Financial Performance - The total new contracts signed by the company amounted to RMB 215,800,000, a decrease of 24.1% compared to the same period last year[10]. - The company's revenue for the period was RMB 243,600,000, representing a decrease of 21.8% year-on-year[11]. - The loss attributable to equity holders of the parent company was RMB 6,000,000, compared to a profit of RMB 29,600,000 in the same period last year[12]. - The decline in railway business contracts was attributed to a decrease in fixed asset investment in railways and delays in project bidding due to the pandemic[22]. - Total revenue for the first half of the year was RMB 243.6 million, down from RMB 311.4 million in the same period last year, reflecting a decline of 21.8%[26]. - The company reported a net profit of RMB 21,468,000 for the six months ended June 30, 2022, compared to RMB 41,737,000 in the previous year, indicating a decline of 48.6%[141]. - The earnings attributable to the owners of the company were a loss of RMB 5,959,000, contrasting with a profit of RMB 29,639,000 in the same period last year[141]. - The group reported financial income of RMB 2,094 thousand, a decrease from RMB 3,033 thousand in the previous year[188]. Revenue Breakdown - The power segment reported a revenue of RMB 113.8 million, an increase of RMB 16.3 million or 16.7% compared to the same period last year, primarily due to the growth in revenue from the AHLONE power plant and the commencement of single-cycle power generation at the Hlawga project in Myanmar[28]. - The railway segment confirmed a revenue of RMB 129.9 million, a decrease of RMB 84.1 million or 39.3% year-on-year, attributed to the impact of COVID-19 on the railway communication market and delays in project deliveries[27]. - The value-added operations and services segment reported a revenue of RMB 126.2 million, an increase of RMB 2.9 million or 2.4% year-on-year[34]. - The product and professional solutions segment confirmed a revenue of RMB 117.4 million, a decrease of RMB 70.8 million or 37.6% compared to the same period last year[33]. - The railway business generated revenue of RMB 129,850 thousand, while the power business contributed RMB 113,784 thousand[180]. Profitability and Margins - The gross profit recorded was RMB 115,900,000, remaining stable compared to the same period last year, with a gross margin of 47.6%, an increase of 10.3 percentage points year-on-year[12]. - The gross profit for the first half was RMB 115.9 million, with a gross margin of 47.6%, up from 37.3% in the previous year[37]. - The gross profit from the power segment was RMB 88.7 million, an increase of RMB 13.8 million, with a gross margin of 78.0%, up from 76.9% year-on-year[40]. - The gross profit from the railway segment was RMB 27.2 million, a decrease of RMB 14.2 million, with a gross margin of 21.0%, an increase of 1.7 percentage points compared to the previous year[39]. Expenses and Costs - Selling expenses and administrative costs amounted to approximately RMB 53.8 million, an increase of RMB 1.6 million compared to the previous year[47]. - The sales and administrative expenses related to daily operations for the first half of the year amounted to RMB 61,400,000, an increase of RMB 4,800,000 compared to RMB 56,600,000 in the same period last year[51]. - The net financial expenses for the first half of the year were RMB 3,700,000, a decrease of RMB 3,600,000 from the previous year, primarily due to reduced interest expenses from decreased bank loans[51]. - The company reported a depreciation and amortization expense of RMB 21,836,000, which is an increase of 24.9% from RMB 17,557,000 in the previous year[157]. - The company’s financial costs decreased to RMB 5,767,000 from RMB 10,322,000, representing a reduction of 44.8%[157]. Taxation - The total income tax expense for the first half of the year was RMB 3,900,000, down from RMB 19,100,000 in the same period last year, mainly due to reduced tax expenses from Myanmar[53]. - The company's income tax expense for the six months ended June 30, 2022, was RMB 3,935,000, a decrease of 79.4% compared to RMB 19,094,000 for the same period in 2021[198]. - The current income tax for China was RMB 1,625,000, down from RMB 5,325,000 in the previous year, indicating a significant reduction in tax liabilities[198]. Shareholder Information - Mr. Jiang Hailin holds a beneficial interest in 645,912,777 shares, representing 38.54% of the company[71]. - Mr. Liao Jie holds a beneficial interest in 105,758,203 shares, representing 6.31% of the company[71]. - Major shareholders include Holdco, which holds 645,912,777 shares, representing 38.54% of the issued share capital[110]. - Central Huijin Investment Co., Ltd. and China Construction Bank Corporation each hold 215,000,000 shares, accounting for 12.83% of the issued share capital[110]. - Joyful Business Holdings Limited holds 105,758,203 shares, representing 6.31% of the issued share capital[110]. Cash Flow and Liquidity - The group's cash net amount increased to RMB 38,600,000 from RMB 33,400,000 at the end of the previous year, an increase of RMB 5,200,000[60]. - The total cash and cash equivalents at the end of the period were RMB 340,180,000, up from RMB 184,192,000 at the end of the same period last year, reflecting a 84.5% increase[159]. - The cash flow from financing activities showed a net inflow of RMB 44,690,000, a significant improvement from RMB (16,392,000) in the prior year[159]. - The company’s cash flow from operating activities netted RMB 61,129,000, a significant increase from RMB 19,257,000 in the same period last year[157]. Corporate Governance - The company has maintained compliance with corporate governance codes throughout the reporting period[126]. - The audit committee has reviewed the accounting principles and internal controls for the unaudited interim results for the six months ending June 30, 2022[69]. - The board does not recommend the payment of an interim dividend for the six-month period ending June 30, 2022[68].
中国智能交通(01900) - 2022 - 中期财报