网誉科技(01483) - 2025 - 中期业绩

Financial Highlights NET-A-GO TECHNOLOGY LIMITED reported 73.0% revenue growth and a shift from loss to profit for H1 2025, with 6.4 HK Cents basic and diluted EPS - No interim dividend declared for the period[2] Interim Financial Highlights | Metric | Six Months Ended June 30, 2025 (HKD Thousand) | Prior Period (HKD Thousand) | Change Rate | |---|---|---|---| | Revenue | 180,697 | 104,428 | +73.0% | | Profit/(Loss) attributable to equity holders of the Company from continuing operations | 22,670 | (4,225) | Turned from loss to profit | | Profit/(Loss) attributable to equity holders of the Company | 47,535 | (4,811) | Turned from loss to profit | | Basic and diluted earnings per share (HK Cents) | 6.4 | (0.6) | Turned from loss to profit | Condensed Consolidated Statement of Comprehensive Income The condensed consolidated statement of comprehensive income shows significant revenue and gross profit growth, with operating profit turning from loss to profit Condensed Consolidated Statement of Comprehensive Income (For the Six Months Ended June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change | Change Rate | |---|---|---|---|---| | Revenue | 180,697 | 104,428 | +76,269 | +73.0% | | Cost of Revenue | (147,258) | (97,334) | (49,924) | +51.3% | | Gross Profit | 33,439 | 7,094 | +26,345 | +371.4% | | Operating Profit/(Loss) | 20,940 | (5,801) | +26,741 | Turned from loss to profit | | Profit/(Loss) from continuing operations for the period | 18,390 | (7,078) | +25,468 | Turned from loss to profit | | Profit/(Loss) from discontinued operations for the period | 24,865 | (586) | +25,451 | Turned from loss to profit | | Profit/(Loss) attributable to equity holders of the Company | 47,535 | (4,811) | +52,346 | Turned from loss to profit | | Basic and diluted EPS (HK Cents) - Continuing operations | 3.1 | (0.5) | +3.6 | Turned from loss to profit | | Basic and diluted EPS (HK Cents) - Discontinued operations | 3.3 | (0.1) | +3.4 | Turned from loss to profit | | Basic and diluted EPS (HK Cents) - Total | 6.4 | (0.6) | +7.0 | Turned from loss to profit | Condensed Consolidated Statement of Financial Position Total assets slightly increased by June 30, 2025, driven by current asset growth, while non-current assets decreased, and total equity and liabilities varied Condensed Consolidated Statement of Financial Position (As at June 30, 2025) | Metric | June 30, 2025 (HKD Thousand) | December 31, 2024 (HKD Thousand) | Change | Change Rate | |---|---|---|---|---| | Total Non-current Assets | 307,164 | 388,820 | (81,656) | -21.0% | | Total Current Assets | 675,068 | 588,688 | +86,380 | +14.7% | | Total Assets | 982,232 | 977,508 | +4,724 | +0.5% | | Total Equity | 373,060 | 348,414 | +24,646 | +7.1% | | Total Non-current Liabilities | 83,418 | 182,244 | (98,826) | -54.2% | | Total Current Liabilities | 525,754 | 446,850 | +78,904 | +17.7% | | Total Liabilities | 609,172 | 629,094 | (19,922) | -3.2% | Condensed Consolidated Statement of Changes in Equity Total equity increased to HKD 373,060 thousand by June 30, 2025, driven by profit and disposal gains, partially offset by share repurchases - Profit for the period HKD 47,535 thousand significantly increased equity[8] - Share repurchases resulted in a reduction in share capital and share premium of HKD 69,952 thousand[8] - Disposal of subsidiaries generated a gain of HKD 52,404 thousand[8] Condensed Consolidated Statement of Changes in Equity (For the Six Months Ended June 30, 2025) | Metric | Balance as at January 1, 2025 (HKD Thousand) | Profit/(Loss) for the period (HKD Thousand) | Other comprehensive loss (HKD Thousand) | Share Repurchases (HKD Thousand) | Disposal of Subsidiaries (HKD Thousand) | Balance as at June 30, 2025 (HKD Thousand) | |---|---|---|---|---|---|---| | Total (Equity attributable to owners of the Company) | 317,820 | 47,535 | (186) | (69,952) | 52,404 | 346,746 | | Total Equity | 348,414 | 43,255 | (186) | (69,952) | 52,404 | 373,060 | Notes to the Interim Financial Information This section details the basis of preparation, accounting policies, segment information, revenue, expenses, taxes, discontinued operations, EPS, receivables, payables, financial assets, and related party transactions 1. General Information NET-A-GO TECHNOLOGY LIMITED, incorporated in the Cayman Islands and listed in Hong Kong, primarily engages in media advertising, environmental protection, and trading - The Company is incorporated in the Cayman Islands with its principal place of business in Hong Kong[9] - The Company is listed on the Main Board of The Stock Exchange of Hong Kong Limited[10] - Principal businesses include media advertising and marketing, environmental protection, and trading[10] 2. Basis of Preparation and Significant Accounting Policies The condensed consolidated interim financial information is prepared under HKAS 34 using historical cost, with new IFRS amendments having no material