Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 5,293,583 thousand, representing a 1.3% increase from RMB 5,226,576 thousand in the same period of 2022[2] - Profit before tax increased by 29.6% to RMB 436,812 thousand compared to RMB 336,927 thousand in the previous year[2] - Basic earnings per share rose to RMB 0.245, up 2.1% from RMB 0.240 in the same period last year[2] - Total comprehensive income for the period was RMB 150,591 thousand, significantly up from RMB 70,467 thousand in the previous year[6] - The group reported a profit attributable to ordinary shareholders of RMB 273.269 million for the six months ended June 30, 2023, compared to RMB 267.469 million for the same period in 2022[28] - The net profit for the first half of 2023 was approximately RMB 272 million, an increase of about 3.5% from RMB 262 million in the same period of 2022[43] Dividends - The interim dividend declared is RMB 0.122 per share, equivalent to 13.3 Hong Kong cents, a decrease of 4.3% from 13.9 Hong Kong cents in the previous year[2] - The mid-term dividend declared was RMB 0.122 per ordinary share, compared to RMB 0.120 per ordinary share in the previous year[56] - A 10% corporate income tax will be withheld on the declared 2023 interim dividend for non-resident shareholders[58] - The expected distribution date for the 2023 interim dividend is around September 25, 2023[60] Assets and Liabilities - Non-current assets as of June 30, 2023, totaled RMB 6,856,744 thousand, an increase from RMB 6,683,943 thousand at the end of 2022[7] - Current liabilities decreased to RMB 7,569,826 thousand from RMB 6,828,393 thousand at the end of 2022[8] - Net assets as of June 30, 2023, were RMB 5,769,878 thousand, compared to RMB 5,728,402 thousand at the end of 2022[9] - As of June 30, 2023, the group's net current liabilities amounted to approximately RMB 371,393,000, with available undrawn financing of RMB 1,454,938,000[15] - The group's net assets as of June 30, 2023, were approximately RMB 57.70 billion, an increase from RMB 57.28 billion as of December 31, 2022[45] Cash Flow and Investments - The net cash generated from operating activities was RMB 51,798 thousand, a significant improvement from a net cash used of RMB 224,572 thousand in the previous year[10] - The company reported a net cash outflow from investing activities of RMB 362,712 thousand, compared to RMB 321,802 thousand in the same period of 2022, indicating increased investment activity[11] - New bank loans raised amounted to RMB 1,276,685 thousand, a substantial increase from RMB 552,328 thousand in the prior year, reflecting a strategy to enhance liquidity[11] - The total cash and cash equivalents at the end of the period were RMB 1,938,933 thousand, up from RMB 1,809,552 thousand at the end of June 2022[12] - The company's cash flow from financing activities showed a net outflow of RMB 144,822 thousand, a significant decrease from a net inflow of RMB 432,912 thousand in the same period last year, indicating changes in financing strategy[11] Revenue Breakdown - Revenue from tinplate packaging decreased to RMB 2,080,934,000 from RMB 2,169,397,000, a decline of 4.1% year-on-year[20] - Revenue from aluminum packaging increased to RMB 2,891,628,000, up 5.2% from RMB 2,748,790,000 in the previous year[20] - The sales revenue of the two-piece can business reached approximately RMB 2.785 billion in the first half of 2023, an increase of about 4.9% compared to RMB 2.655 billion in the same period of 2022[34] - The sales revenue of the single-piece can products was approximately RMB 106 million in the first half of 2023, up about 12.8% from RMB 94 million in the same period of 2022[35] - The sales revenue of the tinplate packaging segment was approximately RMB 2.081 billion in the first half of 2023, a decrease of about 4.1% from RMB 2.169 billion in the same period of 2022, accounting for approximately 39.3% of total sales[36] Employee Costs - Employee costs for the six months ended June 30, 2023, totaled RMB 426,975,000, an increase from RMB 387,033,000 in the previous year, reflecting a rise of 10.3%[23] - The total employee cost for the group was approximately RMB 427 million as of June 30, 2023, compared to RMB 387 million in the same period last year[51] - The group employed 6,292 full-time employees as of June 30, 2023, an increase from 5,776 employees in the same period last year[51] Financial Ratios and Metrics - The total borrowings increased to RMB 53.65 billion as of June 30, 2023, compared to RMB 52.11 billion as of December 31, 2022, resulting in a leverage ratio of 63.2%, up 10.6 percentage points[46] - The current ratio as of June 30, 2023, was approximately 1.0, down from 1.1 as of December 31, 2022[46] Corporate Governance - The remuneration committee consists of two independent non-executive directors and one non-executive director, ensuring no director participates in determining their own remuneration[61] - The audit committee is responsible for reviewing the financial reporting process and monitoring the effectiveness of internal control systems[62] - The nomination committee evaluates the board's structure and proposes changes to the board as necessary[63] - The Risk Management Committee was established on December 22, 2016, to oversee the group's enterprise risk management framework and policies[64] - The committee consists of one independent non-executive director, one non-executive director, and one executive director, chaired by Mr. Chen Jihua[64] - The board of directors includes Mr. Zhang Xin as the chairman and executive director, with several other executive and non-executive directors[65] Strategic Initiatives - The group aims to enhance its market share and optimize investment strategies while focusing on sustainable development and green initiatives[44] - The group plans to continue expanding new development opportunities both domestically and internationally, emphasizing high-quality and differentiated product offerings[44]
中粮包装(00906) - 2023 - 中期业绩