Financial Performance - The company's revenue for the six months ended June 30, 2024, was approximately RMB 42.1 million, an increase from RMB 37.0 million in the same period of 2023, representing a growth of 8.5%[27] - The net loss attributable to equity holders of the parent company for the same period was approximately RMB 38.5 million, compared to a net loss of RMB 21.1 million in 2023, indicating a significant increase in losses[27] - The net loss margin for the period was -92.7%, compared to -56.7% in the previous year, highlighting a worsening financial performance[27] - The company reported a total comprehensive loss of RMB (38,545,000) for the period, compared to RMB (21,087,000) in the previous year, reflecting increased losses[77] - Basic and diluted loss per share for the period was RMB 5.06, compared to RMB 2.77 for the same period in 2023, indicating a significant increase in loss per share of 82.5%[95] Revenue Breakdown - Revenue from the overall APM system solutions increased by approximately 21.8% from RMB 13.3 million to RMB 16.2 million for the six months ended June 30, 2024[33] - Revenue from software development services rose by approximately 32.9% from RMB 14.9 million to RMB 19.9 million, driven by increased demand for 5G private network project software development[34] - Revenue from technical services decreased by approximately 18.1% from RMB 7.1 million to RMB 5.8 million due to resource allocation towards promoting new products and technologies in the overall APM system solutions[35] - Revenue from embedded hardware and standard APM software sales plummeted by approximately 86.7% from RMB 1.7 million to RMB 0.2 million, as customers shifted to comprehensive system integration solutions[36] - Major customer revenue was approximately RMB 30,547,000, accounting for over 10% of total revenue, compared to RMB 27,120,000 in the previous year[87] Expenses and Costs - Sales and distribution expenses surged by approximately 111.0% from RMB 6.0 million to RMB 12.7 million, attributed to increased marketing efforts in post-COVID-19 China[39] - Research and development expenses rose by approximately 7.4% from RMB 19.2 million to RMB 20.6 million, mainly due to an increase in personnel costs related to 5G business and AI research teams[40] - Administrative expenses increased by approximately 41.5% from RMB 19.5 million to RMB 27.6 million, driven by the need to expand the customer base and diversify revenue sources in the CBDC network system market[41] Assets and Liabilities - Total assets decreased to RMB 248.01 million from RMB 289.86 million, showing a decline in the company's asset base[27] - Cash and cash equivalents as of June 30, 2024, were RMB 84.96 million, down from RMB 122.62 million at the end of 2023, indicating a liquidity contraction[27] - The total equity of the company as of June 30, 2024, was approximately RMB 202.4 million, down from RMB 242.1 million as of December 31, 2023[46] - The company's current ratio decreased from 5.4 as of December 31, 2023, to 5.0 as of June 30, 2024, while the debt-to-equity ratio increased from 4.1% to 4.9% during the same period[43] - Total liabilities decreased to RMB 41,775,000 from RMB 47,285,000, a reduction of 11.7%[74] Cash Flow and Financing - Operating cash flow before tax loss was RMB (39,009,000), compared to RMB (21,149,000) in the previous year, indicating a worsening cash flow situation[78] - The company's financing cash flow net amount was RMB (3,223,000), compared to RMB (942,000) in the previous year, indicating increased cash outflow from financing activities[79] - The company’s interest-bearing bank loans remained unchanged at RMB 10.0 million as of June 30, 2024, with a fixed annual interest rate of approximately 2.25%[46] Strategic Initiatives - The company is actively developing Central Bank Digital Currency (CBDC) solutions, including modules for issuance, wallet, identity verification, and transaction processing[30] - The company aims to expand its CBDC products and services globally, targeting multiple countries to enhance digital financial services for local users[30] - The company plans to allocate funds towards upgrading digital technologies, including CBDC and AI, to enhance all existing business segments[50] - The company has plans to enter new business markets related to CBDC network systems using advanced digital technologies[1] Corporate Governance and Compliance - The audit committee reviewed the unaudited consolidated results for the six months ended June 30, 2024, and found them compliant with applicable accounting standards[70] - The company has maintained compliance with corporate governance principles as per the listing rules[68] - The interim condensed financial statements were approved and authorized for publication by the board of directors on August 23, 2024[109] Employee and Shareholder Information - As of June 30, 2024, the group had total employee costs of approximately RMB 40.8 million, an increase from RMB 38.8 million for the same period in 2023[57] - The group has 320 employees as of June 30, 2024[57] - Major shareholders include International Business Digital Technology Group Limited, holding 569,715,000 shares, which represents 74.77% of the total shares[64]
国际商业数字技术(01782) - 2024 - 中期财报