江山控股(00295) - 2025 - 中期业绩

Financial Statements Condensed Consolidated Statement of Profit or Loss For the six months ended June 30, 2025, the Group's revenue decreased by 29.7% to 160,979 thousand RMB, but loss for the period significantly narrowed by 92.0% to 14,626 thousand RMB, primarily due to reduced administrative and finance costs, improving loss per share to 0.08 RMB cents. Key Data from Condensed Consolidated Statement of Profit or Loss | Metric | Six Months Ended June 30, 2025 (thousand RMB) | Six Months Ended June 30, 2024 (thousand RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 160,979 | 229,087 | -29.7% | | Cost of sales | (73,658) | (110,537) | -33.4% | | Gross profit | 87,321 | 118,550 | -26.3% | | Other gains/(losses) – net | 10,364 | (2,687) | N/A | | Administrative expenses | (34,856) | (177,210) | -80.3% | | Finance costs | (47,777) | (58,039) | -17.7% | | Loss for the period | (14,626) | (182,664) | -92.0% | | Loss for the period attributable to owners of the Company | (11,874) | (163,727) | -92.7% | | Basic and diluted loss per share (RMB cents) | (0.08) | (1.09) | -92.7% | Condensed Consolidated Statement of Comprehensive Income For the six months ended June 30, 2025, the Group's total comprehensive income turned from a loss of 155,643 thousand RMB to a gain of 48,548 thousand RMB, driven by fair value changes in financial assets and increased exchange differences. Key Data from Condensed Consolidated Statement of Comprehensive Income | Metric | Six Months Ended June 30, 2025 (thousand RMB) | Six Months Ended June 30, 2024 (thousand RMB) | | :--- | :--- | :--- | | Loss for the period | (11,874) | (163,727) | | Net fair value change of financial assets measured at fair value through other comprehensive income | 17,398 | (20,609) | | Exchange differences on translation of financial statements of overseas operations | 43,024 | 28,693 | | Other comprehensive income for the period (net of tax) | 60,422 | 8,084 | | Total comprehensive income for the period | 48,548 | (155,643) | | Total comprehensive income for the period attributable to owners of the Company | 51,300 | (136,706) | Condensed Consolidated Statement of Financial Position As at June 30, 2025, the Group's total assets less current liabilities decreased to 3,190,476 thousand RMB, while net assets increased to 2,380,089 thousand RMB, with shifts in non-current and current asset components. Key Data from Condensed Consolidated Statement of Financial Position | Metric | As at June 30, 2025 (thousand RMB) | As at December 31, 2024 (thousand RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current assets | | | | | Solar power plants | 1,347,799 | 1,397,635 | -3.6% | | Financial assets measured at fair value through other comprehensive income | 434,415 | 559,211 | -22.3% | | Total non-current assets | 2,370,037 | 2,565,118 | -7.6% | | Current assets | | | | | Trade and other receivables | 2,023,709 | 1,989,400 | +1.7% | | Cash and cash equivalents | 53,059 | 76,705 | -30.8% | | Total current assets | 2,237,337 | 2,203,088 | +1.6% | | Current liabilities | | | | | Trade and other payables | 421,773 | 470,319 | -10.3% | | Loans and borrowings | 963,573 | 967,383 | -0.4% | | Total current liabilities | 1,416,898 | 1,479,014 | -4.2% | | Non-current liabilities | | | | | Loans and borrowings | 717,644 | 846,661 | -15.3% | | Total non-current liabilities | 810,387 | 951,603 | -14.8% | | Net assets | 2,380,089 | 2,337,589 | +1.8% | | Total equity | 2,380,089 | 2,337,589 | +1.8% | Notes to the Condensed Consolidated Interim Financial Statements 1. Basis of Preparation The condensed consolidated interim financial information was prepared under HKAS 34 and authorized for issue on August 25, 2025, reviewed by the audit committee and approved by the board, but not audited. - Interim financial information was prepared under Hong Kong Accounting Standard 34 and authorized for issue on August 25, 2025[11] - This report was not audited by the auditor but was reviewed by the audit committee and approved by the board of directors[12] 2. Significant Accounting Policies The Group's accounting policies are consistent with the 2024 annual report, with new standards adopted having no material impact on the current financial statements. - Accounting policies are consistent with the 2024 annual report, except for the adoption of new standards[13] - The adoption of Hong Kong Accounting Standard 21 (Revised) "Lack of Exchangeability" has no material impact on the current financial statements[13] - Several new or revised Hong Kong Financial Reporting Standards have been issued but are not yet effective, and the Group cannot yet determine if they will lead to significant changes[14] 3. Revenue For the six months ended June 30, 2025, total revenue decreased by 29.7% to 160,979 thousand RMB, primarily due to the cessation of solar power plant operation and maintenance services and health management services after business disposals. Revenue Breakdown by Category | Revenue Category | Six Months Ended June 30, 2025 (thousand RMB) | Six Months Ended June 30, 2024 (thousand RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Electricity sales | 104,255 | 130,030 | -19.8% | | Interest income from provision of financial services | 56,724 | 55,837 | +1.6% | | Provision of solar power plant operation and maintenance services | – | 37,871 | -100% | | Health management services | – | 5,349 | -100% | | Total Revenue | 160,979 | 229,087 | -29.7% | - Electricity sales revenue includes renewable energy subsidies of approximately 66,129 thousand RMB (prior period 2024: 84,889 thousand RMB)[17] 4. Other Gains/(Losses) – Net For the six months ended June 30, 2025, the Group recorded net other gains of 10,364 thousand RMB, a significant improvement from a loss of 2,687 thousand RMB in the prior period, mainly due to increased property rental income and reduced rectification expenses. Other Gains/(Losses) – Net Breakdown | Metric | Six Months Ended June 30, 2025 (thousand RMB) | Six Months Ended June 30, 2024 (thousand RMB) | | :--- | :--- | :--- | | Interest income | 6,392 | 6,788 | | Net exchange (losses)/gains | (3,458) | 1,903 | | Property rental income | 6,171 | – | | Solar power plant rectification expenses | – | (10,932) | | Others | 1,259 | (446) | | Total | 10,364 | (2,687) | 5. Finance Costs For the six months ended June