Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 121,928,000, a decrease of 2% from HKD 125,427,000 in the same period of 2023[6] - Operating profit increased to HKD 87,565,000, up 1% from HKD 86,602,000 year-over-year[6] - The net loss attributable to shareholders for the period was HKD 85,847,000, compared to a profit of HKD 18,098,000 in the previous year[6] - Earnings per share for the current period was HKD (7.44), a decline from HKD 1.57 in the prior year[6] - For the six months ending September 30, 2024, the company reported a loss of HKD 83,401,000 compared to a profit of HKD 27,579,000 in the same period of 2023, representing a significant decline in performance[27] - The company reported a loss attributable to ordinary shareholders of HKD 85,847,000 for the period, compared to a profit of HKD 18,098,000 in the previous year[56] - The group's net loss for the six months was HKD 83,400,000, compared to a profit of HKD 27,600,000 in the previous year, with a loss attributable to shareholders of HKD 85,800,000[174] Cash Flow and Liquidity - Cash generated from operating activities was HKD 81,276,000, an increase of 17% from HKD 69,454,000 in the previous year[19] - Cash and bank balances increased to HKD 385,692,000 from HKD 302,502,000, indicating improved liquidity[30] - Cash and cash equivalents increased to HKD 385,692,000 from HKD 205,926,000, marking a significant rise of 87%[61] - The group’s cash and bank balances increased to HKD 385.7 million as of September 30, 2024, compared to HKD 302.5 million as of March 31, 2024[153] Assets and Liabilities - Total liabilities as of September 30, 2024, were HKD 2,445,413,000, slightly up from HKD 2,435,070,000 as of March 31, 2024[14] - The total equity and liabilities as of September 30, 2024, amounted to HKD 10,990,623,000, down from HKD 11,021,147,000[14] - Total assets decreased to HKD 10,990,623,000 as of September 30, 2024, down from HKD 11,021,147,000 as of March 31, 2024[30] - The company's equity decreased to HKD 8,545,210,000 from HKD 8,586,077,000, reflecting a reduction in shareholder value[32] - The total liabilities increased to HKD 2,445,413,000 from HKD 2,435,070,000, indicating a slight rise in obligations[49] - The company's non-current assets were valued at HKD 5,368,081,000 as of September 30, 2024, down from HKD 5,899,881,000 as of March 31, 2024[100] Revenue Breakdown - Property management service revenue was HKD 19,331,000, down from HKD 20,153,000, representing a decline of 4%[51] - Rental income from property leasing decreased to HKD 88,309,000 from HKD 96,020,000, a drop of 8%[51] - The rental income from the Kin Sang Plaza was HKD 22,100,000, down from HKD 24,000,000, with a fair value decrease of HKD 2,000,000 compared to a fair value increase of HKD 10,000,000 in the previous year[175] Investment and Market Focus - The company plans to focus on market expansion and new product development in the upcoming quarters[1] - The company continues to focus on its investment properties and has not disclosed any new product developments or market expansions during this reporting period[49] - The group holds a 5.1% beneficial interest in three commercial buildings in Tokyo, with a total sale agreement value of JPY 95 billion, resulting in cash distributions of JPY 1.723 billion during the reporting period[147] Shareholder Information - 吴汪靜宜 holds a total of 528,683,206 shares, representing 45.81% of the company's equity[189] - Forward Investments Inc. owns 283,200,215 shares, accounting for 24.54% of the total shares[194] - Intercontinental Enterprises Corp. has a stake of 215,768,260 shares, which is 18.70% of the company's equity[194] - Asset-Plus Investments Ltd. holds 115,351,866 shares, representing 9.99% of the total shares[194] - No stock options were granted or exercised by directors as of September 30, 2024[195] - Chen Jian is a major shareholder of Argyle Street Management Holdings Limited, which holds 508,000 shares[199] - The company has no other directors holding shares or interests that require disclosure as of September 30, 2024[200] Operational Metrics - The occupancy rate of the Western Club Building in Central, Hong Kong, was 92% for the six-month period, down from 96% a year earlier, contributing rental income of HKD 25,200,000, a decrease from HKD 30,700,000 in the previous year[121] - The average daily room rate for the hotel was HKD 3,143, with an average occupancy rate of 49% during the reporting period, indicating a slow recovery in the hotel and tourism sector[125] - The occupancy rate of the property at 68 Yee Wo Street, Causeway Bay, Hong Kong, decreased to 75% as of September 30, 2024, down from 86% in September 2023[145] - The property at 115-119 Queen's Road West, Hong Kong, maintained a 100% occupancy rate, contributing rental income of HKD 10.6 million, unchanged from the previous year[146] - The occupancy rate of the Shanghai Jia Hua Center was 91%, down from 94% in the previous year, with a share of profit before exchange differences of HKD 4,000,000[177] Future Outlook - The recovery of the hotel and tourism industry in Hong Kong is slower than expected, but the government is actively promoting business activities and tourism projects to attract more visitors[182] - The renovation of the Regal Hotel in Hong Kong has been completed and is set to open in November 2023, aimed at long-term capital appreciation and dividend income[186]
建生国际(00224) - 2025 - 中期财报