Financial Performance - The company's revenue for the six months ending June 30, 2024, was approximately HKD 32.8 million, a decrease of about 47.9% compared to HKD 63 million for the same period in 2023[1] - The loss attributable to equity holders for the six months ending June 30, 2024, was approximately HKD 8.1 million, compared to a loss of HKD 6.5 million for the same period in 2023, representing a 24.6% increase in losses[1] - The basic and diluted loss per share for the six months ending June 30, 2024, was approximately HKD 0.48, compared to HKD 0.39 for the same period in 2023, indicating a 23.1% increase in loss per share[1] - The gross profit for the six months ending June 30, 2024, was HKD 2.4 million, significantly up from HKD 1.1 million for the same period in 2023, reflecting a 112.4% increase[2] - Total comprehensive income for the six months ending June 30, 2024, included other income of HKD 2.5 million, down from HKD 3.1 million in the same period in 2023, a decrease of 17.0%[2] - Administrative expenses for the six months ending June 30, 2024, were HKD 12.9 million, an increase from HKD 10.6 million in the same period in 2023, representing a 21.8% rise[2] - The group reported a total segment loss of HKD 4,626 thousand for the six months ending June 30, 2024, compared to a profit in the previous period[10] - The company reported a loss before tax of HKD 6,464 million, reflecting challenges in operational efficiency[11] - The net loss for the six months ended June 30, 2024, was approximately HKD 8.1 million, compared to approximately HKD 6.5 million for the same period in 2023, resulting in a net loss margin of approximately 24.8%[60] Revenue Breakdown - Revenue from construction and engineering services was HKD 24,642 thousand, down from HKD 58,831 thousand year-on-year, indicating a decline of approximately 58%[9] - The luxury goods sales segment generated HKD 3,486 thousand in revenue, marking the introduction of a new reporting segment for the group[10] - Revenue from property management consulting and leasing services for the six months ended June 30, 2024, was HKD 2,697,000, an increase from HKD 2,280,000 in the same period of 2023, reflecting an 18.3% growth[36] - Revenue from property-related services increased by approximately HKD 0.5 million to approximately HKD 4.7 million for the six months ending June 30, 2024, with rental agency fees contributing approximately HKD 2.7 million[50] - The luxury goods sales segment recorded revenue of approximately HKD 3.5 million, accounting for about 10.6% of the group's total revenue for the six months ending June 30, 2024[51] Assets and Liabilities - The total assets as of June 30, 2024, were approximately HKD 186.7 million, down from HKD 204.5 million as of December 31, 2023, indicating a decrease of 8.7%[4] - The total liabilities as of June 30, 2024, were approximately HKD 22.6 million, compared to HKD 33.1 million as of December 31, 2023, reflecting a decrease of 31.7%[4] - The company's net asset value as of June 30, 2024, was approximately HKD 168.8 million, down from HKD 176.9 million as of December 31, 2023, a decline of 4.6%[4] - The total liabilities for trade payables, retention payables, and accrued expenses amounted to HKD 19,860,000 as of June 30, 2024, down from HKD 27,841,000 as of December 31, 2023[30] Employee and Administrative Costs - Employee costs, including director remuneration, amounted to 13,409,000 HKD for the six months ended June 30, 2024, down from 15,026,000 HKD in 2023, representing a reduction of 10.7%[19] - The total employee cost was approximately HKD 13.4 million, compared to HKD 15 million for the same period ending June 30, 2023, reflecting a decrease of about 10.67%[69] - The company had 58 full-time employees as of June 30, 2024, down from 65 full-time employees as of December 31, 2023, indicating a reduction of approximately 10.77%[69] - Administrative expenses for the six months ended June 30, 2024, were approximately HKD 12.9 million, an increase of about 21.5% compared to approximately HKD 10.6 million for the same period in 2023[57] Dividends and Shareholder Returns - The board has resolved not to declare any interim dividend for the six months ending June 30, 2024, consistent with the previous year[1] - The company did not declare or pay any dividends for the six months ended June 30, 2024, consistent with the same period in 2023[22] - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the same period in 2023[61] Corporate Governance and Compliance - The company has adopted and complied with the corporate governance code as of June 30, 2024, and will regularly review its corporate governance policies[74] - All directors confirmed compliance with the standard rules for securities trading as of June 30, 2024[75] - The company has not issued any stock options since September 21, 2017, under the stock option plan[78] Future Outlook and Strategy - The group aims to diversify its revenue base through the expansion into luxury goods sales, which is expected to provide new income sources[10] - The group plans to continue monitoring market conditions and seek business opportunities in property-related services due to uncertainties in the Hong Kong economic environment[47] - The group aims to balance winning bids with reasonable gross margins while exploring partnerships for civil engineering projects[46] - The group will adopt a cautious approach to inventory management in the luxury goods segment to reduce costs and mitigate business risks[47]
致浩达控股(01707) - 2024 - 中期业绩