Financial Performance - The Group's revenue for the period was approximately RMB 744,000, representing a slight increase of 2.05% compared to RMB 729,000 in the corresponding period of 2022[8]. - Loss before tax for the period amounted to RMB 4,632,000, an increase of 76.93% from a loss of RMB 2,618,000 in the corresponding period of 2022[9]. - Loss per share was approximately RMB 0.0026, compared to a loss per share of RMB 0.0013 in the corresponding period of 2022[9]. - For the six months ended June 30, 2023, the company reported a revenue of RMB 744,000, compared to RMB 729,000 for the same period in 2022, reflecting a growth of approximately 2.1%[75]. - The gross profit for the same period increased to RMB 702,000, up from RMB 566,000 in 2022, representing a growth of approximately 24.0%[75]. - The loss for the period was RMB 4,633,000, compared to a loss of RMB 2,686,000 in 2022, indicating a deterioration of approximately 72.6%[77]. - Total comprehensive expense for the period amounted to RMB 4,660,000, compared to RMB 2,687,000 in 2022, marking an increase of approximately 73.5%[77]. - The loss for the period ended June 30, 2023, was RMB 3,856,000, compared to a loss of RMB 1,954,000 for the same period in 2022, indicating an increase in loss of approximately 97.2% year-over-year[146]. Assets and Liabilities - As of June 30, 2023, the Group's total assets amounted to RMB 728,066,000, representing a decrease of 2.79% from RMB 748,981,000 as of December 31, 2022[35]. - The Group's net current assets were approximately RMB 180,017,000 as of June 30, 2023, an increase from RMB 178,344,000 as of December 31, 2022[36]. - The current ratio improved to 2.13 times as of June 30, 2023, compared to 2.02 times as of December 31, 2022[37]. - As of June 30, 2023, total assets less current liabilities were RMB 569,162,000, a slight decrease from RMB 573,636,000 at the end of 2022[80]. - The company's net assets as of June 30, 2023, were RMB 568,691,000, down from RMB 573,351,000 at the end of 2022, indicating a decrease of approximately 0.6%[80]. - As of June 30, 2023, the Group had no bank loans, with a current ratio of 2.13 (December 31, 2022: 2.02) and a debt-to-asset ratio of 0.22 (December 31, 2022: 0.23)[39]. - Trade payables as of June 30, 2023, totaled RMB 108,584,000, a decrease from RMB 116,144,000 as of December 31, 2022[163]. Cash Flow - For the six months ended June 30, 2023, the net cash used in operating activities was RMB (106,000), a significant improvement compared to RMB (31,340,000) for the same period in 2022[91]. - The net cash from investing activities was RMB 7,000, contrasting with a net cash outflow of RMB (1,904,000) in the previous year[91]. - The cash and cash equivalents at the end of the period were RMB 6,087,000, down from RMB 6,700,000 at the end of June 2022[91]. Investments and Projects - The infrastructure construction business did not record any revenue during the period due to the incomplete settlement of the Zhongfang Chaozhou Jing Nan Industrial Park Project[11]. - The settlement work for the main portion of the Project is expected to be completed within 2023, following ongoing discussions and data reconciliation among all parties involved[15]. - The Group is developing properties in Shennongjia, with a total site area of approximately 35,506 sq.m. for commercial hotel service use[18]. - Construction of the Shennongjia Hotel has faced slight delays due to local government restrictions on transportation of construction materials during peak travel season[19]. - The Group plans to explore investment and construction projects through strong management connections and public/private tenders[20]. - The Group is actively seeking development opportunities in various formats within the property investment sector, including commercial property management and sports venues[30]. Employee and Management Costs - The total emoluments for the Group's 51 employees amounted to approximately RMB 3,073,000 for the period, a decrease from RMB 3,287,000 in the corresponding period of 2022[58]. - Key management personnel's remuneration decreased to RMB 849,000 in 2023 from RMB 998,000 in 2022, reflecting a reduction of approximately 14.97%[171]. - The Group's staff costs for the six months ended June 30, 2023, were RMB 3,073,000, a decrease from RMB 3,287,000 in the same period of 2022[128]. Shareholder and Equity Information - On June 14, 2023, the Group agreed to sell 5,000,000 shares of Chaozhou Rural Commercial Bank for RMB 12,000,000, representing approximately 0.19% of the total issued share capital[49]. - The company did not recommend the payment of interim dividends for the period, consistent with the previous year[191]. - The total equity attributable to owners of the company at June 30, 2023, was RMB 569,851,000, a decrease from RMB 573,734,000 at the beginning of the year[84]. Compliance and Governance - The audit committee reviewed the unaudited condensed consolidated financial information for the period, ensuring compliance with financial reporting standards[190]. - The company complied with all provisions of the Corporate Governance Code during the period, except for the insurance cover for directors[187]. - The company has adopted the standard code of conduct for directors' securities transactions as per the Listing Rules Appendix 10, confirming compliance by all directors during the period[193].
沈阳公用发展股份(00747) - 2023 - 中期财报