Financial Performance - For the six months ended June 30, 2019, the company reported total revenue of RMB 0 thousand, a significant decrease from RMB 248,721 thousand in the same period of 2018[3]. - The cost of sales for the same period was RMB (254,153) thousand, resulting in a gross loss of RMB (5,432) thousand[3]. - Other income increased to RMB 13,516 thousand from RMB 1,601 thousand year-on-year[3]. - The company recorded a loss before tax of RMB (5,735) thousand, compared to a loss of RMB (22,050) thousand in the previous year, indicating an improvement[3]. - The total comprehensive loss for the period was RMB (3,999) thousand, a reduction from RMB (23,758) thousand in the prior year[5]. - Basic and diluted loss per share was RMB (0.65), an improvement from RMB (2.54) in the same period of 2018[5]. - The company incurred a loss of RMB 5,735 thousand for the six months ended June 30, 2019, compared to a loss of RMB 22,050 thousand in the previous period[10]. - The group reported a loss before tax of RMB (5,735,000) for the six months ended June 30, 2019, compared to a loss of RMB (22,050,000) for the same period in 2018, showing an improvement in performance[40]. - The company reported a loss attributable to owners of approximately RMB 5,700,000, significantly reduced from a loss of RMB 22,100,000 in the previous year[71]. Assets and Liabilities - Non-current assets decreased to RMB 766,431 thousand from RMB 792,724 thousand as of December 31, 2018[7]. - Current assets increased to RMB 126,153 thousand from RMB 101,936 thousand as of December 31, 2018[7]. - Total liabilities decreased to RMB 52,558 thousand from RMB 59,626 thousand as of December 31, 2018[8]. - The company's equity attributable to owners decreased slightly to RMB 827,329 thousand from RMB 831,265 thousand as of December 31, 2018[8]. - The company's total assets as of June 30, 2019, were RMB 830,796,000, slightly down from RMB 834,732,000 as of December 31, 2018[28]. - The group’s total liabilities as of June 30, 2019, were RMB 40,000 for the assets classified as held for sale[54]. Cash Flow - The company reported a net cash inflow from operating activities of RMB 10,270 thousand for the six months ended June 30, 2019, compared to a net cash outflow of RMB 133,177 thousand in the same period of 2018[12]. - The company had cash and cash equivalents of RMB 21,418 thousand at the end of the reporting period, an increase from RMB 8,168 thousand at the beginning of the period[12]. - The company’s financing activities generated a net cash inflow of RMB 1,231 thousand, significantly lower than the RMB 84,310 thousand generated in the same period of 2018[12]. - As of June 30, 2019, the company had cash and bank balances of approximately RMB 21,400,000, an increase from RMB 8,200,000 as of December 31, 2018[72]. Revenue Sources - The group's revenue from customer contracts for the six months ended June 30, 2019, was RMB 0, compared to RMB 248,721,000 for the same period in 2018, indicating a significant decline[34]. - Revenue from external customers in Hunan Province was RMB 248,721,000 for the six months ended June 30, 2019, compared to RMB 199,236,000 in the same period of 2018[29]. - The company did not record any revenue from its core business during the review period, compared to RMB 248,700,000 in the same period last year, but generated approximately RMB 12,016,000 from its newly launched lending business[70]. Employee and Operational Costs - The total employee costs for the six months ended June 30, 2019, were RMB 2,220,000, significantly lower than RMB 11,354,000 in the same period of 2018[40]. - The company's administrative expenses increased to approximately RMB 15,700,000, up from RMB 11,800,000 in the previous year, primarily due to the lack of operational income during the review period[71]. Corporate Governance - The company has adopted a standard code for securities trading by directors, confirming compliance by all directors during the six months ended June 30, 2019[101]. - The company has implemented corporate governance practices in accordance with the listing rules, with ongoing reviews to improve standards[102]. - The audit committee is composed of three independent non-executive directors, with a focus on financial controls and risk management[108]. - Changes in the board included the resignation of independent non-executive director Deng Pingping and the appointment of Chen Yanxing as the new audit committee chairman[109]. Future Plans and Investments - The management is in the planning stage to establish its own testing laboratories at slaughterhouses in Changde and two farms in Taoyuan County, expected to be operational by the end of 2019[91]. - The company is actively exploring other potential investment opportunities to enhance shareholder value and diversify business risks[91]. - The company plans to utilize its operating income, internal resources, and bank financing for its operational and investment activities[75]. Shareholder Information - The total number of issued shares as of June 30, 2019, was 880,838,000[84]. - The average number of ordinary shares issued during the reporting period was 880,838,000, compared to 868,470,000 in the same period of 2018[42]. - The company did not declare or pay any interim dividends for the six months ended June 30, 2019, consistent with the previous year[44]. - The company has no immediate funding needs and has not established any specific plans to raise funds, but will consider various fundraising options as opportunities arise[69].
惠生国际(01340) - 2019 - 中期财报