中国储能科技发展(01143) - 2024 - 中期财报

Revenue Performance - Revenue increased by approximately HK$36.2 million or 15.8$264.7 million for the period ended 30 June 2024, compared to HK$228.5 million for the same period in 2023[5] - EMS segment revenue rose by approximately HK$49.6 million or 25.1% to approximately HK$247.4 million for the period ended 30 June 2024, up from HK$197.8 million in 2023[5] - Revenue from the distribution of Communication Products decreased by 97.6% to HK$0.2 million for the period ended 30 June 2024, down from HK$8.2 million in 2023[5] - Revenue from Real Estate Supply Chain Services increased by 11.6% to HK$4.8 million for the period ended 30 June 2024, compared to HK$4.3 million in 2023[5] - Securities and Other Assets Investment segment contributed approximately HK$12.2 million in revenue for the six months ended 30 June 2024, down from HK$18.0 million in 2023[5] - The revenue growth in the EMS segment was attributed to the easing of pandemic-related market conditions in 2024[5] - Revenue contributions from major European countries totaled HK$95.4 million, accounting for 36.0$71.7 million in revenue, representing 27.1% of total turnover[27] - Revenue from the People's Republic of China and other countries amounted to HK$33.3 million and HK$64.3 million, respectively[27] - Revenue for the six months ended June 30, 2024, was HK$247,369,000, a significant increase of 25.0$197,813,000 for the same period in 2023[128] - The Group's revenue from external customers for the six months ended June 30, 2024, was HK$264,698,000, up from HK$228,457,000 in 2023, indicating a growth of 15.9%[128] Financial Position and Performance - The loss attributable to owners of the Company was HK$3.9 million for the period ended 30 June 2024, with a net profit margin of -1.5$293.0 million[34] - Total borrowings increased to approximately HK$7.8 million as of 30 June 2024, compared to HK$4.8 million on 31 December 2023[34] - The gearing ratio was 37.7% as of 30 June 2024, slightly up from 37.1% on 31 December 2023[34] - The Group reported a total comprehensive income for the period of HK$(10,745,000) for the six months ended June 30, 2024[95] - The accumulated losses as of June 30, 2024, were HK$(535,408,000)[95] - The cash and cash equivalents at the end of the period stood at HK$293,045,000, compared to HK$255,479,000 at the end of the previous period[98] - Total assets as of June 30, 2024, amounted to HK$798,098,000, an increase from HK$776,418,000 as of December 31, 2023[88] - Current assets increased to HK$743,399,000 from HK$705,931,000, reflecting a growth in liquidity[88] - Non-current assets decreased to HK$54,699,000 from HK$70,487,000, indicating a reduction in long-term asset holdings[88] - Total liabilities increased to HK$300,642,000 from HK$287,693,000[91] Money Lending Business - As of June 30, 2024, the Group's money lending segment generated revenue of approximately HK$0.1 million, accounting for about 0.04$0.2 million as of June 30, 2024[7] - The Group had 4 active loan accounts as of June 30, 2024, all of which were individual customers[7] - The percentage of loans and interest receivables from the four customers ranged from approximately 20.5% to 33.4% of the total loans and interest receivables under the money lending segment[7] - The Group's loan portfolio as of June 30, 2024, consisted of 4 unsecured loans totaling HK$2.39 million, with an interest rate of 10$2.39 million, with an allowance for expected credit losses of HK$748, resulting in a net amount of HK$1.85 million[10] - The Group plans to explore further potential money lending business opportunities while maintaining effective controls for loan approvals and credit monitoring[7] - The source of funds for the money lending business is generally funded by the internal resources of the Group[7] - The management remains alert and will prudently maintain compliance matters applicable to all aspects of the money lending business[7] - The Group's money lending business is newly commenced and focused on unsecured loans, with no specific target customer group identified[7] Impairment and Credit Risk Management - The Group's impairment losses primarily relate to loans and interest receivables, assessed based on historical credit loss experience and adjusted for specific debtor factors[18] - Loans are classified into three stages based on credit risk: Stage 1 (no significant increase), Stage 2 (increase in credit risk), and Stage 3 (significant increase and credit-impaired)[18][19] - The expected credit loss (ECL) model considers the expected life and contractual terms of financial instruments, market probability of default, and forward-looking market data[18][19] - The Group regularly reviews each loan grouping to ensure similar credit risk characteristics among constituents[18] - Management determines loan amounts and interest rates based on the financial strength and repayment ability of borrowers and guarantors[18] - The Group has established strict credit policies and controls to mitigate all associated credit risks[15] - The management is responsible for assessing and approving loans within predetermined credit limits[15] - The Group has intensified efforts in the recovery procedures for loans receivables to minimize potential credit losses[15] - Legal actions will be taken on a case-by-case basis to minimize any possible credit losses, considering normal market practices[15] Share Options and Capital Management - A total of 35,671,850 share options were granted on 28 January 2021, and 53,328,000 share options were granted on 14 June 2022, both under the 2020 Share Option Scheme[67] - On 8 June 2023, the adoption of the 2023 Share Option Scheme and Share Award Plan was approved by shareholders[67] - A total of 15,695,082 share options were granted on 3 November 2023 under the 2023 Share Option Scheme[68] - The weighted average closing price of the shares before the exercise of options during the six months ended 30 June 2024 was HK$2.19 per share[68] - The total number of shares that may be issued in respect of options granted under all schemes during the six months ended 30 June 2024 was approximately 9.2% of the weighted average number of shares in issue for that period[68] - The share options scheme aims to reward and recognize the contributions of grantees to the Group[73] - The share options granted during the six months ending June 30, 2024, were not exercised[69] - The share options scheme does not include a clawback mechanism[72] - The Company did not grant any share options to directors or senior managers during the six months ended June 30, 2024[80] Operational and Strategic Focus - The company continues to assess its business strategies in response to the uncertain global economic environment[5] - The Group aims to enhance its product portfolio, particularly in energy storage and clean energy, to align with China's renewable energy development[58] - The Group plans to focus on strategic objectives in the second half of 2024, enhancing core competitiveness through channel optimization and customer service improvements[58] - The external development environment remains challenging in the post-pandemic era, requiring prompt and effective responses to maintain competitiveness[58] Compliance and Governance - The Audit Committee, consisting of three independent non-executive directors, has reviewed the Group's accounting principles and the unaudited interim financial statements for the six months ended June 30, 2024[63] - The Board does not recommend the payment of an interim dividend for the period (2023: nil) [65] - The company ensures compliance with applicable laws and regulations, particularly the Money Lenders Ordinance and AML & CTF regulations[21] - The company is listed on the Hong Kong Stock Exchange under stock code 1143[194]