Financial Performance - Total new contracts signed and supplemented during the period amounted to HKD 186,512,000, a decrease of HKD 9,641,000 or 4.9% compared to HKD 196,153,000 for the six months ended June 30, 2023[7]. - The total value of contracts on hand was HKD 1,261,760,000, down HKD 49,008,000 or 3.7% from HKD 1,310,768,000 as of June 30, 2023[7]. - Revenue from continuing operations was HKD 206,385,000, a decrease of 12.2% from HKD 234,974,000 for the same period last year[7]. - The loss from continuing operations for the period was HKD 12,074,000, compared to a loss of HKD 14,501,000 for the six months ended June 30, 2023[7]. - The loss attributable to owners of the company was HKD 12,195,000, down from HKD 14,132,000 for the same period last year[7]. - Basic and diluted loss per share was HKD 0.0423, compared to HKD 0.0503 for the six months ended June 30, 2023[7]. - The company reported a gross profit of HKD 29,859,000, down from HKD 34,761,000 for the same period last year[8]. - The total comprehensive loss attributable to owners for the same period was HKD 15,413,000, down from HKD 21,042,000 in 2023, indicating a 27% reduction in losses[10]. - The company's basic and diluted loss per share for the period was HKD 4.23, compared to HKD 4.90 in the previous year, reflecting a 14% decrease in loss per share[10]. - Total revenue for the six months ended June 30, 2024, was HKD 206,385,000, with HKD 182,162,000 from architectural design services and HKD 24,223,000 from landscape design, urban planning, interior design, and heritage conservation services[27]. - Total external customer revenue for the six months ended June 30, 2024, was HKD 206,385,000, a decrease of 12.1% from HKD 234,974,000 in the same period of 2023[31]. Expenses and Liabilities - Administrative expenses decreased to HKD 38,424,000 from HKD 48,522,000 for the same period last year[8]. - The cost of services provided decreased to HKD 176,526,000 in 2024 from HKD 200,213,000 in 2023, reflecting a reduction of 11.8%[33]. - The company reported a significant decrease in employee costs, which fell to HKD 143,366,000 in 2024 from HKD 165,119,000 in 2023, a reduction of 13.2%[33]. - Current liabilities were reduced to HKD 222,835,000 from HKD 250,282,000, showing a decrease of about 11%[11]. - The total equity attributable to owners decreased to HKD 400,335,000 from HKD 415,771,000, a reduction of about 4%[13]. Cash Flow and Assets - The net cash flow from operating activities for the six months ended June 30, 2024, was HKD 6,188,000, compared to a net cash outflow of HKD 27,218,000 for the same period in 2023[22]. - The net cash used in investing activities for the six months ended June 30, 2024, was HKD 9,468,000, compared to a net cash inflow of HKD 8,230,000 for the same period in 2023[22]. - The net cash flow used in financing activities for the six months ended June 30, 2024, was HKD 7,386,000, compared to a net cash outflow of HKD 19,427,000 for the same period in 2023[22]. - The company's cash and bank balances were reported at HKD 77,933,000, down from HKD 90,101,000, reflecting a decrease of approximately 13%[11]. - The net current assets amounted to HKD 256,353,000, down from HKD 276,209,000, indicating a decline of approximately 7%[11]. - Non-current assets as of June 30, 2024, totaled HKD 155,993,000, slightly down from HKD 156,707,000 at the end of 2023[11]. Operational Focus and Strategy - The company continues to focus on improving operational efficiency and exploring market expansion opportunities to enhance future performance[10]. - The company aims to leverage opportunities in green smart building development in mainland China, Hong Kong, and the Middle East and North Africa[64]. - The company is committed to deepening digital transformation and focusing on sustainable development practices to improve living environments[64]. Corporate Governance and Shareholder Information - The company has complied with the corporate governance code as set out in the listing rules during the reporting period[75]. - Major shareholders included Beijing Holdings Group Limited and Beijing Municipal Engineering Design & Research Institute, each holding 27.57% of the shares[70]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for the six months ended June 30, 2024[76]. - The company has not reported any conflicts of interest among directors or major shareholders during the reporting period[74]. - The company has appointed a new executive director and committee member effective June 6, 2024, following the resignation of a previous director[75]. Dividends and Share Options - No interim dividend was declared for the period, consistent with the previous year[7]. - The company did not declare any interim dividends for the six months ended June 30, 2024, and June 30, 2023[44]. - The company has adopted a share option scheme to encourage contributions from qualified individuals, which will expire on December 5, 2023, with details available in the 2023 annual report[72]. - As of June 30, 2024, a total of 44,800,000 share options have been granted under the scheme, representing approximately 15.54% of the total issued shares as of that date[73].
思城控股(01486) - 2024 - 中期财报