Financial Performance - For the six months ended June 30, 2024, the group's revenue was approximately RMB 4,280.2 million, a decrease of about 20.2% compared to the same period in 2023[1]. - Revenue from automobile sales for the six months ended June 30, 2024, was approximately RMB 3,673.7 million, a decrease of about 22.2% compared to the same period in 2023[1]. - The gross profit for the six months ended June 30, 2024, was RMB 203.7 million, down from RMB 319.5 million in the same period of 2023[2]. - Total revenue from after-sales services was RMB 606,492 thousand, down 5.8% from RMB 643,827 thousand in the previous year[11]. - The total revenue for the group for the six months ended June 30, 2024, was RMB 4,280,157 thousand, representing a decline of 20.2% from RMB 5,363,537 thousand in the same period of 2023[11]. - The group reported a basic and diluted earnings per share of RMB 0.05 for the six months ended June 30, 2024, compared to RMB 0.06 in the same period of 2023[2]. - The group reported a net profit for the six months ended June 30, 2024, of approximately RMB 47.5 million, a decrease of about 8.1% year-on-year, with a net profit margin rising to approximately 1.1% from 1.0% in 2023[1][2]. - Profit before tax declined by approximately 10.8% to about RMB 68.3 million[39]. - Net profit for the period decreased by approximately 8.1% to about RMB 47.5 million, with a net profit margin of approximately 1.1%[41]. Sales and Operations - The group sold a total of 9,141 passenger vehicles during the same period, an increase of approximately 8.4% year-on-year[1]. - For the six months ended June 30, 2024, total revenue from the sale of passenger vehicles was RMB 3,673,665 thousand, a decrease of 22.1% compared to RMB 4,719,710 thousand for the same period in 2023[11]. - The average selling price of vehicles dropped by approximately 28.2% to about RMB 401,900 from RMB 559,700 in the same period of 2023[32]. - The company's five largest customers accounted for approximately 7.8% of total revenue, up from 6.3% in the same period of 2023[31]. - The company operates 14 4S dealerships across seven major provinces and cities in China, focusing on luxury and ultra-luxury brands[28]. Cash and Assets - As of June 30, 2024, the group's net cash position was approximately RMB 893.7 million, an increase from RMB 535.7 million as of December 31, 2023[1]. - The group's total assets less current liabilities amounted to RMB 3,489.5 million as of June 30, 2024, compared to RMB 3,500.9 million as of December 31, 2023[5]. - The group's equity attributable to shareholders was RMB 2,701.6 million as of June 30, 2024, compared to RMB 2,693.4 million as of December 31, 2023[5]. - Trade receivables as of June 30, 2024, were RMB 46,393,000, down from RMB 54,544,000 as of December 31, 2023[25]. - The total intangible assets as of June 30, 2024, amounted to RMB 857,366,000, a decrease from RMB 877,083,000 as of December 31, 2023[21]. Expenses and Costs - Employee costs totaled RMB 143,252 thousand for the six months ended June 30, 2024, a decrease of 8.5% from RMB 156,588 thousand in the same period of 2023[13]. - Sales cost decreased by approximately 19.2% from about RMB 5,044.0 million in the same period of 2023 to about RMB 4,076.5 million[33]. - Selling and distribution expenses rose by approximately 6.5% to about RMB 290.0 million, mainly due to increased promotional expenses to boost car sales[36]. - Administrative expenses decreased by approximately 30.3% to about RMB 88.9 million, reflecting stricter control over administrative costs[37]. Dividends and Shareholder Information - The company declared an interim dividend of RMB 0.03 per ordinary share, amounting to RMB 18,675,000, compared to zero for the same period in 2023[18]. - The interim dividend payment date is expected to be on or before November 28, 2024[58]. - The company will suspend the registration of share transfers from September 12 to September 17, 2024, to determine eligibility for the interim dividend[59]. Corporate Governance and Compliance - The audit committee reviewed the unaudited interim financial results for the six months ended June 30, 2024, during a meeting held on August 26, 2024[57]. - The company has complied with all corporate governance code provisions except for the temporary dual role of the chairman and CEO held by Mr. Zhou from January 1 to March 9, 2024[54][55]. - The company did not purchase, redeem, or sell any of its listed securities during the reporting period[53].
百得利控股(06909) - 2024 - 中期业绩