Financial Performance - For the three months ended June 30, 2022, the revenue was HKD 32,525,000, representing a 45% increase from HKD 22,462,000 in the same period of 2021[4] - For the six months ended June 30, 2022, the revenue reached HKD 61,775,000, up 51.6% from HKD 40,768,000 in the same period of 2021[4] - The net profit for the six months ended June 30, 2022, was HKD 12,378,000, a significant increase of 343% compared to HKD 2,797,000 in the same period of 2021[4] - The total comprehensive income for the six months ended June 30, 2022, was HKD 12,016,000, compared to HKD 2,825,000 for the same period in 2021, marking a 325% increase[4] - Basic earnings per share for the six months ended June 30, 2022, were HKD 15.47, compared to HKD 3.49 in the same period of 2021[28] - Total comprehensive income increased by approximately HKD 9,191,000 or 325.3% to about HKD 12,016,000 for the six months ended June 30, 2022, compared to approximately HKD 2,825,000 for the same period in 2021[74] Revenue Breakdown - Revenue from recruitment services in Hong Kong was HKD 35,624,000, up 54.8% from HKD 23,013,000 year-on-year[16] - Revenue from recruitment services in China increased to HKD 14,641,000, a significant rise of 177.5% compared to HKD 5,267,000 in the previous year[16] - Recruitment service revenue increased by approximately HKD 21,985,000 or 77.7% to about HKD 50,265,000 for the six months ended June 30, 2022, compared to approximately HKD 28,280,000 for the same period in 2021[66] - Revenue from Hong Kong operations increased significantly from approximately HKD 23,013,000 for the six months ended June 30, 2021, to approximately HKD 35,624,000 for the six months ended June 30, 2022, a rise of approximately HKD 12,611,000 or 54.8%[57] - Revenue from mainland China operations grew from approximately HKD 5,267,000 for the six months ended June 30, 2021, to approximately HKD 14,641,000 for the six months ended June 30, 2022, an increase of approximately HKD 9,374,000 or 178.0%[59] Assets and Liabilities - The total assets as of June 30, 2022, were HKD 86,831,000, compared to HKD 75,999,000 as of December 31, 2021, reflecting a growth of 14.4%[5] - The total liabilities decreased from HKD 19,478,000 as of December 31, 2021, to HKD 16,504,000 as of June 30, 2022, indicating a reduction of approximately 15.4%[6] - The company’s non-current assets increased to HKD 15,595,000 as of June 30, 2022, from HKD 10,677,000 as of December 31, 2021, showing a growth of 46.2%[5] - As of June 30, 2022, accounts receivable amounted to HKD 19,477,000, an increase from HKD 17,830,000 as of December 31, 2021, representing a growth of approximately 9.2%[33] - Total accounts receivable and other receivables reached HKD 25,592,000 as of June 30, 2022, compared to HKD 20,421,000 as of December 31, 2021, indicating a growth of about 25.5%[33] Cash Flow and Expenses - The company reported a decrease in operating cash flow usage to HKD 5,424,000 for the six months ended June 30, 2022, compared to a usage of HKD 3,388,000 in the same period of 2021[9] - The company incurred total financing costs of HKD 184,000 for the six months ended June 30, 2022, compared to HKD 38,000 in the previous year[22] - The total tax expense for the six months ended June 30, 2022, was HKD 1,743,000, an increase from HKD 715,000 in the same period of 2021[25] - Employee costs amounted to approximately HKD 37,499,000, representing 60.7% of revenue, a decrease from 73.7% in the previous year, with internal employee costs increasing by approximately HKD 8,328,000 or 44.3%[70] - Other expenses increased by approximately HKD 2,402,000 to about HKD 10,133,000, primarily due to business expansion costs related to operations in Hong Kong and mainland China[71] Corporate Governance and Compliance - The company has complied with the corporate governance code provisions as set out in the GEM Listing Rules during the six months ended June 30, 2022[103] - The company has adopted the trading standards as per GEM Listing Rules sections 5.48 to 5.67, confirming compliance by all directors for the six months ending June 30, 2022[104] - The Audit Committee, established on September 13, 2018, consists of three independent non-executive directors, with Mr. Pan Kai-kin as the chairman, overseeing financial reporting and internal controls[105] - The unaudited condensed consolidated financial statements for the six months ending June 30, 2022, have been reviewed by the Audit Committee, which provided opinions and recommendations[105] Future Outlook and Strategy - The company aims to leverage the post-COVID-19 recovery in Hong Kong to enhance its business performance and expand its operations in mainland China[52] - The company plans to focus on industries with recovery potential, such as e-commerce, logistics, education, and real estate in 2022[63] - The company aims to enhance its internal marketing teams in Hong Kong and mainland China to improve brand awareness through digital and social media platforms[63] - The company is committed to investing in dedicated teams in Hong Kong's financial services and information technology sectors, while closely monitoring performance and returns[63] - The company intends to strengthen its recruitment strategies to attract and retain high-quality talent essential for long-term organic growth[63]
高奥士国际(08042) - 2022 - 中期财报