Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 60,977,000, a decrease of 34.9% compared to RMB 93,584,000 in the same period of 2022[11] - The net loss attributable to the owners of the Company for the period was RMB 10,562,000, compared to a profit of RMB 3,871,000 in the same period of 2022[11] - Basic and diluted loss per share for the period was RMB 1.0952, compared to earnings of RMB 0.4377 per share in the same period of 2022[11] - Total comprehensive expense for the period attributable to owners of the Company was RMB 10,558,000, compared to a total comprehensive income of RMB 3,516,000 in the same period of 2022[12] - The company reported a loss for the period of RMB 10,562,000 for the six months ended June 30, 2023, compared to a profit of RMB 3,871,000 for the same period in 2022[15] - Loss before taxation for the first half of 2023 was RMB 10,287,000, compared to a profit before taxation of RMB 4,004,000 in the first half of 2022[41] - The Group recorded a revenue decrease of approximately 34.8% during the first half of 2023 compared to the same period in 2022[110] - The net loss for the first six months of 2023 was approximately RMB10.6 million, compared to a net profit of approximately RMB3.9 million during the first half of 2022[110] Revenue Breakdown - Revenue from transportation services was RMB 19,458,000, down 53.4% from RMB 41,725,000 in the previous year[29] - Warehousing service revenue decreased by 46.0% to RMB 9,812,000 from RMB 18,178,000 year-on-year[29] - In-plant logistics service revenue slightly decreased to RMB 31,043,000 from RMB 32,425,000, a decline of 4.3%[29] - Customisation service revenue was RMB 664,000, down 47.0% from RMB 1,256,000 in the prior year[29] - Total external sales for the six months ended June 30, 2023, amounted to RMB 60,977,000, a decrease from RMB 93,584,000 in the same period of 2022[41] Cost Management - Employee benefits expenses decreased to RMB 31,760,000, down 5.3% from RMB 33,544,000 in the same period of 2022[11] - Sub-contracting expenses significantly decreased to RMB 13,058,000, down 61.9% from RMB 34,285,000 in the same period of 2022[11] - The Company reported finance costs of RMB 185,000, a decrease of 79.8% from RMB 916,000 in the same period of 2022[11] - Other expenses increased to approximately RMB28.4 million for the six months ended June 30, 2023, up from RMB21.7 million in 2022, primarily due to higher operating lease rentals and increased legal and professional fees[137] Assets and Liabilities - As of June 30, 2023, total assets less current liabilities amounted to RMB 136,191,000, a decrease from RMB 148,244,000 as of December 31, 2022, reflecting a decline of approximately 8.5%[14] - The net current assets increased to RMB 114,036,000 from RMB 87,367,000, representing a growth of approximately 30.4%[14] - The company's total equity decreased to RMB 133,450,000 as of June 30, 2023, down from RMB 144,008,000 at the end of 2022, indicating a decline of approximately 7.3%[15] - Trade payables as of June 30, 2023, amount to RMB 9.5 million, an increase from RMB 8.1 million as of December 31, 2022[82] Cash Flow - Cash and cash equivalents at the end of the period were RMB 55,392,000, slightly down from RMB 66,958,000 at the end of June 2022[17] - Net cash used in operating activities was RMB 6,623,000 for the six months ended June 30, 2023, compared to a net cash generated of RMB 582,000 in the same period of 2022[17] - The company generated net cash from investing activities of RMB 8,738,000 for the six months ended June 30, 2023, compared to RMB 838,000 in the same period of 2022[17] Strategic Focus - The Company is focusing on cost reduction strategies to improve financial performance in the upcoming periods[9] - The Group plans to actively seek opportunities for strategic business alliances with companies possessing advanced technologies such as AI and robotics to enhance operational efficiency[115] - The Group aims to diversify logistics services across a broader spectrum of industries, including participation in Chinese Medicine-related businesses, to achieve sustainable growth[116] Market Outlook - The logistics market in the PRC is expected to stabilize with economic growth forecasted around 5-6% in 2023, supporting logistics demand[106] - The logistics industry is facing challenges related to slowing economic growth, rising costs, and stricter environmental regulations[106] - The logistics sector in the PRC is expected to continue its recovery in the second half of 2023, driven by e-commerce expansion and government support[114] Share Capital and Options - The company's share capital remained unchanged at RMB 8,139,000 as of June 30, 2023[15] - No share options were granted, exercised, or cancelled during the six months ended June 30, 2023, with 69 million outstanding share options remaining valid until May 31, 2030[90] - The Group issued 176,880,000 new shares on July 7, 2023, raising approximately HK$34.67 million, intended for the development of intelligent logistics services[172] Employee Information - As of June 30, 2023, the Group employed 641 full-time employees, a decrease from 681 employees as of June 30, 2022[161]
乐氏国际控股(01529) - 2023 - 中期财报