Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 55,014,000, a decrease of 21.4% compared to HKD 69,882,000 for the same period in 2019[8]. - Gross profit for the same period was HKD 28,962,000, down 37.7% from HKD 46,485,000 in 2019[8]. - The company reported a loss before tax of HKD 61,496,000, significantly improved from a loss of HKD 272,299,000 in the previous year, representing a reduction of 77.4%[8]. - Total comprehensive loss for the period was HKD 39,449,000, compared to HKD 370,424,000 in 2019, indicating a substantial decrease of 89.4%[10]. - The basic and diluted loss per share for the period was HKD 0.753, an improvement from HKD 3.669 in the same period last year[8]. - The company reported a loss of HKD 54,891,000 for the period, leading to a total comprehensive loss of HKD 39,449,000[17]. - The group reported a loss of approximately HKD 54,906,000, a reduction of about 79.5% compared to a loss of HKD 267,634,000 in the same period last year[138]. - The loss attributable to shareholders for the period was approximately HKD 54,891,000, compared to HKD 267,616,000 in the previous year[138]. Revenue Breakdown - The property investment segment generated revenue of HKD 14,858 thousand, a decrease of 52.8% compared to HKD 31,496 thousand in 2019[34]. - The hotel business reported revenue of HKD 17,047 thousand, slightly down by 1.7% from HKD 17,348 thousand in the prior year[34]. - Agricultural business revenue increased to HKD 23,109 thousand, up 9.8% from HKD 21,038 thousand in 2019[34]. - Revenue from external customers in China for the six months ended September 30, 2020, was HKD 31,905, down from HKD 48,844 in the same period of 2019[56]. - The agricultural business's major customer A generated revenue of HKD 20,237 for the six months ended September 30, 2020, compared to HKD 20,997 in the previous year[57]. - The group recorded rental income from property investment of approximately HKD 14,858,000, a decrease from HKD 31,496,000 in the same period last year, accounting for 27% of total revenue[140]. - The group’s hotel business revenue decreased by 1.7% to HKD 17,047,000, compared to HKD 17,348,000 in the previous year[137]. - The group’s agricultural business maintained stable revenue at approximately HKD 23,109,000, up from HKD 21,038,000 in the previous year[137]. Assets and Liabilities - Total assets amounted to HKD 3,013,981,000, an increase from HKD 2,996,728,000[15]. - The company's equity attributable to owners decreased to HKD 1,918,288,000 from HKD 1,951,609,000[15]. - Total liabilities increased to HKD 1,057,770,000 from HKD 1,007,181,000[15]. - The net current assets rose to HKD 56,154,000 compared to HKD 44,882,000[15]. - The total equity decreased to HKD 1,956,211,000 from HKD 1,989,547,000[15]. - The total borrowings as of September 30, 2020, were HKD 669,519,000, a slight decrease from HKD 680,297,000 as of March 31, 2020, showing a reduction of about 1.1%[118]. - The group’s total borrowings were approximately HKD 867,056,000 as of September 30, 2020, up from HKD 818,232,000 as of March 31, 2020[154]. Cash Flow and Financial Management - For the six months ended September 30, 2020, the net cash generated from operating activities was HKD 8,219 thousand, a significant decrease from HKD 376,905 thousand in the same period of 2019, representing a decline of approximately 97.8%[25]. - The total cash and cash equivalents at the end of the reporting period was HKD 16,175 thousand, down from HKD 21,705 thousand at the end of the previous period[25]. - The financing activities net cash outflow was HKD 6,121 thousand, a significant reduction from HKD 403,573 thousand in the previous year, indicating improved cash management[25]. - The group’s cash and bank deposits amounted to approximately HKD 16,175,000 as of September 30, 2020, compared to HKD 16,188,000 as of March 31, 2020[153]. Impairments and Fair Value Adjustments - The company experienced a significant impairment loss on property, plant, and equipment amounting to HKD 31,323,000, which was not recorded in the previous year[8]. - The company recognized a fair value loss on investment properties of HKD 23,596,000, compared to a loss of HKD 21,111,000 in the previous year[8]. - The fair value loss on investment properties for the period was HKD 23,596[47]. - The fair value of investment properties as of September 30, 2020, was approximately HKD 614,986,000, down from HKD 631,766,000 as of March 31, 2020[76]. Shareholder Information - The company did not declare any interim dividends for the six months ended September 30, 2020, consistent with the previous year[74]. - The total number of issued and fully paid ordinary shares remained at 7,294,369,363 as of September 30, 2020, consistent with the previous reporting period[106]. - Rich Monitor Limited holds 1,033,300,000 shares, representing 14.17% of total equity[170]. - Pengxin Holdings Limited owns 709,000,000 shares, accounting for 9.72% of total equity[170]. - Ansheng Holdings Company Limited has 641,135,000 shares, which is 8.79% of total equity[171]. Corporate Governance - The board of directors has complied with the corporate governance code during the review period, with some deviations noted[177]. - The chairman of the board did not attend the annual general meeting due to other commitments, but the executive director was present to answer questions[178]. - The audit committee reviewed the interim report, including the accounting principles adopted by the group[181]. - The board of directors consists of four executive directors and three independent non-executive directors as of the report date[182].
润中国际控股(00202) - 2021 - 中期财报