Joint Ventures and Partnerships - The joint venture with 荣式 generated approximately HKD 9.8 million in revenue for the six months ended June 30, 2021, representing a 139% increase compared to the same period last year[6]. - The company entered into a joint venture agreement with 天炅, where the company holds a 60% stake and 天炅 holds 40%, with an initial funding of HKD 3 million for establishing the first joint venture restaurant in Hong Kong[7]. - The company plans to be the exclusive supplier of all food and beverage materials for the joint venture's restaurants, which is expected to enhance future sales and revenue[9]. Financial Performance - The group recorded revenue of approximately HKD 36.5 million for the six months ended June 30, 2021, a decrease of about 3.4% compared to approximately HKD 37.8 million in the same period last year[13]. - The group recorded a net loss of approximately HKD 7.3 million for the six months ended June 30, 2021, compared to a net loss of approximately HKD 4.6 million in the same period last year[18]. - The loss before tax for the six months ended June 30, 2021, was HKD 7,929,000, compared to a loss of HKD 5,154,000 in the same period of 2020, indicating a deterioration in performance[86]. - The company reported a net loss of HKD 7,312,000 for the six months ended June 30, 2021, compared to a net loss of HKD 4,648,000 in the prior year[86]. - The company reported a pre-tax loss of HKD 7,929,000 for the six months ended June 30, 2021, compared to a pre-tax loss of HKD 5,154,000 for the same period in 2020, indicating an increase in losses of approximately 53.5%[60]. Revenue Breakdown - Sales to external customers in the food processing and trading segment were HKD 26,483,000, down from HKD 33,660,000 in the previous year, reflecting a decline of 21.5%[81]. - Restaurant operations generated revenue of HKD 10,017,000 for the six months ended June 30, 2021, compared to HKD 4,109,000 in 2020, representing an increase of 143.5%[81]. Cost and Expenses - The cost of consumed inventory and operating loss before tax for the six months ended June 30, 2021, were approximately HKD 20.7 million and HKD 7.7 million, respectively, compared to approximately HKD 24.2 million and HKD 4.8 million in the same period last year[14]. - The cost of goods sold for the six months ended June 30, 2021, was HKD 20,746,000, down 14.5% from HKD 24,241,000 in 2020[49]. - Employee benefits expenses totaled HKD 10,977,000 for the six months ended June 30, 2021, compared to HKD 9,378,000 in the previous year, reflecting an increase of 17.0%[86]. - The company incurred total operating expenses of HKD 6,126,000 for the six months ended June 30, 2021, compared to HKD 3,652,000 in the same period of 2020, marking a 67.5% increase[50]. Assets and Liabilities - As of June 30, 2021, the group's current assets net value was approximately HKD 26.9 million, down from HKD 34.5 million as of December 31, 2020[20]. - Total assets less current liabilities as of June 30, 2021, were HKD 144,099,000, slightly down from HKD 144,534,000 as of December 31, 2020[53]. - Non-current assets totaled HKD 117,198,000 as of June 30, 2021, an increase of 6.5% from HKD 110,067,000 at the end of 2020[52]. - The company’s total equity as of June 30, 2021, was HKD 117,735,000, down from HKD 123,861,000 at the end of 2020, reflecting a decrease of 5%[53]. - The company’s total equity as of June 30, 2021, was HKD 138,056,000, down from HKD 141,708,000 as of January 1, 2020, representing a decrease of approximately 2.3%[57]. Cash Flow and Financing - Cash flow from operating activities for the six months ended June 30, 2021, was HKD 1,020,000, a decrease of 81.0% from HKD 5,369,000 in the same period of 2020[60]. - The company reported a net cash outflow from financing activities of HKD 743,000 for the six months ended June 30, 2021, compared to HKD 2,670,000 in the same period of 2020, indicating a reduction of approximately 72.1%[62]. - The company received a loan of HKD 1,200,000 from a non-controlling shareholder during the six months ended June 30, 2021, which was not present in the same period of 2020[62]. Shareholder and Governance - As of June 30, 2021, the major shareholder, Jianjing Venture Limited, holds 1,050,000,000 shares, representing 75% of the company's issued share capital[38]. - The company has not granted any share options under its share option scheme since its adoption on June 5, 2017[39]. - The company has adopted a code of conduct for securities transactions by directors, which complies with the GEM Listing Rules[43]. - The company has established an audit committee consisting of three independent non-executive directors, which has reviewed the report and confirmed compliance with applicable accounting standards[47]. Employee and Management - The group employed 67 full-time employees as of June 30, 2021, an increase from 41 employees in the same period last year[33]. - The total remuneration for key management personnel increased to HK$2,457,000 for the six months ended June 30, 2021, up 10.4% from HK$2,225,000 for the same period in 2020[107]. Dividends and Other Comprehensive Income - The group did not declare an interim dividend for the six months ended June 30, 2021[19]. - The company reported other comprehensive income of HKD 1,186,000 for the six months ended June 30, 2021, compared to HKD 996,000 in the same period of 2020, representing an increase of 19.1%[50].
运兴泰集团(08362) - 2021 - 中期财报