Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 111,185,000, a decrease of 11.1% from HKD 125,076,000 in the same period of 2023[6] - Gross profit increased to HKD 72,610,000, up 4.3% from HKD 69,547,000 year-on-year[6] - Profit before tax was HKD 4,642,000, down 38.5% from HKD 7,505,000 in the previous year[6] - Net profit for the period was HKD 4,244,000, slightly up from HKD 4,080,000 in 2023, representing a growth of 4.0%[6] - Total comprehensive income for the period was HKD 6,496,000, compared to HKD 7,540,000 in the same period last year, a decrease of 13.8%[6] - Basic and diluted earnings per share increased to HKD 0.40, up from HKD 0.38 in the previous year, reflecting a growth of 5.3%[6] Assets and Liabilities - Non-current assets totaled HKD 333,315,000, an increase from HKD 327,941,000 as of December 31, 2023[8] - Current assets amounted to HKD 256,462,000, a slight decrease from HKD 260,501,000 at the end of 2023[8] - Current liabilities increased to HKD 336,929,000 from HKD 323,434,000, resulting in a net current liability of HKD 80,467,000[8] - As of June 30, 2024, the total equity of the company is HKD 149,664,000, an increase from HKD 143,168,000 as of December 31, 2023, representing a growth of 4.4%[9] - The company's total liabilities decreased from HKD 121,840,000 as of December 31, 2023, to HKD 103,184,000 as of June 30, 2024, reflecting a reduction of 15.4%[9] - Total assets as of June 30, 2024, amounted to HKD 589,777,000, while total liabilities were HKD 440,113,000, resulting in a net asset position[22] Cash Flow and Operating Activities - The net cash generated from operating activities for the six months ended June 30, 2024, is HKD 34,780,000, compared to HKD 16,148,000 for the same period in 2023, indicating a significant increase of 115.1%[12] - The cash and cash equivalents decreased to HKD 17,096,000 as of June 30, 2024, from HKD 25,023,000 in the previous year, a decline of 31.7%[12] - The company reported a foreign exchange gain of HKD 2,252,000 from the translation of foreign operations[6] Borrowings and Financial Obligations - The company has a total borrowing amount of approximately HKD 145,622,000, with short-term borrowings of about HKD 137,752,000 as of June 30, 2024[14] - The company has secured a loan facility of HKD 120,000,000 at a fixed annual interest rate of 8%, which is due within 24 months from the drawdown date[14] - The company incurred other loan interest expenses of HKD 2,064,000 during the period[21] - Bank borrowings decreased to HKD 15,096,000 from HKD 20,383,000, a reduction of approximately 26.1%[44] - Non-bank borrowings also fell to HKD 16,738,000 from HKD 22,324,000, representing a decrease of about 25.2%[44] - The total borrowings as of June 30, 2024, were HKD 31,834,000, down from HKD 42,707,000, marking a decline of approximately 25.6%[44] Revenue Breakdown - Revenue from the Hong Kong market for the construction equipment business was HKD 60,015,000, an increase of 48.8% from HKD 40,334,000 in the previous year[24] - Revenue from Singapore decreased to HKD 39,083,000, down 14.4% from HKD 45,637,000 in the same period last year[24] - Revenue for the construction equipment business for the six months ended June 30, 2024, was HKD 111,185,000, a decrease of 11.1% from HKD 125,076,000 in the same period of 2023[26] - Service income increased to HKD 32,657,000, up 39.9% from HKD 23,314,000 year-on-year[26] - Rental income from self-owned factories and machinery was HKD 75,541,000, an increase of 10.2% compared to HKD 68,177,000 in the previous year[26] Shareholder Information - Major shareholders hold a total of 600,020,000 shares, representing approximately 56.60% of the issued shares[72] - Kaisa Group Holdings Limited is considered to have a controlled interest in the same shares held by Sheng Jun Group, amounting to 324,420,000 shares or about 30.60% of the issued shares[73] - Excel Range Investments Limited holds 275,600,000 shares, equivalent to approximately 26.00% of the issued shares, with ownership shared among three individuals[73] - The total number of issued shares is 1,060,000,000[73] Corporate Governance - The company has complied with all corporate governance codes as per the listing rules during the reporting period[76] - The independent auditor has reviewed the interim financial report in accordance with the relevant Hong Kong review standards[77] - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[79] - There are no disclosure obligations under Listing Rule 13.21 during the reporting period[78] - The company has confirmed that all directors adhered to the standard code of conduct for securities trading throughout the period[79]
佳兆业资本(00936) - 2024 - 中期财报