Financial Performance - The company recorded revenue of HKD 30.7 million for the six months ended June 30, 2024, compared to HKD 20.6 million in 2023, representing a growth of 48.8%[3] - Gross profit for the same period was HKD 10.8 million, with a gross margin of 35.1%, down from HKD 11.4 million and 55.3% in 2023[3] - The consolidated loss attributable to the company was HKD 6.1 million, an increase from HKD 3.4 million in 2023, primarily due to fair value losses on financial assets[3] - Revenue for the six months ended June 30, 2024, was HKD 30,704,000, an increase of 49.1% compared to HKD 20,599,000 for the same period in 2023[18] - Gross profit for the same period was HKD 10,790,000, a decrease of 5.3% from HKD 11,393,000 in 2023[18] - The company reported a loss before tax of HKD 4,793,000 for the six months ended June 30, 2024, compared to a loss of HKD 2,658,000 in 2023[18] - Total comprehensive loss for the period was HKD 6,093,000, compared to a loss of HKD 3,401,000 in the previous year[18] - The company reported a net cash outflow from operating activities of HK$11,513,000 for the six months ended June 30, 2024, compared to HK$5,109,000 in the same period of 2023[22] - The company recorded a loss before tax of HK$4,793,000 for the six months ended June 30, 2024, compared to a profit of HK$7,995,000 in the same period of 2023[27] - The company reported a basic and diluted loss per share of HK$0.0187 for the six months ended June 30, 2024, compared to HK$0.0119 in the same period of 2023[36] Assets and Liabilities - As of June 30, 2024, total assets were HKD 50.1 million, down from HKD 56.1 million at the end of 2023, while total liabilities increased to HKD 330.0 million from HKD 323.9 million[4] - The company had a cash and bank balance of HKD 4.1 million, a decrease from HKD 8.1 million at the end of 2023[4] - Non-current assets as of June 30, 2024, totaled HKD 9,278,000, a decrease from HKD 20,975,000 as of December 31, 2023[20] - Current assets increased to HKD 40,854,000 as of June 30, 2024, compared to HKD 35,098,000 at the end of 2023[20] - Current liabilities amounted to HKD 380,086,000 as of June 30, 2024, slightly up from HKD 376,688,000 at the end of 2023[20] - The company had a net current liability of HK$339.2 million and a net liability of HK$330.0 million as of June 30, 2024, raising significant doubts about its ability to continue as a going concern[24] - Total borrowings as of June 30, 2024, were HKD 234,520,000, up from HKD 229,985,000 as of December 31, 2023, indicating a 2% increase[40] - The company has issued bonds totaling HKD 60,818,000 due within one year, unchanged from December 31, 2023[41] - The company’s total borrowings include principal amounts of HKD 200,900,000, with interest rates ranging from 2% to 8.5%[40] Operational Insights - The company plans to focus on improving business models, increasing market penetration, and expanding product range to achieve organic growth despite economic challenges[5] - No significant capital raising activities or major investments were completed in the six months ended June 30, 2024[6] - The company continues to monitor foreign exchange risks closely, as its operations are primarily denominated in HKD[7] - The company has successfully implemented measures to alleviate uncertainties regarding its going concern status, including extending a loan repayment date by six months[24] - The company successfully implemented a plan to distribute cash to creditors as of the report date[43] - An agreement was made to extend the maturity date of a HKD 15,000,000 loan by six months to March 31, 2025[43] Employee and Governance - The company has 21 employees as of June 30, 2024, down from 22 at the end of 2023[8] - The company is committed to maintaining high standards of corporate governance, having complied with the relevant codes during the reporting period[16] Trade and Receivables - Trade receivables as of June 30, 2024, amounted to HKD 9,087,000, compared to HKD 7,108,000 as of December 31, 2023, representing a 28% increase[38] - The aging analysis of trade receivables shows that amounts overdue by 0-30 days increased from HKD 506,000 to HKD 950,000, a rise of 88%[38] - Trade payables as of June 30, 2024, totaled HKD 2,190,000, with no previous amounts reported as of December 31, 2023[39] Other Financial Metrics - The company incurred total depreciation expenses of HK$427,000 for the six months ended June 30, 2024, down from HK$662,000 in the same period of 2023[34] - Interest income from bank balances was nil for the six months ended June 30, 2024, compared to HK$153,000 in the same period of 2023[31] - The company did not recommend an interim dividend for the six months ended June 30, 2024, consistent with the previous year[35] - Total equity attributable to owners was HKD (329,954,000) as of June 30, 2024, compared to HKD (323,861,000) at the end of 2023[21]
京玖康疗(00648) - 2024 - 中期财报