Financial Performance - For the six months ended June 30, 2024, the group reported revenue of RMB 34,383,000, a decrease of 15.7% compared to RMB 40,831,000 for the same period in 2023[2] - The gross profit for the period was RMB 11,971,000, down 29.4% from RMB 16,996,000 in the previous year[2] - The operating loss increased to RMB 6,745,000, compared to an operating loss of RMB 2,241,000 in the prior period, reflecting a significant deterioration in performance[2] - The net loss for the period was RMB 8,909,000, which is a 95.2% increase from the net loss of RMB 4,561,000 in the same period last year[3] - Basic loss per share was RMB 0.96, compared to RMB 0.51 in the previous year, indicating a worsening financial position[3] - The total comprehensive loss for the period was RMB 8,374,000, significantly higher than RMB 1,915,000 in the prior year, highlighting increased financial challenges[3] - The group reported a pre-tax comprehensive loss of RMB 7,673 thousand for the six months ended June 30, 2024, compared to a loss of RMB 3,184 thousand in the same period of 2023[22] - The company reported a loss attributable to owners of approximately RMB 8,665,000, compared to RMB 3,791,000 in the previous period, with a loss per share of approximately RMB 0.96[81] Revenue Breakdown - The group's revenue from funeral services and cremation services for the six months ended June 30, 2024, was RMB 33,007,000, a decrease of 8.2% compared to RMB 35,957,000 for the same period in 2023[17] - Revenue from funeral arrangements and related consulting services was RMB 1,376,000, down 11.5% from RMB 1,554,000 in the previous year[17] - The company's total revenue for the six months ended June 30, 2024, was RMB 222,510 thousand, compared to RMB 290 thousand for the same period in 2023[8] - Revenue from the Chinese market was approximately RMB 33,007,000, down about 8.2% from RMB 35,957,000 in the previous period[76] - Revenue from Taiwan was approximately RMB 962,000, relatively stable compared to RMB 967,000 in the previous period[77] - Revenue from Hong Kong significantly decreased from approximately RMB 3,586,000 in the previous period to about RMB 414,000 in the current period[77] - The company ceased sales activities in Vietnam due to a significant decline in demand for burial plots, resulting in zero revenue contribution from this market[78] Assets and Liabilities - Total assets decreased to RMB 208,064,000 from RMB 213,088,000, reflecting a decline in the company's asset base[5] - Cash and bank balances were reported at RMB 118,770,000, down from RMB 125,019,000, indicating a reduction in liquidity[5] - The company's equity attributable to owners decreased to RMB 87,489,000 from RMB 81,947,000, showing a slight improvement in equity position despite losses[5] - The fair value of financial assets measured at fair value through profit or loss was RMB 45,336,000 as of June 30, 2024, down from RMB 48,495,000 as of December 31, 2023[45] - The total amount of prepayments, deposits, and other receivables increased to RMB 39,018,000 as of June 30, 2024, compared to RMB 34,166,000 as of December 31, 2023[48] - Trade payables as of June 30, 2024, were RMB 1,470,000, a decrease from RMB 1,941,000 as of December 31, 2023[51] Cash Flow - The company reported a net cash outflow from operating activities of RMB (12,145) thousand for the six months ended June 30, 2024, compared to a net inflow of RMB 5,547 thousand for the same period in 2023[9] - The net cash inflow from investing activities was RMB 704 thousand for the six months ended June 30, 2024, down from RMB 4,135 thousand in the previous year[9] - The net cash inflow from financing activities was RMB 1,534 thousand for the six months ended June 30, 2024, compared to a net outflow of RMB (3,889) thousand in 2023[9] - The cash and cash equivalents decreased by RMB (9,907) thousand for the six months ended June 30, 2024, while it increased by RMB 5,793 thousand in the same period of 2023[9] Employee and Management Costs - Employee costs, including director remuneration, decreased to RMB 14,658 thousand from RMB 17,320 thousand year-on-year[35] - The short-term employee benefits for key management personnel for the six months ended June 30, 2024, totaled RMB 3,677,000, an increase from RMB 2,308,000 in the previous year[63] - The total amount payable to directors as of June 30, 2024, was RMB 5,333,000, compared to RMB 4,681,000 as of December 31, 2023, reflecting an increase of approximately 13.9%[67] Strategic Focus and Future Plans - The company aims to enhance its research capabilities and product offerings through the acquisition of Guangdong Yimicro, which specializes in biochip development and personalized medical consultation services[70] - The biotechnology sector is identified as a long-term strategic focus, with significant progress made in life sciences instrument sales since 2019[94] - The group plans to leverage opportunities in the biotechnology field, particularly in biomedicine and healthcare, as part of its investment strategy[94] - The company plans to propose a share consolidation, merging every ten shares of HKD 0.1 into one share of HKD 1.0, which will reduce the total number of shares from 10 billion to 1 billion[71] Governance and Compliance - The company's governance practices are based on the GEM Listing Rules, emphasizing high-quality board composition and transparency to shareholders[112] - An audit committee has been established, consisting of three independent non-executive directors, to oversee financial reporting and internal control systems[116] - The audit committee reviewed the unaudited condensed consolidated financial statements for the period and confirmed compliance with applicable accounting standards[116]
中国生命集团(08296) - 2024 - 中期财报