Financial Performance - The group reported an unaudited consolidated loss after tax of HKD 62,176,000 for the six months ended December 31, 2020, compared to a profit of HKD 34,122,000 in the same period last year[3]. - The company reported a net loss of HKD 62,176,000 for the six months ended December 31, 2020, compared to a profit of HKD 34,122,000 in the same period of 2019[30]. - Total comprehensive income for the period amounted to HKD 214,298,000, a significant increase from a loss of HKD 37,534,000 in the previous year[30]. - The loss attributable to equity holders for the period was HKD 62,110,000, compared to a profit of HKD 33,565,000 in the same period last year[128]. - Basic and diluted loss per share was HKD 0.10, compared to earnings of HKD 0.06 per share in the previous year[128]. - The pre-tax profit for the six months ended December 31, 2020, was HKD 13,973,000, a decrease from HKD 17,085,000 in 2019, reflecting a decline of approximately 18.4%[68]. - The total income tax expense for the period was HKD 643,236,000, significantly higher than HKD 114,181,000 in 2019, marking an increase of approximately 463.5%[72]. Revenue and Sales - The group's revenue for the six months ended December 31, 2020, was HKD 878,860,000, a significant increase from HKD 304,226,000 in the previous year[29]. - Total revenue for the six months ended December 31, 2020, was HKD 889,560,000, a significant increase from HKD 314,593,000 for the same period in 2019, representing a growth of approximately 183%[58]. - Property sales contributed HKD 836,598,000 to the total revenue, up from HKD 267,773,000 in the previous year, marking a growth of about 212%[58]. - Cumulative sales for Zhuo Neng Ya Yuan in Longhua, Shenzhen reached 769 units, with total sales amounting to RMB 3.729 billion[13]. Dividends - The board declared an interim dividend of HKD 0.02 per share, down from HKD 0.075 per share in the previous year[4]. - The company declared an interim dividend of HKD 13,054,000 for the six months ended December 31, 2020, down from HKD 46,565,000 in 2019, a decrease of about 71.9%[74]. Assets and Liabilities - The company's non-current assets, including investment properties, decreased to HKD 6,792,744,000 from HKD 7,084,875,000 year-over-year[32]. - Current assets increased to HKD 4,270,776,000, up from HKD 3,738,763,000, driven by higher cash and cash equivalents[32]. - The company's total assets less current liabilities stood at HKD 7,987,038,000, slightly up from HKD 7,983,915,000[33]. - The company's total debt to equity ratio was 15.7% as of December 31, 2020, down from 22.0% on June 30, 2020[133]. - The total bank borrowings secured by the group's assets amounted to HKD 950,000,000 as of December 31, 2020, compared to HKD 1,261,000,000 as of June 30, 2020[109]. Cash Flow - The net cash generated from operating activities was HKD 204,016,000, compared to HKD 180,237,000 in the prior year[36]. - Cash and cash equivalents decreased by HKD 508,972,000 during the period, with a closing balance of HKD 825,436,000[36]. - The total cash and bank balances were HKD 842,934,000 as of December 31, 2020, down from HKD 1,236,667,000 as of June 30, 2020[94]. - Cash and bank balances, along with structured deposits, amounted to HKD 1,964,369,000, an increase from HKD 1,663,545,000 on June 30, 2020[133]. Operational Performance - The group anticipates gradual economic recovery in the second half of the year as the COVID-19 situation improves[24]. - The company plans to continue expanding its investment properties and exploring new financial assets to enhance overall performance[30]. - The group plans to continue expanding its market presence and developing new products to sustain growth in the upcoming periods[58]. - The company's operational performance is assessed based on pre-tax profits across its business segments, indicating a structured approach to resource allocation and performance evaluation[52]. Property Management - The rental rate for Zhao Garden Phase II in Pokfulam remained at 85%[8]. - The occupancy rate for Zhao Garden Phase III in Pokfulam was 95%, contributing positively to rental income[9]. - The property management segment generated revenue of HKD 10,341,000, which is a significant increase from HKD 4,302,000 in the previous year, representing a growth of approximately 140%[58]. Financial Costs - Interest income for the group totaled HKD 9,520,000, while interest expenses amounted to HKD 13,973,000, resulting in a net financial cost of HKD 4,453,000[66]. - Total financial costs decreased to HKD 18,494,000 from HKD 27,518,000, representing a reduction of about 32.8%[68]. - Interest expenses for the period were HKD 18,494,000, a decrease of 32.8% from HKD 27,518,000 in the same period last year, primarily due to reduced borrowing costs[137]. Market Conditions - The unemployment rate in Hong Kong has reached a 17-year high of 7% due to the ongoing impact of the coronavirus pandemic[166]. - The average interest rate during the review period was 3.0%, down from 3.5% in the previous year[137]. - The company anticipates gradual economic improvement in the second half of the year as the coronavirus situation potentially stabilizes[166]. Compliance and Governance - The audit committee reviewed the company's accounting principles and practices, confirming that the financial statements for the six-month period ending December 31, 2020, were appropriate and met disclosure requirements[172]. - The company has adopted a standard code for securities trading by directors and related employees, ensuring compliance with the listing rules[174]. - The group has no significant transactions or arrangements involving its directors or related parties during the year[114].
卓能(集团)(00131) - 2021 - 中期财报