Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 96,750,000, an increase of 21.2% compared to HKD 79,802,000 for the same period in 2023[4] - The net loss for the period was HKD 35,143,000, compared to a net loss of HKD 20,274,000 in the previous year, representing an increase in loss of 73.5%[5] - Basic and diluted loss per share for the six months ended June 30, 2024, was HKD (15.26), compared to HKD (8.83) for the same period in 2023[6] - Total comprehensive expenses for the period amounted to HKD 36,178,000, compared to HKD 15,607,000 in the previous year, indicating a significant increase of 131.5%[5] - The company reported a net other losses of HKD (52,729,000) for the period, significantly higher than HKD (12,793,000) in the previous year, indicating a deterioration in financial performance[4] - The group reported a loss before tax of HKD 35,143, impacted by a fair value loss of HKD 43,230 on financial assets[18] - The company reported a pre-tax loss of HKD 20,274,000 for the six months ended June 30, 2024, compared to a pre-tax loss of HKD 5,557,000 in the previous year[19] - The fair value change of financial assets through profit or loss resulted in a loss of HKD 43,230,000 for the current period, compared to a loss of HKD 15,374,000 in the previous period[22] - The group recorded a loss of approximately HKD 35.1 million for the six months ended June 30, 2024, compared to a loss of HKD 19.3 million in 2023, primarily due to a fair value loss of HKD 43.2 million on financial assets[41] Revenue Breakdown - Revenue from medical products reached HKD 36,286, up from HKD 35,447 in the previous year, indicating a growth of approximately 2.4%[17] - The group’s revenue from the lending business and other financial services was HKD 48,755, contributing significantly to overall revenue[18] - Total revenue for the group was HKD 96,750, compared to HKD 79,802 in the previous year, reflecting a growth of 21.2%[17] - Sales revenue from medical products for the six months ended June 30, 2024, was approximately HKD 36.3 million, an increase of about 2.4% compared to the same period in 2023[38] - Sales revenue from plastic toys decreased by approximately 2.2% to about HKD 1.8 million, mainly due to a reduction in orders from Chinese customers[38] - Interest income from loans and financing leases for the six months ended June 30, 2024, was approximately HKD 48.8 million, representing about 50.4% of the total revenue, compared to HKD 31.8 million in 2023[39] Cash Flow and Assets - For the six months ended June 30, 2024, the net cash generated from operating activities was HKD 105,666, compared to HKD 18,569 for the same period in 2023, representing a significant increase[11] - The net cash used in investing activities was HKD 519, a significant improvement from a cash outflow of HKD 14,781 in the previous year[11] - The net cash used in financing activities was HKD 100,399, compared to HKD 12,427 in the same period last year, indicating increased financing activities[11] - The total cash and cash equivalents as of June 30, 2024, stood at HKD 132,573, down from HKD 171,140 in the previous year[11] - As of June 30, 2024, the group's cash and cash equivalents increased by approximately HKD 4.8 million to about HKD 132.6 million compared to HKD 127.8 million on December 31, 2023[42] - Current assets decreased to HKD 1,164,973,000 as of June 30, 2024, down from HKD 1,301,062,000 at the end of 2023, a decline of 10.5%[8] - Trade and other receivables totaled HKD 86,823,000 as of June 30, 2024, down from HKD 150,596,000 as of December 31, 2023[25] - The total amount of loans receivable as of June 30, 2024, was HKD 978,564,000, a decrease from HKD 1,049,055,000 as of December 31, 2023[29] - The company reported an expected credit loss provision of HKD 512,872,000 for loans receivable as of June 30, 2024, unchanged from the previous year[29] - The net current assets of the group were approximately HKD 737.7 million as of June 30, 2024, down from HKD 873.5 million in 2023, with a current ratio of about 2.7[42] Liabilities and Financial Management - Total liabilities as of June 30, 2024, were HKD 812,671,000, compared to HKD 949,456,000 at the end of 2023, reflecting a decrease of 14.4%[8] - The total amount of bonds payable as of June 30, 2024, was HKD 640.2 million, down from HKD 740.2 million as of December 31, 2023[34] - The group’s total liabilities decreased from HKD 740.2 million in 2023 to HKD 640.2 million as of June 30, 2024, resulting in a debt-to-equity ratio of approximately 163.3%[42] - The company’s financial expenses related to bonds amounted to HKD 13,361,000 for the current period, down from HKD 30,261,000 in the previous period[22] - Trade payables increased to HKD 43.7 million as of June 30, 2024, from HKD 21.0 million as of December 31, 2023[32] - The total trade payables from the medical products and plastic toys business amounted to HKD 25.7 million as of June 30, 2024, compared to HKD 13.2 million in 2023[33] Dividends and Investments - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with no dividend in the previous year[23] - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[49] - There were no significant investments or capital asset plans as of June 30, 2024, and no major acquisitions or disposals during the reporting period[52] Future Plans and Risk Management - The company plans to expand its financial services in Hong Kong and China, focusing on existing businesses and exploring potential investment opportunities[40] - The group has not adopted new accounting standards that are expected to have a significant impact on its financial performance[14] - The group has no pledged assets as of June 30, 2024, maintaining a conservative financial management policy[44] - The group has not established any hedging policies to mitigate foreign exchange risks, although management will continue to assess these risks[45] - The group faced stock price risk due to investments in listed securities, with no current hedging policies in place[46] - As of June 30, 2024, there were no significant contingent liabilities reported by the company[47] Employee Information - The group employed a total of 159 employees as of June 30, 2024, with 146 based in China and the remainder in Hong Kong[48]
隆成金融(01225) - 2024 - 中期业绩