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格林国际控股(02700) - 2023 - 中期财报

Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 25,109,000, a slight increase of 0.3% compared to HKD 25,037,000 in the same period of 2022[7] - Gross profit for the same period was HKD 12,210,000, down 0.2% from HKD 12,235,000 year-on-year[7] - The net other income and gains increased significantly to HKD 7,297,000 from HKD 1,255,000, representing a growth of 482%[7] - Loss before tax decreased to HKD 4,789,000, a 60% improvement compared to HKD 12,046,000 in the previous year[7] - The company reported a total comprehensive loss of HKD 5,077,000 for the period, compared to HKD 12,352,000 in the previous year, marking a 59% improvement[8] - The company reported a loss of HKD (4,566,000) for the six months ended June 30, 2023, which is an improvement from a loss of HKD (9,844,000) for the same period in 2022[14] - The total comprehensive income for the six months ended June 30, 2023, was HKD (4,929,000), compared to HKD (10,292,000) for the same period in 2022, showing a reduction in losses[14] - The group recorded a net loss of approximately HKD 4,704,000, a reduction of about 60.72% from HKD 11,977,000 in 2022[88] Assets and Liabilities - The total assets as of June 30, 2023, were HKD 141,590,000, down from HKD 168,637,000 at the end of 2022, reflecting a decrease of 16%[12] - Total liabilities decreased to HKD 92,132,000 from HKD 114,102,000, indicating a reduction of 19%[12] - The company's equity attributable to shareholders was HKD 47,258,000, down from HKD 52,187,000, a decline of 9.1%[12] - As of June 30, 2023, cash and bank balances decreased to HKD 72,265,000 from HKD 81,742,000 as of December 31, 2022, representing a decline of approximately 11.5%[58] - Trade payables decreased to HKD 3,106,000 as of June 30, 2023, down from HKD 4,599,000 as of December 31, 2022, a reduction of about 32.4%[61] - The aging analysis of trade payables shows that amounts overdue by more than 180 days increased to HKD 611,000 from HKD 165,000, indicating a significant rise in long-term liabilities[62] - Total liabilities for accrued expenses and other payables amounted to HKD 39,517,000 as of June 30, 2023, slightly down from HKD 40,589,000 as of December 31, 2022[65] Cash Flow - The net cash used in operating activities for the six months ended June 30, 2023, was HKD (4,415,000), compared to HKD 1,180,000 for the same period in 2022, indicating a significant decline in cash flow[16] - The net cash used in financing activities for the six months ended June 30, 2023, was HKD (5,360,000), an improvement from HKD (8,185,000) in the previous year[16] - The cash and cash equivalents decreased by HKD 9,235,000 during the six months ended June 30, 2023, compared to a decrease of HKD 7,076,000 in the same period of 2022[16] Operational Focus and Strategy - The company plans to focus on enhancing operational efficiency and exploring new market opportunities to drive future growth[6] - The company expects to continue focusing on market expansion and new product development to drive future growth[34] - The healthcare and medical business continues to face challenges due to market competition and increased operational costs related to COVID-19 measures[74] - The beauty and fitness business remains sluggish, impacted by changes in consumer behavior due to the COVID-19 pandemic, leading to a significant decline in service demand[77] - The company is closely monitoring market developments following the lifting of COVID-19 restrictions in December 2022, with no immediate plans for major acquisitions or expansions until market stability is achieved[78] Shareholder Information - As of June 30, 2023, major shareholder Zhou Cuiqiong holds 370,071,730 shares, representing 56.08% of the issued shares[117] - Liu Dong holds 25,146,000 shares, accounting for 3.81% of the issued shares[115] - The company did not declare any dividends for the six months ended June 30, 2023, consistent with the previous year[53] - No dividends were recommended for the current period, consistent with the previous year[110] Compliance and Governance - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, which did not result in significant changes to the financial statements[22] - The company has established an internal audit function with the assistance of an external consultant, which will regularly report to the audit committee on the adequacy and effectiveness of the risk management and internal control systems[124] - The audit committee consists of three independent non-executive directors, ensuring compliance with applicable accounting standards and listing rules[129] - The company held its annual general meeting on June 30, 2023, where amendments to the company's articles of association were approved[126] Employee Information - The company employed 177 staff members in Hong Kong and China as of June 30, 2023, with compensation evaluated based on individual and group performance[111]