Financial Performance - The company reported revenue of approximately HKD 161,056,000 for the six months ended December 31, 2024, a decrease of 15.4% compared to HKD 190,330,000 for the same period in 2023[8]. - Gross profit for the same period was approximately HKD 21,130,000, with a gross margin of 13.1%, compared to a gross profit of HKD 16,795,000 and a margin of 8.8% in the previous year, reflecting an increase of HKD 4,335,000 and 4.3% respectively[8]. - The company recorded a loss attributable to owners of approximately HKD 13,661,000, compared to a loss of HKD 6,734,000 in the same period last year, mainly due to impairment losses on receivables and increased depreciation and finance costs[9]. - The company incurred a loss before tax of HKD 11,202,000, compared to a loss of HKD 2,845,000 in the prior year, indicating a significant increase in losses[37]. - The net loss for the period was HKD 13,054,000, compared to a net loss of HKD 4,030,000 in the same period last year, reflecting a worsening financial performance[37]. - Basic and diluted loss per share was HKD 7.97, compared to HKD 3.93 in the previous year, indicating a higher loss per share[37]. - The company reported a net other comprehensive loss of HKD 510,000 for the period, compared to a gain of HKD 5,530,000 in the previous year[39]. - The company reported a loss attributable to shareholders of approximately HKD 13,661,000 for the six months ended December 31, 2024, compared to a loss of HKD 6,734,000 for the same period in 2023[67]. Expenses and Costs - Administrative expenses increased by 28.8% to approximately HKD 12,126,000, primarily due to increased depreciation of property, plant, and equipment in China[8]. - The company incurred a depreciation expense for property, plant, and equipment of HKD 6,585,000 for the six months ended December 31, 2024, compared to HKD 3,691,000 in the previous year[65]. - Employee costs, including director remuneration, amounted to approximately HKD 4,189,000 for the six months ending December 31, 2024, compared to HKD 3,591,000 for the same period in 2023[28]. - Interest expenses paid to the ultimate holding company amounted to HKD 139,000 for the six months ended December 31, 2024, compared to HKD 78,000 in the same period of 2023, reflecting an increase of 78.2%[75]. - The total salary for key management members increased to HKD 618,000 in the six months ended December 31, 2024, up from HKD 262,000 in the same period of 2023, representing a growth of 135.5%[77]. Debt and Liabilities - Total debt as of December 31, 2024, was approximately HKD 146,879,000, up from HKD 135,902,000 as of June 30, 2024[10]. - The net debt to total assets ratio was approximately 80.5% as of December 31, 2024, compared to 63.8% as of June 30, 2024[10]. - The company incurred a loss of HKD 13,661,000 during the reporting period, contributing to a total equity deficit of HKD (93,174,000) as of December 31, 2024[45]. - The company’s total liabilities exceeded total assets, resulting in a net asset deficiency of HKD (57,072,000) as of December 31, 2024[40]. Assets - As of December 31, 2024, non-current assets totaled HKD 87,468,000, down from HKD 95,100,000 as of June 30, 2024, representing a decrease of approximately 8.5%[40]. - Current assets decreased to HKD 92,870,000 from HKD 114,398,000, reflecting a decline of about 18.8%[40]. - The company’s trade receivables as of December 31, 2024, amounted to HKD 25,064,000, a decrease from HKD 34,945,000 as of June 30, 2024[69]. - The provision for impairment of trade receivables was HKD 1,953,000 as of December 31, 2024, compared to HKD 5,785,000 as of June 30, 2024[69]. - Cash and cash equivalents at the end of the period were HKD 1,784,000, down from HKD 2,161,000 at the beginning of the period[47]. Corporate Governance - The company is currently seeking suitable candidates to fill vacancies in the audit committee to comply with listing rules, following the resignation of a director[36]. - The audit committee is composed of two independent non-executive directors, which is below the required minimum of three members as per listing rules[36]. - The company has adopted corporate governance principles as per the listing rules, although it has not separated the roles of Chairman and CEO, which is a deviation from the guidelines[32]. - The company has adopted the Standard Code for Directors' Securities Transactions as per the Listing Rules Appendix C3, and all directors confirmed compliance during the six months ending December 31, 2024[31]. Strategic Plans and Market Position - The company aims to continue strategic acquisitions to capture new opportunities in the Chinese market and strengthen its revenue and profit base[13]. - The company is actively seeking growth projects for acquisition or investment and is in discussions with various parties regarding such opportunities[13]. - The board believes that the company will have sufficient cash resources to meet its operational funding and other financing needs for the next twelve months[53]. - The company is in discussions with potential investors to raise sufficient funds through financing arrangements[55]. Shareholder Information - The major shareholder, Mr. Lin Qingqu, holds 268,072,400 shares, representing approximately 156.33% of the issued shares[22]. - Onward Global Investments holds 12,863,500 shares, representing approximately 7.50% of the issued shares[22]. - Fair Concourse Limited holds 14,127,040 shares, representing approximately 8.24% of the issued shares[23]. - The company has not declared any interim dividends for the six months ended December 31, 2024[66]. Compliance and Reporting - The company has adopted all new and revised Hong Kong Financial Reporting Standards effective from July 1, 2023, with no significant impact on its financial performance or position expected[56]. - The company has no significant investments or capital asset plans as of December 31, 2024, apart from necessary capital expenditures for operations[17]. - There were no purchases, sales, or redemptions of any listed securities by the company or any of its subsidiaries during the six months ending December 31, 2024[30].
玮俊生物科技(00660) - 2025 - 中期财报