Financial Performance - The company's revenue for the six months ended June 30, 2021, was approximately RMB 320.7 million, an increase of about 13.3% compared to RMB 283.1 million for the same period in 2020[10]. - Gross profit increased by approximately 21.8% to about RMB 54.0 million, with a gross margin of approximately 16.9%[11][20]. - Net profit for the period was approximately RMB 10.2 million, representing a significant increase of about 42.9% from RMB 7.2 million in the same period last year[12][20]. - Revenue from ready-mixed concrete sales was RMB 225.7 million, a 5.3% increase from RMB 214.3 million in the previous year[23]. - Revenue from precast concrete components surged by approximately 38.0% to RMB 95.0 million, up from RMB 68.8 million in the prior year[24]. - Overall gross profit rose by approximately RMB 9.7 million or about 21.8% to RMB 54.0 million, with gross margin increasing to approximately 16.9% from 15.7%[28]. - Ready-mixed concrete gross profit increased by approximately 46.6% to RMB 40.9 million, with gross margin rising to approximately 18.1% from 13.0%[29]. - Prefabricated concrete components gross profit decreased by approximately 20.2% to RMB 13.1 million, with gross margin dropping to approximately 13.8% from 23.9%[30]. - The net profit attributable to the company's owners was RMB 10,221,000, a rise of 42.9% from RMB 7,154,000 in 2020[106]. - Basic earnings per share increased to RMB 0.015, compared to RMB 0.013 in the same period last year[106]. Expenses and Costs - Sales cost increased by approximately RMB 27.9 million or about 11.7% to RMB 266.6 million, primarily due to increased sales volume and rising steel prices[25]. - Selling expenses increased by approximately 53.6% to RMB 12.1 million, primarily due to increased transportation costs from sales outside Xiamen[32]. - Administrative expenses rose by approximately 29.8% to RMB 18.2 million, attributed to overall salary increases for administrative staff[33]. - The company incurred approximately RMB 9.5 million in listing expenses after successfully listing on the main board of the Stock Exchange on March 26, 2021[11]. - The company incurred financing costs of RMB (9,520,000), which contributed to the net loss for the period[174]. Assets and Liabilities - As of June 30, 2021, the group's current assets net value was approximately RMB 278.8 million, up from RMB 61.9 million at the end of 2020[41]. - Total assets as of June 30, 2021, amounted to RMB 905,805,000, an increase from RMB 808,323,000 at the end of 2020[109]. - Total liabilities decreased to RMB 474,165,000 from RMB 641,354,000 at the end of 2020, indicating improved financial health[112]. - The total carrying amount of trade receivables as of June 30, 2021, is RMB 513,103,000, with an expected loss provision totaling RMB 3,140,000[156]. - The total financial liabilities as of June 30, 2021, amount to RMB 462,885,000, with RMB 404,524,000 due within 1 year[160]. - The company’s borrowings (including interest payable) total RMB 213,034,000 as of June 30, 2021[160]. Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2021, was RMB (129,587) thousand, compared to RMB (18,685) thousand for the same period in 2020, indicating a significant increase in cash outflow[123]. - Cash used in investing activities was RMB (10,998) thousand for the first half of 2021, up from RMB (5,083) thousand in the same period of 2020, reflecting increased investment efforts[123]. - Cash inflow from financing activities amounted to RMB 191,775 thousand for the six months ended June 30, 2021, compared to RMB 28,976 thousand in the prior year, showing a substantial increase in financing[123]. - The net increase in cash and cash equivalents was RMB 51,190 thousand for the first half of 2021, compared to RMB 5,208 thousand in the same period of 2020, indicating improved liquidity[123]. - The company reported a cash balance of RMB 81,675 thousand at the end of June 2021, compared to RMB 21,352 thousand at the end of June 2020, reflecting a strong cash position[123]. Market Position and Future Outlook - The company aims to expand production capacity to meet the rising demand for precast concrete components, driven by favorable government policies promoting prefabricated construction[15]. - The company is optimistic about the future of the precast concrete components industry, bolstered by government initiatives to accelerate the upgrade of the construction sector in China[15]. - The board is optimistic about business growth in the second half of 2021, driven by government policies supporting prefabricated construction in China[61]. - The group plans to leverage funds from the share sale to expand production capacity and increase market share in the rapidly growing precast concrete component industry in China[61]. - The company is committed to consolidating its leading market position in Fujian Province to maximize returns for shareholders[15]. Shareholder Information - Major shareholders include Zhixin Investment Holdings Limited with 364,706,100 shares (48.76%) and Luohe Holdings Limited with 121,568,700 shares (16.25%) as of the report date[77]. - The total number of issued shares is 748,000,000, which is the basis for calculating the percentage of shareholdings[78]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2021[94]. - The company is committed to providing timely and accurate information to shareholders and investors through various reports and announcements[95]. - The company’s website is a resource for all published information, ensuring transparency for stakeholders[95]. Compliance and Governance - The independent auditor reviewed the interim financial statements for the six months ended June 30, 2021, confirming compliance with relevant accounting standards[89]. - The independent auditor's review did not reveal any issues that would suggest the financial data was not prepared in accordance with the relevant standards[99]. - There were no changes in directors or any other disclosures required under the listing rules during the reporting period[86]. - The company reported no interests from directors in any competing businesses as of June 30, 2021[87]. - The company’s financial statements are prepared in accordance with Hong Kong Accounting Standards, specifically HKAS 34 for interim financial reporting[99].
智欣集团控股(02187) - 2021 - 中期财报