Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 3,222,331 thousand, a slight increase of 1.7% compared to RMB 3,167,835 thousand in the same period of 2021[9] - Gross profit decreased to RMB 275,928 thousand, down 37.0% from RMB 438,863 thousand year-on-year[9] - Operating profit for the period was RMB 139,077 thousand, a decrease of 36.5% compared to RMB 219,137 thousand in the previous year[9] - Net profit attributable to equity shareholders was RMB 119,447 thousand, down 26.2% from RMB 162,138 thousand in the same period last year[9] - Basic earnings per share decreased to RMB 13.36, compared to RMB 19.94 in the previous year, reflecting a decline of 32.9%[9] - The company reported a total comprehensive income of RMB 121,736 thousand for the period, down from RMB 162,118 thousand in the previous year[12] - The company’s net profit attributable to shareholders decreased to RMB 119.4 million, down RMB 42.7 million from RMB 162.1 million in the same period last year[128] Assets and Liabilities - Total assets as of June 30, 2022, amounted to RMB 3,075,149 thousand, an increase from RMB 2,605,024 thousand as of December 31, 2021[15] - Current assets increased to RMB 996,471 thousand from RMB 967,917 thousand year-on-year[15] - Total liabilities increased to RMB 2,240,444 thousand, compared to RMB 1,918,608 thousand at the end of 2021[15] - The company’s total equity attributable to shareholders was RMB 1,390,779 thousand as of June 30, 2022, compared to RMB 1,393,175 thousand at the same time in 2021, showing a slight decrease of about 0.2%[22] Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2022, was RMB 212,108 thousand, a significant improvement compared to a cash outflow of RMB 120,413 thousand in the same period of 2021[26] - The company reported a net increase in cash and cash equivalents of RMB 419,982 thousand for the six months ended June 30, 2022, compared to an increase of RMB 124,768 thousand in the prior year[26] - The company invested RMB 52,804 thousand in the purchase of property, plant, and equipment during the six months ended June 30, 2022, down from RMB 67,608 thousand in the same period of 2021, reflecting a reduction of approximately 22%[26] - The company’s financing activities generated a net cash inflow of RMB 252,845 thousand for the six months ended June 30, 2022, compared to RMB 316,182 thousand in the previous year, indicating a decrease of about 20%[26] Revenue Breakdown - Revenue from copper-related products reached RMB 3,037,965,000, an increase from RMB 2,978,349,000 in the previous year, representing a growth of 2.0%[38] - Revenue from online gaming was RMB 3,218,025,000, down from RMB 5,956,000,000, indicating a decline of 46.0%[38] - The company’s total revenue for the six months ended June 30, 2022, was RMB 354,133 thousand, a decrease from RMB 697,943 thousand in the previous year, indicating a decline of about 49%[26] Inventory and Receivables - The cost of inventory for the period was RMB 2,945,004,000, compared to RMB 2,727,108,000, representing an increase of 8.0%[47] - As of June 30, 2022, the total inventory amounted to RMB 2,119,300,000, a decrease from RMB 2,217,505,000 as of December 31, 2021, representing a reduction of approximately 4.4%[58] - The net trade receivables and notes receivable as of June 30, 2022, were RMB 359,491,000, down from RMB 402,205,000 as of December 31, 2021, indicating a decline of about 10.6%[60] Shareholder Information - The company did not declare or distribute any dividends for the period ending June 30, 2022, as per the board's decision[79] - As of June 30, 2022, the total number of issued ordinary shares was 5,000,000,000, with a corresponding amount of HKD 500,000,000[80] - The group held 22,522,000 shares under the share incentive plan as of June 30, 2022, with a total cost of HKD 21,882,000 (approximately RMB 18,419,000)[93] Research and Development - Research and development expenses amounted to RMB 105,836,000, up from RMB 86,451,000, marking an increase of 22.4%[47] - The effective tax rate for the group decreased to 11% from 22% in the previous year, primarily due to tax benefits from qualified R&D expenses[51] Market and Business Strategy - The company continues to explore market expansion opportunities and new product development strategies to enhance future growth prospects[12] - The company continues to focus on the manufacturing and sales of high-precision copper strips and the development and operation of online games, indicating ongoing commitment to its core business areas[29] Employee and Governance - The group employed a total of 1,464 employees as of June 30, 2022, an increase from 1,449 employees on December 31, 2021[141] - The board confirmed compliance with the corporate governance code during the review period[170]
兴业合金(00505) - 2022 - 中期财报