Financial Performance - Total revenue for the six months ended June 30, 2024, was HK$109,452,000, an increase of 9.43% from HK$100,020,000 in the same period of 2023[8]. - Gross profit for the period was HK$57,723,000, up from HK$53,743,000, reflecting a gross profit margin improvement[8]. - Profit for the period was HK$26,261,000, a decrease of 12.3% compared to HK$30,120,000 in the previous year[10]. - Earnings per share for profit attributable to ordinary equity holders was HK$0.12 for the six months ended June 30, 2024[9]. - Total comprehensive income for the period was HK$14,332,000, compared to a comprehensive loss of HK$25,683,000 in the same period of 2023[9]. - The company reported other income of HK$5,253,000, contributing positively to the overall financial performance[8]. - The operating profit for the period was HK$35,052,000, down from HK$39,324,000 in the previous year[8]. - The total comprehensive income for the period ended June 30, 2024, was HK$14,331,000, which includes a profit of HK$17,981,000 and other comprehensive losses of HK$3,650,000[18]. - For the six months ended June 30, 2024, the profit attributable to owners of the Company was HK$17,981,000, a decrease of 19.0% compared to HK$22,406,000 for the same period in 2023[91]. - Basic earnings per share for the six months ended June 30, 2024, was HK$0.45, down from HK$0.56 in 2023, reflecting a decline of 19.6%[92]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to HK$1,913,269, a slight decrease from HK$1,914,701 as of December 31, 2023[12]. - Total non-current assets decreased to HK$280,993 from HK$515,130, indicating a significant reduction[12]. - Current assets increased to HK$1,632,276 from HK$1,399,571, reflecting a growth of approximately 16.6%[12]. - Total equity as of June 30, 2024, was HK$1,746,948, down from HK$1,756,500 at the end of 2023, representing a decrease of about 0.5%[13]. - Total liabilities increased to HK$166,321 from HK$158,201, marking an increase of approximately 5.3%[13]. - Cash and cash equivalents rose to HK$430,886 from HK$319,054, showing a significant increase of about 35%[12]. - Trade receivables under credit financing arrangements decreased slightly to HK$164,215 from HK$165,386[12]. - The total segment assets as of June 30, 2024, amounted to HK$1,755,906,000[74]. - The total segment liabilities as of June 30, 2024, were HK$125,768,000[73]. Expenses and Costs - Administrative expenses increased to HK$25,014,000 from HK$20,303,000, indicating a rise in operational costs[8]. - Employee benefit expenses increased to HK$20,451,000 for the six months ended June 30, 2024, up 54.3% from HK$13,247,000 in 2023[81]. - The total income tax expense for the six months ended June 30, 2024, was HK$10,764,000, slightly higher than HK$10,207,000 in 2023, representing an increase of 5.5%[85]. - Interest received during the first half of 2024 amounted to HK$752, compared to HK$4,823 in the same period of 2023[22]. - The company incurred payments for property, plant, and equipment totaling HK$644 and for intangible assets totaling HK$1,868 during the reporting period[22]. Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2024, was HK$120,207, compared to a net cash used of HK$12,126 in the same period of 2023, representing a significant improvement[22]. - Cash flows from investing activities generated a net cash inflow of HK$3,063 for the first half of 2024, down from HK$17,863 in the prior year[22]. - The company reported a net cash outflow from financing activities of HK$10,188 for the six months ended June 30, 2024, compared to a net cash inflow of HK$60,306 in the same period of 2023[22]. - The total cash and cash equivalents at the end of the period increased to HK$430,886, up from HK$378,239 at the end of June 2023[22]. Shareholder Information - The company declared dividends amounting to HK$11,954 to non-controlling interests during the period[15]. - A dividend of HK$15,890,000 was declared during the period[18]. - The company repurchased its own shares amounting to HK$1,110,000 during the period[18]. - The retained earnings at the end of the period were HK$544,725,000, reflecting a decrease from the previous period[18]. Segment Performance - For the six months ended June 30, 2024, the total segment revenue was HK$109,452,000, with sale and leaseback arrangements contributing HK$93,805,000, supply chain management and financial technology business contributing HK$13,513,000, and property leasing services contributing HK$2,134,000[66]. - The profit before income tax for the sale and leaseback arrangements services was HK$39,219,000, while the supply chain management and financial technology business reported a profit of HK$4,135,000, and property leasing services incurred a loss of HK$264,000[66]. - Revenue from supply chain management and financial technology services increased to HK$5,530,000 for the six months ended June 30, 2024, compared to HK$2,843,000 in the previous year, showcasing growth in this segment[144]. - The property leasing services segment recorded a loss of approximately HK$264,000 for the six months ended June 30, 2024, compared to a profit of approximately HK$2,197,000 in the same period in 2023[194]. Accounting and Valuation - The company has adopted new accounting standards effective from January 1, 2024, which include amendments to HKAS 1 and HKFRS 16, but these are not expected to have a significant impact on current or future periods[32]. - The Group's financial assets at fair value through profit or loss (FVPL) include listed equity securities valued at HK$2,086,000 as of June 30, 2024, down from HK$2,848,000 as of December 31, 2023, indicating a decrease of approximately 26.5%[54]. - The fair value of financial instruments traded in active markets is based on quoted market prices at the end of the reporting period, with the current bid price used for financial assets held by the Group[54]. - The Group's financial assets at FVPL are determined using quoted market prices, ensuring reliability in valuation[56]. Risk Management - The Group is focusing on strengthening its risk control system and developing an online risk management platform based on asset securitization and industry supply chain business[198]. - The Group's financial leverage ratio is being monitored to align with business requirements and cash flow situations[198]. - The Group plans to continue optimizing its management and control strategies to enhance risk management capabilities[198].
首惠产业金融(00730) - 2024 - 中期财报