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正味集团(02147) - 2024 - 中期财报
ZHENGWEI GROUPZHENGWEI GROUP(HK:02147)2025-03-28 09:22

Financial Performance - The company's total revenue for the reporting period was approximately RMB 598.1 million, an increase of about 34.3% compared to approximately RMB 445.2 million in the previous period[17]. - Gross profit for the reporting period was approximately RMB 9.4 million, a decrease of about 93.6% from approximately RMB 147.3 million in the previous period, resulting in a gross margin of approximately 1.6%, down 31.5 percentage points from 33.1%[20]. - The net loss for the reporting period was approximately RMB 53.6 million, compared to a net profit of approximately RMB 67.5 million in the previous period, mainly due to a significant increase in direct material costs[26]. - Revenue for the twelve months ended December 31, 2024, was RMB 598,057 thousand, representing a 34.3% increase from RMB 445,214 thousand in 2023[67]. - The group reported a net loss attributable to ordinary equity holders of RMB (53,574,000) for 2024, compared to a profit of RMB 67,517,000 in 2023, indicating a shift in performance[91]. - The income tax expense for the twelve months ending December 31, 2024, was RMB 19,843,000, up from RMB 9,182,000 in 2023, representing a 116.3% increase[87]. Operational Highlights - The group primarily produces dried food products and snacks in Jiangxi Province, China, with additional operations in Sichuan and Hubei Provinces[10]. - The company operates two production facilities in Jiangxi Province, focusing on processing and packaging dried food products and snacks[14]. - The company plans to introduce new snack products, including vegetable snacks like mushrooms and meat snacks such as boneless chicken feet and beef jerky, to align with evolving consumer preferences[15]. - The company aims to expand its supermarket sales network and promotional counters in Southwest China, particularly in Sichuan Province[16]. - The group has established a solid customer base, including retailers and corporate clients, through over 20 years of experience in dried food production[13]. Financial Position - Cash and cash equivalents decreased by approximately 24.4%, from approximately RMB 199.2 million as of December 31, 2023, to approximately RMB 150.5 million as of December 31, 2024[29]. - Total assets decreased to RMB 487,545 thousand from RMB 522,776 thousand year-over-year[70]. - The company’s total liabilities decreased to RMB 213,035,000 as of January 1, 2024, from RMB 220,168,000 at the end of 2023[72]. - The company had no asset pledges as of December 31, 2024, compared to approximately RMB 18.2 million on December 31, 2023[52]. Shareholder Information - The total number of issued shares as of the mid-term report date was 1,120,000,000 shares[45]. - As of December 31, 2024, major shareholders include Shengyao Investment with 190,207,478 shares (19.81%), and Nanchang County Cultural Tourism Investment Co., Ltd. with 283,287,733 shares (29.51%)[49]. - The company views the second placement as a good opportunity to broaden its shareholder base and capital foundation[42]. - The company completed a second placement of shares on January 6, 2025, at HKD 0.038 per share[55]. Employee and Management Information - The company had a total of 123 employees as of December 31, 2024, an increase from 755 employees on December 31, 2023, due to increased sales and the need for more production staff[46]. - The company’s compensation policy is based on individual employee performance, qualifications, experience, and overall company performance[46]. - The company appointed Mr. Yu Zhijie as an independent non-executive director effective January 15, 2025[56]. - The company replaced its auditor with Yongtuo Fuxin CPA Firm effective February 24, 2025, after the previous auditor resigned[57]. Inventory and Cost Management - The company reported an increase in inventory, with a rise of RMB 15,923,000 in 2024 compared to an increase of RMB 7,935,000 in 2023[73]. - The group's inventory as of December 31, 2024, was RMB 114,195,000, compared to RMB 98,606,000 in 2023, showing an increase of 15.8%[97]. - Trade payables increased to RMB 71,127,000 in 2024 from RMB 48,360,000 in 2023, indicating a rise in operational liabilities[101]. Compliance and Governance - The company has adopted the standard code for securities transactions by directors, confirming compliance during the reporting period[62]. - The audit committee reviewed the unaudited interim results for the twelve months ended December 31, 2024, and found no discrepancies in financial disclosures[64]. - The group did not declare an interim dividend for the twelve months ending December 31, 2024, consistent with the previous year[90].