Financial Performance - For the six months ended June 30, 2022, the company reported revenue of HKD 491,382,000, a decrease of 23.3% compared to HKD 640,789,000 for the same period in 2021[8]. - The loss attributable to shareholders for the same period was HKD 146,986,000, compared to a profit of HKD 20,540,000 in the previous year, marking a significant decline[8]. - Total revenue for the six months ended June 30, 2022, was HKD 491,382,000, a decrease of 23.3% compared to HKD 640,789,000 for the same period in 2021[144]. - The company reported a loss attributable to shareholders of HKD 146,986,000 for the six months ended June 30, 2022, compared to a profit of HKD 20,540,000 in the same period of 2021, indicating a substantial decline[157]. - Adjusted loss attributable to shareholders for the same period was HKD 147,212,000, compared to an adjusted profit of HKD 20,314,000 in 2021, reflecting a significant deterioration in performance[157]. - Basic and diluted loss per share was HKD 0.23, compared to earnings of HKD 0.03 per share in the previous year[85]. Assets and Liabilities - The total assets as of June 30, 2022, were HKD 14,932,878,000, down from HKD 16,022,667,000 at the end of 2021, indicating a decrease of 6.8%[10]. - Total liabilities decreased to HKD 7,791,582,000 from HKD 8,715,249,000, reflecting a reduction of 10.6%[141]. - As of June 30, 2022, the group's loans amounted to HKD 5,435,000,000, a decrease from HKD 6,068,000,000 as of December 31, 2021, primarily due to the repayment of mortgage loans after the sale of investment properties[64]. - The company’s total equity attributable to shareholders was HKD 5,265,683,000, down from HKD 5,406,016,000 at the end of 2021[92]. - The net debt-to-equity ratio improved from 72% as of December 31, 2021, to 65% as of June 30, 2022, mainly due to the sale of investment properties and the repayment of related loans[65]. Investment Properties - The book value of investment properties in the US was HKD 8,154,000,000 as of June 30, 2022, down from HKD 9,167,000,000 at the end of 2021, reflecting a decrease of 11.0%[22]. - Total income from US investment properties was HKD 486,000,000, a decline of 23.2% compared to HKD 633,000,000 in the same period last year[22]. - The overall performance of investment properties remained stable despite geopolitical tensions and inflationary pressures affecting financial markets[13]. - The company completed three investment property sales during the mid-2022 period, optimizing its U.S. property portfolio[28]. - The valuation of U.S. investment properties as of June 30, 2022, was approximately $8.2 billion, with 9% in the West Coast, 26% in the East Coast, and 64% in the Central region[27]. Revenue and Income - Rental income from U.S. investment properties was HKD 390,000,000, while auxiliary service income was HKD 96,000,000, including service income of HKD 79,000,000 and parking income of HKD 17,000,000[46]. - Other income decreased from HKD 56,179,000 in 2021 to HKD 34,878,000 in 2022, a decline of approximately 38.0%[55]. - The company reported a decrease in dividend income to HKD 650,000 from HKD 3,297,000, a decline of 80.3%[144]. - Interest income for the six months ended June 30, 2022, was HKD 3,153,000, down from HKD 4,011,000 in the previous year, a decrease of 21.4%[147]. Expenses and Costs - Operating expenses decreased from HKD 311,322,000 in 2021 to HKD 234,074,000 in 2022, a reduction of approximately 24.8%[51]. - Administrative and other expenses decreased from HKD 102,762,000 in 2021 to HKD 95,936,000 in 2022, a reduction of approximately 6.0%[57]. - Financial costs for the group decreased from HKD 219,000,000 in 2021 to HKD 182,000,000 in 2022, a decline of approximately 16.9%[60]. - The company reported a decrease in financial expenses to HKD 182,417 from HKD 219,044 in the previous year[101]. Cash Flow and Resources - As of June 30, 2022, the group's cash resources totaled HKD 795,000,000, down from HKD 825,000,000 at the end of 2021[62]. - Cash and cash equivalents at the end of the period were HKD 794,899, down from HKD 1,235,939 in the previous year[104]. - Cash flow from investing activities showed a net inflow of HKD 1,305,858, significantly higher than HKD 469,783 in the previous year[104]. - The group redeemed 150,676 shares in Neutron Fund Limited for a total cash inflow of HKD 250,000,000, resulting in a loss of HKD 30,000,000 from the redemption[44]. Development Projects - The development projects in the US are progressing as expected, with one project in Manhattan set to complete in the second half of 2022, which is anticipated to generate sales revenue and cash inflow[15]. - Development projects in the U.S. include residential redevelopment with a total estimated floor area of 297,000 square feet, expected to be completed between 2022 and 2025[37]. - The company plans to closely monitor business development projects and continue implementing plans to provide quality residential property development products[38]. Shareholder Information - The company does not recommend any interim dividend for the first half of 2022, reflecting a cautious approach amid market uncertainties[14]. - The group did not recommend any interim dividend for the period, consistent with the previous year[162]. - The average number of ordinary shares outstanding for calculating basic loss per share was 635,570,000 for both periods, indicating no change in share count[155].
盛洋投资(00174) - 2022 - 中期财报