Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 108,715 thousand, an increase of 24.6% compared to RMB 87,310 thousand for the same period in 2023[2] - Gross profit for the same period was RMB 29,547 thousand, representing a gross margin of 27.2%, up from RMB 16,204 thousand in 2023[2] - Operating profit increased significantly to RMB 13,689 thousand, compared to RMB 5,709 thousand in the prior year, reflecting a growth of 139.5%[2] - Profit before tax reached RMB 12,059 thousand, a substantial increase from RMB 4,000 thousand in the previous year, marking a growth of 201.5%[2] - Net profit attributable to owners of the company was RMB 8,958 thousand, compared to RMB 3,047 thousand in 2023, indicating a year-on-year increase of 194.5%[2] - Basic and diluted earnings per share for the period were RMB 0.90, up from RMB 0.31 in the same period last year[2] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 473,805 thousand, a slight decrease from RMB 483,130 thousand at the end of 2023[3] - Current assets amounted to RMB 347,171 thousand, down from RMB 355,999 thousand at the end of 2023[3] - The company's total equity increased to RMB 322,042 thousand from RMB 313,037 thousand at the end of 2023, reflecting a growth of 2.4%[4] - The total assets of reportable segments as of June 30, 2024, were RMB 405,808 thousand, a decrease from RMB 435,185 thousand as of December 31, 2023[11] - The total liabilities of reportable segments decreased to RMB 141,176 thousand as of June 30, 2024, from RMB 162,592 thousand as of December 31, 2023[11] Revenue Breakdown - Revenue from external customers in China was RMB 89,927 thousand for the six months ended June 30, 2024, compared to RMB 77,332 thousand in 2023, indicating a growth of 16.5%[12] - The company reported a significant increase in sales of raised flooring, generating RMB 98,451 thousand in revenue for the six months ended June 30, 2024, compared to RMB 82,304 thousand in 2023[13] - The revenue from sales of active shelving was RMB 68,697 thousand for the six months ended June 30, 2024, compared to RMB 66,451 thousand in 2023, showing a growth of 3.4%[14] - The sales revenue from all-steel raised flooring contributed approximately 78.1% of total revenue, increasing by 15.8% to approximately RMB 84.9 million[36] - The sales revenue from calcium sulfate raised flooring increased significantly by 53.2% to approximately RMB 21.4 million[36] - The newly launched aluminum alloy raised flooring generated sales revenue of approximately RMB 2.4 million[37] Segment Performance - For the six months ended June 30, 2024, total revenue from reportable segments reached RMB 108,715 thousand, a 24.6% increase from RMB 87,310 thousand in the same period of 2023[10] - The gross profit for reportable segments was RMB 29,547 thousand for the six months ended June 30, 2024, compared to RMB 16,204 thousand in 2023, reflecting an increase of 82.7%[10] - The reportable segment performance showed a profit of RMB 13,729 thousand for the six months ended June 30, 2024, up from RMB 5,183 thousand in the same period of 2023, representing a growth of 164.5%[10] Costs and Expenses - Research and development costs for the six months ended June 30, 2024, were RMB 4,287 thousand, slightly up from RMB 4,237 thousand in 2023, an increase of 1.2%[18] - The company incurred financing costs of RMB 1,630 thousand for the six months ended June 30, 2024, compared to RMB 1,709 thousand in 2023, a decrease of 4.6%[16] - Sales expenses rose by approximately RMB 1.0 million or 28.4% to about RMB 4.7 million for the period, while administrative expenses increased by approximately RMB 2.2 million or 23.3% to about RMB 11.6 million[41] Cash Flow and Investments - The group held cash and cash equivalents of approximately RMB 58.0 million as of June 30, 2024, an increase from RMB 41.9 million as of December 31, 2023[43] - The company plans to utilize HKD 20.9 million (24.4%) for the acquisition of land in Changzhou City, which has been fully utilized[49] - HKD 21.9 million (25.5%) is allocated for the construction of two new factory buildings for production and inventory, which has also been fully utilized[49] - The installation of five additional production lines has been allocated HKD 26.9 million (31.4%), fully utilized as well[49] - Environmental energy-saving facilities and equipment installation received HKD 2.2 million (2.6%), fully utilized[49] - The company has allocated HKD 5.1 million (5.9%) for the purchase of automated machinery and equipment to upgrade existing production lines, fully utilized[49] Market Outlook - The company anticipates stable growth in the demand for raised flooring products in China due to ongoing investments in new office buildings and increasing industrial land construction area[32] - The demand for raised flooring is expected to rise due to stricter government policies and the increasing number of aging office buildings in China[32] - The high-tech industry investment in China increased by 10.6%, correlating with the rising demand for data center construction and raised flooring[34] Corporate Governance - The audit committee has reviewed the interim financial results, ensuring compliance with corporate governance standards[57] - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[22] - There were no related party transactions or significant subsequent events reported during the period[52][56]
佳辰控股(01937) - 2024 - 中期业绩