Financial Performance - For the first half of 2024, the company's revenue and other income amounted to HKD 285 million, a decrease of 40.9% compared to HKD 482 million in the first half of 2023[2]. - The loss attributable to shareholders for the first half of 2024 was HKD 355 million, compared to a loss of HKD 373 million in the same period of 2023, indicating a slight improvement[2]. - The basic/diluted loss per share for the first half of 2024 was HKD 0.14, compared to HKD 0.13 in the first half of 2023[2]. - The company reported a loss of HKD 355.3 million for the first half of 2024, an improvement from a loss of HKD 373.2 million in the same period of 2023[5]. - The company reported a net loss of HKD 355,288 thousand for the period ending June 30, 2024, compared to a loss of HKD 373,225 thousand for the same period in 2023, showing an improvement of approximately 4.5%[40]. - The company reported a pre-tax loss of HKD 358,524 thousand, slightly improved from HKD 368,664 thousand in the previous year[36]. Assets and Liabilities - Total assets as of the first half of 2024 were HKD 17,162 million, down from HKD 18,211 million in the first half of 2023, reflecting a decrease of 5.8%[2]. - The equity attributable to shareholders was HKD 1,579 million in the first half of 2024, down from HKD 1,797 million in the first half of 2023, representing a decline of 12.2%[2]. - Total liabilities decreased from HKD 16,414,406 thousand to HKD 15,583,763 thousand, a reduction of about 5.06%[39]. - The company's total liabilities decreased to HKD 9,068,318,000 as of June 30, 2024, from HKD 10,257,749,000 as of December 31, 2023, reflecting a decline of 11.6%[84]. - The company's cash and bank balances increased to HKD 1,591,548,000 as of June 30, 2024, compared to HKD 1,299,438,000 as of December 31, 2023, marking a rise of 22.5%[81]. Revenue Streams - The company reported a significant decrease in asset management and advisory revenue, which fell to HKD 30 million in the first half of 2024 from HKD 68 million in the same period of 2023, a drop of 55.9%[2]. - Commission and fee income from the securities brokerage business was HKD 42.3 million, a decrease of HKD 5.6 million or 11.5% compared to HKD 47.9 million in the same period of 2023[6]. - Commission and fee income from corporate finance and underwriting services was HKD 33.7 million, an increase of HKD 28.6 million or 560.6% compared to HKD 5.1 million in the same period of 2023[8]. - Total revenue for the brokerage segment was HKD 47,797,000, while corporate finance and underwriting generated HKD 33,717,000[49]. - The asset management and advisory segment reported revenue of HKD 46,171,000, and margin financing contributed HKD 33,766,000[49]. Market Activity - The number of new IPOs on the Hong Kong Stock Exchange in the first half of 2024 was 29, a decrease of 6.45% compared to the same period in 2023[4]. - The total amount raised from IPOs in the first half of 2024 was HKD 13.15 billion, down 26.04% from the same period in 2023[4]. - The Hang Seng Index increased by 3.94% in the first half of 2024, with notable performance in the energy, materials, and communication services sectors[4]. Operational Strategy - The company aims to enhance its market presence and explore new strategies in response to the evolving economic landscape[4]. - The company is focusing on a transition to a light-asset operating model while enhancing licensed business capabilities[5]. - The company aims to transform towards a light-asset business model while enhancing its financial service capabilities through technology and green finance initiatives[26]. - The company continues to focus on its core business areas, including securities brokerage, margin financing, and asset management, as part of its strategic direction[43]. Risk Management - The group faces significant risks including currency risk, interest rate risk, credit risk, liquidity risk, and operational risk, which are actively managed to ensure financial stability[20][21][22][23][24]. - The group has implemented measures to monitor and mitigate credit risk, including regular assessments of borrowers' financial conditions and repayment histories[22]. - The company has implemented measures to effectively manage credit risk, including thorough due diligence on potential clients[99]. Employee and Governance - As of June 30, 2024, the total employee cost reached approximately HKD 173.7 million, with a total of 535 employees[25]. - The company has complied with all corporate governance codes as of June 30, 2024[32]. - The company is focused on improving employee skills through comprehensive training programs[25]. Future Outlook - The company anticipates a recovery in global economic conditions in the second half of 2024, driven by core service inflation in the US and easing financial conditions in the Eurozone[26].
交银国际(03329) - 2024 - 中期财报