Financial Performance - For the six months ended June 30, 2024, the company reported a loss of HK$38,799,000, compared to a loss of HK$21,015,000 in the same period of 2023, representing an increase in loss of approximately 84.5%[2] - Revenue for the first half of 2024 was HK$17,198,000, a decrease of 57.8% from HK$40,779,000 in the first half of 2023[2] - The company's operating loss for the period was HK$38,758,000, compared to an operating loss of HK$20,911,000 in 2023, indicating a deterioration of 85.6%[2] - Loss per share attributable to owners of the company was HK$2.52 for the first half of 2024, compared to HK$1.37 in the same period of 2023, reflecting an increase of 83.2%[3] - The loss before tax for the six months ended June 30, 2024, was HK$38,799,000, compared to a loss of HK$21,015,000 in the same period of 2023[14][15] - The Group's unaudited consolidated loss for the period was approximately HK$38.8 million, primarily due to an unrealised loss on financial assets at FVTPL of approximately HK$30.7 million[42] Revenue Breakdown - Total revenue for the six months ended June 30, 2024, was HK$17,198,000, compared to HK$40,779,000 for the same period in 2023, representing a decline of approximately 58.1%[14][15] - The segment revenue from trading of used computer-related components, clothes, and beauty products was HK$11,036,000 for the first half of 2024, down from HK$34,744,000 in 2023, indicating a decrease of about 68.2%[14][15] - The money lending segment generated revenue of HK$6,117,000 in the first half of 2024, compared to HK$5,027,000 in the same period of 2023, reflecting an increase of approximately 21.7%[14][15] - Revenue from trading of used computer-related components, clothes, and beauty products was HK$2,680,000 for the six months ended June 30, 2024, compared to HK$2,836,000 in 2023, a decrease of 5.5%[17] - Money lending segment revenue rose to HK$9,705,000 in 2024, up 28.5% from HK$7,554,000 in 2023[17] Assets and Liabilities - Total assets less current liabilities decreased to HK$206,476,000 as of June 30, 2024, down from HK$243,274,000 at the end of 2023, a decline of 15.1%[4] - Net current assets fell to HK$203,452,000 in June 2024, compared to HK$242,936,000 in December 2023, a decrease of 16.2%[4] - The company’s cash and bank balances decreased to HK$223,545,000 in June 2024 from HK$263,687,000 in December 2023, a reduction of 15.2%[4] - The company’s total equity decreased to HK$204,475,000 as of June 30, 2024, down from HK$243,274,000 at the end of 2023, a decline of 15.9%[4] - Total segment assets as of June 30, 2024, amounted to HK$171,851,000, an increase from HK$166,624,000 as of December 31, 2023[16] - Total trade and other receivables decreased to HK$31,247,000 as of June 30, 2024, from HK$33,933,000 as of December 31, 2023, a decline of 7.9%[32] Financial Assets and Losses - The company reported unrealized losses on financial assets at fair value through profit or loss of HK$30,655,000 in 2024, compared to HK$20,205,000 in 2023, an increase of 51.1%[2] - The unrealized loss on financial assets at fair value through profit or loss (FVTPL) for the first half of 2024 was HK$30,655,000[14] - The total market value of financial assets at FVTPL as of June 30, 2024, was approximately HK$39.1 million, down from HK$78.3 million as of December 31, 2023[54] - The group recognized a realized loss of approximately HK$8.8 million on financial assets at FVTPL for the six months ended June 30, 2024, compared to HK$0 for the same period in 2023[55] - The group also recognized an unrealized loss of approximately HK$30.7 million on financial assets at FVTPL for the six months ended June 30, 2024, compared to HK$20.2 million for the same period in 2023[55] Strategic Changes and Future Plans - The Group obtained licenses for Types 4 and 9 from the Securities and Futures Commission to operate a virtual asset trading platform, indicating a strategic shift towards asset management[42] - The Group aims to broaden its income stream by seeking potential investment and business opportunities[42] - The Board resolved to withdraw the License application due to substantial changes in the virtual assets business landscape in Hong Kong[49][50] - The Board believes that the Group may not compete effectively in the challenging virtual asset market in Hong Kong due to keen competition[50][51] - The Board emphasizes the need to concentrate resources on existing businesses with stable growth, such as clothing and beauty products, and money lending[51][52] - The adjustment in strategy aims to enhance the Group's capability to create value for shareholders by deploying financial resources more efficiently[52] Share Capital and Dividends - The Group's authorized share capital remained at HK$600,000,000, with 100,000,000,000 ordinary shares as of June 30, 2024[41] - The issued and fully paid ordinary shares were 1,538,536,566, amounting to HK$9,231,000 as of June 30, 2024[41] - No dividends were paid or proposed during the six months ended June 30, 2024, and 2023[30] - The Company completed a placing of up to 580,000,000 shares at a price of HK$0.10 per share, raising approximately HK$56.2 million in net proceeds[45][46][47] - As of June 30, 2024, approximately HK$18.3 million of the net proceeds remained unutilized[47] - The Company plans to reallocate the unutilized net proceeds to general working capital, expected to be fully utilized by the end of 2025[47] Compliance and Governance - The Company has adopted the Model Code for directors' securities transactions, and all Directors complied with the required standards during the six months ended June 30, 2024[67] - During the six months ended June 30, 2024, there were no purchases, sales, or redemptions of the Company's listed securities by the Company or its subsidiaries[68] - As of June 30, 2024, there were no interests or short positions in the shares of the Company held by Directors or the chief executive[60] - No share options were granted, exercised, outstanding, cancelled, or lapsed under the 2021 Share Option Scheme as of June 30, 2024[60] - The Group's emolument policies are based on employee performance and market conditions, with discretion to grant share options as incentives[58]
新确科技(01063) - 2024 - 中期财报