Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 281.9 million, representing a 56.9% increase from HKD 179.7 million in the same period of 2023[1] - Gross profit for the same period was HKD 30.4 million, up 51.2% from HKD 20.1 million year-on-year[1] - The net profit attributable to equity holders for the period was HKD 5.3 million, a significant turnaround from a loss of HKD 4.0 million in the previous year, marking a 232.5% improvement[1] - Basic and diluted earnings per share for the period were HKD 0.0088, compared to a loss per share of HKD 0.0066 in the prior year[2] - Operating profit for the period was HKD 7.5 million, a recovery from an operating loss of HKD 0.1 million in the same period last year[2] - The company's total revenue for the six months ended June 30, 2024, was approximately HKD 281.9 million, representing an increase of about 232.5% compared to HKD 179.7 million for the same period last year[34] - Gross profit for the same period was HKD 30.4 million, with a slight decrease in gross margin to 10.8% from 11.2% in the previous year, primarily due to increased operating costs[34] - The net profit attributable to equity holders for the six months ended June 30, 2024, was approximately HKD 5.3 million, a turnaround from a net loss of HKD 4.0 million in the same period last year[40] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 349.9 million, an increase from HKD 261.0 million as of December 31, 2023[3] - Total liabilities increased to HKD 275.3 million from HKD 191.4 million at the end of 2023, indicating a rise in financial obligations[5] - Total accounts receivable as of June 30, 2024, amounted to HKD 103,133,000, an increase from HKD 62,514,000 as of December 31, 2023[27] - Accounts receivable rose from approximately HKD 51.6 million as of December 31, 2023, to approximately HKD 95.0 million as of June 30, 2024, consistent with the increase in revenue[42] - Inventory balance increased from approximately HKD 43.3 million as of December 31, 2023, to approximately HKD 93.0 million as of June 30, 2024, leading to an increase in inventory turnover days to 49 days[41] - Accounts payable increased from approximately HKD 69.5 million to approximately HKD 143.9 million, with turnover days rising to 77 days due to delayed payments to suppliers[44] Cash Flow and Liquidity - The company’s cash and cash equivalents stood at HKD 104.3 million, up from HKD 96.2 million at the end of 2023[3] - As of June 30, 2024, the group maintained a healthy liquidity position with cash and cash equivalents amounting to approximately HKD 104.3 million, including HKD 67.6 million in HKD, RMB 31.5 million, and USD 4.3 million[46] - The current ratio as of June 30, 2024, was approximately 1.2, consistent with December 31, 2023[46] - Bank borrowings as of June 30, 2024, were approximately HKD 93.7 million, a decrease from HKD 96.5 million as of December 31, 2023, with all borrowings subject to repayment terms[45] Operational Insights - The group recognized revenue of approximately HKD 1,009,000,000 related to contract liabilities as of January 1, 2024, compared to HKD 524,000,000 in 2023[13] - Major customers contributing over 10% of total revenue included Customer A with HKD 156,810,000 and Customer B with HKD 85,712,000 for the six months ended June 30, 2024[13] - Total employee costs for the group were approximately HKD 38.9 million for the six months ended June 30, 2024, compared to HKD 30.8 million for the same period last year, reflecting a year-on-year increase of about 26.4%[51] - The group plans to enhance product innovation and improve operational efficiency to shorten delivery times and reduce costs in the second half of 2024[59] Risk Management - The group faced various financial risks, including market risk, credit risk, and liquidity risk, which are detailed in the annual financial statements[12] - The group has not utilized any financial instruments to hedge foreign currency risks as of June 30, 2024[48] Corporate Governance - An audit committee has been established, consisting of four independent non-executive directors, with Mr. Huang Dinggan as the chairman[63] - The unaudited condensed interim financial statements for the six months ending June 30, 2024, have been reviewed by the audit committee, which believes they are prepared in accordance with applicable accounting standards[63] - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors until June 30, 2024[62] Dividend and Shareholder Information - The group did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[25] - The board has decided not to declare an interim dividend for the six months ending June 30, 2024[63] - The interim report will be published on the company's website at an appropriate time[64]
迅捷环球控股(00540) - 2024 - 中期业绩