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欣融国际(01587) - 2024 - 中期业绩
2024-08-16 11:21
Financial Performance - The group's unaudited revenue for the six months ended June 30, 2024, was RMB 298.6 million, a decrease of 8% compared to RMB 324.7 million for the same period in 2023[1]. - The group's unaudited gross profit for the six months ended June 30, 2024, was RMB 57.2 million, an increase of 19% compared to RMB 51.2 million for the same period in 2023[1]. - The unaudited profit attributable to equity holders of the parent company for the six months ended June 30, 2024, was RMB 18.9 million, an increase of 78% compared to RMB 10.6 million for the same period in 2023[1]. - The basic and diluted earnings per share for the six months ended June 30, 2024, was RMB 0.03, compared to RMB 0.02 for the same period in 2023[1]. - The total tax expense for the six months ended June 30, 2024, was RMB 7,128,000, an increase from RMB 4,887,000 for the same period in 2023[19]. - Profit for the period increased by RMB 8.3 million or 78% to RMB 18.9 million, compared to RMB 10.6 million in the previous year[25]. - The gross profit increased by RMB 6.0 million to RMB 57.2 million, with a gross margin rising to 19.1% from 15.8% in the previous year[33]. Revenue Breakdown - Revenue from customer contracts for the six months ended June 30, 2024, was approximately RMB 298,601,000, a decrease of 8.06% from RMB 324,723,000 for the same period in 2023[16]. - Sales of food raw materials amounted to RMB 148,751,000, while sales of food additives were RMB 149,850,000 for the six months ended June 30, 2024[17]. - The total revenue for the six months ended June 30, 2023, was RMB 324,723,000, with food raw materials contributing RMB 159,115,000 and food additives contributing RMB 165,608,000[18]. Assets and Liabilities - The total non-current assets as of June 30, 2024, amounted to RMB 320.7 million, an increase from RMB 260.7 million as of December 31, 2023[6]. - Current assets totaled RMB 332.9 million as of June 30, 2024, slightly down from RMB 333.0 million as of December 31, 2023[6]. - Current liabilities increased to RMB 121.1 million as of June 30, 2024, compared to RMB 102.7 million as of December 31, 2023[7]. - The net asset value as of June 30, 2024, was RMB 472.1 million, up from RMB 462.8 million as of December 31, 2023[7]. - The group's cash and cash equivalents balance as of June 30, 2024, was RMB 176.5 million, an increase of RMB 19.0 million from RMB 157.5 million as of December 31, 2023[47]. - The debt-to-asset ratio as of June 30, 2024, was 27.8%, compared to 22.0% as of December 31, 2023[48]. Trade Receivables and Payables - Trade receivables as of June 30, 2024, were RMB 75,353,000, a decrease from RMB 92,269,000 as of December 31, 2023[22]. - Trade receivables aged analysis showed RMB 55.4 million within 3 months, down from RMB 75.7 million in the previous year[23]. - Trade payables were RMB 24.4 million within 3 months, compared to RMB 27.5 million in the previous year[24]. - The accounts receivable turnover days increased from 48 days as of December 31, 2023, to 53 days as of June 30, 2024[46]. Dividends - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2024, compared to no dividend for the same period in 2023[1]. - The company declared a final dividend of HKD 0.015 per share, amounting to approximately RMB 9,288,000 for the six months ended June 30, 2024, compared to RMB 8,762,000 for the same period in 2023[20]. - The board does not recommend the payment of any dividends for the review period[61]. Strategic Initiatives - The company plans to enhance its R&D capabilities with a new Asia-Pacific Innovation Center expected to be operational by early 2025[29]. - The company aims to explore strategic investment opportunities and seek acquisitions of quality target businesses and assets[29]. - The group has established strong relationships with global suppliers, including Nestlé and Mitsubishi, over several decades[26]. Compliance and Reporting - The company has adopted revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements for the period[12]. - The audit committee consists of three independent non-executive directors, ensuring compliance with applicable accounting standards and listing rules[62]. - The interim results have been reviewed and are in accordance with all applicable accounting standards and listing rules[63]. - A detailed interim report for the fiscal year 2024 will be sent to shareholders and published on the company's website at an appropriate time[63].
