Dividend and Financial Performance - The Company did not declare an interim dividend for the six months ended June 30, 2025, consistent with the previous year[11]. - For HY2025, the Group recorded total revenue of HK$47,973,000, an increase from HK$42,403,000 in HY2024[32]. - The Group reported a loss of HK$12,922,000 for HY2025, compared to a loss of HK$917,000 in HY2024[32]. - The longevity science business generated revenue of HK$34,253,000 but incurred a segment loss of HK$10,945,000 for HY2025[32]. - The money lending and financial advisory business had static revenue of HK$13,720,000 and a segment profit of HK$12,306,000 for HY2025[37]. - The Group's basic and diluted loss per share was HK$2.29 cents as of June 30, 2025, compared to HK$0.2 cents on June 30, 2024[33]. - The revenue from the longevity science business segment amounted to approximately HK$34,253,000 for HY2025, an increase from HK$25,180,000 in HY2024[84]. - The segment incurred a loss of approximately HK$10,945,000 in HY2025, compared to a loss of HK$4,342,000 in HY2024, primarily due to unforeseen events and operational challenges post-pandemic[88]. Business Operations and Strategy - The Company is diversifying its business and has become Asia's first one-stop health and longevity center since late 2022[12]. - The Company is focusing on expanding its longevity science business alongside its existing financial services[12]. - The Group is focusing on diversifying into promising longevity medical health businesses to enhance financial performance[26]. - The Company engaged Dongwei Law Firm to expedite the recovery of overdue loans from strategic partners, extending the service contract for an additional 36 months in August 2024[20]. - The restructuring of Tian Xing has been completed, restoring business partnerships and banking authority operations by June 2023[14]. - The Group plans to monetize portions of its loan portfolio with strategic partners Fanhua and Haier through ongoing negotiations[40]. - The Group has engaged with strategic partners to negotiate the monetization of parts of the loan portfolio, indicating ongoing market expansion efforts[42]. Loan Management and Recovery - The overdue loans from strategic partners are being managed with partial initial loan principals supplied by the Company[21]. - The strategic partner loans are being managed to recover overdue amounts, with RMB$6.7 million cash recovered from two borrowers[38]. - The recovery actions for impaired loans have entered a review assessment stage, highlighting the company's commitment to recovering outstanding amounts[46]. - The Independent Recovery Committee has successfully recovered gross proceeds from two borrower entities of four loans out of the 36 long-impaired loans, although the recovery process is still ongoing[45]. - The outstanding loans previously impaired amounted to approximately HK$1,076,000,000 as of December 31, 2019, with recovery efforts ongoing since August 2022[46]. Customer and Revenue Concentration - The top five customers accounted for approximately 51% of total revenue in HY2025, up from 33% in HY2024, with the largest customer contributing about 30% of total revenue, compared to 24% in HY2024[49]. - As of June 30, 2025, the largest customer and the top five customers accounted for 40% and 89% of the total gross loan receivables balance, respectively[49]. - The top five borrowers under the Strategic Partners Business Model accounted for approximately 20.13% of the entire other receivables of the Group as of June 30, 2025, up from 12.917% as of December 31, 2024[74]. - The top five borrowers under the Corporate and Personal Borrowers Business Model accounted for approximately 79.38% of the entire loan and interest receivables of the Group as of June 30, 2025, down from 89.19% as of December 31, 2024[82]. Financial Position and Assets - As of June 30, 2025, the Group's consolidated net assets were HK$431,540,000, up from HK$400,139,000 on December 31, 2024[33]. - As of June 30, 2025, the Group's net current assets were approximately HK$405,862,000, an increase from HK$372,047,000 as of December 31, 2024[97]. - Cash and bank balances as of June 30, 2025 were approximately HK$30,036,000, down from HK$47,842,000 as of December 31, 2024[100]. - The Group's bank and other borrowings decreased to HK$9,105,000 as of June 30, 2025, compared to HK$11,541,000 as of June 30, 2024[102]. - As of June 30, 2025, strategic partners loan assets were approximately HK$178,004,000 before impairments, with a net carrying value of approximately HK$113,422,000[74]. - The corporate and personal borrowers business loan assets were approximately HK$865,512,000 before impairments, with a net carrying value of approximately HK$228,801,000 as of June 30, 2025[82]. Share Capital and Employee Information - The total number of issued ordinary shares increased to 636,654,300 as of June 30, 2025, up from 546,529,549 as of December 31, 2024[103]. - The Group's employee count decreased to approximately 52 as of June 30, 2025, from 55 as of December 31, 2024[120]. - Employee benefits expense, excluding Directors' emoluments, was approximately HK$8.2 million in HY2025, representing an increase of about 29.8% compared to HK$6.3 million in HY2024[117]. Share Option and Award Schemes - The 2012 Share Option Scheme has 3,868,000 outstanding share options as of June 30, 2025, with an exercise period from December 31, 2023, to December 30, 2030[151]. - The 2022 Share Option Scheme allows the Board to grant options to qualifying participants, with the exercise price complying with Listing Rules[151]. - The total number of shares available for issue under the 2022 Share Option Scheme represents approximately 6.1% of the ordinary shares of the Company in issue[170]. - The Share Award Scheme was adopted on May 18, 2021, to recognize contributions and provide incentives for participants[188]. - The maximum number of restricted shares that may be awarded under the Share Award Scheme shall not exceed 38,680,000 shares, which is capped at 10% of the issued share capital of the Company[195].
中基长寿科学(00767) - 2025 - 中期财报