Financial Performance - The group reported revenue of HKD 19,260,000 for the six months ended June 30, 2025, a decrease of 67.1% compared to HKD 58,631,000 in the same period of 2024[7] - Gross profit for the same period was HKD 4,864,000, representing a slight increase of 2.3% from HKD 4,755,000 in 2024[7] - Operating profit was HKD 1,202,000, a significant turnaround from an operating loss of HKD 2,128,000 in the previous year[7] - The net profit for the period was HKD 799,000, compared to a net loss of HKD 2,928,000 in 2024, indicating a recovery[9] - Revenue from foundation and related engineering was HKD 19,238,000, a decrease of 67.0% from HKD 58,209,000 in the previous year[20] - Revenue from alcohol beverage sales was HKD 22,000, down 94.8% from HKD 422,000 in the prior year[20] - The total comprehensive income for the period was HKD 778,000, compared to a total comprehensive loss of HKD 2,746,000 in the previous year[12] - For the six months ended June 30, 2025, the company reported a profit of HKD 799,000, compared to a loss of HKD 2,784,000 for the same period in 2024[12] - Basic earnings per share for the six months ended June 30, 2025, was HKD 0.36, a recovery from a loss of HKD (2.42) in 2024[40] - The company recorded a net profit of approximately HKD 0.8 million for the six months ended June 30, 2025, compared to a net loss of approximately HKD 2.9 million for the same period in 2024[55] Assets and Liabilities - Total assets decreased to HKD 85,279,000 as of June 30, 2025, down from HKD 94,454,000 at the end of 2024[10] - Current liabilities decreased to HKD 33,437,000 from HKD 42,255,000, showing a reduction of 20.9%[11] - The total liabilities for the reportable segments decreased to HKD 34,524 in 2025 from HKD 58,321 in 2024[29] - The total assets for the reportable segments decreased to HKD 83,254 in 2025 from HKD 99,011 in 2024[30] - Total borrowings as of June 30, 2025, were HKD 2,518,000, down from HKD 7,559,000 as of December 31, 2024[48] - The group's total debt, including borrowings and lease liabilities, was approximately HKD 4.5 million as of June 30, 2025, significantly reduced from HKD 9.9 million as of December 31, 2024[64] - The capital debt ratio was approximately 8.9% as of June 30, 2025, down from 19.9% as of December 31, 2024[64] Cash Flow and Liquidity - The company’s cash and bank balances were HKD 1,219,000, down from HKD 2,672,000, indicating a liquidity challenge[10] - Cash generated from operating activities was HKD 3,853,000, a decrease of 41.4% from HKD 6,574,000 in the previous year[13] - The company’s cash and cash equivalents decreased to HKD 1,219,000 from HKD 2,019,000, reflecting a decline of 39.6%[13] - The company incurred a net cash outflow from financing activities of HKD 5,840,000, compared to HKD 8,776,000 in the previous year[13] - The group maintained a net cash position as of June 30, 2025, indicating a stable financial condition to pursue business expansion[63] Equity and Shareholder Information - Total equity increased to HKD 50,384,000 from HKD 49,603,000, reflecting a growth of 1.57%[11] - The total equity attributable to owners increased to HKD 49,879,000 from HKD 38,766,000, representing a growth of 28.7%[12] - The total equity attributable to owners of the company was approximately HKD 49.9 million as of June 30, 2025, compared to HKD 49.1 million as of December 31, 2024[63] - The board does not recommend the payment of an interim dividend for the six months ended June 30, 2025[73] - The company did not recommend any interim dividend for the six months ended June 30, 2025, compared to no dividend in 2024[41] Operational Insights - The company has not disclosed any new product developments or market expansion strategies in the current report[7] - The company remains cautiously optimistic about future prospects, believing in gradual global economic recovery and long-term stable growth despite current challenges[56] - The company plans to continue investing in technological innovation and talent development to maintain its competitive advantage in the foundation engineering sector in Hong Kong[56] - The group did not make any significant investments, acquisitions, or disposals of subsidiaries or associates during the six months ended June 30, 2025[65] Governance and Compliance - The company has adopted the trading standards as per GEM Listing Rules, and all directors confirmed compliance during the six months ending June 30, 2025[81] - The company has adhered to all applicable corporate governance codes as per GEM Listing Rules during the reporting period[83] - An audit committee has been established to review and supervise the financial reporting process and internal control procedures[84] Management Changes - Following the resignation of Mr. Liu Songhao on September 10, 2025, Mr. Chen Juming was appointed as an executive director and co-chairman of the board[85] Miscellaneous - The company issued 106,340,018 shares through a rights issue at a subscription price of HKD 0.12 per share, raising net proceeds of approximately HKD 11,836,000[47] - Trade receivables overdue as of June 30, 2025, amounted to approximately HKD 97,000, compared to HKD 1,623,000 as of December 31, 2024[12] - Trade payables decreased from HKD 13,431,000 as of December 31, 2024, to HKD 6,562,000 as of June 30, 2025[50] - There were no competitive businesses or conflicts of interest involving directors, major shareholders, or their close associates during the reporting period[80] - No shares of the company were purchased, sold, or redeemed by the company or its subsidiaries during the six months ending June 30, 2025[79] - The group has no significant contingent liabilities as of June 30, 2025[69] - No stock options were granted, exercised, expired, or lapsed under the stock option plan during the six months ending June 30, 2025[82] - Post-reporting period, the company secretary acquired 51,000,000 shares and 750,000 shares from Qihao Limited and Liu Songhao respectively[86]
基地锦标集团(08460) - 2025 - 中期财报