Financial Performance - For the six months ended September 30, 2024, the revenue was approximately HKD 72,141,000, representing a growth of about 10% compared to the same period last year[4]. - The loss attributable to equity holders of the company for the same period was approximately HKD 480,000, a significant improvement from a net loss of approximately HKD 935,000 in the previous year[4]. - Gross profit for the six months ended September 30, 2024, was HKD 8,579,000, compared to HKD 6,537,000 in the previous year[6]. - The company reported a basic and diluted loss per share of HKD (0.15) for the six months ended September 30, 2024, compared to HKD (0.29) in the previous year[6]. - The total comprehensive loss for the period was HKD (487,000), compared to HKD (932,000) in the previous year[6]. - Total revenue for the six months ended September 30, 2024, was HKD 72,141,000, up from HKD 65,849,000 in the same period of 2023, representing an increase of approximately 9.8%[24]. - The reported segment profit for the China division was HKD 8,177,000 for the six months ended September 30, 2024, compared to HKD 5,817,000 in 2023, showing a growth of approximately 40.5%[24]. - The company’s total reported segment profit for the six months ended September 30, 2024, was HKD 8,926,000, an increase from HKD 6,537,000 in the same period of 2023, reflecting a growth of approximately 36.4%[24]. Cash Flow and Assets - The company reported a net cash outflow from operating activities of HKD (2,077,000) for the six months ended September 30, 2024, compared to HKD (1,579,000) in the previous year[10]. - Cash and cash equivalents increased by HKD 28,634,000 during the period, compared to a decrease of HKD (2,166,000) in the previous year[10]. - Total assets less current liabilities amounted to HKD 84,055,000 as of September 30, 2024, compared to HKD 84,520,000 as of March 31, 2024[8]. - The company's non-current assets were valued at HKD 1,718,000 as of September 30, 2024, down from HKD 2,448,000 as of March 31, 2024[8]. - Trade and other receivables were HKD 45,457,000 as of September 30, 2024, compared to HKD 56,689,000 as of March 31, 2024[8]. - Trade receivables as of September 30, 2024, amounted to HKD 37,222,000, down from HKD 54,835,000 as of March 31, 2024[32]. - The aging analysis of trade receivables shows that HKD 26,229,000 (70.4%) is within 90 days, while HKD 3,455,000 (9.3%) is between 1 to 2 years[34]. - Trade payables as of September 30, 2024, were HKD 50,812,000, a decrease from HKD 58,686,000 as of March 31, 2024[36]. - As of September 30, 2024, the total amount of cash and bank balances was approximately HKD 84,842,000[72]. - The group had a net current asset value of approximately HKD 82,337,000, with cash and bank balances constituting a significant portion[74]. - The total borrowings amounted to approximately HKD 5,953,000, with total equity attributable to equity holders at approximately HKD 79,868,000, resulting in a capital debt ratio that is not applicable[74]. Expenses and Income - The company’s operating expenses for the six months ended September 30, 2024, were HKD 10,505,000, compared to HKD 9,091,000 in 2023, representing an increase of approximately 15.6%[24]. - The depreciation expense for property, plant, and equipment was HKD 753,000 for the six months ended September 30, 2024, down from HKD 798,000 in 2023, indicating a decrease of approximately 5.6%[24]. - Interest income for the six months ended September 30, 2024, was HKD 1,638,000, slightly up from HKD 1,619,000 in the same period of 2023, showing an increase of approximately 1.2%[24]. - Sales expenses were approximately HKD 4,742,000, a decrease of 6% from HKD 5,066,000 in the previous year[45]. - Administrative expenses decreased by approximately HKD 395,000 to HKD 5,696,000, down about 6% from HKD 6,091,000 year-on-year[45]. - Other operating expenses increased by approximately HKD 107,000 to HKD 377,000, attributed to increased revenue in rail transit leading to higher maintenance provisions[45]. - Other income significantly decreased to approximately HKD 1,948,000 from HKD 4,078,000, primarily due to a reduction in accounts receivable recovery[45]. Corporate Governance and Compliance - The audit committee has reviewed the unaudited results for the six months ending September 30, 2024, and confirmed compliance with applicable accounting standards and regulations[90]. - The company has established internal controls and risk management systems deemed effective and sufficient by the audit committee[90]. - There were no purchases, sales, or redemptions of the company's shares by any member of the group during the review period[88]. - The company has complied with the GEM Listing Rules and corporate governance codes throughout the review period[86]. - No directors or major executives have disclosed any interests or short positions in the company's shares or related securities as of September 30, 2024[80]. - The company has adopted a code of conduct for securities trading that is not less stringent than the GEM Listing Rules[85]. - There are no reported conflicts of interest between the directors and the company's business operations[87]. Market Outlook and Business Strategy - The company expects that the U.S. entering a rate-cutting cycle will reduce financing costs across various industries, potentially boosting consumer spending[42]. - The company is actively participating in various business activities to provide comprehensive quality services to customers, leveraging both mainland and local market advantages[42]. - The company continues to face challenges from high operational costs and a tightening lending environment in Hong Kong, impacting local business development[41]. - The company anticipates that government stimulus policies will drive economic growth in the Greater Bay Area, creating more business opportunities[42]. - The group plans to utilize the proceeds from the 2016 subscription by March 31, 2026, based on current and future market conditions[68]. - The group has suspended further R&D on the 5G version of the CA-SIM product due to high associated costs, focusing instead on existing 4G network-compatible products for smart city projects[70]. Shareholding Structure - The company has a total of 164,877,714 shares of common stock held by the beneficial owner, representing 50.52% of the total shares[78]. - The spouse of the beneficial owner holds 38,749,356 shares, accounting for 11.87% of the total shares[78]. - The company has a total of 25,465,320 shares held by a corporation controlled by the beneficial owner, which represents 7.80% of the total shares[78].
国联通信(08060) - 2025 - 中期业绩