Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 6,367 million, an increase of 16.4% compared to HKD 5,469 million in the same period of 2021[3] - Gross profit for the same period was HKD 2,378 million, down from HKD 3,076 million, reflecting a decrease of 22.7%[3] - The company reported a profit before tax of HKD 36,638 million, compared to a loss of HKD 21,012 million in the previous year[3] - Net profit for the period was HKD 36,776 million, a significant recovery from a loss of HKD 21,006 million in the prior year[3] - Total comprehensive loss for the period amounted to HKD 51,036 million, compared to a total comprehensive income of HKD 1,851 million in the same period last year[3] - Basic and diluted earnings per share for the period were HKD 0.93, compared to a loss per share of HKD 0.53 in the previous year[3] - The company reported a profit attributable to owners of HKD 36.8 million for the six months ended June 30, 2022, compared to a loss of HKD 21.0 million in the same period of 2021[33] Assets and Liabilities - Non-current assets as of June 30, 2022, totaled HKD 1,408,482 million, a decrease from HKD 1,472,609 million at the end of 2021[5] - Current assets were HKD 848,591 million, down from HKD 890,089 million at the end of 2021[5] - The company's net asset value was HKD 939,987 million, a decrease from HKD 991,023 million at the end of 2021[7] - The company's total current liabilities were approximately HKD 1,144,270,000 as of June 30, 2022, down from HKD 1,190,890,000 as of December 31, 2021[81] - The asset-liability ratio was approximately 0.02% as of June 30, 2022, compared to 0.14% as of December 31, 2021[81] Cash Flow and Investments - The operating cash flow for the six months ended June 30, 2022, was a net outflow of HKD 4,591,000, compared to a net outflow of HKD 9,543,000 for the same period in 2021, representing a 52% improvement[12] - Cash and cash equivalents increased to HKD 4,917,000 at the end of June 2022, up from HKD 1,358,000 at the end of June 2021, marking a 262% increase[14] - The net cash flow from investing activities was HKD 3,974,000 for the six months ended June 30, 2022, compared to a cash outflow of HKD 937,000 in the same period of 2021[12] - The cash flow from financing activities was HKD 4,501,000 for the six months ended June 30, 2022, down from HKD 11,087,000 in the previous year, reflecting a 59% decline[14] Foreign Exchange and Financial Risks - The company experienced a foreign exchange loss of HKD 87,812 million due to the translation of overseas operations[3] - The company experienced a net foreign exchange loss of HKD 44,587,000, compared to a gain of HKD 13,585,000 in the previous year, indicating a significant adverse impact from currency fluctuations[12] Revenue Sources - Property sales revenue reached HKD 4,474 million, significantly up from HKD 2,601 million, marking a growth of 72%[25] - The total amount of rental income for the six months ended June 30, 2022, was HKD 5,260 million, compared to HKD 3,390 million in the previous year, indicating a growth of 55%[25] Management and Governance - The company did not declare an interim dividend for the six months ended June 30, 2022, consistent with the previous year[32] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ending June 30, 2022[102] - The company has adopted and fully complied with the corporate governance code as set out in Appendix 14 of the Listing Rules during the six months ending June 30, 2022[99] - All directors confirmed compliance with the standards of the code for securities transactions by directors during the six months ending June 30, 2022[100] Employee and Management Changes - The company employed 68 staff members as of June 30, 2022, down from 80 as of December 31, 2021, with employee costs for the six months ending June 30, 2022, amounting to approximately HKD 7,810,000[86] - The total remuneration for key management personnel for the six months ended June 30, 2022, was HKD 593,000, compared to HKD 726,000 for the same period last year[58] Projects and Developments - The Jinli Bay project has a total construction area of approximately 430,000 square meters, with the first phase's main residential structure completed and expected to obtain pre-sale permits by the end of 2022[65] - The Tanghai project involves a 99.99% acquisition of Tangshan Caofeidian Real Estate Development Co., with a total acquisition cost of approximately RMB 92,490,000[68] - The Honghai Bay project has a total land area of approximately 273,534.2 square meters, with plans to develop it into a residential and tourism complex covering approximately 720,000 square meters[72] Shareholder Information - Major shareholders include Mr. Huang Shizai with a 46.52% stake and Ms. Huang Wenxi with a 16.02% stake as of June 30, 2022[89] - As of June 30, 2022, the total number of shares held by Zhi Hua Group Limited is 282,133,413, representing approximately 7.10% of the issued share capital of 3,975,233,406 shares[95] Corporate Changes - The company changed its name to Great China Holdings (Hong Kong) Limited, effective from July 7, 2022, to better reflect its main activities[76]
大中华控股(00021) - 2022 - 中期财报