英皇国际(00163) - 2020 - 中期财报

Financial Performance - Total revenue for the six months ended September 30, 2019, decreased to HKD 1,238,031,000, a decline of 19.4% compared to HKD 1,536,451,000 in 2018[3] - The company recorded a loss attributable to shareholders of HKD 519,311,000, compared to a profit of HKD 2,504,915,000 in 2018, reflecting a significant downturn[7] - Basic earnings per share were reported at a loss of HKD 0.14, compared to earnings of HKD 0.68 per share in the previous year[7] - The group experienced a significant decrease in gross profit, reporting HKD 858.8 million compared to HKD 1,094.8 million in the previous year, reflecting a decline of approximately 21.5%[42] - The group’s operating loss was HKD 12.3 million, contrasting with an operating profit of HKD 3.1 billion in the same period last year[42] - The group’s total comprehensive loss for the period was HKD 1,034.1 million, compared to a comprehensive income of HKD 1,703.8 million in 2018[44] - The net loss for the period was HKD 439,866,000, compared to a profit of HKD 2,575,489,000 in the previous year[106] Revenue Sources - Rental income fell to HKD 513,455,000, down 13.1% from HKD 590,521,000 in the previous year, accounting for 41.5% of total revenue[6] - Service income from gaming operations increased to HKD 559,548,000, up 2.5% from HKD 546,677,000 year-on-year[103] - Hotel room revenue decreased to HKD 90,387,000, down 18.6% from HKD 111,078,000 in the previous year[103] - The group’s rental income from investment properties was HKD 724,576,000, down from HKD 945,930,000 in the previous year[103] Dividends and Shareholder Returns - The interim dividend declared was HKD 0.035 per share, a decrease of 25.5% from HKD 0.047 per share in 2018[3] - The board declared an interim dividend of HKD 0.035 per share, totaling approximately HKD 128.7 million, down from HKD 172.8 million in 2018[40] Assets and Liabilities - The group's net asset value as of September 30, 2019, was HKD 30,509,600,000, down from HKD 31,835,100,000 as of March 31, 2019[8] - Cash and bank deposits totaled HKD 3,428,700,000 as of September 30, 2019, compared to HKD 3,944,500,000 on March 31, 2019[10] - The company’s total liabilities decreased from HKD 34,357,840 as of March 31, 2019, to HKD 33,041,239 as of September 30, 2019, reflecting a reduction of approximately 3.8%[49] - Non-current liabilities totaled HKD 24,668,603 as of September 30, 2019, compared to HKD 23,081,444 as of March 31, 2019, representing an increase of approximately 6.9%[49] - The company’s total liabilities related to connected parties amounted to HKD 1,169,744,000 as of September 30, 2019, down from HKD 1,229,228,000 as of March 31, 2019[151] Investment and Development Projects - The company acquired a premium investment property located in Sheung Wan, Hong Kong, enhancing its property portfolio and income base[16] - The group is developing a mixed-use building in Shanghai with a total floor area of approximately 1,300,000 square feet, which will include a shopping mall and hotel or serviced apartments[23] - The group plans to complete a Grade A office project in Wan Chai, Hong Kong, with a total floor area of about 96,000 square feet by 2020[20] - A redevelopment project in Central, Hong Kong, will transform a site into a 27-story residential building with a total floor area of approximately 107,000 square feet, expected to be completed by 2023[29] - The group is actively pursuing revitalization projects to enhance property value and expand potential rental income, supported by local government measures[20] Financial Reporting Standards - The group has adopted the new and revised Hong Kong Financial Reporting Standards effective from April 1, 2019, which include HKFRS 16 on leases, impacting the financial statements significantly[57] - The application of HKFRS 16 has resulted in changes to accounting policies, particularly in how leases are recognized and measured, replacing HKAS 17[60] - The group has recognized right-of-use assets at the commencement of the lease term, measured at cost less accumulated depreciation and impairment losses[66] - The group has included fixed payments and variable lease payments based on indices or rates in the measurement of lease liabilities[74] Employee and Management Costs - The total employee cost for the period amounted to HKD 344 million, an increase from HKD 334.3 million in 2018, with the number of employees at 1,692[37] - Total remuneration paid to key management personnel for the six months ended September 30, 2019, was HKD 9,852,000, an increase of 8.8% from HKD 9,055,000 in 2018[148] Shareholder Information - The company’s major shareholders include Ms. Lu, holding 74.71% of the voting rights, and Mr. Yang, also holding 74.71% through AY Trust[161] - As of September 30, 2019, the company reported that Ms. Lu holds 68.61% of Emperor Entertainment Hotel Limited with 851,352,845 shares[166] - Mr. Yang holds 74.71% of Yang Shou Cheng Industrial Holdings with 2,747,610,489 shares[169] Miscellaneous - The group has pledged assets with a book value of HKD 46.4 billion as collateral for bank financing, a decrease from HKD 48.7 billion as of March 31, 2019[38] - The company has not granted any stock options under its stock option plan since its adoption on August 15, 2013[172] - The company has complied with all provisions of the Corporate Governance Code during the reporting period[173]