Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 1,632 million, representing a 63% increase compared to HKD 1,000 million in the same period last year[2]. - Loss attributable to shareholders decreased to HKD 239 million, a 61% improvement from a loss of HKD 619 million in the previous year[2]. - Basic loss per share improved to HKD 0.28, down from HKD 0.74, reflecting a 61% reduction in losses[3]. - The total comprehensive loss for the period was HKD 465 million, significantly lower than HKD 3,031 million in the previous year[5]. - The company reported a net loss of HKD (239,425) for the six months ended September 30, 2024, compared to a net loss of HKD (618,645) in the same period last year, showing an improvement of about 61%[41]. Assets and Liabilities - Total assets as of September 30, 2024, were HKD 37,316 million, a decrease of 2% from HKD 38,212 million as of March 31, 2024[2]. - Net asset value decreased by 3% to HKD 17,652 million from HKD 18,118 million[2]. - The debt-to-revalued net asset ratio improved to 60% from 62%[2]. - Non-current assets as of September 30, 2024, totaled HKD 24,877,967, slightly down from HKD 25,107,873 as of March 31, 2024[31]. - The company’s borrowings stood at HKD 17,165,224 as of September 30, 2024, reflecting a stable debt position[28]. - The net debt was HKD 15.6 billion, a decrease from HKD 16.4 billion as of March 31, 2024, with a debt ratio of approximately 60%[64]. Revenue Breakdown - Revenue contributions by segment included property sales at HKD 1,005,840, property leasing at HKD 58,135, hotel operations at HKD 158,305, financial investments at HKD 384,774, and other income at HKD 24,870[25]. - The group recorded a revenue increase of 63% to HKD 1,632,000,000 for the first half of the fiscal year, primarily due to the property sales from "Landmark on Robson" in Canada[49]. Investment Performance - The net investment loss for the six months ended September 30, 2024, was HKD (390,597), a significant decrease from HKD (1,782,019) in the same period of 2023, indicating improved investment performance[32]. - The company reported a fair value loss on investment properties of HKD (245,485) during the period[25]. - The net realized gains from financial assets measured at fair value through profit or loss amounted to HKD 300,579, an increase from HKD 221,104 in the previous year, representing a growth of approximately 36%[34]. Operational Highlights - The group reported a gross profit of HKD 927 million, slightly up from HKD 925 million year-on-year[3]. - Operating profit turned positive at HKD 19 million, compared to an operating loss of HKD 923 million in the previous year[3]. - The average hotel occupancy rate was 88%, up from 84% in 2023, despite a decline in room rates due to changing consumption patterns of mainland visitors[59]. - The group anticipates a recovery in hotel operations as visitor numbers to Hong Kong increase, supported by government initiatives to promote tourism[68]. Corporate Governance and Future Outlook - The company plans to adopt revised accounting standards effective from April 1, 2025, which may impact future financial reporting[1]. - The group actively engaged in debt management discussions to extend repayment periods and reduce interest rates on its financial investments[62]. - The group has adhered to the corporate governance code principles as outlined in the listing rules[73]. - The audit committee reviewed the group's unaudited interim results for the six months ending September 30, 2024[74].
汇汉控股(00214) - 2025 - 中期业绩