Financial Performance - For the six months ended September 30, 2023, the company reported revenue of HKD 125,427,000, an increase from HKD 118,089,000 in the same period last year, representing a growth of approximately 2.27%[20] - The net profit for the same period was HKD 27,579,000, significantly higher than HKD 11,818,000 in the previous year, indicating an increase of approximately 133.5%[22] - The operating profit for the six months ended September 30, 2023, was HKD 386,602, compared to HKD 81,247 for the same period in 2022, indicating a significant increase[41] - Total comprehensive income for the period was HKD 3,150, a recovery from a loss of HKD 93,094 in the same period last year[44] - The company reported a revenue of HKD 125,427,000 for the current period, an increase of 6.4% from HKD 118,089,000 in the previous year[73] - The operating profit for the current period was HKD 86,602,000, compared to HKD 81,247,000 in the previous year, reflecting a growth of 6.5%[73] - The group recorded a net profit of HKD 27,600,000 for the six-month period, compared to HKD 11,800,000 in the previous year[96] Rental and Property Management - The company maintained a stable rental rate of 96% for its property located in Central Hong Kong, consistent with the previous year's performance[9] - Revenue from property management services reached HKD 20,153 for the six months ended September 30, 2023, up from HKD 16,773 in the previous year, reflecting a growth of 20.6%[56] - Rental income from property leasing was HKD 96,020 for the six months ended September 30, 2023, compared to HKD 94,135 in the previous year, showing a modest increase of 2%[56] - The rental income from property leasing was HKD 96,020,000, up from HKD 94,135,000 in the previous year, representing a growth of 2.0%[79] - The rental rate for the Jian Sheng Plaza in Hong Kong increased to 76% as of September 30, 2023, from 58% in the previous year[97] - The rental income from the property at 68 Yee Wo Street, Causeway Bay, was HKD 49,800,000, with a rental rate of 86%, up from 81% year-on-year[98] Investment Properties - The fair value of investment properties increased by HKD 25,100,000 during the period, compared to an increase of HKD 16,378,000 in the prior year[21] - The fair value change of investment properties was HKD 25,100,000, significantly higher than HKD 16,378,000 in the previous year, marking an increase of 53.2%[73] - The group’s investment properties recorded a fair value increase of HKD 25,100,000, compared to an increase of HKD 16,400,000 in the previous year[96] Financial Position - Total assets as of September 30, 2023, were HKD 11,116,561,000, slightly down from HKD 11,140,635,000 at the end of the previous reporting period[28] - The company's total liabilities decreased to HKD 2,441,898,000 from HKD 2,469,122,000, reflecting a reduction in financial obligations[30] - The total equity as of September 30, 2023, was HKD 8,674,663, slightly up from HKD 8,671,513 as of March 31, 2023[48] - The group's cash and bank balances as of September 30, 2023, were HKD 214,900,000, down from HKD 262,800,000 as of March 31, 2023[119] - The total liabilities to total assets ratio is 20.5%, and the net debt to total assets ratio is 18.6% as of September 30, 2023[120] Financial Expenses - The company's financial expenses rose to HKD 56,773,000 from HKD 21,942,000, indicating a substantial increase in borrowing costs[21] - The financial costs, including bank loan interest, totaled HKD 56,773 for the current period, significantly higher than HKD 21,942 in the previous year, reflecting increased borrowing costs[56] - The group recorded a loss of HKD 47,800,000 from its joint venture during the interim period, primarily due to interest on loans and pre-opening expenses[116] - The financial expenses rose significantly from HKD 21,900,000 in the previous year to HKD 56,800,000 in the current period due to rising interest rates[96] Market Challenges - The company is facing challenges in the Hong Kong commercial office market due to slower-than-expected economic recovery and geopolitical factors, impacting rental rates and occupancy[8] - The company noted that consumer spending in China is primarily focused on low-cost goods and services, avoiding large expenditures on apartments and cars[89] Corporate Governance - The company is committed to maintaining high levels of corporate governance to safeguard shareholder interests and enhance corporate value[126] - The board does not recommend the distribution of any interim dividend for the six months ended September 30, 2023[124] - The company did not recommend any interim dividend for the period ending September 30, 2023, consistent with the previous year[82] Other Financial Metrics - Interest income from financial assets measured at amortized cost increased to HKD 4,566, compared to HKD 1,305 in the previous year, marking a growth of 250.5%[56] - The company reported a deferred tax expense of HKD (1,961) for the period, compared to HKD (5,772) in the previous year, indicating improved tax efficiency[42] - Earnings per share for the period amounted to HKD 18,098,000, compared to HKD 2,821,000 in 2022, with 1,154,038,656 shares issued during both periods[62] - As of September 30, 2023, accounts receivable totaled HKD 3,466,000, down from HKD 3,840,000 as of March 31, 2023, indicating a decrease of approximately 9.7%[63]
建生国际(00224) - 2024 - 中期业绩