Financial Performance - Total revenue for the six months ended June 30, 2021, was HK$33,918,000, a decrease of 3.9% from HK$35,310,000 in the same period of 2020[6] - Gross profit increased to HK$21,650,000, up 13.4% from HK$19,072,000 year-on-year[6] - Loss for the period was HK$30,803,000, compared to a loss of HK$1,952,000 in the same period of 2020[6] - Total comprehensive expense for the period was HK$28,557,000, significantly higher than HK$1,738,000 in the previous year[7] - Basic loss per share for the period was HK$0.04, compared to HK$0.00 in the same period of 2020[7] - The company reported a fair value loss on investment properties of HK$18,093,000 for the period[6] - The company reported a total comprehensive expense of HK$74,758,000 for the period ended June 30, 2020, which included a loss of HK$1,372,000[16] - The company reported a loss for the period of HK$27,792,000 for the six months ended December 31, 2020, compared to a loss of HK$1,372,000 for the same period in 2020[16] Assets and Liabilities - Non-current assets increased to HK$293,001,000 as of June 30, 2021, compared to HK$269,605,000 at the end of 2020[10] - Current assets totaled HK$1,834,818,000, slightly down from HK$1,850,449,000 at the end of 2020[10] - Net assets decreased to HK$1,978,887,000 from HK$2,015,808,000 at the end of 2020[11] - The company’s total assets as of June 30, 2021, were HK$1,978,887,000, reflecting a decrease from HK$2,023,121,000 at the end of the previous reporting period[16] - The company’s total liabilities increased, with lease liabilities repayment amounting to HK$1,959,000 during the financing activities[16] Cash Flow and Investments - The company’s cash and bank balances stood at HK$1,765,995,000 as of June 30, 2021, down from HK$1,813,337,000 at the end of 2020[10] - For the six months ended June 30, 2021, the net cash used in operating activities was HK$44,864,000, compared to HK$15,635,000 for the same period in 2020, indicating a significant increase in cash outflow[16] - The company experienced a net decrease in cash and cash equivalents of HK$44,880,000 for the six months ended June 30, 2021, compared to HK$25,716,000 in the same period of 2020[16] - The company’s cash and cash equivalents amounted to HK$1,765,995,000, a decrease from HK$1,788,470,000 at the same date in 2020[16] - Interest received during the first half of 2021 was HK$10,048,000, a significant increase from HK$2,116,000 in the same period of 2020[16] Hotel Operations - Hotel operations generated revenue of HK$33,918,000, with HK$14,462,000 recognized over time and HK$3,814,000 at a point in time[32] - The segment profit excluding depreciation for hotel operations was HK$991,000, while the overall segment loss was HK$13,396,000[32] - The geographical market for hotel operations primarily focused on the People's Republic of China, generating HK$18,276,000 in revenue[32] - The hotel segment's overall revenue decreased by 4.0% to HK$33.9 million for the six months ended June 30, 2021, compared to HK$35.3 million for the same period in 2020[125] - The average occupancy rate increased by 1.7% to 31.8% for the six months ended June 30, 2021, from 30.1% in the same period of 2020[125] Share Capital and Options - As of June 30, 2021, the company had 789,211,046 issued and fully paid ordinary shares, with a share capital of HK$7,892,000[81] - The company had 28,000,000 outstanding share options as of June 30, 2021, down from 34,000,000 at the beginning of the year due to 6,000,000 options lapsing during the period[88] - The company’s authorized share capital remained at 150,000,000,000 shares as of June 30, 2021[81] - The share option scheme adopted on May 30, 2013, is valid for 10 years, expiring on June 2, 2023[165] Corporate Governance and Compliance - The Company complied with the Corporate Governance Code during the six months ended June 30, 2021, with some deviations noted[182] - All Directors confirmed compliance with the Model Code for securities transactions during the six months ended June 30, 2021[185] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2021[180] Future Outlook and Strategy - The Group does not expect a robust rebound in the hospitality market for the remaining months of the year due to ongoing COVID-19 impacts[152] - The company anticipates ongoing revenue impacts due to the unpredictable nature of the COVID-19 pandemic, with no strong rebound expected in the hotel industry for the remaining months of the year[154] - The company aims for nearly 100% vaccination among its employees to ensure health and safety during operations[154] - The company is exploring high-growth potential business opportunities in China, including property development and investment, to enhance overall returns for the company and its shareholders[154] - The company has implemented unprecedented health and safety measures as part of its transition to a "new normal" in the hotel industry[153]
大湾区聚变力量(01189) - 2021 - 中期财报