Financial Performance - The company reported a profit attributable to owners of $165,000 for the six months ended June 30, 2024, compared to $297,000 for the same period in 2023, representing a decrease of 44.4%[2] - Total revenue for the six months was $3,232,000, an increase of 4.8% from $3,085,000 in the previous year[3] - Gross profit increased to $1,968,000, up 3.9% from $1,895,000 year-on-year[3] - The company recorded a pre-tax profit of $152,000, down 19.6% from $189,000 in the prior period[3] - Other comprehensive income for the period was $707,000, compared to $205,000 in the previous year, indicating a significant increase of 244.9%[3] - Basic earnings per share for the six months ended June 30, 2024, were $0.000226, down from $0.000406 for the same period in 2023[25] - Basic earnings per share for the six months ended June 30, 2024, were $0.02, compared to $0.04 for the same period in 2023[36] Revenue Breakdown - Revenue from the production and sale of footwear products reached $1,033,000 for the six months ended June 30, 2024, compared to $784,000 for the same period in 2023, representing a growth of 32%[15] - Total revenue for the company was $3,232,000 for the six months ended June 30, 2024, an increase of 4.8% from $3,085,000 in the same period of 2023[15] - Rental income from properties was $2,199,000 for the six months ended June 30, 2024, slightly down from $2,301,000 in the same period of 2023, a decrease of 4.4%[15] Cash Flow and Assets - The net cash generated from operating activities was $498,000, a decrease of 73.8% from $1,899,000 in the same period last year[8] - The company’s total assets as of June 30, 2024, were $95,759,000, slightly down from $95,814,000 at the end of 2023[4] - The company’s cash and cash equivalents at the end of the period were $9,496,000, down from $10,535,000 at the end of the previous period[8] - Trade receivables decreased to $356,000 as of June 30, 2024, from $702,000 as of December 31, 2023, representing a decline of 49.3%[29] - Other receivables increased to $2,385,000 as of June 30, 2024, from $1,016,000 as of December 31, 2023, an increase of 134.5%[28] - Total trade and other payables increased to $2,703,000 as of June 30, 2024, from $2,137,000 as of December 31, 2023, an increase of 26.5%[30] Equity and Dividends - The company declared no dividends during the period, compared to dividends paid of $942,000 in the previous year[6] - The company’s total equity as of June 30, 2024, was $78,710,000, a slight decrease from $78,780,000 at the end of 2023[4] - The company declared a final dividend of $942,000 for the year ended December 31, 2023, compared to no dividend declared for the same period in 2023[24] Operational Insights - Employee costs totaled $1,401,000 for the six months ended June 30, 2024, up from $1,142,000 in the same period of 2023, an increase of 22.6%[21] - The company incurred interest expenses on lease liabilities of $18,000 for the six months ended June 30, 2024, down from $21,000 in the same period of 2023, a decrease of 14.3%[19] - The company invested approximately $29,000 in property, plant, and equipment for the six months ended June 30, 2024, compared to $34,000 in the same period of 2023[27] - The company did not recognize any valuation changes for its investment properties during the reporting period, as the carrying value was deemed to be in line with fair value assessments[26] Strategic Outlook - The company plans to adjust its operational strategies in response to the uncertain global political landscape and economic conditions[38] - The company will be cautious in seeking new tenants for its idle factory rental business, focusing on the financial capabilities of potential tenants[38] - The company aims to maintain financial stability while navigating the challenges posed by a potentially declining global economy[37] Governance and Compliance - The company has complied with the corporate governance code as stipulated in the listing rules during the reporting period[48] - The audit committee reviewed the group's unaudited consolidated financial information for the six months ended June 30, 2024, discussing risk management and internal control matters[50] Shareholding Structure - As of June 30, 2024, the directors and their associates held a total of 9 million shares, representing 1.23% of the issued share capital[41] - Pegasus Footgear Management Limited, the holding company, owns 468,743,940 shares, accounting for 64% of the issued share capital[44] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the six months ended June 30, 2024[47]
创信国际(00676) - 2024 - 中期财报