Financial Performance - The Group reported unaudited revenue from continuing operations of approximately HKD 160,976,000 for the six months ended June 30, 2025, a decrease of approximately HKD 55,983,000 compared to HKD 216,959,000 for the same period in 2024[8]. - The unaudited loss from continuing and discontinued operations for the six months ended June 30, 2025, was approximately HKD 17,901,000, an increase of approximately HKD 13,561,000 compared to a loss of HKD 4,340,000 for the same period in 2024[8]. - The unaudited basic and diluted loss per share from continuing operations for the six months ended June 30, 2025, was HKD 3.27, compared to HKD 0.88 for the same period in 2024[8]. - The company reported a net cash outflow from investing activities of HKD 29,097,000 for the six months ended June 30, 2025, compared to HKD 11,459,000 in the previous year, indicating a significant increase in investment expenditures[15]. - The company’s net loss for the period was HKD 17,901,000 for the six months ended June 30, 2025, compared to a loss of HKD 4,340,000 for the same period in 2024, indicating a worsening financial performance[14]. Revenue Breakdown - For the six months ended June 30, 2025, total revenue from external customers was HKD 160,976,000, a decrease of 25.9% compared to HKD 216,959,000 for the same period in 2024[22][26]. - Revenue from system integration services decreased by 54.5% to HKD 59,635,000 from HKD 131,262,000 year-over-year[27][29]. - Revenue from maintenance services increased by 20.8% to HKD 99,101,000 from HKD 82,040,000 year-over-year[27][29]. - The geographical revenue breakdown shows that revenue from South Korea was HKD 158,736,000, down from HKD 213,302,000, while revenue from Hong Kong was HKD 2,240,000, down from HKD 3,657,000[26]. - The public sector contributed revenue of HKD 129.4 million, a slight decrease of 0.2%, while the private sector revenue fell by HKD 55.8 million or 63.8% to HKD 31.6 million[68]. Expenses and Costs - Gross profit for the six months ended June 30, 2025, was HKD 10,128,000, down from HKD 22,609,000 for the same period in 2024[10]. - The company incurred total expenses of HKD 28,082,000, leading to a net loss of HKD 17,904,000 for the period[22]. - Employee costs for the six months ended June 30, 2025, were HKD 41,930,000, slightly down from HKD 42,036,000 in 2024[32]. - Sales and administrative expenses decreased by approximately HKD 4.2 million or 13.9% to HKD 26.1 million, mainly due to the absence of share-based payments during the period[66]. - The cost of inventory recognized as an expense (included in cost of sales) decreased to HKD 108,989,000 in 2025 from HKD 118,885,000 in 2024, indicating a reduction of approximately 8.0%[32]. Assets and Liabilities - Non-current assets increased to HKD 53,447,000 as of June 30, 2025, compared to HKD 52,016,000 as of December 31, 2024, reflecting a growth of 2.7%[12]. - Current assets decreased to HKD 164,673,000 as of June 30, 2025, from HKD 168,813,000 as of December 31, 2024, indicating a decline of 2.5%[12]. - Total liabilities decreased to HKD 61,208,000 as of June 30, 2025, from HKD 62,446,000 as of December 31, 2024, a reduction of 2.0%[13]. - Total equity decreased to HKD 145,719,000 as of June 30, 2025, from HKD 151,372,000 as of December 31, 2024, a decline of 3.8%[13]. - Trade receivables as of June 30, 2025, amounted to HKD 49,651,000, down from HKD 57,973,000 in December 2024, reflecting a decrease of about 14.0%[39]. Convertible Notes and Share Options - The company issued convertible notes with a principal amount of HKD 2,000,000 at an interest rate of 8%, maturing on June 17, 2025[43]. - The company issued convertible notes with a principal amount of HKD 2,000,000, convertible into 4,000,000 shares at a conversion price of HKD 0.5, representing approximately 0.73% of the total issued shares before conversion[48]. - The total compensation for directors and key management personnel for the six months ended June 30, 2025, was HKD 4,477,000, a decrease from HKD 8,980,000 in the same period of 2024[50]. - The company has a stock option plan in place that allows for the issuance of options up to 30% of the total issued shares, with specific performance targets for certain options[51][52]. - The company aims to attract and retain talented employees through the stock option plan, enhancing overall group contributions[99]. Management and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the interim financial statements for the six months ended June 30, 2025, and found them to comply with applicable accounting standards[111]. - There were changes in the board of directors, with Mr. Zhang Tingbang resigning and Ms. Duan Xicheng appointed as an executive director effective June 11, 2025[110]. - The board does not recommend an interim dividend for the six months ending June 30, 2025 (2024: none) [113]. - The company expresses gratitude to shareholders, business partners, contractors, and customers for their ongoing support [114].
未来数据集团(08229) - 2025 - 中期财报