Financial Performance - For the six months ended December 31, 2024, the company reported revenue of HKD 29,799,000, a decrease of 26.8% compared to HKD 40,558,000 in the same period of 2023[4] - The gross profit for the same period was HKD 6,411,000, down 30.4% from HKD 9,203,000 year-on-year[4] - The operating loss narrowed to HKD 15,712,000, significantly improved from a loss of HKD 50,090,000 in the previous year, indicating a reduction of 68.6%[4] - The net loss for the period was HKD 16,554,000, compared to a net loss of HKD 45,292,000 in the prior year, reflecting a 63.5% improvement[4] - The total comprehensive loss for the period was HKD 19,000,000, compared to HKD 40,301,000 in the previous year, indicating a reduction of 52.8%[4] - The total segment loss for the six months ended December 31, 2024, was HKD (3,902,000), significantly improved from HKD (41,003,000) in the previous year[31] - The company reported a basic and diluted loss per share of HKD 0.03, improved from HKD 0.11 in the same period last year[5] - The group’s net asset value decreased to approximately HKD 400,022,000 as of December 31, 2024, from HKD 491,022,000 as of June 30, 2024[94] Cash Flow and Liquidity - For the six months ended December 31, 2024, the company reported a net cash outflow from operating activities of HKD 1,213,000, a significant improvement from HKD 12,672,000 in the same period of 2023[12] - The company has implemented cost-saving measures to improve liquidity and cash flow, ensuring sufficient cash resources for future operational needs[18] - The cash flow forecast indicates that the company will have adequate cash resources to meet its operational funding and financing needs for at least the next twelve months[18] - The company’s cash and cash equivalents at the end of the period were HKD 16,626,000, compared to a negative balance of HKD 2,303,000 in the previous year[12] - The company raised borrowings amounting to HKD 21,080,000, compared to HKD 6,200,000 in the previous year, while repayments of borrowings were HKD 21,407,000, up from HKD 1,363,000[12] - The cash and cash equivalents decreased by HKD 3,647,000, an improvement from a decrease of HKD 7,958,000 in the prior year[12] Assets and Liabilities - The company's total assets decreased to HKD 507,696,000 from HKD 530,631,000, a decline of 4.3%[9] - Current liabilities increased to HKD 134,961,000 from HKD 130,767,000, representing a rise of 3.4%[9] - The group’s total assets as of December 31, 2024, were approximately HKD 642,657,000, down from HKD 661,398,000 as of June 30, 2024[94] - The total liabilities for the segments as of June 30, 2024, were HKD 71,544,000, compared to HKD 69,307,000 as of December 31, 2023[30] - Accounts payable as of December 31, 2024, were HKD 5,174,000, a decrease from HKD 6,448,000 as of June 30, 2024[60] - Other payables and accrued expenses increased to HKD 11,871,000 as of December 31, 2024, from HKD 8,683,000 as of June 30, 2024[60] Revenue Sources - The revenue from external customers for the six months ended December 31, 2024, was HKD 29,799,000, a decrease from HKD 40,558,000 for the same period in 2023[30] - The revenue from the sale of recycled metals was HKD 2,831,000 for the six months ended December 31, 2024[32] - The automotive and automotive parts business generated revenues of approximately HKD 22,507,000 for the six months ended December 31, 2024, down from HKD 30,418,000 in the previous year[73] - Rental income from parking spaces decreased to approximately HKD 1,767,000 for the six months ended December 31, 2024, compared to HKD 1,976,000 in 2023[77] - Loan interest income from lending operations was approximately HKD 191,000 for the six months ended December 31, 2024, up from HKD 109,000 in the same period of 2023[78] Fair Value Measurements - The fair value gain from investment properties was HKD 1,335,000, a recovery from a loss of HKD 11,400,000 in the previous year[4] - The fair value of biological assets was reported at HKD 182,620,000, with total recurring fair value measurements amounting to HKD 375,759,000[22] - The fair value of biological assets increased from HKD 182,620,000 on December 31, 2023, to HKD 190,958,000 on June 30, 2024[27] - The fair value of investment properties in Hong Kong decreased from HKD 192,855,000 to HKD 190,000,000 during the same period[27] - The fair value of industrial land and buildings in Dongguan was approximately HKD 48,528,000 as of December 31, 2024, down from HKD 50,498,000 as of June 30, 2024[70] Corporate Governance and Compliance - The company complied with the corporate governance code, with the exception of the separation of roles between the chairman and CEO[106] - The audit committee reviewed the interim report for the six months ended December 31, 2024, which included unaudited financial performance[109] Strategic Initiatives - The company continues to focus on its core business areas, including the trading of recycled metals and financial services, to enhance its market position[13] - The company plans to exit the Hong Kong metal recycling market and explore opportunities in other countries due to increasing procurement difficulties and rising costs[72] - The group has identified a business development opportunity related to rare earth projects in China and signed a memorandum of understanding for potential collaboration[88] Employment and Staffing - As of December 31, 2024, the group employed 52 staff, an increase from 44 staff as of June 30, 2024[100]
中国环境资源(01130) - 2025 - 中期业绩