欣融国际(01587) - 2023 - 年度财报
2024-04-19 08:52
Financial Performance - For the fiscal year ending December 31, 2023, Shineroad International Holdings Limited reported a revenue of RMB 683.6 million, a decrease of 6.14% from RMB 728.3 million in 2022[6]. - The gross profit for the same period was RMB 114.5 million, down 5.53% from RMB 121.2 million in the previous year[6]. - Net profit fell significantly by 57.44% to RMB 20.3 million, compared to RMB 47.7 million in 2022[6]. - Basic and diluted earnings per share decreased to RMB 0.03, down from RMB 0.07 in the prior year, reflecting a decline of 57.44%[6]. - The group's revenue for the reporting year was RMB 683.6 million, a decrease of 6.14% from RMB 728.3 million in the previous year[20][21]. - The profit for the reporting year was RMB 20.3 million, down 57.44% from RMB 47.7 million in the previous year[34]. - The cost of sales decreased to RMB 569.1 million, a reduction of approximately 6.26% from RMB 607.1 million in the previous year[25]. - Other income decreased by 17.74% to RMB 5.1 million from RMB 6.2 million in the previous year, primarily due to a reduction in government subsidies[27]. Operational Developments - The company has secured new agency rights in the health and nutrition sector, including L-malic acid and rice milk powder in August 2023, and microcrystalline cellulose in December 2023[12]. - Shineroad plans to enhance its R&D capabilities with the establishment of an Asia-Pacific Innovation Center, covering 40,816.13 square meters, expected to be operational by early 2025[16]. - The company aims to increase product sales through existing and new agency rights, focusing on the food service and health sectors[15]. - Strategic investment opportunities will be actively explored, with a focus on acquiring quality target businesses and assets to create synergies[16]. - The recovery of the consumer and tourism sectors in Southeast Asia is expected to alleviate pressures on the food industry, benefiting the company's operations[13]. Expenses and Cash Flow - Selling and distribution expenses increased by approximately 24.89% to RMB 29.6 million from RMB 23.7 million in the previous year, mainly due to the exploration and promotion of new channels[29]. - Administrative expenses rose by approximately 18.07% to RMB 46.4 million from RMB 39.3 million in the previous year, driven by the expansion of labor costs[30]. - Net cash flow from operating activities was approximately RMB 50.9 million, down from RMB 94.4 million in the previous year[36][37]. - Cash used in investing activities amounted to RMB 87.8 million, primarily due to the purchase of property, plant, and equipment[38]. - Cash flow from financing activities was RMB 12.2 million, mainly due to new bank loans of approximately RMB 44.7 million[39]. Assets and Liabilities - Current assets decreased from RMB 312.3 million as of December 31, 2022, to RMB 230.3 million as of December 31, 2023, primarily due to the construction and development of the Asia-Pacific Innovation Center[41]. - Cash and cash equivalents decreased by RMB 24.7 million from RMB 182.2 million as of December 31, 2022, to RMB 157.5 million as of December 31, 2023, mainly due to the construction of the Asia-Pacific Innovation Center[42]. - The total interest-bearing bank borrowings increased from RMB 20.0 million as of December 31, 2022, to RMB 44.7 million as of December 31, 2023, due to an increase in long-term loans[42]. - The debt-to-asset ratio as of December 31, 2023, was 22.0%, up from 18.3% as of December 31, 2022[42]. Corporate Governance - The board proposed a final dividend of HKD 0.015 per share, equivalent to approximately RMB 0.0136, totaling RMB 9.2 million based on 680 million shares issued[55]. - The board of directors consists of six members, including the chairman and CEO, ensuring a balanced composition with extensive corporate and strategic planning experience[60]. - The board has established committees, including the Audit Committee, Remuneration Committee, and Nomination Committee, to assist in fulfilling its responsibilities[62]. - All independent non-executive directors have confirmed their independence according to listing rules, with two possessing appropriate professional qualifications in accounting and financial management[64]. - The company has implemented mechanisms to ensure independent opinions and advice are available to the board, including annual reviews of the number of independent non-executive directors[67]. Shareholder Communication - The company ensures timely and comprehensive communication with shareholders and investors through financial reports and annual general meetings[115]. - The board of directors is committed to maintaining ongoing dialogue with shareholders and regularly reviewing communication policies for effectiveness[115]. - The company has a shareholder communication policy aimed at providing equal and understandable information regarding financial performance and strategic goals[115]. - The company encourages shareholders to attend annual general meetings where updates on strategies, products, and services will be communicated[116]. - The company has a dedicated email address for shareholder inquiries, ensuring accessibility for communication[111]. Market Position and Future Outlook - The company reported a significant increase in user data, with a year-over-year growth of 25% in active users[127]. - Revenue for the fiscal year reached $500 million, representing a 15% increase compared to the previous year[131]. - The company has set a future outlook with a revenue guidance of $600 million for the next fiscal year, indicating a projected growth of 20%[131]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative technology solutions[131]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[131]. Compliance and Risk Management - The company emphasizes compliance with health and safety standards for food ingredients and additives to mitigate potential consumer harm risks[142]. - The company has adopted internal policies to ensure compliance with social security and housing fund regulations in China since November 2017[148]. - The company has not faced any significant non-compliance issues related to environmental laws and regulations as of the report date[151]. - The company has established a pricing policy that was adhered to in all significant aspects of the ongoing related party transactions[200].
