Financial Performance - For the six months ended December 31, 2023, the company's revenue was RMB 19,020,000, a decrease of 17.3% compared to RMB 23,021,000 for the same period in 2022[4] - Gross profit for the same period was RMB 3,758,000, down 26.0% from RMB 5,069,000 in the previous year[4] - The company reported a significant debt restructuring gain of RMB 202,024,000, leading to a pre-tax profit of RMB 201,423,000 compared to a loss of RMB 1,244,000 in the prior period[4] - The net profit for the period was RMB 201,421,000, a substantial recovery from a loss of RMB 1,244,000 in the previous year[4] - The total comprehensive income for the period was RMB 207,869,000, compared to a loss of RMB 14,634,000 in the same period last year[4] - The total profit for the six months ended December 31, 2023, was RMB 5,233,000, compared to RMB 10,833,000 for the same period in 2022, reflecting a decline of 51.7%[21] - The company recorded a pre-tax profit of RMB 201,423,000 for the six months ended December 31, 2023, compared to a pre-tax loss of RMB 1,244,000 for the same period in 2022[21] - The company achieved a profit of approximately RMB 201,400,000 during the reporting period, a significant turnaround from a loss of approximately RMB 1,200,000 in the previous period[51] Assets and Liabilities - The company's current assets decreased to RMB 19,160,000 from RMB 22,621,000 as of June 30, 2023[5] - Current liabilities significantly decreased to RMB 14,582,000 from RMB 442,894,000, indicating improved liquidity[5] - The company's total assets less current liabilities stood at RMB 126,856,000, a recovery from a negative position of RMB 302,251,000[5] - Total assets as of December 31, 2023, amounted to RMB 141,438,000, an increase from RMB 140,643,000 as of June 30, 2023[22] - Total liabilities decreased to RMB 124,616,000 as of December 31, 2023, from RMB 457,351,000 as of June 30, 2023, indicating a significant reduction in debt[22] - As of December 31, 2023, the company had total assets valued at approximately RMB 141,400,000 and net assets of approximately RMB 16,800,000[52] - The capital debt ratio as of December 31, 2023, was approximately 88.1%, a significant improvement from 325.2% on June 30, 2023[56] Business Operations - Forestry business revenue was RMB 5,440,000, down 36.5% from RMB 8,580,000 in the same period last year, while ginseng business revenue was RMB 13,580,000, a decrease of 6.0% from RMB 14,441,000[21] - The company successfully obtained a logging permit for 12,044.0 cubic meters in December 2023, with sales of approximately 5,620 cubic meters generating revenue of about RMB 5,400,000 during the reporting period[39] - The ginseng business generated revenue of approximately RMB 13,600,000 during the reporting period, sourced from the purchase of ginseng from suppliers[40] - The company has initiated ginseng cultivation in its existing forests, with a first phase planting of approximately 6 million ginseng seeds on 59 acres[40] - The company owns a total of 117,424 acres (approximately 7,829 hectares) of forest land in Sichuan Province, China, primarily consisting of cypress trees[38] - The company has established a long-term supply framework agreement with suppliers to ensure a stable supply of ginseng[40] Employee and Governance - As of December 31, 2023, the group had 27 employees, an increase from 16 employees as of December 31, 2022[65] - Total employee costs during the reporting period amounted to approximately RMB 1,900,000, down from RMB 2,200,000 in the previous period[65] - The board did not recommend the payment of an interim dividend for the reporting period, consistent with the previous period[66] - The company has adopted all code provisions of the Corporate Governance Code and has been compliant, with some exceptions noted[70] - The Audit Committee, consisting of three independent non-executive directors, reviewed the company's interim and annual reports[72] - The company's interim financial statements for the reporting period were reviewed by the Audit Committee[73] - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[76] Corporate Changes - The company has undergone a restructuring process, with shares resuming trading on July 28, 2023, after fulfilling the listing rules[8] - The company completed a capital and debt restructuring on July 28, 2023, and its shares resumed trading on the same day[34][35] - The company changed its name from "China Bozza Development Holdings Limited" to "China Health Technology Group Holding Company Limited" effective November 27, 2023[64] - There were no significant events after the reporting period that could materially impact the company's operations and financial performance[63] - The company agreed to acquire a 52% stake in a target company for RMB 7,128,670, which will become a non-wholly owned subsidiary[59] Financial Management - The company incurred financing costs of RMB 51,000 for the six months ended December 31, 2023, down from RMB 8,967,000 in the previous year[23] - The company’s bank interest income was RMB 2,000 for the six months ended December 31, 2023, compared to RMB 3,000 for the same period in 2022[22] - Administrative expenses increased by 55.6% to approximately RMB 8,400,000 from about RMB 5,400,000 in the previous period, primarily due to legal and professional fees as well as depreciation[46] - The company recorded a debt restructuring gain of approximately RMB 202,020,000, resulting from the difference between the settled debt's book value of approximately RMB 410,170,000 and the amounts issued to creditors[48] - The company reported a net loss attributable to shareholders of RMB 201,421 thousand for the six months ended December 31, 2023, compared to a loss of RMB 1,244 thousand for the same period in 2022[31] - Trade receivables decreased from RMB 6,933 thousand as of June 30, 2023, to RMB 4,212 thousand as of December 31, 2023[14] - Trade payables decreased from RMB 99,008 thousand as of June 30, 2023, to RMB 10,840 thousand as of December 31, 2023[15] - The company recorded revenue of approximately RMB 19,000,000 during the reporting period, a decrease of 17.4% compared to RMB 23,000,000 in the previous period[43] - Gross profit for the reporting period was approximately RMB 3,800,000, down from RMB 5,100,000 in the previous period, reflecting a decline of 25.5%[44]
宝沙发展(01069) - 2024 - 中期业绩