Financial Performance - The company reported a revenue of RMB 20,810,000 for the six months ended June 30, 2025, a decrease of 7.4% compared to RMB 22,494,000 for the same period in 2024[4] - The gross loss for the period was RMB 4,109,000, slightly improved from a gross loss of RMB 4,405,000 in the previous year[4] - Operating loss increased to RMB 26,084,000 from RMB 23,246,000 year-on-year, indicating a deterioration in operational efficiency[4] - The total comprehensive loss for the period was RMB 30,102,000, compared to RMB 28,225,000 in the same period last year, reflecting a worsening financial performance[5] - Basic and diluted loss per share was RMB 2.6, compared to RMB 2.4 for the same period in 2024[5] - The company incurred a total loss of RMB 30,636,000 for the six months ended June 30, 2025, compared to a loss of RMB 27,621,000 in the previous period[21] - The company reported a segment loss of RMB (14,744,000) from hotel and resort operations for the six months ended June 30, 2025[21] - The company incurred a segment loss of RMB 17,798,000, compared to a loss of RMB 3,616,000 in the same period last year[24] - The pre-tax loss for the period was RMB 29,296,000, with a tax expense of RMB 1,675,000, resulting in a total loss of RMB 27,621,000[24] - The net loss for the period increased by approximately RMB 3,000,000 or 10.9% to about RMB 30,600,000, compared to RMB 27,600,000 in the same period last year[60] Assets and Liabilities - Non-current assets decreased to RMB 723,540,000 as of June 30, 2025, down from RMB 744,517,000 at the end of 2024[7] - Current assets remained relatively stable at RMB 213,935,000, compared to RMB 214,011,000 at the end of 2024[7] - Total liabilities decreased slightly to RMB 780,842,000 from RMB 784,031,000 year-on-year, indicating a marginal improvement in the company's leverage[8] - The company's equity decreased to RMB 156,633,000 from RMB 174,497,000, reflecting a decline in shareholder value[8] - The total assets as of June 30, 2025, amounted to RMB 937,475,000, with total liabilities of RMB 780,842,000[22] - Total assets as of June 30, 2025, amounted to RMB 958,528,000, while total liabilities were RMB 784,031,000[26] - Bank loans as of June 30, 2025, were reported at RMB 214,998,000, slightly down from RMB 215,776,000 at the end of December 2024[35] Cash Flow - The company reported a net cash outflow from operating activities of RMB (6,151,000) for the six months ended June 30, 2025, compared to a cash inflow of RMB 8,182,000 in the same period of 2024[13] - The financing activities generated a net cash inflow of RMB 12,824,000 for the six months ended June 30, 2025, compared to a cash outflow of RMB (7,928,000) in the previous year[13] - The company’s cash and cash equivalents increased to RMB 8,326,000 as of June 30, 2025, from RMB 2,811,000 at the end of the previous period[13] Revenue Breakdown - Revenue from resort operations was RMB 14,211,000, down 37% from RMB 22,494,000 in the previous year[17] - The company generated RMB 6,599,000 from property sales during the six months ended June 30, 2025, with no property sales recorded in the same period of 2024[17] - Revenue from the company's hot spring resorts and hotels decreased by approximately 36.8% to about RMB 14,200,000 compared to the previous year[52] - Income from admission tickets decreased by approximately 29.7% to about RMB 4,900,000 compared to 2024[52] - The average room revenue from themed hotels decreased by approximately 18.3% to about RMB 6,100,000 compared to the previous year[52] - The occupancy rate of themed hotels dropped from approximately 22% for the six months ended June 30, 2024, to about 20% for the same period in 2025[52] - The average room rate decreased from approximately RMB 280 to RMB 261 for the same periods[52] Shareholder Information - As of June 30, 2025, the total issued share capital of the company is 1,245,800,767 shares[70] - Mr. Han holds 228,000,000 shares, representing 18.30% of the total issued share capital[70] - Major shareholder Ms. Chen holds 266,724,000 shares, accounting for 21.41% of the total issued share capital[71] Corporate Governance - The company has complied with corporate governance codes applicable during the reporting period[75] - There were no reported conflicts of interest among directors or major shareholders during the six months ending June 30, 2025[73] - The company confirmed that all directors adhered to the trading compliance rules during the reporting period[72] Stock Options - The company has adopted a share option scheme since November 18, 2016, which is valid for 10 years[76] - A total of 35,800,000 share options were granted during the reporting period, with 26,000,000 options remaining as of June 30, 2025[76] - The exercise price for options granted on June 27, 2024, is HKD 0.1, with a validity period until June 26, 2032[76] - The fair value of the stock options estimated using two pricing models was approximately HKD 2,700,000, equivalent to about HKD 0.06 per option[79] - The expected term of the stock options is 7.98 years, with a volatility of 69.3% and a risk-free interest rate of 3.75%[79] Future Plans - The company plans to expand its tourism property development business by adopting standardized development procedures[46] - The company is actively monitoring the quality and quantity of its hot spring water sources to mitigate risks[49] - The group plans to seek further changes and suitable investment opportunities, particularly in the wellness and health-related industries, to ensure steady business growth[68] Dividends - The board does not recommend the distribution of any interim dividend for the period ending June 30, 2025[67] - The company has not declared or paid any dividends for the six months ended June 30, 2025, consistent with the previous year[28] Miscellaneous - The company is registered in the Cayman Islands and operates the Gudou Hot Spring Resort in Jiangmen, Guangdong Province, China[84] - The board of directors has reviewed the report and the group's unaudited financial performance for the six months ended June 30, 2025, confirming compliance with applicable accounting standards[83] - There were no significant events affecting the company's business operations from the end of the financial period to the report date[81] - The company did not purchase, redeem, or sell any of its securities during the six months ended June 30, 2025[82]
古兜控股(08308) - 2025 - 中期财报