Financial Performance - The company reported a total revenue of RMB 34,383,000 for the six months ended June 30, 2024, compared to RMB 40,831,000 for the same period in 2023, representing a decrease of approximately 15.8%[2] - The gross profit for the period was RMB 11,971,000, down from RMB 16,996,000 in the previous year, indicating a decline of about 29.3%[2] - The net loss attributable to the owners of the company was RMB 8,665,000, compared to a loss of RMB 3,791,000 in the prior year, reflecting an increase in losses of approximately 128.5%[3] - The total comprehensive income for the period, after tax, was RMB 535,000, down from RMB 2,646,000 in the previous year[2] - The basic loss per share for the period was RMB 0.96, compared to RMB 0.51 in the same period last year, representing an increase of approximately 88.2%[3] - The group reported a segment operating profit of RMB 914 thousand for the six months ended June 30, 2024, compared to RMB 4,693 thousand for the same period in 2023, indicating a significant decrease of approximately 80%[21] - The company reported a loss attributable to owners of RMB 8,665,000, compared to a loss of RMB 3,791,000 in the previous period[79] Assets and Liabilities - The company's total assets as of June 30, 2024, were RMB 262,052,000, a slight decrease from RMB 271,707,000 as of December 31, 2023[4] - Current liabilities amounted to RMB 128,704,000, compared to RMB 131,569,000 at the end of 2023, showing a decrease of about 2.1%[4] - The company’s non-current assets totaled RMB 53,988,000, down from RMB 58,619,000 at the end of 2023, reflecting a decrease of about 7.8%[4] - The company’s equity attributable to owners was RMB 105,947,000, a decrease from RMB 108,533,000 at the end of 2023, indicating a decline of approximately 2.4%[5] - Total liabilities decreased from RMB 12,074,000 as of December 31, 2023, to RMB 11,866,000 as of June 30, 2024[44] Cash Flow - For the six months ended June 30, 2024, the net cash used in operating activities was RMB (12,145) thousand, compared to RMB 5,547 thousand for the same period in 2023[8] - The net cash generated from investing activities was RMB 704 thousand, a decrease from RMB 4,135 thousand in the previous year[8] - The net cash generated from financing activities was RMB 1,534 thousand, compared to a net cash used of RMB (3,889) thousand in the prior year[8] - As of June 30, 2024, cash and cash equivalents decreased by RMB (9,907) thousand, while the balance at the beginning of the period was RMB 125,019 thousand[8] Revenue Breakdown - Revenue from funeral services and cremation services for the six months ended June 30, 2024, was RMB 33,007,000, a decrease of 8.4% from RMB 35,957,000 in the same period of 2023[15] - Revenue from funeral arrangement and related consulting services was RMB 1,376,000, down 11.5% from RMB 1,554,000 in the previous year[15] - Revenue from funeral services in China was RMB 33,007 thousand for the six months ended June 30, 2024, down from RMB 35,957 thousand in the same period of 2023, representing a decline of approximately 5.4%[22][25] - Revenue from Taiwan for the six months ended June 30, 2024, was RMB 962 thousand, slightly down from RMB 967 thousand in the same period of 2023[25] - Revenue from Hong Kong significantly decreased from RMB 3,586,000 to RMB 414,000, primarily due to the absence of high-end biotechnology equipment sales[76] - Revenue contribution from Vietnam was zero, down from RMB 321,000 in the previous period, reflecting a strategic decision to cease sales activities in that market[77] Operational Highlights - The company is primarily engaged in investment holding and provides funeral and related services in China, Taiwan, and Hong Kong[9] - The group has two reportable segments: funeral services and stem cell & immune cell business, with the former including related services and the latter involving high-end biotechnology instruments[17] - The group’s internal reporting to executive directors is consistent with the way it manages its business by segmenting based on business type and region[16] Strategic Initiatives - The company aims to enhance its research capabilities and product offerings in the biotechnology sector through the acquisition of Guangdong Yimicro, which specializes in biochip development and personalized medical consultation services[69] - The company has established a specialized investment team to accelerate the development of its biotechnology business, focusing on areas such as biomedicine and life sciences instruments[72] - The company is committed to innovation-driven development and supporting emerging industries to navigate geopolitical risks and market complexities[93] - The company has identified strategic investments in biotechnology, biomedicine, and life sciences instruments as key areas for future growth[93] Shareholder Information - The total equity held by Mr. Xu in the company amounts to 364,601,984 shares, representing approximately 38.58% of the total issued shares[94] - The major shareholder, Hong Kong Gaoqi Biotechnology Co., holds 220,475,000 shares, accounting for approximately 23.33% of the total issued share capital[96] - The company issued a total of 60,000,000 new shares to six independent shareholders on June 14, 2024[51] Governance and Compliance - The board has confirmed compliance with the corporate governance code, with a noted absence of an independent non-executive director at the annual general meeting due to other business commitments[110] - The audit committee has been established and consists of three independent non-executive directors, ensuring compliance with GEM listing rules[114] - The audit committee reviewed the unaudited consolidated financial statements for the period and confirmed adherence to applicable accounting standards[114]
中国生命集团(08296) - 2024 - 中期业绩