Financial Performance - Revenue increased by approximately RMB 165.9 million or about 14.3% to approximately RMB 1,324.4 million for the six months ended June 30, 2021[13] - The company recorded a profit of approximately RMB 52.9 million for the period, compared to a loss of approximately RMB 125.6 million in the same period of 2020[13] - Net profit margin was approximately 4.0%, while the net loss margin for the same period in 2020 was approximately 10.8%[13] - Earnings per share were RMB 2.95, compared to a loss per share of RMB 7.01 in the first half of 2020[13] - Revenue for the period was RMB 1,324,369 thousand, compared to RMB 1,158,509 thousand in the previous year, representing an increase of approximately 14.3%[24] - The company reported a pre-tax profit of RMB 63,366 thousand, a significant recovery from a pre-tax loss of RMB 129,870 thousand in the previous year[24] - Net profit for the period was RMB 52,899 thousand, compared to a net loss of RMB 125,624 thousand in the previous year, marking a turnaround[24] - Basic and diluted earnings per share were both RMB 2.95, recovering from a loss of RMB 7.01 per share in the previous year[24] Gross Profit and Margins - Gross profit margin decreased by approximately 2.3 percentage points to about 15.6%[13] - Gross profit for the period was RMB 206,724 thousand, slightly down from RMB 207,837 thousand, indicating a marginal decrease of 0.5%[24] - The gross profit for the group was RMB 206,724 thousand, with a gross margin of approximately 15.6%[47] - Gross profit decreased by approximately RMB 1,100,000 or 0.5% to RMB 206,700,000, with a gross margin decline from 17.9% in 2020 to 15.6% in 2021[153] Cash Flow and Financial Position - Cash and cash equivalents at the end of the period were RMB 510,270 thousand, down from RMB 686,988 thousand at the beginning of the period[37] - The company incurred a net cash outflow from operating activities of RMB 155,598 thousand, an improvement from RMB 183,011 thousand in the previous year[37] - Total assets less current liabilities amounted to RMB 3,469,931 thousand, compared to RMB 3,416,397 thousand in the previous year, reflecting a growth of approximately 1.6%[27] - The company raised new bank borrowings of RMB 700,000 thousand during the period, while repaying RMB 680,000 thousand[37] Trade Receivables and Impairment - Trade receivables impairment losses significantly decreased compared to the same period in 2020, with no goodwill impairment losses recorded[12] - Expected credit loss under the impairment model showed a significant reduction in trade receivables impairment loss to RMB (33,648,000) in the first half of 2021 from RMB (136,419,000) in 2020, a decrease of approximately 75.7%[62] - The trade receivables balance as of June 30, 2021, was RMB 2,213,103,000, down from RMB 2,470,694,000 at the end of 2020, indicating a decrease of 10.4%[83] - The overdue trade receivables exceeding 90 days amounted to RMB 1,927,905,000, compared to RMB 1,847,247,000 at the end of 2020, representing an increase of 4.4%[83] Research and Development - Research and development expenses amounted to RMB 30,744 thousand, reflecting the company's commitment to innovation and product development[47] - R&D expenses increased by approximately RMB 2,000,000 or 6.9% to RMB 30,700,000, mainly due to rising research material costs[162] - The company is actively developing millimeter-wave products, with a market potential estimated at approximately USD 104 billion by 2034 in China, enhancing its product portfolio and gross margin[126] - The company has secured 173 patents and developed 66 new products as of June 30, 2021[138] Market and Product Development - The company is focused on market expansion and new product development as part of its growth strategy[13] - The company is exploring external processing capabilities for mass production of millimeter-wave products, aiming to enhance its competitive advantage in the market[126] - The telecommunications industry is expected to experience an upward trend due to recovering global economic conditions and increasing domestic market demand[141] - The company is focusing on 5G infrastructure opportunities, anticipating significant growth in the 5G base station market[141] Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2021, compared to zero in the same period of 2020[13] - The company’s issued and fully paid shares remained at 1,791,500,000 as of June 30, 2021, unchanged from previous periods[96] - The largest shareholder, Trigiant Investments, holds 523,521,750 shares, representing 29.22% of the total[192] - Easy Beauty Limited and Artemis Delight Limited each hold 428,000,000 shares, representing 23.89% of the total[192] Corporate Governance - The company has complied with the corporate governance code, except for the separation of the roles of chairman and CEO, which are currently held by the same individual[179] - The company has not engaged in any significant transactions with related parties during the reporting period[119] - The company has adopted a share option scheme to incentivize and reward eligible participants for their contributions to the group[183]
俊知集团(01300) - 2021 - 中期财报