Financial Performance - For the six months ended June 30, 2024, the group's revenue was approximately RMB 313.8 million, representing a year-on-year growth of about 8.8%[1] - For the same period, the company's profit attributable to owners was approximately RMB 89.1 million, a decrease of about 8.1% year-on-year[2] - The gross profit for the six months ended June 30, 2024, was RMB 161.9 million, compared to RMB 164.6 million for the same period in 2023[2] - The company's basic earnings per share for the six months ended June 30, 2024, was RMB 8.80, down from RMB 9.54 in the previous year[2] - Operating profit for the six months ended June 30, 2024, was RMB 89,100,000, down from RMB 96,962,000 in the same period of 2023, indicating a decline of 8.2%[18] - The company's profit for the six months ended June 30, 2024, was approximately RMB 86.5 million, a year-on-year decrease of about 6.0%[76] Revenue Breakdown - Customer contract revenue for the six months ended June 30, 2024, was RMB 285,119,000, an increase from RMB 271,316,000 in the same period of 2023, representing a growth of 5.5%[11] - Revenue from entrusted management services reached RMB 209,691,000 for the six months ended June 30, 2024, compared to RMB 189,983,000 in 2023, reflecting an increase of 10.4%[10] - Total revenue from commercial property operation services was RMB 313,780,000 for the six months ended June 30, 2024, up from RMB 288,487,000 in 2023, marking a growth of 8.8%[10] - Revenue from brand and management output services was approximately RMB 43.5 million, a year-on-year decrease of about 31.4%, accounting for approximately 13.8% of total revenue[64] - Revenue from whole rental services was approximately RMB 60.6 million, a year-on-year increase of about 72.3%, accounting for approximately 19.4% of total revenue[64] Cash and Assets - As of June 30, 2024, the company's cash and cash equivalents along with short-term bank deposits totaled approximately RMB 1,465.6 million, an increase of about 3.9% compared to December 31, 2023[1] - Total assets less current liabilities amounted to RMB 1,901.3 million as of June 30, 2024, compared to RMB 1,956.8 million as of December 31, 2023[4] - The company's total equity attributable to owners was RMB 1,225.3 million as of June 30, 2024, compared to RMB 1,256.8 million at the end of 2023[4] - The company's trade and other receivables increased to RMB 58,811,000 as of June 30, 2024, from RMB 53,740,000 as of December 31, 2023, representing a growth of 9.5%[19] - The company's cash and cash equivalents were approximately RMB 332.8 million as of June 30, 2024, a decrease of about 39.1% from December 31, 2023, mainly due to the management's decision to utilize idle funds for purchasing large bank certificates of deposit[80] Liabilities and Expenses - Non-current liabilities included lease liabilities of RMB 640.9 million as of June 30, 2024, down from RMB 659.2 million at the end of 2023[4] - The company reported a decrease in administrative expenses to RMB 31.8 million for the six months ended June 30, 2024, from RMB 35.8 million in the same period of 2023[2] - The company reported a net income tax expense of RMB 27,374,000 for the six months ended June 30, 2024, compared to RMB 29,815,000 in 2023, a decrease of 8.2%[14] - The company's trade payables increased to RMB 32,982,000 as of June 30, 2024, up 21% from RMB 27,177,000 as of December 31, 2023[21] Dividends and Share Repurchase - The board declared an interim dividend of HKD 0.048 per ordinary share for the six months ended June 30, 2024[1] - The company declared an interim dividend of HKD 0.048 per share for the six months ended June 30, 2024, totaling approximately RMB 120,066,000, compared to RMB 64,802,000 for the same period in 2023[16] - A total of 761,000 shares were repurchased at a total cost of HKD 979,750, with the shares cancelled on February 29, 2024[92] Operational Strategy and Market Presence - The company provided services to 54 commercial property projects across 21 cities in China, with a total contracted building area of approximately 2.77 million square meters[25] - The company operates 29 retail commercial properties with a total operational building area of approximately 1.77 million square meters[25] - The company plans to enhance its flagship product line COCO Park, focusing on brand strength and targeting young consumer demographics[58] - The expansion strategy will focus on deepening presence in key markets such as the Greater Bay Area and Yangtze River Delta[61] - The company will implement a "One Store, One Strategy" operational approach to improve marketing and customer engagement[60] Corporate Governance and Compliance - The company has complied with the corporate governance code, except for the absence of an independent non-executive director with appropriate professional qualifications since May 8, 2024[93] - The interim financial information for the six months ended June 30, 2024, has been reviewed by the company's auditors[95]
星盛商业(06668) - 2024 - 中期业绩