Financial Performance - For the six months ending 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[4] - 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[4] - 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[4] - The financial services segment generated total revenue of approximately HKD 4,000,000, maintaining a similar level to the previous year[4] - The company'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 about 15% from HKD 18,870,604 year-on-year, with a gross margin decline from approximately 67% to 62%[11] - The net loss attributable to the company's owners for the six months ended June 30, 2024, was approximately HKD 25,397,930, compared to a net loss of HKD 11,751,122 for the same period in 2023[11] - The company reported a loss per share of approximately HKD 0.1097 for the six months ended June 30, 2024, compared to a loss per share of HKD 0.0506 for the same period in 2023[11] - The company reported a pre-tax loss of HKD 24,823,655 for the six months ended June 30, 2024, compared to a pre-tax loss of HKD 11,083,369 for the same period in 2023, indicating a significant increase in losses[43] Revenue Breakdown - Revenue from customer contracts was HKD 22,002,677, down 8.7% from HKD 24,113,209 in the previous year[36] - Advertising and media services generated HKD 12,160,058 in revenue, an increase from HKD 11,589,918 in the prior year, while financial services revenue decreased to HKD 239,289 from HKD 89,088[37] - Revenue from geographical markets showed a decline in Hong Kong, with HKD 11,335,449 compared to HKD 12,887,745 in 2023, while Singapore revenue remained stable[37] - The advertising and media services segment generated revenue of HKD 21,763,388, while the financial services segment contributed HKD 4,200,784, with no revenue from skincare product retail[40] Expenses and Liabilities - Administrative expenses increased by approximately 11% to HKD 40,500,000, primarily due to rising employee costs and professional service fees[11] - The company incurred service costs of HKD 9,923,097 for the six months ended June 30, 2024, compared to HKD 9,399,950 for the same period in 2023, reflecting an increase in operational expenses[46] - The company’s financing costs, including lease liabilities and bank interest, totaled HKD 556,192 for the six months ended June 30, 2024, down from HKD 871,537 in the previous year[45] - Total liabilities were HKD 50,826,234 as of June 30, 2024[40] Cash Flow and Assets - The company reported a net cash outflow from operating activities of HKD 14,300,375 for the six months ended June 30, 2024, compared to HKD 13,497,778 for the same period in 2023[29] - Total assets decreased from HKD 197,153,331 as of December 31, 2023, to HKD 168,632,783 as of June 30, 2024, reflecting a decline of approximately 14.5%[26] - Cash and cash equivalents as of June 30, 2024, were approximately HKD 68,000,000, down from HKD 81,000,000 as of December 31, 2023[12] - Total trade and other receivables decreased to HKD 18,143,339 as of June 30, 2024, down from HKD 22,851,824 as of December 31, 2023[54] Strategic Developments - The company has expanded its digital outdoor media network to cover 1,626 selected locations in Hong Kong and Singapore, an increase from 1,599 locations in the previous year[6] - The partnership with Hivestack aims to enhance programmatic digital out-of-home (pDOOH) advertising, which is expected to be a major growth driver in the coming years[7] - The company plans to explore new investment opportunities in various sectors to achieve business diversification and sustainable development[4] Corporate Governance - The company has adopted the GEM Listing Rules as the code of conduct for securities trading by directors, with no reported violations during the period[76] - The company has complied with the corporate governance code as per GEM Listing Rules Appendix C1 Part 2 for the six months ending June 30, 2024[77] - The audit committee has been established and consists of three independent non-executive directors, responsible for reviewing the company's risk management and internal control systems[79] Shareholder Information - Major shareholders include Masan Multi Strategy Fund SPC, holding 49,032,000 shares, representing approximately 21.37% of the company's equity[72] - The company did not redeem any of its listed securities during the six months ended June 30, 2024[74] - There are no reported conflicts of interest or competitive activities involving directors or major shareholders during the reporting period[75]
基石金融(08112) - 2024 - 中期财报