Financial Performance - Revenue for the six months ended June 30, 2024, was $21,097 thousand, representing a 46.5% increase from $14,391 thousand in the same period of 2023[1] - Operating loss decreased to $(7,033) thousand from $(10,929) thousand, showing an improvement of 35.5% year-over-year[2] - Loss attributable to shareholders improved to $(9,667) thousand, compared to $(13,112) thousand in the previous year, reflecting a 26.5% reduction[2] - Gross loss margin improved to -45.8% from -91.1%, indicating a significant recovery in profitability[1] - Basic loss per share decreased to (2.7) cents from (3.6) cents, marking a 25% improvement[2] - The company reported a total segment loss of $(6,228) thousand for the six months ended June 30, 2024, an improvement from a loss of $(10,130) thousand in the same period of 2023[13] - The company’s net loss for the period was $(9,743) thousand, compared to a net loss of $(13,216) thousand in the previous year, showing a reduction of approximately 26.5%[13] Assets and Liabilities - Total assets as of June 30, 2024, were $151,724 thousand, down from $157,323 thousand at the end of 2023[3] - Total liabilities increased to $110,261 thousand from $106,117 thousand, indicating a rise of 4.0%[4] - Non-current liabilities decreased to $33,035 thousand from $37,019 thousand, a reduction of 10.7%[4] - Current liabilities rose to $77,226 thousand from $69,098 thousand, reflecting an increase of 11.5%[4] - As of June 30, 2024, the group reported a net current liability of $59,301,000 and a net loss of $9,743,000 for the six-month period[7] - Trade receivables as of June 30, 2024, were $4,733,000, down from $6,290,000 as of December 31, 2023, reflecting a decrease of 24.7%[24] - Trade payables to third parties increased to $3,544,000 as of June 30, 2024, from $2,811,000 as of December 31, 2023, marking an increase of 26%[26] Revenue Segments - The hotel and resort segment generated revenue of $17,157 thousand, up from $10,683 thousand in the previous year, marking a growth of about 60.5%[14] - The high-end travel retail segment reported revenue of $3,506 thousand, compared to $3,472 thousand in the prior year, indicating a slight increase of 1%[13] - The destination services segment achieved revenue of $434 thousand, up from $236 thousand, reflecting an increase of 83.9%[13] - Revenue from the hotel and resort segment was about $17,157,000, up $6,474,000 or 60.6% year-over-year, driven by increased occupancy rates at Crowne Plaza Resort Guam and Crowne Plaza Resort Saipan[32] Operational Efficiency - Employee costs decreased by approximately $286,000 compared to the same period last year, contributing to improved operational efficiency[30] - Total employee benefits expense for the six months ended June 30, 2024, was $7,314,000, slightly down from $7,600,000 in 2023, a decrease of 3.8%[20] - Employee count decreased to 351 as of June 30, 2024, down from 397 a year earlier, reflecting operational efficiency reviews[51] Financial Management and Strategy - The group plans to accelerate the collection of trade receivables and control capital and operating expenditures to generate sufficient operating cash flow[8] - The board believes that the group will have sufficient working capital to meet its financial obligations for at least the next twelve months, based on cash flow forecasts and planned measures[8] - The group has committed to consider additional funding sources as needed to improve its financial condition and support operations[8] - The company continues to implement cost-saving measures and improve operational efficiency at its Crowne Plaza resorts to enhance profitability[41] - The management continues to explore potential acquisition opportunities to sustain long-term growth[49] Market and Visitor Trends - In the first half of 2024, Guam welcomed over 386,000 visitors, a 30.7% increase compared to the same period last year, reaching 48.5% of pre-pandemic levels[28] - Saipan saw approximately 105,000 visitors in the first five months of 2024, marking a 49.6% increase year-over-year and 51.5% of pre-pandemic levels[28] - The reopening of direct flights from Hong Kong to Saipan in April 2024 significantly boosted visitor numbers from China, with 7,310 visitors recorded in the first five months, a tenfold increase year-over-year[28] - Visitor numbers to CNMI are steadily increasing, with a cautious optimism for continued growth in the second half of 2024[46] Corporate Governance and Reporting - The company has no issued potential dilutive ordinary shares, thus no adjustment was made to the basic loss per share for the periods ended June 30, 2024, and 2023[22] - The company has no significant contingent liabilities as of June 30, 2024[50] - The mid-term report will be published on the company's website and the Hong Kong Stock Exchange website[58] - The report is in compliance with the listing rules of the Hong Kong Stock Exchange[58] - The company is committed to transparency and timely disclosure of financial information[58] - The board consists of a diverse group of members with various expertise[58] - The announcement date is August 29, 2024[58]

