Financial Performance - The Group's revenue for the six months ended November 30, 2019, was approximately HK$30.0 million, representing a decrease of approximately 24.1% compared to the corresponding period in 2018[38]. - The Group recorded a total comprehensive loss of approximately HK$11.2 million for the six months ended November 30, 2019, an improvement from a loss of approximately HK$13.2 million for the same period in 2018[38]. - Revenue for the three months ended November 30, 2019, was HK$13,265,000, a decrease of 27.8% compared to HK$18,380,000 for the same period in 2018[55]. - Total comprehensive loss for the period was HK$6,667,000, compared to a loss of HK$6,821,000 in the previous year, reflecting a slight improvement[55]. - Loss per share attributable to owners of the Company was HK$0.81 for the three months ended November 30, 2019, compared to HK$0.83 in the same period of 2018[55]. - The company reported a net decrease in cash and cash equivalents of HK$5,080,000 for the period, compared to a decrease of HK$12,053,000 in the prior year[73]. - Loss attributable to owners of the company for the six months ended November 30, 2019, was HK$10,908,000, compared to HK$12,770,000 for the same period in 2018, showing a decrease of 15%[192]. Revenue Breakdown - Total revenue for the six months ended November 30, 2019, was HK$29.958 million, a decrease from HK$39.496 million in the same period of 2018, representing a decline of approximately 24%[128]. - Revenue from clubbing and entertainment operations for the six months ended November 30, 2019, was HK$26.089 million, down from HK$31.258 million in the same period of 2018, indicating a decrease of about 16.5%[128]. - Net sales of beverages for the six months ended November 30, 2019, totaled HK$21.820 million, compared to HK$25.963 million in the same period of 2018, reflecting a decline of approximately 16%[128]. - The Group's restaurant operations generated revenue of HK$8.238 million for the six months ended November 30, 2019, down from HK$8.222 million in the same period of 2018, showing a slight increase of about 0.2%[128]. Expenses and Costs - Employee benefits expenses were HK$4,714,000 for the three months ended November 30, 2019, down from HK$5,512,000, a decrease of 14.4%[55]. - The Company reported a significant increase in finance costs to HK$731,000 for the three months ended November 30, 2019, compared to HK$247,000 in the previous year, reflecting a rise of 195.5%[55]. - Finance costs for the six months ended November 30, 2019, amounted to HK$1,382,000, compared to HK$247,000 for the same period in 2018, representing a significant increase of 460%[141]. - Interest on bank borrowings for the six months ended November 30, 2019, was HK$539,000, up from HK$247,000 in 2018, indicating a 118% increase[141]. - Interest on lease liabilities for the six months ended November 30, 2019, was HK$172,000, with no comparable figure for the previous year[141]. Cash Flow - Net cash generated from operating activities for the six months ended 30 November 2019 was HK$6,631,000, compared to a net cash used of HK$4,223,000 in the same period last year, indicating a significant improvement[73]. - Net cash generated from investing activities was HK$2,250,000, a recovery from a net cash used of HK$7,932,000 in the previous year[73]. - Net cash used in financing activities amounted to HK$13,961,000, contrasting with a net cash generated of HK$102,000 in the same period last year[73]. - The cash and cash equivalents at the end of the period were HK$15,231,000, down from HK$21,455,000 at the end of the previous period[73]. Dividends - The Board did not recommend the payment of any dividend for the six months ended November 30, 2019[39]. - No dividends were paid, declared, or proposed by the company during the six months ended November 30, 2019, and 2018[150]. Compliance and Accounting Standards - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable regulations[80]. - The company has adopted HKFRS 16 "Leases," which impacts the accounting treatment of lease arrangements, effective from 1 January 2019[82]. - The principal accounting policies used in the preparation of the financial statements are consistent with those applied in the previous annual report[80]. - The Group has adopted HKFRS 16 using the modified retrospective approach, which does not restate comparative information[85]. - The Group does not anticipate that the application of other new and revised HKFRSs will have a material impact on its financial performance and positions[88]. Taxation - The group is subject to a two-tiered profits tax rates regime in Hong Kong, with the first HK$2,000,000 of profits taxed at 8.25% and profits above that threshold taxed at 16.5%[150]. - The company reported no current or deferred income tax expense for the periods under review[147]. - The group is not subject to any taxation under the jurisdictions of the Cayman Islands[148]. Business Operations - The company operates in sectors including clubbing, entertainment, restaurant business, and securities investment in Hong Kong[78]. - The Group's operations are primarily focused on clubbing, entertainment, and restaurant businesses in Hong Kong[88]. - The shares of the company were listed on GEM of the Stock Exchange since 7 April 2017, with a total of 200,000,000 shares offered[78]. - The Group's customer base is diversified, with no individual customer exceeding 10% of the Group's revenue during the period under review[88].
新爱德集团(08412) - 2020 - 中期财报