HKR INT'L(HK:00480)2020-12-07 08:44Financial Performance - The group's revenue for the six months ended September 30, 2020, was HKD 2,480.9 million, representing a 30.4% increase from HKD 1,903.1 million in the same period last year[9]. - The profit attributable to shareholders for the same period was HKD 593.6 million, a decrease of 36.8% compared to HKD 939.2 million in the previous year[9]. - Basic earnings per share for the period were HKD 0.40, down from HKD 0.632 in the same period last year[9]. - The group's gross profit margin for the period was 41.9%, up from 41.3% for the year ended March 31, 2020[28]. - The company reported a total profit of HKD 756.6 million for the period, compared to HKD 968.0 million in the previous year, reflecting a decrease of approximately 21.8%[74]. - The company's total revenue from external customers, excluding joint ventures and associates, was HKD 3,373.5 million, indicating strong operational performance[73]. - The company reported a significant increase in cash and cash equivalents, totaling HKD 2,727.2 million, compared to HKD 2,511.4 million at the end of the previous period[61]. - The total comprehensive income for the period was HKD 1,186.2 million, compared to HKD 511.3 million in the same period last year[60]. Assets and Liabilities - The total assets as of September 30, 2020, were HKD 36,700.1 million, a slight decrease from HKD 37,001.3 million in the previous year[7]. - The total liabilities decreased to HKD 10,871.7 million from HKD 12,643.6 million year-on-year[7]. - The net asset value attributable to shareholders was HKD 22,975.9 million, up from HKD 21,709.8 million in the previous year[7]. - As of September 30, 2020, the group's non-current assets amounted to HKD 25,776.2 million, with current assets of HKD 6,827.9 million[54]. - The group's total equity attributable to shareholders was HKD 4,216.2 million as of September 30, 2020[54]. - The total liabilities increased to HKD 11,187.6 million as of September 30, 2020, compared to HKD 10,848.1 million as of March 31, 2020[94]. Dividends and Shareholder Information - The board declared an interim dividend of HKD 0.04 per share, down from HKD 0.05 per share in the same period last year[10]. - As of September 30, 2020, the total shares held by directors and their associates amounted to 802,093,180, representing approximately 54.00% of the issued share capital[37]. - The largest individual shareholder, Mr. Cha Mo-sheng, held 802,093,180 shares, which included 18,553,781 shares of personal interest and 780,114,975 shares under discretionary trusts[37]. - The company reported a change in the number of shares held under discretionary interests on October 12, 2020, resulting in a new total of 802,211,804 shares and a percentage of 54.01%[39]. Loans and Financing - The group secured a five-year syndicated loan totaling HKD 3.35 billion in August 2020 and another HKD 1 billion loan in October 2020[6]. - The group had undrawn credit facilities of approximately HKD 2,376.0 million as of September 30, 2020, a decrease from HKD 5,495.6 million as of March 31, 2020[34]. - The company is a borrower under a loan agreement established on August 4, 2020, with a total principal amount of HKD 3,350 million, maturing five years from the date of the agreement[49]. - The company is also a borrower under a loan agreement established on October 9, 2020, with a total principal amount of HKD 1,000 million, maturing five years from the date of the agreement[49]. Property Development and Investment - The group sold 109 units of the Yat Tei project, with revenue from 93 units recognized during the period[13]. - The group is preparing for sales promotions for the Yat Fung project, which has recently obtained occupancy permits[14]. - The group's property investment segment was impacted by the overall business environment and social distancing measures, with rental rates for existing properties in Discovery Bay at 84% and 97% for the respective shopping areas as of September 30, 2020[15]. - The expansion of Discovery Bay Plaza added approximately 59,000 square feet to the investment property portfolio, enhancing leisure and shopping options for residents and visitors[15]. - In mainland China, the property market is recovering, with sales activities resuming as of September 30, 2020, and a stable growth in transaction volume expected[15]. - The group has nearly sold out its residential projects in Jiaxing, with 577 units in Yuti Garden sold and 694 units in Jingyue Bay sold as of September 30, 2020[16][17]. Healthcare and Hospitality - The group acquired the remaining 43% stake in a dental clinic, gaining full control over its healthcare services, which include chronic disease management and a comprehensive medical network[24]. - The group's hotel business in Hong Kong has seen a higher average occupancy rate compared to the market average, driven by local staycation promotions[21]. - The Sukhothai Bangkok hotel reopened in August after a four-month closure due to lockdown measures, receiving health and safety certification from the Tourism Authority of Thailand[22]. - The Shanghai Sukothai Hotel achieved rapid recovery in occupancy rates, being rated as the second-best hotel in Shanghai by Condé Nast Traveler readers[23]. Economic Outlook and Strategy - The group anticipates continued economic volatility due to the COVID-19 pandemic and geopolitical tensions, but expects stable demand for quality properties in China[27]. - The group plans to maintain a flexible operating strategy to seize opportunities and manage potential risks while safeguarding shareholder interests[27]. - The company plans to expand its market presence and invest in new product development to drive future growth[63]. - The company has implemented new strategies to improve operational efficiency, aiming for a reduction in costs by F% over the next fiscal year[117].