Financial Performance - Revenue for the six months ended December 31, 2018, was approximately RMB 10,884,000, an increase from RMB 9,199,000 in the same period of 2017[2] - The pre-tax loss for the six months ended December 31, 2018, was approximately RMB 4,464,000, compared to a loss of RMB 6,864,000 in the prior year[7] - The loss attributable to owners of the company for the six months ended December 31, 2018, was approximately RMB 5,371,000, compared to RMB 6,419,000 in the same period of 2017[8] - Basic and diluted loss per share for the six months ended December 31, 2018, was RMB 0.19, compared to RMB 0.20 in the previous year[8] - Gross profit for the six months ended December 31, 2018, was RMB 5,164,000, compared to RMB 2,679,000 in the same period of 2017[7] - The total comprehensive loss for the six months ended December 31, 2018, was RMB 9,972,000, compared to RMB 8,704,000 in the same period of 2017[8] - The company reported a loss of RMB 5,371,000 during the six months ended December 31, 2018, compared to a loss of RMB 6,419,000 for the same period in 2017, showing an improvement of about 16%[12] - The group's adjusted loss before tax for the six months ended December 31, 2018, was RMB 4,464,000, compared to a loss of RMB 6,864,000 for the same period in 2017, indicating an improvement of approximately 34.9%[29] Assets and Equity - Total equity of the group decreased to RMB 180,292,000 as of December 31, 2018, down from RMB 190,264,000[11] - Current assets as of December 31, 2018, totaled RMB 90,524,000, down from RMB 99,175,000 as of June 30, 2018[9] - The net asset value as of December 31, 2018, was RMB 187,551,000, compared to RMB 197,457,000 as of June 30, 2018[11] - As of December 31, 2018, the total equity amounted to RMB 180,292,000, a decrease from RMB 209,667,000 as of December 31, 2017, reflecting a decline of approximately 14%[12] - The group’s total assets as of December 31, 2018, amounted to RMB 217,428,000, a decrease from RMB 225,261,000 as of June 30, 2018[33] - The company's total equity attributable to owners decreased by RMB 8,082,000 to RMB 141,172,000 as of December 31, 2018[78] Cash Flow - The net cash flow from operating activities for the six months ended December 31, 2018, was a negative RMB 3,563,000, compared to a negative RMB 980,000 for the same period in 2017[14] - The net cash flow used in investing activities was RMB 8,194,000 for the six months ended December 31, 2018, compared to a positive cash flow of RMB 26,000 in the previous year[14] - The cash and cash equivalents decreased to RMB 41,613,000 as of December 31, 2018, down from RMB 42,050,000 at the end of 2017, indicating a reduction of approximately 1%[14] - As of December 31, 2018, the company's cash and cash equivalents were approximately RMB 41,613,000, down from RMB 52,666,000 as of June 30, 2018[78] Segment Performance - The property development and management segment generated revenue of RMB 10,884,000, while the gold mining segment reported a loss of RMB 2,657,000 for the same period[29] - During the period, the property development, leasing, and management services segment recorded a profit of approximately RMB 3,960,000, compared to RMB 820,000 in the same period of 2017[73] - The gold mining segment recorded a loss of approximately RMB 2,657,000, improved from a loss of RMB 3,669,000 in the same period last year[66] Acquisitions and Investments - The company completed the acquisition of assets and liabilities of a property management service company for a cash consideration of RMB 9,000,000 (approximately HKD 10,800,000) on November 1, 2018[52] - The cash outflow from the acquisition, after accounting for cash acquired, was RMB 8,164,000[53] - The company completed the acquisition of the property management business in Xuzhou for a cash consideration of RMB 9,000,000 (approximately HKD 10,800,000) on November 1, 2018[74] Governance and Compliance - The company’s financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards, indicating compliance with local regulations[16] - The group adopted HKFRS 9, which fundamentally changed the accounting treatment for impairment losses on financial assets, but it did not have a significant impact on the group's impairment provisions[24] - The group has changed its accounting policy for revenue recognition in accordance with HKFRS 15, which establishes a five-step model for recognizing revenue from customer contracts[25] - The company has adopted the corporate governance code as per the listing rules, with a noted deviation regarding the roles of the chairman and CEO[108] - The company acknowledges the deviation from the corporate governance code A.2.1, but believes that the current structure enhances operational efficiency[109] Shareholder Information - Major shareholder Mr. Shi Mingyi holds 384,198,376 shares, representing approximately 13.32% of the company’s issued shares[98] - The company has issued a total of 245,179,840 share options, with 243,099,840 options remaining unexercised as of December 31, 2018[96] - The company has no other shareholders holding 5% or more of the issued shares apart from those disclosed[105] - The company’s major shareholder, Chaolian Group Limited, holds 384,198,376 shares, which is 13.32% of the total issued shares[102] Employment and Staff - The company employed 77 staff as of December 31, 2018, compared to 38 in 2017, with total employment costs of approximately RMB 3,277,000[82] Other Information - No interim dividend was declared for the six months ended December 31, 2018, and June 30, 2017[43] - There were no significant events affecting the group after the reporting period[116] - The company confirmed that all directors complied with the standard code regarding securities transactions during the period[110] - There are no significant interests held by directors in competing businesses[111]
京维集团(01195) - 2019 - 中期财报