Revenue Performance - For the six months ended June 30, 2021, the Group recorded revenue of RMB450,749,000, a year-on-year decrease of 30.8% from RMB651,831,000 in the same period of 2020[3]. - The high-end consuming accessories business generated revenue of RMB210,787,000, which is similar to RMB208,502,000 in the same period last year[6]. - Watch retail and trading sales amounted to RMB64,518,000, representing a significant year-on-year decrease of 83.9% from RMB399,959,000[8]. - Commodity trading recorded revenue of RMB175,444,000, marking a substantial year-on-year increase of 304.5% from RMB43,370,000[8]. - For the six months ended June 30, 2021, the group's revenue was RMB 450,749,000, a decrease of 30.8% compared to RMB 651,831,000 for the same period in 2020[19]. - High-end consuming accessories revenue was RMB 210,787,000, accounting for 46.8% of total revenue, showing a slight increase from RMB 208,502,000 in 2020[21]. - Watches retail and trading business revenue dropped significantly to RMB 64,518,000, a decline of 83.9% from RMB 399,959,000 in the previous year[19]. - Commodity trading revenue surged to RMB 175,444,000, representing a 304.5% increase from RMB 43,370,000 in 2020[19]. Financial Performance - The Group reported a loss of RMB21,885,000 for the period, a significant improvement compared to a loss of RMB71,317,000 in the same period of 2020, representing a 69.3% reduction in loss[3]. - Loss attributable to shareholders was RMB16,975,000, down 76.1% from RMB70,961,000 in the same period last year[3]. - Gross profit for the period was approximately RMB 38,466,000, down 53.0% year-on-year, with a gross profit margin of 8.5%, a decrease of 400 basis points from 12.5%[25]. - The company reported a loss for the period of RMB 21,885,000, compared to a loss of RMB 71,317,000 in the prior year, indicating an improvement[141]. - Basic loss per share for the period was RMB 0.004, compared to RMB 0.015 in the same period of 2020[141]. - Total comprehensive income for the period was RMB (67,214,000), a decline from RMB 53,105,000 in the previous year, primarily due to exchange differences and other comprehensive income adjustments[145]. Assets and Liabilities - As of June 30, 2021, total equity was RMB 3,322,492,000, down from RMB 3,439,810,000 at the end of 2020[27]. - The group maintained a net debt to equity ratio of zero, with total debt increasing to RMB 74,931,000 from RMB 29,918,000 at the end of 2020[32]. - Cash and cash equivalents were RMB 1,134,615,000, a decrease from RMB 1,241,863,000 at the end of 2020[27]. - As of June 30, 2021, the Group's current assets amounted to approximately RMB2,266,979,000, a decrease from RMB2,459,838,000 as of December 31, 2020[38]. - The Group's current liabilities increased to approximately RMB165,041,000 as of June 30, 2021, compared to RMB137,312,000 as of December 31, 2020[40]. - The company’s inventories were reported at RMB 623,316,000, down from RMB 653,106,000 in the previous year, indicating a decrease in stock levels[169]. - Trade and other receivables decreased to RMB 492,097,000 from RMB 535,487,000, suggesting tighter credit management or reduced sales[170]. Strategic Plans and Market Outlook - The Group plans to focus on expanding the development in manufacturing high-end accessories for renowned watches and enhancing integrated services for commercial space in Mainland China and international markets[13]. - The Group will explore new profit models and diversify into manufacturing high-end product accessories in other lifestyle products such as jewelry, cosmetics, and mobile phones[13]. - The overall economic situation remains unpredictable, but the Group expects steady economic development in Mainland China[12]. - The Group will continue to adapt to market changes and strive for new breakthroughs in corporate development[13]. - The Group plans to seek opportunities for industry integration and strengthen its leadership through technical R&D and innovation in the second half of the year[51]. - The Group will expand its commercial space beautification services to include living space beautification services, aiming to build momentum for future development[66]. - The Group continues to enhance the standard of its integrated services for commercial space in both Mainland China and international markets[66]. Corporate Governance and Shareholder Information - The Company has established an audit committee comprising three independent non-executive directors to enhance financial oversight[128]. - The Company has adopted a code for securities transactions by directors that meets the standards required by the Model Code[129]. - The Board has reviewed the effectiveness of the internal control systems and considers them to be effective and adequate[125]. - Mr. Zhang Yuping holds a total of 1,597,556,501 shares, representing 35.78% of the issued share capital as of June 30, 2021[74]. - Best Growth International Limited, controlled by Mr. Zhang, holds 1,505,832,901 shares, which is 33.73% of the issued share capital[80]. - The Swatch Group (Hong Kong) Limited holds 437,800,000 shares, accounting for 9.81% of the issued share capital[82]. - The total number of issued shares of the Company as of June 30, 2021, is 4,464,806,959[75]. - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2021[84]. Environmental and Social Responsibility - The Group emphasizes environmental protection, ensuring all branches comply with national quality standards and regulations[62]. - The Group actively participates in public welfare activities, contributing to education, healthcare, and sports through donations[65].
亨得利(03389) - 2021 - 中期财报