Revenue and Profit - Revenue for the six months ended September 30, 2020, was HK$61,990,000, a decrease of 20.5% compared to HK$78,119,000 for the same period in 2019[13] - Profit for the period was HK$39,219,000, down 7.0% from HK$42,161,000 in the previous year[13] - Earnings per share decreased to HK$0.0146 from HK$0.0161, reflecting a decline of 9.3%[13] - The net profit before taxation for the period was HK$45,229,000, compared to HK$50,445,000 in the previous year, reflecting a decrease of 10.4%[62] - The profit before taxation for the same period was HK$39,229,000, down from HK$43,059,000 in 2019, reflecting a decrease of approximately 6.4%[83] - Profit for the period decreased to 39,219 from 42,161, reflecting a decline of approximately 4.5%[63] Comprehensive Income - Total comprehensive income attributable to owners of the Company was HK$40,624,000, compared to HK$39,877,000 in the prior period, indicating an increase of 1.9%[17] - Other comprehensive income for the period was HK$1,405,000, compared to a loss of HK$2,284,000 in the previous year[15] Cash and Bank Balances - The Group's cash and bank balances increased to HK$620,736,000 from HK$480,212,000, representing a growth of 29.2%[20] - Cash and cash equivalents at the end of the period stood at HK$504,605,000, up from HK$362,093,000 in 2019, representing an increase of approximately 39.2%[27] - As of September 30, 2020, cash and cash equivalents amounted to HK$504,605,000, an increase of 30.5% from HK$386,934,000 as of March 31, 2020[123] - The Group's cash in hand increased to HK$82,000 from HK$3,000, showing a significant rise[123] Assets and Liabilities - Non-current assets remained stable at HK$1,642,000,000, unchanged from March 31, 2020[20] - The Group's total assets as of September 30, 2020, were HK$1,774,861,000, compared to HK$1,807,154,000 as of March 31, 2020, reflecting a decrease of 1.8%[20] - As of September 30, 2020, net current assets increased to HK$872,031,000 from HK$825,937,000 as of March 31, 2020, reflecting a growth of approximately 5.5%[22] - Total assets less current liabilities rose to HK$2,646,892,000, compared to HK$2,633,091,000 in the previous period, indicating a slight increase of about 0.5%[22] - The Group's investment properties had a fair value of approximately HK$1,642,000,000 as of 30th September 2020, down from HK$1,686,000,000 at the beginning of the period[95] - The Group's investment properties had a carrying amount of approximately HK$1,434,000,000 as of both September 30, 2020, and March 31, 2020, remaining stable[132] Receivables and Impairments - Trade receivables decreased to HK$89,325,000 from HK$122,105,000, a decline of 26.8%[20] - The total impairment loss on trade receivables was HK$192,075,000 as of September 30, 2020, slightly down from HK$192,096,000 as of March 31, 2020, indicating a negligible change[111] - Trade receivables classified as neither past due nor impaired amounted to HK$647,783,000 as of September 30, 2020, compared to HK$709,701,000 as of March 31, 2020, a decrease of approximately 8.7%[114] - Receivables that were past due over one year increased to HK$146,220,000 as of September 30, 2020, from HK$116,728,000 as of March 31, 2020, representing an increase of about 25.3%[114] - The company assessed that no further impairment loss is necessary for receivables as there has not been a significant change in credit quality, indicating stability in the receivables portfolio[111] Dividends and Equity - The Group did not declare an interim dividend for the period, consistent with the previous year[13] - The total equity attributable to owners of the company increased to HK$2,648,075,000 as of September 30, 2020, compared to HK$2,634,264,000 at the end of March 2020, marking a growth of approximately 0.5%[30] - The company’s reserves grew to HK$2,621,251,000 from HK$2,580,617,000, indicating an increase of about 1.6%[22] - The company paid dividends of HK$26,823,000 in the previous period, down from HK$53,646,000 in 2019, reflecting a reduction of about 50%[28] Segment Performance - Commission and brokerage income from securities broking was HK$4,511,000, down 11.7% from HK$5,108,000 in 2019[48] - Financing segment revenue decreased to HK$40,265,000 from HK$44,257,000, representing a decline of 9.0% year-over-year[59] - Corporate finance revenue dropped significantly to HK$740,000 from HK$3,700,000, a decrease of 80%[59] - Property investment revenue fell to HK$14,432,000 from HK$22,691,000, a decline of 36.5%[59] - The segment revenue for broking was approximately HK$5.6 million, representing a decrease of HK$0.6 million or 10.2%[187] - The corporate finance segment revenue was approximately HK$0.7 million, with profit also at approximately HK$0.7 million during the half-year period[190] - The precious metal trading segment recorded a loss of approximately HK$277,000, similar to the loss in the preceding financial period[194] Operating Expenses - The administrative and operating expenses amounted to approximately HK$12.8 million, accounting for approximately 20.7% of the Group's revenue[196] - Administrative and operating expenses for the fiscal period reached approximately HKD 12.8 million, accounting for about 20.7% of the group's revenue[199] Financing Activities - The company reported a net cash generated from operating activities of HK$159,313,000 for the six months ended September 30, 2020, a significant recovery from a cash outflow of HK$184,842,000 in the same period of 2019[25] - The company reported a net cash used in financing activities of HK$41,628,000, a significant decrease from a net cash generated of HK$237,848,000 in the previous period[27] - Borrowings decreased slightly to HK$275,863,000 from HK$283,655,000, showing a reduction of about 2.7%[22] - The current portion of secured bank borrowings was HK$270,340,000, a decrease of 3.1% from HK$281,204,000 as of March 31, 2020[125] - The total borrowings as of September 30, 2020, were HK$275,863,000, down from HK$283,655,000 as of March 31, 2020, indicating a reduction of 2.7%[125] Taxation - Income tax expenses for the period were HK$6,010,000, down from HK$8,284,000 in 2019[62] - The Hong Kong profits tax provision for the period was HK$5,760,000, a decrease of 30.5% from HK$8,284,000 in 2019[87] - The Group has unutilised tax losses of approximately HK$33,543,000 available for offsetting against future taxable profits, down from HK$68,805,000 as of 31st March 2020[91] Market Performance - The average daily turnover for the first nine months of 2020 was HK$125.7 billion, an increase of approximately 38.9% compared to HK$90.5 billion for the same period last year[182] - The Hang Seng Index recorded at 23,275 points on the last trading date in September 2020, having moved within the range of 24,000 to 26,000 points during the third quarter[181]
美建集团(00335) - 2021 - 中期财报