Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 843,020,000, a decrease of 17.3% from HKD 1,018,386,000 in the same period of 2023[16] - The operating loss for the period was HKD 18,228,000, compared to a loss of HKD 3,784,000 in the previous year, indicating a significant decline in profitability[17] - The company reported a basic and diluted loss per share of HKD 3.83, compared to HKD 0.79 in the previous year, highlighting increased financial strain[17] - The company reported a total comprehensive loss of HKD (22,955,000) for the six months ended June 30, 2024, compared to a loss of HKD (3,784,000) in the same period of 2023[21] - The company reported a loss of HKD 13,545,000 for the reporting period, compared to a profit of HKD 4,009,000 in the previous year[36] Revenue Breakdown - Revenue from automobile sales was HKD 568,503,000, down 19.8% from HKD 709,707,000 year-on-year[32] - Revenue from automobile services and parts sales was HKD 260,644,000, a decrease of 11.0% compared to HKD 293,230,000 in the previous year[32] - Other income totaled HKD 57,611,000, an increase of 30.4% from HKD 44,170,000 in the same period last year[33] - Revenue from the Hong Kong car rental business was HKD 10,002,000, a decrease of 9.8% compared to the previous year, due to unfavorable economic conditions and a decline in inbound tourist numbers[87] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 1,396,097,000, an increase from HKD 1,293,109,000 as of December 31, 2023[18] - Current liabilities decreased to HKD 968,590,000 from HKD 853,595,000 at the end of 2023, reflecting improved liquidity management[19] - The net asset value as of June 30, 2024, was HKD 743,058,000, down from HKD 766,013,000 at the end of 2023[19] - Total liabilities increased to HKD 1,095,666 from HKD 992,873 in the previous period[47] Cash Flow - For the six months ended June 30, 2024, the company reported a net cash outflow from operating activities of HKD (157,221,000), compared to a net inflow of HKD 27,048,000 for the same period in 2023[23] - The company experienced a net cash outflow from investing activities of HKD (11,080,000) for the six months ended June 30, 2024, compared to HKD (12,265,000) in the previous year[23] - Financing activities generated a net cash inflow of HKD 123,308,000 in the first half of 2024, a significant increase from a net outflow of HKD (62,141,000) in the same period of 2023[23] Market and Strategic Focus - The company plans to focus on market expansion and new product development to drive future growth[16] - The competitive environment in the Chinese passenger car market is expected to remain intense throughout the second half of 2024, with BMW lowering sales targets to alleviate dealer pressure, but without positive results[107] - The group continues to focus on profitable after-sales business as a key strategy moving forward[107] Corporate Governance - The company is currently non-compliant with GEM Listing Rules regarding the number of independent non-executive directors following the resignation of a director due to health issues[108] - The company has adopted a code of conduct for directors regarding securities transactions, ensuring compliance with GEM Listing Rules[119] - The company has adhered to the corporate governance code as outlined in the GEM Listing Rules during the reporting period[120] Shareholder Information - Major shareholder Loh & Loh Construction Group Ltd. holds 9.51% of the company, while the largest shareholder, 罗爾平, holds 22.63%[111] - No share options were granted under the share option scheme during the six months ended June 30, 2024[116] Other Financial Metrics - Employee benefits expenses rose to HKD 4,525, compared to HKD 3,732 in the prior year[49] - Advertising and promotional expenses decreased to HKD 2,510 from HKD 3,516 year-on-year[49] - The company did not recommend an interim dividend for the six months ended June 30, 2024, consistent with the previous year[56]
G.A.控股(08126) - 2024 - 中期财报