Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 274.7 million, a decrease of 10.6% compared to HKD 307.2 million in the same period of 2023[1] - Gross profit for the same period was HKD 70.2 million, with a gross margin of 25.5%, down from 30.3% in 2023[1] - The company reported a loss of HKD 39.4 million for the period, compared to a loss of HKD 22.9 million in the previous year[1] - The adjusted loss was HKD 6.2 million, a significant decline from an adjusted profit of HKD 18.0 million in the same period last year[1] - Revenue for the period was approximately HKD 274,735,000, a decrease of about HKD 32,494,000 or 10.6% compared to the same period in 2023[8] - Gross profit for the period was approximately HKD 70,173,000, down by about HKD 23,005,000 or 24.7% year-on-year, resulting in a gross margin of 25.5%[8] - Operating loss for the period was HKD 15,633,000, compared to an operating profit of HKD 13,535,000 in the previous year[26] - The company recorded a net loss of HKD 39,355,000 for the six months ended June 30, 2024, compared to a net loss of HKD 22,925,000 for the same period in 2023[35] - The company reported a loss attributable to owners of HKD (39,194) for the six months ended June 30, 2024, compared to a loss of HKD (23,656) in the same period of 2023[48] - Basic and diluted loss per share for the period was HKD 0.81, compared to HKD 0.54 in the previous year[27] Operational Developments - The company expanded its core maternity service business to 21 stores across 12 cities, up from 18 stores in the previous year[6] - The company opened new maternity centers in Foshan and Chongqing, continuing its "Five-Year, Fifty Cities" strategy to increase market coverage[7] - The company noted a decline in customer spending power and increased competition in the maternity service industry[2] - The company aims to improve operational efficiency and reduce costs through business model optimization[3] Financial Management - The company implemented a rights issue financing plan to address external debt issues, which received strong support from shareholders[3] - Administrative expenses increased to approximately HKD 35,578,000, an increase of about HKD 4,947,000 or 16.2% compared to the same period in 2023, primarily due to the execution of the "Five-Year Fifty Cities Plan"[9] - Sales and distribution expenses decreased to approximately HKD 57,213,000, a reduction of about HKD 1,546,000 or 2.6% year-on-year, attributed to innovative marketing strategies[10] - Financial costs decreased to approximately HKD 24,059,000, down by about HKD 7,883,000 or 24.7% compared to the same period in 2023[11] - The group maintained a cautious financial management strategy, with most cash held in major financial institutions in mainland China[25] Assets and Liabilities - The company's net asset value as of June 30, 2024, was approximately HKD 757,907,000, an increase of about HKD 1,958,000 from December 31, 2023[16] - The current ratio as of June 30, 2024, was 1.07, compared to 1.16 as of December 31, 2023[16] - Non-current assets decreased from HKD 1,513,268,000 as of December 31, 2023, to HKD 1,442,891,000 as of June 30, 2024, reflecting a decline of 4.7%[28] - Current assets increased slightly from HKD 446,899,000 as of December 31, 2023, to HKD 450,596,000 as of June 30, 2024, an increase of 0.6%[28] - The company's total equity attributable to owners increased from HKD 737,702,000 as of December 31, 2023, to HKD 740,534,000 as of June 30, 2024, a rise of 0.4%[29] - The company’s non-current liabilities decreased from HKD 819,790,000 as of December 31, 2023, to HKD 713,999,000 as of June 30, 2024, a reduction of 12.9%[29] - Total assets as of June 30, 2024, amounted to HKD 1,893,487, a decrease from HKD 1,960,167 as of December 31, 2023[36][37] - Total liabilities as of June 30, 2024, were HKD 1,135,580, compared to HKD 1,204,218 as of December 31, 2023[36][37] Market Outlook - The overall external environment for the maternity industry is expected to improve in 2024, influenced by government policies and a potential rebound in birth rates[2] Corporate Governance - The company has adhered to the corporate governance code throughout the reporting period, ensuring compliance with the principles outlined in the listing rules[54] - The audit committee reviewed the interim results, confirming compliance with relevant accounting standards and appropriate disclosures[57]
爱帝宫(00286) - 2024 - 中期业绩