Financial Performance - The group's revenue decreased by approximately 41.6% from about HKD 10.3 million for the period ended June 30, 2023, to about HKD 6.0 million for the period ended June 30, 2024[2]. - The loss for the period ended June 30, 2024, was approximately HKD 1.1 million, compared to a profit of about HKD 2.2 million for the same period in 2023[2]. - Basic loss per share for the period ended June 30, 2024, was approximately HKD 0.14, while basic earnings per share for the period ended June 30, 2023, was approximately HKD 0.28[3]. - The company recorded a net loss of HKD 1.122 million attributable to shareholders for the period ended June 30, 2024, compared to a profit of HKD 2.249 million for the same period in 2023[3]. - The company experienced a decrease in client contract revenue from HKD 8.591 million in 2023 to HKD 3.766 million in 2024[3]. - Total revenue for the six months ended June 30, 2024, was HKD 5.997 million, with segment revenues of HKD 4.020 million from advisory services and HKD 1.977 million from lending services[11]. - The group reported a net loss of approximately HKD 1.1 million and a net current liability of about HKD 6.3 million as of June 30, 2024, indicating uncertainty regarding the group's ability to continue as a going concern[8]. - The group’s total income for the six months ended June 30, 2023, was HKD 10.262 million, with a pre-tax profit of HKD 3.036 million[12]. - The group recorded a loss of approximately HKD 1.1 million for the current period, compared to a profit of approximately HKD 2.2 million in the previous period[30]. Assets and Liabilities - Total assets less current liabilities amounted to HKD 6.532 million as of June 30, 2024, down from HKD 50.209 million as of June 30, 2023[4]. - Current liabilities increased to HKD 45.456 million as of June 30, 2024, compared to HKD 21.465 million as of June 30, 2023[4]. - Non-current assets decreased from HKD 25.240 million as of June 30, 2023, to HKD 12.854 million as of June 30, 2024[4]. - Accounts receivable from contract customers decreased significantly to HKD 6,272,000 from HKD 25,290,000, a decline of approximately 75.2%[19]. - The group has outstanding notes payable of HKD 40.0 million, which are due in January 2025[38]. - As of June 30, 2024, the group recorded a net current liability of approximately HKD 6.3 million, compared to a net current asset of approximately HKD 25.0 million as of December 31, 2023[36]. Dividends and Shareholder Returns - The company did not recommend the payment of an interim dividend for the period ended June 30, 2024, consistent with no interim dividend for the period ended June 30, 2023[2]. - The company has no plans to declare dividends for the period ending June 30, 2024, consistent with the previous year[17]. - The company does not recommend the payment of an interim dividend for the current period[47]. Operational Changes and Future Outlook - The company is transitioning to a fully digital securities and wealth management firm, launching a comprehensive product suite on a mobile application platform[25]. - The group anticipates a positive outlook for the second half of the year, driven by technology upgrades and marketing activities aimed at expanding the customer base and generating more stable recurring revenue[8]. - The group is implementing new accounting policies effective from January 1, 2024, but these changes are not expected to have a significant impact on financial performance[9]. - The company is increasing resources for market promotion and plans to create positive synergies with its affiliates, including Lihqiao Bank and Lihqiao Insurance[25]. Employee and Operational Costs - The group employed a total of 10 employees as of June 30, 2024, down from 15 employees in the previous year, with total employee costs of approximately HKD 2.5 million[32]. - Total employee costs decreased to HKD 2,494,000 from HKD 3,082,000, representing a reduction of about 19.1%[16]. - Other operating and administrative expenses were approximately HKD 3.9 million, a slight increase of about HKD 34,000 or approximately 0.9% from the previous period[33]. - Technology and communication expenses accounted for approximately 47.3% of the general and administrative expenses, totaling about HKD 1.9 million, an increase of approximately 15.3% from the previous period[33]. - The depreciation of right-of-use assets was approximately HKD 0.9 million, an increase of about 1,866.5% compared to the previous period[34]. Financial Management and Governance - The group maintains a prudent treasury policy to manage its cash balance and ensure strong liquidity[37]. - The management anticipates no significant credit risk due to all bank balances being held in recognized banks and financial institutions in Hong Kong and Macau[39]. - The group has no significant contingent liabilities as of June 30, 2024[42]. - The company has complied with the corporate governance code and maintains the required public float as per GEM listing rules[45]. - The audit committee has been established to assist the board in overseeing internal audit functions and financial reporting processes[49]. Miscellaneous - The group held approximately HKD 12.5 million in cash and is in discussions to raise funds to repay notes due in January 2025, expected to be completed by September 2024[8]. - The group generated a pre-tax profit of HKD 288, after accounting for unallocated corporate expenses of HKD 1.362 million[11]. - The group's cash and cash equivalents amounted to approximately HKD 12.5 million as of June 30, 2024, slightly up from HKD 12.4 million as of December 31, 2023[37]. - The executive directors include Ms. Xu Wenxia and Mr. Guan Jianwen, with independent non-executive directors Mr. Li Jun, Ms. Wu Hongru, and Mr. Yang Zicheng[51]. - The announcement will be available on the Hong Kong Stock Exchange website for at least seven days from the date of publication[52].
立桥证券控股(08350) - 2024 - 中期业绩