Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 54,816 thousand, a slight decrease of 0.5% compared to RMB 55,099 thousand for the same period in 2023[1]. - Net profit for the period was RMB 7,694 thousand, down 62.1% from RMB 20,336 thousand in the previous year[1]. - Total comprehensive income for the period, after tax, was RMB 2,300 thousand, a decrease of 88.8% from RMB 20,595 thousand in the same period last year[3]. - Basic earnings per share decreased to RMB 4.92 from RMB 12.99, reflecting a decline of 62.1%[3]. - The company reported a significant foreign exchange loss of RMB 4,649 thousand related to overseas operations[3]. - The company reported a total comprehensive income of RMB 2,300,000 for the six months ended June 30, 2024, compared to RMB 20,595,000 for the same period in 2023, reflecting a significant decrease[6][7]. - The net profit for the six months ended June 30, 2024, was RMB 7,694,000, a decrease from RMB 20,336,000 in the previous year, indicating a decline of approximately 62%[6][7]. - For the six months ended June 30, 2024, the profit attributable to shareholders was RMB 7,694,000, compared to RMB 20,336,000 for the same period in 2023, representing a decrease of approximately 62%[28]. - The basic earnings per share for the six months ended June 30, 2024, was RMB 0.049, down from RMB 0.130 in the same period of 2023, indicating a decline of about 62%[28]. Assets and Liabilities - Non-current assets decreased to RMB 378,734 thousand from RMB 447,869 thousand, indicating a reduction in long-term investments[4]. - Current assets increased to RMB 412,345 thousand from RMB 336,813 thousand, showing improved liquidity[4]. - Total liabilities increased slightly to RMB 213,906 thousand from RMB 209,244 thousand, reflecting stable financial obligations[5]. - The company's net asset value remained stable at RMB 573,976 thousand compared to RMB 573,700 thousand in the previous period[5]. - As of June 30, 2024, total assets amounted to RMB 791,079 thousand, with segment assets contributing RMB 737,014 thousand[14]. - The total liabilities as of June 30, 2024, were RMB 217,103 thousand, with segment liabilities accounting for RMB 164,106 thousand[14]. Credit and Risk Management - The expected credit loss provision increased significantly to RMB 21,407 thousand from RMB 9,400 thousand, indicating a rise in credit risk[1]. - The total expected credit loss provision for loans and receivables was RMB 450,557,000 as of June 30, 2024, compared to RMB 392,017,000 as of December 31, 2023, indicating an increase in provisions[30]. - The expected credit loss provision for loans and receivables increased to RMB 54,640,000 as of June 30, 2024, compared to RMB 82,066,000 as of December 31, 2023, indicating a reduction in provisions[30]. - The overdue accounts receivable with credit impairment stood at RMB 45,152,000 as of June 30, 2024, compared to RMB 63,461,000 as of December 31, 2023, indicating a reduction of approximately 29%[37]. - The company has implemented a risk management system to mitigate operational risks, with a focus on high-quality customer selection due to recent economic volatility in China[71]. Revenue Segments - The company reported external revenue of RMB 54,816,000 for the financing leasing and factoring segment, with a segment performance loss of RMB 799,000[13]. - The small loan and loan intermediary services segment generated external revenue of RMB 54,378,000, with a segment performance profit of RMB 17,822,000[13]. - The securities trading and brokerage services segment achieved external revenue of RMB 395,000, with a segment performance loss of RMB 680,000[13]. - The financing leasing and factoring segment's external revenue decreased from RMB 964,000 to RMB 54,816,000 year-over-year[13]. Operational Strategy - The company plans to continue expanding its services in China, focusing on financing leasing, small loans, and securities trading[12]. - The company is adopting new accounting standards effective January 1, 2024, which may impact financial reporting[11]. - The company is focusing on expanding its financing lease and small loan services, which are key growth areas[18]. - The company plans to enhance its market presence through strategic partnerships and potential acquisitions in the financial services sector[18]. - The company has adjusted its business strategy to focus on small loans, allocating most resources to the development of real estate second mortgage products[50]. Employee and Operational Costs - Employee benefits expenses decreased from approximately RMB 12.0 million to RMB 11.4 million for the six months ending June 30, 2024[62]. - Other operating expenses amounted to approximately RMB 7.4 million, accounting for about 13.5% of total revenue, compared to 10.7% for the six months ending June 30, 2023[63]. - Financial costs for the six months ended June 30, 2024, totaled RMB 6,270 thousand, up from RMB 4,954 thousand in 2023[21]. Shareholder Information - The proposed final dividend for the six months ended June 30, 2024, is RMB 4,269,000, compared to RMB 4,154,000 for the same period in 2023, representing an increase of approximately 2.8%[6][7]. - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[27]. - The company’s total equity as of June 30, 2024, was RMB 573,976,000, slightly up from RMB 574,982,000 as of June 30, 2023[6][7]. Corporate Governance - The company has adhered to all corporate governance codes and best practices as of June 30, 2024[86]. - The Audit Committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements without any objections[87]. - The company has adopted the standard code for securities trading by directors and confirmed compliance with the relevant regulations[88]. Future Plans and Developments - The company aims to enhance its internal information systems to improve risk management capabilities and control costs effectively[85]. - The company is committed to digital transformation and resource integration across its business units to respond to complex economic conditions[85]. - The mid-term report for 2024 will be published on the company's and the stock exchange's websites[89].
浩森金融科技(03848) - 2024 - 中期业绩