (and)12 ( )]TJ 0.025 Tc 0.007 Tw 0 -1.417 Td (legal inspection policies, prompted caution among traders, causing marke\t volatility and a )Tj 0 Tw 0 -1.417 Td (downward price trend.)Tj /T1_1 1 Tf -1.89 -2.833 Td (II.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Outlook for the second half of 2024)Tj /T1_0 1 Tf 0.057 Tc 0.07 Tw 0 -2.833 Td [(The)12.2 ( structure)12.2 ( of)12.2 ( supply)12.2 ( and)12.2 ( demand)12.2 ( appears)12.2 ( to)12.3 ( be)12.3 ( less)12.2 ( robust,)12.3 ( thereby)12.3 ( creating)12.3 ( the)32 ( )]TJ 0.039 Tc 0 -1.417 Td [(potential)12.6 ( for)12.7 ( the)12.7 ( focus)12.7 ( of)12.6 ( market)12.6 ( transactions)12.7 ( to)12.7 ( trend)12.7 ( downward)12.6 ( in)12.6 ( the)12.6 ( second)12.7 ( half)12.6 ( of)14 ( )]TJ 0.025 Tc 0.073 Tw 0 -1.417 Td (2024. Regarding the supply side, while summer heat may cause shutdowns o\f urea units )Tj 0.015 Tw 0 -1.417 Td (in some regions during the third quarter, an anticipated addition of abo\ut 4 million tonnes )Tj 0.071 Tw 0 -1.417 Td (of new production capacity in the second half of the year should keep th\e market amply )Tj 0.083 Tw 0 -1.417 Td [(supplied )0.5 (and )0.5 (maintain )0.5 (fluid )0.6 (circulation. )0.6 (In )0.5 (the )0.5 (fourth )0.5 (quarter, )0.6 (production )0.6 (limitations )0.6 (due )]TJ 0.042 Tc 0.07 Tw 0 -1.417 Td [(t)0.5 (o)13 ( )0.5 (e)0.5 (n)0.5 (v)0.5 (i)0.5 (r)0.5 (o)0.5 (n)0.5 (m)0.5 (e)0.5 (n)0.5 (t)0.5 (a)0.5 (l)13 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (t)0.5 (e)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (m)0.5 (e)0.5 (a)0.5 (s)0.5 (u)0.5 (r)0.5 (e)0.5 (s)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (w)0.5 (i)0.5 (n)0.5 (t)0.5 (e)0.5 (r)13 ( )0.5 (g)0.5 (a)0.5 (s)13 ( )0.5 (r)0.5 (e)0.5 (s)0.5 (t)0.5 (r)0.5 (i)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (s)13 ( )0.5 (i)0.5 (n)13 ( )0.5 (S)0.5 (h)0.5 (a)0.5 (n)0.5 (x)0.5 (i)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (N)0.5 (o)0.5 (r)0.5 (t)0.5 (h)17 ( )]TJ 0.054 Tc 0 -1.417 Td [(C)0.5 (h)0.5 (in)0.5 (a)13 ( )0.5 (c)0.5 (ou)0.5 (l)0.5 (d)13 ( d)0.5 (e)0.5 (c)0.5 (r)0.5 (e)0.5 (a)0.5 (se)13 ( )0.5 (s)0.5 (u)0.5 (p)0.5 (pl)0.5 (y)0.5 (.)13 ( T)0.5 (h)0.5 (u)0.5 (s)0.5 (,)12.9 ( )0.5 (t)0.5 (h)0.5 (e)13 ( m)0.5 (a)0.5 (r)0.5 (k)0.5 (e)0.5 (t)12.9 ( )0.5 (s)0.5 (u)0.5 (pp)0.5 (l)0.5 (y)13 ( )0.5 (ma)0.5 (y)13 ( )0.5 (i)0.5 (ni)0.5 (t)0.5 (i)0.5 (al)0.5 (l)0.5 (y)13 ( )0.5 (in)0.5 (c)0.5 (r)0.5 (e)0.5 (a)0.5 (se)13 ( )0.5 (b)0.5 (e)0.5 (f)0.5 (or)0.5 (e)29 ( )]TJ 0.025 Tc 0.056 Tw 0 -1.417 Td (reducing later. On the demand side, in the third quarter, the fertiliser\ application for rice )Tj 0.012 Tw 0 -1.417 Td (in the southern regions ends, and corn demand in the north weakens. Indu\strial compound )Tj 0.018 Tw 0 -1.417 Td (fertiliser production also decreases. However, in September, during the \high consumption )Tj 0.043 Tc 0.07 Tw 0 -1.417 Td [(period)12.4 ( known)12.5 ( as)12.4 ( the)12.5 ( \223Golden)12.4 ( September)12.4 ( and)12.4 ( Silver)12.5 ( October\224,)12.4 ( regions)12.4 ( like)12.4 ( Anhui)12.5 ( and)18 ( )]TJ 0.025 Tc 0.031 Tw 0 -1.417 Td (Henan prepare and apply fertilisers for wheat. However, the demand durin\g this period is )Tj 0.043 Tc 0.07 Tw 0 -1.417 Td [(significantly)12.1 ( lower)12.1 ( than)12.1 ( in)12.1 ( spring.)12.1 ( Winter)12.1 ( stockpiling)12.1 ( is)12.1 ( the)12.2 ( main)12 ( theme)12.1 ( of)12.1 ( the)12.1 ( fourth)18 ( )]TJ 0.025 Tc 0.004 Tw 0 -1.417 Td (quarter. 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)0.5 (pressure)4.1 ( )0.5 (on)3.9 ( )0.6 (supply.)4 ( )0.5 (On)4 ( )0.5 (the)4 ( )0.6 (demand)4 ( )0.6 (side,)4 ( )0.6 (agricultural)4 ( )0.5 (needs)4 ( )]TJ 0.042 Tc 0.07 Tw 0 -1.417 Td [(vary)12.3 ( seasonally.)12.3 ( July)12.3 ( and)12.3 ( August)12.3 ( mark)12.3 ( the)12.3 ( off-season)12.3 ( for)12.4 ( agriculture)12.4 ( nationwide.)12.3 ( The)17 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.417 Td [(demand)2 ( will)2 ( )0.5 (pick)2 ( up)2 ( )0.5 (from)2 ( )0.5 (September)2 ( )0.5 (to)2 ( )0.5 (October,)2 ( )0.5 (driven)2 ( by)2 ( )0.5 (plywood)2 ( )0.5 (manufacturers)2 ( and)2 ( )]TJ 0.046 Tc 0.07 Tw 0 -1.417 Td [(fertiliser)12.3 ( needs)12.3 ( in)12.2 ( autumn.)12.2 ( Further,)12.2 ( during)12.3 ( November)12.3 ( and)12.3 ( December,)12.3 ( demand)12.3 ( will)12.3 ( be)21 ( )]TJ 0.086 Tc 0 -1.417 Td [(primarily)12.3 ( for)12.3 ( winter)12.3 ( stocking.)12.3 ( However,)12.3 ( the)12.3 ( real)12.3 ( estate)12.4 ( sector)12.3 ( will)12.3 ( continue)12.3 ( to)60.9 ( )]TJ 0.024 Tc 0 Tw 0 -1.417 Td [(un)0.5 (der)0.5 (pe)0.5 (rfo)0.5 (rm,)0.5 ( re)0.5 (sul)0.5 (tin)0.5 (g i)0.5 (n a)0.5 ( we)0.5 (ak)0.5 ( de)0.5 (ma)0.5 (nd f)0.5 (or)0.5 ( pl)0.5 (ywo)0.5 (od )0.5 (man)0.5 (ufa)0.5 (ct)0.5 (ure)0.5 (rs.)0.5 ( Th)0.5 (e )0.5 (ove)0.5 (ral)0.5 (l p)0.5 (att)0.5 (er)0.5 (n)-1 ( )]TJ 0.051 Tc 0.07 Tw 0 -1.417 Td [(for)12.8 ( demand)12.8 ( will)12.8 ( remain)12.8 ( weak,)12.8 ( then)12.8 ( strong,)12.8 ( followed)12.7 ( by)12.8 ( another)12.8 ( weakening)12.8 ( trend.)12.8 ( In)25.9 ( )]TJ 0.025 Tc 0.029 Tw 0 -1.417 Td (respect of raw materials, factors like the summer production peak in the\ third quarter and )Tj 0.016 Tw 0 -1.417 Td (policies like winter heating and gas restrictions in the fourth quarter \might result in lesser )Tj 0 Tw 0 -1.417 Td (marginal support from the raw material side.)Tj 0.042 Tc 0.07 Tw -1.89 -2.833 Td [(To)12.8 ( summarise,)12.8 ( in)12.8 ( the)12.8 ( second)12.8 ( half)12.8 ( of)12.8 ( 2)12.8 (0)12.8 (2)12.8 (4)12.8 (,)12.8 ( the)12.8 ( ammonia)12.8 ( market)12.8 ( will)12.8 ( likely)12.8 ( see)12.9 ( fluctuating)17 ( )]TJ 0.041 Tc 0 -1.417 Td [(pr)0.5 (ice)0.5 (s)12.9 ( \227)13 ( ini)0.5 (tia)0.5 (lly)12.9 ( )0.5 (dro)0.5 (ppin)0.5 (g,)12.9 ( t)0.5 (hen)13 ( ri)0.5 (sing)0.5 (,)12.9 ( a)0.5 (nd)12.9 ( )0.5 (fina)0.5 (lly)13 ( dr)0.5 (oppin)0.5 (g)12.9 ( a)0.5 (ga)0.5 (in)12.9 ( d)0.5 (ue)12.9 ( )0.5 (to)12.9 ( )0.5 (seve)0.5 (ra)0.5 (l)12.9 ( f)0.5 (act)0.5 (ors)0.5 (.)16 ( )]TJ 0.04 Tc 0 -1.417 Td [(These)12.5 ( include)12.5 ( the)12.5 ( release)12.5 ( of)12.5 ( new)12.6 ( production)12.5 ( capacity,)12.5 ( anticipated)12.5 ( downstream)12.6 ( production,)15 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (environmental restrictions, and a rise in raw material costs.)Tj /T1_2 1 Tf -0.025 Tw 0 -2.833 Td (Urea)Tj /T1_1 1 Tf 0 Tw 0 -2.833 Td (I.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Industry overview for the first half of 2024)Tj /T1_0 1 Tf 0.015 Tw 0 -2.833 Td (According to statistics, from January to mid-June 2024, the average dail\y urea production )Tj 0.038 Tc 0.07 Tw 0 -1.417 Td [(rate)12.8 ( in)12.7 ( China)12.7 ( amounted)12.7 ( to)12.7 ( 1)12.7 (7)12.8 (6)12.7 (,)12.8 (9)12.7 (0)12.7 (0)12.8 ( tonnes,)12.7 ( an)12.8 ( increase)12.7 ( of)12.8 ( 1)12.8 (2)12.7 (,)12.8 (9)12.7 (6)12.7 (0)12.8 ( tonnes)12.8 ( over)12.7 ( the)12.7 ( same)13 ( )]TJ 0.091 Tc 0 -1.417 Td [(period)12.8 ( last)12.8 ( year.)12.8 ( The)12.8 ( average)12.8 ( operation)12.8 ( rate)12.9 ( of)12.8 ( the)12.8 ( Chinese)12.8 ( urea)12.9 ( industry)12.8 ( was)66 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (approximately 81.7%, representing an increase of 3.39% over the same per\iod last year.)Tj 0.082 Tw 0 -2.833 Td (In the first half of 2024, the overall urea market showed an upward and \then downward )Tj 0.037 Tc 0.071 Tw 0 -1.417 Td [(trend.)12 ( )0.5 (Leading)12 ( )0.5 (up)12 ( )0.5 (to)12 ( )0.5 (mid-March,)12 ( )0.5 (as)12 ( )0.5 (the)12.1 ( )0.5 (industrial)12 ( )0.5 (compound)12 ( )0.5 (fertiliser)12 ( )0.5 (plants)12 ( )0.5 (gradually)12 ( )]TJ 0.073 Tc 0.07 Tw 0 -1.417 Td [(resumed)12.5 ( production)12.4 ( and)12.5 ( agricultural)12.4 ( sales)12.4 ( commenced,)12.4 ( combined)12.4 ( with)12.5 ( low)12.5 ( plant)48 ( )]TJ 0.025 Tc 0.055 Tw 0 -1.417 Td (inventory and the increasing demand for agricultural fertiliser and manu\re preparation in )Tj 0.062 Tw 0 -1.417 Td (spring, there was an upward shift in the focus of market transactions. T\his led to a price )Tj 0.032 Tc 0.076 Tw 0 -1.417 Td [(surge,)7 ( )0.5 (reaching)7 ( )0.5 (a)7.1 ( )0.5 (semi-annual)6.9 ( )0.6 (high)7 ( )0.5 (of)6.9 ( )0.6 (nearly)7 ( )0.6 (RMB)7 (2)7 (,)7 (3)7 (8)7 (0)7 ( )0.5 (per)7 ( )0.5 (tonne.)7 ( )0.5 (From)7 ( )0.5 (late)7 ( )0.5 (March)7 ( )0.5 (to)7 ( )]TJ 0.024 Tc 0 Tw 0 -1.417 Td [(May, although the number of upstream manufacturers\222 maintenance devic\es increased, the)-0.9 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.417 Td [(demand)9 ( )0.5 (for)9 ( )0.5 (high)9 ( )0.5 (nitrogen)9 ( )0.6 (fertiliser)9 ( )0.5 (peaked)9 ( )0.5 (due)9 ( )0.5 (to)9 ( )0.6 (seasonal)9 ( )0.5 (reasons,)9 ( )0.5 (and)9 ( )0.5 (base)9 ( )0.5 (fertilisers)9 ( )]TJ 0.046 Tc 0.07 Tw 0 -1.417 Td [(were)12.5 ( prepared)12.4 ( for)12.5 ( agricultural)12.4 ( corn)12.4 ( and)12.4 ( rice)12.4 ( crops,)12.5 ( market)12.4 ( prices)12.5 ( remained)12.5 ( relatively)21 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.417 Td [(stable)8 ( )0.5 (without)8 ( )0.6 (surpassing)8 ( )0.5 (the)8 ( )0.5 (previous)8 ( )0.5 (high.)8 ( )0.5 (In)8 ( )0.5 (June,)8 ( )0.5 (as)8 ( )0.5 (the)8.1 ( )0.5 (units)8 ( )0.5 (previously)8 ( )0.5 (shut)8 ( )0.5 (down)7.9 ( )]TJ 0.025 Tc 0.067 Tw 0 -1.417 Td [(restarted, daily yield )0.5 (gradually reached approximately 180,000 tonnes, )0.5 (increasing supply )]TJ ET endstreamendobj78 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 19 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (II.