Financial Performance - Revenue increased by approximately 37.5% from RMB 821,476,000 in the previous period to RMB 1,129,916,000 in the review period[1] - Profit for the period rose by approximately 16.3% to RMB 78,508,000 from RMB 67,500,000 in the previous period[2] - Profit attributable to equity holders of the parent increased by approximately 9.5% to RMB 73,961,000 from RMB 67,549,000[2] - Basic earnings per share increased by 9.1% to approximately RMB 0.12 from RMB 0.11 in the previous period[2] - Total comprehensive income for the period amounted to RMB 70,786,000, compared to RMB 66,880,000 in the previous period[3] - The company reported a gross profit of RMB 221,016 thousand for the six months ended June 30, 2024, compared to RMB 173,921 thousand in 2023, indicating improved profitability[19] - Gross profit increased by about 28.5% to approximately RMB 198,845,000, with a gross margin decline of about 1.2 percentage points to approximately 17.6%[32] Assets and Liabilities - Non-current assets decreased from RMB 1,093,960,000 to RMB 1,060,790,000[4] - Current assets increased from RMB 2,189,216,000 to RMB 2,382,476,000[4] - Total liabilities increased from RMB 1,626,352,000 to RMB 1,767,569,000[4] - Net assets attributable to equity holders of the parent increased from RMB 1,522,981,000 to RMB 1,537,864,000[5] - Non-current assets as of June 30, 2024, totaled RMB 1,045,993 thousand, a decrease from RMB 1,078,857 thousand as of December 31, 2023[12] - The total amount of trade receivables increased to RMB 508,406,000 from RMB 558,356,000, with trade receivables of RMB 439,664,000[24] - The total accounts payable decreased to RMB 488,255,000 from RMB 587,651,000[25] - The net current assets as of June 30, 2024, were approximately RMB 614,907,000, an increase from RMB 562,864,000 as of December 31, 2023[42] - The total assets as of June 30, 2024, were approximately RMB 3,443,266,000, compared to RMB 3,283,176,000 as of December 31, 2023[42] Sales and Market Performance - Domestic sales contributed approximately 47.7% of total revenue, amounting to RMB 538,944,000, a year-on-year increase of about 56.4%[27] - Overseas sales accounted for approximately 52.3% of total revenue, totaling RMB 590,972,000, with a year-on-year increase of about 23.9%[27] - Sales of linen yarn, hemp yarn, and waste accounted for RMB 1,106,745 thousand, up from RMB 802,256 thousand, reflecting a significant growth in product sales[16] - The average selling price of linen yarn increased, despite a slight decrease in sales volume from 7,275 tons to 7,179 tons, a reduction of 1.3%[26] - Domestic sales in China grew by 56.4%, while export sales to the EU and non-EU regions rose by approximately 5.3% and 42.8%, respectively[31] Costs and Expenses - The company incurred research and development expenses of RMB 8,746 thousand for the six months ended June 30, 2024, down from RMB 12,656 thousand in the previous year, indicating a focus on cost management[19] - Interest expenses on bank loans increased to RMB 18,512 thousand in the first half of 2024, compared to RMB 16,235 thousand in the same period of 2023[18] - The group reported a total tax expense of RMB 29,752,000 for the period, compared to RMB 20,984,000 in the previous year[7] - The financial costs totaled approximately RMB 18,660,000, up from RMB 15,326,000 in the previous period[37] - The total employee cost for the review period was approximately RMB 79,101,000, a decrease from RMB 80,261,000 in the previous period, with a total of 3,736 employees as of June 30, 2024[50] Corporate Governance and Strategy - The company aims to enhance long-term shareholder returns by implementing a strategy focused on sustainable development and technological innovation[56] - The company is committed to good corporate governance practices to enhance investor confidence, and it has adhered to the corporate governance code throughout the review period, except for a specific deviation noted[63] - The chairman and CEO roles are separated, with Mr. Ren Wei Ming serving as chairman, ensuring a balance of power and effective operations within the company[64] - An audit committee has been established in accordance with the listing rules, consisting of three independent non-executive directors, and the interim results have been reviewed without dissent[65] Future Outlook and Risks - The company anticipates a bountiful year for raw materials in 2024, expecting sufficient supply to strategically release production capacity[54] - The company faces risks related to demand for linen yarn, trade protectionism, and potential punitive tariffs on Chinese products[53] - The company has no plans for significant acquisitions or capital assets, except for maintenance of existing factory projects and potential establishment of a factory in Egypt or North Africa[48] - The company has not recorded any significant derivative financial assets or liabilities as of June 30, 2024[49] - There have been no significant events disclosed since December 31, 2023[52] Dividends - The group did not declare any interim dividends for the six months ended June 30, 2024, consistent with the previous year[22] - No interim dividend has been recommended for the six months ending June 30, 2024, consistent with the previous year[57] - As of June 30, 2024, a total of 13,230,750 shares are held by the trustee for future grants, representing approximately 2.1% of the company's issued shares[60]
金达控股(00528) - 2024 - 中期业绩