Financial Performance - For the six months ended June 30, 2024, Winto Group reported revenue of HK$7,672,000, a decrease of 29.8% compared to HK$10,877,000 in the same period of 2023[8]. - The gross profit for the period was HK$5,523,000, resulting in a gross margin of approximately 72%[8]. - The company incurred a loss before taxation of HK$406,000, a significant improvement from a loss of HK$13,722,000 in the prior year[8]. - Total comprehensive loss for the period was HK$406,000, compared to a loss of HK$13,722,000 in the same period last year[8]. - Operating expenses decreased to HK$5,422,000 from HK$8,824,000, reflecting a reduction of 38.5%[8]. - Other income for the period was HK$48,000, compared to HK$149,000 in the previous year[8]. - Finance costs amounted to HK$556,000, down from HK$1,172,000 in the prior year[8]. - For the six months ended June 30, 2024, the company reported a loss attributable to owners of the company of HK$112,000 compared to a loss of HK$13,478,000 for the same period in 2023, indicating a significant improvement[9]. - Basic and diluted loss per share improved to HK$0.02 from HK$2.37 year-on-year, reflecting a reduction in losses[9]. Cash Flow and Financing - Cash and cash equivalents increased to HK$11,427,000 as of June 30, 2024, up from HK$3,552,000 at the beginning of the year, reflecting improved cash flow management[13]. - The company generated net cash of HK$4,859,000 from financing activities during the six months ended June 30, 2024, compared to HK$4,017,000 in the same period of 2023[13]. - The company raised HK$6,479,000 from the issuance of new shares during the period, contributing to its financing activities[13]. - The Group's current ratio improved to approximately 0.6 times, up from 0.5 times at December 31, 2023[46]. - The Group's bank balance and cash increased to approximately HK$11,427,000 as of June 30, 2024, compared to approximately HK$3,552,000 at December 31, 2023[46]. - The gearing ratio as of June 30, 2024, was approximately 31%, an increase from approximately 29% at December 31, 2023[46]. Assets and Liabilities - As of June 30, 2024, total current liabilities increased to HK$71,594,000 from HK$70,709,000 at the end of 2023, indicating a slight rise in financial obligations[10]. - The company's net current liabilities improved to HK$25,766,000 from HK$31,962,000 at the end of 2023, showing a positive trend in liquidity[11]. - Total equity attributable to owners of the company decreased to HK$21,312,000 from HK$27,679,000 at the end of 2023, indicating a decline in net assets[12]. - The company’s total capital deficiency attributable to owners of the company was HK$21,312,000 as of June 30, 2024, compared to HK$27,679,000 at the end of 2023, indicating a reduction in capital shortfall[12]. Operational Efficiency and Strategy - The company is focused on improving operational efficiency and reducing costs to enhance profitability in future periods[8]. - Winto Group is exploring new market opportunities and potential product innovations to drive future growth[8]. - The Group will focus on uncertainties in the economic environment and formulate strategies for steady development and shareholder returns[35]. Corporate Governance - The company remains committed to adhering to the GEM Listing Rules and ensuring transparency in its financial reporting[3]. - The Company has complied with the Corporate Governance Code for the reporting period, except for Code Provision A.2.1, which requires the roles of chairman and CEO to be separated[70]. - The Company is committed to enhancing its corporate governance standards and meeting the expectations of shareholders and investors[71]. - The Board believes the current decision-making arrangement allows for prompt and effective responses to changing environments[70]. - The Company will continue to review its corporate governance practices to comply with regulatory requirements[71]. Shareholder Information - The issuance of 124,416,000 new shares was completed on 28 June 2024, increasing the total issued shares to 746,496,000[32]. - As of June 30, 2024, the Company had 746,496,000 shares in issue[59]. - Mr. Lui Man Wah holds a long position of 343,300 shares, representing approximately 0.05% of the Company's shares[53]. - Muhammad Shaifadila Binti holds a long position of 39,376,000 shares, representing approximately 5.27% of the Company's shares[58]. Risk Management - The Group's policy includes only dealing with creditworthy counterparties to mitigate credit risk, ensuring financial stability[51]. - The Group does not expect any significant currency or interest rate risks that would materially affect its operations[51]. - The Group has a credit policy in place to minimize risk, with ongoing monitoring of credit exposures and evaluations of major customers' financial positions[52]. - The credit risk on bank balances is limited due to counterparties being banks with high credit ratings[52]. - The Group does not require collateral for its financial assets[52]. Other Information - No dividend has been paid or proposed for the six months ended June 30, 2024, consistent with the same period in 2023[23]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2024[47]. - The Group had no material pledges of assets, significant contingent liabilities, or capital commitments as of June 30, 2024[47]. - The Audit Committee has reviewed the unaudited condensed consolidated financial results for the six months ended 30 June 2024 prior to Board approval[76]. - There were no significant events relevant to the business or financial performance of the Group after the reporting period up to the date of this report[75]. - The condensed consolidated financial results for the six months ended 30 June 2024 have not been audited by the Company's auditor[77].
惠陶集团(08238) - 2024 - 中期财报