Financial Performance - Revenue for the six months ended December 31, 2024, was RMB 441.2 million, a decrease of 25.4% compared to RMB 591.3 million in the same period of 2023[3]. - Gross profit for the same period was RMB 70.4 million, down 26.8% from RMB 96.2 million year-on-year[3]. - Operating loss improved to RMB 7.9 million from a loss of RMB 21.0 million, reflecting a positive change of RMB 13.1 million[3]. - Net loss for the period was RMB 7.7 million, compared to a net loss of RMB 20.9 million in the previous year, an improvement of RMB 13.2 million[3]. - Basic loss per share was RMB 1.00, an improvement of RMB 2.14 compared to RMB 3.14 in the prior year[3]. - The gross margin was 15.9%, a slight decrease of 0.4 percentage points from 16.3%[3]. - The group reported a net loss of RMB 7,680,000 for the six months ended December 31, 2024, compared to a net loss of RMB 20,884,000 for the same period in 2023[25][27]. - The retail segment's revenue was RMB 118.9 million, down 30.9% from RMB 172.0 million, while the distribution segment's revenue was RMB 322.3 million, down 23.1% from RMB 419.3 million[61]. Assets and Liabilities - Total assets decreased to RMB 606.1 million from RMB 692.9 million as of June 30, 2024[9]. - Current liabilities decreased to RMB 265.6 million from RMB 299.7 million, indicating improved liquidity management[11]. - The company’s total equity stood at RMB 340.4 million, down from RMB 352.9 million as of June 30, 2024[11]. - Total assets as of December 31, 2024, amounted to RMB 606,056,000, with total liabilities of RMB 265,630,000[25]. - Trade receivables decreased to RMB 69,480,000 from RMB 85,038,000, a decline of approximately 18.4%[35]. - Trade payables decreased to RMB 188,339,000 from RMB 211,165,000, a reduction of about 10.8%[37]. Financial Income and Expenses - The company reported a net financial income of RMB 1.7 million, compared to a net financial cost of RMB 2.2 million in the previous year[5]. - Financial income for the distribution segment was RMB 246,000, while the retail segment reported RMB 35,000[25]. - Selling and marketing expenses were RMB 60.0 million, a reduction of 37.0% from RMB 95.3 million, representing 13.6% of total revenue[66]. - Administrative expenses decreased to RMB 18.6 million from RMB 24.6 million, a decline of 24.4%, maintaining a ratio of 4.2% of total revenue[67]. - The net financial income for the period was RMB 1.7 million, compared to a net financial cost of RMB 2.2 million in the same period last year, primarily due to increased foreign exchange gains[68]. - Total tax expense increased to RMB 1,793,000 from a tax credit of RMB 1,617,000, indicating a shift in tax obligations[30]. - The effective tax rate for the period was 30.5%, with a tax expense of RMB 1.8 million, compared to a tax credit of RMB 1.6 million in the previous year[69]. Operational Highlights - Revenue from prescription drugs was RMB 84,282,000, while over-the-counter drugs generated RMB 303,436,000, indicating a significant contribution from non-prescription products[19]. - The distribution segment generated external customer revenue of RMB 322,260,000, while the retail segment contributed RMB 118,893,000[25]. - The company operates 182 retail stores as of the end of the period, focusing on enhancing regional influence and competitiveness[47]. - The company has 952 distributors and 3 large-scale distribution logistics centers as of December 31, 2024[48]. - The direct supply model has improved sales efficiency and profitability, covering most provinces in China[50]. - The company recorded a net reduction of 112 brand products, maintaining a total of 426 brand products in operation[51]. - The company had approximately 952 active customers in its national distribution network, down from 1,244 in the previous year[63]. Strategic Initiatives - The company plans to continue focusing on market expansion in Northeast China, leveraging its extensive customer network[23]. - The company plans to enhance its retail chain and distribution system while exploring structural transformation and digital upgrades in the health sector[82]. - The "Professional+" strategy aims to improve service quality and operational standards by focusing on training and integrating healthcare services[82]. - The "Platform+" strategy will expand value-added services in stores to meet increasing consumer health demands[83]. - The "Internet+" strategy will strengthen the connection between physical stores and online platforms, utilizing new marketing ecosystems[83]. - The company is exploring new operational models, including "Direct to Patient (DTP)" pharmacies, to adapt to the aging population and industry trends[46]. Governance and Compliance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange, except for a deviation regarding the separation of roles between the Chairman and CEO, which are held by the same individual[87]. - The company has adopted the standard code for securities trading for its directors, confirming compliance during the reporting period[88]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results for the period[91]. - The interim results announcement will be published on the Hong Kong Stock Exchange and the company's website, with a detailed report to be sent to shareholders[92]. Dividend and Stake Sale - The company did not declare an interim dividend for the six months ended December 31, 2024, consistent with the previous year[34]. - The company is in the process of selling a 43.78% stake in a subsidiary for RMB 43,000,000, which is classified as held for sale[38]. - The company is in the process of selling a 43.78% stake in a joint venture for RMB 43.0 million, with the transaction yet to be completed[78].
大健康国际(02211) - 2025 - 中期业绩