Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 236,976,000, a decrease of 5.2% compared to HKD 250,778,000 in the same period last year[4] - Customer contract revenue increased to HKD 38,238,000, up 29.2% from HKD 29,608,000 year-on-year[4] - Profit before tax for the period was HKD 165,780,000, representing a 40% increase from HKD 118,347,000 in the previous year[4] - Net profit for the period was HKD 128,782,000, compared to HKD 98,127,000 in the same period last year, reflecting a growth of 31.2%[4] - Total comprehensive income for the period was HKD 382,362,000, significantly higher than HKD 142,304,000 in the previous year, marking a 168.5% increase[6] - Basic earnings per share increased to HKD 1.07, up from HKD 0.81 in the same period last year, representing a growth of 32.1%[8] - For the six months ended September 30, 2021, the profit attributable to equity holders was HKD 103,090,000, compared to HKD 78,744,000 for the same period in 2020, representing a year-over-year increase of approximately 31.0%[53] - Basic earnings per share for the six months ended September 30, 2021, was HKD 1.07, up from HKD 0.81 in the same period of 2020, reflecting a growth of approximately 32.1%[61] Assets and Liabilities - The company reported a total asset value of HKD 7,090,525,000 as of September 30, 2021, compared to HKD 6,724,321,000 at the end of the previous reporting period[12] - Non-current assets, including investment properties, increased to HKD 1,298,540,000 from HKD 851,849,000, indicating a growth of 52.5%[10] - The company’s assets in Hong Kong increased to HKD 1,626,635,000 as of September 30, 2021, up from HKD 1,291,597,000 as of March 31, 2021, representing a growth of 25.9%[41] - The company reported unallocated liabilities of HKD 272,136,000 as of September 30, 2021, compared to HKD 178,209,000 as of March 31, 2021, showing an increase of 52.7%[37] - The company’s non-current assets in Hong Kong rose to HKD 1,626,635,000 as of September 30, 2021, compared to HKD 1,291,597,000 as of March 31, 2021, marking an increase of 25.9%[41] Cash Flow - The company’s cash and cash equivalents totaled HKD 1,485,539,000, compared to HKD 658,914,000 in the previous reporting period, showing a significant increase[10] - The company reported a net cash increase of HKD 826,837 thousand for the six months ended September 30, 2021, compared to a decrease of HKD 425,745 thousand in the same period of 2020[24] - Operating cash flow generated was HKD 889,108 thousand, a significant improvement from a negative cash flow of HKD 237,182 thousand in the previous year[24] - The total cash and cash equivalents at the end of the period amounted to HKD 1,485,539 thousand, up from HKD 479,450 thousand at the end of the previous year[24] Dividends - The company declared dividends amounting to HKD 96,628,000, compared to HKD 86,965,000 in the previous year, reflecting an increase of 11.5%[8] - The company declared an interim dividend of HKD 0.5 per share, maintaining the same level as the previous year, with total dividends paid amounting to HKD 48,314,000 for the six months ended September 30, 2021[46] - The proposed interim dividend of HKD 0.5 per share for the six months ended September 30, 2021, reflects the company's commitment to returning value to shareholders[6] Risk Management - The company maintains a rigorous risk management policy, particularly regarding capital risk management to optimize debt and equity balance for maximum shareholder returns[87] - The company faces cash flow interest rate risk due to accounts receivable, loans, and bank borrowings, but currently has no interest rate hedging policy in place[88] - The company monitors credit risk by setting limits on the risk amounts for borrowers and regularly reviews these limits[92] - The company has limited currency risk as most transactions are conducted in HKD, with only a minor exposure to GBP from an investment property in the UK[90] - The company has implemented measures to manage liquidity risk associated with timing differences in settlements with clearing houses and clients[94] Business Operations - The company’s main business includes investment holding, lending, property development, and financial services, including securities trading and brokerage services[26] - The company aims to enhance its investment strategies and expand its market presence through various financial services[26] - The company continues to adopt a prudent approach in managing credit risk and focuses on debt recovery during the period[107] - The company will maintain a balance between revenue and risk while implementing credit control measures in its margin financing business[111] Corporate Governance - The company has adhered to the corporate governance code as per the listing rules, with some deviations noted regarding the appointment of non-executive directors and the roles of the chairman and CEO[148] - The audit committee reviewed the unaudited condensed consolidated interim financial statements for the six months ending September 30, 2021[149] - All directors confirmed compliance with the standards set out in the Securities Trading Code during the review period[151] - The company is led by experienced executives, including the chairman and CEO, who believe that the current structure benefits overall operations[148] - The company has maintained a balanced power structure within the board, ensuring regular meetings to discuss operational matters[148] - The company has not specified a term for the appointment of non-executive directors, which deviates from the corporate governance code[148] - The chairman and CEO roles are held by the same individual, which is not in compliance with the corporate governance code[148] - The company has confirmed that all directors have adhered to the required standards of conduct during the review period[151] - The audit committee's review included the accounting principles and practices adopted by the group[149]
结好控股(00064) - 2022 - 中期财报