Financial Performance - Revenue for the twelve months ended December 31, 2021, was RMB 691,756,000, an increase of 19.1% from RMB 581,112,000 in 2020[7]. - Gross profit for the same period was RMB 94,620,000, down 21.4% from RMB 120,317,000 in 2020[7]. - The company reported a loss for the period of RMB 2,558,000, compared to a profit of RMB 20,680,000 in 2020[8]. - Total comprehensive loss for the period was RMB 1,233,000, a significant decrease from a total comprehensive income of RMB 21,852,000 in 2020[8]. - Total revenue for the reportable segments reached RMB 691,756,000 for the twelve months ended 31 December 2021, an increase from RMB 581,112,000 in 2020, representing a growth of approximately 19.1%[19]. - The Group's consolidated loss for the period was RMB 2,558,000, compared to a profit of RMB 20,680,000 in the previous year[19]. - The gross profit margin decreased to 13.7% from 20.7% in the same period last year, resulting in a loss of approximately RMB 2,558,000 compared to a profit of RMB 20,680,000 in the previous year[58]. - The core subsidiary, Guangzhou Mayer, recorded a profit before tax of approximately RMB 32,086,000, a decrease of 17.9% compared to RMB 39,078,000 in the same period last year[58]. Assets and Liabilities - Non-current assets increased to RMB 271,658,000 as of December 31, 2021, compared to RMB 264,637,000 in 2020[9]. - Current assets rose to RMB 559,330,000, up from RMB 509,950,000 in the previous year[9]. - Total equity attributable to owners of the company decreased to RMB 430,100,000 from RMB 435,030,000 in 2020[10]. - The company’s net current assets increased to RMB 338,885,000, compared to RMB 278,603,000 in 2020[9]. - Total assets of reportable segments increased to RMB 802,334,000 in 2021 from RMB 755,803,000 in 2020, representing a growth of approximately 6.8%[20]. - Consolidated total assets rose to RMB 830,988,000 in 2021, up from RMB 774,587,000 in 2020, indicating an increase of about 7.3%[20]. - Total liabilities of reportable segments increased to RMB 182,941,000 in 2021 compared to RMB 133,075,000 in 2020, reflecting a rise of approximately 37.6%[20]. - Consolidated total liabilities grew to RMB 338,982,000 in 2021, up from RMB 279,488,000 in 2020, marking an increase of around 21.3%[20]. Cash Flow and Financing - For the twelve months ended December 31, 2021, the net cash used in operating activities was RMB (25,392,000), an improvement from RMB (44,585,000) in 2020[12]. - The net cash generated from financing activities was RMB 39,852,000, contrasting with a net cash used of RMB (42,165,000) in 2020[12]. - The company’s cash and cash equivalents were RMB 34,948,000, down from RMB 37,575,000 in 2020[9]. - The Group recorded a net cash outflow of approximately RMB 25,392,000 from operating activities, primarily due to finance costs and depreciation, offset by changes in inventories and receivables[75]. - The net cash outflow from investment activities was approximately RMB 14,026,000, mainly due to the purchase of property, plant, and equipment[79]. Strategic Initiatives - The company is focused on expanding its market presence and exploring potential mergers and acquisitions to drive growth[4]. - New product development and technological advancements are emphasized as part of the company's strategy for future growth[4]. - The Group submitted applications for 9 patents and upgraded production equipment to enhance efficiency and capacity, collaborating with Guangdong University of Technology[60]. - The Group is actively participating in the "Three olds" redevelopment projects in Zhuhai, aiming to expand its consulting services and project coordination efforts in the Greater Bay Area[65]. Governance and Management - The report outlines the company's governance structure and the composition of its various committees[5]. - The company experienced significant changes in its board of directors, including the appointment of Mr. Xiao Libo as CEO on November 9, 2021[4]. - The Company has complied with all code provisions as set out in the Corporate Governance Code during the period, except for temporary deviations related to the Nomination Committee's leadership[121]. - The Audit Committee reviewed the Group's unaudited condensed consolidated interim results for the twelve months ended December 31, 2021, confirming compliance with applicable accounting standards and adequate disclosures[122]. Legal Matters - The Company is contesting a claim of HK$15,500,000 plus legal costs, asserting that the ultimate liability will not materially impact the Group's financial position[83]. - Guangzhou Mayer has filed legal actions to recover RMB50 million from three investment companies, considering these investments as deceitful acts by former management[84]. - The Company is considering civil lawsuits against the ultimate beneficial owner of the defendants due to lack of executable assets for enforcement[84]. - The Company filed an interlocutory injunction application against Mr. Xu and Mr. Wang for breaching their undertaking letters[85]. - The High Court of Hong Kong dismissed the application for interim injunctive relief, stating that the proper forum for the dispute is in the PRC[86]. Shareholder Information - As of December 31, 2021, Harbour Prestige International Limited held 410,000,000 shares, representing approximately 19% of the issued share capital of the Company[114]. - Cheung Ngan is a substantial shareholder with 518,680,000 shares, accounting for 24.04% of the issued share capital[116]. - The Company has a diverse shareholder base with significant holdings concentrated among a few key shareholders[116]. - The interests of substantial shareholders are recorded in the register required under section 336 of the SFO[115].
MAYER HOLDINGS(01116) - 2022 - 中期财报