Financial Performance - The Company reported a loss attributable to owners of approximately HK$996,000 for the six months ended 30 June 2021, a significant improvement compared to a loss of approximately HK$16,756,000 in the same period last year[9]. - Revenue from continuing operations was approximately HK$81,087,000 for the Period, representing an increase of approximately HK$21,978,000 compared to HK$59,109,000 in the same period last year, reflecting a growth of approximately 37.2%[9]. - Gross profit from continuing operations for the Period was approximately HK$53,513,000, compared to HK$38,927,000 in the same period last year, indicating an increase of approximately 37.4%[9]. - The total revenue for the six months ended 30 June 2021 was HK$81,087,000, up from HK$59,109,000 in the same period last year, marking a year-over-year increase of approximately 37.2%[14]. - Profit before tax for the six months ended 30 June 2021 was HK$684,000, a recovery from a loss of HK$13,705,000 in the same period last year[14]. - For the three months ended June 30, 2021, the profit from continuing operations was HK$28,000 compared to a loss of HK$3,201,000 in 2020[17]. - For the six months ended June 30, 2021, the profit from continuing operations was HK$996,000, a significant improvement from a loss of HK$13,957,000 in 2020[17]. - The total comprehensive expense for the period attributable to owners of the Company was HK$371,000 for the three months ended June 30, 2021, compared to HK$6,350,000 in 2020[19]. - The total comprehensive expense for the six months ended June 30, 2021, was HK$1,071,000, compared to HK$17,561,000 in 2020[19]. - The basic earnings per share for the three months ended June 30, 2021, was HK$0.02, recovering from a loss of HK$4.16 in 2020[19]. Dividends - The Company did not recommend the payment of any interim dividend for the six months ended 30 June 2021, consistent with the previous year where no dividend was declared[9]. - The Group did not recommend any interim dividend for the six months ended 30 June 2021, compared to nil for the same period in 2020[12]. Expenses and Income - General and administrative expenses increased to approximately HK$66,466,000 for the six months ended 30 June 2021, compared to HK$49,232,000 in the same period last year[14]. - Other income, other gains and losses amounted to approximately HK$6,594,000 for the six months ended 30 June 2021, compared to HK$2,067,000 in the same period last year, reflecting a substantial increase[14]. - Total income tax expense for the six months ended June 30, 2021, was HK$727,000, an increase from HK$303,000 in the same period of 2020[88]. - The company reported a total of HK$2,606,000 in other income for the three months ended June 30, 2021, compared to HK$829,000 in the same period of 2020, indicating a significant increase[79]. Assets and Liabilities - As of June 30, 2021, total assets less current liabilities amounted to HK$126,745,000, a decrease from HK$142,042,000 as of December 31, 2020, representing a decline of approximately 10.8%[22]. - Current assets increased to HK$184,028,000 from HK$171,582,000, reflecting a growth of about 7.8%[21]. - Current liabilities increased to HK$119,720,000 from HK$100,982,000, marking a rise of about 18.5%[21]. - The company's net assets stood at HK$109,078,000, slightly down from HK$110,149,000, reflecting a decrease of about 1%[22]. - The company's cash and cash equivalents were reported at HK$33,878,000, down from HK$35,597,000, a decrease of approximately 4.8%[21]. - The total equity attributable to owners of the company was HK$107,737,000, down from HK$108,766,000, indicating a decline of about 0.95%[22]. Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2021, was HK$17,133,000, an increase of 22.4% compared to HK$13,954,000 in 2020[30]. - Net cash used in investing activities was HK$2,997,000, significantly higher than HK$181,000 in the previous year[30]. - Net cash used in financing activities increased to HK$15,831,000 from HK$13,595,000 in 2020, reflecting a rise of 16.5%[30]. - Cash and cash equivalents at the end of the period stood at HK$33,878,000, compared to HK$30,113,000 at the end of June 2020, marking an increase of 9.2%[30]. Segment Information - The Group's principal business segments include alcoholic beverage distribution, food and beverage, money lending, children education services, financial services, and securities investment[32][33]. - Revenue from external customers for the six months ended June 30, 2021, was HK$81,087,000, an increase from HK$59,109,000 in the same period of 2020, representing a growth of 37.2%[70]. - Revenue from Hong Kong for the six months ended June 30, 2021, was HK$73,466,000, compared to HK$56,690,000 in 2020, reflecting a growth of 29.5%[70]. - Revenue from Singapore increased significantly to HK$7,621,000 for the six months ended June 30, 2021, up from HK$2,419,000 in 2020, marking a growth of 215.5%[70]. Credit and Receivables - The Group maintains strict control over outstanding loans and interest receivables to minimize credit risk[15]. - The ageing analysis of loans and interest receivables shows that HK$10,900,000 were past due as of 30 June 2021, compared to HK$1,566,000 as of 31 December 2020[144]. - The total amount of trade receivables, after accounting for credit losses, was HK$65,399,000 as of June 30, 2021, compared to HK$55,944,000 as of December 31, 2020[162]. - The Group's allowance for credit losses remained stable at HK$4,310,000 as of June 30, 2021, unchanged from December 31, 2020[152]. - The trade receivables from non-financial services business decreased to HK$683,000 as of June 30, 2021, down from HK$8,620,000 as of December 31, 2020[162]. Discontinued Operations - The company completed the disposal of its agricultural business on April 22, 2020, for a total consideration of HK$1,152,000[99]. - The loss for the period from the discontinued operation will be restated to align with the audited results for the year ended December 31, 2020[112]. - The loss for the period attributable to owners from discontinued operations was HK$3,163,000 for the six months ended June 30, 2020, with no loss reported for the same period in 2021[121]. Compliance and Governance - The Company confirmed that the information contained in the report is accurate and complete in all material respects, with no misleading or deceptive statements[6]. - The financial statements for the six months ended June 30, 2021, were prepared in accordance with HKAS 34 and have been reviewed by the Audit Committee[37][38]. - The Group's financial position remains stable, with no significant impact from the adoption of new HKFRSs effective from January 1, 2021[43][44].
国农金融投资(08120) - 2021 - 中期财报