Financial Performance - The company's revenue for the fiscal year 2023 was $36.847 million, a significant increase from $15.751 million in 2022, representing a growth of 133.5%[12] - Operating loss for the year was $18.183 million, compared to a loss of $12.472 million in the previous year, indicating a deterioration in operational performance[12] - Loss attributable to owners of the company was $22.961 million, which is an increase from $11.425 million in 2022, reflecting a higher percentage of loss at -62.3% of revenue compared to -72.5% in the prior year[12] - The company reported a basic loss per share of 6.4 cents, up from 3.2 cents in 2022, indicating increased losses on a per-share basis[12] - The group recorded revenue of approximately $36,847,000 for the year, an increase of $21,096,000 compared to last year's revenue of approximately $15,751,000, representing a growth of 133.5%[28] - Revenue from the Guam operations increased by 312.7%, while revenue from Saipan operations increased by 43.2% due to the reopening of Crowne Plaza Resort Guam and Crowne Plaza Resort Saipan[28] - The hotel and resort segment generated total revenue of $28,194,000, an increase of $20,134,000 or 249.8% compared to the previous year, primarily driven by the recovery of Crowne Plaza Resort Guam and Crowne Plaza Resort Saipan[34] - Crowne Plaza Resort Guam's revenue increased by $17,343,000, a growth of 3,102.5%, reaching approximately 88.8% of its pre-pandemic revenue level[36] - The high-end travel retail segment generated revenue of $7,948,000, an increase of $500,000 or 6.7% from last year, primarily due to increased visitor numbers in Guam and Saipan[41] - The destination services segment's revenue reached $705,000, a significant increase of $462,000 or 190.1% from the previous year, driven by the reopening of convenience stores in Crowne Plaza Resort Saipan[45] Tourism Recovery - The number of visitors to Guam and the Commonwealth of Northern Mariana Islands (CNMI) doubled compared to 2022, showing a strong recovery in tourism[16] - Visitor arrivals to Guam in 2023 exceeded 656,000, approximately double the number from 2022 and 39.4% of the pre-pandemic levels in 2019[23] - Visitor arrivals to Saipan in 2023 exceeded 215,000, about 2.2 times the number from 2022 and 44.3% of the pre-pandemic levels in 2019[23] - The major source markets for visitors to Guam and CNMI in 2023 were South Korea, accounting for 56.6% and 82.3% of total visitors, respectively[24] - The company anticipates that the international tourism industry will fully recover to pre-pandemic levels by the end of 2024, with an estimated growth of 2.0% compared to 2019 levels[50] Strategic Initiatives - The company plans to reopen Kanoa Resort under the "voco Resort Saipan" brand after renovations, indicating a strategy for market expansion and brand enhancement[17] - The group plans to rebrand and renovate Kanoa Resort, which has been closed since July 2022, to reopen as "voco Resort Saipan"[27] - The company aims to maintain market share and adjust operational strategies to improve segment profits and hotel operational efficiency in the recovering tourism market[17] - The company has implemented effective cost-cutting measures and relocated some retail stores to stronger locations to enhance profitability in the high-end travel retail segment[18] - The company continues to implement effective cost-saving measures and adjust operational strategies with IHC Hotel Limited to mitigate financial impacts and enhance operational efficiency[35] Capital Expenditure and Financing - The total capital expenditure for the asset optimization plan in 2023 was approximately $8.7 million, funded through internal cash flow, proceeds from the IPO, and shareholder loans[63] - The capital expenditure for the renovation and rebranding of Kanoa Resort is partially funded by internal resources and external financing, with the project still in a cautious planning phase due to market recovery[53][54] - As of December 31, 2023, the group had cash and bank deposits totaling approximately $4.44 million, a slight increase from the previous year[63] - As of December 31, 2023, the group had $42.63 million in interest-bearing term loans and $5 million in revolving loans, with a repayment schedule outlined for the next five years[64] - The company's capital debt ratio increased to 93.0% as of December 31, 2023, compared to 64.7% in 2022[69] Employee and Operational Insights - The total employee cost for the year was approximately $15,932,000, significantly up from $7,383,000 in 2022[72] - The company employed 402 full-time employees as of December 31, 2023, an increase from 372 in 2022[72] - The group faces risks related to labor shortages, which could impact service quality and operational performance, as the hotel and resort division requires a significant workforce[188] Related Party Transactions - The company has established a new framework agreement with Quanzhou Century Travel, setting annual caps for selected holiday package transactions at $5,079,000, $16,311,000, and $17,465,000 for the next three years[162] - The total value of related party transactions for the year includes $326,000 for selected holiday package transactions, $1,086,000 for medical insurance, and $268,000 for freight and logistics transactions[161] - The company has a long-term cooperative model with Quanzhou Century Travel, which stabilizes