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久融控股(02358) - 2020 - 中期财报
JIU RONG HOLDJIU RONG HOLD(HK:02358)2020-09-17 08:56

Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 226,246,000, a decrease of 7.8% from HKD 245,432,000 in the same period of 2019[8] - Gross profit for the period was HKD 50,404,000, down 16.6% from HKD 60,458,000 year-on-year[8] - Net profit after tax for the period was HKD 21,754,000, a decline of 25.1% compared to HKD 28,987,000 in the previous year[8] - Basic and diluted earnings per share were HKD 0.40, down from HKD 0.53 in the same period last year[8] - For the six months ended June 30, 2020, the total comprehensive income attributable to the company's owners was HKD 27,351, a decrease from HKD 28,987 for the same period in 2019[17] - The total profit before tax for the six months ended June 30, 2020, was HKD 28,688,000, a decrease of 12.5% from HKD 32,646,000 in 2019[32] - Profit attributable to owners for the period was approximately HKD 21,754,000, a decrease of about 24.95% from HKD 28,987,000 in the previous year[62] Assets and Liabilities - Total assets as of June 30, 2020, amounted to HKD 1,107,870,000, an increase from HKD 832,461,000 at the end of 2019[11] - Current liabilities were HKD 1,695,418,000, compared to HKD 1,423,976,000 at the end of 2019, indicating a rise in financial obligations[11] - The company's net asset value increased to HKD 533,970,000 from HKD 519,988,000 at the end of 2019[12] - The total reportable assets amounted to HKD 2,718,640,000, with the new energy vehicle business holding HKD 1,025,541,000[31] - Trade receivables decreased to HKD 270,441,000 from HKD 356,619,000, representing a decline of approximately 24.2%[44] - Trade payables decreased to HKD 185,865,000 from HKD 350,951,000, a reduction of approximately 47.1%[48] - Bank loans increased significantly to HKD 644,611,000 from HKD 196,703,000, reflecting a growth of approximately 227.5%[49] - The total loans, including other loans, amounted to HKD 656,078,000, up from HKD 279,912,000, marking an increase of approximately 134.5%[49] Cash Flow - The net cash outflow from operating activities was HKD 89,648, an improvement compared to HKD 138,367 in the previous year[15] - The net cash inflow from financing activities increased significantly to HKD 399,558, up from HKD 285,799 in 2019[15] - Cash and cash equivalents increased significantly to HKD 419,779,000 from HKD 109,248,000 at the end of 2019, reflecting improved liquidity[11] - The company’s cash and cash equivalents increased to HKD 419,779 at the end of June 2020, compared to HKD 135,157 at the end of June 2019[15] Business Segments - Total revenue from external customers for the digital video business was HKD 99,381,000, while the new energy vehicle business generated HKD 95,171,000[31] - The digital video business saw a decrease in revenue compared to the previous year, which was HKD 129,686,000, while the new energy vehicle business increased from HKD 81,290,000[31] - The company operates 48 electric vehicle charging stations in Hangzhou, with a total of 3,604 AC charging guns and 1,424 DC charging guns, indicating a strong commitment to expanding its new energy vehicle business[72] - The company plans to focus on market expansion and new product development in the upcoming quarters[8] Expenses and Tax - The company incurred a tax expense of HKD 6,934,000 for the period, compared to HKD 3,659,000 in 2019, reflecting an increase of 89.5%[40] - Depreciation expenses for property, plant, and equipment increased to HKD 23,924,000 from HKD 14,276,000, indicating a rise of 67.5%[38] - Financing costs for the six months ended June 30, 2020, were HKD 11,494,000, a decrease of 16.2% from HKD 13,736,000 in 2019[38] Corporate Governance - The company has not adopted any new accounting standards that have been issued but not yet effective, and is currently evaluating their potential impact[19] - The audit committee reviewed the accounting principles and practices adopted by the group and discussed internal controls and financial reporting matters[80] - All directors confirmed compliance with the standard code of conduct for securities trading during the six months ended June 30, 2020[78] - The company adhered to all provisions of the corporate governance code during the reporting period[79] Shareholder Information - The company did not declare any interim dividend for the six months ended June 30, 2020, consistent with the previous year[42] - No interim dividend was recommended for the six months ended June 30, 2020, consistent with the previous year[68] - The company has issued 5,472,000,000 shares with a par value of HKD 0.1, maintaining the same amount as the previous period[51] - The total remuneration paid to directors during the period was approximately HKD 780,000, compared to HKD 755,000 in the previous period, reflecting a slight increase[58]