Financial Performance - The loss attributable to owners of the Company for the period from January 1, 2021, to June 30, 2021, was approximately HK$1,336,000, compared to a loss of approximately HK$2,495,000 for the same period in 2020[7]. - Revenue for the six months ended June 30, 2021, was HK$16,859,000, an increase of 34.5% compared to HK$12,506,000 for the same period in 2020[63]. - Gross profit for the same period was HK$1,027,000, representing a 6.3% increase from HK$966,000 in 2020[63]. - Profit from operations increased to HK$4,477,000, up 16% from HK$3,860,000 in the previous year[63]. - Loss before taxation improved to HK$1,297,000, a reduction of 46.6% compared to HK$2,429,000 in 2020[63]. - Total comprehensive income for the period was HK$7,999,000, compared to a loss of HK$19,993,000 in the prior year, indicating a significant recovery[65]. - The net translation differences on foreign operations contributed HK$7,744,000 to other comprehensive income, a notable improvement from a loss of HK$11,878,000 in 2020[65]. - The company reported a loss of HK$1,297,000, an improvement from a loss of HK$2,429,000 in the same period of 2020[65]. - The total comprehensive loss for the period was HK$18,789,000, compared to a loss of HK$19,993,000 in the previous year[74]. Property Sales and Development - As of June 30, 2021, 39,241.48 square meters of the gross floor area of the commercial building have been sold, and approximately 20,100 square meters of the gross floor area of the service apartment have been sold[9]. - The total gross floor area of the Jiangning Project is approximately 74,642.00 square meters, including a basement of approximately 14,518.00 square meters and land use rights of approximately 20,050.90 square meters[7]. - The Company is focused on property development and investment, particularly in the Jiangning Development Zone, Nanjing, Jiangsu Province, PRC[7]. - The Group anticipates greater development potential for its properties in Tianjin due to the rapid growth of the logistics and commercial sectors[14]. - The acquisition of the property by Tianjin Jun Hua Logistics is believed to have appreciation potential in value, enhancing the Group's investment portfolio[11]. Financial Position - The Group's equity attributable to owners was approximately HK$490,713,000, reflecting an increase of about 1.6% from HK$483,087,000 at the end of the previous year[16]. - The underlying current ratio was approximately 1.71 as of June 30, 2021, compared to 1.72 on December 31, 2020[16]. - The underlying gearing ratio was approximately 23% as of June 30, 2021, down from 24% at the end of the previous year[16]. - The net current assets were approximately HK$159,497,000 as of June 30, 2021, compared to HK$153,450,000 on December 31, 2020[16]. - The Group's total assets less current liabilities increased to HK$493,736,000 as of June 30, 2021, up from HK$485,912,000 at the end of 2020[67]. - Current assets amounted to HK$385,211,000, reflecting an increase from HK$365,585,000 at the end of 2020[67]. - The Group's total equity as of June 30, 2021, was HK$780,118,000, a slight decrease from HK$800,111,000 at the beginning of the year[74]. Cash Flow and Liquidity - The Group's cash and bank balances decreased to approximately HK$2,982,000 as of June 30, 2021, from HK$18,491,000 at the end of the previous year[16]. - For the six months ended June 30, 2021, the net cash used in operating activities was HK$15,847,000, a significant decrease compared to HK$168,414,000 generated in the same period of 2020[75]. - Cash and cash equivalents at June 30, 2021, were HK$2,982,000, a decrease from HK$159,848,000 at the same date in 2020[75]. - The Group reported a net cash generated from investing activities of HK$3,000 for the six months ended June 30, 2021, compared to HK$98,000 in 2020[75]. Shareholder Information - As of June 30, 2021, Mr. Ye De Chao holds 1,189,290,512 shares, representing 27.85% of the company's issued share capital[29]. - Central Huijin Investment Ltd. and China Construction Bank Corporation both have interests in 1,189,290,512 shares, also accounting for 27.85% of the issued share capital[37][39]. - Expert Ever Limited, owned by Zhang Xiaojun, holds 383,956,000 shares, which is 8.99% of the company's issued share capital[43]. - The total number of issued and fully paid ordinary shares remained unchanged at 4,269,910, with a nominal value of HK$213,496,000 as of June 30, 2021[119]. Operational Highlights - The Group is actively seeking investment opportunities in the PRC to expand its development portfolio and diversify income streams[14]. - The company has not disclosed any new product or technology developments in the interim report[34]. - There are no reported mergers or acquisitions in the interim report[34]. - The company continues to monitor market conditions for potential expansion opportunities[34]. - The report does not provide specific future performance guidance or outlook[34]. Expenses and Costs - General and administrative expenses increased to HK$13,453,000 from HK$8,851,000, reflecting a rise of 52.5%[63]. - Total borrowing costs decreased to HK$5,774,000 from HK$6,289,000, reflecting an 8.2% reduction[84]. - Cost of inventories sold rose to HK$15,653,000 from HK$11,370,000, indicating a 37.5% increase[87]. - The depreciation of right-of-use assets was HK$202,000, slightly up from HK$198,000 in the previous year[87]. Risks and Compliance - The Group had no material foreign exchange exposure risks during the period[19]. - The Group's PRC subsidiaries are subject to a corporate income tax rate of 25%[89]. - The Group did not provide for Hong Kong Profits Tax as there were no estimated assessable profits arising in Hong Kong during the period[89].
中国基建投资(00600) - 2021 - 中期财报