Financial Performance - The Group's revenue for the six months ended June 30, 2025, decreased by approximately 19.7% to approximately HK$67.4 million from approximately HK$83.9 million in the same period of 2024[14]. - The Group recorded a net loss of approximately HK$24.4 million for the Period, compared to a net profit of approximately HK$4.5 million for the corresponding period in 2024[14]. - For the six months ended June 30, 2025, the total revenue decreased to approximately HK$67.4 million from HK$83.9 million in the same period of 2024, representing a decline of 19.7%[42]. - The gross profit dropped significantly from approximately HK$20.9 million and a gross profit margin of 24.9% in 2024 to approximately HK$1.9 million and 2.8% in 2025, indicating a substantial decrease in profitability[43][45]. - The Group reported a loss before income tax of HK$23,912,000 for the six months ended June 30, 2025, compared to a profit of HK$6,323,000 for the same period in 2024[188]. - The Company reported a net loss of HK$22,761,000 for the six months ended June 30, 2025, compared to a net loss of HK$894,000 for the same period in 2024[161]. - Total comprehensive loss for the period was HK$23,279,000, down from a total comprehensive income of HK$4,403,000 in the previous year[150]. Revenue Breakdown - Revenue from Future Energy Auckland Limited, acquired in July 2024, amounted to approximately HK$26.6 million, representing an increase of nearly 20% compared to approximately HK$22.7 million in the second half of last year[15]. - The AI+ electricity trading business in Guangdong achieved revenue growth from approximately HK$4.6 million for the six months ended June 30, 2024, to approximately HK$7.3 million for the Period[16]. - Revenue from the Green Power Energy Business was HK$24,324,000, while the BMU Systems Business generated HK$43,053,000 for the six months ended June 30, 2025[188]. - The Group's revenue from Hong Kong decreased to HK$41,563,000 for the six months ended June 30, 2025, down from HK$76,196,000 in 2024[184]. - The Group's revenue from New Zealand was HK$26,577,000 for the six months ended June 30, 2025, with no revenue reported in the previous year[184]. Expenses and Losses - Administrative expenses surged to approximately HK$27.1 million in 2025, up from HK$12.7 million in 2024, primarily due to the development of the Green Power Energy Business and the acquisition of a renewable energy business in New Zealand[48][53]. - Total administrative expenses increased to HK$27,137,000 in 2025 from HK$12,744,000 in 2024, reflecting a rise of 112.5%[147]. - The segment results for the Green Power Energy Business showed a loss of HK$17,292,000 for the six months ended June 30, 2025, compared to a profit of HK$542,000 in 2024[188]. - Operating loss for the six months ended June 30, 2025, was HK$21,666,000, compared to an operating profit of HK$7,870,000 in 2024[147]. Financial Position - The gearing ratio improved to 37.7% as of June 30, 2025, down from 78.6% as of December 31, 2024[10]. - The Group's monetary assets decreased to approximately HK$63.6 million as of June 30, 2025, down from approximately HK$67.9 million as of December 31, 2024[57][61]. - As of June 30, 2025, the Group's total borrowings amounted to approximately HK$41.6 million, a decrease from approximately HK$79.7 million as of December 31, 2024[64]. - The Group's net debt-to-equity ratio improved significantly from 20.2% as of December 31, 2024, to a net cash position as of June 30, 2025, due to loan capitalisation[66]. - The Group's total liabilities decreased significantly to HK$107,705,000 as of June 30, 2025, from HK$139,898,000 as of December 31, 2024, a reduction of approximately 23.0%[155]. - Equity attributable to owners of the company increased to HK$135,062,000 as of June 30, 2025, compared to HK$108,088,000 as of December 31, 2024, marking an increase of about 24.9%[153]. Shareholder Information - The Group completed a placing of 124,800,000 new shares at a price of HK$0.138 per share, raising net proceeds of approximately HK$16.4 million[73]. - The company entered into a subscription agreement with Treasure Ship to issue 188,370,000 shares at a subscription price of HK$0.172 per share[84]. - As of June 30, 2025, the total number of shares issued by the company was 937,170,000[118]. - Mr. Lin Zhang holds 219,205,000 shares, representing 23.39% of the total shareholding[115]. - Mr. Kwan Kam Tim holds 34,500,000 shares, representing 3.68% of the issued shares of the company[108]. Strategic Initiatives - The Group plans to achieve a total installed capacity of 10-20 GW in Southeast Asia within the next five years, focusing on renewable energy generation projects[33]. - Management believes that the Green Power Energy Business will become the core growth driver, continuously generating sustainable long-term value and competitive advantages[37]. - The Group will continue to optimize strategies and explore new market opportunities to enhance operational performance[29]. Corporate Governance - The company has complied with all applicable code provisions as set out in the Corporate Governance Code[93]. - The audit committee has reviewed the unaudited interim condensed consolidated financial information for the period[102]. - The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2025, consistent with the previous year[83].
益美国际控股(01870) - 2025 - 中期财报