Revenue Performance - Total revenue for the six months ended June 30, 2024, was RMB 458.3 million, a decrease of 35.3% compared to RMB 708.4 million for the same period in 2023[7]. - For the six months ended June 30, 2024, the company recorded total revenue of RMB 458.3 million, a decrease of approximately 35.3% compared to RMB 708.4 million for the same period in 2023[24]. - Internet advertising business revenue decreased by 48.5% to RMB 318.2 million for the six months ended June 30, 2024, down from RMB 617.3 million in the same period of 2023[20]. - Revenue from SaaS platform operations reached RMB 116,965 thousand for the six months ended June 30, 2024, up from RMB 84,583 thousand in the same period of 2023, representing a growth of 38%[92]. - Major customer 1 contributed RMB 68,140 thousand to revenue in the first half of 2024, while major customer 2 contributed RMB 62,437 thousand, compared to RMB 278,548 thousand from major customer 2 in the same period of 2023[91]. User Metrics - Daily active users decreased to 15.4 million from 27.6 million year-over-year, while monthly active users fell to 277.2 million from 447.1 million[11]. - The number of paid customers increased to 531, with 170 from the financial sector and 361 from other industries, compared to 519 total paid customers in the first half of 2023[10]. - The number of advertising page views dropped to 3,034.1 million from 5,271.8 million year-over-year[11]. - The number of billed clicks decreased to 912.2 million from 1,651.5 million in the previous year[11]. Financial Losses - Adjusted loss for the period was RMB 17.6 million, compared to a profit of RMB 24.0 million in the first half of 2023[8]. - The company reported a net loss of RMB 19.1 million for the six months ended June 30, 2024, compared to a profit of RMB 22.1 million for the same period in 2023[8]. - For the six months ended June 30, 2024, the loss attributable to shareholders was RMB 19.1 million, compared to a profit of RMB 22.1 million in the same period of 2023[31]. - The company reported a pre-tax loss of RMB (19,527) thousand for the six months ended June 30, 2024, compared to a profit of RMB 28,284 thousand for the same period in 2023[79]. Cost and Expenses - Gross profit for the six months ended June 30, 2024, was RMB 61.5 million, a decrease of approximately 63.2% from RMB 167.0 million in the first half of 2023, resulting in a gross margin of about 13.4%[25]. - Research and development expenses decreased by 27.6% to RMB 23.8 million in the first half of 2024, down from RMB 32.9 million in the same period of 2023[21]. - Sales and distribution expenses were RMB 41.3 million, a decrease of 39.3% from RMB 68.1 million in the first half of 2023[26]. - Administrative expenses were RMB 52.5 million, down 23.5% from RMB 68.6 million in the first half of 2023, primarily due to employee optimization and stricter cost control[27]. Cash Flow and Assets - The net cash outflow from operating activities was RMB 374.9 million, significantly higher than RMB 150.8 million in the first half of 2023, primarily due to an increase in trade receivables[31]. - As of June 30, 2024, the company had cash and cash equivalents of approximately RMB 232.0 million, up from RMB 191.4 million on June 30, 2023[31]. - Trade receivables increased significantly to RMB 682,714 thousand as of June 30, 2024, compared to RMB 344,051 thousand at the end of 2023, reflecting a 98.5% increase[74]. - The company’s total liabilities increased to RMB 953,406 thousand as of June 30, 2024, compared to RMB 784,108 thousand at the end of 2023, representing a 21.6% increase[74]. Corporate Governance - The company has adopted the Corporate Governance Code and has complied with all applicable provisions as of June 30, 2024[43]. - The board of directors has confirmed compliance with the Standard Code of Conduct regarding securities trading for the six months ending June 30, 2024[47]. - The company has established a balanced power structure and appropriate safeguards in its governance practices[43]. - The chairman and CEO roles are held by the same individual to enhance decision-making efficiency, as per the board's assessment[43]. Future Outlook and Strategies - New strategies and market expansion efforts are ongoing, with a focus on enhancing user engagement and advertising effectiveness[10]. - The company plans to invest in new product development, particularly in AI-driven technologies[158]. - Market expansion strategies include targeting tier-2 and tier-3 cities in China to increase user base[158]. - The company is exploring potential mergers and acquisitions to strengthen its market position[158]. - Future outlook includes a projected revenue growth of 15% year-over-year for the next fiscal year[158].
兑吧(01753) - 2024 - 中期财报