Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 142,960,000, a decrease of 6.7% compared to HKD 152,986,000 for the same period in 2023[1] - The company reported a loss of HKD 75,677,000 for the period, significantly higher than the loss of HKD 1,712,000 in the previous year[2] - Basic and diluted loss per share was HKD 0.0798, compared to HKD 0.0027 for the same period last year[2] - Total comprehensive loss for the period was HKD 76,426,000, compared to a total comprehensive income of HKD 5,541,000 in the previous year[3] - Reported segment revenue for the six months ended June 30, 2024, was HKD 145,278,000, a decrease of 6.1% from HKD 154,804,000 in the same period of 2023[15] - Revenue from external customers for the toy and model train segment was HKD 116,734,000, down 8.5% from HKD 127,456,000 in 2023[15] - The company reported a comprehensive loss before tax of HKD (75,082,000) compared to a loss of HKD (2,542,000) in the previous year[16] - The loss attributable to equity shareholders was approximately HKD 75.85 million, compared to a loss of HKD 2.58 million in the same period last year[33] Assets and Liabilities - Non-current assets as of June 30, 2024, amounted to HKD 2,426,037,000, a slight decrease from HKD 2,463,024,000 as of December 31, 2023[5] - Current assets included cash and cash equivalents of HKD 481,528,000, down from HKD 533,048,000 at the end of 2023[5] - Total liabilities decreased to HKD 386,000,000 from HKD 393,000,000 in the previous period[6] - The company's equity attributable to shareholders was HKD 2,031,498,000, down from HKD 2,107,938,000 at the end of 2023[6] - As of June 30, 2024, the group's net current liabilities amounted to HKD 304,606,000, an increase from HKD 287,233,000 as of December 31, 2023[8] - Cash and cash equivalents on June 30, 2024, were HKD 42,176,000, down from HKD 80,126,000 as of December 31, 2023[8] - Total reported segment assets as of June 30, 2024, were HKD 2,912,199,000, down from HKD 2,988,348,000 as of December 31, 2023[18] - Total reported segment liabilities decreased to HKD 944,542,000 from HKD 984,803,000 in the previous year[19] - Total bank borrowings amount to approximately HKD 653.39 million, slightly down from HKD 659.01 million as of December 31, 2023[35] - The debt-to-equity ratio calculated from total bank borrowings over total equity is approximately 32.05%, up from 31.16% as of December 31, 2023[35] Revenue Sources - Revenue from sales of toys and model trains generated approximately HKD 15,600,000 from a single customer, representing over 10% of the group's total revenue[11] - Rental income from investment properties for the six months ended June 30, 2024, was HKD 26,226,000, an increase from HKD 25,530,000 in the previous year[11] - The company's rental income was approximately HKD 26.23 million, an increase of about 2.74% year-on-year, accounting for approximately 18.35% of total revenue[33] Operational Insights - The company did not report any new product launches or technological advancements during this period[1] - There were no significant market expansions or acquisitions mentioned in the report[1] - The group has identified three reportable segments: Toys and Model Trains, Property Investment, and Investment Holding[10] - The group has not applied any new standards or interpretations that have not yet come into effect during the current accounting period[9] - The group’s management believes it has sufficient funds to meet its financial obligations due within the next twelve months[8] - The company anticipates higher sales in the second half of the year due to seasonal demand for its toy and model train products[19] - The group plans to diversify its business and explore sales opportunities to enhance operational efficiency and cost control measures in response to a challenging economic environment[41] - No significant acquisitions or disposals occurred during the six months ended June 30, 2024[35] Employee and Cost Management - Employee costs for the six months ended June 30, 2024, were approximately HKD 76.90 million, down from HKD 85.21 million for the same period in 2023[40] - Financial costs increased to HKD 19,792,000 from HKD 14,237,000, primarily due to higher bank loan interest[20] - Other income and gains decreased to HKD 6,520,000 from HKD 14,632,000, indicating a decline in overall profitability[16] Investment and Valuation - The investment properties recorded a valuation loss of approximately HKD 31.78 million, compared to a valuation gain of HKD 16.27 million in the same period last year[34] - The occupancy rate of the main investment property, Kai Tak Building, was approximately 71%, down from 75% as of June 30, 2023[34] - The group’s investment properties and certain leased lands and buildings, with a book value of approximately HKD 1.88849 billion, are mortgaged to several banks as collateral for bank financing[35] Foreign Exchange and Market Impact - The company reported a foreign exchange loss of approximately HKD 4.92 million during the period, compared to a foreign exchange gain of HKD 7.75 million in the same period last year[33]
开达集团(00180) - 2024 - 中期业绩