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易纬集团(03893.HK)8月25日收盘上涨38.46%,成交179.76万港元
Jin Rong Jie· 2025-08-25 08:37
8月25日,截至港股收盘,恒生指数上涨1.94%,报25829.91点。易纬集团(03893.HK)收报0.45港元/ 股,上涨38.46%,成交量465万股,成交额179.76万港元,振幅36.92%。 行业估值方面,家庭电器及用品行业市盈率(TTM)平均值为7.16倍,行业中值1.93倍。易纬集团市盈 率-1.85倍,行业排名第75位;其他丽年国际(09918.HK)为1.59倍、凯富善集团控股(08512.HK)为 2.26倍、旷世芳香(01925.HK)为3.61倍、华讯(00833.HK)为3.64倍、IDT INT'L-NEW(00167.HK) 为3.78倍。 资料显示,易纬集团控股有限公司(3893.HK)是室内设计解决方案的一站式供应商,公司的大多数客户是 全球奢侈品和高端时尚品牌,在世界各地设有零售店。根据Frost & Sullivan的数据,就2015年的收入而言, 公司是香港最大的奢侈品零售室内设计师。公司服务于全球客户群,足迹遍布世界各地,包括香港、中 国、美国、欧洲、中东和其他亚洲国家。 (以上内容为金融界基于公开消息,由程序或算法智能生成,不作为投资建议或交易依据。) 作者:行 ...
易纬集团(03893) - 股东特别大会通告
2025-08-08 09:26
香港交易及結算所有限公司及香港聯合交易所有限公司對本通告之內容概不負責, 對其準確性或完整性亦不發表任何聲明,並明確表示概不就因本通告全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 (於開曼群島註冊成立的有限公司) (股份代號:3893) CROSSTEC Group Holdings Limited 易緯集團控股有限公 司 股東特別大會通告 承董事會命 易緯集團控股有限公司 執行董事 王榮 茲通告易緯集團控股有限公司(「本公司」)謹訂於二零二五年九月一日(星期一)下 午二時正假座中國深圳福田區深南大道2007號金地中心12樓1205室舉行股東大會, 以考慮及酌情通過(不論有否修訂)下列決議案為本公司普通決議案。除文義另有 所指外,本通告所用詞彙與本公司所刊發日期為二零二五年八月八日之通函(「通 函」)(本通告為通函之一部分)所界定者具有相同涵義。 香港,二零二五年八月八日 普通決議案 1. 「動議: (a) 批准、確認及追認本公司(作為發行人)與Hexing Investment Limited (「HIL」)(作為認購人)訂立日期為二零二五年六月二日之認購協議(印 有「A」字樣之 ...
易纬集团(03893) - (1)涉及发行可换股债券之贷款资本化;(2)关连交易-涉及发行可换股债券...
2025-08-08 09:17
此乃要件 請即處理 閣下對本通函任何方面或應採取之行動如有任何疑問,應諮詢 閣下之持牌證券交易商、銀行經理、 律師、專業會計師或其他專業顧問。 閣下如已將名下之易緯集團控股有限公司股份全部出售或轉讓,應立即將本通函及隨附的代表委 任表格送交買主或承讓人,或經手出售或轉讓的銀行、持牌證券交易商或其他代理人,以便轉交 買主或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函之內容概不負責,對其準確性或 完整性亦不發表任何聲明,並明確表示概不就因本通函全部或任何部分內容而產生或因倚賴該等 內容而引致之任何損失承擔任何責任。 本通函僅供參考,並不構成收購、購買或認購本公司證券的邀請或要約。 CROSSTEC Group Holdings Limited 易緯集團控股有限公 司 (於開曼群島註冊成立的有限公司) (股份代號:3893) (1)涉及發行可換股債券之貸款資本化; (2)關連交易-涉及發行可換股債券之貸款資本化;及 (3)股東特別大會通告 獨立董事委員會及獨立股東之 獨立財務顧問 本封面頁所使用之詞彙具有本通函所界定之相同涵義。 董事會函件載於本通函第7至26頁,而獨立董事委員會函件載於本通函 ...
易纬集团(03893) - 进一步延迟寄发有关(1)涉及发行可换股债券之贷款资本化;及(2)关连交易...
