Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 23,322,000, an increase of 11.5% compared to HKD 20,897,000 for the same period in 2023[2] - Other income and gains for the period amounted to HKD 5,700,000, compared to a loss of HKD 4,382,000 in the previous year[2] - The net loss for the period was HKD 9,573,000, a significant improvement from a loss of HKD 18,755,000 in the same period last year[2] - Basic and diluted loss per share was HKD 0.67, compared to HKD 1.32 for the same period in 2023[2] - The company reported a pre-tax loss of HKD 9,572,000 for the six months ended June 30, 2024, compared to a loss of HKD 18,753,000 for the same period in 2023[20] - The loss attributable to the company's owners for the six months ended June 30, 2024, was approximately HKD 9,600,000, a reduction of about 49.0% from HKD 18,800,000 in the same period of 2023[38] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 175,593,000, a decrease from HKD 186,639,000 as of December 31, 2023[3] - Current assets totaled HKD 169,986,000, down from HKD 176,075,000 at the end of 2023[3] - Current liabilities increased to HKD 126,030,000 from HKD 124,120,000 at the end of 2023[3] - The company's equity attributable to owners was HKD 49,069,000, down from HKD 58,641,000 at the end of 2023[3] - As of June 30, 2024, the company's cash and cash equivalents were approximately HKD 112,700,000, compared to HKD 112,400,000 as of December 31, 2023[40] - The company's total debt as of June 30, 2024, was approximately HKD 99,200,000, down from HKD 103,200,000 as of December 31, 2023[41] - The capital debt ratio increased to 202.2% as of June 30, 2024, from 176.0% as of December 31, 2023, due to a decrease in reserves by approximately 11.5%[41] - The company had a net asset value of approximately HKD 44,000,000 as of June 30, 2024, down from HKD 52,000,000 as of December 31, 2023[41] Revenue Breakdown - Fund management service revenue decreased to HKD 4,181,000, down 34.9% from HKD 6,430,000 in the previous year[11] - External asset management advisory commission revenue increased significantly to HKD 18,582,000, up 46.5% from HKD 12,677,000 in the prior year[11] - Revenue from external asset management services for the six months ended June 30, 2024, was approximately HKD 18.6 million, compared to HKD 12.7 million for the same period in 2023, representing a growth of about 46.5%[48] - Revenue from fund management services for the six months ended June 30, 2024, was approximately HKD 4.2 million, down from HKD 6.4 million for the same period in 2023, indicating a decline of about 34.4%[49] - Revenue from institutional financing advisory services for the six months ended June 30, 2024, was approximately HKD 300,000, a decrease from HKD 1.1 million for the same period in 2023, reflecting a decline of about 72.7%[52] Expenses - Research and development costs were HKD 6,750,000, marking the first reporting of such expenses[2] - Total operating expenses for the six months ended June 30, 2024, were HKD 4,589,000, a slight decrease from HKD 4,795,000 in the previous year[15] - Employee costs for the six months ended June 30, 2024, were approximately HKD 10.4 million, a decrease from HKD 12.1 million for the same period in 2023, indicating a reduction of about 14.0%[56] - The company incurred depreciation expenses of HKD 723,000, up from HKD 489,000 in the prior year[14] - Interest expenses on bank notes totaled HKD 4,488,000, slightly up from HKD 4,463,000 in the previous year[16] Investments - As of June 30, 2024, the fair value of private equity fund investments decreased to HKD 17,629,000 from HKD 23,850,000 as of December 31, 2023, representing a decline of approximately 26%[22] - The fair value of the company's equity in the bond issued by a private company was assessed at approximately HKD 5,630,000, resulting in an unrealized gain of about HKD 1,401,000 for the period[63] - The group's investment in a private company was recorded at HKD 2,000,000, with no significant influence or joint control, classified as fair value through profit or loss[24] - The investment fund's net unrealized gain for the six months ended June 30, 2024, was HKD 4,879,000, compared to a net unrealized loss of HKD 5,372,000 for the same period in 2023[27] - The fair value of investments in the fund as of June 30, 2024, was approximately HKD 17.6 million, down from HKD 23.9 million as of December 31, 2023, representing a decrease of about 26.5%[54] Corporate Governance and Compliance - The company has complied with all provisions of the Corporate Governance Code, except for the separation of roles between the Chairman and the CEO, which are currently held by the same individual[59] - The company’s audit committee reviewed the unaudited interim financial results for the six months ended June 30, 2024, which were also reviewed by an external auditor[61] - The board of directors includes executive directors Xu Peixin, Sun Lei (Chairman), and Zhu Dong, along with independent non-executive directors Qi Daqing, Chen Yigong, and Feng Zhonghua[68] Future Outlook - The company is focused on expanding its financial services offerings and enhancing its operational efficiency[4] - The Group is optimistic about benefiting from the economic recovery in Hong Kong despite facing challenges due to geopolitical tensions and high interest rates[52] - The Group is exploring opportunities in emerging financial markets to further develop its financial services business[52] - The investment fund is undergoing liquidation, with expected recovery of funds by the end of 2024, net of fees[27] Miscellaneous - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[19] - The company did not purchase, sell, or redeem any of its listed securities during the six months ended June 30, 2024[58] - No significant events occurred after the six months ended June 30, 2024, up to the date of this announcement[66] - The interim report for the six months ended June 30, 2024, will be published on the stock exchange and the company's website[67]
贝森金融(00888) - 2024 - 中期业绩