Financial Performance - Revenue for the six months ended June 30, 2021, increased by 53.8% to RMB 720.5 million compared to RMB 468.4 million for the same period in 2020[9]. - Adjusted profit for the six months ended June 30, 2021, was RMB 72.7 million, compared to a loss of RMB 23.3 million in the same period of 2020[11]. - Gross profit for the six months ended June 30, 2021, was RMB 219.4 million, a 225.5% increase from RMB 67.4 million in the same period of 2020, resulting in a gross margin of approximately 30.5%[35]. - The company reported a profit attributable to shareholders of RMB 62.8 million for the six months ended June 30, 2021, compared to a loss of RMB 47.8 million in the same period of 2020[38]. - The company achieved a profit before tax of RMB 66,463,000, recovering from a loss of RMB 57,380,000 in the prior year[84]. - The total comprehensive income for the period was RMB 56,298,000, compared to a loss of RMB 37,398,000 in the same period last year[86]. - The company reported a basic and diluted earnings per share of 6 cents, compared to a loss of 5 cents per share in the previous year[86]. Customer and Contract Metrics - The number of paid customers increased to 872 as of June 30, 2021, from 727 in the same period of 2020, including 264 customers from the financial sector[12]. - The total value of new contracts signed (including renewals) for the six months ended June 30, 2021, was RMB 744 million, up from RMB 396 million in the same period of 2020[12]. - The total value of new contracts signed (including renewals) for the user operation SaaS business reached approximately RMB 74.4 million, a significant increase from RMB 39.6 million in the same period last year[21]. - The company signed 118 new contracts with banking clients in the first half of 2021, with a total value of RMB 33.9 million, compared to 97 contracts worth RMB 14.8 million in the same period of 2020[22]. User Engagement - Daily active users reached 26.7 million, while monthly active users increased to 391 million as of June 30, 2021, compared to 25.1 million and 364.5 million, respectively, in 2020[13]. - The click-through rate improved to 28.3% for the six months ended June 30, 2021, compared to 26.7% in the same period of 2020[13]. - The average revenue per click under the CPC model remained stable at RMB 0.31 for both periods[13]. Revenue Breakdown - Revenue from interactive advertising business was RMB 651,929,000, up 48.0% from RMB 440,028,000 in the previous year[106]. - Revenue from user operation SaaS platform business reached RMB 68,560,000, a significant increase of 142.5% compared to RMB 28,353,000 in the prior period[106]. - Revenue from the user operation SaaS platform business was RMB 68.6 million for the six months ended June 30, 2021, compared to RMB 28.4 million in the same period of 2020[12]. Operational Changes - The company plans to continue expanding its market presence and enhancing its product offerings in the coming periods[12]. - The company plans to upgrade its user operation SaaS services to include three product tiers: basic, premium, and VIP customized versions[25]. - The company plans to deepen its focus on vertical industry user operation SaaS business and innovate its product offerings to create long-term value for sectors like banking and retail[52]. Cash Flow and Financial Position - Cash inflow from operating activities was RMB 18.9 million, reversing from a cash outflow of RMB 1.9 million in the first half of 2020[40]. - The company held cash and cash equivalents of approximately RMB 289.4 million as of June 30, 2021, compared to RMB 111.7 million a year earlier[42]. - The net cash flow from operating activities for the six months ended June 30, 2021, was RMB 18,915 thousand, a significant improvement from a net outflow of RMB (1,932) thousand in the same period of 2020[95]. - Cash and cash equivalents increased significantly to RMB 289,418 thousand, up 114.4% from RMB 135,269 thousand as of December 31, 2020[87]. Research and Development - Research and development expenses increased by 34.2% to RMB 78.9 million, with R&D staff accounting for 52.6% of total employees as of June 30, 2021[31]. - Research and development costs for the period were RMB 78,879,000, an increase of 34.2% from RMB 58,782,000 in the previous year[109]. Shareholder Information - The company repurchased a total of 500,000 shares at a total cost of HKD 1,108,892.00 during the six months ended June 30, 2021, reflecting confidence in its future prospects[61]. - The company has a stock option plan approved by shareholders, allowing for the issuance of up to 10% of the total issued shares as options, which amounts to 111,111,120 shares[79]. - The company granted stock options totaling 4,140,000 shares on March 1, 2020, and 7,450,000 shares on May 1, 2021, with an exercise price of zero[135][136]. Legal and Compliance - The company is currently defending against a claim in the Hong Kong High Court, with the maximum amount of damages claimed being approximately HKD 61.0 million[47]. - The maximum amount claimed in a lawsuit against the company is approximately HKD 61.0 million, with the company believing it has sufficient grounds for defense[146]. Asset and Liability Management - Total liabilities decreased to RMB 300,459 thousand, down 0.2% from RMB 303,188 thousand as of December 31, 2020[89]. - The net asset value increased to RMB 1,355,634 thousand, reflecting a growth of 5.1% from RMB 1,290,392 thousand at the end of 2020[89]. - Trade receivables rose to RMB 116,253 thousand, representing a 25% increase from RMB 93,052 thousand in the previous period[87]. Market and Economic Conditions - The risk-free interest rate decreased from 2.94% in 2020 to 2.85% in 2021[153]. - The stock volatility increased from 44.75% in 2020 to 46.09% in 2021[153]. - The discount for lack of marketability (DLOM) decreased from 9% in 2020 to 5% in 2021[153].
兑吧(01753) - 2021 - 中期财报