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1、(於中華人民共和國註冊成立的股份有限公司)(A joint stock limited liability company incorporated in the Peoples Republic of China)Wise Living Technology Co.,Ltd慧居科技股份有限公司股份代號 Stock code:2481Corporate Information2Financial Performance Highlights4Management Discussion and Analysis5Other Information15Interim Condensed Conso
2、lidated Statement of Comprehensive Income21Interim Condensed Consolidated Statement of Financial Position22Interim Condensed Consolidated Statement of Changes in Equity24Interim Condensed Consolidated Statement of Cash Flows25Notes to the Interim Condensed Consolidated Financial Statements26Definiti
3、ons46ContentsCorporate Information2Wise Living Technology Co.,Ltd Interim Report 2023EXECUTIVE DIRECTORSMr.Geng Ming(Chairman)Mr.Li BaoshanMr.Luo WeiNON-EXECUTIVE DIRECTORSMr.Miao WenbinMr.Ma FulinMs.Xu LijieINDEPENDENT NON-EXECUTIVE DIRECTORSDr.Tse Hiu Tung,SheldonMr.Cheung Ho KongDr.Zhu QingSUPERV
4、ISORY COMMITTEEMr.Ma Peilin(Chairman)Mr.Chen ZhenMr.Liu ZhigangAUDIT COMMITTEEMr.Cheung Ho Kong(Chairman)Mr.Miao WenbinDr.Zhu QingREMUNERATION COMMITTEEDr.Zhu Qing(Chairman)Mr.Ma FulinDr.Tse Hiu Tung,SheldonNOMINATION COMMITTEEMr.Geng Ming(Chairman)Dr.Tse Hiu Tung,SheldonDr.Zhu QingJOINT COMPANY SEC
5、RETARIESMr.Ma KeMr.Tso Ping Cheong,Brian FCPA,FCCA,FCG,HKFCGAUTHORISED REPRESENTATIVESMr.Geng MingMr.Luo WeiREGISTERED OFFICE AND HEADQUARTERS IN THE PRCRoom 202,2/FNo.15 Shuangliang RoadLigang StreetJiangyin CityJiangsu ProvinceThe PRCPRINCIPAL PLACE OF BUSINESS IN HONG KONGUnit B,17/F,United Centr
6、e95 QueenswayAdmiraltyHong KongCOMPLIANCE ADVISERGuotai Junan Capital Limited26th Floor to 28th FloorLow BlockGrand Millennium Plaza181 Queens Road CentralHong KongLEGAL ADVISERSAs to Hong Kong lawLlinks Law Offices LLPRoom 3201,32/F,Alexandra House18 Chater RoadCentralHong KongAs to PRC lawLlinks L
7、aw Offices19F,One Lujiazui68 Yin Cheng Road MiddleShanghaiThe PRCCorporate Information3Interim Report 2023 Wise Living Technology Co.,LtdAUDITORPricewaterhouseCoopersCertified Public Accountants Registered Public Interest Entity Auditor22/F,Princes BuildingCentralHong KongH SHARE REGISTRARComputersh
8、are Hong Kong Investor Services LimitedShops 17121716,17th FloorHopewell Centre183 Queens Road EastWan ChaiHong KongPRINCIPAL BANKSJiangsu Jiangyin Rural Commercial Bank Co.,Ltd.Ligang Sub-branchNo.180,Lizhong Street,Ligang TownJiangyin CityJiangsu ProvinceThe PRCChina Construction Bank CorporationJ
9、ianyin Lingang Xincheng Sub-branchNo.151161,Linan Street,Ligang TownJiangyin CityJiangsu ProvinceThe PRCSTOCK CODE2481COMPANY WEBSITE ADDRESShttp:/Financial Performance Highlights4Wise Living Technology Co.,Ltd Interim Report 2023Six months ended 30 June20232022Change(RMB000)(RMB000)(Approx.)(Unaudi
10、ted)(Audited)Interim condensed consolidated statement of comprehensive incomeRevenue710,818638,155+11.4%Profit and total comprehensive income attributable to owners of the Company79,27233,166+138.9%Earnings per share for profit attributable to owners of the Company(expressed in RMB per share)Basic a
11、nd diluted0.350.15+133.3%30 June 202331 December 2022Change(Approx.)(RMB000)(RMB000)(Unaudited)(Audited)Interim condensed consolidated statement of financial positionTotal assets5,038,7205,244,2293.9%Equity attributable to owners of the Company806,364727,117+10.9%Total liabilities4,032,8464,321,6676
12、.7%Management Discussion and Analysis5Interim Report 2023 Wise Living Technology Co.,LtdINDUSTRY OVERVIEWOverview of the Heat Services Industry in the PRCFor the residents in northern regions of the PRC,especially the“Three North Region”,who face extreme cold weather during the winter months,the hea
13、t services industry is one of their most essential services.During the last few years,the demand for heat services in the PRC has been increasing,with the total heat services area increased from 8.8 billion sq.m.in 2018 to 11.2 billion sq.m.in 2022.It is expected that the total heat services area in
14、 the PRC will increase to 14.5 billion sq.m.in 2027.In line with the implementation of carbon peaking and carbon neutrality objectives,PRC government encourages municipal governments to develop different ways of clean heating and accelerate the replacement of traditional coal-fired boilers with clea
15、n energy.Driven by the industry trend of clean heating,heat services companies have been innovating their heating technology and diversifying their heat sources to achieve cleaner and more efficient heating services.Overview of the Engineering Construction Services Industry Specialising in Heat Faci
16、lities in the PRCThe development of the engineering construction services industry specialising in heat facilities in the PRC has benefited from the continuous development of the heating services industry,particularly the growing demand related to existing facility upgrades and new energy-efficient
17、facility construction,and policy support from the PRC government.In anticipation of the continuous development of the heat services market in the PRC,it is expected that the market size of the engineering construction services industry specialising in heat facilities will increase to RMB70.8 billion
18、 in 2027.Overview of the EMC Industry in the PRCThe EMC industry has developed rapidly in the PRC since the beginning of the“12th Five-Year Plan”(中華人民共和國國民經濟和社會發展第十二個五年規劃綱要).In line with the development of electricity and heat services industries in northern China,an increasing number of energy-rela
19、ted enterprises in this region are opting for EMC services as a way to fulfil their environmental protection objectives.The PRC government has also promulgated a series of regulations and policies to offer preferential tax treatments,interest subsidies and financial rewards for companies meeting ene
20、rgy conservation thresholds.BUSINESS REVIEWOverviewWe were the second largest non-State-owned cross-provincial heat service provider in the PRC in terms of actual heat services area in 2022.Since our inception in 2010,we have established a leading position in the heat service industry in the“Three N
21、orth Region”.During the Reporting Period,our revenue was approximately RMB710.8 million,representing a growth of 11.4%as compared with approximately RMB638.2 million for the Corresponding Period.The profit attributable to owners of the Company during the Reporting Period was approximately RMB79.3 mi
22、llion,representing a growth of 138.9%as compared with approximately RMB33.2 million for the Corresponding Period.Business ModelDuring the Reporting Period,we were principally engaged in the provision of(a)heat services to residential and non-residential heat service customers under concession rights
23、;(b)heat-related engineering construction services;and(c)heat-related EMC services.(1)Heat ServicesAs at 30 June 2023,we had six heat service projects under concession rights,three of the six projects were in Shanxi Province,one was in Gansu Province,one was in Inner Mongolia Autonomous Region and o
24、ne was a project under construction in Xinmi of Henan Province.As at 30 June 2023,we had reached the final stage of our preparation to provide heat services in Xinmi.Our provision of heat services in Xinmi is expected to commence from the 2023/24 heat service period in or around November 2023.Manage
25、ment Discussion and Analysis6Wise Living Technology Co.,Ltd Interim Report 2023Our total actual heat service area was approximately 41.9 million sq.m.as at 30 June 2023,representing an increase of 5.3%from approximately 39.8 million sq.m.as at 30 June 2022.For the Reporting Period,revenue generated
26、from our heat services was approximately RMB645.5 million(Corresponding Period:RMB571.0 million),including(a)fees from customers for provision and distribution of heat of approximately RMB503.9 million(Corresponding Period:RMB454.9 million),(b)price subsidies from local government of approximately R
27、MB93.3 million(Corresponding Period:RMB75.8 million),and(c)pipeline connection fee of approximately RMB48.3 million(Corresponding Period:RMB40.3 million).The increase in the revenue generated from heat services for the Reporting Period was mainly attributable to(a)the increase in the actual heat ser
28、vice area,(b)the increase in heat rates for Lanzhou New Area Project,and(c)the increase in revenue from price subsidies for Shuozhou Project.A.Heat Service CustomersDuring the Reporting Period,our heat service customers included both residential and non-residential heat service customers.As at 30 Ju
29、ne 2023,we had approximately 300,000 heat service customers(30 June 2022:282,400).The table below sets out our revenue generated from customers for our provision and distribution of heat by customer type for the periods indicated.Six months ended 30 June20232022RMB000%RMB000%Residential302,21360.027
30、5,14860.5Non-residential201,71840.0179,72039.5 Total503,931100.0454,868100.0 B.Heat SourcesDuring the Reporting Period,our heat sources included(a)heat procured from third party,and(b)heat self-produced by our Group(including heat produced by coal-fired boilers,residual heat collected at cogeneratio
31、n plants and geothermal heat).Our access to different and diversified heat sources can ensure the provision of stable and reliable heat service to our heat service customers.C.Heat DistributionOur heat distribution network comprises two component networks:(a)the primary distribution network,and(b)th
32、e secondary distribution network.As at 30 June 2023,we operated and owned most of our primary distribution pipelines with an aggregate length of approximately 546.9 kilometers(30 June 2022:542.7 kilometers).Management Discussion and Analysis7Interim Report 2023 Wise Living Technology Co.,Ltd(2)Heat-
33、related Engineering Construction ServicesDuring the Reporting Period,revenue generated from our engineering construction services was approximately RMB43.2 million,representing an increase of 3.1%from approximately RMB41.9 million for the Corresponding Period,which was mainly due to the increase in
34、the actual heat service area which brought in more engineering construction activities to facilitate our provision of heat services under concession rights.The table below sets out the revenue generated from our engineering construction services by service type for the period indicated.Six months en
35、ded 30 June20232022RMB000%RMB000%Engineering construction services for our concession operations36,90585.534,77383.0Engineering construction services provided to customers6,24714.57,13517.0 Total43,152100.041,908100.0 (3)Heat-related EMC ServicesDuring the Reporting Period,we provided energy-conserv
36、ation service to an energy consuming enterprise to achieve certain energy-saving goals.For the Reporting Period,revenue generated from this EMC project was approximately RMB1.5 million,representing a decrease of 25.0%from approximately RMB2.0 million for the Corresponding Period,which was derived fr
37、om the share of profit accrued from energy conserved as a result of our energy-conservation services provided.(4)Other BusinessesDuring the Reporting Period,we also engaged in other businesses,including(a)the provision of heat transmission services to a number of customers;(b)the sale of heat servic
38、e facilities(including heat service equipment,devices and relevant parts)to operators who required such facilities for their business operation;and(c)provision of designing services,which mainly consisted of indoor heat operation designing and consulting services,to some government authorities and c
39、ommercial operators.The revenue generated from other businesses amounted to approximately RMB20.6 million,representing a decrease of 11.2%from approximately RMB23.2 million for the Corresponding Period.This was mainly due to the decrease in sale of heat service facilities during the Reporting Period
40、.Management Discussion and Analysis8Wise Living Technology Co.,Ltd Interim Report 2023FINANCIAL REVIEWThe following table sets forth the comparative figures for the six months ended 30 June 2023 and the six months ended 30 June 2022,respectively.Six months ended 30 June20232022RMB000RMB000(Unaudited
