Financial Performance - Revenue from financial lending business increased to HKD 116,187,000, up 24.2% from HKD 93,546,000 in the same period last year[2] - Total revenue for the six months ended June 30, 2024, was HKD 116,981,000, compared to HKD 94,851,000 for the same period in 2023, representing a growth of 23.3%[2] - Operating profit for the period was HKD 21,505,000, slightly up from HKD 20,062,000, reflecting a growth of 7.2%[2] - Net profit for the period increased to HKD 14,709,000, compared to HKD 13,608,000 in the previous year, marking a rise of 8.1%[2] - The company reported a basic and diluted earnings per share of HKD 0.55, up from HKD 0.51 in the same period last year, indicating a growth of 7.8%[3] - The net profit attributable to the company's owners for the six months ended June 30, 2024, was HKD 14,709, representing an increase of 8.1% from HKD 13,608 in the same period of 2023[26] - Basic earnings per share for the six months ended June 30, 2024, were HKD 0.55, compared to HKD 0.51 for the same period in 2023[26] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 1,228,706,000, a decrease from HKD 1,264,977,000 as of December 31, 2023[6] - The company reported a total liability of HKD 143,730,000 as of June 30, 2024, down from HKD 184,202,000 as of December 31, 2023[12] - Total liabilities reported as of June 30, 2024, were HKD 143,730, down 22% from HKD 184,202 as of December 31, 2023[15] - Total equity as of June 30, 2024, was HKD 1,084,976,000, slightly up from HKD 1,080,775,000 as of December 31, 2023[6] Segment Performance - The property development and investment segment reported a loss before tax of HKD 2,503,000, while the financial lending segment generated a profit before tax of HKD 28,666,000, resulting in a total profit before tax of HKD 20,382,000[11] - The property development and investment segment generated revenue of HKD 794,000, while the financial lending segment contributed HKD 116,187,000 for the six months ended June 30, 2024[11] - The financial lending segment's assets were HKD 842,010,000, representing 68.6% of total segment assets[12] Impairment and Fair Value - The fair value loss on investment properties was HKD 3,000,000, compared to a gain of HKD 6,000,000 in the previous year[2] - The company incurred a net impairment loss on financial assets of HKD 43,530,000, compared to HKD 40,766,000 in the same period last year[2] - The company reported a net impairment loss on financial assets of HKD 43,530 for the six months ended June 30, 2024, compared to HKD 40,766 for the same period in 2023[22] Cash Flow and Income - Cash and cash equivalents increased to HKD 129,313,000 from HKD 101,057,000, showing a growth of 27.9%[5] - The company reported unallocated expenses of HKD 7,767,000 for the six months ended June 30, 2024[11] - The company’s net other income for the period was HKD 239,000, contributing to the overall financial results[11] - The company recognized a net other income of HKD 2,473 for the six months ended June 30, 2024, compared to HKD 666 for the same period in 2023[19] Customer and Market Insights - The company has not identified any single customer contributing 10% or more to total revenue for the periods reported[14] - The number of active customers for unsecured loans increased from 13,491 on December 31, 2023, to 14,224 on June 30, 2024, generating approximately HKD 95 million in revenue for the six months ending June 30, 2024, compared to HKD 81 million for the same period in 2023[40] Operational Developments - The company applied revised accounting standards effective from January 1, 2024, with no significant impact on financial performance or disclosures[10] - The company has established a system to identify and review overdue loan accounts, with a focus on the overall status of outstanding loans and recovery capabilities[47] - The company anticipates challenges in the Hong Kong economy in the second half of 2024 due to global economic slowdown and inflation, but aims to enhance its financial service platform through the X Wallet and X Pay applications[50] - The company has acquired an IT business to reduce reliance on external vendors and enhance strategic value[50] - The company plans to implement strict loan application requirements and improve risk pricing models to minimize default risks[50] Corporate Governance and Compliance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules during the reporting period[53] - There have been no significant changes or major matters to disclose after the reporting period ending June 30, 2024[52] Miscellaneous - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous period[36] - The group has not sold any residential units in the six months ending June 30, 2024, with 56 units remaining unsold, of which 4 are rented out[39] - The group wrote off approximately HKD 33,695,000 in receivables due to borrower bankruptcy and death during the six months ending June 30, 2024[42] - The group faces foreign exchange risks primarily related to the Renminbi due to its operations in China and Hong Kong[44] - The group has no significant capital expenditure commitments and is funded by loans from a shareholder, capital reserves, and cash generated from operations[44] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the six months ending June 30, 2024[51] - As of June 30, 2024, the company has no new products or services to be launched in the market[48] - The company employs 120 staff members, with compensation policies based on performance, qualifications, and market salary levels[49] - The carrying amount of property, plant, and equipment as of June 30, 2023, was HKD 231,114,000, compared to HKD 228,000,000 for investment properties[28]
TERMBRAY IND(00093) - 2024 - 中期业绩