Financial Performance - The company's revenue for the six months ended June 30, 2025, increased by 16.6% to HKD 35.8 million, compared to HKD 30.7 million in 2024[6] - Gross profit for the same period was HKD 11.5 million, with a gross margin of 32.1%, down from 35.1% in 2024[6] - The company achieved a net profit of HKD 3.4 million, recovering from a loss of HKD 6.1 million in 2024, primarily due to a 45.2% reduction in administrative expenses[7] - Revenue for the six months ended June 30, 2025, was HKD 35,771,000, representing a 16.7% increase from HKD 30,704,000 in the same period of 2024[42] - Gross profit for the six months ended June 30, 2025, was HKD 11,483,000, compared to HKD 10,790,000 for the same period in 2024, reflecting a 6.4% increase[42] - The company reported a net profit attributable to owners of HKD 3,353,000 for the six months ended June 30, 2025, compared to a loss of HKD 6,093,000 in the same period of 2024[39] - Operating cash flow generated for the six months ended June 30, 2025, was HKD 1,676,000, a significant improvement from cash used of HKD 11,513,000 in the same period of 2024[40] - The company incurred a loss of HKD 15,131,000 from fair value changes in financial assets for the six months ended June 30, 2024, compared to a loss of HKD 2,815,000 in the same period of 2025[1] - The company recorded a fair value loss of HKD 2,815,000 on listed equity investments during the first half of 2025[55] Cash Flow and Assets - Cash generated from operating activities was HKD 1.7 million, compared to an outflow of HKD 11.5 million in 2024[10] - The company's current assets increased by HKD 7.3 million to HKD 5.5 million, with cash and bank balances at HKD 9.9 million[9] - Cash and cash equivalents increased to HKD 9,923,000 as of June 30, 2025, from HKD 4,051,000 at the end of the same period in 2024[40] - Total assets as of June 30, 2025, were HKD 44,346,000, with total liabilities of HKD 38,537,000, resulting in a net asset value of HKD 5,809,000[45] - Total assets as of June 30, 2025, amounted to HKD 54,667,000, with reported segment assets of HKD 50,372,000[46] - Trade receivables decreased significantly to HKD 9,885,000 as of June 30, 2025, down from HKD 16,739,000 at the end of 2024[56] Liabilities and Equity - The company maintains a total debt level of HKD 31.3 million, similar to HKD 33.1 million as of December 31, 2024[9] - Total liabilities as of June 30, 2025, were HKD 52,211,000, with reported segment liabilities of HKD 31,703,000[46] - The company’s bank loans decreased to HKD 13,293,000 as of June 30, 2025, from HKD 14,436,000 at the end of 2024[58] - The company’s total equity increased to HKD 5,809,000 as of June 30, 2025, compared to HKD 2,456,000 at the beginning of the year[39] Market Outlook and Strategy - The Hong Kong medical equipment market is expected to grow at a rate of 8.3% by 2025 and continue at a CAGR of 7.6% from 2025 to 2030[5] - The company plans to expand its product offerings and strengthen financial resources to participate in suitable public sector project tenders[5] - The company remains optimistic about the Hong Kong medical device market and aims for organic growth through improved business models and increased market penetration[11] Employee and Management - As of June 30, 2025, the company had 20 employees, with employee costs amounting to HKD 1.9 million for the six months ended June 30, 2025, compared to HKD 3.2 million in 2024[19] - The company has implemented a prudent financial management policy, closely monitoring liquidity ratios to meet capital requirements[18] Corporate Governance - The company is committed to maintaining high standards of corporate governance and has complied with the relevant corporate governance code provisions[36] - The audit committee, consisting of three independent non-executive directors, reviewed the interim financial statements, which were not audited but deemed compliant with applicable accounting standards[37] Stock Options and Securities - The total number of stock options available for grant under the plan as of June 30, 2025, is 32,603,682, representing 10% of the issued shares[33] - There were no stock options granted, exercised, expired, or canceled during the six months ended June 30, 2025[27] - The company has a stock option plan that aims to recognize past contributions and incentivize future contributions from eligible participants[25] - The company has not purchased, sold, or redeemed any of its listed securities during the six months ended June 30, 2025[24] - The company has not established a foreign currency hedging policy due to its assets and liabilities being primarily denominated in HKD[17] - The company has not reported any significant foreign exchange risk exposure and will consider hedging measures if necessary[17] Dividends - The company did not declare an interim dividend for the reporting period, consistent with 2024[52] Other Information - No significant capital raising activities or major investments were completed during the six months ended June 30, 2025[12][13] - There were no significant events affecting the company's operations or financial performance after June 30, 2025[60]
京玖康疗(00648) - 2025 - 中期财报