Financial Performance - TOM Group's consolidated revenue decreased by 9.6% to HKD 342.34 million for the six months ending June 30, 2024, compared to HKD 378.67 million in the same period last year[3]. - The group's media business generated revenue of HKD 332.2 million, while the technology platform and investment segment reported revenue of HKD 10 million[4]. - Shareholders' loss attributable to the company was HKD 145.41 million, an increase from HKD 94.55 million in the previous year[3]. - The net loss of the e-commerce business, Youle, narrowed by 40.8% to RMB 33 million compared to the same period last year[1]. - The publishing group in Taiwan recorded total revenue of HKD 328 million, a decrease of 7.8% due to adverse exchange rates and geopolitical instability[5]. - The social media business, Pixnet, reported total revenue of HKD 8 million with a segment loss of HKD 800,000, impacted by the 2024 Taiwan elections[6]. - The group recorded a revenue of HKD 342.34 million for the six months ending June 30, 2024, a decrease from HKD 378.67 million in the same period last year, representing a decline of approximately 9.6%[16]. - The net loss attributable to shareholders for the period was HKD 145.41 million, compared to a loss of HKD 94.55 million in the previous year, indicating an increase in loss of approximately 54%[16]. - The gross profit margin for the group was 40.2% during the reporting period[16]. - The company reported a loss of HKD 143,459,000 for the six months ended June 30, 2024, compared to a loss of HKD 89,505,000 in the same period of 2023, representing a 60.4% increase in losses[17]. - Total comprehensive expenses for the period amounted to HKD 261,380,000, significantly higher than HKD 106,259,000 in the previous year, indicating a 146.5% increase[17]. - Total loss for the six months ended June 30, 2024, amounted to HKD 1,241,781,000, compared to a loss of HKD 94,547,000 in the previous period[21]. - The group's accumulated losses reached HKD 6,551,257,000 as of June 30, 2024, reflecting an increase from HKD 94,547,000 in the previous period[21]. Assets and Liabilities - The company's total liabilities net of current assets stood at HKD 2,253,201,000, down from HKD 2,462,994,000, a decrease of 8.5%[18]. - The company's equity attributable to shareholders showed a loss of HKD 1,844,889,000 as of June 30, 2024, compared to HKD 1,595,424,000 at the end of 2023, indicating a 15.6% increase in accumulated losses[19]. - Non-current assets decreased from HKD 2,127,657,000 as of December 31, 2023, to HKD 2,037,960,000 as of June 30, 2024, reflecting a decline of 4.2%[18]. - Current assets also decreased from HKD 880,243,000 to HKD 740,048,000, a reduction of 15.9%[18]. - The company's cash and cash equivalents decreased from HKD 494,551,000 to HKD 421,797,000, a decline of 14.7%[18]. - The group's net liabilities stood at HKD 1,552,000,000 as of June 30, 2024, indicating a significant financial position[22]. - The total assets as of June 30, 2024, were HKD 2,778,008,000, with total liabilities amounting to HKD 4,329,849,000[28]. Operational Highlights - The group employed approximately 1,100 full-time employees, with total employee costs, including director remuneration, amounting to HKD 148 million for the first six months of the year[15]. - The group plans to continue optimizing costs and developing new products to capture growth opportunities in the online video platform market[6]. - The group plans to continue flexible and prudent management of its operations and investments in the Greater China region, accelerating the expansion of its digital business[8]. - The company plans to continue focusing on technology platform development and market expansion strategies in the upcoming quarters[27]. - The group operates five reportable segments, including e-commerce, mobile internet, social networking, publishing, and advertising[23]. Financial Management - The group's cash and bank balance (excluding pledged deposits) was approximately HKD 422.2 million as of June 30, 2024[9]. - The total credit facility available to the group was HKD 4.52 billion, with 82.3% utilized, amounting to HKD 3.71 billion for investments, capital expenditures, and working capital[9]. - The group's current ratio (current assets/current liabilities) decreased to 1.41 from 1.62 as of December 31, 2023[10]. - The net cash outflow from operating activities was HKD 62 million, compared to a net outflow of HKD 31 million in the same period last year[10]. - The group’s capital debt ratio increased to 171.6% as of June 30, 2024, from 154.4% as of December 31, 2023[9]. - The company reported a basic loss per share of HKD 0.037[40]. Investments and Stakeholdings - TOM Group holds an 8% stake in WeLab, which has over 64 million users and has facilitated over USD 13 billion in loans[6]. - TOM Group also holds a 6.22% stake in Miaoying Technology, a leading provider of ESG data and software in Asia[6]. - The company reported a net loss from equity-accounted investments of HKD 5,511,000 for the six months ended June 30, 2024, compared to a loss of HKD 13,937,000 in the previous period[31]. - The equity-accounted investments as of June 30, 2024, were valued at HKD 361,736,000, a decrease from HKD 374,996,000 as of December 31, 2023[31]. Sustainability and Corporate Governance - The group has established four sustainability goals aligned with the United Nations Sustainable Development Goals[45]. - The company has focused on achieving sustainable and recurring profits while maintaining financial strength and stability[50]. - The group emphasizes revenue growth, profit management, and rigorous cost control as part of its corporate strategy[50]. - The company has complied with all applicable provisions of the corporate governance code during the six months ended June 30, 2024[47]. - The independent review report by the auditors will be included in the interim results report to shareholders[46]. - There were no repurchases, sales, or redemptions of any listed securities during the six months ended June 30, 2024[49]. Miscellaneous - The past performance of the group does not guarantee future results, and actual performance may differ significantly from forward-looking statements[51].
TOM集团(02383) - 2024 - 中期业绩