Financial Performance - For the six months ended December 31, 2023, the company's revenue was RMB 39,385,000, a decrease of 13.1% compared to RMB 45,723,000 for the same period in 2022[4] - The cost of sales for the same period was RMB 27,056,000, down from RMB 32,634,000, resulting in a gross profit of RMB 12,329,000, which is a decline of 5.8% from RMB 13,089,000[4] - Operating loss increased to RMB 4,619,000 compared to a loss of RMB 909,000 in the previous year, indicating a significant deterioration in operational performance[4] - The net loss for the period was RMB 4,983,000, compared to a net loss of RMB 1,754,000 in the same period last year, reflecting a worsening financial situation[4] - The group reported a pre-tax loss of RMB 5,939,000 for the six months ended December 31, 2023, compared to a loss of RMB 3,827,000 for the same period in 2022[26] - The basic loss per share for the period was RMB (0.002) compared to RMB (0.001) in the previous year, indicating increased losses per share[4] - Gross profit for the period was RMB 12 million, down from RMB 13 million year-on-year[35] - Operating loss for the period was RMB 5 million, compared to a loss of RMB 1 million in the previous year[35] Assets and Equity - Total assets as of December 31, 2023, were RMB 203,783,000, a decrease from RMB 210,094,000 as of June 30, 2023[5] - The company's cash and bank balances stood at RMB 106,322,000, slightly down from RMB 109,031,000[5] - The equity attributable to the owners of the company was RMB 199,090,000, down from RMB 205,970,000[5] - Total equity as of December 31, 2023, was RMB 204 million, down from RMB 209 million as of June 30, 2023[40] - The company held cash and cash equivalents of RMB 106 million as of December 31, 2023, slightly down from RMB 109 million as of June 30, 2023[40] - The company has no bank loans or long-term debts as of December 31, 2023, resulting in a debt-to-equity ratio of zero[40] Revenue Sources - The company is engaged in the sale of agricultural products, with revenue recognized at a point in time upon delivery to customers[12] - Over 90% of the group's revenue and operating performance for the six months ended December 31, 2023, and December 31, 2022, came from crop sales[13] - More than 90% of the group's external customer revenue is located in Hong Kong[14] - The group's non-current assets are primarily derived from China, accounting for over 90%[15] - Revenue contributions from major customers for the six months ended December 31, 2023, include Customer A at RMB 5,056,000, Customer B at RMB 5,719,000, Customer C at RMB 4,713,000, and Customer D at RMB 4,225,000[16] Employee and Operational Costs - The total employee costs, including director remuneration, increased to RMB 7,834,000 for the six months ended December 31, 2023, from RMB 7,124,000 in the previous year[19] - The depreciation expense for property, plant, and equipment was RMB 1,559,000 for the six months ended December 31, 2023[20] Corporate Governance and Compliance - The group did not recommend any interim dividend for the six months ended December 31, 2023, consistent with the previous year[24] - The company has no provision for Chinese corporate income tax as its subsidiaries engaged in qualified agricultural businesses are exempt from such taxes[22] - The average number of ordinary shares issued during the six months ended December 31, 2023, was approximately 3,295,582,000 shares, unchanged from the previous year[26] - The company has no significant contingent liabilities as of December 31, 2023[40] - The company has adhered to the Corporate Governance Code as per the Hong Kong Stock Exchange rules, with the exception of the separation of roles between the Chairman and CEO, which is currently held by Mr. Guo Hao[42] - Mr. Guo Hao was absent from the annual general meeting held on December 15, 2023, due to business commitments, with non-executive director Mr. Ye Zhiming presiding over the meeting[43] - The Audit Committee, consisting of independent non-executive directors, has reviewed the interim financial report[44] - All directors confirmed compliance with the standards set forth in the Securities Trading Code during the six months ending December 31, 2023[47] Future Plans and Strategies - The company plans to focus on digital construction in agricultural production and promote its self-developed smart farm management system[38] - The company aims to enhance its innovation capabilities and technological strength to improve the supply level and quality of agricultural products[37] - The company will closely monitor industry trends and allocate resources to seize growth opportunities when the business environment improves[38]
超大现代(00682) - 2024 - 中期业绩