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Outlook for the second half of 2024)Tj /T1_0 1 Tf 0.079 Tw 0 -2.667 Td (In the second half of 2024, methanol prices may show a trend of decline,\ followed by a )Tj 0.052 Tc 0.07 Tw 0 -1.333 Td [(surge,)12.7 ( and)12.6 ( culminating)12.6 ( in)12.6 ( another)12.7 ( decrease.)12.6 ( Specifically,)12.6 ( the)12.7 ( supply)12.6 ( could)12.6 ( display)12.6 ( a)27 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.333 Td [(general)7 ( )0.5 (pattern)7 ( )0.5 (of)7 ( )0.5 (an)7 ( )0.5 (initial)7 ( )0.5 (increase,)7 ( )0.5 (followed)7 ( )0.5 (by)7 ( )0.5 (a)7 ( )0.5 (decrease.)7 ( )0.5 (From)7.1 ( )0.5 (July)7 ( )0.5 (to)7 ( )0.5 (August,)7 ( )0.5 (the)7 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.333 Td [(t)0.5 (r)0.5 (a)0.5 (d)0.5 (it)0.5 (i)0.5 (o)0.5 (n)0.5 (a)0.5 (l)5 ( )0.5 (do)0.5 (w)0.5 (n)0.5 (s)0.5 (t)0.5 (r)0.5 (e)0.5 (a)0.5 (m)5 ( )0.5 (se)0.6 (ct)0.5 (o)0.5 (r)5 ( )0.5 (w)0.5 (i)0.5 (l)0.5 (l)5 ( )0.5 (e)0.5 (n)0.5 (te)0.5 (r)5 ( )0.5 (t)0.5 (h)0.5 (e)5 ( )0.5 (o)0.5 (f)0.5 (f)0.5 (-)0.5 (s)0.5 (e)0.5 (as)0.5 (o)0.5 (n)0.5 (,)5 ( )0.5 (w)0.5 (h)0.5 (i)0.5 (c)0.5 (h,)5 ( )0.6 (c)0.5 (om)0.5 (b)0.5 (i)0.5 (n)0.5 (e)0.5 (d)5 ( )0.5 (w)0.5 (it)0.5 (h)5 ( )0.5 (p)0.5 (o)0.5 (t)0.5 (e)0.5 (nt)0.5 (i)0.5 (a)0.5 (l)5 ( )]TJ 0.025 Tc 0.061 Tw 0 -1.333 Td (disruption due to typhoons in ports, could cause market fluctuations. Fr\om September to )Tj 0.051 Tc 0.07 Tw 0 -1.333 Td [(October,)12.6 ( the)12.5 ( market)12.6 ( may)12.5 ( rise)12.5 ( as)12.5 ( downstream)12.5 ( demand)12.5 ( gradually)12.5 ( recovers)12.5 ( and)12.5 ( buying)26 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.333 Td [(sentiment)4 ( )0.5 (is)4 ( )0.5 (fuelled)4 ( )0.5 (by)4 ( )0.5 (the)4 ( )0.5 (consumption)4 ( )0.5 (peak)4 ( )0.6 (during)4 ( )0.5 (the)4 ( )0.5 (\223Golden)4 ( )0.5 (September)4 ( )0.5 (and)4 ( )0.6 (Silver)4 ( )]TJ 0.048 Tc 0.07 Tw 0 -1.333 Td [(October\224)12.1 ( period.)12.1 ( In)12.1 ( November)12.1 ( and)12.1 ( December,)12.1 ( measures)12.1 ( such)12.1 ( as)12.1 ( shutdowns)12.1 ( and)12.1 ( load)23 ( )]TJ 0.025 Tc 0.043 Tw 0 -1.333 Td (reductions might be taken given MTO, CTO, and traditional downstream pro\fits possibly )Tj 0.083 Tw 0 -1.333 Td [(impacted by high )0.5 (methanol )0.5 (prices. )0.5 (As )0.5 (a )0.5 (result, )0.5 (the )0.5 (overall )0.5 (demand )0.5 (may )0.5 (show )0.5 (a )0.5 (trend )0.5 (of )]TJ 0 Tw 0 -1.333 Td (initially being weak, then strong, and again weak in the second half of \the year.)Tj 0.028 Tw -1.89 -2.667 Td (In summary, in the second half of 2024, the methanol market could experi\ence fluctuations in )Tj 0.046 Tw 0 -1.333 Td (the supply and demand structure, with an initial rise, followed by a red\uction, and then a rise )Tj 0.039 Tc 0.07 Tw 0 -1.333 Td [(again)12.9 ( in)12.8 ( manufacturers\222)12.8 ( inventory)12.8 ( levels.)12.8 ( However,)12.8 ( with)12.9 ( support)12.9 ( from)12.8 ( raw)12.9 ( materials)12.9 ( and)12.8 ( a)14 ( )]TJ 0.062 Tc 0 -1.333 Td [(favourable)12.1 ( macro-economic)12.2 ( backdrop,)12.1 ( methanol)12.1 ( prices)12.1 ( might)12.1 ( show)12.1 ( a)12.1 ( trend)12.1 ( of)12.1 ( initially)37 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (decreasing, then increasing, and finally decreasing again.)Tj /T1_2 1 Tf 0 -2.667 Td (Synthetic Ammonia)Tj /T1_1 1 Tf 0 -2.667 Td (I.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Industry overview for the first half of 2024)Tj /T1_0 1 Tf 0.026 Tc 0.082 Tw 0 -2.667 Td [(According)1 ( )0.5 (to)1 ( )0.5 (statistics,)1 ( )0.5 (the)1.1 ( )0.5 (synthetic)1 ( )0.5 (ammonia)1 ( )0.5 (production)1 ( )0.5 (volume)1 ( )0.5 (in)1 ( )0.5 (China)1 ( )0.5 (amounted)1 ( )0.5 (to)1 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.333 Td [(approximately)8 ( 3)8 (0)8.1 ( million)8 ( )0.5 (tonnes)8 ( )0.5 (in)8 ( )0.5 (the)8 ( )0.5 (first)8 ( )0.5 (half)8 ( )0.5 (of)8 ( )0.5 (2)8 (0)8 (2)8 (4)8 (,)8 ( )0.5 (an)8 ( )0.5 (increase)8.1 ( )0.5 (of)8 ( )0.5 (1)8 (3)8 (%)8 ( )0.6 (from)8.1 ( )0.5 (last)8 ( )]TJ 0.025 Tc 0.027 Tw 0 -1.333 Td (year. The average operation rate of the industry was 72.5%, an increase \of 7.5% from the )Tj 0 Tw 0 -1.333 Td (previous year.)Tj 0.011 Tw 0 -2.667 Td (In the first half of 2024, the overall synthetic ammonia market showed a\ downward trend. )Tj 0.047 Tc 0.07 Tw 0 -1.333 Td [(P)0.5 (r)0.6 (i)0.5 (o)0.6 (r)13 ( )0.5 (t)0.6 (o)13 ( )0.6 (t)0.5 (h)0.5 (e)13.1 ( )0.5 (C)0.6 (h)0.5 (i)0.6 (n)0.5 (e)0.5 (s)0.6 (e)13 ( )0.6 (N)0.5 (e)0.6 (w)13 ( )0.6 (Y)0.5 (e)0.6 (a)0.5 (r)0.6 (,)13 ( )0.6 (t)0.5 (h)0.6 (e)0.5 (r)0.5 (e)13.1 ( )0.5 (w)0.6 (a)0.6 (s)13 ( )0.5 (a)13.1 ( )0.5 (l)0.6 (o)0.5 (t)13 ( )0.6 (o)0.5 (f)13.1 ( )0.5 (s)0.6 (n)0.5 (o)0.5 (w)13.1 ( )0.5 (a)0.6 (n)0.5 (d)13.1 ( )0.5 (r)0.6 (a)0.5 (i)0.5 (n)0.6 (,)13 ( )0.6 (c)0.5 (a)0.6 (u)0.5 (s)0.6 (i)0.5 (n)0.5 (g)13.1 ( )0.5 (t)0.5 (r)0.6 (a)0.5 (f)0.6 (f)0.5 (i)0.6 (c)13 ( )0.6 (a)0.5 (n)0.6 (d)21.9 ( )]TJ 0.061 Tc 0 -1.333 Td [(t)0.5 (r)0.5 (a)0.5 (n)0.5 (sp)0.5 (o)0.5 (r)0.5 (t)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)12.9 ( )0.5 (b)0.5 (l)0.5 (o)0.5 (c)0.5 (k)0.5 (a)0.5 (g)0.5 (e)0.5 (s)0.5 (.)12.9 ( )0.5 (T)0.5 (h)0.5 (i)0.5 (s)13 ( )0.5 (l)0.5 (e)0.5 (d)13 ( a)0.6 (mm)0.5 (o)0.5 (n)0.5 (i)0.5 (a)13 ( )0.5 (c)0.5 (o)0.5 (mp)0.5 (a)0.5 (n)0.5 (i)0.5 (e)0.5 (s)13 ( )0.5 (t)0.5 (o)13 ( f)0.5 (o)0.5 (c)0.5 (u)0.5 (s)13 ( )0.5 (o)0.5 (n)13 ( )0.5 (a)0.5 (r)0.5 (ra)0.5 (n)0.5 (g)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (t)0.5 (he)0.5 (i)0.5 (r)36 ( )]TJ 0.025 Tc 0.075 Tw 0 -1.333 Td (inventory and selling goods. Concurrently, downstream companies had begu\n to prepare )Tj 0.074 Tc 0.07 Tw 0 -1.333 Td [(for)12.7 ( holidays,)12.6 ( which)12.7 ( resulted)12.6 ( in)12.7 ( a)12.6 ( decrease)12.6 ( in)12.7 ( prices.)12.6 ( During)12.6 ( traditional)12.6 ( fertiliser)49 ( )]TJ 0.025 Tc 0.011 Tw 0 -1.333 Td [(consumption peaks )0.5 (from )0.5 (the )0.5 (post-Spring )0.5 (Festival )0.5 (to )0.5 (mid-June, there )0.5 (was )0.5 (a certain balance )]TJ 0.045 Tc 0.07 Tw 0 -1.333 Td [(between)12.2 ( supply)12.2 ( and)12.2 ( demand)12.2 ( as)12.2 ( industrial)12.2 ( nitric)12.2 ( acid)12.2 ( and)12.2 ( caprolactam)12.2 ( production)12.2 ( was)20 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.333 Td [(resumed)9 ( )0.5 (and)9 ( )0.5 (expanded,)9 ( )0.5 (and)9 ( )0.5 (with)9 ( )0.5 (sequential)8.9 ( )0.6 (temporary)9 ( )0.6 (shutdowns)9 ( )0.5 (of)9 ( )0.5 (units)9 ( )0.5 (by)9 ( )0.5 (ammonia)9.1 ( )]TJ 0.025 Tc 0.046 Tw 0 -1.333 Td (companies. This caused a slight upward shift in the focus of market tran\sactions, leading )Tj 0.039 Tw 0 -1.333 Td (to relatively stable prices. By late June, there was a significant drop \in market prices due )Tj 0.076 Tw 0 -1.333 Td [(to )0.5 (reduced )0.6 (raw )0.5 (material )0.6 (cost )0.5 (support, )0.6 (along )0.5 (with )0.5 (declines )0.6 (in )0.6 (or )0.5 (suspension )0.5 (of )0.5 (compound )]TJ 0.035 Tc 0.073 Tw 0 -1.333 Td [(fertiliser)10 ( )0.5 (production)10 ( )0.6 (and)10 ( )0.6 (average)10 ( )0.5 (operation)10 ( )0.6 (rates)10 ( )0.5 (in)10 ( )0.5 (industrial)10 ( )0.5 (nitric)10 ( )0.5 (acid)10 ( )0.5 (production,)10 ( )0.5 (as)10 ( )]TJ 0.062 Tc 0.07 Tw 0 -1.333 Td [(well)13 ( as)12.9 ( fac)0.5 (tors)12.9 ( su)0.5 (ch)12.9 ( as)12.9 ( s)0.5 (urplus)12.9 ( mar)0.5 (ket)12.9 ( supp)0.5 (ly)12.9 ( and)12.9 ( inven)0.5 (tory)12.9 ( build)0.5 (-up)12.9 ( among)12.9 ( )0.5 (some)37 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (upstream manufacturers.)Tj ET endstreamendobj77 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 18 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (II.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Outlook for the second half of 2024)Tj /T1_0 1 Tf 0.027 Tc 0.081 Tw 0 -2.833 Td [(In)2 ( )0.5 (the)2 ( )0.5 (second)1.9 ( )0.5 (half)2 ( )0.5 (of)2 ( )0.5 (the)2 ( )0.5 (year,)2 ( )0.5 (market)1.9 ( )0.5 (prices)2 ( will)2 ( )0.5 (be)2 ( )0.5 (under)2 ( )0.5 (downward)1.9 ( )0.5 (pressure)2 ( )0.5 (and)2.1 ( may)2 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.417 Td [(fluctuate)9 ( )0.5 (at)9 ( )0.5 (a)9 ( )0.5 (low)9 ( )0.5 (level)9 ( )0.5 (as)9 ( )0.5 (new)9 ( )0.5 (capacity)9 ( )0.5 (is)9 ( )0.5 (expected)9 ( )0.5 (to)8.9 ( )0.6 (enter)9 ( )0.5 (the)9 ( )0.5 (market.)9 ( )0.5 (On)9 ( )0.5 (the)9 ( )0.5 (supply)9 ( )]TJ 0.025 Tc 0.035 Tw 0 -1.417 Td (side, new capacity is expected to be added for both synthetic and recycl\ing units, leading )Tj 0.027 Tc 0.081 Tw 0 -1.417 Td [(to)2 ( )0.5 (an)2 ( )0.5 (overall)2 ( )0.5 (continued)2 ( )0.5 (increase)2 ( )0.5 (in)2 ( )0.5 (supply.)2 ( )0.5 (However,)2 ( )0.5 (the)2 ( )0.5 (anticipated)2 ( )0.5 (growth)2 ( in)2 ( end-user)2 ( )]TJ 0.025 Tc 0.052 Tw 0 -1.417 Td [(demand is insufficient and )0.5 (there will be a lack of new )0.5 (orders and dealings in )0.5 (the )0.5 (market. )]TJ 0.049 Tw 0 -1.417 Td (Due to inflation and economic downturn, the overall scale of foreign tra\de is striving for )Tj 0.043 Tc 0.07 Tw 0 -1.417 Td [(progress)12.7 ( in)12.7 ( stability.)12.7 ( Imbalance)12.8 ( of)12.7 ( supply)12.7 ( and)12.7 ( demand)12.7 ( for)12.7 ( NMP)12.7 ( will)12.7 ( remain)12.7 ( the)12.7 ( main)18 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (contradiction in the short-term operation of the industry.)Tj 0.068 Tw -1.89 -2.833 Td (In summary, market prices will still fluctuate at a low level, with a we\ak performance in the )Tj 0 Tw 0 -1.417 Td (second half of 2024.)Tj /T1_2 1 Tf -0.025 Tw 0 -2.833 Td (Methanol)Tj /T1_1 1 Tf 0 Tw 0 -2.833 Td (I.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Industry overview for the first half of 2024)Tj /T1_0 1 Tf 0.051 Tc 0.07 Tw 0 -2.833 Td [(According)12.6 ( to)12.6 ( statistics,)12.6 ( the)12.7 ( production)12.6 ( volume)12.6 ( of)12.6 ( methanol)12.7 ( in)12.6 ( China)12.7 ( reached)12.7 ( 4)12.6 (1)12.7 (.)12.6 (3)12.7 (7)12.7 (9)25.9 ( )]TJ 0.025 Tc 0.014 Tw 0 -1.417 Td (million tonnes from January to mid-June this year, an increase of 11.26%\ when compared )Tj 0.027 Tc 0.081 Tw 0 -1.417 Td [(with)2 ( )0.5 (the)2.1 ( same)2 ( )0.5 (period)2 ( last)2 ( )0.5 (year.)2 ( The)2 ( )0.5 (average)2 ( )0.5 (operation)2 ( )0.5 (rate)2.1 ( for)2 ( methanol)2 ( )0.5 (production)1.9 ( )0.5 (was)2 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (82.31% in the first half of the year, up by 6.54% over the same period l\ast year.)Tj 0.004 Tw 0 -2.833 Td [(In )0.5 (the )0.5 (first )0.5 (half )0.6 (of )0.5 (2024, )0.5 (the )0.5 (methanol )0.5 (price )0.5 (was )0.6 (relatively )0.6 (firm )0.5 (but )0.5 (trending )0.5 (downward. )0.5 (In )]TJ 0.022 Tw 0 -1.417 Td [(the )0.5 (first )0.5 (quarter, the mainland )0.5 (market )0.5 (faced )0.5 (pressure )0.5 (due )0.5 (to )0.5 (the )0.5 (gradual )0.5 (resumption )0.5 (of )0.5 (gas )]TJ 0.08 Tw 0 -1.417 Td (production and weak demand for olefins, methanol, and acetic acid, resul\ting in a slight )Tj 0.038 Tc 0.07 Tw 0 -1.417 Td [(overall)12.2 ( decrease)12.2 ( in)12.2 ( prices.)12.2 ( In)12.2 ( the)12.3 ( second)12.2 ( quarter,)12.3 ( the)12.2 ( operation)12.3 ( rates)12.3 ( of)12.3 ( both)12.2 ( MTO)12.3 ( and)13 ( )]TJ 0.05 Tc 0 -1.417 Td [(CTO)12.8 ( gradually)12.8 ( recovered)12.8 ( to)12.8 ( stable)12.8 ( levels.)12.8 ( Traditional)12.8 ( downstream)12.8 ( demands,)12.8 ( such)12.8 ( as)25 ( )]TJ 0.063 Tc 0 -1.417 Td [(methanol)12.5 ( demand,)12.5 ( gradually)12.6 ( rebounded.)12.6 ( With)12.5 ( a)12.6 ( continued)12.6 ( increase)12.6 ( in)12.6 ( downstream)38 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.417 Td [(demand,)2 ( manufacturers)2 ( )0.5 (gradually)2 ( )0.5 (decreased)2 ( )0.5 (their)2 ( )0.5 (inventories.)2 ( )0.5 (Additionally,)2 ( )0.5 (port)2 ( )0.5 (arrivals)2 ( )]TJ 0.025 Tc 0.06 Tw 0 -1.417 Td (were less frequent than anticipated, influencing futures prices to fluct\uate upwards. As a )Tj 0.043 Tw 0 -1.417 Td (result, market prices continually climbed up. In June, the conclusion of\ spring inspection )Tj 0.012 Tw 0 -1.417 Td (heralded an increase in supply. High methanol prices