Financial Performance - For the six months ended June 30, 2023, the company reported total revenue of RMB 25,613,000, an increase of 9.7% compared to RMB 23,341,000 for the same period in 2022[28]. - Gross profit for the six months ended June 30, 2023, was RMB 5,209,000, down 8.8% from RMB 5,709,000 in the previous year[28]. - The company recorded a net loss of RMB 916,000 for the six months ended June 30, 2023, compared to a net loss of RMB 163,000 for the same period in 2022[28]. - Operating cash flow for the six months ended June 30, 2023, was RMB 1,359,000, a decrease from RMB 1,832,000 in the previous year[40]. - The company reported a basic and diluted loss per share of RMB (0.23) for the six months ended June 30, 2023, compared to RMB (0.04) for the same period in 2022[28]. - The group reported a pre-tax profit of RMB 4,375,000 for the six months ended June 30, 2023, compared to RMB 5,202,000 for the same period in 2022, indicating a decrease of 15.9%[47]. - The total other income and net gains for the six months ended June 30, 2023, amounted to RMB 43,000, down from RMB 997,000 in the same period of 2022, reflecting a decrease of 95.7%[45]. - The group recorded a consolidated revenue of approximately RMB 25.6 million for the six months ended June 30, 2023, an increase of approximately RMB 2.3 million or 9.7% compared to the same period in 2022[92]. Revenue Breakdown - Revenue from fiberglass grating was RMB 9,938,000 for the six months ended June 30, 2023, compared to RMB 9,279,000 for the same period in 2022, reflecting a growth of 7.1%[45]. - The revenue from epoxy wedge strips increased significantly to RMB 15,675,000 for the six months ended June 30, 2023, up from RMB 14,062,000 in the same period of 2022, representing an increase of 11.5%[45]. - Revenue from local customers in mainland China reached RMB 21,466,000 for the six months ended June 30, 2023, an increase from RMB 17,886,000 in the same period of 2022[63]. - Domestic market sales increased by approximately 20.0% to about RMB 21.5 million, accounting for approximately 83.8% of total sales for the six months ended June 30, 2023, up from 76.6% in the same period of 2022[92]. Expenses and Costs - The company’s distribution costs increased to RMB 1,233,000 for the six months ended June 30, 2023, compared to RMB 801,000 in the previous year[28]. - Administrative expenses decreased to RMB 4,288,000 for the six months ended June 30, 2023, from RMB 5,668,000 in the same period of 2022[28]. - The group incurred a cost of inventory of RMB 18,197,000 for the six months ended June 30, 2023, compared to RMB 16,844,000 for the same period in 2022, representing an increase of 8%[47]. - Research and development costs for the six months ended June 30, 2023, were RMB 519,000, a decrease of 57.5% from RMB 1,223,000 for the same period in 2022[47]. - The total employee cost for the six months ended June 30, 2023, included approximately RMB 4.4 million in director remuneration, down from RMB 5.2 million for the same period in 2022[109]. Assets and Liabilities - Total assets as of June 30, 2023, were RMB 73,043,000, down from RMB 75,399,000 as of December 31, 2022[30]. - The company's net assets decreased to RMB 69,945,000 as of June 30, 2023, from RMB 70,861,000 at the end of 2022[30]. - The company’s total liabilities were RMB 21,496,000 as of June 30, 2023, slightly up from RMB 21,310,000 as of December 31, 2022[80]. - The total trade and other receivables amounted to RMB 50,339,000 as of June 30, 2023, down from RMB 51,584,000 as of December 31, 2022[71]. - The net amount of trade receivables and bills receivable, after deducting expected credit loss provisions, was RMB 48,026,000 as of June 30, 2023[71]. - The company had trade payables of RMB 2,532,000 and bills payable of RMB 10,023,000 as of June 30, 2023, totaling RMB 12,555,000[80]. Corporate Governance - The company has complied with all applicable corporate governance codes as per GEM listing rules for the six months ended June 30, 2023[8]. - The audit committee has reviewed the unaudited results for the six months ended June 30, 2023, ensuring financial reporting and risk management procedures are in place[9]. - The company has adopted the GEM listing rules regarding directors' dealings in securities, confirming compliance during the reporting period[12]. - The company is led by a board of directors consisting of both executive and independent non-executive members, ensuring diverse governance[23]. - The company has not engaged in any competitive business activities that could conflict with its operations during the reporting period[6]. - The company has confirmed that there were no significant acquisitions or disposals during the reporting period[18]. Future Plans and Developments - The group is currently constructing a new factory in Inner Mongolia to prepare for the production and sale of industrial silica sand, expected to commence in the second half of 2024[100]. - The group plans to enhance its R&D capabilities by controlling raw material sources, procuring new equipment, and hiring professional R&D personnel[89]. - The group aims to improve product recognition through technological advancements while maintaining effective cost control to enhance competitiveness[89]. Miscellaneous - The company did not declare any interim dividend for the six months ended June 30, 2023, consistent with the previous year[1]. - The group has no bank borrowings as of June 30, 2023, and relies on cash generated from operating activities for funding[104]. - The group had 70 employees as of June 30, 2023, an increase from 65 employees as of December 31, 2022[109]. - The group has not engaged in any acquisitions or disposals of subsidiaries or associates during the six months ended June 30, 2023[109]. - The group has not used any financial instruments to hedge foreign exchange risks as of June 30, 2023, although management monitors the exposure and may consider hedging significant risks if necessary[111]. - The group has no assets pledged as of June 30, 2023, which remains unchanged from December 31, 2022[108]. - The group does not anticipate any significant adverse impact from foreign exchange risks on its general operations[111]. - The group has not purchased, sold, or redeemed any listed securities during the six months ended June 30, 2023[129]. - The group has no other significant matters to report as of the report date following June 30, 2023[112].
硅鑫集团(08349) - 2023 - 中期业绩