Financial Performance - The company's revenue for the six months ended December 31, 2023, was HKD 102,855,000, a decrease of 46.8% compared to HKD 192,786,000 for the same period in 2022[2]. - The gross profit for the reporting period was HKD 1,647,598, resulting in a gross margin of approximately 1.6%[2]. - The operating loss for the six months was HKD 22,097,000, compared to an operating loss of HKD 22,136,000 in the previous year[2]. - The total comprehensive loss for the period was HKD 18,755,000, slightly higher than the loss of HKD 18,492,000 in the same period last year[3]. - The loss attributable to equity holders of the company was HKD 20,724,000, compared to HKD 14,321,000 in the previous year, indicating a significant increase in losses[3]. - Basic and diluted loss per share for the period was HKD 3.86, compared to HKD 2.67 in the previous year[3]. - For the six months ended December 31, 2023, the company reported a pre-tax loss of HKD 20,724,000, compared to a pre-tax loss of HKD 14,321,000 for the same period in 2022, representing a 45.5% increase in losses[19]. - The company reported a net loss of HKD 20,722,000 for the six months ended December 31, 2023, compared to a net loss of HKD 14,313,000 for the same period in 2022[28]. Assets and Liabilities - Total assets as of December 31, 2023, amounted to HKD 229,614,000, an increase from HKD 207,094,000 as of June 30, 2023[4]. - Current liabilities increased to HKD 88,262,000 from HKD 40,114,000 as of June 30, 2023, indicating a significant rise in short-term obligations[6]. - The company's non-current assets decreased from HKD 51,469,000 to HKD 40,310,000, reflecting a reduction in long-term investments[4]. - The total comprehensive assets as of December 31, 2023, amounted to HKD 229,614,000, while total comprehensive liabilities were HKD 105,673,000[30]. - The company's trade receivables as of December 31, 2023, amounted to HKD 74,550,000, a significant increase from HKD 24,476,000 as of June 30, 2023[20]. - The total liabilities related to trade payables increased to HKD 52,133,000 as of December 31, 2023, compared to HKD 13,335,000 as of June 30, 2023[23]. - The company had cash and cash equivalents of HKD 38,502,000 as of December 31, 2023, down from HKD 52,492,000 as of June 30, 2023[37]. - The cash and bank balance as of December 31, 2023, was approximately HKD 55.94 million, down from HKD 89.08 million as of June 30, 2023[47]. - The company's total liabilities included HKD 64,817,000 in classified liabilities as of December 31, 2023[30]. Revenue Breakdown - The party products trading segment generated revenue of HKD 27,444,000, down from HKD 93,639,000, reflecting a decline of 70.7%[27]. - The commodity trading segment reported revenue of HKD 75,411,000, a decrease of 24.0% from HKD 99,147,000 in the previous year[27]. - Revenue from customers in Mainland China was HKD 76,060,000, down from HKD 180,247,000 in the previous year, indicating a decline of 57.8%[32]. - The group's revenue for the second half of 2023 was approximately HKD 102.86 million, a decrease of about 46.65% compared to HKD 192.79 million in the same period last year[42]. - Revenue from party product trading was approximately HKD 27.44 million, down 70.70% from HKD 93.64 million in the previous year, primarily due to increased market supply and price competition post-pandemic[43]. Expenses and Management - The company reported a total depreciation expense of HKD 9,880,000 for the six months ended December 31, 2023, compared to HKD 3,658,000 in the previous year, reflecting a 170.5% increase[15]. - The group's operating expenses decreased by 0.18% to HKD 22.1 million during the reporting period[42]. - The company’s management compensation for the six months ended December 31, 2023, was HKD 2,901,000, an increase from HKD 1,548,000 in the previous year[38]. Corporate Governance and Future Plans - The company continues to operate under the going concern basis, indicating confidence in its ability to sustain operations in the foreseeable future[9]. - The company did not declare an interim dividend for the six months ended December 31, 2023, consistent with the previous year[18]. - The group announced a conditional acquisition of Deep Neural Computing Company Limited to enhance research and application of AI trading technology[49]. - The group aims to explore high-margin products, such as metal silicon used in chip production, to meet changing market demands[45]. - The group is seeking breakthroughs in technology applications in asset management and related financial services, particularly in algorithmic trading and AI trading technology[49]. - The company plans to utilize the proceeds from the share subscription and placement for debt repayment, with specific allocations including HKD 110 million for overdue convertible bonds and HKD 15 million for general working capital[53][54]. - The remaining proceeds from the share subscription are expected to be utilized by June 30, 2024[54]. - The company has complied with the corporate governance code, although there was a temporary absence of a CEO until July 25, 2023, when the CFO was appointed as CEO[59]. - The company is in the process of selecting a suitable candidate to fill the vacant chairman position following the resignation of the previous chairman on July 25, 2023[59]. Employment and Compliance - The company has a total of 35 employees as of December 31, 2023, down from 36 employees as of June 30, 2023[57]. - The company has not entered into any forward foreign exchange contracts to manage foreign currency risks, as management believes these risks are controllable[56]. - The company did not incur any taxable profits during the reporting period, resulting in no provision for Hong Kong profits tax[16]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[58]. - The company’s audit committee reviewed the interim results and financial statements for the reporting period[61]. - There were no significant mergers, acquisitions, or disposals of subsidiaries during the reporting period[54].
INTL GENIUS(00033) - 2024 - 中期业绩