Financial Performance - For the six months ended June 30, 2022, the company reported revenue of HK$14,107,000, an increase of 2.5% compared to HK$13,766,000 for the same period in 2021[13]. - The loss for the period was HK$6,588,000, a significant improvement from a loss of HK$15,660,000 in the previous year, representing a reduction of approximately 58%[13]. - The total comprehensive expense for the period was HK$17,686,000, compared to HK$35,328,000 in the previous year, showing a reduction of 50%[13]. - The company reported a basic and diluted loss per share of HK$0.017, compared to HK$0.041 in the same period last year[13]. - Loss before taxation for the six months ended June 30, 2022, was HK$15,660,000, compared to a loss of HK$6,588,000 for the same period in 2021, indicating a significant increase in losses[54]. - Loss per share for the six months ended June 30, 2022, was HK$0.017, representing a reduction of approximately 41% from HK$0.041 in the same period last year[151]. Assets and Liabilities - Total assets less current liabilities amounted to HK$990,931,000, a slight decrease from HK$1,010,482,000 as of December 31, 2021[17]. - The company's net assets stood at HK$927,989,000, down from HK$936,514,000 at the end of 2021[17]. - The Group's total assets as of June 30, 2022, were HK$927,989,000, a decrease from HK$936,514,000 as of January 1, 2022[21]. - As of June 30, 2022, the Group's net current liabilities amounted to approximately HK$3.0 million, an increase from HK$1.2 million as of December 31, 2021[154]. - The current ratio as of June 30, 2022, was approximately 0.94, slightly down from approximately 0.98 as of December 31, 2021[154]. - Total equity of the Group decreased to approximately HK$928.0 million as of June 30, 2022, compared to approximately HK$936.5 million as of December 31, 2021[154]. Cash Flow and Financing - The company’s cash and cash equivalents increased to HK$51,866,000 from HK$46,323,000, marking an increase of 12%[17]. - For the six months ended June 30, 2022, the net cash from operating activities was HK$8,448,000, compared to HK$8,359,000 for the same period in 2021, reflecting a slight increase of 1.06%[27]. - The net increase in cash and cash equivalents for the period was HK$5,515,000, contrasting with a decrease of HK$7,035,000 in the previous year[27]. - The Group's financing activities resulted in cash used of HK$3,039,000 for the six months ended June 30, 2022, compared to HK$3,373,000 in the same period of 2021, showing a reduction of 9.9%[27]. - The Group had available unutilized bank loan facilities of approximately HK$20 million as of June 30, 2022, consistent with the amount as of December 31, 2021[157]. Investment Properties - The net changes in fair value of investment properties resulted in a loss of HK$12,910,000, compared to a loss of HK$24,423,000 in the prior year, indicating a 47% improvement[13]. - The fair value of the Group's investment properties decreased to HK$881,400,000 as of June 30, 2022, from HK$894,310,000 as of December 31, 2021, representing a decrease of approximately 1.3%[60]. - The Group's investment properties recorded a net decrease in fair value due to the impact of COVID-19 and related economic conditions[30]. - The Group's rental income for the first half of 2022 was supported by all retail properties being fully leased out as of June 30, 2022[136]. - The Group anticipates that rental income in the second half of 2022 may be affected by ongoing disruptions from COVID-19, despite a visible recovery in the Hong Kong economy in the first half of 2022[146]. Administrative and Operating Expenses - Administrative expenses increased to HK$5,037,000 from HK$2,541,000, reflecting a rise of 98.5% year-over-year[13]. - The Group recorded staff costs of approximately HK$3.6 million for the six months ended June 30, 2022, compared to approximately HK$1.1 million for the same period in 2021, indicating a significant increase[168]. - The company incurred equity-settled share-based payment expenses of HK$2,573,000 for the six months ended June 30, 2022, with no such expenses recorded in the previous year[45]. Share Capital and Dividends - The company did not declare or propose any interim dividend for the six months ended June 30, 2022, consistent with the previous year[57]. - The issued and fully paid share capital remained unchanged at HK$3,862,000 as of June 30, 2022[110]. - The percentage of interest in the Company's issued share capital is calculated based on 386,175,758 shares issued as of June 30, 2022[172]. Share Options and Management - The maximum number of shares available for issue under the share option scheme is 70,670,156, representing approximately 18.3% of the issued shares as of the date of the interim report[184]. - The share option scheme aims to reward eligible participants who contribute to the Group and enhance the Company's value[184]. - The total outstanding share options for executive directors include 386,175 options for Ms. Chau Choi Fa and 3,861,757 options for Ms. Wong Siu Wah[191]. - The management believes the Group is well positioned with sufficient operating funds to manage existing operations and investment plans[154]. Market Outlook and Strategy - The Group remains cautiously optimistic about the Hong Kong property market, citing the solid economic foundation despite the challenging environment[145]. - The Group will continue to explore investment opportunities beyond the Hong Kong region to maintain competitiveness[151]. - The Group has not applied any new standards or amendments that are not effective for the current accounting period, ensuring compliance with the latest financial reporting standards[35].
永利地产发展(00864) - 2022 - 中期财报