Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 28,176,000, representing a 8.7% increase from HKD 25,921,000 in the same period of 2024[8] - Gross profit increased to HKD 19,280,000, up 37.5% from HKD 14,034,000 year-on-year[8] - The company reported a net loss of HKD 2,385,000 for the period, compared to a net loss of HKD 1,609,000 in 2024, indicating a deterioration in performance[9] - Basic and diluted loss per share was HKD 0.53, compared to HKD 0.23 in the previous year, reflecting a 130.4% increase in loss per share[8] - The total comprehensive loss for the period ended June 30, 2025, was HKD 3,526,000, compared to a loss of HKD 1,522,000 for the same period in 2024, representing an increase in loss of approximately 131.5%[15] - The group reported a loss before tax of HKD 2,575,000 for the six months ended June 30, 2025, compared to a loss of HKD 1,681,000 for the same period in 2024, indicating a deterioration in performance[43] Assets and Liabilities - Total assets decreased to HKD 107,363,000 from HKD 113,445,000 as of December 31, 2024, a decline of 5.4%[12] - Non-current assets decreased from HKD 39,336,000 to HKD 34,012,000, a reduction of 13.5%[12] - Current assets slightly decreased to HKD 73,351,000 from HKD 74,109,000, a decline of 1.0%[12] - Total liabilities decreased to HKD 63,143,000 from HKD 67,766,000, a reduction of 6.9%[13] - The company reported a significant increase in bank borrowings, rising to HKD 4,199,000 from HKD 1,596,000, an increase of 162.5%[13] - As of June 30, 2025, total equity attributable to equity holders was HKD 39,266,000, down from HKD 41,164,000 as of January 1, 2024, reflecting a decrease of approximately 4.6%[15] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2025, was HKD 2,704,000, compared to HKD 3,089,000 for the same period in 2024, indicating a decline of about 12.5%[17] - The net cash used in investing activities for the six months ended June 30, 2025, was HKD 2,613,000, a significant decrease from the net cash generated of HKD 1,223,000 in 2024[17] - The net cash used in financing activities for the six months ended June 30, 2025, was HKD 2,054,000, an improvement compared to HKD 6,091,000 in the previous year, showing a reduction of approximately 66.3%[17] - As of June 30, 2025, cash and cash equivalents decreased to HKD 62,616,000 from HKD 63,463,000 at the beginning of the period, reflecting a decline of about 1.3%[17] Business Segments - For the six months ended June 30, 2025, the healthcare and medical business generated revenue of HKD 23,536,000, while the beauty and fitness business contributed HKD 4,640,000, totaling HKD 28,176,000[32] - The total net revenue for the six months ended June 30, 2025, was HKD 6,481,000, a significant increase from HKD 1,422,000 in the same period of 2024, representing a growth of approximately 355%[34] - The total non-current assets as of June 30, 2025, amounted to HKD 34,012,000, with HKD 33,784,000 attributed to the healthcare and medical business[37] Expenses and Cost Management - Direct costs and operating expenses decreased to approximately HKD 8,896,000, down about 25.16% from HKD 11,887,000 in 2024, primarily due to reduced product costs[69] - Administrative expenses were approximately HKD 10,083,000, a decrease of about 14.28% from HKD 11,763,000 in 2024, attributed to cost control measures[73] - The company incurred net financing costs of HKD 511,000 for the six months ended June 30, 2025, down from HKD 1,026,000 in 2024, indicating improved cost management[41] Shareholder Information - As of June 30, 2025, Mr. Liu Dong holds 25,146,000 shares (3.81%) and Ms. Zhou Cuiqiong holds 370,071,730 shares (56.08%) in the company[99] - Major shareholder Wei Xin International holds 370,071,730 shares (56.08%) and Chang Jian Limited holds 67,647,058 shares (10.25%) in the company[102] - The company confirmed compliance with the corporate governance code, with 370,071,730 shares held by Ms. Zhou and Wei Xin, representing approximately 56.1% of the total issued shares of 659,894,693 as of June 30, 2025[106] Governance and Compliance - The company has engaged an external consultant for internal audit functions due to the absence of an internal audit department, ensuring independent review of risk management and internal control systems[107] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements, confirming compliance with applicable accounting standards and sufficient disclosure[109] - Mr. Cai Dawi resigned as an independent non-executive director effective June 26, 2025, leading to non-compliance with certain listing rules until a replacement is appointed[96] - Ms. Ma Sha was appointed as an independent non-executive director effective July 1, 2025, restoring compliance with listing rules regarding independent directors[97] Other Information - The company did not recommend any dividend for the six months ended June 30, 2025, consistent with the previous year[48] - The group has no significant investments as of June 30, 2025[84] - The group has not made any acquisitions or disposals of subsidiaries during the period[85] - The group employed 162 staff in Hong Kong and China as of June 30, 2025[94] - There are no significant ongoing or threatened litigations against the company or its subsidiaries as of the report date[95]
格林国际控股(02700) - 2025 - 中期财报