Financial Performance - For the six months ended June 30, 2022, the company reported revenue of RMB 6,966,000, a decrease of RMB 29,700,000 or 81.0% compared to RMB 36,619,000 in the same period of 2021[7]. - Gross profit for the same period was RMB 2,719,000, down RMB 1,300,000 or 32.2% from RMB 4,009,000 in 2021[8]. - The company recorded a net loss of RMB 20,031,000 for the six months ended June 30, 2022, compared to a net loss of RMB 76,203,000 in the same period of 2021[9]. - The total comprehensive loss for the period was RMB 15,298,000, significantly reduced from RMB 76,753,000 in the previous year[18]. - The basic and diluted loss per share for the period was RMB 2.88, compared to RMB 15.24 in the same period of 2021[18]. - The decline in revenue was primarily attributed to the impact of COVID-19, which led to the suspension of outbound travel tours and a decrease in sales of "flight + hotel booking" products[7]. - The company reported other income and gains of RMB 978,000, down from RMB 1,996,000 in the previous year[13]. - Administrative expenses increased to RMB 10,988,000 from RMB 8,004,000 in 2021, reflecting higher operational costs[13]. - The company experienced a foreign exchange gain of RMB 4,733,000 during the period, compared to a loss of RMB 550,000 in the same period of 2021[13]. - The group reported a decrease in the cost of services provided to RMB 3,565,000 from RMB 32,610,000 in the previous year[43]. - The group recorded a total compensation of RMB 762 million for key management personnel, up from RMB 510 million in the previous year[99]. - The group recorded a pre-tax loss for the six months ended June 30, 2022, of RMB 19,527,000, compared to a loss of RMB 76,203,000 in 2021[51]. Cash Flow and Financial Position - The company reported a net cash flow from operating activities of RMB (42,782) thousand for the six months ended June 30, 2022, compared to RMB 6,056 thousand in the same period of 2021[25]. - The net cash flow used in investing activities was RMB (36,221) thousand for the first half of 2022, compared to RMB (2,987) thousand in the previous year[25]. - The net cash flow from financing activities increased significantly to RMB 82,142 thousand in the first half of 2022, up from RMB 890 thousand in the same period of 2021[25]. - The total equity of the company as of June 30, 2022, was RMB 93,002 thousand, reflecting an increase from RMB 88,470 thousand at the end of 2021[22]. - The company’s cash and cash equivalents at the end of June 2022 amounted to RMB 49,606 thousand, compared to RMB 25,515 thousand at the end of June 2021[25]. - The company’s total non-current assets were valued at RMB 139,833 thousand, while current assets totaled RMB 234,904 thousand as of June 30, 2022[21]. - The company’s total liabilities amounted to RMB 266,022 thousand, with current liabilities making up RMB 199,913 thousand of this total[21]. - The capital debt ratio decreased to 215.0% as of June 30, 2022, from 843.3% as of December 31, 2021, primarily due to the completion of a rights issue that increased equity[158]. - The group's cash and bank balance increased to RMB 49.6 million as of June 30, 2022, up from RMB 43.1 million as of December 31, 2021[158]. Shareholder Information - The company’s major shareholder, Mr. He, holds 40.96% of the shares, amounting to 327,690,700 shares[182]. - Ms. Qian also holds 327,690,700 shares, equivalent to 40.96% of the total issued share capital, indicating a strong concentration of ownership[194]. - The company has not granted any share options under its share option scheme since its adoption on June 11, 2019[199]. - The shareholding structure indicates a high level of control by a few major shareholders, which may impact corporate governance and decision-making[194]. - As of June 30, 2022, Mr. He directly owns 9,172,000 shares, approximately 1.15% of the issued share capital, and is deemed to have interests in a total of 288,654,700 shares, or about 36.08%[197]. - Ms. Qian is deemed to have interests in 288,654,700 shares, approximately 36.08% of the issued share capital, alongside her direct ownership of 29,864,000 shares, or about 3.73%[198]. Business Operations and Strategy - The group is actively exploring new business opportunities, including the sale of nutritional products like NMN supplements, to diversify revenue streams[104]. - The group launched the "Flying Metaverse" digital cultural collectibles platform, focusing on the combination of digital and physical products, with the first original IP collectible released in May 2022[102]. - The board remains cautiously optimistic about the future market development, believing that the tourism industry will rebound strongly once the pandemic subsides[108]. - The group plans to enhance its digital information technology applications and expand its market reach in digital services[102]. - The company has entered into a non-binding memorandum of understanding to establish a joint venture with Tinian Real Estate Development, LLC, with a proposed total investment not exceeding USD 15 million[180]. - The company plans to establish a joint venture in China to provide a metaverse platform, with a total investment not exceeding RMB 148 million[179]. Impairment and Provisions - The company has adopted a prudent estimate for impairment provisions due to increased credit risk from COVID-19 related disruptions[153]. - Impairment provisions for trade receivables and prepayments amounted to RMB 73.2 million and RMB 87.7 million as of June 30, 2022[151]. - The group has reduced financial asset impairment losses to RMB 1.4 million from RMB 53.7 million in the previous year, indicating improved financial health[104]. Employee and Compensation - The total employee compensation for the period was RMB 6.9 million, down from RMB 8.1 million in the previous year, with a total headcount of 147 employees as of June 30, 2022[175]. - The group’s employee count decreased from 189 as of December 31, 2021, to 147 as of June 30, 2022[175]. Legal and Regulatory Matters - The group has taken legal actions against certain debtors to recover impaired balances, including asset seizures from winning cases[157]. - The company has not entered into any formal agreements regarding the proposed joint ventures as of the report date[180].
飞扬集团(01901) - 2022 - 中期财报