Revenue Performance - Revenue for the six months ended December 31, 2023, was RMB 61.3 million, representing a 190.5% increase compared to RMB 21.1 million in the same period of 2022[2] - The group recorded total revenue of approximately RMB 61,348,000 for the review period, a significant increase of 190.1% compared to RMB 21,145,000 in the same period last year[21] - For the six months ended December 31, 2023, the total revenue from external customers was RMB 61,348 thousand, compared to RMB 21,145 thousand for the same period in 2022, representing a growth of approximately 189%[79] - Revenue from fruit distribution business was RMB 25,443,000 for the six months ended December 31, 2023, up from RMB 1,247,000 in the same period of 2022, indicating a growth of about 1,943%[87] - Revenue from air conditioning distribution business increased to RMB 35,905,000 in the first half of 2023, compared to RMB 19,898,000 in the same period of 2022, reflecting an increase of approximately 80%[87] Business Segments - The air conditioning distribution business generated revenue of approximately RMB 35.9 million during the review period, reflecting growth from the previous year[9] - The planting business generated revenue of approximately RMB 60,000, reflecting a decrease of 90.1% due to adverse weather conditions affecting crop quality[24] - The fruit distribution business achieved revenue of approximately RMB 25,400,000, marking a substantial increase of 3,672.1% compared to RMB 700,000 in the previous year, aided by the acquisition of Shanxi Pinshang[25] - The air conditioning distribution business reported revenue of approximately RMB 35,900,000, an increase of 80.4% from RMB 19,900,000 in the same period last year, driven by rising demand for air conditioning in Chinese households[27] Financial Position - Total assets as of December 31, 2023, were RMB 179.8 million, a decrease of 4.4% from RMB 188.1 million in June 2023[3] - Current assets increased by 12.4% to RMB 67.0 million from RMB 59.6 million in June 2023[3] - Cash and cash equivalents decreased by 8.0% to RMB 24.0 million from RMB 26.1 million in June 2023[3] - The company’s equity increased by 2.1% to RMB 151.1 million from RMB 148.0 million in June 2023[3] - Total liabilities decreased to RMB 28,660 thousand from RMB 40,150 thousand as of June 30, 2023, indicating a reduction in financial obligations[79] Loss and Expenses - The loss before tax improved by 38.1%, reducing to RMB 11.7 million from RMB 18.9 million in the previous year[2] - The company recorded a net loss attributable to shareholders of RMB (11,814,000) for the six months ended December 31, 2023, an improvement from a loss of RMB (18,634,000) in the prior year[60] - Employee costs increased slightly by 5.7% to approximately RMB 5,600,000, mainly due to the inclusion of costs from Shanxi Pinshang and an increase in staff at Jinlong Construction[29] - General and administrative expenses rose to approximately RMB 7,800,000, up from RMB 5,700,000 in the previous year, largely due to costs associated with corporate actions[32] Cash Flow and Financing - Cash used in operating activities for the six months ended December 31, 2023, was RMB (24,447) thousand, slightly higher than RMB (22,510) thousand in the previous year[69] - The net cash generated from financing activities was RMB 14,198 thousand, compared to RMB 4,975 thousand in the previous year, primarily due to the issuance of shares amounting to RMB 15,761 thousand[69] - The company’s cash and cash equivalents decreased by RMB 1,999 thousand, ending the period at RMB 24,003 thousand[69] - The company obtained bank loans totaling RMB 6,900,000 during the six months ended December 31, 2023, with a remaining balance of RMB 4,185,000 secured against prepayments to suppliers[130] Share Capital and Equity - As of December 31, 2023, the company issued a total of 2,980,105,859 shares, increasing from 2,499,637,884 shares as of June 30, 2023, through a rights issue raising up to approximately HKD 43,700,000[42] - The company issued 480,467,975 new shares through a rights issue, raising approximately RMB 15,761,000, which will enhance its capital base[121] - The company plans a capital reorganization involving a share consolidation where every 200 existing shares of HKD 0.01 will be consolidated into 1 share of HKD 2.00[142] - The company’s total equity increased to RMB 151,105,000 as of December 31, 2023, compared to RMB 147,962,000 at the end of the previous period[62] Risk Management - The group faced various risks related to its cultivation, including regulatory, supply and demand, climate, and price risks, which are actively managed through regular reviews and market analysis[108][109][110] - The company has established a credit control department to mitigate credit risk and regularly reviews overdue balances by senior management[113] Corporate Governance - The company has fully complied with the corporate governance code during the reporting period[167] - The audit committee, consisting of three independent non-executive directors, reviewed the effectiveness of financial controls and risk management systems[171] - Changes in the board composition include the resignation of Mr. Ng Ong Nee as executive director and chairman on November 25, 2023, and the appointment of Ms. Li Ziying as executive director and chairman on the same date[169]
亚洲果业(00073) - 2024 - 中期财报