Financial Performance - Revenue for the six months ended December 31, 2020, was HK$139,593,000, a decrease of 46.1% compared to HK$262,215,000 in the previous period[5] - Gross profit for the same period was HK$44,652,000, down 8.5% from HK$48,719,000 in the previous period[5] - The loss for the period was HK$26,763,000, compared to a profit of HK$8,515,000 in the previous period, indicating a significant decline[5] - The company reported a loss before taxation of HK$26,381,000 for the six months ended December 31, 2020, compared to a profit of HK$8,702,000 in the same period of 2019[26] - The Group incurred a loss before taxation of HK$26,381,000 for the period, compared to a loss of HK$5,328,000 in the same period of the previous year[48] - The loss attributable to owners of the company for the same period was HK$30,702,000, compared to a profit of HK$5,465,000 in the previous year[70] Comprehensive Income - Other comprehensive income for the period was HK$9,847,000, compared to a loss of HK$225,000 in the previous period[9] - Total comprehensive expense for the period was HK$16,916,000, compared to a total comprehensive income of HK$8,290,000 in the previous period[9] - The company reported a loss for the period, with total comprehensive expenses amounting to HK$30,702,000 for the six months ended December 31, 2020[21] Assets and Liabilities - Non-current assets as of December 31, 2020, totaled HK$146,055,000, a slight decrease from HK$148,318,000 as of June 30, 2020[13] - Current assets increased to HK$305,542,000 from HK$300,098,000 as of June 30, 2020[13] - Current liabilities rose to HK$99,248,000 from HK$133,146,000 as of June 30, 2020, indicating improved liquidity[13] - As of December 31, 2020, the company's net assets decreased to HK$45,816,000 from HK$62,724,000 as of June 30, 2020, representing a decline of approximately 26.9%[17] - Total liabilities increased from HK$262,896,000 to HK$306,533,000, representing an increase of approximately 16.6%[17] Equity - The total equity attributable to owners of the company showed a deficit of HK$7,931,000 compared to an equity of HK$17,305,000 as of June 30, 2020, indicating a significant deterioration in financial position[17] - The company's accumulated losses reached HK$4,504,579,000 as of December 31, 2020, compared to HK$4,535,281,000 as of June 30, 2020, indicating a slight improvement in accumulated losses[21] - The share capital remained unchanged at HK$68,383,000 for both periods[21] Cash Flow - Cash generated from operations was HK$33,182,000, a significant recovery from a cash usage of HK$83,534,000 in the previous year[26] - Net cash generated from operating activities amounted to HK$32,800,000, compared to a net cash usage of HK$83,721,000 in the prior year[26] - The net cash used in financing activities was HK$25,319,000, a reduction from HK$92,687,000 in the prior year[29] - The company had cash and cash equivalents of HK$133,230,000 at the end of the period, an increase from HK$101,170,000 at the end of the previous year[29] Revenue Breakdown - Revenue from the sale of cultural products was HK$34,381,000, down from HK$51,875,000 in 2019, reflecting a decrease of about 33.7%[43] - Revenue from technology system sales, including software licensing, was HK$56,062,000, compared to HK$190,640,000 in the previous year, indicating a decline of approximately 70.7%[48] - Revenue from trading of gasoil was HK$65,446,000, down from HK$180,640,000 in the same period of 2019, representing a decrease of approximately 63.7%[48] - The Group's renewable energy product sales generated revenue of HK$4,234,000, up from HK$1,112,000 in the previous year, reflecting an increase of about 280.5%[48] Impairment and Losses - The company reported a significant impairment loss on property, plant, and equipment amounting to HK$7,382,000 during the period[5] - The company incurred an impairment loss on vessels amounting to HK$7,382,000 during the reporting period[26] - An impairment loss of approximately HK$7,382,000 was recognized for the period ended December 31, 2020, due to the carrying amount of a vessel exceeding its recoverable amount[77] Financial Obligations - Finance costs amounted to HK$19,253,000, reflecting the company's financial obligations[55] - Interest income for the period was HK$3,718,000, while finance costs amounted to HK$16,600,000[48] - The effective interest rate applicable to finance leases is approximately 3.96% per annum[84] Trade Receivables and Payables - As of December 31, 2020, trade receivables amounted to HK$65,566,000, an increase of 9.6% from HK$59,992,000 as of June 30, 2020[100] - The ageing analysis of trade receivables shows that HK$37,903,000 (57.8%) were overdue by 91-180 days as of December 31, 2020, compared to HK$17,412,000 (29.1%) for the same period in 2020[102] - Trade and bills payables amounted to HK$30,839,000, a significant increase from HK$9,541,000 as of June 30, 2020[126] Management and Personnel - Key management personnel remuneration totaled HK$8,070,000 for the six months ended December 31, 2020, an increase of 3.5% from HK$7,798,000 in the same period of 2019[185] - Performance-related incentive payments increased to HK$1,320,000 for the six months ended December 31, 2020, up from HK$1,065,000 in 2019, reflecting a growth of 24%[185] Investment Properties and Fair Value - Investment properties valued at HK$45,170,000 as of December 31, 2020, with HK$45,170,000 classified under Level 3 fair value measurement[196] - Listed equity securities amounted to HK$59,795,000 as of December 31, 2020, all classified under Level 1 fair value measurement[196] - The fair values of listed shares in Hong Kong are determined based on market closing prices quoted on the Stock Exchange[120]
冠军科技集团(00092) - 2021 - 中期财报