Financial Performance - The revenue from the wine business increased by 42.4% compared to the same period last year, despite the company still recording a loss[4] - Revenue for the six months ended June 30, 2025, was RMB 18,775,000, compared to RMB 13,175,000 for the same period in 2024, representing a year-over-year increase of 42.5%[10] - Gross profit for the same period was RMB 12,623,000, up from RMB 11,254,000 in 2024, indicating a growth of 12.2%[10] - The net loss from continuing operations for the six months ended June 30, 2025, was RMB 3,470,000, compared to a loss of RMB 2,696,000 in 2024, reflecting a deterioration of 28.7%[10] - The total comprehensive loss for the period was RMB 1,835,000, an improvement from RMB 3,370,000 in the previous year, showing a reduction of 45.5%[11] - Other income and gains for the six months ended June 30, 2025, amounted to RMB 1,994,000, compared to RMB 113,000 in 2024, a significant increase of 1,664.6%[10] - The company reported a basic and diluted loss per share of RMB 0.34 for the period, compared to RMB 0.44 in the previous year, indicating an improvement of 22.7%[10] - The company reported a loss of RMB 2,745,000 during the first half of 2025, compared to a loss of RMB 3,531,000 in the same period of 2024, showing an improvement of about 22.3%[14] Operational Developments - The company completed the upgrade project of its Shanxi winery facilities, enhancing the visitor experience and supporting its expanding hospitality plans[5] - The company plans to expand its direct-to-consumer strategy by collaborating with another store in Fujian by the end of August 2025, marking it as the second key market after Shanxi[6] - The company is committed to accelerating digital investment, particularly on popular social media platforms like Xiaohongshu, to promote its wine products[5] - The company aims to deepen customer connections and enhance brand loyalty through the expansion of retail points and upgraded facilities[6] - The company has successfully hosted multiple corporate events at its upgraded winery, leveraging its prime location in a popular tourist province[5] - The company is focused on optimizing its hospitality plans and targeted marketing strategies to establish a solid foundation for sustainable growth[6] Shareholder and Market Commitment - The company emphasizes its commitment to providing long-term value to shareholders despite ongoing market competition[6] - The company acknowledges the continued trust and support from shareholders, customers, and partners[7] Financial Position - As of June 30, 2025, total non-current assets amounted to RMB 64,833,000, compared to RMB 170,181,000 as of December 31, 2024, reflecting a significant decrease[12] - Current assets totaled RMB 134,852,000, down from RMB 148,380,000 in the previous year, indicating a decline of approximately 9.1%[12] - Total liabilities decreased to RMB 28,818,000 from RMB 32,171,000, representing a reduction of about 10.5% year-over-year[13] - The company's net asset value stood at RMB 170,867,000, down from RMB 226,132,000, marking a decline of approximately 24.5%[13] - The total equity decreased to RMB 170,867,000 from RMB 226,132,000, reflecting a decline of approximately 24.5%[13] - Cash and cash equivalents were reported at RMB 34,460,000, slightly down from RMB 34,488,000, indicating a marginal decrease[12] - The company’s inventory decreased to RMB 91,593,000 from RMB 99,240,000, representing a decline of about 7.7%[12] - The company’s trade payables decreased significantly to RMB 15,000 from RMB 1,258,000, indicating a substantial reduction[12] Cash Flow and Financing - Operating cash flow for the six months ended June 30, 2025, was a net outflow of RMB 4,453,000, compared to a net outflow of RMB 10,566,000 for the same period in 2024[15] - Cash inflow from the sale of subsidiaries amounted to RMB 62,219,000, with an additional RMB 35,323,000 from the partial sale of subsidiary interests[15] - Total cash flow from investing activities showed a net inflow of RMB 93,592,000, contrasting with a net outflow of RMB 8,548,000 in the previous year[15] - New bank loans raised during the period were RMB 10,925,000, while repayments of bank loans totaled RMB 2,100,000[15] - The company reported a decrease in cash and cash equivalents of RMB 338,000, compared to a decrease of RMB 10,364,000 in the prior year[15] - The cash and cash equivalents at the beginning of the period were RMB 34,488,000, compared to RMB 41,870,000 at the same time last year[15] - The ending cash and cash equivalents stood at RMB 34,460,000, up from RMB 31,555,000 in the previous year[15] Discontinued Operations - The company agreed to sell Pacific Surplus Limited and its subsidiaries for a total consideration of HKD 71.28 million, which is approximately RMB 61.1 million[33] - The sale of discontinued operations generated a profit of RMB 2,458,000 for the six months ended June 30, 2025, compared to a loss of RMB 835,000 for the same period in 2024[35] - The total revenue from discontinued operations for the six months ended June 30, 2025, was RMB 159,000, down from RMB 3,408,000 in 2024[35] Employee and Governance - The company reported total employee compensation expenses of RMB 917,000 for the six months ended June 30, 2025, slightly down from RMB 928,000 in the same period of 2024[66] - The company has a share option plan effective from June 1, 2018, to incentivize employees and contributors to the group's success[48] - The company currently has two independent non-executive directors, failing to meet the requirement of at least three as per GEM listing rules, and is actively seeking suitable candidates[102] - The audit committee, consisting of two independent non-executive directors and one non-executive director, has been established and has reviewed the unaudited financial results for the six months ending June 30, 2025[103] Compliance and Reporting - The financial data is prepared in accordance with Hong Kong Financial Reporting Standards and is unaudited[17] - The company has adopted revised accounting standards effective from January 1, 2025, which did not impact its financial position or performance[19] - The announcement will be published on the Hong Kong Stock Exchange website for at least seven days from the date of the announcement[104] - The announcement will also be available on the company's website www.gracewine.com.hk[104]
怡园酒业(08146) - 2025 - 中期业绩