Financial Performance - For the six months ended June 30, 2021, the company reported a revenue of HKD 1,167 million, a decrease of 62.2% compared to HKD 3,088 million in the same period of 2020[2] - The gross profit for the same period was HKD 872 million, down 54.4% from HKD 1,910 million year-on-year[2] - The operating loss for the first half of 2021 was HKD 35,025 million, an improvement from a loss of HKD 63,219 million in the previous year[2] - The total comprehensive loss for the period was HKD 35,918 million, compared to HKD 63,512 million in the same period of 2020, indicating a reduction of 43.5%[3] - The basic and diluted loss per share for the first half of 2021 was HKD (1.42), an improvement from HKD (2.36) in the same period of 2020[2] - The company recorded a pre-tax loss of HKD (35,996) thousand for the first half of 2021, an improvement from a loss of HKD (63,362) thousand in the same period of 2020[14] - The loss for the period was HKD 35,997,000, a 43% reduction from HKD 63,328,000 in the previous year, primarily due to a significant decrease in losses from financial assets measured at fair value[66] - The loss attributable to owners of the company was HKD 35,987,000, down 43% from HKD 63,319,000 in the same period last year[66] Assets and Liabilities - The company's total assets as of June 30, 2021, were HKD 5,269,543 million, slightly down from HKD 5,343,571 million at the end of 2020[4] - The company's total liabilities increased to HKD 2,085,185 million from HKD 1,908,300 million, reflecting a rise of 9.3%[6] - The company's equity attributable to owners decreased to HKD 3,185,011 million from HKD 3,435,914 million, a decline of 7.3%[6] - The group reported a total liability of HKD 4,373,517 as of June 30, 2021, compared to HKD 4,118,890 as of December 31, 2020, indicating an increase of 6.19%[17] - The carrying amount of properties inventory pledged as collateral for bank credit facilities was approximately HKD 1,960,895,000 as of June 30, 2021, compared to HKD 1,879,503,000 at the end of 2020[36] - The group has pledged assets valued at approximately HKD 1,960,895,000 as collateral for bank credit facilities as of June 30, 2021, up from HKD 1,879,503,000 at the end of 2020[50] Cash Flow and Financing Activities - The net cash used in operating activities for the six months ended June 30, 2021, was HKD (110,692) thousand, compared to HKD (46,593) thousand for the same period in 2020, indicating a significant increase in cash outflow[8] - The net cash used in investing activities was HKD (114,588) thousand for the first half of 2021, a stark contrast to the net cash generated of HKD 20,505 thousand in the same period of 2020[8] - The net cash used in financing activities amounted to HKD (72,679) thousand, compared to HKD (56,776) thousand in the previous year, reflecting increased financing costs[8] - Financing costs for the six months ended June 30, 2021, totaled HKD 27,604, a decrease of 12.03% from HKD 31,450 in the previous year[23] - The group’s total borrowings increased to HKD 1,470,454,000 as of June 30, 2021, compared to HKD 1,299,565,000 at the end of 2020[80] Revenue by Segment - The restaurant operations reported revenue of HKD 1,132 thousand for the six months ended June 30, 2021, compared to HKD 721 thousand in the same period of 2020, showing a growth of approximately 57%[14] - The film-related business generated revenue of HKD 35 thousand, a significant decrease from HKD 2,367 thousand in the prior year, reflecting challenges in the sector[14] - Revenue from the film-related business was HKD 35,000, representing 3% of total revenue, while 97% came from restaurant operations, amounting to HKD 1,132,000[68] Investment and Capital Expenditure - The group purchased properties, machinery, and equipment at a cost of HKD 619,000 during the six months ended June 30, 2021, compared to HKD 24,000 in the same period of 2020, reflecting a significant increase in capital expenditure[31] - The investment properties acquired during the period were settled for a cash consideration of HKD 160,365,000, with HKD 33,430,000 paid in the previous fiscal year[31] - The group plans to launch the "Daphne House" project in the fourth quarter of 2021, despite short-term uncertainties, with confidence in the recovery of the property market[92] Shareholder Information - The company repurchased and canceled 144,760,000 shares at a total cost of HKD 214,150,000 during the six months ended June 30, 2021[45] - The company’s issued and paid-up capital decreased to 2,485,851,000 shares as of June 30, 2021, from 2,630,611,000 shares at the end of 2020[44] - The group did not declare or pay any interim dividends for the six months ended June 30, 2021, consistent with the previous year[30] Operational Challenges and Future Outlook - The group faced delays in obtaining necessary approvals for property development in Macau, leading to potential land recovery by the government, which may impact future development plans[37] - The group anticipates continued economic recovery in Hong Kong and Macau, driven by vaccination efforts and the development of the Guangdong-Hong Kong-Macao Greater Bay Area[92] - The group aims to enhance profitability and capture suitable business opportunities for steady growth in the future[93]
中国星集团(00326) - 2021 - 中期财报