2025-08-04 12:08
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責, 對其準確性或完整性亦不發表任何聲明,並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 本公告僅供參考,並不構成收購、購買或認購本公司任何證券的邀請或要約。 CROSSTEC Group Holdings Limited 易緯集團控股有限公 司 (1)涉及發行可換股債券之貸款資本化;及 (2)關連交易-涉及發行可換股債券之貸款資本化 之通函 茲提述易緯集團控股有限公司(「本公司」)日期為二零二五年六月二日、二零二五 年六月二十三日及二零二五年七月十四日之公告,內容有關訂立HIL認購協議及 及其項下擬進行之建議發行HIL可換股債券,以及訂立MKI認購協議及其項下擬 進行之建議發行MKI可換股債券;以及延遲寄發該通函(「該等公告」)。除另有界 定者外,本公告所採用之詞彙與該等公告所界定者具有相同涵義。 誠如該等公告所述,一份載有(其中包括)(i)認購協議及建議發行可換股債券之進 一步詳情;(ii)獨立董事委員會就MKI認購協議之條款及建議發行MKI可換股債券 致獨立股東之推薦建議;(iii)獨立 ...
易纬集团(03893) - 2025 - 中期财报
2025-03-28 08:42
Financial Performance - For the six months ended 31 December 2024, the Group's revenue was approximately HK$45.7 million, representing an increase of approximately 69.3% compared to HK$27.0 million for the same period in 2023[17]. - The Group reported a gross profit of approximately HK$2.0 million, a decrease of approximately 87.3% from HK$15.8 million in the previous year[17]. - The net loss for the Period was approximately HK$13.1 million, a change from a net profit of HK$6.7 million in the six months ended 31 December 2023[17]. - The Group's revenue increased by approximately 69.3% from approximately HK$27.0 million for the six months ended December 31, 2023, to approximately HK$45.7 million for the current period[27]. - The Group's gross profit decreased by approximately 87.3% from approximately HK$15.8 million for the six months ended December 31, 2023, to approximately HK$2.0 million for the current period[35]. - Loss before income tax for the period was HK$13,052,000, contrasting with a profit of HK$6,722,000 in the previous year, marking a shift of HK$19,774,000[98]. - Basic and diluted loss per share was HK$8.39 for the six months ended December 31, 2024, compared to earnings of HK$5.40 in the same period of 2023[98]. Business Strategy and Operations - The Group has focused on developing local business in the PRC, Hong Kong, and Macau, while also exploring opportunities in the Australian market[19]. - The Group's business strategy has shifted towards residential and non-retail projects due to the challenges faced in the retail sector[18]. - The Group commenced an online game distribution business during the six months ended 31 December 2024[16]. - The Group has commenced online game distribution business during the current period to broaden income sources[25]. - The management emphasized maintaining relationships with existing large brand customers and establishing new partnerships with property developers[19]. - The overall business sentiment has been impacted negatively, leading to a more cautious approach in executing business strategies[18]. Financial Position and Liabilities - As of December 31, 2024, cash and bank balances amounted to approximately HK$5.3 million, down from approximately HK$16.8 million as of June 30, 2024[48][49]. - The Group had other borrowings of approximately HK$55.0 million and shareholder's loans of approximately HK$30.0 million as of December 31, 2024, with a gearing ratio calculated as negative due to equity being in a deficit position[45][52]. - Total liabilities increased to HK$122,726,000 as of December 31, 2024, compared to HK$108,040,000 as of June 30, 2024, representing a rise of 13.6%[100]. - The company reported a capital deficiency of HK$57,249,000 as of December 31, 2024, worsening from HK$44,427,000 as of June 30, 2024[100]. - The Group's total borrowings, including shareholder loans, are scheduled for repayment within one year, indicating a focus on short-term liquidity management[164]. Employee and Administrative Expenses - Total employee benefits for the period were approximately HK$6.3 million, an increase from approximately HK$5.9 million for the six months ended December 31, 2023, attributed to hiring more staff[59]. - Administrative expenses remained stable at approximately HK$9.5 million for the current period, compared to approximately HK$9.6 million for the six months ended December 31, 2023[41]. Shareholder and Corporate Governance - The company did not declare any interim dividend for the period, consistent with the previous year[56]. - The company has adopted the Corporate Governance Code and considers itself compliant with the code provisions, except for the deviation regarding the roles of the Chairman and Chief Executive Officer[85][86]. - The company is committed to maintaining high standards of corporate governance to safeguard shareholder interests and enhance corporate value[84]. Market and Revenue Insights - Revenue from interior solutions projects increased significantly to HK$39,998,000, up 