Financial Highlights Steve Leung Design Group Limited announced interim results for the six months ended June 30, 2025, showing the company successfully turned losses into profits, with both revenue and gross profit increasing, though gross profit margin slightly decreased, basic earnings per share turned positive, total remaining contracts and current ratio improved, and cash position remained strong Financial Highlights for H1 2025 (million HKD) | Metric | 2025 (million HKD) | 2024 (million HKD) | | :--- | :--- | :--- | | Revenue for the Period | 194.6 | 164.5 | | Profit (Loss) for the Period | 1.0 | (7.4) | | Basic Earnings (Loss) Per Share (HK cents) | 0.14 | (0.54) | | Net Asset Value Per Share (HKD) | 0.28 (as at June 30, 2025) | 0.28 (as at December 31, 2024) | | Total Remaining Contracts | 538.5 (as at June 30, 2025) | 507.1 (as at December 31, 2024) | | Bank Balances and Cash | 112.7 (as at June 30, 2025) | 140.9 (as at December 31, 2024) | - The Board resolved not to declare any interim dividend for the six months ended June 30, 20259 Condensed Consolidated Financial Statements This section provides Steve Leung Design Group's unaudited condensed consolidated statement of profit or loss and other comprehensive income and condensed consolidated statement of financial position for the six months ended June 30, 2025, detailing key financial data such as revenue, costs, profits, assets, liabilities, and equity, compared with the same period last year or the end of last year Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income For the six months ended June 30, 2025, the Company's revenue increased by 18.3% to HKD 194.6 million, and gross profit increased by 14.2% to HKD 73.0 million, successfully turning losses into profits for the period with a recorded profit of HKD 0.971 million, compared to a loss of HKD 7.374 million in the same period last year, basic earnings per share was 0.14 HK cents, a significant improvement from basic loss per share of 0.54 HK cents last year Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (thousand HKD) | Metric | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Revenue | 194,592 | 164,514 | | Cost of Sales | (121,593) | (100,583) | | Gross Profit | 72,999 | 63,931 | | Other Gains and Losses | 874 | (2,937) | | Impairment Losses on Trade Receivables and Contract Assets under ECL Model | (9,793) | (5,390) | | Other Income | 2,325 | 1,021 | | Selling Expenses | (10,159) | (7,706) | | Administrative Expenses | (51,202) | (51,507) | | Finance Costs | (1,239) | (2,000) | | Profit (Loss) Before Tax | 3,805 | (4,588) | | Income Tax Expense | (2,834) | (2,786) | | Profit (Loss) for the Period | 971 | (7,374) | | Exchange Differences from Overseas Operations | 3,518 | (890) | | Total Comprehensive Income (Expense) for the Period | 4,489 | (8,264) | Earnings (Loss) Per Share (HK cents) | Metric | 2025 (HK cents) | 2024 (HK cents) | | :--- | :--- | :--- | | Basic | 0.14 | (0.54) | | Diluted | 0.14 | (0.54) | Condensed Consolidated Statement of Financial Position As at June 30, 2025, total assets less current liabilities was HKD 347.3 million, a slight decrease from HKD 348.1 million as at December 31, 2024, net current assets increased to HKD 238.6 million while current liabilities decreased, and equity attributable to owners of the Company increased to HKD 308.3 million Condensed Consolidated Statement of Financial Position (thousand HKD) | Metric | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | Non-current Assets | | | | Property, Plant and Equipment | 13,821 | 15,509 | | Right-of-use Assets | 35,210 | 40,174 | | Intangible Assets | 1,080 | 1,251 | | Goodwill | 1,182 | 1,166 | | Rental Deposits | 5,308 | 5,377 | | Deferred Tax Assets | 52,060 | 51,558 | | Total Non-current Assets | 108,661 | 115,035 | | Current Assets | | | | Inventories | 27 | 26 | | Trade Receivables | 158,919 | 138,730 | | Other Receivables, Deposits and Prepayments | 11,534 | 9,390 | | Contract Assets | 84,429 | 90,323 | | Tax Recoverable | 247 | 247 | | Restricted Bank Balances | 2,265 | 2,720 | | Bank Balances and Cash | 112,671 | 140,883 | | Total Current Assets | 370,092 | 382,319 | | Current Liabilities | | | | Trade Payables | 53,943 | 50,625 | | Other Payables and Accrued Expenses | 14,120 | 20,242 | | Bank Borrowings | 5,000 | 20,000 | | Lease Liabilities | 17,752 | 17,506 | | Contract Liabilities | 18,333 | 19,384 | | Tax Liabilities | 22,337 | 21,510 | | Total Current Liabilities | 131,485 | 149,267 | | Net Current Assets | 238,607 | 233,052 | | Total Assets Less Current Liabilities | 347,268 | 348,087 | | Total Equity | 318,548 | 314,059 | | Total Non-current Liabilities | 28,720 | 34,028 | Notes to the Condensed Consolidated Financial Information This section details the basis of preparation for the condensed consolidated financial statements, significant accounting policies, revenue and segment information, changes and composition of various assets and liabilities, and key financial notes including income tax, earnings per share, and contingent liabilities, providing deeper context for understanding the Company's financial position and operating results 1. General Information and Basis of Preparation The Company was incorporated in the Cayman Islands, its shares are listed on the Hong Kong Stock Exchange, the ultimate holding company is Jangho Group Co., Ltd., and the condensed consolidated financial statements are prepared in accordance with HKAS 34 and the Listing Rules of the Stock Exchange and presented in HKD - The Company was incorporated on December 9, 2016, under the Companies Act of the Cayman Islands, and its shares were listed on the Hong Kong Stock Exchange on July 5, 201815 - The Company's ultimate holding company is Jangho Group Co., Ltd., whose shares are listed on the Shanghai Stock Exchange15 - The condensed consolidated financial statements are prepared in accordance with HKAS 34 'Interim Financial Reporting' and the applicable disclosure requirements of Appendix D2 of the Listing Rules, and are presented in HKD1516 2. Significant Accounting Policies The condensed consolidated financial statements are prepared on a historical cost basis, with accounting policies consistent with the 2024 annual consolidated financial statements, except
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