Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 12,837,676, a decrease of 22.0% compared to HKD 16,615,774 for the same period in 2023[1][2] - The company reported a loss attributable to shareholders of HKD (21,252,620), compared to a profit of HKD 507,292 in the prior year, representing a significant decline[2][4] - Basic and diluted loss per share was HKD (1.86), compared to earnings of HKD 0.04 per share in the previous year[4] - The company reported a net loss of HKD 21.25 million for the six months ended June 30, 2024, compared to a profit of HKD 507.29 million for the same period in 2023[25] - The group reported a loss before tax of HKD 21,252,620 for the six months ended June 30, 2024, compared to a profit of HKD 131,629 in the same period of 2023[18] - The company’s total comprehensive expenses for the period amounted to HKD (21,413,626), compared to HKD (560,512) in the previous year[4][7] Revenue Breakdown - Hotel business revenue for the six months ended June 30, 2024, was HKD 10,903,008, down 25.6% from HKD 14,653,898 in the same period of 2023[13] - Room sales revenue for the six months ended June 30, 2024, was HKD 5,847,562, down 28.0% from HKD 8,107,457 in the same period of 2023[15] - Food and beverage revenue for the six months ended June 30, 2024, was HKD 5,055,446, a decrease of 22.7% from HKD 6,546,441 in the same period of 2023[15] - Total rental income from investment properties for the six months ended June 30, 2024, was HKD 1,934,668, a decrease of 1.4% from HKD 1,961,876 in the same period of 2023[13] - Revenue from external customers in mainland China for the six months ended June 30, 2024, is HKD 10.90 billion, down from HKD 14.65 billion in the same period of 2023, reflecting a decrease of approximately 25.5%[20] - Revenue from external customers in Hong Kong for the six months ended June 30, 2024, is HKD 1.93 billion, slightly down from HKD 1.96 billion in the same period of 2023, a decrease of about 1.2%[20] Assets and Liabilities - Non-current assets decreased to HKD 330,810,506 from HKD 348,644,936, a decline of 5.1%[5] - Current assets decreased to HKD 38,963,547 from HKD 41,555,735, a reduction of 6.9%[5] - Total assets as of June 30, 2024, are approximately HKD 369.77 billion, a decrease from HKD 390.20 billion as of December 31, 2023, representing a decline of about 5.5%[20] - Total liabilities as of June 30, 2024, are approximately HKD 12.27 billion, an increase from HKD 11.28 billion as of December 31, 2023, indicating an increase of about 8.8%[20] - The total amount of trade and other payables decreased to HKD 10.57 billion as of June 30, 2024, from HKD 11.03 billion as of December 31, 2023[34] Cash Flow and Financial Position - The company reported a net cash and bank balance of HKD 36,763,625, down from HKD 39,473,290, a decrease of 6.9%[5] - The group reported cash and cash equivalents of HKD 21,890,000 and RMB 12,779,000 as of June 30, 2024, compared to HKD 23,864,000 and RMB 13,139,000 as of December 31, 2023, indicating a decrease in cash reserves[52] - The company maintained a low debt ratio of approximately 3% as of June 30, 2024, consistent with the previous year[38] - The current ratio was 3.46, slightly down from 3.68 as of December 31, 2023, indicating stable liquidity[50] Operational Insights - The average occupancy rate for the star-rated hotels was approximately 48%, down about 25% from 64% in the same period last year[40] - The group aims to enhance marketing efforts and innovate to create differentiated value for customers, attracting new clients and retaining existing ones[48] - The hotel management is actively expanding diversified operations, including launching catering sales and online sales collaborations for events, contributing to initial success in banquet and group meal expansions[43] Corporate Governance and Compliance - The company adheres to corporate governance principles and has complied with the applicable corporate governance code provisions as of June 30, 2024[58] - The Audit Committee consists of three independent non-executive directors, including the chairperson, Ms. Liao Mei Ling, who is a qualified accountant[59] - The Audit Committee reviewed the interim financial performance for the period and confirmed that the reports comply with applicable accounting standards and legal requirements[60] Future Outlook - The group anticipates gradual recovery in the domestic hotel market as leisure and business travel demand increases[43] - The financing and treasury policy focuses on maintaining a balanced debt situation and diversified funding structure, ensuring sufficient and flexible liquidity for operations and potential investments[51]
闽港控股(00181) - 2024 - 中期业绩