Financial Performance - Revenue increased by 4.8% year-on-year to HKD 132,468,000, setting a new historical high[2] - Reported profit decreased by 15.3% to HKD 47,407,000, primarily due to fair value losses on investment properties[2] - Underlying recurring profit rose by 4.5% to HKD 61,710,000[2] - Basic earnings per share decreased by 15.6% to HKD 15.2 cents, while underlying recurring earnings per share increased by 4.8% to HKD 19.8 cents[2] - Total operating profit for the group was HKD 68,297,000 for the six months ended June 30, 2024, compared to HKD 60,883,000 for the same period in 2023, indicating an increase of 12.3%[11] - The group reported a net profit of HKD 55,993,000 for the six months ended June 30, 2024, compared to HKD 47,407,000 for the same period in 2023, reflecting a growth of 17.9%[11] - Reported profit for the six months was HKD 47,407,000, a decrease of 15.3% from HKD 55,993,000 in 2023, primarily due to unrealized fair value losses on investment properties[28] Dividends - Total dividends per share increased by 11.8% to HKD 9.5 cents[2] - The interim dividend declared is HKD 0.03 per share, totaling HKD 9,349,000, consistent with the previous year[18] - The special interim dividend is HKD 0.065 per share, amounting to HKD 20,257,000, an increase from HKD 0.055 per share in the previous year[18] Assets and Liabilities - The total assets of the group as of June 30, 2024, amounted to HKD 935,067,000, up from HKD 907,465,000 as of December 31, 2023, representing a growth of 3.1%[12] - The group’s total liabilities increased to HKD 183,657,000 as of June 30, 2024, from HKD 142,282,000 as of December 31, 2023, marking a rise of 29.1%[12] - Shareholders' equity decreased by 1.8% to HKD 751,410,000[7] - Net asset value per share decreased by 2.0% to HKD 2.41[7] - The group's accounts receivable decreased to HKD 15,353,000 as of June 30, 2024, from HKD 27,470,000 as of December 31, 2023, representing a decline of approximately 44%[20] - Total liabilities decreased to HKD 17,924,000 as of June 30, 2024, compared to HKD 21,970,000 as of December 31, 2023[23] - The total amount of accounts payable increased to HKD 16,311,000 as of June 30, 2024, from HKD 20,498,000 as of December 31, 2023[23] Segment Performance - The healthcare segment reported external sales revenue of HKD 123,442,000 for the six months ended June 30, 2024, compared to HKD 120,942,000 for the same period in 2023, reflecting a growth of 1.2%[11] - The healthcare segment's operating profit was HKD 76,974,000 for the six months ended June 30, 2024, compared to HKD 73,666,000 for the same period in 2023, showing an increase of 4.9%[11] - Healthcare segment revenue grew by 2.1% to HKD 123,442,000, while property investment revenue increased by 9.6% to HKD 4,752,000, and financial investment revenue surged by 275.6% to HKD 4,274,000[27] - The healthcare segment's profit increased by 4.5% to HKD 76,974,000, with revenue from North America rising significantly by 85.7% to HKD 3,495,000[30][31] - Property investment segment revenue increased by 9.6% to HKD 4,752,000, driven by higher rental income in the UK, although offset by a decrease in rental income in Hong Kong[32] - The property investment segment reported a loss of HKD 10,763,000, a significant increase from a loss of HKD 180,000 in 2023, mainly due to unrealized fair value losses[33] Market Outlook - The group remains cautiously optimistic about the second half of 2024 despite potential valuation fluctuations in the property investment segment[1] - The group maintains a cautious outlook for the second half of 2024, focusing on growth opportunities in the healthcare segment despite economic uncertainties[48] Corporate Governance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange rules and has complied with most provisions, except for the separation of roles between the chairman and CEO[53] - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balance of power[54] - The company has adopted the standard code of conduct for directors' securities transactions and confirmed compliance during the reporting period[55] - The audit committee, composed of three independent non-executive directors, reviewed the interim financial information for the six months ending June 30, 2024[56] - The board of directors includes three executive directors and three independent non-executive directors, ensuring diverse perspectives[57] Other Information - The group is currently evaluating the potential impact of new and revised Hong Kong Financial Reporting Standards that will take effect on January 1, 2024, but has not yet estimated their effects on performance and financial position[9] - The company will suspend the handling of shareholder registration from October 2, 2024, to October 4, 2024, to qualify for interim and special interim dividends[50] - No arrangements were made during the period for directors to purchase shares or bonds of the company or any other entity for personal gain[51] - The company did not buy, sell, or redeem any of its listed securities during the period[52] - The group has pledged investment properties valued at HKD 104,648,000 as collateral for bank borrowings, which is a decrease from HKD 107,184,000 in the previous year[26] - The group’s deferred tax liabilities increased to HKD 13,173,000 from HKD 12,008,000 year-on-year[6] - Employee costs rose by 11.3% to HKD 20,871,000 (2023: HKD 18,746,000), reflecting annual salary increases[37] - Other operating expenses increased by 29.1% to HKD 14,009,000 (2023: HKD 10,849,000), with advertising and promotion expenses contributing to the rise[38] - The group's investment property portfolio was valued at HKD 239,678,000 as of June 30, 2024, a decrease of 6.1% from HKD 255,264,000 as of December 31, 2023[41] - The capital-to-equity ratio was 0.5% as of June 30, 2024, compared to 0.6% as of December 31, 2023, indicating prudent financial management[42]
白花油(00239) - 2024 - 中期业绩