sales and enhances hotel revenue, mitigating risks associated with seasonal declines in the Saipan leisure tourism market[162] - The company’s related party transactions do not require independent shareholder approval under the listing rules, except for certain non-exempt continuing connected transactions[159] Risk Management - The group closely monitors macroeconomic conditions that could impact leisure tourism and consumer spending, particularly in response to changes in disposable income, sales tax, unemployment rates, and fuel costs[185] - The group regularly conducts risk assessments and has comprehensive insurance coverage for properties, business operations, and third-party liabilities[193] - The COVID-19 pandemic continues to pose major risks to the group's business operations and financial performance, particularly due to reduced flight numbers[193] Governance and Compliance - The company has received confirmation letters regarding the independence of all independent non-executive directors as per listing rules[141] - The group is committed to compliance with all relevant laws and regulations, which incurs compliance costs, and has entered into several hotel management agreements with a term of 25 years[191] - The environmental, social, and governance report for 2023 has been released, covering operations in Hong Kong and leisure tourism businesses in the US territories of Saipan, Guam, and Hawaii[196]

Financial Performance - Revenue for the year ended December 31, 2023, was $36,847,000, a significant increase from $15,751,000 in 2022, representing a growth of 133.5%[2] - The operating loss for the year was $(18,183,000), compared to $(12,472,000) in the previous year, indicating a deterioration in operational performance[4] - Loss attributable to equity holders of the company was $(22,961,000), up from $(11,425,000) in 2022, reflecting an increase of 100.5% in losses[4] - Basic loss per share for the year was $(6.4), compared to $(3.2) in 2022, showing a worsening in per-share performance[4] - Adjusted loss before tax for the total group was $23.064 million in 2023, compared to a loss of $13.758 million in 2022, representing an increase in losses of approximately 67.9%[25] - The total net loss for the year was $22.971 million in 2023, compared to a net loss of $11.494 million in 2022, which is an increase of about 100.1%[25] Revenue Segments - The hotel and resort segment generated revenue of $28.194 million in 2023, compared to $8.060 million in 2022, marking an increase of about 349.4%[25] - The high-end travel retail segment reported revenue of $7.948 million in 2023, up from $7.448 million in 2022, reflecting a growth of approximately 6.7%[25] - The destination services segment earned $705,000 in 2023, compared to $243,000 in 2022, indicating a growth of about 189.3%[25] - Contract revenue from hotels and resorts was $28,032,000 in 2023, compared to $7,971,000 in 2022, indicating a growth of about 251.5%[35] - The total revenue from the Guam business increased by 312.7%, while the Saipan business revenue rose by 43.2%[60] Assets and Liabilities - Total assets as of December 31, 2023, were $157,323,000, slightly down from $158,508,000 in 2022[5] - Total liabilities increased to $106,117,000 from $84,331,000, indicating a rise in financial obligations[6] - Non-current liabilities rose significantly to $37,019,000 from $19,323,000, primarily due to increased borrowings[6] - As of December 31, 2023, the group reported a net current liability of $49,930,000 and a net loss of $22,971,000 for the year[11] - The group has outstanding interest-bearing term loans totaling $42,633,000 and revolving loans of $5,000,000, which are required to be repaid for ongoing renovations of hotels in Guam and Saipan[11] Cash Flow and Liquidity - Cash and cash equivalents increased to $4,438,000 from $3,451,000, showing improved liquidity[5] - The group has cash and cash equivalents of approximately $4,438,000, which may not be sufficient to cover current liabilities[11] - The company reported a financial cost net of $4,881,000 in 2023, compared to $1,286,000 in 2022, reflecting a significant increase in financial expenses[37] Operational Strategies - The group anticipates a cautious recovery in leisure travel and business operations, which is expected to generate operational cash inflows from hotel operations[11] - The group plans to accelerate the collection of outstanding trade receivables and control capital and operating expenditures to maintain sufficient operating cash flow[14] - The company continues to implement cost-saving measures and adjust operational strategies to mitigate financial impacts during the recovery phase[65] Governance and Compliance - The board of directors includes three executive directors and three independent non-executive directors, ensuring a diverse governance structure[116] - The company emphasizes compliance with regulatory requirements in its reporting practices[116] - The board composition reflects a mix of executive and independent directors, which may enhance decision-making processes[116] - The company is committed to transparency in its financial disclosures, aligning with best practices in corporate governance[116] Future Outlook - International tourism is expected to fully recover to pre-pandemic levels by the end of 2024, with an estimated growth of 2.0% compared to 2019[81] - The management anticipates beneficial synergies among the three hotels under the InterContinental Hotels Group once the leisure travel market fully recovers[86] - The company is exploring potential acquisition opportunities to sustain long-term growth and maximize shareholder value[89]

