Financial Performance - The Group recorded revenue of approximately HK$46.49 million, representing a decrease of approximately 18.54% compared to approximately HK$57.07 million for the corresponding period in 2018[9]. - The Group recorded a loss of approximately HK$35.32 million, an improvement from a loss of approximately HK$45.21 million in 2018[9]. - Revenue from private educational services was HK$44.52 million, down from HK$54.91 million in the previous year[14]. - Interest income from money lending was HK$1.97 million, compared to HK$2.16 million in 2018[14]. - Loss before tax was HK$35.34 million, compared to HK$45.23 million in the previous year[14]. - The company reported a loss of HK$35,321,000 for the six months ended December 31, 2019, compared to a loss of HK$45,248,000 in the same period of 2018, indicating a 22.5% improvement in performance[16]. - Total comprehensive expense for the period attributable to owners of the company was HK$35,327,000, down from HK$45,310,000 year-over-year, reflecting a 22.1% decrease[16]. - Basic loss per share improved from HK$0.08 to HK$0.06, indicating a 25% reduction in loss per share[16]. - The total comprehensive expense for the period was HK$ (35,321,000), compared to HK$ (45,248,000) in the prior period[24]. - The company reported a total comprehensive income of HK$ (35,321,000) for the period, reflecting ongoing financial challenges[24]. Assets and Liabilities - As of December 31, 2019, the Group had a current ratio of 2.94 times and a gearing ratio of 27.78%[9]. - Non-current assets decreased from HK$70,502,000 as of June 30, 2019, to HK$96,641,000 as of December 31, 2019, showing a significant increase of 37.1%[18]. - Current liabilities decreased from HK$53,335,000 to HK$34,885,000, representing a 34.4% reduction[18]. - The company's net current assets decreased from HK$148,598,000 to HK$103,317,000, a decline of 30.5%[18]. - The company’s total equity decreased from HK$218,157,000 to HK$182,827,000, reflecting a 16.2% decline[20]. - The Group's right-of-use assets amounted to HK$34,764,000 as of December 31, 2019, after adjustments and depreciation[46]. - Lease liabilities were reported at HK$23,731,000 for current liabilities and HK$28,035,000 for non-current liabilities[43]. - The Group's segment revenue for private educational services was HK$44,516,000, while money lending generated HK$1,969,000, leading to a total consolidated revenue of HK$46,485,000 for the six months ended December 31, 2019[57]. Cash Flow - For the six months ended December 31, 2019, the net cash used in operating activities was HK$ (19,769,000), a decrease from HK$ (42,518,000) in the same period of 2018[26]. - The net cash generated from investing activities was HK$ 20,390,000, while net cash used in financing activities was HK$ (969,000)[26]. - Cash and cash equivalents at the end of the period amounted to HK$ 6,485,000, down from HK$ 14,390,000 at the end of the previous year[26]. - The cash flow from operating activities showed improvement, reducing the cash outflow compared to the previous period[26]. Dividends and Recommendations - The Board does not recommend the payment of an interim dividend for the six months ended December 31, 2019[10]. - The Board does not recommend the payment of an interim dividend for the six months ended 31 December 2019, consistent with 2018[99]. Segment Performance - The segment results showed a loss of HK$21,600,000 for private educational services and a loss of HK$9,679,000 for investment in securities, resulting in a total loss before tax of HK$35,340,000[57]. - The segment results showed a loss of HK$38,218,000, compared to a loss of HK$20,748,000 in the previous period, indicating a deterioration in performance[62]. - The Group's operations are organized into three segments: private educational services, investment in securities, and money lending, with "Others" combining segments that do not meet the quantitative thresholds[52]. Customer and Market Focus - The group’s assets, revenue, and results from activities outside Hong Kong were less than 10% of the total for the period, indicating a strong domestic focus[72]. - No individual customer accounted for over 10% of the group’s total revenue during both periods, reflecting a diversified customer base[72]. - The number of course enrolments for regular courses decreased from approximately 41,000 in 2018 to 25,000 in 2019, while intensive courses saw a decline from 1,000 to 900[168]. Financial Assets and Investments - The Group's financial assets at fair value through profit or loss (FVPL) amounted to approximately HK$51,750,000[185]. - The Group experienced a fair value loss of approximately HK$9,400,000 on financial assets at FVPL during the period due to stock market volatility[185]. - Significant investments included Convoy Global Holdings Limited, which accounted for approximately 2.34% of the Group's total assets as of December 31, 2019[188]. - The Group's investment in Gransing Financial Group Limited represented approximately 6.09% of the Group's total assets as of December 31, 2019[195]. Regulatory and Compliance - 康宏股份自2017年12月7日起暂停交易，至今仍未恢复[200]. - 根据上市规则，若康宏股份连续18个月停牌，可能会被取消上市地位，期限至2020年1月31日[200]. - 康宏已向联交所申请延长补救期，以满足复牌条件[200]. - 康宏采取进一步措施以达成复牌条件，并与联交所进行沟通[200].
源宇宙教育(01082) - 2020 - 中期财报