Financial Performance - Gross revenue for the six months ended September 30, 2020, was RMB 763.6 million, a decrease of 22% from RMB 977.5 million in the same period of 2019[10] - EBITDA for the same period reported a loss of RMB 494.5 million, compared to a loss of RMB 158.4 million in 2019[10] - The loss attributable to equity shareholders was RMB 614.6 million, resulting in a basic loss per share of 26.4 cents, compared to a loss of RMB 289.7 million and 12.5 cents per share in 2019[10] - Revenue for the six months ended September 30, 2020, was RMB 264,945,000, a decrease of 22.2% from RMB 340,486,000 in 2019[17] - Loss for the period was RMB 646,319,000, compared to a loss of RMB 292,259,000 in the same period of 2019, representing a 121.1% increase in losses[19] - Basic and diluted loss per share was RMB 0.264, compared to RMB 0.125 in 2019, indicating a significant increase in loss per share[17] - Total comprehensive income for the period was RMB (618,535,000), compared to RMB (325,459,000) in 2019, reflecting a worsening financial position[22] - Total comprehensive income for the six months ended September 30, 2020, was RMB (618,535,000), highlighting ongoing financial challenges[41] - Loss before taxation for the six months ended September 30, 2020, was RMB 648,317,000, compared to a loss of RMB 292,091,000 in 2019[104] Assets and Liabilities - Net assets of the Group decreased to RMB 2,090.6 million from RMB 2,708.7 million as of March 31, 2020[10] - NAV per ordinary share fell to RMB 1.78 from RMB 2.28 in the previous year[10] - Non-current assets decreased to RMB 6,314,289,000 from RMB 6,669,619,000, indicating a reduction in long-term asset value[26] - Current liabilities decreased to RMB 2,723,348,000 from RMB 2,645,748,000, showing a slight improvement in short-term financial obligations[26] - Net assets as of September 30, 2020, were RMB 2,090,575,000, down from RMB 2,708,718,000, indicating a decline in overall equity[28] - Total equity as of September 30, 2020, is RMB 2,090,575,000, a decrease from RMB 2,708,718,000 as of March 31, 2020, representing a decline of approximately 22.8%[29] - The company reported retained profits of RMB (1,516,968,000) as of September 30, 2020, indicating accumulated losses[42] - As of September 30, 2020, the Group reported net current liabilities of RMB 1,937,453,000 and a net loss of RMB 646,319,000 for the six months ended September 30, 2020[65] Cash Flow and Financing - For the six months ended September 30, 2020, the net cash used in operating activities was RMB (424,840,000), compared to RMB 35,797,000 in the same period of 2019[46] - The company generated net cash from investing activities of RMB 3,369,000 in the first half of 2020, while it had a net cash used of RMB (67,542,000) in the same period of 2019[49] - Proceeds from new bank loans amounted to RMB 1,416,253,000 in the first half of 2020, significantly higher than RMB 336,000,000 in 2019[49] - The company reported a net increase in cash and cash equivalents of RMB 3,202,000 for the period, compared to a net decrease of RMB (219,212,000) in the previous year[49] - The total cash and cash equivalents at the end of the period were RMB 28,823,000, down from RMB 34,395,000 at the end of the same period in 2019[49] - The repayment of bank loans in the first half of 2020 was RMB (1,423,862,000), compared to RMB (260,966,000) in the same period of 2019[49] - The company incurred other finance costs paid amounting to RMB (177,167,000) in the first half of 2020, compared to RMB (101,808,000) in 2019[49] - The net cash generated from financing activities was RMB 424,673,000 in the first half of 2020, contrasting with a net cash used of RMB (187,467,000) in the same period of 2019[49] Operational Performance - Sales per ticket decreased to RMB 1,102, down from RMB 1,152 in 2019[15] - Annualised area efficiency dropped to RMB 18,300 per m² from RMB 23,200 per m² in the previous year[15] - Sales of goods amounted to RMB 116,644,000, down 26% from RMB 157,733,000 year-on-year[82] - Net income from concession sales and management service fees was RMB 95,686,000, a decline of 20% compared to RMB 120,315,000 in 2019[82] - Gross rental income decreased to RMB 32,477,000 from RMB 36,490,000, representing an 11% drop[82] - Revenue recognized at a point in time was RMB 212,330,000, down 24% from RMB 278,048,000 in the previous year[93] - Revenue recognized over time was RMB 52,615,000, a decrease of 16% from RMB 62,438,000 in 2019[93] - The Group operates 5 department stores and 7 supermarkets, with no single customer accounting for more than 10% of total revenue[77] Impairment and Depreciation - The company reported an impairment loss on goodwill and intangible assets of RMB 365,855,000, significantly higher than RMB 197,426,000 in 2019, indicating potential challenges in asset valuation[17] - Impairment losses on goodwill and intangible assets increased significantly to RMB 365,855,000 in 2020 from RMB 197,426,000 in 2019[104] - The accumulated impairment losses for intangible assets as of September 30, 2020, were RMB 215,166,000, reflecting a significant impairment charge during the period[153] - The company reported a charge for the year in depreciation of RMB 165,095,000[127] Taxation - The company did not make any provision for Hong Kong Profits Tax for the six months ended September 30, 2020, as there were no assessable profits[115] - The PRC Corporate Income Tax rate applicable to the company's subsidiaries in the PRC remained at 25% for the six months ended September 30, 2020[119] - The company is subject to a corporate income tax rate of 25% in China, with certain subsidiaries eligible for a reduced rate of 15% under specific tax incentives from 2011 to 2020[121] Other Financial Information - The financial report is unaudited, indicating that the figures may be subject to change upon final audit[130] - The interim financial report is unaudited but has been reviewed by KPMG, ensuring compliance with relevant standards[60] - The financial information for the year ended March 31, 2020, included in the report is derived from statutory financial statements, which received an unqualified opinion from auditors[64] - The company has terminated its share award scheme, which may impact future equity compensation strategies[42] - The company has begun cooperation with the prepaid card management company since 2009, but terminated the original cooperation agreement on October 31, 2019[196]
世纪金花(00162) - 2020 - 中期财报