squeezed downstream\ olefin profits, )Tj 0.036 Tw 0 -1.417 Td (triggering shutdowns and load reductions. Additionally, traditional down\stream methanol )Tj 0.017 Tw 0 -1.417 Td (profits began to contract. With raw material inventories consistently at\ mid-to-high levels )Tj 0.052 Tc 0.07 Tw 0 -1.417 Td [(an)0.5 (d)12.9 ( f)0.5 (irm)13 ( fr)0.5 (eigh)0.5 (t)12.9 ( r)0.5 (at)0.5 (es,)13 ( me)0.5 (tha)0.5 (nol)12.9 ( )0.5 (man)0.5 (ufa)0.5 (ctu)0.5 (rer)0.5 (s)12.9 ( )0.5 (cont)0.5 (inu)0.5 (all)0.5 (y)12.9 ( lo)0.5 (we)0.5 (red)13 ( pr)0.5 (ice)0.5 (s)12.9 ( t)0.5 (o)12.9 ( r)0.5 (edu)0.5 (ce)27 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (inventory, pushing the focus of transactions downward.)Tj ET endstreamendobj76 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 17 \226)Tj 0.024 Tw -16.876 58.583 Td (June, the market remained fluctuant at lower levels due to factors such \as ineffective cost )Tj 0.063 Tc 0.07 Tw 0 -1.417 Td [(con)0.5 (trol)12.9 ( )0.5 (and)12.9 ( )0.5 (gradu)0.5 (ally)13 ( wea)0.5 (ken)0.5 (ing)12.9 ( de)0.5 (mand)0.5 (.)12.9 ( Fro)0.5 (m)12.9 ( the)13 ( pe)0.5 (rspe)0.5 (ctive)13 ( of)12.9 ( )0.5 (suppl)0.5 (y-dem)0.5 (and)38 ( )]TJ 0.059 Tc 0 -1.417 Td [(structure,)12.1 ( a)12.1 ( clear)12.1 ( contradiction)12.1 ( between)12.1 ( supply)12.1 ( and)12.1 ( demand)12.1 ( arose)12.1 ( due)12.1 ( to)12.1 ( shrinking)34 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.417 Td [(downstream)3 ( )0.5 (demand.)3 ( )0.5 (This)3 ( )0.5 (caused)3 ( )0.5 (a)3 ( )0.5 (downward)3 ( )0.5 (shift)3 ( )0.5 (in)3 ( )0.5 (the)3 ( )0.5 (focus)3 ( )0.5 (of)3 ( )0.5 (market)3 ( )0.5 (tra)0.5 (nsac)0.5 (tions.)3 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.417 Td [(D)0.6 (o)0.5 (w)0.6 (n)0.5 (s)0.6 (t)0.5 (r)0.5 (e)0.6 (a)0.5 (m)0.6 (,)10 ( )0.5 (e)0.6 (n)0.5 (d)0.5 (-)0.6 (u)0.5 (s)0.6 (e)0.5 (r)10 ( )0.6 (c)0.5 (o)0.6 (m)0.5 (p)0.5 (a)0.6 (n)0.5 (i)0.6 (e)0.5 (s)10 ( )0.6 (k)0.5 (e)0.5 (p)0.6 (t)10 ( )0.5 (p)0.5 (u)0.6 (s)0.5 (h)0.6 (i)0.5 (n)0.6 (g)10 ( )0.5 (f)0.5 (o)0.5 (r)10.1 ( )0.5 (l)0.5 (o)0.5 (w)0.6 (e)0.6 (r)10 ( )0.5 (p)0.5 (r)0.6 (i)0.5 (c)0.6 (e)0.5 (s)0.6 (,)10 ( )0.5 (r)0.5 (e)0.6 (s)0.5 (u)0.6 (l)0.5 (t)0.6 (i)0.5 (n)0.5 (g)10 ( )0.6 (i)0.5 (n)10 ( )0.5 (c)0.6 (o)0.5 (n)0.5 (t)0.6 (i)0.5 (n)0.6 (u)0.5 (e)0.6 (d)10 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (low-level operation of spot prices.)Tj /T1_1 1 Tf -1.89 -2.833 Td (II.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Outlook for the second half of 2024)Tj /T1_0 1 Tf 0.043 Tc 0.07 Tw 0 -2.833 Td [(In)12.4 ( the)12.3 ( third)12.4 ( quarter,)12.4 ( new)12.3 ( capacity)12.3 ( development)12.3 ( will)12.3 ( continue)12.4 ( to)12.4 ( trend)12.3 ( upward)12.3 ( and)12.3 ( the)18 ( )]TJ 0.025 Tc 0.024 Tw 0 -1.417 Td (pressure on the supply side will continue to increase. Regarding demand,\ the downstream )Tj 0.043 Tc 0.07 Tw 0 -1.417 Td [(DMF)12.5 ( market)12.5 ( will)12.5 ( enter)12.4 ( its)12.5 ( traditional)12.5 ( off-peak)12.5 ( season)12.5 ( from)12.5 ( July)12.5 ( to)12.5 ( August.)12.5 ( However,)18 ( )]TJ 0.038 Tc 0 -1.417 Td [(given)12.5 ( that)12.6 ( market)12.6 ( prices)12.6 ( have)12.5 ( consistently)12.5 ( been)12.5 ( at)12.5 ( a)12.5 ( low)12.5 ( level,)12.5 ( there)12.5 ( may)12.5 ( not)12.5 ( be)12.5 ( much)13 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.417 Td [(potential)3 ( )0.5 (for)3 ( )0.5 (a)3 ( )0.5 (further)3 ( )0.5 (decline)3 ( )0.6 (in)3 ( )0.5 (prices.)3 ( )0.5 (From)2.9 ( )0.6 (September)3 ( )0.5 (to)3 ( )0.5 (December,)3 ( )0.5 (sentiment)3 ( )0.5 (in)3 ( )0.5 (the)3 ( )]TJ 0.025 Tc 0.01 Tw 0 -1.417 Td [(downstream )0.5 (demand )0.5 (tends to )0.5 (gradually )0.5 (improve, )0.5 (driven )0.5 (by )0.5 (a )0.5 (consumption )0.5 (peak )0.5 (in )0.5 (Golden )]TJ 0.036 Tc 0.072 Tw 0 -1.417 Td [(September)11 ( )0.5 (and)11 ( )0.5 (Silver)11 ( )0.5 (October.)11 ( )0.5 (There)11 ( )0.5 (might)11 ( )0.5 (be)11 ( )0.5 (a)11 ( )0.5 (trend)11 ( )0.5 (of)11 ( )0.5 (initial)11 ( )0.5 (weakness)11 ( )0.5 (followed)11 ( )0.5 (by)11 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (strength in the demand for DMF in the second half of the year.)Tj 0.053 Tw -1.89 -2.833 Td (In summary, for the second half of 2024, even as the supply and demand o\f the DMF market )Tj 0.041 Tc 0.07 Tw 0 -1.417 Td [(continue)12.9 ( to)12.9 ( grow)12.8 ( concurrently,)12.8 ( the)12.9 ( price)12.9 ( of)12.9 ( DMF)12.9 ( might)12.9 ( persist)12.9 ( at)12.9 ( a)12.8 ( low)12.9 ( level)12.9 ( with)12.8 ( limited)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (potential for an increase amidst escalating tensions between the supply \and demand.)Tj /T1_2 1 Tf 0 -2.833 Td (N-methylpyrrolidone \(NMP\))Tj /T1_1 1 Tf 0 -2.833 Td (I.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Industry overview for the first half of 2024)Tj /T1_0 1 Tf 0.049 Tw 0 -2.833 Td (According to statistics, the national NMP production capacity is approxi\mately 1 million )Tj 0.019 Tw 0 -1.417 Td [(tonnes in 2024, an approximate )0.5 (increase of 11% )0.5 (compared )0.5 (to 2023. In the first )0.5 (half )0.5 (of the )]TJ 0.009 Tw 0 -1.417 Td (year, prices in the NMP market fluctuated at a low level, with an overal\l downward trend. )Tj 0.036 Tc 0.072 Tw 0 -1.417 Td [(Mainstream)11 ( )0.5 (upstream)11 ( )0.5 (manufacturers)11 ( )0.5 (maintained)11 ( )0.5 (operations)11 ( )0.5 (at)11 ( )0.5 (medium)11 ( )0.5 (to)11 ( )0.5 (low)11 ( )0.5 (loads.)11 ( )0.5 (In)11 ( )]TJ 0.039 Tc 0.07 Tw 0 -1.417 Td [(terms)12.8 ( of)12.8 ( demand,)12.9 ( influenced)12.9 ( by)12.9 ( the)12.9 ( global)12.9 ( economic)12.9 ( downturn,)12.8 ( the)12.9 ( overall)12.8 ( production)14 ( )]TJ 0.025 Tc 0.029 Tw 0 -1.417 Td (increase of new energy vehicles fell short of expectations. This in turn\ caused the growth )Tj 0.03 Tw 0 -1.417 Td (rate of power battery demand for NMP to slow down. Trading was inactive \and the focus )Tj 0.006 Tw 0 -1.417 Td [(of )0.5 (negotiations )0.5 (tended )0.5 (to )0.5 (lean )0.5 (towards closing )0.5 (deals )0.5 (at )0.5 (lower )0.5 (prices. )0.5 (In the )0.5 (first )0.5 (half )0.5 (of )0.5 (the )]TJ 0.039 Tc 0.07 Tw 0 -1.417 Td [(year,)12.5 ( the)12.4 ( overall)12.5 ( price)12.4 ( of)12.4 ( BDO,)12.5 ( a)12.5 ( type)12.5 ( of)12.5 ( raw)12.5 ( materials,)12.5 ( fluctuated)12.5 ( at)12.5 ( a)12.4 ( low)12.5 ( level.)12.5 ( The)14 ( )]TJ 0.025 Tc 0.014 Tw 0 -1.417 Td (trend of increase and decrease was slow. This, from a cost perspective, \continued to drive )Tj 0 Tw 0 -1.417 Td (the price of NMP downwards.)Tj ET endstreamendobj75 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 16 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (Dazhou Ko Yo Plant)Tj /T1_0 1 Tf 0.079 Tw 0 -2.833 Td [(Dazhou )0.5 (Ko Yo )0.5 (Plant continued )0.5 (to implement )0.5 (\223production )0.5 (before )0.5 (the year, )0.5 (overhaul after the )]TJ 0.03 Tc 0.078 Tw 0 -1.417 Td [(year\224)5 ( )0.5 (production)5 ( )0.5 (organisation)5 ( )0.5 (mode)5 ( )0.5 (this)5 ( )0.5 (year.)5 ( )0.5 (Subject)5 ( )0.5 (to)5 ( )0.5 (the)5 ( )0.5 (basic)5 ( )0.5 (guaranteed)5 ( )0.5 (supply)5 ( )0.5 (of)5 ( )0.5 (the)5.1 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.417 Td [(natural)4.1 ( )0.5 (gas)4 ( )0.5 (and)4 ( )0.5 (taking)4.1 ( )0.5 (into)4 ( )0.5 (account)4 ( )0.5 (the)4.1 ( )0.5 (market)4 ( )0.5 (condition)4 ( )0.5 (forecast,)4 ( )0.6 (it)4.1 ( )0.5 (postponed)4 ( )0.5 (the)4 ( )0.5 (overhaul)4 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.417 Td [(schedule)8 ( )0.5 (as)8 ( )0.5 (planned,)8 ( )0.5 (making)8.1 ( significant)8 ( )0.5 (contributions)8.1 ( )0.5 (for)8 ( )0.5 (the)8 ( )0.5 (Group\222s)8 ( )0.5 (economic)8 ( )0.5 (efficiency.)8 ( )]TJ 0.025 Tc 0.028 Tw 0 -1.417 Td (After the year-end overhaul, synthetic ammonia units and urea units have\ resumed production )Tj 0.057 Tw 0 -1.417 Td [(since )0.5 (26 )0.5 (March 2024, )0.5 (reaching )0.5 (new )0.5 (high in )0.5 (both )0.5 (production )0.5 (volume )0.5 (and energy )0.5 (consumption )]TJ 0 Tw 0 -1.417 Td (as compared to those at the best level in history in 2023.)Tj /T1_1 1 Tf 0 -2.833 Td (Jiangsu Bluestar Plant)Tj /T1_0 1 Tf 0.08 Tw 0 -2.833 Td (At present, the main construction of Jiangsu Bluestar Green Technology C\o., Ltd.\222s 400,000 )Tj 0.077 Tc 0.07 Tw 0 -1.417 Td [(tonnes/year)12.9 ( propylene)12.9 ( oxide)12.9 ( proje)0.5 (ct)12.9 ( is)12.9 ( basically)12.9 ( completed)12.9 ( and)12.9 ( ha)0.5 (s)12.9 ( entered)12.9 ( into)12.9 ( the)52.1 ( )]TJ 0.025 Tc 0.063 Tw 0 -1.417 Td (commissioning, testing, and procedure handling stage. It is expected to \enter trial production )Tj 0.028 Tc 0.08 Tw 0 -1.417 Td [(in)3 ( )0.5 (the)3 ( )0.5 (fourth)3 ( )0.5 (quarter)3 ( )0.5 (of)3 ( )0.5 (2)3 (0)3 (2)3 (4)3 (.)3 ( )0.5 (Upon)3 ( )0.5 (commissioning)3 ( )0.5 (of)3 ( )0.5 (the)3 ( )0.5 (project,)3 ( )0.5 (it)3 ( is)3 ( )0.5 (expected)3 ( )0.5 (to)3 ( )0.5 (generate)3 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (annual sales of approximately RMB4.0 billion.)Tj /T1_1 1 Tf 0 -2.833 Td (INDUSTRY OVERVIEW AND OUTLOOK)Tj 0 -2.833 Td (Dimethylformamide \(DMF\))Tj /T1_2 1 Tf 0 -2.833 Td (I.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Industry overview for the first half of 2024)Tj /T1_0 1 Tf 0.059 Tw 0 -2.833 Td (According to statistics, the nationwide DMF production capacity is 1.8 m\illion tonnes in )Tj 0 Tw 0 -1.417 Td (2024, an increase of 7.14% compared to 2023. In January-June 2024, the D\MF production )Tj 0.065 Tw 0 -1.417 Td (volume amounted to 436,600 tonnes, an increase of 10.11% compared with t\he first half )Tj 0.061 Tw 0 -1.417 Td [(of )0.5 (2023. )0.5 (In )0.5 (respect )0.5 (of )0.5 (operation, )0.5 (the )0.5 (average )0.5 (monthly )0.6 (rate )0.5 (of )0.5 (operation )0.5 (was )0.5 (at )0.5 (45.83%, )0.5 (a )]TJ 0 Tw 0 -1.417 Td (decrease of 24.02% compared with that in the first half of 2023.)Tj 0.073 Tw 0 -2.833 Td (The DMF market in the first half of 2024 showcased a striking imbalance \in supply and )Tj 0.052 Tc 0.07 Tw 0 -1.417 Td [(demand,)12.4 ( resulting)12.4 ( in)12.4 ( fluctuating)12.4 ( market)12.4 ( trends)12.4 ( at)12.4 ( lower)12.4 ( positions.)12.4 ( From)12.4 ( the)12.4 ( demand)27 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.417 Td [(perspective, )0.5 (both )0.5 (the )0.5 (downstream demand )0.5 (and )0.5 (upstream supply )0.5 (for )0.5 (DMF )0.5 (were )0.5 (higher )0.5 (in )]TJ 0.041 Tw 0 -1.417 Td (the first half of 2024 than they were in the first half of 2023. However\, supply continued )Tj 0.024 Tc 0 Tw 0 -1.417 Td [(to outstrip demand. Demand did not visibly increase during the tradition\al peak season for)-0.9 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.417 Td [(pulp)12 ( )0.5 (in)12 ( )0.5 (March)12 ( )0.5 (and)12 ( )0.5 (April.)12 ( )0.5 (The)12.1 ( )0.5 (trading)12 ( )0.6 (in)12 ( )0.5 (the)12 ( )0.5 (market)12 ( )0.5 (became)12 ( )0.5 (inactive)12 ( )0.5 (again.)12 ( )0.5 (Under)12 ( )0.5 (cost)12 ( )]TJ 0.043 Tc 0.07 Tw 0 -1.417 Td [(pressure,)12.6 ( main)12.5 ( plants)12.6 ( stimulated)12.6 ( demand)12.6 ( by)12.6 ( slightly)12.6 ( raising)12.6 ( prices,)12.6 ( but)12.6 ( the)12.6 ( prices)12.6 ( fell)18 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.417 Td [(short)10.9 ( )0.6 (of)11 ( )0.5 (what)11 ( )0.5 (the)11 ( )0.5 (industry)11 ( )0.5 (expected)11 ( )0.5 (given)11 ( )0.5 (the)11.1 ( )0.5 (difficulty)11 ( )0.5 (in)11 ( )0.5 (increasing)11 ( )0.5 (the)11 ( )0.5 (scale)11 ( )0.5 (of)11 ( )0.5 (their)11 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.417 Td [(operations.)4 ( )0.5 (While)4 ( )0.5 (some)4 ( )0.5 (downstream)4 ( )0.5 (manufacturers)4 ( )0.5 (entered)4 ( )0.5 (the)4.1 ( )0.5 (market)4 ( )0.5 (as)4 ( )0.5 (chances)4.1 ( )0.5 (arose)4 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.417 Td [(and)2 ( increased)1.9 ( )0.5 (their)2 ( )0.5 (stock,)2 ( )0.5 (there)2 ( )0.5 (was)2 ( )0.5 (constant)2 ( )0.5 (pressure)2 ( )0.5 (on)2 ( )0.5 (corporate)2 ( )0.5 (inventory)2 ( )0.5 (levels.)2 ( By)2 ( )]TJ ET endstreamendobj21 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj22 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj23 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 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Tc 0.078 Tw 0 -1.417 Td [(New)5.1 ( )0.5 (projects)5 ( )0.5 (have)5 ( )0.5 (been)5 ( )0.5 (completed)5 ( )0.5 (and)5 ( )0.5 (successfully)5 ( )0.6 (commissioned,)5 ( )0.5 (extending)5 ( )0.5 (the)5 ( )0.5 (industrial)5 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.417 Td [(chain)6 ( )0.5 (and)6 ( )0.5 (enhancing)6 ( )0.5 (the)6 ( )0.5 (Company\222s)6 ( )0.5 (comprehensive)6.1 ( )0.5 (strength.)6.1 ( )0.5 (Standardisation)6.1 ( work,)6 ( )0.5 (such)6 ( )0.5 (as)6 ( )]TJ 0.053 Tc 0.07 Tw 0 -1.417 Td [(t)0.5 (e)0.6 (c)0.5 (h)0.6 (n)0.5 (i)0.5 (c)0.6 (a)0.5 (l)13 ( )0.6 (s)0.5 (t)0.5 (a)0.6 (n)0.5 (d)0.5 (a)0.6 (r)0.5 (d)0.6 (i)0.5 (s)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.6 (n)0.5 (,)13 ( )0.6 (m)0.5 (a)0.5 (n)0.6 (a)0.5 (g)0.5 (e)0.6 (m)0.5 (e)0.6 (n)0.5 (t)13 ( )0.6 (s)0.5 (t)0.5 (a)0.6 (n)0.5 (d)0.5 (a)0.6 (r)0.5 (d)0.6 (i)0.5 (s)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.5 (n)0.6 (,)13 ( )0.6 (w)0.5 (o)0.5 (r)0.6 (k)13 ( )0.5 (s)0.6 (t)0.5 (a)0.5 (n)0.6 (d)0.5 (a)0.6 (r)0.5 (d)0.5 (i)0.6 (s)0.5 (a)0.5 (t)0.6 (i)0.5 (o)0.5 (n)0.5 (,)13.1 ( )0.5 (i)0.6 (n)0.5 (s)0.5 (p)0.6 (e)0.5 (c)0.5 (t)0.6 (i)0.5 (o)0.5 (n)28 ( )]TJ 0.025 Tc 0.035 Tw 0 -1.417 Td (standardisation, etc., was deeply rooted in our staff\222s minds and int\ernalized into their action, )Tj 0.038 Tc 0.07 Tw 0 -1.417 Td [(continuously)12.7 ( strengthening)12.7 ( the)12.7 ( management)12.7 ( foundation,)12.7 ( improving)12.7 ( management)12.7 ( standards,)13 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (and constantly enhancing the Group\222s core competitiveness.)Tj 0.029 Tc 0.079 Tw 0 -2.833 Td [(O)0.5 (v)0.5 (e)0.5 (r)0.5 (a)0.5 (l)0.5 (l)0.5 (,)4 ( )0.5 (i)0.5 (n)4 ( )0.5 (t)0.5 (h)0.5 (e)4 ( )0.5 (f)0.5 (ir)0.5 (s)0.5 (t)4 ( )0.6 (ha)0.5 (l)0.5 (f)4 ( )0.5 (o)0.5 (f)4.1 ( )0.5 (2)3.9 (0)4.1 (2)4 (4)4 (,)4 ( )0.5 (s)0.5 (a)0.5 (f)0.5 (e)0.5 (t)0.5 (y)0.5 (,)4 ( )0.5 (e)0.5 (n)0.5 (v)0.5 (ir)0.5 (o)0.5 (n)0.5 (m)0.5 (e)0.5 (n)0.5 (t)0.5 (a)0.5 (l)4 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (te)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (,)4 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (du)0.5 (c)0.6 (ti)0.5 (o)0.5 (n)0.5 (,)4 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (s)0.5 (u)0.5 (m)0.5 (pt)0.5 (i)0.5 (o)0.5 (n)4 ( )]TJ 0.025 Tc 0.024 Tw 0 -1.417 Td (and cost control were all at an all-time best level in 2023. In the firs\t half of 2024, the natural )Tj 0.046 Tc 0.07 Tw 0 -1.417 Td [(ga)0.5 (s)12.9 ( )0.5 (su)0.5 (ppl)0.5 (y)12.9 ( )0.5 (si)0.5 (tua)0.5 (ti)0.5 (on)12.9 ( )0.5 (im)0.5 (pro)0.5 (ve)0.5 (d,)13 ( w)0.5 (ith)13 ( u)0.5 (sa)0.5 (ge)12.9 ( )0.5 (la)0.5 (rg)0.5 (el)0.5 (y)12.9 ( e)0.5 (ns)0.5 (ur)0.5 (ed)13 ( t)0.5 (hro)0.5 (ugh)13 ( o)0.5 (ngo)0.5 (in)0.5 (g)12.9 ( c)0.5 (oo)0.5 (rd)0.5 (ina)0.5 (ti)0.5 (on.)21.1 ( )]TJ 0.025 Tc 0.03 Tw 0 -1.417 Td (However, natural gas prices rose sharply. Meanwhile, the product market \sentiment oscillated )Tj 0.026 Tw 0 -1.417 Td (downward and then remained at a relatively low level. Under the impact o\f the tough external )Tj 0.038 Tc 0.07 Tw 0 -1.417 Td [(environment)12.9 ( mentioned)12.9 ( above,)12.9 ( the)13 ( Group)12.9 ( made)12.9 ( concerted)13 ( efforts)12.9 ( interna)0.5 (lly)12.9 ( to)12.9 ( stabi)0.5 (lise)12.9 ( the)13 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (overall operation. However, the operating conditions were lower than exp\ected.)Tj /T1_1 1 Tf 0 -2.833 Td (Guang\222an Ko Yo Plant)Tj /T1_0 1 Tf 0.024 Tc 0 -2.833 Td [(Subject to the impact of natural gas supply during the heating season, G\uang\222an Ko Yo Plant\222s)-1 ( )]TJ 0.025 Tc 0.059 Tw 0 -1.417 Td (methanol-ammonia co-production units and KAM units resumed production si\nce 20 January )Tj 0.052 Tc 0.07 Tw 0 -1.417 Td [(and)12.8 ( 2)12.7 (1)12.8 ( February,)12.8 ( respectively,)12.8 ( and)12.8 ( the)12.8 ( production)12.8 ( volume)12.8 ( and)12.8 ( energy)12.8 ( consumption)12.7 ( both)27 ( )]TJ 0.025 Tc 0.001 Tw 0 -1.417 Td [(recorded )0.6 (new )0.5 (high )0.5 (as )0.6 (compared )0.5 (to )0.5 (those )0.6 (at )0.5 (the )0.6 (best )0.5 (level )0.5 (in )0.6 (history )0.6 (in )0.5 (2023. )0.5 (During )0.5 (the )0.6 (period, )]TJ 0.036 Tw 0 -1.417 Td (Guang\222an Ko Yo Plant, through the overall transformation and manageme\nt innovation in the )Tj 0.045 Tc 0.07 Tw 0 -1.417 Td [(past)12.1 ( two)12.1 ( years,)12.1 ( realised)12.1 ( for)12.1 ( the)12.1 ( first)12 ( time)12.1 ( the)12.1 ( steam)12.1 ( balance)12.1 ( in)12.1 ( the)12.1 ( event)12.1 ( of)12.1 ( a)12.1 ( rapid)12.1 ( boiler)20 ( )]TJ 0.044 Tc 0 -1.417 Td [(s)0.5 (h)0.5 (u)0.5 (t)0.5 (d)0.5 (o)0.5 (w)0.5 (n)0.5 (.)13 ( )0.5 (T)0.5 (h)0.5 (i)0.5 (s)13 ( )0.5 (i)0.5 (s)13 ( )0.5 (e)0.5 (x)0.5 (p)0.5 (e)0.5 (c)0.6 (te)0.6 (d)13 ( )0.5 (t)0.5 (o)13 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (t)0.5 (r)0.5 (i)0.5 (b)0.5 (u)0.5 (te)13.1 ( )0.5 (t)0.5 (o)13 ( )0.5 (a)0.5 (n)13 ( )0.5 (i)0.5 (n)0.5 (c)0.5 (r)0.5 (e)0.5 (a)0.5 (s)0.5 (e)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (o)0.5 (v)0.5 (e)0.6 (r)13 ( )0.5 (R)0.5 (M)0.5 (B)13 (2)13 (0)13 ( )0.5 (m)0.5 (i)0.5 (l)0.5 (l)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (i)0.5 (n)13 ( )0.5 (a)0.5 (n)0.5 (n)0.5 (u)0.5 (a)0.5 (l)19 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.417 Td [(revenue. )0.5 (Meanwhile, )0.5 (given )0.5 (the monthly )0.6 (product )0.5 (market prices, )0.5 (Guang\222an )0.5 (Ko )0.5 (Yo Plant )0.5 (made )]TJ 0.036 Tw 0 -1.417 Td (additional contributions for the Company\222s profitability by producing\ more high-profit value-)Tj 0 Tw 0 -1.417 Td (added products through process adjustment.)Tj /T1_1 1 Tf 0 -2.833 Td (Guang\222an Ko Yo New Material Plant)Tj /T1_0 1 Tf 0.053 Tc 0.07 Tw 0 -2.833 Td [(The)12.2 ( 1)12.2 (0)12.2 (0)12.2 (,)12.1 (0)12.2 (0)12.2 (0)12.2 ( tonnes/year)12.2 ( DMF)12.2 ( \(N,N-dimethylformamide\))12.2 ( and)12.1 ( 1)12.2 (0)12.2 (0)12.2 (,)12.2 (0)12.2 (0)12.2 (0)12.2 ( tonnes/year)12.2 ( NMP)28 ( )]TJ 0.041 Tc 0 -1.417 Td [(\(N-methylpyrrolidone\))12.9 ( projects)12.9 ( have)12.9 ( been)12.9 ( put)12.9 ( into)12.9 ( operation)12.9 ( for)12.9 ( three)12.9 ( consecutive)12.9 ( months)16 ( )]TJ 0.025 Tc 0.018 Tw 0 -1.417 Td (following successful commissioning in May 2023. Given the actual operati\ng costs and recent )Tj 0.03 Tc 0.078 Tw 0 -1.417 Td [(market)5 ( )0.5 (conditions,)5 ( )0.5 (the)5.1 ( )0.5 (Company)5 ( )0.5 (has)5 ( )0.5 (decided)5 ( )0.6 (on)5 ( )0.5 (a)5 ( )0.5 (comprehensive)5.1 ( )0.5 (optimisation)5 ( )0.5 (this)5 ( )0.5 (year.)5 ( )0.5 (At)5.1 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.417 Td [(present,)12 ( )0.5 (optimisation)12 ( )0.5 (is)12 ( )0.5 (being)12 ( )0.5 (carried)12 ( )0.5 (out)11.9 ( )0.6 (in)12 ( )0.5 (an)12 ( )0.6 (orderly)12 ( )0.5 (manner)12.1 ( )0.5 (according)12 ( )0.5 (to)12 ( )0.5 (an)12 ( )0.5 (established)12 ( )]TJ 0.025 Tc 0.016 Tw 0 -1.417 Td (plan. Following the optimisation, production costs will significantly de\crease from the current )Tj 0 Tw 0 -1.417 Td (level, greatly enhancing product competitiveness.)Tj ET endstreamendobj83 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 14 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (MANAGEMENT DISCUSSION AND ANALYSIS)Tj 0 -2.833 Td (FINANCIAL PERFORMANCE)Tj /T1_0 1 Tf 0.048 Tc 0.07 Tw 0 -2.833 Td [(For)12.8 ( the)12.9 ( six)12.8 ( months)12.9 ( ended)12.8 ( 3)12.8 (0)12.8 ( June)12.8 ( 2)12.8 (0)12.8 (2)12.9 (4)12.8 (,)12.9 ( the)12.8 ( Group)12.8 ( recorded)12.8 ( a)12.8 ( turnover)12.9 ( of)12.9 ( approximately)23 ( )]TJ 0.065 Tc 0 -1.417 Td [(R)0.5 (M)0.5 (B)13 (1)13 (,)13 (4)13.1 (3)13 (0)13 ( )0.5 (m)0.5 (i)0.5 (l)0.5 (l)0.5 (i)0.5 (o)0.5 (n)0.5 (,)13 ( )0.5 (r)0.5 (e)0.6 (p)0.5 (r)0.5 (e)0.5 (s)0.5 (e)0.5 (n)0.5 (t)0.5 (i)0.5 (n)0.6 (g)13 ( )0.5 (a)0.5 (n)13 ( )0.5 (i)0.5 (n)0.5 (c)0.5 (r)0.5 (e)0.6 (a)0.5 (s)0.5 (e)13 ( )0.5 (o)0.5 (f)13 ( )0.6 (a)0.5 (p)0.5 (p)0.5 (r)0.5 (o)0.5 (x)0.5 (i)0.5 (m)0.5 (a)0.5 (t)0.5 (e)0.6 (l)0.5 (y)13 ( )0.5 (1)13 (.)13 (9)13 (%)13 ( )0.5 (a)0.5 (s)13 ( )0.6 (c)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (r)0.5 (e)0.5 (d)13 ( )0.6 (w)0.5 (i)0.5 (t)0.5 (h)40 ( )]TJ 0.025 Tc 0.012 Tw 0 -1.417 Td (approximately RMB1,403 million for the corresponding period last year. T\he slightly increase )Tj 0.074 Tw 0 -1.417 Td (in turnover was mainly due to the increase in selling of NMP and DMF. Lo\ss attributable to )Tj 0.098 Tc 0.07 Tw 0 -1.417 Td [(shareholders)12.2 ( was)12.2 ( approximately)12.2 ( RMB)12.2 (1)12.1 (2)12.2 (9)12.2 (.)12.2 (7)12.1 ( million)12.2 ( \()12.2 (2)12.2 (0)12.1 (2)12.2 (3)12.2 (:)12.1 ( first)12.2 ( half)12.2 ( year)12.2 ( loss)12.2 ( of)73.1 ( )]TJ 0.069 Tc 0 -1.417 Td [(approximately)12.1 ( RMB)12.1 (1)12.1 (0)12.1 (2)12 (.)12.1 (8)12.1 ( million\),)12.1 ( representing)12.1 ( an)12.1 ( increase)12.1 ( in)12.1 ( loss)12.1 ( of)12.1 ( approximately)44 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.417 Td [(RMB)3 (2)3 (6)3 (.)3 (9)3 ( )0.5 (million)3 ( )0.5 (as)3 ( )0.5 (compared)3 ( )0.5 (with)3 ( )0.5 (the)3 ( )0.5 (corresponding)3 ( )0.5 (period)3 ( )0.5 (last)3 ( )0.5 (year.)3 ( )0.5 (The)3 ( )0.5 (increase)3 ( )0.5 (in)3 ( )0.5 (loss)3 ( )]TJ 0.025 Tc 0.013 Tw 0 -1.417 Td (was mainly due to the decrease in gross profit margin. Basic loss