Financial Performance - The group's revenue increased from approximately RMB 36,690,000 to approximately RMB 56,500,000, representing a growth of about 48.53% compared to the same period in 2020[6]. - The net loss for the six months ended June 30, 2021, was approximately RMB 12,500,000[6]. - The gross profit for the six months ended June 30, 2021, was RMB 226,744, compared to RMB 384,000 for the same period in 2020[9]. - The basic and diluted loss per share was 0.70 cents, compared to 0.95 cents for the same period in 2020[9]. - Total revenue for the six months ended June 30, 2021, was RMB 56,496 thousand, an increase from RMB 36,690 thousand in the same period of 2020, representing a growth of 54%[112]. - The company reported a net loss of RMB 12,498 thousand for the six months ended June 30, 2021, compared to a net loss of RMB 16,273 thousand in the same period of 2020, showing an improvement of 23.5%[84]. - The net loss for the period was approximately RMB 12,498,000, a reduction of about RMB 3,775,000 or 23.20% year-on-year[174]. Revenue Sources - Revenue from the manufacturing and sales of woven fabrics for the six months ended June 30, 2021, was RMB 49,585 thousand, compared to RMB 35,525 thousand in the same period of 2020, reflecting a growth of 39.5%[112]. - The group’s revenue from external customers in China was RMB 51,470 for the six months ended June 30, 2021, up from RMB 31,884 in 2020, representing an increase of approximately 61%[132]. - The revenue from packaging fees rose by approximately RMB 6,040,000 or about 696.2% due to the recovery of business activities in China after the initial COVID-19 outbreak[22]. Expenses and Costs - Total comprehensive expenses for the period amounted to RMB 247,302 thousand, compared to RMB 331,664 thousand in the previous year, indicating a reduction of approximately 25.4%[62]. - The group’s employee costs totaled RMB 9,471 for the six months ended June 30, 2021, compared to RMB 10,119 in 2020, reflecting a decrease of approximately 6.4%[140]. - Sales and distribution costs increased by approximately RMB 119,000 or 18.39% year-on-year, consistent with the increase in revenue during the period[168]. - Administrative expenses decreased by approximately RMB 2,317,000 or 21.68% compared to the same period last year, mainly due to losses from the sale of a subsidiary in 2020[169]. - Financing costs decreased significantly by approximately RMB 2,534,000 or 72.3% compared to the same period last year[173]. Assets and Liabilities - Cash and cash equivalents at the end of the period were RMB 26,780,000, down from RMB 31,635,000 at the beginning of the period[41]. - The total assets less current liabilities amounted to RMB 254,986,000, compared to RMB 266,602,000 in the previous year[11]. - Trade receivables and other receivables increased to RMB 51,531,000 from RMB 29,944,000 in the previous year[11]. - The company reported a significant increase in overdue trade receivables, with amounts over 121 days reaching RMB 7.616 million as of June 30, 2021, compared to RMB 3.893 million at the end of 2020[153]. - Trade payables amounted to RMB 15.480 million as of June 30, 2021, up from RMB 9.068 million as of December 31, 2020, indicating increased liabilities[157]. Operational Challenges - The company faced challenges from labor shortages and rising material costs, which continued to impact manufacturing operations and pricing strategies[166]. - The company continues to monitor the impact of the COVID-19 pandemic on its operations and market demand, adjusting strategies accordingly[166]. - The board anticipates that the demand for woven fabrics will remain very unstable due to ongoing geopolitical tensions and the pandemic's impact[192]. Future Outlook - The group plans to continue expanding its market presence and enhancing its product offerings in the upcoming periods[124]. - The group plans to continue developing new sales channels and high-quality products to attract high-end customers[22]. - The group will manage capital expenditures very prudently while ensuring strategic investment needs are met[192]. Compliance and Governance - The company expects the application of new and revised Hong Kong Financial Reporting Standards will not have a significant impact on its performance and financial position[107]. - The company is committed to maintaining compliance with the regulations set forth by the Hong Kong Accounting Standards and the GEM listing rules[103]. - The company has established financial risk management policies to ensure all payables are settled within credit terms[152]. Employee and Workforce - The group employed 285 staff as of June 30, 2021, a decrease from 312 as of December 31, 2020[200].
浙江永安(08211) - 2021 - 中期财报