Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 118,089,000, a decrease of 12.7% compared to HKD 135,234,000 in the same period of 2021[6] - Operating profit for the same period was HKD 81,247,000, down 20.5% from HKD 101,981,000 in 2021[6] - Profit attributable to shareholders for the six months was HKD 11,818,000, a significant decline of 93.7% compared to HKD 186,425,000 in the previous year[6] - Earnings per share decreased to HKD 0.24 from HKD 12.73, reflecting a drop of 98.1%[6] - The total comprehensive income for the period was HKD (98,749,000), compared to HKD 112,638,000 in the previous year, indicating a significant decline[18] - The group reported a pre-tax profit of HKD 19,473,000, significantly down from HKD 198,270,000 in the previous year[42] - The group recorded a total comprehensive loss attributable to owners of the company of HKD 93,094,000 for the period, compared to a profit of HKD 40,579,000 in the previous year[18] Assets and Liabilities - Total assets as of September 30, 2022, were HKD 11,049,237,000, a slight decrease from HKD 11,132,591,000 as of March 31, 2022[11] - Total liabilities increased to HKD 2,476,846,000 from HKD 2,459,106,000, indicating a rise in financial obligations[14] - The company's retained earnings as of April 1, 2022, stood at HKD 6,574,823,000, reflecting an increase from HKD 6,376,632,000 as of April 1, 2021[18] - The total equity as of April 1, 2022, was HKD 8,673,485,000, compared to HKD 8,505,916,000 as of April 1, 2021, showing an increase of 1.97%[18] - The total bank borrowings stood at HKD 2,281,000,000, unchanged from March 31, 2022, with a total debt to total assets ratio of 20.6%[101] Cash Flow and Dividends - The net cash generated from operating activities for the six months ended September 30, 2022, was HKD 81,870,000, a decrease of 17.4% compared to HKD 99,052,000 for the same period in 2021[20] - The company did not declare an interim dividend for the current period, compared to HKD 11,540,000 in the previous year[6] - The company paid dividends to non-controlling shareholders amounting to HKD 8,000,000 during the period, down from HKD 24,800,000 in the previous year[20] - The board of directors did not recommend any interim dividend for the six months ended September 30, 2022, compared to HKD 0.01 per share in the previous year[124] Investment Properties and Revenue Segments - The group's property and hotel segment generated revenue of HKD 110,908,000, compared to HKD 130,204,000 in the prior year, representing a decrease of 14.7%[33] - The investment and other segment reported revenue of HKD 7,181,000, up from HKD 5,030,000, marking an increase of 42.7%[33] - The group's investment properties in Shanghai and Hong Kong recorded a fair value loss of HKD 21.1 million, compared to a profit of HKD 2.3 million in the previous year[89] - The occupancy rate of the Kin Sang Plaza in Kwun Tong dropped to 58% from 87% year-on-year, contributing rental income of HKD 21.5 million, down from HKD 30.8 million[90] - The property at 68 Yee Wo Street, Causeway Bay, had an occupancy rate of 81%, contributing HKD 50.2 million in rental income, down from HKD 58.1 million last year[90] Market Conditions and Challenges - The company faced challenges in the hotel and tourism sectors due to COVID-19 restrictions, leading to decreased rental rates and occupancy rates, particularly in Hong Kong[86] - The company noted that the global financial market experienced significant adjustments due to rising inflation and interest rate hikes by central banks, impacting overall market conditions[85] - The company is focusing on improving profitability in its hotels in Bangkok and Pattaya during the transitional recovery period[87] Management and Governance - The company’s management compensation for the period included director fees of HKD 138,000 and total salaries, allowances, and benefits of HKD 4,929,000, resulting in a total of HKD 5,103,000, slightly up from HKD 5,040,000 in the previous year[83] - The company has adopted the corporate governance code and complied with all its provisions during the entire period ended September 30, 2022[129] - All directors confirmed compliance with the standards set out in the code of conduct for securities transactions during the period ended September 30, 2022[131]
建生国际(00224) - 2023 - 中期财报