Revenue Performance - Revenue for the six months ended June 30, 2024, was HKD 19,888,000, a decrease of 61.2% compared to HKD 51,267,000 for the same period in 2023[1] - Total revenue for the six months ended June 30, 2024, was HKD 19,888,000, compared to HKD 51,267,000 for the same period in 2023, representing a decrease of approximately 61.2%[11] - The company’s lending business reported a revenue decrease of 69% to HKD 14,662,000 in the first half of 2024, down from HKD 46,587,000 in the same period of 2023, while profit increased by 235% to HKD 15,025,000[34] Financial Losses - The company reported a pre-tax loss of HKD 859,000, significantly improved from a loss of HKD 22,312,000 in the previous year[2] - The total comprehensive loss attributable to owners of the company was HKD 1,582,000, compared to HKD 14,759,000 in the prior period[2] - The company reported a loss before tax of HKD 859,000 for the six months ended June 30, 2024, compared to a loss of HKD 22,312,000 for the same period in 2023, indicating an improvement in financial performance[11] - The company recorded a loss attributable to owners of HKD 1,926,000 for the period, compared to a profit of HKD 11,996,000 in the previous year[27] - The company incurred a loss of HKD 1,926,000 for the six months ended June 30, 2024, compared to a loss of HKD 11,996,000 for the same period in 2023, showing a significant reduction in losses[17] Asset Management - Non-current assets increased to HKD 279,124,000 as of June 30, 2024, from HKD 183,432,000 at the end of 2023, reflecting a growth of 52.1%[3] - Current assets decreased to HKD 1,986,800,000 from HKD 2,094,897,000, a decline of 5.2%[3] - The company's net asset value stood at HKD 2,210,146,000, slightly down from HKD 2,211,728,000 at the end of 2023[3] - The company's receivables from loans amounted to HKD 854,277,000 as of June 30, 2024, compared to HKD 767,232,000 as of December 31, 2023, indicating growth in loan receivables[18] - The total carrying amount of the company's loan portfolio increased by 5% to HKD 1,316,940,000 as of June 30, 2024, compared to HKD 1,253,368,000 at the end of 2023[35] Expenses and Costs - Employee costs increased to HKD 20,332,000 from HKD 15,522,000, representing a rise of 30.5%[1] - Other expenses decreased to HKD 15,909,000 from HKD 25,404,000, a reduction of 37.4%[1] - The financing costs for the six months ended June 30, 2024, were HKD 808,000, up from HKD 289,000 in the same period of 2023, suggesting increased borrowing costs[13] - The company’s financing costs increased to HKD 808,000 from HKD 289,000 in the previous year due to lease liabilities[41] Impairment and Credit Losses - The impairment loss on receivables for the six months ended June 30, 2024, was HKD 2,651,000, a decrease from HKD 49,019,000 in the same period of 2023, reflecting improved asset quality[15] - The company recorded a decrease in impairment losses on receivables to HKD 2,651,000 from HKD 48,683,000 in the previous year[39] - The company's impairment provision for expected credit losses decreased by 5% or HKD 23,473,000 to HKD 462,663,000 as of June 30, 2024, from HKD 486,136,000 at the end of 2023[35] - The company has not recognized any impairment losses on debt instruments measured at fair value through other comprehensive income during the first half of 2024, compared to an impairment loss of HKD 336,000 in the same period of 2023[32] Dividends and Shareholder Returns - The company did not declare any dividends for the interim period, consistent with the previous year[16] - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[26] Market and Business Strategy - The company maintained a cautious approach to managing its business amid a challenging operating environment influenced by high interest rates and geopolitical tensions[27] - The company continues to seek and evaluate business opportunities in the global commodity market to improve trade business performance[33] - The company plans to explore new business and investment opportunities to enhance its business scale and diversify its revenue base[42] Other Financial Metrics - The company reported a loss per share of HKD 0.01 for the current period, compared to HKD 0.06 in the previous year[2] - The weighted average number of ordinary shares for calculating basic loss per share remained constant at 20,385,254 for both periods[17] - The current ratio improved to approximately 55.8 from 51.3 at the end of 2023[40] - The company's equity attributable to owners was HKD 2,210,146,000, a slight decrease from HKD 2,211,728,000 at the end of 2023[40] - The fair value of listed equity securities held by the company was HKD 9,258,000 as of June 30, 2024, down from HKD 9,912,000 as of December 31, 2023[24] - The company did not record any income from its securities investments during the period, similar to the previous year, and reported an unrealized loss of HKD 548,000[29]
中策资本控股(00235) - 2024 - 中期业绩