Liyuan Technology Group Limited (the “Company”) announced its annual results for the year ended December 31, 2023. Revenue increased from $16,429 thousand in 2022 to $21,504 thousand, gross profit increased from $13,855 thousand to $19,202 thousand, and profit for the year increased from $5,494 thousand to $7,185 thousand. Marketing and administrative expenses were $496 thousand and $5,024 thousand, respectively, and the expected credit loss on trade receivables increased to $1,454 thousand. Finance costs rose to $4,146K and income tax expense was $1,273K. As of December 31, 2023, trade receivables and trade and other payables were $197,602 thousand and $128,976 thousand, respectively, and bank loans totaled $61,022 thousand. The Company's shares were listed on the Main Board of the Hong Kong Stock Exchange Limited on 31 March 2023 and no final dividend was distributed after the listing. The Company will continue to invest in R&D capabilities, promote its cross-border online store SaaS solutions business, upgrade its business and internal management systems, strengthen its service capabilities to localize overseas markets, and seek strategic cooperation and investment opportunities.

Liyuan Technology Group Limited (the “Company”) announced its annual results for the year ended December 31, 2023. Revenue increased from $16,429 thousand in 2022 to $21,504 thousand, gross profit increased from $13,855 thousand to $19,202 thousand, and profit for the year increased from $5,494 thousand to $7,185 thousand. Marketing and administrative expenses were $496 thousand and $5,024 thousand, respectively, and the expected credit loss on trade receivables increased to $1,454 thousand. Finance costs rose to $4,146K and income tax expense was $1,273K. As of December 31, 2023, trade receivables and trade and other payables were $197,602 thousand and $128,976 thousand, respectively, and bank loans totaled $61,022 thousand. The Company's shares were listed on the Main Board of the Hong Kong Stock Exchange Limited on 31 March 2023 and no final dividend was distributed after the listing. The Company will continue to invest in R&D capabilities, promote its cross-border online store SaaS solutions business, upgrade its business and internal management systems, strengthen its service capabilities to localize overseas markets, and seek strategic cooperation and investment opportunities.