Financial Performance - The company reported a loss of HKD 9,646,000 for the six months ended September 30, 2021, compared to a loss of HKD 6,241,000 for the same period in 2020, representing a 55% increase in losses year-over-year [8]. - Revenue for the six months ended September 30, 2021, was HKD 2,125,000, a decrease of 72% from HKD 7,596,000 in the same period of 2020 [8]. - Gross profit for the period was HKD 809,000, down 69% from HKD 2,593,000 in the previous year [8]. - The company reported a total comprehensive loss of HKD 10,450,000 for the six months ended September 30, 2021, compared to HKD 10,228,000 for the same period in 2020 [10]. - The company’s basic loss per share for the six months ended September 30, 2021, was HKD (0.96), compared to HKD (0.62) for the same period in 2020 [8]. - The company reported a pre-tax loss of HKD 17,420,000 for the six months ended September 30, 2021, compared to a loss of HKD 11,461,000 for the same period in 2020, indicating a 52% increase in losses [64]. - The group recorded a net loss attributable to owners of approximately HKD 17.4 million, compared to HKD 11.5 million in 2020, primarily due to decreased revenue and gross profit from reduced transaction volumes [119]. Assets and Liabilities - The company's total assets less current liabilities as of September 30, 2021, were HKD 36,064,000, a decrease from HKD 66,413,000 as of March 31, 2021 [14]. - The company’s equity attributable to owners decreased to HKD 28,875,000 as of September 30, 2021, from HKD 47,448,000 as of March 31, 2021 [14]. - The company’s total liabilities as of September 30, 2021, included lease liabilities and convertible bonds, indicating ongoing financial obligations [36]. - The group's total liabilities increased to approximately HKD 54.1 million from HKD 35.2 million as of March 31, 2021, resulting in a debt-to-equity ratio of 64.5% [121]. Cash Flow and Financing - The company incurred finance costs of HKD 2,985,000 for the six months ended September 30, 2021, compared to HKD 909,000 for the same period in 2020, indicating a significant increase in financing expenses [8]. - For the six months ended September 30, 2021, the company reported a net cash inflow from operating activities of HKD 8,303,000, compared to a net cash outflow of HKD 15,018,000 for the same period in 2020 [34]. - The company’s financing activities resulted in a net cash outflow of HKD 563,000, compared to a net cash inflow of HKD 10,825,000 in the previous year [34]. - Financing costs for the period were approximately HKD 3.0 million, up from HKD 0.9 million in 2020, due to increased interest expenses from convertible bonds [118]. Operational Highlights - The company invested HKD 12,000,000 in software development during the reporting period, indicating a focus on technology advancement [34]. - The company continues to focus on expanding its operations in Thailand and has plans for further investments in technology and market development [36]. - The company’s revenue primarily comes from merchant acquiring services in Thailand, with no further breakdown provided for other segments [42]. - The group is exploring investment opportunities in the fintech and information technology sectors in China, particularly in the Greater Bay Area, to reduce reliance on the tourism industry [109]. Employee and Administrative Expenses - The company’s administrative expenses rose to HKD 11,561,000 for the six months ended September 30, 2021, compared to HKD 8,227,000 in the same period of 2020, reflecting a 41% increase [8]. - Total employee costs for the six months ended September 30, 2021, were HKD 7,054,000, up 26% from HKD 5,589,000 in the same period of 2020 [55]. - Total employee costs, including key management compensation, amounted to approximately HKD 7.2 million, an increase from HKD 5.7 million in 2020 [135]. Shareholder and Governance - Major shareholders include Meiya and China Payment, each holding 325,000,000 shares, representing 32.50% of the issued shares [151]. - The company has adopted a share option scheme since September 18, 2018, with 100,000,000 shares available for issuance, representing 10% of the total issued shares as of the report date [164]. - The company has complied with all applicable corporate governance codes since its listing on GEM on October 16, 2018 [157]. - The Audit Committee has been established in accordance with GEM Listing Rules and consists of three independent non-executive directors as of September 30, 2021 [166]. Miscellaneous - The company did not recommend any dividend for the six months ended September 30, 2021, consistent with the previous year [65]. - The company has no collateralized assets as of September 30, 2021 [133]. - There are no significant contingent liabilities reported as of September 30, 2021 [134].
东方支付集团控股(08613) - 2022 - 中期财报