Revenue and Profitability - For the six months ended June 30, 2025, total revenue was approximately RMB 67.6 million, an increase of about RMB 3.9 million compared to RMB 63.7 million for the same period in 2024[17]. - The revenue from the life paper and hygiene products segment was approximately RMB 61.6 million, representing a year-on-year increase of about 10.5% from RMB 55.8 million in the same period of 2024[19]. - The property leasing segment generated revenue of approximately RMB 6 million, a decrease of 24.1% from RMB 7.9 million in the same period of 2024[18]. - The gross profit for the same period was RMB 10,299,000, representing a gross margin of 15.2%, up from RMB 9,759,000 in 2024[65]. - The company incurred a net loss of RMB 10,400,000 for the six months ended June 30, 2025, compared to a profit of RMB 3,439,000 in the prior year[65]. - The total comprehensive loss for the period was RMB 9,636,000, compared to a comprehensive income of RMB 2,424,000 in 2024[67]. - Basic and diluted loss per share for the period was RMB 1.55, compared to earnings of RMB 0.91 per share in the previous year[67]. Expenses and Financial Costs - Selling and distribution expenses increased by approximately 46.1% to RMB 1.7 million, primarily due to rising transportation costs[23]. - Administrative expenses rose from approximately RMB 2.8 million to RMB 3.3 million, mainly due to increased employee costs[25]. - Financial costs increased to approximately RMB 600,000 from RMB 300,000 in the same period of 2024, attributed to additional borrowings and rising interest rates[26]. - The income tax expense for the six months ended June 30, 2025, was approximately RMB 2.7 million, compared to RMB 2.6 million in the same period of 2024[27]. Assets and Liabilities - Total liabilities increased to RMB 66,736,000 from RMB 63,831,000, reflecting an increase of about 4.7%[69]. - Total non-current assets amounted to RMB 189,813,000, a decrease from RMB 198,349,000 as of December 31, 2024, representing a decline of approximately 4.5%[69]. - Current assets increased to RMB 225,078,000 from RMB 223,925,000, showing a growth of about 0.5%[69]. - The net current assets stood at RMB 158,342,000, slightly down from RMB 160,094,000, indicating a decrease of approximately 1.1%[69]. - The company’s total assets decreased to RMB 348,155,000 from RMB 358,443,000, reflecting a decrease of about 2.4%[69]. Cash Flow and Financing - Operating cash flow for the six months ended June 30, 2025, was RMB 11,442,000, compared to RMB 7,732,000 for the same period in 2024, representing an increase of approximately 48.5%[75]. - The net cash flow from financing activities was RMB 3,728,000, compared to a net outflow of RMB 6,000,000 in the previous period[77]. - Cash and bank balances as of June 30, 2025, amounted to RMB 131,832,000, an increase of 10.5% from RMB 119,214,000 as of December 31, 2024[121]. Capital Expenditures and Investments - Capital expenditures for the six months ended June 30, 2025, totaled approximately RMB 2.5 million, primarily for prepayments and acquisitions of properties, plants, and equipment, compared to RMB 1 million for the same period in 2024[31]. - The company acquired property, plant, and equipment in mainland China amounting to approximately RMB 2,470,000 during the six months ended June 30, 2025[116]. - As of June 30, 2025, approximately RMB 19 million of unutilized proceeds from the IPO will be used for investment in production workshops, equipment upgrades, and technology development[44]. Shareholder and Governance Information - The company’s major shareholders include Mr. Chen Shuming and Guan Jun International Limited, each holding 350,000,000 shares, representing 64.09% of the total shares[53]. - The audit committee, consisting of three independent non-executive directors, has reviewed the interim financial statements for the six months ended June 30, 2025[62]. - The company has not granted any share options under the share option scheme as of June 30, 2025, with a total of 50,000,000 options available for grant[55]. Market Outlook and Strategic Initiatives - The group plans to continue strategic initiatives to diversify its customer base and enhance operational efficiency through cost optimization and investment in new production facilities[47]. - The group maintains a cautious optimism regarding the Chinese industrial and manufacturing sector, anticipating a GDP growth rate of approximately 5% for 2025[47]. - The company continues to focus on expanding its operations in the consumer paper and hygiene products sector within mainland China[84]. Other Financial Information - Other income and gains rose by 24.5% to approximately RMB 800,000, up from RMB 600,000 in the same period of 2024[22]. - The cost of goods sold for the six months ended June 30, 2025, was RMB 45,619,000, compared to RMB 44,177,000 for the same period in 2024, reflecting a year-on-year increase of 3.3%[108]. - The company reported a loss attributable to owners of the company of RMB 8,453,000 for the six months ended June 30, 2025, compared to a profit of RMB 4,964,000 in the same period of 2024[114]. - The company did not recommend any interim dividend for the six months ended June 30, 2025, consistent with the same period in 2024[115].
冠均国际控股(01629) - 2025 - 中期财报