Financial Performance - The company recorded a net loss after tax and total comprehensive income of approximately RMB 12.8 million for the six months ended June 30, 2023, compared to RMB 2.9 million for the same period in 2022[31]. - The group reported a post-tax loss of approximately RMB 12.8 million, an increase from a post-tax loss of approximately RMB 2.9 million for the same period in 2022, primarily due to increased loan defaults from clients in the real estate and construction sectors in Yangzhou[42]. - The company reported a net loss of RMB 12,441,421 for the six months ended June 30, 2023, compared to a net loss of RMB 2,890,627 for the same period in 2022[132]. - The company reported a pre-tax loss of RMB 16,179,311 for the six months ended June 30, 2023, compared to a loss of RMB 2,519,008 in the same period of 2022[113]. - The company recorded a net loss attributable to equity holders of the parent of RMB 12,441,421 for the period, compared to a loss of RMB 2,890,627 in the same period last year[110]. Loan and Impairment Details - The total amount of loans was RMB 944.13 million, with a net impairment loss provision of RMB 33.66 million for the six months ended June 30, 2023[22]. - The impairment loss on goodwill was confirmed at approximately RMB 2.06 million, compared to zero in 2022[1]. - The ratio of impaired loans increased to 5.0% as of June 30, 2023, compared to 3.2% as of December 31, 2022[16]. - The company reported a significant increase in impairment losses on loans and receivables, totaling RMB 33,896,751, compared to RMB 21,964,558 in the previous year[110]. - The impairment loss on receivables and other assets for the six months ended June 30, 2023, was RMB 33,896,751, compared to RMB 21,964,558 for the same period in 2022, showing an increase of about 54.3%[193]. Assets and Liabilities - As of June 30, 2023, the group's total assets were approximately RMB 884.6 million, a decrease of about 1.5% from approximately RMB 897.8 million as of December 31, 2022[42]. - The total assets as of June 30, 2023, amounted to RMB 884,620,514, a decrease from RMB 897,808,664 as of December 31, 2022[111]. - The total liabilities decreased to RMB 17,196,041 from RMB 17,617,820 in the previous period[111]. - The company's total equity as of June 30, 2023, was RMB 867,424,473, down from RMB 880,190,844 at the end of 2022[111]. - The company's net cash flow from operating activities was RMB 390,059, a recovery from a cash outflow of RMB 5,042,264 in the previous year[113]. Income and Expenses - The company reported interest income of approximately RMB 26.1 million for the six months ended June 30, 2023, a decrease of about 0.8% compared to RMB 26.3 million for the same period in 2022[9]. - Administrative expenses decreased by approximately 37.0% to about RMB 5.2 million for the six months ended June 30, 2023, compared to approximately RMB 8.3 million for the same period in 2022[58]. - The company’s employee costs for the six months ended June 30, 2023, amounted to RMB 1,529,910, down from RMB 2,724,047 in the same period of 2022, representing a decrease of approximately 43.9%[193]. - The company’s other income netted RMB 731,318 for the six months ended June 30, 2023, an increase from RMB 584,089 in the same period of 2022, primarily due to reduced expenses from subsidiary operations[29]. - The company reported a tax benefit of RMB 3.4 million for the six months ended June 30, 2023, compared to a tax expense of RMB 0.4 million for the same period in 2022, mainly due to an increase in deferred tax assets[59]. Credit and Risk Management - The company has a credit risk management strategy in place, continuously assessing the credit and financial status of clients to minimize credit risk[87]. - The company has no outstanding hedging instruments as of June 30, 2023, indicating a proactive approach to managing foreign exchange risks[86]. - The company’s management continues to monitor foreign exchange risks and will consider hedging significant foreign exchange exposures as necessary[86]. Shareholder and Capital Structure - The controlling shareholder, Bai Tai Group, holds approximately 40.04% of the equity interest in the company[72]. - The company has a total of 450,000,000 issued domestic shares as of June 30, 2023[93]. - The company maintained a public float of at least 25% of its issued shares as of June 30, 2023[102]. Future Outlook and Strategy - The company plans to continue expanding its loan services to rural areas, aligning with its core business strategy[136]. - The company primarily generates revenue from providing loans to small and micro enterprises in Yangzhou, Jiangsu Province[124]. - The company has no significant divisions other than its lending business[124].
泰和小贷(01915) - 2023 - 中期财报