Workflow
中彩网通控股(08071) - 2024 - 中期业绩
CH NETCOMTECHCH NETCOMTECH(HK:08071)2024-08-13 14:16

Financial Performance - The group's unaudited consolidated revenue from continuing operations for the six months ended June 30, 2024, was approximately HKD 22,541,000, representing an increase of about 129% compared to HKD 9,850,000 for the same period in 2023[4] - The unaudited consolidated loss attributable to owners from continuing and discontinued operations for the six months ended June 30, 2024, was approximately HKD 3,402,000, compared to a loss of HKD 4,396,000 for the same period in 2023[4] - The basic and diluted loss per share from continuing and discontinued operations for the six months ended June 30, 2024, was approximately HKD 0.07, an improvement from HKD 0.09 for the same period in 2023[4] - The gross profit for the six months ended June 30, 2024, was approximately HKD 6,114,000, compared to HKD 1,800,000 for the same period in 2023[6] - The total comprehensive loss for the period was approximately HKD 4,098,000, compared to HKD 5,666,000 for the same period in 2023[7] - The group recorded a pre-tax loss of approximately HKD 4,106,000 for the six months ended June 30, 2024, compared to a pre-tax loss of HKD 5,620,000 for the same period in 2023[6] - The company did not recommend the payment of any interim dividend for the six months ended June 30, 2024, consistent with the previous year[4] Assets and Liabilities - As of June 30, 2024, the total assets decreased to HKD 24,777 million from HKD 31,467 million in 2023, representing a decline of approximately 21.3%[8] - The company's cash and bank balances decreased to HKD 17,225 million from HKD 20,516 million, a reduction of about 16.5% year-over-year[11] - Non-current liabilities decreased from HKD 247 million in 2023 to HKD 109 million in 2024, a reduction of approximately 55.8%[9] - The company's equity attributable to owners decreased to HKD 14,976 million from HKD 18,382 million, reflecting a decline of about 18.5%[9] - The total current liabilities decreased to HKD 12,151 million from HKD 15,259 million, a decrease of approximately 20.5%[8] - The total equity as of June 30, 2024, was HKD 13,022 million, down from HKD 17,120 million in 2023, indicating a decrease of approximately 24%[9] - As of June 30, 2024, the group had total assets of approximately HKD 25,282,000 and total liabilities of approximately HKD 12,260,000, resulting in a debt-to-asset ratio of zero[37] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2024, was HKD 170 million, a significant improvement compared to a cash outflow of HKD 7,646 million in the same period of 2023[11] - The net cash used in investing activities was HKD 704 million, compared to a cash inflow of HKD 192 million in the same period of 2023[11] - The group reported a net foreign exchange gain of HKD 219,000 for the six months ended June 30, 2024, compared to a loss of HKD 568,000 in the same period of 2023[21] Business Operations - The group has terminated its lottery business, focusing solely on smart retail services, which include digital transformation solutions and integrated software services for retail enterprises[14] - The group plans to focus on its smart retail business, including cloud services and system development, to drive future growth[44] - The group will continue to monitor market trends and consumer demands while exploring opportunities in flexible supply chains and new retail[44] Corporate Governance - The board of directors confirmed the accuracy and completeness of the information provided in the announcement, ensuring no misleading or fraudulent elements were present[2] - The company has complied with all provisions of the corporate governance code, except for the separation of the roles of Chairman and CEO, which are currently held by the same individual[50][51] - The audit committee has reviewed the unaudited consolidated results for the six months ended June 30, 2024, and found no discrepancies in the accounting treatment[53] Shareholder Information - As of June 30, 2024, the total number of issued shares for 51 Credit Card is 1,358,320,188, with major shareholders holding approximately 39.16% of the shares[47] - The beneficial owner, Mr. Zuo Lei, holds 515,665,000 shares, representing 11.00% of the total issued shares[47] Other Financial Information - The company incurred a loss provision for trade and other receivables amounting to HKD 4,846,000 for the six months ended June 30, 2024, compared to HKD 251,000 in the same period of 2023, indicating a substantial increase in provisions[21] - Trade and other receivables totaled HKD 6,628,000 as of June 30, 2024, down from HKD 13,427,000 as of December 31, 2023, representing a decrease of approximately 51%[29] - Trade payables amounted to HKD 11,015,000 as of June 30, 2024, compared to HKD 13,013,000 as of December 31, 2023, reflecting a decrease of about 15%[30] - The company’s depreciation expense for property, plant, and equipment was HKD 3,000 for the six months ended June 30, 2024, down from HKD 10,000 in the same period of 2023[28] - The company’s administrative expenses before tax loss were reported as HKD (197,000) for the six months ended June 30, 2024, compared to HKD (196,000) in the same period of 2023, indicating a slight increase[23] - The total employee cost, including directors' remuneration, was approximately HKD 2.7 million for the six months ended June 30, 2024, compared to HKD 6.5 million for the same period in 2023[43] - The group has not made any significant investments or acquisitions during the six months ended June 30, 2024[39] - The group has not recognized any significant deferred tax liabilities as of June 30, 2024, and has not made provisions for Hong Kong profits tax due to no taxable profits generated[20] - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2024, but these changes did not significantly impact the financial results[12] - The group is currently evaluating the impact of newly issued financial reporting standards that have been announced but are not yet effective[12] - No purchases, sales, or redemptions of the company's listed securities occurred during the six months ended June 30, 2024[55]