Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 122,905 thousand, an increase of 4.9% compared to RMB 117,953 thousand for the same period in 2023[1]. - Gross profit for the same period was RMB 24,725 thousand, a slight decrease of 1.4% from RMB 25,064 thousand in 2023[1]. - The company reported a loss before tax of RMB (55,403) thousand, compared to a loss of RMB (26,525) thousand in the previous year, indicating a significant increase in losses[3]. - The net loss attributable to the owners of the company was RMB (55,226) thousand, compared to RMB (26,758) thousand in 2023, highlighting a worsening financial performance[3]. - The company’s basic and diluted loss per share for the six months ended June 30, 2024, was RMB (6.67), compared to RMB (3.40) in the same period of 2023[4]. - The group reported a pre-tax loss of RMB 98,180,000 for the six months ended June 30, 2024, compared to RMB 92,889,000 for the same period in 2023, reflecting an increase in costs[16]. - The company faced a loss attributable to shareholders of RMB 55.2 million, an increase of RMB 28.4 million compared to the previous year, primarily due to increased R&D expenses and expected credit losses[33]. - The gross profit for the same period decreased by 1.6% year-on-year to RMB 24.7 million, impacted by a 5.7% increase in sales costs to RMB 98.2 million[33]. - The company recorded a pre-tax loss of RMB 55.4 million, compared to a loss of RMB 26.5 million in the same period last year[51]. Assets and Liabilities - Total assets as of June 30, 2024, were RMB 945,290 thousand, a slight decrease from RMB 947,685 thousand as of December 31, 2023[1]. - Total liabilities increased to RMB 175,035 thousand from RMB 158,781 thousand, reflecting a rise of 10.2%[1]. - The company’s total equity decreased to RMB 770,255 thousand from RMB 788,904 thousand, reflecting a decline of 2.3%[6]. - The company had cash reserves of RMB 303.6 million and bank borrowings of RMB 20.0 million as of June 30, 2024[43]. - The company's debt-to-equity ratio increased from 1.0% as of December 31, 2023, to 2.6% as of June 30, 2024, mainly due to an increase in bank borrowings[64]. Research and Development - Research and development expenses surged to RMB 37,648 thousand, up from RMB 18,202 thousand in the previous year, indicating a focus on innovation[3]. - Research and development expenses increased by 106.6% to RMB 37.6 million, driven by higher deferred development costs and an increase in the number of R&D projects[47]. - As of June 30, 2024, the company held a total of 225 software copyrights, with 21 new copyrights obtained during the first half of 2024[34]. Revenue Breakdown - Revenue from software development services reached RMB 104,769,000, up from RMB 83,397,000 in the previous year, indicating a significant increase of 25.6%[12]. - The software development services contributed 85.3% of total revenue, with a significant year-on-year growth of 25.7% to RMB 104.8 million[34]. - Revenue from innovative solutions utilizing AI and big data analytics reached RMB 60.1 million, accounting for 57.3% of the software development services revenue[34]. - Revenue from technical and maintenance services decreased by 33.7% to RMB 13.8 million, down from RMB 20.8 million in the previous year[38]. - Standard software sales revenue fell by 68.6% to RMB 4.3 million, with innovative solutions contributing RMB 3.8 million, or 88.4% of this segment[39]. Cash Flow and Financing - Cash and cash equivalents increased significantly to RMB 3,317 thousand from RMB 96 thousand, indicating improved liquidity[5]. - Interest income from banks increased to RMB 4,674,000, compared to RMB 3,903,000 in the previous year, showing a growth of 19.7%[13]. - The group incurred financing costs of RMB 1,067,000, which is a substantial increase from RMB 525,000 in the same period last year, representing a rise of 102.0%[14]. - The group recognized a total of RMB 11,128,000 in impairment losses on receivables, compared to RMB 8,084,000 in the previous year, indicating a rise of 37.8%[16]. Corporate Governance - The company has committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[70]. - The company has adopted the corporate governance code and has complied with its principles and provisions during the six-month period ending June 30, 2024[71]. - The audit committee, consisting of three independent non-executive directors, has reviewed the interim financial results for the six months ending June 30, 2024[74]. - The interim financial information for the six months ending June 30, 2024, has not been audited but has been reviewed by an external auditor[75]. - The company has confirmed compliance with the standard code of conduct for securities trading by all directors during the reporting period[72]. Future Outlook - The company plans to enhance its market penetration and expand its strategic layout across various regions in the second half of 2024[35]. - The company aims to strengthen collaboration among subsidiaries and focus on technological innovation to improve customer experience and drive high-quality development[35].
新纽科技(09600) - 2024 - 中期业绩