Financial Performance - The company reported revenue of $14,391,000 for the six months ended June 30, 2023, representing a 52.5% increase compared to $9,459,000 for the same period in 2022[16]. - The company reported a basic and diluted loss per share of 3.6 cents, compared to 0.1 cents in the previous year, highlighting deteriorating earnings performance[19]. - The company incurred a net loss of $13,112 thousand during the first half of 2023, compared to a loss of $493 thousand in the same period of 2022[26]. - The company reported a pre-tax loss of $13,216 million for the first half of 2023, compared to a loss of $1,002 million in the same period of 2022[49]. - The group reported a loss attributable to shareholders of $13,112,000 for the six months ended June 30, 2023, compared to a loss of $493,000 for the same period in 2022[71]. Operational Challenges - Operating loss for the period was $10,929,000, compared to a loss of $538,000 in the previous year, reflecting a significant increase in operational challenges[16]. - The company had a net current liability of $42,181,000 as of June 30, 2023, raising concerns about its ability to continue as a going concern[14]. - Cash and cash equivalents stood at $3,085,000, which is insufficient to cover the current liabilities due in the near term[14]. - The ability to continue as a going concern is subject to significant uncertainty and depends on the success of the group's plans and measures[38]. Cost Management - The cost of goods sold was $1,929,000, down from $2,488,000, indicating a 22.4% reduction[16]. - Employee benefits expenses surged to $7,600,000, a significant increase from $1,798,000, indicating rising operational costs[16]. - Financial costs increased to $2,288,000 from $464,000, reflecting higher borrowing costs impacting overall financial health[16]. - The group continues to implement effective cost-saving measures to mitigate negative financial impacts during the reopening of the two Crowne Plaza hotels[131]. Assets and Liabilities - Total assets increased to $160,219 thousand as of June 30, 2023, compared to $158,508 thousand at the end of 2022, reflecting a growth of 1.1%[22]. - Non-current liabilities rose significantly to $37,835 thousand from $19,323 thousand, marking an increase of 96.5%[23]. - The company’s total liabilities reached $99,258 thousand, up from $84,331 thousand, representing a growth of 17.7%[23]. - The total trade and other payables as of June 30, 2023, amount to $11,746,000, an increase from $10,077,000 as of December 31, 2022, driven by higher accrued expenses and other payables[93]. Revenue Segmentation - Revenue from hotel and resort operations was $10,624 million, up from $5,841 million, representing an 81.5% increase year-over-year[51]. - The luxury retail segment generated $3,472 million in revenue, compared to $3,574 million in the previous year, indicating a slight decrease of 2.9%[51]. - The group’s hotels in Guam and Saipan reopened in Q4 2022, with cautious optimism regarding the recovery of leisure travel and operational performance[37]. - The hotel and resort segment generated revenue of approximately $10,683,000, an increase of $4,900,000 or 84.7% compared to the same period last year, primarily due to the reopening of Crowne Plaza Resort Guam and Crowne Plaza Resort Saipan[130]. Future Plans and Strategies - The company is exploring new strategies for market expansion and product development to address current financial challenges[14]. - The company plans to continue expanding its hotel and resort operations in Saipan and Guam, as well as its retail business in high-end leisure apparel and accessories[30]. - The group anticipates generating sufficient operating cash flow through measures such as accelerating the collection of trade receivables and controlling capital and operating expenditures[37]. - The company plans to open additional retail brand stores and upgrade hotel facilities, which may incur additional expenditures in the future[192]. Compliance and Governance - The company has maintained compliance with corporate governance codes throughout the reporting period[194]. - The audit committee has reviewed the interim financial data and found no discrepancies[193]. - The group has received financial support commitments from Tan Holdings to assist in repaying debts due in the foreseeable future[37].

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的內容概不負責，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分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：1832） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 告 本集團財務摘要 截至六月三十日止六個月 二零二三年 二零二二年 千美元 千美元 （未經審核）（未經審核） 收益 14,391 9,459 經營虧損 (10,929) (538) 本公司股東應佔虧損 (13,112) (493) 毛利率（本公司股東應佔虧損佔收益比率） -91.1% -5.2% 每股基本虧損（美仙） (3.6) (0.1) 海天地悅 旅集團有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其 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（「報告期間」） ...

