Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 19,099,000, representing a significant increase from HKD 7,820,000 in the same period of 2023, reflecting a growth of 144.5%[5] - Gross profit for the same period was HKD 7,027,000, compared to HKD 2,188,000 in 2023, indicating a gross margin improvement[5] - Operating profit for the six months was HKD 7,710,000, a turnaround from an operating loss of HKD 1,144,000 in the previous year[5] - The company reported a loss before tax of HKD 6,470,000, which is an improvement from a loss of HKD 14,888,000 in the prior year[5] - Total comprehensive loss for the period was HKD 9,321,000, compared to HKD 6,603,000 in the same period last year[6] - The company reported a total loss of HKD 613,986,000 for the six months ended June 30, 2024, compared to a loss of HKD 611,625,000 for the same period in 2023[10] - The loss attributable to the company's owners decreased to approximately HKD 6,470,000, down from HKD 14,888,000 for the same period in 2023[47] Assets and Liabilities - Current assets totaled HKD 36,590,000 as of June 30, 2024, slightly down from HKD 39,008,000 at the end of 2023[8] - Current liabilities increased to HKD 563,993,000 from HKD 517,765,000, leading to a net current liability position of HKD 527,403,000[8] - The company’s total assets were reported at HKD 117,349,000 as of June 30, 2024, compared to HKD 102,849,000 in the previous year[10] - The company’s total liabilities increased slightly to HKD 421,517,000 as of June 30, 2024, from HKD 419,670,000 as of December 31, 2023[32] - Total borrowings increased to HKD 151,159,000 as of June 30, 2024, compared to HKD 147,679,000 as of December 31, 2023[35] - Trade receivables decreased to HKD 24,779,000 as of June 30, 2024, down from HKD 25,801,000 as of December 31, 2023, with an allowance for doubtful debts of HKD 7,293,000[27] - Trade payables rose to HKD 37,636,000 as of June 30, 2024, compared to HKD 36,417,000 as of December 31, 2023[31] Cash Flow - The company’s cash and cash equivalents stood at HKD 6,604,000, up from HKD 2,061,000 in the previous year[8] - Cash and cash equivalents increased to HKD 6,604,000 at the end of June 30, 2024, up from HKD 4,489,000 at the end of June 30, 2023[11] - The net cash used in operating activities was HKD (4,044,000) for the six months ended June 30, 2024, compared to HKD (1,126,000) for the same period in 2023[12] - The company generated net cash from financing activities of HKD 8,595,000 for the six months ended June 30, 2024, compared to HKD 5,283,000 in the previous year[12] Segment Performance - Revenue from the wastewater treatment segment was HKD 19,099,000 for the six months ended June 30, 2024, significantly up from HKD 7,820,000 in the same period of 2023[18] - The healthcare segment reported a profit of HKD 3,755,000 for the six months ended June 30, 2024, compared to a profit of HKD 8,043,000 in the previous year[18] - The total other income for the six months ended June 30, 2024, was HKD 11,846,000, an increase from HKD 9,589,000 in the same period of 2023[21] Shareholder Information - Major shareholder Jun Tu holds 53,429,000 shares, representing 21.18% of the issued share capital[63] - The beneficial owner Xu Zhongping holds 55,633,921 shares, accounting for 22.06% of the issued share capital[54] - The weighted average number of ordinary shares for calculating basic and diluted loss per share increased to 232,619,000 shares for the six months ended June 30, 2024, from 219,714,000 shares in the same period of 2023[24] - The total issued and paid-up ordinary shares increased from 223,218,000 shares (HKD 102,849,000) as of December 31, 2023, to 252,218,000 shares (HKD 117,349,000) as of June 30, 2024[43] Corporate Governance - The company has complied with the corporate governance code as per the listing rules during the six months ending June 30, 2024[67] - The internal control system has been reviewed annually by the board to ensure the reliability of financial reporting and compliance with applicable laws[68] - The audit committee consists of three independent non-executive directors who reviewed the accounting principles and practices adopted by the group[70] Future Outlook - Future outlook remains cautious due to ongoing market conditions and potential foreign exchange risks[5] - The group plans to explore investment opportunities in the new energy market, particularly focusing on the trends in the energy and power market reform[48] Other Information - The company has not reported any new product launches or significant market expansions during this period[5] - The company has no interim dividend declared for the six months ended June 30, 2024, consistent with the previous year[23] - The company did not incur any current tax expense for the period ended June 30, 2024, due to no taxable profits in Hong Kong[23] - The company has no other arrangements that would allow directors to benefit from acquiring shares or debt securities of the company or any other corporation during the reporting period[62] - The company has no other interests in shares or debt securities during the reporting period, apart from those disclosed[55]
中国环保科技(00646) - 2024 - 中期财报