Financial Performance - For the first half of 2021, the Group reported segment revenue from property development and investment of HK$371,774,000, an increase from HK$290,816,000 in 2020, representing a growth of approximately 28%[15]. - The Group recorded a consolidated profit after taxation attributable to shareholders of HK$131,832,000 for the first half of 2021, a significant increase of approximately 22.06 times compared to HK$5,718,000 in 2020[16]. - Basic earnings per share for the first half of 2021 was 6.69 HK cents, compared to 0.29 HK cent in 2020[16]. - Revenue for the six months ended June 30, 2021, was HK$398,292,000, an increase of 29% compared to HK$308,760,000 for the same period in 2020[118]. - Gross profit for the same period was HK$344,194,000, compared to HK$155,903,000 in 2020, reflecting a significant improvement[118]. - Profit for the period attributable to owners of the company was HK$131,832,000, a substantial increase from HK$5,718,000 in the previous year[118]. - Total comprehensive income for the period was HK$340,713,000, compared to a loss of HK$258,716,000 in the same period last year[120]. Segment Contributions - The property development and trading segment contributed a profit of HK$164,680,000, up from HK$24,679,000 in 2020, indicating a substantial improvement in profitability[17]. - The property investment segment reported a profit of HK$75,260,000, an increase from HK$21,731,000 in 2020, driven by rental and management income from investment properties in Shanghai[17]. - The property development and investment in Shanghai and Macau contributed a total profit of HK$239,940,000, up from HK$46,410,000 in 2020[23]. - Segment profit for property investment was HK$75,260,000, while property development and trading generated a profit of HK$164,680,000, contributing to a total segment profit of HK$255,092,000[142]. Cash and Assets - As of June 30, 2021, the Group's cash and cash equivalents amounted to HK$3,864,448,000, representing an increase of approximately 18.35% compared to HK$3,265,173,000 in 2020[60]. - The Group generated a net cash inflow of HK$1,214,499,000 from investing activities during the reporting period[60]. - Non-current assets as of June 30, 2021, totaled HK$9,419,718,000, slightly down from HK$9,461,448,000 at the end of 2020[122]. - Current assets increased to HK$10,329,777,000 as of June 30, 2021, from HK$10,925,707,000 at the end of 2020[122]. - Total assets less current liabilities reached HK$14,987,417, up from HK$14,759,184, reflecting a growth of approximately 1.55%[124]. Liabilities and Equity - The Group's total liabilities as of June 30, 2021, were HK$6,303,254,000, down from HK$7,123,907,000 as of December 31, 2020[61]. - The Group's borrowings decreased to HK$317,023,000 as of June 30, 2021, from HK$1,019,758,000 at the end of 2020, representing approximately 2.42% of equity attributable to owners[62]. - Total equity increased to HK$13,444,181, up from HK$13,216,374 as of December 31, 2020, representing a growth of approximately 1.73%[124]. - Retained earnings stood at HK$9,176,232, showing a slight increase from HK$9,044,400, which is an increase of approximately 1.46%[125]. Shareholder Information - Madam Hsu Feng holds a total of 908,001,416 shares in the Company, representing 46.067% of the total issued shares[87]. - King China Holdings Limited held 252,919,265 shares, accounting for 12.832% of the total issued shares[101]. - The total number of shares held by the company and its subsidiaries was 434,023,124, representing 22.020% of the total issued shares[92]. - Major shareholders include E-Shares Investments Limited (9.188%), Jin Hua Group Limited (12.832%), and Chuan He Group Limited (12.547%)[105]. Future Outlook - The Group anticipates that Tomson Riviera and One Penha Hill will be the principal sources of profit in 2021[70]. - The Group remains optimistic about the underlying demand for properties catering to high-income middle class and high net-worth individuals in Mainland China in the long run[70]. - The Group is actively proceeding with the construction of the Jinqiao-Zhangjiang project in Pudong, Shanghai, which is expected to be a major profit contributor in the future[70]. Governance and Compliance - The company complied with all provisions of the Corporate Governance Code except for the dual role of the Chairman and Managing Director[109]. - The company has not established a nomination committee as stipulated in the Corporate Governance Code[109]. - All Directors confirmed compliance with the required standards for securities transactions throughout the period ended June 30, 2021[111].
汤臣集团(00258) - 2021 - 中期财报