41、)(Audited)Revenue710,818638,155Cost of sales(516,214)(500,060)Gross profit194,604138,095Administrative expenses(70,063)(58,987)Reversal/(provision)of impairment losses on financial assets and contract assets21,140(4,042)Other income17,13132,934Other losses net(1,690)(626)Operating profit161,122107,3
42、74Finance income9,68612,652Finance costs(25,310)(51,202)Finance costs net(15,624)(38,550)Share of profit of associates accounted for using the equity method2,935337 Profit before income tax148,43369,161Income tax expenses(35,096)(19,268)Profit and total comprehensive income for the period113,33749,8
43、93 Management Discussion and Analysis9Interim Report 2023 Wise Living Technology Co.,LtdRevenueThe following table sets out our revenue by type of service/product for the periods indicated.Six months ended 30 June20232022RMB000RMB000(Unaudited)(Audited)Heat Services Fees from customers for provision
44、 and distribution of heat503,931454,868 Price subsidies from local government93,29175,831 Pipeline connection fees48,25040,307 Sub-total645,472571,006 Engineering construction services43,15241,908EMC services1,4882,010Heat transmission services2,2593,644Sales of goods10,92415,662Designing services2,
45、5682,905Others4,9551,020 Total710,818638,155 During the Reporting Period,our revenue was mainly generated from(a)fees from customers for provision and distribution of heat,(b)price subsidies from local government,and(c)pipeline connection fees,the majority of which were attributable to(a)and(b).For
46、the Reporting Period,our revenue increased by 11.4%from approximately RMB638.2 million for the Corresponding Period to approximately RMB710.8 million for the Reporting Period,primarily due to(a)the increase in the actual heat service area which resulted in the increase in revenue from fees from cust
47、omers for provision and distribution of heat and pipeline connection fees,(b)the increase in the price subsidies for Shuozhou Project,and(c)the increase in the heat rates for Lanzhou New Area Project.Cost of SalesDuring the Reporting Period,our cost of sales mainly includes(a)costs for purchases of
48、heat,(b)amortisation of intangible assets,(c)materials consumed,and(d)utility costs.Our cost of sales increased by 3.2%from approximately RMB500.1 million for the Corresponding Period to approximately RMB516.2 million for the Reporting Period,primarily attributable to(a)the increase in the amortisat
49、ion of intangible assets,and(b)the increase in the cost for provision and distribution of heat as a result of the expansion of actual heat service area.Management Discussion and Analysis10Wise Living Technology Co.,Ltd Interim Report 2023Gross profit and gross profit marginThe following table sets o
50、ut our gross profit and gross profit margin by type of service/product for the periods indicated.Six months ended 30 June20232022RMB000%RMB000%(Unaudited)(Audited)Heat services179,90627.9122,45321.4Engineering construction services4,54010.55,56113.3EMC services21314.342020.9Heat transmission service
51、s1,58069.92,27862.5Sales of goods5,56851.04,68729.9Designing services1,15945.12,40582.8Others1,63833.129128.5 Total194,60427.4138,09521.6 For the Reporting Period,our gross profit was approximately RMB194.6 million,representing an increase of 40.9%as compared with approximately RMB138.1 million for
52、the Corresponding Period.For the Reporting Period,our gross profit margin was approximately 27.4%(Corresponding Period:21.6%).The increase in gross profit margin was mainly attributable to the improvement in gross profit margin of Lanzhou New Area Project due to increase in heat rates and decrease i
53、n the cost of coal consumed per sq.m.in Lanzhou New Area Project.Administrative ExpensesOur administrative expenses mainly consist of(a)employee benefit expenses,(b)business entertainment expenses,and(c)travelling expenses.Our administrative expenses increased by 18.8%from approximately RMB59.0 mill
54、ion for the Corresponding Period to approximately RMB70.1 million for the Reporting Period,primarily attributable to(a)the increase in the number of employees covered by the social insurance contribution and the adjustment of contribution base of social insurance,which resulted in the increase in em
55、ployee benefit expenses,and(b)the increase in travelling expenses and business entertainment expenses as we had more marketing activities during the Reporting Period.Reversal/(Provision)of Impairment Losses on Financial Assets and Contract AssetsDuring the Reporting Period,we recorded reversal or pr
56、ovisions of impairment losses in respect of our trade,lease and other receivables and contract assets.For the Reporting Period,we recorded a reversal of impairment losses of approximately RMB21.1 million,as compared with a provision of impairment losses of approximately RMB4.0 million for the Corres
57、ponding Period,primarily due to the reversal of impairment losses related to the EMC customer and customers of heat services.Other IncomeDuring the Reporting Period,our other income consisted of(a)government grants,and(b)rental income.For the Reporting Period,our other income was approximately RMB17
58、.1 million,representing a decrease of approximately 48.0%from approximately RMB32.9 million for the Corresponding Period,primarily due to the decrease in government grants provided by the relevant local governments.Management Discussion and Analysis11Interim Report 2023 Wise Living Technology Co.,Lt
59、dOther Losses netDuring the Reporting Period,our other losses-net consisted of fair value losses of investment properties.For the Reporting Period,our other losses-net was approximately RMB1.7 million,representing an increase of approximately 183.3%from approximately RMB0.6 million for the Correspon
60、ding Period,primarily due to an one-off gain on disposal of intangible assets recorded during the Corresponding Period.Finance Income and CostsFor the Reporting Period,our finance income amounted to approximately RMB9.7 million,representing a decrease of approximately 23.6%from approximately RMB12.7
61、 million for the Corresponding Period,primarily due to(a)the decrease in interest income from lease receivables resulting from the modification of EMC which included a decrease in the percentage of sharing revenue and the extension of payment schedule,and(b)the decrease in interest income from finan
62、cing arrangement.For the Reporting Period,our finance costs amounted to approximately RMB25.3 million,representing a decrease of approximately 50.6%from approximately RMB51.2 million for the Corresponding Period,primarily due to(a)the one-off costs incurred from modification of lease receivables res
63、ulting from the modification of EMC,and(b)the decrease in interest expenses on loans.Income Tax ExpensesFor the Reporting Period,our income tax expenses amounted to approximately RMB35.1 million,representing an increase of approximately 81.9%from approximately RMB19.3 million for the Corresponding P
64、eriod,primarily due to the increase in the profit generated by our Group.Profit for the PeriodFor the Reporting Period,profit for the period amounted to approximately RMB113.3 million,representing an increase of approximately 127.1%from approximately RMB49.9 million for the Corresponding Period,prim
65、arily due to(a)the increase in gross profit of our Group,(b)the increase in the amount of reversal of impairment losses made on financial assets and contract assets for the Reporting Period,and(c)the decrease in net finance costs.Profit Attributable to Owners of the CompanyFor the Reporting Period,p
66、rofit attributable to owners of the Company amounted to approximately RMB79.3 million,representing an increase of approximately 138.9%from approximately RMB33.2 million for the Corresponding Period.Profit attributable to owners of the Company was basically in line with the increase in profit for the
67、 Reporting Period.LIQUIDITY AND FINANCIAL RESOURCESDuring the Reporting Period,we financed our operations with cash generated from operating activities and bank borrowings.As at 30 June 2023,we had cash and cash equivalents of approximately RMB206.1 million(31 December 2022:RMB378.1 million)and rest
68、ricted cash balances of approximately RMB85.8 million(31 December 2022:RMB100.4 million).The cash and cash equivalents of our Group are all held in RMB.The restricted cash of our Group were deposits placed with the banks for the issuance of bank acceptance notes and as guarantee deposits of bank bor
69、rowings.As at 30 June 2023,we had current assets of approximately RMB987.2 million(31 December 2022:RMB1,158.5 million)which comprised inventories,trade receivables,prepayments and other receivables,restricted cash and cash and cash equivalents.As at 30 June 2023,we had current liabilities amounted
70、to approximately RMB1,434.4 million(31 December 2022:RMB1,710.3 million).Accordingly,the current ratio,being the ratio of current assets to current liabilities,was around 0.7 times as at 30 June 2023(31 December 2022:0.7 times).Management Discussion and Analysis12Wise Living Technology Co.,Ltd Inter
71、im Report 2023Gearing ratioAs at 30 June 2023,the gearing ratio,calculated by dividing total borrowings by total equity,was 0.9(31 December 2022:1.0).BorrowingsDuring the Reporting Period,our borrowings primarily consisted of bank borrowings.As at 30 June 2023,the bank borrowings were approximately
72、RMB882.9 million(31 December 2022:RMB881.2 million),of which approximately RMB267.0 million will be repayable within 1 year(31 December 2022:RMB246.8 million).Our borrowings were all denominated in RMB.As at 30 June 2023,the bank borrowings of Hulunbuir Shuangliang Energy System Company Limited*(呼倫貝
73、爾雙良能源系統有限公司)amounting to approximately RMB158.0 million(31 December 2022:RMB158.0 million)were guaranteed by our Company and secured by certain trade receivables.The bank borrowings of Lanzhou New Area Shuangliang Thermal Power Company Limited*(蘭州新區雙良熱力有限公司)amounting to approximately RMB104.3 millio
74、n(31 December 2022:RMB174.6 million)was guaranteed by our Company and Gansu Shuangliang and secured by certain intangible assets.In addition,the bank borrowings of Shuozhou City Renewable Energy Thermal Company Limited*(朔州再生能源熱力有限公司)amounting to approximately RMB162.5 million(31 December 2022:RMB175
75、.0 million)was guaranteed by Taiyuan City Renewable Energy Heat Supply Company Limited*(大原市再生能源供熱有限公司),our Company,Shuangliang Group Co.and Mr.Miao Wenbin and secured by price subsidy receivables and certain intangible assets.Furthermore,the bank borrowings of Wise Living Tech-Thermal Power(Zhengzho
76、u)Company Limited*(慧居科技熱力(鄭州)有限公司)amounting to approximately RMB5.5 million(31 December 2022:RMB0.5 million)were guaranteed by our Company and secured by certain trade receivables.As at 30 June 2023,bank borrowings amounting to approximately RMB203.2 million,RMB150.0 million and RMB30.0 million(31 D
77、ecember 2022:RMB203.1 million,RMB100.0 million and nil)were guaranteed by Shuangliang Group Co.,Gansu Shuangliang and our Company,respectively.As at 30 June 2023,the bank borrowings of our Company amounting to approximately RMB10.5 million(31 December 2022:RMB10.5 million)were secured by restricted
78、cash of Zhengzhou Wise Living Thermal Power Company Limited*(鄭州慧居熱力有限公司)of approximately RMB11.1 million.The weighted average effective interest rate of borrowings was 4.82%per annum as at 30 June 2023(31 December 2022:5.09%per annum).As at 30 June 2023,bank borrowings of our Group amounting to appr
79、oximately RMB432.7 million were at fixed interest rates ranging from 4.36%to 5.30%per annum.FOREIGN EXCHANGE EXPOSUREThe principal activities of our Group are operated in the PRC.The exposure to foreign exchange risk is insignificant given the business activities of our Group are all denominated in
80、RMB.Currently,we do not implement any foreign currency hedging policy.We will closely monitor the exchange rate in the market and take appropriate countermeasures and policies when necessary.CAPITAL COMMITMENTSAs at 30 June 2023,we had capital expenditures contracted for but not yet incurred of appr
