Financial Performance - The company reported a revenue of HKD 1,224,403, a decrease of 27.1% compared to HKD 1,680,743 in the previous year[3]. - The operating loss for the period was HKD 144,205, compared to an operating profit of HKD 104,129 in the same period last year[3]. - The net loss attributable to shareholders was HKD 388,916, a significant decline from a profit of HKD 89,411 in the previous year[5]. - The total comprehensive loss for the period was HKD 448,308, compared to a total comprehensive loss of HKD 4,194 in the previous period, reflecting a significant increase in losses[11]. - For the six months ended June 30, 2024, the reported segment performance showed a loss of HKD 345,567,000 compared to a profit of HKD 129,059,000 for the same period in 2023[35]. - The company reported a net loss before tax of HKD 371,741,000 for the six months ended June 30, 2024, compared to a profit of HKD 101,231,000 for the same period in 2023[35]. - The company reported a net profit attributable to shareholders of HKD (388,916,000) for the six months ended June 30, 2024, compared to a profit of HKD 89,411,000 in the same period of 2023, resulting in a basic loss per share of HKD (0.81) compared to earnings of HKD 0.19 in 2023[45]. Assets and Liabilities - Total assets decreased to HKD 6,487,106 from HKD 7,310,256, reflecting a reduction of 11.3%[6]. - The company's cash and cash equivalents dropped to HKD 423,116 from HKD 942,040, a decrease of 55.1%[6]. - The total equity attributable to shareholders decreased to HKD 4,011,604 from HKD 4,474,267, a decline of 10.4%[8]. - As of June 30, 2024, total equity amounted to HKD 4,011,604, a decrease from HKD 4,413,093 on January 1, 2023, representing a decline of approximately 9.1%[11]. - The total assets reported as of June 30, 2024, were HKD 6,273,460,000, a decrease from HKD 7,076,596,000 as of December 31, 2023, reflecting a decline of approximately 11.3%[36]. - Total loans decreased to HKD 1,540,918,000 as of June 30, 2024, from HKD 1,790,678,000 as of December 31, 2023, reflecting a reduction of approximately 13.9%[63]. - The group’s trade payables as of June 30, 2024, were HKD 462,699,000, down from HKD 545,647,000 as of December 31, 2023, representing a decrease of approximately 15.1%[62]. Cash Flow and Investments - The net cash flow from operating activities for the six months ended June 30, 2024, was HKD 153,378, down from HKD 187,217 in the same period of 2023, indicating a decrease of about 18.1%[13]. - The cash flow from investing activities showed a net outflow of HKD 395,711, compared to a net inflow of HKD 232,886 in the previous year, indicating a significant shift in investment strategy[13]. - The company experienced a significant decrease in cash generated from investment activities, with cash inflows from the sale of property, plant, and equipment amounting to HKD 1,665, compared to HKD 595 in the previous year[13]. - The company’s financing income from interest decreased to HKD 10,696,000 for the six months ended June 30, 2024, compared to HKD 11,466,000 in the same period of 2023[41]. Dividends and Shareholder Information - The company declared a dividend of HKD 13,158, down from HKD 14,354 in the previous year[3]. - The company declared an interim dividend of HKD 0.0275 per share for the six months ended June 30, 2024, down from HKD 0.0300 per share in 2023, with total dividends amounting to HKD 13,158,000 compared to HKD 14,354,000 in the previous year[44]. - As of June 30, 2024, the company has a total of 136,828,569 shares held by director Wang Zhongmo, representing 28.60% of the issued shares[84]. - Salop Hong Kong Limited, fully owned by Wang Zhongmo, holds 135,828,569 shares, accounting for 28.39% of the issued shares[86]. - Cantrust (Far East) Limited is a trustee for 126,298,413 shares, which is 26.40% of the issued shares[86]. Segment Performance - The EMS segment generated revenue of HKD 1,193.1 million for the six months ended June 30, 2024, down from HKD 1,649.5 million in the previous year, with a segment profit of HKD 64.3 million, a decrease of 13.6%[76]. - The property holding segment recorded revenue of HKD 31.3 million, nearly unchanged from HKD 31.2 million in the previous year, but incurred a segment loss of HKD 409.9 million compared to a profit of HKD 54.6 million last year[77]. - Revenue from North America for the six months ended June 30, 2024, was HKD 157,169,000, a decrease from HKD 181,881,000 in the same period of 2023, representing a decline of 13.6%[37]. Governance and Compliance - The company has complied with the corporate governance code as per the listing rules, with the exception of the roles of Chairman and CEO being held by the same individual since February 2003[92]. - The current remuneration committee does not include responsibilities related to share schemes as outlined in the governance code, with the board overseeing the stock option plan[94]. - All directors confirmed compliance with the standard code of conduct for securities trading during the six months ending June 30, 2024[95]. - An audit committee, composed of three independent non-executive directors, reviewed the accounting principles and interim financial information for the six months ending June 30, 2024[96].
王氏国际(00099) - 2024 - 中期财报