欣融国际(01587) - 2023 - 年度业绩
2024-03-27 13:41
Financial Performance - The company's revenue for the fiscal year ended December 31, 2023, was RMB 683.6 million, a decrease of 6.14% compared to RMB 728.3 million in 2022[12]. - Gross profit for the fiscal year was RMB 114.5 million, down 5.53% from RMB 121.2 million in the previous year[12]. - The net profit attributable to the owners of the parent company for the fiscal year was RMB 20.3 million, a significant decrease of 57.44% from RMB 47.7 million in 2022[12]. - Basic and diluted earnings per share were RMB 0.03, compared to RMB 0.07 in the previous year[12]. - The total comprehensive income for the year was RMB 20.2 million, down from RMB 50.8 million in 2022[6]. - Revenue from customer contracts for 2023 was RMB 683,591 thousand, a decrease of 6.1% from RMB 728,308 thousand in 2022[38]. - Revenue from the sale of food raw materials in 2023 was RMB 344,256 thousand, down from RMB 349,661 thousand in 2022, while revenue from food additives decreased from RMB 378,647 thousand to RMB 339,335 thousand[38]. - The cost of sales for the reporting year was RMB 569.1 million, down approximately 6.26% from RMB 607.1 million in the previous year, primarily due to the decrease in sales[81]. - The total tax expense for the fiscal year 2023 was RMB 11.6 million, a reduction of RMB 6.2 million from RMB 17.8 million in 2022[110]. - Other income decreased by RMB 1.1 million or 17.74% to RMB 5.1 million due to a reduction in government subsidies[131]. Assets and Liabilities - The company's total assets as of December 31, 2023, were RMB 462.8 million, an increase from RMB 451.4 million in 2022[20]. - Non-current liabilities increased to RMB 28.1 million in 2023 from RMB 3.975 million in 2022, primarily due to the addition of interest-bearing bank loans[9]. - Total non-current assets increased to RMB 260,650 thousand in 2023 from RMB 143,073 thousand in 2022, reflecting a significant growth in investments[45]. - Current assets decreased to RMB 333,004 thousand in 2023 from RMB 409,773 thousand in 2022, primarily due to a reduction in inventory and cash[45]. - The net value of current assets was RMB 230,268 thousand in 2023, down from RMB 312,325 thousand in 2022, indicating a tighter liquidity position[45]. - The total liabilities for current liabilities increased slightly to RMB 102,736 thousand in 2023 from RMB 97,448 thousand in 2022[45]. - The company's capital as of December 31, 2023, was RMB 462.8 million, an increase of RMB 11.4 million from RMB 451.4 million on December 31, 2022[165]. - The debt-to-asset ratio as of December 31, 2023, was 22.0%, compared to 18.3% on December 31, 2022[170]. Cash Flow - The company reported a net cash flow from operating activities of RMB 50.9 million in 2023, down from RMB 94.4 million in 2022[119]. - The cash and cash equivalents at the end of 2023 were RMB 157.5 million, down from RMB 182.2 million at the end of 2022[119]. - The net cash used in investing activities for the reporting year was RMB 87.8 million, primarily due to the purchase of property, plant, and equipment amounting to RMB 57.6 million and long-term deposits of RMB 30.0 million[167]. - As of December 31, 2023, the cash and cash equivalents balance was RMB 157.5 million, a decrease of RMB 24.7 million from RMB 182.2 million on December 31, 2022, mainly due to the construction and development of the Asia-Pacific Innovation Center[169]. Dividends - The company proposed a final dividend of HKD 0.015 per share, amounting to approximately RMB 9.2 million, consistent with the previous year's dividend[12]. - The board proposed a final dividend of HKD 0.015 per ordinary share, equivalent to approximately RMB 0.0136, totaling HKD 10.2 million (approximately RMB 9.2 million) based on 680,000,000 shares issued[180]. Strategic Focus - The company continues to focus on the distribution of food ingredients and additives, with plans for market expansion in the future[11]. - The company plans to strengthen its own brand and product portfolio through self-developed formula products and potential food raw materials[114]. - The company aims to explore strategic investment opportunities and seek acquisitions of quality target businesses and assets[116]. - The company is seeking partnerships with specialty brands in the food and nutrition sectors to enhance its competitive advantage[137]. - The company has established several subsidiaries in China and Vietnam focused on the distribution and R&D of food raw materials, with 100% ownership in these entities[49][51]. - The company continues to focus on expanding its market presence in mainland China, where approximately 95% of its identifiable non-current assets are located[36]. - The company plans to establish an Asia-Pacific Innovation Center with a total construction area of 40,816.13 square meters, expected to be operational by early 2025[139]. Risk Management - The company maintains strict control over its outstanding receivables to minimize credit risk, with no significant credit concentration risk identified[74]. - The company reported a single customer accounted for approximately RMB 51.77 million in sales during the year[61]. - The company has a performance obligation that is fulfilled upon delivery of goods, with payment typically due within 30 to 90 days[65]. - The company has not incurred any income tax liabilities in the Cayman Islands and British Virgin Islands due to applicable regulations[68]. - The company has not disclosed information regarding remaining performance obligations as per the practical expedient under Hong Kong Financial Reporting Standard 15[65]. - The company experienced a decrease in trade receivables impairment loss provisions, with a year-end balance of RMB 11.8 million in 2023 compared to RMB 0.7 million in 2022[99]. - Trade receivables net amount was RMB 80.5 million in 2023, compared to RMB 83.3 million in 2022[96]. - Trade receivables increased by RMB 12.1 million, while trade payables decreased by approximately RMB 20.0 million[143].
欣融国际(01587) - 2023 - 中期财报
2023-08-30 10:08
