Financial Performance - For the six months ended June 30, 2024, the company reported a revenue of HKD 144,185,000, a 1% increase from HKD 142,565,000 in 2023[2] - The loss attributable to equity holders was HKD 43,740,000, compared to a profit of HKD 125,809,000 in 2023, representing a 135% decline[3] - The company recorded a total comprehensive expense of HKD 202,000,000, compared to total comprehensive income of HKD 165,800,000 in 2023[3] - Revenue for the six months ended June 30, 2024, was HKD 121,532, a slight decrease of 0.4% compared to HKD 122,062 in 2023[17] - The company reported a significant operating loss of HKD 26,359, compared to an operating profit of HKD 144,320 in the same period last year[17] - The company reported a loss attributable to equity holders of HKD 43,740,000 for the six months ended June 30, 2024, compared to a profit of HKD 125,809,000 in 2023[48] - The basic and diluted loss per share for the period was HKD (1.29), down from HKD 3.70 in the previous year[48] Investment Properties - The net loss from fair value changes of investment properties was HKD 142,709,000, a significant increase of 597% from a gain of HKD 28,703,000 in 2023[2] - The fair value change of investment properties resulted in a loss of HKD 141,000, contrasting with a gain of HKD 31,000 in the prior year[17] - Investment properties decreased in fair value from HKD 2,421,000,000 as of December 31, 2023, to HKD 2,280,000,000 as of June 30, 2024, reflecting a change of HKD (141,000,000)[52] - The total carrying value of the group's investment properties was HKD 2,125,000,000 as of June 30, 2024, down from HKD 2,256,000,000 at the end of 2023[52] Assets and Liabilities - Total assets decreased to HKD 5,071,609 from HKD 5,301,435 as of December 31, 2023[19] - The company's total liabilities as of June 30, 2024, were HKD 107,167,000, compared to HKD 90,788,000 as of December 31, 2023, reflecting an increase of 17.93%[40] - Total equity decreased to HKD 4,964,442 from HKD 5,210,647 as of December 31, 2023[19] - The group's net current assets as of June 30, 2024, were HKD 539,700,000, an increase from HKD 483,500,000 as of December 31, 2023[7] Income and Expenses - Other income increased to HKD 22,653, up 10.5% from HKD 20,503 in the previous year[17] - Financial income from bank interest increased significantly to HKD 1,856,000 from HKD 338,000, marking a growth of 448.53%[44] - The company incurred employee benefit expenses of HKD 12,269,000, a decrease from HKD 13,003,000 in the previous year, representing a reduction of 5.64%[43] - The remuneration and other employee benefits for key management personnel for the six months ended June 30, 2024, were HKD 8,726,000, compared to HKD 8,197,000 for the same period in 2023, reflecting an increase of about 6.4%[67] Shareholder Information - The company declared a dividend payment of HKD 44,158 during the period, reflecting ongoing shareholder returns despite the operational losses[22] - The company declared no interim dividend for the six months ending June 30, 2024, consistent with the previous year[49] - The company reported a year-end dividend of HKD 0.70 per share for 2023, along with a special dividend of HKD 0.60 per share[50] Investment Strategy - The company has reduced its investments in emerging market stocks while increasing investments in investment-grade U.S. bonds[6] - The investment portfolio, including cash, increased by approximately 6% for the six months ended June 30, 2024[6] - As of August 15, 2024, the investment portfolio has risen 8% year-to-date, with a total value of approximately USD 57,800,000 or HKD 450,800,000[6] Financial Risk Management - The group faces various financial risks, including market risk, credit and counterparty risk, and liquidity risk, with no changes to risk management policies since the end of the last fiscal year[31] - The group’s financial risk management plan focuses on minimizing potential adverse impacts on financial performance due to market unpredictability[31] Corporate Governance - The audit committee reviewed the group's accounting principles and practices for the six months ended June 30, 2024[16] - The group has adopted accounting policies consistent with those used in the annual financial statements for the year ended December 31, 2023[29] - The group does not anticipate any significant impact on its financial performance from the newly issued accounting standards and amendments effective from January 1, 2025, and later[30] Employment and Staffing - The group employed 13 staff members as of June 30, 2024, with salaries reviewed annually[12] - The group did not purchase, sell, or redeem any of its shares during the period[8] Joint Ventures and Partnerships - The company is actively negotiating with its joint venture partner in Shanghai to resolve issues related to land use rights[5] - The balance of amounts receivable from joint ventures decreased to HKD 401,000 as of June 30, 2024, from HKD 758,000 as of December 31, 2023, indicating a decline of approximately 47%[67]
NANYANG HOLD(00212) - 2024 - 中期财报