Financial Performance - The company reported a profit attributable to shareholders of approximately HKD 26,800,000 for the six months ended June 30, 2019, compared to a loss of HKD 22,200,000 for the same period in 2018, marking a significant turnaround [3]. - Operating income totaled approximately HKD 304,600,000, an increase of about 80% compared to HKD 169,200,000 for the same period in 2018, driven by strong performance in media and financial services [4]. - The group reported total operating income of HKD 304.64 million for the six months ended June 30, 2019, compared to HKD 169.196 million for the same period in 2018, marking an increase of 80.06% [22]. - The group achieved a net profit attributable to shareholders of HKD 26.782 million for the six months ended June 30, 2019, compared to a loss of HKD 22.171 million for the same period in 2018 [22]. - The group’s pre-tax profit for the six months ended June 30, 2019, was HKD 29,061,000, compared to a loss of HKD 20,201,000 in the same period of 2018 [61]. - Basic and diluted earnings per share for the six months ended June 30, 2019, were HKD 2.32, compared to a loss per share of HKD 2.08 for the same period in 2018 [22]. Revenue Growth - The financial services segment generated approximately HKD 46,100,000 in revenue, up from HKD 6,300,000 in the previous year, indicating robust growth in this area [4]. - Revenue from the insurance brokerage business was approximately HKD 10.6 million for the six months ended June 30, 2019, compared to HKD 6.3 million for the same period in 2018, representing a growth of 68.25% [17]. - Media business revenue recorded approximately HKD 186 million for the six months ended June 30, 2019, an increase from HKD 160.4 million for the same period in 2018, reflecting a growth of 15.94% [17]. - The reported segment revenue for the financial services division was HKD 46,151,000 in 2019, compared to HKD 6,284,000 in 2018, representing a significant increase [59]. - The media segment reported revenue of HKD 185,983,000 in 2019, up from HKD 160,382,000 in 2018, indicating a growth of approximately 16% [59]. Operating Expenses - Operating expenses increased by approximately 42.8% to HKD 270,400,000, primarily due to higher employee costs and service expenses [5]. - Operating expenses totaled HKD 270.367 million for the six months ended June 30, 2019, compared to HKD 189.361 million for the same period in 2018, an increase of 42.73% [22]. - Interest expenses for the group totaled HKD 5,212,000 in 2019, a significant increase from HKD 36,000 in 2018 [63]. - The group incurred depreciation and amortization expenses of HKD 11,624,000 in 2019, compared to HKD 3,228,000 in 2018 [61]. Cash Flow and Liquidity - The company's cash and bank deposits were approximately HKD 106,100,000 as of June 30, 2019, down from HKD 245,700,000 at the end of 2018, reflecting a decrease in liquidity [9]. - The company’s cash and cash equivalents decreased to HKD 106,118 thousand from HKD 245,737 thousand, a decline of approximately 56.9% [28]. - For the six months ended June 30, 2019, cash used in operating activities was HKD (18,146) thousand, an improvement from HKD (24,384) thousand in the same period of 2018, representing a decrease of approximately 25.5% [32]. - The net cash used in investing activities was HKD (73,258) thousand, compared to HKD (87,677) thousand in the prior year, indicating a reduction of about 16.5% [32]. - The company reported a cash balance of HKD 95,403 thousand as of June 30, 2019, down from HKD 387,405 thousand at the beginning of the year [32]. Assets and Liabilities - As of June 30, 2019, total assets amounted to HKD 1,185,606 thousand, a decrease from HKD 1,152,323 thousand as of December 31, 2018, reflecting a growth of approximately 2.9% [28]. - Non-current assets increased to HKD 554,091 thousand from HKD 385,547 thousand, representing a significant increase of approximately 43.7% year-over-year [28]. - Current liabilities rose to HKD 233,547 thousand, up from HKD 216,383 thousand, indicating an increase of about 7.9% [28]. - The total liabilities for the financial services segment were HKD 43,564,000, while the media segment reported liabilities of HKD 96,885,000 as of June 30, 2019 [59]. - The total equity increased to HKD 739,045 thousand from HKD 722,094 thousand, showing a growth of about 2.3% [30]. Shareholder Information - The company has a total of 680,508,005 shares held by its controlling shareholder, Hichang, representing 57.43% of the issued shares [126]. - The company has a total of 678,259,144 shares under short positions, which accounts for 57.24% of the issued shares [128]. - The company’s major shareholders include Bessen Capital, which holds 680,508,005 shares, also representing 57.43% of the issued shares [126]. - The company’s shareholding structure indicates that Mr. Xu holds significant control through Hichang and Bessen Capital [121]. - The company has no unexercised options under the share option plan since its adoption [123]. Corporate Governance - The audit committee reviewed the unaudited interim financial report for the six months ended June 30, 2019 [134]. - The company has complied with all provisions of the Corporate Governance Code during the reporting period [132]. - All directors confirmed compliance with the Securities Trading Code during the six months ended June 30, 2019 [133].
贝森金融(00888) - 2019 - 中期财报