Financial Performance - The company reported a loss of HKD 67,741,000 for the six months ended September 30, 2024, a decrease of 63.8% compared to the same period in 2023[2]. - The total comprehensive loss for the period was HKD 63,126,000, compared to HKD 243,055,000 in the same period last year[11]. - The group reported a net loss of approximately HKD 67,741,000 for the six months ending September 30, 2024, compared to a net loss of HKD 186,896,000 for the same period in 2023[26]. - The loss for the period, including both continuing and discontinued operations, was approximately HKD 67,741,000, a decrease of about 63.8% from HKD 186,896,000 in the previous year[77]. - The pre-tax loss for the group was HKD 81,216,000, compared to a pre-tax loss of HKD 128,653,000 for the same period last year, indicating an improvement[36]. - The company reported a significant loss of HKD 67,730 million for the six months ended September 30, 2024, compared to a loss of HKD 186,884 million in the same period of 2023[64]. Revenue and Operations - Revenue from continuing operations for the six months was HKD 46,130,000, compared to HKD 44,605,000 in the same period last year, reflecting an increase of 3.4%[4]. - Total revenue for the agricultural business reached HKD 30,829,000, while property investment business generated HKD 15,301,000, resulting in a total revenue of HKD 46,130,000 for the six months ended September 30, 2024[36]. - The group's revenue from continuing operations for the six months ended September 30, 2024, was approximately HKD 46,130,000, an increase of about 3.4% compared to HKD 44,605,000 for the same period last year[77]. - Revenue for the six months ended September 30, 2024, was HKD 46,130 million, an increase of 3.4% compared to HKD 44,605 million for the same period in 2023[53]. - Property rental income increased to HKD 15,301 million, up 5.8% from HKD 14,454 million in the previous year[53]. - The group’s total revenue from external customers in China was HKD 15,301,000, while Bolivia contributed HKD 30,829,000, totaling HKD 46,130,000 for the six months ended September 30, 2024[50]. Assets and Liabilities - Total equity as of September 30, 2024, was HKD 1,105,651,000, down 5.4% from HKD 1,168,777,000 on March 31, 2024[2]. - The group's total assets decreased from HKD 1,564,676,000 as of March 31, 2024, to HKD 1,446,913,000 as of September 30, 2024[41]. - The group reported a total liability of HKD 341,262,000, down from HKD 395,899,000 as of March 31, 2024, reflecting a decrease in overall liabilities[42]. - As of September 30, 2024, the group had short-term bank and other borrowings of approximately HKD 237,111,000, which are due within twelve months[28]. - As of September 30, 2024, the group's short-term bank and other borrowings amounted to approximately HKD 237,111,000[118]. - The group's cash and cash equivalents were HKD 109,865,000, insufficient to cover the bank and other borrowings due within twelve months[118]. Cash Flow and Financial Position - Cash and cash equivalents increased to HKD 109,865,000 from HKD 24,918,000 as of March 31, 2024[14]. - The group's cash and cash equivalents amounted to approximately HKD 109,865,000 as of September 30, 2024, an increase from HKD 24,918,000 as of March 31, 2024[26]. - The group aims to recover other receivables of HKD 192,480,000 to improve future operating cash flow[97]. - Management aims to recover receivables of approximately HKD 192,480,000 to improve future operating cash flow[28]. - The expected credit loss provision for trade and other receivables was approximately HKD 27,345,000, compared to a reversal of approximately HKD 98,000 in the previous year[77]. Dividends and Shareholder Support - The company did not declare an interim dividend for the six months ended September 30, 2024, consistent with the previous year[2]. - The board has resolved not to declare any interim dividend for the six months ending September 30, 2024[110]. - A major shareholder has agreed to provide financial support for the company's operations for the next twelve months[28]. - A major shareholder has agreed to provide financial support for the group's operations over the next twelve months[97]. Operational Strategies and Future Outlook - The group will continue to implement measures to control administrative costs and manage capital expenditures[28]. - The group plans to adopt various measures to enhance rental income levels and closely monitor market conditions, with potential asset disposals to improve operational liquidity[86]. - The financial statements have been prepared based on the going concern basis, considering future cash flow forecasts[29]. - The independent auditor's report indicated no reservations regarding the interim financial statements, but highlighted significant uncertainties regarding the group's ability to continue as a going concern[117][118]. Employment and Staffing - The group employed approximately 100 staff as of September 30, 2024, down from 115 as of March 31, 2024[109].
润中国际控股(00202) - 2025 - 中期业绩