58.5% from HK$25,207,000 in the previous year[133]. - The Group's revenue from external customers in the People's Republic of China (excluding Hong Kong) surged to HK$24,781,000, a substantial increase from HK$4,804,000 in the prior period, reflecting a growth of 416.5%[127]. - The Group's online game distribution service income was HK$3,474,000, which was not present in the previous year's results, indicating a new revenue stream[133]. Cash Flow and Investments - Cash used in operations for the six months was HK$11,457,000, slightly down from HK$11,657,000 in the previous year[107]. - The company’s cash and cash equivalents decreased by HK$11,702,000 from the previous period, ending at HK$5,293,000[107]. - Net cash generated from investing activities was HK$7,000 for the current period, compared to a cash outflow of HK$605,000 in the previous period[107]. Borrowings and Financing Activities - The Group issued a bond of HK$5,000,000 at an interest rate of 5% per annum on May 2, 2024, with a maturity of 7 years[164]. - The Group drew down a loan facility of HK$30,000,000 from a shareholder at an interest rate of 15% per annum, fully utilized as of December 31, 2024[164]. - Interest expense to shareholders for the six months ended December 31, 2024, was HK$2,269,000, compared to HK$1,647,000 for the same period in 2023, reflecting an increase[175].
易纬集团(03893) - 2025 - 中期业绩
2025-02-27 14:04
Revenue and Profitability - Revenue for the six months ended December 31, 2024, was HKD 45,713,000, a significant increase from HKD 26,983,000 in the same period of 2023, representing a growth of 69.5%[4] - Revenue for the six months ended December 31, 2024, was HKD 45,713,000, an increase of 69.2% compared to HKD 26,983,000 for the same period in 2023[19] - Revenue from indoor solutions project increased to HKD 39,998,000, up 58.5% from HKD 25,207,000 in the previous year[19] - The group’s revenue increased by approximately 69.3% from about HKD 27.0 million to approximately HKD 45.7 million during the reporting period[46] - Gross profit decreased by approximately 87.3% from about HKD 15.8 million to approximately HKD 2.0 million, resulting in a gross margin drop from 58.4% to 4.5%[48] - Direct costs rose to HKD 43,669,000, compared to HKD 11,220,000 in the previous year, leading to a gross profit decrease to HKD 2,044,000 from HKD 15,763,000[4] - Direct costs surged by approximately 290.2% from about HKD 11.2 million to approximately HKD 43.7 million, primarily due to increased revenue and prior adjustments related to contract costs[47] - The company reported a loss before tax of HKD 13,052,000, contrasting with a profit of HKD 6,722,000 in the prior year[4] - The group reported a net loss of approximately HKD 13.1 million for the period, compared to a net profit of approximately HKD 6.7 million in the previous period[41] Earnings Per Share - Basic and diluted loss per share was HKD 8.39, compared to earnings of HKD 5.40 per share in the same period last year[4] - The company reported a basic loss per share of HKD 0.084, compared to a profit of HKD 0.054 per share in the previous year[29] Assets and Liabilities - Total assets increased to HKD 65,477,000 as of December 31, 2024, up from HKD 63,613,000 as of June 30, 2024[5] - Current liabilities rose to HKD 67,218,000, compared to HKD 72,276,000 in the previous period, resulting in a net current liability of HKD 11,327,000[5] - The company has a capital deficit of approximately HKD 57,249,000 as of December 31, 2024, which raises concerns about its financial stability[9] - Total liabilities, including other payables and accrued interest, rose to HKD 25,763,000 as of December 31, 2024, compared to HKD 20,710,000 as of June 30, 2024, indicating a 24% increase[33] - Trade payables increased to HKD 6,200,000 as of December 31, 2024, from HKD 4,851,000 as of June 30, 2024, representing a 28% increase[33] - The aging analysis of trade payables shows that over 1 year payables increased to HKD 3,134,000 as of December 31, 2024, up from HKD 2,622,000 as of June 30, 2024, a 19% increase[33] Cash Flow and Liquidity - The company’s cash and cash equivalents decreased to HKD 5,293,000 from HKD 16,765,000, indicating a liquidity challenge[5] - Cash and bank balances decreased from approximately HKD 16.8 million to approximately HKD 5.3 million[52] - The company aims to enhance operational cash flow to improve working capital conditions moving forward[9] Financing and Capital Management - Financing costs rose to HKD 5,341,000, an increase of 22.3% from HKD 4,367,000 in the prior period[21] - The company has not declared any dividends