Financial Performance - Revenue for the six months ended June 30, 2023, was approximately HK$56.4 million, representing an increase of approximately 20.5% compared to HK$46.8 million for the same period last year[11]. - Net loss for the period was approximately HK$4.1 million, a slight improvement from a net loss of approximately HK$4.2 million in the corresponding period of 2022[11]. - Basic and diluted loss per share was approximately HK0.48 cents, compared to HK0.39 cents for the same period last year[11]. - Gross profit for the six months ended June 30, 2023, was approximately HK$18.5 million, up from HK$13.2 million in the same period last year, indicating a significant improvement in profitability[14]. - Operating loss for the period was approximately HK$0.6 million, an improvement from a loss of HK$1.6 million in the same period last year[14]. - The loss attributable to owners of the company for the six months ended June 30, 2023, was HK$4,810,000, an increase from a loss of HK$3,986,000 in the same period of 2022[17]. - The company experienced a comprehensive loss attributable to owners of HK$5,645,000 for the six months ended June 30, 2023, compared to a loss of HK$4,950,000 in the same period of 2022[21]. - For the six months ended June 30, 2023, the Group generated net cash inflow from operating activities of HK$5.15 million, compared to a net outflow of HK$0.898 million in the same period of 2022[23]. - The Group's total cash and cash equivalents as of June 30, 2023, were HK$36.2 million, an increase from HK$34.1 million as of June 30, 2022[30]. Expenses and Costs - Administrative and other operating expenses increased to approximately HK$20.5 million from HK$17.5 million in the previous year, reflecting higher operational costs[14]. - Finance costs increased to approximately HK$3.5 million from HK$3.1 million, reflecting higher borrowing costs[14]. - Staff costs, including directors' remuneration, were HK$18,921,000, slightly down from HK$19,371,000 in the previous year[63]. - General and Administrative expenses increased by approximately HK$3.0 million from approximately HK$17.5 million for HY2022 to approximately HK$20.5 million for the Reporting Period[119]. Assets and Liabilities - Current assets decreased to HK$109,168,000 as of June 30, 2023, down from HK$110,737,000 at the end of 2022, primarily due to a reduction in inventories[19]. - Non-current assets decreased from HK$26,285,000 at December 31, 2022, to HK$22,728,000 as of June 30, 2023, reflecting a decline in property, plant, and equipment[19]. - The company's net current assets dropped to HK$8,944,000 as of June 30, 2023, compared to HK$12,010,000 at the end of 2022[19]. - Total liabilities increased to HK$37,663,000 as of June 30, 2023, from HK$39,120,000 at December 31, 2022, indicating a slight reduction in overall debt[19]. - The company's total deficit increased to HK$5,991,000 as of June 30, 2023, from HK$825,000 at the end of 2022, indicating worsening financial health[19]. Revenue Breakdown - Revenue from concrete demolition services decreased to HK$31,621,000, down 7.1% from HK$34,158,000 in 2022[45]. - Revenue from the manufacturing and trading of prefabricated construction components increased significantly to HK$24,768,000, up 95.5% from HK$12,657,000 in 2022[45]. - Revenue from private sector projects decreased to HK$17,057,000 in the first half of 2023, down 25.4% from HK$22,887,000 in the same period of 2022[99]. - Revenue from public sector projects increased to HK$14,564,000 in the first half of 2023, up 29.3% from HK$11,271,000 in the same period of 2022[99]. Cash Flow and Financing - The Group reported a net cash outflow from investing activities of HK$1.12 million for the six months ended June 30, 2023, compared to HK$0.954 million in the prior year[23]. - Financing activities resulted in a net cash outflow of HK$3.655 million for the six months ended June 30, 2023, compared to HK$0.609 million in the same period of 2022[23]. - The Group has entered into extension agreements with bondholders to extend the repayment period of HK$5.0 million and HK$0.8 million bond payables to July 2024 and August 2024, respectively[30]. - Loans of HK$29.3 million due to a director are maturing in March 2025[36]. - The other loan of HK$40,000,000 is unsecured, bearing an interest rate of 6.75% per annum, and is due for repayment on November 25, 2023[88]. Shareholder Information - As of June 30, 2023, the beneficial owner Zhou Jin held 284,500,000 shares, representing approximately 28.15% of the shareholding[140]. - Huang Cheng, a substantial shareholder, held 188,620,000 shares, which is approximately 18.66% of the shareholding[147]. - Zhu Zhou, another substantial shareholder, held 129,000,000 shares, representing approximately 12.76% of the shareholding[147]. Corporate Governance and Compliance - The company complied with the Corporate Governance Code, except for certain deviations regarding insurance cover for directors and the attendance of the chairman at the annual general meeting[151][152]. - The Audit Committee has reviewed the unaudited consolidated financial statements for the Reporting Period, ensuring compliance with financial reporting standards[165][168].
朝威控股(08059) - 2023 - 中期财报