智傲控股(08282) - 2020 - 中期财报

Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 24,158,000, a decrease of 45.4% compared to HKD 44,357,000 for the same period in 2019[7] - Gross profit for the six months ended June 30, 2020, was HKD 4,277,000, down 69.5% from HKD 14,011,000 in 2019[7] - The company reported a loss before tax of HKD 5,815,000 for the six months ended June 30, 2020, compared to a loss of HKD 1,325,000 in the same period of 2019[7] - The company incurred a comprehensive loss of HKD 6,003,000 for the six months ended June 30, 2020, compared to a loss of HKD 1,036,000 in the same period of 2019[7] - The basic and diluted loss per share for the six months ended June 30, 2020, was HKD 0.04, compared to a profit of HKD 0.01 in 2019[7] - Total comprehensive loss for the period ended June 30, 2020, was HKD 6,003,000, compared to a loss of HKD 1,036,000 for the same period in 2019, indicating a significant increase in losses[10] - For the six months ended June 30, 2020, the company reported a net loss of approximately HKD 5.8 million, compared to a net loss of approximately HKD 1.3 million for the same period in 2019[44] Assets and Liabilities - Total assets as of June 30, 2020, were HKD 50,342,000, a decrease from HKD 55,656,000 as of December 31, 2019[8] - Cash and cash equivalents decreased to HKD 38,110,000 as of June 30, 2020, from HKD 44,981,000 at the end of 2019[8] - The company's equity attributable to owners decreased to HKD 39,134,000 as of June 30, 2020, from HKD 45,137,000 at the end of 2019[8] - The company reported a decrease in contract liabilities to HKD 11,125,000 as of June 30, 2020, from HKD 8,535,000 at the end of 2019[8] - Accounts receivable as of June 30, 2020, was HKD 3,955 thousand, an increase from HKD 3,127 thousand in 2019[35] Cash Flow - Net cash used in operating activities for the six months ended June 30, 2020, was HKD 4,446,000, compared to HKD 300,000 in the same period of 2019, reflecting a deterioration in cash flow[13] - The company reported a net cash outflow of HKD 6,683,000 for the six months ended June 30, 2020, compared to HKD 1,624,000 in the previous year[13] - Total cash and cash equivalents decreased to HKD 38,110,000 as of June 30, 2020, down from HKD 44,353,000 at the end of the same period in 2019[13] Revenue Breakdown - Revenue from Hong Kong for the six months ended June 30, 2020, was HKD 21,033,000, down 46.3% from HKD 39,144,000 in 2019[23] - Revenue from Taiwan for the same period was HKD 2,867,000, a decrease of 42.9% from HKD 5,029,000 in 2019[23] - The group's revenue decreased by approximately 45.5% from about HKD 44.4 million for the six months ended June 30, 2019, to about HKD 24.2 million for the six months ended June 30, 2020, primarily due to a decline in gaming operation income from licensed and self-developed games[45] Expenses - The cost of services provided decreased by approximately 34.3% from about HKD 30.3 million for the six months ended June 30, 2019, to about HKD 19.9 million for the same period in 2020, mainly due to reduced channel costs and patent fees[46] - Gross profit fell by approximately 69.3% from about HKD 14.0 million for the six months ended June 30, 2019, to about HKD 4.3 million for the same period in 2020, with a gross margin decline of 13.7 percentage points to 17.8%[47] - The group's selling expenses decreased by approximately 49.4% from about HKD 8.5 million for the six months ended June 30, 2019, to about HKD 4.3 million for the same period in 2020, primarily due to reduced promotional and advertising expenses[49] - Administrative expenses decreased by approximately 14.3% from about HKD 7.0 million for the six months ended June 30, 2019, to about HKD 6.0 million for the same period in 2020, mainly due to a reduction in legal and professional fees[50] Future Plans - The company plans to focus on market expansion and new product development to improve future performance[6] - The company plans to enhance its competitiveness in the mobile gaming market in Hong Kong and Taiwan by introducing more quality licensed games and focusing on mobile gaming[44] Corporate Governance - The financial statements have been prepared in accordance with the new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial position or performance of the company[21] - The company confirmed compliance with the minimum public float requirement of 25%[81] - The company has adopted the GEM Listing Rules for securities trading standards for directors[79] - The company has adhered to all applicable corporate governance codes during the reporting period[80] - The audit committee was established on December 23, 2015, in compliance with GEM listing rules, consisting of three independent non-executive directors[86] - The unaudited consolidated results for the six months ended June 30, 2020, were reviewed by the audit committee and management, confirming compliance with applicable accounting standards and GEM listing rules[86] Shareholder Information - Major shareholder Huang Tiansheng holds 66,787,235 shares, representing 41.74% of the company's equity[70] - Right One Global Limited, co-owned by Shi Renyi and Chen Lizhu, holds 29,004,337 shares, accounting for 18.13% of the company's equity[70] - Nineyou International Limited holds 18,367,182 shares, which is 11.48% of the company's equity[70] Dividends and Acquisitions - The company did not declare or pay any dividends for the six months ended June 30, 2020, consistent with the same period in 2019[31] - The company had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2020[55] - No significant acquisitions or disposals occurred during the six months ending June 30, 2020[77] - The company did not purchase, sell, or redeem any of its listed securities during the six months ending June 30, 2020[76] - There were no outstanding stock options granted, exercised, expired, or lapsed during the six months ending June 30, 2020[84] Events After Reporting Period - There were no significant events affecting the group after the reporting period up to the report date[87] - The interim results announcement and report for the six months ended June 30, 2020, will be sent to shareholders and published on the company’s website[88]