Company Overview - World Super Holdings Limited announced its unaudited consolidated interim results for the six months ending June 30, 2024[1]. - The company is registered in the Cayman Islands and trades under stock code 8612[4]. - The company operates from its headquarters located at 34/F, AIA Tower, 183 Electric Road, North Point, Hong Kong[8]. - The board includes executive directors and independent non-executive directors, ensuring a diverse governance structure[8]. Financial Performance - Revenue for the six months ended June 30, 2024, was approximately HKD 7.45 million, a decrease of 30% compared to HKD 10.66 million for the same period in 2023[11]. - Gross profit for the same period was HKD 710,615, down 74% from HKD 2.74 million in 2023[11]. - The net loss for the six months ended June 30, 2024, was HKD 12.74 million, an increase of 27% from a loss of HKD 10.04 million in 2023[11]. - Total revenue decreased from approximately HKD 10.7 million for the six months ended June 30, 2023, to approximately HKD 7.5 million for the six months ended June 30, 2024, a decline of about 30%[23]. - The company reported a loss before tax of HKD 12,735,955, compared to a loss of HKD 10,568,593 in the previous year, indicating a deterioration in financial performance[48]. - The company reported a pre-tax loss of HKD 12,650,547 for the six months ended June 30, 2024, compared to a pre-tax loss of HKD 10,568,593 in the same period of 2023[67]. Revenue Breakdown - The construction services revenue, particularly from the Hong Kong market, was negatively impacted due to a decline in the total trading volume of the Hong Kong stock market, which fell by approximately 30%[11]. - Revenue from foundation engineering increased to approximately HKD 4.2 million, up from HKD 2.4 million in the previous year[16]. - The revenue from machinery leasing services decreased from approximately HKD 7.3 million to HKD 2.2 million due to reduced demand for the owned leasing fleet[13]. - Loan interest income from the lending business was approximately HKD 522,000, a significant increase from HKD 150,000 in the same period last year[20]. - Construction services revenue amounted to HKD 4,186,148 for the six months ended June 30, 2024, compared to HKD 2,394,153 in 2023, indicating an increase of approximately 74.7%[63]. - Machinery leasing income decreased to HKD 2,168,419 for the six months ended June 30, 2024, down from HKD 7,289,656 in 2023, reflecting a decline of approximately 70.2%[63]. Expenses and Liabilities - Administrative expenses increased to approximately HKD 11.3 million for the six months ended June 30, 2024, up from approximately HKD 8.4 million for the same period in 2023[26]. - The total liabilities increased to HKD 19,343,843 as of June 30, 2024, from HKD 10,470,082 as of December 31, 2023, indicating a rise of approximately 84.5%[50]. - The company incurred a total comprehensive expense of HKD (10,037,162) for the six months ended June 30, 2023, and HKD (12,781,144) for the same period in 2024, indicating an increase in losses[51]. Cash Flow and Assets - Cash and bank balances decreased to approximately HKD 3.3 million as of June 30, 2024, down from approximately HKD 11.1 million as of December 31, 2023[29]. - The net cash used in operating activities for the six months ended June 30, 2024, was HKD (6,298,803), compared to HKD (1,793,740) for the same period in 2023, indicating a significant increase in cash outflow[53]. - As of June 30, 2024, the total assets decreased to HKD 27,101,625 from HKD 40,129,961 as of December 31, 2023, representing a decline of approximately 32.5%[50]. Corporate Governance - The announcement complies with the GEM Listing Rules, ensuring the accuracy and completeness of the information provided[3]. - The board of directors collectively and individually accepts full responsibility for the accuracy of the announcement[3]. - The company is committed to high standards of corporate governance and has adhered to the GEM Listing Rules during the reporting period[94]. - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited interim results for the six months ending June 30, 2024, ensuring compliance with applicable accounting standards[95]. Risk Management - The company emphasizes the potential risks associated with investing in GEM-listed companies, which are generally smaller and may have higher volatility[5]. - The company faced operational, credit, and market risks, with management actively monitoring and managing these risks[32][34][35]. - The company faced risks related to a concentrated customer base, which could adversely affect operations and financial performance if major customers experience losses[45]. Employee and Shareholder Information - Total employee costs for the six months ended June 30, 2024, were approximately HKD 6.0 million, an increase from HKD 5.5 million in the same period of 2023[40]. - The company employed 15 full-time employees and 2 part-time employees as of June 30, 2024, compared to 13 full-time and 2 part-time employees in the previous year[40]. - The basic loss per share attributable to the company's owners for the six months ended June 30, 2024, was HKD (1.48), compared to HKD (1.16) for the same period in 2023, reflecting an increase in loss[73]. - The total number of issued ordinary shares remained at 864,000,000 for both June 30, 2024, and December 31, 2023[79].
维亮控股(08612) - 2024 - 中期业绩