Financial Performance - For the six months ended June 30, 2023, the company's revenue decreased by 5% to HKD 675,452,000 compared to HKD 707,738,000 in the same period last year[6]. - The net profit attributable to shareholders for the same period was HKD 4,726,000, down from HKD 8,927,000 in the previous year[6]. - The gross profit margin for the period was approximately 3.39%, down from 3.80% in the previous year, reflecting the impact of rising costs[12]. - The company reported a basic and diluted earnings per share of HKD 1.69, compared to HKD 3.19 in the prior year[12]. - For the six months ended June 30, 2023, the company reported a profit of HKD 4,726,000, a decrease of 47.1% compared to HKD 8,927,000 for the same period in 2022[25]. Assets and Equity - Non-current assets decreased from HKD 14,054,000 as of December 31, 2022, to HKD 12,725,000 as of June 30, 2023[13]. - Current assets increased slightly from HKD 191,921,000 to HKD 195,839,000 during the same period[13]. - The total equity attributable to shareholders decreased from HKD 158,563,000 to HKD 157,884,000[13]. - The company's total equity attributable to owners increased to HKD 157,884,000 as of June 30, 2023, up from HKD 145,340,000 at the end of June 2022, representing an increase of 8.7%[14]. - The company's retained earnings increased to HKD 128,519,000 as of June 30, 2023, from HKD 100,509,000 at the end of June 2022, marking a growth of 27.9%[14]. Cash Flow and Liquidity - The company's cash and cash equivalents rose to HKD 100,709,000 from HKD 86,122,000, indicating improved liquidity[13]. - The net cash generated from operating activities for the six months ended June 30, 2023, was HKD 15,923,000, a significant improvement from a cash outflow of HKD 81,000 in the same period last year[15]. - The company's total cash and cash equivalents increased to HKD 100,709,000 as of June 30, 2023, compared to HKD 64,642,000 at the end of June 2022, reflecting a growth of 55.7%[15]. - The company recorded a net cash outflow from investing activities of HKD 82,000 for the six months ended June 30, 2023, compared to HKD 58,000 in the same period last year[15]. - The company’s financing activities resulted in a cash outflow of HKD 1,254,000 for the six months ended June 30, 2023, contrasting with a cash inflow of HKD 8,746,000 in the same period of 2022[15]. Tax and Expenses - The company recognized a tax expense of HKD 1,556,000 for the six months ended June 30, 2023, compared to HKD 824,000 for the same period in 2022, indicating a rise of 88.9%[24]. - The company recorded a fair value loss on equity instruments of HKD 962,000 for the six months ended June 30, 2023[14]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules throughout the reporting period[63]. - The audit committee, composed entirely of independent non-executive directors, reviewed the financial statements for the six months ending June 30, 2023[66]. Shareholder Information - Directors and their associates held a total of 205,582,221 shares, representing 73.42% of the issued share capital[50]. - Major shareholder Summertown Ltd holds 203,607,467 shares, representing approximately 72.72% of the company's issued share capital[62]. - Gold Sceptre Limited owns 191,357,867 shares, accounting for about 68.34% of the issued share capital[62]. - New Dragon International Group Limited has 146,442,667 shares, which is approximately 52.30% of the issued share capital[62]. Employee and Operational Information - The number of employees increased to 50 as of June 30, 2023, from 46 as of June 30, 2022[42]. - The group’s average credit period for trade customers is 30 days, with no interest charged on overdue debts[33]. - The group has no bank borrowings as of June 30, 2023, maintaining a strong liquidity position[40]. Risk Management - The company has no major financial risks reported in the current period[48]. - The company has no currency hedging policy but monitors currency fluctuation risks[47]. - The company has not reported any major currency risk due to the peg between HKD and USD[47]. - The company continues to monitor and assess the need for currency hedging as necessary[47]. Stock Options and Securities - The company’s stock options plan details are available in the 2022 annual report[57]. - As of June 30, 2023, the company had no unexercised stock options[55]. - The total number of unexercised stock options as of June 30, 2023, is 7,590,000, unchanged from December 31, 2022[60]. - The total number of stock options held by directors and their associates is 6,390,000, all of which are unexercised[60]. - No stock options were granted, exercised, or forfeited during the reporting period[60]. - The company did not purchase, sell, or redeem any of its listed securities during the period ending June 30, 2023[67]. - The exercise price for the stock options is set at HKD 2.36[60].
新龙移动(01362) - 2023 - 中期财报