Financial Performance - For the six months ended June 30, 2023, the Group recorded a revenue of approximately HK$16.62 million, representing an increase of approximately 124% compared to HK$7.43 million in the same period last year[10]. - Net profit attributable to Shareholders was approximately HK$0.51 million for the reporting period, a significant recovery from a net loss of approximately HK$3.04 million in the corresponding period last year[10]. - Earnings per share for the six months ended June 30, 2023, was approximately 0.04 HK cents, compared to a loss per share of approximately 0.27 HK cents in the same period last year[11]. - The Group's turnover for the same period was approximately HK$16.62 million, representing an increase of approximately 124% from HK$7.43 million in the corresponding period of the previous year[27]. - For the six months ended 30 June 2023, the Group recorded a net profit of approximately HK$0.51 million, a significant improvement from a loss of HK$3.04 million in the same period of 2022[26]. Hotel Operations - The average daily rate of hotel increased by 20% to HK$344, while the hotel occupancy rate rose significantly to 64%, up from 17% in the previous year[6]. - The average occupancy rate for the hotel operation was approximately 64%, a substantial increase of 276% compared to 17% in the same period of 2022[35]. - Accommodation revenue reached approximately HK$8.11 million, reflecting a 294% increase over the corresponding period of 2022[39]. - Catering revenue generated during the review period was approximately HK$5.67 million, representing an increase of approximately 163% compared to the same period in 2022[42]. - The Group is actively enhancing its hotel operations by expanding into cultural and educational services, such as establishing an "Education and Training Base"[30]. Financial Position - Net assets decreased by approximately HK$0.56 million to approximately HK$401.96 million as of June 30, 2023, compared to HK$402.52 million as of December 31, 2022[11]. - The gearing ratio as of 30 June 2023 was 0.14%, down from 0.29% as of 31 December 2022, indicating a strong financial position[28]. - As of June 30, 2023, the Group had a net cash balance of approximately HK$38.20 million, compared to HK$39.73 million at the end of 2022[61]. - The liquidity ratio was 3.47 as of June 30, 2023, compared to 3.82 at the end of 2022[61]. - The Group's investment property project rental rate was approximately 90% during the review period due to weak demand in the Hong Kong Grade A office market[50]. Corporate Strategy - The Group is focusing on revitalizing and optimizing stock assets, particularly in Hong Kong properties, to improve asset management efficiency and unlock value[19]. - The Group aims to strengthen the integration of hotel resources, cultural tourism, and green environmental protection industries to enhance core competitiveness[19]. - The overall goal of the Group is to maximize shareholder interests while fulfilling corporate social responsibility and integrating into national development[20]. - The Group aims to strengthen its core business and enhance brand value through innovative thinking and market-oriented incentive mechanisms[23]. - The Group aims to seek assets with healthy profitability and excellent growth potential for long-term investment while optimizing internal processes[59]. Management and Governance - The company has a strong management team with extensive experience in finance, international trade, and corporate management, enhancing operational efficiency[125]. - The company is committed to continuous improvement in corporate governance and operational strategies to drive growth[128]. - The Board consists of nine Directors, including three Executive Directors, three Non-executive Directors, and three Independent Non-executive Directors[155]. - The company emphasizes the importance of good corporate governance as a factor leading to its success[152]. - The Company has confirmed the independence of its three independent non-executive directors in compliance with Listing Rules[163]. Risk Management - The Board is responsible for the Group's risk management and internal control systems, which are reviewed annually for effectiveness[173]. - The management has established a process for identifying, evaluating, and managing significant risks faced by the Group[174]. - The Board ensures that appropriate accounting policies are consistently applied and that financial statements reflect a true and fair view of the Group's affairs[169]. - The Audit Committee reviews the adequacy of resources and qualifications of the Group's accounting and internal audit functions[176]. - The Board is satisfied that the risk management and internal control systems are reasonably effective and adequate, covering all material controls including financial, operational, and compliance controls[180].
闽港控股(00181) - 2023 - 中期财报