天安(00028) - 2024 - 中期财报

Financial Performance - Revenue for the six months ended June 30, 2024, was HK$1,549,382,000, an increase of 37.2% compared to HK$1,129,178,000 in the same period of 2023[10] - Gross profit for the period was HK$542,115,000, up 32.1% from HK$410,280,000 year-on-year[10] - Profit for the period attributable to owners of the Company was HK$78,056,000, a decrease of 86.5% from HK$577,222,000 in the previous year[13] - Basic earnings per share decreased to HK$5.32 from HK$39.37, reflecting a significant decline in profitability[13] - The Group reported a profit before tax of HK$232,010,000, a decrease of 66.6% from HK$693,446,000 in the previous year[10] - Profit for the period decreased to HK$134,154,000, down 77.0% from HK$581,231,000 in the same period last year[22] - Other comprehensive expense totaled HK$14,206,000, compared to an expense of HK$806,831,000 in the previous year[22] - Total comprehensive income for the six months ended June 30, 2024, was HK$1,038,398,000, with profit for the period at HK$640,148,000[41] Assets and Liabilities - Non-current assets amounted to HK$34,653,297,000, slightly down from HK$35,028,430,000 at the end of 2023[26] - Current assets increased to HK$19,613,638,000, up from HK$18,429,627,000 at the end of 2023[29] - Total liabilities increased to HK$17,133,173,000 from HK$15,646,740,000 at the end of 2023[29] - Net current assets decreased to HK$2,480,465,000 from HK$2,782,887,000 at the end of 2023[29] - Total equity attributable to owners of the Company decreased to HK$26,974,325,000 from HK$27,217,517,000 at the end of 2023[29] - Interest-bearing borrowings increased to HK$2,055,867,000 from HK$1,873,703,000 at the end of 2023[29] - Cash and cash equivalents decreased to HK$7,010,829,000 from HK$8,039,801,000 at the end of 2023[29] Operational Costs - Total administrative expenses increased to HK$263,624,000 from HK$158,100,000, indicating a rise in operational costs[10] - The finance costs for the period were HK$78,369, reflecting an increase from the previous year's costs[88] - Current tax expenses for the six months ended June 30, 2024, totaled HK$133,146, compared to HK$108,259 in 2023[91] Investment and Acquisitions - The acquisition of Tian An Medicare Limited on October 5, 2023, expanded the Group's presence in the PRC healthcare sector[65] - The Group recognized other income and gains amounting to HK$120,949,000, contributing positively to the overall financial performance[79] - The Group's operations are primarily focused on four main segments: property development, property investment, healthcare, and other operations, with significant revenue derived from activities in the PRC and Hong Kong[73] Cash Flow and Financing Activities - The company reported a net cash used in operating activities of HK$ (20,440) thousand, a significant decrease compared to HK$ 992,771 thousand in the same period of 2023[50] - The net cash used in financing activities was HK$ (617,689) thousand, reflecting a repayment of bank and other loans of HK$ (1,176,868) thousand[52] - The company distributed dividends of HK$ (293,214) thousand, a decrease from HK$ (366,517) thousand in the previous year[52] Legal and Regulatory Matters - The Group is currently facing a claim for compensation of approximately RMB143 million (equivalent to about HK$157,143,000) related to a lawsuit, which the Group believes has no legal basis and will not materially impact its financial position[152] - A bank has initiated legal proceedings against a joint venture of the Group for outstanding loans and interest totaling approximately HK$236,188,000, with the first court ruling in favor of the bank[150] Accounting Policies and Financial Reporting - The change in accounting policy does not impact the Group's profit or loss or earnings per share for the six months ended June 30, 2023, and June 30, 2024[62] - The Group has applied amendments to HKFRSs for the first time, which are mandatorily effective for the annual period beginning on January 1, 2024[58] - The condensed consolidated financial statements have been prepared on the historical cost basis except for certain properties and financial instruments measured at fair values[62] - The Group's auditor's report for the financial statements for the year ended December 31, 2023, was unqualified and did not include any emphasis of matter[62] Fair Value Measurements - The fair value of financial assets at FVTPL decreased from HK$745,480,000 on January 1, 2023, to HK$726,901,000 on June 30, 2023, and increased to HK$826,818,000 by December 31, 2023[175] - The fair value of unlisted fund investments classified as financial assets at PVTPL increased from HK$25,776,000 to HK$40,224,000, representing a growth of 56.8%[162] - The fair value of equity securities listed in the PRC classified as equity instruments at FVTOCl was HK$13,632,000, down from HK$14,868,000, a decrease of 8.3%[162] Management and Governance - The review was conducted in accordance with Hong Kong Standard on Review Engagements 2410, focusing on interim financial information[200] - The review aims to provide a level of assurance on the financial information presented[200] - The Directors consider that the carrying amounts of other financial assets and financial liabilities recorded at amortised cost approximate their fair values[178]