Revenue Performance - The printer business revenue for the six months ended June 30, 2021, was approximately RMB 138,316,000, accounting for about 97% of the total revenue and representing a 43% increase compared to the same period in 2020[8]. - Revenue from other products was approximately RMB 3,687,000, accounting for about 3% of total revenue, which is a 33% decrease compared to the same period in 2020, primarily due to reduced demand for medical masks[9]. - The company's revenue for the six months ended June 30, 2021, was approximately RMB 142,003,000, an increase of about 39% compared to the same period last year[21]. - Total revenue for the six months ended June 30, 2021, was RMB 142,003,000, an increase of 39.1% compared to RMB 102,059,000 for the same period in 2020[66]. - Revenue from printer products accounted for over 90% of total revenue, with printer sales reaching RMB 138,316,000, up from RMB 96,529,000 in the previous year[66][68]. Profitability and Losses - The overall gross profit margin increased from approximately 29% in the same period last year to 31%[21]. - The loss attributable to shareholders decreased to approximately RMB 10,703,000, compared to a loss of approximately RMB 21,177,000 in the same period last year[21]. - Gross profit for the same period was RMB 43,320,000, up from RMB 30,033,000, indicating a significant improvement in profitability[40]. - The company reported a net loss of RMB 10,754,000 for the six months ended June 30, 2021, compared to a net loss of RMB 21,530,000 in the prior year, reflecting a reduction in losses[42]. - The company's loss attributable to shareholders for the six months ended June 30, 2021, was RMB 10,703,000, an improvement from RMB 21,177,000 for the same period in 2020[92]. - Basic loss per share decreased to RMB 0.017 for the six months ended June 30, 2021, compared to RMB 0.035 for the same period in 2020[92]. Business Development and Strategy - The company anticipates significant improvement in business performance in 2021 due to reduced pandemic impact and market recovery, with growth expected in cloud printing and self-service terminal businesses[10]. - The company has launched various printers tailored for specific industries, including the LQ-350K/K+ and BP-900KII/KII+ models, to meet diverse market needs[11]. - The electronic invoice cloud printing technology has become a standard tutorial data for WeChat and Alipay, indicating strong market positioning and potential for growth in the electronic invoice printer market[13]. - The company continues to develop SAAS cloud printers, with over 1,500 software partners registered on its open platform, leading to rapid sales growth in this segment[14]. - The company plans to expand its cloud printing self-service terminal products, which have been widely applied in various sectors, including smart government and healthcare[18]. Financial Position - As of June 30, 2021, total assets were approximately RMB 431,738,000, an increase from RMB 398,426,000 as of December 31, 2020[23]. - The company’s total equity decreased to RMB 205,156,000 as of June 30, 2021, from RMB 216,113,000 as of December 31, 2020, primarily due to accumulated losses[37]. - Current liabilities rose to RMB 219,521,000 as of June 30, 2021, compared to RMB 180,823,000 at the end of the previous year, indicating increased short-term obligations[37]. - The company reported a net receivable from trade accounts of RMB 17,771,000 as of June 30, 2021, down from RMB 19,105,000 at the end of 2020[75]. - The balance of investments accounted for using the equity method was RMB 7,743,000 as of June 30, 2021, compared to RMB 7,849,000 in the previous year[70]. Cash Flow and Expenditures - Capital expenditures for the six months ended June 30, 2021, were approximately RMB 7,811,000, primarily for production equipment and intangible assets[22]. - The company borrowed RMB 116,083 thousand during the period, compared to RMB 114,988 thousand in the previous year, reflecting stable financing activities[48]. - The company paid RMB 85,004 thousand in loan repayments, which is a decrease from RMB 91,819 thousand in the same period last year[48]. - The cash flow from operating activities showed a significant reduction in cash outflow, improving by approximately 80% year-over-year[48]. - The company made capital expenditures totaling RMB 13,798,000 during the six months ended June 30, 2021[69]. Employee and Operational Metrics - The company employed 862 employees as of June 30, 2021, compared to 858 employees as of December 31, 2020, with total employee costs amounting to RMB 40,619,000, an increase from RMB 38,246,000 in the same period last year[30]. - Research and development expenses for the six months ended June 30, 2021, were RMB 15,371,000, down from RMB 20,069,000 in the same period last year, indicating a focus on cost management[40]. Risk Management - The company faces foreign currency exchange risks due to transactions in currencies such as USD, TWD, EUR, and HKD, but manages this exposure through regular reviews[26]. - The company continues to face various financial risks, including market risk, credit risk, and liquidity risk, which are consistent with the previous fiscal year[60]. - The company did not report any significant changes in risk management policies during the period[61]. Shareholder Information - The major shareholder, Mr. Au Pak Yin, holds 445,027,533 shares, representing 72.61% of the company's equity[106]. - Kent C. McCarthy owns 31,200,000 shares, which accounts for approximately 5.09% of the company's equity[108]. - The company has a total of 2,400,000 unexercised stock options as of June 30, 2021, which represents 0.39% of the total issued shares[111]. - The company’s total issued share capital is primarily held by related parties, indicating a concentrated ownership structure[106]. Corporate Governance - The company has adhered to the corporate governance code as of June 30, 2021, with the exception of the attendance of the chairman at the annual general meeting due to COVID-19 restrictions[115]. - The board of directors confirmed full compliance with the standard code regarding securities transactions for the six months ending June 30, 2021[116]. - The interim financial information for the six months ending June 30, 2021, has been reviewed by the audit committee and independent auditor[117].
映美控股(02028) - 2021 - 中期财报