Financial Performance - Revenue for the six months ended June 30, 2024, was $8,661,523, a decrease of 22.8% compared to $11,234,029 for the same period in 2023[3] - Gross profit increased to $4,280,063, up 11.6% from $3,835,519 in the previous year[3] - Operating loss for the period was $2,424,327, compared to an operating profit of $8,673,805 in the same period last year[3] - Loss before income tax was $15,145,445, significantly higher than the loss of $1,981,684 reported in the prior year[3] - The net loss attributable to owners of the Company was $14,929,101, compared to a profit of $407,100 in the same period of 2023[3] - Total comprehensive losses for the period amounted to $15,935,622, compared to $4,965,630 in the previous year[4] - The basic and diluted loss per share attributable to owners of the Company was $(0.05) for the period, compared to $0.00 in the previous year[3] - For the six months ended June 30, 2024, the total cost of sales and expenses amounted to USD 13,730,030, a decrease of 20% from USD 17,268,682 in the same period of 2023[32] - The loss for the period amounted to US$15.1 million, compared to a profit of US$0.3 million in the same period last year[52] Assets and Liabilities - Non-current assets decreased to $146,729,173 from $162,036,565 as of December 31, 2023[5] - Cash and cash equivalents decreased to $16,838,811 from $20,567,731 at the end of 2023[5] - Inventories decreased to $3,494,938 from $4,267,405 as of December 31, 2023[5] - Total equity decreased from $171,496,978 as of December 31, 2023, to $155,144,778 as of June 30, 2024, representing a decline of approximately 9.5%[6] - Retained earnings fell from $91,067,419 to $76,138,318, a decrease of about 16.4%[6] - Total liabilities decreased from $24,441,947 to $20,600,327, reflecting a reduction of approximately 15.5%[6] - Non-current liabilities increased significantly, with lease liabilities rising from $270,670 to $882,957, an increase of about 226.5%[6] - Trade payables decreased from $768,202 to $672,197, a decline of approximately 12.5%[6] - The Group's total equity and liabilities amounted to $175,745,105 as of June 30, 2024, down from $195,938,925 as of December 31, 2023, indicating a decrease of about 10.3%[6] Segment Performance - For the six months ended June 30, 2024, external revenue totaled $8,661,523, with contributions of $5,703,739 from CAM and $2,228,633 from intelligent sensing[23] - The segment results showed an adjusted loss before tax of $12,983,736, with CAM reporting a profit of $1,574,592 and intelligent sensing a loss of $1,036,395[23] - Segment assets as of June 30, 2024, amounted to $137,510,048, with CAM holding $11,555,556 and intelligent sensing $2,836,582[25] - Revenue from the largest market, Europe, accounted for 73.1% of CAM's total sales, with a year-on-year decrease of 9.5% primarily due to a decline in product unit prices[40] - The Group's intelligent sense sales revenue was approximately US$2.2 million in the first half of 2024, an increase from US$0.6 million in the same period of 2023, accounting for 25.7% of total revenue[44] - Revenue from IC solutions was approximately US$0.7 million in the first half of 2024, representing a decrease of 84.5% compared to US$4.7 million in the first half of 2023, accounting for 8.4% of total revenue[44] Research and Development - The Group's R&D expenditure amounted to approximately US$2.6 million, primarily for staff costs and asset depreciation and amortization[44] - Research and development expenses decreased by 2.8% to US$5.4 million, remaining approximately at the same level as the previous year[49][50] - The Group plans to continue investing resources in IC solutions to promote the marketization process of new revenue growth points[44] - The Group is focused on optimizing the consumer electronics production line for health-related safety testing to improve product quality rate and delivery capabilities[63] Governance and Compliance - The Group maintains a public float of no less than 25% under the Listing Rules as of the announcement date[72] - The Group has complied with the Corporate Governance Code except for the separation of the roles of chairman and chief executive[74] - All Directors have complied with the required standards set out in the Model Code during the six months ended June 30, 2024[79] - The unaudited condensed consolidated interim financial information for the six months ended 30 June 2024 has not been reviewed by the Company's external auditor[80] Future Outlook - The Group aims to secure orders in the domestic market for the Simple TV Project in the fourth quarter, while promoting a full product series[60] - The Group plans to leverage the 8K broadcast opportunity to expedite the initiation of the switching project for state-secret cards[60] - The Group will enhance market research and customer needs exploration for its IC solutions business, aiming for diverse application scenarios in chip products[61] - The Group is actively monitoring industry trends and communicating with operators to uncover new market opportunities[42]
国微控股(02239) - 2024 - 中期业绩