Financial Performance - Revenue for the six months ended June 30, 2024, reached RMB 153,535,000, representing a 189.3% increase compared to RMB 53,076,000 for the same period in 2023[4] - Gross profit for the period was RMB 46,851,000, up 173.0% from RMB 17,161,000 in the previous year[4] - Profit before income tax increased to RMB 36,466,000, a significant rise of 274.5% from RMB 9,736,000 in 2023[4] - Profit for the period attributable to shareholders of the Company was RMB 31,557,000, reflecting a 298.0% increase compared to RMB 7,928,000 in the same period last year[4] - Earnings per share attributable to shareholders for the period was 24.65 RMB cents, up 298.2% from 6.19 RMB cents in 2023[4] - In the first half of 2024, the Group's total revenue increased by approximately 189.3% year-on-year to RMB 153.54 million, while net profit rose by approximately 298.0% to approximately RMB 31.56 million[8] - The overall gross profit margin for the first half of 2024 was approximately 30.5%, down from 32.3% in the same period of 2023[10] - Operating profit increased to RMB 32.4 million for the six months ended June 30, 2024, up from RMB 6.9 million in the prior year, indicating a substantial rise in operational efficiency[34] - Profit attributable to shareholders for the period was RMB 31.6 million, compared to RMB 7.9 million for the same period in 2023, marking an increase of 299.5%[34] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 1,171,877,000, a 13.9% increase from RMB 1,029,125,000 at the end of 2023[4] - Net current assets were reported at RMB 502,053,000, an 8.2% increase from RMB 464,166,000 in the previous year[4] - Total liabilities increased to RMB 476,839,000, marking a 34.2% rise from RMB 355,404,000 in 2023[4] - Current ratio as of June 30, 2024, was 2.1, down from 2.3 at the end of 2023[4] - Trade receivables decreased by 17.1% to RMB 261.5 million as of June 30, 2024, down from RMB 315.5 million as of December 31, 2023, primarily due to the collection of a substantial portion of receivables[15] - The Group's inventories increased by approximately 35.3% to RMB 352.2 million as of June 30, 2024, from RMB 260.3 million as of December 31, 2023, mainly due to an increase in work in progress products[15] - Trade and notes payable amounted to RMB 229.5 million as of June 30, 2024, an increase of 18.7% from RMB 193.3 million as of December 31, 2023, primarily due to increased procurement[15] Cash Flow and Investments - Cash generated from operations for the six months ended June 30, 2024, was RMB 69,752 thousand, significantly higher than RMB 21,630 thousand for the same period in 2023, marking an increase of approximately 222.5%[40] - Net cash flows from operating activities reached RMB 60,635 thousand, compared to RMB 21,010 thousand in the prior year, reflecting a growth of around 188.5%[40] - The net cash flows used in investing activities were RMB 52,300 thousand for the six months ended June 30, 2024, compared to RMB 21,932 thousand in the same period of 2023[40] - The Group's cash and bank balances totaled RMB 355.6 million as of 30 June 2024, an increase from RMB 246.4 million as of 31 December 2023, including cash and cash equivalents of RMB 82.3 million[16] Revenue Sources - Revenue from the sales of standalone machines was RMB 49.2 million, an increase of approximately 35.9% from RMB 36.2 million in the same period of 2023, with 312 sets accepted in 2024 compared to 202 sets in 2023[10] - Revenue from other production lines amounted to RMB 7.0 million, representing an increase of 1,085.9% compared to RMB 0.6 million in the same period last year[10] - Revenue from sales of production lines for brass electroplating wire reached RMB 85,221 thousand, up from RMB 5,929 thousand in 2023, indicating a growth of 1,340%[50] - Revenue from the PRC market accounted for RMB 147,259 thousand, a substantial rise from RMB 52,014 thousand in 2023, marking an increase of 183.5%[51] Expenses and Costs - Administrative expenses increased to RMB 20.7 million, up from RMB 15.7 million in the same period of 2023, primarily due to increased impairment losses on properties held for sale[11] - The Group's expenses for raw materials used were RMB 179,725 thousand, compared to RMB 99,644 thousand in 2023, showing an increase of 80.5%[54] - The total cost of sales, selling expenses, and administrative expenses amounted to RMB 129,050 thousand, significantly higher than RMB 52,857 thousand in 2023, representing an increase of 143.5%[54] Shareholder Information - The Company plans to utilize part of the temporary idle proceeds to purchase wealth management products to enhance capital revenue[21] - The net proceeds from the listing will also be used for the construction of a new manufacturing facility and a new research & development center in Wuxi, Jiangsu Province[21] - The total planned use of net proceeds from the Listing amounts to HK$209.50 million, with HK$184.73 million already utilised as of June 30, 2024[22] - A final dividend of RMB0.08 per share was approved, totaling RMB10,240,000, paid on July 19, 2024[108] Corporate Governance - The company has complied with all code provisions under the Corporate Governance Code during the six months ended June 30, 2024[113] - The company adheres to the Corporate Governance Code as set out in the Listing Rules[120] - The company has a defined structure for its Board of Directors as per the Listing Rules[120] - The company emphasizes transparency and adherence to the Model Code for securities transactions by directors[120]
盛力达科技(01289) - 2024 - 中期财报