Financial Performance - Revenue decreased by approximately 7.9% to approximately RMB123.7 million compared to RMB134.3 million in the first half of 2020[10] - Gross profit decreased by approximately 8.8% to approximately RMB72.2 million compared to RMB79.2 million in the first half of 2020[10] - Loss for the period was approximately RMB6.9 million, compared to a loss of approximately RMB6.2 million in the first half of 2020[10] - Basic loss per share was approximately RMB0.73 cent, compared to RMB0.65 cent in the first half of 2020[10] - The Group's revenue for the first half of 2021 decreased by approximately 7.9% to approximately RMB123.7 million, down from approximately RMB134.3 million in the first half of 2020[31] - The Group recorded a loss of approximately RMB6.9 million for the first half of 2021, an increase of approximately RMB0.7 million compared to a loss of approximately RMB6.2 million in the first half of 2020[34] - The gross profit decreased by approximately RMB7.0 million from approximately RMB79.2 million in the first half of 2020 to approximately RMB72.2 million in the first half of 2021[34] - The Group's income tax expense decreased from approximately RMB1.5 million in the first half of 2020 to approximately RMB0.03 million in the first half of 2021, representing a decrease of approximately RMB1.5 million[36] - The Group's cash and cash equivalents decreased by approximately RMB10.8 million as compared with 31 December 2020, mainly due to a net cash outflow from operating activities of approximately RMB6.0 million[38] - The Group's inventories amounted to approximately RMB77.0 million as at 30 June 2021, representing a decrease of approximately RMB6.1 million from approximately RMB83.1 million as at 31 December 2020[38] Operational Highlights - The Group launched a total of twenty-eight new products during the first half of 2021, including two Zhongsheng series products, twenty-two Good Health series products, and four Living Nature series products[31] - The Group continued to enhance its domestic distribution network and e-commerce platforms, collaborating with major platforms such as Tmall International and JD.com[34] - The overseas diversified sales platforms include a broad international distribution network in countries such as the United Kingdom, Germany, and Singapore[34] - The decrease in revenue was attributed to the disposal of Shanghai Hejian and a decline in sales of general trading products in TV shopping channels[34] - The Group's strategies focused on brand recognition and sales promotion through distributors and e-commerce channels to enhance market competitiveness[31] Shareholder Information - As of June 30, 2021, the total issued shares of the company were 946,298,370[59] - Mr. Gui Pinghu held 494,053,628 domestic shares, representing approximately 73.32% of the relevant class and 52.21% of the total share capital[54] - Ms. Wu Yanmei, as a beneficial owner, held 52,965,000 domestic shares, accounting for 7.86% of the relevant class and 5.60% of the total share capital[62] - The company had 673,828,770 issued domestic shares and 272,469,600 H shares as of June 30, 2021[59] - Hin Sang Group (International) Holding Co., Ltd. held 59,121,600 H shares, representing 21.70% of the relevant class and 6.25% of the total share capital[62] Financial Position - Total assets as of June 30, 2021, were RMB 414,761,000, down from RMB 449,731,000 at the end of 2020, indicating a decrease of 7.8%[77] - Total current assets decreased to RMB 191,581,000 from RMB 211,998,000, a decline of 9.6%[77] - Net assets as of June 30, 2021, were RMB 356,589,000, down from RMB 362,363,000, reflecting a decrease of 1.9%[77] - The Group's financial position shows a trend of decreasing financial assets and liabilities, which may impact future liquidity and operational strategies[167] Cash Flow and Expenses - For the six months ended June 30, 2021, net cash from operating activities was RMB (6,058,000), a decrease from RMB 15,587,000 in the same period of 2020[84] - Net cash used in investing activities was RMB (887,000), compared to RMB (7,985,000) in the prior year[84] - Net cash used in financing activities was RMB (2,352,000), significantly lower than RMB (23,920,000) in 2020[84] - Cash and cash equivalents at the end of the period were RMB 66,356,000, down from RMB 90,462,000 in the previous year[84] - Staff costs for the same period were RMB 30,654, down 7.5% from RMB 33,139 in the previous year[132] Governance and Compliance - The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2021, consistent with the previous year[70] - The unaudited condensed consolidated interim results for the six months ended June 30, 2021, have been reviewed by the Audit Committee[70] - The Company has complied with all code provisions as set out in the Corporate Governance Code for the six months ended June 30, 2021[70] - The Company has confirmed that all Directors complied with the Model Code throughout the six months ended June 30, 2021[70] - The Company has established internal control and risk management systems in compliance with relevant regulations[69]
中生联合(03332) - 2021 - 中期财报