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[3]. - The unaudited consolidated loss attributable to owners of the company from continuing and discontinued operations for the six months ended June 30, 2024, was approximately HKD 3,402,000, compared to HKD 4,396,000 for the same period in 2023[3]. - 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[3]. - The gross profit for the six months ended June 30, 2024, was HKD 6,114,000, compared to HKD 1,800,000 for the same period in 2023, indicating a significant increase in profitability[5]. - The total comprehensive loss for the period was HKD 4,098,000, compared to HKD 5,666,000 for the same period in 2023, showing a reduction in overall losses[5]. - The company reported a revenue of HKD 22,541 thousand for the six months ended June 30, 2024, compared to HKD 9,850 thousand for the same period in 2023, representing a significant increase[12]. - The company incurred a loss from continuing operations of HKD (3,402,000) for the six months ended June 30, 2024, compared to a loss of HKD (4,200,000) from discontinued operations[25]. Assets and Liabilities - As of June 30, 2024, the total assets amounted to HKD 24,777,000, down from HKD 31,467,000 as of December 31, 2023[7]. - The total equity attributable to owners of the company decreased to HKD 14,976 thousand as of June 30, 2024, down from HKD 18,382 thousand at the end of 2023[8]. - The company’s total assets decreased to HKD 13,022 thousand as of June 30, 2024, compared to HKD 17,120 thousand at the end of 2023[8]. - 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, indicating a decrease of approximately 51%[28]. - Trade and other 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%[29]. - The company recorded total assets of approximately HKD 25,282,000 as of June 30, 2024, down from HKD 32,626,000 as of December 31, 2023, a decline of around 22%[36]. - The company had no bank borrowings or loans as of June 30, 2024, maintaining a debt-to-asset ratio of zero[36]. Cash Flow - The cash and bank balances as of June 30, 2024, were HKD 17,225,000, slightly decreased from HKD 17,996,000 as of December 31, 2023[7]. - The company’s cash and cash equivalents at the end of the period were HKD 17,225 thousand, a decrease from HKD 20,516 thousand in the previous year[10]. - The net cash generated from operating activities was HKD 170 thousand, a recovery from a net cash used of HKD 7,646 thousand in the previous year[10]. - The net cash used in investing activities was HKD 704 thousand, compared to a net cash generated of HKD 192 thousand in the previous year[10]. Business Operations - The company has terminated its lottery business and is focusing on its smart retail business, which provides digital transformation solutions[13]. - The company is focusing on expanding its smart retail services, which include cloud services and integrated software solutions for retail businesses[13]. - The core business driving future growth includes cloud services and system development, with an expected increase in demand for cloud services due to the proliferation of generative AI technologies[43]. - The company will continue to monitor operational performance in both domestic and overseas markets and adjust its business strategies accordingly[43]. - The group will focus on cost-saving measures and explore opportunities in flexible supply chains and new retail sectors[43]. Employee and Governance - The total number of employees decreased to 12 as of June 30, 2024, down from 21 as of December 31, 2023[42]. - The company reported a significant increase in employee benefits expenses, totaling HKD 1,753,000 for the six months ended June 30, 2024, compared to HKD 5,091,000 in the previous year[20]. - As of June 30, 2024, the total employee cost, including directors' remuneration, was approximately HKD 2.7 million, a decrease from approximately HKD 6.5 million for the six months ended June 30, 2023[42]. - The company has complied with all provisions of the corporate governance code as per GEM Listing Rules Appendix C1, except for the separation of roles between the Chairman and CEO, which is currently held by the same individual[49]. Shareholder Information - As of June 30, 2024, the company held 301,222,736 shares in affiliated corporations, representing approximately 22.18% of the issued shares[44]. - Major shareholders include 51 Credit Card, which holds 1,834,963,213 shares, accounting for 39.16% of the issued shares[46]. Audit and Compliance - The board confirmed that the information provided in the report is accurate and complete, with no misleading or fraudulent elements[2]. - The audit committee has reviewed the unaudited consolidated results for the six months ended June 30, 2024, and confirmed that the financial statements comply with applicable accounting standards and GEM Listing Rules[52]. - The company has no significant unrecognized deferred tax liabilities as of June 30, 2024[19]. - There have been no purchases, sales, or redemptions of the company's listed securities by the company or any of its subsidiaries during the six months ended June 30, 2024[54].
中彩网通控股(08071) - 2024 - 中期财报