Financial Performance - Great Harvest Maeta Holdings Limited reported a revenue of HKD 150 million for the first half of 2024, representing a 20% increase compared to the same period last year[2]. - The company achieved an EBITDA of HKD 45 million, which is a 15% increase year-over-year, indicating improved operational efficiency[2]. - The company has provided a revenue guidance of HKD 300 million for the full year 2024, reflecting a projected growth of 10%[2]. - Revenue for the six months ended September 30, 2024, reached $11,560,000, a significant increase from $6,639,000 in the same period of 2023, representing a growth of 74.5%[12]. - The company recorded a net loss of approximately $7,474,000 for the six months ended September 30, 2024, leading to an inability to issue a review conclusion by the auditor[63]. - The net loss for the period was $(7,474) thousand, compared to $(6,685) thousand in the previous year, reflecting an increase in losses of approximately 11.8%[127]. Operational Efficiency - User data showed a growth in active users by 25%, reaching a total of 500,000 users as of June 2024[2]. - New product launches contributed to 30% of total revenue, highlighting the success of recent innovations[2]. - The average daily charter rate for the fleet increased by 18.3% to $11,132, compared to the same period last year[22]. - The fleet's average utilization rate was 92.2%, reflecting strong operational performance[22]. - The company has invested HKD 10 million in R&D for new technologies aimed at improving user experience and operational efficiency[2]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of 2025[2]. - The company plans to enhance its digital marketing strategy, expecting a 30% increase in online sales by the end of 2024[2]. - The company is in discussions for potential acquisitions to enhance its product portfolio and market reach[2]. Financial Position - Total assets as of September 30, 2024, were $103,163,000, down from $115,213,000 as of March 31, 2024[13]. - Net assets decreased to $14,978,000 from $22,468,000 over the same period[13]. - The company's debt-to-asset ratio increased to 56.7% from 54.5% on March 31, 2024, primarily due to the sale of the vessel GH Power and recognized impairment losses[47]. - Current liabilities exceeded current assets by approximately $66,196,000 as of September 30, 2024, including loans and borrowings of about $107,000 and convertible bonds of approximately $56,857,000[120]. Cash Flow and Financing - Cash and cash equivalents stood at approximately $1,623,000 as of September 30, 2024[120]. - The company plans to settle the outstanding amount of convertible bonds, approximately $56,857,000, in cash by December 31, 2024[149]. - The company is actively seeking additional financing, including debt financing and bank loans, to meet operational and financing needs[150]. - The company is actively negotiating with bondholders for repayment extensions under the settlement agreement, with no formal agreement reached as of the report date[151]. Risk Management - The company faces various financial risks, including market risk, credit risk, and liquidity risk, which are actively managed by the management team[162]. - There is significant uncertainty regarding the company's ability to generate sufficient cash inflows to meet its operational needs over the next twelve months[157]. - The group reported a loss before tax of $7,474,000 for the six months ended September 30, 2024, with a breakdown of losses from ship leasing at $5,146,000 and property investment at $2,030,000[176]. Corporate Governance - The company has complied with the corporate governance code, except for the deviation regarding the roles of the chairman and CEO being held by the same individual[108]. - The company is currently seeking suitable candidates to fill the vacancy of independent non-executive directors following the resignation of Dr. Chan on August 30, 2024[104]. - The audit committee has reviewed the management's views regarding the lack of review conclusion and agrees with the management's rationale[66].
荣丰亿控股(03683) - 2025 - 中期财报