Financial Performance - Revenue for the six months ended June 30, 2024, was approximately RMB 0.4 million, a decrease of about 81.0% compared to RMB 2.1 million in the same period last year[1]. - Gross profit for the same period was approximately RMB 0.3 million, down approximately RMB 1.1 million or about 78.6% year-on-year[1]. - Loss attributable to equity shareholders for the period was approximately RMB 8.4 million, an increase in loss of about RMB 8.0 million compared to a loss of RMB 0.4 million in the same period last year[1]. - The group recorded a net loss of RMB 8.428 million for the six months ended June 30, 2024[4]. - The basic and diluted loss per share for the period was RMB 0.39, compared to RMB 0.02 in the same period last year[2]. - The net loss before tax for the six months ended June 30, 2024, was RMB 8,428,000, compared to a loss of RMB 387,000 for the same period in 2023, indicating a significant increase in losses[14]. - The company reported customer contract revenue of RMB 2,134,000 for the six months ended June 30, 2023, which decreased to RMB 355,000 for the same period in 2024, representing a decline of approximately 83.4%[8]. - The company reported a pre-tax loss of approximately RMB 8.4 million for the six months ended June 30, 2024, an increase in loss of about RMB 8.0 million compared to a pre-tax loss of RMB 0.4 million in the same period last year[26]. Cash Flow and Liquidity - Cash and cash equivalents as of June 30, 2024, were RMB 15.793 million, down from RMB 236.748 million as of December 31, 2023[3]. - The company is actively pursuing measures to improve liquidity, including recovering trade receivables and discussing loan extensions with creditors[4]. - The company had a net cash outflow from operating activities of approximately RMB 215.4 million for the six months ended June 30, 2024[36]. - As of June 30, 2024, the company's cash and cash equivalents were approximately RMB 15.8 million, a decrease of approximately 93.3% from RMB 236.7 million as of December 31, 2023, primarily due to cash used for investing in new film and television projects[36]. Receivables and Payables - Trade and other receivables increased significantly to RMB 233.031 million from RMB 27.195 million as of December 31, 2023[3]. - The company had trade and other receivables amounting to RMB 232,973,000 as of June 30, 2024, compared to RMB 18,754,000 as of December 31, 2023, indicating a substantial increase[18]. - The company’s trade payables decreased to RMB 8,732,000 as of June 30, 2024, down from RMB 15,463,000 as of December 31, 2023, reflecting a decline of approximately 43.0%[21]. - The average accounts receivable turnover period was approximately 5,454 days for the six months ended June 30, 2024, significantly reduced from 12,275 days in the same period last year, due to enhanced collection efforts[37]. Financing and Debt - The company recorded a net financing cost of RMB 7,974,000 for the six months ended June 30, 2024, up from RMB 4,874,000 in the same period of 2023, reflecting a rise of approximately 63.1%[11]. - The net financing cost for the six months ended June 30, 2024, was approximately RMB 8.0 million, an increase of approximately RMB 3.1 million compared to RMB 4.9 million for the same period in 2023, mainly due to the provision for certain loan penalties[33]. - The company’s debt as of June 30, 2024, amounted to approximately RMB 89.6 million, compared to RMB 87.1 million as of December 31, 2023, with a fixed annual interest rate ranging from 4.75% to 12.3%[38]. Profitability and Expenses - The company reported a net gain from the sale of a subsidiary amounting to RMB 4,416,000 for the six months ended June 30, 2024, with no such gain reported in the same period of 2023[10]. - Administrative expenses decreased to approximately RMB 5.9 million for the six months ended June 30, 2024, a reduction of about 24.4% compared to RMB 7.8 million in the same period last year[29]. - Employee costs for the six months ended June 30, 2024, were approximately RMB 3.5 million, down from RMB 5.4 million in the same period last year, mainly due to the sale of certain subsidiaries[41]. - The company’s interest income decreased to RMB (231,000) for the six months ended June 30, 2024, compared to RMB (1,816,000) in the same period of 2023, indicating a reduction in interest income[11]. Market and Industry Outlook - The total box office revenue for the Chinese film market in the first half of 2024 was approximately RMB 23.895 billion, a year-on-year decrease of about RMB 2.366 billion, representing a decline of 9%[24]. - The number of new films released in the first half of 2024 was 237, a slight decrease of 6 films compared to the previous year, indicating stability in film supply[24]. - The company maintains an optimistic outlook for the long-term development of the Chinese film and television industry as the economy gradually recovers[47]. Corporate Governance - The board of directors is actively seeking candidates to fill the vacancy of an independent non-executive director following the resignation of Liu Chenhong on April 18, 2024[50]. - The company has applied for an extension until October 17, 2024, to comply with the minimum number of independent non-executive directors required by listing rules[52]. - The audit committee reviewed the group's accounting principles and practices, confirming that the interim results comply with applicable accounting standards[55]. - The board does not recommend the distribution of an interim dividend for the six months ending June 30, 2024[56].
一元宇宙(01616) - 2024 - 中期业绩