Financial Performance - For the six months ended June 30, 2023, the company reported revenue of HKD 45,579,000, a slight increase of 0.68% compared to HKD 45,270,000 in the same period of 2022[6] - The gross profit for the same period was HKD 24,397,000, representing a gross margin of 53.7%, up from HKD 23,502,000 in 2022[6] - The company incurred a net loss attributable to equity holders of HKD 4,363,000, compared to a profit of HKD 128,000 in the prior year, resulting in a basic and diluted loss per share of HKD 1.365 cents[6] - The company reported a total comprehensive loss of HKD 4,599,000 for the period, compared to a loss of HKD 1,459,000 in the same period last year[8] - The company reported a net loss of HKD 4,363,000 for the six months ended June 30, 2023, compared to a profit of HKD 128,000 in the same period last year[12] - The group recorded a net cash outflow from operating activities of HKD 9.0 million for the interim period, compared to a net inflow of HKD 2.3 million in 2022[53] Assets and Liabilities - Total assets decreased to HKD 75,899,000 from HKD 86,733,000 as of December 31, 2022, reflecting a reduction in cash and cash equivalents[10] - The company's cash and cash equivalents dropped significantly to HKD 26,807,000 from HKD 39,969,000, indicating liquidity challenges[10] - The company’s net assets stood at HKD 73,332,000, down from HKD 77,931,000 at the end of 2022, reflecting a decline in overall equity[10] - The total equity as of June 30, 2023, is HKD 73,332,000, a decrease from HKD 81,442,000 at the beginning of the year[12] - The company’s total liabilities decreased to HKD 13,377,000 as of June 30, 2023, from HKD 19,814,000 as of December 31, 2022[36] Cash Flow and Expenses - Cash used in operating activities for the six months ended June 30, 2023, was HKD 9,028,000, significantly higher than HKD 2,283,000 in the previous year[14] - The company reported a decrease in cash flow from investing activities, with a net cash outflow of HKD 1,772,000 compared to HKD 3,188,000 last year[14] - Operating expenses increased by 20% to HKD 29.2 million from HKD 24.4 million in the same period of 2022, primarily due to higher employee costs and reduced foreign exchange gains[44][45] Research and Development - Research and development expenses increased to HKD 8,041,000, up 22% from HKD 6,594,000 in the previous year, indicating a focus on innovation[6] - The company plans to continue focusing on research and development to drive future growth and market expansion[5] - The company received a research and development subsidy of HKD 116,000 from the Shenzhen government for the six months ended June 30, 2023, down from HKD 243,000 for the same period in 2022[26] Market and Product Development - The company launched new products including the ACR1581U dual-interface smart card reader and PocketKey FIDO security lock in the first half of 2023, with more products planned for the second half[47] - The company aims to focus more on markets in the Americas and Southeast Asia due to geopolitical tensions affecting European customers[49] - The company anticipates some uncertainties in growth prospects for the second half of 2023 due to the current global economic downturn, but remains optimistic about new product innovations stimulating customer spending[50] Governance and Compliance - The audit committee has reviewed the unaudited consolidated results for the six months ended June 30, 2023, and discussed relevant financial matters with management[76] - The company has adopted trading rules for directors that comply with the standard code of conduct, confirming compliance during the interim period[74] - The company has deviated from the corporate governance code by having the same individual serve as both co-chairman and CEO, which is seen as beneficial for strategic continuity[73] - The company has complied with the corporate governance code, except for the aforementioned deviation regarding the roles of chairman and CEO[73] - The company emphasizes the importance of independent non-executive directors in maintaining effective governance despite the leadership structure[73]
高维科技(02086) - 2023 - 中期财报