Financial Performance - For the six months ended June 30, 2024, the group's revenue was approximately HKD 39.8 million, an increase of about 5.6% compared to HKD 37.7 million for the same period in 2023[6] - The gross profit margin for the six months ended June 30, 2024, was approximately 9.9%, compared to 3.7% for the same period in 2023[6] - The group recorded a period loss of approximately HKD 0.1 million for the six months ended June 30, 2024, significantly improved from a loss of HKD 5.5 million in the same period of 2023[6] - Basic loss per share for the six months ended June 30, 2024, was approximately HKD 0.05, compared to HKD 1.89 for the same period in 2023[6] - The company incurred a total comprehensive expense of HKD 8,708,000 during the period, which included a loss of HKD 5,451,000[9] - The company reported a loss before tax of HKD 56,000 for the period, indicating a challenging operational environment[17] - The company reported a pre-tax loss of HKD 5,443,000 for the six months ended June 30, 2024, compared to a loss of HKD 5,451,000 in the same period of 2023[27] Assets and Liabilities - Non-current assets as of June 30, 2024, amounted to approximately HKD 39.8 million, slightly decreased from HKD 40.4 million as of December 31, 2023[8] - Current assets totaled approximately HKD 73.4 million as of June 30, 2024, compared to HKD 73.7 million as of December 31, 2023[8] - Current liabilities increased to approximately HKD 36.6 million as of June 30, 2024, from HKD 30.9 million as of December 31, 2023[8] - Total equity as of June 30, 2024, was approximately HKD 75.0 million, a decrease from HKD 76.6 million as of December 31, 2023[8] - The company’s total equity decreased from HKD 101,122,000 as of January 1, 2023, to HKD 82,334,000 as of June 30, 2023, reflecting a decline of 18.6%[9] - The total trade receivables as of June 30, 2024, were HKD 28,008,000, an increase from HKD 26,389,000 as of December 31, 2023[30] - The total liabilities for trade payables increased to HKD 18,470,000 as of June 30, 2024, from HKD 18,127,000 as of December 31, 2023[31] - Total assets as of June 30, 2024, were approximately HKD 111.6 million, up from HKD 107.6 million as of December 31, 2023[48] Cash Flow - For the six months ended June 30, 2024, the company reported a net cash inflow from operating activities of HKD 1,861,000, a decrease of 57.8% compared to HKD 4,428,000 for the same period in 2023[10] - The financing activities generated a net cash inflow of HKD 2,803,000, a significant recovery from a net cash outflow of HKD 16,149,000 in the previous year[10] - The cash and cash equivalents at the end of the period stood at HKD 23,027,000, down from HKD 25,081,000 at the end of the previous year[10] Dividends - The board of directors did not recommend the payment of any dividend for the six months ended June 30, 2024, consistent with the previous year[6] - The company declared a dividend of HKD 10,080,000 during the period, reflecting its commitment to returning value to shareholders despite operational losses[9] - The company did not declare or pay any dividends during the reported periods[26] - The company did not declare any dividends for the six months ended June 30, 2024, consistent with the previous period[47] Operational Focus - The company continues to focus on improving operational efficiency and exploring new market opportunities to drive future growth[7] - The company continues to focus on the manufacturing and trading of aluminum electrolytic capacitors and electronic components, with plans for market expansion and product development[15] - The company's operating costs are expected to remain high, prompting management to consider diversifying procurement routes and relocating manufacturing activities to lower-cost regions[37] Corporate Governance - The board is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[63] - The company has adhered to the corporate governance code as per GEM listing rules, with the exception of the separation of roles between the Chairman and CEO, which is currently held by Mr. Wen[64] - The company has established an audit committee consisting of three independent non-executive directors to oversee internal audit functions and financial reporting processes[68] Shareholder Information - Major shareholder Vertical Investment held 180,000,000 shares, representing 62.50% of the company[61] - Sun Koon Kwan, a major shareholder, held 187,870,000 shares, representing 65.23% of the company[61] - Mr. Wen holds a 65.33% equity interest in the company as of the report date, ensuring his continued role as the largest shareholder and Chairman[67] Employment and Compensation - As of June 30, 2024, the group had 134 full-time employees, with total compensation of approximately HKD 9.5 million, compared to HKD 9.1 million for the same period in 2023[53] Foreign Exchange and Risks - The group has no foreign exchange hedging policy but closely monitors foreign exchange risks[55] - The group’s assets in foreign currencies as of June 30, 2024, included HKD 875,000, JPY 1,414,000, USD 14,002,000, and RMB 3,000[55] Other Information - There were no significant events occurring after June 30, 2024, up to the report date[57] - The group reported no significant contingent liabilities as of June 30, 2024, and December 31, 2023[52] - The group had no major investments as of June 30, 2024, remaining at zero since December 31, 2023[56]
数盟资本(08375) - 2024 - 中期财报