Financial Performance - For the six months ended December 31, 2024, the group's revenue was approximately HKD 63,889,000, an increase of about HKD 13,215,000 or 26.1% compared to the same period last year[17]. - The gross profit for the same period decreased by approximately HKD 7,312,000 or 50.3% to about HKD 7,213,000[17]. - The company's loss per share for the six months ended December 31, 2024, was approximately HKD 0.0103, compared to HKD 0.0184 for the same period in 2023[17]. - The board of directors did not recommend any dividend payment for the six months ended December 31, 2024[17]. - The net loss before tax for the period was HKD 7,663,000, an improvement from HKD 11,607,000 in the prior year[18]. - The total comprehensive loss for the period was HKD 4,759,000, compared to HKD 10,016,000 in the previous year[18]. - The company reported a loss attributable to equity holders of HKD 7,442,000 for the six months ended December 31, 2024, compared to a loss of HKD 11,024,000 in the same period of 2023, representing a 32.5% improvement[21]. - Total comprehensive income attributable to equity holders was a loss of HKD 4,900,000 for the six months ended December 31, 2024, compared to a loss of HKD 10,025,000 in 2023, indicating a 51.1% reduction in losses[21]. - The basic and diluted loss per share for equity holders was HKD 1.03 cents, an improvement from HKD 1.84 cents in the previous year, reflecting a 44.1% decrease in loss per share[21]. Income and Expenses - Other income for the period was HKD 630,000, up from HKD 337,000 in the previous year[18]. - The company recorded a tax credit of HKD 343,000 for the period, compared to HKD 588,000 in the previous year[18]. - The company reported a foreign exchange gain of HKD 2,620,000 due to the translation of overseas operations[18]. - Total other income for the six months ended December 31, 2024, was HKD 630,000, compared to HKD 337,000 for the same period in 2023, representing an increase of 87%[48]. - The net gain from other income and losses for the six months ended December 31, 2024, was HKD 5,496,000, significantly up from HKD 186,000 in 2023[49]. - Research and development costs for the six months ended December 31, 2024, were HKD 1,163,000, a decrease of 76.6% from HKD 4,962,000 in 2023[51]. - Selling expenses decreased by HKD 3,858,000 or 74.1% to approximately HKD 1,351,000, mainly due to reduced employee costs in the sales team[114]. - Financing costs decreased by HKD 55,000 or 23.9% to approximately HKD 175,000, with a significant reduction in lease liabilities interest expenses[116]. Assets and Liabilities - Non-current assets decreased to HKD 33,576,000 as of December 31, 2024, down from HKD 39,766,000 as of June 30, 2024, a decline of 15.6%[23]. - Current assets increased significantly to HKD 124,966,000 as of December 31, 2024, compared to HKD 93,542,000 as of June 30, 2024, representing a 33.5% increase[23]. - The company’s total equity decreased to HKD 65,632,000 as of December 31, 2024, down from HKD 70,391,000 as of June 30, 2024, a decline of 6.5%[25]. - The total liabilities increased to HKD 87,615,000 as of December 31, 2024, from HKD 54,991,000 as of June 30, 2024, representing an increase of approximately 59.2%[73]. - The company’s trade payables increased to HKD 11,957,000 as of December 31, 2024, from HKD 8,863,000 as of June 30, 2024, reflecting a growth of approximately 34.5%[73]. - The company’s prepaid expenses rose to HKD 16,689,000 as of December 31, 2024, compared to HKD 3,425,000 as of June 30, 2024, indicating a significant increase of approximately 387.5%[66]. Business Operations and Strategy - The company continues to focus on expanding its market presence and enhancing its product offerings[17]. - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[26]. - The group plans to continue expanding its network support and connection services in Malaysia and China, focusing on enhancing service offerings[44]. - The company plans to expand its e-commerce operations by exploring partnerships with well-known brands and e-commerce platforms, both domestically and internationally[91]. - The company has initiated a new business in network game IP licensing management services starting from November 2023[83]. - The group is exploring opportunities in the Chinese market for network support and connectivity services, with a potential partnership expected to be finalized in Q1 2025[97]. Shareholder and Corporate Governance - The company adopted a share incentive plan on April 14, 2023, which was approved by shareholders and became effective on April 21, 2023[163]. - The total number of shares that can be issued under the share incentive plan is capped at 10% of the company's total issued share capital as of the adoption date, equating to 60,000,000 shares[168]. - The company has appointed Oriental Fortune Securities Limited as the initial trustee for the share incentive plan[165]. - The audit committee consists of four members, including three independent non-executive directors, ensuring a wealth of experience in business, finance, and legal matters[186]. - The company has adopted and complied with the corporate governance code as per GEM listing rules, ensuring proper regulation of business activities and decision-making processes[187]. Market and Competitive Landscape - The group anticipates not renewing its network service provider license, which will expire in January 2030, due to foreign investment restrictions in Malaysia[94]. - The company sold its subsidiary, 米虫科技信息（深圳）有限公司, for approximately RMB 1 (equivalent to about HKD 1), and will no longer consolidate its financial results[79]. - The company sold MiChong (Shenzhen) Group for RMB 1 (approximately HKD 1) due to declining financial performance and market competitiveness[90].
比特元宇宙(08645) - 2025 - 中期业绩