Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 21,480,000, an increase of 53% compared to HKD 14,034,000 for the same period in 2020[6] - Gross profit for the same period was HKD 6,808,000, representing a gross margin of approximately 31.7%, up from HKD 4,142,000 in 2020[6] - The company reported a loss before tax of HKD 4,643,000, compared to a loss of HKD 3,632,000 in the previous year, indicating a deterioration in performance[6] - Total comprehensive income for the period was HKD 1,529,000, significantly lower than HKD 10,929,000 in the prior year[6] - The operating loss before tax for the six months ended September 30, 2021, was HKD 4,643,000, compared to a loss of HKD 3,632,000 in the same period of 2020[27] - Basic and diluted loss per share for the six months ended September 30, 2021, was HKD 2.18, compared to HKD 1.71 for the same period in 2020[27] - The group recorded a classified loss of approximately HKD 3,773,000 for the six months ended September 30, 2021, which is a 182% increase from the loss of HKD 1,336,000 for the same period in 2020[51] Revenue Breakdown - Property development and sales generated HKD 16,246,000, up 61% from HKD 10,065,000 year-on-year[19] - Total revenue from property management was HKD 281,000, an increase from HKD 192,000 in the previous year[18] - Revenue from hydropower station operation management was HKD 4,328,000, up from HKD 3,357,000 year-on-year[18] - Revenue from property investment was approximately HKD 625,000 for the six months ended September 30, 2021, a 49% increase from HKD 420,000 for the same period in 2020[53] - For the six months ended September 30, 2021, the revenue and profit of the clean and renewable energy business were approximately HKD 4,328,000 and HKD 2,238,000, respectively, compared to HKD 3,357,000 and HKD 1,703,000 for the same period in 2020, representing a revenue increase of about 29%[56] Assets and Liabilities - Non-current assets as of September 30, 2021, totaled HKD 101,467,000, slightly down from HKD 101,760,000 as of March 31, 2021[8] - Current assets increased to HKD 293,293,000 from HKD 290,965,000, driven by an increase in trade receivables and properties under development[8] - The company’s total equity as of September 30, 2021, was HKD 314,575,000, a slight increase from HKD 313,046,000 as of March 31, 2021[9] - As of September 30, 2021, trade receivables amounted to HKD 3,731,000, an increase from HKD 3,449,000 as of March 31, 2021[29] - Trade payables were reported at HKD 8,200,000 as of September 30, 2021, down from HKD 8,467,000 as of March 31, 2021[33] - Total borrowings stood at HKD 22,876,000 as of September 30, 2021, compared to HKD 22,502,000 as of March 31, 2021[34] - The debt-to-equity ratio remained stable at 0.11 as of September 30, 2021, consistent with the previous period[58] - The current ratio decreased to 3.85 as of September 30, 2021, from 4.27 as of March 31, 2021, due to the classification of bonds payable due within the next twelve months[58] Cash Flow - The company’s cash and cash equivalents at the end of the reporting period were HKD 12,647,000, up from HKD 12,087,000 at the beginning of the period[13] - The net cash used in operating activities was HKD 141,000, a significant improvement from HKD 14,727,000 used in the same period last year[13] - As of September 30, 2021, the bank balance and cash amounted to approximately HKD 12,647,000, up from HKD 12,087,000 as of March 31, 2021[58] Corporate Governance - The company has adopted all provisions of the corporate governance code as of September 30, 2021, with exceptions noted regarding attendance at the annual general meeting[86] - The board of directors includes three executive directors and three independent non-executive directors as of September 30, 2021[90] - The audit committee has been established and its terms of reference updated to comply with the standard code[89] - All directors confirmed compliance with the standard code regarding securities transactions for the six months ending September 30, 2021[87] Future Outlook - The company has not provided specific guidance for future performance but continues to focus on operational improvements and market expansion strategies[6] - The group anticipates continued recovery in the Chinese real estate market post-pandemic, aligning with national policies to stabilize the economy[52] - The company plans to continue investing in renewable energy to ensure sustainable revenue growth in the long term[56] - The company aims to diversify its business segments to enhance and expand its revenue streams despite external challenges[73] Shareholding Structure - As of September 30, 2021, the company has a total of 108,591,364 shares held by Da Rong Capital Limited, representing 51.02% of the issued share capital[75] - Lushan Investment Holding Limited holds 145,895,712 shares, which accounts for 68.55% of the issued share capital[79] - The shares pledged by Da Rong Capital Limited to Lushan Investment Holding Limited amount to 108,591,364 shares, representing approximately 51.02% of the company's issued share capital[80] - Wang Jing, the beneficial owner of 82.8% of Liao Ning Shi Hua Group, holds 108,591,364 shares, which is 51.02% of the issued share capital[81] - The company has no other recorded interests or short positions in its shares as of September 30, 2021, according to the Securities and Futures Ordinance[83]
中国华星(00485) - 2022 - 中期财报