Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 101,621,000, a decrease of 19.2% compared to HKD 125,692,000 for the same period in 2024[7] - Gross profit for the period was HKD 5,668,000, down 49.5% from HKD 11,252,000 in the previous year[7] - Operating loss increased to HKD 8,447,000 from HKD 6,183,000 year-on-year, reflecting a deterioration in operational performance[7] - The net loss for the period was HKD 10,127,000, compared to a net loss of HKD 7,998,000 in the same period last year, representing a 26.6% increase in losses[8] - Basic and diluted loss per share was HKD 1.71, compared to HKD 1.33 for the same period in 2024, indicating a worsening loss per share[8] - The company reported a total comprehensive loss of HKD 9,684,000 for the period, compared to HKD 8,033,000 in the previous year, reflecting a 20.6% increase in comprehensive losses[8] - The company recorded a pre-tax loss of HKD 10,127,000 for the six months ended June 30, 2025, compared to a loss of HKD 8,259,000 for the same period in 2024[27] - Loss attributable to owners increased by HKD 2.2 million to HKD 10.2 million, primarily due to reduced revenue and gross profit from air and sea freight agency services and logistics[69] Assets and Liabilities - Non-current assets decreased to HKD 42,732,000 as of June 30, 2025, from HKD 56,594,000 at the end of 2024, a decline of 24.5%[10] - Current assets also decreased to HKD 68,442,000 from HKD 85,451,000, reflecting a reduction of 20%[10] - Total liabilities decreased to HKD 59,291,000 from HKD 78,841,000, a reduction of 24.8%[11] - Net assets decreased to HKD 18,698,000 from HKD 33,185,000, indicating a decline of 43.8%[11] - The total equity attributable to owners decreased to HKD 32,678,000 as of June 30, 2025, from HKD 42,475,000 at the beginning of the year, primarily due to accumulated losses[13] - The company’s accumulated losses reached HKD (43,756,000) as of June 30, 2025, reflecting ongoing financial challenges[13] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2025, was HKD 14,686,000, an increase of 40.0% compared to HKD 10,468,000 in the same period of 2024[15] - The net cash used in investing activities for the same period was HKD (526,000), a decrease from HKD (1,779,000) in 2024, indicating improved investment efficiency[15] - The net cash used in financing activities increased to HKD (14,377,000) from HKD (9,895,000) in 2024, reflecting higher financing costs or activities[15] - Cash and cash equivalents increased to HKD 13,471,000 as of June 30, 2025, up from HKD 10,458,000 at the same time last year, indicating improved liquidity[15] - The company’s cash and cash equivalents at the beginning of the year were HKD 13,245,000, showing a positive cash flow trend over the period[15] Revenue Breakdown - The air freight segment generated external sales of HKD 34,031,000 in 2025, up from HKD 43,979,000 in 2024, a decline of about 22.5%[27] - The logistics and warehousing segment reported external sales of HKD 38,938,000 in 2025, compared to HKD 42,771,000 in 2024, reflecting a decrease of approximately 9.1%[27] - Air freight service revenue decreased from HKD 44.0 million to HKD 34.0 million, a drop of HKD 10.0 million, attributed to local strikes in Dhaka affecting air freight tonnage[58] - Sea freight service revenue declined from HKD 14.7 million to HKD 11.6 million, a decrease of HKD 3.1 million, due to a slight drop in consolidated shipping volumes[58] - Logistics and warehousing service revenue decreased from HKD 42.8 million to HKD 38.9 million, reflecting no significant changes compared to the previous period[58] - E-commerce revenue fell from HKD 24.3 million to HKD 17.0 million, a decrease of HKD 7.3 million, due to additional tariffs imposed by the U.S. on all imports from China[58] Shareholder Information - As of June 30, 2025, the company has 600,000,000 shares issued, with Mr. Lo Wai Wah holding 2,150,000 shares, representing approximately 0.36% of the total shares[90] - Major shareholder Million Venture Holdings Limited owns 170,300,000 shares, accounting for 28.38% of the total shares[96] - Ms. Tai Choi Wan, Noel holds 156,154,000 shares through spouse rights, representing 26.03% of the total shares[96] - Pacific Crouch Limited, another major shareholder, possesses 152,994,000 shares, which is 25.50% of the total shares[96] - Mr. Cheng Han Yat holds 3,160,000 shares, representing approximately 0.53% of the total shares[96] - The company has not purchased, redeemed, or sold any shares during the reporting period[87] Corporate Governance - The audit committee has reviewed the unaudited condensed consolidated financial statements and believes they comply with applicable accounting standards and GEM listing rules[115] - The company has adopted the corporate governance code as per GEM listing rules and believes it has complied with the code provisions during the reporting period[111] - There are no significant events to disclose after the reporting period up to the date of this mid-term report[112] - The mid-term report will be available on the company's website and the Hong Kong Stock Exchange website for at least seven days from the publication date[116]
骏高控股(08035) - 2025 - 中期财报