Financial Performance - For the six months ended June 30, 2021, the company's revenue was RMB 147,016 thousand, an increase of 18.3% compared to RMB 124,255 thousand for the same period in 2020[7] - Gross profit for the same period was RMB 36,818 thousand, representing a gross margin of 25.0%, up from RMB 33,732 thousand in 2020[7] - The company's net profit for the six months ended June 30, 2021, was RMB 9,418 thousand, a decrease of 35.0% from RMB 14,562 thousand in the previous year[7] - The company reported a net profit of RMB 9,418,000 for the six months ended June 30, 2021, compared to RMB 14,562,000 for the same period in 2020, representing a decrease of 35%[9] - The company’s total comprehensive income for the six months ended June 30, 2021, was RMB 9,103,000, compared to RMB 15,363,000 in the same period of 2020, indicating a decrease of about 41%[9] - The company reported a net profit of RMB 5,583,000 for Q2 2021, compared to RMB 11,200,000 in Q2 2020, indicating a decrease of 50.1%[35] Revenue and Sales - Total revenue for the first half of 2021 reached RMB 147,016,000, representing a 18.3% increase compared to RMB 124,255,000 in the same period of 2020[24] - Revenue from customers for inflatable products and related accessories increased to RMB 83,577,000 in Q2 2021, up 10.4% from RMB 75,742,000 in Q2 2020[24] - Revenue from external customers in Europe surged to RMB 12,153,000 in Q2 2021, a significant increase of 158.5% from RMB 4,703,000 in Q2 2020[27] - Sales revenue from inflatable amusement products was approximately RMB 130,183,000, an increase of about RMB 20,378,000 or 18.6% compared to RMB 109,805,000 in 2020, accounting for about 88.6% of total revenue[52] Costs and Expenses - The cost of goods sold for the first half of 2021 was RMB 110,198,000, an increase of 21.7% from RMB 90,523,000 in the same period of 2020[35] - Distribution and selling expenses totaled approximately RMB 14,836,000, an increase of about RMB 6,482,000 or 77.6% compared to RMB 8,354,000 in 2020[58] - Administrative expenses increased by approximately RMB 2,108,000 or 30.1%, totaling about RMB 9,106,000 compared to RMB 6,998,000 in 2020[59] Assets and Liabilities - Total assets as of June 30, 2021, amounted to RMB 200,756 thousand, an increase from RMB 180,797 thousand at the end of 2020[8] - Current assets increased to RMB 158,051 thousand from RMB 136,740 thousand in the previous year, driven by higher inventory and trade receivables[8] - The total equity attributable to owners of the company was RMB 131,009 thousand, up from RMB 121,906 thousand at the end of 2020[8] - Trade receivables increased to RMB 49,217,000 in 2021 from RMB 18,070,000 in 2020, reflecting a significant growth[44] - Trade payables rose to RMB 24,927,000 in 2021 from RMB 17,314,000 in 2020, indicating increased operational activity[46] Cash Flow - The company's cash and bank balances decreased to RMB 30,272 thousand from RMB 52,114 thousand, indicating a cash outflow during the period[8] - Operating cash flow for the six months ended June 30, 2021, was a net outflow of RMB 18,011,000, compared to a net inflow of RMB 14,166,000 in the same period of 2020, indicating a significant decline in cash generation[12] - The company’s cash and cash equivalents decreased to RMB 30,271,000 as of June 30, 2021, down from RMB 50,336,000 at the end of June 2020, a decline of approximately 40%[12] Financing and Costs Management - The company reported a decrease in financing costs to RMB 996 thousand from RMB 1,302 thousand, reflecting improved cost management[7] - The total financing cost for the first half of 2021 was RMB 996,000, down 23.5% from RMB 1,302,000 in the same period of 2020[30] - The company’s financing costs decreased to RMB 996,000 in the first half of 2021 from RMB 1,302,000 in the same period of 2020, a reduction of approximately 23%[12] Investments and Future Plans - The company plans to continue expanding its market presence and investing in new product development to drive future growth[7] - The company invested approximately RMB 18,000 in acquiring intangible assets during the period, compared to no investment in the previous year[41] - There were no significant investments, acquisitions, or plans for major capital assets as of June 30, 2021[65] Employee and Compensation - The company employed 987 full-time employees as of June 30, 2021, an increase from 726 employees as of December 31, 2020[74] - Total employee compensation, including directors' remuneration, was approximately RMB 34.3 million for the six months ended June 30, 2021, compared to RMB 20.5 million for the same period in 2020[74] Risk Management - The company faced foreign exchange risks due to revenue being primarily denominated in USD while production costs were in RMB, with no formal foreign exchange hedging policy in place[71] - The company has not reported any significant changes in its liquidity and funding risk management policies compared to the previous year[21]
中国口腔产业(08406) - 2021 - 中期财报