Financial Performance - For the six months ended June 30, 2025, the Group recorded revenue of approximately HK$16.7 million, a decrease from HK$20.7 million in the same period of 2024, representing a decline of about 19.8%[8] - Profit after taxation for the same period was approximately HK$12.0 million, compared to a loss of HK$13.5 million in the prior year, indicating a significant turnaround[9] - Basic and diluted profit per share for the six months ended June 30, 2025, was approximately HK2.93 cents, recovering from a loss of HK3.30 cents per share in the previous year[9] - Gross profit for the period was approximately HK$5.2 million, compared to a gross loss of HK$2.0 million in the same period of 2024, reflecting improved operational efficiency[9] - Other gains for the period amounted to approximately HK$10.9 million, a significant increase from a loss of HK$0.86 million in the previous year[9] - Total comprehensive profit for the period was approximately HK$9.68 million, recovering from a total comprehensive loss of HK$15.06 million in the same period of 2024[10] - Profit before tax for the six months ended June 30, 2025, was HK$12,006,000, compared to a loss of HK$13,483,000 in the same period of 2024[14] - Operating cash flows before movements in working capital were HK$2,682,000, a significant improvement from a negative HK$7,930,000 in the previous year[14] - Net cash flows generated from operating activities increased to HK$4,189,000, up from HK$1,656,000 in the prior period[14] - Total comprehensive profit for the period was HK$9,680,000, compared to a total comprehensive loss of HK$15,060,000 in the prior period[13] Expenses and Liabilities - The Group's administrative expenses decreased to HK$2.78 million from HK$7.32 million in the previous year, indicating cost control measures were effective[9] - Finance costs were reduced to HK$1.18 million from HK$2.18 million, contributing to the overall profit improvement[9] - Current liabilities decreased to HK$17,018,000 from HK$15,474,000, indicating an increase of about 9.9%[12] - Non-current liabilities decreased to HK$20,897,000 from HK$23,022,000, reflecting a reduction of approximately 9.2%[12] - The Group's other payables and accruals increased to HK$10.8 million as of 30 June 2025, compared to HK$9.6 million as of 31 December 2024[73] Assets and Equity - As of June 30, 2025, total assets decreased to HK$24,088,000 from HK$33,557,000 as of December 31, 2024, representing a decline of approximately 28.3%[11] - The net current assets increased significantly to HK$8,614,000 from HK$232,000, showing a substantial improvement[12] - The total equity as of June 30, 2025, was reported at HK$ (5,519,000), an improvement from HK$ (15,199,000) as of December 31, 2024[12] - The company's cash and cash equivalents decreased to HK$3,149,000 from HK$3,784,000, a decline of about 16.8%[11] - The total segment assets as of June 30, 2025, were HK$30,852,000, down from HK$41,148,000 as of December 31, 2024[40] Segment Performance - For the six months ended June 30, 2025, total revenue from external customers was HK$16,651,000, with the interior design and decoration segment contributing HK$14,584,000[32] - The segment profit for interior design and decoration was HK$1,607,000, while equine services reported a loss of HK$54,000, and advisory on securities, corporate finance, and asset management generated a profit of HK$107,000, resulting in a total segment profit of HK$1,660,000[32] - Revenue from the interior design and decoration segment increased to approximately HK$14.6 million, representing a growth of approximately 39.6% compared to HK$10.5 million in the prior year[87] - Revenue from equine services plummeted to approximately HK$17,000, a decrease of approximately 99.6% from HK$4.6 million in the previous year, due to a downturn in the thoroughbreds market[89] - Revenue from the advising on securities, corporate finance, and asset management segment increased to approximately HK$2 million for the six months ended June 30, 2025, up 37.2% from approximately HK$1.5 million for the same period in 2024[90] Corporate Governance - The Directors confirmed that the information in the report is accurate and complete, ensuring transparency and accountability[5] - The Group does not recommend the payment of an interim dividend for the six months ended June 30, 2025, consistent with 2024[55] - The company complied with all applicable code provisions of the Corporate Governance Code during the reporting period[169] - The board believes that strong corporate governance practices are essential for safeguarding shareholder interests[168] - The management is exploring new strategies for market expansion and product development in response to evolving consumer preferences[147] Share Capital and Ownership - The Group's issued share capital amounted to approximately HK$20.5 million, divided into 409,141,860 shares of HK$0.05 each as of June 30, 2025[123] - Mr. Wong Kwok Wai, Albert, holds a controlled corporation interest of 120,000,000 shares, representing 29.33% of the issued share capital[151] - The company's issued ordinary share capital is HK$20,457,093, divided into 409,141,860 shares with a par value of HK$0.05 each[157] - As of June 30, 2025, no other parties, apart from directors or chief executives, held interests or short positions in the company's shares exceeding 5%[164] Management and Strategy - The management plans to allocate more resources to the interior design segment in the second half of the year due to growing popularity in Hong Kong and the Greater Bay Area[143] - The equine services segment will adopt a prudent approach to maintain lower operation costs while exploring business opportunities in the second half of the year[144] - The management is negotiating new projects in the interior design segment, expecting an increase in turnover during the second half of the year[87] - The company is focusing on enhancing its performance-based compensation structure for directors and senior management, linking bonuses to the group's profitability[146] Audit and Compliance - The Audit Committee consists of three independent non-executive Directors and has reviewed the consolidated results for the six months ended June 30, 2025[191] - The financial information in this announcement has not been audited or reviewed by the auditor of the Company[190] - The Company has confirmed compliance with the required standard of dealings regarding securities transactions by the Directors during the Relevant Period[179]
维港育马(08377) - 2025 - 中期财报