Financial Performance - For the six months ended 30 June 2020, the Group reported revenue of approximately HK$162.7 million, a decrease of 30.8% compared to HK$235.0 million for the same period in 2019[6]. - The Group's loss for the period was approximately HK$96.4 million, compared to a profit of approximately HK$26.8 million for the same period in 2019[13]. - The overall decrease in revenue was attributed to the negative impacts of the COVID-19 pandemic, social unrest in Hong Kong, and a volatile global financial market[6]. - For the six months ended June 30, 2020, the Group reported a loss of approximately HK$96.4 million, compared to a profit of approximately HK$26.8 million for the same period in 2019, indicating a significant decline in performance[15]. - The Group reported a loss before tax of HK$96,867,000 for the six months ended June 30, 2020, compared to a profit of HK$29,061,000 for the same period in 2019[87]. - The loss attributable to ordinary equity holders of the Company for the period was HK$96,406,000, compared to a profit of HK$26,782,000 in the same period of 2019[87]. - Total comprehensive loss attributable to ordinary equity holders of the company was HK$96,117,000 for the period, down from a total comprehensive income of HK$26,787,000 in 2019[89]. - The Group recorded an unrealized gain on financial assets at fair value through profit or loss of approximately HK$68.4 million for the six months ended June 30, 2020[72]. Revenue Breakdown - Revenue from the Financial Services Business was approximately HK$37.7 million, down from HK$49.0 million in the prior year, while the Media Business generated approximately HK$124.9 million, down from HK$186.0 million[6]. - Revenue decreased by approximately HK$72.3 million, partially offset by reductions in production costs and employee expenses of approximately HK$13.1 million and HK$26.3 million, respectively[15]. - The Media Business recorded revenue of approximately HK$124.9 million for the six months ended June 30, 2020, a decline from approximately HK$186.0 million for the same period in 2019, representing a decrease of about 32.8%[61][65]. - Revenue from external asset management services was approximately HK$15.6 million for the six months ended 30 June 2020, compared to approximately HK$18.8 million for the same period in 2019[48]. - Revenue from fund management services was approximately HK$15.2 million for the six months ended 30 June 2020, compared to approximately HK$16.3 million for the same period in 2019[49]. - Revenue from contracts with customers decreased to HK$162,670,000 in 2020 from HK$234,962,000 in 2019, representing a decline of approximately 30.8%[132]. Impairment and Adjustments - The Group recognized an impairment loss on goodwill in respect of the Financial Services Business of approximately HK$70.1 million due to the adverse impact of the COVID-19 pandemic[8]. - An impairment loss of approximately HK$21.7 million was recognized for the Media Business assets, including property, plant and equipment, due to a significant downward adjustment in future revenue expectations[12]. - The impairment loss recognized for the investment advisory services and fund management business was approximately HK$70,086,000 for the six months ended June 30, 2020[161]. - The revenue growth percentage for investment advisory services and fund management businesses was adjusted downward from 6% to a range of 0% to 1% due to the pandemic's impact[8]. Cash Flow and Assets - The Group's cash and cash equivalents as of June 30, 2020, amounted to approximately HK$155.1 million, an increase from approximately HK$80.7 million as of December 31, 2019[19]. - Net current assets were approximately HK$203.3 million as of June 30, 2020, compared to approximately HK$276.5 million as of December 31, 2019[25]. - The company reported an increase in financial assets at fair value through profit or loss to HK$245,872,000 as of June 30, 2020, compared to HK$167,452,000 at the end of 2019, a rise of approximately 46.8%[92]. - Total assets decreased to HK$933,649,000 as of June 30, 2020, down from HK$1,096,167,000 as of December 31, 2019, reflecting a reduction of approximately 14.9%[129]. - The company held cash and cash equivalents of HK$155,141,000 as of June 30, 2020, an increase from HK$80,722,000 at the end of 2019, representing a growth of about 92.1%[92]. Share Options and Dividends - A total of 118,020,000 share options were granted under the Share Option Scheme during the six months ended June 30, 2020, with a total expense recognized of approximately HK$9.3 million[36]. - No interim dividend was proposed for the six months ended June 30, 2020, consistent with the previous year[18]. - The total expense recognized in the consolidated statement of profit or loss for share options granted was approximately HK$9.3 million for the six months ended 30 June 2020, compared to zero for the same period in 2019[39]. Future Outlook and Strategy - The Group anticipates a decline in advertisement revenue for the Media Business throughout 2020 due to the adverse business environment caused by the COVID-19 pandemic and other uncertainties[62]. - The Group is exploring investment opportunities to diversify income streams and maximize returns for shareholders[68]. - The Group will strategically streamline and alter resource allocation among business segments to respond to market conditions and the COVID-19 pandemic[73]. - The Group's financial performance is expected to continue being affected by the COVID-19 pandemic and volatile global financial markets until recovery signs emerge[162].
贝森金融(00888) - 2020 - 中期财报