Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 431.94 million, a decrease of 18.5% from RMB 524.39 million for the same period in 2021[17]. - Gross profit for the same period was RMB 244.99 million, down 17.4% from RMB 296.56 million in 2021[17]. - The adjusted net loss attributable to equity holders was RMB 20.68 million, compared to a profit of RMB 20.54 million in the same period last year[17]. - Total revenue for the six months ended June 30, 2022, was RMB 431.9 million, a year-on-year decrease of 17.6%[23]. - Net loss attributable to equity holders was RMB 57.1 million, with adjusted net loss of RMB 20.7 million primarily due to operational losses in the interior design and construction business[23]. - The company reported a significant operating loss of RMB 62.7 million before income tax adjustments for the six months ended June 30, 2022[82]. - The company reported a total comprehensive loss of RMB 56,086 thousand for the six months ended June 30, 2022, compared to a total comprehensive income of RMB 51,450 thousand in the previous year[151]. Revenue Breakdown - SaaS and related services revenue was RMB 255.7 million, down 17.4% year-on-year, with active paying merchants decreasing by 3.8% to 5,451[25]. - Revenue from the interior design and construction business was RMB 169.9 million, a decrease of 18.0% year-on-year, impacted by macroeconomic policies and the pandemic[27]. - Total revenue decreased by 17.6% year-on-year to RMB 431.9 million, primarily due to a 14.6% decline in SaaS and marketing services to RMB 239.9 million, a 44.2% drop in supply chain services to RMB 15.8 million, and an 18.0% decrease in interior design and construction to RMB 169.9 million[40]. - Revenue from supply chain services was RMB 15,828 thousand, down from RMB 28,385 thousand, marking a decline of 44.3% year-over-year[198]. - Revenue from interior design and construction services was RMB 169,904 thousand, a decrease of 18.0% from RMB 207,079 thousand in the previous year[198]. Operational Challenges - The company faced significant challenges due to COVID-19, impacting user demand for renovation and construction services[22]. - The logistics disruptions severely affected the supply chain, contributing to the overall performance decline[22]. - The real estate market continues to face significant downward pressure, with no clear signs of recovery in supply-demand relationships and transactions[28]. - The real estate market faced significant downward pressure, with a 23.3% year-on-year decline in completed housing area from January to July 2022[42]. Cash Flow and Liquidity - Cash and cash equivalents increased by 26.4% to RMB 719.9 million compared to RMB 569.8 million as of December 31, 2021[23]. - Cash and cash equivalents as of June 30, 2022, amounted to RMB 475.0 million, down from RMB 548.0 million as of December 31, 2021, representing a decrease of approximately 13.3%[77][78]. - The net cash used in operating activities for the six months ended June 30, 2022, was RMB 134.3 million, compared to a net cash inflow of RMB 21.5 million for the same period in 2021[81]. - The company maintains a healthy liquidity position, closely monitoring its cash flow to meet funding needs[89]. Cost Management - Sales and marketing expenses decreased by 10.8% from RMB 234.3 million to RMB 208.9 million, mainly due to optimized marketing channels and reduced labor costs[65]. - Research and development expenses slightly decreased by 8.0% from RMB 22.1 million to RMB 20.3 million, reflecting improved R&D efficiency[68]. - SaaS and extended services business cost decreased by 41.2% from RMB 38.6 million to RMB 22.7 million, attributed to a reduction in revenue from this segment[56]. Shareholder Information - As of June 30, 2022, Mr. Tang holds 308,377,140 shares, representing approximately 26.93% of the company's voting shares[112]. - Qeeka Holding is the beneficial owner of 294,789,530 shares, representing approximately 25.75% of the company's shares[112]. - The company repurchased 8,827,000 shares at a total cost of approximately HKD 6.2 million during the reporting period, with a maximum price of HKD 0.79 and a minimum price of HKD 0.40 per share[122]. Investment and Financial Assets - The company reported a significant reduction in its investment in financial products, which decreased by 30.7% from RMB 603.0 million to RMB 417.6 million due to a shift to lower-risk fixed deposits[97]. - The company held financial assets at fair value through profit or loss amounting to approximately RMB 448.7 million as of June 30, 2022, down 29.9% from RMB 639.3 million as of December 31, 2021[96]. - The fair value of financial assets measured at fair value through other comprehensive income was RMB 38,360 thousand as of June 30, 2022, compared to RMB 48,388 thousand as of December 31, 2021, indicating a decline of about 20.9%[180]. Employee and Management Information - As of June 30, 2022, the company had a total of 870 full-time employees, primarily located in China, with most based in Shanghai[134]. - The board has resolved not to declare any interim dividends for the reporting period[143].
齐屹科技(01739) - 2022 - 中期财报