Financial Performance - The company reported a revenue of $1,422,000 for the six months ended June 30, 2020, a decrease of 51.6% compared to $2,935,000 for the same period in 2019[5]. - Gross profit for the period was $450,000, a significant improvement from a gross loss of $3,358,000 in the previous year[5]. - The net loss attributable to the owners of the company was $2,551,000, compared to a net loss of $9,040,000 in the same period last year, indicating a 71.7% reduction in losses[3]. - Other comprehensive income for the period was $3,938,000, compared to $535,000 in the previous year, reflecting a substantial increase[6]. - The company incurred a loss before tax of $2,550,000 for the six months ended June 30, 2020, compared to a loss of $9,040,000 for the same period in 2019[22][24]. - The basic loss per share for the period was $0.35, an improvement from $1.24 in the same period last year[6]. - The company reported a basic loss per share of $0.0035, based on a loss attributable to shareholders of $2,551,000 for the current period[35]. - The pre-tax loss for the six months ended June 30, 2020, was $2,550,000, compared to a pre-tax loss of $9,040,000 for the same period in 2019[54]. Cash Flow and Liquidity - The company's cash and cash equivalents decreased to $10,696,000 as of June 30, 2020, down from $14,589,000 at the end of the previous year[12]. - The company incurred operating cash outflows of $1,751,000 for the period, an improvement from $4,902,000 in the previous year[12]. - The group reported a bank balance and cash net amount of $10,696,000 as of June 30, 2020[57]. - The current ratio recorded was approximately 1.98 times, indicating a strong liquidity position[57]. Assets and Liabilities - Total assets amounted to $42,772,000 as of June 30, 2020, compared to $41,461,000 at the end of 2019, showing a slight increase[8]. - Trade receivables decreased to $338,000 as of June 30, 2020, from $959,000 as of December 31, 2019[40]. - Total trade and other receivables amounted to $481,000 as of June 30, 2020, down from $1,150,000 as of December 31, 2019[40]. - Trade payables increased to $535,000 as of June 30, 2020, compared to $170,000 as of December 31, 2019[42]. - As of June 30, 2020, the group's total net assets amounted to $40,038,000, with current assets of $12,590,000 and non-current assets of $36,545,000[57]. Operational Highlights - The company plans to closely monitor the impact of the COVID-19 pandemic on its operations and financial performance due to reduced sales orders from customers[15]. - The company recognized lease income of $262,000 from Asia during the six months ended June 30, 2020[22]. - The company’s total unallocated expenses for the period were $3,210,000[22]. - The group successfully signed contracts to lease several domestic factories, creating new business and cash flow sources[55]. - The group continues to focus on operational adjustments and resource utilization in response to the pandemic's impact[55]. Shareholder Information - Directors and their associates held a total of 9,000,000 shares, representing 1.23% of the issued share capital[59]. - Pegasus Footgear Management Limited holds 468,743,940 shares, accounting for 64% of the issued share capital[69]. - The group has not engaged in any arrangements for directors to benefit from purchasing shares or debt securities during the period[67]. - The group has complied with the corporate governance code throughout the reporting period[72]. Accounting and Reporting - The company applied revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements for the current period[17]. - The company recorded a revaluation surplus of $4,944,000 during the period, contributing positively to its overall financial position[10]. - The company transferred properties with a carrying value of $1,703,000 to investment properties, resulting in a revaluation gain of $138,000 recognized in other comprehensive income[39]. - The fair value of investment properties as of June 30, 2020, was $6,796,000, reflecting the transfer of assets from property, plant, and equipment[38]. - The company’s interest expense on lease liabilities was $21,000 for the six months ended June 30, 2020, down from $23,000 in the same period of 2019[26]. - The company’s depreciation on property, plant, and equipment was $249,000 for the current period, compared to $700,000 for the same period in 2019[26].
创信国际(00676) - 2020 - 中期财报