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[4]. - 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 company reported a loss attributable to owners of the company of HKD 67,730,000, down from HKD 186,884,000 in the previous year[6]. - 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 operating loss for the period was HKD 65,566,000, significantly improved from HKD 114,792,000 in the previous year[4]. 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, compared to HKD 30,151,000 in the previous period, reflecting a slight increase[36]. - Property investment business generated revenue of HKD 15,301,000, up from HKD 14,454,000, indicating a growth of approximately 5.8%[36]. - The total revenue for the group was HKD 46,130,000, an increase from HKD 44,605,000, representing a growth of about 3.4%[36]. - 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]. 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[4]. - The total assets decreased to HKD 1,446,913,000 from HKD 1,564,676,000 as of March 31, 2024[16]. - The total liabilities of the group decreased to HKD 341,262,000 from HKD 395,899,000, showing a reduction of approximately 13.8%[42]. - As of September 30, 2024, the group's total borrowings were approximately HKD 237,111,000, with a debt-to-asset ratio of 16.4%[94]. Cash Flow and Financing - 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's cash and cash equivalents were HKD 109,865,000, insufficient to cover the bank and other borrowings due within twelve months[118]. - Management aims to recover receivables of approximately HKD 192,480,000 to improve future operating cash flow[28]. - The company is actively negotiating with lenders for the renewal of bank and other borrowings[28]. - A major shareholder has agreed to provide financial support for the company's operations for the next twelve months[28]. Dividends and Shareholder Information - The company did not recommend an interim dividend for the six months ended September 30, 2024, consistent with the previous year[4]. - The board has resolved not to declare any interim dividend for the six months ended September 30, 2024[1][110]. Impairments and Provisions - The company incurred a loss of HKD 27,345 million in provisions for expected credit losses, compared to a gain of HKD 98 million in the previous year[56]. - The company reported a loss of HKD 1,079 million in impairment losses on property, plant, and equipment for the current period[56]. - The expected credit loss provision for trade and other receivables was approximately HKD 27,345,000, compared to a reversal of HKD 98,000 in the previous year[77]. Corporate Governance and Compliance - The company has taken sufficient measures to ensure that its corporate governance practices are not less stringent than the code provisions[113]. - The company confirmed compliance with the standard code for securities trading as of September 30, 2024[114]. - The audit committee, consisting of Mr. He Yao Yu, Mr. Gao Ming Dong, and Mr. Wu Zhi Bin, reviewed the interim financial statements[115]. Future Outlook and Risks - The independent auditor's report indicated significant uncertainties regarding the group's ability to continue as a going concern[118]. - The group continues to monitor foreign exchange risks and has not entered into any hedging instruments[1][105].
润中国际控股(00202) - 2025 - 中期业绩