Financial Performance - The group's revenue decreased by approximately 29.3% to RMB 102.4 million for the six months ended June 30, 2024, compared to RMB 144.9 million for the same period in 2023[1]. - The total merchandise amount for Changyou Alliance's business was approximately RMB 141.5 million, a decrease of about 8.1% from RMB 153.9 million in the previous year[1]. - The group's gross profit for the six months ended June 30, 2024, was approximately RMB 18.4 million, down from RMB 25.8 million in the same period last year[1]. - The group recorded a loss of approximately RMB 8.1 million for the six months ended June 30, 2024, compared to a loss of RMB 14.5 million for the same period in 2023[1]. - Basic and diluted loss per share for the six months ended June 30, 2024, was RMB 0.41, compared to RMB 0.97 for the same period in 2023[1]. - Total comprehensive loss for the period was RMB 8.88 million, compared to RMB 19.17 million in the previous year[3]. - For the six months ended June 30, 2024, the company reported a net loss of RMB 7,394,000, compared to a net loss of RMB 17,563,000 for the same period in 2023, representing a 58% improvement in losses year-over-year[5]. - Total comprehensive loss for the six months ended June 30, 2024, was RMB 8,193,000, compared to RMB 22,256,000 for the same period in 2023, indicating a 63% reduction in total comprehensive losses[5]. Assets and Liabilities - Non-current assets, specifically property and equipment, decreased to RMB 2.735 million from RMB 3.494 million as of December 31, 2023[4]. - Current assets decreased to RMB 130.112 million from RMB 146.053 million as of December 31, 2023[4]. - The net liabilities of the group were RMB 149.8 million, slightly improved from RMB 153.319 million in the previous period[4]. - As of June 30, 2024, the total equity attributable to equity shareholders was RMB 238,896,000, a decrease from RMB 249,295,000 as of June 30, 2023[6]. - The company’s total liabilities decreased from RMB 388,007,000 as of December 31, 2023, to RMB 388,696,000 as of June 30, 2024, reflecting a slight increase in total liabilities[6]. - The total liabilities as of June 30, 2024, amounted to RMB 149,800,000, raising significant doubts about the group's ability to continue as a going concern[9]. Cash Flow and Financial Position - The company's cash and cash equivalents decreased by RMB 12,479,000 for the six months ended June 30, 2024, compared to a decrease of RMB 9,553,000 for the same period in 2023[7]. - The company incurred operating cash outflows of RMB 11,350,000 for the six months ended June 30, 2024, compared to RMB 45,000 for the same period in 2023, reflecting a significant increase in cash used in operations[7]. - The group reported a net cash used in operating activities of RMB 11,350,000 for the six months ended June 30, 2024[9]. - The group’s cash and cash equivalents were RMB 12,947,000 as of June 30, 2024, down from RMB 25,415,000 as of December 31, 2023, representing a decline of approximately 49.1%[24]. - The group's total assets as of June 30, 2024, were approximately RMB 132.8 million, down from RMB 149.5 million on December 31, 2023, while total liabilities decreased to approximately RMB 282.6 million from RMB 302.9 million[53]. Operational Highlights - Employee costs for the six months ended June 30, 2024, totaled RMB 10,350,000, down from RMB 13,496,000 in 2023, reflecting a reduction of 23.9%[15]. - The cost of inventory for the six months ended June 30, 2024, was RMB 84,040,000, a decrease of 29.4% from RMB 119,092,000 in the previous year[15]. - Sales and distribution expenses decreased to approximately RMB 2.1 million, a reduction of about 34.9% compared to RMB 3.3 million for the same period in 2023[46]. - Administrative expenses increased to approximately RMB 14.6 million, up about 3.6% from RMB 14.1 million in the same period of 2023[47]. - Research and development costs decreased to approximately RMB 4.0 million, a reduction of about 23.3% compared to RMB 5.3 million for the same period in 2023[48]. Financing Activities - The company issued convertible bonds resulting in an increase in equity reserves by RMB 12,401,000 during the reporting period[6]. - The group’s convertible bonds liability as of June 30, 2024, was RMB 104,572,000, reflecting an increase from RMB 90,535,000 at the beginning of the year[28]. - Interest expenses from loans from a shareholder amounted to RMB 1,710,000 for the six months ending June 30, 2024, compared to RMB 1,598,000 for the same period in 2023[38]. - The issuance of the 2020 convertible bonds raised approximately HKD 126.0 million, intended for expanding the digital points business in Hong Kong and overseas markets[54]. - The group plans to utilize the proceeds from the 2020 convertible bonds for developing a new international digital points platform supported by relevant technological infrastructure[58]. Corporate Governance and Compliance - The group has implemented new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements[11]. - The group operates primarily through its subsidiary, which is subject to foreign investment restrictions under Chinese law, necessitating contractual arrangements to maintain control[10]. - The board believes that the group will have sufficient funds to meet its liabilities for at least the next twelve months based on cash flow forecasts[10]. - The company has adhered to the corporate governance code, with a commitment to transparency and accountability to shareholders[71]. - All directors confirmed compliance with the standard code of conduct for securities trading during the six months ended June 30, 2024[73]. Future Plans and Strategies - The company aims to enhance user experience and increase repurchase opportunities by expanding small, high-frequency scenarios suitable for point redemption in 2024[70]. - The group plans to optimize its point SaaS products and deepen cooperation with commercial scenarios to improve user engagement and experience[70]. - The company is exploring the development of a new international platform to expand its cooperation globally and increase user numbers and product offerings[70].
畅由联盟(01039) - 2024 - 中期业绩