Financial Performance - Revenue for the first half of 2024 reached HK$759,308,000, representing a 40.6% increase compared to HK$540,081,000 in 2023[6] - Gross profit for the period was HK$180,249,000, up 31.7% from HK$136,846,000 in the previous year[6] - Profit attributable to owners of the Company increased by 64.9% to HK$34,120,000 from HK$20,690,000[6] - Basic and diluted earnings per share rose to 6.79 HK cents, compared to 4.12 HK cents in 2023[6] - Net profit margin improved to 4.5%, up from 3.8% in the previous year[6] - Total revenue for the first half of 2024 reached approximately HK$759.3 million, a 40.6% increase compared to HK$540.1 million in the same period last year[8] - Gross profit amounted to approximately HK$180.2 million, representing a 31.7% increase from HK$136.8 million in the previous year[8] - Profit attributable to owners of the Company was approximately HK$34.1 million, up 64.9% from HK$20.7 million in the same period last year[8] - Basic earnings per share for the first half of 2024 were HK6.79 cents, up 64.8% from HK4.12 cents for the same period in 2023[23] - Total comprehensive income for the period was HK$14,394,000, significantly higher than HK$6,773,000 in 2023, marking a 112.5% increase[119] Financial Stability - Gearing ratio decreased to 51.1% from 57.8% in 2023, indicating improved financial stability[6] - Total borrowings over total assets ratio was 51.1%, reflecting a decrease in leverage[6] - The interest coverage ratio improved to 7.2 times, up from 2.9 times in the previous period[33] - Return on total assets increased to 4.3%, compared to 2.2% in the previous period[33] - Total borrowings decreased to HK$408.4 million from HK$495.8 million, primarily due to early repayments of loans from a related company[45] - The gearing ratio based on total borrowings over total assets decreased to 51.1% from 57.8%[45] - The current ratio remained stable at 1.0 time as of 30 June 2024, consistent with 31 December 2023[44] Revenue Sources - Revenue from package tours amounted to approximately HK$662.8 million, a 47.1% increase from HK$450.5 million in the first half of 2023, contributing 87.3% to the Group's total revenue[28] - Revenue from FIT Products and ancillary travel related products was approximately HK$38.9 million, a decrease of 3.1% from HK$40.1 million in the previous year, contributing 5.1% to total revenue[29] - Revenue from merchandise sales was approximately HK$0.4 million, a significant decrease of 91.2% from HK$4.5 million in the first half of 2023, contributing only 0.1% to total revenue[29] - Revenue from hotel operations increased by 22.4% to approximately HK$64.4 million, compared to HK$52.6 million for the six months ended June 30, 2023[32] - Revenue from external customers amounted to approximately HK$57.2 million, contributing 7.5% to the Group's total revenue, down from 8.3% in the previous period[32] Strategic Initiatives - The Company is focusing on market expansion and new product development strategies to drive future growth[6] - The management anticipates continued revenue growth in the upcoming quarters due to increased user engagement and market demand[6] - The Group launched the "Package Tours of Sam's Club in Shenzhen," attracting over 5,000 customer applications within one week, exceeding expectations[10] - The Group introduced the "Century Oasis" special cruise of the Three Gorges of Yangtze River, enhancing its in-depth tour offerings in China[10] - New thematic FIT packages were launched, incorporating elements such as major sports events and exclusive concert tickets, to enhance product diversity[11] - The Group is actively expanding and optimizing its sales network to provide a diverse range of travel products, enhancing customer experiences and creating unforgettable travel memories[21] - The Group plans to increase human resources, optimize sales management, and launch a customer loyalty program to maintain its competitive edge[21] - The Group aims to book and arrange charter flight and cruise seats as part of its strategy to broaden income sources[21] Employee and Community Engagement - The Group encourages employee participation in environmental protection initiatives, such as the "Earth Hour" campaign and recycling programs[17] - The Group has implemented employee wellness programs, including a DIY cloth bag painting workshop and an Employee Assistance Programme to support mental health[20] - The Group actively hires retired individuals to re-enter the job market, contributing to community engagement and social responsibility[16] - The Group collaborates with educational institutions to provide internships and employment opportunities for students in tourism and hospitality[16] - The Group has committed to helping those in need, donating a total of 15 million Japanese Yen and 3 million New Taiwan Dollars for disaster relief efforts in Japan and Taiwan respectively[19] Shareholder Information - The Group's directors hold a total of 1,496,000 shares, representing approximately 0.30% of the issued share capital as of June 30, 2024[77] - As of June 30, 2024, Evergloss Management holds 301,642,000 shares, representing approximately 60.03% of the issued share capital of the company[85] - Alpadis Trust (HK) Limited, as trustee, holds 340,018,000 shares, accounting for approximately 67.67% of the issued share capital[85] - The total number of shares held by Kwok Lai Holdings Limited is 16,728,000[79] - The total number of shares held by Mr. Yuen in Evergloss is 5,850, representing approximately 17.65% of the interest in the associated corporation[81] Corporate Governance - The Group is committed to high standards of corporate governance and has complied with all applicable code provisions during the reporting period[74] - The Group's interim results for the six months ended June 30, 2024, have been reviewed by the audit committee and independent auditor BDO Limited[100] - The financial statements have been prepared in accordance with Hong Kong Accounting Standard 34, requiring the use of certain judgments, estimates, and assumptions[128] Future Outlook - The Group expects continued growth in outbound travel demand in 2024, maintaining a cautiously optimistic outlook on Hong Kong's vibrant economy despite market fluctuations[61] - The Group's performance is expected to improve steadily in the foreseeable future, supported by a strong corporate image and customer loyalty[22] - The Group plans to explore additional sources of income to expedite financial goals and enhance competitiveness in the evolving travel market[66]
东瀛游(06882) - 2024 - 中期财报