Financial Performance - The company reported a revenue of HKD 159,263,000 for the six months ended June 30, 2024, a decrease of 11.9% compared to HKD 180,782,000 for the same period in 2023[2]. - The gross profit for the same period was HKD 25,674,000, representing a gross margin of 16.1%, down from HKD 18,875,000 and a margin of 10.4% in 2023[2]. - The company incurred a loss before tax of HKD 155,776,000, compared to a loss of HKD 134,448,000 in the previous year, indicating a deterioration in financial performance[2]. - The total comprehensive loss for the period was HKD 157,892,000, compared to HKD 180,953,000 in the same period last year, reflecting a reduction in overall losses[2]. - The company reported a basic and diluted loss per share of HKD 17.75 for the period, compared to HKD 16.41 in the previous year, indicating worsening per-share performance[2]. - The group recorded a consolidated revenue of HKD 159,263,000 for the six months ended June 30, 2024, a decrease of 11.9% or HKD 21,519,000 compared to HKD 180,782,000 in the same period last year[35]. - The group reported a loss of HKD 140,569,000 for the period, compared to a loss of HKD 129,215,000 in the same period last year[35]. Asset and Liability Management - Non-current assets decreased to HKD 1,754,690,000 as of June 30, 2024, from HKD 1,924,725,000 at the end of 2023, indicating a decline in asset value[3]. - Current assets totaled HKD 1,085,078,000, a slight decrease from HKD 1,131,688,000 at the end of 2023, showing a reduction in liquidity[3]. - The company's net current liabilities stood at HKD 16,356,000, down from HKD 33,615,000, indicating improved short-term financial health[3]. - Total equity decreased to HKD 1,293,504,000 from HKD 1,451,396,000, reflecting a decline in shareholder value[4]. - The group's total current assets were approximately HKD 1,085,078,000 as of June 30, 2024, down from HKD 1,131,688,000 as of December 31, 2023[40]. - The total equity of the group decreased by 10.9% to HKD 1,293,504,000 as of June 30, 2024, compared to HKD 1,451,396,000 as of December 31, 2023[40]. Cash Flow and Investments - For the six months ended June 30, 2024, the net cash used in operating activities was (46,108) thousand HKD, compared to a net cash generated of 14,528 thousand HKD for the same period in 2023[7]. - The net cash generated from investing activities was 75,973 thousand HKD, a decrease from 197,132 thousand HKD in the prior year[7]. - The net increase in cash and cash equivalents for the six months ended June 30, 2024, was 14,786 thousand HKD, resulting in a cash balance of 642,898 thousand HKD at the end of the period[7]. - The company generated HKD 4,196,000 in property, plant, and equipment purchases for the six months ended June 30, 2024, down from HKD 10,167,000 in the previous year, indicating a decrease of 58.8%[22]. Foreign Exchange and Financial Risks - The company experienced a foreign exchange loss of HKD 17,323,000 due to currency fluctuations, compared to a loss of HKD 51,738,000 in the previous year, showing some improvement in currency risk management[2]. - The company experienced a foreign exchange gain of 6,463 thousand HKD for the six months ended June 30, 2024, compared to a gain of 21,515 thousand HKD in the previous year[14]. - The finance costs for the six months ended June 30, 2024, amounted to 4,742 thousand HKD, down from 9,687 thousand HKD in the same period of 2023[15]. Operational Highlights - Total rental income from investment properties increased significantly to HKD 678,000 for the six months ended June 30, 2024, compared to HKD 165,000 for the same period in 2023, representing a growth of 310.9%[16]. - The company recorded bank interest income of HKD 9,646,000 for the six months ended June 30, 2024, a substantial increase from HKD 681,000 in the previous year, marking an increase of approximately 1,320.4%[16]. - Deferred tax credits for the period amounted to HKD 7,719,000, up from HKD 1,660,000 in the previous year, reflecting a growth of 364.5%[17]. - The company reported a loss from investment property fair value changes of (820) thousand HKD for the six months ended June 30, 2024, compared to a gain of 790 thousand HKD in the previous year[14]. Shareholder Information - The company reported a total of 792,117,421 shares issued and fully paid as of June 30, 2024, an increase from 785,617,421 shares at the beginning of the year[30]. - As of June 30, 2024, the total shareholding of directors and senior executives amounted to 388,485,340 shares, representing 49.04% of the company's issued share capital[43]. - The largest individual shareholder, Li Da Hing, holds 20,756,072 personal shares and 58,121,087 family shares, totaling 388,485,340 shares[43]. - The company has not been notified of any other shareholders holding 5% or more of the issued share capital as of June 30, 2024[47]. Employee and Management Information - As of June 30, 2024, the group employed approximately 510 staff, a decrease from 572 staff as of June 30, 2023[42]. - Total employee compensation for the period amounted to HKD 23,449,000, compared to HKD 23,018,000 for the same period last year, reflecting an increase of 1.87%[42]. - The company has a policy to regularly review employee compensation levels and performance bonus systems to ensure competitiveness within the industry[42]. - Short-term employee benefits for key management personnel decreased from HKD 9,394,000 in December 2023 to HKD 8,503,000 in June 2024, a decline of about 9.5%[31]. Corporate Governance - The audit committee reviewed the accounting principles and practices adopted by the group and discussed audit, internal control, and financial reporting matters, including the unaudited interim results for the six months ending June 30, 2024[52]. - The board believes that the company has adopted and complied with the corporate governance code as set out in Appendix 14 of the Hong Kong Stock Exchange Listing Rules during the first six months ending June 30, 2024[53]. - The company has adopted a set of standards for directors' securities transactions that are not less stringent than those set out in Appendix 10 of the Listing Rules, and all directors confirmed compliance with these standards[54].
世界(集团)(00713) - 2024 - 中期财报