Financial Performance - The total revenue for the first half of fiscal year 2025 amounted to RMB3,156.4 million, an increase of 5.0% or RMB150.5 million compared to RMB3,005.9 million for the first half of fiscal year 2024[4]. - The gross profit for the first half of fiscal year 2025 was RMB2,056.2 million, reflecting a 5.0% increase or RMB97.0 million from RMB1,959.2 million in the previous year, with a slight decrease in gross profit margin to 65.1%[4]. - The net profit for the first half of fiscal year 2025 reached RMB604.0 million, up 5.5% or RMB31.4 million from RMB572.6 million in the first half of fiscal year 2024[5]. - Operating profit for the first half of fiscal year 2025 was RMB826.3 million, an increase from RMB801.6 million in the previous year[8]. - Total comprehensive income for the period was RMB612.7 million, compared to RMB575.6 million in the first half of fiscal year 2024[10]. - Basic earnings per share increased to RMB1.17 from RMB1.13 in the previous year[10]. - Segment operating profit for the six months ended December 31, 2024, was RMB 1,152,918,000, compared to RMB 1,094,318,000 in 2023, reflecting an increase of about 5.3%[78]. - For the six months ended December 31, 2024, profit attributable to shareholders increased to RMB 599,547,000, up from RMB 572,598,000 in the same period of 2023, representing a growth of approximately 4.7%[97]. - The basic earnings per share for the six months ended December 31, 2024, was RMB 1.17, compared to RMB 1.13 for the same period in 2023, reflecting an increase of 3.5%[97]. - The diluted earnings per share for the six months ended December 31, 2024, was RMB 1.16, up from RMB 1.11 in the previous year, indicating a growth of 4.5%[100]. Cash Flow and Dividends - Net cash inflow from operating activities decreased by 22.2% to RMB822.6 million, down RMB234.8 million from RMB1,057.4 million in the previous year[5]. - The company paid dividends amounting to RMB411,973,000 during the period, an increase from RMB322,591,000 in the previous year[24]. - Cash generated from operations decreased to RMB965,209,000 compared to RMB1,185,509,000 in the same period of 2023, leading to a net cash generated from operating activities of RMB822,603,000[22]. - The cash and cash equivalents at the end of the period stood at RMB739,701,000, down from RMB1,095,046,000 at the end of December 2023[24]. - A final dividend of RMB411,973,000 was paid during the six months ended December 31, 2024, compared to RMB322,591,350 in the same period of 2023, marking an increase of approximately 27.7%[101]. Expenses and Costs - Selling and marketing expenses rose to RMB1,020.7 million, compared to RMB939.7 million in the first half of fiscal year 2024[8]. - Administrative expenses increased to RMB271.7 million from RMB246.0 million in the previous year[8]. - Employee benefit expenses increased to RMB276,920,000 in 2024 from RMB234,790,000 in 2023, marking a rise of about 17.9%[79]. - Promotion and marketing expenses rose to RMB262,399,000 in 2024, up from RMB191,781,000 in 2023, indicating an increase of approximately 36.8%[79]. - Total cost of sales, selling and marketing expenses, and administrative expenses for the six months ended December 31, 2024, was RMB2,389,014,000, up from RMB2,236,380,000 in 2023, reflecting an increase of about 6.8%[79]. Assets and Liabilities - Total assets increased to RMB5,095,737,000 as of December 31, 2024, up from RMB4,446,855,000 as of June 30, 2024, representing a growth of 14.6%[12]. - Current assets rose to RMB3,286,740,000, a significant increase of 24.6% from RMB2,638,040,000 reported on June 30, 2024[12]. - Total liabilities reached RMB2,641,050,000, an increase of 18.0% from RMB2,236,682,000[14]. - Net assets grew to RMB2,454,687,000, reflecting an increase of 11.0% from RMB2,210,173,000[14]. - Total equity attributable to shareholders of the Company rose to RMB2,407,922,000, up from RMB2,167,842,000, a growth of 11.1%[14]. - Trade receivables surged to RMB240,832,000 as of December 31, 2024, up from RMB143,928,000 as of June 30, 2024, indicating a significant increase of 67%[125]. - Finished goods inventory increased to RMB1,381,799,000 as of December 31, 2024, from RMB1,087,834,000 as of June 30, 2024, reflecting a growth of 27%[122]. - Trade payables increased to RMB400,545,000 from RMB260,533,000 as of June 30, 2024, representing a 53.7% increase[163]. Financial Risks and Management - The Group faces various financial risks, including market risk, credit risk, and liquidity risk[44]. - The financial risk management policies have not changed since June 30, 2024[50]. - Fair value estimation for financial instruments is based on quoted market prices for those traded in active markets[52]. - The Group's financial instruments include primarily equity investments classified as trading securities or financial assets at fair value through profit or loss[52]. Acquisitions and Business Combinations - The company completed a business combination under common control, resulting in a consideration paid of RMB1,672,000[24]. - The Group completed the acquisition of Hangzhou OōEli Brand Management Co., Ltd. for a cash consideration of RMB1,672,000 in November 2024[179]. - The acquisition of OōEli was accounted for using merger accounting, with no goodwill recognized due to common control[180]. - The revenue for the Group was restated to RMB3,005,941, reflecting an increase of RMB30,399 due to the business combination[188]. - Gross profit was adjusted to RMB1,959,212, with an increase of RMB11,478 from previous reports[188]. Accounting Standards and Compliance - The interim financial information for the six months ending December 31, 2024, is prepared in accordance with Hong Kong Accounting Standards[34]. - There are no new accounting standards expected to have a material impact on the Group for the interim period beginning July 1, 2024[41]. - The Group's significant judgements and estimates in preparing interim financial information are consistent with those applied in the consolidated financial statements for the year ended June 30, 2024[43].
江南布衣(03306) - 2025 - 中期业绩