Revenue and Financial Performance - Revenue for the six months ended June 30, 2024, amounted to approximately HK$20.7 million, a decrease from HK$42.5 million in the same period of 2023[2][4] - The Group recorded an unaudited revenue of approximately HK$20.7 million for the six months ended June 30, 2024, representing a decrease of approximately 51.3% compared to HK$42.5 million for the same period in 2023[71] - Revenue from the manufacturing and trading of threads decreased to approximately HK$4.1 million, down approximately 69.3% from HK$13.4 million in the same period last year, primarily due to reduced sales in overseas markets[76] - Revenue from the interior design and decoration segment slightly increased to approximately HK$10.5 million, representing an increase of approximately 1.5% compared to HK$10.3 million in the same period last year[78] - The equine services segment generated revenue of approximately HK$4.6 million, a decrease of approximately 75.3% from HK$18.8 million in the same period last year[74] - The loss attributable to the owners of the parent decreased to approximately HK$13.5 million for the six months ended June 30, 2024, down from approximately HK$16.5 million for the same period in 2023, representing a decrease of approximately 18.4%[71] Loss and Expenses - Loss after taxation for the six months ended June 30, 2024, was approximately HK$13.5 million, compared to a loss of HK$16.5 million in the same period of 2023[2][4] - Basic and diluted loss per share for the six months ended June 30, 2024, was approximately HK3.30 cents, an improvement from HK4.04 cents in the same period of 2023[2][4] - Total comprehensive loss for the period was HK$15.1 million, compared to HK$20.0 million in the same period of 2023[5] - The Group recorded a loss before income tax of approximately HK$13.5 million for the six months ended 30 June 2024, a decrease of approximately 18.4% from approximately HK$16.5 million for the corresponding period in the preceding year[97] - Selling and distribution expenses decreased to approximately HK$1.1 million for the six months ended 30 June 2024, down from approximately HK$1.9 million for the same period in 2023, representing a decrease of approximately 41.1%[95] - Administrative expenses decreased to approximately HK$7.3 million for the six months ended 30 June 2024, down from approximately HK$10.4 million for the same period in 2023, representing a decrease of approximately 29.4%[96] Assets and Liabilities - As of June 30, 2024, total assets amounted to HK$39,279,000, a decrease from HK$47,539,000 as of December 31, 2023, representing a decline of approximately 17.4%[7] - Current liabilities decreased to HK$51,811,000 from HK$58,070,000, reflecting a reduction of about 10.5%[8] - The net current liabilities increased to HK$12,532,000 from HK$10,531,000, indicating a worsening of liquidity position[8] - The company's net assets dropped to HK$4,328,000 from HK$19,388,000, a decrease of approximately 77.7%[8] - The reserves showed a significant decline from HK$1,069,000 to HK$(16,129,000), indicating a negative shift in retained earnings[8] Cash Flow and Investment - Cash flows used in operating activities for the first half of 2024 amounted to HK$1,656,000, a significant decrease from HK$4,187,000 in the prior year, indicating improved cash management[15] - The company generated net cash flows from investing activities of HK$7,205,000 in the first half of 2024, compared to a net cash outflow of HK$1,050,000 in the same period of 2023, showing a positive shift in investment performance[16] - Proceeds from the disposal of investment property amounted to HK$3,500,000, while proceeds from the disposal of fixed assets were HK$4,380,000, indicating active asset management strategies[16] - The company reported a net increase in cash and cash equivalents to HK$4,087,000 at the end of the period, up from HK$2,734,000 at the end of June 2023, reflecting improved liquidity[16] Segment Performance - Revenue from external customers in the manufacturing and selling of threads segment was HK$4,125,000, while the interior design and decoration segment generated HK$10,450,000[29] - The equine services segment reported a revenue of HK$4,646,000, and the advisory on securities, corporate finance, and asset management segment contributed HK$1,494,000[29] - The total segment loss before tax for the six months ended June 30, 2024, was HK$13,483,000, compared to a loss of HK$16,520,000 for the same period in 2023[29][31] - The equine services segment experienced a loss of HK$5,961,000, while the advisory segment reported a profit of HK$1,424,000[29] Corporate Governance and Management - The Company has adopted a new Share Option Scheme on February 8, 2023, terminating the previous scheme from November 24, 2017[165] - The Audit Committee consists of two independent non-executive Directors and has reviewed the consolidated results of the Group for the six months ended June 30, 2024[170] - The Company has complied with the code provisions of the CG Code during the Relevant Period, except for a deviation from code provision A.2.1[158] - The Board is committed to regularly reviewing corporate governance practices to meet shareholder expectations[157] Future Outlook and Strategies - The company is focusing on expanding its advisory services in securities and corporate finance to improve profitability[29] - Future strategies include enhancing product offerings and exploring new market opportunities to drive revenue growth[29] - The Group expects the interior design business line to diversify its existing portfolio and increase income sources due to growing popularity in Hong Kong and the Greater Bay Area[68] - The advising on securities, corporate finance, and asset management segment recorded a profit during the six months ended June 30, 2024, with plans to seek more projects to increase income sources[140]
维港育马(08377) - 2024 - 中期财报