Financial Performance - For the first half of 2021, Labixiaoxin Snacks Group recorded revenue of RMB 361.4 million, an increase of approximately 44.5% compared to the same period last year, driven by a 43.5% increase in jelly product sales and a 385.9% increase in other snack food sales [21]. - The net profit for the first half of 2021 was RMB 27.5 million, a significant recovery from a net loss of RMB 76.6 million in the same period of 2020, primarily due to improved gross profit from jelly products and property sales [22]. - Revenue for the six months ended June 30, 2021, was RMB 361,351 thousand, representing a 44.5% increase from RMB 250,063 thousand in the same period of 2020 [47]. - Gross profit for the same period was RMB 127,691 thousand, up from RMB 92,340 thousand, indicating a gross margin improvement [47]. - Operating profit turned positive at RMB 44,426 thousand compared to an operating loss of RMB 57,212 thousand in the prior year [47]. - Net profit before tax was RMB 28,636 thousand, a significant recovery from a loss of RMB 76,883 thousand in the previous year [47]. - The company reported a net profit attributable to equity holders of RMB 27,477,000 for the six months ended June 30, 2021, compared to a loss of RMB 76,637,000 in the same period of 2020 [86]. - Basic earnings per share for the period was RMB 0.021, a significant improvement from a loss per share of RMB 0.058 in the previous year [86]. Revenue Breakdown - Jelly product revenue increased from RMB 228.6 million in the first half of 2020 to RMB 328.1 million in the first half of 2021, with jelly food sales rising by 23.3% to RMB 172.4 million and jelly drink sales increasing by 75.3% to RMB 155.7 million [23]. - The sales of sweet products rose by approximately 16.2% from RMB 16 million in the first half of 2020 to RMB 18.6 million in the first half of 2021, attributed to the recovery of consumer demand [24]. - Revenue from other snack foods surged by 385.9% to RMB 13.5 million, mainly due to the launch of a new series of healthy tofu products that received positive customer feedback [26]. - The beverage product revenue decreased by approximately 56.6% to RMB 1.2 million in the first half of 2021, as the company shifted focus from beverages to higher-margin jelly products [25]. Cost and Expenses - Sales cost increased by approximately 48.1% to RMB 233.7 million in the first half of 2021, while gross profit rose by about 38.3% to RMB 127.7 million, resulting in a slight decrease in gross margin from 36.9% to 35.3% [27]. - Selling and distribution expenses rose by approximately 38.6% to RMB 50.7 million, primarily due to an increase in advertising and promotional expenses by about 36.7% to RMB 24.3 million [28]. - Financing costs for the six months ended June 30, 2021, decreased to RMB 16,172 thousand from RMB 20,529 thousand in the same period of 2020, a reduction of approximately 21.5% [78]. - The company reported a net financing cost of RMB 15,790 thousand for the six months ended June 30, 2021, down from RMB 19,671 thousand in the same period of 2020 [78]. Distribution and Market Expansion - As of June 30, 2021, the company had 915 distributors, an increase from 900 distributors as of June 30, 2020, reflecting the ongoing expansion of its distribution network [22]. - The company plans to expand distribution channels through new retail, e-commerce, social media, and community initiatives over the next few years [44]. Financial Stability - The company's asset-liability ratio improved to 119.8% as of June 30, 2021, down from 147.6% at the end of 2020, indicating better financial stability [31]. - The company believes it will have sufficient operating funds to meet its financial obligations for the next 12 months [56]. - The board of directors has reviewed the cash flow forecasts and considers the going concern basis for preparing the financial statements to be appropriate [56]. Capital Expenditure and Investments - Capital expenditure for the first half of 2021 was RMB 9.9 million, primarily for upgrading production lines [34]. - The company has no significant investments, acquisitions, or disposals of subsidiaries or associates during the period ending June 30, 2021 [135]. Shareholder Information - The company’s major shareholders include Zheng Yulong, Zheng Yushuang, Zheng Yuhuan, and Li Hongjiang, each holding significant stakes through Alliance Food And Beverages (Holding) Company Limited [123][124]. - Zheng Yulong holds a beneficial interest in 119,935,060 shares, representing approximately 9.02% of the company's equity [124]. - The total number of shares held by Alliance Holding is 610,915,527, accounting for 45.97% of the company's equity [123]. Employee and Governance - As of June 30, 2021, the company had approximately 1,170 employees, with total salary expenses of RMB 50.9 million for the six months ending on that date [134]. - The company has maintained compliance with corporate governance codes and has not deviated from the corporate governance practices as of June 30, 2021 [138].