Financial Performance - Revenue for the year 2022 was $15,751,000, a decrease of 20.6% compared to $19,801,000 in 2021[11] - Operating loss for 2022 was $12,472,000, compared to a loss of $6,247,000 in 2021, representing a 99.5% increase in losses[11] - Loss attributable to owners of the company was $11,425,000, which is 91.2% higher than the loss of $5,952,000 in the previous year[11] - The company recorded revenue of $15,751,000 for the year, a decrease of $4,050,000 or 20.5% compared to last year[34] - Saipan business revenue decreased by 45.8%, while Guam business saw a growth of 126.8%, marking its first increase since the pandemic[34] - The hotel and resort segment generated approximately $8,060,000 in revenue, a decrease of $7,174,000 or 47.1% compared to last year[40] - The destination services segment generated revenue of $243,000, an increase of $47,000 from the previous year, due to the successful travel bubble agreement with South Korea[50] - The company incurred a one-time write-off of approximately $530,000 for property, plant, and equipment related to Kanoa Resort's upcoming renovation and rebranding[41] - The total employee cost for the year was approximately $7.38 million, up from $6.08 million in 2021, reflecting an increase in full-time employees to 372 from 196[76] - The group reported a loss for the year, with financial status detailed on pages 104 to 169 of the annual report[99] Visitor Statistics - The number of visitors to CNMI and Guam increased significantly by approximately 661.0% and 313.7% respectively compared to 2021, reaching about 22.7% and 19.7% of pre-pandemic levels[17] - Guam recorded 328,446 visitors, representing 313.7% growth from 2021, with about 60.0% of visitors coming from South Korea[30] - CNMI recorded 96,521 visitors, a significant increase of 661.0% from the previous year, with over 77.0% of visitors from South Korea[30] Renovation and Rebranding - The Crowne Plaza Resort Saipan reopened after three years of closure, and the Crowne Plaza Resort Guam had a soft opening in November 2022, with a grand opening on March 28, 2023[18] - The company is planning to renovate and rebrand Kanoa Resort to "voco Resort Saipan" for future reopening[21] - The Crowne Plaza Resort Saipan had its renovation and rebranding completed and officially opened on October 31, 2022[33] - Crowne Plaza Resort Guam completed its renovation and upgrade works by mid-November 2022 and officially reopened on March 28, 2023[44] - Kanoa Resort is currently closed and is undergoing planning and design work for its renovation and rebranding to "voco Resort Saipan"[46] Strategic Initiatives - The company is closely monitoring global travel sentiment and market behavior to adjust its business plans and strategies for sustainable growth[22] - The company aims to enhance its brand image and market reputation in collaboration with the InterContinental Hotels Group[22] - The company has maintained its capital structure since its listing date, focusing on optimizing the balance between debt and equity to maximize shareholder returns[71] - The management continues to explore potential acquisition opportunities to sustain long-term growth and maximize shareholder value[63] - The group anticipates beneficial synergies from the management of Crowne Plaza Resort Saipan, Crowne Plaza Resort Guam, and Kanoa Resort under the InterContinental Hotels Group[59] Financial Position and Debt - As of December 31, 2022, the group had cash and bank deposits totaling approximately $3.45 million, a decrease of about $4.63 million from the previous year due to capital expenditures related to asset optimization[67] - The total capital expenditure for the asset optimization plan was approximately $32.13 million for the year[67] - As of December 31, 2022, the group had $43 million in interest-bearing term loans, an increase from $17 million the previous year, with a repayment schedule outlined over five years[69] - The group has entered into loan agreements totaling $13 million with Tan Holdings, with a 2% annual interest rate and varying repayment terms[70] - The company's capital debt ratio as of December 31, 2022, was 64.7%, a significant increase from 19.8% in 2021[71] - Total bank financing amounted to $48 million as of December 31, 2022, compared to $43 million in 2021, with no unused credit facilities reported for 2022[72] Operational Challenges - The group faces challenges in attracting and retaining skilled labor, which is essential for maintaining service quality and operational success[197] - The group’s business operations and performance are sensitive to macroeconomic and political environments, which may affect leisure travel and consumer spending levels[194] - The number of visitors to Saipan and Guam is crucial for the group’s business, heavily reliant on flight availability and pricing from key markets like mainland China, South Korea, and Japan[195] - The land lease for Kanoa Resort is set to expire on June 15, 2025, and failure to renew could significantly impact revenue and financial status[196] Related Party Transactions - The company has established a long-term cooperative model with Quanzhou Century Travel, which