81、oximately RMB35.2 million as compared to approximately RMB58.0 million as at 31 December 2022.Our capital commitments were mainly related to intangible assets that we purchased for the construction of heat service facilities in order to expand our existing heat service project and prepare for a new
82、heat service project.SIGNIFICANT INVESTMENTS HELD,MATERIAL ACQUISITIONS AND DISPOSALThere were no significant investments,acquisitions and disposals of subsidiaries,associates or joint ventures during the Reporting Period.Management Discussion and Analysis13Interim Report 2023 Wise Living Technology
83、 Co.,LtdCHARGES ON ASSETSAs at 30 June 2023,intangible assets with carrying amount of approximately RMB751.5 million(31 December 2022:RMB771.1 million)were pledged as collateral for the bank borrowings of our Group.As at 30 June 2023,trade receivables with carrying amount of approximately RMB112.6 m
84、illion(31 December 2022:RMB121.0 million)were pledged as collateral for the bank borrowings of our Group.CONTINGENT LIABILITIESOur Group did not have any material contingent liabilities as at 30 June 2023.TREASURY AND INVESTMENT POLICYIt is our treasury management policy to utilise surplus cash rese
85、rves to invest in financial products and generate income without interfering with our business operations or capital expenditures,in order to provide sustainable benefits for our Group.Mr.Luo Wei,one of our executive Directors,a deputy general manager of our Company and the Board secretary,and Mr.Ya
86、ng Xiaojin,the chief financial officer of our Company,both possess the management expertise for the investment in financial products.To control the risks of our Group,we typically invest in low-risk and short-term financial products issued by banks in the PRC.EMPLOYMENT,REMUNERATION POLICY AND TRAIN
87、INGAs at 30 June 2023,our Group had 941 employees(31 December 2022:887).For the Reporting Period,the total employee benefit expenses of our Group were approximately RMB44.8 million.The remuneration package of our employees includes basic salary,performance salary and allowances.We determine employee
88、 remuneration based on factors such as qualifications,expertise and years of relevant experience.We have complied with and will continuously comply with,PRC laws and regulations relating to social welfare.In accordance with applicable PRC regulations,our Group currently participates in social insura
89、nce contribution plan organised by the relevant local governments.No forfeited contribution was available and utilised by our Group to reduce its future contributions to the social insurance contribution plan for the Reporting Period.Our Group currently provides employees with a pension insurance pr
90、ogramme,medical insurance programme,unemployment insurance programme,individual work injury programme,maternity insurance contributions and employee public housing reserve contributions and other welfare benefits.Our Group highly values its employees and places emphasis on the development of its emp
91、loyees.In order to advance the skills and knowledge of its employees as well as to explore new potentials from its workforce,our Group has invested in continuing education and training programmes for its management and ordinary staff members to update their skills and knowledge periodically.Generall
92、y,our training focuses on matters relating to our operation,technical knowledge and work safety standards and environmental protection.QUALITATIVE AND QUANTITATIVE DISCLOSURE ABOUT FINANCIAL RISKSOur Groups activities expose us to a variety of financial risks:market risk,credit risk and liquidity ri
93、sk.Our Groups overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on our Groups financial performance.Please refer to note 5 to the interim condensed consolidated financial statement included in this interim report fo
94、r further details.Management Discussion and Analysis14Wise Living Technology Co.,Ltd Interim Report 2023PROSPECTSOur Xinmi Project has reached the final stage of preparation to provide heat services.The provision of heat services in Xinmi is expected to commence from the 2023/24 heat service period
95、in around November 2023.Therefore,it is expected that all six concession held by us will be in operation for the upcoming 2023/24 heat service period.The commencement of heat service operation in Xinmi will enable us to achieve growth in our Groups total actual heat service area,and increase fees fr
96、om customers for provision and distribution of heat for the second half of 2023.Meanwhile,we will continue to keep pace with local urban developments within our Concession Area to expand the business which is in line with the needs of the heat service customers.We also plan to enhance our heat servi
97、ce capacity so that we can continue to provide stable heat services to our new and existing heat service customers.Our Group will also make development plans in acquiring project to tap into other heat service markets.EVENTS AFTER THE REPORTING PERIODOur Company was listed on the Main Board of the S
98、tock Exchange on 10 July 2023.In connection with the Global Offering,75,600,000 new H Shares were issued and allotted at the offer price of HK$3.60 per H Share.Save as disclosed,there are no events causing material impact on our Group from the end of the Reporting Period to the date of this interim
99、report.FUTURE PLANS FOR MATERIAL INVESTMENTS AND CAPITAL ASSETSOur Company intends to utilise the net proceeds raised from the Global Offering according to the plans set out in the section headed“Future Plans and Use of Proceeds”in the Prospectus.Save as disclosed above,as at the date of this interi
100、m report,our Company did not have any future plans for material investments or additions of capital assets.Other information15Interim Report 2023 Wise Living Technology Co.,LtdINTERESTS AND SHORT POSITIONS OF DIRECTORS,SUPERVISORS AND CHIEF EXECUTIVE IN SHARES,UNDERLYING SHARES AND DEBENTURES OF THE
101、 COMPANY OR ANY OF ITS ASSOCIATED CORPORATIONSAs at 30 June 2023,the H Shares were not yet listed on the Stock Exchange and accordingly,the provisions of Divisions 7 and 8 of Part XV of the SFO were not applicable to our Company.As at the date of this interim report,the interests and short positions
102、 of the Directors,supervisors and chief executive of our Company in the Shares,underlying Shares and debentures of our Company or any of its associated corporations(within the meaning of Part XV of the SFO)which(a)were required to be notified to our Company and the Stock Exchange pursuant to Divisio
103、ns 7 and 8 of Part XV of the SFO(including interests and short positions which they have taken,or are deemed to have taken under such provisions of the SFO);or(b)were required,pursuant to section 352 of the SFO,to be entered in the register referred to therein;or(c)were required,pursuant to the Mode
104、l Code,to be notified to our Company and the Stock Exchange were as follows:Name of Director/supervisor/chief executivePositionClass of SharesNature of interestNumber of Shares(1)Approximate percentage of shareholding in our Company(2)Approximate percentage of shareholding in the relevant class of S
105、hares of our Company(3)Mr.Geng MingChairman and executive DirectorDomestic SharesBeneficial Owner2,000,0000.66%0.88%Mr.Li BaoshanExecutive DirectorDomestic SharesBeneficial Owner6,000,0001.99%2.65%Mr.Miao Wenbin(4)Non-executive DirectorDomestic SharesOther interests201,000,00066.66%88.94%Mr.Ma Fulin
106、(4)Non-executive DirectorDomestic SharesOther interests201,000,00066.66%88.94%Mr.Ma Peilin(4)SupervisorDomestic SharesOther interests201,000,00066.66%88.94%Mr.Chen Zhen(5)SupervisorDomestic SharesInterest of spouse201,000,00066.66%88.94%Notes:1.All interests stated are long position.2.This is based
107、on the total Shares(including Domestic Shares and H Shares)in issue as at the date of this interim report,being 301,600,000.3.This is based on the total Domestic Shares in issue as at the date of this interim report,being 226,000,000.4.Shuangliang Technology and Jiangsu Lichang hold 150,000,000 and
108、51,000,000 Domestic Shares respectively.The non-executive Directors,namely Mr.Miao Wenbin and Mr.Ma Fulin,and the supervisor of our Company,namely Mr.Ma Peilin,together with other five individuals,namely,Mr.Miao Shuangda,Mr.Miao Zhiqiang,Ms.Miao Shuya,Mr.Miao Heida and Mr.Jiang Rongfang(the“Individu
109、al Shareholders”),are the respective legal and beneficial owners of the entire issued share capital of Shuangliang Technology and Jiangsu Lichuang.Shuangliang Technology and Jiangsu Lichuang and the Individual Shareholders are considered as a group of the Controlling Shareholders of our Company as t
110、he Individual Shareholders have decided to restrict their abilities to exercise direct control over our Company by holding their equity interests through Shuangliang Technology and Jiangsu Lichuang.The Individual Shareholders in turn indirectly and jointly hold 201,000,000 Domestic Shares through Sh
111、uangliang Technology and Jiangsu Lichuang.Shuangliang Technology,Jiangshu Lichuang and the Individual Shareholders collectively are deemed to be interested in 66.66%of the equity interest in our Company.Other information16Wise Living Technology Co.,Ltd Interim Report 20235.Mr.Chen Zhen is the spouse
112、 of Ms.Miao Shuya,and Mr.Chen Zhen is thus deemed to be interested in the Domestic Shares held by Ms.Miao Shuya.Save as disclosed above,as at the date of this Interim Report,none of the Directors,supervisors,chief executive of our Company and/or their respective associates had any interests or short
113、 positions in the Shares,underlying Shares or debentures of our Company or any of its associated corporations(within the meaning of Part XV of the SFO)which(a)were required to be notified to our Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO(including interests an
114、d short positions which they have taken or are deemed to have taken under such provisions of the SFO),or(b)were required,pursuant to section 352 of the SFO,to be entered in the register referred to therein,or(c)were required,pursuant to the Model Code,to be notified to our Company and the Stock Exch
115、ange.DIRECTORS RIGHTS TO ACQUIRE SHARES OR DEBENTURESSave as disclosed in the section headed“Interests and Short Positions of Directors,Supervisors and Chief Executive in Shares,Underlying Shares and Debentures of the Company or any of its Associated Corporations”of this interim report,no rights to
116、acquire benefits by means of the acquisition of Shares in or debentures of our Company were granted to any Director or their respective spouse or children under 18 years of age,or were such rights exercised by them;or was our Company or any of its subsidiaries a party to any arrangement to enable th
117、e Directors,or their respective spouse or children under 18 years of age,to acquire such rights in any other body corporate from the Listing Date to the date of this interim report.SUBSTANTIAL SHAREHOLDERS INTERESTS AND/OR SHORT POSITIONS IN SHARES AND UNDERLYING SHARESAs at 30 June 2023,the H Share
118、s were not yet listed on the Stock Exchange and accordingly,the provisions of Divisions 2 and 3 of Part XV of the SFO were not applicable to our Company.As at the date of this interim report,according to the register kept by our Company under Section 336 of SFO and so far as were known to the Direct
119、ors,the following persons(otherwise than in the capacity of the Director,supervisor or chief executive of our Company)who had interests or short positions in the Shares or the underlying Shares of our Company which would fall to be disclosed under the provisions of Divisions 2 and 3 of Part XV of th
120、e SFO were as follows:Name of ShareholderClass of SharesNature of InterestNumber of Shares(1)Approximate percentage of shareholding interest in our Company(2)Approximate percentage of shareholding in the relevant class of Shares of our Company(3)Shuangliang Technology(4)Domestic SharesBeneficial own
121、er150,000,00049.75%66.37%Jiangsu Lichuang(4)Domestic SharesBeneficial owner51,000,00016.91%22.57%Xingyi Investment Management(Hong Kong)Limited(5)H SharesBeneficial owner15,660,0005.19%20.71%Ms.Zhou Xiaoping(5)H SharesInterest in a controlled corporation15,660,0005.19%20.71%Other information17Interi
