Ruisen Life Service Co, Limited (Stock Code: 1922) released unaudited interim results for the six months ended 30 June 2024. Revenue reached approximately RMB957.8 million, a 1.2% increase compared to around RMB946.7 million for the same period last year. Cost of sales rose to about RMB817.6 million, up 3.6% from RMB789.4 million in the prior period, largely reflecting higher staff costs.
Gross profit was approximately RMB140.2 million, down from RMB157.4 million. Administrative expenses rose 19.1% to RMB67.8 million, partly due to increases in staffing-related bills. After factoring in impairments and other expenses, the Group recorded a net loss of around RMB15.9 million, compared with a profit of RMB48.2 million in the same period of 2023. Basic and diluted loss per share stood at RMB5.76 cents, versus earnings per share of RMB16.52 cents previously.
As at 30 June 2024, total equity stood at approximately RMB222.7 million, down from RMB266.0 million at 31 December 2023. Cash and cash equivalents amounted to about RMB135.3 million, reflecting the Group’s higher trade receivables and repayment of certain borrowings. Contract liabilities declined by 22.9% to RMB302.3 million, mainly owing to payment schedules for property management fees. The company declared a special dividend of HK12.4 cents per share earlier in the year.
The announcement noted various steps taken in response to allegations involving former executives, along with restatements of certain prior-year figures. The investigation findings and internal control reviews remain part of the Group’s efforts to address regulatory requirements.
Trading in the company’s shares on the Stock Exchange has been suspended since 28 August 2024 and remains suspended pending fulfillment of relevant conditions. The company stated its commitment to meeting the Stock Exchange’s resumption guidance and will provide further updates when available.
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