Financial Performance - Revenue decreased by approximately RMB 91.5 million or about 7.3% to approximately RMB 1,159 million for the six months ended June 30, 2024[6]. - Gross profit margin decreased by approximately 0.3 percentage points to about 12.3%[6]. - Profit for the period increased by approximately RMB 6.4 million or about 18.5% to approximately RMB 40.9 million compared to RMB 34.5 million in the first half of 2023[6]. - Net profit margin increased from approximately 2.8% in the first half of 2023 to approximately 3.5% in the first half of 2024[6]. - Earnings per share increased from RMB 1.93 to RMB 2.28[6]. - Total comprehensive income for the period amounted to RMB 40.876 million[14]. - The group reported total revenue of RMB 1,159,039 thousand for the six months ended June 30, 2024, compared to RMB 1,250,560 thousand for the same period in 2023, reflecting a decrease of approximately 7.3%[32]. - The gross profit for the group was RMB 142,219 thousand for the six months ended June 30, 2024, down from RMB 157,394 thousand in the same period of 2023, indicating a decline of about 9.6%[32][34]. - The group’s net profit for the period was RMB 40,876 thousand, compared to RMB 34,489 thousand for the same period in 2023, representing an increase of approximately 18.5%[32][34]. - Other income increased to RMB 16,482 thousand for the six months ended June 30, 2024, up from RMB 8,440 thousand in the same period of 2023, marking a significant increase of 95.5%[38]. Expenses and Costs - Administrative expenses increased to RMB 25.825 million from RMB 21.109 million[14]. - Research and development costs were RMB 28.977 million[14]. - Financing costs amounted to RMB 25.055 million[14]. - The group’s research and development costs amounted to RMB 28,977 thousand for the six months ended June 30, 2024, compared to RMB 23,713 thousand in the same period of 2023, reflecting an increase of approximately 22.0%[32][34]. - The group’s financing costs were RMB 25,055 thousand for the six months ended June 30, 2024, compared to RMB 27,520 thousand in the same period of 2023, showing a decrease of about 8.9%[32][34]. - The company recognized a deferred tax expense of RMB 9,862,000 for the six months ended June 30, 2024, compared to RMB 9,007,000 for the same period in 2023[41]. - The depreciation of property, plant, and equipment was RMB 8,848,000 for the six months ended June 30, 2024, down from RMB 10,222,000 for the same period in 2023, indicating a decrease of approximately 13.5%[40]. Assets and Liabilities - As of June 30, 2024, total assets amounted to RMB 5,454,754 thousand, a slight decrease from RMB 5,401,494 thousand as of December 31, 2023, reflecting a 1% decline[16]. - Current assets increased to RMB 5,082,319 thousand from RMB 5,021,369 thousand, representing a 1.2% growth[16]. - Total liabilities decreased slightly to RMB 1,868,482 thousand from RMB 1,857,548 thousand, a change of 0.6%[16]. - The company’s total equity rose to RMB 3,562,674 thousand from RMB 3,521,798 thousand, representing a 1.2% increase[16]. - The company’s cash and cash equivalents at the end of the period were RMB 589,318 thousand, up from RMB 549,358 thousand, reflecting a 7.3% increase[26]. - The total trade receivables balance as of June 30, 2024, was RMB 2,362,736,000, an increase from RMB 2,175,280,000 as of December 31, 2023, indicating a growth of approximately 8.6%[48]. - The net trade receivables aged over 365 days amounted to RMB 2,354,755,000 as of June 30, 2024, compared to RMB 2,175,134,000 as of December 31, 2023, showing an increase of approximately 8.2%[50]. Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2024, was RMB 409,350 thousand, up from RMB 255,673 thousand in the same period of 2023, indicating a 60% increase[26]. - The company reported a net cash inflow from investing activities of RMB 35,342 thousand, compared to RMB 25,326 thousand in the previous year, marking a 39.7% increase[26]. - The group’s expected credit loss model showed a loss of RMB 7,493 thousand for the six months ended June 30, 2024, compared to a loss of RMB 23,793 thousand in the same period of 2023, indicating an improvement in credit quality[32][34]. - Trade receivables impairment losses decreased by approximately RMB 16.3 million or 68.5% to RMB 7.5 million, reflecting better-than-expected recovery of trade receivables[82]. Market and Business Strategy - The company plans to continue expanding its market presence and investing in new product development, although specific figures were not disclosed[19]. - The company is actively pursuing 5G small base station transmission solutions to capture market opportunities as demand increases[62]. - The company is focusing on the development of 5G-Advanced (5G-A) technology, which will enhance network performance and create new business opportunities[61]. - The company is expanding its product offerings in millimeter-wave technology, developing new products to meet customer demands and strengthen its market position[61]. - The company plans to expand its overseas market presence, particularly in Japan and Malaysia, focusing on promoting millimeter-wave products[77]. - The company has won multiple centralized procurement projects, including a two-year project for power cable products from China Mobile, laying a solid foundation for future business growth[62]. - Revenue from major telecom operators accounted for approximately 52.7% from China Mobile, 21.2% from China Unicom, and 16.4% from China Telecom as of June 30, 2024[68]. Corporate Governance and Compliance - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2024[6]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules, with the chairman and CEO roles currently held by the same individual[98]. - The independent auditor conducted a review of the interim financial information for the six months ended June 30, 2024, in accordance with the Hong Kong Institute of Certified Public Accountants standards[125]. - The company established an audit committee responsible for reviewing and monitoring financial reporting procedures, internal controls, and risk management systems[125]. Employment and Human Resources - The company employed approximately 789 employees as of June 30, 2024, an increase from 721 employees on December 31, 2023[96]. - The company has invested in continuous education and training programs for its management and staff to enhance their skills and knowledge[96]. Research and Development - The company has a strong focus on R&D, investing heavily to enhance competitiveness in the telecom equipment sales sector[69]. - The company has obtained a total of 252 patents, including 108 invention patents and 144 utility model patents as of June 30, 2024[71].
俊知集团(01300) - 2024 - 中期财报