意力国际(00585) - 2025 - 中期业绩

Interim Results for the Six Months Ended 30 June 2025 Unaudited Financial Information Unaudited consolidated financial statements for H1 2025 are presented, offering a concise financial overview Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income The company achieved a net profit in H1 2025, reversing a prior-year loss, despite a significant decrease in total revenue Key Income Statement Metrics | Metric | June 30, 2025 (HKD thousand) | June 30, 2024 (HKD thousand) | Change (HKD thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | | | | | | Brokerage-related commissions and clearing fees | 656 | 445 | 211 | 47.42% | | Asset management fees | 250 | 1,086 | (836) | -76.98% | | Interest from margin clients | 3,993 | 17,173 | (13,180) | -76.75% | | Interest on loans receivable | 4,106 | 3,126 | 980 | 31.35% | | Net realized gain/(loss) on disposal of investments held for trading | (30) | 4,238 | (4,268) | -100.71% | | Net realized gain/(loss) on trading of futures contracts | 203 | – | 203 | N/A | | Dividends from investments held for trading | 783 | – | 783 | N/A | | Film distribution license rights | 219 | 400 | (181) | -45.25% | | Entertainment event income | – | 169 | (169) | -100.00% | | Total Revenue | 10,180 | 26,637 | (16,457) | -61.78% | | Operating profit/(loss) | 4,601 | (11,096) | 15,697 | N/A | | Profit/(loss) before tax | 4,428 | (11,276) | 15,704 | N/A | | Profit/(loss) for the period | 4,428 | (11,276) | 15,704 | N/A | | Profit/(loss) attributable to owners of the Company | 5,375 | (11,459) | 16,834 | N/A | | Basic and diluted earnings/(loss) per share (HK cents) | 0.65 | (1.38) | 2.03 | N/A | - The company achieved a turnaround to profit, primarily due to a reversal of impairment provisions for margin loans and loans receivable of approximately HKD 7,100 thousand (compared to an impairment loss of HKD 13,200 thousand in the prior year), and a shift from a HKD 4,900 thousand loss to a HKD 5,700 thousand gain from fair value changes in listed investments held for trading[72] Condensed Consolidated Statement of Financial Position Total assets increased to HKD 890,420 thousand by June 30, 2025, driven by FVOCI investments and rising current liabilities Key Financial Position Metrics | Metric | June 30, 2025 (HKD thousand) | December 31, 2024 (HKD thousand) | Change (HKD thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Non-Current Assets | | | | | | Property, Plant and Equipment | 7,368 | 6,738 | 630 | 9.35% | | Equity Instrument Investments (FVOCI) | 411,978 | 295,751 | 116,227 | 39.30% | | Current Assets | | | | | | Receivables from Clearing Houses | 57,812 | 73 | 57,739 | 79094.52% | | Margin Loans Receivable | 162,021 | 193,106 | (31,085) | -16.10% | | Loans Receivable | 125,479 | 143,172 | (17,693) | -12.36% | | Investments Held for Trading | 23,119 | 13,396 | 9,723 | 72.58% | | Bank Balances and Cash | 60,306 | 22,301 | 38,005 | 170.42% | | Current Liabilities | | | | | | Trade Payables | 80,492 | 10,380 | 70,112 | 675.45% | | Other Payables and Accrued Expenses | 12,434 | 2,837 | 9,597 | 338.28% | | Net Assets | 792,414 | 687,474 | 104,940 | 15.26% | Notes to the Condensed Consolidated Financial Statements Detailed notes to the condensed consolidated financial statements cover preparation, policies, and financial changes 1. Basis of Preparation Condensed consolidated financial statements are prepared under HK Listing Rules Appendix D2 and HKAS 34 - The financial statements are prepared in accordance with Appendix D2 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Hong Kong Accounting Standard 34 'Interim Financial Reporting' issued by the Hong Kong Institute of Certified Public Accountants, and have been reviewed by Crowe (HK) CPA Limited[10] 2. Significant Accounting Policies Current period condensed consolidated financial statements follow 2024 annual accounting policies - Accounting policies are consistent with those presented in the 2024 annual consolidated financial statements, except for changes expected to be reflected in the 2025 annual financial statements[11] 3. Changes in Accounting Policies HKAS 21 (Revised) 'Lack of Exchangeability' applied from Jan 1, 2025, with no significant impact - Hong Kong Accounting Standard 21 (Revised) 'Lack of Exchangeability' was applied, effective January 1, 2025, but had no significant impact on the financial position and performance for the current and prior periods[12] 4. Revenue Total revenue for H1 2025 significantly decreased, driven by lower margin interest and asset management fees Revenue Breakdown | Revenue Source | June 30, 2025 (HKD thousand) | June 30, 2024 (HKD thousand) | Change (HKD thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Brokerage-related commissions and clearing fees | 656 | 445 | 211 | 47.42% | | Asset management fees | 250 | 1,086 | (836) | -76.98% | | Interest from margin clients | 3,993 | 17,173 | (13,180) | -76.75% | | Interest on loans receivable | 4,106 | 3,126 | 980 | 31.35% | | Net realized gain/(loss) on disposal of investments held for trading | (30) | 4,238 | (4,268) | -100.71% | | Net realized gain/(loss) on trading of futures contracts | 203 | – | 203 | N/A | | Dividends from investments held for trading | 783 | – | 783 | N/A | | Film distribution license rights | 219 | 400 | (181) | -45.25% | | Entertainment event income | – | 169 | (169) | -100.00% | | Total Revenue | 10,180 | 26,637 | (16,457) | -61.78% | - Brokerage-related commission income, clearing fee income, and film distribution license rights income fall under Hong Kong Financial Reporting Standard 15, while interest income, dividend income, investment disposals, futures contract trading, and entertainment event income are from other sources[13] 5. Segment Reporting The Group manages business across four segments; most were profitable in H1 2025, while entertainment recorded a loss - The Group's operating segments include securities brokerage and asset management, providing financing, securities trading, and entertainment, with key operating decision-makers regularly reviewing each segment's revenue and performance[14][16] Segment Performance Overview | Segment | June 30, 2025 Segment Revenue (HKD thousand) | June 30, 2024 Segment Revenue (HKD thousand) | June 30, 2025 Segment Results (