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集海资源(02489) - 2024 - 中期业绩

Financial Performance - For the six months ended June 30, 2024, the group's revenue was approximately RMB 236,173,000, an increase of about 20.1% compared to RMB 196,659,000 for the same period last year[1]. - The net profit for the same period was approximately RMB 78,867,000, representing a significant increase of about 49.5% from RMB 52,769,000 in the previous year[1]. - The profit attributable to equity holders of the parent company was approximately RMB 57,284,000, up approximately 53.7% from RMB 37,261,000 for the same period last year[1]. - Basic and diluted earnings per share attributable to ordinary shareholders were approximately RMB 0.03, an increase of 50% from RMB 0.02 (restated) in the previous year[1]. - The gross profit for the six months ended June 30, 2024, was RMB 125,480,000, compared to RMB 92,382,000 in the previous year[3]. - The total comprehensive income for the period was RMB 80,582,000, compared to RMB 53,962,000 for the same period last year[4]. - The company's operating profit before tax adjustments was RMB 146,369,000 for the first half of 2024, compared to RMB 105,551,000 in the same period of 2023, marking a growth of 38.7%[7]. - The group's profit before tax for the six months ended June 30, 2024, was RMB 114,777,000, compared to RMB 79,498,000 for the same period in 2023, representing a 44.4% increase[21]. Dividends and Shareholder Returns - The total interim dividend declared was approximately HKD 59,000,000, with an interim dividend of HKD 0.0295 per ordinary share[2]. - The company declared an interim dividend of HKD 0.0295 per share, totaling approximately HKD 59,000,000, compared to no dividend declared for the same period in 2023[22]. Assets and Liabilities - Non-current assets totaled RMB 585,964,000 as of June 30, 2024, compared to RMB 581,707,000 as of December 31, 2023[5]. - Current assets amounted to RMB 704,404,000, an increase from RMB 636,194,000 as of December 31, 2023[5]. - Total equity increased to RMB 1,056,517,000 as of June 30, 2024, compared to RMB 975,935,000 as of December 31, 2023[6]. - Trade payables as of June 30, 2024, amounted to RMB 10,909,000, compared to RMB 10,273,000 as of December 31, 2023[25]. - As of June 30, 2024, the group had outstanding bank loans of approximately RMB 30,000,000, unchanged from December 31, 2023[43]. Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2024, was RMB 108,058,000, an increase of 12.5% compared to RMB 96,220,000 for the same period in 2023[7]. - Net cash flow from investing activities was RMB (33,566,000) for the first half of 2024, compared to RMB (28,353,000) in the same period of 2023, indicating increased investment outflows[8]. - Cash and cash equivalents at the end of June 2024 were RMB 661,318,000, a significant increase from RMB 350,001,000 at the end of June 2023, reflecting a growth of 89.0%[8]. - The company's total cash and cash equivalents increased by RMB 72,763,000 in the first half of 2024, compared to an increase of RMB 66,607,000 in the same period of 2023[8]. - Cash and cash equivalents increased from approximately RMB 586,840,000 on December 31, 2023, to approximately RMB 661,318,000 on June 30, 2024, primarily due to net cash generated from operating activities[42]. Costs and Expenses - The cost of goods sold for the six months ended June 30, 2024, was RMB 110,693,000, up from RMB 104,277,000 in 2023, reflecting a 6.4% increase[18]. - Administrative expenses for the reporting period were approximately RMB 19,445,000, an increase of approximately 16.8% compared to RMB 16,655,000 in the same period of 2023, primarily due to increased administrative costs post-IPO and increased R&D expenses[36]. - The total income tax expense for the six months ended June 30, 2024, was RMB 35,910,000, an increase from RMB 26,729,000 in 2023, which is a 34.3% rise[20]. - Income tax expenses increased by approximately 34.3% to RMB 35,910,000 from RMB 26,729,000 in the same period of 2023, primarily due to an increase in profit before tax[39]. - Financing costs for the group were approximately RMB 1,397,000, a decrease of about 15.7% from RMB 1,657,000 in the same period of 2023, mainly due to a decline in actual interest rates[38]. Production and Market Insights - The company's total gold production for the six months ended June 30, 2024, was approximately 453.7 kg (or about 14,587.0 ounces), a decrease of approximately 4% compared to the same period in 2023[26]. - The average spot price of gold during the first half of 2024 was USD 2,205.06 per ounce, with the price reaching a peak of USD 2,444.35 per ounce in the second quarter[30]. - The gold market in China accounts for approximately 20% of global sales, with expectations for continued price increases due to geopolitical risks and central bank purchases[53]. - The company anticipates that the Federal Reserve will lower interest rates up to three times in the first half of 2024, which is expected to drive gold prices significantly higher this year[53]. Corporate Governance and Compliance - The board of directors confirmed compliance with corporate governance codes since the listing date, with no known violations by senior management[64]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated interim financial statements[65]. - The company has adhered to the standards for directors' securities trading throughout the reporting period[64]. - The board believes that having independent non-executive directors represent at least one-third of the board enhances decision-making effectiveness[63]. - The company will continue to review its corporate governance policies to ensure compliance with the relevant codes[63]. Future Plans and Developments - The company plans to allocate 55.0% (approximately HKD 120.1 million) of the net proceeds for selective acquisitions of gold mining assets to expand its business[56]. - The company expects to complete the first phase of 10 drill holes by September 30, 2024, and the second phase of 17 drill holes by the end of this year[54]. - The company has signed an exploration contract with an independent third-party contractor to enhance its gold reserves and extend the mine's lifespan[54]. - The company has completed the construction of a working platform at an elevation of +81 meters and is currently working at +57 meters, with completion expected by the end of this year[54].