Financial Performance - The group's unaudited revenue for the six months ended June 30, 2024, was RMB 298.6 million, a decrease of 8% compared to RMB 324.7 million for the same period in 2023[1]. - The group's unaudited gross profit for the six months ended June 30, 2024, was RMB 57.2 million, an increase of 19% compared to RMB 51.2 million for the same period in 2023[1]. - The unaudited profit attributable to equity holders of the parent company for the six months ended June 30, 2024, was RMB 18.9 million, an increase of 78% compared to RMB 10.6 million for the same period in 2023[1]. - The basic and diluted earnings per share for the six months ended June 30, 2024, was RMB 0.03, compared to RMB 0.02 for the same period in 2023[1]. - The total tax expense for the six months ended June 30, 2024, was RMB 7,128,000, an increase from RMB 4,887,000 for the same period in 2023[19]. - Profit for the period increased by RMB 8.3 million or 78% to RMB 18.9 million, compared to RMB 10.6 million in the previous year[25]. - The gross profit increased by RMB 6.0 million to RMB 57.2 million, with a gross margin rising to 19.1% from 15.8% in the previous year[33]. Revenue Breakdown - Revenue from customer contracts for the six months ended June 30, 2024, was approximately RMB 298,601,000, a decrease of 8.06% from RMB 324,723,000 for the same period in 2023[16]. - Sales of food raw materials amounted to RMB 148,751,000, while sales of food additives were RMB 149,850,000 for the six months ended June 30, 2024[17]. - The total revenue for the six months ended June 30, 2023, was RMB 324,723,000, with food raw materials contributing RMB 159,115,000 and food additives contributing RMB 165,608,000[18]. Assets and Liabilities - The total non-current assets as of June 30, 2024, amounted to RMB 320.7 million, an increase from RMB 260.7 million as of December 31, 2023[6]. - Current assets totaled RMB 332.9 million as of June 30, 2024, slightly down from RMB 333.0 million as of December 31, 2023[6]. - Current liabilities increased to RMB 121.1 million as of June 30, 2024, compared to RMB 102.7 million as of December 31, 2023[7]. - The net asset value as of June 30, 2024, was RMB 472.1 million, up from RMB 462.8 million as of December 31, 2023[7]. - The group's cash and cash equivalents balance as of June 30, 2024, was RMB 176.5 million, an increase of RMB 19.0 million from RMB 157.5 million as of December 31, 2023[47]. - The debt-to-asset ratio as of June 30, 2024, was 27.8%, compared to 22.0% as of December 31, 2023[48]. Trade Receivables and Payables - Trade receivables as of June 30, 2024, were RMB 75,353,000, a decrease from RMB 92,269,000 as of December 31, 2023[22]. - Trade receivables aged analysis showed RMB 55.4 million within 3 months, down from RMB 75.7 million in the previous year[23]. - Trade payables were RMB 24.4 million within 3 months, compared to RMB 27.5 million in the previous year[24]. - The accounts receivable turnover days increased from 48 days as of December 31, 2023, to 53 days as of June 30, 2024[46]. Dividends - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2024, compared to no dividend for the same period in 2023[1]. - The company declared a final dividend of HKD 0.015 per share, amounting to approximately RMB 9,288,000 for the six months ended June 30, 2024, compared to RMB 8,762,000 for the same period in 2023[20]. - The board does not recommend the payment of any dividends for the review period[61]. Strategic Initiatives - The company plans to enhance its R&D capabilities with a new Asia-Pacific Innovation Center expected to be operational by early 2025[29]. - The company aims to explore strategic investment opportunities and seek acquisitions of quality target businesses and assets[29]. - The group has established strong relationships with global suppliers, including Nestlé and Mitsubishi, over several decades[26]. Compliance and Reporting - The company has adopted revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements for the period[12]. - The audit committee consists of three independent non-executive directors, ensuring compliance with applicable accounting standards and listing rules[62]. - The interim results have been reviewed and are in accordance with all applicable accounting standards and listing rules[63]. - A detailed interim report for the fiscal year 2024 will be sent to shareholders and published on the company's website at an appropriate time[63].
欣融国际(01587) - 2024 - 中期业绩