顺豪物业(00219) - 2020 - 中期财报

Company Information This section provides essential company details, including board composition, key banking partners, registered address, share registrar, auditor, company secretary, and website Board of Directors The company's board of directors comprises executive, non-executive, and independent non-executive directors, with Mr. Cheng Kai Man as Chairman - Executive Directors include Mr. Cheng Kai Man (Chairman), Mr. Hui Wing Ho, Ms. Lau Kam Mei, Ms. Ng Yuet Ying, Ms. Cheng Wai Kwan, with Ms. Wong Kwai Fong having retired on May 22, 2020[4] - Non-executive Director is Ms. Lui Fung Mei Yee, and Independent Non-executive Directors are Mr. Kwok Chi Sum, Mr. Chan Kim Fai, and Mr. Lam Kwai Cheung[4] Principal Bankers The company's principal bankers are The Hongkong and Shanghai Banking Corporation Limited and Bank of China (Hong Kong) Limited - Principal bankers include The Hongkong and Shanghai Banking Corporation Limited and Bank of China (Hong Kong) Limited[4] Registered Office The company's registered office is located at 3rd Floor, Shun Ho Commercial Building, 24-30 Ice House Street, Central, Hong Kong - The company's registered office is at 3rd Floor, Shun Ho Commercial Building, 24-30 Ice House Street, Central, Hong Kong[4] Share Registrar The company's share registrar is Tricor Tengis Limited, located at 54th Floor, Hopewell Centre, 183 Queen's Road East, Hong Kong - The share registrar is Tricor Tengis Limited, located at 54th Floor, Hopewell Centre, 183 Queen's Road East, Hong Kong[4] Auditor The company's auditor is Deloitte Touche Tohmatsu - The company's auditor is Deloitte Touche Tohmatsu[4] Company Secretary The company secretary is Ms. Koo Ching Fun - The company secretary is Ms. Koo Ching Fun[4] Company Website The company's website is www.shunho.com.hk - The company's website is www.shunho.com.hk[4](index=4&type=chunk) Management Discussion and Analysis This section provides an overview of the company's financial performance, business operations, liquidity, key achievements, and future outlook Interim Results H1 2020 loss attributable to owners was HKD 142 million, a significant decrease from prior year's profit, primarily due to hotel operating losses and revaluation Profit (Loss) Attributable to Company Owners | Metric | H1 2020 (Thousand HKD) | H1 2019 (Thousand HKD) | Change (Thousand HKD) | | :--- | :--- | :--- | :--- | | Profit (Loss) Attributable to Company Owners | (142,000) | 91,000 | (233,000) | - The overall loss was primarily attributable to hotel operating losses, revaluation losses, and depreciation[9] Interim Dividend The Board does not recommend an interim dividend for H1 2020, compared to 1.95 HK cents per share in the prior year Interim Dividend Distribution | Period | H1 2020 | H1 2019 | | :--- | :--- | :--- | | Dividend per share | Not recommended | 1.95 HK cents | Business Overview The Group primarily engages in commercial property investment and leasing, alongside hotel investment and management - The Group's core businesses are commercial property investment, property leasing, hotel investment, and hotel management[8] Business Performance Hotel business revenue significantly declined by 71%, leading to a loss for Magnificent Hotel Investments, while commercial property rental income slightly increased Hotel Business Hotel business revenue decreased by 71% to HKD 85 million, mainly due to lower room rates and occupancy, resulting in a HKD 154 million loss for Magnificent Hotel Investments Hotel Business Revenue and Loss | Metric | H1 2020 (Thousand HKD) | H1 2019 (Thousand HKD) | Change | | :--- | :--- | :--- | :--- | | Operating Hotel Revenue | 85,000 | 289,000 | -71% | | Profit (Loss) Attributable to Owners of Magnificent Hotel Investments | (154,000) | 58,000 | Decrease of HKD 212 million | - The Group holds a 71.09% interest in Magnificent Hotel Investments, which owns 9 hotels with approximately 2,821 rooms, making it one of Hong Kong's largest hotel groups[11] Magnificent Hotel Investments Group Revenue Composition | Revenue Source | H1 2020 (Thousand HKD) | H1 2019 (Thousand HKD) | Change | Reason | | :--- | :--- | :--- | :--- | :--- | | Operating Hotel Revenue | 71,463 | 248,370 | -71% | Decrease in room rates and occupancy | | Investment Property Income | 18,782 | 16,739 | +12% | Leasing of Royal Scot Hotel and Apartments in London | | Dividend Income | 53 | 3,557 | -99% | Decrease in dividend from equity investments | | Other Income | 9,489 | 8,804 | +8% | - | | Total | 99,787 | 277,470 | -64% | - | - Rental income from Royal Scot Hotel in London increased by 12% year-on-year to GBP 1,769,000 (HKD 17,474,000)[15] Commercial Property Rental Income Commercial property rental income totaled HKD 85 million, an increase from HKD 81 million in the prior year, primarily from UK hotel properties and other commercial assets Commercial Property Rental Income | Metric | H1 2020 (Thousand HKD) | H1 2019 (Thousand HKD) | | :--- | :--- | :--- | | Commercial Property Rental Income | 85,000 | 81,000 | - Administrative expenses (excluding depreciation) increased by 4% to HKD 21 million, mainly due to professional fees incurred from the acquisition of Wood Street Hotel in London[17] Liquidity Total debt increased to HKD 1.27 billion, with gearing ratio rising to 16%, mainly to increase cash reserves; post-period, debt reduced to HKD 914 million Overall Debt and Gearing Ratio | Metric | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Overall Debt | HKD 1,270 million | HKD 907 million | | Gearing Ratio | 16% | 11% | - The increase in debt aimed to build appropriate cash reserves to address potential banking system disruptions due to social instability in Hong Kong[18] - Bank loans of HKD 356.2 million were repaid in July and August 2020, reducing overall debt to approximately HKD 914 million[18] - The Group's bank loans are primarily denominated in HKD and GBP, bearing interest at floating rates, exposing the Group to foreign exchange risk[18] - As of June 30, 2020, the Group's total number of employees decreased to 570 (December 31, 2019: 698)[18] Key Business Achievements Despite severe impacts on Hong Kong's tourism, hotel management maintained over 80% occupancy and cut operating costs by 44%; London Royal Scot Hotel rental income grew 12% - Hong Kong's tourism market was severely impacted by local social unrest and the novel coronavirus, with overseas and Chinese visitors dropping to less than 100 per day, and hotel and retail shop turnover declining by over 90%[20] - Hotel management successfully reduced operating costs by HKD 72 million (44%) while maintaining high occupancy rates of over 80%[20] - Rental income from Royal Scot Hotel in London increased by 12% year-on-year, and other commercial properties were almost fully leased, though retail property rental income significantly declined[20] - On January 29, 2020, the Group acquired the Wood Street Police Station Headquarters in Central London for GBP 40 million, with plans to renovate it into a luxury hotel with approximately 210 rooms[20] Future Outlook Management anticipates slow return of tourists, ongoing challenges for hotels and retail, potential increase in office vacancy rates, and sustained geopolitical harm to economic recovery - The Group owns nine revenue-generating hotels, with seven in Hong Kong, one in Shanghai, one in London, and the newly acquired London Wood Street Hotel renovation project[21] - Hong Kong's economy was negatively impacted by the US-China trade war, social instability, and the novel coronavirus, leading to a sharp decline in international and Chinese tourists, affecting the local economy, accommodation, retail, and hotel markets[21] - Management expects overseas and Chinese tourists will not return to Hong Kong in large numbers for the remainder of the fiscal year, and the hotel and retail sectors will continue to suffer from low occupancy and high operating costs[21] - Affected by the US-China trade war, street violence, and economic collapse, office tenants (mostly international trading companies) face difficult times, with office vacancy rates expected to increase rapidly[21] - In the long term, the ongoing adverse relationship between the US and China will impact geopolitics, continuously harming the recovery of all tourism and the economy[21] Equity and Corporate Governance This section covers public shareholding, securities transactions, directors' and major shareholders' interests, independent review, and corporate governance practices Public Float The company maintained sufficient public float as required by HKEX Listing Rules throughout the period and at period-end - The company maintained sufficient public float as required by the HKEX Listing Rules throughout the period and as of the report date[23] Purchase, Sale or Redemption of Listed Securities Neither the company nor its subsidiaries purchased, sold, or redeemed any of its listed securities during H1 2020 - Neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities during the period[24] Directors' Interests in Listed Securities Chairman Mr. Cheng Kai Man held 369.49 million shares (63.73%), primarily through controlled entities, and also held controlling interests in associated corporations Directors' Interests in the Company's Shares | Director's Name | Capacity | Nature of Interest | Number of Shares/Relevant Shares Held | Approximate % of Shareholding | | :--- | :--- | :--- | :--- | :--- | | Cheng Kai Man | Beneficial owner and interest in controlled corporations | Personal and corporate | 369,489,999 | 63.73% | - Mr. Cheng Kai Man holds shares in the company through Omnico Company Inc., Mercury Fast Limited, and Trillion Resources Limited, and beneficially owns 1,710,000 shares[25] Directors' Interests in Associated Corporations | Director's Name | Name of Associated Corporation | Capacity | Nature of Interest | Number of Shares/Relevant Shares Held | Approximate % of Shareholding | | :--- | :--- | :--- | :--- | :--- | :--- | | Cheng Kai Man | Magnificent Hotel Investments Limited | Interest in controlled corporations | Corporate | 6,360,585,437 | 71.09% | | Cheng Kai Man | Shun Ho Holdings Limited | Beneficial owner and interest in controlled corporations | Personal and corporate | 217,452,825 | 71.44% | | Cheng Kai Man | Trillion Resources Limited | Beneficial owner | Personal | 2 | 100% | Major Shareholders Major shareholders (excluding directors) included Omnico Company Inc. (60.38%), Shun Ho Holdings and Trillion Resources (both 63.44%), and Saray Capital Limited and associates (10.93%) Major Shareholders' Shareholding | Shareholder Name | Capacity | Number of Shares/Relevant Shares Held | Approximate % of Shareholding | | :--- | :--- | :--- | :--- | | Mercury Fast Limited | Beneficial owner | 68,139,510 | 11.75% | | Magnificent Hotel Investments | Interest in controlled corporations | 68,139,510 | 11.75% | | Omnico Company Inc. | Beneficial owner and interest in controlled corporations | 350,043,999 | 60.38% | | Shun Ho Holdings | Interest in controlled corporations | 367,779,999 | 63.44% | | Trillion Resources | Interest in controlled corporations | 367,779,999 | 63.44% | | Li Pui Ling | Interest of spouse | 367,779,999 | 63.44% | | Credit Suisse Trust Limited | Interest in controlled corporations | 63,379,591 | 10.93% | | Hashim Majed Hashim A. | Interest in controlled corporations | 63,379,591 | 10.93% | | North Salomon Limited | Interest in controlled corporations | 63,379,591 | 10.93% | | Saray Capital Limited | Interest in controlled corporations | 63,379,591 | 10.93% | | Saray Value Fund SPC | Beneficial owner and interest of parties acting in concert | 63,379,591 | 10.93% | | Saray Value SPV Asia I | Beneficial owner and interest of parties acting in concert | 63,379,591 | 10.93% | | Shobokshi Hussam Ali H. | Interest in controlled corporations | 63,379,591 | 10.93% | Independent Review H1 2020 interim results were unaudited but reviewed by Deloitte Touche Tohmatsu and the Group's audit committee, finding no material non-compliance with HKAS 34 - Deloitte Touche Tohmatsu reviewed the condensed consolidated financial statements in accordance with Hong Kong Standard on Review Engagements 2410[36] - The interim results and interim report were reviewed by the Group's audit committee[36] Corporate Governance The company complied with most Corporate Governance Code provisions, with deviations regarding combined Chairman/CEO roles, non-executive directors' terms, and committee responsibilities Compliance with Corporate Governance Code Deviations from the Corporate Governance Code exist, but the Board believes the combined Chairman/CEO role benefits strategy, and director rotation ensures governance - Deviation from Code Provision A.2.1: The roles of Chairman and Chief Executive Officer are combined and held by Mr. Cheng Kai Man, which the Board believes provides strong and consistent leadership, facilitating effective strategic planning and implementation[37] - Deviation from Code Provision A.4.1: All directors, except for three non-executive directors, do not have a specific term of appointment, but according to the company's articles of association, each director must retire by rotation at least once every three years[38] - Deviation from Code Provision A.5.2: The terms of reference for the Nomination Committee do not include the responsibility for selecting and nominating directors, which is handled