Financial Performance - The company reported revenue of HKD 70,606,000 for the six months ended December 31, 2022, a significant increase from HKD 5,205,000 in the same period of 2021, representing a growth of 1,257%[6] - Gross profit for the same period was HKD 15,595,000, compared to HKD 4,001,000 in 2021, indicating a growth of 289%[6] - The company recorded a pre-tax loss of HKD 27,628,000, an improvement from a loss of HKD 39,000,000 in the previous year, reflecting a reduction of 29%[6] - The total comprehensive loss attributable to equity holders for the period was HKD 47,458,000, compared to HKD 40,399,000 in 2021, showing an increase of 17%[6] - The basic and diluted loss per share for the period was HKD 1.02, an improvement from HKD 1.59 in the previous year[6] - For the six months ended December 31, 2022, the total revenue was HKD 71,477,000, a significant increase from HKD 6,331,000 in the same period of 2021, representing a growth of approximately 1,030%[19] - Revenue from property sales in China reached HKD 67,970,000, compared to HKD 1,271,000 in the previous year, indicating a growth of over 5,200%[19] - The company reported a loss before tax of HKD (27,628,000) for the period, compared to a loss of HKD (25,510,000) in the previous year, indicating a slight increase in losses[22] - The company reported a loss of HKD 25,510,000 for the six months ended December 31, 2022, compared to a loss of HKD 39,707,000 for the same period in 2021, primarily due to a net decrease in the fair value of investment properties of HKD 27,100,000[62] Assets and Liabilities - Non-current assets decreased to HKD 337,624,000 as of December 31, 2022, down from HKD 365,915,000 as of June 30, 2022, a decline of 8%[7] - Current assets totaled HKD 949,800,000, a decrease from HKD 1,070,444,000 in the previous period, representing a decline of 11%[7] - The company's cash and cash equivalents were HKD 49,438,000, down from HKD 60,474,000, indicating a decrease of 18%[7] - Total liabilities decreased to HKD 364,753,000 from HKD 462,761,000, reflecting a reduction of 21%[7] - The net asset value of the company was HKD 825,529,000, down from HKD 872,987,000, a decrease of 5%[7] - The total assets as of December 31, 2022, amounted to HKD 1,287,424,000, while total liabilities were HKD (461,895,000), resulting in a net asset position[22] - The company's total assets as of June 30, 2022, amounted to HKD 1,436,359,000, with total liabilities of HKD 563,372,000[25] - The fair value of investment properties as of December 31, 2022, was HKD 268,000,000, down from HKD 295,100,000 as of June 30, 2022[36] - The value of properties under development decreased from HKD 631,490,000 as of June 30, 2022, to HKD 401,907,000 as of December 31, 2022[36] Cash Flow and Financing - The net cash used in operating activities was HKD (4,527,000), an improvement from HKD (7,757,000) in the prior year, reflecting a reduction of approximately 42.5%[14] - The net cash generated from investing activities was HKD 1,846,000, down from HKD 47,624,000 in the previous year, a decline of approximately 96.1%[14] - Cash and cash equivalents decreased to HKD 49,438,000 from HKD 94,484,000, a decline of approximately 47.7%[14] - The company’s bank and cash on hand decreased significantly from HKD 90,190,000 to HKD 30,341,000, a reduction of approximately 66.4%[14] - The financing costs incurred during the period were HKD (4,540,000), which is an increase compared to HKD (2,807,000) in the previous year, reflecting a rise of approximately 62%[22] - The group has sufficient cash and cash equivalents to support operations and anticipated expansions, indicating low liquidity risk[90] Expenses - The company’s employee costs, including director remuneration, totaled HKD 6,077,000 for the six months ended December 31, 2022, compared to HKD 4,310,000 in the previous year[30] - Selling expenses decreased by 40% to HKD 1,965,000, primarily due to reduced advertising and consulting fees[80] - Administrative expenses decreased by 10% to HKD 11,017,000, mainly due to lower legal and professional fees[81] Investments and Fair Value - The company recognized a net decrease in the fair value of investment properties amounting to HKD 27,100,000 for the six months ended December 31, 2022[24] - The fair value loss of financial assets measured at fair value through profit or loss decreased from approximately HKD 13,282,000 to approximately HKD 9,124,000[62] - The net fair value loss of financial assets measured at fair value through profit or loss decreased by 31% to HKD 9,124,000, mainly due to a decline in the share price of ZTO Express[76] - The net fair value loss of investment properties increased from HKD 15,500,000 to HKD 27,100,000, influenced by the economic conditions in Hong Kong[77] Corporate Governance - The board of directors did not recommend the payment of an interim dividend for the six months ended December 31, 2022[59] - The company has complied with all applicable code provisions of the Corporate Governance Code during the six months ending December 31, 2022, except for specific deviations noted[109] - The company amended its articles of association to comply with the Corporate Governance Code on December 15, 2022[112] - All directors confirmed compliance with the required standards of the Corporate Governance Code during the six months ending December 31, 2022[114] Market Conditions and Competition - The group's financial condition and performance are significantly influenced by the property market conditions in Hong Kong and China, with potential adverse impacts on financial status and operations due to market downturns[87] - The group faces competition in the Chinese real estate market, necessitating improvements in product quality and cost control to maintain sales[88]
诺科达科技(00519) - 2023 - 中期财报