Financial Performance - Revenue for the six months ended June 30, 2024, was approximately HKD 25,594,000, a decrease of about 15.5% compared to HKD 30,166,000 for the same period in 2023[3] - Gross profit increased by approximately 3.6% to HKD 17,696,000, with a gross profit margin rising by approximately 11.6 percentage points to about 68.2% compared to the same period in 2023[3] - The net loss for the period was approximately HKD 36,433,000, compared to a net loss of approximately HKD 30,358,000 for the same period in 2023[3] - The group reported a loss before tax of HKD 42,574,000, compared to a loss before tax of HKD 30,010,000 for the same period in 2023[4] - Basic and diluted loss per share was HKD (1.16) compared to HKD (0.97) for the same period in 2023[4] - The group reported a total loss before tax of HKD 42,574,000 for the six months ended June 30, 2024, compared to a loss of HKD 30,010,000 for the same period in 2023, reflecting an increase in losses of approximately 42%[14] - The group incurred a total loss of HKD 36,433,000 attributable to equity holders for the six months ended June 30, 2024, compared to a loss of HKD 30,358,000 for the same period in 2023, representing an increase of about 20%[20] - The group reported a loss attributable to owners of the company of approximately HKD 36,400,000 for the six months ended June 30, 2024, compared to a loss of HKD 30,400,000 for the same period in 2023[37] Assets and Liabilities - Total assets as of June 30, 2024, were approximately HKD 1,183,841,000, down from HKD 1,229,839,000 as of December 31, 2023[3] - The group’s total liabilities were approximately HKD 578,275,000, slightly up from HKD 573,440,000 as of December 31, 2023[7] - The group’s equity attributable to owners was approximately HKD 605,566,000, down from HKD 656,399,000 as of December 31, 2023[6] - The total debt as of June 30, 2024, was approximately HKD 361,500,000, an increase from HKD 344,300,000 as of December 31, 2023[38] - The asset-liability ratio increased to 58.0% as of June 30, 2024, compared to 50.5% as of December 31, 2023[39] Revenue Segments - Total revenue for the property investment segment was HKD 17,867,000 for the six months ended June 30, 2024, compared to HKD 19,219,000 for the same period in 2023, representing a decrease of approximately 7%[14] - The total revenue for the property management segment was HKD 8,087,000 for the six months ended June 30, 2024, down from HKD 10,947,000 in the same period of 2023, indicating a decline of about 26%[14] - The group's revenue for the six months ended June 30, 2024, decreased to approximately HKD 26,000,000 from HKD 30,200,000 for the same period in 2023, primarily due to a decline in rental income from the Future City[28] Expenses - Administrative expenses decreased to HKD 13,884,000 from HKD 25,270,000 in the same period last year[4] - The group’s financial expenses decreased to HKD 20,924,000 for the six months ended June 30, 2024, from HKD 22,516,000 in the same period of 2023, showing a reduction of approximately 7%[16] - The group’s employee costs, including directors' remuneration, were HKD 10,062,000 for the six months ended June 30, 2024, down from HKD 11,221,000 in the same period of 2023, indicating a decrease of about 10%[18] - Other operating income decreased to approximately HKD 200,000 for the six months ended June 30, 2024, from HKD 1,100,000 for the same period in 2023[31] - Administrative expenses decreased to approximately HKD 13,900,000 for the six months ended June 30, 2024, from HKD 25,300,000 for the same period in 2023, mainly due to reduced expenses in property investment operations[34] Dividends and Shareholder Information - The group did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous period[19] - The board has decided not to declare an interim dividend for the current period, consistent with the previous period[44] - The company will publish its mid-term report at an appropriate time, which will be sent to shareholders and made available on the stock exchange and the company's website[50] Fair Value and Investments - The group recorded a fair value loss on investment properties of approximately HKD 24,565,000[3] - The group reported a fair value loss of HKD 24,565,000 from investment properties for the six months ended June 30, 2024, compared to a gain in the previous period[14] - The fair value of the Future City shopping center was approximately HKD 988,200,000 as of June 30, 2024, with rental income generated during the period amounting to approximately HKD 17,400,000[26] Employee and Governance - As of June 30, 2024, the total number of employees was approximately 114, with total employee costs around HKD 10,100,000, compared to HKD 11,200,000 for the same period ending June 30, 2023[43] - The company has maintained compliance with applicable corporate governance codes, with some deviations noted[48] - The board believes that having the same individual serve as both chairman and CEO enhances operational efficiency and execution of business strategy[47] Market Outlook and Strategy - The group will continue to closely monitor domestic and international political and economic developments, adapting to market trends and making prudent decisions[40] - The company is actively seeking potential projects aligned with its core business, including infrastructure-related ventures[40] - The audit committee has reviewed the group's unaudited consolidated financial performance for the period[49] - The company has not engaged in any buybacks or repurchases of its ordinary shares during the period[45] - There were no significant contingent liabilities or commitments as of June 30, 2024, and December 31, 2023[41]
中国城市基础设施(02349) - 2024 - 中期业绩