Financial Performance - The group's revenue for the six months ended June 30, 2023, was approximately RMB 324.7 million, a decrease of 17% compared to RMB 392.9 million in the same period last year[8]. - Profit for the period decreased by RMB 13.2 million or 56% to RMB 10.6 million, down from RMB 23.8 million in the same period last year[8]. - The basic earnings per share for the group was RMB 0.02, compared to RMB 0.03 in the same period last year, a decrease of RMB 0.01[8]. - Gross profit decreased by RMB 9.7 million to RMB 51.2 million, while the gross profit margin increased to 15.8% from 15.5% in the same period last year[29]. - Other income decreased by RMB 0.7 million or 17% to RMB 3.3 million, primarily due to a reduction in government subsidies[32]. - Profit before tax from continuing operations was RMB 15.5 million, a decline of 50.7% compared to RMB 31.3 million in the previous year[70]. - Net profit for the period was RMB 10.6 million, representing a decrease of 55.5% from RMB 23.8 million in the prior year[70]. - The total comprehensive income for the period was RMB 11.855 million, which includes a foreign exchange difference of RMB 1.285 million[101]. - The total tax expense for the six months ended June 30, 2023, was RMB 4,887,000, down from RMB 7,501,000 in the same period of 2022, representing a reduction of approximately 34.0%[140]. - The company reported a basic and diluted earnings per share of RMB 0.02 for the period, down from RMB 0.03 in the previous year, representing a decrease of approximately 33.3%[122]. Revenue and Sales - Revenue for the six months ended June 30, 2023, was RMB 324.7 million, a decrease of 17.4% compared to RMB 392.9 million for the same period in 2022[70]. - Revenue from Mainland China accounted for RMB 202,421,000, up from RMB 183,979,000 in the previous year, indicating a growth of about 10%[138]. - The company's revenue for the six months ended June 30, 2023, was approximately RMB 36,940,000, a decrease from RMB 22,243,000 for the same period in 2022, primarily from sales to a single customer[156]. - The company’s total revenue from related party sales was RMB 9,758 million for the six months ended June 30, 2023, compared to RMB 10,409 million for the same period in the previous year[181]. Expenses and Costs - The group's cost of sales for the period was RMB 273.5 million, a decrease of 18% from RMB 332.0 million in the same period last year[28]. - Sales and distribution expenses increased by RMB 2.2 million or 17% to RMB 15.4 million during the review period, primarily due to participation in reopened exhibitions and the expansion of e-commerce sales channels[48]. - Administrative expenses rose by RMB 2.5 million or 12% to RMB 22.5 million, mainly due to increased personnel costs and the expansion of e-commerce channels[48]. - Financing costs increased by RMB 0.4 million to RMB 0.7 million during the review period, primarily due to rising loan interest[49]. - The group’s financing costs increased to RMB 652,000 in the first half of 2023 from RMB 297,000 in the same period of 2022[104]. Assets and Liabilities - As of June 30, 2023, the group's debt included bank loans of RMB 40.0 million, lease liabilities of RMB 2.2 million, and payables to related companies of RMB 2.6 million, compared to bank loans of RMB 20.0 million, lease liabilities of RMB 3.2 million, and payables to related companies of RMB 2.4 million as of December 31, 2022[38]. - Total assets as of June 30, 2023, amounted to RMB 456.1 million, an increase from RMB 455.4 million as of December 31, 2022[72]. - The debt-to-asset ratio was 19.0% as of June 30, 2023, compared to 18.3% at the end of 2022[76]. - The total amount of trade payables as of June 30, 2023, was RMB 146,392 million, reflecting a significant increase from RMB 6,734 million[190]. - The company recorded a total of RMB 100,662 million in trade receivables as of June 30, 2023, compared to RMB 83,281 million as of December 31, 2022[185]. Cash Flow and Liquidity - The group's cash and cash equivalents balance as of June 30, 2023, was RMB 169.9 million, a decrease of RMB 12.3 million from RMB 182.2 million as of December 31, 2022, attributed to payments for the construction of the global R&D center[55]. - Operating cash flow for the six months ended June 30, 2023, was a net outflow of RMB 1.557 million, compared to an inflow of RMB 40.737 million for the same period in 2022[104]. - Cash and cash equivalents at the end of the period were RMB 169,889,000, compared to RMB 136,756,000 at the end of the same period last year, showing an increase of about 24.2%[129]. - Cash and bank balances at the end of the reporting period were RMB 3,316 million in USD, RMB 5,758 million in HKD, RMB 1,664 million in VND, and RMB 1,491 million in THB, showing an increase from the previous year[186]. Corporate Governance and Strategy - The group plans to enhance its own brand and product portfolio through self-developed formula products and potential food ingredients[12]. - The group aims to explore strategic investment opportunities and seek acquisitions of quality target businesses and assets to create synergies[13]. - The company plans to continue enhancing its corporate governance practices to align with the latest developments and ensure compliance with the corporate governance code[117]. - The company has maintained a high standard of corporate governance to protect shareholder interests and enhance company value[117]. Investments and Development - The Asia-Pacific Innovation Center, with a total construction area of 40,816.13 square meters, is expected to be operational by the end of 2024, which will support the group's business expansion and R&D capabilities[25]. - The investment in Tianye Joint Venture as of June 30, 2023, was RMB 102.8 million, accounting for approximately 18.3% of the group's total assets[65]. - The group did not have any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the review period[92]. - The group has not made any significant investments or capital asset plans during the review period[91].
欣融国际(01587) - 2023 - 中期业绩
2023-08-16 09:12
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責,對其準確 性或完整性亦不發表任何聲明,並明確表示概不就因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 Shineroad International Holdings Limited 欣 融 國 際 控 股 有 限 公 司 (於開曼群島註冊成立之有限公司) (股份代號:1587) 截至二零二三年六月三十日止六個月 中期業績公告 財務摘要 ‧ 本集團截至二零二三年六月三十日止六個月的未經審核收益為人民幣 324.7百萬元,相較於二零二二年同期的人民幣392.9百萬元減少17%。 ‧ 本集團截至二零二三年六月三十日止六個月的未經審核毛利為人民幣 51.2百萬元,相較於二零二二年同期的人民幣60.9百萬元減少16%。 ‧ 截至二零二三年六月三十日止六個月的未經審核母公司擁有人應佔回顧 期溢利為人民幣10.6百萬元,相較於二零二二年同期的人民幣23.8百萬 元減少56%。 ‧ 未經審核每股基本及攤薄盈利為人民幣0.02元(二零二二年六月三十日: ...
