Financial Performance - For the six months ended June 30, 2024, the Group reported revenue of HKD 18,598 million, a slight decrease of 1.5% compared to HKD 18,873 million for the same period in 2023[8]. - Gross profit for the same period was HKD 7,395 million, representing an increase of 1.7% from HKD 7,271 million in the previous year[8]. - Operating profit surged to HKD 3,488 million, a significant increase of 159.5% compared to HKD 1,346 million in the prior period[8]. - Profit before tax reached HKD 2,754 million, up 297.4% from HKD 692 million in the same period last year[8]. - Profit attributable to owners of the Company was HKD 2,097 million, compared to HKD 2,397 million in the previous year, reflecting a decrease of 12.5%[8]. - Total comprehensive income for the period was HKD 2,098 million, down from HKD 2,268 million in the same period of 2023[8]. Expenses and Costs - Administrative expenses decreased to HKD 5,717 million from HKD 7,151 million, indicating a reduction of 20.1%[8]. - The Group's financial costs were HKD 623 million, a marginal decrease from HKD 633 million in the previous year[8]. - The total employee costs, including salaries and other benefits, were 3,625,000 SGD for the six months ended June 30, 2024, down from 5,514,000 SGD in 2023, a decrease of approximately 34.3%[26]. - The company’s depreciation expenses for property, plant, and equipment amounted to 499,000 SGD for the six months ended June 30, 2024, compared to 653,000 SGD in 2023, a decrease of about 23.5%[26]. - The cost of sales increased to 2,555,000 SGD for the six months ended June 30, 2024, compared to 2,378,000 SGD in 2023, reflecting an increase of approximately 7.4%[27]. Cash Flow and Liquidity - The net cash generated from operating activities for the six months ended June 30, 2024, was 6,455 thousand SGD, a significant increase from 2,607 thousand SGD in the same period of 2023, representing a growth of approximately 147%[13]. - The company reported a net increase in cash and cash equivalents of 3,200 thousand SGD for the six months ended June 30, 2024, compared to a net increase of 239 thousand SGD in the same period of 2023[13]. - Current liabilities decreased to 15,300 thousand SGD from 15,615 thousand SGD, indicating improved liquidity management[10]. - The net current asset position improved to 11,615 thousand SGD from 9,900 thousand SGD, reflecting a stronger short-term financial position[10]. - The company’s cash and cash equivalents at the end of the period stood at 12,425 thousand SGD, a significant increase from 4,443 thousand SGD at the end of June 30, 2023[13]. Assets and Equity - Non-current assets totaled 43,948 thousand SGD as of June 30, 2024, slightly down from 44,345 thousand SGD at the end of 2023[10]. - Current assets increased to 26,915 thousand SGD from 25,515 thousand SGD, driven by a rise in cash and bank balances to 12,425 thousand SGD from 9,225 thousand SGD[10]. - The company's total equity attributable to owners increased to 29,095 thousand SGD from 26,997 thousand SGD, indicating a positive trend in shareholder value[11]. - The company’s total assets as of June 30, 2024, amounted to 5,279,000 SGD, reflecting a stable asset base compared to previous periods[32]. Revenue Breakdown - Revenue from the semiconductor sector increased to 16,264 thousand SGD in 2024, up from 15,831 thousand SGD in 2023, marking a growth of approximately 2.7%[18]. - Precision machining service revenue was 8,133 thousand SGD for the six months ended June 30, 2024, down from 8,202 thousand SGD in 2023, a decrease of approximately 0.8%[17]. - Precision welding service revenue was 10,465 thousand SGD for the six months ended June 30, 2024, compared to 10,671 thousand SGD in 2023, reflecting a decline of about 1.9%[17]. Shareholder Information - Major shareholders include SGP BVI with 58,647,335 shares, representing 39.10% of the total issued shares, and Baccini with 24,748,479 shares, representing 16.50%[82]. - The company issued and allotted 117,403,489 ordinary shares on July 2, 2024, following a resolution passed at the shareholders' meeting on June 7, 2024[46]. - The company’s capital increased from 67 thousand SGD to 172 thousand SGD due to the issuance of new shares[45]. Corporate Governance and Compliance - The board believes that good corporate governance is essential for protecting shareholder interests and enhancing corporate value[99]. - The audit committee reviewed the unaudited consolidated financial statements for the six months ended June 30, 2024, ensuring compliance with applicable accounting standards[101]. - The company has adhered to all relevant laws and regulations impacting its business, including health and safety, workplace conditions, and environmental standards[97]. Employee Information - As of June 30, 2024, the company employed a total of 154 employees, an increase from 141 employees as of December 31, 2023[77]. - Employee costs for the six months ended June 30, 2024, were approximately 4.1 million SGD, compared to 3.7 million SGD for the same period in 2023, reflecting a year-over-year increase of about 10.81%[77]. - The company emphasizes the importance of employee quality and performance for long-term growth and regularly reviews compensation packages to attract and retain talent[77]. Future Outlook - The Group plans to continue focusing on market expansion and new product development to drive future growth[8]. - The company aims to expand its business into data storage, oil and gas, and aerospace industries, focusing on diversifying its customer base[50]. - The company has no plans for significant investments or acquisitions in subsidiaries or associates for the six months ended June 30, 2024[65].
元续科技(08637) - 2024 - 中期业绩