Financial Performance - The company recorded a loss attributable to shareholders of approximately HKD 75,483,000 for the six months ended September 30, 2021, a decrease of about 24.1% compared to a loss of HKD 99,457,000 in the same period of 2020 [2]. - Total revenue increased by approximately 6.8% to HKD 60,053,000, up from HKD 56,234,000 in the previous year [2]. - The company reported a pre-tax loss of HKD 69,152 thousand, an improvement from a pre-tax loss of HKD 93,445 thousand in the previous year [45]. - Total comprehensive loss attributable to shareholders for the period was HKD 75,483 thousand, down from HKD 99,457 thousand in the same period last year [45]. - Basic loss per share was HKD 0.19, compared to HKD 0.25 for the same period in 2020 [45]. - The group incurred a pre-tax loss of HKD 69,152,000, which includes central administrative costs of HKD 4,150,000 [63]. Revenue and Income Segments - The property investment segment's total rental income increased by about 2.2% to HKD 46,863,000, while segment profit (excluding fair value losses) decreased by approximately 10.4% to HKD 26,195,000 [7]. - The financial investment segment's revenue increased by approximately 53% to HKD 4,537,000, despite a significant decrease in segment profit by about 86% to HKD 7,186,000 [8]. - Warehouse operation income was HKD 8,653 thousand, while property investment income was HKD 46,863 thousand, compared to HKD 7,421 thousand and HKD 45,847 thousand respectively in 2020 [45]. - The group reported a segment profit of HKD 1,057,000 from warehouse operations, contrasting with a loss of HKD 140,754,000 in property investment [63]. Assets and Liabilities - The company's net asset value decreased by approximately 6.2% to HKD 4,053,391,000 as of September 30, 2021, compared to HKD 4,323,274,000 on March 31, 2021 [18]. - Non-current assets decreased from HKD 4,414,041 thousand as of March 31, 2021, to HKD 4,144,988 thousand as of September 30, 2021, representing a decline of approximately 6.1% [47]. - Current assets decreased from HKD 1,112,527 thousand to HKD 953,227 thousand, a reduction of about 14.3% [47]. - The company’s total liabilities increased slightly from HKD 90,767 thousand to HKD 91,597 thousand, indicating a marginal rise of about 0.9% [47]. - Deferred tax liabilities amounted to HKD 12,414,000, contributing to the total liabilities of HKD 152,671,000 [65]. Cash Flow and Dividends - Cash generated from operating activities was HKD 138,153 thousand, a significant recovery from a cash outflow of HKD 204,222 thousand in the previous year [51]. - Cash and bank balances reached HKD 266,455,000, an increase of about 7.4% from HKD 247,974,000 on March 31, 2021 [18]. - The company paid dividends totaling HKD 194,400 thousand during the period, compared to HKD 12,150 thousand in the previous year, indicating a substantial increase in dividend payouts [49]. - The group declared an interim dividend of HKD 0.04 per share, totaling HKD 16,200,000, compared to HKD 36,450,000 in the previous period [72]. Employee and Operational Costs - Employee costs increased by approximately 10.4% to HKD 8,173,000 due to the addition of new employees and increased performance bonuses [14]. - The total remuneration for directors and key management personnel during the period was HKD 712,000, an increase from HKD 549,000 for the six months ended September 30, 2020 [94]. - Employee costs, including director remuneration, increased by approximately 10.4% to HKD 8,173,000 for the six months ended September 30, 2021, compared to HKD 7,401,000 for the same period in 2020 [19]. - The number of employees remained stable at 37 as of September 30, 2021 [19]. Corporate Governance - The company has complied with all corporate governance codes except for certain provisions regarding the separation of roles between the chairman and CEO, which have been vacant since April 5, 2015 [38]. - The board will continue to review and improve corporate governance practices to ensure proper regulation of business activities and decision-making processes [38]. - The company is actively seeking suitable candidates to fill the vacant chairman and CEO positions to enhance governance structure [38]. - The company has adopted the standard code for securities trading by directors, confirming compliance during the six months ended September 30, 2021 [39]. Fair Value and Impairment - The company recorded a fair value loss on investment properties of HKD 99,440,000 during the period, compared to a loss of HKD 170,000,000 in the same period of 2020 [14]. - Investment properties showed a fair value impairment of HKD 99,440 thousand, down from HKD 170,000 thousand in the previous year, suggesting a reduction in impairment losses [51]. - The fair value of the investment properties as of September 30, 2021, is HKD 3,001,960,000, down from HKD 3,101,400,000 as of March 31, 2021, reflecting a decrease of approximately 3.2% [76]. - A loss of HKD 99,440,000 was recognized in the income statement due to fair value changes for the six months ended September 30, 2021, compared to a loss of HKD 170,000,000 for the same period in 2020 [77]. Other Key Information - The company continues to hold 9,000 ounces of non-physical gold after selling 4,400 ounces and 4,600 ounces in March and August 2021, respectively [13]. - The company has no bank loans and no significant contingent liabilities as of September 30, 2021 [22][23]. - Major shareholder Jian Nan Financial Limited holds a direct interest of 147,610,335 shares, representing approximately 36.45% of the company's issued shares [28]. - The company did not purchase, sell, or redeem any of its listed shares during the review period [32]. - The company has established various committees including the Audit Committee, Remuneration and Nomination Committee, and Investment Committee [98].
安全货仓(00237) - 2022 - 中期财报