Financial Performance - For the six months ended December 31, 2023, the group reported a non-operating loss of $2.7 million related to non-recurring expenses associated with the proposed sale disclosed in the announcement[16]. - The effective tax rate for continuing operations was 31.0% for the six months ended December 31, 2023, compared to (86.0)% for the same period in 2022, due to recorded losses for tax purposes and a decrease in tax liabilities[17]. - The company reported a pre-tax loss of $6,326,000 for the six months ended December 31, 2023, compared to a loss of $4,047,000 for the same period in 2022[116]. - Revenue for the six months ended December 31, 2023, was $21,804 million, a slight decrease of 0.4% compared to $22,181 million for the same period in 2022[150]. - Gross profit for the same period was $19,337 million, down from $19,789 million, reflecting a decrease of 2.3%[150]. - Net loss for the six months ended December 31, 2023, was $5,583 million, an increase of 32.5% from a net loss of $4,214 million in the prior year[152]. - Adjusted EBITDA for the six months was $1,800 million, an increase of 16.3% from $1,548 million in the same period last year[152]. Cash Flow and Liquidity - The company’s cash and cash equivalents decreased to $4.395 million as of December 31, 2023, from $12.758 million as of June 30, 2023[55]. - The company’s operating cash flow for the six months ended December 31, 2023, was $(1,659,000), a decrease from $620,000 in the prior year[116]. - Cash and cash equivalents as of December 31, 2023, were $16.2 million, against current liabilities of $31.4 million due within the next twelve months[169]. - The cash flow for the six months ending December 31, 2023, showed a decrease of $1,034 thousand[124]. - The current ratio declined from 0.5 on June 30, 2023, to 0.4 on December 31, 2023, mainly due to loan repayments and marketing costs related to the commercialization of its medical qualification certification business[193]. Debt and Equity - The total borrowings as of December 31, 2023, were $23.418 million, slightly down from $24.018 million as of June 30, 2023[59]. - The company's total equity as of December 31, 2023, was $(9,379) thousand, compared to $(4,084) thousand as of June 30, 2023, indicating a significant decline in equity[94]. - The debt-to-equity ratio as of December 31, 2023, was (249.7)%, worsening from (588.1)% as of June 30, 2023[94]. - The debt-to-equity ratio improved from -588.1% on June 30, 2023, to -249.7% on December 31, 2023, primarily due to loan repayments during the reporting period[194]. Expenses - The group incurred depreciation expenses of $1.1 million for the six months ended December 31, 2023, compared to $1.3 million for the same period in 2022[20]. - The group recognized amortization expenses of $3.0 million for the six months ended December 31, 2023, down from $3.1 million for the same period in 2022[22]. - Interest expenses increased to $1,322,000 for the six months ended December 31, 2023, compared to $967,000 for the same period in 2022[116]. - The company anticipates a significant reduction in operating expenses related to technology development over the next twelve months[159]. Shareholder Information - There were no dividends declared or paid for the six months ended December 31, 2023, and the same period in 2022[19]. - The company has granted a total of 5,000,000 share options under the pre-IPO share option plan as of December 31, 2023[32]. - The company reported a total of 590,188 share awards granted under the restricted share award plan as of December 31, 2023[39]. - The board does not recommend the payment of an interim dividend for the six months ending December 31, 2023[177]. Operational Highlights - The group achieved a high gross profit margin of 88.7% for the six months ending December 31, 2023, indicating that the actual cost of services provided will be significantly lower than the contract liabilities[147]. - The number of paid members as of December 31, 2023, was 125,581, a decrease of 0.8% compared to December 31, 2022, while the number of UK members increased by 5.0%[144]. - The group has 9,731 registered medical facilities as of December 31, 2023, a decrease of 2.0% from December 31, 2022[144]. - The group is focused on digital transformation in healthcare systems, particularly in supplier and medical credentialing areas, despite global economic slowdowns due to tightening monetary policies[143]. Governance and Compliance - The company has adopted a strict code of conduct for securities trading, ensuring compliance among all directors and employees[85]. - The company encourages all directors to participate in relevant training courses, with costs covered by the company[122]. - The board of directors is responsible for reviewing the composition of the board and overseeing the appointment and re-election of directors[129]. - The company has a restricted share award plan approved on June 7, 2022, for incentivizing key personnel[128].
中智全球(06819) - 2024 - 中期财报