Financial Performance - The group recorded a revenue of HKD 1.009 billion for the six months ended June 30, 2024, compared to HKD 1.426 billion for the same period in 2023, representing a decrease of approximately 29.3%[2] - The profit attributable to ordinary shareholders was approximately HKD 11 million, a significant improvement from a loss of HKD 41 million in the same period last year[2] - Revenue for the six months ending June 30, 2024, was HKD 1,009,389,000, a decrease of 29.2% from HKD 1,425,958,000 in 2023[12] - Gross profit for the same period was HKD 31,093,000, compared to a gross loss of HKD 1,851,000 in 2023[12] - The company reported a profit of HKD 10,704,000 for the six months ending June 30, 2024, compared to a loss of HKD 41,422,000 in the previous year[12] - Basic and diluted earnings per share for the period were HKD 0.32, recovering from a loss of HKD 1.23 per share in 2023[12] - The company reported a net profit of HKD 10,704,000 for the six months ended June 30, 2024, compared to a net loss of HKD 41,422,000 in the same period of 2023, indicating a significant turnaround[22][29] - The company incurred a pre-tax loss of HKD 34,898,000 for the six months ended June 30, 2023, while for the same period in 2024, it reported a pre-tax profit of HKD 10,373,000, showing a substantial improvement[22][26] Cash and Assets - As of June 30, 2024, the group had cash on hand of approximately HKD 689 million, down from HKD 747 million as of December 31, 2023[4] - Total assets and net assets were approximately HKD 1.795 billion and HKD 1.243 billion, respectively, as of June 30, 2024, compared to HKD 1.915 billion and HKD 1.283 billion as of December 31, 2023[4] - Cash and cash equivalents as of June 30, 2024, were HKD 369,318,000, a decrease from HKD 568,303,000 at the end of 2023[14] - Total assets less current liabilities as of June 30, 2024, amounted to HKD 1,347,705,000, a decrease from HKD 1,404,403,000 as of December 31, 2023[15] - The company's total equity attributable to ordinary shareholders was HKD 1,242,978,000, down from HKD 1,283,332,000 as of December 31, 2023[16] Liabilities and Contingent Liabilities - The group’s contingent liabilities related to performance guarantees decreased from approximately HKD 332 million as of December 31, 2023, to approximately HKD 324 million as of June 30, 2024[8] - Non-current liabilities decreased to HKD 104,727,000 from HKD 121,071,000 in the previous year[15] - The company’s total liabilities decreased to HKD 1,017,692,000 for the six months ended June 30, 2024, from HKD 1,428,620,000 in the same period of 2023, reflecting a reduction of approximately 29%[21][23] - Total accounts payable amounted to HKD 183,697,000 as of June 30, 2024, down from HKD 220,498,000 as of December 31, 2023, representing a decrease of approximately 16.7%[32] - Warranty payables were reported at HKD 50,851,000 as of June 30, 2024, compared to HKD 56,050,000 as of December 31, 2023, indicating a decline of about 9.3%[32] - Provisions were recorded at HKD 13,609,000 as of June 30, 2024, compared to HKD 17,938,000 as of December 31, 2023, showing a reduction of around 24.8%[32] - The total liabilities, including provisions, amounted to HKD 385,520,000 as of June 30, 2024, down from HKD 435,065,000 as of December 31, 2023, a decrease of approximately 11.4%[32] - Performance guarantees related to construction projects were HKD 324,420,000 as of June 30, 2024, compared to HKD 332,469,000 as of December 31, 2023, a decrease of about 2.4%[34] Employee and Compensation - The group employed approximately 752 employees as of June 30, 2024, with compensation guidelines based on current market salary levels[9] Dividends - The company declared an interim dividend of HKD 0.01 per share for the six months ending June 30, 2024, compared to no dividend for the same period in 2023[10] - The company declared an interim dividend of HKD 0.01 per share for the six months ended June 30, 2024, totaling approximately HKD 33,660,000, compared to no dividend declared in the same period of 2023[27][28] Capital Expenditures - Capital expenditures for the six months ended June 30, 2024, amounted to approximately HKD 20 million for the purchase of machinery and equipment[6] Governance and Compliance - The company has adhered to the corporate governance code as per the listing rules, with a noted absence of two non-executive directors at the annual general meeting[35] - The audit committee, consisting of four independent non-executive directors, has reviewed the interim financial statements for the six months ending June 30, 2024[36] - The company has confirmed compliance with the standard code for securities trading by directors during the review period[37] - There were no purchases, sales, or redemptions of the company's listed securities during the reporting period[38] Other Income and Gains - Interest income increased to HKD 14,380,000 for the six months ended June 30, 2024, compared to HKD 10,625,000 in the same period of 2023, reflecting a growth of about 35%[25] - The total other income and gains for the six months ended June 30, 2024, amounted to HKD 22,683,000, up from HKD 13,287,000 in the same period of 2023, marking an increase of approximately 71%[25]
泰升集团(00687) - 2024 - 中期业绩