Revenue and Profit - Revenue for the first half of 2023 was approximately HK$68.4 million, with a gross profit of approximately HK$7.5 million[13]. - Profit attributable to owners of the Company was approximately HK$153.8 million, primarily due to a fair value gain on overseas listed equity securities of approximately HK$105.5 million and a share of profit from associates of approximately HK$71.6 million[13]. - Revenue from the travel business increased by approximately 26% to approximately HK$67.1 million, with a segment profit of approximately HK$1.0 million[13]. - Revenue for the six months ended June 30, 2023, increased to HK$68,444,000, up 25.5% from HK$54,536,000 in the same period of 2022[15]. - Gross profit for the period was HK$7,477,000, representing a 41.3% increase compared to HK$5,296,000 in the prior year[15]. - Profit before taxation for the period was HK$153,824,000, a significant turnaround from a loss of HK$125,465,000 in the previous year[16]. - Total comprehensive income for the period attributable to owners of the Company was HK$154,062,000, compared to a loss of HK$125,788,000 in the prior year[20]. - For the six months ended June 30, 2023, the company reported a profit of HK$153,824,000, compared to a loss of HK$125,465,000 for the same period in 2022[26]. Assets and Liabilities - Non-current assets as of June 30, 2023, totaled HK$976,696,000, a slight decrease from HK$910,947,000 at the end of 2022[22]. - Current assets increased to HK$366,158,000 from HK$360,210,000 at the end of 2022, with cash and cash equivalents decreasing to HK$40,114,000 from HK$147,273,000[22]. - Total equity increased to HK$873,427,000 from HK$719,365,000 at the end of 2022, reflecting a stronger financial position[24]. - Reportable segment assets increased to HK$286,564,000 as of June 30, 2023, up from HK$274,506,000 at the end of 2022[65]. - Reportable segment liabilities rose to HK$29,945,000, compared to HK$21,706,000 in the previous year[65]. - Unallocated corporate assets, including interests in associates, increased to HK$605,957,000 from HK$535,404,000[65]. Cash Flow and Financing - The net cash used in operating activities for the six months ended June 30, 2023, was HK$5,306,000, slightly improved from HK$5,800,000 in the same period of 2022[30]. - The company experienced a net decrease in cash and cash equivalents of HK$107,720,000 for the six months ended June 30, 2023, compared to a decrease of HK$10,189,000 in the prior year[31]. - The repayment of bank loans amounted to HK$46,280,000 during the period, compared to HK$44,000,000 in the same period last year[30]. - The company generated HK$1,259,000 from investing activities, a significant improvement from a cash outflow of HK$86,000 in the previous year[30]. - Bank loans, secured, decreased to HK$266,220,000 as of June 30, 2023, from HK$312,500,000 as of December 31, 2022, reflecting a reduction of approximately 14.8%[166]. - The outstanding loan under the Revised Loan Facilities as of June 30, 2023, was approximately HK$200,000,000, down from approximately HK$230,000,000 as of December 31, 2022, indicating a decrease of about 13%[172]. Segment Performance - The Group operates two reportable segments: Travel business (sales of air tickets and provision of travel-related services) and Property investment business (receiving rental income from leasing office premises in Hong Kong)[52]. - Segment profit is calculated without allocating corporate administrative costs, and includes interest income, finance costs, and major non-cash items such as depreciation and impairment losses[53]. - Reportable segment profit decreased to HK$5,704,000, down 15.2% from HK$6,727,000 in the previous year[62]. - The share of results of associates showed a significant improvement, reporting a profit of HK$71,638,000 compared to a loss of HK$9,605,000 in the prior period[62]. Impairment and Fair Value - The Group reported a fair value gain on financial assets of HK$105,520,000, compared to a loss of HK$97,020,000 in the previous year[15]. - The Group recognized a reversal of impairment loss of approximately HK$354,000 for the trademark for the period ended June 30, 2023, attributed to an increase in revenue in the travel business in Canada[100]. - The fair value of investment properties was classified as level 3 under the fair value hierarchy, with no transfers between levels during the reporting period[113]. Share Capital and Dividends - The company has 4,926,491 ordinary shares issued and fully paid, with a nominal value of HK$49,265,000 as of June 30, 2023[183]. - No interim dividend was recommended for the six months ended June 30, 2023, consistent with the previous year[89]. Government Grants and Other Income - The group received government grants of approximately HK$823,000 in the previous year related to COVID-19 subsidies, which were not recognized in the current period[75]. - Other income for the six months ended June 30, 2023, was HK$1,756,000, down 24.6% from HK$2,331,000 in the same period last year[77].
实德环球(00487) - 2023 - 中期财报