Financial Performance - Revenue for the first half of 2022 decreased by 0.7% to HKD 56,202,000 compared to HKD 56,606,000 in the same period of 2021[9]. - The underlying recurring profit dropped by 37.7% to HKD 7,779,000 from HKD 12,496,000 year-on-year[9]. - The reported loss for the period was HKD 2,207,000, a significant decline from a profit of HKD 10,282,000 in the previous year[10]. - The total comprehensive loss attributable to owners for the six months ended June 30, 2022, was approximately HKD 12,418,000, compared to a profit of HKD 26,279,000 in 2021[12]. - Operating profit dropped significantly to HKD 1,189, down 91.7% from HKD 14,289 year-on-year[40]. - The group incurred a loss of HKD 2,207,000 for the period, compared to a profit of HKD 10,282,000 in the same period of the previous year[55]. - The basic and diluted loss per share for the period was HKD 0.7 cents, compared to earnings of HKD 3.3 cents in the previous year[41]. - The operating performance for the first half of 2022 showed a loss of HKD 1,189,000, a significant improvement from a loss of HKD 14,289,000 in the first half of 2021[59]. Revenue Breakdown - Healthcare segment revenue slightly decreased by 0.6% to HKD 53,055,000, while property investment revenue fell by 1.9% to HKD 3,118,000[9]. - Revenue from the healthcare segment slightly decreased by 0.6% to HKD 53,055,000, down from HKD 53,399,000 in 2021, with a profit drop of 12.7% to HKD 18,571,000[13]. - Sales in the China market declined by 7.4% to HKD 35,685,000 due to lockdowns affecting logistics and sales revenue[13]. - The North American market saw significant growth of 98.8%, with sales reaching HKD 4,623,000, up from HKD 2,325,000 in 2021[13]. Investment Properties - The loss was primarily due to unrealized fair value losses on investment properties amounting to HKD 7,101,000, compared to HKD 3,458,000 in the prior year[10]. - The unrealized fair value loss of investment properties for the period was HKD 7,101,000, compared to HKD 3,458,000 in the previous year[28]. - The valuation of investment properties in Singapore remained unchanged, while the total valuation decreased by 6.7% from HKD 285,624,000 to HKD 266,482,000 due to global economic impacts[29]. - The company recorded a net revaluation loss of HKD 3,000,000 on investment properties in Hong Kong for the first half of 2022, compared to a gain of HKD 7,300,000 in the same period of 2021[70]. Equity and Assets - Total equity decreased by 4.2% to HKD 677,852,000 from HKD 707,722,000 year-on-year[5]. - The net asset value per share fell by 4.0% to HKD 2.18 from HKD 2.27[5]. - Total assets decreased to HKD 1,390,751 as of June 30, 2022, from HKD 1,437,288 as of December 31, 2021[42]. - Non-current assets decreased to HKD 604,774 from HKD 631,310 year-on-year[42]. - The group's total assets as of June 30, 2022, amounted to HKD 823,479,000, a decrease from HKD 837,749,000 as of December 31, 2021[58]. Cash Flow and Liabilities - For the six months ended June 30, 2022, the net cash generated from operating activities was HKD 8,685,000, a significant decrease from HKD 37,511,000 in the same period of 2021, representing a decline of approximately 77.8%[48]. - The total cash and cash equivalents at the end of the reporting period increased to HKD 171,240,000 from HKD 153,321,000 year-on-year, reflecting an increase of about 11.7%[48]. - The group's liabilities totaled HKD 145,627,000 as of June 30, 2022, compared to HKD 130,027,000 at the end of 2021, indicating an increase of approximately 12%[58]. - The group reported a total of HKD 9,650,000 in accounts payable as of June 30, 2022, compared to HKD 9,280,000 as of December 31, 2021[81]. Operational Challenges and Outlook - The overall economic recovery remains unclear, with global growth slowing and inflation rising impacting the company's operations[9]. - The company remains confident in its strong fundamentals despite facing unprecedented challenges in the current environment[4]. - The company plans to enhance marketing activities in North America to capture new market segments in the second half of the year[15]. - The company plans to continue focusing on cost management and exploring new market opportunities to improve financial performance[43]. - The company plans to continue exploring market expansion opportunities and new product development strategies in the upcoming periods[63]. Corporate Governance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules and has complied with the code provisions for the six months ending June 30, 2022, except for certain deviations[108]. - The roles of the Chairman and CEO are held by the same individual, with responsibilities shared among other executive directors to maintain a balance of power[109]. - The audit committee, composed of three independent non-executive directors, reviewed the interim financial report for the six months ending June 30, 2022[110].
白花油(00239) - 2022 - 中期财报