Financial Performance - For the six months ended June 30, 2025, the Group recorded revenue of approximately HK$96.6 million, a decrease of approximately 30.3% compared to HK$138.5 million for the same period in 2024[18]. - Gross profit for the same period was HK$25.7 million, down from HK$47.8 million in 2024, reflecting a significant decline in profitability[13]. - Profit before tax increased to HK$12.1 million, compared to HK$3.9 million in the previous year, indicating improved operational efficiency despite lower revenue[13]. - Net profit attributable to owners of the parent decreased by approximately 17.2% to HK$2.4 million, down from HK$2.9 million in the prior period[18]. - The total revenue of the Group decreased by approximately 30.3% from approximately HK$138.5 million for the six months ended June 30, 2024, to approximately HK$96.6 million for the six months ended June 30, 2025[36]. - The Group's gross profit decreased from approximately HK$47.8 million for the six months ended 30 June 2024 to approximately HK$25.7 million for the six months ended 30 June 2025, with a gross profit margin decline of approximately 7.9% from 34.5% to 26.6%[42][46]. - The Group reported net current assets of approximately HK$301.0 million as of 30 June 2025, down from HK$306.5 million as of 31 December 2024[60][65]. - Cash and cash equivalents decreased by approximately HK$46.6 million to HK$205.9 million as of 30 June 2025, primarily denominated in US dollars[61][66]. - The company reported a total comprehensive income of HK$2,376,000 for the period, slightly up from HK$2,296,000 in the previous year[133]. - The total reserves attributable to owners of the parent decreased to HK$313,729,000 as of June 30, 2025, from HK$342,332,000 at the end of 2024[136]. Revenue Breakdown - Revenue from thermal imaging products and services decreased by approximately 16.0% to HK$24.2 million, accounting for 25.1% of the Group's total revenue[21]. - Revenue from self-stabilised imaging products and services decreased by approximately HK$35.4 million, or 90.8%, from approximately HK$39.0 million to approximately HK$3.6 million[37]. - Revenue from general aviation products and services remained relatively stable at approximately HK$69.3 million and HK$68.8 million for the six months ended June 30, 2024, and 2025, respectively[38]. - Revenue from thermal imaging products and services was HK$24,116,000, down from HK$28,718,000, representing a decline of 16.5%[165]. - Revenue from self-stabilised imaging products and services dropped significantly to HK$3,616,000 from HK$39,026,000, a decrease of 90.7%[165]. - Revenue from general aviation products and services remained relatively stable at HK$68,868,000, compared to HK$69,305,000, a slight decrease of 0.6%[165]. - Revenue from Mainland China was HK$83,227,000, down 9.2% from HK$91,632,000 in 2024[157]. - Revenue from Hong Kong and Macau fell sharply to HK$11,913,000 from HK$44,269,000, a decrease of 73.1%[157]. Cost and Expenses - Selling and distribution expenses decreased by approximately HK$1.4 million, or 7.8%, from HK$17.9 million to HK$16.5 million, primarily due to reduced staff costs[51][55]. - The cost of inventories sold decreased to HK$65,961,000, down 21.5% from HK$83,948,000 in 2024[171]. - Research and development costs were HK$6,239,000, a reduction of 17.2% compared to HK$7,537,000 in 2024[171]. - Employee benefit expenses totaled HK$26,256,000, down 13.5% from HK$30,468,000 in 2024[171]. Taxation and Dividends - The Group's income tax expense increased by approximately HK$8.7 million, or 870.0%, from HK$1.0 million to HK$9.7 million, with effective tax rates rising from 25.5% to 80.0%[58][63]. - An interim dividend of HK5.40 cents per ordinary share was declared, totaling approximately HK$21,600,000, compared to no dividend in 2024[177]. Assets and Liabilities - Total assets as of June 30, 2025, were HK$395.4 million, slightly down from HK$398.7 million as of December 31, 2024[16]. - Total liabilities decreased to HK$71.1 million from HK$81.7 million, indicating improved financial stability[16]. - Total current assets as of June 30, 2025, were HK$378,498,000, an increase from HK$371,528,000 at the end of 2024[134]. - Total non-current assets decreased to HK$16,929,000 from HK$27,130,000 at the end of 2024, reflecting a decline of 37.7%[134]. Market and Economic Conditions - The Group's performance was impacted by external macroeconomic factors, including high U.S. interest rates and inflation driven by trade tariffs[18]. - The global economic growth is forecast to slow to 2.3% for 2025, revised down by 0.4% from earlier forecasts, posing risks to the Group's performance[30]. - The Group remains cautiously optimistic about the future and aims to consolidate its market leadership despite ongoing market volatility[31]. Shareholding and Corporate Governance - As of June 30, 2025, Peiport Alpha Ltd. holds 300,000,000 shares, representing a 75% ownership stake in the company[105]. - The total number of shares issued by the company is 400,000,000 as of June 30, 2025[105]. - The Company complied with all applicable code provisions of the Corporate Governance Code throughout the six months ended June 30, 2025[88]. - The Share Option Scheme is established to recognize contributions from Eligible Participants and aims to motivate them to optimize performance for the benefit of the Group[123].
彼岸控股(02885) - 2025 - 中期财报