Financial Performance - The company recorded revenue of HKD 66,207,000 for the six months ended June 30, 2024, representing a 105% increase compared to HKD 32,300,000 for the same period in 2023[6]. - Gross profit for the same period was HKD 6,676,000, up 195% from HKD 2,265,000 in the previous year[6]. - The company reported a loss of HKD 766,000, significantly improved from a loss of HKD 8,128,000 in the prior year[6]. - Other comprehensive income amounted to HKD 4,476,000, compared to a loss of HKD 4,866,000 in the same period last year[6]. - The basic loss per share was HKD 0.11, improved from HKD 0.35 in the same period last year[6]. - Total comprehensive income for the period was HKD 3,710,000, a recovery from a total comprehensive loss of HKD 12,994,000 in the previous year[29]. - The net loss for the period was HKD 766,000, a significant improvement from HKD 8,128,000 in the previous year, reflecting better financial management[27]. - The operating loss decreased to HKD 701,000 from HKD 8,015,000 year-on-year, showing a substantial reduction in operational inefficiencies[27]. Segment Performance - The electronics solutions segment generated revenue of HKD 43,130,000, a 34% increase from HKD 32,300,000 in the previous year, with a profit of HKD 2,616,000 compared to a loss of HKD 3,381,000[8]. - The metal sales segment achieved revenue of HKD 23,077,000, with a loss of HKD 253,000, primarily due to unrealized foreign exchange losses[7]. - The property development segment in Australia recorded a loss of HKD 640,000, an improvement from a loss of HKD 868,000 in the previous year, with no revenue generated[9]. - Reported segment profit for the six months ended June 30, 2024, was HKD 1,723,000, a significant improvement from a loss of HKD 3,942,000 in the same period of 2023[46]. Assets and Liabilities - As of June 30, 2024, the group's current assets amounted to HKD 323,290,000, with cash and bank balances at HKD 79,574,000[14]. - The group's current ratio remained strong at 7.1 times as of June 30, 2024, compared to 7.8 times on December 31, 2023[14]. - The group's equity attributable to owners was HKD 359,293,000 as of June 30, 2024, up from HKD 356,670,000 on December 31, 2023[14]. - The group's debt-to-equity ratio was low at 0.2% as of June 30, 2024, compared to 0.5% on December 31, 2023[14]. - The company's total assets less current liabilities increased to HKD 367,252,000 as of June 30, 2024, from HKD 363,674,000 at the end of 2023[31]. - The total liabilities of the segments were HKD 44,390,000 as of June 30, 2024, compared to HKD 40,115,000 as of December 31, 2023[45]. Cash Flow - The net cash used in operating activities was HKD 3,261,000, an improvement from HKD 4,806,000 in the same period last year[35]. - The company generated net cash from investing activities of HKD 1,801,000, compared to HKD 158,000 in the previous year[35]. - Cash and cash equivalents at the end of the period were HKD 79,574,000, down from HKD 86,832,000 a year earlier[35]. Employee and Cost Management - The number of employees decreased to approximately 191 from 246, with total employee costs amounting to HKD 9,303,000, down from HKD 11,128,000 in 2023[18]. - The company incurred employee costs of HKD 9,303,000 for the six months ended June 30, 2024, down from HKD 11,128,000 in the same period of 2023, indicating cost management efforts[47]. Planning and Development - The company has received planning approval for its property development in Canterbury Bankstown, New South Wales, allowing it to proceed with development plans[9]. - The group is actively pursuing planning proposals for a healthcare facility on a significant land parcel, with expected development approval within 12 to 18 months[10]. - The group has submitted a planning proposal to increase the height limit of the land from 12 meters to 45.5 meters, allowing for greater building area[10]. - The group is in discussions with potential operators for healthcare and medical facilities, with the final planning phase contingent on selecting a preferred operator[10]. Financial Stability and Governance - The group has no significant contingent liabilities or asset pledges as of June 30, 2024, indicating a stable financial position[17]. - There were no significant events affecting the group after the reporting period, indicating stability moving forward[21]. - The board confirmed compliance with all applicable corporate governance codes during the reporting period[64]. - The company declared no interim dividend for the six months ended June 30, 2024, consistent with the previous period[54]. Market Performance - Revenue from customers located in the People's Republic of China (excluding Hong Kong) was HKD 43,130 thousand, indicating strong market performance in that region[43]. - The fair value of financial assets listed in Singapore increased from HKD 36,877 thousand as of December 31, 2023, to HKD 45,864 thousand as of June 30, 2024, reflecting a growth of 24.5%[40]. Environmental and Risk Management - Environmental sustainability remains a focus, with initiatives in place to promote resource conservation and waste reduction[19]. - The group plans to closely monitor foreign exchange risks, particularly related to fluctuations in the Australian dollar and Singapore dollar[16].
海亮国际(02336) - 2024 - 中期财报