Financial Performance - Revenue for the six months ended December 31, 2024, was RMB 36.8 million, a decrease of 40.0% compared to RMB 61.3 million in the same period of 2023[3] - The company reported a pre-tax loss of RMB 17.8 million, which is an increase of 52.1% from a loss of RMB 11.7 million in the previous year[3] - The company recorded total revenue of approximately RMB 36,800,000 for the review period, a decrease of 40.0% compared to RMB 61,300,000 for the same period last year[13] - The fruit distribution business generated revenue of approximately RMB 7,900,000, a decline of 68.8% from RMB 25,400,000 in the previous year[16] - The air conditioning distribution business reported revenue of approximately RMB 26,900,000, down 25.1% from RMB 35,900,000 in the same period last year[17] - The company reported a loss attributable to owners of approximately RMB 14,500,000, an increase from RMB 11,800,000 in the previous year[23] - The company recorded a total comprehensive loss of RMB (14,328) thousand for the six months ended December 31, 2024, compared to a total comprehensive loss of RMB (12,618) thousand for the same period in 2023[51] - The group incurred a loss of RMB 17,825 thousand for the six months ended December 31, 2024, compared to a loss of RMB 11,814 thousand for the same period in 2023, indicating a worsening of approximately 50%[60] Assets and Liabilities - Total assets decreased by 8.2% to RMB 146.9 million as of December 31, 2024, down from RMB 160.1 million[4] - The company's total assets as of December 31, 2024, were RMB 146,895 thousand, down from RMB 160,068 thousand as of June 30, 2024[47] - The group’s total liabilities increased to RMB 24,651 thousand as of December 31, 2024, compared to RMB 23,087 thousand as of June 30, 2024, marking an increase of approximately 7%[60] - The company's current ratio and quick ratio as of December 31, 2024, are approximately 3.8 and 3.5, respectively, compared to 5.1 and 4.6 as of June 30, 2024[33] - The net asset liability ratio increased from approximately -3.5% as of June 30, 2024, to approximately 2.8% as of December 31, 2024, primarily due to a decrease in cash and cash equivalents[36] Cash Flow and Financing - Cash and cash equivalents fell by 53.6% to RMB 7.8 million from RMB 16.8 million[4] - The company reported a net cash outflow from operating activities of RMB (6,139) thousand for the six months ended December 31, 2024, compared to RMB (21,459) thousand for the same period in 2023, indicating an improvement in cash flow management[52] - The group had approximately RMB 11,200,000 in bank loans and other borrowings as of December 31, 2024, down from RMB 12,000,000 as of June 30, 2024[33] - The company raised RMB 2,940 thousand through non-controlling interest injections during the reporting period, contributing to its financing activities[52] - The group obtained financing of RMB 1,000,000 from a licensed lender in China, with an annual interest rate of 5.9%, to be repaid by September 23, 2024[102] Operational Strategy - The company plans to optimize its planting strategy to manage overall yield and crop production, focusing on high-value fruits[7] - The air conditioning distribution business, launched in late 2021, aims to diversify revenue sources and is currently in a development phase[7] - The company will continue to monitor macroeconomic conditions and adjust strategies for its planting and fruit distribution businesses to maintain competitiveness[11] - The company emphasizes the importance of operational efficiency and plans to expand into the commercial building market to enhance economies of scale[11] Employee and Management - Employee costs increased to approximately RMB 8,300,000, up by RMB 2,700,000 compared to RMB 5,600,000 in the same period last year[19] - The group has adopted a competitive compensation scheme to attract and retain talent, with 90 long-term employees as of December 31, 2024, up from 61 as of June 30, 2024[39] - The total remuneration for key management personnel for the six months ended December 31, 2024, was RMB 935,000, an increase from RMB 863,000 in the previous year[104] Risks and Challenges - The geopolitical tensions may continue to impact consumer confidence and economic activity in China, affecting the company's outlook[8] - The company faces risks from climate change and natural disasters that could significantly impact productivity and financial performance in its planting business[25] - The company faces various risks related to its cultivation, including regulatory, supply and demand, climate, and price risks, which are actively managed through regular reviews and market analysis[82][83][84][85] Shareholder and Capital Management - The board did not recommend the payment of an interim dividend for the six months ended December 31, 2023[29] - The company has no capital commitments as of December 31, 2024[37] - The company underwent a capital reorganization, reducing the total issued shares from 2,980,105,859 to 14,900,529 through a share consolidation[94] - The company's capital management strategy remains consistent with the previous year, focusing on maximizing shareholder value[97] Compliance and Governance - The company has adopted the corporate governance code as per the listing rules and has complied with all provisions of the code[121][122] - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing the company's financial controls and risk management systems[126]
亚洲果业(00073) - 2025 - 中期财报