Financial Performance - The total revenue for the group was approximately RMB 86.0 million, a decrease of about 31.3% compared to RMB 125.3 million in the same period last year[9] - The gross profit recorded was approximately RMB 20.2 million, with a gross margin of about 23.4%, down from 26.7% in the previous year[9] - The group reported a loss attributable to equity holders of approximately RMB 23.5 million, compared to a profit of RMB 9.5 million in the same period last year[9] - Revenue for the reporting period was approximately RMB 86.0 million, a decrease of about RMB 39.3 million or 31.3% compared to RMB 125.3 million in the same period last year[19] - ODM product segment revenue was approximately RMB 62.4 million, down by about RMB 33.0 million or 34.6% from RMB 95.4 million year-on-year[19] - Brand product segment revenue decreased to approximately RMB 23.6 million, a reduction of about RMB 6.2 million or 20.8% from RMB 29.8 million in the previous year[21] - Gross profit for the reporting period was approximately RMB 20.2 million, a decline of about RMB 13.2 million or 39.5% from RMB 33.4 million year-on-year[22] - Other income and gains fell to approximately RMB 3.3 million, a decrease of about RMB 27.7 million or 89.4% compared to RMB 31.0 million in the previous year[23] - The group reported a total comprehensive loss attributable to equity holders of approximately RMB 23.1 million, a decrease of about RMB 40.6 million from a profit of RMB 17.5 million in the same period last year[30] - The company reported a loss before tax of RMB 29,276 thousand compared to a profit of RMB 9,186 thousand in the previous year[82] - The company experienced a net loss of RMB 23,455 thousand during the period, compared to a profit of RMB 9,468 thousand for the same period in 2021, indicating a significant downturn in performance[92] Operational Changes - The number of self-operated retail stores decreased from 179 to 142, including 116 self-operated stores and 26 franchised stores as of June 30, 2022[12] - The group continues to streamline its retail network by closing underperforming stores as part of a cost-reduction plan initiated at the beginning of 2022[12] - The group plans to adjust its business model by cutting unprofitable lines and focusing on effective customer orders to enhance cash flow and profitability[31] - The group aims to maintain cash flow and reduce operating costs in response to the challenging economic environment[32] Investment and Financing - As of June 30, 2022, the company had cash and cash equivalents of approximately RMB 72 million, a decrease from RMB 87 million as of December 31, 2021[34] - Interest-bearing liabilities amounted to approximately RMB 151.3 million as of June 30, 2022, compared to RMB 144.8 million as of December 31, 2021, with an interest rate ranging from approximately 4.35% to 6.0%[34] - The company's debt-to-equity ratio was approximately 42.8% as of June 30, 2022, up from 40.8% as of December 31, 2021[34] - Total capital commitments were RMB 37.4 million as of June 30, 2022, down from RMB 58.5 million as of December 31, 2021, primarily related to the construction of the Beiyuan production base[37] - The net proceeds from the IPO amounted to approximately HKD 131.3 million, with unutilized proceeds of HKD 3.8 million as of June 30, 2022[44] - Approximately 14.5% of the net proceeds from the IPO have been allocated to supplement working capital, with employee salaries and raw material procurement accounting for about 35% and 65%, respectively[48] - The company plans to establish a production base in Shangrao, Jiangxi, with an expected completion date before December 31, 2024[48] Corporate Governance - The board of directors has adopted high standards of corporate governance to protect shareholder interests and enhance corporate value[57] - The audit committee, composed of three independent non-executive directors, reviewed the unaudited interim financial statements for the six months ending June 30, 2022[59] - The company has complied with all applicable corporate governance code provisions during the reporting period[58] - The company has a share option scheme adopted on March 19, 2019, as a reward for directors and senior management[52] Market and Product Development - The group is focusing on brand management and increasing brand awareness through various promotional channels, including advertising and participation in fashion shows[11] - The group is expanding its online presence by collaborating with well-known e-commerce platforms and live-streaming promotion companies[12] - The group aims to enhance its manufacturing solutions for ODM clients in China and overseas, focusing on seamless and traditional intimate apparel products[8] - The group launched 110 different types of products during the reporting period, with R&D expenses amounting to RMB 13.1 million, an increase from RMB 12.1 million in 2021[13] - Research and development expenses increased to RMB 13,082,000 from RMB 12,076,000 year-over-year, highlighting the company's commitment to innovation[114] Employee and Workforce - The number of full-time employees decreased to approximately 650 as of June 30, 2022, down from 692 on December 31, 2021[18] - Total remuneration for key management personnel was RMB 1,096,000 for the six months ended June 30, 2022, down from RMB 1,301,000 in the same period of 2021[140] Assets and Liabilities - Non-current assets increased to RMB 395,451 thousand as of June 30, 2022, from RMB 355,815 thousand at the end of 2021, reflecting a growth of 11.1%[87] - Current assets decreased to RMB 184,872 thousand from RMB 237,916 thousand, a decline of 22.3%[87] - Total liabilities increased to RMB 257,738 thousand as of June 30, 2022, compared to RMB 248,998 thousand at the end of 2021[89] - The company's net asset value decreased to RMB 322,585 thousand from RMB 345,733 thousand, a reduction of 6.7%[89] - Trade receivables as of June 30, 2022, amounted to RMB 31,038,000, a decrease from RMB 65,058,000 at the end of 2021, indicating improved collection efficiency[128] - Trade payables as of June 30, 2022, were RMB 28,949,000, down from RMB 38,189,000 at the end of 2021, suggesting better cash flow management[129] Miscellaneous - The company did not declare an interim dividend for the reporting period, consistent with the previous year[62] - The company has not faced significant foreign exchange risks during the reporting period due to limited fluctuations in the exchange rates of RMB against USD and HKD[35] - The company had no significant acquisitions or disposals during the reporting period[36] - The company did not engage in any share buybacks or acquisitions during the reporting period[77] - There are no future plans for significant investments or capital assets beyond those disclosed in the prospectus and previous announcements[54] - The company has not made any significant investments in other companies during the reporting period[53] - The company reported no significant contingent liabilities as of June 30, 2022[132] - There were no events after the reporting period that required disclosure as of the approval date of the financial statements[144]
博尼控股(01906) - 2022 - 中期财报