Revenue Performance - Revenue increased by 4.5% to HKD 240.6 million for the six months ended June 30, 2024, compared to HKD 230.3 million for the same period in 2023[1] - The group's revenue for the six months ended June 30, 2024, was HKD 240,589,000, an increase of 4.8% compared to HKD 230,280,000 for the same period in 2023[9] - Revenue from property leasing was HKD 164,119,000, up from HKD 157,575,000, representing a growth of 4.9%[9] - Total revenue for the six months ended June 30, 2023, was HKD 230,280,000, with a breakdown of HKD 199,325,000 from property leasing and related services, and HKD 30,955,000 from hotel operations[12] - Total revenue increased by HKD 10.3 million or 4.5% to HKD 240.6 million for the six months ended June 30, 2024, compared to HKD 230.3 million in the same period last year[21] Financial Losses - The basic loss for the period was HKD 162.6 million, compared to a profit of HKD 146.5 million for the same period in 2023[2] - The company reported a net loss attributable to shareholders of HKD 158.2 million for the period, compared to a profit of HKD 123.6 million in the previous year[3] - The group recorded a consolidated loss of HKD 162.6 million for the six months ended June 30, 2024, compared to a profit of HKD 146.5 million in the same period last year[21] - Basic loss per share was HKD 0.55, compared to earnings of HKD 0.43 per share in the previous year[21] Dividends - The company declared an interim dividend of HKD 0.04 per share, down from HKD 0.06 per share in 2023[1] - The interim dividend declared is HKD 0.04 per ordinary share, down from HKD 0.06 per share in 2023[37] Asset and Liability Changes - Total assets decreased to HKD 11.73 billion as of June 30, 2024, from HKD 11.89 billion as of December 31, 2023[4] - Non-current liabilities increased significantly to HKD 2.15 billion, up from HKD 1.32 billion at the end of 2023[5] - Cash and cash equivalents decreased to HKD 96.0 million from HKD 108.4 million at the end of 2023[4] - The company’s total equity decreased to HKD 8.73 billion from HKD 8.91 billion at the end of 2023[5] - The net current liabilities as of June 30, 2024, were HKD 604,241,000, a significant decrease from HKD 1,396,655,000 as of December 31, 2023[9] - The total liabilities due within one year are HKD 323,133 thousand, while liabilities due in the second year are HKD 55,338 thousand[33] Investment Properties - The fair value loss on investment properties was HKD 129.8 million, compared to a gain of HKD 130.6 million in the previous year[2] - The group reported a total loss of HKD 162,567,000 for the period, with a significant loss attributed to investment property fair value changes amounting to HKD 129,824,000[11] - As of June 30, 2024, the valuation of investment properties was HKD 9,492.8 million, a decrease of HKD 128.7 million or 1.3% from HKD 9,621.5 million as of December 31, 2023[21] - The total carrying amount of investment properties and land and buildings was HKD 8,037.6 million as of June 30, 2024, down from HKD 8,102.4 million as of December 31, 2023[31] Capital Expenditures - Capital expenditures for the period totaled HKD 10,572,000, with HKD 8,223,000 spent in Hong Kong and HKD 2,349,000 in North America[11] - Capital expenditures for the six months ended June 30, 2024, amounted to HKD 18,287,000, with HKD 8,962,000 in Hong Kong and HKD 9,325,000 in North America[12] - Capital expenditure for the first half of 2024 was HKD 10.6 million, down from HKD 18.3 million in the same period last year[27] Financial Costs - The group’s financial costs for the period were HKD 77,114,000, reflecting the impact of financing activities on overall performance[11] - Total interest expenses for the period were HKD 77.1 million, an increase of HKD 14.3 million or 22.7% compared to HKD 62.8 million in the previous year[21] - The net financial cost for the six months ended June 30, 2024, was HKD (75,719,000), an increase from HKD (62,284,000) in the same period of 2023[16] Employment and Operations - The group employed a total of 257 full-time employees as of June 30, 2024, with competitive compensation levels and performance-based rewards[34] - The average occupancy rates for the hotels were 75.5% and 91.0%, down from 81.4% and 96.3% respectively in the previous year[25] - The group expects a moderate recovery in the residential leasing market in 2024[25] Financial Review and Compliance - The interim financial data for the six months ending June 30, 2024, has been reviewed by the external auditor without any differing opinions[41] - The group’s management has confirmed that the accounting policies used in preparing the interim financial data are consistent with those applied in the annual report for the year ended December 31, 2023[9] Strategic Plans - The group plans to secure new loan financing to replace loans maturing within one year, indicating a proactive approach to managing financial resources[9] - The group continues to modernize its real estate portfolio and will closely monitor economic developments for future investment plans[36] - There were no significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the six months ending June 30, 2024[35] - The group has no significant contingent liabilities or guarantees as of June 30, 2024[31] Segment Revenue - The total segment revenue from Hong Kong was HKD 209,746,000, while North America contributed HKD 30,843,000, leading to a total segment revenue of HKD 240,589,000[11]
大生地产(00089) - 2024 - 中期业绩