Financial Performance - Revenue for the six months ended June 30, 2024, was HK$122,879,000, a decrease of HK$19,890,000 compared to HK$142,769,000 in the same period of 2023[9]. - The company reported a loss of HK$410,000 for the period, a decline of HK$4,098,000 from a profit of HK$3,688,000 in the previous year[9]. - Profit attributable to owners of the Company was HK$825,000, down from HK$4,330,000, representing a decrease of HK$3,505,000[9]. - Basic earnings per share decreased to HK$0.142 from HK$0.75, a decline of HK$0.608[9]. - Diluted earnings per share also fell to HK$0.140 from HK$0.75, a decrease of HK$0.61[9]. - The Group recorded an unaudited revenue of approximately HK$122.9 million for the six months ended 30 June 2024, representing a decrease of approximately 13.9% compared with the corresponding period in 2023[11]. - The unaudited profit attributable to the owners of the Company was approximately HK$0.8 million for the six months ended 30 June 2024, a decrease of approximately HK$3.5 million compared to the same period in 2023[11]. - The profit before taxation for the six months ended June 30, 2024, was HK$825,000, a decrease from HK$4,330,000 for the same period in 2023, representing a decline of approximately 81%[64]. Operational Efficiency and Strategy - The report indicates that the company is committed to improving its financial performance in the upcoming periods[9]. - The company is exploring new product development and market expansion strategies to enhance revenue streams[9]. - Management is focused on addressing the challenges faced in the current market environment to stabilize operations[9]. - The company plans to enhance its operational efficiency through strategic initiatives and potential partnerships[9]. - Future guidance remains cautious, with an emphasis on monitoring market conditions and adjusting strategies accordingly[9]. - The Group's strategic focus includes market expansion and new product development in the food sector[142]. Cost Management - Staff costs for the period were HK$48.4 million, down from HK$51.3 million in the previous year, indicating a reduction of approximately 5.7%[13]. - Advertising and promotion expenses decreased to HK$3.0 million from HK$4.9 million, reflecting a reduction of approximately 38.5%[14]. - Total staff costs for the six months ended June 30, 2024, amounted to approximately HK$48.4 million, down from approximately HK$51.3 million for the same period in 2023, representing a decrease of about 5.6%[146]. - The closure of "Agora" in October 2023 significantly impacted the Group's revenue and staff costs[113][119]. Assets and Liabilities - As of 30 June 2024, total assets less current liabilities amounted to HK$7.7 million, a decrease from HK$16.0 million as of 31 December 2023[18]. - The Group's net current liabilities were HK$35.8 million, an improvement from HK$41.6 million at the end of the previous year[18]. - As of June 30, 2024, the total liabilities amounted to HK$17,964,000, a decrease from HK$26,844,000 as of December 31, 2023, representing a reduction of approximately 33%[19]. - The net liabilities were reported at HK$(10,226,000) as of June 30, 2024, compared to HK$(10,827,000) at the end of 2023, indicating an improvement of about 5.5%[19]. - The total amount of trade payables aged over 90 days was HK$1,130,000, down from HK$1,542,000, a decrease of approximately 26.7%[89]. - The company reported a total of HK$26,432,000 in trade and other payables as of June 30, 2024, compared to HK$33,068,000 as of December 31, 2023, reflecting a decrease of about 20.1%[84]. Cash Flow - The cash and cash equivalents at the end of the period were HK$6,688,000, down from HK$8,675,000 at the same time last year, reflecting a decrease of approximately 23%[24]. - For the six months ended June 30, 2024, the net cash from operating activities was HK$9,587,000, compared to HK$16,219,000 for the same period in 2023, a decline of about 41%[24]. - The cash used in financing activities was HK$(11,573,000) for the six months ended June 30, 2024, compared to HK$(15,993,000) in the same period of 2023, reflecting a decrease of approximately 27.5%[24]. - The Company reported a net decrease in cash and cash equivalents of HK$(3,671,000) for the period, compared to a decrease of HK$(666,000) in the previous year, indicating a significant increase in cash outflow[24]. Market Performance - Fine dining revenue decreased to HK$67,242,000 from HK$86,538,000, representing a decline of 22.3%[37]. - Mid-market dining revenue decreased to HK$6,116,000 from HK$10,453,000, a decline of 41.5%[37]. - Casual dining revenue increased to HK$49,521,000 from HK$45,778,000, an increase of 12.0%[37]. - The Group remains optimistic about a gradual recovery in the Hong Kong food and beverage industry in Q3 and Q4 2024, driven by an anticipated increase in tourist arrivals[113]. Shareholder Information - The Company granted share options amounting to HK$1,011,000 during the period, contributing to the overall equity changes[22]. - The total equity attributable to owners of the Company decreased to HK$11,558,000 as of June 30, 2024, from HK$11,598,000 at the beginning of the year, a slight decline of about 0.3%[22]. - The Company completed a share consolidation on 25 March 2024, reducing the total number of issued shares from 1,159,780,000 to 579,890,000[130]. - Mr. Peng Ben holds 434,917,500 shares through his controlled corporation, representing approximately 75% of the issued share capital[154]. Corporate Governance - The Audit Committee reviewed the unaudited condensed consolidated results for the six months ended June 30, 2024, and confirmed compliance with applicable accounting standards and GEM Listing Rules[183]. - Ms. Wong Pui Yain resigned as chairperson on February 9, 2024, and ceased to be CEO on February 15, 2024; Mr. Liu Enyu was appointed as chairperson, and Mr. Kong Linglei as CEO[187]. - The Company fully complied with the code provision C.2.1 of the CG Code, separating the roles of chairman and CEO since February 15, 2024[187]. - The Board currently comprises two executive Directors, two non-executive Directors, and three independent non-executive Directors[190].
佳民集团(08519) - 2024 - 中期财报