per sh\are was approximately )Tj 0 Tw 0 -1.417 Td (RMB2.15 cents \(2023: first half year basic loss per share of approximat\ely RMB1.71 cents\).)Tj 0.068 Tw 0 -2.833 Td (During the period under review, the total sales volume \(excluding the t\rading portion\) of the )Tj 0.069 Tw 0 -1.417 Td (Group reached approximately 539,000 tonnes \(2023: 521,000 tonnes\), rep\resenting a slightly )Tj 0 Tw 0 -1.417 Td (increase of approximately 3.5% as compared with that of the correspondin\g period last year.)Tj 0.087 Tc 0.07 Tw 0 -2.833 Td [(For)12.6 ( the)12.6 ( period)12.6 ( under)12.6 ( review,)12.6 ( the)12.7 ( gross)12.6 ( profit)12.7 ( margin)12.7 ( of)12.6 ( the)12.7 ( Group)12.7 ( decreased)12.7 ( from)62 ( )]TJ 0.025 Tc 0.044 Tw 0 -1.417 Td (approximately 8.8% to 5.5% as compared with the corresponding period las\t year, which was )Tj 0.047 Tc 0.07 Tw 0 -1.417 Td [(mainly)12.3 ( due)12.3 ( to)12.3 ( the)12.3 ( increase)12.2 ( in)12.3 ( natural)12.3 ( gas)12.3 ( price.)12.3 ( Cost)12.3 ( of)12.3 ( sales)12.2 ( amounted)12.3 ( to)12.3 ( approximately)22 ( )]TJ 0.043 Tc 0 -1.417 Td [(RMB)12.3 (1)12.3 (,)12.2 (3)12.3 (5)12.3 (0)12.3 ( million,)12.3 ( representing)12.2 ( an)12.3 ( increase)12.3 ( of)12.3 ( approximately)12.3 ( 5)12.2 (.)12.3 (5)12.3 (%)12.3 ( as)12.3 ( compared)12.3 ( with)12.3 ( the)18 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.417 Td [(corresponding)11 ( )0.5 (period)11 ( )0.5 (last)11 ( )0.5 (year)11 ( )0.5 (mainly)11 ( )0.5 (due)11.1 ( )0.5 (to)11 ( )0.5 (the)11 ( )0.5 (increase)11 ( )0.5 (in)11 ( )0.5 (natural)11 ( )0.5 (gas)11 ( )0.5 (price.)11 ( )0.5 (Distribution)11 ( )]TJ 0.054 Tc 0.07 Tw 0 -1.417 Td [(costs)12.6 ( decreased)12.6 ( by)12.6 ( approximately)12.6 ( 3)12.6 (6)12.6 (.)12.6 (1)12.6 (%)12.6 ( due)12.6 ( to)12.6 ( the)12.7 ( decrease)12.6 ( in)12.6 ( transportation)12.7 ( cost.)12.6 ( The)29 ( )]TJ 0.093 Tc 0 -1.417 Td [(a)0.5 (d)0.5 (m)0.5 (i)0.5 (n)0.5 (i)0.5 (s)0.5 (t)0.5 (r)0.5 (a)0.5 (t)0.5 (i)0.5 (v)0.5 (e)13 ( )0.5 (e)0.5 (x)0.6 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1 Tf 0.074 Tc 0.07 Tw 0 -2.833 Td [(During)12.7 ( the)12.7 ( period)12.7 ( under)12.7 ( review,)12.6 ( the)12.6 ( Group)12.6 ( and)12.6 ( its)12.7 ( subsidiaries)12.7 ( continued)12.6 ( to)12.7 ( operate)49 ( )]TJ 0.025 Tc 0.035 Tw 0 -1.417 Td (proactively and steadily under the business objective of \223focusing on\ efficiency and changing )Tj 0.069 Tc 0.07 Tw 0 -1.417 Td [(management)12.8 ( mode\224.)12.9 ( The)12.9 ( ince)0.5 (ntive)12.9 ( policies)13 ( implemented)12.9 ( in)12.9 ( early)12.9 ( stage)12.9 ( have)13 ( shown)12.9 ( a)44 ( )]TJ 0.044 Tc 0 -1.417 Td [(conspicuous)12.1 ( effect)12.1 ( by)12.1 ( continuous)12.2 ( optimisation)12.1 ( and)12.1 ( adjustment)12.1 ( in)12.1 ( the)12.1 ( course)12.1 ( of)12.1 ( operation.)19.1 ( )]TJ 0.025 Tc 0.041 Tw 0 -1.417 Td (Across the Group, we work with cohesion and in unison, resulting in a si\gnificant increase in )Tj 0.029 Tc 0.079 Tw 0 -1.417 Td [(team)4 ( )0.5 (dynamics)4.1 ( )0.5 (and)4 ( )0.5 (remarkable)4 ( )0.5 (improvement)4 ( 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0 l S Q 0.45 w q 1 0 0 1 396.8499 522.948 cm 0 0 m 65.197 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 391.1807 522.6201 Tm ( )Tj ET 1.11 w q 1 0 0 1 473.3854 525.048 cm 0 0 m 65.197 0 l S Q 0.45 w q 1 0 0 1 473.3854 522.948 cm 0 0 m 65.197 0 l S Q BT 0.1 0 0 0.1 467.7161 522.6201 Tm ( )Tj /T1_3 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 79.3696 498.503 Tm (Note:)Tj /T1_0 1 Tf 0 Tw /Span<>> BDC ( )Tj EMC 2.835 0 Td (Others are trading of ethyl trifluoroacetate and other chemical products\.)Tj /T1_1 1 Tf 0.021 Tc -5.102 -2.8 Td [(4)-4 (.)]TJ /Span<>> BDC 0.8 0 Td ( )Tj EMC 1.468 0 Td [(RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATING)-4 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.4 Td (ACTIVITIES)Tj 0 Tw 32.991 -2.75 Td (Six months ended 30 June)Tj -0.025 Tw 3.202 -1.4 Td (2024)Tj /T1_0 1 Tf 7.654 0 Td (2023)Tj /T1_2 1 Tf -9.785 -1.4 Td (RMB\222000)Tj /T1_3 1 Tf 7.822 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.8 Td (\(Loss\)/gain before tax)Tj /T1_1 1 Tf -0.025 Tw 34.485 0 Td (\(115,847\))Tj /T1_0 1 Tf 8.179 0 Td (\(97,820\))Tj 0 Tw -42.663 -1.4 Td (Depreciation of property, plant and equipment)Tj /T1_1 1 Tf -0.025 Tw 35.393 0 Td (71,886)Tj /T1_0 1 Tf 7.654 0 Td (73,590)Tj 0 Tw -43.046 -1.4 Td (Depreciation of right-of-use assets)Tj /T1_1 1 Tf -0.025 Tw 35.918 0 Td (1,685)Tj /T1_0 1 Tf 7.654 0 Td (5,225)Tj 0 Tw -43.571 -1.4 Td (Interest income)Tj /T1_1 1 Tf -0.025 Tw 35.535 0 Td (\(7,403\))Tj /T1_0 1 Tf 8.454 0 Td (\(338\))Tj 0 Tw -43.988 -1.4 Td (Interest expense)Tj /T1_1 1 Tf -0.025 Tw 34.868 0 Td (110,385)Tj /T1_0 1 Tf 8.179 0 Td (35,217)Tj 0 Tw -43.046 -1.4 Td (Loss on disposal of fixed assets)Tj /T1_1 1 Tf -0.025 Tw 35.918 0 Td (2,207)Tj /T1_0 1 Tf 8.454 0 Td (951)Tj ET 0.5 w q 1 0 0 1 396.8499 298.4861 cm 0 0 m 65.197 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 391.1806 298.2531 Tm ( )Tj ET q 1 0 0 1 473.3853 298.4861 cm 0 0 m 65.197 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 467.716 298.2531 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3695 271.9361 Tm (Operation cash flow before working capital change)Tj /T1_1 1 Tf -0.025 Tw 35.393 0 Td (62,913)Tj /T1_0 1 Tf 7.654 0 Td (16,825)Tj ET q 1 0 0 1 396.8499 267.4771 cm 0 0 m 65.197 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 391.1806 267.244 Tm ( )Tj ET q 1 0 0 1 473.3853 267.4771 cm 0 0 m 65.197 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 467.716 267.244 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3695 240.927 Tm (\(Increase\)/decrease in inventories)Tj /T1_1 1 Tf -0.025 Tw 35.01 0 Td (\(46,159\))Tj /T1_0 1 Tf 8.037 0 Td (60,070)Tj 0 Tw -43.046 -1.4 Td (\(Increase\)/decrease in trade and other receivables)Tj /T1_1 1 Tf -0.025 Tw 35.01 0 Td (\(93,135\))Tj /T1_0 1 Tf 7.654 0 Td (\(56,813\))Tj 0 Tw -42.663 -1.4 Td (Increase/\(decrease\) in trade an other payables)Tj /T1_1 1 Tf -0.025 Tw 34.868 0 Td (210,882)Tj /T1_0 1 Tf 7.654 0 Td (230,920)Tj 0 Tw -42.521 -1.4 Td (Increase/\(decrease\) in contract liabilities)Tj /T1_1 1 Tf -0.025 Tw 35.535 0 Td (\(1,932\))Tj /T1_0 1 Tf 7.512 0 Td (15,702)Tj 0 Tw -43.046 -1.4 Td (Increase/\(decrease\) in advance from a related company)Tj /T1_1 1 Tf 0 Tc 37.768 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 5.804 0 Td (5,151)Tj ET q 1 0 0 1 396.8499 180.468 cm 0 0 m 65.197 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 391.1806 180.235 Tm ( )Tj ET q 1 0 0 1 473.3853 180.468 cm 0 0 m 65.197 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 467.716 180.235 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3695 153.918 Tm (Cash generated from operating activities)Tj /T1_1 1 Tf -0.025 Tw 34.868 0 Td (132,569)Tj /T1_0 1 Tf 7.654 0 Td (271,855)Tj 0 Tw -42.521 -1.4 Td (Income tax)Tj /T1_1 1 Tf -0.025 Tw 35.01 0 Td (\(19,226\))Tj /T1_0 1 Tf 8.179 0 Td (\(5,397\))Tj ET q 1 0 0 1 396.8499 135.4589 cm 0 0 m 65.197 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 391.1806 135.2259 Tm ( )Tj ET q 1 0 0 1 473.3853 135.4589 cm 0 0 m 65.197 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 467.716 135.2259 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3695 108.9089 Tm (Net cash generated from operating activities after tax)Tj /T1_1 1 Tf -0.025 Tw 34.868 0 Td (113,343)Tj /T1_0 1 Tf 7.654 0 Td (266,458)Tj ET 1.11 w q 1 0 0 1 396.8499 105.392 cm 0 0 m 65.197 0 l S Q 0.45 w q 1 0 0 1 396.8499 103.292 cm 0 0 m 65.197 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 391.1806 102.964 Tm ( )Tj ET 1.11 w q 1 0 0 1 473.3853 105.392 cm 0 0 m 65.197 0 l S Q 0.45 w q 1 0 0 1 473.3853 103.292 cm 0 0 m 65.197 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 467.716 102.964 Tm ( )Tj ET endstreamendobj86 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 7 \226)Tj /T1_1 1 Tf -19.029 58.583 Td (NOTES OF FINANCIAL STATEMENTS)Tj 10 0 0 10 56.6929 697.0479 Tm (1.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (BASIS OF PREPARATION)Tj /T1_0 1 Tf 0.025 Tw 0 -2.8 Td (The Company is an investment holding company. The Group is principally e\ngaged in the manufacture and )Tj 0 Tw 0 -1.4 Td (sale of chemical products and chemical fertilizers in Mainland China.)Tj 0.063 Tc 0.07 Tw 0 -2.8 Td [(The)12.9 ( unaudite)0.5 (d)12.9 ( inte)0.5 (rim)12.9 ( financial)12.9 ( stat)0.5 (ements)12.9 ( have)12.9 ( been)12.9 ( )0.5 (pr)0.5 (epared)12.9 ( in)12.9 ( acc)0.5 (ordance)12.9 ( with)12.9 ( the)12.9 ( H)0.5 (on)0.5 (g)12.9 ( K)0.5 (ong)38 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.4 Td [(Accounting)12 ( )0.5 (Standard)12 ( )0.5 (\(\223HKAS\224\))12 ( )0.5 (3)12 (4)12 ( )0.5 (\223Interim)12 ( )0.5 (Financial)12 ( )0.5 (Reporting\224)12 ( )0.5 (issued)12 ( )0.5 (by)12 ( )0.5 (the)12 ( )0.5 (Hong)12.1 ( )0.5 (Kong)12 ( )0.5 (Institute)12.1 ( )0.5 (of)12 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.4 Td [(Certified)4 ( )0.5 (Public)4 ( )0.5 (Accountants)4 ( )0.5 (\(\223HKICPA\224\))4 ( )0.5 (and)4 ( )0.5 (the)4 ( )0.5 (disclosure)4 ( )0.5 (requirements)4 ( )0.5 (set)4 ( )0.5 (out)4 ( )0.5 (in)4 ( )0.5 (Appendix)4 ( )0.5 (1)4 (6)4 ( )0.5 (of)4 ( )0.5 (the)4 ( )]TJ 0.025 Tc 0.053 Tw 0 -1.4 Td (Rules Governing the Listing of the Securities \(the \223Listing Rules\224\\) on The Stock Exchange of Hong Kong )Tj 0 Tw 0 -1.4 Td (Limited \(the \223Stock Exchange\224\).)Tj /T1_1 1 Tf -2.268 -2.8 Td (2.