Financial Performance - For the six months ended June 30, 2024, the total revenue was HKD 53,446,000, a decrease of 18% compared to HKD 65,166,000 for the same period in 2023[1]. - The company reported a pre-tax loss of HKD 94,204,000 for the first half of 2024, compared to a pre-tax loss of HKD 30,486,000 in the same period of 2023, representing an increase in losses of 208%[1]. - The net loss for the period was HKD 94,291,000, compared to a net loss of HKD 31,118,000 in the previous year, indicating a significant increase in losses of 202%[2]. - The company's total comprehensive expenses for the period amounted to HKD 161,545,000, compared to HKD 31,142,000 in the same period last year, reflecting a substantial increase in expenses[2]. - The company reported a basic and diluted loss per share of HKD 9.63 for the first half of 2024, compared to HKD 3.25 for the same period in 2023, indicating a significant increase in loss per share[2]. - The company reported a net loss of HKD 94,291,000 for the six months ended June 30, 2024, compared to a net loss of HKD 31,118,000 for the same period in 2023[11][19]. - The group recorded a consolidated loss before tax of approximately HKD 94,200,000, compared to a loss of about HKD 30,500,000 in 2023[34]. - The group’s loss attributable to shareholders for the period was approximately HKD 91,100,000, compared to HKD 30,700,000 in 2023[34]. Assets and Equity - The total assets as of June 30, 2024, were HKD 1,755,239,000, a decrease from HKD 1,911,892,000 as of December 31, 2023[4]. - The company's equity attributable to owners was HKD 1,457,360,000 as of June 30, 2024, down from HKD 1,615,664,000 at the end of 2023, representing a decline of 10%[4]. - The company’s non-current assets totaled HKD 953,626,000 as of June 30, 2024, down from HKD 1,118,613,000 at the end of 2023, reflecting a decrease of 15%[3]. - The net asset value as of June 30, 2024, was approximately HKD 1,745,600,000, a decrease of about HKD 161,500,000 from the end of the previous fiscal year[47]. Cash and Receivables - The company’s cash and cash equivalents stood at HKD 42,534,000 as of June 30, 2024, compared to HKD 38,517,000 at the end of 2023, showing a slight increase of 10%[3]. - Trade receivables from margin clients increased to HKD 653,227,000 as of June 30, 2024, from HKD 636,419,000 as of December 31, 2023, representing a growth of 2.6%[24]. - Total other receivables amounted to HKD 177,394,000 as of June 30, 2024, compared to HKD 172,058,000 as of December 31, 2023, indicating an increase of 3.9%[25]. - The total amount of loans receivable was HKD 121,079,000 as of June 30, 2024, with an impairment provision of HKD 2,030,000, compared to HKD 133,125,000 and HKD 896,000 respectively as of December 31, 2023[28]. - The company reported a total of HKD 965,103,000 in receivables as of June 30, 2024, compared to HKD 953,316,000 as of December 31, 2023, reflecting a growth of 1.2%[25]. Impairment and Losses - The impairment loss on receivables for the period was HKD 24,446,000, compared to HKD 7,000,000 in the same period last year, indicating a significant increase in impairment losses[1]. - The company confirmed a provision for impairment losses of HKD 677,277,000 on trade receivables as of June 30, 2024, compared to HKD 639,948,000 as of December 31, 2023, representing an increase of 5.8%[24]. - The company has recognized an impairment provision of approximately HKD 2,000,000 for outstanding loans as of June 30, 2024, compared to HKD 900,000 as of December 31, 2023[40]. Revenue Breakdown - Interest income from margin clients amounted to HKD 35,558,000, while total interest income was HKD 42,810,000 for the six months ended June 30, 2024[14]. - The segment profit (loss) for the lending services was HKD 435,000, while the tactical and strategic investment segment reported a loss of HKD 88,152,000[10]. - The group’s segment revenue was approximately HKD 39,100,000, an increase of 32.0% from approximately HKD 29,600,000 in the previous period[37]. - Revenue from credit and lending services significantly dropped from approximately HKD 66,100,000 to about HKD 1,600,000, primarily due to a one-time bad debt recovery of HKD 42,000,000 in the previous period[39]. - The group faced significant pressure on its core business due to a volatile global environment and high interest rates, impacting revenue and profitability[36]. Dividends and Financing - 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 in 2023[22]. - The group did not declare any interim dividend for the six months ended June 30, 2024, consistent with the previous period[35]. - The company incurred financing costs of HKD 8,175,000 for the six months ended June 30, 2024, an increase from HKD 7,000,000 in the same period of 2023[18]. Corporate Governance and Future Plans - The company plans to apply for a license for leveraged foreign exchange trading under the Securities and Futures Ordinance by June 2024, with expectations of receiving formal approval by Q2 2025[38]. - The group maintained compliance with all corporate governance codes during the reporting period[60]. - The mid-term report will be published in September 2024 and sent to shareholders[63]. - The board expresses gratitude to management and employees for their contributions during the period[64].
梧桐国际(00613) - 2024 - 中期业绩