Financial Performance - Total revenue for 2020 was RMB 508.8 million, an increase of 9.0% from RMB 466.6 million in 2019[17] - Gross profit for 2020 reached RMB 166.5 million, with a gross margin of 32.7%, compared to RMB 139.0 million and a gross margin of 29.8% in 2019[17] - The company reported a net loss of RMB 29.4 million for 2020, a significant improvement from a net loss of RMB 170.1 million in 2019[17] - EBITDA for 2020 was RMB 15.98 million, a significant recovery from an EBITDA loss of RMB 153.3 million in 2019[17] - For the fiscal year ended December 31, 2020, the group's product sales amounted to RMB 508.8 million, representing an increase of approximately 9.0% compared to the fiscal year ended December 31, 2019[20] - The net loss for the fiscal year ended December 31, 2020, was RMB 29.4 million, a decrease of approximately 82.7% from the net loss of RMB 170.1 million for the fiscal year ended December 31, 2019[20] Assets and Liabilities - Total assets as of December 31, 2020, were RMB 1,529.2 million, slightly up from RMB 1,485.9 million in 2019[17] - Current assets increased to RMB 1,005.4 million in 2020, compared to RMB 698.7 million in 2019[17] - Total liabilities rose to RMB 1,061.4 million in 2020, compared to RMB 988.6 million in 2019[17] - The company’s total equity decreased to RMB 467.8 million in 2020 from RMB 497.2 million in 2019[17] - As of December 31, 2020, the group had a debt-to-asset ratio of 147.6%[21] - The group’s asset-liability ratio was 147.6% as of December 31, 2020, compared to 141.9% as of December 31, 2019[44] Revenue Breakdown - Revenue from jelly products increased by approximately 10.0% to RMB 384.2 million for the fiscal year ended December 31, 2020[30] - Revenue from jelly food increased by approximately 4.6% to RMB 237.5 million, while revenue from jelly drinks increased by approximately 20.0% to RMB 146.7 million[30] - Revenue from other snack foods increased by approximately 292.3% to RMB 15.3 million, primarily due to a significant increase in sales of tofu products[34] Operational Developments - The company plans to expand its product offerings and enhance market penetration in the coming years[17] - New product development initiatives are underway to capture emerging consumer trends in the snack food sector[17] - The group plans to continue promoting its brand and products, launch new snack foods, and reorganize production facilities to improve efficiency[22] Cash Flow and Expenditures - The group recorded capital expenditures of RMB 9.1 million for the fiscal year ended December 31, 2020, mainly for upgrading production lines[21] - As of December 31, 2020, cash and bank balances increased to RMB 258.8 million from RMB 24.8 million as of December 31, 2019, primarily due to proceeds from the sale of a subsidiary[44] - The group reported a net cash outflow from operating activities of RMB 12.5 million for the year ended December 31, 2020, compared to a net inflow of RMB 35 million in 2019[45] Corporate Governance - The company has adhered to all corporate governance code provisions for the year ended December 31, 2020, with no deviations reported[90] - The company has established appropriate insurance for directors and senior management against legal claims arising from corporate activities[94] - The board is responsible for overseeing the overall development of the company, including strategy formulation and financial performance review[92] - The company has established three committees: the Nomination Committee, the Remuneration Committee, and the Audit Committee, to oversee specific areas of the company's affairs[116] Shareholder Information - As of December 31, 2020, the group did not recommend the payment of a final dividend for the year, consistent with the previous year[155] - The group has no established dividend payout ratio, and any dividend payments will depend on operational performance, cash flow, and financial condition[157] - The board of directors will review the dividend policy annually, considering various