Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 99,214,000, compared to RMB 2020 figures[5]. - Loss before taxation for the period was RMB 19,134,000, with a total comprehensive loss of RMB 19,175,000[5]. - Basic and diluted loss per share was RMB 2.397[5]. - For the six months ended June 30, 2021, total revenue reached RMB 99.214 million, representing a 19% increase from RMB 83.416 million in the same period of 2020[36]. - The loss for the period attributable to the owners of the Company was RMB (19,175,000) for the six months ended June 30, 2021, compared to RMB (373,000) for the same period in 2020[92]. - The Group recorded a loss and total comprehensive expense of approximately RMB 19.2 million for the six months ended June 30, 2021, compared to a loss of approximately RMB 0.4 million in 2020[169]. Revenue Breakdown - Transportation services generated RMB 41.119 million, up 27% from RMB 32.496 million year-over-year[36]. - Warehousing services increased by 23% to RMB 25.265 million, compared to RMB 20.555 million in the previous year[36]. - In-plant logistics services saw a slight increase of 7% to RMB 32.072 million, up from RMB 30.017 million[36]. - Customization services grew significantly by 117% to RMB 758, compared to RMB 348 in the prior year[36]. - Revenue recognized over time amounted to RMB 98.456 million, which is a 19% increase from RMB 83.068 million in the same period last year[39]. - For the six months ended June 30, 2021, total revenue was RMB 99,214,000, with external sales from transportation services at RMB 41,119,000, warehousing services at RMB 25,265,000, in-plant logistics services at RMB 32,072,000, and customization services at RMB 758,000[63]. Assets and Liabilities - Net current assets increased to RMB 107,361,000 from RMB 98,147,000 as of December 31, 2020[6]. - Total assets less current liabilities decreased to RMB 122,729,000 from RMB 171,265,000 as of December 31, 2020[6]. - Cash and cash equivalents at the end of the period were RMB 71,686,000, down from RMB 74,965,000 at the beginning of the period[13]. - Trade receivables from contracts with customers amounted to RMB 68,662,000 as of June 30, 2021, down from RMB 70,519,000 as of December 31, 2020, representing a decrease of approximately 2.5%[104]. - Trade payables totaled RMB 31,338,000 as of June 30, 2021, up from RMB 26,716,000 as of December 31, 2020, indicating an increase of approximately 17%[109]. - The Group's debt ratio was 17.6% as of June 30, 2021, significantly down from 45.9% at December 31, 2020[174]. Operating Expenses - Total employee benefits expenses amounted to RMB 34,636,000 for the six months ended June 30, 2021, slightly down from RMB 35,590,000 in 2020[86]. - The Group's financial costs for the six months ended June 30, 2021, included total borrowing costs of RMB 1,118,000, down from RMB 1,363,000 in 2020[73]. - Other expenses increased to approximately RMB 41.9 million for the six months ended June 30, 2021, from RMB 12.9 million in 2020, primarily due to costs related to a new warehouse in Dongguan and increased asset impairment provisions[168]. - Sub-contracting expenses amounted to approximately RMB33.9 million for the six months ended June 30, 2021, an increase from approximately RMB22.0 million in the same period of 2020[160]. Business Operations - The company continues to focus on logistics services as its primary business[17]. - The Group's revenue is primarily derived from operations in the People's Republic of China, with non-current assets also located in the PRC[72]. - The Group's performance obligations include transportation, warehousing, in-plant logistics, and customization services, with revenue recognized over time for transportation, warehousing, and in-plant logistics services[54]. - The Group's logistics services include transportation, warehousing, in-plant logistics, and customization services, providing a competitive advantage over other providers[136][139]. - The Group continues to assess the impact of the COVID-19 pandemic on its operations and financial performance, remaining cautious about potential future outbreaks and government measures[147]. Future Outlook - The Group expects to actively diversify logistics services to accommodate potential changes in customer demand[150]. - The Group will leverage economic development in the Greater Bay Area to extend business opportunities[150]. - The Group anticipates continued negative impacts on revenue due to the ongoing effects of the COVID-19 pandemic[151]. - The Group's financial resources are considered sufficiently strong to navigate through the pandemic crisis, indicating a return to a growth track[147]. Shareholder Information - The shares of the company have been listed on the Main Board of The Stock Exchange of Hong Kong Limited since December 19, 2019[17]. - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2021, consistent with the previous year[132]. - The weighted average number of ordinary shares for the purpose of basic loss per share calculation was 800,000,000 for both 2021 and 2020[97]. - The total number of issued and fully paid ordinary shares remained at 800,000,000 as of June 30, 2021[117]. Capital Expenditures - The Group has signed service contracts for upgrading one of its warehouses, with initial upgrade works completed[192]. - Upgrading one of the warehouses by installing automated storage facilities and systems with a planned use of HK$18.0 million[199]. - Expanding existing in-plant logistics business in the North China and East China regions with a planned use of HK$6.0 million[199]. - Expanding vehicle fleet with a planned use of HK$4.0 million, actual use was HK$3.3 million[199]. - Enhancing sales and marketing efforts with a planned use of HK$4.0 million[199]. - General working capital with a planned use of HK$2.8 million[199].
乐氏国际控股(01529) - 2021 - 中期财报