Revenue Growth - For the six months ended June 30, 2024, the total revenue of JiaChen Holding Group Limited increased by approximately 24.5% to about RMB 108.7 million, compared to RMB 87.3 million for the same period in 2023[3]. - The sales revenue from the new aluminum alloy raised floor product was approximately RMB 2.4 million during the reporting period[8]. - The sales of full steel raised floors contributed approximately 78.1% to total revenue, with sales increasing by 15.8% to about RMB 84.9 million from RMB 73.3 million in the previous year[7]. - The sales of calcium sulfate raised floors saw a significant increase of 53.2%, rising from approximately RMB 14.0 million to about RMB 21.4 million[7]. - The total sales volume of raised floors for the period was 761.3 thousand square meters, compared to 641.2 thousand square meters in the same period last year[9]. - Revenue for the six months ending June 30, 2024, was RMB 108,715,000, compared to RMB 87,310,000 for the same period in 2023, representing a 24.6% increase[28]. - The total revenue from the three reportable segments for the six months ended June 30, 2024, was RMB 108,715 thousand, up from RMB 87,310 thousand in 2023, indicating a growth of 24.6%[36]. Profitability - Gross profit for the six months ended June 30, 2024, was approximately RMB 29.5 million, with a gross margin of 27.2%, up 8.6 percentage points from 18.6% in the same period of 2023[14]. - Gross profit increased to RMB 29,547,000 for the six months ending June 30, 2024, from RMB 16,204,000 in 2023, reflecting an increase of 82.7%[28]. - Operating profit rose to RMB 13,689,000 for the six months ending June 30, 2024, compared to RMB 5,709,000 in 2023, marking an increase of 139.5%[28]. - Profit before tax increased to RMB 12,059,000 for the six months ending June 30, 2024, from RMB 4,000,000 in 2023, a growth of 201.5%[28]. - Net profit for the period was RMB 9,005,000, up from RMB 3,070,000 in 2023, indicating a 194.4% increase[28]. - The profit attributable to owners of the company for the six months ended June 30, 2024, was RMB 8,958 thousand, up from RMB 3,047 thousand in the same period of 2023, marking a significant increase of 194.5%[31]. Expenses and Cash Flow - Operating expenses increased by 28.4% to approximately RMB 4.7 million, while administrative expenses rose by 23.3% to approximately RMB 11.6 million[13]. - Net cash inflow from operating activities for the period was approximately RMB 25.8 million, compared to RMB 13.4 million for the same period in 2023[22]. - As of June 30, 2024, the net cash generated from operating activities was RMB 25,832 thousand, compared to RMB 13,403 thousand for the same period in 2023, representing a 92.5% increase[32]. - The company's financing activities resulted in a net cash outflow of RMB 3,687 thousand for the six months ended June 30, 2024, compared to an inflow of RMB 48,249 thousand in the same period of 2023[32]. Assets and Liabilities - Total assets as of June 30, 2024, were approximately RMB 473.8 million, a slight decrease from RMB 483.1 million as of December 31, 2023[15]. - Total liabilities were approximately RMB 151.8 million, down from RMB 170.1 million as of December 31, 2023[15]. - The capital debt ratio was approximately 27.6% as of June 30, 2024, compared to 29.1% as of December 31, 2023[15]. - Trade receivables as of June 30, 2024, amounted to RMB 156,480,000, a decrease from RMB 201,473,000 as of December 31, 2023, indicating a reduction of 22%[54]. - Current liabilities decreased to RMB 151,763,000 as of June 30, 2024, from RMB 170,086,000 as of December 31, 2023[29]. - The company's trade payables as of June 30, 2024, were RMB 28,349,000, down from RMB 33,283,000 as of December 31, 2023, reflecting a decrease of 15%[56]. Market Outlook and Strategy - The company maintains a competitive pricing strategy and benefits from a decrease in material costs, contributing to revenue growth[3]. - The demand for raised floors is expected to grow steadily due to ongoing investments in new office buildings and the increasing construction area of industrial land in China[3]. - The company remains optimistic about the long-term development prospects of the raised floor industry despite challenges in the real estate sector[6]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[33]. Shareholder Information - Mr. Shen holds a controlled corporation interest of 272,625,000 shares, representing 27.26% of the company's equity, while his spouse holds 231,375,000 shares, accounting for 23.14%[61]. - The total equity held by Mr. Shen and his spouse amounts to 504,000,000 shares, which is 50.40% of the company's equity[61]. - Major shareholders include Jiachen Investment with 272,625,000 shares (27.26%) and Xincheng Investment with 231,375,000 shares (23.14%) as of June 30, 2024[69]. - The company has not established any arrangements that would allow directors and key executives to benefit from purchasing shares or debt securities of the company or any related entities as of June 30, 2024[68]. Corporate Governance - The company has complied with all applicable corporate governance codes during the reporting period[77]. - The Audit Committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the period[79]. - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with no dividend declared for the same period in 2023[50].
佳辰控股(01937) - 2024 - 中期财报