Financial Performance - Revenue for the six months ended June 30, 2019, was HK$93,878,000, a decrease of 24.2% compared to HK$123,824,000 in 2018[3] - Gross profit for the period was HK$11,777,000, slightly down from HK$11,927,000 in the previous period[2] - Loss before tax for the period was HK$23,718,000, compared to a profit of HK$6,670,000 in the same period last year[2] - Loss for the period amounted to HK$24,224,000, a significant decline from a profit of HK$6,065,000 in 2018[2] - Total comprehensive expense for the period was HK$24,280,000, compared to a total comprehensive income of HK$6,026,000 in the previous year[2] - Basic and diluted loss per share was HK$0.16, compared to earnings of HK$0.04 per share in the prior period[2] Assets and Liabilities - Current assets decreased to HK$390,903,000 from HK$435,057,000 at the end of 2018[6] - Trade and other receivables decreased to HK$44,914,000 from HK$54,868,000 in the previous period[6] - Net assets as of June 30, 2019, were HK$332,349,000, down from HK$339,719,000 at the end of 2018[6] - The company recognized lease liabilities of HK$2,197,000 as part of its non-current liabilities[6] - Total segment assets as of June 30, 2019, amounted to HK$364,615,000, a decrease from HK$394,202,000 as of December 31, 2018[34] - Total segment liabilities were HK$55,657,000 as of June 30, 2019, down from HK$93,004,000 at the end of 2018[37] Cash Flow - Net cash used in operating activities decreased to HK$16,019,000 in 2019 from HK$25,531,000 in 2018, representing a reduction of approximately 37.5%[10] - Net cash generated from financing activities was HK$1,213,000 in 2019, down from HK$3,447,000 in 2018, indicating a decline of about 64.8%[10] - Cash and cash equivalents at the end of the period were HK$51,679,000, a decrease from HK$63,412,000 in 2018, reflecting a decline of approximately 18.6%[10] - The net decrease in cash and cash equivalents for the period was HK$14,804,000, compared to a decrease of HK$22,082,000 in 2018, indicating an improvement of about 32.9%[10] Segment Performance - For the six months ended June 30, 2019, total revenue was HK$93,878,000, with external sales from telephones and related equipment contributing HK$35,972,000[25] - The money lending segment generated an interest income of HK$9,349,000, while the securities brokerage segment reported a loss of HK$1,210,000[25] - Approximately 38.3% of the Group's revenue was derived from sales of telephone and related products, while 39.9% was contributed by B2B cross-border e-commerce business[75] Accounting Policies and Standards - The Group adopted HKFRS 16 from January 1, 2019, recognizing lease liabilities measured at the present value of remaining lease payments[16] - The Group has not early adopted new or amended HKFRSs that are not yet effective, including HKFRS 17 on Insurance Contracts, effective from January 1, 2021[19] - The cumulative effect of the initial application of HKFRS 16 was recognized without restating comparative information, impacting the opening balance sheet on January 1, 2019[18] Shareholder Information - The percentage shareholding is calculated based on the Company's issued share capital of 15,215,731,320 as of June 30, 2019[110] - The number of share options exercisable under the Share Option Scheme was 1,746,916,000 shares, representing approximately 11.48% of the issued shares[118] - No dividends were paid or proposed during the six months ended June 30, 2019, and 2018[55] Corporate Governance - The company is committed to high standards of corporate governance practices and procedures[125] - All directors, including non-executive directors, are subject to retirement by rotation at least once every three years[128] - The company has complied with the Model Code for securities transactions by directors throughout the six months ended June 30, 2019[130]
新确科技(01063) - 2019 - 中期财报