Financial Performance - The Group recorded revenue of HK$63.5 million for the six months ended 30 June 2021, an increase of 55.6% compared to HK$40.8 million for the same period in 2020[11]. - The overall gross profit decreased to HK$14.6 million, representing a decrease of 1.4% from HK$14.8 million for the six months ended 30 June 2020[20]. - The consolidated net profit for the Period was HK$3.9 million, compared to HK$3.7 million for the six months ended 30 June 2020, reflecting a growth of 5.4%[12]. - Revenue from construction and ancillary services increased by 58.3% to HK$59.2 million for the six months ended 30 June 2021, compared to HK$37.4 million for the same period in 2020[27]. - Revenue from the money lending business amounted to HK$2.4 million, down from HK$3.4 million for the six months ended 30 June 2020[31]. - Consumer goods business revenue accounted for approximately 3% of total revenue, amounting to HK$1.9 million[33]. - The overall performance indicates a positive trend in revenue growth despite challenges in gross profit margins[20]. - For the six months ended June 30, 2021, total revenue was HK$63,506,000, representing a 55.7% increase from HK$40,824,000 in the same period of 2020[4]. - Segment revenue from construction and ancillary services was HK$59,174,000, while financial services contributed HK$2,410,000, and consumer goods business added HK$1,922,000[4]. Business Strategy and Opportunities - The Group explored business opportunities in financial services and consumer goods, contributing HK$2.4 million and HK$1.9 million to revenue respectively for the six months ended 30 June 2021[12]. - The Group's business segments include construction and ancillary services, financial services, and consumer goods business[23]. - The uncertainty in the Hong Kong property market due to COVID-19 may affect demand for construction and ancillary services[13]. - The Group is actively seeking to reduce reliance on the Hong Kong property market by exploring new business opportunities[13]. - The financial services and consumer goods segments are part of the strategy to broaden the revenue and profit base of the Group[13]. - The Group's management is focused on strengthening the revenue basis through diversification into new sectors[12]. - The Group is exploring business opportunities in consumer goods, financial services, and other sectors to broaden its revenue and profit base due to uncertainties in the Hong Kong property market[39]. Financial Position and Assets - As of 30 June 2021, the Group had total cash and bank balances of HK$37.2 million, down from HK$49.2 million as of 31 December 2020[46]. - The Group maintained a current ratio of approximately 5.3 times as of 30 June 2021, compared to approximately 3.9 times as of 31 December 2020[47]. - The Group had net current assets of HK$133.0 million as of 30 June 2021, an increase from HK$118.7 million as of 31 December 2020[47]. - The Group did not have any interest-bearing liabilities as of 30 June 2021, resulting in a gearing ratio of Nil[48]. - Non-current assets increased to HK$97,948,000 as of June 30, 2021, from HK$104,374,000 as of December 31, 2020[65]. - Current assets totaled HK$163,979,000 as of June 30, 2021, compared to HK$159,176,000 at the end of 2020, showing a growth of 3.5%[65]. - Net current assets increased to HK$133,029,000 as of June 30, 2021, from HK$118,726,000 at the end of 2020, reflecting an increase of 12.1%[65]. - The Group reported no pledged assets as of June 30, 2021, remaining unchanged from the previous year[55]. Cash Flow and Expenses - Cash flows from operating activities resulted in a net cash used of HK$10,769,000 for the six months ended June 30, 2021, compared to HK$2,810,000 for the same period in 2020, indicating a significant increase in cash outflow[70]. - The cash and cash equivalents at the end of the period were HK$37,207,000, an increase from HK$28,034,000 at the end of June 2020, representing a growth of approximately 32.5%[73]. - The Company experienced a net cash used in investing activities of HK$1,521,000 for the six months ended June 30, 2021, compared to a net cash generated of HK$25,000 in the same period of 2020[73]. - The Company reported a significant decrease in cash used in financing activities, amounting to HK$427,000 for the six months ended June 30, 2021, compared to HK$2,339,000 in the same period of 2020[73]. - Administrative expenses increased slightly to HK$11.2 million for the six months ended 30 June 2021, compared to HK$11.1 million for the same period in 2020[35]. Shareholder Information - As of June 30, 2021, Mr. HUI Kee Fung holds 149,900,000 shares, representing 24.98% of the issued shares[163]. - Starcross Group Limited and Mr. LEONG Hing Loong Rudoff each hold 52,155,111 shares, accounting for 8.69% of the issued shares[178]. - The company had no related party transactions after April 1, 2021, due to the resignation of Mr. LEONG as a director[157]. - APEL is the beneficial owner of 149,900,000 shares, which is also held by Mr. HUI Kee Fung through Soaring Holdings Limited[172]. - The company recorded no significant new product launches or technological advancements during the reporting period[173]. - The company does not recommend the payment of an interim dividend for the six months ended June 30, 2021, compared to nil for the same period in 2020[168]. Management and Compensation - For the six months ended June 30, 2021, emoluments, salaries, and other benefits for key management personnel totaled HK$2,704,000, a decrease of 33.4% from HK$4,051,000 in 2020[160]. - The total compensation for key management personnel decreased from HK$4,099,000 in 2020 to HK$2,731,000 in 2021, reflecting a reduction of 33.4%[160]. Accounting and Reporting - The Group's financial statements were prepared in accordance with Hong Kong Accounting Standard 34 and the applicable disclosure requirements of the Listing Rules[79]. - The Group's financial statements do not include all information required in annual financial statements and should be read in conjunction with the annual financial statements for the year ended December 31, 2020[80]. - The amendments to HKFRSs applied did not have any significant impact on the Group's unaudited condensed consolidated financial statements[84].
旷逸国际(01683) - 2021 - 中期财报