stabilizes sales and enhances hotel revenue[171] - The company has a significant reliance on Quanzhou Century Travel for room reservations and related services, which has been ongoing for over five years[171] - The company confirmed that all related transactions comply with the disclosure requirements of Chapter 14A of the Listing Rules[177] - Independent non-executive directors confirmed that the related transactions were conducted in the ordinary course of business and on fair commercial terms[180] Corporate Governance - The company appointed Mr. Huang as an independent non-executive director on December 16, 2022, following the unfortunate passing of Professor Chan Pak-Huan[152] - The board of directors will have one-third of its members retire at the upcoming annual general meeting, with all eligible retiring directors standing for re-election[153] - The company has not entered into any arrangements that would allow directors to benefit from acquiring shares or bonds of the company or any other corporation during the year[155] - The remuneration details for the directors and the five highest-paid individuals are disclosed in the consolidated financial statements[159]

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的內容概不負責，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分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：1832） 截至二零二二年十二月三十一日止年度 全年業績公告 本集團財務摘要 截至十二月三十一日 止年度 二零二二年 二零二一年 千美元 千美元 收益 15,751 19,801 經營虧損 (12,472) (6,247) 本公司擁有人應佔虧損 (11,425) (5,952) 毛利率（本公司擁有人應佔虧損佔收益比率） -72.5% -30.1% 每股基本虧損（美仙） (3.2) (1.7) ...

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的內容概不負責，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分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：1832） 截至二零二二年十二月三十一日止年度 全年業績公告 本集團財務摘要 截至十二月三十一日 止年度 二零二二年 二零二一年 千美元 千美元 收益 15,751 19,801 經營虧損 (12,472) (6,247) 本公司擁有人應佔虧損 (11,425) (5,952) 毛利率（本公司擁有人應佔虧損佔收益比率） -72.5% -30.1% 每股基本虧損（美仙） (3.2) (1.7) ...

Financial Performance - For the six months ended June 30, 2022, the company reported a revenue of $9,459,000, an increase from $8,387,000 in the same period of 2021, representing a growth of approximately 12.8%[19] - The company incurred a net loss of $545,000 for the six months ended June 30, 2022, compared to a net loss of $2,598,000 for the same period in 2021, indicating an improvement of approximately 79%[19] - Operating loss decreased to $538,000 for the six months ended June 30, 2022, from an operating loss of $2,537,000 in the prior year, reflecting a reduction of about 78.8%[19] - The company reported a loss attributable to owners of the company of $493,000 for the six months ended June 30, 2022, compared to a loss of $2,610,000 for the same period in 2021, representing an improvement of approximately 81%[21] - The company’s total comprehensive loss for the period was $545,000, compared to a total comprehensive loss of $2,764,000 in the prior year, indicating a substantial improvement[19] - Basic loss per share for the six months ended June 30, 2022, was $(0.1), compared to $(0.7) in 2021, showing an improvement in loss per share[82] Revenue Breakdown - Revenue from the hotel and resort segment was $5,783,000, while the high-end travel retail segment generated $3,574,000, and the destination services segment contributed $102,000[60] - Revenue from high-end leisure clothing and accessories increased to $3,574,000 in 2022 from $1,797,000 in 2021, marking a growth of approximately 99.0%[66] - Contract revenue from Saipan was $6,344,000, a decrease from $6,693,000 in 2021, while Guam's contract revenue increased to $2,283,000 from $967,000[69] - The hotel and resort segment generated revenue of approximately $5,783,000, a decrease of $739,000 or 11.3% compared to the same period last year, mainly due to a reduction in the number of travelers under mandatory quarantine[146] - The high-end travel retail segment achieved revenue of $3,574,000, an increase of $1,777,000 or 98.9% compared to $1,797,000 in the same period last year, reflecting a gradual recovery in the local and tourism market[151] - The destination services segment reported revenue of $102,000, an increase of $34,000 compared to the previous year, but incurred a loss of $191,000 due to ongoing temporary closures of some operations[154] Expenses and Liabilities - Financial costs for the period were $464,000, slightly down from $470,000 in the previous year, showing a marginal decrease of about 1.3%[19] - Employee benefit expenses were reduced to $1,798,000 from $3,349,000, marking a decrease of approximately 46.3%[19] - The company reported a total of $9,998,000 in operating expenses for the six months ended June 30, 2022, down from $10,920,000 in 2021[72] - Total liabilities rose to $64,255,000 as of June 30, 2022, compared to $51,157,000 as of December 31, 2021, indicating an increase of approximately 25.5%[26] - The company had a net current liability of $21,594,000 as of June 30, 2022, which raises significant doubt about the company's ability to continue as a going concern[16] - The group’s trade and other payables decreased from $13,705,000 as of December 31, 2021, to $10,445,000 as of June 30, 2022, a reduction of approximately 23.5%[117] Assets