Financial Performance - For the six months ended September 30, 2023, the revenue was approximately HKD 65,849,000, a decrease of about 0.4% compared to the same period last year[6]. - The net loss attributable to equity holders for the six months ended September 30, 2023, was approximately HKD 935,000, compared to a net loss of approximately HKD 1,365,000 in the same period last year[6]. - The operating loss for the six months ended September 30, 2023, was HKD 812,000, an improvement from an operating loss of HKD 1,050,000 in the previous year[8]. - The gross profit for the six months ended September 30, 2023, was HKD 4,718,000, down from HKD 6,537,000 in the same period last year[8]. - The company’s basic and diluted loss per share for the six months ended September 30, 2023, was HKD 0.29, compared to HKD 0.42 in the same period last year[8]. - The reported profit before tax for the six months ended September 30, 2023, was a loss of HKD 935,000, compared to a loss of HKD 1,365,000 in the same period of 2022[27]. - The company’s total comprehensive loss for the six months ended April 1, 2023, was HKD 935,000, reflecting ongoing challenges[13]. - For the six months ended September 30, 2023, the company reported a loss attributable to equity holders of approximately HKD 935,000, an improvement from a loss of HKD 1,365,000 in the same period of 2022[33]. Cash Flow and Assets - Cash and cash equivalents decreased to HKD 22,025,000 as of September 30, 2023, from HKD 24,108,000 at the end of the previous period[11]. - The company reported a net cash outflow from operating activities of HKD 1,579,000 for the six months ended September 30, 2023, compared to a net cash inflow of HKD 3,558,000 in the previous year[11]. - The company generated a net cash inflow from investing activities of HKD 217,000 for the six months ended September 30, 2023, compared to a net cash outflow of HKD 19,554,000 in the previous year[11]. - As of September 30, 2023, the total amount of cash and bank deposits was approximately HKD 86,252,000[61]. - As of September 30, 2023, the group's net current assets amounted to approximately HKD 83,887,000, with cash and bank deposits totaling about HKD 86,252,000[63]. - The total assets less current liabilities as of September 30, 2023, were HKD 86,511,000, compared to HKD 87,345,000 as of March 31, 2023[9]. Equity and Liabilities - The company’s total equity attributable to equity holders was HKD 81,455,000 as of September 30, 2023, down from HKD 82,387,000 as of March 31, 2023[9]. - The total equity attributable to the company's equity holders decreased from HKD 94,454,000 on April 1, 2022, to HKD 81,455,000 on September 30, 2023[13]. - The company’s total liabilities and equity as of September 30, 2023, were reported at HKD 81,455,000, down from HKD 94,454,000 on April 1, 2022[13]. - The total borrowings of the group as of September 30, 2023, were approximately HKD 3,487,000, resulting in a capital debt ratio that is not applicable due to negative net debt[63]. - There were no significant contingent liabilities reported as of September 30, 2023[64]. Revenue Breakdown - The total revenue for the six months ended September 30, 2023, was HKD 67,523,000, a slight increase from HKD 66,830,000 in the same period of 2022[24]. - Revenue from the rail transit business for the six months ended September 30, 2023, was approximately HKD 34,568,000, representing a 21% increase from HKD 28,668,000 in the same period of 2022[48]. - CRM business revenue decreased by approximately 16% to HKD 31,281,000 for the six months ended September 30, 2023, compared to the same period in 2022[48]. Expenses - Sales expenses for the period were approximately HKD 5,066,000, an increase of about 2.3% compared to HKD 4,951,000 in the same period last year[49]. - Administrative expenses were approximately HKD 6,091,000, an increase of about HKD 1,861,000 from approximately HKD 4,230,000 in the same period last year, primarily due to bad debt provisions of about HKD 1,329,000[51]. - Employee costs, including director remuneration, were approximately HKD 10,688,000 for the six months ended September 30, 2023, compared to approximately HKD 9,653,000 in 2022[62]. Shareholder Information - The major shareholder, Li Jiancheng, holds 164,877,714 ordinary shares, representing 50.52% of the company[65]. - Li Jiancheng also controls an additional 25,465,320 shares through a related corporation, accounting for 7.80%[65]. - The total personal interest of major shareholder Guo Jinghua includes 38,749,356 shares, representing 11.87%[69]. Corporate Governance - The company has adopted a set of guidelines for securities trading that comply with GEM Listing Rules, confirming adherence by all directors during the review period[72]. - Throughout the review period, the company has applied and complied with the principles and provisions of the corporate governance code as per GEM Listing Rules Appendix 15[73]. - The audit committee has been established and complies with GEM listing rules, consisting of three independent non-executive directors[77]. - The audit committee reviewed the unaudited performance for the six months ending September 30, 2023, and confirmed that the results were prepared in accordance with applicable accounting standards and regulations[77]. - The internal control and risk management systems were deemed effective and adequate by the audit committee[77]. Strategic Initiatives - The company is actively exploring new service areas to adapt to the diversified new economic model and enhance CRM service offerings[46]. - The company is focused on delivering system products to multiple vehicle manufacturing enterprises under China CRRC Group, with significant projects including the Wuhan Metro lines and the Istanbul Airport line[43]. - The overall economic environment in China showed a GDP growth of 5.2% year-on-year, reaching CNY 13 trillion, which supports the company's operational outlook[43]. - The company is implementing local production strategies in response to government requirements for the Istanbul Airport project, enhancing its operational capabilities[45]. - The company has decided to suspend further development of the CA-SIM product for 5G network compatibility due to technical challenges and high additional costs[57]. - The company is actively discussing opportunities for "smart city" projects and pilot collaborations with relevant government departments in several overseas countries[57]. Workforce - The company has reduced its workforce to 175 employees as of September 30, 2023, down from 189 employees in 2022[62].
国联通信(08060) - 2024 - 中期财报