Financial Performance - For the six months ended June 30, 2024, the group's revenue was approximately RMB 65,733,000, a decrease of about 24.5% compared to RMB 87,058,000 in the same period of 2023[1]. - The group's profit for the period was approximately RMB 405,000, a decrease of about 97.3% compared to RMB 14,932,000 in the same period of 2023[1]. - Gross profit for the six months ended June 30, 2024, was RMB 21,320,000, down from RMB 35,614,000 in the same period of 2023, representing a decline of approximately 40%[2]. - The company reported a profit attributable to owners of the company of RMB 405,000 for the six months ended June 30, 2024, a significant decrease of 97.3% compared to RMB 14,932,000 for the same period in 2023[21]. - Net profit decreased by approximately 97.3% from about RMB 14.9 million to about RMB 0.4 million, with the net profit margin dropping from 17.2% to 0.6%[49]. Revenue Breakdown - Sales of chips amounted to RMB 60,443 thousand, down 9.1% from RMB 66,473 thousand in the previous year[11]. - Revenue from integrated circuits and other printer consumables was RMB 5,290 thousand, a significant decline of 69.1% from RMB 17,142 thousand[11]. - External revenue from China was RMB 52,331 thousand, a decrease of 34.9% from RMB 80,422 thousand in the prior year[12]. - Revenue from the sale of compatible printer consumable chips decreased by approximately 12.8% from about RMB 66.5 million to approximately RMB 57.9 million[34]. - Revenue from the sale of integrated circuits and other printer consumables decreased by approximately 64.9% from about RMB 15.1 million to about RMB 5.3 million due to tightened credit control measures[36]. Expenses and Costs - Research and development expenses for the period were RMB 9,034,000, slightly increased from RMB 9,011,000 in the same period of 2023[2]. - Employee costs, including director remuneration, increased to RMB 12,193 thousand from RMB 11,721 thousand[15]. - Selling and distribution expenses increased by approximately 42.2% from about RMB 3.0 million to about RMB 4.2 million due to increased marketing activities[46]. - Pre-tax profit was impacted by inventory costs of RMB 39,236 thousand, a decrease from RMB 43,485 thousand in the previous year[16]. Assets and Liabilities - The total non-current assets as of June 30, 2024, amounted to RMB 31,510,000, an increase from RMB 25,731,000 as of December 31, 2023[3]. - Cash and cash equivalents as of June 30, 2024, were RMB 230,853,000, up from RMB 183,826,000 as of December 31, 2023[3]. - The total current liabilities as of June 30, 2024, were RMB 33,657,000, an increase from RMB 18,874,000 as of December 31, 2023[3]. - Trade receivables as of June 30, 2024, amounted to RMB 55,573,000, a decrease of 5.0% from RMB 58,433,000 as of December 31, 2023[23]. - Trade payables increased to RMB 13,369,000 as of June 30, 2024, compared to RMB 6,187,000 as of December 31, 2023, reflecting a growth of 116.3%[25]. Dividends and Shareholder Information - The company did not recommend any interim dividend for the six months ended June 30, 2024[1]. - The company declared a final dividend of RMB 9,286,000 for the six months ended June 30, 2024, down 48.3% from RMB 17,949,000 for the same period in 2023[19]. - As of June 30, 2024, major shareholders include GMTL with a 29.27% stake (151,812,500 shares) and Loyal with an 18.80% stake (97,500,000 shares)[69]. Future Outlook and Strategic Initiatives - The group expects better performance in the second half of 2024 compared to the first half, driven by the launch of new compatible printer chips with higher gross margins and cost reductions from self-designed integrated circuits[57]. - The company is actively seeking suitable acquisition opportunities to enhance hardware design capabilities and expand its presence in the compatible printer consumables industry[83]. - The company has entered the online sales business to increase sales channels and product categories, focusing on compatible printer consumables and toner[31]. Corporate Governance and Compliance - The company has adopted the corporate governance principles outlined in Appendix C1 of the listing rules to enhance internal control systems and ensure high levels of corporate governance[85]. - All directors have confirmed full compliance with the standard code for securities trading as per Appendix C3 of the listing rules during the relevant period[86]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited financial statements and confirmed compliance with applicable accounting standards and listing rules[87].
美佳音控股(06939) - 2024 - 中期业绩