欣融国际(01587) - 2022 - 年度财报
2023-04-19 08:40
Stock Options and Equity - The company did not grant any stock options under the stock option plan during the reporting year[3]. - The total number of shares issued upon the exercise of stock options granted under the stock option plan shall not exceed 1% of the total issued shares at that time[2]. - The company has adopted a share option scheme allowing directors and employees to participate based on performance and profitability[198]. Customer and Supplier Relationships - Sales to the company's five largest customers accounted for 27.56% of total sales for the year, with the largest customer representing 7.53% of total sales[21]. - The total annual transaction amount from suppliers Huirong, Haixiang Food, and Dingheng was RMB 25.3 million, without exceeding the annual cap for the reporting year[37]. - The company has established strong relationships with global suppliers, including Nestlé from Switzerland, Mitsubishi from Japan, and others, maintaining partnerships for nearly 20 years[105]. - The company supplied food ingredients and additives to over 1,514 customers in China, varying in size and business nature[78]. Compliance and Governance - The company has received annual confirmation letters from the covenant parties regarding compliance with non-competition agreements[9]. - The company has not entered into any significant transactions with directors or their close associates that would constitute competition with the company's business[7]. - The company maintains compliance with public float requirements as per listing rules[23]. - The company has complied with listing rules and securities regulations, ensuring proper corporate governance and information disclosure[75]. - The board proposed a final dividend of HKD 0.015 per share, totaling approximately RMB 9.1 million, down from RMB 2.25 per share in the previous year[176]. - The board's diversity policy emphasizes a balanced composition to enhance decision-making and governance[192]. - The audit committee consists of three independent non-executive directors, ensuring robust oversight[197]. Financial Performance - The company recorded revenue of approximately RMB 728.3 million for the reporting year, a decrease of about 15.67% compared to RMB 863.6 million for the previous year[104]. - The profit for the reporting year was approximately RMB 47.7 million, down about 44.62% from RMB 86.1 million in the previous year[104]. - Basic and diluted earnings per share were RMB 0.07, a decrease of RMB 0.06 compared to RMB 0.13 in the previous year[104]. - The cost of sales for the fiscal year was RMB 607.1 million, a reduction of approximately 14.84% compared to RMB 713.0 million in the previous year[132]. - Other income decreased significantly from RMB 20.1 million to RMB 6.2 million, primarily due to a one-time gain of RMB 13.3 million recognized in the previous year[134]. - Selling and distribution expenses decreased by approximately 20.07% from RMB 29.7 million to RMB 23.7 million, mainly due to reduced bonuses paid[135]. - Financing costs decreased from RMB 1.1 million to RMB 0.6 million, attributed to lower bank loan interest[137]. - The group's gross profit decreased by RMB 29.4 million to RMB 121.2 million, with a gross margin decline to 16.64% from 17.44% due to increased import costs from currency fluctuations[134]. - The group's income tax expense decreased from RMB 22.2 million to RMB 17.8 million, a reduction of RMB 4.4 million, primarily due to a decline in profit[163]. Risk Management and Strategy - The company is committed to maintaining effective risk management and internal control systems to address challenges posed by COVID-19[47]. - The company faces risks related to reliance on key suppliers, potential food safety issues, and increasing regulatory requirements affecting operational costs[72]. - The company aims to integrate climate-related issues and environmental, social, and governance elements into its long-term business strategy[26]. - The company plans to enhance its R&D capabilities and explore strategic investment opportunities to create synergies through acquisitions of quality target businesses and assets[108]. - The company aims to increase product sales through existing and new agency rights, as well as by strengthening its own brand and product portfolio[127]. - The company is optimistic about future growth despite global economic uncertainties, expecting strong revenue growth and value creation for shareholders[126]. Employee and Compensation - The company has established a compensation policy based on current market terms and individual employee performance[10]. - As of December 31, 2022, the company had 176 employees, with a focus on competitive compensation and performance evaluation[77]. - Administrative expenses rose by approximately 6.23% from RMB 37.0 million to RMB 39.3 million, primarily due to increased employee salaries and social insurance contributions[162]. Assets and Cash Flow - The net cash flow from operating activities improved to RMB 94.36 million from a cash outflow of RMB 15.28 million in the previous year[140]. - Cash and cash equivalents increased by RMB 47.3 million to RMB 182.2 million, mainly due to improved management efficiency[143]. - The debt-to-asset ratio improved to 18.3% from 22.5% year-on-year[144]. - The company's capital increased by RMB 37.6 million to RMB 451.4 million as of December 31, 2022[150]. - Current liabilities decreased to RMB 97.4 million from RMB 115.8 million in the previous year, reflecting improved financial management[169]. - The group recorded a decrease in inventory to RMB 92.9 million from RMB 60.1 million, indicating a potential shift in inventory management strategy[169]. - The group's cash and cash equivalents increased to RMB 182.2 million from RMB 134.9 million in the previous year[169]. - The group's investment in a joint venture amounted to RMB 102.8 million, representing approximately 18.59% of total assets as of December 31, 2022[174]. - The group did not receive any dividends from its joint venture during the reporting year, but remains optimistic about its future prospects[174]. Business Operations - The company’s main business operations are conducted through subsidiaries in Shanghai, Guangzhou, and Beijing, focusing on food ingredient distribution[68]. - The company has established six subsidiaries in China to enhance market penetration and expand product sales and distribution coverage[122]. - The company aims to become the most reliable partner in the food industry through its strong R&D capabilities[94]. - In April 2022, the company obtained the agency rights for various food ingredient products from Korea's Jeonggwanjang[97]. - The company has obtained agency rights for various food additives from Denmark's Chr. Hansen, expanding its product offerings[124]. - A new procurement agreement was established on October 25, 2021, for a three-year term starting January 1, 2022, covering the purchase of food ingredients and additives[36]. - The company has established a new supply agreement for a three-year term starting January 1, 2022, to supply sugar esters, vanillin, and other food ingredients[38].
