Financial Performance - For the six months ended June 30, 2024, total revenue was RMB 62,795,000, a decrease of 14.3% compared to RMB 73,287,000 for the same period in 2023[2] - Gross profit for the period was RMB 17,192,000, down 22.7% from RMB 22,235,000 in the previous year[2] - Operating profit decreased to RMB 2,777,000, a decline of 33.4% from RMB 4,166,000 year-on-year[2] - The company reported a net profit of RMB 750,000, slightly up from RMB 746,000 in the same period last year[3] - Basic and diluted earnings per share were RMB 0.0009, compared to RMB 0.0002 for the same period in 2023[2] - The impairment loss on financial assets for the six months ended June 30, 2024, was RMB 6,501,000, while the impairment reversal for the same period in 2023 was RMB 2,553,000[12][13] - The company experienced a foreign exchange gain of RMB 552,000 for the six months ended June 30, 2024, compared to a loss of RMB 1,275,000 in the same period of 2023[14] - The company reported a net other income of RMB 560,000 for the six months ended June 30, 2024, compared to a net loss of RMB 1,715,000 in the same period of 2023[14] - The smart energy business generated revenue of approximately RMB 46,347,000, a decrease of about 8.8% compared to RMB 50,820,000 in the same period last year, primarily due to natural degradation of power stations[33] - Total revenue from existing photovoltaic power stations was RMB 34,319,000, down from RMB 37,243,000 in the same period last year[32] - The public construction business generated revenue of RMB 16,448,000, down from RMB 22,467,000 in the same period last year, resulting in a loss of RMB 9,000 compared to a profit of RMB 388,000 last year[34] - Total revenue and gross profit for the period were RMB 62,795,000 and RMB 17,192,000, respectively, representing declines of 14.3% and 22.7% year-on-year[36][37] - The gross profit margin decreased to 27% from 30% in the same period last year, primarily due to reduced revenue from higher-margin photovoltaic power generation[37] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 1,113,128,000, a decrease from RMB 1,136,591,000 at the end of 2023[4] - Non-current assets totaled RMB 452,115,000, down from RMB 464,336,000 at the end of 2023[4] - Current assets decreased to RMB 661,013,000 from RMB 672,255,000 at the end of 2023[4] - Total liabilities were RMB 263,809,000, down from RMB 285,178,000 at the end of 2023[5] - The company reported a total of RMB 1,113,128,000 in assets and RMB 263,809,000 in liabilities as of June 30, 2024[12] - The total provision for expected credit losses on trade receivables was RMB 180,762,000 as of December 31, 2023, and RMB 181,100,000 as of June 30, 2024[20] - The total amount of trade receivables over one year was RMB 132,972,000 as of June 30, 2024, up from RMB 117,278,000 as of December 31, 2023[25] - The overdue trade receivables over three years amounted to RMB 299,589,000 as of June 30, 2024, compared to RMB 278,377,000 as of December 31, 2023[19] - The total provision for losses on trade receivables related to electricity sales was RMB 13,633,000 as of December 31, 2023[23] Business Focus and Operations - The company continues to focus on smart energy and public construction sectors, with major shareholders being Harvest Oak Holdings Limited and Lightway Power Holdings Limited[6] - The company holds and operates photovoltaic power stations and invests in public construction projects, which are the main business activities[31] - The company has trade receivables from photovoltaic power stations valued at RMB 174,581,000 as of June 30, 2024, which are pledged as collateral for loans[18] Employee and Governance - The group employed 52 staff as of June 30, 2024, down from 67 employees as of December 31, 2023[49] - The group has complied with the corporate governance code, with a noted deviation regarding the roles of the CEO and Chairman being held by the same individual[51] - The interim financial information has been reviewed by external auditors and complies with applicable accounting standards[53] Dividends and Fundraising - The company did not declare any dividends to shareholders for the six months ended June 30, 2024, consistent with the previous year[30] - The group has not engaged in any fundraising activities during the reporting period[49] Other Financial Information - Cash and cash equivalents as of June 30, 2024, were approximately RMB 212,403,000, down from RMB 227,743,000 as of December 31, 2023[41] - Current assets totaled approximately RMB 661,013,000, with a current ratio of 6.85, up from 6.53 at the end of the previous year[42] - External borrowings amounted to RMB 147,050,000, down from RMB 160,500,000 at the end of the previous year, with no significant debt repayment risk[43][45] - The group's external borrowings are subject to annual interest rates ranging from 4.94% to 5.18%, with a current rate of 5.04% to 5.28% as of December 31, 2023[46] - As of June 30, 2024, the group has no investment commitments, compared to RMB 101.6 million as of December 31, 2023, primarily related to a joint venture[48] - The group reported no significant contingent liabilities as of June 30, 2024, consistent with the previous period[49] - There were no significant acquisitions or investments during the reporting period[49] - The group has no major subsequent events reported after June 30, 2024[50]
鑫达投资控股(01281) - 2024 - 中期业绩