Financial Performance - The company reported total revenue of RMB 20,049,000 for the six months ended June 30, 2022, a decrease of 17.5% compared to RMB 24,295,000 for the same period in 2021[4]. - The gross loss for the six months ended June 30, 2022, was RMB 1,333,000, compared to a gross loss of RMB 4,246,000 for the same period in 2021, indicating an improvement[4]. - Operating loss for the six months ended June 30, 2022, was RMB 18,047,000, a decrease of 16.5% from RMB 21,474,000 in the same period of 2021[4]. - The company recorded a net loss of RMB 26,918,000 for the six months ended June 30, 2022, compared to a net loss of RMB 29,049,000 for the same period in 2021, reflecting a reduction in losses[4]. - The company incurred a total comprehensive loss of RMB 29,611 thousand for the period, compared to a loss of RMB 27,158 thousand in the same period of 2021, indicating a 9.0% increase in losses[16]. - The company reported a loss of RMB 29,049 thousand for the period, compared to a loss of RMB 26,918 thousand in the same period of 2021, reflecting a 4.1% increase in losses[16]. - The group’s loss before tax for the period was approximately RMB 29,500,000, an increase of about 10.0% compared to RMB 26,700,000 in the same period last year, attributed to reduced fair value gains from investment properties, decreased revenue, and increased gross loss margin[94]. - The net loss for the period increased by approximately RMB 2,100,000 or 7.9% to approximately RMB 29,000,000 from RMB 26,900,000 in the same period last year, primarily due to reduced fair value gains from investment properties, decreased revenue, and increased gross loss margin, partially offset by a decrease in income tax expenses[96]. Revenue Breakdown - Room revenue for the six months ended June 30, 2022, was RMB 8,861 thousand, down 33.5% from RMB 13,407 thousand in the same period of 2021[25]. - Revenue from the resort and hotel operations decreased by approximately 33.9% to about RMB 19,600,000, with ticket revenue down by 32.9% to approximately RMB 4,100,000[86]. - Revenue from tourism property development dropped by approximately 89.0% to about RMB 400,000, primarily due to continued low demand in the real estate market[88]. - The company generated RMB 4,082 thousand from hot spring valley ticket sales for the six months ended June 30, 2022, a decrease of 32.9% compared to RMB 6,086 thousand in the same period of 2021[25]. - The company’s rental income for the six months ended June 30, 2022, was RMB 1,093 thousand, down 35.6% from RMB 1,697 thousand in the same period of 2021[25]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to RMB 1,013,461,000, down from RMB 1,070,570,000 as of December 31, 2021[9]. - Total liabilities decreased to RMB 655,567,000 as of June 30, 2022, from RMB 687,221,000 as of December 31, 2021[11]. - The total accounts payable as of June 30, 2022, was RMB 41,528 thousand, down from RMB 44,417 thousand as of December 31, 2021, indicating a reduction of about 6.4%[58]. - Bank loans decreased to RMB 240,086 thousand as of June 30, 2022, compared to RMB 251,127 thousand as of December 31, 2021, reflecting a decrease of approximately 4.4%[60]. - The company’s cash and cash equivalents were RMB 165,845,000 as of June 30, 2022, down from RMB 181,301,000 as of December 31, 2021[9]. Cash Flow and Expenses - For the six months ended June 30, 2022, the company reported a net cash inflow from operating activities of RMB 1,189 thousand, a decrease of 95.2% compared to RMB 24,564 thousand in the same period of 2021[18]. - The company’s administrative expenses for the six months ended June 30, 2022, were RMB 15,197,000, a decrease from RMB 16,508,000 in the same period of 2021[4]. - The company’s financing activities resulted in a net cash outflow of RMB 15,380 thousand for the six months ended June 30, 2022, compared to an outflow of RMB 37,673 thousand in the same period of 2021, a reduction of 59.1%[18]. - The company’s total depreciation expense for the period was RMB 14,750 thousand, contributing to a cumulative depreciation of RMB 283,400 thousand as of June 30, 2022[56]. Shareholder Information - As of June 30, 2022, the company has issued a total of 980,000,000 shares, with major shareholders holding significant stakes[112]. - Mr. Han holds 336,500,000 shares, representing 34.34% of the total issued share capital[114]. - Mrs. Han, as a spouse, has rights to 350,900,000 shares, which is 35.81% of the total issued share capital[114]. - Phoenix Virtue Limited, fully owned by Add Hero Holdings Limited, holds 286,000,000 shares, accounting for 29.18% of the total issued share capital[117]. - Mr. Li holds 97,500,000 shares, which is 9.95% of the total issued share capital[114]. Corporate Governance - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[119]. - The company has complied with the corporate governance code, except for the dual role of Mr. Han as both Chairman and CEO, which is under review for compliance[123]. - The board aims to appoint at least one director of a different gender by December 31, 2024, to comply with GEM listing rules[123]. - The company plans to regularly review the necessity of separating the roles of Chairman and CEO to enhance governance[123]. Future Plans and Strategies - The company is considering developing five-star hotels and wellness facilities through self-use or leasing, which will be included in the hotel and resort operations segment[30]. - The company aims to continue enhancing its position in the hot spring and hotel industry, as stated in its business objectives[74]. - The company is actively pursuing strategic partnerships to bolster its growth and market expansion efforts[150]. - The company is focused on expanding its market presence through new product and technology development[150].
古兜控股(08308) - 2022 - 中期财报