Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 374,299,000, representing a 9.7% increase from HKD 341,260,000 in the same period of 2023[1] - Gross profit increased to HKD 113,677,000, up 21.1% from HKD 93,864,000 year-on-year[1] - Operating profit rose to HKD 40,994,000, a 19.5% increase compared to HKD 34,459,000 in the previous year[1] - Profit attributable to equity holders for the period was HKD 37,398,000, reflecting a 18.5% increase from HKD 31,646,000 in 2023[2] - Total revenue for the group reached HKD 374,299,000, a 9.7% increase from HKD 341,260,000 in the previous year[10] - Basic earnings per share increased to HKD 37,398,000, compared to HKD 31,646,000 in 2023, representing a growth of 18.0%[16] - Basic earnings per share for the six months ended June 30, 2024, were approximately HKD 2.81, up from HKD 2.38 in the same period of 2023[23] Assets and Equity - Total assets as of June 30, 2024, amounted to HKD 973,121,000, compared to HKD 950,129,000 at the end of 2023[3] - Current assets net amount was HKD 652,071,000, an increase from HKD 620,198,000 in the previous year[4] - Total equity increased to HKD 767,010,000 from HKD 729,781,000 at the end of 2023[4] - As of June 30, 2024, the company's cash and bank balances were approximately HKD 313,300,000, up from HKD 275,200,000 as of December 31, 2023[29] - The total borrowings amounted to approximately HKD 63,000,000, with an asset-to-equity ratio of about 8.2%[30] Financial Income - Financial income for the period was HKD 7,543,000, up from HKD 6,075,000 in the same period last year[1] - The company reported a net financial income of HKD 4,288,000, significantly higher than HKD 2,898,000 in the previous year[1] - Net financial income rose to HKD 4,288,000, up 48.0% from HKD 2,898,000 in the previous year[14] - Financial income increased by approximately 23.0% to HKD 7,500,000 due to rising interest income from bank deposits[26] Revenue Breakdown - Revenue from Hong Kong increased to HKD 351,710,000 for the six months ended June 30, 2024, up 17.5% from HKD 299,280,000 in 2023[10] - Macau revenue decreased to HKD 21,545,000, down 43.6% from HKD 38,167,000 in 2023[10] Challenges and Outlook - The company faced challenges in attracting and retaining skilled labor, as well as rising material costs impacting profit margins[24] - The company maintains a positive outlook for the construction materials business in Hong Kong, driven by significant infrastructure projects[27] Dividends - The company did not declare an interim dividend for the six months ended June 30, 2024[17] - The company did not declare an interim dividend for the six months ended June 30, 2024[35] Compliance and Review - The company has adopted the standard code outlined in Appendix C3 of the listing rules, confirming compliance by all directors for the six-month period ending June 30, 2024[39] - The interim financial data for the six months ending June 30, 2024, has not been audited or reviewed by the company's auditor, but has been reviewed by the audit committee[40] - The mid-term performance announcement is available on the company's website and the Hong Kong Stock Exchange website[42] Product Development - The company successfully launched new products, expanding its product coverage and receiving positive customer feedback[24]
中国管业(00380) - 2024 - 中期业绩