Financial Performance - For the six months ended September 30, 2024, the company reported revenue of RMB 28,232,000, a decrease of 1.24% compared to RMB 28,587,000 for the same period in 2023[5]. - Gross profit for the same period was RMB 10,133,000, down from RMB 10,857,000, reflecting a decline of 6.66%[5]. - The company recorded a net loss of RMB 3,247,000 for the period, an improvement from a net loss of RMB 5,066,000 in the previous year, representing a reduction of 36.00%[5]. - Total comprehensive loss for the period was RMB 3,657,000, compared to RMB 3,156,000 in the prior year, indicating a slight increase of 15.87%[5]. - The company's basic and diluted loss per share improved to RMB 2.04 from RMB 3.18, a decrease of 35.84%[5]. - Total revenue for the six months ended September 30, 2024, was RMB 28,232,000, a decrease of 1.24% compared to RMB 28,587,000 for the same period in 2023[27]. - Revenue from drilling mud sales was RMB 8,739,000, down 20.73% from RMB 11,028,000 in the previous year[27]. - Revenue from metallurgical bentonite increased to RMB 10,829,000, up 14.19% from RMB 9,484,000 in the prior year[27]. - Wealth management service income rose to RMB 7,285,000, an increase of 12.93% compared to RMB 6,450,000 in 2023[27]. - Total financial services revenue was RMB 8,617,000, up 7.29% from RMB 8,030,000 in the previous year[27]. Assets and Liabilities - As of September 30, 2024, total assets amounted to RMB 126,433,000, a decrease from RMB 129,812,000 as of March 31, 2024[12]. - Current assets were reported at RMB 94,868,000, down from RMB 107,929,000, reflecting a decline of 12.09%[12]. - The company's total equity as of September 30, 2024, was RMB 115,815,000, compared to RMB 119,472,000 at the end of the previous reporting period[19]. - Non-current assets increased to RMB 52,448,000 from RMB 43,925,000, marking an increase of 19.00%[12]. - As of September 30, 2024, trade receivables from customer contracts amounted to approximately RMB 11,093,000, an increase from RMB 10,494,000 as of March 31, 2024, representing a growth of 5.7%[43]. - Total trade payables as of September 30, 2024, were RMB 4,089,000, down from RMB 4,956,000 as of March 31, 2024, reflecting a decrease of 17.5%[55]. - The company reported a total of RMB 20,249,000 in cash and cash equivalents as of September 30, 2024, compared to RMB 27,445,000 as of March 31, 2024, indicating a decline of 26.1%[52]. - The total amount of loans and interest receivables, net of impairment provisions, was RMB 10,296,000 as of September 30, 2024, down from RMB 12,226,000 as of March 31, 2024, a decrease of 15.8%[48]. - The company reported a total of RMB 46,876,000 in various receivables as of September 30, 2024, compared to RMB 53,218,000 as of March 31, 2024, reflecting a decrease of 11.9%[43]. Operational Highlights - The company continues to focus on its core business areas, including bentonite mining and financial services, with no new product launches or significant market expansions reported during the period[22]. - The company incurred capital expenditures of approximately RMB 9,241,000 on property, plant, and equipment during the reporting period[39]. - The company did not declare or propose any dividends during the reporting period[34]. - The company has recognized contract liabilities of RMB 126,000 related to sales of goods as of September 30, 2024, consistent with the previous period[58]. - The company received a guarantee fee calculated at 6% of the pledged deposit amount, totaling RMB 20 million, to facilitate a loan of RMB 19 million for a third-party borrower[65]. - The company’s financial guarantee income is derived from its wholly-owned subsidiary, which operates in China[68]. - The company anticipates that the Hong Kong lending market will continue to be influenced by global economic conditions and interest rate changes in 2024[73]. - The lending market in Hong Kong is projected to face a cautious consumer behavior and tightening credit environment, with an estimated economic growth rate of around 3.3% in 2024[117]. Cost and Expenses - Total sales costs increased by approximately 2.1% to about RMB 18.1 million from RMB 17.7 million in the previous year, influenced by higher wealth management service commission expenses and increased costs in the bentonite mining business[85]. - Wealth management service commission expenses rose by approximately 2.1% to about RMB 4.8 million, reflecting a growth in service income while maintaining cost control[87]. - The sales cost of bentonite mining increased by approximately 2.1% to about RMB 13.3 million, mainly due to rising unit sales costs[88]. - Administrative and other expenses decreased by approximately 16.5% from RMB 15.1 million to RMB 12.6 million, mainly due to reductions in legal and professional fees and employee costs[95]. - Financing costs increased by approximately 5.9% from RMB 270,000 to RMB 286,000, primarily due to an increase in the provision for disposal[97]. Market Outlook - The financial services segment in Hong Kong is expected to face a dynamic landscape characterized by growth opportunities and significant challenges in the second half of the fiscal year[116]. - The insurance brokerage market in Hong Kong is expected to continue growing, driven by strong premium growth across various segments[116]. - The group anticipates a stable profit margin for bentonite products as demand is expected to gradually recover[114]. - The overall insurance market in Hong Kong is expected to grow, with gross premiums increasing by 5.1% year-on-year to approximately HKD 310.9 billion in the first half of 2024[69]. Governance and Management - The group has adopted the corporate governance code as per GEM Listing Rules Appendix C1[119]. - The board consists of three executive directors and three independent non-executive directors[131]. - The board expresses gratitude to employees and management for their efforts during the reporting period[130]. - There have been no significant events occurring after the reporting period up to the date of this announcement[128]. - No interim dividend is recommended for the reporting period, consistent with the previous period[127].
倍搏集团(08331) - 2025 - 中期业绩