Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 1,018,386, a decrease of 9.7% compared to HKD 1,127,200 for the same period in 2022[5] - Operating profit for the six months ended June 30, 2023, was HKD 21,392, down 61.6% from HKD 55,662 in the previous year[7] - The net loss for the six months ended June 30, 2023, was HKD 3,784, compared to a profit of HKD 26,380 in the same period of 2022[7] - The company reported a basic and diluted loss per share of HKD 0.79 for the six months ended June 30, 2023, compared to earnings of HKD 5.54 in the same period of 2022[7] - The company’s total profit for the six months ended June 30, 2023, was HKD 4,009 thousand, a significant decrease of 89.4% from HKD 37,687 thousand in the prior year[42] - The company incurred a foreign exchange loss of HKD 22,955,000 during the period, contributing to the overall comprehensive expenses totaling HKD 26,739,000[13] - The financial costs for the six months ended June 30, 2023, amounted to HKD 19,766,000, an increase of 13% from HKD 17,504,000 in the same period of 2022[52] - The total income tax expense for the six months ended June 30, 2023, was HKD 5,410,000, down from HKD 11,778,000 in the same period of 2022, reflecting a decrease of 54%[53] Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 1,161,791, a decrease from HKD 1,257,472 as of December 31, 2022[9] - Current liabilities decreased to HKD 749,795 as of June 30, 2023, from HKD 842,082 at the end of 2022[10] - The company’s total non-current assets (excluding financial instruments) as of June 30, 2023, were HKD 1,609,807 thousand, down from HKD 1,737,849 thousand as of December 31, 2022[46] - The company’s total liabilities decreased from HKD 722,358,000 as of December 31, 2022, to HKD 695,619,000 as of June 30, 2023, indicating a reduction in financial obligations[13] - The total equity as of June 30, 2023, was HKD 743,249, down from HKD 769,988 at the end of 2022[10] - As of June 30, 2023, the total equity attributable to the company's owners was HKD 743,249,000, a decrease from HKD 815,812,000 as of June 30, 2022, representing a decline of approximately 8.8%[13] Revenue Breakdown - Automotive sales revenue for the six months ended June 30, 2023, was HKD 709,707 thousand, down 14.7% from HKD 831,856 thousand in 2022[30] - Revenue from automotive services and sales of auto parts increased to HKD 293,230 thousand for the six months ended June 30, 2023, up 5.5% from HKD 279,145 thousand in 2022[30] - Other income for the six months ended June 30, 2023, totaled HKD 44,170 thousand, significantly higher than HKD 27,908 thousand in 2022, representing a 58.2% increase[33] - The company reported a total of HKD 1,007,299 thousand in revenue from mainland China for the six months ended June 30, 2023, down from HKD 1,115,647 thousand in 2022, a decrease of 9.7%[32] - The company’s revenue from corporate clients for the six months ended June 30, 2023, was HKD 189,499 thousand, down from HKD 201,879 thousand in 2022[32] Operational Insights - The company plans to continue focusing on the automotive sales and related services sector, which remains its primary business area[17] - The company is actively managing its financing activities, with new borrowings of HKD 432,842,000 and repayments of HKD 482,459,000 during the reporting period[15] - The company reported a decrease in cash and cash equivalents to HKD 60,684,000 as of June 30, 2023, down from HKD 101,600,000 at the end of June 2022, a decline of approximately 40.4%[15] - The company made non-current asset additions (excluding financial instruments) of HKD 10,968 thousand for the automotive sales and services business during the six months ended June 30, 2023[36] - The company purchased property, plant, and equipment at a total cost of approximately HKD 14,882,000 for the six months ended June 30, 2023, a decrease of 78% from HKD 67,664,000 in the same period of 2022[60] Employee and Governance - The company had a total of 752 employees as of June 30, 2023, down from 799 as of December 31, 2022, due to cost control measures[115] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2023, consistent with the previous year[120] - The company has adopted a code of conduct for securities trading, ensuring compliance with GEM listing rules[136] - The audit committee, established on June 5, 2002, is responsible for reviewing financial reports and internal controls[138] - The company has complied with corporate governance codes as per GEM listing rules during the reporting period[137]
G.A.控股(08126) - 2023 - 中期财报