and Equity - Total assets increased to $149,381,000 as of June 30, 2022, up from $136,828,000 as of December 31, 2021, reflecting a growth of about 9.5%[24] - The company’s total equity attributable to owners decreased to $85,126,000 as of June 30, 2022, from $85,671,000 as of December 31, 2021, a decline of about 0.6%[24] - Non-current assets increased to $124,794,000 as of June 30, 2022, from $109,721,000 as of December 31, 2021, reflecting an increase of approximately 13.7%[24] - The total cost of property, plant, and equipment as of June 30, 2022, was $145,676,000, with accumulated depreciation of $72,051,000[89] - The company’s cash and cash equivalents as of June 30, 2022, were $2,382,000, an increase from $1,794,000 as of December 31, 2021[108] Financing and Capital Commitments - The company has a bank loan of $34,000,000 due to be repaid starting September 2023, which is part of the total bank financing of $43,000,000[16] - The group has a capital commitment related to renovations amounting to $8,887,000, expected to be settled in the second half of the fiscal year ending December 31, 2022[41] - The group’s bank borrowings amounted to $34,000,000 as of June 30, 2022, a significant increase from $17,000,000 as of December 31, 2021, representing a 100% increase[120] - The group’s bank financing remained stable at $43,000,000 as of June 30, 2022, unchanged from December 31, 2021[123] - The group recorded rental income from related parties of $939,000 for the six months ended June 30, 2022, compared to $441,000 for the same period in 2021, representing an increase of 112.5%[127] Future Outlook and Strategic Initiatives - The group anticipates completing renovations in the second half of 2022, which is crucial for the reopening of hotels, dependent on the development of the COVID-19 pandemic[44] - The group is considering obtaining additional funding sources as needed to improve its financial condition and support operations[44] - The group continues to focus on renovation and upgrading projects for CP Guam and CP Saipan, with expectations to reopen under the "Crowne Plaza Resort" brand in the third to fourth quarter of 2022[149] - The group is exploring potential acquisition opportunities to ensure long-term growth and maximize benefits for shareholders[172] - The group anticipates a sustainable recovery in the global tourism industry, supported by high vaccination rates and effective COVID-19 treatments[167]

Financial Performance - The company's revenue for the fiscal year 2021 was $19.801 million, a decrease of 51.4% from $40.784 million in 2020[11]. - Operating loss for 2021 was $6.247 million, improving from a loss of $12.194 million in 2020[11]. - Loss attributable to owners of the company was $5.952 million, compared to $9.320 million in the previous year, representing a reduction of 36.5%[11]. - The company reported a loss margin of -30.1% on revenue for 2021, compared to -22.9% in 2020[11]. - Revenue from the company's operations in Saipan and Guam decreased by 40.7% and 81.1% respectively, primarily due to the ongoing impact of COVID-19 and the closure of CP Guam and CP Saipan for renovations[36]. - The company achieved an operating loss of approximately $6.3 million, a reduction of about $5.9 million compared to last year's operating loss of $12.2 million[39]. - The hotel and resort segment generated revenue of approximately $15.2 million, a decrease of $14.9 million or 49.5% compared to last year, primarily due to the closure of CP Guam and CP Saipan for renovations[42]. - The luxury travel retail segment reported revenue of $4.4 million, down $5.7 million or 56.4% year-over-year, mainly due to the ongoing global travel market downturn[47]. - The destination services segment generated revenue of $200,000, a decrease of $400,000, with a loss of $200,000 due to the continued suspension of operations[49]. Renovation and Upgrades - The company has focused on the renovation and upgrade of Crowne Plaza Resort Guam and Crowne Plaza Resort Saipan during the pandemic[21]. - Renovation progress was delayed due to temporary shutdowns of furniture manufacturers and material suppliers in Vietnam and the U.S.[21]. - The renovation of CP Guam was temporarily halted due to the discovery of artifacts and human remains during the demolition process[21]. - The company expects the rebranding and reopening of CP Guam and CP Saipan to occur in the second to third quarter of 2022, pending final confirmation from hotel management[21]. - The company has resumed renovation and upgrade works at its hotels, complying with guidelines from the Guam National Historic Preservation Office[21]. - CP Saipan's renovation and upgrade project is expected to be completed by Q2 to Q3 2022, aiming to reposition the hotel to a high-end market[43]. - CP Guam's renovation and upgrade project will increase room supply from 318 to 321 rooms, with a planned reopening under the "Crowne Plaza Resort Guam" brand in Q2 to Q3 2022[46]. - The company entered into construction contracts for renovation projects at CP Guam and CP Saipan, part of the asset optimization plan, with expected completion in Q2 to Q3 2022[50][51]. Market Conditions and