Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 93,109,000, a decrease of 5% compared to HKD 98,392,000 for the same period in 2023[5] - Gross profit for the same period was HKD 38,006,000, representing an increase of 1.7% from HKD 37,368,000 in 2023[5] - The company's profit before tax decreased to HKD 5,389,000, down 38.5% from HKD 8,733,000 in the previous year[5] - Net profit for the period was HKD 5,666,000, a decline of 31.9% compared to HKD 8,293,000 in 2023[5] - Basic and diluted earnings per share for the period were HKD 1.23, down from HKD 1.77 in the same period last year[6] - The group reported a profit attributable to owners of the company of HKD 5,192 thousand for the six months ended June 30, 2024, compared to HKD 7,192 thousand for the same period in 2023[23] - Net profit after tax decreased by approximately HKD 2.6 million or 31% to about HKD 5.7 million for the six months ended June 30, 2024, compared to HKD 8.3 million for the same period in 2023[35] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 152,954,000, an increase from HKD 141,149,000 as of December 31, 2023[7] - The company's total equity decreased to HKD 87,637,000 from HKD 89,844,000 at the end of 2023[8] - Non-current liabilities increased significantly to HKD 19,400,000 from HKD 712,000 at the end of 2023, primarily due to lease liabilities[8] - Trade receivables as of June 30, 2024, were HKD 23,191 thousand, a decrease from HKD 26,245 thousand as of December 31, 2023[24] - Trade payables increased to HKD 21,291 thousand as of June 30, 2024, compared to HKD 12,822 thousand as of December 31, 2023[25] - The group's total assets increased to approximately HKD 153.0 million as of June 30, 2024, compared to HKD 141.1 million as of December 31, 2023[38] - The group's debt-to-equity ratio increased to approximately 23.7% as of June 30, 2024, compared to 8.4% as of December 31, 2023[39] Cash Flow - The company reported a net cash outflow from operating activities of HKD (6,129,000) for the six months ended June 30, 2024, compared to a net inflow of HKD 5,426,000 in 2023[11] - Cash and cash equivalents decreased by HKD 28,571,000, ending at HKD 62,006,000 as of June 30, 2024, compared to HKD 56,779,000 in 2023[11] - The company's cash and bank balances decreased to HKD 62,006,000 from HKD 90,576,000 at the end of 2023[7] - The group's total cash outflow from investing activities was HKD (7,867,000) for the six months ended June 30, 2024, compared to HKD (2,822,000) in 2023[11] - Financing activities resulted in a cash outflow of HKD (14,575,000) for the six months ended June 30, 2024, compared to HKD (4,265,000) in the previous year[11] Revenue Breakdown - The company provided financial printing services generated revenue of HKD 71,658,000, down from HKD 81,816,000 in the previous year, representing a decline of approximately 12.5%[15] - Revenue from marketing-related printing services increased to HKD 9,609,000, up 62% from HKD 5,923,000 in the same period last year[15] - The group’s revenue decreased by approximately HKD 5.3 million or 5.4% to about HKD 93.1 million for the six months ended June 30, 2024, compared to HKD 98.4 million for the same period in 2023[28] - Gross profit increased by approximately HKD 0.6 million or 1.6% to about HKD 38.0 million, with gross margins of approximately 38.0% and 40.8% for the six months ended June 30, 2023, and 2024, respectively[29] Employee and Administrative Expenses - The total employee benefit expenses for the six months ended June 30, 2024, amounted to HKD 37,296 thousand, slightly down from HKD 37,388 thousand in the previous year[21] - Administrative expenses increased by approximately HKD 2.6 million or 10.7% to about HKD 26.9 million, primarily due to increased employee costs and depreciation of right-of-use assets[32] - The group employed a total of 167 employees across various regions as of June 30, 2024, compared to 171 employees as of December 31, 2023[37] Shareholder Information - As of June 30, 2024, the company has a total of 421,415,000 shares issued, with major shareholders holding significant stakes[45] - Mr. Yu and Mr. Chan jointly control 217,760,000 shares, representing 51.67% of the total shares[44] - Ms. Chan holds 8,050,000 shares, accounting for 1.91% of the total shares[44] - HM Ultimate Holdings Limited, owned by Mr. Yu and Mr. Chan, holds 217,760,000 shares, which is 51.67% of the company[47] - Mr. Xie holds 72,285,000 shares, representing 17.15% of the total shares[47] Corporate Governance - The company has complied with all principles and code provisions of the corporate governance code during the review period[59] - There were no conflicts of interest involving directors, management, or controlling shareholders with respect to competitive businesses during the review period[60] - The company has adopted the trading compliance standards as per GEM Listing Rules 5.48 to 5.67, ensuring all directors adhered to these standards during the review period[61] - The Audit Committee, established on December 15, 2016, consists of three independent non-executive directors and is responsible for reviewing the company's financial reporting processes and risk management[62] Future Plans - The company plans to continue exploring market expansion opportunities and new product development strategies in the upcoming periods[5] - The group plans to leverage its strong financial position and management network to expand its current business and explore other related business opportunities[27] Lease and Property - The rental agreement for the property at 248 Queen's Road East, Hong Kong, has a monthly rent of HKD 333,554 from April 1, 2024, to March 31, 2027, and HKD 370,615 from April 1, 2027, to March 31, 2029[57] - The right-of-use asset recognized under the lease agreement is approximately HKD 16,954,000, calculated based on the total lease payments discounted[57]
HM INTL HLDGS(08416) - 2024 - 中期业绩