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久融控股(02358) - 2019 - 中期财报
JIU RONG HOLDJIU RONG HOLD(HK:02358)2019-09-16 02:48

Financial Performance - Revenue for the six months ended June 30, 2019, was HKD 595,605,000, a significant increase from HKD 172,522,000 in the same period of 2018, representing a growth of 245%[9] - Gross profit for the same period was HKD 60,458,000, compared to HKD 51,622,000 in 2018, reflecting an increase of 17%[9] - The net profit after tax for the period was HKD 28,987,000, up from HKD 14,588,000 in 2018, marking a growth of 98%[9] - The group reported a cumulative loss of HKD (224,423,000) as of June 30, 2019, compared to HKD (295,455,000) in the previous year, indicating a reduction in cumulative losses[20] - The group's profit before tax increased to HKD 33,027,000 for the six months ended June 30, 2019, compared to HKD 20,388,000 in 2018, representing a growth of 62.0%[43] Assets and Liabilities - Total assets as of June 30, 2019, amounted to HKD 1,810,747,000, compared to HKD 1,244,149,000 at the end of 2018, indicating an increase of 45%[13] - The total equity attributable to the owners of the company was HKD 490,327,000, compared to HKD 462,976,000 at the end of 2018, reflecting an increase of 6%[18] - Trade receivables increased to HKD 581,961,000 from HKD 245,530,000, representing a growth of 136%[11] - Trade payables as of June 30, 2019, totaled HKD 759,136,000, up from HKD 326,381,000 as of December 31, 2018, reflecting a growth of 132.5%[57] - Bank loans amounted to HKD 205,369,000 as of June 30, 2019, compared to HKD 184,133,000 at the end of 2018, showing an increase of 11.8%[59] Cash Flow - The net cash outflow from operating activities for the six months ended June 30, 2019, was HKD (138,367,000), significantly higher than HKD (10,465,000) in the previous year[21] - The net cash inflow from financing activities increased to HKD 285,799,000 in the first half of 2019, compared to HKD 26,368,000 in the same period of 2018, indicating a substantial rise in financing activities[21] - The total cash and cash equivalents at the end of the period were HKD 135,157,000, up from HKD 81,498,000 at the end of June 2018, representing an increase of approximately 65.8%[21] Business Segments - Total revenue from external customers reached HKD 595,605,000, with digital video business contributing HKD 302,129,000, and new energy vehicle business contributing HKD 259,020,000[42] - The profit before tax from the digital video business was HKD 7,851,000, while the new energy vehicle business reported a profit of HKD 21,368,000[42] - Revenue from the digital video business increased significantly from HKD 93,098,000 in the previous year to HKD 302,129,000[42] - The new energy vehicle business saw a rise in revenue from HKD 74,641,000 to HKD 259,020,000 year-over-year[42] - The cloud ecosystem big data business recorded revenue of approximately HKD 8,450,000, up 197% from HKD 2,844,000 in the same period last year[83] Investments and Acquisitions - The company completed the acquisition of a 46% stake in Heilongjiang New Oasis Real Estate Development Co., which will operate as an associate company focusing on property development[40] - Approximately HKD 29,748,000 was invested in property, plant, and equipment during the period, primarily for establishing electric vehicle charging stations[54] Governance and Compliance - The company has adopted the standard code for securities trading by directors as per the listing rules, and all directors confirmed compliance during the six-month period ending June 30, 2019[90] - The company adhered to all provisions of the corporate governance code during the reporting period, with ongoing reviews of the current structure by the board[91] - The audit committee reviewed the accounting principles and practices adopted by the group and discussed internal controls and financial reporting matters[92] Dividends and Share Options - The group did not declare any interim dividend for the six months ended June 30, 2019, consistent with the previous year[53] - The company has issued 547,200,000 share options under its share option scheme as of June 30, 2019[68]