Financial Performance - For the six months ended June 30, 2024, the company reported revenue of RMB 258,715,000, a 48.0% increase from RMB 174,763,000 in the same period of 2023[1] - Gross profit for the same period was RMB 56,374,000, reflecting a 61.8% increase from RMB 34,850,000 year-over-year[1] - Net profit after deducting listing expenses reached RMB 20,289,000, up 41.9% from RMB 14,303,000 in the previous year[1] - Revenue increased by 48.0% from RMB 174.8 million for the six months ended June 30, 2023, to RMB 258.7 million for the six months ending June 30, 2024, primarily due to growth in the API market and data management solutions[10] - Revenue from the API market rose by 49.7% from RMB 122.6 million to RMB 183.5 million, driven by increased procurement from existing customers[11] - Revenue from data management solutions surged by 122.7% from RMB 15.0 million to RMB 33.4 million, attributed to a higher number of delivered projects and increased revenue per project[12] - Net profit for the period rose by 6.3% from RMB 7.9 million to RMB 8.4 million, while net profit after deducting listing expenses increased by 42.0% from RMB 14.3 million to RMB 20.3 million[21] - The company reported a total comprehensive loss of RMB 13,694 thousand for the six months ended June 30, 2024, compared to a comprehensive income of RMB 6,016 thousand in 2023[45] - The company reported a net profit before tax of RMB 27,637 thousand for the six months ended June 30, 2024, compared to RMB 9,247 thousand for the same period in 2023, indicating a significant increase of about 198.5%[56] Assets and Liabilities - As of June 30, 2024, cash and cash equivalents amounted to RMB 384,177,000, a significant increase of 208.8% compared to RMB 124,417,000 at the end of 2023[1] - The company's net assets increased to RMB 989,001,000, representing a 57.4% rise from RMB 628,417,000 as of December 31, 2023[1] - Total assets increased by 44.6% from approximately RMB 772.1 million as of December 31, 2023, to approximately RMB 1,116.2 million as of June 30, 2024, primarily due to cash balance increase from global offering proceeds[22] - The company's total equity increased to RMB 989,001 thousand as of June 30, 2024, compared to RMB 628,417 thousand as of December 31, 2023, reflecting a growth of approximately 57.4%[48] - The debt-to-equity ratio decreased from 22.9% as of December 31, 2023, to 12.9% as of June 30, 2024, mainly due to an increase in total equity following the IPO[29] - The asset-liability ratio decreased from 18.6% as of December 31, 2023, to 11.4% as of June 30, 2024, primarily due to the increase in total assets from the IPO[28] Research and Development - The company plans to increase R&D investment to enhance its competitiveness and industry influence[5] - Research and development costs decreased by 6.2% from RMB 6.5 million to RMB 6.1 million, mainly due to a reduction in salaries and a slight decrease in the number of R&D personnel allocated to data management projects[18] - The company plans to enhance R&D capabilities and attract industry talent to strengthen its technological advantages and meet digital transformation demands[8] - The company is involved in RPA (Robotic Process Automation), indicating a focus on technological advancements[66] - The company is focused on developing new products and technologies to enhance its competitive edge[66] Market and Product Development - The API market processed over 70 billion API requests in the first half of 2024, with over 790 proprietary APIs developed since its launch in June 2011[2] - The company launched ChatArts, a private deployment large language model, in June 2024, aimed at various business sectors including public security and government affairs[4] - The company aims to diversify data circulation across various sectors, including industrial, medical, and educational data, to promote government and public data sharing[10] - The company will focus on upgrading existing data management solutions and enhancing sales and marketing capabilities to mitigate potential fluctuations in service demand[9] - The company aims to expand its market presence and explore new strategies for growth[66] Governance and Compliance - The board of directors consists of four executive directors, two non-executive directors, and three independent non-executive directors, ensuring strong independence in governance[37] - The board is committed to transparency and accountability in its financial reporting and governance practices[66] - There were no significant lawsuits or arbitrations reported since the listing date, indicating a stable legal environment for the company[39] - The company has no significant contingent liabilities as of June 30, 2024[30] Financial Management - The company maintained a conservative treasury policy to minimize financial risks and ensure sufficient financial resources for operations and future investments[36] - The company plans to utilize the net proceeds from the global offering, totaling approximately HKD 344.0 million, for various purposes including upgrading API products and enhancing data management solutions by December 2026[32] - The company did not declare or recommend any dividends for the interim period, consistent with the previous year[58] - The company benefits from a reduced tax rate of 15% for certain subsidiaries registered as high-tech enterprises in China, compared to the standard rate of 25%[57] Employee and Operational Insights - Employee benefits expenses, including salaries and allowances, amounted to approximately RMB 25.0 million for the six months ended June 30, 2024[34] - The average number of ordinary shares for calculating basic and diluted earnings per share was 45,379,421 for the six months ended June 30, 2024, slightly up from 45,300,000 for the same period in 2023[59] - The company has established an employee stock ownership platform through a partnership formed in September 2016[66] Financial Reporting - The company published its prospectus on June 20, 2024, detailing its financial performance for the six months ending June 30, 2024[66] - The company has adopted several amendments to the International Financial Reporting Standards effective from January 1, 2024, which did not have a significant impact on its financial position or performance[51] - The company's income tax expense for the six months ended June 30, 2024, was RMB 1,544,000, compared to RMB 521,000 for the same period in 2023, reflecting a significant increase[57]
天聚地合(02479) - 2024 - 中期业绩