Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 44,505,000, an increase from RMB 34,068,000 in the same period of 2023, representing a growth of 30.0%[4]. - Gross profit decreased to RMB 9,117,000 from RMB 12,699,000 year-on-year, reflecting a decline of 28.8%[4]. - Loss before taxation for the period was RMB 22,803,000, compared to a loss of RMB 20,719,000 in the previous year, indicating a worsening of 10.1%[4]. - Total comprehensive expense for the period was RMB 21,120,000, significantly higher than RMB 10,649,000 in the same period last year, marking an increase of 98.3%[4]. - Loss per share for the period was RMB 0.45 cents, compared to RMB 0.43 cents in the previous year, reflecting a slight increase of 4.7%[4]. - The company reported a loss for the period attributable to owners of the company of RMB 22,149,000, compared to RMB 21,308,000 in the previous year, an increase of 3.9%[4]. - The Group reported a segment profit of RMB 8,345,000 from the money lending business, while the eCommerce segment incurred a loss of RMB 1,695,000[14]. - The total loss before taxation for the Group was RMB 22,803,000, compared to a loss of RMB 20,719,000 for the same period in 2023[14][15]. - The Group's loss for the six months ended 30 June 2024 was approximately RMB21.1 million, compared to a loss of approximately RMB10.6 million for the same period in 2023, indicating an increase in loss of about 99%[63]. - The basic loss per share for the six months ended 30 June 2024 was approximately RMB0.45 cents, slightly higher than RMB0.43 cents for the same period in 2023[63]. Assets and Liabilities - As of June 30, 2024, total assets amounted to RMB 381,629,000, a decrease from RMB 410,776,000 as of December 31, 2023, reflecting a decline of approximately 7.1%[5]. - Current liabilities increased significantly to RMB 270,132,000 from RMB 86,981,000, indicating a rise of approximately 210.5%[5]. - The net current assets decreased to RMB 26,995,000 from RMB 241,774,000, representing a decline of about 88.8%[5]. - The company's total equity decreased to RMB 107,848,000 as of June 30, 2024, down from RMB 128,968,000 as of December 31, 2023, a decline of about 16.4%[5]. - Trade receivables significantly decreased to RMB 19,002,000 from RMB 48,741,000, indicating a reduction of approximately 61.0%[5]. - Loan receivables at the end of the reporting period totaled RMB 193,525,000, a decrease of 9.6% from RMB 214,095,000 as of December 31, 2023[33]. - Trade payables as of June 30, 2024, were RMB 38,126,000, down 43.9% from RMB 67,781,000 as of December 31, 2023[38]. - The Group's outstanding promissory notes as of 30 June 2024 were approximately RMB218.3 million, an increase from approximately RMB198.9 million as of 31 December 2023[63]. - The Group's gearing ratio as of 30 June 2024 was approximately 57.9%, up from approximately 49.1% as of 31 December 2023[63]. Cash Flow - The company reported a net cash used in operating activities of RMB 21,511,000 for the six months ended June 30, 2024, compared to a net cash used of RMB 7,988,000 in the same period of 2023[7]. - Cash and cash equivalents at the end of the period were RMB 51,557,000, an increase from RMB 35,655,000 at the end of June 30, 2023, reflecting a growth of approximately 44.6%[7]. - The Group's bank balances and cash as of 30 June 2024 were approximately RMB51.6 million, an increase from approximately RMB32.3 million as of 31 December 2023[63]. Business Strategy and Operations - The company is focusing on expanding its market presence and enhancing product offerings to drive future growth[4]. - Management indicated ongoing efforts in new product development and technology advancements to improve operational efficiency[4]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its portfolio[4]. - The Group aims to seek growth in loans with reasonable returns and manage capital costs to increase net interest income in its money lending business[65]. - The Group will implement a prudent and flexible marketing strategy in its eCommerce business to expand its customer base and diversify its product offerings[65]. - The Group plans to continue pursuing long-term growth in business and profit while adopting a prudent approach to capital management and liquidity risk management[65]. - The Group is strengthening its internal R&D team and plans to establish branch companies in Southeast Asia to manage local business more effectively[66]. - The Group plans to invest more resources in the space-time intelligence industry in Southeast Asia, which is expected to be the fastest-growing region for smart city development over the next five years[66]. Market and Economic Environment - In the first half of 2024, Hong Kong's GDP grew by 5.0% year on year, with Q2 growth at 4.7%, lower than Q1's performance[50]. - The unemployment rate in the U.S. increased from 3.8% in March to 3.9% in April and remained at 3.9% in May, indicating signs of economic cooling[50]. - The global economic growth is projected at 2.7% in 2024 and 2.8% in 2025, slightly higher than previous forecasts[50]. - The geopolitical risks, high inflation, and interest rates have affected investor sentiment in financial markets, leading to conservative business expansion among corporates[50]. - The management anticipates easing inflationary pressure and plans to regularly review and adjust strategies with a prudent approach[50]. Corporate Governance and Compliance - The Group has complied with all relevant laws and regulations regarding its money lending business, with no objections or investigations reported since the first granting of the money lenders license[71]. - The Company has adopted the principles of the Corporate Governance Code and has complied with all applicable code provisions during the six months ended June 30, 2024[74]. - All Directors have confirmed compliance with the required standards for securities transactions during the six months ended June 30, 2024[75]. Share Capital and Options - The total issued and fully paid share capital as of June 30, 2024, was RMB 337,128,000, unchanged from December 31, 2023[40]. - The number of options granted to any individual in a year cannot exceed 1% of the company's issued shares without prior shareholder approval[89]. - As of June 30, 2024, the maximum number of shares that may be issued upon exercise of options under the New Scheme is 397,544,800 shares, representing approximately 10% of the total shares in issue[88]. - The company's old share option scheme expired on June 6, 2020, after granting a total of 200,000,000 share options under a mandate for up to 204,922,800 shares[84]. Management Changes - The Company announced the resignation of Dr. Chen Huabei as executive director on 2 July 2024, and Mr. Lu Yongchao on 2 September 2024, both citing the need to focus on other business engagements[44].
赛伯乐国际控股(01020) - 2024 - 中期财报