Revenue Performance - Revenue from the marble slags business for HY2022 was approximately RMB25.5 million, a decrease of approximately RMB2.8 million or 9.9% compared to RMB28.3 million for HY2021[12]. - The Group's revenue decreased by approximately RMB9.6 million or 27.1% from approximately RMB35.4 million for HY2021 to approximately RMB25.8 million for HY2022[38]. - For the six months ended June 30, 2022, total revenue decreased by 27.1% to approximately RMB25.8 million from RMB35.4 million in the same period of 2021[41]. - Revenue for the six months ended June 30, 2022, was RMB 25,813,000, a decrease of 27.2% compared to RMB 35,420,000 for the same period in 2021[121]. - Revenue from marble slags was RMB 25,498,000, while sales of marble slabs were RMB 0, down from RMB 7,133,000 in the previous year[160]. Sales and Demand - The average selling price of marble slags increased from approximately RMB20.1 per tonne to approximately RMB26.0 per tonne, which partially offset the revenue loss from decreased production volume[12]. - The Group did not record any sales of marble slabs during HY2022 due to tighter credit control measures implemented in response to the property debt crisis affecting construction firms in China[19]. - The Group anticipates continued low sales volume of marble slabs, which may pressure profit growth in the short term[20]. - The demand for marble slags is expected to remain weak in the forthcoming years, impacting business growth[12]. - Sales of marble slabs decreased by approximately RMB7.1 million due to tightened credit terms imposed by the Group[38]. - Sales volume of marble slags decreased by 30.4% to 980,673 tons compared to 1,408,575 tons in the first half of 2021[44]. Financial Losses and Impairments - The Group incurred a loss of approximately RMB22.8 million for HY2022, representing an increase of approximately RMB6.9 million from a loss of approximately RMB15.9 million for HY2021[53]. - The company recorded an impairment loss of RMB 13,951,000 on trade receivables, significantly higher than the RMB 6,729,000 recognized in the previous year[121]. - The total comprehensive loss attributable to owners of the company for the period was RMB 21,757,000, compared to RMB 16,401,000 in the same period last year, indicating a 32.5% increase in comprehensive loss[121]. Operational and Capital Expenditures - The total expenditure of the mining operation was approximately RMB16.3 million for HY2022, down from RMB23.2 million in HY2021[32]. - Capital expenditure for HY2022 amounted to approximately RMB41.2 million, significantly higher than RMB0.4 million in HY2021[60]. - The Group acquired property, plant, and equipment at a cost of RMB 41,200,000, a significant increase from RMB 412,000 in the same period last year[180]. Employee and Staffing Costs - The Group had a total of 42 employees as of June 30, 2022, with total staff costs increasing to approximately RMB4.5 million from RMB2.7 million in HY2021[62]. - The total employee cost for the first half of 2022 was approximately RMB 4,500,000, compared to RMB 2,700,000 in the same period of 2021, with the workforce increasing to 42 employees from 24[67]. Governance and Compliance - The Board of Directors comprised four executive directors and two independent non-executive directors as of June 30, 2022, which is below the minimum requirement under the Listing Rules[89]. - The Company has complied with the Corporate Governance Code except for deviations regarding the separation of the roles of chairman and CEO[73]. - The Company is currently seeking suitable candidates to fill the vacancies of independent non-executive directors to comply with listing rules[93]. - The Company is committed to ensuring compliance with corporate governance codes and listing rules regarding the composition of the board[93]. Cash Flow and Assets - Cash and bank balances decreased to approximately RMB2.9 million from RMB7.1 million as of December 31, 2021[55]. - The company reported a net cash outflow from operating activities of RMB 7,781,000 for the six months ended June 30, 2022, compared to a cash inflow of RMB 6,562,000 in the same period of 2021[130]. - Total assets less current liabilities amounted to RMB 242,530,000, a decrease of 8.2% from RMB 264,330,000 as of December 31, 2021[123]. Legal Matters - The company is currently involved in litigation with claims totaling approximately HK$23.7 million and HK$21.2 million against it, related to loan agreements and alleged breaches of trust[196]. - The company believes no provisions should be made for ongoing litigation as it is at an early stage and unlikely to incur further liability as of June 30, 2022[198].
中国金石(01380) - 2022 - 中期财报