载通(00062) - 2020 - 中期财报

Financial Performance - The company reported a loss attributable to shareholders of HKD 51.8 million for the six months ended June 30, 2020, compared to a profit of HKD 302 million for the same period in 2019, representing a negative variance of HKD 353.8 million[8]. - The earnings per share for the first half of 2020 was HKD 0.12, down from HKD 0.69 in the same period of 2019, reflecting a decline of HKD 0.81 per share[8]. - Revenue for the six months ended June 30, 2020, was HKD 3,073.3 million, a decrease of 24.5% compared to HKD 4,073.5 million for the same period in 2019[47]. - The total comprehensive income for the period was a loss of HKD 51.8 million, compared to a total comprehensive income of HKD 303.3 million for the same period in 2019[53]. - The company reported a net loss attributable to equity holders of HKD 51.8 million for the period, compared to a profit of HKD 302.0 million in the prior year[71]. - The company reported a pre-tax loss of HKD 106.1 million, compared to a tax expense of HKD 52.3 million in the same period last year[68]. Revenue and Operating Costs - The fare revenue for Kowloon Bus in the first half of 2020 was HKD 2.627 billion, a decrease of HKD 826.6 million or 23.9% from HKD 3.454 billion in the same period of 2019[9]. - The fare revenue for Long Win Bus decreased by HKD 129.3 million or 40.7% to HKD 188.3 million in the first half of 2020, down from HKD 317.6 million in 2019[10]. - The total operating costs for Kowloon Bus decreased by HKD 235.3 million or 6.9% to HKD 3.1776 billion in the first half of 2020, down from HKD 3.4129 billion in 2019[9]. - The total operating costs for Long Win Bus decreased by HKD 29 million or 10.6% to HKD 24.54 million in the first half of 2020, compared to HKD 27.44 million in 2019[10]. - Public bus service fare revenue decreased to HKD 2,815.4 million, down 25.4% from HKD 3,771.6 million in the prior year[64]. Impact of COVID-19 - The group reported a significant decline in overall passenger volume due to the COVID-19 pandemic, impacting bus operations and revenue[27]. - The group anticipates disappointing financial performance and issued a profit warning in May 2020 due to ongoing challenges in the operating environment[27]. - The COVID-19 pandemic negatively impacted the group's operations and passenger volumes, prompting the implementation of various measures to mitigate its effects[98]. - The Hong Kong government introduced financial support measures for the passenger transport industry to alleviate some financial burdens on the group[98]. Employee and Operational Measures - The total employee compensation for the first half of 2020 was HKD 20.167 billion, slightly down from HKD 20.786 billion in the same period of 2019[26]. - The group has implemented measures to maintain operational sustainability, including a salary freeze for all employees and applying for government subsidies under the "Employment Support Scheme" due to a significant drop in passenger demand[28]. - The group has not laid off employees or reduced salaries since the outbreak of the pandemic, ensuring job stability for all staff[28]. - The group expresses gratitude to employees for their contributions during difficult times and is committed to enhancing employee welfare and communication[30]. Financial Position and Liquidity - As of June 30, 2020, the group's net borrowings amounted to HKD 1.3725 billion, an increase from HKD 1.2507 billion at the end of 2019[19]. - The group's capital expenditure for the first half of 2020 was HKD 651.8 million, compared to HKD 514.9 million in the same period of 2019, primarily for the Kwun Tong site development and new bus purchases[17]. - The group closely monitors its liquidity and financial resources to ensure sufficient cash flow for operations, loan repayments, capital expenditures, and future business expansion[18]. - As of June 30, 2020, the group's cash and bank deposits amounted to HKD 19.524 billion, an increase from HKD 14.559 billion as of December 31, 2019[22]. - The total undrawn bank credit was HKD 16.650 billion as of June 30, 2020, down from HKD 22.800 billion as of December 31, 2019[22]. Investments and Assets - The carrying value of the Kwun Tong site was HKD 2.7267 billion as of June 30, 2020, up from HKD 2.5316 billion at the end of 2019[14]. - The carrying value of the commercial building in Lai Chi Kok was HKD 28.4 million as of June 30, 2020, compared to HKD 29.4 million at the end of 2019[13]. - The carrying value of the factory property in Tuen Mun remained unchanged at HKD 1.9 million as of June 30, 2020[13]. - The company’s total assets as of June 30, 2020, were HKD 14,997.2 million, a slight decrease from HKD 15,155.5 million as of December 31, 2019[51]. - The company’s total equity as of June 30, 2020, was HKD 10,792.2 million, down from HKD 10,971.7 million at the end of 2019[51]. Shareholder Information - As of June 30, 2020, the company issued 10,879,685 shares at a price of HKD 15.04 per share as part of a scrip dividend scheme[43]. - The company has not granted any stock options under its stock option plan during the six months ended June 30, 2020[39]. - HSBC Trustee (C.I.) Limited holds 181,296,153 shares, representing 39.6% of the issued share capital[41]. - The company’s major shareholder, Sun Hung Kai Properties Limited, has significant interests in the company, holding over 30% of voting rights[42]. Government Support and Subsidies - The company received government subsidies to alleviate operational pressures due to the COVID-19 pandemic, including wage and fuel subsidies[65]. - The group anticipates that government subsidies for the second half of 2020 will exceed those received in the first half, although financial performance remains dependent on the pandemic's progression[30].