Revenue and Profitability - For the six months ended June 30, 2024, the total revenue of Bonny International Holding Limited was approximately RMB 143.9 million, an increase of about 49.1% compared to approximately RMB 96.5 million in the same period last year[11]. - The ODM product segment generated revenue of approximately RMB 125.3 million, representing a significant increase of about 68.4% from approximately RMB 74.4 million in the previous year[12]. - The company recorded a profit attributable to the owners of the parent of approximately RMB 5.3 million, a substantial improvement from a loss of approximately RMB 14.6 million in the same period of 2023[11]. - The gross profit margin for the reporting period was approximately 29.2%, up from about 26.0% in the same period last year, primarily due to a focus on product gross margins and a decrease in the market price of key raw materials[16]. - The company reported a pre-tax profit of RMB 5,524 thousand, a significant recovery from a loss of RMB 15,552 thousand in the prior year[53]. - Net profit for the period was RMB 5,339 thousand, compared to a loss of RMB 14,556 thousand in the previous year[54]. - Basic and diluted earnings per share for the six months ended June 30, 2024, was RMB 0.4 cents, a turnaround from a loss of RMB 1.2 cents per share in 2023[53]. Sales Performance - The company's overseas sales revenue was approximately RMB 94.8 million, with the top three export destinations being the United States (40.0%), Germany (25.9%), and Canada (15.6%) of total overseas sales revenue[11]. - The company experienced a decline in domestic ODM sales revenue due to poor performance on e-commerce platforms, leading to increased inventory and reduced orders[14]. - Revenue from external customers in mainland China decreased to RMB 49,146 thousand from RMB 65,812 thousand year-over-year[69]. - Revenue from the United States increased significantly to RMB 37,903 thousand from RMB 12,405 thousand year-over-year[69]. - ODM product sales accounted for RMB 125,297 thousand, while brand product sales were RMB 18,646 thousand for the six months ended June 30, 2024[73]. Expenses and Financial Position - Sales and distribution expenses were approximately RMB 20.2 million, consistent with approximately RMB 20.0 million in the same period last year, mainly including personnel costs of about RMB 9.9 million[18]. - Administrative and other expenses were approximately RMB 23.5 million, a slight increase from approximately RMB 23.2 million in the same period last year, with personnel costs rising by about RMB 1.4 million due to increased social security base[19]. - Financial costs increased by approximately RMB 1.3 million or about 59.1% to RMB 3.5 million, mainly due to the completion of the third phase of the Beiyuan production base, with interest on special loans no longer capitalized[20]. - The group recorded interest-bearing liabilities of approximately RMB 156.2 million as of June 30, 2024, up from approximately RMB 133.6 million as of December 31, 2023, with an annual interest rate ranging from about 4.25% to 4.85%[25]. - Current liabilities rose to RMB 254,852 thousand from RMB 187,391 thousand, reflecting increased operational activities[56]. - The group reported a total employee benefit expense of RMB 36,834,000 for the first half of 2024, compared to RMB 28,790,000 in 2023, marking a 28.1% increase[75]. Cash Flow and Investments - Cash flow from operating activities showed a net outflow of RMB 13,426,000 for the first half of 2024, a significant decline from a net inflow of RMB 8,993,000 in the previous year[61]. - The company generated RMB 4,153,000 from the sale of properties, plants, and equipment during the first half of 2024, compared to a net cash outflow of RMB 11,246,000 in the same period of 2023[62]. - The group made capital expenditures of RMB 4,824,000 during the first half of 2024, compared to RMB 2,009,000 in the same period of 2023, indicating a focus on asset acquisition[84]. - The group aims to develop new customers and secure new orders to enhance operational cash flow and meet financial obligations[65]. Corporate Governance and Compliance - The company has complied with all applicable corporate governance codes, except for the provision C.2.1, which allows the same individual to hold the positions of Chairman and CEO[36]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim financial information for the six months ended June 30, 2024[37]. - The group did not declare or pay any dividends during the reporting period[81]. Shareholder Information - As of June 30, 2024, Mr. Jin holds 634,500,000 shares, representing 52.87% of the issued shares[42]. - Maximax Holding Corporation, owned by Mr. Jin, is a major shareholder with 634,500,000 shares, also representing 52.87%[46]. - The total number of issued shares as of June 30, 2024, is 1,200,000,000[42]. - The average number of ordinary shares in issue remained constant at 1,200,000,000 shares for both 2024 and 2023, indicating no changes in share capital[82][83].
博尼控股(01906) - 2024 - 中期财报