Revenue Performance - For the six months ended June 30, 2024, total revenue was HKD 26,061,000, a decrease of 68.1% compared to HKD 81,577,000 for the same period in 2023[1] - Total revenue for the six months ended June 30, 2024, was HKD 26,061,000, compared to HKD 81,703,000 for the same period in 2023, representing a decrease of approximately 68.1%[11] - Revenue for the six months ended June 30, 2024, was HKD 26,061,000, a decrease from HKD 81,577,000 for the same period in 2023, representing a decline of approximately 68.1%[13] - The revenue from debt capital market services was approximately HKD 5,400,000, down from HKD 36,900,000 in the previous year, reflecting a challenging operating environment in the USD bond market in China[43] - The company recorded revenue of approximately HKD 26,100,000 for the six months ended June 30, 2024, a significant decrease of 68.1% compared to HKD 81,600,000 for the same period in 2023[43] Profit and Loss - The company reported a net loss of HKD 13,958,000 for the period, compared to a net loss of HKD 30,511,000 in the previous year, representing a 54.3% improvement[2] - The company reported a loss before tax of HKD 13,958,000 for the six months ended June 30, 2024, compared to a loss of HKD 31,036,000 for the same period in 2023[11][12] - The company reported a pre-tax loss of approximately HKD 13,900,000 for the current period, compared to a pre-tax loss of approximately HKD 31,000,000 for the same period last year[43] - The basic and diluted loss per share for the period was HKD 0.08, an improvement from HKD 0.18 in the same period last year[2] - Basic loss per share for the period was HKD 0.826, based on a weighted average of 16,903,112,755 shares, compared to HKD 1.794 for the same period in 2023[18][19] Expenses and Costs - Brokerage and commission income dropped to HKD 9,406,000, down 78.9% from HKD 44,571,000 year-on-year[1] - Gross profit for the period was HKD 18,208,000, a decline of 72.2% from HKD 65,536,000 in the prior year[1] - Administrative expenses decreased significantly to HKD 33,523,000, down 63.0% from HKD 90,698,000 year-on-year[2] - Other income and gains netted HKD 1,926,000, a decrease of 33.1% compared to HKD 2,878,000 in the previous period[2] - Interest expenses decreased to HKD 4,257,000 for the six months ended June 30, 2024, down from HKD 9,661,000 in the same period of 2023, representing a reduction of approximately 56.0%[15] Assets and Liabilities - The company's total assets as of June 30, 2024, were HKD 776,083,000, slightly down from HKD 777,212,000 at the end of 2023[4] - The total assets as of June 30, 2024, amounted to HKD 1,097,045,000, a decrease from HKD 1,432,571,000 as of June 30, 2023[12] - Current liabilities increased to HKD 320,962,000 from HKD 262,812,000, indicating a rise of 22.1%[4] - The total liabilities as of June 30, 2024, were HKD 321,490,000, compared to HKD 354,852,000 as of June 30, 2023, indicating a reduction of approximately 9.4%[12] - The company's equity attributable to shareholders was HKD 775,527,000, a slight decrease from HKD 776,656,000 at the end of the previous year[6] Lending and Investment Activities - Interest income from lending activities increased to HKD 14,034,000, compared to HKD 13,534,000 in the previous year, reflecting a growth of 3.7%[13] - Total receivables from lending activities amounted to HKD 452,023,000 as of June 30, 2024, an increase from HKD 438,619,000 as of December 31, 2023[21] - The five largest loans accounted for approximately HKD 330,900,000, representing 73.2% of total loans receivable[65] - The company has established a credit committee to oversee lending policies and procedures, ensuring compliance with credit assessments[55] - The lending business is primarily conducted through a wholly-owned subsidiary, which provides both secured and unsecured loans to clients[51] Market and Economic Conditions - The Hong Kong economy showed slight growth in the first half of 2024, driven by inbound tourism and private consumption, despite challenges from geopolitical tensions and high interest rates[44] - The company anticipates a significant decline in the issuance of offshore bonds in China, particularly in the pressured real estate sector[67] - The company believes that the Chinese bond market, being the second largest in the world, presents significant opportunities for returns and expects continued market growth[47] Corporate Governance and Compliance - The company has adopted a code of conduct regarding securities trading by its directors, ensuring compliance with the relevant regulations[79] - The audit committee has reviewed the company's interim financial statements and discussed financial reporting matters[78] - The company continues to maintain its accounting policies consistent with those used in the audited financial statements for the year ended December 31, 2023[8]
中达集团控股(00139) - 2024 - 中期业绩