Financial Performance - The consolidated revenue for the six months ended June 30, 2021, was approximately HKD 212,940,000, a decrease of about 41.5% compared to HKD 363,744,000 in 2020, primarily due to a significant reduction in third-party payment services[10]. - Revenue from big data services amounted to approximately HKD 18,218,000 for the six months ended June 30, 2021, compared to none in 2020[10]. - Revenue from third-party payment services was approximately HKD 3,254,000, down approximately 98.6% from HKD 230,614,000 in 2020[19]. - The loss attributable to owners of the company increased to approximately HKD 159,363,000 for the six months ended June 30, 2021, compared to HKD 36,172,000 in 2020[10]. - The net loss for the six months ended June 30, 2021, was HKD 516,841,000, significantly higher than the loss of HKD 19,751,000 in 2020[126]. - Basic and diluted loss per share for the period was HKD 23.15, compared to HKD 5.42 in the previous year[122]. - Gross profit for the same period was HKD 53,743,000, down 37.9% from HKD 86,479,000 in 2020[122]. - The group reported a profit from its associate company of approximately HKD 18,499,000 for the six months ended June 30, 2021, compared to HKD 3,963,000 in 2020, due to the termination of low-margin products[25]. Dividends and Shareholder Actions - The company did not declare or recommend an interim dividend for the six months ended June 30, 2021[12]. - The company did not declare or pay any dividends for the six months ended June 30, 2021, consistent with the same period in 2020[188]. - The company must seek shareholder approval if the total stock options granted exceed 1% of the issued shares[87]. Acquisitions and Investments - The acquisition of LYGR was completed on June 2, 2021, with the company purchasing 7,172 shares at an issue price of HKD 1.35 per share, resulting in a total issuance of 69,106,895 new ordinary shares[16]. - LYGR contributed approximately HKD 18,218,000 in revenue and approximately HKD 8,077,000 in profit for the big data services category for the six months ended June 30, 2021[16]. - The company completed the acquisition of an additional 23.33% interest in LYGR for approximately HKD 93,294,000, increasing its ownership to 54.22%[190]. - The group has invested approximately HKD 50.5 million in its new manufacturing facility in Vietnam as of June 30, 2021, with a total expected investment of VND 149,986 million[25]. Financial Position and Assets - The net asset value per share as of June 30, 2021, was HKD 0.3, unchanged from December 31, 2020[11]. - As of June 30, 2021, the group's total non-current assets amounted to approximately HKD 799,353,000, a decrease from HKD 1,104,740,000 as of December 31, 2020[41]. - Total assets as of June 30, 2021, were HKD 1,014,751,000, slightly up from HKD 998,439,000 at the end of 2020[134]. - The company's equity attributable to owners was HKD 232,215,000, down from HKD 379,437,000 at the end of 2020[134]. - The group’s total liabilities as of June 30, 2021, were approximately HKD 760,419,000, up from HKD 695,749,000 as of December 31, 2020[42]. - The debt-to-equity ratio was approximately 124.3% as of June 30, 2021, compared to 82.7% as of December 31, 2020[43]. - The current ratio was approximately 0.9 times as of June 30, 2021, down from 1.1 times as of December 31, 2020[43]. Operational Segments - The group reported total external revenue of HKD 212,940,000 for the six months ended June 30, 2021, with contributions from big data services (HKD 18,218,000), third-party payment services (HKD 3,254,000), and coatings (HKD 191,468,000)[159]. - The coatings segment generated sales of HKD 191,468,000, with liquid coatings contributing HKD 176,234,000 and powder coatings contributing HKD 15,234,000[159]. - The group has begun engaging in big data services since the step acquisition of Lian Yang Guo Rong Holdings Limited on June 2, 2021[155]. - The group’s revenue classification has been updated to reflect the new operational segments, including big data services, third-party payment services, and coatings[155]. Impairment and Losses - The group recognized an impairment loss of approximately HKD 631,594,000 for other intangible assets for the six months ended June 30, 2021, compared to no impairment in 2020[20]. - The company reported a significant impairment loss of HKD 631,594,000 on intangible assets during the period[122]. - The group incurred a loss of HKD 516,841,000 for the same period, with a significant loss in the third-party payment services segment amounting to HKD 657,993,000[159]. Cash Flow and Financing - The company reported a net cash outflow from operating activities of HKD 31,482,000 for the six months ended June 30, 2021, compared to HKD 160,157,000 for the same period in 2020[147]. - The company’s cash flow from financing activities showed a net inflow of HKD 27,018,000, compared to an outflow of HKD 84,197,000 in the previous year[147]. - The group’s financing costs decreased to approximately HKD 22,677,000 for the six months ended June 30, 2021, down from HKD 26,346,000 in 2020, mainly due to a reduction in the balance of acceptance bills[27]. Corporate Governance and Compliance - The company has complied with the corporate governance code as of June 30, 2021, except for a specific provision[112]. - The company has adopted the standard code of conduct for securities trading by directors, confirming compliance for the six months ended June 30, 2021[121]. - The company is required to comply with the People's Bank of China regulations regarding reserve funds for third-party payment accounts[197].
联洋智能控股(01561) - 2021 - 中期财报