Financial Performance - For the six months ended June 30, 2023, the company's revenue was approximately HKD 27.3 million, a decrease of about 57.9% compared to HKD 64.8 million in the same period of 2022[10]. - The gross profit for the same period was approximately HKD 5.9 million, down about 16.7% from HKD 7.0 million in 2022, with a gross margin increase from 10.9% to 21.6%[10]. - The company recorded an adjusted EBITDA of approximately -HKD 12.0 million for the six months ended June 30, 2023, compared to -HKD 3.7 million in the same period of 2022[10]. - The company reported a loss attributable to owners of approximately HKD 12.3 million for the six months ended June 30, 2023, compared to a loss of HKD 5.0 million in the same period of 2022[10]. - The company reported a net loss attributable to owners of the company of HKD 12,322,000 for the six months ended June 30, 2023, compared to HKD 5,023,000 in the same period of 2022[28]. - The net loss for the six months ended June 30, 2023, was HKD 13,207,000, an increase of 123.4% from HKD 5,920,000 in the same period of 2022[28]. - The total comprehensive expenses for the period amounted to HKD 12,879,000, which includes a loss of HKD 12,322,000[32]. Revenue Breakdown - The average revenue per project decreased by approximately 52.9% to about HKD 1.0 million in 2023 from HKD 2.1 million in 2022[9]. - The number of projects completed and in progress decreased by 16.0% to 26 projects in 2023 from 31 projects in 2022[8]. - Revenue from residential projects increased by 100.0%, rising from HKD 2.3 million in 2022 to HKD 4.6 million in 2023[8]. - Revenue for the three months ended June 30, 2023, was HKD 16,865,000, a decrease of 56.3% compared to HKD 38,606,000 in the same period of 2022[28]. - Revenue from design and renovation services for the six months was HKD 25,618,000, a decline of 60.2% from HKD 64,328,000 in 2022[45]. - The top five customers accounted for approximately 56.97% of total revenue for the six months ended June 30, 2023, compared to 76% in 2022[49]. Operating Expenses - Total operating expenses increased to approximately HKD 20.4 million in 2023 from HKD 12.0 million in 2022, primarily due to increased employee benefits and advertising costs[10]. - Total operating expenses for the six months ended June 30, 2023, were HKD 7,232,000, significantly higher than HKD 3,547,000 in 2022[56]. - The total employee cost for the six months ended June 30, 2023, was approximately HKD 13.1 million, compared to HKD 8.5 million for the same period in 2022[25]. Financial Position - As of June 30, 2023, the group had cash and cash equivalents of approximately HKD 10.8 million, down from HKD 12.2 million as of December 31, 2022[12]. - The current ratio as of June 30, 2023, was approximately 0.8, compared to 0.9 as of December 31, 2022[12]. - Total liabilities as of June 30, 2023, were approximately HKD 77.1 million, an increase from HKD 70.3 million as of December 31, 2022[12]. - The debt-to-asset ratio increased to 36.0% as of June 30, 2023, from 30.2% as of December 31, 2022, primarily due to an increase in the face value of promissory notes and convertible bonds[12]. - The company's equity attributable to owners decreased to HKD 3,488,000 as of June 30, 2023, from HKD 8,951,000 as of December 31, 2022[31]. Investments and Acquisitions - The company is expanding into the financial services and catering industries to diversify its revenue sources[4]. - On March 21, 2023, the group completed the acquisition of a 34% stake in Shun Yu Asset Management Limited for a total consideration of HKD 500,000[22]. - The goodwill generated from the acquisition of Shunyu Asset Management amounts to HKD 184,000, providing opportunities to expand the company's position in the financial services sector[94]. - The company sold its 100% stake in Transcend Global Asset Management for a total cash consideration of approximately HKD 639,000 on March 13, 2023[96]. Shareholder and Stock Information - The company has a total of 360,274,000 ordinary shares issued and paid up as of June 30, 2023, with a share premium of HKD 134,917,000[81]. - Major shareholder Lui Yu Kin owns 72,252,000 shares, accounting for 20.05% of the company's issued shares as of June 30, 2023[112]. - The company has granted stock options to employees and others, with a total of 22,116,000 options issued during the reporting period[86]. - The company has approximately 22,877,000 unexercised stock options as of June 30, 2023, representing about 6.35% of the total issued shares[88]. Corporate Governance - The board did not declare any interim dividend for the six months ended June 30, 2023, consistent with the previous year[18]. - The board confirmed compliance with all corporate governance codes as per GEM Listing Rules Appendix 15 during the six months ended June 30, 2023[116]. - The company established an audit committee on June 15, 2016, consisting of three independent non-executive directors to oversee financial reporting and internal controls[120].
简朴新生活(08360) - 2023 - 中期财报