Financial Performance - Total revenue for the six months ended September 30, 2024, was HKD 93,409,000, an increase of approximately 5.1% compared to HKD 88,864,000 in the same period of 2023[4] - The profit attributable to the company's owners was HKD 184,000, representing an improvement of approximately 100.4% from a loss of HKD 51,740,000 in the same period of 2023[4] - Core profit after tax (excluding fair value losses on investment properties) increased from HKD 38,960,000 in 2023 to HKD 73,884,000 in the current period[4] - Earnings per share for the current period was HKD 0.05, compared to a loss of HKD 12.78 per share in the same period of 2023[6] - The group reported a consolidated profit before tax of HKD 7,351,000, compared to a loss of HKD 44,397,000 in the previous year[22] - Basic earnings per share for the period were HKD 0.45, a recovery from a loss of HKD 0.128 in the previous year[34] Dividends - Interim dividend declared was HKD 0.03 per share, up from HKD 0.025 per share in 2023[3] - The company declared an interim dividend of HKD 0.03 per share, totaling HKD 12,150,000, compared to HKD 10,125,000 in the same period last year[33] - The company declared an interim dividend of HKD 0.03 per share, up from HKD 0.025 per share in the same period last year[57] Revenue Breakdown - Total revenue for the period reached HKD 93,409,000, with warehouse operations contributing HKD 7,789,000, property investment contributing HKD 55,777,000, and financial investment contributing HKD 29,843,000, reflecting a 24.9% increase in financial investment revenue compared to the previous year[47] - Warehouse operation revenue decreased to HKD 7,789,000 from HKD 9,000,000 in the previous year[6] - Investment property income remained stable at HKD 55,777,000 compared to HKD 55,976,000 in the previous year[6] - Financial investment revenue increased significantly to HKD 29,843,000, compared to HKD 23,888,000 in the previous year[22] Assets and Liabilities - The total assets of the group as of September 30, 2024, amounted to HKD 4,027,109,000, with total liabilities of HKD 165,446,000[25] - The net asset value of the company is HKD 3,861,663,000, with financial assets at fair value increasing by about 30.5% to HKD 229,210,000 due to investments in bonds and Hong Kong stocks[50] - The total trade receivables as of September 30, 2024, were HKD 6,689,000, an increase from HKD 5,073,000 in March 2024[37] Operational Challenges - Warehouse operations revenue decreased to HKD 7,789,000, down 13.5% from HKD 9,000,000 in the same period last year[41] - The group’s warehouse storage volume dropped to approximately 9,000 cubic meters, the lowest since the pandemic began in 2020[41] - The warehouse operations segment experienced a revenue decline of approximately 13.5% compared to the previous year, indicating challenges in the local rental market[47] - The outlook for the warehouse business remains pessimistic due to weak local consumption and cautious storage strategies adopted by logistics clients[45] Cash and Liquidity - Cash and bank deposits as of September 30, 2024, totaled HKD 857,963,000, slightly down from HKD 865,397,000 as of March 31, 2024[3] - The liquidity ratio improved to approximately 18.81 times, with total cash and deposits remaining stable at HKD 857,963,000[51] Corporate Governance - The company has not signed formal appointment letters with its directors, but they are subject to rotation and re-election according to the company's articles of association[62] - The company secretary has been reporting to the executive director due to the vacancy of the chairman and CEO positions since April 2015[62] - The chairman's position has been vacant since April 2015, and the executive director will serve as the chairman for the upcoming annual general meeting on August 19, 2024[62] - The company has adopted the standard code of conduct for directors' securities trading as per the listing rules, and all directors have confirmed compliance during the period[64] Future Outlook - The company is exploring several investment opportunities while maintaining a cautious financial strategy, aiming to provide higher returns to shareholders in the next economic upturn[46] - The interim results announcement and report for the six months ending September 30, 2024, will be published on the Hong Kong Stock Exchange and the company's website[65]
安全货仓(00237) - 2025 - 中期业绩