Financial Performance - For the three months ended June 30, 2021, the company reported revenue of HKD 14,315,000, compared to HKD 2,121,000 for the same period in 2020, representing a significant increase[5]. - The gross profit for the six months ended June 30, 2021, was HKD 5,663,000, up from HKD 2,933,000 in the same period of 2020, indicating a growth of 93.5%[5]. - The company recorded a loss before tax of HKD 16,101,000 for the three months ended June 30, 2021, compared to a loss of HKD 5,797,000 in the same period of 2020[5]. - Total comprehensive loss for the six months ended June 30, 2021, was HKD 24,347,000, compared to HKD 13,691,000 for the same period in 2020, reflecting an increase in losses[7]. - The company reported a pre-tax loss of HKD 24,327,000 for the six months ended June 30, 2021, compared to a loss of HKD 13,279,000 for the same period in 2020, reflecting an increase in losses of 83.5%[13]. - The company reported a loss attributable to owners of HKD 23,879,000 for the six months ended June 30, 2021, compared to a loss of HKD 13,137,000 for the same period in 2020, an increase of 81.5%[11]. - The loss for the six months ended June 30, 2021, was approximately HKD 24,707,000, compared to a loss of HKD 13,302,000 for the same period in 2020[50]. Assets and Liabilities - Non-current assets as of June 30, 2021, totaled HKD 41,107,000, an increase from HKD 39,219,000 as of December 31, 2020[8]. - Current assets increased to HKD 82,190,000 as of June 30, 2021, compared to HKD 79,716,000 as of December 31, 2020[8]. - The company reported a net current asset value of HKD 47,080,000 as of June 30, 2021, down from HKD 48,166,000 as of December 31, 2020[8]. - The total assets less current liabilities amounted to HKD 88,187,000 as of June 30, 2021, compared to HKD 87,385,000 as of December 31, 2020[8]. - Non-current liabilities increased to HKD 39,153,000 as of June 30, 2021, compared to HKD 24,394,000 as of December 31, 2020, representing a growth of 60.5%[10]. - The company's net asset value decreased to HKD 49,034,000 as of June 30, 2021, down from HKD 62,991,000 as of December 31, 2020, a decline of 22.2%[10]. - The asset-liability ratio as of June 30, 2021, was 162%, up from 91.2% as of December 31, 2020, indicating an increase in leverage[56]. Cash Flow and Expenditures - Cash and cash equivalents decreased to HKD 13,474,000 as of June 30, 2021, from HKD 29,384,000 at the end of the previous year, a reduction of 54.3%[14]. - Operating cash flow showed a net outflow of HKD 26,654,000 for the six months ended June 30, 2021, compared to an inflow of HKD 11,911,000 in the previous year[13]. - The company invested HKD 8,613,000 in property, plant, and equipment during the six months ended June 30, 2021, compared to HKD 375,000 in the same period of 2020, indicating a significant increase in capital expenditure[13]. - The financing activities generated a net cash inflow of HKD 14,344,000 for the six months ended June 30, 2021, compared to an outflow of HKD 1,185,000 in the previous year[14]. Revenue Segmentation - Media and entertainment segment revenue was HKD 17,150,000, while the cremation and funeral services segment generated HKD 7,117,000, totaling HKD 24,267,000 for the six months ended June 30, 2021[20]. - The media and entertainment segment recorded revenue of approximately HKD 17,150,000 for the six months ended June 30, 2021, an increase of 1,693.9% compared to approximately HKD 956,000 in the same period last year, primarily due to ticket sales from exhibitions and concerts[52]. - The cremation and funeral services business generated revenue of approximately HKD 7,117,000, up 38.9% from approximately HKD 5,124,000 in the same period last year, influenced by a decline in value-added funeral services revenue due to COVID-19 restrictions[52]. Expenses - Employee benefit expenses increased to HKD 8,803,000 from HKD 6,215,000 in the previous year[34]. - Sales, marketing, and distribution expenses for the six months ended June 30, 2021, were approximately HKD 2,482,000, up 19% from HKD 2,086,000 in the previous year, accounting for 10.2% of revenue[48]. - General, administrative, and other expenses for the same period were approximately HKD 27,178,000, an increase of 80.8% from HKD 15,030,000 last year[49]. - The segment loss for cremation and funeral services was HKD 297,000, while the media and entertainment segment incurred a loss of HKD (8,273,000)[21]. Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors, ensuring expertise in accounting and financial management[79]. - The audit committee's main responsibilities include reviewing the group's financial controls, internal control, and risk management systems, as well as monitoring the integrity of consolidated financial statements[79]. - The company has complied with all provisions of the corporate governance code as stipulated in the GEM Listing Rules during the six months ended June 30, 2021[78]. - The board of directors includes two executive directors and three independent non-executive directors as of the report date[80]. Shareholder Information - The total number of shares held by major shareholders includes 431,346,823 shares held by Mr. Zhou, representing 34.49% of the issued share capital[70]. - Mr. Tang holds 287,549,682 shares, accounting for 22.99% of the issued share capital[70]. - New Brilliant Investments Limited holds 98,472,498 shares, which is 7.87% of the issued share capital[70]. - As of June 30, 2021, 1,500,000 stock options had expired[66]. - No shares were awarded under the Share Award Scheme for the six months ended June 30, 2021[68].
擎华控股(08082) - 2021 - 中期财报