Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 336,741,000, a decrease of 23% compared to HKD 436,181,000 for the same period in 2019[6] - Operating profit increased to HKD 88,989,000, up 100% from HKD 44,355,000 in the previous year[6] - Net profit for the period was HKD 87,351,000, compared to HKD 36,614,000 in the same period last year, representing a 138% increase[6] - Basic and diluted earnings per share were HKD 3.64 cents, up from HKD 1.52 cents in the previous year[8] - Total comprehensive income for the period was HKD 103,151,000, significantly higher than HKD 29,905,000 in the prior year[6] - The company's profit before tax for the six months ended September 30, 2020, was HKD 88,861,000, compared to HKD 44,225,000 for the same period in 2019, representing a 100% increase[16] - The company reported a total comprehensive income of HKD 102,345,000 for the six months ended September 30, 2020, compared to HKD 29,905,000 for the same period in 2019, marking an increase of approximately 242%[21] - The unaudited consolidated profit attributable to the owners of the company increased by 139% to HKD 87,323,000, mainly due to cost-saving measures and foreign exchange gains[67] Assets and Liabilities - Non-current assets as of September 30, 2020, amounted to HKD 953,018,000, an increase from HKD 928,587,000 as of March 31, 2020[10] - Current assets totaled HKD 1,071,313,000, compared to HKD 968,510,000 as of March 31, 2020[10] - The company's equity attributable to owners was HKD 1,413,964,000, with reserves of HKD 431,973,000 as of September 30, 2020[12] - The company reported a net cash position of HKD 645,052,000 as of September 30, 2020, compared to HKD 594,108,000 at the end of March 2020[10] - The company's total equity as of September 30, 2020, was HKD 1,851,846,000, compared to HKD 1,807,468,000 in the previous year, representing an increase of about 2.4%[21] - The net current assets as of September 30, 2020, were HKD 952,728,000, an increase from HKD 875,103,000 as of March 31, 2020[68] - The total receivables as of September 30, 2020, amounted to HKD 64,386,000, a decrease from HKD 73,932,000 as of March 31, 2020[56] - The total payables as of September 30, 2020, were HKD 10,673,000, down from HKD 15,974,000 as of March 31, 2020[57] Cash Flow - Operating cash flow for the period was HKD 44,830,000, a significant decrease from HKD 167,206,000 in the previous year, reflecting a decline of approximately 73%[16] - The net cash increase for the period was HKD 47,125,000, down from HKD 117,991,000 in the same period last year, indicating a decrease of about 60%[17] - The company’s interest income from bank deposits and short-term deposits was HKD (3,641,000), a slight improvement from HKD (4,333,000) in the previous year, showing a reduction in losses[16] Revenue Breakdown - Publishing and advertising revenue was HKD 259,474,000, down from HKD 356,200,000, representing a decline of 27.2%[33] - Internet subscription and advertising revenue remained stable at HKD 58,334,000, slightly up from HKD 58,101,000[33] - Restaurant operations revenue was HKD 3,235,000, a decrease from HKD 3,541,000[33] - Revenue from external customers in Hong Kong is HKD 331,961,000, down 22.1% from HKD 426,191,000 in 2019[39] - The advertising and circulation revenue of the "Oriental Daily" was HKD 259,474,000, a decrease of 27% compared to the same period last year[77] - Digital media advertising revenue remained stable at HKD 58,316,000, comparable to the previous year[77] Government Support - Government subsidies received included HKD 30,688,000 from the Hong Kong government's Employment Support Scheme and HKD 1,025,000 from the Australian Taxation Office's JobKeeper program[34] - The company received government subsidies totaling HKD 31,713,000 from both the Hong Kong and Australian governments[77] Foreign Exchange Impact - The company experienced a foreign exchange gain of HKD 15,800,000 during the period, compared to a loss of HKD 6,709,000 in the previous year[6] - The company recorded a foreign exchange gain of HKD 28,262,000 due to the appreciation of the Australian dollar[77] - The foreign exchange gain from properties located in Australia is HKD 43,566,000, compared to a loss of HKD 46,293,000 as of March 31, 2020[51] - The company experienced a foreign exchange loss of HKD 28,262,000 during the period, compared to a gain of HKD 11,276,000 in the previous year, indicating a significant negative shift[16] Operational Insights - The company is focusing on technology development, including a mobile application that supports advanced streaming video technology[74] - The company plans to enhance social marketing, programmatic marketing, and short video marketing strategies to boost advertising revenue as the consumer market recovers[80] - The board anticipates a downward trend in the Hong Kong property market but believes that investment properties will still generate rental income[80] - The company employed 1,189 staff as of September 30, 2020, a slight decrease from 1,197 staff on March 31, 2020[82] Shareholder Information - As of September 30, 2020, the total issued shares of the company were 2,397,917,898 shares[100] - Mr. Ma Chengfa holds 1,552,651,284 shares, representing 64.75% of the company's equity[92] - Mr. Ma Chengfa also has interests in Perfect Deal Trading Limited, which holds 149,870,000 shares, equating to 6.25% of the company's equity[91] - Mr. Ma Chengcai holds 95,916,000 shares, which is 4.00% of the company's equity[92] - Conyers Trustee Services (BVI) Limited, as trustee, holds 1,552,651,284 shares, representing 64.75% of the company's equity[96] - Ocean Greatness Limited and Marsun Holdings Limited each hold 1,552,651,284 shares, also representing 64.75% of the company's equity[96] - Magicway Investment Limited holds 1,222,941,284 shares, which is 51.00% of the company's equity[96] - Ever Holdings Limited holds 329,710,000 shares, representing 13.75% of the company's equity[96] - The total equity interests of Mr. Ma Chengfa and his spouse, Ms. Hong Meifang, amount to 1,702,521,284 shares, or 71.00% of the company's equity[96] - The ownership percentages are calculated based on the total issued shares as of September 30, 2020[100]
东方企控集团(00018) - 2021 - 中期财报