Workflow
利基控股(00240) - 2024 - 中期财报

Financial Performance - The group recorded revenue of HKD 6,500,000,000 for the six months ended June 30, 2024, an increase of 8% compared to HKD 6,000,000,000 in the same period last year[33]. - Profit attributable to the company's owners decreased by 41% to HKD 148,000,000 from HKD 250,000,000 in the previous year, primarily due to a reduction in gross profit[33]. - The group’s construction contract revenue totaled HKD 6,400,000,000, up from HKD 5,900,000,000 in the previous year, with a decrease in segment profit to HKD 207,000,000 from HKD 452,000,000[34]. - Service revenue for the six months ended June 30, 2024, was HKD 6,472,335 thousand, an increase of 8.3% from HKD 5,973,534 thousand in the same period of 2023[61]. - Gross profit for the same period was HKD 527,328 thousand, down 22.1% from HKD 677,305 thousand year-on-year[61]. - Profit before tax for the six months was HKD 167,888 thousand, a decrease of 49.1% compared to HKD 329,486 thousand in the previous year[61]. - Net profit for the period was HKD 145,635 thousand, down 41.0% from HKD 246,959 thousand in the same period of 2023[61]. - Total comprehensive income for the period was HKD 136,308 thousand, down 40.5% from HKD 228,889 thousand in the same period of 2023[62]. Dividends and Shareholder Information - The group declared an interim dividend of HKD 0.03 per share, down from HKD 0.04 per share in the previous year[32]. - The board declared an interim dividend of HKD 0.03 per share for the six months ended June 30, 2024, compared to HKD 0.04 per share for the same period last year[43]. - The total number of shares held by the major shareholder, Top Horizon Holdings Limited, was 724,435,033, representing a 58.33% stake in the company[49]. Assets and Liabilities - As of June 30, 2024, total assets amounted to HKD 6,848,292 thousand, an increase from HKD 6,625,288 thousand as of December 31, 2023, reflecting a growth of approximately 3.4%[63]. - Non-current assets decreased to HKD 885,039 thousand from HKD 1,692,454 thousand, representing a decline of about 47.8%[63]. - Current liabilities decreased to HKD 5,225,107 thousand from HKD 5,500,139 thousand, a reduction of approximately 5%[63]. - The total liabilities decreased to HKD 2,508,224 thousand from HKD 2,817,603 thousand, a decrease of about 10.9%[64]. - The company's inventory decreased to HKD 450,893 thousand from HKD 480,705 thousand, reflecting a reduction of approximately 6.2%[63]. - The group’s cash flow management includes internal credit ratings for construction contracts to mitigate credit risk[94]. Cash Flow and Financing Activities - Cash and cash equivalents amounted to HKD 1,131 million as of June 30, 2024, down from HKD 1,300 million as of December 31, 2023[39]. - The net cash generated from operating activities for the six months ended June 30, 2024, was HKD 33,068 thousand, a significant improvement from a net cash used of HKD (35,882) thousand in the same period of 2023[67]. - The net cash used in investing activities was HKD (19,014) thousand, a significant reduction from HKD (655,922) thousand in the same period of 2023[67]. - The company reported a decrease in total cash outflows for financing activities to HKD (185,560) thousand from HKD (109,058) thousand in the previous year[67]. - The company raised new bank loans amounting to HKD 100,057 thousand during the financing activities, compared to HKD 129,580 thousand in the previous year[67]. Employee and Operational Metrics - As of June 30, 2024, the group had 3,693 employees, an increase from 3,601 employees as of December 31, 2023, with total employee costs amounting to HKD 939 million, up from HKD 832 million in the previous year[38]. - The average steam supply from the group’s four operational steam plants increased by 15% to 91 tons per hour from 79 tons per hour in the previous year[35]. Investments and Acquisitions - The group acquired 20% of RTL's issued shares for HKD 15.7 million and a shareholder loan of HKD 800 million, totaling HKD 800.0157 million[90]. - The company acquired 100% equity of Tian En Investment Limited and Real Best Development Limited for approximately HKD 136,532,000 and HKD 232,485,000 respectively, with both acquisitions recorded as asset purchases[111]. - The cash consideration paid for the acquisitions of Tian En Group and Real Best Group was HKD 13,653,000 and HKD 23,248,000 respectively[114]. Legal and Compliance Matters - The group expects to incur a loss of HKD 36,000,000 related to the termination of a land sharing project agreement in Hong Kong[36]. - The company has complied with the corporate governance code except for the separation of roles between the Chairman and the CEO[51]. - The audit committee reviewed the accounting policies and the unaudited interim financial information for the six months ended June 30, 2024[54].