Financial Performance - Revenue for the six months ended June 30, 2024, reached RMB 745,396,000, representing a 61.6% increase compared to RMB 461,363,000 for the same period in 2023[7]. - Gross profit for the same period was RMB 117,254,000, up 39.3% from RMB 84,196,000 in the previous year[7]. - Adjusted EBITDA for the six months ended June 30, 2024, was RMB 56,592,000, reflecting a 42.1% increase from RMB 39,834,000 in 2023[7]. - Profit attributable to owners of the Company for the period was RMB 29,958,000, a 3.5% increase from RMB 28,943,000 in the prior year[7]. - For the six months ended June 30, 2024, the Group recorded revenue of RMB 745,396,000, a year-on-year increase of 61.6% compared to RMB 461,363,000 for the same period in 2023[10]. - The net profit for the Review Period was RMB 29,958,000, representing a year-on-year increase of 3.5% from RMB 28,943,000[10]. - Adjusted net profit was RMB 56,592,000, a year-on-year increase of 42.1% from RMB 39,834,000[13]. - The number of core customers increased to 73 from 50 in the corresponding period last year, with sales to core customers amounting to RMB 657,356,000, a 44.3% increase[14]. - The overall gross profit margin decreased to 15.7% during the Review Period, down from 18.2% for the corresponding period last year[41]. - The gross profit margin for first-mile services was negative at 1.1%, down from 4.1% in the previous year, primarily due to increased ocean freight rates[42]. - The gross profit margin for last-mile services decreased to 18.8% from 21.4% in the corresponding period last year[42]. Revenue Breakdown - Revenue from first-mile international freight services was RMB 115,560,000, representing a year-on-year increase of 36.5% from RMB 84,657,000[10]. - Revenue from last-mile fulfillment services amounted to RMB 629,836,000, reflecting a year-on-year increase of 67.2% compared to RMB 376,706,000[10]. - Revenue generated from SaaS services during the Review Period was RMB 168,000[14]. - Revenue from the United States was RMB 516,775,000, representing a 71.1% increase from RMB 302,119,000 in the prior year[155]. - The Group's revenue from external customers in China was RMB 115,560,000, an increase of 36.4% from RMB 84,657,000 in the previous year[155]. - The geographical revenue breakdown shows that Canada generated RMB 38,361,000, a decrease of 8.3% from RMB 41,937,000 in the previous year[155]. Logistics and Operations - The Group contracted 56 overseas warehouses across the United States, Canada, the United Kingdom, Germany, and Australia, with 46 being partnered warehouses, making it one of the largest networks among peers[4]. - The Group operates four storage facilities in Guangzhou, Shenzhen, Shanghai, and Qingdao, serving as temporary stock storage before international freight[4]. - The Group's logistics solutions encompass cross-border logistics, overseas warehousing, and fulfillment delivery services, aimed at empowering the B2C export e-commerce industry in China[6]. - The Group successfully integrated its EDA Cloud platform with the TEMU system, becoming an official warehouse for TEMU[9]. - The Group added 6 new overseas warehouses in the first half of 2024, expanding its global logistics network[25]. - The Group has contracted 56 overseas warehouses in major cross-border e-commerce markets, enhancing its logistics capabilities[27]. Financial Position - The Group's total debts were RMB 306,623,000, with a healthy gearing ratio of 47.5% as of June 30, 2024[46]. - The Group's total equity increased from RMB 324,044,000 as of December 31, 2023, to RMB 550,273,000 as of June 30, 2024[46]. - The current ratio improved from 1.6 as of December 31, 2023, to 2.1 as of June 30, 2024[46]. - Cash and bank deposits, including restricted cash, amounted to RMB 322.4 million, providing sufficient working capital for operations and future development[47]. - The Group's employee costs, including share-based payment expenses, amounted to RMB 133,390,000 during the Review Period, with a total of 312 employees[51]. - The Group has no pledges on assets as of June 30, 2024, maintaining a strong financial position[55]. Shareholder Information - As of June 30, 2024, Liu Yong holds a total of 167,709,000 shares, representing 38.1% of the Company[72]. - Li Qin holds 13,198,000 shares, accounting for 3.0% of the Company[72]. - Cheung Man Yu has a total interest of 180,974,000 shares, which is 41.2% of the Company[72]. - The Company has complied with all applicable provisions of the Corporate Governance Code from the Listing Date to June 30, 2024[68]. - The Company emphasizes a culture of integrity and compliance, implementing anti-corruption training for employees[67]. Future Plans and Investments - The Group plans to invest in AI, machine learning, and IoT technologies to enhance the digital capabilities of its EDA Cloud platform[30]. - The Group aims to expand its markets in the PRC and globally, enhancing its global logistics network to capture more market share in the B2C export e-commerce supply chain solutions industry[58]. - The Company will continue to grow through self-development, mergers and acquisitions, and other means, with adequate bank credit lines available for financing capital expenditures[58]. - The company plans to enhance its global logistics network through an asset-light model, targeting a 62% improvement by May 31, 2027[114]. Dividend and Share Options - An interim dividend of HK$3.5 cents per share has been declared for the six months ended June 30, 2024, expected to be distributed on or about October 31, 2024[116]. - The Company adopted a Pre-IPO Share Option Scheme on May 14, 2024, granting a total of 31,212,000 shares, representing 7.09% of the issued share capital[86]. - The total number of shares that may be issued under the Post-IPO Share Option Scheme is 21,997,000, representing 5% of the issued share capital of the company as of the report date[99]. Taxation and Compliance - The Group's income tax provision for the six months ended June 30, 2024, includes a total tax charge of RMB 6,866,000, compared to RMB 5,972,000 for the same period in 2023, representing an increase of approximately 15%[174]. - The Group's PRC subsidiaries qualified for a preferential corporate income tax rate of 15% for the six months ended June 30, 2024, compared to the standard rate of 25%[172]. - The Group's subsidiaries in the United States were subject to a federal tax rate of 21% and state tax rates ranging from 8.8% to 11.5% during the reporting period[172].
EDA集团控股(02505) - 2024 - 中期财报