Financial Performance - Revenue for the six months ended June 30, 2024, reached RMB 143,943,000, representing a 49.3% increase from RMB 96,462,000 in the same period of 2023[1] - Gross profit for the same period was RMB 42,017,000, up 67.5% from RMB 25,068,000 year-on-year[1] - The company reported a profit before tax of RMB 5,524,000, a significant recovery from a loss of RMB 15,552,000 in the previous year[2] - Net profit for the period was RMB 5,339,000, compared to a loss of RMB 14,556,000 in 2023, indicating a turnaround in financial performance[2] - Basic and diluted earnings per share for the period were RMB 0.4 cents, recovering from a loss of RMB 1.2 cents per share in the previous year[3] - The group's pre-tax profit for the six months ended June 30, 2024, was RMB 5,341,000, compared to a loss of RMB 14,622,000 for the same period in 2023, indicating a significant turnaround[21] - The company recorded a profit attributable to equity holders of approximately RMB 5.3 million, a significant improvement from a loss of approximately RMB 14.6 million in the same period last year[30] Revenue Breakdown - ODM product sales accounted for RMB 125,297 thousand, while brand product sales were RMB 18,646 thousand for the six months ended June 30, 2024[11] - Revenue from the United States increased significantly to RMB 37,903 thousand for the six months ended June 30, 2024, compared to RMB 12,405 thousand in the same period of 2023[12] - The geographical breakdown of revenue shows a decline in mainland China revenue to RMB 49,146 thousand for the six months ended June 30, 2024, from RMB 65,812 thousand in the same period of 2023[12] - Export sales accounted for approximately RMB 94.8 million, with the top three destination countries being the United States (40.0%), Germany (25.9%), and Canada (15.6%) of total overseas sales[30] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 452,545,000, slightly down from RMB 459,417,000 at the end of 2023[5] - Current liabilities increased to RMB 254,852,000 from RMB 187,391,000, reflecting a rise in trade payables and other payables[5] - The company has a net current liability of RMB 72,181,000, indicating a need for careful cash flow management[6] - Trade receivables at the end of the reporting period amounted to RMB 69,783,000, significantly higher than RMB 33,783,000 at the end of 2023, suggesting improved sales performance[23] - The group reported a total of RMB 40,818,000 in trade payables at the end of June 30, 2024, compared to RMB 30,740,000 at the end of 2023, indicating increased liabilities[24] - The group’s interest-bearing liabilities amounted to approximately RMB 156.2 million as of June 30, 2024, compared to approximately RMB 133.6 million as of December 31, 2023[43] Costs and Expenses - Financial costs for the six months ended June 30, 2024, were RMB 3,547 thousand, compared to RMB 2,155 thousand for the same period in 2023[11] - Total employee benefits expenses, excluding directors and key management personnel, increased to RMB 36,834,000 for the six months ended June 30, 2024, from RMB 28,790,000 in 2023, reflecting a rise in workforce costs[16] - Sales and distribution expenses for the reporting period were approximately RMB 20.2 million, consistent with approximately RMB 20.0 million in the same period last year[36] - Administrative and other expenses for the reporting period were approximately RMB 23.5 million, an increase from approximately RMB 23.2 million in the same period last year[37] - Financial costs for the reporting period were approximately RMB 3.5 million, an increase of approximately RMB 1.3 million or about 59.1% from approximately RMB 2.2 million in the same period last year[38] Investments and R&D - The company is implementing a rights issue to improve its working capital and reduce capital expenditures[8] - Research and development costs increased to RMB 8,563,000 for the six months ended June 30, 2024, up from RMB 8,233,000 in the previous year, reflecting a focus on innovation[16] - The group purchased assets at a cost of RMB 4,824,000 for the six months ended June 30, 2024, compared to RMB 2,009,000 in the same period of 2023, indicating ongoing investment in infrastructure[22] - The group plans to enhance its R&D capabilities and product competitiveness to navigate the complex external environment and maintain a competitive edge[42] Governance and Compliance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, ensuring compliance with all applicable provisions except for C.2.1[53] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim financial information for the six months ending June 30, 2024, and confirmed compliance with applicable accounting standards[54] - The Remuneration Committee evaluates the performance of directors and senior management and makes recommendations regarding their compensation[55] - The Nomination Committee is responsible for recommending suitable candidates for the board and reviewing the board's structure and composition as needed[56] Dividends and Cash Reserves - The group did not declare or pay any dividends during the reporting period, maintaining cash reserves for future investments[20] - As of June 30, 2024, the group had cash and cash equivalents of approximately RMB 5.6 million, up from approximately RMB 3.6 million as of December 31, 2023[43] - The group had no significant contingent liabilities as of June 30, 2024[47] - No interim dividend was declared for the reporting period, remaining at zero for June 30, 2023[58]
博尼控股(01906) - 2024 - 中期业绩