Financial Performance - Revenue for the six months ended June 30, 2024, increased by 17.07% to approximately RMB 189.3 million from RMB 161.7 million for the same period in 2023[2] - Gross profit rose by 8.07% to RMB 26.9 million, compared to RMB 24.9 million in the previous year[1] - Profit before tax decreased by 34.24% to RMB 14.8 million, down from RMB 22.5 million in the prior period[1] - Net profit for the period fell by 25.38% to RMB 12.4 million, compared to RMB 16.7 million for the same period in 2023, resulting in a net profit margin decline from 10.32% to 6.57%[3] - Total comprehensive income for the period decreased by 23.03% to RMB 12.6 million from RMB 16.4 million in the previous year[3] - Basic and diluted earnings per share were RMB 0.012, a decrease of 29.41% from RMB 0.017 in the prior period[3] Dividends and Shareholder Returns - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2024[3] - The company did not recommend any dividends for the six months ended June 30, 2024, but declared a special dividend of HKD 0.03 per share for the year ended December 31, 2023[25] - The company has not declared an interim dividend for the six months ending June 30, 2024[71] Cash Flow and Liquidity - Cash and cash equivalents decreased to RMB 153.1 million from RMB 223.7 million as of December 31, 2023[7] - Total assets less current liabilities increased to RMB 400.9 million from RMB 389.0 million as of December 31, 2023[7] - The group incurred a total tax expense of RMB 2,335,000 for the six months ended June 30, 2024, down from RMB 5,797,000 in the same period of 2023, a decrease of 59.8%[16] - Trade receivables as of June 30, 2024, amounted to RMB 85.253 million, an increase from RMB 70.754 million as of December 31, 2023[21] - Trade payables increased to RMB 48.998 million as of June 30, 2024, compared to RMB 42.213 million as of December 31, 2023[23] Revenue Breakdown - Revenue for aluminum alloy turbine sales reached RMB 183,907,000 for the six months ended June 30, 2024, compared to RMB 157,434,000 for the same period in 2023, representing a growth of 16.7%[11] - Total revenue for the group was RMB 189,315,000 for the six months ended June 30, 2024, up from RMB 161,708,000 in the previous year, indicating an increase of 17.1%[11] - Total sales revenue from aluminum alloy wheels rose from approximately RMB 157.4 million for the six months ended June 30, 2023, to approximately RMB 183.9 million for the six months ended June 30, 2024, marking an increase of about 16.82%[32] - Revenue from overseas markets accounted for approximately 71% of total revenue, increasing by about 27.24% from RMB 102.7 million to RMB 130.7 million during the same periods[33] Costs and Expenses - Research and development costs increased to RMB 6,660,000 for the six months ended June 30, 2024, compared to RMB 3,750,000 in the previous year, marking an increase of 77.3%[15] - The cost of inventory for the six months ended June 30, 2024, was RMB 162,403,000, up from RMB 136,805,000 in the same period of 2023, representing an increase of 18.7%[15] - The total employee cost for the reporting period was approximately RMB 24.2 million, an increase from RMB 21.5 million for the same period in 2023, attributed to increased production[68] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, ensuring compliance since January 1, 2024[72] - The audit committee has reviewed the interim financial information for the six months ending June 30, 2024, which has not been audited but has been reviewed by KPMG[78] - The company has committed to maintaining high levels of corporate governance to protect shareholder interests and enhance corporate value[72] Future Outlook and Investments - The company remains optimistic about future growth prospects despite uncertainties in the industry and overall business environment[30] - The company plans to expand production capacity with an allocation of 42.8 million HKD, expected to be completed by November 2024[70] - A total of 27.2 million HKD is designated for the construction of new production facilities and warehouses, also expected by November 2024[70] Financial Risks - The company faced various financial risks, including credit risk, liquidity risk, interest rate risk, and currency risk, with a focus on managing these through monitoring and assessment[62][67]
步阳国际(02457) - 2024 - 中期业绩