美丽华酒店(00071) - 2021 - 中期财报

Financial Performance - The group's revenue for the six months ended June 30, 2021, was HKD 584 million, a decrease of 23.7% compared to HKD 765 million in 2020[8] - Shareholders' profit attributable to the company was HKD 158 million, a slight increase of 0.6% from HKD 157 million in 2020[8] - The basic earnings per share decreased by 15.7% to HKD 0.28, down from HKD 0.33 in 2020[8] - The group’s total revenue for the six months ended June 30, 2021, was HKD 583.7 million, down from HKD 765.3 million in the same period last year[24] - The group reported a profit attributable to shareholders of HKD 160.8 million, slightly up from HKD 160.5 million in the previous year[24] - Basic and diluted earnings per share were HKD 0.23 for the period[24] - Total comprehensive income for the period was HKD 178,354,000, up from HKD 152,594,000 in 2020, representing an increase of 16.9%[26] - The net profit for the six months ended June 30, 2021, was HKD 157,727,000, compared to HKD 145,182,000 for the same period in 2020, representing an increase of approximately 8.5%[33] - The company reported a net profit before tax of HKD 208,678,000, compared to HKD 206,352,000 in the previous year, indicating a slight increase of 1%[44] - Total comprehensive income for the period was HKD 245,356,000, reflecting the overall financial performance[44] Business Segments - The hotel and serviced apartment business revenue increased by 17% to HKD 119.9 million, while the average occupancy rate for quarantine hotels exceeded 60%[16] - Rental business revenue was HKD 403.2 million, with EBITDA of HKD 351 million, representing a slight decline of 3.4% and 4.6% respectively compared to the same period last year[17] - Restaurant business revenue recorded HKD 59.9 million, with an EBITDA loss of HKD 5.5 million, compared to revenue of HKD 67.8 million and an EBITDA loss of HKD 6.3 million in the same period last year[20] - The tourism business generated revenue of HKD 0.7 million, with an EBITDA loss of HKD 7.8 million, down from revenue of HKD 177.4 million and an EBITDA loss of HKD 16.6 million in the previous year[21] Economic Context - The group faced significant challenges due to the ongoing COVID-19 pandemic, with international travel markets remaining stagnant[10] - The local economy showed signs of recovery in April 2021, with a rebound in GDP following a 6.1% decline in 2020[12] - The management remains optimistic about economic recovery, supported by increasing vaccination rates and government initiatives[13] Cost Management - The group continues to control costs strictly and delay non-essential expenditures to mitigate the impact of the pandemic[10] - Total operating costs decreased by HKD 11.6 million, resulting in a 12.2% reduction to HKD 83.5 million compared to HKD 95.1 million last year[22] Cash and Assets - The group maintained a net cash position of HKD 5.3 billion as of June 30, 2021, with no borrowings[23] - The company's total assets less current liabilities amounted to HKD 20,506,720,000 as of June 30, 2021, slightly down from HKD 20,530,506,000 at the end of 2020[29] - Cash and bank balances increased to HKD 5,333,775,000 from HKD 5,050,300,000, indicating a growth of 5.6%[28] - The company's total assets as of June 30, 2021, were HKD 19,983,042,000, compared to HKD 19,850,643,000 at the end of 2020, showing a slight increase of approximately 0.7%[33] Shareholder Information - The company declared an interim dividend of HKD 0.20 per share, payable on October 13, 2021[9] - The company declared an interim dividend of HKD 12,954,000 for the period, compared to HKD 15,088,000 in the previous year, representing a decrease of about 14.1%[33] - The approved interim dividend for the last fiscal year is HKD 0.28 per share, down from HKD 0.34 per share in the same period last year, totaling HKD 193,469,000 compared to HKD 234,926,000 in 2020[57] Investment Properties - The fair value of the group's investment properties decreased by HKD 54 million, with a total book value of HKD 15.2 billion as of June 30, 2021[19] - The fair value of investment properties decreased by HKD 53,982,000 during the period, compared to a decrease of HKD 72,528,000 in the same period last year[62] Employee Information - As of June 30, 2021, the company had a total of 1,171 full-time employees, with approximately 1,147 in Hong Kong and 24 in the People's Republic of China[99] - The company maintains an equal opportunity employer status, emphasizing team spirit and professional conduct among employees[99] - The company has implemented a comprehensive compensation and benefits management system to attract and retain talent[99] Corporate Governance - The company has complied with the Corporate Governance Code as per the Hong Kong Stock Exchange rules for the six months ending June 30, 2021, but does not distinguish between the roles of Chairman and CEO[101] - The Audit Committee reviewed the financial performance for the six months ending June 30, 2021, discussing internal controls, risk management, and financial reporting with external auditors[102] Miscellaneous - The report contains forward-looking statements that are subject to risks and uncertainties, which may cause actual results to differ significantly from those projected[104] - The interim financial report includes the consolidated financial position as of June 30, 2021, and the consolidated income statement for the six months ending on that date[105]