Financial Performance - Revenue for the six months ended June 30, 2021, was HKD 13,836,000, a significant increase from HKD 2,569,000 in the same period of 2020, representing a growth of approximately 439%[10] - Gross profit for the same period was HKD 11,305,000, compared to HKD 2,033,000 in 2020, indicating a gross margin improvement[10] - Profit before tax from continuing operations was HKD 8,213,000, a turnaround from a loss of HKD 1,683,000 in the previous year[10] - The net profit attributable to shareholders for the period was HKD 8,213,000, compared to a loss of HKD 128,315,000 in the same period last year[10] - Basic and diluted earnings per share for the period were HKD 2.12, recovering from a loss of HKD 47.52 per share in 2020[10] - The company achieved a profit of HKD 8,213,000 for the six months ended June 30, 2021, a significant recovery from a loss of HKD 128,315,000 in the same period of the previous year[19] - The adjusted profit before tax for the six months ended June 30, 2021, was HKD 8,213,000, compared to a loss of HKD 128,315,000 in the same period of 2020[30] - The group recorded a profit of approximately HKD 8,000,000 for the period, compared to a loss of HKD 128,000,000 in the previous year, primarily due to the completion of a group restructuring plan[91] Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 1,945,373,000, an increase from HKD 1,855,831,000 at the end of 2020[16] - Current liabilities increased to HKD 409,178,000 from HKD 320,085,000 at the end of 2020, indicating a rise in short-term obligations[16] - The net asset value was HKD 1,511,904,000, slightly up from HKD 1,511,455,000 at the end of 2020[16] - The total equity as of June 30, 2021, was HKD 1,511,904,000, an increase from HKD 1,320,991,000 as of June 30, 2020[19] - The company's total borrowings amounted to approximately HKD 389,000,000, an increase from HKD 299,000,000 as of December 31, 2020[100] - The debt-to-equity ratio as of June 30, 2021, was approximately 25.75%, compared to 19.77% as of December 31, 2020[100] Cash Flow - The company reported a net cash inflow from operating activities of HKD 97,370,000 for the six months ended June 30, 2021, compared to a net outflow of HKD 1,127,000 for the same period in 2020[22] - The company reported a significant reduction in financing cash outflow to HKD 7,398,000 for the six months ended June 30, 2021, down from HKD 48,012,000 in the previous year[22] - The cash and cash equivalents increased to HKD 251,100,000 as of June 30, 2021, from HKD 152,057,000 at the end of the previous year[22] - As of June 30, 2021, cash and cash equivalents amounted to HKD 251,100,000, an increase of 55.8% from HKD 161,116,000 as of December 31, 2020[59] Revenue Sources - Revenue from property investment for the six months ended June 30, 2021, was HKD 13,759,000, compared to HKD 2,568,000 in the same period of 2020[30] - Revenue from continuing operations for the six months ended June 30, 2021, was HKD 13,759,000, a significant increase from HKD 2,568,000 in the same period of 2020[37] - Rental income for the period was HKD 13,759,000, significantly up from HKD 2,568,000 in the previous year[78] - Rental income for the investment properties increased significantly to approximately HKD 14,000,000, up from HKD 3,000,000 in the same period last year, attributed to the expansion of the investment property portfolio[92] Shareholder Information - The company declared an interim dividend of HKD 0.01 per ordinary share, amounting to HKD 3,882,000 for the six months ended June 30, 2021[47] - As of June 30, 2021, the company's major shareholder, Mr. Liu Zhiyong, holds approximately 75% of the company's issued shares, totaling 291,137,700 shares[108] - The company will suspend share transfer registration from October 5 to October 7, 2021, for the purpose of qualifying for the interim dividend[123] - The interim dividend is scheduled to be distributed on October 21, 2021, to shareholders listed on the register as of October 7, 2021[123] Corporate Governance - The audit committee has reviewed the accounting principles and practices adopted by the group, including the unaudited interim results for the six months ending June 30, 2021[125] - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules and has complied with its principles during the six months ending June 30, 2021[126] - All directors confirmed compliance with the standard code of conduct for securities trading as stipulated in the listing rules during the same period[130] - The mid-term report for 2021, containing all information required by the listing rules, is available on the company's website and the Hong Kong Stock Exchange website[131] Market Outlook - The company maintains a cautious outlook for the second half of 2021 due to ongoing uncertainties in the global economic recovery from the COVID-19 pandemic[105] - Rental income and occupancy rates for the company's investment properties are expected to face significant pressure in the short to medium term[105] - The company has maintained a stable financial position and sustainable debt levels throughout the pandemic[105] - The management will continue to seek and seize suitable investment opportunities to create value for shareholders[105]
东方兴业控股(00430) - 2021 - 中期财报