Financial Performance - For the six months ended June 30, 2024, the group recorded revenue and gross profit of approximately HKD 58,820,000 and HKD 15,032,000, representing an increase of approximately 37.6% and 49.5% compared to the same period in 2023[6]. - The gross profit margin increased by 2.1 percentage points from 23.5% for the six months ended June 30, 2023, to approximately 25.6% for the six months ended June 30, 2024[6]. - The group achieved a net profit of approximately HKD 445,000 for the six months ended June 30, 2024, compared to a net loss of approximately HKD 2,071,000 for the same period in 2023, marking a turnaround from loss to profit[6]. - Revenue for the six months ended June 30, 2024, was HKD 58,820,000, an increase of 37.5% compared to HKD 42,755,000 for the same period in 2023[7]. - Gross profit for the same period was HKD 15,032,000, representing a gross margin of 25.5%, up from HKD 10,052,000 in 2023[7]. - The company reported a profit before tax of HKD 861,000, a significant improvement from a loss of HKD 1,610,000 in the previous year[7]. - Total comprehensive income for the period was HKD 2,778,000, recovering from a total comprehensive loss of HKD 5,804,000 in 2023[7]. - The company reported a profit attributable to shareholders of HKD 445,000 for the six months ended June 30, 2024, compared to a loss of HKD 2,071,000 for the same period in 2023[29]. Revenue Drivers - The increase in revenue and gross profit is attributed to higher sales in clothing and cloud computing services, as well as a reduction in unit material costs and outsourcing processing fees[6]. - Functional knitted fabric sales contributed HKD 39,469,000, up 16.5% from HKD 33,887,000 year-on-year[17]. - Cloud computing and internet traffic services generated HKD 53,181,000, a growth of 24.3% from HKD 42,755,000 in the previous year[17]. - The cloud computing and internet traffic services segment generated revenue of HKD 5,639,000, marking its steady growth since its inception last year[45]. Cost and Expenses - Employee costs, excluding directors' remuneration, decreased to HKD 2,531,000 from HKD 5,447,000 year-on-year, reflecting a reduction of approximately 53%[27]. - The cost of inventory recognized as an expense increased to HKD 36,975,000 from HKD 31,529,000, representing an increase of about 17%[27]. - The sales and distribution expenses increased by approximately HKD 634,000 or 23.4%, from approximately HKD 2,704,000 to approximately HKD 3,338,000, primarily due to increased digital marketing and e-commerce agency fees[48]. - Administrative and other expenses rose by approximately HKD 1,822,000 or 20.3%, from approximately HKD 8,962,000 to approximately HKD 10,784,000, mainly due to increased rent and professional fees[49]. Cash Flow and Assets - Cash and cash equivalents at the end of the period were HKD 54,989,000, down from HKD 56,494,000 at the end of 2023[13]. - The company experienced a net cash outflow from operating activities of HKD 41,062,000, compared to HKD 25,528,000 in the previous year[13]. - Total assets increased to HKD 178,656,000 as of June 30, 2024, up from HKD 161,275,000 at the end of 2023[9]. - The company's net assets stood at HKD 149,380,000, a slight increase from HKD 146,602,000 at the end of 2023[9]. Shareholder Information - The basic and diluted earnings per share for the period were HKD 0.08, recovering from a loss per share of HKD 0.43 in the previous year[7]. - The company issued 96,000,000 new shares at HKD 0.185 per share, raising approximately HKD 17,760,000, with a net amount of HKD 17,400,000 after expenses[54]. - As of June 30, 2024, Mr. Li Jian holds 89,495,000 shares, representing 15.54% of the company's equity[59]. - Mr. Chen Guomin owns 80,540,000 shares, accounting for 13.98% of the company's equity[59]. - Ms. Li Yingyang has a beneficial interest in 81,595,000 shares, which is 14.17% of the company's equity[61]. - Mr. Li Jun, as a beneficial owner, holds 100,510,000 shares, representing 17.45% of the company's equity[61]. - Meta Tdex Technology LLC, beneficially owned by Mr. Li Jun, holds 96,000,000 shares, accounting for 16.67% of the company's equity[61]. Governance and Compliance - The company has established an audit committee in compliance with GEM Listing Rules, consisting of three independent non-executive directors[63]. - The audit committee reviewed the unaudited interim consolidated financial information for the six months ended June 30, 2024, and found it compliant with applicable accounting standards[64]. - The company has adopted a set of guidelines for securities trading by directors, confirming compliance by all directors during the reporting period[64]. - There were no repurchases of listed securities by the company or its subsidiaries during the reporting period[64]. Strategic Focus - The management anticipates continued growth in demand for the group's products in the second half of 2024, driven by the recovery of the national economy[6]. - The company is focused on expanding its cloud computing and internet traffic services alongside its functional knitted fabric and apparel sales[19]. - The company plans to continue investing in R&D for functional knitted fabrics and dyeing methods to enhance competitiveness[44]. - The company aims to improve its market position in China by diversifying product offerings and optimizing marketing efforts based on changing market conditions[44]. - The company has shifted its business focus and strategic development towards computing power and information technology, as reflected in recent acquisitions[68]. Dividend Policy - The board of directors does not recommend the payment of a dividend for the six months ended June 30, 2024, consistent with the previous period[6]. - The company did not declare or propose any dividends for the six months ended June 30, 2024, nor for the same period in 2023[38]. - The company does not recommend any dividend payment for the six months ended June 30, 2024, consistent with the previous period[51].
智云国际控股(08521) - 2024 - 中期业绩