Financial Performance - The group's revenue for the six months ended June 30, 2024, was approximately RMB 640.75 million, a decrease of about 9.51% compared to RMB 708.08 million for the same period in 2023[1] - The group's gross profit for the reporting period was approximately RMB 165.16 million, an increase of about 0.65% from RMB 164.10 million for the six months ended June 30, 2023[1] - The group's net profit for the period was approximately RMB 51.79 million, a decrease of about 25.48% compared to RMB 69.50 million for the same period in 2023[1] - Basic and diluted earnings per share attributable to equity shareholders were approximately RMB 0.04, down from RMB 0.06 for the six months ended June 30, 2023[1] - For the six months ended June 30, 2024, the total external revenue was RMB 640,754,255, a decrease from RMB 708,078,203 for the same period in 2023, representing a decline of approximately 9.5%[12] - The gross profit for the total segments was RMB 165,162,160, with a notable impairment loss on property, plant, and equipment amounting to RMB 37,891,436[12] - The company reported a significant customer contributing over 10% of total revenue, generating RMB 523,944,975 for the six months ended June 30, 2024, compared to RMB 513,088,429 in the same period of 2023[15] - The company reported a net loss from foreign exchange of RMB (1,157,908) for the six months ended June 30, 2024, compared to a gain of RMB 3,171,946 for the same period in 2023[20] - Financial costs for the six months ended June 30, 2024, amounted to RMB (9,360,979), a decrease from RMB (12,639,553) in the prior year[20] - The company's income tax expense for the six months ended June 30, 2024, was RMB 12,365,862, down from RMB 16,405,588 in the same period of 2023[22] Assets and Liabilities - As of June 30, 2024, the group's debt-to-asset ratio was 33.5%, compared to 35.5% as of December 31, 2023[1] - The group reported a decrease in trade receivables to approximately RMB 534.41 million from RMB 543.92 million as of December 31, 2023[4] - The group's total assets less current liabilities increased to approximately RMB 1,859.63 million from RMB 1,804.72 million as of December 31, 2023[5] - The group's cash and cash equivalents decreased to approximately RMB 177.78 million from RMB 202.62 million as of December 31, 2023[4] - The company's total liabilities decreased from RMB 4,788,025 as of December 31, 2023, to RMB 4,281,483 as of June 30, 2024, indicating a reduction of approximately 10.6%[33] - Current assets decreased by approximately 7.43% to about RMB 789.52 million, while current liabilities decreased by approximately 16.21% to about RMB 559.91 million[58] Revenue Segmentation - The segment revenue for industrial gas supply was RMB 556,443,823, while the liquefied natural gas and gas transportation services segment generated RMB 83,712,633, and the technical support and management services segment contributed RMB 7,030,115[12] - The revenue from liquefied industrial gas supply was RMB 82,397,763, showing an increase from RMB 79,972,753 in the previous year[16] - The revenue from liquefied natural gas and gas transportation services decreased significantly from RMB 143,190,867 in 2023 to RMB 83,712,633 in 2024, reflecting a decline of approximately 41.5%[16] - The revenue from the supply of pipeline industrial gases was approximately RMB 462.32 million, down 2.57% from RMB 474.53 million in the previous year, primarily due to the complete shutdown of Tangshan Steel's original steelmaking subsidiary[50] Expenses and Investments - The company's research and development expenses were approximately RMB 29.77 million, down from RMB 36.64 million in the same period last year[2] - The total cost of acquiring property, plant, and equipment for the six months ended June 30, 2024, was RMB 69,835,731, an increase from RMB 60,677,571 in the prior year[30] - The company recognized an impairment provision of RMB 37,891,436 for certain assets for the six months ended June 30, 2024, compared to no impairment in the same period of 2023[30] - The company incurred a total expenditure of RMB 530,344,162 for the six months ended June 30, 2024, down from RMB 606,763,764 in the prior year[21] Corporate Governance and Future Outlook - The company has adopted good corporate governance principles and has complied with all applicable code provisions during the reporting period[71] - The audit committee has reviewed the unaudited interim consolidated financial information for the reporting period, confirming no changes in the expected audit opinion for the financial statements ending December 31, 2024[72] - The group anticipates continued growth in industrial gas consumption in China, particularly in the electronics, pharmaceuticals, and lithium battery sectors over the next five years[45] - The group plans to leverage its successful experience with outsourced gas supply to seek external development opportunities in response to market trends[46] - The group expects stable growth in business development supported by strong customer capacity expansion, particularly with ongoing projects at Tangshan Steel[47] Employee and Training Investments - The company has a total of 333 employees as of June 30, 2024, compared to 323 employees as of December 31, 2023, with total employee costs amounting to approximately RMB 286.2 million, up from RMB 259.9 million in the same period last year[69] - The company plans to continue investing in employee training and development to enhance corporate culture and retain high-skilled personnel[68]
CGII HLDGS(01940) - 2024 - 中期业绩