欣融国际(01587) - 2022 - 年度业绩
2023-03-30 12:46
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責,對其準確 性或完整性亦不發表任何聲明,並明確表示概不就因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 Shineroad International Holdings Limited 欣 融 國 際 控 股 有 限 公 司 (於開曼群島註冊成立之有限公司) (股份代號:1587) 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 之 年 度 業 績 公 告 財務摘要 ‧ 本集團截至報告年度的收益為人民幣 728.3百萬元,相較於二零二一年的 人民幣863.6百萬元減少15.67%。 ‧ 本集團截至報告年度的毛利為人民幣 121.2百萬元,相較於二零二一年的 人民幣150.6百萬元減少19.56%。 ‧ 年內溢利及截至報告年度的母公司擁有人年度應佔溢利為人民幣 47.7百 萬元,相較於二零二一年的人民幣86.1百萬元減少44.62%。 ‧ 每股基本及攤薄盈利為人民幣0.07元(二零二一年:人民幣0.13元)。 ...
欣融国际(01587) - 2022 - 中期财报
2022-08-30 08:49
Financial Performance - The group reported a revenue of HKD 392.9 million for the first half of 2022, compared to HKD 206.5 million in the same period last year, representing an increase of 90%[21]. - The group's revenue for the review period was RMB 392.9 million, an increase of 6.3% compared to RMB 369.5 million in the same period last year[30]. - Revenue for the six months ended June 30, 2022, was RMB 392,903 thousand, an increase of 6.0% compared to RMB 369,461 thousand for the same period in 2021[84]. - The revenue from the food raw materials segment was RMB 206,452,000 for the six months ended June 30, 2022, up from RMB 186,451,000 in the same period of 2021, indicating a growth of about 10.7%[130]. - Profit for the review period decreased by RMB 19.3 million or 44.8% to RMB 23.8 million, compared to RMB 43.1 million in the same period last year[44]. - The company's profit attributable to equity holders for the six months ended June 30, 2022, was 23,780,000 RMB, a decline of 44.5% from 43,077,000 RMB in the same period last year[160]. - Basic and diluted earnings per share for the period were RMB 0.03, down from RMB 0.06 in the previous year[88]. - Total comprehensive income for the period was RMB 26,703 thousand, compared to RMB 42,911 thousand in the same period last year, reflecting a decrease of 37.8%[90]. Cost and Expenses - The cost of sales increased to RMB 320.0 million, up 10.7% from RMB 300.0 million in the previous year, due to higher sales revenue and procurement costs[32]. - Gross profit decreased by RMB 8.6 million to RMB 60.9 million, with a gross margin of 15.5%, down from 18.8% in the previous year[33]. - Selling and distribution expenses decreased by RMB 3.4 million or 20.5% to RMB 13.2 million, attributed to reduced travel expenses due to lockdowns[39]. - Administrative expenses increased by RMB 2.2 million or 12.4% to RMB 20.0 million, mainly due to higher employee salaries and social security adjustments[40]. - The total tax expense for the six months ended June 30, 2022, was RMB 7,501,000, down from RMB 12,687,000 in the same period of 2021, showing a decrease of about 41.3%[152]. Investments and Assets - The group holds 28,125,200 shares of Tianye, representing approximately 10.42% of Tianye's equity, with an investment cost of RMB 78.8 million[70]. - As of June 30, 2022, the group's investment in Tianye amounted to RMB 99.7 million, accounting for 19.2% of the group's total assets[70]. - The group has no foreign currency hedging policy but monitors foreign currency risks and may consider hedging significant risks when necessary[54]. - The total assets as of June 30, 2022, amounted to RMB 518,609 thousand, while total liabilities were RMB 91,240 thousand, resulting in a net asset value of RMB 427,369 thousand[97]. - The group’s total identifiable non-current assets located in mainland China accounted for over 95% of its total non-current assets[120]. Cash Flow and Liquidity - The group's cash and cash equivalents increased to RMB 136.8 million from RMB 134.9 million, reflecting an increase in operating cash flow[52]. - The net cash flow from operating activities for the six months ended June 30, 2022, was RMB 39,574,000, an increase from RMB 31,281,000 in the previous year, indicating a growth of approximately 26.5%[110]. - The cash and cash equivalents at the end of June 30, 2022, were RMB 136,756,000, a decrease from RMB 143,381,000 at the end of June 2021, representing a decline of approximately 4.6%[112]. - The company reported a financing cash outflow of RMB 35,148,000 for the six months ended June 30, 2022, compared to an inflow of RMB 18,122,000 in the same period of the previous year[112]. Strategic Initiatives - The company has established a strong customer base across various provinces in China, serving major clients such as Nestlé, Coca-Cola, and AAK[13]. - In April 2022, the company obtained agency rights for various food ingredient products from Korea's Jeonggwanjang, focusing on the nutrition and health sector[10]. - The company plans to enhance its R&D capabilities by constructing an Asia-Pacific Innovation Center on a land area of approximately 20,936.5 square meters, which will include a food solutions laboratory, manufacturing, logistics, and sales functions[17]. - The company aims to increase product sales through existing and new agency rights, targeting the food service and nutrition sectors[15]. - The group has expanded its distribution coverage significantly by establishing six subsidiaries in cities such as Xiamen, Qingdao, and Wuhan, enhancing market penetration[9]. - The company is actively seeking strategic investment opportunities and aims to acquire quality target businesses and assets to create synergies[18]. Governance and Compliance - The company continues to enhance its corporate governance practices to align with the latest developments and ensure compliance with applicable rules[75]. - The audit committee has reviewed the interim results and confirmed adherence to applicable accounting standards and listing rules[81]. Workforce and Employment - The group employed 175 staff members, with compensation determined based on market terms and individual performance[56]. - The company’s workforce costs, including salaries and wages, amounted to RMB 22,623,000 for the six months ended June 30, 2022, compared to RMB 20,893,000 for the same period in 2021, reflecting an increase of approximately 8.3%[149]. Inventory and Trade Receivables - Trade receivables as of June 30, 2022, amounted to 142,491,000 RMB, down from 157,949,000 RMB at the end of the previous year[178]. - Inventory levels increased significantly, with raw materials at 32,132,000 RMB compared to 14,039,000 RMB in the previous year, indicating a rise of 128%[177]. - The company reported a provision for inventory of 81,253,000 RMB, up from 60,197,000 RMB, reflecting a 35% increase[177]. - The aging analysis of trade receivables showed that 136,239,000 RMB was within three months, down from 149,258,000 RMB in the previous year[182]. - The company has maintained strict control over its trade receivables to minimize credit risk, with no significant credit concentration risk identified[178].
