HKR INT'L(HK:00480)2022-12-01 08:46Financial Performance - The group's revenue for the six months ended September 30, 2022, was HKD 796.3 million, a decrease of 57.7% compared to HKD 1,882.4 million in the same period last year[14]. - Profit attributable to the company's owners was HKD 17.6 million, down 96.5% from HKD 508.0 million year-on-year[14]. - Basic earnings per share for the period were HKD 0.012, compared to HKD 0.342 in the previous year[14]. - Total comprehensive income for the period was a loss of HKD 1,612.7 million, compared to a gain of HKD 673.8 million in the same period last year[77]. - The company reported a profit before tax of HKD 85.3 million, a significant decline of 89.9% compared to HKD 845.6 million in the previous year[76]. - The group’s total comprehensive income for the period was HKD 621.2 million, down from HKD 1,882.4 million in the same period last year[95]. - The group's attributable profit for the period was HKD 17.6 million, compared to a profit of HKD 38.9 million in the previous year, indicating a decrease of 54.8%[93]. - The estimated tax expense for the period was HKD 129.7 million, down from HKD 222.0 million in the previous year, indicating a reduction of about 41.6%[101]. Assets and Liabilities - Total assets as of September 30, 2022, were HKD 41,726.3 million, down from HKD 44,400.2 million in 2021[12]. - Total liabilities decreased to HKD 15,536.0 million from HKD 17,315.0 million in the previous year[12]. - The net debt amounted to HKD 9,044.7 million, an increase from HKD 7,937.7 million as of March 31, 2022[44]. - The capital debt ratio increased to 38.8% from 31.7% as of March 31, 2022, with shareholders' equity decreasing to HKD 23,318.6 million[46]. - Non-current assets as of September 30, 2022, totaled HKD 32,535.5 million, compared to HKD 33,349.4 million as of March 31, 2022[78]. - Current liabilities amounted to HKD 3,874.3 million, reflecting an increase from HKD 3,874.3 million as of March 31, 2022[79]. - The company's total assets less current liabilities stood at HKD 37,852.0 million as of September 30, 2022[78]. - The group's total liabilities for associated companies were HKD 17,064.1 million, with a net current liability of HKD 8,740.6 million as of September 30, 2022[72]. Property Development and Investment - The property development and investment segment generated revenue of HKD 842.7 million, including HKD 450.1 million from joint ventures[16]. - The company anticipates a gradual recovery in the residential property market in China due to government support measures, with overall property prices remaining stable in Shanghai and other cities[20]. - The "Da Pu Lin Hai Shan Cheng" project has a total of 262 units, with 9 units sold, contributing HKD 255.7 million in sales revenue, which will be recognized in the following period[19]. - The Linhai Mountain City project received its occupancy permit in May 2022 and has been well received in the market since its launch in August 2022[18]. - The company is developing a low-density residential project in Songjiang District, Shanghai, with construction expected to start in early 2023[20]. - The average occupancy rate for the "Yue Jing Bay" property investment project is 87%, with plans for improvement works to enhance the overall experience for residents and visitors[23]. - The average occupancy rate for the "Shi Gua Wan Lian He Bao Da Sha" project is 97%, with an application for land use change from industrial to residential pending approval[24]. Transportation and Services - The transportation services segment is facing challenges such as a shortage of skilled operators and rising operational costs, but bus fare increases and government support for ferry services have alleviated some financial burdens[27]. - The average occupancy rate for Hong Kong's Discovery Bay Hotel reached 72% during the period, benefiting from a continued staycation trend[30]. - The hotel business segment's loss decreased to HKD 4.9 million, an improvement from a loss of HKD 10.9 million, driven by a recovery in occupancy rates in Thailand[42]. - The leisure business segment continues to perform well, with increased visitor numbers at the Lantau Yacht Club due to the popularity of its yachtcation program[33]. Corporate Governance and Shareholder Information - The company has implemented corporate governance policies, including a corporate culture policy and an anti-fraud policy, to enhance governance standards[65]. - The board of directors has confirmed compliance with the standard code of conduct for securities trading throughout the reporting period[66]. - As of September 30, 2022, the total number of shares held by directors and their associates amounted to 793,151,173 shares, representing 53.40% of the issued share capital[52]. - The company has established various discretionary trusts, with a total of 635,627,031 shares held by these trusts[54]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[64]. Future Outlook and Strategic Initiatives - The company plans to continue expanding its market presence, particularly in Hong Kong and Southeast Asia, to drive future growth[90]. - The group plans to enhance its property portfolio and land reserves while exploring diversified residential, commercial, and hotel business opportunities in the Greater Bay Area and Yangtze River Delta regions[38]. - The group has initiated a strategic blueprint called "Discovery Bay 2.0," which includes launching new residential projects starting in 2024 and improving infrastructure and recreational facilities[38]. - The company is investing in R&D, allocating $G million towards the development of new technologies and products[147]. - Future guidance indicates a commitment to sustainable practices, with plans to reduce carbon emissions by J% over the next five years[147].