Financial Performance - For the six months ended September 30, 2019, the group recorded revenue of approximately HKD 126.8 million, a decrease of about 19.0% compared to HKD 156.6 million for the same period in 2018[16] - The loss attributable to owners of the company increased to approximately HKD 296.8 million for the six months ended September 30, 2019, compared to HKD 60.4 million for the same period in 2018[16] - The loss for the six months ended September 30, 2019, was HKD 315,498,000, compared to a loss of HKD 46,612,000 for the same period in 2018, representing a significant increase in losses[20] - Total comprehensive loss for the six months ended September 30, 2019, was HKD 337,004,000, compared to HKD 66,375,000 for the same period in 2018[23] - The company reported a basic loss per share of HKD 5.20 for the three months ended September 30, 2019, compared to HKD 1.00 for the same period in 2018[20] - The company reported a loss before tax of HKD 84,728,000, with a tax credit of HKD 231,000[44] - The net loss attributable to the company's owners was HKD 76,469,000, while non-controlling interests reported a loss of HKD 8,028,000[44] Revenue Breakdown - For the six months ended September 30, 2019, the company reported revenue from alcoholic beverage sales of HKD 68,095,000[42] - Alcoholic beverage sales for the three months ended September 30, 2019, were HKD 18,008,000, down 40.8% from HKD 30,478,000 in the same period of 2018[19] - Blockchain services revenue increased to HKD 11,598,000 for the three months ended September 30, 2019, compared to HKD 3,125,000 in the same period of 2018, marking a growth of 270.4%[19] - Blockchain services revenue significantly increased to HKD 30,135,000 for the six months ended September 30, 2019, compared to HKD 3,125,000 in the same period of 2018[97] - Loan referral service income for the six months ended September 30, 2019, was HKD 5,340,000, down 81% from HKD 27,837,000 in the same period of 2018[97] - The financial services segment generated HKD 71,000 in financial advisory service income for the three months ended September 30, 2019, compared to HKD 1,202,000 in the same period of 2018[97] Dividends and Shareholder Returns - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2019[16] - The company did not declare or propose any dividends for the six months ended September 30, 2019, consistent with the same period in 2018[126] Assets and Liabilities - Non-current assets decreased to HKD 379,320,000 as of September 30, 2019, from HKD 660,497,000 as of March 31, 2019[25] - The company's total equity as of September 30, 2019, was HKD 127,485 thousand, down from HKD 462,191 thousand as of March 31, 2019, reflecting a decrease of 72.5%[28] - The total assets less current liabilities decreased to HKD 432,156 thousand from HKD 736,895 thousand, indicating a decline of 41.3%[28] - The company's total liabilities as of September 30, 2019, were HKD 304,671 thousand, compared to HKD 274,704 thousand as of March 31, 2019, indicating an increase of 10.5%[28] - Total assets as of September 30, 2019, amounted to HKD 1,156,360 thousand, down from HKD 1,536,880 thousand as of March 31, 2019[108] Cash Flow and Financing - The net cash generated from operating activities for the six months ended September 30, 2019, was HKD 81,866 thousand, a significant improvement compared to a net cash outflow of HKD 170,394 thousand for the same period in 2018[36] - The financing activities resulted in a net cash outflow of HKD 99,361 thousand for the six months ended September 30, 2019, compared to a net cash inflow of HKD 281,356 thousand in the same period of 2018[36] - The company reported a significant increase in financing costs, which rose to HKD 28,695,000 for the six months ended September 30, 2019, compared to HKD 15,447,000 for the same period in 2018[19] - The company’s total borrowings increased to HKD 10,903,000 for the six months ended September 30, 2019, compared to HKD 5,291,000 in the same period of 2018, reflecting a significant rise of 106.5%[7] Accounting Policies and Standards - The company has adopted a new presentation method for its income statement, focusing on the nature of expenses rather than their function, to better reflect its performance in blockchain and loan financing sectors[66] - The adoption of Hong Kong Financial Reporting Standard 16 resulted in the recognition of right-of-use assets and lease liabilities amounting to approximately HKD 12,557,000 as of April 1, 2019[78] - The transition to HKFRS 16 did not have a significant impact on the financial performance and position of the company during the reporting period[71] Impairments and Losses - The company incurred a loss of HKD 21,760,000 related to impairment of property and equipment used in the blockchain services segment due to a decline in cryptocurrency market prices[130] - The goodwill impairment loss recognized for the acquisition of Diginex HPC was approximately HKD 257,440,000 due to underperformance in the cryptocurrency mining business[168] Loans and Receivables - The total loans receivable decreased to HKD 376,929,000 from HKD 458,140,000, reflecting a decline of 17.8%[157] - The provision for loan receivables increased to HKD 40,729,000 from HKD 33,076,000, indicating a rise of 23.1%[157] - The aging analysis of trade receivables showed that receivables over 365 days amounted to HKD 182,435,000, slightly down from HKD 186,595,000[159] Legal Matters - The company announced a lawsuit against Diginex Global and the management company for unauthorized sale of cryptocurrency mining equipment, which is not expected to have a significant adverse impact on the group's operations or financial condition[131]
麦迪森控股(08057) - 2020 - 中期财报