Revenue Performance - Revenue from the medication distribution business declined by approximately 69.6% to approximately RMB83.9 million, accounting for only approximately 3.5% of the Group's consolidated revenue during the Reporting Period[7]. - The core business, including Specialty Pharmacy Business, Physician Research Assistance Business, and Health Insurance Services Business, generated revenue of approximately RMB2,280.0 million, representing an increase of approximately 5.5%[7]. - Revenue from Enterprise Health Insurance increased by approximately 43.6%, with over 933,000 individual members insured as of June 30, 2024[8]. - Revenue from the specialty pharmacy business was RMB 2,363,780, a decrease of 3.0% compared to RMB 2,437,956 in the same period last year[11]. - Revenue from the Physician Research Assistance business increased by approximately 9.9% to approximately RMB187.37 million for the six months ended June 30, 2024, driven by growing market demand[20]. - Revenue from Health Insurance Services increased by approximately 0.9% to approximately RMB109.65 million for the six months ended June 30, 2024[21]. - Revenue from Enterprise Health Insurance surged by approximately 43.6% to approximately RMB38.8 million for the six months ended June 30, 2024, due to a significant increase in the number of customers and insured members[21]. Financial Performance - The adjusted loss for the Reporting Period narrowed by approximately 47.4% to approximately RMB29.7 million, attributed to organic growth and efficiency improvements[9]. - The adjusted loss for the reporting period narrowed by about 47.4% to approximately RMB 29.7 million, primarily due to organic growth and efficiency improvements[10]. - Total gross profit was approximately RMB228.93 million, representing a period-on-period increase of approximately 5.0%, primarily due to a 21.6% increase in gross profit from the Physician Research Assistance business[24]. - Total gross margin increased by approximately 0.8 percentage points to approximately 9.7% for the Reporting Period[24]. - The Group's cost of sales decreased by approximately 3.8% from approximately RMB2,219.87 million for the six months ended June 30, 2023, to approximately RMB2,134.85 million for the six months ended June 30, 2024[22]. - The Group's loss before tax for the six months ended June 30, 2024, was RMB 75,159, compared to a loss of RMB 86,698 for the same period in 2023, indicating an improvement[132]. - The loss attributable to ordinary equity holders of the parent for the six months ended June 30, 2024, was RMB (78,202), compared to RMB (92,321) for the same period in 2023, indicating an improvement[159]. - The basic loss per share for the six months ended June 30, 2024, was RMB (0.12), compared to RMB (0.14) for the same period in 2023, reflecting a reduction in loss per share[159]. Cost Management - Selling and marketing expenses decreased by 10.4% to RMB 135,219, representing 5.7% of total revenue[11]. - Research and development expenses were reduced by 35.6% to RMB 14,315, accounting for 0.6% of total revenue[11]. - Selling and marketing expenses decreased by approximately 9.4% to approximately RMB137.82 million, mainly due to efficiency improvement initiatives[25]. - Administrative expenses decreased by approximately 7.7% to approximately RMB161.89 million, resulting from organizational optimization[27]. - Research and development expenses decreased significantly by approximately 37.1% to approximately RMB15.01 million, due to reduced upfront research and development investment[28]. Assets and Liabilities - As of June 30, 2024, the company recorded net current assets of approximately RMB1,120 million, with a gearing ratio of approximately 48.2%, up from 42.1% as of December 31, 2023[38]. - The company had cash and cash equivalents amounting to approximately RMB279.38 million as of June 30, 2024, with total financial assets at fair value through profit or loss amounting to approximately RMB1,338.73 million[38]. - The Group had no material contingent liabilities as of June 30, 2024[48]. - Total current assets increased to RMB 2,485,752 as of June 30, 2024, compared to RMB 2,442,474 at the end of 2023[104]. - Total non-current assets rose to RMB 430,895 as of June 30, 2024, up from RMB 372,566 at the end of 2023[104]. - Total equity attributable to owners of the parent was RMB 1,496,483 as of June 30, 2024, down from RMB 1,618,859 at the end of 2023[106]. Shareholder Information - As of June 30, 2024, the company had issued a total of 762,690,714 shares[60]. - Mr. Ma and Mr. Li each hold 97,000,000 shares, representing approximately 12.72% of the company's equity[66]. - Tencent Mobility holds 168,266,382 shares, representing approximately 22.06% of the company's total shares[67]. - The company continues to expand its shareholder base with significant interests from various investment firms[67]. - The company has a concert party agreement involving Mr. Ma and Mr. Li, confirming their joint management and decision-making[60]. Corporate Governance - The Company has complied with all applicable code provisions of the Corporate Governance Code during the reporting period, with some deviations noted[54]. - The roles of Chairman and Chief Executive Officer are held by the same individual, Mr. Ma Xuguang, which the Board believes does not impair the balance of power[54]. - The Company has adopted the Model Code for directors' securities transactions and all directors have confirmed compliance during the reporting period[56]. Related Party Transactions - The company has engaged in significant related party transactions, including sales and purchases with Tencent and its subsidiaries, reflecting ongoing strategic partnerships[199]. - The financial data indicates a mixed performance in related party transactions, with some areas showing growth while others experienced declines[197].
思派健康(00314) - 2024 - 中期财报