帝欧水华(002798) - 2025 Q2 - 季度财报

Important Notes, Table of Contents, and Definitions This section provides crucial disclaimers, the report's full directory, and definitions of key terms for clarity Important Notes The Board of Directors, Supervisory Committee, and senior management guarantee the accuracy and completeness of the semi-annual report, assuming legal responsibility - The company's Board of Directors, Supervisory Committee, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content, assuming legal responsibility[4] - Company head Zhu Jiang, chief financial officer Cai Jun, and head of accounting department Wu Yunlin declare the financial report is true, accurate, and complete[4] - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for this reporting period[6] Table of Contents This section lists the complete report structure, covering all key information from important notes to financial statements - The report comprises nine main chapters, covering comprehensive information on company operations, finance, governance, and significant matters[9] Definitions This section defines common terms used in the report, ensuring accurate understanding of its content - The company's main business units include the Tile Business Unit, Bathroom Business Unit, and New Materials Business Unit, responsible for R&D, production, and sales of Ounuo tiles, Diou bathroom products, and acrylic products, respectively[12] - The report defines various product types, such as "China Jade" referring to Ounuo's comprehensive ceramic products with jade designs, "Slab" referring to ultra-large high-tech new materials, and "Smart Toilet" referring to toilets with warm water washing and other functions[12][13] Company Profile and Key Financial Indicators This section provides an overview of the company's basic information, contact details, and key financial performance metrics Company Profile Diou Home Group Co, Ltd, stock code 002798, is listed on the Shenzhen Stock Exchange, with Zhu Jiang as its legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Diou Home | | Stock Code | 002798 | | Stock Exchange | Shenzhen Stock Exchange | | Company Chinese Name | 帝欧家居集团股份有限公司 | | Legal Representative | Zhu Jiang | Contact Persons and Methods This section provides contact information for the company's Board Secretary and Securities Affairs Representative for investor communication - The Board Secretary is Dai Yu, and the Securities Affairs Representative is Luo Xue, both located at 15th Floor, Block A, New Hope International Building, No 19, Tianfu Third Street, Tianfu Avenue Middle Section, High-tech Zone, Chengdu, Sichuan Province[16] Other Information The company's registered address, office address, website, email, and information disclosure locations remained unchanged during the reporting period - The company's contact information, information disclosure, and filing locations remained unchanged during the reporting period, as detailed in the 2024 annual report[17][18] Key Accounting Data and Financial Indicators In H1 2025, revenue decreased by 15.35% to CNY 1.176 billion, net loss attributable to shareholders widened to CNY -84.32 million, while operating cash flow significantly increased by 1438.90% Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Reporting Period (CNY) | Prior Year Period (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,176,202,056.12 | 1,389,566,845.35 | -15.35% | | Net Profit Attributable to Shareholders of Listed Company | -84,323,742.68 | -55,065,431.32 | -53.13% | | Net Cash Flow from Operating Activities | 98,087,238.83 | 6,373,849.83 | 1,438.90% | | Basic Earnings Per Share | -0.2267 | -0.1504 | -50.73% | | Total Assets (End of Period) | 5,713,019,122.81 | 5,892,712,569.49 | -3.05% | | Net Assets Attributable to Shareholders of Listed Company (End of Period) | 1,617,464,049.49 | 1,630,698,274.85 | -0.81% | Differences in Accounting Data under Domestic and Overseas Accounting Standards The company reported no differences in net profit and net assets between international/overseas and Chinese accounting standards - The company reported no differences in net profit and net assets between financial reports disclosed under International Accounting Standards and Chinese Accounting Standards for the reporting period[21] - The company reported no differences in net profit and net assets between financial reports disclosed under overseas accounting standards and Chinese Accounting Standards for the reporting period[22] Non-Recurring Gains and Losses and Amounts Non-recurring gains and losses totaled CNY 6.743 million, primarily from government subsidies and financial asset investment dividends, with VAT refunds classified as recurring Non-Recurring Gains and Losses and Amounts for H1 2025 | Item | Amount (CNY) | Explanation | | :--- | :--- | :--- | | Gains or losses from disposal of non-current assets | -327,199.02 | Primarily losses from disposal of fixed assets | | Government subsidies recognized in current profit or loss | 4,194,288.81 | See "Notes to Consolidated Financial Statements - Other Income" for government subsidies | | Gains or losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains or losses from disposal of financial assets and liabilities | 1,317,818.31 | Primarily dividends from the company's equity investment in Mag Home | | Reversal of impairment provisions for accounts receivable subject to separate impairment testing | 4,533,957.55 | Due to recovery of accounts receivable or debt settlement, reversal of impairment provisions exceeding the receivable amount | | Gains or losses from debt restructuring | -757,038.45 | Primarily losses from debt restructuring involving property-for-debt | | Other non-operating income and expenses apart from the above | -1,027,556.92 | | | Less: Income tax impact | 1,191,246.93 | | | Total | 6,743,023.35 | | - The company classifies VAT refunds of CNY 10.8033 million as recurring gains and losses, citing their relation to daily operations and continuous nature[25] Management Discussion and Analysis This section analyzes the company's business operations, financial performance, core competitiveness, and risk management strategies during the reporting period Main Business Activities during the Reporting Period The company maintained its core business in bathroom and ceramic products, adapting to market changes through strategic optimizations and AI integration, while experiencing a change in actual control Industry Development In H1 2025, real estate investment declined by 11.2%, and new home sales decreased by 3.5%, intensifying competition in the transitioning home furnishing and building materials sector - In H1 2025, national real estate development investment decreased by 11.2% year-on-year, and new commercial housing sales area decreased by 3.5% year-on-year[27] - The home furnishing and building materials industry continues to face insufficient effective demand and intensified competition due to real estate market adjustments and the macroeconomic environment[27] - The industry is transforming towards service-oriented, intelligent, and green development to adapt to consumption trends and the intelligent technology revolution[27] Company's Position The company is a pioneer in China's bathroom manufacturing, contributing to industry standards, and its subsidiary Ounuo leads in ceramic R&D with over 200 core patents - The company is one of China's earliest bathroom product manufacturers, participating in drafting industry and national standards such as "Non-Ceramic Sanitary Ware," demonstrating leading R&D capabilities[28] - Subsidiary Ounuo is a vice-chairman unit of the China Building Sanitary Ceramics Association, boasts a national postdoctoral research workstation and CNAS-certified laboratory, and holds over 200 core ceramic tile patents, placing its innovation and R&D capabilities