Financial Performance - The company reported a revenue of HKD 146,580,000 for the six months ended December 31, 2019, a decrease of 13% compared to HKD 168,226,000 in the same period of 2018[7]. - Gross profit for the same period was HKD 18,010,000, down from HKD 19,363,000, reflecting a decline in profitability[7]. - The company incurred a loss before tax of HKD 53,105,000, an improvement from a loss of HKD 59,283,000 in the previous year[7]. - Total comprehensive income for the period was a loss of HKD 1,439,000, compared to a loss of HKD 51,724,000 in the same period last year, showing a reduction in overall losses[10]. - The company reported a basic and diluted loss per share of HKD 2.17, compared to HKD 2.51 in the previous year, indicating a slight improvement in loss per share[10]. - The company reported a total revenue of HKD 1,828,432 thousand for the six months ended December 31, 2019, consistent with the previous year's figure[20]. - The company reported a pre-tax loss of HKD 31,874 for the six months ended December 31, 2019, compared to a pre-tax loss of HKD 38,351 for the same period in 2018, indicating an improvement of approximately 17.5%[57]. - The loss attributable to the company's owners for the period was approximately HKD 51,492,000, a reduction of 13.5% from HKD 59,507,000 in the previous year[111]. Cash Flow and Liquidity - The net cash used in operating activities for the six months ended December 31, 2019, was HKD (33,499) thousand, compared to HKD (76,978) thousand for the same period in 2018, indicating an improvement of 56.4%[23]. - The cash and cash equivalents at the end of the period were HKD 34,957 thousand, down from HKD 58,425 thousand in the previous year, a decrease of 40.2%[23]. - The company raised new borrowings of HKD 104,670,000 during the six months ended December 31, 2019, compared to HKD 91,241,000 in the same period of the previous year[92]. - The company made repayments of HKD 100,076,000 during the same period, up from HKD 56,886,000 in the previous year[92]. - As of December 31, 2019, the company had total borrowings of HKD 160,750,000, of which HKD 160,750,000 was secured[92]. - The group’s debt-to-equity ratio as of December 31, 2019, was 0.15, with total borrowings of approximately HKD 169,000,000 against shareholder equity of approximately HKD 1,122,000,000[125]. Assets and Liabilities - Non-current assets totaled HKD 1,092,911,000 as of December 31, 2019, an increase from HKD 1,039,759,000 as of June 30, 2019[12]. - Current assets decreased to HKD 317,995,000 from HKD 361,402,000, indicating a reduction in liquidity[14]. - The total assets as of December 31, 2019, were HKD 1,410,906, slightly up from HKD 1,401,161 as of June 30, 2019[59]. - The total liabilities as of December 31, 2019, were HKD 296,995, an increase from HKD 287,140 as of June 30, 2019[59]. - The deferred tax liabilities increased to HKD 67,379 as of December 31, 2019, compared to HKD 53,575 as of June 30, 2019[59]. Segment Performance - The group reported external customer revenue of 88,875 thousand HKD from cable and wire manufacturing, 51,819 thousand HKD from copper rod trading, and 4,886 thousand HKD from investment properties, totaling 146,580 thousand HKD[49]. - The adjusted pre-tax loss for the cable and wire manufacturing segment was 19,447 thousand HKD, while the copper rod trading segment reported a loss of 1,296 thousand HKD, resulting in a total adjusted pre-tax loss of 31,874 thousand HKD[49]. - The wire and cable business generated revenue of approximately HKD 89,875,000, down 4.4% from HKD 93,965,000 year-on-year, accounting for 61.3% of total revenue[115]. - The copper rod business revenue was approximately HKD 51,819,000, a decrease of 23.4% from HKD 67,611,000 in the previous year, representing 35.4% of total revenue[116]. - Rental income was approximately HKD 4,886,000, down 3.2% from HKD 5,046,000 year-on-year, primarily due to the depreciation of the RMB[118]. Investment and Capital Expenditure - The company has capital commitments of HKD 156,460,000 for building acquisitions as of December 31, 2019[101]. - The group purchased property, plant, and equipment for HKD 924,000 during the six months ended December 31, 2019, a significant decrease from HKD 2,668,000 in the same period of 2018[72]. - The company did not engage in any fundraising or capital restructuring during the review period[133]. - No significant investments were made by the company during the review period[134]. Governance and Compliance - The company has complied with the principles of the corporate governance code, except for deviations from specific provisions[149]. - The roles of the Chairman and CEO are held by the same individual, which is considered to be in the best interest of the group[150]. - The independent non-executive directors have been re-elected at the 2019 annual general meeting, ensuring compliance with governance standards[153][154]. - The audit committee has reviewed the unaudited interim results for the review period and agreed on the accounting treatment adopted[157]. - The company has adopted a standard code of conduct for securities trading, confirming compliance by all directors during the review period[158].
星凯控股(01166) - 2020 - 中期财报