Financial Performance - Revenue for the six months ended December 31, 2023, was HKD 24,160,000, a decrease of 30.3% compared to HKD 34,565,000 for the same period in 2022[3] - Gross profit for the six months ended December 31, 2023, was HKD 4,812,000, down 15.5% from HKD 5,699,000 in the previous year[3] - Operating loss for the six months ended December 31, 2023, was HKD 2,771,000, compared to a loss of HKD 1,760,000 for the same period in 2022[3] - Net loss attributable to owners of the company for the six months ended December 31, 2023, was HKD 2,883,000, compared to a loss of HKD 2,018,000 in the previous year[3] - Total comprehensive loss for the six months ended December 31, 2023, was HKD 3,311,000, compared to a loss of HKD 1,506,000 for the same period in 2022[4] - The group reported a total segment loss of HKD 886,000 for the six months ended December 31, 2023, compared to a profit of HKD 240,000 in the same period of 2022[20] - The company reported a loss of approximately HKD 2,883,000 for the six months ended December 31, 2023, compared to a loss of HKD 2,018,000 for the same period in 2022, reflecting an increase in losses of about 43%[26] - Total revenue for the same period was approximately HKD 24,160,000, a decrease of about 30.10% from HKD 34,565,000 in the prior year[45] Assets and Liabilities - Current assets as of December 31, 2023, totaled HKD 59,308,000, a slight decrease from HKD 61,120,000 as of June 30, 2023[6] - Current liabilities as of December 31, 2023, were HKD 32,154,000, an increase from HKD 30,952,000 as of June 30, 2023[6] - The company's total assets less current liabilities amounted to HKD 29,718,000 as of December 31, 2023, down from HKD 33,547,000 as of June 30, 2023[6] - The company's equity attributable to owners decreased to HKD 49,436,000 as of December 31, 2023, from HKD 52,696,000 as of June 30, 2023[7] - The group’s total liabilities as of December 31, 2023, were HKD 32,400,000, compared to HKD 31,716,000 as of June 30, 2023[21] - Total liabilities increased to HKD 26,451,000 as of December 31, 2023, compared to HKD 24,351,000 as of June 30, 2023, reflecting an increase of approximately 8.6%[35] Cash Flow - The net cash generated from operating activities for the six months ended December 31, 2023, was HKD 885,000, compared to a net cash used of HKD 1,235,000 in the same period of 2022[11] - The group incurred financing activities net cash outflow of HKD 1,557,000 for the six months ended December 31, 2023, compared to HKD 1,055,000 in the same period of 2022[11] - The cash and cash equivalents at the end of the period were HKD 12,344,000, an increase from HKD 4,191,000 at the end of the same period in 2022[11] Shareholder Information - Major shareholders include Mr. Liu with 149,294,199 shares (18.63%), JL Investments Capital Limited with 141,674,199 shares (17.68%), and Big Good Management Limited with 135,053,384 shares (16.85%)[66] - As of December 31, 2023, Wide Select Investments Limited and Mr. Li each held 126,642,000 shares, representing 15.80% of the issued share capital[66] - The total issued share capital as of December 31, 2023, was 801,535,615 shares[67] Segment Performance - The swimwear and apparel segment generated revenue of approximately HKD 10,534,000, down from HKD 16,534,000, with a gross profit margin of 38.05%, up from 26.91%[45] - The e-commerce and online shopping segment reported revenue of approximately HKD 13,218,000, down from HKD 17,284,000, with a gross profit margin of 3.00%, slightly up from 2.91%[46] - The lending segment generated revenue of approximately HKD 408,000, maintaining a gross profit margin of 100%[48] Corporate Governance - The company has established an audit committee to review annual reports, semi-annual reports, and quarterly reports, ensuring compliance with GEM listing rules[74] - The audit committee consists of three independent non-executive directors and has reviewed the unaudited performance for the six months ending December 31, 2023[74] - The company has adhered to the corporate governance code as per GEM listing rules during the reporting period[76] - A code of conduct for directors' securities trading has been adopted, aligning with GEM listing rules, and all directors complied with the trading standards during the six months ending December 31, 2023[77] Future Outlook - The company plans to continue cost-cutting measures and prepare to seize market recovery opportunities in the swimwear and apparel segment[58] - The company will closely monitor market challenges in the e-commerce segment due to the strong US dollar and declining demand for high-quality second-hand mobile phones[58] - The company aims to maintain and develop its lending business while allocating sufficient resources to meet business demands[58] Stock Options and Dividends - The company did not recommend any dividend for the six months ended December 31, 2023, consistent with the previous year[30] - The company terminated its stock option plan adopted on March 18, 2008, and approved a new stock option plan effective from November 28, 2017, which will remain valid for ten years unless revoked or amended[60] - As of December 31, 2023, there were no unexercised stock options under the plan, consistent with the previous year[61] - There were no stock options granted to directors or major executives that required prior approval from independent non-executive directors[61]
荟萃国际(控股)(08041) - 2024 - 中期财报