Financial Performance - Revenue for the six months ended June 30, 2024, increased by approximately 1.5% to about $19,539,000 compared to $19,257,000 for the same period in 2023[2] - Gross profit decreased from $7,309,000 to $6,963,000, reflecting a decline in profitability[2] - The net profit attributable to the company's owners dropped significantly from $601,000 to $24,000, indicating a near break-even situation[2] - The company reported a decrease in other income from $726,000 to $270,000, impacting overall financial performance[2] - The adjusted profit before tax for the group was $74 thousand, compared to $653 thousand for the same period in 2023, indicating a significant decrease[10][11] - The group reported a net profit of $24 thousand for the six months ended June 30, 2024, a decrease from $601 thousand for the same period in 2023[11] - The group recorded a net loss of approximately $600,000 for the period ending June 30, 2023, down from a profit in the previous year[27] Dividends and Shareholder Returns - The company did not declare any interim dividend for the six months ended June 30, 2024[1] - The group did not declare any interim dividends for the six months ending June 30, 2024, consistent with the previous year[19] - No interim dividend was declared for the six months ending June 30, 2024[42] Assets and Liabilities - Total current assets as of June 30, 2024, were $27,106,000, slightly down from $27,284,000 as of December 31, 2023[4] - Current liabilities decreased from $15,155,000 to $14,736,000, improving the company's liquidity position[4] - Non-current assets totaled $1,614,000 as of June 30, 2024, down from $2,132,000 at the end of 2023[4] - The group reported a total asset value of $28,720 thousand as of June 30, 2024, down from $29,416 thousand as of December 31, 2023[12] - The total liabilities amounted to $15,377 thousand as of June 30, 2024, compared to $16,087 thousand at the end of 2023[12] - The company’s total equity remained stable at $13,343,000 compared to $13,329,000 at the end of 2023[5] Revenue Breakdown - For the six months ended June 30, 2024, the total revenue from external customers was $19,539 thousand, a 1.5% increase from $19,257 thousand for the same period in 2023[10] - The segment profit for the Trade and Supply Chain Management Services was $129 thousand, while the Online Social Platform segment reported a profit of $226 thousand, totaling $355 thousand for the group[10] - The group recognized $8,130 thousand in revenue from Internet Value-Added Services for the six months ended June 30, 2024, down from $9,878 thousand in the previous year[13] - Revenue from trade and supply chain management services increased by approximately 4.5% to about $8,500,000, up from around $8,200,000 last year[27] - Revenue from gamified social and online entertainment decreased by approximately 17.7% to about $8,100,000[32] - The merchandise sales increased significantly by approximately 136.6% to about $2,900,000 due to the launch of a new series of blind boxes[33] - Revenue from trade and supply chain management services was approximately $8,500,000, representing about 43.7% of total group revenue[31] Operational Efficiency and Cost Management - Operating expenses for the period were approximately $7,200,000, a decrease of about 3.0% from around $7,400,000 in the same period last year[27] - The group incurred a total of $472 thousand in unallocated corporate expenses for the six months ended June 30, 2024[10] - The group will continue to strictly control costs and improve productivity and operational efficiency[39] Market Conditions and Future Outlook - The market conditions for trade and supply chain management services remain uncertain, with ongoing inflation and geopolitical tensions impacting global economic stability[38] - Despite a rebound in online social platform business after the easing of COVID-19 restrictions in China, domestic demand remains weak, influenced by a sluggish real estate market and trade tensions, which continue to dampen business confidence and economic growth[39] - The business environment is expected to remain challenging and uncertain in the short term, prompting the group to closely monitor global economic developments and adjust strategies and measures accordingly[39] Investments and Capital Expenditures - Capital expenditures for the group were $41 thousand for the six months ended June 30, 2024, compared to $290 thousand for the same period in 2023[10][11] - There were no significant investments, major acquisitions, or sales during the six months ending June 30, 2024[40] - The group has no plans for any significant future investments or capital assets as of the announcement date[41] - The company and its subsidiaries did not buy, sell, or redeem any listed securities during the six months ending June 30, 2024[43] Cash and Liquidity - As of June 30, 2024, the group had cash and cash equivalents of approximately $18,900,000, down from $20,100,000 as of December 31, 2023[34] - The group maintained a current ratio of approximately 1.8 and a debt-to-asset ratio of zero as of June 30, 2024[34] Audit and Compliance - The audit committee reviewed the accounting policies adopted by the group, including the unaudited condensed consolidated interim financial information for the six months ending June 30, 2024[44]
道和环球(00915) - 2024 - 中期业绩