impact - The condensed consolidated interim financial information is prepared in accordance with Hong Kong Accounting Standard 34 'Interim Financial Reporting'[11] - Prepared on a historical cost basis[11] - The adopted amendments to IFRS had no material impact on the Group's financial position and performance for the current and prior periods[12] 2.1 New Accounting Standards and Accounting Changes New IFRS amendments, including IAS 21 and IFRS 21 (Amendments) 'Lack of Exchangeability', were applied with no material impact on financial position or performance - IAS 21 and IFRS 21 (Amendments) 'Lack of Exchangeability' were first applied in this interim period[12] - The application of new accounting standards had no material impact on the Group's financial position and performance for the current and prior periods[12] 3. Segment Information The Group operates three continuing segments: environmental protection, media advertising, and trading, with property leasing and medical device sales classified as discontinued operations - The Group operates three continuing segments: environmental protection business, media advertising and marketing business, and trading business[13][14] - Property leasing business and medical device sales business have been disposed of and classified as discontinued operations[13] 3. (a) Segment Revenue and Results Analysis Segment revenue and results show significant media advertising growth, trading profit from financial assets, declining environmental protection revenue, and substantial discontinued operations profit from disposal - Media advertising and marketing business revenue significantly increased from HKD 3,791 thousand to HKD 128,191 thousand, achieving significant growth[15] - Profit from trading business primarily derived from gains on financial assets at fair value through profit or loss and disposal gains[15] Segment Revenue and Results (For the Six Months Ended June 30) | Segment | 2025 Revenue (HKD Thousand) | 2024 Revenue (HKD Thousand) | 2025 Profit/(Loss) (HKD Thousand) | 2024 Profit/(Loss) (HKD Thousand) | |---|---|---|---|---| | Environmental Protection Business | 36,040 | 81,351 | 2,398 | 8,464 | | Media Advertising and Marketing Business | 128,191 | 3,791 | (10,488) | (14,326) | | Trading Business | 16,466 | 19,286 | 29,238 | 2,161 | | Discontinued Operations | 1,176 | 4,324 | 24,865 | (586) | 3. (b) Segment Assets and Liabilities Segment assets and liabilities analysis shows slight environmental protection asset increase, stable media advertising, decreased trading assets and liabilities, and no assets or liabilities for discontinued operations - Assets and liabilities of discontinued operations were cleared to zero in the current period[17] Segment Assets and Liabilities (As at June 30, 2025) | Segment | Assets as at June 30, 2025 (HKD Thousand) | Assets as at December 31, 2024 (HKD Thousand) | Liabilities as at June 30, 2025 (HKD Thousand) | Liabilities as at December 31, 2024 (HKD Thousand) | |---|---|---|---|---| | Environmental Protection Business | 163,142 | 143,780 | 42,012 | 47,386 | | Media Advertising and Marketing Business | 399,789 | 404,575 | 357,996 | 368,887 | | Trading Business | 82,170 | 136,774 | 8,523 | 6,405 | | Discontinued Operations | – | 70,212 | – | 16,288 | 3. (c) Geographical Information Continuing operations revenue primarily from China showed significant growth, while Hong Kong revenue slightly decreased, and discontinued operations revenue also mainly came from China - Revenue from continuing operations in China nearly doubled year-on-year[18] - No single customer accounted for more than 10% of total revenue in the current period[19] Geographical Segment Revenue (For the Six Months Ended June 30) | Region | 2025 (HKD Thousand) | 2024 (HKD Thousand) | |---|---|---| | Continuing Operations - China | 164,230 | 86,334 | | Continuing Operations - Hong Kong | 16,467 | 18,094 | | Discontinued Operations - China | 1,176 | 4,324 | 4. Revenue Total revenue was approximately HKD 180,697 thousand, a 73.0% year-on-year increase, primarily driven by substantial growth in media advertising and marketing revenue - Advertising revenue from media advertising and marketing business was the primary driver of revenue growth in the current period[20] Revenue Breakdown (For the Six Months Ended June 30) | Business Segment | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change Rate | |---|---|---|---| | Media Advertising and Marketing Business (Advertising revenue) | 128,191 | 3,791 | +3280.0% | | Environmental Protection Business (Service revenue) | 36,040 | 81,351 | -55.7% | | Trading Business (Cosmetics trading) | 16,466 | 19,142 | -14.0% | | Discontinued Operations (Property leasing) | 1,176 | 996 | +18.1% | Contract Assets from Customer Contracts Total contract assets increased to HKD 46,398 thousand by June 30, 2025, mainly due to growth in media advertising and marketing business - Non-current