Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 5,547,547 thousand, representing a 4.8% increase from RMB 5,293,583 thousand in the same period of 2023[2] - EBITDA for the same period was RMB 736,127 thousand, up 7.6% from RMB 684,164 thousand year-on-year[2] - Net profit for the period was RMB 274,743 thousand, a slight increase of 1.2% compared to RMB 271,568 thousand in the previous year[2] - Basic earnings per share decreased by 2.3% to RMB 0.240 from RMB 0.245 in the prior period[2] - Gross profit for the six months was RMB 892,081 thousand, compared to RMB 794,281 thousand, indicating a growth in profitability[4] - Total comprehensive income for the period was RMB 235,541 thousand, significantly higher than RMB 150,591 thousand in the same period last year[5] - The group's net profit before tax for the six months ended June 30, 2024, was RMB 59,604,000, compared to RMB 63,888,000 for the same period in 2023[21] - The net profit for the first half of 2024 was approximately RMB 275 million, a slight increase of about RMB 3 million or 1.2% from RMB 272 million in the same period of 2023[40] Cash Flow and Liquidity - Cash generated from operating activities for the six months ended June 30, 2024, was RMB 457,803 thousand, compared to RMB 242,160 thousand in the same period of 2023, indicating an increase of 89.0%[9] - Net cash generated from operating activities for the six months ended June 30, 2024, was RMB 251,346 thousand, significantly up from RMB 51,798 thousand in the same period of 2023, reflecting a growth of 384.5%[9] - The net cash used in investing activities for the six months ended June 30, 2024, was RMB (186,522) thousand, a decrease from RMB (362,712) thousand in the same period of 2023, showing an improvement of 48.5%[10] - Current liabilities decreased to RMB 7,825,866 thousand from RMB 7,905,712 thousand at the end of 2023, indicating improved liquidity[6] - The total cash and cash equivalents at the end of June 30, 2024, were RMB 2,232,579 thousand, up from RMB 1,938,933 thousand at the end of June 30, 2023, indicating a growth of 15.2%[11] Assets and Liabilities - Non-current assets as of June 30, 2024, totaled RMB 6,737,250 thousand, down from RMB 6,861,579 thousand at the end of 2023[6] - The company's net assets increased to RMB 6,163,433 thousand from RMB 5,927,892 thousand, reflecting a stronger financial position[7] - The company's total liabilities decreased from RMB 2,582,046 thousand in the first half of 2023 to RMB 2,582,046 thousand in the first half of 2024, indicating a stable financial position[10] - Trade receivables from third parties increased to RMB 3,142,735 thousand as of June 30, 2024, compared to RMB 2,530,346 thousand as of December 31, 2023[26] - The total trade receivables and notes receivable amounted to RMB 3,496,247 thousand as of June 30, 2024, up from RMB 2,819,521 thousand as of December 31, 2023[26] Revenue Breakdown - Revenue from tinplate packaging reached RMB 2,279,739,000, up 9.6% from RMB 2,080,934,000 in the previous year[18] - Revenue from aluminum packaging was RMB 2,904,612,000, slightly up from RMB 2,891,628,000, indicating a growth of 0.4%[18] - Revenue from plastic packaging increased to RMB 363,196,000, a rise of 13.1% from RMB 321,021,000[18] - The sales revenue of the tinplate packaging segment was approximately RMB 2.280 billion, up about 9.6% from RMB 2.081 billion in the same period of 2023, accounting for approximately 41.1% of total sales[33] - The steel drum business reported sales revenue of approximately RMB 919 million, a significant increase of about 24.7% from RMB 737 million in the same period of 2023, achieving record highs in sales revenue, sales volume, and operating profit[34] Employee and Operational Metrics - Employee costs for the period were RMB 445,053,000, up from RMB 426,975,000, reflecting a growth of 4.2%[20] - The total employee cost for the group was approximately RMB 445 million for the first half of 2024, compared to RMB 427 million in the same period last year[51] - The group employed 6,163 full-time employees as of June 30, 2024, a decrease from 6,292 employees in the same period last year[49] Corporate Governance - The company has applied the Corporate Governance Code principles during the six-month period ending June 30, 2024[54] - The board of directors has undergone changes, with Mr. Zhang Xian resigning and Mr. Zhang Ye appointed as the new chairman[55] - The company has established a Remuneration Committee primarily composed of independent non-executive directors to oversee compensation policies[58] - The Audit Committee is responsible for reviewing the financial reporting process and ensuring the effectiveness of internal controls[59] - The Nomination Committee has been formed to evaluate the board's structure and propose changes as necessary[60] - The Risk Management Committee reviews the company's risk management framework and key emerging risks[61] Dividends - The company does not intend to declare an interim dividend for the six months ended June 30, 2024[2] - The company proposed an interim dividend of RMB 0 per share for the six months ended June 30, 2024, down from RMB 0.122 per share in the same period of 2023[24] - The interim dividend for 2023 is not recommended, with the previous interim dividend being RMB 0.122 per share (equivalent to 13.3 HK cents)[57]
中粮包装(00906) - 2024 - 中期业绩