Financial Performance - Revenue for the six months ended June 30, 2020, was $18,734,000, a decrease of 48.7% compared to $36,557,000 in the same period of 2019[20][21] - Gross profit for the period was $5,427,000, down 27.3% from $7,480,000 in 2019[24][26] - Loss for the period was $3,352,000, slightly improved from a loss of $3,479,000 in the same period of 2019[49][51] - Total comprehensive loss for the period was $3,472,000, compared to $4,175,000 in 2019, indicating a reduction of 16.8%[74] - Basic and diluted loss per share for the six months ended June 30, 2020, was (0.22) cents, compared to (0.23) cents in 2019[65] - The operating loss before working capital changes for the six months ended June 30, 2020, was US$1,150,000, compared to an operating loss of US$2,520,000 for the same period in 2019, showing a significant reduction of approximately 54.4%[187] - The Company reported cash flows used in operating activities of US$3,296,000 for the six months ended June 30, 2020, compared to US$2,520,000 for the same period in 2019, indicating an increase of approximately 30.7%[187] Assets and Liabilities - Non-current assets increased to $2,781,000 as of June 30, 2020, from $2,018,000 at the end of 2019, reflecting a growth of 37.8%[78] - Current assets decreased to $18,405,000 from $24,427,000, a decline of 24.7%[78] - Total liabilities decreased from $16,042,000 to $13,330,000, a reduction of 16.9%[78] - Net assets decreased to $6,306,000 from $9,778,000, a decline of 35.5%[82] - The Company reported a cash and cash equivalents balance of $10,699,000 as of June 30, 2020, down from $12,723,000 at the end of 2019[78] - Cash and cash equivalents at the end of the period were US$10,699,000, a decrease from US$12,723,000 at the beginning of the period, representing a decline of about 15.9%[187] - As of June 30, 2020, total equity attributable to owners of the Company decreased to US$6,306,000 from US$9,778,000 at the beginning of the year, reflecting a decline of about 35.5%[85] - The accumulated losses increased to US$171,649,000 as of June 30, 2020, from US$168,297,000 at the beginning of the year, indicating an increase of about 1.4%[85] Business Operations - The Company has not reported any new product launches or technological advancements during this period[188] - There were no significant market expansions or acquisitions mentioned in the report[188] - The Company continues to engage in trading and supply chain management services, as well as operating online social platforms[188] - The Group's business comprises two reportable operating segments: trading and supply chain management services, and operation of online social platforms[196] Financial Reporting and Standards - The adoption of revised Hong Kong Financial Reporting Standards has no material impact on the preparation of the Group's condensed consolidated interim financial statements[194] - The condensed consolidated interim financial statements are presented in United States dollars (US$) for the six months ended 30 June 2020[193] - The Group's interim financial statements should be read in conjunction with the annual financial statements for the year ended 31 December 2019[193] - The Group's financial information is prepared in accordance with Hong Kong Accounting Standards and the disclosure requirements of the Listing Rules on the Stock Exchange[193] Segment Reporting - Management monitors the results of the Group's operating segments separately for resource allocation and performance assessment[196] - The Group's performance evaluation is based on reportable segment loss, which is a measure of adjusted loss before tax[196] - Intersegment sales and transfers are transacted with reference to the selling prices used for sales made to third parties at prevailing market prices[197] - The adjusted loss before tax is measured consistently with the Group's loss before tax, excluding bank interest income, interest on bank borrowings, share of loss of a joint venture, and corporate and other unallocated expenses[196] - The Group was incorporated in Bermuda and has been listed on the Stock Exchange of Hong Kong since 10 May 2002[193]
道和环球(00915) - 2020 - 中期财报