Financial Performance - For the six months ended June 30, 2024, the group's revenue was RMB 12,405,000, a decrease of 20.5% compared to RMB 15,677,000 for the same period in 2023[25] - The group's gross profit for the same period was RMB 7,453,000, resulting in a gross margin of approximately 60%[25] - The net profit attributable to the owners of the company for the six months was RMB 687,000, compared to a loss of RMB 169,000 in the same period last year[25] - The basic and diluted loss per share for the period was RMB 0.09, an improvement from a loss of RMB 0.02 per share in the previous year[25] - The total operating expenses decreased to RMB 6,003,000 from RMB 8,236,000, reflecting a reduction of 27% year-on-year[25] - The company incurred a total comprehensive loss of RMB (479,000) for the period, compared to a loss of RMB (169,000) in 2023[30] - Revenue decreased by approximately RMB 3.3 million or 20.9% to approximately RMB 12.4 million for the six months ended June 30, 2024, compared to approximately RMB 15.7 million for the same period in 2023[71] Revenue Breakdown - Revenue from event management services was RMB 5,236,000, down 17.4% from RMB 6,336,000 in 2023[41] - Revenue from design and production services was RMB 7,169,000, a decrease of 23.2% compared to RMB 9,341,000 in 2023[41] Cash Flow and Assets - The net cash used in operating activities for the six months ended June 30, 2024, was RMB (6,609,000), compared to RMB (6,404,000) in 2023[32] - Cash and cash equivalents at the end of the period were RMB 99,804,000, slightly up from RMB 99,519,000 at the beginning of the period[32] - Total non-current assets increased to RMB 1,114,000 from RMB 913,000 in 2023, reflecting a growth of 22%[28] - Current liabilities decreased to RMB 23,115,000 from RMB 18,182,000, indicating a reduction of 16.5%[28] - The company reported a total equity of RMB 88,062,000, an increase from RMB 87,448,000 in 2023[30] Trade Receivables and Payables - Trade receivables increased to RMB 8,473,000 as of June 30, 2024, up from RMB 4,460,000 in 2023, reflecting a growth of approximately 90%[56] - The total trade and other payables decreased to RMB 10,817,000 as of June 30, 2024, down from RMB 12,986,000 in 2023, representing a decline of approximately 16.9%[60] - The company’s net trade receivables amounted to RMB 7,194,000 as of June 30, 2024, compared to RMB 3,784,000 in 2023, reflecting an increase of approximately 90%[56] Employee and Operational Costs - Employee benefits expenses decreased by approximately RMB 2.3 million or 35.4% to approximately RMB 4.3 million for the six months ended June 30, 2024, due to a reduction in the number of employees[73] - The company employed 45 staff members as of June 30, 2024, down from 69 staff members a year earlier, with total employee costs of approximately RMB 4.3 million[90] - The company incurred project costs of RMB 4,952,000 for the six months ended June 30, 2024, down from RMB 6,651,000 in 2023, indicating a reduction of about 25.5%[45] Future Plans and Developments - The company plans to incorporate digital and interactive elements such as AI, web3, VR, AR, and gamification into its services, aiming to host a series of virtual reality exhibitions[69] - The company has identified new opportunities in the clean energy sector, although potential projects are still under negotiation and have not yet commenced[69] - The company plans to establish new branches in Wuxi and Beijing, hiring a total of 33 additional employees, including 3 business managers and 17 event management/design personnel[96] - The company will continue to evaluate the timing for expanding its operations in Beijing due to slow domestic demand recovery[97] - The company has already hired a general manager and additional staff to enhance its multimedia production and design capabilities, with plans to recruit 10 more employees[101] Shareholder Information - Major shareholder QY holds 420,000,000 shares, representing 52.5% of the company's equity[128] - Zero Carbon Technology (Asia) Holdings Limited, controlled by Mr. Zhang, holds 81,000,000 shares, accounting for 10.13% of the equity[129] Corporate Governance - The company has complied with all applicable codes of corporate governance as per GEM listing rules[136] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2024, confirming compliance with applicable accounting standards[140] Dividends and Recommendations - The company did not recommend any dividend payments for the six months ended June 30, 2024, consistent with the previous year[50] - The board does not recommend any dividend payment for the six months ended June 30, 2024, consistent with the previous year[91]
旅橙文化(08627) - 2024 - 中期业绩