Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 906.63 million, an increase of 0.92% compared to the same period in 2023[1]. - Profit before tax for the same period was RMB 200.62 million, representing a growth of 14.17% year-over-year[1]. - Net profit attributable to equity holders for the six months ended June 30, 2024, was RMB 148.14 million, an increase of 18.59% compared to the same period in 2023[1]. - Earnings per share for the six months ended June 30, 2024, was RMB 0.32, an increase of RMB 0.05 compared to the same period in 2023[1]. - Operating profit for the six months ended June 30, 2024, reached RMB 200.68 million, compared to RMB 175.72 million in 2023, indicating an increase of approximately 14.2%[6]. - Net profit for the six months ended June 30, 2024, was RMB 148.14 million, up from RMB 124.92 million in 2023, reflecting a growth of around 18.5%[7]. - Basic and diluted earnings per share for the six months ended June 30, 2024, were both RMB 0.32, compared to RMB 0.27 in 2023, marking an increase of approximately 18.5%[8]. - The company's total costs for the first half of 2024 were RMB 686,590,830.07, compared to RMB 672,736,557.40 in the same period of 2023, reflecting an increase of about 2.7%[13]. - The total income tax expense for the first half of 2024 was RMB 52,475,162.44, compared to RMB 50,787,451.54 in the first half of 2023, reflecting an increase of about 3.3%[19]. - Profit for the period for the six months ended June 30, 2024, was RMB 148.14 million, an increase of 18.59% from RMB 124.92 million in the same period of 2023, driven by reduced credit impairment losses and increased heating customer base[50]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 2,047.73 million, down from RMB 3,006.59 million as of December 31, 2023[3]. - Total current liabilities decreased to RMB 794.33 million from RMB 1,901.71 million as of December 31, 2023[4]. - Total non-current liabilities were RMB 115.41 million, slightly increased from RMB 115.04 million as of December 31, 2023[5]. - The company's equity attributable to owners increased to RMB 1,137.99 million from RMB 989.85 million as of December 31, 2023[5]. - The company's total assets as of June 30, 2024, amounted to approximately RMB 2.05 billion, while total liabilities were about RMB 909.74 million[12]. - Cash and cash equivalents as of June 30, 2024, were RMB 553.83 million, a decrease of 50.15% from RMB 1,111.04 million as of December 31, 2023, primarily due to cash flow timing differences[52]. - The group had interest-bearing bank and other borrowings totaling approximately RMB 35 million as of June 30, 2024, with a fixed interest rate of 3.9% per annum[54]. Operational Efficiency and Costs - The company experienced a significant reduction in financial expenses, with interest expenses decreasing from RMB 5.27 million in 2023 to RMB 1.72 million in 2024[6]. - The company's total construction and maintenance costs decreased from RMB 9,329,477.97 in the first half of 2023 to RMB 1,895,403.15 in the first half of 2024, a significant decline of approximately 79.7%[13]. - The gross profit for the six months ended June 30, 2024, was RMB 220.04 million, a decrease of 2.47% from RMB 225.62 million in the same period of 2023, attributed to rising labor and utility costs[46]. - Administrative expenses for the six months ended June 30, 2024, were RMB 43.23 million, a 1.77% increase from RMB 42.47 million in the same period of 2023, due to increased depreciation and personnel costs[47]. - Financial costs for the six months ended June 30, 2024, were RMB 1.72 million, a significant decrease of 67.35% from RMB 5.27 million in the same period of 2023, due to a reduction in total loans[48]. Heating Business Performance - The company is focused on expanding its heating services and enhancing its operational efficiency to drive future growth[9]. - Heating business revenue for the six months ended June 30, 2024, was RMB 900.32 million, an increase of RMB 20.98 million or 2.39% from RMB 879.34 million in the same period of 2023[29]. - The gross profit from the heating segment for the six months ended June 30, 2024, was approximately RMB 220.04 million, compared to RMB 225.62 million in 2023, showing a slight decrease[12]. - The number of heating customers served by the group was 552,448, up by 19,310 customers or 3.62% from 533,138 in the same period last year[29]. - As of June 30, 2024, the heating area of the group reached 67.437 million square meters, an increase of 2.301 million square meters or 3.53% compared to the same period in 2023[29]. Research and Development - Research and development expenses for the six months ended June 30, 2024, were RMB 804,993.79, up from RMB 758,975.06 in 2023, reflecting an increase of approximately 6.1%[6]. - The group developed an "Equipment Ledger Management System," with 90% of the development completed, expected to be launched in the second half of 2024[38]. - The group obtained one utility model patent and one invention patent, along with three software copyright certificates during the reporting period[38]. Corporate Governance and Compliance - The company has maintained high standards of corporate governance and has complied with relevant regulations during the reporting period[61]. - The audit committee has reviewed the interim results for the six months ended June 30, 2024, and agreed with the accounting treatment adopted by the company[62]. Future Plans and Strategies - The company plans to enhance heating quality and reduce energy consumption in the second half of 2024, focusing on low-emission boiler upgrades and smart heating system improvements[58]. - The company will continue to optimize heat resource allocation to address heating shortages in certain areas[58]. - The company is focused on innovation and safety in its development strategy to drive business growth[28].
春城热力(01853) - 2024 - 中期业绩