Financial Performance - The group's revenue increased by approximately RMB 449 million or 9.4% to approximately RMB 5,245 million for the six months ended June 30, 2024[9]. - The group's gross profit rose by approximately RMB 297 million or 8.2% to approximately RMB 3,918 million for the same period[9]. - The group's EBITDA increased by approximately RMB 144 million or 7.9% to approximately RMB 1,956 million for the six months ended June 30, 2024[9]. - Profit attributable to equity holders of the company increased by approximately RMB 121 million or 9.9% to approximately RMB 1,342 million for the six months ended June 30, 2024[9]. - The group's net profit for the six months ended June 30, 2024, was approximately RMB 134.2 million, an increase of about RMB 12.1 million or 9.9% compared to RMB 122.1 million for the same period in 2023[71]. - The company's gross profit increased to approximately RMB 391.8 million, up by about RMB 29.7 million or 8.2% from RMB 362.1 million for the same period in 2023, with a gross margin of 74.7%[61]. - The company's net profit for the period was RMB 134,196,000, up 9.04% from RMB 122,144,000 in the previous year[118]. - Basic and diluted earnings per share increased to RMB 18.15 from RMB 16.52, representing a growth of 9.45%[118]. Revenue Breakdown - For the six months ended June 30, 2024, the sales revenue of the flagship product, Jinsongzi throat lozenges (OTC), accounted for approximately 91.2% of the total revenue[24]. - The sales revenue of the Jinsongzi throat treasure series products represented about 8.3% of the total revenue for the same period[27]. - The sales revenue from other products accounted for approximately 0.5% of the total revenue, including the newly launched Jinsongzi intestinal treasure, a prebiotic product[28]. - Revenue from the sales of Jin Sang Zi throat lozenges (OTC) was approximately RMB 478.4 million, an increase of about RMB 50.3 million or 11.7% compared to RMB 428.1 million for the same period in 2023[55]. - The sales revenue from Jin Sang Zi throat treasure series products was approximately RMB 43.3 million, a decrease of about RMB 5.9 million or 12.0% compared to RMB 49.2 million for the same period in 2023[55]. Product Development and Innovation - The company has successfully developed 35 new products since 1994, obtaining production licenses for these products, including 8 pharmaceuticals and 21 food items[31]. - The company launched a new product, Jinsongzi composite probiotics lozenges, developed in collaboration with Beijing Agricultural University, which has obtained six patents[28]. - The group has developed a new probiotic lozenge using proprietary strains and advanced technologies, securing six patents for its active probiotics[44]. - The group is committed to continuous innovation in developing new products, including gene drugs and traditional Chinese medicine, to drive the growth of China's health industry[48]. Market Expansion and Strategy - As of June 30, 2024, Jinsongzi throat lozenges (OTC) have been exported to five continents, including the USA, Canada, EU, Australia, Southeast Asia, Middle East, Mexico, Mongolia, and Africa[24]. - The Jinsongzi throat treasure series products have been exported to 23 countries and regions, with India being the latest addition in early 2024[26]. - The group has successfully signed agency agreements with all 10 ASEAN countries, exporting products to nine of them, excluding Laos[39]. - The company initiated an international communication strategy in 2023, achieving nearly 80 million total impressions on its YouTube channel and over 4 million video views[35]. - The group aims to strengthen its brand recognition and image in China, planning to increase advertising through broader internet media coverage[49]. - The group plans to continue optimizing its product system and enhancing organizational capabilities to maintain its leading position in the throat lozenge market and expand its market share in China's pharmaceutical and food sectors[48]. Financial Position and Investments - As of June 30, 2024, the group's total bank borrowings amounted to approximately RMB 512.0 million, an increase of about RMB 99.7 million or 24.2% from RMB 412.3 million as of December 31, 2023[75]. - The group's current assets net value as of June 30, 2024, was approximately RMB 810.0 million, down from RMB 1,110.7 million as of December 31, 2023[72]. - The group's debt-to-equity ratio increased from approximately 26.6% as of December 31, 2023, to about 39.9% as of June 30, 2024[77]. - The group plans to invest approximately RMB 76.3 million in the second phase of a new pharmaceutical production and R&D base in Liuzhou, Guangxi Zhuang Autonomous Region[87]. - The company is constructing a new production and R&D base in Guangxi, covering an area of approximately 60,000 square meters, which is expected to enhance production capacity for its throat lozenges[51]. Shareholder Information and Governance - The board of directors did not recommend the declaration of any interim dividend for the six months ended June 30, 2024[9]. - The board of directors holds a total of 516,013,700 shares, representing approximately 69.79% of the issued share capital as of June 30, 2024[103]. - Major shareholders, including family trusts, control approximately 61.28% of the company's issued shares, totaling 453,025,800 shares[111]. - The company has adopted a corporate governance code to ensure high standards of governance and accountability[96]. - The audit committee has reviewed the interim financial statements for the six months ending June 30, 2024, and found the existing risk management and internal control systems to be effective and adequate[100]. Cash Flow and Financial Metrics - The company's cash and cash equivalents decreased to RMB 990,249,000 from RMB 1,032,200,000, reflecting a decline of 4.1%[126]. - Operating cash flow for the six months ended June 30, 2024, was RMB 237,783,000, down from RMB 257,230,000 in the same period of 2023, a decrease of 7.6%[133]. - The net cash flow from operating activities for the first half of 2024 was RMB 237,783,000, a decrease of 7.5% compared to RMB 257,230,000 in the same period of 2023[136]. - The total comprehensive income for the period was RMB 135,627,000, compared to RMB 132,955,000 in the prior year, indicating a slight increase[121]. - The total income tax expense for the six months ended June 30, 2024, was RMB 35,799,000, an increase of 8.4% compared to RMB 33,033,000 for the same period in 2023[152].
金嗓子(06896) - 2024 - 中期财报