Financial Performance - Revenue for the six months ended June 30, 2024, was $32.8 million, a decrease of 54.7% from $60.6 million in the same period of 2023[1] - Gross profit for the same period was $2.8 million, down 66.9% from $8.5 million year-over-year[1] - The company reported a net loss after tax of $2.4 million, compared to a profit of $3.0 million in the prior year, representing a decline of 180%[1] - Basic and diluted loss per share was $(0.0027), compared to earnings of $0.0033 per share in the previous year[3] - Total revenue for the six months ended June 30, 2024, was $32,849,975, a decrease of 45.9% compared to $60,607,091 for the same period in 2023[12] - The company reported a pre-tax loss of $2,418,066 for the current period, reflecting significant operational challenges[14] - Other comprehensive loss for the period was $(4.7 million), compared to a gain of $2.9 million in the same period last year[3] - The company recorded a net loss of $2.4 million for the six months ended June 30, 2024, compared to a net profit of $3.0 million for the same period last year, a decrease of $5.4 million[36][45] - Gross profit was approximately $2.8 million with a gross margin of 8.6%, down from $8.5 million and 14.0% for the same period last year[39] Assets and Liabilities - Total assets decreased to $91.9 million as of June 30, 2024, from $97.6 million at the end of 2023, a reduction of 5.7%[4] - Current liabilities decreased to $51.3 million from $52.8 million, reflecting a decline of 2.8%[4] - The company's equity attributable to shareholders decreased to $46.4 million from $51.1 million, a drop of 9.1%[5] - Total trade receivables decreased to $7,801,963 as of June 30, 2024, from $10,282,879 as of December 31, 2023, reflecting a decline of approximately 24.3%[27] - The total trade payables increased to $3,919,493 as of June 30, 2024, from $2,101,628 as of December 31, 2023, indicating a significant rise[30] - As of June 30, 2024, the group's net current assets amounted to $40.6 million, a decrease from $44.8 million as of December 31, 2023[46] - The group's cash and bank deposits totaled $53.0 million as of June 30, 2024, down from $54.0 million as of December 31, 2023[47] - The debt ratio decreased to 73.1% as of June 30, 2024, compared to 83.7% as of December 31, 2023[46] Expenses - Sales cost for the six months ended June 30, 2024, was $30.0 million, a decrease of 42.5% from $52.2 million for the same period last year[38] - Distribution expenses decreased by 36.7% to $1.9 million from $3.0 million for the same period last year[40] - Administrative and other operating expenses decreased by 8.8% to $3.1 million from $3.4 million for the same period last year[41] - Employee costs for the six months ended June 30, 2024, totaled $4,884,839, a decrease of 15.7% from $5,799,568 in the same period of 2023[18] - Financing income decreased by 97.9% to $0.03 million from $1.45 million for the same period last year[43] Business Operations - The company identified two reportable segments for resource allocation and performance evaluation, focusing on motorcycle manufacturing and spare parts[11] - The company’s motorcycle production capacity is 200,000 units per year, with manufacturing facilities located in Dong Nai Province and Hanoi, Vietnam[32] - The company plans to expand into markets outside of ASEAN, including Europe and the Middle East, to enhance brand competitiveness[35] - The company launched a new scooter model, PRITI, which received over 3,000 sales orders within 15 days of its release[34] - The company aims to strengthen product design and core technology development as part of its focus on product innovation[55] Governance and Compliance - The company did not declare an interim dividend for the six months ended June 30, 2024[1] - The company did not adopt any new standards or interpretations that were not yet effective during the accounting period[10] - The company has no significant capital commitments or contingent liabilities as of June 30, 2024[50] - The company maintains compliance with corporate governance codes and standards as of June 30, 2024[59] - The unaudited interim results for the six months ending June 30, 2024, have been reviewed by the company's audit committee, confirming compliance with applicable accounting standards and regulations[63] - The board of directors does not recommend the payment of an interim dividend for the six months ending June 30, 2024, consistent with the previous period[64] - The interim results announcement will be published on the Hong Kong Stock Exchange's disclosure website and the company's website[65] Impairment and Investments - The company incurred impairment losses of $282,675 for property, plant, and equipment during the current period, compared to $255,900 for the six months ended June 30, 2023[19] - The company recognized impairment losses of $282,675 for other properties, plant, and equipment for the six months ended June 30, 2024, compared to $255,900 for the same period in 2023[26] - The total cost of other properties, plant, and equipment was reported at $282,675 for the six months ended June 30, 2024, up from $264,367 for the same period in 2023[25] - The company has allocated approximately $76.7 million from its IPO proceeds for various projects, including $15.0 million for building new specialty stores[57] - The company has no major acquisitions or disposals of subsidiaries or associates during the six months ended June 30, 2024[50]
越南制造加工出口(00422) - 2024 - 中期业绩