Financial Performance - The total revenue for the first half of 2023 was approximately RMB 52.3 million, an increase of 50.3% compared to RMB 34.8 million in the same period of 2022[25]. - Revenue for the six months ended June 30, 2023, was RMB 52,289,000, an increase of 50.0% compared to RMB 34,844,000 for the same period in 2022[70]. - Revenue from honeycomb denitration catalysts increased to approximately RMB 30.8 million, a 413.3% increase from RMB 6.0 million in the same period of 2022[26]. - Revenue from automotive denitration catalysts reached approximately RMB 14.3 million, a significant increase of 1,942.9% compared to RMB 0.7 million in the same period of 2022[26]. - The gross profit for the first half of 2023 was approximately RMB 9.6 million, up from RMB 6.4 million in the same period of 2022[27]. - Gross profit for the same period was RMB 9,628,000, representing a gross margin of 18.4%, up from RMB 6,401,000 in 2022[70]. - The company reported a loss before tax of RMB 9,782,000, compared to a loss of RMB 8,440,000 in the previous year, indicating a 15.9% increase in losses[70]. - The company incurred a loss of RMB 9,782,000 for the six months ended June 30, 2023, compared to a loss of RMB 8,440,000 for the same period in 2022, representing a 15.9% increase in losses[103]. - For the six months ended June 30, 2023, the company reported a total comprehensive loss of RMB 7,822,000, compared to a loss of RMB 9,782,000 in the same period of 2022, representing a 20% improvement in loss[78]. Operational Highlights - In the first half of 2023, the company completed 433 catalyst inquiries and technical support tasks, with 133 formal bids and 64 catalyst supply contracts signed, showing an increase in total contract value year-on-year[14]. - The company achieved its highest export level with 5 overseas projects in the first half of 2023, marking a significant milestone[15]. - The production of honeycomb catalysts exceeded that of plate catalysts, accounting for 57% of total production, up from 36% in the same period last year[17]. - The macroeconomic recovery led to an increase in commercial vehicle sales, positively impacting the vehicle catalyst business, with a significant rise in coating product orders compared to the previous year[18]. - The company plans to adapt to the evolving market for National VI emission standard natural gas and diesel vehicle catalysts, focusing on maintaining existing customer orders while exploring new OEM and aftermarket clients[22]. - The company aims to achieve new sales breakthroughs in its industrial catalyst segment and expand overseas sales efforts in 2023[24]. - The company plans to enhance its R&D efforts, focusing on emerging industries and catalyst products in the second half of 2023[24]. Expenses and Liabilities - Selling and marketing expenses increased by 66.1% to approximately RMB 9.8 million from RMB 5.9 million in the same period of 2022[29]. - Administrative expenses rose by 11.6% to approximately RMB 10.6 million compared to RMB 9.5 million in the same period of 2022[30]. - Total liabilities increased to RMB 157,292,000, up 25.1% from RMB 125,724,000 at the end of 2022[72]. - Trade payables increased significantly to RMB 29,223,000 as of June 30, 2023, compared to RMB 11,217,000 as of December 31, 2022[114]. - The aging analysis of trade payables shows that RMB 20,927,000 is due within six months, up from RMB 8,183,000 in the previous period[114]. Assets and Cash Flow - As of June 30, 2023, the company had net current assets of approximately RMB 135.2 million, with cash and cash equivalents of approximately RMB 23.0 million[33]. - The company experienced a net decrease in cash and cash equivalents of RMB 2,955,000, compared to a decrease of RMB 266,000 in the first half of 2022[80]. - As of June 30, 2023, the company's cash and cash equivalents stood at RMB 23,022,000, down from RMB 73,404,000 at the end of June 2022[80]. - The net cash used in operating activities for the first half of 2023 was RMB 1,108,000, a significant increase from RMB 70,000 in the same period of 2022[80]. - Trade receivables increased to RMB 19,102,000, up 23.0% from RMB 15,502,000 at the end of 2022[72]. - Inventory as of June 30, 2023, was RMB 182,530,000, an increase of 13.4% from RMB 160,950,000 at the end of 2022[72]. Shareholder and Governance Information - Major shareholders include Advant Performance Limited with 30.98% ownership and EEC Technology Limited with 10.34% ownership as of June 30, 2023[57]. - The company has adopted the corporate governance code and confirmed compliance by all directors during the reporting period[63]. - The company's issued and fully paid share capital remained at RMB 31,423,000 as of June 30, 2023, unchanged from previous periods[115]. - The company has not engaged in any foreign exchange hedging activities during the period, facing potential financial impacts from currency fluctuations[47]. - The board is not aware of any significant events affecting the company after June 30, 2023, up to the date of the interim report[46]. Investments and Capital Expenditures - The company invested approximately RMB 0.2 million in capital expenditures during the period, a decrease from RMB 2.0 million in the same period last year[41]. - The company has not made any capital contributions to Langfang Dinos Environmental Technology Co., Ltd. as of June 30, 2023, maintaining a commitment of RMB 2,000,000[116]. - The total value of property, plant, and equipment acquired was approximately RMB 237,000, a significant decrease from RMB 2,032,000 in the same period last year[104]. - The company received government subsidies amounting to RMB 70,000 during the reporting period, compared to RMB 1,000 in the same period of the previous year[80]. - The company received government subsidies amounting to RMB 224,000, slightly up from RMB 207,000 in the previous year[98].
迪诺斯环保(01452) - 2023 - 中期财报