Financial Performance - For the six months ended June 30, 2024, the revenue was approximately RMB 237.3 million, a decrease of 2.5% compared to RMB 243.3 million for the same period in 2023[1][2]. - Gross profit for the same period was RMB 51.3 million, down 13.9% from RMB 59.6 million in the previous year[1][2]. - Profit attributable to equity shareholders was RMB 18.6 million, representing a decrease of 14.8% from RMB 21.7 million for the six months ended June 30, 2023[1][2]. - Operating profit for the period was RMB 25.9 million, compared to RMB 30.5 million for the same period in 2023[2]. - Total other income decreased to RMB 2,381,000 in the six months ended June 30, 2024, from RMB 2,937,000 in the same period of 2023, representing a decline of approximately 18.9%[10]. - Interest income from bank loans decreased to RMB 7,678,000 in the first half of 2024, down from RMB 8,952,000 in 2023, a reduction of about 14.3%[11]. - Basic earnings per share decreased to RMB 18,590,000 for the six months ended June 30, 2024, compared to RMB 21,808,000 for the same period in 2023, reflecting a decline of about 14.3%[16]. - Net profit fell by 14.8% from RMB 21.8 million to RMB 18.6 million due to the aforementioned factors[44]. Revenue Breakdown - Revenue from telecommunications infrastructure services amounted to RMB 195.1 million, an increase from RMB 189.1 million in the previous year[9]. - Revenue from digital solutions services was RMB 20.9 million, down from RMB 25.9 million in the same period last year[9]. - Revenue from telecommunications infrastructure services accounted for 90.9% of total revenue, amounting to RMB 215,799,000, compared to 84.4% or RMB 205,409,000 in 2023[33]. - Revenue from digital solutions services was RMB 21,484,000, representing 9.1% of total revenue, down from 15.6% or RMB 37,879,000 in 2023[33]. - The group's revenue decreased by 2.5% from RMB 243.3 million for the six months ended June 30, 2023, to RMB 237.3 million for the six months ending June 30, 2024, primarily due to a 43.3% decline in digital solution services revenue[34]. - Revenue from telecommunications infrastructure services increased by 5.1% from RMB 205.4 million to RMB 215.8 million, attributed to a slight increase in work orders for infrastructure construction services and a rise in revenue from maintenance services[34]. Assets and Liabilities - Total assets as of June 30, 2024, were RMB 1,186.8 million, an increase from RMB 1,161.4 million as of December 31, 2023[6]. - Total liabilities decreased to RMB 912.2 million from RMB 1,033.1 million as of December 31, 2023[6]. - The net asset value increased to RMB 274.5 million from RMB 128.2 million as of December 31, 2023[6]. - Trade receivables as of June 30, 2024, amounted to RMB 237,393,000, a decrease from RMB 247,109,000 as of December 31, 2023, indicating a reduction of approximately 3.5%[18]. - Total liabilities for trade and other payables decreased to RMB 553,263,000 as of June 30, 2024, from RMB 677,514,000 as of December 31, 2023, representing a decline of about 18.4%[21]. - As of June 30, 2024, trade payables amounted to RMB 440,783,000, slightly up from RMB 438,053,000 as of December 31, 2023[22]. - Short-term borrowings were RMB 339,402,000 as of June 30, 2024, a decrease from RMB 347,458,000 as of December 31, 2023[23]. Expenses and Costs - Total employee costs for the six months ended June 30, 2024, amounted to RMB 12,995,000, down from RMB 13,757,000 in 2023, reflecting a decrease of approximately 5.5%[11]. - Research and development costs (excluding employee costs) decreased to RMB 143,000 in the first half of 2024 from RMB 236,000 in 2023, a decline of about 39.4%[12]. - Administrative expenses decreased by 15.6% from RMB 24.3 million to RMB 20.5 million, attributed to reduced provisions for credit impairment losses and controlled entertainment expenses[40]. - Research and development expenses remained stable, decreasing slightly from RMB 6.0 million to RMB 5.9 million[41]. Dividends and Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024[1]. - The company did not declare or propose any dividends for the six months ended June 30, 2024, and 2023[26]. - The board does not recommend the payment of an interim dividend for the six months ending June 30, 2024[58]. Strategic Initiatives - The company has successfully expanded its telecommunications infrastructure services into the Xinjiang Uygur Autonomous Region as of June 30, 2024[31]. - The company plans to enhance its research and development capabilities to improve digital solution services[31]. - The group plans to use part of the net proceeds from the listing to acquire or invest in companies providing digital solutions, as part of its strategy to expand business scale and market share[52]. - The company aims to strengthen its brand reputation and market presence following its successful listing on the Hong Kong Stock Exchange on July 3, 2024[32]. Listing Information - On July 3, 2024, the company's ordinary shares were listed on the main board of the Stock Exchange, issuing 160,000,000 shares at a price of HKD 1.25 per share, raising a total cash consideration of HKD 200,000,000[60]. - The audit committee, consisting of three independent non-executive directors, reviewed the interim results for the six months ending June 30, 2024, and found them to comply with applicable accounting standards and regulations[59].
中赣通信(02545) - 2024 - 中期业绩