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汇盈控股(00821) - 2024 - 中期财报
00821VC HOLDINGS(00821)2024-09-27 08:43

Revenue Performance - For the six months ended June 30, 2024, the Group recorded a decrease in revenue primarily due to a slight drop in brokerage commissions, with traditional brokerage and financing businesses contributing approximately 79% of total revenue compared to 80% in the same period last year[8][9]. - For the six months ended 30 June 2024, the Group's consolidated revenue was approximately HK36.0million,adecreaseofabout936.0 million, a decrease of about 9% compared to approximately HK39.4 million during the same period in 2023[26][27]. - Revenue from brokerage and financing accounted for 79% of total revenue, amounting to HK28.6million,down928.6 million, down 9% from HK31.5 million in the same period last year[29][30]. - Interest income from money lending clients was HK15.96million,representing4415.96 million, representing 44% of total revenue, compared to 48% in the previous year[30]. - The total revenue from brokerage and financing businesses was approximately HK28.6 million, a decrease of about 9% compared to HK31.5millionforthesameperiodlastyear,accountingforapproximately7931.5 million for the same period last year, accounting for approximately 79% of the Group's total revenue[33]. - Revenue from corporate finance and other advisory services was approximately HK2.7 million for the six months ended June 30, 2024, compared to HK2.3millionforthesameperiodin2023[79].−TheassetmanagementsegmentrecordedrevenueofapproximatelyHK2.3 million for the same period in 2023[79]. - The asset management segment recorded revenue of approximately HK0.8 million, an increase of 14.3% from HK0.7millionforthesameperiodin2023[80][83].−TheinsurancebrokeragesegmentgeneratedrevenueofapproximatelyHK0.7 million for the same period in 2023[80][83]. - The insurance brokerage segment generated revenue of approximately HK2.5 million, up 19% from HK2.1millioninthepreviousyear[81][84].−RevenuefromthesalesandmarketingofdigitalassetswasapproximatelyHK2.1 million in the previous year[81][84]. - Revenue from the sales and marketing of digital assets was approximately HK1.3 million, a decrease of 51.9% from HK2.7millioninthepreviousyear[89].FinancialLossesandImprovements−TheGrouprecordedaconsolidatedlossofapproximatelyHK2.7 million in the previous year[89]. Financial Losses and Improvements - The Group recorded a consolidated loss of approximately HK65.9 million for the six months ended 30 June 2024, significantly reduced from a loss of approximately HK133.7millionforthesameperiodin2023[26][27].−Thedecreaseinlosswasprimarilyduetoareductioninnetrealizedandunrealizedlossesonfinancialassetsheld−for−tradingbyapproximatelyHK133.7 million for the same period in 2023[26][27]. - The decrease in loss was primarily due to a reduction in net realized and unrealized losses on financial assets held-for-trading by approximately HK42.3 million compared to the same period last year[27][28]. - The Group's segment loss for brokerage and financing was HK6.17million,asignificantimprovementfromalossofHK6.17 million, a significant improvement from a loss of HK25.57 million in the same period last year[31]. - The brokerage and financing businesses reported an operating loss after tax of approximately HK6.2millionforthesixmonthsendedJune30,2024,animprovementfromalossofHK6.2 million for the six months ended June 30, 2024, an improvement from a loss of HK25.6 million in the same period of 2023[75]. - The loss attributable to owners of the Company for the six months ended June 30, 2024, was HK65,377,000,asignificantimprovementfromalossofHK65,377,000, a significant improvement from a loss of HK134,059,000 in the same period of 2023, representing a reduction of approximately 51.2%[106]. Asset Management and Investments - The Group's proprietary trading financial assets, primarily in equity securities listed in Hong Kong, were valued at approximately HK113.8million,reflectinga27113.8 million, reflecting a 27% decrease in market value compared to December 31, 2023[11]. - The Group held equity securities listed in Hong Kong valued at approximately HK113.8 million as of June 30, 2024, representing about 22% of the Group's total assets, down from 30% at the end of 2023[85][87]. - The Group disposed of 54,540,000 shares of China Nuclear Energy Technology Corporation for an aggregate consideration of approximately HK22.79millionduringtheperiodfromJanuary10,2023,toJanuary15,2024[12].