Financial Performance - For the six months ended June 30, 2024, Nexion Technologies Limited reported revenue of HKD 6,946,000, an increase of 15% compared to HKD 6,039,000 for the same period in 2023[4] - The company incurred a loss from continuing operations of HKD 3,485,000, compared to a loss of HKD 1,937,000 in the previous year, indicating a significant increase in losses[5] - Total comprehensive loss for the period was HKD 4,339,000, slightly improved from HKD 4,398,000 in the prior year[5] - The basic and diluted loss per share from continuing operations was HKD 0.37, compared to HKD 0.29 in the previous year[12] - The company reported a net loss of HKD 3,485 million for the six months ended June 30, 2024, compared to a net loss of HKD 1,937 million for the same period in 2023[32] - The group recorded a loss of approximately HKD 3,785,000 for the six months ended June 30, 2024, compared to a loss of approximately HKD 3,712,000 for the same period in 2023, primarily due to reduced performance in the cybersecurity solutions and SaaS segments[74] Revenue and Segments - For the six months ended June 30, 2024, the total revenue from external customers was HKD 7,040 million, compared to HKD 9,017 million for the same period in 2023, representing a decrease of approximately 22%[31] - Revenue from Malaysia for the six months ended June 30, 2024, was HKD 3,936 million, up from HKD 1,654 million in 2023, reflecting an increase of approximately 138%[36] - The total revenue from the SaaS segment was HKD 1,138 million for the first half of 2024, down from HKD 2,978 million in 2023, representing a decrease of approximately 62%[38] - Revenue from the cybersecurity solutions segment was approximately HKD 5,808,000 for the six months ended June 30, 2024, up from approximately HKD 4,333,000 for the same period in 2023, attributed to improved project success rates and an expanded customer base[68] Costs and Expenses - The cost of goods sold increased to HKD 3,547,000 from HKD 1,064,000, reflecting a substantial rise in operational costs[4] - Employee costs and related expenses rose to HKD 3,398,000, up from HKD 2,730,000, indicating increased investment in human resources[4] - Sales and marketing expenses rose to approximately HKD 845,000 for the six months ended June 30, 2024, compared to approximately HKD 86,000 for the same period in 2023, driven by increased sales commissions from new customer projects[72] - The adjusted EBITDA for the network security solutions segment was HKD (74) million for the first half of 2024, compared to HKD 875 million for the same period in 2023, indicating a significant decline[31] - The company's total adjusted EBITDA for continuing operations was HKD (667) million for the first half of 2024, compared to HKD 1,239 million for the same period in 2023[34] Assets and Liabilities - The company reported cash and cash equivalents of HKD 13,539,000, down from HKD 17,597,000 at the end of 2023, showing a decrease in liquidity[20] - The company's total assets decreased from HKD 42,490 million as of December 31, 2023, to HKD 28,047 million as of June 30, 2024, representing a decline of approximately 34%[22] - The company's total equity attributable to shareholders decreased from HKD 42,336 million as of December 31, 2023, to HKD 27,904 million as of June 30, 2024, a decline of approximately 34%[23] - The company's total liabilities increased from HKD 8,422 million to HKD 13,394 million, indicating a rise of approximately 59%[22] - As of June 30, 2024, the group had current assets of approximately HKD 28,308,000, down from approximately HKD 32,926,000 as of December 31, 2023, with cash and bank balances of approximately HKD 13,539,000[75] Operational Changes - The company has relocated its main operating location from Singapore to Malaysia as of March 1, 2024, which may impact future operational strategies[26] - The company has shifted its focus towards network security solutions, capitalizing on the growing market opportunities in Southeast Asia[66] - The company has terminated its network infrastructure solution services, marking a strategic pivot in its business model[66] Shareholder and Governance - The company issued 147,960,000 new shares at a price of HKD 0.024 per share, raising approximately HKD 3,434,000 net of direct costs[64] - Major shareholders included Alpha Sense Investments Limited and XOX (Hong Kong) Limited, holding 17.44% and 13.27% of the shares, respectively[87] - The company maintained compliance with the corporate governance code, except for the deviation regarding the separation of the roles of Chairman and CEO[89] Other Financial Metrics - The company reported a net cash inflow from investing activities of HKD 37 million for the six months ended June 30, 2024, compared to a net cash outflow of HKD (569) million for the same period in 2023[24] - The company recognized other income of HKD 154 million for the six months ended June 30, 2024, compared to HKD 92 million in 2023[40] - The company reported a pre-tax loss of HKD 300,000 for the six months ended June 30, 2024, compared to a loss of HKD 1,775,000 for the same period in 2023[60]
NEXION TECH(08420) - 2024 - 中期业绩