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惠生国际(01340) - 2021 - 中期财报
HUISHENG INTLHUISHENG INTL(HK:01340)2021-09-24 08:36

Financial Performance - For the six months ended June 30, 2021, the company reported revenue of RMB 51,380,000, a significant increase from RMB 1,858,000 in the same period of 2020, representing a growth of approximately 2,661%[4] - The gross profit for the same period was RMB 2,277,000, compared to RMB 202,000 in 2020, indicating a substantial increase in profitability[4] - The company recorded a net loss of RMB 799,000 for the period, a decline from a profit of RMB 1,609,000 in the previous year[4] - Other comprehensive income for the period was RMB 8,810,000, compared to a loss of RMB 1,038,000 in 2020, reflecting a positive shift in foreign exchange differences[5] - The company’s basic and diluted loss per share for the period was RMB 0.14, compared to earnings of RMB 0.21 per share in the same period of 2020[5] - The group reported a net loss before tax of RMB 799,000 for the six months ended June 30, 2021, compared to a profit of RMB 4,733,000 in the same period of 2020[22] - The company reported a loss attributable to shareholders of approximately RMB 1,202,000 for the six months ended June 30, 2021, compared to a profit of RMB 1,849,000 for the same period in 2020[40] Assets and Liabilities - Total assets as of June 30, 2021, amounted to RMB 694,034,000, a decrease from RMB 700,910,000 at the end of 2020[7] - The total liabilities for the group decreased to RMB 27,254,000 as of June 30, 2021, compared to RMB 30,600,000 as of December 31, 2020, reflecting improved financial stability[25] - Total liabilities of the reportable segments decreased to RMB 27,254 thousand as of June 30, 2021, down from RMB 30,600 thousand as of December 31, 2020, a reduction of about 7.8%[27] - The total biological assets as of June 30, 2021, were valued at RMB 23,784,000, down from RMB 26,298,000 as of December 31, 2020, indicating a decrease of approximately 9.6%[46] - The expected credit loss provision for accounts receivable was RMB 1,831,000 as of June 30, 2021, down from RMB 4,342,000 as of December 31, 2020[53] Cash Flow and Liquidity - The company's cash and cash equivalents increased significantly to RMB 72,835,000 from RMB 14,936,000 at the end of 2020, showing improved liquidity[7] - The net cash generated from operating activities for the six months ended June 30, 2021, was RMB 69,013,000, a significant increase from RMB 14,814,000 in the same period of 2020, representing a growth of approximately 366%[12] - The net increase in cash and cash equivalents for the six months ended June 30, 2021, was RMB 58,111,000, compared to RMB 14,445,000 in the same period of 2020, indicating strong cash flow management[12] - As of June 30, 2021, the group had cash and bank balances of approximately RMB 72.8 million, up from RMB 14.9 million at the end of 2020[73] Revenue Segmentation - The segment revenue from pig slaughtering and meat trading was RMB 31,237,000, while the pipeline system products segment generated RMB 20,143,000, contributing to the overall revenue growth[20] - Revenue from China reached RMB 31,237 thousand for the six months ended June 30, 2021, while revenue from Japan was RMB 20,143 thousand, up from RMB 1,858 thousand in the same period of 2020[29] - The group's pork business generated revenue of approximately RMB 31.2 million, a significant recovery from zero in 2020, as operations resumed in Q4 2020[70] - The pipeline business reported revenue of approximately RMB 20.1 million, an increase of 984.12% or RMB 18.3 million compared to the same period last year[70] Operational Highlights - The company has not reported any new product launches or significant market expansions during this period[2] - There were no acquisitions or mergers disclosed in the interim report, indicating a focus on internal growth strategies[2] - The company has not reported any significant new product launches or technological advancements during the reporting period[28] - There were no acquisitions or major market expansions mentioned in the report for the current period[28] Employee and Administrative Costs - Total employee costs increased to RMB 2,538,000 in the first half of 2021 from RMB 2,149,000 in the same period of 2020, reflecting a rise of approximately 18.1%[5] - The group's administrative expenses decreased to approximately RMB 7.6 million for the six months ended June 30, 2021, down from RMB 11.4 million in the same period last year[70] Corporate Governance - The company confirmed compliance with all corporate governance code provisions during the six months ending June 30, 2021[105] - The audit committee is responsible for overseeing the financial controls, risk management, and internal control systems of the group[106] - The audit committee consists of three independent non-executive directors, with Mr. Chan Yan Hang serving as the chairman[106] - The company has adopted a standard code for securities trading by directors, which all directors confirmed compliance with during the reporting period[103] Future Outlook and Strategies - The company continues to monitor the impact of the COVID-19 pandemic on its financial performance, with potential further changes in economic conditions[62] - The management believes that the development of African swine fever vaccines and the vaccination against COVID-19 will positively impact the business, with expectations of core business resuming soon[94] - The company will continue to seek various fundraising channels and potential opportunities to expand its pipeline business sustainably[94] - The group plans to finance its operations and investments primarily through operating income, internal resources, and bank financing[74]