Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 374,147,000, representing an increase of 6.8% compared to HKD 350,352,000 for the same period in 2023[1]. - Total profit for the period was HKD 231,496,000, up from HKD 196,637,000, marking a growth of 17.7% year-over-year[1]. - The company reported a net loss of HKD 150,922,000 for the six months ended June 30, 2024, compared to a net loss of HKD 78,972,000 in the same period of 2023, indicating a deterioration in performance[2]. - The basic and diluted loss per share for the period was HKD 0.15, compared to HKD 0.06 for the same period in 2023[1]. - The group incurred a pre-tax loss of HKD 148,793,000 for the reporting period[8]. - The company reported a net loss before tax of HKD 51,745,000 for the six months ended June 30, 2024, compared to a profit of HKD 29,066,000 in the same period of 2023[14]. Assets and Liabilities - Non-current assets totaled HKD 3,090,472,000 as of June 30, 2024, down from HKD 3,185,187,000 as of December 31, 2023[3]. - Current liabilities increased significantly to HKD 834,188,000 from HKD 499,379,000, reflecting a rise in bank loans and lease liabilities[4]. - The company's cash and cash equivalents stood at HKD 291,831,000, a decrease from HKD 301,604,000 at the end of 2023[3]. - The total equity attributable to the company's equity holders decreased to HKD 2,637,862,000 from HKD 2,824,523,000, indicating a decline in shareholder value[4]. - The company’s total assets as of June 30, 2024, were HKD 3,801,261 million, with total liabilities amounting to HKD 1,163,399 million[10]. - The group recorded a consolidated loss attributable to shareholders of HKD 137 million for the six months ended June 30, 2024, compared to a loss of HKD 59 million for the same period in 2023, primarily due to fair value losses on financial instruments[23]. Revenue Breakdown - Total revenue for the six months ended June 30, 2024, was HKD 374,147,000, with significant contributions from the food business segment at HKD 347,617,000[8]. - The food manufacturing business generated revenue of HKD 166,400 million for the six months ended June 30, 2024, compared to HKD 158,454 million in the same period of 2023, indicating a growth of approximately 8.5%[10]. - The restaurant operations revenue increased to HKD 179,479 million in the first half of 2024, up from HKD 169,020 million in the previous year, reflecting a growth of about 6.9%[10]. - Total revenue from customer contracts for the six months ended June 30, 2024, was HKD 352,360,000, an increase from HKD 333,717,000 for the same period in 2023, representing a growth of approximately 5.5%[11]. - Revenue from food manufacturing business reached HKD 166,400,000 for the six months ended June 30, 2024, compared to HKD 158,454,000 in 2023, indicating a year-on-year increase of about 5.9%[11]. - Restaurant operations generated revenue of HKD 179,479,000 for the six months ended June 30, 2024, up from HKD 169,020,000 in 2023, reflecting a growth of approximately 6.5%[11]. Expenses and Costs - The company’s administrative expenses rose to HKD 210,572,000 from HKD 185,994,000, reflecting increased operational costs[1]. - Employee costs increased to HKD 154,950,000 for the six months ended June 30, 2024, from HKD 134,476,000 in 2023, representing a rise of approximately 15.3%[14]. - Other operating expenses rose to HKD 95 million in the current period, compared to HKD 72 million in 2023, driven by sales and distribution costs, utilities, and professional fees[23]. Investments and Fair Value - The company reported a fair value loss of HKD 51,745,000 on financial instruments measured at fair value through profit or loss for the period[1]. - The group recorded a net fair value loss of HKD 52,000,000 from securities investments in the current period, compared to a gain of HKD 29,000,000 in 2023, resulting in a loss of HKD 43,000,000 for the current period[26]. - The fair value of GSH stock securities held by the group was HKD 69,000,000, representing approximately 11.1% of the total financial assets at fair value[27]. - The group confirmed an unrealized fair value loss of HKD 9,000,000 on GSH investments during the current period[27]. - The fair value of investments classified as "fair value through other comprehensive income" was HKD 48,000,000 as of June 30, 2024, slightly down from HKD 49,000,000 on December 31, 2023[30]. Corporate Governance - The company is committed to high-quality corporate governance practices to enhance investor confidence[40]. - The board of directors consists of nine members, including executive and independent directors[40]. - The company believes it has complied with the corporate governance code as of June 30, 2024[40]. Market and Economic Environment - The overall economic environment in Hong Kong remains challenging, with consumer behavior affected by high inflation and interest rates, impacting retail and food businesses[22]. - The outlook for global growth remains stable, with Singapore's GDP growth forecast narrowed to between 2.0% and 3.0% for 2024[36].
力宝华润(00156) - 2024 - 中期业绩