Financial Performance - The company reported a loss attributable to equity holders of HKD 176,200,000 for the six months ended September 30, 2024[2]. - Revenue for the six months ended September 30, 2024, was HKD 20,940,000, a decrease from HKD 70,601,000 in the same period of 2023, representing a decline of approximately 70.3%[6]. - The gross profit for the period was HKD 10,915,000, compared to a gross loss of HKD 47,254,000 in the previous year[6]. - The operating loss for the period was HKD 206,526,000, slightly improved from a loss of HKD 226,208,000 in the prior year[6]. - The basic and diluted loss per share was HKD 0.0751, compared to HKD 0.0891 in the same period last year[6]. - Total comprehensive loss for the period amounted to HKD 104,673,000, down from HKD 376,621,000 in the previous year[13]. - The company reported a net loss of HKD 177,330 million for the period, with a substantial operating loss of HKD 206,526 million[36]. - The group reported a net loss of HKD 176,184,000 for the period, an improvement from a loss of HKD 209,010,000 in 2023[50]. - The company reported a loss attributable to equity holders of HKD 176,200,000, a reduction of approximately 15.7% from HKD 209,000,000 in 2023, with a loss per share of HKD 0.0751[67]. Cash and Liquidity - The group recorded a cash net amount of HKD 288,000,000, with total cash reserves of HKD 541,000,000, and bank borrowings of HKD 253,000,000[2]. - The company reported a net cash position of HKD 518,693,000 as of September 30, 2024, down from HKD 920,141,000 at the end of the previous fiscal year[17]. - Cash and bank balances amount to HKD 518,700,000, a decrease from HKD 920,100,000 as of March 31, 2024[96]. - The group has a net cash position of HKD 288,000,000 as of September 30, 2024, compared to HKD 286,500,000 as of March 31, 2024[96]. Assets and Liabilities - The company's total assets less current liabilities stood at HKD 3,868,721,000 as of September 30, 2024[17]. - As of September 30, 2024, total equity amounted to HKD 3,428,956,000, an increase from HKD 3,324,283,000[18]. - Non-current liabilities, including long-term bank loans and deferred tax liabilities, totaled HKD 489,762,000, compared to HKD 544,438,000 in the previous period[18]. - Total assets as of March 31, 2024, were HKD 4,694,987 million, with total liabilities at HKD 1,266,031 million, indicating a stable financial position[38]. - The group reported a net asset value attributable to equity holders of HKD 3,235,800,000, with a net asset value per share of HKD 1.38 as of September 30, 2024[95]. Revenue Breakdown - Total revenue for the period was HKD 20,940,000, a decrease from HKD 70,601,000 in the previous year[33]. - Rental income and management fees amounted to HKD 10,388,000, up from HKD 9,902,000 year-over-year, representing a growth of approximately 4.9%[33]. - Sales of cemetery assets reached HKD 10,255,000, compared to HKD 9,060,000 in the prior year, indicating an increase of about 13.2%[33]. - Revenue for Hong Kong in 2024 was HKD 3,295,000, down 44.8% from HKD 5,979,000 in 2023[40]. - Revenue from China increased to HKD 11,235,000 in 2024, up 12.4% from HKD 9,995,000 in 2023[40]. Impairments and Expenses - The company recognized a significant impairment loss of HKD 154,186 million on investment properties, impacting overall financial performance[36]. - Administrative expenses and other operating costs were approximately HKD 65,700,000, up from HKD 38,800,000 in 2023, with a significant impairment provision of HKD 35,700,000 recorded for a project in Anshan[65]. - The fair value loss on investment properties was HKD 154,200,000, compared to HKD 74,100,000 in 2023, primarily from properties in Anshan, Liaoning Province[64]. Investments and Future Plans - The company holds a portfolio of investment properties in Hong Kong, China, and Malaysia, providing stable and recurring rental income[69]. - The company plans to explore suitable opportunities to sell investment properties to strengthen cash reserves and financial position[80]. - The company is preparing to rent out several residential units in "Xian Gan" to generate rental income and improve utilization[81]. - The company has obtained comprehensive sales licenses for "Ju Fu Bao," allowing sales not only in China but also to overseas Chinese and residents in Hong Kong, Macau, and Taiwan[90]. Governance and Compliance - The company has complied with the listing rules and established an audit committee to oversee financial reporting and risk management[104]. - The board of directors includes four executive directors and three independent non-executive directors, ensuring a diverse governance structure[107].
庄士中国(00298) - 2025 - 中期业绩