Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 83,416,000, a decrease of 23.3% compared to RMB 108,571,000 for the same period in 2019[3]. - Profit before taxation for the period was RMB 2,428,000, down 75.6% from RMB 9,860,000 in the previous year[3]. - The company reported a total comprehensive loss of RMB 373,000 for the six months ended June 30, 2020, compared to a profit of RMB 5,892,000 in the same period of 2019[3]. - Basic loss per share was RMB (0.047) for the period, compared to earnings of RMB 0.740 per share in the previous year[3]. - For the six months ended June 30, 2020, the company reported a loss of RMB 373,000 compared to a profit of RMB 5,892,000 in the same period of 2019, indicating a significant decline in performance[87]. Revenue Breakdown - For the six months ended June 30, 2020, total revenue was RMB 83,416,000, with transportation services contributing RMB 32,496,000, warehousing services RMB 20,555,000, in-plant logistics services RMB 30,017,000, and customisation services RMB 348,000[68]. - Transportation services generated RMB 32.496 million, down 40.7% from RMB 54.818 million in the previous year[41]. - Warehousing services revenue increased to RMB 20.555 million, up 6.5% from RMB 19.306 million in 2019[41]. - In-plant logistics services revenue was RMB 30.017 million, a decrease of 11.9% compared to RMB 34.044 million in 2019[41]. - Customization services revenue decreased to RMB 348, down 13.7% from RMB 403 in the previous year[41]. Cash Flow and Assets - Net cash from operating activities was RMB 14,286,000, a decrease from RMB 20,791,000 in the same period of 2019[19]. - Cash and cash equivalents at the end of the period increased to RMB 73,134,000 from RMB 64,794,000 at the end of June 30, 2019[19]. - Total assets less current liabilities amounted to RMB 181,914,000 as of June 30, 2020, slightly down from RMB 183,850,000 at the end of 2019[6]. - Net assets increased to RMB 131,402,000 as of June 30, 2020, compared to RMB 126,163,000 at the end of 2019[6]. - Current liabilities decreased to RMB 41,469,000 from RMB 51,752,000 at the end of 2019[6]. Employee and Operational Expenses - Total employee benefits expenses amounted to RMB 35,590,000, which includes various components such as salaries and equity-settled share-based payments[82]. - Employee benefits expenses increased from approximately RMB 34.7 million for the six months ended June 30, 2019, to RMB 35.6 million for the six months ended June 30, 2020, an increase of approximately RMB 0.9 million, mainly due to equity-settled share-based payments[177]. - Sub-contracting expenses decreased from approximately RMB 35.4 million for the six months ended June 30, 2019, to RMB 22.0 million for the six months ended June 30, 2020, reflecting a decrease in revenue from transportation services[178]. - Other expenses decreased from approximately RMB 18.4 million for the six months ended June 30, 2019, to RMB 12.9 million for the six months ended June 30, 2020, primarily due to the absence of one-off professional fees incurred for the Transfer of Listing[186]. Taxation - Current tax charges for the period amounted to RMB 3,006,000, with deferred tax credits of RMB (205,000)[76]. Share Capital and Dividends - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2020, consistent with the previous year[156]. - The company’s authorized share capital remained at 10,000,000,000 shares as of June 30, 2020[142]. - The issued and fully paid share capital was 800,000,000 shares as of June 30, 2020[142]. Future Outlook and Challenges - The Group expects to continue experiencing some negative top-line financial impact due to the ongoing Pandemic[164]. - The Group will remain cautious and enhance its business continuity plans to ensure minimal disruption to customers[164]. - The Group has commenced the search for suitable replacement warehouses due to local government's land resumption plans affecting four of its warehouses[165]. - The Group aims to leverage economic development in the Greater Bay Area to extend business opportunities and diversify logistics services across a broader spectrum of industries[166]. - The Group considers its financial resources remain sufficiently strong to navigate through the pandemic crisis and resume growth thereafter[164].
乐氏国际控股(01529) - 2020 - 中期财报