Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 470,383,000, a decrease of 30.4% compared to HKD 675,542,000 for the same period in 2023[1] - Gross profit for the same period was HKD 25,809,000, up from HKD 22,880,000, reflecting an increase of 12.8%[1] - The company recorded a profit before tax of HKD 5,449,000, down from HKD 6,282,000, representing a decline of 13.3%[1] - Net profit for the period was HKD 4,140,000, compared to HKD 4,726,000 in the previous year, a decrease of 12.4%[1] - Basic and diluted earnings per share for the six months ended June 30, 2024, were both HKD 1.47, down from HKD 1.69 in the same period of 2023, a decline of 13.0%[2] - Revenue decreased by 30% to HKD 470,383,000 due to a weak trading environment for mass-produced products and continued low consumer spending in the local market[19] - Net profit fell by 12% to HKD 4,140,000, impacted by rising labor costs and increased marketing expenses[19] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 205,479,000, slightly down from HKD 212,393,000 as of December 31, 2023[2] - Current liabilities decreased to HKD 57,371,000 from HKD 64,555,000, a reduction of 11.3%[2] - Total liabilities amounted to HKD 60,421,000, with a current ratio of approximately 3.6 as of June 30, 2024[22] - The company held cash and bank deposits of HKD 88,285,000, down from HKD 110,498,000 as of December 31, 2023[22] - The company's net asset value increased to HKD 164,322,000 from HKD 163,316,000, reflecting a growth of 0.6%[2] Accounting and Compliance - The company has applied new accounting standards, which did not have a significant impact on the financial position or performance for the current and prior periods[5] - The audit committee consists of all independent non-executive directors and has reviewed the company's condensed consolidated financial statements for the six months ending June 30, 2024[30] - There were no purchases, sales, or redemptions of the company's listed securities by the company or any subsidiaries during the period ending June 30, 2024[31] - The interim report for the six months ending June 30, 2024, will be sent to shareholders by September 30, 2024, and published on the company's and the stock exchange's websites[32] Employee and Operational Insights - Employee count increased to 51, with total salaries and benefits amounting to HKD 10,886,000, up from HKD 7,537,000 in the previous year[24] - The company has no outstanding bank borrowings and maintains a strong liquidity position[22] - The company is diversifying its product range to better respond to market conditions and emerging opportunities[21] Acknowledgments and Future Outlook - The company expresses gratitude to employees, customers, suppliers, and strategic partners for their unwavering support during challenging times[33] - The company acknowledges the steadfast confidence of shareholders, which inspires the pursuit of excellence and continuous improvement[33] - The company pays tribute to the late former chairman, Lin Jiafeng, for his valuable contributions to the group[33]
新龙移动(01362) - 2024 - 中期业绩