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (PRINCIPAL ACCOUNTING POLICIES)Tj /T1_0 1 Tf 0.038 Tc 0.07 Tw 0 -2.8 Td [(The)12.4 ( principal)12.4 ( accounting)12.3 ( policies)12.3 ( used)12.4 ( in)12.3 ( the)12.3 ( unaudited)12.3 ( interim)12.3 ( financial)12.4 ( statements)12.4 ( are)12.4 ( consistent)12.4 ( with)13 ( )]TJ 0.025 Tc 0.014 Tw 0 -1.4 Td (those followed in the Group\222s financial statements for the year ended\ 31 December 2023. The measurement )Tj 0.041 Tc 0.07 Tw 0 -1.4 Td [(basis)12.7 ( used)12.7 ( in)12.7 ( the)12.7 ( preparation)12.7 ( of)12.7 ( the)12.7 ( unaudited)12.7 ( interim)12.6 ( financial)12.7 ( statements)12.7 ( is)12.7 ( historical)12.7 ( cost,)12.7 ( except)12.7 ( for)16 ( )]TJ 0.049 Tc 0 -1.4 Td [(certain)12.1 ( investment)12.1 ( properties)12.2 ( and)12.1 ( financial)12.1 ( investments,)12.1 ( which)12.1 ( are)12.2 ( measured)12.1 ( at)12.1 ( fair)12.1 ( values.)12.1 ( All)12.2 ( inter-)]TJ 0.025 Tc 0 Tw 0 -1.4 Td (company transactions and balances within the Group have been eliminated \on consolidation.)Tj 0.055 Tc 0.07 Tw 0 -2.8 Td [(The)12.5 ( Group)12.4 ( had)12.4 ( net)12.5 ( current)12.4 ( liabilities)12.4 ( of)12.4 ( RMB)12.5 (2)12.4 (,)12.4 (9)12.4 (9)12.4 (0)12.4 (,)12.5 (1)12.4 (7)12.4 (8)12.4 (,)12.4 (0)12.4 (0)12.4 (0)12.5 ( as)12.4 ( at)12.4 ( 3)12.4 (0)12.4 ( June)12.4 ( 2)12.4 (0)12.4 (2)12.4 (4)12.4 (.)12.4 ( The)12.4 ( directors)12.4 ( of)12.4 ( the)30.1 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.4 Td [(Compa)0.5 (ny)2 ( )0.5 (have)2 ( )0.5 (give)0.5 (n)2 ( d)0.5 (ue)2 ( )0.5 (conside)0.5 (ration)2 ( )0.5 (to)2 ( )0.5 (the)2 ( )0.5 (liq)0.5 (uidity)2 ( )0.5 (of)2 ( )0.5 (the)2 ( )0.5 (Gro)0.5 (up)2 ( )0.5 (and)2 ( )0.5 (have)2 ( )0.5 (adop)0.5 (ted)2 ( )0.5 (the)2 ( )0.5 (going)2 ( )0.5 (con)0.5 (cern)2 ( )]TJ 0.025 Tc 0.028 Tw 0 -1.4 Td (basis in preparing the consolidated financial statements for the six mon\ths ended 30 June 2024 on the basis )Tj 0.029 Tc 0.079 Tw 0 -1.4 Td [(that)4 ( )0.5 (the)4 ( )0.5 (positive)4 ( )0.5 (cash)4 ( )0.5 (flow)4 ( )0.5 (from)4 ( )0.5 (Guangan)4 ( )0.5 (plant)4 ( )0.5 (and)4 ( )0.5 (Dazhou)4 ( )0.5 (Plant,)4 ( )0.5 (and)4 ( )0.5 (that)4 ( )0.6 (it)4 ( )0.5 (will)4 ( )0.5 (succeed)4 ( )0.5 (in)4.1 ( )0.5 (negotiating)4 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (with its bankers to restructure the outstanding bank loans.)Tj 0 -2.8 Td (The financial statements are unaudited but have been reviewed by the aud\it committee of the Company.)Tj /T1_1 1 Tf 1.193 Tw -2.268 -2.8 Td (3.)Tj /Span<>> BDC ( )Tj EMC (TURNOVER)Tj /T1_0 1 Tf 0 Tw 2.268 -2.8 Td (Turnover represents the net amounts received and receivables for chemica\l products and chemical fertilizers )Tj 0.082 Tw 0 -1.4 Td [(sold, )0.5 (less )0.5 (returns )0.5 (and )0.5 (allowances )0.6 (and )0.5 (value- )0.5 (added )0.5 (taxes, )0.5 (if )0.5 (applicable, )0.5 (during )0.5 (the )0.5 (six )0.5 (months )0.5 (period. )0.5 (The )]TJ 0 Tw 0 -1.4 Td (Group\222s revenues are primarily generated in the People\222s Republic \of China \(the \223PRC\224\).)Tj ET endstreamendobj85 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 6 \226)Tj /T1_1 1 Tf -19.029 58.583 Td (UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY)Tj /T1_2 1 Tf 0 -1.417 Td (For the six months ended 30 June 2024 and 30 June 2023)Tj /T1_1 1 Tf -0.025 Tw 5.4 0 0 9 167.3775 666.5378 Tm (Share )Tj -0.717 -1.444 Td (Capital)Tj 8.066 1.444 Td (Share )Tj -1.549 -1.444 Td (Premium)Tj 8.153 1.444 Td (Merger )Tj -0.192 -1.444 Td (Reserve)Tj -0.025 Tc 0.025 Tw 5.858 1.444 Td (Share-based )Tj -0.586 -1.444 Td (compensation)Tj 0.025 Tc -0.025 Tw 9.426 1.444 Td (Reserve )Tj 1.183 -1.444 Td (Fund)Tj 4.923 2.889 Td (Enterprise )Tj 0.078 -1.444 Td (Expansion )Tj 2.348 -1.444 Td (Fund)Tj 5.695 1.444 Td (Retained )Tj -0.057 -1.444 Td (Earnings)Tj 5.997 1.444 Td (Transaction )Tj 0 Tw 2.376 -1.444 Td (to NCI)Tj -0.025 Tw 8.507 0 Td (NCI)Tj 6.854 0 Td (Total)Tj /T1_2 1 Tf -67.802 -1.444 Td (RMB\222000)Tj 7.349 0 Td (RMB\222000)Tj 7.349 0 Td (RMB\222000)Tj 7.349 0 Td (RMB\222000)Tj 7.349 0 Td (RMB\222000)Tj 7.349 0 Td (RMB\222000)Tj 7.349 0 Td (RMB\222000)Tj 7.349 0 Td (RMB\222000)Tj 7.349 0 Td (RMB\222000)Tj 7.349 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -85.201 -2.889 Td (At 1 January 2023 \(audited\))Tj -0.025 Tw 19.697 0 Td (520,569)Tj 6.549 0 Td (1,548,019)Tj 8.291 0 Td (\(22,041\))Tj 7.207 0 Td (824,265)Tj 7.874 0 Td (45,273)Tj 7.874 0 Td (1,131)Tj 5.116 0 Td (\(1,854,668\))Tj 9.199 0 Td (\(3,509\))Tj 7.732 0 Td (1,087)Tj 5.499 0 Td (1,060,126)Tj 0 Tw -85.039 -2.889 Td (Net loss for the 6 Months ended )Tj 0 Tc 5.4 0 0 9 131.6548 588.5378 Tm ( )Tj 0.025 Tc 5.4 0 0 9 62.1071 575.5378 Tm (30 June 2023)Tj 0 Tc 21.594 0 Td (\226)Tj 7.349 0 Td (\226)Tj 7.349 0 Td (\226)Tj 7.349 0 Td (\226)Tj 7.349 0 Td (\226)Tj 7.349 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.066 0 Td (\(102,831\))Tj 0 Tc 0 Tw 10.632 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.916 0 Td (\(386\))Tj 5.499 0 Td (\(103,217\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 153.0709 571.2488 cm 0 0 m 28.346 0 l S Q BT 0 Tc 0 Tw 0.06 0 0 0.1 181.3844 571.0158 Tm ( )Tj ET q 1 0 0 1 192.756 571.2488 cm 0 0 m 28.346 0 l S Q BT 0.06 0 0 0.1 221.0694 571.0158 Tm ( )Tj ET q 1 0 0 1 232.441 571.2488 cm 0 0 m 28.346 0 l S Q BT 0.06 0 0 0.1 260.7544 571.0158 Tm ( )Tj ET q 1 0 0 1 272.126 571.2488 cm 0 0 m 28.346 0 l S Q BT 0.06 0 0 0.1 300.4395 571.0158 Tm ( )Tj ET q 1 0 0 1 311.8111 571.2488 cm 0 0 m 28.346 0 l S Q BT 0.06 0 0 0.1 340.1245 571.0158 Tm ( )Tj ET q 1 0 0 1 351.4961 571.2488 cm 0 0 m 28.346 0 l S Q BT 0.06 0 0 0.1 379.8096 571.0158 Tm ( )Tj ET q 1 0 0 1 391.1812 571.2488 cm 0 0 m 28.346 0 l S Q BT 0.06 0 0 0.1 419.4946 571.0158 Tm ( )Tj ET q 1 0 0 1 430.8662 571.2488 cm 0 0 m 28.346 0 l S Q BT 0.06 0 0 0.1 459.1797 571.0158 Tm ( )Tj ET q 1 0 0 1 470.5512 571.2488 cm 0 0 m 28.346 0 l S Q BT 0.06 0 0 0.1 498.8647 571.0158 Tm ( )Tj ET q 1 0 0 1 510.2363 571.2488 cm 0 0 m 28.346 0 l S Q BT 0.06 0 0 0.1 538.5497 571.0158 Tm ( )Tj 0.025 Tc 5.4 0 0 9 56.6929 546.5287 Tm (At 30 June 2023)Tj -0.025 Tw 19.697 0 Td (520,569)Tj 6.549 0 Td (1,548,019)Tj 8.291 0 Td (\(22,041\))Tj 7.207 0 Td (824,265)Tj 7.874 0 Td (45,273)Tj 7.874 0 Td (1,131)Tj 5.116 0 Td (\(1,957,499\))Tj 9.199 0 Td (\(3,509\))Tj 8.532 0 Td (701)Tj 5.499 0 Td (956,909)Tj ET 1.11 w q 1 0 0 1 153.0709 542.0479 cm 0 0 m 28.346 0 l S Q 0.45 w q 1 0 0 1 153.0709 539.9479 cm 0 0 m 28.346 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 147.4016 539.6199 Tm ( )Tj ET 1.11 w q 1 0 0 1 192.756 542.0479 cm 0 0 m 28.346 0 l S Q 0.45 w q 1 0 0 1 192.756 539.9479 cm 0 0 m 28.346 0 l S Q BT 0.1 0 0 0.1 187.0867 539.6199 Tm ( )Tj ET 1.11 w q 1 0 0 1 232.441 542.0479 cm 0 0 m 28.346 0 l S Q 0.45 w q 1 0 0 1 232.441 539.9479 cm 0 0 m 28.346 0 l S Q BT 0.1 0 0 0.1 226.7717 539.6199 Tm ( )Tj ET 1.11 w q 1 0 0 1 272.126 542.0479 cm 0 0 m 28.346 0 l S Q 0.45 w q 1 0 0 1 272.126 539.9479 cm 0 0 m 28.346 0 l S Q BT 0.1 0 0 0.1 266.4567 539.6199 Tm ( )Tj ET 1.11 w q 1 0 0 1 311.8111 542.0479 cm 0 0 m 28.346 0 l S Q 0.45 w q 1 0 0 1 311.8111 539.9479 cm 0 0 m 28.346 0 l S Q BT 0.1 0 0 0.1 306.1418 539.6199 Tm ( )Tj ET 1.11 w q 1 0 0 1 351.4961 542.0479 cm 0 0 m 28.346 0 l S Q 0.45 w q 1 0 0 1 351.4961 539.9479 cm 0 0 m 28.346 0 l S Q BT 0.1 0 0 0.1 345.8268 539.6199 Tm ( )Tj ET 1.11 w q 1 0 0 1 391.1812 542.0479 cm 0 0 m 28.346 0 l S Q 0.45 w q 1 0 0 1 391.1812 539.9479 cm 0 0 m 28.346 0 l S Q BT 0.1 0 0 0.1 385.5119 539.6199 Tm ( )Tj ET 1.11 w 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0 0 0.1 538.5277 507.0067 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.693 477.0297 Tm (Current liabilities)Tj /T1_0 1 Tf 1.002 -1.333 Td (Trade and other payables)Tj /T1_2 1 Tf 0 Tc 23.433 0 Td (9)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 4.436 0 Td (1,090,253)Tj /T1_0 1 Tf 7.887 0 Td (785,907)Tj 0 Tw -35.756 -1.333 Td (Contract liabilities)Tj /T1_1 1 Tf -0.025 Tw 29.194 0 Td (60,031)Tj /T1_0 1 Tf 7.087 0 Td (61,963)Tj 0 Tw -36.281 -1.333 Td (Due to a related company)Tj /T1_1 1 Tf -0.025 Tw 28.669 0 Td (713,291)Tj /T1_0 1 Tf 7.087 0 Td (683,041)Tj 0 Tw -35.756 -1.333 Td (Provision for tax)Tj /T1_1 1 Tf -0.025 Tw 29.719 0 Td (5,724)Tj /T1_0 1 Tf 6.562 0 Td (17,667)Tj -36.281 -1.333 Td (Borrowings)Tj /T1_2 1 Tf 23.171 0 Td (10)Tj /T1_1 1 Tf 4.698 0 Td (2,092,958)Tj /T1_0 1 Tf 7.087 0 Td (2,387,146)Tj 0 Tw -34.956 -1.333 Td (Lease liabilities)Tj /T1_1 1 Tf -0.025 Tw 29.719 0 Td (2,254)Tj /T1_0 1 Tf 7.087 0 Td (2,211)Tj 0 Tw -36.806 -1.333 Td (Convertible bonds)Tj /T1_1 1 Tf -0.025 Tw 28.669 0 Td (250,398)Tj /T1_0 1 Tf 7.087 0 Td (342,654)Tj ET q 1 0 0 1 379.8426 360.2307 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4884 359.9977 Tm ( )Tj ET q 1 0 0 1 464.8819 360.2307 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5277 359.9977 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 403.1434 330.0206 Tm (4,214,909)Tj /T1_0 1 Tf 7.087 0 Td (4,280,589)Tj ET q 1 0 0 1 379.8426 325.2216 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4884 324.9886 Tm ( )Tj ET q 1 0 0 1 464.8819 325.2216 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5277 324.9886 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.693 295.0116 Tm (Total liabilities)Tj -0.025 Tw 28.871 0 Td (5,238,548)Tj /T1_0 1 Tf 7.087 0 Td (5,354,515)Tj ET q 1 0 0 1 379.8426 290.2125 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4884 289.9795 Tm ( )Tj ET q 1 0 0 1 464.8819 290.2125 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5277 289.9795 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 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)Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.693 185.2109 Tm (Total assets less current liabilities)Tj -0.025 Tw 28.871 0 Td (1,802,245)Tj /T1_0 1 Tf 7.087 0 Td (1,985,741)Tj ET 1.11 w q 1 0 0 1 379.8426 180.22 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8426 178.12 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1733 177.792 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 180.22 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.882 178.12 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 177.792 Tm ( )Tj ET endstreamendobj95 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 3 \226)Tj /T1_1 1 Tf -19.029 58.583 Td (CONDENSED CONSOLIDATED BALANCE SHEET)Tj /T1_2 1 Tf 0 -1.333 Td (As at 30 June 2024 and 31 December 2023)Tj ET 0 0 0 0 k /GS1 gs 374.173 693.008 85.039 -16 re 374.173 677.008 85.039 -32 re 374.173 645.008 85.039 -16 re 374.173 629.008 85.039 -16 re 374.173 613.008 85.039 -16 re 374.173 597.008 85.039 -16 re 374.173 581.008 85.039 -16 re 374.173 565.008 85.039 -16 re 374.173 549.008 85.039 -16 re 374.173 533.008 85.039 -16 re 374.173 517.008 85.039 -16 re 374.173 501.008 85.039 -16 re 374.173 485.008 85.039 -16 re 374.173 469.008 85.039 -16 re 374.173 453.008 85.039 -3.009 re 374.173 449.999 85.039 -16 re 374.173 433.999 85.039 -16 re 374.173 417.999 85.039 -3.009 re 374.173 414.99 85.039 -16 re 374.173 398.99 85.039 -16 re 374.173 382.99 85.039 -16 re 374.173 366.99 85.039 -16 re 374.173 350.99 85.039 -16 re 374.173 334.99 85.039 -16 re 374.173 318.99 85.039 -16 re 374.173 302.99 85.039 -3.009 re 374.173 299.981 85.039 -16 re 374.173 283.981 85.039 -16 re 374.173 267.981 85.039 -3.009 re 374.173 264.972 85.039 -16 re 374.173 248.972 85.039 -16 re 374.173 227.576 85.039 -16 re 374.173 211.576 85.039 -16 re 374.173 195.576 85.039 -32 re 374.173 163.576 85.039 -16 re 374.173 147.576 85.039 -16 re 374.173 131.576 85.039 -3.009 re 374.173 128.567 85.039 -16 re 374.173 112.567 85.039 -16 re 374.173 96.567 85.039 -16 re 374.173 80.567 85.039 -3.009 re 374.173 77.558 85.039 -16 re 374.173 61.558 85.039 -16 re 374.173 45.558 85.039 -3.009 re f BT 0 0 0 1 k /GS0 gs /T1_1 1 Tf -0.025 Tw 12 0 0 12 388.5399 679.0478 Tm (\(Unaudited\))Tj /T1_0 1 Tf 8.416 0 Td (\(Audited\))Tj /T1_1 1 Tf 0 Tw -5.293 -1.333 Td (As at )Tj -1.162 -1.333 Td (30 June)Tj /T1_0 1 Tf 