Financial Performance - The company's revenue decreased by approximately RMB 64.6 million or 30.4% to about RMB 147.7 million for the period, compared to approximately RMB 212.3 million in the corresponding period[13] - Gross profit fell by approximately RMB 10.8 million or 43.9% to about RMB 13.8 million, with a gross margin decline from approximately 11.6% to about 9.3% due to rising costs, particularly shipping[14] - Profit for the period decreased by approximately RMB 4.9 million or 72.1% to about RMB 1.9 million, down from approximately RMB 6.8 million in the corresponding period[17] - The company reported a total comprehensive income of RMB 474,000, significantly lower than RMB 7,082,000 in the same period last year, marking a decline of 93.3%[57] - Basic and diluted earnings per share were RMB 0.005, down from RMB 0.017 in the previous year, reflecting a decrease of 70.6%[57] - The company recorded a profit of RMB 1,936 thousand for the six months ended June 30, 2022, compared to a profit of RMB 6,760 thousand for the same period in 2021, indicating a decrease of about 71.4%[64] Expenses and Costs - Sales and marketing expenses increased by approximately RMB 0.1 million or 6.3% to about RMB 1.7 million for the period[15] - Administrative expenses decreased by approximately RMB 4.5 million or 26.3% to about RMB 12.6 million due to reduced business activity and ongoing cost control measures[16] - The company’s cost of sales was RMB 133,859,000, which is 28.8% lower than RMB 187,705,000 in the previous year[57] - The company incurred raw materials and consumables expenses of RMB 122,781,000, down from RMB 184,207,000 in the previous year[83] - Depreciation and amortization expenses increased to RMB 7,641,000 from RMB 4,771,000 year-on-year[83] Assets and Liabilities - Total assets decreased from RMB 437,706 thousand as of December 31, 2021, to RMB 379,182 thousand as of June 30, 2022, representing a decline of approximately 13.3%[59] - Total liabilities decreased from RMB 217,535 thousand to RMB 158,537 thousand, a decrease of around 27.1%[62] - The company held cash and bank balances of approximately RMB 22,100,000 as of June 30, 2022, down from RMB 36,100,000 as of December 31, 2021[23] - The company's borrowings amounted to approximately RMB 54,700,000 as of June 30, 2022, slightly up from RMB 54,200,000 as of December 31, 2021[23] - The debt-to-equity ratio was 0.7 times as of June 30, 2022, improved from 1.0 times as of December 31, 2021[23] - The current ratio was 1.6 times as of June 30, 2022, compared to 1.4 times as of December 31, 2021[23] - The net current assets were approximately RMB 89,700,000 as of June 30, 2022, an increase from RMB 81,800,000 as of December 31, 2021[23] Market and Operational Developments - The company plans to continue exploring opportunities to expand market share while monitoring developments in the construction industry and the pandemic[20] - The company established a production facility in Qidong, Jiangsu Province, to manufacture and sell PHC piles, ready-mixed concrete, and expanded clay concrete panels[11] - The company remains optimistic about its long-term prospects despite challenges posed by COVID-19 and rising material costs[20] - The company aims to maintain sustainable development by closely monitoring its operating capital[20] Employee and Management Information - As of June 30, 2022, the company employed approximately 54 full-time employees and 177 outsourced workers, compared to 51 full-time employees and 152 outsourced workers as of December 31, 2021[21] - The total remuneration for key management personnel for the six months ended June 30, 2022, was approximately RMB 2,019,000, a slight decrease from RMB 2,046,000 for the same period in 2021[111] Dividends and Shareholder Information - The company did not recommend any interim dividend for the period, compared to an interim dividend of HKD 0.025 per share for the six months ended June 30, 2021[35] - The company did not declare any dividends for the six months ended June 30, 2022, compared to a dividend of HKD 0.025 per share for the same period in 2021[93] - The company has not granted, cancelled, or exercised any share options under the share option scheme since its adoption[46] - The company had a weighted average number of shares outstanding of 400,000,000 for both the six months ended June 30, 2022, and June 30, 2021[94] Cash Flow and Financing Activities - The company reported a net cash outflow from operating activities of RMB 12,781 thousand for the six months ended June 30, 2022, compared to RMB 14,310 thousand for the same period in 2021[67] - Cash and cash equivalents decreased from RMB 36,098 thousand at the beginning of the year to RMB 22,058 thousand at the end of June 30, 2022, a decline of approximately 38.9%[67] - The company’s bank borrowings increased to RMB 30,427 thousand in the first half of 2022 from RMB 107,132 thousand in the same period of 2021, indicating a significant decrease in financing activities[67] Foreign Exchange and Risk Management - The company has not implemented any foreign currency hedging policies but closely monitors relevant foreign exchange rates to manage currency risk[29] - The company reported a foreign exchange gain of RMB 1,637,000 for the six months ended June 30, 2022, compared to a loss of RMB (571,000) in the same period of 2021[7] Customer and Revenue Breakdown - Revenue from PHC piles was RMB 73,626,000, down 35.7% from RMB 114,439,000 in the previous year[81] - Revenue from ready-mixed concrete was RMB 71,865,000, a decrease of 26.5% compared to RMB 97,829,000 in the prior year[81] - Major customer A contributed RMB 21,547,000 to revenue, down from RMB 23,642,000 in the previous year[82]
泰林科建(06193) - 2022 - 中期财报