Financial Performance - For the six months ended January 31, 2021, the company reported revenue of HKD 1,554,721,000, a significant increase from HKD 599,898,000 in the same period last year, representing a growth of approximately 159%[3] - The gross profit for the same period was HKD 290,582,000, down from HKD 312,049,000 year-on-year, indicating a decrease of about 7%[3] - Operating loss narrowed to HKD 59,362,000 compared to a loss of HKD 249,786,000 in the previous year, showing an improvement of approximately 76%[3] - The company incurred a total loss of HKD 494,095,000 for the period, which is an improvement from a loss of HKD 570,790,000 in the prior year, reflecting a reduction of about 13%[5] - Other income and gains increased to HKD 54,964,000 from HKD 30,526,000, marking an increase of approximately 80%[3] - The financing costs rose to HKD 186,318,000 from HKD 115,477,000, representing an increase of about 61%[3] - The company reported a foreign exchange gain of HKD 1,705,911,000, a significant turnaround from a loss of HKD 424,811,000 in the previous year[5] - Total comprehensive income for the period was HKD 1,213,073,000, compared to a loss of HKD 995,610,000 in the same period last year, indicating a substantial recovery[5] - The company’s basic and diluted loss per share was HKD 1.348, slightly improved from HKD 1.351 in the previous year[3] Assets and Liabilities - Total non-current assets increased to HKD 24,222,784,000 from HKD 22,425,560,000, representing an increase of approximately 8%[8] - Current assets rose to HKD 10,851,823,000 compared to HKD 8,532,774,000, marking a growth of around 27%[8] - Total liabilities remained stable with current liabilities at HKD 6,723,661,000, slightly down from HKD 6,725,324,000[8] - Net current assets improved significantly to HKD 4,128,162,000 from HKD 1,807,450,000, indicating a growth of over 128%[8] - Total equity attributable to owners increased to HKD 15,522,287,000 from HKD 14,309,099,000, reflecting an increase of approximately 8.5%[10] - The total value of non-current liabilities rose to HKD 12,718,194,000 from HKD 9,813,488,000, an increase of about 29%[8] Cash Flow - The net cash flow from operating activities for the six months ended January 31, 2021, was HKD 874,300,000, a turnaround from a cash outflow of HKD 298,903,000 in the same period of 2020[19] - The company recorded a net cash flow from financing activities of HKD 1,132,738,000, compared to HKD 703,658,000 in the previous year, reflecting an increase of approximately 60.9%[19] - The cash and cash equivalents at the end of the period increased to HKD 2,290,979,000 from HKD 1,249,053,000, marking a growth of about 83.4%[19] - The company’s cash and cash equivalents increased to HKD 2,290,979,000 from HKD 1,193,956,000, a growth of approximately 92%[8] Revenue Sources - Revenue from customer contracts amounted to HKD 992,787,000, compared to HKD 322,046,000 in the previous year, indicating a growth of about 208.5%[26] - The company generated rental income from investment properties amounting to HKD 282,702,000, compared to HKD 277,852,000 in the previous year, showing a slight increase[26] - Total revenue for the year 2021 reached HKD 1,564,300,000, an increase from HKD 609,916,000 in 2020[31] - The group recorded a revenue of HKD 1,554.7 million for the six months ending January 31, 2021, representing an increase of approximately 159.2% compared to the previous year[93] Property Development and Leasing - The company has engaged in various new accounting standards and policies, which did not have a significant impact on the reported performance or financial position[23] - The company is actively pursuing market expansion opportunities in the Greater Bay Area, particularly in Hengqin, which is positioned as a core city in Guangdong Province[127] - The group recorded property development revenue of HKD 1,095,800,000 for the six months ended January 31, 2021, representing an increase of 525.5% compared to the same period last year[141] - The company has ongoing development projects, including the second phase of Innovation Square, which is expected to cover approximately 1,898,725 square feet upon completion[183] Market Outlook and Strategy - The company plans to continue focusing on market expansion and new product development to drive future growth[3] - The company remains optimistic about the long-term business environment in China, driven by the government's dual circulation development model[76] - Future outlook includes continued investment in property development and potential acquisitions to strengthen the portfolio and drive revenue growth[127] Corporate Governance - The company has not established a nomination committee, with its functions being undertaken by the entire board of directors[192] - The board of directors consists of 14 members, including 7 executive directors and 5 independent non-executive directors, ensuring diversity in gender, nationality, and professional background[193] - The company has adopted a share option scheme to recognize the contributions of eligible participants, including directors and employees, which will remain effective for ten years from the adoption date[200] - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules, with minor deviations noted[190]
丽丰控股(01125) - 2021 - 中期财报