Financial Performance - For the six months ended June 30, 2024, the company reported revenue of MOP 57,149,000, a decrease of 16.1% compared to MOP 68,120,000 for the same period in 2023[1] - The gross profit for the same period was MOP 2,697,000, down from MOP 1,788,000 in 2023, indicating a significant decline in profitability[1] - The company recorded a loss before tax of MOP 4,250,000, compared to a loss of MOP 5,368,000 in the previous year, showing an improvement in loss reduction[1] - The company’s loss per share for the period was MOP 0.85, an improvement from MOP 1.07 in the same period last year[1] - The group recorded a net loss of approximately 4.3 million MOP for the period, compared to a net loss of about 5.4 million MOP in the same period of 2023, mainly due to tightened cost management[41] Assets and Liabilities - Total assets as of June 30, 2024, were MOP 208,045,000, a decrease from MOP 221,446,000 as of December 31, 2023[2] - Current liabilities increased to MOP 32,404,000 from MOP 41,846,000, reflecting a reduction in short-term financial obligations[2] - The company's net asset value decreased to MOP 201,197,000 from MOP 205,447,000, indicating a decline in overall equity[2] - The company’s cash and cash equivalents were reported at MOP 85,126,000, a significant increase from MOP 27,025,000 at the end of 2023[2] - The group had total borrowings of approximately 12.6 million MOP as of June 30, 2024, slightly down from 12.8 million MOP as of December 31, 2023[42] Cash Flow and Receivables - The company reported a net cash flow from operating activities of (13,690) thousand AUD for the six months ended June 30, 2024, compared to 6,436 thousand AUD for the same period in 2023, indicating a significant decline[5] - The company experienced a cash decrease of 69,947 thousand AUD during the period, resulting in a cash balance of 44,785 thousand AUD at the end of June 2024[5] - The company reported trade receivables from customer contracts, net of credit loss provisions, increased to 37,971,000 AUD as of June 30, 2024, compared to 27,805,000 AUD as of December 31, 2023, reflecting a growth of approximately 36.7%[24] - The total trade receivables balance as of June 30, 2024, was approximately 26,398,000 AUD, up from 9,605,000 AUD as of December 31, 2023, indicating a substantial increase in overdue amounts[25] Revenue Breakdown - Revenue from electromechanical engineering decreased to 55,970 thousand AUD, down 15.5% from 66,347 thousand AUD in the previous year[10] - Maintenance and repair service revenue also declined to 1,179 thousand AUD, a decrease of 33.5% from 1,773 thousand AUD in the prior year[10] - The total revenue for the six months ended June 30, 2024, was 57,149 thousand AUD, down 16.1% from 68,120 thousand AUD in the same period of 2023[10] Other Income and Expenses - Bank interest income for the six months ended June 30, 2024, was AUD 2,631,000, an increase of 53.2% compared to AUD 1,719,000 for the same period in 2023[11] - Total other income for the six months ended June 30, 2024, was AUD 2,697,000, up from AUD 1,788,000 in 2023, representing a growth of 50.8%[11] - Total employee costs for the six months ended June 30, 2024, amounted to AUD 12,267,000, an increase of 8.9% from AUD 11,261,000 in 2023[14] - Administrative expenses increased by approximately 0.1 million MOP or 2.0%, primarily due to higher employee costs during the period[40] Strategic Outlook - The company plans to continue focusing on cost management and operational efficiency to improve financial performance in the upcoming periods[1] - The group has a cautious optimistic outlook for the near future, anticipating stable growth in Macau's GDP due to the recovery of the tourism industry[49] - The group aims to continue pursuing new projects flexibly and prudently to maintain stable operations and solidify its position as a leading enterprise in Macau's electromechanical sector[49] Dividends and Shareholder Information - No interim dividend was declared for the six months ended June 30, 2024, consistent with the previous year[16] - The total issued and fully paid ordinary shares remained at 500,000,000 shares with a par value of 0.01 HKD as of June 30, 2024, unchanged from December 31, 2023[30] - The company has decided not to declare an interim dividend for the six months ending June 30, 2024, compared to no dividend for the same period ending June 30, 2023[53] Governance and Compliance - The Audit Committee consists of three members, all independent non-executive directors, ensuring effective oversight of financial reporting and risk management[54] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period and holds no treasury shares as of June 30, 2024[53]
濠江机电(01408) - 2024 - 中期业绩