122、m Report 2023 Wise Living Technology Co.,LtdName of ShareholderClass of SharesNature of InterestNumber of Shares(1)Approximate percentage of shareholding interest in our Company(2)Approximate percentage of shareholding in the relevant class of Shares of our Company(3)Jiang Gang International Investm
123、ent Company Limited(6)H SharesBeneficial owner14,823,0004.91%19.61%Jiangyin State-owned Capital Holding Group Financial Investment Company Limited*(江陰國有資本控股集團金融投資有限公司)(6)H SharesInterest in a controlled corporation14,823,0004.91%19.61%Jiangyin State-owned Capital Holding(Group)Company Limited*(江陰國有資
124、本控股(集團)有限公司)(6)H SharesInterest in a controlled corporation14,823,0004.91%19.61%Ms.Chen Yang(7)Domestic SharesInterest of spouse201,000,00066.66%88.94%Ms.Miao Minhua(8)Domestic SharesInterest of spouse201,000,00066.66%88.94%Ms.Li Dongju(9)Domestic SharesInterest of spouse201,000,00066.66%88.94%Mr.Mi
125、ao Shuangda(10)Domestic SharesOther interest201,000,00066.66%88.94%Ms.Zhu Duomei(11)Domestic SharesInterest of spouse201,000,00066.66%88.94%Mr.Miao Zhiqiang(10)Domestic SharesOther interest201,000,00066.66%88.94%Ms.Lu Hongxia(12)Domestic SharesInterest of spouse201,000,00066.66%88.94%Ms.Miao Shuya(1
126、0)Domestic SharesOther interest201,000,00066.66%88.94%Mr.Miao Heida(10)Domestic SharesOther interest201,000,00066.66%88.94%Ms.Zhu Meifeng(13)Domestic SharesInterest of spouse201,000,00066.66%88.94%Mr.Jiang Rongfang(10)Domestic SharesOther interest201,000,00066.66%88.94%Ms.Chen Rongxiu(14)Domestic Sh
127、aresInterest of spouse201,000,00066.66%88.94%Notes:1.All interests stated are long position.2.This is based on the total Shares(including Domestic Shares and H Shares)in issue as at the date of this interim report,being 301,600,000.Other information18Wise Living Technology Co.,Ltd Interim Report 202
128、33.This is based on the total Domestic Shares and H Shares in issue as at the date of this interim report,being 226,000,000 and 75,600,000 respectively.4.The registered capital of Shuangliang Technology and Jiangsu Lichuang are held as to 20%by Mr.Miao Shuangda,15%by Mr.Miao Wenbin,10%by Mr.Miao Zhi
129、qiang,10%by Ms.Miao Shuya,10%by Mr.Miao Heida,15%by Mr.Jiang Rongfang,10%by Mr.Ma Fulin and 10%by Mr.Ma Peilin,respectively.The Individual Shareholders are the respective legal and beneficial owners of the entire issued share capital of Shuangliang Technology and Jiangsu Lichuang.Shuangliang Technol
130、ogy and Jiangsu Lichuang and the Individual Shareholders are considered as a group of the Controlling Shareholders of our Company as the Individual Shareholders have decided to restrict their abilities to exercise direct control over our Company by holding their equity interests through Shuangliang
131、Technology and Jiangsu Lichuang.Shuangliang Technology is thus deemed to be interested in the 51,000,000 Domestic Shares held by Jiangsu Lichuang and Jiangsu Lichuang is thus deemed to be interested in the 150,000,000 Domestic Shares held by Shuangliang Technology.Shuangliang Technology,Jiangshu Lic
132、huang and the Individual Shareholders collectively are deemed to be interested in 66.66%of the equity interest in our Company.5.Xingyi Investment Management(Hong Kong)Limited is wholly-owned by Ms.Zhou Xiaoping,and Ms.Zhou Xiaoping is thus deemed to be interested in the H Shares held by Xingyi Inves
133、tment Management(Hong Kong)Limited.6.Jiang Gang International Investment Company Limited is wholly-owned by Jiangyin State-owned Capital Holding Group Financial Investment Company Limited*(江陰國有資本控股集團金融投資有限公司)which in turn is wholly-owned by Jiangyin State-owned Capital Holding(Group)Company Limited*
134、(江陰國有資本控股(集團)有限公司).Jiangyin State-owned Capital Holding Group Financial Investment Company Limited*(江陰國有資本控股集團金融投資有限公司)and Jiangyin State-owned Capital Holding(Group)Company Limited*(江陰國有資本控股(集團)有限公司)are thus deemed to be interested in the H Shares held by Jiang Gang International Investment Company
135、 Limited.7.Ms.Chen Yang is the spouse of Mr.Miao Wenbin,and Ms.Chen Yang is thus deemed to be interested in the Domestic Shares held by Mr.Miao Wenbin.8.Ms.Miao Minhua is the spouse of Mr.Ma Fulin,and Ms.Miao Minhua is thus deemed to be interested in the Domestic Shares held by Mr.Ma Fulin.9.Ms.Li D
136、ongju is the spouse of Mr.Ma Peilin,and Ms.Li Dongju is thus deemed to be interested in the Domestic Shares held by Mr.Ma Peilin.10.Shuangliang Technology and Jiangsu Lichang hold 150,000,000 and 51,000,000 Domestic Shares respectively.The Individual Shareholders are the respective legal and benefic
137、ial owners of the entire issued share capital of Shuangliang Technology and Jiangsu Lichuang.Shuangliang Technology and Jiangsu Lichuang and the Individual Shareholders are considered as a group of the Controlling Shareholders of our Company as the Individual Shareholders have decided to restrict th
138、eir abilities to exercise direct control over our Company by holding their equity interests through Shuangliang Technology and Jiangsu Lichuang.The Individual Shareholders in turn indirectly and jointly hold 201,000,000 Domestic Shares through Shuangliang Technology and Jiangsu Lichuang.11.Ms.Zhu Du
139、omei is the spouse of Mr.Miao Shuangda,and Ms.Zhu Duomei is thus deemed to be interested in the Domestic Shares held by Mr.Miao Shuangda.12.Ms.Lu Hongxia is the spouse of Mr.Miao Zhiqiang,and Ms.Lu Hongxia is thus deemed to be interested in the Domestic Shares held by Mr.Miao Zhiqiang.13.Ms.Zhu Meif
140、eng is the spouse of Mr.Miao Heida,and Ms.Zhu Meifeng is thus deemed to be interested in the Domestic Shares held by Mr.Miao Heida.14.Ms.Chen Rongxiu is the spouse of Mr.Jiang Rongfang,and Ms.Chen Rongxiu is thus deemed to be interested in the Domestic Shares held by Mr.Jiang Rongfang.Save as disclo
141、sed above,as at the date of this interim report,according to the register kept by our Company under Section 336 of the SFO and so far as were known to the Directors,there was no other person(otherwise than in the capacity of the Director,supervisor or chief executive of our Company)who had interests
142、 or short positions in the Shares or the underlying Shares of our Company which would fall to be disclosed under the provisions of Divisions 2 and 3 of Part XV of the SFO.Other information19Interim Report 2023 Wise Living Technology Co.,LtdPURCHASE,SALE OR REDEMPTION OF LISTED SECURITIESNeither our
143、Company nor any of its subsidiaries purchased,sold or redeemed any of our Companys listed securities since the Listing Date and up to the date of this interim report.INTERIM DIVIDENDNo interim dividend was declared and paid by our Company for the six months ended 30 June 2023(six months ended 30 Jun
144、e 2022:nil).CORPORATE GOVERNANCEOur Company has adopted the CG Code as its own code of corporate governance.Continuous efforts are made to review and enhance its internal controls and procedures in light of changes in regulations and developments in best practices.As the H Shares were listed on the
145、Stock Exchange on 10 July 2023,the principles and code provisions of the CG Code were not applicable to our Company during the Reporting Period.From the Listing Date to the date of this interim report,in the opinion of the Directors,our Company has complied with all the principles and code provision
146、s as set out in the CG Code.COMPLIANCE WITH THE MODEL CODE FOR SECURITIES TRANSACTIONSSince the Listing Date,our Company has adopted a code of conduct regarding Directors and supervisors securities transactions on terms no less exacting than the Model Code.Having made specific enquiries with all the
147、 Directors and supervisors,each of the Directors and supervisors confirmed that he/she has complied with the required standards as set out in the Model Code from the Listing Date to the date of this interim report.Meanwhile,our Company was not aware of any events of non-compliance with the Model Cod
148、e by the relevant employees from the Listing Date to the date of this interim report.DIRECTORS RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTSThe Directors acknowledge their responsibilities in relation to the preparation of financial statements and accounts of our Group and on ensuring tha
149、t the financial statements of our Group are prepared in accordance with the relevant regulations and applicable accounting standards and that the financial statements of our Company are published in a timely manner.CHANGES IN INFORMATION OF DIRECTORS,SUPERVISORS AND SENIOR MANAGEMENTThere have been
150、no changes in the information of Directors,supervisors and members of senior management since the publication of the Prospectus,which are required to be disclosed pursuant to Rule 13.51B(1)of the Listing Rules.AUDIT COMMITTEE AND REVIEW OF INTERIM FINANCIAL STATEMENTSOur Company has established the
151、Audit Committee with the terms of reference in compliance with relevant laws and regulations of the PRC,Rule 3.21 of the Listing Rules and paragraph D.3.3 of part 2 of the CG Code.The Audit Committee consists of two independent non-executive Directors,namely Mr.Cheung Ho Kong(being the chairman of t
152、he Audit Committee),Dr.Zhu Qing and one non-executive Director,namely Mr.Miao Wenbin.The unaudited interim condensed consolidated financial information of our Group for the six months ended 30 June 2023 has been reviewed by the auditor of our Company,PricewaterhouseCoopers,in accordance with Interna
153、tional Standard on Review Engagements 2410,“Review of Interim Financial Information Performed by the Independent Auditor of the Entity”.The Audit Committee has reviewed the unaudited interim results of our Group for the six months ended 30 June 2023 and concluded that such interim results had been p
154、repared in accordance with applicable accounting standards and relevant requirements,and that adequate disclosures have been made and have no disagreement with the accounting treatment adopted.The Audit Committee has also discussed matters with respect to the accounting policies and practices adopte
155、d by our Company and internal control with senior management members of our Company.Other information20Wise Living Technology Co.,Ltd Interim Report 2023USE OF NET PROCEEDS FROM GLOBAL OFFERINGOur Company was successfully listed on the Main Board of the Stock Exchange on 10 July 2023.The net proceed
156、s from the Global Offering,after deduction of the underwriting fees and commissions and expenses payable by our Company in connection with the Global Offering,amounted to approximately HK$187.5 million.There has been no change in the intended use of net proceeds as previously disclosed in the Prospe
157、ctus.For the Reporting Period,our Group has not utilised the net proceeds.Net proceeds from the Global Offering have been,and will be,utilised in accordance with the proportion of use allocation as set out in the section headed“Future Plan and Use of Proceeds”in the Prospectus.The table below sets o
158、ut the planned applications of the net proceeds and actual usage from the Listing Date up to 25 August 2023:Major usesPercentage of net proceedsPlanned allocation of Net ProceedsPlanned allocation of Net Proceeds(2)Utilised amount (as at 25 August 2023)Unutilised amount (as at 25 August 2023)Expecte
159、d timeline for utilising the unutilised net proceeds from the Global Offering(1)(HKD million)(RMB million)(RMB million)(RMB million)Lanzhou Peak-shaving Boiler Construction50.0%93.785.35.779.6On or before 31 December 2024(3)Xinmi Project Preparation and Expansion40.0%75.068.2068.2On or before 31 Dec
160、ember 2024(3)The Groups working capital and other general corporate purposes10.0%18.817.1017.1On or before 31 December 2024(3)Total100.0%187.5170.65.7164.9 Notes:(1)The expected timeline for utilising the unutilised net proceeds is based on the best estimation of the market conditions made by our Gr
161、oup.(2)Net proceeds from the Global Offering were received in Hong Kong dollars and translated to Renminbi for application planning.(3)The unutilised net proceeds will be used for their respective disclosed purposes and following the expected implementation timetable(as disclosed in the Prospectus).
