Financial Performance - The company's revenue for the six months ended June 30, 2024, was HKD 159,263,000, a decrease of 11.9% compared to HKD 180,782,000 for the same period in 2023[1] - Gross profit for the period was HKD 25,674,000, with a gross margin of 16.1%, compared to HKD 18,875,000 and a margin of 10.4% in the previous year[1] - The net loss for the period was HKD 140,569,000, compared to a net loss of HKD 129,215,000 in the same period last year, reflecting a year-over-year increase in losses of 8.7%[1] - Total comprehensive expenses for the period amounted to HKD 157,892,000, down from HKD 180,953,000 in the prior year, indicating a reduction of 12.8%[2] - The total segment loss for the six months ended June 30, 2024, was HKD 147,312,000, compared to HKD 110,356,000 for the same period in 2023, indicating an increase in losses of about 33.5%[10] - Rental income for the six months ended June 30, 2024, was HKD 1,362,000, compared to HKD 3,360,000 for the same period in 2023, reflecting a decline of approximately 59.5%[10] - The pre-tax loss for the six months ended June 30, 2024, was HKD 155,776,000, compared to HKD 134,448,000 for the same period in 2023, representing an increase of approximately 15.9%[10] - The group reported a loss of HKD 140,569,000 for the period, compared to a loss of HKD 129,215,000 in the previous year[24] Assets and Liabilities - The company's total assets less current liabilities stood at HKD 1,771,046,000, a decrease from HKD 1,958,340,000 as of December 31, 2023[4] - Current liabilities decreased to HKD 1,068,722,000 from HKD 1,098,073,000, showing a reduction of 2.7%[4] - Non-current assets totaled HKD 1,754,690,000, down from HKD 1,924,725,000, representing a decline of 8.8%[3] - The group's current assets were approximately HKD 1,085,078,000 as of June 30, 2024, down from HKD 1,131,688,000 as of December 31, 2023[27] - The total equity of the group decreased by 10.9% to HKD 1,293,504,000 as of June 30, 2024, compared to HKD 1,451,396,000 as of December 31, 2023[27] - The group's debt-to-equity ratio increased to 1.20 as of June 30, 2024, from 1.11 as of December 31, 2023[27] Cash and Receivables - The company's cash and cash equivalents were HKD 642,898,000, slightly up from HKD 636,149,000 at the end of the previous year[3] - Trade and other receivables increased to HKD 287,743,000 from HKD 273,297,000, reflecting a growth of 5.3%[3] - As of June 30, 2024, the group's cash and bank deposits amounted to approximately HKD 649,455,000, a decrease from HKD 716,404,000 as of December 31, 2023[27] Employee and Compensation - The total employee compensation for the period was HKD 23,449,000, compared to HKD 23,018,000 for the same period in 2023[29] - The group employed approximately 510 staff as of June 30, 2024, down from 572 staff as of June 30, 2023[29] Dividends and Governance - The company did not declare any dividends for the interim period ending June 30, 2023, nor for the previous interim period[17] - The group has adopted corporate governance practices in compliance with the relevant rules and regulations as of June 30, 2024[33] Other Financial Metrics - The company reported a basic and diluted loss per share of HKD 17.75, compared to HKD 16.41 in the previous year, indicating a worsening in per-share performance[2] - The group reported a basic and diluted loss per share of HKD 0.177 for the six months ended June 30, 2024, compared to HKD 0.164 for the same period in 2023, indicating a worsening of the loss per share by about 7.9%[18] - Interest income from bank deposits for the six months ended June 30, 2024, was HKD 9,646,000, significantly higher than HKD 681,000 for the same period in 2023[14] - The fair value change of investment properties resulted in a loss of HKD 820,000 for the six months ended June 30, 2024, compared to a gain of HKD 790,000 in the same period in 2023[11] - Depreciation of property, plant, and equipment for the six months ended June 30, 2024, was HKD 13,653,000, down from HKD 16,650,000 in the same period in 2023, indicating a decrease of approximately 18%[13] Segment Performance - The home products segment achieved a revenue of HKD 37,494,000, a 51.9% increase from HKD 24,686,000 year-on-year, but recorded a loss of HKD 10,218,000[25] - Revenue from the PVC pipes and fittings segment was HKD 120,407,000, a decrease of 21.2% from HKD 152,736,000 in the previous year, with a loss of HKD 8,217,000[25] Compensation and Agreements - The group received a prepayment of RMB 502,692,000 (approximately HKD 539,948,000) for land compensation as of June 30, 2024[22] - The group also received RMB 385,434,000 (approximately HKD 414,000,000) for relocation compensation and RMB 19,419,000 (approximately HKD 20,858,000) for underground engineering compensation[22] - The group is preparing to receive compensation for replacement land as part of the land recovery agreement with local authorities[26] - The group is in the process of submitting a building design concept plan to the Chinese government as part of an investment agreement signed with the Zhongshan Shaxi Town People's Government[26] Credit and Securities - The group had a total available bank credit of HKD 377,217,000 as of June 30, 2024, with a utilization rate of 0%[27] - The group has pledged assets with a net book value of HKD 122,012,000 as collateral for general bank credit[28] - The group has not engaged in any purchase, sale, or redemption of its listed securities during the six months ending June 30, 2024[30]
世界(集团)(00713) - 2024 - 中期业绩