西藏水资源中期报告2024

CONTENTS目录 FINANCIALHIGHLIGHTS2 财务摘要 MANAGEMENTDISCUSSIONANDANALYSIS3 管理层讨论及分析 CORPORATEGOVERNANCEPRACTICES12 公司管治常规 FINANCIALINFORMATION 财务资料 CondensedConsolidatedStatementofProfitorLoss13 简明综合损益表 CondensedConsolidatedStatementofComprehensiveIncome14 简明综合全面收益表 CondensedConsolidatedStatementofFinancialPosition15 简明综合财务状况表 CondensedConsolidatedStatementofChangesinEquity17 简明综合权益变动表 CondensedConsolidatedStatementofCashFlows18 简明综合现金流量表 NotestotheCondensedConsolidatedFinancialStatements20 简明综合财务报表附注 OTHERINFORMATION56 其他资料 CORPORATEINFORMATION67 公司资料 西藏水资源有限公司|2024年中期报告 FINANCIALHIGHLIGHTS 财务摘要 Sixmonthsended30June 截至六月三十日止六个月 2024 2023 Change 二零二四年 二零二三年 变动 RMB’000 RMB’000 人民币千元 人民币千元 % Revenue 收入 138,815 172,971 ↓19.7 AdjustedEBITDA* 调整后息税折旧及 摊销前利润* 43,009 19,146 ↑124.6 Profit/(loss)fortheperiodattributable toownersoftheCompany 本公司拥有人应占 期内利润╱（亏损） 9,037 (13,467) N/A 不适用 Earnings/(loss)pershare 每股盈利╱（亏损） —Basicanddiluted(RMBcents) －基本及摊薄（人民币分） 0.21 (0.35) N/A 不适用 Asat30June 2024 Asat31December 2023 于二零二四年六月三十日 于二零二三年十二月三十一日 RMB’000 RMB’000 人民币千元 人民币千元 Totalassets 资产总额 3,879,436 3,985,556 EquityattributabletoownersoftheCompany 本公司拥有人应占权益 2,959,517 2,855,761 *AdjustedEBITDAisnotanaccountingmeasureunderInternationalFinancialReportingStandards(“IFRSs”)whichshouldbereadinconjunctionwithNote5(b). *调整后息税折旧及摊销前利润并非国际财务报告准则（“国际财务报告准则”）项下的会计处理办法，请与附注5(b)一起阅读。 MANAGEMENTDISCUSSIONANDANALYSIS 管理层讨论及分析 BUSINESSREVIEW Duringthefirsthalfof2024,theGroupcontinuedtobecommittedtothedevelopmentofthewaterresourcesindustryandthebeerindustryinTibet,strivingtoenhancetheuserexperienceandoptimizechannelexpansion,soastoenableTibet’sdistinctiveandpremiumproductstoreachmoreconsumersandpotentialconsumers. Inthefirsthalfof2024,China’seconomycontinuedtooperateinastablemode,andtheoverallperformanceofconsumptionwasrelativelyweak.Thefoundationfortherecoveryoftheconsumermarketstillneedstobeconsolidatedandconsumerconfidenceneedstobefurtherboosted,withconsumers’attitudetowardsconsumptionbecomingmoreprudentandrational.Thedomesticpackageddrinkingwatermarketwasinkeencompetition,buttheGroup’spackageddrinkingwaterproductsarestillfocusingontheexpansionofspecialchannels,includingsalesgrowthinautoservicesandrailwaychannels.Theoverallsalesvolumeofthewaterbusinessincreasedby18.6%year-on-year,whileitsrevenueincreasedby10.9%year-on-year.Againstthebackdropoftheoveralldeclineinsalesvolumeinthebeerindustry,theGroup’sbeerbusinesswasaffectedbytheinterplayoftheincreasingmarketcompetitionandtheoverallconsumptiontrend,resultinginayear-on-yeardecreaseinsalesvolumeby28.5%andrevenueby31.8%. Inthefirsthalfof2024,thescaleoftheGroup’sbankfinancinginTibetdecreased.TheGroupalsoactivelyutilizedandleveragedontheadvantagesoftheoffshorefinancingplatformoflistedcompanyandsuccessfullycompletedanequityfinancinginearly2024,whichprovidedstrongsupportforstabilizingtheGroup’sbusinessoperations.TheinvestorsoftheCompanyhavefullydemonstratedtheirrecognitionofandconfidenceinthefuturedevelopmentoftheGroupthroughtheiractiveparticipationinfinancingactivitiesandactualinvestment.ThemanagementoftheGrouphasalwaysfirmlybelievedinfocusingonthereturntotheproductsasthecornerstone,theenhancementofcustomerexperienceasthegoal,thedeepploughingofbrandvalueastheguide,andthemaximizationofshareholders’returnsasthecore,soastofocusonthestrengthsoftheGroupandstriveforthefuture. 业务回顾 在二零二四年上半年，本集团继续致力于西藏水资源产业及啤酒产业的发展，努力提升户体验，优化渠道扩展，使西藏的特色优质产品触达更多的消费者及潜在消费者。 二零二四年上半年，中国经济延续平稳运行模式，消费总体表现较为疲软，消费市场恢复基础仍需巩固及消费信心有待进一步提振，消费者的消费态度更为审慎和理性。国内包装饮用水市场竞争加剧，本集团的包装饮用水产品仍着力特通渠道的拓展，包括汽车服务及铁路渠道上的销量均有增长。水业务总体销量同比增长18.6%，收入同比增长10.9%。啤酒行业销量整体下滑的背景下，本集团啤酒业务受日益激烈的市场竞争及整体消费趋势等的交织影响，销量同比下降28.5%，收入同比下降31.8%。 二零二四年上半年，本集团在西藏的银行融资规模有所下降。本集团也积极利用和发挥上市公司境外融资平台的优势，于二零二四年初成功完成一次股权融资，为稳定集团业务运营提供了有力支持。本公司的投资者通过积极参与融资活动以及给予实际投入充分展现出对集团未来发展的认可和信心。本集团管理层始终坚信，以回归产品为基石，以提升客户体验为目标，以深耕品牌价值为导向，以为股东谋求最大收益为核心，聚势谋远。 FINANCIALREVIEW REVENUEANALYSIS Inthefirsthalfof2024,duetothereasonsmentionedinthe“BusinessReview”sectionabove,thetotalrevenueoftheGroupamountedtoRMB139million,representingadecreaseof19.7%incomparisonwiththefirsthalfof2023. TherevenuegeneratedfromourwaterbusinesssegmentwasRMB54million,representinganincreaseof10.9%incomparisonwiththefirsthalfof2023.TheincreaseinrevenuewasmainlyduetotheincreaseinsalesvolumeofwaterproductsinmainsaleschannelsoftheGroup. thefirsthalfof2024 thefirsthalfof2023 %change 二零二四年上半年 二零二三年上半年 %变动 RMB’000 RMB’000 人民币千元 人民币千元 % Volume(hectoliter) 销量（百升） 115,557 161,539 ↓28.5% Revenue(RMB’000) 收入（人民币千元） 83,581 122,491 ↓31.8% AdjustedEBITDA*(RMB’000) 调整后除息税折旧及摊销利润*（人民币千元） 43,721 45,628 ↓4.2% Forthebeerbusinesssegment,theyearoveryearchangeisasfollow: *AdjustedEBITDAisnotanaccountingmeasureunderIFRSswhichshouldbereadinconjunctionwithNote5(b). Inthefirsthalfof2024,theoverallgrossprofitmarginoftheGroupwas21.1%,whichdecreasedby7.9percentagepointswhencomparedtothefirsthalfof2023.Thegrossprofitmarginofthewaterbusinesssegmentwas19.4%,whichincreasedby5percentagepointswhencomparedtothefirsthalfof2023.Thegrossprofitm