Financial Performance - For the six months ended June 30, 2021, the total revenue was RMB 43,141,000, a slight decrease of 0.56% compared to RMB 43,384,000 in the same period of 2020[11]. - Gross profit for the same period was RMB 13,687,000, representing an increase of 12.7% from RMB 12,146,000 year-on-year[11]. - Other income and gains increased significantly to RMB 10,865,000, up 112.5% from RMB 5,106,000 in the previous year[11]. - The total loss from continuing operations before tax was RMB 40,128,000, an improvement from a loss of RMB 91,731,000 in the prior year[11]. - The net loss attributable to owners of the company was RMB 39,387,000, a reduction of 57.3% compared to RMB 92,347,000 in the same period of 2020[13]. - Basic and diluted loss per share from continuing operations was RMB 0.0097, compared to RMB 0.0287 in the previous year[11]. - The company reported a pre-tax loss from continuing operations of RMB 40,128 thousand for the six months ended June 30, 2021, compared to a loss of RMB 91,731 thousand in the same period of 2020[37]. - The company reported a gross profit of RMB 1,083,000 for the six months ended June 30, 2021, compared to a gross loss of RMB 160,000 for the same period in 2020, indicating a significant turnaround[71]. - Net loss attributable to owners decreased to approximately RMB 39.4 million, compared to a loss of RMB 92.3 million in the same period last year, mainly due to reduced impairment losses[155]. Assets and Liabilities - Non-current assets decreased to RMB 1,788,015 thousand as of June 30, 2021, down from RMB 1,962,995 thousand as of February 28, 2020, representing a decline of approximately 8.9%[16]. - Current assets increased significantly to RMB 416,902 thousand, up from RMB 287,734 thousand, marking an increase of approximately 45%[16]. - Total liabilities decreased to RMB 240,098 thousand from RMB 198,181 thousand, an increase of about 21%[16]. - The company's equity attributable to owners decreased slightly to RMB 1,543,497 thousand from RMB 1,555,309 thousand, a decline of approximately 0.8%[17]. - Trade receivables fell to RMB 41,683 thousand from RMB 60,641 thousand, a decrease of about 31.3%[16]. - The company’s total assets less current liabilities stood at RMB 1,964,819 thousand, down from RMB 2,052,548 thousand, reflecting a decrease of approximately 4.3%[16]. - The company’s current liabilities, excluding income tax, totaled RMB 137,609,000 as of June 30, 2021[65]. - The company reported a net cash outflow from financing activities of RMB 55,623 thousand for the six months ended June 30, 2021, compared to an inflow of RMB 45,144 thousand in the previous year[22]. - The company’s total bank and other borrowings amounted to RMB 309,342,000, a decrease of 19.6% from RMB 384,740,000 as of February 28, 2020[67]. Operational Efficiency and Future Outlook - Future outlook remains cautious due to market conditions, with a focus on improving operational efficiency and reducing losses[10]. - The company has plans for market expansion and new product development, although specific figures were not disclosed in the report[10]. - The company has focused its resources on the mining business, leading to the decision to sell its warehousing and logistics operations[70]. - The company anticipates that the impact of the pandemic on its operations will diminish, despite ongoing uncertainties in the global economy and U.S.-China relations[166]. Revenue Sources - The revenue contribution from calcium carbonate products and trading was RMB 22,681 thousand, accounting for 51.1% of total revenue for the first half of 2021[34]. - The sales of single-sided polished slabs generated revenue of RMB 6,652 thousand, which is a significant decrease of 73.5% compared to RMB 25,122 thousand in the same period of 2020[34]. - The company reported a total of RMB 22.7 million in revenue from its calcium carbonate business, compared to RMB 16.5 million in the same period last year, indicating a significant increase[95]. - Sales volume of marble blocks increased significantly to 1,500 cubic meters, compared to 623 cubic meters in the same period last year, representing a growth of approximately 141%[140]. - The average selling price of marble blocks rose to RMB 4,425 per cubic meter, a 58% increase from RMB 2,806 per cubic meter in the previous year[143]. - The average selling price of single-sided polished slabs surged by 216% to RMB 366 per square meter, down from RMB 116 per square meter in the same period last year[143]. Expenses and Costs - Administrative expenses increased to RMB 25,781,000, up from RMB 23,465,000 in the previous year, indicating a rise of 9.8%[11]. - Employee benefits expenses, including salaries and other benefits, amounted to RMB 7,635 thousand for the first half of 2021, compared to RMB 7,122 thousand in the same period of 2020[50]. - The depreciation of property, plant, and equipment increased to RMB 10,270 thousand for the first half of 2021, compared to RMB 3,948 thousand in the same period of 2020[50]. - Total sales cost from continuing operations was approximately RMB 295 million, with a decrease of 5.7% due to lower raw material costs despite a slight decline in total sales[144]. - Administrative expenses increased to RMB 258 million, accounting for approximately 59.8% of revenue, up from 54.1% in the previous year[149]. Management and Governance - The audit committee consists of three independent non-executive directors, including Ms. Long Yuequn as the chairperson[182]. - The company expresses gratitude to all employees, shareholders, investors, partners, and customers for their trust and continued support[183]. - The executive directors include Mr. Yuan Weiwen, Mr. Zhang Jian, Ms. Wu Jing, and Mr. Wan Jian, while the non-executive director is Mr. Yuan Zengcai[184]. - The company has maintained compliance with the corporate governance code, with no violations of listing rules reported during the review period[176]. Investment and Transactions - The company completed the sale of Genpex Investment Limited for RMB 63,500,000, with the transaction finalized on July 19, 2021[79]. - The company completed the sale of 51% equity in five commercial properties and 100% equity in one residential property, generating total proceeds of RMB 1,085 million, aimed at reallocating resources to focus on core business and reducing debt levels[105]. - The company has not engaged in any further commodity trading transactions due to uncertainties arising from the trade tensions between the US and China[96]. - The company did not declare an interim dividend for the six months ended June 30, 2021, consistent with the previous year[88].
雅高控股(03313) - 2021 - 中期财报