Financial Performance - The company reported revenue of approximately RMB 21.1 million for the six months ended December 31, 2022, a decrease of 76.7% compared to RMB 90.6 million for the same period in 2021[12]. - The net loss for the period was approximately RMB 18.6 million, compared to a net profit of RMB 1.4 million for the same period in 2021, representing a decline of 1,428.6%[12]. - Total revenue for the company decreased by 76.7% to RMB 21,145,000 from RMB 90,582,000 in the previous year[29]. - The company reported a net loss attributable to owners of RMB 18,634,000 for the six months ended December 31, 2022, compared to a profit of RMB 1,423,000 in the same period of 2021[60]. - The company's planting business revenue decreased by approximately 91.1% to RMB 574,000 compared to RMB 6,440,000 in the same period last year[29]. - The fruit distribution business recorded revenue of approximately RMB 673,000, down 99.2% from RMB 84,142,000 year-on-year, primarily due to strict COVID-19 control measures in Shenzhen[30]. - The air conditioning distribution business generated revenue of approximately RMB 19,898,000, marking a 100% increase as it commenced operations following the acquisition of Shenzhen Jinlong Construction Engineering Co., Ltd.[30]. Asset and Cash Position - The company's total assets decreased by 10.9% to RMB 205.4 million as of December 31, 2022, down from RMB 230.6 million as of June 30, 2022[6]. - Cash and cash equivalents fell by 47.0% to RMB 25.5 million from RMB 48.1 million[6]. - The company's cash position decreased to approximately RMB 25,500,000 as of December 31, 2022, down from RMB 48,100,000 as of June 30, 2022[50]. - The current ratio and quick ratio as of December 31, 2022, were 5.51 and 4.68, respectively, indicating improved liquidity compared to 3.87 and 3.16 as of June 30, 2022[50]. - Total equity decreased to RMB 185,718,000 from RMB 201,520,000, a decline of approximately 7.8%[67]. - The company reported a net cash outflow from operating activities of RMB 22,510,000 for the six months ended December 31, 2022, compared to RMB 39,685,000 for the same period in 2021[69]. Business Operations and Strategy - The company expanded its passion fruit cultivation, which has begun to yield positive results and provide a new source of income[10]. - The air conditioning distribution business started generating significant revenue, becoming a major contributor to the company's total income[10]. - The company plans to acquire all equity of Shaanxi Pinshang Agricultural Products Trading Co., Ltd., which is expected to enhance sales channels and increase market penetration in North China[14]. - The company anticipates a gradual recovery in its planting business as restrictions related to COVID-19 are lifted in 2023, allowing farmers to properly care for citrus trees[13]. - The logistics and distribution operations are expected to return to normal as traffic restrictions are lifted, which will positively impact the fruit distribution business[13]. - The company aims to diversify its product offerings by sourcing new varieties of fruits from overseas suppliers[14]. - The group has successfully expanded passion fruit planting, generating initial revenue despite limited scale production[24]. - The group continues to seek new customers and supply agreements to expand its fruit distribution business despite challenges posed by the pandemic[25]. Employee and Operational Costs - Employee costs increased by approximately 51.4% to RMB 5,300,000, primarily due to the inclusion of costs from Jinlong Construction and an increase in headcount[36]. - The company incurred a loss of RMB 6,463,000 due to impairment losses recognized on property, plant, and equipment[93]. - The company recognized impairment losses on property, plant, and equipment of approximately RMB 6,500,000, attributed to reduced recoverable amounts related to the planting business[35]. - The company is required to pay a fixed monthly amount of RMB 300,000 to its partner due to rising agricultural land costs, impacting operational expenses[44]. Shareholder and Capital Structure - The company has issued a total of 2,499,637,884 shares as of December 31, 2022, unchanged from the previous period[49]. - Major shareholders include Gong Zemin with 419,298,000 shares (16.77%), Xu Guodian with 276,243,000 shares (11.05%), and Liu Peng with 221,981,000 shares (8.88%) as of December 31, 2022[154]. - The total number of shares available for issuance under the 2020 Share Option Scheme is 124,963,788, which is about 10% of the issued shares at the time of the scheme's adoption[159]. - The company has not issued any unexercised share options under the 2020 Share Option Scheme as of December 31, 2022[160]. Compliance and Governance - The company has complied with all provisions of the corporate governance code, except for the combined role of Chairman and CEO held by Ng Ong Nee since August 4, 2015[169]. - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing the company's financial controls and risk management systems[175]. - The company has adopted the standard code of conduct for securities transactions as per the listing rules, with all directors confirming compliance for the six months ending December 31, 2022[170].
亚洲果业(00073) - 2023 - 中期财报