Financial Performance - The Group recorded a turnover of approximately RMB25,447,000 for the six months ended 30 June 2023, representing a decrease of approximately 6% compared to RMB27,063,000 for the same period in 2022[8]. - Profit attributable to owners of the Company for the six months ended 30 June 2023 amounted to approximately RMB14,009,000, a significant recovery from a loss of RMB10,479,000 in the same period of 2022[8]. - Basic earnings per share for the six months ended 30 June 2023 was RMB37.86 cents, compared to a basic loss of RMB30.26 cents for the same period in 2022[8]. - Profit before income tax expense for the six months ended 30 June 2023 was RMB19,011,000, compared to a loss of RMB8,108,000 for the same period in 2022[9]. - Total comprehensive income for the period was RMB13,968,000, a recovery from a loss of RMB4,341,000 in the same period of 2022[9]. - For the six months ended June 30, 2023, the profit attributable to owners of the Company was RMB 14,009,000, compared to a loss of RMB 10,479,000 in the same period of 2022, representing a significant turnaround[10]. - The total comprehensive income for the period attributable to owners of the Company was RMB 13,953,000, compared to a loss of RMB 4,433,000 in the first half of 2022[10]. - The Group's financial performance reflects ongoing adjustments to its revenue streams and cost management strategies in response to market conditions[37]. Revenue and Income - Revenue for the three months ended 30 June 2023 was RMB17,487,000, compared to RMB16,698,000 for the same period in 2022[9]. - Platform services income for the six months ended June 30, 2023, was RMB 24,015,000, down from RMB 26,899,000 in 2022, indicating a decline of about 10.7%[38]. - Revenue from financial service platforms amounted to approximately RMB 24 million, representing a decrease of approximately 10%[93]. - Revenue from loan services, finance leasing, and factoring services amounted to approximately RMB 1.4 million, representing an increase of 773% from RMB 164,000 for the corresponding period last year[93]. - Total revenue and other income for the six months ended June 30, 2023, was RMB 25,447,000, down from RMB 27,063,000 in 2022, indicating a decrease of approximately 6%[38]. Expenses and Costs - Employee benefit expenses for the six months ended 30 June 2023 were RMB3,365,000, down from RMB3,808,000 in the same period of 2022[9]. - The company's employee benefit expenses for the three months ended June 30, 2023, totaled RMB 2,026,000, slightly up from RMB 1,992,000 in the same period of 2022[44]. - The legal and professional fees for the six months ended June 30, 2023, were RMB 2,985,000, down from RMB 3,628,000 in the same period of 2022, indicating a reduction of 17.7%[44]. - Administrative and employee benefit expenses decreased by approximately 63.2% to about RMB 8.97 million, attributed to reduced marketing and advertising fees[99]. - Interest expenses increased by approximately 425% to RMB 105,000 from RMB 20,000 for the corresponding period last year, mainly due to the increase in interests on lease liabilities[94]. Assets and Liabilities - Current assets increased to RMB 92,598,000 as of June 30, 2023, from RMB 49,209,000 as of December 31, 2022, reflecting a growth of 88%[12]. - Cash and cash equivalents rose significantly to RMB 22,119,000 from RMB 4,912,000, indicating a substantial increase in liquidity[12]. - Net current assets improved to RMB 51,729,000 as of June 30, 2023, compared to RMB 14,192,000 at the end of 2022, showing a strong enhancement in financial position[14]. - Total equity increased to RMB 53,013,000 as of June 30, 2023, from RMB 15,493,000 as of December 31, 2022, marking a growth of 242%[14]. - The Company reported a decrease in current liabilities to RMB 40,869,000 from RMB 35,017,000, indicating improved management of obligations[14]. - The loss allowance for loans and accounts receivables was reduced to zero as of June 30, 2023, from RMB 2,634,000 as of December 31, 2022, reflecting improved asset quality[72]. Share Capital and Financing - The Company completed the subscription of 36,042,067 shares with a par value of HK$0.01 each on June 7, 2023[81]. - A total of 36,042,067 new shares were issued at a subscription price of HK$0.72 per share, representing approximately 104% of the existing issued share capital after capital reorganisation[130]. - The gross proceeds from the subscription amounted to approximately HK$25.95 million, with net proceeds of approximately HK$23.95 million[141]. - Approximately HK$10.00 million of the net proceeds will be used for the development and operation of the financial service platform[141]. - Approximately HK$5.00 million will be allocated for the repayment of the Company's indebtedness[141]. - The Company has fulfilled all requirements set out in the Resumption Guidance and has applied for the resumption of trading in its shares effective from June 8, 2023[131]. Corporate Governance and Compliance - The Company has adopted a code of conduct regarding securities transactions by Directors, with no reported non-compliance during the six months ended June 30, 2023[194]. - The Audit Committee reviewed the Group's unaudited condensed consolidated results for the six months ended June 30, 2023, ensuring compliance with applicable accounting standards[199]. - The Company has met the code provisions set out in the Corporate Governance Code as per GEM Listing Rules[189]. Shareholder Information - As of June 30, 2023, Ms. Niu Chengjun holds 36,042,067 shares, representing approximately 51% of the company's total shareholding[177]. - Ming Cheng Investments Limited, wholly owned by Mr. Zheng Weijing, holds 7,354,791 shares, accounting for about 10.41% of the total[177]. - Mr. Zheng Weijing has a total interest of 8,167,395 shares, which includes 812,604 shares directly held and 7,354,791 shares through Ming Cheng Investments Limited, representing approximately 11.56%[177]. - Sino-Africa Resources Holdings Limited, owned by Mr. Huang Xiguang, holds 5,113,520 shares, which is about 7.24% of the total[180]. - Upsoar Limited holds 3,110,373 shares, representing approximately 4.40% of the total[180].
汇联金融服务(08030) - 2023 - 中期财报