Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 411,025,000, an increase of 12.2% compared to HKD 366,229,000 for the same period in 2023[1] - Gross profit for the same period was HKD 178,771,000, representing a gross margin of 43.5%, compared to HKD 134,352,000 and a gross margin of 36.7% in 2023[1] - The net profit attributable to the company's owners for the period was HKD 62,942,000, a significant increase from HKD 8,893,000 in the previous year[2] - The company reported total comprehensive income of HKD 44,262,000, compared to a loss of HKD 85,015,000 in the same period last year[2] - Basic earnings per share for continuing operations was HKD 3.68, up from HKD 0.52 in the prior year[2] - Total segment profit for the six months ended June 30, 2024, was HKD 111,399,000, compared to HKD 76,806,000 in the previous year, reflecting a growth of 45.0%[11] - The company reported a loss of HKD 7,663,000 for the six months ended June 30, 2024, compared to a profit of HKD 9,628,000 for the same period in 2023, indicating a significant decline in performance[22] Revenue Breakdown - Financing leasing consulting service revenue was HKD 39,599,000, down 4.9% from HKD 41,627,000 year-on-year[9] - Revenue from civil explosives business blasting engineering increased significantly to HKD 24,515,000, up 25.7% from HKD 19,510,000 in the previous year[9] - The health and elderly care business service revenue rose to HKD 50,376,000, a 14.0% increase from HKD 44,091,000 in the prior year[9] - The financing leasing segment reported revenue of HKD 189,083,000, up 9.8% from HKD 173,031,000 year-on-year[11] - The civil explosives business generated total revenue of HKD 111,720,000, an increase of 9.5% from HKD 102,236,000 in the same period last year[11] - The revenue from the health and elderly care business reached approximately HKD 96,897,000, marking a year-on-year increase of 31.5%[53] Assets and Liabilities - Non-current assets totaled HKD 4,948,913,000 as of June 30, 2024, compared to HKD 4,800,403,000 at the end of 2023[3] - Current assets increased to HKD 2,800,413,000 from HKD 2,182,497,000 in the previous year[3] - The company's total equity attributable to owners was HKD 1,060,322,000, up from HKD 980,032,000 at the end of 2023[4] - Total liabilities decreased to HKD 3,243,315,000 from HKD 3,326,128,000 in the previous year[4] - The total assets of the group as of June 30, 2024, were HKD 6,034,231,000, an increase from HKD 5,793,885,000 at the end of 2023[13] - The total liabilities held for sale amounted to HKD 1,807,561,000, including lease liabilities of HKD 1,047,323,000 and borrowings of HKD 564,585,000[30] Cash Flow and Expenses - The company incurred a total financial expense of HKD 39,240,000 for the six months ended June 30, 2024, compared to HKD 28,961,000 for the same period in 2023, reflecting an increase of approximately 35.4%[19] - The company’s bank interest income rose to HKD 6,851,000 for the six months ended June 30, 2024, compared to HKD 4,184,000 in the previous year, marking an increase of about 63.8%[18] - Cash flow from operating activities showed a net inflow of HKD 3,733,000 for the six months ended June 30, 2024, compared to an outflow of HKD 8,049,000 in the previous year[28] Dividends and Shareholder Returns - The company declared a special dividend of HKD 7,192,000 for the fiscal year 2023, calculated based on 1,712,329,142 shares at HKD 0.42 per share[33] - The company has approved a special dividend of HKD 0.42 per share for shareholders registered on July 9, 2024, compared to zero in 2023[66] - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[32] Business Developments and Strategies - The company has not disclosed any new product developments or market expansion strategies during this reporting period[1] - The company completed the sale of a 72% stake in Zhongyan Taike Construction Co., Ltd. for approximately HKD 1,063,000,000 on March 1, 2024, which will result in the discontinuation of its property development business[23] - The company is expanding its elderly care services and facilities, with ongoing construction of an additional 1,200 elderly care beds[53] - The company is focusing on environmental financing leasing, aiming to become a leading specialized company in this sector in China[54] Risk Management and Governance - The company has established financial risk management policies to ensure all payables are settled within credit terms[44] - The company is committed to improving its risk management system to reduce non-performing asset rates in its financing leasing operations[64] - The audit committee, composed of three independent non-executive directors, reviewed the accounting principles and financial reports for the six months ending June 30, 2024[70] - The company adheres to the corporate governance code and has complied with all relevant regulations during the reporting period[68]
中国兴业控股(00132) - 2024 - 中期业绩