Revenue and Profitability - Revenue decreased from approximately HKD 114.4 million for the six months ended June 30, 2022, to approximately HKD 93.1 million for the six months ended June 30, 2023, a decline of about 22.9%[18]. - Gross profit decreased from approximately HKD 12.3 million for the six months ended June 30, 2022, to approximately HKD 7.9 million for the six months ended June 30, 2023, with a gross profit margin decline from about 10.8% to 8.5%[20]. - The group reported a loss of approximately HKD 15.1 million for the six months ended June 30, 2023, an increase of about HKD 11.5 million compared to the same period last year[27]. - The net loss for the six months ended June 30, 2023, was HKD 15,032 thousand, compared to a net loss of HKD 3,561 thousand for the same period in 2022, reflecting a significant increase in losses[64]. - For the six months ended June 30, 2023, the total loss and comprehensive expenses amounted to HKD 43,555,000, compared to a loss of HKD 7,447,000 for the same period in 2022, indicating a significant increase in losses[74]. Project and Contract Activity - The number of projects undertaken by the group decreased from 104 projects as of June 30, 2022, to 82 projects as of June 30, 2023[10]. - The group secured 40 new projects with a total contract value of approximately HKD 59.2 million during the six months ended June 30, 2023[10]. - The total contract revenue for the six months ended June 30, 2023, was HKD 93,114,000, down from HKD 114,389,000 in the same period of 2022, representing a decline of approximately 18.6%[91]. - The total revenue from RMAA projects for the six months ended June 30, 2023, was HKD 85,054,000, down from HKD 90,731,000 in the same period of 2022, reflecting a decrease of approximately 6.5%[91]. Financial Position and Assets - As of June 30, 2023, total assets were HKD 126,811 thousand, down from HKD 154,557 thousand as of December 31, 2022, representing a decrease of approximately 18.0%[68]. - The company's cash and cash equivalents decreased to HKD 4,392 thousand as of June 30, 2023, from HKD 10,869 thousand as of December 31, 2022, a decline of about 59.6%[68]. - The company's total equity as of June 30, 2023, was HKD 56,760 thousand, down from HKD 71,792 thousand as of December 31, 2022, indicating a decrease of approximately 20.9%[70]. - Trade receivables as of June 30, 2023, amounted to HKD 35,215,000, an increase from HKD 34,836,000 as of December 31, 2022[121]. - Contract assets as of June 30, 2023, were HKD 60,151,000, down from HKD 91,647,000 as of December 31, 2022, while contract liabilities decreased to HKD 59,279,000 from HKD 90,560,000[122]. Cost Management and Expenses - Administrative expenses decreased by approximately HKD 2.8 million or 20.2%, from approximately HKD 16.6 million for the six months ended June 30, 2022, to approximately HKD 13.8 million for the six months ended June 30, 2023[21]. - Employee costs, including directors' remuneration, were approximately HKD 18.6 million for the six months ended June 30, 2023, compared to HKD 21.6 million in the previous year[44]. - Employee costs for the six months ended June 30, 2023, were HKD 17,800,000, down from HKD 20,863,000 in the same period of 2022, reflecting a decrease of 14.8%[97]. - The total liabilities under trade payables and other payables decreased from HKD 55,806,000 to HKD 39,414,000, a reduction of approximately 29.5%[128]. Strategic Initiatives and Future Outlook - The group is actively seeking opportunities to expand its business outside of Hong Kong[16]. - The overall demand for RMAA and new construction services is showing an upward trend as of June 30, 2023[10]. - The group aims to leverage its market reputation and experienced management team to maintain competitiveness amid industry challenges[17]. - The group plans to continue strengthening cost control and resource management to sustain market competitiveness[17]. Shareholder and Corporate Governance - The company did not declare an interim dividend for the six months ended June 30, 2023[57]. - The company has established an audit committee to oversee the integrity of financial reporting and compliance with applicable standards[61]. - The company has not granted any share options during the relevant period and had no unexercised share options as of June 30, 2023[59]. - The company’s name change to Allurefem Holding Limited was approved on August 4, 2023, indicating a strategic rebranding effort[140]. Acquisition and Investment Activities - The company agreed to acquire 100% of the issued share capital of Treasure Mark Global Limited for a total consideration of HKD 24.0 million[150]. - The payment structure for the acquisition includes HKD 18.5 million through the issuance of 185,000,000 ordinary shares at an issue price of HKD 0.10 per share, and the remaining HKD 5.5 million to be paid in cash[150].
圣唐控股(08305) - 2023 - 中期财报