Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 382,738,000, a decrease of 19.3% compared to HKD 474,242,000 in 2018[2] - Gross profit for the same period was HKD 71,998,000, down 10.4% from HKD 80,104,000 in 2018[2] - Net profit for the period was HKD 63,224,000, representing a decline of 11.5% from HKD 71,408,000 in the previous year[4] - Basic and diluted earnings per share were both HKD 0.0624, compared to HKD 0.0696 in 2018[2] - Total comprehensive income for the period was HKD 65,253,000, an increase of 10.4% from HKD 59,010,000 in 2018[10] - Total revenue for the period reached HKD 2,232,517, a decrease of 12,398 compared to the previous period[16] - The pre-tax profit for the period was HKD 74,541,000, with a net profit of HKD 71,408,000 after tax expenses of HKD 3,133,000[69][70] - Revenue from Hong Kong and China was HKD 372,686,000, down 18.8% from HKD 459,351,000 in the previous year[75] - The total financial expenses for the period were HKD 76,762,000, compared to HKD 58,364,000 in the previous year, indicating an increase of 31.5%[79] Assets and Liabilities - Non-current assets decreased to HKD 4,208,986,000 from HKD 4,679,067,000 as of March 31, 2019[12] - Current assets increased to HKD 2,847,425,000 from HKD 2,210,107,000 as of March 31, 2019[12] - Total liabilities increased to HKD 1,367,538,000 from HKD 1,149,146,000 as of March 31, 2019[14] - The company reported retained earnings of HKD 2,003,175, reflecting a stable financial position[16] - The company recognized lease liabilities of HKD 58,611,000 as of April 1, 2019, with current lease liabilities at HKD 22,602,000 and non-current lease liabilities at HKD 36,009,000[52] - Accounts payable as of September 30, 2019, totaled HKD 101,529,000, an increase from HKD 88,183,000 as of March 31, 2019[96] - Total borrowings amounted to approximately HKD 3.94 billion, with HKD 850 million due within one year[118] Cash Flow - Net cash generated from operating activities was HKD 19,900, up from HKD 13,833 in the previous period[19] - Cash flow from investing activities was HKD 421,367, compared to a cash outflow of HKD 117,582 in the previous period[20] - Cash flow from financing activities was HKD 34,614, an improvement from a cash outflow of HKD 54,267 in the previous period[21] - The net increase in cash and cash equivalents was HKD 475,881, compared to a decrease of HKD 158,016 in the previous period[22] - Cash and cash equivalents at the end of the period totaled HKD 1,299,979, up from HKD 708,502 in the previous period[25] - The group has a cash balance of approximately HKD 1.3 billion as of September 30, 2019, up from HKD 812 million as of March 31, 2019[118] Investment and Property - The company reported a fair value increase of investment properties amounting to HKD 20,443,000 compared to HKD 2,615,000 in 2018[2] - The fair value of investment properties as of September 30, 2019, was HKD 3,261,670,000, reflecting a decrease from HKD 3,816,951,000 as of March 31, 2019[89] - The company recognized a gain of HKD 19,560,000 from the sale of properties, machinery, and equipment during the period[78] - The total rental income net of expenses was HKD 33,122,000, down from HKD 42,999,000 in the previous year[81] - The fair value of investment properties in Hong Kong and China is determined using the residual method, reflecting the quality of completed development projects[92] Segment Performance - For the six months ended September 30, 2019, the company reported total revenue of HKD 382,738,000, with external sales from watch manufacturing and trading amounting to HKD 327,082,000[63] - The company achieved a segment profit of HKD 39,222,000, with hotel operations contributing HKD 25,048,000 to this figure[63] - The company’s segment performance included a profit of HKD 7,705,000 from property development and investment[63] Dividends and Share Capital - The company proposed an interim dividend of HKD 0.005 per share, consistent with the previous year[87] - The issued and fully paid share capital as of September 30, 2019, was HKD 101,079,000, with 1,010,794,962 shares in issue[102] - The company declared an interim dividend of HKD 0.005 per share, consistent with the previous year[114] Management and Governance - The company has established an Audit and Risk Management Committee, consisting of independent non-executive directors, to review accounting principles and practices[137] - The company has adopted a standard code for securities trading that meets or exceeds the requirements set out in the listing rules[138] - As of the report date, the executive directors include Mr. Li Yuanqing and others, while independent non-executive directors include Dr. Sun Bingshu and others[139]
NATIONAL ELEC H(00213) - 2020 - 中期财报