Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 84,898,000, a decrease of 32.9% compared to HKD 126,235,000 for the same period in 2024[4] - Gross profit for the same period was HKD 5,255,000, down 57.3% from HKD 12,310,000 in 2024[4] - The net loss for the six months ended June 30, 2025, was HKD 107,731,000, a significant improvement compared to a net loss of HKD 347,895,000 in 2024, representing a 69.0% reduction[7] - Other income for the period was HKD 17,064,000, compared to HKD 19,488,000 in 2024, reflecting a decrease of 12.4%[4] - The basic loss per share for the period was HKD 0.1030, an improvement from HKD 0.5014 in the previous year[4] - The total comprehensive loss for the period was (420,632) thousand HKD, which includes a loss of (343,241) thousand HKD attributed to owners[11] - The company reported a total of HKD 17,064,000 in other income for the six months ended June 30, 2025, compared to HKD 19,488,000 for the same period in 2024[31] - The company reported a loss attributable to shareholders of approximately HKD 105,300,000 for the period, compared to a loss of HKD 343,200,000 for the six months ended June 30, 2024[83] Cash Flow and Assets - Cash and cash equivalents increased to HKD 666,295,000 from HKD 464,844,000, showing a growth of 43.3%[8] - Total assets as of June 30, 2025, were HKD 1,973,800,000, a slight decrease from HKD 2,012,435,000 at the end of 2024[9] - The company reported a net cash flow from operating activities of (376,096) thousand HKD for the six months ended June 30, 2025, compared to (4,590) thousand HKD in the same period of 2024[12] - The net cash flow from investing activities was 580,179 thousand HKD for the six months ended June 30, 2025, significantly up from 29,400 thousand HKD in the previous year[12] - As of June 30, 2025, the company had cash and cash equivalents of 666,295 thousand HKD, an increase from 197,496 thousand HKD at the end of the previous year[12] Equity and Liabilities - The company's equity attributable to owners decreased to HKD 1,966,019,000 from HKD 1,999,653,000, a decline of 1.7%[10] - The company’s total equity attributable to owners decreased to 3,199,575 thousand HKD as of June 30, 2025, from 3,363,213 thousand HKD at the beginning of the year[11] - The company’s accumulated losses reached (4,321,656) thousand HKD as of June 30, 2025[11] - The total current assets and current liabilities were approximately HKD 1,012,500,000 and HKD 659,400,000, respectively, compared to HKD 1,549,800,000 and HKD 854,700,000 as of December 31, 2024[88] - The company’s debt-to-equity ratio was approximately 0.8% as of June 30, 2025, consistent with the ratio as of December 31, 2024[90] Segment Performance - The segment performance for the travel technology solutions division reported a loss before tax of HKD 225,705,000, while the jewelry products, watches, and other goods division reported a loss of HKD 9,668,000 for the same period[24] - Revenue from the sale of jewelry products, watches, and other goods was HKD 81,040,000 for the six months ended June 30, 2025, down from HKD 84,923,000 in 2024, indicating a decrease of approximately 4.4%[25] - The company recorded a total loss before tax of HKD 348,606,000 for the six months ended June 30, 2025, compared to a loss of HKD 107,057,000 for the previous period[24] Investments and Financing - The company issued shares resulting in proceeds of 254,027 thousand HKD during the period, with share issuance expenses of (2,785) thousand HKD[12] - The company issued convertible bonds with a principal amount of HKD 300,000,000 on December 18, 2024, with an annual interest rate of 5%[48] - Approximately 90.01% (HKD 269,300,000) of the net proceeds from the convertible bonds will be used for the R&D of high-performance supercars and electric vehicles[98] - The company has provided a capital commitment of HKD 246,064,000 to a joint venture as of December 31, 2025[59] Market Trends - The global luxury supercar market is projected to reach approximately USD 15.62 billion by 2025, with a compound annual growth rate (CAGR) of about 32.2% expected through 2033[64] - North America is anticipated to maintain a dominant position in the luxury supercar market, accounting for over 40% of global revenue, while the Asia-Pacific region is expected to grow at a CAGR of approximately 34.2%[64] - The luxury supercar market is expected to grow significantly, with a projected CAGR of about 31% from 2025 to 2034, increasing market value from approximately $33.5 billion in 2025 to $384.9 billion by 2034[77] Corporate Governance - The company has complied with all applicable code provisions of the Corporate Governance Code during the period[123] - The Audit Committee has been established to assist the board in financial monitoring and risk management[128] - The board composition changed with the resignation of Mr. Zhai Kexin and the appointment of Mr. Zhuang Qiyu as an independent non-executive director[126] Employee and Management - The total remuneration for key management personnel in 2025 is HKD 24,631,000, compared to HKD 2,853,000 in 2024, indicating a significant increase[60] - The group employed 47 staff members as of June 30, 2025, with employee costs amounting to approximately HKD 46,400,000 during the period[120] Share Options and Equity - The 2023 Share Option Scheme was adopted on June 30, 2023, and aims to provide eligible participants with equity ownership opportunities to incentivize contributions to the group's performance and growth[113] - Under the 2023 Share Option Scheme, a total of 102,750,000 share options were granted, which corresponds to about 10.05% of the total issued shares as of the report date[117] - The total number of options exercised during the period was zero, indicating no options were exercised under the 2023 Share Option Scheme[115]
APOLLO出行(00860) - 2025 - 中期财报