Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 313,802,000, an increase of 5.0% from RMB 296,608,000 in the same period of 2023[1] - Gross profit decreased to RMB 15,987,000, down 61.5% from RMB 41,470,000 year-over-year[1] - Operating loss for the period was RMB 14,572,000 compared to an operating profit of RMB 8,715,000 in the previous year[1] - Net loss attributable to shareholders was RMB 18,786,000, compared to a profit of RMB 4,157,000 in the same period last year[2] - Total comprehensive loss for the period was RMB 18,576,000, compared to a total comprehensive income of RMB 3,919,000 in the prior year[2] - The company reported a net loss before tax of RMB (2,870,000) for the six months ended June 30, 2024, compared to a net profit of RMB 2,717,000 in the same period of 2023[17] - The total income tax expense for the six months ended June 30, 2024, was RMB 1,134,000, down from RMB 2,082,000 in the same period of 2023, reflecting a decrease in taxable income[10] - The company reported a loss attributable to shareholders of RMB 18,786,000 for the six months ended June 30, 2024, compared to a profit of RMB 4,157,000 for the same period in 2023, indicating a significant decline in performance[21] Cash Flow and Investments - Operating cash flow used was RMB (26,585,000), an increase of 30.5% from RMB (20,388,000) in the previous year[7] - The net cash used in investing activities was RMB (42,820,000), a decrease of 25.6% from RMB (57,464,000) in the prior year[7] - The net cash generated from financing activities was RMB 40,892,000, a decrease of 66.2% from RMB 121,221,000 in the same period last year[7] - The company received government subsidies amounting to RMB 10,000,000, down from RMB 15,000,000 in the previous year[7] Assets and Liabilities - Total liabilities increased to RMB 635,707,000 from RMB 590,907,000, reflecting a rise in bank loans to RMB 288,425,000 from RMB 242,203,000[5] - Equity attributable to shareholders decreased to RMB 632,902,000 from RMB 651,688,000[4] - Cash and cash equivalents decreased to RMB 62,029,000 as of June 30, 2024, from RMB 89,554,000 as of December 31, 2023, indicating a decline in liquidity[25] - The company's total assets as of June 30, 2024, included property, plant, and equipment with a net book value of RMB 446,705,000, down from RMB 433,394,000 at the beginning of the year[22] - As of June 30, 2024, the total bank loans amounted to RMB 532,729,000, an increase from RMB 492,613,000 as of December 31, 2023[30] - The company’s reserves decreased to RMB 579,932,000 as of June 30, 2024, from RMB 598,718,000 at the beginning of the year, reflecting the impact of the current period's loss[28] Operational Highlights - The company reported a significant increase in other income, totaling RMB 5,507,000 compared to RMB 1,469,000 in the same period last year[14] - The sales revenue from the Asia-Pacific region was RMB 41,472,000, up 8.2% from RMB 38,365,000 in the previous year[12] - The Dalian factory's phase II project began trial production in Q2 2024, with production quality deemed excellent and actively pursuing market expansion[36] - The group plans to accelerate transformation and upgrade, focusing on the development of the Dalian factory as a major production base for chemical products[38] - The group aims to enhance production efficiency and develop new products through technological upgrades at the Changzhou factory[37] Research and Development - The group has increased its R&D investment to enhance product competitiveness and accelerate the development of new environmentally friendly products[39] - The group is actively pursuing national-level specialized and innovative enterprise certifications and provincial-level green factory designations[34] Shareholding Structure - The company reported a total of 2,500,000 domestic shares, representing 100% ownership by Mr. Rui and Ms. Leng[51] - Foreign shares amount to 135,000,000, with Mr. Rui and Ms. Leng holding approximately 39.30%[51] - H-shares total 183,700,000, with Mr. Rui owning 12,184,000 shares, accounting for 6.66%[51] - Major shareholders include Hong Kong New Venture Capital Limited with 39.30% (135,000,000 shares), Hong Kong Biochemical High-Tech Investment Limited with 19.65% (67,500,000 shares), and Early Service Limited with 19.21% (66,000,000 shares)[58] - The beneficial ownership structure indicates significant concentration among a few major shareholders, with the top three holding over 78% of the foreign shares[58] Corporate Governance - The company adhered to the corporate governance code as per the listing rules during the six months ending June 30, 2024[65] - The board of directors confirmed no known breaches of the standard code of conduct for securities trading during the reporting period[66] - The financial statements for the year ending December 31, 2023, were presented, indicating ongoing compliance with relevant regulations[67]
常茂生物(00954) - 2024 - 中期财报