Financial Performance - For the six months ended June 30, 2025, the company's revenue was approximately HKD 23,202,000, a decrease of about 66.3% compared to HKD 68,889,000 in the same period of 2024[4] - The loss attributable to equity shareholders for the same period was approximately HKD 4,193,000, a reduction of about 19.9% from HKD 5,235,000 in 2024[4] - The company's gross profit for the six months ended June 30, 2025, was HKD 716,000, down from HKD 2,007,000 in 2024[5] - The total comprehensive loss for the period was HKD 4,174,000, compared to HKD 5,342,000 in the same period of 2024[5] - The group reported a consolidated loss before tax of HKD 4,211,000 for the six months ended June 30, 2025, compared to a loss of HKD 5,332,000 for the same period in 2024[24][26] - The company reported a pre-tax loss of HKD 4,193,000 for the six months ended June 30, 2025, compared to a loss of HKD 5,235,000 for the same period in 2024, indicating an improvement of approximately 19.9%[37] Revenue Breakdown - Revenue from telecommunications services was HKD 3,393,000, down 24.4% from HKD 4,481,000 in the previous year[18] - Distribution business revenue significantly decreased to HKD 19,809,000 from HKD 64,408,000, representing a decline of 69.1%[18] - The revenue from telecommunications services and distribution business was approximately HKD 3,393,000 and HKD 19,809,000, accounting for about 14.6% and 85.4% of total revenue, respectively[75] - Revenue from telecommunications services for the six months ended June 30, 2025, was approximately HKD 3,376,000, a decrease of about 24.3% compared to approximately HKD 4,460,000 in the same period last year[65] - The distribution business in Hong Kong generated revenue of approximately HKD 6,829,000 for the six months ended June 30, 2025, a decrease of about 78.2% from approximately HKD 31,288,000 in the same period last year[67] - The distribution business in China reported revenue of approximately HKD 1,167,000 for the six months ended June 30, 2025, a decrease of about 69.5% from approximately HKD 3,831,000 in the same period last year[68] - Revenue from mobile and data recharge distribution in Singapore decreased by approximately 59.7% to about HKD 11,813,000 for the six months ended June 30, 2025, down from approximately HKD 29,289,000 in the same period last year[69] Assets and Liabilities - Total assets less current liabilities as of June 30, 2025, amounted to HKD 31,370,000, compared to HKD 35,241,000 as of December 31, 2024[6] - The company's cash and cash equivalents decreased to HKD 22,972,000 as of June 30, 2025, from HKD 26,571,000 at the beginning of the period[9] - The company's equity totalled HKD 30,622,000 as of June 30, 2025, down from HKD 34,796,000 as of December 31, 2024[7] - The group’s current assets net value was approximately HKD 29,416,000 as of June 30, 2025, with cash and cash equivalents around HKD 22,972,000[80] - Trade receivables amounted to HKD 30,337,000 as of June 30, 2025, slightly down from HKD 30,919,000 as of December 31, 2024, a decrease of about 1.9%[43] - Trade payables as of June 30, 2025, were HKD 3,298,000, down from HKD 3,527,000 as of December 31, 2024[47] Cash Flow and Operating Activities - The net cash used in operating activities for the six months ended June 30, 2025, was HKD 3,720,000, compared to HKD 4,509,000 in 2024[9] - The group’s cash and cash equivalents decreased by approximately 13.5% from HKD 26,805,000 as of December 31, 2024, to HKD 22,972,000 as of June 30, 2025[46] Dividends and Share Capital - The company did not recommend any dividend payment for the six months ended June 30, 2025[4] - The group’s issued and paid-up share capital remained at HKD 48,975,000 as of June 30, 2025, unchanged from December 31, 2024[49] - The board does not recommend any dividend payment for the six months ended June 30, 2025, consistent with the previous period[88] Management and Governance - The financial report was prepared in accordance with the International Financial Reporting Standards and was reviewed by the company's audit committee[13] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited results for the six months ending June 30, 2025, and confirmed compliance with applicable accounting standards[103] - The company is committed to maintaining high standards of corporate governance to protect shareholder interests[97] - The company has complied with the corporate governance code as per GEM Listing Rules Appendix C1 as of June 30, 2025[97] Business Strategy and Market Outlook - The group is actively negotiating with service providers to further reduce the unit cost of call time and mobile data to lower the selling price of prepaid products and enhance competitiveness[66] - The group plans to expand its distribution network to overseas markets, targeting overseas users traveling abroad to enjoy mobile data services at lower prices[66] - Management has decided to suspend the sale of mobile and data recharge electronic vouchers starting from the third quarter of 2025 due to ongoing market competition and declining gross margins[70] - The group plans to launch upgraded roaming plans integrating AI real-time translation and eSIM technology to enhance customer experience[71] - The group aims to explore partnerships with hotels and airlines to tap into incremental demand amid market challenges[73] - The group is cautiously optimistic about medium to long-term business development despite ongoing global economic uncertainties[72] Employee and Compensation - The group reported a total of HKD 929,000 in key management personnel compensation for the six months ended June 30, 2025, slightly up from HKD 928,000 for the same period in 2024[62] - The group maintains 18 employees as of June 30, 2025, with compensation based on market terms and individual performance[87] Shareholder Information - As of June 30, 2025, major shareholders include New Everich Holdings Limited, holding 42.65% of the shares, with significant ownership by Mr. Li Jiancheng[89][92] - No other individuals, apart from the disclosed major shareholders, hold 10% or more of the company's shares as of June 30, 2025[93] Compliance and Risk Management - The audit committee has confirmed the effectiveness of the risk management and internal control systems as of June 30, 2025[103] - The company has not engaged in any securities trading violations as confirmed by the board of directors[98]
直通电讯(08337) - 2025 - 中期财报