Financial Performance - Loss attributable to owners of the company for the six months ended June 30, 2022, was HK$146 million, a decrease of 41.8% compared to HK$251 million in the same period of 2021[6]. - Basic loss per share improved to HK(6.35) cents, a 41.7% reduction from HK(10.90) cents in the previous year[6]. - The loss attributable to the owners of the Company decreased to approximately HK$146,349,000 for 2022 from approximately HK$251,333,000 for 2021[34]. - Loss before taxation improved to HK$132,828,000 from HK$343,425,000, indicating a reduction of 61.2%[134]. - The company reported a net loss for the period of HK$125,858,000, down from HK$350,953,000 in the same period of 2021[136]. - The Group's loss before taxation for the six months ended June 30, 2022, was HK$146,349,000, compared to a loss of HK$251,333,000 for the same period in 2021[195]. Assets and Liabilities - Total assets increased by 7.2% to HK$11,653 million as of June 30, 2022, compared to HK$10,867 million in 2021[6]. - Net assets decreased by 23.8% to HK$5,382 million from HK$7,060 million year-on-year[6]. - The company's equity attributable to owners decreased by 22.2% to HK$4,918 million from HK$6,325 million[6]. - The Group's total net assets as of June 30, 2022, were approximately HK$5,381,975,000, with total net current assets of approximately HK$2,158,237,000[92]. - Total current liabilities were HK$2,402,279, reflecting an increase of 1.8% from HK$2,359,152 as of December 31, 2021[142]. - The Group's cash and bank balances were approximately HK$113,469,000 as of June 30, 2022, down from HK$141,205,000 as of December 31, 2021[48]. Revenue and Income - For the six months ended June 30, 2022, total revenue was HK$59,070,000, an increase from HK$43,574,000 in the same period of 2021, representing a growth of 35.5%[165]. - Rental income from the property leasing business increased by approximately 35.25% to approximately HK$58,934,000 for 2022, up from approximately HK$43,574,000 for 2021[29]. - The increase in other income, gains, and losses rose from approximately HK$155,684,000 in 2021 to approximately HK$277,560,000 in 2022, primarily due to increased interest income from loan receivables[38]. - Interest income (excluding bank deposits) rose from approximately HK$153,431,000 in 2021 to approximately HK$244,247,000 in 2022, mainly due to increased interest from loan receivables[38]. Borrowings and Financing - As of June 30, 2022, the Group's total borrowings amounted to approximately HK$5,455,668,000, an increase from HK$5,036,159,000 as of December 31, 2021[44]. - The composition of borrowings includes short-term borrowings of HK$541,024,000, long-term borrowings of HK$3,575,518,000, and convertible bonds of HK$1,339,126,000[45]. - The Group's interest-bearing bank and other borrowings, along with convertible bonds, totaled approximately HK$1,880,150,000 due within the next 12 months, while cash and bank balances were approximately HK$90,077,000[53]. - The Group had outstanding convertible bonds due in July 2022 with an aggregate principal amount of HK$1,150,000,000, bearing interest at 7% per annum[48]. Cost Management - Administrative expenses decreased from approximately HK$93,717,000 in 2021 to approximately HK$46,479,000 in 2022, mainly due to corporate restructuring and absence of certain costs[40]. - The Group plans to accelerate the realization of mature investments and reduce inefficient investments in response to potential economic recession and market volatility[28]. - The management team of Zhong Hai You Qi has focused on effective cost reduction and efficiency enhancement during Period 2022[15]. Shareholder Information - The company maintained 2,304,849,611 ordinary shares issued and fully paid as of June 30, 2022, with a market closing price of HK$0.4 per share[8]. - Mr. Chu held a long position of 681,240,022 shares, representing approximately 29.56% of the issued shares as of June 30, 2022[117]. - The total number of issued shares as of June 30, 2022, was 2,304,849,611 shares, used for calculating the percentage of shareholdings[117]. Corporate Governance - The Company complied with all mandatory provisions of the Corporate Governance Code throughout Period 2022, except for specified deviations[113]. - All Directors confirmed compliance with the required standards for securities transactions during Period 2022[115]. Economic Environment - During Period 2022, the Federal Reserve raised the federal funds rate by a total of 225 basis points, significantly impacting global economic growth and financial markets[14]. - The ongoing cash flow crisis in China's real estate sector has significantly impacted fixed asset investments and local fiscal revenue[14].
银建国际(00171) - 2022 - 中期财报