福禄控股(02101) - 2025 - 中期财报

Company Information This section provides essential company details, including board composition, key personnel, registered offices, legal advisers, bankers, stock code, and website Board of Directors and Committees This section outlines the company's Board of Directors, independent non-executive directors, and the composition of its committees - Mr. Fu Xi serves as Chairman and Chief Executive Officer and chairs the Nomination Committee[5] - The Audit Committee comprises Mr. Li Weizhong (Chairman), Ms. Wang Yuyun, and Mr. Huang Chengsi[5] - Ms. Wang Yuyun was appointed as a member of the Nomination Committee on June 27, 2025, while Mr. Huang Chengsi resigned on the same date[5] Company Secretary and Authorized Representatives This section updates changes in the Company Secretary and Authorized Representatives, with Mr. Zhou Zihao succeeding Ms. Wu Jiawen - Mr. Zhou Zihao was appointed as Company Secretary and Authorized Representative on August 28, 2025, succeeding Ms. Wu Jiawen[5] Registered Office and Headquarters The company maintains its registered office in the Cayman Islands, with headquarters in Wuhan and a Hong Kong office - Cayman Islands registered office: Harneys Fiduciary (Cayman) Limited[5] - Principal place of business in China: 14th Floor, Building B27, Optics Valley Financial Port, No. 77 Guanggu Avenue, East Lake New Technology Development Zone, Wuhan, Hubei Province[6] - Principal place of business in Hong Kong: 31st Floor, Tower Two, Times Square, 1 Matheson Street, Causeway Bay[6] Legal Advisers and Bankers The company engages three legal advisers and lists China Merchants Bank and Industrial Bank as its principal bankers - Hong Kong legal adviser: Jingtian & Gongcheng Attorneys at Law (Limited Liability Partnership)[7] - PRC legal adviser: Shanghai Zhonglian (Wuhan) Law Firm[7] - Principal bankers: China Merchants Bank Co., Ltd. Wuhan Financial Port Sub-branch, Industrial Bank Co., Ltd. Wuhan Branch[7] Stock Code and Website The company's stock code is 2101, and its official website is www.fulu.com - Stock Code: 2101[8] - Company website: www.fulu.com[8](index=8&type=chunk) Financial Highlights This section presents an unaudited financial overview for the first half of 2025, showing year-on-year declines in revenue and profit Overview of Financial Performance in First Half of 2025 (RMB thousands) | Indicator | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 157,431 | 196,046 | (19.7) | | Gross Profit | 115,509 | 146,739 | (21.3) | | Gross Profit Margin | 73.4% | 74.8% | (1.4) | | Profit Before Tax | 32,022 | 44,751 | (28.4) | | Profit and Total Comprehensive Income for the Period | 28,495 | 35,247 | (19.2) | | Profit for the Period Attributable to Owners of the Parent | 30,136 | 36,320 | (17.0) | | Non-IFRS Adjusted Profit for the Period Attributable to Owners of the Parent | 31,222 | 36,925 | (15.4) | Overview of Financial Position as of June 30, 2025 (RMB thousands) | Indicator | June 30, 2025 | December 31, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Current Assets | 1,703,056 | 1,705,900 | (0.2) | | Non-current Assets | 64,114 | 58,125 | 10.3 | | Total Assets | 1,767,170 | 1,764,025 | 0.2 | | Current Liabilities | 456,047 | 480,551 | (5.1) | | Non-current Liabilities | 4,691 | 1,970 | 138.1 | | Total Liabilities | 460,738 | 482,521 | (4.5) | | Net Assets | 1,306,432 | 1,281,504 | 1.9 | | Total Equity | 1,306,432 | 1,281,504 | 1.9 | Chairman's Report The Chairman's Report provides an overview of the company's performance, strategic responses to market challenges, and future outlook Economic Environment and Business Strategy Amidst economic downturns and competition, the company focuses on core business value, management efficiency, and prudent business selection - The current economic environment faces downward pressure, accelerated changes in consumer market demand structure, and intensified industry competition[11] - The company prioritizes deepening core business value and enhancing internal management efficiency for sustainable high-quality development[11] - Business selection adopts a cautious approach, prioritizing healthy cash flow, secure collections, and profit margin assurance[12] Financial Performance in First Half of 2025 In the first half of 2025, total revenue decreased by 19.7% and profit attributable to owners of the parent decreased by 17.0% Key Financial Indicators for First Half of 2025 (RMB thousands) | Indicator | 2025 (Unaudited) | 2024 (Unaudited) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 157,431 | 196,046 | (19.7) | | Profit for the Period Attributable to Owners of the Parent | 30,136 | 36,320 | (17.0) | | Adjusted Profit for the Period Attributable to Owners of the Parent | 31,222 | 36,925 | (15.4) | - The company actively promotes management reforms, unleashes organizational efficiency, implements precise cost control, optimizes resource allocation, enhances operational efficiency, and reduces costs[12] - Cash and cash equivalents were RMB 273,148 thousand, ensuring stable working capital[15] Measures to Enhance Management Efficiency The company enhanced management efficiency through agile business closed-loops, independent subsidiary operations, and robust risk control - Building agile business closed-loops, accelerating the establishment of independent operating management systems for subsidiaries, and enhancing market response speed[13] - Improving scientific performance and incentive mechanisms to activate organizational vitality[13] - Strengthening risk control and compliance, upgrading the internal audit system, enhancing professional team building, and