162、Our Company will deposit the unutilised net proceeds into short-term interest-bearing accounts at licensed commercial banks and/or other authorised financial institution(as defined under the Securities and Futures Ordinance(Chapter 571 of the Laws of Hong Kong)or the Commercial Banking Law of the PR
163、C(中華人民共和國商業銀行法)and other relevant laws in the PRC).MATERIAL LITIGATIONAs at 30 June 2023,our Company was not involved in any litigation,arbitration,administrative proceedings of material importance which could have a material adverse effect on its financial condition or results of operations,and,so
164、far as our Company is aware,no litigation,arbitration,administrative proceedings of material importance is pending or threatened against our Company.21Interim Condensed Consolidated Statement of Comprehensive IncomeInterim Report 2023 Wise Living Technology Co.,LtdFor the Six Months Ended 30 June 20
165、23Six months ended 30 JuneNote20232022RMB000RMB000(Unaudited)(Audited)Revenue7710,818638,155Cost of sales8(516,214)(500,060)Gross profit194,604138,095Administrative expenses8(70,063)(58,987)Reversal/(provision)of impairment losses on financial assets and contract assets21,140(4,042)Other income917,1
166、3132,934Other losses net10(1,690)(626)Operating profit161,122107,374Finance income119,68612,652Finance costs11(25,310)(51,202)Finance costs net11(15,624)(38,550)Share of profit of associates accounted for using the equity method152,935337 Profit before income tax148,43369,161Income tax expenses12(35
167、,096)(19,268)Profit and total comprehensive income for the period113,33749,893 Profit and total comprehensive income attributable to:Owners of the Company79,27233,166 Non-controlling interests34,06516,727 113,33749,893 Earnings per share for profit attributable to owners of the Company(expressed in
168、RMB per share)Basic and diluted130.350.15 The above interim condensed consolidated statement of comprehensive income should be read in conjunction with the accompanying notes.The accompanying notes on pages 26 to 45 form an integral part of this interim financial information.22Interim Condensed Cons
169、olidated Statement of Financial PositionWise Living Technology Co.,Ltd Interim Report 2023As at 30 June 2023Note30 June 202331 December2022RMB000RMB000(Unaudited)(Audited)ASSETSNon-current assetsProperty,plant and equipment16177,931155,929Investment properties17288,950267,200Right-of-use assets26,77
170、228,381Intangible assets183,272,1443,340,965Investments accounted for using the equity method1597,87694,966Trade receivables1980,27888,158Prepayments and other receivables47,71241,865Contract assets14,610Deferred income tax assets59,87253,674 4,051,5354,085,748 Current assetsInventories29,83848,926T
171、rade receivables19513,787477,986Prepayments and other receivables151,586153,127Restricted cash2085,829100,374Cash and cash equivalents20206,145378,068 987,1851,158,481 Total assets5,038,7205,244,229 EQUITYEquity attributable to owners of the CompanyShare capital21226,000226,000Other reserves200,0892
172、00,114Retained earnings380,275301,003 806,364727,117 Non-controlling interests199,510195,445 Total equity1,005,874922,562 23Interim Condensed Consolidated Statement of Financial PositionInterim Report 2023 Wise Living Technology Co.,LtdAs at 30 June 2023Note30 June 202331 December2022RMB000RMB000(Un
173、audited)(Audited)LIABILITIESNon-current liabilitiesBorrowings22615,893634,464Other payables236,8667,386Contract liabilities7(b)1,830,3981,821,454Lease liabilities17,61118,677Deferred income75,91283,459Deferred income tax liabilities23,28720,331Provision2428,43025,593 2,598,3972,611,364 Current liabi
174、litiesBorrowings22266,993246,750Trade and other payables23973,411976,277Contract liabilities7(b)145,173440,546Lease liabilities1,7471,005Current income tax liabilities47,12545,725 1,434,4491,710,303 Total liabilities4,032,8464,321,667 Total equity and liabilities5,038,7205,244,229 The above interim
175、condensed consolidated statement of financial position should be read in conjunction with the accompanying notes.The accompanying notes on pages 26 to 45 form an integral part of this interim financial information.The financial statements on pages 21 to 45 were approved and authorized for issue by t
176、he Board of Directors and were signed on its behalf.Geng MingLuo WeiDirectorDirector24Interim Condensed Consolidated Statement of Changes in EquityWise Living Technology Co.,Ltd Interim Report 2023For the Six Months Ended 30 June 2023Attributable to owners of the CompanyShare capitalOther reservesRe
177、tained earningsTotalNon-controlling interestsTotal equityRMB000RMB000RMB000RMB000RMB000RMB000Balance at 1 January 2022226,000186,008218,791630,799151,597782,396Comprehensive IncomeProfit for the period33,16633,16616,72749,893 Total comprehensive income for the period ended 30 June 202233,16633,16616
178、,72749,893 Transactions with owners in their capacity as owners:Deregistration of subsidiaries(13)(13)(13)Others15(2)(2)(1)(3)Total transactions with owners(15)(15)(1)(16)Balance at 30 June 2022(Audited)226,000185,993251,957663,950168,323832,273 Attributable to owners of the CompanyShare capitalOthe
179、r reservesRetained earningsTotalNon-controlling interestsTotal equityRMB000RMB000RMB000RMB000RMB000RMB000Balance at 1 January 2023226,000200,114301,003727,117195,445922,562Comprehensive IncomeProfit for the period79,27279,27234,065113,337 Total comprehensive income for the period ended 30 June 20237
180、9,27279,27234,065113,337 Transactions with owners in their capacity as owners:Dividends(30,000)(30,000)Others15(25)(25)(25)Total transactions with owners(25)(25)(30,000)(30,025)Balance at 30 June 2023(Unaudited)226,000200,089380,275806,364199,5101,005,874 The above interim condensed consolidated sta
181、tement of changes in equity should be read in conjunction with the accompanying notes.25Interim Condensed Consolidated Statement of Cash FlowsInterim Report 2023 Wise Living Technology Co.,LtdFor the Six Months Ended 30 June 2023Six months ended 30 JuneNote20232022RMB000RMB000(Unaudited)(Audited)Cas
182、h flows from operating activitiesCash generated from operations67,146135,219Income tax paid(40,280)(40,213)Net cash generated from operating activities26,86695,006 Cash flows from investing activitiesPurchases of property,plant and equipment(16,259)(1,630)Disposal of property,plant and equipment2462
183、0Proceeds from finance lease of plant and equipment to a related party4,197Purchases of intangible assets(141,166)(257,694)Disposal of intangible assets15,552Increase in restricted cash for deposit of capital expenditure38,826Dividends received from associates153,200Proceeds from financing arrangeme
184、nts with a third party(including repayments of principal and interest)22,25513,704Purchase of financial assets at fair value through profit or loss5.3(10,000)Disposal of financial assets at fair value through profit or loss5.327,284Loans repaid by a related party40,000Interest received from a relate
185、d party498Government grants received in relation to purchase of intangible assets9,000Interest received on bank deposits1,951962 Net cash used in investing activities(128,998)(119,678)Cash flows from financing activitiesPayments for listing expenses(8,477)(11,409)Proceeds from borrowings219,946835,0
186、00Repayment of borrowings(218,274)(660,091)Increase in restricted cash(60,000)Payments for lease liabilities(505)(634)Installment payment for acquisition of intangible assets(28,521)(9,122)Dividends paid to non-controlling shareholder(10,000)Interest paid on lease liabilities(630)(712)Interest paid
187、on installment payable for acquisition of intangible assets(758)(1,802)Interest paid on borrowings(22,572)(32,794)Net cash(used in)/generated from financing activities(69,791)58,436 Net(decrease)/increase in cash and cash equivalents(171,923)33,764Cash and cash equivalents at the beginning of the pe
188、riod378,068136,185 Cash and cash equivalents at end of the period20206,145169,949 The above interim condensed consolidated statement of cash flows should be read in conjunction with the accompanying notes.26Notes to the Interim Condensed Consolidated Financial StatementsWise Living Technology Co.,Lt
189、d Interim Report 20231 GENERAL INFORMATIONWise Living Technology Co.,Ltd(the“Company”)was established in the Peoples Republic of China(the“PRC”)on 3 September 2010.The address of its registered office is Room 202,2/F,No.15 of Shuangliang Road,Ligang Street,Jiangyin City,Jiangsu Province,the PRC.The
190、Company is an investment holding company.The Company and its subsidiaries(together,the“Group”)are principally engaged in the heat supply(including provision and distribution of heat and pipeline connection services),engineering construction services,design services and energy management services in
191、the PRC.The Companys H shares have been listed on the Main Board of The Stock Exchange of Hong Kong Limited(“the Stock Exchange”)on 10 July 2023.The Company is controlled by Jiangsu Shuangliang Technology Company Limited(江蘇雙良科技有限公司)(“Shuangliang Technology”)and Jiangsu Lichuang New Energy Company Li
192、mited(江蘇利創新能源有限公司)(“Jiangsu Lichuang”),both of which are held by Mr.Miao Shuangda(繆雙大),Mr.Miao Wenbin(繆文彬),Mr.Jiang Rongfang(江榮方),Mr.Ma Peilin(馬培林),Mr.Ma Fulin(馬福林),Mr.Miao Zhiqiang(繆志強),Mr.Miao Heida(繆黑大)and Ms.Miao Shuya(繆舒涯),the individual shareholders of the holding companies.This interim financ
193、ial information for the six months ended 30 June 2023(“Interim Financial Information”)is presented in Renminbi(“RMB”)and all values are rounded to the nearest thousand(RMB000),unless otherwise stated,and was approved by the Board of directors of the Company(the“Board”)for issue on 25 August 2023.Thi
194、s Interim Financial Information has not been audited.2 BASIS OF PRESENTATIONThis Interim Financial Information has been prepared in accordance with International Accounting Standard 34“Interim Financial Reporting”.The Interim Financial Information does not include all the notes normally included in
195、an annual financial report.Accordingly,it should be read in conjunction with the accountants report included in Appendix I to the Companys listing prospectus dated 28 June 2023(the“Prospectus”),which have been prepared in accordance with the International Financial Reporting Standards(“IFRSs”).As at
196、 30 June 2023,the Group had net current liabilities of RMB447,264,000.The net current liabilities included contract liabilities amounted to RMB145,173,000 which represented the advance receipts from customers in relation to heat supply and pipeline connection fees.Such contract liabilities will norm
197、ally be recognised as revenue in subsequent reporting periods and will not involve cash outflow in the future.Meanwhile,the Groups total borrowings as at 30 June 2023 amounted to RMB882,886,000 of which RMB266,993,000 are classified as current liabilities,while its cash and cash equivalents amounted
198、 to RMB206,145,000 as at the same date.27Notes to the Interim Condensed Consolidated Financial StatementsInterim Report 2023 Wise Living Technology Co.,Ltd2 BASIS OF PRESENTATION(Continued)Management closely monitors the Groups financial performance and liquidity position.The cash inflow generated f
199、rom the Groups operating activities amounted to RMB26,866,000 for the six months ended 30 June 2023.The Group is also able to plan its capital expenditures activities in a conservative manner to avoid an excessively high liquidity risk exposure.In addition,management proactively managed the financin
200、g structure of the Group and was able to renew the short-term borrowings and raise new borrowings during the relevant reporting periods as necessary.As at 30 June 2023,the Group had unused banking facilities amounting to RMB1,039.0 million.Among these facilities,RMB834.0 million is available to the
201、Group within 12 months and RMB205.0 million is available to the Group over 12 months from 30 June 2023.Furthermore,the Company received net proceeds of approximately HK$187.5 million(equivalent to RMB170.6 million)in connection with its listing on the Stock Exchange in July 2023.The directors of the
