Financial Performance - Revenue for the first half of 2024 was RMB 459.0 million, a decrease of 21.2% compared to RMB 582.9 million in the first half of 2023[1] - Gross profit was RMB 98.8 million with a gross margin of 21.5%, down from RMB 106.1 million and 18.2% in the same period last year[1] - Profit for the first half of 2024 was RMB 22.6 million, with a net profit margin of 4.9%, compared to RMB 25.1 million and 4.3% in the first half of 2023[1] - Operating profit for the first half of 2024 was RMB 46.4 million, down from RMB 52.9 million in the previous year[3] - The company reported a net profit of RMB 23,086 thousand for the six months ended June 30, 2024, compared to RMB 25,008 thousand for the same period in 2023, reflecting a decrease of approximately 7.7%[8] - The total comprehensive income for the six months ended June 30, 2024, was RMB 20,534 thousand, down from RMB 21,503 thousand in the same period of 2023[8] - Profit attributable to ordinary equity holders for the six months ended June 30, 2024, was RMB 23,086,000, down from RMB 25,008,000 in 2023, reflecting a decrease of about 7.69%[36] Dividends and Earnings - The company did not recommend the distribution of an interim dividend for the first half of 2024[1] - Basic and diluted earnings per share for the first half of 2024 were RMB 0.028, compared to RMB 0.030 in the same period last year[3] - Basic and diluted earnings per share for the six months ended June 30, 2024, were RMB 0.028, a decrease from RMB 0.030 in 2023, representing a decline of approximately 6.67%[35] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 1,509.2 million, a decrease from RMB 1,543.6 million as of December 31, 2023[5] - Total liabilities decreased to RMB 731.7 million from RMB 789.5 million at the end of 2023[6] - Cash and bank balances were RMB 64.6 million, down from RMB 72.6 million at the end of 2023[5] - The company’s total liabilities include RMB 4,277,000 in lease liabilities as of June 30, 2024[52] - Trade payables as of June 30, 2024, amount to RMB 83,794,000, a decrease from RMB 103,713,000 as of December 31, 2023[51] Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2024, was RMB 45,391 thousand, a significant improvement from a cash outflow of RMB 46,747 thousand in the same period of 2023[9] - The company incurred a net cash outflow from investing activities of RMB 20,590 thousand for the six months ended June 30, 2024, compared to RMB 4,614 thousand in the prior year[9] - Financing activities resulted in a net cash outflow of RMB 33,129 thousand for the six months ended June 30, 2024, compared to a net cash inflow of RMB 58,536 thousand in the same period of 2023[10] Revenue Breakdown - The group reported total sales of RMB 459,015 thousand for the six months ending June 30, 2024, with the following breakdown: RMB 145,213 thousand from gelatin sales, RMB 216,434 thousand from carrageenan sales, RMB 31,673 thousand from konjac products, RMB 60,910 thousand from blended products, and RMB 4,785 thousand from other sales[27] - Revenue from the Chinese market was RMB 245,862,000, down from RMB 294,712,000 in the previous year, reflecting a decline of approximately 16.5%[30] - Sales revenue from carrageenan decreased by RMB 141.3 million or 39.5% in the first half of 2024, primarily due to a decline in seaweed material prices[68] Expenses and Costs - The company incurred administrative expenses of RMB 45,435,000, which is a slight decrease from RMB 49,061,000 in the previous period[29] - Financing costs amounted to RMB 19,738,000, compared to RMB 16,693,000 in the previous period, indicating an increase of approximately 12.4%[29] - The income tax expense for the period was RMB 7,367,000, down from RMB 8,388,000 in the same period last year[32] - The group's net financial costs for the first half of 2024 were RMB 16.7 million, a decrease of RMB 3.0 million or 15.2% from RMB 19.7 million in the same period of 2023, attributed to a reduction in bank deposit amounts and a decline in loan interest rates[73] Financial Position and Ratios - The group's current ratio as of June 30, 2024, was 1.51, compared to 1.43 as of December 31, 2023, while the capital debt ratio increased to 43.3% from 41.2%[77] - The net current assets as of June 30, 2024, were RMB 329.0 million, an increase of RMB 29.4 million or 9.8% from RMB 299.6 million as of December 31, 2023[78] Corporate Governance and Compliance - The audit committee reviewed the unaudited interim results for the first half of 2024, ensuring compliance with relevant financial reporting standards[96] - The company has adopted corporate governance principles to enhance overall effectiveness and shareholder value[95] Future Outlook - The company anticipates a recovery in global demand for hydrophilic colloid products in the foreseeable future due to price adjustments and customer inventory replenishment needs[67] - The company has set long-term goals for continuous investment in product technology to enhance its product offerings and profitability[66]
绿新生物科技(01084) - 2024 - 中期业绩