Financial Performance - For the six months ended June 30, 2024, the company's revenue was RMB 192,529,000, a decrease of 54.4% compared to RMB 422,142,000 in the same period of 2023[1] - The company reported a gross profit of RMB 43,037,000, down 79.5% from RMB 209,885,000 year-on-year[1] - The adjusted net loss for the period was RMB 49,412,000, compared to an adjusted net profit of RMB 138,981,000 in the same period last year[2] - The company's net loss for the six months ended June 30, 2024, was RMB 52.9 million, compared to a net profit of RMB 131.0 million for the same period in 2023[22] - The gross margin for the six months ended June 30, 2024, was 22.4%, a decline of 27.3% from 49.7% for the same period in 2023[15] - The company reported a loss before tax of RMB 46,598,000, compared to a profit of RMB 167,045,000 in the prior year[40] - The net loss attributable to equity holders of the parent was RMB 52,572,000, compared to a profit of RMB 130,952,000 in the same period last year[40] - Basic loss per share for the six months ended June 30, 2024, was RMB (0.146), compared to earnings per share of RMB 0.363 for the same period in 2023[54] Revenue Sources - The company achieved overseas distribution revenue exceeding RMB 13 million, nearly doubling year-on-year[7] - The short drama business saw a revenue increase of approximately 380% year-on-year, with the short drama "Save My Family" accumulating over 330 million views[6] - Revenue from customers in mainland China was RMB 179,168,000, while revenue from other countries/regions was RMB 13,361,000 for the six months ended June 30, 2024[49] - Customer contract revenue for the six months ended June 30, 2024, was RMB 192,529,000, a decrease of 54.4% compared to RMB 422,142,000 for the same period in 2023[50] Project Development - The company launched three new projects and completed two projects in the first half of 2024, with the series "You Also Have Today" achieving high viewership on multiple platforms[4] - The company has a rich reserve of projects in development, with several series already pre-sold[4] - The company is actively developing localized content in Thailand and Hong Kong, including the Thai version of "Hunting Crime" and the production of "Thirty Only: Bangkok Edition"[7] Financial Position - Trade receivables and notes receivable decreased by 56.2% to RMB 261.5 million as of June 30, 2024, from RMB 597.3 million as of December 31, 2023[26] - As of June 30, 2024, the net current assets were RMB 2,610.8 million, slightly down from RMB 2,732.8 million as of December 31, 2023, while the current ratio increased from 6.13 to 7.14[28] - The total equity attributable to owners decreased from RMB 2,574.5 million as of December 31, 2023, to RMB 2,446.8 million as of June 30, 2024, primarily due to dividend distribution and operational losses in the first half of 2024[28] - The debt-to-asset ratio remained stable at 27.8% as of June 30, 2024, consistent with December 31, 2023[29] - The company's net assets attributable to equity holders decreased to RMB 2,448,515,000 from RMB 2,574,543,000, a decline of 4.9%[42] Governance and Compliance - The company has adopted the corporate governance code and has complied with all applicable provisions, except for the separation of the roles of Chairman and CEO[34] - The company will continue to review its corporate governance structure to ensure compliance with the governance code[35] - All directors confirmed compliance with the standard code of conduct for securities transactions during the six months ending June 30, 2024[36] Dividends and Shareholder Returns - The board decided not to declare an interim dividend for the six months ending June 30, 2024[33] - The company declared a cash dividend of RMB 0.218 per share for the fiscal year ending December 31, 2023, totaling RMB 78,580,000, approved at the annual general meeting on June 20, 2024, and scheduled for payment on July 19, 2024[56] - The company did not declare or pay any interim dividends for the six months ending June 30, 2024, consistent with the same period in 2023[56] Employee and Operational Metrics - As of June 30, 2024, the company had 205 employees, with approximately 72.2% being female, reflecting a commitment to gender diversity[11] - The company has only one reportable operating segment, indicating a streamlined operational focus[48]
柠萌影视(09857) - 2024 - 中期业绩