Financial Performance - For the six months ended June 30, 2023, the company reported interest income from financial lending business of HKD 93,546,000, an increase of 32.1% from HKD 70,804,000 in the same period last year[8]. - The company's operating profit for the period was HKD 20,062,000, slightly up by 1.6% from HKD 19,754,000 in the previous year[8]. - The net profit for the period was HKD 13,608,000, an increase of 18.6% compared to HKD 11,464,000 in the same period last year[8]. - Total revenue was HKD 94,851,000, an increase from HKD 72,609,000 for the same period in 2022, representing a growth of approximately 30.6%[22]. - The company reported a pre-tax profit of HKD 16,599,000 for the period, compared to a pre-tax profit of HKD 16,009,000 in the previous year, showing a slight increase of approximately 3.7%[39]. - The company reported a profit of HKD 13,608,000 for the six months ended June 30, 2023, up from HKD 11,464,000 in the same period of 2022, indicating a growth of about 19.0%[120]. Revenue Sources - Rental income decreased to HKD 1,305,000 from HKD 1,805,000, representing a decline of 27.6%[8]. - Revenue from unsecured loans generated approximately HKD 77 million for the six months ended June 30, 2023, compared to HKD 51 million for the same period in 2022, reflecting a growth of approximately 51%[71]. - The segment performance for property development and investment was HKD 20,864,000, compared to HKD 22,065,000 in the previous year, indicating a decrease of about 5.5%[22]. - The company recognized interest income from bank deposits of HKD 648,000 for the period, compared to HKD 830,000 in the previous year, reflecting a decrease of about 21.9%[32]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 1,284,229,000, up from HKD 1,270,706,000 at the end of the previous year[14]. - Total liabilities increased to HKD 186,819,000 as of June 30, 2023, from HKD 178,599,000 at the end of 2022, marking a rise of about 4.3%[30]. - The company’s equity increased to HKD 1,097,410,000 from HKD 1,092,107,000, reflecting a growth of 0.5%[14]. - The company’s total liabilities to total assets ratio as of June 30, 2023, was approximately 14.6%, compared to 14.0% at the end of 2022, indicating a slight increase in leverage[30]. Impairment and Provisions - The company recorded a provision for impairment of loans and interest of HKD 40,766,000, which is significantly higher than HKD 21,286,000 in the previous year[8]. - The company’s expected credit loss for the six months ended June 30, 2023, was HKD 40.8 million, compared to HKD 21.3 million for the same period in 2022, indicating an increase in credit risk[48]. - During the six months ended June 30, 2023, the group wrote off loans and interest receivables totaling approximately HKD 26,894,000 due to borrower bankruptcy and debtor death[130]. Earnings Per Share - Basic and diluted earnings per share for the period were both HKD 0.51, up from HKD 0.43 in the same period last year[12]. - Basic earnings per share increased to HKD 0.51 for the six months ended June 30, 2023, compared to HKD 0.43 for the same period in 2022, representing a growth of approximately 18.6%[75]. Cash Flow and Expenses - Cash and cash equivalents decreased to HKD 9,001,000 as of June 30, 2023, from HKD 29,877,000 at the end of 2022, representing a decline of approximately 69.9%[30]. - The company’s tax expense for the six months ended June 30, 2023, was HKD 2.99 million, a decrease from HKD 4.55 million for the same period in 2022[49]. - The company reported a net interest expense of HKD 3.5 million for the six months ended June 30, 2023, compared to HKD 3.7 million for the same period in 2022, indicating a slight decrease[45]. Investment and Market Strategy - The group is actively seeking investment opportunities in the Chinese property market, particularly in Guangdong Province, despite not acquiring any land or properties during the review period due to intense competition[138]. - The group aims to leverage opportunities in the Chinese market, supported by government policies to stimulate the real estate sector[111]. - The group has established a system to identify and review overdue loan accounts, with management closely monitoring the overall status of outstanding loans through daily reports[106]. Product Development - A new product, X Pay, was launched in the second half of 2023, providing a "buy now, pay later" payment feature within the X Wallet application[142]. - The group plans to enhance its risk management and pricing models while adopting multiple marketing strategies to promote the X Wallet and X Pay brands[137]. Customer Metrics - X Wallet registered users increased from 83,902 on December 31, 2022, to 94,981 on June 30, 2023, representing an increase of approximately 13%[71]. - Active customers of X Wallet rose from 10,969 to 12,380 during the same period, marking a growth of about 13%[71].
TERMBRAY IND(00093) - 2023 - 中期业绩