香港小轮(集团)(00050) - 2019 - 中期财报

Financial Performance - The group's unaudited consolidated net profit for the six months ended June 30, 2019, was HKD 86 million, a decrease of 68% compared to HKD 273 million in the same period last year[7]. - Earnings per share were HKD 0.24, down from HKD 0.77 in the previous year[7]. - Total revenue for the six months was HKD 170 million, representing an 82% decrease year-on-year[18]. - Total revenue for the six months ended June 30, 2019, was HKD 170,481,000, a decrease of 81.5% compared to HKD 924,615,000 in 2018[64]. - Operating profit for the same period was HKD 98,225,000, down 69.3% from HKD 319,792,000 in 2018[64]. - Profit attributable to equity shareholders was HKD 86,485,000, a decline of 68.3% from HKD 272,898,000 in the previous year[68]. - Total comprehensive income attributable to equity shareholders was HKD 89,887,000, down from HKD 249,032,000 in the previous year[68]. - Other income for the period was HKD 26,313,000, slightly up from HKD 25,942,000 in 2018[64]. - Total comprehensive income for the six months ended June 30, 2019, was HKD 89,887,000, compared to HKD 249,032,000 for the same period in 2018, reflecting a decrease of 64.1%[81]. Revenue Sources - Gross rental income from commercial properties was approximately HKD 52 million during the reporting period[9]. - The group anticipates that the main source of profit in the second half of the year will continue to come from commercial rental income[15]. - Revenue from property development was HKD 20,100,000, significantly lower than HKD 770,350,000 in the previous year[118]. - The ferry and related business generated revenue of HKD 83,374,000, down from HKD 87,571,000 year-on-year[118]. - The expected total revenue from contracts in the shipyard business is HKD 9,137,000, anticipated to be recognized within the next twelve months[123]. Assets and Liabilities - The group’s equity as of June 30, 2019, was HKD 61.2 billion, a slight decrease of 0.2% from December 31, 2018[19]. - Non-current assets, including investment properties, totaled HKD 3,913,197,000 as of June 30, 2019, compared to HKD 3,956,291,000 at the end of 2018[71]. - Current assets amounted to HKD 2,448,075,000, an increase from HKD 2,418,153,000 in 2018[71]. - Current liabilities decreased to HKD 173,365,000 from HKD 180,363,000 in the previous year[74]. - The group’s non-current liabilities related to the joint venture were HKD 2,885,132,000, resulting in a net liability of HKD 14,769,000[45]. - The lease liabilities as of June 30, 2019, amounted to HKD 1,817,000, compared to HKD 1,130,000 on January 1, 2019[109]. Shareholding Structure - As of June 30, 2019, Dr. Li Ka-shing holds a total of 119,816,310 shares, representing approximately 33.63% of the total issued shares of the company[57]. - Mr. Li Ning holds 119,017,090 shares, which accounts for approximately 33.41% of the total issued shares[57]. - The company has a significant shareholder, Henderson Land Development Company Limited, which also holds 119,017,090 shares, representing 33.41%[57]. - The total number of shares held by Wiselin Investment Limited is 48,817,090, which constitutes approximately 13.70% of the total issued shares[57]. - The total issued shares of the company are approximately 356,000,000, based on the calculations from the reported shareholdings[57]. Corporate Governance - The group confirmed compliance with the standards set out in the Listing Rules regarding securities transactions by directors during the six-month period ending June 30, 2019[30]. - The audit committee reviewed the interim financial report for the six months ending June 30, 2019, which was unaudited but reviewed by KPMG without any modifications[33]. - The group maintained a high level of corporate governance and adhered to the Corporate Governance Code as of June 30, 2019[29]. - The company has complied with the relevant provisions of the Listing Rules regarding connected transactions as defined in Chapter 14A[193]. Financial Reporting Standards - The company adopted the revised Hong Kong Financial Reporting Standard 16 on January 1, 2019, which affected the comparability of financial data[64]. - The transition to HKFRS 16 did not have a significant impact on the consolidated financial statements, as the company previously applied HKAS 40 for investment properties[97]. - The company will present right-of-use assets that do not meet the definition of investment properties as "Other properties, plant and equipment" in the financial position statement[103]. - The company adopted Hong Kong Financial Reporting Standard 16 (HKFRS 16) on January 1, 2019, which requires lessees to recognize right-of-use assets and lease liabilities for all leases, except for short-term leases and low-value asset leases[90]. Cash Flow and Dividends - The net cash generated from operating activities for the six months ended June 30, 2019, was HKD 61,804,000, a decrease of 81.8% compared to HKD 340,639,000 in the same period of 2018[81]. - The net cash generated from investing activities was HKD 128,646,000, compared to a net cash outflow of HKD 930,090,000 in the previous year, indicating a significant improvement[81]. - The company declared dividends amounting to HKD 99,757,000 for the past financial year, consistent with the previous year's dividend[81]. - The company declared an interim dividend of HKD 0.10 per share, consistent with the previous year[134]. Development Projects - The group successfully secured a contract for a redevelopment project in Sham Shui Po for HKD 1.029 billion, with a total floor area of approximately 144,345 square feet[9]. - The joint venture project in Tuen Mun is progressing well and is expected to be completed in 2022, providing approximately 1,636 residential units[12]. - The group entered a development agreement with Henderson Land Development Company Limited for the sale of 50% of the residential portion of the "Harbour View" property for HKD 1,500,000,000[164].