Revenue and Profitability - For the six months ended June 30, 2024, the group's revenue slightly decreased to approximately RMB 54.8 million from RMB 55.1 million for the same period in 2023, representing a decline of about 0.5%[7]. - The core business of microloans contributed approximately RMB 54.4 million, accounting for about 99.3% of the total revenue[6]. - Interest income from microloans was approximately RMB 53.5 million, slightly down from RMB 53.6 million for the same period in 2023[7]. - The financing lease interest income significantly decreased to approximately RMB 0.05 million from RMB 0.9 million for the same period in 2023, reflecting a decline of about 94.4%[7]. - The company recorded securities trading commission and brokerage income of approximately RMB 0.02 million, down from RMB 0.2 million for the same period in 2023, representing a decline of about 90%[8]. - Other income decreased by approximately RMB 0.2 million or 11.1% to RMB 1.6 million for the six months ending June 30, 2024, due to a reduction in bad debt recovery income[9]. - Profit attributable to shareholders decreased from approximately RMB 20.3 million to RMB 7.7 million, primarily due to an increase in expected credit provisions for loans and receivables[9]. - The net profit for the period was RMB 7,694 thousand, down 62.1% from RMB 20,336 thousand in the previous year[39]. - Basic earnings per share for the period was RMB 4.92, compared to RMB 12.99 in the same period last year, reflecting a decline of 62.1%[39]. Assets and Liabilities - The total amount of receivable loans as of June 30, 2024, was RMB 782.6 million, a slight increase from RMB 780.9 million as of December 31, 2023[7]. - As of June 30, 2024, total assets amounted to RMB 791,079 thousand, a decrease from RMB 784,682 thousand as of December 31, 2023, reflecting a decline of approximately 0.5%[40]. - Non-current assets decreased to RMB 378,734 thousand from RMB 447,869 thousand, representing a decline of about 15.4%[40]. - Current assets increased to RMB 412,345 thousand from RMB 336,813 thousand, showing an increase of approximately 22.4%[40]. - Total liabilities increased slightly to RMB 213,906 thousand from RMB 209,244 thousand, indicating a rise of about 2.5%[40]. - The company's equity as of June 30, 2024, was RMB 573,976 thousand, a slight increase from RMB 573,700 thousand as of December 31, 2023[41]. - The company's borrowings remained stable at RMB 142,282 thousand compared to RMB 142,320 thousand, showing minimal change[40]. - The company’s total liabilities decreased from RMB 240,521,000 in 2023 to RMB 226,114,000 in 2024, indicating a reduction of approximately 6%[43]. Expenses and Financial Costs - Employee benefits expenses decreased from approximately RMB 12.0 million to RMB 11.4 million for the six months ending June 30, 2024[9]. - Other operating expenses amounted to approximately RMB 7.4 million, accounting for about 13.5% of total revenue, compared to 10.7% for the same period last year[9]. - Financial costs increased by approximately RMB 1.2 million to RMB 6.2 million due to an increase in bank borrowings[9]. - The company incurred financial costs of RMB 6,270 thousand, an increase of 26.6% from RMB 4,954 thousand in the previous year[39]. - The company reported a significant decrease in income tax expense, amounting to RMB 1,296 thousand for the six months ended June 30, 2024, down from RMB 3,733 thousand in the previous year[61]. Shareholder and Equity Information - The company did not recommend any interim dividend for the six months ending June 30, 2024[9]. - The company repurchased a total of 126,000 shares at prices between HKD 2.76 and HKD 2.99, with a total cost of approximately HKD 0.4 million, which has been accounted for in retained earnings[13]. - The company’s issued share capital decreased due to the cancellation of repurchased shares, aimed at enhancing net asset value and earnings per share for shareholders[32]. - As of June 30, 2024, the total issued and paid-up ordinary shares were 156,457,000, with a total capital amount of RMB 1,357,000[84]. Risk Management and Strategy - The average price of second-hand properties in the real estate sector showed a downward trend, prompting the company to adopt a more cautious approach in operations and risk management[5]. - The company plans to adjust its microloan business strategy based on changes in relevant policies to maintain its market share in the Shenzhen real estate second mortgage market[5]. - The company will continue to provide flexible financing services to potential clients of various sizes across different industries[5]. - The company aims to strengthen its financing capabilities and expand partnerships to enhance its comprehensive service capabilities, primarily targeting clients in China[26]. - The company will continue to focus on enhancing internal information systems to improve risk management capabilities and control costs effectively in the challenging environment[26]. Corporate Governance - The company has complied with all provisions of the corporate governance code as of June 30, 2024, and has adopted most of the recommended best practices[27]. - The Audit Committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2024, without any objections[29]. - The company has established a Remuneration Committee to provide recommendations on the overall remuneration policy for all directors and senior management, ensuring no director determines their own remuneration[30]. - The Nomination Committee is responsible for reviewing the board's structure and composition, assessing the independence of independent non-executive directors, and making recommendations on director appointments[31]. Segment Performance - The group operates in three segments: financing leasing and factoring services, small loan and loan intermediary services, and securities trading and brokerage services, each requiring different marketing strategies[50]. - The group reported a segment loss of RMB 799,000 from financing leasing and factoring services, a profit of RMB 17,822,000 from small loan and loan intermediary services, and a loss of RMB 680,000 from securities trading and brokerage services, resulting in a total profit before tax of RMB 8,990,000[51]. - As of June 30, 2024, total segment assets amounted to RMB 737,014,000, with financing leasing and factoring services holding RMB 13,199,000, small loan and loan intermediary services at RMB 712,812,000, and securities trading and brokerage services at RMB 11,003,000[53].
浩森金融科技(03848) - 2024 - 中期财报