Financial Performance - Revenue for the six months ended January 31, 2023, was HKD 2,512,885,000, a decrease of 9.3% compared to HKD 2,770,827,000 for the same period in 2022[3]. - Gross profit for the same period was HKD 952,846,000, down 5.6% from HKD 1,009,048,000 year-on-year[3]. - Operating loss increased significantly to HKD 956,590,000 from HKD 176,397,000 in the previous year, reflecting a deterioration in operational performance[3]. - The company reported a net loss of HKD 1,623,937,000 for the period, compared to a loss of HKD 715,171,000 in the prior year, indicating a year-on-year increase of 127.5%[4]. - Basic and diluted loss per share was HKD 1.238, compared to HKD 0.522 for the same period last year[3]. - The company reported a loss of HKD 818,604,000 for the period, contributing to a total comprehensive loss of HKD 1,725,264,000[8]. - The company raised HKD 447,083,000 from a rights issue during the period[8]. - The company's share capital increased to HKD 2,178,944,000 from HKD 1,731,861,000, reflecting a growth of 25.8%[8]. - The total reserves decreased from HKD 17,542,722,000 to HKD 16,724,321,000, a decline of 4.7%[8]. Assets and Liabilities - Non-current assets totaled HKD 62,219,066,000 as of January 31, 2023, a decrease from HKD 63,153,622,000 as of July 31, 2022[6]. - Current assets decreased to HKD 18,848,962,000 from HKD 21,351,302,000, reflecting a decline of 11.7%[6]. - As of January 31, 2023, current liabilities totaled HKD 10,633,962,000, a decrease of 18.3% from HKD 13,007,448,000 as of July 31, 2022[7]. - Non-current liabilities were reported at HKD 28,319,410,000, slightly down from HKD 28,423,789,000, indicating a decrease of 0.4%[7]. - The equity attributable to the company's owners was HKD 18,903,265,000, a decrease of 1.9% from HKD 19,274,583,000[7]. - The company's total assets minus current liabilities amounted to HKD 70,434,066,000, down from HKD 71,497,476,000, reflecting a decline of 1.5%[7]. - The company's total liabilities were reported at HKD 876,718, indicating a need for careful management of debt levels[10]. Cash Flow and Investments - The net cash flow used in operating activities for the six months ended January 31, 2023, was HKD (1,075,581) thousand, an improvement from HKD (2,455,616) thousand in the same period last year[11]. - Cash flow from investing activities resulted in a net inflow of HKD 1,024,110 thousand, compared to HKD 1,770,100 thousand in the previous year[13]. - The net cash flow used in financing activities was HKD (1,233,314) thousand, a slight improvement from HKD (1,485,078) thousand in the previous year[13]. - The company made investments in property, plant, and equipment totaling HKD (87,392) thousand, down from HKD (171,731) thousand in the previous year[11]. - The company’s unrestricted cash and bank balances were HKD 3,300,036 thousand, down from HKD 4,935,335 thousand year-over-year[13]. Revenue Segments - Total revenue for the six months ended January 31, 2023, was HKD 2,604,507,000, a decrease of 7.7% compared to HKD 2,822,284,000 in the same period of 2022[21]. - The property development and sales segment generated revenue of HKD 600,158,000, down 30.1% from HKD 858,861,000 year-on-year[21]. - The hotel business reported a loss of HKD 138,367,000, compared to a loss of HKD 167,492,000 in the previous year, indicating an improvement[21]. - The media and entertainment segment, including film and television, saw a revenue increase to HKD 176,048,000 from HKD 147,244,000, representing a growth of 19.6%[21]. - Revenue from rental income was HKD 503,610,000, a decrease from HKD 589,460,000 in the previous year[25]. Market Outlook and Strategy - The company plans to focus on market expansion and new product development to improve future performance[5]. - The company has not provided specific guidance for future performance but indicated ongoing challenges in the market[21]. - The company continues to explore new strategies for market expansion and product development, although specific details were not disclosed in the call[21]. - The company remains cautious and flexible in its approach to new development opportunities amid global economic uncertainties[63]. Property Development and Sales - The Bal Residence project has commenced pre-sales in February 2023, with 3 units sold, totaling 1,016 square feet at an average price of HKD 18,000 per square foot[59]. - The company plans to complete construction of the Bal Residence and Yuen Long projects by the first half of 2024, adding approximately 71,800 square feet and 42,200 square feet respectively to its portfolio[59]. - The company has sold 75 parking spaces at Blue Tongue, generating total sales proceeds of approximately HKD 204.1 million[60]. - All 144 residential units at Yat Fai have been sold, with a total sales area of 45,822 square feet at an average price of HKD 21,300 per square foot[62]. - The company is optimistic about the long-term prospects of the Hong Kong residential property market, driven by strong demand and supply constraints[59]. Hotel and Hospitality Operations - The hotel and serviced apartment operations generated revenue of HKD 421.5 million for the six months ended January 31, 2023, compared to HKD 335.6 million in the same period of 2022, reflecting a growth of approximately 25.6%[190]. - The occupancy rate for the Ocean Park Marriott Hotel in Hong Kong was 45.9%, while the Caravelle Hotel in Ho Chi Minh City recorded an occupancy rate of 55.2%[191]. - The Caravelle Hotel achieved a revenue of HKD 199.5 million, contributing significantly to the overall hotel revenue[191]. - The group is closely monitoring the tourism market in Thailand, where a hotel project in Phuket is still in the planning stage[190]. Media and Entertainment - The cinema operations recorded revenue of HKD 263.1 million for the six months ended January 31, 2023, compared to HKD 223.9 million in 2022, with a loss of HKD 35.2 million, an improvement from a loss of HKD 61.9 million in the previous year[197]. - The media and entertainment segment achieved revenue of HKD 176 million, up from HKD 147.2 million in 2022, with profit increasing from HKD 9.8 million to HKD 17.4 million[198]. - The group organized and invested in 47 performances during the review period, a significant increase from 8 performances in 2022, featuring local, Asian, and international artists[199]. - The group released 5 albums during the review period, down from 6 in 2022, and plans to leverage its music library through new media to enhance music copyright revenue[200].
丽新国际(00191) - 2023 - 中期财报