−TheGroupalsosold17,360,000sharesofHGSemiconductorLimitedforapproximatelyHK22.79 million during the period from January 10, 2023, to January 15, 2024[12]. - The Group also sold 17,360,000 shares of HG Semiconductor Limited for approximately HK17.8 million from July 11, 2023, to March 18, 2024[12]. - The Group's investment in 56,216,000 shares of Hao Tian International Construction Investment Group Limited was valued at approximately HK45.0million,whichisabout945.0 million, which is about 9% of the Group's total assets[99]. Human Resources and Cost Management - The Group has restructured its human resources to enhance cost-efficiency, resulting in a decrease in staff costs during the reporting period[8]. - Staff costs decreased by approximately HK13.1 million for the period ended 30 June 2024 compared to the same period last year[27][28]. - As of June 30, 2024, the Group employed a total of 61 employees, a decrease from 74 employees as of December 31, 2023[95]. - Salaries and staff benefit costs for the first half of 2024 amounted to approximately HK20.7million,downfromHK20.7 million, down from HK32.5 million in the same period of 2023, reflecting a decrease of approximately HK13.1million[95].MarketConditionsandStrategicFocus−InvestmentsentimentinHongKongremainedcautiousinthefirsthalfof2024,influencedbyhighinterestratesandglobaluncertainties[5][6].−TheGroupaimstooptimizeresourceallocationandexplorenewbusinessopportunitiestodrivesteadygrowthamidchallengingeconomicconditionsinHongKong[25].−TheGroupisfocusingonopportunitiesinthenaturalgasindustry,aligningwithitslong−termstrategicgoalsrelatedtogreenenergyandESG[25].−TheGroupcontinuestoofferlocalandoverseassecuritiestrading,placements,underwriting,andmarginfinancingthroughVCBrokerageLimited[9].ImpairmentandCreditLosses−AnadditionalimpairmentlossofapproximatelyHK13.1 million[95]. Market Conditions and Strategic Focus - Investment sentiment in Hong Kong remained cautious in the first half of 2024, influenced by high interest rates and global uncertainties[5][6]. - The Group aims to optimize resource allocation and explore new business opportunities to drive steady growth amid challenging economic conditions in Hong Kong[25]. - The Group is focusing on opportunities in the natural gas industry, aligning with its long-term strategic goals related to green energy and ESG[25]. - The Group continues to offer local and overseas securities trading, placements, underwriting, and margin financing through VC Brokerage Limited[9]. Impairment and Credit Losses - An additional impairment loss of approximately HK18.3 million on brokerage client receivables was recorded for the six months ended June 30, 2024, compared to HK9.8millionforthesameperiodlastyear[34].−TheloanreceivablesclassifiedasStage2(Doubtful)amountedtoHK9.8 million for the same period last year[34]. - The loan receivables classified as Stage 2 (Doubtful) amounted to HK61.2 million as of June 30, 2024, down from HK93.1millionasofDecember31,2023[69].−TheloanreceivablesclassifiedasStage3(Default)increasedtoHK93.1 million as of December 31, 2023[69]. - The loan receivables classified as Stage 3 (Default) increased to HK112.6 million as of June 30, 2024, up from HK78.5millionasofDecember31,2023[69].−Thepercentageofloansandinterestreceivablesfromthelargestcustomerandthefivelargestcustomerstototalloansandinterestreceivableswereabout1078.5 million as of December 31, 2023[69]. - The percentage of loans and interest receivables from the largest customer and the five largest customers to total loans and interest receivables were about 10% and 40%, respectively[38]. - The aging analysis of accounts receivable shows that as of June 30, 2024, HK53,293,000 was overdue by more than 90 days, compared to HK24,785,000asofDecember31,2023,indicatingasignificantincreaseinoverduereceivables[172].FinancialPositionandRatios−TotalassetsasofJune30,2024,wereHK24,785,000 as of December 31, 2023, indicating a significant increase in overdue receivables[172]. Financial Position and Ratios - Total assets as of June 30, 2024, were HK452,938,000, down from HK516,560,000asofDecember31,2023,reflectingadecreaseofapproximately12.3516,560,000 as of December 31, 2023, reflecting a decrease of approximately 12.3%[108]. - Current liabilities decreased to HK49,509,000 from HK54,438,000,areductionofabout9.454,438,000, a reduction of about 9.4%[109]. - Net assets as of June 30, 2024, were HK447,349,000, down from HK$513,282,000 at the end of 2023, representing a decline of approximately 12.8%[109]. - The Group's gearing ratio as of June 30, 2024, was approximately 7.7%, an increase from 6.0% as of December 31, 2023[98]. - The Group's current ratio was maintained at approximately 9 times as of June 30, 2024, consistent with the ratio as of December 31, 2023[96]. Compliance and Regulatory Matters - The company has maintained compliance with all relevant laws and regulations, with no objections or investigations from the Registrar of Money Lenders or the Commissioner of Police regarding its lending activities[62]. - The Group's financial statements are presented in Hong Kong dollars, which is also the functional currency of the Company[125]. - The Group has applied new amendments to HKFRSs for the first time, including HKAS 1 and HKFRS 16, effective from 1 January 2024, with no material impact on financial performance[127].