Financial Performance - For the six months ended June 30, 2024, the company reported total revenue of approximately HKD 26,000,000, a decrease of about 7.14% from HKD 28,000,000 in the same period last year[5]. - The net loss for the same period was approximately HKD 25,000,000, compared to a net loss of HKD 12,000,000 in the previous year, indicating a significant increase in losses[5]. - The group's revenue for the six months ended June 30, 2024, was approximately HKD 25,964,172, a decrease of about 8% compared to HKD 28,270,554 for the same period in 2023[10]. - Gross profit for the same period was approximately HKD 16,041,075, down 15% from HKD 18,870,604 in the previous year, resulting in a gross margin decline from approximately 67% to 62%[12]. - The group reported a net loss of approximately HKD 25,397,930 for the six months ended June 30, 2024, compared to a net loss of HKD 11,751,122 for the same period in 2023[10]. - The company reported a loss before tax of HKD 24,823,655, significantly higher than the loss of HKD 11,083,369 for the six months ended June 30, 2023[24]. - Total comprehensive loss for the period was HKD 25,503,679, compared to HKD 11,755,374 in the previous year, reflecting a substantial increase in losses[25]. - Basic and diluted loss per share for the six months ended June 30, 2024, was HKD 10.97, compared to HKD 5.06 for the same period in 2023[25]. - The company reported a total comprehensive expense of HKD 25,312,652 for the six months ended June 30, 2024, which includes both losses and other comprehensive expenses[29]. Revenue Breakdown - Revenue from the advertising and media business was approximately HKD 22,000,000, down about 9% from HKD 24,000,000 in the prior year[5]. - The financial services segment generated total revenue of approximately HKD 4,000,000, maintaining a similar level compared to the previous year[5]. - Revenue from customer contracts decreased to HKD 22,002,677 for the six months ended June 30, 2024, down 8.8% from HKD 24,113,209 in the prior year[37]. - Advertising and media services generated revenue of HKD 21,763,388, down from HKD 24,024,121 in 2023, reflecting a decrease of about 9.4%[41]. - Financial services revenue was HKD 4,200,784, slightly down from HKD 4,246,433 in the previous year, indicating a decrease of approximately 1.1%[41]. Expenses and Costs - Administrative expenses rose to approximately HKD 40,500,000, an increase of about 11% from HKD 36,500,000 in the previous year, primarily due to higher employee costs and professional service fees[12]. - The total employee cost for the six months ended June 30, 2024, was approximately HKD 16,000,000, compared to HKD 14,000,000 for the same period in 2023[19]. - The company's service costs increased to HKD 9,923,097 for the six months ended June 30, 2024, compared to HKD 9,399,950 for the same period in 2023, representing an increase of about 5.6%[47]. - The company incurred financing costs of HKD 556,192 for the six months ended June 30, 2024, compared to HKD 871,537 for the same period in 2023, showing a decrease of approximately 36.1%[46]. Assets and Liabilities - The company's cash and cash equivalents were approximately HKD 68,000,000 as of June 30, 2024, down from HKD 81,000,000 at the end of 2023[13]. - The debt ratio as of June 30, 2024, was approximately 3.1%, up from 2.3% at the end of 2023[14]. - Non-current assets decreased to HKD 6,948,400 as of June 30, 2024, from HKD 10,616,681 as of December 31, 2023[27]. - Current assets increased slightly to HKD 168,632,783 from HKD 197,153,331 at the end of 2023[27]. - Total liabilities decreased to HKD 50,187,035 from HKD 55,844,193 as of December 31, 2023[27]. - The company's net asset value as of June 30, 2024, was HKD 124,754,949, down from HKD 150,258,628 at the end of 2023[28]. - The total assets as of June 30, 2024, amounted to HKD 175,581,183, compared to HKD 207,770,012 as of December 31, 2023, showing a decrease of approximately 15.5%[41]. - Total liabilities as of June 30, 2024, were HKD 50,826,234, down from HKD 57,511,384 as of December 31, 2023, reflecting a decrease of about 11.7%[41]. Strategic Outlook - The company plans to explore new investment opportunities in various sectors to achieve business diversification and sustainable development[5]. - The management acknowledges the challenges in the Hong Kong securities industry, which continues to lag behind other major markets[6]. - The company will continue to monitor market developments and adjust its business strategies as necessary to mitigate negative impacts[6]. - The outlook for the financial services business remains challenging, influenced by the pace of recovery in local and global financial markets[6]. Shareholder Information - The company did not declare any dividends for the six months ended June 30, 2024, consistent with the previous year[18]. - The company did not recommend any dividend payment for the six months ended June 30, 2024, consistent with the previous year[50]. - The company's issued and fully paid share capital remained at HKD 2,294,184 as of June 30, 2024, unchanged from December 31, 2023[64]. - As of June 30, 2024, the company had a total of 229,418,448 shares issued, with An Xilei holding 6,800,000 shares, representing approximately 2.96% of the company's equity[70]. - Masan Multi Strategy Fund SPC – Masan HK Equity Fund SP holds 49,032,000 shares, accounting for 21.37% of the company's equity[73]. Governance and Compliance - The audit committee reviewed the unaudited condensed consolidated financial information for the six months ending June 30, 2024, ensuring compliance with applicable accounting standards[80]. - The company has not established an internal audit function but will hire an independent external consultant annually to review its risk management and internal control systems[79]. - The company provided quarterly updates to the board instead of monthly updates, including consolidated financial statements and key events during the reporting period[79]. - The company has complied with the corporate governance code as per GEM Listing Rules, except for the absence of an internal audit function[78].
基石金融(08112) - 2024 - 中期业绩