Financial Performance - The company reported a loss attributable to equity holders of HKD 10,314,000 for the six months ended June 30, 2022, compared to a profit of HKD 152,140,000 in the same period last year, representing a 107% decline [14]. - Revenue decreased by 66% to HKD 55,552,000 from HKD 161,767,000 year-on-year [12]. - The company's earnings per share (EPS) was HKD (0.30), down from HKD 4.45, marking a 107% decrease; adjusted EPS excluding fair value changes was HKD 0.34, down from HKD 3.28, a 90% decline [12]. - The company's operating profit for the period was HKD 11,575,000, down from HKD 168,377,000 in the prior year, indicating a substantial reduction in operational performance [37]. - Total revenue and other income for the six months ended June 30, 2022, was HKD 125,023,000, a decrease from HKD 125,751,000 in the previous year [37]. - The company recognized other comprehensive income of HKD 117,009,000 for the period, compared to HKD 223,952,000 in the previous year, showing a decline in overall comprehensive income [39]. - The company paid dividends of HKD 47,555,000 during the period, slightly lower than HKD 47,781,000 paid in the previous year, reflecting a cautious approach to cash distribution [55]. - The company declared no interim dividend for the six months ended June 30, 2022, compared to no dividend declared in the same period of 2021 [95]. Investment Properties - The fair value change of investment properties resulted in a loss of HKD 21,819,000, compared to a gain of HKD 40,043,000 in the previous year [12]. - The fair value change of investment properties resulted in a loss of HKD 16,159,000, contrasting with a gain of HKD 38,400,000 in the previous year, highlighting volatility in property valuations [37]. - The carrying value of investment properties as of June 30, 2022, was HKD 2,483,000,000, down from HKD 2,499,000,000 as of December 31, 2021 [103]. - The fair value of investment properties decreased by HKD 16,159,000 during the period, reflecting market conditions [104]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to HKD 5,635,571,000, an increase from HKD 5,553,540,000 at the end of 2021, indicating growth in asset base [45]. - The company's total equity increased to HKD 5,526,079,000 as of June 30, 2022, compared to HKD 5,466,939,000 at the end of 2021, reflecting a slight improvement in financial stability [45]. - The group’s net current assets were approximately HK$508 million as of June 30, 2022, down from HK$547.7 million as of December 31, 2021 [21]. - The debt-to-equity ratio increased from 0.01% as of December 31, 2021, to 0.16% as of June 30, 2022 [21]. - Total trade and other payables amounted to HKD 52,582 million, down from HKD 57,265 million as of December 31, 2021, indicating a decrease of approximately 8.9% [121]. Employee and Operational Metrics - The group employed 12 employees as of June 30, 2022, compared to 13 employees in the previous year [28]. - Employee benefits expenses for the six months ended June 30, 2022, were HKD 9,374 million, down from HKD 12,115 million in the previous year, representing a decrease of 22.7% [123]. - The company incurred employee benefit expenses of HKD 11,873, a decrease from HKD 15,161 in the previous year [87]. Market and Economic Conditions - The occupancy rate of Nanyang Plaza in Kwun Tong is currently 89.1%, with significant rental activity being low due to ongoing economic challenges [15]. - The company plans to remain cautious and monitor market fluctuations for the remainder of the year, especially in light of rising interest rates and geopolitical tensions [19]. Shareholder Information - The major shareholder, Tankard Shipping Co. Inc., holds 5,500,000 shares, representing 16.19% of the issued share capital [26]. - The company did not purchase, sell, or redeem any of its shares during the period [22]. - The weighted average number of ordinary shares issued decreased slightly to 33,968,000 shares from 34,159,000 shares year-on-year [94]. Financial Risks and Governance - The group faces various financial risks, including market risk, credit risk, and liquidity risk, with a focus on minimizing potential adverse effects on financial performance [66]. - The company has adopted the updated Corporate Governance Code effective from January 1, 2022, and will fully comply in its 2022 report [32]. - The audit committee reviewed the group’s accounting principles and practices, including the unaudited interim financial statements for the six months ended June 30, 2022 [35].
NANYANG HOLD(00212) - 2022 - 中期财报