Financial Performance - For the six months ended June 30, 2023, the company's revenue was approximately HKD 153.09 million, a decrease of about HKD 16.05 million or 9% compared to HKD 169.14 million for the same period last year[23]. - The net loss attributable to shareholders for the six months ended June 30, 2023, was approximately HKD 41.59 million, a decrease of about HKD 1.91 million compared to HKD 43.50 million for the same period last year[29]. - The basic and diluted loss per share for the six months ended June 30, 2023, was HKD 0.75, compared to HKD 0.79 for the same period last year[20]. - The company's operating loss before tax for the six months ended June 30, 2023, was HKD 51.46 million, compared to HKD 60.50 million for the same period last year[22]. - The company reported a gross profit of HKD 10.66 million for the six months ended June 30, 2023, compared to HKD 11.49 million for the same period last year[22]. - The total comprehensive loss for the period was HKD (95,592,000), slightly improved from HKD (99,834,000) in the prior year[56]. - The company did not recommend an interim dividend for the six months ended June 30, 2023, consistent with the previous year[52]. - The company incurred a loss attributable to shareholders of HKD 41,592 for the first half of 2023, slightly improved from a loss of HKD 43,500 in the same period of 2022[100]. Revenue Breakdown - The company’s financial services business reported a decrease in revenue, contributing to the overall decline in income[23]. - Revenue from water supply and related services decreased to HKD 135,320,000 for the six months ended June 30, 2023, down from HKD 147,481,000 in the same period of 2022, representing a decline of approximately 8.8%[88]. - The financial services segment recorded revenue of approximately HKD 187,000, a decrease of about HKD 3,575,000 or 95% compared to the previous year[182]. - Revenue from water supply and related services was approximately HKD 138,309,000, a decrease of 6% or about HKD 9,307,000 compared to the previous year, primarily due to a decline in water usage by commercial users[181]. - Reported segment revenue for the first half of 2023 was HKD 152,904, a decrease of 7.9% compared to HKD 165,377 in the same period of 2022[99]. Expenses and Costs - The cost of sales/services for the six months ended June 30, 2023, was approximately HKD 142,427,000, a decrease of about HKD 15,224,000 or 9.6% compared to the same period last year[170]. - Employee costs, including directors' remuneration, were HKD 24,689,000 for the six months ended June 30, 2023, down from HKD 27,518,000 in the same period of 2022, indicating a reduction of about 10.4%[70]. - For the six months ended June 30, 2023, the group recorded general and administrative expenses of approximately HKD 41,208,000, a decrease of about 20% compared to the same period last year[187]. - Financial expenses for the six months ended June 30, 2023, amounted to approximately HKD 25,550,000, an increase of about HKD 632,000 compared to the same period last year[189]. Assets and Liabilities - Total assets as of June 30, 2023, were HKD 1,797.05 million, compared to HKD 1,734.31 million as of December 31, 2022[35]. - The company's cash and bank balances decreased to HKD 236.93 million as of June 30, 2023, from HKD 426.79 million as of December 31, 2022[35]. - Non-current liabilities decreased to HKD 699.95 million as of June 30, 2023, from HKD 797.17 million as of December 31, 2022[36]. - The total liabilities decreased to HKD 136,919 thousand from HKD 146,301 thousand, indicating a reduction of 6.5%[134]. - The company reported total liabilities of HKD 301,103 as of June 30, 2023, an increase from HKD 264,069 at the end of 2022[112]. Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2023, was HKD 62,807,000, compared to HKD 4,784,000 for the same period in 2022[38]. - The net cash used in investing activities was HKD (186,143,000) for the six months ended June 30, 2023, compared to HKD (19,443,000) in the previous year[38]. - The net decrease in cash and cash equivalents was HKD (181,491,000) for the period, compared to HKD (69,831,000) in the previous year[38]. - Cash deposits pledged to banks amounted to RMB 132,000,000 (approximately HKD 142,304,000) as of June 30, 2023, consistent with the previous year[109]. Future Outlook - The company expects to have sufficient financial resources to meet its financial obligations in the foreseeable future[47]. - The group expects to maintain a strong relationship with banks and anticipates refinancing all bank loans upon maturity[67]. - The group aims to explore significant property projects in China and overseas to enhance market competitiveness and diversify income sources[183]. - The group emphasizes corporate governance and employee training to improve sustainable development and long-term shareholder returns[184]. Other Financial Metrics - The total tax expense for the period was HKD 10,934, an increase from HKD 2,870 in the previous year, primarily due to higher corporate income tax in China[100]. - The group incurred a net foreign exchange loss of HKD 6,524,000 for the six months ended June 30, 2023, compared to HKD 11,639,000 in the same period of 2022, showing a decrease of approximately 43%[70]. - The group recorded a tax expense of approximately HKD 10,934,000, an increase of about HKD 8,064,000 compared to the same period last year, primarily due to increased taxable income from water supply and related businesses[190].
环球实业科技(01026) - 2023 - 中期财报