Financial Performance - For the six months ended 30 June 2025, revenue increased to RMB 1,266.3 million, up 16.4% from RMB 1,088.2 million in the same period of 2024[12]. - Profit attributable to equity shareholders rose significantly to RMB 184.1 million, a substantial increase from RMB 6.0 million in the prior year[12]. - Basic and diluted earnings per share increased to 2.97 RMB cents, compared to 0.10 RMB cents for the six months ended 30 June 2024[12]. - For the six months ended June 30, 2025, the Group's profit attributable to shareholders was approximately RMB 184.1 million, a significant increase of approximately RMB 178.2 million compared to RMB 6.0 million for the same period in 2024[17]. - Total comprehensive income for the period attributable to equity shareholders was RMB 162,938, compared to a loss of RMB 23,204 in 2024[109]. - For the six months ended June 30, 2025, the company reported a profit of RMB 184,146,000, a significant recovery from a loss of RMB 359,964,000 in the previous six months[117]. Revenue Breakdown - Revenue from the overseas market increased by approximately RMB 309.5 million or 56.0% to approximately RMB 862.3 million, contributing approximately 68.1% of total revenue[30]. - Domestic revenue decreased by approximately RMB 131.3 million or 24.5% to approximately RMB 404.0 million, contributing approximately 31.9% of total revenue[26]. - Revenue recognized over time amounted to RMB 1,191,134,000, up from RMB 1,006,205,000, while point-in-time revenue decreased to RMB 75,160,000 from RMB 81,957,000[145]. - Adjusted gross profit for the reportable segments reached RMB 295,029,000, a significant increase of 46.3% compared to RMB 201,620,000 in the prior year[152]. Cost and Expenses - The cost of sales increased by approximately RMB 85.9 million or 9.8% to approximately RMB 959.2 million compared to RMB 873.3 million for the same period in 2024[31]. - Selling expenses decreased by approximately RMB 3.2 million or 16.8% to approximately RMB 15.9 million, accounting for approximately 1.3% of operating revenue[41]. - Administrative expenses increased by approximately RMB 6.1 million or 4.0% to approximately RMB 157.5 million, accounting for approximately 12.4% of operating revenue[42]. - Research and development costs for the period were RMB 11,007,000, down from RMB 12,435,000 in the previous year[157]. Cash Flow and Liquidity - Net cash used in operating activities decreased to RMB (46.4) million, an improvement from RMB (198.6) million in the same period of 2024[12]. - Cash on hand and in bank decreased by approximately RMB 93.2 million or 13.6% to approximately RMB 590.1 million as of June 30, 2025[48]. - The company reported a net decrease in cash and cash equivalents of RMB 137,352,000 for the period[121]. - The Group's management has prepared a cash flow forecast for at least the next twelve months, focusing on improving operating cash flows through accelerated billings and collection of trade receivables[129]. Assets and Liabilities - As of June 30, 2025, the contract value of backlog increased by approximately RMB 2,337.3 million or 23.3% to approximately RMB 12,360.0 million compared to RMB 10,022.7 million as of June 30, 2024[20]. - Net current liabilities increased by approximately RMB 41.8 million or 55.7% to approximately RMB 116.9 million as of June 30, 2025[47]. - The Group's debt-to-asset ratio as of June 30, 2025, was 89.7%, up from 88.7% as of December 31, 2024[58]. - Trade receivables for contract work from third parties increased to RMB 2,954.3 million as of June 30, 2025, compared to RMB 2,893.4 million on December 31, 2024, reflecting a growth of 2.1%[180]. Strategic Initiatives - The Group plans to focus on long-term development strategies, enhancing customer service and human resource management to drive market expansion and technological innovation[25]. - The Group enhanced management efficiency through internal autonomy and comprehensive budget management[14]. - The Group's internationalization strategy contributed significantly to revenue growth, with overseas market orders playing a key role[15]. Corporate Governance - The Company complied with all code provisions in the Corporate Governance Code for the six months ended June 30, 2025[99]. - The unaudited interim results for the six months ended June 30, 2025, were reviewed and approved by the Audit Committee[100]. - The Company did not declare any interim dividend for the six months ended June 30, 2025, consistent with the previous year[75]. Shareholder Information - As of June 30, 2025, the total number of issued shares was 6,208,734,000[81]. - Kang Baohua holds 228,636,000 shares, representing approximately 3.68% of the Company's shareholding[81]. - Best Outlook Limited and Neo Pioneer Limited, both wholly-owned by Kang Baohua, hold 2,597,531,923 shares (41.84%) and 1,049,231,845 shares (16.90%) respectively[89].
远大中国(02789) - 2025 - 中期财报