Financial Performance - For the six months ended June 30, 2023, revenue was RMB 14,088.7 million, an increase of 11.3% compared to the same period in 2022[2]. - Revenue from new passenger vehicle sales was RMB 12,126.5 million, up 8.7% year-on-year[2]. - After-sales service revenue reached RMB 1,962.2 million, reflecting a growth of 30.3% compared to the previous year[2]. - The profit for the period was RMB 44.7 million, a significant decrease from RMB 366.6 million in the same period last year[4]. - Basic earnings per share for the period were RMB 2.91, down from RMB 27.02 in the same period last year[5]. - The group's profit decreased by approximately 87.8% to about RMB 44.7 million, with a profit margin dropping from about 2.9% to approximately 0.3%[61]. - The company reported a net income of RMB 123,446,000 for the six months ended June 30, 2023, compared to RMB 109,117,000 in the same period of 2022, reflecting an increase of about 13.1%[16]. Dividends - The company proposed an interim dividend of RMB 0.0087 per ordinary share[2]. - The interim dividend proposed for the six months ended June 30, 2023, is RMB 0.0087 per share, a decrease from RMB 0.0808 per share for the same period in 2022[40]. - The total amount of the interim dividend to be distributed is approximately RMB 11.7 million based on the number of shares issued as of the announcement date[82]. - The interim dividend will be paid in cash to shareholders listed on the company's register as of September 26, 2023[82]. - Holders of convertible bonds must exercise their conversion rights by September 11, 2023, to be eligible for the interim dividend[82]. Costs and Expenses - Financing costs totaled RMB 149,293,000 for the six months ended June 30, 2023, up from RMB 127,146,000 in the same period of 2022, indicating a rise of approximately 17.4%[17]. - Employee costs decreased to RMB 426,868,000 for the six months ended June 30, 2023, from RMB 478,109,000 in the same period of 2022, a reduction of about 10.7%[17]. - The cost of sales increased by 15.6% to approximately RMB 13,087.6 million, primarily due to growth in new passenger vehicle sales and after-sales services[57]. - Distribution costs decreased to approximately RMB 382.0 million, accounting for about 2.7% of total revenue, down from 3.1% in the previous year[59]. Assets and Liabilities - Non-current assets totaled RMB 8,133.4 million as of June 30, 2023, compared to RMB 8,350.9 million at the end of December 2022[6]. - Current liabilities increased to RMB 6,244.8 million from RMB 5,888.5 million at the end of 2022[6]. - The company's net asset value was RMB 5,179.7 million, up from RMB 4,433.8 million at the end of December 2022[7]. - Trade receivables as of June 30, 2023, amounted to RMB 240,751,000, a decrease of 13.7% from RMB 278,958,000 as of December 31, 2022[31]. - Cash and cash equivalents, including bank deposits, increased to RMB 1,745,531,000 as of June 30, 2023, compared to RMB 1,635,625,000 as of December 31, 2022, representing a growth of 6.7%[33]. - Total loans and borrowings as of June 30, 2023, were RMB 1,697,948,000, a decrease of 11% from RMB 1,906,731,000 as of December 31, 2022[34]. Inventory and Sales - The company recognized a total of RMB 12,976,713,000 in cost of inventory for the six months ended June 30, 2023, compared to RMB 11,210,172,000 in the same period of 2022, marking an increase of approximately 15.7%[17]. - Inventory as of June 30, 2023, totaled RMB 943,112,000, down from RMB 1,069,360,000 as of December 31, 2022[29]. - New passenger car sales revenue reached approximately RMB 12,126.5 million, representing an increase of about 8.7% compared to the same period last year[63]. - After-sales service revenue grew by approximately 30.3% to about RMB 1,962.2 million, with a service margin maintained at 50.1%[64]. Share Options and Capital - The weighted average number of ordinary shares for the six months ended June 30, 2023, was 1,339,224,000 shares, an increase from 1,270,474,000 shares in the same period of 2022[22]. - As of June 30, 2023, there are 2,822,500 unexercised share options granted in 2018, with an exercise price of HKD 2.58 and a remaining contract period of 4.51 years[44]. - The group raised a total of HKD 1,023,400,000 from the placement of 68,000,000 new ordinary shares at a subscription price of HKD 15.05 per share[49]. - The group raised approximately HKD 1,012 million from the issuance of 68,000,000 new shares at HKD 15.05 each in January 2023[75]. Compliance and Governance - The external auditor has reviewed the interim financial report for the period, ensuring adherence to the relevant auditing standards[81]. - The group has confirmed compliance with the non-competition commitments from its controlling shareholders as of June 30, 2023[72].
美东汽车(01268) - 2023 - 中期业绩