Financial Performance - Total revenue for the six months ended June 30, 2024, was HKD 235.7 million, a decrease of 14.8% compared to HKD 276.8 million in the same period of 2023[2] - Total management fees decreased by 18.3% to HKD 200.8 million from HKD 245.9 million year-on-year[2] - The profit attributable to the company's owners increased significantly by 663.3% to HKD 37.4 million, compared to HKD 4.9 million in the previous year[2] - Basic and diluted earnings per share rose to HKD 2.0, up 566.7% from HKD 0.3 in the same period last year[2] - Net income totalled HKD 161.3 million, down from HKD 188.3 million, reflecting a decrease of 14.4%[3] - Operating profit before other income was HKD 602,000, a recovery from a loss of HKD 3.0 million in the previous year[3] - The company reported a net profit of HKD 37,365,000 for the period ending June 30, 2024, compared to HKD 4,880,000 for the same period in 2023, indicating a significant increase in profitability[11] - Total revenue for the six months ending June 30, 2024, was HKD 92,019,000, while the previous year reported a loss of HKD 3,829,000, showcasing a strong recovery[8] Expenses and Costs - Total expenses for salaries and benefits decreased to HKD 98,528,000 from HKD 126,223,000 year-over-year, reflecting a reduction of approximately 21.9%[8] - The company's total expenses for the first half of 2024 were HKD 300 million, with a focus on cost management and resource allocation[50] - Employee compensation and benefits decreased by 17.0% to HKD 97.7 million in the first half of 2024, compared to HKD 117.7 million in the same period of 2023[51] - Other operating expenses for the period amounted to HKD 50.1 million, slightly down from HKD 52.6 million in the first half of 2023[52] Assets and Equity - Non-current assets decreased to HKD 1,575.0 million from HKD 1,746.9 million as of December 31, 2023[4] - Cash and cash equivalents decreased to HKD 922.4 million from HKD 1,558.9 million[4] - The company's total equity increased slightly to HKD 3,570.1 million from HKD 3,542.7 million[4] - The Group's total equity was HKD 35.701 billion, an increase from HKD 35.427 billion as of December 31, 2023[55] Investments and Joint Ventures - Investments in joint ventures amounted to HKD 512,565,000 as of June 30, 2024, down from HKD 606,068,000 at the end of 2023, indicating a decrease of approximately 15.4%[14] - The group's share of losses from joint ventures amounted to HKD 46.0 million, a decline from a profit of HKD 17.3 million in the same period last year[47] - The Group's investment in gold ETF decreased to 9,981,524 units, representing 20.3% of the total investment, with a fair value of HKD 460.3 million[48] Dividends - The company declared a special dividend of HKD 913,355,000 for the year ending December 31, 2023, which was paid on January 23, 2024[12] - The company did not recommend any interim dividend for the six months ending June 30, 2024, compared to no dividend declared in the same period of 2023[12] - The Group declared a special dividend of HKD 0.5 per share in December 2023, which was paid on January 23, 2024[53] Market and Investment Strategies - The company is actively pursuing opportunities in the growing demand for professional wealth management solutions in China, as more investors diversify their portfolios[26] - The company aims to enhance its market coverage and strengthen relationships with existing local partners in a competitive environment[31] - The company launched a Japan Real Estate Fund in April 2024, which is the first and only Japan REITs product authorized by the Hong Kong Securities and Futures Commission[32] - The company’s investment strategies, particularly in Asia-focused high dividend equity funds, have shown strong performance, capitalizing on opportunities in markets like Taiwan, Korea, and Japan[33] Awards and Recognition - The company received five awards at the Bloomberg Businessweek/Chinese Edition "2023 Leading Funds" event, recognizing its investment capabilities[33] Sustainability and Corporate Governance - The company has transitioned its sustainability agenda from "ESG 1.0" to "ESG 2.0," covering 18 sustainable development themes and conducting approximately 150 thematic interactions, a 50% increase from 2023[34] - The audit committee has reviewed the group's accounting principles and practices, including the unaudited interim results for the six months ended June 30, 2024[61] - The company has adopted the standard code of conduct for securities trading by directors as per the listing rules appendix C3[64] - All directors confirmed compliance with the standard code of conduct as of June 30, 2024[64] Employee and Operational Changes - The group employed 125 staff in Hong Kong as of June 30, 2024, a decrease from 141 staff as of June 30, 2023[59] - The Group's employee rebate amounted to HKD 1.8 million in the first half of 2024, compared to HKD 1.4 million in the same period of 2023[51] Shareholder Communication - The interim results will be published on the Hong Kong Stock Exchange website and the company's website[64] - The interim report will be mailed to shareholders and published at an appropriate time on both platforms[64] - The company expresses gratitude to shareholders, business partners, distributors, and customers for their loyal support[65] - The company acknowledges the contributions of dedicated employees to its achievements[65]
惠理集团(00806) - 2024 - 中期业绩