Financial Performance - Revenue for the six months ended June 30, 2023, was HK$418,094,000, a decrease of 39.4% compared to HK$691,554,000 in the same period of 2022 [23]. - Loss before tax for the period was HK$317,513,000, compared to a loss of HK$82,265,000 in the prior year, representing a significant increase in losses [23]. - Loss attributable to owners of the parent for the period was HK$338,939,000, up from HK$105,358,000 in the previous year, indicating a 221.5% increase in losses [23]. - Basic and diluted loss per share attributable to owners of the parent was HK8.02 cents, compared to HK2.49 cents in the same period last year [23]. - Total comprehensive loss for the period attributable to owners of the parent was HK$629,363,000, compared to HK$739,404,000 in the same period last year, showing a decrease of 14.9% [25]. - The company reported a loss for the period of HK$338,939,000, contributing to a total comprehensive loss of HK$629,363,000 for the period [33]. - The accumulated losses increased to HK$8,872,430,000 as of June 30, 2023, compared to HK$8,228,341,000 at the beginning of the year [33]. - The total tax charge for the period was HK$21,426,000, a slight decrease from HK$23,093,000 in the previous year [99]. Cash and Liquidity - The Group's cash incident is under investigation, with restricted cash of KRW 10,150,000,000 (approximately HK$ 60,325,000) and additional cash of KRW 3,250,000,000 (approximately HK$ 19,316,000) seized by the Jeju Police, totaling KRW 13,400,000,000 (approximately HK$ 79,641,000) [18]. - Cash and cash equivalents at the end of the period were HK$ 313,885,000, down from HK$ 513,984,000 at the end of June 2022, reflecting a net decrease of HK$ 180,178,000 [39]. - The company reported a net cash flow decrease of HK$ 180,178,000 in cash and cash equivalents, reflecting operational challenges [39]. - The Group's cash and bank balances as of June 30, 2023, were approximately HK$313,885,000, down from approximately HK$503,421,000 as of December 31, 2022 [195]. - The current ratio decreased to 2.7 as of June 30, 2023, compared to 3.69 as of December 31, 2022, primarily due to a decrease in cash and cash equivalents [194]. Assets and Liabilities - Total non-current assets decreased to HK$8,295,228,000 as of June 30, 2023, from HK$8,739,920,000 at the end of 2022, reflecting a decline of 5.1% [30]. - Current assets decreased to HK$1,108,671,000 as of June 30, 2023, down from HK$1,316,102,000 at the end of 2022, a reduction of 15.8% [30]. - Net current assets were HK$697,417,000, down from HK$959,703,000 at the end of 2022, indicating a decrease of 27.3% [30]. - Non-current liabilities decreased to HK$1,504,625,000 as of June 30, 2023, from HK$1,582,240,000 at the end of 2022, a decline of 4.9% [30]. - The Group's total liabilities were approximately HK$1,915,879,000 as of June 30, 2023, a slight decrease from approximately HK$1,938,639,000 as of December 31, 2022 [196]. - The gearing ratio increased to 20.4% as of June 30, 2023, compared to 19.3% as of December 31, 2022 [196]. Operational Insights - The management discussion and analysis section provides insights into the Group's performance and future outlook [8]. - The Group continues to monitor the situation closely, with updates provided as investigations progress [18]. - The financial results reflect the Group's ongoing commitment to maintaining robust financial practices amid challenges [8]. - The decline in revenue was attributed to intense competition, a decrease in residential property sales, increased operating expenses due to inflation, and the absence of a prior period reversal of impairment [158]. - The Group is engaged in the development and operation of integrated leisure and entertainment resorts, gaming, and property development, indicating a diversified business model [42]. Segment Performance - For the six months ended June 30, 2023, total segment revenue was HK$418,094,000, a decrease of 39.5% compared to HK$691,554,000 for the same period in 2022 [78][84]. - The Integrated Resort Development segment generated revenue of HK$347,838,000, while the Gaming Business and Property Development segments contributed HK$23,804,000 and HK$46,452,000, respectively [78]. - The Property Development segment reported a profit of HK$16,153,000, contrasting with losses in the other segments, which indicates potential growth in this area [78]. - Non-gaming revenue for the Period was approximately HK$394,290,000, down from approximately HK$658,918,000 in 2022, while gaming revenue decreased to approximately HK$23,804,000 from approximately HK$32,636,000 [157]. Future Outlook - The Group plans to reformulate its marketing strategy to seize opportunities from the rebound of tourism following the easing of travel restrictions in early 2023 [187]. - Rising interest rates and inflation are expected to challenge the Group's operations, leading to cautious capital commitments and prudent future development plans [189]. - The Group is exploring further residential development in Jeju Shinhwa World to better utilize land and broaden income streams [190]. - The Group will continue to evaluate its funding needs and explore fundraising opportunities as they arise [190].
神话世界(00582) - 2023 - 中期财报