伟鸿集团控股(03321) - 2025 - 中期财报

Company Information This section details the company's corporate structure, including Board and committee changes, key personnel, and essential corporate information Board of Directors The Board of Directors underwent significant changes, with new CEO and Executive Director appointments, and multiple resignations or suspensions - Mr. Qiu Yiming was appointed Chief Executive Officer on May 2, 2025[4] - Ms. Chen Jianyue was appointed Executive Director on March 12, 2025[4] - Mr. Guan Xiongjun was appointed Executive Director on May 2, 2025[4] - Mr. Au Chi Fung resigned as Executive Director on July 16, 2025[4] - Ms. Bohra Shilpa Rajesh resigned as Executive Director on March 12, 2025[4] - Dr. Zhao Zhihua resigned as Executive Director on May 2, 2025[4] - Mr. Luk Man Fu resigned as Executive Director on April 2, 2025[4] - The executive directorships of Mr. Li Kam Hung and Mr. Yu Ming Hao were suspended[4] - Ms. Dong Qing, Mr. Tam Tsz Hin, and Mr. Yu Kwan Sheung were appointed Independent Non-executive Directors during the reporting period[4] Committees Changes occurred in the chairpersons and members of the Audit, Remuneration, and Nomination Committees, reflecting the Board restructuring - Mr. Yu Kwan Sheung was appointed Chairman of the Audit Committee on July 16, 2025[4] - Mr. Tam Tsz Hin was appointed Chairman of the Remuneration Committee on July 16, 2025[5] - Ms. Dong Qing was appointed Chairman of the Nomination Committee on July 16, 2025[5] Authorized Representatives and Company Secretary Mr. Au Chi Fung resigned as Authorized Representative, with Mr. Guan Xiongjun appointed, while Mr. Wong Sze Lok remains Company Secretary - Mr. Au Chi Fung resigned as Authorized Representative on July 16, 2025[6] - Mr. Guan Xiongjun was appointed Authorized Representative on July 16, 2025[6] - Mr. Wong Sze Lok serves as Company Secretary[6] Auditor and Registered Office The company's auditor is HLB Hodgson Impey Cheng Limited, and its registered office is located in the Cayman Islands - The auditor is HLB Hodgson Impey Cheng Limited[6] - The registered office is located at Cricket Square, Cayman Islands[6] Principal Place of Business and Share Registrar The company maintains principal places of business in Macau and Hong Kong, with its principal share registrar in the Cayman Islands and Hong Kong branch registrar being Tricor Investor Services Limited - The Macau head office and principal place of business is located at Alameda Dr. Carlos d'Assumpcao[6] - The Hong Kong principal place of business is located at On Lok Industrial Centre, Chai Wan, Hong Kong[6] - The Hong Kong branch share registrar is Tricor Investor Services Limited[7] Principal Bankers and Legal Advisers The company's principal bankers include Banco Comercial de Macau and Banco Weng Hang, with Khoo & Co as its Hong Kong legal adviser - Principal bankers are Banco Comercial de Macau and Banco Weng Hang[7] - Hong Kong legal adviser is Khoo & Co[7] Stock Code and Website The company's stock code is 3321, listed on the Main Board of The Stock Exchange of Hong Kong Limited, with its website at whh.com.hk - The stock code is 3321, listed on the Main Board of The Stock Exchange of Hong Kong Limited[7] - The company's website is whh.com.hk[7] Management Discussion and Analysis This section provides an overview of the Group's business operations, financial performance, capital structure, and risk management strategies Business Review and Prospects The Group primarily offers renovation and maintenance services in Macau and Hong Kong, focusing on commercial properties, but faced challenges in new project acquisition due to senior management issues, leading to a strategic shift towards anti-counterfeiting technology and related interior decoration projects - The Group primarily engages in providing renovation, maintenance, and repair services in Macau and Hong Kong, historically focused on commercial properties, particularly within integrated resorts in Macau[10] - During the reporting period, the Group's performance was significantly impacted by events involving senior management, leading to challenges in securing new casino projects and a notable decrease in new project acquisitions[10] - On May 13, 2025, the Company entered into a non-legally binding Memorandum of Understanding with Nanjing Zhongke Micropoint Group Co, Ltd to explore business opportunities in developing and distributing cutting-edge anti-counterfeiting technology products[10] - The Company will directly participate as a consultant or engage in interior decoration projects for multiple independent data and production centers to be established in dozens of provinces across China for the Nanjing Zhongke Micropoint project[10] - The Board proposes to change the company's English name to "Zhongke Micropoint (Group) Co., Ltd" and adopt the Chinese name "中科微點（集團）有限公司" to reflect the new business direction[11] Financial Review For the six months ended June 30, 2025, the Group's total revenue significantly decreased by 82.9% to MOP1.1 million, with a loss for the period of approximately MOP58.0 million, largely consistent with the prior year, primarily due to reduced new project acquisitions, increased impairment losses, and higher finance costs Major Financial Data Overview | Indicator | Six Months Ended June 30, 2025 (thousand MOP) | Six Months Ended June 30, 2024 (thousand MOP) | | :--- | :--- | :--- | | Total Revenue | 1,100 | 6,100 | | Loss for the Period | (58,000) | (58,600) | - The Group completed 1 renovation project in Macau during the six months ended June 30, 2025[13] Revenue Change | Indicator | Six Months Ended June 30, 2025 (thousand MOP) | Six Months Ended June 30, 2024 (thousand MOP) | Change (thousand MOP) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 1,100 | 6,100 | (5,000) | -82.9% | Direct Costs Change | Indicator | Six Months Ended June 30, 2025 (thousand MOP) | Six Months Ended June 30, 2024 (thousand MOP) | Change (thousand MOP) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Total Direct Costs | 1,000 | 5,900 | (4,900) | -83.0% | Gross Profit and Gross Margin Change | Indicator | Six Months Ended June 30, 2025 (thousand MOP) | Six Months Ended June 30, 2024 (thousand MOP) | | :--- | :--- | :--- | | Gross Profit | 100 | 200 | | Gross Margin | 3.6% | 2.9% | Other Income and Net Other Gains Change | Indicator | Six Months Ended June 30, 2025 (thousand MOP) | Six Months Ended June 30, 2024 (thousand MOP) | Change (thousand MOP) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Other Income and Net Other Gains | 0 | 1 | (1) | -100% | - Other income and net other gains primarily comprised bank interest income[18] Impairment Losses Change | Indicator | Six Months Ended June 30, 2025 (thousand MOP) | Six Months Ended June 30, 2024 (thousand MOP) | Change (thousand MOP) | | :--- | :--- | :--- | :--- | | Provision for impairment losses on financial assets and contract assets | 49,000 | 42,800 | 6,200 | - The increase in impairment losses was due to a decrease in the recoverability of long outstanding trade receivables during the reporting period[19] Administrative Expenses Change | Indicator | Six Months Ended June 30, 2025 (thousand MOP) | Six Months Ended June 30, 2024 (thousand MOP) | Change (thousand MOP) | | :--- | :--- | :--- | :--- | | Administrative Expenses | 5,400 | 14,400 | (9,000) | | Percentage of Total Revenue | 515.5% | 235.4% | | | Administrative Staff Costs | 4,000 | 8,200 | (4,200) | - The