Financial Performance - For the six months ended June 30, 2023, total revenue increased by 18.5% to approximately RMB191.2 million compared to RMB161.3 million in the same period of 2022[10]. - Gross profit for the same period rose by 22.8% to RMB45.0 million, with a gross profit margin of 23.6%, up from 22.7% in 2022[10]. - The net loss attributable to equity holders increased significantly by 502.7%, amounting to RMB3.1 million, compared to a loss of RMB0.5 million in the prior year[10]. - Revenue from the CMS business slightly increased by 0.5% to approximately RMB119.4 million, accounting for 62.5% of total revenue[14]. - Revenue from the OBM business surged by 68.7%, rising from approximately RMB42.5 million to RMB71.8 million[15]. - The U.S. market contributed approximately 82.6% of total revenue, showing a 15% increase in sales compared to the previous year[16]. - The total comprehensive loss for the period was RMB 4.0 million, compared to a comprehensive income of RMB 2.4 million in the same period of 2022[85]. - Basic and diluted loss per share attributable to equity holders was RMB (0.23) cents, compared to RMB (0.05) cents in the previous year[85]. Assets and Liabilities - Total assets increased by 11.7% to RMB556.5 million, while total liabilities rose by 33.3% to RMB132.0 million[10]. - The current ratio improved to 182.3%, up from 164.6% in the previous period, indicating better short-term financial health[10]. - As of June 30, 2023, total cash and cash equivalents amounted to approximately RMB 117.6 million, an increase of approximately RMB 70.1 million compared to December 31, 2022[45]. - The total bank borrowings as of June 30, 2023, were approximately RMB 77.1 million, up from RMB 71.9 million as of December 31, 2022[50]. - The company's net assets reached RMB 424,480,000 as of June 30, 2023, compared to RMB 398,998,000 at the end of 2022, marking a growth of about 6.4%[89]. - Trade and other receivables increased significantly to RMB 95,448,000 from RMB 70,080,000, representing a growth of approximately 36.3%[88]. Cash Flow and Financing - Cash generated from operating activities was RMB 37,758,000, a significant improvement from a cash usage of RMB 35,555,000 in the previous year[98]. - Net cash generated from financing activities amounted to RMB 33,999,000, compared to RMB 28,498,000 in the prior year[98]. - The company reported a loss for the period of RMB 521,000, which was offset by a total comprehensive income of RMB 2,176,000 for the period[92]. - The company recognized equity-settled share-based payment expenses amounting to RMB 5,405,000 during the period[92]. Operational Highlights - The company plans to diversify its business and broaden revenue streams through acquisitions of intellectual property rights and collaborations with upstream and downstream companies[80]. - The operating environment remains uncertain due to factors such as inflation, rising interest rates, and geopolitical developments[79]. - Research and development costs for the period were RMB 11,102,000, up 30.5% from RMB 8,494,000 in 2022[138]. - The company is engaged in the design, development, production, sales, and marketing of various products, including cosplay items and personal care products[100]. Segment Performance - The CMS business generated revenue of RMB 119.4 million, accounting for 62.5% of total revenue, while the OBM business generated RMB 71.8 million, a significant increase of 68.7% from the previous year[73]. - Revenue from clothing and others segment was RMB 155.9 million, accounting for 81.6% of total revenue, with a growth of 4.1% compared to the previous year[76]. - Segment results for the fabric care, personal hygiene, and home care products segment amounted to RMB 38,319,000 for the first half of 2023, compared to RMB 31,870,000 in the same period of 2022, indicating an increase of about 20.1%[124]. Investment Properties and Assets - The carrying amount of investment properties decreased to RMB75,763,000 as of June 30, 2023, from RMB83,746,000 as of December 31, 2022, representing a decline of approximately 9.5%[158]. - The fair value of the Group's investment properties was RMB95,837,000 as of June 30, 2023, down from RMB108,875,000 as of December 31, 2022, indicating a decrease of about 12%[161]. - Right-of-use assets amounted to RMB4,974,000 as of June 30, 2023, compared to RMB4,676,000 as of December 31, 2022, showing an increase of approximately 6.4%[154]. Credit and Receivables Management - The expected credit loss (ECL) allowance for trade and other receivables was RMB 2,491,000 for the period, reflecting ongoing credit risk management efforts[124]. - The aging analysis of trade receivables shows that 0-30 days receivables increased to RMB 53,784,000 from RMB 31,352,000, a growth of 72%[186]. - The Group requires advance deposits from customers and applies an internal credit assessment policy before accepting new customers[182].
中国派对文化(01532) - 2023 - 中期财报