Financial Performance - For the six months ended June 30, 2024, the group's unaudited revenue was approximately HKD 312.1 million, an increase of about 5.7% compared to approximately HKD 295.3 million for the same period last year[1]. - The profit attributable to the owners of the company for the same period was approximately HKD 18 million, a significant recovery from a loss of approximately HKD 48.8 million for the six months ended June 30, 2023[1]. - The basic earnings per share for the six months ended June 30, 2024, was approximately HKD 1.46, compared to a loss per share of approximately HKD 9.92 for the same period last year[1]. - Gross profit for the six months ending June 30, 2024, was HKD 27,255,000, down from HKD 42,807,000 in the previous year[16]. - The segment performance showed a profit of HKD 17,583,000 for the six months ended June 30, 2024, compared to HKD 34,636,000 in the previous year, indicating a decline of about 49.3%[29][30]. - The company reported a net profit of HKD 1,950,000 for the period, a recovery from a loss of HKD 46,892,000 in the same period of 2023[17]. - The company reported a profit attributable to shareholders of HKD 17,995,000 for the six months ended June 30, 2024, compared to a loss of HKD 48,804,000 in the same period of 2023[43]. Revenue Breakdown - Revenue from the media entertainment platform segment increased by approximately 31.1%, reaching about HKD 70.3 million compared to approximately HKD 53.6 million for the same period last year[5]. - Revenue from other multimedia products decreased by approximately 12.7%, amounting to about HKD 43.5 million compared to approximately HKD 49.8 million for the six months ended June 30, 2023[7]. - Revenue from the satellite television equipment and antenna products segment was approximately HKD 198.3 million, an increase from approximately HKD 191.9 million for the same period last year[9]. - The Asia segment generated revenue of approximately HKD 63,900,000, up 46.0% from HKD 43,800,000 in the previous year, accounting for 20.5% of total revenue[10]. - The North America segment reported revenue of approximately HKD 189,200,000, an increase of 2.7% from HKD 184,200,000, representing 60.6% of total revenue[13]. - The Middle East segment saw a revenue increase of 60.0%, reaching approximately HKD 8,000,000 compared to HKD 5,000,000 in the previous year, contributing 2.6% to total revenue[12]. - The Europe segment's revenue slightly decreased by 0.9% to approximately HKD 44,000,000, accounting for 14.1% of total revenue[11]. - The South America segment experienced a significant decline of 60.2%, with revenue dropping to approximately HKD 6,800,000 from HKD 17,100,000, representing 2.2% of total revenue[14]. Cost and Expenses - The group's gross profit margin decreased from 14.49% for the six months ended June 30, 2023, to 8.73% for the six months ended June 30, 2024, due to rising material costs and a global shortage of chips and integrated circuits[4]. - Other income, gains, and losses totaled HKD 16,738,000 for the current period, down from HKD 22,930,000 in the prior period, reflecting a decrease of approximately 26.9%[32]. - The total administrative and other expenses were HKD 57,447,000, an increase from HKD 40,439,000 in the previous year, representing a rise of approximately 42.1%[29][30]. - Research and development costs amounted to HKD 8,920,000 for the current period, a decrease from HKD 12,338,000 in the previous year, showing a reduction of about 27.5%[29][30]. - The financial costs incurred were HKD 13,463,000 for the current period, compared to HKD 14,872,000 in the previous year, reflecting a decrease of about 9.5%[29][30]. Assets and Liabilities - As of June 30, 2024, the company had a net debt of approximately HKD 40,901,000[22]. - The total non-current liabilities decreased from HKD 394,536,000 as of December 31, 2023, to HKD 265,470,000 as of June 30, 2024[22]. - The company has outstanding bank and other borrowings of HKD 200,238,000 due within the next twelve months[22]. - The capital deficit attributable to shareholders was HKD 51,332,000 as of June 30, 2024[22]. - The company's receivables from an associate totaled HKD 56,672,000 as of June 30, 2024, compared to HKD 56,263,000 at the end of 2023[49]. - The total amount of loans receivable from a subsidiary was approximately HKD 429,000,000 after deducting expected credit loss provisions[46]. - The expected credit loss provision for trade receivables was HKD 1,603,000 for the six months ended June 30, 2024, compared to HKD 4,391,000 for the same period in 2023[48]. Future Plans and Developments - The company is developing new 5G-related products, including next-generation radio frequency channels and antenna products, to capitalize on market opportunities[3]. - The company is actively seeking to enhance investment returns from its properties in Guangdong, China, through redevelopment into a precision smart manufacturing center and R&D innovation center[3]. - The company plans to focus on business expansion in Asia, Europe, and North America, which account for the majority of its revenue[15]. - The company plans to continue as a going concern based on cash flow forecasts and available financial resources[23]. Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the six months ending June 30, 2024, and believes they fairly present the group's financial position and performance[73]. - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial performance or position during the reporting period[24]. - The group did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[61].
圣马丁国际(00482) - 2024 - 中期业绩