Financial Performance - Revenue for the first half of 2024 was HKD 1,176,888, a decrease of 10% compared to HKD 1,310,613 in the same period of 2023[1] - Gross profit for the first half of 2024 was HKD 413,836, down 13% from HKD 476,332 in 2023[1] - Operating profit attributable to joint ventures decreased by 36% to HKD 141,385 from HKD 220,380 year-on-year[1] - Adjusted net profit fell by 53% to HKD 164,011, compared to HKD 349,414 in the previous year[1] - Net profit for the period was HKD 23,415, a significant decline of 93% from HKD 357,007 in 2023[1] - Basic earnings per share for the first half of 2024 was HKD 0.001, down 99% from HKD 0.115 in the same period last year[2] - The company reported a total comprehensive loss of HKD 111,619 for the period, compared to a total comprehensive income of HKD 26,515 in the previous year[4] - The EBITDA for the group, excluding fair value gains on financial assets, was HKD 75,379,000 for the first half of 2024, compared to HKD 168,465,000 in the same period of 2023, indicating a significant decrease of about 55%[19] - The group reported a net profit of HKD 23,415,000 for the six months ended June 30, 2024, compared to HKD 357,007,000 for the same period in 2023, marking a decrease of around 93%[19] Assets and Liabilities - Total assets decreased by 7% to HKD 12,147,823 from HKD 13,031,718 as of December 31, 2023[2] - Total liabilities amounted to HKD 5,253,700,000 as of June 30, 2024, compared to HKD 4,481,707,000, reflecting an increase of 17.3%[6] - The total equity and liabilities amounted to HKD 13,031,718,000, an increase from HKD 12,147,823,000, representing a growth of 7.3%[6] - The total assets of the group as of June 30, 2024, amounted to HKD 12,147,823,000, while total liabilities were HKD 4,481,707,000, resulting in a net asset position[20] - The company’s cash and cash equivalents decreased to HKD 3,010,791,000 as of June 30, 2024, from HKD 3,591,920,000 as of December 31, 2023[52] - The company’s total equity as of June 30, 2024, was HKD 7,666,116,000, compared to HKD 7,778,018,000 at the end of 2023[61] Segment Performance - The company operates in four main segments: payment and digital services, fintech services, platform operation solutions, and financial solutions[15] - The revenue from the payment and digital services segment was HKD 892,230,000, a decline of 13% from HKD 1,023,502,000 in the first half of 2023[64] - The revenue from the fintech services segment dropped 62% to HKD 43,904,000 from HKD 115,660,000 in the first half of 2023[65] - The operating loss for the fintech services segment was HKD 20,536,000, compared to a profit of HKD 55,574,000 in the same period last year[65] - The revenue from platform operation solutions was HKD 57,057,000, a decrease of 5% from HKD 59,918,000 in the first half of 2023[66] - The revenue from financial solutions increased by 5% to HKD 99,810,000 from HKD 94,858,000 in the previous year[67] Investments and Impairments - The group reported a significant impairment loss of HKD 140,865,000 on an investment in an associate during the first half of 2024[19] - The fair value of financial assets recorded a loss of HKD 2,165,000 for non-listed investment funds during the reporting period[14] - The recoverable amount of the investment in Zhaoxun Hengtai was approximately HKD 342,597,000, leading to an impairment loss of HKD 140,865,000 recognized in the income statement for the period[43] - The investment in associates as of June 30, 2024, was HKD 3,459,550 thousand, a decrease from HKD 3,606,250 thousand as of December 31, 2023[39] Employee and Operational Costs - Employee benefits expenses increased to HKD 454,638,000 for the six months ended June 30, 2024, compared to HKD 424,363,000 in the same period last year, reflecting a growth of approximately 7.5%[23] - Research and development costs, including employee costs, rose to HKD 165,965,000, up from HKD 133,553,000, indicating a year-on-year increase of about 24.2%[23] - The group incurred financing costs of HKD 924,000 for the first half of 2024, compared to HKD 2,179,000 in the same period of 2023, showing a reduction of approximately 58%[19] Future Outlook and Strategic Plans - The company anticipates a challenging economic environment in the second half of 2024, despite a stable domestic economy and improving external demand[90] - The company remains optimistic about the recovery of the national economy, despite facing numerous challenges in the domestic market[90] - The company is actively exploring market expansion in the Middle East and Africa, with plans to sign new clients in these regions[96] - The company has adopted a stock incentive plan aimed at enhancing employee alignment with shareholder interests, potentially reducing its stake in Shenzhen Gaoyang from 50.91% to approximately 42.75%[87] Shareholder Information - No dividends were declared or paid for the six months ended June 30, 2024, consistent with the previous year[28] - The company did not purchase, sell, or redeem any of its shares during the period[106] - The audit committee reviewed the unaudited interim consolidated results for the six months ending June 30, 2024[108]
高阳科技(00818) - 2024 - 中期业绩