Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 71,606,000, a decrease of 24.2% from HKD 94,551,000 for the same period in 2022[15]. - The company reported a loss attributable to owners of the company of HKD (111,286,000), compared to a loss of HKD (187,992,000) in the previous year, representing a 40.7% improvement[15]. - Basic and diluted loss per share was HKD (25.49), down from HKD (44.75) in the prior year, indicating a reduction in loss per share[15]. - Gross profit for the period was HKD 40,896,000, down 34.9% from HKD 62,808,000 in the previous year[18]. - The total comprehensive loss for the period was HKD (111,413,000), compared to HKD (185,947,000) in the previous year, indicating a 40.0% reduction[18]. - The company reported a pre-tax loss of HKD 30,710,000 for the six months ended June 30, 2023, compared to HKD 31,677,000 for the same period in 2022, indicating a slight improvement[81]. Expenses and Liabilities - Selling and distribution expenses decreased to HKD (46,937,000) from HKD (55,762,000), reflecting a reduction of 15.8%[18]. - Administrative expenses were HKD (12,031,000), down from HKD (19,280,000), showing a decrease of 37.8%[18]. - Current liabilities rose to HKD 398,964,000 from HKD 221,502,000, representing an increase of 80.2%[25]. - The net current liabilities increased significantly to HKD 324,175,000, compared to HKD 128,175,000 in the previous period[25]. - The company’s total equity attributable to owners decreased to HKD (323,466,000) from HKD (212,053,000), indicating a worsening financial position[29]. Cash Flow - The company reported a net cash inflow from operating activities of HKD 5,363,000 for the six months ended June 30, 2023, down from HKD 6,723,000 in the same period last year, representing a decrease of approximately 20.2%[37]. - The net cash outflow from investing activities was HKD 3,500,000, significantly improved from HKD 36,317,000 in the previous year, indicating a reduction of about 90.4%[37]. - The net cash outflow from financing activities was HKD 13,780,000, compared to HKD 15,629,000 in the prior year, reflecting a decrease of approximately 11%[37]. - The company’s cash and cash equivalents decreased to HKD 35,900,000 at the end of the reporting period, down from HKD 61,878,000 a year earlier, representing a decline of approximately 42%[37]. Restructuring and Liquidation - The company continues to be in liquidation, and trading of its shares has been suspended since April 3, 2023[2]. - The company has entered into an exclusive agreement with an investor regarding a restructuring plan, which includes a capital restructuring and subscription of new shares[52]. - The company has received a court order for liquidation on September 25, 2023, with a provisional liquidator appointed[184]. - A restructuring plan is in progress, involving a capital restructuring and debt repayment arrangements, with an exclusivity agreement signed with an investor for HKD 6.5 million[193]. - The company is required to comply with listing rules to avoid delisting, with a deadline approaching on October 2, 2024[188]. Share Capital and Options - The total number of issued and fully paid ordinary shares increased to 436,576,000 as of June 30, 2023, compared to 349,260,800 on January 1, 2022, representing an increase of approximately 25%[133]. - The number of unexercised share options under the 2011 Share Option Scheme decreased to 23,298,000 shares as of June 30, 2023, from 26,790,000 shares at the end of 2022, a decline of approximately 13.5%[141]. - The company’s management compensation for the period included salaries and other benefits totaling HKD 1,430,000, down from HKD 3,416,000 in the previous year, reflecting a decrease of about 58%[138]. - The company’s new share option plan allows for the issuance of options not exceeding 1% of the issued shares to any one participant within a 12-month period, ensuring controlled equity distribution[143]. Operational Challenges - The company continues to face challenges in its operations, as indicated by the ongoing losses and the need for strategic adjustments in its business model[90]. - The company operates primarily in the health and wellness product sales sector, with no significant changes in its business segments reported[72]. - The liquidators have reported that they have not received any responses from the board regarding the company's affairs since their appointment[197]. - The financial statements for the six months ending June 30, 2023, have been prepared based on the information available to the liquidators[197].
腾邦控股(06880) - 2024 - 中期业绩