Financial Performance - For the six months ended December 31, 2024, the company reported revenue of HKD 21,135,000, an increase of 104% compared to HKD 10,324,000 for the same period in 2023[3] - The gross profit for the same period was HKD 10,088,000, representing a gross margin of approximately 47.7%[3] - The operating loss increased to HKD 27,752,000 from HKD 12,860,000 year-over-year, indicating a deterioration in operational performance[3] - The net loss for the period was HKD 31,196,000, compared to a net loss of HKD 15,638,000 in the previous year, reflecting a 99% increase in losses[3] - The group reported external customer revenue of HKD 21,135,000 for the six months ended December 31, 2024, compared to HKD 10,324,000 for the same period in 2023, representing a 104.0% increase[20] - The group incurred a total segment loss of HKD 23,972,000 for the six months ended December 31, 2024, compared to a loss of HKD 8,597,000 for the same period in 2023, indicating a significant increase in losses[23] - The group’s total comprehensive loss before tax for the six months ended December 31, 2024, was HKD 31,029,000, compared to a loss of HKD 15,638,000 for the same period in 2023, indicating a worsening financial position[30] - The loss for the six months ended December 31, 2024, was approximately HKD 31,000,000, primarily due to a fair value loss of investment properties amounting to approximately HKD 21,000,000[39] Assets and Liabilities - The company's total assets as of December 31, 2024, were HKD 634,942,000, down from HKD 658,992,000 as of June 30, 2024[6] - Current liabilities amounted to HKD 135,705,000, slightly decreased from HKD 141,354,000 in the previous period[6] - The company had a net current liability of HKD 98,059,000, indicating potential liquidity challenges[10] - As of December 31, 2024, the group's current liabilities net amount is approximately HKD 98 million, with a current ratio of 0.28[59] - The group's total outstanding liabilities as of December 31, 2024, are approximately HKD 155 million, including bank borrowings of about HKD 103 million[59] - The group's capital debt ratio is approximately 23%, calculated as total liabilities divided by total assets[61] Revenue Sources - Revenue from external customers in Hong Kong decreased to HKD 2,894,000 for the six months ended December 31, 2024, down from HKD 4,341,000 in 2023, a decline of 33.4%[24] - Revenue from Finland significantly increased to HKD 17,444,000 for the six months ended December 31, 2024, compared to HKD 5,241,000 in the same period of 2023, marking a growth of 233.5%[24] Shareholder Information - Basic loss per share for the period was HKD 2.16, compared to HKD 0.96 in the previous year, indicating a significant increase in losses per share[4] - The weighted average number of ordinary shares used for calculating basic loss per share increased to 1,450,294,733 for the six months ended December 31, 2024, from 1,401,437,549 in the previous year[34] - The company has issued 243,661,670 new shares as a result of the redemption of convertible bonds, with an outstanding amount of HKD 60,394,376 as of November 25, 2024[69] - The group did not declare or propose any dividends for the six months ended December 31, 2024, consistent with the previous year[31] Corporate Governance and Compliance - The company is required to appoint at least one director of a different gender by December 31, 2024, to comply with the Hong Kong Stock Exchange's diversity requirements[70] - The company must take necessary actions within 18 months from November 27, 2024, to demonstrate compliance with Listing Rule 13.24, or risk delisting[71] - The company continues to adhere to corporate governance principles, with plans to review existing company rules at an appropriate time[75] - The interim report will be made available on the company's website and sent to shareholders at the appropriate time[76] - The chairman, Dr. Wong, is temporarily acting as the CEO, as no new CEO has been appointed[77] - The company advises shareholders and potential investors to exercise caution when trading its securities[78] - The board of directors consists of six members, including independent non-executive directors[79] Investment and Development - The company has invested approximately HKD 160,000,000 in collaboration with the Finnish National Technology Innovation Agency and plans to make significant investments in the coming years[42] - The technology department consists of about 29 R&D engineers, with expectations to generate USD 29,000,000 in revenue by 2029[42] - The portable X-ray devices developed by the subsidiary Pexray Oy are focused on security and non-destructive testing applications, with sales growth driven primarily by non-destructive testing sales[48] - Navigs Oy is developing advanced GNSS and imaging positioning solutions, with applications extending beyond agriculture to include construction and maritime sectors[49] - The IPESSA Tiny positioning solution was completed in early 2021, with customer trials delayed due to chip shortages, but completed in the first half of 2022 across Finland, Europe, and Turkey[49] - The first IPESSA Base Station, which provides RTK correction data for centimeter-level positioning, was delivered in December 2023[51] - The RTK VINS project is being developed in collaboration with Dynim Oy and aims to provide advanced positioning, sensing, and connectivity solutions[52] - The first prototype of the RTK VINS AI platform, based on NVIDIA technology, is targeted for release in Q1 2025[54] Other Financial Information - The company is implementing strategies to improve revenue and profitability, including cost control measures[10] - The group’s total unallocated expenses for the six months ended December 31, 2024, were HKD 10,305,000, slightly down from HKD 10,721,000 in the same period of 2023[23] - The financing costs increased to HKD 3,277,000 for the six months ended December 31, 2024, up from HKD 2,778,000 in the same period of 2023, reflecting a rise in interest expenses[27] - The company has not yet published its interim results for the six months ending December 31, 2024, but the audit committee has reviewed the accounting principles and internal controls[74] - Total sales for the six months ended December 31, 2024, were approximately HKD 18,000,000[46] - Trade receivables increased to HKD 5,003,000 as of December 31, 2024, compared to HKD 2,618,000 as of June 30, 2024[35]
PALADIN(00495) - 2025 - 中期业绩