易通讯集团(08031) - 2025 - 中期业绩

Performance Highlights Performance Highlights For the six months ended June 30, 2025, the Group's total revenue was approximately HK$42.63 million, a slight year-on-year decrease of 0.3%, with profit attributable to owners at HK$0.976 million, down 65.5%, and EPS at HK$0.0033 Performance Highlights for the Six Months Ended June 30, 2025 | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Total Revenue | Approx. HK$42,625,000 | Approx. HK$42,768,000 | -0.3% | | Profit Attributable to Owners of the Company | Approx. HK$976,000 | Approx. HK$2,825,000 | -65.5% | | Earnings Per Share | Approx. HK$0.0033 | Approx. HK$0.0096 | -65.6% | Consolidated Financial Statements Condensed Consolidated Statement of Comprehensive Income During the reporting period, Group revenue was HK$42.625 million, largely flat year-on-year, but profit before tax decreased from HK$3.002 million to HK$0.976 million due to significantly lower other income and increased expenses Condensed Consolidated Statement of Comprehensive Income Summary (HK$'000) | Item | 2025 H1 (Unaudited) | 2024 H1 (Unaudited) | | :--- | :--- | :--- | | Revenue | 42,625 | 42,768 | | Other Income | 1,625 | 6,921 | | Employee Benefit Expenses | (37,974) | (35,360) | | Depreciation and Amortization | (1,762) | (839) | | Other Operating Expenses | (3,348) | (10,353) | | Operating Profit | 1,037 | 3,014 | | Profit Before Tax | 976 | 3,002 | | Profit for the Period | 976 | 2,825 | Condensed Consolidated Statement of Financial Position As of June 30, 2025, total assets were HK$75.673 million, total liabilities HK$14.303 million, and net assets HK$61.37 million, a slight increase from HK$60.394 million at year-end 2024, with a significant decrease in cash and cash equivalents offset by new fixed deposits Consolidated Statement of Financial Position Summary (HK$'000) | Item | As at June 30, 2025 (Unaudited) | As at December 31, 2024 (Audited) | | :--- | :--- | :--- | | Non-current Assets | 3,721 | 7,938 | | Current Assets | 71,952 | 71,614 | | Of which: Cash and Cash Equivalents | 19,553 | 49,523 | | Of which: Fixed Deposits | 33,000 | – | | Current Liabilities | 14,289 | 18,785 | | Non-current Liabilities | 14 | 373 | | Net Assets | 61,370 | 60,394 | | Total Equity | 61,370 | 60,394 | Condensed Consolidated Statement of Changes in Equity As of June 30, 2025, total equity attributable to owners of the Company was HK$61.37 million, primarily increasing due to the HK$0.976 million profit recorded during the period - As of June 30, 2025, total equity was HK$61,370 thousand, an increase of HK$976 thousand from HK$60,394 thousand at the beginning of the period, primarily driven by profit for the period[10] Condensed Consolidated Statement of Cash Flows During the reporting period, net cash generated from operating activities significantly decreased to HK$3.874 million, with net cash outflow from investing activities at HK$32.678 million, mainly for fixed deposits, resulting in cash and cash equivalents decreasing to HK$19.553 million at period-end Condensed Consolidated Statement of Cash Flows Summary (HK$'000) | Item | 2025 H1 (Unaudited) | 2024 H1 (Unaudited) | | :--- | :--- | :--- | | Net Cash Generated from Operating Activities | 3,874 | 8,278 | | Net Cash Used in Investing Activities | (32,678) | (23,259) | | Net Cash Used in Financing Activities | (1,166) | (134) | | Net Decrease in Cash | (29,970) | (15,115) | | Cash at Beginning of Period | 49,523 | 26,587 | | Cash at End of Period | 19,553 | 11,472 | Notes to Financial Information Segment Information and Revenue The Group's business segments include outsourced inbound/outbound customer contact, staff secondment, equipment management, and other services, with staff secondment being the largest revenue source at 67% of total revenue; financial services ceased in late 2024, and overall segment results significantly decreased to HK$5.084 million - The Group's reportable operating segments include outsourced inbound/outbound customer contact services, staff secondment services, customer contact service center equipment management services, and other services; financial services related to credit financing ceased operations on December 27, 2024[16] Segment Revenue and Results (HK$'000) | Segment | 2025 H1 Revenue | 2024 H1 Revenue | 2025 H1 Results | 2024 H1 Results | | :--- | :--- | :--- | :--- | :--- | | Outsourced Inbound Customer Contact Services | 6,506 | 8,421 | 527 | 824 | | Staff Secondment Services | 28,567 | 26,768 | 2,829 | 1,494 | | Equipment Management Services | 1,542 | 3,312 | 278 | 861 | | Financial Services (Terminated) | – | 12 | – | 6,182 | | Others | 6,010 | 4,255 | 1,450 | 976 | | Total | 42,625 | 42,768 | 5,084 | 10,337 | Interim Dividend The Board does not recommend paying any interim dividend for the six months ended June 30, 2025, consistent with the prior year - The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2025 (2024: nil)[23] Earnings Per Share Basic earnings per share for the six months ended June 30, 2025, was HK$0.0033, calculated based on HK$0.976 million profit and 295,625,000 