Financial Performance - For the six months ended June 30, 2020, the revenue of Winto Group was HK$15,989,936, representing an increase of 178.5% compared to HK$5,736,405 for the same period in 2019[11]. - The gross profit for the same period was HK$7,330,093, compared to HK$960,167 in 2019, indicating a significant improvement in profitability[11]. - The profit before taxation for the six months was HK$148,245, a recovery from a loss of HK$16,443,530 in the previous year[11]. - The profit attributable to owners of the Company from continuing operations was HK$863,836, compared to a loss of HK$9,993,992 in the same period of 2019[13]. - The basic and diluted earnings per share for the three months ended June 30, 2020, was HK$0.20, a turnaround from a loss of HK$2.24 per share in the previous year[15]. - The total comprehensive income for the period was HK$1,121,718, a significant recovery from a loss of HK$9,664,059 in 2019[15]. - The Company reported a profit for the period of HK$123,788 for the six months ended June 30, 2020, compared to a loss of HK$15,624,357 in the same period of 2019[22]. - Total revenue increased approximately HK$10,254,000 from approximately HK$5,736,000 for the six months ended June 30, 2019, to approximately HK$15,990,000 for the six months ended June 30, 2020[76]. - Total revenue increased from approximately HK$5,736,000 for the six months ended June 30, 2019, to approximately HK$15,990,000 for the six months ended June 30, 2020, representing an increase of about 176%[79]. Cost Management - Operating expenses decreased to HK$6,911,797 for the six months ended June 30, 2020, down from HK$11,868,333 in 2019, reflecting improved cost management[11]. - The total comprehensive expenses for the period ended June 30, 2020, amounted to HK$15,707,889, compared to HK$16,329,750 in the same period of 2019[22]. - Cost of sales rose from approximately HK$4,776,000 for the six months ended June 30, 2019, to approximately HK$8,660,000 for the six months ended June 30, 2020, reflecting the increase in revenue[77]. - Operating expenses decreased by approximately 42% from approximately HK$11,868,000 for the six months ended June 30, 2019, to approximately HK$6,912,000 for the six months ended June 30, 2020[82]. Asset and Liability Management - As of June 30, 2020, non-current assets decreased to HK$2,881,205 from HK$3,179,302 as of December 31, 2019, representing a decline of approximately 9.36%[17]. - Current assets increased significantly to HK$24,246,641 from HK$13,376,508, marking an increase of approximately 81.25%[17]. - Current liabilities rose to HK$25,878,026 from HK$18,454,235, reflecting an increase of about 40.24%[17]. - The net current liabilities improved to HK$1,631,385 from HK$5,077,727, indicating a reduction of approximately 67.80%[20]. - The total capital deficiency attributable to owners of the Company was HK$12,407,940 as of June 30, 2020, compared to HK$12,284,152 at the end of 2019[20]. - The current ratio improved to approximately 0.9 times as of June 30, 2020, compared to approximately 0.7 times at December 31, 2019[90]. - The gearing ratio was -170% as of June 30, 2020, slightly up from -168% at December 31, 2019[91]. Cash Flow and Financing - Net cash from operating activities for the six months ended June 30, 2020, was HK$1,984,645, a significant improvement from a net cash outflow of HK$8,650,310 in the same period of 2019[24]. - The Company received HK$3,000,000 from shareholder loans during the financing activities in the first half of 2020[24]. - The net increase in cash and cash equivalents for the six months ended 30 June 2020 was HK$1,271,599, compared to a decrease of HK$10,320,428 in the same period of 2019[25]. - Cash and cash equivalents at 30 June 2020 amounted to HK$4,875,072, a significant increase from HK$(2,528,090) at the end of June 2019[25]. Business Operations - Revenue from publications and media advertising income for the six months ended 30 June 2020 was HK$8,750,736, a substantial increase from HK$129,970 in the same period of 2019[39]. - Revenue from the provision of exhibition and trade show services was HK$7,239,200 for the six months ended 30 June 2020, compared to HK$5,606,435 in the same period of 2019[39]. - The Group's business primarily involves sales and distribution of publications and organizing exhibitions and shows for product promotion[73]. - The Group will continue to monitor market conditions and implement its development plan to improve financial performance amid the uncertainties caused by the coronavirus outbreak[75]. Corporate Governance - The Company confirmed that the financial information presented is accurate and complete in all material respects, ensuring transparency for investors[3]. - The company is committed to high standards of corporate governance and has complied with the Corporate Governance Code, except for Code Provision A.2.1[138]. - The company currently has no CEO, with decisions made by the executive Director and overseen by the Board[139]. - The company will continue to review its corporate governance practices to enhance standards and meet regulatory requirements[140]. - The Audit Committee has been established in accordance with GEM Listing Rules, comprising independent non-executive Directors[144]. - The interim report includes unaudited condensed consolidated financial results for the six months ended June 30, 2020[145]. - The financial results for the six months ended June 30, 2020 have not been audited by the Company's auditor[147].
惠陶集团(08238) - 2020 - 中期财报