利时集团控股(00526) - 2026 - 中期财报

Financial Performance - Revenue for the six months ended September 30, 2025, was RMB 1,115,871,000, a decrease of 20.6% compared to RMB 1,405,550,000 for the same period in 2024[7] - Gross profit for the same period was RMB 198,486,000, down 42.5% from RMB 344,727,000 year-over-year[7] - The company reported a profit attributable to equity shareholders of RMB 44,619,000, compared to a loss of RMB 26,234,000 in the previous year[7] - Basic and diluted earnings per share for the period were RMB 0.5, a recovery from a loss of RMB 0.3 per share in the prior year[7] - For the six months ending September 30, 2025, the company reported a net loss of RMB 26,234,000, compared to a loss of RMB 642,437,000 in the previous period[13] - The company reported a profit of RMB 44,619,000 for the six months ending September 30, 2025, compared to a profit of RMB 61,924,000 for the previous six months[14] - The group recorded a net profit of approximately RMB 44.6 million, compared to a net loss of approximately RMB 26.2 million in the same period last year, primarily due to a decrease in investment property valuation losses from RMB 203.8 million to RMB 0.6 million and a reduction in impairment losses on financial and contract assets from RMB 73.7 million to RMB 43.7 million[80] Assets and Liabilities - Total assets as of September 30, 2025, were RMB 2,695,635,000, a decrease from RMB 2,814,958,000 as of March 31, 2025[11] - The company’s non-current assets totaled RMB 1,343,159,000, slightly down from RMB 1,383,336,000[11] - The company’s total liabilities decreased to RMB 2,562,000,000 as of September 30, 2025, from RMB 2,482,188,000 at the end of the previous reporting period[14] - The company’s total liabilities measured at amortized cost were RMB 619,347,000 as of September 30, 2025, down from RMB 763,910,000 as of March 31, 2025[51] - The total assets of the group are approximately RMB 4,038,800,000 as of September 30, 2025, down from RMB 4,198,300,000 as of March 31, 2025[65] Cash Flow and Financing - Cash generated from operating activities for the six months ending September 30, 2025, was RMB 221,948,000, down from RMB 404,255,000 in the same period last year[16] - The company incurred a net cash outflow from financing activities of RMB 109,972,000 for the six months ending September 30, 2025, compared to a net inflow of RMB 33,967,000 in the previous year[18] - The company’s cash and cash equivalents increased to RMB 1,072,312,000 as of September 30, 2025, from RMB 976,157,000 at the beginning of the period[18] - The total bank financing utilized as of September 30, 2025, was RMB 480,458,000, down from RMB 553,118,000 as of March 31, 2025[54] Revenue Breakdown - Revenue from product sales was RMB 1,015,400 for the six months ended September 30, 2025, down 19.1% from RMB 1,256,062 in 2024[23] - Revenue from services increased to RMB 118,624, up 8.3% from RMB 109,124 in 2024[23] - The manufacturing and trading segment generated revenue of approximately RMB 531 million, down 30.9% from RMB 768.7 million in the previous year, significantly impacted by increased export costs due to U.S. tariffs and a shift of customers from China to Southeast Asia[82] - Retail business revenue decreased by 4.6% to approximately RMB 110.8 million, down from RMB 116.2 million in the same period last year, primarily due to a shift towards online shopping and e-commerce[83] - Wholesale business revenue increased by 2.2% to approximately RMB 511 million, compared to RMB 500.2 million in the previous year, driven by improved customer service and sales efforts in the liquor and beverage sector[84] Investment and Valuation - The company experienced a net loss on investment property valuation of RMB 623,000, significantly lower than the loss of RMB 203,831,000 in the previous year[7] - The group recorded a valuation loss of approximately RMB 600,000 on investment properties during the reporting period, influenced by high vacancy rates and a downward market trend[73] - The significant unobservable input used in the fair value measurement of financial assets is the discount rate, which ranged from 4.45% to 13.61% during the six months ending September 30, 2025[62] Corporate Governance and Future Outlook - The company has adopted and complied with all provisions of the Corporate Governance Code, except for the deviation from section C.2 regarding the separation of roles between the Chairman and the CEO[96] - The Audit Committee, consisting of independent non-executive directors, has reviewed the unaudited condensed consolidated interim financial statements for the six months ended September 30, 2025[98] - The company will continue to monitor the U.S.-China trade war, global financial market fluctuations, and industry risks to ensure effective communication with customers and timely adjustments to sales and procurement strategies[87] - The group aims to develop and introduce innovative products that meet the evolving needs of different customer segments, targeting sustained growth and improved overall performance[86]