Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 83,932,000, representing an increase of 10.0% compared to HKD 75,678,000 for the same period in 2023[1][2] - Gross profit for the same period was HKD 20,872,000, down 15.4% from HKD 24,539,000, resulting in a gross margin of 24.9%, compared to 32.4% in 2023[1][2] - Profit for the period decreased to HKD 4,478,000, a decline of 50.7% from HKD 9,094,000 in the previous year[1][2] - Operating profit was HKD 7,870,000, down 41.0% from HKD 13,343,000 in the same period last year[2] - The company reported a basic and diluted earnings per share of HKD 0.74, down from HKD 1.58 in the previous year[2] - The company's profit attributable to owners decreased from approximately HKD 9,855,000 (for the six months ended June 30, 2023) to HKD 4,624,000 (for the six months ended June 30, 2024), representing a decline of 53%[18] - Basic earnings per share dropped from HKD 1.58 to HKD 0.74, a decrease of 53%[18] - Net profit fell from approximately HKD 9.1 million to approximately HKD 4.5 million, a decrease of 50.5%[26] Assets and Liabilities - The total assets as of June 30, 2024, were HKD 209,169,000, slightly up from HKD 205,916,000 as of December 31, 2023[4][5] - Current liabilities increased to HKD 96,771,000 from HKD 41,991,000 at the end of 2023, indicating a significant rise in short-term obligations[5] - The total liabilities decreased to HKD 99,586,000 as of June 30, 2024, from HKD 100,154,000 as of December 31, 2023[12] - As of June 30, 2024, the group's total borrowings were approximately HKD 61.1 million, an increase from HKD 59.7 million as of December 31, 2023[37] - The group's debt-to-equity ratio rose to approximately 59.5% as of June 30, 2024, compared to 58.7% on December 31, 2023, due to the slight increase in total borrowings[38] Revenue Sources - Revenue from the Hong Kong market increased to HKD 76,196,000, up 18.1% from HKD 64,529,000 in the previous year[9] - The company achieved approximately HKD 6.4 million in revenue from its green energy business in the first half of 2024[26] - The group’s revenue for the period was approximately HKD 83.9 million, representing an increase of HKD 8.2 million or 10.9% compared to HKD 75.7 million in the same period of 2023[29] Expenses - The company incurred total expenses of HKD 75,804,000 for the six months ended June 30, 2024, compared to HKD 62,151,000 in the previous year, marking an increase of 21.9%[14] - Administrative expenses increased by approximately 15.7% to about HKD 12.7 million, up from HKD 11.0 million in the same period of 2023, mainly due to increased employee benefits related to the development of green renewable energy business[33] - Depreciation expenses for the six months ended June 30, 2024, were HKD 861,000, compared to HKD 756,000 for the same period in 2023, representing an increase of 13.9%[11] Strategic Focus - The company continues to focus on the design and construction solutions for permanent mooring systems and the development of green energy solutions[6] - The company plans to continue focusing on the development and sales of green energy systems, indicating a strategic emphasis on sustainable energy solutions moving forward[11] - The company plans to expand its electricity sales business into other provinces with mature electricity spot markets, such as Shanxi[27] - The group established a new subsidiary focused on the development and application of artificial intelligence technology in the renewable energy sector to diversify its business and seek more investment opportunities[28] Acquisitions and Investments - The group completed the acquisition of a New Zealand company specializing in rooftop solar equipment installation in July 2024, enhancing its capabilities in the renewable energy sector[28] - The company completed the acquisition of a 51.22% stake in Future Energy Auckland Ltd. for NZD 2,100,000, enhancing its presence in the sustainable energy sector[47] Employee and Performance Metrics - The group has 77 full-time employees as of June 30, 2024, representing a 16.7% increase from 66 employees as of December 31, 2023[45] - The group’s performance guarantees amounted to HKD 22,741,000, an increase of 48.3% from HKD 15,326,000 as of December 31, 2023[43] - The group has provided performance guarantee insurance contracts worth HKD 8,484,000 for its green energy business, significantly up from HKD 2,203,000 in the previous period[43] Dividends - The board did not recommend any interim dividend for the period ending June 30, 2023, consistent with the previous period[49]
益美国际控股(01870) - 2024 - 中期业绩