Revenue and Income - Revenue for the six months ended September 30, 2024, was HKD 12,261,000, an increase of 3.8% compared to HKD 11,815,000 for the same period in 2023[3]. - Other income and gains rose to HKD 2,116,000, up 54.2% from HKD 1,372,000 year-on-year[3]. - Total revenue for the six months ended September 30, 2024, was HKD 12,261,000, compared to HKD 11,815,000 for the same period in 2023, representing an increase of 3.77%[29]. - Rental income and dividend income from listed securities amounted to HKD 7,597,000 for the six months ended September 30, 2024, up from HKD 7,213,000 in 2023, reflecting a growth of 5.33%[29]. - The group’s securities investment segment reported revenue of HKD 4,664,000 for the six months ended September 30, 2024, compared to HKD 4,602,000 in 2023, indicating a growth of 1.35%[24]. - The property leasing segment generated revenue of HKD 7,585,000 for the six months ended September 30, 2024, compared to HKD 7,213,000 in 2023, marking an increase of 5.14%[24]. - Dividend income increased by approximately HKD 62,000 (or 1.3%) to about HKD 4,664,000 compared to the same period last year[85]. Loss and Financial Performance - Loss before tax decreased significantly to HKD 10,198,000 from HKD 30,481,000, representing a reduction of 66.6%[3]. - The net loss attributable to shareholders for the period was HKD 10,903,000, a substantial improvement from HKD 31,107,000 in the previous year, marking a 65.0% decrease[3]. - Total comprehensive loss for the period was HKD 508,000, a significant recovery from a comprehensive loss of HKD 37,582,000 in the same period last year[4]. - The group recorded a loss of approximately HKD 10,903,000, a reduction of about HKD 20,204,000 (or 65.0%) compared to the same period last year, primarily due to a shift from loss to profit in fair value of equity instruments[77]. - The group recorded a fair value loss of approximately HKD 35,706,000 on investment properties, compared to a loss of HKD 30,000,000 for the same period last year[82]. Assets and Liabilities - Total assets less current liabilities amounted to HKD 1,073,901,000, a slight decrease from HKD 1,080,466,000 as of March 31, 2024[6]. - Total assets as of September 30, 2024, were HKD 1,081,938,000, a decrease from HKD 1,100,257,000 as of March 31, 2024[26]. - Total liabilities as of September 30, 2024, were HKD 9,709,000, compared to HKD 22,720,000 as of March 31, 2024[26]. - The company's equity totaled HKD 1,072,229,000, down from HKD 1,077,537,000 at the end of the previous reporting period[6]. - As of September 30, 2024, the total net trade and other receivables amounted to HKD 3,185,000, compared to HKD 778,000 as of March 31, 2024[46]. - The company’s investment properties had a carrying value of HKD 500,000,000 as of September 30, 2024, down from HKD 522,000,000 as of March 31, 2024[40]. - The group held cash reserves of approximately HKD 131,650,000 as of September 30, 2024, down from HKD 140,604,000 on March 31, 2024[93]. - The group's bank borrowings were fully repaid, resulting in a debt-to-equity ratio of 0% as of September 30, 2024[93]. - The group has no contingent liabilities as of September 30, 2024, indicating a stable financial position[96]. Fair Value and Investments - The fair value gain on equity instruments measured at fair value through profit or loss was HKD 15,403,000, compared to a loss of HKD 9,776,000 in the prior year[3]. - The fair value of equity instruments measured at fair value through other comprehensive income increased to HKD 60,372,000 as of September 30, 2024, from HKD 49,977,000 as of March 31, 2024[42]. - The market value of the group's listed securities investment portfolio was approximately HKD 119,296,000 as of September 30, 2024, up from HKD 95,328,000 as of March 31, 2024[85]. - The group has total securities investments amounted to HKD 68,487,000, with a fair value increase of 5.5% compared to the previous period[86]. - The top five long-term securities investments include Hong Kong Exchanges and Clearing Limited with an investment cost of HKD 9,602,000 and a fair value of HKD 15,177,000, representing 14% of the group's total fair value[86]. Dividends and Shareholder Information - The proposed interim dividend is HKD 0.02 per share, totaling HKD 800,000, consistent with the previous year[53]. - The final dividend declared for the previous fiscal year was HKD 0.12 per share, amounting to HKD 4,800,000, unchanged from the prior year[54]. - The company’s directors held a total of 7,269,577 shares, representing approximately 18.2% of the issued share capital[64]. - The company will suspend shareholder registration from December 19, 2024, to December 23, 2024, to facilitate the distribution of the interim dividend[63]. Management and Future Outlook - The management anticipates that the newly issued or revised accounting standards will not have a significant impact on the group's performance and financial position[19]. - The group has slowed down the development progress of the Fuk Chuen Street project due to high interest rates and other external economic factors[78]. - The group has not recorded any significant progress on future development properties as of the report date[84]. - The group plans to continue monitoring market conditions and interest rate trends to make decisions that align with shareholder interests[98]. - The group will consider new credit facilities for property development when it is deemed beneficial for shareholders[93].
永发置业(00287) - 2025 - 中期财报