Financial Performance - For the six months ended June 30, 2022, the total revenue was HK$376,776,000, a decrease of 3.0% from HK$389,816,000 in the same period of 2021[5] - The net profit for the period was HK$119,339,000, down 49.8% from HK$237,341,000 in the previous year[6] - Basic earnings per share decreased to HK$0.32, down from HK$0.61, reflecting a decline of 47.7%[5] - The total comprehensive income for the period was a loss of HK$137,623,000, compared to a gain of HK$457,827,000 in the same period last year[6] - The company's profit for the six months ended June 30, 2022, was HKD 119,497,000, a decrease from HKD 232,673,000 for the same period in 2021, representing a decline of approximately 48.7%[38] - The total comprehensive income for the period was HKD 27,395,000, significantly lower than HKD 138,617,000 in the previous year[33] Revenue Breakdown - Rental income increased to HK$156,949,000, up 5.0% from HK$149,023,000 year-on-year[5] - Revenue from hotel operations increased significantly to HKD 80,804,000, up 74.7% from HKD 46,205,000 in the previous year[18] - The company reported a decrease in sales from the retail segment to HKD 42,580,000, down 62.5% from HKD 113,460,000 in the previous year[18] - Revenue from property management was HKD 12,523,000, showcasing the company's diversified income streams[20] - The revenue from trade and manufacturing was HKD 44,088,000, contributing to the overall financial performance[20] Expenses and Costs - Administrative and operating expenses rose to HK$131,700,000, an increase of 15.7% from HK$113,844,000[5] - Total operating expenses for the period were HKD 260,175,000, highlighting the company's cost management efforts[26] - The company incurred employee costs of HKD 71,613,000 for the current period, up from HKD 67,920,000 in the previous year, reflecting an increase of approximately 3.5%[37] - Depreciation of property, plant, and equipment increased to HKD 50,660,000 from HKD 35,774,000, indicating a rise of approximately 41.6%[37] Assets and Liabilities - Non-current assets as of June 30, 2022, totaled HKD 12,318,376, an increase from HKD 12,201,944 as of December 31, 2021, representing a growth of approximately 0.96%[7] - Current assets amounted to HKD 3,816,848 as of June 30, 2022, down from HKD 3,981,928 as of December 31, 2021, indicating a decrease of about 4.15%[7] - Current liabilities increased to HKD 1,456,439 as of June 30, 2022, compared to HKD 1,221,515 as of December 31, 2021, reflecting an increase of approximately 19.25%[7] - The net current assets decreased to HKD 2,360,409 as of June 30, 2022, from HKD 2,760,413 as of December 31, 2021, a decline of about 14.48%[7] - Total non-current liabilities were HKD 1,688,000 as of June 30, 2022, slightly down from HKD 1,727,946 as of December 31, 2021, showing a decrease of approximately 2.30%[8] Dividends and Shareholder Information - The company declared an interim cash dividend of HK$0.18 per share, payable on September 19, 2022[4] - Major shareholder Liao Group Limited holds 132,326,710 shares, representing 34.95% of the issued share capital[88] - Major shareholder Aibo Group Limited owns 77,834,290 shares, accounting for 20.56% of the issued share capital[88] - The interim dividend declared for the current period is HKD 0.18 per share, consistent with the previous year's interim dividend[39] Investment and Financing Activities - The company reported a significant loss in fair value of financial instruments amounting to HK$16,355,000, compared to a gain of HK$190,369,000 in the previous year[6] - The company obtained bank loans of approximately HKD 376,000,000 during the period, compared to HKD 160,000,000 as of June 30, 2021[12] - The company has committed to provide loans to joint ventures amounting to HKD 279,131,000 during the period[49] Market and Operational Insights - The company is focusing on expanding its hotel operations, particularly in Thailand, as part of its growth strategy[24] - The overall occupancy rate of the group's main investment properties was maintained at 85.2% as of June 30, 2022[65] - The hotel project in Thailand recorded total revenue of HKD 16.9 million for the period ending June 30, 2022, with measures in place to improve occupancy rates and dining business[81] Compliance and Governance - The board of directors confirmed compliance with the corporate governance code during the review period[91] - The company’s interim financial report for the six months ending June 30, 2022, was reviewed by Deloitte, confirming adherence to accounting standards[96]
廖创兴企业(00194) - 2022 - 中期财报