2022-09-22 08:38Financial Performance - The Group reported revenue of HK$1,181,426,000 for the six months ended 30 June 2022, a significant increase from HK$726,167,000 in the same period of 2021, representing a growth of approximately 62.5%[7]. - Gross profit for the period was HK$1,161,630,000, compared to HK$689,525,000 in the prior year, indicating a gross profit margin improvement[7]. - Profit before tax reached HK$880,856,000, a substantial recovery from a loss of HK$26,640,000 in the corresponding period of 2021[7]. - Profit for the period amounted to HK$870,566,000, compared to a loss of HK$35,470,000 in the same period last year, showcasing a strong turnaround[7]. - For the six months ended June 30, 2022, the company reported a profit attributable to owners of HK$870,537,000, compared to a loss of HK$37,284,000 in the same period of 2021, representing a significant turnaround[8]. - Basic and diluted earnings per share for the period was HK$0.456, compared to a loss per share of HK$0.020 in the previous year[8]. - The Group reported a loss for the period, with other comprehensive expenses totaling HK$895,020,000[11]. - The Group recorded a net loss from securities investments of HK$178.3 million, compared to a net gain of HK$99.0 million in the previous year[197]. Expenses and Costs - The Group's administrative expenses were HK$177,390,000, which decreased from HK$169,394,000 in the previous year, reflecting improved cost management[7]. - Other income for the period was HK$7,377,000, down from HK$23,462,000 in the previous year, indicating a decline in additional revenue sources[7]. - The Group incurred finance costs of HK$54,829,000, slightly higher than HK$54,455,000 in the prior year, suggesting stable financing conditions[7]. - The income tax expense for the period was HK$10,290,000, compared to HK$8,830,000 in the previous year, reflecting the increased profitability[7]. - Total interest expenses for the six months ended June 30, 2022, were HK$44,147,000, a decrease from HK$49,002,000 in 2021[72]. Assets and Liabilities - Non-current assets decreased from HK$17,509,881,000 as of December 31, 2021, to HK$16,161,660,000 as of June 30, 2022[9]. - Current liabilities decreased from HK$4,083,959,000 at the end of 2021 to HK$3,833,477,000 by June 30, 2022[10]. - The company's total equity decreased from HK$14,398,830,000 at the end of 2021 to HK$13,947,640,000 by June 30, 2022[10]. - The company reported a net current liabilities position of HK$394,272,000 as of June 30, 2022, compared to net current assets of HK$3,230,000 at the end of 2021[10]. - The total liabilities were HK$5,653,225,000, with unallocated corporate liabilities at HK$5,305,071,000[55]. Investment Activities - The Group's investment expenses netted to HK$204,079,000, a decrease from HK$418,349,000 in the previous year, indicating reduced investment activity[7]. - The cumulative loss on a listed equity investment classified as financial assets measured at fair value through other comprehensive income (FVTOCI) was approximately HK$1,610,066,000 as of June 30, 2022, down from HK$2,484,787,000 as of December 31, 2021[14]. - The Group's investment in a property development project in Hong Kong decreased to HK$203,868,000 as of June 30, 2022, from HK$990,440,000 as of December 31, 2021, due to dividend declarations by the investee company[126]. Cash Flow and Liquidity - The Group reported net operating cash outflows of approximately HK$176,746,000 for the six months ended 30 June 2022, a significant improvement from HK$699,232,000 in the same period of 2021[21]. - The Group's cash and cash equivalents at 30 June 2022 amounted to HK$1,933,050,000, compared to HK$676,034,000 at the end of the previous year[18]. - The Directors believe that the Group will have sufficient financial resources to meet its financial obligations in the coming twelve months based on cash flow projections[24]. - The Group has unutilised loan facilities from a Director, which may support its liquidity needs[23]. Revenue Sources - Revenue from brokerage and cosmetics income decreased to HK$7,479,000 in 2022 from HK$8,922,000 in 2021, a decline of about 16.2%[39]. - Building and property management services income increased to HK$25,151,000 in 2022 from HK$24,490,000 in 2021, reflecting a growth of approximately 2.7%[39]. - Property rental income decreased to HK$157,139,000 in 2022 from HK$161,284,000 in 2021, a decline of about 2.6%[39]. - Dividend income from listed equity investments increased to HK$954,104,000 in 2022 from HK$160,751,000 in 2021, a substantial increase of about 493.5%[39]. Market and Future Outlook - Future prospects remain optimistic as the Group continues to explore market expansion and new product development strategies[6]. - The Group's strategy involves managing each business unit separately due to different markets and marketing strategies required[51]. - The Group's operations include cosmetics distribution and trading, as well as building and property management services[47]. Shareholder Returns - The Company paid a final dividend for 2020, which was reflected in the transfer of reserves[11]. - The Board resolved not to declare any interim dividend for the Period, consistent with the previous year[191].