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正味集团(02147) - 2024 - 中期业绩
ZHENGWEI GROUPZHENGWEI GROUP(HK:02147)2024-08-30 13:08

Financial Performance - The group's revenue for the six months ended June 30, 2024, was approximately RMB 298.1 million, an increase of about 55.5% compared to RMB 191.7 million for the same period in 2023[1]. - The net loss for the six months ended June 30, 2024, was approximately RMB 40.6 million, compared to a net profit of approximately RMB 29.7 million for the same period in 2023[2]. - The gross profit for the six months ended June 30, 2024, was approximately RMB 1.1 million, a decrease of about 98.3% from approximately RMB 64.6 million for the same period in 2023[1]. - Other income for the six months ended June 30, 2024, was RMB 3.7 million, compared to RMB 0.3 million for the same period in 2023[2]. - The basic and diluted loss per share for the six months ended June 30, 2024, was RMB (0.05), compared to earnings per share of RMB 0.04 for the same period in 2023[2]. - The income tax expense for the six months ended June 30, 2024, was RMB 19,653 thousand, compared to RMB 5,900 thousand for the same period in 2023, reflecting an increase of approximately 233%[13]. - The company's cost of sales for the six months of the 2024 fiscal year was approximately RMB 297.0 million, representing an increase of about 133.5% from approximately RMB 127.2 million in the 2023 fiscal year[33]. Revenue Breakdown - The group's revenue for dried mountain delicacies reached RMB 177,396 thousand for the six months ended June 30, 2024, a significant increase from RMB 48,518 thousand in the same period of 2023, representing a growth of approximately 265%[11]. - Revenue from snacks decreased to RMB 46,071 thousand in the first half of 2024, down 49% from RMB 90,735 thousand in the same period of 2023[11]. - The group reported a total revenue of RMB 298,106 thousand for the six months ended June 30, 2024, compared to RMB 191,722 thousand for the same period in 2023, indicating an overall increase of approximately 55%[11]. Expenses and Liabilities - Distribution and selling expenses for the six months ended June 30, 2024, were RMB 6.8 million, a decrease from RMB 14.5 million for the same period in 2023[2]. - Administrative expenses for the six months ended June 30, 2024, were RMB 18.8 million, an increase from RMB 14.8 million for the same period in 2023[2]. - Interest expenses on borrowings decreased significantly to RMB 145 thousand in the first half of 2024 from RMB 1,268 thousand in the same period of 2023, a reduction of about 89%[12]. - The total liabilities as of June 30, 2024, were RMB 58.2 million, a decrease from RMB 85.8 million as of December 31, 2023[3]. Assets and Equity - The total assets as of June 30, 2024, were RMB 474.4 million, compared to RMB 522.8 million as of December 31, 2023[3]. - The net asset value as of June 30, 2024, was RMB 416.2 million, compared to RMB 436.9 million as of December 31, 2023[4]. - Cash and cash equivalents decreased by approximately 5.1%, from approximately RMB 199.2 million as of December 31, 2023, to approximately RMB 189.1 million as of June 30, 2024[42]. - The debt-to-asset ratio decreased to approximately 0.2% as of June 30, 2024, down from approximately 4.0% as of December 31, 2023, mainly due to a reduction in borrowings by approximately RMB 17.7 million[43]. Corporate Strategy and Operations - The company plans to introduce new snack products, including vegetable snacks like mushrooms and meat snacks such as boneless chicken feet and beef jerky, to align with evolving consumer preferences[31]. - The company aims to expand its supermarket sales network and promotional counters in southwestern China, particularly in Sichuan Province[31]. - The company has established a stable customer base, including retailers and individual customers, through over 20 years of experience in the dried food production sector[29]. - The company operates two production facilities in Jiangxi Province, specifically in Nanchang and Guangchang, focusing on processing and packaging dried food products and snacks[30]. - The increase in revenue was primarily driven by higher sales of dried mountain delicacies, seasonings, and other products[32]. - The company intends to enhance marketing efforts through traditional media and social media platforms to increase brand awareness and reach end consumers across China[31]. Employment and Governance - The group had a total of 831 employees as of June 30, 2024, an increase from 716 employees as of June 30, 2023, due to increased sales requiring more production staff[48]. - The company is committed to maintaining high standards of corporate governance, believing it plays a crucial role in protecting shareholder interests and enhancing corporate value[53]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results for the six months ending June 30, 2024, and found that the financial information has been prepared in accordance with applicable accounting standards and regulations[57]. Dividends and Investments - The group has not declared an interim dividend for the six months ended June 30, 2024, consistent with the same period in 2023[15]. - The group has no significant plans for major investments or acquisitions as of June 30, 2024[46]. - All proceeds from the placement have been used for general working capital as of the announcement date[47].