Financial Performance - For the six months ended June 30, 2025, the company reported revenue of HKD 18,984,000, a decrease of 0.6% compared to HKD 19,099,000 for the same period in 2024[3] - The gross profit for the same period was HKD 5,551,000, down 21% from HKD 7,027,000 in 2024[3] - The operating loss for the six months was HKD 16,220,000, compared to an operating profit of HKD 7,710,000 in the previous year[3] - The company reported a loss before tax of HKD 27,457,000, significantly higher than the loss of HKD 6,470,000 in 2024[3] - The total comprehensive loss for the period was HKD 35,847,000, compared to HKD 9,321,000 in the same period last year[3] - The basic loss per share was HKD 7.56, compared to HKD 2.78 in the previous year[5] - The group recorded a total loss before tax of HKD 27,457,000 for the six months ended June 30, 2025, compared to a profit of HKD 642,000 in the same period of 2024[16] - The loss attributable to shareholders increased to approximately HKD 27,457,000, compared to HKD 6,470,000 for the same period in 2024, driven by exchange losses from RMB appreciation and increased management costs in the new energy management segment[38] Revenue Breakdown - The wastewater treatment segment generated revenue of HKD 17,848,000, down from HKD 19,099,000, with a loss of HKD 4,024,000 compared to a loss of HKD 3,113,000 in the previous year[15] - The energy management segment reported revenue of HKD 1,136,000, with a loss of HKD 5,089,000, while the healthcare segment incurred a loss of HKD 5,646,000[15] - The group achieved over HKD 1,100,000 in energy management revenue during the first half of 2025, indicating a positive trend in business development[41] Assets and Liabilities - Non-current assets as of June 30, 2025, totaled HKD 2,565,000, a slight decrease from HKD 2,685,000 at the end of 2024[6] - Current assets decreased to HKD 29,359,000 from HKD 34,542,000 in December 2024[6] - Current liabilities increased to HKD 477,526,000 from HKD 451,256,000 at the end of 2024[6] - The total assets of the group were approximately HKD 31,924,000 as of June 30, 2025, down from HKD 37,227,000 as of December 31, 2024[43] - The group's total debt amounted to approximately HKD 165,142,000 as of June 30, 2025, compared to HKD 161,666,000 as of December 31, 2024[44] - The leverage ratio (total debt to total assets) increased to 517.30% as of June 30, 2025, compared to 434.27% as of December 31, 2024[43] Share Capital and Options - The company has a total of 342,698,000 ordinary shares issued and fully paid as of December 31, 2024, with a par value of HKD 0.50 per share[35] - The company has a share option plan in place, effective from September 10, 2010, which is designed to reward eligible participants, including directors and employees[36] - As of June 30, 2025, there are 10,808,000 share options that remain unexercised under the share option plan[37] - The total number of unexercised share options as of June 30, 2025, is 10,808,000, with no options exercised or lapsed during the reporting period[54] Corporate Governance - The company has complied with the corporate governance code as per the listing rules during the six months ending June 30, 2025[60] - The board is responsible for maintaining adequate internal control systems to safeguard shareholder investments and company assets[61] - An internal audit department was established in 2019 to report on any discrepancies and risk management measures to the audit committee[62] - The audit committee consists of three independent non-executive directors who reviewed the accounting principles and practices adopted by the group[64] Future Outlook - The company is optimistic about business development in the second half of the year, focusing on core competitiveness and opportunities in equipment renewal and new power system construction[42] - The group has completed key projects in major cities such as Shanghai and Shenzhen, and has initiated the construction of its first fully buried new-type wastewater treatment facility[40]
中国环保科技(00646) - 2025 - 中期业绩