Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 73,748,000, an increase of 13.5% compared to HKD 64,898,000 for the same period in 2021[11]. - Gross profit for the same period was HKD 46,101,000, up from HKD 37,708,000, reflecting a gross margin improvement[11]. - The company reported a net loss of HKD 54,172,000 for the six months ended September 30, 2022, compared to a net loss of HKD 18,090,000 in the prior year, indicating a significant increase in losses[11][14]. - The total comprehensive loss for the period was HKD 182,853,000, compared to HKD 18,079,000 in the previous year, primarily due to foreign exchange losses[14]. - The basic and diluted loss per share was HKD 0.742, compared to HKD 0.248 for the same period last year[11]. - The company experienced a significant increase in expected credit losses, with a provision of HKD 4,930,000 compared to a reversal of HKD 7,597,000 in the previous year[11]. - Other income and gains for the period were HKD 998,000, a decrease from HKD 3,792,000 in the prior year[11]. - The fair value loss on investment properties was HKD 70,588,000, compared to a loss of HKD 9,639,000 in the previous year, indicating a deterioration in property valuations[11]. - The total pre-tax loss for the six months ended September 30, 2022, was HKD 57,838,000, compared to a pre-tax loss of HKD 20,749,000 in the same period of 2021[48]. - The group reported a net loss of HKD 54,156,000 for the six months ended September 30, 2022, compared to a net loss of HKD 18,078,000 in the same period of 2021[80]. Assets and Liabilities - As of September 30, 2022, total assets amounted to HKD 2,675,169,000, a decrease of 7.8% from HKD 2,902,087,000 as of March 31, 2022[19]. - Non-current assets decreased to HKD 1,893,087,000 from HKD 2,098,690,000, representing a decline of 9.8%[19]. - Current assets totaled HKD 782,082,000, slightly down from HKD 803,397,000, a decrease of 2.6%[19]. - Total liabilities were HKD 1,011,282,000, down from HKD 1,055,347,000, indicating a reduction of 4.2%[19]. - The equity attributable to owners of the company decreased to HKD 1,631,251,000 from HKD 1,814,088,000, a decline of 10.1%[19]. - The company's total equity as of September 30, 2022, was HKD 1,663,887,000, down from HKD 1,846,740,000, a decrease of 9.8%[19]. - The company's current liabilities amounted to HKD 708,326,000, a slight decrease from HKD 736,394,000, representing a reduction of 3.8%[19]. - The total segment liabilities decreased to HKD 116,605, down 9.7% from HKD 129,250[51]. - Trade payables increased to HKD 13,277,000 as of September 30, 2022, from HKD 11,495,000 as of March 31, 2022, representing a growth of 15.5%[117]. - Other payables and received deposits decreased to HKD 56,445,000 as of September 30, 2022, down from HKD 62,412,000 as of March 31, 2022, a decline of 9.4%[117]. Cash Flow and Financing - For the six months ended September 30, 2022, the net cash generated from operating activities was HKD 17,266,000, a decrease of 69.6% compared to HKD 56,711,000 for the same period in 2021[31]. - Total cash and cash equivalents at the end of the period were HKD 48,370,000, down 46.5% from HKD 90,496,000 at the end of the same period in 2021[31]. - The financing activities net cash used was HKD 6,842,000, a significant decrease from net cash generated of HKD 2,142,000 in the previous year[31]. - The company incurred interest expenses of HKD 13,309,000, a substantial increase from HKD 2,472,000 in the same period last year[31]. - The company reported a total borrowing of HKD 284,000,000 as of September 30, 2022, an increase from HKD 266,000,000 as of March 31, 2022, marking a rise of 6.8%[123]. - The company's total borrowings were approximately HKD 862,274,000 as of September 30, 2022, down from HKD 893,696,000 as of March 31, 2022[164]. Segment Performance - The agricultural business segment reported revenue of HKD 42,183,000, a significant increase of 35.1% from HKD 31,243,000 in the same period last year[48]. - The property investment segment generated revenue of HKD 13,573,000, a decrease of 11.6% from HKD 15,350,000 in the previous year[48]. - The hotel business segment's revenue was HKD 17,992,000, slightly down by 1.7% from HKD 18,305,000 in the same period last year[48]. - Revenue from external customers in China for the six months ended September 30, 2022, was HKD 31,565, a decrease of 6.2% from HKD 33,655 in the same period of 2021[64]. - Revenue from Bolivia increased to HKD 42,183, up 35.1% from HKD 31,243 year-on-year[64]. Investment and Fair Value - The fair value loss on investment properties was HKD 70,588 for the period[56]. - The fair value of financial assets held for trading was HKD 656,107,000 as of September 30, 2022, compared to HKD 667,906,000 as of March 31, 2022[103]. - The company reported a fair value gain of approximately HKD 42,788,000 from investments in Heilongjiang Guozhong Water Co., Ltd. for the six months ended September 30, 2022[103]. - The group held securities investments totaling approximately HKD 656,107,000, representing 24.5% of total assets of HKD 2,675,169,000[154]. - The group agreed to sell 227,312,500 shares of Heilongjiang Guozhong Water Affairs Co., Ltd. for a total consideration of RMB 577,373,750 (approximately HKD 656,107,000) to Shanghai Pengxin and Mr. Jiang[156]. Management and Governance - The company has complied with the corporate governance code throughout the review period, with some deviations noted[190]. - The audit committee reviewed the interim report for the six months ending September 30, 2022[194]. - The company plans to adopt a cautious approach to manage its business and strategies amid political and economic uncertainties[160]. - The company did not purchase, sell, or redeem any of its listed securities during the six months ending September 30, 2022[189]. Employee and Shareholder Information - The company employed approximately 155 staff as of September 30, 2022, down from 160 as of March 31, 2022[173]. - The number of issued and fully paid ordinary shares remained at 7,294,369,363 as of September 30, 2022[112]. - The total shares held by major shareholders include 1,742,300,000 shares owned by Jiang Zhaobai, representing 23.89% of the total shares[178]. - Rich Monitor Limited holds 1,033,300,000 shares, accounting for 14.17% of the total shares, while Pengxin Holdings Limited owns 709,000,000 shares, representing 9.72%[183].
润中国际控股(00202) - 2023 - 中期财报