SHIN HWA WORLD(00582)
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神话世界(00582) - 2023 - 中期财报
2023-09-19 08:36
Financial Performance - Revenue for the six months ended June 30, 2023, was HK$418,094,000, a decrease of 39.4% compared to HK$691,554,000 in the same period of 2022 [23]. - Loss before tax for the period was HK$317,513,000, compared to a loss of HK$82,265,000 in the prior year, representing a significant increase in losses [23]. - Loss attributable to owners of the parent for the period was HK$338,939,000, up from HK$105,358,000 in the previous year, indicating a 221.5% increase in losses [23]. - Basic and diluted loss per share attributable to owners of the parent was HK8.02 cents, compared to HK2.49 cents in the same period last year [23]. - Total comprehensive loss for the period attributable to owners of the parent was HK$629,363,000, compared to HK$739,404,000 in the same period last year, showing a decrease of 14.9% [25]. - The company reported a loss for the period of HK$338,939,000, contributing to a total comprehensive loss of HK$629,363,000 for the period [33]. - The accumulated losses increased to HK$8,872,430,000 as of June 30, 2023, compared to HK$8,228,341,000 at the beginning of the year [33]. - The total tax charge for the period was HK$21,426,000, a slight decrease from HK$23,093,000 in the previous year [99]. Cash and Liquidity - The Group's cash incident is under investigation, with restricted cash of KRW 10,150,000,000 (approximately HK$ 60,325,000) and additional cash of KRW 3,250,000,000 (approximately HK$ 19,316,000) seized by the Jeju Police, totaling KRW 13,400,000,000 (approximately HK$ 79,641,000) [18]. - Cash and cash equivalents at the end of the period were HK$ 313,885,000, down from HK$ 513,984,000 at the end of June 2022, reflecting a net decrease of HK$ 180,178,000 [39]. - The company reported a net cash flow decrease of HK$ 180,178,000 in cash and cash equivalents, reflecting operational challenges [39]. - The Group's cash and bank balances as of June 30, 2023, were approximately HK$313,885,000, down from approximately HK$503,421,000 as of December 31, 2022 [195]. - The current ratio decreased to 2.7 as of June 30, 2023, compared to 3.69 as of December 31, 2022, primarily due to a decrease in cash and cash equivalents [194]. Assets and Liabilities - Total non-current assets decreased to HK$8,295,228,000 as of June 30, 2023, from HK$8,739,920,000 at the end of 2022, reflecting a decline of 5.1% [30]. - Current assets decreased to HK$1,108,671,000 as of June 30, 2023, down from HK$1,316,102,000 at the end of 2022, a reduction of 15.8% [30]. - Net current assets were HK$697,417,000, down from HK$959,703,000 at the end of 2022, indicating a decrease of 27.3% [30]. - Non-current liabilities decreased to HK$1,504,625,000 as of June 30, 2023, from HK$1,582,240,000 at the end of 2022, a decline of 4.9% [30]. - The Group's total liabilities were approximately HK$1,915,879,000 as of June 30, 2023, a slight decrease from approximately HK$1,938,639,000 as of December 31, 2022 [196]. - The gearing ratio increased to 20.4% as of June 30, 2023, compared to 19.3% as of December 31, 2022 [196]. Operational Insights - The management discussion and analysis section provides insights into the Group's performance and future outlook [8]. - The Group continues to monitor the situation closely, with updates provided as investigations progress [18]. - The financial results reflect the Group's ongoing commitment to maintaining robust financial practices amid challenges [8]. - The decline in revenue was attributed to intense competition, a decrease in residential property sales, increased operating expenses due to inflation, and the absence of a prior period reversal of impairment [158]. - The Group is engaged in the development and operation of integrated leisure and entertainment resorts, gaming, and property development, indicating a diversified business model [42]. Segment Performance - For the six months ended June 30, 2023, total segment revenue was HK$418,094,000, a decrease of 39.5% compared to HK$691,554,000 for the same period in 2022 [78][84]. - The Integrated Resort Development segment generated revenue of HK$347,838,000, while the Gaming Business and Property Development segments contributed HK$23,804,000 and HK$46,452,000, respectively [78]. - The Property Development segment reported a profit of HK$16,153,000, contrasting with losses in the other segments, which indicates potential growth in this area [78]. - Non-gaming revenue for the Period was approximately HK$394,290,000, down from approximately HK$658,918,000 in 2022, while gaming revenue decreased to approximately HK$23,804,000 from approximately HK$32,636,000 [157]. Future Outlook - The Group plans to reformulate its marketing strategy to seize opportunities from the rebound of tourism following the easing of travel restrictions in early 2023 [187]. - Rising interest rates and inflation are expected to challenge the Group's operations, leading to cautious capital commitments and prudent future development plans [189]. - The Group is exploring further residential development in Jeju Shinhwa World to better utilize land and broaden income streams [190]. - The Group will continue to evaluate its funding needs and explore fundraising opportunities as they arise [190].
