Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 3,906,365 thousand, a decrease of 10.6% compared to HKD 4,371,945 thousand for the same period in 2023[1] - Gross profit for the same period was HKD 350,489 thousand, representing an increase of 21% from HKD 289,696 thousand in 2023[1] - The net profit attributable to the company's owners was HKD 33,371 thousand, up 64% from HKD 20,380 thousand in the previous year[2] - Basic and diluted earnings per share increased to HKD 12.01, compared to HKD 7.33 in the prior year, reflecting a growth of 64%[2] - The profit before tax for the six months ended June 30, 2024, was HKD 89,096,000, compared to HKD 72,287,000 for the same period in 2023, indicating an increase of about 23.2%[9][10] - The company reported a net loss of HKD 20,088,000 from foreign exchange losses for the six months ended June 30, 2024, compared to a loss of HKD 26,573,000 in the same period of 2023, showing an improvement[11] - The company’s total tax expense for the six months ended June 30, 2024, was HKD 18,074,000, a decrease from HKD 20,468,000 in the same period of 2023[12][14] - Net profit surged by 37% to HKD 71,022,000, while revenue decreased to HKD 3,906,365,000, reflecting challenges in the current market environment[27] Assets and Liabilities - The company's total assets as of June 30, 2024, were HKD 4,512,909 thousand, a decrease from HKD 4,794,354 thousand at the end of 2023[4] - Non-current assets, including investment properties, decreased to HKD 3,082,265 thousand from HKD 3,376,893 thousand in the previous year[4] - Accounts receivable and other receivables amounted to HKD 1,238,032,000 as of June 30, 2024, down from HKD 1,413,459,000 as of December 31, 2023[18] - Trade payables and other payables increased to HKD 690,827,000 as of June 30, 2024, compared to HKD 605,203,000 as of December 31, 2023[19] - Total equity decreased to HKD 3,979,217 thousand from HKD 4,052,636 thousand in the previous year[5] - The company reported a net cash position of HKD 1,041,833 thousand, an increase from HKD 961,129 thousand at the end of 2023[4] - The company reported a net cash deficit of HKD 1,423,733,000 as of June 30, 2024, down from HKD 1,881,674,000 at the end of 2023[34] - The debt-to-equity ratio was 70% as of June 30, 2024, compared to 78% at the end of 2023[36] Business Strategy and Operations - The company plans to continue focusing on market expansion and new product development to drive future growth[1] - Distribution business revenue contracted by 11% to HKD 3,752,163,000, but segment profit increased by 4% to HKD 113,970,000 due to higher sales of value-added products[28] - The company is actively exploring new investment opportunities while focusing on expanding its distribution business and optimizing its real estate investment portfolio[33] Corporate Governance and Compliance - The audit committee, composed entirely of independent non-executive directors, reviewed the interim report for the six months ended June 30, 2024, along with the company's auditors[43] - The company has adhered to the corporate governance code as stipulated in the Hong Kong Stock Exchange Listing Rules throughout the period ending June 30, 2024[41] - There were no purchases, sales, or redemptions of the company's listed securities by the company or any subsidiaries during the six months ended June 30, 2024[44] Employee and Community Engagement - Employee count increased to 1,193, with total salaries and benefits amounting to HKD 146,615,000, up from HKD 101,520,000 a year earlier[38] - The company expressed gratitude to employees, customers, suppliers, business partners, banks, and shareholders for their unwavering commitment and support[46] Dividend and Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024[17] - The company did not declare an interim dividend for the six months ended June 30, 2024, compared to no dividend declared for the same period last year[26] - The interim report will be sent to shareholders by September 30, 2024, and will also be published on the company's and the Hong Kong Stock Exchange's websites[45]
SIS INT'L(00529) - 2024 - 中期业绩