Financial Performance - Total revenue for the six months ended June 30, 2023, was HKD 121,109,000, compared to HKD 252,000 for the same period in 2022, indicating a significant increase[5] - The gross profit for the same period was HKD 50,884,000, up from HKD 31,518,000 in 2022, reflecting a growth of approximately 61.5%[5] - The operating loss for the six months was HKD 5,153,000, a decrease from a loss of HKD 34,224,000 in the previous year, showing an improvement in operational efficiency[5] - The total comprehensive loss for the period was HKD 82,841,000, compared to HKD 36,024,000 in 2022, indicating a widening of losses[20] - Basic and diluted loss per share was HKD 3.35, compared to HKD 1.44 in the same period last year, reflecting increased losses on a per-share basis[5] - The group reported a loss of HKD 82,446,000 for the six months ended June 30, 2023, compared to a loss of HKD 35,943,000 in the same period of 2022[49] Assets and Liabilities - Non-current liabilities, including bank borrowings, amounted to HKD 1,561,276,000 as of June 30, 2023, compared to HKD 1,550,000,000 at the end of 2022[7] - Total assets less current liabilities were HKD 4,430,768,000, a slight decrease from HKD 4,504,458,000 at the end of 2022[7] - The total equity attributable to owners of the company was HKD 2,867,612,000, down from HKD 2,925,825,000 at the end of 2022[7] - Total assets as of June 30, 2023, amounted to HKD 5,229,087,000, a slight decrease from HKD 5,247,857,000 as of December 31, 2022[37] - The group’s total liabilities decreased to HKD 5,229,087,000 as of June 30, 2023, from HKD 5,247,857,000 as of December 31, 2022[37] - The group reported a total debt of HKD 1,702,087,000 as of June 30, 2023, with a debt-to-equity ratio of 59%, up from 57% as of December 31, 2022[75] Revenue Sources - The company reported a significant increase in revenue from Macau, which reached HKD 87,728,000, compared to HKD 0 in the previous year[18] - For the six months ended June 30, 2023, the total revenue from the film-related business was HKD 871,000, compared to HKD 252,000 for the same period in 2022, indicating a significant increase[69] - The property development and investment business reported revenue of HKD 87,728,000, while the multimedia and entertainment business generated HKD 32,510,000[69] Cash Flow and Investments - Cash and cash equivalents at the end of the reporting period were HKD 114,558,000, down from HKD 209,597,000 at the beginning of the period[51] - The net cash generated from operating activities was HKD 101,695,000 for the six months ended June 30, 2023, compared to a cash outflow of HKD 21,758,000 in the same period of 2022[51] - The group’s film investments totaled HKD 103,252,000 as of June 30, 2023, slightly down from HKD 104,743,000 as of December 31, 2022[37] - The group’s investment properties provided a loan to a director amounting to HKD 143,123,000 as of June 30, 2023, compared to HKD 149,114,000 as of December 31, 2022[37] Corporate Governance and Compliance - The company has maintained compliance with corporate governance codes and standards throughout the reporting period[100] - The company has adopted new company bylaws as approved by shareholders on June 29, 2023[99] - The group has not issued or granted any reward shares during the reporting period[77] Employee and Operational Changes - The employee count increased to 126 as of June 30, 2023, compared to 81 a year earlier, with total employee benefit expenses rising by 19% to HKD 25,736,000[106] - The group has initiated multimedia and entertainment operations, which are considered a new segment for reporting purposes[42] Future Outlook and Commitments - The group anticipates a significant breakthrough in 2023, focusing resources on developing two business operations while remaining cautious about the film-related business[85] - As of June 30, 2023, the group has unfulfilled commitments amounting to HKD 113,445,000, with HKD 96,257,000 allocated for the development costs of properties in Macau[81] - The group plans to accelerate the development of the C7 property, with revised plans submitted for approval and construction expected to commence within the year[86] Financial Instruments and Fair Value - The fair value of listed equity securities held by the group was approximately HKD 41,086,000 as of June 30, 2023, compared to HKD 45,040,000 at the same date[76] - The group incurred a loss of HKD 5,022,000 due to changes in the fair value of financial assets measured at fair value through profit or loss[76] - The fair value of financial instruments classified as Level 3 was reported at HKD 491,865 as of June 30, 2023, compared to HKD 486,091 as of December 31, 2022[199]
中国星集团(00326) - 2023 - 中期财报