Corporate Information The company's corporate information includes its board of directors, committees, key personnel, advisers, and company details The Board The company's board of directors comprises executive, non-executive, and independent non-executive directors; Mr. Li Jianbo and Mr. Zhong Jiesheng resigned as non-executive directors in May 2024 during the reporting period - Executive Directors include Mr. Sun Guangjun (Chairman and CEO) and Mr. Yang Hong2 - Non-executive Directors Mr. Li Jianbo and Mr. Zhong Jiesheng resigned in May 20242 - Independent Non-executive Directors are Ms. Li Yingkai, Mr. Liu Wende, and Mr. Yan Yonghao2 Committees The company has an Audit Committee, Nomination Committee, and Remuneration Committee to ensure effective corporate governance, with each committee chaired by a designated director - The Audit Committee is chaired by Mr. Liu Wende2 - The Nomination Committee is chaired by Mr. Sun Guangjun2 - The Remuneration Committee is chaired by Ms. Li Yingkai2 Key Personnel and Advisers Key personnel include joint company secretaries and authorized representatives, with Ascent Partners CPA Limited as auditor, Zhou Junxuan Law Firm as legal adviser, and Guotai Junan Capital Limited as compliance adviser - Joint Company Secretaries are Mr. Zhou Jieting (CPA) and Ms. Guo Yan2 - The Auditor is Ascent Partners CPA Limited2 - The Legal Adviser is Zhou Junxuan Law Firm, and the Compliance Adviser is Guotai Junan Capital Limited3 Company Details The company is incorporated in the Cayman Islands, with its headquarters in Shanghai and Hong Kong, and its stock code is 2486 - The company's registered office is in the Cayman Islands3 - The headquarters and principal place of business in China are located at No. 652 Changshou Road, Putuo District, Shanghai3 - The stock code is 24864 Definitions This section defines key terms used throughout the report, covering corporate governance, financial reporting, business operations, and legal entities Key Terms This section provides definitions for key terms used in the report, including "AFRC", "Board", "Company", "FMCG", "Group", "HKFRS", "O2O", "PRC", "RSU Scheme", "SaaS", and "Share Award Scheme" - "AFRC" refers to the Accounting and Financial Reporting Council of Hong Kong5 - "The Company" refers to Plus Group Holdings Limited, incorporated in the Cayman Islands on September 30, 2021, with shares listed on the Main Board of the Stock Exchange (Stock Code: 2486)5 - "O2O" refers to Online-to-Offline, and "SaaS" refers to Software as a Service7 Financial Summary and Operating Highlights This section provides an overview of the company's financial performance and key operating metrics for the reporting period Financial Overview For the six months ended June 30, 2024, revenue decreased by 18.8% to RMB 342.6 million, gross profit decreased by 37.4% to RMB 48.9 million, and the period shifted from profit to a loss of RMB 3.8 million, while liquidity remained strong For the six months ended June 30, 2024 Financial Summary | Indicator | 2024 (RMB thousands) | 2023 (RMB thousands) | Period-on-period Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 342,597 | 422,074 | (18.8%) | | Gross Profit | 48,856 | 77,985 | (37.4%) | | (Loss)/Profit for the Period | (3,767) | 24,522 | (115.4%) | | (Loss)/Profit and Total Comprehensive (Expense)/Income for the Period Attributable to Owners of the Company | (3,493) | 24,522 | (114.2%) | As of June 30, 2024 Balance Sheet Summary | Indicator | As of June 30, 2024 (RMB thousands) | As of December 31, 2023 (RMB thousands) | | :--- | :--- | :--- | | Total Equity | 505,692 | 508,182 | | Cash and Cash Equivalents | 183,542 | 190,976 | | Bank Borrowings | 35,000 | 55,000 | | Amount Due to a Non-Controlling Shareholder | 34,860 | — | | Lease Liabilities | 2,930 | 236 | Selected Financial Ratios | Indicator | As of June 30, 2024 | As of December 31, 2023 | | :--- | :--- | :--- | | Revenue Growth | (18.8%) | 17.4% | | Current Ratio (times) | 3.5 | 3.6 | | Debt-to-Equity Ratio | Not Applicable (Net Cash) | Not Applicable (Net Cash) | Operating Metrics Paying brand and distributor customers grew significantly by 51.5% and 82.0% respectively, with cumulative touchpoints up 13.8% and average monthly active touchpoints up 3.3%, indicating strong customer engagement despite a slight decrease in points of sale For the six months ended June 30, 2024 Operating Metrics | Indicator | 2024 | 2023 | Period-on-period Change (%) | | :--- | :--- | :--- | :--- | | Number of Paying Brand Customers | 50 | 33 | 51.5% | | Number of Paying Distributor Customers | 182 | 100 | 82.0% | | Total Cumulative Points of Sale | 4,430,000 | 4,478,000 | (1.1%) | | Total Cumulative Touchpoints | 553,000 | 486,000 | 13.8% | | Average Monthly Active Touchpoints | 31,000 | 30,000 | 3.3% | Management Discussion and Analysis Management discusses the company's business performance, segment results, future outlook, financial review, liquidity, and employee information Business Review In H1 2024, the Group's revenue decreased by 18.8% and gross profit by 37.4% year-on-year due to a slowing market, but it actively responded by deepening offline digital marketing, expanding O2O instant retail marketing, and strengthening AI digital sales capabilities, leading to half-on-half revenue growth of 12.7% and gross profit growth of 189.3% - The growth rate of China's total retail sales of consumer goods slowed, impacting the Group's offline retail business16 - The Group is addressing challenges by deepening offline digital marketing, exploring O2O instant retail marketing services, and strengthening AI digital sales capabilities16 H1 2024 Revenue and Gross Profit Changes | Indicator | H1 2024 (RMB millions) | Year-on-year Change vs H1 2023 | Half-on-half Change vs H2 2023 | | :--- | :--- | :--- | :--- | | Total Revenue | 342.6 | Down 18.8% | Up 12.7% | | Gross Profit | 48.9 | Down 37.4% | Up 189.3% | Business Segments Performance Customized marketing solutions and task and marketer matching services saw year-on-year declines but half-on-half growth, while marketer secondment services continued to decline, and SaaS+ subscription and other services grew significantly half-on-half due to O2O instant retail marketing services Revenue by Four Business Segments (For the six months ended June 30, 2024) | Business Segment | 2024 (RMB thousands) | % of Total Revenue | 2023 (RMB thousands) | % of Total Revenue | Period-on-period Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Customized Marketing Solutions | 264,776 | 77.3% | 326,288 | 77.3% | (18.9%) | | Task and Marketer Matching Services | 56,296 | 16.4% | 66,213 | 15.7% | (15.0%) | | Marketer Secondment Services | 11,960 | 3.5% | 19,891 | 4.7% | (39.9%) | | SaaS+ Subscription and Other Services | 9,565 | 2.8% | 9,682 | 2.3% | (1.2%) | | Total | 342,597 | 100.0% | 422,074 | **1
普乐师集团控股(02486) - 2024 - 中期财报