Financial Performance - For the six months ended June 30, 2025, the company reported revenue of HKD 76,846,000, a decrease of 29.5% compared to HKD 108,966,000 for the same period in 2024[7] - The gross profit for the same period was HKD 10,555,000, down 59.6% from HKD 26,105,000 in 2024[7] - The company recorded a net loss of HKD 30,461,000 for the six months ended June 30, 2025, compared to a profit of HKD 2,162,000 in the previous year[7] - The company reported a basic loss per share of HKD 4.32 for the six months ended June 30, 2025, compared to earnings of HKD 0.31 per share in 2024[9] - The company experienced a foreign exchange gain of HKD 8,166,000 for the period, contrasting with a loss of HKD 6,828,000 in the previous year[9] - The company experienced a net loss of HKD 30,461,000 for the six months ended June 30, 2025, compared to a profit of HKD 2,162,000 in the same period of 2024[23] - The group recorded a net loss of approximately HKD 30.5 million for the period, compared to a profit of HKD 2.2 million in the first half of 2024[53] Assets and Liabilities - The total assets as of June 30, 2025, were HKD 187,995,000, a slight decrease from HKD 191,030,000 as of December 31, 2024[10] - The company's cash and cash equivalents decreased to HKD 7,894,000 from HKD 19,689,000 at the end of 2024, indicating a liquidity challenge[10] - The company's intangible assets decreased to HKD 85,643,000 from HKD 99,150,000, reflecting a decline of 13.6%[10] - The total liabilities increased to HKD 158,583,000 as of June 30, 2025, compared to HKD 152,229,000 at the end of 2024[10] - The company's total equity as of June 30, 2025, was HKD 147,608,000, a decrease from HKD 220,938,000 as of January 1, 2024[13] - The company's trade payables increased to HKD 12.529 million as of June 30, 2025, compared to HKD 5.979 million as of December 31, 2024[40] - The company recorded a bank overdraft of approximately HKD 17.918 million as of June 30, 2025, compared to none as of December 31, 2024[44] - The group’s net current assets were approximately HKD 29.4 million as of June 30, 2025, down from approximately HKD 38.8 million as of December 31, 2024[57] - The group’s current ratio was approximately 1.2 as of June 30, 2025, compared to approximately 1.3 as of December 31, 2024[57] Revenue Breakdown - Revenue from key products showed a significant decline, with bonding wires generating HKD 48,551,000 (down 16.7%) and packaging adhesives at HKD 24,870,000 (down 46.8%) compared to the previous year[20] - Revenue from customers in mainland China was HKD 76,145,000, down 26.0% from HKD 102,823,000 in 2024[22] - Bond wire product revenue decreased by 16.7% to approximately HKD 48.6 million, while packaging glue product revenue significantly dropped by 46.9% to approximately HKD 24.9 million[48] Impairment and Expenses - The company recorded an impairment loss of approximately HKD 18,816,000 related to intangible assets for the six months ended June 30, 2025, whereas no impairment loss was reported for the same period in 2024[24] - The financing costs for the six months ended June 30, 2025, totaled HKD 2,955,000, a decrease from HKD 3,026,000 in the same period of 2024[28] - The income tax expense for the six months ended June 30, 2025, was HKD 884,000, compared to HKD 2,675,000 for the same period in 2024[29] - The total employee costs for the six months ended June 30, 2025, were HKD 17,996,000, a slight decrease from HKD 18,407,000 in the same period of 2024[31] - Sales and distribution expenses were approximately HKD 4.2 million, a decrease from approximately HKD 5.6 million in the first half of 2024, primarily due to reduced sales commissions[52] Corporate Governance - The company has established an audit committee composed of three independent non-executive directors to oversee financial reporting and internal control processes[92] - The audit committee has reviewed the unaudited condensed consolidated results for the period and confirmed compliance with applicable accounting standards and GEM listing rules[94] - The company has implemented remedial measures to enhance financial reporting procedures to comply with corporate governance codes[87] - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules throughout the period[90] - The company will continue to improve its corporate governance practices to align with statutory requirements and recent developments[89] Future Outlook and Strategy - The company plans to focus on improving operational efficiency and exploring new market opportunities to enhance future performance[6] - The company aims to focus on innovation in semiconductor packaging materials and accelerate domestic substitution to seize opportunities from the anticipated market recovery[47] - The group aims to enhance R&D investment to address global economic uncertainties and develop advanced, cost-effective products[54] - The group will continue to focus on the "domestic substitution" core strategy and expand its market share in automotive-grade packaging and AI chip materials[55] Shareholder Information - The company’s issued share capital was HKD 7,055,000, divided into 705,500,000 shares with a par value of HKD 0.01 each[81] - BVI Holdings and BVI Chows each hold 50.60% of the company's shares, totaling 357,000,000 shares[79] - Dr. Chow and Professor Chow each indirectly own 40% and 60% of BVI Chows, respectively[77] - Mr. Ma holds 21.61% of the company's shares, totaling 152,490,000 shares[79] - The board did not recommend the payment of an interim dividend for the period[65] Miscellaneous - There were no significant events after the reporting period up to the date of this report[68] - The company has not disclosed any new product developments or market expansion strategies in the report[70] - The company has not granted, exercised, canceled, or expired any stock options under the plan since its adoption, resulting in zero potential shares issued based on stock options during the period[85] - The stock option plan allows for a maximum of 68,000,000 shares to be issued, representing 10% of the total issued shares at the time of the plan's adoption[82] - The stock options must be accepted within 30 days of the grant date, with a nominal acceptance fee of HKD 1[83] - The company has no major shareholders or other individuals with disclosed interests in the company's shares, apart from those mentioned[80] - As of June 30, 2025, there were no significant contingent liabilities or guarantees[66] - As of June 30, 2025, the company had no significant encumbrances on its assets[64]
骏码半导体(08490) - 2025 - 中期业绩