Recovery - As of the report date, vaccination rates in key markets such as South Korea and mainland China have reached over 85%[18]. - Vaccination rates in South Korea and mainland China exceeded 85%, while Japan's rate reached about 80%, facilitating the return of tourists to CNMI and Guam[31]. - The CNMI government launched the TRIP initiative to attract flights back to Saipan, establishing a travel bubble agreement with South Korea by the end of the year[32]. - The company anticipates an increase in Korean tourists due to the ongoing travel bubble agreement with South Korea, with seven airlines expressing interest in direct flights to Saipan[59]. - The management is optimistic about the recovery of the tourism industry, driven by higher vaccination rates and the adoption of "living with the virus" policies by various governments[58]. - The development of new COVID-19 therapies and the introduction of oral antiviral medications by pharmaceutical companies provide hope for recovery in the travel sector[22]. Financial Management and Capital Expenditure - The capital expenditure for the renovations of CP Guam, CP Saipan, and Kanoa Resort will be funded through a combination of proceeds from the IPO, internal resources, and external financing[62]. - The company secured $43 million in new bank financing to fund its asset optimization plan, with $17 million allocated for ongoing renovations and upgrades at CP Guam and CP Saipan[69]. - The capital expenditure for the asset optimization plan during the year was approximately $48.1 million[69]. - As of December 31, 2021, the total cash and bank deposits of the company amounted to approximately $8.1 million, a decrease of about $30.1 million compared to December 31, 2020, primarily due to capital expenditures for the asset optimization plan[69]. - The company has utilized $14,933,000 of the net proceeds by December 31, 2021, leaving an unutilized amount of $4,403,000[130]. - The estimated total capital expenditure and expenses as of December 31, 2023, is $101,178,000, with $29,555,000 allocated from the net proceeds of the listing[130]. Corporate Governance and Management - The company has established various communication channels to enhance transparency and maintain investor relations, including timely press releases and updates on its website[66]. - The company has a strong board of directors with members holding significant positions in various community organizations and businesses, enhancing its market presence[78][79][81][83]. - The board includes independent directors with extensive experience in finance and hospitality, ensuring robust governance and strategic oversight[84][86]. - The company is committed to enhancing its operational efficiency and exploring new business opportunities in the hospitality sector[82][86]. - The executive team is well-educated, with degrees from reputable institutions, contributing to the company's strategic direction and operational success[81][84][86]. - The company has been led by Dr. Henry Chan as Executive Director and CEO since November 2018, bringing over 40 years of experience in business operations across mainland China, Hong Kong, and the Pacific region[78]. - The company has established strong relationships within the community, which aids in its business development and market insights[78][79]. Employee Management - The total employee costs for the year amounted to $6.1 million, a decrease from $13.6 million in 2020, reflecting a reduction in workforce during the pandemic[75]. - The company had 196 full-time employees as of December 31, 2021, down from 206 in 2020, due to cost-saving measures during temporary closures[75]. - Employee management focuses on competitive compensation and effective performance evaluation systems to reward outstanding employees[108]. Related Party Transactions - The company reported related party transactions totaling $1,140,000 with CTSI Group for freight and logistics services, which is within the annual cap of $1,219,000[176]. - The company has a long-term cooperative model with Quanzhou Century Travel, which stabilizes sales and enhances hotel revenue, mitigating risks associated with seasonal declines in the Saipan leisure tourism market[179]. - The company’s related party transactions do not require independent shareholder approval under the Listing Rules, except for certain non-exempt continuing connected transactions[175]. - The company has established long-term relationships with TakeCare, Cosmos Guam, D&Q, and CTSI, which are expected to enhance operational efficiency and cost-effectiveness[181][185][188]. Shareholder Information - The group aims to create maximum returns for shareholders while ensuring sustainable profit growth and stable dividend returns[109]. - The top five customers accounted for 74.1% of the group's total revenue, with the largest customer contributing 73.5%[111]. - The company has distributable reserves amounting to $90,500,000 as of December 31, 2021[134]. - No interim dividend was declared for the year, consistent with the previous year[98]. - The company has not declared any final dividends for the year, maintaining the same stance as the previous year[98].