Financial Performance - Revenue for the six months ended January 31, 2021, was RMB 140,794 thousand, a decrease of 42.4% compared to RMB 243,986 thousand for the same period in 2020[11] - Gross profit for the same period was RMB 29,203 thousand, with a gross margin of 20.7%, compared to RMB 27,561 thousand and a gross margin of 11.3% in 2020[11] - Operating loss for the six months was RMB 2,966 thousand, compared to an operating loss of RMB 2,076 thousand in the previous year[11] - Loss attributable to owners of the company was RMB 6,620 thousand, a decrease of 19.4% from RMB 8,212 thousand in the same period last year[11] - Basic and diluted loss per share was RMB 0.29, an improvement from RMB 0.36 in the previous year[11] - The company reported a net loss before tax of RMB 6,939 thousand, slightly improved from RMB 7,792 thousand in the previous year[11] - Other income for the period was RMB 2,830 thousand, down from RMB 4,632 thousand in the same period last year[11] - The company reported a total of RMB 140,794,000 in revenue recognized at a point in time, compared to RMB 92,318,000 in the previous year, reflecting a growth of 7.2%[55] - Reportable segment profit for the same period was RMB 27,527 thousand, up from RMB 24,509 thousand in 2020, reflecting an increase of 8.2%[64] Cost Management and Operational Focus - The company is focusing on cost management strategies to improve profitability in the upcoming quarters[9] - Future outlook indicates a cautious approach due to market uncertainties, with plans to enhance operational efficiency and explore new market opportunities[9] - The company is engaged in the manufacturing and sales of plastic injection molded products and electronic assembly, indicating ongoing operational focus despite financial challenges[37] Assets and Liabilities - Total assets decreased from RMB 629,340 thousand as of July 31, 2020, to RMB 520,230 thousand as of January 31, 2021, representing a decline of approximately 17.4%[19] - Non-current assets decreased from RMB 308,145 thousand to RMB 273,530 thousand, a reduction of about 11.2%[19] - Current assets decreased from RMB 294,566 thousand to RMB 212,085 thousand, reflecting a decrease of approximately 28.0%[19] - Total liabilities decreased from RMB 272,626 thousand to RMB 170,136 thousand, a decline of about 37.5%[21] - Cash and cash equivalents decreased significantly from RMB 104,430 thousand to RMB 49,334 thousand, a drop of approximately 52.8%[19] - The company’s equity attributable to owners decreased from RMB 356,714 thousand to RMB 350,094 thousand, a slight decline of about 1.8%[19] - Total borrowings amounted to RMB 60,326,000 as of January 31, 2021, down from RMB 128,554,000 as of July 31, 2020, representing a decrease of about 53%[119] - Accounts payable decreased to RMB 32,521,000 as of January 31, 2021, from RMB 58,107,000 as of July 31, 2020, indicating a reduction of approximately 44.3%[121] Revenue Breakdown - Revenue from plastic injection molding was RMB 90,806,000, down 9.2% from RMB 100,039,000 year-on-year[55] - Revenue from electronic assembly products was RMB 48,681,000, a significant decline of 62.4% from RMB 129,255,000 in the previous year[55] - Revenue from mold design and manufacturing was RMB 1,307,000, a decrease of 91.1% compared to RMB 14,692,000 for the same period last year[55] - Revenue from mainland China was RMB 86,077 thousand, down 15.2% from RMB 101,495 thousand in the previous year[67] - Revenue from Europe increased significantly to RMB 31,356 thousand, compared to RMB 6,616 thousand in the previous year, marking a growth of 373.5%[67] Financial Costs and Expenses - Net finance costs decreased to RMB 3,973 thousand from RMB 5,716 thousand, indicating a reduction of 30.6%[11] - The cost of sales for the period was RMB 111,591 thousand, down from RMB 216,425 thousand in the previous year, a decrease of 48.7%[73] - Operating expenses decreased from RMB 34,850,000 to RMB 29,810,000, a reduction of RMB 5,040,000[142] - Selling expenses decreased by RMB 3,050,000 or 49.11%, totaling RMB 3,160,000[146] - General and administrative expenses were RMB 26,650,000, a decrease of RMB 1,990,000 or 6.95% compared to RMB 28,640,000[149] Governance and Compliance - The company has complied with the corporate governance code as per the listing rules, except for the separation of roles between the chairman and the CEO[181] - The company has adopted a securities trading code for its directors and senior management, in line with the listing rules[182] - The company will regularly review the effectiveness of its governance arrangements[181] - No directors were found to have violated the securities trading code during the reporting period[182] Shareholder Information - As of January 31, 2021, the company’s director Ma Jinlong holds 158,904,532 shares, representing 6.89% of the company[169] - The director Yan Senyan owns 44,671,395 shares, which is 1.94% of the company[171] - Major shareholder VS Berhad holds 1,000,109,963 shares, accounting for 43.34% of the company[180]
威铖国际(01002) - 2021 - 中期财报