Revenue Performance - Revenue for the six months ended June 30, 2024, was HKD 111,185,000, a decrease of 11.1% compared to HKD 125,076,000 for the same period in 2023[1] - Total revenue for the six months ended June 30, 2024, was HKD 670 million, a decrease from HKD 930 million in the same period of 2023, representing a decline of approximately 28%[20] - The group generated revenue of approximately HKD 111,200,000 for the period, a decrease from HKD 125,100,000 for the six months ended June 30, 2023, representing a decline of about 11.5%[35] Profitability - Gross profit increased to HKD 72,610,000, up 4.9% from HKD 69,547,000 year-on-year[1] - Profit before tax was HKD 4,642,000, down 38.1% from HKD 7,505,000 in the previous year[2] - Net profit for the period was HKD 4,244,000, a slight increase of 4.0% compared to HKD 4,080,000 in 2023[2] - Total comprehensive income for the period was HKD 6,496,000, down 13.8% from HKD 7,540,000 in the previous year[2] - Basic and diluted earnings per share increased to HKD 0.40, up from HKD 0.38 in the same period last year[2] - The company reported a net profit of HKD 4,244 for the six months ended June 30, 2024, compared to HKD 4,080 for the same period in 2023, showing a slight increase of approximately 4.0%[12] Assets and Liabilities - Non-current assets totaled HKD 333,315,000, a slight increase from HKD 327,941,000 as of December 31, 2023[3] - Current assets decreased to HKD 256,462,000 from HKD 260,501,000 at the end of 2023[3] - Total liabilities increased to HKD 336,929,000 from HKD 323,434,000 at the end of 2023[4] - The company reported a net current liability of HKD 80,467,000, compared to HKD 62,933,000 at the end of 2023[3] - Total assets as of June 30, 2024, amounted to HKD 589,777, slightly down from HKD 588,442 as of December 31, 2023[14] - The total liabilities as of June 30, 2024, were HKD 440,113, compared to HKD 445,274 as of December 31, 2023, reflecting a reduction of approximately 1.2%[14] Segment Performance - The segment profit for the construction equipment business was HKD 7,705 for the six months ended June 30, 2024, compared to HKD 8,295 for the same period in 2023, indicating a decrease of about 7.1%[12] - Revenue from machinery sales for the six months ended June 30, 2024, was HKD 221, a significant drop from HKD 16,376 in the same period of 2023[17] - Service income increased to HKD 32,657 for the six months ended June 30, 2024, up from HKD 23,314 in 2023, marking an increase of approximately 40.5%[17] - Rental income from owned factories and machinery was HKD 75,541 for the six months ended June 30, 2024, compared to HKD 68,177 in 2023, representing an increase of about 10.0%[17] - The construction equipment business generated HKD 60,015 in revenue from the Hong Kong market for the six months ended June 30, 2024, up from HKD 40,334 in 2023, indicating a growth of about 48.8%[16] Expenses and Investments - The group reported total administrative and other operating expenses of approximately HKD 61,900,000, an increase of about 10.3% compared to the six months ended June 30, 2023[43] - Financial expenses for the six months ended June 30, 2024, totaled HKD 5,719 thousand, slightly up from HKD 5,465 thousand in the same period of 2023, representing an increase of about 5%[22] - The company incurred a loss of HKD 1,481 thousand from the sale of property, plant, and equipment during the six months ended June 30, 2024, compared to a loss of HKD 282 thousand in the same period of 2023[28] - Capital expenditures for the six months ended June 30, 2024, amounted to approximately HKD 16,406 thousand, significantly higher than HKD 1,819 thousand in the same period of 2023[28] Market Outlook and Strategy - The group plans to increase investment in Singapore and Hong Kong to capitalize on the anticipated robust growth in the construction industry driven by rising market demand, particularly in residential construction and infrastructure development[44] - In Singapore, the total value of construction contracts awarded in the first half of 2024 is SGD 18.2 billion, accounting for 50% of the annual budget, with an expected total for the year between SGD 32 billion to SGD 38 billion[45] - The construction output in Singapore is projected to be between SGD 34 billion to SGD 37 billion for the year[45] - The Hong Kong government’s average annual capital expenditure for the next five years is estimated at HKD 90 billion, a 17% increase from the previous five-year average of HKD 76 billion[45] Governance and Communication - The mid-term report for the period has been published on the Hong Kong Stock Exchange and the company's website[59] - The board of directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[59] - The company is committed to timely communication with shareholders as per listing rules[59]
佳兆业资本(00936) - 2024 - 中期业绩