weighted average ordinary shares, with diluted EPS equal to basic EPS due to no potential dilutive ordinary shares Earnings Per Share Calculation | Item | 2025 H1 | 2024 H1 | | :--- | :--- | :--- | | Profit Attributable to Owners of the Company | HK$976,000 | HK$2,825,000 | | Weighted Average Number of Ordinary Shares in Issue | 295,625,000 Shares | 295,625,000 Shares | | Basic and Diluted Earnings Per Share | HK$0.0033 | HK$0.0096 | Management Discussion and Analysis Business Review and Outlook Despite export-driven growth in Hong Kong's economy, geopolitical tensions foster a cautious business environment, while a tight labor market increases recruitment costs and wages, pressuring profit margins; the Group is focusing on system solutions and AI integration into customer contact centers, with management cautiously optimistic for 2025, expecting AI to drive new business momentum - The macroeconomic environment remains challenging due to geopolitical influences, leading to a cautious local business sentiment[36] - The tight local labor market has led to increased wages and recruitment costs, impacting profit margins; management has strengthened talent retention programs to mitigate these costs[37] - The Group is focused on developing system solution businesses and collaborating with local AI companies to integrate AI technologies, such as chatbots and voice bots, into customer contact service center systems to enhance operational efficiency[38] - Management maintains a cautiously optimistic outlook for the 2025 financial performance, anticipating that the integration of AI technology will bring new momentum to the business[39] Financial Review During the reporting period, total Group revenue slightly decreased to HK$42.6 million, gross profit margin significantly dropped from 24.2% to 11.9%, and profit attributable to owners decreased from HK$2.8 million to HK$1 million, primarily due to a substantial decline in other income from reduced expected credit loss provisions on recovered financial assets Financial Performance Overview | Metric | 2025 H1 | 2024 H1 | | :--- | :--- | :--- | | Total Revenue | Approx. HK$42.6 million | Approx. HK$42.8 million | | Gross Profit Margin | Approx. 11.9% | Approx. 24.2% | | Profit Attributable to Owners of the Company | Approx. HK$1 million | Approx. HK$2.8 million | - The decrease in profit is primarily due to a significant decline in other income, resulting from reduced expected credit loss provisions on recovered financial assets[51][53] Segment Performance Analysis During the reporting period, staff secondment services revenue grew by 6.7%, becoming the primary growth driver, while outsourced inbound services and equipment management services revenues decreased by 22.6% and 53.4% respectively, with other services (mainly system-related) showing significant revenue growth - Outsourced inbound customer contact services revenue decreased by 22.6% to HK$6.5 million due to reduced customer sales orders[45] - Staff secondment services revenue increased by 6.7% to HK$28.6 million due to increased customer demand, with gross profit margin rising from 5.6% to 9.9% due to reduced expected credit losses[46] - Customer contact service center equipment management services revenue significantly decreased by 53.4% to HK$1.5 million due to reduced customer service demand[47] - Other services (Weis related services) revenue increased to HK$6 million (compared to HK$4.3 million in the prior period) due to increased demand for system-related services[50] - Financial services business was sold and ceased operations on December 27, 2024[49] Corporate Governance and Other Disclosures Corporate Governance The Company complied with all Corporate Governance Code provisions in Appendix C1 of the GEM Listing Rules during the reporting period, having adopted and confirmed compliance with a code of conduct for directors' securities transactions - For the entire six-month period ended June 30, 2025, the Company complied with all code provisions set out in the Corporate Governance Code in Appendix C1 to the GEM Listing Rules[54] Directors' and Major Shareholders' Interests As of June 30, 2025, Mr. Tang Yiu Sing, as executor or administrator of the late Mr. Tang Shing Bor's will, held 210,000,000 shares, representing 71.04% of the issued share capital, through Mastermind Enterprises Limited Major Shareholders' Shareholding | Shareholder Name/Capacity | Nature of Interest | Number of Shares Held | Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | | Tang Yiu Sing (Executor or Administrator of the Will of the late Tang Shing Bor) | Corporate Interest | 210,000,000 | 71.04% | Audit Committee The Audit Committee has reviewed the Group's unaudited interim results for the six months ended June 30, 2025, confirming compliance with accounting policies and adequate disclosure - The Audit Committee has reviewed the Group's unaudited interim results and is of the opinion that the accounting policies comply with Hong Kong Generally Accepted Accounting Principles, the Stock Exchange, and legal requirements, with adequate disclosure made[62]