Financial Performance - Revenue increased by approximately 69.1% to approximately RMB 370.2 million for the first half of 2024, compared to RMB 218.9 million in the same period of 2023[2] - Gross profit rose by approximately 84.2% to approximately RMB 268.7 million, up from RMB 145.9 million in the first half of 2023[2] - Profit for the period was approximately RMB 33.4 million, compared to RMB 27.8 million in the same period of 2023[2] - Basic earnings per share were approximately RMB 3.53, an increase from RMB 2.94 in the first half of 2023[2] - The group's total revenue for the six months ended June 30, 2024, was RMB 370,189 thousand, compared to RMB 218,930 thousand in 2023, indicating an overall increase of approximately 69%[12] - The gross margin for the first half of 2024 was approximately 72.6%, up from 66.6% in the first half of 2023, an increase of 6.0%[28] - The company recorded a profit of approximately RMB 33.4 million in the first half of 2024, an increase of approximately RMB 5.6 million or 20.1% compared to RMB 27.8 million in the first half of 2023[26] Assets and Liabilities - Total assets amounted to RMB 547.953 million as of June 30, 2024, compared to RMB 505.419 million as of December 31, 2023[5] - Current assets increased to RMB 318.366 million from RMB 275.514 million as of December 31, 2023[5] - Non-current liabilities totaled RMB 45.935 million, compared to RMB 45.299 million as of December 31, 2023[6] - Trade receivables increased to RMB 48.226 million from RMB 32.511 million as of December 31, 2023[5] - Trade payables as of June 30, 2024, were approximately RMB 49.8 million, an increase of approximately RMB 16.7 million or 50.5% from RMB 33.1 million on December 31, 2023[37] Inventory and Expenses - Inventory rose to RMB 165.818 million, up from RMB 108.861 million in the previous year[5] - Sales and distribution expenses for the first half of 2024 were approximately RMB 186.3 million, an increase of approximately RMB 101.2 million or 118.9% from RMB 85.1 million in the first half of 2023[30] - Administrative expenses for the first half of 2024 were approximately RMB 37.4 million, an increase of approximately RMB 6.8 million or 22.2% from RMB 30.6 million in the first half of 2023[31] - The total income tax expense for the six months ended June 30, 2024, was RMB 6,924 thousand, compared to RMB 2,033 thousand for the same period in 2023, marking an increase of about 240.5%[17] Revenue Sources - For the six months ended June 30, 2024, the group's revenue from Mainland China was RMB 304,902 thousand, a significant increase from RMB 159,917 thousand for the same period in 2023, representing an increase of approximately 90.5%[12] - Revenue from New Zealand for the same period was RMB 52,862 thousand, up from RMB 50,411 thousand in 2023, reflecting a growth of about 4.9%[12] Corporate Governance and Compliance - The financial statements for the six months ended June 30, 2024, were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and consistency with previous reporting periods[8] - The audit committee, consisting of three independent non-executive directors, has reviewed the interim results for the six months ended June 30, 2024[46] - The board has resolved not to declare any interim dividend for the six months ended June 30, 2024, consistent with the previous year[2] Future Outlook and Strategy - The company plans to continue optimizing its promotional strategies for cross-border e-commerce platforms and enhance brand influence in the second half of 2024[41] - The company aims to increase new product development and shorten the R&D cycle to meet customer demands in the upcoming period[41] - The overall economic growth in the second half of 2024 is expected to remain stable, with emerging markets like China and India playing a key role in economic development[40] Employee and Operational Metrics - As of June 30, 2024, the total salary and related costs amounted to approximately RMB 51.7 million, compared to RMB 33.9 million for the same period in 2023, reflecting a year-on-year increase of about 52.5%[42] - The company employed a total of 442 employees, including 308 in China, 131 in New Zealand, and 3 in Australia as of June 30, 2024[42]
中生联合(03332) - 2024 - 中期业绩