Financial Performance - Revenue decreased by 6.7% to MOP 746.2 million compared to MOP 800.1 million in the same period last year[1] - Gross profit fell by 55.3% to MOP 47.5 million, primarily due to reduced margins in construction and steel structure businesses[1] - Net profit declined by 79.1% to MOP 8.0 million, attributed to lower gross profit and increased administrative expenses from business expansion[1] - Total comprehensive income for the period amounted to MOP 1.5 million, a significant drop from MOP 38.2 million in the same period last year[2] - Basic and diluted earnings per share decreased to MOP 0.17 from MOP 0.81 in the previous year[2] - The pre-tax profit for the six months ended June 30, 2024, was MOP 9,598,000, compared to MOP 48,904,000 for the same period in 2023, showing a significant decrease of approximately 80.4%[11] - The company reported a basic and diluted earnings per share of MOP 1.74 for the six months ended June 30, 2024, down from MOP 8.07 in the same period of 2023, representing a decline of 78.4%[17] - The company recorded a net profit decrease of 30.2 million MOP or 79.1%, with a net profit margin dropping from 4.8% to 1.1%[42] Contract and Project Status - The total value of uncompleted contracts in the construction business increased to MOP 709.8 million from MOP 574.4 million as of December 31, 2023[1] - The total value of uncompleted contracts in the steel structure business rose to MOP 529.6 million from MOP 466.8 million as of December 31, 2023[1] - As of June 30, 2024, the value of unfinished construction and renovation contracts was MOP 709.8 million, up from MOP 574.4 million at the end of 2023[30] - The company secured approximately 116,187 tons of orders for various steel materials, contributing MOP 554.9 million to revenue[32] Revenue Breakdown - The electric vehicle business generated revenue of MOP 1,452,000 for the six months ended June 30, 2024, compared to MOP 1,186,000 in the same period of 2023, indicating an increase of 22.5%[11] - The steel structure business reported revenue of MOP 554,866,000 for the six months ended June 30, 2024, slightly down from MOP 536,036,000 in the previous year, reflecting an increase of 3.4%[11] - The company's revenue from external customers in Macau and China was MOP 587,798,000 for the six months ended June 30, 2024, compared to MOP 748,864,000 in the same period of 2023, representing a decrease of approximately 21.5%[14] - Construction and renovation engineering revenue dropped by 88.0 million MOP or 57.9% due to a reduction in large construction projects from casino operators[36] - The steel structure business revenue increased by 18.8 million MOP or 3.5%, contributing 554.9 million MOP to total revenue, with a delivery of approximately 108,842 tons of steel materials[37] Assets and Liabilities - Current assets increased to MOP 858.7 million from MOP 831.4 million, while current liabilities slightly decreased to MOP 573.4 million from MOP 576.1 million[3] - The net asset value remained stable at MOP 481.6 million compared to MOP 480.0 million as of December 31, 2023[3] - The total contract assets as of June 30, 2024, were MOP 87,222,000, a decrease from MOP 111,423,000 as of December 31, 2023, indicating a decline of approximately 21.7%[18] - Trade receivables, net of credit loss provisions, were MOP 379,622,000 as of June 30, 2024, down from MOP 445,906,000 as of December 31, 2023, representing a decrease of 14.8%[21] - The total trade payables as of June 30, 2024, were MOP 354,088,000, an increase of 19.5% from MOP 295,957,000 on December 31, 2023[23] Operational Developments - The company has established new production and R&D facilities in Jiangmen, Guangdong Province, China, which are reflected in the prepaid amounts[21] - The company is involved in high-pressure substation construction and civil engineering, focusing on complex construction projects[27] - The company provides electric vehicle-related services and steel structure business, including sales and processing of new material steel structures[27] - The electric vehicle business includes charging services, distribution, and manufacturing of electric vehicle charging systems and batteries[29] - The group plans to expand its steel structure business into Hong Kong and Southeast Asia, leveraging its production facility in Jiangmen to enhance market share[53] - The group aims to grow its electric vehicle business, particularly in the casino and resort sectors, by establishing rental charging stations to improve profitability[53] Governance and Compliance - The group has no significant contingent liabilities as of June 30, 2024, maintaining a stable financial position[50] - The group has no major investments or acquisitions planned for the future, focusing on existing operations[46] - The group is committed to maintaining good corporate governance practices to protect shareholder interests and enhance transparency[54] - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors during the period[55] - The audit committee, consisting of three independent non-executive directors, has been established to oversee financial reporting and internal controls[56] - The external auditor has reviewed the group's accounting principles and the condensed consolidated financial statements for the six months ending June 30, 2024[57] Shareholder Information - The company has not declared dividends for the two reporting periods[26] - No interim dividend has been recommended by the board for the period[55] - A total of 266,408,595 new bonus warrants were issued to eligible shareholders, with an initial subscription price adjusted from HKD 1.78 to HKD 1.19 per share[55] - 60,012 warrants have been exercised, with all unexercised warrants expiring on May 24, 2024[55] - The board expressed gratitude for the support from shareholders, business partners, and professionals during the period[58]
澳能建设(01183) - 2024 - 中期业绩