Financial Performance - The group's revenue for the six months ended September 30, 2025, was approximately RMB 748.16 million, a decrease of about 12.92% compared to the same period last year[2]. - The profit attributable to the owners of the company for the same period was approximately RMB 107.62 million[4]. - The basic earnings per share for the period was RMB 0.030[4]. - The total comprehensive income for the period was approximately RMB 184.94 million, slightly down from RMB 185.68 million in the previous year[4]. - The group reported a gross profit of RMB 343.32 million, down from RMB 378.30 million in the previous year[3]. - The company reported a net profit attributable to owners of RMB 107,620,000 for the six months ended September 30, 2025, up from RMB 85,474,000 in the same period of 2024, representing a growth of 25.9%[23]. - The group's half-year revenue decreased by approximately 12.92% compared to the same period in 2024, with explosive sales dropping by about 43.58% due to a downturn in the coal and coke industry[35]. Assets and Liabilities - Non-current assets increased to RMB 3,620.58 million as of September 30, 2025, compared to RMB 3,298.31 million as of March 31, 2025[6]. - Current liabilities decreased to RMB 1,437.85 million from RMB 1,601.30 million[6]. - The net asset value of the company increased to RMB 2,356.49 million as of September 30, 2025, from RMB 2,175.49 million[7]. - The group's current liabilities were approximately RMB 1,437.85 million as of September 30, 2025, down from RMB 1,601.30 million as of March 31, 2025[37]. - The group's debt-to-asset ratio was 52.13% as of September 30, 2025, a slight decrease from 52.74% as of March 31, 2025[45]. - The company’s depreciation of property, plant, and equipment increased to RMB 53,972,000 from RMB 49,178,000 year-over-year[21]. - Accounts receivable from trade amounted to RMB 296,202,000 as of September 30, 2025, compared to RMB 283,095,000 as of March 31, 2025, reflecting a growth in receivables[25]. Dividends and Shareholder Information - The group did not recommend the distribution of an interim dividend for the period[2]. - The company did not recommend an interim dividend for the current period, consistent with the previous year[22]. - As of September 30, 2025, key executives hold significant shares, with Liu Fali owning 242,415,854 shares (6.81%) and 1,707,147,368 shares (47.97%) through agreements[56]. - The total shareholding of major executives indicates a strong alignment with shareholder interests, with a combined ownership exceeding 51%[57]. - Major shareholder Yao Yang Holdings Limited holds 1,361,516,331 shares, representing 38.26% of the total shares[59]. - Mr. Ma Su Cheng, as a trust beneficiary, also holds 1,361,516,331 shares, equating to 38.26%[60]. - Ms. Ma Xia holds 172,166,037 shares, which is 4.84% of the total shares[60]. - The company did not purchase, sell, or redeem any listed shares during the six months ending September 30, 2025[62]. - As of September 30, 2025, the company had no treasury shares[63]. - There were no significant competitive interests held by directors or major shareholders during the reporting period[64]. Corporate Governance - The company has adopted a rigorous code of conduct for securities trading, ensuring compliance by all directors[66]. - The company has maintained high standards of corporate governance, adhering to the principles of the Corporate Governance Code[67]. - The roles of Chairman and CEO are held by the same individual, Mr. Ma Tian Yi, which the board believes provides strong leadership[68]. - There have been no changes in the information disclosed regarding the independent non-executive director since the last annual report[69]. - The audit committee has been established in accordance with the Listing Rules and consists of three independent non-executive directors[70]. - The interim results announcement and report for the six months ending September 30, 2025, have been reviewed by the audit committee members[71]. - There have been no significant events affecting the group from September 30, 2025, to the date of this announcement[72]. Operational Highlights - The company has been engaged in the manufacturing and sale of explosives and related services, primarily operating in China[8]. - Sales of explosives amounted to RMB 195,450,000, while blasting services generated RMB 101,630,000, indicating a significant increase in blasting services revenue from RMB 59,952,000 in the previous year[12]. - The mining business generated external sales of RMB 461,485,000, contributing to a segment profit of RMB 176,673,000, compared to RMB 351,044,000 and RMB 63,593,000 respectively in the prior year[17]. - The company completed a partial sale of its subsidiary, Tibet Tianren Mining Co., Ltd., selling 5% equity for RMB 45,170,000, reducing its ownership from 54% to 51%[29]. - The company’s deferred tax expenses for the period were RMB 579,000, a significant decrease from RMB 27,502,000 in the prior year[19]. - The increase in property, plant, and equipment during the period was RMB 347,560,000, compared to RMB 257,840,000 as of March 31, 2025[24]. - The group employed 1,448 full-time employees as of September 30, 2025, an increase from 1,111 employees as of March 31, 2025[50]. - The group reported a 28.44% increase in concentrate sales compared to the previous year, driven by rising sales prices of copper and sulfur concentrates[35]. - The group had borrowings of approximately RMB 1,031.93 million as of September 30, 2025, up from RMB 896.54 million as of March 31, 2025[37]. - The group did not engage in any significant investments or acquisitions during the six-month period ending September 30, 2025[41][43]. - The group completed surface drilling of 1,118 meters and underground drilling of 10,635.5 meters for production exploration during the six-month period ending September 30, 2025[52]. - During the six months ended September 30, 2025, exploration, development, and mining expenditures were reported as follows: RMB 5,328.65 thousand for exploration, RMB 3,792.70 thousand for development, and RMB 22,965.72 thousand for mining at the Anhui Jinding project[53]. - The sales volume of civil explosives significantly declined in the first half of the year due to a prolonged downturn in the coal market and tightened safety regulations, leading to reduced demand for civil explosive products[54]. - The Anhui Jinding project showed stable operation with increased revenue attributed to high copper and gold prices, while the construction of the Tajikistan detonator production line is nearing completion[54]. - The comprehensive construction of the Tibet Tianren project has commenced, with production expected to start by the end of 2026, which is anticipated to enhance the company's revenue and operational capabilities[54]. - The management believes that the Inner Mongolia civil explosive market has bottomed out, and sales are expected to recover as coal prices gradually improve[55]. - The company plans to optimize the layout of civil explosive production capacity to enhance profitability and risk resilience[55]. - The deep phase II project at Anhui Jinding is progressing steadily, with ongoing optimization of ore selection processes expected to increase the unit value of ore[55]. - The company aims to strengthen its expansion in Central Asia, focusing on blasting and mining engineering projects to drive growth in civil explosive sales and mineral resource development[55].
比优集团(09893) - 2025 - 中期业绩