Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 149,889,000, a decrease of 3.8% from HKD 154,759,000 in the same period of 2023[2] - Operating profit for the period was HKD 8,617,000, down 22.9% from HKD 11,186,000 in the previous year[2] - Net profit attributable to equity shareholders was HKD 7,231,000, a decline of 20% compared to HKD 9,031,000 in the prior year[2] - Basic and diluted earnings per share decreased to HKD 1.44 from HKD 1.80, representing a drop of 20%[2] - The company reported a total comprehensive income of HKD 7,049,000 for the period, down from HKD 9,041,000 in the previous year[2] - The company reported a pre-tax profit of HKD 8,408,000 for the six months ended June 30, 2024, compared to HKD 11,027,000 in the same period of 2023, indicating a decrease of 23.9%[15] - The company recorded a profit of approximately HKD 7 million for the six months ended June 30, 2024, representing a decrease of about 22.0% compared to the same period in 2023[38] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 187,367,000, down from HKD 263,730,000 as of December 31, 2023[3] - Current liabilities decreased to HKD 129,555,000 from HKD 180,220,000, indicating improved liquidity[3] - Non-current assets increased significantly to HKD 96,441,000 from HKD 33,007,000, primarily due to the rise in right-of-use assets[3] - The total equity attributable to equity shareholders decreased to HKD 109,171,000 from HKD 113,271,000, reflecting a reduction in retained earnings[4] - The total trade receivables (net of impairment) as of June 30, 2024, were HKD 73,161,000, a decrease of 27.8% from HKD 100,993,000 as of December 31, 2023[25] - Trade and other payables decreased to HKD 85,184,000 as of June 30, 2024, down 40.4% from HKD 142,754,000 as of December 31, 2023[26] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2024, was HKD 71,847,000, a significant increase from HKD 25,673,000 in the same period of 2023, representing a growth of 179%[6] - The net cash and cash equivalents increased to HKD 67,164,000 at the end of the period, compared to HKD 42,524,000 at the end of June 2023, marking a growth of 58%[6] - The company's cash and cash equivalents as of June 30, 2024, were approximately HKD 67,200,000, an increase from HKD 38,000,000 as of December 31, 2023[40] Expenses - Employee benefits expenses increased to approximately HKD 30.4 million for the six months ended June 30, 2024, up from HKD 27.9 million in the previous year[35] - The company reported total other expenses of HKD 8,149,000 for the six months ended June 30, 2024, an increase of 9.6% compared to HKD 7,435,000 for the same period in 2023[18] - The company's transportation expenses increased to HKD 1,900,000 for the six months ended June 30, 2024, up 11.6% from HKD 1,703,000 for the same period in 2023[18] - The company’s insurance expenses rose to HKD 941,000 for the six months ended June 30, 2024, an increase of 7.9% compared to HKD 872,000 for the same period in 2023[18] Revenue Breakdown - Supply chain management services revenue decreased to HKD 73,210,000 from HKD 77,123,000, reflecting a decline of 5% year-over-year[10] - Market planning and sales revenue also saw a decrease, falling to HKD 76,679,000 from HKD 77,636,000, a decline of 1.2%[10] - Revenue from supply chain management services fell by about 5.1%, from HKD 77.1 million to HKD 73.2 million during the same period[34] - Revenue from marketing and sales services decreased by approximately 1.2%, from HKD 77.6 million to HKD 76.7 million, attributed to a decline in demand for disinfectant products and more conservative consumer spending[34] Dividends - The company paid dividends amounting to HKD 20,074,000, an increase of 33% from HKD 15,056,000 in the previous year[6] - The company declared a special dividend of HKD 0.02 per share, totaling approximately HKD 10,037,000, compared to HKD 0.03 per share totaling HKD 15,056,000 for the previous year[20] - The company declared an interim dividend of HKD 0.01 per share, totaling approximately HKD 5,018,000, to be paid on or around September 30, 2024[39] Strategic Focus - The company plans to focus on expanding its market presence and enhancing operational efficiency in the upcoming quarters[2] - The company continues to focus on supply chain management and market planning as its primary business segments, with no significant changes in operational strategy reported[12] - The company continues to expand its distribution network and has signed a contract with a European chocolate manufacturer to act as its official distributor in Hong Kong and Macau[31] - The company is focusing on enhancing its cold chain services through collaboration with a multinational food and beverage processing group[31] - The management remains cautious about the company's performance in the second half of 2024 due to potential ongoing global economic recession[33] Governance and Compliance - The company has established an audit committee to ensure effective internal controls and risk management[61] - The company believes that the board's composition ensures a balance of power and authority[60] - The company’s financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance with applicable regulations[8] - The company has not applied any new accounting standards or interpretations that have not yet come into effect during the reporting period[9] Shareholding Structure - The company’s major shareholders include individuals with significant holdings, such as Mr. Li with 29.44% of the issued share capital[51] - Best Matrix Global Limited holds 143,796,000 shares, representing 28.65% of the company's issued share capital[54] - Leader Speed Limited owns 76,060,000 shares, accounting for 15.16% of the company's issued share capital[54] - Orange Blossom International Limited has 82,088,000 shares, which is 16.36% of the company's issued share capital[54] - Ms. Luo Huiyi, as a spouse, holds 97,200,000 shares, equating to 19.37% of the company's issued share capital[54] - Ms. Chen Bixian, as a spouse, possesses 147,764,000 shares, representing 29.44% of the company's issued share capital[54] - Ms. Huang Sufeng, as a spouse, owns 81,912,000 shares, which is 16.32% of the company's issued share capital[54] Employment - The company employed 191 full-time employees as of June 30, 2024, a decrease from 206 employees as of December 31, 2023[47] Risk Management - The company has no foreign currency hedging policy but will monitor foreign exchange risks continuously[42] - The company confirmed no significant capital commitments as of June 30, 2024[44] - The company reported no significant acquisitions or disposals during the reporting period ending June 30, 2024[46]
环宇物流(亚洲)(06083) - 2024 - 中期财报