Financial Performance - For the six months ended December 31, 2024, the company reported a revenue of HKD 299,714,000, a decrease of 47.3% compared to HKD 567,572,000 for the same period in 2023[2]. - The gross profit for the same period was HKD 25,568,000, representing a gross margin of approximately 8.5%, up from HKD 18,434,000 in 2023[2]. - The company incurred a pre-tax loss of HKD 30,068,000, an improvement from a pre-tax loss of HKD 69,469,000 in the previous year[3]. - The net loss for the period was HKD 26,572,000, compared to a net loss of HKD 59,177,000 in the same period last year, indicating a reduction in losses[3]. - The company reported a total comprehensive loss of HKD 33,279,000 for the period, compared to a total comprehensive loss of HKD 22,350,000 in the previous year[3]. - The basic and diluted loss per share was HKD 0.22, an improvement from HKD 0.49 in the same period last year[3]. - The company reported a total comprehensive loss of HKD 30,068,000 for the six months ended December 31, 2024, compared to a loss of HKD 69,469,000 in the same period of 2023, marking a significant improvement[24]. Assets and Liabilities - Total assets as of December 31, 2024, were HKD 1,289,294,000, down from HKD 1,367,315,000 as of June 30, 2024[5]. - Current liabilities decreased to HKD 367,138,000 from HKD 404,822,000, reflecting improved liquidity management[5]. - The company’s total liabilities decreased from HKD 1,745,636,000 to HKD 1,771,862,000 during the reporting period[8]. - The total liabilities as of December 31, 2024, were HKD 522,118,000, down from HKD 568,589,000 as of June 30, 2024, reflecting a decrease of approximately 8.2%[25]. - As of December 31, 2024, trade receivables were approximately HKD 62,421,000, down from HKD 83,113,000 as of June 30, 2024[43]. - The group’s trade payables were HKD 70,128,000 as of December 31, 2024, down from HKD 117,763,000 as of June 30, 2024[48]. Cash Flow and Financing - The net cash generated from operating activities for the six months ended December 31, 2024, was HKD 17,101,000, compared to HKD 6,254,000 for the same period in 2023[10]. - The company’s cash and cash equivalents stood at HKD 83,441,000, down from HKD 102,526,000 as of June 30, 2024[5]. - The net cash used in financing activities for the six months ended December 31, 2024, was HKD 38,520,000, compared to a net cash inflow of HKD 10,342,000 in the previous year[10]. - The group raised new borrowings of HKD 43,412,000 for the six months ending December 31, 2024, compared to HKD 99,401,000 for the same period in 2023[50]. - The average effective annual interest rate for bank borrowings ranged from 3.5% to 7.0% as of December 31, 2024[50]. - The group generated operating funds primarily from operating cash flow and bank borrowings[77]. Revenue Breakdown - For the six months ending December 31, 2024, total external customer revenue was HKD 299,714,000, with contributions from cable and wire manufacturing (HKD 92,846,000), copper rod trading (HKD 196,284,000), and investment properties (HKD 10,584,000)[19]. - The revenue from the wire and cable business was approximately HKD 92,846,000, a decrease of about 20.6% from approximately HKD 116,998,000 in the same period last year, accounting for about 31.0% of total revenue[61]. - The copper rod business generated revenue of approximately HKD 196,284,000, down about 55.9% from approximately HKD 444,970,000 in the same period last year, representing about 65.5% of total revenue[61]. - Revenue from mainland China and Hong Kong dropped by approximately 51.0% to HKD 251,316,000 from HKD 512,657,000 in the same period last year, accounting for about 83.9% of total revenue[62]. Strategic Initiatives - The company plans to focus on cost control and operational efficiency to improve future performance[2]. - The company plans to focus on core business development, expanding into new energy, robotics, and AI applications, while enhancing product development capabilities[70]. - The company aims to optimize its management system through lean management to improve operational efficiency and reduce resource waste[71]. - The group will implement a major customer strategy to deepen cooperation with core customers and explore industry transformation pathways[70]. Governance and Compliance - The company has adopted the corporate governance code as per Listing Rule Appendix C1, with compliance to all relevant provisions except for specific deviations noted[130]. - The company has complied with the listing rules regarding board member gender diversity by appointing at least one female director by December 31, 2024[127]. - The company appointed Ms. Dou as an independent non-executive director effective December 18, 2024, enhancing board diversity[126]. Legal and Regulatory Matters - An indirect non-wholly owned subsidiary, Zhou's Stone, was ordered to pay approximately RMB 21,000,000 due to a lawsuit related to halted land development projects since 2020[105]. - The company is closely monitoring the litigation situation and will inform shareholders of any significant developments[107].
星凯控股(01166) - 2025 - 中期业绩