Revenue and Profit Performance - The Group's revenue for the six months ended September 30, 2022, was HK$30,034,000, representing a decrease of 15.6% compared to HK$35,581,000 in the previous period[11]. - The Group recognized a loss attributable to owners of HK$8,625,000 for the Period, a turnaround from a profit of HK$3,036,000 in the previous period, driven by decreased fair value gains and increased losses in securities trading[27]. - Profit for the period was a loss of HK$6,745, compared to a profit of HK$873 in 2021[153]. - Total comprehensive loss for the period was HK$21,141, significantly higher than HK$3,609 in the previous year[153]. - Basic and diluted earnings per share attributable to ordinary equity holders of the company were HK(0.15) cents, compared to HK0.05 cents in 2021[152]. Segment Performance - The Group's core profit generator remained the money lending segment despite the overall economic challenges[7]. - The cruise ship charter services segment generated income of HK$1,015,000, compared to nil in the previous year[11]. - The property investment segment recorded a decline in profit during the period[7]. - The securities trading segment reported an increase in loss to HK$13,287,000, up from HK$3,857,000, primarily due to fair value losses of HK$18,579,000 on equity investments[42]. - The segment recorded a significant profit decrease of 64.8%, from HK$22,529,000 in the previous period to HK$7,926,000 for the current period[40]. Economic and Market Conditions - Hong Kong's GDP contracted by 4.5% in the July-to-September period, marking its third consecutive quarter of contraction[6]. - The Hang Seng Index hit its lowest levels in over a decade, falling below the 15,000 mark[6]. - The Group's diversified property investment portfolio helped mitigate losses in Hong Kong, with stable revenue from Singapore properties[37]. Financial Position and Assets - As of September 30, 2022, the Group's net current assets were HK$903,909,000, a decrease from HK$921,104,000 as of March 31, 2022[78]. - The Group's equity attributable to owners was HK$1,558,608,000 as of September 30, 2022, down from HK$1,579,704,000 as of March 31, 2022[78]. - Non-current assets totaled HK$1,013,019, slightly down from HK$1,015,738 as of March 31, 2022[155]. - The total assets as of September 30, 2022, were HK$1,922,283,000, a decrease from HK$1,965,892,000 as of March 31, 2022[163]. Cash Flow and Liquidity - Cash and cash equivalents amounted to HK$413,058,000 as of September 30, 2022, compared to HK$401,548,000 as of March 31, 2022[78]. - The company reported a net increase in cash and cash equivalents of HK$ (48,532,000) for the period, down from an increase of HK$ 45,505,000 in the prior year[169]. - Cash generated from operations was HK$ (44,741,000), a significant decrease compared to HK$ 129,065,000 in the same period of 2021, representing a decline of approximately 134.7%[167]. Impairment and Provisions - The Group recorded a net provision for impairment losses of HK$1,182,000 on loan and interest receivables, compared to a net reversal of HK$332,000 in 2021[17]. - The Group recognized an impairment loss provision of HK$1,182,000 for loan and interest receivables during the Period, compared to a reversal of HK$332,000 in the previous year[32]. Share Capital and Options - As of 30 September 2022, the total number of issued shares of the Company was 5,780,368,705[115]. - The Share Option Scheme expired on 3 September 2022, and no further options will be offered under this scheme[95]. - The total number of share options at 30 September 2022 was 116,800,000, down from 132,800,000 at 1 April 2022, reflecting a lapse of 16,000,000 options[135]. Governance and Compliance - The Company has complied with all code provisions of the Corporate Governance Code throughout the six months ended 30 September 2022[101]. - The independent review report confirms that no significant matters were identified that would affect the interim financial information[150]. - The company’s interim financial information is prepared in accordance with HKAS 34, ensuring material compliance with relevant accounting standards[150]. Future Outlook - The management is exploring opportunities for financing from potential financial institutions and equity funding[78]. - The gradual reopening of borders and stabilization of the pandemic is anticipated to create new investment opportunities for the Group[100]. - The Group plans to manage its business strategies cautiously in the money lending, property investment, and securities trading sectors due to expected economic pressures[100].
新世纪集团(00234) - 2023 - 中期财报