Financial Performance - For the six months ended June 30, 2024, the Group reported revenue of HK$38,072,000, an increase of 11.8% compared to HK$34,270,000 in the same period of 2023[7]. - The Group incurred a loss before tax of HK$23,712,000, compared to a profit before tax of HK$46,664,000 in the corresponding period of 2023[7]. - The loss for the period was HK$23,712,000, contrasting with a profit of HK$46,664,000 in the same period last year[7]. - For the six months ended June 30, 2024, the company reported a total comprehensive loss of HK$25,582, compared to a profit of HK$75,260 for the same period in 2023, representing a significant decline[8]. - The loss attributable to shareholders for the period was HK$23,672, a decrease from a profit of HK$46,743 in the prior year, indicating a year-over-year decline of approximately 150%[8]. - Basic and diluted loss per share was HK$0.46, compared to earnings of HK$0.87 per share in the previous year, reflecting a substantial decrease in profitability[8]. Expenses and Costs - Administrative expenses decreased to HK$41,342,000 from HK$45,905,000, reflecting a reduction of approximately 10%[7]. - The Group's finance costs decreased to HK$3,157,000 from HK$3,933,000, indicating a reduction of about 19.7%[7]. - Other income and gains amounted to HK$2,120,000, down from HK$2,946,000 in the previous year[7]. - The profit before tax for the period was impacted by an impairment loss on contract assets and accounts receivable amounting to HK$6,408,000, compared to HK$5,796,000 in 2023[27]. Assets and Liabilities - Total current assets decreased to HK$136,856 from HK$144,750 as of December 31, 2023, marking a decline of approximately 5.7%[9]. - Non-current assets totaled HK$291,268, a slight decrease from HK$296,752 at the end of 2023, representing a decline of approximately 1.6%[9]. - Total liabilities increased, with current liabilities rising to HK$86,742 from HK$95,958, a decrease of about 9.6%[10]. - The company reported a decrease in cash and cash equivalents to HK$26,469 from HK$32,507, reflecting a decline of approximately 18.5%[9]. - The accumulated losses as of June 30, 2024, were HK$945,428,000, compared to HK$848,739,000 as of June 30, 2023[11]. Cash Flow - For the six months ended June 30, 2024, the net cash flow from operating activities was HK$6,361,000, compared to a net cash outflow of HK$23,962,000 in the same period of 2023[13]. - The net cash flow used in investing activities was HK$15,298,000 for the six months ended June 30, 2024, a decrease from a net cash inflow of HK$34,669,000 in 2023[13]. - The net cash flow from financing activities was HK$3,832,000 for the six months ended June 30, 2024, compared to a net cash outflow of HK$19,313,000 in 2023[13]. Segment Performance - For the six months ended June 30, 2024, total segment revenue was HK$38,072,000, with hospitality services contributing HK$32,958,000, money lending HK$5,113,000, and network media services HK$1,000[22]. - The segment profit for hospitality services was a loss of HK$1,620,000, while money lending generated a profit of HK$194,000, and network media services incurred a loss of HK$69,000, resulting in a total segment loss of HK$13,918,000[22]. - Revenue from contracts with customers in hospitality and related services was HK$13,525,000, up from HK$13,308,000, reflecting a growth of 1.6%[25]. - Loan interest income significantly increased to HK$5,113,000, compared to HK$2,665,000 in the previous year, marking a growth of 92.5%[25]. Investments - The Group's financial assets at fair value through profit or loss (FVTPL) totaled HK$55,659,000 as of June 30, 2024, compared to HK$61,697,000 as of December 31, 2023, indicating a decline of about 9.8%[40]. - The Group's investment portfolio mainly comprised securities issued by listed companies, with a fair value loss on financial assets at FVTOCI of approximately HK$503,000 for the six months ended June 30, 2024, compared to a fair value gain of approximately HK$28,466,000 in 2023[79]. - The Group holds a 3.32% equity interest in World Biotech, with an investment cost of HK$28,697,000[80]. - The investment in Luck Key Investment Limited represents approximately 48.33% equity interest, with a carrying amount of approximately HK$60,740,000 as of June 30, 2024, accounting for about 14.2% of the Group's total assets[84]. Legal Proceedings - The Group was involved in legal proceedings related to claims against its subsidiary, Ever Robust, with a loan amount of HK$129,000,000 and a margin loan of HK$67,574,473 being contested[101]. - The Group has not made any provisions for the legal proceedings as it is unable to reliably assess the amount of potential liabilities[109]. - The Group's legal proceedings include claims related to share placements and potential damages for dilution of shareholding[106]. Corporate Governance - The Audit Committee consists of three independent non-executive Directors, ensuring compliance with GEM Listing Rules and corporate governance standards[135]. - The Company is committed to good corporate governance practices, enhancing transparency and quality of disclosure[135]. - The Company has complied with the Corporate Governance Code provisions during the review period[134].
恒泰裕集团(08081) - 2024 - 中期业绩