Financial Performance - For the six months ended June 30, 2021, the revenue from continuing operations was approximately HKD 123.2 million, a decrease of about HKD 64.2 million or 34.3% compared to the same period in 2020[27]. - The profit attributable to owners of the company from continuing operations was approximately HKD 70.3 million, compared to a loss of HKD 99.8 million for the same period in 2020[27]. - The profit from discontinued operations was approximately HKD 5.1 million, an increase of about HKD 4.6 million or 874.8% compared to the same period in 2020[27]. - The gross loss for the six months ended June 30, 2021, was HKD 11.4 million, a reduction of 45.2% from HKD 20.9 million in the same period in 2020[27]. - The company reported a pre-tax profit of HKD 71.6 million for the period, compared to a pre-tax loss of HKD 169.5 million in the same period in 2020[33]. - The total comprehensive income for the period was HKD 57.9 million, compared to a total comprehensive loss of HKD 158.5 million in the same period in 2020[33]. - The profit attributable to the company's owners for the six months ended June 30, 2021, was HKD 75,423,000, compared to a loss of HKD 99,250,000 in the same period of 2020, representing a significant turnaround[35]. - Basic earnings per share from continuing operations was HKD 5.3, compared to a loss of HKD 7.5 in the previous year, indicating improved profitability[35]. - The company reported a total comprehensive income of HKD 57,857,000 for the period, compared to a total comprehensive loss of HKD 158,549,000 in the prior year[35]. Operational Efficiency - The company continues to focus on improving operational efficiency and exploring new market opportunities[27]. - The administrative expenses for the period were HKD 921,000, a decrease from HKD 132.9 million in the same period in 2020[33]. - The company plans to continue focusing on market expansion and new product development to sustain growth momentum in the upcoming periods[41]. Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 267,913,000, while total liabilities were HKD 183,000,000, resulting in a net asset position of HKD 84,913,000[39]. - Non-current liabilities increased to HKD 3,010,000 from HKD 1,570,000 year-over-year, primarily due to higher lease liabilities[40]. - The company’s equity attributable to owners increased to HKD 84,970,000 from HKD 2,316,000, reflecting a strong recovery in financial performance[40]. - The company’s total liabilities to total assets ratio improved, indicating a stronger balance sheet and reduced financial risk[39]. - The company’s total liabilities decreased significantly, reflecting a strategic focus on reducing debt and improving liquidity[54]. Cash Flow - Cash and cash equivalents as of June 30, 2021, were HKD 26,277,000, contributing to a healthy liquidity position[39]. - The net cash used in operating activities was HKD (19,482) thousand, a significant decrease from HKD (116,736) thousand in the previous period[51]. - The net cash generated from investing activities was HKD 27,787 thousand, compared to HKD 44,811 thousand in the previous period[53]. - The cash and cash equivalents increased by HKD 2,826 thousand, contrasting with a decrease of HKD (121,013) thousand in the previous period[53]. - The company’s financing activities resulted in a net cash inflow of HKD 26,277 thousand, compared to a net outflow of HKD (5,479) thousand in the previous period[53]. Receivables and Payables - The company reported a decrease in trade receivables and other receivables by HKD 11,177 thousand, while trade payables and other payables decreased by HKD (11,760) thousand[51]. - Trade receivables as of June 30, 2021, amounted to HKD 41,443,000, a decrease of 40.3% from HKD 69,372,000 as of December 31, 2020[170]. - The expected credit loss provision for trade receivables was HKD 2,151,000, significantly lower than HKD 292,513,000 in the previous year[170]. - The total amount of trade payables as of June 30, 2021, was HKD 15,580,000, a decrease from HKD 36,405,000 as of December 31, 2020[180]. - The company reported a significant reduction in expected credit loss provisions across various receivables, indicating improved credit risk management[170]. Dividends and Shareholder Returns - The board of directors did not recommend the payment of any interim dividend for the period[27]. - The company did not declare any dividends for the interim period, consistent with the previous year[145]. Discontinued Operations - The company has terminated its construction consulting services and sold several subsidiaries engaged in financial information and technology services during the reporting period[54]. - The company recorded a significant reduction in losses from discontinued operations, with a profit of HKD 5,147,000 compared to a loss of HKD 528,000 in the previous year[35]. - The company reported a profit from discontinued operations of HKD 5,147 thousand, compared to HKD 528 thousand in the previous year, representing an increase of approximately 876%[148]. Employee Costs - The company’s total employee costs amounted to HKD 28,801,000 for the six months ended June 30, 2021, down from HKD 46,027,000 in the previous year[118]. - The total employee costs amounted to HKD 2,107 thousand, a decrease from HKD 13,571 thousand, reflecting a reduction of approximately 84%[125].
丰展控股(01826) - 2021 - 中期财报