Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 152,986,000, a decrease from HKD 161,136,000 for the same period in 2022, representing a decline of approximately 7.1%[39] - Operating profit for the period was HKD 3,600,000, compared to an operating loss of HKD 13,020,000 in the previous year, indicating a significant improvement[39] - The group recorded a net loss of HKD 1,712,000 for the period, a substantial reduction from a net loss of HKD 29,617,000 in the same period last year, reflecting a decrease of approximately 94.2%[39] - Basic and diluted loss per share for the period was HKD 0.27, compared to HKD 3.21 in the previous year, showing a notable improvement[39] - For the six months ended June 30, 2023, the total comprehensive income was HKD 5,541,000 compared to HKD 35,742,000 for the same period in 2022, representing a decrease of approximately 84.5%[45] - The company reported a total revenue of HKD 152,986,000, a decrease from HKD 161,136,000 in the same period of 2022, representing a decline of approximately 5.5%[122] - The company recorded a segment profit of HKD 8,873,000 for the current period, down from HKD 13,275,000 in the previous year, indicating a decrease of about 33.3%[122] - The total comprehensive loss before tax for the six months ended June 30, 2023, was HKD 2,542,000, compared to a loss of HKD 26,961,000 in the same period of 2022, showing a significant improvement[122] Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 3,038,971,000, an increase from HKD 2,954,343,000 as of December 31, 2022, representing a growth of approximately 2.9%[20] - Non-current assets increased to HKD 2,517,585,000 as of June 30, 2023, up from HKD 2,455,068,000 as of December 31, 2022, reflecting a growth of about 2.5%[47] - Current liabilities rose to HKD 791,349,000 as of June 30, 2023, compared to HKD 705,197,000 as of December 31, 2022, indicating an increase of approximately 12.2%[48] - The company’s total liabilities increased to HKD 854,329,000 as of June 30, 2023, compared to HKD 775,242,000 in the previous year[115] - The group’s financial liabilities included HKD 54,201,000 payable to joint ventures, an increase from HKD 47,826,000 in the previous year[19] - As of June 30, 2023, the group's net current liabilities amounted to HKD 269,963,000, an increase from HKD 205,922,000 as of December 31, 2022[55] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2023, was a cash outflow of HKD 10,481,000, a significant decline from the cash inflow of HKD 17,722,000 in the same period of 2022[52] - Cash and cash equivalents decreased to HKD 75,901,000 as of June 30, 2023, down from HKD 81,217,000 at the beginning of the period, reflecting a reduction of approximately 6.5%[52] - The company reported a net cash outflow from investing activities of HKD 22,659,000 for the six months ended June 30, 2023, compared to a net cash outflow of HKD 14,524,000 in the same period of 2022[52] - The financing activities generated a net cash inflow of HKD 65,602,000 for the six months ended June 30, 2023, compared to HKD 39,447,000 in the same period of 2022, indicating an increase of approximately 66.3%[52] Revenue Sources - Revenue from sales of goods from other sources was HKD 127,456,000, down from HKD 136,450,000 in the previous year[86] - Rental income from investment properties totaled HKD 25,530,000, an increase from HKD 24,686,000 in the prior year[86] - The occupancy rate of major investment properties was approximately 75%, slightly down from 76% in the previous year[157] Shareholder Information - The major shareholder, Forest Crimson Limited, holds 209,671,000 shares, representing 22.06% of the total issued share capital[184] - Mr. Ding Huo Shou has personal interests of 13,800,238 shares and family interests of 571,429 shares, totaling 53,469,948 shares, which is 5.62% of the total issued share capital[184] - The total issued and fully paid ordinary shares remained at 950,588 thousand shares as of June 30, 2023, unchanged from December 31, 2022[133] Corporate Governance - The company has complied with all provisions of the Corporate Governance Code during the review period, except for the separation of roles between the chairman and the CEO[192] - The audit committee has reviewed the main accounting policies and discussed audit, internal control, and financial reporting matters for the six months ending June 30, 2023[193] - The company has adopted the standard code of conduct for securities trading by directors and employees, confirming compliance during the review period[195] Future Outlook - The group expects higher sales in the second half of the year due to increased demand for its toy and model train products during the festive season[21] - The group plans to diversify its business, explore sales opportunities, and enhance production efficiency to maintain operations amid a challenging economic environment[171]
开达集团(00180) - 2023 - 中期财报