Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 164,639,000, a decrease of 13.9% compared to RMB 191,189,000 for the same period in 2023[1] - Gross profit for the same period was RMB 39,302,000, down 12.5% from RMB 45,029,000 year-on-year[1] - Operating loss before tax for the six months was RMB 527,000, an improvement from a loss of RMB 3,129,000 in the prior year[2] - Total comprehensive income for the period was RMB 435,000, compared to a loss of RMB 4,046,000 in the same period last year[3] - The company reported a basic and diluted loss per share of RMB 0.05 for the period, compared to a loss of RMB 0.23 in the previous year[3] - The group reported a net loss of RMB 527 thousand for the period, with income tax expenses amounting to RMB 1,458 thousand[13] - The company reported a net loss of RMB 3,129 thousand for the six months ended June 30, 2024, compared to a net loss of RMB 3,346 thousand for the same period in 2023, indicating a slight improvement[15] - The company achieved a profit attributable to equity holders of RMB 0.8 million for the six months ended June 30, 2024, compared to a loss of RMB 3.1 million for the same period in 2023[68] Assets and Liabilities - Non-current assets increased to RMB 328,126,000 as of June 30, 2024, from RMB 319,175,000 at the end of 2023[4] - Current assets rose to RMB 169,960,000, up from RMB 133,308,000 at the end of 2023[4] - Total equity increased to RMB 432,901,000 as of June 30, 2024, compared to RMB 411,080,000 at the end of 2023[5] - The company’s total liabilities as of June 30, 2024, were RMB 65,185 thousand, compared to RMB 41,403 thousand as of December 31, 2023, indicating an increase in financial obligations[16] - Trade receivables from third parties amounted to RMB 85,372,000 as of June 30, 2024, up from RMB 42,034,000 as of December 31, 2023[38] - Total trade payables as of June 30, 2024, amounted to RMB 29,791,000, significantly up from RMB 9,109,000 as of December 31, 2023, indicating a 227.5% increase[41] Capital Expenditure and Investments - The group incurred a total capital expenditure of RMB 27,830 thousand during the period, with RMB 90 thousand allocated to wigs and RMB 27,467 thousand to clothing and others[13] - The total capital expenditure for the six months ended June 30, 2024, was RMB 515 thousand, compared to RMB 1,706 thousand in the same period of 2023, reflecting a significant reduction in investment[15] - The company’s bank loans secured by investment properties amounted to RMB 34,393,000 as of June 30, 2024, an increase from RMB 32,482,000 as of December 31, 2023[31] Revenue Segmentation - The group reported total revenue of RMB 164,639 thousand for the six months ending June 30, 2024, with contributions from various segments including RMB 10,195 thousand from wigs and RMB 137,994 thousand from clothing and others[13] - Revenue from CMS business decreased by approximately 20.4% from RMB 119.4 million to RMB 95.0 million, contributing 57.7% of total revenue[44] - Revenue from OBM business decreased by approximately 3.0% from RMB 71.8 million to RMB 69.6 million, with a notable increase in sales of self-owned brand products by 8.8%[45] Cost and Expenses - The company’s employee costs for the six months ended June 30, 2024, totaled RMB 33,544 thousand, down from RMB 39,411 thousand in the same period of 2023, reflecting cost-cutting measures[21] - Administrative and other operating expenses decreased from approximately RMB 39.7 million to about RMB 35.0 million, mainly due to a reduction in depreciation of properties, plants, and equipment by approximately RMB 4 million[51] - Sales expenses accounted for approximately 2.8% and 2.2% of revenue for the six months ended June 30, 2024, and 2023, respectively, primarily due to increased advertising expenses for clothing, personal care, and home cleaning products[50] Impairment and Provisions - The group recognized a loss of RMB 6,034 thousand related to impairment of property, plant, and equipment[13] - The impairment loss recognized for properties, plant, and equipment was RMB 6,034,000 for the six months ended June 30, 2024, compared to no impairment loss in the same period of 2023[36] - The expected credit loss provision for trade receivables was RMB 6,235,000 as of June 30, 2024, an increase from RMB 4,867,000 as of December 31, 2023[39] Corporate Governance and Compliance - The company has fully complied with the corporate governance code as of June 30, 2024[71] - The audit committee reviewed the group's performance and the interim report for the six months ended June 30, 2024[73] Future Outlook - The company expects a decline in sales performance across all reporting segments due to economic downturn[33] - The company plans to enhance operational efficiency and seek opportunities for growth through acquisitions of intellectual property and collaborations with upstream and downstream companies[69]
中国派对文化(01532) - 2024 - 中期业绩