海港企业(00051) - 2022 - 中期财报

Financial Performance - The group reported a basic net loss of HKD 860 million for the first half of 2022, compared to a loss of HKD 290 million in the same period of 2021[6]. - Revenue decreased by 70% to HKD 538 million, down from HKD 1.813 billion in 2021, resulting in an operating loss of HKD 30 million compared to a profit of HKD 142 million in the previous year[14]. - The hotel business in Hong Kong recorded a basic net loss of HKD 1.22 billion, with cumulative losses exceeding HKD 650 million over the past 30 months[5]. - The net loss attributable to shareholders for the period was HKD 136 million, compared to a loss of HKD 104 million in the previous year, resulting in a basic loss per share of HKD 0.19, up from HKD 0.15[18]. - The company reported a total comprehensive loss of HKD 344 million for the six months ended June 30, 2022, compared to a total comprehensive income of HKD 385 million for the same period in 2021[35]. - The group incurred a loss of HKD 159 million attributable to shareholders for the six months ended June 30, 2022, compared to a loss of HKD 90 million in the previous year[32]. - The basic net loss from core operations was HKD 86 million, compared to HKD 29 million in the previous year[19]. - Operating loss for the group was HKD 30 million, compared to a profit of HKD 142 million in the same period last year[43]. Revenue Breakdown - The hotel segment experienced a 5% decline in revenue to HKD 220 million, with an operating loss of HKD 164 million, compared to a loss of HKD 161 million in 2021[14]. - Development property sales generated HKD 135 million, a significant decrease from HKD 1,402 million in the prior year[41]. - The group recorded a decrease in pre-sale deposits and income to HKD 228 million from HKD 244 million as of December 31, 2021[27]. - The group recognized a total of HKD 102 million in rental income from investment properties, compared to HKD 98 million in the previous year[43]. - Total revenue for the six months ended June 30, 2022, was HKD 538 million, a decrease of 70.4% compared to HKD 1,813 million in the same period of 2021[41]. Assets and Liabilities - Total assets decreased to HKD 19.4 billion from HKD 20.5 billion as of December 31, 2021, with total operating assets at HKD 18.5 billion, down from HKD 19.2 billion[21]. - The group's equity decreased to HKD 15.27 billion, equivalent to HKD 21.55 per share, from HKD 15.61 billion or HKD 22.03 per share as of December 31, 2021[20]. - The group's investment properties amounted to HKD 5.088 billion, slightly up from HKD 5.138 billion as of December 31, 2021[23]. - The total amount of development properties reached HKD 1.924 billion, down from HKD 2.227 billion as of December 31, 2021[24]. - The group recorded a net cash outflow from operating activities of HKD 200 million, compared to a net inflow of HKD 196 million in the previous year[29]. - The group’s net debt increased to HKD 565 million from HKD 361 million, with a total equity to debt ratio of 4%, up from 2%[27]. - The group’s net debt stood at HKD 3.907 billion, a reduction from HKD 4.589 billion in the previous year[34]. Investment and Development - The projected capital and development expenditures for the coming years total HKD 1 billion, primarily for property development commitments[30]. - The company has reported a total of HKD 440 million in commitments for development properties in mainland China as of June 30, 2022[56]. - The company has terminated an agreement for the sale of shares in a subsidiary, resulting in a claim for compensation of RMB 1.2 billion plus interest[57]. - The company has not incurred any significant liabilities related to commitments as of June 30, 2022, with total commitments amounting to HKD 985 million[56]. Corporate Governance - The company has complied with all corporate governance codes except for one provision regarding the separation of the roles of Chairman and CEO, which is deemed appropriate for strategic execution[59]. - The company has adopted a code of conduct for directors' securities trading, aligning with the standards set by the Listing Rules Appendix 10, ensuring compliance during the reporting period[60]. - The board of directors includes seven members, with a mix of executive and independent non-executive directors, ensuring diverse governance[67]. - The company has specific inquiries made to all directors regarding compliance with the adopted code of conduct, confirming adherence during the reporting period[60]. Employee and Workforce - The group maintained a workforce of approximately 1,100 employees as of June 30, 2022[31]. Cash Flow and Financial Activities - Cash and cash equivalents as of June 30, 2022, amounted to HKD 703 million, a decrease from HKD 1,143 million as of June 30, 2021, reflecting a decline of 38.6%[36]. - Operating cash flow for the six months ended June 30, 2022, was negative HKD 200 million, compared to positive HKD 196 million for the same period in 2021[36]. - Investment activities generated a net cash inflow of HKD 92 million for the six months ended June 30, 2022, compared to HKD 75 million in the same period of 2021[36]. Shareholder Information - As of June 30, 2022, the major shareholder Kowloon Warehouse Holdings holds 506,946,196 shares, representing 71.53% of the total issued shares[64]. - The company’s major shareholders include Harson Investment Limited, holding 57,054,375 shares (8.05%), further consolidating ownership[64]. - The company has no recorded short positions in the register as of June 30, 2022, indicating a strong positive outlook among shareholders[65].