Financial Performance - The company's revenue for the six months ended June 30, 2021, was RMB 18,310,000, an increase of 12.2% compared to RMB 16,311,000 for the same period in 2020[8]. - The cost of sales and services for the same period was RMB 7,732,000, up from RMB 7,076,000, reflecting a 9.3% increase[8]. - The net profit attributable to the owners of the company was RMB (312,000), a decrease from RMB 2,997,000 in the previous year, indicating a significant decline in profitability[10]. - The total revenue for the funeral services and cremation services segment increased to RMB 35,521,000 in 2021 from RMB 27,535,000 in 2020, representing a growth of approximately 29%[33]. - The total profit for the reportable segments reached RMB 8,697,000 for the six months ended June 30, 2021, compared to RMB 3,193,000 for the same period in 2020, indicating an increase of approximately 172%[42]. - The company reported a total revenue of RMB 37,271,000 for the six months ended June 30, 2021, up from RMB 28,985,000 in the same period of 2020, reflecting a growth of about 29%[39]. - The company reported a pre-tax consolidated profit of RMB 4,711,000 for the six months ended June 30, 2021, compared to RMB 1,452,000 for the same period in 2020, an increase of approximately 224%[42]. - The income tax expense for the six months ended June 30, 2021, was RMB 2,896,000, significantly higher than RMB 940,000 in the same period of 2020[79]. Assets and Liabilities - The total assets as of June 30, 2021, amounted to RMB 153,519,000, compared to RMB 146,882,000 at the end of 2020, showing a growth of 4.4%[12]. - Cash and cash equivalents at the end of the reporting period were RMB 125,616,000, slightly up from RMB 123,674,000 at the beginning of the year[18]. - Trade receivables increased to RMB 1,291 thousand as of June 30, 2021, from RMB 996 thousand as of December 31, 2020, representing a growth of 29.5%[96]. - The net amount of trade receivables after expected credit loss provisions was RMB 914 thousand, up from RMB 619 thousand, indicating a 47.7% increase[96]. - The group’s financial liabilities measured at amortized cost decreased to RMB 14,847 thousand from RMB 16,876 thousand, a decline of 12.1%[103]. - The group’s capital commitments to joint ventures and associates were approximately RMB 8,700,000 as of June 30, 2021, up from RMB 6,500,000 as of December 31, 2020, indicating a growth of about 33.85%[110]. Expenses - Administrative expenses increased to RMB 8,149,000 from RMB 4,688,000, reflecting a rise of 73.5%[8]. - The sales cost for the period was approximately RMB 15,570,000, an increase of about 16.5% from RMB 13,361,000 in the previous period[132]. - Administrative expenses increased by approximately 26.9% to about RMB 13,764,000, accounting for 36.9% of revenue[134]. Cash Flow - The company reported a net cash inflow from operating activities of RMB 731,000, a significant decrease from RMB 9,156,000 in the same period last year[18]. - The group maintained a strong cash position with approximately RMB 125,616,000 in cash and bank balances as of June 30, 2021[136]. Market and Strategic Focus - The company plans to focus on market expansion and new product development to enhance future growth prospects[8]. - The group reported a significant focus on investment holding, primarily in funeral and related services in China, Taiwan, and Hong Kong, as well as cemetery sales in Vietnam and high-end biotech equipment sales in Hong Kong[20]. - The group plans to adhere to a diversified development strategy, allocating more resources to support the growth of its biotechnology business[149]. - The group aims to expand its investment business scale through equity and securities investment operations[149]. Compliance and Reporting - The unaudited interim financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards, with no significant impact from the newly adopted standards during the reporting period[28]. - The financial statements are presented in Renminbi, with amounts rounded to the nearest thousand, indicating a structured approach to financial reporting[26]. - The management's application of accounting policies remains consistent with those used in the previous financial year, ensuring stability in financial reporting[24]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the period and confirmed compliance with applicable accounting standards[175]. Employee and Management Compensation - The total remuneration for key management personnel for the six months ended June 30, 2021, was RMB 1,892,000, an increase of 25.14% from RMB 1,512,000 in the same period of 2020[111]. - The total remuneration for close relatives of key management personnel was RMB 128,000 for the six months ended June 30, 2021, compared to RMB 116,000 in the same period of 2020, reflecting a growth of approximately 10.34%[112]. Shareholder Information - As of June 30, 2021, Hong Kong Gaoqi Biotechnology Co., Ltd. held 220,475,000 shares, representing approximately 29.69% of the company's issued share capital[153]. - The company has adopted a new share option plan effective from April 22, 2021, which will remain valid for ten years, allowing for the issuance of up to 10% of the total issued shares as of the adoption date[161]. - The maximum number of shares that can be issued under the share option plan is 74,250,000 shares, representing 10% of the total issued shares as of the mid-term performance report date[164]. - No share options have been granted under the share option plan since its adoption date[165]. - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[167].
中国生命集团(08296) - 2021 - 中期财报