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巨匠建设(01459) - 2024 - 中期业绩
JUJIANG CONSJUJIANG CONS(HK:01459)2024-08-16 13:41

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 3,833,658, a decrease of 8.03% compared to RMB 4,168,315 for the same period in 2023[1] - Gross profit for the same period was RMB 155,935, down 3.05% from RMB 160,848 in 2023, with a gross margin of 4.07%, an increase from 3.86%[1] - Profit for the period was RMB 16,849, a significant decline of 46.13% from RMB 31,278 in the previous year, resulting in a net profit margin of 0.44% compared to 0.75%[1] - Basic and diluted earnings per share were RMB 0.03, down from RMB 0.06 in the prior period[2] - Total comprehensive income for the period was RMB 16,311, compared to RMB 31,559 in the previous year[3] - Total revenue for the group was RMB 3,833,658,000, with a pre-tax profit of RMB 17,104,000[12] - Pre-tax profit for the six months ended June 30, 2024, was RMB 17,104 thousand, significantly lower than RMB 32,929 thousand in 2023, representing a decrease of approximately 48.0%[23] - The company declared a final dividend of RMB 0.0182 per share for the six months ended June 30, 2024, compared to RMB 0.0367 per share in 2023, indicating a reduction of about 50.3%[24] Assets and Liabilities - Non-current assets as of June 30, 2024, totaled RMB 494,506, a slight decrease from RMB 504,006 as of December 31, 2023[4] - Current liabilities decreased to RMB 4,837,774 from RMB 5,047,602 at the end of 2023[5] - Total equity as of June 30, 2024, was RMB 1,643,928, a marginal increase from RMB 1,639,128 at the end of 2023[6] - The group’s total assets decreased from RMB 6,825,376,000 as of December 31, 2023, to RMB 6,603,179,000 as of June 30, 2024[14] - The group’s total liabilities decreased from RMB 5,186,248,000 as of December 31, 2023, to RMB 4,959,251,000 as of June 30, 2024[14] - The company's interest-bearing bank and other borrowings as of June 30, 2024, are approximately RMB 330,700,000, down from RMB 445,130,000 as of December 31, 2023, indicating a reduction of about 25.7%[33] Revenue Breakdown - The group reported external customer revenue of RMB 3,787,132,000 from the construction contracting segment for the six months ended June 30, 2024[12] - Revenue from construction contracting for the six months ended June 30, 2024, was RMB 3,787,132 thousand, down from RMB 4,131,023 thousand in 2023, indicating a decrease of about 8.3%[16] - Other income for the six months ended June 30, 2024, totaled RMB 8,934 thousand, compared to RMB 10,590 thousand in 2023, reflecting a decline of approximately 15.6%[18] Expenses - Financial expenses for the six months ended June 30, 2024, were RMB 16,287 thousand, down from RMB 21,219 thousand in 2023, a reduction of about 23.3%[19] - Administrative expenses decreased by approximately 8.82% to RMB 78.4 million, mainly due to reduced salaries and employee benefits[50] - Employee costs amounted to approximately RMB 44.9 million for the six months ended June 30, 2024, representing a decrease of about 14.33% compared to the same period in 2023[64] Impairment and Provisions - The company reported a net impairment loss of RMB 43,945 thousand for the six months ended June 30, 2024, compared to RMB 22,676 thousand in 2023, indicating an increase of approximately 94.4%[20] - The company has maintained a strict control over its accounts receivable, with a net loss provision for receivables increasing to RMB 252,064 as of June 30, 2024, from RMB 223,179 as of December 31, 2023, which is an increase of approximately 12.9%[29] Market and Industry Insights - The total output value of the construction industry in China reached approximately RMB 13.2 trillion for the first half of 2024, representing a year-on-year growth of 5.9%[37] - The total area of residential construction in China was approximately 11.8 billion square meters, a year-on-year decrease of 1.7%[37] - The sales area of commercial housing was approximately 480 million square meters, down 19.0%, with new commercial housing sales amounting to about RMB 4.7 trillion, a decline of 25.0%[37] Strategic Initiatives - The company aims to minimize credit risk through a dedicated credit control department, regularly reviewing overdue balances to ensure financial stability[28] - The company plans to enhance its marketing team and optimize market layout, focusing on local markets in Tongxiang, Jiaxing, and Yiwu, while also seeking opportunities in provincial and overseas markets[65] - The company aims to improve production efficiency by leveraging a smart command center and big data to reduce costs and enhance digital applications[66] Compliance and Governance - The company has fully complied with the corporate governance code as of June 30, 2024[69] - The company has no significant contingent liabilities as of June 30, 2024[62]