Financial Performance - The company reported revenue of RMB 124.66 million for the six months ended June 30, 2024, representing a 31.3% increase from RMB 94.88 million in the same period of 2023[7]. - Gross profit for the same period was RMB 23.40 million, up 75.8% from RMB 13.34 million year-on-year[7]. - The net profit for the period was RMB 0.88 million, a significant recovery from a net loss of RMB 3.58 million in the previous year[7]. - The company achieved a basic and diluted earnings per share of RMB 0.08, recovering from a loss per share of RMB 0.37 in the previous year[7]. - The pre-tax profit for the six months ended June 30, 2024, was RMB 1,151,000, compared to a pre-tax loss of RMB 3,359,000 for the same period in 2023[19][20]. - The net profit attributable to the company's owners for the six months ended June 30, 2024, was RMB 880,000, compared to a loss of RMB 3.58 million in the same period of 2023[33]. - The group reported a profit of approximately RMB 880,000, an increase of about RMB 4,464,000 or 124.6% compared to a loss in the corresponding period in 2023 (RMB 3,584,000)[53]. Assets and Liabilities - Total assets increased to RMB 236.17 million as of June 30, 2024, compared to RMB 183.78 million at the end of 2023, marking a growth of 28.5%[8]. - The company's current liabilities rose to RMB 100.84 million, up from RMB 67.47 million at the end of 2023, indicating increased operational activity[8]. - The total liabilities as of June 30, 2024, were RMB 110,048,000, up from RMB 79,110,000 as of December 31, 2023, reflecting an increase of approximately 39.1%[22][23]. - The net asset value increased to RMB 126.12 million as of June 30, 2024, compared to RMB 104.67 million at the end of 2023, reflecting a growth of 20.5%[9]. - As of June 30, 2024, the total equity attributable to owners of the company reached RMB 126,121 thousand, an increase from RMB 123,148 thousand as of January 1, 2023, reflecting a growth of approximately 2.4%[10]. - As of June 30, 2024, the total equity attributable to the owners of the company was approximately RMB 126,121,000, up from RMB 104,665,000 as of December 31, 2023[55]. Cash Flow and Operating Activities - The net cash generated from operating activities for the six months ended June 30, 2024, was RMB 2,291 thousand, compared to RMB 22,683 thousand for the same period in 2023, indicating a significant decline of approximately 89.9%[11]. - The company’s operating cash flow before changes in working capital was RMB 2,331 thousand for the six months ended June 30, 2024, compared to a negative RMB 735 thousand for the same period in 2023[11]. - Cash and cash equivalents at the end of June 30, 2024, amounted to RMB 72,039 thousand, an increase from RMB 69,923 thousand at the end of June 30, 2023, representing a growth of approximately 3.0%[11]. - The company’s investment activities generated a net cash inflow of RMB 16,850 thousand for the six months ended June 30, 2024, compared to RMB 19,204 thousand for the same period in 2023, reflecting a decrease of approximately 6.9%[11]. Revenue Breakdown - The revenue breakdown includes RMB 103,126,000 from inflatable products, RMB 7,092,000 from dental clinic services, and RMB 14,003,000 from yarn and polyester sales[25]. - Revenue from the sale of inflatable products and related accessories was approximately RMB 103.57 million, up RMB 13.77 million or 15.3% from RMB 89.79 million in the previous year[46]. - Revenue from dental clinic services increased to approximately RMB 7.09 million, a rise of RMB 2.00 million or 39.3% compared to RMB 5.09 million in 2023[46]. - For the six months ended June 30, 2024, the total revenue from external customers was RMB 124,660,000, representing an increase from RMB 94,882,000 for the same period in 2023, which is a growth of approximately 31.3%[25]. Expenses and Costs - The cost of sales for the period was approximately RMB 101.26 million, an increase of RMB 19.71 million or 24.2% from RMB 81.54 million in the same period last year[47]. - Distribution and selling expenses amounted to approximately RMB 12,483,000, an increase of about RMB 2,167,000 or 21.0% compared to the corresponding period in 2023 (RMB 10,316,000)[50]. - Administrative expenses were approximately RMB 10,466,000, an increase of about RMB 1,278,000 or 13.9% compared to the corresponding period in 2023 (RMB 9,188,000)[51]. - Financial costs were approximately RMB 558,000, a decrease of about RMB 77,000 or 12.1% compared to the corresponding period in 2023 (RMB 635,000) mainly due to reduced interest on lease liabilities[52]. Strategic Initiatives - The company plans to expand its market presence and invest in new product development to drive future growth[7]. - The company is focusing on enhancing its distribution and sales strategies to improve operational efficiency and profitability[7]. - The company has maintained its risk management policies without significant changes since the end of the last fiscal year[16]. - The company aims to attract and retain valuable talent through its stock option plan, which is designed to reward contributions to the group[66]. Corporate Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited financial results for the period and confirmed compliance with applicable accounting standards and GEM listing rules[71]. - The company has adhered to the corporate governance code as per GEM listing rules during the reporting period[70]. - The board of directors has confirmed compliance with the trading standards for securities transactions during the reporting period[68]. Acquisitions and Investments - The company acquired 100% equity of Hong Kong Shengke Holdings Limited and Hong Kong Taixing Holdings Limited in 2023 and 2024, respectively, expanding its business into dental clinic operations and polyester sales[45]. - The group completed the acquisition of 100% equity in Hong Kong Tai Hing Holdings Limited in January 2024, which engages in yarn and polyester sales in China[56]. - The company reported no acquisitions of intangible assets during the period, compared to RMB 27,000 in the previous year[36]. Employee Information - As of June 30, 2024, the group had 567 full-time employees, with total employee compensation of approximately RMB 26,096,000, an increase from RMB 22,530,000 in 2023[62].
中国口腔产业(08406) - 2024 - 中期财报