Financial Performance - The unaudited revenue for the six months ended June 30, 2024, was HK$18,676,000, a decrease of 2.45% compared to HK$19,145,000 in the same period of 2023[8]. - The cost of sales increased to HK$14,723,000, up from HK$11,961,000, resulting in a gross profit of HK$3,953,000, down from HK$7,184,000[8]. - The loss before income tax for the period was HK$6,000,000, an improvement from a loss of HK$13,186,000 in the previous year[8]. - The total comprehensive expenses for the period amounted to HK$6,990,000, compared to HK$11,119,000 in the same period of 2023[9]. - Basic loss per share for the six months was HK$4.07, improved from HK$8.94 in the previous year[10]. - The Group's total profit for the reporting period was HK$805,000, compared to a profit of HK$2,130,000 in the same period of 2023[30]. - The Group's loss before income tax for the reportable segment was HK$805,000 in 2024, compared to a profit of HK$2,130,000 in 2023, indicating a significant shift in performance[32]. - Loss for the Half-Yearly Period attributable to owners of the Company was approximately HK$6,000,000, compared with a loss of approximately HK$13,186,000 for the same period in 2023[73]. Revenue Breakdown - The Travel Media segment generated revenue of HK$240,000, down 85% from HK$1,600,000 in 2023[26]. - The Financial Magazine and Other Media Business saw an increase in revenue to HK$18,000,000, up 5.9% from HK$17,000,000 in 2023[26]. - Revenue from the money lending business was approximately HK$436,000, representing about 2.3% of the Group's total revenue for the half-year period[80]. - Revenue from the financial magazine and other media business was approximately HK$18,000,000, accounting for 96.4% of the Group's total revenue during the reporting period, with a segmental gain of HK$1,274,000[78]. - The Travel Media Business recorded a revenue of approximately HK$240,000, a decrease of approximately 85% compared to approximately HK$1,600,000 for the same period in 2023[74]. Expenses and Cost Management - Administrative expenses decreased to HK$2,718,000 from HK$10,988,000, indicating a significant reduction in overhead costs[8]. - Selling and distribution expenses decreased by approximately 88% to approximately HK$1,098,000 for the Half-Yearly Period, compared to approximately HK$9,140,000 for the same period in 2023[67]. - Other loss (net) amounted to approximately HK$6,137,000 for the Half-Yearly Period, compared to a loss of approximately HK$242,000 for the same period in 2023[66]. Assets and Liabilities - As of June 30, 2024, the company's current assets decreased to HK$76,484,000 from HK$79,553,000 as of December 31, 2023, representing a decline of approximately 3.4%[11]. - The accounts receivable increased significantly to HK$45,142,000, up from HK$30,852,000, marking a growth of approximately 46.5%[11]. - The total equity attributable to owners of the company decreased to HK$44,594,000 from HK$51,584,000, reflecting a decline of about 13.5%[12]. - The company's net current assets decreased to HK$39,289,000 from HK$46,038,000, indicating a reduction of approximately 14.8%[12]. - The share premium and reserves dropped to HK$38,692,000 from HK$45,682,000, a decrease of around 15.3%[12]. - The total assets less current liabilities decreased to HK$44,594,000 from HK$51,584,000, showing a decline of approximately 13.5%[12]. - The bank balances and cash decreased to HK$10,713,000 from HK$21,122,000, a decline of approximately 49.3%[11]. - The company's total liabilities increased to HK$37,195,000 from HK$33,515,000, reflecting an increase of about 5.0%[11]. Market Conditions and Future Outlook - The market remains soft, with advertising and promotional spending still lagging, impacting future growth prospects[99]. - The market remains weak and has not fully recovered to pre-pandemic levels, with advertising and promotional spending still lagging behind[102]. - The company will continue to focus on financial magazines and other media businesses to drive growth, while closely monitoring performance in mainland China, Hong Kong, and East Asia[102]. - The company plans to adjust its business strategy and concentrate resources on units with greater growth potential[102]. - The Group intends to allocate more resources to more profitable segments[74]. Corporate Governance and Compliance - The board of directors confirmed the accuracy and completeness of the financial information presented in the report[4]. - The company has complied with the applicable code provisions in the Corporate Governance Code throughout the half-yearly period[118]. - The audit committee has reviewed the accounting principles and practices adopted by the Group and the unaudited condensed consolidated financial statements for the Half-Yearly Period[124]. Employee and Operational Changes - As of June 30, 2024, the Group employed 27 full-time employees, a decrease from 42 in 2023[98]. - The Group's operations and workforce are primarily located in Singapore and Hong Kong, with no revenue reported from Singapore or the PRC for the current period[35][36].
华泰瑞银(08006) - 2024 - 中期业绩