Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 1,022 thousand, a decrease of 80.6% compared to RMB 5,267 thousand for the same period in 2023[3] - Gross profit for the same period was RMB 197 thousand, up from RMB 40 thousand, resulting in a gross margin of 19.3% compared to 0.8% in 2023[3] - The net loss attributable to the parent company was RMB 5,058 thousand, significantly improved from a net loss of RMB 27,156 thousand in the prior year[3] - Other income and gains increased to RMB 24,971 thousand from RMB 12,324 thousand, indicating a growth of 102.1%[3] - The company reported a basic and diluted loss per share of RMB 0.09 for the period, compared to RMB 0.81 in the same period last year[3] - The group reported a pre-tax loss from continuing operations of RMB 5,058,000 for the six months ended June 30, 2024, compared to a loss of RMB 27,156,000 in the same period of 2023[21] - The company reported a net loss attributable to ordinary shareholders of RMB 5,058,000 for the six months ended June 30, 2024, compared to a loss of RMB 27,156,000 for the same period in 2023[22] - The basic and diluted loss per share for the six months ended June 30, 2024, was RMB (0.09), a significant improvement from RMB (0.81) in the previous year[22] Assets and Liabilities - Total non-current assets as of June 30, 2024, amounted to RMB 1,422,467 thousand, an increase from RMB 1,400,972 thousand as of December 31, 2023[5] - Current liabilities decreased to RMB 1,451,234 thousand from RMB 1,570,105 thousand, reflecting a reduction of 7.6%[6] - The total equity attributable to the parent company increased to RMB 186,948 thousand from RMB 57,293 thousand, showing a significant improvement[7] - Trade receivables at the end of the reporting period amounted to RMB 158,205,000, slightly up from RMB 156,644,000 at the end of 2023[23] - The aging analysis of trade receivables showed that RMB 37,870,000 was due within one year, down from RMB 74,993,000 in the previous year[23] - Contract assets as of June 30, 2024, were RMB 1,102,107,000, compared to RMB 1,086,057,000 at the end of 2023, indicating stability in contract asset balances[25] - Trade payables at the end of the reporting period were RMB 598,721,000, a decrease from RMB 615,968,000 at the end of 2023[27] - As of June 30, 2024, the total outstanding bank and other borrowings amounted to RMB 558.825 million, a decrease from RMB 595.477 million as of December 31, 2023[35] Revenue Breakdown - Customer contract revenue for the six months ended June 30, 2024, was RMB 1,022,000, a decrease of 81.6% compared to RMB 5,267,000 for the same period in 2023[11] - Construction contract revenue contributed RMB 860,000, down from RMB 5,227,000 in the previous year, reflecting a decline of 84.5%[13] - Total other income for the six months ended June 30, 2024, was RMB 24,971,000, an increase of 102.5% from RMB 12,324,000 in the same period of 2023[14] Costs and Expenses - Financial costs for the six months ended June 30, 2024, totaled RMB 15,187,000, a decrease of 26.5% compared to RMB 20,663,000 in the previous year[16] - Interest income from bank loans and other borrowings increased to RMB 7,982,000 for the six months ended June 30, 2024, compared to RMB 7,172,000 in the previous year[16] Corporate Governance and Compliance - The company is committed to enhancing its corporate governance practices to protect shareholder interests and improve corporate value and transparency[38] - The company has established an audit committee to review its accounting principles and policies, ensuring compliance with applicable accounting standards[40] - The company has maintained compliance with the corporate governance code and has not engaged in any share buybacks during the reporting period[37] Strategic Focus and Development - The company is focusing on ecological construction and environmental restoration, aligning with national policies aimed at increasing forest coverage and improving ecological quality by 2025[28] - The company has implemented a refined project cost control model, utilizing a unified supplier database and a self-developed project management information platform[30] - Five investment projects under the PPP model have entered the operational phase, while others are in construction or preparation stages[29] - The company plans to leverage its existing infrastructure project experience and technical accumulation to explore opportunities in the ecological technology sector, transitioning from traditional forestry business[34] - The government emphasizes the importance of green economy and sustainable development, which aligns with the company's focus on ecological construction and sustainable business practices[33] - The company aims to achieve a transformation towards ecological technology, which is expected to provide diversified growth momentum for its business[34] Dividends - The company did not declare any interim dividend for the period ended June 30, 2024, consistent with the previous year[20] - The company has not proposed any interim dividend for the reporting period, consistent with the previous period[41]
中国绿地博大绿泽(01253) - 2024 - 中期业绩