Financial Performance - Revenue for the six months ended June 30, 2025, was RMB 439,316 thousand, representing a 33.3% increase from RMB 329,678 thousand in the same period of 2024[5] - Gross profit for the same period was RMB 147,224 thousand, up 39.4% from RMB 105,624 thousand year-on-year[5] - Net profit for the six months ended June 30, 2025, was RMB 30,535 thousand, an increase of 23.5% compared to RMB 24,763 thousand in 2024[5] - Basic and diluted earnings per share for the period were RMB 3.46, compared to RMB 3.30 in the previous year, reflecting a 4.8% increase[5] - Total revenue for the six months ended June 30, 2025, was RMB 439,316,000, representing a 33.3% increase from RMB 329,678,000 in the same period of 2024[16] - Revenue from disposable hygiene products and non-woven fabric sales increased to RMB 389,865,000, up 34.3% from RMB 290,264,000 in the previous year[18] - Major customer A contributed RMB 189,280,000 to revenue, a significant increase of 65.5% compared to RMB 114,392,000 in the prior period[18] - The company reported a net profit before tax of RMB 6,312,000 for the six months ended June 30, 2025, compared to RMB 5,874,000 for the same period in 2024[24] - The profit attributable to the company's owners for the six months ended June 30, 2025, was RMB 30,535,000, compared to RMB 24,763,000 for the same period in 2024, representing a year-over-year increase of approximately 23.4%[27] - The company's profit for the same period rose by approximately RMB 5.7 million or 23.0% to about RMB 30.5 million, up from approximately RMB 24.8 million in the previous period[69] Assets and Liabilities - Total assets as of June 30, 2025, amounted to RMB 1,147,834 thousand, compared to RMB 590,742 thousand as of December 31, 2024, indicating a significant growth[6] - Current assets increased to RMB 461,879 thousand from RMB 302,444 thousand, marking a 52.8% rise[6] - The company's cash and cash equivalents rose to RMB 165,380 thousand, up from RMB 26,698 thousand, a substantial increase of 519.5%[6] - Total equity increased to RMB 478,197 thousand as of June 30, 2025, compared to RMB 345,511 thousand at the end of 2024, reflecting a growth of 38.4%[7] - The company’s total liabilities as of June 30, 2025, were RMB 221,675,000, compared to RMB 191,095,000 as of December 31, 2024, indicating an increase of 16%[41] - Trade receivables (net of impairment) decreased to RMB 107,704,000 as of June 30, 2025, from RMB 145,463,000 as of December 31, 2024, reflecting a decline of approximately 26%[32] - As of June 30, 2025, trade payables amounted to RMB 42,335,000, a decrease of 30.8% from RMB 61,184,000 as of December 31, 2024[41] - Interest-bearing loans decreased slightly to RMB 32,000,000 as of June 30, 2025, from RMB 33,000,000 as of December 31, 2024[50] Operational Highlights - The company is focused on expanding its market presence in China, particularly in the production and sales of disposable hygiene products and non-woven fabrics[8] - The group has only one operating and reportable segment, focusing on the production and sales of disposable hygiene products and non-woven fabrics[14] - The company plans to add two new baby care production lines and one non-woven fabric production line by 2025, enhancing manufacturing capacity[72] - The company’s strong supply chain and vertically integrated operations provide necessary flexibility to respond to market changes[74] - Contract manufacturing revenue increased by approximately RMB 80.4 million or 43.6% to about RMB 264.8 million, driven by increased demand in the Russian market[71] - Brand products revenue grew by approximately RMB 19.5 million or 18.4% to about RMB 125.4 million, reflecting strong online sales and the successful launch of a new women's hygiene product[76] Expenses and Costs - Research and development expenses for the six months ended June 30, 2025, were RMB 11,871,000, slightly up from RMB 11,704,000 in the previous year[23] - Sales and distribution expenses surged by approximately RMB 36.7 million or 76.6% to about RMB 84.6 million, largely due to increased online sales and promotional activities[78] - Administrative and other operating expenses increased by approximately RMB 4.6 million or 23.4% to about RMB 24.3 million, mainly due to a significant rise in consulting fees[80] - Financial costs increased by approximately RMB 0.5 million or 166.7% to about RMB 0.8 million, primarily due to an increase in the average balance of interest-bearing borrowings[82] - Income tax expenses increased by approximately RMB 0.4 million or 6.8% to about RMB 6.3 million, with the effective tax rate decreasing from approximately 19.2% to 17.1%[83] Cash Flow and Investments - The company has committed capital expenditures of RMB 14,670,000 as of June 30, 2025, down from RMB 20,972,000 as of December 31, 2024[66] - The company has future minimum lease payments receivable of RMB 793,000 as of June 30, 2025, compared to RMB 292,000 as of December 31, 2024[67] - The net proceeds from the global offering amounted to approximately HKD 85.1 million, with all funds remaining unutilized as of June 30, 2025[100] - The planned use of proceeds includes purchasing machinery for production lines, totaling HKD 24,860 thousand for infant care and women's care products, and HKD 22,136 thousand for non-woven fabric production lines[101] Governance and Compliance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2025[110] - The company has complied with the corporate governance code and relevant regulations since the listing date[109] - All resolutions at the 2025 Annual General Meeting were passed by voting, with results published on the stock exchange and the company's website[104]
舒宝国际(02569) - 2025 - 中期业绩