Financial Performance - For the six months ended June 30, 2024, the group reported revenue of HKD 58,631,000, an increase from HKD 43,419,000 in the same period of 2023, representing a growth of 35%[2] - The gross profit for the same period was HKD 4,755,000, down from HKD 6,092,000, indicating a decline of 22%[2] - The group incurred an operating loss of HKD 2,128,000 compared to an operating profit of HKD 952,000 in the previous year, reflecting a significant downturn[2] - The net loss attributable to equity holders for the six months was HKD 2,784,000, compared to a loss of HKD 46,000 in the prior year[3] - The company reported a basic and diluted loss per share of HKD 2.42 for the period, compared to HKD 0.04 in the previous year[3] - The company reported a pre-tax loss of HKD 2,923,000 for the six months ended June 30, 2024, compared to a pre-tax profit of HKD 327,000 in the same period of 2023[17] - The company recorded a net loss of approximately HKD 2.9 million for the six months ended June 30, 2024, compared to a net profit of approximately HKD 0.1 million for the same period in 2023[41] - The group recorded a loss of approximately HKD 2.9 million for the six months ended June 30, 2024, compared to a profit of approximately HKD 0.1 million for the same period in 2023[47] Assets and Liabilities - Total assets decreased to HKD 102,366,000 as of June 30, 2024, down from HKD 104,305,000 at the end of 2023[4] - The company's equity attributable to owners decreased to HKD 38,766,000 from HKD 41,512,000, reflecting a decline of 7%[5] - Total liabilities increased to HKD 63,281,000 from HKD 62,329,000, indicating a slight rise in financial obligations[7] - Total assets as of June 30, 2024, were HKD 102,366,000, down from HKD 125,532,000 in the previous year, indicating a decrease of 18.5%[18] - The total equity attributable to the owners of the company was approximately HKD 38.8 million as of June 30, 2024, compared to HKD 41.5 million as of December 31, 2023[49] - The group's total debt, including borrowings and lease liabilities, was approximately HKD 17.6 million as of June 30, 2024, down from HKD 25.6 million as of December 31, 2023[50] - The capital debt ratio was approximately 45.0% as of June 30, 2024, compared to 60.9% as of December 31, 2023[50] Cash Flow and Investments - The group's cash and bank balances fell to HKD 2,019,000 from HKD 4,837,000, a decrease of 58%[4] - The net cash generated from operating activities for the six months ended June 30, 2024, was HKD 6,568,000, a significant increase from HKD 888,000 in the same period of 2023, representing a growth of 641%[10] - The cash and cash equivalents decreased to HKD 2,019,000 at the end of the period from HKD 2,738,000 a year earlier, reflecting a decline of 26.2%[10] - The company’s total cash outflow from investing activities was HKD 611,000, significantly reduced from HKD 10,410,000 in the same period of 2023[10] - The company completed a rights issue on June 21, 2024, raising approximately HKD 12.8 million, with net proceeds of approximately HKD 10.4 million[59] Revenue Sources - Revenue from the foundation and related engineering business reached HKD 58,209,000, up 37.4% from HKD 42,394,000 in the previous year, while sales of alcoholic beverages decreased to HKD 422,000 from HKD 1,025,000[15] - Revenue from external customers in Hong Kong increased significantly to HKD 58,209 thousand in 2024, up 37.4% from HKD 42,394 thousand in 2023[21] - Major customer A contributed HKD 12,981 thousand in revenue for the first half of 2024, while customer C contributed HKD 18,284 thousand, both representing new significant revenue sources[22] Operating Expenses - Total operating expenses rose to HKD 8,865 thousand in 2024, an increase of 63.5% compared to HKD 5,405 thousand in 2023, driven by higher employee costs and other expenses[24] - Administrative and other operating expenses increased from about HKD 5.4 million for the six months ended June 30, 2023, to about HKD 8.9 million for the six months ended June 30, 2024, reflecting a rise in other expenses[46] - The total employee costs for the six months ended June 30, 2024, amounted to approximately HKD 19.4 million, an increase from HKD 11.7 million in 2023[57] Corporate Governance and Compliance - The company did not declare an interim dividend for the first half of 2024, consistent with the previous year[29] - The company did not recommend any interim dividend for the six months ended June 30, 2024, compared to none in 2023[58] - The company has complied with all applicable corporate governance codes as of June 30, 2024[68] - The audit committee has reviewed the financial reporting process and internal controls, ensuring compliance with applicable accounting standards and regulations for the six months ending June 30, 2024[70] Market and Strategic Outlook - The company plans to continue investing in technological innovation and talent development to maintain its competitive advantage in the foundation engineering market in Hong Kong[42] - The company is closely monitoring the alcohol beverage trade market in mainland China, which has significant growth potential due to increasing consumer demand[42]
基地锦标集团(08460) - 2024 - 中期业绩