Financial Performance - Total revenue for the six months ended June 30, 2021, was HKD 191,817,000, an increase of 9.3% from HKD 174,563,000 in the same period of 2020[13] - Gross profit for the same period was HKD 131,574,000, compared to HKD 140,776,000 in 2020, reflecting a decrease of 6.5%[13] - Operating profit for the six months was HKD 199,342,000, a significant recovery from an operating loss of HKD 120,602,000 in the previous year[13] - The net profit attributable to shareholders was HKD 171,740,000, compared to a loss of HKD 135,749,000 in the same period last year[13] - Earnings per share for the period was HKD 0.60, compared to a loss per share of HKD 0.47 in 2020[13] - The company reported a total comprehensive income of HKD 228,640,000 for the six months, a significant increase from HKD 17,900,000 in the same period of 2020[18] - The group reported a basic profit of HKD 174,270,000 for the six months ended June 30, 2021, compared to a loss of HKD 133,542,000 in the same period of 2020[48] - Basic earnings per share for the first half of 2021 were HKD 0.60, compared to a loss per share of HKD 0.47 in the same period of 2020[101] Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 11,381,304,000, an increase from HKD 11,107,247,000 at the end of 2020[10] - Total equity increased to HKD 8,326,549,000 from HKD 8,133,395,000 at the end of 2020, representing a growth of 2.4%[10] - The group's total liabilities were HKD 3,054,755,000, with current liabilities amounting to HKD 813,479,000 as of June 30, 2021[50] - Long-term bank loans amounted to HKD 2,063,373,000 as of June 30, 2021, with a portion due within one year being HKD 166,732,000[71] - The group's current liabilities net value as of June 30, 2021, was HKD 506,344,000, primarily consisting of short-term bank loans of HKD 479,912,000[29] Cash Flow - For the six months ended June 30, 2021, the net cash generated from operating activities was HKD 72,594,000, a slight decrease from HKD 73,659,000 in the same period of 2020[22] - The net cash used in investing activities amounted to HKD (114,468,000), compared to HKD (149,308,000) in the previous year, indicating a reduction in investment outflows[22] - The net cash generated from financing activities was HKD 53,317,000, a significant decrease from HKD 210,537,000 in the prior year, reflecting changes in financing strategies[22] - As of June 30, 2021, cash and cash equivalents increased to HKD 152,814,000 from HKD 134,888,000 at the beginning of the period[22] Investment and Capital Expenditure - Capital expenditure for the six months ended June 30, 2021, was HKD 88,966,000, compared to HKD 188,204,000 in the same period of 2020[48] - The company continues to focus on expanding its investment properties, with fair value gains contributing positively to the overall financial performance[13] - Total investment property valuation as of June 30, 2021, was HKD 8.99 billion, an increase of HKD 335.1 million or 3.9% from HKD 8.65 billion as of December 31, 2020[102] Dividends and Shareholder Information - The interim dividend declared was HKD 0.10 per ordinary share, consistent with the previous year, totaling HKD 28,767,000 for both periods[90] - Major shareholder Jin Chan Company holds 138,998,248 shares, representing 48.32% of total shares[122] - The company did not repurchase or sell any of its shares during the reporting period[125] Corporate Governance and Management - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange, with the exception of the separation of roles between the Chairman and CEO, which are held by the same individual, Mr. Ma Qingwei[127] - The board believes that having the same person serve as both Chairman and CEO provides stable and consistent leadership, beneficial for strategic planning and execution[127] - The company remains confident in its operations and will continue to adopt a prudent approach amid ongoing uncertainties[106] Risk Management and Financial Stability - There were no changes in risk management policies since the end of last year, indicating stability in financial risk management[32] - The company believes it has sufficient financial resources to meet operational needs and settle liabilities as they fall due, supporting its going concern assumption[29] - The group maintains a strong financial position with sufficient committed bank credit facilities to meet current and future funding needs[109] Employee Information - As of June 30, 2021, the total number of full-time employees was 220, including directors[113]
大生地产(00089) - 2021 - 中期财报