HKR INT'L(HK:00480)2019-12-02 09:14Financial Performance - The group's unaudited revenue for the six months ended September 30, 2019, was HKD 1,903.1 million, a decrease of 17.5% compared to HKD 2,306.2 million in the same period last year[8]. - Profit attributable to shareholders for the period was HKD 939.2 million, down 7.9% from HKD 1,020.1 million year-on-year[8]. - Basic earnings per share for the period were HKD 0.632, compared to HKD 0.687 in the previous year[8]. - The group reported a significant decrease in other comprehensive income, with a total of HKD (456.7) million compared to HKD (972.4) million in the previous period[60]. - The net profit for the period was HKD 968.0 million, down 15.7% from HKD 1,148.6 million year-on-year[60]. - The total comprehensive income for the period was HKD 511.3 million, significantly up from HKD 176.2 million in the prior year[60]. - The company's cumulative profit increased to HKD 9,722.3 million, up by 2.4% from HKD 9,952.2 million[64]. - The company reported a total segment revenue of HKD 3,728.5 million, with property development contributing HKD 2,118.1 million and property investment contributing HKD 1,114.1 million[101]. Assets and Liabilities - Total assets as of September 30, 2019, amounted to HKD 37,001.3 million, an increase from HKD 33,723.8 million a year earlier[6]. - Total liabilities increased to HKD 12,643.6 million from HKD 11,284.8 million year-on-year[6]. - The group's non-current assets amounted to HKD 25,277.6 million, while current assets were HKD 6,607.3 million[54]. - Total liabilities included current liabilities of HKD 14,611.3 million and non-current liabilities of HKD 13,417.8 million[54]. - The company's equity attributable to owners rose to HKD 21,709.8 million from HKD 21,300.4 million, an increase of 1.9%[62]. - The group's total liabilities decreased from HKD 11,717.5 million as of March 31, 2019, to HKD 10,967.1 million as of September 30, 2019, reflecting a reduction of approximately 6.4%[121]. Investment Properties - The property development and investment segment generated revenue of HKD 2,319.5 million, including HKD 912.7 million from joint ventures and associates[12]. - The fair value of investment properties increased to HKD 13,642.8 million as of September 30, 2019, compared to HKD 11,780.6 million as of September 30, 2018, reflecting a growth of about 15.8%[111]. - The fair value gain on investment properties for the six months ended September 30, 2019, was HKD 560.0 million, significantly higher than HKD 103.2 million for the same period in 2018, representing a year-over-year increase of approximately 442.7%[121]. - The group's investment properties were valued at HKD 22,552.0 million as of September 30, 2019, down from HKD 22,779.7 million as of March 31, 2019, indicating a decrease of about 1.0%[121]. Dividends and Shareholder Equity - The company declared an interim dividend of HKD 0.05 per share, up from HKD 0.04 per share in the same period last year[9]. - The group reported a shareholder equity increase of HKD 409.4 million to HKD 21,709.8 million as of September 30, 2019, compared to HKD 21,300.4 million on March 31, 2019[30]. - The total number of shares held by directors and their associates amounted to approximately 727,828,090 shares, representing about 49.00% of the issued share capital[41]. Cash Flow and Financing - The net cash generated from operating activities was HKD 976.2 million, an increase of 15.5% from HKD 845.6 million year-on-year[67]. - The company reported a net cash outflow from investing activities of HKD 781.3 million, compared to an inflow of HKD 211.5 million in the previous period[67]. - The company raised HKD 1,600.0 million in new bank and other loans, a significant increase from HKD 17.3 million in the previous period[67]. - The group's cash and cash equivalents decreased to HKD 645.9 million as of September 30, 2019, from HKD 983.7 million as of March 31, 2019, a decline of about 34.3%[121]. Market and Economic Outlook - The group plans to remain flexible and cautious in response to global economic uncertainties, including the US-China trade tensions and potential Brexit impacts[28]. - The group aims to leverage opportunities in the Yangtze River Delta region despite challenges in the Chinese economy, particularly in the real estate market[29]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[68]. Corporate Governance - The company has fully complied with the corporate governance code, except for a minor deviation regarding the attendance of the chairman at the annual general meeting[47]. - The company has a remuneration committee chaired by Mr. Cheung Wing Lam Linus[145]. - The company has a nomination committee chaired by Mr. Cha Mou Sing Payson[145]. - The audit committee is chaired by Mr. Tang Kwai Chang[145].