factors including future prospects[157] Risk Management - The company has adopted clear risk management procedures and guidelines, with regular internal assessments to identify potential risks affecting operations and financial processes[135] - The board is responsible for evaluating and determining the nature and extent of risks the company is willing to take to achieve strategic objectives[135] Employee and Management Information - The total salary expenditure for employees was RMB 72.1 million for the year ending December 31, 2020, with approximately 1,060 employees[59] - The company’s procurement department is led by Mr. Chen Jianming, who has over 21 years of experience in business and banking[87] - The company’s sales and marketing department is managed by Mr. Lian Xi, who has over 21 years of experience in the food production industry[86] Strategic Planning - The company is actively involved in strategic planning and business development to enhance its market presence[78] - The company is focused on expanding its product offerings and exploring new market opportunities[78] Miscellaneous - The company reported no contingent liabilities as of December 31, 2020[58] - The company has a commitment to quality control and has implemented advanced quality management practices[75] - The company maintains a cautious optimism regarding long-term growth despite short-term challenges in the snack food industry[64]

® Labixiaoxin Snacks Group Limited 蠟 筆 小 新 休 閒 食 品 集 團 有 限 公 司 ( 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ) 股份代號 : 1262 報告 目錄 目錄 | --- | --- | --- | --- | |-------|-------|------------------------------|-------| | | | | | | | | 公司資料 | 2 | | | | 財務摘要 | 4 | | | | 管理層討論及分析 | 5 | | | | 簡明綜合損益及其他全面收益表 | 10 | | | | 簡明綜合財務狀況表 | 11 | | | | 簡明綜合權益變動表 | 13 | | | | 簡明綜合現金流量表 | 14 | | | | 簡明綜合財務報表附註 | 15 | | | | 其他資料 | 32 | 公司資料 蠟筆小新休閒食品集團有限公司 中期報告2020 公司資料 | --- | --- | |------------------------------------------------|------------- ...

Financial Performance - The company reported revenue of RMB 262.8 million for the first half of 2019, a decrease of approximately 8.1% compared to the same period last year[20]. - The net loss for the first half of 2019 was RMB 58 million, an increase of 10.1% from a net loss of RMB 52.7 million in the same period last year[20]. - Revenue from jelly products decreased by approximately 3.8% to RMB 229.1 million in the first half of 2019, primarily due to weak consumer sentiment in China[22]. - Sales of sweet products fell by approximately 21.8% to RMB 23.4 million, mainly due to reduced demand in overseas markets[23]. - Beverage product revenue decreased by approximately 50.7% to RMB 7.1 million, attributed to intense competition in the Chinese beverage market[24]. - The gross profit for the same period was RMB 89.49 million, representing an increase of 20.9% from RMB 74.00 million in the previous year[68]. - The operating loss for the six months was RMB 35.38 million, compared to an operating loss of RMB 16.95 million in the prior year, indicating a deterioration in operational performance[68]. - The net loss attributable to equity holders per share was RMB 0.044, compared to RMB 0.040 for the same period in 2018[67]. - The company reported a total loss for the period of RMB 57,974 thousand, with a pre-tax loss of RMB 58,040 thousand[106]. - The net loss attributable to equity holders was RMB (57,974,000) for the six months ended June 30, 2019, compared to RMB (52,693,000) in 2018, indicating an increase in loss of 10.8%[124]. Cost Management - The company's sales cost decreased by approximately 18.2% to RMB 173.3 million, leading to a gross profit increase of approximately 20.9% to RMB 89.5 million[28]. - Sales and distribution expenses decreased by approximately 41.3% to RMB 28.5 million, with advertising and promotional expenses down by approximately 53.6% to RMB 9.4 million[29]. - The total cost of goods sold decreased to RMB 128,798,000 in the first half of 2019 from RMB 158,490,000 in 2018, a decrease of 18.7%[117]. - Advertising and