联合集团(00373) - 2023 - 中期业绩

Financial Performance - For the six months ended June 30, 2023, the total revenue was HKD 3,512.9 million, an increase of 2.8% compared to HKD 3,418.2 million for the same period in 2022[4]. - The company reported a loss before tax of HKD 562.1 million for the period, compared to a loss of HKD 1,150.8 million in the previous year, indicating a significant improvement[5]. - Basic loss per share for the period was HKD (0.05), an improvement from HKD (0.17) in the same period last year[5]. - Other comprehensive expenses for the period totaled HKD 1,155.5 million, a decrease from HKD 2,208.0 million in the previous year, reflecting a reduction in losses[6]. - The company reported a significant increase in financial liabilities measured at fair value through profit or loss, totaling HKD 26,094.5 million, compared to HKD 23,638.2 million, an increase of approximately 10.4%[8]. - The company achieved a pre-tax profit of HKD 203.0 million, a significant recovery from a pre-tax loss of HKD 377.9 million in the previous year[18]. - The group reported a loss attributable to shareholders of HKD 287.5 million for the period, compared to a loss of HKD 401.2 million in the same period last year[56]. - The consumer finance segment, Asia United Finance, reported a profit attributable to shareholders of HKD 407.5 million, down from HKD 526.4 million in the previous year[56]. Assets and Liabilities - Non-current assets amounted to HKD 68,535.0 million as of June 30, 2023, down from HKD 70,777.8 million at the end of 2022[7]. - As of June 30, 2023, total assets amounted to HKD 85,129.3 million, a decrease from HKD 89,611.8 million as of December 31, 2022, representing a decline of approximately 5.4%[8]. - Current liabilities, including trade payables and other payables, totaled HKD 2,389.4 million, compared to HKD 2,897.4 million in the previous period, indicating a reduction of about 17.5%[8]. - Non-current liabilities decreased to HKD 18,963.9 million from HKD 21,405.1 million, a reduction of approximately 11.4%[8]. - The total equity was HKD 66,165.4 million, down from HKD 68,206.7 million, indicating a decline of about 3.0%[8]. - The company's total bank and other borrowings amounted to HKD 23,686.7 million, down from HKD 24,137.1 million as of December 31, 2022[46]. Cash Flow and Liquidity - The company’s cash and cash equivalents were HKD 14,013.0 million, an increase from HKD 11,413.1 million at the end of 2022, indicating improved liquidity[7]. - The company's cash flow management policies ensure that capital requirements for investments and operations are met, maintaining a prudent liquidity ratio[45]. - As of June 30, 2023, the company's cash and bank balances were approximately HKD 16,648.2 million, an increase from HKD 15,538.4 million as of December 31, 2022[46]. - The current ratio of the company is 1.64, compared to 1.80 as of December 31, 2022[46]. Strategic Initiatives - The company plans to focus on market expansion and new product development in the upcoming quarters, aiming to enhance its competitive position[6]. - The company is exploring potential mergers and acquisitions to drive growth and diversify its portfolio[6]. - Future guidance indicates a cautious optimism, with expectations of gradual recovery in market conditions and improved operational performance[6]. - The company plans to continuously review its bank credit facilities to meet capital commitments and operational funding needs[48]. Tax and Compliance - The company has applied new accounting standards that may impact the financial reporting but indicated no significant effect on the financial position or performance during the reporting period[12]. - The company is preparing to disclose information related to the OECD's Pillar Two tax rules in future financial statements, which may affect tax liabilities[15]. - The company's auditor has issued an unqualified opinion on the financial statements, confirming compliance with relevant regulations[9]. Segment Performance - The segment revenue from financial services was HKD 1,628.6 million, while property development generated HKD 750.3 million, and property investment contributed HKD 440.9 million[17]. - The segment performance for property management was HKD 6.3 million, while elder care services reported a loss of HKD 6.6 million[17]. - The revenue from completed property sales was HKD 750.3 million, contributing significantly to the overall revenue for the period[20]. - The group's property portfolio in Hong Kong maintained stable rental income compared to the previous year[57]. Employee and Market Conditions - As of June 30, 2023, the total number of employees in the group was 3,545, down from 3,930 on December 31, 2022[61]. - The group anticipates continued challenges in the second half of 2023 but remains committed to a prudent strategy to benefit shareholders[62]. - The People's Bank of China lowered the one-year Loan Market Rate by 20 basis points to 3.45% and the five-year Loan Market Rate by 10 basis points to 4.20%, which is expected to alleviate the financial burden on the real estate sector[62].