Financial Performance - Total revenue reached HKD 1,180,634, an increase of 17.7% compared to HKD 1,002,756 in the first half of 2023[3] - Subscription service revenue was HKD 545,000, up 16.8% from HKD 467,000 in the first half of 2023, accounting for 46.2% of total revenue; value-added service revenue was HKD 635,000, an 18.5% increase from HKD 536,000[3] - Gross profit was HKD 504,117, representing a growth of 28.3% from HKD 392,773 in the first half of 2023, with a gross margin of 42.7%, up approximately 3.5 percentage points[3] - Net profit for the period was HKD 46,322, a 36.5% increase from HKD 33,928 in the first half of 2023[3] - Adjusted net profit was HKD 64,261, up 10.7% from HKD 58,067 in the first half of 2023[3] - Adjusted EBITDA was HKD 196,306, an increase of 8.3% from HKD 181,333 in the first half of 2023[3] Revenue Breakdown - Total revenue for the reporting period reached HKD 1,181 million, representing a year-on-year growth of approximately 17.1%[10] - Subscription service revenue amounted to HKD 545 million, with a year-on-year increase of about 16.8%, accounting for approximately 46.2% of total revenue[12] - Value-added service revenue was HKD 635 million, reflecting a year-on-year growth of around 18.5%, making up about 53.8% of total revenue[13] - Revenue from the U.S. market was HKD 572 million, showing a year-on-year growth of approximately 30.0%, and accounting for about 48.4% of total revenue[15] - Revenue from the China market reached HKD 605 million, with a year-on-year increase of about 8.0%, representing approximately 51.2% of total revenue[15] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 3,721,191, compared to HKD 3,506,108 as of December 31, 2023[2] - Total liabilities increased to HKD 1,539,280 from HKD 1,366,296 as of December 31, 2023[2] - Cash and cash equivalents as of June 30, 2024, totaled approximately HKD 317 million, with current assets of about HKD 1,717 million and current liabilities of approximately HKD 944 million, resulting in a current ratio of 1.8[36] Strategic Focus - The company is focusing on high-quality development and sustainable growth, particularly in the area of copyright protection and monetization services[5] - The strategic opportunity lies in expanding services in the AIGC field, enhancing capabilities to manage copyright and content monetization[6] - The company is actively participating in the construction of regional copyright ecosystems, particularly in mainland China and Hong Kong[9] - The company aims to enhance its global industry position by seizing significant opportunities for industrial transformation and continuing technological innovation[9] Research and Development - Research and development expenses for the six months ended June 30, 2024, were approximately HKD 143 million, an increase of about HKD 48 million or 50% from HKD 95 million for the same period in 2023[27] - The company has strengthened its collaboration with the University of Florida, particularly in the field of artificial intelligence, enhancing its technical capabilities[17] - The company is enhancing content identification and rights confirmation technology, significantly reducing the time required for rights confirmation through improved AI algorithms[17] Corporate Governance - The company has adhered to all applicable principles of the Corporate Governance Code, except for the provision C.2.1, which states that the roles of Chairman and CEO should be separate[74] - The board consists of two executive directors, two non-executive directors, and three independent non-executive directors, ensuring a balanced distribution of power[74] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results for the six months ended June 30, 2024, and confirmed compliance with relevant accounting standards[77] Earnings Per Share - Basic earnings per share increased to HKD 0.0184 from HKD 0.0132, reflecting a rise of 39.4% year-over-year[38] - The basic earnings per share attributable to the owners of the company for the period was calculated based on 2,252,048,052 shares, compared to 2,210,092,429 shares in 2023[55] Dividend Policy - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024[30] - The group did not recommend any dividend for the period ended June 30, 2024, consistent with the previous year[55] Financial Position - The company has no significant contingent liabilities or guarantees as of June 30, 2024, indicating a stable financial position[68] - The company continues to monitor foreign exchange risks, particularly with USD and RMB, to mitigate the impact of currency fluctuations[69]
阜博集团(03738) - 2024 - 中期业绩