Financial Performance - The company reported a significant increase in revenue, achieving a total of 66 million in the first half of 2022, reflecting a growth of 15% compared to the previous period[1]. - The group achieved an unaudited consolidated profit attributable to shareholders of HKD 87.8 million for the six months ended June 30, 2022, a significant increase from HKD 1.2 million in the same period last year[11]. - Total revenue for the six months ended June 30, 2022, was HKD 1,031.1 million, a significant increase from HKD 61.0 million in the same period last year[30]. - The gross profit for the period was HKD 341.8 million, with a gross margin reflecting a substantial improvement compared to the previous year's gross profit of HKD 57.6 million[30]. - The profit from property sales for the six months ended June 30, 2022, was HKD 337.2 million, compared to HKD 6.2 million in the previous year[51]. - The company reported a profit attributable to equity holders of HKD 87.8 million for the six months ended June 30, 2022, compared to a loss of HKD 74.3 million in the same period of 2021[31]. - Total comprehensive loss for the period was HKD 162.1 million, with significant losses attributed to foreign exchange differences and fair value changes of investments[31]. Market and Strategic Initiatives - The company provided a positive outlook for the next quarter, projecting a revenue increase of 10% based on current market trends and user acquisition strategies[1]. - The company is planning to expand its market presence in Asia, targeting a 25% increase in market share over the next two years[1]. - A strategic acquisition is in progress, aimed at enhancing the company's portfolio and expected to contribute an additional 8 million in annual revenue[1]. - The company is focusing on expanding its market presence and exploring new product development strategies to enhance future growth prospects[34]. - The company remains optimistic about the stabilization of the Chinese real estate market, supported by government measures, despite recent liquidity events affecting many developers[14]. User Engagement and Customer Experience - User data showed an increase in active users, with a reported growth rate of 20% year-over-year, indicating strong market engagement[1]. - The company aims to enhance customer experience by implementing new digital platforms, expecting a 30% increase in customer satisfaction ratings[1]. Financial Guidance and Management - Financial guidance for the upcoming fiscal year includes an expected EBITDA margin improvement of 5%[1]. - The company plans to continue monitoring its financial position closely and adjust its strategies accordingly to navigate market challenges[34]. - The group reported a net cash flow from operating activities of HKD 241,700,000 for the review period, compared to HKD 50,500,000 in the previous year[24]. Development Projects and Real Estate - The profit increase was primarily driven by property income from the sale of remaining residential units in the third phase of the Rich International New City project in Chengdu, China, with sales transactions and delivery completed within the first six months of 2022[11]. - The group continues to develop two major integrated development projects in Chengdu and Tianjin, generating substantial cash flow from residential sales, although most cash flow is allocated to ongoing construction[12]. - Approximately 40% of the residential units in the third phase of the Rich International New City project were pre-sold, with most of these units delivered to buyers in the first half of 2022, generating property revenue of HKD 342.8 million[12]. - The company is currently in preliminary discussions with Regal Hotels International Holdings Limited regarding the potential acquisition of the hotel within the Chengdu project[15]. Financial Position and Assets - The company's net asset value attributable to equity holders was HKD 1,554,100,000 as of June 30, 2022, equivalent to approximately HKD 0.18 per share[21]. - The group's capital debt ratio increased to 22.0% as of June 30, 2022, up from 12.1% at the end of the previous year[25]. - The company has a total debt of HKD 848,800,000 as of June 30, 2022, compared to HKD 584,100,000 at the end of the previous year[25]. - The company’s total liabilities decreased from HKD 3,216.3 million to HKD 2,300.0 million, contributing to an increase in asset net value from HKD 1,554.1 million to HKD 1,628.4 million[33]. Corporate Governance and Compliance - The company has adhered to the corporate governance code as per the listing rules, with no separation of roles between the chairman and CEO[94]. - The audit committee has reviewed the accounting standards and practices for the six months ending June 30, 2022, along with the external auditor's report[95]. - The company has confirmed compliance with the standard code governing securities trading by directors during the reporting period[95].
COSMOPOL INT'L(00120) - 2022 - 中期财报