Financial Performance - For the six months ended June 30, 2024, the group recorded revenue of approximately HKD 58,820,000, an increase of about 37.6% compared to HKD 42,755,000 for the same period in 2023[5] - Gross profit for the same period was approximately HKD 15,032,000, representing a 49.5% increase from HKD 10,052,000 in the prior year[5] - The group achieved a net profit of approximately HKD 445,000 for the six months ended June 30, 2024, a turnaround from a net loss of HKD 2,071,000 in the same period of 2023[5] - Basic and diluted earnings per share for the period were HKD 0.08, compared to a loss of HKD 0.43 in the same period last year[6] - The group recorded a pre-tax profit of HKD 861,000, a significant improvement from a pre-tax loss of HKD 1,610,000 in the previous year[6] - 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[28] Revenue and Growth - 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[5] - The company expects higher revenue and operating profit in the second half of the year due to seasonal demand for functional knitted fabrics[42] - Revenue from customer contracts for the six months ended June 30, 2024, was HKD 58,820 thousand, an increase of 37.5% compared to HKD 42,755 thousand for the same period in 2023[16] - The company's revenue increased by approximately HKD 16,065,000 or 37.6% from HKD 42,755,000 for the six months ended June 30, 2023, to HKD 58,820,000 for the six months ended June 30, 2024[45] Expenses and Costs - The cost of inventory recognized as an expense was HKD 36,975 thousand for the six months ended June 30, 2024, compared to HKD 31,529 thousand for the same period in 2023[26] - Sales and distribution expenses increased by approximately HKD 634,000 or 23.4%, from HKD 2,704,000 to HKD 3,338,000, primarily due to increased digital marketing and e-commerce agency fees[47] - Administrative and other expenses rose by approximately HKD 1,822,000 or 20.3%, from HKD 8,962,000 to HKD 10,784,000, mainly due to increased rent and professional fees[48] - Employee costs, excluding directors' remuneration, decreased to HKD 2,531 thousand for the six months ended June 30, 2024, down from HKD 5,447 thousand in the previous year[26] Assets and Liabilities - As of June 30, 2024, total assets amounted to HKD 178,656 million, an increase of 10.8% from HKD 161,275 million as of December 31, 2023[8] - Total equity increased to HKD 149,380 million as of June 30, 2024, up from HKD 146,602 million as of December 31, 2023, reflecting a growth of 1.2%[9] - The company’s current liabilities increased to HKD 43,617 million as of June 30, 2024, compared to HKD 30,059 million as of December 31, 2023, an increase of 45.1%[8] - The total liabilities rose to HKD 48,341 thousand as of June 30, 2024, up from HKD 35,213 thousand as of December 31, 2023, indicating a 37.2% increase[21] Cash Flow - The company reported a net cash outflow from operating activities of HKD 41,062 million for the six months ended June 30, 2024, compared to HKD 25,528 million for the same period in 2023[12] - The company reported a net cash inflow from financing activities of HKD 14,285 million for the six months ended June 30, 2024, compared to a net cash outflow of HKD 1,550 million for the same period in 2023[12] - The company’s cash and cash equivalents decreased to HKD 54,989 million as of June 30, 2024, from HKD 56,494 million as of June 30, 2023, representing a decline of 2.7%[12] Shareholder Information - The board does not recommend the payment of a dividend for the six months ended June 30, 2024, consistent with the previous year[5] - The company completed a placement of 96,000,000 new ordinary shares at a price of HKD 0.185 per share, raising approximately HKD 17,760,000, with a net amount of HKD 17,400,000 after expenses[53] - As of June 30, 2024, the major shareholders included Li Jian with 15.54% and Chen Guomin with 13.98% of the shares[58] Corporate Governance - The audit committee has reviewed the unaudited interim consolidated financial information for the six months ended June 30, 2024, and confirmed compliance with applicable accounting standards and GEM listing rules[63] - The company has established an audit committee consisting of three independent non-executive directors, ensuring adherence to corporate governance standards[62] - The company has complied with all applicable provisions of the corporate governance code during the reporting period[64] - No directors or major shareholders have interests in any business that competes directly or indirectly with the group as of June 30, 2024[61] Strategic Initiatives - The company plans to ensure sales orders with existing customers while exploring new markets to capitalize on recovery opportunities[5] - The company plans to continue investing in R&D for functional knitted fabrics and dyeing methods to enhance competitiveness and market position in China[43] - The company has changed its name from "ST International Holdings Company Limited" to "WebX International Holdings Company Limited," effective June 20, 2024, reflecting a strategic shift towards computing and information technology[66]
智云国际控股(08521) - 2024 - 中期财报