Financial Performance - For the six months ended June 30, 2024, the group recorded consolidated revenue of HKD 545 million, compared to HKD 452 million for the same period in 2023, representing a growth of approximately 20.6%[4] - The group's consolidated operating profit for the period was HKD 49 million, a significant recovery from an operating loss of HKD 21 million in the same period of 2023[4] - The loss attributable to shareholders for the first six months of 2024 was HKD 153 million, an improvement from a loss of HKD 221 million in the same period last year[4] - The basic loss per share for the first half of 2024 was HKD 7.52, compared to HKD 10.85 for the same period in 2023[4] - The total comprehensive loss for the period was HKD 658 million, compared to a loss of HKD 217 million in the previous year[27] - The company reported a loss of HKD 153 million for the six months ended June 30, 2024, compared to a loss of HKD 221 million for the same period in 2023, representing a 30.8% improvement in losses[42] Revenue Breakdown - The hotel business in Japan recorded revenue of HKD 221 million for the six months ended June 30, 2024, compared to HKD 153 million in the same period of 2023, reflecting a significant increase[10] - The group's golf business in Thailand recorded revenue of HKD 6 million for the first half of 2024, compared to HKD 5 million in the same period of 2023, reflecting a growth of 20%[8] - The occupancy rate of Pacific Century Place, Jakarta, was 87% as of June 30, 2024, with total rental income of HKD 100 million for the period, down from HKD 121 million in the same period of 2023[6] - Revenue from other businesses, primarily property investment in Hong Kong, was HKD 7 million for the six months ended June 30, 2024, compared to HKD 6 million in the same period of 2023[13] Asset and Liability Management - As of June 30, 2024, the group's current assets amounted to HKD 4.175 billion, a decrease of 8.7% from HKD 4.461 billion on December 31, 2023[15] - The total current liabilities of the group as of June 30, 2024, were HKD 1.097 billion, down from HKD 1.172 billion on December 31, 2023[15] - The group's borrowings stood at HKD 9.482 billion as of June 30, 2024, compared to HKD 9.441 billion on December 31, 2023[15] - The total liabilities decreased slightly to HKD 10,218 million as of June 30, 2024, from HKD 10,343 million as of December 31, 2023[30] - The company’s total assets decreased to HKD 14,242 million as of June 30, 2024, from HKD 14,925 million as of December 31, 2023[30] Cash Flow and Financing - The group generated cash from operating activities of HKD 78 million for the six months ended June 30, 2024, compared to HKD 39 million for the same period in 2023, indicating a 100% increase[17] - The company reported a net cash generated from operating activities was negative HKD 78 million for the first half of 2024, contrasting with a positive cash flow of HKD 39 million in the same period of 2023[31] - The financing costs decreased to HKD 170 million from HKD 183 million year-on-year, indicating improved cost management[27] - The interest expense on bank loans for the six months ended June 30, 2024, was HKD 92 million, an increase from HKD 60 million in the same period of 2023[37] Strategic Initiatives and Market Outlook - The group aims to continue identifying new opportunities for property development and investment to deliver sustainable returns to stakeholders[1] - The company anticipates strong performance from its hotel and leisure businesses in Japan, contributing significantly to overall results[20] - The company plans to implement effective sales and promotional activities in various markets during the remaining months of 2024[20] - The board remains cautiously optimistic about the long-term prospects of the real estate sectors in Hong Kong, Japan, Thailand, and Indonesia[20] - The geopolitical situation and slow economic recovery continue to create uncertainty in the market outlook for 2024[20] Shareholder and Corporate Governance - The board did not declare an interim dividend for the six months ending June 30, 2024, consistent with the previous year[20] - The company has established a stock option plan effective from May 7, 2015, to incentivize eligible participants[20] - The audit committee reviewed the unaudited condensed consolidated interim financial information for the six months ended June 30, 2024, and held one meeting during the review period[81] - The company has adhered to the principles of the Corporate Governance Code as set out in Appendix C1 of the Listing Rules during the six months ended June 30, 2024[82]
盈大地产(00432) - 2024 - 中期财报