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正味集团(02147) - 2023 - 中期财报
ZHENGWEI GROUPZHENGWEI GROUP(HK:02147)2023-09-27 08:49

Financial Performance - For the six months ended June 30, 2023, the company recorded total revenue of approximately RMB 191.7 million, an increase of 14.8% compared to RMB 167.0 million for the same period in 2022[15]. - The company's cost of sales for the same period was approximately RMB 127.2 million, up 12.5% from approximately RMB 113.0 million in 2022, primarily due to rising direct material costs[16]. - Gross profit for the six months was approximately RMB 64.6 million, a 19.6% increase from RMB 54.0 million in 2022, with a gross margin of approximately 33.7%, up from 32.3%[17]. - The group's profit for the six months ended June 30, 2023, was approximately RMB 29.7 million, an increase from RMB 20.9 million for the same period in 2022, representing a growth of about 42.2%[24]. - Revenue for the six months ended June 30, 2023, was RMB 191,722,000, representing an increase of 14.8% compared to RMB 166,956,000 for the same period in 2022[65]. - Net profit for the period was RMB 29,662,000, compared to RMB 20,869,000 in the previous year, reflecting an increase of 42.1%[65]. - Basic and diluted earnings per share increased to RMB 0.04 from RMB 0.03, marking a 33.3% rise[65]. Expenses and Cost Management - The group's administrative expenses decreased from approximately RMB 16.7 million in the first half of 2022 to approximately RMB 14.8 million in the first half of 2023, a reduction of about 11.4%[23]. - The distribution and selling expenses remained relatively stable at approximately RMB 13.3 million for the first half of 2022 and RMB 14.5 million for the first half of 2023[22]. - Financial costs reduced to RMB 1,268,000 from RMB 1,814,000, indicating better financial efficiency[65]. - Income tax expense for the six months ended June 30, 2023, was RMB 5.90 million, significantly higher than RMB 1.85 million for the same period in 2022, reflecting a rise in current tax liabilities[91]. Assets and Liabilities - Current assets increased from approximately RMB 209.0 million in the first half of 2022 to approximately RMB 347.6 million in the first half of 2023, primarily due to an increase in cash and cash equivalents of approximately RMB 140.0 million[25]. - Cash and cash equivalents as of June 30, 2023, were approximately RMB 296.8 million, an increase of about 89.3% compared to RMB 156.8 million as of December 31, 2022[27]. - As of June 30, 2023, the group's asset-liability ratio was approximately 9%, down from 15% as of December 31, 2022, primarily due to a decrease in borrowings of approximately RMB 7.8 million and an increase in cash and cash equivalents[32]. - Total liabilities decreased from RMB 116,745 thousand as of December 31, 2022, to RMB 90,103 thousand as of June 30, 2023, a reduction of 22.9%[68]. - Total borrowings amounted to RMB 38,227,000 as of June 30, 2023, down from RMB 46,076,000 as of December 31, 2022, a reduction of about 17.5%[110]. Shareholder Information - Shengyao Investment holds 190,207,478 shares, representing approximately 23.78% of the company's issued share capital[43]. - The major shareholders include Shengyao Investment, which has a 23.78% stake, and Prosperous Season with an 11.64% stake[47]. - Other significant shareholders include Trendy Peak with 12.92% and Best Talent with 6.79%[48]. - The total number of shares held by major shareholders reflects a concentrated ownership structure[46]. Operational Developments - The company plans to introduce new snack products, including vegetable snacks like mushrooms and meat snacks such as boneless chicken feet and beef jerky, to align with evolving consumer preferences[13]. - The company aims to expand its marketing efforts and sales channels, particularly in the southwestern region of China, to enhance brand awareness and maximize shareholder returns[14]. - The company has established a solid customer base, including retailers and corporate clients, with a focus on maintaining high product quality and food safety standards[11]. - The company operates two production facilities in Jiangxi Province, specializing in the processing and packaging of dry food products and snacks[12]. Corporate Governance - The company is committed to high standards of corporate governance, ensuring shareholder interests are protected[55]. - The audit committee reviewed the unaudited interim results and confirmed compliance with applicable accounting standards and regulations[62]. - The group’s financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with relevant accounting policies[80]. Employee Information - The group employed 716 employees as of June 30, 2023, an increase from 671 employees as of June 30, 2022, due to increased production needs[37]. - Compensation for key management personnel increased significantly to RMB 1,069,000 in the six months ended June 30, 2023, compared to RMB 303,000 in the same period of 2022, reflecting a growth of 253%[116]. - Salary and other benefits for key management personnel rose to RMB 1,051,000 in the first half of 2023, up from RMB 285,000 in the prior year, indicating a substantial increase of 269%[116].