Financial Performance - The Group recorded a turnover of approximately RMB 60,990,000 for the six months ended 30 June 2025, representing a decrease of approximately 28% compared to RMB 84,162,000 for the corresponding period in 2024[8]. - Profit attributable to owners of the Company for the six months ended 30 June 2025 amounted to approximately RMB 28,708,000, an increase from RMB 27,582,000 for the same period in 2024[9]. - Basic earnings per share for the six months ended 30 June 2025 were RMB 8.46 cents, down from RMB 30.94 cents for the six months ended 30 June 2024[10]. - Gross profit for the six months ended 30 June 2025 was RMB 40,729,000, compared to RMB 48,715,000 for the same period in 2024[9]. - Other income decreased to RMB 41,000 for the six months ended 30 June 2025, down from RMB 246,000 in the previous year[9]. - The Group reported a profit before tax of RMB 41,106,000 for the six months ended 30 June 2025, an increase from RMB 38,097,000 for the same period in 2024[9]. - The company reported a profit for the period of RMB 28,708,000 for the six months ended June 30, 2025, compared to RMB 27,582,000 for the same period in 2024, reflecting a growth of 4.1%[13]. - Revenue for the six months ended June 30, 2025, was RMB 60,990,000, a decrease of 27.5% compared to RMB 84,162,000 for the same period in 2024[38]. - Platform services income decreased to RMB 57,165,000 in 2025 from RMB 77,682,000 in 2024, representing a decline of 26.4%[38]. - Interest income also fell to RMB 3,825,000 in 2025 from RMB 6,480,000 in 2024, a decrease of 41.0%[38]. Dividends and Shareholder Returns - The Board did not declare an interim dividend for the six months ended 30 June 2025, consistent with the previous year[9]. - The Group did not recommend the payment of an interim dividend for the six months ended June 30, 2025, consistent with the previous year[50]. Assets and Liabilities - As of June 30, 2025, total assets less current liabilities increased to RMB 220,884,000 from RMB 172,401,000 as of December 31, 2024, representing a growth of 28%[11][12]. - Net current assets rose to RMB 195,677,000, up from RMB 172,396,000, indicating an increase of 14%[11][12]. - The Group's reportable segment assets as of June 30, 2025, amounted to RMB 195,296,000, compared to RMB 164,779,000 as of December 31, 2024, indicating an increase of approximately 18.5%[32]. - The reportable segment liabilities as of June 30, 2025, were RMB 68,543,000, up from RMB 38,738,000 at the end of 2024, reflecting an increase of approximately 77%[34]. - As of June 30, 2025, the Group's loans receivables amounted to RMB 0, while as of December 31, 2024, it was RMB 170,728,000[56]. - The allowance for expected credit losses (ECLs) was RMB 10,054,000 as of December 31, 2024, and was fully reversed by June 30, 2025[61]. - Prepayments increased significantly from RMB 2,346,000 as of December 31, 2024, to RMB 33,000,000 as of June 30, 2025, indicating a focus on marketing expenses[64][65]. - Other receivables rose from RMB 5,456,000 as of December 31, 2024, to RMB 51,661,000 as of June 30, 2025[64]. Cash Flow and Financing - Cash and cash equivalents at the end of the period reached RMB 183,127,000, significantly up from RMB 19,202,000 at the end of June 2024, marking an increase of 853%[14]. - Net cash generated from operating activities was RMB 135,247,000 for the six months ended June 30, 2025, compared to a cash outflow of RMB 1,101,000 in the same period of 2024[14]. - The company had no cash generated from financing activities in the first half of 2025, compared to RMB 4,008,000 in the same period of 2024[14]. - The Group did not have any borrowings as of June 30, 2025, compared to approximately RMB 1,000,000 on December 31, 2024[88]. Equity and Share Capital - The company’s total equity increased to RMB 201,909,000 as of June 30, 2025, from RMB 172,386,000 at the end of December 2024, representing a growth of 17%[12]. - The Group's share capital remained unchanged at RMB 3,073,000 as of both June 30, 2025, and December 31, 2024, despite new share subscriptions and rights issues[68]. - The rights issue completed in 2024 resulted in the issuance of 254,414,580 new shares, generating gross proceeds of approximately HK$63,600,000[69]. - The Company has 339,219,440 shares of HK$0.01 each in issue, with a share capital value of approximately RMB3,073,000 as of 30 June 2025[123]. Strategic Initiatives and Future Outlook - The Group remains focused on maintaining a robust balance sheet and optimizing the revenue cycle while exploring synergistic partnerships[106]. - The Board is cautiously optimistic about the operating outlook despite ongoing macroeconomic and industry challenges[107]. - The Group aims to expand its customer base and market share while enhancing shareholder value through strategic initiatives[105]. - The net proceeds will be allocated for general working capital, development of new service platforms in the Philippines and Hong Kong, and the operation of the group's data center[103]. Corporate Governance and Compliance - The Company emphasizes good corporate governance to enhance management effectiveness and shareholder value[150]. - The Company complied with the Corporate Governance Code during the reporting period[155]. - The Audit Committee reviewed the Group's unaudited condensed consolidated results for the six months ended June 30, 2025, ensuring compliance with applicable accounting standards[161]. - There were no competing interests among Directors or controlling shareholders as of June 30, 2025[157]. Employee and Director Information - Total staff costs for the six months ended June 30, 2025, were approximately RMB 2,396,000, compared to approximately RMB 2,280,000 for the same period in 2024, reflecting an increase of about 5.1%[133]. - The Group had a total of 21 staff as of June 30, 2025, down from 23 staff as of December 31, 2024[133]. - The remuneration of Directors is reviewed by the remuneration committee based on experience, responsibility, and the Group's operating results[134]. Risk Management - The Group is primarily exposed to foreign exchange risk due to certain bank balances denominated in Hong Kong dollars, which is not the functional currency[128]. - The Group adopts a conservative treasury policy to manage liquidity risk and credit risk effectively[129].
丰银禾控股(08030) - 2025 - 中期财报