during the current period, consistent with the previous year[25] - The company issued bonds amounting to HKD 5,000,000 with a 5% annual interest rate, maturing in May 2031[35] - The company completed a rights issue, raising approximately HKD 17,280,000, which was used to repay part of its borrowings[36] - A capital reduction and share split were implemented, reducing the par value of shares from HKD 0.40 to HKD 0.01, effective February 21, 2024[38] - The company plans to issue up to 31,104,000 new shares at a price of HKD 0.20 per share, pending completion of the placement agreement[39] Business Operations and Strategy - The company continues to focus on the sales of wooden products, furniture manufacturing, and providing interior design solutions as its core business areas[6] - The group is focusing on expanding its local business in China, Hong Kong, and Macau, while exploring opportunities in the Australian market[42] - The group has initiated online gaming distribution business and plans to start property subleasing in Australia by early 2025[44] - The group has identified potential acquisition targets to achieve continuous strategic growth[44] Employee and Administrative Expenses - As of December 31, 2024, the group had 34 employees, an increase from 30 employees as of June 30, 2024, with total employee benefits amounting to approximately HKD 6.3 million, up from HKD 5.9 million for the six months ending December 31, 2023[62] - Administrative expenses remained stable at approximately HKD 9.5 million during the reporting period[51] Compliance and Governance - The company has adopted the corporate governance code as per the listing rules, ensuring compliance and enhancing accountability to protect shareholder interests[68] - The audit committee, consisting of three independent non-executive directors, has reviewed the group's unaudited interim results and confirmed compliance with applicable accounting standards and listing rules[72] Foreign Exchange Risks - The group faces foreign exchange risks primarily from sales and purchases settled in USD, RMB, and AUD, with management closely monitoring the impact of currency fluctuations on performance[65]
易纬集团(03893) - 2024 - 年度财报
2024-10-28 11:07
Financial Performance - Revenue for the year ended June 30, 2024, increased by 53.8% to HK$73,811,000 compared to HK$48,004,000 in 2023[7]. - Gross profit for the year was HK$14,764,000, a significant recovery from a gross loss of HK$11,418,000 in the previous year[7]. - The company reported a loss for the year of HK$13,044,000, an improvement of 75.6% from a loss of HK$53,556,000 in 2023[7]. - The gross profit margin for the year was 20.0%, indicating a positive shift in profitability[7]. - Loss before income tax decreased to HK$13,044,000 from HK$53,555,000 in 2023, indicating a significant improvement[200]. - Total comprehensive expense for the year was HK$14,349,000, down from HK$54,022,000 in the previous year[200]. - Basic and diluted loss per share improved to HK$9.74 from HK$58.39 in 2023[200]. - Other income for the year was HK$225,000, a decrease from HK$1,047,000 in the previous year[200]. - Administrative expenses were HK$21,244,000, a reduction from HK$30,329,000 in 2023[200]. Assets and Liabilities - The total assets increased by 7.0% to HK$63,613,000 from HK$59,469,000 in 2023[7]. - The capital deficiency improved to HK$44,427,000, a reduction of 17.9% from HK$54,097,000 in the previous year[7]. - The current ratio decreased to 0.74 from 0.81 in 2023, indicating a decline in short-term liquidity[7]. - The gearing ratio worsened to (1.88) compared to (1.31) in the previous year, reflecting increased financial leverage[7]. - As of June 30, 2024, cash and bank balances amounted to approximately HK$16.8 million, down from approximately HK$31.0 million in 2023[37]. - As of June 30, 2024, the Group had other borrowings of approximately HK$53.5 million and shareholder's loans of HK$30.0 million, compared to HK$70.9 million in other borrowings as of June 30, 2023[38]. - The Group had net current liabilities of approximately HK$18,973,000 and capital deficiency of approximately HK$44,427,000[178]. Business Strategy and Market Focus - The management is focusing on market expansion and new product development to drive future growth[7]. - The company is exploring strategic partnerships and potential acquisitions to enhance its market position[7]. - The management is focusing on developing local business in the PRC and Hong Kong while exploring opportunities in Australia, resulting in positive outcomes and new business relationships with internationally recognized