Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 172,971,000, a decrease of 5.9% compared to RMB 183,847,000 in the same period of 2022[28]. - Adjusted EBITDA for the same period was RMB 19,146,000, down 51.8% from RMB 39,729,000 year-on-year[28]. - The company reported a net loss of RMB 13,467,000 for the six months ended June 30, 2023, compared to a profit of RMB 7,821,000 in the previous year[31]. - Basic and diluted loss per share was RMB (0.35) for the six months ended June 30, 2023, compared to earnings of RMB 0.30 in the same period of 2022[31]. - Total revenue for the first half of 2023 was RMB 173 million, a decrease of 5.9% compared to the first half of 2022[88]. - The group reported a net loss of RMB 13 million for the first half of 2023, compared to a net profit of RMB 8 million in the same period of 2022[97]. Assets and Liabilities - Total assets as of June 30, 2023, were RMB 4,259,377,000, an increase from RMB 4,140,133,000 as of December 31, 2022[28]. - The company’s cash and cash equivalents decreased to RMB 26,151,000 from RMB 58,147,000 as of December 31, 2022[36]. - The company’s total liabilities increased, with current liabilities totaling RMB 974,856,000 as of June 30, 2023, compared to RMB 953,596,000 at the end of 2022[36]. - Non-current liabilities decreased from RMB 327,077 thousand in 2022 to RMB 100,263 thousand in 2023, a reduction of approximately 69%[38]. - Total net assets increased from RMB 2,859,460 thousand in 2022 to RMB 3,184,258 thousand in 2023, representing a growth of about 11%[38]. - The company’s investment using the equity method decreased to RMB 1,441,506,000 as of June 30, 2023, from RMB 1,443,916,000 as of December 31, 2022[73]. Revenue Segmentation - Total revenue for the water business segment was RMB 48,986 thousand, while the beer business segment generated RMB 122,491 thousand, contributing to a total revenue of RMB 172,971 thousand for the six months ended June 30, 2023[54]. - Total revenue for the water business segment was RMB 30,053,000, while the beer business segment generated RMB 153,794,000, leading to a combined total revenue of RMB 183,847,000 for the six months ended June 30, 2022[56]. - Revenue from water product sales increased to RMB 45,510,000 in 2023 from RMB 26,673,000 in 2022, reflecting a growth of approximately 70.5%[63]. - Beer product sales decreased to RMB 122,226,000 in 2023 from RMB 153,527,000 in 2022, indicating a decline of about 20.4%[63]. Operational Highlights - The company completed a rights issue on January 30, 2023, raising approximately HKD 388 million, with 70% allocated to repay external debts and 30% for general working capital[15]. - The company plans to enhance marketing efforts for its high-end mineral water brand "5100" and introduce new packaging products targeting different consumer segments in the second half of 2023[18]. - The company aims to increase sales of its beer products in the Tibet region, launching a youth-oriented beer product with a Tibetan theme in the second half of 2023[19]. - The company continues to focus on expanding its operations in China, particularly in the production and sales of seafood and beer products[43]. Shareholder Information - The company has no plans to declare an interim dividend for the six months ended June 30, 2023[16]. - The company did not buy, sell, or redeem any of its shares during the first half of 2023[22]. - The company did not declare or propose any dividends for the six months ended June 30, 2023, consistent with the previous year[84]. Cost and Expenses - Selling and distribution expenses rose by approximately 36.9% to RMB 17 million, primarily due to increased transportation and labor costs associated with higher water sales[92]. - Total employee costs for the first half of 2023 were RMB 33 million, compared to RMB 29 million in the same period of 2022, with total employees decreasing to 348 from 371[106]. Other Financial Metrics - Financial income amounted to RMB 15,972 thousand, while financial expenses totaled RMB 14,941 thousand, resulting in a net financial income of RMB 1,031 thousand[54]. - Deferred income decreased from RMB 11,394 thousand in 2022 to RMB 10,206 thousand in 2023, a decline of about 10%[38]. - The fair value of the liability portion of the convertible bonds was RMB 323,152,000 as of June 30, 2023, down from RMB 342,379,000 as of December 31, 2022[82].
西藏水资源(01115) - 2023 - 中期业绩