Financial Performance - Revenue for the six months ended June 30, 2024, was approximately HKD 150.3 million, compared to HKD 153.2 million for the corresponding period[2]. - Loss for the period was approximately HKD 26.7 million, significantly improved from a loss of HKD 91.1 million in the corresponding period[2]. - Loss attributable to owners of the company for the period was approximately HKD 28.4 million, compared to HKD 87.6 million for the corresponding period[2]. - Basic loss per share for the period was approximately HKD 0.95, an improvement from HKD 2.94 in the corresponding period[2]. - Total comprehensive loss for the period amounted to HKD 82.3 million, compared to HKD 195.9 million for the corresponding period[4]. - The group recorded a consolidated loss attributable to shareholders of approximately HKD 28.4 million for the period, compared to a loss of approximately HKD 87.6 million in the corresponding period[47]. - The company reported a pre-tax loss of HKD 23,109,000 for the six months ended June 30, 2024, compared to a pre-tax loss of HKD 93,259,000 for the same period in 2023[15][17]. - The basic and diluted loss per share for the six months ended June 30, 2024, was HKD (0.95), compared to HKD (2.94) for the same period in 2023, reflecting a reduction in losses[35]. Revenue Breakdown - For the six months ended June 30, 2024, the total revenue from external customers was HKD 150,324,000, with contributions from brand promotion (HKD 23,234,000), retail (HKD 118,174,000), and financial services (HKD 8,916,000) [15]. - The brand promotion segment's revenue was approximately HKD 23.2 million, a decrease of about 14.5% from HKD 27.2 million in the corresponding period[48]. - Retail segment revenue for the period was approximately HKD 118.2 million, an increase of about 1.7% compared to the previous period's HKD 116.2 million[50]. - Financial services segment revenue decreased to approximately HKD 8.9 million, down about 9.4% from HKD 9.8 million in the corresponding period[51]. - For the six months ended June 30, 2023, total revenue from external customers was HKD 153,225,000, with brand promotion contributing HKD 27,183,000, retail HKD 116,198,000, and financial services HKD 9,844,000[17]. Assets and Liabilities - Non-current assets as of June 30, 2024, totaled approximately HKD 3,182.6 million, down from HKD 3,333.5 million as of December 31, 2023[5]. - Current assets as of June 30, 2024, were approximately HKD 1,476.3 million, compared to HKD 1,547.9 million as of December 31, 2023[5]. - As of June 30, 2024, current liabilities totaled HKD 1,459,724,000, an increase of 15.9% from HKD 1,259,086,000 as of December 31, 2023[6]. - The total value of current assets decreased significantly to HKD 16,549,000 from HKD 288,810,000, indicating a decline of 94.2%[6]. - Non-current liabilities amounted to HKD 756,999,000, down from HKD 1,083,056,000, representing a decrease of 30.1%[6]. - The total equity value as of June 30, 2024, was HKD 2,442,152,000, a decrease of 3.8% from HKD 2,539,298,000 at the end of 2023[6]. - The company reported a decrease in total assets from HKD 4,881,440,000 in December 2023 to HKD 4,658,875,000 in June 2024[23]. - The total liabilities decreased from HKD 2,342,142,000 in December 2023 to HKD 2,216,723,000 in June 2024[24]. Expenses and Income - The company reported a decrease in administrative expenses to approximately HKD 64.8 million from HKD 75.0 million in the corresponding period[3]. - Distribution and selling expenses decreased to approximately HKD 26.8 million, down about 29.5% from HKD 38.0 million in the previous period[54]. - Other income and gains for the period were approximately HKD 25.0 million, compared to HKD 15.3 million for the corresponding period[3]. - Other income increased significantly to HKD 25,009,000 in the first half of 2024, compared to HKD 15,262,000 in the same period of 2023[25]. - Interest income for the first half of 2024 was HKD 2,326,000, down from HKD 3,835,000 in the previous year[26]. Business Operations - The company is engaged in brand promotion, retail management, and financial services, indicating a diversified business model[7]. - The company plans to continue its market expansion and product development strategies in the upcoming periods[7]. - The online promotion and big data operations showed significant results, with WeChat follower numbers and online membership cards recording double-digit growth year-on-year[44]. - The group operates the "SKINS" brand in collaboration with Itochu Corporation, focusing on optimizing marketing strategies and expanding partnerships[45]. - The health product business will continue to focus on Hong Kong while looking for global opportunities[69]. Future Outlook - The company believes that the economic strength of the country remains solid and the long-term positive trend is unchanged[69]. - The company is cautiously optimistic about future development and aims for long-term healthy growth[69]. - The company plans to enhance its core competitiveness across various businesses, focusing on retail and brand operations[69]. Compliance and Governance - The company has adopted new accounting standards effective January 1, 2024, which may impact future financial reporting[9]. - The company has not reported any significant impact from the newly adopted accounting standards on its financial performance[11]. - The company has adopted the standard code for directors' securities trading and confirmed compliance during the period[72]. - The audit committee has reviewed the accounting policies and practices adopted by the company[73]. Employee and Dividend Information - The total number of employees as of June 30, 2024, was 265, a decrease from 301 employees as of June 30, 2023[65]. - The company did not declare any interim dividend for the period, consistent with the corresponding period[2]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024, maintaining the dividend at HKD 0.005 per share for the fiscal year ending December 31, 2023[34].
新沣集团(01223) - 2024 - 中期业绩