Financial Performance - The Group reported revenue of approximately RMB 84,162,000 for the six months ended 30 June 2024, representing an increase of approximately 231% compared to approximately RMB 25,447,000 for the corresponding period in 2023[6]. - Profit attributable to owners of the Company for the six months ended 30 June 2024 amounted to approximately RMB 27,582,000, compared to RMB 14,009,000 for the same period in 2023[9]. - Total comprehensive income for the period attributable to owners of the Company was RMB 27,639,000, compared to RMB 13,953,000 for the same period in 2023[9]. - The Group's profit before income tax for the six months ended 30 June 2024 was RMB 27,577,000[9]. - The company reported a total comprehensive income for the period of RMB 27,582,000, compared to RMB 14,009,000 in the previous year, reflecting an increase of about 96.5%[15]. - Profit before income tax expense for the six months ended June 30, 2024, was RMB 27,582,000, compared to RMB 14,009,000 in 2023, indicating a growth of 97%[70]. Earnings and Dividends - Basic earnings per share for the six months ended 30 June 2024 were RMB 32.79 cents, down from RMB 37.86 cents for the same period in 2023[9]. - The Board did not declare any interim dividend for the six months ended 30 June 2024, consistent with the previous year[6]. - The Group's income tax expense for the current period included RMB 10,520,000 for PRC Enterprise Income Tax and RMB 4,987,000 for Hong Kong Profits Tax[61]. - The Group did not declare any dividends for the six months ended June 30, 2024, consistent with the previous year[66]. Expenses and Costs - Employee benefit expenses for the six months ended 30 June 2024 were RMB 39,589,000[8]. - Other administrative expenses for the same period were RMB 38,097,000[8]. - Other administrative and employee benefit expenses increased by approximately 366% to approximately RMB 41,869,000, primarily due to increased marketing and advertising fees[99]. - Interest expenses decreased by approximately 21% to RMB 83,000 from RMB 105,000 for the corresponding period last year[98]. - The Group's salaries and wages for the six months ended June 30, 2024, were RMB 2,092,000, down from RMB 3,094,000 in 2023, a decrease of 32%[57]. Assets and Liabilities - As of June 30, 2024, total current assets increased to RMB 174,413,000 from RMB 97,239,000 as of December 31, 2023, representing an increase of approximately 79.4%[11]. - Loans and accounts receivables rose significantly to RMB 151,122,000, up from RMB 73,116,000, marking an increase of about 106.5%[11]. - Net current assets improved to RMB 85,481,000, compared to RMB 53,777,000 at the end of 2023, reflecting a growth of approximately 58.9%[13]. - Total equity attributable to owners of the Company increased to RMB 86,773,000 from RMB 55,075,000, indicating a rise of around 57.6%[13]. - Non-current liabilities increased to RMB 89,912,000 from RMB 58,905,000, representing a rise of approximately 52.7%[13]. - The Group's loans and accounts receivables amounted to RMB 160,305,000, a significant increase from RMB 77,940,000 as of December 31, 2023, representing a growth of approximately 105.5%[78]. Cash Flow and Financing - The net cash used in operating activities was RMB (1,101,000), an improvement from RMB (6,373,000) in the same period of 2023[17]. - Cash and cash equivalents at the end of the period stood at RMB 19,202,000, up from RMB 16,561,000 at the beginning of the period, showing an increase of approximately 9.9%[17]. - The company generated RMB 4,008,000 from financing activities, a decrease from RMB 23,552,000 in the previous year[17]. - The cash flow from investing activities was RMB 142,000, a significant recovery from RMB (3,000) in the same period last year[17]. - The Group had no borrowings as of June 30, 2024, maintaining a gearing ratio of 0%, compared to 1.5% on December 31, 2023[102]. Share Capital and Rights Issue - The total number of subscription shares issued was 14,134,143, representing approximately 16.67% of the issued share capital after the completion of the subscription[76]. - The subscription price for the new shares was set at HK63.6 million before expenses, with net proceeds estimated to be around HK0.25 each, on the basis of three Rights Shares for every one Share held by Qualifying Shareholders[104]. - The Company issued 84,804,860 shares at HK$0.01 each, with a capital value of approximately RMB 740,000 as of June 30, 2024[118]. Corporate Governance and Compliance - The audit committee reviewed the unaudited condensed consolidated results for the six months ended June 30, 2024, ensuring compliance with applicable accounting standards and GEM Listing Rules[153]. - The Board believes the Company has met the code provisions set out in the Corporate Governance Code as per the GEM Listing Rules[149]. - The company has adopted a code of conduct for securities transactions by directors that meets the standards set out in the GEM Listing Rules[152]. - The company is committed to adhering to the corporate governance code as outlined in the GEM Listing Rules[150]. Future Outlook and Strategy - The Group is optimistic about its business planning for 2024, focusing on risk management and enhancing profitability and efficiency[109]. - For the second half of 2024, the Group aims to strengthen its competitiveness and develop its financial platform amid advancements in the financial business in Mainland China[109]. - The Group intends to develop a comprehensive product integrating mobile apps and decentralized security hardware[109]. - The strategy focuses on expanding in high-growth sectors while maintaining a presence in slower growth areas[110].
汇联金融服务(08030) - 2024 - 中期财报