Financial Performance - Total revenue for the six months ended June 30, 2021, was HK$1,124,219,000, an increase from HK$38,601,000 in the same period of 2020[11] - Gross profit for the period was HK$52,161,000, compared to HK$32,609,000 in the previous year, reflecting a significant improvement[11] - Operating profit increased to HK$29,450,000, up from HK$14,752,000 in the prior year, indicating strong operational performance[11] - Profit for the period was HK$17,922,000, compared to HK$8,482,000 in the same period last year, showing a year-on-year growth of 111%[11] - Profit attributable to owners of the Company was HK$11,418,000, significantly higher than HK$2,117,000 in the previous year[11] - Total comprehensive income for the period was HK$16,916,000, compared to a loss of HK$28,357,000 in the previous year[13] - Basic and diluted earnings per share rose to 0.29 HK cents, compared to 0.05 HK cents in the same period last year[13] - Adjusted profit before income tax for the six months ended June 30, 2021, was HK$27,327,000, compared to HK$13,606,000 for the same period in 2020, representing an increase of approximately 100%[97] - The company reported segment results of HK$40,747,000 for the six months ended June 30, 2021, up from HK$27,837,000 in the same period of 2020, indicating a growth of about 46%[97] Revenue Streams - The Company’s consultancy service income and property leasing income totaled HK$1,079,148,000, with no income reported in the previous year[11] - The supply chain management business generated revenue of HK$1,071,829,000 during the period, marking a new revenue stream for the company[84] - The trading of goods was introduced as a new revenue stream, contributing to the overall revenue growth without restating prior period segment revenue information[82] Costs and Expenses - The Company reported finance costs of HK$1,904,000, an increase from HK$1,512,000 in the previous year[11] - Income tax expense for the period was HK$9,405,000, compared to HK$5,124,000 in the same period of 2020[11] - Central administration costs decreased to HK$13,263,000 in the first half of 2021 from HK$14,849,000 in the same period of 2020, showing a reduction of approximately 10.6%[97] - Employee benefit expenses decreased to HK$13,789,000 in the first half of 2021 from HK$16,029,000 in 2020, a reduction of approximately 13.9%[114] Assets and Liabilities - Total assets as of June 30, 2021, amounted to HK$2,211,859,000, an increase from HK$2,161,473,000 at the end of 2020[15] - Total non-current assets decreased to HK$902,611,000 from HK$1,042,600,000, reflecting a decline of approximately 13.4%[15] - Current assets increased to HK$1,309,248,000, up from HK$1,118,873,000, indicating a growth of about 17%[15] - Total liabilities increased to HK$431,251,000 from HK$397,484,000, marking an increase of approximately 8.5%[17] - Cash and cash equivalents decreased to HK$204,285,000 from HK$318,818,000, a decline of about 36%[15] Equity and Reserves - Total equity as of June 30, 2021, was HK$1,780,608,000, compared to HK$1,763,989,000 at the end of 2020, showing a slight increase[17] - The retained earnings increased to HK$475,947,000 as of June 30, 2021, reflecting a growth in the company's financial position[21] - The share capital remained stable at HK$39,846,000, while the share premium was HK$766,818,000, indicating consistent equity structure[21] - The total equity attributable to owners of the company reached HK$1,780,608,000 as of June 30, 2021, demonstrating a solid equity base[21] Cash Flow - For the six months ended June 30, 2021, the net cash used in operating activities was HK$88,139,000, compared to a net cash generated of HK$176,668,000 in the same period of 2020[27] - Cash flows from investing activities generated a net cash inflow of HK$4,994,000, a decrease from HK$113,123,000 in the previous year[27] - The net cash used in financing activities was HK$31,893,000, compared to HK$386,499,000 in the same period of 2020[27] - The cash and cash equivalents at the end of the period were HK$204,285,000, down from HK$501,280,000 at the end of June 2020[27] Financial Assets and Fair Value - As of June 30, 2021, the Group's financial assets at fair value through profit or loss (FVPL) amounted to HK$3,364,000, while debt instruments at fair value through other comprehensive income (FVOCI) totaled HK$15,693,000[61] - The Group's financial assets at FVPL and FVOCI are determined using quoted market prices, with ongoing reviews of estimates and assumptions[68] - The Group's estimates and assumptions regarding the provision for inventories may lead to differences in actual results[48] - The Group's financial assets are classified into three levels based on the reliability of the inputs used in determining fair value[58] Investments and Disposals - The company completed the disposal of a 40.78% equity interest in Global Digital Creations Holdings Limited, recognizing HK$44,580,000 in equity as a deemed capital contribution[24] - The company recognized a gain of HK$554,000 on the disposal of debt instruments at FVOCI during the period, compared to HK$1,768,000 in the previous year[97] Accounting Policies - The interim financial information was prepared in accordance with Hong Kong Accounting Standard 34 and has not been audited[32] - The Group adopted new accounting standards effective from January 1, 2021, which did not have a material impact on the financial results for the current or prior periods[41]
首惠产业金融(00730) - 2021 - 中期财报