Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 482,699,000, a decrease of 25.6% compared to HKD 648,431,000 for the same period in 2023[2] - Profit attributable to owners of the company for the six months ended June 30, 2024, was HKD 803,000, down 92.1% from HKD 10,117,000 in the previous year[2] - Basic earnings per share for the six months ended June 30, 2024, was HKD 0.08, a decline of 94.8% from HKD 1.55 in the same period of 2023[2] - Gross profit for the six months ended June 30, 2024, was HKD 14,882,000, compared to HKD 31,728,000 for the same period in 2023, reflecting a significant decrease[3] - The company recorded sales revenue of HKD 482,699,000 for the six months ended June 30, 2024, a decrease of 25.6% compared to HKD 648,431,000 for the same period in 2023[26] - Gross profit for the six months ended June 30, 2024, was HKD 14,882,000, down 53.1% from HKD 31,728,000 in the same period of 2023, with a gross margin decrease from 4.89% to 3.08%[27] - The net profit attributable to shareholders for the six months ended June 30, 2024, was HKD 803,000, a significant decline from HKD 10,117,000 in the same period of 2023[14] Revenue Breakdown - Revenue from the China market was HKD 283,658,000 for the six months ended June 30, 2024, down from HKD 366,911,000 in the same period of 2023[8] - Revenue from Hong Kong decreased to HKD 163,412,000 for the six months ended June 30, 2024, from HKD 254,582,000 in the previous year[8] - There were no customers contributing over 10% to the group's revenue for the six months ended June 30, 2024[8] Cash and Assets - The company reported a net cash position of HKD 21,418,000 as of June 30, 2024, down from HKD 47,191,000 at the end of 2023[4] - Total assets less current liabilities amounted to HKD 71,503,000 as of June 30, 2024, compared to HKD 69,282,000 at the end of 2023[4] - The group's bank balance and cash as of June 30, 2024, was HKD 21,418,000, down from HKD 47,191,000 on December 31, 2023, while bank borrowings increased to HKD 154,157,000 from HKD 117,518,000[30] - The net debt-to-equity ratio as of June 30, 2024, was 185.6%, up from 101.5% on December 31, 2023, with net debt amounting to approximately HKD 132,739,000[31] Operational Metrics - Trade receivables increased to HKD 132,025,000 as of June 30, 2024, compared to HKD 104,050,000 as of December 31, 2023[16] - Trade payables decreased to HKD 98,159,000 as of June 30, 2024, from HKD 114,666,000 as of December 31, 2023[18] - The average accounts receivable turnover days increased to 45 days for the period, compared to 33 days in 2023[30] - The total number of employees as of June 30, 2024, was approximately 60, down from 70 on December 31, 2023[38] Cost Management - The company reported a total employee cost of HKD 3,179,000 for the six months ended June 30, 2024, down from HKD 4,075,000 in the same period of 2023[13] - The group's operating costs for the six months ended June 30, 2024, were HKD 12,285,000, a decrease of 30.6% compared to HKD 17,709,000 for the same period in 2023[28] Dividends and Shareholder Returns - The company did not declare or pay any dividends for the fiscal year ended December 31, 2023[12] - The company did not recommend an interim dividend for the six months ended June 30, 2024, consistent with the same period in 2023[23] Future Outlook and Strategy - The company plans to launch various microcontroller unit (MCU) IC solutions targeting the new energy vehicle sector, supported by national policies[25] - The company will benefit from the development of AI tablets in the second half of the year, promoting IC and panel solutions to Chinese brand manufacturers[25] Governance and Compliance - The company has adopted the GEM Listing Rules as its own code of conduct for securities trading by directors, confirming compliance by all directors for the six months ending June 30, 2024[47] - The audit committee has reviewed the accounting principles, internal controls, risk management, and the unaudited consolidated financial statements for the six months ending June 30, 2024[46] - The group had no significant contingent liabilities as of June 30, 2024[33] - The group had no major investments or acquisitions during the six months ended June 30, 2024[37] Acknowledgments - The board expresses gratitude to all employees, shareholders, customers, suppliers, and business partners for their ongoing support and contributions[48]
扬宇科技(08113) - 2024 - 中期业绩