神话世界(00582) - 2023 - 中期业绩
2023-08-29 10:53
香港交易及結算所有限公司以及香港聯合交易所有限公司對本公告之內容概不負責,對其準確性或 完整性亦不發表任何聲明,並明確表示,概不對因本公告全部或任何部分內容而產生或因倚賴該等 內容而引致之任何損失承擔任何責任。 Shin Hwa World Limited 神 話 世 界 有 限 公 司 (於開曼群島註冊成立及於百慕達存續之有限公司) (股份代號:00582) 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 告 神話世界有限公司(「本公司」)之董事(「董事」)會(「董事會」)謹此提呈本公司及其附 屬公司(統稱「本集團」)截至二零二三年六月三十日止六個月(「本期間」)之未經審核 中期業績,連同二零二二年同期之比較數字。本公司之審核委員會(「審核委員會」) 已與本公司管理層審閱及討論本集團本期間之未經審核中期財務資料。 ...
神话世界(00582) - 2022 - 年度财报
2023-04-25 08:55
Financial Performance - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 20% growth compared to the previous year[1]. - The company reported a net profit margin of 12%, up from 10% in the previous year, indicating improved operational efficiency[1]. - Cash flow from operations increased by 18%, totaling $80 million, providing a strong liquidity position for future investments[1]. - The Group's consolidated revenue was approximately HK$1,386,800,000, representing a slight increase of approximately 2.7% compared to HK$1,349,996,000 in 2021[37]. - Non-gaming revenue for the year was approximately HK$1,340,673,000, an increase from approximately HK$1,261,392,000 in 2021, while gaming revenue decreased to approximately HK$46,127,000 from HK$88,604,000 in 2021[37]. - The loss attributable to the owners of the parent decreased substantially to approximately HK$216,911,000, down from approximately HK$1,055,766,000 in 2021, marking a reduction of approximately 79.5%[43]. - The basic and diluted loss per share attributable to owners of the parent was HK5.13 cents, compared to HK26.84 cents in 2021[43]. - The Group's total liabilities decreased to approximately HK$1,938,639,000 as of December 31, 2022, down from HK$2,699,637,000 in 2021[92]. - The gearing ratio improved to 19.3% as of December 31, 2022, compared to 23.5% in 2021, indicating a stronger capital structure[92]. Market Expansion and Strategy - The company provided an optimistic outlook for the next fiscal year, projecting a revenue growth of 25%[1]. - New product launches are expected to contribute an additional $100 million in revenue, with a focus on innovative technology solutions[1]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[1]. - The Company is exploring potential acquisitions to enhance its market position and diversify its offerings[33]. - Market expansion efforts include entering D new regions, which are anticipated to drive further growth[33]. - The Group plans to re-evaluate its strategic plans in response to the easing of travel restrictions in early 2023, while acknowledging ongoing challenges[66]. - The Group is exploring opportunities for developing an integrated resort in the Philippines, with an extension granted by PAGCOR to fulfill documentary requirements[67]. Operational Developments - A strategic acquisition of a local competitor was completed, valued at $50 million, aimed at enhancing operational capabilities[1]. - The Company has invested $10 million in research and development for new technologies to improve service delivery[1]. - The Company is investing in new technology development, with a budget allocation of $C million aimed at improving operational efficiency[33]. - The construction plan for a new hotel in Jeju Shinhwa World has been suspended, with a strategic shift towards property development[72]. - A new residential development in zone R of Jeju Shinhwa World is expected to commence construction in 2023 and be completed in 2024, potentially broadening the Group's income stream[72]. Governance and Management - The Board does not recommend the payment of a final dividend for the year, consistent with the previous year where no dividend was declared[142]. - The Company has established mechanisms for independent views to be available to the Board, including the appointment of independent non-executive directors to board committees[160]. - The Nomination Committee assesses the independence of independent non-executive directors annually