Financial Performance - For the six months ended December 31, 2024, the revenue was approximately RMB 34,852,000, an increase from RMB 33,158,000 in the same period last year, representing a growth of 5.1%[4] - The profit before tax for the same period was approximately RMB 58,000, compared to a loss of RMB 1,200,000 in the previous year, indicating a significant turnaround[9] - The loss attributable to owners of the company was approximately RMB 2,503,000, compared to a loss of RMB 1,658,000 in the prior year, reflecting a deterioration in performance[10] - The gross profit for the period was RMB 6,414,000, up from RMB 4,910,000, resulting in a gross margin improvement[9] - The total comprehensive loss for the period was RMB 762,000, an improvement from a loss of RMB 1,300,000 in the previous year[10] - The basic and diluted loss per share for the period was RMB 0.09, compared to RMB 0.06 in the same period last year, indicating a worsening in per-share performance[10] Assets and Liabilities - The total current assets decreased to RMB 177,343,000 from RMB 183,567,000, a decline of 3.5%[11] - The total liabilities decreased from RMB 88,273,000 to RMB 82,696,000, reflecting a reduction of 6.3%[11] - The total equity of the group decreased to RMB 117,935,000 from RMB 118,697,000, showing a decline of 0.64%[12] - The total equity as of December 31, 2024, is RMB 117,935,000, a decrease from RMB 118,697,000 as of July 1, 2024[13] - The accumulated losses increased to RMB 909,204,000 as of December 31, 2024, from RMB 906,575,000 as of July 1, 2024[13] - The cash and cash equivalents decreased to RMB 41,885,000 as of December 31, 2024, down from RMB 62,306,000 as of December 31, 2023[15] Operational Highlights - The company reported a total income from property management services of RMB 34,580,000 for the six months ended December 31, 2024, compared to RMB 32,786,000 for the same period in 2023, reflecting a growth of 5.5%[28] - The property management services segment recorded a profit of approximately RMB 3,755,000, compared to RMB 1,896,000 in the previous year[47] - The company incurred a corporate income tax expense of RMB 1,171,000 for the six months ended December 31, 2024, significantly higher than RMB 285,000 in the same period of 2023[33] - The company did not declare any interim dividends for the six months ended December 31, 2024, consistent with the previous year[35] Segment Performance - The adjusted profit before tax for the property development, leasing, and management services segment was RMB 58,000 for the six months ended December 31, 2024, compared to a loss of RMB 1,200,000 in the same period of 2023[24] - Total assets for the property development, leasing, and management services segment as of December 31, 2024, were RMB 156,700,000, a slight decrease from RMB 157,197,000 as of June 30, 2024[26] - The total liabilities for the same segment as of December 31, 2024, were RMB 45,030,000, down from RMB 48,524,000 as of June 30, 2024[26] Cash Flow and Financial Activities - The net cash flow from operating activities for the six months ended December 31, 2024, was a negative RMB 5,436,000, compared to a negative RMB 1,617,000 for the same period in 2023[15] - The company received RMB 221,000 in interest income during the six months ended December 31, 2024, compared to RMB 333,000 in the same period of 2023[15] Corporate Governance and Shareholder Information - The company has adopted the corporate governance code but has deviated from the code regarding the separation of roles between the chairman and the CEO[76] - As of December 31, 2024, the company has a significant shareholder, Chaolian Group Limited, holding 838,327,869 shares, representing approximately 28.97% of the issued shares[71] - The company has established an audit committee responsible for reviewing annual and interim reports, with three independent non-executive directors serving on the committee[81] Future Outlook and Strategic Plans - The group plans to seek potential projects to expand its business in China despite facing a challenging operating environment[51] - The group's property management services are expected to enhance its expertise in daily property management in China, particularly in the Jiangsu province[49] Miscellaneous - The company has no defined benefit plans as of December 31, 2024, and June 30, 2024[58] - As of December 31, 2024, the company has no capital commitments[64] - The company has no major investment plans or expected sources of funding as of December 31, 2024[62] - The company faces foreign currency risk due to certain financial assets and liabilities being denominated in foreign currencies, primarily Hong Kong dollars[63] - The company has no pledged assets as collateral for general bank financing as of December 31, 2024, and June 30, 2024[59] - There have been no significant events affecting the group since the end of the reporting period[82] - The company's articles of association do not contain provisions regarding preemptive rights for existing shareholders[80] - No major interests in competitive businesses are held by directors or management shareholders[79]
京维集团(01195) - 2025 - 中期财报