Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 87,896,000, an increase of 6.1% compared to HKD 82,396,000 for the same period in 2023[1] - Gross profit for the same period was HKD 33,682,000, representing a 15.7% increase from HKD 29,128,000 in 2023[1] - The net loss for the period was HKD 10,607,000, an improvement from a net loss of HKD 15,009,000 in the previous year, indicating a reduction of 29.9%[1] - The group reported external customer revenue of HKD 87,896 thousand for the six months ended June 30, 2024, an increase from HKD 82,396 thousand in the same period of 2023, representing a growth of approximately 6.1%[17] - The group incurred a pre-tax loss of HKD 10,607 thousand for the six months ended June 30, 2024, compared to a pre-tax loss of HKD 15,009 thousand for the same period in 2023, showing an improvement of about 29.8%[12] - The loss for the period decreased by approximately HKD 4,400,000 to about HKD 10,600,000, compared to HKD 15,000,000 for the same period in 2023[35] Expenses and Liabilities - Administrative expenses rose to HKD 19,346,000, up 54.1% from HKD 12,568,000 in the prior period[1] - Current liabilities totaled HKD 1,182,901,000, slightly up from HKD 1,163,890,000 at the end of 2023[4] - The total liabilities as of June 30, 2024, were HKD 1,206,096 thousand, up from HKD 1,188,132 thousand as of December 31, 2023, reflecting a rise of approximately 1.5%[14] - The company reported a total debt of approximately HKD 1,166,500,000 as of June 30, 2024, compared to approximately HKD 1,148,400,000 as of December 31, 2023[44] Assets and Equity - Total assets increased to HKD 101,456,000 as of June 30, 2024, compared to HKD 86,071,000 as of December 31, 2023[4] - The total trade and other payables amounted to 552,764,000 HKD as of June 30, 2024, compared to 547,345,000 HKD at the end of 2023[32] - The company’s equity attributable to owners showed a capital deficit of approximately HKD 893,900,000 as of June 30, 2024, compared to approximately HKD 890,300,000 as of December 31, 2023[43] Operational Highlights - The group processed approximately 176,200 tons of sugarcane, yielding about 11,100 tons of raw sugar and about 9,100 tons of molasses, with raw sugar production increasing by approximately 2.6%[38] - The group sold approximately 6,251 tons of raw sugar and about 10,509 tons of molasses, with revenues from raw sugar and molasses increasing by approximately JMD 145,400,000 (about HKD 5,500,000)[36] - Jamaica remains the primary market for the group, with local sales accounting for 100% of total sales during the period[39] Challenges and Future Outlook - The group faced challenges in sugarcane supply due to labor shortages and rising costs of fertilizers and pesticides, impacting overall production[38] - The sugar business segment anticipates a decrease in revenue and gross profit in the second half of 2024 due to damage from Hurricane "Beryl," which impacted sugarcane production[55] - The group plans to increase local sugar prices in Jamaica in August 2024 to address rising production costs, including labor costs[55] Cash Flow and Financial Management - The company has implemented measures to manage cash flow pressures, including obtaining a support letter from a related party to ensure no repayment of payables until the company can meet obligations to other creditors[47] - As of June 30, 2024, the company's cash and cash equivalents were approximately HKD 35,600,000, a decrease of approximately HKD 1,900,000 from HKD 37,500,000 as of December 31, 2023[46] Dividends and Investments - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[23] - The group did not make any significant investments during the periods ending June 30, 2024, and December 31, 2023[54] Compliance and Governance - The company's unaudited consolidated interim financial statements for the six months ended June 30, 2024, have been reviewed and approved by the board on August 30, 2024[62] - The audit committee confirmed that the interim financial performance is prepared in accordance with applicable accounting standards and has made appropriate disclosures[62]
华联国际(00969) - 2024 - 中期业绩