brands[25][26]. - The Group is actively seeking potential acquisition targets that may synergize with its existing business for ongoing strategic growth[29]. - The increase in revenue is attributed to various new projects obtained in the PRC, Hong Kong, and Australia[31]. Corporate Governance - The Board consists of six Directors: two executive Directors, one non-executive Director, and three independent non-executive Directors[8]. - The company is focused on enhancing its governance structure with experienced directors in finance and engineering sectors[8][9]. - The Board's composition aims to ensure independent judgment and effective supervision of the company's operations[9]. - The recent appointments of directors reflect the company's strategy to strengthen leadership and expertise in key areas[8][9]. - The Company has adopted the code provisions set out in the CG Code to enhance corporate governance[171]. - The Company has made efforts to improve corporate governance practices in line with the governance code[54]. - The Company has established four Board Committees to oversee specific aspects of its operations[50]. Risk Management - The Risk Management Committee oversees the risk management strategies and guidelines for the Group[103]. - The Company has developed a system for evaluating sanctions risks before pursuing business opportunities in sanctioned countries, with external legal counsel consulted as needed[82]. - The Company has arranged liability insurance to indemnify Directors and senior management[94]. - The internal control system is used as a management tool for daily business operations and is reviewed annually[107]. - The management confirmed to the Board that the risk management and internal control systems are effective and sufficient for the year ended June 30, 2024[109]. Employee and Operational Insights - As of June 30, 2024, the Group had 30 employees, down from 41 in 2023, with total employee benefits amounting to approximately HK$11.0 million, a decrease from approximately HK$19.5 million in 2023[41]. - The Group maintains a low employee turnover rate by offering attractive remuneration packages and career development opportunities[136]. - The Group's business is project-based, leading to variability in revenue mix and profit margins depending on project terms[134]. Shareholder Information - The Board does not recommend any dividend for the Year, which is consistent with the previous year[139]. - The Group's financial results and state of affairs are detailed in the audited consolidated financial statements on pages 54 to 143 of the annual report[137]. - The Company has maintained the prescribed public float under the Listing Rules throughout the year and continues to do so as of the date of the annual report[166]. Compliance and Legal Matters - The Group's compliance with relevant laws and regulations is outlined in the ESG Report[133]. - The Group's operations are compliant with relevant laws and regulations in Hong Kong, the PRC, and Australia[137]. - There were no significant transactions, arrangements, or contracts involving Directors or their connected entities during the year[146].
易纬集团(03893) - 2024 - 年度业绩
2024-09-30 13:09
Financial Performance - For the fiscal year ending June 30, 2024, the company reported total revenue of HKD 73,811,000, an increase from HKD 48,004,000 in the previous year, representing a growth of approximately 54%[2] - The gross profit for the year was HKD 14,764,000, compared to a loss of HKD 11,418,000 in the previous year, indicating a significant turnaround[2] - The company incurred a net loss attributable to shareholders of HKD 13,044,000, an improvement from a loss of HKD 53,556,000 in the prior year, reflecting a reduction in losses by approximately 76%[2] - Total income for 2024 is reported at HKD 73,811,000, compared to HKD 48,004,000 in 2023, marking an increase of approximately 54%[20] - The company recorded a pre-tax loss of HKD 6,366,000 due to expected losses on contracts, compared to a provision of HKD 7,941,000 in 2023[24] - Basic loss per share for the year ended June 30, 2024, was HKD 0.097 (loss of HKD 13,044,000) compared to HKD 0.583 (loss of HKD 53,556,000) for the year ended June 30, 2023[26] - The weighted average number of ordinary shares for calculating basic and diluted loss per share increased from 91,717,000 shares in 2023 to 133,933,000 shares in 2024[26] Expenses and Costs - Administrative expenses decreased to HKD 21,244,000 from HKD 30,329,000, showing a reduction of about 30%[2] - Financing costs for 2024 total HKD 9,169,000, significantly higher than HKD 4,326,000 