Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 42,862,000, an increase of 130.5% compared to RMB 18,567,000 in the same period of 2022[4] - Gross profit for the same period was RMB 1,718,000, compared to a gross loss of RMB 1,326,000 in 2022[4] - The company reported a net loss of RMB 4,982,000 for the six months ended June 30, 2023, compared to a net loss of RMB 968,000 in the prior year[4] - Total comprehensive loss for the period was RMB 18,682,000, compared to a total comprehensive income of RMB 11,116,000 in 2022[6] - Basic and diluted loss per share for the period was RMB 0.54, compared to RMB 0.05 in the same period of 2022[6] - The company reported a loss attributable to owners of the company of approximately RMB 4,796,000 for the six months ended June 30, 2023, compared to a loss of RMB 415,000 for the same period in 2022[43] Cash Flow and Assets - Cash and cash equivalents at the end of the period were RMB 400,085,000, down from RMB 416,389,000 at the beginning of the period[14] - The company experienced a net cash outflow from operating activities of RMB 13,718,000, compared to a net cash inflow of RMB 55,235,000 in the same period last year[14] - The company's total assets decreased to RMB 449,922,000 from RMB 455,991,000 at the end of 2022[8] - The company's current assets net value was approximately RMB 352.1 million as of June 30, 2023, compared to approximately RMB 365.8 million as of December 31, 2022[65] Revenue Segmentation - For the six months ended June 30, 2023, the total revenue was RMB 42,862,000, with segment revenue from pig slaughtering and meat trading at RMB 39,656,000 and pipeline system products at RMB 3,206,000[21] - Revenue from China was RMB 39,656,000, up 114.5% from RMB 18,449,000 in the previous year, while revenue from Japan increased to RMB 3,206,000 from RMB 118,000[30] - The segment performance showed a loss of RMB 101, with pig slaughtering and meat trading generating a profit of RMB 522, while pipeline system products incurred a loss of RMB 623[21] Liabilities and Provisions - The total liabilities for the reportable segments increased to RMB 38,238,000 from RMB 35,766,000 as of December 31, 2022[26] - The expected credit loss provisions for the current period were RMB 65,000, compared to a reversal of RMB 4,978,000 in the previous period[21] - The expected credit loss provision for trade receivables decreased to RMB 6,592,000 as of June 30, 2023, from RMB 7,273,000 as of December 31, 2022, a reduction of 9.4%[49] Inventory and Receivables - Trade receivables increased to RMB 17,764,000 as of June 30, 2023, from RMB 11,142,000 at the end of 2022[8] - Inventory levels rose to RMB 5,140,000 from RMB 2,110,000 in the previous year[8] - Trade receivables increased to RMB 24,356,000 as of June 30, 2023, from RMB 18,415,000 as of December 31, 2022, representing a growth of 32.5%[49] Corporate Governance and Compliance - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming all directors have complied with it during the six months ending June 30, 2023[96] - The audit committee is responsible for overseeing the financial controls, risk management, and internal control systems, and has reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2023[99] - The company has adhered to the corporate governance code during the six months ending June 30, 2023[98] Future Outlook and Strategy - The group expects a gradual recovery in pig prices and plans to restart pig farming operations later this year to provide quality products to the market[82] - The joint venture is working on obtaining formal slaughtering permits, which are expected to be approved soon, enhancing production efficiency and reducing costs[82] - The group is actively seeking acquisition opportunities for slaughterhouses and farms, as well as exploring new revenue sources such as agricultural products[82] - The new agricultural business is anticipated to contribute additional profits and provide stable, high-quality feed for the group's farming operations[82] - The group aims to play a significant role in the pork supply chain and increase market share, leveraging its experience and existing customer network[82]
惠生国际(01340) - 2023 - 中期财报