Revenue and Profitability - For the six months ended December 31, 2024, the company recorded revenue of approximately RMB 31,100,000, an increase from RMB 19,000,000 in the previous period, representing a growth of 63.16%[15] - The company generated timber sales revenue of approximately RMB 11,560,000 from the sale of 8,547 cubic meters of timber during the reporting period[9] - Ginseng business revenue amounted to approximately RMB 16,150,000, which includes RMB 10,770,000 from purchased ginseng and RMB 5,380,000 from self-cultivated ginseng[11] - The health products segment recorded revenue of approximately RMB 3,400,000 during the reporting period[12] - The gross profit for the reporting period was approximately RMB 2,800,000, down from RMB 3,800,000 in the previous period, indicating a decline of 26.32%[16] - The company recorded a profit of approximately RMB 5,000,000 during the reporting period, a significant decline from approximately RMB 201,400,000 in the previous period[21] - Revenue for the six months ended December 31, 2024, was RMB 31,112,000, an increase of 63.5% compared to RMB 19,020,000 for the same period in 2023[51] - Gross profit for the same period was RMB 2,777,000, down 26.2% from RMB 3,758,000 in 2023[51] - The company reported a profit before tax of RMB 5,042,000, significantly lower than RMB 201,423,000 in the previous year, primarily due to a one-time debt restructuring gain in 2023[51] - Net profit for the period was RMB 4,978,000, compared to RMB 201,421,000 in the prior year[51] - Total comprehensive income for the period was RMB 6,353,000, down from RMB 207,869,000 in 2023[51] Assets and Liabilities - As of December 31, 2024, the total assets of the group were approximately RMB 191,100,000, with net assets of approximately RMB 24,900,000 and cash and bank balances of approximately RMB 2,700,000[22] - The capital debt ratio as of December 31, 2024, was approximately 87.0%, down from 92.7% on June 30, 2024[26] - The total number of issued ordinary shares as of December 31, 2024, was 859,242,204 shares, an increase from 716,242,204 shares on June 30, 2024[27] - Non-current assets as of December 31, 2024, totaled RMB 137,728,000, an increase from RMB 130,844,000 as of June 30, 2024[52] - Current assets increased to RMB 53,357,000 from RMB 47,322,000 as of June 30, 2024[52] - Current liabilities rose to RMB 53,356,000 from RMB 49,315,000 as of June 30, 2024[52] - The company's net asset value increased to RMB 24,869,000 from RMB 12,963,000 as of June 30, 2024[53] - Total assets increased to RMB 191,085,000 as of December 31, 2024, up from RMB 178,166,000 as of June 30, 2024[69] - Total liabilities rose to RMB 166,216,000, compared to RMB 165,203,000 in the previous period[71] Expenses and Costs - Sales and distribution expenses during the reporting period were RMB 148,000, a significant decrease from RMB 623,000 in the previous period, primarily due to advertising expenses[17] - Administrative expenses increased by 11.9% from approximately RMB 8,400,000 in the previous period to approximately RMB 9,400,000, mainly due to legal and professional fees as well as depreciation expenses[18] - Financing costs rose to RMB 1,300,000 during the reporting period, up from approximately RMB 100,000 in the previous period, due to interest on promissory notes[20] - Employee costs totaled RMB 1,528,000, a decrease from RMB 1,884,000 in the previous year[77] - The cost of harvested timber was RMB 11,564,000, down from RMB 15,262,000 in the previous year[77] Cash Flow and Financing - Operating cash flow for the six months ended December 31, 2024, was RMB 1,769,000, down from RMB 3,293,000 in the same period of 2023[55] - The total cash and cash equivalents at the end of the period were RMB 2,676,000, a decrease from RMB 3,230,000 at the beginning of the period[55] - The company’s financing activities generated a net cash inflow of RMB 3,831,000 during the period[55] - The company issued a total of RMB 120,000,000 in notes secured by land, with varying interest rates from 0% to 6% over five years[101] Shareholder Information - The company maintained a public float of no less than 25% of its issued shares as required by listing rules[48] - The total issued and paid-up ordinary shares increased to 859,242,000 shares, up from 716,242,000 shares, an increase of 19.9%[102] - No dividends were declared or proposed for the six months ended December 31, 2024, consistent with the previous period[80] Ginseng and Timber Operations - The company has obtained a logging permit for 2024, allowing for a total logging volume of 8,547 cubic meters, which is higher than the previous year's logging volume[13] - The company plans to reduce reliance on suppliers by cultivating its own aged ginseng stock, aiming for self-sufficiency in ginseng production[13] - The company has initiated the manufacturing and trading of health products since November 2024, with plans to expand its market presence in China[13] - The company successfully planted its first batch of Epimedium on its owned forest land in June 2024, which is expected to generate future revenue[14] - The company has signed a legally binding framework agreement with independent suppliers for ginseng cultivation, ensuring a stable supply of ginseng seeds and technical support for a period of 10 years[10] - The forestry business generated revenue of RMB 11,564,000, while the ginseng business contributed RMB 16,152,000, and health products generated RMB 3,396,000[68] Risk Management - The company has implemented extensive measures to monitor and mitigate risks related to climate change, pests, and natural disasters affecting timber growth[94] - The company faces risks related to fluctuations in timber prices and sales volumes, and management conducts regular industry trend analyses to align pricing structures with market conditions[95] Taxation - The company reported a tax expense of RMB 64,000 for the six months ended December 31, 2024, compared to RMB 2,000 for the same period in 2023, indicating a significant increase[78] - The effective tax rate for qualifying group entities in Hong Kong is 8.25% on the first HKD 2 million of taxable profits and 16.5% on profits above that threshold[79] - The company has not reported any taxable profits for the current and previous periods, resulting in no tax provisions in the consolidated financial statements[79] Other Financial Information - Other income for the reporting period was approximately RMB 13,100,000, compared to approximately RMB 4,700,000 in the previous period, with the increase mainly attributed to the net gain from the fair value change of artificial forest assets[19] - Other total income net amount was RMB 13,140,000, significantly up from RMB 4,726,000 in the previous year[72] - The company has not issued any diluted earnings per share due to the absence of potential dilutive ordinary shares during the reporting periods[83]
中国健康科技集团(01069) - 2025 - 中期财报