Financial Performance - For the six months ended June 30, 2024, the group recorded revenue of approximately HKD 20,500,000, a decrease from HKD 83,380,000 for the same period in 2023, representing a decline of 75.4%[3] - The group incurred a loss of approximately HKD 12,982,000 for the six months ended June 30, 2024, compared to a loss of HKD 13,604,000 for the same period in 2023, indicating a slight improvement of 4.6%[4] - Basic loss per share for the period was HKD 0.17, compared to HKD 0.18 for the same period in 2023[5] - The group reported a total comprehensive loss of HKD 16,062,000 for the six months ended June 30, 2024, compared to HKD 18,753,000 for the same period in 2023, reflecting a decrease of 9.1%[5] - The group experienced a significant decrease in inventory changes, with a loss of HKD 19,549,000 for the period compared to a loss of HKD 82,372,000 in the previous year[4] - The automotive trading segment generated revenue of HKD 19,715,000, down 76.3% from HKD 82,780,000 in the previous year[15] - For the six months ended June 30, 2024, the group reported external sales of HKD 20,343,000, a decrease of 75.6% compared to HKD 83,170,000 for the same period in 2023[20] - The total segment loss for the automotive division was HKD (3,517,000) for the six months ended June 30, 2024, compared to HKD (5,804,000) for the same period in 2023, indicating an improvement[19] - The group incurred a total loss of HKD (12,982,000) for the six months ended June 30, 2024, slightly better than the loss of HKD (13,598,000) for the same period in 2023[24] Assets and Liabilities - Non-current assets as of June 30, 2024, amounted to HKD 22,608,000, a decrease from HKD 23,930,000 as of December 31, 2023[7] - Current assets totaled HKD 210,526,000 as of June 30, 2024, compared to HKD 220,349,000 as of December 31, 2023, showing a decrease of 4.3%[7] - Current liabilities increased to HKD 128,517,000 as of June 30, 2024, from HKD 123,413,000 as of December 31, 2023, representing an increase of 4.1%[8] - The net asset value decreased to HKD 102,157,000 as of June 30, 2024, from HKD 118,219,000 as of December 31, 2023, indicating a decline of 13.6%[8] - The company’s total equity as of June 30, 2024, was HKD 102,157,000, reflecting a decrease from HKD 118,656,000 at the end of the previous period[9] - The group’s total liabilities were approximately HKD 130.98 million, resulting in a debt-to-equity ratio of 128.4% as of June 30, 2024[47] - The company reported contract liabilities of HKD 77,212,000 as of June 30, 2024, compared to HKD 73,393,000 on December 31, 2023, reflecting a 5% increase[37] Cash Flow and Financing - The net cash generated from operating activities was HKD 7,728,000, compared to a net cash outflow of HKD 5,087,000 in the same period last year[10] - The total cash and cash equivalents at the end of the period were HKD 25,546,000, a decrease from HKD 26,614,000 at the end of June 2023[10] - The financing activities resulted in a net cash outflow of HKD 1,713,000, compared to HKD 1,206,000 in the same period last year[10] - The financing costs increased to HKD 1,734,000 for the six months ended June 30, 2024, compared to HKD 1,242,000 for the same period in 2023[22] Investments and Assets Management - The group purchased property, plant, and equipment amounting to approximately HKD 23,000,000 for the six months ended June 30, 2024, down from HKD 79,000,000 for the same period in 2023[27] - The cash flow from investing activities showed a net outflow of HKD 23,000, a slight improvement from HKD 79,000 in the previous year[10] - The group’s fair value of financial assets at fair value through profit or loss was HKD 148,000 as of June 30, 2024, down from HKD 16,821,000 as of December 31, 2023[28] Corporate Governance and Compliance - The board did not recommend the payment of dividends for the six months ended June 30, 2024[4] - The company has not declared any dividends for the six months ending June 30, 2024, consistent with the previous period[40] - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the six months ending June 30, 2024, ensuring compliance with applicable accounting standards[59] - The company has adhered to all principles and code provisions of the GEM Listing Rules, except for the separation of roles between the chairman and CEO[57] - The company has established a code of conduct for directors' securities transactions, confirming compliance throughout the year[58] - The company will make its public announcements available on the Hong Kong Stock Exchange website for at least seven days from the date of publication[60] Business Development and Strategy - The group is developing four new drugs for lymphoma, sarcoma, colorectal cancer, and drug-resistant tuberculosis, with one drug currently in phase II clinical trials[42] - As of June 30, 2024, the group had six models of imported National VI standard vehicles certified by the Ministry of Ecology and Environment in China[45] - The group plans to expand its offerings of new energy vehicles in response to declining demand for gasoline vehicles[45] - The company completed the sale of its wholly-owned subsidiary Sinofortune BVI for HKD 4,000,000 on July 9, 2024[41] - The group has entered into a conditional sale agreement to sell Sinofortune BVI for HKD 4.00 million plus the net asset value of its subsidiaries, aiming to divest non-profitable businesses[43] Employment and Human Resources - As of June 30, 2024, the group employed 46 staff members, with total employee costs approximately HKD 6.52 million, a decrease from HKD 7.05 million as of June 30, 2023[50]
华亿金控(08123) - 2024 - 中期业绩