Financial Performance - The group's revenue for the six months ended December 31, 2019, was approximately RMB 66,052,000, a decrease of about 6.9% compared to RMB 70,924,000 for the same period in 2018[3]. - The operating loss for the six months ended December 31, 2019, was approximately RMB 19,555,000, compared to an operating loss of RMB 16,315,000 for the same period in 2018[3]. - The net loss attributable to shareholders for the six months ended December 31, 2019, was approximately RMB 19,663,000, compared to RMB 16,315,000 for the same period in 2018[3]. - Basic and diluted loss per share for the six months ended December 31, 2019, was RMB 1.90[3]. - Gross profit for the six months ended December 31, 2019, was RMB 177,000, compared to RMB 5,468,000 for the same period in 2018[8]. - Total comprehensive loss attributable to shareholders for the six months ended December 31, 2019, was RMB 18,381,000, compared to RMB 13,630,000 for the same period in 2018[11]. - The net loss for the six months ended December 31, 2019, was RMB 19,663,000, compared to a loss of RMB 47,482,000 for the previous period, indicating an improvement of approximately 58.7%[15]. - The total comprehensive income for the period was a loss of RMB 18,381,000, which is a significant reduction from the loss of RMB 44,996,000 in the prior period[15]. - The company reported a pre-tax loss of RMB 19,663,000 for the six months ended December 31, 2019, compared to a loss of RMB 16,315,000 for the same period in 2018, indicating an increase in losses of approximately 14.4%[59]. Equity and Dividends - As of December 31, 2019, total equity attributable to shareholders was RMB 1,875,975,000[3]. - The board of directors did not recommend any interim dividend for the six months ended December 31, 2019[3]. - The total equity amounted to RMB 1,875,975,000, a decrease from RMB 1,939,352,000 as of July 1, 2018, reflecting a decline of approximately 3.3%[15]. - The total equity attributable to shareholders decreased to RMB 674,237,000 as of December 31, 2019, from RMB 741,382,000 as of July 1, 2018, reflecting a decline of approximately 9.1%[15]. - The total equity attributable to shareholders decreased by approximately RMB 18,381,000 to about RMB 1,875,975,000 as of December 31, 2019, compared to RMB 1,894,356,000 as of June 30, 2019[108]. Cash Flow and Assets - Cash used in operating activities was RMB (3,630,000) for the six months ended December 31, 2019, an improvement from RMB (8,684,000) in the same period of 2018[17]. - The net cash generated from investing activities was RMB 4,510,000, slightly higher than RMB 4,362,000 in the previous year[17]. - The cash and cash equivalents at the end of the period were RMB 1,438,804,000, compared to RMB 1,434,889,000 at the end of the previous year, showing a slight increase[17]. - The total assets less current liabilities as of December 31, 2019, was RMB 1,896,210,000[13]. - The group's total assets were RMB 1,957,997,000 as of December 31, 2019, a slight decrease from RMB 1,974,112,000 as of June 30, 2019[75]. Sales and Revenue Breakdown - Sales of automation instruments and technical products amounted to RMB 61,055,000, down from RMB 69,216,000 in the previous year, representing a decline of 11.5%[46]. - Sales of clock instruments increased significantly to RMB 4,997,000 from RMB 1,708,000, marking a growth of 193.5%[46]. - The group reported other income of RMB 2,179,000, which includes bank interest income and rental income, compared to RMB 1,087,000 in the previous year, reflecting an increase of 100.5%[47]. - Reported segment revenue for the six months ended December 31, 2019, was RMB 66,052,000, a decrease of 6.6% from RMB 70,924,000 in the same period of 2018[73]. - Sales of high-precision industrial automation instruments and technical products amounted to approximately RMB 61,055,000, accounting for about 92.4% of total revenue, down from 97.6% in the same period last year[93]. Employee and Operational Costs - Employee costs decreased to RMB 19,094,000 in the first half of 2019 from RMB 22,150,000 in the same period of 2018, reflecting a reduction of about 13%[5]. - Research and development expenses were RMB 3,022,000 for the six months ended December 31, 2019, down from RMB 3,689,000 in the previous year, representing a decrease of approximately 18.1%[53]. - The depreciation of property, plant, and equipment was RMB 21,448,000 for the first half of 2019, slightly down from RMB 22,216,000 in the same period of 2018, a decrease of about 3.5%[53]. - The cost of goods sold was RMB 65,875,000 for the six months ended December 31, 2019, compared to RMB 65,456,000 in the same period of 2018, showing a marginal increase of about 0.6%[53]. Lease Accounting Changes - The company has adopted the new Hong Kong Financial Reporting Standard No. 16 "Leases," which came into effect on July 1, 2019, impacting the accounting treatment of leases[21]. - The total lease liabilities recognized on July 1, 2019, amounted to RMB 4,254,000, with current lease liabilities at RMB 1,724,000 and non-current lease liabilities at RMB 2,530,000[39]. - The impact of adopting HKFRS 16 resulted in a positive effect on the consolidated income statement compared to the previous accounting policy, as the group now recognizes interest expenses on lease liabilities and depreciation on right-of-use assets[44]. - The group utilized incremental borrowing rates of 5.46% and 5.70% for discounting lease liabilities as of July 1, 2019[37]. - The company will assess the likelihood of exercising renewal options when determining the lease term, considering all relevant facts and circumstances[34]. Corporate Governance and Compliance - The company has complied with all major provisions of the Corporate Governance Code, except for the deviation regarding the roles of the Chairman and CEO[139]. - The Audit Committee reviewed the unaudited interim results for the six months ended December 31, 2019, and confirmed compliance with relevant accounting standards and regulations[149]. - The company’s shares have been suspended from trading since August 22, 2012, and will remain suspended until further notice[151].
中国高精密(00591) - 2020 - 中期财报