海昌海洋公园(02255) - 2025 - 中期业绩

Interim Results Summary Interim Condensed Consolidated Statement of Profit or Loss For the six months ended June 30, 2025, the Group's revenue decreased by 14.2% to RMB 686.3 million year-on-year, with gross profit significantly down 63.2% to RMB 71.7 million. Loss for the period expanded significantly to RMB 295.6 million, and loss per share attributable to owners of the parent was RMB 3.64 cents Key Data from Interim Condensed Consolidated Statement of Profit or Loss | Metric | June 30, 2025 (RMB in thousands) | June 30, 2024 (RMB in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 686,303 | 799,801 | -14.2% | | Cost of Sales | (614,601) | (604,929) | +1.6% | | Gross Profit | 71,702 | 194,872 | -63.2% | | Other Income and Gains | 27,434 | 96,297 | -71.5% | | Selling and Marketing Expenses | (51,252) | (26,744) | +92.1% | | Administrative Expenses | (172,528) | (166,944) | +3.36% | | Finance Costs | (156,965) | (168,518) | -6.8% | | Loss Before Tax | (295,610) | (83,408) | +254.4% | | Loss for the Period | (295,626) | (87,193) | +239.1% | | Loss Attributable to Owners of the Parent | (295,139) | (84,226) | +250.4% | | Basic and Diluted Loss Per Share (RMB cents) | (3.64) | (1.04) | +250.0% | Interim Condensed Consolidated Statement of Comprehensive Income The Group's total comprehensive loss for the six months ended June 30, 2025, significantly expanded to RMB 290.9 million from RMB 84.9 million in the prior period, primarily due to increased loss for the period and exchange differences Key Data from Interim Condensed Consolidated Statement of Comprehensive Income | Metric | June 30, 2025 (RMB in thousands) | June 30, 2024 (RMB in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Loss for the Period | (295,626) | (87,193) | +239.1% | | Exchange Differences on Translation of Foreign Operations (reclassifiable) | (52,774) | (17,922) | +194.5% | | Exchange Differences on Translation of Foreign Operations (non-reclassifiable) | 57,495 | 20,252 | +184.0% | | Other Comprehensive Income for the Period (net of tax) | 4,721 | 2,330 | +102.6% | | Total Comprehensive Loss for the Period | (290,905) | (84,863) | +242.8% | | Total Comprehensive Loss Attributable to Owners of the Parent | (290,418) | (81,896) | +254.6% | Interim Condensed Consolidated Statement of Financial Position As of June 30, 2025, the Group's total assets slightly decreased, net current liabilities further expanded, and net assets decreased by 16.0%, indicating financial pressure Key Data from Interim Condensed Consolidated Statement of Financial Position | Metric | June 30, 2025 (RMB in thousands) | December 31, 2024 (RMB in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Total Non-current Assets | 9,588,005 | 9,851,854 | -2.7% | | Total Current Assets | 529,074 | 487,699 | +8.5% | | Total Current Liabilities | 3,721,685 | 3,440,618 | +8.2% | | Net Current Liabilities | (3,192,611) | (2,952,919) | +8.1% | | Total Assets Less Current Liabilities | 6,395,394 | 6,898,935 | -7.3% | | Total Non-current Liabilities | 4,870,999 | 5,083,635 | -4.1% | | Net Assets | 1,524,395 | 1,815,300 | -16.0% | | Total Equity | 1,524,395 | 1,815,300 | -16.0% | Notes to the Interim Condensed Consolidated Financial Information Basis of Preparation The interim condensed consolidated financial information is prepared in accordance with International Accounting Standard 34 'Interim Financial Reporting' and should be read in conjunction with the annual consolidated financial statements for the year ended December 31, 2024 - Financial information is prepared in accordance with IAS 34 and should be read in conjunction with annual reports[8] Basis of Presentation (Going Concern) Despite net current liabilities of RMB 3.19 billion and a loss for the period of RMB 296 million, the Board believes the Group can continue as a going concern, supported by bank and credit facilities, capital expenditure monitoring, new investment opportunities, and HKD 2.295 billion new equity financing approved by shareholders through a subscription - The Group's net current liabilities amounted to RMB 3,192,611,000 and net loss for the period was RMB 295,626,000[9] - The Group has secured unutilized bank and credit facilities totaling RMB 4,500,000,000 valid beyond December 31, 2025[10] - The Company entered into a subscription agreement with Sunriver Starrysea Tourism (Cayman) Co., Ltd. to allot and issue 5,100,000,000 new shares at HKD 0.45 per share, for a total consideration of HKD 2,295,000,000, which has been approved by shareholders[10] Changes in Accounting Policies and Disclosures This period saw the first application of revised IFRS accounting standards, including amendments to IAS 21 'Lack of Exchangeability', but these changes had no significant impact on the Group's financial position or performance - New and revised IFRS accounting standards, including amendments to IAS 21 'Lack of Exchangeability', were first applied in this period[12] - The application of new accounting standards had no significant impact on the Group's financial position and performance[12] Operating Segment Information The Group's main operating segments include park operations, operations-as-a-service, and property development, with park operations being the primary revenue source. For the six months ended June 30, 2025, both park operations and operations-as-a-service segments saw decreased revenue and performance, while the property development segment generated no revenue Operating Segment Revenue and Results (for the six months ended June 30, 2025) | Segment | Revenue (RMB in thousands) | Segment Results (RMB in thousands) | | :--- | :--- | :--- | | Park Operations | 646,200 | 65,654 | | Operations-as-a-Service | 40,103 | 6,048 | | Property Development | – | – | | Total | 686,303 | 71,702 | Operating Segment Revenue and Results (for the six months ended June 30, 2024) | Segment | Revenue (RMB in thousands) | Segment Results (RMB in thousands) | | :--- | :--- | :--- | | Park Operations | 735,866 | 185,223 | | Operations-as-a-Service | 63,935 | 9,649 | | Property Development | – | – | | Total | 799,801 | 194,872 | - Over 99% of the Group's revenue and non-current assets are derived from Mainland China operations, thus no geographical information is presented[13] Revenue For the six months ended June 30, 2025, the Group's total revenue was RMB 686.3 million, a **14