contract assets of HKD 13,706 thousand originated from an eight-year service contract in the environmental protection business, not yet converted to trade receivables[21] Contract Assets (HKD Thousand) | Category | June 30, 2025 | December 31, 2024 | |---|---|---| | Environmental Protection Business | 28,806 | 28,806 | | Media Advertising and Marketing Business | 32,779 | 21,081 | | Total Contract Assets (net of loss allowance) | 46,398 | 34,700 | 5. General and Administrative Expenses General and administrative expenses significantly increased to approximately HKD 27,564 thousand, primarily due to higher staff costs from media advertising and marketing business expansion - Staff salaries and allowances significantly increased, mainly due to the expansion of the media advertising and marketing business[23] General and Administrative Expenses (For the Six Months Ended June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change Rate | |---|---|---|---| | Staff salaries and allowances | 26,250 | 6,554 | +300.5% | | Total | 27,564 | 12,113 | +127.5% | 6. Finance Income – Net Net finance income turned to a net expense of HKD 1,742 thousand, primarily due to a substantial increase in finance costs from shareholder and related party loans - Finance costs primarily include interest expenses on shareholder loans and related party loans, increasing by approximately 249% year-on-year[24] Finance Income – Net (For the Six Months Ended June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | |---|---|---| | Finance income | 2,459 | 2,106 | | Finance costs | (4,201) | (1,204) | | Finance income – net | (1,742) | 902 | 7. Income Tax Expense Income tax expense decreased to HKD 808 thousand, entirely from China corporate income tax, with no Hong Kong profits tax, and mainland China subsidiaries subject to a 25% tax rate - Hong Kong profits tax is provided at a 16.5% rate, and mainland China corporate income tax at a 25% rate[25] Income Tax Expense (For the Six Months Ended June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | |---|---|---| | China corporate income tax | 808 | 2,179 | 8. Discontinued Operations The Group completed the disposal of its property leasing business and previously sold its medical device sales business, both classified as discontinued operations, with the property leasing disposal generating significant gain - The property leasing business disposal was completed on June 30, 2025, for a consideration of approximately HKD 77,525 thousand[26] - The medical device sales business (Youmitai) disposal was completed on August 1, 2024, for a consideration of approximately HKD 24,648 thousand[28] 8. (a) Proposed Disposal of Property Leasing Business The Group disposed of its property leasing business for approximately HKD 77,525 thousand, completed by June 30, 2025, generating a gain of HKD 24,226 thousand - A gain of HKD 24,226 thousand arose from the disposal of the subsidiary[27] Property Leasing Disposal Group Results (For the Six Months Ended June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | |---|---|---| | Revenue | 1,176 | 996 | | Profit after tax from discontinued operations | 639 | 389 | 8. (b) Disposal of Medical Device Sales Business The Group completed the disposal of 90% equity in Shanghai Youmitai Medical Technology Co., Ltd. for approximately HKD 24,648 thousand on August 1, 2024, classified as a discontinued operation Youmitai Results (For the Six Months Ended June 30, 2024) | Metric | 2024 (HKD Thousand) | |---|---| | Revenue | 3,328 | | Loss from discontinued operations for the period | (975) | 9. Dividends The Board does not recommend the payment of an interim dividend for the current period, consistent with the prior period - The Directors do not recommend the payment of an interim dividend for the interim period[30] 10. Earnings/(Loss) Per Share Basic and diluted earnings per share significantly improved to 6.4 HK Cents, compared to a loss of 0.6 HK Cents in the prior period Earnings/(Loss) Per Share (For the Six Months Ended June 30) | Metric | 2025 (HKD Thousand/Thousand Shares/HKD) | 2024 (HKD Thousand/Thousand Shares/HKD) | |---|---|---| | Profit/(Loss) attributable to owners of the Company | 47,535 | (4,811) | | Weighted average number of ordinary shares in issue | 746,341 | 769,817 | | Earnings/(Loss) per share | 0.064 | (0.006) | 10. (a) Basic Basic earnings per share, calculated using profit attributable to owners and weighted average ordinary shares, was HKD 0.064 for the period - Basic earnings per share was HKD 0.064, compared to a loss per share of HKD 0.006 in the prior period[32] 10. (b) Diluted Diluted earnings per share equals basic earnings per share as share options had no dilutive effect on loss per share - Diluted earnings per share for the period equals basic earnings per share as share options had no dilutive effect[33] 11. Trade Receivables Total trade receivables increased by 48.6% to **HKD 209