Financial Performance - The group recorded revenue of approximately HKD 36,451,000 for the six months ended June 30, 2024, a decrease of 3.9% from HKD 39,041,000 in the same period of 2023[12] - The loss attributable to the owners of the company was approximately HKD 14,040,000, compared to a loss of HKD 34,867,000 in the same period of 2023, representing a significant improvement[12] - The gross profit for the six months ended June 30, 2024, was HKD 33,923,000, down from HKD 36,641,000 in the same period of 2023[14] - The administrative expenses for the period were HKD 29,140,000, compared to HKD 48,816,000 in the same period of 2023, indicating a reduction in costs[14] - The basic and diluted loss per share was HKD 0.56 for the six months ended June 30, 2024, compared to HKD 1.25 for the same period in 2023[16] - The company reported a net cash outflow from operating activities of HKD (19,071,000) for the six months ended June 30, 2024, compared to a cash inflow of HKD 38,536,000 in the same period last year[21] - The group reported a loss before tax of HKD 14,042,000 for the period, compared to a profit in the previous year[28] - The company reported a net loss of HKD 10,062,000 after accounting for a fair value loss of HKD 56,587,000 on financial assets[29] Assets and Liabilities - The group held financial assets at fair value through profit or loss amounting to approximately HKD 467,943,000 as of June 30, 2024, down from HKD 482,275,000 as of December 31, 2023[13] - Cash and bank balances were approximately HKD 167,955,000 as of June 30, 2024, compared to HKD 188,034,000 as of December 31, 2023[13] - The net current assets were approximately HKD 1,045,591,000, a decrease from HKD 1,081,612,000 as of December 31, 2023, with a current ratio of 17.02 times[13] - The total assets amounted to approximately HKD 1,262,597,000 as of June 30, 2024, compared to HKD 1,276,639,000 as of December 31, 2023[13] - Total liabilities increased to HKD 65,287,000 from HKD 49,159,000, marking a rise of approximately 32.7%[18] - The total equity attributable to owners decreased to HKD 1,262,597,000 from HKD 1,276,639,000, a decline of about 1.1%[19] Revenue Breakdown - The revenue from the lending business was approximately HKD 26.9 million for the current period, down from HKD 28.8 million in 2023[73] - Revenue from the financial services segment decreased to approximately HKD 9.0 million, down from HKD 9.7 million in the previous year[73] - Interest income from lending was HKD 26,955,000, down from HKD 28,854,000, representing a decline of 6.6%[23] - Revenue from financial services, including brokerage commission income, increased to HKD 2,016,000 from HKD 689,000, marking a significant growth of 192.5%[24] Investment Activities - The company incurred a loss of HKD (14,040,000) during the six months ended June 30, 2024, compared to a loss of HKD (34,867,000) in the previous period[19] - The company recorded a fair value loss of HKD 25,130,000 on financial assets, compared to a loss of HKD 56,587,000 in the previous year[36] - The group recorded a fair value loss of approximately HKD 39.2 million on its investment in Kang Jian during the period[90] - The fair value of the investment in Kang Jian is approximately HKD 243.7 million, accounting for about 18.3% of the group's unaudited total assets as of June 30, 2024[90] Credit and Risk Management - The group has implemented strict credit policies and controls to mitigate credit risk, including thorough identity verification and repayment capability assessments[76] - The group evaluates expected credit losses based on historical experiences and adjusts for specific factors related to individual debtors and overall economic conditions[80] - The group conducts weekly reviews of repayment records and loan portfolios, particularly focusing on overdue accounts, to assess loan recoverability[78] Employee and Corporate Governance - The company employed 29 employees as of June 30, 2024, and provided regular training to enhance employee capabilities[98] - The company has maintained full compliance with all corporate governance codes during the reporting period[110] - The company aims to attract and retain talented employees through the 2023 Share Option Plan[101] Market Conditions and Future Outlook - The economic environment in Hong Kong has significantly slowed down, influenced by geopolitical tensions and a soft real estate market, impacting the performance of the group's fund investments[86] - The group anticipates ongoing market volatility due to rising interest rates and inflationary pressures, which may impact the financial sector significantly[92] - The group plans to expand its financial services scope, focusing on corporate financing, asset investment, and management, positioning itself as a comprehensive financial service provider[75]
嬴集团(00397) - 2024 - 中期财报