Financial Performance - The company recorded revenue of approximately HKD 102.86 million for the reporting period, a decrease of about 46.65% compared to HKD 192.79 million in the same period last year[6]. - Revenue from party product trading was approximately HKD 27.44 million, down 70.70% from HKD 93.64 million in the previous year[7]. - The company reported a net loss of approximately HKD 20.72 million, compared to a net loss of HKD 14.31 million in the same period last year[6]. - Revenue from commodity trading was approximately HKD 75.41 million, a decrease of 23.94% from HKD 99.15 million in the previous year[9]. - Gross profit for the same period was HKD 1,647,000, down 65.8% from HKD 4,817,000 in 2022[37]. - Operating loss increased to HKD 19,852,000, compared to an operating loss of HKD 13,855,000 in the previous year, reflecting a deterioration of 43.1%[37]. - Loss before tax for the period was HKD 20,722,000, compared to a loss of HKD 14,146,000 in 2022, representing a 46.5% increase in losses[37]. - The company reported a total comprehensive loss of HKD 18,755,000 for the period, compared to a loss of HKD 18,492,000 in the previous year[38]. - Basic and diluted loss per share for the period was HKD 3.86, compared to HKD 2.67 in the same period last year, reflecting a 44.5% increase in loss per share[38]. - Total 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 in 2022[65]. - The party product trading segment generated revenue of HKD 27,444,000, down 70.7% from HKD 93,639,000 in the previous year[65]. - The commodity trading segment reported revenue of HKD 75,411,000, a decrease of 23.9% from HKD 99,147,000 in 2022[65]. Assets and Liabilities - As of December 31, 2023, the group's net current assets were approximately HKD 101.04 million, down from HKD 115.51 million as of June 30, 2023[15]. - The group's total assets less current liabilities amounted to approximately HKD 141.35 million, a decrease from HKD 166.98 million as of June 30, 2023[15]. - The current ratio as of December 31, 2023, was 2.14, compared to 3.88 as of June 30, 2023[15]. - The group had cash and bank balances of approximately HKD 55.94 million as of December 31, 2023, down from HKD 89.08 million as of June 30, 2023[15]. - The 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[39]. - Total liabilities increased to HKD 105,673,000 as of December 31, 2023, compared to HKD 64,398,000 as of June 30, 2023[67][69]. - The company’s trade payables as of December 31, 2023, were HKD 52,133,000, up from HKD 13,335,000 as of June 30, 2023[62]. - The company’s other receivables increased to HKD 12,496,000 as of December 31, 2023, compared to HKD 10,136,000 as of June 30, 2023[58]. - The company’s impairment losses for other receivables and deposits were approximately HKD 71,654,000 as of December 31, 2023[59]. - The total trade receivables as of December 31, 2023, amounted to HKD 74,550,000, significantly increasing from HKD 24,476,000 as of June 30, 2023[55]. Operational Updates - The company aims to explore high-margin products, such as metal silicon used in chip production, to meet changing market demands[9]. - The company is actively seeking suitable personnel to restore its suspended licenses for regulated activities under the Securities and Futures Ordinance[8]. - The company continues to implement cost control measures to maintain its existing business operations[6]. - The company has maintained its continuous operation basis, believing it has sufficient resources to continue operating in the foreseeable future[45]. - The company operates in four reportable segments: party products trading, securities brokerage and asset management, commodity trading, and lending business[63]. - The company did not generate any revenue from its securities brokerage and asset management segment during the reporting period[8]. - The company has not granted any loans to customers and did not generate any revenue from its lending business during the reporting period[11]. - The company had no significant mergers, acquisitions, or disposals during the reporting period[21]. - There were no major investments made by the company during the reporting period[22]. - The company did not grant any share options during the reporting period[32]. - There were no unexercised share options under the share option scheme as of December 31, 2023[32]. Management and Governance - The company is in the process of appointing a new chairman following the resignation of Dr. Wu Yu on July 25, 2023, with Mr. Cheung Ka Fai transitioning from CFO to CEO[36]. - The board of directors did not recommend an interim dividend for the six months ended December 31, 2023[53]. - The board approved the unaudited interim consolidated financial statements for the six months ending December 31, 2023, on February 28, 2024[80]. - No significant events affecting the company and its subsidiaries occurred after December 31, 2023, except for the proposed acquisition disclosed in the "Outlook" section[79]. Market and Economic Conditions - The People's Bank of China announced a 50 basis point cut in the reserve requirement ratio effective February 5, 2024, expected to increase credit supply[16]. - The company reported a foreign exchange gain of HKD 326,000 for the six months ended December 31, 2023, compared to a loss of HKD 2,175,000 in the same period of 2022[50]. - The company incurred financing costs of HKD 870,000 related to lease liabilities for the six months ended December 31, 2023, up from HKD 291,000 in the same period of 2022[51]. - The company reported a significant increase in management compensation to HKD 2,874,000 for the six months ended December 31, 2023, compared to HKD 1,543,000 in 2022[76]. - Revenue from mainland China was HKD 76,060,000, down 57.8% from HKD 180,247,000 in the previous year[71].
INTL GENIUS(00033) - 2024 - 中期财报