Financial Performance - The company's revenue for the six months ended June 30, 2021, was approximately RMB 135,442,000, representing a 97.8% increase compared to RMB 68,464,000 for the same period in 2020[12]. - Gross profit increased by 59.1% to approximately RMB 30,010,000, up from RMB 18,863,000 in the previous year[12]. - Net profit for the period was approximately RMB 13,234,000, reflecting a significant growth of 121.0% compared to RMB 5,988,000 in the prior year[12]. - Operating profit for the same period was RMB 19,257,000, compared to RMB 9,265,000 in the previous year, indicating a year-on-year increase of 107.5%[71]. - The net profit for the period was RMB 13,234,000, up from RMB 5,988,000 in the prior year, reflecting a growth of 120.5%[71]. - The overall operating profit before tax for the six months ended June 30, 2021, was RMB 18,896,000, compared to RMB 9,130,000 for the same period in 2020, indicating a year-on-year increase of approximately 106.5%[94][96]. Revenue Breakdown - Container handling services recorded an operational volume of 2,304,399 TEUs, a 57.3% increase from 1,464,861 TEUs in the previous year[24]. - Revenue from port logistics services reached RMB 66,829,000, a 47.1% increase from RMB 45,434,000 in the same period last year[25]. - Heavy truck tire revenue for the first half of 2021 was approximately RMB 2,849,000, a decrease of 13.4% compared to RMB 3,289,000 in the same period of 2020[40]. - Construction materials trade revenue surged to RMB 50,820,000 in the first half of 2021, reflecting a significant increase of 1,354.1% from RMB 3,495,000 in the same period of 2020[40]. - The revenue from the Import and Export Agency Services segment was RMB 4,272,000, while the Land Container and Raw Stone Transportation Services segment generated RMB 10,672,000, indicating a decrease of 18.5% and 15.4% respectively compared to the previous year[94][96]. - The revenue from the In-port Logistics Services segment was RMB 29,724,000, and the In-port Container Transportation Services segment contributed RMB 37,105,000, both showing growth compared to the previous year[94]. Expenses and Costs - Employee costs for the first half of 2021 amounted to approximately RMB 42,638,000, up from RMB 35,607,000 in the same period of 2020[41]. - Administrative expenses increased to approximately RMB 11,204,000 in the first half of 2021, compared to RMB 8,937,000 in the same period of 2020[44]. - Tax expenses for the first half of 2021 were approximately RMB 5,662,000, an increase from RMB 3,142,000 in the same period of 2020[46]. - The company incurred total financing costs of RMB 361,000 for the six months ended June 30, 2021, compared to RMB 135,000 in 2020, representing an increase of 167.4%[108]. Assets and Liabilities - The group had net current assets of approximately RMB 120,699,000 as of June 30, 2021, compared to RMB 105,573,000 as of December 31, 2020[48]. - The total assets minus current liabilities as of June 30, 2021, were RMB 155,003,000, an increase from RMB 143,757,000 at the end of the previous year[74]. - The company’s total liabilities decreased to RMB 141,896 thousand as of June 30, 2021, from RMB 128,718 thousand as of January 1, 2021, indicating a reduction in financial obligations[77]. - Trade receivables increased to RMB 85,446,000 as of June 30, 2021, up from RMB 61,028,000 as of December 31, 2020, reflecting a growth of approximately 40%[128]. Strategic Initiatives - The growth in revenue and profit was primarily driven by the profitability of the construction materials supply chain operations in Chengdu, Sichuan, which recorded net profit compared to a net loss in the same period last year[13]. - The company aims to double its business scale in the Chengdu area of Sichuan Province by expanding its supply chain operations in building materials, specifically sand and cement trade[65]. - The company plans to invest in new container handling equipment and develop a new empty container yard in Xiamen Haicang Port area[16]. - The company is actively seeking land resources in Xiamen to develop a modern logistics center, enhancing its competitive edge in foreign trade services[67]. Shareholder Information - As of June 30, 2021, the company had issued 1,000,000,000 shares[151]. - Mr. Cheng Youguo held 562,500,000 shares, representing 56.25% of the company's equity[150]. - The beneficial owner of the major shareholder, Rongxing Investment Limited, is Mr. Cheng Youguo, who fully owns the company[155]. Governance and Compliance - The company has adopted the principles of the Corporate Governance Code as per the Listing Rules and has complied with all applicable code provisions as of June 30, 2021[161]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results for the six months ended June 30, 2021[162].
象兴国际(01732) - 2021 - 中期财报