Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 329,077,000, a decrease of 12.4% from HKD 375,853,000 for the same period in 2023[2] - Gross profit for the same period was HKD 21,263,000, down 20.2% from HKD 26,618,000 in 2023[2] - Profit before tax decreased to HKD 12,898,000, representing a decline of 37.5% compared to HKD 20,565,000 in the previous year[2] - Net profit for the period was HKD 9,510,000, down 42.5% from HKD 16,590,000 in 2023[2] - Total comprehensive income for the period was HKD 7,957,000, a decrease of 46.0% from HKD 14,748,000 in the same period last year[2] - Basic and diluted earnings per share were both HKD 0.97, down from HKD 1.69 in 2023[2] - The segment profit for the financing leasing and consulting services was HKD 20,308 thousand, down from HKD 25,436 thousand, reflecting a decline of 20.5%[14][15] - The company reported a pre-tax profit of HKD 12,898 thousand for the six months ended June 30, 2024, down from HKD 20,565 thousand for the same period in 2023[14][15] - The company reported a profit attributable to shareholders for the six months ended June 30, 2024, was HKD 9,488,000, compared to HKD 16,634,000 for the same period in 2023, representing a decrease of approximately 43%[26] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 490,126,000, an increase from HKD 407,874,000 at the end of 2023[3] - Total liabilities increased to HKD 368,650,000 from HKD 231,254,000 at the end of 2023[3] - The company's equity increased to HKD 115,831,000 as of June 30, 2024, compared to HKD 107,874,000 at the end of 2023[3] - The total assets as of June 30, 2024, amounted to HKD 496,322 thousand, an increase of 19.6% compared to HKD 414,741 thousand as of December 31, 2023[16] - The total liabilities increased to HKD 380,491 thousand as of June 30, 2024, up from HKD 306,867 thousand as of December 31, 2023, representing a rise of 24%[17] - Trade receivables as of June 30, 2024, amounted to HKD 481,363,000, an increase from HKD 360,993,000 as of December 31, 2023, reflecting a growth of about 33%[31] - Trade payables increased significantly to HKD 158,979,000 as of June 30, 2024, compared to HKD 77,837,000 as of December 31, 2023, representing a growth of approximately 104%[33] - Other payables decreased to HKD 46,747,000 as of June 30, 2024, down from HKD 62,464,000 as of December 31, 2023, indicating a reduction of about 25%[33] - The total liabilities as of June 30, 2024, amounted to HKD 214,137,000, compared to HKD 145,477,000 as of December 31, 2023, marking an increase of about 47%[33] Cash Flow and Financing - For the six months ended June 30, 2024, the net cash used in operating activities was HKD (9,943,000), compared to a net cash generated of HKD 7,508,000 in the same period of 2023[5] - The total cash and cash equivalents decreased by HKD 12,176,000, while the cash and cash equivalents at the beginning of the period were HKD 24,335,000, resulting in a balance of HKD 12,224,000 as of June 30, 2024[5] - The cash flow used in financing activities was HKD (2,238,000), compared to HKD (412,000) in the same period of 2023, indicating increased cash outflow[5] - The group issued HKD 10 million of promissory notes with a 3% annual interest rate, maturing in two years, to be used for working capital[57] - The group has issued convertible bonds totaling HKD 39 million with a 5% annual interest rate, maturing in three years, with proceeds intended for operational funding[58] - The company aims to diversify its funding sources and explore fundraising opportunities, particularly from financial institutions[59] Operational Highlights - The company continues to focus on providing financing leasing and consulting services, as well as cross-border business operations[6] - The company has been engaged in cross-border business since 2017, expanding through S2B2C and B2C models to enhance revenue sources[50] - The financing leasing business has been a major part of the company's operations since 2014, with ongoing efforts to identify suitable expansion opportunities[51] - The company is exploring opportunities to expand and enhance its cross-border trade business and will make announcements in due course[48] - The company aims to provide value-added services to e-commerce distributors and end customers through its cross-border business model[50] Compliance and Governance - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance with applicable disclosure requirements[6] - The company has complied with the corporate governance code as of June 30, 2024[73] - The board has confirmed adherence to the standards for directors' securities trading as of June 30, 2024[74] - The audit committee has reviewed the unaudited interim financial statements for the six months ended June 30, 2024[75] Shareholder Information - The company did not declare or propose any dividends for the reporting period ending June 30, 2024, consistent with the previous year[24] - The company will not declare any interim dividend for the six months ended June 30, 2024, consistent with the previous year[72] - The company's shares were suspended from trading on September 2, 2024, pending the announcement of interim results[76] - Trading of the company's shares is set to resume on September 16, 2024, following the publication of interim results[76] - The company has appointed Mr. Zhang Rujie as its authorized representative effective from September 14, 2024[77]
正乾金融控股(01152) - 2024 - 中期业绩