by the Board due to the Nomination Committee members' insufficient knowledge of industry practices[40] - Deviation from Code Provision B.1.2: The terms of reference for the Remuneration Committee do not include the responsibility for approving management's remuneration proposals, compensation for executive directors and senior management, or compensation for dismissal due to director misconduct, which is handled by the Board[40] Compliance with Model Code The company adopted the Model Code for Securities Transactions by Directors and confirmed all directors complied with it during the period - The company adopted the Model Code set out in Appendix 10 of the Listing Rules and confirmed that all directors complied with it for the six months ended June 30, 2020[41] Review Report on Condensed Consolidated Financial Statements Deloitte Touche Tohmatsu reviewed the condensed consolidated financial statements of Shun Ho Property Investments Limited and its subsidiaries in accordance with Hong Kong Standard on Review Engagements 2410, finding no material matters indicating non-compliance with HKAS 34 - Deloitte Touche Tohmatsu reviewed the condensed consolidated financial statements in accordance with Hong Kong Standard on Review Engagements 2410[43][45] - The review concluded that nothing has come to the reviewer's attention that causes them to believe the condensed consolidated financial statements are not prepared, in all material respects, in accordance with Hong Kong Accounting Standard 34[46] Condensed Consolidated Financial Statements This section presents the condensed consolidated financial statements, including the income statement, statement of comprehensive income, statement of financial position, statement of changes in equity, and cash flow statement Condensed Consolidated Statement of Profit or Loss H1 2020 loss was HKD 189 million (prior year profit HKD 108 million), with revenue decreasing from HKD 370 million to HKD 171 million, mainly due to investment property impairment and lower hotel revenue Key Data from Condensed Consolidated Statement of Profit or Loss | Metric | H1 2020 (Thousand HKD) | H1 2019 (Thousand HKD) | | :--- | :--- | :--- | | Revenue | 170,677 | 370,197 | | Gross profit | 23,747 | 149,343 | | Fair value (impairment) gain on investment properties | (184,229) | 10,000 | | Administrative expenses | (25,328) | (24,382) | | Finance costs | (10,077) | (11,171) | | Profit (Loss) before tax | (185,759) | 132,578 | | Profit (Loss) for the period | (189,160) | 107,863 | | Profit (Loss) attributable to owners of the Company | (142,331) | 91,466 | | Basic (loss) earnings per share (HK cents) | (27.82) | 17.88 | Condensed Consolidated Statement of Comprehensive Income H1 2020 total comprehensive expense was HKD 306 million (prior year income HKD 106 million), mainly due to fair value losses on equity investments and overseas operations exchange differences Key Data from Condensed Consolidated Statement of Comprehensive Income | Metric | H1 2020 (Thousand HKD) | H1 2019 (Thousand HKD) | | :--- | :--- | :--- | | Profit (Loss) for the period | (189,160) | 107,863 | | Fair value loss on equity investments | (41,246) | (455) | | Exchange differences on translation of overseas operations | (76,024) | (1,413) | | Total comprehensive (expense) income for the period | (306,430) | 105,995 | | Total comprehensive (expense) income attributable to owners of the Company | (225,698) | 90,139 | Condensed Consolidated Statement of Financial Position Total assets slightly decreased; investment properties increased, equity investments decreased; bank balances and cash increased, but bank loans also rose, resulting in negative net current assets Key Data from Condensed Consolidated Statement of Financial Position | Metric | June 30, 2020 (Thousand HKD) | December 31, 2019 (Thousand HKD) | | :--- | :--- | :--- | | Non-current assets | | | | Property, plant and equipment | 3,687,770 | 3,772,036 | | Investment properties | 5,154,490 | 4,937,300 | | Equity investments | 71,983 | 113,229 | | Current assets | | | | Bank balances and cash | 499,136 | 152,176 | | Current liabilities | | | | Bank loans | 585,950 | 203,153 | | Net current assets | (159,470) | (136,154) | | Total equity | 7,937,107 | 8,243,537 | | Non-current liabilities - Bank loans | 650,247 | 697,682 | Condensed Consolidated Statement of Changes in Equity Equity attributable to owners decreased from HKD 7.105 billion to HKD 6.880 billion, primarily due to the