in 2023, indicating an increase of about 112%[22] - Employee benefits expenses for 2024 amount to HKD 8,685,000, down from HKD 16,735,000 in 2023, indicating a reduction of about 48%[24] - Administrative expenses were reduced by approximately HKD 9.1 million, contributing to improved financial performance[40] Assets and Liabilities - The total assets of the company as of June 30, 2024, were HKD 63,613,000, an increase from HKD 59,469,000 in the previous year[3] - The total liabilities decreased to HKD 108,040,000 from HKD 113,566,000, indicating a reduction of approximately 5%[3] - The company has a net current liability of HKD 18,973,000, compared to HKD 12,127,000 in the previous year, indicating a worsening of liquidity position[3] - The company’s capital deficit was HKD 44,427,000, an improvement from HKD 54,097,000 in the previous year, showing a reduction in capital shortfall by approximately 18%[3] Revenue Sources - Revenue from external customers in Hong Kong increased significantly to HKD 32,296 thousand in 2024, compared to HKD 12,462 thousand in 2023, marking a growth of approximately 159%[15] - The company achieved a total of HKD 37,871 thousand in revenue from mainland China in 2024, compared to HKD 24,913 thousand in 2023, reflecting a growth of approximately 52%[15] - Revenue from major customers (10% or more of total revenue) for 2024 is HKD 54,864,000, compared to HKD 27,343,000 in 2023, indicating a significant increase[18] - Revenue from product sales for 2024 is HKD 12,014,000, up from HKD 9,800,000 in 2023, representing a growth of approximately 22.4%[20] - Revenue from interior solutions projects for 2024 is HKD 61,408,000, which is a substantial increase from HKD 34,171,000 in 2023, reflecting an increase of about 80%[20] Financing and Liquidity - The company has secured a financing agreement totaling HKD 30 million from shareholders, with an additional HKD 10 million obtained, enhancing its liquidity position[8] - The company has extended the repayment dates for loans totaling HKD 50 million, with interest rates increasing from 2% to 15%[8] - The company raised approximately HKD 16.28 million from a rights issue, which was fully utilized to repay part of the group's borrowings[36] - The net proceeds from the rights issue amounted to approximately HKD 16.28 million, used to repay part of the company's borrowings[49] Operational Performance - The company is focused on improving operational cash flow to strengthen its working capital situation[8] - The company is actively working on enhancing its operational performance to address uncertainties regarding its ability to continue as a going concern[8] - The company plans to focus on developing local businesses in China and Hong Kong while expanding operations in Australia[40] - The company is actively seeking potential acquisition targets that can create synergies with its existing business for continued strategic growth[41] Compliance and Governance - The company highlighted significant uncertainty regarding its ability to continue as a going concern due to the accumulated losses and current liabilities exceeding current assets[7] - The audit committee, consisting of three independent non-executive directors, has reviewed the group's annual performance and confirmed compliance with applicable accounting standards and listing rules[65] - The board believes that having the same individual serve as both Chairman and CEO is beneficial for the group's business outlook, despite a deviation from corporate governance guidelines[60] Other Information - The company has no income tax expense for 2024, as it is registered in the Cayman Islands and exempt from income tax[25] - No dividends were declared or paid for the year ended June 30, 2024, consistent with 2023[27] - The group has no significant capital commitments as of June 30, 2024, consistent with 2023[57] - The group faces foreign exchange risks primarily from sales and purchases settled in various currencies, including Thai Baht, Singapore Dollar, US Dollar, Renminbi, Euro, Australian Dollar, and British Pound, with no current hedging policies in place[58]
易纬集团(03893) - 2024 - 中期财报
2024-03-28 08:38
