Financial Performance - For the six months ended September 30, 2021, the revenue from continuing operations was HKD 127 million, a 77% increase from HKD 70 million in the same period last year[7]. - The gross profit for the same period was HKD 13 million, compared to HKD 12 million in the previous year, indicating a slight increase[7]. - The loss from continuing operations for the six months was HKD 60 million, compared to a loss of HKD 34 million in the same period last year, representing a significant increase in losses[7]. - The total loss for the period was HKD 67 million, up from HKD 34 million in the previous year, reflecting a worsening financial performance[8]. - Basic and diluted loss per share from continuing and discontinued operations was HKD 1.02, compared to HKD 0.42 in the previous year, indicating a decline in shareholder value[9]. - The company reported a loss of HKD 49 million attributable to shareholders from continuing operations, compared to HKD 23 million in the previous year, highlighting increased operational challenges[8]. - The company reported a total comprehensive loss of HKD 62 million for the six months ended September 30, 2021, compared to a loss of HKD 32 million in the same period of 2020, representing a 93.75% increase in losses[10]. - The loss attributable to shareholders from continuing operations was HKD 45 million, up from HKD 21 million in the previous year, indicating a 114.29% increase[10]. - The group incurred a total loss before tax of HKD 32 million for the six months ended September 30, 2021[32]. - The pre-tax loss for the period was HKD 56 million, compared to a loss of HKD 23 million in the prior year, reflecting a 143.48% increase in losses[42]. Revenue and Sales - The total revenue for the six months ended September 30, 2021, was HKD 127 million, a significant increase from HKD 70 million for the same period in 2020, representing an 81.43% growth[34]. - Revenue from property development in China reached HKD 98 million, up from HKD 43 million in the previous year, indicating a 128.57% increase[34]. - Revenue from the subsidiary Emerson was HKD 29 million, a 7% increase from HKD 27 million in the corresponding period, driven by increased demand for certain products due to more time spent at home[82]. - The home appliance, wire, and cable trading business in China generated revenue of HKD 98 million, a significant increase of approximately 128% from HKD 43 million in the corresponding period, attributed to rising copper prices and new customer acquisition efforts[83]. - The discontinued operations generated revenue of HKD 7 million for the six months ended September 30, 2021, compared to HKD 8 million for the same period in 2020[75]. Expenses and Costs - The administrative expenses for the period were HKD 51 million, up from HKD 35 million in the previous year, indicating rising operational costs[7]. - The financing costs for the ongoing business amounted to HKD 91 million, a substantial rise from HKD 4 million in the same period last year[36]. - The company reported a total of HKD 114 million in cost of goods sold, which increased from HKD 58 million year-over-year, marking a 96.55% rise[37]. - The group plans to control administrative and operating costs through various measures, including human resource optimization and capital expenditure control[22]. Cash Flow and Assets - Cash and bank balances increased to HKD 799 million as of September 30, 2021, compared to HKD 430 million as of March 31, 2021, reflecting an increase of 85.12%[11]. - The company experienced a cash outflow from operating activities of HKD 1,057 million for the six months ended September 30, 2021, compared to HKD 582 million in the same period of 2020, indicating an increase in cash used[14]. - The company generated negative operating cash flow of HKD 1,057 million during the reporting period[19]. - The total assets of the company as of September 30, 2021, were HKD 7,629 million, compared to HKD 6,415 million as of March 31, 2021, reflecting an increase of 18.93%[11]. - The company’s equity attributable to shareholders decreased to HKD 322 million from HKD 374 million, a decline of 13.91%[12]. - The current ratio as of September 30, 2021, was approximately 2.24, an increase from 1.82 on March 31, 2021, due to increased cash and bank balances[93]. Liabilities and Financing - Current liabilities decreased significantly, with accounts payable dropping to HKD 510 million from HKD 1,598 million, a reduction of 68.15%[12]. - The total liabilities increased to HKD 5,923 million from HKD 5,898 million, indicating a slight rise of 0.42%[33]. - The company’s bank loans due within one year were HKD 960 million as of September 30, 2021[58]. - The group has pledged development properties with a total book value of HKD 2,464,000,000 to secure bank financing[98]. - The group obtained new bank borrowings of approximately RMB 860,000,000 (equivalent to about HKD 1,037,000,000) at interest rates ranging from 4.4% to 7.5%[93]. Development Projects - The company has eight property development projects, with six of them having commenced pre-sales[21]. - The company has eight ongoing property development projects across seven cities in five provinces in China, with a total equity contract sales amounting to approximately RMB 777 million, selling about 99,450 square meters at an average price of RMB 7,800 per square meter[86]. - As of September 30, 2021, the total equity construction area of ongoing projects was approximately 837,900 square meters, with 699,800 square meters available for sale[87]. - The land reserve as of September 30, 2021, included an equity construction area of approximately 413,200 square meters and an equity saleable area of approximately 359,800 square meters[88]. - The company has capital commitments of HKD 2,208 million for properties under development as of September 30, 2021, an increase from HKD 1,351 million as of March 31, 2021[78]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and confirmed compliance with all principles and provisions[109]. - The board of directors has mandated the audit committee to oversee the financial reporting process[114]. - The company is committed to maintaining transparency in its financial disclosures[114]. - The management believes that no provisions are necessary regarding ongoing legal cases, considering the low likelihood of default[72]. Shareholder Information - The company’s issued share capital was HKD 55 million as of September 30, 2021, with 5,492,233,000 shares issued[68]. - Mr. Tam holds a total of 3,616,712,779 shares, representing approximately 65.85% of the company's issued share capital[104]. - Sino Bright Enterprises Co. Ltd. holds 1,023,463,423 shares, accounting for approximately 18.63% of the company's issued share capital[104]. - LEHD Pte. Ltd. is a trustee holding 1,428,769,939 shares, which is about 26.01% of the company's issued share capital[104]. - The company did not recommend any interim dividend for the period, consistent with the previous year[40].
敏捷控股(00186) - 2022 - 中期财报