Financial Performance - For the first half of 2024, the company's revenue was approximately RMB 177.21 million, an increase of about 9.75% compared to the same period in 2023[1]. - The company's profit before tax for the first half of 2024 was approximately RMB 39.51 million, reflecting an increase of about 4.05% year-on-year[1]. - The profit attributable to equity holders of the company for the first half of 2024 was approximately RMB 21.62 million, up by about 9.20% from the same period in 2023[1]. - The total comprehensive income for the first half of 2024 was RMB 22.10 million, compared to RMB 28.75 million in the same period of 2023[3]. - The company reported a pre-tax profit of RMB 60,061,000 for the six months ended June 30, 2024, up from RMB 39,265,000 in the same period of 2023, reflecting a growth of 53.0%[13]. - The group's profit before tax increased by approximately RMB 1.54 million or about 4.06% to approximately RMB 39.51 million for the six months ended June 30, 2024, compared to approximately RMB 37.97 million for the same period in 2023[96]. - The group's profit for the period decreased by approximately RMB 2.51 million or about 9.16% to approximately RMB 24.89 million for the six months ended June 30, 2024, compared to approximately RMB 27.40 million for the same period in 2023[98]. - The net profit margin decreased from approximately 16.97% in the same period of 2023 to approximately 14.04% for the six months ended June 30, 2024[99]. Revenue Sources - The net income from guarantee fee revenue for the first half of 2024 was RMB 116.92 million, compared to RMB 105.88 million in the same period of 2023[2]. - Guarantee fee income increased to RMB 119,576,000 for the six months ended June 30, 2024, from RMB 108,571,000 in the same period of 2023, representing a growth of 10.5%[10]. - Net interest income rose to RMB 47,122,000 for the six months ended June 30, 2024, compared to RMB 43,321,000 for the same period in 2023, marking an increase of 6.5%[10]. - Small loan business interest income increased by approximately RMB 4.31 million or 14.61% to approximately RMB 33.82 million for the six months ended June 30, 2024, compared to RMB 29.51 million for the same period in 2023[87]. Assets and Liabilities - The total assets as of June 30, 2024, were RMB 3,710.17 million, a decrease from RMB 3,788.24 million as of December 31, 2023[4]. - The total liabilities as of June 30, 2024, were RMB 1,371.09 million, down from RMB 1,432.49 million at the end of 2023[4]. - The company's cash and bank deposits as of June 30, 2024, were RMB 850.74 million, a decrease from RMB 1,222.78 million as of December 31, 2023[4]. - The total amount of accounts payable decreased to RMB 12,803,000 as of June 30, 2024, from RMB 20,367,000 as of December 31, 2023, indicating a decline of 37.0%[53]. - The company's total liabilities related to guarantees decreased to RMB 270,639,000 as of June 30, 2024, from RMB 265,754,000 as of December 31, 2023, indicating a slight increase of 1.3%[51]. Employee Costs - The company incurred employee costs of RMB 37,424,000 for the six months ended June 30, 2024, down from RMB 48,376,000 in the same period of 2023, a decrease of 22.7%[14]. - As of June 30, 2024, the total number of employees in the company is 289, a decrease from 294 as of December 31, 2023[127]. Dividends - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[1]. - The company declared a final cash dividend of RMB 31.22 million for the fiscal year ending June 30, 2024[62]. - The final cash dividend of RMB 54.63 million was paid on July 7, 2023, for the dividend declared on June 28, 2023[63]. Risk Management - The company conducts monthly regulatory oversight for projects with operational risks and special post-monitoring for high-risk projects[78]. - Risk assessment is performed based on macroeconomic changes, with stricter standards for high-risk industries and projects[78]. - The company categorizes post-project risks into five levels, adjusting monitoring levels and strategies accordingly[79]. - In case of customer default, the company must pay the outstanding principal and accrued interest to the lending bank[79]. - The company initiates collection procedures after customer defaults, including contacting customers and assessing their repayment capabilities[82]. Investments and Acquisitions - The company has not made any significant investments or acquisitions during the six months ended June 30, 2024[126]. - The company’s capital expenditure commitment includes a contract for the purchase of office buildings for a total consideration of RMB 28,605.3 million, with RMB 20,000,000 already paid as of June 30, 2024[65]. Economic Context - The GDP of China reached RMB 616,836 million in the first half of 2024, with a year-on-year growth of 5.0%[68]. - The contribution of final consumption expenditure to economic growth in the first half of 2024 was 60.5%, driving GDP growth by 3.0 percentage points[68]. Corporate Governance - The board believes that the current arrangement of having the same individual serve as both chairman and CEO is beneficial for ensuring stable leadership[131]. - The audit committee has reviewed the unaudited consolidated interim financial statements for the six months ended June 30, 2024[130]. - The company has adopted a standard code for securities trading for its directors and supervisors, confirming compliance during the reporting period[132].
中盈盛达融资担保(01543) - 2024 - 中期业绩