Financial Performance - Total revenue decreased by approximately 66.8% to HKD 13.3 million for the six months ended June 30, 2021, compared to HKD 40.1 million for the same period in 2020[4] - Gross profit fell by approximately 82.1% to HKD 4.4 million, down from HKD 24.6 million in the previous year[4] - The net loss for the period was HKD 33.1 million, a significant decline of 553.4% compared to a profit of HKD 7.3 million in the prior year[4] - Basic and diluted loss per share was HKD (2.8), compared to earnings of HKD 0.6 per share in the same period last year, representing a decrease of 566.7%[4] - The overall gross profit dropped from approximately HKD 24.6 million to approximately HKD 4.4 million, a decrease of about 82.1%[23] - The overall gross margin declined from approximately 61.3% to approximately 32.9%, a drop of about 28.4%[24] - The group reported a net loss of approximately HKD 33.1 million for the six months ended June 30, 2021, compared to a net profit of approximately HKD 7.3 million for the same period in 2020, representing a significant reversal[31] - Revenue for the six months ended June 30, 2021, was HKD 13,268 thousand, a decrease of 66.9% compared to HKD 40,097 thousand for the same period in 2020[77] - Gross profit for the same period was HKD 4,365 thousand, down 82.2% from HKD 24,566 thousand in 2020[77] - The company reported a net loss attributable to owners of HKD 33,086 thousand for the six months ended June 30, 2021, compared to a profit of HKD 7,292 thousand in 2020[77] Assets and Liabilities - Total assets as of June 30, 2021, were HKD 133.4 million, a decrease of 4.4% from HKD 139.5 million as of December 31, 2020[4] - Total liabilities increased to HKD 51,305 thousand as of June 30, 2021, compared to HKD 25,595 thousand at the end of 2020[83] - The company's equity attributable to owners decreased to HKD 82,123 thousand as of June 30, 2021, from HKD 113,865 thousand at the end of 2020[83] - The group’s net current assets decreased to approximately HKD 40.1 million as of June 30, 2021, from approximately HKD 72.7 million as of December 31, 2020[35] - The debt-to-asset ratio increased to 5.1% from 2.3%[4] - The debt-to-equity ratio increased to approximately 5.1% as of June 30, 2021, from about 2.3% as of December 31, 2020, primarily due to an increase in government loans[34] Revenue Segments - The ticket distribution segment's revenue decreased by approximately 85.1% to HKD 3.0 million, down from HKD 20.1 million in the previous year[11] - Travel business process management revenue decreased by approximately HKD 8.3 million or about 44.6%, from approximately HKD 18.6 million to approximately HKD 10.3 million[20] - Ticket distribution revenue fell by approximately HKD 17.1 million or about 85.1%, from approximately HKD 20.1 million to approximately HKD 3.0 million for the same periods[19] - Revenue from external customers for the ticket distribution segment was HKD 2,989 thousand, while the travel business process management segment generated HKD 10,274 thousand, totaling HKD 13,268 thousand in revenue[107] Cash Flow and Financing - Cash generated from operating activities was approximately HKD 3.4 million for the six months ended June 30, 2021, compared to cash used of approximately HKD 14.7 million for the same period in 2020[33] - The group's cash and cash equivalents increased by approximately 35.2% to approximately HKD 40.7 million as of June 30, 2021, from approximately HKD 30.1 million as of December 31, 2020[33] - Operating cash flow for the six months ended June 30, 2021, was HKD 3,534 thousand, a significant improvement from a cash outflow of HKD 19,821 thousand in the same period of 2020[89] - Net cash generated from investing activities was HKD 5,879 thousand, compared to only HKD 44 thousand in the prior year, indicating a strong recovery in investment performance[89] - The company received government loan proceeds of HKD 1,557 thousand, contributing to its financing activities[89] Cost Management - Selling expenses decreased by approximately HKD 2.3 million or about 37.7%, from approximately HKD 6.1 million to approximately HKD 3.8 million[29] - Administrative expenses slightly decreased by approximately HKD 0.7 million or about 3.2%, from approximately HKD 21.9 million to approximately HKD 21.2 million[30] - Total employee costs for the six months ended June 30, 2021, were approximately HKD 21.2 million, down from approximately HKD 29.4 million for the same period in 2020[43] - The company recognized an expected credit loss provision of HKD (25,871) thousand during the period, indicating significant financial challenges[77] Corporate Governance and Compliance - The company has complied with the corporate governance code, except for the deviation regarding the roles of the chairman and CEO being held by the same individual[61] - The audit committee reviewed the interim financial results for the six months ended June 30, 2021, and confirmed that they were prepared in accordance with applicable accounting standards[64] - The company continues to operate under the regulations of various industry bodies, ensuring compliance with operational standards[93] Shareholder Information - The company did not declare an interim dividend for the six months ending June 30, 2021[58] - The company has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2021[44] - As of June 30, 2021, the company had a total of 900,000,000 shares held by Tomorrow Education Holdings Limited, representing 75.0% of the company's equity[71] - The company’s board members and key executives held significant interests in the company, with Ms. Zhu Bi Fang owning 540,000,000 shares (45.0%), Ms. Zhu Shu Fang owning 270,000,000 shares (22.5%), and Dr. Zhu Guo Jun owning 90,000,000 shares (7.5%) as of June 30, 2021[66]
富盈环球集团(01620) - 2021 - 中期财报