Revenue Performance - The group recorded a revenue of approximately RMB 37.7 million for the period, representing an increase of about 1.4% compared to RMB 37.2 million in the same period of 2020[14]. - The automatic meter reading and other business segment achieved a revenue of approximately RMB 30.7 million, up approximately 87.0% from RMB 16.4 million in the same period of 2020, accounting for about 81.4% of the group's total revenue[14]. - Revenue increased from approximately RMB 37.2 million in the same period of 2020 to approximately RMB 37.7 million, an increase of about 1.4%, driven by an 87.0% increase in revenue from the automatic meter reading and other business segments[22]. - For the six months ended June 30, 2021, the revenue from the Automatic Meter Reading and Other Services segment was RMB 30,673,000, while the Manufacturing and Industrial Automation segment generated RMB 7,032,000, totaling RMB 37,705,000[131]. - The revenue from power line carrier chips was RMB 12,818,000, up from RMB 5,141,000 in the previous year, representing a growth of 149%[125]. - The revenue from automatic meter maintenance services increased to RMB 9,326,000 from RMB 4,761,000, marking a growth of 96%[125]. Profitability and Losses - The loss attributable to the company's owners decreased from approximately RMB 56.4 million in the same period of 2020 to approximately RMB 17.5 million, mainly due to a reversal of impairment losses on financial assets of about RMB 12.7 million[18]. - Gross profit increased from approximately RMB 11.9 million in the same period of 2020 to approximately RMB 16.9 million, an increase of about 42.5%, with the gross profit margin rising from about 32.0% to approximately 44.9%[23]. - The company reported a net loss attributable to owners of RMB 17,521,000, a reduction from RMB 56,418,000 in the prior year, reflecting a decrease of approximately 68.9%[99]. - The company reported a net loss before tax of RMB (22,230,000) for the six months ended June 30, 2021, compared to a loss of RMB (67,392,000) in 2020[136]. - Total comprehensive loss for the period was RMB 13,760 thousand, significantly reduced from RMB 57,426 thousand in the previous year, indicating a 76.0% decrease[101]. Expenses and Cost Management - Selling and marketing expenses increased by approximately 8.4% from about RMB 8.0 million in the same period of 2020 to approximately RMB 8.6 million, primarily due to increased marketing and promotional activities[26]. - General and administrative expenses decreased by approximately 29.3% from about RMB 34.9 million in the same period of 2020 to approximately RMB 24.7 million, mainly due to reduced intangible asset amortization and cost control measures[29]. - Research and development expenses decreased by approximately 17.8% from about RMB 11.0 million in the same period of 2020 to approximately RMB 9.1 million, due to strict cost control measures and a reduction in the R&D team size[30]. - The company has implemented cost control measures and is focusing on timely collection of receivables to generate sufficient operating cash flow[115]. Financial Position and Assets - As of June 30, 2021, the group's current assets were approximately RMB 311.9 million, an increase from RMB 281.6 million as of December 31, 2020[33]. - The group's cash and cash equivalents totaled approximately RMB 147.1 million, up from RMB 121.7 million as of December 31, 2020[33]. - Total assets as of June 30, 2021, amounted to RMB 535,304 thousand, compared to RMB 518,349 thousand as of December 31, 2020, showing a growth of 3.0%[104]. - The company’s total liabilities reached RMB 535,304 thousand, up from RMB 518,349 thousand, indicating a 3.0% increase[106]. - Trade receivables as of June 30, 2021, were RMB 103,338,000, down from RMB 163,125,000 on December 31, 2020, indicating a decrease of about 36.7%[169]. Strategic Initiatives and Market Position - The group continues to explore the industrial automation systems field, particularly in maintenance and safety integrity systems for the oil and petrochemical industries, with the market size for smart manufacturing solutions in China expected to reach RMB 283.7 billion in 2021[12]. - The group is leveraging its core technology capabilities to explore various aspects of the smart manufacturing sector, capitalizing on the significant market potential[12]. - The company intends to form strategic alliances with internationally recognized system integrators to expand its smart manufacturing and industrial automation business segments[52]. - The company plans to enhance market promotion of broadband power line products and expand into more provincial markets, aiming to strengthen competitiveness in the domestic market[51]. Corporate Governance and Shareholder Information - The company has adopted the corporate governance code as per the listing rules, with some deviations noted[82]. - The company did not recommend the payment of an interim dividend for the period[81]. - The total number of issued shares was 986,619,071, with significant shareholdings reported by major stakeholders[55][62]. - The company has a total of 64,500,000 shares available for issuance under the share option plan, representing approximately 6.54% of the issued share capital as of June 30, 2021[77]. Debt and Financing - Total interest-bearing liabilities amounted to approximately RMB 260.2 million as of June 30, 2021, compared to RMB 254.3 million as of December 31, 2020[34]. - The company issued convertible bonds totaling HKD 150 million with an annual coupon rate of 4%, aimed at raising funds for the acquisition of a subsidiary[41]. - The company has extended the maturity date of convertible bonds by an additional 12 months, from August 13, 2021, to August 13, 2022[115]. - The company is considering further fundraising through equity financing to address financial obligations[118].
瑞斯康集团(01679) - 2021 - 中期财报