Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 365,595, an increase of 3.5% compared to HKD 353,372 for the same period in 2023[1] - Gross profit decreased to HKD 25,961, down 23.9% from HKD 34,113 in the previous year[1] - The company reported a loss before tax of HKD 18,718, compared to a loss of HKD 6,123 in the same period last year, representing a 205.5% increase in losses[1] - The total comprehensive loss attributable to owners of the company was HKD 30,877, a decrease from HKD 33,506 in the previous year[2] - Basic and diluted loss per share was HKD 0.38, compared to HKD 0.13 in the previous year, indicating a significant increase in losses per share[2] - For the six months ended June 30, 2024, the company reported a total comprehensive loss of approximately HKD 20,844,000, compared to a loss of HKD 33,506,000 for the same period in 2023, indicating a year-over-year improvement[9] - The group reported a loss before tax of HKD 22,891,000 for the six months ended June 30, 2024, compared to a loss of HKD 5,687,000 in the same period of 2023, indicating a significant increase in losses[24] - The company reported a net cash outflow from operating activities, indicating potential liquidity challenges, with current liabilities netting approximately HKD 884,986,000 as of June 30, 2024[9] Income and Gains - Other income and gains rose significantly to HKD 15,626, compared to HKD 7,761 in the prior year, marking a 101.5% increase[1] - Other income and gains increased to HKD 15,626,000 in 2024 from HKD 7,761,000 in 2023, primarily driven by higher bank interest income and government grants[28] Assets and Liabilities - Non-current assets decreased to HKD 1,310,362 from HKD 1,381,775, reflecting a decline of 5.2%[3] - Current assets decreased to HKD 795,661 from HKD 853,883, a reduction of 6.8%[3] - Total liabilities increased to HKD 1,680,647 from HKD 1,677,926, showing a slight increase of 0.1%[3] - The net asset value attributable to owners decreased to HKD 52,059 from HKD 82,936, a decline of 37%[4] - The total reported assets as of June 30, 2024, were HKD 2,071,242,000, while total liabilities were HKD 2,051,487,000, indicating a slight asset surplus[22] - Trade receivables as of June 30, 2024, were HKD 329,336,000, a decrease of 16.5% from HKD 394,453,000 as of December 31, 2023[36] - Trade payables as of June 30, 2024, were HKD 439,380,000, down 53.5% from HKD 944,651,000 as of December 31, 2023[39] - Bank loans decreased to HKD 490,838,000 as of June 30, 2024, from HKD 607,170,000 as of December 31, 2023, a reduction of 19.3%[41] - Total liabilities, including trade payables and loans, decreased to HKD 946,106,000 from HKD 1,221,696,000, a decline of 22.5%[39] Cash Flow - The net cash outflow from operating activities for the six months ended June 30, 2024, was HKD 432,958,000, significantly higher than the outflow of HKD 35,790,000 in the previous year[7] - The company generated a net cash inflow from investing activities of HKD 184,122,000 for the six months ended June 30, 2024, compared to HKD 38,756,000 in the same period of 2023[7] - Financing activities resulted in a net cash inflow of HKD 260,873,000 for the six months ended June 30, 2024, contrasting with a net outflow of HKD 88,117,000 in the previous year[7] - As of June 30, 2024, the company's cash and cash equivalents increased to HKD 16,425,000 from HKD 9,828,000 at the end of June 2023[7] Business Segments - The company reported external customer revenue of HKD 353,372,000 for the six months ended June 30, 2024, with the digital video business contributing HKD 221,159,000 and the new energy vehicle business contributing HKD 118,186,000[21] - The digital video business generated revenue of HKD 165,615,000, while the new energy vehicle charging services contributed HKD 188,615,000, and big data services accounted for HKD 2,349,000[25] - The digital video business generated revenue of approximately HKD 165,615,000, a decrease of about 25.1% from HKD 221,159,000 in the previous year[53] - The new energy vehicle business saw revenue increase to approximately HKD 188,615,000, up about 59.6% from HKD 118,186,000 year-on-year[53] - The cloud ecosystem big data business reported revenue of approximately HKD 2,349,000, an increase of about 152.04% from HKD 932,000 in the previous year[53] Investments and Future Plans - The company plans to continue investing in the new energy vehicle business and expand electric vehicle charging stations in China, aiming to become one of the largest operators in the market[54] - The board has signed a letter of intent to sell 100% equity of its wholly-owned subsidiary, indicating a strategic review of existing businesses to improve financial resources[54] - The company continues to expand its digital video and new energy vehicle businesses through subsidiaries, focusing on integrated telecommunications and smart management systems[15][16] Governance and Compliance - The company adhered to all provisions of the corporate governance code during the reporting period[59] - All directors confirmed compliance with the standard code of conduct during the six months ending June 30, 2024[58] - The audit committee reviewed the accounting principles and financial reporting matters for the six months ending June 30, 2024[60] Share Capital and Ownership - The company's total issued share capital remained at 547,200,000 shares, with a share premium of HKD 179,968,000 as of June 30, 2024[6] - As of June 30, 2024, Alpha Century Assets Limited holds 600,000,000 shares, representing 10.96% of the company's issued share capital[55] - Ms. Wang Qianfeng also holds 600,000,000 shares, equivalent to 10.96% of the company's issued share capital[55] - Data Source Technology Co., Ltd. owns 546,466,000 shares, accounting for 9.99% of the company's issued share capital[55] Dividends and Remuneration - The company did not declare any interim dividend for the six months ended June 30, 2024, consistent with the previous year[34] - Total remuneration paid to directors during the period was approximately HKD 486,000, a decrease from HKD 780,000 in the previous period[47]
久融控股(02358) - 2024 - 中期业绩