Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 280,177,000, a decrease of 10.2% compared to HKD 312,085,000 for the same period in 2023[3]. - The net profit for the period was HKD 25,363,000, down 20.1% from HKD 31,789,000 in the previous year[3]. - Total comprehensive income for the period was HKD 47,012,000, significantly up from HKD 14,680,000 in the same period last year, reflecting a strong recovery in foreign exchange differences[3]. - Basic and diluted earnings per share were HKD 1.05 cents, compared to HKD 1.28 cents for the same period in 2023, indicating a decline of 17.9%[5]. - The profit before tax for the six months ended September 30, 2024, was HKD 30,241,000, down from HKD 34,758,000 in the same period of 2023, representing a decline of 12.2%[34]. - The unaudited consolidated profit attributable to the company's owners was approximately HKD 25,098,000, a decrease of about HKD 5,646,000 or approximately 18% year-on-year[66]. Revenue Breakdown - Advertising revenue from newspaper publishing was HKD 202,260,000, down 13.4% from HKD 233,675,000 year-over-year[22]. - Internet subscription and advertising revenue decreased to HKD 43,685,000, a decline of 12.7% from HKD 50,082,000 in the previous year[22]. - The publishing segment's revenue was HKD 245,945,000 for the six months ended September 30, 2024, compared to HKD 283,757,000 for the same period in 2023, reflecting a decrease of 13.3%[34]. - The loan business generated revenue of HKD 25,710,000 for the six months ended September 30, 2024, compared to HKD 19,046,000 in the same period of 2023, indicating an increase of 35.4%[34]. Assets and Liabilities - Current assets totaled HKD 1,137,635,000, down from HKD 1,216,846,000 as of March 31, 2024[7]. - The net current asset value was HKD 1,049,757,000, a decrease from HKD 1,137,831,000 in the previous period[7]. - Non-current assets amounted to HKD 731,402,000, slightly down from HKD 739,925,000[8]. - The group's total assets as of September 30, 2024, were HKD 1,869,037,000, down from HKD 1,956,771,000 as of March 31, 2024[28]. - The group's total liabilities as of September 30, 2024, were HKD 171,461,000, compared to HKD 162,331,000 as of March 31, 2024, showing an increase of 5.1%[28]. - Total liabilities decreased to HKD 83,583,000 from HKD 83,316,000, indicating stable financial management[10]. - The company's equity attributable to owners was HKD 1,683,541,000, down from HKD 1,781,397,000[10]. Investment Properties - The net fair value loss on investment properties for the period was approximately HKD 10,355,000, compared to HKD 6,553,000 for the same period last year[20]. - The total value of investment properties at the end of the reporting period was HKD 369,089,000, slightly up from HKD 367,679,000 at the end of March 2024[47]. - The fair value of investment properties decreased by HKD 10,355,000 during the reporting period, reflecting market conditions[45]. - The company's investment properties in Australia were valued at HKD 226,189,000 as of September 30, 2024, compared to HKD 213,179,000 as of March 31, 2024[47]. Cash Flow and Expenses - The group's cash and cash equivalents as of September 30, 2024, amounted to HKD 540,773,000, down from HKD 560,937,000 as of March 31, 2024[28]. - The group incurred depreciation expenses of HKD 10,198,000 for the six months ended September 30, 2024, down from HKD 14,868,000 in the same period of 2023, a decrease of 31.5%[35]. - The company announced a profit tax expense of HKD 4,878,000 for the six months ended September 30, 2024, compared to HKD 2,969,000 for the same period in 2023, representing a 64% increase[39]. Dividends - The company declared a final dividend of HKD 0.03 per share and a special dividend of HKD 0.03 per share, totaling approximately HKD 143,876,000, compared to no dividends declared for the same period in 2023[41]. - The group announced an interim dividend of HKD 0.01 per share for the reporting period, to be distributed on December 27, 2024[73]. Operational Insights - The company continues to focus on resource allocation and performance review across its operating segments, including newspaper publishing and loan business[24]. - The group anticipates ongoing challenges in the media business due to a prolonged economic recovery in Hong Kong and changing advertising client strategies[86]. - The retail price of the "Oriental Daily" was increased from HKD 10 to HKD 12 to alleviate operational pressures in the media sector[86]. - The group plans to enhance its advertising offerings through innovative formats and digital technologies to attract more clients[87]. - The group is optimistic about its financing business, with steady growth in interest income from high-quality mortgage clients[89]. Employee and Management - The group has 817 employees as of September 30, 2024, down from 856 on March 31, 2024[91]. - The company has maintained strict monitoring of approved loans and receivables to mitigate credit risk, with a total of HKD 358,604,000 in overdue but unimpaired loans as of September 30, 2024[50]. Market Conditions - Local commercial property rental income remains stable, but high vacancy rates indicate continued low valuations and downward pressure on rents[87]. - The group continues to seek high-return investment opportunities in the local property market despite ongoing valuation challenges[87]. - The group has no current foreign currency hedging policy but is monitoring exchange rate risks, particularly with the Australian dollar[90]. Miscellaneous - The company has not made any acquisitions or disposals of investment properties during the reporting period[20]. - The group had no significant investments or acquisitions of subsidiaries, associates, or joint ventures during the reporting period[69]. - No significant events affecting the group occurred after the reporting period[97].
东方企控集团(00018) - 2025 - 中期业绩