Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 6,400,000, a significant decrease of 91.6% compared to HKD 76,144,000 for the same period in 2023[2] - Gross profit for the period was HKD 6,400,000, compared to HKD 673,000 in the previous year, indicating a substantial increase in gross margin[2] - Net loss attributable to shareholders for the period was HKD 7,731,000, compared to a profit of HKD 8,330,000 in the same period last year[2] - The basic and diluted loss per share was HKD 1.58, compared to earnings of HKD 1.70 per share in the same period last year[2] - The company reported a pre-tax loss of HKD 6,116,000 for the six months ended June 30, 2024, compared to a pre-tax profit of HKD 8,330,000 for the same period in 2023[11][18] - The company reported a net exchange loss of HKD 10,822,000 from joint ventures, compared to a loss of HKD 18,625,000 in the previous year, showing some improvement[2] - The company recorded a net loss of approximately HKD 7,731,000, compared to a net profit of HKD 8,330,000 in the same period last year[25] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 1,031,025,000, down from HKD 1,090,862,000 as of December 31, 2023[3] - Current liabilities decreased significantly to HKD 207,057,000 from HKD 345,304,000 at the end of 2023, reflecting improved liquidity management[3] - Non-current liabilities remained stable at HKD 184,540,000 compared to HKD 185,271,000 in the previous period[4] - Cash and cash equivalents decreased to HKD 128,619,000 from HKD 180,434,000, indicating a reduction in available liquidity[3] - The total liabilities as of June 30, 2024, were HKD 391,598,000, down from HKD 530,575,000 as of December 31, 2023[12] - The total equity of shareholders decreased to approximately HKD 439,428,000 from HKD 460,287,000 as of December 31, 2023, primarily due to the total comprehensive expenses during the review period[36] Segment Performance - For the six months ended June 30, 2024, the revenue from the mineral products trading segment was HKD 6,400,000, while the exploration and development segment reported no revenue, resulting in a total consolidated revenue of HKD 6,400,000[10] - The mineral products trading segment incurred a loss of HKD 8,282,000, and the exploration and development segment reported a loss of HKD 3,051,000, leading to a total consolidated loss of HKD 11,333,000 for the period[10] - For the six months ended June 30, 2023, the mineral products trading segment generated revenue of HKD 76,144,000, with a loss of HKD 2,203,000, while the exploration and development segment reported a loss of HKD 2,908,000, resulting in a total consolidated loss of HKD 5,111,000[11] Expenses - Administrative expenses increased to HKD 17,659,000 from HKD 10,301,000, highlighting rising operational costs[2] - Financial expenses rose to approximately HKD 13,379,000, an increase of about 108% from HKD 6,429,000 in the same period last year, due to a USD 30,000,000 drawdown for uranium product purchases[29] - The total comprehensive expenses for the review period amounted to approximately HKD 20,859,000, compared to HKD 12,685,000 in the same period last year, reflecting an increase of about 64.3%[30] Cash Flow and Liquidity - The group recorded a net cash outflow of approximately HKD 49,536,000 during the review period, slightly improved from HKD 53,993,000 in the same period last year[35] - As of June 30, 2024, the group's current assets decreased by approximately 25.9% to HKD 423,875,000 from HKD 571,948,000 as of December 31, 2023[35] - The group's non-current assets decreased by approximately 2.8% to HKD 407,150,000 from HKD 418,914,000 as of December 31, 2023[35] Strategic Focus and Agreements - The group aims to focus on uranium product trading and actively seek quality uranium resource projects, particularly in production projects[31] - The group has entered into a framework agreement with China Uranium Corporation to act as the exclusive supplier for uranium products outside Asia and Africa, enhancing its market coverage[32] - The group plans to continue participating in international market tenders and explore various financing channels to support the expansion of its uranium trade[32] - The group has completed the sale of approximately 650,000 pounds of natural uranium products to its parent company and facilitated a transaction of about 400,000 pounds for the Rosin Uranium Mine, expected to generate commission income in the second half of 2024[32] Governance and Compliance - The audit committee has reviewed the unaudited condensed interim financial statements for the six months ending June 30, 2024, and confirmed compliance with applicable accounting standards[41] - The remuneration committee is responsible for reviewing the remuneration policies for directors and senior management[42] - The nomination committee evaluates the board's structure and diversity at least annually[43] - The board includes a mix of executive and independent non-executive directors, ensuring governance compliance[46] Dividends and Shareholder Relations - The company did not declare or pay any dividends during the review period[20] - No interim dividend is recommended for the review period, consistent with the same period in 2023[39] - The board expresses gratitude to shareholders, management, and employees for their support[45]
中核国际(02302) - 2024 - 中期业绩