万邦投资(00158) - 2023 - 中期财报

Financial Performance - Total comprehensive income attributable to shareholders for the period was HKD 7,130,000 compared to HKD 38,080,000 in the previous period, representing a significant decrease [3]. - Basic and diluted earnings per share decreased to HKD 0.02 from HKD 1.26, indicating a substantial decline in profitability [3]. - For the six months ended March 31, 2023, the company reported a pre-tax profit of HKD 7,771,000, a decrease of 80.8% compared to HKD 40,450,000 for the same period in 2022 [66]. - Rental income for the six months ended March 31, 2023, was HKD 68,767,000, down 2.9% from HKD 70,814,000 in the previous year [66]. - Net profit for the six months ended March 31, 2023, was HKD 5 million, down from HKD 31.5 million in 2022, primarily due to a loss of HKD 41 million from the fair value of investment properties [118]. - Core operating profit from leasing business decreased by 12.0% to HKD 48.8 million, down from HKD 55.5 million in the previous year [118]. - Revenue for the six months ended March 31, 2023, was HKD 77,689,000, a decrease of 2.0% from HKD 80,070,000 for the same period in 2022 [148]. - Gross profit for the same period was HKD 53,879,000, down 14.1% from HKD 62,629,000 [148]. - Shareholders' profit for the period was HKD 487,000, significantly lower than HKD 31,545,000 in the prior year [148]. Assets and Liabilities - Cash and bank deposits as of March 31, 2023, were HKD 240,477,000, a slight decrease from HKD 251,928,000 as of September 30, 2022 [4]. - Current assets net amount was HKD 203,429,000, down from HKD 204,451,000 in the previous period [4]. - Total assets less current liabilities stood at HKD 7,573,753,000, a decrease from HKD 7,608,145,000 [4]. - The company’s total assets as of March 31, 2023, included investment properties valued at HKD 7,241,700,000, reflecting a decrease from HKD 7,282,700,000 as of September 30, 2022 [74]. - Non-current assets totaled HKD 7,370,324,000 as of March 31, 2023, slightly down from HKD 7,403,694,000 as of September 30, 2022 [150]. - Total equity as of March 31, 2023, was HKD 7,553,107,000, a decrease from HKD 7,590,977,000 [153]. - Total equity at the beginning of the period was HKD 7,590,977, a decrease from HKD 7,817,534 in the previous year, representing a decline of approximately 2.9% [155]. - Total equity at the end of the period was HKD 7,553,107, down from HKD 7,810,614, marking a decrease of approximately 3.3% [155]. Cash Flow - The company’s total cash and cash equivalents decreased to HKD 240,477,000 as of March 31, 2023, from HKD 244,429,000 as of September 30, 2022 [82]. - Net cash generated from operating activities was HKD 41,910, an increase of 37.6% compared to HKD 30,467 in the previous year [156]. - The net cash used in investing activities was HKD (862), with no previous year comparison available, suggesting ongoing investment efforts [156]. - The net cash used in financing activities remained constant at HKD (45,000) for both periods, reflecting stable financing strategies [156]. - Cash and bank deposits decreased by HKD 3,952, compared to a larger decrease of HKD 14,533 in the previous year, indicating improved cash management [156]. Dividends - The company declared an interim dividend of HKD 1.80 per share, consistent with the previous year [52]. - The interim dividend declared was HKD 1.8 per share, unchanged from the previous year [89]. - The company maintained a consistent dividend distribution of HKD 45,000 for both periods, indicating stability in shareholder returns [155]. Investment Properties - The company reported a decrease in the fair value of investment properties by HKD 41,000,000 for the six months ended March 31, 2023, compared to a decrease of HKD 15,000,000 for the same period in 2022 [66]. - The fair value decrease of investment properties was HKD 41,000,000, compared to HKD 15,000,000 in the previous period [148]. - The occupancy rates for the group's investment properties were approximately 92.8% and 81.3% for Central Wanbang and Jiali Commercial Building, respectively [119]. Governance and Compliance - The company has maintained compliance with corporate governance codes during the financial period [139]. - The audit committee reviewed the unaudited interim financial information on May 30, 2023 [127]. - The company appointed new independent non-executive directors effective May 31, 2023 [131]. Other Financial Metrics - The company’s interest income for the six months ended March 31, 2023, was HKD 3,769,000, a substantial increase from HKD 130,000 in the same period of 2022 [50]. - The fair value of financial assets measured at fair value through other comprehensive income was determined using various valuation techniques, indicating a reliance on independent professional valuations [46]. - The fair value of financial assets measured at fair value through other comprehensive income increased to HKD 95,749,000 as of March 31, 2023, from HKD 89,106,000 as of September 30, 2022, reflecting a change of 7.3% [77]. - The fair value gain on financial assets measured at fair value through other comprehensive income was HKD 6,643, slightly up from HKD 6,535, reflecting a growth of 1.6% [155]. - The company has adopted revisions to current standards with no significant impact on its performance and financial position [32].