8.36 1.333 Td (As at )Tj -3.426 -1.333 Td (31 December)Tj /T1_1 1 Tf -0.025 Tw -3.553 -1.333 Td (2024)Tj /T1_0 1 Tf 7.087 0 Td (2023)Tj /T1_2 1 Tf -14.586 -1.333 Td (Notes)Tj /T1_3 1 Tf 5.369 0 Td (RMB\222000)Tj /T1_2 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_1 1 Tf -36.12 -2.667 Td (ASSETS)Tj 0 Tw 0 -1.333 Td (Non-current assets)Tj /T1_0 1 Tf 1.002 -1.333 Td (Property, plant and equipment)Tj /T1_1 1 Tf -0.025 Tw 27.869 0 Td (3,309,799)Tj /T1_0 1 Tf 7.087 0 Td (3,386,449)Tj 0 Tw -34.956 -1.333 Td (Investment properties)Tj /T1_1 1 Tf -0.025 Tw 29.719 0 Td (7,861)Tj /T1_0 1 Tf 7.087 0 Td (7,861)Tj 0 Tw -36.806 -1.333 Td (Right-of-use assets)Tj /T1_1 1 Tf -0.025 Tw 28.669 0 Td (241,105)Tj /T1_0 1 Tf 7.087 0 Td (242,790)Tj 0 Tw -35.756 -1.333 Td (Mining right)Tj /T1_1 1 Tf -0.025 Tw 28.669 0 Td (334,306)Tj /T1_0 1 Tf 7.087 0 Td (334,306)Tj 0 Tw -35.756 -1.333 Td (Other intangible assets)Tj /T1_1 1 Tf -0.025 Tw 29.194 0 Td (69,619)Tj /T1_0 1 Tf 7.087 0 Td (69,619)Tj -36.281 -1.333 Td (Prepayments)Tj /T1_1 1 Tf 28.669 0 Td (806,290)Tj /T1_0 1 Tf 7.087 0 Td (788,029)Tj 0 Tw -35.756 -1.333 Td (Deferred income tax assets)Tj /T1_2 1 Tf -0.025 Tw 23.171 0 Td (11)Tj /T1_1 1 Tf 6.023 0 Td (23,443)Tj /T1_0 1 Tf 7.087 0 Td (16,411)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 450.2487 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4883 450.0157 Tm ( )Tj ET q 1 0 0 1 464.8819 450.2487 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5277 450.0157 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 403.1434 420.0387 Tm (4,792,423)Tj /T1_0 1 Tf 7.087 0 Td (4,845,465)Tj ET q 1 0 0 1 379.8426 415.2397 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4884 415.0067 Tm ( )Tj ET q 1 0 0 1 464.8819 415.2397 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5277 415.0067 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.693 385.0297 Tm (Current assets)Tj /T1_0 1 Tf -0.025 Tw 1.002 -1.333 Td (Inventories)Tj /T1_1 1 Tf 28.669 0 Td (262,264)Tj /T1_0 1 Tf 7.087 0 Td (216,104)Tj 0 Tw -35.756 -1.333 Td (Trade and other receivables)Tj /T1_2 1 Tf 0 Tc 23.433 0 Td (8)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 5.236 0 Td (333,082)Tj /T1_0 1 Tf 7.087 0 Td (239,946)Tj 0 Tw -35.756 -1.333 Td (Restricted bank balances)Tj /T1_1 1 Tf -0.025 Tw 31.044 0 Td (31)Tj /T1_0 1 Tf 7.087 0 Td (31)Tj 0 Tw -38.131 -1.333 Td (Pledged bank deposits)Tj /T1_1 1 Tf -0.025 Tw 28.669 0 Td (576,600)Tj /T1_0 1 Tf 7.087 0 Td (901,856)Tj 0 Tw -35.756 -1.333 Td (Cash and cash equivalents)Tj /T1_1 1 Tf -0.025 Tw 29.194 0 Td (52,754)Tj /T1_0 1 Tf 7.087 0 Td (62,928)Tj ET q 1 0 0 1 379.8426 300.2307 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4884 299.9977 Tm ( )Tj ET q 1 0 0 1 464.882 300.2307 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5278 299.9977 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 403.1435 270.0206 Tm (1,224,731)Tj /T1_0 1 Tf 7.087 0 Td (1,420,865)Tj ET q 1 0 0 1 379.8427 265.2216 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4885 264.9886 Tm ( )Tj ET q 1 0 0 1 464.882 265.2216 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5278 264.9886 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6931 235.0116 Tm (Total assets)Tj -0.025 Tw 28.871 0 Td (6,017,154)Tj /T1_0 1 Tf 7.087 0 Td (6,266,330)Tj ET 1.11 w q 1 0 0 1 379.8427 230.0208 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8427 227.9208 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1734 227.5928 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.882 230.0208 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8821 227.9208 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2128 227.5928 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 56.6931 197.6158 Tm (EQUITY)Tj 0 Tw 0 -1.333 Td (Equity attributable to owners of )Tj 0 Tc ( )Tj 0.025 Tc 0.999 -1.333 Td (the Company)Tj /T1_0 1 Tf 0.002 -1.333 Td (Share capital)Tj /T1_1 1 Tf -0.025 Tw 28.669 0 Td (520,569)Tj /T1_0 1 Tf 7.087 0 Td (520,569)Tj -35.756 -1.333 Td (Reserves)Tj /T1_1 1 Tf 28.669 0 Td (259,732)Tj /T1_0 1 Tf 7.087 0 Td (387,533)Tj ET 0.5 w q 1 0 0 1 379.8427 128.8167 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4885 128.5837 Tm ( )Tj ET q 1 0 0 1 464.882 128.8167 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5278 128.5837 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 412.7435 98.6067 Tm (780,301)Tj /T1_0 1 Tf 7.087 0 Td (908,102)Tj /T1_1 1 Tf 0 Tw -36.757 -1.333 Td (Non-controlling interests)Tj -0.025 Tw 30.338 0 Td (\(1,695\))Tj /T1_0 1 Tf 7.47 0 Td (3,713)Tj ET q 1 0 0 1 379.8427 77.8076 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4885 77.5746 Tm ( )Tj ET q 1 0 0 1 464.882 77.8076 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5278 77.5746 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6931 47.5977 Tm (Total equity)Tj -0.025 Tw 29.671 0 Td (778,606)Tj /T1_0 1 Tf 7.087 0 Td (911,815)Tj ET q 1 0 0 1 379.8427 42.7986 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1734 42.5656 Tm ( )Tj ET q 1 0 0 1 464.882 42.7986 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2128 42.5656 Tm ( )Tj ET endstreamendobj94 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 2 \226)Tj /T1_1 1 Tf -19.029 58.583 Td (INTERIM RESULTS)Tj /T1_0 1 Tf 0.065 Tw 0 -2.625 Td (The board of directors \(the \223Directors\224 or the \223Board\224\) of\ Ko Yo Chemical \(Group\) Limited )Tj 0.028 Tw 0 -1.417 Td (\(the \223Company\224\) is pleased to present the unaudited condensed co\nsolidated operating results )Tj 0.026 Tc 0.082 Tw 0 -1.417 Td [(of)1 ( )0.5 (the)1 ( )0.5 (Company)1 ( )0.5 (and)1.1 ( )0.5 (its)1 ( )0.5 (subsidiaries)1.1 ( )0.5 (\(collectively,)1 ( )0.5 (the)1 ( )0.5 (\223Group\224\))1 ( )0.5 (for)1 ( )0.5 (the)1 ( )0.5 (six)1 ( )0.5 (months)1 ( )0.5 (ended)1 ( )0.5 (3)1 (0)1 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.417 Td [(June)5 ( )0.5 (2)5 (0)5 (2)5 (4)5 ( )0.5 (together)5 ( )0.5 (with)5 ( )0.5 (the)5 ( )0.5 (unaudited)5 ( )0.5 (comparative)5 ( )0.5 (figures)5 ( )0.5 (for)5 ( )0.5 (the)5 ( )0.5 (corresponding)5 ( )0.5 (periods)5 ( )0.5 (in)5.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.417 Td (2023 are as follows:)Tj /T1_1 1 Tf 0.02 Tc 0 -2.833 Td (UNAUDITED CONDENSED CONSOLIDATED PROFIT AND LOSS ACCOUNT)Tj /T1_2 1 Tf 0.025 Tc 0 -1.417 Td (For the six months ended 30 June 2024 and 30 June 2023)Tj ET 0 0 0 0 k /GS1 gs 374.173 541.591 85.039 -14.5 re 374.173 527.091 85.039 -14.5 re 374.173 512.591 85.039 -14.5 re 374.173 498.091 85.039 -14.5 re 374.173 483.591 85.039 -14.5 re 374.173 466.081 85.039 -14.5 re 374.173 451.581 85.039 -14.5 re 374.173 437.081 85.039 -14.5 re 374.173 422.581 85.039 -14.5 re 374.173 408.081 85.039 -14.5 re 374.173 393.581 85.039 -14.5 re 374.173 379.081 85.039 -3.009 re 374.173 376.072 85.039 -14.5 re 374.173 361.572 85.039 -14.5 re 374.173 347.072 85.039 -14.5 re 374.173 332.572 85.039 -3.009 re 374.173 329.563 85.039 -14.5 re 374.173 315.063 85.039 -14.5 re 374.173 300.563 85.039 -14.5 re 374.173 286.063 85.039 -3.009 re 374.173 283.054 85.039 -14.5 re 374.173 268.554 85.039 -14.5 re 374.173 248.659 85.039 -14.5 re 374.173 234.159 85.039 -14.5 re 374.173 219.659 85.039 -14.5 re 374.173 205.159 85.039 -14.5 re 374.173 190.659 85.039 -3.009 re 374.173 187.649 85.039 -14.5 re 374.173 173.149 85.039 -14.5 re 374.173 153.254 85.039 -14.5 re 374.173 138.754 85.039 -14.5 re 374.173 118.858 85.039 -14.5 re 374.173 104.358 85.039 -14.5 re 374.173 84.462 85.039 -14.5 re 374.173 69.962 85.039 -14.5 re f BT 0 0 0 1 k /GS0 gs /T1_1 1 Tf 12 0 0 12 389.085 545.0479 Tm (Six months ended 30 June)Tj -0.025 Tw 3.297 -1.326 Td (2024)Tj /T1_0 1 Tf 7.087 0 Td (2023)Tj /T1_2 1 Tf -14.586 -1.208 Td (Notes)Tj /T1_3 1 Tf 5.369 0 Td (RMB\222000)Tj /T1_2 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_0 1 Tf -36.12 -2.417 Td (Turnover)Tj /T1_2 1 Tf 0 Tc 0 Tw 24.435 0 Td (3)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 4.436 0 Td (1,429,617)Tj /T1_0 1 Tf 7.087 0 Td (1,403,423)Tj 0 Tw -35.957 -1.208 Td (Cost of sales)Tj /T1_1 1 Tf -0.025 Tw 28.488 0 Td (\(1,350,350\))Tj /T1_0 1 Tf 7.087 0 Td (\(1,279,941\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 466.3315 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 466.0985 Tm ( )Tj ET q 1 0 0 1 464.8819 466.3315 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 466.0985 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 439.1215 Tm (Gross profit)Tj /T1_1 1 Tf -0.025 Tw 30.196 0 Td (79,267)Tj /T1_0 1 Tf 6.562 0 Td (123,482)Tj 0 Tw -36.757 -1.208 Td (Interest income)Tj /T1_1 1 Tf -0.025 Tw 30.721 0 Td (7,403)Tj /T1_0 1 Tf 7.887 0 Td (338)Tj 0 Tw -38.607 -1.208 Td (Distribution costs)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(13,542\))Tj /T1_0 1 Tf 7.087 0 Td (\(21,209\))Tj 0 Tw -36.899 -1.208 Td (Administrative expenses)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(84,873\))Tj /T1_0 1 Tf 7.087 0 Td (\(96,224\))Tj 0 Tw -36.899 -1.208 Td (Other income/\(expenses\) \227 net)Tj /T1_1 1 Tf -0.025 Tw 30.721 0 Td (6,283)Tj /T1_0 1 Tf 6.562 0 Td (10,261)Tj ET q 1 0 0 1 379.8425 376.3224 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4883 376.0894 Tm ( )Tj ET q 1 0 0 1 464.8819 376.3224 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5277 376.0894 Tm ( )Tj 0.025 Tc 12 0 0 12 56.693 349.1124 Tm (Operating profit)Tj /T1_1 1 Tf -0.025 Tw 30.338 0 Td (\(5,462\))Tj /T1_0 1 Tf 6.945 0 Td (16,648)Tj 0 Tw -37.282 -1.208 Td (Finance costs)Tj /T1_1 1 Tf -0.025 Tw 29.288 0 Td (\(110,385\))Tj /T1_0 1 Tf 7.087 0 Td (\(114,468\))Tj ET q 1 0 0 1 379.8426 329.8134 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4884 329.5804 Tm ( )Tj ET q 1 0 0 1 464.8819 329.8134 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5277 329.5804 Tm ( )Tj 0.025 Tc 12 0 0 12 56.693 302.6034 Tm (Loss/profit before taxation)Tj /T1_2 1 Tf 0 Tc 24.435 0 Td (4)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 4.853 0 Td (\(115,847\))Tj /T1_0 1 Tf 7.612 0 Td (\(97,820\))Tj -36.899 -1.208 Td (Taxation)Tj /T1_2 1 Tf 0 Tc 0 Tw 24.435 0 Td (5)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 5.378 0 Td (\(19,226\))Tj /T1_0 1 Tf 7.612 0 Td (\(5,397\))Tj ET q 1 0 0 1 379.8426 283.3043 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4884 283.0713 Tm ( )Tj ET q 1 0 0 1 464.882 283.3043 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5278 283.0713 Tm ( )Tj 0.025 Tc 12 0 0 12 56.693 256.0943 Tm (Loss/profit for the period)Tj /T1_1 1 Tf -0.025 Tw 29.288 0 Td (\(135,073\))Tj /T1_0 1 Tf 7.087 0 Td (\(103,217\))Tj ET 1.11 w q 1 0 0 1 379.8426 251.1035 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8427 249.0035 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1733 248.6755 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.882 