Financial Performance - For the six months ending June 30, 2024, the total operating revenue was RMB 4,962,446,162, an increase from RMB 4,582,440,232 for the same period in 2023, representing a growth of approximately 8.3%[5] - The total operating costs for the same period were RMB 5,050,161,042, up from RMB 4,591,022,288 in 2023, indicating an increase of about 10%[5] - The net profit attributable to the parent company's shareholders for the six months was a loss of RMB 91,561,995, compared to a loss of RMB 48,579,117 in the previous year, reflecting a deterioration in performance[6] - The company reported a gross profit margin of approximately 17.9% for the first half of 2024, compared to 16.5% in the same period of 2023[5] - The basic earnings per share for the first half of 2024 was (0.22), compared to (0.12) for the same period in 2023, indicating a worsening in earnings per share[6] - The total unallocated profits at the end of June 2024 were RMB 208,200,300, down from RMB 327,471,394 at the end of June 2023[11] - The company’s income tax expense for the first half of 2024 was RMB 3,681,291, significantly lower than RMB 30,793,896 in the same period of 2023[15] - The gross profit decreased by approximately 33.7%, with a gross margin of 7.7%, down from 12.4% in the previous year[34] - The net profit attributable to the parent company decreased by approximately 88.5%, with a loss of RMB 91,562,000 compared to a loss of RMB 48,579,000 in the same period last year[35] Assets and Liabilities - The total current assets as of June 30, 2024, were RMB 4,501,146,632, down from RMB 4,947,950,438 as of December 31, 2023, a decrease of approximately 9%[2] - The total liabilities as of June 30, 2024, were RMB 5,325,820,973, slightly up from RMB 5,299,176,954 at the end of 2023, indicating a marginal increase[4] - The company’s total accounts receivable as of June 30, 2024, was RMB 1,133,946,347, with 81% (RMB 913,894,944) being within one year[9] - The total accounts payable as of June 30, 2024, was RMB 511,103,722, a decrease from RMB 528,664,977 as of December 31, 2023[10] - As of June 30, 2024, total assets amounted to RMB 7,013,376,861, a decrease from RMB 7,132,044,691 as of December 31, 2023[17] - The net current assets were reported at RMB (6,540,657) as of June 30, 2024, compared to RMB 121,933,143 as of December 31, 2023[17] - The group’s total liabilities to total assets ratio was approximately 75.9%, slightly higher than 75.1% in the previous year[37] - The group’s non-current assets amounted to RMB 2,512,230,229, primarily consisting of fixed assets and investment properties[36] Revenue Segmentation - The company’s retail segment generated revenue of RMB 1,362,551,512 in the first half of 2024, down from RMB 1,597,403,595 in the same period of 2023[14] - The wholesale segment's revenue increased to RMB 3,054,007,203 in the first half of 2024, compared to RMB 2,532,098,310 in the same period of 2023, reflecting a growth of approximately 20.6%[14] - Retail business revenue decreased by approximately 14.7% to RMB 1,362,552,000 for the six months ended June 30, 2024, down from RMB 1,597,403,000 in the same period of 2023[26] - The group's main business revenue increased by about 6.7%, with retail revenue declining by approximately 14.7%[33] - The group’s main business income from wholesale operations was RMB 3,054,007,000, with a gross margin of 4.1%, down from 10.0% in the previous year[30] Operational Changes and Strategies - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming quarters[5] - The company aims to enhance its retail business by focusing on targeted product categories and improving customer shopping experiences, while also developing senior-friendly supermarkets to capitalize on the "silver economy" opportunity[41] - The company plans to expand its wholesale business by implementing a full-category product distribution strategy and enhancing digital capabilities in traditional wholesale operations[41] - The company launched over 200 member products during the reporting period, covering more than 140 categories, enhancing customer engagement and sales[23] - The logistics distribution costs and transportation rates significantly decreased, improving operational efficiency[25] - The company focused on enhancing food safety management, implementing regular training and strict self-inspection protocols[24] - The company closed 4 supermarkets and 16 convenience stores due to lease expirations and operational strategy adjustments during the reporting period[20] - The number of retail stores remained at 113 as of June 30, 2024, with no new openings during the reporting period[19] Corporate Governance and Compliance - The company is committed to maintaining corporate governance standards as per the Hong Kong Stock Exchange regulations, despite deviations in the rotation of directors[43] - The company’s audit committee has reviewed the interim financial results for the six months ending June 30, 2024, confirming compliance with applicable accounting standards and legal requirements[45] - The company has confirmed compliance with securities trading standards by all board members during the reporting period[44] - During the reporting period, the company did not hold any treasury shares and did not purchase, redeem, or sell any listed securities[54] Shareholding Structure - As of June 30, 2024, the company’s board members hold a total of 4,000,000 shares, representing approximately 1.73% of the total issued share capital[47] - Beijing Chaofu State-owned Assets holds 167,409,808 shares, representing approximately 72.77% of the issued domestic shares and 40.61% of the total issued share capital[51] - China Galaxy International Asset Management (Hong Kong) Co., Limited holds 24,970,000 H shares, accounting for approximately 13.71% of the total issued H shares and 6.06% of the total issued share capital[51] - China Galaxy International SPC also holds 24,970,000 H shares, representing approximately 13.71% of the total issued H shares and 6.06% of the total issued share capital[52] Legal Matters - The company has paid a total compensation of RMB 45,132,000 to the Chaoyang District government for land acquisition, but is currently in litigation to recover this amount due to the inability to fulfill the contract purpose[40] - The company has filed an appeal regarding the first-instance judgment requiring it to pay land leveling fees of RMB 206,700 and restore the land to a cultivable condition[40] - The company has not reported any significant events post-reporting period that would impact its operational and financial performance[42]
北京京客隆(00814) - 2024 - 中期业绩