Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 12,084,000, an increase of 9.3% compared to HKD 11,054,000 for the same period in 2020[8]. - The company reported a profit attributable to owners of HKD 8,652,000, compared to a loss of HKD 24,066,000 in the previous year, marking a significant turnaround[8]. - Basic and diluted earnings per share for the period were HKD 21.6, compared to a loss per share of HKD 60.2 in the prior year[8]. - The total comprehensive income for the six months ended September 30, 2021, was HKD 4,665,000, which includes a profit of HKD 8,652,000[17]. - The company reported a pre-tax profit of HKD 9,249 million for the six months ended September 30, 2021, compared to a loss of HKD 23,408 million in the same period of 2020[38]. Investment Properties - The fair value gain on investment properties was HKD 19,000,000, a recovery from a loss of HKD 45,200,000 in the previous period[8]. - The fair value of investment properties at the end of the period was HKD 937,500 million, an increase from HKD 918,500 million at the beginning of the period[42]. - The group’s investment properties had a fair value of HKD 937,500,000 as of September 30, 2021, up from HKD 918,500,000 as of March 31, 2021[86]. - The group anticipates rental income from properties to face downward pressure in the short to medium term, although the extent is expected to be moderate[110]. Cash Flow and Liquidity - The net cash inflow from operating activities for the six months ended September 30, 2021, was HKD 5,189,000, compared to HKD 136,175,000 in the previous year[19]. - The total cash and cash equivalents at the end of the period were HKD 125,710,000, down from HKD 158,989,000 a year earlier[19]. - The group held cash reserves of approximately HKD 125,710 million as of September 30, 2021, an increase from HKD 108,290 million as of March 31, 2021[104]. - The group will continue to adopt prudent financial policies to ensure sufficient cash flow and credit facilities for future operations and capital expenditures[104]. Dividends - The company paid dividends of HKD 4,800,000 during the period, a decrease from HKD 10,800,000 in the previous year[19]. - The proposed interim dividend for the six months ending September 30, 2021, is HKD 800,000, unchanged from the previous year[60]. - The company declared a final dividend of HKD 0.12 per ordinary share for the six months ended September 30, 2021, totaling HKD 4,800,000, consistent with the previous year[61]. - The company did not declare a special final dividend for the six months ended September 30, 2021, compared to HKD 0.15 per share totaling HKD 6,000,000 in the previous year[61]. Expenses and Costs - Administrative and operating expenses were HKD 3,134,000, a slight increase from HKD 3,051,000 in the previous year[8]. - Financing costs decreased to HKD 152,000 from HKD 259,000, indicating improved cost management[8]. - The company incurred finance costs of HKD 152 million, down from HKD 259 million in the previous year, a reduction of 41.2%[38]. Shareholder Information - The major shareholder, Mr. Wu Da-xian, holds approximately 36.7% of the issued share capital, totaling 14,686,423 shares[71]. - The company has no share buybacks or redemptions during the reporting period[77]. - The group has not violated any bank financing covenants as of September 30, 2021[56]. Market and Future Outlook - The company continues to focus on enhancing its investment property portfolio and exploring new market opportunities for expansion[8]. - The group plans to continue reviewing its securities investment portfolio and make appropriate adjustments to enhance dividend yields amid market volatility[110]. - The group expects to seek higher returns from property investments while balancing the risks and returns of each investment[110].
永发置业(00287) - 2022 - 中期财报