Revenue Performance - For the six months ended June 30, 2021, the Group reported revenue of approximately HK$110.8 million, a decrease of approximately 31.9% compared to HK$162.7 million for the same period in 2020[5]. - Revenue from the Financial Services Business was approximately HK$45.8 million, an increase from approximately HK$37.7 million in the same period of 2020, while revenue from the Media Business decreased to approximately HK$64.9 million from approximately HK$124.9 million[5]. - The Media Business revenue decreased significantly by approximately 48.0%, from approximately HK$124.9 million for the six months ended June 30, 2020, to approximately HK$64.9 million for the same period in 2021[68]. - The decline in Media Business revenue is attributed to various factors, including the impact of social unrest and the COVID-19 pandemic, which led to reduced advertising expenses from clients[71][72]. - Total revenue from contracts with customers decreased to HK$110,756,000 in 2021 from HK$162,670,000 in 2020, representing a decline of approximately 32%[144]. Financial Performance - The Group's loss attributable to owners for the period was approximately HK$52.9 million, a decrease from approximately HK$96.4 million in the same period of 2020[10]. - The loss before tax for the period was HK$53,626,000, improving from a loss of HK$96,867,000 in the previous year, indicating a reduction in losses by approximately 44%[99]. - The loss for the period ended June 30, 2021, was HK$52,864,000, a decrease of 45.2% compared to a loss of HK$96,406,000 for the same period in 2020[101]. - Total comprehensive loss attributable to owners of the company for the period was HK$53,549,000, down from HK$96,117,000 in the previous year, indicating a significant improvement[101]. - Basic and diluted loss per share for the period was HK(4.53) cents, an improvement from HK(8.19) cents in the prior year[99]. Business Segments - The Media Business segment's operating loss narrowed due to the discontinuation of loss-making BUS-SHELTER Advertising and BILLBOARDS Advertising businesses, allowing resource reallocation to more profitable BUS-BODY Advertising and BUS-INTERIOR Advertising[13]. - Revenue from External Asset Management (EAM) services increased to approximately HK$23.6 million for the six months ended June 30, 2021, compared to approximately HK$15.6 million for the same period in 2020, reflecting a significant growth[53]. - The Group's fund management services maintained committed assets under management at approximately HK$8.5 billion as of June 30, 2021, unchanged from December 31, 2020[58]. - Revenue from fund management services for the six months ended June 30, 2021, was approximately HK$15.9 million, slightly up from HK$15.2 million for the same period in 2020[58]. - Revenue from corporate finance advisory services amounted to approximately HK$1.3 million for the six months ended June 30, 2021, as the Group continues to develop this segment despite economic challenges[65]. Assets and Liabilities - As of June 30, 2021, the Group's cash and cash equivalents amounted to approximately HK$183.2 million, an increase from approximately HK$151.9 million as of December 31, 2020[28]. - The Group's total assets were approximately HK$592.9 million as of June 30, 2021, compared to approximately HK$621.0 million as of December 31, 2020[30]. - The Group's indebtedness was approximately HK$106.2 million as of June 30, 2021, down from approximately HK$165.7 million as of December 31, 2020, resulting in a gearing ratio of 26.1%[29]. - Current liabilities decreased to HK$177,579,000 from HK$218,554,000, representing a decline of 18.7%[106]. - The total liabilities reduced to HK$185,298,000 in 2021 from HK$233,786,000 in 2020, indicating a decrease of approximately 20.8%[141]. Cash Flow - For the six months ended June 30, 2021, the net cash flows from operating activities were HK$ (10,461,000), a decrease from HK$ 30,321,000 in the same period of 2020[114]. - The net cash flows from investing activities increased to HK$ 45,314,000 in 2021, compared to HK$ 35,496,000 in 2020[115]. - The company reported a net increase in cash and cash equivalents of HK$ 31,251,000 for the six months ended June 30, 2021, compared to HK$ 58,053,000 in 2020[115]. - Cash and cash equivalents at the end of the period were HK$ 178,152,000, up from HK$ 150,107,000 at the end of June 2020[115]. Strategic Initiatives - The Group will continue to review and adjust strategies for its Financial Services and Media Businesses to achieve corporate goals and support future development[45][49]. - The management remains optimistic about the corporate finance advisory segment's potential to contribute more significantly to overall revenue starting from the second half of 2021[65]. - The Group is exploring new opportunities in emerging financial markets to further develop its Financial Services Business[66]. - The board plans to strategically streamline and adjust resource allocation across business segments to enhance shareholder returns[89]. Market Conditions - The overall decrease in revenue was attributed to changes in advertising platforms, discontinuation of certain business segments, and the adverse impact of the COVID-19 pandemic on the advertising market[6]. - The Group expects the overall business environment to remain challenging due to the ongoing COVID-19 pandemic, but anticipates gradual recovery in performance in the second half of 2021[86]. - The company will continue to monitor market conditions and respond timely to changes due to the pandemic[89].
贝森金融(00888) - 2021 - 中期财报