Financial Performance - For the six months ended September 30, 2022, the company reported total revenue of HKD 266,291,000, a decrease of 29% from HKD 374,119,000 in the same period of 2021[2]. - Gross profit for the same period was HKD 45,569,000, slightly up from HKD 45,200,000 year-on-year[2]. - The net profit for the period was HKD 21,305,000, down 66.9% compared to HKD 64,315,000 in the previous year[5]. - Basic earnings per share decreased to HKD 2.26 from HKD 6.65, reflecting a significant decline in profitability[2]. - The profit before tax for the six months ended September 30, 2022, was HKD 23,974,000, compared to HKD 63,696,000 for the same period in 2021, indicating a significant decrease of about 62%[36][44]. - The profit attributable to shareholders for the same period was approximately HKD 21,330,000, compared to HKD 64,354,000 in the previous year, reflecting a decline of approximately 67%[99]. Revenue and Sales - The total revenue for the six months ended September 30, 2022, was HKD 266,291,000, a decrease from HKD 374,119,000 in the previous year, representing a decline of approximately 29%[40][51]. - Revenue from external sales in Hong Kong and China was HKD 256,500,000 for the six months ended September 30, 2022, down from HKD 362,448,000 in the previous year, a decrease of approximately 29%[51]. - The company recorded other income of HKD 7,771,000, a substantial increase from HKD 2,292,000 in the prior year[2]. Assets and Liabilities - Total assets as of September 30, 2022, were HKD 6,041,027,000, compared to HKD 6,023,802,000 as of March 31, 2022[19]. - The company’s total liabilities decreased to HKD 3,527,345,000 from HKD 3,407,197,000[19]. - The company reported a net asset value attributable to equity holders of HKD 2,512,322,000, down from HKD 2,615,220,000[19]. - The total borrowings of the group as of September 30, 2022, were approximately HKD 4,645,000,000, with a repayment period of 30 years[106]. - The capital-to-debt ratio as of September 30, 2022, was 1.36, up from 1.25 as of March 31, 2022[106]. Cash Flow - The company’s cash and cash equivalents decreased to HKD 903,481,000 from HKD 1,100,196,000[16]. - Cash and cash equivalents at the end of the period were HKD 903,481,000, down from HKD 1,018,923,000 at the end of the previous year, a decrease of about 11%[24]. - The net cash generated from operating activities for the six months ended September 30, 2022, was HKD 113,972,000, compared to a net cash used of HKD 262,995,000 for the same period in 2021[24]. - The company’s total cash outflow from investing activities was HKD 99,147,000 for the six months ended September 30, 2022, compared to HKD 9,455,000 in the previous year, indicating a significant increase in cash used for investments[24]. Dividends and Share Capital - The interim dividend declared for 2022 is HKD 0.03 per share, consistent with the previous year's dividend of HKD 0.03 per share[10]. - The total issued and fully paid share capital as of September 30, 2022, was HKD 92,773,000, down from HKD 94,931,000 as of March 31, 2022, indicating a decrease of approximately 2.3%[80]. - The company repurchased a total of 21,580,000 shares during the six months ended September 30, 2022, with a total cost of approximately HKD 21,942,256[118]. Investments and Properties - The fair value of investment properties increased from HKD 4,347,962,000 as of March 31, 2022, to HKD 4,547,514,000 as of September 30, 2022, representing an increase of approximately 4.6%[11]. - The company holds 100% equity in several long-term investment properties located in Hong Kong, including The Putman, 99 Bonham, One96, and The Jervois[126]. - The company is currently developing a project at 88 Queen Street East, Toronto, with a total area of 3,197 square meters, expected to be completed in 2024[134]. - The company maintains a diverse portfolio of commercial, industrial, and residential properties, reflecting a balanced investment strategy[126]. - The company is focused on long-term property investments, ensuring stability and potential growth in asset value[126]. Employee and Management - The group employed approximately 240 employees across Hong Kong, China, and other overseas countries as of September 30, 2022, with total staff costs recognized in the profit and loss statement amounting to approximately HKD 52,000,000 for the period[111]. - The management's remuneration for the period was approximately HKD 17,226,000, slightly down from HKD 17,826,000 for the same period last year[86]. Corporate Governance - The company has complied with the corporate governance code, except for specific provisions regarding the appointment and rotation of non-executive directors[119]. - The audit and risk management committee has reviewed the accounting principles and practices adopted by the group for the six months ended September 30, 2022[122]. - The company has adopted a standard code for securities trading by directors, confirming compliance during the review period[123].
NATIONAL ELEC H(00213) - 2023 - 中期财报