Financial Performance - For the six months ended September 30, 2025, NIU Holdings Limited reported revenue of HKD 47,622,000, a decrease of 20% compared to HKD 59,455,000 for the same period in 2024[9] - Gross profit for the same period was HKD 13,637,000, significantly up from HKD 4,516,000 in 2024, indicating a gross margin improvement[9] - The company achieved a profit before tax of HKD 12,366,000, down from HKD 19,292,000 in the previous year, reflecting a decrease of approximately 36%[9] - Net profit for the period was HKD 11,988,000, compared to HKD 19,247,000 in 2024, representing a decline of about 38%[9] - Basic and diluted earnings per share decreased to HKD 8.8 from HKD 14.4, a drop of approximately 39% year-over-year[9] - The total comprehensive income for the six months ended September 30, 2025, was HKD 11,988,000, reflecting a decrease from the previous period's comprehensive income[12] - The group recorded a profit of approximately HKD 12.0 million for the six months ended September 30, 2025, compared to a profit of approximately HKD 19.2 million for the same period in 2024[45] Assets and Equity - Total assets as of September 30, 2025, were HKD 221,696,000, an increase from HKD 205,090,000 as of March 31, 2025[10] - The company's cash and cash equivalents rose to HKD 27,726,000 from HKD 16,358,000, reflecting a significant increase in liquidity[10] - Non-current assets increased to HKD 136,312,000 from HKD 112,230,000, indicating growth in long-term investments[10] - NIU Holdings Limited's total equity increased to HKD 211,733,000 from HKD 197,320,000, indicating a strengthening balance sheet[10] - The total equity attributable to owners as of September 30, 2025, was HKD 211,733,000, an increase from HKD 153,043,000 as of September 30, 2024[11] Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2025, was HKD 11,851,000, compared to a net cash used of HKD 28,126,000 in 2024[12] - The financing activities generated a net cash inflow of HKD 5,725,000 for the six months ended September 30, 2025, compared to HKD 15,318,000 in 2024[12] Revenue and Costs - The company's revenue from customer contracts for the six months ended September 30, 2025, was HKD 47,622,000, a decrease of 20% from HKD 59,455,000 in the same period of 2024[17] - The company's revenue decreased by approximately HKD 11.9 million or about 20.0% to approximately HKD 47.6 million for the six months ended September 30, 2025, primarily due to a reduction in the number of projects, impacting structural and geotechnical engineering consulting services for new property construction and renovation/maintenance[35] - Service costs decreased from approximately HKD 54.9 million to approximately HKD 34.0 million, a reduction of HKD 20.9 million or about 38.1%[38] - Employee costs for the six months ended September 30, 2025, totaled HKD 38,631,000, down from HKD 48,241,000 in the same period of 2024, indicating a reduction of approximately 20%[20] - General and administrative expenses decreased from approximately HKD 21.7 million to approximately HKD 19.0 million, a reduction of about HKD 2.6 million or 12.1%[42] Shareholder Information - The company completed a share consolidation on June 9, 2025, reducing the total number of issued shares from 1,445,450,000 to 144,545,000[33] - As of September 30, 2025, the company had 144,545,000 shares issued, with Mr. Yuan Zhiping holding 21,823,600 shares, representing 15.10% of the total issued share capital[56] - No other directors or key executives held any shares or related securities that required disclosure as of September 30, 2025[57] Corporate Governance - The audit committee, consisting of two independent non-executive directors, reviewed and approved the unaudited condensed consolidated financial statements for the six months ending September 30, 2025[68] - The company has complied with the applicable corporate governance code provisions, except for certain deviations noted in the report[61] - The board will continue to review corporate governance practices to meet increasing regulatory requirements and stakeholder expectations[62] Tax and Dividends - The income tax expense for the six months ended September 30, 2025, was HKD 378,000, compared to HKD 45,000 in 2024[21] - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous period[26] - The group has no tax provisions for corporate income tax in China and Macau due to estimated tax losses for the six months ended September 30, 2025[23][24] Employment and Operations - The group employed a total of 159 employees as of September 30, 2025, down from 172 employees a year earlier, with employee costs amounting to approximately HKD 38.6 million[55] - The company operates primarily in Hong Kong, with almost all external revenue generated from services provided within the region[19]
NIU HOLDINGS(08619) - 2026 - 中期业绩