Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 65,702,000, an increase of 4.3% compared to HKD 62,615,000 for the same period in 2024[7] - Gross profit for the same period was HKD 19,886,000, significantly up from HKD 9,025,000, reflecting a gross margin improvement[7] - The net loss for the six months ended June 30, 2025, was HKD 2,323,000, a substantial decrease from a net loss of HKD 21,046,000 in the prior year[7] - Other comprehensive income for the period was HKD 4,112,000, compared to a loss of HKD 2,643,000 in the same period last year[9] - The total comprehensive loss for the six months ended June 30, 2025, was HKD 2,323,000, compared to a total comprehensive loss of HKD 21,046,000 for the same period in 2024, showing a significant reduction in losses[12] - The company reported a loss of HKD 2,295,000 for the six months ended June 30, 2025, compared to a loss of HKD 20,987,000 for the same period in 2024, indicating a reduction in losses by approximately 89%[12] Assets and Liabilities - Total assets as of June 30, 2025, were HKD 330,921,000, down from HKD 350,878,000 at the end of 2024[10] - Total equity as of June 30, 2025, was HKD 199,395,000, slightly up from HKD 197,606,000 at the end of 2024[11] - As of June 30, 2025, the total equity attributable to the company's owners decreased to HKD 206,273,000, down from HKD 321,787,000 as of January 1, 2024, reflecting a decline of approximately 36%[12] - The total liabilities of the group as of June 30, 2025, were HKD 131,526,000, compared to HKD 153,272,000 as of December 31, 2024, showing a reduction in liabilities[32][33] Cash Flow - The company’s cash and cash equivalents decreased to HKD 15,139,000 from HKD 25,826,000, reflecting cash flow challenges[10] - The net cash used in operating activities for the six months ended June 30, 2025, was HKD 1,446,000, an improvement from HKD 1,865,000 for the same period in 2024[14] - The net cash generated from investing activities for the six months ended June 30, 2025, was HKD 1,062,000, compared to HKD 7,510,000 in the previous year, indicating a significant decrease of approximately 86%[15] - The net cash used in financing activities increased to HKD 11,111,000 for the six months ended June 30, 2025, compared to HKD 6,651,000 in the same period of 2024, representing an increase of approximately 67%[15] Revenue Breakdown - For the six months ended June 30, 2025, the revenue from cigarette packaging business was HKD 60,298,000, an increase of 3.2% from HKD 58,445,000 in the same period of 2024[34] - The environmental management business generated revenue of HKD 5,404,000 for the six months ended June 30, 2025, compared to HKD 4,069,000 in the same period of 2024, reflecting a growth of 30.7%[34] - The total revenue for the group for the six months ended June 30, 2025, was HKD 65,702,000, up from HKD 62,615,000 in the same period of 2024, representing a year-on-year increase of 4.3%[34] Expenses - The cost of goods sold for the six months ended June 30, 2025, was HKD 34,350,000, slightly down from HKD 35,078,000 in the same period last year, a decrease of 2.07%[38] - Total sales, distribution, and administrative expenses for the six months ended June 30, 2025, were HKD 62,011,000, down from HKD 72,064,000, representing a decrease of 13.93%[38] - The company’s administrative expenses decreased by 13.6% or approximately HKD 2,480,000, totaling about HKD 15,720,000 compared to HKD 18,200,000 in the previous fiscal period[76] Shareholder Information - As of June 30, 2025, Mr. Zheng Yisheng holds 450,000,000 shares, representing 64.15% of the company's issued share capital[107][108] - Major shareholder SXD Limited, fully owned by Mr. Zheng Yisheng, also holds 450,000,000 shares, accounting for 64.15% of the issued share capital[109][110] Corporate Governance - The board of directors held only one regular meeting during the reporting period to review and discuss the company's annual performance[99] - The audit committee has reviewed the interim report for the reporting period[111] - The company has confirmed compliance with the standard code of conduct throughout the reporting period[101] Employee Information - As of June 30, 2025, the company employed a total of 250 full-time employees in China and Hong Kong, a decrease from 258 employees as of December 31, 2024[97] - Total employee compensation during the reporting period was HKD 15,370,000, down from HKD 15,680,000 in the previous fiscal period[97] Future Plans - The company plans to focus on market expansion and new product development in the upcoming quarters[7] - The company aims to diversify its revenue sources and create more value for shareholders through a multi-faceted development strategy[96] - The cigarette packaging business remains the core business of the company, with plans to strengthen relationships with existing customers and seek new clients to expand market share[96]
华禧控股(01689) - 2025 - 中期财报