Financial Performance - G-Resources reported a significant increase in revenue, achieving a total of $150 million for the first half of 2024, representing a 25% growth compared to the same period last year[9]. - The company’s net profit for the first half of 2024 was $30 million, which is a 15% increase year-over-year[9]. - G-Resources has outlined a future outlook with a revenue guidance of $320 million for the full year 2024, indicating a 20% growth target[9]. - Revenue for the six months ended June 30, 2024, increased to USD 18,154,000, up from USD 16,240,000 in 2023, representing a growth of 11.8%[27]. - Profit before taxation for the period was USD 40,348,000, compared to a loss of USD 5,337,000 in 2023[27]. - For the six months ended 30 June 2024, the Group reported a net profit after taxation of USD 40.3 million, a turnaround from a net loss of USD 5.3 million in the same period of 2023[29]. - Total comprehensive income for the period was USD 41,955,000, compared to a loss of USD 10,380,000 in 2023[105]. - Profit attributable to owners of the Company for the period was USD 40,349,000, a significant recovery from a loss of USD 5,344,000 in the same period last year[133]. User Growth and Market Expansion - User data showed a 40% increase in active clients, reaching 200,000 users by the end of June 2024[9]. - G-Resources plans to expand its market presence in Southeast Asia, targeting a 20% market share by the end of 2025[9]. - The Group's financial services business focuses on securities trading, margin financing, money lending, and asset management, primarily in the Hong Kong market[35]. Technology and Innovation - The company is investing $10 million in new technology development aimed at enhancing its financial services platform[9]. - G-Resources aims to improve operational efficiency by implementing AI-driven analytics in its financial services by the end of 2024[9]. - G-Resources has launched a new mobile application that has already garnered 50,000 downloads within the first month of release[9]. Management and Governance - The Group's management team includes directors with extensive backgrounds in various financial sectors, enhancing strategic decision-making capabilities[17][19][20][23]. - G-Resources emphasized its commitment to transparency and governance, with plans to publish quarterly performance reports moving forward[9]. - The Audit Committee, comprising three independent non-executive Directors, reviewed the interim report for the six months ended June 30, 2024[101]. Financial Services and Investments - The Financial Services Business generated external revenue of USD 932,000, up from USD 869,000 in 2023, reflecting a growth of 7.2%[27]. - The Principal Investment Business saw external revenue increase to USD 16,136,000, compared to USD 14,646,000 in 2023, an increase of 10.2%[27]. - The Group's investments in unlisted investment funds rose to USD 307.3 million as of June 30, 2024, compared to USD 262.0 million as of December 31, 2023[49]. - The Group invested USD 66.8 million in unlisted financial assets during the six months ended June 30, 2024, primarily for capital commitments and acquisition of listed equity investments[45]. Risk Management - The Group maintained a stringent risk control and management system, including periodic reviews of collateral value and stress testing on borrowers' repayment ability[41]. - The Group has ceased providing unsecured loans since Q2 2019, focusing on secured and mortgaged loans to minimize credit risk[41]. - The Group had no bad debts during the period, reflecting its prudent credit risk management approach[44]. Cash Flow and Liquidity - Net cash generated from operating activities for the six months ended June 30, 2024, was USD 6.4 million, down from USD 12.2 million in the same period of 2023[61]. - Cash and cash equivalents decreased to USD 80.3 million as of June 30, 2024, from USD 130.3 million as of December 31, 2023, reflecting a net decrease of USD 51.9 million[61]. - Net cash used in investing activities was USD 58.3 million, which included net cash outflows for investments of USD 23.0 million and placing of bank deposits of USD 52.5 million[61]. Shareholder Information - The Board does not recommend the proposal and payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year where no dividend was declared[98]. - The final dividend declared for the six months ended June 30, 2024, was approximately USD 6,918,000, consistent with the previous year's dividend of USD 6,901,000[128]. - Elvin Alan Ortiz Espinosa and Sprout Wings Limited each hold a 28.38% interest in the Company, with 127,939,100 shares[87]. Market Outlook - The Group is well-positioned to capitalize on the favorable business and investment environment in the latter half of 2024, with a steady recovery in the global economy and trade activities[70]. - The Hong Kong IPO market, which was sluggish in 2023, is expected to gradually improve throughout 2024 due to supportive measures from the Hong Kong government, including tax incentives and regulatory reforms[71]. - The Group plans to actively promote its IPO margin financing business, leveraging its existing client base and expanding relationships with brokerage firms to drive growth in this segment[72]. Asset Management - The Group's total assets increased to USD 1,617.4 million as of June 30, 2024, from USD 1,568.2 million as of December 31, 2023[58]. - The fair value of listed shares held by the Group increased to USD 63.9 million as of June 30, 2024, up from USD 36.8 million as of December 31, 2023[49]. - The Group's rental income from commercial office premises was USD 0.7 million for the six months ended June 30, 2024, remaining stable compared to the same period in 2023[52].
国际资源(01051) - 2024 - 中期财报