Financial Performance - For the six months ended September 30, 2023, total revenue was HKD 153,448,000, a decrease of 3.8% from HKD 158,273,000 in the same period of 2022[2] - Gross profit for the same period was HKD 104,677,000, down from HKD 113,885,000, reflecting a decrease of 8.5%[2] - The operating profit before changes in the fair value of investment properties was HKD 94,505,000, compared to HKD 93,755,000 in the previous year, indicating a slight increase of 0.8%[2] - The profit for the period was HKD 461,866,000, a significant recovery from a loss of HKD 1,118,536,000 in the same period last year[2] - Basic and diluted earnings per share for the period were HKD 0.49, compared to a loss of HKD 1.17 per share in the previous year[2] - For the six months ended September 30, 2023, the group's profit attributable to equity shareholders was HKD 233,400,000, compared to a loss of HKD 556,900,000 in the same period last year[61] Assets and Liabilities - The total assets as of September 30, 2023, amounted to HKD 8,730,236,000, an increase from HKD 8,348,399,000 as of March 31, 2023[18] - The total liabilities were HKD 320,072,000, consistent with HKD 315,982,000 from the previous reporting period[18] - The company's equity totalled HKD 8,410,164,000, up from HKD 8,032,417,000 as of March 31, 2023[18] - The total accounts receivable (net of credit loss provisions) as of September 30, 2023, was HKD 121,541,000, down from HKD 136,566,000 as of March 31, 2023[33] - The accounts receivable, including rental incentives, amounted to HKD 96,386,000 as of the reporting date[56] Rental Income and Property Valuation - Rental income from the International Plaza for the six months ended September 30, 2023, was approximately HKD 145,900,000, a decrease of about 4.1% compared to the same period last year[37] - For the six months ended September 30, 2023, the net valuation profit from investment properties was HKD 386,100,000, compared to a net valuation loss of HKD 1,195,100,000 in the same period last year[36] - The occupancy rate of the International Plaza as of September 30, 2023, was approximately 80.0%, compared to 77.3% on the same date last year[37] - The group continues to generate rental income from investment properties, including four floors at Lai Chi Kok and one floor in a commercial building in Guangzhou, China[62] Interest and Foreign Exchange - Interest income for the period was HKD 11,475,000, compared to HKD 3,240,000 in the previous year, reflecting an increase of 254.5%[9] - The company reported a net foreign exchange loss of HKD 2,091,000, an improvement from a loss of HKD 3,960,000 in the previous year[9] Corporate Governance and Compliance - The company has confirmed that all directors have complied with the standards set forth in the listing rules for the six months ended September 30, 2023[46] - The group has established a comprehensive control environment to enhance risk management and internal control systems, including biannual risk assessments[55] - The company has not established an internal audit function but has sufficient risk management and internal control measures in place[54] - The group has no immediate need to establish an internal audit function based on its current operations and management oversight[54] Dividends and Shareholder Returns - The interim dividend declared is HKD 0.06 per share, up from HKD 0.04 per share in the previous year[59] Future Outlook - The group anticipates stable rental income and operational performance for the second half of the year despite challenges in the retail market[41] Financing and Debt - As of September 30, 2023, the group has utilized a total bank loan amount of HKD 200,000,000, maintaining a capital debt ratio of 2.4%[63] - The company has extended the financing agreement with the bank, allowing for a potential further extension of two years until October 8, 2026[63] Employee Information - The number of employees as of September 30, 2023, is 36, with related expenses approximately HKD 13,000,000[64] Segment Information - The group only has one reportable segment, which is "Property Leasing," and the segment information aligns with the consolidated figures[27] - The group has not adopted any new accounting standards or interpretations that are not yet effective during the current accounting period[22]
天德地产(00266) - 2024 - 中期业绩