Financial Performance - Revenue decreased from approximately HKD 93.1 million for the six months ended June 30, 2023, to approximately HKD 86.1 million for the six months ended June 30, 2024, a decline of about 7.5%[45]. - The company recorded a profit of approximately HKD 1.0 million for the six months ended June 30, 2024, compared to a loss of approximately HKD 15.0 million for the same period in 2023[55]. - The company achieved a profit before tax of HKD 990 thousand, a turnaround from a loss of HKD 15,032 thousand in the previous year[82]. - Basic and diluted earnings per share were HKD 0.09, compared to a loss of HKD 1.43 per share in the prior year[82]. - Gross profit increased from approximately HKD 8.6 million to approximately HKD 11.0 million, with the gross profit margin rising from about 9.3% to 12.8%[47]. - The company reported unaudited revenue of HKD 86,194 thousand for the six months ended June 30, 2024, a decrease of 7.1% compared to HKD 93,114 thousand in the same period of 2023[82]. - Gross profit for the same period was HKD 11,035 thousand, compared to HKD 8,634 thousand in 2023, reflecting a significant increase[82]. - The company reported a profit attributable to equity holders of HKD 990 thousand, compared to a loss of HKD 15,032 thousand in the same period last year[107]. Cost Management - Direct costs reduced from approximately HKD 84.4 million to approximately HKD 75.1 million, a decrease of about 11.0%, attributed to lower subcontracting and material costs[46]. - Administrative expenses decreased by approximately HKD 3.9 million or 28.4%, from approximately HKD 13.8 million to approximately HKD 9.9 million, due to effective cost control measures[48]. - The company’s financing costs decreased by approximately 80% from HKD 0.5 million to HKD 0.1 million due to reduced bank borrowings[53]. - Employee costs for the six months ended June 30, 2024, were HKD 14,780 thousand, down from HKD 18,620 thousand in the previous year[102]. Liquidity and Financial Position - The current ratio remained stable at approximately 1.3 times as of December 31, 2023, and increased to approximately 1.4 times as of June 30, 2024[56]. - The company’s total borrowings amounted to approximately HKD 5.9 million as of June 30, 2024, down from approximately HKD 7.9 million as of December 31, 2023[56]. - Current liabilities decreased to HKD 75,604 thousand from HKD 90,983 thousand at the end of 2023, indicating improved liquidity[84]. - The net cash generated from operating activities was HKD 2,034 thousand, compared to a cash outflow of HKD 1,148 thousand in the same period last year[88]. - The company reported a cash and cash equivalents balance of HKD 2,268 thousand at the end of June 2024, down from HKD 4,392 thousand a year earlier[88]. Business Operations and Strategy - The company is actively seeking opportunities to expand its business outside of Hong Kong[44]. - The company is focused on expanding its operations in the RMAA sector, which includes maintenance, repair, and alteration works[89]. - The company secured 32 new projects during the six months ended June 30, 2024, with a total contract value of approximately HKD 68.0 million[45]. Shareholder Information - The group has not proposed any interim dividend for the six months ending June 30, 2024[77]. - The group did not recommend any interim dividend for the six months ended June 30, 2024, and June 30, 2023[106]. - The total issued and paid-up share capital remained at HKD 10,500,000 as of June 30, 2024, unchanged from the previous periods[128]. Governance and Compliance - The announcement confirms that the board of directors has collectively and individually accepted responsibility for the accuracy and completeness of the information provided[2]. - The company emphasizes the higher investment risks associated with GEM-listed companies, targeting experienced investors[3]. - The company has a commitment to transparency and accountability in its financial reporting practices[2]. - The group has established an audit committee to oversee the integrity of financial reporting and the independence of external auditors[80]. Assets and Liabilities - Total assets as of June 30, 2024, were HKD 111,876 thousand, down from HKD 125,375 thousand as of December 31, 2023[84]. - Trade receivables and deposits totaled HKD 35,966 million as of June 30, 2024, compared to HKD 29,853 million as of December 31, 2023, indicating an increase of about 20.5%[113]. - The aging analysis of trade receivables shows that overdue amounts over 365 days increased to HKD 6,026 million from HKD 3,225 million, reflecting a rise of approximately 86.5%[115]. - Contract assets decreased to HKD 65,503 million as of June 30, 2024, from HKD 87,676 million as of December 31, 2023, a decline of about 25.3%[117]. - Contract liabilities also decreased to HKD 64,323 million from HKD 86,496 million, representing a reduction of approximately 25.6%[117]. Employee Information - As of June 30, 2024, the group employed a total of 73 employees, down from 89 employees as of December 31, 2023, with employee costs approximately HKD 14.0 million compared to HKD 18.6 million in the previous year[65]. - The total remuneration for key management personnel increased to HKD 2,649,000 from HKD 2,382,000, reflecting an increase of approximately 11%[130].
洢人壹方控股(08305) - 2024 - 中期业绩