Financial Performance - For the six months ended September 30, 2020, the unaudited revenue was approximately HKD 288,398,000, a decrease of 17.2% from HKD 348,397,000 in the same period last year[5] - The unaudited EBITDA for the same period was approximately HKD 230,226,000, down from HKD 285,220,000, representing a decline of 19.3%[5] - The unaudited net loss attributable to the owners of the company was approximately HKD 912,094,000, compared to a loss of HKD 546,211,000 in the previous year, indicating a significant increase in losses[5] - The company reported a gross loss of HKD 99,351,000 for the period, compared to a gross loss of HKD 24,255,000 in the previous year[8] - Other comprehensive loss for the period was HKD 86,505,000, compared to HKD 61,792,000 in the same period last year[12] - The basic and diluted loss per share for the period was HKD 0.12, compared to HKD 0.07 in the previous year[8] - The total comprehensive loss for the period was HKD (8,632,181), compared to HKD (7,514,701) in the previous period, indicating a deterioration in financial performance[16] - For the six months ended September 30, 2020, the reported loss was HKD 899,499,000, compared to a loss of HKD 478,188,000 for the same period in 2019, indicating a significant increase in losses[183] - The company reported a total of HKD 6,259,000 in other income for the six months ended September 30, 2020, compared to HKD 13,064,000 in 2019, representing a decline of about 52%[185] - Financial costs for the six months ended September 30, 2020, amounted to HKD 898,324,000, an increase from HKD 494,634,000 in the same period of 2019, showing a rise of approximately 81.7%[186] - The company reported a net loss of approximately HKD 1,030,975,000 for the six months ended September 30, 2020[105] Assets and Liabilities - The total non-current assets as of September 30, 2020, were valued at HKD 12,799,152,000, an increase from HKD 12,668,064,000 as of March 31, 2020[14] - Trade receivables increased significantly to HKD 486,647,000 from HKD 250,208,000, reflecting a rise of 94.5%[14] - The total assets amounted to HKD 13,403,300,000, compared to HKD 12,981,926,000 as of March 31, 2020, showing an increase of 3.3%[14] - As of September 30, 2020, total liabilities amounted to HKD 22,035,481, an increase from HKD 20,496,627 as of March 31, 2020, representing an increase of approximately 7.5%[16] - The total current liabilities reached HKD 21,299,260, up from HKD 19,776,430, indicating a growth of about 7.7%[16] - Non-current liabilities totaled HKD 736,221, slightly up from HKD 720,197, showing a marginal increase of 2.2%[16] - The total liabilities reported as of September 30, 2020, were HKD 15,620,912,000, compared to HKD 14,211,053,000 as of March 31, 2020, indicating an increase of about 9.9%[180] - The company's borrowings increased to HKD 11,416,231 from HKD 10,970,946, marking an increase of approximately 4.1%[16] - Current liabilities amounted to approximately HKD 20,695,112,000, while total liabilities were approximately HKD 8,632,181,000 as of September 30, 2020[105] Cash Flow and Financing - Cash generated from operating activities was HKD 18,895, a decrease from HKD 77,340 in the previous period, highlighting a decline in operational cash flow[102] - The company reported cash inflows from the sale of investment properties amounting to HKD 25,920 during the period[102] - Cash and cash equivalents increased by HKD 16,817,000 during the reporting period, compared to an increase of HKD 20,878,000 in the previous period[103] - The impact of exchange rate changes resulted in an increase of HKD 6,142,000 in cash and cash equivalents[103] - The company reported operating cash flow before changes in working capital of HKD 225,301,000, compared to HKD 272,266,000 in the previous period[103] - The company is actively negotiating debt restructuring and/or deferral of debt repayments with multiple banks and financial institutions in China[105] - The company is seeking new financing channels to improve its liquidity and operational cash flow[107] - The company is uncertain about its ability to continue as a going concern, depending on its ability to generate sufficient financing and operational cash flow[107] Operational Metrics - Revenue from toll road fees was HKD 285,367,000, a decrease of 12.2% from HKD 324,936,000 in the same period last year[112] - The company did not report any sales or transfers between segments during the period, maintaining a clear separation of operational categories[114] - The company’s interest income for the six months ended September 30, 2020, was HKD 70,000, slightly up from HKD 63,000 in 2019, showing a modest increase[185] - The company’s rental income for the six months ended September 30, 2020, was HKD 704,000, significantly higher than HKD 84,000 in 2019, indicating a substantial growth in rental revenue[185] Asset Management - The carrying amount of intangible assets as of September 30, 2020, was HKD 12,078,625,000, an increase from HKD 11,936,494,000 as of March 31, 2020, reflecting a growth of 1.2%[200] - The impairment loss on property, plant, and equipment was approximately HKD 977,000 for the six months ended September 30, 2020, compared to zero in the same period of 2019[199] - The amortization of intangible assets included in cost of sales was HKD 322,080,000 for the six months ended September 30, 2020, up from HKD 293,881,000 in the same period of 2019, reflecting a growth of 9.6%[188] - The company reported a total of HKD 558,000,000 in additions to property, plant, and equipment for the six months ended September 30, 2020, compared to HKD 150,000,000 in the same period of 2019, representing a significant increase of 272%[199] - Depreciation of property, plant, and equipment for the six months ended September 30, 2020, was HKD 34,367,000, down from HKD 41,586,000 in the same period of 2019, indicating a decrease of 17.5%[188] Employee and Tax Expenses - The company incurred employee costs of HKD 25,296,000 for the six months ended September 30, 2020, slightly down from HKD 27,771,000 in the same period of 2019, a decrease of 8.9%[188] - The total tax expense for the six months ended September 30, 2019, was HKD 23,000, while no tax expense was recorded for the same period in 2020 due to no taxable profits[190] Dividends - The company did not declare any dividends for the six months ended September 30, 2020, consistent with the previous year[5] - The company did not declare any dividends for the six months ended September 30, 2020, consistent with the previous year where no dividends were declared[195]
中国资源交通(00269) - 2021 - 中期财报