251.1035 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.882 249.0035 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2127 248.6755 Tm ( )Tj 0.025 Tc 12 0 0 12 56.693 221.6985 Tm (Attributable to:)Tj 0 -1.208 Td (Equity holders of the Company)Tj /T1_1 1 Tf -0.025 Tw 29.288 0 Td (\(129,665\))Tj /T1_0 1 Tf 7.087 0 Td (\(102,831\))Tj 0 Tw -36.374 -1.208 Td (Non-controlling interests)Tj /T1_1 1 Tf -0.025 Tw 30.338 0 Td (\(5,408\))Tj /T1_0 1 Tf 7.887 0 Td (\(386\))Tj ET 0.5 w q 1 0 0 1 379.8427 187.8995 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4885 187.6665 Tm ( )Tj ET q 1 0 0 1 464.882 187.8995 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 538.5278 187.6665 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 408.1476 160.6894 Tm (\(135,073\))Tj /T1_0 1 Tf 7.087 0 Td (\(103,217\))Tj ET 1.11 w q 1 0 0 1 379.8427 155.6986 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8427 153.5986 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1734 153.2706 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.882 155.6986 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8821 153.5986 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2128 153.2706 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6931 126.2936 Tm (Basic \(loss\)/earnings per share )Tj /T1_2 1 Tf (\(RMB cents\))Tj 0 Tc 24.435 0 Td (6)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 6.428 0 Td (\(2.15\))Tj /T1_0 1 Tf 7.087 0 Td (\(1.71\))Tj ET 1.11 w q 1 0 0 1 379.8427 121.3028 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8427 119.2028 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1734 118.8748 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8821 121.3028 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8821 119.2028 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2128 118.8748 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6931 91.8978 Tm (Diluted \(loss\)/earnings per share )Tj /T1_2 1 Tf (\(RMB cents\))Tj 0 Tc 24.435 0 Td (6)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 6.428 0 Td (\(2.15\))Tj /T1_0 1 Tf 7.087 0 Td (\(1.71\))Tj ET 1.11 w q 1 0 0 1 379.8428 86.907 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8428 84.807 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1735 84.479 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8821 86.907 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8821 84.807 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2129 84.479 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6932 57.502 Tm (Declared dividends per share )Tj /T1_2 1 Tf (\(HK cents\))Tj 0 Tc 24.435 0 Td (7)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 7.308 0 Td (Nil)Tj /T1_0 1 Tf 7.087 0 Td (Nil)Tj ET 1.11 w q 1 0 0 1 379.8429 52.5111 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8429 50.4111 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1736 50.0831 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8822 52.5111 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8823 50.4111 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.213 50.0831 Tm ( )Tj ET endstreamendobj90 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 1 \226)Tj /T1_1 1 Tf 0.051 Tw -19.029 58.583 Td (Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong \Kong Limited )Tj 0.046 Tw 0 -1.333 Td (take no responsibility for the contents of this announcement, make no re\presentation as to its )Tj 0.06 Tc 0.07 Tw 0 -1.333 Td [(a)0.5 (cc)0.5 (u)0.5 (ra)0.5 (c)0.5 (y)12.9 ( )0.5 (or)13 ( )0.5 (co)0.5 (m)0.5 (pl)0.5 (e)0.5 (te)0.5 (ne)0.5 (s)0.5 (s)13 ( a)0.5 (nd)13 ( e)0.5 (x)0.5 (pr)0.5 (e)0.5 (s)0.5 (sl)0.5 (y)13 ( d)0.5 (is)0.5 (c)0.5 (la)0.5 (im)13 ( )0.5 (an)0.5 (y)13 ( l)0.5 (ia)0.5 (bi)0.5 (l)0.5 (it)0.5 (y)13 ( w)0.5 (ha)0.5 (t)0.5 (so)0.5 (ev)0.5 (e)0.5 (r)12.9 ( )0.5 (f)0.5 (or)13 ( )0.5 (an)0.5 (y)13 ( l)0.5 (os)0.5 (s)35 ( )]TJ 0.047 Tc 0 -1.333 Td [(howsoever)12 ( arising)12.1 ( from)12.1 ( or)12.1 ( in)12.1 ( reliance)12.1 ( upon)12 ( the)12.1 ( whole)12 ( or)12 ( any)12.1 ( part)12 ( of)12 ( the)12.1 ( contents)12.1 ( of)12.1 ( this)22 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.417 Td (announcement.)Tj ET /PlacedGraphic /MC0 BDC EMC 1 0.8 0 0 k /GS1 gs q 1 0 0 1 280.6596 643.6323 cm 0 0 m -16.767 -29.672 l -16.767 -29.675 l 0 -58.962 l 26.352 -58.962 l 9.536 -29.292 l 26.541 0 l h f Q q 1 0 0 1 275.8976 571.2225 cm 0 0 m 2.996 0 l 2.996 4.267 l 6.915 0 l 11.117 0 l 5.918 5.463 l 10.762 10.418 l 6.833 10.418 l 2.996 6.602 l 2.996 10.418 l 0 10.418 l h f Q q 263.893 567.71 67.491 75.938 re W n 0 0.35 1 0 k q 1 0 0 1 315.2261 643.6478 cm 0 0 m 13.748 -23.366 14.674 -24.933 v 15.6 -26.5 17.025 -30.062 15.457 -32.84 c 13.891 -35.618 0 -59.269 y -3.562 -53.143 l 6.695 -35.405 7.551 -33.838 v 8.404 -32.27 9.615 -29.706 8.049 -26.856 c 6.482 -24.007 -0.072 -12.751 y -5.201 -21.371 -6.057 -22.796 v -6.91 -24.22 -7.338 -26.287 -6.057 -28.708 c -4.773 -31.13 -2.066 -35.69 y -7.836 -45.877 l -13.535 -36.259 -14.891 -33.766 v -16.242 -31.273 -17.383 -29.635 -15.033 -25.574 c -12.682 -21.514 0 0 y f Q q 1 0 0 1 319.2867 623.3456 cm 0 0 m 1.353 -2.565 -0.57 -5.913 v -2.494 -9.261 -6.055 -15.245 y -7.551 -12.467 -5.627 -9.333 v -3.705 -6.198 0 0 y f Q 1 0.8 0 0 k q 1 0 0 1 291.1007 579.4526 cm 0 0 m 2.068 0.045 2.865 -1.506 2.865 -2.967 c 2.865 -4.741 2.068 -6.053 0.041 -6.053 c -2.207 -6.053 -2.764 -4.338 -2.764 -2.967 c -2.764 -1.61 -2.127 0 0 0 c 0.041 2.458 m -3.672 2.458 -6.209 0.331 -6.209 -2.939 c -6.209 -6.484 -3.705 -8.51 0.041 -8.51 c 3.574 -8.51 6.31 -6.513 6.31 -2.968 c 6.31 -0.219 4.304 2.458 0.041 2.458 c f* Q q 1 0 0 1 303.9703 574.9047 cm 0 0 m -2.564 0 -2.777 2.351 y -2.777 6.554 l -6.233 6.554 l -6.233 2.565 l -6.163 -2.493 0 -2.493 v 6.162 -2.493 6.232 2.565 y 6.232 6.554 l 2.777 6.554 l 2.777 2.351 l 2.564 0 0 0 v f Q 0 0.35 1 0 k q 1 0 0 1 301.0152 570.666 cm 0 0 m 0 1.633 1.322 2.956 2.955 2.956 c 4.588 2.956 5.912 1.633 5.912 0 c 5.912 -1.633 4.588 -2.956 2.955 -2.956 c 1.322 -2.956 0 -1.633 0 0 c f Q 1 0.8 0 0 k q 1 0 0 1 316.818 579.4526 cm 0 0 m 2.068 0.045 2.865 -1.506 2.865 -2.967 c 2.865 -4.741 2.068 -6.053 0.041 -6.053 c -2.207 -6.053 -2.764 -4.338 -2.764 -2.967 c -2.764 -1.61 -2.127 0 0 0 c 0.041 2.458 m -3.672 2.458 -6.209 0.331 -6.209 -2.939 c -6.209 -6.484 -3.705 -8.51 0.041 -8.51 c 3.574 -8.51 6.31 -6.513 6.31 -2.968 c 6.31 -0.219 4.303 2.458 0.041 2.458 c f* Q Q BT 0 0 0 1 k /GS0 gs /T1_2 1 Tf 0 Tw 16 0 0 16 176.2869 547.7098 Tm (Ko Yo Chemical \(Group\) Limited)Tj /C0_0 1 Tf 0.225 Tc -0.225 Tw 1.047 -1.25 Td [<04EF0E5502B70288>700 <00800DAB0FA00081>700 <03DE082202AE0321>]TJ /T1_1 1 Tf 0.025 Tc 0 Tw 10 0 0 10 172.7488 510.7099 Tm (\(Incorporated in the Cayman Islands with limited liability\))Tj /T1_2 1 Tf 12 0 0 12 243.2782 493.7098 Tm (\(Stock Code: 00827\))Tj 14 0 0 14 164.5767 461.7098 Tm (INTERIM RESULTS ANNOUNCEMENT)Tj -1.544 -1.214 Td (FOR THE SIX MONTHS ENDED 30 JUNE 202)Tj 0 Tc (4)Tj ET 0 0 0 1 K 0.5 w /GS2 gs q 1 0 0 1 56.6929 426.4199 cm 0 0 m 482.39 0 l S Q q 1 0 0 1 56.9429 56.7486 cm 0 0 m 0 369.421 l S Q q 1 0 0 1 538.8326 56.7486 cm 0 0 m 0 369.421 l S Q q 1 0 0 1 56.6929 56.4986 cm 0 0 m 482.39 0 l S Q BT /GS0 gs 0.025 Tc -0.025 Tw 12 0 0 12 65.4468 409.2079 Tm (HIGHLIGHTS)Tj /T1_0 1 Tf 0.039 Tc 0.07 Tw 0 -2.25 Td [(Unaudited)12.4 ( loss)12.5 ( attributable)12.5 ( to)12.4 ( shareholders)12.4 ( of)12.4 ( the)12.5 ( Group)12.5 ( was)12.4 ( approximately)12.5 ( RMB)12.4 (1)12.5 (2)12.4 (9)12.4 (.)12.4 (7)14 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.25 Td [(million)5 ( )0.5 (for)5.1 ( )0.5 (the)5 ( )0.5 (six)5 ( )0.5 (months)5 ( )0.5 (ended)5.1 ( )0.5 (3)5 (0)4.9 ( )0.5 (June)5 ( )0.5 (2)5 (0)5 (2)5 (4)5 (,)5 ( )0.5 (which)5 ( )0.5 (represented)5 ( )0.5 (an)5 ( )0.5 (increase)5.1 ( )0.5 (of)5 ( )0.5 (loss)5 ( )0.5 (of)5 ( )]TJ 0.025 Tc 0 Tw 0 -1.25 Td (approximately RMB26.9 million as compared to that of the same period las\t year.)Tj 0.054 Tc 0.07 Tw 0 -2.25 Td [(For)12.7 ( the)12.7 ( six)12.6 ( months)12.7 ( ended)12.6 ( 3)12.7 (0)12.6 ( June)12.7 ( 2)12.6 (0)12.7 (2)12.7 (4)12.6 (,)12.7 ( the)12.7 ( Group\222s)12.6 ( unaudited)12.7 ( net)12.7 ( cash)12.7 ( inflow)12.6 ( from)29 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.25 Td [(operating)10 ( )0.5 (activities)10 ( )0.5 (before)10 ( )0.5 (working)10 ( )0.5 (capital)10 ( )0.5 (changes,)10 ( )0.5 (profit)10 ( )0.5 (tax)10 ( )0.5 (and)10 ( )0.5 (interest)10 ( )0.5 (payment)10.1 ( )0.5 (was)10 ( )]TJ 0.047 Tc 0.07 Tw 0 -1.25 Td [(approximately)12.1 ( RMB)12.1 (6)12.1 (2)12.1 (.)12.1 (9)12.1 ( million,)12.2 ( representing)12.1 ( an)12.1 ( increase)12.1 ( of)12.1 ( approximately)12.1 ( RMB)12.1 (4)12.1 (6)12.1 (.)12.1 (1)22 ( )]TJ 0.024 Tc 0 Tw 0 -1.25 Td [(m)0.5 (il)0.5 (l)0.5 (io)0.5 (n)0.5 ( )0.5 (as)0.5 ( )0.5 (c)0.5 (om)0.5 (p)0.5 (ar)0.5 (e)0.5 (d)0.5 ( t)0.5 (o)0.5 ( t)0.5 (h)0.5 (a)0.5 (t )0.5 (o)0.5 (f )0.5 (a)0.5 (p)0.5 (pr)0.5 (o)0.5 (x)0.5 (im)0.5 (a)0.5 (t)0.5 (el)0.5 (y)0.5 ( R)0.5 (M)0.5 (B)0.5 (16)0.5 (.)0.5 (8 )0.5 (m)0.5 (il)0.5 (l)0.5 (io)0.5 (n)0.5 ( )0.5 (in)0.5 ( t)0.5 (h)0.5 (e)0.5 ( )0.5 (co)0.5 (r)0.5 (r)0.5 (es)0.5 (p)0.5 (o)0.5 (nd)0.5 (i)0.5 (ng)0.5 ( )0.5 (pe)0.5 (r)0.5 (i)0.5 (od)-1 ( )]TJ 0.025 Tc 0 -1.25 Td (last year.)Tj 0 -2.25 Td (For the six months ended 30 June 2024, the Group\222s unaudited turnover\ was approximately )Tj 0.034 Tc 0.074 Tw 0 -1.25 Td [(RMB)9 (1)9 (,)9 (4)9 (3)9 (0)9 ( )0.5 (million,)9 ( )0.5 (which)9 ( )0.5 (represents)9 ( )0.5 (an)9 ( )0.5 (increase)9 ( )0.5 (of)9 ( )0.5 (approximately)9 ( )0.5 (1)9 (.)9 (9)9 (%)9 ( )0.5 (as)9 ( )0.5 (compared)9 ( )0.5 (to)9 ( )]TJ 0.025 Tc 0.033 Tw 0 -1.25 Td (the same period last year. The slightly increase in turnover was mainly \due to the increase )Tj 0.04 Tc 0.07 Tw 0 -1.25 Td [(in)12.8 ( selling)12.8 ( of)12.8 ( N-methylpyrrolidone)12.8 ( and)12.8 ( N,N-dimethylformamide.)12.8 ( The)12.9 ( total)12.9 ( sales)12.8 ( volume)14.9 ( )]TJ 0.057 Tc 0.069 Tw 0 -1.25 Td [(\()0.5 (e)0.5 (xc)0.5 (l)0.5 (u)0.5 (di)0.5 (n)0.5 (g)12.9 ( t)0.5 (h)0.5 (e)13 ( )-0.6 (t)0.5 (r)0.5 (ad)0.5 (i)0.5 (ng)13 ( p)0.5 (or)0.5 (t)0.5 (i)0.5 (on)0.5 (\))13 ( )-0.6 (o)0.5 (f)13 ( th)0.5 (e)13 ( G)0.5 (ro)0.5 (u)0.5 (p)12.9 ( r)0.5 (e)0.5 (a)0.5 (c)0.5 (he)0.5 (d)13 ( )-0.6 (a)0.5 (p)0.5 (p)0.5 (r)0.5 (ox)0.5 (i)0.5 (ma)0.5 (t)0.5 (e)0.5 (l)0.5 (y)12.9 ( 5)13 (3)12.9 (9)13 (,)13 (0)12.9 (0)13 (0)13 ( to)0.5 (n)0.5 (ne)0.5 (s)0.5 (,)32 ( )]TJ 0.025 Tc 0.059 Tw 0 -1.25 Td (representing an increase of approximately 3.5% as compared with that of \the same period )Tj 0 Tw 0 -1.25 Td (last year.)Tj 0.029 Tw 0 -2.25 Td (Unaudited basic loss per share of the Group was approximately RMB2.15 ce\nts 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