International Genius Company (33) H1 2024 earnings summary

Executive summary

• Revenue for the six months ended 31 December 2023 was HK$102.86 million, down 46.65% year-over-year, mainly due to decreased demand for raw materials and increased competition in party products.

• Net loss widened to HK$20.72 million from HK$14.31 million in the prior year period.

• Loss per share was HK$3.86 cents, compared to HK$2.67 cents in the previous year.

Financial highlights

• Gross profit fell to HK$1.65 million from HK$4.82 million year-over-year.

• Operating expenses were HK$22.10 million, nearly flat year-over-year.

• Cash and bank balances stood at HK$55.94 million as of 31 December 2023, down from HK$89.08 million at 30 June 2023.

• No interim dividend was declared for the period.

Outlook and guidance

• The company expects policy support in China, including a recent deposit reserve ratio cut, to boost credit supply and potentially improve business confidence.

• Plans to focus on technology upgrades, especially in algorithmic and AI trading, to enhance income and profitability.