Green Build Technology (Y06) H1 2024 earnings summary

Executive summary

• HY2024 continuing-operations revenue rose to RMB1.739m from RMB1.410m, while the period ended with a RMB1.410m net loss versus RMB93.202m profit in HY2023, which included discontinued operations.

• The statements use the going-concern basis despite material uncertainties: current liabilities exceeded current assets, and the auditor had raised going-concern concerns.

Financial highlights

• Continuing-operations gross profit was RMB1.339m versus RMB1.410m; administrative expenses increased to RMB2.562m from RMB2.008m.

• Continuing-operations loss before tax was RMB1.150m versus RMB0.401m; loss after tax was RMB1.410m versus RMB0.694m.

• HY2024 revenue increased to RMB1.739m from RMB1.410m, driven by additional consulting and management contracts secured by Yunbao.

Outlook and guidance

• Management plans to pursue additional estate management, consultancy and maintenance projects, and expects continuing operations to become cash-flow positive as revenue grows.

• Subject to shareholder approval, the proposed acquisition of 44,000 shares in Hotel Nuve Elements Plus would diversify operations into hotel management and consultancy.

• Fundraising opportunities are being explored, with discussions held with potential investors to strengthen liquidity and the financial position.