Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 25,921 thousand, a 3.2% increase from HKD 25,109 thousand in the same period of 2023[24] - Gross profit for the same period was HKD 14,034 thousand, up 14.9% from HKD 12,210 thousand year-on-year[24] - Loss before tax decreased to HKD 1,681 thousand, compared to a loss of HKD 4,789 thousand in the previous year, representing a 64.9% improvement[24] - Total comprehensive loss for the period was HKD 1,999 thousand, significantly reduced from HKD 5,077 thousand in the prior year, marking a 60.7% decrease[25] - The company reported a basic and diluted loss per share of HKD 0.23, an improvement from HKD 0.69 in the same period last year[24] - The group reported a net loss of HKD 1,609 million for the six months ended June 30, 2024, compared to a net loss of HKD 4,704 million for the same period in 2023, reflecting a reduction of 65.8%[46] - The group's net loss for the period was approximately HKD 1,609,000, a reduction of about 65.80% compared to HKD 4,704,000 in the previous year, primarily due to lower administrative expenses[77] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 133,585 thousand, down from HKD 136,201 thousand at the end of 2023[26] - Current liabilities increased to HKD 66,153 thousand from HKD 64,551 thousand, reflecting a 2.5% rise[27] - Non-current assets decreased to HKD 54,416 thousand from HKD 56,183 thousand, a decline of 3.1%[26] - The company’s equity attributable to owners decreased from HKD (986,479) thousand at the beginning of the period to HKD (991,045) thousand by June 30, 2024[28] - As of June 30, 2024, the group had total assets of approximately HKD 133,585,000 and liabilities of about HKD 49,840,000, resulting in a debt-to-asset ratio of approximately 37.31%[82] - The current ratio as of June 30, 2024, was approximately 1.20, with current assets of about HKD 79,169,000 exceeding current liabilities of HKD 66,153,000[82] Cash Flow - For the six months ended June 30, 2024, the net cash generated from operating activities was HKD 3,089 thousand, compared to a net cash used of HKD 4,415 thousand in the same period of 2023[29] - The total cash and cash equivalents as of June 30, 2024, amounted to HKD 65,356 thousand, a decrease from HKD 72,265 thousand as of June 30, 2023[29] - Cash and cash equivalents decreased to HKD 65,356 thousand from HKD 66,826 thousand, a decline of 2.2%[26] - The cash flow from investing activities for the six months ended June 30, 2024, was HKD 1,223 thousand, compared to HKD 540 thousand in the same period of 2023[29] Segment Performance - The healthcare and medical segment generated revenue of HKD 1,882 million for the six months ended June 30, 2024, compared to HKD 1,187 million in the same period of 2023, representing a growth of 58.7%[46] - The beauty and fitness segment reported revenue of HKD 460 million for the six months ended June 30, 2024, down from HKD 1,704 million in the same period of 2023, indicating a decline of 73.0%[46] - The beauty and fitness business performance remained sluggish due to a sharp decline in the service industry and weak consumer market in China[69] Operational Changes and Strategies - The company aims to enhance market expansion and product development strategies in the upcoming quarters[19] - The group plans to close one beauty and fitness business location in the second half of 2024 to optimize cost efficiency and ensure strategic placement of its stores[70] - The company has faced challenges from market competitors in its healthcare and medical business segment[67] - The company has no immediate plans for significant acquisitions or expansions due to the cautious approach adopted in response to healthcare system reforms[79] Financial Risks and Compliance - The company continues to face various financial risks, including foreign exchange risk, credit risk, liquidity risk, and cash flow and fair value interest rate risk[37] - The company has adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2024, which did not result in significant changes to the financial statements[34] - The board confirms compliance with the standards for securities trading as per the listing rules for the six months ending June 30, 2024[103] Shareholder Information - The board did not recommend any dividend payment for the six months ended June 30, 2024, consistent with the previous year[55] - The company expresses gratitude to shareholders, customers, suppliers, and banks for their continued support during the reporting period[106] Audit and Governance - The company has engaged an external consultant for internal audit functions, ensuring the adequacy and effectiveness of the risk management and internal control systems[102] - The audit committee consists of three independent non-executive directors, with one member holding recognized accounting qualifications and extensive experience in auditing and accounting[104] Employment and Legal Matters - The company employed 181 staff in Hong Kong and China as of June 30, 2024[93] - There were no significant ongoing or threatened litigations against the company or its subsidiaries[94]
格林国际控股(02700) - 2024 - 中期财报