Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 26.9 million, a decrease of 46.6% compared to RMB 50.4 million in the same period of 2023[1] - Gross profit for the same period was RMB 18.7 million, down 49.9% from RMB 37.3 million, resulting in a gross margin of 69.5%, compared to 74.0% in 2023[1] - The adjusted loss attributable to shareholders for the six months ended June 30, 2024, was RMB 40.2 million, a decrease of 4.5% from RMB 42.1 million in 2023[1] - Operating loss for the six months was RMB 44.7 million, compared to RMB 55.3 million in the same period last year[2] - The company reported a net loss of RMB 42.7 million for the period, compared to a net loss of RMB 48.0 million in 2023[2] - The company reported a loss attributable to shareholders of RMB 41,646 thousand for the six months ended June 30, 2024, compared to a loss of RMB 47,479 thousand for the same period in 2023, representing a decrease of approximately 12.9%[22] - The basic loss per share remained at RMB 0.04 for both the six months ended June 30, 2024, and 2023, indicating no change in performance on a per-share basis[22][23] - The loss for the six months ended June 30, 2024, was RMB 42.7 million, an improvement from a loss of RMB 48.0 million for the six months ended June 30, 2023[53] Revenue and Sales - Revenue for the six months ended June 30, 2024, was RMB 26,868 thousand, a decrease of 46.7% compared to RMB 50,374 thousand for the same period in 2023[11] - Product sales accounted for RMB 26,560 thousand, down 46.8% from RMB 49,935 thousand in the previous year[11] - Revenue decreased from RMB 50.4 million for the six months ended June 30, 2023, to RMB 26.9 million for the six months ended June 30, 2024, representing a year-on-year decline of approximately 46.6%[34] Expenses and Costs - Research and development expenses for the period were RMB 18.5 million, down from RMB 22.6 million in the previous year[2] - Employee benefit expenses decreased to RMB 45,550 thousand, down 30.3% from RMB 65,347 thousand in the same period last year[16] - Sales expenses decreased by approximately 22.9% to RMB 29.6 million for the six months ended June 30, 2024, from RMB 38.4 million for the same period in 2023, mainly due to reduced employee benefits and marketing development expenses[48] - General and administrative expenses significantly decreased by approximately 37.4% to RMB 23.4 million for the six months ended June 30, 2024, from RMB 37.3 million for the same period in 2023, primarily due to a reduction in employee benefits[50] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 600.8 million, an increase from RMB 573.3 million as of December 31, 2023[5] - Cash and cash equivalents were RMB 117.9 million, down from RMB 134.1 million at the end of 2023[5] - Trade receivables increased to RMB 7,831 thousand as of June 30, 2024, from RMB 3,691 thousand as of December 31, 2023, reflecting a growth of approximately 112.9%[25] - The net amount of trade and other receivables rose to RMB 17,698 thousand as of June 30, 2024, compared to RMB 10,350 thousand as of December 31, 2023, marking an increase of about 71.3%[25] - Trade payables decreased to RMB 1,552 thousand as of June 30, 2024, from RMB 3,447 thousand as of December 31, 2023, a decline of approximately 54.9%[31] - The company had a debt balance of RMB 25.5 million as of June 30, 2024, with unused bank financing of RMB 480.1 million[56] Corporate Governance - The company has adhered to all provisions of the corporate governance code, except for the deviation regarding the roles of the Chairman and CEO being held by the same individual, Mr. Huo Yunfei[61] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim financial information for the six months ending June 30, 2024[64] - The company is committed to maintaining high standards of corporate governance to enhance shareholder value and accountability[61] - The company will continue to review and monitor its corporate governance practices to ensure compliance with the corporate governance code[61] - The company has established a standard code for securities trading by directors, which all directors confirmed compliance with during the reporting period[61] - The company has a diverse board composition, ensuring a balanced distribution of power and authority[61] Research and Development - The company continues to invest in the research, development, and commercialization of medical devices related to caFFR systems, caIMR systems, and IVD products[7] - The caFFR system has achieved over 95% accuracy and a convenient operation process of less than five minutes, establishing itself as a leading FFR measurement product in the domestic market[32] - The caIMR system received approval from the National Medical Products Administration in April 2023, becoming the world's first minimally invasive IMR measurement product approved for commercialization[32] - The company plans to expand the indications for the caFFR system to include acute STEMI, acute NSTEMI, and HFpEF patients, enhancing its product offerings[32] - The Flash Robot vascular interventional navigation surgical system is currently in the research and refinement stage, with successful animal trials completed in February 2022[42] - The company has obtained 85 II-class registration certificates for biochemical diagnostic reagents, covering major diagnostic categories such as liver function and kidney function[43] Market Strategy and Expansion - The company aims to enhance its competitive advantage in the FFR and IMR fields and expand its IVD product coverage and market presence in the second half of the year[44] - The company is actively pursuing overseas market layouts and strengthening domestic market penetration to achieve healthy growth and high-quality development in 2024[44] - The company plans to continue expanding in both China and global markets, focusing on product development and growth through internal development, mergers, and acquisitions[57] - As of June 30, 2024, the company has established a distribution network of 185 domestic distributors covering over 350 hospitals across 21 provinces, four autonomous regions, and four municipalities in China[34] - The company has sold and installed core products in over 700 hospitals, with more than 1,400 hospitals having used the core products in China[34] Other Financial Information - The company did not declare any interim dividend for the six months ended June 30, 2024[1] - The company has not declared or paid any dividends for the six months ended June 30, 2024, and 2023[29] - Other income increased from RMB 1.5 million for the six months ended June 30, 2023, to RMB 7.3 million for the six months ended June 30, 2024, primarily due to increased government subsidies[51] - Income tax expense changed from a credit of RMB 0.5 million for the six months ended June 30, 2023, to an expense of RMB 0.3 million for the six months ended June 30, 2024, mainly due to profit generated from interest income[52] - The company has capital commitments of RMB 283.7 million related to construction and services for its industrial park as of June 30, 2024[57]
润迈德-B(02297) - 2024 - 中期业绩