Financial Performance - Revenue for the six months ended December 31, 2024, was HKD 307,757,000, representing a 55.8% increase from HKD 197,513,000 for the same period in 2023[4] - Gross profit for the same period was HKD 25,205,000, up 54.3% from HKD 16,339,000 year-over-year[4] - The company reported a loss before tax of HKD 27,268,000, an improvement from a loss of HKD 36,835,000 in the previous year, indicating a 26.0% reduction in losses[4] - The company reported a net loss of approximately HKD 27,268,000 for the six months ended December 31, 2024[24] - The basic loss attributable to the company's owners for the six months ended December 31, 2024, was HKD 26,256,000, compared to HKD 36,294,000 for the six months ended June 30, 2023[44] - The group incurred a pre-tax loss of HKD 27,268,000 for the six months ended December 31, 2024, compared to a loss of HKD 36,835,000 for the same period in 2023, indicating an improvement in financial performance[40] Expenses and Costs - Research and development costs increased to HKD 9,035,000, compared to HKD 3,287,000 in the prior period, reflecting a 174.5% rise[4] - Total comprehensive expenses for the period amounted to HKD 29,289,000, down from HKD 39,345,000, showing a 25.6% decrease[4] - The group’s total financial costs, excluding lease liabilities, decreased to HKD 14,852,000 for the six months ended December 31, 2024, down from HKD 23,084,000 in the previous year[37] Assets and Liabilities - The company’s cash and cash equivalents were HKD 118,981,000 as of December 31, 2024, down from HKD 138,125,000 at the end of June 2024[9] - Current liabilities increased to HKD 375,452,000 from HKD 331,308,000, representing a 13.3% rise[9] - Non-current assets totaled HKD 59,857,000, down from HKD 67,511,000, indicating a 11.5% decrease[9] - The company’s equity attributable to owners was a loss of HKD 26,154,000 as of December 31, 2024, compared to a gain of HKD 2,176,000 in the previous period[10] - As of December 31, 2024, the company's net liabilities amounted to approximately HKD 30,687,000[24] - The total amount of convertible bonds was HKD 181,944,000 as of December 31, 2024, which includes both the liability and equity portions[55] Cash Flow - The net cash flow from operating activities for the six months ended December 31, 2024, was HKD 4,705,000, compared to HKD 11,786,000 for the same period in 2023[17] - The company experienced a net cash outflow from investing activities of HKD 18,230,000 for the six months ended December 31, 2024[17] - The cash and cash equivalents at the end of the reporting period were HKD 118,981,000, a decrease from HKD 76,595,000 in the previous year[17] Business Operations - The company is engaged in carbon credit trading and carbon asset management, focusing on carbon neutrality initiatives[22] - The group’s carbon neutral division generated revenue of HKD 2,739,000, while the civil engineering and construction division contributed HKD 287,466,000 in revenue[29] - The company has successfully launched the "Green Credit Chain" platform, which integrates 24 methodologies covering all carbon emission industries, enhancing capabilities in carbon accounting, trading, and consultation[74] - The "Xunli Network" platform, focused on the lithium battery recycling industry, has officially launched, aiming to facilitate transactions and provide financial services to enhance productivity[75] - The company has expanded its old battery repurposing business, collaborating with major enterprises like China Tower and BYD, and is establishing a complete industry chain centered in Henan[76] Future Outlook - The company believes it has sufficient financial resources to meet its future financing needs and operational requirements[24] - The group plans to improve its debt ratio by repaying other borrowings, which will reduce long-term financial costs[25] - The company plans to collaborate with relevant institutions to attempt the securitization of carbon assets to facilitate sales[85] Compliance and Governance - The company has not adopted any new accounting standards that would significantly impact the interim financial statements[20] - The company has adopted a code of conduct for securities trading by directors, confirming compliance until December 31, 2024[98] - The audit committee consists of three members, including Mr. Cao Ming (Chairman), Mr. Wang Jiasi, and Ms. Qiao Yanlin, all of whom are independent non-executive directors[100]
中国碳中和(01372) - 2024 - 中期业绩