新意网集团(01686) - 2021 - 中期财报

Financial Performance - Revenue from continuing operations increased by 13% year-on-year to HKD 923 million for the period ending December 31, 2020[7]. - EBITDA rose by 17% year-on-year to HKD 662 million for the same period[6]. - Basic profit attributable to shareholders increased by 16% year-on-year to HKD 389 million[6]. - Operating profit for the period was HKD 470 million, compared to HKD 401 million in the same period last year[5]. - Total revenue for the first half of the fiscal year was HKD 923 million, up from HKD 819 million in the previous year[6]. - The group's revenue from continuing operations increased by 13% year-on-year to HKD 923 million, driven by the expansion of hyperscale and cloud customers in the data center business[15]. - Operating profit from continuing operations rose by 17% year-on-year to HKD 470 million, with EBITDA increasing by 17% to HKD 662 million, resulting in an EBITDA margin improvement from 69% to 72%[15]. - Profit before tax was HKD 459,396,000, compared to HKD 380,560,000 in the prior period, reflecting a growth of 20.7%[46]. - Profit attributable to shareholders from continuing operations was HKD 388,661,000, up from HKD 320,812,000, marking a 21.1% increase[46]. - Basic earnings per share from continuing operations was HKD 0.0959, compared to HKD 0.0793 for the same period last year, an increase of 21.0%[46]. - Total comprehensive income for the period was HKD 388,631,000, slightly down from HKD 409,173,000 in 2019[49]. Data Center Business - The data center business experienced strong growth driven by increased demand for network connectivity and cloud services during the COVID-19 pandemic[8]. - MEGA-i data center has become a major hub for network connectivity in Asia, with significant demand from digital industry companies[8]. - The company has established strong relationships with leading cloud service providers, anticipating further growth as cloud applications develop[8]. - The company is focused on high-quality data center services for enterprise and cloud customers, expecting continued demand post-pandemic[8]. - The total floor area of the group's data centers will increase by 100% from 1.4 million square feet to 2.8 million square feet following the completion of new projects in Tsuen Wan and Tseung Kwan O[10][12]. - The group's total power capacity will increase by 200% from approximately 70 MW to over 200 MW, addressing the growing demand for power capacity from customers[10][12]. - The MEGA-i data center's power capacity has been increased by 40% following optimization works, enhancing the group's network connectivity business growth potential[12]. - The group is actively expanding its floor space and power capacity to meet the increasing demand for data center services driven by digitalization and the rollout of 5G applications[10][12]. Financial Position - The group held cash of HKD 303 million as of December 31, 2020, with long-term bank loans amounting to HKD 7.184 billion, resulting in net bank loans of approximately HKD 6.881 billion, a 27% increase from HKD 5.414 billion on June 30, 2020[17]. - The debt ratio as of December 31, 2020, was 254%; excluding the HKD 3.3 billion long-term unsecured shareholder loan from Sun Hung Kai Properties, the ratio would be 171%[17]. - The company's total equity as of December 31, 2020, was HKD 4,029,484, down from HKD 4,325,223 as of June 30, 2020, indicating a decrease of about 6.8%[51]. - The company’s retained earnings increased by HKD 1,225,715 during the period, contributing to the overall equity position[51]. - The company reported a net cash outflow from investing activities of HKD 1,255,295, which is a significant increase from HKD 878,854 in the previous year, indicating a rise of approximately 43%[54]. - The company reported a profit of HKD 388,661 for the six months ended December 31, 2020, compared to HKD 409,738 for the same period in 2019, reflecting a decrease of about 5.1%[51]. - The non-current assets, including property, machinery, and equipment, increased to HKD 15,330,871 from HKD 14,422,719, marking an increase of approximately 6.3%[50]. - The company’s total liabilities decreased to HKD 10,804,430 from HKD 9,401,288, indicating a rise of approximately 14.9%[50]. Employee and Management Compensation - The group employed 387 full-time employees as of December 31, 2020, emphasizing employee health and safety measures in response to the COVID-19 pandemic[18]. - The company incurred total employee compensation of 103,570,000 HKD, an increase from 89,644,000 HKD in 2019, indicating an increase of about 15%[68]. - The total remuneration for key management personnel was HKD 8,004,000 for the period, down 13.1% from HKD 9,208,000 in 2019[104]. - Mr. Fung received HKD 52,500 as remuneration for serving as Vice Chairman and a member of the Board's remuneration and corporate governance committees for the fiscal year ending June 30, 2020[21]. - Mr. Tong, the CEO, received approximately HKD 9,245,000 in total compensation, including HKD 52,500 as director's fee for the fiscal year ending June 30, 2020[22]. - Mr. Chen, as the Executive Director and COO, receives an annual director's fee of HKD 45,000 and a fixed cash remuneration of HKD 2,770,000[25]. - Ms. Liu, as the Executive Director and Business Director, receives an annual director's fee of HKD 45,000 and a fixed cash remuneration of HKD 2,660,000[26]. Corporate Governance and Compliance - The interim results for the six months ending December 31, 2020, were unaudited but reviewed by Deloitte, confirming compliance with Hong Kong accounting standards[126]. - The audit committee consists of four members, including three independent non-executive directors, ensuring adherence to corporate governance codes[127]. - The company confirmed full compliance with the corporate governance code during the six-month period, except for the absence of the chairman at the annual general meeting[129]. - No arrangements were made for directors to benefit from the subscription of shares or bonds during the six-month period ending December 31, 2020[122]. Acquisitions and Disposals - The company completed the acquisition of Branhall Investments Limited for a total consideration of HKD 2,242,534,000, primarily engaged in property investment[89]. - The company also acquired STT Limited for HKD 65,000,000, with non-current assets including property, plant, and equipment valued at HKD 64,691[93]. - The company sold Riderstrack Development Limited for HKD 1,053,568,000, with the main asset being investment properties located in Hong Kong[96]. - The sale of Multi-well Investments Limited generated HKD 754,451,000, also involving investment properties[96]. - The total net assets of the sold subsidiaries amounted to HKD 1,808,019,000, with a loss on sale of HKD 1,100,000[101]. Market and Business Development - The group is actively pursuing new business development and market expansion strategies in response to changing customer and market conditions[16]. - The company has not disclosed any new product developments or market expansion strategies in the current report[46]. - There were no significant mergers or acquisitions reported during the period[46].