Financial Performance - The company recorded revenue of approximately RMB 37.8 million for the six months ended December 31, 2018, representing a growth of 13.4% compared to the same period in 2017[9]. - Profit attributable to owners of the company for the six months ended December 31, 2018, was approximately RMB 16.9 million, an increase of 14.9% year-on-year[9]. - Basic earnings per share for the six months ended December 31, 2018, was RMB 0.09, compared to RMB 0.08 for the same period in 2017[9]. - Operating profit for the six months ended December 31, 2018, was RMB 19.8 million, up from RMB 17.9 million in the same period of 2017[10]. - The company reported a net profit of RMB 17.1 million for the six months ended December 31, 2018, compared to RMB 14.9 million for the same period in 2017[10]. - Total revenue for the three months ended December 31, 2018, was RMB 19.6 million, compared to RMB 14.9 million for the same period in 2017[10]. - The company’s total comprehensive income for the period was RMB 24,771 thousand, compared to RMB 14,876 thousand in the previous period, representing an increase of approximately 66.4%[19]. - Revenue from educational facility leasing was RMB 35,887,000, an increase of 20.0% compared to RMB 29,798,000 for the same period in 2017[38]. - Revenue from commercial leasing of supporting facilities for the six months ended December 31, 2018, was RMB 1,867,000, a decrease of 46.5% compared to RMB 3,496,000 for the same period in 2017[38]. - Revenue from external customers for the three months ended December 31, 2018, was RMB 15,328,000, an increase of 7.5% compared to RMB 14,258,000 for the same period in 2017[39]. - For the six months ended December 31, 2018, revenue was RMB 30,592,000, representing a growth of 7.5% from RMB 28,462,000 in the same period of 2017[39]. Dividends and Shareholder Information - The board declared an interim dividend of HKD 0.05 per share, equivalent to approximately RMB 0.044 per share, consistent with the previous year[9]. - The company declared an interim dividend of HKD 0.05 per share, an increase from HKD 0.04 per share in 2017[100]. - The controlling shareholder, Raffles, holds a 75% stake in the company as of December 31, 2018[107]. - Raffles, owned by Chairman and Executive Director Mr. Zhou, has a total of 135,000,000 shares, representing 75% of the issued shares[109]. - Mr. Zhou also has a beneficial interest in Raffles, which holds 462,907,764 shares, accounting for 33.58% of Raffles[108]. Assets and Liabilities - Total assets decreased from RMB 1,335,600 thousand as of December 31, 2018, to RMB 1,299,509 thousand as of June 30, 2019, representing a decline of approximately 2.7%[15]. - Non-current assets slightly decreased from RMB 1,272,298 thousand to RMB 1,267,581 thousand, a reduction of about 0.4%[15]. - Current assets saw a significant drop from RMB 63,302 thousand to RMB 31,928 thousand, a decrease of approximately 49.6%[15]. - Total liabilities increased from RMB 175,968 thousand to RMB 176,863 thousand, indicating a marginal rise of about 0.5%[17]. - Net assets decreased from RMB 1,159,632 thousand to RMB 1,149,646 thousand, reflecting a decline of approximately 0.9%[17]. - Cash and cash equivalents increased from RMB 26,562 thousand to RMB 39,460 thousand, an increase of about 48.5%[21]. - The total trade and other receivables as of December 31, 2018, amounted to RMB 23,842,000, significantly higher than RMB 5,366,000 as of June 30, 2018, indicating a substantial increase of 344.5%[63]. - Trade payables as of December 31, 2018, were RMB 3,136,000, slightly up from RMB 3,001,000 as of June 30, 2018, indicating a modest increase of 4.5%[68]. - The net amount of other receivables increased to RMB 7,575,000 as of December 31, 2018, from RMB 5,161,000 as of June 30, 2018, representing a growth of 46.7%[63]. - The total value of investment properties as of December 31, 2018, was RMB 1,158,001,000, reflecting a slight increase from RMB 1,155,987,000 at the beginning of the period[58]. Cash Flow and Expenses - Operating cash flow before tax profit increased from RMB 20,019 thousand to RMB 19,508 thousand, a slight increase of about 2.5%[21]. - The company reported a net cash inflow from operating activities of RMB 32,855 thousand, compared to RMB 32,323 thousand in the previous period, an increase of approximately 1.6%[21]. - The company paid dividends amounting to RMB 17,869 thousand during the period[21]. - Employee costs rose by 7.7% from RMB 1.2 million in 2017 to RMB 1.3 million in the current period due to increased social benefits and annual salary reviews[79]. - The income tax expense for the six months ended December 31, 2018, was RMB 2,921,000, up from RMB 1,735,000 for the same period in 2017, reflecting a 68.5% increase[45]. - The company incurred employee costs of RMB 1.3 million for the six months ended December 31, 2018, compared to RMB 1.2 million in the same period of 2017[10]. - The company reported a depreciation expense of RMB 163,000 for property and equipment during the six months ended December 31, 2018[58]. Governance and Compliance - The unaudited interim financial statements have been reviewed by the audit committee, and the independent auditor has issued a report without any reservations[25]. - The independent auditor's report did not highlight any matters that require attention under the Companies Ordinance[25]. - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and practices adopted by the group and deemed the interim results to be prepared in accordance with applicable accounting standards[114]. - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15[103]. - The company has adopted trading standards for directors as per GEM Listing Rules[106]. - The stock option plan was adopted conditionally, allowing full-time employees and directors to be granted options to subscribe for shares, but no options were granted during the reporting period[111]. - There were no significant interests held by directors in any important transactions, arrangements, or contracts related to the group's business during the period[112]. Future Plans and Investments - The company has committed to purchasing educational land in Langfang, Hebei Province, for a total consideration of RMB 252,370,000[73]. - The company approved a major related party transaction involving the purchase of educational land in Langfang, Hebei, for RMB 252,370,000[51]. - A new lease agreement was established for a three-year term starting January 1, 2019, with Raffles College, following the expiration of the previous lease[52]. - The company has no significant investments or capital commitments as of December 31, 2018, and no future plans for major investments or capital asset purchases[91]. - The company raised approximately HKD 75.3 million from the placement of 45,000,000 shares at HKD 2.64 per share[98]. - The funds will be used to construct new dormitories at the campus located in Langfang Economic and Technological Development Zone, Hebei Province, China[98]. - As of December 31, 2018, approximately HKD 10.1 million has been spent on the construction of the new dormitories[98].
东方大学城控股(08067) - 2019 - 中期财报