新世纪集团(00234) - 2021 - 中期财报

Financial Performance - Revenue for the six months ended September 30, 2020, was HK$41,858,000, a decrease of 47.5$79,857,000 in the same period of 2019[27] - Gross profit for the period was HK$32,556,000, down 54.0$70,607,000 year-on-year[27] - The company reported a loss before tax of HK$76,419,000, compared to a profit of HK$37,592,000 in the previous year[27] - Profit for the period attributable to owners of the company was a loss of HK$59,072,000, compared to a profit of HK$12,018,000 in the same period last year[27] - Basic and diluted loss per share was HK$1.02 cents, compared to earnings of HK$0.21 cents per share in the previous year[27] - Other income decreased to HK$2,566,000 from HK$9,152,000, reflecting a decline of 71.9%[27] - Administrative and operating expenses increased to HK$36,747,000 from HK$24,576,000, an increase of 49.4%[27] - The company reported a loss of HK$81,392,000 for the six months ended September 30, 2020, compared to a profit of HK$32,680,000 in the same period of 2019[28] - Total comprehensive loss for the period amounted to HK$67,949,000, with owners of the company attributing a loss of HK$48,206,000[28] - The company recorded an exchange difference gain of HK$13,275,000 from foreign operations, compared to a loss of HK$7,270,000 in the previous year[28] - The total comprehensive income for the period was a loss of HK$48,206,000, which includes an exchange difference of HK$10,378,000 from foreign operations[33] - The company reported a deficit on the revaluation of cruise ships amounting to HK$479,000[33] - The Group's profit before tax for the six months ended 30 September 2020 was a loss of HK$59,072,000, compared to a profit of HK$12,018,000 for the same period in 2019[93] Assets and Liabilities - Non-current assets decreased to HK$989,420,000 as of September 30, 2020, down from HK$1,024,658,000 as of March 31, 2020[29] - Current assets totaled HK$1,137,444,000, slightly down from HK$1,143,998,000 in the previous period[29] - Current liabilities increased to HK$156,088,000 from HK$129,171,000, indicating a rise in short-term financial obligations[29] - Net current assets decreased to HK$981,356,000 from HK$1,014,827,000, reflecting a decline in liquidity[31] - Total assets were reported at HK$1,970,776,000, down from HK$2,039,485,000, indicating a reduction in overall asset base[31] - The company's equity attributable to owners decreased to HK$1,569,021,000 from HK$1,617,227,000, showing a decline in shareholder equity[31] - Cash and cash equivalents at the end of the period were HK$412,091,000, down from HK$546,192,000 in 2019, reflecting a decrease of approximately 24.6$217,893,000, with an aggregate carrying amount of pledged assets including land and buildings at HK$311,121,000, trade receivables at HK$1,396,000, and equity investments at HK$64,467,000[182] - The Group's net current assets were HK$981,356,000, and equity attributable to owners of the Company was HK$1,569,021,000 as of September 30, 2020[182] Cash Flow and Investments - Cash generated from operations was a negative HK$17,697,000, a decrease from HK$236,850,000 in the same period of 2019[71] - Net cash flows used in investing activities amounted to HK$12,161,000, compared to HK$246,591,000 in 2019, indicating a reduction in investment outflows[72] - The acquisition of a subsidiary in 2019 resulted in cash outflows of HK$457,640,000, which did not recur in 2020[72] - The Group's loan and interest receivables increased to HK$722,986,000 as of 30 September 2020, up from HK$690,433,000 as of 31 March 2020[115] - The fair value of equity investments at fair value through profit or loss increased to HK$64,467,000 as of September 30, 2020, up from HK$14,119,000 as of March 31, 2020[139] Segment Performance - The Group is organized into four reportable operating segments: money lending, cruise ship charter services, property investments, and securities trading[81] - Revenue from secured mortgage loans and unsecured personal loans increased to HK$37,008,000 in 2020 from HK$35,720,000 in 2019, representing a growth of 3.6%[87] - Cruise ship charter service income was HK$8,423,000 in 2020, down from HK$37,459,000 in 2019, indicating a decline of 77.5%[87] - The cruise ship charter services segment recorded a loss of HK$80,040,000 for the current period, a significant decline from a profit of HK$26,963,000 in the previous period[175] - Rental relief of at least 10% was granted to tenants, leading to a 16.6% decrease in segment revenue from property investments to HK$8,423,000 for the current period[176] Government Support and Subsidies - The company recognized government subsidies of HK$1,461,000 during the period, which were part of the Employment Support Scheme[86] - The Group received a government subsidy of HK$705,000 under the Employment Support Scheme, compared to Nil in 2019[173] Share Capital and Equity - The total number of issued shares of the Company was 5,780,368,705[199] - The Group had 386,640,000 share options outstanding at the end of the reporting period, which represented approximately 6.7$10,020,000, slightly down from HK$10,059,000 in 2019[190] - Directors' total interests in shares and underlying shares amounted to 3,881,125,691, representing 67.14% of the Company's issued share capital[195] Risk Management - The Group is exposed to equity price risk from trading equity investments, which are valued at quoted market prices at the end of the reporting period[185] - Credit risk is mitigated by conducting transactions with high-quality customers and obtaining sufficient collaterals where appropriate[186] - The Group's management considers the credit risk from secured mortgage loans to be significantly mitigated by the properties held as collateral[190]