Financial Performance - Revenue for the six months ended September 30, 2024, was approximately HKD 1.585 million, a decrease of about 20% compared to the same period last year[1]. - Loss attributable to the company's owners for the period was approximately HKD 36.9 million, compared to a loss of approximately HKD 793.5 million in the same period last year[2]. - Gross profit for the period was HKD 1.585 million, down from HKD 1.797 million in the previous year[2]. - Basic and diluted loss per share for the period was HKD 8.90, compared to HKD 191.4 in the same period last year[3]. - The group reported a pre-tax loss of HKD 37,133 million for the six months ended September 30, 2024, compared to a pre-tax loss of HKD 795,650 million in the same period of 2023[15]. - The group recognized a net loss from foreign exchange of HKD 585 million for the six months ended September 30, 2024, compared to a loss of HKD 1 million in the same period of 2023[15]. - The group reported total other income of HKD 4,088 million for the six months ended September 30, 2024, a substantial increase from HKD 287 million in 2023[12]. - The group incurred a total financial cost of HKD 14,391 million for the six months ended September 30, 2024, down from HKD 46,545 million in 2023, indicating a decrease of approximately 69.1%[13]. Assets and Liabilities - The net debt to total equity ratio as of September 30, 2024, was 35.5%, up from 33.2% as of March 31, 2024[1]. - The company's net assets as of September 30, 2024, were HKD 1.258 billion, down from HKD 1.289 billion as of March 31, 2024[5]. - The total assets less current liabilities as of September 30, 2024, were HKD 1.355 billion, compared to HKD 1.374 billion as of March 31, 2024[5]. - Total current assets as of September 30, 2024, were HKD 1.445 billion, slightly up from HKD 1.442 billion as of March 31, 2024[4]. - The net debt as of September 30, 2024, was approximately HKD 447.3 million, an increase from HKD 428.3 million as of March 31, 2024[38]. - The debt-to-equity ratio increased from 33.2% to 35.5% during the reporting period[38]. - As of September 30, 2024, the total bank and other borrowings amounted to HKD 244.5 million, a decrease from HKD 267.1 million as of March 31, 2024[39]. - The long-term borrowings accounted for approximately 27.0% of total borrowings, up from 20% as of March 31, 2024, while short-term borrowings represented 73.0%, down from 80%[39]. Expenses - Administrative expenses decreased to HKD 26.1 million from HKD 37.3 million year-on-year[2]. - The group’s depreciation expense for property, plant, and equipment was HKD 184 million for the six months ended September 30, 2024, compared to HKD 301 million in 2023, reflecting a decrease of about 38.9%[15]. - Interest expenses on bank loans for the six months ended September 30, 2024, amounted to HKD 3,137 million, significantly lower than HKD 36,241 million in 2023, reflecting a decrease of approximately 91.4%[13]. Revenue Sources - Rental income from fixed payments for the six months ended September 30, 2024, was HKD 1,585 million, down from HKD 1,911 million in 2023, indicating a decrease of about 17.0%[11]. - The company had no revenue from property sales during the period, compared to HKD 100,000 in the previous year[30]. - The group has no recorded contract sales during the period, compared to HKD 1.6 million in the same period last year[24]. Employee and Operational Insights - The group has approximately 82 employees as of September 30, 2024, an increase from 40 employees in the previous year, with employee costs totaling HKD 12.1 million[44]. - The overall business environment remains challenging due to a weak global economic outlook, despite signs of improvement in the Chinese economy[45]. - The group will continue to monitor the real estate market and adjust its business strategies according to government policies[45]. - The group plans to continue exploring opportunities in urban redevelopment and has established a wholly-owned subsidiary focused on artificial intelligence projects, currently in the initial R&D phase[46]. Dividends and Securities - The board does not recommend the distribution of an interim dividend for the six months ending September 30, 2024, compared to no dividend in the previous year[49]. - The group has not engaged in any purchase, sale, or redemption of its listed securities during the period[50]. Future Strategies - The company is focused on expanding its market presence and enhancing its product offerings[52]. - Future strategies will include new product development and potential mergers and acquisitions to drive growth[52].
沿海家园(01124) - 2025 - 中期业绩