水发兴业新材料(08073) - 2025 - 中期业绩

Introduction Company Information and GEM Characteristics This announcement by China Shuifa Xingye New Materials Holding Co., Ltd. discloses the unaudited interim results for the six months ended June 30, 2025, with the company listed on the GEM board, which targets small and medium-sized companies and carries higher investment risks and market volatility - The company is China Shuifa Xingye New Materials Holding Co., Ltd., stock code 8073, incorporated in Bermuda[2] - The GEM market provides a listing platform for small and medium-sized companies, entailing higher investment risks and potential for significant market volatility[2] Interim Results Announcement The Board is pleased to announce the unaudited consolidated interim results of the Company and its subsidiaries for the six months ended June 30, 2025 - The announcement covers the unaudited consolidated interim results for the six months ended June 30, 2025[3] Financial Highlights Key Financial Indicators For the six months ended June 30, 2025, the company's revenue increased by 28.0%, gross profit by 37.9%, profit before tax by 88.2%, and profit for the period by 48.9%, with improvements in both gross profit margin and net profit margin Six-Month Financial Summary | Indicator | 2025 (RMB thousands) | 2022 (RMB thousands) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 70,281 | 54,923 | +28.0% | | Gross Profit | 29,098 | 21,094 | +37.9% | | Profit Before Tax | 11,976 | 6,364 | +88.2% | | Profit for the Period | 8,882 | 5,965 | +48.9% | | Gross Profit Margin | 41.4% | 38.4% | +3.0pp | | Net Profit Margin | 12.6% | 10.9% | +1.7pp | | Earnings Per Share – Basic and Diluted | RMB 0.016 | RMB 0.013 | +23.1% | Condensed Consolidated Statement of Comprehensive Income Statement of Comprehensive Income Details For the six months ended June 30, 2025, the company's revenue was RMB 70,281 thousands, cost of sales was RMB 41,183 thousands, and gross profit was RMB 29,098 thousands, with other income, gains and losses significantly increasing and income tax expense significantly rising Condensed Consolidated Statement of Comprehensive Income (For the six months ended June 30) | Indicator | 2025 (RMB thousands) | 2022 (RMB thousands) | | :--- | :--- | :--- | | Revenue | 70,281 | 54,923 | | Cost of Sales | (41,183) | (33,829) | | Gross Profit | 29,098 | 21,094 | | Other Income, Gains and Losses | 2,030 | 1,016 | | Selling and Distribution Expenses | (2,059) | (2,007) | | Administrative Expenses | (12,506) | (10,207) | | Finance Costs | (489) | (1,006) | | Impairment Loss on Trade Receivables | (4,098) | (2,526) | | Profit Before Tax | 11,976 | 6,364 | | Income Tax Expense | (3,094) | (399) | | Profit for the Period | 8,882 | 5,965 | | Total Comprehensive Income for the Period | 9,583 | 6,915 | - Profit attributable to owners of the Company increased from RMB 6.725 million in 2024 to RMB 8.359 million in 2025[8] Earnings Per Share For the six months ended June 30, 2025, basic and diluted earnings per share were RMB 0.016, an increase from RMB 0.013 in the prior year period Earnings Per Share (For the six months ended June 30) | Indicator | 2025 | 2022 | | :--- | :--- | :--- | | Basic and Diluted Earnings Per Share | RMB 0.016 | RMB 0.013 | Condensed Consolidated Statement of Financial Position Statement of Financial Position Details As of June 30, 2025, the company's total non-current assets slightly decreased, total current assets remained stable, and total current liabilities decreased, leading to an increase in both net current assets and total assets less current liabilities, with total equity growing to RMB 183,703 thousands Condensed Consolidated Statement of Financial Position (As of June 30) | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Non-Current Assets | | | | Property, Plant and Equipment | 60,058 | 61,622 | | Total Non-Current Assets | 84,900 | 85,286 | | Current Assets | | | | Inventories | 29,461 | 25,620 | | Trade and Bills Receivables | 86,516 | 70,906 | | Cash and Cash Equivalents | 6,625 | 49,969 | | Total Current Assets | 172,597 | 172,050 | | Current Liabilities | | | | Trade Payables | 37,851 | 26,432 | | Short-Term Borrowings | 5,000 | 30,000 | | Total Current Liabilities | 72,430 | 80,871 | | Net Current Assets | 100,167 | 91,179 | | Total Assets Less Current Liabilities | 185,067 | 176,465 | | Total Equity | 183,703 | 173,262 | Notes to the Financial Statements Basis of Presentation The condensed consolidated financial statements are prepared in accordance with International Accounting Standard 34 and the GEM Listing Rules, adopting the going concern basis of accounting - The financial statements are prepared in accordance with International Accounting Standard 34 and the GEM Listing Rules, adopting the going concern basis of accounting[13] Accounting Policies The condensed consolidated financial statements are prepared on a historical cost basis, with certain equity investments and financial assets measured at fair value and presented in RMB, and the first-time application of IFRS amendments had no significant impact this period - The financial statements are prepared on a historical cost basis, with certain assets measured at fair value, and presented in RMB[14] - First-time application of amendments to International Financial Reporting Standards (IAS 21 amendments) had no significant impact on financial position and performance[15] Revenue and Segment Information The Group's revenue primarily derives from the sale of ITO conductive films, smart dimming products, and LED display and projection systems, considered a single reportable segment, with smart dimming product sales revenue significantly increasing by 39.5% while ITO conductive film sales revenue decreased by 11.0% - The Group's main business is the sale of ITO conductive films, smart dimming products, and LED display and projection systems, considered a single operating segment[16] Classified Revenue Information (For the six months ended June 30) | Category of Goods or Services | 2025 (RMB thousands) | 2022 (RMB thousands) | YoY Change | | :--- | :--- | :--- | :--- | | Sale of ITO Conductive Films | 8,101 | 9,062 | -11.0% | | Sale and Installation of Smart Dimming Products | 55,780 | 39,966 | +39.5% | | Sale of Other Products | 6,400 | 5,895 | +8.6% | | Total Revenue from Customer Contracts | 70,281 | 54,923 | +28.0% | Income Tax Expense For the six months ended June 30, 2025, income tax expense significantly increased to RMB 3,094 thousands, primarily due to the recognition of current tax in Mainland China Income Tax Expense (For the six months ended June 30) | Indicator | 2025 (RMB thousands) | 2022 (RMB thousands) | | :--- | :--- | :--- | | Current Tax – Mainland China | 3,065 | – | | Deferred Tax | 29 | 399 | | Total Income Tax Expense | 3,094 | 399 | Dividend Policy The Board does not recommend paying any interim dividend for the six months ended June 30, 2025, consistent with the same period last year - The Board does not recommend paying an interim dividend for the six months ended June 30, 2025 (2024: nil)[19] [Earnings