Financial Performance - Total interest income decreased by 10.9% to RMB51.5 million (US$7.4 million) in the first six months of 2023, down from RMB57.8 million in the same period of the prior year[2] - Net profit for the first six months of 2023 was RMB30.5 million (US$4.4 million), a decrease of 49.3% from RMB60.2 million in the same period of the prior year[2] - Earnings per American Depositary Share (ADS) was US$0.34 in the first six months of 2023, compared to US$0.99 in the same period of the prior year[2] - Profit before income taxes decreased from RMB 60,169 million in the first half of 2022 to RMB 30,463 million in the first half of 2023, a decline of about 49.3%[21] - Operating profit before working capital changes decreased from RMB 45,264 million to RMB 38,249 million, a drop of approximately 15.5%[21] Loan and Receivables - Total outstanding principal balance of loans was RMB753.0 million (US$103.8 million), unchanged from December 31, 2022[2] - Loans receivable, net of credit impairment losses, increased by 8.1% to RMB601.3 million (US$82.9 million) as of June 30, 2023, from RMB556.1 million as of December 31, 2022[2] - Loans receivable increased from RMB 556,112 million to RMB 601,346 million, reflecting a growth of approximately 8.1%[20] Credit and Impairment - Credit impairment losses amounted to RMB6.3 million (US$0.9 million) for the first six months of 2023, reflecting challenges in the economic environment for SMEs[7] Operating Expenses and Cash Flow - Operating expenses increased to RMB4.2 million (US$0.6 million) for the first six months of 2023, up from RMB3.9 million in the same period of the prior year[9] - Net cash used by operating activities for the first six months of 2023 was RMB164,000, compared to RMB29,000 in the same period of the prior year[13] - Net cash used in operating activities increased from RMB (29) million to RMB (164) million, indicating a worsening cash flow situation[21] Assets and Liabilities - Total assets increased from RMB 600,269 million as of December 31, 2022, to RMB 644,288 million as of June 30, 2023, representing a growth of approximately 7.3%[20] - Current assets rose from RMB 561,036 million to RMB 606,530 million, an increase of about 8.1%[20] - Total liabilities increased from RMB 312,111 million to RMB 324,022 million, a rise of about 3.8%[20] - Shareholders' equity grew from RMB 288,158 million to RMB 320,266 million, marking an increase of approximately 11.1%[20] Cash and Restricted Cash - Cash and restricted cash as of June 30, 2023, was RMB289,000 (US$40,000), slightly down from RMB295,000 as of December 31, 2022[11] - Cash and restricted cash at the end of the period increased from RMB 197 million to RMB 289 million, reflecting a growth of approximately 46.6%[21] Loans Payable - Loans payable to third parties, related parties, and shareholders amounted to RMB161.4 million (US$22.3 million), all overdue as of June 30, 2023[12] Interest Payable - The company reported an increase in interest payable from RMB 72,810 million to RMB 81,797 million, an increase of about 12.8%[20]
XINIYA(DXF) - 2023 Q2 - Quarterly Report