Revenue Performance - For the six months ended June 30, 2025, the company's revenue decreased by approximately RMB 52.9 million or 36.2% due to a challenging market environment [12]. - Revenue for the six months ended June 30, 2025, was RMB 93,156 thousand, a decrease of 36.2% compared to RMB 146,086 thousand for the same period in 2024 [65]. - The company's main revenue source, DHA products, contributed approximately 99.0% of total revenue for the six months ended June 30, 2025, down from 96.2% in the same period of 2024 [13]. - The average selling price of DHA products decreased from approximately RMB 210.3 to RMB 189.8 per unit, reflecting increased competition and consumer downgrade in the Chinese economy [16]. - Major customers contributing over 10% of total revenue included Customer B with RMB 21,450,000 and Customer A with RMB 11,851,000 for the six months ended June 30, 2025 [88]. Profitability and Expenses - Gross profit for the six months ended June 30, 2025, was approximately RMB 62.3 million, a decline of 40.7% compared to the previous period [16]. - The gross profit margin slightly decreased to 66.8% from 71.8% in the same period of 2024, primarily due to pricing pressure from competition [16]. - Profit attributable to owners decreased by 95.3% to approximately RMB 2.1 million for the six months ended June 30, 2025, down from RMB 45.3 million in the same period of 2024 [21]. - The company reported a net profit of RMB 2,129 thousand for the six months ended June 30, 2025, a significant decline from RMB 45,281 thousand in the previous year [65]. - The total tax expense for the six months ended June 30, 2025, was RMB 10,286,000, an increase from RMB 6,418,000 in the same period of 2024 [94]. - The company’s total comprehensive loss for the six months ended June 30, 2025, was RMB 4,400,000, compared to a total comprehensive income of RMB 48,130,000 for the same period in 2024 [69]. Operating Costs - The company's sales cost for the six months ended June 30, 2025, was approximately RMB 30.9 million, a decrease of 24.9% from RMB 41.1 million in the previous period [15]. - Sales and distribution expenses for the six months ended June 30, 2025, were approximately RMB 38.9 million, compared to RMB 48.1 million for the same period in 2024, reflecting a decrease [18]. - Administrative and other operating expenses increased to approximately RMB 14.5 million for the six months ended June 30, 2025, from RMB 12.1 million in the same period of 2024 [19]. - Other income decreased from approximately RMB 12.8 million to RMB 4.2 million, mainly due to a reduction in government subsidies [17]. Cash Flow and Financial Position - The company has a cash and cash equivalents balance of RMB 423,300 thousand as of June 30, 2025, an increase from RMB 235,817 thousand at the end of 2024 [66]. - The net cash generated from operating activities for the six months ended June 30, 2025, was RMB 13,906,000, a decrease of 56.8% compared to RMB 32,193,000 for the same period in 2024 [71]. - The net cash generated from investing activities was RMB 2,217,000, compared to RMB 459,000 in the previous year, indicating a significant increase [71]. - The net cash generated from financing activities was RMB 171,402,000, a substantial increase from a net cash used of RMB 1,758,000 in the prior year [71]. - The group maintained a prudent treasury policy, ensuring a healthy level of liquidity throughout the reporting period [28]. Share Capital and Dividends - The board has resolved not to recommend an interim dividend for the six months ended June 30, 2025 [32]. - The company declared a final dividend of RMB 0.05 per ordinary share for the year 2024, totaling RMB 50,000,000 [97]. - The group had no bank loans as of June 30, 2025, and completed a global offering of 250 million shares at HKD 0.80 per share, which is expected to support future business development [23]. - The net proceeds from the global offering amounted to approximately HKD 124.0 million, with HKD 99.3 million remaining unutilized as of June 30, 2025 [59]. - The company completed a global offering on January 10, 2025, issuing 250,000,000 new ordinary shares at a price of HKD 0.8 per share, raising a total of HKD 200,000,000 (approximately RMB 188,260,000) [108]. Employee and Management Compensation - The group employed 50 staff as of June 30, 2025, with employee costs amounting to approximately RMB 6.4 million for the six months ended June 30, 2025, compared to RMB 6.2 million in the same period of 2024 [30]. - The remuneration for key management personnel, including directors, increased to RMB 3,189,000 for the six months ended June 30, 2025, compared to RMB 1,693,000 for the same period in 2024 [110]. - The company experienced a decrease in discretionary bonuses for management, from RMB 294,000 in 2024 to RMB 48,000 in 2025 [110]. - The contributions to defined contribution plans for management personnel increased from RMB 200,000 in 2024 to RMB 454,000 in 2025 [110]. Governance and Compliance - The company’s directors and senior executives are required to disclose their interests in shares and related securities under the Securities and Futures Ordinance [41]. - The company has not received any notifications from individuals regarding their shareholdings that require disclosure under the Securities and Futures Ordinance as of June 30, 2025 [44]. - The company’s governance structure allows for the board to determine the eligibility of participants in the stock option plan based on various factors [47]. - The company’s directors may seek independent professional advice when necessary, with costs borne by the company [39].
纽曼思(02530) - 2025 - 中期财报