Financial Performance - For the six months ended December 31, 2023, the Group's revenue was approximately HK$27.0 million, a decrease of approximately 29.3% compared to HK$38.2 million for the same period in 2022[17]. - Gross profit for the same period was approximately HK$15.8 million, representing an increase of approximately 177.2% from HK$5.7 million in the previous year[17]. - The Group achieved a net profit of approximately HK$6.7 million, a significant turnaround from a net loss of HK$10.9 million in the prior period[17]. - Revenue for the six months ended December 31, 2023, was HK$26,983,000, a decrease of 29.4% compared to HK$38,154,000 for the same period in 2022[111]. - Gross profit increased to HK$15,763,000, up 175.5% from HK$5,723,000 year-on-year[111]. - Profit before income tax for the period was HK$6,722,000, compared to a loss of HK$10,939,000 in the previous year[111]. - Basic and diluted earnings per share improved to 5.40 HK cents, compared to a loss of 14.90 HK cents in the prior period[111]. Revenue Breakdown - Revenue from sales of millwork and furniture was HK$1,699,000, down 76.1% from HK$7,116,000 in the previous year[146]. - Income from interior solutions projects was HK$25,207,000, a decrease of 11.5% from HK$28,586,000 in the prior year[146]. - Maintenance service income decreased to HK$54,000 from HK$548,000, reflecting a decline of 90.2%[146]. - Design and project consultancy service income fell to HK$23,000 from HK$1,904,000, a decrease of 98.8%[146]. - The Group's revenue from external customers in Hong Kong was HK$22,169,000, an increase of 90.5% from HK$11,606,000 in the previous year[142]. - Revenue from the People's Republic of China (excluding Hong Kong) was HK$4,804,000, a significant decrease of 78.4% from HK$22,197,000 in the prior year[142]. Cost Management - Direct costs decreased by approximately 65.4% from approximately HK$32.4 million for the six months ended December 31, 2022, to approximately HK$11.2 million for the current period[35]. - Administrative expenses decreased to approximately HK$9.6 million for the Period, down from approximately HK$16.1 million for the six months ended 31 December 2022, primarily due to reduced employee benefits expenses[44]. - Employee benefit expenses decreased to HK$5,910,000 in 2023 from HK$10,327,000 in 2022, a reduction of 42.9%[154]. Strategic Focus and Market Outlook - The management has focused on developing local business in the PRC, Hong Kong, and Macau, establishing new relationships with internationally recognized luxury brands and property developers[19]. - The Group is optimistic about the future potential in the PRC market due to the significant development opportunities for luxury brands[19]. - The management is actively seeking potential acquisition targets that may synergize with the existing business for ongoing strategic growth[27]. - The Group has observed positive results from its efforts to explore business opportunities in the PRC market, establishing numerous relationships with new clients[24]. - The management will continue to monitor the impact of the COVID-19 pandemic on operations and results[23]. Financial Position and Capital Structure - The Group's cash and bank balances increased to approximately HK$38.4 million as of 31 December 2023, compared to approximately HK$31.0 million as of 30 June 2023[48]. - As of 31 December 2023, the Group had other borrowings of approximately HK$46.9 million, down from HK$70.9 million as of 30 June 2023, and shareholder's loans of approximately HK$30.0 million[58]. - The Group's total borrowings as of December 31, 2023, were HK$76,000,000, with an interest rate of 2% per annum from CGH prior to the assignment of loans[184]. - The Group's capital structure has been adjusted through share consolidation and new share placements, enhancing its financial flexibility[187]. - The Group's shareholder loans amounted to HK$30,000,000 as of December 31, 2023, compared to nil as of June 30, 2023, indicating a significant increase[184]. Governance and Compliance - The company has complied with the Model Code for Securities Transactions, confirming adherence by all directors during the reporting period[92]. - The Group is committed to high standards of corporate governance, having adopted the Corporate Governance Code provisions[99]. - The company has appointed new directors, enhancing its governance structure and oversight[105]. - The Audit Committee reviewed the unaudited interim results and confirmed compliance with applicable accounting standards and Listing Rules[106]. Shareholder Information - The Group did not declare any interim dividend for the Period, consistent with the six months ended 31 December 2022[61]. - The total number of issued and fully paid shares increased to 129,600,000 as of December 31, 2023, from 86,400,000 as of June 30, 2023, representing a growth of 49.9%[187]. - The company proposed a capital reduction on November 20, 2023, reducing the par value of each issued share from HK$0.40 to HK$0.01, aimed at offsetting accumulated losses[196].
