Revenue Performance - Revenue from the marble slabs business for HY2021 was approximately RMB 7.1 million, a decrease of RMB 19.7 million or 73.4% compared to RMB 26.8 million for HY2020[13] - Revenue from the marble slags business for HY2021 was approximately RMB 28.3 million, an increase of RMB 15.6 million or 123.5% compared to RMB 12.7 million for HY2020[18] - The Group's revenue decreased by approximately RMB4.1 million or 10.3% from approximately RMB39.5 million for HY2020 to approximately RMB35.4 million for HY2021[31] - Sales of marble slabs decreased by approximately RMB19.7 million from approximately RMB26.8 million for HY2020 to approximately RMB7.1 million for HY2021, a decline of 73.4%[35] - Sales of marble slags increased by approximately RMB15.6 million from approximately RMB12.7 million for HY2020 to approximately RMB28.3 million for HY2021, an increase of 123.5%[31] - Revenue for the six months ended June 30, 2021, was RMB 35,420,000, a decrease of 10.5% from RMB 39,487,000 in the same period of 2020[134] - For the six months ended June 30, 2021, the Group's revenue from marble slags was RMB 28,287,000, while revenue from marble slabs was RMB 7,133,000, totaling RMB 35,420,000, a decrease of 10.5% compared to RMB 39,487,000 in the same period of 2020[173] Profitability and Loss - The Group's gross profit increased by approximately RMB4.4 million or 169.2% from approximately RMB2.6 million for HY2020 to approximately RMB7.0 million for HY2021[38] - Gross profit increased from approximately RMB2.6 million in HY2020 to approximately RMB7.0 million in HY2021, representing a growth of 169.2%[44] - Gross profit margin rose by approximately 13.3 percentage points from about 6.5% in HY2020 to approximately 19.8% in HY2021, primarily due to an increase in the gross profit margin of marble slags[44] - The Group incurred a loss of approximately RMB15.9 million for HY2021, a decrease of approximately RMB2.0 million from a loss of RMB17.9 million in HY2020[43] - The company reported a total comprehensive loss of RMB 16,401,000 for the six months ended June 30, 2021, compared to a loss of RMB 16,014,000 for the same period in 2020[139] - Loss before tax narrowed to RMB 15,723,000 from RMB 17,854,000 year-on-year, indicating a reduction in operational losses[134] - For the six months ended June 30, 2021, the company reported a loss of approximately RMB 15,909,000, compared to a loss of RMB 17,854,000 for the same period in 2020, indicating a 10.9% improvement in loss[187][191] Cash Flow and Financial Position - Cash and bank balances increased to approximately RMB9.6 million as of June 30, 2021, up from RMB4.3 million as of December 31, 2020[50] - Trade receivables decreased to RMB 60,666,000 from RMB 78,852,000, showing improved cash flow management[135] - Cash and cash equivalents increased to RMB 9,593,000 from RMB 4,254,000, indicating a stronger liquidity position[135] - The net cash generated from operating activities for the six months ended June 30, 2021, was RMB 6,562,000, compared to a net cash used of RMB 31,657,000 for the same period in 2020[142] - The cash and cash equivalents at the end of the reporting period on June 30, 2021, were RMB 9,593,000, down from RMB 20,568,000 at the end of June 30, 2020[142] - Net assets decreased to RMB 296,684,000 from RMB 313,085,000, reflecting the impact of losses during the period[137] Operational Challenges and Strategies - The Group is focusing on a conservative approach to additional investments in working capital due to anticipated lower credit quality of customers[13] - The Group is facing challenges in rolling out the GCC business plan due to the Covid-19 pandemic and difficulties in securing cooperation partners[19] - The demand for marble slags remained stable, primarily due to its use as a raw material for manufacturing ground calcium carbonate (GCC)[18] - The Group aims to strengthen production and operations while expanding the client base to improve the performance of the marble business[27] - The Group remains vigilant against unpredictable international developments that might adversely affect its business[27] Corporate Governance - The Company complied with the Corporate Governance Code for HY2021, with some deviations noted regarding the roles of chairman and CEO[85][86] - The Board temporarily assigned independent members to fulfill the roles of chairman and CEO due to the absence of formal appointments during HY2021[86] - The company has complied with all code provisions of the Corporate Governance Code throughout HY2021, except for deviations from provisions A.2.1 and A.1.8[93] - As of June 30, 2021, the board consists of four executive directors and three independent non-executive directors[96] - The audit committee, comprising three independent non-executive directors, has reviewed the unaudited interim results for HY2021 and recommended their adoption to the board[95] Share Options and Dividends - The Board does not recommend the payment of an interim dividend for HY2021[129] - The company has not granted any share options under the New Share Option Scheme since its adoption on June 29, 2020[119] - The New Share Option Scheme provides the company with more flexibility in long-term planning for granting options to eligible persons over a longer period[118] - The company terminated the 2011 Share Option Scheme on January 24, 2011, to adopt the New Share Option Scheme[117] - The company did not recommend any dividend payment for the six months ended June 30, 2021, and 2020[189][193]
中国金石(01380) - 2021 - 中期财报