Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 122,905,000, an increase of 4.9% compared to RMB 117,953,000 for the same period in 2023[11]. - Gross profit for the same period was RMB 24,725,000, a decrease of 1.4% from RMB 25,064,000 in 2023[11]. - The company reported a pre-tax loss of RMB (55,403,000), compared to a loss of RMB (26,525,000) in the previous year, indicating a significant increase in losses[11]. - The net loss for the period was RMB (55,418,000), compared to a loss of RMB (27,007,000) in 2023, highlighting worsening financial performance[11]. - Basic and diluted loss per share for the period was RMB (6.67), compared to RMB (3.40) for the same period in 2023[68]. - The company reported a loss attributable to shareholders of RMB 552 million, an increase of RMB 284 million year-on-year[13]. - The company reported a net amount of approximately HKD 790.4 million from its global offering, with an oversubscription amount of HKD 140.3 million[54]. - The group reported a pre-tax loss of RMB 55,226,000 for the six months ended June 30, 2024, compared to a loss of RMB 26,758,000 for the same period in 2023, indicating an increase in losses[86]. Assets and Liabilities - Total assets as of June 30, 2024, were RMB 945,290,000, slightly down from RMB 947,685,000 at the end of 2023[11]. - Total liabilities increased to RMB 175,035,000 from RMB 158,781,000 at the end of 2023, reflecting a rise in financial obligations[11]. - The total equity decreased to RMB 770,255,000 from RMB 788,904,000, indicating a decline in shareholder value[11]. - Cash and cash equivalents amounted to RMB 303.6 million as of June 30, 2024[21]. - The company's equity return rate decreased from -3.2% for the six months ended June 30, 2023, to -7.2% for the six months ended June 30, 2024, primarily due to losses incurred[42]. - The asset-liability ratio increased from 1.0% as of December 31, 2023, to 2.6% as of June 30, 2024, mainly due to an increase in bank borrowings[42]. - As of June 30, 2024, the company's accounts receivable amounted to RMB 262.6 million, with a recorded impairment loss of RMB 54.4 million[38]. - Accounts receivable decreased to RMB 208,193,000 from RMB 218,549,000, a decline of approximately 4.7%[69]. - The company reported a total equity of RMB 770,255,000 as of June 30, 2024, down from RMB 788,904,000, a decrease of about 2.3%[70]. Revenue Breakdown - In the first half of 2024, the company achieved a revenue of RMB 1.229 billion, representing a slight increase of 4.2% year-on-year[13]. - The software development services contributed 85.3% of total revenue, with a significant year-on-year increase of 25.7% to RMB 1.048 billion[13]. - Revenue from innovative solutions utilizing AI and big data analytics reached RMB 601 million, accounting for 57.3% of the software development services revenue[13]. - Revenue from software development services rose by 25.7% to RMB 104.8 million, accounting for 85.3% of total revenue[16]. - Revenue from technical and maintenance services generated RMB 13,839,000, and standard software sales contributed RMB 4,297,000 for the six months ended June 30, 2024[79]. Research and Development - The company has faced increased R&D expenses due to a rise in deferred development costs and the number of research projects[13]. - Research and development expenses surged by 106.6% to RMB 37.6 million, driven by increased project numbers and deferred development cost amortization[25]. - Research and development expenses for the current period amounted to RMB 37,648,000, up from RMB 18,202,000 in the previous year, reflecting a significant increase in investment in innovation[86]. Corporate Governance - The board believes that maintaining high corporate governance standards is crucial for protecting shareholder interests and enhancing corporate value[48]. - The company has complied with the corporate governance code, with the exception of the separation of roles between the chairman and CEO, which is held by Mr. Zhai[49]. - All directors confirmed compliance with the securities trading standard code during the six months ended June 30, 2024[50]. Future Outlook - Future outlook includes potential market expansion and new product development strategies, although specific figures were not disclosed in the report[11]. - The company plans to enhance its focus on technology innovation and expand its market presence in the second half of 2024[15]. - The company aims to improve its organizational processes and talent management to support future growth[15]. Employee and Management Information - As of June 30, 2024, the group had 615 employees, a decrease of 83 employees year-on-year[43]. - Employee costs, including director remuneration, amounted to approximately RMB 65.8 million for the six months ended June 30, 2024[43]. - The management compensation for the first half of 2024 was RMB 1,656,000, an increase of 25% compared to RMB 1,325,000 in the same period of 2023[106]. Cash Flow and Financing - The net cash used in operating activities for the six months ended June 30, 2024, was RMB 34,291,000, compared to RMB 30,896,000 for the same period in 2023, representing an increase of approximately 7.5%[72]. - The financing activities net cash inflow for the six months ended June 30, 2024, was RMB 47,618,000, compared to a net cash outflow of RMB 21,196,000 in 2023, indicating a positive shift in financing[72]. - The company issued 157,302,880 new ordinary shares at a subscription price of HKD 0.28 per share, raising approximately RMB 39,661 thousand for general working capital[101]. Awards and Recognition - The company received multiple industry awards, including the "2024 Outstanding Medical Technology Innovation Award" and "2024 Digital Innovation Enterprise Award" in 2024[14].
新纽科技(09600) - 2024 - 中期财报