Financial Performance - For the six months ended June 30, 2024, the company reported revenue of RMB 31,817,000, a decrease of 25.8% compared to RMB 42,862,000 for the same period in 2023[1] - The gross loss for the period was RMB 1,833,000, compared to a gross profit of RMB 1,718,000 in the previous year[1] - The company recorded a pre-tax loss of RMB 8,599,000, significantly higher than the pre-tax loss of RMB 1,636,000 in the same period last year[2] - The total comprehensive loss attributable to owners of the company was RMB 8,490,000, compared to a comprehensive loss of RMB 18,405,000 in the previous year[2] - The basic and diluted loss per share for the period was RMB 0.97, compared to RMB 0.54 in the previous year[2] - For the six months ended June 30, 2024, the total revenue was RMB 31,817,000, a decrease of 24.5% compared to RMB 42,862,000 for the same period in 2023[11][15][17] - The segment loss for the pig slaughtering and meat trading division was RMB (4,545,000), while the pipeline system products division reported a loss of RMB (1,000) for the same period[11][12] - The company reported a loss attributable to owners of approximately RMB 8,551,000 for the six months ended June 30, 2024, compared to a loss of RMB 4,796,000 for the same period in 2023[23] - The pork business revenue decreased by approximately 21.6% to RMB 31.8 million, down from RMB 39.7 million in the previous year[40] - The pipeline business reported zero revenue for the six months ended June 30, 2024, compared to RMB 3.2 million in the previous year[40] - Administrative expenses for the six months ended June 30, 2024, were approximately RMB 7.4 million, down from RMB 8.3 million in the previous year, reflecting a decrease of about 10.8%[40] Assets and Liabilities - As of June 30, 2024, total assets amounted to RMB 425,909,000, an increase from RMB 413,802,000 at the end of 2023[3] - Current liabilities increased to RMB 85,498,000 from RMB 70,511,000 at the end of 2023, primarily due to an increase in trade payables[4] - The company's cash and cash equivalents stood at RMB 392,343,000, slightly up from RMB 389,836,000 at the end of 2023[3] - The net asset value of the company was RMB 410,986,000, down from RMB 416,688,000 at the end of 2023[4] - Total assets as of June 30, 2024, amounted to RMB 490,388,000, an increase of 1.8% from RMB 481,047,000 as of December 31, 2023[14] - The total liabilities increased to RMB 66,263,000 as of June 30, 2024, compared to RMB 53,453,000 as of December 31, 2023, reflecting a rise of 24%[14] - Trade receivables increased to RMB 42,853,000 as of June 30, 2024, up from RMB 30,061,000 as of December 31, 2023[27] - The provision for expected credit losses on trade receivables rose to RMB 15,546,000 as of June 30, 2024, compared to RMB 13,125,000 as of December 31, 2023[28] - Trade payables increased significantly to RMB 25,459,000 as of June 30, 2024, compared to RMB 12,072,000 as of December 31, 2023, representing an increase of approximately 111.5%[31] Cash Flow and Financial Management - Interest income from bank deposits was RMB 575,000, slightly down from RMB 602,000 in the previous year[17] - Government grants received during the period amounted to RMB 1,261,000, which was not reported in the previous year[17] - The company incurred a tax expense of RMB 1,805,000 for the six months ended June 30, 2024, compared to RMB 1,577,000 for the same period in 2023[21] - The company recorded a loss before tax of RMB (8,599,000) for the six months ended June 30, 2024, compared to a loss of RMB (1,636,000) for the same period in 2023[21] - The total new additions of property, plant, and equipment during the interim period were approximately RMB 50,000, significantly lower than RMB 4,216,000 for the same period in 2023[25] - The fair value of trading investments was approximately RMB 4,917,000 as of June 30, 2024, compared to RMB 4,541,000 as of December 31, 2023[26] - Other receivables, net of expected credit loss provisions, were RMB 1,342,000 as of June 30, 2024, down from RMB 2,489,000 as of December 31, 2023, indicating a decrease of approximately 46.0%[30] Corporate Governance and Management Changes - 黄玉麟辞任独立非执行董事，自2024年2月6日起生效[60] - 陈冠楠被任命为独立非执行董事及多个委员会主席，自2024年2月6日起生效[60] - 审核委员会由三名独立非执行董事组成，陈冠楠为主席[61] - 截至2024年6月30日的未审计简明综合财务报表已与管理层审阅[61] - 中期业绩公告将于香港交易所及公司网站发布[62] - 中期报告将及时寄发给公司股东[62] - 董事会包括执行董事覃媛玲及三名独立非执行董事[63] Strategic Initiatives - The company successfully obtained a slaughter license in 2024, which is expected to enhance operational capabilities[37] - The company adopted a more conservative strategy for the pipeline system products business, which was suspended in the first half of 2024 due to economic downturns and increased costs[39] - The group is currently conducting trial operations at a joint venture slaughterhouse to assess its potential for full operation, which aims to improve production efficiency and reduce costs[56] - The company is exploring diversified business opportunities to develop more profitable operations and create new revenue sources, anticipating a larger market share in the future[56] Employment and Share Capital - As of June 30, 2024, the company employed 30 staff members, an increase from 21 as of December 31, 2023[50] - The issued share capital increased from 880,838,000 shares to 922,838,000 shares during the reporting period, following the issuance of 42,000,000 subscription shares[51] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the review period[46] - The group maintained a debt-to-equity ratio of 0 as of June 30, 2024, consistent with the previous reporting period[43] - The group has no foreign exchange hedging in place but monitors foreign exchange risks and will consider hedging when necessary[44] - The board has resolved not to declare any interim dividend for the six months ended June 30, 2024, consistent with the previous year[49]
惠生国际(01340) - 2024 - 中期业绩