Financial Performance - For the six months ended June 30, 2024, the company's revenue was approximately RMB 212.1 million, a decrease of about 9.0% compared to RMB 233.2 million for the same period in 2023[1]. - The gross profit for the same period was approximately RMB 57.2 million, down about 19.9% from RMB 71.4 million in 2023, resulting in a gross margin of approximately 27.0% compared to 30.6% in the prior year[1]. - The net profit for the six months ended June 30, 2024, was approximately RMB 7.7 million, a significant decrease of about 63.3% from RMB 21.0 million in 2023[1]. - The company’s operating profit for the six months was approximately RMB 10.8 million, down from RMB 29.3 million in the previous year[3]. - The company reported a total comprehensive income of RMB 8.3 million for the period, compared to RMB 21.2 million in 2023[4]. - Basic earnings per share for the six months ended June 30, 2024, were RMB 1,073, compared to RMB 13,639 for the same period in 2023[32]. - Profit for the period decreased from approximately RMB 21.0 million to about RMB 7.7 million, with profit attributable to owners decreasing from approximately RMB 13.6 million to about RMB 1.1 million[64]. Revenue Breakdown - Total revenue from external customers reached RMB 212,119,000, with property management contributing RMB 202,226,000, elderly care services RMB 4,319,000, and other services RMB 5,574,000[21]. - Property management services generated revenue of RMB 169,230,000 for the six months ending June 30, 2024, compared to RMB 147,455,000 in the previous year, reflecting an increase of about 14.7%[17]. - Revenue from community value-added services decreased to RMB 20,268,000 for the six months ending June 30, 2024, down from RMB 36,062,000 in the previous year, indicating a decline of approximately 43.8%[17]. - IT and smart construction services revenue fell to RMB 2,508,000 for the six months ending June 30, 2024, compared to RMB 6,758,000 in the same period last year, a decrease of about 63.0%[17]. - Revenue from non-owner value-added services decreased by 56.2% to RMB 18.3 million, while community value-added services decreased by 44.0% to RMB 24.6 million[49][52]. Assets and Liabilities - The company’s total assets less current liabilities amounted to RMB 343.6 million as of June 30, 2024, compared to RMB 337.7 million at the end of 2023[6]. - The company’s equity attributable to shareholders was RMB 332.3 million, slightly up from RMB 330.3 million at the end of 2023[7]. - Total assets as of June 30, 2024, amounted to RMB 594,014,000, with reportable segment assets of RMB 316,683,000 in property management and RMB 213,939,000 in elderly care services[22]. - Reportable segment liabilities totaled RMB 252,652,000, with property management liabilities at RMB 15,527,000 and elderly care services at RMB 216,584,000[22]. - The company’s total liabilities increased to RMB 69,761,000 as of June 30, 2024, from RMB 72,740,000 as of December 31, 2023[38]. Cash Flow and Financing - As of December 31, 2022, the net cash flow to the parent company, 力高地產集團, was approximately RMB 107.5 million, primarily related to non-trade payables and refundable deposits[12]. - The actual interest rate on bank and other borrowings as of June 30, 2024, was approximately 4.68%, down from 5.85% as of December 31, 2023[41]. - Bank and other borrowings decreased from approximately RMB 14.6 million to approximately RMB 12.7 million, with cross-default clauses triggered due to the default of the controlling shareholder[72]. - Cash and cash equivalents decreased from approximately RMB 178.9 million to approximately RMB 124.1 million[73]. Employee and Operational Metrics - The total employee cost for the six months ended June 30, 2024, was approximately RMB 84.1 million, compared to RMB 85.1 million for the same period in 2023, with a total of 1,990 full-time employees[83]. - Employee costs increased to RMB 84,105,000 from RMB 85,100,000 year-on-year, with salaries and allowances at RMB 66,753,000[28]. - The company ranked 33rd among the top 100 property management companies in China in 2024, up from 35th in 2023[46]. Strategic Initiatives - The company plans to acquire nine target companies, with a refundable deposit of approximately RMB 30.8 million paid during the period from October to December 2022[11]. - The company plans to expand into health and smart technology sectors, enhancing community value-added services and promoting sustainable development[47]. - The company aims to integrate emerging technologies and sustainable development trends to deepen service innovation and expand project dimensions in the second half of 2024[47]. Compliance and Governance - The company is currently fulfilling the resumption guidance provided by the stock exchange, which includes conducting a legal investigation and publishing the results[84]. - An independent internal control consultant has been appointed to audit the company's internal control systems as part of the resumption guidance[87]. - The audit committee has reviewed the accounting standards and practices adopted by the group for the six months ended June 30, 2024[89].
力高健康生活(02370) - 2024 - 中期业绩