Revenue and Profitability - Revenue from continuing operations increased by approximately 4.5% to about HKD 252.0 million compared to the same period in 2023[1] - Gross profit from continuing operations rose by approximately 18.6% to about HKD 64.5 million, with a gross profit margin increase of about 3.0% to approximately 25.6%[1] - Total revenue for the six months ended June 30, 2024, was HKD 251.982 million, a decrease from HKD 241.174 million for the same period in 2023, representing a decline of approximately 3.3%[14] - Total revenue from continuing operations for the six months ended June 30, 2024, was HKD 251,982, an increase from HKD 241,174 for the same period in 2023, representing a growth of approximately 4%[17] - Revenue from the restaurant business was HKD 203,800, slightly down from HKD 204,706 in the previous year, indicating a decrease of about 0.4%[17] - Revenue from professional services increased significantly to HKD 36,555, up from HKD 29,134, marking a growth of approximately 25.5%[17] - Revenue from securities trading and related services rose to HKD 4,089, compared to HKD 2,268, reflecting an increase of about 80.5%[17] - The total income from contract customers was HKD 251,368, up from HKD 240,508, which is an increase of approximately 4.5%[18] - The company reported a total profit of approximately HKD 6.1 million for the reporting period, compared to a loss of approximately HKD 5.1 million for the period ending June 30, 2023, primarily due to increased revenue and reduced impairment losses on trade receivables from margin financing[49] Losses and Expenses - Loss from continuing operations for the period was approximately HKD 32.9 million, compared to a loss of approximately HKD 13.1 million in the same period of 2023[1] - Basic loss per share from continuing operations was approximately HKD 1.32, compared to HKD 0.72 in the same period of 2023[4] - The company reported a total comprehensive loss of HKD 22.0 million for the period, compared to a comprehensive income of HKD 4.2 million in the same period of 2023[4] - The company reported a total loss before tax of HKD 31.268 million for the ongoing business operations for the six months ended June 30, 2024[14] - The group reported a pre-tax loss from continuing operations, with the cost of goods sold amounting to HKD 179,254, up from HKD 178,054, indicating a marginal increase of about 0.7%[21] - The total employee costs increased to HKD 36,855 from HKD 28,984, representing a significant rise of approximately 27.5%[21] - The company reported a loss attributable to equity holders of HKD 29,512,000 for the period, compared to a loss of HKD 20,411,000 in the previous period[30] - The company reported a loss of approximately HKD 16.5 million in the lending and credit card business, up from a loss of approximately HKD 9.8 million for the period ending June 30, 2023, mainly due to increased employee costs[51] Assets and Liabilities - Total assets decreased to HKD 535.6 million from HKD 574.2 million as of December 31, 2023[5] - Non-current assets decreased from HKD 236.6 million to HKD 225.8 million[5] - Current liabilities decreased from HKD 170.7 million to HKD 149.5 million[6] - Cash and bank balances decreased from HKD 358.3 million to HKD 328.2 million[5] - Total assets as of June 30, 2024, amounted to HKD 761.439 million, down from HKD 810.792 million as of December 31, 2023[15][16] - Total liabilities as of June 30, 2024, were HKD 153.489 million, a decrease from HKD 177.109 million as of December 31, 2023[15][16] - Trade receivables totaled HKD 69,292,000 as of June 30, 2024, down from HKD 84,419,000 at the end of the previous year[36] - Trade receivables amounted to approximately HKD 66.7 million, a decrease from HKD 81.7 million as of December 31, 2023[66] - Trade payables were approximately HKD 110.2 million, down from HKD 123.3 million as of December 31, 2023[67] - Inventory decreased by approximately 11.9% to HKD 37.6 million as of June 30, 2024, compared to HKD 42.7 million as of December 31, 2023[68] - The asset-liability ratio was approximately 20.2% as of June 30, 2024, down from 21.8% as of December 31, 2023[69] Financial Reporting and Standards - The company has adopted new international financial reporting standards effective from January 1, 2024, but these did not have a significant impact on the financial statements[10][11] - The group did not declare any interim dividend for the six months ended June 30, 2024, consistent with the previous year[24] - The company did not issue any potential shares during the periods ended June 30, 2024, and June 30, 2023, resulting in no diluted loss per share being presented[31] - The company has complied with the corporate governance code, except for the absence of a chairman during the reporting period[81] Business Operations and Strategy - The company continues to focus on its core business segments: food and beverage, financial services, and property holding, while evaluating potential market expansion opportunities[11] - The company has terminated operations in a subsidiary providing temperature-controlled storage services, which is classified as discontinued operations[12] - The company anticipates a challenging investment environment in 2024 due to inflation, interest rate volatility, and geopolitical tensions[74] - The company is actively exploring opportunities to diversify its business portfolio in the financial services sector in Hong Kong and Asia[75] - The company has received conditional approval from the government for redevelopment plans of its land and properties in Yuen Long[75] Employee and Governance - As of June 30, 2024, the group employed 131 employees, an increase from 126 employees as of December 31, 2023[76] - The group has a mandatory provident fund plan where both the company and each employee contribute 5% of the employee's relevant income, with a monthly cap of HKD 30,000[77] Share Repurchase and Capital Expenditures - The company repurchased a total of 59,762,000 shares at a total cost of HKD 3,697,100 during the six months ended June 30, 2024[79] - The highest price per share repurchased in January 2024 was HKD 0.055, while the lowest was HKD 0.026[79] - Capital expenditures during the reporting period were approximately HKD 0.1 million, primarily for office renovations and equipment purchases[62] Other Financial Information - Other income and gains decreased by 56.8% to approximately HKD 5.4 million, down from approximately HKD 12.5 million for the same period last year, primarily due to the absence of impairment loss reversals on properties under development[56] - Selling and distribution expenses increased by approximately 16.7% to about HKD 21.7 million, compared to approximately HKD 18.6 million for the period ending June 30, 2023, driven by increased advertising costs related to financial services[57] - Administrative expenses rose by approximately 29.4% to about HKD 61.6 million, compared to approximately HKD 47.6 million for the period ending June 30, 2023, mainly due to increased employee and professional costs[58] - Other expenses increased by approximately 87.2% to about HKD 17.6 million, compared to approximately HKD 9.4 million for the period ending June 30, 2023, primarily due to impairment losses on properties under development and changes in fair value of investment properties[59] - The company completed the sale of its entire interest in a subsidiary for approximately HKD 2.3 million, resulting in a recognized gain of approximately HKD 1.1 million for the period ending June 30, 2023[60] - The company's net loss attributable to shareholders was approximately HKD 29.5 million, with a net loss margin of about 11.7%[61] - There were no significant events after June 30, 2024, that would impact the group's financial performance[83] - The company will issue a mid-term report containing all required information to shareholders at an appropriate time[84]
未来发展控股(01259) - 2024 - 中期业绩