Financial Performance - For the six months ended June 30, 2025, the company reported revenue of RMB 9,105,000, a decrease of 64.5% compared to RMB 25,695,000 for the same period in 2024[4] - The gross profit for the same period was RMB 1,956,000, down 79.3% from RMB 9,465,000 in 2024[4] - The company incurred a net loss of RMB 6,043,000 for the six months ended June 30, 2025, compared to a profit of RMB 1,013,000 in the previous year[5] - The basic and diluted loss per share for the period was RMB (1.05), compared to a profit of RMB 0.19 per share in 2024[5] - The company reported a net loss of RMB 6,043,000 for the six months ended June 30, 2025, compared to a profit of RMB 1,059,000 for the same period in 2024[8] - Other comprehensive income for the period included a foreign exchange loss of RMB 78,000, contributing to a total comprehensive loss of RMB 6,121,000[8] - The company reported a loss before tax of RMB 6,043 thousand for the first half of 2025, a decline from a profit of RMB 1,059 thousand in the same period of 2024[27] - The group recorded a loss attributable to equity holders of approximately RMB 6.0 million for the six months ended June 30, 2025, compared to a profit of approximately RMB 1.1 million in the same period of 2024[51] Assets and Liabilities - Total assets as of June 30, 2025, were RMB 410,657,000, slightly down from RMB 410,856,000 as of December 31, 2024[6] - Current liabilities increased to RMB 109,718,000 from RMB 103,289,000 in the previous period[6] - The company's net asset value decreased to RMB 292,500,000 from RMB 304,169,000[6] - The company reported a total equity of RMB 300,894,000, down from RMB 307,015,000[7] - As of June 30, 2025, the total equity attributable to owners is RMB 300,894,000, a decrease from RMB 307,662,000 as of January 1, 2025, reflecting a decline of approximately 2.5%[8] - The group’s total liabilities related to lease liabilities were zero as of June 30, 2025, consistent with the same period in 2024[29] - Total liabilities as of June 30, 2025, amounted to RMB 109,763 thousand, an increase from RMB 103,841 thousand as of December 31, 2024, representing a growth of approximately 5.5%[18] Revenue Breakdown - Revenue from script rights and program sales was RMB 8,700,000 for the six months ended June 30, 2025, down from RMB 22,900,000 in 2024, a decrease of about 61.9%[14] - Concert and event income decreased to RMB 188,000 in 2025 from RMB 2,226,000 in 2024, reflecting a decline of approximately 91.6%[15] - The mobile application development and operation segment generated RMB 217,000 in revenue for the six months ended June 30, 2025, compared to RMB 185,000 in 2024, indicating an increase of about 17.3%[16] - The group recorded revenue of approximately RMB 8.7 million from program production and related services for the six months ended June 30, 2025, down from RMB 22.9 million in the same period last year[54] - Revenue from concert and event planning was approximately RMB 0.2 million, a significant decrease from RMB 2.2 million in the previous year due to no concerts being held during the reporting period[55] Expenses and Costs - Employee costs increased to RMB 5,397 thousand in the first half of 2025, up from RMB 4,545 thousand in the same period of 2024, reflecting a rise of approximately 18.7%[24] - Administrative expenses for the six months ended June 30, 2025, were approximately RMB 8.1 million, slightly down from RMB 8.2 million in the same period of 2024[48] - Interest expenses on bank loans decreased to RMB 233 thousand in the first half of 2025 from RMB 289 thousand in the same period of 2024[24] - The company incurred interest expenses of RMB (263,000) for the six months ended June 30, 2025, compared to RMB (341,000) in 2024, showing a reduction in interest costs[15] Investments and Capital Expenditures - The group acquired approximately RMB 948,000 in property, plant, and equipment for the six months ended June 30, 2025, compared to RMB 2,177,000 for the same period in 2024[28] - The group made significant investments in the development and operation of mobile applications, believing these businesses have great potential due to rapid internet platform development and huge demand in the entertainment sector[66] - The group purchased approximately RMB 5,724,000 in intangible assets for the six months ended June 30, 2025, compared to none for the same period in 2024[30] - The group incurred capital expenditures of approximately RMB 948,000 for new properties, plants, and equipment for the six months ended June 30, 2025, compared to approximately RMB 2,177,000 for the same period in 2024[70] Market and Strategic Outlook - The group plans to explore more concert and event opportunities in different regions in the future[57] - The group is actively collaborating with Chinese television production companies to enhance its resource pool for potential television and film projects[54] - The group aims to expand its customer base to mitigate risks associated with reliance on a limited number of clients, with the largest client accounting for approximately 95.6% of total revenue[63] - The group is facing intense competition in the television content production market, with increasing pressure on pricing from television clients[64] - The group is closely monitoring market changes and operational performance in response to the competitive landscape in the event planning industry[67] - The group is aware of the uncertainties in market demand for new business ventures and the need for continuous resource investment to attract and retain customer loyalty[67] Governance and Compliance - The board has adopted the corporate governance code as per GEM Listing Rules Appendix C1, ensuring compliance until June 30, 2025, with certain deviations noted[79] - The board believes that the operation of a well-experienced board ensures a balance of power and responsibility, with regular reviews of the need for separate roles of Chairman and CEO[80] - The company does not currently have an internal audit function, as it deems it unnecessary given the scale and complexity of its operations, with the board directly responsible for internal controls[81] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated results for the six months ending June 30, 2025, and found them compliant with applicable accounting standards and GEM Listing Rules[83]
中国创意控股(08368) - 2025 - 中期业绩