Financial Performance - The company's revenue increased by approximately RMB 35.3 million or 19.9% to about RMB 212.3 million for the period, compared to approximately RMB 177 million in the corresponding period[10] - Gross profit decreased by approximately RMB 1.9 million or 7.2% to about RMB 24.6 million, with a gross margin decline from approximately 15.0% to about 11.6% due to rising raw material costs[11] - Profit for the period increased by approximately RMB 100,000 or 1.5% to about RMB 6.8 million, compared to approximately RMB 6.7 million in the corresponding period[14] - Revenue for the six months ended June 30, 2021, was RMB 212,268 thousand, an increase from RMB 177,014 thousand in the same period of 2020, representing a growth of 19.9%[62] - Gross profit for the same period was RMB 24,563 thousand, down from RMB 26,540 thousand in 2020, indicating a decrease of 7.4%[62] - Operating profit was RMB 9,266 thousand, slightly down from RMB 9,356 thousand in the previous year, reflecting a decrease of 1.0%[62] - Net profit for the period was RMB 6,760 thousand, compared to RMB 6,717 thousand in 2020, showing a marginal increase of 0.6%[62] Expenses and Costs - Sales and marketing expenses increased by approximately RMB 600,000 or 60% to about RMB 1.6 million during the period[12] - Administrative expenses rose by approximately RMB 1.1 million or 6.9% to about RMB 17.1 million, reflecting a recovery in business activities compared to the corresponding period[13] - Total operating expenses for the six months ended June 30, 2021, were RMB 205,393,000, an increase of 22.0% from RMB 168,352,000 in the same period of 2020[95] Financing and Borrowings - Bank borrowings increased by approximately RMB 8.7 million to about RMB 38.2 million as of June 30, 2021, primarily due to increased external financing during the period[15] - The company's borrowings as of June 30, 2021, were approximately RMB 38.2 million, an increase from RMB 29.5 million as of December 31, 2020[24] - The debt-to-equity ratio as of June 30, 2021, was 0.5 times, compared to 0.6 times as of December 31, 2020[24] - The current ratio as of June 30, 2021, was 1.8 times, consistent with the ratio as of December 31, 2020[24] Cash Flow and Liquidity - The net cash used in operating activities for the six months ended June 30, 2021, was RMB (14,310) thousand, compared to RMB 8,490 thousand for the same period in 2020, indicating a significant decline in cash flow from operations[75] - The net cash used in investing activities was RMB (19,943) thousand for the first half of 2021, compared to RMB (18,836) thousand in the same period of 2020, reflecting increased investment outflows[75] - Financing activities generated a net cash inflow of RMB 8,345 thousand in the first half of 2021, a recovery from a net cash outflow of RMB (21,540) thousand in the same period of 2020[75] - The cash and cash equivalents decreased by RMB 25,908 thousand during the first half of 2021, compared to a decrease of RMB 31,886 thousand in the same period of 2020[75] - The company’s cash and cash equivalents as of June 30, 2021, were RMB 38,983 thousand, down from RMB 64,569 thousand at the beginning of the year[75] Market and Business Outlook - The company aims to expand its market share and customer base by leveraging its expertise in building materials and maintaining a focus on product quality and environmentally friendly production processes[16] - The company maintains a cautiously optimistic outlook for long-term business prospects while adapting to challenges posed by the COVID-19 pandemic[16] - The construction industry in Jiangsu Province is gradually recovering to pre-COVID levels, supporting the company's operations[8] Employee and Health Measures - As of June 30, 2021, the company employed approximately 47 full-time employees and 188 outsourced workers, an increase from 41 full-time employees and 167 outsourced workers as of December 31, 2020[20] - Over 95% of the company's employees have been vaccinated against COVID-19 as of the report date[23] - The company has implemented various preventive measures against COVID-19, including temperature checks and regular disinfection of workplaces[22] Shareholder and Dividend Information - The company declared an interim dividend of HKD 0.025 per share, totaling HKD 10,000,000, to be distributed on or around November 10, 2021[37] - The company's issued share capital as of June 30, 2021, was 400,000,000 shares[41] - Major shareholders included Apax Investment, holding 239,400,000 shares, representing 59.85% of the issued share capital[44] Related Party Transactions and Investments - The company completed a related party transaction involving the purchase of a property in Hong Kong for HKD 9,500,000 on April 8, 2021[32] - The company had no major investments, acquisitions, or disposals during the reporting period, aside from the aforementioned transaction[33] Accounting and Governance - The company is currently evaluating the impact of new or revised accounting standards on its performance and financial position, but has not yet determined if there will be a significant effect[1] - The company continues to enhance its corporate governance practices in line with the corporate governance code[52] Other Financial Metrics - The company reported a comprehensive income of RMB 7,082 thousand for the six months ended June 30, 2021, compared to RMB 7,176 thousand for the same period in 2020, showing a slight decrease[71] - The retained earnings increased to RMB 81,124 thousand as of June 30, 2021, from RMB 75,420 thousand as of January 1, 2021, marking an increase of approximately 7.3%[71] - The company’s total comprehensive income for the six months ended June 30, 2021, included a profit of RMB 6,760 thousand, which is a positive contribution to the overall equity[71]
泰林科建(06193) - 2021 - 中期财报