Financial Performance - The company reported revenue of approximately RMB 38,752,000 for the six months ended December 31, 2023, representing a 165% increase compared to RMB 14,608,000 in the same period last year[13]. - Gross profit for the period was approximately RMB 3,862,000, up 243% from RMB 1,126,000, with a gross margin of 10.0% compared to 7.7% in the previous year[16]. - The company experienced a net loss of RMB 21,278,000, compared to a net loss of RMB 16,079,000 in the previous year, reflecting a 32% increase in losses[18]. - The company incurred a pre-tax loss of RMB 21,278,000 for the six months ended December 31, 2023, compared to a loss of RMB 10,780,000 in the previous period, indicating a worsening of 97.5%[50]. - The group reported a pre-tax loss of RMB 16,079,000, with segment performance showing a loss of RMB 7,615,000[52]. Revenue Breakdown - The sales of frozen concentrated orange juice surged to approximately RMB 30,425,000 from RMB 1,852,000, driven by a strategic focus on this core business[15]. - The company reported a total revenue of RMB 38,752,000 for the six months ended December 31, 2023, compared to RMB 30,425,000 for the same period last year, reflecting a year-over-year increase of 27.5%[50]. - Total revenue for the group was RMB 14,608,000, with a segment revenue breakdown of RMB 11,855,000 from frozen concentrated orange juice and RMB 12,756,000 from fresh squeezed orange juice[52]. Assets and Liabilities - Trade receivables increased significantly to RMB 24,067,000 from RMB 1,018,000, marking a 2,264% increase[21]. - Cash and cash equivalents rose to RMB 12,186,000, a 142% increase from RMB 5,030,000[21]. - Inventory levels increased to RMB 18,076,000 from RMB 6,619,000, reflecting a 173% rise[21]. - As of December 31, 2023, current assets amounted to RMB 58,614,000, a significant increase from RMB 24,121,000 as of June 30, 2023, representing a 143.5% growth[37]. - The total liabilities as of December 31, 2023, were RMB 309,207,000, down from RMB 372,317,000 as of June 30, 2023, indicating a reduction of 16.9%[37]. - Non-current liabilities include borrowings of RMB 18,936,000 and lease liabilities of RMB 21,587,000[62]. - The group’s total liabilities net of equity amounted to RMB (196,346,000) at the end of the reporting period[62]. Expenses - Distribution costs decreased by approximately 62.9% from RMB 2,009,000 to RMB 746,000[6]. - Administrative expenses increased to RMB 16,704,000 from RMB 12,059,000, indicating a rise of approximately 38.5%[6]. Shareholder Information - The company did not declare any interim dividend for the six months ended December 31, 2023[19]. - The company does not recommend the payment of an interim dividend for the six months ending December 31, 2023[55]. - The weighted average number of ordinary shares for calculating basic and diluted loss per share was 2,752,242,978[72]. - The company issued 1,123,500,000 new ordinary shares at a price of HKD 0.067 per share, raising approximately HKD 74,710,000 for debt repayment and general working capital[79]. - The net proceeds from the share subscription amounted to approximately HKD 74,710,000 after deducting related expenses[91]. - The net amount of unutilized proceeds from the share issuance is expected to be used by December 31, 2024[80]. Corporate Governance - The board confirmed compliance with the corporate governance code throughout the reporting period[82]. - The audit committee reviewed the accounting principles and practices adopted by the group during the reporting period[84]. - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management[94]. Employee Information - The company has 121 employees as of December 31, 2023, a slight increase from 120 employees in the previous year[42]. Risk Management - The company has established a foreign exchange risk management policy to mitigate risks associated with currency fluctuations, particularly involving the US dollar[38]. Capital Expenditures - The company has not made any capital expenditures during the reporting period, consistent with the previous year[41]. Share Consolidation - The company has implemented a share consolidation plan, merging every ten shares into one, effective February 26, 2024[42].
森美控股(00756) - 2024 - 中期业绩