Financial Performance - For the six months ended September 30, 2023, the group's operating profit before changes in property valuation was HKD 93,000,000, a decrease of approximately 3.1% compared to the same period last year, primarily due to a reduction in rental income from the international plaza[13]. - For the six months ended September 30, 2023, the profit attributable to equity shareholders was HKD 457,100,000, compared to a loss of HKD 1,123,500,000 in the same period last year[14]. - The company's revenue was HKD 147,109,000, a decrease of 4.4% compared to HKD 153,351,000 for the same period in 2022[30]. - The profit attributable to equity shareholders for the same period was HKD 12,931,000, down from HKD 15,111,000 in 2022, representing a decline of 14.5%[41]. - The company reported a basic and diluted earnings per share of HKD 1.27, compared to HKD 3.12 in the previous year[30]. - The company reported other income of HKD 10,515,000 for the six months ended September 30, 2023, compared to HKD 3,018,000 in the same period of 2022, representing an increase of 248%[72]. Equity and Assets - As of September 30, 2023, the total equity of the group was HKD 7,994,200,000, up from HKD 7,619,900,000 as of March 31, 2023[15]. - The total assets less current liabilities amounted to HKD 8,312,940,000, an increase from HKD 7,934,538,000 in the previous year[45]. - Non-current assets, including investment properties, totaled HKD 7,790,400,000, compared to HKD 7,408,000,000 in the previous year[45]. - The total equity attributable to shareholders increased to HKD 7,994,234,000 from HKD 7,619,946,000 in the previous year[45]. Dividends - The company declared an interim dividend of HKD 0.23 per share for the fiscal year, compared to HKD 0.21 per share for the previous year[8]. - The company declared an interim dividend of HKD 0.16 per share, an increase from HKD 0.11 per share in 2022, totaling HKD 57,600,000 compared to HKD 39,600,000 in the previous year[42]. - The company declared an interim dividend of HKD 0.16 per share, an increase from HKD 0.11 per share in 2022, to be paid on January 5, 2024[80]. Accounts Receivable - The total accounts receivable, net of credit loss allowances, was HKD 120,989,000 as of September 30, 2023, down from HKD 135,769,000 as of March 31, 2023[10]. - The company reported a decrease in overdue accounts receivable, with total overdue amounts at HKD 24,223,000 as of September 30, 2023, down from HKD 26,819,000[10]. - The company’s accounts receivable related to lease incentives amounted to HKD 95,954,000 as of September 30, 2023, down from HKD 107,096,000 as of March 31, 2023[78]. Rental Income and Operations - The company anticipates that rental income from the international plaza and overall operational performance will remain stable in the second half of the year despite challenges in the Hong Kong retail market[18]. - Rental income from the International Plaza reached approximately HKD 145,900,000, a decrease of about 4.1% compared to the same period last year, with an occupancy rate of 80.0% as of September 30, 2023, up from 77.3% a year earlier[59]. Financing and Costs - The company's financing costs for the period were reported at HKD 5,363,000, compared to HKD 1,787,000 in the previous year[40]. - The company has drawn down bank loans totaling HKD 200,000,000 as of September 30, 2023, with a capital debt ratio of 2.5%[60]. - The company entered into a financing agreement on October 7, 2013, including a three-year term loan of HKD 200,000,000 and a revolving loan of HKD 100,000,000[60]. Governance and Compliance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange regulations during the reporting period[20]. - The company has not disclosed any significant changes in information that would require additional disclosure beyond what is stated in the annual report[17]. - The company has not established an internal audit function, confirming that sufficient risk management and internal control systems are in place[63]. - The company conducted biannual risk assessments to enhance its risk management and internal control systems[64]. - The company has established a monitoring environment covering the entire group, including implementing reporting policies and defining employee roles and responsibilities[64]. Other Information - The company did not repurchase, sell, or redeem any of its listed securities during the six months ended September 30, 2023[19]. - The company has not adopted any new accounting standards or interpretations that have not yet come into effect during the current accounting period[49]. - The company’s financial report is prepared in accordance with the Hong Kong Financial Reporting Standards[47]. - The company’s financial results may differ from estimates due to management's judgments and assumptions regarding the application of policies[47]. - The company is committed to maintaining appropriate insurance arrangements for potential legal actions faced by directors[62]. - The company reported a net loss from the disposal of fixed assets of HKD 1,000[72]. - The company’s management fees from the holding company remained stable at HKD 600,000 for both periods[72]. - The company’s depreciation expense for the period was HKD 2,121,000[73].
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