Financial Performance - The company's revenue for the first half of 2023 decreased by approximately 19.0% compared to the same period last year, resulting in a net loss of approximately RMB 21 million[18]. - The company's revenue for the six months ended June 30, 2023, was approximately RMB 37.0 million, a decrease of about RMB 8.7 million or 19.0% compared to RMB 45.7 million for the same period in 2022[24]. - The overall APM system solution revenue decreased by approximately 47.8% from RMB 25.5 million for the six months ended June 30, 2022, to RMB 13.3 million for the same period in 2023[25]. - The company's gross profit decreased by approximately 28.0% from RMB 23.8 million for the six months ended June 30, 2022, to RMB 17.2 million for the same period in 2023[29]. - The gross profit margin decreased from approximately 52.2% for the six months ended June 30, 2022, to approximately 46.4% for the same period in 2023[29]. - The net loss for the six months ended June 30, 2023, was approximately RMB 21.0 million, compared to a net loss of approximately RMB 3.1 million for the six months ended June 30, 2022[34]. - The company reported a loss before tax of RMB 21,149 thousand, compared to a loss of RMB 3,487 thousand in the same period last year[64]. - The company reported a loss attributable to ordinary equity holders of RMB 21,087,000 for the six months ended June 30, 2023, compared to a loss of RMB 2,769,000 for the same period in 2022, representing an increase in loss of approximately 661%[85]. Assets and Liabilities - As of June 30, 2023, the total assets amounted to RMB 305,608 thousand, down from RMB 329,372 thousand as of December 31, 2022[16]. - The total liabilities were RMB 37,205 thousand, a decrease from RMB 39,997 thousand as of December 31, 2022[16]. - The total equity decreased to RMB 268,403 thousand from RMB 389,375 thousand as of December 31, 2022[16]. - The current ratio was reported at 7.6, down from 8.2 in the previous period[16]. - The debt-to-equity ratio increased to 3.7% from 3.5% as of December 31, 2022[16]. - As of June 30, 2023, the company's cash and cash equivalents were approximately RMB 142.2 million, down from RMB 171.4 million as of December 31, 2022[35]. - The current ratio decreased from 8.2 as of December 31, 2022, to 7.6 as of June 30, 2023, primarily due to net cash outflows from operating activities and capital expenditures[35]. - The total liabilities decreased to RMB 36,929,000 as of June 30, 2023, from RMB 38,119,000 at the end of 2022, a reduction of 3.1%[65]. - The company reported a decrease in trade payables to RMB 4,477,000 as of June 30, 2023, down from RMB 2,687,000 at the end of 2022, indicating a decrease of 66.5%[65]. Revenue Streams - Software development service revenue increased by approximately 33.0% from RMB 11.2 million for the six months ended June 30, 2022, to RMB 14.9 million for the same period in 2023[26]. - Technical service revenue increased by approximately 7.6% from RMB 6.6 million for the six months ended June 30, 2022, to RMB 7.1 million for the same period in 2023[27]. - Embedded hardware and standard APM software sales revenue decreased by approximately 32.0% from RMB 2.5 million for the six months ended June 30, 2022, to RMB 1.7 million for the same period in 2023[28]. - Revenue from a major state-owned telecommunications operator accounted for over 10% of total revenue, amounting to approximately RMB 27,120,000, down from RMB 34,555,000 in the previous year[77]. Expenses - Sales and distribution expenses decreased by approximately 3.7% from RMB 6.2 million for the six months ended June 30, 2022, to RMB 6.0 million for the six months ended June 30, 2023[31]. - Research and development expenses increased by approximately 34.2% from RMB 14.3 million for the six months ended June 30, 2022, to RMB 19.2 million for the six months ended June 30, 2023, primarily due to an increase in personnel costs related to 5G and AI research teams[32]. - Administrative expenses rose by approximately 90.2% from RMB 10.3 million for the six months ended June 30, 2022, to RMB 19.5 million for the six months ended June 30, 2023, driven by the need for further business development[33]. Investments and Future Plans - The company is actively developing Central Bank Digital Currency (CBDC) systems and has signed agreements to acquire multiple software copyrights to enhance its CBDC product offerings[19]. - The company plans to develop CBDC solutions that include distributed ledger technology, digital encryption technology, and cross-border payment technology, aiming for global reach[22]. - The company plans to invest in and upgrade digital technologies, including CBDC, big data, and AI, to expand its existing business segments[38]. - In the APM business segment, the company has increased investments in emerging business directions, anticipating a turnaround in profitability in the long term[20]. - The APM business is expected to maintain steady revenue growth in the second half of 2023, driven by product and technology innovations[23]. Employee and Management Information - Employee costs for the six months ended June 30, 2023, were approximately RMB 38.8 million, compared to RMB 31.4 million for the same period in 2022, representing a year-on-year increase of about 23.3%[44]. - The group had 313 employees as of June 30, 2023[44]. - The total remuneration for key management personnel was RMB 3,370 million for the six months ended June 30, 2023, compared to RMB 4,772 million for the same period in 2022, a decrease of 29.4%[97]. Shareholder Information - Major shareholders included International Business Digital Technology Group Limited, holding 569,715,000 shares, which represents 74.77% of the total[54]. - The stock option plan adopted on November 21, 2016, allows the company to grant options to eligible participants, with a total of 48,674,500 shares available for issuance, accounting for approximately 6.4% of the total shares issued as of the report date[46]. - As of June 30, 2023, the company confirmed that at least 25% of its issued share capital was held by the public[45]. Miscellaneous - The company did not purchase, sell, or redeem any of its listed securities during the six months ended June 30, 2023[60]. - There were no significant events after June 30, 2023, that would materially affect the company's operations and financial performance[62]. - The company has adopted new accounting standards effective from January 1, 2023, with no significant financial impact expected[73]. - The company changed its English name from "Vixtel Technologies Holdings Limited" to "International Business Digital Technology Limited" as approved by shareholders[70].
国际商业数字技术(01782) - 2023 - 中期业绩