Financial Performance - The Group recorded an unaudited revenue of approximately HK$3.4 million for the six months ended 30 November 2020, representing a decrease of approximately 89.9% compared to the same period in 2019[16]. - The Group's unaudited loss was approximately HK$18.7 million for the six months ended 30 November 2020, an increase of approximately 228.8% compared to the corresponding period in 2019[16]. - Loss per share for the period was HK$2.34, compared to HK$0.71 for the same period in 2019, reflecting a decline of 229.6%[16]. - Revenue for the six months ended 30 November 2020 was HK$3,378,000, a decrease of 90.1% compared to HK$33,472,000 for the same period in 2019[21]. - The gross loss for the six months ended 30 November 2020 was HK$12,474,000, compared to a gross profit of HK$10,738,000 in the same period of 2019[21]. - Operating loss for the six months ended 30 November 2020 was HK$18,405,000, significantly higher than the operating loss of HK$5,583,000 for the same period in 2019[21]. - Loss for the period attributable to owners of the Company for the six months ended 30 November 2020 was HK$18,713,000, compared to HK$5,686,000 in 2019, representing a 228.5% increase in loss[23]. - The company reported a loss of HK$5,686,000 for the period ended 30 November 2019, compared to a loss of HK$18,713,000 for the same period in 2020, indicating a decrease in losses year-over-year[31]. - The Group's loss for the six months ended 30 November 2020 was approximately HK$18.7 million, compared to a loss of approximately HK$5.7 million for the same period in 2019, primarily due to a decrease in revenue[173]. Assets and Liabilities - Total assets as of 30 November 2020 were HK$121,407,252, down from HK$130,068,020 as of 31 May 2020[26]. - Current liabilities increased to HK$25,389,537 as of 30 November 2020, compared to HK$18,067,648 as of 31 May 2020[28]. - Total equity attributable to owners of the Company decreased to HK$86,881,209 as of 30 November 2020, down from HK$105,594,628 as of 31 May 2020[26]. - Cash and bank balances as of 30 November 2020 were HK$27,217,684, down from HK$31,245,317 as of 31 May 2020[26]. - The company’s retained earnings decreased to HK$21,080,000 as of 30 November 2020 from HK$58,364,000 as of 30 November 2019, a decline of approximately 64%[31]. - The Group's current ratio as of 30 November 2020 was approximately 1.1, compared to approximately 1.7 as of 31 May 2020, indicating a decline in liquidity[175]. - The Group's gearing ratio increased to approximately 14.9% as of 30 November 2020, up from approximately 6.8% as of 31 May 2020, mainly due to an increase in bank borrowings[175]. - Bank borrowings as of November 30, 2020, totaled HK$8,878,443, up from HK$3,592,488 as of May 31, 2020[112]. Revenue Breakdown - Revenue from visual display solution services for the six months ended 30 November 2020 was HK$3,362, a decrease of 150% compared to HK$33,322 in the same period of 2019[48]. - The total revenue from visual display solutions was HK$3.36 million, accounting for 99.5% of total revenue for the six months ended 30 November 2020[140]. - The Group's revenue from equipment rental was HK$16,000, representing 0.5% of total revenue for the six months ended 30 November 2020[140]. - Total revenue from pop concerts in Hong Kong for the six months ended 30 November 2020 was HK$750,000, with an average revenue per show of HK$29,000[164]. - The number of pop concert shows in Hong Kong decreased to 26, compared to 77 shows in the same period in 2019, representing a significant decline[164]. - Total revenue from other live events was HK$2,502,000, with an average revenue per show of HK$4,000 for 677 shows in the six months ended 30 November 2020[167]. Cost Management - Administrative expenses for the six months ended 30 November 2020 were HK$6,022,000, compared to HK$16,605,000 in the same period of 2019, indicating a reduction in costs[21]. - Total expenses for the six months ended 30 November 2020 were HK$21,874,000, down from HK$39,339,000 in 2019, marking a decrease of 44.2%[57]. - Total staff costs for the six months ended 30 November 2020 amounted to approximately HK$6.9 million, a decrease from HK$10.1 million for the same period in 2019, reflecting a reduction of about 31.7%[184]. - The company incurred legal and professional expenses of HK$1,043,000 for the three months ended 30 November 2019, which decreased to HK$256,000 in the same period of 2020, a reduction of 75.5%[57]. Operational Challenges - The increase in loss was primarily attributable to the cancellation, postponement, or rescheduling of shows and events due to venue closures and related epidemic prevention measures[16]. - The Group engaged in 29 pop concert shows during the six months ended 30 November 2020, a significant decrease from 172 shows in the same period in 2019[135]. - Approximately 25.6% of the Group's total revenue during the six months ended 30 November 2020 was derived from pop concerts, down from approximately 71.3% in the prior year[135]. - The Group's overall performance indicates a need for strategic adjustments in response to the ongoing challenges in the live event industry[135]. Shareholder Information - The Board does not recommend the payment of dividends for the six months ended 30 November 2020[16]. - The total number of ordinary shares issued and fully paid remained at 800,000,000 as of November 30, 2020[121]. - The Group's capital structure consisted of equity attributable to owners of the Company of approximately HK$86.9 million as of 30 November 2020, with no changes since the Listing Date[176]. Compliance and Governance - The Company has adopted a code of conduct for directors' securities transactions, ensuring compliance with GEM Listing Rules[196]. - The Group did not engage in any derivatives agreements or financial instruments to hedge its foreign exchange exposure during the six months ended 30 November 2020[177]. - The Group's directors are not aware of any competing business interests from directors or controlling shareholders during the six months ended 30 November 2020[186].
耀星科技集团(08446) - 2021 - 中期财报