Financial Performance - Revenue decreased from approximately HKD 27.3 million for the six months ended June 30, 2023, to approximately HKD 15.0 million for the same period in 2024, representing a decline of about 45.1%[10] - The loss for the six months ended June 30, 2024, was approximately HKD 5.3 million, compared to a loss of approximately HKD 13.2 million for the same period in 2023[15] - The company incurred a loss before tax of HKD 5,256,000, compared to a loss of HKD 13,207,000 in the previous year, indicating an improvement in financial performance[30] - For the six months ended June 30, 2024, the company reported a total comprehensive loss attributable to owners of the company of HKD (5,724) thousand, compared to a loss of HKD (11,994) thousand for the same period in 2023, representing a 52.3% improvement[32] - The company recorded a total comprehensive income of HKD 155 thousand for the period, down from HKD 328 thousand in the previous year, indicating a decrease of 52.8%[32] Revenue and Expenses - The cost of sales and services decreased by approximately 57.5% to about HKD 9.1 million for the six months ended June 30, 2024[11] - Administrative expenses reduced to approximately HKD 13.7 million for the six months ended June 30, 2024, down from HKD 20.4 million in 2023, a decrease of about HKD 6.7 million[12] - Employee benefits expenses decreased to HKD 8,214,000 from HKD 13,124,000, reflecting a reduction of 37.5%[30] - The company reported a gross loss of HKD 3,919,000, an improvement from a gross loss of HKD 12,410,000 in the previous year[30] - The total operating expenses decreased to HKD 4,888,000 for the six months ended June 30, 2024, from HKD 7,232,000 in the same period last year[60] Cash Flow and Assets - Cash and cash equivalents decreased by approximately 64.1% to about HKD 9.4 million as of June 30, 2024, down from HKD 26.2 million as of December 31, 2023[17] - Current assets decreased to HKD 43,769 thousand as of June 30, 2024, compared to HKD 49,358 thousand as of December 31, 2023, a reduction of 11.3%[34] - The company's cash and cash equivalents significantly decreased to HKD 9,373 thousand from HKD 26,176 thousand, a decline of 64.2%[33] - Non-current assets decreased to HKD 2,805 thousand as of June 30, 2024, from HKD 3,432 thousand as of December 31, 2023, reflecting a decline of 18.2%[33] - The net current assets decreased to HKD 18,141 thousand from HKD 23,158 thousand, indicating a decrease of 21.6%[34] Liabilities and Equity - The debt-to-asset ratio increased to approximately 75.5% as of June 30, 2024, compared to 64.5% as of December 31, 2023[18] - The company’s total liabilities decreased to HKD 26,343 thousand as of June 30, 2024, from HKD 26,886 thousand as of December 31, 2023, a decrease of 2.0%[34] - The company’s equity attributable to owners of the company was reported at HKD (5,718) thousand as of June 30, 2024, compared to HKD 6 thousand as of December 31, 2023, indicating a significant decline[34] - The company recorded a net liability of approximately HKD 5,397,000 as of June 30, 2024, raising concerns about its ability to continue as a going concern[40] Investments and Acquisitions - The company completed the acquisition of 100% equity in Starry Design Engineering Limited for a total cash consideration of HKD 40,000 on March 19, 2024[104] - The acquisition of Qian Duo Duo Credit Limited was completed on January 4, 2024, for a total cash consideration of HKD 400,000[100] - The company sold 100% of Action Point International Limited for a cash consideration of HKD 600,000, which will be paid within 12 months post-completion[108] - The company sold another subsidiary, Transcend Global Asset Management Limited, for approximately HKD 639,000 on March 13, 2023[112] - The company is actively seeking other financing methods and bank loans to meet its existing financial obligations and future capital expenditures[40] Share Options and Capital - The 2016 Share Option Scheme has been terminated as of October 20, 2023, but unexercised options remain valid[84] - The 2023 Share Option Scheme was adopted on October 20, 2023, allowing for a maximum of 10% of the total issued shares to be granted as options[85] - The exercise price for options under the 2023 scheme is set at a minimum of 1.10 HKD per share[94] - The company aims to attract and retain qualified personnel through the new share option plans[85] - The maximum number of options that can be granted to any participant in a 12-month period is limited to 1% of the total issued shares[87] Corporate Governance and Compliance - The audit committee has reviewed the unaudited financial information and interim report for the six months ended June 30, 2024[130] - The company has complied with all corporate governance codes as per GEM Listing Rules Appendix 15 during the six months ended June 30, 2024[127] - There were no changes in the directors' information that required disclosure under GEM Listing Rules since the date of the 2023 annual report[118] - The company has adopted a code of conduct for directors' securities transactions, which is stricter than the GEM Listing Rules[128] - No directors or their close associates engaged in any business that directly or indirectly competes with the company during the six months ended June 30, 2024[126]
利骏集团香港(08360) - 2024 - 中期财报