易纬集团(03893) - 2024 - 中期业绩
2024-02-29 10:42
Financial Performance - For the six months ended December 31, 2023, the company reported revenue of HKD 26,983,000, a decrease of 29.5% compared to HKD 38,154,000 for the same period in 2022[4] - The gross profit for the same period was HKD 15,763,000, significantly up from HKD 5,723,000, indicating a gross margin improvement[4] - The company achieved a profit before tax of HKD 6,722,000, compared to a loss of HKD 10,939,000 in the previous year, marking a turnaround in performance[4] - The company recorded a net loss of HKD 6,722,000 for the six months ended December 31, 2023, compared to a loss of HKD 10,939,000 in the same period of 2022[28] - The group's revenue for the period was approximately HKD 27.0 million, a decrease of about 29.3% from HKD 38.2 million for the six months ended December 31, 2022[45] - Gross profit increased by approximately 177.2% to HKD 15.8 million, compared to HKD 5.7 million for the six months ended December 31, 2022, resulting in a gross margin of 58.4%[47] - The group recorded a net profit of HKD 6.7 million for the period, a turnaround from a net loss of HKD 10.9 million for the six months ended December 31, 2022[40] Expenses and Cost Management - Administrative expenses decreased to HKD 9,581,000 from HKD 16,086,000, reflecting a cost reduction strategy[4] - Total employee benefits for the period amounted to approximately HKD 5.9 million, a decrease from HKD 10.3 million for the six months ending December 31, 2022, primarily due to a one-time employee restructuring[60] - Administrative expenses were approximately HKD 9.6 million, down from HKD 16.1 million for the six months ended December 31, 2022, mainly due to reduced employee benefits[51] - Direct costs decreased by approximately 65.4% to HKD 11.2 million from HKD 32.4 million for the six months ended December 31, 2022, primarily due to contract cost reversals[46] Cash Flow and Financial Position - The company reported cash and cash equivalents of HKD 38,384,000 as of December 31, 2023, an increase from HKD 30,996,000 as of June 30, 2023[5] - Total assets increased to HKD 61,679,000 from HKD 59,469,000, indicating growth in the company's asset base[5] - The total liabilities decreased to HKD 91,895,000 from HKD 113,566,000, showing improved financial health[5] - The group has cash and bank balances of approximately HKD 38.4 million as of December 31, 2023, up from HKD 31.0 million as of June 30, 2023[52] - The capital structure shows other borrowings of approximately HKD 46.9 million and shareholder loans of HKD 30.0 million as of December 31, 2023[54] Revenue Sources - Revenue from Hong Kong increased significantly to HKD 22,169,000 in 2023 from HKD 11,606,000 in 2022, representing an increase of 90.4%[19] - Revenue from Mainland China (excluding Hong Kong) decreased to HKD 4,804,000 in 2023 from HKD 22,197,000 in 2022, a decline of 78.4%[19] Shareholder and Capital Management - The company did not declare any dividends during the period, consistent with the previous year[24] - Share capital was adjusted to 250,000,000 shares with a par value of HKD 0.4 as of December 31, 2023, following a share consolidation[35] - A proposed capital reduction will decrease the par value of shares from HKD 0.40 to HKD 0.01, aimed at offsetting accumulated losses[38] - The company raised approximately HKD 17,280,000 from a rights issue, which was fully utilized to repay part of the group's borrowings[37] Strategic Focus and Future Plans - The company plans to enhance operational cash flow to improve working capital conditions moving forward[9] - The company continues to focus on its core business of selling wooden products, furniture manufacturing, and providing interior design services[6] - The group is actively seeking strategic partnerships and potential acquisition targets to achieve sustainable growth[43] - The group aims to expand its business in the Chinese market, leveraging strong relationships with high-end brands and real estate developers[41] Governance and Compliance - The group is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[65] - The audit committee, consisting of three independent non-executive directors, reviewed the group's unaudited interim results and confirmed compliance with applicable accounting standards[69] Risks and Liabilities - The group faced foreign exchange risks primarily from sales and purchases settled in USD, RMB, EUR, and GBP, with no current hedging policies in place[62] - As of December 31, 2023, the group had no significant contingent liabilities, consistent with June 30, 2023[56] - The group had no significant capital commitments as of December 31, 2023, unchanged from June 30, 2023[61] Employment and Workforce - The group had 29 employees as of December 31, 2023, down from 41 employees as of June 30, 2023[60]