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久融控股(02358) - 2021 - 中期财报
JIU RONG HOLDJIU RONG HOLD(HK:02358)2021-09-23 08:48

Financial Performance - The company reported revenue of HKD 1,000,906 thousand for the six months ended June 30, 2021, a significant increase from HKD 226,246 thousand in the same period of 2020, representing a growth of approximately 341%[8] - Gross profit for the period was HKD 99,903 thousand, compared to HKD 50,404 thousand in the prior year, indicating a gross margin improvement[8] - The net profit after tax for the period was HKD 17,505 thousand, down from HKD 21,754 thousand in the previous year, reflecting a decrease of about 19%[8] - The total comprehensive income for the period was HKD 20,547,000, compared to a loss of HKD 13,982,000 in the same period last year, marking a turnaround in performance[15] - The company reported a basic and diluted earnings per share of HKD 0.32, down from HKD 0.40 in the prior year[8] - The company achieved a profit before tax of HKD 41,354 thousand for the six months ended June 30, 2021, up from HKD 28,763 thousand in the previous year[35] - Profit attributable to owners of the company for the period was approximately HKD 17,505,000, a decrease of about 19.53% from HKD 21,754,000 in the same period last year, primarily due to unrealized fair value losses on financial assets of approximately HKD 15,112,000[65] Assets and Liabilities - The company's total assets as of June 30, 2021, were HKD 1,742,303 thousand, compared to HKD 1,182,186 thousand at the end of 2020, marking an increase of approximately 47%[10] - Current liabilities increased to HKD 2,071,217 thousand from HKD 1,541,847 thousand, resulting in a net current liability position of HKD (328,914) thousand[13] - The company’s cash and cash equivalents decreased to HKD 228,250 thousand from HKD 350,626 thousand, a decline of about 35%[11] - The company’s equity attributable to owners increased to HKD 582,920 thousand from HKD 562,373 thousand, reflecting a growth of approximately 3%[14] - Total trade receivables increased significantly to HKD 657,778,000 as of June 30, 2021, up from HKD 350,532,000 as of December 31, 2020, marking an increase of approximately 87.5%[45] - Bank loans increased to HKD 678,178,000 as of June 30, 2021, compared to HKD 642,039,000 as of December 31, 2020, reflecting a growth of approximately 5.6%[51] - Trade payables rose to HKD 1,517,668,000 as of June 30, 2021, compared to HKD 1,199,623,000 as of December 31, 2020, indicating an increase of about 26.5%[49] Cash Flow - The net cash outflow from operating activities was HKD 271,706,000, compared to HKD 89,648,000 for the same period in 2020, indicating a significant increase in cash outflow[17] - The net cash inflow from financing activities was HKD 181,721,000, a decrease from HKD 399,558,000 in the previous year, reflecting a reduction of approximately 54.5%[17] - The company’s cash flow from investing activities showed a net outflow of HKD 32,391,000, a significant decrease from a net inflow of HKD 621,000 in the previous year[17] - The cash and cash equivalents at the end of the period decreased to HKD 228,250,000 from HKD 419,779,000, a decline of approximately 45.4%[17] Business Segments - The company operates in five reportable segments, including digital video, new energy vehicles, cloud big data, and property development[30] - The digital video business generated revenue of HKD 732,025 thousand, while the new energy vehicle business contributed HKD 186,218 thousand for the same period[34] - The company is focused on expanding its cloud data business, which generated HKD 17,528 thousand in revenue for the reporting period[34] - Property investment revenue reached approximately HKD 65,135,000, up about 138% from HKD 27,382,000 in the same period last year[73] - The new energy vehicle business achieved revenue of approximately HKD 186,218,000, representing a 96% increase from HKD 95,171,000 in the previous year[73] - The cloud ecosystem big data business saw revenue rise to approximately HKD 17,528,000, a substantial increase of 306% from HKD 4,312,000 year-on-year[73] Investments and Acquisitions - The company completed the acquisition of a 46% stake in Heilongjiang New Oasis Real Estate Development Co., which will serve as a joint venture for property development in Harbin[32] - The company expects to generate rental income from its property investments through its wholly-owned subsidiary, Hangzhou Green Cloud Real Estate Co.[33] Employee and Operational Metrics - The group employed 367 staff as of June 30, 2021, with total employee compensation of approximately HKD 24,500,000 for the period, compared to approximately HKD 17,683,000 in the same period last year[70] - The company incurred employee benefits expenses of HKD 24,520,000 during the period, a decrease of approximately 42.3% from HKD 42,472,000 in the previous year[39] Future Outlook and Strategy - The board believes that the new energy vehicle business has significant growth potential due to government support for reducing carbon emissions and expanding charging infrastructure[74] - The company plans to continue investing in the new energy vehicle business and expand its electric vehicle charging stations in China[74] - The board will actively explore new business opportunities and consider fundraising to strengthen the company's financial position[74] - The company emphasizes product quality and cost control while strictly managing capital expenditures to maintain competitiveness[74] Shareholder Information - Major shareholder Alpha Century Assets Limited holds a 10.96% stake in the company, with 600,000,000 shares[77]