Financial Performance - For the six months ended June 30, 2024, the company reported a loss of HK$38,799,000, compared to a loss of HK$21,015,000 for the same period in 2023, representing an increase in loss of approximately 84.6%[3] - Revenue for the period was HK$17,198,000, a decrease of 57.8% from HK$40,779,000 in the previous year[4] - The company reported a loss before tax of HK$38,799,000 for the six months ended June 30, 2024, compared to a profit in the same period of 2023[16] - The total comprehensive loss for the period was HK$38,799,000, reflecting the company's financial challenges[16] - The company reported a basic and diluted loss per share of HK$0.0252 for the six months ended 30 June 2024, compared to HK$0.0136 for the same period in 2023[29] Assets and Liabilities - The company's total assets less current liabilities decreased to HK$206,476,000 from HK$243,274,000, a decline of approximately 15.1%[6] - Net current assets decreased to HK$203,452,000 from HK$242,936,000, a reduction of about 16.2%[6] - Total equity decreased to HK$204,475,000 from HK$243,274,000, a decline of approximately 15.9%[6] - Cash and cash equivalents at the end of the period were HK$19,162,000, down from HK$32,714,000 at the end of June 2023[9] - The total market value for financial assets at FVTPL as of June 30, 2024, was approximately HK$39.1 million, down from HK$78.3 million as of December 31, 2023[56] Revenue Segments - The segment revenue from trading of used computer-related components, clothes, and beauty products was HK$11,036,000, while the money lending business generated HK$6,117,000[16] - Money lending segment revenue was HK$5,027,000 for the six months ended 30 June 2024, down from HK$1,008,000 in the same period of 2023, indicating a decline in this segment[17] - Interest income from the money lending business was approximately HK$6.1 million for the six months ended June 30, 2024[44] Cash Flow - Net cash used in operating activities was HK$1,427,000 for the six months ended June 30, 2024, a significant decrease from HK$6,865,000 in 2023[9] - The company reported a net decrease in cash and cash equivalents of HK$2,359,000 for the period[9] - The cash generated from investing activities was HK$8,000, compared to HK$5,000 in the previous year[9] Financial Assets - The company reported unrealized losses on financial assets at fair value through profit or loss of HK$30,655,000, compared to HK$20,205,000 in the previous year, an increase of 51.1%[4] - The unrealized loss on financial assets at FVTPL for the six months ended June 30, 2024, was approximately HK$30.7 million, an increase from HK$20.2 million for the same period in 2023[56] - The group recognized a realized loss on financial assets at FVTPL of approximately HK$8.8 million for the six months ended June 30, 2024, compared to HK$0 for the same period in 2023[56] Share Capital and Dividends - The Company has a total authorized share capital of HK$600,000,000, with 100,000,000,000 ordinary shares at HK$0.006 per share[43] - As of 30 June 2024, the issued and fully paid ordinary shares amounted to 1,538,536,566, totaling HK$9,231,000[43] - The Company did not pay or propose any dividends during the six months ended 30 June 2024 and 2023[30] Strategic Adjustments - The Board has resolved to withdraw the License application due to substantial changes in the virtual assets business landscape in Hong Kong[51] - The Board believes that resources should be concentrated on existing businesses with stable growth, such as clothing and beauty products, rather than the virtual asset platform[53] - The adjustment in business strategy aims to enhance the capability to create value for shareholders by integrating resources and exercising cost control[54] - The board confirmed that the nature of the group's business has not changed significantly, and reallocating unutilized funds will enhance long-term business performance[55] Employee and Director Information - The Group's emolument policies are based on employee performance and market conditions, with discretion to grant share options as incentives[60] - As of June 30, 2024, no Directors or chief executive had interests in the shares or debentures of the Company[62] - Since the adoption of the 2021 Share Option Scheme, no share options were granted, exercised, or outstanding as of June 30, 2024[62] Market Conditions - The Company observed a shift in customer preferences towards more reliable and secure virtual asset services amid increasing market competition[53] - The board emphasizes the importance of resource integration and timely adjustments to business strategies to enhance shareholder value[55]
新确科技(01063) - 2024 - 中期业绩