Financial Performance - The Group reported a consolidated profit after taxation attributable to shareholders of HK$31,346,000, a significant decrease of approximately 76.22% compared to HK$131,832,000 for the same period in 2021[15]. - Basic earnings per share for the first half of 2022 was 1.59 HK cents, down from 6.69 HK cents in 2021[15]. - Total comprehensive expense for the period was HK$521,198,000, compared to a comprehensive income of HK$340,713,000 in the previous year[140]. - Profit for the period attributable to owners of the company was HK$31,346,000, a significant decrease of 76.2% from HK$131,832,000 in the same period last year[138]. - Total revenue for the six months ended June 30, 2022, was HK$301,780,000, down 24.3% from HK$398,292,000 in 2021[163]. - Revenue from property sales decreased to HK$164,374,000, a decline of 32.8% from HK$244,658,000 in the previous year[163]. - The company reported a net gain on financial assets at fair value through profit or loss of HK$8,940,000, down from HK$12,146,000 in the previous year[138]. - Profit before taxation for the six months ended June 30, 2022, was HK$107,710,000, compared to HK$298,608,000 in 2021, indicating a significant decrease of about 64.0%[170][177]. Revenue Breakdown - For the first six months of 2022, the project recognized total revenue of HK$238.49 million, accounting for approximately 65.85% of the Group's total operating revenue[26]. - The property development and investment segment generated a total income of HK$287.33 million, contributing approximately 79.34% to the Group's operating revenue for the same period[29]. - The property investment segment contributed a segment profit of HK$80,732,000, an increase from HK$75,260,000 in 2021, driven by rental and management income from investment properties in Shanghai[17]. - The property development and trading segment reported a segment profit of HK$37,995,000, a decrease from HK$164,680,000 in 2021, primarily due to reduced property sales in Shanghai[17]. - The securities trading business generated a segment profit of HK$8,937,000, down from HK$12,064,000 in 2021, ranking third in profit contribution among the Group's operating segments[23]. Cash Flow and Liquidity - The Group recorded a net decrease in cash and cash equivalents of HK$382,477,000 during the period, primarily due to pledged bank deposits and dividend payments[60]. - Cash and cash equivalents at June 30, 2022, were HK$3,883,335,000, slightly up from HK$3,864,448,000 at the end of June 2021[151]. - Net cash used in operating activities for the six months ended June 30, 2022, was HK$48,167,000, a significant improvement compared to HK$261,511,000 in the same period of 2021[151]. - The net cash used in investing activities was HK$209,651,000 for the first half of 2022, compared to a cash inflow of HK$1,214,499,000 in the same period of 2021[151]. Assets and Liabilities - The Group's total liabilities were HK$6,144,304,000 as of June 30, 2022, with approximately 65.15% being current tax liabilities[61]. - The Group's total liabilities, excluding contract liabilities, were HK$6,144,304,000, down from HK$6,487,567,000 as of December 31, 2021, indicating a reduction in liabilities[66]. - Non-current assets decreased to HK$9,243,456,000 from HK$9,439,476,000 as of December 31, 2021[143]. - Current liabilities totaled HK$4,774,005,000, a decrease from HK$5,155,090,000 at the end of 2021[145]. - The Group's total equity attributable to owners of the company was HK$12,879,841,000, a decrease from HK$13,500,950,000 at the end of 2021[145]. Shareholding and Corporate Governance - Madam Hsu Feng held a total of 908,001,416 shares in the company, representing 46.067% of the total issued shares[93]. - The company has established a share option scheme for incentivizing performance, which became ineffective as of May 31, 2022[81]. - The company complied with all applicable code provisions of the Corporate Governance Code throughout the reporting period, except for the dual role of Madam Hsu Feng as both Chairman and Managing Director[127]. - Major shareholders include Jin Hua Group Limited with 252,919,265 shares (12.832%), Chuan He Group Limited with 247,300,000 shares (12.547%), and Jin Yu Investment Limited also with 247,300,000 shares (12.547%)[117]. Market Conditions and Future Outlook - The Group remains optimistic about the economic situation in Mainland China, particularly the demand for properties catering to high-income middle class and high net-worth individuals[73]. - The Group anticipates that Tomson Riviera and One Penha Hill will be the principal sources of profit in 2022[73]. - The construction of the Jinqiao-Zhangjiang project in Pudong, Shanghai, is actively proceeding and is expected to be a major profit contributor in the coming years[73]. Employee Information - The Group engaged around 410 employees as of June 30, 2022, with total emoluments paid amounting to HK$34.13 million during the review period[79]. - The total number of employees in the group was approximately 410, with total employee compensation amounting to approximately HK$34,130,000[81].
汤臣集团(00258) - 2022 - 中期财报