promotion expenses significantly decreased to RMB 9,393,000 in the first half of 2019 from RMB 20,240,000 in 2018, a reduction of 53.6%[117]. Cash Flow and Liquidity - The group recorded a net cash inflow from operating activities of RMB 82.3 million for the first half of 2019, a significant increase from RMB 52.6 million in the same period of 2018[36]. - Operating cash flow for the six months ended June 30, 2019, was RMB 82,286,000, up 56.5% from RMB 52,605,000 in the same period of 2018[82]. - Current liabilities exceeded current assets by RMB 283,012,000, an improvement from RMB 483,357,000 as of December 31, 2018, suggesting better liquidity management[87]. - The company plans to seek external funding to improve cash flow and meet operational needs[90]. Market Conditions - The overall market demand for leisure food products continued to weaken due to sluggish consumer sentiment and a slowdown in China's economic growth since 2014[20]. - The company anticipates continued challenges in the leisure food industry due to weak consumer sentiment and overall economic slowdown in China[56]. - The company remains cautiously optimistic about the long-term prospects of its business, expecting economic recovery in China to benefit the leisure food sector[56]. Distribution and Network Expansion - The company expanded its distribution network to 675 distributors as of June 30, 2019, up from 532 distributors a year earlier[21]. Assets and Liabilities - Total assets as of June 30, 2019, were RMB 1,638.94 million, a decrease from RMB 1,694.35 million as of December 31, 2018[72]. - Total equity as of June 30, 2019, is RMB 609,383,000, a decrease of 8.7% from RMB 667,357,000 as of December 31, 2018[75]. - Total liabilities increased slightly to RMB 1,029,558,000 from 1,026,990,000, indicating a stable financial position[75]. - The group’s debt-to-equity ratio as of June 30, 2019, was 105.3%, slightly down from 106.1% as of December 31, 2018[35]. Trade Receivables and Inventory - Trade receivables increased by RMB 3.8 million compared to the beginning of the year, with turnover days of 167 days for the first half of 2019, up from 150 days in 2018[39]. - The inventory turnover days for the first half of 2019 were 49 days, down from 59 days in the same period of 2018[38]. Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors to review accounting principles and practices[196]. - The company has adhered to the corporate governance code as per the listing rules, with no deviations reported as of June 30, 2019[199]. - Directors confirmed compliance with the standard code of conduct for securities trading during the six months ending June 30, 2019[200]. Shareholder Information - The largest shareholder, Alliance Food And Beverages (Holding) Company Limited, holds 610,915,527 shares, accounting for approximately 45.97% of the company's equity[176]. - Zheng Yulong, a director, has a beneficial interest in 119,935,060 shares, representing 9.02% of the company's equity[178]. - The company’s controlling shareholder agreed to sell shares for a total consideration of HKD 147,300,000, representing approximately 45.97% of the issued shares[166]. Employee Compensation - As of June 30, 2019, the group had approximately 1,189 employees with total salary expenses of RMB 39.8 million for the first half of 2019[193]. - The company’s major management personnel compensation remained stable at RMB 2,613,000 for the six months ended June 30, 2019, unchanged from the same period in 2018[161].

® Labixiaoxin Snacks Group Limited 蠟 筆 小 新 休 閒 食 品 集 團 有 限 公 司 ( 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ) 股份代號 : 1262 2018 # 報 目錄 目錄 2 公司資料 4 財務摘要 5 財務概要 6 主席報告 10 管理層討論及分析 19 董事及高級管理層履歷 23 企業管治報告 35 董事局報告 46 獨立核數師報告 51 綜合損益及其他全面收益表 52 綜合財務狀況表 54 綜合權益變動表 55 綜合現金流量表 56 綜合財務報表附註 公司資料 公司資料 | --- | --- | |--------------------------------------------|---------------------| | | | | 註冊辦事處 | 董事局 | | Clarendon House | 執行董事 | | 2 Church Street | 鄭育煥 （主席） | | Hamilton HM 11 | 鄭育雙 （行政總裁） | | Bermuda | 鄭育龍 | | 總部及中國主要營業地點 | 非執行董事 | ...