Financial Performance - The company reported a total revenue of HKD 217,328,000 for the six months ended September 30, 2024, representing an increase of 4% compared to HKD 207,731,000 in the same period last year[5]. - Customer contract revenue decreased significantly to HKD 13,033,000, down 57% from HKD 30,260,000 year-on-year[5]. - Interest income calculated using the effective interest method increased to HKD 178,985,000, up 12% from HKD 159,241,000 in the previous year[5]. - The company recorded a net loss of HKD 56,602,000 in other income and losses, compared to a loss of HKD 5,163,000 in the prior year[5]. - The pre-tax profit was HKD 63,508,000, with income tax expenses of HKD 12,677,000, resulting in a net profit of HKD 50,831,000, down 49% from HKD 100,289,000 last year[5]. - Total comprehensive income for the period amounted to HKD 83,885,000, compared to HKD 75,716,000 in the previous year, reflecting an increase of 11%[7]. - The company’s basic earnings per share decreased to HKD 0.33 from HKD 0.80 in the previous year, indicating a decline of 59%[8]. - Profit attributable to the company's owners for the same period was approximately HKD 31.4 million, a decrease from HKD 77 million in the previous year, primarily due to increased impairment losses on receivables and investment properties[86]. Assets and Liabilities - The total assets as of September 30, 2024, were HKD 6,961,364,000, slightly up from HKD 6,946,048,000 as of March 31, 2024[11]. - Total assets as of September 30, 2024, amounted to HKD 7,345,346,000, an increase from HKD 7,231,740,000 as of March 31, 2024[32]. - Total liabilities as of September 30, 2024, were HKD 388,087,000, compared to HKD 289,792,000 as of March 31, 2024[32]. - Accounts receivable as of September 30, 2024, totaled HKD 1,715,847,000, a decrease from HKD 1,864,483,000 as of March 31, 2024[53]. - The company reported a loss provision of HKD 613,961,000 against accounts receivable as of September 30, 2024, compared to HKD 554,775,000 as of March 31, 2024[53]. - The group’s net current assets decreased to approximately HKD 5,108.3 million from HKD 5,163.5 million as of March 31, 2024[104]. - The liquidity ratio (current assets/current liabilities) was 14.3 times as of September 30, 2024, down from 19.1 times as of March 31, 2024[104]. Cash Flow - Net cash generated from operating activities for the six months ended September 30, 2024, was HKD 210,387, a decrease of 40% compared to HKD 350,896 in the same period last year[17]. - Net cash used in investing activities was HKD (200,088), compared to HKD (47,849) in the previous year, indicating a significant increase in investment outflows[17]. - Net cash used in financing activities was HKD (68,574), down from HKD (159,466) year-on-year, reflecting improved cash management in financing[17]. - The total cash and cash equivalents at the end of the period decreased to HKD 2,713,058 from HKD 2,742,096, showing a slight decline in liquidity[17]. Dividends - The company declared dividends of HKD 48,314,000, down from HKD 96,628,000 in the previous year, reflecting a 50% reduction[8]. - The board has decided not to declare any interim dividend for the six months ended September 30, 2024, compared to HKD 0.005 per share in the previous year[85]. Business Segments - The company is engaged in various business segments, including lending, property development, and financial services, which are crucial for its revenue generation[19]. - The company has a significant focus on investment holding and financial services, which are key drivers for its future growth and market expansion strategies[19]. - Interest income from margin financing, lending, and property rental increased during the period, contributing to overall revenue growth[86]. - The property investment segment recorded a loss of approximately HKD 49.2 million, compared to a profit of HKD 25.3 million in the previous year, primarily due to a fair value loss of HKD 64.6 million on investment properties[99]. - Rental income for the property investment segment was approximately HKD 22 million, an increase from HKD 13.2 million in the previous year[99]. Risk Management - The company faced credit risk primarily from the potential inability of counterparties to fulfill their obligations, with ongoing monitoring and risk assessment in place[78]. - The company believes that the accounts receivable and loans are recoverable and possess good credit quality based on repayment records and collateral provided[65]. - The company reported that 72% of total loans and advances were concentrated among the top five borrowers, highlighting a significant credit risk concentration[63]. Corporate Governance - The company has complied with the corporate governance code principles as per the listing rules during the reporting period[126]. - The audit committee reviewed the unaudited condensed consolidated interim financial statements for the six months ended September 30, 2024[127]. - The company has confirmed that all directors have complied with the required standards of the securities trading code during the review period[129]. - No changes in director information have been reported since the last annual report[130]. Future Outlook - Management remains cautiously optimistic about future business development and overall performance, focusing on identifying quality investment properties in Asia and Europe[102].
结好控股(00064) - 2025 - 中期财报