Financial Performance - For the six months ended June 30, 2022, the total revenue of Kinetix Systems Holdings Limited was approximately HKD 141.3 million, an increase of about 25.7% compared to the same period in 2021[9]. - The gross profit for the same period was approximately HKD 23.6 million, representing a 22.4% increase year-over-year[10]. - The company recorded a net loss of approximately HKD 14.8 million for the six months ended June 30, 2022, compared to a net loss of approximately HKD 10.0 million for the same period in 2021[10]. - Total revenue for the six months ended June 30, 2022, reached HKD 141,317,000, a 25.7% increase from HKD 112,385,000 in the same period of 2021[35]. - The company reported a basic and diluted loss per share of HKD 1.42 for the six months ended June 30, 2022, compared to HKD 1.11 for the same period in 2021[13]. - The company reported a pre-tax loss of HKD 18,410,000 for the three months ended June 30, 2022, compared to a profit of HKD 27,702,000 for the same period in 2021[44]. - The company recorded a loss of approximately HKD 14.8 million for the first half of 2022, compared to a loss of HKD 10 million in the same period of 2021, primarily due to increased sales and administrative expenses[88]. Revenue Breakdown - Revenue from IT infrastructure solutions services for the six months ended June 30, 2022, was HKD 47,286,000, up 22.8% from HKD 38,507,000 for the same period in 2021[35]. - Revenue from IT maintenance and support services increased to HKD 32,306,000 for the six months ended June 30, 2022, compared to HKD 16,160,000 in the previous year, marking a growth of 100.5%[35]. - Revenue from the Hong Kong market for the six months ended June 30, 2022, was HKD 138,566,000, an increase of 25% from HKD 110,852,000 in the same period of 2021[32]. - Revenue from external customers for the six months ended June 30, 2022, was HKD 141,317,000, with a breakdown of HKD 47,286,000 from IT solutions, HKD 60,840,000 from IT development services, and HKD 32,306,000 from maintenance and support services[40]. - Revenue from the IT development solutions segment increased by approximately 28.2% from about HKD 47.4 million in the 2021 interim period to about HKD 60.8 million in the 2022 interim period, accounting for approximately 43.0% of total revenue[71]. - The IT maintenance and support services segment generated revenue of approximately HKD 32.3 million, a 100% increase from HKD 16.2 million in the previous year, accounting for about 22.9% of total revenue[76]. Assets and Liabilities - As of June 30, 2022, total assets amounted to approximately HKD 233.9 million, a decrease from HKD 241.7 million as of December 31, 2021[18]. - The company’s non-current assets totaled approximately HKD 80.4 million as of June 30, 2022, compared to HKD 81.5 million at the end of 2021[18]. - Total equity as of June 30, 2022, is HKD 114,823,000, a decrease of 11.4% from HKD 129,603,000 as of December 31, 2021[21]. - Total liabilities increased to HKD 119,049,000 as of June 30, 2022, compared to HKD 112,100,000 as of December 31, 2021, representing a rise of 6.5%[21]. - Trade receivables as of June 30, 2022, amounted to HKD 75.5 million, a decrease from HKD 85.1 million as of December 31, 2021[58]. - Trade payables as of June 30, 2022, were HKD 27.5 million, down from HKD 39.0 million as of December 31, 2021[61]. Cash Flow and Financing - The company reported a net cash outflow from financing activities of HKD 8,828,000 for the six months ended June 30, 2022, compared to an outflow of HKD 6,212,000 in the previous year[24]. - Cash and cash equivalents decreased by HKD 3,208,000 to HKD 27,419,000 as of June 30, 2022, from HKD 25,720,000 as of June 30, 2021[24]. - As of June 30, 2022, the company had cash and cash equivalents of approximately HKD 27.4 million, down from HKD 30 million at the end of 2021, with a debt ratio of 30.2%[89]. - The group incurred sales and administrative expenses increase of approximately HKD 7.9 million, primarily due to increased salary expenses from a rise in the number of sales and general staff[70]. Corporate Governance and Management - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2022, consistent with the previous year[52]. - The company has adopted a code of conduct for directors' securities trading, ensuring compliance throughout the reporting period[119]. - The company believes that the risk of legal actions against directors is relatively low due to effective risk management and internal control systems[122]. - The company has complied with the corporate governance code, with a noted deviation regarding the roles of the chairman and CEO being held by the same individual[121]. - The audit committee was established on June 22, 2018, in accordance with GEM listing rules[127]. - The audit committee reviewed the unaudited financial statements for the six months ending June 30, 2022, and found them compliant with applicable accounting standards and regulations[127]. Employee and Compensation - As of June 30, 2022, the total employee cost was approximately HKD 39.6 million, an increase from HKD 29 million in the same period of 2021, reflecting a growth of about 36.2%[94]. - The company had a total of 172 employees as of June 30, 2022, compared to 136 employees as of June 30, 2021, indicating an increase of approximately 26.5%[94]. - Total compensation for key management personnel for the six months ended June 30, 2022, amounted to HKD 1,458,000, down from HKD 2,195,000 in the previous year[48]. Future Outlook - The company plans to continue exploring new business opportunities and enhancing competitiveness, particularly in IT infrastructure and development solutions[81]. - The company anticipates further strengthening its liquidity through cash generated from operations and funds raised from its listing on the GEM[89].
倢冠控股(08606) - 2022 - 中期财报