Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 835,643 thousand, an increase of 9.3% compared to RMB 764,715 thousand in the same period of 2022[4] - Gross profit for the same period was RMB 53,178 thousand, representing a significant increase of 54.5% from RMB 34,401 thousand in 2022[4] - Operating profit rose to RMB 20,777 thousand, compared to RMB 3,615 thousand in the previous year, marking a substantial improvement[4] - The net profit attributable to equity shareholders for the period was RMB 10,144 thousand, a turnaround from a loss of RMB 5,144 thousand in 2022[4] - The total comprehensive income for the period was RMB 10,339 thousand, compared to a loss of RMB 5,436 thousand in the previous year[6] - Basic earnings per share for the six months ended June 30, 2023, were RMB 10,144,000, compared to a loss of RMB 5,144,000 in 2022, showing a turnaround in profitability[32] - The company recorded a profit of approximately RMB 10,144,000 for the six months ended June 30, 2023, compared to a loss of RMB 5,144,000 in the same period of 2022[78] Revenue Breakdown - Revenue from the sale of cold-rolled hard steel sheets was RMB 54,843 thousand, up from RMB 38,768 thousand in 2022[20] - Revenue from the sale of non-color coated hot-dip galvanized steel products reached RMB 470,341 thousand, compared to RMB 435,789 thousand in the previous year[20] - Revenue from the sale of color-coated hot-dip galvanized steel products was RMB 309,354 thousand, an increase from RMB 290,158 thousand in 2022[20] - The total customer contract revenue for the six months ended June 30, 2023, was RMB 835,643 thousand, compared to RMB 764,715 thousand in the same period of 2022[20] - The geographical revenue breakdown shows that revenue from China was RMB 755,120,000, up from RMB 672,667,000 in 2022, reflecting a growth of approximately 12.3%[26] Cash Flow and Assets - Total assets as of June 30, 2023, amounted to RMB 1,329,047 thousand, up from RMB 1,269,729 thousand at the end of 2022[8] - Current assets increased to RMB 1,329,047 thousand, while current liabilities slightly decreased to RMB 867,548 thousand, resulting in a net current asset value of RMB 461,499 thousand[8] - The company reported a basic and diluted earnings per share of RMB 0.02 for the first half of 2023, compared to a loss per share of RMB 0.01 in the same period last year[4] - The company’s cash and cash equivalents stood at RMB 210,189 thousand, a slight decrease from RMB 213,321 thousand at the end of 2022[8] - The company reported a net cash decrease of RMB 18,288 thousand in cash and cash equivalents for the six months ended June 30, 2023[12] Operating Activities - The net cash used in operating activities for the six months ended June 30, 2023, was RMB (39,387) thousand, a decrease from RMB 79,631 thousand in the same period of 2022[12] - Total cash used in investing activities increased to RMB (27,550) thousand in 2023 from RMB (22,090) thousand in 2022[12] - The net cash generated from financing activities was RMB 48,649 thousand, compared to a cash used of RMB (13,632) thousand in the previous year[12] Cost and Expenses - Employee costs decreased slightly to RMB 26,495,000 in 2023 from RMB 27,177,000 in 2022, a reduction of approximately 2.5%[29] - Depreciation and amortization for owned properties, plants, and equipment was RMB 16,785,000 in 2023, down from RMB 24,641,000 in 2022, indicating a decrease of approximately 31.9%[30] - Administrative expenses increased by approximately 16.8% to RMB 10,877,000, primarily due to charitable donations of RMB 1,000,000[74] - Financial costs decreased by approximately 16.1% to RMB 9,662,000, mainly due to reduced interest on discounted notes[75] Inventory and Trade Receivables - As of June 30, 2023, inventory amounted to RMB 420,621,000, an increase from RMB 380,537,000 as of December 31, 2022[38] - Trade receivables, net of impairment, were RMB 156,561,000 as of June 30, 2023, up from RMB 146,976,000 as of December 31, 2022[40] Financing and Debt - As of June 30, 2023, the group's bank financing amounted to RMB 954,000,000, with utilized financing of RMB 479,500,000[52] - Long-term bank loans increased from RMB 41,000,000 as of December 31, 2022, to RMB 100,500,000 as of June 30, 2023[51] - The group's debt-to-equity ratio was approximately 0.7 as of June 30, 2023, compared to 0.6 as of December 31, 2022[81] Business Strategy and Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[4] - The group expects steady growth in order volume in the second half of the year, with a sales target of 290,000 tons for the full year[63] - The company plans to continue seeking business opportunities related to property management in the Philippines and other countries to enhance long-term value[66] Shareholder Information - As of June 30, 2023, Mr. Mei Ze Feng holds 343,220,000 shares, representing 56.61% of the company's equity[103] - Ms. Liu Ping holds 85,500,000 shares, representing 14.10% of the company's equity[103] - Newrich Limited and Star Century Corporate Limited are significant shareholders, holding 56.61% and 14.10% of the company's equity, respectively[105] Compliance and Governance - The company has confirmed compliance with the standard code of conduct regarding securities trading by all directors as of June 30, 2023[102] - No significant acquisitions or disposals of subsidiaries or associates occurred in the six months ending June 30, 2023[90] - The board did not recommend any interim dividend for the six months ending June 30, 2023[92]
康利国际控股(06890) - 2023 - 中期财报