滨海泰达物流(08348) - 2024 - 中期业绩

Interim Results Announcement This announcement presents the unaudited condensed consolidated financial results of Tianjin Binhai Teda Logistics Group Corporation Limited for the six months ended June 30, 2024, adhering to GEM Listing Rules. - Company name: Tianjin Binhai Teda Logistics Group Corporation Limited[1] - Reporting period: Six months ended June 30, 2024[1] - Report type: Unaudited condensed consolidated financial results[1] - Listing venue: Hong Kong Stock Exchange GEM[1] - Board members: Executive Directors Yang Weihong, Ma Xin; Non-executive Directors Li Jian, Meng Jun, Sun Jing; Independent Non-executive Directors Cheng Xinsheng, He Yongjun, Luo Wenyu, Peng Zuowen[2] Characteristics of GEM The GEM market is positioned as a listing platform for small and medium-sized companies, carrying higher investment risks, potential market volatility, and no guarantee of liquidity, requiring investors to exercise caution. - GEM market positioning: Provides a listing market for small and medium-sized companies, with higher investment risks compared to main board companies[5] - Investment risk warning: GEM securities may be subject to significant market volatility risks, and a highly liquid market cannot be guaranteed[5] Financial Highlights For H1 2024, revenue grew 37.79%, gross profit 28.05%, but gross margin slightly declined; profit attributable to owners of the Company sharply dropped 94.98%. 2024 First Half Financial Highlights | Indicator | 2024 First Half (RMB thousands) | 2023 First Half (RMB thousands) | Year-on-year Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,880,472 | 1,364,715 | +37.79% | | Gross Profit | 21,532 | 16,815 | +28.05% | | Gross Margin | 1.15% | 1.23% | -0.08 percentage points | | Profit attributable to owners of the Company | 609 | 12,129 | -94.98% | | Earnings Per Share | 0.2 cents | 3.4 cents | -94.12% | Unaudited Consolidated Interim Results This section presents the Group's unaudited condensed consolidated financial statements for H1 2024, including profit or loss, financial position, equity changes, and cash flow, comparing performance to the prior year. Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income For H1 2024, Group revenue increased to RMB 1,880,472 thousand, gross profit was RMB 21,532 thousand; profit attributable to owners significantly decreased to RMB 609 thousand, with EPS at RMB 0.2 cents. Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the six months ended June 30) | Indicator | 2024 (RMB thousands) | 2023 (RMB thousands) | | :--- | :--- | :--- | | Revenue | 1,880,472 | 1,364,715 | | Cost of sales | (1,858,940) | (1,347,900) | | Gross profit | 21,532 | 16,815 | | Administrative expenses | (19,235) | (21,564) | | Other income - net | 5,156 | 5,519 | | Reversal of trade receivables, bills and other receivables | 2,980 | 5,094 | | Operating profit | 10,433 | 5,864 | | Finance costs | (10,351) | (11,367) | | Share of results of investments accounted for using the equity method | 4,469 | 17,679 | | Profit before income tax | 4,551 | 12,176 | | Income tax expense | (1,322) | (726) | | Profit for the period | 3,229 | 11,450 | | Profit attributable to owners of the Company | 609 | 12,129 | | Non-controlling interests | 2,620 | (679) | | Earnings per share (RMB cents) | 0.2 | 3.4 | Condensed Consolidated Statement of Financial Position As of June 30, 2024, total assets increased to RMB 1,989,038 thousand, current assets were RMB 1,024,427 thousand; total liabilities were RMB 1,000,825 thousand, and net current assets slightly increased despite rising current liabilities. Condensed Consolidated Statement of Financial Position (As of June 30) | Indicator | June 30, 2024 (RMB thousands) | December 31, 2023 (RMB thousands) | | :--- | :--- | :--- | | ASSETS | | | | Non-current assets | 964,611 | 995,825 | | Current assets | 1,024,427 | 824,963 | | TOTAL ASSETS | 1,989,038 | 1,820,788 | | EQUITY | | | | Share capital and reserves | 887,888 | 887,279 | | Non-controlling interests | 100,325 | 103,997 | | TOTAL EQUITY | 988,213 | 991,276 | | LIABILITIES | | | | Non-current liabilities | 92,534 | 109,307 | | Current liabilities | 908,291 | 720,205 | | TOTAL LIABILITIES | 1,000,825 | 829,512 | | TOTAL EQUITY AND LIABILITIES | 1,989,038 | 1,820,788 | | Net current assets | 116,136 | 104,758 | Condensed Consolidated Statement of Changes in Equity As of June 30, 2024, equity attributable to owners of the Company slightly increased due to profit for the period, while non-controlling interests decreased. Condensed Consolidated Statement of Changes in Equity (For the six months ended June 30) | Indicator | June 30, 2024 (RMB thousands) | June 30, 2023 (RMB thousands) | | :--- | :--- | :--- | | Equity attributable to owners of the Company (Beginning of period) | 887,279 (2024/1/1) | 873,884 (2023/1/1) | | Profit and total comprehensive income for the period | 609 | 12,129 | | Non-controlling interests (Beginning of period) | 103,997 (2024/1/1) | 125,384 (2023/1/1) | | Profit and total comprehensive income attributable to non-controlling interests for the period | 2,620 | (679) | | Dividends distributed to non-controlling interests | (6,292) | (28,303) | | Equity attributable to owners of the Company (End of period) | 887,888 | 886,013 | | Non-controlling interests (End of period) | 100,325 | 100,325 | | Total (End of period) | 988,213 | 982,415 | Condensed Consolidated Cash Flow Statement For H1 2024, net cash from operations was RMB 25,811 thousand, net cash used in investing decreased, but net cash used in financing significantly increased, leading to a net decrease in cash and cash equivalents. Condensed Consolidated Cash Flow Statement (For the six months ended June 30) | Indicator | 2024 (RMB thousands) | 2023 (RMB thousands) | | :--- | :--- | :--- | | Net cash generated from/(used in) operating activities | 25,811 | (69,864) | | Net cash used in investing activities | (14,640) | (28,276) | | Net cash (used in)/generated from financing activities | (89,225) | 34,863 | | Net decrease in cash and cash equivalents | (78,054) | (63,277) | | Cash and cash equivalents at beginning of period | 340,301 | 414,629 | | Cash and cash equivalents at end of period | 262,247 | 351,352 | Notes to the Condensed Consolidated Financial Information This section provides detailed notes to the Group's condensed consolidated financial statements, covering general information, accounting policies, segment data, revenue/expense details, EPS, asset/liability specifics, and related party transactions. 1. General Information Tianjin Binhai Teda Logistics Group Corporation Limited was established in China in 2006 as an investment holding company, with H-shares listed on GEM in 2008; in 2023, 256,068,800 unlisted domestic shares were converted to H-shares and listed on GEM, with the Group primarily providing integrated logistics services in China. -