Revenue Performance - The Group's revenue decreased by approximately RMB69,054,000 during the Reporting Period, primarily due to a decrease in product sales by approximately RMB9,823,000 and a decline in technical service revenue by approximately RMB66,545,000[5][6]. - Revenue for the six months ended 30 September 2024 was RMB 184,631, a decrease of 27.3% from RMB 253,685 in the same period of 2023[145]. - Total revenue for the six months ended September 30, 2024, was RMB 184,631,000, down from RMB 253,685,000 in the same period of 2023, representing a decrease of approximately 27.3%[184]. - Revenue from the sale of software and solutions increased to RMB 71,644,000 for the six months ended September 30, 2024, up from RMB 64,330,000 in the same period of 2023, representing an increase of approximately 20.5%[184]. - Revenue from the provision of technical services decreased to RMB 100,105,000 for the six months ended September 30, 2024, down from RMB 166,650,000 in the same period of 2023, a decline of approximately 40%[184]. - Revenue from the sale of products decreased to RMB 12,882,000 for the six months ended September 30, 2024, compared to RMB 22,705,000 in the same period of 2023, a decline of approximately 43.4%[184]. Financial Position - As of 30 September 2024, the carrying amount of trade and bills receivables and contract assets was approximately RMB480,678,000, a decrease from approximately RMB496,931,000 as of 31 March 2024, attributed to strengthened collection efforts[9][11]. - Current assets decreased to RMB 599,888 from RMB 627,735 as of 31 March 2024[153]. - Total equity decreased to RMB 263,144 from RMB 277,088 as of 31 March 2024[154]. - Current assets exceeded current liabilities by RMB 251,233,000 as of September 30, 2024, compared to RMB 260,298,000 on March 31, 2024[180]. Profit and Loss - The profit and total comprehensive income for the six months ended September 30, 2024, was RMB 5,463,000, compared to a loss of RMB 73,000 for the same period in the previous year[126]. - Loss from operations was RMB 13,740 compared to a profit of RMB 3,792 in the same period last year[145]. - Loss before taxation was RMB 16,683, a significant decline from a profit of RMB 2,046 in the prior year[145]. - Loss attributable to equity shareholders was RMB 13,988, compared to a profit of RMB 2,821 in the same period of 2023[150]. - Total comprehensive income for the period attributable to equity shareholders was RMB (13,944), down from RMB 3,158 in the same period last year[149]. - Basic and diluted loss per share was RMB (2.82) compared to earnings of RMB 0.57 in the previous year[145]. Cash Flow and Financing - Net cash used in operating activities was RMB 14,238,000, a significant improvement compared to RMB 61,453,000 in the previous year[171]. - The Group reported cash and cash equivalents at the end of the period of RMB 47,269,000, down from RMB 62,891,000 at the beginning of the period[171]. - Proceeds from borrowings amounted to RMB 81,980,000, while repayment of borrowings was RMB 80,255,000[171]. - The Group's net cash generated from financing activities was negative at RMB 1,355,000, contrasting with a positive RMB 26,327,000 in the previous year[171]. Share Option and Award Schemes - The Company adopted a share option scheme on 5 February 2018 to incentivize selected participants for their contributions to the Group[39]. - The Company has been allowed to grant further share options to subscribe for up to an aggregate of 50,392,717 Shares, representing approximately 10% of the issued Shares[45]. - The maximum entitlement of each participant under the Share Option Scheme shall not exceed 1% of the issued share capital of the Company in any 12-month period[45]. - The maximum number of Shares awarded to a selected participant under the Share Award Scheme shall not exceed 1% of the issued share capital of the Company[75]. - The Share Award Scheme has a remaining life of approximately four years[84]. - No Share has been awarded by the Board to any eligible participant of the Share Award Scheme as of September 30, 2024[74]. Governance and Compliance - The Company has complied with all code provisions of the Corporate Governance Code throughout the Reporting Period, emphasizing effective risk management and internal controls[23]. - The independent review report of the auditor will be included in the Interim Report to Shareholders[62]. - The interim financial report is unaudited but has been reviewed by KPMG, ensuring compliance with relevant standards[177]. Other Financial Metrics - R&D expenditure decreased by approximately RMB11,853,000 compared to the same period last year[13]. - Interest-bearing liabilities included short-term bank loans of approximately RMB129,200,000 and long-term bank loans of approximately RMB14,900,000, representing 54.8% of net assets[15][17]. - The Group did not hold any material investments or engage in any material acquisitions or disposals of subsidiaries during the Reporting Period[16][18]. - The Group did not have any material contingent liabilities as of 30 September 2024[19]. - The credit risk and default risk of major customers regarding trade receivables and contract assets have not changed significantly compared to previous years[9][11]. - The Group maintains a strong business relationship with major banks, which is expected to support the renewal of bank loans during the twelve months ending September 30, 2025[180].
元力控股(01933) - 2025 - 中期财报