202、 Company(the“Directors”)have reviewed the Groups cash flow projections for a period of not less than twelve months from 30 June 2023,made due enquiries with management and considered the bases and assumptions applied in preparation of the projections.The Directors are of the opinion that,taking into
203、 account the Groups projected financial performance and operating cash inflows,the capital expenditures plans,the continuous availability of existing banking facilities,and the financing from new shares issuance,the Group will have sufficient financial resources to support its operations and to meet
204、 its financial obligations as and when they fall due in at least the coming twelve months from 30 June 2023.Accordingly,the Interim Financial Information has been prepared on a going concern basis.3 SIGNIFICANT ACCOUNTING POLICIESThe accounting policies applied are consistent with those as described
205、 in the accountants report included in Appendix I to the Prospectus,except for the estimation of income tax(see Note 12)and the adoption of new and amended standards as set out below.(a)New and amended standard adopted by the GroupThe following new and amended standards and interpretations are manda
206、tory for the first time for the financial year beginning or after 1 January 2023:IFRS 17Insurance contractsIAS 1 and IFRS Practice Statement 2(Amendments)Disclosure of accounting policiesIAS 8(Amendments)Definition of accounting estimatesIAS 12(Amendments)Deferred tax related to assets and liabiliti
207、es arising from a single transactionThe adoption of these new and amended standards and interpretations did not result in any significant impact on the results and financial position of the Group.28Notes to the Interim Condensed Consolidated Financial StatementsWise Living Technology Co.,Ltd Interim
208、 Report 20233 SIGNIFICANT ACCOUNTING POLICIES(Continued)(b)New standards,amendments and interpretations to existing standards have been issued but not yet effective and have not been early adopted by the Group.Effective for accounting periods beginning on or afterIFRS 16(Amendments)Leases liability
209、in a sale and leaseback1 January 2024IAS 1(Amendments)Classification of liabilities as current or non-current1 January 2024IAS 1(Amendments)Non-current liabilities with covenants1 January 2024Amendments to IAS 7 and IFRS 7Supplier finance arrangements1 January 2024IFRS 10 and IAS 28(Amendments)Sale
210、or contribution of assets between an investor and its associate or joint ventureTo be determinedThe Group will adopt the above new or revised standards and amendments to existing standards as and when they become effective.Management has performed preliminary assessment and does not anticipate any s
211、ignificant impact on the Groups financial position and results of operations upon adopting these standards and amendments to the existing IFRSs.4 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTSThe preparation of the Interim Financial Information requires management to make judgments,estimates and assum
212、ptions that affect the application of accounting policies and the reported amounts of assets and liabilities,income and expenses.Actual results may differ from these estimates.In preparing this Interim Financial Information,the significant judgments made by management in applying the Groups accounti
213、ng policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements in the accountants report included in Appendix I to the Prospectus.5 FINANCIAL RISK MANAGEMENT5.1 Financial risk factorsThe Interim Financial Information does not in
214、clude all financial risk management information and disclosures required in the annual financial statements,and should be read in conjunction with the accountants report included in Appendix I to the Prospectus.29Notes to the Interim Condensed Consolidated Financial StatementsInterim Report 2023 Wis
215、e Living Technology Co.,Ltd5 FINANCIAL RISK MANAGEMENT(Continued)5.1 Financial risk factors(Continued)There have been no significant changes in the risk factors and management policies since the year ended 31 December 2022.5.2 Liquidity riskPrudent liquidity risk management implies maintaining suffi
216、cient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due.Management monitors rolling forecasts of the Groups liquidity reserve and cash and cash equivalents on the basis of expected cash flows.The Grou
217、p expects to fund the future cash flow needs through internally generated cash flows from operations and available banking facilities.The table below analyses the Groups financial liabilities into relevant maturity grouping based on the remaining period at the reporting date to the earliest date the
218、 lenders can demand for repayment.The amounts disclosed in the table are the contractual undiscounted cash flows.Repayable on demand or less than 1 yearBetween 1 and 2 yearsBetween 2 and 5 yearsOver 5 yearsTotalRMB000RMB000RMB000RMB000RMB000As at 30 June 2023(Unaudited)Lease liabilities2,8843,3689,7
219、248,33024,306Borrowings305,815157,651385,967162,3471,011,780Trade and other payables(excluding non-financial liabilities)923,6851,4754,4252,212931,797 Total1,232,384 162,494400,116172,8891,967,883 30Notes to the Interim Condensed Consolidated Financial StatementsWise Living Technology Co.,Ltd Interi
220、m Report 20235 FINANCIAL RISK MANAGEMENT(Continued)5.2 Liquidity risk(Continued)Repayable on demand or less than 1 yearBetween 1 and 2 yearsBetween 2 and 5 yearsOver 5 yearsTotalRMB000RMB000RMB000RMB000RMB000As at 31 December 2022(Audited)Lease liabilities2,2123,3589,7779,89525,242Borrowings283,8298
221、2,573468,003193,1821,027,587Trade and other payables(excluding non-financial liabilities)912,5621,4754,4252,950921,412 Total1,198,60387,406482,205206,0271,974,241 5.3 Fair value estimationThe following table presents the changes in fair value of financial assets at fair value through profit or loss
222、in relation to wealth management products,which were classified as level 3 instruments,for the six months ended 30 June 2022:Six months ended 30 June20232022RMB000RMB000(Unaudited)(Audited)Opening balance17,139Additions10,000Gains recognised in profit or loss145Disposals(27,284)Closing balance Net u
223、nrealised gains/losses for the period 6 SEASONAL OR CYCLICAL OPERATIONSThe heat service period of the Company usually begins from October of each year to April of the following year.Revenues and operating profits are more evenly spread in the first and fourth quarters of the financial year.For the y
224、ear ended 31 December 2022,52%of provision and distribution of heat revenues accumulated in the first half of the year,with the remaining 48%accumulated in the second half of the year.31Notes to the Interim Condensed Consolidated Financial StatementsInterim Report 2023 Wise Living Technology Co.,Ltd
225、7 REVENUE AND SEGMENT INFORMATION(a)Revenue from contract with customersSix months ended 30 June20232022RMB000RMB000(Unaudited)(Audited)Revenue from contract with customers:Provision and distribution of heat597,222530,699 Consideration from customers503,931454,868 Price subsidies from local governme
226、nt93,29175,831 Engineering construction services43,15241,908 Pipeline connection fees48,25040,307 Heat transmission services2,2593,644 Sale of goods10,92415,662 Energy management services1,4882,010 Designing services2,5682,905 Others4,9551,020 710,818638,155 Timing of revenue recognition:At a point
227、in time18,10923,231 Over time692,709614,924 710,818638,155 Management has determined the operating segment based on the reports reviewed by the chief operating decision-maker(the“CODM”),which has been identified as the executive directors of the Company.The Group is principally engaged in the heat s
228、upply and related services in the PRC.The CODM reviews the operating results of the business as one operating segment to make decisions about resources to be allocated.Therefore,the CODM regards that there is only one segment and review the consolidated financial information accordingly.The major op
229、erating entities of the Group are domiciled in the PRC.All of the Groups revenue are derived in the PRC.All of the non-current assets were located in the PRC or arisen from transactions as conducted in the PRC for the six months ended 30 June 2023 and 2022.(b)Contract liabilitiesThe Group receives p
230、ayments from customers based on billing schedule as established in contracts.Payments are usually received in advance of the performance under the contracts which are mainly from provision and distribution of heat and pipeline connection fees.32Notes to the Interim Condensed Consolidated Financial S
231、tatementsWise Living Technology Co.,Ltd Interim Report 20238 EXPENSES BY NATUREExpenses included in cost of sales and administrative expenses are analysed below:Six months ended 30 June20232022RMB000RMB000(Unaudited)(Audited)Costs for purchases of heat214,111218,424Amortisation of intangible assets(
232、Note 18)105,72694,739Materials consumed70,39161,865Utility costs53,01348,715Employee benefit expenses44,81841,406Construction costs38,61236,347Depreciation of property,plant and equipment(Note 16)8,5907,358Entertainment expenses5,7624,039Cost of goods sold5,35610,975Maintenance expenses4,3865,183Tra
233、velling expenses3,4612,299Other taxes and surcharges3,4232,863Listing expenses3,008Depreciation of right-of-use assets1,7902,303Auditors remuneration1,732352Short-term lease expenses8701,420Consulting and professional service fees6062,039Others20,62218,720 Total586,277559,047 9 OTHER INCOMESix month
234、s ended 30 June20232022RMB000RMB000(Unaudited)(Audited)Government grants(Note(a)10,61524,616Rental income6,5168,318 17,13132,934 (a)The government grants received are mainly relating to the Groups heat service operations,for the purpose of subsidising the Groups purchases or constructions of heat se
235、rvice facilities or subsidising for the Groups losses on certain heat service projects.These government grants are non-recurring in nature and are determined by the local government on an incidental basis.There are no unfulfilled conditions or other contingencies attaching to these government grants
236、.33Notes to the Interim Condensed Consolidated Financial StatementsInterim Report 2023 Wise Living Technology Co.,Ltd10 OTHER LOSSES NETSix months ended 30 June20232022RMB000RMB000(Unaudited)(Audited)Fair value losses of investment properties(Note 17)(2,450)(2,000)Gains on deregistration of subsidia
237、ries39Gains on investments in wealth management products,net145(Losses)/gains on disposal of property,plant and equipment,net(3)85Gains on disposal of intangible assets1,086Others76319 (1,690)(626)11 FINANCE INCOME AND COSTSSix months ended 30 June20232022RMB000RMB000(Unaudited)(Audited)Finance inco
238、me:Interest income derived from bank deposits1,951962Interest income from financing arrangements2,3154,715Interest income from finance lease to a related party615684Interest income from lease receivables4,8055,867Interest income from loans to a related party424 9,68612,652 Finance costs:Interest exp
239、enses on borrowings(22,734)(32,810)Interest expenses on lease liabilities(630)(712)Interest expenses on installment payable for acquisition of intangible assets(758)(1,802)Interest expenses on loans from government(462)(668)Unwinding of provision(726)(566)Loss from modification of lease receivables(
240、14,644)(25,310)(51,202)Finance costs net(15,624)(38,550)34Notes to the Interim Condensed Consolidated Financial StatementsWise Living Technology Co.,Ltd Interim Report 202312 INCOME TAX EXPENSESSix months ended 30 June20232022RMB000RMB000(Unaudited)(Audited)Current income tax PRC corporate income ta
241、x38,33933,418Deferred income tax(3,243)(14,150)35,09619,268 Income tax expense is recognised based on managements estimate of the weighted average effective annual income tax rate expected for the full financial year.The estimated average annual tax rate used for the year to 30 June 2023 is 24%,comp
