港通控股(00032) - 2021 - 中期财报

Financial Performance - Total revenue for the six months ended June 30, 2021, was HKD 339.829 million, a decrease of 9.3% from HKD 374.740 million in the same period of 2020[9]. - Operating profit for the period was HKD 265.753 million, significantly up from HKD 259, indicating a strong operational performance[9]. - Net profit attributable to equity shareholders was HKD 446.285 million, an increase of 142.5% compared to HKD 184.347 million in the previous year[9]. - Basic earnings per share rose to HKD 1.20, compared to HKD 0.49 in the same period last year, reflecting improved profitability[9]. - Total comprehensive income for the period was HKD 324,341,000, down from HKD 1,633,256,000 in the previous year, a decline of 80.2%[15]. - The company reported a profit of HKD 446,285,000 for the six months ended June 30, 2021, compared to HKD 540,896,000 for the same period in 2020, indicating a decrease of 17.5%[15]. - The group’s profit attributable to shareholders for the first half of 2021 was HKD 446.3 million, an increase of 142.1% compared to HKD 184.3 million in the same period of 2020[75]. - Earnings per share for the first half of 2021 were HKD 1.20, compared to HKD 0.49 in the same period of 2020[75]. Assets and Liabilities - Non-current assets totaled HKD 6.011 billion as of June 30, 2021, up from HKD 5.528 billion at the end of 2020[12]. - Current assets decreased to HKD 4.284 billion from HKD 4.638 billion at the end of 2020, primarily due to a reduction in cash and bank deposits[12]. - The company’s total liabilities decreased to HKD 740.849 million from HKD 800.260 million at the end of 2020, indicating improved financial stability[12]. - Total assets decreased to HKD 9,553,756,000 as of June 30, 2021, compared to HKD 9,365,501,000 on December 31, 2020, representing an increase of 2%[13]. - Net asset value increased to HKD 9,514,249,000 from HKD 9,298,865,000, reflecting a growth of 2.3%[13]. - The group’s total liabilities as of June 30, 2021, were HKD 595,048,000, compared to HKD 504,063,000 as of December 31, 2020, indicating an increase of 17.9%[56]. Cash Flow - Operating cash flow for the six months ended June 30, 2021, was HKD 111,791,000, an increase of 15.5% from HKD 96,591,000 in the same period of 2020[16]. - Net cash generated from operating activities was HKD 105,017,000, up 70.5% compared to HKD 61,661,000 in the prior year[16]. - Cash and cash equivalents decreased by HKD 258,862,000, compared to an increase of HKD 373,424,000 in the same period of 2020[16]. - Investment activities resulted in a net cash outflow of HKD 220,200,000, compared to a net cash inflow of HKD 446,370,000 in the same period of 2020[16]. Dividends - The company declared dividends totaling HKD 22,361,000 during the fiscal year, compared to HKD 89,445,000 in the previous year, a reduction of 75%[15]. - The company declared an interim dividend of HKD 0.06 per share for both the first and second quarters, totaling HKD 44,722,000 for the six months ended June 30, 2021, consistent with the previous year[57]. - The company approved and distributed a final dividend of HKD 0.24 per share for the last fiscal year, amounting to HKD 89,445,000, unchanged from the previous year[58]. Investments - The group held investments in Evergrande Auto valued at HKD 1,567,970,000 as of June 30, 2021, down from HKD 1,638,501,000 at the end of 2020[40]. - The group’s total financial assets measured at fair value through profit or loss amounted to HKD 2,178,517,000 as of June 30, 2021, compared to HKD 1,754,345,000 as of December 31, 2020[39]. - The fair value of the investment in Evergrande Auto was HKD 1,568.0 million, representing 15.2% of the group's total assets, with a fair value loss of HKD 70.5 million during the period[93]. - The investment portfolio's book value as of June 30, 2021, was HKD 7,150.9 million, up from HKD 5,946.4 million as of December 31, 2020[89]. Operational Highlights - Revenue from driving school courses increased to HKD 243,941,000, up 12.3% from HKD 217,080,000 in the previous year[21]. - The segment profit before tax for the driving school segment rose to HKD 93,191 thousand in the first half of 2021, compared to HKD 68,908 thousand in the same period of 2020, an increase of 35.19%[27]. - The group experienced a 12.4% increase in operating income from its driving school business due to an increase in the number of driving courses offered[80]. - Revenue from tunnel fees for the six months ended June 30, 2021, was HKD 788,086,000, an increase of 8.8% compared to HKD 724,142,000 for the same period in 2020[45]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[9]. - The management expressed optimism about future performance, citing a strong pipeline of new products and strategic initiatives[9]. - Future performance of the investment portfolio will depend on various factors including political, economic, and industry-specific risks[97]. - The group is expected to benefit from a diversified investment portfolio that aims to generate higher long-term returns while mitigating individual investment risks[97]. Corporate Governance - The company has complied with the Corporate Governance Code during the reporting period, with some deviations noted regarding formal appointment letters for directors[114]. - All directors confirmed compliance with the established standards for securities trading during the reporting period[115]. - The mid-term report has been reviewed by the Audit Committee and KPMG, focusing on accounting principles and internal controls[116].