total comprehensive expense for the period - Equity attributable to owners of the Company decreased from HKD 7,105,476 thousand as of January 1, 2020, to HKD 6,879,778 thousand as of June 30, 2020[65] - The change in equity was primarily affected by the total comprehensive expense for the period of HKD 225,698 thousand, including fair value losses on equity investments and exchange differences on overseas operations[65] Condensed Consolidated Statement of Cash Flows Net cash from operating activities significantly decreased, investing activities were an outflow, but financing activities increased due to new bank loans, leading to higher cash and cash equivalents Key Data from Condensed Consolidated Statement of Cash Flows | Metric | H1 2020 (Thousand HKD) | H1 2019 (Thousand HKD) | | :--- | :--- | :--- | | Net cash from operating activities | 12,195 | 196,144 | | Net cash (used in) from investing activities | (28,890) | 11,915 | | Net cash from (used in) financing activities | 364,485 | (213,914) | | Net increase (decrease) in cash and cash equivalents | 347,790 | (5,855) | | Cash and cash equivalents at end of period | 499,136 | 576,663 | - Net cash from financing activities significantly increased, mainly due to new bank loans of HKD 384.43 million, offsetting bank loan repayments and dividends paid[70] Notes to the Condensed Consolidated Financial Statements This section details the basis of preparation, significant events, accounting policies, revenue, segment information, financial costs, income tax, profit/loss adjustments, dividends, EPS, property, investment properties, receivables, payables, bank loans, share capital, related party transactions, capital commitments, and fair value measurement of financial instruments Basis of Preparation The condensed consolidated financial statements are presented in HKD, prepared under HKAS 34 and Listing Rules Appendix 16; despite negative net current assets, the Board believes the Group has going concern ability - The company is a public limited company incorporated in Hong Kong, with its shares listed on the HKEX[72] - The company's ultimate holding company is Trillion Resources Limited, an international business company incorporated in the British Virgin Islands[72] - These condensed consolidated financial statements are presented in HKD and prepared in accordance with Hong Kong Accounting Standard 34 and the applicable disclosure requirements of Appendix 16 of the Listing Rules[73] - Despite current liabilities exceeding current assets by HKD 159.47 million as of June 30, 2020, the Board believes the Group has sufficient financial resources (including internal resources and unutilized bank facilities) to support its going concern[75] Significant Events During the Interim Period COVID-19 negatively impacted the Group's business, leading to reduced revenue and fair value changes; HKD 8.597 million in government grants were recognized - The outbreak of COVID-19 and subsequent quarantine measures and travel restrictions negatively impacted the global economy and the Group's business, leading to reduced revenue and changes in investment property fair values[78] - During the interim period, the Group recognized government grants of HKD 8.597 million related to COVID-19 subsidies, of which HKD 4.847 million was related to the Hong Kong SAR Government's Employment Support Scheme and offset against related salary expenses[78] Principal Accounting Policies The financial statements are prepared on a historical cost basis, except for fair value measured items; revisions to HKFRS were applied but had no significant impact - These condensed consolidated financial statements are prepared on a historical cost basis, except for investment properties and certain financial instruments measured at fair value (where applicable)[79] - Revisions to Hong Kong Financial Reporting Standards, including HKAS 1 and HKAS 8 (Amendments) 'Definition of Material', were first applied in this interim period but had no significant impact on the condensed consolidated financial statements[80][81][82] Revenue H1 2020 total revenue was HKD 170.68 million, a significant decrease from HKD 370.20 million, driven by a 70.4% drop in hotel revenue and a 67.5% decline in dividend income Revenue Composition | Revenue Source | H1 2020 (Thousand HKD) | H1 2019 (Thousand HKD) | | :--- | :--- | :--- | | Operating hotel revenue | 85,355 | 289,009 | | Property rental income | 85,269 | 81,025 | | Dividend income | 53 | 