Financial Performance - Revenue for the six months ended January 31, 2023, was RMB 35,830,000, a decrease of 58% compared to RMB 85,583,000 for the same period in 2022[10] - Gross profit for the same period was RMB 3,591,000, down 64.8% from RMB 10,201,000 in 2022[10] - Operating loss for the six months was RMB 8,166,000, an improvement from a loss of RMB 9,552,000 in the previous year[10] - Net loss attributable to owners of the company was RMB 8,397,000, compared to RMB 7,821,000 in the prior period, reflecting a 7.4% increase in losses[10] - Basic and diluted loss per share for the period was RMB 0.36, compared to RMB 0.34 in the previous year[10] - The company reported a total loss of RMB 8,397 thousand for the period ending August 1, 2022, compared to a loss of RMB 7,821 thousand for the previous period, reflecting a 7.3% increase in losses[21] - The group reported a pre-tax loss of RMB 8,397,000 for the six months ended January 31, 2023, compared to RMB 7,821,000 in 2022, resulting in a basic and diluted loss per share of RMB 0.36[69] - The company reported a loss of RMB 8,400,000, compared to a loss of RMB 7,820,000 in the same period last year[113] Revenue Breakdown - Revenue from the plastic injection molding segment was RMB 28,191,000, down 50% from RMB 56,520,000 year-over-year[48] - The electronic assembly segment generated revenue of RMB 5,900,000, a decline of 78% from RMB 26,860,000 in the previous year[48] - The mold design and manufacturing segment reported revenue of RMB 1,739,000, down 21% from RMB 2,203,000 year-over-year[48] - Revenue from mainland China was RMB 29,642,000, down 52% from RMB 61,729,000 in the previous year[54] - Revenue from the plastic injection molding business was RMB 28,190,000, down RMB 28,330,000 or 50.12% from RMB 56,520,000[114] - Revenue from the assembly of electronic products was RMB 5,900,000, a decrease of RMB 20,960,000 or 78.03% from RMB 26,860,000[115] Assets and Liabilities - Total assets as of January 31, 2023, were RMB 354,328,000, down from RMB 368,536,000 as of July 31, 2022, representing a decrease of 3.8%[15] - Total liabilities decreased to RMB 60,770,000 from RMB 66,581,000, a reduction of 8.7%[18] - The carrying amount of property, plant, and equipment as of January 31, 2023, was RMB 201,835,000, compared to RMB 209,655,000 as of July 31, 2022[73] - Deferred tax liabilities decreased to RMB (920,000) as of January 31, 2023, from RMB (2,325,000) in 2022[66] - Total contract assets decreased significantly from RMB 598,000 as of July 31, 2022, to RMB 47,000 as of January 31, 2023, indicating a decline of approximately 92.1%[79] - Accounts receivable decreased from RMB 18,465,000 as of July 31, 2022, to RMB 10,474,000 as of January 31, 2023, representing a reduction of about 43.3%[82] - The net amount of other receivables, deposits, and prepayments decreased from RMB 22,877,000 as of July 31, 2022, to RMB 17,699,000 as of January 31, 2023, a decline of approximately 22.6%[82] - Inventory total decreased from RMB 29,459,000 as of July 31, 2022, to RMB 25,861,000 as of January 31, 2023, reflecting a decrease of about 12.1%[90] - Total accounts payable decreased from RMB 27,589,000 as of July 31, 2022, to RMB 21,744,000 as of January 31, 2023, indicating a decline of about 21.2%[97] Cash Flow - The net cash generated from operating activities for the six months ended January 31, 2023, was RMB 4,198 thousand, a decrease of 70.8% compared to RMB 14,386 thousand for the same period in 2022[24] - The net cash generated from investing activities increased significantly to RMB 7,744 thousand in the first half of 2023, compared to RMB 1,088 thousand in the same period of 2022, representing a growth of approximately 610%[24] - The net cash from financing activities showed a positive change, generating RMB 5,043 thousand in the first half of 2023, compared to a cash outflow of RMB 8,343 thousand in the same period of 2022[24] - The cash and cash equivalents increased to RMB 85,591 thousand as of January 31, 2023, up from RMB 50,327 thousand as of January 31, 2022, indicating a year-over-year increase of approximately 70%[24] - As of January 31, 2023, the group's cash and cash equivalents, along with restricted bank balances, amounted to RMB 85,590,000, an increase from RMB 74,610,000 as of July 31, 2022[129] Operational Focus and Strategy - The company is focused on improving operational efficiency and exploring new market opportunities in the upcoming periods[8] - The company continues to engage in the manufacturing and sales of plastic injection molded products and electronic assembly, indicating ongoing operational focus[27] - The company plans to streamline operations and improve financial stability by adopting a light-asset and cost model[126] - The group has no significant investments, acquisitions, or disposals planned, focusing instead on streamlining operations and improving financial conditions[133] - The group will continue to monitor foreign exchange risks and ensure they remain at acceptable levels[137] Governance and Compliance - The company has adhered to the corporate governance code, with a noted deviation regarding the roles of the Chairman and CEO[156] - The company has maintained compliance with the securities trading code, with no known violations by directors during the reporting period[157] - The company’s governance structure will be regularly reviewed for effectiveness[156] - The company has not disclosed any significant contracts involving directors with substantial interests during the review period[152] Employee and Human Resources - The group had a total of 193 employees as of January 31, 2023, down from 253 employees as of July 31, 2022, leading to a reduction in human resources costs to RMB 12,010,000 from RMB 22,040,000[138]
威铖国际(01002) - 2023 - 中期财报