欣融国际(01587) - 2021 - 年度财报
2022-04-19 09:18
Financial Performance - For the year ended December 31, 2021, the company reported revenue of approximately RMB 863.6 million, an increase of 31.8% compared to RMB 655.3 million in 2020[23] - Gross profit for the same period was RMB 150.6 million, reflecting a growth of 40.1% from RMB 107.5 million in the previous year[23] - Net profit surged to RMB 86.1 million, marking a significant increase of 146.7% from RMB 34.9 million in 2020[23] - Basic earnings per share rose to RMB 0.13, up 160.0% from RMB 0.05 in the prior year[23] - The company's revenue for the reporting year was RMB 863.6 million, an increase of 31.8% from RMB 655.3 million in the previous year[45] - The profit for the reporting year rose to RMB 86.1 million, a significant increase of 146.7% from RMB 34.9 million in the previous year[63] - The gross profit increased to RMB 150.6 million, up from RMB 107.5 million, with a gross margin of 17.44%, compared to 16.4% in the previous year[52] - Other income and gains rose to RMB 20.1 million, a 151.3% increase from RMB 7.99 million in the previous year, primarily due to increased investment income[54] Operational Developments - The company expanded its customer base by acquiring six new agency rights in 2021, focusing on the food and beverage sectors[35] - Strategic partnerships were established, including a memorandum of understanding with Mars China in November 2021 for collaborative growth[39] - The company has strengthened its market presence in China by establishing new subsidiaries in cities such as Xiamen, Qingdao, and Wuhan[29] - Investment in joint ventures has further supported the company's long-term growth and sustainable profitability[28] - The company aims to maintain a focus on quality and efficiency to deliver satisfactory performance and sustainable returns to shareholders[41] - Future development plans include increasing product sales through existing and new agency rights, focusing on the food and nutrition sectors, and seeking partnerships with specialty brands[97] - The company plans to expand its self-developed formula products and potential food ingredient brands and combinations[97] Financial Position - Sales costs for the reporting year were RMB 713.0 million, reflecting a 30.2% increase from the previous year's RMB 548.5 million[49] - Administrative expenses increased by approximately 9.5% to RMB 37.0 million, up from RMB 33.8 million in the previous year[57] - Financing costs rose to RMB 1.1 million from RMB 0.7 million, mainly due to an increase in short-term bank loans[60] - The company's cash and cash equivalents at year-end were RMB 134.9 million, down from RMB 223.4 million in the previous year[68] - The net cash used in operating activities for the reporting year was approximately RMB 17.2 million, primarily from a pre-tax profit of about RMB 108.2 million, after income tax payments of approximately RMB 19.8 million[69] - The net cash used in investing activities amounted to RMB 77.6 million, mainly due to an investment of approximately RMB 78.8 million in an associate company[70] - The net cash generated from financing activities was RMB 7.3 million, primarily attributed to new bank loans of approximately RMB 20.0 million[71] - Current assets totaled RMB 429.5 million as of December 31, 2021, compared to RMB 411.8 million in 2020, with a notable increase in trade receivables and prepayments[74] - The debt-to-asset ratio increased to 22.5% as of December 31, 2021, compared to 20.0% in the previous year[75] Investments and Acquisitions - The company acquired approximately 11.72% equity in Tianye Innovation for RMB 78.8 million, completed on February 4, 2021[85] - The investment in Tianye as of December 31, 2021, was RMB 97.2 million, representing about 18.2% of the company's total assets[88] - Tianye recorded revenue of RMB 218.9 million and net profit of RMB 38.7 million for the six months ending June 30, 2021[88] Corporate Governance - The board proposed a final dividend of HKD 0.0225 per share, totaling approximately HKD 15.3 million based on 680 million shares issued, an increase from HKD 0.015 per share in 2020[95] - The company has adopted a dividend policy that allows for annual dividends and special dividends, subject to shareholder approval and financial performance considerations[130] - The board of directors has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with specific responsibilities[131] - The Audit Committee consists of three independent non-executive directors, including Mr. Chan Wai-seng (Chairman), Mr. Chan Ka-kit, and Mr. Meng Yuecheng[136] - The company encourages all directors to participate in continuous professional development activities to enhance their knowledge and skills[124] - The board has implemented a diversity policy, considering various factors such as gender, age, cultural background, and professional experience in director appointments[125] - The company has a policy for the appointment and reappointment of directors, ensuring compliance with organizational bylaws[123] - The company confirmed its responsibility for preparing the consolidated financial statements in accordance with legal requirements and applicable accounting standards[157] Risk Management - The board confirmed that the risk management and internal control systems were adequate and effective as of the reporting year[155] - The internal control consultant is planning a comprehensive review of the group over three years, focusing on sales management, procurement management, and inventory management[152] - The company emphasizes that the risk management and internal control systems are designed to manage risks rather than eliminate them, providing reasonable assurance against significant misstatements or losses[155] - The group faces various risks, including reliance on key suppliers, which may significantly impact business performance due to supply shortages or delays[200] - Seasonal demand for the group's products is typically higher in the three to four months leading up to the Lunar New Year, potentially causing fluctuations in operational performance[200] - The food ingredients and additives business may be affected by increasingly stringent licensing regulations, environmental laws, and health standards, leading to increased operational costs[200] Shareholder Engagement - The company emphasizes the importance of investor relations, particularly