Financial Performance - The Group recorded an unaudited revenue of approximately HK$187.68 million for the six months ended 30 June 2024, representing an increase of approximately 14.82% over the same period in 2023[12]. - The unaudited profit for the period was approximately HK$9.15 million, a decrease of approximately 20.85% compared to HK$11.56 million for the same period in 2023[12]. - Basic earnings per share for the six months ended 30 June 2024 was approximately HK1.14 cents, down from HK1.44 cents for the same period in 2023[12]. - For the six months ended June 30, 2024, the Group reported a profit of HK$9,146,000, a decrease of 21% compared to HK$11,558,000 in the same period of 2023[14]. - Total comprehensive income for the Period was HK$9,672,000, down from HK$11,058,000 in 2023, reflecting a decline of approximately 12.5%[14]. - Operating profit decreased to HK$8,520,000, down 30% from HK$12,196,000 in 2023[13]. - Profit for the period decreased from approximately HK$11.56 million for the six months ended June 30, 2023 to approximately HK$9.15 million for the six months ended June 30, 2024, representing a decrease of approximately 20.85%[91]. Dividends - The Board of Directors declared an interim dividend of HK1.4 cents per share for the six months ended 30 June 2024, compared to HK0.75 cent per share for the same period in 2023[12]. - The interim dividend declared for the six months ended June 30, 2024, is HK1.4 cents per ordinary share, up from HK0.75 cents per ordinary share for the same period in 2023, representing an increase of 86.67%[55]. - The Company declared an interim dividend of HK$1.4 cents per ordinary share for the six months ended June 30, 2024, compared to HK$0.75 cents per share in 2023[137]. - The interim dividend is payable on or before September 30, 2024, to shareholders recorded on the register as of September 10, 2024[138]. Assets and Liabilities - The Group's total assets as of June 30, 2024, amounted to HK$218,160,000, an increase from HK$209,529,000 at the end of 2023[15]. - Current liabilities rose to HK$56,194,000, compared to HK$51,750,000 in the previous year, indicating an increase of 8.5%[17]. - The Group's cash and cash equivalents decreased to HK$10,650,000 from HK$11,556,000, a decline of 7.8%[15]. - As of June 30, 2024, trade receivables up to 30 days amounted to HK$32,924,000, slightly down from HK$33,089,000 as of December 31, 2023[67]. - The Group's lease liabilities as of June 30, 2024, totaled HK$1,827,000, a decrease from HK$2,272,000 as of December 31, 2023, indicating a reduction of approximately 19.6%[61]. - The Group had current assets of approximately HK$208.82 million as at 30 June 2024, an increase from approximately HK$200.75 million as at 31 December 2023[94]. Employee Expenses - Employee benefits expenses increased to HK$167,145,000, up from HK$147,411,000, representing a rise of 13.4%[13]. - Employee benefits expenses totaled HK$167,145,000 for the six months ended June 30, 2024, up from HK$147,411,000 in 2023, reflecting an increase of 13.4%[47]. - As of June 30, 2024, the Group had a total of 1,613 employees, with employee benefits expenses amounting to approximately HK$167.15 million, an increase from approximately HK$147.41 million for the same period in 2023, representing a growth of about 13.1%[102]. Cash Flow - Cash generated from operating activities was HK$24,197,000, slightly lower than HK$24,275,000 in the prior year, reflecting a decrease of 0.3%[20]. - The company experienced a net cash outflow from investing activities of HK$19,602,000, contrasting with a net inflow of HK$20,240,000 in the same period last year[20]. - Cash and cash equivalents at the end of the period stood at HK$10,650,000, down from HK$52,930,000 at the end of June 2023, representing a significant decrease of approximately 79.9%[20]. - As at 30 June 2024, the Group's cash and cash equivalents amounted to approximately HK$10.65 million, down from approximately HK$11.56 million as at 31 December 2023[92]. Financial Management - The Group's financial income net of expenses increased to HK$1,812,000 from HK$1,003,000, marking an increase of 80.7%[13]. - The Group's liquidity risk showed no material change in the contractual undiscounted cash outflow for financial liabilities compared to year-end[35]. - The fair value of financial assets and liabilities measured at amortized cost approximates their carrying amounts, including cash and cash equivalents, trade receivables, and borrowings[36]. - The Group does not use financial derivatives to hedge its financial risk exposures, focusing instead on minimizing potential adverse effects on financial performance[34]. - The Group's overall risk management program addresses various financial risks, including credit risk, interest rate risk, foreign exchange risk, and liquidity risk[33]. Business Operations - The company continues to focus on property management services, primarily in public housing in Hong Kong, with no new segments reported[23]. - Property management services income for the six months ended June 30, 2024, was HK$187,681,000, an increase of 14.8% from HK$163,462,000 in 2023[39]. - The Group is optimistic about the future growth of public housing property management services, anticipating expansion in line with the government's plan to build approximately 360,000 public housing units over the next 10 years[105]. - The introduction of digital twin technology and robotics is expected to enhance service quality and operational efficiency in property management, aligning with the Group's commitment to sustainable practices[104]. - The Group aims to establish new benchmarks in estate management, security, and environmental stewardship, reflecting its forward-thinking approach[104]. Corporate Governance - The Company complied with all code provisions set out in the Corporate Governance Code during the reporting period, with no deviations noted[135]. - The Audit Committee, comprising independent non-executive Directors, oversees the financial reporting process and internal control procedures[142]. - The Audit Committee has reviewed the unaudited condensed consolidated financial information for the six months ended June 30, 2024, confirming compliance with applicable accounting standards and GEM Listing Rules[143]. - The financial report will be available on the GEM website for at least seven days, ensuring transparency and accessibility for stakeholders[144].
雅居投资控股(08426) - 2024 - 中期财报