BRANDMAX(SZ:300805)2024-09-23 12:49Financial Performance - The company reported a revenue of CNY 1.093 billion for the first half of 2024, representing a decline of 4.89% year-on-year [5] - The net profit attributable to shareholders was CNY 10.6362 million, with operating cash flow of CNY 62.9329 million [6] - The total assets decreased by 3.14% compared to the previous year, with current assets accounting for 82.47% of total assets [3][4] Accounts Receivable - As of June 30, 2024, accounts receivable and contract assets amounted to CNY 577.2958 million, representing 52.81% of total revenue for that period [2][3] - The aging of accounts receivable is short, with over 87.44% of accounts receivable being within one year [2][3] - The collection rates for accounts receivable were 90.95% for 2021, 94.63% for 2022, and 84.34% for the period up to June 30, 2024 [3] Asset Structure - Current assets constitute 82.47% of total assets, while non-current assets account for 17.53% [3] - Non-current assets are primarily composed of long-term equity investments (33.33%) and fixed assets (23.54%) [5] Business Development - The company is expanding its traditional business areas, including retail terminal management and brand communication, while exploring new sectors such as new energy vehicles [6][7] - The company operates 779 vehicles in the ride-hailing business, collaborating with platforms like Didi and Haibo [6][7] Risk Management - The company emphasizes strengthening credit risk management and has linked performance evaluation metrics to collection efficiency [3] - The liquidity ratios indicate strong short-term and long-term debt repayment capabilities, with a current ratio of 3.8 and a debt-to-asset ratio of 22.73% [6]