Financial Performance - Revenue for the six months ended June 30, 2025, was RMB 17,144,000, a decrease of 44.3% compared to RMB 30,772,000 for the same period in 2024[3] - The company reported a loss of RMB 7,708,000 for the six months ended June 30, 2025, an improvement of RMB 8,884,000 compared to a loss of RMB 16,592,000 in 2024[3] - Basic loss per share for the six months ended June 30, 2025, was RMB (2.70), an improvement from RMB (7.73) in the same period of 2024[4] - Gross profit for the six months ended June 30, 2025, was RMB 6,156,000, down from RMB 10,903,000 in 2024[4] - The group reported a total revenue of RMB 17,144,000 for the six months ended June 30, 2025, a decrease of 44% compared to RMB 30,772,000 for the same period in 2024[22] - The group recorded a pre-tax loss of RMB 7,708,000 for the six months ended June 30, 2025, compared to a loss of RMB 16,487,000 in the same period of 2024[16] - The company's net loss for the first half of 2025 was approximately RMB 7,700,000, a decrease of about RMB 8,900,000 compared to a net loss of approximately RMB 16,600,000 in the first half of 2024[56] Revenue Breakdown - Revenue from the marble slag segment was RMB 7,810,000, down 72% from RMB 27,676,000 in the previous year[16] - Revenue from the food brand segment increased to RMB 9,334,000, up 201% from RMB 3,096,000 in 2024[16] - The company's marble slag sales decreased by approximately 71.8% from about RMB 27,700,000 in the first half of 2024 to about RMB 7,800,000 in the first half of 2025[47] - Food sales increased by approximately 201.5% from about RMB 3,100,000 in the first half of 2024 to about RMB 9,300,000 in the first half of 2025[48] Assets and Liabilities - The company's cash and cash equivalents increased to RMB 18,865,000 as of June 30, 2025, compared to RMB 8,551,000 at the end of 2024[5] - Total assets less current liabilities amounted to RMB 87,326,000 as of June 30, 2025, compared to RMB 80,325,000 at the end of 2024[5] - Total assets as of June 30, 2025, were RMB 146,098,000, an increase from RMB 135,056,000 as of December 31, 2024[18] - Total liabilities increased to RMB 62,782,000 as of June 30, 2025, compared to RMB 58,859,000 at the end of 2024[18] - The company’s current liabilities exceeded current assets by RMB 4,890,000 as of June 30, 2025[10] Equity and Capital Structure - The company’s total equity increased to RMB 83,316,000 as of June 30, 2025, compared to RMB 76,197,000 at the end of 2024[5] - Total equity increased by approximately RMB 7,100,000 or 9.3% from about RMB 76,200,000 as of December 31, 2024, to about RMB 83,300,000 as of June 30, 2025[57] - The debt-to-equity ratio is approximately 0.13, down from 0.17 as of December 31, 2024[59] - The company’s capital structure underwent a significant change with a share consolidation and reduction, resulting in an increase in the number of shares issued to 338,095,000 as of June 30, 2025[37] Cash Flow and Funding - The group has sufficient operating funds to meet its operational needs and financial obligations for the next twelve months[11] - The company plans to raise approximately HKD 20,400,000 to HKD 21,200,000 through a rights issue at a subscription price of HKD 0.2 per share[10] - The company raised approximately HKD 16,630,000 from a rights issue, with net proceeds of about HKD 15,430,000 allocated for general working capital and potential investment opportunities[68] - The company plans to use approximately HKD 10,940,000 of the net proceeds for general operational expenses, including employee costs and rent[68] Operational Efficiency - The company recorded a decrease in trade receivables from RMB 20,564,000 in 2024 to RMB 5,833,000 in 2025[5] - Trade receivables as of June 30, 2025, amounted to RMB 5,833,000, a decrease from RMB 20,564,000 as of December 31, 2024, reflecting improved collection efficiency[35] - Trade payables decreased to RMB 3,403,000 as of June 30, 2025, down from RMB 7,415,000 as of December 31, 2024, indicating better cash flow management[36] - Cost of goods sold increased significantly to RMB 5,568,000 in the first half of 2025 from RMB 1,714,000 in the same period of 2024, indicating a substantial rise in operational costs[31] Strategic Initiatives - The company plans to discontinue its exclusive sales agreement with a major customer after December 2024 to mitigate risks associated with over-reliance on a single client[42] - The company resumed mining operations at the Zhangjiaba Mine in May 2025 after receiving the necessary approvals, following delays due to equipment removal and the Lunar New Year holiday[42] - The company has signed a three-year mining contract and multiple non-exclusive sales agreements for various marble products, indicating ongoing market expansion efforts[43] - The company will continue to strengthen production and operations while expanding its customer base to enhance business performance[70] Compliance and Governance - The group applied new and revised International Financial Reporting Standards effective from January 1, 2025, with no significant impact on the financial statements[12] - The group has not applied any new or revised International Financial Reporting Standards that have been issued but are not yet effective during the accounting period[13] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results for the first half of 2025 and recommended their adoption by the board[75] - The company has adopted the standard code of conduct for securities trading as per Appendix C3 of the listing rules, confirming compliance by all directors during the first half of 2025[74] Miscellaneous - The company does not recommend any dividend payments for the periods ended June 30, 2025, and 2024, reflecting a focus on retaining earnings for operational needs[34] - The company has no significant contingent liabilities as of June 30, 2025[65] - The company has no major capital commitments as of June 30, 2025[64] - The company has not experienced any significant changes in business development or financial condition since the publication of its annual report for the year ended December 31, 2024[69] - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the six months ending June 30, 2025[76] - The company will publish its interim report containing all required information on the Hong Kong Stock Exchange and its website at an appropriate time[77] - The board acknowledges a non-compliance situation regarding attendance at the annual general meeting, emphasizing the importance of attendance for committee chairs and members[72]
中国金石(01380) - 2025 - 中期业绩