Financial Performance - For the six months ended June 30, 2021, the group recorded consolidated revenue of approximately HKD 2.12 billion, compared to approximately HKD 16.02 billion for the same period in 2020[10] - The group reported a consolidated operating loss of approximately HKD 2.09 billion for the first half of 2021, compared to an operating loss of approximately HKD 1.14 billion for the same period in 2020[10] - The loss attributable to shareholders for the six months ended June 30, 2021, was approximately HKD 4.17 billion, compared to a net loss of approximately HKD 2.53 billion for the same period in 2020[10] - The basic loss per share for the six months ended June 30, 2021, was approximately HKD 22.55, compared to a loss per share of approximately HKD 15.91 for the same period in 2020[10] - The group's consolidated revenue for the six months ended June 30, 2021, was approximately HKD 2.12 billion, a decrease of about 87% compared to HKD 16.02 billion in the same period of 2020[22] - The group recorded a net loss attributable to shareholders of approximately HKD 4.17 billion for the six months ended June 30, 2021, compared to a net loss of approximately HKD 2.53 billion in the same period of 2020[20] - The gross profit for the six months ended June 30, 2021, was approximately HKD 1.45 billion, a decrease of about 48% from HKD 2.77 billion in the same period of 2020, resulting in a gross margin of 68%[22] - Financing costs for the six months ended June 30, 2021, were approximately HKD 1.92 billion, an increase from HKD 1.18 billion in the same period of 2020[20] - The group’s administrative expenses for the six months ended June 30, 2021, were approximately HKD 3.55 billion, a decrease of 9% compared to HKD 3.91 billion in the same period of 2020[22] - The company reported a total comprehensive loss of HKD 712 million for the period, compared to a loss of HKD 335 million in the same period of 2020[58] Assets and Liabilities - The group's current assets as of June 30, 2021, were approximately HKD 54.51 billion, compared to HKD 25.99 billion as of December 31, 2020[22] - The total borrowings of the group as of June 30, 2021, amounted to approximately HKD 113.46 billion, up from HKD 82.03 billion as of December 31, 2020[24] - The current liabilities of the group as of June 30, 2021, were approximately HKD 34.09 billion, compared to HKD 20.03 billion as of December 31, 2020[22] - As of June 30, 2021, the total value of assets pledged as collateral for loans was approximately HKD 8.144 billion[34] - The total liabilities as of June 30, 2021, were HKD 12,555 million, compared to HKD 9,646 million at the end of 2020, indicating an increase in financial obligations[72] Cash Flow and Financing - Cash used in operating activities for the six months ended June 30, 2021, was approximately HKD 298 million, a decrease from HKD 997 million in the same period of 2020 due to significant property sales in 2020[32] - The net cash generated from financing activities was HKD 3,265 million, a significant increase compared to a net cash outflow of HKD 426 million in the same period of 2020[63] - The company reported a net cash outflow from operating activities of HKD 298 million for the first half of 2021, compared to a cash inflow of HKD 997 million in the same period of 2020[63] - The company completed the repurchase of approximately USD 384 million of its guaranteed notes on June 18, 2021[25] - The group issued USD 800 million bonds due in 2026 at a rate of 5.125%, part of which will be used to redeem USD 700 million bonds maturing in March 2022[10] Market Outlook and Strategy - The group anticipates that the tourism and consumption demand in Japan will gradually improve in the coming months as vaccination rates increase and government relief measures are implemented[5] - The company remains optimistic about future performance despite uncertainties due to the COVID-19 pandemic and variants like Delta[38] - The management team will continue to monitor market conditions closely and plan cautiously in a challenging and rapidly changing environment[38] - The company provided a positive outlook for the second half of 2021, projecting a revenue growth of 10% to 12%[42] - New product launches are expected to contribute an additional HKD 300 million in revenue by the end of the fiscal year[42] Shareholder Information - The company’s shareholding by PCCW Limited decreased to approximately 31.17% as of June 30, 2021, down from 40.03% as of December 31, 2020[125] - The company reported a total of 2,038,236,743 issued and fully paid ordinary shares as of June 30, 2021[114] - Major shareholder PCCW holds 635,354,407 shares, accounting for 31.17% of the total issued shares[166] Corporate Governance - The audit committee reviewed the unaudited condensed consolidated interim financial information for the six months ending June 30, 2021[176] - The company maintains high standards of corporate governance, adhering to applicable laws and regulations[177] - No significant risks or internal control deficiencies were identified during the risk management and internal control system assessment[178] - All directors confirmed compliance with the company's securities trading code during the six months ending June 30, 2021[180]
盈大地产(00432) - 2021 - 中期财报