Revenue and Profitability - The group's revenue for the six months ended June 30, 2022, was HKD 378.7 million, an increase of 15.7% compared to HKD 327.1 million in the same period last year[11]. - The toy business generated revenue of HKD 267.5 million, up 25% from HKD 214.0 million year-on-year, driven by the expansion of the "Miraculous: Tales of Ladybug & Cat Noir" toy series[20]. - The property investment and related business revenue decreased by 1.9% to HKD 109.7 million, compared to HKD 111.8 million in the previous year[12]. - The gross profit for the group was HKD 236.4 million, compared to HKD 216.0 million in the previous year, reflecting a positive trend despite operational losses[11]. - The group recorded an operating loss of HKD 18.4 million, an improvement from a loss of HKD 37.1 million in the same period last year[11]. - The net loss attributable to shareholders was HKD 58.2 million, compared to a loss of HKD 64.6 million in the previous year[11]. - The total comprehensive loss for the period was HKD 91.8 million, compared to a comprehensive income of HKD 46.4 million in the same period of 2021[30]. - The company reported a total loss before tax of HKD 49,869,000 for the six months ended June 30, 2022, compared to a loss of HKD 41,374,000 in the same period of 2021[57]. - The group reported a pre-tax loss of HKD 58,222,000 for the six months ended June 30, 2022, compared to a loss of HKD 64,610,000 in the same period of 2021[79]. Cash Flow and Financial Position - Operating cash generated for the six months ended June 30, 2022, was $20,649,000, an increase from $19,793,000 in the previous year, representing a growth of 8.5%[37]. - Net cash generated from operating activities amounted to $19,793,000, compared to $106,080,000 in the same period last year, indicating a significant decrease of 81.3%[37]. - Cash used in investing activities was $(3,326,000), a notable decline from cash generated of $40,319,000 in the prior year, reflecting a change of 108.2%[37]. - Cash used in financing activities totaled $(15,713,000), compared to $(81,255,000) in the same period last year, showing an improvement of 80.7%[39]. - The net increase in cash and cash equivalents was $754,000, a significant drop from $65,144,000 in the same period last year, representing a decline of 98.8%[39]. - As of June 30, 2022, cash and cash equivalents stood at $188,505,000, down from $1,539,395,000 a year earlier, indicating a decrease of 87.7%[39]. - The group’s total assets as of June 30, 2022, were HKD 6.5 billion, a decrease from HKD 6.7 billion as of December 31, 2021[33]. - The net asset value was HKD 6.2 billion as of June 30, 2022, compared to HKD 6.4 billion at the end of 2021[35]. - The group’s total liabilities were HKD 1,085,572,000 as of June 30, 2022, compared to HKD 1,127,726,000 at the end of 2021, indicating a reduction of 3.7%[62]. Investment and Market Conditions - The company anticipates a challenging operating environment in the second half of the year due to high inflation and reduced consumer spending, impacting toy sales[23]. - The company plans to take decisive measures to reduce inventory levels, despite the short-term increase in costs, to seize future opportunities[23]. - The group plans to continue monitoring and adjusting its investment portfolio cautiously in response to global economic developments[26]. - The group recorded a net investment loss of HKD 41.3 million in the first half of 2022, compared to a net gain of HKD 6.3 million in the same period of 2021[26]. - The fair value of the investment portfolio was HKD 135.1 million, a decrease from HKD 161 million as of December 31, 2021, representing 1.8% of total assets[25]. Shareholder and Corporate Governance - The company paid dividends to shareholders amounting to $(8,052,000), a decrease of 35.0% from $(12,200,000) in the previous year[39]. - The interim dividend declared was HKD 31,200,000, maintaining the same rate of HKD 0.015 per share as in 2021[75]. - The company has adopted the corporate governance code and complied with all applicable provisions, with no exceptions noted[137]. - The audit committee has reviewed the accounting standards and practices adopted by the group, discussing internal controls and financial reporting matters[138]. - The company has adopted the standard code for securities trading by directors as per the listing rules, confirming compliance during the period ending June 30, 2022[139]. Assets and Liabilities Management - Current liabilities amounted to HKD 840.7 million, down from HKD 873.1 million at the end of 2021[33]. - The group’s trade receivables, net of customer discount provisions, were HKD 64,732,000 as of June 30, 2022, compared to HKD 128,879,000 as of December 31, 2021, reflecting a decrease of 49.8%[83]. - The group’s total accrued expenses and other payables amounted to HKD 196,524,000 as of June 30, 2022, down from HKD 212,262,000 as of December 31, 2021, indicating a decrease of approximately 7.4%[94]. - The group’s bank credit facilities were HKD 980,675,000 as of June 30, 2022, down from HKD 990,775,000 at the end of 2021, indicating a decrease of about 1.1%[91]. - The actual annual interest rate on bank loans increased to 1.68% as of June 30, 2022, from 1.49% at the end of 2021[90].
彩星集团(00635) - 2022 - 中期财报