Financial Performance - For the six months ended December 31, 2024, the company reported revenue of approximately RMB 36,687,000, a decrease of 5.3% compared to RMB 38,752,000 for the same period in 2023[9] - Gross profit for the same period was approximately RMB 3,747,000, with a gross margin of 10.2%, up from 10.0% in the previous year[10] - The company experienced a net loss of approximately RMB 26,471,000, an increase of 24.4% from a net loss of RMB 21,278,000 in the prior year[17] - Revenue for the six months ended December 31, 2024, was RMB 36,687,000, a decrease of 5.4% compared to RMB 38,752,000 for the same period in 2023[42] - Gross profit for the same period was RMB 3,747,000, down from RMB 3,862,000, reflecting a decline of 3.0%[42] - Operating loss increased to RMB 16,668,000 from RMB 12,750,000, representing a rise of 30.5% year-over-year[42] - The net loss for the period was RMB 26,471,000, compared to RMB 21,278,000 in the previous year, indicating a 24.5% increase in losses[42] - The company reported a total comprehensive loss of RMB 26,947,000 for the period, compared to a comprehensive income of RMB 3,092,000 in the previous year[42] - The group incurred a pre-tax loss of RMB 26,471,000 for the six months ended December 31, 2024, compared to a pre-tax loss of RMB 21,278,000 for the same period in 2023, indicating a worsening of approximately 24.5%[58][59] Cash and Liquidity - Cash and cash equivalents increased significantly to approximately RMB 16,839,000, a rise of 251.1% from RMB 4,796,000 as of June 30, 2024[9] - The cash and cash equivalents at the end of the period increased to RMB 16,839,000 from RMB 12,186,000 at the end of the same period in 2023, reflecting a growth of approximately 38.5%[51] - The group reported a net cash inflow from operating activities of RMB 11,176,000, compared to a cash outflow of RMB 16,035,000 for the same period in 2023[51] - The group’s financing activities resulted in a net cash inflow of RMB 3,222,000 for the six months ended December 31, 2024, a significant decrease from RMB 73,258,000 in the same period of 2023[51] Assets and Liabilities - Total assets less current liabilities amounted to RMB (279,490,000) as of December 31, 2024, compared to RMB (252,346,000) as of June 30, 2024[43] - Non-current assets decreased to RMB 54,024,000 from RMB 64,790,000, a decline of 16.5%[43] - Trade receivables surged to approximately RMB 23,011,000, reflecting a 433.3% increase from RMB 4,315,000 as of June 30, 2024[9] - Trade and other receivables rose to RMB 26,387,000 from RMB 8,166,000, an increase of 223.5%[43] - Total borrowings amounted to RMB 213,756,000, with bank loans at RMB 155,927,000 and other borrowings at RMB 57,829,000[80] Expenses and Costs - Distribution costs rose by approximately 29.2%, increasing from RMB 746,000 to RMB 964,000 compared to the previous year[14] - Administrative expenses increased to approximately RMB 18,285,000 from RMB 16,704,000 in the prior year[15] - Financing costs rose to RMB 9,803,000, compared to RMB 8,528,000, marking an increase of 14.9%[42] - Depreciation of property, plant, and equipment increased to RMB 10,766,000 from RMB 7,268,000, while inventory expenses decreased to RMB 32,940,000 from RMB 34,890,000[63] Shareholder and Capital Information - The major shareholder, Mr. Wu, holds 243,338,111 shares, representing 71.45% of the issued share capital[31] - The company has decided not to declare any interim dividend for the six months ended December 31, 2024[18] - The company did not declare an interim dividend for the six months ended December 31, 2024, consistent with the previous period[66] - The weighted average number of ordinary shares for basic and diluted loss per share increased to 340,558,265 from 275,224,298 due to a share consolidation[67] Employment and Management Compensation - The group employed 110 staff as of December 31, 2024, a decrease from 121 staff in 2023[29] - The total compensation for key management members for the six months ended December 31, 2024, was RMB 420,000, compared to RMB 430,000 for the same period in 2023, reflecting a decrease of approximately 2.33%[83] - Short-term benefits for management were RMB 358,000 for the six months ended December 31, 2024, down from RMB 365,000 in 2023, indicating a decline of about 1.92%[83] - Post-employment benefits decreased to RMB 62,000 in 2024 from RMB 65,000 in 2023, representing a reduction of approximately 4.62%[83] Business Operations - The company continues to focus on producing frozen concentrated orange juice and expanding sales to juice trading companies[10] - The group’s manufacturing and sales of frozen concentrated orange juice generated revenue of RMB 32,157,000, while the sales of Senmei fresh orange juice contributed RMB 4,530,000 for the six months ended December 31, 2024[58] - The group’s operating segments include the manufacturing and sales of frozen concentrated orange juice and other related products, as well as the manufacturing and sales of Senmei products[56] Other Information - The group reported no significant contingent liabilities as of December 31, 2024, consistent with June 30, 2024[26] - There were no capital expenditures during the reporting period, maintaining the same status as the six months ending December 31, 2023[27] - The company has no specific plans for significant investments or capital assets as of December 31, 2024[28] - The group did not grant any incentive shares during the reporting period under the share incentive plan adopted on September 11, 2015[37] - There are no significant post-reporting period events related to the group's business or financial performance[30] - The company did not engage in any purchase, sale, or redemption of its listed securities during the reporting period[35] - There were no purchases or sales of property, plant, and equipment during the reporting period[70] - The average credit period for trade payables is between 90 to 150 days, ensuring all payables are settled within the credit terms[77] - The group’s capital reserve includes RMB 3,585,000 from the capital contribution of Senmei Fujian and RMB 36,396,000 related to Sunshine Vocal's loan and interest capital reserve[50] - The total other income for the six months ended December 31, 2024, was RMB 3,050,000, compared to RMB 838,000 in the same period of 2023, indicating a substantial increase[61]
森美控股(00756) - 2025 - 中期财报