WING ON CO(00289) - 2020 - 中期财报

Financial Performance - The group's revenue decreased by 13.2% to HKD 611.3 million for the six months ended June 30, 2020, compared to HKD 704.4 million in 2019[8]. - The group recorded a loss attributable to shareholders of HKD 337.8 million, a significant decline from a profit of HKD 575.8 million in the same period of 2019[8]. - Basic earnings per share decreased by 70.8% to HKD 0.31, down from HKD 1.06 in 2019[8]. - The group experienced a significant operating profit decline to HKD 142.3 million from HKD 360.6 million in the same period last year[22]. - The net loss attributable to the company for the period was HKD 337.5 million, compared to a profit of HKD 576.1 million in 2019[22]. - The company reported a net loss of HKD 337,811 for the six months ended June 30, 2020, compared to a profit in the same period last year[26]. - The total comprehensive income for the period was HKD 161,115,000, a decrease from HKD 190,708,000 in the same period of 2019[30]. - The company reported a pre-tax loss of HKD 337,811,000 for the six months ended June 30, 2020, compared to a profit of HKD 575,767,000 for the same period in 2019[47]. Dividends and Shareholder Returns - The group declared an interim dividend of HKD 0.11 per share, totaling HKD 32.12 million, compared to HKD 0.38 per share and HKD 111.52 million in 2019[8]. - The interim dividend declared for the six months ended June 30, 2020, was HKD 32,120,000, a significant decrease from HKD 111,516,000 for the same period in 2019[57]. - The company declared and paid dividends amounting to HKD 111,474,000 during the reporting period[31]. Assets and Liabilities - The group's equity as of June 30, 2020, was HKD 18,936.7 million, a decrease of 3.1% from HKD 19,558.5 million as of December 31, 2019[9]. - Total borrowings decreased by approximately HKD 19.4 million to HKD 83.9 million as of June 30, 2020, due to repayments and exchange rate differences[10]. - As of June 30, 2020, total assets less current liabilities amounted to HKD 19,800,723, a decrease of 3.06% from HKD 20,425,841 as of December 31, 2019[24]. - Non-current assets decreased to HKD 15,580,525 from HKD 16,090,297, reflecting a decline of 3.16%[24]. - Current assets totaled HKD 16,403,390, down from HKD 16,942,963, indicating a decrease of 3.18%[24]. - Total liabilities decreased to HKD 518,080 from HKD 593,377, reflecting a decline of 12.67%[24]. Operational Highlights - The department store business revenue fell by 20% to HKD 367.8 million, down from HKD 459.6 million in 2019, primarily due to the impact of COVID-19[13]. - The group received a government subsidy of HKD 5.3 million under the employment support scheme during the reporting period[13]. - The overall occupancy rate for the group's commercial properties in Hong Kong remained approximately 98%, down from 99% in 2019[14]. - The group reported a loss attributable to a joint venture in the automotive dealership business in China of HKD 6.5 million, compared to a loss of HKD 5.8 million in 2019[15]. Cash Flow and Financing - The company reported a net cash outflow from operating activities of HKD 204,130,000 for the six months ended June 30, 2020, compared to a cash inflow of HKD 183,313,000 in the same period of 2019[31]. - The net cash used in financing activities was HKD 232,478,000 for the six months ended June 30, 2020, compared to HKD 160,582,000 in the same period of 2019[31]. - The company's cash and cash equivalents stood at HKD 2,775,333, a decrease from HKD 2,993,692 as of December 31, 2019[24]. Employee and Management Costs - The group had a total of 636 employees as of June 30, 2020, down from 659 employees in the previous year[17]. - Employee costs (excluding directors' remuneration) decreased to HKD 96,024,000 from HKD 103,359,000 year-on-year[44]. - The total remuneration for key management personnel for the six months ended June 30, 2020, was HKD 20,663,000, an increase of 30% compared to HKD 15,923,000 for the same period in 2019[72]. Market and Economic Outlook - The group anticipates that local consumption will remain under pressure for the remainder of the year due to the ongoing COVID-19 pandemic[18]. - The group maintains a strong financial position to withstand the economic challenges posed by COVID-19[18].