242、ared to 28%for the six months ended 30 June 2022.The tax rate was lower in 2023 due to the use of previously unrecognised carried forward tax losses.13 EARNINGS PER SHARE(a)BasicSix months ended 30 June20232022(Unaudited)(Audited)Profit attributable to the owners of the Company(RMB000)79,27233,166We
243、ighted average number of ordinary shares in issue(thousands)226,000226,000 Basic earnings per share(RMB per share)0.350.15 (b)DilutedDiluted earnings per share is the same as basic earnings per share as there were no potential dilutive ordinary shares outstanding as at 30 June 2023 and 2022.14 DIVID
244、ENDSNo interim dividend was declared and paid by the Company for the six months ended 30 June 2023(six months ended 30 June 2022:nil).35Notes to the Interim Condensed Consolidated Financial StatementsInterim Report 2023 Wise Living Technology Co.,Ltd15 INVESTMENTS ACCOUNTED FOR USING THE EQUITY METH
245、ODThe carrying amount of equity-accounted investments has changed as follows in the six months to June 2023:Six months ended 30 June20232022RMB000RMB000(Unaudited)(Audited)Opening balance94,96684,824Dividends(3,200)Share of net profit2,935337Share of other comprehensive loss(25)(3)Closing balance97,
246、87681,958 16 PROPERTY,PLANT AND EQUIPMENTBuildingsMachinery and equipmentTransportation equipmentOffice and electronic equipmentLeasehold improvementsConstruction in progressTotalRMB000RMB000RMB000RMB000RMB000RMB000RMB000At 31 December 2022Cost112,95479,53126,83017,4322,140238,887Accumulated depreci
247、ation(25,026)(21,070)(21,281)(14,310)(1,271)(82,958)Net book amount87,92858,4615,5493,122869155,929 Six months ended 30 June 2023(Unaudited)Opening net book amount at 1 January 202387,92858,4615,5493,122869155,929Additions16,8608,5391,4723185422,88830,619Disposals(1)(26)(27)Depreciation(2,608)(3,258
248、)(1,178)(1,162)(384)(8,590)Closing net book amount at 30 June 2023102,18063,7425,8432,2771,0012,888177,931 At 30 June 2023Cost129,81488,07028,30217,7382,6562,888269,468Accumulated depreciation(27,634)(24,328)(22,459)(15,461)(1,655)(91,537)Net book amount102,18063,7425,8432,2771,0012,888177,931 As at
249、 30 June 2023 and 31 December 2022,the carrying amount of the buildings of which the property ownership certificates had not been obtained or property ownership transfer procedures had not been completed were RMB28,108,000 and RMB24,802,000,respectively.The Directors are of the view that the Group i
250、s entitled to the lawful and valid occupancy and uses of these buildings and the related ownership certificates will be obtained in due course.The Directors are also of the opinion that the uses of these buildings without the ownership certificates for the Groups business operations for the time bei
251、ng will not expose the Group to any significant penalties or unfavorable consequences.36Notes to the Interim Condensed Consolidated Financial StatementsWise Living Technology Co.,Ltd Interim Report 202317 INVESTMENT PROPERTIESSix months ended 30 June20232022RMB000RMB000(Unaudited)(Audited)Opening ba
252、lance267,200272,500Addition24,200Net losses from fair value adjustment(2,450)(2,000)Closing balance288,950270,500 Amounts recognised in profit or loss for investment propertiesSix months ended 30 June20232022RMB000RMB000(Unaudited)(Audited)Rental income from operating leases6,5168,318Fair value loss
253、es(2,450)(2,000)37Notes to the Interim Condensed Consolidated Financial StatementsInterim Report 2023 Wise Living Technology Co.,Ltd18 INTANGIBLE ASSETSGoodwillOperating concessionsSoftwareTotalRMB000RMB000RMB000RMB000At 31 December 2022Cost9,0474,758,77220,7774,788,596Accumulated amortisation(1,319
254、,420)(7,700)(1,327,120)Accumulated impairment(120,511)(120,511)Net book amount9,0473,318,84113,0773,340,965 Six months ended 30 June 2023(Unaudited)Opening net book amount9,0473,318,84113,0773,340,965Additions36,90536,905Amortisation(105,148)(578)(105,726)Closing net book amount9,0473,250,59812,4993
255、,272,144 At 30 June 2023Cost9,0474,795,67720,7774,825,501Accumulated amortisation(1,424,568)(8,278)(1,432,846)Accumulated impairment(120,511)(120,511)Net book amount9,0473,250,59812,4993,272,144 (a)Impairment tests for goodwill related to Taiyuan City Renewable Energy Heat Supply Company Limited(“Ta
256、iyuan Renewable Energy”),a subsidiary of the CompanyDuring the six months ended 30 June 2023,there were no indicators for impairment of the goodwill resulting from a business combination of Taiyuan Renewable Energy,whose principal activity is to provide head supply and related services to an area in
257、 Taiyuan City under a concession arrangement with Taiyuan local government.Taiyuan Renewable Energys business is considered as a separate cash generating unit(“CGU”).During the period,no significant change in the key assumptions used on impairment calculation as at 31 December 2022 was considered ne
258、cessary having considered both internal and external factors.Accordingly,management concluded that no impairment provision was required to be made as at 30 June 2023.For details of the key assumptions used,see note 17(b)of the accountants report included in Appendix I of the Prospectus.(b)Impairment
259、 tests for intangible assets related to Shuozhou City Renewable Energy Thermal Company Limited(“Shuozhou Renewable Energy”),a subsidiary of the CompanyDuring the six months ended 30 June 2023,there were no indicators for impairment of intangible assets of Shuozhou Renewable Energy whose principal ac
260、tivity is to provide heat supply and related services to an area in Shuozhou City under a concession arrangement with Shuozhou local government.Shuozhou Renewable Energys business is considered as a separate CGU.During the period,no significant change in the key assumptions used on impairment calcul
261、ation as at 31 December 2022 was considered necessary having considered both internal and external factors.Accordingly,management concluded that no impairment provision was required to be made as at 30 June 2023.For details of the key assumptions used,see note 17(c)of the accountants report included
262、 in Appendix I of the Prospectus.38Notes to the Interim Condensed Consolidated Financial StatementsWise Living Technology Co.,Ltd Interim Report 202318 INTANGIBLE ASSETS(Continued)(c)Amortisation charge was expensed in the interim condensed consolidated statement of comprehensive income as follows:S
263、ix months ended 30 June20232022RMB000RMB000(Unaudited)(Audited)Cost of sales105,41394,401Administrative expenses313338 105,72694,739 (d)As at 30 June 2023 and 31 December 2022,intangible assets with carrying amount of approximately RMB751,481,000 and RMB771,097,000,respectively,were pledged as colla
264、teral for the bank borrowings of the Group(Note 22(a).19 TRADE RECEIVABLESAs at 30 June 2023As at 31 December 2022RMB000RMB000(Unaudited)(Audited)Included in current assetsTrade receivables(Note(a)Related parties(Note 26(c)3,63710,090 Third parties532,422515,490 536,059525,580 Notes receivables9,246
265、50Lease receivables16,42421,346Less:allowance for impairment of trade receivables and lease receivables(47,942)(68,990)513,787477,986 Included in non-current assetsLease receivables101,869109,749Less:allowance for impairment of lease receivables(21,591)(21,591)80,27888,158 594,065566,144 39Notes to
266、the Interim Condensed Consolidated Financial StatementsInterim Report 2023 Wise Living Technology Co.,Ltd19 TRADE RECEIVABLES(Continued)(a)The Group normally provides no credit period to its customers.The following is an aging analysis of trade receivables(excluding notes receivables and lease recei
267、vables)from the date of sales:As at 30 June 2023As at 31 December 2022RMB000RMB000(Unaudited)(Audited)Within 1 year462,449434,0001 to 2 years42,82652,1582 to 3 years14,57124,704Over 3 years16,21314,718 536,059525,580 (b)The Groups trade receivables were denominated in RMB.(c)The Group applies the si
268、mplified approach to provide for expected credit losses prescribed by IFRS 9 to assess the impairment of trade receivables and lease receivables.(d)As at 30 June 2023 and 31 December 2022,trade receivables with carrying amount of approximately RMB112,552,000 and RMB121,028,000,respectively,were pled
269、ged as collaterals for the bank borrowings of the Group.20 CASH AND CASH EQUIVALENTSAs at 30 June 2023As at 31 December 2022RMB000RMB000(Unaudited)(Audited)Cash at banks291,957478,421Cash on hand1721 291,974478,442Less:restricted cash(Note(a)(85,829)(100,374)Cash and cash equivalents206,145378,068 (
270、a)The Groups restricted cash were deposits placed with the banks for the issuance of bank acceptance notes and as guarantee deposits of bank borrowings.As at 30 June 2023 and 31 December 2022,restricted cash for the issuance of banks acceptance notes amounted to approximately RMB74,729,000 and RMB89
271、,274,000,respectively.As at 30 June 2023 and 31 December 2022,restricted cash as guarantee deposits of bank borrowings amounted to RMB11,100,000 and RMB11,100,000,respectively.(b)The Groups cash and cash equivalents and restricted cash were denominated in RMB.40Notes to the Interim Condensed Consoli
272、dated Financial StatementsWise Living Technology Co.,Ltd Interim Report 202321 SHARE CAPITALThe CompanyNumber of ordinary sharesTotalRMB000As at 30 June 2023 and 31 December 2022226,000,000226,000 (a)Global offeringOn 10 July 2023,the Company issued 75,600,000 ordinary shares at a HK$3.60 per share
273、with the total gross amount of HK$272.2 million(equivalent to approximately RMB247.7 million)raised as a result of the completion of the global offering.Number of total issued shares of the Company was increased to 301,600,000 shares upon completion of the global offering.22 BORROWINGSAs at 30 June
274、2023As at 31 December 2022RMB000RMB000(Unaudited)(Audited)Included in non-current liabilities:Bank borrowings secured and guaranteed(Note(a)400,211408,139 unsecured59,00059,500 unsecured and guaranteed(Note(b)203,175203,075 662,386670,714Less:current portion of non-current liabilities(46,493)(36,250
275、)615,893634,464 Included in current liabilities:Bank borrowings secured and guaranteed(Note(a)30,000100,000 unsecured and guaranteed(Note(b)180,000100,000 secured and unguaranteed(Note(c)10,50010,500Current portion of non-current liabilities46,49336,250 266,993246,750 Total882,886881,214 41Notes to
276、the Interim Condensed Consolidated Financial StatementsInterim Report 2023 Wise Living Technology Co.,Ltd22 BORROWINGS(Continued)(a)As at 30 June 2023,the bank borrowings of Hulunbuir Shuangliang Energy System Company Limited(“Hulunbuir Shuangliang”)(a subsidiary of the Company)amounting to RMB158,0
277、00,000(31 December 2022:RMB158,000,000)were guaranteed by the Company and secured by certain trade receivables(Note 19(d).Secondly,the bank borrowings of Lanzhou New Area Shuangliang Thermal Power Company Limited(“Lanzhou Shuangliang”)(a subsidiary of the Company)amounting to RMB104,250,000(31 Decem
278、ber 2022:RMB174,625,000)was guaranteed by the Company and Gansu Shuangliang Energy System Investment Company Limited(“Gansu Shuangliang”)(a subsidiary of the Company)and secured by certain intangible assets(Note 18(d).Thirdly,the bank borrowings of Shuozhou Renewable Energy amounting to RMB162,500,0
279、00(31 December 2022:RMB175,000,000)was guaranteed by Taiyuan Renewable Energy,the Company,Shuangliang Group Company Limited(“Shuangliang Group Co.”)(an entity controlled by the significant shareholder)and Mr.Miao Wenbin and secured by price subsidy receivables and certain intangible assets(Note 18(d
280、).Furthermore,the bank borrowings of Wise Living Tech-Thermal Power(Zhengzhou)Limited(a subsidiary of the Company)amounting to RMB5,461,000(31 December 2022:RMB514,000)were guaranteed by the Company and secured by certain trade receivables(Note 19(d).(b)As at 30 June 2023,bank borrowings amounting t
281、o RMB203,175,000,RMB150,000,000 and RMB30,000,000(31 December 2022:RMB203,075,000,RMB100,000,000 and nil)were guaranteed by Shuangliang Group Co.,Gansu Shuangliang and the Company,respectively.(c)As at 30 June 2023,the bank borrowings of the Company amounting to RMB10,500,000(31 December 2022:RMB10,
