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中国升海集团(01676) - 2022 - 中期财报
SHENGHAI GROUPSHENGHAI GROUP(HK:01676)2023-03-30 09:03

Revenue Performance - The Group's revenue surged 3 times to approximately RMB 348.4 million during the reporting period[15] - Total revenue for the Group increased to approximately RMB348.4 million, up from approximately RMB86.5 million in the previous year[25] - Revenue for the twelve months ended December 31, 2022, was RMB 348,438,000, a significant increase from RMB 86,506,000 in 2021, representing a growth of approximately 303%[107] - Revenue from marine products sales reached RMB 347,834,000 in 2022, a significant increase from RMB 84,055,000 in 2021, representing a growth of 314%[143] - The Group's revenue from food business surged threefold from approximately RMB84.1 million in 2021 to approximately RMB347.8 million during the Reporting Period[21] Profitability and Loss - Gross profit recorded approximately RMB 11.0 million, with a gross profit margin plummeting to 3.1% compared to 11.4% in the previous year[15] - The Group reported a greater loss of approximately RMB 103.5 million, an increase from a loss of RMB 97.7 million in the previous year[15] - The company reported a loss before income tax of RMB 104,366,000 for the twelve months ended December 31, 2022, compared to a loss of RMB 96,321,000 in 2021, reflecting a deterioration of approximately 8.5%[107] - For the twelve months ended December 31, 2022, the total comprehensive loss amounted to RMB 108,744,000, compared to a loss of RMB 97,101,000 in 2021, representing an increase of approximately 11.9%[109] - The loss attributable to the owners of the Company for the period was RMB 103,523,000, up from RMB 97,446,000 in the previous year, indicating a year-over-year increase of about 6.5%[109] Expenses and Costs - Selling and distribution expenses increased due to higher sales incentives and promotional activities during the Reporting Period[33] - Selling and distribution expenses increased to RMB 107,205,000 from RMB 31,380,000 in 2021, marking an increase of approximately 242%[107] - Administrative expenses rose primarily due to increased headquarters expenses during the period[34] - Costs of inventories for 2022 amounted to RMB 337,464,000, significantly higher than RMB 73,302,000 in 2021[159] Assets and Liabilities - Net current assets decreased from approximately RMB334.9 million as of December 31, 2021, to approximately RMB258.2 million as of December 31, 2022[43] - Cash and cash equivalents significantly dropped from RMB 176,402,000 in 2021 to RMB 90,404,000 in 2022, a decrease of around 48.9%[112] - Total liabilities increased from RMB 31,185,000 in 2021 to RMB 50,079,000 in 2022, marking an increase of approximately 60.7%[112] - Net assets decreased from RMB 358,992,000 in 2021 to RMB 264,738,000 in 2022, a decline of about 26.3%[113] Share Capital and Financing - The company issued new shares resulting in net proceeds of RMB 14,490,000 in 2022, an increase from RMB 9,976,000 in 2021, showing a positive trend in capital raising efforts[120] - The issued and fully paid share capital increased to RMB 10,383,000 in 2022 from RMB 9,388,000 in 2021, reflecting new share subscriptions[189] - The company completed a subscription of 12,000,000 shares at a price of HK$1.5 per share, raising net proceeds of approximately HK$17.4 million on April 14, 2022[191] Employee and Management Information - The Group had 389 full-time employees as of December 31, 2022, an increase from 313 employees as of December 31, 2021[60][65] - The remuneration for directors in 2022 totaled RMB2,398,000, a decrease from RMB5,249,000 in 2021, reflecting a reduction in short-term benefits[197] - The company’s total short-term benefits for key management personnel decreased significantly from RMB5,207,000 in 2021 to RMB2,374,000 in 2022[197] Corporate Governance and Compliance - The company has complied with the Corporate Governance Code throughout the six months ended December 31, 2022[98] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the interim results for the twelve months ended December 31, 2022[103] - The company plans to seek compliance with code provision A.2.1 by appointing a suitable candidate for the chief executive officer position in the future[99] Strategic Initiatives - The Group aims to diversify its sources of income to stabilize financial performance amid improving sales in the food business[75] - The company aims to enhance promotional efforts and expand sales channels to solidify growth momentum due to improved food sales[77] - The group is focused on expanding its existing food business layout through strategic partnerships and market opportunities[77] Market and Customer Insights - All revenue was generated from domestic sales within the PRC, Hong Kong, and South Korea, with no customer contributing 10% or more of the Group's revenue during the twelve months ended December 31, 2022[144][145] - The Group's major customers did not contribute significantly to revenue, with no single customer accounting for 10% or more of total revenue in 2022[144] Research and Development - Research expenditure increased to RMB 780,000 in 2022 from RMB 652,000 in 2021, indicating a focus on innovation[159]