Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 30,367,740, a significant increase from HKD 3,610,955 in the same period last year, representing a growth of approximately 740%[32] - Operating profit for the period was HKD 6,356,747, compared to HKD 2,294,871 in the previous year, indicating an increase of about 177%[32] - The profit attributable to equity holders of the company was HKD 3,147,880, down from HKD 36,319,783 year-on-year, reflecting a decrease of approximately 91%[32] - Basic and diluted earnings per share were HKD 0.03, a decrease from HKD 0.30 in the previous year, representing a decline of 90%[32] - The fair value loss on investment properties was HKD 7,100,000, compared to a fair value gain of HKD 3,000,000 in the previous year[32] - Rental income for the six months ended September 30, 2022, was HKD 2,196,727, an increase from HKD 1,327,520 in the previous year, representing a growth of 65.3%[65] - Bank interest income rose to HKD 2,308,689 from HKD 1,469,708, marking a year-over-year increase of 56.9%[65] - The company recognized revenue of HKD 25,000,000 from the sale of completed properties held for sale during the period, with no comparable revenue in the previous year[65] Assets and Liabilities - Total assets as of September 30, 2022, were HKD 1,355,495,508, a slight decrease from HKD 1,363,205,674 at the end of the previous period[33] - Non-current assets, primarily investment properties, decreased to HKD 213,200,000 from HKD 220,300,000[33] - Cash and bank balances stood at HKD 277,317,303, showing a minor decrease from HKD 277,613,090[33] - The total equity attributable to equity holders decreased to HKD 1,232,759,003 from HKD 1,268,076,944[39] - Total revenue for the six months was HKD 30,367,740, significantly up from HKD 3,610,955 in the prior year, reflecting a growth of 740.5%[65] - Total assets as of September 30, 2022, amounted to HKD 1,355,495,508, with total liabilities of HKD 122,736,505[75] - The group’s total assets as of September 30, 2022, were HKD 1,555.2 million, compared to HKD 1,171.9 million as of March 31, 2022[89] Cash Flow - The net cash generated from operating activities was HKD 21,568,676, a significant improvement from a cash outflow of HKD 1,390,406 in the same period last year[41] - Cash flows from investing activities showed a net inflow of HKD 14,947,500, up from HKD 10,980,695 in the same period last year[41] - The total cash and cash equivalents at the end of the period were HKD 277,317,303, compared to HKD 264,447,356 at the end of the previous year[41] - The group recorded a foreign exchange loss of HKD 9 million during the review period, contrasting with a foreign exchange gain of HKD 1.5 million in the previous year[126] - The group's cash and cash equivalents as of September 30, 2022, amounted to HKD 277.3 million, slightly down from HKD 277.6 million as of March 31, 2022[131] Dividends - The company proposed an interim dividend of HKD 13,305,600, consistent with the previous year's interim dividend[32] - The company declared an interim dividend of HKD 0.11 per share, consistent with the previous year, totaling HKD 13,305,600[85] - The group paid dividends of HKD 27,820,800 to equity holders during the reporting period, consistent with the previous year[41] Economic Conditions - The local economy showed weakness, with GDP contracting by 4.5% year-on-year in Q3 2022, and private consumption showing no real growth over the past two quarters[128] - The unemployment rate was relatively low at 3.8%, but import and export levels have been declining for several months[128] - The company plans to act cautiously in response to the unpredictable future economic conditions[128] Corporate Governance - The company has adhered to the corporate governance code, except for the separation of roles between the Chairman and CEO, which is managed collectively by the executive directors[146] - The audit committee has been restructured following the resignation of independent non-executive director Ouyang Chang En, effective November 1, 2022[149] - The company is committed to maintaining high-quality corporate governance standards[146] Shareholder Information - As of September 30, 2022, the major shareholders include the late Qin Lan Feng with 32,162,800 shares (26.59% of issued share capital) and Gong Su Xia with 15,150,160 shares (12.52%)[137] - Major shareholders outside the board include Megabest Securities Limited and Profit-taking Company Inc., each holding 11,295,600 shares (9.34%)[137] - The company reported no changes in the ownership of shares that require disclosure under the Securities and Futures Ordinance as of September 30, 2022[141] Compliance and Listing - The company’s shares were suspended from trading on September 15, 2022, following a decision by the Listing Committee due to non-compliance with Listing Rule 13.24[143] - The company must take appropriate actions within 18 months from September 15, 2022, to demonstrate compliance with Listing Rule 13.24, or risk delisting[143] - The financial data for the six months ending September 30, 2022, has been reviewed by the audit committee and the company's auditors[150]
华厦置业(00278) - 2023 - 中期财报