Revenue and Profitability - Revenue for the six months ended June 30, 2024, was RMB 363,934,000, a significant increase from RMB 18,696,000 in the same period last year, representing a growth of approximately 1,846%[2] - Gross profit for the same period was RMB 8,176,000, compared to RMB 6,212,000 in the previous year, indicating a year-over-year increase of about 32%[2] - The company reported a loss before tax of RMB 174,000, a substantial improvement from a loss of RMB 3,914,000 in the prior year, reflecting a decrease in losses of approximately 95%[2] - The basic and diluted loss per share for the period was RMB 0.07, compared to RMB 0.06 in the previous year, indicating a slight increase in loss per share[3] - The group reported a total tax expense of RMB 2,766,000 for the six months ended June 30, 2024, compared to RMB 2,055,000 for the same period in 2023[14] Comprehensive Loss - Total comprehensive loss for the period was RMB 3,856,000, compared to RMB 3,469,000 in the previous year, showing an increase in losses of about 11%[3] - The group incurred a loss attributable to owners of the company of RMB (3,830,000) for the six months ended June 30, 2024, compared to RMB (3,348,000) for the same period in 2023[16] Assets and Liabilities - Non-current assets as of June 30, 2024, totaled RMB 113,889,000, up from RMB 91,972,000 at the end of the previous year, marking an increase of approximately 24%[4] - Current assets decreased to RMB 1,036,230,000 from RMB 1,106,964,000, a decline of about 6%[4] - Current liabilities were reported at RMB 332,253,000, down from RMB 378,523,000, indicating a reduction of approximately 12%[5] - The company's total equity attributable to owners was RMB 784,189,000, slightly down from RMB 788,061,000, reflecting a decrease of about 0.2%[5] - As of June 30, 2024, total assets amounted to RMB 1,152,290,000, with total liabilities of RMB 351,909,000, resulting in a debt-to-equity ratio of 19.5%[30] Property Development - As of June 30, 2024, the total amount of properties under development and for sale is RMB 843,068,000, compared to RMB 880,792,000 as of December 31, 2023, reflecting a decrease of approximately 4.3%[18] - The amount of properties under development increased to RMB 353,637,000 as of June 30, 2024, up from RMB 336,184,000 as of December 31, 2023, representing an increase of about 5.4%[18] - The amount of properties for sale decreased to RMB 235,920,000 as of June 30, 2024, down from RMB 291,334,000 as of December 31, 2023, indicating a decline of approximately 19%[18] Operational Performance - The group reported a total of 10,812 units sold for the Kangqiao Academy project in Henan Province, with revenue of RMB 47,025,000 from the Wugang project, indicating strong performance in these segments[10] - The group anticipates continued challenges in the real estate industry in the second half of 2024, despite expected government policies to stabilize the property market[26] - The group aims to maintain a balance between growth, efficiency, and risk management while focusing on developing high-quality properties and communities[26] Financial Management - Selling and administrative expenses decreased by 6.0% and 16.0%, respectively, due to cost control measures implemented by the group[28] - The group’s current ratio improved to 3.13 times as of June 30, 2024, compared to 2.93 times at the end of 2023[30] - The group has not presented segment information due to the integration of its business operations, focusing on overall operational performance[11] Corporate Governance and Reporting - The company has adhered to the corporate governance code as of June 30, 2024, ensuring the protection of shareholder interests and enhancing transparency[34] - The company's financial statements for the six months ending June 30, 2024, have been reviewed by an independent auditor in accordance with the relevant auditing standards[39] - The interim report will be sent to shareholders by September 30, 2024, and will also be published on the company's website[40] Other Financial Metrics - The total employee cost for the six months ending June 30, 2024, was RMB 4,079,000, an increase from RMB 3,884,000 in the same period of 2023, reflecting a growth of approximately 5.0%[33] - The group’s bank deposit interest income increased to RMB 1,755,000 for the six months ended June 30, 2024, from RMB 1,416,000 in the same period of 2023[12] - Other income from fixed rental income for investment properties increased to RMB 41,000 for the six months ended June 30, 2024, compared to RMB 24,000 in the same period of 2023[12] - The group reported a net foreign exchange loss primarily from converting bank balances and cash denominated in currencies other than RMB[31] - The group has pledged development properties amounting to RMB 136,024,000 to secure bank loans[32] Future Plans - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[6] - The group has implemented the revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on the financial position or performance[9] - The company has no significant acquisitions or disposals of subsidiaries, joint ventures, or associated companies during the reporting period[31] - No interim dividend has been recommended by the board for the six months ending June 30, 2024[37]
建德国际控股(00865) - 2024 - 中期业绩