to ensure they can exercise independent judgment[160]. - The Company adheres to the corporate governance code and has adopted all principles outlined in the Listing Rules[152]. - The Audit Committee consists of three independent non-executive Directors, with responsibilities including reviewing the Group's financial statements and monitoring the external auditor's performance[188]. - The Company has adopted a board diversity policy, considering factors such as gender, age, and professional experience in director appointments[173]. - The Nomination Committee is responsible for nominating suitable candidates for the Board, ensuring a balance of skills and diversity[180]. Risks and Challenges - Rising interest rates and geopolitical tensions are expected to impact economic activity, prompting the Group to maintain a cautious approach to capital commitments[68]. - The tourism industry in South Korea is influenced by global economic conditions, which could adversely affect Jeju Shinhwa World's operations and profitability[77]. - Rising labor costs and potential labor shortages may increase staff costs and negatively impact the Group's profitability[77]. - Project cost overruns and delays due to unforeseen factors could lead to additional project costs for the Group[82]. - The outbreak of infectious diseases may severely impact visitation to the Group's attractions, affecting operational performance[82]. - Changes in government regulations and policies in property development could significantly affect the Group's development plans and budgets[88]. - Environmental risks and liabilities could result in substantial costs for the Group due to health and environmental protection laws[88]. - Volatile real estate prices, influenced by various economic factors, could affect the Group's turnover and operations[88]. Employee and Community Engagement - As of December 31, 2022, the Group had approximately 1,418 employees, an increase from 1,364 in 2021, with total staff costs amounting to approximately HK$469,015,000, down from HK$540,537,000 in 2021, reflecting a reduction of about 13.2%[129]. - The Company aims to promote potential female staff to senior management or directorship positions[174]. - As of the report date, 2 out of 8 Directors are female, with a target to maintain this level of female representation and ultimately achieve gender parity[174].
神话世界(00582) - 2022 - 年度业绩
2023-03-30 11:36
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責,對其準確性或完 整性亦不發表任何聲明,並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴該等內容 而引致之任何損失承擔任何責任。 Shin Hwa World Limited 神 話 世 界 有 限 公 司 (前稱Landing International Development Limited藍鼎國際發展有限公司) (於開曼群島註冊成立及於百慕達存續之有限公司) (股份代號:00582) 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 全 年 業 績 公 告 神話世界有限公司(「本公司」)董事(「董事」)會(「董事會」)特此宣佈本公司及其附屬 公司(統稱「本集團」)截至二零二二年十二月三十一日止年度之綜合業績。 ...
神话世界(00582) - 2020 - 中期财报
2020-09-21 08:31
LANDING INTERNATIONAL DEVELOPMENT LIMITED 藍 鼎 國 際 發 展 有 限 公 司 (Incorporated in the Cayman Islands and continued in Bermuda with limited liability) (於開曼群島註冊成立及於百慕建存續之有限公司) Stock Code 股份代號:582 INTERIM REPORT 2020 中期報告 CONTENTS 目錄 � 2 Corporate Information 公司資料 - � � -� 4 Unaudited Interim Results of the Group 本集團之未經審核中期業績 � -1 5 Report on Review of Interim Financial Information 中期財務資料的審閱報告 � -� 7 Condensed Consolidated Statement of Profit or Loss 簡明綜合損益表 � -0 8 Condensed Consolidated Statement of Comprehensiv ...
神话世界(00582) - 2019 - 中期财报
2019-09-25 08:44
be LANDING INTERNATIONAL DEVELOPMENT LIMITED 藍 鼎 國 際 發 展 有 限 公 司 (Incorporated in the Cayman Islands and continued in Bermuda with limited liability) (於開曼群島註冊成立及於百慕達存續之有限公司) Stock Code 股份代號:582 INTERIM REPORT 2019 中 期 報 告 \\\\\\ Sunshine Enterprise, Centurial Landing 陽 光 企 業 ,百 年 藍 鼎 CONTENTS 目 錄 4 Corporate Information 公 司 資 料 6 Unaudited Interim Results of the Group 本集團之未經審核 中 期 業 績 7 Report on Review of Interim Financial Information 中 期 財 務 資 料 的 審 閱 報 告 9 Condensed Consolidated Statement of Profit or Lo ...