Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 1,360,635 thousand, a decrease of 24.7% compared to HKD 1,807,007 thousand for the same period in 2023[12] - Gross profit for the same period was HKD 567,368 thousand, down 32.4% from HKD 840,667 thousand in 2023[3] - Operating profit decreased to HKD 354,569 thousand, a decline of 44.4% from HKD 636,615 thousand in the previous year[3] - Net profit for the period was HKD 308,772 thousand, representing a 44.0% decrease from HKD 551,366 thousand in 2023[4] - Basic earnings per share for the six months ended June 30, 2024, was HKD 15.25, down from HKD 27.24 in the same period last year[4] - Profit attributable to equity holders for the same period was HKD 309.5 million, down 44.0% year-on-year, with basic earnings per share at 15.25 HK cents (2023: 27.24 HK cents)[24][20] Assets and Liabilities - Total assets as of June 30, 2024, increased to HKD 4,458,193 thousand from HKD 4,326,786 thousand at the end of 2023[7] - Non-current assets rose to HKD 1,197,390 thousand, compared to HKD 1,112,203 thousand at the end of 2023[6] - Current assets totaled HKD 3,260,803 thousand, slightly up from HKD 3,214,583 thousand at the end of 2023[7] - Total liabilities increased to HKD 2,231,981 thousand from HKD 2,180,565 thousand at the end of 2023[9] - The net current asset value as of June 30, 2024, was HKD 1,199.5 million, down from HKD 1,459.9 million as of December 31, 2023[29] Expenses - The group incurred research and development costs of HKD 183.25 million for the six months ended June 30, 2024, compared to HKD 162.99 million in 2023, with employee costs accounting for HKD 108.47 million[16] - Selling and marketing expenses for the period were HKD 26.8 million, up from HKD 26.1 million in 2023, with the percentage of revenue increasing from 1.4% to 2.0%[25] - Administrative expenses for the six months ended June 30, 2024, were HKD 238.0 million, an increase of 14.6% compared to the same period last year, representing 17.5% of revenue, up from 11.5%[26] - Research and development costs for the same period were HKD 183.3 million, compared to HKD 163.0 million in 2023, accounting for 13.5% of revenue, up from 9.0%[26] - The group recorded a tax expense of HKD 34.24 million for the six months ended June 30, 2024, down from HKD 73.32 million in the previous year[17] Market and Operations - The company operates primarily in the mainland China market, with close to 100% of its revenue derived from this region[13] - The total sales volume decreased by 14.9% year-on-year, impacting revenue due to lower sales prices in the smart card and security chip market[25] - The company plans to closely monitor domestic market demand and actively explore potential customers to maintain its leading position in the smart card and security chip sectors[27] Innovation and Development - The group added 11 new patents and registered 1 new software copyright during the period, indicating ongoing investment in innovation despite market challenges[25] - The group recognized government grants of HKD 36.65 million in the first half of 2024, significantly higher than HKD 11.32 million in the same period of 2023[14] Cash and Financing - The company holds cash and cash equivalents of HKD 1,375.3 million as of June 30, 2024, compared to HKD 1,107.5 million as of December 31, 2023[28] - Bank and other borrowings amounted to HKD 493.1 million as of June 30, 2024, all due within one year and denominated in RMB, consistent with the previous year[29] - The group reported a net financing cost of HKD 10.93 million for the six months ended June 30, 2024, down from HKD 12.21 million in the previous year[15] Dividends and Shareholder Returns - The group did not declare any dividends for the six months ended June 30, 2024, consistent with the previous year[19] - The company has not declared any dividends for the six months ended June 30, 2024, consistent with the previous year[28] - The company has not repurchased or sold any of its shares during the six months ended June 30, 2024[31] Employee Information - The company employed approximately 450 employees as of June 30, 2024, with employee benefit expenses totaling HKD 162.5 million during the period[30]
中电华大科技(00085) - 2024 - 中期业绩