Financial Performance - For the six months ended June 30, 2024, the company reported a revenue of HKD 144,185,000, representing a 1% increase from HKD 142,565,000 in the same period of 2023[2] - The loss attributable to equity holders was HKD 43,740,000, a significant decline of 135% compared to a profit of HKD 125,809,000 in the prior year[3] - The company recorded a net loss of HKD 142,700,000 from changes in the fair value of investment properties, compared to a gain of HKD 28,700,000 in the previous year, marking a 597% change[3] - Basic loss per share was HKD (1.29), down from a profit of HKD 3.70 per share in the same period last year, reflecting a 135% decrease[3] - Excluding the impact of fair value changes in investment properties, the adjusted earnings per share was HKD 2.91, up 2% from HKD 2.86 in the previous year[3] - Total comprehensive income for the period attributable to equity holders was a loss of HKD 202,047,000, compared to a gain of HKD 165,780,000 in the prior year[4] - The total comprehensive expenses for the period amounted to HKD 202,000,000, compared to total comprehensive income of HKD 165,800,000 in the previous year[3] - The company's operating loss attributable to shareholders for the six months ended June 30, 2024, was HKD (43,740,000), compared to a profit of HKD 125,809,000 in 2023, indicating a significant decline[22] Assets and Liabilities - Total assets decreased to HKD 5,071,609,000 from HKD 5,301,435,000 as of December 31, 2023[5] - Total equity attributable to equity holders decreased to HKD 4,964,442,000 from HKD 5,210,647,000[5] - Total assets as of June 30, 2024, were HKD 5,071,609,000, with real estate assets accounting for HKD 2,294,883,000 and financial investments at HKD 2,690,435,000[14] - The total liabilities for the group as of June 30, 2024, were HKD 107,167,000, with total liabilities for the real estate segment at HKD 51,786,000 and financial investments at HKD 22,763,000[14] - The company’s liabilities totaled HKD 90,788,000 as of June 30, 2024, with segment liabilities of HKD 57,396,000[15] - The group's net current assets amounted to HKD 539,700,000 as of June 30, 2024, compared to HKD 483,500,000 as of December 31, 2023[35] Revenue Sources - Rental income from investment properties amounted to HKD 31,265,000 for the six months ended June 30, 2024, compared to HKD 29,300,000 in 2023, reflecting an increase of 6.71%[11] - The financial investment segment generated revenue of HKD 107,068,000, up from HKD 108,287,000 in the previous year, indicating a slight decrease of 1.12%[12] - The net gain from financial assets measured at fair value through profit or loss was HKD 22,653,000, compared to HKD 20,503,000 in 2023, marking an increase of 10.50%[11] - The financial income from bank interest for the six months ended June 30, 2024, was HKD 1,856,000, up from HKD 338,000 in 2023, showing an increase of 449.41%[18] Accounting and Compliance - The group has adopted new accounting standards effective January 1, 2024, but does not expect any significant impact on its financial performance[9] - The group has initiated an assessment of new accounting standards and amendments, with no major impact anticipated on its operations and financial condition[9] - The group confirmed that there were no significant changes to accounting policies that would materially affect its financial results[8] - The audit committee reviewed the group's accounting principles and practices, including the unaudited interim financial statements for the six months ending June 30, 2024[39] - The unaudited interim financial statements were reviewed by the external auditor according to the Hong Kong Institute of Certified Public Accountants' standards[39] Investments and Market Position - The investment portfolio, including cash, increased by approximately 6% as of June 30, 2024, with total assets amounting to HKD 419,800,000, representing 8.3% of the group's total assets[32] - The group recorded a net realized and unrealized gain of HKD 22,700,000 (approximately USD 2,900,000) and investment income of HKD 2,700,000 (approximately USD 300,000)[32] - The group holds 190,585,095 shares in Shanghai Commercial & Savings Bank, representing about 3.9% of its issued share capital, valued at HKD 2,075,600,000, which constitutes approximately 41% of the group's total assets[34] - Shanghai Commercial & Savings Bank reported a net profit attributable to its owners of TWD 5,802,900,000 for the six months ended June 30, 2024, compared to TWD 9,769,800,000 for the same period in 2023[35] - The group has reduced its investment in emerging market equities while increasing its holdings in investment-grade U.S. bonds[32] - The investment portfolio has risen by 8% year-to-date as of August 15, 2024, with a total value of approximately USD 57,800,000 or HKD 450,800,000[33] Operational Aspects - The company is actively providing flexible leasing terms and competitive rental prices to retain existing tenants and attract new ones in a challenging real estate market[29] - The rental rate for the company's 290,000 square feet of commercial space in Hong Kong is currently 83.7%[29] - The group employed 13 employees as of June 30, 2024, consistent with the previous year[36] - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[28]
NANYANG HOLD(00212) - 2024 - 中期业绩