Financial Performance - For the six months ended June 30, 2024, the group's consolidated revenue from continuing operations was approximately HKD 90,202,000, a decrease of about 67.7% compared to HKD 278,834,000 in 2023[6]. - Revenue from big data services for the same period was approximately HKD 89,721,000, down 67.8% from HKD 278,611,000 in 2023[9]. - The group reported a loss from continuing operations of approximately HKD 359,970,000, compared to a profit of HKD 7,518,000 in 2023[6]. - The loss per share for continuing operations was approximately HKD 0.2121, compared to earnings per share of HKD 0.0022 in 2023[6]. - The gross profit for the same period was HKD 57,017,000, compared to HKD 202,921,000 in 2023, indicating a significant decline[78]. - The company recorded a loss before tax of HKD 366,278,000, compared to a loss of HKD 4,627,000 in the previous year[78]. - Total comprehensive loss for the period was HKD 357,464,000, a substantial increase from HKD 18,722,000 in the prior year[78]. - The company reported a loss attributable to owners of HKD 226,005,000 for the six months ended June 30, 2024, compared to a profit of HKD 17,072,000 in the same period of 2023, representing a significant decline[79]. - The basic and diluted loss per share from continuing and discontinued operations was HKD 21.21, a decrease from HKD 1.96 in the previous year[79]. Assets and Liabilities - The group's total liabilities as of June 30, 2024, were approximately HKD 593,990,000, slightly down from HKD 595,813,000 as of December 31, 2023[20]. - The debt-to-equity ratio as of June 30, 2024, was approximately 598.3%, compared to 130.4% as of December 31, 2023[21]. - The current ratio as of June 30, 2024, was approximately 0.9 times, down from 1.0 times as of December 31, 2023[21]. - The company's net asset value dropped to HKD 99,278,000 as of June 30, 2024, down from HKD 456,742,000 at the end of 2023[83]. - The company's total liabilities exceeded total assets by HKD 134,068,000 as of June 30, 2024, compared to HKD 21,184,000 as of December 31, 2023[83]. - Non-current assets decreased to HKD 242,844,000 as of June 30, 2024, from HKD 495,369,000 as of December 31, 2023[82]. - Current liabilities increased to HKD 1,195,861,000 as of June 30, 2024, compared to HKD 1,154,527,000 as of December 31, 2023[83]. - The company reported a significant increase in trade and other receivables, which rose to HKD 419,830,000 as of June 30, 2024, from HKD 370,977,000 as of December 31, 2023[82]. Operational Strategy - The group is focusing on cost reduction and efficiency improvement measures in response to the challenging market environment[9]. - The company is awaiting further clarification regarding the renewal of its third-party payment service license, which expired in August 2021[11]. - The company is considering other options regarding its third-party payment service category, including the potential sale of its entire stake in that category[13]. - The company is focusing on core product development and maintenance, particularly in big data analysis for the consumer credit sector, utilizing its SaaS/PaaS cloud platform[29]. - The company aims to improve operational efficiency and service quality while maintaining employee satisfaction amidst economic fluctuations and market changes[29]. - The company has implemented cost control measures and organizational restructuring to improve business efficiency[28]. - The company is focused on optimizing internal management to respond swiftly to market changes while maintaining service quality[29]. Cash Flow and Financing - The group reported a net cash outflow from operating activities of HKD 90,106,000 for the six months ended June 30, 2024, compared to a net cash inflow of HKD 18,666,000 in the same period of 2023[89]. - Cash and cash equivalents decreased to HKD 31,646,000 as of June 30, 2024, down from HKD 216,728,000 at the beginning of the period[89]. - The group plans to raise additional funds through equity financing and long-term debt financing to meet its operational and financial obligations[93]. - The group intends to sell non-core businesses and assets to raise more operational funds[93]. Employee and Management - The total employee cost from continuing operations for the six months ended June 30, 2024, was approximately HKD 40,746,000, down from HKD 57,912,000 in 2023, with the number of employees decreasing to 119 from 171[24]. - The company's executive directors received a total remuneration of HKD 4,839,000 for the six months ended June 30, 2024, compared to HKD 1,997,000 for the same period in 2023[164]. Share Options and Capital - The company has not granted any share options under the share option plan as of June 30, 2024[43]. - The total number of share options available for grant under the share option plan is 47,648,366 as of June 30, 2024[43]. - The share option plan aims to attract and retain top talent, incentivize participants, and promote the success of the group[44]. - The maximum number of shares that may be issued upon exercise of options granted under the share option plan shall not exceed 10% of the issued shares as of the adoption date[54]. Impairment and Losses - The impairment loss on intangible assets recognized for the six months ended June 30, 2024, was approximately HKD 238,301,000, compared to none in 2023[14]. - The expected credit loss under the impairment model increased to approximately HKD 66,348,000, up from HKD 2,911,000 in 2023, mainly due to the impairment of long-term overdue trade and other receivables in the third-party payment service category[14]. - The total impairment loss recognized for goodwill and supplier relationships related to the big data cash-generating unit was approximately HKD 238,301,000[137].
联洋智能控股(01561) - 2024 - 中期财报