Financial Performance - For the six months ended June 30, 2024, the group's revenue increased by 4% to HKD 47.2 million compared to HKD 45.6 million for the same period in 2023[1] - The group reported a profit of HKD 2.1 million for the six months ended June 30, 2024, compared to a loss of HKD 4.4 million for the same period in 2023[1] - Gross profit for the six months ended June 30, 2024, was HKD 24.6 million, slightly up from HKD 24.4 million in the same period of 2023[2] - Operating profit for the period was HKD 2.3 million, a significant improvement from an operating loss of HKD 4.2 million in the previous year[2] - Basic and diluted earnings per share for the six months ended June 30, 2024, were HKD 0.659 cents, compared to a loss of HKD 1.365 cents per share in the same period of 2023[2] - Total comprehensive income for the period was HKD 1.43 million, recovering from a loss of HKD 4.6 million in the same period last year[3] - Revenue for the interim period was HKD 47.2 million, a 4% increase from HKD 45.6 million in the same period of 2023[20] Assets and Liabilities - Non-current assets decreased from HKD 17.98 million as of December 31, 2023, to HKD 15.63 million as of June 30, 2024[4] - Current assets increased from HKD 59.63 million as of December 31, 2023, to HKD 63.64 million as of June 30, 2024[4] - The group's net current assets improved from HKD 44.5 million to HKD 46.7 million during the same period[4] - Accounts receivable, net of impairment losses, increased to 7,910,000 HKD as of June 30, 2024, from 6,662,000 HKD as of December 31, 2023[17] - Accounts payable increased to 9,331,000 HKD as of June 30, 2024, from 6,338,000 HKD as of December 31, 2023, reflecting a growth of approximately 47.3%[18] - Net asset value as of June 30, 2024, was HKD 59.7 million, an increase of HKD 1.5 million from HKD 58.2 million on December 31, 2023[23] - The group's total assets as of June 30, 2024, were valued at HKD 59.7 million, up from HKD 58.2 million as of December 31, 2023[29] Cash Flow - As of June 30, 2024, the group's cash and cash equivalents amounted to HKD 23.0 million, an increase from HKD 20.2 million as of December 31, 2023[29] - The net cash inflow from operating activities during the interim period was HKD 6.1 million, compared to a net cash outflow of HKD 9.0 million in 2023, attributed to improved cash management and operational efficiency[29] - The group recorded a net cash outflow from investing activities of HKD 0.9 million, a decrease from HKD 1.8 million in 2023, due to reduced capital expenditures for project development[29] Operational Highlights - The company operates as a single business segment focused on the development, sale, and distribution of smart card products, software, and hardware, along with related services[10] - The company successfully launched new products including ACR1555U BT NFC reader and ACR1552U-A2 WaterGuard NFC reader in the first half of 2024, with more products expected in the second half[25] - The WalletMate NFC reader won the "Innovative Product" Gold Award at the International Internet of Things Exhibition (IOTE) 2024, highlighting the company's commitment to innovation[27] - The company anticipates positive growth opportunities in Japan following the reopening of its office in March 2023, with plans to allocate more resources to support market development[28] - The board has decided to cease operations in the Philippines to streamline business processes for sustainable growth[28] - The company remains optimistic about future growth despite global economic uncertainties, expecting new products to stimulate customer spending and generate new sales revenue[28] Expenses and Costs - Operating expenses decreased by 22% to HKD 22.7 million from HKD 29.2 million in the same period of 2023, primarily due to reduced staff costs and effective cost-saving measures[22] - The employee cost for the interim period was HKD 15.3 million, with a total of 91 dedicated full-time employees[34] Dividends and Shareholder Returns - The board does not recommend the payment of an interim dividend for the six months ended June 30, 2024[1] - The group has not engaged in any buybacks, sales, or redemptions of its listed securities during the interim period[35] Taxation - The company did not recognize any income tax provisions for Hong Kong profits tax due to tax losses recorded for the periods ended June 30, 2024, and June 30, 2023[14] Research and Development - The company successfully applied for a research and development subsidy of 116,000 HKD from the Shenzhen government in the previous reporting period[12] Debt and Financial Ratios - The debt ratio of the group was 0% as of June 30, 2024, consistent with the ratio as of December 31, 2023[30] - The group had no significant sales or acquisitions of subsidiaries or associates during the interim period[31] - As of June 30, 2024, the group had no major capital commitments related to the acquisition of properties, plants, or equipment[31] Audit and Review - The audit committee reviewed the unaudited consolidated results for the six months ended June 30, 2024, and discussed relevant financial matters with the management[38]
高维科技(02086) - 2024 - 中期业绩