Financial Performance - The company recorded unaudited revenue of approximately HKD 187,680,000 for the six months ended June 30, 2024, representing an increase of about 14.82% compared to HKD 163,460,000 for the same period in 2023[2] - The unaudited profit for the six months ended June 30, 2024, was approximately HKD 9,150,000, a decrease of about 20.85% from HKD 11,560,000 for the same period in 2023[2] - Basic earnings per share for the six months ended June 30, 2024, were approximately HKD 1.14, down from HKD 1.44 for the same period in 2023[2] - The total comprehensive income for the six months ended June 30, 2024, was HKD 9,672,000, compared to HKD 11,058,000 for the same period in 2023[4] - The company reported a net profit of HKD 11,558,000 for the six months ended June 30, 2024, compared to HKD 11,058,000 for the same period in 2023, showing a growth of about 4.5%[7] - Profit for the period decreased by approximately 20.85%, from HKD 11,560,000 for the six months ended June 30, 2023, to HKD 9,150,000 for the same period in 2024[44] Dividends - The board declared an interim dividend of HKD 1.4 cents per share for the six months ended June 30, 2024, compared to HKD 0.75 cents per share for the same period in 2023[2] - The group declared an interim dividend of HKD 0.014 per ordinary share for the six months ended June 30, 2024[52] - The interim dividend will be payable on September 10, 2024, to shareholders on record as of September 5, 2024[66] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 218,160,000, an increase from HKD 209,529,000 as of December 31, 2023[5] - As of June 30, 2024, total liabilities amounted to HKD 57,312,000, an increase from HKD 53,353,000 as of June 30, 2023, representing a growth of approximately 5.5%[6] - The total equity as of June 30, 2024, was HKD 160,848,000, up from HKD 150,291,000 on June 30, 2023, indicating an increase of about 7.1%[7] - The asset-to-liability ratio was approximately 1.14% as of June 30, 2024, down from 1.45% as of December 31, 2023[45] Cash Flow - Cash flow from operating activities for the six months ended June 30, 2024, was HKD 24,197,000, slightly down from HKD 25,374,000 for the same period in 2023, reflecting a decrease of approximately 4.6%[8] - The net cash flow from investing activities for the six months ended June 30, 2024, was negative HKD 19,602,000, compared to positive HKD 20,240,000 in the prior year, indicating a significant shift in investment cash flow[8] - The total cash and cash equivalents decreased to HKD 10,650,000 as of June 30, 2024, from HKD 52,930,000 at the end of June 30, 2023, representing a decline of approximately 79.9%[8] Employee Expenses - Employee benefit expenses increased to HKD 167,145,000 for the six months ended June 30, 2024, from HKD 147,411,000 for the same period in 2023[3] - Employee benefits expenses for the six months ended June 30, 2024, totaled HKD 167,145,000, an increase of 13.4% from HKD 147,411,000 for the same period in 2023[20] - The group employed a total of 1,613 employees as of June 30, 2024, with employee benefit expenses amounting to approximately HKD 167,150,000 for the six months ended June 30, 2024[53] Operational Highlights - The company operates a single business segment providing property management services in Hong Kong, with all assets located in the same region[12] - The group currently manages a portfolio of 17 public housing estates owned by the Hong Kong Housing Authority and 6 housing projects under the Home Ownership Scheme[38] - The group signed 4 new contracts during the review period, which are expected to commence in 2025[38] - The government plans to build approximately 360,000 public housing units over the next ten years, providing new opportunities for the group[40] - The group is collaborating with the Hong Kong University of Science and Technology to develop an innovative property management platform using digital twin technology[39] - The group remains optimistic about future business development opportunities in the public housing management market[40] Shareholder Information - As of June 30, 2024, Mr. Peng Yiting holds 687,649,500 shares, representing 85.95% of the company's equity[54] - Mr. Wu Fuhua holds 80,000,000 shares, accounting for 10.00% of the company's equity[54] - On January 26, 2024, the company entered into an agreement to purchase 473,870,000 shares, which represents approximately 59.23% of the company's issued share capital, at a maximum price of HKD 165,854,500, equivalent to HKD 0.35 per share[55] - After the acquisition, the offeror and its concert parties will collectively own 767,649,500 shares, which corresponds to approximately 69.23% of the total issued shares[56] - Major shareholder Asia United Infrastructure Holdings owns 687,649,500 shares, representing approximately 85.95% of the company's equity[58] Compliance and Governance - The company has adhered to all corporate governance codes as per GEM listing rules without any deviations as of June 30, 2024[64] - The company has implemented a code of conduct for directors regarding securities trading, compliant with GEM listing rules[65] - The audit committee has reviewed the unaudited condensed consolidated financial information for the six months ending June 30, 2024, and found it compliant with applicable accounting standards and GEM listing rules[68]
雅居投资控股(08426) - 2024 - 中期业绩