Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 110,535 thousand, a decrease from RMB 199,809 thousand in the same period of 2022, representing a decline of approximately 44.7%[161]. - Gross profit for the period was RMB 12,784 thousand, down from RMB 32,142 thousand in the previous year, indicating a decrease of about 60.2%[161]. - The net loss for the period was RMB 15,819 thousand, compared to a net loss of RMB 4,401 thousand in the same period last year, reflecting an increase in losses of approximately 259.4%[161]. - The group recorded a loss attributable to owners of approximately RMB 15.4 million, an increase from approximately RMB 4.3 million in the previous period, mainly due to the decrease in gross profit[110]. - The company's total equity decreased to RMB 324,046 thousand from RMB 338,772 thousand, a decline of approximately 4.4%[163]. - The company reported a net loss of RMB 15,363,000 for the six months ended June 30, 2023, compared to a loss of RMB 4,075,000 in the same period of 2022[176]. - The company's basic and diluted loss per share for the period was RMB (2.72), compared to RMB (0.77) in the same period last year, indicating a worsening in per-share losses[161]. Trade Receivables and Liabilities - Trade receivables as of June 30, 2023, amounted to RMB 67,110,000, down from RMB 75,768,000 as of December 31, 2022, reflecting a decrease of approximately 11.0%[16]. - The aging analysis of trade receivables shows that as of June 30, 2023, RMB 36,121,000 was overdue for more than 365 days, compared to RMB 18,581,000 as of December 31, 2022, indicating an increase of approximately 94.5%[19]. - The group reported a provision for expected credit losses of RMB 48,123,000 as of June 30, 2023, compared to RMB 38,655,000 as of December 31, 2022, reflecting an increase of approximately 24.3%[16]. - As of June 30, 2023, the company’s contract liabilities from advance payments amounted to RMB 115,084,000, an increase of 81.5% from RMB 63,534,000 as of December 31, 2022[28]. - The company has outstanding receivables from the sale of unlisted equity instruments totaling HKD 9,000,000 (approximately RMB 8,346,000) as of June 30, 2023[24]. Assets and Liabilities - The company's total liabilities increased to RMB 228,858,000 as of June 30, 2023, up from RMB 168,894,000 as of December 31, 2022[28]. - The company reported total interest-bearing borrowings of RMB 49,934,000 as of June 30, 2023, compared to RMB 25,000,000 as of December 31, 2022[33]. - The company's bank borrowings increased to approximately RMB 49.9 million as of June 30, 2023, from RMB 25.0 million as of December 31, 2022[126]. - Current liabilities increased to RMB 289,372 thousand from RMB 205,507 thousand, marking an increase of approximately 40.6%[163]. - The company has capital commitments of approximately RMB 253.8 million as of June 30, 2023, for construction projects and intangible asset development[138]. Share Options and Equity - The company has issued a total of 563,976,000 shares as of June 30, 2023[44]. - The company has a share option plan that allows for a maximum of 10% of the total issued shares to be granted under the plan[47]. - A total of 14,000,000 share options were granted at an exercise price of HKD 1.14 per share, with 10,000,000 options granted to executive directors and employees[49]. - The share option plan is valid for ten years from the adoption date, which was May 8, 2020[46]. - The fair value of the share options granted to directors and employees on May 21, 2021, was approximately HKD 0.355 and HKD 0.360 per option[55]. - The group recognized an expense of approximately RMB 692,000 for equity-settled share-based payments for the six months ended June 30, 2023, compared to RMB 649,000 for the same period in 2022[58]. Research and Development - The group plans to construct a dedicated R&D and production center in Jinjiang City, as disclosed in its prospectus dated May 20, 2020[7]. - A new research and development center is being established on a land area of approximately 28,353 square meters, with a construction contract valued at approximately RMB 176.0 million[85]. - The group plans to enhance research and development efficiency and accelerate the iteration of key components through the new R&D center[88]. - Research and development expenses for the period amounted to approximately RMB 12.8 million, fully funded by the group's internal resources[88]. - The company is currently developing a 5G+ smart equipment operation and maintenance service platform, with the first phase of software system deployment completed[139]. Market and Sales Performance - The group recorded total revenue of approximately RMB 110.5 million for the six months ended June 30, 2023, with a total of 23 machines sold, representing a 45% decrease compared to the previous period[85]. - The company sold 8 baby diaper machines generating RMB 45.39 million, a 41% increase from the previous year[98]. - The company sold 4 adult diaper machines generating RMB 25.74 million, a 23% increase, despite a decrease in the number of units sold compared to the previous year[98]. - The company sold 4 women's sanitary napkin machines generating RMB 13.59 million, a 12% increase from the previous year[98]. - The group's revenue decreased from approximately RMB 199.8 million in the previous period to about RMB 110.5 million, a reduction of approximately RMB 89.3 million or 45%[99]. Governance and Compliance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules, ensuring high standards of corporate governance[11]. - The board of directors remains unchanged, with Mr. Wu resigning on May 25, 2023, and Ms. Chen appointed on the same date[150]. - The company has maintained a consistent governance structure, with no significant changes reported in the last six months[158]. - The company has not disclosed any additional information that needs to be reported under the Listing Rules as of June 30, 2023[158]. Future Outlook and Strategy - The company plans to acquire a manufacturer of automated packaging equipment to enhance production flexibility and provide comprehensive solutions for customers, with the acquisition expected to be completed by 2025[89]. - The company anticipates a certain impact on future financial performance due to rising raw material and labor costs, but will implement cost control measures[92]. - The company is actively expanding its global platform strategy, with advertising campaigns on major media platforms and participation in international trade shows to enhance brand exposure[94].
海纳智能(01645) - 2023 - 中期财报