Financial Performance - Total revenue decreased to HKD 108.6 million, down 51.3% from HKD 223.4 million in 2021 due to the termination of gaming operations[13] - The group recorded a loss attributable to owners of HKD 155.7 million, compared to a loss of HKD 84 million in 2021, with a basic loss per share of HKD 0.13[13] - The group reported a loss from continuing operations of HKD 104.95 million for the six months ended September 30, 2022, compared to a loss of HKD 16.86 million for the same period in 2021[36] - The total comprehensive loss for the period was HKD 190.94 million, compared to HKD 102.87 million for the same period in 2021[37] - The company reported a loss before tax of HKD (155,658,000) for the six months ended September 30, 2022, compared to a loss of HKD (83,968,000) in the same period last year, indicating an increase in losses of approximately 85.5%[81] - The company’s total comprehensive loss for the period was HKD (155,658) thousand, compared to a loss of HKD (83,968) thousand in the previous period, indicating a worsening financial performance[43] Revenue Breakdown - Hotel and serviced apartment revenue increased by 14.3% to HKD 84.2 million, accounting for 77.5% of total revenue[21] - Gaming revenue dropped to HKD 24.4 million, down 83.7% from HKD 149.7 million in 2021 following the cessation of gaming operations[23] - The group's gaming revenue decreased to HKD 24,382,000 (2021: HKD 149,731,000), accounting for 22.5% of total revenue (2021: 67.0%) due to the termination of gaming operations[49] - Hotel and serviced apartment revenue increased to HKD 84,181,000 (2021: HKD 73,648,000), representing 77.5% of total revenue (2021: 33.0%), primarily due to service income from the group providing services to 澳娛 and additional rental income from property acquisitions[49] Asset and Liability Management - As of September 30, 2022, the group's current assets and current liabilities were HKD 548.3 million and HKD 279.8 million, respectively, compared to HKD 1,129.9 million and HKD 309.2 million as of March 31, 2022[27] - The company reported a total asset value of HKD 4,515,942 thousand, down from HKD 4,721,272 thousand, reflecting a decrease of approximately 4.4%[41] - The company's total liabilities decreased from HKD 79,541 thousand to HKD 69,560 thousand, a reduction of approximately 12.4%[41] - The company’s equity attributable to owners decreased to HKD 3,634,346 thousand from HKD 3,794,415 thousand, a decline of approximately 4.2%[41] - The company’s total assets pledged as of September 30, 2022, amounted to HKD 613,838,000, a decrease from HKD 1,725,086,000 as of March 31, 2022[102] Shareholder Actions - The company repurchased a total of 8,815,000 shares at an average price of HKD 0.498 per share, reducing the total issued shares by approximately 0.7% to 1,188,490,983 shares as of September 30, 2022[28] - The company repurchased a total of 8,815,000 shares in September 2022, at a total cost of HKD 4,389,375, aiming to enhance net asset value per share[127] - The company declared no interim dividend for the year ending March 31, 2023, compared to HKD 0.015 per share in 2021[86] Market Position and Strategy - The group is optimistic about the long-term development of the industry, particularly in the Greater Bay Area, and aims to strengthen its market position[24] - The group operates six hotels and serviced apartments in Hong Kong and Macau, enhancing its service offerings[14] - The company plans to retain its hotel operations while terminating its gaming business post the service agreement expiration with 澳娛[48] Acquisitions and Investments - The acquisition of The Unit Davis for approximately HKD 490 million contributed to a decrease in cash and bank deposits to HKD 502.4 million as of September 30, 2022[25] - The group completed the acquisition of Ever Explore Holdings Limited for HKD 490 million, expanding its asset portfolio and market position[32] - The acquisition of The Unit Davis property was completed for HKD 490,000,000, aimed at expanding the hotel business and diversifying the revenue base[48] Operational Metrics - Total employee count decreased to 429 as of September 30, 2022, down from 876 as of March 31, 2022, with total employee costs approximately HKD 173.7 million for the period[33] - The company’s management compensation for the six months ended September 30, 2022, totaled HKD 516,000, a decrease from HKD 580,000 in the same period of 2021[110] Cash Flow and Financial Health - The net cash used in operating activities for the six months ended September 30, 2022, was HKD (54,262) thousand, compared to HKD (64,403) thousand for the same period in 2021, indicating an improvement[45] - Cash and cash equivalents at the end of the reporting period stood at HKD 404,523 thousand, down from HKD 671,097 thousand, a decrease of about 39.8%[45] - The group maintained a strong cash position of HKD 437,263,000, with a net cash status and a capital debt ratio of zero, despite utilizing HKD 490,000,000 for acquisitions[51] Related Party Transactions - The company reported related party transactions, including expenses of HKD 889,000 for professional services and HKD 1,741,000 for administrative expenses during the six months ended September 30, 2022[108] - The company’s related party transactions included rental income of HKD 1,883,000 received from a related company during the six months ended September 30, 2022[108]
英皇娱乐酒店(00296) - 2023 - 中期财报