in fair disclosure and comprehensive reporting of the company's performance and activities[163] - The company encourages shareholders to attend annual and special general meetings, with the next annual general meeting scheduled for May 18, 2022[165] - The company has a structured process for shareholders to submit inquiries and proposals for special meetings[166] Management Team - The board consists of experienced members, including the founder and executive director with over 28 years of experience in managing food ingredients and additives[174] - The executive director and CEO, who is also the founder's daughter, has been with the company since 2017 and holds a degree from the University of Toronto[175] - The company has a strong management team with over 30 years of experience in financial management, corporate finance, and strategic development[182] - The Chief Financial Officer, Mr. Wang Jinguo, has been with the company since March 2014 and is responsible for financial strategy and management[190] - The management team includes independent non-executive directors who provide oversight and independent opinions on the group's operations[183] Future Outlook - The company anticipates continued strong revenue growth despite global economic uncertainties, aiming to create value for shareholders[96] - The company aims to leverage its R&D capabilities to drive growth and market expansion in the food industry[196] - The business review and future development discussions are detailed in the annual report, specifically pages 4 to 14[198]
欣融国际(01587) - 2021 - 中期财报
2021-08-30 08:43
Financial Performance - The company recorded revenue of RMB 369.5 million for the six months ended June 30, 2021, representing a 33.1% increase from RMB 277.7 million in the same period last year[14]. - Profit for the period increased by RMB 34.8 million or 419.3% to RMB 43.1 million, compared to RMB 8.3 million in the previous year[14]. - Basic earnings per share rose to RMB 0.06, up from RMB 0.01 in the previous year, an increase of RMB 0.05[14]. - Revenue for the first half of 2021 reached RMB 369.5 million, an increase of 33.0% compared to RMB 277.7 million in the same period of 2020[28]. - Gross profit rose by RMB 29.9 million to RMB 69.5 million, with a gross margin increase to 18.8% from 14.3% in the previous year[30]. - Profit before tax from continuing operations increased to RMB 55,764,000, a significant rise from RMB 11,819,000 in the previous year, marking a 371% increase[77]. - Net profit for the period was RMB 43,077,000, compared to RMB 8,292,000 in the prior year, reflecting a 419% growth[77]. - Total comprehensive income for the period was RMB 42,911,000, compared to RMB 8,713,000 in the previous year, indicating a 392% increase[80]. Business Development - The growth was primarily driven by the recovery of the Chinese economy, the company's comprehensive one-stop food raw material solutions, and stable development across all major business segments[15]. - The company established six new subsidiaries in China to enhance market penetration and expand product sales and distribution coverage[16]. - Four new agency rights were obtained in 2021, focusing on the food service and nutrition sectors, including exclusive rights for various food additive products from South Korea's Samyang and Cargill's food raw materials[19]. - The company plans to continue increasing product sales through existing and new agency rights, targeting unique brand collaborations[23]. - Future development plans include enhancing proprietary brand strength through self-developed formulas and potential food raw materials[23]. - The company aims to explore strategic investment opportunities and seek acquisitions of quality target businesses and assets to create synergies[24]. Financial Position - The company's cash and cash equivalents decreased to RMB 143.4 million from RMB 223.4 million, primarily due to investments in joint ventures[48]. - The debt-to-asset ratio increased to 23.1% from 20.0% as of December 31, 2020, reflecting the increase in borrowings[48]. - Non-current assets totaled RMB 103,067,000 as of June 30, 2021, compared to RMB 9,762,000 at the end of 2020[83]. - Current assets decreased to RMB 380,179,000 from RMB 411,811,000 at the end of 2020, a decline of 8%[83]. - Total liabilities increased to RMB 107,653,000 from RMB 78,546,000 at the end of 2020, representing a 37% increase[83]. - The company's equity attributable to owners of the parent was RMB 371,705,000, up from RMB 337,281,000 at the end of 2020, reflecting a growth of 10%[86]. Cash Flow and Investments - The company experienced a net cash outflow from operating activities of RMB 19,704,000 for the first half of 2021, compared to a net inflow of RMB 20,066,000 in the same period of 2020[95]. - Cash and cash equivalents at the end of June 30, 2021, were RMB 143,381,000, down from RMB 198,539,000 at the end of June 30, 2020, reflecting a decrease of approximately 28%[98]. - The company incurred a cash outflow of RMB 78,239,000 from investing activities in the first half of 2021, compared to a cash inflow of RMB 1,513,000 in the same period of 2020[98]. - New bank loans amounted to RMB 20,000,000 during the first half of 2021, contributing to a net cash inflow from financing activities of RMB 18,122,000[98]. Corporate Governance - The board does not recommend any dividend payment for the review period, considering the overall operating performance and financial condition[73]. - The company has adopted a share option scheme to incentivize and reward eligible participants for their contributions[63]. - The audit committee has reviewed the interim performance and confirmed compliance with applicable accounting standards and listing rules[75]. - The company maintains high standards of corporate governance to protect shareholder interests and enhance accountability[69]. Operational Challenges - Despite challenges from COVID-19, the company remains confident in achieving strong revenue growth and creating value for shareholders[22]. - The company reported a trade receivables impairment of RMB 422 thousand as of June 30, 2021, significantly reduced from RMB 1,539 thousand as of December 31, 2020, indicating improved credit control[148]. - The company maintained a strict control over overdue balances in trade receivables to minimize credit risk, with management regularly reviewing overdue amounts[148].