Financial Performance - For the six months ended June 30, 2024, revenue increased by approximately 0.2% to RMB 215.4 million compared to RMB 215.1 million in the same period of 2023[1] - Gross profit for the same period rose by about 2.0% to RMB 25.0 million, up from RMB 24.5 million year-on-year[1] - Profit attributable to owners of the company increased by approximately 48.3% to RMB 12.4 million, compared to RMB 8.4 million in the same period of 2023[1] - Basic and diluted earnings per share for the period were RMB 0.021, compared to RMB 0.014 in the previous year[2] - The company reported an operating profit of RMB 21.4 million, up from RMB 17.0 million in the same period last year[2] - The company reported a net profit of RMB 15,534 thousand for the six months ended June 30, 2024, compared to RMB 11,729 thousand for the same period in 2023, marking an increase of 32.4%[12] - The company's attributable profit for the six months ended June 30, 2024, was approximately RMB 12.4 million, an increase from approximately RMB 8.3 million for the same period last year[40] Assets and Equity - Total assets as of June 30, 2024, amounted to RMB 392.8 million, an increase from RMB 385.4 million as of December 31, 2023[3] - Total equity increased to RMB 361.5 million from RMB 346.0 million at the end of 2023[4] - Non-current assets decreased to RMB 196.5 million from RMB 201.7 million at the end of 2023[3] - Current assets increased to RMB 196.3 million from RMB 183.7 million at the end of 2023[3] - As of June 30, 2024, the company recorded net current assets of approximately RMB 166.9 million, up from approximately RMB 145.7 million as of December 31, 2023[41] - The debt-to-asset ratio as of June 30, 2024, was approximately 0.2%, compared to approximately 0.1% as of December 31, 2023[42] Revenue Sources - Revenue from the sale of oil products was RMB 179,401 thousand for the six months ended June 30, 2024, compared to RMB 180,073 thousand in the same period of 2023, indicating a decrease of 0.37%[11] - Revenue from handling services increased by approximately 2.8% to about RMB 35.2 million, primarily due to increased overall demand[33] - Customer A contributed RMB 134,544 thousand to revenue for the six months ended June 30, 2024, compared to RMB 93,018 thousand in the same period of 2023, representing a significant increase of 44.7%[14] - Customer B's revenue contribution was RMB 44,857 thousand for the six months ended June 30, 2024, down from RMB 87,055 thousand in the same period of 2023, indicating a decrease of 48.3%[14] Expenses and Costs - The company's depreciation and amortization expenses for the six months ended June 30, 2024, were RMB 6,541 thousand, compared to RMB 6,766 thousand for the same period in 2023, reflecting a decrease of 3.3%[12] - Selling and administrative expenses decreased from approximately RMB 6.4 million to approximately RMB 6.2 million, mainly due to reduced employee benefits expenses[37] - The estimated corporate income tax expense for the six months ended June 30, 2024, was RMB 5,855,000, slightly higher than RMB 5,648,000 for the same period in 2023[20] Cash and Deposits - The company’s cash and cash equivalents and term deposits measured at fair value amounted to RMB 28,902 thousand as of June 30, 2024[11] - As of June 30, 2024, the company had cash deposits of approximately USD 1,793,000 (equivalent to RMB 12,730,000)[16] Dividends - The company does not recommend the payment of an interim dividend for the six months ended June 30, 2024[1] - The board does not recommend the payment of an interim dividend for the six months ended June 30, 2024, similar to the previous year[48] Employment and Operations - As of June 30, 2024, the group employed 213 employees, a decrease from 224 employees as of June 30, 2023, resulting in total employee costs of approximately RMB 11.0 million compared to RMB 12.0 million in the same period last year[46] - The group aims to enhance operational capabilities and efficiency while expanding its cargo handling and distribution services, focusing on cost control and deepening customer relationships[51] Investments and Commitments - The group has no significant investments or acquisitions involving subsidiaries, associates, or joint ventures as of June 30, 2024, consistent with the previous period[44] - The group's capital commitments for construction and acquisition of properties, plants, and equipment amounted to approximately RMB 1.2 million as of June 30, 2024, down from approximately RMB 2.1 million as of December 31, 2023[50] Compliance and Governance - The audit committee has reviewed the unaudited interim results for the six months ended June 30, 2024, and found that the preparation complies with applicable accounting standards and regulations[56] - The interim results announcement will be published on the company's website and the Hong Kong Stock Exchange website[58] - The board expresses gratitude for the efforts and contributions of the management team and all employees during the reporting period[59] Other Information - The company has not adopted any new accounting standards that would significantly impact the current or future reporting periods[9] - There were no pledged assets or contingent liabilities as of June 30, 2024, consistent with December 31, 2023[44] - The group has not engaged in any purchases, sales, or redemptions of its listed securities during the six months ended June 30, 2024[54] - The group has not utilized derivative financial instruments to hedge against foreign currency transactions during the reporting period, similar to the previous year[45] - The group is awaiting approval for a land use rights application for a site of 2,589.3 square meters, which is under review and has not impacted the group's operations[47] - The company has no significant events affecting the group since June 30, 2024, up to the date of this announcement[29] - The total cargo throughput for the six months ended June 30, 2024, was approximately 1,731,000 tons, an increase of about 156,000 tons or approximately 9.9% compared to 1,575,000 tons for the same period last year[30]
天源集团(06119) - 2024 - 中期业绩