Plastec Technologies Reports Fiscal 2024 First Half Results
Financial tables/amounts at the end of this release are in
Balance Sheet Highlights at June 30, 2024
-
$12.2 million $12.3 million -
$11.0 million $11.1 million -
Book value per share was
$0.86 $0.86
Management Comments
Mr. Kin Sun Sze-To, Chairman of the Company, stated, 鈥淲hile we continued to operate under a lean corporate structure with minimal operations, due to our strong balance sheet we believe we are well-positioned to act quickly on taking advantage of new opportunities that may arise.鈥�
Forward Looking Statements
This press release contains 鈥渇orward-looking statements.鈥� These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as 鈥渆xpect,鈥� 鈥渆stimate,鈥� 鈥減roject,鈥� 鈥渂udget,鈥� 鈥渇orecast,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥減lan,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渃ould,鈥� 鈥渟hould,鈥� 鈥渂elieves,鈥� 鈥減redicts,鈥� 鈥減otential,鈥� 鈥渃ontinue,鈥� and similar expressions are intended to identify such forward-looking statements.
PLASTEC TECHNOLOGIES, LTD. |
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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited)
( |
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For the 6-month period ended June 30, |
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2024 |
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2023 |
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HK$ |
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HK$ |
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听 |
听 |
听 |
听 |
|||
听 |
听 |
听 |
听 |
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Revenues |
- |
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- |
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|
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听 |
听 |
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Operating expenses, net |
听 |
听 |
听 |
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Selling, general and administrative expenses |
(1,937 |
) |
听 |
(1,337 |
) |
|
Total operating expenses, net |
(1,937 |
) |
听 |
(1,337 |
) |
|
听 |
听 |
听 |
听 |
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Loss from operations |
(1,937 |
) |
听 |
(1,337 |
) |
|
听 |
听 |
听 |
听 |
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Interest income |
2,525 |
听 |
听 |
1,825 |
听 |
|
Income before income tax expense |
588 |
听 |
听 |
488 |
听 |
|
听 |
听 |
听 |
听 |
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Income tax expense |
(524 |
) |
听 |
(435 |
) |
|
Net Income attributable to the Company鈥檚 shareholders |
64 |
听 |
听 |
35 |
听 |
|
听 |
听 |
听 |
听 |
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Other comprehensive income |
听 |
听 |
听 |
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Foreign currency translation adjustment |
- |
听 |
听 |
- |
听 |
|
Comprehensive Income attributable to the Company鈥檚 shareholders |
64 |
听 |
35 |
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听 |
听 |
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Net income per share: |
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听 |
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听 |
听 |
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Weighted average number of ordinary shares |
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12,938,128 |
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12,938,128 |
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听 |
听 |
听 |
听 |
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Weighted average number of diluted ordinary shares |
听 |
12,938,128 |
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听 |
12,938,128 |
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听 |
听 |
听 |
听 |
听 |
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Basic net income per share attributable to the Company鈥檚 shareholders |
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|
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|
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Diluted net income per share attributable to the Company鈥檚 shareholders |
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|
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|
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PLASTEC TECHNOLOGIES, LTD. |
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CONSOLIDATED BALANCE SHEETS
( |
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| 听 | ||||||
(Unaudited) |
(Audited) |
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| 听 | ||||||
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June 30, |
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December 31, |
||
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2024 |
听 |
2023 |
||
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HK$ |
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HK$ |
||
| 听 | ||||||
ASSETS |
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Current assets |
听 |
听 |
听 |
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Cash and cash equivalents |
听 |
95,072 |
听 |
听 |
96,303 |
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Deposits, prepayment and other receivables |
听 |
5,045 |
听 |
听 |
4,296 |
听 |
Total current assets |
听 |
100,117 |
听 |
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100,572 |
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Property, plant and equipment, net |
听 |
315 |
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7 |
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Intangible assets |
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438 |
听 |
听 |
438 |
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Total assets |
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100,870 |
听 |
听 |
101,017 |
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LIABILITIES AND SHAREHOLDERS鈥� EQUITY |
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Current liabilities |
听 |
听 |
听 |
听 |
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Other payables and accruals |
听 |
438 |
听 |
听 |
1,173 |
听 |
Tax payable |
听 |
13,504 |
听 |
听 |
12,980 |
听 |
Total current liabilities |
听 |
13,942 |
听 |
听 |
14,153 |
听 |
听 |
听 |
听 |
听 |
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Total liabilities |
听 |
13,942 |
听 |
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14,153 |
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听 |
听 |
听 |
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Commitments and contingencies |
听 |
- |
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- |
听 |
听 |
听 |
听 |
听 |
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Shareholders鈥� equity |
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听 |
听 |
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Ordinary shares ( |
听 |
101 |
听 |
听 |
101 |
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Additional paid-in capital |
听 |
26,049 |
听 |
听 |
26,049 |
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Accumulated other comprehensive income |
听 |
(30 |
) |
听 |
(30 |
) |
Retained earnings |
听 |
60,808 |
听 |
听 |
60,744 |
听 |
Total shareholders鈥� equity |
听 |
86,928 |
听 |
听 |
86,864 |
听 |
听 |
听 |
听 |
听 |
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Total liabilities and shareholders鈥� equity |
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100,870 |
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听 |
101,017 |
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PLASTEC TECHNOLOGIES, LTD. |
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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
( |
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| 听 | ||||||
听 |
听 |
听 |
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For the 6-month period ended June 30, |
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听 |
2024 |
听 |
2023 |
|||
听 |
HK$ |
听 |
HK$ |
|||
Operating activities |
听 |
听 |
听 |
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Net Income |
64 |
听 |
听 |
35 |
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|
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听 |
听 |
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Adjustments to reconcile net income to net cash provided by operating activities: |
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Depreciation and amortization |
36 |
听 |
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- |
听 |
|
Changes in operating assets and liabilities: |
听 |
听 |
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|||
Deposits, prepayment and other receivables |
(749 |
) |
听 |
(543 |
) |
|
Other payables and accruals |
(735 |
) |
听 |
(153 |
) |
|
Tax payables |
524 |
听 |
听 |
453 |
听 |
|
Net cash used in operating activities |
(860 |
) |
听 |
(208 |
) |
|
听 |
听 |
听 |
听 |
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Net decrease in cash and cash equivalents |
(860 |
) |
听 |
(208 |
) |
|
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听 |
听 |
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Investing activities |
听 |
听 |
听 |
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Purchase of plant and machinery |
(371 |
) |
听 |
- |
听 |
|
Net cash used in investing activities |
(371 |
) |
听 |
- |
听 |
|
听 |
听 |
听 |
听 |
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Net decrease in cash and cash equivalents |
(1,231 |
) |
听 |
(208 |
) |
|
听 |
听 |
听 |
听 |
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Cash and cash equivalents, beginning of period |
96,303 |
听 |
听 |
95,646 |
听 |
|
Cash and cash equivalents, end of period |
95,072 |
听 |
听 |
95,438 |
听 |
|
听 |
听 |
听 |
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SUPPLEMENTARY DISCLOSURES OF CASH FLOW INFORMATION: |
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听 |
听 |
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Interest received, net |
2,525 |
听 |
听 |
1,825 |
听 |
|
听
View source version on businesswire.com:
Plastec Technologies, Ltd.
HL Ning, Chief Financial Officer
[email protected]
INVESTOR RELATIONS:
The Equity Group Inc.
Alice Zhang, Associate
(212) 836-9610
[email protected]
Source: Plastec Technologies, Ltd.
