Financial Performance - Revenue for the six months ended December 31, 2024, was RMB 395,186,000, an increase of 6.8% compared to RMB 370,017,000 for the same period in 2023[10]. - Gross profit decreased to RMB 44,560,000, down 12.9% from RMB 51,119,000 year-over-year[10]. - Loss from operations was RMB 7,854,000, compared to a profit of RMB 1,019,000 in the previous year[10]. - Loss before tax increased to RMB 10,465,000, compared to RMB 3,102,000 in the same period last year[10]. - Loss for the period was RMB 8,989,000, up from RMB 5,125,000 in the prior year[10]. - Basic and diluted loss per share was RMB 0.40, compared to RMB 0.27 for the same period in 2023[10]. - Total comprehensive expense for the period was RMB 11,467,000, compared to RMB 5,167,000 in the previous year[12]. - The company reported a net loss of RMB 8,650,000 for the six months ended December 31, 2024, compared to a loss of RMB 5,863,000 for the same period in 2023, representing an increase in loss of approximately 47.8%[15]. - The total profit of reportable segments for the same period was RMB 6,964,000, down 22.9% from RMB 9,041,000 in 2023[39]. - Consolidated loss for the period was RMB 8,989,000, compared to a loss of RMB 5,125,000 in the previous year, indicating a deterioration in performance[39]. Assets and Liabilities - As of December 31, 2024, total assets less current liabilities amounted to RMB 112,719,000, a decrease from RMB 123,886,000 as of June 30, 2024, reflecting a decline of approximately 9.1%[13]. - The net current assets decreased to RMB 11,870,000 from RMB 23,410,000, indicating a decline of about 49.3%[13]. - Total assets increased to RMB 614,834,000 from RMB 594,576,000, showing a growth of 3.9%[39]. - Total liabilities rose to RMB 502,115,000 from RMB 470,690,000, marking an increase of 6.7%[39]. - The company’s borrowings increased to RMB 145,000,000 as of December 31, 2024, from RMB 100,000,000 as of June 30, 2024, reflecting a rise of 45%[13]. Cash Flow - Cash and cash equivalents at the end of the period were RMB 47,092,000, down from RMB 57,554,000 at the beginning of the period, marking a decrease of about 18.2%[16]. - Net cash used in operating activities was RMB 54,913,000 for the six months ended December 31, 2024, compared to RMB 29,554,000 for the same period in 2023, indicating an increase in cash outflow of approximately 85.6%[16]. Segment Performance - For the six months ended December 31, 2024, revenue from external customers in the service segment was RMB 395,186, an increase from RMB 370,017 for the same period in 2023, representing a growth of approximately 6.8%[32]. - The segment profit for the service segment was RMB 6,964 for the six months ended December 31, 2024, compared to a profit of RMB 9,041 in the same period of 2023, indicating a decrease of approximately 22.9%[32]. - Domestic sales of steel products accounted for RMB 361,429,000, up 8.4% from RMB 333,353,000 in 2023[40]. Administrative and Distribution Costs - The company reported an increase in administrative expenses to RMB 29,990,000, up from RMB 23,848,000 year-over-year[10]. - Distribution costs decreased to RMB 32,304,000 from RMB 38,301,000 in the previous year, reflecting a reduction of 15.6%[10]. Legal and Compliance Issues - Trading in the company's shares was suspended on September 29, 2023, due to the failure to publish the 2023 Annual Results in accordance with the Listing Rules[88]. - The company was unable to publish the 2023 Annual Results by the deadline of September 30, 2023, due to the need for additional time to gather necessary documents and information requested by the auditor[82]. - The Company must publish all outstanding financial results and address any audit modifications as part of the Resumption Guidance[95]. - The Company has until March 28, 2025, to remedy the issues causing the suspension; failure to do so may result in the cancellation of its listing[92]. Strategic Initiatives - The company aims to improve product quality and service, modernize production equipment, and conduct product research and development to enhance competitiveness while controlling operational costs[139]. - Guangzhou Mayer has established a registered non-Hong Kong company in Hong Kong to promote additional sales and liaise with potential customers[138]. - The company entered into a consultancy agreement with Sino Light Investment Advisory Limited to assist in developing its Environmental Technology Business for a term of two years[196]. Market and Industry Context - The PRC's 13th and 14th Five Year Plans emphasize controlling carbon pollution and promoting green building materials, indicating substantial demand for environmental technologies[190][193]. - The company faced challenges in business development due to the pandemic, including delays in property development projects and difficulties for potential buyers to perform site visits[150]. - The industry is expected to stabilize and gradually return to pre-pandemic levels by the second half of 2023, depending on future developments of the pandemic and the global macroeconomic environment[172].
MAYER HOLDINGS(01116) - 2025 - 中期财报