Financial Performance - The company reported revenue of HKD 1,430 million for the six months ended September 30, 2021, representing a 2% increase from HKD 1,404 million in the same period of 2020[6]. - The profit attributable to shareholders decreased by 91% to HKD 44 million, down from HKD 459 million in the previous year[11]. - Operating profit fell significantly by 76% to HKD 235 million compared to HKD 984 million in the prior year[6]. - The company's rental income for the period was HKD 92 million, compared to HKD 108 million in the previous year, indicating a decline due to ongoing pandemic restrictions[17]. - The company reported a net profit of HKD 76,243,000 for the six months ended September 30, 2021, a significant decrease from HKD 797,908,000 in the same period of 2020, representing a decline of approximately 90.4%[44]. - The total comprehensive income for the period was HKD (5,701,772,000), compared to HKD 2,869,920,000 in the previous year, indicating a substantial loss[44]. - The net profit for the six months ended September 30, 2021, was HKD 43,624,000, compared to HKD 458,519,000 for the same period in the previous year, indicating a significant decrease of approximately 90.5%[54]. - The total comprehensive income for the period was HKD 1,612,500,000, down from HKD 2,869,920,000 in the previous year, representing a decline of about 43.9%[54]. Assets and Liabilities - Total assets decreased by 13% to HKD 42,384 million from HKD 48,565 million[6]. - Net assets declined by 21% to HKD 21,692 million from HKD 27,448 million[6]. - The revalued total assets amounted to HKD 48,004 million, reflecting an 11% decrease from HKD 54,091 million[6]. - The debt-to-equity ratio increased to 60% from 47% due to the rise in net debt against revalued net assets[6]. - The group's current assets net value was HK$8.2 billion as of September 30, 2021, down from HK$11.8 billion on March 31, 2021, with total cash and securities of HK$12.7 billion, covering short-term debt of HK$3.9 billion by 3.3 times[24]. - The total liabilities decreased from HKD 7,095,398,000 as of March 31, 2021, to HKD 5,057,170,000 as of September 30, 2021, a reduction of approximately 28.8%[46]. - The company's equity attributable to shareholders decreased to HKD 11,484,732,000 from HKD 14,677,100,000, representing a decline of about 21.0%[49]. - The total liabilities as of September 30, 2021, were HKD 10,207,365,000, compared to HKD 12,770,520,000 as of March 31, 2021, showing a reduction of approximately 20.0%[54]. Investments and Financial Instruments - The financial investments held by the company amounted to approximately HKD 10.54 billion as of September 30, 2021, down from HKD 17.50 billion as of March 31, 2021, with 94% of the portfolio in listed debt securities[19]. - The company reported a significant loss in fair value of debt securities amounting to HKD (5,475,628,000) for the period, compared to a gain of HKD 2,065,004,000 in the previous year[44]. - The company reported a net investment loss of HKD 1,249,530 thousand, significantly impacting overall performance[80]. - The fair value gain from investment properties was HKD 314,944 thousand, contributing positively to the financial results[80]. - The company reported a fair value loss of HKD 3,216,974,000 on financial assets measured at fair value through other comprehensive income for the six months ended March 31, 2021[54]. - The company’s total liabilities as of September 30, 2021, were HKD 20,691,963, compared to HKD 21,117,052 as of March 31, 2021[83]. Operational Developments - In the Tongzhou project, the company achieved contract sales of approximately RMB 1 billion during the period, with total sales reaching RMB 4 billion as two-thirds of residential units were sold[12]. - The company is currently undergoing renovation works on six residential buildings in Beijing Tongzhou, with the foundation works for two commercial buildings in progress[12]. - The company is currently in the planning stage for a high-end residential project on Alberni Street, with a floor area of approximately 627,000 square feet[17]. - The average occupancy rate for the company's hotels in Wan Chai and Central decreased by 6% compared to the same period last year, reflecting the impact of strict quarantine measures[17]. - The company is implementing strategies to enhance occupancy rates and revenue, including long-term accommodation offers targeting local customers[19]. Debt and Financing - The company reported a net debt of HKD 16,579 million, an increase of 5% from HKD 15,819 million[6]. - Net debt amounted to HK$16.6 billion as of September 30, 2021, compared to HK$15.8 billion on March 31, 2021, with a net debt to revalued asset ratio of approximately 60%[24]. - The total borrowings as of September 30, 2021, were HKD 18,718,599,000, compared to HKD 17,994,031,000 as of March 31, 2021[139]. - Long-term bank loans due within one year were HKD 3,873,803,000 as of September 30, 2021, compared to HKD 4,483,727,000 as of March 31, 2021[142]. - The company’s long-term bank loans amounted to HKD 14,844,796,000 as of September 30, 2021, an increase from HKD 13,176,979,000 as of March 31, 2021[142]. Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2021, consistent with the previous year[106]. - The weighted average number of shares outstanding for the calculation of earnings per share remained unchanged at 840,873,996 for both periods[108]. - The company’s directors held a total of 509,672,171 shares, representing 60.61% of the issued shares as of September 30, 2021[157]. - The company has a total issued and paid-up share capital of HKD 84,087,000 as of September 30, 2021[143]. Corporate Governance and Compliance - The company has fully complied with the standards set out in the code of conduct for securities transactions during the period[190]. - The company has adhered to the corporate governance code, with exceptions regarding the appointment of non-executive directors and the establishment of a nomination committee[191].
汇汉控股(00214) - 2022 - 中期财报