Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 114,916,000, a decrease of 29.4% compared to HKD 162,597,000 for the same period in 2023[1] - Gross profit for the same period was HKD 8,346,000, down 26.5% from HKD 11,352,000 in 2023[1] - The net profit for the period was HKD 1,312,000, a decline of 56.5% from HKD 3,012,000 in the previous year[1] - Basic earnings per share decreased to HKD 0.09 from HKD 0.20, representing a 55% drop[1] - The group reported a profit before tax of HKD 1,571 thousand for the six months ended June 30, 2024, compared to HKD 3,012 thousand for the same period in 2023, representing a decrease of 47.8%[12] - Profit and total comprehensive income for the six months ended June 30, 2024, was approximately HKD 1.3 million, down from HKD 3.0 million in the same period last year[42] Revenue Breakdown - Revenue from the building services engineering segment was HKD 108,920 thousand, down 29.4% from HKD 154,433 thousand year-on-year[12] - Maintenance, repair, and other services generated revenue of HKD 5,996 thousand, a decline of 26.7% from HKD 8,164 thousand in the previous year[12] - Revenue decreased from approximately HKD 162.6 million for the six months ended June 30, 2023, to approximately HKD 114.9 million for the six months ended June 30, 2024, representing a decline of about 29.3%[36] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 268,515,000, a slight decrease from HKD 284,307,000 as of December 31, 2023[2] - Trade receivables and other receivables decreased to HKD 92,296,000 from HKD 121,948,000, a reduction of 24.3%[2] - Current liabilities decreased to HKD 125,799,000 from HKD 143,588,000, a decline of 12.4%[2] - Total trade payables and other payables amounted to HKD 105,540 thousand as of June 30, 2024, down 26.5% from HKD 143,588 thousand as of December 31, 2023[28] - The net amount of trade receivables as of June 30, 2024, was HKD 40,301 thousand, a decrease of 27.3% from HKD 55,403 thousand as of December 31, 2023[27] Cash Flow and Financial Health - The company reported a net cash inflow from operating activities of HKD 42,413,000 for the period[5] - Cash and cash equivalents increased significantly to HKD 80,292,000 from HKD 45,756,000, marking a 75.4% increase[2] - The current ratio as of June 30, 2024, was approximately 2.1 times, compared to 2.0 times as of December 31, 2023[43] - The debt-to-equity ratio as of June 30, 2024, was 13.1%, compared to zero as of December 31, 2023[44] Share Capital and Dividends - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[20] - As of June 30, 2024, the company's issued share capital was HKD 14,975,200, with a total of 1,497,520,000 shares issued, down from HKD 15,227,700 and 1,522,770,000 shares as of December 31, 2023[48] - The company repurchased a total of 38,270,000 shares during the relevant period, with 25,250,000 shares canceled in April 2024[48] - The company did not declare any interim dividends for the reporting period[68] Employee and Operational Metrics - Employee costs for the six months ended June 30, 2024, amounted to approximately HKD 30.6 million, an increase from HKD 28.7 million for the same period in 2023[50] - The company employed a total of 119 employees as of June 30, 2024, down from 132 employees as of December 31, 2023[50] Corporate Governance and Compliance - The audit committee reviewed the unaudited condensed consolidated financial statements, ensuring compliance with applicable accounting standards and disclosure requirements[72] - The company has maintained compliance with the corporate governance code throughout the reporting period[66] - No significant events requiring disclosure occurred after the reporting period[71] Capital Expenditure and Investments - The company did not incur any capital expenditure for property, plant, and equipment during the reporting period, compared to HKD 2,780 thousand in the same period of 2023[24] - The company did not have any major investments or capital asset plans as of June 30, 2024[50] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the relevant period[50] - The company reported no contingent liabilities as of June 30, 2024[50]
立基工程控股(01690) - 2024 - 中期财报