282、500,000)were secured by restricted cash of Zhengzhou Wise Living Thermal Power Company Limited(a subsidiary of the Company)of RMB11,100,000(Note 20(a).(d)The weighted average effective interest rate of borrowings was 4.82%per annum as at 30 June 2023(31 December 2022:5.09%per annum).(e)The Groups bo
283、rrowings were all denominated in RMB.23 TRADE AND OTHER PAYABLESAs at 30 June 2023As at 31 December 2022RMB000RMB000(Unaudited)(Audited)Included in current liabilitiesTrade payables Third parties(Note(a)468,627333,259Notes payables73,856109,738Amounts due to and advance from related parties(Note 26(
284、c)23,25231,566Payables for acquisition of intangible assets229,053299,269Payables for acquisition of property,plant and equipment4,3924,217Employee benefits payables12,91525,218Other taxes payables28,18637,080Interest payables1,2691,107Employee reimbursement payables9,1332,465Dividends payables to n
285、on-controlling interests60,77840,778Loans from government22,96022,498Refundable pipeline connection fee2,9412,941Installment payable for acquisition of intangible assets12,55040,551Others23,49925,590 973,411976,277 Included in non-current liabilitiesOther payables A third party(installment payable f
286、or acquisition of intangible assets)6,8667,386 980,277983,663 42Notes to the Interim Condensed Consolidated Financial StatementsWise Living Technology Co.,Ltd Interim Report 202323 TRADE AND OTHER PAYABLES(Continued)(a)The following is an aging analysis of trade payables presented based on the goods
287、/services receipt dates:As at 30 June 2023As at 31 December 2022RMB000RMB000(Unaudited)(Audited)Within 1 year342,160224,4701 to 2 years38,05334,0742 to 3 years28,35022,761Over 3 years60,06451,954 468,627333,259 The Groups trade and other payables were denominated in RMB.24 PROVISIONAs at 30 June 202
288、3As at 31 December 2022RMB000RMB000(Unaudited)(Audited)Provision for maintenance of service concession facilities28,43025,593 Pursuant to the service concession agreements entered into by the Group,the Group has the contractual obligations to maintain the facilities it operates to specified level of
289、 service quality and/or to restore the plants to specified conditions before the facilities are handed over to the grantors at the end of the service concession periods.These contractual obligations to maintain or restore the facilities,except for any upgrade elements,are recognised and measured at
290、the best estimate of the expenditures that would be required to settle the present obligations at each of the reporting dates.43Notes to the Interim Condensed Consolidated Financial StatementsInterim Report 2023 Wise Living Technology Co.,Ltd25 COMMITMENTS(a)Commitments relating to short-term leases
291、The future aggregate minimum lease payments under non-cancellable short-term leases contracted for but not recognised as liabilities are as follows:As at 30 June 2023As at 31 December 2022RMB000RMB000(Unaudited)(Audited)No later than 1 year355177 (b)Capital commitmentsThe Groups capital expenditures
292、 contracted for but not yet incurred is as follows:As at 30 June 2023As at 31 December 2022RMB000RMB000(Unaudited)(Audited)Intangible assets35,20557,963 44Notes to the Interim Condensed Consolidated Financial StatementsWise Living Technology Co.,Ltd Interim Report 202326 RELATED PARTY TRANSACTIONS(a
293、)Names and relationships with related partiesBelow is a summary of the related parties that had transactions or balances with the Group during the reporting period:Name of the related partyRelationship with the GroupMr.Miao ShuangdaSignificant shareholderShuangliang Group Co.Controlled by the signif
294、icant shareholderShuangliang TechnologyParent companySinopec New Star Shuangliang Geothermal Thermal Power Company Limited(“Sinopec New Star”)AssociateBeijing Zhongchuang Financial Leasing Company Limited(“Beijing Zhongchuang”)An associate of parent companyShuangliang Eco-Energy System Company Limit
295、ed(“Shuangliang Eco-Energy”)Controlled by the significant shareholderJiangyin International Grand Hotel Company Limited (“Jiangyin Hotel”)Controlled by the significant shareholderJiangsu Shuangliang Boiler Company Limited (“Shuangliang Boiler”)Under the common control of parent companyJiangsu Shuang
296、liang Spandex Company Limited (“Shuangliang Spandex”)Under the common control of parent companyJiangsu Shuangliang New Energy Equipment Company Limited(“Shuangliang New Energy Equipment”)Controlled by the significant shareholderZhejiang Shangda Public Environmental Protection Company Limited(“Zhejia
297、ng Shangda”)Controlled by the significant shareholderJiangsu Shuangliang Energy-Saving Eco Engineering Technique Company Limited(“Shuangliang Eco Engineering”)Controlled by the significant shareholderWuxi Hundun Energy Technology Co.,Ltd.(“Wuxi Hundun”)Controlled by the significant shareholder(b)Tra
298、nsactions with related partiesSix months ended 30 June20232022RMB000RMB000(Unaudited)(Audited)i)Entity controlled or significantly influenced by certain shareholdersPurchases of plant and equipment and services3,6355,277Leasing arrangements62Financing arrangements48,794ii)AssociateSales of goods or
299、services3,8872,725Purchases of plant and equipment and services331Leasing arrangements863960 45Notes to the Interim Condensed Consolidated Financial StatementsInterim Report 2023 Wise Living Technology Co.,Ltd26 RELATED PARTY TRANSACTIONS(Continued)(c)Balances with related partiesAs at 30 June 2023A
300、s at 31 December 2022RMB000RMB000(Unaudited)(Audited)i)Entity controlled or significantly influenced by certain shareholdersTrade receivables2,608Trade and other payables21,52128,281Prepayments and other receivables7,3403,819ii)AssociateTrade receivables3,6377,482Lease receivables30,35225,886Trade a
301、nd other payables1,0312,585Lease payables7,8908,380Amount advance from related parties700700 (d)GuaranteesAs at 30 June 2023As at 31 December 2022RMB000RMB000(Unaudited)(Audited)Guarantees provided by entity controlled or significantly influenced by certain shareholders365,676378,075 All the guarant
302、ees provided by related parties were released upon the listing of H shares in July 2023.27 CONTINGENCIESThe Group did not have any material contingent liabilities as at 30 June 2023 and 31 December 2022.28 SUBSEQUENT EVENTSSave as disclosed elsewhere in the Interim Financial Information,the Group di
303、d not have any significant subsequent events after 30 June 2023 and up to the date of issuance of this Interim Financial Information which may result in adjustment or additional disclosure herein.46DefinitionsWise Living Technology Co.,Ltd Interim Report 2023In this interim report,unless the context
304、 otherwise requires,the below expressions shall have the following meanings:“Audit Committee”The audit committee of the Board“Board”or“Board of Directors”The board of Directors of our Company“CG Code”The Corporate Governance Code as set out in Appendix 14 to the Listing Rules,as amended,supplemented
305、 or otherwise modified from time to time“China”or“PRC”The Peoples Republic of China,excluding for the purpose of this interim report,Hong Kong,Macau Special Administrative Region and Taiwan“Company”or“Our Company”Wise Living Technology Co.,Ltd(慧居科技股份有限公司)(Stock Code:2481),a joint stock limited liabi
306、lity company incorporated in the PRC on 3 September 2010“Concession Area”The planned floor area to which we are entitled to charge for our provision of heat services under concession rights derived from our concession agreements,which is measured in terms of gross floor area“Controlling Shareholder(
307、s)”Has the meaning ascribed thereto under the Listing Rules.Unless the context requires otherwise,each of Shuangliang Technology,Jiangsu Lichuang,Mr.Miao Shuangda(繆雙大先生),Mr.Miao Wenbin(繆文彬先生),Mr.Miao Zhiqiang(繆志強先生),Ms.Miao Shuya(繆舒涯女士),Mr.Miao Heida(繆黑大先生),Mr.Jiang Rongfang(江榮方先生),Mr.Ma Peilin(馬培林先
308、生)and Mr.Ma Fulin(馬福林先生)is a Controlling Shareholder.They are considered as a group of the Controlling Shareholders of our Company as the individual Shareholders above have decided to restrict their abilities to exercise direct control over our Company by holding their equity interests through Shuan
309、gliang Technology and Jiangsu Lichuang“Corresponding Period”the six-month period from 1 January 2022 to 30 June 2022“Director(s)”or“our Director(s)”The director(s)of our Company“Domestic Share(s)”Share(s)issued by our Company in the PRC,which are subscribed for in RMB“EMC”An energy-conservation serv
310、ice contract“Gansu Shuangliang”Gansu Shuangliang Energy System Investment Company Limited*(甘肅雙良能源系統投資有限公司),a company with limited liability established in the PRC on 27 February 2013,an indirect non wholly-owned subsidiary of our Company“Global Offering”The Hong Kong public offering and the internat
311、ional offering“Group”,“our Group”,“the Group”,“we”,“us”,or“our”Our Company and its subsidiaries“H Share(s)”Ordinary share(s)in the share capital of our Company with nominal value of RMB1.00 each,which is/are subscribed for and traded in HK dollars and listed on the Stock Exchange47DefinitionsInterim
312、 Report 2023 Wise Living Technology Co.,Ltd“heat service period”the period during which the heat service providers provide heat services,usually between October of each year and April of the following year which can be longer or shorter depending on the location of the Concession Area and the temper
313、ature changes resulting from seasonality of each year“Hong Kong”or“HK”The Hong Kong Special Administrative Region of the Peoples Republic of China“Hong Kong dollars”or“HK dollars”or“HK$”or“HKD”Hong Kong dollar,the lawful currency of Hong Kong“Jiangsu Lichuang”Jiangsu Lichuang New Energy Company Limi
314、ted*(江蘇利創新能源有限公司),a company with limited liability established in the PRC on 24 December 1997,one of the Controlling Shareholders of our Company“Lanzhou New Area Project”Lanzhou New Area Project(蘭州新區南部區域集中供熱項目)“Listing Date”Monday,10 July 2023,being the date on which the H Shares were listed on the
315、Stock Exchange and from which dealings in the H Shares are permitted to take place on the Stock Exchange“Listing Rules”The Rules Governing the Listing of Securities on the Stock Exchange,as amended,supplemented or otherwise modified from time to time“Main Board”The stock exchange(excluding the optio
316、n market)operated by the Stock Exchange which is independent from and operated in parallel to the GEM operated by the Stock Exchange“Model Code”The Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix 10 to the Listing Rules“Prospectus”The prospectus of our Co
317、mpany dated 28 June 2023“Reporting Period”or“Period”The six-month period from 1 January 2023 to 30 June 2023“RMB”or“Renminbi”Renminbi,the lawful currency of the PRC“SFO”The Securities and Futures Ordinance(Chapter 571 of the Laws of Hong Kong),as amended,supplemented or otherwise modified from time
318、to time“Share(s)”Ordinary share(s)in the capital of our Company with nominal value of RMB1.00,comprising the Domestic Share(s)and H Shares“Shareholder(s)”Holder(s)of the Shares“Shuangliang Group Co.”Shuangliang Group Company Limited*(雙良集團有限公司),a company with limited liability established in the PRC
319、on 25 December 1987,which is an associate of Mr.Miao Shuangda and hence a connected person of our Company48DefinitionsWise Living Technology Co.,Ltd Interim Report 2023“Shuangliang Technology”Jiangsu Shuangliang Technology Company Limited*(江蘇雙良科技有限公司),a company with limited liability established in
320、the PRC on 18 December 1997,one of the Controlling Shareholders of our Company“Shuozhou Project”Shuozhou Municipal Cogeneration Centralised Heat Services Project(朔州市熱電聯產集中供熱項目)“Stock Exchange”The Stock Exchange of Hong Kong Limited“Xinmi Project”Xinmi City Centralised Heat Services Project(新密市集中供熱項目)“%”PercentThe English names of the PRC established companies or entities and the PRC laws and regulations mentioned herein are translation from their Chinese names.If there is any inconsistency,the Chinese names shall prevail.*For identification purposes only
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