Financial Performance - The company reported a revenue of HKD 320,919,000 for the six months ended June 30, 2022, a decrease of 21.9% compared to HKD 410,856,000 for the same period in 2021[6]. - Gross profit for the same period was HKD 38,607,000, down from HKD 89,316,000 in 2021, reflecting a significant decline in profitability[6]. - The company incurred a loss before tax of HKD 117,970,000, compared to a profit of HKD 27,610,000 in the previous year, indicating a substantial downturn in financial performance[6]. - The total comprehensive loss for the period was HKD 173,193,000, compared to a comprehensive income of HKD 36,050,000 in the prior year[6]. - Basic loss per share was HKD (14.53), a significant drop from HKD 3.35 in the same period last year[6]. - The company reported a net cash inflow from operating activities of HKD 16,298,000 for the six months ended June 30, 2022, compared to a net outflow of HKD 73,718,000 in the same period of 2021[15]. - The company reported a loss of HKD 112,754,000 for the period, with other comprehensive expenses amounting to HKD 60,439,000[11]. - The pre-tax loss for the first half of 2022 was HKD 112,754,000, compared to a profit of HKD 25,707,000 in the same period of 2021[41]. - The group recorded a consolidated revenue of HKD 320,919,000 for the six months ended June 30, 2022, a decrease of 21.9% or HKD 89,937,000 compared to HKD 410,856,000 in the same period last year[73]. - Gross profit for the group was HKD 38,607,000, down 56.8% or HKD 50,709,000 from HKD 89,316,000 in the previous year, with a gross margin of 12.0%, a decrease of 9.7% from 21.7%[73]. - The group reported a loss of HKD 112,754,000 for the period, compared to a profit of HKD 25,707,000 in the same period last year[74]. - Basic loss per share was HKD 0.1453, compared to basic earnings per share of HKD 0.0335 in the previous year[75]. Assets and Liabilities - Non-current assets totaled HKD 2,321,183,000 as of June 30, 2022, slightly down from HKD 2,331,040,000 at the end of 2021[7]. - Current assets decreased to HKD 1,222,977,000 from HKD 1,449,517,000, indicating a reduction in liquidity[7]. - Current liabilities were HKD 1,190,702,000, down from HKD 1,312,518,000, suggesting improved management of short-term obligations[7]. - The company's net asset value decreased to HKD 1,766,520,000 from HKD 1,939,591,000, reflecting a decline in overall equity[9]. - The company's total equity as of June 30, 2022, was HKD 1,766,520,000, a decrease from HKD 1,854,197,000 as of January 1, 2022[11]. - The company's retained earnings decreased to HKD 760,388,000 as of June 30, 2022, from HKD 831,537,000 as of January 1, 2022[11]. - The total amount of trade and other payables was HKD 1,003,537,000 as of June 30, 2022, compared to HKD 1,072,759,000 as of December 31, 2021, indicating a decrease of about 6.5%[52]. - Trade receivables, net of credit loss provisions, totaled HKD 303,101,000 as of June 30, 2022, down from HKD 360,839,000 as of December 31, 2021, reflecting a decrease of approximately 16%[50]. - The company's debt-to-equity ratio was 1.01 as of June 30, 2022, compared to 0.95 as of December 31, 2021[86]. Cash Flow and Financing - Cash and cash equivalents decreased by HKD 95,776,000 during the period, ending with a balance of HKD 715,160,000 as of June 30, 2022[15]. - The company's cash flow from financing activities showed a net outflow of HKD 84,905,000 for the period, compared to a net outflow of HKD 3,867,000 in the previous year[15]. - The company obtained new bank loans of approximately HKD 60,145,000 during the reporting period, compared to HKD 142,133,000 in the same period last year[60]. - As of June 30, 2022, the company's cash and bank deposits amounted to approximately HKD 721,322,000, a decrease from HKD 849,593,000 as of December 31, 2021[85]. Segment Performance - Total revenue for the six months ended June 30, 2022, was HKD 320,919,000, with segment revenues of HKD 67,605,000 from household products, HKD 253,149,000 from PVC pipes and fittings, and HKD 165,000 from property investment[27]. - The home products segment generated revenue of HKD 64,417,000, a decrease of 13.7% year-on-year, resulting in a loss of HKD 1,335,000[78]. - Revenue from the PVC pipe and fittings business was HKD 252,671,000, down 23.3% year-on-year, with a loss of HKD 32,748,000 recorded in this segment[78]. - The segment profit for household products was HKD 4,074,000, while the profit for PVC pipes and fittings was HKD 12,580,000, contributing to a total segment profit of HKD 56,968,000[29]. Operational Developments - The company is focusing on cost management and exploring new market opportunities to improve future performance[6]. - The company anticipates negative impacts on business development in the second half of the year due to COVID-19 and the relocation of the PVC pipe and fittings business[81]. - The construction and renovation of the "Huayangnian Xuhui Good Times Community" urban renewal project in Shenzhen is ongoing, with close monitoring of progress to achieve expected benefits[83]. - The company continues to explore business expansion opportunities while closely monitoring the development of the COVID-19 pandemic[83]. Corporate Governance - The company confirmed compliance with the corporate governance code as per the Hong Kong Stock Exchange rules for the first six months ended June 30, 2022[107]. - All directors confirmed adherence to the company's code of conduct regarding securities trading[108]. - The Audit Committee reviewed the accounting principles and practices adopted by the group and discussed audit, internal control, and financial reporting matters[106]. Employee and Compensation - The total employee compensation for the period was HKD 28,754,000, down from HKD 35,622,000 in the same period last year[90]. - The company employed approximately 625 staff as of June 30, 2022, a decrease from 747 staff as of June 30, 2021[90].
世界(集团)(00713) - 2022 - 中期财报