163 | | Total revenue | 170,677 | 370,197 | Analysis of Revenue by Hotel Service Segment | Type of goods or services | H1 2020 (Thousand HKD) | H1 2019 (Thousand HKD) | | :--- | :--- | :--- | | Room revenue and other ancillary services | 83,991 | 278,795 | | Food and beverages | 1,364 | 10,214 | | Total | 85,355 | 289,009 | | Geographical distribution of markets | | | | Hong Kong | 83,689 | 280,859 | | People's Republic of China | 1,666 | 8,150 | | Total | 85,355 | 289,009 | Segment Information Operating segments include hotel services (loss HKD 60.66 million), property investment (loss HKD 99.88 million), and securities investment (profit HKD 0.053 million); total segment assets were HKD 8.792 billion - The Group's operating and reportable segments include hotel services (9 hotels), property investment (3 property categories), and securities investment[87] Revenue and Results by Operating and Reportable Segment | Segment | H1 2020 Segment Revenue (Thousand HKD) | H1 2019 Segment Revenue (Thousand HKD) | H1 2020 Segment Profit (Loss) (Thousand HKD) | H1 2019 Segment Profit (Thousand HKD) | | :--- | :--- | :--- | :--- | :--- | | Hotel services | 85,355 | 289,009 | (60,657) | 68,472 | | Property investment | 85,269 | 81,025 | (99,878) | 90,708 | | Securities investment | 53 | 163 | 53 | 163 | | Total | 170,677 | 370,197 | (160,482) | 159,343 | Assets and Liabilities by Operating and Reportable Segment | Segment | June 30, 2020 Segment Assets (Thousand HKD) | December 31, 2019 Segment Assets (Thousand HKD) | | :--- | :--- | :--- | | Hotel services | 3,558,758 | 3,607,091 | | Property investment | 5,161,146 | 5,371,581 | | Securities investment | 71,983 | 113,229 | | Total segment assets | 8,791,887 | 9,091,901 | | Segment liabilities | | | | Hotel services | 34,162 | 31,063 | | Property investment | 53,920 | 54,205 | | Securities investment | 1 | 2 | | Total segment liabilities | 88,083 | 85,270 | Finance Costs H1 2020 finance costs were HKD 10.08 million, a decrease from HKD 11.17 million, primarily due to reduced bank loan interest Composition of Finance Costs | Item | H1 2020 (Thousand HKD) | H1 2019 (Thousand HKD) | | :--- | :--- | :--- | | Interest on bank loans | 9,909 | 11,171 | | Amount due to an intermediate holding company | 168 | – | | Total | 10,077 | 11,171 | Income Tax Expense H1 2020 income tax expense was HKD 3.40 million, a significant decrease from HKD 24.72 million, mainly due to deferred tax impact Composition of Income Tax Expense | Item | H1 2020 (Thousand HKD) | H1 2019 (Thousand HKD) | | :--- | :--- | :--- | | Current tax (Hong Kong and United Kingdom) | 11,994 | 23,305 | | Under (over) provision in prior years | (311) | (102) | | Deferred tax | (8,413) | 1,512 | | Total | 3,401 | 24,715 | - Hong Kong profits tax rate is 16.5%, while China and UK profits tax rates are recognized based on management's estimated weighted average annual income tax rate[104] Profit (Loss) for the Period The loss for the period was HKD 189.16 million, after deducting depreciation and including bank deposit interest and loss on disposal of property, plant and equipment Profit (Loss) for the Period Adjustment Items | Item | H1 2020 (Thousand HKD) | H1 2019 (Thousand HKD) | | :--- | :--- | :--- | | Depreciation of right-of-use assets | 391 | 407 | | Depreciation of property, plant and equipment | 55,392 | 55,522 | | Interest income from bank deposits | (416) | (4,955) | | Loss (gain) on disposal of property, plant and equipment | 7 | (3,318) | Dividends The Board resolved not to declare an interim dividend for H1 2020, compared to 1.95 HK cents per share (HKD 9.976 million) in the prior year - The Board resolved not to declare or recommend an interim dividend for the six months ended June 30, 2020[108] Dividend Distribution | Period | H1 2020 | H1 2019 | | :--- | :--- | :--- | | Interim dividend (per share) | Not recommended | 1.95 HK cents | | Interim dividend (amount) | – | 9,976 Thousand HKD | Earnings (Loss) Per Share H1 2020 basic loss per share was 27.82 HK cents (prior year basic earnings 17.88 HK cents), based on a HKD 142.33 million loss and 511.613 million issued shares Earnings (Loss) Per Share | Metric | H1 2020 | H1 2019 | | :--- | :--- | :--- | | Basic (loss) earnings per share | (27.82) HK cents | 17.88 HK cents | | Profit (Loss) attributable to owners of the Company | (142,331) Thousand HKD | 91,466 Thousand HKD | | Shares issued during the period | 511,613 Thousand shares | 511,613 Thousand shares | -