Financial Performance - Revenue for the six months ended June 30, 2024, amounted to approximately RMB 1,005.0 million, representing an increase of approximately RMB 8.6 million or approximately 0.9% compared to the same period in 2023[6]. - Gross profit for the same period was approximately RMB 145.4 million, a decrease of approximately RMB 30.8 million or approximately 17.5% compared to the prior year[7]. - Net profit for the six months ended June 30, 2024, was approximately RMB 23.5 million, reflecting a decrease of approximately RMB 19.5 million or approximately 45.3% compared to the same period in 2023[8]. - Basic and diluted earnings per share attributable to ordinary equity holders of the parent for the six months ended June 30, 2024, was approximately RMB 0.02, a decrease of approximately RMB 0.01 or approximately 33.3% compared to the same period in 2023[9]. - The profit attributable to equity holders of the parent decreased by approximately 52.6% to approximately RMB 15.6 million, compared to RMB 32.9 million in the same period of 2023[16]. - The total comprehensive income for the period decreased to RMB 24,718,000 in 2024 from RMB 45,887,000 in 2023, representing a decline of 46%[151]. - Profit for the period was RMB 23,498, compared to RMB 42,970 in 2023, showing a decrease of around 45.4%[150]. Dividends - The Board declared an interim dividend of RMB 0.005 per ordinary share for the six months ended June 30, 2024, compared to RMB 0.029 per ordinary share for the same period in 2023[10]. - A special dividend of RMB 0.025 per ordinary share was declared for the six months ended June 30, 2024, while there was no special dividend in the same period of 2023[11]. - The total amount of the interim dividend is approximately RMB 4,927,000, while the special dividend amounts to approximately RMB 24,635,000 based on 985,401,000 issued shares[95]. - The dividends will be paid in Hong Kong dollars at HK$0.006 per share for the interim dividend and HK$0.027 per share for the special dividend, using an exchange rate of HK$1:RMB0.916[96]. Segment Performance - The battery materials segment revenue increased by approximately 29.3% to approximately RMB 281.9 million, accounting for approximately 28.1% of total revenue[17]. - The total revenue of the dye and agricultural chemical intermediates segment decreased by approximately 14.2% to approximately RMB 502.5 million, accounting for approximately 50.0% of the Group's overall revenue[25][26]. - Revenue from dye intermediate products decreased by approximately 20.7% to approximately RMB 228.1 million compared to the same period in 2023[22][23]. - Revenue from agricultural chemical intermediate products decreased by approximately 7.9% to approximately RMB 274.4 million compared to the same period in 2023[24][30]. - Revenue from the pigment intermediates and new materials segment increased by approximately 14.3% to approximately RMB 220.6 million, accounting for approximately 21.9% of the Group's total revenue[30][31]. Cost and Expenses - Selling and distribution expenses amounted to approximately RMB 18.9 million, representing a decrease of approximately RMB 5.0 million from approximately RMB 23.9 million in the same period of 2023[50]. - Administrative expenses decreased to approximately RMB 74.7 million, down approximately RMB 14.3 million from approximately RMB 89.0 million in the same period of 2023[51]. - Finance costs increased to approximately RMB 22.1 million, an increase of approximately RMB 12.0 million compared to approximately RMB 10.1 million in the same period of 2023[53]. - The overall gross profit margin for the Group decreased by approximately 3.2 percentage points to approximately 14.5% from 17.7% in the same period of 2023[14]. Cash Flow and Liquidity - The Group's net cash inflows from operating activities were approximately RMB 35.2 million, remaining stable compared to approximately RMB 34.7 million in the same period of 2023[60]. - Net cash outflows from investing activities were approximately RMB 10.8 million, a decrease of approximately RMB 70.0 million from approximately RMB 80.8 million in the same period of 2023[60]. - Net cash outflows from financing activities were approximately RMB 134.3 million, a decrease of approximately RMB 405.7 million compared to net cash inflows of approximately RMB 271.4 million in the same period of 2023[62]. - As of June 30, 2024, the Group had cash and cash equivalents of approximately RMB 177.4 million, down from approximately RMB 287.4 million as of December 31, 2023[65]. Assets and Liabilities - The Group's total current assets were approximately RMB 1,453.5 million as of June 30, 2024, compared to RMB 1,467.5 million as of December 31, 2023[73]. - Trade and notes receivable increased to approximately RMB 807.3 million as of June 30, 2024, up by approximately RMB 65.3 million from RMB 742.0 million as of December 31, 2023[74]. - The Group's gearing ratio improved to approximately 11.5% as of June 30, 2024, down from 15.4% as of December 31, 2023[70]. - As of June 30, 2024, total current liabilities amounted to approximately RMB 1,139.1 million, a slight decrease from RMB 1,140.2 million as of December 31, 2023[76]. Employee and Operational Metrics - For the six months ended June 30, 2024, total staff costs amounted to approximately RMB 111.6 million, an increase from approximately RMB 98.7 million for the same period in 2023, primarily due to an increase in the number of employees[89]. - As of June 30, 2024, the Group had 2,117 employees, up from 2,031 as of June 30, 2023[88]. Corporate Governance - The Company has complied with all provisions of the Corporate Governance Code except for code provision C.2.1, which requires separation of the roles of chairman and CEO[108]. - Mr. GE Yi serves as both chairman and CEO, which the Board believes provides strong and consistent leadership[109]. - The Audit Committee, comprising three independent non-executive Directors, reviewed the unaudited interim financial statements for the six months ended June 30, 2024[115]. Shareholder Information - As of June 30, 2024, the total number of issued shares was 995,676,000[125]. - Director GE Yi holds 133,337,750 shares, representing approximately 13.39% of the total shareholding[125]. - Major shareholder Cavalli holds 133,337,750 shares, representing approximately 13.39% of the total shareholding[131]. Market and Strategic Outlook - The domestic new energy vehicle industry continues to grow rapidly, becoming a significant driver for global development, despite facing challenges such as supply-demand imbalances and intensified competition[36]. - The Group plans to expand the iron phosphate production line in Dongying Factory from 50,000 tonnes/year to 70,000 tonnes/year by the end of 2024, aiming for a total production capacity of 100,000 tonnes/year[38]. - The Group's strategy includes focusing on technology innovation to drive the healthy development of the battery material segment, which is a key strategic direction for long-term growth[39].
彩客新能源(01986) - 2024 - 中期财报