百利达集团控股(08179) - 2025 - 中期业绩

Interim Results Announcement Announcement Details Palinda Group Holdings Limited announced its unaudited condensed consolidated interim results for the six months ended June 30, 2025, complying with GEM Listing Rules disclosure requirements - This announcement contains the company's full 2025 interim report, complying with GEM Listing Rules for preliminary interim results announcements[3] - The Board of Directors includes executive directors Ms. Wong Wai (Chairperson) and Mr. Dou Sheng, and independent non-executive directors Mr. Wu Tsz King, Mr. So Yat Chuen, and Ms. Cheng Wai[4] GEM Listing Features and Disclaimer GEM Features The GEM market provides a listing platform for small and medium-sized companies with higher investment risks, requiring investors to understand potential risks and make prudent decisions; GEM securities may face significant market volatility and liquidity cannot be guaranteed - GEM provides a listing market for small and medium-sized companies with higher investment risks compared to other listed companies on the Stock Exchange[5] - GEM securities may be subject to significant market volatility and high liquidity cannot be guaranteed[5] Company Information Board and Key Personnel The company's Board of Directors comprises two executive directors (Ms. Wong Wai as Chairperson) and three independent non-executive directors, with details on compliance officer, authorized representatives, company secretary, and committee members - Executive Directors: Ms. Wong Wai (Chairperson), Mr. Dou Sheng[6] - Independent Non-Executive Directors: Mr. Wu Tsz King, Mr. So Yat Chuen, Ms. Cheng Wai[6] - Mr. Wu Tsz King chairs the Audit Committee, while Mr. So Yat Chuen chairs both the Remuneration Committee and Nomination Committee[6] Corporate Details The company is registered in the Cayman Islands, with its Hong Kong head office in Hung Hom, Kowloon; its share registrar is Union Registrars Limited, website www.palinda.com, and GEM stock code 8179 - Registered office is located at Cricket Square, Cayman Islands[7] - Hong Kong head office, headquarters, and principal place of business are located at Unit 306-A201, 3/F, Tower 1, Harbour Centre, 1 Hok Cheung Street, Hung Hom, Kowloon, Hong Kong[7] - GEM stock code is 8179[7] Condensed Consolidated Financial Statements Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income For the six months ended June 30, 2025, the Group's revenue significantly decreased, leading to a substantial reduction in profit for the period and earnings per share, with other comprehensive income primarily affected by exchange differences Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the six months ended June 30) | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Revenue | 64,368 | 218,804 | | Cost of sales | (55,795) | (170,466) | | Gross profit | 8,573 | 48,338 | | Profit before tax | 1,397 | 39,135 | | Income tax expense | (365) | (6,317) | | Profit for the period | 1,032 | 32,818 | | Total comprehensive income for the period | 1,032 | 32,968 | | Basic and diluted earnings per share (HK cents) | 0.05 | 2.73 | - Interim revenue for 2025 significantly decreased by approximately 70.6%, from HK$218,804 thousand to HK$64,368 thousand[8] - Profit for the period sharply declined from HK$32,818 thousand in interim 2024 to HK$1,032 thousand in interim 2025, a decrease of approximately 96.9%[8] Condensed Consolidated Statement of Financial Position As of June 30, 2025, the Group's total assets and total equity slightly increased, with net current assets remaining stable; inventory remains the largest current asset, and borrowings are the primary current liability Condensed Consolidated Statement of Financial Position (As at June 30, 2025) | Metric | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Non-current assets | 86 | 440 | | Current assets | 581,866 | 579,730 | | Inventories | 571,071 | 561,570 | | Bank balances and cash | 2,613 | 7,298 | | Current liabilities | 142,384 | 141,621 | | Borrowings | 116,894 | 116,894 | | Net current assets | 439,482 | 438,109 | | Net assets | 439,568 | 438,536 | | Total equity | 439,568 | 438,536 | - Inventories constitute a very high proportion of current assets, reaching HK$571,071 thousand, a slight increase from the end of 2024[11] - Bank balances and cash decreased from HK$7,298 thousand at the end of 2024 to HK$2,613 thousand[11] Condensed Consolidated Statement of Changes in Equity For the six months ended June 30, 2025, equity attributable to owners of the company slightly increased due to profit for the period; in the same period of 2024, equity changes were primarily influenced by share issuance and profit for the period Condensed Consolidated Statement of Changes in Equity (For the six months ended June 30) | Metric | June 30, 2025 (HK$ thousand) | June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Equity attributable to owners of the Company (End of period) | 439,568 | 422,759 | | Profit and other comprehensive income for the period | 1,032 | 32,968 | | Shares issued under subscription agreement (2024) | - | 23,683 | | Expenses for share issuance (2024) | - | (59) | - In the first half of 2025, equity attributable to owners of the company increased from HK$438,536 thousand at the beginning of the year to HK$439,568 thousand, primarily due to profit for the period[13] - In the same period of 2024, total equity significantly increased due to share issuance (HK$23,683 thousand) and total comprehensive income for the period (HK$32,968 thousand)[13] Condensed Consolidated Statement of Cash Flows For the six months ended June 30, 2025, the Group generated net cash outflows from operating, investing, and financing activities, resulting in a significant decrease in cash and cash equivalents at period-end Condensed Consolidated Statement of Cash Flows (For the six months ended June 30) | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Net cash used in operating activities | (4,531) | (6,001) | | Net cash (used in) / generated from investing activities | (103) | 675 | | Net cash (used in) / generated from financing activities | (51) | 5,417 | | Net (decrease) / increase in cash and cash equivalents | (4,685) | 91 | | Cash and cash equivalents at end of period | 2,613 | 3,459 | - Net cash outflow from operating activities in the first half of 2025 was HK$4,531 thousand, an improvement compared to HK$6,001 thousand in the same period of 2024[16] - Cash and cash equivalents at period-end decreased from HK$7,298 thousand at the beginning of the period to HK$2,613 thousand, a net decrease of HK$4,685 thousand[16] Notes to the Condensed Consolidated Financial Statements General Information Palinda Group Holdings Limited is incorporated in the Cayman Islands and listed on GEM of the Hong Kong Stock