Financial Performance - For the six months ended December 31, 2023, the group's revenue was approximately HKD 50,674,000, a decrease of about HKD 15,877,000 or 23.9% compared to the same period last year[12]. - The gross profit for the same period decreased by approximately HKD 24,070,000 or 62.4%, totaling around HKD 14,525,000[12]. - The company reported a loss per share of approximately HKD 1.84 cents for the six months ended December 31, 2023, compared to earnings of HKD 2.90 cents for the same period in 2022[12]. - The net loss attributable to the company's equity holders for the six months was HKD 11,024,000, compared to a profit of HKD 17,375,000 in the same period last year[15]. - The total comprehensive loss for the six months was HKD 10,016,000, compared to a comprehensive income of HKD 19,096,000 in the previous year[15]. - The company reported a loss of HKD 7,172,000 for the six months ended December 31, 2023, compared to a profit of HKD 19,373,000 for the same period in 2022[39]. - The loss before tax for the six months ended December 31, 2023, was HKD 11,607,000, compared to a profit of HKD 16,897,000 for the same period in 2022[39]. - The net loss for the period was approximately HKD 11,019,000 for the six months ended December 31, 2023, compared to a profit of approximately HKD 17,397,000 for the same period in 2022[97]. Revenue Breakdown - Total revenue for the six months ended December 31, 2023, was HKD 50,674,000, a decrease of 23.9% compared to HKD 66,551,000 for the same period in 2022[40]. - Revenue from network support and connectivity services in Malaysia increased to HKD 35,239,000, up from HKD 33,058,000 in the previous year, representing a growth of 6.6%[38]. - Revenue from e-commerce sales decreased significantly to HKD 47,000 for the six months ended December 31, 2023, down from HKD 348,000 in the same period last year[40]. - The company generated HKD 6,215,000 from online game IP licensing management for the six months ended December 31, 2023, consistent with the previous year[40]. - E-commerce business contributed approximately HKD 8,138,000 or 16.1% of total revenue for the six months ended December 31, 2023, down from HKD 32,025,000 or 48.2% in the same period of 2022[72]. Expenses and Costs - The company's administrative and other operating expenses for the six months were HKD 19,465,000, slightly increased from HKD 19,198,000 in the same period last year[13]. - The financing costs for the six months were HKD 230,000, a decrease from HKD 280,000 in the previous year[13]. - Total employee costs, including directors' remuneration, increased to HKD 14,634,000 for the six months ended December 31, 2023, up from HKD 11,771,000 in the same period of 2022, reflecting a rise of 24%[45]. - Sales expenses increased by approximately HKD 2,381,000 or 84.2% to HKD 5,209,000 for the six months ended December 31, 2023, largely due to increased employee costs in the sales team[91]. - Research and development costs for the six months ended December 31, 2023, amounted to HKD 4,962,000, an increase of 70% from HKD 2,909,000 in the same period of 2022[45]. Assets and Liabilities - As of December 31, 2023, the total assets minus current liabilities amounted to HKD 71,461,000, a decrease from HKD 90,827,000 as of June 30, 2023, representing a decline of approximately 21%[17]. - The total equity attributable to equity holders of the company as of December 31, 2023, was HKD 63,891,000, down from HKD 73,916,000 as of June 30, 2023, reflecting a decrease of approximately 13.6%[18]. - The company's non-current assets decreased to HKD 41,380,000 as of December 31, 2023, from HKD 45,283,000 as of June 30, 2023, indicating a reduction of about 8.5%[17]. - The company's total liabilities decreased to HKD 7,204,000 as of December 31, 2023, from HKD 16,554,000 as of June 30, 2023, indicating a reduction of about 56.5%[18]. - As of December 31, 2023, total trade receivables amounted to HKD 28,667,000, a decrease of 4.8% from HKD 30,115,000 as of June 30, 2023[57]. Cash Flow and Liquidity - The net cash used in operating activities for the six months ended December 31, 2023, was HKD 6,103,000, compared to HKD 8,372,000 for the same period in 2022, indicating an improvement of about 27%[23]. - The company reported a net cash decrease of HKD 12,121,000 for the six months ended December 31, 2023, compared to a decrease of HKD 12,023,000 in the same period of 2022, showing a slight increase in cash outflow[25]. - As of December 31, 2023, the group had cash and bank balances of approximately HKD 9,027,000, a decrease from HKD 22,000,000 as of June 30, 2023[98]. - Current assets and current liabilities were approximately HKD 76,250,000 and HKD 41,169,000 respectively, resulting in a current ratio of approximately 1.9 times, down from 2.5 times as of June 30, 2023[99]. Strategic Initiatives - The company has initiated a new business in network game IP licensing management services starting November 2023, aiming to capitalize on the stable development of its e-commerce business[68]. - A strategic cooperation memorandum was established with Roma Group Limited to leverage competitive advantages and resources for technology development in the virtual asset industry[69]. - The company plans to change its name to "Byte Metaverse Holdings Limited," which has been approved by shareholders[63]. - The group plans to apply for a license to operate a virtual asset trading platform through its subsidiary, Bitcoin World Custodian, which has received a trust or company service provider license[82]. - The company plans to continue investing in blockchain technology and virtual assets, recognizing their potential to disrupt existing financial and technology industries[79]. Corporate Governance - The company has adopted and complied with the corporate governance code as per GEM Listing Rules for the six months ending December 31, 2023[168]. - The audit committee reviewed the unaudited condensed consolidated interim financial results for the six months ending December 31, 2023, and confirmed compliance with applicable accounting standards and GEM Listing Rules[167]. - The board consists of an executive director, a non-executive director, and three independent non-executive directors, ensuring a balance of power and authority[174]. - The company has established a mechanism for appropriate checks and balances through the board and independent non-executive directors[168]. - The company acknowledges the contributions and dedication of all employees, which are vital for its continued success[174].
比特元宇宙(08645) - 2024 - 中期财报