Financial Performance - For the six months ended June 30, 2025, the company reported revenue of HKD 40,829,000, a decrease of 13.4% compared to HKD 47,210,000 in the same period of 2024[8] - Gross profit for the same period was HKD 22,183,000, down 9.7% from HKD 24,561,000 year-on-year[8] - The company incurred an operating loss of HKD 5,039,000, compared to an operating profit of HKD 2,284,000 in the prior year[8] - The net loss attributable to equity holders for the period was HKD 5,198,000, compared to a profit of HKD 2,105,000 in the same period last year[8] - Basic and diluted loss per share was HKD 1.627 cents, compared to earnings of HKD 0.659 cents per share in the previous year[8] - Revenue for the interim period was HKD 40.9 million, a decrease of 14% compared to HKD 47.2 million in the same period last year[44] - The company reported a basic loss per share of HKD 0.0162 for the six months ended June 30, 2025, compared to a profit of HKD 0.0066 in the same period of 2024[29] Assets and Liabilities - Total assets decreased to HKD 63,484,000 from HKD 76,925,000 as of December 31, 2024, reflecting a decline of 17.6%[11] - Current liabilities decreased to HKD 20,509,000 from HKD 29,066,000, a reduction of 29.5%[11] - The company reported cash and cash equivalents of HKD 13,244,000, down from HKD 25,712,000, indicating a decrease of 48.5%[11] - As of June 30, 2025, the net asset value of the group was HKD 57.1 million, down from HKD 61.8 million as of December 31, 2024, due to a net loss of HKD 5.2 million during the interim period[47] - Total liabilities decreased to HKD 16.750 million from HKD 25.063 million[36] Cash Flow - For the six months ended June 30, 2025, the net cash used in operating activities was HKD (8,698,000), a decrease from HKD 6,116,000 in the same period of 2024[15] - Total cash and cash equivalents decreased by HKD 12,566,000, compared to an increase of HKD 2,792,000 in the prior year[15] - The company reported a net cash outflow from operating activities of HKD 8.7 million for the interim period, compared to a net cash inflow of HKD 6.1 million in 2024, attributed to market expansion and product diversification efforts[52] - The net cash used in investing activities was HKD (1,656,000), an increase from HKD (904,000) in the previous year[15] Operational Highlights - The company plans to focus on enhancing its research and development efforts to drive future growth and innovation[7] - The company faced challenges due to U.S. tariffs and ongoing trade conflicts, impacting sales and revenue growth[44] - The company launched several new products in the first half of 2025, including the ACR1555U Secure Bluetooth NFC reader and the second-generation WalletMate mobile wallet NFC reader, receiving positive customer feedback[49] - The company plans to focus on the Americas and Southeast Asia markets to maintain growth momentum amid global challenges such as the ongoing Russia-Ukraine conflict and trade tensions between the US and China[50] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, with a noted deviation regarding the roles of the chairman and CEO being held by the same individual[70] - All directors confirmed compliance with the trading rules regarding securities transactions during the interim period[71] - The audit committee is responsible for recommending the appointment, reappointment, and dismissal of external auditors to the board[72] - The audit committee has reviewed the unaudited consolidated performance for the six months ending June 30, 2025[72] - The audit committee consists of four members, including Dr. Lian Da Peng as the chairman[72] Employee and Cost Management - The company has 97 full-time employees, with employee costs amounting to HKD 16.9 million during the interim period[59] - The company is committed to controlling costs and improving efficiency to support long-term profitability[51] - Operating expenses increased by 22% to HKD 27.7 million from HKD 22.7 million in the previous year, primarily due to increased staffing and market expansion efforts[46] Shareholder Information - As of June 30, 2025, Mr. Mak Chiu Ping (deceased) and Mr. Cheung Hok Kwan hold 239,215,679 shares, representing 74.85% of the issued share capital[62] - Leadway Development Limited owns 238,889,669 shares, accounting for 74.75% of the issued share capital[66] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the interim period[68] Other Income and Expenses - The company recognized other comprehensive income of HKD 491,000 from foreign currency translation adjustments during the period[9] - The company received a government subsidy of HKD 49,000 aimed at helping SMEs expand into markets outside Hong Kong[24] - The company did not recognize any income tax expense due to tax losses for the six months ended June 30, 2025[26] - The company incurred finance costs of HKD 159,000 for lease liabilities, slightly down from HKD 179,000 in the prior year[23] - The fair value of treasury bonds held outside Hong Kong was approximately HKD 98,000, up from HKD 93,000 at the end of the previous year[40]
高维科技(02086) - 2025 - 中期财报