Property Investment and Development - The Group's property investment and development segment has been rapidly expanding, engaging in multiple projects in Hong Kong and the PRC, including residential buildings and shopping malls [6]. - The Group is committed to exploring quality property projects in the Greater Bay Area to increase land reserves for future development [6]. - The Group completed the acquisition of a subsidiary, which contributed HK$1,822,328,000 to the total equity as of June 30, 2023 [41]. - The acquisition of 51% equity interest in Shantou Taisheng Technology Limited was completed on March 22, 2023, contributing to the company's strategy for property investment and development [189]. Financial Performance - Revenue for the six months ended June 30, 2023, was HK$333.9 million, a decrease of 16.6% from HK$400.5 million in 2022 [27]. - Gross profit for the same period was HK$52.5 million, down 46.5% from HK$97.9 million in 2022 [27]. - EBITDA for the first half of 2023 was HK$701.2 million, compared to a loss of HK$345.1 million in 2022 [27]. - Profit attributable to owners of the Company was HK$648.7 million, a significant recovery from a loss of HK$233.6 million in the previous year [27]. - Total comprehensive income for the period was HK$298.7 million, a recovery from a total comprehensive expense of HK$744.5 million in 2022 [32]. - Basic and diluted earnings per share for the six months ended June 30, 2023, were 10 HK cents, an improvement from a loss of 14.88 HK cents in the same period of 2022 [33]. Assets and Liabilities - Total assets increased to HK$11,545.2 million as of June 30, 2023, from HK$7,940.5 million at the end of 2022 [27]. - Net assets rose to HK$7,338.1 million, up from HK$5,111.4 million at the end of 2022 [27]. - Current liabilities rose significantly to HK$3,676,131,000 as of June 30, 2023, compared to HK$2,571,152,000 as of December 31, 2022, indicating a 43% increase [37]. - Total liabilities increased to HK$4,207,106,000 as of June 30, 2023, from HK$2,829,091,000 as of December 31, 2022, indicating a rise of about 48% [37]. Cash Flow and Financing - Net cash generated from operating activities decreased to HK$194,748,000 in 2023 from HK$382,911,000 in 2022, representing a decline of approximately 49% [44]. - Cash flows from financing activities generated a net cash inflow of HK$340,000 in 2023, a significant recovery from a net cash outflow of HK$402,150,000 in 2022 [46]. - The company raised HK$105,612,000 from the placing of new shares in 2023, with no such proceeds reported in 2022 [46]. Changes in Management - The Group has undergone significant changes in its board of directors, with multiple resignations and appointments in 2023 [15][17]. - The company changed its name from "Glory Sun Financial Group Limited" to "Renze Harvest International Limited" on July 11, 2023 [48]. Segment Performance - The Automation segment generated revenue of HK$213,045,000, while the Financial Services segment contributed HK$32,245,000, and the Property Investment and Development segment brought in HK$149,473,000 [66]. - The Group reported a segment loss of HK$42,898,000 for the six months ended June 30, 2023, compared to a loss of HK$317,125,000 for the same period in 2022 [66]. Investment Properties - The Company reported a fair value loss on investment properties of HK$1.2 million, compared to a loss of HK$290.1 million in the previous year [28]. - The Company reported a significant increase in investment properties, which rose to HK$5,488,005,000 as of June 30, 2023, from HK$3,471,220,000 as of December 31, 2022, representing a growth of approximately 58% [36]. Related Party Transactions - The company’s related party transactions were conducted at mutually agreed terms in the ordinary course of business [181]. - As of June 30, 2023, loans and advances to related parties totaled HK$1,010,441,000 [181].
中泽丰(01282) - 2023 - 中期财报