Financial Performance - Revenue decreased by approximately 12.7% to about $3.1 million[1] - Loss attributable to owners for the period was approximately $0.5 million, with a total comprehensive loss of about $1.9 million[1] - Basic and diluted loss per share was approximately $0.02[1] - Total comprehensive loss for the period was $1.557 million compared to $2.958 million in the previous year[3] - The group reported a net loss of $134,000 for the six months ended June 30, 2024, compared to a net loss of $2,201,000 in the same period of 2023[10] - Basic and diluted loss per share for the six months ended June 30, 2024, was $(0.28), compared to $(1.88) for the same period in 2023[16] - Revenue for the period was approximately $3.1 million, a decrease of about $0.5 million from $3.6 million in the same period last year, primarily due to a reduction in printed circuit board and AI material trading by approximately $1.3 million[33] Profitability and Expenses - Gross profit increased to $1.452 million from $1.178 million year-on-year, reflecting a significant improvement[2] - Administrative expenses were $548,000, slightly up from $540,000 in the previous year[2] - Financial costs decreased to $323,000 from $492,000, indicating improved cost management[2] - Employee costs, including directors' remuneration and retirement benefits, amounted to $306,000, a decrease from $386,000 in the prior year[14] - The company incurred legal and professional fees of $76,000 during the period, compared to $25,000 in the previous year[14] - The group’s financial costs for the period were approximately $0.4 million, compared to about $0.5 million in the same period last year[38] - The company incurred an impairment loss of approximately $0.6 million on intangible assets due to delays in the upgrade of certain LPTV stations[40] Assets and Liabilities - Non-current assets remained stable at approximately $34.313 million[4] - Current assets decreased to $9.538 million from $10.022 million, indicating a reduction in liquidity[4] - Total equity decreased to $31.572 million from $33.119 million, reflecting a decline in shareholder value[5] - The total trade receivables decreased to $2.326 million as of June 30, 2024, from $3.838 million as of December 31, 2023[22] - Trade payables totaled $2.003 million as of June 30, 2024, compared to $1.564 million as of December 31, 2023[23] - The group’s convertible bonds amounted to approximately $9.2 million as of June 30, 2024, compared to $8.9 million as of December 31, 2023[45] - The asset-liability ratio was approximately 21.0% as of June 30, 2024, reflecting a stable financial condition[45] Business Segments - The trading business segment generated revenue of $1,385,000, down 47.9% from $2,659,000 in the prior year[11] - The CMMB business segment saw revenue increase to $1,747,000, up 88.0% from $929,000 in the previous year[11] Future Plans and Strategies - The company plans to lease spare satellite bandwidth to other aerospace operators instead of developing satellite internet services in China[20] - The management remains confident in the regulatory approval process and is exploring the possibility of launching satellite data transmission services in the ASEAN region[21] - The company plans to deploy a Low Earth Orbit (LEO) satellite constellation to provide low-latency voice and broadband internet services across Asia, addressing the growing demand for high-speed, reliable internet in underserved and remote areas[55] - The company aims to enhance network performance and user experience through advanced data analytics in its satellite network solutions[55] - The company is actively seeking to improve its financial situation by refinancing its debts and broadening its revenue sources[43] Governance and Compliance - The board has adopted a corporate governance code and is committed to maintaining high standards of governance, although it has deviated from the code regarding the separation of the roles of Chairman and CEO[58] - The company has established a shareholder communication policy to facilitate effective communication between the company, shareholders, and other stakeholders[60] - The audit committee has reviewed and discussed the accounting principles and policies adopted by the group, recommending the board to approve the unaudited consolidated financial statements for the period[59] Miscellaneous - The company did not declare any interim dividend for the six months ended June 30, 2024, consistent with the previous year[30] - The group has not engaged in any significant off-balance sheet transactions as of June 30, 2024, consistent with the previous year[48] - The company has no significant investments as of June 30, 2024, and no major acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[54][53] - The group believes that foreign exchange risk has minimal impact, as most assets, liabilities, and transactions are denominated in USD, and no hedging arrangements were made during the period[49]
中播数据(00471) - 2024 - 中期业绩