Financial Performance - The actual revenue for the period was RMB 285.1 million, a decrease of 17.6% from RMB 346.1 million in the same period last year[1]. - The loss attributable to the owners of the parent company was RMB 38.4 million, compared to a profit of RMB 55.1 million in the same period last year[1]. - The group reported a net loss of RMB 27.9 million for the period, compared to a profit of RMB 77.7 million in the same period last year[3]. - The group’s total revenue for the first half of the year was RMB 285.1 million, down from RMB 346.1 million in the same period last year, reflecting a decline of approximately 17.6%[44]. - The group reported a significant impairment loss of RMB (9,119,000) related to financial and contract assets for the six months ending June 30, 2024, compared to RMB (13,866,000) in the same period of 2023[15]. - The group reported a net loss of RMB 27,900,000 for the first half of the year, a decrease of RMB 105,600,000 compared to a net profit of RMB 77,700,000 in the same period last year[62]. Revenue and Contracts - The new contract amount signed by the group in the first half of 2024 was RMB 460.6 million, an increase of 29.0% compared to RMB 357.1 million in the same period last year[1]. - As of June 30, 2024, the group recorded an uncompleted contract amount of RMB 870.2 million, up 28.9% from RMB 675.1 million as of December 31, 2023[1]. - The group successfully signed contracts for the Hungary-Serbia railway project worth RMB 120 million and the Malaysia East Coast Rail Link project worth RMB 204 million, representing 68.2% of new contracts signed in the period[36]. - The group’s new contracts in the railway business totaled RMB 299 million, an increase of 30.1% year-on-year[36]. Segment Performance - The segment performance for the railway business was RMB 10,599,000, while the energy business reported RMB 25,433,000, totaling RMB 36,032,000 for the six months ending June 30, 2024, compared to RMB 101,182,000 in 2023, indicating a significant drop in profitability[15]. - The railway segment reported revenue of RMB 143.8 million, a decrease of RMB 67 million or 31.8% compared to the same period last year, primarily due to significant overseas high-speed rail projects being in the delivery preparation stage[45]. - The energy segment achieved revenue of RMB 141.3 million, an increase of RMB 6 million or 4.4% year-on-year[45]. Gross Profit and Margins - The group achieved a gross profit of RMB 118.7 million, down 13.2% from RMB 136.7 million in the same period last year, with a gross profit margin of 41.6%, an increase of 2.1 percentage points from 39.5% last year[1]. - The gross profit for the first half of the year was RMB 118.7 million, a decrease of RMB 18 million compared to the previous year, while the gross profit margin improved to 41.6% from 39.5%[48]. - The railway segment reported a gross profit of RMB 35,400,000, a decrease of RMB 10,800,000 compared to the same period last year, with a gross margin of 24.6%, an increase of 2.7 percentage points year-on-year[50]. - The energy segment confirmed a gross profit of RMB 83,300,000, down RMB 7,100,000 from the previous year, with a gross margin of 59.0%, a decrease of 7.8 percentage points year-on-year[51]. Assets and Liabilities - Total current assets as of June 30, 2024, amounted to RMB 1,896.3 million, a decrease from RMB 1,959.2 million as of December 31, 2023[5]. - Non-current assets totaled RMB 1,073.5 million as of June 30, 2024, compared to RMB 1,138.7 million as of December 31, 2023[4]. - Total current liabilities amounted to RMB 964,295,000 as of June 30, 2024, compared to RMB 1,028,591,000 in the previous period, reflecting a decrease of approximately 6.3%[6]. - Total equity attributable to the company was RMB 2,005,555,000, a decrease from RMB 2,064,759,000, representing a reduction of approximately 2.9%[7]. Cash Flow and Financial Position - The company reported cash and cash equivalents of RMB 452,011,000 as of June 30, 2024, down from RMB 483,768,000 as of December 31, 2023[30]. - The current ratio improved to 2.0 from 1.9 at the end of the previous year, indicating a stable financial position[67]. - As of June 30, 2024, the group's cash net amount was RMB 227,800,000, a decrease of RMB 20,800,000 from the end of the previous year[67]. Corporate Governance and Compliance - The company emphasizes strong corporate governance practices to enhance accountability and transparency to shareholders[79]. - The board of directors confirms adherence to the standards for securities trading as per the listing rules throughout the reporting period[80]. - The audit committee, established in June 2010, reviews financial reporting procedures and internal control systems[81]. Employee and Shareholder Information - The company has a total of 325 full-time employees as of June 30, 2024[77]. - The company incurred a total of RMB 21,831,000 in wages and salaries for the six months ended June 30, 2024, compared to RMB 18,448,000 in the same period of 2023, reflecting an increase of approximately 18.5%[18]. - The company proposed a final dividend of HKD 0.0227 per ordinary share (RMB 0.0206), amounting to a total of RMB 35,526,000, subject to shareholder approval[27].
中国智能交通(01900) - 2024 - 中期业绩