Financial Performance - The Group's revenue for the period was approximately RMB 729,000, a significant decrease from RMB 43,373,000 in the corresponding period of 2021, primarily due to no revenue generated from infrastructure construction and property development in the PRC[8]. - Loss before tax from continuing operations amounted to RMB 2,618,000, representing a decrease of 139.55% compared to a profit before tax of RMB 6,619,000 in the corresponding period of 2021[9]. - Loss per share was approximately RMB 0.0013, compared to basic earnings per share of RMB 0.0064 in the corresponding period of 2021[9]. - The Group's inability to generate profit from the infrastructure construction business was a significant factor contributing to the overall loss[9]. - The Group's revenue decline is attributed to the lack of infrastructure construction and property development activities during the period[11]. - The Group's financial performance reflects challenges in the construction sector, impacting overall profitability and revenue generation[8]. - Total revenue for the six months ended June 30, 2022, was RMB 729,000, a decrease of 98.3% from RMB 43,373,000 in the same period of 2021[101]. - The loss for the period from continuing operations was RMB 2,686,000, a significant decline from a profit of RMB 6,559,000 in the previous year[72]. - The loss attributable to owners of the Company for the period was RMB 1,954,000, compared to a profit of RMB 9,375,000 in the same period of 2021[74]. - Total comprehensive expense for the period was RMB (2,687,000), a decrease from RMB 9,094,000 in the same period of 2021[78]. Assets and Liabilities - As of June 30, 2022, the Group's total assets amounted to RMB801,103,000, representing a decrease of 9.3% from RMB883,277,000 as of December 31, 2021[26]. - The Group's non-current assets as of June 30, 2022, were RMB428,545,000, showing a slight decrease from RMB428,740,000 as of December 31, 2021[26]. - The Group's current assets decreased to RMB372,558,000 as of June 30, 2022, from RMB454,537,000 as of December 31, 2021[26]. - The Group's net current assets were approximately RMB 221,941,000 as of June 30, 2022, slightly down from RMB 224,576,000 as of December 31, 2021[30]. - The Group's total assets less current liabilities amounted to RMB 650,486,000, a slight decrease from RMB 653,316,000 as of December 31, 2021, representing a decline of approximately 0.4%[80]. - The company's net assets stood at RMB 650,182,000, down from RMB 652,869,000, marking a decrease of about 0.4%[82]. - The equity attributable to owners of the company was RMB 648,994,000, a decrease from RMB 650,949,000, representing a decline of approximately 0.3%[82]. - As of June 30, 2022, the outstanding payable was approximately RMB 15,000[61]. - The Group had no significant contingent liabilities as of June 30, 2022, consistent with the previous year[62]. Cash Flow and Financing - Net cash used in operating activities for the six months ended June 30, 2022, was RMB (31,340,000), compared to RMB (11,927,000) for the same period in 2021, indicating a significant increase in cash outflow[89]. - Net cash from financing activities was RMB 32,862,000 for the six months ended June 30, 2022, compared to RMB (1,655,000) in the prior year, showing a positive shift in financing[89]. - The Group's net cash used in investing activities was RMB (1,904,000) for the six months ended June 30, 2022, a significant decrease from RMB 18,919,000 in the prior year, indicating reduced investment outflows[89]. - The Group's cash flow management strategies are reflected in the significant changes in cash flows from operating and financing activities, indicating a focus on improving liquidity[89]. - The cash and bank balances were recorded at RMB 6,700,000, a decrease from RMB 7,083,000, indicating a decline of about 5.4%[80]. Business Operations and Strategy - The infrastructure construction business, a principal business of the Group, did not record any revenue during the period due to the incomplete settlement of the Zhongfang Chaozhou Jing Nan Industrial Park Project[10]. - No new products or technologies were mentioned in the report, indicating a focus on existing operations and resolving ongoing projects[10]. - There were no indications of market expansion or acquisitions during the reporting period[10]. - The management discussion highlighted the need for strategic adjustments to address the current financial challenges faced by the Group[8]. - The Group is actively exploring investment and construction projects to reinforce its financial strength through strong management connections and public/private tenders[24]. - The Group aims to enhance its overall business strength by carrying out property management services and identifying projects aligned with its development strategy[24]. - The Group is focusing on opportunities arising from the renovation of old urban residential areas, which may lead to increased tenders from local governments[25]. - The Group will continue to explore diversified investment opportunities to enhance its market competitiveness[24]. Shareholder Information - As of June 30, 2022, Beijing Hua Xia Ding and Huang Guang Fu each hold 420,000,000 Domestic Shares, representing 28.58% of the total issued share capital[189]. - Beijing Lichuang Future and Zhai Ming Yue each hold 180,000,000 Domestic Shares, accounting for 12.25% of the total issued share capital[189]. - Shenzhen Wan Zhong Run Long and Zhang Song each hold 140,000,000 Domestic Shares, which is 9.53% of the total issued share capital[189]. - HKSCC Nominees Limited holds 605,376,000 H-Shares, representing 41.20% of the total issued H-Shares[189]. - The Hongkong and Shanghai Banking Corporation Limited holds 75,164,740 H-Shares, representing 12.41% of the issued H-Shares[191]. - Ever-long Securities Company Limited holds 64,282,000 H-Shares, accounting for 10.61% of the issued H-Shares[191]. - Bank of China (Hong Kong) Limited holds 63,724,000 H-Shares, representing 10.52% of the issued H-Shares[191]. - As of June 30, 2022, no interests or short positions were reported by Directors, chief executives, and supervisors in the Shares or underlying Shares[185]. Compliance and Governance - The Group's financial statements have been prepared in accordance with Hong Kong Accounting Standard 34, ensuring compliance with relevant financial reporting standards[91]. - The application of amendments to HKFRSs had no material impact on the Group's financial positions and performance for the current and prior periods[93]. - The Company has complied with all code provisions of the Corporate Governance Code during the period, except for the arrangement of insurance cover for directors, which was deemed unnecessary due to minimal risk[177]. - The Board does not recommend the payment of interim dividends for the Period, consistent with the 2021 corresponding period which also had no dividends declared[183].
沈阳公用发展股份(00747) - 2022 - 中期财报