Revenue and Profit Growth - For the six months ended June 30, 2025, the group's revenue increased by approximately RMB 109.6 million or 33.2% to approximately RMB 439.3 million compared to the previous period's revenue of approximately RMB 329.7 million[10]. - Profit for the same period rose by approximately RMB 5.7 million or 23.0% to approximately RMB 30.5 million, up from approximately RMB 24.8 million in the previous period[10]. - Revenue increased by approximately RMB 109.6 million or 33.2% to approximately RMB 439.3 million from the previous period's RMB 329.7 million[16]. - Gross profit increased by approximately RMB 41.6 million or 39.4% to approximately RMB 147.2 million, with gross margin rising from about 32.0% to approximately 33.5%[18]. - Net profit for the six months ended June 30, 2025, was RMB 30,535,000, an increase of 23.4% compared to RMB 24,763,000 in 2024[62]. - For the six months ended June 30, 2025, total revenue reached RMB 439,316,000, a 33.2% increase from RMB 329,678,000 in the same period of 2024[81]. Segment Performance - The contract manufacturing business accounted for approximately 60.3% of total revenue, while the branded products business contributed approximately 28.5%[11]. - Revenue from the contract manufacturing segment increased by approximately RMB 80.4 million or 43.6% to approximately RMB 264.8 million, driven by increased demand in the Russian market[11]. - The branded products segment achieved revenue growth of approximately RMB 19.5 million or 18.4%, reaching approximately RMB 125.4 million compared to approximately RMB 105.9 million in the previous period[12]. - Contract manufacturing revenue increased from approximately RMB 184.4 million to approximately RMB 264.8 million, with sales to the top Russian client rising by approximately RMB 74.9 million to approximately RMB 189.3 million[17]. - Brand product revenue grew from approximately RMB 105.9 million to approximately RMB 125.4 million, an increase of about 18.4% due to online sales and the successful launch of a new women's care brand product[17]. Expenses and Costs - Sales cost rose by approximately RMB 68.0 million or 30.3% to approximately RMB 292.1 million, driven by direct material costs increasing from approximately RMB 191.7 million to approximately RMB 256.9 million, a rise of about 34.0%[16]. - Selling and distribution expenses rose by approximately RMB 36.7 million or 76.6% to approximately RMB 84.6 million, primarily due to increased online sales and promotional expenses[19]. - Administrative and other operating expenses increased by approximately RMB 4.6 million or 23.4% to approximately RMB 24.3 million, mainly due to a significant rise in consulting fees[22]. Cash Flow and Financial Position - As of June 30, 2025, the company's bank balances and cash amounted to approximately RMB 165.4 million, a significant increase from RMB 26.7 million as of December 31, 2024[32]. - The total interest-bearing borrowings increased to approximately RMB 75.0 million as of June 30, 2025, compared to RMB 33.0 million as of December 31, 2024, resulting in a capital debt ratio of 15.7%[32]. - Trade and other receivables decreased by approximately RMB 16.0 million or 8.1% to approximately RMB 182.3 million, with trade receivables decreasing by approximately RMB 37.6 million or 25.7%[28]. - The company reported a net cash increase of RMB 138,820,000 in cash and cash equivalents by the end of the reporting period, compared to a decrease of RMB 46,783,000 in the previous year[72]. - Operating cash flow for the six months ended June 30, 2025, was RMB 81,393,000, a significant improvement from a cash outflow of RMB 35,385,000 in 2024[72]. Corporate Governance and Compliance - The company has established an audit committee in compliance with corporate governance codes, ensuring financial oversight[60]. - The company plans to continue reviewing and monitoring corporate governance practices to align with the latest developments in corporate governance[60]. - The company has adhered to relevant laws and regulations without any significant violations during the reporting period[56]. - The company emphasizes accountability and transparency in its corporate governance principles[58]. Shareholder Information - Mr. Yan holds 675,000,000 shares, representing 67.50% of the company's issued share capital[45]. - Softo BVI, owned by Mr. Yan, holds 442,125,000 shares, approximately 44.21% of the issued share capital[49]. - Wish BVI and Galaxey BVI, both subsidiaries of Softo BVI, hold 120,000,000 shares (12.00%) and 112,875,000 shares (11.29%) respectively[49]. - Mr. Zeng holds 75,000,000 shares, representing 7.50% of the company's issued share capital[47]. - Aspiring BVI and Ambition BVI, owned by Mr. Zeng, hold 45,400,000 shares (4.54%) and 29,600,000 shares (2.96%) respectively[49]. Investment and Capital Expenditure - The company has no significant investments, acquisitions, or disposals of subsidiaries during the period[40]. - The company has a capital expenditure commitment of RMB 14,670,000 as of June 30, 2025, down from RMB 20,972,000 at the end of 2024[130]. - The company acquired property, plant, and equipment amounting to approximately RMB 22,609,000 for the six months ended June 30, 2025, compared to RMB 14,100,000 for the same period in 2024[96]. Research and Development - Research and development expenses were RMB 11,871,000, slightly up from RMB 11,704,000 in the previous year[88]. - The company incurred research and development costs during the six months ended June 30, 2025, amounting to RMB 13,974,000, compared to RMB 13,427,000 for the same period in 2024[91].
舒宝国际(02569) - 2025 - 中期财报