Financial Performance - In the first half of 2024, the Group achieved total revenue of approximately RMB1,462.1 million, representing an increase of approximately 6.3% compared to RMB1,375.3 million in the same period of 2023[12]. - Gross profit for the same period was approximately RMB1,080.9 million, reflecting an increase of approximately 8.0% from RMB1,001.3 million in the prior year[12]. - Net profit attributable to shareholders was approximately RMB91.4 million, a significant increase of approximately 789.1% compared to RMB10.3 million in the same period of 2023[12]. - Revenue from third-party e-commerce platforms reached approximately RMB1,440.8 million, marking an increase of approximately 10.5% from RMB1,304.0 million in the previous year[15]. - Revenue from North America was approximately RMB1,396.9 million, representing an increase of approximately 8.6% compared to RMB1,286.5 million in the same period of 2023[20]. - Profit before income tax increased by approximately 775.9% to approximately RMB93.3 million for the Reporting Period from approximately RMB10.7 million for the six months ended 30 June 2023, with profit before income tax as a percentage of revenue increasing to approximately 6.4% from 0.8%[41]. - The Group recorded a profit and total comprehensive income attributable to shareholders of approximately RMB91.4 million for the Reporting Period, representing an increase of approximately 789.1% compared to approximately RMB10.3 million for the six months ended 30 June 2023[47][49]. - Basic and diluted earnings per share rose to RMB 0.18, compared to RMB 0.02 for the same period in 2023[98]. Cost and Expenses - The cost of sales for the Group was approximately RMB381.2 million, an increase of approximately 1.9% from RMB374.0 million in the same period of 2023, primarily due to increased sales volume[23]. - Selling expenses and distribution costs amounted to approximately RMB941.7 million, an increase of approximately RMB17.8 million or 1.9% compared to RMB923.9 million in the same period of 2023, mainly due to increased marketing and advertising expenses[33]. - General and administrative expenses decreased to approximately RMB57.8 million, a reduction of approximately RMB15.3 million or 21.0% compared to RMB73.1 million in the same period of 2023, primarily due to decreased employee benefits expenses[36]. - Finance costs amounted to approximately RMB4.4 million, a decrease of RMB0.8 million compared to approximately RMB5.2 million for the six months ended 30 June 2023, mainly due to reduced interest expenses for lease liabilities[40]. Cash Flow and Liquidity - As of 30 June 2024, the Group had cash and cash equivalents of approximately RMB371.7 million, an increase from approximately RMB277.5 million as of 31 December 2023[51][53]. - Cash generated from operations for the six months ended June 30, 2024, was RMB 126,261, an increase of 68.5% compared to RMB 74,881 for the same period in 2023[108]. - Net cash generated from operating activities reached RMB 130,116, up from RMB 57,332, reflecting a significant growth of 126.5% year-over-year[108]. - The total unutilized amount of net proceeds as of June 30, 2024, is HK86.4 million at the end of 2023[91]. Shareholder Information - As of June 30, 2024, Mr. Hua Bingru holds 236,056,036 shares, representing approximately 47.21% of the shareholding[68]. - The total number of shares issued by the company is 500,000,000[70]. - The Company does not hold any treasury shares as of June 30, 2024[80]. - The Board does not recommend the payment of interim dividend for the reporting period, consistent with the previous period where no dividend was paid[80]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to safeguard shareholder interests and enhance corporate value[80]. - The Company has adopted the Model Code for securities transactions by Directors, with all Directors confirming compliance during the Reporting Period[82]. - The Company continues to monitor and review its corporate governance practices to maintain high standards[82]. Organizational Changes and Strategy - The board of directors includes Mr. Hua Bingru as Chairman and Mr. Chen Caixiong as Chief Executive Officer, with a recent change in executive roles[5]. - The Group has established a TikTok live broadcast team to explore new business models and optimize revenue structure[10]. - The Group's operational strategies included organizational changes, efficiency enhancements, and inventory structure optimization[14]. - The company plans to actively explore diversified sales channels while consolidating existing cooperation platforms to achieve broader coverage and sales synergies[63]. Market Outlook - The company remains optimistic about the recovery and development of the global economy despite a complex macroeconomic environment[64].
子不语(02420) - 2024 - 中期业绩