英皇国际(00163) - 2023 - 中期财报

Financial Performance - Total revenue for the six months ended September 30, 2022, was HKD 541,245,000, a decrease of 61.1% from HKD 1,392,682,000 in the same period of 2021[4] - The company recorded a loss attributable to shareholders of HKD 956,441,000, compared to a profit of HKD 233,242,000 in 2021[4] - Basic loss per share was HKD 0.26, down from earnings of HKD 0.06 per share in the same period last year[7] - The group reported a net loss of HKD 1,037,256,000 for the period, compared to a profit of HKD 188,894,000 in the previous year[40] - The fair value change of investment properties resulted in a loss of HKD 899,695,000 during the reporting period[40] - The group incurred a loss of HKD 108,676,000 related to the impairment of properties held for sale, contrasting with a reversal of HKD 60,449,000 in the prior year[66] - Operating loss for the period was HKD 68,567,000, compared to an operating profit of HKD 84,997,000 in the same period of 2021[67] - The group recognized a net foreign exchange loss of HKD 163,165,000, compared to a loss of HKD 6,471,000 in the previous year, marking an increase in losses[66] Revenue Breakdown - Rental income remained stable at HKD 430,692,000, accounting for 79.6% of total revenue, compared to 31.6% in 2021[6] - Property sales revenue significantly decreased to HKD 14,003,000, representing only 2.6% of total revenue, down from 52.5% in 2021[6] - Hotel and related business revenue fell to HKD 96,550,000, making up 17.8% of total revenue, compared to 15.9% in the previous year[6] - Revenue from property leasing was HKD 430,692,000, down from HKD 440,465,000 in the previous year, reflecting a decrease of about 1.8%[59] - The group’s total income from customer contracts was HKD 110,553,000, a significant decrease from HKD 952,217,000 in the previous year[57] - The group’s property development revenue was HKD 14,003,000, down from HKD 731,674,000 in the same period last year, reflecting a decline of approximately 98.1%[62] Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.005 per share, reduced from HKD 0.015 per share in 2021[7] - The interim dividend declared is HKD 0.005 per share, down from HKD 0.015 per share in 2021, totaling approximately HKD 18,388,000 compared to HKD 55,163,000 in the previous year[75] - The company did not declare any special dividend for the period, compared to a special dividend of HKD 0.010 per share in the previous year, which amounted to HKD 36,775,000[75] Asset and Liability Management - As of September 30, 2022, the group's net asset value was HKD 24,773,500,000, down from HKD 26,765,800,000 as of March 31, 2022, representing a decrease of approximately 7.4%[29] - The total equity as of September 30, 2022, was HKD 26,673,398 thousand, down from HKD 28,767,503 thousand as of March 31, 2022, reflecting a decrease of approximately 7.3%[46] - The company’s total liabilities decreased to HKD 18,643,641 thousand as of September 30, 2022, from HKD 19,152,289 thousand as of March 31, 2022, representing a decline of approximately 2.7%[46] - The group has a total external borrowings amounting to approximately HKD 22,093,500,000 as of September 30, 2022, down from HKD 22,711,000,000 as of March 31, 2022[29] - The net debt ratio of the group was 39.7% as of September 30, 2022, compared to 38.7% as of March 31, 2022, indicating a slight increase in leverage[29] Investment and Development Activities - The company’s investment property portfolio covers over 5,400,000 square feet across Greater China and the UK, with a focus on diversifying rental income sources[8] - The occupancy rate for investment properties in Hong Kong was approximately 90% as of September 30, 2022[11] - The company is enhancing property value through redevelopment projects, including a Grade A office building in Wanchai with a total floor area of approximately 127,000 square feet[11] - The group plans to complete several redevelopment projects by 2024, including a 27-story residential building in Happy Valley with a total floor area of approximately 58,000 square feet[22] - The group completed the acquisition of an additional 10% equity in the luxury residential project at 15 Shouson Hill Road, increasing its ownership from 40% to 50%, which is expected to enhance future revenue[20] - The group completed the acquisition of additional equity in Shoushan Mountain No. 15 on October 27, 2022, enhancing its strategic positioning[34] - Following the acquisition of an additional 10% stake in Superb Land for HKD 325,000,000, the group’s interest in Superb Land increased from 40% to 50%[105] Cash Flow and Financial Position - The net cash flow from operating activities for the six months ended September 30, 2022, was HKD 50,771 thousand, a significant decrease from HKD 711,632 thousand in the same period of 2021, reflecting a decline of about 92.9%[50] - The net cash flow from investing activities was HKD 1,002,794 thousand for the six months ended September 30, 2022, compared to HKD 1,723,255 thousand in the previous year, indicating a decrease of approximately 42.0%[50] - The company’s cash flow from financing activities showed a net outflow of HKD 743,618 thousand for the six months ended September 30, 2022, compared to an outflow of HKD 3,275,531 thousand in the same period of 2021, indicating a reduction in financing activities[50] - Cash and cash equivalents at the end of the reporting period were HKD 1,535,697 thousand, down from HKD 1,879,397 thousand at the end of the same period last year, a decrease of about 18.3%[50] Corporate Governance and Compliance - The company did not apply any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective during the reporting period[55] - The mid-term report for the period has not been reviewed or audited by the company's auditor, Deloitte[122] - The company has complied with all corporate governance codes as per the listing rules during the reporting period[118] - The board of directors consists of six members, including Ms. Lu Xiaoman as the chairperson and Mr. Yang Zhenglong as an executive director[123] Shareholder Information - As of September 30, 2022, Ms. Lu Xiaoman holds 2,747,610,489 shares, representing 74.71% of the voting rights in the company[108] - Mr. Yang is also recognized as a qualified beneficiary of the same 2,747,610,489 shares, maintaining a 74.71% voting rights[108] - Ms. Fan Minchang holds 10,500,000 shares, accounting for 0.29% of the voting rights[108] - The company has not granted any share options under its share option scheme since its adoption on August 15, 2013[117] - The mid-term report for 2022/2023 is available for shareholders in both printed and electronic formats, promoting environmental sustainability[125] - Shareholders can request changes to their communication preferences through written notice or email[125] - The report emphasizes the company's commitment to providing accessible information to shareholders[126]