XML 20 R11.htm IDEA: XBRL DOCUMENT

REVENUE AND OTHER INCOME

6 Months Ended

Jun. 30, 2023

5. REVENUE AND OTHER INCOME

	a)	Revenue comprises the fair value of the consideration received or receivable for the sale of goods.

		An analysis of the Company’s revenue and other income is as follows:


	For the six months ended June 30,
	2023		2022
	RMB’000		RMB’000
Revenues
Continuing operations
Business management and consulting		3,302		5,952
Livestreaming ecommerce		305,948		112,294

Discontinued operations
Sale of tiles (Note 17)		2,701		16,715

Total revenues		311,951		134,961

Other income
Continuing operations
Interest income		530		163
Government grant		307		632
Tax subsidy		-		887
Loan forgiveness		1,160		-
Other income		834		-

Discontinued operations
Other income (Note 17)		5,716		8,717
Total other income		8,547		10,399

Segment reporting

The Company identifies operating segments and prepares segment information based on the regular internal financial information reported to the Chief Executive Officer and executive directors, who are the Company’s chief operating decision makers for their decisions about the allocation of resources to the Company’s business components and for their review of the performance of those components.

All of the Company’s operations are considered by the chief operating decision makers to be aggregated into three reportable operating segments: 1) the provision of livestreaming ecommerce industry which was acquired as part of a strategic transformation towards trending technology businesses in China to mitigate the challenging conditions in the real estate market in China, and associated industries like the Company’s legacy ceramic tile business, (2) business management and consulting; and (3) the manufacture and sale of standard to high-end ceramic tiles, which was disposed by the Company in April 2023. Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the Company’s chief operating decision makers in deciding how to allocate resources and in assessing performance.

The business of the Company is engaged entirely in the PRC. The Chief Executive Officer and executive directors regularly review the Company’s business as one geographical segment.

The following table shows the Company’s operations by business segment for the six months ended June 30, 2023 and 2022.


	For the six months ended June 30,
	2023			2022
	RMB’000			RMB’000
Revenues
Discontinued operations
Sales of tile products		2,701			16,716
Continuing operations
Consulting income / software		3,302			5,952
Livestreaming ecommerce		305,948			112,293
Total revenues		311,951			134,961

Cost of revenues
Discontinued operations
Sales of tile products		7,557			19,026
Continuing operations
Consulting income / software		8,151			7,123
Livestreaming ecommerce		253,904			109,216
Total cost of revenues		269,612			135,365

Operating costs and expenses
Discontinued operations
Sales of tile products		3,244			13,823
Continuing operations
Consulting income / software		2,584			3,275
Livestreaming ecommerce		53,187			2,450
Other		32,139			2,570
Total operating costs and expenses		91,154			22,118

Bad debt expense (reversal)
Discontinued operations
Sales of tile products		(1,000	)		18,829
Continuing operations
Consulting income / software		-			-
Livestreaming ecommerce		-			(5,293	)
Total bad debt expense		(1,000	)		13,536

Other expenses
Discontinued operations
Sales of tile products		-			-
Continuing operations
Consulting income / software		-			-
Livestreaming ecommerce		-			4
Total other expenses		-			4

Other income
Discontinued operations
Sales of tile products		5,716			8,716
Continuing operations
Consulting income / software		74			36
Livestreaming ecommerce		1,070			1,489
Other		1,687			158
Total other income		8,547			10,399

Loss from operations
Sales of tile products		(1,384	)		(26,246	)
Consulting income / software		(7,359	)		(4,410	)
Livestreaming ecommerce		(73	)		7,405
Other		(30,452	)		(2,412	)
Loss from operations		(39,268	)		(25,663	)


	As of June 30, 2023		As of December 31, 2022
Segment assets
Ceramic tile products		-		74,675
Consulting income/software		57,284		15,924
Livestreaming ecommerce		14,236		15,004
Others		60,281		4,403
Total assets		131,801		110,006